CIK: 0001179232
Total reported value
$888.5M
Reporting period: 2026-03-31 · Number of holdings: 55
FOUNDATION RESOURCE MANAGEMENT INC disclosed 55 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $888.5M and a quarterly turnover rate of 23.0%.
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Foundation Resource Management INC's disclosed holdings carry a Herfindahl concentration index of 0.035 — mathematically equivalent to about 29 equally-sized positions, well below its 55 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 0.96), 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.
Sector classification currently covers about 49% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim 06849f108
-35.2% -$10.2M
Trim NEM
-12.4% -$2.9M
Add HPQ
+195.4% $12.9M
Trim DG
-0.5% -$4.2M
Add XOM
-0.1% $20.7M
Trim BRK-B
+0.5% -$2.0M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | Stock-Energy | 8.06% | +1.26% | -0.13% | |
| 2 | NEM | Newmont CORP | Stock-Materials | 6.10% | -1.54% | -12.42% | |
| 3 | CVX | Chevron CORP | Stock-Energy | 5.49% | +0.73% | +1.05% | |
| 4 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 5.32% | -0.58% | -0.84% | |
| 5 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 5.23% | -1.26% | +0.52% | |
| 6 | ✓ | ConocoPhillips | Stock-Other | 4.27% | +0.69% | +0.56% | |
| 7 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 4.03% | -0.77% | -16.68% | |
| 8 | DG | Dollar General CORP | Stock-Consumer Staples | 3.79% | -1.27% | -0.53% | |
| 9 | VZ | Verizon Communications INC | Stock-Comm Services | 3.63% | +0.22% | +2.64% | |
| 10 | PFE | Pfizer INC | Stock-Healthcare | 2.95% | -0.05% | +3.55% | |
| 11 | MRK | Merck & Co. INC. | Stock-Healthcare | 2.74% | +0.02% | +4.72% | |
| 12 | FHI | Federated Hermes INC | Stock-Financials | 2.47% | -0.29% | -2.25% | |
| 13 | HPQ | Hp INC | Stock-Tech | 2.39% | +1.27% | +195.36% | |
| 14 | ABEV | Ambev Sa-adr | Stock-Consumer Staples | 2.34% | +0.05% | +2.41% | |
| 15 | INTC | Intel CORP | Stock-Tech | 2.28% | -0.20% | -8.76% | |
| 16 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 2.17% | -0.33% | +7.28% | |
| 17 | ✓ | Adobe Inc. | Stock-Other | 2.15% | +2.15% | NEW | |
| 18 | ✓ | Diageo plc | Stock-Other | 2.01% | +0.79% | +126.94% | |
| 19 | LKQ | Lkq CORP | Stock-Consumer Disc | 1.98% | -0.37% | +2.55% | |
| 20 | ✓ | The Mosaic Company | Stock-Other | 1.96% | -0.14% | +4.95% | |
| 21 | ✓ | Barrick Mining Corp | Stock-Other | 1.78% | -1.70% | -35.19% | |
| 22 | GILD | Gilead Sciences INC | Stock-Healthcare | 1.62% | -0.16% | -5.08% | |
| 23 | ✓ | Nutrien Ltd. | Stock-Other | 1.58% | +0.15% | +7.83% | |
| 24 | PKE | Park Aerospace CORP | Stock-Other | 1.56% | +0.12% | +0.51% | |
| 25 | BEN | Franklin Resources INC | Stock-Financials | 1.56% | -0.32% | -0.74% | |
| 26 | L | Loews CORP | Stock-Financials | 1.53% | -0.25% | +0.81% | |
| 27 | PBT | Permian Basin Royalty Trust | Stock-Other | 1.53% | +0.07% | -1.91% | |
| 28 | ✓ | Tsakos Energy Navigation LTD | Stock-Other | 1.52% | +0.47% | -1.71% | |
| 29 | CVE | Cenovus Energy INC | Stock-Energy | 1.51% | +0.42% | +5.04% | |
| 30 | ✓ | Sanofi | Stock-Other | 1.48% | -0.21% | +4.80% | |
| 31 | ✓ | Freeport-McMoRan Inc. | Stock-Other | 1.39% | -0.11% | -5.18% | |
| 32 | PSX | Phillips 66 | Stock-Energy | 1.27% | +0.19% | -1.57% | |
| 33 | APA | Apa CORP | Stock-Energy | 1.24% | +0.44% | +6.68% | |
| 34 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 1.13% | +0.01% | +6.43% | |
| 35 | TRC | Tejon Ranch Co | Stock-Other | 1.09% | +0.05% | +3.54% | |
| 36 | CPB | THE Campbell's Company | Stock-Consumer Staples | 0.89% | +0.89% | NEW | |
| 37 | ✓ | CNH Industrial NV | Stock-Other | 0.85% | +0.05% | +6.03% | |
| 38 | ✓ | Devon Energy Corporation | Stock-Other | 0.84% | +0.21% | +15.60% | |
| 39 | KHC | Kraft Heinz Co/the | Stock-Consumer Staples | 0.82% | -0.19% | +3.88% | |
| 40 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 0.72% | -0.43% | +3.15% | |
| 41 | ✓ | Ovintiv Inc | Stock-Other | 0.69% | +0.20% | +9.84% | |
| 42 | ✓ | Cameco | Stock-Other | 0.68% | -0.02% | -1.71% | |
| 43 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.40% | -0.10% | — | |
| 44 | WMT | Walmart INC | Stock-Consumer Staples | 0.24% | -0.02% | — | |
| 45 | ✓ | Marathon Petroleum Corporation | Stock-Other | 0.14% | +0.03% | — | |
| 46 | RIG | Transocean Ltd. | Stock-Energy | 0.13% | +0.03% | -8.42% | |
| 47 | IMO | Imperial Oil LTD | Stock-Energy | 0.10% | +0.02% | — | |
| 48 | EAF | Graftech International LTD | Stock-Other | 0.08% | -0.16% | -6.88% | |
| 49 | CB | Chubb Limited | Stock-Financials | 0.08% | — | — | |
| 50 | ✓ | The Travelers Companies, Inc. | Stock-Other | 0.08% | — | — |
Performance for Q3 2026
-3.4%
Performance Last 4 Quarters
+36.6%
Based on 68% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 55 | $888.5M | 23 | |
| 2025-12-31 | 52 | $747.5M | 12 | |
| 2025-09-30 | 51 | $696.0M | 28 | |
| 2025-06-30 | 50 | $646.7M | 0 | |
| 2025-03-31 | 50 | $634.4M | 100 | |
| 2024-12-31 | 52 | $598.7M | 0 | |
| 2024-09-30 | 52 | $646.9M | 0 | |
| 2024-06-30 | 52 | $625.9M | 0 | |
| 2024-03-31 | 52 | $636.6M | 0 | |
| 2023-12-31 | 52 | $627.8M | 0 | |
| 2023-09-30 | 52 | $602.4M | 0 | |
| 2023-06-30 | 51 | $600.5M | 0 | |
| 2023-03-31 | 52 | $603.8M | 0 | |
| 2022-12-31 | 53 | $604.3M | 0 | |
| 2022-09-30 | 51 | $526.0M | 0 | |
| 2022-06-30 | 52 | $560.9M | 0 | |
| 2022-03-31 | 52 | $648.1M | 0 | |
| 2021-12-31 | 51 | $514.2M | 0 | |
| 2021-09-30 | 50 | $443.4M | 0 | |
| 2021-06-30 | 50 | $445.5M | 97 | |
| 2021-03-31 | 51 | $420.2M | 32 | |
| 2020-12-31 | 53 | $383.3M | 21 | |
| 2020-09-30 | 52 | $327.7M | 18 | |
| 2020-06-30 | 54 | $325.4M | 17 | |
| 2020-03-31 | 51 | $280.2M | 55 | |
| 2019-12-31 | 55 | $441.8M | 14 | |
| 2019-09-30 | 56 | $457.4M | 9 | |
| 2019-06-30 | 56 | $489.5M | 12 | |
| 2019-03-31 | 58 | $476.9M | 7 | |
| 2018-12-31 | 55 | $463.0M | 19 | |
| 2018-09-30 | 60 | $517.4M | 12 | |
| 2018-06-30 | 57 | $515.8M | 19 | |
| 2018-03-31 | 58 | $497.4M | 20 | |
| 2017-12-31 | 60 | $555.7M | 15 | |
| 2017-09-30 | 60 | $603.7M | 12 | |
| 2017-06-30 | 60 | $558.0M | 13 | |
| 2017-03-31 | 57 | $570.4M | 8 | |
| 2016-12-31 | 59 | $590.8M | 16 | |
| 2016-09-30 | 60 | $560.2M | 9 | |
| 2016-06-30 | 58 | $537.2M | 16 | |
| 2016-03-31 | 58 | $486.7M | 22 | |
| 2015-12-31 | 60 | $461.2M | 14 | |
| 2015-09-30 | 59 | $465.1M | 19 | |
| 2015-06-30 | 62 | $552.3M | 13 | |
| 2015-03-31 | 65 | $608.5M | 19 | |
| 2014-12-31 | 68 | $711.7M | 16 | |
| 2014-09-30 | 66 | $765.5M | 12 | |
| 2014-06-30 | 67 | $819.5M | 10 | |
| 2014-03-31 | 68 | $783.1M | 9 | |
| 2013-12-31 | 70 | $794.9M | 19 | |
| 2013-09-30 | 65 | $778.8M | 59 | |
| 2013-06-30 | 70 | $766.4M | 0 |
Foundation Resource Management INC's most significant position changes for 2026-03-31: New buy: Adobe Inc.; New buy: THE Campbell's Company (CPB); New buy: Murphy Oil CORP (MUR); Trim: Barrick Mining Corp — shares -35.19%; Trim: Newmont CORP (NEM) — shares -12.42%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HPQ | Hp INC | +1.3% | +195.36% | Add |
| 2 | XOM | Exxon Mobil CORP | +1.3% | -0.13% | Trim |
| 3 | ✓ | Diageo plc | +0.8% | +126.94% | Add |
| 4 | CVX | Chevron CORP | +0.7% | +1.05% | Add |
| 5 | ✓ | ConocoPhillips | +0.7% | +0.56% | Add |
| 6 | ✓ | Tsakos Energy Navigation LTD | +0.5% | -1.71% | Trim |
| 7 | APA | Apa CORP | +0.4% | +6.68% | Add |
| 8 | CVE | Cenovus Energy INC | +0.4% | +5.04% | Add |
| 9 | VZ | Verizon Communications INC | +0.2% | +2.64% | Add |
| 10 | ✓ | Devon Energy Corporation | +0.2% | +15.60% | Add |
| 11 | ✓ | Ovintiv Inc | +0.2% | +9.84% | Add |
| 12 | PSX | Phillips 66 | +0.2% | -1.57% | Trim |
| 13 | ✓ | Nutrien Ltd. | +0.2% | +7.83% | Add |
| 14 | PKE | Park Aerospace CORP | +0.1% | +0.51% | Add |
| 15 | PBT | Permian Basin Royalty Trust | +0.1% | -1.91% | Trim |
| 16 | ABEV | Ambev Sa-adr | +0.1% | +2.41% | Add |
| 17 | TRC | Tejon Ranch Co | +0.1% | +3.54% | Add |
| 18 | ✓ | CNH Industrial NV | +0.1% | +6.03% | Add |
| 19 | ✓ | Marathon Petroleum Corporation | 0% | — | Unchanged |
| 20 | RIG | Transocean Ltd. | 0% | -8.42% | Trim |
| 21 | MRK | Merck & Co. INC. | 0% | +4.72% | Add |
| 22 | IMO | Imperial Oil LTD | 0% | — | Unchanged |
| 23 | BMY | Bristol-myers Squibb Co | 0% | +6.43% | Add |
| 24 | ✓ | Cameco | 0% | -1.71% | Trim |
| 25 | WMT | Walmart INC | 0% | — | Unchanged |
| 26 | IBM | Intl Business Machines CORP | 0% | — | Unchanged |
| 27 | PFE | Pfizer INC | -0.1% | +3.55% | Add |
| 28 | BRK-A | Berkshire Hathaway Inc-cl A | -0.1% | — | Unchanged |
| 29 | ✓ | Freeport-McMoRan Inc. | -0.1% | -5.18% | Trim |
| 30 | ✓ | The Mosaic Company | -0.1% | +4.95% | Add |
| 31 | EAF | Graftech International LTD | -0.2% | -6.88% | Trim |
| 32 | GILD | Gilead Sciences INC | -0.2% | -5.08% | Trim |
| 33 | KHC | Kraft Heinz Co/the | -0.2% | +3.88% | Add |
| 34 | INTC | Intel CORP | -0.2% | -8.76% | Trim |
| 35 | ✓ | Sanofi | -0.2% | +4.80% | Add |
| 36 | L | Loews CORP | -0.3% | +0.81% | Add |
| 37 | FHI | Federated Hermes INC | -0.3% | -2.25% | Trim |
| 38 | BEN | Franklin Resources INC | -0.3% | -0.74% | Trim |
| 39 | CMCSA | Comcast Corp-class A | -0.3% | +7.28% | Add |
| 40 | LKQ | Lkq CORP | -0.4% | +2.55% | Add |
| 41 | NVO | Novo-nordisk A/s-spons Adr | -0.4% | +3.15% | Add |
| 42 | TECK | Teck Resources Ltd-cls B | -0.6% | -0.84% | Trim |
| 43 | AEM | Agnico Eagle Mines LTD | -0.8% | -16.68% | Trim |
| 44 | BRK-B | Berkshire Hathaway Inc-cl B | -1.3% | +0.52% | Add |
| 45 | DG | Dollar General CORP | -1.3% | -0.53% | Trim |
| 46 | NEM | Newmont CORP | -1.5% | -12.42% | Trim |
| 47 | ✓ | Barrick Mining Corp | -1.7% | -35.19% | Trim |
| 48 | ✓ | Adobe Inc. | — | NEW | New buy |
| 49 | CPB | THE Campbell's Company | — | NEW | New buy |
| 50 | MUR | Murphy Oil CORP | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-21 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-22 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-10 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-10 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-11 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-10 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-10 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-12 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-12 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-13 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-21 | Amendment | View on EDGAR |
| 2021-12-31 | 2022-01-12 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-08 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-13 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-07 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-08 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-08 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-08 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-03 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-10 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-11 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-17 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-02 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-11 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-19 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-10 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-11 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-18 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-11 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-10 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-05 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-07 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-06 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-19 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-07 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-13 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-07 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-06 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-17 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-10 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-21 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-30 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-07 | 13F-HR | View on EDGAR |
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