Brandywine Global Investment Management, LLC
CIK
829108
Location
Philadelphia, PA
Portfolio Value
Large
$14,632,933,491
Diversification
Diversified
Filing Date
Global Rank
#257
/ 8,420
▲ 81
Top Industry
Banks - Diversified
9.9%
3Y Alpha vs SPY
-3.2%
Period ended 6 months ago
Filed Feb 11, 2026 · 4mo
24 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+64.0%
SPY
+76.3%
Annualised alpha
-2.9%
Max drawdown
−16.6%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
584 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
3.0%
−0.2 pts
Top 5
12.4%
+0.1 pts
Top 10
20.6%
+0.2 pts
HHI
84
Diversified+3
Portfolio Trend
24 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 25.0% | $3,658,531,949 |
| Healthcare | 14.6% | $2,129,995,772 |
| Industrials | 11.0% | $1,605,757,081 |
| Consumer Defensive | 9.2% | $1,342,535,786 |
| Communication Services | 9.0% | $1,315,711,455 |
| Consumer Cyclical | 8.8% | $1,285,113,213 |
| Energy | 7.6% | $1,116,883,654 |
| Technology | 6.7% | $985,902,517 |
| Utilities | 4.2% | $608,712,471 |
| Basic Materials | 2.4% | $348,193,107 |
| Real Estate | 1.5% | $225,584,867 |
| Unclassified | 0.1% | $10,011,619 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CNH | CNH Industrial N.V. | +3,227,143 | 4,961,457 | $45,744,633 | |
| RIG | Transocean Ltd. | +2,044,544 | 2,523,548 | $10,422,253 | |
| PFE | Pfizer Inc | +1,250,255 | 2,857,645 | $71,155,360 | |
| VTRS | Viatris Inc | +981,842 | 5,423,976 | $67,528,501 | |
| MRK | Merck & Co., Inc. | +818,978 | 905,795 | $95,343,981 | |
| KMB | Kimberly Clark Corp | +507,339 | 922,106 | $93,031,274 | |
| DVN | Devon Energy Corp/De | +432,294 | 1,111,510 | $40,714,611 | |
| T | At&T Inc. | +429,275 | 12,229,088 | $303,770,545 | |
| PEP | Pepsico Inc | +414,393 | 1,391,861 | $199,759,890 | |
| M | Macy's, Inc. | +374,978 | 511,406 | $11,276,502 | |
| XOM | Exxon Mobil Corp | +354,333 | 2,009,194 | $241,786,405 | |
| KR | Kroger Co | +309,064 | 3,357,243 | $209,760,542 | |
| MIDD | MIDDLEBY Corp | +300,577 | 337,939 | $50,241,391 | |
| TALO | Talos Energy Inc. | +300,518 | 389,201 | $4,288,995 | |
| NE | Noble Corp plc | +283,214 | 363,896 | $10,276,423 | |
| ON | On Semiconductor Corp | +275,079 | 1,847,377 | $100,035,464 | |
| MUR | Murphy Oil Corp | +254,675 | 327,156 | $10,223,625 | |
| PG | PROCTER & GAMBLE Co | +239,348 | 481,295 | $68,974,386 | |
| GPN | Global Payments Inc | +237,499 | 1,888,747 | $146,189,017 | |
| FDX | Fedex Corp | +225,856 | 553,129 | $159,776,842 | |
| AES | Aes Corp | +219,500 | 500,797 | $7,181,428 | |
| HOG | Harley-Davidson, Inc. | +209,025 | 270,744 | $5,547,544 | |
| PBF | PBF Energy Inc. | +206,666 | 265,493 | $7,200,170 | |
| XPRO | Expro Group Holdings N.V. | +201,535 | 260,062 | $3,471,827 | |
| FHN | First Horizon Corp | +194,406 | 562,604 | $13,446,235 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ABEV | Ambev S.A. | −16,559,938 | 308,950 | $763,106 | |
| FMC | Fmc Corp | −2,238,370 | 42,476 | $589,142 | |
| GM | General Motors Co | −1,481,772 | 1,412,993 | $114,904,590 | |
| CMCSA | Comcast Corp | −1,426,711 | 6,975,368 | $195,401,681 | |
| CSCO | Cisco Systems, Inc. | −1,390,709 | 810,693 | $62,447,681 | |
| RES | Rpc Inc | −580,541 | 329,724 | $1,793,698 | |
| NLY | Annaly Capital Management Inc | −452,894 | 2,771,945 | $61,980,690 | |
| CSX | Csx Corp | −440,664 | 1,202,015 | $43,573,043 | |
| CVS | CVS HEALTH Corp | −414,402 | 2,723,074 | $216,103,152 | |
| ADT | ADT Inc. | −409,352 | 766,045 | $6,181,983 | |
| GMAB | Genmab A/S | −381,371 | 1,031,464 | $31,769,091 | |
| CCK | Crown Holdings, Inc. | −345,561 | 108,512 | $11,173,480 | |
| MU | Micron Technology Inc | −318,439 | 1,421 | $405,567 | |
| AER | AerCap Holdings N.V. | −288,780 | 873,309 | $125,546,901 | |
| CVX | Chevron Corp | −284,844 | 1,646 | $250,866 | |
| SLB | Slb Limited/Nv | −257,698 | 973,671 | $37,369,492 | |
| WMT | Walmart Inc. | −195,163 | 192,599 | $21,457,454 | |
| DG | Dollar General Corp | −184,386 | 1,254,014 | $166,495,438 | |
| BAC | Bank Of America Corp /De/ | −124,903 | 5,972,520 | $328,488,600 | |
| ANF | Abercrombie & Fitch Co /De/ | −118,618 | 637,848 | $80,285,927 | |
| DAL | Delta Air Lines, Inc. | −112,701 | 1,838,051 | $127,560,739 | |
| NRG | Nrg Energy, Inc. | −100,733 | 268,251 | $42,716,289 | |
| WHR | Whirlpool Corp /De/ | −95,108 | 380,676 | $27,461,966 | |
| C | Citigroup Inc | −83,983 | 2,696,496 | $314,654,118 | |
| JPM | Jpmorgan Chase & Co | −68,745 | 1,374,890 | $443,017,055 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SW | Smurfit Westrock plc | 1,404,000 | $54,292,680 | |
| DEO | Diageo PLC | 540,879 | $46,661,631 | |
| ITW | Illinois Tool Works Inc | 125,737 | $30,969,023 | |
| FANG | Diamondback Energy, Inc. | 200,936 | $30,206,708 | |
| LNG | Cheniere Energy, Inc. | 149,569 | $29,074,717 | |
| OI | O-I Glass, Inc. /DE/ | 1,698,081 | $25,063,675 | |
| TPR | Tapestry, Inc. | 142,168 | $18,164,805 | |
| REGN | Regeneron Pharmaceuticals, Inc. | 23,076 | $17,811,672 | |
| HAL | Halliburton Co | 586,599 | $16,577,287 | |
| XYZ | Block, Inc. | 189,650 | $12,344,318 | |
| MTH | Meritage Homes CORP | 161,308 | $10,614,066 | |
| AA | Alcoa Corp | 181,296 | $9,634,069 | |
| BTU | Peabody Energy Corp | 278,781 | $8,279,795 | |
| THO | Thor Industries Inc | 79,128 | $8,124,071 | |
| PVH | Pvh Corp. /De/ | 110,288 | $7,391,501 | |
| HPQ | Hp Inc | 311,249 | $6,934,627 | |
| ZTS | Zoetis Inc. | 51,878 | $6,527,289 | |
| MPC | Marathon Petroleum Corp | 35,478 | $5,769,787 | |
| OII | Oceaneering International Inc | 228,424 | $5,489,028 | |
| KSS | KOHLS Corp | 256,874 | $5,242,798 | |
| SDRL | Seadrill Ltd | 142,989 | $4,947,419 | |
| BBY | Best Buy Co Inc | 69,605 | $4,658,662 | |
| CXW | CoreCivic, Inc. | 239,527 | $4,577,360 | |
| RPM | Rpm International Inc/De/ | 41,911 | $4,358,744 | |
| WBTN | WEBTOON Entertainment Inc. | 299,547 | $3,903,097 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ABBV | AbbVie Inc. | 496,675 | $115,000,129 | |
| DE | Deere & Co | 216,680 | $99,079,096 | |
| CRH | Crh Public Ltd Co | 441,772 | $52,968,462 | |
| NSC | Norfolk Southern Corp | 136,434 | $40,986,137 | |
| APO | Apollo Global Management, Inc. | 276,854 | $36,896,332 | |
| OGN | Organon & Co. | 2,214,334 | $23,649,087 | |
| MGM | MGM Resorts International | 675,415 | $23,409,883 | |
| AMAT | Applied Materials Inc /De | 110,431 | $22,609,642 | |
| CAH | Cardinal Health Inc | 142,524 | $22,370,567 | |
| SEE | SEALED AIR CORP/DE | 598,798 | $21,167,509 | |
| TRGP | Targa Resources Corp. | 92,087 | $15,428,255 | |
| CLF | Cleveland-Cliffs Inc. | 1,256,507 | $15,329,385 | |
| KVUE | Kenvue Inc. | 900,211 | $14,610,424 | |
| PFSI | PennyMac Financial Services, Inc. | 108,431 | $13,432,432 | |
| CG | Carlyle Group Inc. | 212,622 | $13,331,399 | |
| HBAN | Huntington Bancshares Inc /Md/ | 711,563 | $12,288,693 | |
| EXPD | Expeditors International Of Washington Inc | 96,058 | $11,775,750 | |
| HCC | Warrior Met Coal, Inc. | 159,369 | $10,142,243 | |
| CPAY | Corpay, Inc. | 33,855 | $9,752,271 | |
| VAC | MARRIOTT VACATIONS WORLDWIDE Corp | 143,543 | $9,554,222 | |
| TAP | Molson Coors Beverage Co | 180,644 | $8,174,141 | |
| BHF | Brighthouse Financial, Inc. | 147,402 | $7,824,098 | |
| APTV | Aptiv PLC | 88,047 | $7,591,412 | |
| ENR | Energizer Holdings, Inc. | 304,045 | $7,567,680 | |
| CNXC | Concentrix Corp | 160,173 | $7,391,983 | |
| No positions match the current search. | ||||
584 positions ·
$14,632,933,491 total
· as of Dec 31, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 584 positions by value
· page 1 of 12
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| SATS |
EchoStar CORP
Communication Services
|
NEW | 21 | $2,282 | 0.00% | |
| SNAP |
Snap Inc
Communication Services
|
Added | 1,212 | $9,780 | 0.00% | |
| CIA |
Citizens, Inc.
Financial Services
|
NEW | 17,480 | $84,428 | 0.00% | |
| MPAA |
Motorcar Parts Of America Inc
Consumer Cyclical
|
NEW | 10,180 | $125,621 | 0.00% | |
| PBYI |
Puma Biotechnology, Inc.
Healthcare
|
NEW | 21,800 | $129,710 | 0.00% | |
| RYAM |
Rayonier Advanced Materials Inc.
Basic Materials
|
NEW | 23,330 | $137,413 | 0.00% | |
| HDSN |
Hudson Technologies Inc /Ny
Basic Materials
|
NEW | 22,600 | $154,810 | 0.00% | |
| AMCX |
AMC Global Media Inc.
Communication Services
|
NEW | 16,600 | $158,032 | 0.00% | |
| JRVR |
James River Group Holdings, Inc.
Financial Services
|
NEW | 26,170 | $166,441 | 0.00% | |
| WSBF |
Waterstone Financial, Inc.
Financial Services
|
Held | 10,670 | $176,588 | 0.00% | |
| PDLB |
Ponce Financial Group, Inc.
Financial Services
|
Held | 11,360 | $185,736 | 0.00% | |
| AAPL |
Apple Inc.
Technology
|
NEW | 744 | $202,263 | 0.00% | |
| ONIT |
Onity Group Inc.
Financial Services
|
NEW | 4,570 | $209,260 | 0.00% | |
| QUAD |
Quad/Graphics, Inc.
Industrials
|
Held | 34,700 | $217,569 | 0.00% | |
| KRNY |
Kearny Financial Corp.
Financial Services
|
Added | 31,550 | $233,785 | 0.00% | |
| NFBK |
Northfield Bancorp, Inc.
Financial Services
|
Reduced | 20,630 | $235,800 | 0.00% | |
| FG |
F&G Annuities & Life, Inc.
Financial Services
|
NEW | 7,834 | $241,678 | 0.00% | |
| CVX |
Chevron Corp
Energy
|
Reduced | 1,646 | $250,866 | 0.00% | |
| BSRR |
Sierra Bancorp
Financial Services
|
Held | 8,192 | $267,714 | 0.00% | |
| VPG |
Vishay Precision Group, Inc.
Technology
|
Held | 7,020 | $270,270 | 0.00% | |
| NBHC |
National Bank Holdings Corp
Financial Services
|
Reduced | 7,386 | $280,741 | 0.00% | |
| CIVB |
Civista Bancshares, Inc.
Financial Services
|
NEW | 12,701 | $282,216 | 0.00% | |
| BWB |
Bridgewater Bancshares Inc
Financial Services
|
Added | 16,710 | $292,926 | 0.00% | |
| RNGR |
Ranger Energy Services, Inc.
Energy
|
Held | 21,390 | $299,032 | 0.00% | |
| NGS |
Natural Gas Services Group Inc
Energy
|
Held | 9,385 | $315,805 | 0.00% | |
| CWBC |
Community West Bancshares
Financial Services
|
NEW | 14,055 | $316,237 | 0.00% | |
| AROW |
Arrow Financial Corp
Financial Services
|
Added | 10,100 | $317,140 | 0.00% | |
| VNDA |
Vanda Pharmaceuticals Inc.
Healthcare
|
Held | 39,390 | $347,419 | 0.00% | |
| SHBI |
Shore Bancshares Inc
Financial Services
|
Added | 20,020 | $353,953 | 0.00% | |
| FISI |
Financial Institutions Inc
Financial Services
|
Added | 12,230 | $381,209 | 0.00% | |
| OIS |
Oil States International, Inc
Energy
|
Held | 57,410 | $388,665 | 0.00% | |
| MU |
Micron Technology Inc
Technology
|
Reduced | 1,421 | $405,567 | 0.00% | |
| ORRF |
Orrstown Financial Services Inc
Financial Services
|
NEW | 11,710 | $414,768 | 0.00% | |
| MPB |
Mid Penn Bancorp Inc
Financial Services
|
Added | 13,840 | $429,316 | 0.00% | |
| THFF |
First Financial Corp /In/
Financial Services
|
Added | 7,130 | $430,794 | 0.00% | |
| OMF |
OneMain Holdings, Inc.
Financial Services
|
NEW | 6,408 | $432,860 | 0.00% | |
| HBNC |
Horizon Bancorp Inc /In/
Financial Services
|
Reduced | 25,610 | $434,345 | 0.00% | |
| HTBK |
HERITAGE COMMERCE CORP
Financial Services
|
Added | 36,730 | $441,127 | 0.00% | |
| TCBX |
Third Coast Bancshares, Inc.
Financial Services
|
Added | 12,390 | $470,943 | 0.00% | |
| HAFC |
Hanmi Financial Corp
Financial Services
|
Added | 18,190 | $491,675 | 0.00% | |
| EQBK |
Equity Bancshares Inc
Financial Services
|
Added | 11,600 | $517,940 | 0.00% | |
| CPF |
Central Pacific Financial Corp
Financial Services
|
Added | 16,756 | $522,116 | 0.00% | |
| RM |
Regional Management Corp.
Financial Services
|
Reduced | 13,600 | $527,000 | 0.00% | |
| NRIM |
Northrim Bancorp Inc
Financial Services
|
Added | 20,096 | $534,754 | 0.00% | |
| CFFN |
Capitol Federal Financial, Inc.
Financial Services
|
Added | 79,040 | $538,262 | 0.00% | |
| NBBK |
NB Bancorp, Inc.
Financial Services
|
NEW | 27,470 | $544,455 | 0.00% | |
| SBSI |
Southside Bancshares Inc
Financial Services
|
NEW | 18,017 | $547,536 | 0.00% | |
| UVSP |
UNIVEST FINANCIAL Corp
Financial Services
|
Added | 16,956 | $555,139 | 0.00% | |
| BHRB |
Burke & Herbert Financial Services Corp.
Financial Services
|
NEW | 9,150 | $570,136 | 0.00% | |
| FMC |
Fmc Corp
Basic Materials
|
Reduced | 42,476 | $589,142 | 0.00% |