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Jeremy Grantham Portfolio

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

Grantham, Mayo, Van Otterloo & Co. LLC Holdings · Q1 2026

Disclosed value
$39.1B
Holdings
628
Top sector
Technology
Filed
May 14, 2026
Performance
YTD
+9.0%
+0.0% vs S&P 500
1Y
+22.0%
+3.5% vs S&P 500
3Y
+53.0%
−11.4% vs S&P 500
Jeremy Grantham's latest portfolio (Q1 2026) holds 628 stocks worth $39.1B. Top holdings: Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Johnson & Johnson (JNJ).Biggest last-quarter moves:

Grantham, Mayo, Van Otterloo & Co. LLC Holdings · 628

Q1 2026 · 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
KSemiconductorsKLA Corporation (KLAC) 1.7%
Avg. buy price $521.88 Estimated gain+182.1%Quarter-end price $1,472.41 Last transaction Reduced· Q1 2026Sold 9.3% of shares
K 1.7% $521.88 +182.1% $1,472.41 Reduced· Q1 2026Sold 9.3% of shares
LSemiconductorsLam Research Corporation (LRCX) 3.8%
Avg. buy price $75.74 Estimated gain+171.8%Quarter-end price $205.87 Last transaction Reduced· Q1 2026Sold 26.1% of shares
L 3.8% $75.74 +171.8% $205.87 Reduced· Q1 2026Sold 26.1% of shares
NConsumer ElectronicsNextpower Inc. (NXT) 0.1%
Avg. buy price $45.02 Estimated gain+167.7%Quarter-end price $120.55 Last transaction Reduced· Q1 2026Sold 3.4% of shares
N 0.1% $45.02 +167.7% $120.55 Reduced· Q1 2026Sold 3.4% of shares
GAerospace & DefenseGE Aerospace (GE) 0.2%
Avg. buy price $112.78 Estimated gain+151.6%Quarter-end price $283.77 Last transaction Added· Q1 2026Increased shares by 6.2%
G 0.2% $112.78 +151.6% $283.77 Added· Q1 2026Increased shares by 6.2%
GFinancial - Capital MarketsThe Goldman Sachs Group, Inc. (GS) 0.0%
Avg. buy price $364.18 Estimated gain+132.3%Quarter-end price $845.99 Last transaction Reduced· Q1 2026Sold 56.3% of shares
G 0.0% $364.18 +132.3% $845.99 Reduced· Q1 2026Sold 56.3% of shares
SSteelSteel Dynamics, Inc. (STLD) 0.0%
Avg. buy price $82.34 Estimated gain+118.6%Quarter-end price $180.00 Last transaction Reduced· Q1 2026Sold 30.0% of shares
S 0.0% $82.34 +118.6% $180.00 Reduced· Q1 2026Sold 30.0% of shares
ETravel ServicesExpedia Group, Inc. (EXPE) 0.0%
Avg. buy price $106.73 Estimated gain+116.6%Quarter-end price $231.21 Last transaction Reduced· Q1 2026Sold 41.1% of shares
E 0.0% $106.73 +116.6% $231.21 Reduced· Q1 2026Sold 41.1% of shares
GInternet Content & InformationAlphabet Inc. (GOOGL) 5.1%
Avg. buy price $132.29 Estimated gain+112.7%Quarter-end price $281.41 Last transaction Added· Q1 2026Increased shares by 3.4%
G 5.1% $132.29 +112.7% $281.41 Added· Q1 2026Increased shares by 3.4%
AAluminumAlcoa Corporation (AA) 0.0%
Avg. buy price $31.22 Estimated gain+112.5%Quarter-end price $66.33 Last transaction Reduced· Q1 2026Sold 1.3% of shares
A 0.0% $31.22 +112.5% $66.33 Reduced· Q1 2026Sold 1.3% of shares
EElectrical Equipment & PartsEnerSys (ENS) 0.0%
Avg. buy price $82.11 Estimated gain+111.6%Quarter-end price $173.72 Last transaction Reduced· Q1 2026Sold 14.3% of shares
E 0.0% $82.11 +111.6% $173.72 Reduced· Q1 2026Sold 14.3% of shares
RManufacturing - Tools & AccessoriesRBC Bearings Incorporated (RBC) 0.0%
Avg. buy price $258.99 Estimated gain+109.7%Quarter-end price $543.12 Last transaction Reduced· Q1 2026Sold 63.0% of shares
R 0.0% $258.99 +109.7% $543.12 Reduced· Q1 2026Sold 63.0% of shares
KGoldKinross Gold Corporation (KGC) 0.0%
Avg. buy price $14.66 Estimated gain+108.3%Quarter-end price $30.54 Last transaction Reduced· Q1 2026Sold 85.4% of shares
K 0.0% $14.66 +108.3% $30.54 Reduced· Q1 2026Sold 85.4% of shares
TApparel - RetailThe TJX Companies, Inc. (TJX) 1.5%
Avg. buy price $78.97 Estimated gain+102.2%Quarter-end price $159.70 Last transaction Reduced· Q1 2026Sold 2.3% of shares
T 1.5% $78.97 +102.2% $159.70 Reduced· Q1 2026Sold 2.3% of shares
CBanks - DiversifiedCitigroup Inc. (C) 0.2%
Avg. buy price $56.16 Estimated gain+102.0%Quarter-end price $113.42 Last transaction Reduced· Q1 2026Sold 4.0% of shares
C 0.2% $56.16 +102.0% $113.42 Reduced· Q1 2026Sold 4.0% of shares
JBanks - DiversifiedJPMorgan Chase & Co. (JPM) 0.1%
Avg. buy price $146.56 Estimated gain+100.7%Quarter-end price $294.16 Last transaction Reduced· Q1 2026Sold 5.2% of shares
J 0.1% $146.56 +100.7% $294.16 Reduced· Q1 2026Sold 5.2% of shares
Data through Q1 2026 · filed May 14, 2026
15 of 231
Show all 231 holdings

Biggest position changes

In Q1 2026: 84 new, 295 added, 215 reduced, 104 exited.
Q1 2026Q4 2025Q3 2025Q2 2025
Largest disclosed changes in Q1 2026, ranked by estimated dollar change using the quarter's average market price.
Reduced or exitedBought or added
L Lam Research Corporation (LRCX) −$546M W Wells Fargo & Company (WFC) −$453M P Permian Resources Corporation (PR) −$229M E Elevance Health Inc. (ELV) −$195M N NVIDIA Corporation (NVDA) −$97M K KLA Corporation (KLAC) −$70M D Darling Ingredients Inc. (DAR) −$50M B British American Tobacco p.l.c. (BTI) −$45M M Mastercard Incorporated (MA) +$499M S Synopsys, Inc. (SNPS) New+$411M M Microsoft Corporation (MSFT) +$380M N Netflix, Inc. (NFLX) +$353M C Cigna Corporation (CI) +$177M U UnitedHealth Group Incorporated (UNH) +$145M V Visa Inc. (V) +$124M U Uber Technologies, Inc. (UBER) +$119M
Other share changes without a dollar estimate, ranked by size.
Reduced or exitedBought or added
W Weibo Corporation (WB) Exited−637K C Comerica Incorporated (CMA) Exited−424K R REV Group, Inc. (REVG) Exited−417K F Fox Corporation (FOX) −390K F Frontier Communications Parent, Inc. (FYBR) Exited−386K R Dr. Reddy's Laboratories Limited (RDY) −316K S SolarEdge Technologies, Inc. (SEDG) −306K V Vodafone Group Public Limited Company (VOD) −281K R Sunrun Inc. (RUN) +2.4M S Stellantis N.V. (STLA) +1.5M
Baytex Energy Corp New+1.3M
B Banco Bradesco S.A. (BBD) +1.2M G Gerdau S.A. (GGB) +989K S Select Medical Holdings Corporation (SEM) New+987K F Amicus Therapeutics, Inc. (FOLD) New+941K C CEMEX, S.A.B. de C.V. (CX) +763K

New this quarter

S Synopsys, Inc. (SNPS) New· Q1 2026 R Roper Technologies, Inc. (ROP) New· Q1 2026 W Essential Utilities, Inc. (WTRG) New· Q1 2026 O Onto Innovation Inc. (ONTO) New· Q1 2026 A The AES Corporation (AES) New· Q1 2026 C Coterra Energy Inc. (CTRA) New· Q1 2026 S SM Energy Company (SM) New· Q1 2026 O OneStream, Inc. Class A Common Stock (OS) New· Q1 2026

Portfolio composition

Largest holdings in Q1 2026, sized by their share of the disclosed portfolio. This shows what is owned, not what changed.

Alphabet Inc. (GOOGL): 5.1%Lam Research Corporation (LRCX): 3.8%KLA Corporation (KLAC): 1.7%The TJX Companies, Inc. (TJX): 1.5%GE Aerospace (GE): 0.2%Other holdings: 87.7%
G Alphabet Inc. (GOOGL) 5.1%
L Lam Research Corporation (LRCX) 3.8%
K KLA Corporation (KLAC) 1.7%
T The TJX Companies, Inc. (TJX) 1.5%
G GE Aerospace (GE) 0.2%
Other holdings 87.7%
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 Q1 2026 filing, Jeremy Grantham's largest disclosed holdings are Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Johnson & Johnson (JNJ). The table shows 15 of 628 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 Q1 2026 were Mastercard Incorporated (MA), Synopsys, Inc. (SNPS), Microsoft Corporation (MSFT), 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 Q1 2026 were Lam Research Corporation (LRCX), Wells Fargo & Company (WFC), Permian Resources Corporation (PR). The filing comparison contains 104 full exits, summarized in the activity view above.

How big is Jeremy Grantham's portfolio?

The latest 13F discloses $39.1B across 628 positions in Q1 2026. 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 Q1 2026, 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 Q1 2026 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.