LYRICAL ASSET MANAGEMENT LP
Long book
$6.56B
Q1 2026
Positions
39
Top-10 weight
52%
concentration
Last quarter
+23.8%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsLYRICAL ASSET MANAGEMENT LP is a concentrated fundamental stock-picker, running a $6.56B US long book across 39 positions.
The portfolio is concentrated: the top 10 names carry 52% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: FLEX LTD, JOHNSON CONTROLS INTERNATION, NRG ENERGY INC, AERCAP HOLDINGS NV, EXPEDIA GROUP INC.
Over the last 9 quarters its long book ran on average 0.2pp per quarter ahead of the S&P 500, beating the index in 4 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
-5.5%
Q2 2024
+12.3%
Q3 2024
-2.6%
Q4 2024
-1.0%
Q1 2025
+14.4%
Q2 2025
+4.3%
Q3 2025
+2.2%
Q4 2025
-5.4%
Q1 2026
+23.8%
Sector allocation
Services media 24%
Technology 23%
Financials 15%
Consumer discretionary 14%
Industrials 12%
Healthcare 6%
Utilities 6%
Long book by quarter
What does LYRICAL ASSET own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| FLEX FLEX LTD | Technology | 7.0M | $455.7M | 7.0% | -7.6% |
| JCI JOHNSON CONTROLS INTERNATION | Industrials | 3.1M | $412.0M | 6.3% | -6.3% |
| NRG NRG ENERGY INC | Utilities | 2.8M | $406.9M | 6.2% | -7.4% |
| AER AERCAP HOLDINGS NV | Services media | 2.6M | $356.9M | 5.4% | -6.5% |
| EXPE EXPEDIA GROUP INC | Industrials | 1.5M | $344.0M | 5.2% | -6.7% |
| EBAY EBAY INC | Services media | 3.5M | $317.9M | 4.8% | -5.1% |
| HCA HCA HEALTHCARE INC | Healthcare | 668.6K | $316.4M | 4.8% | -6.5% |
| AMP AMERIPRISE FINANCIAL INC | Financials | 668.3K | $297.0M | 4.5% | -7.2% |
| FFIV F5 INC | Technology | 947.4K | $274.1M | 4.2% | -4.0% |
| NTAP NETAPP INC | Technology | 2.5M | $258.8M | 3.9% | -2.9% |
| UBER UBER TECHNOLOGIES INC | Services media | 3.3M | $238.5M | 3.6% | -5.8% |
| CI THE CIGNA GROUP | Financials | 750.1K | $200.1M | 3.1% | -2.1% |
| SNX TD SYNNEX CORP | Consumer discretionary | 1.2M | $198.5M | 3.0% | -3.6% |
| NXPI NXP SEMICONDUCTORS NV | Technology | 934.2K | $183.9M | 2.8% | +3126.9% |
| ARW ARROW ELECTRONICS INC | Consumer discretionary | 1.3M | $182.1M | 2.8% | -4.4% |
| CPAY CORPAY INC | Services media | 618.7K | $180.0M | 2.7% | -8.4% |
| FIS FIDELITY NATIONAL INFO SERV | Services media | 3.7M | $171.9M | 2.6% | -3.9% |
| WCC WESCO INTERNATIONAL INC | Consumer discretionary | 607.4K | $166.2M | 2.5% | -6.8% |
| SSNC SS&C TECHNOLOGIES HOLDINGS | Technology | 2.3M | $156.6M | 2.4% | -8.2% |
| GEN GEN DIGITAL INC | Technology | 8.0M | $150.0M | 2.3% | -2.2% |
| AMG AFFILIATED MANAGERS GROUP | Financials | 502.1K | $138.9M | 2.1% | -9.0% |
| AIZ ASSURANT INC | Financials | 612.1K | $133.3M | 2.0% | -8.2% |
| PRI PRIMERICA INC | Financials | 506.0K | $126.8M | 1.9% | -6.5% |
| GPN GLOBAL PAYMENTS INC | Services media | 1.8M | $122.9M | 1.9% | +0.5% |
| WEX WEX INC | Services media | 760.9K | $116.5M | 1.8% | -1.7% |
| LAD LITHIA MOTORS INC | Consumer discretionary | 460.6K | $115.0M | 1.8% | -3.2% |
| HSIC HENRY SCHEIN INC | Consumer discretionary | 1.5M | $113.8M | 1.7% | -7.9% |
| ICLR ICON PLC | Healthcare | 938.2K | $103.8M | 1.6% | -3.1% |
| LKQ LKQ CORP | Consumer discretionary | 3.0M | $89.6M | 1.4% | -4.9% |
| CNC CENTENE CORP | Financials | 2.5M | $82.9M | 1.3% | +3.0% |
| AN AUTONATION INC | Consumer discretionary | 375.8K | $73.4M | 1.1% | New |
| CNXC CONCENTRIX CORP | Services media | 1.2M | $32.7M | 0.5% | +0.3% |
| SUNB SUNBELT RENTALS HOLDINGS INC | Services media | 191.0K | $12.4M | 0.2% | New |
| CCK CROWN HOLDINGS INC | Industrials | 96.8K | $9.7M | 0.1% | +32.4% |
| APTV APTIV PLC | Industrials | 142.4K | $8.4M | 0.1% | +45.3% |
| GRAB GRAB HOLDINGS LTD - CL A | Services media | 1.1M | $3.9M | 0.1% | +40.6% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 11, 2026 | 39 | $6.56B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 37 | $7.65B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 38 | $7.10B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 38 | $6.94B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 38 | $6.58B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 38 | $6.76B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 38 | $6.87B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 36 | $6.23B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 36 | $6.73B | canonical | SEC ↗ |
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