Wallace Capital Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Wallace Capital Management Inc. reported 72 stock positions worth $733.9 million. Its top holding was Graham Class B (GHC) at 20.9% of the portfolio, followed by White Mountains Insurance GP (WTM, 19.3%) and Berkshire Hathaway Class B (BRK.B, 16.6%). Compared with Q1 2025, it opened 3 new positions, sold out of 14, added to 7 and reduced 42. The biggest buy was Seaboard (SEB, shares +78%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001459754
- Portfolio Value
- $733.9M (Q2 2025)
- SEC Filing
- 0001420506-25-002156 ↗ filed Aug 14, 2025
Holdings Value
Holdings 72 stocks · $733.9M
| GHC Graham Holdings Co. Class B | 20.89% | 162,062 | $153.3M | Reduce -1.6% |
| WTM White Mountains Insurance GP | 19.34% | 79,036 | $141.9M | Reduce -1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 16.57% | 250,341 | $121.6M | Reduce -14.7% |
| TAP Molson Coors Beverage Co. Class B | 3.49% | 533,266 | $25.6M | Add +48.1% |
| L Loews Corp. | 3.35% | 267,902 | $24.6M | Add +0.2% |
| JNJ Johnson & Johnson | 3.32% | 159,613 | $24.4M | Add +16.5% |
| SNREY Sunrise Communicat Class A | 3.16% | 410,575 | $23.2M | Reduce -2.5% |
| RSG Republic Services Inc. | 3.08% | 91,732 | $22.6M | Reduce -1.7% |
| SEB Seaboard Corp. | 3.00% | 7,684 | $22.0M | Add +77.6% |
| UL Unilever PLC | 2.34% | 281,200 | $17.2M | Reduce -1.4% |
| MHK Mohawk Industries Inc. | 2.10% | 146,810 | $15.4M | Add +68.4% |
| CNX CNX Resources Corp. | 1.90% | 414,567 | $14.0M | Reduce -2.9% |
| POST Post Holdings Inc. filed as POST HLDGS INC | 1.87% | 125,641 | $13.7M | Reduce -2.5% |
| LBTYA Liberty Global Ltd. Class A | 1.86% | 1,360,433 | $13.6M | Reduce -2.3% |
| AMG Affiliated Managers Group | 1.80% | 67,085 | $13.2M | Reduce -0.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.39% | 14 | $10.2M | No change |
| LBRDK Liberty Broadband-C | 1.33% | 99,075 | $9.7M | Reduce -1.6% |
| JOUT Johnson Outdoors Inc. Class A | 1.12% | 271,343 | $8.2M | Reduce -11.3% |
| LBTYK Liberty Global Ltd. Class C | 1.11% | 793,269 | $8.2M | Reduce -4.4% |
| KO The Coca-Cola Co. | 0.66% | 68,961 | $4.9M | Reduce -6.1% |
| TRIP Tripadvisor Inc. | 0.59% | 332,357 | $4.3M | Reduce -4.8% |
| PG The Procter & Gamble Co. | 0.58% | 26,583 | $4.2M | Reduce -1.9% |
| AAPL Apple Inc. | 0.38% | 13,627 | $2.8M | Reduce -19.3% |
| CABO Cable One Inc. | 0.33% | 17,599 | $2.4M | Reduce -55.6% |
| MDLZ Mondelez International Inc. Class A | 0.29% | 31,517 | $2.1M | Reduce -11.2% |
| MSFT Microsoft Corp. | 0.22% | 3,262 | $1.6M | No change |
| HSY The Hershey Co. | 0.21% | 9,090 | $1.5M | Reduce -12.2% |
| MRK Merck & Co. Inc. | 0.20% | 18,856 | $1.5M | Reduce -0.1% |
| SIRI Sirius XM Holdings Inc. | 0.20% | 64,485 | $1.5M | Reduce -2.0% |
| GOOG Alphabet Inc. Class C | 0.20% | 8,270 | $1.5M | No change |
| MA Mastercard Inc. Class A | 0.19% | 2,528 | $1.4M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.18% | 2,147 | $1.3M | Reduce -36.0% |
| V Visa Inc. Class A | 0.18% | 3,647 | $1.3M | No change |
| LLYVK Liberty Media Corp.-Liberty-C | 0.15% | 13,334 | $1.1M | Reduce -1.3% |
| CLX Clorox Company | 0.15% | 8,979 | $1.1M | Reduce -10.7% |
| CVX Chevron Corp. | 0.13% | 6,819 | $976K | Reduce -17.1% |
| CL Colgate-Palmolive Co. | 0.13% | 10,690 | $972K | Reduce -14.8% |
| XOM Exxon Mobil Corp. | 0.13% | 8,910 | $961K | Reduce -7.5% |
| VOO Vanguard S&P 500 ETF | 0.13% | 1,671 | $949K | Add +1.5% |
| HLN Haleon PLC-ADR | 0.10% | 69,974 | $726K | Reduce -4.5% |
| JPM JPMorgan Chase & Co. | 0.09% | 2,383 | $691K | Reduce -4.0% |
| UNH Unitedhealth Group Inc. | 0.09% | 2,119 | $661K | No change |
| KHC The Kraft Heinz Co. | 0.09% | 25,136 | $649K | Reduce -21.5% |
| PM Philip Morris International | 0.09% | 3,511 | $639K | Reduce -7.9% |
| ABT Abbott Laboratories | 0.08% | 4,500 | $612K | No change |
| PIPR Piper Sandler Cos | 0.08% | 2,188 | $608K | No change |
| ZTS Zoetis Inc. | 0.08% | 3,872 | $604K | No change |
| GOOGL Alphabet Inc. Class A | 0.08% | 3,177 | $560K | No change |
| LLY Eli Lilly & Co. | 0.07% | 670 | $522K | No change |
| ADP Automatic Data Processing | 0.07% | 1,640 | $506K | Reduce -8.4% |
| ENB Enbridge Inc. | 0.06% | 10,346 | $469K | Reduce -14.5% |
| LBRDA Liberty Broadband-A | 0.06% | 4,630 | $453K | No change |
| MRSH Marsh & McLennan Cos | 0.06% | 1,960 | $429K | No change |
| MCD McDonald's Corp. | 0.05% | 1,271 | $371K | Reduce -7.2% |
| GIS General Mills Inc. | 0.05% | 6,900 | $357K | Reduce -30.3% |
| ABBV Abbvie Inc. | 0.05% | 1,789 | $332K | No change |
| PGR Progressive Corp. | 0.04% | 1,231 | $329K | Reduce -0.7% |
| GS Goldman Sachs Group Inc. | 0.04% | 456 | $323K | No change |
| APH Amphenol Corp. Class A | 0.04% | 3,200 | $316K | No change |
| TOST Toast Inc. Class A | 0.04% | 7,092 | $314K | No change |
| VEA Vanguard Ftse Developed ETF | 0.04% | 5,428 | $309K | Reduce -21.6% |
| BKNG Booking Holdings Inc. | 0.04% | 48 | $278K | No change |
| HIFS Hingham Institution for SVGS | 0.03% | 1,000 | $248K | Add +11.1% |
| IVV iShares Core S&P 500 ETF | 0.03% | 368 | $229K | No change |
| META Meta Platforms Inc. Class A | 0.03% | 300 | $221K | Reduce -33.3% |
| LLYVA Liberty Media Corp.-Liberty-A | 0.03% | 2,716 | $216K | New |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.03% | 765 | $214K | Reduce -16.0% |
| NKE Nike Inc. Class B | 0.03% | 3,000 | $213K | New |
| KKR KKR & Co. Inc. | 0.03% | 1,513 | $201K | New |
| VOD Vodafone Group PLC-SP ADR | 0.02% | 15,000 | $160K | Reduce -25.0% |
| CLAR Clarus Corp. | 0.01% | 18,255 | $63K | Reduce -25.4% |
| CRWS Crown Crafts Inc. | 0.00% | 12,500 | $36K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -14.7% | 16.57% | −3.45 |
| CABO Cable One Inc. | Reduce -55.6% | 0.33% | −1.02 |
| WTM White Mountains Insurance GP | Reduce -1.1% | 19.34% | −0.37 |
| NPK National Presto Inds Inc. | Sold out | 0.00% | −0.25 |
| LBTYA Liberty Global Ltd. Class A | Reduce -2.3% | 1.86% | −0.20 |
| LBTYK Liberty Global Ltd. Class C | Reduce -4.4% | 1.11% | −0.16 |
| AAPL Apple Inc. | Reduce -19.3% | 0.38% | −0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -36.0% | 0.18% | −0.06 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.06 |
| POST Post Holdings Inc. | Reduce -2.5% | 1.87% | −0.05 |
| CVX Chevron Corp. | Reduce -17.1% | 0.13% | −0.04 |
| CLX Clorox Company | Reduce -10.7% | 0.15% | −0.04 |
| TRIP Tripadvisor Inc. | Reduce -4.8% | 0.59% | −0.04 |
| KHC The Kraft Heinz Co. | Reduce -21.5% | 0.09% | −0.04 |
| SJM The JM Smucker Co. | Sold out | 0.00% | −0.03 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.03 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.03 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.03 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.03 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.03 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.03 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.03 |
| GIS General Mills Inc. | Reduce -30.3% | 0.05% | −0.03 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.03 |
| CNH CNH Industrial NV | Sold out | 0.00% | −0.02 |
| HSY The Hershey Co. | Reduce -12.2% | 0.21% | −0.02 |
| OGN Organon & Co. | Sold out | 0.00% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -11.2% | 0.29% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -14.8% | 0.13% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -7.5% | 0.13% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -1.9% | 0.58% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -0.1% | 0.20% | −0.01 |
| KO The Coca-Cola Co. | Reduce -6.1% | 0.66% | −0.01 |
| ENB Enbridge Inc. | Reduce -14.5% | 0.06% | −0.00 |
| MCD McDonald's Corp. | Reduce -7.2% | 0.05% | −0.00 |
| CLAR Clarus Corp. | Reduce -25.4% | 0.01% | −0.00 |
| META Meta Platforms Inc. Class A | Reduce -33.3% | 0.03% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -21.6% | 0.04% | −0.00 |
| VOD Vodafone Group PLC-SP ADR | Reduce -25.0% | 0.02% | −0.00 |
| ADP Automatic Data Processing | Reduce -8.4% | 0.07% | −0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -16.0% | 0.03% | −0.00 |
| PGR Progressive Corp. | Reduce -0.7% | 0.04% | −0.00 |
| HLN Haleon PLC-ADR | Reduce -4.5% | 0.10% | +0.00 |
| PM Philip Morris International | Reduce -7.9% | 0.09% | +0.01 |
| SIRI Sirius XM Holdings Inc. | Reduce -2.0% | 0.20% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -4.0% | 0.09% | +0.02 |
| LLYVK Liberty Media Corp.-Liberty-C | Reduce -1.3% | 0.15% | +0.03 |
| JOUT Johnson Outdoors Inc. Class A | Reduce -11.3% | 1.12% | +0.15 |
| UL Unilever PLC | Reduce -1.4% | 2.34% | +0.17 |
Portfolio Buys Q1 2025 → Q2 2025
| SEB Seaboard Corp. | Add +77.6% | 3.00% | +1.50 |
| MHK Mohawk Industries Inc. | Add +68.4% | 2.10% | +0.82 |
| TAP Molson Coors Beverage Co. Class B | Add +48.1% | 3.49% | +0.69 |
| JNJ Johnson & Johnson | Add +16.5% | 3.32% | +0.41 |
| L Loews Corp. | Add +0.2% | 3.35% | +0.20 |
| LLYVA Liberty Media Corp.-Liberty-A | New | 0.03% | +0.03 |
| NKE Nike Inc. Class B | New | 0.03% | +0.03 |
| KKR KKR & Co. Inc. | New | 0.03% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +1.5% | 0.13% | +0.02 |
| HIFS Hingham Institution for SVGS | Add +11.1% | 0.03% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 77 | $912.1M | GHC, WTM, BRK.B, PPLI, UHAL.B |
| Q1 2026 | 75 | $870.8M | WTM, GHC, BRK.B, PPLI, SEB |
| Q4 2025 | 75 | $830.5M | GHC, WTM, BRK.B, PPLI, SEB |
| Q3 2025 | 77 | $804.7M | GHC, WTM, BRK.B, SEB, JNJ |
| Q2 2025 | 72 | $733.9M | GHC, WTM, BRK.B, TAP, L |
| Q1 2025 | 83 | $781.0M | GHC, BRK.B, WTM, L, JNJ |
| Q4 2024 | 81 | $731.8M | WTM, GHC, BRK.B, L, JNJ |
| Q3 2024 | 85 | $738.5M | BRK.B, WTM, GHC, LBTYA, L |
| Q2 2024Amended | 79 | $690.0M | WTM, BRK.B, GHC, LBTYA, L |
| Q1 2024 | 77 | $733.1M | WTM, BRK.B, GHC, L, JNJ |