M.D. Sass, LLC

CIK 922940 · View on SEC EDGAR ↗

Portfolio value QoQ: +16.0% 13F does not disclose cash

Top 10 holdings weight53.17%

Top 25 holdings weight95.50%

Positions above 1%24

Effective number of positions23.4

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

Turnover Q2 2026: 25.53% Est. buys $450,708,932 · sells $363,700,960

Median holding: 4.0 quarters Tracked Q1 2025–Q2 2026 · 63.9% still held

New positions10

Increased12

Decreased13

Closed7

Put-notional exposure: 1.3% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets

Portfolio value $1.5B #1,915 of 9,337 by 13F value · top 20.5%

Positions 39

As of June 30, 2026 Data as of Q2 2026

Performance vs S&P 500

Tracked Q1 2025–Q2 2026 +28.4%

S&P 500 total return (same window) +37.0%

Excess return -8.6%

Annualized: +22.2% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 98.2% · Options excluded: 0.0%

Sector breakdown

Industrials 36.3%

Technology 15.5%

Health Care 12.5%

Retail 6.2%

Energy 5.3%

Consumer Staples 5.0%

Financials 5.0%

Consumer products 4.3%

Real Estate 3.5%

Communication Services 0.2%

Other/Unmapped 6.1%

Full portfolio 39 positions

				Type		Streak
HSIC Henry Schein, Inc. - Common Stock	$107,485,396	7.02%	1,286,942		$13,642,007	Up ×2
AMZN Amazon.com, Inc. - Common Stock	$95,264,975	6.23%	399,702		$40,287,318	Up ×3
WMB Williams Companies, Inc. (The) Common Stock	$80,850,834	5.28%	1,087,582		$-4,587,083	Down ×2
CLH Clean Harbors, Inc. Common Stock	$80,813,966	5.28%	270,507		$8,403,172	Up ×1
AME AMETEK, Inc.	$80,655,630	5.27%	333,370		$3,101,299	Down ×2
PRMB Primo Brands Corporation Class A Common Stock	$76,793,752	5.02%	3,142,134		$13,091,548	Down ×2
DGX Quest Diagnostics Incorporated Common Stock	$76,397,960	4.99%	360,453		$17,709,985	Up ×1
COF Capital One Financial Corporation Common Stock	$72,936,686	4.77%	363,556		$19,502,694	Up ×3
Unknown issuer (CUSIP: 75526L613)	$72,218,902	4.72%	2,854,897		$5,289,049	Down ×1
SARO StandardAero, Inc. Common Stock	$70,191,263	4.59%	2,346,749		$14,665,029	Up ×3
SGI Somnigroup International Inc. Common Stock	$65,563,215	4.28%	836,265		$18,080,401	Up ×4
CHRW C.H. Robinson Worldwide, Inc. - Common Stock	$64,687,376	4.23%	343,461		$27,161,535	Up ×1
MLM Martin Marietta Materials, Inc. Common Stock	$62,001,777	4.05%	107,511		$1,303,753	Up ×2
ADI Analog Devices, Inc. - Common Stock	$61,503,310	4.02%	154,854			Up ×1
WELL Welltower Inc. Common Stock	$53,990,658	3.53%	237,876		$3,457,600	Down ×4
SNDK Sandisk Corporation - Common Stock	$49,949,301	3.26%	21,968			Up ×1
SNX TD SYNNEX Corporation Common Stock	$49,776,837	3.25%	186,193			Up ×1
KNX Knight-Swift Transportation Holdings Inc.	$47,936,426	3.13%	615,596			Up ×1
FLS Flowserve Corporation Common Stock	$47,062,900	3.08%	634,613			Up ×1
APG APi Group Corporation Common Stock	$37,802,605	2.47%	892,624		$-18,262,285	Down ×2
ENTG Entegris, Inc. - Common Stock	$28,331,008	1.85%	157,517			Up ×1
Q Qnity Electronics, Inc. Common Stock	$26,413,269	1.73%	161,737			Up ×1
MRVL Marvell Technology, Inc. - Common Stock	$20,226,433	1.32%	67,899		$12,621,572	Down ×1
MRVL Marvell Technology, Inc. - Common Stock	$20,137,364	1.32%	67,600	Put option		Up ×1
PANW Palo Alto Networks, Inc. - Common Stock	$12,237,503	0.80%	35,885		$4,138,778	Down ×1
APH Amphenol Corporation Common Stock	$11,268,082	0.74%	63,907		$4,169,486	Up ×1
SPY SPY	$8,916,434	0.58%	11,940		$1,476,544	Up ×1
DHR Danaher Corporation Common Stock	$7,986,064	0.52%	41,926		$-30,161,659	Down ×3
IWD iShares Trust	$7,649,636	0.50%	31,554		$601,945	Down ×1
GWRE Guidewire Software, Inc. Common Stock	$6,793,344	0.44%	55,208		$-1,463,564
CDNS Cadence Design Systems, Inc. - Common Stock	$4,836,749	0.32%	12,887		$1,255,838
ACWX iShares MSCI ACWI ex U.S. ETF	$4,364,147	0.29%	57,340		$438,077
GOOGL Alphabet Inc. - Class A Common Stock	$3,760,605	0.25%	10,523		$1,738,771	Up ×1
ICE Intercontinental Exchange Inc. Common Stock	$3,502,480	0.23%	28,450		$-55,378,067	Down ×1
MU Micron Technology, Inc. - Common Stock	$2,963,062	0.19%	2,567			Up ×1
BWXT BWX Technologies, Inc. Common Stock	$2,618,626	0.17%	13,453		$-132,378
MSFT Microsoft Corporation - Common Stock	$2,087,420	0.14%	5,596		$-1,506,190	Down ×1
NVDA NVIDIA Corporation - Common Stock	$1,929,268	0.13%	9,642			Up ×1
PWR Quanta Services, Inc. Common Stock	$239,053	0.02%	332		$-34,591,621	Down ×2
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
AMZN	$95,264,975	6.23%	up ×3
COF	$72,936,686	4.77%	up ×3
SARO	$70,191,263	4.59%	up ×3
SGI	$65,563,215	4.28%	up ×4

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
ADI	$61,503,310	154,854	4.02%
SNDK	$49,949,301	21,968	3.26%
SNX	$49,776,837	186,193	3.25%
KNX	$47,936,426	615,596	3.13%
FLS	$47,062,900	634,613	3.08%
ENTG	$28,331,008	157,517	1.85%
Q	$26,413,269	161,737	1.73%
MRVL	$20,137,364	67,600	1.32%
MU	$2,963,062	2,567	0.19%
NVDA	$1,929,268	9,642	0.13%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
AMZN	Bought more	+136K	+$40.3M
DHR	Trimmed	-159K	-$30.2M
CHRW	Bought more	+117K	+$27.2M
COF	Bought more	+71K	+$19.5M
APG	Trimmed	-491K	-$18.3M
SGI	Bought more	+194K	+$18.1M
DGX	Bought more	+61K	+$17.7M
SARO	Bought more	+197K	+$14.7M
HSIC	Bought more	+14K	+$13.6M
PRMB	Trimmed	-241K	+$13.1M

2 positions 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
CP	Dec. 31, 2025	745,376	$55,523,075	16.7%
STE	March 31, 2026	205,936	$52,208,848	-5.7%
FICO	June 30, 2026	44,221	$47,207,686	-44.7%
AON	June 30, 2026	142,362	$45,951,596	-18.8%
CBRE	June 30, 2026	290,485	$39,349,098	-3.8%
SLM	March 31, 2026	1,399,804	$37,878,703	6.2%
JBL	June 30, 2025	260,953	$35,507,819	39.6%
ALC	March 31, 2026	431,003	$33,967,346	-15.4%
SNPS	June 30, 2026	76,822	$30,458,387	9.8%
CCK	Dec. 31, 2025	297,562	$28,741,475	3.0%
JPM	June 30, 2025	108,585	$26,635,863	14.6%
GIL	June 30, 2026	396,504	$22,065,448	-20.5%
WD	June 30, 2025	253,435	$21,633,250	-51.8%
VOO	June 30, 2025	40,830	$20,982,945
IWD	Sept. 30, 2025	60,000	$11,653,800
IWM	June 30, 2025	40,000	$7,979,600	30.7%
CACI	June 30, 2026	9,316	$5,066,693	32.8%
EQH	Dec. 31, 2025	93,773	$4,761,793	10.5%
HYG	Dec. 31, 2025	30,000	$2,435,700
OWL	March 31, 2026	158,065	$2,361,498	-0.5%
IBIT	Sept. 30, 2025	34,631	$2,119,764
FWONK	March 31, 2026	10,047	$989,730	7.3%
HYG	June 30, 2026	12,400	$986,544
FICO	Sept. 30, 2025	362	$661,722	-55.8%