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Route One Investment Company, L.P.

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13F filer, CIK 1512171, San Francisco, CA

Route One Investment Company, L.P. reported $2,701,765,009 across 18 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 87.23% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000935836-25-000701

Period
2025-09-30
Reported value
$2.7B
Holdings
18
Top 10 weight
87.23%
New
3
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BRBRnew+2,302,856$83.7M
KRCadded+1,618,711$68.4M
UNHadded+37,000$12.8M
HLFadded+1,369,800$11.6M
TBBBnew+78,117$2.11M

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
GOOGLreduced-142,400-$34.6M
SCHWreduced-271,150-$25.9M

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 0000935836-25-000701, largest first. % of portfolio is the value over $2,507,285,009, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GWREGUIDEWIRE SOFTWARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,865,580 shares; 2024Q4: 2,251,430 shares; 2025Q1: 2,051,430 shares; 2025Q2: 1,818,009 shares; 2025Q3: 1,818,009 shares 1,818,009$418M16.67%0Timeline
POSTPOST HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,372,639 shares; 2024Q4: 4,174,539 shares; 2025Q1: 4,048,439 shares; 2025Q2: 3,413,918 shares; 2025Q3: 3,432,918 shares 3,432,918$369M14.72%+19,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,540,400 shares; 2024Q4: 1,434,800 shares; 2025Q1: 1,276,550 shares; 2025Q2: 1,276,550 shares; 2025Q3: 1,276,550 shares 1,276,550$280M11.18%0Timeline
SCHWCHARLES SCHWAB CORP (THE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,712,843 shares; 2024Q4: 3,273,943 shares; 2025Q1: 3,373,943 shares; 2025Q2: 2,515,343 shares; 2025Q3: 2,244,193 shares 2,244,193$214M8.55%-271,150Timeline
NYTNEW YORK TIMES CO MTN BEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,794,259 shares; 2024Q4: 3,794,259 shares; 2025Q1: 3,699,259 shares; 2025Q2: 3,699,259 shares; 2025Q3: 3,699,259 shares 3,699,259$212M8.47%0Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,025,380 shares; 2024Q4: 850,380 shares; 2025Q1: 745,380 shares; 2025Q2: 745,380 shares; 2025Q3: 745,380 shares 745,380$182M7.24%0Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 435,600 shares; 2024Q4: 435,600 shares; 2025Q1: 435,600 shares; 2025Q2: 470,300 shares; 2025Q3: 507,300 shares 507,300$175M6.99%+37,000Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 210,880 shares; 2024Q4: 232,430 shares; 2025Q1: 232,430 shares; 2025Q2: 293,380 shares; 2025Q3: 293,380 shares 293,380$142M5.68%0Timeline
KRCKILROY REALTY CORPQuarterly 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: 1,000,900 shares; 2025Q3: 2,619,611 shares 2,619,611$111M4.41%+1,618,711Timeline
BRBRBELLRING BRANDS 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: 2,302,856 shares 2,302,856$83.7M3.34%newTimeline
CRMSALESFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 537,100 shares; 2024Q4: 537,100 shares; 2025Q1: 338,650 shares; 2025Q2: 338,650 shares; 2025Q3: 338,650 shares 338,650$80.3M3.2%0Timeline
PCORPROCORE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 557,050 shares; 2024Q4: 557,050 shares; 2025Q1: 918,205 shares; 2025Q2: 918,205 shares; 2025Q3: 918,205 shares 918,205$67M2.67%0Timeline
HLFHERBALIFE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,631,411 shares; 2024Q4: 4,120,884 shares; 2025Q1: 4,735,388 shares; 2025Q2: 6,159,138 shares; 2025Q3: 7,528,938 shares 7,528,938$63.5M2.53%+1,369,800Timeline
VEEVVEEVA SYS 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: 155,100 shares; 2025Q3: 155,100 shares 155,100$46.2M1.84%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 410,960 shares; 2024Q4: 346,960 shares; 2025Q1: 346,960 shares; 2025Q2: 162,360 shares; 2025Q3: 19,960 shares 19,960$4.85M0.19%-142,400Timeline
TBBBBBB FOODS 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: 78,117 shares 78,117$2.11M0.08%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
GOOGLALPHABET INC COMput800,000$194Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
HERBALIFE LTDHERBALIFE LTD NOTE 4.250% 6/1principal59,525,000$56.2M0

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 0000935836-25-000701 base2025-11-14acceptance time not in the bulk data set