CIK: 0001694127
Total reported value
$332.4M
Reporting period: 2026-03-31 · Number of holdings: 9
LFL Advisers, LLC disclosed 9 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $332.4M and a quarterly turnover rate of 24.4%.
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LFL Advisers, LLC's disclosed holdings carry a Herfindahl concentration index of 0.121 — mathematically equivalent to about 8 equally-sized positions, close to its 9 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.32), 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.
Trim GOOG
-22.3% -$11.9M
Trim TEL
+0.1% -$4.3M
Trim ALV
+0.1% -$4.2M
Trim PGR
+0.4% -$4.0M
Add AON
+36.7% $8.2M
Trim BNY
-0.7% $809.1K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BNY | Bank Of New York Mellon CORP | Stock-Financials | 16.40% | -1.22% | -0.67% | |
| 2 | TEL | TE Connectivity plc | Stock-Tech | 14.72% | -2.74% | +0.07% | |
| 3 | SUNB | Sunbelt Rentals Holdings INC | Stock-Industrials | 12.83% | +12.83% | NEW | |
| 4 | AON | Aon plc | Stock-Financials | 12.30% | +1.57% | +36.70% | |
| 5 | LAMR | Lamar Advertising Co-a | Stock-Real Estate | 12.05% | -0.75% | +2.60% | |
| 6 | ALV | Autoliv INC | Stock-Consumer Disc | 9.96% | -2.29% | +0.13% | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 8.76% | -4.68% | -22.31% | |
| 8 | PGR | Progressive CORP | Stock-Financials | 8.40% | -2.08% | +0.36% | |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 4.58% | -0.65% | +0.35% |
Performance for Q3 2026
+7.9%
Performance Last 4 Quarters
+29.8%
Based on 81% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 9 | $332.4M | 24 | |
| 2025-12-31 | 8 | $304.8M | 8 | |
| 2025-09-30 | 8 | $288.9M | 26 | |
| 2025-06-30 | 8 | $250.2M | 0 | |
| 2025-03-31 | 8 | $228.6M | 100 | |
| 2024-12-31 | 9 | $256.7M | 0 | |
| 2024-09-30 | 10 | $279.0M | 0 | |
| 2024-06-30 | 11 | $254.1M | 0 | |
| 2024-03-31 | 11 | $277.0M | 0 | |
| 2023-12-31 | 11 | $230.0M | 0 | |
| 2023-09-30 | 11 | $204.6M | 0 | |
| 2023-06-30 | 11 | $217.3M | 0 | |
| 2023-03-31 | 11 | $222.9M | 0 | |
| 2022-12-31 | 11 | $211.0M | 0 | |
| 2022-09-30 | 11 | $188.7M | 0 | |
| 2022-06-30 | 11 | $193.3M | 0 | |
| 2022-03-31 | 11 | $223.5M | 0 | |
| 2021-12-31 | 11 | $242.2M | 0 | |
| 2021-09-30 | 11 | $218.2M | 0 | |
| 2021-06-30 | 11 | $214.1M | 100 | |
| 2021-03-31 | 11 | $203.1M | 20 | |
| 2020-12-31 | 12 | $208.9M | 24 | |
| 2020-09-30 | 11 | $189.1M | 13 | |
| 2020-06-30 | 12 | $192.4M | 27 | |
| 2020-03-31 | 14 | $159.6M | 49 | |
| 2019-12-31 | 10 | $167.2M | 7 | |
| 2019-09-30 | 10 | $169.8M | 5 | |
| 2019-06-30 | 10 | $163.2M | 15 | |
| 2019-03-31 | 9 | $142.8M | 12 | |
| 2018-12-31 | 9 | $127.4M | 15 | |
| 2018-09-30 | 8 | $132.3M | 9 | |
| 2018-06-30 | 10 | $125.3M | 14 | |
| 2018-03-31 | 9 | $120.5M | 25 | |
| 2017-12-31 | 10 | $104.0M | 17 | |
| 2017-09-30 | 11 | $111.2M | 9 | |
| 2017-06-30 | 12 | $106.6M | 8 | |
| 2017-03-31 | 13 | $106.9M | 11 | |
| 2016-12-31 | 13 | $105.1M | — |
LFL Advisers, LLC's most significant position changes for 2026-03-31: New buy: Sunbelt Rentals Holdings INC (SUNB); Trim: Alphabet Inc-cl C (GOOG) — shares -22.31%; Add: TE Connectivity plc (TEL) — shares +0.07%; Add: Autoliv INC (ALV) — shares +0.13%; Add: Progressive CORP (PGR) — shares +0.36%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AON | Aon plc | +1.6% | +36.70% | Add |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | -0.7% | +0.35% | Add |
| 3 | LAMR | Lamar Advertising Co-a | -0.8% | +2.60% | Add |
| 4 | BNY | Bank Of New York Mellon CORP | -1.2% | -0.67% | Trim |
| 5 | PGR | Progressive CORP | -2.1% | +0.36% | Add |
| 6 | ALV | Autoliv INC | -2.3% | +0.13% | Add |
| 7 | TEL | TE Connectivity plc | -2.7% | +0.07% | Add |
| 8 | GOOG | Alphabet Inc-cl C | -4.7% | -22.31% | Trim |
| 9 | SUNB | Sunbelt Rentals Holdings INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-10 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-08 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-09 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-10 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-07 | 13F-HR | View on EDGAR |
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