Susquehanna Fundamental Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Susquehanna Fundamental Investments, LLC reported 549 stock positions worth $2.6 billion. Its top holding was Newmont (NEM) at 3.1% of the portfolio, followed by General Dynamics (GD, 2.3%) and Honeywell International (HON, 2.0%). Compared with Q2 2025, it opened 80 new positions, sold out of 238, added to 36 and reduced 304. The biggest buy was a new position in Salesforce (CRM) and the biggest sale Comfort Systems USA (FIX, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- BALA CYNWYD, PA
- CIK
- 0001446179
- Portfolio Value
- $2.6B (Q3 2025)
- SEC Filing
- 0001446179-25-000008 ↗ filed Nov 14, 2025
Holdings Value
Holdings 549 stocks · $2.6B
| NEM Newmont Corp. | 3.08% | 934,990 | $78.8M | No change |
| GD General Dynamics Corp. | 2.28% | 170,969 | $58.3M | No change |
| HON Honeywell International Inc. | 2.00% | 242,784 | $51.1M | Add +0.5% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 1.80% | 576,200 | $46.0M | Add +53.5% |
| C Citigroup Inc. | 1.78% | 448,773 | $45.6M | Reduce -0.5% |
| CRM Salesforce Inc. | 1.74% | 188,091 | $44.6M | New |
| DELL Dell Technologies -C | 1.73% | 311,895 | $44.2M | No change |
| MNST Monster Beverage Corp. | 1.67% | 635,391 | $42.8M | No change |
| SNOW Snowflake Inc. | 1.54% | 175,175 | $39.5M | No change |
| MCK McKesson Corp. | 1.38% | 45,687 | $35.3M | Reduce -7.7% |
| YUM Yum! Brands Inc. | 1.37% | 230,475 | $35.0M | No change |
| CCJ Cameco Corp. | 1.35% | 411,400 | $34.5M | Reduce -2.3% |
| CVS CVS Health Corp. | 1.34% | 455,297 | $34.3M | Reduce -0.7% |
| DG Dollar General Corp. | 1.23% | 304,343 | $31.5M | No change |
| EA Electronic Arts Inc. | 1.21% | 153,434 | $30.9M | No change |
| WM Waste Management Inc. | 1.13% | 131,483 | $29.0M | New |
| HCA HCA Healthcare Inc. | 1.11% | 66,530 | $28.4M | No change |
| HSY The Hershey Co. | 1.08% | 148,156 | $27.7M | Reduce -3.8% |
| STLD Steel Dynamics Inc. | 1.03% | 189,938 | $26.5M | No change |
| FCX Freeport-McMoran Inc. | 1.02% | 667,584 | $26.2M | No change |
| FE Firstenergy Corp. | 1.00% | 559,390 | $25.6M | Reduce -8.4% |
| AZO AutoZone Inc. | 0.98% | 5,846 | $25.1M | Reduce -24.0% |
| NVR NVR Inc. | 0.96% | 3,053 | $24.5M | Reduce -0.3% |
| AWK American Water Works Co. Inc. | 0.95% | 175,283 | $24.4M | Reduce -3.2% |
| STT State Street Corp. | 0.94% | 208,020 | $24.1M | Reduce -6.5% |
| EXC Exelon Corp. | 0.90% | 510,238 | $23.0M | Reduce -5.3% |
| LMT Lockheed Martin Corp. | 0.86% | 43,854 | $21.9M | Reduce -0.7% |
| TXT Textron Inc. | 0.83% | 250,963 | $21.2M | No change |
| RSG Republic Services Inc. | 0.82% | 91,000 | $20.9M | Add +66.1% |
| KO The Coca-Cola Co. | 0.80% | 310,013 | $20.6M | Reduce -11.8% |
| CB Chubb Ltd. | 0.77% | 70,086 | $19.8M | Add +860.1% |
| CNH CNH Industrial NV | 0.72% | 1,703,842 | $18.5M | Reduce -1.9% |
| OKTA Okta Inc. | 0.71% | 198,738 | $18.2M | No change |
| MSI Motorola Solutions Inc. | 0.71% | 39,538 | $18.1M | Reduce -18.1% |
| LPLA LPL Financial Holdings Inc. | 0.66% | 50,745 | $16.9M | Reduce -32.1% |
| COF Capital One Financial Corp. | 0.64% | 77,582 | $16.5M | No change |
| ET Energy Transfer LP | 0.64% | 958,857 | $16.5M | Reduce -4.5% |
| COR Cencora Inc. | 0.64% | 52,248 | $16.3M | No change |
| ITT Itt Inc. | 0.64% | 90,986 | $16.3M | Reduce -2.6% |
| PKG Packaging Corp. of America | 0.63% | 74,391 | $16.2M | No change |
| MOS The Mosaic Co. | 0.63% | 461,144 | $16.0M | No change |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.58% | 457,395 | $14.9M | No change |
| FYBR Frontier Communications Pare | 0.57% | 391,502 | $14.6M | Reduce -5.8% |
| CBOE Cboe Global Markets Inc. | 0.56% | 58,030 | $14.2M | Reduce -6.0% |
| IR Ingersoll-Rand Inc. | 0.55% | 170,090 | $14.1M | Reduce -53.6% |
| BSY Bentley Systems Inc. Class B | 0.55% | 271,865 | $14.0M | Add +9.5% |
| ATO Atmos Energy Corp. | 0.54% | 80,229 | $13.7M | Reduce -3.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.53% | 94,587 | $13.7M | Reduce -38.4% |
| BR Broadridge Financial Solutio | 0.53% | 57,228 | $13.6M | Reduce -0.0% |
| ETN Eaton Corp. PLC | 0.53% | 36,050 | $13.5M | Reduce -46.9% |
| YMM Full Truck Alliance -SPN ADR | 0.52% | 1,034,085 | $13.4M | Add +73.7% |
| URBN Urban Outfitters Inc. | 0.52% | 186,209 | $13.3M | No change |
| WDC Western Digital Corp. | 0.50% | 105,654 | $12.7M | Reduce -61.8% |
| BCE Bce Inc. | 0.48% | 522,458 | $12.2M | Reduce -6.8% |
| CNP Centerpoint Energy Inc. | 0.48% | 314,192 | $12.2M | No change |
| UBER Uber Technologies Inc. | 0.46% | 120,654 | $11.8M | Add +39.1% |
| EXR Extra Space Storage Inc. | 0.46% | 83,825 | $11.8M | No change |
| HUBB Hubbell Inc. | 0.46% | 27,327 | $11.8M | Reduce -17.4% |
| RY Royal Bank of Canada | 0.43% | 75,500 | $11.1M | Reduce -69.3% |
| AXP American Express Co. | 0.43% | 33,317 | $11.1M | No change |
| NI Nisource Inc. | 0.42% | 248,832 | $10.8M | Reduce -17.4% |
| DOC Healthpeak Properties Inc. | 0.42% | 559,662 | $10.7M | Reduce -25.1% |
| LNT Alliant Energy Corp. | 0.42% | 158,422 | $10.7M | Reduce -9.6% |
| CMS CMS Energy Corp. | 0.41% | 143,784 | $10.5M | Reduce -21.1% |
| QRVO Qorvo Inc. | 0.40% | 112,450 | $10.2M | No change |
| CRUS Cirrus Logic Inc. | 0.39% | 80,078 | $10.0M | Reduce -4.2% |
| STX Seagate Technology Holdings | 0.39% | 42,398 | $10.0M | No change |
| XEL Xcel Energy Inc. | 0.39% | 123,300 | $9.9M | Reduce -12.7% |
| WYNN WYNN Resorts Ltd. | 0.38% | 76,724 | $9.8M | Reduce -3.8% |
| KIM Kimco Realty Corp. | 0.36% | 423,921 | $9.3M | Reduce -47.8% |
| SBRA Sabra Health Care REIT Inc. | 0.36% | 489,749 | $9.1M | No change |
| ALV Autoliv Inc. | 0.34% | 71,053 | $8.8M | Reduce -19.5% |
| AMGN Amgen Inc. | 0.34% | 30,566 | $8.6M | Reduce -41.2% |
| SPOT Spotify Technology SA | 0.34% | 12,298 | $8.6M | Reduce -68.7% |
| VTR Ventas Inc. | 0.33% | 120,755 | $8.5M | No change |
| AES AES Corp. | 0.33% | 638,261 | $8.4M | No change |
| UMBF Umb Financial Corp. | 0.33% | 70,936 | $8.4M | No change |
| RNR Renaissancere Holdings Ltd. | 0.32% | 32,510 | $8.3M | Reduce -45.6% |
| OHI Omega Healthcare Investors | 0.32% | 192,085 | $8.1M | Reduce -1.0% |
| ACI Albertsons Cos Inc. Class A | 0.31% | 459,093 | $8.0M | Reduce -37.7% |
| CVI CVR Energy Inc. | 0.31% | 220,134 | $8.0M | No change |
| GILD Gilead Sciences Inc. | 0.31% | 72,241 | $8.0M | Reduce -73.4% |
| RJF Raymond James Financial Inc. | 0.31% | 46,019 | $7.9M | Reduce -29.9% |
| OPCH Option Care Health Inc. | 0.30% | 280,662 | $7.8M | No change |
| ENSG The Ensign Group Inc. | 0.30% | 45,018 | $7.8M | No change |
| ALLY Ally Financial Inc. | 0.29% | 191,238 | $7.5M | No change |
| CAR Avis Budget Group Inc. | 0.28% | 45,210 | $7.3M | Reduce -34.5% |
| TWLO Twilio Inc. Class A | 0.28% | 72,319 | $7.2M | Reduce -57.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.28% | 23,311 | $7.2M | Add +513.6% |
| DOW Dow Inc. | 0.28% | 313,306 | $7.2M | Reduce -61.4% |
| WAB Wabtec Corp. | 0.28% | 35,481 | $7.1M | Reduce -11.6% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.28% | 111,697 | $7.1M | Add +213.5% |
| FER Ferrovial NV | 0.28% | 120,387 | $7.1M | Reduce -48.5% |
| RBLX Roblox Corp. Class A | 0.27% | 50,214 | $7.0M | Reduce -51.5% |
| FCFS Firstcash Holdings Inc. | 0.26% | 41,764 | $6.6M | No change |
| EFX Equifax Inc. | 0.26% | 25,520 | $6.5M | New |
| NYT New York Times Co. Class A | 0.26% | 113,838 | $6.5M | Reduce -1.2% |
| QGEN Qiagen N.V. | 0.25% | 144,689 | $6.5M | No change |
| LNC Lincoln National Corp. | 0.25% | 160,111 | $6.5M | Reduce -6.9% |
| QLYS Qualys Inc. | 0.25% | 48,420 | $6.4M | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $49K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 13,092 | $49K | No change |
Total filed on the 13F, all lines: $2.6B.
Portfolio Sells Q2 2025 → Q3 2025
| FIX Comfort Systems USA Inc. | Reduce -98.9% | 0.03% | −1.34 |
| CI The Cigna Group | Sold out | 0.00% | −1.28 |
| IBM Intl Business Machines Corp. | Reduce -95.5% | 0.07% | −0.97 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.97 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.85 |
| AON Aon PLC Class A | Reduce -85.3% | 0.20% | −0.74 |
| EQT Eqt Corp. | Reduce -96.8% | 0.03% | −0.73 |
| EPD Enterprise Products Partners | Reduce -82.8% | 0.22% | −0.67 |
| VEEV Veeva Systems Inc. Class A | Reduce -96.6% | 0.03% | −0.64 |
| RKLB Rocket Lab Corp. | Sold out | 0.00% | −0.56 |
| ADP Automatic Data Processing | Reduce -91.0% | 0.08% | −0.56 |
| CTAS Cintas Corp. | Sold out | 0.00% | −0.55 |
| CRH CRH PLC | Sold out | 0.00% | −0.50 |
| NOC Northrop Grumman Corp. | Sold out | 0.00% | −0.50 |
| GILD Gilead Sciences Inc. | Reduce -73.4% | 0.31% | −0.50 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.48 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.48 |
| SPOT Spotify Technology SA | Reduce -68.7% | 0.34% | −0.48 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.47 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.45 |
| RY Royal Bank of Canada | Reduce -69.3% | 0.43% | −0.44 |
| ZM Zoom Communications Inc. | Sold out | 0.00% | −0.42 |
| TROW T Rowe Price Group Inc. | Sold out | 0.00% | −0.37 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.35 |
| WELL Welltower Inc. | Sold out | 0.00% | −0.34 |
| TXRH Texas Roadhouse Inc. | Sold out | 0.00% | −0.32 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −0.31 |
| FIVE Five Below | Reduce -81.6% | 0.14% | −0.31 |
| DOW Dow Inc. | Reduce -61.4% | 0.28% | −0.30 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −0.29 |
| TWLO Twilio Inc. Class A | Reduce -57.9% | 0.28% | −0.29 |
| CHD Church & Dwight Co. Inc. | Sold out | 0.00% | −0.28 |
| NTR Nutrien Ltd. | Reduce -84.5% | 0.08% | −0.27 |
| IR Ingersoll-Rand Inc. | Reduce -53.6% | 0.55% | −0.27 |
| MCD McDonald's Corp. | Reduce -91.4% | 0.04% | −0.27 |
| EW Edwards Lifesciences Corp. | Reduce -73.0% | 0.17% | −0.27 |
| BG Bunge Global SA | Reduce -75.0% | 0.15% | −0.27 |
| EXE Expand Energy Corp. | Reduce -64.9% | 0.23% | −0.26 |
| MBLY Mobileye Global Inc. Class A | Sold out | 0.00% | −0.25 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.24 |
| MAR Marriott International Class A | Sold out | 0.00% | −0.24 |
| HWM Howmet Aerospace Inc. | Sold out | 0.00% | −0.23 |
| LKQ LKQ Corp. | Sold out | 0.00% | −0.23 |
| G Genpact Ltd. | Reduce -93.4% | 0.02% | −0.22 |
| BNTX Biontech SE-ADR | Reduce -68.5% | 0.16% | −0.22 |
| VRSK Verisk Analytics Inc. | Reduce -93.1% | 0.02% | −0.19 |
| CTRA Coterra Energy Inc. | Reduce -91.7% | 0.02% | −0.19 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.19 |
| ALSN Allison Transmission Holding | Reduce -87.2% | 0.04% | −0.19 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.19 |
Portfolio Buys Q2 2025 → Q3 2025
| CRM Salesforce Inc. | New | 1.74% | +1.74 |
| WM Waste Management Inc. | New | 1.13% | +1.13 |
| CM Can Imperial BK of Commerce | Add +53.5% | 1.80% | +1.08 |
| CB Chubb Ltd. | Add +860.1% | 0.77% | +0.72 |
| HON Honeywell International Inc. | Add +0.5% | 2.00% | +0.48 |
| RSG Republic Services Inc. | Add +66.1% | 0.82% | +0.45 |
| YMM Full Truck Alliance -SPN ADR | Add +73.7% | 0.52% | +0.33 |
| EFX Equifax Inc. | New | 0.26% | +0.26 |
| AJG Arthur J Gallagher & Co. | Add +513.6% | 0.28% | +0.25 |
| UBER Uber Technologies Inc. | Add +39.1% | 0.46% | +0.24 |
| DKS Dick's Sporting Goods Inc. | New | 0.24% | +0.24 |
| ATI Ati Inc. | New | 0.23% | +0.23 |
| RTX RTX Corp. | New | 0.22% | +0.22 |
| AL Sumisho Air Lease Corp. | Add +213.5% | 0.28% | +0.22 |
| GIB Cgi Inc. | New | 0.22% | +0.22 |
| NDAQ Nasdaq Inc. | New | 0.20% | +0.20 |
| BSY Bentley Systems Inc. Class B | Add +9.5% | 0.55% | +0.19 |
| WDAY Workday Inc. Class A | New | 0.18% | +0.18 |
| BOX Box Inc. Class A | Add +2134.0% | 0.19% | +0.18 |
| OLED Universal Display Corp. | New | 0.17% | +0.17 |
| TYL Tyler Technologies Inc. | New | 0.17% | +0.17 |
| V Visa Inc. Class A | New | 0.17% | +0.17 |
| IMO Imperial Oil Ltd. | Add +122.3% | 0.24% | +0.17 |
| B Barrick Mining Corp. | New | 0.17% | +0.17 |
| SAIA Saia Inc. | New | 0.17% | +0.17 |
| ARR Armour Residential REIT Inc. | New | 0.17% | +0.17 |
| HAYW Hayward Holdings Inc. | New | 0.16% | +0.16 |
| SNX TD Synnex Corp. | Add +305.5% | 0.18% | +0.15 |
| TIGR Up Fintech Holding Ltd. - ADR | New | 0.15% | +0.15 |
| SMR Nuscale Power Corp. | New | 0.15% | +0.15 |
| HBM Hudbay Minerals Inc. | Add +16.2% | 0.25% | +0.15 |
| AER Aercap Holdings NV | Add +384.6% | 0.17% | +0.15 |
| AGI Alamos Gold Inc. Class A | New | 0.14% | +0.14 |
| TRV The Travelers Cos Inc. | Add +163.9% | 0.17% | +0.13 |
| OZK Bank Ozk | Add +77.5% | 0.20% | +0.13 |
| JHG Janus Henderson Group PLC | New | 0.12% | +0.12 |
| FCNCA First Citizens Bcshs Class A | Add +404.1% | 0.15% | +0.12 |
| SSNC Ss&c Technologies Holdings | New | 0.12% | +0.12 |
| QTWO Q2 Holdings Inc. | New | 0.12% | +0.12 |
| HWC Hancock Whitney Corp. | New | 0.11% | +0.11 |
| AWI Armstrong World Industries | New | 0.11% | +0.11 |
| AMP Ameriprise Financial Inc. | New | 0.10% | +0.10 |
| DCI Donaldson Co. Inc. | New | 0.09% | +0.09 |
| KGC Kinross Gold Corp. | New | 0.09% | +0.09 |
| ULS Ul Solutions Inc. Class A | New | 0.09% | +0.09 |
| WAL Western Alliance Bancorp | New | 0.08% | +0.08 |
| WTFC Wintrust Financial Corp. | Add +379.0% | 0.09% | +0.08 |
| DBX Dropbox Inc. Class A | Add +6.1% | 0.21% | +0.08 |
| VBTX Veritex Holdings Inc. | New | 0.08% | +0.08 |
| DY Dycom Industries Inc. | New | 0.07% | +0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 735 | $5.3B | GE, V, UBER, ADP, WM |
| Q1 2026 | 466 | $2.7B | MSFT, ADBE, V, NOW, ADP |
| Q4 2025 | 548 | $2.9B | CRM, GD, ADP, C, CTAS |
| Q3 2025 | 549 | $2.6B | NEM, GD, HON, CM, C |
| Q2 2025 | 707 | $3.7B | HON, NEM, FIX, GD, CI |
| Q1 2025 | 1,053 | $6.0B | KO, HON, JPM, CI, CVS |
| Q4 2024 | 1,062 | $6.0B | JPM, TSLA, PM, PYPL, WMT |
| Q2 2024 | 918 | $4.3B | JPM, WMT, ADBE, CRWD, PM |
| Q1 2024 | 664 | $2.1B | CVS, BA, PFE, PM, JPM |