Cheviot Value Management, LLC

CIK 1427147 · View on SEC EDGAR ↗

Portfolio value QoQ: -1.2% 13F does not disclose cash

Top 10 holdings weight56.28%

Top 25 holdings weight82.04%

Positions above 1%25

Effective number of positions21.6

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

Turnover Q2 2026: 3.27% Est. buys $32,349,440 · sells $39,334,316

Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 82.3% still held

New positions27

Increased73

Decreased75

Closed10

Portfolio value $984.0M #2,557 of 9,337 by 13F value · top 27.4%

Positions 442

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Financials 19.0%

Materials 11.0%

Communication Services 10.7%

Healthcare 9.5%

Technology 5.2%

Energy 3.6%

Retail 2.4%

Consumer products 2.3%

Industrials 0.7%

Consumer Discretionary 0.5%

Consumer Staples 0.4%

Real Estate 0.1%

Utilities 0.0%

Other/Unmapped 34.5%

Full portfolio 442 positions

Search positions by ticker or company name

					Streak
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B	$118,927,691	12.09%	237,670	$5,033,831	Down ×1
SGOV iShares Trust	$100,923,257	10.26%	1,002,516	$-6,582,476	Down ×1
AEM Agnico Eagle Mines Limited Common Stock	$63,566,224	6.46%	409,761	$-19,876,621	Down ×5
GOOGL Alphabet Inc. - Class A Common Stock	$56,814,582	5.77%	158,980	$8,993,482	Down ×5
TOTL SSGA Active Trust	$53,997,015	5.49%	1,368,052	$-821,960	Down ×1
JNJ Johnson & Johnson Common Stock	$39,287,774	3.99%	154,695	$336,699	Down ×5
LQD iShares Trust	$35,329,944	3.59%	323,920	$-843,057	Down ×1
TDTF FlexShares Trust	$32,632,857	3.32%	1,372,859	$-218,802	Up ×5
V Visa Inc.	$27,586,720	2.80%	80,407	$3,952,624	Up ×3
META Meta Platforms, Inc. - Class A Common Stock	$24,682,263	2.51%	43,818	$1,511,145	Up ×1
CEF Sprott Physical Gold and Silver Trust Units	$22,816,847	2.32%	567,160	$-4,566,893	Down ×5
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share)	$22,093,837	2.25%	367,496	$3,186,292	Up ×1
MRK Merck & Company, Inc. Common Stock (new)	$21,984,258	2.23%	171,084	$1,358,155	Down ×1
MSFT Microsoft Corporation - Common Stock	$21,555,839	2.19%	57,787	$194,066	Up ×2
NEM Newmont Corporation	$20,401,703	2.07%	218,434	$-3,727,127	Down ×5
AMZN Amazon.com, Inc. - Common Stock	$19,477,383	1.98%	81,721	$2,669,786	Up ×6
Unknown issuer (CUSIP: 30233Q108)	$17,037,514	1.73%	124,616		Up ×1
MKL Markel Group Inc. Common Stock	$15,567,443	1.58%	7,971	$2,255,086	Up ×3
CMCSA Comcast Corporation - Class A Common Stock	$15,396,353	1.56%	627,143	$-1,538,096	Up ×5
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A	$14,977,000	1.52%	20	$614,200
PFE Pfizer, Inc. Common Stock	$14,751,638	1.50%	612,610	$-2,394,109	Up ×4
CVX Chevron Corporation Common Stock	$13,652,383	1.39%	82,362	$-3,499,840	Down ×2
COP ConocoPhillips Common Stock	$12,433,879	1.26%	119,603	$-3,478,574	Down ×1
B Barrick Mining Corporation Common Shares	$11,344,979	1.15%	308,875	$-1,668,255	Down ×4
AAPL Apple Inc. - Common Stock	$9,978,164	1.01%	34,484	$1,212,431	Down ×4
QQQ Invesco QQQ Trust, Series 1	$8,827,518	0.90%	11,987	$1,862,872	Down ×1
ABBV AbbVie Inc. Common Stock	$7,019,359	0.71%	27,894	$912,187	Down ×5
DEM WisdomTree Trust	$6,858,882	0.70%	127,512	$527,069	Up ×2
AGI Alamos Gold Inc. Class A Common Shares	$6,594,429	0.67%	217,351	$-2,752,577	Up ×6
IBDW iShares Trust	$6,212,623	0.63%	298,110	$-69,100	Down ×1
IBDT iShares Trust	$6,182,483	0.63%	244,851	$-184,011	Down ×1
PAAS Pan American Silver Corp. Common Stock	$5,823,827	0.59%	130,025	$-1,384,610	Down ×5
OAKM Harris Oakmark ETF Trust	$5,436,106	0.55%	192,975	$719,458	Up ×5
SCHO SCHWAB STRATEGIC TRUST	$5,144,396	0.52%	213,107	$1,925,434	Up ×3
FNDE SCHWAB STRATEGIC TRUST	$5,128,612	0.52%	129,249	$113,782	Down ×1
OXY Occidental Petroleum Corporation Common Stock	$4,692,671	0.48%	96,617	$-1,778,447	Down ×4
GDX VanEck ETF Trust	$4,310,459	0.44%	57,130	$-950,257	Down ×5
CVS CVS Health Corporation Common Stock	$4,303,207	0.44%	41,597	$1,261,107	Down ×6
SNDK Sandisk Corporation - Common Stock	$3,851,699	0.39%	1,694	$2,738,583	Down ×3
AMAT Applied Materials, Inc. - Common Stock	$3,713,328	0.38%	5,136	$1,949,350	Down ×1
PSX Phillips 66 Common Stock	$3,697,978	0.38%	21,875	$-370,910	Down ×1
AGG iShares Trust	$3,546,003	0.36%	35,825	$76,030	Up ×2
VOO VANGUARD INDEX FUNDS	$3,543,328	0.36%	5,159	$508,577	Up ×5
LBRDK Liberty Broadband Corporation - Class C Common Stock	$3,279,203	0.33%	98,593	$-3,092,700	Down ×1
GOVT iShares Trust	$3,253,370	0.33%	142,817	$388,483	Up ×5
NVDA NVIDIA Corporation - Common Stock	$2,820,533	0.29%	14,096	$429,311	Up ×2
PID Invesco International Dividend Achievers ETF	$2,719,555	0.28%	122,502	$4,604	Up ×1
WDC Western Digital Corporation - Common Stock	$2,708,173	0.28%	4,240	$1,541,009	Down ×4
JPM JP Morgan Chase & Co. Common Stock	$2,708,001	0.28%	8,273	$303,831	Up ×1
SMH SMH	$2,525,177	0.26%	3,850	$953,237	Down ×1
BSV VANGUARD BOND INDEX FUNDS	$2,000,050	0.20%	25,671	$-30,947	Down ×5
PM Philip Morris International Inc Common Stock	$1,730,640	0.18%	9,566	$149,522	Up ×1
GOOG Alphabet Inc. - Class C Capital Stock	$1,690,901	0.17%	4,786	$313,542	Down ×3
COST Costco Wholesale Corporation - Common Stock	$1,606,856	0.16%	1,718	$-75,755	Up ×1
GLW Corning Incorporated Common Stock	$1,574,543	0.16%	6,164	$722,873	Down ×1
URNM Sprott Uranium Miners ETF	$1,437,285	0.15%	27,330	$-288,605
AMGN Amgen Inc. - Common Stock	$1,409,371	0.14%	3,892	$85,711	Up ×1
VZ Verizon Communications Inc. Common Stock	$1,396,287	0.14%	32,978	$-274,209	Down ×5
ABT Abbott Laboratories Common Stock	$1,234,523	0.13%	13,605	$-162,821	Down ×1
INTC Intel Corporation - Common Stock	$1,153,204	0.12%	8,259	$786,307	Down ×1
XBI SPDR SERIES TRUST	$1,139,400	0.12%	7,200	$232,517	Up ×1
MS Morgan Stanley Common Stock	$992,940	0.10%	4,750	$244,146	Up ×5
MCD McDonald's Corporation Common Stock	$903,646	0.09%	3,343	$-135,325
SPY SPY	$864,425	0.09%	1,158	$-242,100	Down ×1
CDNS Cadence Design Systems, Inc. - Common Stock	$854,604	0.09%	2,277	$219,115	Down ×1
CAH Cardinal Health, Inc. Common Stock	$843,338	0.09%	3,550	$-23,033	Down ×1
TSLA Tesla, Inc. - Common Stock	$843,303	0.09%	2,005	$97,944
VUSB VANGUARD BOND INDEX FUNDS	$836,553	0.09%	16,805	$-84
ITA iShares Trust	$836,107	0.08%	3,449	$256,638	Up ×1
BAC Bank of America Corporation Common Stock	$793,845	0.08%	13,932	$107,542	Down ×1
MICC The Magnum Ice Cream Company N.V. Ordinary Shares	$766,319	0.08%	44,016	$-300,079	Down ×2
DVN Devon Energy Corporation Common Stock	$745,875	0.08%	18,051	$-356,584	Down ×6
Unknown issuer (CUSIP: 84615Q103)	$728,718	0.07%	4,265		Up ×1
LLY Eli Lilly and Company Common Stock	$696,869	0.07%	581	$162,483
SPG Simon Property Group, Inc. Common Stock	$685,487	0.07%	3,065	$113,773
WFC Wells Fargo & Company Common Stock	$656,988	0.07%	7,950	$-99,307	Down ×1
QCOM QUALCOMM Incorporated - Common Stock	$643,069	0.07%	3,480	$207,793	Up ×2
CAT Caterpillar, Inc. Common Stock	$620,837	0.06%	583	$200,720	Down ×1
SNPS Synopsys, Inc. - Common Stock	$614,238	0.06%	1,377	$66,303	Down ×4
MMM 3M Company Common Stock	$612,829	0.06%	3,785	$-42,158	Down ×1
RTX RTX Corporation Common Stock	$610,425	0.06%	3,217	$-9,470	Up ×2
CSCO Cisco Systems, Inc. - Common Stock	$590,706	0.06%	5,029	$231,542	Up ×2
MO Altria Group, Inc.	$576,685	0.06%	8,015	$48,248	Up ×1
MA Mastercard Incorporated Common Stock	$566,501	0.06%	1,103	$15,376
TXN Texas Instruments Incorporated - Common Stock	$565,141	0.06%	1,896	$193,169	Down ×1
HD Home Depot, Inc. (The) Common Stock	$564,288	0.06%	1,600	$120,286	Up ×1
VT VANGUARD INTERNATIONAL EQUITY INDEX FUNDS	$560,468	0.06%	3,571	$66,527
GS Goldman Sachs Group, Inc. (The) Common Stock	$539,060	0.05%	533	$88,147
MDT Medtronic plc. Ordinary Shares	$538,457	0.05%	6,883	$-89,929	Down ×5
MU Micron Technology, Inc. - Common Stock	$530,973	0.05%	460	$453,270	Up ×1
TGT Target Corporation Common Stock	$514,734	0.05%	3,941	$43,145	Up ×1
ORCL Oracle Corporation Common Stock	$513,492	0.05%	3,504	$-1,940
COR Cencora, Inc. Common Stock	$503,138	0.05%	1,778	$-58,544	Down ×1
NSC Norfolk Southern Corporation Common Stock	$482,896	0.05%	1,535	$42,351
F Ford Motor Company Common Stock	$453,071	0.05%	32,595	$76,925
VGT VANGUARD WORLD FUND	$440,790	0.04%	3,688	$119,141	Up ×1
BTI British American Tobacco Industries, p.l.c. Common Stock ADR	$438,187	0.04%	7,095	$23,342
VUG VANGUARD INDEX FUNDS	$437,763	0.04%	5,082	$67,802	Up ×1
RGA Reinsurance Group of America, Incorporated Common Stock	$435,933	0.04%	2,050	$17,405
ROST Ross Stores, Inc. - Common Stock	$425,700	0.04%	2,000	$-7,560
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
TDTF	$32,632,857	3.32%	up ×5
V	$27,586,720	2.80%	up ×3
AMZN	$19,477,383	1.98%	up ×6
MKL	$15,567,443	1.58%	up ×3
CMCSA	$15,396,353	1.56%	up ×5
PFE	$14,751,638	1.50%	up ×4
AGI	$6,594,429	0.67%	up ×6
OAKM	$5,436,106	0.55%	up ×5
SCHO	$5,144,396	0.52%	up ×3
VOO	$3,543,328	0.36%	up ×5
GOVT	$3,253,370	0.33%	up ×5
MS	$992,940	0.10%	up ×5
VLO	$303,527	0.03%	up ×5
BLDR	$279,625	0.03%	up ×5
SCHD	$141,581	0.01%	up ×5

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
Unknown issuer (CUSIP: 30233Q108)	$17,037,514	124,616	1.73%
Unknown issuer (CUSIP: 84615Q103)	$728,718	4,265	0.07%
OMC	$339,388	4,660	0.03%
Unknown issuer (CUSIP: 438516205)	$96,725	432	0.01%
Unknown issuer (CUSIP: 43849R105)	$95,507	432	0.01%
GCOW	$43,300	1,000	0.00%
LNT	$38,145	500	0.00%
AA	$26,070	500	0.00%
MDLZ	$23,136	400	0.00%
UVV	$20,868	400	0.00%
REGN	$18,706	30	0.00%
SXT	$12,329	100	0.00%
WPM	$11,232	100	0.00%
OLED	$10,824	125	0.00%
CHAT	$9,868	100	0.00%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
AEM	Trimmed	-1K	-$19.9M
GOOGL	Trimmed	-7K	+$9.0M
SGOV	Trimmed	-65K	-$6.6M
BRK-B (filed as BRKB)	Trimmed	-5	+$5.0M
CEF	Trimmed	-7K	-$4.6M
V	Bought more	+2K	+$4.0M
NEM	Trimmed	-4K	-$3.7M
CVX	Trimmed	-539	-$3.5M
COP	Trimmed	-946	-$3.5M
UL	Bought more	+36K	+$3.2M

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
UL (filed as ULXXXX)	Dec. 31, 2025	377,270	$23,360,568	-8.7%
XOM	June 30, 2026	125,802	$21,343,504	20.0%
GOLD	June 30, 2025	703,633	$13,115,719	90.7%
SIG	Dec. 31, 2025	7,515	$772,918	21.4%
CHTR	Dec. 31, 2025	1,836	$456,944	-47.6%
ETSY	Dec. 31, 2025	6,015	$449,802	31.3%
ALK	Dec. 31, 2025	9,400	$404,200	-21.4%
NE	Dec. 31, 2025	11,455	$343,077	44.1%
UPS	Dec. 31, 2025	2,555	$246,200	-6.2%
CPRI	Dec. 31, 2025	10,355	$229,985	-40.8%
VOOG	March 31, 2026	435	$197,120
HON	June 30, 2026	822	$185,797	-4.4%
NGD	March 31, 2026	14,600	$183,522	No longer tracked
ITDI	Dec. 31, 2025	4,352	$165,754
VONG	Dec. 31, 2025	819	$103,096
MELI	Dec. 31, 2025	21	$48,093	-15.8%
SOLV	Dec. 31, 2025	587	$41,630	10.9%
XLRE	June 30, 2025	900	$37,692	No longer tracked
LUV	June 30, 2025	1,250	$37,600	30.9%
SRE	Dec. 31, 2025	300	$27,765	-11.2%
CRH	March 31, 2026	221	$27,064	-22.1%
FDX	Dec. 31, 2025	100	$24,955	0.5%
RKLB (filed as RKLBXXXX)	June 30, 2025	1,100	$24,728	106.7%
ADM	Dec. 31, 2025	400	$24,548	39.9%
ED	Dec. 31, 2025	200	$19,710	4.1%
OXLC (filed as OXLCXXXX)	June 30, 2025	4,000	$18,720	112.1%
SMA	Dec. 31, 2025	497	$18,513	5.1%
MUC	June 30, 2026	1,718	$17,867	-11.4%
K	Dec. 31, 2025	200	$16,618	No longer tracked
AMD	June 30, 2025	165	$16,597	346.7%
ECC	June 30, 2025	2,000	$15,940	-54.8%
WH	Dec. 31, 2025	200	$14,476	-5.0%
TNL	Dec. 31, 2025	200	$12,930	-10.8%
NOW	June 30, 2025	11	$10,759	-34.6%
ZBH	Dec. 31, 2025	100	$10,114	-1.8%
PDI	June 30, 2025	500	$9,425	-24.1%
UTF	Dec. 31, 2025	353	$8,398	4.4%
GM	June 30, 2026	100	$7,450	1.5%
UBER	June 30, 2025	83	$7,091	-27.0%
DD	Dec. 31, 2025	85	$6,962	223.3%
AJG	June 30, 2025	20	$6,697	-29.4%
CTRA	Sept. 30, 2025	250	$6,005	No longer tracked
DOCU	Dec. 31, 2025	80	$5,656	0.9%
CTVA	Dec. 31, 2025	85	$5,394	-82.2%
MRVL	June 30, 2025	84	$5,206	251.8%
MPWR	June 30, 2025	8	$5,019	96.9%
CMG	June 30, 2025	100	$5,001	-42.4%
HTD	Dec. 31, 2025	200	$4,900	-6.0%
SAP	June 30, 2025	16	$4,842	-31.4%
OTIS	Dec. 31, 2025	50	$4,565	-26.7%
FTV	June 30, 2025	67	$4,529	10.2%
VRSK	June 30, 2025	15	$4,421	-47.4%
AGNC	June 30, 2025	500	$4,380	-4.4%
ECL	June 30, 2025	16	$4,082	1.6%
DT	June 30, 2025	77	$3,664	7.4%
SONY	June 30, 2025	135	$3,407	-8.5%
LH	Dec. 31, 2025	13	$3,376	23.0%
JD	Sept. 30, 2025	96	$3,023	-26.3%
IT	June 30, 2025	7	$2,989	-54.3%
NVO	June 30, 2025	38	$2,627	-45.9%
HLN	June 30, 2025	247	$2,626	-15.1%
MFG	Sept. 30, 2025	418	$2,617	62.5%
ASTS	June 30, 2025	100	$2,475	25.1%
DJT	June 30, 2025	100	$2,426	-50.6%
DOW	Dec. 31, 2025	85	$2,157	19.6%
RC	Dec. 31, 2025	653	$2,077	-48.2%
UPST	Dec. 31, 2025	39	$1,977	-47.8%
ARGX	June 30, 2025	3	$1,970	66.8%
CCL	June 30, 2025	100	$1,956	-8.4%
ALC	June 30, 2025	20	$1,948	-27.8%
TRI	June 30, 2025	10	$1,857	-51.5%
PDYN	Dec. 31, 2025	235	$1,849	25.1%
RDFN	June 30, 2025	200	$1,844	No longer tracked
VNQ	Dec. 31, 2025	20	$1,817
GNPX	June 30, 2026	1,000	$1,810	406.7%
LIN	June 30, 2025	4	$1,810	2.2%
WBD	Dec. 31, 2025	72	$1,511	7.4%
BTFX	Dec. 31, 2025	26	$1,380	No longer tracked
CI	June 30, 2026	5	$1,334	-1.9%
SAN	Sept. 30, 2025	125	$1,164	27.5%
KLG	Sept. 30, 2025	50	$1,154	No longer tracked
KD	Dec. 31, 2025	32	$923	-56.5%
FLO	June 30, 2026	100	$815	-29.5%
ARES	June 30, 2025	4	$643	-32.1%
CC	Dec. 31, 2025	40	$554	16.3%
LSF	March 31, 2026	122	$403	No longer tracked
SUB	Sept. 30, 2025	3	$320
AFRM	June 30, 2026	5	$229	-13.2%
ZIMV	Sept. 30, 2025	10	$188	No longer tracked
GHLD	Sept. 30, 2025	8	$160	No longer tracked
NVAX	June 30, 2025	15	$94	66.0%
HYLN	Sept. 30, 2025	60	$92	No longer tracked
GLIBA	June 30, 2026	1	$37	5.8%
VXRT	June 30, 2025	85	$35	No longer tracked
KALA	June 30, 2026	153	$26	-77.7%
LCID (filed as LCIDXXXX)	Sept. 30, 2025	5	$11	-82.6%