Susquehanna Fundamental Investments, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Susquehanna Fundamental Investments, LLC reported 1,053 stock positions worth $6.0 billion. Its top holding was Coca-Cola (KO) at 0.9% of the portfolio, followed by Honeywell International (HON, 0.9%) and JPMorgan Chase (JPM, 0.8%). Compared with Q4 2024, it opened 200 new positions, sold out of 210, added to 309 and reduced 441. The biggest buy was General Dynamics (GD, shares +16828%) and the biggest sale Philip Morris International (PM, shares −84%).

Most Recent 13F
Q2 2026
Location
BALA CYNWYD, PA
CIK
0001446179
Portfolio Value
$6.0B (Q1 2025)
SEC Filing
0001446179-25-000004 ↗ filed May 14, 2025

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $2.1B Q1 2024 Q2 2024: $4.3B Q2 2024 Q4 2024: $6.0B Q4 2024 Q1 2025: $6.0B $6.0B Q1 2025 Q2 2025: $3.7B Q2 2025 Q3 2025: $2.6B Q3 2025 Q4 2025: $2.9B Q4 2025 Q1 2026: $2.7B Q1 2026 Q2 2026: $5.3B Q2 2026

Holdings 1,053 stocks · $6.0B
KO The Coca-Cola Co. 0.87% 728,160 $52.2M Add +11.4%
HON Honeywell International Inc. 0.86% 241,484 $51.1M Add +388.6%
JPM JPMorgan Chase & Co. 0.80% 194,386 $47.7M Reduce -36.0%
CI The Cigna Group 0.79% 143,491 $47.2M Add +3611.6%
CVS CVS Health Corp. 0.79% 693,174 $47.0M Add +10.3%
GD General Dynamics Corp. 0.78% 170,969 $46.6M Add +16827.6%
MMM 3M Co. 0.77% 312,592 $45.9M No change
NEM Newmont Corp. 0.76% 934,990 $45.1M Add +25.6%
SBUX Starbucks Corp. 0.75% 459,155 $45.0M No change
BMY Bristol-Myers Squibb Co. 0.74% 723,155 $44.1M Reduce -6.2%
WMT Walmart Inc. 0.73% 497,899 $43.7M No change
AMGN Amgen Inc. 0.73% 138,916 $43.3M New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.72% 172,012 $42.8M No change
AON Aon PLC Class A 0.70% 105,409 $42.1M Add +0.2%
QCOM Qualcomm Inc. 0.69% 267,238 $41.1M Add +64.0%
EPD Enterprise Products Partners 0.66% 1,145,365 $39.1M Reduce -1.0%
EA Electronic Arts Inc. 0.65% 266,343 $38.5M Add +213.4%
GEHC GE Healthcare Technology 0.63% 466,552 $37.7M Add +74.6%
PLD Prologis Inc. 0.62% 333,008 $37.2M Reduce -11.7%
MNST Monster Beverage Corp. 0.62% 635,391 $37.2M Add +452.6%
ADP Automatic Data Processing 0.61% 119,517 $36.5M Add +119.6%
TSLA Tesla Inc. 0.61% 140,155 $36.3M No change
PYPL PayPal Holdings Inc. 0.61% 556,488 $36.3M No change
YUM Yum! Brands Inc. 0.61% 230,475 $36.3M Add +117.5%
ISRG Intuitive Surgical Inc. 0.59% 71,632 $35.5M Add +0.8%
BX Blackstone Inc. 0.57% 242,513 $33.9M Add +19.6%
AZO AutoZone Inc. 0.56% 8,814 $33.6M Add +35.8%
VEEV Veeva Systems Inc. Class A 0.56% 144,084 $33.4M Add +17.4%
MCK McKesson Corp. 0.56% 49,509 $33.3M Add +1.9%
CRH CRH PLC 0.55% 374,787 $33.0M No change
FCX Freeport-McMoran Inc. 0.55% 859,733 $32.5M Add +421.7%
HWM Howmet Aerospace Inc. 0.54% 249,780 $32.4M Reduce -12.3%
MSI Motorola Solutions Inc. 0.54% 73,760 $32.3M Add +91.3%
AWK American Water Works Co. Inc. 0.54% 217,364 $32.1M New
C Citigroup Inc. 0.54% 451,173 $32.0M Reduce -12.9%
FIX Comfort Systems USA Inc. 0.52% 96,528 $31.1M No change
INTC Intel Corp. 0.52% 1,369,510 $31.1M Add +404.4%
GILD Gilead Sciences Inc. 0.51% 271,671 $30.4M Reduce -8.5%
IR Ingersoll-Rand Inc. 0.50% 376,406 $30.1M Add +238.4%
EXC Exelon Corp. 0.50% 651,531 $30.0M Add +17.6%
MCD McDonald's Corp. 0.50% 95,881 $30.0M Add +3.5%
STT State Street Corp. 0.49% 323,424 $29.0M Add +14.1%
DELL Dell Technologies -C 0.48% 312,315 $28.5M New
DOW Dow Inc. 0.48% 812,312 $28.4M Add +30.4%
FE Firstenergy Corp. 0.47% 695,761 $28.1M Add +49.0%
RY Royal Bank of Canada 0.46% 246,000 $27.7M Reduce -7.2%
VRSK Verisk Analytics Inc. 0.45% 90,977 $27.1M Reduce -1.0%
DG Dollar General Corp. 0.45% 304,343 $26.8M Add +51.0%
HCA HCA Healthcare Inc. 0.44% 76,364 $26.4M New
HSY The Hershey Co. 0.44% 154,022 $26.3M New
NVR NVR Inc. 0.44% 3,591 $26.0M New
EQT Eqt Corp. 0.44% 485,924 $26.0M Reduce -15.9%
MFC Manulife Financial Corp. 0.43% 830,800 $25.9M Reduce -5.0%
NOC Northrop Grumman Corp. 0.43% 50,426 $25.8M Reduce -36.3%
KR Kroger Co. 0.43% 378,567 $25.6M Reduce -15.3%
SNOW Snowflake Inc. 0.43% 175,175 $25.6M No change
SPOT Spotify Technology SA 0.43% 46,398 $25.5M Reduce -6.8%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.43% 778,589 $25.4M Reduce -11.3%
CNH CNH Industrial NV 0.41% 2,015,205 $24.7M Add +37.2%
CSGP Costar Group Inc. 0.41% 309,257 $24.5M Add +1293.5%
LPLA LPL Financial Holdings Inc. 0.41% 74,696 $24.4M No change
STLD Steel Dynamics Inc. 0.40% 190,208 $23.8M New
CAH Cardinal Health Inc. 0.39% 170,962 $23.6M Reduce -20.2%
URI United Rentals Inc. 0.39% 37,492 $23.5M Add +3029.6%
MET Metlife Inc. 0.39% 292,464 $23.5M Add +69.6%
ODFL Old Dominion Freight Line 0.38% 135,568 $22.4M Add +1.8%
EXE Expand Energy Corp. 0.37% 198,206 $22.1M Add +26.6%
DVN Devon Energy Corp. 0.36% 577,196 $21.6M Reduce -11.7%
BR Broadridge Financial Solutio 0.36% 88,699 $21.5M Add +90.2%
CMS CMS Energy Corp. 0.35% 281,869 $21.2M Reduce -10.7%
OKTA Okta Inc. 0.35% 198,738 $20.9M No change
KIM Kimco Realty Corp. 0.35% 974,267 $20.7M Add +384.6%
CTAS Cintas Corp. 0.35% 100,324 $20.6M No change
ZM Zoom Communications Inc. 0.34% 275,486 $20.3M Add +10.5%
STX Seagate Technology Holdings 0.34% 239,024 $20.3M Add +1452.2%
PCAR Paccar Inc. 0.34% 205,427 $20.0M Reduce -34.5%
SRE Sempra 0.33% 277,315 $19.8M Add +305.4%
LMT Lockheed Martin Corp. 0.33% 44,155 $19.7M Reduce -2.2%
CVX Chevron Corp. 0.33% 117,063 $19.6M No change
TXT Textron Inc. 0.32% 267,884 $19.4M New
ADSK Autodesk Inc. 0.32% 73,471 $19.2M Reduce -17.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.31% 153,420 $18.7M Reduce -42.5%
ET Energy Transfer LP 0.31% 1,003,828 $18.7M Reduce -7.7%
YUMC Yum China Holdings Inc. 0.31% 356,826 $18.6M New
WELL Welltower Inc. 0.31% 121,165 $18.6M Reduce -44.3%
ETN Eaton Corp. PLC 0.31% 67,904 $18.5M Add +20.1%
CTVA Corteva Inc. 0.31% 292,279 $18.4M Reduce -12.4%
EW Edwards Lifesciences Corp. 0.31% 252,695 $18.3M Reduce -44.9%
TWLO Twilio Inc. Class A 0.30% 183,204 $17.9M No change
PCG P G & E Corp. 0.30% 1,032,781 $17.7M Add +156.6%
WBA Walgreens Boots Alliance Inc. 0.30% 1,583,274 $17.7M Add +18.5%
ACI Albertsons Cos Inc. Class A 0.29% 800,168 $17.6M Add +1380.4%
TXRH Texas Roadhouse Inc. 0.29% 104,650 $17.4M Add +1121.7%
CHTR Charter Communications Inc. Class A 0.29% 47,306 $17.4M No change
BG Bunge Global SA 0.29% 225,304 $17.2M Add +24.5%
PEG Public Service Enterprise GP 0.29% 208,115 $17.1M Reduce -51.7%
MSFT Microsoft Corp. 0.28% 45,020 $16.9M New
CHRD Chord Energy Corp. 0.28% 149,791 $16.9M Reduce -24.3%
TRGP Targa Resources Corp. 0.28% 83,519 $16.7M No change
NI Nisource Inc. 0.28% 412,974 $16.6M Add +196.7%

Show all 1,053 holdings

Options reported separately and not counted above: V calls ($1.2B).

Other holdings (1): bonds, preferreds, convertibles and warrants · $30K (not counted above)
SecurityClassShares / PrincipalValueChange
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 13,092$30KNo change

Total filed on the 13F, all lines: $6.0B.

Portfolio Sells Q4 2024 → Q1 2025
PM Philip Morris International Reduce -84.3% 0.17% −0.64
GOOGL Alphabet Inc. Class A Sold out 0.00% −0.61
PFE Pfizer Inc. Sold out 0.00% −0.58
BNY Bank of New York Mellon Corp. Reduce -82.8% 0.13% −0.56
SLB SLB Ltd. Sold out 0.00% −0.55
MRK Merck & Co. Inc. Reduce -89.1% 0.05% −0.50
TXN Texas Instruments Inc. Reduce -80.9% 0.11% −0.48
JPM JPMorgan Chase & Co. Reduce -36.0% 0.80% −0.42
IBKR Interactive Brokers Gro Class A Reduce -94.1% 0.02% −0.38
CMI Cummins Inc. Reduce -58.1% 0.23% −0.38
APH Amphenol Corp. Class A Reduce -82.6% 0.07% −0.36
GM General Motors Co. Reduce -80.0% 0.08% −0.35
UAL United Airlines Holdings Inc. Reduce -77.9% 0.06% −0.33
PEG Public Service Enterprise GP Reduce -51.7% 0.29% −0.32
CM Can Imperial BK of Commerce Reduce -62.8% 0.16% −0.31
ETR Entergy Corp. Reduce -57.6% 0.24% −0.26
EW Edwards Lifesciences Corp. Reduce -44.9% 0.31% −0.26
NBIX Neurocrine Biosciences Inc. Sold out 0.00% −0.26
WEC WEC Energy Group Inc. Reduce -71.0% 0.13% −0.26
MLM Martin Marietta Materials Reduce -94.3% 0.01% −0.24
EG Everest Group Ltd. Reduce -82.5% 0.05% −0.24
EFX Equifax Inc. Reduce -59.0% 0.15% −0.24
PNW Pinnacle West Capital Sold out 0.00% −0.24
CDNS Cadence Design SYS Inc. Sold out 0.00% −0.24
ALC Alcon Inc. Reduce -94.1% 0.02% −0.24
AAPL Apple Inc. Reduce -40.6% 0.26% −0.24
WST West Pharmaceutical Services Reduce -93.2% 0.01% −0.23
TJX TJX Companies Inc. Reduce -42.5% 0.31% −0.23
SLF Sun Life Financial Inc. Reduce -61.7% 0.13% −0.23
ALNY Alnylam Pharmaceuticals Inc. Sold out 0.00% −0.22
PCAR Paccar Inc. Reduce -34.5% 0.34% −0.21
PWR Quanta Services Inc. Sold out 0.00% −0.21
DXCM Dexcom Inc. Reduce -46.1% 0.19% −0.21
ULTA Ulta Beauty Inc. Reduce -46.1% 0.17% −0.20
UTHR United Therapeutics Corp. Reduce -63.0% 0.10% −0.20
NTR Nutrien Ltd. Reduce -64.9% 0.13% −0.20
TER Teradyne Inc. Sold out 0.00% −0.20
DAL Delta Air Lines Inc. Sold out 0.00% −0.20
NOC Northrop Grumman Corp. Reduce -36.3% 0.43% −0.19
ILMN Illumina Inc. Reduce -94.2% 0.01% −0.18
AME Ametek Inc. Reduce -44.9% 0.20% −0.18
COP Conocophillips Sold out 0.00% −0.18
JKHY Jack Henry & Associates Inc. Reduce -83.2% 0.04% −0.18
ACM Aecom Reduce -85.3% 0.03% −0.18
PSN Parsons Corp. Sold out 0.00% −0.17
LUV Southwest Airlines Co. Reduce -81.0% 0.04% −0.17
PRU Prudential Financial Inc. Reduce -72.4% 0.06% −0.17
WHR Whirlpool Corp. Reduce -94.5% 0.01% −0.17
CRS Carpenter Technology Reduce -71.5% 0.07% −0.17
VFC VF Corp. Reduce -71.1% 0.04% −0.16

Portfolio Buys Q4 2024 → Q1 2025
GD General Dynamics Corp. Add +16827.6% 0.78% +0.78
CI The Cigna Group Add +3611.6% 0.79% +0.77
AMGN Amgen Inc. New 0.73% +0.73
HON Honeywell International Inc. Add +388.6% 0.86% +0.67
AWK American Water Works Co. Inc. New 0.54% +0.54
MNST Monster Beverage Corp. Add +452.6% 0.62% +0.52
DELL Dell Technologies -C New 0.48% +0.48
HCA HCA Healthcare Inc. New 0.44% +0.44
HSY The Hershey Co. New 0.44% +0.44
FCX Freeport-McMoran Inc. Add +421.7% 0.55% +0.44
EA Electronic Arts Inc. Add +213.4% 0.65% +0.44
NVR NVR Inc. New 0.44% +0.44
INTC Intel Corp. Add +404.4% 0.52% +0.43
STLD Steel Dynamics Inc. New 0.40% +0.40
CSGP Costar Group Inc. Add +1293.5% 0.41% +0.38
URI United Rentals Inc. Add +3029.6% 0.39% +0.38
YUM Yum! Brands Inc. Add +117.5% 0.61% +0.37
ADP Automatic Data Processing Add +119.6% 0.61% +0.34
IR Ingersoll-Rand Inc. Add +238.4% 0.50% +0.34
TXT Textron Inc. New 0.32% +0.32
STX Seagate Technology Holdings Add +1452.2% 0.34% +0.32
CVS CVS Health Corp. Add +10.3% 0.79% +0.31
YUMC Yum China Holdings Inc. New 0.31% +0.31
NEM Newmont Corp. Add +25.6% 0.76% +0.29
MSFT Microsoft Corp. New 0.28% +0.28
GEHC GE Healthcare Technology Add +74.6% 0.63% +0.28
ACI Albertsons Cos Inc. Class A Add +1380.4% 0.29% +0.28
QCOM Qualcomm Inc. Add +64.0% 0.69% +0.27
KIM Kimco Realty Corp. Add +384.6% 0.35% +0.27
TXRH Texas Roadhouse Inc. Add +1121.7% 0.29% +0.27
DFS Discover Financial Services New 0.26% +0.26
MSI Motorola Solutions Inc. Add +91.3% 0.54% +0.24
AMH American Homes 4 Rent- A Add +700.6% 0.27% +0.24
SRE Sempra Add +305.4% 0.33% +0.23
EGP Eastgroup Properties Inc. Add +1029.4% 0.25% +0.23
MSCI MSCI Inc. Add +1083.0% 0.25% +0.23
CBOE Cboe Global Markets Inc. Add +1568.4% 0.23% +0.22
TRU Transunion New 0.22% +0.22
COR Cencora Inc. Add +743.1% 0.24% +0.22
AZO AutoZone Inc. Add +35.8% 0.56% +0.21
MOS The Mosaic Co. New 0.21% +0.21
FYBR Frontier Communications Pare Add +339.8% 0.26% +0.20
UBER Uber Technologies Inc. Add +1044.3% 0.21% +0.20
DG Dollar General Corp. Add +51.0% 0.45% +0.19
NI Nisource Inc. Add +196.7% 0.28% +0.19
KO The Coca-Cola Co. Add +11.4% 0.87% +0.19
YMM Full Truck Alliance -SPN ADR New 0.19% +0.19
BSY Bentley Systems Inc. Class B New 0.19% +0.19
BR Broadridge Financial Solutio Add +90.2% 0.36% +0.18
GXO Gxo Logistics Inc. New 0.18% +0.18

Options Activity Q4 2024 → Q1 2025
V Visa Inc. Class A call Add +3.5% 3,400,000 $1.2B

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 735$5.3BGE, V, UBER, ADP, WM
Q1 2026 466$2.7BMSFT, ADBE, V, NOW, ADP
Q4 2025 548$2.9BCRM, GD, ADP, C, CTAS
Q3 2025 549$2.6BNEM, GD, HON, CM, C
Q2 2025 707$3.7BHON, NEM, FIX, GD, CI
Q1 2025 1,053$6.0BKO, HON, JPM, CI, CVS
Q4 2024 1,062$6.0BJPM, TSLA, PM, PYPL, WMT
Q2 2024 918$4.3BJPM, WMT, ADBE, CRWD, PM
Q1 2024 664$2.1BCVS, BA, PFE, PM, JPM