Brown Brothers Harriman & Co
Reported US equity positions for Q1 2026 — $18.6B across 1,800 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| IVV iShares Core S&P 500 ETF | $1.1B | 6.1% | 1,737,782 |
| GOOG Alphabet Inc. - Class C Capital Stock | $810.7M | 4.3% | 2,826,005 |
| MSFT Microsoft Corporation | $720.9M | 3.9% | 1,947,381 |
| AAPL Apple Inc. | $687.4M | 3.7% | 2,708,731 |
| AKRE Akre Focus Etf | $633.9M | 3.4% | 11,994,065 |
| BRK.B Berkshire Hathaway Inc. | $545.6M | 2.9% | 1,138,587 |
| KLAC KLA Corporation | $515.2M | 2.8% | 349,901 |
| AMZN Amazon.com, Inc. | $475.4M | 2.5% | 2,282,640 |
| BBHM Bbh Select Mid Cap Etf | $462.7M | 2.5% | 42,028,437 |
| BBHL Bbh Select Large Cap Etf | $420.2M | 2.3% | 27,973,649 |
| IEFA iShares Core MSCI EAFE ETF | $386.5M | 2.1% | 4,269,609 |
| WM Waste Management, Inc. | $379.2M | 2.0% | 1,650,235 |
| MA Mastercard Incorporated | $362.2M | 1.9% | 724,865 |
| G54950103 Linde PLC | $358.8M | 1.9% | 723,725 |
| NVDA NVIDIA Corporation | $331.0M | 1.8% | 1,898,205 |
| AMAT Applied Materials, Inc. | $300.5M | 1.6% | 879,089 |
| USB U.S. Bancorp | $298.8M | 1.6% | 5,745,120 |
| QLTY GMO U.S. Quality ETF | $292.7M | 1.6% | 8,089,207 |
| ORCL Oracle Corporation | $277.5M | 1.5% | 1,886,497 |
| PGR The Progressive Corporation | $258.2M | 1.4% | 1,302,652 |
| EAGL Eagle Capital Select Equity ETF | $249.9M | 1.3% | 8,215,230 |
| WMT Walmart Inc. | $240.2M | 1.3% | 1,932,683 |
| COST Costco Wholesale Corporation | $233.2M | 1.3% | 234,028 |
| LLY Eli Lilly and Company | $225.9M | 1.2% | 245,599 |
| AJG Arthur J. Gallagher & Co. | $223.4M | 1.2% | 1,031,635 |
| GOOGL Alphabet Inc. | $169.5M | 0.9% | 589,515 |
| SPY State Street SPDR S&P 500 ETF Trust | $167.7M | 0.9% | 257,892 |
| ZTS Zoetis Inc. Class A | $167.5M | 0.9% | 1,416,566 |
| TMO Thermo Fisher Scientific Inc | $166.4M | 0.9% | 338,619 |
| JPM JP Morgan Chase & Co. | $166.1M | 0.9% | 564,561 |
| H01301128 Alcon INC | $154.6M | 0.8% | 2,052,229 |
| ROK Rockwell Automation, Inc. | $152.8M | 0.8% | 425,771 |
| NKE Nike, Inc. | $152.1M | 0.8% | 2,879,404 |
| TXN Texas Instruments Incorporated | $150.3M | 0.8% | 774,141 |
| CDNS Cadence Design Systems, Inc. | $150.1M | 0.8% | 540,303 |
| MCD McDonald's Corporation | $149.2M | 0.8% | 480,179 |
| JNJ Johnson & Johnson | $147.0M | 0.8% | 601,322 |
| PG The Procter & Gamble Company | $139.6M | 0.7% | 966,537 |
| AVGO Broadcom Inc. | $139.5M | 0.7% | 450,849 |
| SPGI S&P Global Inc. | $135.7M | 0.7% | 319,107 |
| ABT Abbott Laboratories | $126.3M | 0.7% | 1,229,974 |
| BKNG Booking Holdings Inc. | $122.9M | 0.7% | 29,187 |
| IWM iShares Russell 2000 Index Fund | $119.9M | 0.6% | 483,271 |
| GWRE Guidewire Software, Inc. | $105.6M | 0.6% | 706,244 |
| KO The Coca-Cola Company | $103.7M | 0.6% | 1,363,492 |
| ADI Analog Devices, Inc. | $102.8M | 0.6% | 323,041 |
| BRK.A Berkshire Hathaway Inc. | $98.4M | 0.5% | 137 |
| PANW Palo Alto Networks, Inc. | $96.3M | 0.5% | 600,388 |
| WWD Woodward, Inc. | $85.7M | 0.5% | 239,421 |
| WSO Watsco, Inc. | $82.2M | 0.4% | 225,996 |
| V Visa Inc. | $81.3M | 0.4% | 269,111 |
| KEYS Keysight Technologies Inc. | $76.6M | 0.4% | 271,410 |
| DAR Darling Ingredients Inc. | $72.9M | 0.4% | 1,178,628 |
| WH Wyndham Hotels & Resorts, Inc. | $72.4M | 0.4% | 891,739 |
| GFL GFL Environmental Inc. Subordinate voting shares, no par value | $72.1M | 0.4% | 1,728,734 |
| GXO GXO Logistics, Inc. | $70.9M | 0.4% | 1,368,285 |
| DE Deere & Company | $70.9M | 0.4% | 125,904 |
| PM Philip Morris International Inc | $67.9M | 0.4% | 410,938 |
| CBRE CBRE Group Inc Common Stock Class A | $66.4M | 0.4% | 490,368 |
| ANET Arista Networks, Inc. | $66.2M | 0.4% | 538,886 |
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 |
|---|---|---|---|---|
| IVV iShares Core S&P 500 ETF | Add | $1.1B | $772.3M | +54% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $810.7M | $946.2M | -6% |
| MSFT Microsoft Corporation | Add | $720.9M | $901.0M | +5% |
| AAPL Apple Inc. | Add | $687.4M | $633.8M | +16% |
| AKRE Akre Focus Etf | Trim | $633.9M | $1.0B | -24% |
| BRK.B Berkshire Hathaway Inc. | Add | $545.6M | $565.0M | +1% |
| KLAC KLA Corporation | Trim | $515.2M | $527.2M | -19% |
| AMZN Amazon.com, Inc. | Add | $475.4M | $517.8M | +2% |
| BBHM Bbh Select Mid Cap Etf | Trim | $462.7M | $481.6M | -2% |
| BBHL Bbh Select Large Cap Etf | Add | $420.2M | $425.8M | +6% |
| IEFA iShares Core MSCI EAFE ETF | Add | $386.5M | $264.9M | +44% |
| MA Mastercard Incorporated | Trim | $362.2M | $565.3M | -27% |
| NVDA NVIDIA Corporation | Add | $331.0M | $304.0M | +16% |
| AMAT Applied Materials, Inc. | Trim | $300.5M | $275.8M | -18% |
| QLTY GMO U.S. Quality ETF | Add | $292.7M | $86.2M | +261% |
| ORCL Oracle Corporation | Trim | $277.5M | $437.0M | -16% |
| PGR The Progressive Corporation | Add | $258.2M | $236.7M | +25% |
| EAGL Eagle Capital Select Equity ETF | Add | $249.9M | $77.8M | +243% |
| WMT Walmart Inc. | Add | $240.2M | $210.5M | +2% |
| LLY Eli Lilly and Company | Add | $225.9M | $198.0M | +33% |
| GOOGL Alphabet Inc. | Add | $169.5M | $169.6M | +9% |
| SPY State Street SPDR S&P 500 ETF Trust | Add | $167.7M | $173.9M | +1% |
| ZTS Zoetis Inc. Class A | Trim | $167.5M | $210.1M | -15% |
| TMO Thermo Fisher Scientific Inc | Trim | $166.4M | $266.5M | -26% |
| JPM JP Morgan Chase & Co. | Add | $166.1M | $42.7M | +326% |
| H01301128 Alcon INC | Trim | $154.6M | $184.6M | -12% |
| NKE Nike, Inc. | Add | $152.1M | $178.6M | +3% |
| TXN Texas Instruments Incorporated | Trim | $150.3M | $144.5M | -7% |
| MCD McDonald's Corporation | Add | $149.2M | $108.8M | +35% |
| JNJ Johnson & Johnson | Add | $147.0M | $78.0M | +60% |
| PG The Procter & Gamble Company | Add | $139.6M | $110.6M | +25% |
| AVGO Broadcom Inc. | Add | $139.5M | $34.8M | +349% |
| SPGI S&P Global Inc. | Trim | $135.7M | $272.4M | -39% |
| ABT Abbott Laboratories | Trim | $126.3M | $195.2M | -21% |
| BKNG Booking Holdings Inc. | Trim | $122.9M | $320.8M | -51% |
| IWM iShares Russell 2000 Index Fund | Add | $119.9M | $31.0M | +284% |
| GWRE Guidewire Software, Inc. | Trim | $105.6M | $147.1M | -3% |
| KO The Coca-Cola Company | Add | $103.7M | $74.4M | +28% |
| ADI Analog Devices, Inc. | Add | $102.8M | $71.7M | +22% |
| WWD Woodward, Inc. | Trim | $85.7M | $102.5M | -29% |
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.