ACADEMY CAPITAL MANAGEMENT Long-Term Concentrated

Location: Waco, TX

CIK: 0001031972 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 2, 2026

Total Value: $753M (100.0% shares, 0.0% debt)

Holdings (41)

AAPL APPLE INC 10.4%

Value $77.92M Shares 286,620 Est. Cost $143.79 Unrealized +86.6%

— ALPHABET C 8.7%

Value $65.22M Shares 207,830 Est. Cost $140.93 Unrealized —

MSFT MICROSOFT CORP 8.4%

Value $63.52M Shares 131,339 Est. Cost $272.43 Unrealized +83.7%

AMZN AMAZON.COM INC 8.1%

Value $61.25M Shares 265,379 Est. Cost $120.36 Unrealized +90.1%

— META PLATFORMS 7.9%

Value $59.77M Shares 90,553 Est. Cost $360.87 Unrealized —

— MASTERCARD INC 7.7%

Value $58.09M Shares 101,759 Est. Cost $426.51 Unrealized —

BRK/B BERKSHIRE B 7.2%

Value $54.35M Shares 108,119 Est. Cost $212.20 Unrealized +134.5%

— ALPHABET A 7.0%

Value $52.6M Shares 168,051 Est. Cost $139.69 Unrealized —

TSM TAIWAN SEMI 6.2%

Value $46.9M Shares 154,344 Est. Cost $133.27 Unrealized —

— PRIMERICA INC 4.5%

Value $34.18M Shares 132,306 Est. Cost $99.63 Unrealized —

— ZOETIS INC CLASS 3.9%

Value $29.51M Shares 234,527 Est. Cost $133.53 Unrealized —

— UNITEDHEALTH 3.8%

Value $28.4M Shares 86,017 Est. Cost $312.47 Unrealized —

— IDEXX LABS INC 3.2%

Value $23.84M Shares 35,240 Est. Cost $548.33 Unrealized —

NVO NOVO NORDISK 2.5%

Value $18.61M Shares 365,783 Est. Cost $76.39 Unrealized —

LVMUY LVMH MOET 2.3%

Value $17.34M Shares 114,977 Est. Cost $122.40 Unrealized —

— POOL CORP 2.0%

Value $15.28M Shares 66,808 Est. Cost $272.25 Unrealized —

— SP GLOBAL INC 1.4%

Value $10.21M Shares 19,533 Est. Cost $447.38 Unrealized —

C CITIGRP INC 1.0%

Value $7.245M Shares 62,091 Est. Cost $59.19 Unrealized +75.1%

— EXXON MOBIL 0.7%

Value $5.476M Shares 45,507 Est. Cost $110.14 Unrealized —

— ALIBABA GRP 0.5%

Value $4.139M Shares 28,235 Est. Cost $78.94 Unrealized —

NSRGY NESTLE ADR 0.4%

Value $3.362M Shares 34,035 Est. Cost $80.94 Unrealized —

— CME GRP INC 0.4%

Value $3.265M Shares 11,955 Est. Cost $210.60 Unrealized —

TRV TRAVELERS COMP 0.4%

Value $3.08M Shares 10,617 Est. Cost $211.74 Unrealized +32.5%

PEP PEPSICO INC 0.3%

Value $1.933M Shares 13,469 Est. Cost $87.15 Unrealized +67.4%

STEL STELLAR BANCORP 0.1%

Value $1.074M Shares 34,720 Est. Cost $30.96 Unrealized -0.8%

— CADENCE BK 0.1%

Value $897K Shares 20,950 Est. Cost $31.98 Unrealized —

— VISA INC CLASS A 0.1%

Value $735K Shares 2,095 Est. Cost $317.82 Unrealized —

— NEXTERA ENGY 0.1%

Value $563K Shares 7,016 Est. Cost $77.26 Unrealized —

— NETFLIX INC 0.1%

Value $544K Shares 5,800 Est. Cost $133.07 Unrealized —

GLW CORNING INC 0.1%

Value $457K Shares 5,215 Est. Cost $46.35 Unrealized +85.5%

CVX CHEVRON CORP 0.1%

Value $453K Shares 2,975 Est. Cost $145.50 Unrealized +4.1%

Value $377K Shares 1,823 Est. Cost $149.59 Unrealized +31.7%

— RTX CORP 0.0%

Value $359K Shares 1,956 Est. Cost $115.72 Unrealized —

BHC BAUSCH HEALTH 0.0%

Value $294K Shares 42,288 Est. Cost $21.68 Unrealized -69.7%

— TESLA MOTORS 0.0%

Value $284K Shares 631 Est. Cost $272.54 Unrealized —

LUV SOUTHWEST AIR 0.0%

Value $270K Shares 6,521 Est. Cost $31.07 Unrealized +12.0%

— MERCK & CO. INC. 0.0%

Value $266K Shares 2,524 Est. Cost $99.48 Unrealized —

EMR EMERSON ELECTRIC 0.0%

Value $217K Shares 1,636 Est. Cost $113.54 Unrealized +16.6%

APD AIR PROD & CHEM 0.0%

Value $209K Shares 845 Est. Cost $304.00 Unrealized -17.2%

PFE PFIZER INC 0.0%

Value $51,045 Shares 2,050 Est. Cost $25.03 Unrealized 0.0%

— PROVECTUS BIO 0.0%

Value $1,118 Shares 20,000 Est. Cost $0.10 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	286,620	$77.92M	10.4%	$143.79	+86.6%	com	037833100
—	ALPHABET C	207,830	$65.22M	8.7%	$140.93	—	com	02079k107
MSFT	MICROSOFT CORP	131,339	$63.52M	8.4%	$272.43	+83.7%	com	594918104
AMZN	AMAZON.COM INC	265,379	$61.25M	8.1%	$120.36	+90.1%	com	023135106
—	META PLATFORMS	90,553	$59.77M	7.9%	$360.87	—	com	30303m102
—	MASTERCARD INC	101,759	$58.09M	7.7%	$426.51	—	com	57636q104
BRK/B	BERKSHIRE B	108,119	$54.35M	7.2%	$212.20	+134.5%	com	084670702
—	ALPHABET A	168,051	$52.6M	7.0%	$139.69	—	com	02079k305
TSM	TAIWAN SEMI	154,344	$46.9M	6.2%	$133.27	—	com	874039100
—	PRIMERICA INC	132,306	$34.18M	4.5%	$99.63	—	com	74164m108
—	ZOETIS INC CLASS	234,527	$29.51M	3.9%	$133.53	—	com	98978v103
—	UNITEDHEALTH	86,017	$28.4M	3.8%	$312.47	—	com	91324p102
—	IDEXX LABS INC	35,240	$23.84M	3.2%	$548.33	—	com	45168d104
NVO	NOVO NORDISK	365,783	$18.61M	2.5%	$76.39	—	com	670100205
LVMUY	LVMH MOET	114,977	$17.34M	2.3%	$122.40	—	com	502441306
—	POOL CORP	66,808	$15.28M	2.0%	$272.25	—	com	73278l105
—	SP GLOBAL INC	19,533	$10.21M	1.4%	$447.38	—	com	78409v104
C	CITIGRP INC	62,091	$7.245M	1.0%	$59.19	+75.1%	com	172967424
—	EXXON MOBIL	45,507	$5.476M	0.7%	$110.14	—	com	30231g102
—	ALIBABA GRP	28,235	$4.139M	0.5%	$78.94	—	com	01609w102
NSRGY	NESTLE ADR	34,035	$3.362M	0.4%	$80.94	—	com	641069406
—	CME GRP INC	11,955	$3.265M	0.4%	$210.60	—	com	12572q105
TRV	TRAVELERS COMP	10,617	$3.08M	0.4%	$211.74	+32.5%	com	89417E109
PEP	PEPSICO INC	13,469	$1.933M	0.3%	$87.15	+67.4%	com	713448108
STEL	STELLAR BANCORP	34,720	$1.074M	0.1%	$30.96	-0.8%	com	858927106
—	CADENCE BK	20,950	$897K	0.1%	$31.98	—	com	12740c103
—	VISA INC CLASS A	2,095	$735K	0.1%	$317.82	—	com	92826c839
—	NEXTERA ENGY	7,016	$563K	0.1%	$77.26	—	com	65339f101
—	NETFLIX INC	5,800	$544K	0.1%	$133.07	—	com	64110l106
GLW	CORNING INC	5,215	$457K	0.1%	$46.35	+85.5%	com	219350105
CVX	CHEVRON CORP	2,975	$453K	0.1%	$145.50	+4.1%	com	166764100
JNJ	J&J	1,823	$377K	0.1%	$149.59	+31.7%	com	478160104
—	RTX CORP	1,956	$359K	0.0%	$115.72	—	com	75513e101
BHC	BAUSCH HEALTH	42,288	$294K	0.0%	$21.68	-69.7%	com	071734107
—	TESLA MOTORS	631	$284K	0.0%	$272.54	—	com	88160r101
LUV	SOUTHWEST AIR	6,521	$270K	0.0%	$31.07	+12.0%	com	844741108
—	MERCK & CO. INC.	2,524	$266K	0.0%	$99.48	—	com	58933y105
EMR	EMERSON ELECTRIC	1,636	$217K	0.0%	$113.54	+16.6%	com	291011104
APD	AIR PROD & CHEM	845	$209K	0.0%	$304.00	-17.2%	com	009158106
PFE	PFIZER INC	2,050	$51,045	0.0%	$25.03	0.0%	com	717081103
—	PROVECTUS BIO	20,000	$1,118	0.0%	$0.10	—	com	74373p108