Brandywine Global Investment Management, LLC is an SEC-registered investment adviser based in Philadelphia, PA that reports managing 1 hedge fund on Form ADV. It reports $65.4 billion in regulatory assets under management. Its private funds, of all types, hold $3.8 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated +14.0% 2025 YTD through Dec 31 (S&P 500: +16.4%), based on 13F filings. Over a longer period they returned an estimated +20.9% from Q3 2024 to Q4 2025, compared with +25.3% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $65.4 billionForm ADV Item 5.F
- Gross assets of private funds
- $3.8 billionAll private fund types, Form ADV
- Hedge funds managed
- 115 private funds in total
- Employees
- 157Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 110783
- Latest Form ADV
- 09/29/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q4 2025 | +3.4% | +2.4% |
| Q3 2025 | +5.8% | +7.8% |
| Q2 2025 | +3.0% | +10.4% |
| Q1 2025 | +1.2% | -4.5% |
| Q4 2024 | -1.4% | +2.1% |
| Q3 2024 | +7.6% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- J P Morgan Chase & Co.$443.0 million
- Johnson & Johnson Com$403.8 million
- Bank America Corp Com$328.5 million
- Wells Fargo Co New Com$319.0 million
- Citigroup Inc$314.7 million
- At & T, Inc. New$303.8 million
- Exxon Mobil Corp.$241.8 million
- Goldman Sachs$226.4 million
- Alphabet, Inc Voting Class$220.5 million
- CVS Health Corp$216.1 million
As of 2025-12-31, from 13F filing by Brandywine Global Investment Management, LLC.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. HedgeMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures