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ACADEMY CAPITAL MANAGEMENT

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13F filer, CIK 1031972, WACO, TX

ACADEMY CAPITAL MANAGEMENT reported $752,543,141 across 41 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-02. Its ten largest share positions make up 76.25% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001031972-26-000002

Period
2025-12-31
Reported value
$753M
Holdings
41
Top 10 weight
76.25%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ZTSadded+146,311$18.4M
POOLadded+49,619$11.4M
TRVadded+5,117$1.48M
NFLXadded+5,220$489K
XOMadded+723$87K

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
GOOGreduced-2,020-$634K
AAPLreduced-2,258-$614K
GOOGLreduced-1,589-$497K
SPYexited-745-$496K
AMZNreduced-1,968-$454K

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, Q4 2025

Share positions as resolved from 13F-HR 0001031972-26-000002, largest first. % of portfolio is the value over $752,543,141, 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; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 344,271 shares; 2024Q4: 343,006 shares; 2025Q1: 312,661 shares; 2025Q2: 309,615 shares; 2025Q3: 288,878 shares; 2025Q4: 286,620 shares 286,620$77.9M10.35%-2,258Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,583 shares; 2024Q4: 232,532 shares; 2025Q1: 225,509 shares; 2025Q2: 224,231 shares; 2025Q3: 209,850 shares; 2025Q4: 207,830 shares 207,830$65.2M8.67%-2,020Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 149,580 shares; 2024Q4: 150,017 shares; 2025Q1: 143,983 shares; 2025Q2: 145,216 shares; 2025Q3: 132,135 shares; 2025Q4: 131,339 shares 131,339$63.5M8.44%-796Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,274 shares; 2024Q4: 287,698 shares; 2025Q1: 279,316 shares; 2025Q2: 276,271 shares; 2025Q3: 267,347 shares; 2025Q4: 265,379 shares 265,379$61.3M8.14%-1,968Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,679 shares; 2024Q4: 98,931 shares; 2025Q1: 94,484 shares; 2025Q2: 96,216 shares; 2025Q3: 90,846 shares; 2025Q4: 90,553 shares 90,553$59.8M7.94%-293Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,347 shares; 2024Q4: 119,431 shares; 2025Q1: 109,245 shares; 2025Q2: 107,509 shares; 2025Q3: 102,360 shares; 2025Q4: 101,759 shares 101,759$58.1M7.72%-601Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 113,000 shares; 2024Q4: 112,336 shares; 2025Q1: 111,085 shares; 2025Q2: 109,993 shares; 2025Q3: 108,889 shares; 2025Q4: 108,119 shares 108,119$54.3M7.22%-770Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,053 shares; 2024Q4: 179,071 shares; 2025Q1: 176,428 shares; 2025Q2: 175,179 shares; 2025Q3: 169,640 shares; 2025Q4: 168,051 shares 168,051$52.6M6.99%-1,589Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,150 shares; 2024Q4: 60,757 shares; 2025Q1: 156,675 shares; 2025Q2: 156,409 shares; 2025Q3: 155,270 shares; 2025Q4: 154,344 shares 154,344$46.9M6.23%-926Timeline
PRIPRIMERICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,221 shares; 2024Q4: 139,810 shares; 2025Q1: 135,815 shares; 2025Q2: 135,698 shares; 2025Q3: 132,913 shares; 2025Q4: 132,306 shares 132,306$34.2M4.54%-607Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 88,216 shares; 2025Q4: 234,527 shares 234,527$29.5M3.92%+146,311Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 441 shares; 2024Q4: 441 shares; 2025Q1: 441 shares; 2025Q2: 187,620 shares; 2025Q3: 86,451 shares; 2025Q4: 86,017 shares 86,017$28.4M3.77%-434Timeline
IDXXIDEXX LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,172 shares; 2024Q4: 34,013 shares; 2025Q1: 35,794 shares; 2025Q2: 35,762 shares; 2025Q3: 35,452 shares; 2025Q4: 35,240 shares 35,240$23.8M3.17%-212Timeline
NVONOVO-NORDISK A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 154,121 shares; 2025Q1: 367,574 shares; 2025Q2: 366,249 shares; 2025Q3: 367,419 shares; 2025Q4: 365,783 shares 365,783$18.6M2.47%-1,636Timeline
LVMUYLVMH MOET HENNESSY-UNSP ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,971 shares; 2024Q4: 52,497 shares; 2025Q1: 52,092 shares; 2025Q2: 167,829 shares; 2025Q3: 115,597 shares; 2025Q4: 114,977 shares 114,977$17.3M2.3%-620Timeline
POOLPOOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,649 shares; 2024Q4: 17,481 shares; 2025Q1: 17,382 shares; 2025Q2: 17,347 shares; 2025Q3: 17,189 shares; 2025Q4: 66,808 shares 66,808$15.3M2.03%+49,619Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,479 shares; 2024Q4: 18,386 shares; 2025Q1: 18,239 shares; 2025Q2: 19,804 shares; 2025Q3: 19,658 shares; 2025Q4: 19,533 shares 19,533$10.2M1.36%-125Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,614 shares; 2024Q4: 75,614 shares; 2025Q1: 65,788 shares; 2025Q2: 65,788 shares; 2025Q3: 62,091 shares; 2025Q4: 62,091 shares 62,091$7.25M0.96%0Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,083 shares; 2024Q4: 14,333 shares; 2025Q1: 12,352 shares; 2025Q2: 12,352 shares; 2025Q3: 44,784 shares; 2025Q4: 45,507 shares 45,507$5.48M0.73%+723Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,884 shares; 2024Q4: 40,842 shares; 2025Q1: 30,590 shares; 2025Q2: 28,686 shares; 2025Q3: 28,496 shares; 2025Q4: 28,235 shares 28,235$4.14M0.55%-261Timeline
NSRGYNESTLE SA-SPONS ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,912 shares; 2024Q4: 190,777 shares; 2025Q1: 107,858 shares; 2025Q2: 95,559 shares; 2025Q3: 34,835 shares; 2025Q4: 34,035 shares 34,035$3.36M0.45%-800Timeline
CMECME GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,000 shares; 2024Q4: 12,000 shares; 2025Q1: 11,955 shares; 2025Q2: 11,955 shares; 2025Q3: 11,955 shares; 2025Q4: 11,955 shares 11,955$3.26M0.43%0Timeline
TRVTRAVELERS COMPANIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,552 shares; 2024Q4: 7,552 shares; 2025Q1: 6,417 shares; 2025Q2: 6,417 shares; 2025Q3: 5,500 shares; 2025Q4: 10,617 shares 10,617$3.08M0.41%+5,117Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 86,911 shares; 2024Q4: 88,135 shares; 2025Q1: 59,851 shares; 2025Q2: 59,243 shares; 2025Q3: 14,041 shares; 2025Q4: 13,469 shares 13,469$1.93M0.26%-572Timeline
STELSTELLAR BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,571 shares; 2024Q4: 37,571 shares; 2025Q1: 36,941 shares; 2025Q2: 36,941 shares; 2025Q3: 34,720 shares; 2025Q4: 34,720 shares 34,720$1.07M0.14%0Timeline
CADECADENCE BANKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,950 shares; 2024Q4: 20,950 shares; 2025Q1: not reported; 2025Q2: 20,950 shares; 2025Q3: 20,950 shares; 2025Q4: 20,950 shares 20,950$897K0.12%0Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 829 shares; 2024Q4: 829 shares; 2025Q1: 860 shares; 2025Q2: 2,062 shares; 2025Q3: 2,053 shares; 2025Q4: 2,095 shares 2,095$735K0.1%+42Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,648 shares; 2024Q4: 9,648 shares; 2025Q1: 9,208 shares; 2025Q2: 7,016 shares; 2025Q3: 7,016 shares; 2025Q4: 7,016 shares 7,016$563K0.07%0Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 580 shares; 2024Q4: 580 shares; 2025Q1: 580 shares; 2025Q2: 580 shares; 2025Q3: 580 shares; 2025Q4: 5,800 shares 5,800$544K0.07%+5,220Timeline
GLWCORNING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,271 shares; 2025Q1: 5,215 shares; 2025Q2: 5,215 shares; 2025Q3: 5,215 shares; 2025Q4: 5,215 shares 5,215$457K0.06%0Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,062 shares; 2025Q1: 3,062 shares; 2025Q2: 3,027 shares; 2025Q3: 2,975 shares; 2025Q4: 2,975 shares 2,975$453K0.06%0Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,875 shares; 2025Q1: 1,875 shares; 2025Q2: 1,875 shares; 2025Q3: 1,823 shares; 2025Q4: 1,823 shares 1,823$377K0.05%0Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,956 shares; 2025Q1: 1,956 shares; 2025Q2: 1,956 shares; 2025Q3: 1,956 shares; 2025Q4: 1,956 shares 1,956$359K0.05%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 42,766 shares; 2024Q4: 42,288 shares; 2025Q1: 42,288 shares; 2025Q2: 42,288 shares; 2025Q3: 42,288 shares; 2025Q4: 42,288 shares 42,288$294K0.04%0Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,183 shares; 2024Q4: 1,183 shares; 2025Q1: 1,248 shares; 2025Q2: 1,251 shares; 2025Q3: 594 shares; 2025Q4: 631 shares 631$284K0.04%+37Timeline
LUVSOUTHWEST AIRLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,521 shares; 2025Q1: 6,521 shares; 2025Q2: 6,521 shares; 2025Q3: 6,521 shares; 2025Q4: 6,521 shares 6,521$270K0.04%0Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,540 shares; 2025Q1: 2,540 shares; 2025Q2: 2,540 shares; 2025Q3: 2,524 shares; 2025Q4: 2,524 shares 2,524$266K0.04%0Timeline
EMREMERSON ELEC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,636 shares; 2025Q1: not reported; 2025Q2: 1,636 shares; 2025Q3: 1,636 shares; 2025Q4: 1,636 shares 1,636$217K0.03%0Timeline
APDAIR PRODUCTS AND CHEMICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 862 shares; 2025Q1: 845 shares; 2025Q2: 845 shares; 2025Q3: 845 shares; 2025Q4: 845 shares 845$209K0.03%0Timeline
PFEPFIZER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,050 shares 2,050$51K0.01%newTimeline
PROVECTUS BIOPHARMACEUTICALSPROVECTUS BIOPHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares; 2025Q4: 20,000 shares 20,000$1.12K<0.01%0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SPYSTATE STR SPDR S&P 500 ETF T745$496Kshares

How Q4 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 0001031972-26-000002 base2026-02-02acceptance time not in the bulk data set