Route One Investment Company, L.P.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Route One Investment Company, L.P. reported 16 stock positions worth $2.5 billion. Its top holding was Guidewire Software (GWRE) at 17.0% of the portfolio, followed by Post (POST, 15.1%) and Amazon.com (AMZN, 11.4%). Compared with Q2 2025, it opened 2 new positions, added to 4 and reduced 2. The biggest buy was a new position in Bellring Brands (BRBR) and the biggest sale Schwab (charles) (SCHW, shares −11%).
- Most Recent 13F
- Q2 2026
- Location
- San Francisco, CA
- CIK
- 0001512171
- Portfolio Value
- $2.5B (Q3 2025)
- SEC Filing
- 0000935836-25-000701 ↗ filed Nov 14, 2025
Holdings Value
Holdings 16 stocks · $2.5B
| GWRE Guidewire Software Inc. | 17.05% | 1,818,009 | $417.9M | No change |
| POST Post Holdings Inc. filed as POST HLDGS INC | 15.05% | 3,432,918 | $369.0M | Add +0.6% |
| AMZN Amazon.com Inc. | 11.44% | 1,276,550 | $280.3M | No change |
| SCHW Schwab (charles) Corp. | 8.74% | 2,244,193 | $214.3M | Reduce -10.8% |
| NYT New York Times Co. Class A | 8.66% | 3,699,259 | $212.3M | No change |
| GOOG Alphabet Inc. Class C | 7.41% | 745,380 | $181.5M | No change |
| UNH Unitedhealth Group Inc. | 7.15% | 507,300 | $175.2M | Add +7.9% |
| TMO Thermo Fisher Scientific Inc. | 5.81% | 293,380 | $142.3M | No change |
| KRC Kilroy Realty Corp. | 4.52% | 2,619,611 | $110.7M | Add +161.7% |
| BRBR Bellring Brands Inc. | 3.42% | 2,302,856 | $83.7M | New |
| CRM Salesforce Inc. | 3.27% | 338,650 | $80.3M | No change |
| PCOR Procore Technologies Inc. | 2.73% | 918,205 | $67.0M | No change |
| HLF Herbalife Ltd. | 2.59% | 7,528,938 | $63.5M | Add +22.2% |
| VEEV Veeva Systems Inc. Class A | 1.89% | 155,100 | $46.2M | No change |
| GOOGL Alphabet Inc. Class A | 0.20% | 19,960 | $4.9M | Reduce -87.7% |
| TBBB BBB Foods Inc. Class A | 0.09% | 78,117 | $2.1M | New |
Options reported separately and not counted above: GOOGL puts ($194.5M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $56.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 59,525,000 | $56.2M | No change |
Total filed on the 13F, all lines: $2.5B.
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
Options Activity Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | put | New | 800,000 | $194.5M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $2.4B | POST, AMZN, GWRE, GOOG, UNH |
| Q1 2026 | 18 | $2.3B | POST, GWRE, AMZN, NYT, GOOG |
| Q4 2025 | 15 | $2.4B | GWRE, POST, AMZN, GOOG, NYT |
| Q3 2025 | 16 | $2.5B | GWRE, POST, AMZN, SCHW, NYT |
| Q2 2025 | 14 | $2.2B | GWRE, POST, AMZN, SCHW, NYT |
| Q1 2025 | 13 | $2.3B | POST, GWRE, SCHW, AMZN, UNH |
| Q4 2024 | 13 | $2.5B | POST, GWRE, AMZN, SCHW, UNH |
| Q3 2024 | 15 | $2.8B | GWRE, POST, AMZN, UNH, SCHW |
| Q2 2024 | 15 | $2.6B | POST, GWRE, AMZN, UNH, GOOG |
| Q1 2024 | 16 | $2.5B | POST, GWRE, AMZN, UNH, CRM |