Fidelity National Financial, Inc.
Long book
$2.72B
Q1 2026
Positions
20
Top-10 weight
96%
concentration
Last quarter
+10.6%
SPY +14.8%
Turnover
36%
of book per quarter
Strategy in plain words
auto-generated from filingsFidelity National Financial, Inc. is a concentrated fundamental stock-picker, specialised in financials (92% of the long book), running a $2.72B US long book across 20 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: F&G ANNUITIES & LIFE INC, CRESCENT CAPITAL BDC INC, VICI PROPERTIES INC, TEXTRON INC, PEPSICO INC.
Over the last 9 quarters its long book ran on average 7pp per quarter behind the S&P 500, beating the index in 1 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.9%
Q2 2024
+17.4%
Q3 2024
-6.4%
Q4 2024
-11.6%
Q1 2025
-10.4%
Q2 2025
-1.1%
Q3 2025
-1.2%
Q4 2025
-15.5%
Q1 2026
+10.6%
Sector allocation
Financials 90%
Other 4%
Consumer staples 2%
Technology 2%
Industrials 1%
Healthcare 1%
Services media 1%
Consumer discretionary 1%
Long book by quarter
What does Fidelity National own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| FG F&G ANNUITIES & LIFE INC | Financials | 94.7M | $2.40B | 88.3% | Held |
| CCAP CRESCENT CAPITAL BDC INC | — | 4.2M | $51.1M | 1.9% | Held |
| TXT TEXTRON INC | Industrials | 300.0K | $26.3M | 1.0% | Held |
| PEP PEPSICO INC | Consumer staples | 150.0K | $23.3M | 0.9% | Held |
| META META PLATFORMS INC-CLASS A | Technology | 36.5K | $20.9M | 0.8% | New |
| AMGN AMGEN INC | Healthcare | 45.0K | $15.8M | 0.6% | New |
| PSFE PAYSAFE LTD | Services media | 2.3M | $15.3M | 0.6% | Held |
| ORCL ORACLE CORP | Technology | 104.0K | $15.3M | 0.6% | +38.7% |
| PG PROCTER & GAMBLE CO/THE | Other | 105.0K | $15.2M | 0.6% | +200.0% |
| ACI ALBERTSONS COS INC - CLASS A | Consumer discretionary | 880.0K | $15.0M | 0.6% | New |
| HRL HORMEL FOODS CORP | Consumer staples | 660.0K | $14.9M | 0.6% | Held |
| KDP KEURIG DR PEPPER INC | Consumer staples | 548.0K | $14.4M | 0.5% | Held |
| AMCR AMCOR PLC | Other | 355.3K | $14.1M | 0.5% | New |
| TROW T ROWE PRICE GROUP INC | Financials | 148.0K | $13.3M | 0.5% | Held |
| ALITEUR ALIGHT INC - CLASS A | — | 22.3M | $13.0M | 0.5% | Held |
| BX BLACKSTONE INC | Financials | 105.0K | $12.1M | 0.4% | Held |
| DBD DIEBOLD NIXDORF INC | Technology | 102.8K | $7.8M | 0.3% | Held |
| UHG UNITED HOMES GROUP INC | — | 2.8M | $3.2M | 0.1% | Held |
| CNTY CENTURY CASINOS INC | Services media | 187.5K | $261K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 21 | $2.72B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 22 | $3.31B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 15 | $3.82B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 14 | $3.97B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 8, 2025 | 15 | $4.48B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 17 | $4.95B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 8, 2024 | 19 | $5.42B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 21 | $5.91B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 25 | $5.04B | canonical | SEC ↗ |