ACADEMY CAPITAL MANAGEMENT

Q3 2025 13F-HR Holdings

Location
Waco, TX
Holdings as of
9/30/2025
Date filed
12/12/2025
Form type
13F-HR
Num holdings
41
Total value ($000)
$701,422
Net value change ($000)
+1,307 (0.2%)
New positions
1
Sold out positions
0
Turnover %
1.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/1/2025 Next filing: 2/2/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ZTS 12,908 NEW
GOOGL 11,333 28.5%
GOOGL 10,368 33.6%
AAPL 10,033 15.8%
TSM 7,940 22.4%
XOM 3,717 279.1%
IDXX 3,469 18.1%
BABA 1,840 56.6%
BRK-B 1,312 2.5%
C 702 12.5%
Top Reduces (Value $000, Stocks/ETFs)
UNH -28,680 -49.0%
NSRGY -6,294 -66.3%
PEP -5,850 -74.8%
NVO -4,891 -19.3%
META -4,301 -6.1%
MSFT -3,793 -5.3%
LVMUY -3,493 -19.8%
MA -2,191 -3.6%
AMZN -1,910 -3.2%
SPGI -875 -8.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type