Q2 2025 Holdings
Filed 2025-08-14 | 33 holdings | $5.0B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Simon Ppty Group Inc New(SPG) | COM | 828806109 | $331.5M | 2,062,019 | 6.6% |
| American Express Co(AXP) | COM | 025816109 | $282.2M | 884,732 | 5.7% |
| Macerich Co(MAC) | COM | 554382101 | $260.1M | 16,074,002 | 5.2% |
| Merck & Co Inc(MRK) | COM | 58933Y105 | $258.6M | 3,267,318 | 5.2% |
| Amgen Inc(AMGN) | COM | 031162100 | $257.7M | 922,968 | 5.2% |
| D R Horton Inc(DHI) | COM | 23331A109 | $255.2M | 1,979,845 | 5.1% |
| Cenovus Energy Inc(CVE) | COM | 15135U109 | $239.0M | 17,552,075 | 4.8% |
| Lennar Corp(LEN) | CL A | 526057104 | $232.0M | 2,097,906 | 4.6% |
| Ebay Inc.(EBAY) | COM | 278642103 | $218.3M | 2,932,396 | 4.4% |
| NVR Inc(NVR) | COM | 62944T105 | $210.4M | 28,486 | 4.2% |
| APA Corporation(APA) | COM | 03743Q108 | $200.1M | 10,941,229 | 4.0% |
| Target Corp(TGT) | COM | 87612E106 | $194.6M | 1,973,113 | 3.9% |
| JPMorgan Chase & Co.(JPM) | COM | 46625H100 | $187.9M | 648,003 | 3.8% |
| Bank America Corp(BAC) | COM | 060505104 | $172.7M | 3,648,771 | 3.5% |
| Occidental Pete Corp(OXY) | COM | 674599105 | $171.1M | 4,071,705 | 3.4% |
| Conocophillips(COP) | COM | 20825C104 | $169.4M | 1,887,445 | 3.4% |
| Ovintiv Inc(OVV) | COM | 69047Q102 | $165.7M | 4,355,580 | 3.3% |
| U Haul Holding Company(UHAL/B) | COM SER N | 023586506 | $154.5M | 2,842,383 | 3.1% |
| Home Depot Inc(HD) | COM | 437076102 | $149.0M | 406,273 | 3.0% |
| Diamondback Energy Inc(FANG) | COM | 25278X109 | $144.8M | 1,053,675 | 2.9% |
| Qualcomm Inc(QCOM) | COM | 747525103 | $114.9M | 721,679 | 2.3% |
| Western Alliance Bancorp(WAL) | COM | 957638109 | $111.9M | 1,435,247 | 2.2% |
| Credit Accep Corp Mich(CACC) | COM | 225310101 | $110.5M | 216,811 | 2.2% |
| Unitedhealth Group Inc(UNH) | COM | 91324P102 | $78.8M | 252,438 | 1.6% |
| Ulta Beauty Inc(ULTA) | COM | 90384S303 | $77.3M | 165,158 | 1.5% |
| Devon Energy Corp New(DVN) | COM | 25179M103 | $76.4M | 2,400,686 | 1.5% |
| M & T BK Corp(MTB) | COM | 55261F104 | $75.4M | 388,621 | 1.5% |
| Fifth Third Bancorp(FITB) | COM | 316773100 | $72.0M | 1,750,355 | 1.4% |
| Frontline PLC(FRO) | COM | M46528101 | $9.8M | 590,266 | 0.2% |
| West Fraser Timber Co LTD(WFG) | COM | 952845105 | $8.8M | 120,378 | 0.2% |
| Occidental Pete Corp(OXY/WS) | *W EXP 08/03/202 | 674599162 | $3.2M | 153,969 | 0.1% |
| Ishares TR(IWD) | RUS 1000 VAL ETF | 464287598 | $679.1K | 3,496 | 0.0% |
| Vanguard Index FDS(VTV) | VALUE ETF | 922908744 | $270.4K | 1,530 | 0.0% |