Brandywine Global Investment Management, LLC Top Holdings and 13F Report (2025)

About Brandywine Global Investment Management, LLC

Investment Activity

Brandywine Global Investment Management, LLC has $13.77 billion in total holdings as of December 31, 2024.
Brandywine Global Investment Management, LLC owns shares of 557 different stocks, but just 152 companies or ETFs make up 80% of its holdings.
Approximately 12.64% of the portfolio was purchased this quarter.
About 19.03% of the portfolio was sold this quarter.
This quarter, Brandywine Global Investment Management, LLC has purchased 669 new stocks and bought additional shares in 126 stocks.
Brandywine Global Investment Management, LLC sold shares of 354 stocks and completely divested from 181 stocks this quarter.

Largest Holdings

JPMorgan Chase & Co.: $432,648,264
Bank of America: $294,529,079
Citigroup: $287,841,885
Johnson & Johnson: $269,156,042
Comcast: $237,188,587

Largest New Holdings this Quarter

QUALCOMM: $101,375,835 Holding
UnitedHealth Group: $99,043,341 Holding
3M: $58,295,495 Holding
Humana: $51,105,313 Holding
PepsiCo: $44,301,312 Holding

Largest Purchases this Quarter

QUALCOMM: 659,913 shares (about $101.38M)
UnitedHealth Group: 195,792 shares (about $99.04M)
Celanese: 892,391 shares (about $61.76M)
Comcast: 1,606,593 shares (about $60.30M)
3M: 451,588 shares (about $58.30M)

Largest Sales this Quarter

T-Mobile US: 524,730 shares (about $115.82M)
Aflac: 923,526 shares (about $95.53M)
CSX: 2,842,445 shares (about $91.73M)
Merck & Co., Inc.: 723,690 shares (about $71.99M)
Chart Industries: 347,096 shares (about $66.24M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
JPM JPMorgan Chase & Co.	$432,648,264	$29,943,375 ▼	-6.5%	1,804,882	3.1%	Finance
BAC Bank of America	$294,529,079	$2,099,360 ▼	-0.7%	6,701,458	2.1%	Finance
C Citigroup	$287,841,885	$2,256,915 ▼	-0.8%	4,089,244	2.1%	Finance
JNJ Johnson & Johnson	$269,156,042	$27,061,294 ▲	11.2%	1,861,126	2.0%	Medical
CMCSA Comcast	$237,188,587	$60,295,435 ▲	34.1%	6,319,973	1.7%	Consumer Discretionary
T AT&T	$236,545,507	$19,605,721 ▼	-7.7%	10,388,472	1.7%	Computer and Technology
GM General Motors	$234,766,750	$1,751,251 ▲	0.8%	4,407,110	1.7%	Auto/Tires/Trucks
WFC Wells Fargo & Company	$218,278,526	$1,279,351 ▲	0.6%	3,107,610	1.6%	Finance
CVX Chevron	$210,580,559	$19,960,400 ▼	-8.7%	1,453,884	1.5%	Oils/Energy
KR Kroger	$190,073,768	$391,299 ▼	-0.2%	3,108,320	1.4%	Retail/Wholesale
ABBV AbbVie	$190,062,767	$14,750,699 ▼	-7.2%	1,069,571	1.4%	Medical
IBM International Business Machines	$188,535,001	$7,496,423 ▼	-3.8%	857,640	1.4%	Computer and Technology
CAT Caterpillar	$184,215,695	$17,976,209 ▲	10.8%	507,817	1.3%	Industrial Products
DAL Delta Air Lines	$170,180,390	$17,204,930 ▼	-9.2%	2,812,899	1.2%	Transportation
LMT Lockheed Martin	$160,200,812	$1,625,469 ▲	1.0%	329,672	1.2%	Aerospace
DE Deere & Company	$158,280,338	$11,712,339 ▲	8.0%	373,567	1.1%	Industrial Products
GPN Global Payments	$148,514,463	$1,565,814 ▼	-1.0%	1,325,312	1.1%	Business Services
AXP American Express	$147,676,471	$27,168,453 ▲	22.5%	497,579	1.1%	Finance
CSCO Cisco Systems	$139,934,059	$9,048,010 ▼	-6.1%	2,363,751	1.0%	Computer and Technology
FDX FedEx	$136,835,536	$9,899,440 ▲	7.8%	486,388	1.0%	Transportation
DIS Walt Disney	$134,631,615	$630,130 ▼	-0.5%	1,209,085	1.0%	Consumer Discretionary
CVS CVS Health	$127,890,982	$29,215,849 ▲	29.6%	2,848,986	0.9%	Medical
AER AerCap	$121,484,738	$2,228,374 ▲	1.9%	1,269,433	0.9%	Transportation
COP ConocoPhillips	$120,820,993	$64,443,542 ▼	-34.8%	1,218,322	0.9%	Oils/Energy
MDT Medtronic	$117,925,965	$3,939,602 ▼	-3.2%	1,476,289	0.9%	Medical
LOW Lowe's Companies	$113,439,152	$8,778,676 ▼	-7.2%	459,640	0.8%	Retail/Wholesale
PM Philip Morris International	$113,305,433	$8,761,480 ▼	-7.2%	941,466	0.8%	Consumer Staples
VZ Verizon Communications	$111,084,742	$7,960,449 ▼	-6.7%	2,777,813	0.8%	Computer and Technology
MS Morgan Stanley	$108,913,122	$8,458,442 ▼	-7.2%	866,315	0.8%	Finance
DG Dollar General	$102,679,083	$40,327,445 ▲	64.7%	1,354,248	0.7%	Retail/Wholesale
QCOM QUALCOMM	$101,375,835	$101,375,835 ▲	New Holding	659,913	0.7%	Computer and Technology
PYPL PayPal	$101,072,750	$23,099,295 ▲	29.6%	1,184,215	0.7%	Computer and Technology
NRG NRG Energy	$101,070,308	$4,495,031 ▲	4.7%	1,120,265	0.7%	Utilities
WTW Willis Towers Watson Public	$100,452,936	$4,809,174 ▼	-4.6%	320,690	0.7%	Finance
UNH UnitedHealth Group	$99,043,341	$99,043,341 ▲	New Holding	195,792	0.7%	Medical
GS The Goldman Sachs Group	$98,711,099	$7,643,904 ▼	-7.2%	172,385	0.7%	Finance
ALL Allstate	$92,394,029	$441,875 ▲	0.5%	479,247	0.7%	Finance
FMC FMC	$90,465,981	$11,743,301 ▲	14.9%	1,861,057	0.7%	Consumer Staples
RTX RTX	$86,637,828	$6,699,031 ▼	-7.2%	748,685	0.6%	Aerospace
ON Onsemi	$83,198,258	$9,166,083 ▲	12.4%	1,319,560	0.6%	Computer and Technology
TMUS T-Mobile US	$82,042,913	$115,823,653 ▼	-58.5%	371,689	0.6%	Computer and Technology
CAG Conagra Brands	$78,638,810	$12,023,409 ▲	18.0%	2,833,831	0.6%	Consumer Staples
HON Honeywell International	$77,006,805	$1,638,154 ▲	2.2%	340,904	0.6%	Multi-Sector Conglomerates
XEL Xcel Energy	$76,403,404	$9,983,102 ▼	-11.6%	1,131,567	0.6%	Utilities
MGA Magna International	$73,580,595	$11,073,689 ▲	17.7%	1,762,728	0.5%	Auto/Tires/Trucks
EIX Edison International	$70,110,378	$23,801,901 ▼	-25.3%	878,136	0.5%	Utilities
TSN Tyson Foods	$68,989,633	$6,348,671 ▼	-8.4%	1,201,073	0.5%	Consumer Staples
PCAR PACCAR	$68,534,721	$32,693,382 ▲	91.2%	658,861	0.5%	Auto/Tires/Trucks
GILD Gilead Sciences	$68,362,760	$52,495,626 ▲	330.8%	740,097	0.5%	Medical
CE Celanese	$66,012,636	$61,762,381 ▲	1,453.1%	953,802	0.5%	Basic Materials
CCK Crown	$63,286,957	$163,644 ▲	0.3%	765,352	0.5%	Industrial Products
NLY Annaly Capital Management	$63,080,777	$1,313,665 ▲	2.1%	3,447,037	0.5%	Finance
HCA HCA Healthcare	$62,707,338	$4,907,453 ▼	-7.3%	208,920	0.5%	Medical
FCX Freeport-McMoRan	$61,692,342	$41,290,753 ▲	202.4%	1,620,072	0.4%	Basic Materials
CB Chubb	$60,813,906	$4,791,042 ▼	-7.3%	220,101	0.4%	Finance
BP BP	$59,569,903	$9,931,421 ▼	-14.3%	2,015,220	0.4%	Oils/Energy
TGT Target	$59,462,303	$22,226,566 ▼	-27.2%	439,875	0.4%	Retail/Wholesale
MMM 3M	$58,295,495	$58,295,495 ▲	New Holding	451,588	0.4%	Multi-Sector Conglomerates
MCK McKesson	$57,954,148	$4,545,032 ▼	-7.3%	101,690	0.4%	Medical
EOG EOG Resources	$55,309,935	$126,380 ▲	0.2%	451,215	0.4%	Oils/Energy
GOOGL Alphabet	$55,130,786	$1,602,803 ▲	3.0%	291,235	0.4%	Computer and Technology
SHEL Shell	$54,880,586	$9,689,512 ▼	-15.0%	875,987	0.4%	Oils/Energy
FE FirstEnergy	$54,443,226	$9,851,597 ▼	-15.3%	1,368,608	0.4%	Utilities
MPC Marathon Petroleum	$54,364,824	$32,198,832 ▼	-37.2%	389,712	0.4%	Oils/Energy
MO Altria Group	$54,342,069	$4,285,166 ▼	-7.3%	1,039,244	0.4%	Consumer Staples
VNT Vontier	$54,084,609	$399,456 ▼	-0.7%	1,482,989	0.4%	Business Services
GSK GSK	$54,044,259	$219,796 ▼	-0.4%	1,597,997	0.4%	Medical
TRV Travelers Companies	$53,818,198	$4,073,450 ▼	-7.0%	223,414	0.4%	Finance
BMY Bristol-Myers Squibb	$53,591,901	$14,972,167 ▼	-21.8%	947,523	0.4%	Medical
CNQ Canadian Natural Resources	$52,825,694	$1,227,085 ▲	2.4%	1,713,207	0.4%	Oils/Energy
VTRS Viatris	$51,909,366	$83,502 ▼	-0.2%	4,169,427	0.4%	Medical
EXC Exelon	$51,553,438	$229,453 ▼	-0.4%	1,369,645	0.4%	Utilities
HUM Humana	$51,105,313	$51,105,313 ▲	New Holding	201,432	0.4%	Medical
BRK.B Berkshire Hathaway	$51,059,272	$223,014 ▼	-0.4%	112,644	0.4%	Finance
SIRIUSXM HOLDINGS INC	$50,570,788	$3,436,963 ▲	7.3%	2,218,017	0.4%	COMMON STOCK
DUK Duke Energy	$50,387,951	$3,901,265 ▼	-7.2%	467,681	0.4%	Utilities
SO Southern	$50,042,575	$23,625,511 ▲	89.4%	607,903	0.4%	Utilities
RPRX Royalty Pharma	$49,956,284	$3,626,910 ▲	7.8%	1,958,302	0.4%	Finance
CABLE ONE INC	$49,547,390	$6,840,943 ▲	16.0%	59,876,000	0.4%	NOTE 1.125% 3/1
APO Apollo Global Management	$48,988,768	$3,907,851 ▼	-7.4%	296,614	0.4%	Finance
GIS General Mills	$48,274,528	$17,747,701 ▲	58.1%	757,010	0.4%	Consumer Staples
CI The Cigna Group	$47,683,027	$3,666,863 ▼	-7.1%	172,677	0.3%	Medical
JAZZ Jazz Pharmaceuticals	$47,010,050	$171,179 ▼	-0.4%	381,730	0.3%	Medical
BLDR Builders FirstSource	$44,821,705	$1,144,298 ▼	-2.5%	313,592	0.3%	Retail/Wholesale
HOWARD HUGHES HOLDINGS INC	$44,326,150	$4,412,823 ▼	-9.1%	576,263	0.3%	COM
PEP PepsiCo	$44,301,312	$44,301,312 ▲	New Holding	291,341	0.3%	Consumer Staples
IWD iShares Russell 1000 Value ETF	$43,859,889	$18,307,321 ▼	-29.4%	236,914	0.3%	ETF
KHC Kraft Heinz	$41,784,180	$1,545,972 ▼	-3.6%	1,360,605	0.3%	Consumer Staples
EBAY eBay	$41,247,177	$13,698,941 ▲	49.7%	665,814	0.3%	Retail/Wholesale
STLD Steel Dynamics	$41,131,931	$1,243,477 ▼	-2.9%	360,585	0.3%	Basic Materials
D Dominion Energy	$40,433,241	$10,775,178 ▲	36.3%	750,710	0.3%	Utilities
PHM PulteGroup	$40,325,234	$5,178,086 ▲	14.7%	370,296	0.3%	Construction
PNC The PNC Financial Services Group	$40,084,837	$2,997,082 ▼	-7.0%	207,855	0.3%	Finance
CSX CSX	$38,190,577	$91,725,700 ▼	-70.6%	1,183,470	0.3%	Transportation
SNY Sanofi	$37,803,446	$134,079 ▼	-0.4%	783,816	0.3%	Medical
PGR Progressive	$37,632,667	$3,369,156 ▲	9.8%	157,058	0.3%	Finance
KMI Kinder Morgan	$37,114,095	$2,878,397 ▼	-7.2%	1,354,529	0.3%	Oils/Energy
MET MetLife	$36,033,587	$2,774,913 ▼	-7.2%	440,078	0.3%	Finance
AFL Aflac	$35,232,181	$95,529,529 ▼	-73.1%	340,605	0.3%	Finance
ADM Archer-Daniels-Midland	$34,552,346	$45,468 ▼	-0.1%	683,934	0.3%	Consumer Staples

Showing largest 100 holdings. View all holdings.

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Brandywine Global Investment Management, LLC Top Holdings and 13F Report (2025)

About Brandywine Global Investment Management, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

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Brandywine Global Investment Management, LLC Top Holdings and 13F Report (2025)

About Brandywine Global Investment Management, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofBrandywine Global Investment Management, LLC

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools