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

-2.9%

Period ended 6 months ago

Filed Feb 11, 2026 · 4mo

24 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical 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, 2025

Top Position

3.0%

−0.2 pts

Top 5

12.4%

+0.1 pts

Top 10

20.6%

+0.2 pts

HHI

Diversified+3

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Financial Services	25.0%	$3,658,531,949	199
Healthcare	14.6%	$2,129,995,772	50
Industrials	11.0%	$1,605,757,081	61
Consumer Defensive	9.2%	$1,342,535,786	34
Communication Services	9.0%	$1,315,711,455	20
Consumer Cyclical	8.8%	$1,285,113,213	79
Energy	7.6%	$1,116,883,654	49
Technology	6.7%	$985,902,517	39
Utilities	4.2%	$608,712,471	23
Basic Materials	2.4%	$348,193,107	24
Real Estate	1.5%	$225,584,867	5
Unclassified	0.1%	$10,011,619	1

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
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
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
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
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.

Portfolio Positions

Compact Export CSV View 13F filing

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 51–100 of 584 positions by value · page 2 of 12

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DCOM	Dime Community Bancshares, Inc. /NY/ Financial Services	NEW	20,890	NEW	$628,580	NEW	0.00%
OCFC	Oceanfirst Financial Corp Financial Services	Reduced	38,004	-857	$682,171	−0.1%	0.00%
CRUS	Cirrus Logic, Inc. Technology	NEW	5,875	NEW	$696,187	NEW	0.00%
LEG	Leggett & Platt Inc Consumer Cyclical	Reduced	65,346	-3,300	$718,806	+17.9%	0.00%
ABEV	Ambev S.A. Consumer Defensive	Reduced	308,950	-16,559,938	$763,106	−98.0%	0.01%
IBCP	Independent Bank Corp /Mi/ Financial Services	Reduced	23,538	-700	$765,691	+2.0%	0.01%
DIN	Dine Brands Global, Inc. Consumer Cyclical	NEW	23,950	NEW	$769,753	NEW	0.01%
SWBI	Smith & Wesson Brands, Inc. Industrials	NEW	84,090	NEW	$829,968	NEW	0.01%
HOPE	Hope Bancorp Inc Financial Services	Reduced	79,024	-540	$866,103	+1.1%	0.01%
MTW	Manitowoc Co Inc Industrials	Reduced	73,190	-2,700	$877,548	+15.5%	0.01%
BHB	Bar Harbor Bankshares Financial Services	Reduced	28,458	-1,200	$883,620	−2.2%	0.01%
BZH	Beazer Homes USA Inc Consumer Cyclical	NEW	44,310	NEW	$898,163	NEW	0.01%
SMBK	Smartfinancial Inc. Financial Services	Reduced	24,559	-800	$908,437	+0.3%	0.01%
JOUT	Johnson Outdoors Inc Consumer Cyclical	Reduced	22,375	-800	$949,818	+1.5%	0.01%
MHK	Mohawk Industries Inc Consumer Cyclical	Reduced	9,111	-38	$995,832	−15.6%	0.01%
FMNB	Farmers National Banc Corp /Oh/ Financial Services	Reduced	75,755	-3,100	$1,009,056	−11.2%	0.01%
OBK	Origin Bancorp, Inc. Financial Services	Reduced	26,901	-900	$1,011,746	+5.4%	0.01%
VLGEA	Village Super Market Inc Consumer Defensive	Reduced	28,607	-1,100	$1,012,687	−8.8%	0.01%
STEL	Stellar Bancorp, Inc. Financial Services	Reduced	33,871	-1,022	$1,047,968	−1.0%	0.01%
BFST	Business First Bancshares, Inc. Financial Services	Reduced	40,361	-1,500	$1,055,036	+6.7%	0.01%
SIGA	Siga Technologies Inc Healthcare	Reduced	175,030	-6,600	$1,069,433	−35.7%	0.01%
CYRX	Cryoport, Inc. Industrials	NEW	114,390	NEW	$1,098,144	NEW	0.01%
VREX	Varex Imaging Corp Healthcare	NEW	94,940	NEW	$1,106,051	NEW	0.01%
DGICA	Donegal Group Inc Financial Services	Reduced	55,900	-2,000	$1,116,882	−0.5%	0.01%
CVLG	Covenant Logistics Group, Inc. Industrials	Reduced	50,838	-1,600	$1,120,469	−1.4%	0.01%
CLNE	Clean Energy Fuels Corp. Energy	Reduced	536,750	-19,500	$1,127,175	−21.5%	0.01%
BCH	Bank Of Chile Financial Services	Reduced	29,731	-400	$1,129,778	+23.7%	0.01%
KOP	Koppers Holdings Inc. Basic Materials	Added	44,880	+4,020	$1,215,350	+6.2%	0.01%
HZO	Marinemax Inc Consumer Cyclical	Reduced	52,240	-2,100	$1,265,775	−8.0%	0.01%
BANR	Banner Corp Financial Services	NEW	20,607	NEW	$1,291,234	NEW	0.01%
FBNC	First Bancorp /Nc/ Financial Services	Reduced	26,156	-800	$1,328,463	−6.8%	0.01%
SWKS	Skyworks Solutions, Inc. Technology	Reduced	21,477	-254	$1,361,856	−18.6%	0.01%
SMBC	Southern Missouri Bancorp, Inc. Financial Services	Reduced	23,232	-800	$1,373,475	+8.7%	0.01%
TRST	Trustco Bank Corp N Y Financial Services	Reduced	33,722	-1,200	$1,393,730	+9.9%	0.01%
TRMK	Trustmark Corp Financial Services	Added	36,029	+5,442	$1,403,329	+15.9%	0.01%
ACIC	AMERICAN COASTAL INSURANCE Corp Financial Services	Added	111,470	+13,120	$1,407,866	+25.7%	0.01%
TITN	Titan Machinery Inc. Industrials	Reduced	93,930	-3,500	$1,412,707	−13.4%	0.01%
FRME	First Merchants Corp Financial Services	Reduced	37,695	-1,178	$1,412,808	−3.6%	0.01%
SJM	J M SMUCKER Co Consumer Defensive	Reduced	14,708	-300	$1,438,589	−11.7%	0.01%
HRL	Hormel Foods Corp /De/ Consumer Defensive	Reduced	61,176	-1,384	$1,449,871	−6.3%	0.01%
ETD	Ethan Allen Interiors Inc Consumer Cyclical	Reduced	64,554	-2,400	$1,474,413	−25.3%	0.01%
IPI	Intrepid Potash, Inc. Basic Materials	Reduced	53,690	-2,100	$1,488,823	−12.7%	0.01%
GSBC	Great Southern Bancorp, Inc. Financial Services	Reduced	24,384	-800	$1,501,079	−2.7%	0.01%
HRTG	Heritage Insurance Holdings, Inc. Financial Services	Reduced	51,500	-2,000	$1,506,890	+11.9%	0.01%
BOC	BOSTON OMAHA Corp Industrials	Reduced	124,790	-4,900	$1,543,652	−9.0%	0.01%
SHEN	Shenandoah Telecommunications Co/Va/ Communication Services	Reduced	134,050	-5,100	$1,549,618	−17.0%	0.01%
HTB	HomeTrust Bancshares, Inc. Financial Services	Reduced	36,338	-1,100	$1,560,353	+1.8%	0.01%
GPRE	Green Plains Inc. Basic Materials	Added	159,390	+125,860	$1,562,022	+430.0%	0.01%
WSBC	Wesbanco Inc Financial Services	Reduced	47,155	-1,562	$1,567,432	+0.8%	0.01%
MBWM	Mercantile Bank Corp Financial Services	Reduced	33,147	-1,300	$1,594,370	+2.9%	0.01%