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Value GiantsValue investors’ 13F holdings, as a whole

Q2 2026 13FData as of Aug 18, 2026

UNP · Industrials

Union Pacific Corp

Q2 2026: held by 6 giants, composite weight 0.15%, consensus rank 154; this quarter 2 bought and 2 sold. Quarter-end price $272.00 (Jun 30, 2026).

Giants holding

6

previous quarter 6

Composite weight

0.15%

consensus rank 154

Quarter-end price

$272.00

Jun 30, 2026

Avg est. costest.

$162.89

vs quarter-end price +67%

I

Held by 6 Giants

Sorted by portfolio weight; click a name for that giant’s holding history.

How to Read This

Est. average cost: shares bought each quarter × (start + end price) ÷ 2, weighted; positions held before Q1 1999 (or the giant’s earliest electronic filing) start from that quarter’s price. 13F does not show actual trade prices.

Giant	Weight	Shares	Value	First bought	Quarters held	Est. avg cost	vs cost	This quarter
Seth Klarman	6.0%	1.19M	$322.4M	Q3 2025	4	$233.27est.	+17%	Trimmed
Dan Loeb	2.1%	350.0K	$95.2M	Q3 2025	4	$250.52est.	+9%	Added
Tweedy, Browne	0.4%	19.2K	$5.2M	Q4 2008	71	$62.06est.	+338%	Held
Tom Gayner	0.3%	161.0K	$43.8M	Q4 2015	43	$155.29est.	+75%	Added
Tom Russo	0.1%	25.8K	$7.0M	Q2 2016	41	$175.58est.	+55%	Trimmed
Edgar Wachenheim	0.0%	2.0K	$553K	Q4 2016	39	$100.60est.	+170%	Held

II

Cost Map: 6 of 6 Giants Have an Estimated Cost Below the Quarter-End Price

One row per giant: the dot is the estimated average cost (bigger = heavier weight); the gold line is the latest quarter-end price.

cost below price (paper gain)cost above price (paper loss)quarter-end price

III

Quarter-End Price (Split-Adjusted)

From Q1 1999, the first quarter a giant held it; hover for holders, buyers and sellers that quarter.

How to Read This

Prices are 13F quarter-end value ÷ shares, roughly the quarter’s closing price, not live prices; prices before splits are converted to today’s share count.

IV

More Giants or Fewer

Giants Holding

Buyers and Sellers (Last 20 Quarters)

BoughtSold

Composite Weight (Hover for Rank)

V

Holding History

Open a giant: when the holding began, which quarters it changed, and how the estimated cost moved. The table lists quarters with trades plus the latest quarter.

How to Read This

In the chart, prices and cost are converted to today’s share count (split-adjusted); the table shows each quarter’s own figures. Est. trade price = (start + end price) ÷ 2, only a rough level.

Seth Klarman 6.0% · since Q3 2025

quarter-end pricerunning est. costest. trade price (buy / sell)

Quarter	Move	Change	Shares held	Weight	Start → end price	Est. trade price	Running est. cost
Q2 2026	Trimmed	−355.6K	1.19M	6.0%	$242.62 → $272.00	$257.31	$233.27
Q1 2026	Trimmed	−86.3K	1.54M	7.3%	$231.32 → $242.62	$236.97	$233.27
Q4 2025	Added	+131.1K	1.63M	7.1%	$236.37 → $231.32	$233.85	$233.27
Q3 2025	New	+1.50M	1.50M	7.4%	$230.08 → $236.37	$233.23	$233.23

Dan Loeb 2.1% · since Q3 2025

quarter-end pricerunning est. costest. trade price (buy / sell)

Quarter	Move	Change	Shares held	Weight	Start → end price	Est. trade price	Running est. cost
Q2 2026	Added	+250.0K	350.0K	2.1%	$242.62 → $272.00	$257.31	$250.52
Q1 2026	Trimmed	−1.71M	100.0K	1.2%	$231.32 → $242.62	$236.97	$233.55
Q4 2025	Added	+935.0K	1.81M	5.8%	$236.37 → $231.32	$233.85	$233.55
Q3 2025	New	+875.0K	875.0K	2.5%	$230.08 → $236.37	$233.23	$233.23

Tweedy, Browne 0.4% · since Q4 2008

quarter-end pricerunning est. costest. trade price (buy / sell)

Quarter	Move	Change	Shares held	Weight	Start → end price	Est. trade price	Running est. cost
Q2 2026	Held	—	19.2K	0.4%	$242.62 → $272.00	—	$62.06
Q1 2026	Trimmed	−865	19.2K	0.4%	$231.32 → $242.62	$236.97	$62.06
Q3 2025	Trimmed	−587	20.1K	0.4%	$230.08 → $236.37	$233.23	$62.06
Q2 2025	Trimmed	−350	20.7K	0.4%	$236.24 → $230.08	$233.16	$62.06
Q1 2025	Trimmed	−897	21.1K	0.4%	$228.04 → $236.24	$232.14	$62.06
Q4 2024	Trimmed	−20.9K	22.0K	0.3%	$246.48 → $228.04	$237.26	$62.06
Q3 2024	Trimmed	−480	42.9K	0.5%	$226.26 → $246.48	$236.37	$62.06
Q2 2024	Trimmed	−1.1K	43.4K	0.5%	$245.93 → $226.26	$236.09	$62.06
Q4 2023	Trimmed	−510	44.5K	0.5%	$203.63 → $245.62	$224.63	$62.06
Q1 2023	Trimmed	−355	45.1K	0.5%	$207.07 → $201.26	$204.16	$62.06
Q4 2022	Trimmed	−113.0K	45.5K	0.5%	$194.82 → $207.07	$200.95	$62.06
Q2 2022	Trimmed	−850	158.7K	1.4%	$273.21 → $213.28	$243.25	$62.06
Q1 2022	Trimmed	−1.3K	159.5K	1.4%	$251.93 → $273.21	$262.57	$62.06
Q4 2021	Trimmed	−995	160.8K	1.3%	$196.01 → $251.93	$223.97	$62.06
Q3 2021	Trimmed	−15.2K	161.8K	1.1%	$219.93 → $196.01	$207.97	$62.06
Q2 2021	Trimmed	−2.6K	177.0K	1.1%	$220.41 → $219.93	$220.17	$62.06
Q1 2021	Trimmed	−1.2K	179.6K	1.2%	$208.22 → $220.41	$214.31	$62.06
Q4 2020	Trimmed	−5.6K	180.8K	1.2%	$196.87 → $208.22	$202.55	$62.06
Q3 2020	Trimmed	−1.2K	186.4K	1.4%	$169.07 → $196.87	$182.97	$62.06
Q2 2020	Trimmed	−2.5K	187.6K	1.3%	$141.04 → $169.07	$155.06	$62.06
Q1 2020	Added	+1.7K	190.1K	1.2%	$180.79 → $141.04	$160.91	$62.06
Q4 2019	Trimmed	−6.1K	188.4K	1.2%	$161.98 → $180.79	$171.38	$61.15
Q1 2019	Trimmed	−68.1K	195.7K	1.1%	$138.23 → $167.20	$152.72	$61.15
Q4 2018	Trimmed	−64.6K	263.8K	1.3%	$162.83 → $138.23	$150.53	$61.15
Q3 2018	Trimmed	−4.7K	328.5K	1.6%	$141.68 → $162.83	$152.26	$61.15
Q2 2018	Trimmed	−3.9K	333.2K	1.5%	$134.43 → $141.68	$138.06	$61.15
Q2 2017	Trimmed	−3.0K	338.9K	1.1%	$105.92 → $108.91	$107.41	$61.15
Q1 2017	Trimmed	−5.0K	342.0K	1.0%	$103.68 → $105.92	$104.80	$61.15
Q4 2016	Trimmed	−3.1K	347.0K	1.1%	$97.53 → $103.68	$100.60	$61.15
Q3 2016	Trimmed	−107.0K	350.1K	1.0%	$87.25 → $97.53	$92.39	$61.15
Q2 2016	Trimmed	−4.3K	457.1K	1.1%	$79.55 → $87.25	$83.40	$61.15
Q1 2015	Trimmed	−2.7K	467.2K	1.4%	$119.13 → $108.31	$113.72	$61.15
Q4 2014	Trimmed	−3.9K	469.9K	1.4%	$108.42 → $119.13	$113.78	$61.15
Q3 2014	Trimmed	−2.8K	473.8K	1.2%	$99.75 → $108.42	$104.09	$61.15
Q2 2014	Unclear	0	476.6K	1.0%	$187.66 → $99.75	$143.71	$61.15
Q1 2014	Trimmed	−155.0K	241.6K	1.0%	$168.00 → $187.66	$177.83	$61.15
Q4 2013	Trimmed	−303.0K	396.6K	1.5%	$155.34 → $168.00	$161.67	$61.15
Q1 2013	Trimmed	−204.5K	704.2K	2.7%	$125.72 → $142.41	$134.06	$61.15
Q4 2012	Added	+81.6K	908.7K	3.5%	$118.70 → $125.72	$122.21	$61.15
Q3 2012	Trimmed	−85.4K	827.0K	3.6%	$119.31 → $118.70	$119.01	$55.12
Q2 2012	Trimmed	−23.6K	912.4K	4.0%	$107.48 → $119.31	$113.39	$55.12
Q1 2012	Trimmed	−58.3K	936.0K	3.6%	$105.94 → $107.48	$106.71	$55.12
Q3 2011	Trimmed	−5.4K	997.2K	3.3%	$104.40 → $81.67	$93.04	$55.12
Q2 2011	Trimmed	−6.2K	1.00M	3.6%	$98.33 → $104.40	$101.37	$55.12
Q4 2010	Trimmed	−11.1K	1.01M	3.5%	$81.80 → $92.66	$87.23	$55.12
Q2 2010	Trimmed	−26.4K	1.02M	3.1%	$73.30 → $69.51	$71.41	$55.12
Q1 2010	Trimmed	−959.0K	1.05M	3.1%	$63.90 → $73.30	$68.60	$55.12
Q4 2009	Added	+564.9K	2.01M	4.9%	$58.35 → $63.90	$61.12	$55.12
Q3 2009	Trimmed	−47.5K	1.44M	4.9%	$52.06 → $58.35	$55.20	$52.77
Q1 2009	Added	+667.6K	1.49M	4.6%	$47.80 → $41.11	$44.46	$52.77
Q4 2008	New	+827.0K	827.0K	2.6%	$71.16 → $47.80	$59.48	$59.48

Tom Gayner 0.3% · since Q4 2015

quarter-end pricerunning est. costest. trade price (buy / sell)

Quarter	Move	Change	Shares held	Weight	Start → end price	Est. trade price	Running est. cost
Q2 2026	Added	+10.8K	161.0K	0.3%	$242.62 → $272.00	$257.31	$155.29
Q1 2026	Added	+9.0K	150.3K	0.3%	$231.32 → $242.62	$236.97	$147.99
Q4 2025	Added	+14.5K	141.3K	0.3%	$236.37 → $231.32	$233.85	$142.32
Q3 2025	Added	+29.5K	126.8K	0.2%	$230.08 → $236.37	$233.23	$131.85
Q2 2025	Added	+11.5K	97.3K	0.2%	$236.24 → $230.08	$233.16	$101.11
Q1 2018	Added	+450	85.0K	0.2%	$134.10 → $134.43	$134.26	$83.41
Q2 2016	Added	+16.1K	84.6K	0.2%	$79.55 → $87.25	$83.40	$83.14
Q1 2016	Added	+3.5K	68.5K	0.1%	$78.20 → $79.55	$78.87	$83.08
Q4 2015	New	+65.0K	65.0K	0.1%	$88.41 → $78.20	$83.31	$83.31

Tom Russo 0.1% · since Q2 2016

quarter-end pricerunning est. costest. trade price (buy / sell)

Quarter	Move	Change	Shares held	Weight	Start → end price	Est. trade price	Running est. cost
Q2 2026	Trimmed	−1.8K	25.8K	0.1%	$242.62 → $272.00	$257.31	$175.58
Q1 2026	Added	+2.7K	27.6K	0.1%	$231.32 → $242.62	$236.97	$175.58
Q4 2025	Added	+141	25.0K	0.1%	$236.37 → $231.32	$233.85	$169.06
Q3 2025	Added	+128	24.8K	0.1%	$230.08 → $236.37	$233.23	$168.69
Q2 2025	Added	+127	24.7K	0.1%	$236.24 → $230.08	$233.16	$168.36
Q3 2024	Added	+126	24.4K	0.1%	$226.26 → $246.48	$236.37	$168.02
Q2 2024	Added	+920	24.3K	0.1%	$245.93 → $226.26	$236.09	$167.67
Q1 2024	Added	+487	23.4K	0.1%	$245.62 → $245.93	$245.78	$164.97
Q4 2023	Added	+1.1K	22.9K	0.1%	$203.63 → $245.62	$224.63	$163.26
Q2 2023	Added	+133	21.7K	0.0%	$201.26 → $204.62	$202.94	$160.09
Q1 2023	Added	+3.0K	21.6K	0.0%	$207.07 → $201.26	$204.16	$159.82
Q4 2022	Added	+105	18.6K	0.0%	$194.82 → $207.07	$200.95	$152.64
Q3 2022	Added	+111	18.5K	0.0%	$213.28 → $194.82	$204.05	$152.36
Q3 2021	Added	+1.1K	18.2K	0.0%	$219.93 → $196.01	$207.97	$152.05
Q2 2020	Added	+15.3K	16.8K	0.0%	$141.04 → $169.07	$155.06	$148.51
Q1 2020	Trimmed	−25	1.5K	0.0%	$180.79 → $141.04	$160.91	$83.40
Q3 2019	Trimmed	−140	1.6K	0.0%	$169.11 → $161.98	$165.54	$83.40
Q2 2019	Trimmed	−110	1.7K	0.0%	$167.20 → $169.11	$168.16	$83.40
Q1 2019	Trimmed	−100	1.8K	0.0%	$138.23 → $167.20	$152.72	$83.40
Q1 2018	Trimmed	−500	1.9K	0.0%	$134.10 → $134.43	$134.26	$83.40
Q4 2016	Trimmed	−100	2.4K	0.0%	$97.53 → $103.68	$100.60	$83.40
Q2 2016	New	+2.5K	2.5K	0.0%	$79.55 → $87.25	$83.40	$83.40

Edgar Wachenheim 0.0% · since Q4 2016

quarter-end pricerunning est. costest. trade price (buy / sell)

Quarter	Move	Change	Shares held	Weight	Start → end price	Est. trade price	Running est. cost
Q2 2026	Held	—	2.0K	0.0%	$242.62 → $272.00	—	$100.60
Q4 2016	New	+2.0K	2.0K	0.0%	$97.53 → $103.68	$100.60	$100.60