# ACADEMY CAPITAL MANAGEMENT

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1031972. Source: https://holderbook.com/funds/1031972-academy-capital-management/

- Reported value: $756.3M
- Positions: 36
- Weight of the ten largest: 75.2%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $79.1M | 273,364 | 10.5% | 20 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $71.0M | 148,602 | 9.4% | 17 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $70.3M | 199,040 | 9.3% | 20 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $58.7M | 246,188 | 7.8% | 22 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $55.6M | 155,648 | 7.4% | 22 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $52.5M | 105,008 | 6.9% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $51.1M | 99,456 | 6.8% | 20 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $47.8M | 84,919 | 6.3% | 20 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $45.8M | 122,816 | 6.1% | 20 |
| PRIMERICA INC | [PRI](https://holderbook.com/stocks/PRI/) | $36.9M | 129,764 | 4.9% | 31 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $35.8M | 498,426 | 4.7% | 4 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $35.3M | 84,959 | 4.7% | 19 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $23.0M | 479,184 | 3.0% | 7 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $18.3M | 34,801 | 2.4% | 20 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $16.7M | 41,117 | 2.2% | 25 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $14.0M | 195,507 | 1.8% | 13 |
| POOL CORP | [POOL](https://holderbook.com/stocks/POOL/) | $13.0M | 60,608 | 1.7% | 13 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $7.8M | 56,000 | 1.0% | 20 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $6.1M | 44,751 | 0.8% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $3.2M | 9,617 | 0.4% | 22 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $2.9M | 30,431 | 0.4% | 21 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $2.6M | 11,905 | 0.3% | 1 |
| STELLAR BANCORP INC | [STEL](https://holderbook.com/stocks/STEL/) | $1.4M | 34,720 | 0.2% | 15 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $1.3M | 5,215 | 0.2% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.0M | 1,351 | 0.1% | 1 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $919.3K | 51,851 | 0.1% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $864.2K | 2,519 | 0.1% | 11 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $615.8K | 7,016 | 0.1% | 17 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $463.0K | 1,823 | 0.1% | 7 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $371.1K | 1,956 | 0.0% | 7 |
| SOUTHWEST AIRLS CO | [LUV](https://holderbook.com/stocks/LUV/) | $335.3K | 6,521 | 0.0% | 1 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $317.3K | 2,469 | 0.0% | 7 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $289.3K | 1,745 | 0.0% | 7 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $265.4K | 631 | 0.0% | 1 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $224.3K | 1,567 | 0.0% | 1 |
| BAUSCH HEALTH COS INC | [BHC](https://holderbook.com/stocks/BHC/) | $208.5K | 42,288 | 0.0% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.4% | +14.8% | -3.4% | 100% |
| Q1 2026 | -9.5% | -4.6% | -4.9% | 100% |
| Q4 2025 | +3.5% | +2.4% | +1.2% | 100% |
| Q3 2025 | +9.5% | +7.8% | +1.7% | 100% |
| Q2 2025 | +8.8% | +10.5% | -1.7% | 100% |
| Q1 2025 | -4.2% | -4.6% | +0.4% | 100% |
| Q4 2024 | +3.5% | +2.1% | +1.4% | 100% |
| Q3 2024 | +4.5% | +5.4% | -0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $756.3M | 36 |
| Q1 2026 | $699.4M | 37 |
| Q4 2025 | $752.5M | 41 |
| Q3 2025 | $701.4M | 41 |
| Q2 2025 | $700.1M | 40 |
| Q1 2025 | $579.5M | 39 |
| Q4 2024 | $611.9M | 41 |
| Q3 2024 | $577.4M | 32 |
| Q2 2024 | $554.2M | 34 |
| Q1 2024 | $528.5M | 32 |
| Q4 2023 | $492.2M | 34 |
| Q3 2023 | $471.6M | 32 |