The London Company
The London Company Large Cap Strategy
US Large-cap
Mar 2025 → Jun 2026
Our archive holds 4 letters from this strategy, behind 9 investment theses and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 2 years — follow all of The London Company for every strategy.
What it bought and sold
Reduced: Alphabet Inc. (GOOG) – We trimmed our largest position on strength and to comply with our stated 10% position limits.
Increased: Republic Services, Inc. (RSG) – Addition reflects an attractive opportunity to increase our exposure in a defensive company with a resilient business model.
Also held
Its investment theses
- Republic Services, Inc.Jun 2026Republic Services offers a defensive, high-quality waste business with pricing power, margin expansion, stable cash flow, and attractive valuation.
- Entegris, Inc.Jun 2026Entegris benefits from AI-driven semiconductor demand, strong competitive positioning, and improving free cash flow as its investment cycle ends.
- Alphabet Inc.Jun 2026Alphabet is using AI to accelerate cloud growth, expand margins, and support long-term earnings compounding.
- Chubb LimitedDec 2025Chubb Limited is delivering record earnings with industry-leading underwriting, raising ROE targets and buybacks, and is viewed as undervalued with accelerating premiums.
- Norfolk Southern CorporationDec 2025Norfolk Southern Corporation trades at a discount amid rail sector pessimism, with improving execution and insider buying supporting expectations for incremental volume recovery.
- Republic Services, Inc.Dec 2025Republic Services, Inc. offers a defensive, essential waste management model with pricing power, margin strength, stable cash flows, and insider buying supporting attractive valuation.
- BlackRock, Inc.Dec 2025BlackRock, Inc. maintains record AUM, strong flows, and robust organic fee growth despite sentiment headwinds, supporting its long-term share gains and steady capital returns.
- Equitable Holdings, Inc.Sep 2025Equitable Holdings, Inc. is a leading U.S. financial services company focused on retirement and wealth management, generating strong cash flow for share repurchases and dividends, while recently enhancing its capital structure and risk profile through a reinsurance transaction.
- Old Dominion Freight Line, Inc.Sep 2025Old Dominion Freight Line, Inc. is well-positioned to outperform in a recovering industrial economy despite current declining volume trends and challenges in the trucking sector.