CIK: 0001966007
Total reported value
$1.3B
Reporting period: 2026-03-31 · Number of holdings: 218
Applied Finance Capital Management, LLC disclosed 218 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.3B and a quarterly turnover rate of 16.5%.
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Applied Finance Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.018 — mathematically equivalent to about 56 equally-sized positions, well below its 218 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.70), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim IWD
-88.5% -$18.0M
Add VZ
+13.5% $10.1M
Trim GOOGL
-18.4% -$13.4M
Add VLO
-3.7% $7.0M
Trim MSFT
+7.5% -$10.0M
Add COP
-0.9% $6.6M
Showing top 200 holdings (of 218 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 4.49% | -0.32% | -4.44% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 3.50% | -0.56% | +7.52% | |
| 3 | AMAT | Applied Materials INC | Stock-Tech | 3.31% | +0.29% | -21.36% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.01% | -0.83% | -18.40% | |
| 5 | KLAC | Kla CORP | Stock-Tech | 2.99% | +0.24% | -14.43% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.84% | — | +16.01% | |
| 7 | CSCO | Cisco Systems INC | Stock-Tech | 2.68% | -0.15% | -10.31% | |
| 8 | VZ | Verizon Communications INC | Stock-Comm Services | 2.67% | +0.85% | +13.49% | |
| 9 | MA | Mastercard INC - A | Stock-Financials | 2.20% | -0.09% | +4.73% | |
| 10 | HPQ | Hp INC | Stock-Tech | 2.04% | +0.19% | +22.01% | |
| 11 | NVDA | Nvidia CORP | Stock-Tech | 2.03% | -0.28% | -10.61% | |
| 12 | IBM | Intl Business Machines CORP | Stock-Tech | 1.97% | -0.53% | -8.26% | |
| 13 | ADBE | Adobe INC | Stock-Tech | 1.83% | -0.50% | +7.88% | |
| 14 | ROP | Roper Technologies INC | Stock-Tech | 1.82% | -0.01% | +19.20% | |
| 15 | DIS | Walt Disney Co/the | Stock-Comm Services | 1.77% | -0.12% | +5.41% | |
| 16 | COP | Conocophillips | Stock-Energy | 1.74% | +0.55% | -0.94% | |
| 17 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 1.73% | — | -0.87% | |
| 18 | TRV | Travelers Cos Inc/the | Stock-Financials | 1.73% | — | -2.35% | |
| 19 | ORCL | Oracle CORP | Stock-Tech | 1.72% | — | +31.47% | |
| 20 | VLO | Valero Energy CORP | Stock-Energy | 1.67% | +0.58% | -3.74% | |
| 21 | PWR | Quanta Services INC | Stock-Industrials | 1.66% | +0.33% | -8.97% | |
| 22 | DRI | Darden Restaurants INC | Stock-Consumer Disc | 1.64% | +0.19% | +1.13% | |
| 23 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.62% | +0.24% | -2.54% | |
| 24 | WAB | Wabtec CORP | Stock-Industrials | 1.54% | +0.17% | -8.50% | |
| 25 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.51% | -0.18% | -6.80% | |
| 26 | AMP | Ameriprise Financial INC | Stock-Financials | 1.51% | -0.10% | -1.06% | |
| 27 | DHI | Dr Horton INC | Stock-Consumer Disc | 1.49% | — | +6.47% | |
| 28 | UNP | Union Pacific CORP | Stock-Industrials | 1.46% | — | +0.07% | |
| 29 | CMI | Cummins INC | Stock-Industrials | 1.46% | -0.21% | -20.88% | |
| 30 | LKQ | Lkq CORP | Stock-Consumer Disc | 1.46% | +0.17% | +10.98% | |
| 31 | BAC | Bank Of America CORP | Stock-Financials | 1.44% | -0.28% | -9.87% | |
| 32 | TGT | Target CORP | Stock-Consumer Disc | 1.42% | +0.27% | -5.54% | |
| 33 | APTV | Aptiv PLC | Stock-Consumer Disc | 1.40% | — | +4.06% | |
| 34 | MET | Metlife INC | Stock-Financials | 1.34% | -0.09% | -0.26% | |
| 35 | AVGO | Broadcom INC | Stock-Tech | 1.19% | +0.41% | +63.36% | |
| 36 | FISV | Fiserv INC | Stock-Other | 1.19% | +0.44% | +81.22% | |
| 37 | URI | United Rentals INC | Stock-Industrials | 1.19% | — | +4.70% | |
| 38 | MCK | Mckesson CORP | Stock-Healthcare | 1.15% | — | -1.76% | |
| 39 | CBRE | Cbre Group INC - A | Stock-Real Estate | 1.15% | -0.32% | -11.47% | |
| 40 | STZ | Constellation Brands Inc-a | Stock-Consumer Staples | 1.11% | +0.16% | +2.58% | |
| 41 | TSN | Tyson Foods Inc-cl A | Stock-Consumer Staples | 1.10% | — | -6.77% | |
| 42 | KDP | Keurig Dr Pepper INC | Stock-Consumer Staples | 0.99% | -0.05% | -3.78% | |
| 43 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.98% | -0.07% | -11.77% | |
| 44 | V | Visa Inc-class A Shares | Stock-Financials | 0.90% | — | +14.34% | |
| 45 | INCY | Incyte CORP | Stock-Healthcare | 0.89% | -0.10% | -9.92% | |
| 46 | SYK | Stryker CORP | Stock-Healthcare | 0.88% | +0.13% | +19.82% | |
| 47 | DTE | Dte Energy Company | Stock-Utilities | 0.88% | +0.13% | -1.20% | |
| 48 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.86% | -0.15% | -4.21% | |
| 49 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.86% | -0.26% | -20.00% | |
| 50 | CVS | Cvs Health CORP | Stock-Healthcare | 0.85% | -0.04% | +1.11% |
Performance for Q3 2026
+4.1%
Performance Last 4 Quarters
+18.9%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 218 | $1.3B | 16 | |
| 2025-12-31 | 225 | $1.4B | 21 | |
| 2025-09-30 | 280 | $1.4B | 28 | |
| 2025-06-30 | 308 | $1.5B | 0 | |
| 2025-03-31 | 294 | $1.4B | 0 | |
| 2024-12-31 | 297 | $2.3B | 0 | |
| 2024-09-30 | 298 | $2.3B | 0 | |
| 2024-06-30 | 293 | $2.2B | 0 | |
| 2024-03-31 | 75 | $1.4B | 0 | |
| 2023-12-31 | 75 | $1.2B | 0 | |
| 2023-09-30 | 74 | $919.7M | 0 | |
| 2023-06-30 | 74 | $882.6M | 0 | |
| 2023-03-31 | 71 | $804.0M | 0 | |
| 2022-12-31 | 70 | $767.0M | 0 |
Applied Finance Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Micron Technology INC (MU); Sold out: Caterpillar INC (CAT); Sold out: Cencora INC (COR); New buy: Transdigm Group INC (TDG); Sold out: Deere & Co (DE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VZ | Verizon Communications INC | +0.9% | +13.49% | Add |
| 2 | VLO | Valero Energy CORP | +0.6% | -3.74% | Trim |
| 3 | COP | Conocophillips | +0.6% | -0.94% | Trim |
| 4 | FISV | Fiserv INC | +0.4% | +81.22% | Add |
| 5 | AVGO | Broadcom INC | +0.4% | +63.36% | Add |
| 6 | PWR | Quanta Services INC | +0.3% | -8.97% | Trim |
| 7 | AMAT | Applied Materials INC | +0.3% | -21.36% | Trim |
| 8 | TGT | Target CORP | +0.3% | -5.54% | Trim |
| 9 | MRK | Merck & Co. INC. | +0.2% | -2.54% | Trim |
| 10 | KLAC | Kla CORP | +0.2% | -14.43% | Trim |
| 11 | DRI | Darden Restaurants INC | +0.2% | +1.13% | Add |
| 12 | HPQ | Hp INC | +0.2% | +22.01% | Add |
| 13 | LKQ | Lkq CORP | +0.2% | +10.98% | Add |
| 14 | WAB | Wabtec CORP | +0.2% | -8.50% | Trim |
| 15 | STZ | Constellation Brands Inc-a | +0.2% | +2.58% | Add |
| 16 | LNG | Cheniere Energy INC | +0.1% | +22.68% | Add |
| 17 | SYK | Stryker CORP | +0.1% | +19.82% | Add |
| 18 | DTE | Dte Energy Company | +0.1% | -1.20% | Trim |
| 19 | JNJ | Johnson & Johnson | +0.1% | -3.75% | Trim |
| 20 | LYB | LyondellBasell Industries N.V. | +0.1% | +19.53% | Add |
| 21 | ROP | Roper Technologies INC | 0% | +19.20% | Add |
| 22 | CVS | Cvs Health CORP | 0% | +1.11% | Add |
| 23 | KDP | Keurig Dr Pepper INC | -0.1% | -3.78% | Trim |
| 24 | REGN | Regeneron Pharmaceuticals | -0.1% | -11.77% | Trim |
| 25 | MA | Mastercard INC - A | -0.1% | +4.73% | Add |
| 26 | MET | Metlife INC | -0.1% | -0.26% | Trim |
| 27 | AMP | Ameriprise Financial INC | -0.1% | -1.06% | Trim |
| 28 | INCY | Incyte CORP | -0.1% | -9.92% | Trim |
| 29 | ACN | Accenture plc | -0.1% | -26.02% | Trim |
| 30 | DIS | Walt Disney Co/the | -0.1% | +5.41% | Add |
| 31 | DHR | Danaher CORP | -0.1% | -1.09% | Trim |
| 32 | CSCO | Cisco Systems INC | -0.2% | -10.31% | Trim |
| 33 | TMO | Thermo Fisher Scientific INC | -0.2% | -4.21% | Trim |
| 34 | JPM | Jpmorgan Chase & Co | -0.2% | -6.80% | Trim |
| 35 | CMI | Cummins INC | -0.2% | -20.88% | Trim |
| 36 | GOOG | Alphabet Inc-cl C | -0.3% | -20.00% | Trim |
| 37 | NVDA | Nvidia CORP | -0.3% | -10.61% | Trim |
| 38 | BAC | Bank Of America CORP | -0.3% | -9.87% | Trim |
| 39 | AAPL | Apple INC | -0.3% | -4.44% | Trim |
| 40 | CBRE | Cbre Group INC - A | -0.3% | -11.47% | Trim |
| 41 | ADBE | Adobe INC | -0.5% | +7.88% | Add |
| 42 | IBM | Intl Business Machines CORP | -0.5% | -8.26% | Trim |
| 43 | MSFT | Microsoft CORP | -0.6% | +7.52% | Add |
| 44 | GOOGL | Alphabet Inc-cl A | -0.8% | -18.40% | Trim |
| 45 | IWD | Ishares Russell 1000 Value E | -1.3% | -88.45% | Trim |
| 46 | MU | Micron Technology INC | — | NEW | New buy |
| 47 | CAT | Caterpillar INC | — | EXIT | Sold out |
| 48 | COR | Cencora INC | — | EXIT | Sold out |
| 49 | TDG | Transdigm Group INC | — | NEW | New buy |
| 50 | DE | Deere & Co | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-04 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-05 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-06 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-29 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-08 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-11-01 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-31 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-07 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-08 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-08 | 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 | 2023-02-15 | 13F-HR | View on EDGAR |
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