Advisors Management Group Inc.

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 16, 2025), Advisors Management Group Inc. reported 150 stock positions worth $531.2 million. Its top holding was Janus Henderson Aaa Clo ETF (JAAA) at 16.5% of the portfolio, followed by Nvidia (NVDA, 3.7%) and JPMorgan Equity Premium Inco (JEPI, 3.2%). Compared with Q1 2025, it opened 3 new positions, sold out of 3, added to 44 and reduced 84. The biggest buy was Janus Henderson Aaa Clo ETF (JAAA, shares +31%) and the biggest sale Lloyds Banking Group PLC-ADR (LYG, shares −98%).

Most Recent 13F: Q2 2026
Location: LA CROSSE, WI
CIK: 0000842766
Portfolio Value: $531.2M (Q2 2025)
SEC Filing: 0000842766-25-000005 ↗ filed Jul 16, 2025

Holdings Value

Holdings 150 stocks · $531.2M


JAAA Janus Henderson Aaa Clo ETF	16.49%	1,725,467	$87.6M	Add +31.1%
NVDA Nvidia Corp.	3.71%	124,869	$19.7M	Add +18.1%
JEPI JPMorgan Equity Premium Inco	3.18%	296,745	$16.9M	Add +11.4%
ETR Entergy Corp.	2.84%	181,675	$15.1M	Reduce -0.7%
SGOL Abrdn Physical Gold Shares	2.82%	474,842	$15.0M	Reduce -1.1%
MLPA Global X MLP ETF	2.37%	250,841	$12.6M	Add +0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	2.21%	39,765	$11.7M	Reduce -0.6%
AMZN Amazon.com Inc.	1.90%	45,962	$10.1M	Add +16.8%
FE Firstenergy Corp.	1.86%	245,734	$9.9M	Reduce -0.7%
AAPL Apple Inc.	1.80%	46,532	$9.5M	Reduce -1.0%
TTE Totalenergies SE -Spon ADR	1.73%	149,343	$9.2M	Reduce -0.0%
SO The Southern Co.	1.70%	98,332	$9.0M	Reduce -1.0%
GOOGL Alphabet Inc. Class A	1.70%	51,227	$9.0M	Add +17.8%
MSFT Microsoft Corp.	1.69%	18,019	$9.0M	Reduce -0.6%
CSCO Cisco Systems Inc.	1.66%	126,769	$8.8M	Reduce -0.8%
O Realty Income Corp.	1.65%	151,681	$8.7M	Add +29.5%
ENB Enbridge Inc.	1.59%	186,369	$8.4M	Reduce -0.8%
WELL Welltower Inc.	1.54%	53,306	$8.2M	Reduce -1.2%
VZ Verizon Communications Inc.	1.42%	174,874	$7.6M	Reduce -0.9%
POWL Powell Industries Inc.	1.37%	34,572	$7.3M	Add +0.9%
EMR Emerson Electric Co.	1.32%	52,772	$7.0M	Reduce -0.5%
JPM JPMorgan Chase & Co.	1.21%	22,113	$6.4M	Reduce -1.7%
CVX Chevron Corp.	1.17%	43,343	$6.2M	Add +100.3%
HON Honeywell International Inc.	1.11%	25,325	$5.9M	Reduce -1.0%
OKE Oneok Inc.	1.11%	72,127	$5.9M	Add +732.8%
ADBE Adobe Inc.	1.10%	15,124	$5.9M	Add +29.5%
AMD Advanced Micro Devices	1.09%	40,725	$5.8M	Reduce -0.3%
LAMR Lamar Advertising Co. Class A	1.04%	45,497	$5.5M	Reduce -0.6%
MU Micron Technology Inc.	1.03%	44,601	$5.5M	Reduce -0.5%
INTC Intel Corp.	1.01%	239,835	$5.4M	Reduce -0.6%
MRK Merck & Co. Inc.	1.00%	66,940	$5.3M	Add +198.6%
AVGO Broadcom Inc.	0.95%	18,323	$5.1M	Add +58.6%
VVR Invesco Senior Income Trust	0.91%	1,270,595	$4.8M	Reduce -0.2%
PFE Pfizer Inc.	0.87%	189,673	$4.6M	Reduce -0.7%
MDT Medtronic PLC	0.85%	51,845	$4.5M	Reduce -2.6%
GE General Electric filed as GE AEROSPACE	0.84%	17,372	$4.5M	Reduce -1.6%
AEP American Electric Power	0.84%	42,784	$4.4M	Reduce -1.2%
JNJ Johnson & Johnson	0.83%	28,825	$4.4M	Reduce -1.0%
PG The Procter & Gamble Co.	0.82%	27,458	$4.4M	Reduce -0.8%
WM Waste Management Inc.	0.81%	18,728	$4.3M	Reduce -0.8%
QQQ Invesco QQQ Trust Series 1	0.80%	7,691	$4.2M	Add +2.1%
MLI Mueller Industries Inc.	0.76%	51,024	$4.1M	Add +51.0%
VTR Ventas Inc.	0.75%	63,085	$4.0M	Reduce -0.1%
DELL Dell Technologies -C	0.72%	31,063	$3.8M	Reduce -0.6%
GILD Gilead Sciences Inc.	0.70%	33,466	$3.7M	Reduce -0.6%
PANW Palo Alto Networks Inc.	0.69%	18,000	$3.7M	Add +65.3%
QCOM Qualcomm Inc.	0.68%	22,823	$3.6M	Reduce -0.8%
SCHX Schwab US Large-Cap ETF	0.68%	147,570	$3.6M	Add +1.0%
GSK GSK PLC-Spon ADR	0.65%	90,041	$3.5M	Reduce -1.3%
JCI Johnson Controls Internation	0.62%	31,030	$3.3M	Reduce -1.7%
DUK Duke Energy Corp.	0.61%	27,495	$3.2M	Reduce -1.3%
VTI VG Morningstar TS MKT ETF-US	0.58%	10,061	$3.1M	Reduce -1.8%
SCHD Schwab US DVD Equity ETF	0.57%	113,960	$3.0M	Reduce -0.4%
XOM Exxon Mobil Corp.	0.54%	26,752	$2.9M	Add +0.5%
D Dominion Energy Inc.	0.53%	50,268	$2.8M	Reduce -1.2%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX	0.53%	50,656	$2.8M	Reduce -1.0%
SHEL Shell PLC-ADR	0.51%	38,231	$2.7M	Reduce -1.2%
C Citigroup Inc.	0.48%	30,239	$2.6M	Reduce -0.6%
KO The Coca-Cola Co.	0.46%	34,366	$2.4M	Reduce -0.9%
DE Deere & Co.	0.44%	4,576	$2.3M	Add +20.8%
IDU iShares US Utilities ETF	0.43%	21,805	$2.3M	Reduce -0.0%
MMM 3M Co.	0.42%	14,596	$2.2M	Reduce -1.9%
GEV GE Vernova Inc.	0.42%	4,183	$2.2M	Reduce -0.7%
OKTA Okta Inc.	0.40%	21,507	$2.1M	Add +73.2%
CAT Caterpillar Inc.	0.40%	5,449	$2.1M	Reduce -0.2%
MRVL Marvell Technology Inc.	0.40%	27,116	$2.1M	Add +8.4%
ADM Archer-Daniels-Midland Co.	0.39%	38,922	$2.1M	Reduce -0.3%
NVS Novartis AG-Sponsored ADR	0.38%	16,513	$2.0M	Reduce -1.3%
XLE SS Energy Select Sector	0.37%	23,000	$2.0M	Add +5.5%
IWM iShares Russell 2000 ETF	0.36%	8,779	$1.9M	Add +0.2%
AMAT Applied Materials Inc.	0.35%	10,095	$1.8M	Add +2.7%
SMH Vaneck Semiconductor ETF	0.34%	6,465	$1.8M	Add +2.0%
BRK.B Berkshire Hathaway Inc. Class B	0.32%	3,532	$1.7M	Reduce -0.1%
XLV SS Health Care Select Sector	0.31%	12,226	$1.6M	Reduce -0.3%
DOC Healthpeak Properties Inc.	0.31%	92,855	$1.6M	Reduce -0.2%
SMIN iShares MSCI India Small-Cap	0.30%	20,434	$1.6M	Add +1.7%
XLF SS Financial Select Sector	0.25%	25,028	$1.3M	Reduce -1.8%
DLR Digital Realty Trust Inc.	0.23%	7,090	$1.2M	Reduce -0.6%
KMI Kinder Morgan Inc.	0.23%	40,913	$1.2M	Reduce -0.5%
SPDW Ste STR SPDR PT DW Eu ETF	0.22%	29,116	$1.2M	Add +2.3%
NGG National Grid PLC-SP ADR	0.21%	14,800	$1.1M	Reduce -0.8%
CHD Church & Dwight Co. Inc.	0.20%	11,206	$1.1M	No change
BUG Global X Cybersecurity ETF	0.20%	28,522	$1.1M	Reduce -0.1%
IXUS iShares Core Intl Stock ETF	0.19%	13,169	$1.0M	Reduce -1.3%
RSP Invesco S&P 500 Equal Weight	0.18%	5,383	$978K	Add +21.6%
VOX Vanguard Communication Servi	0.17%	5,408	$925K	Add +4.7%
EMN Eastman Chemical Co.	0.17%	12,146	$907K	Add +3.5%
WMT Walmart Inc.	0.16%	8,930	$873K	Reduce -2.6%
J Jacobs Solutions Inc.	0.16%	6,547	$861K	Reduce -3.6%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE	0.16%	1,905	$839K	Reduce -0.2%
XEL Xcel Energy Inc.	0.14%	11,087	$755K	Add +0.2%
FAST Fastenal Co.	0.14%	17,142	$720K	Add +0.1%
EOG EOG Resources Inc.	0.13%	5,929	$709K	Add +30.7%
WFC Wells Fargo & Co.	0.13%	8,438	$676K	Reduce -3.6%
NUE Nucor Corp.	0.12%	5,053	$655K	Reduce -0.7%
UPS United Parcel Service Class B	0.12%	6,287	$635K	Add +31.2%
UNP Union Pacific Corp.	0.12%	2,699	$621K	Add +0.5%
TSLA Tesla Inc.	0.11%	1,906	$605K	Add +8.8%
TT Trane Technologies PLC	0.11%	1,284	$562K	No change
V Visa Inc. Class A	0.10%	1,424	$506K	Reduce -0.1%
GOOG Alphabet Inc. Class C	0.09%	2,720	$482K	Reduce -0.1%
T AT&T Inc.	0.09%	16,270	$471K	Reduce -4.1%
WEC WEC Energy Group Inc.	0.09%	4,510	$470K	Add +0.4%
STT State Street Corp.	0.09%	4,378	$466K	No change
FINX Global X Fintech ETF	0.08%	13,087	$448K	Reduce -1.8%
NFLX Netflix Inc.	0.08%	323	$433K	No change
KMB Kimberly-Clark Corp.	0.08%	3,262	$421K	Reduce -0.4%
EPD Enterprise Products Partners	0.08%	13,332	$413K	Reduce -0.4%
GEHC GE Healthcare Technology	0.08%	5,564	$412K	Reduce -0.8%
AXP American Express Co.	0.08%	1,269	$405K	Reduce -2.0%
SPY SS SPDR S&P 500 ETF Trust-US	0.08%	648	$400K	Reduce -0.8%
USB US Bancorp	0.07%	8,763	$397K	No change
PFF iShares Preferred & Income S	0.07%	12,775	$392K	Reduce -4.8%
IYH iShares U.S. Healthcare ETF	0.07%	6,705	$379K	No change
PAVE Global X US Infrastructure	0.06%	7,740	$337K	Reduce -0.2%
VHT Vanguard Health Care ETF	0.06%	1,355	$336K	Add +0.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	0.06%	3,259	$334K	Reduce -1.5%
IJJ iShares S&P Mid-Cap 400 Valu	0.06%	2,670	$330K	No change
AZN Astrazeneca PLC-Spons ADR	0.06%	4,696	$328K	No change
TRV The Travelers Cos Inc.	0.06%	1,215	$325K	Reduce -0.3%
BMY Bristol-Myers Squibb Co.	0.06%	7,010	$324K	Add +0.4%
UNH Unitedhealth Group Inc.	0.06%	1,018	$318K	New
IYW iShares Ustechnology ETF	0.06%	1,823	$316K	No change
NTRS Northern Trust Corp.	0.06%	2,440	$309K	No change
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.06%	2,459	$305K	Reduce -0.3%
META Meta Platforms Inc. Class A	0.06%	402	$297K	Reduce -1.9%
PFFD Global X US Preferred ETF	0.06%	15,500	$292K	Reduce -7.8%
AMT American Tower Corp.	0.05%	1,317	$291K	Add +0.1%
IYC iShares US Consumer Discreti	0.05%	2,912	$290K	Add +4.3%
ARKK ARK Innovation ETF	0.05%	3,908	$275K	New
BP BP PLC-Spons ADR	0.05%	9,117	$273K	Reduce -0.6%
GNRC Generac Holdings Inc.	0.05%	1,868	$268K	No change
HSY The Hershey Co.	0.05%	1,600	$266K	No change
IVV iShares Core S&P 500 ETF	0.05%	418	$260K	Add +3.0%
DFUS Dimensional US Eq MKT ETF	0.05%	3,828	$257K	No change
SWK Stanley Black & Decker Inc.	0.05%	3,664	$248K	Reduce -0.2%
IJK iShares S&P Mid-Cap 400 Grow	0.05%	2,672	$243K	No change
MCD McDonald's Corp.	0.05%	824	$241K	Reduce -8.0%
AMGN Amgen Inc.	0.04%	775	$216K	Reduce -0.6%
SYY Sysco Corp.	0.04%	2,836	$215K	Add +0.1%
NSC Norfolk Southern Corp.	0.04%	837	$214K	New
SOFI Sofi Technologies Inc.	0.04%	11,341	$207K	Add +1.6%
CAG Conagra Brands Inc.	0.04%	9,814	$201K	Reduce -0.7%
JBHT Hunt (jb) Transprt SVCS Inc.	0.04%	1,400	$201K	No change
PGX Invesco Preferred ETF	0.03%	14,404	$160K	Reduce -9.5%
LYG Lloyds Banking Group PLC-ADR	0.02%	20,148	$86K	Reduce -97.5%
WRN Western Copper and Gold Corp.	0.01%	42,282	$53K	No change
NWBO Northwest Biotherapeutics	0.00%	10,270	$2K	No change
ADGO Advantego Corp.	0.00%	330,000	$0	No change
PTLKF Lippo Karawaci TBK PT filed as PT Lippo Karawaci Tbk	0.00%	37,000	$0	No change

Portfolio Sells Q1 2025 → Q2 2025


LYG Lloyds Banking Group PLC-ADR	Reduce -97.5%	0.02%	−0.66
ETR Entergy Corp.	Reduce -0.7%	2.84%	−0.56
AAPL Apple Inc.	Reduce -1.0%	1.80%	−0.47
TTE Totalenergies SE -Spon ADR	Reduce -0.0%	1.73%	−0.38
VZ Verizon Communications Inc.	Reduce -0.9%	1.42%	−0.32
FE Firstenergy Corp.	Reduce -0.7%	1.86%	−0.31
SGOL Abrdn Physical Gold Shares	Reduce -1.1%	2.82%	−0.30
SO The Southern Co.	Reduce -1.0%	1.70%	−0.29
WELL Welltower Inc.	Reduce -1.2%	1.54%	−0.26
JNJ Johnson & Johnson	Reduce -1.0%	0.83%	−0.22
ENB Enbridge Inc.	Reduce -0.8%	1.59%	−0.22
PG The Procter & Gamble Co.	Reduce -0.8%	0.82%	−0.20
VTR Ventas Inc.	Reduce -0.1%	0.75%	−0.19
AEP American Electric Power	Reduce -1.2%	0.84%	−0.19
MDT Medtronic PLC	Reduce -2.6%	0.85%	−0.19
PFE Pfizer Inc.	Reduce -0.7%	0.87%	−0.19
INTC Intel Corp.	Reduce -0.6%	1.01%	−0.18
WM Waste Management Inc.	Reduce -0.8%	0.81%	−0.14
VVR Invesco Senior Income Trust	Reduce -0.2%	0.91%	−0.13
DUK Duke Energy Corp.	Reduce -1.3%	0.61%	−0.13
SCHD Schwab US DVD Equity ETF	Reduce -0.4%	0.57%	−0.13
GILD Gilead Sciences Inc.	Reduce -0.6%	0.70%	−0.12
GSK GSK PLC-Spon ADR	Reduce -1.3%	0.65%	−0.12
SHEL Shell PLC-ADR	Reduce -1.2%	0.51%	−0.11
DOC Healthpeak Properties Inc.	Reduce -0.2%	0.31%	−0.10
LAMR Lamar Advertising Co. Class A	Reduce -0.6%	1.04%	−0.09
BRK.B Berkshire Hathaway Inc. Class B	Reduce -0.1%	0.32%	−0.09
D Dominion Energy Inc.	Reduce -1.2%	0.53%	−0.09
QCOM Qualcomm Inc.	Reduce -0.8%	0.68%	−0.08
KO The Coca-Cola Co.	Reduce -0.9%	0.46%	−0.08
XLV SS Health Care Select Sector	Reduce -0.3%	0.31%	−0.08
CCI Crown Castle Inc.	Sold out	0.00%	−0.07
HON Honeywell International Inc.	Reduce -1.0%	1.11%	−0.07
CSCO Cisco Systems Inc.	Reduce -0.8%	1.66%	−0.06
MMM 3M Co.	Reduce -1.9%	0.42%	−0.06
IDU iShares US Utilities ETF	Reduce -0.0%	0.43%	−0.05
ABBV Abbvie Inc.	Sold out	0.00%	−0.05
VTI VG Morningstar TS MKT ETF-US	Reduce -1.8%	0.58%	−0.04
NVS Novartis AG-Sponsored ADR	Reduce -1.3%	0.38%	−0.03
XLF SS Financial Select Sector	Reduce -1.8%	0.25%	−0.03
KMI Kinder Morgan Inc.	Reduce -0.5%	0.23%	−0.03
KMB Kimberly-Clark Corp.	Reduce -0.4%	0.08%	−0.02
EPD Enterprise Products Partners	Reduce -0.4%	0.08%	−0.02
GEHC GE Healthcare Technology	Reduce -0.8%	0.08%	−0.02
ADM Archer-Daniels-Midland Co.	Reduce -0.3%	0.39%	−0.02
CAG Conagra Brands Inc.	Reduce -0.7%	0.04%	−0.02
J Jacobs Solutions Inc.	Reduce -3.6%	0.16%	−0.02
DIA SS SPDR Dow Jones Indus Avg	Reduce -0.2%	0.16%	−0.02
BP BP PLC-Spons ADR	Reduce -0.6%	0.05%	−0.02
PFF iShares Preferred & Income S	Reduce -4.8%	0.07%	−0.02

Portfolio Buys Q1 2025 → Q2 2025


JAAA Janus Henderson Aaa Clo ETF	Add +31.1%	16.49%	+1.97
NVDA Nvidia Corp.	Add +18.1%	3.71%	+1.22
OKE Oneok Inc.	Add +732.8%	1.11%	+0.92
MRK Merck & Co. Inc.	Add +198.6%	1.00%	+0.56
AVGO Broadcom Inc.	Add +58.6%	0.95%	+0.53
CVX Chevron Corp.	Add +100.3%	1.17%	+0.38
PANW Palo Alto Networks Inc.	Add +65.3%	0.69%	+0.29
AMZN Amazon.com Inc.	Add +16.8%	1.90%	+0.27
GOOGL Alphabet Inc. Class A	Add +17.8%	1.70%	+0.24
MLI Mueller Industries Inc.	Add +51.0%	0.76%	+0.20
O Realty Income Corp.	Add +29.5%	1.65%	+0.17
ADBE Adobe Inc.	Add +29.5%	1.10%	+0.13
OKTA Okta Inc.	Add +73.2%	0.40%	+0.12
POWL Powell Industries Inc.	Add +0.9%	1.37%	+0.10
MRVL Marvell Technology Inc.	Add +8.4%	0.40%	+0.06
UNH Unitedhealth Group Inc.	New	0.06%	+0.06
ARKK ARK Innovation ETF	New	0.05%	+0.05
DE Deere & Co.	Add +20.8%	0.44%	+0.05
SMH Vaneck Semiconductor ETF	Add +2.0%	0.34%	+0.05
NSC Norfolk Southern Corp.	New	0.04%	+0.04
AMAT Applied Materials Inc.	Add +2.7%	0.35%	+0.04
QQQ Invesco QQQ Trust Series 1	Add +2.1%	0.80%	+0.03
RSP Invesco S&P 500 Equal Weight	Add +21.6%	0.18%	+0.02
TSLA Tesla Inc.	Add +8.8%	0.11%	+0.02
SOFI Sofi Technologies Inc.	Add +1.6%	0.04%	+0.01
VOX Vanguard Communication Servi	Add +4.7%	0.17%	+0.01
EOG EOG Resources Inc.	Add +30.7%	0.13%	+0.01
UPS United Parcel Service Class B	Add +31.2%	0.12%	+0.00
IYC iShares US Consumer Discreti	Add +4.3%	0.05%	+0.00
SMIN iShares MSCI India Small-Cap	Add +1.7%	0.30%	−0.00
IVV iShares Core S&P 500 ETF	Add +3.0%	0.05%	−0.00
SPDW Ste STR SPDR PT DW Eu ETF	Add +2.3%	0.22%	−0.00
SYY Sysco Corp.	Add +0.1%	0.04%	−0.01
AMT American Tower Corp.	Add +0.1%	0.05%	−0.01
FAST Fastenal Co.	Add +0.1%	0.14%	−0.01
VHT Vanguard Health Care ETF	Add +0.1%	0.06%	−0.01
WEC WEC Energy Group Inc.	Add +0.4%	0.09%	−0.02
UNP Union Pacific Corp.	Add +0.5%	0.12%	−0.02
SCHX Schwab US Large-Cap ETF	Add +1.0%	0.68%	−0.02
IWM iShares Russell 2000 ETF	Add +0.2%	0.36%	−0.02
XEL Xcel Energy Inc.	Add +0.2%	0.14%	−0.03
BMY Bristol-Myers Squibb Co.	Add +0.4%	0.06%	−0.03
EMN Eastman Chemical Co.	Add +3.5%	0.17%	−0.05
XLE SS Energy Select Sector	Add +5.5%	0.37%	−0.08
JEPI JPMorgan Equity Premium Inco	Add +11.4%	3.18%	−0.13
XOM Exxon Mobil Corp.	Add +0.5%	0.54%	−0.15
MLPA Global X MLP ETF	Add +0.2%	2.37%	−0.53

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	159	$603.6M	JAAA, INTC, MU, NVDA, ETR
Q1 2026	158	$548.5M	JAAA, ETR, SGOL, NVDA, JEPI
Q4 2025	160	$549.5M	JAAA, NVDA, SGOL, JEPI, ETR
Q3 2025	155	$569.8M	JAAA, NVDA, JEPI, ETR, SGOL
Q2 2025	150	$531.2M	JAAA, NVDA, JEPI, ETR, SGOL
Q1 2025	150	$459.7M	JAAA, ETR, JEPI, SGOL, MLPA
Q4 2024	153	$422.7M	PFFD, PFF, PGX, NVDA, ETR
Q3 2024	153	$423.3M	PFFD, PFF, PGX, NVDA, SGOL
Q2 2024	158	$400.2M	PFFD, PFF, PGX, NVDA, MLPA
Q1 2024	163	$402.8M	PFF, PFFD, PGX, MLPA, INTC