Focused Investors
LOS ANGELES, CAfiles as Focused Investors LLC
$3.0bn in 23 US stocks at the end of 30 June 2026. The top 10 are 62.0% of the money. It changed about 11.0% of the portfolio this quarter.
Value
$3.0bn
Stocks
23
Top 10 share
62.0%
Turnover
11.0%
What changed this quarter
New
Bought for the first time this quarter.
- Marsh & McLennan CompaniesMRSH2.3% of the fund
- AccentureACN2.1% of the fund
Added
Bought more of a stock they already held.
None this quarter.
Cut
Sold some of their stake.
- Goldman Sachs GroupGS8.3% of the fund-10%
- Morgan StanleyMS7.8% of the fund-10%
- Johnson & JohnsonJNJ7.3% of the fund-9%
- UnitedHealth GroupUNH6.2% of the fund-9%
- Elevance HealthELV6.0% of the fund-9%
- Cigna GroupCI5.8% of the fund-10%
- MicrosoftMSFT5.5% of the fund-10%
- Walt DisneyDIS5.4% of the fund-10%
- American ExpressAXP5.2% of the fund-9%
- FedExFDX4.5% of the fund-9%
- PepsiCoPEP4.4% of the fund-9%
- TJX CompaniesTJX4.2% of the fund-10%
- McDonald'sMCD3.4% of the fund-10%
- Global PaymentsGPN3.2% of the fund-9%
- Lowe's CompaniesLOW2.9% of the fund-10%
- L3harris TechnologiesLHX2.8% of the fund-10%
- OracleORCL2.8% of the fund-10%
- Northrop GrummanNOC2.8% of the fund-10%
- Lockheed MartinLMT2.5% of the fund-9%
- CenteneCNC2.4% of the fund-9%
- Home DepotHD2.2% of the fund-9%
Sold out
Sold their entire stake.
- RTXRTX-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Goldman Sachs GroupGS | 8.3% | $247m | 244,000 | -10% |
| Morgan StanleyMS | 7.8% | $231m | 1,104,050 | -10% |
| Johnson & JohnsonJNJ | 7.3% | $215m | 847,800 | -9% |
| UnitedHealth GroupUNH | 6.2% | $184m | 443,500 | -9% |
| Elevance HealthELV | 6.0% | $179m | 461,600 | -9% |
| Cigna GroupCI | 5.8% | $173m | 625,900 | -10% |
| MicrosoftMSFT | 5.5% | $162m | 433,700 | -10% |
| Walt DisneyDIS | 5.4% | $160m | 1,664,650 | -10% |
| American ExpressAXP | 5.2% | $154m | 455,650 | -9% |
| FedExFDX | 4.5% | $133m | 425,000 | -9% |
| PepsiCoPEP | 4.4% | $132m | 972,650 | -9% |
| TJX CompaniesTJX | 4.2% | $125m | 825,300 | -10% |
| McDonald'sMCD | 3.4% | $99m | 367,800 | -10% |
| Global PaymentsGPN | 3.2% | $94m | 1,300,800 | -9% |
| Lowe's CompaniesLOW | 2.9% | $86m | 390,950 | -10% |
| L3harris TechnologiesLHX | 2.8% | $83m | 284,150 | -10% |
| OracleORCL | 2.8% | $82m | 557,750 | -10% |
| Northrop GrummanNOC | 2.8% | $82m | 160,300 | -10% |
| Lockheed MartinLMT | 2.5% | $75m | 147,900 | -9% |
| CenteneCNC | 2.4% | $72m | 1,117,750 | -9% |
| Marsh & McLennan CompaniesMRSH | 2.3% | $67m | 404,300 | New |
| Home DepotHD | 2.2% | $66m | 188,500 | -9% |
| AccentureACN | 2.1% | $61m | 492,400 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 3.1% since 30 June 2025.
Where the money is
Health care27.8%
Financial services26.8%
Retail & consumer12.7%
Industrials12.6%
Technology10.3%
Media & telecom5.4%
Everyday goods4.4%
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.