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ACADEMY CAPITAL MANAGEMENT

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13F filer, CIK 1031972, WACO, TX

ACADEMY CAPITAL MANAGEMENT reported $701,422,325 across 41 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-12-12. Its ten largest share positions make up 78.84% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001031972-25-000007

Period
2025-09-30
Reported value
$701M
Holdings
41
Top 10 weight
78.84%
New
1
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ZTSnew+88,216$12.9M
XOMadded+32,432$3.66M
NVOadded+1,170$64.9K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
UNHreduced-101,169-$34.9M
MSFTreduced-13,081-$6.78M
LVMUYreduced-52,232-$6.39M
PEPreduced-45,202-$6.35M
NSRGYreduced-60,724-$5.57M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001031972-25-000007, largest first. % of portfolio is the value over $701,422,325, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 344,271 shares; 2024Q4: 343,006 shares; 2025Q1: 312,661 shares; 2025Q2: 309,615 shares; 2025Q3: 288,878 shares 288,878$73.6M10.49%-20,737Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 149,580 shares; 2024Q4: 150,017 shares; 2025Q1: 143,983 shares; 2025Q2: 145,216 shares; 2025Q3: 132,135 shares 132,135$68.4M9.76%-13,081Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,679 shares; 2024Q4: 98,931 shares; 2025Q1: 94,484 shares; 2025Q2: 96,216 shares; 2025Q3: 90,846 shares 90,846$66.7M9.51%-5,370Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,274 shares; 2024Q4: 287,698 shares; 2025Q1: 279,316 shares; 2025Q2: 276,271 shares; 2025Q3: 267,347 shares 267,347$58.7M8.37%-8,924Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,347 shares; 2024Q4: 119,431 shares; 2025Q1: 109,245 shares; 2025Q2: 107,509 shares; 2025Q3: 102,360 shares 102,360$58.2M8.3%-5,149Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 113,000 shares; 2024Q4: 112,336 shares; 2025Q1: 111,085 shares; 2025Q2: 109,993 shares; 2025Q3: 108,889 shares 108,889$54.7M7.8%-1,104Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,583 shares; 2024Q4: 232,532 shares; 2025Q1: 225,509 shares; 2025Q2: 224,231 shares; 2025Q3: 209,850 shares 209,850$51.1M7.29%-14,381Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,150 shares; 2024Q4: 60,757 shares; 2025Q1: 156,675 shares; 2025Q2: 156,409 shares; 2025Q3: 155,270 shares 155,270$43.4M6.18%-1,139Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,053 shares; 2024Q4: 179,071 shares; 2025Q1: 176,428 shares; 2025Q2: 175,179 shares; 2025Q3: 169,640 shares 169,640$41.2M5.88%-5,539Timeline
PRIPRIMERICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,221 shares; 2024Q4: 139,810 shares; 2025Q1: 135,815 shares; 2025Q2: 135,698 shares; 2025Q3: 132,913 shares 132,913$36.9M5.26%-2,785Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 441 shares; 2024Q4: 441 shares; 2025Q1: 441 shares; 2025Q2: 187,620 shares; 2025Q3: 86,451 shares 86,451$29.9M4.26%-101,169Timeline
IDXXIDEXX LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,172 shares; 2024Q4: 34,013 shares; 2025Q1: 35,794 shares; 2025Q2: 35,762 shares; 2025Q3: 35,452 shares 35,452$22.6M3.23%-310Timeline
NVONOVO-NORDISK A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 154,121 shares; 2025Q1: 367,574 shares; 2025Q2: 366,249 shares; 2025Q3: 367,419 shares 367,419$20.4M2.91%+1,170Timeline
LVMUYLVMH MOET HENNESSY-UNSP ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,971 shares; 2024Q4: 52,497 shares; 2025Q1: 52,092 shares; 2025Q2: 167,829 shares; 2025Q3: 115,597 shares 115,597$14.1M2.02%-52,232Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 88,216 shares 88,216$12.9M1.84%newTimeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,479 shares; 2024Q4: 18,386 shares; 2025Q1: 18,239 shares; 2025Q2: 19,804 shares; 2025Q3: 19,658 shares 19,658$9.57M1.36%-146Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,614 shares; 2024Q4: 75,614 shares; 2025Q1: 65,788 shares; 2025Q2: 65,788 shares; 2025Q3: 62,091 shares 62,091$6.3M0.9%-3,697Timeline
POOLPOOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,649 shares; 2024Q4: 17,481 shares; 2025Q1: 17,382 shares; 2025Q2: 17,347 shares; 2025Q3: 17,189 shares 17,189$5.33M0.76%-158Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,884 shares; 2024Q4: 40,842 shares; 2025Q1: 30,590 shares; 2025Q2: 28,686 shares; 2025Q3: 28,496 shares 28,496$5.09M0.73%-190Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,083 shares; 2024Q4: 14,333 shares; 2025Q1: 12,352 shares; 2025Q2: 12,352 shares; 2025Q3: 44,784 shares 44,784$5.05M0.72%+32,432Timeline
CMECME GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,000 shares; 2024Q4: 12,000 shares; 2025Q1: 11,955 shares; 2025Q2: 11,955 shares; 2025Q3: 11,955 shares 11,955$3.23M0.46%0Timeline
NSRGYNESTLE SA-SPONS ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,912 shares; 2024Q4: 190,777 shares; 2025Q1: 107,858 shares; 2025Q2: 95,559 shares; 2025Q3: 34,835 shares 34,835$3.2M0.46%-60,724Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 86,911 shares; 2024Q4: 88,135 shares; 2025Q1: 59,851 shares; 2025Q2: 59,243 shares; 2025Q3: 14,041 shares 14,041$1.97M0.28%-45,202Timeline
TRVTRAVELERS COMPANIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,552 shares; 2024Q4: 7,552 shares; 2025Q1: 6,417 shares; 2025Q2: 6,417 shares; 2025Q3: 5,500 shares 5,500$1.54M0.22%-917Timeline
STELSTELLAR BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,571 shares; 2024Q4: 37,571 shares; 2025Q1: 36,941 shares; 2025Q2: 36,941 shares; 2025Q3: 34,720 shares 34,720$1.05M0.15%-2,221Timeline
CADECADENCE BANKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,950 shares; 2024Q4: 20,950 shares; 2025Q1: not reported; 2025Q2: 20,950 shares; 2025Q3: 20,950 shares 20,950$786K0.11%0Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 829 shares; 2024Q4: 829 shares; 2025Q1: 860 shares; 2025Q2: 2,062 shares; 2025Q3: 2,053 shares 2,053$701K0.1%-9Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 580 shares; 2024Q4: 580 shares; 2025Q1: 580 shares; 2025Q2: 580 shares; 2025Q3: 580 shares 580$695K0.1%0Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,648 shares; 2024Q4: 9,648 shares; 2025Q1: 9,208 shares; 2025Q2: 7,016 shares; 2025Q3: 7,016 shares 7,016$530K0.08%0Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 837 shares; 2025Q3: 745 shares 745$496K0.07%-92Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,062 shares; 2025Q1: 3,062 shares; 2025Q2: 3,027 shares; 2025Q3: 2,975 shares 2,975$462K0.07%-52Timeline
GLWCORNING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,271 shares; 2025Q1: 5,215 shares; 2025Q2: 5,215 shares; 2025Q3: 5,215 shares 5,215$428K0.06%0Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,875 shares; 2025Q1: 1,875 shares; 2025Q2: 1,875 shares; 2025Q3: 1,823 shares 1,823$338K0.05%-52Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,956 shares; 2025Q1: 1,956 shares; 2025Q2: 1,956 shares; 2025Q3: 1,956 shares 1,956$327K0.05%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 42,766 shares; 2024Q4: 42,288 shares; 2025Q1: 42,288 shares; 2025Q2: 42,288 shares; 2025Q3: 42,288 shares 42,288$273K0.04%0Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,183 shares; 2024Q4: 1,183 shares; 2025Q1: 1,248 shares; 2025Q2: 1,251 shares; 2025Q3: 594 shares 594$264K0.04%-657Timeline
APDAIR PRODUCTS AND CHEMICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 862 shares; 2025Q1: 845 shares; 2025Q2: 845 shares; 2025Q3: 845 shares 845$230K0.03%0Timeline
EMREMERSON ELEC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,636 shares; 2025Q1: not reported; 2025Q2: 1,636 shares; 2025Q3: 1,636 shares 1,636$215K0.03%0Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,540 shares; 2025Q1: 2,540 shares; 2025Q2: 2,540 shares; 2025Q3: 2,524 shares 2,524$212K0.03%-16Timeline
LUVSOUTHWEST AIRLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,521 shares; 2025Q1: 6,521 shares; 2025Q2: 6,521 shares; 2025Q3: 6,521 shares 6,521$208K0.03%0Timeline
PROVECTUS BIOPHARMACEUTICALSPROVECTUS BIOPHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares 20,000$1.78K<0.01%0

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001031972-25-000007 base2025-12-12acceptance time not in the bulk data set