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Jeremy Grantham Portfolio

Jeremy Grantham co-founded the investment firm known as GMO.

Grantham, Mayo, Van Otterloo & Co. LLC Holdings · Q3 2025

Disclosed value
$35.4B
Holdings
597
Top sector
Technology
Filed
Nov 13, 2025
Performance
YTD
+7.4%
−1.6% vs S&P 500
1Y
+18.7%
+2.0% vs S&P 500
3Y
+48.3%
−14.4% vs S&P 500
Jeremy Grantham's latest portfolio (Q3 2025) holds 597 stocks worth $35.4B. Top holdings: Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Meta Platforms, Inc. (META).Biggest last-quarter moves:

Grantham, Mayo, Van Otterloo & Co. LLC Holdings · 597

Q3 2025 · Showing 15 positions from the selected holding view.

Estimated gain compares the quarter-end mark with a running share-weighted mean of covered-snapshot and add-quarter mean prices. Holdings with incomplete basis or price coverage are excluded.

Stock % Avg. buy price Estimated gain Quarter-end price Last transaction
CApparel - RetailCarter's Inc. (CRI) 0.0%
Avg. buy price $73.52 Estimated gain−61.6%Quarter-end price $28.22 Last transaction Reduced· Q3 2025Sold 23.8% of shares
C 0.0% $73.52 −61.6% $28.22 Reduced· Q3 2025Sold 23.8% of shares
KOil & Gas Exploration & ProductionKosmos Energy Ltd. (KOS) 0.2%
Avg. buy price $3.85 Estimated gain−56.9%Quarter-end price $1.66 Last transaction Reduced· Q3 2025Sold 5.5% of shares
K 0.2% $3.85 −56.9% $1.66 Reduced· Q3 2025Sold 5.5% of shares
DPackaged FoodsDarling Ingredients Inc. (DAR) 0.3%
Avg. buy price $60.68 Estimated gain−49.1%Quarter-end price $30.87 Last transaction Reduced· Q3 2025Sold 1.6% of shares
D 0.3% $60.68 −49.1% $30.87 Reduced· Q3 2025Sold 1.6% of shares
ABusiness Equipment & SuppliesACCO Brands Corporation (ACCO) 0.0%
Avg. buy price $7.43 Estimated gain−46.3%Quarter-end price $3.99 Last transaction Reduced· Q3 2025Sold 25.2% of shares
A 0.0% $7.43 −46.3% $3.99 Reduced· Q3 2025Sold 25.2% of shares
WFinancial - Credit ServicesThe Western Union Company (WU) 0.0%
Avg. buy price $14.72 Estimated gain−45.7%Quarter-end price $7.99 Last transaction Reduced· Q3 2025Sold 3.9% of shares
W 0.0% $14.72 −45.7% $7.99 Reduced· Q3 2025Sold 3.9% of shares
LChemicalsLyondellBasell Industries N.V. (LYB) 0.0%
Avg. buy price $82.29 Estimated gain−40.4%Quarter-end price $49.04 Last transaction Added· Q3 2025Increased shares by 6.3%
L 0.0% $82.29 −40.4% $49.04 Added· Q3 2025Increased shares by 6.3%
WFurnishings, Fixtures & AppliancesWhirlpool Corporation (WHR) 0.0%
Avg. buy price $131.73 Estimated gain−40.3%Quarter-end price $78.60 Last transaction Reduced· Q3 2025Sold 58.4% of shares
W 0.0% $131.73 −40.3% $78.60 Reduced· Q3 2025Sold 58.4% of shares
SOil & Gas Exploration & ProductionSM Energy Company (SM) 0.0%
Avg. buy price $41.78 Estimated gain−40.2%Quarter-end price $24.97 Last transaction Reduced· Q3 2025Sold 10.7% of shares
S 0.0% $41.78 −40.2% $24.97 Reduced· Q3 2025Sold 10.7% of shares
LOil & Gas Equipment & ServicesLiberty Energy Inc. (LBRT) 0.0%
Avg. buy price $20.40 Estimated gain−39.5%Quarter-end price $12.34 Last transaction Reduced· Q3 2025Sold 9.0% of shares
L 0.0% $20.40 −39.5% $12.34 Reduced· Q3 2025Sold 9.0% of shares
SBeverages - AlcoholicConstellation Brands, Inc. (STZ) 1.4%
Avg. buy price $219.77 Estimated gain−38.7%Quarter-end price $134.67 Last transaction Added· Q3 2025Increased shares by 1.0%
S 1.4% $219.77 −38.7% $134.67 Added· Q3 2025Increased shares by 1.0%
BMedical - DevicesBruker Corporation (BRKR) 0.0%
Avg. buy price $49.65 Estimated gain−34.6%Quarter-end price $32.49 Last transaction Added· Q3 2025Increased shares by 0.9%
B 0.0% $49.65 −34.6% $32.49 Added· Q3 2025Increased shares by 0.9%
PSoftware - ApplicationProgress Software Corporation (PRGS) 0.0%
Avg. buy price $66.54 Estimated gain−34.0%Quarter-end price $43.93 Last transaction Reduced· Q3 2025Sold 41.5% of shares
P 0.0% $66.54 −34.0% $43.93 Reduced· Q3 2025Sold 41.5% of shares
PDrug Manufacturers - GeneralPfizer Inc. (PFE) 0.2%
Avg. buy price $37.62 Estimated gain−32.3%Quarter-end price $25.48 Last transaction Reduced· Q3 2025Sold 5.2% of shares
P 0.2% $37.62 −32.3% $25.48 Reduced· Q3 2025Sold 5.2% of shares
UIntegrated Freight & LogisticsUnited Parcel Service, Inc. (UPS) 0.1%
Avg. buy price $122.57 Estimated gain−31.9%Quarter-end price $83.53 Last transaction Added· Q3 2025Increased shares by 17.1%
U 0.1% $122.57 −31.9% $83.53 Added· Q3 2025Increased shares by 17.1%
OSemiconductorsON Semiconductor Corporation (ON) 0.1%
Avg. buy price $71.45 Estimated gain−31.0%Quarter-end price $49.31 Last transaction Reduced· Q3 2025Sold 6.6% of shares
O 0.1% $71.45 −31.0% $49.31 Reduced· Q3 2025Sold 6.6% of shares
Data through Q3 2025 · filed Nov 13, 2025
15 of 132
Show all 132 holdings

Biggest position changes

In Q3 2025: 57 new, 234 added, 271 reduced, 60 exited.
Q1 2026Q4 2025Q3 2025Q2 2025
Largest disclosed changes in Q3 2025, ranked by estimated dollar change using the quarter's average market price.
Reduced or exitedBought or added
O Oracle Corporation (ORCL) −$387M W Wells Fargo & Company (WFC) −$177M G Alphabet Inc. (GOOGL) −$176M K KLA Corporation (KLAC) −$118M A Broadcom Inc. (AVGO) −$77M B British American Tobacco p.l.c. (BTI) −$43M B Alibaba Group Holding Limited (BABA) −$25M J J&J Snack Foods Corp. (JJSF) Exited−$24M C Salesforce, Inc. (CRM) +$215M A Accenture plc (ACN) +$184M L Eli Lilly and Company (LLY) +$169M U UnitedHealth Group Incorporated (UNH) +$159M E Elevance Health Inc. (ELV) +$150M T Thermo Fisher Scientific Inc. (TMO) +$135M T Tradeweb Markets Inc. (TW) +$62M U U.S. Bancorp (USB) +$56M
Other share changes without a dollar estimate, ranked by size.
Reduced or exitedBought or added
R Sunrun Inc. (RUN) −4.4M W Walgreens Boots Alliance, Inc. (WBA) Exited−2.5M A Ambev S.A. (ABEV) Exited−2.4M D Dun & Bradstreet Holdings, Inc. (DNB) Exited−1.5M S SolarEdge Technologies, Inc. (SEDG) −1.3M V Vodafone Group Public Limited Company (VOD) −1.3M P Pacific Premier Bancorp, Inc. (PPBI) Exited−1.0M M MAG Silver Corp. (MAG) Exited−959K B Banco Bradesco S.A. (BBD) New+3.8M S Sandstorm Gold Ltd. (SAND) New+2.2M A AvidXchange Holdings, Inc. (AVDX) +1.8M
Toronto Dominion Bk Ont +753K
W Weibo Corporation (WB) +522K A ACV Auctions Inc. (ACVA) New+508K
Liberty Global Ltd New+453K
V Veritex Holdings, Inc. (VBTX) New+444K

New this quarter

C Clean Harbors, Inc. (CLH) New· Q3 2025 N News Corporation (NWSA) New· Q3 2025 B Barrick Mining Corporation (B) New· Q3 2025 A Air Lease Corporation (AL) New· Q3 2025 H Helmerich & Payne, Inc. (HP) New· Q3 2025 Z ZIM Integrated Shipping Services Ltd. (ZIM) New· Q3 2025 T Textron Inc. (TXT) New· Q3 2025 A Alcoa Corporation (AA) New· Q3 2025

Portfolio composition

Largest holdings in Q3 2025, sized by their share of the disclosed portfolio. This shows what is owned, not what changed.

Constellation Brands, Inc. (STZ): 1.4%Darling Ingredients Inc. (DAR): 0.3%Pfizer Inc. (PFE): 0.2%Kosmos Energy Ltd. (KOS): 0.2%United Parcel Service, Inc. (UPS): 0.1%Other holdings: 97.8%
S Constellation Brands, Inc. (STZ) 1.4%
D Darling Ingredients Inc. (DAR) 0.3%
P Pfizer Inc. (PFE) 0.2%
K Kosmos Energy Ltd. (KOS) 0.2%
U United Parcel Service, Inc. (UPS) 0.1%
Other holdings 97.8%
Show more

Portfolio over time

Each band is a top holding's share of the disclosed portfolio, quarter by quarter; the rest is grouped as other.
3Y5YAll
0%50%100%202120222023202420252026
Microsoft Corporation (MSFT)Alphabet Inc. (GOOGL)Johnson & Johnson (JNJ)Apple Inc. (AAPL)Meta Platforms, Inc. (META)Lam Research Corporation (LRCX)Amazon.com, Inc. (AMZN)Thermo Fisher Scientific Inc. (TMO)Other holdings

Investors with similar portfolios

InvescoInvesco Ltd.Also holds Microsoft Corporation (MSFT) and Alphabet Inc. (GOOGL)Tiger Global ManagementTiger Global Management LLCAlso holds Alphabet Inc. (GOOGL) and Amazon.com, Inc. (AMZN)Ken FisherFisher Asset Management, LLCAlso holds Apple Inc. (AAPL) and Alphabet Inc. (GOOGL)Coatue ManagementCoatue Management LLCAlso holds Lam Research Corporation (LRCX) and Taiwan Semiconductor Manufacturing Company Limited (TSM)Ken GriffinCitadel Advisors LLCAlso holds Microsoft Corporation (MSFT) and Apple Inc. (AAPL)Bill AckmanPershing Square Capital Management, L.P.Also holds Microsoft Corporation (MSFT) and Amazon.com, Inc. (AMZN)

About Jeremy Grantham and Grantham, Mayo, Van Otterloo & Co. LLC

Jeremy Grantham co-founded the investment firm known as GMO. This page shows GMO's quarterly Form 13F report of certain United States listed long positions, not Grantham's personal account or every GMO strategy. Cash, short positions, private investments, many derivatives, and trades completed before quarter end may be absent.

SEC filing history for Grantham, Mayo, Van Otterloo & Co. LLC

Jeremy Grantham FAQ

Profile refreshed July 20, 2026

What stocks does Jeremy Grantham own?

As of the Q3 2025 filing, Jeremy Grantham's largest disclosed holdings are Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Meta Platforms, Inc. (META). The table shows 15 of 597 positions by default, with an exact-count control for the remaining rows. Disclosed shares and values remain visible even when a separate market-price estimate is unavailable.

What did Jeremy Grantham buy last quarter?

The biggest disclosed buys in Q3 2025 were Salesforce, Inc. (CRM), Accenture plc (ACN), Eli Lilly and Company (LLY), based on the Grantham, Mayo, Van Otterloo & Co. LLC 13F filing. New positions are marked "new" in the table above.

What did Jeremy Grantham sell last quarter?

The biggest reductions in Q3 2025 were Oracle Corporation (ORCL), Wells Fargo & Company (WFC), Alphabet Inc. (GOOGL). The filing comparison contains 60 full exits, summarized in the activity view above.

How big is Jeremy Grantham's portfolio?

The latest 13F discloses $35.4B across 597 positions in Q3 2025. 13F filings cover US-listed long positions only; cash and short positions are not disclosed.

How up to date is this?

Funds file 13Fs up to 45 days after each quarter ends, so this portfolio reflects Q3 2025, the latest disclosed quarter. The filing date is shown with every table.

Where does the Grantham, Mayo, Van Otterloo & Co. LLC portfolio data come from?

Non-rejected, non-superseded SEC Form 13F filings for Grantham, Mayo, Van Otterloo & Co. LLC provide the Q3 2025 holdings, disclosed values, and filing date shown here. WhoBought prefers filings whose value units validate and labels a sparse filing when validation is unavailable. Industry labels come from the local company classification record.

How is performance calculated?

Performance uses daily closing prices for holdings with available market-price history. It covers the priced share of disclosed value (82%); holdings without sufficient price history are excluded from the calculation.

Who is Jeremy Grantham?

Jeremy Grantham is a British investor who co-founded GMO in 1977 and serves as the firm's chief investment strategist.

What does reversion to the mean mean in Grantham's work?

He expects markets and asset classes that move far above or below their historical norms eventually to move back toward them. GMO uses long-run history when forming asset-allocation views.

Why is Grantham associated with market bubbles?

He built his reputation by warning about extreme valuations and limiting exposure during the Japanese asset bubble, the technology boom, and the United States housing bubble.

Can Jeremy Grantham predict exactly when a bubble will burst?

No. Grantham has said that recognizing an overpriced bubble is different from knowing when it will collapse, which he considers impossible to time precisely.

Did Grantham help start an early index fund?

Yes. In 1971 he helped establish one of the earliest index funds at Batterymarch Financial Management, although the idea was unusual at the time and the fund was not successful.

Is this Jeremy Grantham's personal portfolio or net worth?

No. It is a filing by GMO, covering only part of the firm's investment activity. It is not Grantham's personal balance sheet.

Does this page prove Grantham's track record or reproduce his approach?

No. His record includes successful historical warnings and periods when the approach lagged the market, but this holdings page is not a return series and cannot show all of GMO's asset-allocation, short, derivative, or non-US positions.

What environmental work has Grantham supported?

Grantham and his wife established the Grantham Foundation for the Protection of the Environment in 1997. It has supported climate research and environmental institutions.