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Livermore
Livermore
ZHEN

Foundation Resource Management Inc

SEC CIK
0001179232
Latest filing
Jul 21, 2026

The latest 13F from Foundation Resource Management Inc covers Q2 2026 (filed Jul 21, 2026): 56 long positions worth $859.7M. The top 10 holdings make up 45.2% of the portfolio, and the largest is ExxonMobil Holdings Corp (XOM) at 6.7%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$70.5M
Added
26
Est. +$14.3M
Reduced
20
Est. −$49.5M
Sold out
2
Est. −$71.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. XOMExxonMobil Holdings Corp
    6.7%$57.5MHistory
  2. TECKTeck Resources Ltd
    6.2%$52.9MHistory
  3. BRK.BBerkshire Hathaway Inc
    5.6%$47.7MHistory
  4. NEMNEWMONT Corp
    5.4%$46.7MHistory
  5. CVXChevron Corp
    4.6%$39.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. XOMExxonMobil Holdings Corp
    +$57.5MNewHistory
  2. BLDRBuilders FirstSource, Inc.
    +$12.7MNewHistory
  3. ADBEAdobe Inc.
    +$11.4MAddedHistory
  4. BMYBristol Myers Squibb Co
    +$337.8KAddedHistory
  5. DGDollar General Corp
    +$336.7KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. XOMExxonMobil Holdings Corp
    +6.69 pp0.0% → 6.7%History
  2. BLDRBuilders FirstSource, Inc.
    +1.48 pp0.0% → 1.5%History
  3. ADBEAdobe Inc.
    +1.05 pp2.1% → 3.2%History
  4. HPQHP Inc
    +0.44 pp2.4% → 2.8%History
  5. MRKMerck & Co., Inc.
    +0.29 pp2.7% → 3.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. XOMExxonMobil Holdings Corp
    −$71.6MSold outHistory
  2. INTCIntel Corp
    −$45.4MReducedHistory
  3. TECKTeck Resources Ltd
    −$1.38MReducedHistory
  4. BRK.BBerkshire Hathaway Inc
    −$791.6KReducedHistory
  5. FHIFederated Hermes, Inc.
    −$379.3KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. XOMExxonMobil Holdings Corp
    −8.06 pp8.1% → 0.0%History
  2. AEMAgnico Eagle Mines Ltd
    −0.85 pp4.0% → 3.2%History
  3. COPConocoPhillips
    −0.80 pp4.3% → 3.5%History
  4. NEMNEWMONT Corp
    −0.67 pp6.1% → 5.4%History
  5. TENTsakos Energy Navigation Ltd
    −0.14 pp1.5% → 1.4%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$859.7M
−$28.8M (−3.2%) vs. prior quarter
Positions
56
+1 vs. prior quarter
Top 10 concentration
45.2%
Top 10 as share of value
Turnover
9.7%
Q2 2026, one quarter
Average holding period
16.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $888.5M (Q1 2026)

Q1 2021: $420.2MQ2 2021: $445.5MQ3 2021: $443.4MQ4 2021: $514.2MQ1 2022: $648.1MQ2 2022: $560.9MQ3 2022: $526.0MQ4 2022: $604.3MQ1 2023: $603.8MQ2 2023: $600.5MQ3 2023: $602.4MQ4 2023: $627.8MQ1 2024: $636.6MQ2 2024: $625.9MQ3 2024: $646.9MQ4 2024: $598.7MQ1 2025: $634.4MQ2 2025: $646.7MQ3 2025: $696.0MQ4 2025: $747.5MQ1 2026: $888.5MQ2 2026: $859.7M
Q1 2021Q2 2026
13F filings of Foundation Resource Management Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 21, 202656$859.7MXOMTECKBRK.Bvs. Q1 2026SEC
Q1 2026Apr 21, 202655$888.5MXOMNEMCVXvs. Q4 2025SEC
Q4 2025Jan 22, 202652$747.5MNEMXOMBRK.Bvs. Q3 2025SEC
Q3 2025Oct 14, 202551$696.0MBRK.BNEMXOMvs. Q2 2025SEC
Q2 2025Jul 14, 202550$646.7MBRK.BXOMNEMvs. Q1 2025SEC
Q1 2025Apr 14, 202550$634.4MBRK.BXOMCVXvs. Q4 2024SEC
Q4 2024Jan 14, 202552$598.7MXOMBRK.BTECKvs. Q3 2024SEC
Q3 2024Oct 10, 202452$646.9MTECKXOMBRK.Bvs. Q2 2024SEC
Q2 2024Jul 10, 202452$625.9MXOMTECKBRK.Bvs. Q1 2024SEC
Q1 2024Apr 11, 202452$636.6MXOMTECKBRK.Bvs. Q4 2023SEC
Q4 2023Jan 10, 202452$627.8MTECKXOMBRK.Bvs. Q3 2023SEC
Q3 2023Oct 10, 202352$602.4MXOMTECKCVXvs. Q2 2023SEC
Q2 2023Jul 12, 202351$600.5MXOMTECKCVXvs. Q1 2023SEC
Q1 2023Apr 11, 202352$603.8MXOMTECKCVXvs. Q4 2022SEC
Q4 2022Jan 12, 202353$604.3MXOMCVXTECKvs. Q3 2022SEC
Q3 2022Oct 13, 202251$526.0MXOMCVXTECKvs. Q2 2022SEC
Q2 2022Jul 15, 202252$560.9MXOMNEMLUMNvs. Q1 2022SEC
Q1 2022Apr 12, 202252$648.1MNEMTECKMOSvs. Q4 2021SEC
Q4 2021Jan 21, 2022Amended51$514.2MNEMBRK.BTECKvs. Q3 2021SEC
Q3 2021Oct 12, 202150$443.4MNEMBRK.BTECKvs. Q2 2021SEC
Q2 2021Jul 13, 202150$445.5MNEMBRK.BLUMNvs. Q1 2021SEC
Q1 2021Apr 8, 202151$420.2MNEMBRK.BLUMN–SEC