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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Applied Finance Capital Management, LLC

Quarter ended Q3 2025 · Filed November 6, 2025 · Accession 0001398344-25-020421

Total Value
$1.41B
Positions
280
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (280)

#IssuerTicker / CUSIPSharesValue% of Filing
1APPLE INC.AAPL252,799$64.4M4.57%
2MICROSOFT CORPORATIONMSFT117,025$60.6M4.31%
3ALPHABET INCGOOG230,900$56.1M3.99%
4ORACLE CORPORCL-PD159,791$44.9M3.19%
5META PLATFORMS INCMETA55,048$40.4M2.87%
6KLA CORPKLAC35,921$38.7M2.75%
7APPLIED MATERIALS, INC.038222105176,607$36.2M2.57%
8HP INCHPQ1,217,071$33.1M2.35%
9INTERNATIONAL BUSINESS MACHINEINTR115,305$32.5M2.31%
10NVIDIA CORPORATIONNVDA173,375$32.3M2.30%
11CISCO SYSTEMS INCORPORATEDCSCO463,087$31.7M2.25%
12ADOBE INCADBE82,781$29.2M2.08%
13DR HORTON INC23331A109164,956$28.0M1.99%
14VERIZON COMMUNICATIONSVZ633,368$27.8M1.98%
15ROPER TECHNOLOGIES INCROP52,769$26.3M1.87%
16MASTERCARD, INC.MA45,135$25.7M1.82%
17APTIV PLCAPTV294,697$25.4M1.81%
18JPMORGAN CHASE & CO.VYLD77,891$24.6M1.75%
19LOWE'S COMPANIES INC.54866110796,168$24.2M1.72%
20WALT DISNEY CO254687106210,278$24.1M1.71%
21CUMMINS INCCMI56,349$23.8M1.69%
22BANK OF AMERICA CORPORATION060505104460,978$23.8M1.69%
23UNITED RENTALS INCURI24,649$23.5M1.67%
24TRAVELERS COMPANIES INCTRV84,254$23.5M1.67%
25CBRE GROUP INCORPORATEDCBRE148,273$23.4M1.66%
26METLIFE, INC.MET-PF266,171$21.9M1.56%
27AMERIPRISE FINANCIAL, INC.03076C10644,087$21.7M1.54%
28QUANTA SERVICES INCORPORATED74762E10249,604$20.6M1.46%
29VALERO ENERGY CORPVLO115,183$19.6M1.39%
30DARDEN RESTAURANTS, INC.DRI101,830$19.4M1.38%
31UNION PACIFIC CORPORATIONUNP78,986$18.7M1.33%
32WESTINGHOUSE AIR BRAKE TECHNOL92974010889,443$17.9M1.27%
33CONOCOPHILLIPSCOP178,358$16.9M1.20%
34LKQ CORPORATIONLKQ536,345$16.4M1.16%
35FISERV, INC.FISV122,337$15.8M1.12%
36INCYTE CORPINCY177,389$15.0M1.07%
37MERCK & CO. , INC.MRK178,136$14.9M1.06%
38TARGET CORPORATIONTGT159,887$14.3M1.02%
39THERMO FISHER SCIENTIFIC INC.TMO29,487$14.3M1.02%
40MCKESSON CORPORATIONMCK18,332$14.2M1.01%
41TYSON FOODS, INC.TSN258,290$14.0M1.00%
42CVS HEALTH CORPCVS184,244$13.9M0.99%
43REGENERON PHARMACEUTICALS INCOREGN22,219$12.5M0.89%
44STRYKER CORPORATIONSYK33,079$12.2M0.87%
45CONSTELLATION BRANDS, INC.STZ90,422$12.2M0.87%
46KEURIG DR PEPPER INCKDP470,578$12.0M0.85%
47PUBLIC SERVICE ENTERPRISE GROU744573106143,638$12.0M0.85%
48DTE ENERGY COMPANYDTK83,980$11.9M0.84%
49BROADCOM INCAVGO34,845$11.5M0.82%
50DANAHER CORP23585110256,419$11.2M0.79%
51STEEL DYNAMICS INCSTLD71,793$10.0M0.71%
52SHERWIN-WILLIAMS COSHW28,400$9.8M0.70%
53VISA INCORPORATIONV15,554$5.3M0.38%
54JOHNSON & JOHNSONJNJ27,219$5.0M0.36%
55ABBVIE INCABBV20,655$4.8M0.34%
56EXXON MOBIL CORPXOM33,526$3.8M0.27%
57ETF OPPORTUNITIES TRUST APPLIED FINA VAL26923N40571,628$3.0M0.22%
58UNITEDHEALTH GROUP INCUNH8,200$2.8M0.20%
59APPLOVIN CORPAPP3,833$2.8M0.20%
60ACCENTURE PLCACN9,496$2.3M0.17%
61T-MOBILE US INCTMUSZ9,733$2.3M0.17%
62NORFOLK SOUTHERN CORPORATION6558441087,015$2.1M0.15%
63CATERPILLAR INC.CAT4,298$2.1M0.15%
64LAM RESEARCH CORPORATIONLRCX15,022$2.0M0.14%
65AT&T INCT-PC66,766$1.9M0.13%
66PNC FINANCIAL SERVICES GROUP I6934751059,337$1.9M0.13%
67O'REILLY AUTOMOTIVE, INC.67103H10717,170$1.9M0.13%
68BOOKING HOLDINGS INCBKNG341$1.8M0.13%
69SALESFORCE INCCRM7,704$1.8M0.13%
70AMGEN INCAMGN6,177$1.7M0.12%
71GILEAD SCIENCES, INC.GILD15,040$1.7M0.12%
72QUALCOMM INCORPORATEDQCOM10,030$1.7M0.12%
73PACCAR INCPCAR16,860$1.7M0.12%
74PFIZER INCPFE62,055$1.6M0.11%
75PROGRESSIVE CORP7433151036,123$1.5M0.11%
76DELL TECHNOLOGIES INCDELL10,639$1.5M0.11%
77AUTOZONE, INC.AZO351$1.5M0.11%
78AON PLCAON4,087$1.5M0.10%
79HCA HEALTHCARE INCHCA3,400$1.4M0.10%
80COMCAST CORPCCZ45,857$1.4M0.10%
81MARRIOTT INTERNATIONAL, INC.5719032025,407$1.4M0.10%
82HILTON WORLDWIDE HOLDINGS INCHLT5,227$1.4M0.10%
83MEDTRONIC PLCMDT13,732$1.3M0.09%
84CENCORA INCCOR4,177$1.3M0.09%
85ISHARES RUSSELL 1000 VALUE4642875986,331$1.3M0.09%
86CHUBB LTDCB4,422$1.2M0.09%
87SEMPRASREA12,575$1.1M0.08%
88AUTOMATIC DATA PROCESSING, INCADP3,845$1.1M0.08%
89SOUTHERN COSOMN11,673$1.1M0.08%
90MOODY'S CORPORATIONMCO2,313$1.1M0.08%
91CSX CORPCSX30,809$1.1M0.08%
92RTX CORPRTX6,450$1.1M0.08%
93GENERAL DYNAMICS CORPORATIONGD3,137$1.1M0.08%
94OMEGA HEALTHCARE INVESTORS, IN68193610025,031$1.1M0.08%
95DUKE ENERGY CORPORATIONDUKB8,451$1.0M0.07%
96CRH PLCCRH8,505$1.0M0.07%
97MOLSON COORS BEVERAGE COTAP-A22,504$1.0M0.07%
98UGI CORPORATION90268110530,274$1.0M0.07%
99CHENIERE ENERGY, INC.LNG4,264$1.0M0.07%
100MARATHON PETROLEUM CORPMARA5,198$1.0M0.07%
101STATE STREET CORPSTT-PG8,575$994,7860.07%
102HOME DEPOT INCHD2,447$991,5000.07%
103LYONDELLBASELL INDUSTRIES NVLYB20,190$990,1180.07%
104EATON CORP PLCETN2,631$984,6520.07%
105L3HARRIS TECHNOLOGIES INCLHX3,223$984,3360.07%
106INGREDION INCORPORATIONINGR8,047$982,6190.07%
107NOVARTIS AGNVSEF7,563$969,8790.07%
108CHEVRON CORPCVX6,240$969,2980.07%
109ZOETIS INCZTS6,621$968,7850.07%
110ELEVANCE HEALTH INCELV2,964$957,7280.07%
111MOTOROLA SOLUTIONS INCORPORATIMSI2,088$954,8220.07%
112TRUIST FINANCIAL CORP89832Q10920,706$946,6780.07%
113HUNTINGTON BANCSHARES INCORPORHBANP54,149$935,1530.07%
114SIMON PROPERTY GROUP INC8288061094,971$932,9080.07%
115US BANCORPUSB-PS19,105$923,3450.07%
116ABBOTT LABORATORIESABLZF6,852$917,7570.07%
117HASBRO INCHAS12,086$916,7230.07%
118ALLSTATE CORPALL-PJ4,246$911,4040.06%
119EOG RESOURCES INCEOG8,104$908,6200.06%
120APOLLO GLOBAL MANAGEMENT INC03769M1066,676$889,7110.06%
121CADENCE DESIGN SYSTEMS, INC.CDNS2,530$888,6880.06%
122PRUDENTIAL FINANCIAL, INCORPORPUKPF8,550$886,9770.06%
123MONDELEZ INTERNATIONAL INCORPO60920710514,187$886,2620.06%
124ELI LILLY AND COMPANYLLY1,153$879,7390.06%
125YUM! BRANDS, INC.YUM5,766$876,4320.06%
126UNILEVER PLCUNLYF14,678$870,1120.06%
127PAYPAL HOLDINGS INCPYPL12,909$865,6780.06%
128AFLAC INCAFL7,660$855,6220.06%
129FAIR ISAAC CORP.FICO561$839,5530.06%
130AMETEK INCAME4,378$823,0640.06%
131IDEXX LABORATORIES INCORPORATE45168D1041,251$799,2510.06%
132SLB NVSLB22,528$774,2870.06%
133FORTINET INCORPORATIONFTNT9,063$762,0170.05%
134DELTA AIR LINES INCDAL13,272$753,1860.05%
135OTIS WORLDWIDE CORPOTIS8,234$752,8350.05%
136AGILENT TECHNOLOGIES, INC.A5,778$741,6060.05%
137ARCH CAPITAL GROUP LTD.G0450A1058,028$728,3800.05%
138FEDEX CORPORATIONFDX3,084$727,2380.05%
139AUTODESK, INC.ADSK2,266$719,8400.05%
140SYNOPSYS, INC.SNPS1,456$718,3760.05%
141HARTFORD INSURANCE GROUP INCHIG-PG5,377$717,2380.05%
142CHARTER COMMUNICATIONS INC16119P1082,603$716,0980.05%
143EDWARDS LIFESCIENCES CORPORATIEW9,103$707,9400.05%
144GE HEALTHCARE TECHNOLOGIES INCGEHC9,309$699,1060.05%
145WW GRAINGER INC384802104731$696,6140.05%
146LENNAR CORPORATIONLEN-B5,441$685,7840.05%
147WHIRLPOOL CORPORATIONWHR-PA8,681$682,3270.05%
148CARNIVAL CORPCUKPF23,123$668,4860.05%
149EBAY INCORPORATEDEBAY7,269$661,1160.05%
150HERSHEY COHSY3,534$661,0350.05%
151COGNIZANT TECHNOLOGY SOLUTIONSCTSH9,791$656,6820.05%
152IQVIA HOLDINGS INCIQV3,448$654,9130.05%
153RAYMOND JAMES FINANCIAL, INC.7547301093,763$649,4940.05%
154EQT CORPORATIONEQT11,768$640,5320.05%
155UNITED AIRLINES HOLDINGS INCUNTCW6,602$637,0930.05%
156CBOE GLOBAL MARKETS INC12503M1082,578$632,2550.04%
157VICI PROPERTIES INC92565210919,231$627,1230.04%
158M&T BANK CORPORATION55261F1043,136$619,7360.04%
159COMFORT SYSTEMS USA INC199908104751$619,7100.04%
160NUCOR CORPNUE4,560$617,5610.04%
161EMCOR GROUP INCEME936$607,9690.04%
162SUPER MICRO COMPUTER INCSMCI12,512$599,8250.04%
163FOX CORPFOX9,460$596,5480.04%
164RESTAURANT BRANDS INTERNATIONA76131D1039,261$594,0010.04%
165CENTENE CORPORATIONCNC16,498$588,6490.04%
166FIFTH THIRD BANCORPFITBM13,119$584,4510.04%
167EQUIFAX, INCORPORATEDEFX2,212$567,4440.04%
168ARCHER-DANIELS-MIDLAND COADM9,449$564,4830.04%
169VERISIGN, INCVRSN2,016$563,6130.04%
170GENERAL MILLS, INC.37033410411,079$558,6030.04%
171EXPEDIA GROUP INCEXPE2,595$554,6810.04%
172VERALTO CORPVLTO5,090$542,6630.04%
173SYNCHRONY FINANCIALSYF-PB7,604$540,2640.04%
174PULTEGROUP, INCORPORATION7458671014,035$533,1450.04%
175ZOOM COMMUNICATIONS INCZM6,375$525,9380.04%
176LPL FINANCIAL HOLDINGS INCORPO50212V1001,573$523,3210.04%
177METTLER-TOLEDO INTERNATIONAL IMTD424$520,5070.04%
178ULTA BEAUTY INCULTA933$510,1180.04%
179NETAPP INCNTAP4,172$494,2150.04%
180GODADDY INCGDDY3,584$490,3990.03%
181LEIDOS HOLDINGS INCLDOS2,574$486,3830.03%
182PPG INDUSTRIES, INC.6935061074,555$478,7760.03%
183WILLIAMS-SONOMA, INC.WSM2,429$474,7480.03%
184NVR INC.NVR59$474,0450.03%
185FIRST CITIZENS BANCSHARES INC31946M103264$472,3380.03%
186DOVER CORPORATIONDOV2,782$464,1210.03%
187T ROWE PRICE GROUP INCTROW4,451$456,8510.03%
188DOLLAR GENERAL CORPORATION2566771054,344$448,9520.03%
189FLEX LTDFLEX7,702$446,4850.03%
190CHURCH & DWIGHT CO., INC.CHD5,082$445,3360.03%
191LULULEMON ATHLETICA INCORPORATLULU2,500$444,8250.03%
192LOEWS CORPORATIONL4,404$442,1180.03%
193FIRST SOLAR, INC.FSLR1,995$439,9570.03%
194CIENA CORPCIEN3,003$437,4470.03%
195GARTNER INCORPORATEDIT1,644$432,1580.03%
196CDW CORPCDW2,690$428,4630.03%
197HALLIBURTON COMPANYHAL16,946$416,8720.03%
198GLOBAL PAYMENTS INC.37940X1025,005$415,8150.03%
199TENET HEALTHCARE CORPORATIONTHC2,008$407,7040.03%
200ON SEMICONDUCTOR CORPORATIONON8,194$404,0460.03%
201BIOGEN INCBIIB2,878$403,1500.03%
202ZIMMER BIOMET HOLDINGS INCZBH4,040$397,9400.03%
203TRIMBLE INCTRMB4,866$397,3090.03%
204GENUINE PARTS COMPANYGPC2,783$385,7240.03%
205UNITED THERAPEUTICS CORPORATIOUTHR919$385,2540.03%
206F5 INCFFIV1,190$384,5960.03%
207PRINCIPAL FINANCIAL GROUP, INCPFG4,595$380,9710.03%
208ALLEGION PLCALLE2,146$380,5930.03%
209LENNOX INTERNATIONAL INCORPORA526107107716$379,0220.03%
210WATERS CORP9418481031,238$371,1650.03%
211COREBRIDGE FINANCIAL INC21871X10911,525$369,3760.03%
212SNAP-ON INCORPORATEDSNA1,063$368,3610.03%
213PENTAIR PLCPNR3,313$366,9480.03%
214DICK'S SPORTING GOODS, INC.2533931021,584$351,9960.03%
215FORTIVE CORPFTV6,933$339,6480.02%
216PERFORMANCE FOOD GROUP COPFGC3,184$331,2630.02%
217EQUITABLE HOLDINGS INCEQH-PC6,405$325,2460.02%
218BENTLEY SYSTEMS INCBSY6,225$320,4630.02%
219OMNICOM GROUP INCORPORATEDOMC3,911$318,8640.02%
220HOLOGIC INCHOLX4,697$317,0010.02%
221DOW INCDOW13,683$313,7510.02%
222TEXTRON INC.TXT3,703$312,8660.02%
223BEST BUY CO., INC.BBY4,113$311,0250.02%
224DOMINO' S PIZZA, INC.DPZ718$309,9680.02%
225ZEBRA TECHNOLOGIES CORPORATIONZBRA1,039$308,7490.02%
226MEDPACE HOLDINGS INCMEDP596$306,4390.02%
227DECKERS OUTDOOR CORPORATIONDECK3,020$306,1370.02%
228WP CAREY INC92936U1094,517$305,2140.02%
229CF INDUSTRIES HOLDINGS, INC.1252691003,372$302,4680.02%
230MASCO CORPORATIONMAS4,248$299,0170.02%
231UNUM GROUPUNMA3,665$285,0640.02%
232EAST WEST BANCORP INCORPORATEDEWBC2,670$284,2220.02%
233SHARKNINJA INCSN2,734$282,0120.02%
234BALL CORPORATIONBALL5,579$281,2930.02%
235FACTSET RESEARCH SYSTEMS INC.303075105975$279,3280.02%
236TOLL BROTHERS, INC.TOL1,977$273,1030.02%
237TD SYNNEX CORPSNX1,656$271,1700.02%
238MOLINA HEALTHCARE, INC.MOH1,408$269,4350.02%
239CNA FINANCIAL CORPORATION1261171005,773$268,2140.02%
240UNIVERSAL HEALTH SERVICES, INC9139031001,309$267,6120.02%
241HEALTHPEAK PROPERTIES INCDOC13,893$266,0510.02%
242RENAISSANCERE HOLDINGS LTD.RNR-PG1,041$264,3410.02%
243BUILDERS FIRSTSOURCE, INC.BLDR2,178$264,0830.02%
244BJS WHOLESALE CLUB HOLDINGS IN05550J1012,812$262,2190.02%
245SOLVENTUM CORPSOLV3,511$256,3030.02%
246AMERICAN FINANCIAL GROUP, INC.0259321041,745$254,2810.02%
247GLOBE LIFE INCGL-PD1,777$254,0580.02%
248BOOZ ALLEN HAMILTON HOLDING COBAH2,497$249,5750.02%
249SERVICE CORPORATION INTERNATIO8175651042,974$247,4960.02%
250BXP INCBXP3,305$245,6940.02%
251PAYCOM SOFTWARE INCPAYC1,179$245,3970.02%
252OWENS-CORNINGOC1,680$237,6530.02%
253SKYWORKS SOLUTIONS, INC.SWKS3,073$236,5600.02%
254ASSURANT, INC.AIZN1,088$235,6610.02%
255VIATRIS INCVTRS23,771$235,3330.02%
256EXELIXIS, INC.EXEL5,674$234,3360.02%
257HOST HOTELS & RESORTS INCHST13,647$232,2720.02%
258PENSKE AUTOMOTIVE GROUP INC70959W1031,316$228,8660.02%
259BUNGE GLOBAL SABG2,807$228,0690.02%
260CROWN HOLDINGS, INC.CCK2,338$225,8270.02%
261OLD REPUBLIC INTERNATIONAL COR6802231045,282$224,3270.02%
262MUELLER INDUSTRIES, INC.6247561022,212$223,6550.02%
263MOSAIC COMOS6,422$222,7150.02%
264CACI INTERNATIONAL INC127190304445$221,9570.02%
265TOPBUILD CORPBLD561$219,2720.02%
266ACUITY INCAYI634$218,3430.02%
267ADVANCED DRAINAGE SYSTEMS INC00790R1041,558$216,0950.02%
268DAVITA INCDVA1,616$214,7180.02%
269NORWEGIAN CRUISE LINE HOLDINGSNCLH8,709$214,5030.02%
270OVINTIV INCOVV5,206$210,2180.01%
271KINSALE CAPITAL GROUP INC49714P108492$209,2280.01%
272INTERPUBLIC GROUP OF COMPANIESINTR7,481$208,7950.01%
273CORE & MAIN INCCNM3,860$207,7840.01%
274ALBERTSONS COMPANIES INC01309110311,856$207,5990.01%
275BIOMARIN PHARMACEUTICAL INCBMRN3,826$207,2160.01%
276ELANCO ANIMAL HEALTH INCELAN10,280$207,0390.01%
277WESCO INTERNATIONAL, INC.95082P105975$206,2130.01%
278COCA-COLA CONSOLIDATED INCCOKE1,755$205,6160.01%
279ANTERO MIDSTREAM CORPAM10,445$203,0510.01%
280PILGRIMS PRIDE CORPPPC4,924$200,5050.01%