CIK: 0000860644
Total reported value
$47.8B
Reporting period: 2026-03-31 · Number of holdings: 191
Aristotle Capital Management, LLC disclosed 191 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $47.8B and a quarterly turnover rate of 22.7%.
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Aristotle Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 53 equally-sized positions, well below its 191 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 1.61), 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.
Add CVX
+653.0% $844.9M
Trim CTRA
-88.5% -$648.5M
Add WSM
+22.0% $400.5M
Trim COF
-3.7% -$467.6M
Add MKC
+231.9% $378.9M
Trim PH
-21.8% -$486.7M
Aristotle Capital Management is rotating capital from overowned growth leaders (MSFT, COF) and frothy industrials (PH) into deeply discounted energy (CVX) and consumer staples (MKC) while initiating a new position in Motorola Solutions (MSI). This is not defensive hedging — it's a conviction bet that mean reversion prices currently offer higher expected returns than the crowded momentum trade.
The macro cycle bet embedded here is a rejection of the 'soft landing/AI capex boom' narrative that has driven tech multiples to extreme levels. Aristotle is pricing in a shift toward economic normalcy where earnings broaden out beyond the Magnificent Seven, and where inflation moderates enough to allow consumer discretionary and staples to recover. The opposing thesis: persistent fiscal spending and reshoring could prolong the industrial and capital expenditure supercycle, making the trim in PH and MSFT a timing error.
The portfolio's structural vulnerability is not sector concentration — its financials and IT weights are the largest but still moderate — but the sheer breadth of 191 holdings. This hyper-diversification acts as a liquidity trap: in a market dislocation, the fund cannot have conviction-sized bets on its best ideas, and the thousands of small positions become a drag on performance when factor gaps widen. The contrarian score of 100 further suggests a reflexive risk: if this value bet goes wrong, the fund's entire differentiated philosophy becomes the source of tracking error.
The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | WSM | Williams-sonoma INC | Stock-Consumer Disc | 4.25% | +0.99% | +22.00% | |
| 2 | PH | Parker Hannifin CORP | Stock-Industrials | 3.98% | -0.80% | -21.85% | |
| 3 | CTVA | Corteva INC | Stock-Materials | 3.30% | +0.60% | -6.51% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.08% | -0.29% | -4.35% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 2.62% | -0.79% | -4.12% | |
| 6 | COF | Capital One Financial CORP | Stock-Financials | 2.58% | -0.82% | -3.71% | |
| 7 | MLM | Martin Marietta Materials | Stock-Materials | 2.41% | -0.15% | -4.64% | |
| 8 | AMGN | Amgen INC | Stock-Healthcare | 2.27% | — | -6.47% | |
| 9 | TTE | Totalenergies Se | Stock-Other | 2.15% | +0.47% | -12.65% | |
| 10 | ECL | Ecolab INC | Stock-Materials | 2.06% | — | -4.63% | |
| 11 | MSI | Motorola Solutions INC | Stock-Tech | 2.06% | +2.06% | NEW | |
| 12 | AMP | Ameriprise Financial INC | Stock-Financials | 2.06% | -0.21% | -4.34% | |
| 13 | USB | US Bancorp | Stock-Financials | 2.04% | -0.06% | -4.66% | |
| 14 | TDY | Teledyne Technologies INC | Stock-Tech | 2.02% | +0.27% | -6.40% | |
| 15 | VZ | Verizon Communications INC | Stock-Comm Services | 2.00% | +0.40% | -3.26% | |
| 16 | CVX | Chevron CORP | Stock-Energy | 1.96% | +1.78% | +653.01% | |
| 17 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.95% | — | -5.62% | |
| 18 | SONY | Sony Group CORP - Sp Adr | Stock-Tech | 1.90% | -0.41% | -2.56% | |
| 19 | ATO | Atmos Energy CORP | Stock-Utilities | 1.88% | -0.26% | -23.60% | |
| 20 | XEL | Xcel Energy INC | Stock-Utilities | 1.85% | — | -4.08% | |
| 21 | MUFG | Mitsubishi Ufj Finl-spon Adr | Stock-Financials | 1.83% | — | -4.50% | |
| 22 | PNC | Pnc Financial Services Group | Stock-Financials | 1.79% | -0.01% | -4.54% | |
| 23 | GD | General Dynamics CORP | Stock-Industrials | 1.76% | — | -3.34% | |
| 24 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.74% | +0.21% | -5.31% | |
| 25 | WFC | Wells Fargo & Co | Stock-Financials | 1.70% | -0.32% | -5.44% | |
| 26 | AIG | American International Group | Stock-Financials | 1.66% | -0.22% | -4.17% | |
| 27 | AWK | American Water Works Co INC | Stock-Utilities | 1.66% | — | -3.26% | |
| 28 | APD | Air Products & Chemicals INC | Stock-Materials | 1.63% | +0.31% | +0.53% | |
| 29 | QCOM | Qualcomm INC | Stock-Tech | 1.62% | -0.52% | -3.79% | |
| 30 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 1.60% | -0.05% | -5.35% | |
| 31 | MCHP | Microchip Technology INC | Stock-Tech | 1.57% | -0.02% | -6.38% | |
| 32 | OSK | Oshkosh CORP | Stock-Industrials | 1.54% | +0.19% | -7.14% | |
| 33 | SNPS | Synopsys INC | Stock-Tech | 1.53% | -0.25% | -2.34% | |
| 34 | ALC | Alcon Inc. | Stock-Healthcare | 1.53% | -0.07% | -4.21% | |
| 35 | UBER | Uber Technologies INC | Stock-Industrials | 1.53% | -0.25% | -6.54% | |
| 36 | RPM | Rpm International INC | Stock-Materials | 1.53% | -0.09% | -5.14% | |
| 37 | LEN | Lennar Corp-a | Stock-Consumer Disc | 1.52% | -0.28% | -4.35% | |
| 38 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.40% | — | -5.17% | |
| 39 | DHR | Danaher CORP | Stock-Healthcare | 1.38% | -0.32% | -5.81% | |
| 40 | CFR | Cullen/frost Bankers INC | Stock-Financials | 1.37% | — | -4.89% | |
| 41 | MKC | Mccormick & Co-non Vtg Shrs | Stock-Consumer Staples | 1.34% | +0.82% | +231.86% | |
| 42 | BX | Blackstone INC | Stock-Financials | 1.26% | -0.42% | -4.38% | |
| 43 | MDT | Medtronic plc | Stock-Healthcare | 1.21% | -0.12% | -4.05% | |
| 44 | ELS | Equity Lifestyle Properties | Stock-Real Estate | 1.13% | — | -2.55% | |
| 45 | ADBE | Adobe INC | Stock-Tech | 1.10% | -0.50% | -5.14% | |
| 46 | CCJ | Cameco CORP | Stock-Energy | 0.61% | +0.33% | +79.02% | |
| 47 | BAP | Credicorp Ltd. | Stock-Financials | 0.53% | — | -1.59% | |
| 48 | KO | The Coca-Cola Company | Stock-Consumer Staples | 0.35% | — | -1.43% | |
| 49 | EBKDY | Erste Group Bank Ag-spon Adr | Stock-Other | 0.28% | — | -2.34% | |
| 50 | ING | Ing Groep N.v.-sponsored Adr | Stock-Financials | 0.28% | — | -2.20% |
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+7.2%
Based on 66% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 191 | $47.8B | 23 | |
| 2025-12-31 | 192 | $50.0B | 15 | |
| 2025-09-30 | 193 | $51.8B | 23 | |
| 2025-06-30 | 184 | $51.9B | 0 | |
| 2025-03-31 | 183 | $50.2B | 100 | |
| 2024-12-31 | 185 | $51.9B | 0 | |
| 2024-09-30 | 185 | $54.9B | 0 | |
| 2024-06-30 | 181 | $51.7B | 0 | |
| 2024-03-31 | 176 | $53.9B | 0 | |
| 2023-12-31 | 175 | $51.1B | 0 | |
| 2023-09-30 | 172 | $46.5B | 0 | |
| 2023-06-30 | 174 | $49.3B | 0 | |
| 2023-03-31 | 174 | $47.8B | 0 | |
| 2022-12-31 | 179 | $47.1B | 0 | |
| 2022-09-30 | 176 | $45.2B | 0 | |
| 2022-06-30 | 175 | $47.5B | 0 | |
| 2022-03-31 | 180 | $54.9B | 0 | |
| 2021-12-31 | 178 | $59.0B | 0 | |
| 2021-09-30 | 176 | $52.9B | 0 | |
| 2021-06-30 | 179 | $52.3B | 97 | |
| 2021-03-31 | 181 | $48.9B | 23 | |
| 2020-12-31 | 176 | $40.3B | 25 | |
| 2020-09-30 | 171 | $33.1B | 17 | |
| 2020-06-30 | 171 | $29.8B | 31 | |
| 2020-03-31 | 174 | $23.7B | 36 | |
| 2019-12-31 | 174 | $30.4B | 50 | |
| 2019-09-30 | 177 | $18.9B | 12 | |
| 2019-06-30 | 176 | $17.9B | 18 | |
| 2019-03-31 | 172 | $16.8B | 21 | |
| 2018-12-31 | 172 | $14.8B | 19 | |
| 2018-09-30 | 173 | $17.2B | 19 | |
| 2018-06-30 | 169 | $16.2B | 16 | |
| 2018-03-31 | 223 | $14.9B | 9 | |
| 2017-12-31 | 182 | $14.4B | 21 | |
| 2017-09-30 | 147 | $12.9B | 21 | |
| 2017-06-30 | 107 | $12.0B | 14 | |
| 2017-03-31 | 108 | $11.0B | 15 | |
| 2016-12-31 | 105 | $10.2B | 18 | |
| 2016-09-30 | 109 | $9.6B | 15 | |
| 2016-06-30 | 110 | $9.2B | 18 | |
| 2016-03-31 | 116 | $8.6B | 19 | |
| 2015-12-31 | 127 | $8.3B | 19 | |
| 2015-09-30 | 125 | $8.0B | 16 | |
| 2015-06-30 | 128 | $8.5B | 11 | |
| 2015-03-31 | 135 | $8.0B | 18 | |
| 2014-12-31 | 140 | $7.8B | 20 | |
| 2014-09-30 | 141 | $7.6B | 22 | |
| 2014-06-30 | 155 | $7.5B | 25 | |
| 2014-03-31 | 136 | $6.9B | 17 | |
| 2013-12-31 | 135 | $6.3B | 30 | |
| 2013-09-30 | 134 | $5.0B | 35 | |
| 2013-06-30 | 131 | $3.6B | 0 |
Aristotle Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Motorola Solutions INC (MSI); Sold out: Constellation Brands Inc-a (STZ); New buy: Total Se; Sold out: Roche Holding AG; Sold out: Ashtead Group PLC Spon Adr (ASHGY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CVX | Chevron CORP | +1.8% | +653.01% | Add |
| 2 | WSM | Williams-sonoma INC | +1% | +22.00% | Add |
| 3 | MKC | Mccormick & Co-non Vtg Shrs | +0.8% | +231.86% | Add |
| 4 | CTVA | Corteva INC | +0.6% | -6.51% | Trim |
| 5 | TTE | Totalenergies Se | +0.5% | -12.65% | Trim |
| 6 | VZ | Verizon Communications INC | +0.4% | -3.26% | Trim |
| 7 | CCJ | Cameco CORP | +0.3% | +79.02% | Add |
| 8 | APD | Air Products & Chemicals INC | +0.3% | +0.53% | Add |
| 9 | TDY | Teledyne Technologies INC | +0.3% | -6.40% | Trim |
| 10 | MRK | Merck & Co. INC. | +0.2% | -5.31% | Trim |
| 11 | OSK | Oshkosh CORP | +0.2% | -7.14% | Trim |
| 12 | PNC | Pnc Financial Services Group | 0% | -4.54% | Trim |
| 13 | MCHP | Microchip Technology INC | 0% | -6.38% | Trim |
| 14 | LOW | Lowe's Cos INC | -0.1% | -5.35% | Trim |
| 15 | USB | US Bancorp | -0.1% | -4.66% | Trim |
| 16 | ALC | Alcon Inc. | -0.1% | -4.21% | Trim |
| 17 | RPM | Rpm International INC | -0.1% | -5.14% | Trim |
| 18 | MDT | Medtronic plc | -0.1% | -4.05% | Trim |
| 19 | MLM | Martin Marietta Materials | -0.2% | -4.64% | Trim |
| 20 | AMP | Ameriprise Financial INC | -0.2% | -4.34% | Trim |
| 21 | AIG | American International Group | -0.2% | -4.17% | Trim |
| 22 | UBER | Uber Technologies INC | -0.3% | -6.54% | Trim |
| 23 | SNPS | Synopsys INC | -0.3% | -2.34% | Trim |
| 24 | ATO | Atmos Energy CORP | -0.3% | -23.60% | Trim |
| 25 | LEN | Lennar Corp-a | -0.3% | -4.35% | Trim |
| 26 | GOOG | Alphabet Inc-cl C | -0.3% | -4.35% | Trim |
| 27 | WFC | Wells Fargo & Co | -0.3% | -5.44% | Trim |
| 28 | DHR | Danaher CORP | -0.3% | -5.81% | Trim |
| 29 | BN | Brookfield CORP | -0.3% | -51.72% | Trim |
| 30 | SONY | Sony Group CORP - Sp Adr | -0.4% | -2.56% | Trim |
| 31 | BX | Blackstone INC | -0.4% | -4.38% | Trim |
| 32 | ADBE | Adobe INC | -0.5% | -5.14% | Trim |
| 33 | QCOM | Qualcomm INC | -0.5% | -3.79% | Trim |
| 34 | MSFT | Microsoft CORP | -0.8% | -4.12% | Trim |
| 35 | PH | Parker Hannifin CORP | -0.8% | -21.85% | Trim |
| 36 | COF | Capital One Financial CORP | -0.8% | -3.71% | Trim |
| 37 | CTRA | Coterra Energy INC | -1.3% | -88.47% | Trim |
| 38 | MSI | Motorola Solutions INC | — | NEW | New buy |
| 39 | STZ | Constellation Brands Inc-a | — | EXIT | Sold out |
| 40 | ✓ | Total Se | — | NEW | New buy |
| 41 | ✓ | Roche Holding AG | — | EXIT | Sold out |
| 42 | ASHGY | Ashtead Group PLC Spon Adr | — | EXIT | Sold out |
| 43 | TTNDY | Techtronic Industries-sp Adr | — | NEW | New buy |
| 44 | ✓ | Roche Holding AG | — | NEW | New buy |
| 45 | SUNB | Sunbelt Rentals Holdings INC | — | NEW | New buy |
| 46 | ✓ | Ashtead Group PLC | — | EXIT | Sold out |
| 47 | ✓ | Techtronic Industr | — | NEW | New buy |
| 48 | ✓ | Sunbelt Rentals Holdings INC | — | NEW | New buy |
| 49 | ✓ | — | EXIT | Sold out | |
| 50 | UL | Unilever Plc-sponsored Adr | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-22 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-08-20 | Amendment | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-08-20 | Amendment | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2019-09-19 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2019-09-19 | Amendment | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-11-16 | Amendment | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-11-16 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-05-17 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-11-16 | Amendment | View on EDGAR |
| 2016-12-31 | 2017-03-07 | Amendment | View on EDGAR |
| 2016-12-31 | 2017-03-07 | Amendment | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2017-11-16 | Amendment | View on EDGAR |
| 2016-09-30 | 2017-11-16 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2017-11-16 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-08-16 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2017-11-17 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2017-11-16 | Amendment | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | Amendment | View on EDGAR |
| 2015-09-30 | 2017-11-16 | Amendment | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-03-20 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-12 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-09 | 13F-HR | View on EDGAR |
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