Great investors · Jeremy Grantham · Q1 2026
What Jeremy Grantham bought and sold in Q1 2026
GMO 13F portfolio as of Mar 31, 2026: 628 positions worth $39.1 bn. Largest: MSFT, GOOGL, JNJ, AAPL. Filed with the SEC on May 14, 2026.
The 13F is filed by GMO, not by Jeremy Grantham personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q1 2026
- IncreasedMastercardMA+1.2 pp
- IncreasedNetflixNFLX+1.0 pp
- NewSynopsysSNPS+0.9 pp
- IncreasedMicrosoftMSFT+0.9 pp
Sells in Q1 2026
- ReducedLam ResearchLRCX−1.3 pp
- ReducedWells FargoWFC−1.1 pp
6 companies with material moves, out of 6 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
GMO's Q1 2026 13F lists 628 lines of US-listed securities worth $39.1 bn; the largest is MSFT at 5.85% of the portfolio. It was accepted by the SEC on May 14, 2026 at 7:19 AM ET.
Against the previous quarter, it opened 84 positions (SNPS, ROP, WBS and WTRG and 80 more), closed 95 (EWJ, FN, NWSA and TAP and 91 more), added to 218 (MA, NFLX, MSFT and VALE and 214 more) and trimmed 138 (LRCX, ELV, KLAC and DAR and 134 more). 13 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Microsoft MSFT | 6.2 M | $2.3 bn | 5.85% | +17% |
| 2 | Alphabet GOOGL | 6.9 M | $2.0 bn | 5.08% | +3.4% |
| 3 | Johnson & Johnson JNJ | 7.3 M | $1.8 bn | 4.55% | +2.7% |
| 4 | Apple AAPL | 6.9 M | $1.8 bn | 4.50% | +3.4% |
| 5 | Meta Platforms META | 3.1 M | $1.8 bn | 4.50% | +5.7% |
| 6 | Lam Research LRCX | 6.9 M | $1.5 bn | 3.77% | −26% |
| 7 | Amazon.com AMZN | 6.2 M | $1.3 bn | 3.32% | −2% |
| 8 | Thermo Fisher Scientific TMO | 2.5 M | $1.2 bn | 3.15% | +3.7% |
| 9 | Broadcom AVGO | 3.3 M | $1.0 bn | 2.65% | +6.8% |
| 10 | US Bancorp \de\ USB | 19.1 M | $994M | 2.54% | +3.9% |
| 11 | Texas Instruments TXN | 5.1 M | $983M | 2.51% | +3.5% |
| 12 | Visa V | 3.0 M | $918M | 2.35% | +15% |
| 13 | Abbott Laboratories ABT | 8.9 M | $915M | 2.34% | +5.1% |
| 14 | UnitedHealth Group UNH | 3.2 M | $855M | 2.19% | +18% |
| 15 | Merck MRK | 7.0 M | $844M | 2.16% | +2.1% |
| 16 | Salesforce CRM | 4.4 M | $826M | 2.11% | +7.8% |
| 17 | Accenture ACN | 3.9 M | $774M | 1.98% | +7.8% |
| 18 | Cigna Group CI | 2.6 M | $693M | 1.77% | +33% |
| 19 | Eli Lilly LLY | 749,815 | $690M | 1.76% | +1.4% |
| 20 | KLA KLAC | 461,202 | $679M | 1.74% | −9.3% |
| 21 | Hilton Worldwide Holdings HLT | 2.2 M | $675M | 1.73% | −5.2% |
| 22 | Coca-Cola KO | 8.3 M | $630M | 1.61% | −6% |
| 23 | Constellation Brands STZ | 4.0 M | $604M | 1.54% | +4.2% |
| 24 | TJX TJX | 3.7 M | $593M | 1.52% | −2.3% |
| 25 | Intuitive Surgical ISRG | 1.2 M | $567M | 1.45% | +3.8% |
| 26 | Elevance Health ELV | 1.9 M | $564M | 1.44% | −23% |
| 27 | UBER Technologies UBER | 7.4 M | $531M | 1.36% | +27% |
| 28 | Mastercard MA | 950,785 | $475M | 1.22% | ×391 |
| 29 | Netflix NFLX | 4.0 M | $389M | 1.00% | ×124 |
| 30 | Quest Diagnostics DGX | 1.9 M | $369M | 0.94% | +3.7% |
| 31 | Synopsys SNPS | 910,133 | $361M | 0.92% | new |
| 32 | Tradeweb Markets TW | 2.7 M | $312M | 0.80% | +5.2% |
| 33 | ASML Holding ASML | 154,570 | $204M | 0.52% | +18% |
| 34 | GSK GSK | 3.5 M | $194M | 0.50% | no change |
| 35 | RIO Tinto RIO | 2.0 M | $187M | 0.48% | +28% |
| 36 | Toronto Dominion Bank TD | 2.0 M | $183M | 0.47% | +6.2% |
| 37 | Darling Ingredients DAR | 2.7 M | $167M | 0.43% | −27% |
| 38 | Albemarle ALB | 906,683 | $163M | 0.42% | −1.8% |
| 39 | Vodafone Group Public VOD | 10.1 M | $152M | 0.39% | −2.7% |
| 40 | TotalEnergies TTE | 1.5 M | $139M | 0.35% | −3.9% |
| 41 | Sociedad Quimica Y Minera De SQM | 1.7 M | $136M | 0.35% | −1.9% |
| 42 | Procter & Gamble PG | 893,434 | $129M | 0.33% | +33% |
| 43 | Taiwan Semiconductor Manufacturing TSM | 374,511 | $127M | 0.32% | −8.1% |
| 44 | Deutsche Bank Aktiengesellschaft DB | 4.1 M | $119M | 0.30% | +7.3% |
| 45 | Aramark ARMK | 2.9 M | $119M | 0.30% | +15% |
| 46 | Solaredge Technologies SEDG | 2.2 M | $114M | 0.29% | −12% |
| 47 | Sunrun RUN | 7.8 M | $106M | 0.27% | +44% |
| 48 | GE Aerospace GE | 321,662 | $91.3M | 0.23% | +6.2% |
| 49 | NexGen Energy NXE | 7.6 M | $87.4M | 0.22% | −2.7% |
| 50 | Bank of Nova Scotia BNS | 1.2 M | $84.0M | 0.21% | +47% |
| 51 | ConocoPhillips COP | 619,822 | $81.8M | 0.21% | −7.3% |
| 52 | Array Technologies ARRY | 11.0 M | $79.2M | 0.20% | +32% |
| 53 | Vista Energy, S.A.B. de C.V. VIST | 949,208 | $71.6M | 0.18% | +9.1% |
| 54 | Mondelez International MDLZ | 1.2 M | $69.3M | 0.18% | +27% |
| 55 | Magna International MGA | 1.2 M | $67.8M | 0.17% | +8.8% |
| 56 | Verizon Communications VZ | 1.3 M | $66.2M | 0.17% | −7.6% |
| 57 | Green Plains GPRE | 3.9 M | $64.9M | 0.17% | −2.1% |
| 58 | Pfizer PFE | 2.3 M | $64.2M | 0.16% | −3.9% |
| 59 | NVIDIA NVDA | 354,515 | $61.8M | 0.16% | −60% |
| 60 | Citigroup C | 530,716 | $60.2M | 0.15% | −4% |
| 61 | EOG Resources EOG | 404,437 | $58.5M | 0.15% | +16% |
| 62 | Bank of America BAC | 1.2 M | $57.1M | 0.15% | +5.5% |
| 63 | Qualcomm QCOM | 443,461 | $57.1M | 0.15% | +26% |
| 64 | Exxon Mobil XOM | 336,121 | $57.0M | 0.15% | −14% |
| 65 | Ameresco AMRC | 2.2 M | $56.9M | 0.15% | −4.1% |
| 66 | California Resources CRC | 804,479 | $55.7M | 0.14% | −19% |
| 67 | Target TGT | 458,047 | $55.5M | 0.14% | +4.3% |
| 68 | General Motors GM | 709,245 | $52.8M | 0.14% | +2.4% |
| 69 | Jack Henry & Associates JKHY | 325,829 | $51.5M | 0.13% | +66% |
| 70 | Kosmos Energy KOS | 18.3 M | $50.9M | 0.13% | −47% |
| 71 | Comcast CMCSA | 1.8 M | $50.5M | 0.13% | +3.8% |
| 72 | eBay EBAY | 530,286 | $48.3M | 0.12% | −7.6% |
| 73 | Ford Motor F | 4.1 M | $47.7M | 0.12% | +23% |
| 74 | Manulife Financial MFC | 1.4 M | $47.2M | 0.12% | −1.6% |
| 75 | CVS Health CVS | 634,846 | $45.6M | 0.12% | −12% |
| 76 | United Parcel Service UPS | 461,048 | $45.4M | 0.12% | +7.9% |
| 77 | British American Tobacco p.l.c. BTI | 766,683 | $44.8M | 0.11% | −50% |
| 78 | Allstate ALL | 211,404 | $43.8M | 0.11% | +144% |
| 79 | Cemex SAB De CV CX | 3.8 M | $43.7M | 0.11% | +25% |
| 80 | Nucor NUE | 257,987 | $43.6M | 0.11% | +5.8% |
| 81 | Stellantis STLA | 6.2 M | $43.2M | 0.11% | +32% |
| 82 | YPF Sociedad Anonima YPF | 926,178 | $42.8M | 0.11% | −19% |
| 83 | Regeneron Pharmaceuticals REGN | 55,353 | $42.8M | 0.11% | −2.4% |
| 84 | Capital One Financial COF | 231,068 | $42.2M | 0.11% | +6.8% |
| 85 | Novartis NVS | 275,637 | $42.1M | 0.11% | −7.9% |
| 86 | VALE VALE | 2.6 M | $41.9M | 0.11% | +730% |
| 87 | Freeport-McMoRan FCX | 701,125 | $41.2M | 0.11% | −27% |
| 88 | Corteva CTVA | 479,331 | $40.1M | 0.10% | −6.1% |
| 89 | Itron ITRI | 447,140 | $40.1M | 0.10% | +102% |
| 90 | Sun Life Financial SLF | 637,630 | $39.8M | 0.10% | +20% |
| 91 | Roper Technologies ROP | 111,931 | $39.6M | 0.10% | new |
| 92 | Cognizant Technology Solutions CTSH | 635,403 | $39.0M | 0.10% | +21% |
| 93 | Clean Harbors CLH | 135,593 | $38.9M | 0.10% | +25% |
| 94 | PriceSmart PSMT | 257,970 | $38.8M | 0.10% | −12% |
| 95 | PayPal Holdings PYPL | 847,259 | $38.3M | 0.10% | +39% |
| 96 | Brown Forman BF/B | 1.4 M | $38.1M | 0.10% | +7.5% |
| 97 | Open Text OTEX | 1.7 M | $37.8M | 0.10% | +21% |
| 98 | Cirrus Logic CRUS | 252,333 | $36.5M | 0.09% | +8.3% |
| 99 | Balchem BCPC | 212,718 | $36.1M | 0.09% | +1.4% |
| 100 | Northwestern Energy Group NWE | 546,033 | $36.0M | 0.09% | +13% |
The 100 largest lines are shown. The other 528 add up to 10.9% of the portfolio; full 13F of GMO →
Positions it closed (95)
- Ishares EWJwas 0.06% · 311,177 shares
- Fabrinet FNwas 0.05% · 40,240 shares
- News NWSAwas 0.03% · 465,404 shares
- Molson Coors Beverage TAPwas 0.02% · 208,741 shares
- Installed Building Products IBPwas 0.02% · 32,569 shares
- Helmerich & Payne HPwas 0.02% · 252,200 shares
- Weibo WBwas 0.02% · 637,145 shares
- Micron Technology MUwas 0.02% · 21,000 shares
- Qorvo QRVOwas 0.01% · 69,204 shares
- Molina Healthcare MOHwas 0.01% · 24,815 shares
- A. O. Smith AOSwas 0.01% · 50,778 shares
- Affiliated Managers Group AMGwas 0.01% · 11,259 shares
- Centene CNCwas 0.01% · 75,476 shares
- Sealed Air was 0.01% · 65,677 shares
- Waters WATwas 0.00% · 7,200 shares
- Advanced Micro Devices AMDwas 0.00% · 8,307 shares
- Gold Fields GFIwas 0.00% · 36,300 shares
- Danaher DHRwas 0.00% · 6,765 shares
- Palantir Technologies PLTRwas 0.00% · 8,619 shares
- Amgen AMGNwas 0.00% · 4,642 shares
- Silicon Motion Technology SIMOwas 0.00% · 16,100 shares
- AbbVie ABBVwas 0.00% · 6,454 shares
- Sixth Street Specialty Lending TSLXwas 0.00% · 67,847 shares
- RTX RTXwas 0.00% · 7,981 shares
- McKESSON MCKwas 0.00% · 1,714 shares
- Nextera Energy NEEwas 0.00% · 17,484 shares
- 3m MMMwas 0.00% · 8,557 shares
- Dynatrace DTwas 0.00% · 31,119 shares
- Charles Schwab SCHWwas 0.00% · 13,460 shares
- McDONALD’S MCDwas 0.00% · 4,369 shares
- BlackRock BLKwas 0.00% · 1,221 shares
- General Dynamics GDwas 0.00% · 3,852 shares
- Starbucks SBUXwas 0.00% · 15,395 shares
- Verisign VRSNwas 0.00% · 5,326 shares
- Cadence Design Systems CDNSwas 0.00% · 4,115 shares
- Simon Property Group SPGwas 0.00% · 6,942 shares
- Veeva Systems VEEVwas 0.00% · 5,732 shares
- Emerson Electric EMRwas 0.00% · 9,532 shares
- LPL Financial Holdings LPLAwas 0.00% · 3,505 shares
- CrowdStrike Holdings CRWDwas 0.00% · 2,624 shares
- Boeing BAwas 0.00% · 5,452 shares
- Southern SOwas 0.00% · 13,534 shares
- Home Depot HDwas 0.00% · 3,294 shares
- Lowe's LOWwas 0.00% · 4,672 shares
- American Tower AMTwas 0.00% · 6,412 shares
- Linde LINwas 0.00% · 2,626 shares
- Futu Holdings FUTUwas 0.00% · 6,657 shares
- ServiceNow NOWwas 0.00% · 6,945 shares
- T-mobile US TMUSwas 0.00% · 5,199 shares
- Regency Centers REGwas 0.00% · 14,773 shares
- Graham Holdings GHCwas 0.00% · 852 shares
- Capri Holdings CPRIwas 0.00% · 38,000 shares
- Oracle ORCLwas 0.00% · 4,696 shares
- CACI International CACIwas 0.00% · 1,714 shares
- Mohawk Industries MHKwas 0.00% · 8,271 shares
- Alibaba Group Holding BABAwas 0.00% · 5,660 shares
- Imperial Oil IMOwas 0.00% · 9,549 shares
- Howmet Aerospace HWMwas 0.00% · 3,929 shares
- Perusahaan Perseroan Persero PT Telekomunikasi Indonesia TBK TLKwas 0.00% · 38,078 shares
- Steven Madden SHOOwas 0.00% · 18,133 shares
- Dupont De Nemours DDwas 0.00% · 17,000 shares
- Fidelity National Financial FNFwas 0.00% · 12,106 shares
- Xcel Energy XELwas 0.00% · 8,385 shares
- Onemain Holdings OMFwas 0.00% · 9,108 shares
- Resideo Technologies REZIwas 0.00% · 17,469 shares
- DTE Energy DTEwas 0.00% · 3,720 shares
- TTM Technologies TTMIwas 0.00% · 6,786 shares
- Globe Life GLwas 0.00% · 3,048 shares
- Enact Holdings ACTwas 0.00% · 10,490 shares
- Progress Software PRGSwas 0.00% · 9,362 shares
- Sanmina SANMwas 0.00% · 2,618 shares
- Primoris Services PRIMwas 0.00% · 3,003 shares
- Netease NTESwas 0.00% · 2,700 shares
- Icici Bank IBNwas 0.00% · 11,293 shares
- Amentum Holdings AMTMwas 0.00% · 10,457 shares
- Mettler-Toledo International MTDwas 0.00% · 211 shares
- Portland General Electric PORwas 0.00% · 5,932 shares
- Mueller Water Products MWAwas 0.00% · 11,679 shares
- Nova NVMIwas 0.00% · 802 shares
- Idaho Strategic Resources IDRwas 0.00% · 6,638 shares
- Goodyear Tire & Rubr GTwas 0.00% · 30,150 shares
- BankUnited BKUwas 0.00% · 5,734 shares
- Hanmi Financial HAFCwas 0.00% · 8,934 shares
- CSG Systems International was 0.00% · 3,136 shares
- Taylor Morrison Home TMHCwas 0.00% · 3,966 shares
- Indivior Pharmaceuticals SUPNwas 0.00% · 4,241 shares
- Babcock & Wilcox Enterprises BWwas 0.00% · 29,860 shares
- Angi ANGIwas 0.00% · 12,711 shares
- Pitney Bowes PBIwas 0.00% · 14,844 shares
- WeRide WRDwas 0.00% · 12,500 shares
- Dakota Gold DCwas 0.00% · 14,249 shares
- Terrestrial Energy IMSRwas 0.00% · 11,475 shares
- Empire State Realty Trust ESRTwas 0.00% · 10,204 shares
- ACCO Brands ACCOwas 0.00% · 17,102 shares
- NioCorp Developments NBwas 0.00% · 10,483 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.