Grantham, Mayo, Van Otterloo (GMO) 13F, Q2 2025
Jeremy Grantham · quarter ending 30 June 2025 · filed 13 August 2025 · SEC CIK 1352662
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 4 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q2 2025
The 25 largest of 604 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| MICROSOFT CORP | MSFT | $2.42B | 7.3% | unchanged |
| META PLATFORMS INC | META | $1.64B | 5.0% | +8% shares |
| ALPHABET INC | GOOGL | $1.38B | 4.2% | unchanged |
| ORACLE CORP | ORCL | $1.25B | 3.8% | -6% shares |
| APPLE INC | AAPL | $1.23B | 3.7% | -11% shares |
| ABBOTT LABS | ABT | $1.06B | 3.2% | -4% shares |
| JOHNSON & JOHNSON | JNJ | $1.00B | 3.0% | -4% shares |
| TEXAS INSTRS INC | TXN | $958.23M | 2.9% | unchanged |
| LAM RESEARCH CORP | LRCX | $942.02M | 2.9% | +13% shares |
| VISA INC | V | $861.38M | 2.6% | -18% shares |
| BROADCOM INC | AVGO | $844.37M | 2.5% | +76% shares |
| SALESFORCE INC | CRM | $806.47M | 2.4% | +11% shares |
| ELEVANCE HEALTH INC | ELV | $793.52M | 2.4% | -6% shares |
| ACCENTURE PLC IRELAND | $791.63M | 2.4% | +9% shares | |
| AMAZON COM INC | AMZN | $791.08M | 2.4% | +5% shares |
| THERMO FISHER SCIENTIFIC INC | TMO | $750.63M | 2.3% | +27% shares |
| US BANCORP DEL | USB | $749.77M | 2.3% | +4% shares |
| WELLS FARGO CO NEW | WFC | $678.60M | 2.0% | unchanged |
| UNITEDHEALTH GROUP INC | UNH | $668.07M | 2.0% | -4% shares |
| CONSTELLATION BRANDS INC | STZ | $597.99M | 1.8% | +40% shares |
| INTUITIVE SURGICAL INC | ISRG | $591.93M | 1.8% | unchanged |
| HILTON WORLDWIDE HLDGS INC | HLT | $531.63M | 1.6% | unchanged |
| MERCK & CO INC | MRK | $512.13M | 1.6% | -3% shares |
| THE CIGNA GROUP | CI | $510.41M | 1.5% | -3% shares |
| UBER TECHNOLOGIES INC | UBER | $506.42M | 1.5% | +21% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Grantham, Mayo, Van Otterloo (GMO) opened 87 new positions, added to 172, trimmed 262, left 83 unchanged and exited 98. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- TW$217.20M
- MASI*$40.47M
- BAH$37.33M
- JKHY$33.85M
- TXNM$27.15M
- BF/B$25.10M
- BMI$22.53M
- PACIFIC PREMIER BANCORP$21.82M
and 79 more
Exited
- SAIAwas $41.18M
- DISCOVER FINL SVCSwas $39.52M
- ONTOwas $34.53M
- CHAMPIONX CORPORATIONwas $26.91M
- VEREN INCwas $25.86M
- INTRA-CELLULAR THERAPIES INCwas $22.82M
- PATTERSON COS INCwas $22.04M
- PAYCOR HCM INCwas $20.56M
and 90 more
Other quarters
Source: SEC Form 13F-HR, accession 0001072613-25-000542, filed by Grantham, Mayo, Van Otterloo & Co. LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.