# Wallace Capital Management Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1459754. Source: https://holderbook.com/funds/1459754-wallace-capital-management-inc/

- Reported value: $912.1M
- Positions: 77
- Weight of the ten largest: 75.9%
- Filed: 2026-08-14

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 |
|---|---|---|---|---|---|
| GRAHAM HLDGS CO | [GHC](https://holderbook.com/stocks/GHC/) | $178.5M | 156,376 | 19.6% | 31 |
| WHITE MTNS INS GROUP LTD | [WTM](https://holderbook.com/stocks/WTM/) | $166.0M | 80,067 | 18.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $131.8M | 263,465 | 14.5% | 31 |
| PEOPLE INC | [PPLI](https://holderbook.com/stocks/PPLI/) | $52.1M | 1,127,772 | 5.7% | 4 |
| U HAUL HOLDING COMPANY | [UHALB](https://holderbook.com/stocks/UHALB/) | $32.2M | 557,360 | 3.5% | 2 |
| SEABOARD CORP DEL | [SEB](https://holderbook.com/stocks/SEB/) | $30.7M | 6,871 | 3.4% | 6 |
| LOEWS CORP | [L](https://holderbook.com/stocks/L/) | $27.7M | 244,525 | 3.0% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $26.7M | 105,306 | 2.9% | 31 |
| MOHAWK INDS INC | [MHK](https://holderbook.com/stocks/MHK/) | $26.5M | 218,805 | 2.9% | 26 |
| AFFILIATED MANAGERS GROUP | [AMG](https://holderbook.com/stocks/AMG/) | $19.7M | 58,334 | 2.2% | 28 |
| MOLSON COORS BEVERAGE CO | [TAP](https://holderbook.com/stocks/TAP/) | $17.4M | 445,346 | 1.9% | 8 |
| INGLES MKTS INC | [IMKTA](https://holderbook.com/stocks/IMKTA/) | $17.0M | 192,195 | 1.9% | 4 |
| CNX RES CORP | [CNX](https://holderbook.com/stocks/CNX/) | $16.9M | 496,627 | 1.8% | 17 |
| POST HLDGS INC | [POST](https://holderbook.com/stocks/POST/) | $16.5M | 186,530 | 1.8% | 24 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $16.5M | 77,246 | 1.8% | 31 |
| LIBERTY GLOBAL LTD | [LBTYA](https://holderbook.com/stocks/LBTYA/) | $15.3M | 1,342,309 | 1.7% | 11 |
| HEARTLAND EXPRESS INC | [HTLD](https://holderbook.com/stocks/HTLD/) | $14.7M | 965,007 | 1.6% | 4 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $14.2M | 197,251 | 1.6% | 29 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $12.1M | 200,651 | 1.3% | 3 |
| JOHNSON OUTDOORS INC | [JOUT](https://holderbook.com/stocks/JOUT/) | $11.4M | 248,207 | 1.3% | 25 |
| LIBERTY CAP CORP | [GLIBK](https://holderbook.com/stocks/GLIBK/) | $10.6M | 492,557 | 1.2% | 4 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $3.8M | 12,969 | 0.4% | 23 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $3.5M | 24,139 | 0.4% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.3M | 9,462 | 0.4% | 13 |
| LIBERTY GLOBAL LTD | [LBTYK](https://holderbook.com/stocks/LBTYK/) | $3.2M | 289,811 | 0.3% | 11 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $3.0M | 4 | 0.3% | 31 |
| U HAUL HOLDING COMPANY | [UHAL](https://holderbook.com/stocks/UHAL/) | $3.0M | 45,170 | 0.3% | 2 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $2.1M | 26,328 | 0.2% | 31 |
| LIBERTY BROADBAND CORP | [LBRDK](https://holderbook.com/stocks/LBRDK/) | $1.8M | 54,758 | 0.2% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.6M | 2,205 | 0.2% | 11 |
| SIRIUSXM HOLDINGS INC | [SIRI](https://holderbook.com/stocks/SIRI/) | $1.6M | 53,407 | 0.2% | 8 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.5M | 11,829 | 0.2% | 31 |
| TRIPADVISOR INC | [TRIP](https://holderbook.com/stocks/TRIP/) | $1.5M | 108,543 | 0.2% | 26 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $1.5M | 25,697 | 0.2% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.5M | 3,954 | 0.2% | 13 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.5M | 4,059 | 0.2% | 13 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.4M | 4,222 | 0.2% | 30 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.3M | 2,478 | 0.1% | 31 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $1.2M | 6,835 | 0.1% | 31 |
| LIBERTY LIVE HOLDINGS INC | [LLYVK](https://holderbook.com/stocks/LLYVK/) | $1.2M | 11,330 | 0.1% | 3 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.2M | 8,442 | 0.1% | 22 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.2M | 3,515 | 0.1% | 23 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $1.0M | 1,492 | 0.1% | 11 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $1.0M | 5,639 | 0.1% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $880.7K | 2,119 | 0.1% | 13 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $867.2K | 723 | 0.1% | 31 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $800.8K | 8,735 | 0.1% | 31 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $784.1K | 8,216 | 0.1% | 31 |
| CABLE ONE INC | [CABO](https://holderbook.com/stocks/CABO/) | $614.3K | 11,567 | 0.1% | 31 |
| HINGHAM INSTN SVGS MASS | [HIFS](https://holderbook.com/stocks/HIFS/) | $614.3K | 2,000 | 0.1% | 8 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $564.4K | 2,975 | 0.1% | 4 |
| PIPER SANDLER COMPANIES | [PIPR](https://holderbook.com/stocks/PIPR/) | $549.8K | 7,600 | 0.1% | 2 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $544.8K | 2,165 | 0.1% | 9 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $542.1K | 3,300 | 0.1% | 1 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $479.5K | 8,846 | 0.1% | 10 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $458.4K | 2,600 | 0.1% | 8 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $451.8K | 6,280 | 0.0% | 1 |
| KRAFT HEINZ CO | [KHC](https://holderbook.com/stocks/KHC/) | $434.1K | 18,377 | 0.0% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $424.0K | 1,171 | 0.0% | 3 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $394.2K | 1,760 | 0.0% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $363.8K | 2,195 | 0.0% | 10 |
| MACYS INC | [M](https://holderbook.com/stocks/M/) | $352.1K | 14,952 | 0.0% | 3 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $348.0K | 10,000 | 0.0% | 31 |
| MAGNUM ICE CREAM CO NV | [MICC](https://holderbook.com/stocks/MICC/) | $344.5K | 19,789 | 0.0% | 3 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $335.0K | 2,010 | 0.0% | 30 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $300.0K | 1,110 | 0.0% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $275.2K | 3,862 | 0.0% | 11 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $269.9K | 360 | 0.0% | 6 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $268.9K | 1,231 | 0.0% | 10 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $251.2K | 4,567 | 0.0% | 4 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $250.9K | 341 | 0.0% | 1 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $230.4K | 2,860 | 0.0% | 6 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $225.6K | 450 | 0.0% | 4 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $222.5K | 220 | 0.0% | 8 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $213.9K | 1,200 | 0.0% | 8 |
| VODAFONE GROUP PLC | [VOD](https://holderbook.com/stocks/VOD/) | $198.4K | 15,000 | 0.0% | 10 |
| HALEON PLC | [HLN](https://holderbook.com/stocks/HLN/) | $110.4K | 11,836 | 0.0% | 16 |

## 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 | +2.1% | +14.8% | -12.7% | 100% |
| Q1 2026 | +1.5% | -4.6% | +6.1% | 100% |
| Q4 2025 | +4.3% | +2.4% | +1.9% | 100% |
| Q3 2025 | +7.4% | +7.8% | -0.4% | 100% |
| Q2 2025 | -4.4% | +10.5% | -14.8% | 100% |
| Q1 2025 | +5.4% | -4.6% | +9.9% | 100% |
| Q4 2024 | -0.9% | +2.1% | -3.0% | 100% |
| Q3 2024 | +9.1% | +5.4% | +3.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $912.1M | 77 |
| Q1 2026 | $870.8M | 75 |
| Q4 2025 | $830.5M | 75 |
| Q3 2025 | $804.7M | 77 |
| Q2 2025 | $733.9M | 72 |
| Q1 2025 | $781.0M | 83 |
| Q4 2024 | $731.8M | 81 |
| Q3 2024 | $738.5M | 85 |
| Q2 2024 | $690.0M | 79 |
| Q1 2024 | $733.1M | 77 |
| Q4 2023 | $672.5M | 76 |
| Q3 2023 | $651.5M | 77 |