Boston Partners

Boston Partners ran $95.5B across 1,771 positions in a textbook value book — broadly diversified with no name above 2.2%, led by JPMorgan, US Foods, Cencora, Marathon Petroleum and LPL Financial. The Q1 activity reinforced an energy-and-defensive-value tilt: the firm added Diamondback Energy (+$301M), US Foods (+$288M), ConocoPhillips (+$274M) and Marathon Petroleum, while trimming JPMorgan (-$251M), Huntington Bancshares (-$237M) and American Express. New positions in Cencora, Corpay, Schlumberger, LabCorp and Marvell; exits in AutoZone, Newmont, Medtronic and Textron. Assets were roughly flat at $95.5B.