Brandywine Global Investment Management, LLC

CIK

829108

Location

Philadelphia, PA

Portfolio Value

Small $348,193,107

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

24 positions · $348,193,107 total · Basic Materials only · as of Dec 31, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NEM	NEWMONT Corp /DE/ Basic Materials	Reduced	713,007	-13,343	$71,193,748	+16.3%	20.45%
CE	Celanese Corp Basic Materials	Reduced	1,119,658	-3,275	$47,339,140	+0.2%	13.60%
PPG	Ppg Industries Inc Basic Materials	Added	341,007	+24,968	$34,939,577	+5.2%	10.03%
CTVA	Corteva, Inc. Basic Materials	Reduced	474,136	-8,745	$31,781,336	−2.7%	9.13%
CF	CF Industries Holdings, Inc. Basic Materials	Reduced	350,077	-3,820	$27,074,955	−14.7%	7.78%
NUE	Nucor Corp Basic Materials	Reduced	159,673	-2,819	$26,044,263	+18.3%	7.48%
STLD	Steel Dynamics Inc Basic Materials	Reduced	120,300	-46,167	$20,384,835	−12.2%	5.85%
MLM	Martin Marietta Materials Inc Basic Materials	Reduced	26,839	-231	$16,711,571	−2.1%	4.80%
APD	Air Products & Chemicals, Inc. Basic Materials	Reduced	63,048	-541	$15,574,116	−10.2%	4.47%
ALB	Albemarle Corp Basic Materials	Added	81,595	+36,046	$11,540,796	+212.5%	3.31%
RS	Reliance, Inc. Basic Materials	Added	36,655	+1,268	$10,588,529	+6.5%	3.04%
AA	Alcoa Corp Basic Materials	NEW	181,296	NEW	$9,634,069	NEW	2.77%
MOS	Mosaic Co Basic Materials	Reduced	205,673	-3,676	$4,954,662	−31.8%	1.42%
RPM	Rpm International Inc/De/ Basic Materials	NEW	41,911	NEW	$4,358,744	NEW	1.25%
NGVT	Ingevity Corp Basic Materials	Reduced	71,792	-2,600	$4,248,650	+3.5%	1.22%
NWPX	NWPX Infrastructure, Inc. Basic Materials	Reduced	39,638	-1,400	$2,476,978	+14.0%	0.71%
LXU	Lsb Industries, Inc. Basic Materials	Reduced	287,280	-10,900	$2,441,880	+3.9%	0.70%
MTUS	Metallus Inc. Basic Materials	Reduced	102,430	-3,700	$1,757,698	+0.2%	0.50%
GPRE	Green Plains Inc. Basic Materials	Added	159,390	+125,860	$1,562,022	+430.0%	0.45%
IPI	Intrepid Potash, Inc. Basic Materials	Reduced	53,690	-2,100	$1,488,823	−12.7%	0.43%
KOP	Koppers Holdings Inc. Basic Materials	Added	44,880	+4,020	$1,215,350	+6.2%	0.35%
FMC	Fmc Corp Basic Materials	Reduced	42,476	-2,238,370	$589,142	−99.2%	0.17%
HDSN	Hudson Technologies Inc /Ny Basic Materials	NEW	22,600	NEW	$154,810	NEW	0.04%
RYAM	Rayonier Advanced Materials Inc. Basic Materials	NEW	23,330	NEW	$137,413	NEW	0.04%