O'shaughnessy Asset Management, LLC
Reported US equity positions for Q1 2026 — $19.9B across 2,747 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| AAPL Apple Inc. | $903.8M | 4.5% | 3,561,249 |
| NVDA NVIDIA Corporation | $821.0M | 4.1% | 4,707,545 |
| MSFT Microsoft Corporation | $486.8M | 2.4% | 1,315,133 |
| GOOGL Alphabet Inc. | $378.3M | 1.9% | 1,315,467 |
| AMZN Amazon.com, Inc. | $362.1M | 1.8% | 1,738,777 |
| AVGO Broadcom Inc. | $302.8M | 1.5% | 978,167 |
| GOOG Alphabet Inc. - Class C Capital Stock | $276.1M | 1.4% | 962,551 |
| AGG iShares Core U.S. Aggregate Bond ETF | $251.5M | 1.3% | 2,533,553 |
| META Meta Platforms, Inc. | $234.8M | 1.2% | 410,442 |
| XOM ExxonMobil Holdings Corporation | $219.7M | 1.1% | 1,294,791 |
| JPM JP Morgan Chase & Co. | $215.3M | 1.1% | 731,961 |
| WMT Walmart Inc. | $193.0M | 1.0% | 1,552,813 |
| TSLA Tesla, Inc. | $186.7M | 0.9% | 502,231 |
| LLY Eli Lilly and Company | $172.5M | 0.9% | 187,547 |
| JNJ Johnson & Johnson | $168.9M | 0.8% | 690,959 |
| BRK.B Berkshire Hathaway Inc. | $152.1M | 0.8% | 317,440 |
| MO Altria Group, Inc. | $146.4M | 0.7% | 2,219,178 |
| V Visa Inc. | $144.4M | 0.7% | 477,922 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $138.3M | 0.7% | 409,370 |
| HCA HCA Healthcare, Inc. | $131.5M | 0.7% | 277,828 |
| COST Costco Wholesale Corporation | $122.7M | 0.6% | 123,162 |
| TPR Tapestry, Inc. | $121.6M | 0.6% | 861,945 |
| STIP iShares 0-5 Year TIPS Bond ETF | $120.3M | 0.6% | 1,163,284 |
| SPY State Street SPDR S&P 500 ETF Trust | $116.0M | 0.6% | 178,440 |
| CVX Chevron Corporation | $115.9M | 0.6% | 560,366 |
| C Citigroup, Inc. | $109.5M | 0.5% | 965,442 |
| SYF Synchrony Financial | $102.1M | 0.5% | 1,501,287 |
| WFC Wells Fargo & Company | $100.2M | 0.5% | 1,258,382 |
| EBAY eBay Inc. | $100.0M | 0.5% | 1,098,701 |
| BAC Bank of America Corporation | $99.1M | 0.5% | 2,032,905 |
| GM General Motors Company | $98.2M | 0.5% | 1,318,143 |
| CAT Caterpillar, Inc. | $97.4M | 0.5% | 137,539 |
| BAC Bank of America Corporation | $96.0M | 0.5% | 1,913,139 |
| MA Mastercard Incorporated | $92.4M | 0.5% | 184,914 |
| NFLX Netflix, Inc. | $91.7M | 0.5% | 953,290 |
| GILD Gilead Sciences, Inc. | $89.9M | 0.5% | 645,232 |
| CSCO Cisco Systems, Inc. | $88.1M | 0.4% | 1,134,902 |
| ABBV AbbVie Inc. | $86.7M | 0.4% | 398,709 |
| HD The Home Depot, Inc. | $85.2M | 0.4% | 259,034 |
| PFE Pfizer, Inc. | $80.9M | 0.4% | 2,880,883 |
| CMCSA Comcast Corporation | $80.2M | 0.4% | 2,791,840 |
| VOO Vanguard S&P 500 ETF | $78.1M | 0.4% | 130,723 |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | $76.8M | 0.4% | 1,460,256 |
| JBL Jabil Inc. | $75.5M | 0.4% | 284,246 |
| RTX RTX Corporation | $74.8M | 0.4% | 387,919 |
| MU Micron Technology, Inc. | $74.2M | 0.4% | 219,555 |
| GS The Goldman Sachs Group, Inc. | $72.6M | 0.4% | 85,851 |
| MRK Merck & Company, Inc. Common Stock (new) | $71.7M | 0.4% | 596,468 |
| MET MetLife, Inc. | $71.7M | 0.4% | 1,013,643 |
| KO The Coca-Cola Company | $70.6M | 0.4% | 927,902 |
| MUB iShares National Muni Bond ETF | $69.2M | 0.3% | 652,281 |
| PM Philip Morris International Inc | $68.4M | 0.3% | 413,502 |
| MPC Marathon Petroleum Corporation | $67.6M | 0.3% | 277,003 |
| LRCX Lam Research Corporation | $67.0M | 0.3% | 313,563 |
| EOG EOG Resources, Inc. | $66.2M | 0.3% | 457,711 |
| KHC The Kraft Heinz Company | $65.8M | 0.3% | 2,923,949 |
| PG The Procter & Gamble Company | $64.4M | 0.3% | 445,880 |
| VLO Valero Energy Corporation | $63.5M | 0.3% | 256,917 |
| NTRS Northern Trust Corporation | $62.7M | 0.3% | 449,078 |
| DHI D.R. Horton, Inc. | $61.9M | 0.3% | 450,978 |
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 |
|---|---|---|---|---|
| AAPL Apple Inc. | Add | $903.8M | $677.2M | +43% |
| NVDA NVIDIA Corporation | Add | $821.0M | $700.3M | +25% |
| MSFT Microsoft Corporation | Add | $486.8M | $573.9M | +11% |
| GOOGL Alphabet Inc. | Add | $378.3M | $341.1M | +21% |
| AMZN Amazon.com, Inc. | Add | $362.1M | $344.7M | +16% |
| AVGO Broadcom Inc. | Add | $302.8M | $283.9M | +19% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $276.1M | $241.8M | +25% |
| AGG iShares Core U.S. Aggregate Bond ETF | Add | $251.5M | $241.6M | +5% |
| META Meta Platforms, Inc. | Add | $234.8M | $211.2M | +28% |
| XOM ExxonMobil Holdings Corporation | Add | $219.7M | $109.2M | +43% |
| JPM JP Morgan Chase & Co. | Add | $215.3M | $218.9M | +8% |
| WMT Walmart Inc. | Add | $193.0M | $152.6M | +13% |
| TSLA Tesla, Inc. | Add | $186.7M | $182.3M | +24% |
| LLY Eli Lilly and Company | Add | $172.5M | $150.0M | +34% |
| JNJ Johnson & Johnson | Add | $168.9M | $128.3M | +11% |
| BRK.B Berkshire Hathaway Inc. | Add | $152.1M | $148.9M | +7% |
| MO Altria Group, Inc. | Add | $146.4M | $118.9M | +8% |
| V Visa Inc. | Add | $144.4M | $145.4M | +15% |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | Add | $138.3M | $116.0M | +7% |
| HCA HCA Healthcare, Inc. | Add | $131.5M | $117.4M | +10% |
| COST Costco Wholesale Corporation | Add | $122.7M | $72.9M | +46% |
| STIP iShares 0-5 Year TIPS Bond ETF | Add | $120.3M | $114.6M | +4% |
| SPY State Street SPDR S&P 500 ETF Trust | Add | $116.0M | $37.3M | +226% |
| CVX Chevron Corporation | Add | $115.9M | $78.5M | +9% |
| C Citigroup, Inc. | Add | $109.5M | $93.7M | +20% |
| SYF Synchrony Financial | Add | $102.1M | $118.4M | +6% |
| WFC Wells Fargo & Company | Trim | $100.2M | $129.3M | -9% |
| EBAY eBay Inc. | Add | $100.0M | $79.3M | +21% |
| BAC Bank of America Corporation | Add | $99.1M | $108.8M | +3% |
| GM General Motors Company | Trim | $98.2M | $113.3M | -5% |
| CAT Caterpillar, Inc. | Trim | $97.4M | $106.6M | -26% |
| BAC Bank of America Corporation | Add | $96.0M | $66.5M | +17% |
| MA Mastercard Incorporated | Add | $92.4M | $95.3M | +11% |
| NFLX Netflix, Inc. | Add | $91.7M | $76.7M | +17% |
| GILD Gilead Sciences, Inc. | Add | $89.9M | $74.5M | +6% |
| CSCO Cisco Systems, Inc. | Add | $88.1M | $85.9M | +2% |
| ABBV AbbVie Inc. | Add | $86.7M | $77.5M | +17% |
| HD The Home Depot, Inc. | Add | $85.2M | $72.5M | +23% |
| PFE Pfizer, Inc. | Add | $80.9M | $65.3M | +10% |
| CMCSA Comcast Corporation | Add | $80.2M | $59.9M | +39% |
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.