Brandywine Global Investment Management
Philadelphia, PAfiles as Brandywine Global Investment Management, LLC
$14.7bn in 594 US stocks at the end of 31 December 2025. The top 10 are 20.5% of the money. It changed about 12.7% of the portfolio this quarter.
Value
$14.7bn
Stocks
594
Top 10 share
20.5%
Turnover
12.7%
What changed this quarter
New
Bought for the first time this quarter.
- Smurfit WestrockSW0.4% of the fund
- DiageoDEO0.3% of the fund
- Illinois Tool WorksITW0.2% of the fund
- Diamondback EnergyFANG0.2% of the fund
- Cheniere EnergyLNG0.2% of the fund
- O-I GlassOI0.2% of the fund
- TapestryTPR0.1% of the fund
- Regeneron PharmaceuticalsREGN0.1% of the fund
- HalliburtonHAL0.1% of the fund
- BlockXYZ<0.1% of the fund
- Meritage HomesMTH<0.1% of the fund
- AlcoaAA<0.1% of the fund
- Peabody EnergyBTU<0.1% of the fund
- Thor IndustriesTHO<0.1% of the fund
- PVHPVH<0.1% of the fund
- HPHPQ<0.1% of the fund
- ZoetisZTS<0.1% of the fund
- Marathon PetroleumMPC<0.1% of the fund
- Oceaneering InternationalOII<0.1% of the fund
- KohlsKSS<0.1% of the fund
- SeadrillSDRL<0.1% of the fund
- Best BUYBBY<0.1% of the fund
- CoreCivicCXW<0.1% of the fund
- RPM InternationalRPM<0.1% of the fund
- WEBTOON EntertainmentWBTN<0.1% of the fund
Added
Bought more of a stock they already held.
- AT&TT2.1% of the fund+4%
- ExxonMobil HoldingsXOM1.6% of the fund+21%
- Goldman Sachs GroupGS1.5% of the fund+49%
- KrogerKR1.4% of the fund+10%
- PepsiCoPEP1.4% of the fund+42%
- Walt DisneyDIS1.3% of the fund+3%
- Verizon CommunicationsVZ1.2% of the fund+4%
- FedExFDX1.1% of the fund+69%
- MedtronicMDT1.0% of the fund+4%
- Global PaymentsGPN1.0% of the fund+14%
- AmgenAMGN1.0% of the fund+16%
- M&T BankMTB0.8% of the fund+24%
- SalesforceCRM0.7% of the fund+14%
- Willis Towers WatsonWTW0.7% of the fund+13%
- Gilead SciencesGILD0.7% of the fund+23%
- ON SemiconductorON0.7% of the fund+18%
- MerckMRK0.6% of the fund+943%
- EOG ResourcesEOG0.6% of the fund+4%
- Kimberly-ClarkKMB0.6% of the fund+122%
- AdobeADBE0.6% of the fund+21%
- Union PacificUNP0.6% of the fund+39%
- Honeywell InternationalHON0.6% of the fund+23%
- Cigna GroupCI0.6% of the fund+61%
- MetLifeMET0.6% of the fund+3%
- HumanaHUM0.5% of the fund+32%
Cut
Sold some of their stake.
- JPMorgan ChaseJPM3.0% of the fund-5%
- Bank of AmericaBAC2.2% of the fund-2%
- CitigroupC2.1% of the fund-3%
- AlphabetGOOGL1.5% of the fund-2%
- CVS HealthCVS1.5% of the fund-13%
- ComcastCMCSA1.4% of the fund-17%
- Dollar GeneralDG1.1% of the fund-13%
- Delta Air LinesDAL0.9% of the fund-6%
- AerCap HoldingsAER0.9% of the fund-25%
- General MotorsGM0.8% of the fund-51%
- International Business MachinesIBM0.7% of the fund-5%
- HCA HealthcareHCA0.6% of the fund-2%
- Abercrombie & FitchANF0.5% of the fund-16%
- Cisco SystemsCSCO0.4% of the fund-63%
- Annaly Capital ManagementNLY0.4% of the fund-14%
- ShellSHEL0.4% of the fund-3%
- GSKGSK0.4% of the fund-2%
- CSXCSX0.3% of the fund-27%
- NRG EnergyNRG0.3% of the fund-27%
- SLB LimitedSLB0.3% of the fund-21%
- Valero EnergyVLO0.2% of the fund-2%
- Genmab A/SGMAB0.2% of the fund-27%
- WhirlpoolWHR0.2% of the fund-20%
- Southern CompanySO0.2% of the fund-2%
- WalmartWMT0.1% of the fund-50%
Sold out
Sold their entire stake.
- AbbVieABBV-100%
- DeereDE-100%
- CRH PublicCRH-100%
- Norfolk SouthernNSC-100%
- Apollo Global ManagementAPO-100%
- OrganonOGN-100%
- MGM Resorts InternationalMGM-100%
- Applied MaterialsAMAT-100%
- Cardinal HealthCAH-100%
- Sealed Air Corp New-100%
- Targa ResourcesTRGP-100%
- Cleveland-CliffsCLF-100%
- KenvueKVUE-100%
- PennyMac Financial ServicesPFSI-100%
- Carlyle GroupCG-100%
- Huntington BancsharesHBAN-100%
- Expeditors International of WashingtonEXPD-100%
- Warrior MET CoalHCC-100%
- CorpayCPAY-100%
- Marriott Vacations WorldwideVAC-100%
- Molson Coors BeverageTAP-100%
- Brighthouse FinancialBHF-100%
- AptivAPTV-100%
- Energizer HoldingsENR-100%
- ConcentrixCNXC-100%
Holdings
- Canadian Natural ResourcesCNQ
- Share
- 0.5%
- Value
- $77m
- Shares
- 2,285,276
Held
- Sanofi SASNY
- Share
- 0.4%
- Value
- $58m
- Shares
- 1,200,571
Held
- ShellSHEL
- Share
- 0.4%
- Value
- $57m
- Shares
- 781,017
-3%
- GSKGSK
- Share
- 0.4%
- Value
- $55m
- Shares
- 1,116,087
-2%
- Magna InternationalMGA
- Share
- 0.4%
- Value
- $52m
- Shares
- 982,886
Held
- Ishares TRIWD
- Share
- 0.3%
- Value
- $51m
- Shares
- 242,573
+21%
- BaiduBIDU
- Share
- 0.3%
- Value
- $50m
- Shares
- 384,282
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| JPMorgan ChaseJPM | 3.0% | $443m | 1,374,890 | -5% |
| Johnson & JohnsonJNJ | 2.7% | $404m | 1,951,088 | Held |
| Bank of AmericaBAC | 2.2% | $328m | 5,972,520 | -2% |
| Wells Fargo & CompanyWFC | 2.2% | $319m | 3,422,909 | Held |
| CitigroupC | 2.1% | $315m | 2,696,496 | -3% |
| AT&TT | 2.1% | $304m | 12,229,088 | +4% |
| ExxonMobil HoldingsXOM | 1.6% | $242m | 2,009,194 | +21% |
| Goldman Sachs GroupGS | 1.5% | $226m | 257,578 | +49% |
| AlphabetGOOGL | 1.5% | $221m | 704,629 | -2% |
| CVS HealthCVS | 1.5% | $216m | 2,723,074 | -13% |
| KrogerKR | 1.4% | $210m | 3,357,243 | +10% |
| ComcastCMCSA | 1.4% | $208m | 6,975,368 | -17% |
| PepsiCoPEP | 1.4% | $200m | 1,391,861 | +42% |
| Walt DisneyDIS | 1.3% | $195m | 1,717,034 | +3% |
| Verizon CommunicationsVZ | 1.2% | $176m | 4,309,428 | +4% |
| Dollar GeneralDG | 1.1% | $166m | 1,254,014 | -13% |
| FedExFDX | 1.1% | $160m | 553,129 | +69% |
| Morgan StanleyMS | 1.1% | $156m | 877,171 | Held |
| MedtronicMDT | 1.0% | $152m | 1,584,743 | +4% |
| Global PaymentsGPN | 1.0% | $146m | 1,888,747 | +14% |
| AmgenAMGN | 1.0% | $140m | 427,722 | +16% |
| QualcommQCOM | 0.9% | $129m | 756,299 | Held |
| Delta Air LinesDAL | 0.9% | $128m | 1,838,051 | -6% |
| AerCap HoldingsAER | 0.9% | $126m | 873,309 | -25% |
| M&T BankMTB | 0.8% | $118m | 584,386 | +24% |
| General MotorsGM | 0.8% | $115m | 1,412,993 | -51% |
| SalesforceCRM | 0.7% | $110m | 415,202 | +14% |
| Lockheed MartinLMT | 0.7% | $109m | 225,122 | Held |
| International Business MachinesIBM | 0.7% | $108m | 364,334 | -5% |
| Willis Towers WatsonWTW | 0.7% | $108m | 328,291 | +13% |
| Gilead SciencesGILD | 0.7% | $106m | 861,496 | +23% |
| Lowe's CompaniesLOW | 0.7% | $101m | 417,673 | Held |
| ON SemiconductorON | 0.7% | $100m | 1,847,377 | +18% |
| MerckMRK | 0.6% | $95m | 905,795 | +943% |
| EOG ResourcesEOG | 0.6% | $94m | 892,095 | +4% |
| Kimberly-ClarkKMB | 0.6% | $93m | 922,106 | +122% |
| AdobeADBE | 0.6% | $92m | 262,757 | +21% |
| T-Mobile USTMUS | 0.6% | $89m | 440,280 | Held |
| HCA HealthcareHCA | 0.6% | $89m | 191,451 | -2% |
| Union PacificUNP | 0.6% | $89m | 384,313 | +39% |
| Honeywell InternationalHON | 0.6% | $88m | 452,541 | +23% |
| Cigna GroupCI | 0.6% | $83m | 301,723 | +61% |
| MetLifeMET | 0.6% | $83m | 1,046,639 | +3% |
| HumanaHUM | 0.5% | $80m | 313,859 | +32% |
| Abercrombie & FitchANF | 0.5% | $80m | 637,848 | -16% |
| Canadian Natural ResourcesCNQ | 0.5% | $77m | 2,285,276 | Held |
| SempraSRE | 0.5% | $77m | 869,717 | Held |
| eBayEBAY | 0.5% | $75m | 866,383 | Held |
| ChubbCB | 0.5% | $72m | 231,747 | Held |
| IconICLR | 0.5% | $72m | 399,813 | +6% |
| NewmontNEM | 0.5% | $71m | 713,007 | Held |
| PfizerPFE | 0.5% | $71m | 2,857,645 | +78% |
| Procter & GamblePG | 0.5% | $69m | 481,295 | +99% |
| ViatrisVTRS | 0.5% | $68m | 5,423,976 | +22% |
| Altria GroupMO | 0.5% | $67m | 1,165,851 | Held |
| Archer-Daniels-MidlandADM | 0.5% | $67m | 1,161,285 | Held |
| Xcel EnergyXEL | 0.5% | $67m | 902,437 | Held |
| PayPal HoldingsPYPL | 0.4% | $65m | 1,118,334 | Held |
| ConocoPhillipsCOP | 0.4% | $65m | 693,506 | Held |
| AllstateALL | 0.4% | $64m | 306,489 | +21% |
| Edison InternationalEIX | 0.4% | $63m | 1,043,859 | Held |
| Cisco SystemsCSCO | 0.4% | $62m | 810,693 | -63% |
| Annaly Capital ManagementNLY | 0.4% | $62m | 2,771,945 | -14% |
| Royalty PharmaRPRX | 0.4% | $61m | 1,579,252 | +4% |
| SyscoSYY | 0.4% | $60m | 813,340 | Held |
| FirstenergyFE | 0.4% | $60m | 1,329,624 | Held |
| 3MMMM | 0.4% | $59m | 367,504 | Held |
| Travelers CompaniesTRV | 0.4% | $58m | 200,865 | Held |
| Sanofi SASNY | 0.4% | $58m | 1,200,571 | Held |
| ShellSHEL | 0.4% | $57m | 781,017 | -3% |
| ProgressivePGR | 0.4% | $57m | 250,851 | Held |
| Horton D RDHI | 0.4% | $56m | 391,512 | +28% |
| Biomarin PharmaceuticalBMRN | 0.4% | $56m | 945,847 | +4% |
| Host Hotels & ResortsHST | 0.4% | $56m | 3,163,450 | Held |
| Eversource EnergyES | 0.4% | $56m | 829,120 | +5% |
| VontierVNT | 0.4% | $56m | 1,495,686 | +8% |
| Healthpeak PropertiesDOC | 0.4% | $55m | 3,446,910 | Held |
| GSKGSK | 0.4% | $55m | 1,116,087 | -2% |
| Regal RexnordRRX | 0.4% | $54m | 387,424 | Held |
| Smurfit WestrockSW | 0.4% | $54m | 1,404,000 | New |
| General DynamicsGD | 0.4% | $54m | 159,113 | Held |
| Magna InternationalMGA | 0.4% | $52m | 982,886 | Held |
| American International GroupAIG | 0.4% | $52m | 611,195 | +36% |
| Ishares TRIWD | 0.3% | $51m | 242,573 | +21% |
| MiddlebyMIDD | 0.3% | $50m | 337,939 | +805% |
| BaiduBIDU | 0.3% | $50m | 384,282 | Held |
| Duke EnergyDUK | 0.3% | $50m | 426,984 | Held |
| Hartford Insurance GroupHIG | 0.3% | $48m | 351,366 | +26% |
| Conagra BrandsCAG | 0.3% | $47m | 2,734,874 | Held |
| CelaneseCE | 0.3% | $47m | 1,119,658 | Held |
| DiageoDEO | 0.3% | $47m | 540,879 | New |
| Estee Lauder CompaniesEL | 0.3% | $46m | 439,378 | Held |
| CNH IndustrialCNH | 0.3% | $46m | 4,961,457 | +186% |
| Bank of New York MellonBNY | 0.3% | $46m | 392,700 | Held |
| CencoraCOR | 0.3% | $45m | 133,773 | Held |
| Tyson FoodsTSN | 0.3% | $44m | 757,626 | Held |
| Synchrony FinancialSYF | 0.3% | $44m | 523,715 | +15% |
| CSXCSX | 0.3% | $44m | 1,202,015 | -27% |
| NRG EnergyNRG | 0.3% | $43m | 268,251 | -27% |
| Kinder MorganKMI | 0.3% | $43m | 1,553,215 | Held |
Showing the largest 100 of 594.
Over time and by industry
Value over time
Jun '25
Dec '25
Value is up 4.9% since 30 June 2025.
Where the money is
Financial services26.3%
Health care13.4%
Industrials9.3%
Everyday goods9.0%
Media & telecom8.6%
Retail & consumer7.7%
Technology7.3%
Energy7.0%
Utilities4.2%
Materials3.3%
Real estate1.2%
Other2.5%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.