Sanders Capital, LLC
Reported holdings as of Q2 2026, from 63 quarterly filings.
Holdings
Download these holdings as CSV
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $12.5B | 26,149,064 | +1.21pp | 48q | -6.8%-$912.6M | |
| ALPHABET INC | GOOG | $9.7B | 27,472,939 | -0.10pp | 40q | -4.4%-$445.2M | |
| AMAZON COM INC | AMZN | $7.0B | 29,352,719 | -0.39pp | 9q | -1.6%-$111.1M | |
| META PLATFORMS INC | META | $6.1B | 10,823,070 | -1.09pp | 32q | +2.4%+$145.5M | |
| MICROSOFT CORP | MSFT | $6.0B | 16,102,026 | +0.55pp | 63q | +29.9%+$1.4B | |
| NVIDIA CORPORATION | NVDA | $4.5B | 22,560,894 | +3.04pp | 2q | +216.6%+$3.1B | |
| APPLIED MATLS INC | AMAT | $4.4B | 6,094,372 | +1.90pp | 5q | -1.3%-$58.4M | |
| HCA Healthcare, Inc. | HCA | $3.4B | 8,828,287 | -1.60pp | 25q | -1.4%-$50.2M | |
| SEAGATE TECHNOLOGY HLDNGS PL | STX | $3.4B | 3,487,219 | -2.65pp | 20q | -73.0%-$9.1B | |
| APPLE INC | AAPL | $3.0B | 10,528,191 | -0.24pp | 52q | -3.1%-$98.8M | |
| THE CIGNA GROUP | CI | $2.8B | 10,144,617 | -0.47pp | 31q | -1.4%-$40.2M | |
| DELTA AIR LINES INC | DAL | $2.7B | 29,129,629 | +0.40pp | 10q | -1.1%-$31.6M | |
| BANK OF AMER CORP | BAC | $2.6B | 46,345,469 | +0.02pp | 55q | +2.6%+$67.1M | |
| UNITEDHEALTH GROUP INC | UNH | $2.5B | 5,898,634 | +0.53pp | 63q | -1.1%-$27.5M | |
| ELEVANCE HEALTH INC FORMERLY | ELV | $2.3B | 5,825,024 | +0.20pp | 47q | -1.2%-$26.8M | |
| UNITED AIRLS HLDGS INC | UAL | $2.0B | 15,027,948 | +0.38pp | 9q | -1.2%-$24.0M | |
| BROADCOM INC | AVGO | $2.0B | 5,163,630 | - | new | NEW | |
| RTX CORPORATION | RTX | $1.8B | 9,277,878 | -0.40pp | 14q | -1.4%-$24.6M | |
| VISA INC | V | $1.6B | 4,796,303 | -0.10pp | 7q | -1.3%-$22.4M | |
| STATE STR SPDR S&P 500 ETF T | SPY | $1.5B | 2,036,906 | -0.74pp | 59q | -30.3%-$661.7M | |
| SALESFORCE INC | CRM | $1.5B | 9,615,354 | -0.61pp | 3q | +0.9%+$13.0M | |
| DISNEY WALT CO | DIS | $1.3B | 13,780,700 | - | new | NEW | |
| ASTRAZENECA PLC | AZN | $1.3B | 6,986,830 | -0.33pp | 2q | -1.1%-$14.9M | |
| BOOKING HOLDINGS INC | BKNG | $1.3B | 7,414,965 | +1.26pp | 24q | -1.0%-$12.8M | |
| GENERAL DYNAMICS CORP | GD | $1.3B | 3,546,156 | -0.22pp | 14q | -2.0%-$25.2M | |
| JPMORGAN CHASE & CO | JPM | $1.3B | 3,837,596 | -0.11pp | 63q | -1.5%-$19.3M | |
| MASTERCARD INCORPORATED | MA | $1.2B | 2,330,359 | -0.21pp | 7q | -1.3%-$15.4M | |
| CME GROUP INC | CME | $1.1B | 5,067,740 | -0.34pp | 4q | +21.8%+$200.2M | |
| ULTA BEAUTY INC | ULTA | $1.1B | 2,460,969 | -0.08pp | 6q | +29.0%+$249.3M | |
| LOCKHEED MARTIN CORP | LMT | $1.1B | 2,093,533 | +0.25pp | 4q | +83.5%+$485.3M | |
| PROCTER & GAMBLE CO | PG | $975.0M | 6,648,957 | -0.19pp | 21q | -1.5%-$15.0M | |
| NORTHROP GRUMMAN CORP | NOC | $931.1M | 1,828,249 | -0.59pp | 20q | -2.1%-$19.9M | |
| ROYAL CARIBBEAN GROUP | RCL | $826.6M | 2,603,252 | - | new | NEW | |
| VANGUARD INTL EQUITY INDEX F | VEU | $656.6M | 7,839,638 | -0.24pp | 59q | -21.4%-$179.2M | |
| PDD HOLDINGS INC | PDD | $605.4M | 7,936,717 | -0.38pp | 7q | -1.9%-$11.8M | |
| TRIP COM GROUP LTD | TCOM | $420.7M | 10,560,564 | -0.21pp | 9q | -0.8%-$3.2M | |
| MCCORMICK & CO INC | MKC | $408.8M | 8,107,755 | - | new | NEW | |
| HSBC HLDGS PLC | HSBC | $250.3M | 2,632,430 | -0.03pp | 13q | -6.2%-$16.6M | |
| ABBVIE INC | ABBV | $121.8M | 483,963 | -0.01pp | 54q | -6.3%-$8.2M | |
| ABBOTT LABORATORIES | ABT | $95.3M | 1,050,405 | -0.04pp | 11q | -6.3%-$6.4M | |
| TRUIST FINL CORP | TFC | $95.1M | 1,909,022 | -0.02pp | 27q | -6.3%-$6.4M | |
| PEPSICO INC | PEP | $71.8M | 530,401 | -0.26pp | 38q | -70.1%-$168.3M | |
| UNILEVER PLC | UL | $14.2M | 235,435 | +0.01pp | 3q | +157.2%+$8.7M | |
| SHINHAN FINANCIAL GROUP CO L | SHG | $7.6M | 119,936 | flat | 55q | -21.9%-$2.1M | |
| ING GROEP N.V. | ING | $3.5M | 112,785 | flat | 24q | -2.7%-$97.3K | |
| NATWEST GROUP PLC | NWG | $3.2M | 179,964 | flat | 16q | -2.8%-$89.9K | |
| SYNCHRONY FINANCIAL | SYF | $210.9K | 2,773 | flat | 43q | -85.3%-$1.2M |
Q2 2026 in brief
Sanders Capital, Llc reported 47 positions worth $99.8B for Q2 2026, filed 41 days after the quarter ended. Its five largest holdings made up 41.4% of the portfolio. It added most to Nvidia Corporation (about $3.1B), Microsoft Corp (about $1.4B) and Lockheed Martin Corp (about $485.3M). It cut Seagate Technology Hldngs Pl (about $9.1B), Taiwan Semiconductor Manufac (about $912.6M) and State Str Spdr S&P 500 Etf T (about $661.7M). New positions: Broadcom Inc ($2.0B), Disney Walt Co ($1.3B) and Royal Caribbean Group ($826.6M). Sold out of: Accenture Plc Ireland. Longest held of its top ten: Microsoft Corp, 63 quarters in a row - every quarter on file.
Dollar amounts for buying and selling are estimates: the change in shares at the quarter-end price implied by the filing. A 13F shows long US stock positions only, at quarter end.
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Semiconductors & Electronics | $23.4B | 23.4% |
| Software & IT Services | $23.3B | 23.4% |
| Retail & Consumer | $8.1B | 8.1% |
| Insurance | $7.5B | 7.5% |
| Transport & Logistics | $6.9B | 6.9% |
| Computer Hardware | $6.4B | 6.4% |
| Autos & Aerospace | $5.0B | 5.0% |
| Banks & Lending | $4.3B | 4.3% |
| Business Services | $3.9B | 3.9% |
| Healthcare Services | $3.4B | 3.4% |
| Biotech & Pharma | $1.5B | 1.5% |
| Funds & ETFs | $1.5B | 1.5% |
| Other sectors | $3.9B | 3.9% |
| Not classified | $656.6M | 0.7% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +21.5% | +14.8% | +6.6% | 100% |
| Q1 2026 | -2.0% | -4.6% | +2.6% | 100% |
| Q4 2025 | +6.3% | +2.4% | +3.9% | 100% |
| Q3 2025 | +12.5% | +7.8% | +4.7% | 100% |
| Q2 2025 | +12.1% | +10.5% | +1.7% | 100% |
| Q1 2025 | -3.7% | -4.6% | +0.9% | 100% |
| Q4 2024 | -1.2% | +2.1% | -3.3% | 100% |
| Q3 2024 | +5.5% | +5.4% | +0.1% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $99.8B | 47 | 4 | 9 | 34 | 1 | 60.2% | 41 |
| Q1 2026 | $83.9B | 44 | 2 | 14 | 19 | 2 | 61.5% | 44 |
| Q4 2025 | $86.8B | 44 | 2 | 10 | 21 | 5 | 61.8% | 44 |
| Q3 2025 | $81.3B | 47 | 2 | 13 | 25 | 2 | 61.5% | 44 |
| Q2 2025 | $74.5B | 47 | 2 | 4 | 32 | 2 | 62.4% | 39 |
| Q1 2025 | $66.9B | 47 | 1 | 10 | 30 | 0 | 61.5% | 44 |
| Q4 2024 | $68.4B | 46 | 4 | 26 | 10 | 3 | 65.7% | 44 |
| Q3 2024 | $69.0B | 45 | 1 | 13 | 8 | 1 | 64.4% | 44 |
| Q2 2024 | $65.3B | 45 | 3 | 22 | 11 | 0 | 65.0% | 40 |
| Q1 2024 | $59.9B | 42 | 1 | 29 | 4 | 3 | 64.5% | 40 |
| Q4 2023 | $54.1B | 44 | 2 | 29 | 5 | 2 | 63.2% | 43 |
| Q3 2023 | $47.3B | 44 | 1 | 17 | 2 | 6 | 63.9% | 40 |
| Q2 2023 | $47.9B | 49 | 3 | 23 | 17 | 2 | 64.9% | 42 |
| Q1 2023 | $42.2B | 48 | 3 | 18 | 20 | 1 | 63.9% | 40 |
| Q4 2022 | $38.1B | 46 | 4 | 1 | 41 | 0 | 62.6% | 41 |
| Q3 2022 | $72.7B | 42 | 1 | 41 | 0 | 1 | 65.3% | 45 |
| Q2 2022 | $39.5B | 42 | 0 | 6 | 11 | 2 | 63.7% | 43 |
| Q1 2022 | $46.0B | 44 | 2 | 18 | 5 | 2 | 65.9% | 146 |
| Q4 2021 | $49.0B | 44 | 0 | 25 | 12 | 1 | 66.9% | 237 |
| Q3 2021 | $44.1B | 45 | 3 | 20 | 12 | 4 | 63.6% | 328 |
| Q2 2021 | $44.1B | 46 | 2 | 27 | 8 | 0 | 62.4% | 420 |
| Q1 2021 | $41.5B | 44 | 1 | 17 | 18 | 1 | 60.7% | 511 |
| Q4 2020 | $37.9B | 44 | 1 | 28 | 8 | 2 | 59.9% | 615 |
| Q3 2020 | $29.2B | 45 | 4 | 30 | 10 | 1 | 61.8% | 707 |
| Q2 2020 | $26.8B | 42 | 5 | 21 | 12 | 3 | 64.3% | 799 |
| Q1 2020 | $21.3B | 40 | 0 | 16 | 20 | 2 | 64.0% | 890 |
| Q4 2019 | $28.3B | 42 | 2 | 29 | 10 | 0 | 55.2% | 981 |
| Q3 2019 | $22.3B | 40 | 0 | 11 | 13 | 0 | 54.7% | 1,073 |
| Q2 2019 | $21.8B | 40 | 0 | 33 | 2 | 2 | 52.9% | 1,165 |
| Q1 2019 | $20.8B | 42 | 0 | 30 | 5 | 2 | 50.9% | 1,256 |
| Q4 2018 | $18.0B | 44 | 4 | 21 | 9 | 3 | 50.3% | 1,346 |
| Q3 2018 | $19.8B | 43 | 3 | 10 | 16 | 1 | 54.1% | 1,438 |
| Q2 2018 | $18.6B | 41 | 2 | 13 | 14 | 1 | 52.6% | 1,530 |
| Q1 2018 | $18.0B | 40 | 0 | 9 | 14 | 1 | 53.7% | 1,621 |
| Q4 2017 | $18.4B | 41 | 5 | 24 | 5 | 2 | 55.4% | 1,711 |
| Q3 2017 | $16.6B | 38 | 1 | 23 | 8 | 1 | 54.9% | 1,803 |
| Q2 2017 | $15.6B | 38 | 0 | 23 | 11 | 2 | 54.5% | 1,895 |
| Q1 2017 | $15.1B | 40 | 1 | 20 | 11 | 3 | 54.1% | 1,986 |
| Q4 2016 | $14.1B | 42 | 1 | 22 | 18 | 3 | 53.8% | 2,076 |
| Q3 2016 | $12.7B | 44 | 1 | 22 | 11 | 4 | 53.7% | 2,168 |
| Q2 2016 | $12.1B | 47 | 0 | 12 | 14 | 2 | 50.7% | 2,260 |
| Q1 2016 | $11.6B | 49 | 2 | 28 | 9 | 1 | 49.6% | 2,351 |
| Q4 2015 | $10.9B | 48 | 3 | 25 | 13 | 4 | 48.2% | 2,442 |
| Q3 2015 | $10.0B | 49 | 2 | 14 | 17 | 1 | 50.2% | 2,534 |
| Q2 2015 | $10.6B | 48 | 1 | 8 | 16 | 1 | 49.3% | 2,626 |
| Q1 2015 | $10.1B | 48 | 1 | 9 | 33 | 5 | 47.7% | 2,717 |
| Q4 2014 | $10.2B | 52 | 3 | 23 | 7 | 6 | 49.6% | 2,807 |
| Q3 2014 | $9.4B | 55 | 1 | 25 | 14 | 1 | 47.5% | 2,899 |
| Q2 2014 | $9.0B | 55 | 1 | 35 | 8 | 2 | 46.8% | 2,991 |
| Q1 2014 | $8.6B | 56 | 1 | 11 | 33 | 2 | 43.1% | 3,082 |
| Q4 2013 | $8.4B | 57 | 4 | 29 | 12 | 3 | 42.2% | 3,172 |
| Q3 2013 | $7.3B | 56 | 2 | 10 | 11 | 2 | 41.8% | 3,264 |
| Q2 2013 | $7.3B | 56 | 3 | 20 | 19 | 4 | 42.6% | 3,356 |
| Q1 2013 | $6.8B | 57 | 1 | 39 | 4 | 3 | 40.9% | 3,447 |
| Q4 2012 | $6.0B | 59 | 4 | 32 | 7 | 1 | 41.2% | 3,537 |
| Q3 2012 | $5.6B | 56 | 3 | 29 | 8 | 8 | 43.2% | 3,629 |
| Q2 2012 | $5.0B | 61 | 2 | 29 | 5 | 1 | 45.0% | 3,721 |
| Q1 2012 | $5.1B | 60 | 4 | 26 | 12 | 0 | 42.7% | 3,812 |
| Q4 2011 | $4.2B | 56 | 9 | 34 | 7 | 4 | 42.6% | 3,903 |
| Q3 2011 | $3.4B | 51 | 3 | 34 | 3 | 5 | 42.9% | 3,995 |
| Q2 2011 | $4.0B | 53 | 1 | 22 | 10 | 1 | 40.2% | 4,087 |
| Q1 2011 | $4.0B | 53 | 1 | 15 | 11 | 5 | 39.3% | 4,178 |
| Q4 2010 | $4.0B | 57 | 0 | 0 | 0 | 0 | 39.6% | 4,268 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.