FR
Foundation Resource Management Inc SEC 13F Filing (Q3 2026) — Holdings & Portfolio
Foundation Resource Management IncCIK: 0001179232
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$938.7M
Reporting period: 2026-09-30 · Number of holdings: 56
FOUNDATION RESOURCE MANAGEMENT INC disclosed 56 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $938.7M and a quarterly turnover rate of 14.6%.
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Personality snowflake
- Concentration
- 13.39
- Portfolio Stability
- 14.6
- Momentum
- 100
- Sector conviction
- 48.29
- Diversification
- 100
- Sizing Uniformity
- 90.56
Foundation Resource Management Inc's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 30 equally-sized positions, well below its 56 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.94), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd HPQ
-1.8% $9.7M
Trim BLDR
-9.3% -$5.4M
Trim PKE
-2.1% -$4.6M
Add NEM
-1.6% $10.1M
Trim BRK-B
-1.8% -$1.1M
Add 30233Q108
-0.6% $10.5M
Holdings Map
New buyAddUnchangedTrim
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Stock-Other | 7.25% | +0.56% | -0.62% | ||
| 2 | NEM | Newmont CORP | Stock-Materials | 6.04% | +0.61% | -1.55% | |
| 3 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 5.90% | -0.25% | -5.36% | |
| 4 | CVX | Chevron CORP | Stock-Energy | 5.09% | +0.53% | -0.90% | |
| 5 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 4.97% | -0.58% | -1.79% | |
| 6 | COP | Conocophillips | Stock-Energy | 3.75% | +0.28% | -1.94% | |
| 7 | HPQ | Hp Inc | Stock-Tech | 3.63% | +0.80% | -1.79% | |
| 8 | DG | Dollar General CORP | Stock-Consumer Staples | 3.62% | -0.21% | -0.70% | |
| 9 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 3.41% | +0.24% | -0.67% | |
| 10 | ADBE | Adobe Inc | Stock-Tech | 3.40% | +0.21% | -0.74% | |
| 11 | VZ | Verizon Communications Inc | Stock-Comm Services | 3.13% | -0.04% | -0.46% | |
| 12 | MRK | Merck & Co. Inc. | Stock-Healthcare | 3.13% | +0.10% | -0.34% | |
| 13 | PFE | Pfizer Inc | Stock-Healthcare | 2.85% | +0.23% | +0.31% | |
| 14 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 2.48% | +0.53% | +56.98% | |
| 15 | FHI | Federated Hermes Inc | Stock-Financials | 2.20% | -0.24% | -3.66% | |
| 16 | ABEV | Ambev Sa-adr | Stock-Consumer Staples | 2.19% | -0.40% | -0.52% | |
| 17 | DEO | Diageo Plc-sponsored Adr | Stock-Consumer Staples | 2.18% | -0.08% | -1.07% | |
| 18 | PBT | Permian Basin Royalty Trust | Stock-Other | 2.00% | +0.18% | -4.90% | |
| 19 | LKQ | Lkq CORP | Stock-Consumer Disc | 1.99% | +0.14% | +35.44% | |
| 20 | BEN | Franklin Resources Inc | Stock-Financials | 1.96% | -0.30% | -1.96% | |
| 21 | CVE | Cenovus Energy Inc | Stock-Energy | 1.67% | +0.21% | -0.56% | |
| 22 | INTC | Intel CORP | Stock-Tech | 1.67% | -0.50% | -2.74% | |
| 23 | B | Barrick Mining CORP | Stock-Materials | 1.64% | -0.01% | -2.17% | |
| 24 | PSX | Phillips 66 | Stock-Energy | 1.64% | +0.43% | -1.88% | |
| 25 | MOS | Mosaic Co/the | Stock-Materials | 1.63% | -0.08% | +1.46% | |
| 26 | TEN | Tsakos Energy Navigation Limited | Stock-Other | 1.59% | +0.21% | -6.07% | |
| 27 | GILD | Gilead Sciences Inc | Stock-Healthcare | 1.56% | +0.06% | -3.69% | |
| 28 | PKE | Park Aerospace CORP | Stock-Other | 1.56% | -0.67% | -2.07% | |
| 29 | FCX | Freeport-mcmoran Inc | Stock-Materials | 1.49% | -0.02% | -3.17% | |
| 30 | NTR | Nutrien LTD | Stock-Materials | 1.42% | +0.05% | +1.44% | |
| 31 | L | Loews CORP | Stock-Financials | 1.36% | -0.29% | -2.78% | |
| 32 | APA | Apa CORP | Stock-Energy | 1.23% | +0.23% | +5.47% | |
| 33 | SNY | Sanofi-adr | Stock-Healthcare | 1.20% | -0.16% | -0.29% | |
| 34 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 1.16% | +0.01% | +1.81% | |
| 35 | CNH | CNH Industrial N.V. | Stock-Industrials | 0.93% | +0.04% | -0.80% | |
| 36 | TRC | Tejon Ranch Co | Stock-Other | 0.89% | -0.23% | +0.15% | |
| 37 | KHC | Kraft Heinz Co/the | Stock-Consumer Staples | 0.79% | -0.11% | +0.21% | |
| 38 | BLDR | Builders Firstsource Inc | Stock-Industrials | 0.78% | -0.70% | -9.31% | |
| 39 | DVN | Devon Energy CORP | Stock-Energy | 0.78% | +0.05% | +4.05% | |
| 40 | CPB | THE Campbell's Company | Stock-Consumer Staples | 0.70% | -0.24% | -8.34% | |
| 41 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 0.64% | -0.35% | -10.50% | |
| 42 | OVV | Ovintiv Inc | Stock-Energy | 0.64% | — | -0.32% | |
| 43 | CCJ | Cameco CORP | Stock-Energy | 0.50% | -0.16% | -2.74% | |
| 44 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.40% | -0.04% | — | |
| 45 | MPC | Marathon Petroleum CORP | Stock-Energy | 0.20% | +0.05% | -3.04% | |
| 46 | WMT | Walmart Inc | Stock-Consumer Staples | 0.20% | -0.04% | — | |
| 47 | IMO | Imperial Oil LTD | Stock-Energy | 0.09% | — | — | |
| 48 | EAF | Graftech International LTD | Stock-Other | 0.09% | +0.02% | -3.16% | |
| 49 | TRV | Travelers Cos Inc/the | Stock-Financials | 0.09% | — | — | |
| 50 | RIG | Transocean Ltd. | Stock-Energy | 0.08% | -0.02% | -18.17% |
1–50 of 56
Portfolio Performance
Performance for Q4 2026
+6.3%
Performance Last 4 Quarters
+37.1%
Based on 87% of reported portfolio value with available pricing
- Stdev
- +15.2%
- Beta
- +0.41
- Alpha
- +12.8%
- Max Drawdown
- -8.3%
- Annualized Perf
- +23%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.95
- Stutzer
- +0.42
- Treynor
- +0.53
- Sterling
- +1.47
- Calmar
- +2.78
- Information Ratio
- -0.02
- Tracking Error
- +16.1%
- Stdev Down
- +7.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +57.5%
- Worst 12 Months
- -0.2%
- Efficiency Ratio
- +0.61
- Sharpe
- +1.45
- Stdev Sectors
- +7.4%
- Skewness
- -0.03
- Kurtosis
- -0.31
- Upside Potential
- +4.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 56 | $938.7M | 15 | ||
| 2026 Q2 | 56 | $859.7M | 29 | ||
| 2026 Q1 | 55 | $888.5M | 23 | ||
| 2025 Q4 | 52 | $747.5M | 12 | ||
| 2025 Q3 | 51 | $696.0M | 28 | ||
| 2025 Q2 | 50 | $646.7M | 0 | ||
| 2025 Q1 | 50 | $634.4M | 100 | ||
| 2024 Q4 | 52 | $598.7M | 0 | ||
| 2024 Q3 | 52 | $646.9M | 0 | ||
| 2024 Q2 | 52 | $625.9M | 0 | ||
| 2024 Q1 | 52 | $636.6M | 0 | ||
| 2023 Q4 | 52 | $627.8M | 0 | ||
| 2023 Q3 | 52 | $602.4M | 0 | ||
| 2023 Q2 | 51 | $600.5M | 0 | ||
| 2023 Q1 | 52 | $603.8M | 0 | ||
| 2022 Q4 | 53 | $604.3M | 0 | ||
| 2022 Q3 | 51 | $526.0M | 0 | ||
| 2022 Q2 | 52 | $560.9M | 0 | ||
| 2022 Q1 | 52 | $648.1M | 0 | ||
| 2021 Q4 | 51 | $514.2M | 0 | ||
| 2021 Q3 | 50 | $443.4M | 0 | ||
| 2021 Q2 | 50 | $445.5M | 97 | ||
| 2021 Q1 | 51 | $420.2M | 32 | ||
| 2020 Q4 | 53 | $383.3M | 21 | ||
| 2020 Q3 | 52 | $327.7M | 18 | ||
| 2020 Q2 | 54 | $325.4M | 17 | ||
| 2020 Q1 | 51 | $280.2M | 55 | ||
| 2019 Q4 | 55 | $441.8M | 14 | ||
| 2019 Q3 | 56 | $457.4M | 9 | ||
| 2019 Q2 | 56 | $489.5M | 12 | ||
| 2019 Q1 | 58 | $476.9M | 7 | ||
| 2018 Q4 | 55 | $463.0M | 19 | ||
| 2018 Q3 | 60 | $517.4M | 12 | ||
| 2018 Q2 | 57 | $515.8M | 19 | ||
| 2018 Q1 | 58 | $497.4M | 20 | ||
| 2017 Q4 | 60 | $555.7M | 15 | ||
| 2017 Q3 | 60 | $603.7M | 12 | ||
| 2017 Q2 | 60 | $558.0M | 13 | ||
| 2017 Q1 | 57 | $570.4M | 8 | ||
| 2016 Q4 | 59 | $590.8M | 16 | ||
| 2016 Q3 | 60 | $560.2M | 9 | ||
| 2016 Q2 | 58 | $537.2M | 16 | ||
| 2016 Q1 | 58 | $486.7M | 22 | ||
| 2015 Q4 | 60 | $461.2M | 14 | ||
| 2015 Q3 | 59 | $465.1M | 19 | ||
| 2015 Q2 | 62 | $552.3M | 13 | ||
| 2015 Q1 | 65 | $608.5M | 19 | ||
| 2014 Q4 | 68 | $711.7M | 16 | ||
| 2014 Q3 | 66 | $765.5M | 12 | ||
| 2014 Q2 | 67 | $819.5M | 10 | ||
| 2014 Q1 | 68 | $783.1M | 9 | ||
| 2013 Q4 | 70 | $794.9M | 19 | ||
| 2013 Q3 | 65 | $778.8M | 59 | ||
| 2013 Q2 | 70 | $766.4M | 0 |
Holding changes this quarter
Foundation Resource Management Inc's most significant position changes for 2026-09-30: New buy: Murphy Oil CORP (MUR); Sold out: Murphy USA Inc (MUSA); Trim: Hp Inc (HPQ) — shares -1.79%; Trim: Builders Firstsource Inc (BLDR) — shares -9.31%; Trim: Park Aerospace CORP (PKE) — shares -2.07%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HPQ | Hp Inc | +0.8% | -1.79% | Trim |
| 2 | NEM | Newmont CORP | +0.6% | -1.55% | Trim |
| 3 | ✓ | +0.6% | -0.62% | Trim | |
| 4 | CVX | Chevron CORP | +0.5% | -0.90% | Trim |
| 5 | CMCSA | Comcast Corp-class A | +0.5% | +56.98% | Add |
| 6 | PSX | Phillips 66 | +0.4% | -1.88% | Trim |
| 7 | COP | Conocophillips | +0.3% | -1.94% | Trim |
| 8 | AEM | Agnico Eagle Mines LTD | +0.2% | -0.67% | Trim |
| 9 | PFE | Pfizer Inc | +0.2% | +0.31% | Add |
| 10 | APA | Apa CORP | +0.2% | +5.47% | Add |
| 11 | ADBE | Adobe Inc | +0.2% | -0.74% | Trim |
| 12 | CVE | Cenovus Energy Inc | +0.2% | -0.56% | Trim |
| 13 | TEN | Tsakos Energy Navigation Limited | +0.2% | -6.07% | Trim |
| 14 | PBT | Permian Basin Royalty Trust | +0.2% | -4.90% | Trim |
| 15 | LKQ | Lkq CORP | +0.1% | +35.44% | Add |
| 16 | MRK | Merck & Co. Inc. | +0.1% | -0.34% | Trim |
| 17 | GILD | Gilead Sciences Inc | +0.1% | -3.69% | Trim |
| 18 | NTR | Nutrien LTD | +0.1% | +1.44% | Add |
| 19 | DVN | Devon Energy CORP | +0.1% | +4.05% | Add |
| 20 | MPC | Marathon Petroleum CORP | +0.1% | -3.04% | Trim |
| 21 | CNH | CNH Industrial N.V. | 0% | -0.80% | Trim |
| 22 | MUR | Murphy Oil CORP | 0% | NEW | New buy |
| 23 | EAF | Graftech International LTD | 0% | -3.16% | Trim |
| 24 | BMY | Bristol-myers Squibb Co | 0% | +1.81% | Add |
| 25 | OVV | Ovintiv Inc | — | -0.32% | Trim |
| 26 | IMO | Imperial Oil LTD | — | — | Unchanged |
| 27 | TRV | Travelers Cos Inc/the | — | — | Unchanged |
| 28 | SJT | San Juan Basin Royalty Tr | — | — | Unchanged |
| 29 | B | Barrick Mining CORP | 0% | -2.17% | Trim |
| 30 | CB | Chubb Limited | 0% | — | Unchanged |
| 31 | RTX | Rtx CORP | 0% | — | Unchanged |
| 32 | JNJ | Johnson & Johnson | 0% | -2.06% | Trim |
| 33 | FCX | Freeport-mcmoran Inc | 0% | -3.17% | Trim |
| 34 | MUSA | Murphy USA Inc | 0% | EXIT | Sold out |
| 35 | IBM | Intl Business Machines CORP | 0% | -6.41% | Trim |
| 36 | RIG | Transocean Ltd. | 0% | -18.17% | Trim |
| 37 | VZ | Verizon Communications Inc | 0% | -0.46% | Trim |
| 38 | WMT | Walmart Inc | 0% | — | Unchanged |
| 39 | BRK-A | Berkshire Hathaway Inc-cl A | 0% | — | Unchanged |
| 40 | DEO | Diageo Plc-sponsored Adr | -0.1% | -1.07% | Trim |
| 41 | MOS | Mosaic Co/the | -0.1% | +1.46% | Add |
| 42 | KHC | Kraft Heinz Co/the | -0.1% | +0.21% | Add |
| 43 | CCJ | Cameco CORP | -0.2% | -2.74% | Trim |
| 44 | SNY | Sanofi-adr | -0.2% | -0.29% | Trim |
| 45 | DG | Dollar General CORP | -0.2% | -0.70% | Trim |
| 46 | TRC | Tejon Ranch Co | -0.2% | +0.15% | Add |
| 47 | CPB | THE Campbell's Company | -0.2% | -8.34% | Trim |
| 48 | FHI | Federated Hermes Inc | -0.2% | -3.66% | Trim |
| 49 | TECK | Teck Resources Ltd-cls B | -0.3% | -5.36% | Trim |
| 50 | L | Loews CORP | -0.3% | -2.78% | Trim |
1–50 of 57
Filing History
FAQ
What is Foundation Resource Management Inc and what type of investor is it?
Foundation Resource Management Inc is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $938.7M, spread across 56 disclosed positions.
What are Foundation Resource Management Inc's largest equity positions?
Based on the latest 13F filing, Foundation Resource Management Inc's top holdings by market value are:
1. — $68.1M (7.3%)
2. Newmont CORP (NEM) — $56.7M (6.0%)
3. Teck Resources Ltd-cls B (TECK) — $55.4M (5.9%)
4. Chevron CORP (CVX) — $47.8M (5.1%)
5. Berkshire Hathaway Inc-cl B (BRK-B) — $46.7M (5.0%)
What changes did Foundation Resource Management Inc make in its most recent portfolio filing?
In the latest reported quarter, Foundation Resource Management Inc made 50 notable position adjustments: 1 new positions were initiated, 10 existing holdings were added to, 38 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Murphy Oil CORP (MUR); Sold out: Murphy USA Inc (MUSA); Trim: Hp Inc (HPQ) — shares -1.79%; Trim: Builders Firstsource Inc (BLDR) — shares -9.31%; Trim: Park Aerospace CORP (PKE) — shares -2.07%
What sectors does Foundation Resource Management Inc focus on?
Foundation Resource Management Inc is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 26.5%
• Energy: 19.3%
• Health Care: 13.0%
• Consumer Staples: 11.9%
• Information Technology: 10.7%
• Financials: 7.0%
Investment Profile
Foundation Resource Management Inc returned an annualized 23.0% over the trailing 36 months — outperforming the S&P 500 by 12.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.41 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its ADBE position over the past two quarters (+$12.8M, now $31.9M), while trimming INTC over the same stretch (-$4.6M, still holding $15.6M).
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Developer Access
Access Foundation Resource Management Inc's institutional profile programmatically:
REST API
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