Wcm Investment Management, LLC
Reported US equity positions for Q1 2026 — $43.8B across 291 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $3.0B | 6.7% | 9,327,592 |
| SE Sea Limited American Preferred | $2.6B | 6.0% | 33,746,475 |
| N07059210 Asml Hldg Nv | $1.9B | 4.4% | 1,523,796 |
| APP Applovin Corporation | $1.9B | 4.2% | 5,001,600 |
| PM Philip Morris International Inc | $1.8B | 4.1% | 10,783,780 |
| WDC Western Digital Corporation | $1.7B | 3.8% | 6,561,810 |
| G54950103 Linde PLC | $1.6B | 3.7% | 3,234,984 |
| G7997R103 Seagate Technology Hldngs Pl | $1.6B | 3.6% | 4,346,852 |
| IBN ICICI Bank Limited | $1.3B | 3.0% | 52,241,896 |
| CP Canadian Pacific Kansas City Limited | $1.2B | 2.8% | 16,084,320 |
| AMZN Amazon.com, Inc. | $1.2B | 2.8% | 6,166,656 |
| G0450A105 Arch Cap Group LTD | $1.2B | 2.8% | 12,602,412 |
| TEVA Teva Pharmaceutical Industries Limited American Preferred | $1.2B | 2.6% | 40,820,600 |
| L8681T102 Spotify Technology S A | $1.1B | 2.6% | 2,415,077 |
| GLW Corning Incorporated | $1.0B | 2.4% | 8,106,869 |
| G6683N103 Nu Hldgs LTD | $984.0M | 2.2% | 72,837,195 |
| FERG Ferguson Enterprises Inc. | $972.5M | 2.2% | 4,348,417 |
| G5960L103 Medtronic PLC | $965.9M | 2.2% | 11,265,714 |
| CAH Cardinal Health, Inc. | $826.6M | 1.9% | 4,006,636 |
| MCK McKesson Corporation | $801.8M | 1.8% | 932,121 |
| NVDA NVIDIA Corporation | $771.2M | 1.8% | 4,669,094 |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $746.9M | 1.7% | 6,682,523 |
| CTVA Corteva, Inc. | $722.7M | 1.6% | 8,712,618 |
| ILMN Illumina, Inc. | $715.6M | 1.6% | 5,923,173 |
| MSFT Microsoft Corporation | $690.8M | 1.6% | 1,924,322 |
| WELL Welltower Inc. | $636.1M | 1.5% | 3,256,983 |
| G0403H108 Aon PLC | $632.7M | 1.4% | 1,952,379 |
| WCN Waste Connections, Inc. | $627.3M | 1.4% | 3,875,396 |
| GE GE Aerospace | $625.7M | 1.4% | 2,289,914 |
| V Visa Inc. | $618.5M | 1.4% | 2,064,855 |
| CHRW C.H. Robinson Worldwide, Inc. | $579.9M | 1.3% | 3,581,536 |
| RGA Reinsurance Group of America, Incorporated | $566.8M | 1.3% | 2,830,620 |
| LPLA LPL Financial Holdings Inc. | $520.6M | 1.2% | 1,734,395 |
| AJG Arthur J. Gallagher & Co. | $510.2M | 1.2% | 2,362,513 |
| VRTX Vertex Pharmaceuticals Incorporated | $496.9M | 1.1% | 1,121,341 |
| MDLN Medline INC | $307.7M | 0.7% | 7,218,731 |
| GDDY GoDaddy Inc. Class A | $270.9M | 0.6% | 3,314,456 |
| CRC California Resources Corporation | $252.9M | 0.6% | 5,122,209 |
| NVS Novartis AG | $220.0M | 0.5% | 1,463,180 |
| H42097107 Ubs Group Ag | $214.5M | 0.5% | 5,850,200 |
| CRS Carpenter Technology Corporation | $177.3M | 0.4% | 478,314 |
| HOOD Robinhood Markets, Inc. | $176.5M | 0.4% | 2,708,576 |
| BKD Brookdale Senior Living Inc. | $171.7M | 0.4% | 12,812,004 |
| AHR American Healthcare REIT, Inc. | $160.7M | 0.4% | 3,425,295 |
| TPR Tapestry, Inc. | $154.8M | 0.4% | 1,130,317 |
| FIX Comfort Systems USA, Inc. | $148.6M | 0.3% | 116,698 |
| SAP SAP SE ADS | $140.3M | 0.3% | 833,584 |
| BTI British American Tobacco Industries, p.l.c. Common Stock ADR | $137.7M | 0.3% | 2,362,818 |
| LYG Lloyds Banking Group Plc American Depositary Shares | $128.2M | 0.3% | 26,548,234 |
| G2519Y108 Credicorp LTD | $84.0M | 0.2% | 262,968 |
| G4R20B107 Inter & Co INC | $79.9M | 0.2% | 10,439,629 |
| G8068L108 Sharkninja INC | $77.4M | 0.2% | 793,063 |
| ACMR ACM Research, Inc. | $70.6M | 0.2% | 1,860,874 |
| CLS Celestica, Inc. | $68.1M | 0.2% | 264,837 |
| GDS GDS Holdings Limited | $68.1M | 0.2% | 1,733,937 |
| SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp American… | $64.7M | 0.1% | 2,198,987 |
| CX Cemex, S.A.B. de C.V. Sponsored ADR | $61.5M | 0.1% | 5,741,766 |
| N97284108 Nebius Group N.V. | $55.0M | 0.1% | 595,840 |
| SLB SLB Limited | $48.6M | 0.1% | 942,864 |
| BIDU Baidu, Inc. | $48.4M | 0.1% | 454,295 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | Trim | $3.0B | $2.9B | -5% |
| SE Sea Limited American Preferred | Add | $2.6B | $3.3B | +30% |
| N07059210 Asml Hldg Nv | Trim | $1.9B | $2.0B | -19% |
| APP Applovin Corporation | Add | $1.9B | $3.3B | +5% |
| WDC Western Digital Corporation | Trim | $1.7B | $1.2B | -2% |
| G54950103 Linde PLC | Trim | $1.6B | $1.4B | -1% |
| G7997R103 Seagate Technology Hldngs Pl | Trim | $1.6B | $1.4B | -16% |
| IBN ICICI Bank Limited | Trim | $1.3B | $1.6B | -2% |
| CP Canadian Pacific Kansas City Limited | Trim | $1.2B | $1.2B | -1% |
| G0450A105 Arch Cap Group LTD | Trim | $1.2B | $1.3B | -5% |
| TEVA Teva Pharmaceutical Industries Limited American Preferred | Add | $1.2B | $439.0M | +191% |
| L8681T102 Spotify Technology S A | Trim | $1.1B | $1.4B | -2% |
| GLW Corning Incorporated | Trim | $1.0B | $730.9M | -1% |
| G6683N103 Nu Hldgs LTD | Trim | $984.0M | $1.2B | -1% |
| FERG Ferguson Enterprises Inc. | Trim | $972.5M | $993.9M | -1% |
| MCK McKesson Corporation | Trim | $801.8M | $781.1M | -1% |
| NVDA NVIDIA Corporation | Add | $771.2M | $849.0M | +3% |
| CTVA Corteva, Inc. | Trim | $722.7M | $593.2M | -1% |
| ILMN Illumina, Inc. | Add | $715.6M | $540.5M | +45% |
| G0403H108 Aon PLC | Trim | $632.7M | $708.0M | -2% |
| WCN Waste Connections, Inc. | Trim | $627.3M | $1.1B | -38% |
| V Visa Inc. | Trim | $618.5M | $737.7M | -1% |
| RGA Reinsurance Group of America, Incorporated | Add | $566.8M | $562.9M | +3% |
| MDLN Medline INC | Trim | $307.7M | $307.0M | -1% |
| GDDY GoDaddy Inc. Class A | Add | $270.9M | $413.7M | +1% |
| CRC California Resources Corporation | Add | $252.9M | $141.9M | +22% |
| H42097107 Ubs Group Ag | Add | $214.5M | $242.4M | +12% |
| CRS Carpenter Technology Corporation | Add | $177.3M | $138.2M | +10% |
| HOOD Robinhood Markets, Inc. | Trim | $176.5M | $595.5M | -47% |
| TPR Tapestry, Inc. | Add | $154.8M | $121.6M | +20% |
| FIX Comfort Systems USA, Inc. | Add | $148.6M | $88.7M | +25% |
| SAP SAP SE ADS | Trim | $140.3M | $273.9M | -26% |
| G2519Y108 Credicorp LTD | Trim | $84.0M | $82.9M | -8% |
| G4R20B107 Inter & Co INC | Trim | $79.9M | $93.9M | -6% |
| G8068L108 Sharkninja INC | Add | $77.4M | $86.5M | +4% |
| CLS Celestica, Inc. | Trim | $68.1M | $157.1M | -50% |
| SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp American… | Add | $64.7M | $10.7M | +397% |
| CX Cemex, S.A.B. de C.V. Sponsored ADR | Trim | $61.5M | $70.1M | -5% |
| N97284108 Nebius Group N.V. | Add | $55.0M | $13.9M | +265% |
| KSPI Joint Stock Company Kaspi.kz - American Depository Shares | Add | $41.3M | $19.6M | +130% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.