# Applied Finance Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1966007. Source: https://holderbook.com/funds/1966007-applied-finance-capital-management-llc/

- Reported value: $1.3B
- Positions: 218
- Weight of the ten largest: 33.8%
- Filed: 2026-07-28

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/) | $65.3M | 225,701 | 4.9% | 15 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $60.6M | 83,758 | 4.5% | 9 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $55.9M | 185,356 | 4.2% | 15 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $52.8M | 141,576 | 3.9% | 14 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $44.0M | 123,175 | 3.3% | 15 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $41.2M | 350,893 | 3.1% | 15 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $38.4M | 192,007 | 2.9% | 9 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $36.3M | 64,450 | 2.7% | 15 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $30.1M | 107,214 | 2.2% | 15 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $28.9M | 1,318,305 | 2.2% | 15 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $25.5M | 49,689 | 1.9% | 15 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $25.0M | 22,095 | 1.9% | 15 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $24.2M | 164,825 | 1.8% | 8 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $23.7M | 63,990 | 1.8% | 9 |
| ROPER TECHNOLOGIES INC | [ROP](https://holderbook.com/stocks/ROP/) | $22.6M | 66,661 | 1.7% | 15 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $21.8M | 30,633 | 1.6% | 15 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $21.8M | 226,422 | 1.6% | 15 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $21.6M | 509,998 | 1.6% | 15 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $21.5M | 104,986 | 1.6% | 13 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $20.9M | 29,015 | 1.6% | 15 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $20.3M | 124,564 | 1.5% | 13 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $20.0M | 60,592 | 1.5% | 15 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $19.1M | 335,281 | 1.4% | 15 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $19.0M | 58,030 | 1.4% | 15 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $18.8M | 69,269 | 1.4% | 15 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $18.7M | 90,811 | 1.4% | 15 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $18.5M | 71,180 | 1.4% | 15 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $18.4M | 217,438 | 1.4% | 15 |
| AMERIPRISE FINL INC | [AMP](https://holderbook.com/stocks/AMP/) | $17.9M | 39,025 | 1.3% | 15 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $17.1M | 133,454 | 1.3% | 15 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $17.0M | 62,973 | 1.3% | 15 |
| APTIV PLC | [APTV](https://holderbook.com/stocks/APTV/) | $16.7M | 271,519 | 1.2% | 6 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $15.6M | 70,821 | 1.2% | 15 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $15.4M | 118,102 | 1.1% | 15 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $15.1M | 12,549 | 1.1% | 15 |
| CBRE GROUP INC | [CBRE](https://holderbook.com/stocks/CBRE/) | $15.0M | 111,565 | 1.1% | 7 |
| KEURIG DR PEPPER INC | [KDP](https://holderbook.com/stocks/KDP/) | $14.8M | 452,729 | 1.1% | 9 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $14.1M | 40,000 | 1.1% | 3 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $13.9M | 134,138 | 1.0% | 15 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $13.6M | 131,131 | 1.0% | 15 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $13.0M | 264,331 | 1.0% | 12 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $12.2M | 35,674 | 0.9% | 9 |
| INCYTE CORP | [INCY](https://holderbook.com/stocks/INCY/) | $12.1M | 106,768 | 0.9% | 10 |
| CONSTELLATION BRANDS INC | [STZ](https://holderbook.com/stocks/STZ/) | $11.6M | 83,537 | 0.9% | 15 |
| STEEL DYNAMICS INC | [STLD](https://holderbook.com/stocks/STLD/) | $11.1M | 48,566 | 0.8% | 9 |
| TYSON FOODS INC | [TSN](https://holderbook.com/stocks/TSN/) | $11.1M | 193,060 | 0.8% | 15 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $10.6M | 14,055 | 0.8% | 15 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $10.4M | 27,591 | 0.8% | 9 |
| PUBLIC SVC ENTERPRISE GROUP | [PEG](https://holderbook.com/stocks/PEG/) | $10.4M | 128,243 | 0.8% | 15 |
| DTE ENERGY CO | [DTE](https://holderbook.com/stocks/DTE/) | $10.2M | 67,101 | 0.8% | 15 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $9.7M | 28,262 | 0.7% | 9 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $9.5M | 18,993 | 0.7% | 15 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $9.3M | 48,664 | 0.7% | 15 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $8.8M | 27,931 | 0.7% | 15 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $8.6M | 13,713 | 0.6% | 15 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $7.4M | 41,555 | 0.6% | 9 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $7.3M | 40,140 | 0.5% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $6.5M | 25,604 | 0.5% | 15 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $6.3M | 25,128 | 0.5% | 10 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $4.2M | 12,606 | 0.3% | 9 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $4.2M | 45,119 | 0.3% | 9 |
| ETF OPPORTUNITIES TRUST | [VSLU](https://holderbook.com/stocks/VSLU/) | $3.3M | 70,827 | 0.2% | 5 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $2.8M | 882 | 0.2% | 9 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $2.8M | 6,487 | 0.2% | 8 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $2.7M | 10,944 | 0.2% | 1 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $2.7M | 37,486 | 0.2% | 1 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $2.7M | 6,166 | 0.2% | 5 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $2.5M | 6,845 | 0.2% | 9 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $2.4M | 10,929 | 0.2% | 5 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $2.1M | 21,721 | 0.2% | 1 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $2.1M | 35,950 | 0.2% | 1 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $2.0M | 12,562 | 0.1% | 9 |
| GENERAL MTRS CO | [GM](https://holderbook.com/stocks/GM/) | $2.0M | 25,805 | 0.1% | 1 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $1.9M | 14,693 | 0.1% | 9 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $1.8M | 3,579 | 0.1% | 1 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $1.7M | 1,313 | 0.1% | 2 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $1.7M | 5,348 | 0.1% | 15 |
| FORD MTR CO | [F](https://holderbook.com/stocks/F/) | $1.7M | 120,515 | 0.1% | 1 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $1.6M | 3,572 | 0.1% | 5 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $1.6M | 9,573 | 0.1% | 9 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $1.6M | 12,587 | 0.1% | 15 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $1.5M | 9,205 | 0.1% | 1 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $1.5M | 3,059 | 0.1% | 3 |
| UGI CORP NEW | [UGI](https://holderbook.com/stocks/UGI/) | $1.5M | 42,849 | 0.1% | 13 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $1.4M | 6,428 | 0.1% | 4 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $1.4M | 5,577 | 0.1% | 5 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $1.4M | 7,583 | 0.1% | 9 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $1.4M | 4,196 | 0.1% | 1 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $1.3M | 5,578 | 0.1% | 9 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $1.3M | 670 | 0.1% | 5 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $1.3M | 3,874 | 0.1% | 1 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $1.2M | 13,837 | 0.1% | 1 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $1.2M | 3,040 | 0.1% | 9 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $1.2M | 5,150 | 0.1% | 9 |
| STATE STR CORP | [STT](https://holderbook.com/stocks/STT/) | $1.2M | 6,785 | 0.1% | 15 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $1.1M | 4,408 | 0.1% | 15 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $1.1M | 4,350 | 0.1% | 13 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $1.1M | 6,480 | 0.1% | 3 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $1.1M | 6,191 | 0.1% | 3 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $1.0M | 5,859 | 0.1% | 1 |

## 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 | +14.6% | +14.8% | -0.2% | 100% |
| Q1 2026 | -2.2% | -4.6% | +2.5% | 100% |
| Q4 2025 | +1.3% | +2.4% | -1.1% | 100% |
| Q3 2025 | +7.0% | +7.8% | -0.9% | 100% |
| Q2 2025 | +7.0% | +10.5% | -3.4% | 100% |
| Q1 2025 | -2.0% | -4.6% | +2.5% | 100% |
| Q4 2024 | -3.0% | +2.1% | -5.2% | 100% |
| Q3 2024 | +5.5% | +5.4% | +0.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.3B | 218 |
| Q1 2026 | $1.3B | 218 |
| Q4 2025 | $1.4B | 225 |
| Q3 2025 | $1.4B | 280 |
| Q2 2025 | $1.5B | 307 |
| Q1 2025 | $1.4B | 294 |
| Q4 2024 | $2.3B | 297 |
| Q3 2024 | $2.3B | 298 |
| Q2 2024 | $2.2B | 293 |
| Q1 2024 | $1.4B | 75 |
| Q4 2023 | $1.2B | 75 |
| Q3 2023 | $919.7M | 74 |