Focused Investors portfolio
Concentrated managerInvestment firmPortfolio as of Sep 30, 2026 (Q3 2026) · filed with the SEC on Oct 30, 2026 · data updated on Nov 5, 2026 · Q3 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Focused Investors reported a $2.4 bn portfolio of 22 positions to the SEC as of the end of Q3 2026. Its largest positions are JNJ, MSFT, GS. During the quarter it exited Centene.
Sections with a free account
What changed this quarter
23 positions with a change (2 added to, 20 trimmed, 1 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Centene−2.4 ppof portfolioSold out2.4% → —
- Microsoft−16%fewer sharesReduced5.5% → 7.7%
- Johnson & Johnson−16%fewer sharesReduced7.3% → 7.8%
- Goldman Sachs Group−16%fewer sharesReduced8.3% → 7.6%
- Morgan Stanley−16%fewer sharesReduced7.8% → 7.2%
- Elevance Health−16%fewer sharesReduced6.0% → 6.2%
- Walt Disney−16%fewer sharesReduced5.4% → 6.1%
- Cigna Group−16%fewer sharesReduced5.8% → 5.9%
- UnitedHealth Group−16%fewer sharesReduced6.2% → 5.7%
- American Express−16%fewer sharesReduced5.2% → 4.8%
- Pepsico−16%fewer sharesReduced4.4% → 4.3%
- FedEx−16%fewer sharesReduced4.5% → 4.2%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Johnson & JohnsonJNJ7.8%
- MicrosoftMSFT7.7%
- Goldman Sachs GroupGS7.6%
- Morgan StanleyMS7.2%
- Elevance HealthELV6.2%
- Walt DisneyDIS6.1%
- Cigna GroupCI5.9%
- UnitedHealth GroupUNH5.7%
- American ExpressAXP4.8%
- PepsicoPEP4.3%
- FedExFDX4.2%
- AccentureACN4.2%
- TJXTJX3.8%
- Global PaymentsGPN3.7%
- OracleORCL3.2%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Financials 26%
- ● Health Care 26%
- ● Information Technology 15%
- ● Industrials 12%
- ● Consumer Discretionary 11%
- ● Communication Services 6%
- ● Consumer Staples 4%
How its portfolio changed (8 quarters)
Q3 2026: 22
Q3 2026: 64%
Q3 2026: 8.6%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 30, 2026 (medium confidence).
The data, as reported: FOCUSED INVESTORS LLC (CRD 140010): Institutional mandates; 5.D assets by client type: pooled vehicles 36%, governments 27%, corporations 24%, charities 11% (of $3.3 bn); 5.F 9 accounts, 0% non-discretionary; 5.D 3 clients, 0 individuals
The type comes from a rule applied to that data. If it looks wrong, tell us.
Similar managers by type and size
Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
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