Van Den Berg Management I, Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Van Den Berg Management I, Inc. reported 133 stock positions worth $436.2 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 6.8% of the portfolio, followed by Exxon Mobil (XOM, 5.2%) and Seabridge Gold (SA, 4.3%). Compared with Q4 2025, it opened 14 new positions, sold out of 7, added to 31 and reduced 69. The biggest buy was a new position in Trex (TREX) and the biggest sale an exit from Kennedy-Wilson (KW).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001142062
- Portfolio Value
- $436.2M (Q1 2026)
- SEC Filing
- 0001398344-26-009228 ↗ filed May 15, 2026
Holdings Value
Holdings 133 stocks · $436.2M
| PHYS Sprott Physical Gold Trust | 6.78% | 834,961 | $29.6M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 5.25% | 134,915 | $22.9M | Reduce -4.3% |
| SA Seabridge Gold Inc. | 4.28% | 658,050 | $18.6M | Reduce -7.0% |
| LUMN Lumen Technologies Inc. | 3.87% | 2,427,862 | $16.9M | Add +1.4% |
| FANG Diamondback Energy Inc. | 3.76% | 82,958 | $16.4M | Reduce -2.0% |
| COHR Coherent Corp. | 3.52% | 64,539 | $15.4M | Reduce -46.1% |
| EQT Eqt Corp. | 3.30% | 226,057 | $14.4M | Reduce -1.7% |
| GOOG Alphabet Inc. Class C | 3.05% | 46,423 | $13.3M | Reduce -19.6% |
| DELL Dell Technologies -C | 2.95% | 78,282 | $12.8M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.58% | 23,478 | $11.3M | Reduce -13.4% |
| INTC Intel Corp. | 2.53% | 249,846 | $11.0M | Reduce -3.2% |
| PR Permian Resources Corp. Class A | 2.53% | 516,902 | $11.0M | Reduce -0.5% |
| MSFT Microsoft Corp. | 2.33% | 27,496 | $10.2M | Add +58.8% |
| BN Brookfield Corp. | 2.20% | 236,693 | $9.6M | Reduce -20.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.05% | 36,942 | $9.0M | Add +0.2% |
| SLB SLB Ltd. filed as SLB LIMITED | 2.04% | 172,854 | $8.9M | Reduce -3.5% |
| CRK Comstock Resources Inc. | 1.91% | 396,089 | $8.3M | Reduce -1.2% |
| CI The Cigna Group | 1.90% | 31,112 | $8.3M | Add +1.5% |
| ELV Elevance Health Inc. | 1.89% | 28,114 | $8.2M | Add +4.1% |
| QCOM Qualcomm Inc. | 1.83% | 62,118 | $8.0M | Add +7.7% |
| VNT Vontier Corp. | 1.81% | 222,194 | $7.9M | Reduce -4.7% |
| UNH Unitedhealth Group Inc. | 1.79% | 28,888 | $7.8M | Add +10.6% |
| ACGL Arch Capital Group Ltd. | 1.78% | 81,086 | $7.8M | Add +0.8% |
| TMO Thermo Fisher Scientific Inc. | 1.59% | 14,146 | $7.0M | Add +1.8% |
| CMCO Columbus McKinnon Corp. | 1.59% | 478,328 | $7.0M | Add +26.2% |
| DHR Danaher Corp. | 1.57% | 36,228 | $6.9M | Add +1.2% |
| SWK Stanley Black & Decker Inc. | 1.50% | 92,203 | $6.6M | Add +2.9% |
| SW Smurfit Westrock PLC | 1.47% | 160,915 | $6.4M | Add +3.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.47% | 66,356 | $6.4M | Reduce -0.2% |
| TKR Timken Co. | 1.37% | 59,290 | $6.0M | Reduce -0.7% |
| ILMN Illumina Inc. | 1.27% | 44,778 | $5.5M | Reduce -3.8% |
| COP Conocophillips | 1.26% | 41,762 | $5.5M | Reduce -1.1% |
| CME Cme Group Inc. | 1.25% | 18,498 | $5.5M | Reduce -1.7% |
| MKTX Marketaxess Holdings Inc. | 1.19% | 31,423 | $5.2M | Add +3.4% |
| WDAY Workday Inc. Class A | 1.13% | 37,898 | $4.9M | Add +119.9% |
| ST Sensata Technologies Holdplc | 1.04% | 128,294 | $4.5M | Add +0.3% |
| GNRC Generac Holdings Inc. | 1.02% | 22,794 | $4.5M | Reduce -1.1% |
| VTOL Bristow Group Inc. | 1.00% | 92,927 | $4.4M | Add +49.1% |
| FDX FedEx Corp. | 0.99% | 12,110 | $4.3M | Reduce -1.4% |
| VRSN Verisign Inc. | 0.82% | 14,348 | $3.6M | Reduce -0.9% |
| FTV Fortive Corp. | 0.80% | 63,238 | $3.5M | Add +22.9% |
| META Meta Platforms Inc. Class A | 0.79% | 6,056 | $3.5M | Reduce -0.7% |
| TREX Trex Company Inc. filed as TREX INC | 0.71% | 84,871 | $3.1M | New |
| CRGY Crescent Energy Inc. Class A | 0.70% | 227,213 | $3.1M | Add +4.2% |
| INTU Intuit Inc. | 0.68% | 6,869 | $3.0M | New |
| MCO Moody's Corp. | 0.59% | 5,850 | $2.6M | Reduce -1.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.58% | 51,725 | $2.5M | Reduce -12.3% |
| UPS United Parcel Service Class B | 0.57% | 25,193 | $2.5M | Reduce -0.1% |
| BAM Brookfield Asset Mgmt-A | 0.43% | 42,080 | $1.9M | Add +49.6% |
| CTRA Coterra Energy Inc. | 0.40% | 49,090 | $1.7M | Reduce -1.9% |
| DVN Devon Energy Corp. | 0.33% | 28,973 | $1.5M | Reduce -1.0% |
| GDXJ Vaneck Junior Gold Miners | 0.28% | 10,353 | $1.2M | No change |
| NOG Northern Oil and Gas Inc. | 0.28% | 42,343 | $1.2M | Add +10.5% |
| OVV Ovintiv Inc. | 0.26% | 19,300 | $1.1M | Reduce -2.2% |
| LBRT Liberty Energy Inc. | 0.25% | 38,141 | $1.1M | No change |
| CVX Chevron Corp. | 0.24% | 5,115 | $1.1M | Add +13.8% |
| AEM Agnico Eagle Mines Ltd. | 0.22% | 4,762 | $967K | Reduce -0.7% |
| PSLV Sprott Physical Silver Trust | 0.21% | 38,019 | $927K | Add +0.5% |
| RSP Invesco S&P 500 Equal Weight | 0.21% | 4,732 | $908K | Reduce -1.9% |
| ERO Ero Copper Corp. | 0.21% | 33,593 | $896K | No change |
| VIG Vanguard Dividend Apprec ETF | 0.20% | 4,062 | $874K | Add +4.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.19% | 2,639 | $847K | Add +2.2% |
| SEI Solaris Energy Infrastructur | 0.19% | 14,868 | $840K | Reduce -3.9% |
| XLE SS Energy Select Sector | 0.19% | 13,480 | $826K | Reduce -2.7% |
| MA Mastercard Inc. Class A | 0.18% | 1,588 | $793K | Reduce -0.3% |
| BTE Baytex Energy Corp. | 0.17% | 166,027 | $742K | Reduce -8.1% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.16% | 14,694 | $719K | Reduce -2.3% |
| VEA Vanguard Ftse Developed ETF | 0.16% | 10,646 | $682K | Reduce -2.3% |
| VOO Vanguard S&P 500 ETF | 0.15% | 1,127 | $673K | Add +18.3% |
| MOAT Vaneck Morningstar Wide Moat | 0.15% | 6,629 | $641K | Reduce -4.0% |
| SU Suncor Energy Inc. | 0.14% | 9,116 | $603K | Reduce -0.6% |
| VYM Vanguard High DVD Yield ETF | 0.12% | 3,647 | $540K | Add +27.6% |
| XOP SS SPDR S&P Og Exp & Prod | 0.12% | 2,918 | $531K | Reduce -16.4% |
| TXN Texas Instruments Inc. | 0.10% | 2,158 | $419K | Reduce -57.9% |
| AMZN Amazon.com Inc. | 0.09% | 1,807 | $376K | Add +18.6% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.09% | 3,960 | $373K | Reduce -2.8% |
| EG Everest Group Ltd. | 0.08% | 1,082 | $354K | Reduce -12.7% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.08% | 7,242 | $350K | Reduce -0.7% |
| AR Antero Resources Corp. | 0.08% | 7,970 | $338K | No change |
| T AT&T Inc. | 0.08% | 11,454 | $332K | Reduce -0.4% |
| HL Hecla Mining Co. | 0.07% | 17,000 | $317K | No change |
| URA Global X Uranium ETF | 0.07% | 6,114 | $296K | Add +0.0% |
| AZZ Azz Inc. | 0.07% | 2,351 | $294K | Reduce -56.6% |
| RRC Range Resources Corp. | 0.07% | 6,387 | $289K | Reduce -0.7% |
| CEF Sprott Physical Gold and Sil | 0.07% | 5,986 | $286K | Reduce -2.3% |
| TALO Talos Energy Inc. | 0.06% | 17,895 | $282K | Reduce -32.2% |
| NVDA Nvidia Corp. | 0.06% | 1,560 | $272K | New |
| DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND | 0.06% | 569 | $264K | Reduce -51.0% |
| AAPL Apple Inc. | 0.05% | 904 | $229K | New |
| CW Curtiss-Wright Corp. | 0.05% | 327 | $223K | New |
| GE General Electric filed as GE AEROSPACE | 0.05% | 784 | $222K | New |
| SM SM Energy Co. | 0.05% | 7,003 | $218K | New |
| RIG Transocean Ltd. | 0.04% | 27,743 | $184K | No change |
| GDX Vaneck Gold Miners ETF | 0.03% | 1,590 | $146K | No change |
| VHT Vanguard Health Care ETF | 0.03% | 489 | $133K | New |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 0.02% | 2,649 | $101K | Reduce -37.8% |
| REI Ring Energy Inc. | 0.02% | 53,191 | $81K | Reduce -8.1% |
| IVV iShares Core S&P 500 ETF | 0.02% | 116 | $76K | Reduce -88.5% |
| GOOGL Alphabet Inc. Class A | 0.01% | 214 | $61K | Add +319.6% |
| IWF iShares Russell 1000 Growth | 0.01% | 141 | $60K | Reduce -79.3% |
Portfolio Sells Q4 2025 → Q1 2026
| KW Kennedy-Wilson Holdings Inc. | Sold out | 0.00% | −1.98 |
| COHR Coherent Corp. | Reduce -46.1% | 3.52% | −1.54 |
| GOOG Alphabet Inc. Class C | Reduce -19.6% | 3.05% | −1.10 |
| BN Brookfield Corp. | Reduce -20.4% | 2.20% | −0.93 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -13.4% | 2.58% | −0.54 |
| SA Seabridge Gold Inc. | Reduce -7.0% | 4.28% | −0.52 |
| DIS The Walt Disney Co. | Reduce -0.2% | 1.47% | −0.27 |
| CRK Comstock Resources Inc. | Reduce -1.2% | 1.91% | −0.21 |
| VNT Vontier Corp. | Reduce -4.7% | 1.81% | −0.18 |
| BAC Bank of America Corp. | Reduce -12.3% | 0.58% | −0.16 |
| IVV iShares Core S&P 500 ETF | Reduce -88.5% | 0.02% | −0.14 |
| ILMN Illumina Inc. | Reduce -3.8% | 1.27% | −0.13 |
| META Meta Platforms Inc. Class A | Reduce -0.7% | 0.79% | −0.13 |
| IWB iShares Russell 1000 ETF | Reduce -90.1% | 0.01% | −0.13 |
| MCO Moody's Corp. | Reduce -1.3% | 0.59% | −0.11 |
| TXN Texas Instruments Inc. | Reduce -57.9% | 0.10% | −0.11 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -51.0% | 0.06% | −0.07 |
| AZZ Azz Inc. | Reduce -56.6% | 0.07% | −0.07 |
| IWF iShares Russell 1000 Growth | Reduce -79.3% | 0.01% | −0.06 |
| IWD iShares Russell 1000 Value E | Reduce -80.3% | 0.01% | −0.05 |
| IJH iShares Core S&P Midcap ETF | Reduce -96.5% | 0.00% | −0.04 |
| IWR iShares Russell Mid-Cap ETF | Sold out | 0.00% | −0.04 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -98.3% | 0.00% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -0.3% | 0.18% | −0.03 |
| IWS iShares Russell Mid-Cap Valu | Reduce -59.7% | 0.01% | −0.02 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -4.0% | 0.15% | −0.02 |
| EG Everest Group Ltd. | Reduce -12.7% | 0.08% | −0.02 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Reduce -37.8% | 0.02% | −0.01 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -77.2% | 0.00% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -86.6% | 0.00% | −0.00 |
| UPS United Parcel Service Class B | Reduce -0.1% | 0.57% | −0.00 |
| RSP Invesco S&P 500 Equal Weight | Reduce -1.9% | 0.21% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -52.2% | 0.00% | −0.00 |
| TALO Talos Energy Inc. | Reduce -32.2% | 0.06% | −0.00 |
| VNQ Vanguard Real Estate ETF | Reduce -80.0% | 0.00% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -37.1% | 0.00% | −0.00 |
| EFAS Global X MSCI Superdividend | Sold out | 0.00% | −0.00 |
| IVW iShares S&P 500 Growth ETF | Reduce -10.0% | 0.00% | −0.00 |
| IJK iShares S&P Mid-Cap 400 Grow | Reduce -35.9% | 0.00% | −0.00 |
| IJJ iShares S&P Mid-Cap 400 Valu | Sold out | 0.00% | −0.00 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.00 |
| XES SS SPDR S&P Og Eqp & Serv | Reduce -45.2% | 0.00% | −0.00 |
| MORT Vaneck Mortgage REIT Income | Reduce -41.7% | 0.00% | −0.00 |
| IVE iShares S&P 500 Value ETF | Reduce -5.3% | 0.00% | −0.00 |
| EFA iShares MSCI Eafe ETF | Sold out | 0.00% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -2.3% | 0.16% | +0.00 |
| CEF Sprott Physical Gold and Sil | Reduce -2.3% | 0.07% | +0.00 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -2.8% | 0.09% | +0.00 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -0.7% | 0.08% | +0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| TREX Trex Company Inc. | New | 0.71% | +0.71 |
| DELL Dell Technologies -C | Add +0.5% | 2.95% | +0.70 |
| INTU Intuit Inc. | New | 0.68% | +0.68 |
| VTOL Bristow Group Inc. | Add +49.1% | 1.00% | +0.48 |
| MSFT Microsoft Corp. | Add +58.8% | 2.33% | +0.41 |
| CRGY Crescent Energy Inc. Class A | Add +4.2% | 0.70% | +0.28 |
| WDAY Workday Inc. Class A | Add +119.9% | 1.13% | +0.28 |
| FTV Fortive Corp. | Add +22.9% | 0.80% | +0.15 |
| CMCO Columbus McKinnon Corp. | Add +26.2% | 1.59% | +0.10 |
| NOG Northern Oil and Gas Inc. | Add +10.5% | 0.28% | +0.10 |
| BAM Brookfield Asset Mgmt-A | Add +49.6% | 0.43% | +0.09 |
| SW Smurfit Westrock PLC | Add +3.1% | 1.47% | +0.09 |
| CVX Chevron Corp. | Add +13.8% | 0.24% | +0.09 |
| NVDA Nvidia Corp. | New | 0.06% | +0.06 |
| ST Sensata Technologies Holdplc | Add +0.3% | 1.04% | +0.06 |
| AAPL Apple Inc. | New | 0.05% | +0.05 |
| CW Curtiss-Wright Corp. | New | 0.05% | +0.05 |
| GE General Electric | New | 0.05% | +0.05 |
| SM SM Energy Co. | New | 0.05% | +0.05 |
| VHT Vanguard Health Care ETF | New | 0.03% | +0.03 |
| VYM Vanguard High DVD Yield ETF | Add +27.6% | 0.12% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +18.3% | 0.15% | +0.02 |
| ACGL Arch Capital Group Ltd. | Add +0.8% | 1.78% | +0.02 |
| VGT Vanguard Info Tech ETF | New | 0.01% | +0.01 |
| GOOGL Alphabet Inc. Class A | Add +319.6% | 0.01% | +0.01 |
| URA Global X Uranium ETF | Add +0.0% | 0.07% | +0.01 |
| PSLV Sprott Physical Silver Trust | Add +0.5% | 0.21% | +0.01 |
| VPU Vanguard Utilities ETF | New | 0.01% | +0.01 |
| AMZN Amazon.com Inc. | Add +18.6% | 0.09% | +0.01 |
| VIGI Vanguard Int Div App Indx FD | New | 0.01% | +0.01 |
| COPX Global X Copper Miners ETF | New | 0.00% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +4.6% | 0.20% | +0.00 |
| NAK Northern Dynasty Minerals | New | 0.00% | +0.00 |
| SCHH Schwab US REIT ETF | New | 0.00% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +2.2% | 0.19% | −0.00 |
| SWK Stanley Black & Decker Inc. | Add +2.9% | 1.50% | −0.02 |
| CI The Cigna Group | Add +1.5% | 1.90% | −0.03 |
| MKTX Marketaxess Holdings Inc. | Add +3.4% | 1.19% | −0.07 |
| UNH Unitedhealth Group Inc. | Add +10.6% | 1.79% | −0.18 |
| TMO Thermo Fisher Scientific Inc. | Add +1.8% | 1.59% | −0.25 |
| ELV Elevance Health Inc. | Add +4.1% | 1.89% | −0.28 |
| DHR Danaher Corp. | Add +1.2% | 1.57% | −0.30 |
| LUMN Lumen Technologies Inc. | Add +1.4% | 3.87% | −0.39 |
| QCOM Qualcomm Inc. | Add +7.7% | 1.83% | −0.43 |
| IBM Intl Business Machines Corp. | Add +0.2% | 2.05% | −0.45 |
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 |