Van Den Berg Management I, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Van Den Berg Management I, Inc. reported 102 stock positions worth $326.6 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 6.4% of the portfolio, followed by Exxon Mobil (XOM, 5.9%) and Berkshire Hathaway Class B (BRK.B, 4.8%). Compared with Q4 2024, it opened 4 new positions, sold out of 11, added to 35 and reduced 51. The biggest buy was Stanley Black & Decker (SWK, shares +107%) and the biggest sale an exit from Carter's (CRI).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001142062
- Portfolio Value
- $326.6M (Q1 2025)
- SEC Filing
- 0001398344-25-009471 ↗ filed May 15, 2025
Holdings Value
Holdings 102 stocks · $326.6M
| PHYS Sprott Physical Gold Trust | 6.43% | 872,529 | $21.0M | Reduce -1.5% |
| XOM Exxon Mobil Corp. | 5.92% | 162,563 | $19.3M | Reduce -2.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.76% | 29,201 | $15.6M | Reduce -33.9% |
| FANG Diamondback Energy Inc. | 4.01% | 81,822 | $13.1M | Reduce -3.1% |
| EQT Eqt Corp. | 3.84% | 234,968 | $12.6M | Reduce -2.2% |
| BN Brookfield Corp. | 3.35% | 208,893 | $10.9M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.23% | 42,374 | $10.5M | Reduce -1.0% |
| GOOG Alphabet Inc. Class C | 3.22% | 67,390 | $10.5M | Reduce -7.6% |
| COHR Coherent Corp. | 3.01% | 151,577 | $9.8M | Reduce -2.4% |
| LUMN Lumen Technologies Inc. | 2.92% | 2,434,596 | $9.5M | Add +0.1% |
| SA Seabridge Gold Inc. | 2.70% | 755,817 | $8.8M | Add +21.0% |
| QCOM Qualcomm Inc. | 2.67% | 56,776 | $8.7M | Reduce -0.3% |
| CRK Comstock Resources Inc. | 2.52% | 405,151 | $8.2M | Reduce -1.1% |
| SW Smurfit Westrock PLC | 2.44% | 176,690 | $8.0M | Reduce -2.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 2.43% | 189,526 | $7.9M | Reduce -0.2% |
| VNT Vontier Corp. | 2.40% | 238,637 | $7.8M | Reduce -0.0% |
| ELV Elevance Health Inc. | 2.29% | 17,209 | $7.5M | Add +3.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.10% | 69,359 | $6.8M | Reduce -0.3% |
| DELL Dell Technologies -C | 2.01% | 72,068 | $6.6M | Add +107.1% |
| PR Permian Resources Corp. Class A | 1.96% | 462,528 | $6.4M | Add +2.5% |
| INTC Intel Corp. | 1.76% | 252,810 | $5.7M | Add +5.3% |
| SWK Stanley Black & Decker Inc. | 1.74% | 74,033 | $5.7M | Add +106.9% |
| CME Cme Group Inc. | 1.68% | 20,702 | $5.5M | Reduce -2.3% |
| KW Kennedy-Wilson Holdings Inc. | 1.67% | 629,361 | $5.5M | Add +23.9% |
| EG Everest Group Ltd. | 1.63% | 14,610 | $5.3M | Add +8.5% |
| UNH Unitedhealth Group Inc. | 1.61% | 10,050 | $5.3M | Add +5.5% |
| MSFT Microsoft Corp. | 1.61% | 14,002 | $5.3M | Add +4.5% |
| CI The Cigna Group | 1.49% | 14,798 | $4.9M | Add +12.7% |
| ACGL Arch Capital Group Ltd. | 1.40% | 47,554 | $4.6M | Add +7.2% |
| COP Conocophillips | 1.40% | 43,488 | $4.6M | Add +3.8% |
| TMO Thermo Fisher Scientific Inc. | 1.30% | 8,563 | $4.3M | Reduce -0.3% |
| CMCO Columbus McKinnon Corp. | 1.27% | 244,877 | $4.1M | Add +7.3% |
| DHR Danaher Corp. | 1.22% | 19,494 | $4.0M | Add +14.6% |
| WDAY Workday Inc. Class A | 1.22% | 17,080 | $4.0M | Reduce -1.2% |
| VRSN Verisign Inc. | 1.20% | 15,426 | $3.9M | Reduce -18.7% |
| META Meta Platforms Inc. Class A | 1.20% | 6,780 | $3.9M | Reduce -22.2% |
| ILMN Illumina Inc. | 1.08% | 44,372 | $3.5M | Add +81.7% |
| MCO Moody's Corp. | 0.88% | 6,205 | $2.9M | Reduce -0.9% |
| ST Sensata Technologies Holdplc | 0.80% | 107,123 | $2.6M | Add +36.5% |
| ATKR Atkore Inc. | 0.78% | 42,727 | $2.6M | Add +4.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.77% | 59,958 | $2.5M | Reduce -15.5% |
| CTRA Coterra Energy Inc. | 0.46% | 51,691 | $1.5M | Reduce -0.3% |
| BAM Brookfield Asset Mgmt-A | 0.43% | 29,257 | $1.4M | Reduce -73.4% |
| CRGY Crescent Energy Inc. Class A | 0.42% | 123,043 | $1.4M | Add +1.6% |
| DVN Devon Energy Corp. | 0.38% | 33,037 | $1.2M | Reduce -1.1% |
| NOG Northern Oil and Gas Inc. | 0.36% | 38,596 | $1.2M | Add +4.6% |
| TXN Texas Instruments Inc. | 0.30% | 5,533 | $994K | Reduce -12.1% |
| MA Mastercard Inc. Class A | 0.29% | 1,724 | $945K | Reduce -6.2% |
| VTOL Bristow Group Inc. | 0.29% | 29,589 | $934K | Add +1.3% |
| VIG Vanguard Dividend Apprec ETF | 0.27% | 4,525 | $878K | Reduce -4.9% |
| RSP Invesco S&P 500 Equal Weight | 0.27% | 5,025 | $870K | Reduce -2.4% |
| OVV Ovintiv Inc. | 0.26% | 19,924 | $853K | Reduce -1.1% |
| AZZ Azz Inc. | 0.26% | 10,000 | $836K | Reduce -24.4% |
| GNRC Generac Holdings Inc. | 0.23% | 5,883 | $745K | Add +270.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.22% | 2,628 | $722K | Reduce -6.8% |
| XLE SS Energy Select Sector | 0.22% | 7,590 | $709K | Reduce -11.1% |
| MOAT Vaneck Morningstar Wide Moat | 0.21% | 7,697 | $677K | Reduce -2.9% |
| VEA Vanguard Ftse Developed ETF | 0.20% | 12,725 | $647K | Add +1.1% |
| VTLE Vital Energy Inc. | 0.20% | 30,046 | $638K | Add +2.6% |
| CVX Chevron Corp. | 0.19% | 3,616 | $605K | Reduce -10.0% |
| GDXJ Vaneck Junior Gold Miners | 0.18% | 10,357 | $592K | Reduce -0.3% |
| SEI Solaris Energy Infrastructur | 0.18% | 26,712 | $581K | Reduce -1.8% |
| TRS Trimas Corp. | 0.17% | 23,209 | $544K | Reduce -0.3% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.16% | 14,880 | $538K | Reduce -0.9% |
| VOO Vanguard S&P 500 ETF | 0.16% | 1,040 | $534K | Add +0.5% |
| ERO Ero Copper Corp. | 0.16% | 43,508 | $527K | Reduce -0.5% |
| AEM Agnico Eagle Mines Ltd. | 0.16% | 4,847 | $525K | No change |
| XOP SS SPDR S&P Og Exp & Prod | 0.16% | 3,977 | $524K | Reduce -3.2% |
| PSLV Sprott Physical Silver Trust | 0.14% | 38,069 | $442K | Reduce -21.6% |
| VYM Vanguard High DVD Yield ETF | 0.13% | 3,371 | $435K | Reduce -1.3% |
| BTE Baytex Energy Corp. | 0.13% | 183,278 | $409K | Add +7.0% |
| SU Suncor Energy Inc. | 0.11% | 9,264 | $359K | Reduce -1.0% |
| T AT&T Inc. | 0.10% | 11,945 | $338K | No change |
| SPSM SS SPDR P S&P 600 Small Cap | 0.10% | 7,944 | $324K | Reduce -2.5% |
| AR Antero Resources Corp. | 0.10% | 7,895 | $319K | Reduce -2.9% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.10% | 4,222 | $311K | No change |
| TALO Talos Energy Inc. | 0.08% | 27,246 | $265K | Reduce -1.9% |
| RRC Range Resources Corp. | 0.08% | 6,490 | $259K | Reduce -0.1% |
| HL Hecla Mining Co. | 0.03% | 17,000 | $95K | No change |
| VRN Veren Inc. | 0.03% | 14,035 | $93K | Add +1.5% |
| RIG Transocean Ltd. | 0.03% | 25,750 | $82K | Reduce -8.5% |
| GDX Vaneck Gold Miners ETF | 0.02% | 1,670 | $77K | No change |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 0.02% | 2,445 | $75K | Add +3.2% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.02% | 370 | $69K | Add +0.3% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.02% | 234 | $60K | No change |
| SCHD Schwab US DVD Equity ETF | 0.02% | 1,923 | $54K | Add +5.3% |
| REI Ring Energy Inc. | 0.01% | 23,361 | $27K | Reduce -1.0% |
| VNQ Vanguard Real Estate ETF | 0.01% | 222 | $20K | Add +0.9% |
| NLR Vaneck Urani & Nuclr ETF-Usd | 0.00% | 216 | $16K | New |
| EU Encore Energy Corp. | 0.00% | 10,000 | $14K | No change |
| XLF SS Financial Select Sector | 0.00% | 268 | $13K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.00% | 76 | $13K | Add +40.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.00% | 26 | $10K | Reduce -10.3% |
| DJD Invesco Dow Jones Industrial | 0.00% | 150 | $8K | No change |
| MORT Vaneck Mortgage REIT Income | 0.00% | 585 | $7K | No change |
| XES SS SPDR S&P Og Eqp & Serv | 0.00% | 71 | $5K | Add +91.9% |
| GOOGL Alphabet Inc. Class A | 0.00% | 21 | $3K | Add +5.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.00% | 13 | $3K | No change |
| PFXF Vaneck Pref Sec X-Financials | 0.00% | 50 | $838 | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.00% | 2 | $517 | New |
Portfolio Sells Q4 2024 → Q1 2025
| CRI Carter's Inc. | Sold out | 0.00% | −2.13 |
| BAM Brookfield Asset Mgmt-A | Reduce -73.4% | 0.43% | −1.28 |
| COHR Coherent Corp. | Reduce -2.4% | 3.01% | −1.22 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -33.9% | 4.76% | −1.00 |
| GOOG Alphabet Inc. Class C | Reduce -7.6% | 3.22% | −0.78 |
| SW Smurfit Westrock PLC | Reduce -2.2% | 2.44% | −0.37 |
| META Meta Platforms Inc. Class A | Reduce -22.2% | 1.20% | −0.27 |
| DIS The Walt Disney Co. | Reduce -0.3% | 2.10% | −0.14 |
| BAC Bank of America Corp. | Reduce -15.5% | 0.77% | −0.13 |
| BN Brookfield Corp. | Reduce -0.5% | 3.35% | −0.12 |
| VNT Vontier Corp. | Reduce -0.0% | 2.40% | −0.11 |
| ALKT Alkami Technology Inc. | Sold out | 0.00% | −0.06 |
| WDAY Workday Inc. Class A | Reduce -1.2% | 1.22% | −0.06 |
| AAPL Apple Inc. | Sold out | 0.00% | −0.06 |
| AZZ Azz Inc. | Reduce -24.4% | 0.26% | −0.06 |
| URA Global X Uranium ETF | Sold out | 0.00% | −0.06 |
| SEI Solaris Energy Infrastructur | Reduce -1.8% | 0.18% | −0.05 |
| TXN Texas Instruments Inc. | Reduce -12.1% | 0.30% | −0.04 |
| KGEI Kolibri Global Energy Inc. | Sold out | 0.00% | −0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -6.8% | 0.22% | −0.01 |
| ERO Ero Copper Corp. | Reduce -0.5% | 0.16% | −0.01 |
| PXE Invesco Energy Exploration | Sold out | 0.00% | −0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -2.5% | 0.10% | −0.01 |
| RIG Transocean Ltd. | Reduce -8.5% | 0.03% | −0.01 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -2.9% | 0.21% | −0.00 |
| QYLD Global X Nasd 100 Cov Call | Sold out | 0.00% | −0.00 |
| PFFD Global X US Preferred ETF | Sold out | 0.00% | −0.00 |
| EFAS Global X MSCI Superdividend | Sold out | 0.00% | −0.00 |
| REI Ring Energy Inc. | Reduce -1.0% | 0.01% | −0.00 |
| DTCR Global X Data Center & Digit | Sold out | 0.00% | −0.00 |
| SIL Global X Silver Miners ETF | Sold out | 0.00% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -10.3% | 0.00% | −0.00 |
| PSLV Sprott Physical Silver Trust | Reduce -21.6% | 0.14% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -4.9% | 0.27% | +0.00 |
| TRS Trimas Corp. | Reduce -0.3% | 0.17% | +0.00 |
| TALO Talos Energy Inc. | Reduce -1.9% | 0.08% | +0.00 |
| XOP SS SPDR S&P Og Exp & Prod | Reduce -3.2% | 0.16% | +0.00 |
| XLE SS Energy Select Sector | Reduce -11.1% | 0.22% | +0.01 |
| RSP Invesco S&P 500 Equal Weight | Reduce -2.4% | 0.27% | +0.01 |
| VYM Vanguard High DVD Yield ETF | Reduce -1.3% | 0.13% | +0.01 |
| MA Mastercard Inc. Class A | Reduce -6.2% | 0.29% | +0.01 |
| RRC Range Resources Corp. | Reduce -0.1% | 0.08% | +0.01 |
| SU Suncor Energy Inc. | Reduce -1.0% | 0.11% | +0.01 |
| AR Antero Resources Corp. | Reduce -2.9% | 0.10% | +0.02 |
| FANG Diamondback Energy Inc. | Reduce -3.1% | 4.01% | +0.02 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.3% | 1.30% | +0.02 |
| CVX Chevron Corp. | Reduce -10.0% | 0.19% | +0.02 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -0.9% | 0.16% | +0.02 |
| OVV Ovintiv Inc. | Reduce -1.1% | 0.26% | +0.03 |
| MCO Moody's Corp. | Reduce -0.9% | 0.88% | +0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| SWK Stanley Black & Decker Inc. | Add +106.9% | 1.74% | +0.92 |
| DELL Dell Technologies -C | Add +107.1% | 2.01% | +0.86 |
| SA Seabridge Gold Inc. | Add +21.0% | 2.70% | +0.65 |
| ELV Elevance Health Inc. | Add +3.7% | 2.29% | +0.53 |
| CI The Cigna Group | Add +12.7% | 1.49% | +0.45 |
| INTC Intel Corp. | Add +5.3% | 1.76% | +0.37 |
| UNH Unitedhealth Group Inc. | Add +5.5% | 1.61% | +0.22 |
| ACGL Arch Capital Group Ltd. | Add +7.2% | 1.40% | +0.22 |
| EG Everest Group Ltd. | Add +8.5% | 1.63% | +0.22 |
| KW Kennedy-Wilson Holdings Inc. | Add +23.9% | 1.67% | +0.21 |
| COP Conocophillips | Add +3.8% | 1.40% | +0.20 |
| ST Sensata Technologies Holdplc | Add +36.5% | 0.80% | +0.18 |
| GNRC Generac Holdings Inc. | Add +270.0% | 0.23% | +0.16 |
| ILMN Illumina Inc. | Add +81.7% | 1.08% | +0.14 |
| DHR Danaher Corp. | Add +14.6% | 1.22% | +0.10 |
| PR Permian Resources Corp. Class A | Add +2.5% | 1.96% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +1.1% | 0.20% | +0.02 |
| VRN Veren Inc. | Add +1.5% | 0.03% | +0.01 |
| NLR Vaneck Urani & Nuclr ETF-Usd | New | 0.00% | +0.00 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Add +3.2% | 0.02% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +0.5% | 0.16% | +0.00 |
| SCHD Schwab US DVD Equity ETF | Add +5.3% | 0.02% | +0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +40.7% | 0.00% | +0.00 |
| XES SS SPDR S&P Og Eqp & Serv | Add +91.9% | 0.00% | +0.00 |
| VNQ Vanguard Real Estate ETF | Add +0.9% | 0.01% | +0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.00% | +0.00 |
| SCHX Schwab US Large-Cap ETF | New | 0.00% | +0.00 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | New | 0.00% | 0.00 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +0.3% | 0.02% | 0.00 |
| GOOGL Alphabet Inc. Class A | Add +5.0% | 0.00% | −0.00 |
| BTE Baytex Energy Corp. | Add +7.0% | 0.13% | −0.00 |
| VTOL Bristow Group Inc. | Add +1.3% | 0.29% | −0.00 |
| MSFT Microsoft Corp. | Add +4.5% | 1.61% | −0.02 |
| NOG Northern Oil and Gas Inc. | Add +4.6% | 0.36% | −0.04 |
| VTLE Vital Energy Inc. | Add +2.6% | 0.20% | −0.07 |
| CRGY Crescent Energy Inc. Class A | Add +1.6% | 0.42% | −0.09 |
| ATKR Atkore Inc. | Add +4.1% | 0.78% | −0.20 |
| LUMN Lumen Technologies Inc. | Add +0.1% | 2.92% | −0.80 |
| CMCO Columbus McKinnon Corp. | Add +7.3% | 1.27% | −1.18 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 120 | $473.3M | DELL, PHYS, INTC, LUMN, XOM |
| Q1 2026 | 133 | $436.2M | PHYS, XOM, SA, LUMN, FANG |
| Q4 2025 | 126 | $436.5M | PHYS, COHR, SA, LUMN, GOOG |
| Q3 2025 | 106 | $399.2M | PHYS, SA, XOM, GOOG, COHR |
| Q2 2025 | 110 | $351.8M | PHYS, XOM, COHR, BRK.B, EQT |
| Q1 2025 | 102 | $326.6M | PHYS, XOM, BRK.B, FANG, EQT |
| Q4 2024 | 109 | $347.0M | BRK.B, XOM, PHYS, COHR, GOOG |
| Q3 2024 | 107 | $345.7M | BRK.B, XOM, PHYS, LUMN, FANG |
| Q2 2024 | 108 | $337.0M | BRK.B, XOM, FANG, PHYS, GOOG |
| Q1 2024 | 111 | $341.0M | BRK.B, PXD, FANG, PHYS, GOOG |