What smart money is saying about Home Depot
2 funds in our archive have pitched Home Depot — most recently Third Avenue Real Estate Value Fund in September 2026.
The Home Depot, Inc. operates as a prominent retailer specializing in home renovation and improvement. Through its expansive network of "The Home Depot" stores, it furnishes consumers with an extensive array of goods, including building materials, home enhancement products, lawn and garden supplies, decorative items, and facilities maintenance, repair, and operational (MRO) supplies. In addition to selling products, the company extends professional installation services for key home features like flooring, cabinetry (including makeovers), countertops, furnaces and central air conditioning systems, and window replacements. Customers can also access tool and equipment rental options. Its diverse clientele includes both individual homeowners and a broad spectrum of professional clients, such as renovators, general contractors, maintenance personnel, handymen, property managers, building service contractors, and specialized tradespeople like electricians, plumbers, and painters. The firm also distributes its merchandise through several online platforms, notably homedepot.com, along with specialized sites such as blinds.com for bespoke window coverings and thecompanystore.com for home textiles and decorative goods. By the end of 2021, the corporation operated a total of 2,317 outlets across the United States. Incorporated in 1978, The Home Depot, Inc. maintains its corporate headquarters in Atlanta, Georgia.
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Fund signal · last 12 months
8 lettersToo few moves on Home Depot yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q2 2025 and Q3 2026, 9 fund letters reported a position in Home Depot, with 3 buys (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 1 | 0 | 1 |
| Q2 2026 | 5 | 1 | 0 | 0 |
| Q4 2025 | 1 | 1 | 0 | 1 |
| Q2 2025 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions · 3 moves
- September 2026
“Detractors were concentrated in areas tied to housing, discretionary spending, and benchmark positioning. Home Depot was the most significant individual detractor, falling approximately 17% and underperforming both the Russell 1000 Value Index and the consumer discretionary sector.”
Home Depot - New positionThird Avenue Real Estate Value FundSeptember 2026
“Along these lines, the Fund initiated positions in the common stock of Scentre Group and Home Depot during the quarter.”
Home Depot - June 2026
“We used the proceeds from these sales and scale backs to build positions in Automatic Data Processing, Comcast Corp, Constellation Brands, Home Depot, Medtronic, NextEra Energy (repurchased later in the quarter at lower levels), PepsiCo, Inc, Procter & Gamble Co., and Tyson Foods.”
Home Depot - June 2026
“Non-REIT Real Estate Companies (15.8%) While the Fund emphasizes REITs, we retain flexibility to invest in non-REIT real estate companies, which we typically limit to approximately 25% of net assets. At times these investments may offer more attractive growth, income, valuation, and share price appreciation potential relative to traditional REITs. Current non-REIT holdings include Meritage Homes Corporation , Brookfield Infrastructure Corporation , Marriott Vacations Worldwide Corporation , Fortune Brands Innovations, Inc. , CRH public limited company , Vail Resorts, Inc. , The Home Depot, Inc. , GDS Holdings Limited , and Wyndham Hotels & Resorts, Inc.”
Home Depot - June 2026
Listed in Baron Real Estate Fund’s reported holdings.
Home Depot - June 2026
Listed in Baron Real Estate Strategy’s reported holdings.
Home Depot - June 2026
“Non-REIT Real Estate Companies (15.8%) While the Strategy emphasizes REITs, we retain flexibility to invest in non-REIT real estate companies, which we typically limit to approximately 25% of net assets. At times these investments may offer more attractive growth, income, valuation, and share price appreciation potential relative to traditional REITs. Current non-REIT holdings include Meritage Homes Corporation , Brookfield Infrastructure Corporation , Marriott Vacations Worldwide Corporation , Fortune Brands Innovations, Inc. , CRH public limited company , Vail Resorts, Inc. , The Home Depot, Inc. , GDS Holdings Limited , and Wyndham Hotels & Resorts, Inc.”
Home Depot - New positionParnassus Core Select ETFDecember 2025
“Positioning for uncertainty and leaning into technology adopters While equities finished out 2025 with gains, the quarter and full year were marked by considerable periods of volatility. With continued risk of turbulence in the market, we have been tilting the portfolio toward a more defensive positioning while taking offensive positions in areas where our convictions are highest. Within our offensive positioning, we have taken advantage of market volatility to lean into secular trends through investing in AI beneficiaries including hyperscalers, semiconductors and attractive areas of software, which we view as an “anti-bubble” strategy. The portfolio’s largest absolute sector weight continues to be Information Technology, although we reduced our overweight to the Tech sector given the stocks’ outperformance. We added one new position during the quarter, the home- goods retailer Home Depot in Consumer Discretionary.”
Home Depot - June 2025
Listed in Madison Dividend Income Fund’s reported holdings.
Home Depot
Also mentioned · 2
These funds discuss Home Depot — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedAoris International FundSeptember 2026
“A good example from history is Home Depot.”
Home Depot - MentionedAndbank Azagala Gestión Boutique VII AzagalaJune 2026
“Eso no significa ignorar los riesgos. La estrategia depende de que el flujo de adquisiciones e integraciones continúe a buen ritmo y a múltiplos razonables, en un entorno donde competidores con bolsillos profundos, como Home Depot, ya han frustrado algún objetivo de compra de QXO, el caso de GMS, perdido frente a una oferta superior de Home Depot en 2025.”
Home Depot
Fund coverage · 2 theses
- Third Avenue Real Estate Value FundSeptember 2026
Home Depot combines a dominant home-improvement franchise with resilient demand, substantial real-estate ownership, strong free cash flow, and distribution expansion that could lift cash flows and NAV.
Read the full thesis - Parnassus Core Select ETFDecember 2025
The Home Depot, Inc. has durable competitive advantages and secular demand drivers, with strategic investments expanding its addressable market.
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