ACADEMY CAPITAL MANAGEMENT

CIK 1031972 · View on SEC EDGAR ↗

Portfolio value QoQ: +8.1% 13F does not disclose cash

Top 10 holdings weight75.22%

Top 25 holdings weight99.36%

Positions above 1%18

Effective number of positions15.0

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 5.47% Est. buys $39,786,698 · sells $63,275,278

Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 76.6% still held

New positions5

Increased8

Decreased13

Closed5

Portfolio value $756.3M #3,004 of 9,337 by 13F value · top 32.2%

Positions 36

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Technology 25.9%

Financials 8.7%

Retail 7.8%

Healthcare 3.1%

Industrials 0.3%

Energy 0.0%

Other/Unmapped 54.2%

Full portfolio 36 positions

					Streak
AAPL Apple Inc. - Common Stock	$79,100,620	10.46%	273,364	$8,984,015	Down ×6
TSM Taiwan Semiconductor Manufacturing Company Ltd.	$70,967,857	9.38%	148,602	$20,239,872	Down ×5
Unknown issuer (CUSIP: 02079k107)	$70,326,803	9.30%	199,040	$12,748,838	Down ×6
AMZN Amazon.com, Inc. - Common Stock	$58,676,448	7.76%	246,188	$5,123,775	Down ×6
Unknown issuer (CUSIP: 02079k305)	$55,623,965	7.36%	155,648	$8,956,684	Down ×6
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B	$52,544,953	6.95%	105,008	$2,146,531	Down ×6
Unknown issuer (CUSIP: 57636q104)	$51,080,602	6.75%	99,456	$1,878,582	Up ×1
Unknown issuer (CUSIP: 30303m102)	$47,834,024	6.33%	84,919	$-2,388,120	Down ×4
MSFT Microsoft Corporation - Common Stock	$45,812,824	6.06%	122,816	$-1,340,171	Down ×4
Unknown issuer (CUSIP: 74164m108)	$36,878,929	4.88%	129,764	$4,344,583	Down ×6
Unknown issuer (CUSIP: 98978v103)	$35,816,892	4.74%	498,426	$8,826,003	Up ×1
Unknown issuer (CUSIP: 91324p102)	$35,311,509	4.67%	84,959	$12,358,171	Up ×1
NVO Novo Nordisk A/S Common Stock	$22,972,081	3.04%	479,184	$-3,459,622	Down ×1
Unknown issuer (CUSIP: 45168d104)	$18,320,638	2.42%	34,801	$-962,865	Up ×1
Unknown issuer (CUSIP: 78409v104)	$16,745,309	2.21%	41,117	$-757,857	Down ×1
Unknown issuer (CUSIP: 64110l106)	$13,959,200	1.85%	195,507	$13,401,530	Up ×1
Unknown issuer (CUSIP: 73278l105)	$13,024,659	1.72%	60,608	$-11,894,101	Down ×1
C Citigroup, Inc. Common Stock	$7,837,760	1.04%	56,000	$1,486,800
Unknown issuer (CUSIP: 30231g102)	$6,118,357	0.81%	44,751	$-1,581,492	Down ×2
TRV The Travelers Companies, Inc. Common Stock	$3,174,764	0.42%	9,617	$369,677
Unknown issuer (CUSIP: 01609w102)	$2,920,767	0.39%	30,431	$-295,149	Up ×1
Unknown issuer (CUSIP: 12572q105)	$2,628,981	0.35%	11,905
STEL Stellar Bancorp, Inc. Common Stock	$1,365,190	0.18%	34,720	$1,107,712	Up ×1
GLW Corning Incorporated Common Stock	$1,332,067	0.18%	5,215	$622,983
Unknown issuer (CUSIP: 78462f103)	$1,009,013	0.13%	1,351
HBAN Huntington Bancshares Incorporated - Common Stock	$919,318	0.12%	51,851	$107,850
Unknown issuer (CUSIP: 92826c839)	$864,244	0.11%	2,519	$108,040	Up ×3
Unknown issuer (CUSIP: 65339f101)	$615,794	0.08%	7,016	$-35,852
JNJ Johnson & Johnson Common Stock	$462,987	0.06%	1,823	$17,373
Unknown issuer (CUSIP: 75513e101)	$371,112	0.05%	1,956	$-6,200
LUV Southwest Airlines Company Common Stock	$335,310	0.04%	6,521
Unknown issuer (CUSIP: 58933y105)	$317,267	0.04%	2,469	$20,271
CVX Chevron Corporation Common Stock	$289,251	0.04%	1,745	$-71,790
Unknown issuer (CUSIP: 88160r101)	$265,399	0.04%	631
EMR Emerson Electric Company Common Stock	$224,316	0.03%	1,567
BHC Bausch Health Companies Inc. Common Stock	$208,480	0.03%	42,288	$-19,875
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
None	$864,244	0.11%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
Unknown issuer (CUSIP: 12572q105)	$2,628,981	11,905	0.35%
Unknown issuer (CUSIP: 78462f103)	$1,009,013	1,351	0.13%
LUV	$335,310	6,521	0.04%
Unknown issuer (CUSIP: 88160r101)	$265,399	631	0.04%
EMR	$224,316	1,567	0.03%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
TSM	Trimmed	-2K	+$20.2M
·	Trimmed	-2K	+$12.7M
·	Bought more	+132	+$12.4M
·	Trimmed	-63K	-$11.9M
AAPL	Trimmed	-3K	+$9.0M
·	Trimmed	-7K	+$9.0M
·	Bought more	+270K	+$8.8M
AMZN	Trimmed	-11K	+$5.1M
·	Trimmed	-124	+$4.3M
NVO	Trimmed	-240K	-$3.5M

1 position hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
ADYEY	June 30, 2026	1,265,437	$12,616,407	No longer tracked
LVMUY	June 30, 2026	103,466	$11,302,626	No longer tracked
NSRGY	June 30, 2026	30,523	$3,024,829	No longer tracked
PEP	June 30, 2026	4,481	$695,855	-7.2%
LUV	March 31, 2026	6,521	$269,513	11.4%
EMR	March 31, 2026	1,636	$217,130	23.9%
APD	March 31, 2026	845	$208,732	-3.8%
PFE	March 31, 2026	2,050	$51,045	-2.4%
F	June 30, 2026	1,551	$17,899	-12.6%