LA
LFL Advisers, LLC Investment Portfolio (Q2 2026) — 13F Stock Holdings
LFL Advisers, LLCCIK: 0001694127
Momentum followerQuality / disciplined sizingSector-focused
Total reported value
$374.0M
Reporting period: 2026-06-30 · Number of holdings: 9
LFL Advisers, LLC disclosed 9 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $374.0M and a quarterly turnover rate of 14.2%.
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Personality snowflake
- Concentration
- 48.64
- Portfolio Stability
- 14.23
- Momentum
- 100
- Sector conviction
- 73.11
- Diversification
- 18
- Sizing Uniformity
- 96.74
LFL Advisers, LLC's disclosed holdings carry a Herfindahl concentration index of 0.122 — 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 0.33), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 12.4 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim TEL
-0.5% -$2.0M
Trim SUNB
-18.3% -$2.3M
Add PGR
+22.6% $9.8M
Add BNY
+0.4% $12.2M
Add LAMR
-0.9% $8.9M
Add GOOG
-0.3% $6.6M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BNY | Bank Of New York Mellon CORP | Stock-Financials | 17.84% | +1.44% | +0.42% | |
| 2 | LAMR | Lamar Advertising Co-a | Stock-Real Estate | 13.08% | +1.03% | -0.85% | |
| 3 | TEL | TE Connectivity plc | Stock-Tech | 12.55% | -2.17% | -0.54% | |
| 4 | AON | Aon plc | Stock-Financials | 12.12% | -0.18% | +7.91% | |
| 5 | SUNB | Sunbelt Rentals Holdings Inc | Stock-Industrials | 10.78% | -2.05% | -18.31% | |
| 6 | PGR | Progressive CORP | Stock-Financials | 10.08% | +1.68% | +22.60% | |
| 7 | ALV | Autoliv Inc | Stock-Consumer Disc | 9.75% | -0.21% | -0.28% | |
| 8 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 9.55% | +0.79% | -0.32% | |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 4.24% | -0.34% | -0.35% |
Portfolio Performance
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+18.7%
- Stdev
- +14%
- Beta
- +0.93
- Alpha
- +0.8%
- Max Drawdown
- -6.9%
- Annualized Perf
- +20%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.84
- Stutzer
- +0.41
- Treynor
- +0.21
- Sterling
- +1.29
- Calmar
- +2.89
- Information Ratio
- -0.09
- Tracking Error
- +7.3%
- Stdev Down
- +6.8%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +35.6%
- Worst 12 Months
- -0.4%
- Efficiency Ratio
- +0.61
- Sharpe
- +1.38
- Stdev Sectors
- +11.3%
- Skewness
- +0.09
- Kurtosis
- -0.18
- Upside Potential
- +4.34
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 9 | $374.0M | 14 | ||
| 2026 Q1 | 9 | $332.4M | 24 | ||
| 2025 Q4 | 8 | $304.8M | 8 | ||
| 2025 Q3 | 8 | $288.9M | 26 | ||
| 2025 Q2 | 8 | $250.2M | 0 | ||
| 2025 Q1 | 8 | $228.6M | 100 | ||
| 2024 Q4 | 9 | $256.7M | 0 | ||
| 2024 Q3 | 10 | $279.0M | 0 | ||
| 2024 Q2 | 11 | $254.1M | 0 | ||
| 2024 Q1 | 11 | $277.0M | 0 | ||
| 2023 Q4 | 11 | $230.0M | 0 | ||
| 2023 Q3 | 11 | $204.6M | 0 | ||
| 2023 Q2 | 11 | $217.3M | 0 | ||
| 2023 Q1 | 11 | $222.9M | 0 | ||
| 2022 Q4 | 11 | $211.0M | 0 | ||
| 2022 Q3 | 11 | $188.7M | 0 | ||
| 2022 Q2 | 11 | $193.3M | 0 | ||
| 2022 Q1 | 11 | $223.5M | 0 | ||
| 2021 Q4 | 11 | $242.2M | 0 | ||
| 2021 Q3 | 11 | $218.2M | 0 | ||
| 2021 Q2 | 11 | $214.1M | 100 | ||
| 2021 Q1 | 11 | $203.1M | 20 | ||
| 2020 Q4 | 12 | $208.9M | 24 | ||
| 2020 Q3 | 11 | $189.1M | 13 | ||
| 2020 Q2 | 12 | $192.4M | 27 | ||
| 2020 Q1 | 14 | $159.6M | 49 | ||
| 2019 Q4 | 10 | $167.2M | 7 | ||
| 2019 Q3 | 10 | $169.8M | 5 | ||
| 2019 Q2 | 10 | $163.2M | 15 | ||
| 2019 Q1 | 9 | $142.8M | 12 | ||
| 2018 Q4 | 9 | $127.4M | 15 | ||
| 2018 Q3 | 8 | $132.3M | 9 | ||
| 2018 Q2 | 10 | $125.3M | 14 | ||
| 2018 Q1 | 9 | $120.5M | 25 | ||
| 2017 Q4 | 10 | $104.0M | 17 | ||
| 2017 Q3 | 11 | $111.2M | 9 | ||
| 2017 Q2 | 12 | $106.6M | 8 | ||
| 2017 Q1 | 13 | $106.9M | 11 | ||
| 2016 Q4 | 13 | $105.1M | — |
Holding changes this quarter
LFL Advisers, LLC's most significant position changes for 2026-06-30: Trim: TE Connectivity plc (TEL) — shares -0.54%; Trim: Sunbelt Rentals Holdings Inc (SUNB) — shares -18.31%; Add: Progressive CORP (PGR) — shares +22.60%; Add: Bank Of New York Mellon CORP (BNY) — shares +0.42%; Trim: Lamar Advertising Co-a (LAMR) — shares -0.85%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PGR | Progressive CORP | +1.7% | +22.60% | Add |
| 2 | BNY | Bank Of New York Mellon CORP | +1.4% | +0.42% | Add |
| 3 | LAMR | Lamar Advertising Co-a | +1% | -0.85% | Trim |
| 4 | GOOG | Alphabet Inc-cl C | +0.8% | -0.32% | Trim |
| 5 | AON | Aon plc | -0.2% | +7.91% | Add |
| 6 | ALV | Autoliv Inc | -0.2% | -0.28% | Trim |
| 7 | BRK-B | Berkshire Hathaway Inc-cl B | -0.3% | -0.35% | Trim |
| 8 | SUNB | Sunbelt Rentals Holdings Inc | -2.1% | -18.31% | Trim |
| 9 | TEL | TE Connectivity plc | -2.2% | -0.54% | Trim |
Filing History
FAQ
What is LFL Advisers, LLC and what type of investor is it?
LFL Advisers, LLC 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $374.0M, spread across 9 disclosed positions.
What are LFL Advisers, LLC's largest equity positions?
Based on the latest 13F filing, LFL Advisers, LLC's top holdings by market value are:
1. Bank Of New York Mellon CORP (BNY) — $66.7M (17.8%)
2. Lamar Advertising Co-a (LAMR) — $48.9M (13.1%)
3. TE Connectivity plc (TEL) — $46.9M (12.6%)
4. Aon plc (AON) — $45.3M (12.1%)
5. Sunbelt Rentals Holdings Inc (SUNB) — $40.3M (10.8%)
What changes did LFL Advisers, LLC make in its most recent portfolio filing?
In the latest reported quarter, LFL Advisers, LLC made 9 notable position adjustments: 0 new positions were initiated, 3 existing holdings were added to, 6 positions were partially reduced, and 0 were completely exited. The largest of these moves: Trim: TE Connectivity plc (TEL) — shares -0.54%; Trim: Sunbelt Rentals Holdings Inc (SUNB) — shares -18.31%; Add: Progressive CORP (PGR) — shares +22.60%; Add: Bank Of New York Mellon CORP (BNY) — shares +0.42%; Trim: Lamar Advertising Co-a (LAMR) — shares -0.85%
What sectors does LFL Advisers, LLC focus on?
LFL Advisers, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 41.8%
• Real Estate: 13.7%
• Information Technology: 13.1%
• Industrials: 11.3%
• Consumer Discretionary: 10.2%
• Communication Services: 10.0%
Investment Profile
LFL Advisers, LLC returned an annualized 20.0% over the trailing 36 months — outperforming the S&P 500 by 0.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.93 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 41.8% of the portfolio concentrated in Financials.
It has added to its BNY position over the past two quarters (+$13.0M, now $66.7M), while trimming TEL over the same stretch (-$6.3M, still holding $46.9M).
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Total reported value
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Sector conviction100.0
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LI
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Developer Access
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REST API
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