Applied Finance Capital Management, LLC

SAN JUAN, PR · CIK 1966007 · 13F filing filed 2026-07-28

SEC-registered investment adviser since 2015 · limited liability company

Assets managed$4.4bn
Staff3 · 2 in investment roles
Main clients (by assets)Mutual funds and ETFs 45%, Sovereign wealth funds 15%, Other advisers 8%
Websiteappliedfinance.com
Form ADV · 2026-03-30SEC adviser record

Kindmutual funds

$1.3bn reported value +0.8% vs Q1 2026

218positions

33.8%in top 10

46 new 52 added 118 reduced 46 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	APPLE INC COM AAPL	AAPL	225,701	$65.3m4.86%	4.86%	Reduced -10.2k	-10,230 -4.3%
2	APPLIED MATLS INC COM AMAT	AMAT	83,758	$60.6m4.51%	4.51%	Reduced -45.4k	-45,385 -35.1%
3	KLA CORP COM NEW KLAC	KLAC	185,356	$55.9m4.16%	4.16%	Reduced -84.9k	-84,904 -31.4%
4	MICROSOFT CORP COM MSFT	MSFT	141,576	$52.8m3.93%	3.93%	Added +15.6k	+15,557 12.3%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	123,175	$44.0m3.28%	3.28%	Reduced -16.5k	-16,453 -11.8%
6	CISCO SYS INC COM CSCO	CSCO	350,893	$41.2m3.07%	3.07%	Reduced -108.5k	-108,478 -23.6%
7	NVIDIA CORPORATION COM NVDA	NVDA	192,007	$38.4m2.86%	2.86%	Added +37.1k	+37,080 23.9%
8	META PLATFORMS INC CL A META	META	64,450	$36.3m2.70%	2.70%	Reduced -1.7k	-1,664 -2.5%
9	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	107,214	$30.1m2.24%	2.24%	Reduced -1.0k	-1,011 -0.9%
10	HP INC COM HPQ	HPQ	1,318,305	$28.9m2.15%	2.15%	Reduced -96.7k	-96,678 -6.8%
11	MASTERCARD INCORPORATED CL A MA	MA	49,689	$25.5m1.90%	1.90%	Reduced -9.0k	-8,973 -15.3%
12	UNITED RENTALS INC COM URI	URI	22,095	$25.0m1.86%	1.86%	Added +374	+374 1.7%
13	ORACLE CORP COM ORCL	ORCL	164,825	$24.2m1.80%	1.80%	Added +8.9k	+8,907 5.7%
14	MARRIOTT INTL INC NEW CL A MAR	MAR	63,990	$23.7m1.77%	1.77%	Added +52.3k	+52,283 446.6%
15	ROPER TECHNOLOGIES INC COM ROP	ROP	66,661	$22.6m1.68%	1.68%	Reduced -1.9k	-1,928 -2.8%
16	CUMMINS INC COM CMI	CMI	30,633	$21.8m1.63%	1.63%	Reduced -5.6k	-5,558 -15.4%
17	DISNEY WALT CO COM DIS	DIS	226,422	$21.8m1.62%	1.62%	Reduced -17.6k	-17,603 -7.2%
18	VERIZON COMMUNICATIONS INC COM VZ	VZ	509,998	$21.6m1.61%	1.61%	Reduced -198.6k	-198,602 -28.0%
19	ADOBE INC COM ADBE	ADBE	104,986	$21.5m1.60%	1.60%	Added +4.9k	+4,923 4.9%
20	QUANTA SVCS INC COM PWR	PWR	29,015	$20.9m1.56%	1.56%	Reduced -11.2k	-11,175 -27.8%
21	D R HORTON INC COM DHI	DHI	124,564	$20.3m1.51%	1.51%	Reduced -20.3k	-20,272 -14.0%
22	TRAVELERS COMPANIES INC COM TRV	TRV	60,592	$20.0m1.49%	1.49%	Reduced -18.5k	-18,506 -23.4%
23	BANK AMERICA CORP COM BAC	BAC	335,281	$19.1m1.42%	1.42%	Reduced -58.8k	-58,816 -14.9%
24	JPMORGAN CHASE & CO COM JPM	JPM	58,030	$19.0m1.41%	1.41%	Reduced -10.4k	-10,355 -15.1%
25	UNION PAC CORP COM UNP	UNP	69,269	$18.8m1.40%	1.40%	Reduced -11.1k	-11,140 -13.8%
26	DARDEN RESTAURANTS INC COM DRI	DRI	90,811	$18.7m1.39%	1.39%	Reduced -20.7k	-20,704 -18.6%
27	VALERO ENERGY CORP COM VLO	VLO	71,180	$18.5m1.38%	1.38%	Reduced -18.7k	-18,667 -20.8%
28	METLIFE INC COM MET	MET	217,438	$18.4m1.37%	1.37%	Reduced -34.3k	-34,294 -13.6%
29	AMERIPRISE FINL INC COM AMP	AMP	39,025	$17.9m1.33%	1.33%	Reduced -6.2k	-6,229 -13.8%
30	MERCK & CO INC COM MRK	MRK	133,454	$17.1m1.28%	1.28%	Reduced -45.5k	-45,452 -25.4%
31	WABTEC COM WAB	WAB	62,973	$17.0m1.26%	1.26%	Reduced -19.1k	-19,066 -23.2%
32	APTIV PLC COM SHS APTV	APTV	271,519	$16.7m1.24%	1.24%	Added +2.4k	+2,385 0.9%
33	LOWES COS INC COM LOW	LOW	70,821	$15.6m1.16%	1.16%	Reduced -27.0k	-26,955 -27.6%
34	TARGET CORP COM TGT	TGT	118,102	$15.4m1.15%	1.15%	Reduced -37.5k	-37,464 -24.1%
35	ELI LILLY & CO COM LLY	LLY	12,549	$15.1m1.12%	1.12%	Added +11.6k	+11,605 1229.3%
36	CBRE GROUP INC CL A CBRE	CBRE	111,565	$15.0m1.12%	1.12%	Reduced -1.3k	-1,340 -1.2%
37	KEURIG DR PEPPER INC COM KDP	KDP	452,729	$14.8m1.10%	1.10%	Reduced -48.0k	-47,979 -9.6%
38	ALPHABET INC CAP STK CL C GOOG	GOOG	40,000	$14.1m1.05%	1.05%	Unchanged
39	CVS HEALTH CORP COM CVS	CVS	134,138	$13.9m1.03%	1.03%	Reduced -23.3k	-23,343 -14.8%
40	CONOCOPHILLIPS COM COP	COP	131,131	$13.6m1.02%	1.02%	Reduced -44.0k	-44,004 -25.1%
41	FISERV INC COM FISV	FISV	264,331	$13.0m0.97%	0.97%	Reduced -19.8k	-19,794 -7.0%
42	VISA INC COM CL A V	V	35,674	$12.2m0.91%	0.91%	Reduced -4.1k	-4,089 -10.3%
43	INCYTE CORP COM INCY	INCY	106,768	$12.1m0.90%	0.90%	Reduced -19.6k	-19,638 -15.5%
44	CONSTELLATION BRANDS INC CL A STZ	STZ	83,537	$11.6m0.87%	0.87%	Reduced -15.4k	-15,423 -15.6%
45	STEEL DYNAMICS INC COM STLD	STLD	48,566	$11.1m0.83%	0.83%	Reduced -6.9k	-6,866 -12.4%
46	TYSON FOODS INC CL A TSN	TSN	193,060	$11.1m0.82%	0.82%	Reduced -36.4k	-36,429 -15.9%
47	MCKESSON CORP COM MCK	MCK	14,055	$10.6m0.79%	0.79%	Reduced -3.7k	-3,704 -20.9%
48	BROADCOM INC COM AVGO	AVGO	27,591	$10.4m0.78%	0.78%	Reduced -23.7k	-23,680 -46.2%
49	PUBLIC SVC ENTERPRISE GRP IN COM PEG	PEG	128,243	$10.4m0.77%	0.77%	Reduced -11.1k	-11,095 -8.0%
50	DTE ENERGY CO COM DTE	DTE	67,101	$10.2m0.76%	0.76%	Reduced -12.7k	-12,675 -15.9%
51	SHERWIN WILLIAMS CO COM SHW	SHW	28,262	$9.7m0.72%	0.72%	Reduced -2.3k	-2,345 -7.7%
52	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	18,993	$9.5m0.71%	0.71%	Reduced -4.4k	-4,363 -18.7%
53	DANAHER CORPORATION COM DHR	DHR	48,664	$9.3m0.69%	0.69%	Reduced -2.7k	-2,725 -5.3%
54	STRYKER CORPORATION COM SYK	SYK	27,931	$8.8m0.65%	0.65%	Reduced -7.7k	-7,706 -21.6%
55	REGENERON PHARMACEUTICALS COM REGN	REGN	13,713	$8.6m0.64%	0.64%	Reduced -3.1k	-3,122 -18.5%
56	BOOKING HOLDINGS INC COM BKNG	BKNG	41,555	$7.4m0.55%	0.55%	Added +14.6k	+14,555 53.9%
57	PHILIP MORRIS INTL INC COM PM	PM	40,140	$7.3m0.54%	0.54%	New
58	JOHNSON & JOHNSON COM JNJ	JNJ	25,604	$6.5m0.48%	0.48%	Reduced -11.6k	-11,571 -31.1%
59	ABBVIE INC COM ABBV	ABBV	25,128	$6.3m0.47%	0.47%	Reduced -4.9k	-4,943 -16.4%
60	HILTON WORLDWIDE HLDGS INC COM HLT	HLT	12,606	$4.2m0.31%	0.31%	Added +2.2k	+2,230 21.5%
61	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	45,119	$4.2m0.31%	0.31%	Added +7.6k	+7,551 20.1%
62	ETF OPPORTUNITIES TRUST APPLIED FINA VAL VSLU	VSLU	70,827	$3.3m0.24%	0.24%	Unchanged
63	AUTOZONE INC COM AZO	AZO	882	$2.8m0.21%	0.21%	Added +372	+372 72.9%
64	DELL TECHNOLOGIES INC CL C DELL	DELL	6,487	$2.8m0.21%	0.21%	Reduced -4.1k	-4,104 -38.8%
65	CONSTELLATION ENERGY CORP COM CEG	CEG	10,944	$2.7m0.20%	0.20%	New
66	ALTRIA GROUP INC COM MO	MO	37,486	$2.7m0.20%	0.20%	New
67	LAM RESEARCH CORP COM NEW LRCX	LRCX	6,166	$2.7m0.20%	0.20%	Reduced -2.6k	-2,643 -30.0%
68	AMGEN INC COM AMGN	AMGN	6,845	$2.5m0.18%	0.18%	Reduced -2.2k	-2,188 -24.2%
69	PROGRESSIVE CORP COM PGR	PGR	10,929	$2.4m0.18%	0.18%	Reduced -1.2k	-1,186 -9.8%
70	MONSTER BEVERAGE CORP NEW COM MNST	MNST	21,721	$2.1m0.16%	0.16%	New
71	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	35,950	$2.1m0.15%	0.15%	New
72	YUM BRANDS INC COM YUM	YUM	12,562	$2.0m0.15%	0.15%	Added +666	+666 5.6%
73	GENERAL MTRS CO COM GM	GM	25,805	$2.0m0.15%	0.15%	New
74	GILEAD SCIENCES INC COM GILD	GILD	14,693	$1.9m0.14%	0.14%	Reduced -5.6k	-5,594 -27.6%
75	APPLOVIN CORP COM CL A APP	APP	3,579	$1.8m0.14%	0.14%	New
76	TRANSDIGM GROUP INC COM TDG	TDG	1,313	$1.7m0.13%	0.13%	Added +39	+39 3.1%
77	NORFOLK SOUTHN CORP COM NSC	NSC	5,348	$1.7m0.13%	0.13%	Reduced -718	-718 -11.8%
78	FORD MTR CO COM F	F	120,515	$1.7m0.12%	0.12%	New
79	MOODYS CORP COM MCO	MCO	3,572	$1.6m0.12%	0.12%	Added +667	+667 23.0%
80	T-MOBILE US INC COM TMUS	TMUS	9,573	$1.6m0.12%	0.12%	Added +566	+566 6.3%
81	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	12,587	$1.6m0.12%	0.12%	Added +3.1k	+3,150 33.4%
82	MARSH & MCLENNAN COS INC COM MRSH	MRSH	9,205	$1.5m0.11%	0.11%	New
83	TRANE TECHNOLOGIES PLC SHS TT	TT	3,059	$1.5m0.11%	0.11%	Added +173	+173 6.0%
84	UGI CORP NEW COM UGI	UGI	42,849	$1.5m0.11%	0.11%	Added +5.3k	+5,343 14.2%
85	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	6,428	$1.4m0.11%	0.11%	Added +1.6k	+1,557 32.0%
86	EXPEDIA GROUP INC COM NEW EXPE	EXPE	5,577	$1.4m0.11%	0.11%	Added +3.6k	+3,642 188.2%
87	QUALCOMM INC COM QCOM	QCOM	7,583	$1.4m0.10%	0.10%	Reduced -530	-530 -6.5%
88	AON PLC SHS CL A AON	AON	4,196	$1.4m0.10%	0.10%	New
89	CHENIERE ENERGY INC COM NEW LNG	LNG	5,578	$1.3m0.10%	0.10%	Reduced -7.5k	-7,540 -57.5%
90	COMFORT SYS USA INC COM FIX	FIX	670	$1.3m0.10%	0.10%	Added +147	+147 28.1%
91	VERTIV HOLDINGS CO COM CL A VRT	VRT	3,874	$1.3m0.10%	0.10%	New
92	ONEOK INC NEW COM OKE	OKE	13,837	$1.2m0.09%	0.09%	New
93	HCA HEALTHCARE INC COM HCA	HCA	3,040	$1.2m0.09%	0.09%	Reduced -153	-153 -4.8%
94	SIMON PPTY GROUP INC NEW COM SPG	SPG	5,150	$1.2m0.09%	0.09%	Added +482	+482 10.3%
95	STATE STR CORP COM STT	STT	6,785	$1.2m0.09%	0.09%	Reduced -843	-843 -11.1%
96	MARATHON PETE CORP COM MPC	MPC	4,408	$1.1m0.08%	0.08%	Reduced -1.3k	-1,328 -23.1%
97	PNC FINL SVCS GROUP INC COM PNC	PNC	4,350	$1.1m0.08%	0.08%	Reduced -465	-465 -9.7%
98	AMERICAN TOWER CORP NEW COM AMT	AMT	6,480	$1.1m0.08%	0.08%	Added +155	+155 2.5%
99	ARISTA NETWORKS INC COM SHS ANET	ANET	6,191	$1.1m0.08%	0.08%	Added +255	+255 4.3%
100	DIAMONDBACK ENERGY INC COM FANG	FANG	5,859	$1.0m0.08%	0.08%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
LKQ CORP LKQ	LKQ	662,216	$19.4m662.2k shares
MICRON TECHNOLOGY INC MU	MU	9,348	$3.2m9.3k shares
UNITEDHEALTH GROUP INC UNH	UNH	9,038	$2.4m9.0k shares
ISHARES TR IWD	IWD	11,205	$2.4m11.2k shares
MONDELEZ INTL INC MDLZ	MDLZ	33,132	$1.9m33.1k shares
SOUTHERN CO SO	SO	19,366	$1.9m19.4k shares
KROGER CO KR	KR	17,694	$1.3m17.7k shares
NRG ENERGY INC NRG	NRG	8,748	$1.3m8.7k shares
PARKER-HANNIFIN CORP PH	PH	1,269	$1.1m1.3k shares
HERSHEY CO HSY	HSY	5,236	$1.1m5.2k shares
HALLIBURTON CO HAL	HAL	22,085	$861.1k22.1k shares
CHUBB LIMITED CB	CB	2,364	$770.5k2.4k shares
RESTAURANT BRANDS INTL INC QSR	QSR	9,899	$731.5k9.9k shares
FREEPORT-MCMORAN INC FCX	FCX	12,403	$729.0k12.4k shares
WHIRLPOOL CORP WHR	WHR	12,185	$657.0k12.2k shares
SALESFORCE INC CRM	CRM	3,519	$656.9k3.5k shares
MOTOROLA SOLUTIONS INC MSI	MSI	1,425	$618.4k1.4k shares
BUNGE GLOBAL SA BG	BG	4,367	$555.5k4.4k shares
ARCHER DANIELS MIDLAND CO ADM	ADM	7,364	$535.3k7.4k shares
FLUTTER ENTMT PLC FLUT	FLUT	4,986	$508.3k5.0k shares
OVINTIV INC OVV	OVV	8,158	$484.3k8.2k shares
CARNIVAL CORP		17,541	$454.0k17.5k shares
FEDEX CORP FDX	FDX	1,193	$424.9k1.2k shares
PILGRIMS PRIDE CORP PPC	PPC	10,247	$386.9k10.2k shares
GE HEALTHCARE TECHNOLOGIES I GEHC	GEHC	5,170	$368.0k5.2k shares