River Road Asset Management, LLC

Name: River Road Asset Management, LLC 13F holdings, Q1 2026
Creator: River Road Asset Management, LLC
Published: 2026-04-30

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 30, 2026), River Road Asset Management, LLC reported 174 stock positions worth $8.8 billion. Its top holding was Bj's Wholesale Club (BJ) at 3.9% of the portfolio, followed by White Mountains Insurance GP (WTM, 3.0%) and McGrath Rentcorp (MGRC, 2.7%). Compared with Q4 2025, it opened 27 new positions, sold out of 27, added to 55 and reduced 92. The biggest buy was a new position in American Express (AXP) and the biggest sale an exit from Ares Management Class A (ARES).

Most Recent 13F: Q2 2026
Location: LOUISVILLE, KY
CIK: 0001341401
Portfolio Value: $8.8B (Q1 2026)
SEC Filing: 0001341401-26-000012 ↗ filed Apr 30, 2026

Holdings Value

Holdings 174 stocks · $8.8B


BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC	3.91%	3,503,473	$344.8M	Add +2.9%
WTM White Mountains Insurance GP	3.01%	120,519	$264.8M	Reduce -0.3%
MGRC McGrath Rentcorp	2.71%	2,160,837	$238.3M	Add +1.4%
BRK.B Berkshire Hathaway Inc. Class B	2.48%	455,439	$218.2M	Add +1.7%
MUSA Murphy USA Inc.	2.22%	395,784	$195.5M	Reduce -21.8%
GXO Gxo Logistics Inc.	2.08%	3,541,141	$183.6M	Add +20.3%
MAA Mid-America Apartment Comm	1.98%	1,428,079	$174.4M	Add +52.3%
CXW Corecivic Inc.	1.93%	9,011,396	$170.4M	Add +0.4%
LAD Lithia Motors Inc.	1.85%	652,815	$163.0M	Reduce -12.1%
AGO Assured Guaranty Ltd.	1.75%	1,891,378	$154.1M	Add +0.3%
ATR Aptargroup Inc.	1.68%	1,177,003	$148.3M	Add +28.3%
COO The Cooper Cos Inc.	1.60%	1,974,606	$141.2M	Add +24.8%
WTW Willis Towers Watson PLC	1.60%	484,993	$141.0M	Add +42.4%
CRH CRH PLC	1.53%	1,285,977	$135.2M	Add +24.0%
LH Labcorp Holdings Inc.	1.53%	504,932	$134.7M	Add +23.7%
UNF Unifirst Corp.	1.43%	499,861	$125.8M	Reduce -42.2%
AMRZ Amrize Ltd.	1.43%	2,243,463	$125.7M	Reduce -22.2%
GNW Genworth Financial Inc.	1.41%	15,321,612	$124.4M	Reduce -6.5%
PLUS Eplus Inc.	1.39%	1,624,672	$122.3M	Add +0.5%
VNT Vontier Corp.	1.34%	3,328,459	$118.1M	Add +0.9%
UNP Union Pacific Corp.	1.34%	486,156	$118.0M	Reduce -0.8%
AXP American Express Co.	1.30%	379,197	$114.7M	New
DK Delek US Holdings Inc.	1.27%	2,480,378	$111.8M	Reduce -2.6%
TFX Teleflex Inc.	1.25%	922,116	$110.3M	New
CALM Cal-Maine Foods Inc.	1.23%	1,369,522	$108.4M	New
KR Kroger Co.	1.19%	1,444,473	$104.5M	Reduce -18.0%
SNN Smith & Nephew PLC -Spon ADR	1.17%	3,241,750	$103.0M	Add +2.3%
AXS Axis Capital Holdings Ltd.	1.17%	1,015,028	$102.9M	Reduce -3.5%
GEHC GE Healthcare Technology	1.09%	1,343,187	$95.6M	Reduce -4.8%
PGR Progressive Corp.	1.08%	482,030	$95.6M	Add +9.3%
FCNCA First Citizens Bcshs Class A	1.07%	50,151	$94.5M	Reduce -9.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO	1.07%	975,905	$94.1M	New
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA	1.04%	1,259,653	$91.4M	Add +29.9%
PSMT Pricesmart Inc.	1.03%	601,178	$90.5M	Reduce -16.4%
IMKTA Ingles Markets Inc. Class A	0.98%	956,420	$86.0M	Reduce -5.0%
MDU Mdu Resources Group Inc.	0.96%	4,077,251	$84.5M	Reduce -13.4%
ICUI Icu Medical Inc.	0.95%	646,430	$83.5M	Reduce -0.7%
UFPI Ufp Industries Inc.	0.93%	889,843	$82.0M	Add +1.1%
CACI Caci International Inc. Class A	0.92%	149,326	$81.2M	Reduce -40.6%
CEG Constellation Energy	0.91%	287,191	$80.2M	New
SWX Southwest Gas Holdings Inc.	0.89%	903,750	$78.5M	Reduce -2.5%
PR Permian Resources Corp. Class A	0.86%	3,565,621	$76.0M	Reduce -23.8%
PRSU Pursuit Attractions and Hosp	0.86%	2,074,222	$76.0M	Add +2.0%
HAE Haemonetics Corp.	0.85%	1,327,989	$74.8M	Add +20.5%
DAL Delta Air Lines Inc.	0.84%	1,118,701	$74.4M	Reduce -13.2%
WEX Wex Inc.	0.83%	476,077	$72.9M	Reduce -38.6%
KDP Keurig Dr Pepper Inc.	0.82%	2,734,593	$72.0M	New
AMZN Amazon.com Inc.	0.77%	326,682	$68.0M	New
PRKS United Parks & Resorts Inc.	0.77%	2,080,204	$67.9M	Add +1.2%
DOLE Dole PLC	0.76%	4,694,951	$67.1M	Add +1.7%
NWE Northwestern Energy Group Inc.	0.75%	1,005,802	$66.3M	Reduce -20.4%
PAYC Paycom Software Inc.	0.74%	539,223	$65.5M	Add +37.4%
BDX Becton Dickinson and Co.	0.74%	416,120	$65.4M	Reduce -4.8%
MTN Vail Resorts Inc.	0.73%	503,994	$64.7M	Reduce -0.9%
RTO Rentokil Initial PLC-SP ADR	0.68%	1,909,808	$60.1M	Reduce -12.4%
WFC Wells Fargo & Co.	0.64%	709,410	$56.5M	Add +413.6%
SFM Sprouts Farmers Market Inc.	0.61%	698,689	$53.9M	New
CSL Carlisle Cos Inc.	0.61%	160,753	$53.6M	Reduce -51.4%
MMS Maximus Inc.	0.60%	826,224	$53.0M	Add +0.4%
BMRN Biomarin Pharmaceutical Inc.	0.59%	917,612	$51.8M	Add +1.2%
WSC Willscot Holdings Corp.	0.58%	2,936,892	$51.0M	Add +2.7%
ABG Asbury Automotive Group	0.56%	250,400	$48.9M	Add +18.6%
HII Huntington Ingalls Industrie	0.54%	125,817	$47.8M	Reduce -22.7%
DNOW Dnow Inc.	0.54%	4,009,225	$47.7M	New
SNX TD Synnex Corp.	0.54%	281,448	$47.5M	Reduce -4.3%
DE Deere & Co.	0.54%	83,982	$47.3M	Reduce -54.2%
TTAM Titan America SA	0.53%	3,134,366	$47.0M	Reduce -18.7%
AWI Armstrong World Industries	0.52%	278,656	$45.9M	Reduce -0.5%
SAIC Science Applications Inte	0.52%	482,907	$45.8M	Add +0.7%
VRRM Verra Mobility Corp.	0.49%	3,038,729	$43.4M	Add +1.8%
SMPL The Simply Good Foods Co.	0.49%	2,999,314	$43.0M	Add +89.0%
DINO HF Sinclair Corp.	0.47%	669,044	$41.7M	Reduce -2.8%
LEN Lennar Corp. Class A	0.47%	479,047	$41.6M	Add +3.8%
INGM Ingram Micro Holding Corp.	0.47%	1,758,062	$41.0M	Add +31.9%
ICLR Icon PLC	0.46%	369,715	$40.9M	Reduce -22.2%
HUBG Hub Group Inc. Class A	0.46%	1,115,218	$40.2M	Reduce -15.6%
LKQ LKQ Corp.	0.45%	1,349,408	$39.6M	Reduce -6.6%
CNA Cna Financial Corp.	0.44%	848,197	$38.9M	Add +0.5%
OC Owens Corning	0.44%	358,408	$38.8M	Add +3.0%
RDN Radian Group Inc.	0.42%	1,127,623	$37.3M	Add +129.4%
NOMD Nomad Foods Ltd.	0.42%	3,817,484	$36.7M	Add +4.8%
LMT Lockheed Martin Corp.	0.41%	60,229	$36.4M	Reduce -57.2%
BRBR Bellring Brands Inc.	0.40%	2,162,720	$34.8M	Add +2.4%
ENOV Enovis Corp.	0.39%	1,502,982	$34.2M	Add +1.1%
LGIH Lgi Homes Inc.	0.38%	837,407	$33.1M	Reduce -10.1%
SSNC Ss&c Technologies Holdings	0.37%	482,967	$32.6M	Reduce -17.1%
HHH Howard Hughes Holdings Inc.	0.37%	510,387	$32.3M	Reduce -2.1%
EMBC Embecta Corp.	0.35%	3,449,502	$30.5M	Add +1.0%
UGI Ugi Corp.	0.32%	778,691	$28.4M	New
CHE Chemed Corp.	0.31%	71,768	$27.1M	New
IWD iShares Russell 1000 Value E	0.29%	121,158	$25.9M	New
UL Unilever PLC-Sponsored ADR	0.29%	446,188	$25.4M	Reduce -1.4%
RPC Ridgepost Capital Inc. Class A	0.28%	3,387,144	$24.6M	Reduce -34.1%
TRIP Tripadvisor Inc.	0.27%	2,244,836	$23.9M	Reduce -34.9%
JBI Janus International Group Inc.	0.26%	4,500,422	$23.2M	Reduce -1.5%
CNH CNH Industrial NV	0.26%	2,088,402	$23.0M	Reduce -67.2%
CNNE Cannae Holdings Inc.	0.25%	1,960,105	$22.3M	Reduce -45.6%
WCC Wesco International Inc.	0.25%	79,832	$21.8M	Reduce -63.3%
TXNM TXNM Energy Inc.	0.24%	360,823	$21.1M	Reduce -55.5%
SSD Simpson Manufacturing Co. Inc.	0.23%	119,002	$20.4M	Reduce -13.8%
LSTR Landstar System Inc.	0.23%	124,207	$19.9M	Reduce -1.3%
RPRX Royalty Pharma PLC Class A	0.22%	407,369	$19.5M	Reduce -21.5%
WMB Williams Cos Inc.	0.22%	267,898	$19.5M	Reduce -25.3%
PNC PNC Financial Services Group	0.21%	87,380	$18.2M	Reduce -7.7%
TNC Tennant Co.	0.20%	270,238	$17.9M	Add +1.8%
GPC Genuine Parts Co.	0.19%	160,171	$16.9M	Add +89.0%
EXPD Expeditors Intl Wash Inc.	0.19%	116,762	$16.7M	Add +9.1%
CBSH Commerce Bancshares Inc.	0.19%	339,850	$16.7M	New
CB Chubb Ltd.	0.19%	50,566	$16.5M	Reduce -7.6%
IRT Independence Realty Trust Inc.	0.18%	1,079,384	$16.1M	New
COKE Coca-Cola Consolidated Inc.	0.18%	82,750	$15.9M	Reduce -33.3%
CCL Carnival Corp.	0.18%	597,346	$15.5M	Add +27.5%
ITRN Ituran Location and Control	0.17%	305,593	$15.0M	Reduce -25.5%
KMI Kinder Morgan Inc.	0.16%	425,499	$14.3M	Reduce -22.3%
WMG Warner Music Group Corp. Class A	0.16%	550,000	$14.0M	Reduce -14.3%
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC	0.16%	369,962	$13.9M	Reduce -0.1%
CPAY Corpay Inc.	0.16%	47,344	$13.8M	Reduce -7.0%
TLN Talen Energy Corp.	0.16%	42,920	$13.7M	Reduce -17.3%
BATRK Atlanta Braves Holdings in-C	0.15%	316,644	$13.5M	Add +50.7%
BXC Bluelinx Holdings Inc.	0.15%	243,914	$13.2M	Add +1.4%
TXN Texas Instruments Inc.	0.13%	61,060	$11.9M	Add +2.5%
APD Air Products & Chemicals Inc.	0.13%	40,629	$11.8M	Reduce -5.7%
MSGS Madison Square Garden Sports	0.13%	36,656	$11.8M	New
PGNY Progyny Inc.	0.13%	676,227	$11.5M	Reduce -1.7%
SBUX Starbucks Corp.	0.13%	126,303	$11.3M	Reduce -21.1%
AMT American Tower Corp.	0.13%	65,284	$11.3M	Reduce -5.7%
MTDR Matador Resources Co.	0.13%	177,842	$11.2M	New
ACIW Aci Worldwide Inc.	0.12%	267,210	$11.0M	Reduce -0.1%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC	0.12%	148,366	$10.6M	Add +24.9%
ACI Albertsons Cos Inc. Class A	0.12%	617,740	$10.5M	Add +66.6%
NWSA News Corp. Class A	0.12%	420,822	$10.5M	Add +14.3%
GEO The Geo Group Inc.	0.12%	622,614	$10.5M	Reduce -0.1%
BRO Brown & Brown Inc.	0.12%	157,107	$10.2M	New
UNFI United Natural Foods Inc.	0.11%	224,438	$10.1M	New
VYX NCR Voyix Corp.	0.11%	1,551,205	$9.8M	Reduce -40.3%
JOE The St Joe Co.	0.10%	145,599	$9.1M	Add +5.6%
EXPE Expedia Group Inc.	0.10%	37,794	$8.7M	Add +21.7%
QSR Restaurant Brands Intern	0.10%	117,179	$8.7M	Reduce -86.4%
CRM Salesforce Inc.	0.10%	46,232	$8.6M	Reduce -6.9%
MDT Medtronic PLC	0.10%	99,275	$8.6M	Add +7.4%
APG Api Group Corp.	0.10%	210,118	$8.5M	Reduce -12.7%
TFII Tfi International Inc. filed as TRANSFORCE INC	0.10%	77,540	$8.4M	New
RELX Relx PLC - Spon ADR	0.10%	252,823	$8.4M	New
EOG EOG Resources Inc.	0.09%	55,680	$8.0M	Reduce -22.4%
YELP Yelp Inc.	0.09%	317,831	$7.9M	Reduce -72.6%
PEP Pepsico Inc.	0.09%	49,657	$7.7M	Reduce -7.6%
OVV Ovintiv Inc.	0.08%	124,051	$7.4M	Reduce -58.0%
AMGN Amgen Inc.	0.08%	20,693	$7.3M	Reduce -6.1%
RPM RPM International Inc.	0.08%	72,656	$7.2M	Add +13.5%
MORN Morningstar Inc.	0.08%	42,084	$7.1M	New
AVT Avnet Inc.	0.08%	113,806	$7.0M	Reduce -25.2%
ABBV Abbvie Inc.	0.08%	31,361	$6.8M	Reduce -6.6%
ALG Alamo Group Inc.	0.08%	40,709	$6.7M	Reduce -7.8%
JNJ Johnson & Johnson	0.07%	25,217	$6.2M	Reduce -31.4%
WSO Watsco Inc.	0.07%	15,905	$5.8M	Reduce -5.9%
ZTS Zoetis Inc.	0.06%	46,053	$5.4M	New
DUK Duke Energy Corp.	0.06%	41,568	$5.4M	Reduce -8.9%
ACN Accenture PLC Class A	0.06%	26,645	$5.3M	Reduce -25.6%
LEN.B Lennar Corp. Class B	0.06%	58,920	$5.0M	New
MU Micron Technology Inc.	0.06%	14,494	$4.9M	Reduce -54.1%
IDA Idacorp Inc.	0.05%	32,329	$4.6M	Reduce -30.7%
BMY Bristol-Myers Squibb Co.	0.04%	64,152	$3.9M	Reduce -33.0%
AES AES Corp.	0.04%	236,092	$3.3M	Reduce -25.7%
EPD Enterprise Products Partners	0.04%	87,510	$3.3M	Reduce -15.2%
CSCO Cisco Systems Inc.	0.04%	41,468	$3.2M	Reduce -6.0%
ORCL Oracle Corp.	0.04%	21,451	$3.2M	Reduce -37.2%
EXE Expand Energy Corp.	0.04%	28,086	$3.1M	Reduce -6.5%
GLW Corning Inc.	0.03%	20,703	$2.8M	Reduce -37.4%
QCOM Qualcomm Inc.	0.03%	20,697	$2.7M	New
MSFT Microsoft Corp.	0.03%	6,917	$2.6M	New
ET Energy Transfer LP	0.02%	105,635	$2.0M	Add +40.9%
CNI Canadian Natl Railway Co.	0.00%	4,072	$418K	Reduce -58.3%
META Meta Platforms Inc. Class A	0.00%	697	$399K	New
MRSH Marsh & McLennan Cos	0.00%	1,437	$249K	New

Other holdings (2): bonds, preferreds, convertibles and warrants · $12.6M (not counted above)

Security	Class	Shares / Principal	Value	Change
HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	101,571	$6.6M	Reduce -6.9%
ORACLE CORP (ORCL 6.5 01/15/29 D)	6.5 DEP CUM SR D	134,481	$6.1M	New

Total filed on the 13F, all lines: $8.8B.

Portfolio Sells Q4 2025 → Q1 2026


ARES Ares Management Corp. Class A	Sold out	0.00%	−1.43
LAD Lithia Motors Inc.	Reduce -12.1%	1.85%	−0.86
BN Brookfield Corp.	Sold out	0.00%	−0.86
CSL Carlisle Cos Inc.	Reduce -51.4%	0.61%	−0.55
QSR Restaurant Brands Intern	Reduce -86.4%	0.10%	−0.55
CACI Caci International Inc. Class A	Reduce -40.6%	0.92%	−0.55
KKR KKR & Co. Inc.	Sold out	0.00%	−0.53
ICLR Icon PLC	Reduce -22.2%	0.46%	−0.49
WEX Wex Inc.	Reduce -38.6%	0.83%	−0.44
CASY Casey's General Stores Inc.	Sold out	0.00%	−0.44
UNF Unifirst Corp.	Reduce -42.2%	1.43%	−0.40
DE Deere & Co.	Reduce -54.2%	0.54%	−0.40
CNH CNH Industrial NV	Reduce -67.2%	0.26%	−0.38
CNNE Cannae Holdings Inc.	Reduce -45.6%	0.25%	−0.37
WCC Wesco International Inc.	Reduce -63.3%	0.25%	−0.34
LMT Lockheed Martin Corp.	Reduce -57.2%	0.41%	−0.33
EVTC Evertec Inc.	Sold out	0.00%	−0.31
NSP Insperity Inc.	Sold out	0.00%	−0.31
YELP Yelp Inc.	Reduce -72.6%	0.09%	−0.30
AMRZ Amrize Ltd.	Reduce -22.2%	1.43%	−0.29
TXNM TXNM Energy Inc.	Reduce -55.5%	0.24%	−0.28
TRIP Tripadvisor Inc.	Reduce -34.9%	0.27%	−0.28
RPC Ridgepost Capital Inc. Class A	Reduce -34.1%	0.28%	−0.27
HCC Warrior Met Coal Inc.	Sold out	0.00%	−0.24
BAH Booz Allen Hamilton Holdings	Sold out	0.00%	−0.24
FCNCA First Citizens Bcshs Class A	Reduce -9.5%	1.07%	−0.23
DEO Diageo PLC-Sponsored ADR	Sold out	0.00%	−0.23
GNW Genworth Financial Inc.	Reduce -6.5%	1.41%	−0.21
SSNC Ss&c Technologies Holdings	Reduce -17.1%	0.37%	−0.19
BDX Becton Dickinson and Co.	Reduce -4.8%	0.74%	−0.19
GEHC GE Healthcare Technology	Reduce -4.8%	1.09%	−0.18
ALIT Alight Inc. Class A	Sold out	0.00%	−0.18
VYX NCR Voyix Corp.	Reduce -40.3%	0.11%	−0.18
TTAM Titan America SA	Reduce -18.7%	0.53%	−0.16
TPG TPG Inc.	Sold out	0.00%	−0.16
HUBG Hub Group Inc. Class A	Reduce -15.6%	0.46%	−0.16
OSK Oshkosh Corp.	Sold out	0.00%	−0.16
PKE Park Aerospace Corp.	Sold out	0.00%	−0.15
NWE Northwestern Energy Group Inc.	Reduce -20.4%	0.75%	−0.14
DAL Delta Air Lines Inc.	Reduce -13.2%	0.84%	−0.14
SN Sharkninja Inc.	Sold out	0.00%	−0.11
VOYA Voya Financial Inc.	Sold out	0.00%	−0.10
CG The Carlyle Group Inc.	Sold out	0.00%	−0.10
HHH Howard Hughes Holdings Inc.	Reduce -2.1%	0.37%	−0.09
ICUI Icu Medical Inc.	Reduce -0.7%	0.95%	−0.07
VMI Valmont Industries	Sold out	0.00%	−0.07
AXS Axis Capital Holdings Ltd.	Reduce -3.5%	1.17%	−0.07
FNF Fidelity National Financial	Sold out	0.00%	−0.07
AWI Armstrong World Industries	Reduce -0.5%	0.52%	−0.07
PSX Phillips 66	Sold out	0.00%	−0.06

Portfolio Buys Q4 2025 → Q1 2026


AXP American Express Co.	New	1.30%	+1.30
TFX Teleflex Inc.	New	1.25%	+1.25
CALM Cal-Maine Foods Inc.	New	1.23%	+1.23
DIS The Walt Disney Co.	New	1.07%	+1.07
CEG Constellation Energy	New	0.91%	+0.91
KDP Keurig Dr Pepper Inc.	New	0.82%	+0.82
AMZN Amazon.com Inc.	New	0.77%	+0.77
SFM Sprouts Farmers Market Inc.	New	0.61%	+0.61
BJ Bj's Wholesale Club Holdings	Add +2.9%	3.91%	+0.55
MAA Mid-America Apartment Comm	Add +52.3%	1.98%	+0.55
DNOW Dnow Inc.	New	0.54%	+0.54
WFC Wells Fargo & Co.	Add +413.6%	0.64%	+0.50
ATR Aptargroup Inc.	Add +28.3%	1.68%	+0.46
LH Labcorp Holdings Inc.	Add +23.7%	1.53%	+0.41
GXO Gxo Logistics Inc.	Add +20.3%	2.08%	+0.38
WTW Willis Towers Watson PLC	Add +42.4%	1.60%	+0.37
UGI Ugi Corp.	New	0.32%	+0.32
IFF Intl Flavors & Fragrances	Add +29.9%	1.04%	+0.32
CHE Chemed Corp.	New	0.31%	+0.31
IWD iShares Russell 1000 Value E	New	0.29%	+0.29
MGRC McGrath Rentcorp	Add +1.4%	2.71%	+0.25
RDN Radian Group Inc.	Add +129.4%	0.42%	+0.23
CBSH Commerce Bancshares Inc.	New	0.19%	+0.19
IRT Independence Realty Trust Inc.	New	0.18%	+0.18
COO The Cooper Cos Inc.	Add +24.8%	1.60%	+0.18
INGM Ingram Micro Holding Corp.	Add +31.9%	0.47%	+0.15
SMPL The Simply Good Foods Co.	Add +89.0%	0.49%	+0.14
MSGS Madison Square Garden Sports	New	0.13%	+0.13
MTDR Matador Resources Co.	New	0.13%	+0.13
BRO Brown & Brown Inc.	New	0.12%	+0.12
UNFI United Natural Foods Inc.	New	0.11%	+0.11
CRH CRH PLC	Add +24.0%	1.53%	+0.11
PRSU Pursuit Attractions and Hosp	Add +2.0%	0.86%	+0.11
TFII Tfi International Inc.	New	0.10%	+0.10
RELX Relx PLC - Spon ADR	New	0.10%	+0.10
MORN Morningstar Inc.	New	0.08%	+0.08
GPC Genuine Parts Co.	Add +89.0%	0.19%	+0.08
BATRK Atlanta Braves Holdings in-C	Add +50.7%	0.15%	+0.06
ZTS Zoetis Inc.	New	0.06%	+0.06
PAYC Paycom Software Inc.	Add +37.4%	0.74%	+0.06
LEN.B Lennar Corp. Class B	New	0.06%	+0.06
CXW Corecivic Inc.	Add +0.4%	1.93%	+0.05
UFPI Ufp Industries Inc.	Add +1.1%	0.93%	+0.05
ACI Albertsons Cos Inc. Class A	Add +66.6%	0.12%	+0.05
QCOM Qualcomm Inc.	New	0.03%	+0.03
MSFT Microsoft Corp.	New	0.03%	+0.03
SNN Smith & Nephew PLC -Spon ADR	Add +2.3%	1.17%	+0.03
TXN Texas Instruments Inc.	Add +2.5%	0.13%	+0.02
CCL Carnival Corp.	Add +27.5%	0.18%	+0.02
ABG Asbury Automotive Group	Add +18.6%	0.56%	+0.02

Notes & Other Activity Q4 2025 → Q1 2026


HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	Reduce -6.9%	101,571	$6.6M
ORACLE CORP (ORCL 6.5 01/15/29 D)	6.5 DEP CUM SR D	New	134,481	$6.1M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	173	$9.0B	BJ, MGRC, WTM, CXW, BRK.B
Q1 2026	174	$8.8B	BJ, WTM, MGRC, BRK.B, MUSA
Q4 2025	174	$9.1B	BJ, WTM, LAD, BRK.B, MGRC
Q3 2025	175	$8.9B	BJ, MGRC, CACI, BRK.B, MUSA
Q2 2025	181	$7.9B	MGRC, BJ, WTM, MUSA, CXW
Q1 2025	180	$7.4B	BJ, WTM, MGRC, MUSA, CXW
Q4 2024	171	$7.5B	BJ, WTM, MGRC, TLN, CXW
Q3 2024	172	$7.6B	TLN, BJ, WTM, MUSA, UNF
Q2 2024	173	$7.0B	BJ, WTM, MUSA, LKQ, UNF
Q1 2024	165	$7.4B	BJ, LKQ, ATKR, WTM, WEX