Advisors Management Group Inc.

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

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 14, 2026), Advisors Management Group Inc. reported 160 stock positions worth $549.5 million. Its top holding was Janus Henderson Aaa Clo ETF (JAAA) at 16.8% of the portfolio, followed by Nvidia (NVDA, 3.9%) and Abrdn Physical Gold Shares (SGOL, 3.2%). Compared with Q3 2025, it opened 6 new positions, sold out of 2, added to 12 and reduced 121. The biggest buy was Duke Energy (DUK, shares +188%) and the biggest sale an exit from Archer-Daniels-Midland (ADM).

Most Recent 13F: Q2 2026
Location: LA CROSSE, WI
CIK: 0000842766
Portfolio Value: $549.5M (Q4 2025)
SEC Filing: 0000842766-26-000001 ↗ filed Jan 14, 2026

Holdings Value

Holdings 160 stocks · $549.5M


JAAA Janus Henderson Aaa Clo ETF	16.77%	1,822,313	$92.2M	Add +3.4%
NVDA Nvidia Corp.	3.91%	115,292	$21.5M	Reduce -6.9%
SGOL Abrdn Physical Gold Shares	3.21%	428,993	$17.6M	Reduce -0.8%
JEPI JPMorgan Equity Premium Inco	3.07%	294,570	$16.9M	Reduce -1.8%
ETR Entergy Corp.	2.92%	173,755	$16.1M	Reduce -4.3%
GOOGL Alphabet Inc. Class A	2.31%	40,556	$12.7M	Reduce -14.9%
SO The Southern Co.	2.23%	140,629	$12.3M	Add +44.7%
MLPA Global X MLP ETF	2.08%	236,296	$11.4M	Reduce -6.6%
AAPL Apple Inc.	1.97%	39,795	$10.8M	Reduce -14.1%
AMZN Amazon.com Inc.	1.97%	46,807	$10.8M	Reduce -10.6%
FE Firstenergy Corp.	1.89%	231,912	$10.4M	Reduce -5.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	1.86%	34,498	$10.2M	Reduce -12.5%
MU Micron Technology Inc.	1.85%	35,674	$10.2M	Reduce -19.4%
DUK Duke Energy Corp.	1.67%	78,293	$9.2M	Add +187.8%
TTE Totalenergies SE -Spon ADR	1.62%	135,875	$8.9M	Reduce -8.8%
POWL Powell Industries Inc.	1.52%	26,131	$8.3M	Reduce -8.3%
INTC Intel Corp.	1.50%	223,943	$8.3M	Reduce -5.2%
WELL Welltower Inc.	1.50%	44,275	$8.2M	Reduce -5.3%
ENB Enbridge Inc.	1.48%	170,232	$8.1M	Reduce -7.8%
CSCO Cisco Systems Inc.	1.48%	105,349	$8.1M	Reduce -16.1%
O Realty Income Corp.	1.36%	132,192	$7.5M	Reduce -0.7%
MSFT Microsoft Corp.	1.29%	14,693	$7.1M	Reduce -18.5%
AMD Advanced Micro Devices	1.26%	32,386	$6.9M	Reduce -19.5%
MLI Mueller Industries Inc.	1.19%	56,965	$6.5M	Reduce -14.0%
MRK Merck & Co. Inc.	1.12%	58,625	$6.2M	Reduce -15.2%
JPM JPMorgan Chase & Co.	1.05%	17,973	$5.8M	Reduce -18.5%
CVX Chevron Corp.	1.04%	37,380	$5.7M	Reduce -13.6%
EMR Emerson Electric Co.	1.03%	42,573	$5.7M	Reduce -17.9%
VZ Verizon Communications Inc.	1.00%	135,558	$5.5M	Reduce -21.7%
JNJ Johnson & Johnson	1.00%	26,461	$5.5M	Reduce -10.5%
OKE Oneok Inc.	0.96%	71,725	$5.3M	Reduce -12.2%
GE General Electric filed as GE AEROSPACE	0.94%	16,817	$5.2M	Reduce -1.0%
LAMR Lamar Advertising Co. Class A	0.88%	38,272	$4.8M	Reduce -15.0%
MDT Medtronic PLC	0.87%	49,539	$4.8M	Reduce -5.7%
AVGO Broadcom Inc.	0.85%	13,480	$4.7M	Reduce -25.6%
QQQ Invesco QQQ Trust Series 1	0.83%	7,445	$4.6M	Reduce -1.9%
AEP American Electric Power	0.80%	38,351	$4.4M	Reduce -8.6%
PANW Palo Alto Networks Inc.	0.80%	23,958	$4.4M	Add +0.3%
ADBE Adobe Inc.	0.78%	12,207	$4.3M	Reduce -20.2%
VTR Ventas Inc.	0.72%	51,417	$4.0M	Reduce -17.3%
SCHX Schwab US Large-Cap ETF	0.69%	140,514	$3.8M	Reduce -2.5%
WM Waste Management Inc.	0.68%	17,077	$3.8M	Reduce -7.1%
PFE Pfizer Inc.	0.67%	148,395	$3.7M	Reduce -21.0%
GSK GSK PLC-Spon ADR	0.66%	74,090	$3.6M	Reduce -16.3%
HON Honeywell International Inc.	0.63%	17,722	$3.5M	Reduce -31.0%
GILD Gilead Sciences Inc.	0.63%	28,105	$3.5M	Reduce -14.8%
VVR Invesco Senior Income Trust	0.60%	1,003,299	$3.3M	Reduce -22.1%
VTI VG Morningstar TS MKT ETF-US	0.58%	9,586	$3.2M	Reduce -1.7%
XOM Exxon Mobil Corp.	0.58%	26,320	$3.2M	Reduce -6.3%
SCHD Schwab US DVD Equity ETF	0.56%	111,779	$3.1M	Reduce -1.5%
C Citigroup Inc.	0.52%	24,619	$2.9M	Reduce -18.1%
PG The Procter & Gamble Co.	0.51%	19,417	$2.8M	Reduce -30.1%
JCI Johnson Controls Internation	0.50%	23,021	$2.8M	Reduce -24.4%
AMAT Applied Materials Inc.	0.50%	10,600	$2.7M	Reduce -1.2%
SHEL Shell PLC-ADR	0.49%	36,944	$2.7M	Reduce -0.3%
GEV GE Vernova Inc.	0.48%	4,076	$2.7M	Reduce -0.7%
CAT Caterpillar Inc.	0.46%	4,371	$2.5M	Reduce -18.8%
DELL Dell Technologies -C	0.46%	19,870	$2.5M	Reduce -35.3%
OKTA Okta Inc.	0.44%	28,039	$2.4M	Add +7.3%
QCOM Qualcomm Inc.	0.43%	13,932	$2.4M	Reduce -38.3%
D Dominion Energy Inc.	0.43%	40,024	$2.3M	Reduce -19.1%
SMH Vaneck Semiconductor ETF	0.41%	6,307	$2.3M	Reduce -1.7%
IDU iShares US Utilities ETF	0.41%	20,764	$2.3M	Reduce -2.0%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX	0.40%	30,150	$2.2M	Reduce -40.2%
IWM iShares Russell 2000 ETF	0.38%	8,460	$2.1M	Reduce -2.0%
XLE SS Energy Select Sector	0.37%	44,972	$2.0M	Reduce -1.4%
NVS Novartis AG-Sponsored ADR	0.36%	14,318	$2.0M	Reduce -11.4%
XLV SS Health Care Select Sector	0.35%	12,475	$1.9M	Reduce -1.3%
KO The Coca-Cola Co.	0.33%	25,644	$1.8M	Reduce -24.9%
MMM 3M Co.	0.32%	11,017	$1.8M	Reduce -23.7%
DE Deere & Co.	0.32%	3,761	$1.8M	Reduce -17.6%
BRK.B Berkshire Hathaway Inc. Class B	0.30%	3,318	$1.7M	Reduce -6.3%
MRVL Marvell Technology Inc.	0.27%	17,730	$1.5M	Reduce -44.7%
SMIN iShares MSCI India Small-Cap	0.26%	20,197	$1.4M	Reduce -0.9%
XLF SS Financial Select Sector	0.24%	24,257	$1.3M	Reduce -1.7%
SPDW Ste STR SPDR PT DW Eu ETF	0.22%	27,679	$1.2M	Reduce -1.3%
ISRG Intuitive Surgical Inc.	0.22%	2,115	$1.2M	Add +7.4%
NGG National Grid PLC-SP ADR	0.20%	14,293	$1.1M	Reduce -0.8%
KMI Kinder Morgan Inc.	0.20%	39,911	$1.1M	Reduce -1.1%
IXUS iShares Core Intl Stock ETF	0.20%	12,869	$1.1M	Reduce -0.9%
RSP Invesco S&P 500 Equal Weight	0.19%	5,445	$1.0M	Reduce -0.2%
VOX Vanguard Communication Servi	0.19%	5,273	$1.0M	Reduce -1.5%
WMT Walmart Inc.	0.17%	8,514	$949K	Reduce -3.4%
CHD Church & Dwight Co. Inc.	0.17%	11,206	$940K	No change
UPS United Parcel Service Class B	0.16%	8,893	$882K	Add +14.8%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE	0.16%	1,794	$862K	Reduce -2.0%
BUG Global X Cybersecurity ETF	0.16%	28,068	$855K	Reduce -0.7%
GOOG Alphabet Inc. Class C	0.15%	2,715	$852K	Reduce -0.1%
NUE Nucor Corp.	0.15%	5,078	$828K	Reduce -0.6%
TSLA Tesla Inc.	0.15%	1,796	$808K	Reduce -8.2%
J Jacobs Solutions Inc.	0.15%	6,034	$799K	Reduce -1.5%
WFC Wells Fargo & Co.	0.14%	8,405	$783K	Reduce -0.2%
XEL Xcel Energy Inc.	0.14%	10,485	$774K	Reduce -2.5%
DLR Digital Realty Trust Inc.	0.14%	4,988	$772K	Reduce -29.1%
EMN Eastman Chemical Co.	0.14%	11,633	$743K	Reduce -5.6%
DOC Healthpeak Properties Inc.	0.13%	45,370	$730K	Reduce -50.5%
FAST Fastenal Co.	0.12%	16,503	$662K	Reduce -6.6%
WEC WEC Energy Group Inc.	0.12%	6,250	$659K	Add +38.0%
EOG EOG Resources Inc.	0.12%	6,206	$652K	Reduce -2.0%
UNP Union Pacific Corp.	0.12%	2,763	$639K	Add +0.5%
STT State Street Corp.	0.10%	4,267	$550K	Reduce -1.7%
PEG Public Service Enterprise GP	0.10%	6,707	$539K	New
TT Trane Technologies PLC	0.09%	1,284	$500K	No change
V Visa Inc. Class A	0.09%	1,383	$485K	Reduce -2.0%
USB US Bancorp	0.08%	8,624	$460K	Reduce -1.6%
AXP American Express Co.	0.08%	1,215	$449K	Reduce -3.0%
AZN Astrazeneca PLC-Spons ADR	0.08%	4,696	$432K	No change
GEHC GE Healthcare Technology	0.08%	5,236	$429K	Reduce -3.4%
HII Huntington Ingalls Industrie	0.08%	1,252	$426K	New
PEP Pepsico Inc.	0.08%	2,967	$426K	Reduce -1.6%
EPD Enterprise Products Partners	0.08%	13,256	$425K	Reduce -0.6%
T AT&T Inc.	0.07%	16,179	$402K	Reduce -0.6%
IYH iShares U.S. Healthcare ETF	0.07%	6,076	$396K	No change
VHT Vanguard Health Care ETF	0.07%	1,355	$390K	No change
BMY Bristol-Myers Squibb Co.	0.07%	7,107	$383K	Reduce -3.5%
FINX Global X Fintech ETF	0.07%	12,303	$362K	Reduce -1.6%
PAVE Global X US Infrastructure	0.07%	7,519	$359K	Reduce -2.9%
TRV The Travelers Cos Inc.	0.06%	1,178	$342K	Reduce -3.0%
UNH Unitedhealth Group Inc.	0.06%	1,018	$336K	No change
NTRS Northern Trust Corp.	0.06%	2,440	$333K	No change
IYW iShares Ustechnology ETF	0.06%	1,591	$318K	No change
PFF iShares Preferred & Income S	0.06%	10,244	$317K	Reduce -11.1%
NFLX Netflix Inc.	0.06%	3,280	$308K	Add +2.2%
IJJ iShares S&P Mid-Cap 400 Valu	0.06%	2,312	$304K	Reduce -10.5%
SOFI Sofi Technologies Inc.	0.06%	11,526	$302K	Add +0.9%
COF Capital One Financial Corp.	0.05%	1,240	$301K	New
IYC iShares US Consumer Discreti	0.05%	2,912	$300K	No change
BP BP PLC-Spons ADR	0.05%	8,545	$297K	Reduce -2.6%
HSY The Hershey Co.	0.05%	1,600	$291K	No change
ARKK ARK Innovation ETF	0.05%	3,611	$278K	Reduce -2.3%
JBHT Hunt (jb) Transprt SVCS Inc.	0.05%	1,400	$272K	New
PFFD Global X US Preferred ETF	0.05%	14,296	$270K	Reduce -7.8%
SWK Stanley Black & Decker Inc.	0.05%	3,581	$266K	Reduce -2.6%
IVV iShares Core S&P 500 ETF	0.05%	386	$264K	No change
CMI Cummins Inc.	0.05%	503	$257K	No change
GNRC Generac Holdings Inc.	0.05%	1,868	$255K	No change
AMGN Amgen Inc.	0.05%	776	$254K	No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	0.05%	3,037	$252K	No change
MCD McDonald's Corp.	0.05%	825	$252K	Add +0.1%
KMB Kimberly-Clark Corp.	0.05%	2,491	$251K	Reduce -13.4%
SPY SS SPDR S&P 500 ETF Trust-US	0.05%	366	$250K	Reduce -39.5%
TXN Texas Instruments Inc.	0.05%	1,437	$249K	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.04%	2,166	$246K	Reduce -2.3%
DFUS Dimensional US Eq MKT ETF	0.04%	3,278	$243K	Reduce -14.4%
NSC Norfolk Southern Corp.	0.04%	843	$243K	Reduce -0.1%
META Meta Platforms Inc. Class A	0.04%	363	$240K	Reduce -2.2%
ABBV Abbvie Inc.	0.04%	1,037	$237K	Reduce -0.9%
RTX RTX Corp.	0.04%	1,274	$234K	No change
SOLS Solstice Adv Materials Inc.	0.04%	4,774	$232K	Reduce -25.7%
IJK iShares S&P Mid-Cap 400 Grow	0.04%	2,320	$225K	Reduce -13.2%
AMT American Tower Corp.	0.04%	1,268	$223K	Reduce -2.8%
GTLS Chart Industries Inc.	0.04%	996	$205K	Reduce -13.8%
SYY Sysco Corp.	0.04%	2,737	$202K	Reduce -0.4%
PGX Invesco Preferred ETF	0.03%	13,440	$151K	Reduce -4.6%
WRN Western Copper and Gold Corp.	0.02%	42,282	$113K	No change
LYG Lloyds Banking Group PLC-ADR	0.02%	20,148	$107K	No change
AMCR Amcor PLC	0.02%	10,417	$87K	New
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 Q3 2025 → Q4 2025


ADM Archer-Daniels-Midland Co.	Sold out	0.00%	−0.40
MSFT Microsoft Corp.	Reduce -18.5%	1.29%	−0.35
VZ Verizon Communications Inc.	Reduce -21.7%	1.00%	−0.33
HON Honeywell International Inc.	Reduce -31.0%	0.63%	−0.32
DELL Dell Technologies -C	Reduce -35.3%	0.46%	−0.31
PG The Procter & Gamble Co.	Reduce -30.1%	0.51%	−0.24
QCOM Qualcomm Inc.	Reduce -38.3%	0.43%	−0.23
AVGO Broadcom Inc.	Reduce -25.6%	0.85%	−0.20
MRVL Marvell Technology Inc.	Reduce -44.7%	0.27%	−0.20
VVR Invesco Senior Income Trust	Reduce -22.1%	0.60%	−0.19
DOC Healthpeak Properties Inc.	Reduce -50.5%	0.13%	−0.17
ADBE Adobe Inc.	Reduce -20.2%	0.78%	−0.17
PFE Pfizer Inc.	Reduce -21.0%	0.67%	−0.17
BNS Bank of Nova Scotia	Reduce -40.2%	0.40%	−0.17
JPM JPMorgan Chase & Co.	Reduce -18.5%	1.05%	−0.17
EMR Emerson Electric Co.	Reduce -17.9%	1.03%	−0.17
ENB Enbridge Inc.	Reduce -7.8%	1.48%	−0.15
CVX Chevron Corp.	Reduce -13.6%	1.04%	−0.14
NVDA Nvidia Corp.	Reduce -6.9%	3.91%	−0.14
D Dominion Energy Inc.	Reduce -19.1%	0.43%	−0.10
AAPL Apple Inc.	Reduce -14.1%	1.97%	−0.10
IBM Intl Business Machines Corp.	Reduce -12.5%	1.86%	−0.09
FE Firstenergy Corp.	Reduce -5.8%	1.89%	−0.09
OKE Oneok Inc.	Reduce -12.2%	0.96%	−0.09
JCI Johnson Controls Internation	Reduce -24.4%	0.50%	−0.09
LAMR Lamar Advertising Co. Class A	Reduce -15.0%	0.88%	−0.09
DLR Digital Realty Trust Inc.	Reduce -29.1%	0.14%	−0.07
MMM 3M Co.	Reduce -23.7%	0.32%	−0.07
KO The Coca-Cola Co.	Reduce -24.9%	0.33%	−0.07
MLPA Global X MLP ETF	Reduce -6.6%	2.08%	−0.07
O Realty Income Corp.	Reduce -0.7%	1.36%	−0.06
AMZN Amazon.com Inc.	Reduce -10.6%	1.97%	−0.05
DE Deere & Co.	Reduce -17.6%	0.32%	−0.05
ETR Entergy Corp.	Reduce -4.3%	2.92%	−0.05
VTR Ventas Inc.	Reduce -17.3%	0.72%	−0.04
ORCL Oracle Corp.	Sold out	0.00%	−0.04
FAST Fastenal Co.	Reduce -6.6%	0.12%	−0.03
CSCO Cisco Systems Inc.	Reduce -16.1%	1.48%	−0.03
WM Waste Management Inc.	Reduce -7.1%	0.68%	−0.03
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -39.5%	0.05%	−0.03
AEP American Electric Power	Reduce -8.6%	0.80%	−0.02
BUG Global X Cybersecurity ETF	Reduce -0.7%	0.16%	−0.02
KMB Kimberly-Clark Corp.	Reduce -13.4%	0.05%	−0.02
J Jacobs Solutions Inc.	Reduce -1.5%	0.15%	−0.02
GILD Gilead Sciences Inc.	Reduce -14.8%	0.63%	−0.02
SOLS Solstice Adv Materials Inc.	Reduce -25.7%	0.04%	−0.01
MDT Medtronic PLC	Reduce -5.7%	0.87%	−0.01
C Citigroup Inc.	Reduce -18.1%	0.52%	−0.01
XEL Xcel Energy Inc.	Reduce -2.5%	0.14%	−0.01
GSK GSK PLC-Spon ADR	Reduce -16.3%	0.66%	−0.01

Portfolio Buys Q3 2025 → Q4 2025


DUK Duke Energy Corp.	Add +187.8%	1.67%	+1.08
JAAA Janus Henderson Aaa Clo ETF	Add +3.4%	16.77%	+1.07
SO The Southern Co.	Add +44.7%	2.23%	+0.62
PEG Public Service Enterprise GP	New	0.10%	+0.10
HII Huntington Ingalls Industrie	New	0.08%	+0.08
ISRG Intuitive Surgical Inc.	Add +7.4%	0.22%	+0.06
COF Capital One Financial Corp.	New	0.05%	+0.05
JBHT Hunt (jb) Transprt SVCS Inc.	New	0.05%	+0.05
UPS United Parcel Service Class B	Add +14.8%	0.16%	+0.05
TXN Texas Instruments Inc.	New	0.05%	+0.05
WEC WEC Energy Group Inc.	Add +38.0%	0.12%	+0.03
OKTA Okta Inc.	Add +7.3%	0.44%	+0.02
AMCR Amcor PLC	New	0.02%	+0.02
UNP Union Pacific Corp.	Add +0.5%	0.12%	+0.00
MCD McDonald's Corp.	Add +0.1%	0.05%	+0.00
SOFI Sofi Technologies Inc.	Add +0.9%	0.06%	+0.00
NFLX Netflix Inc.	Add +2.2%	0.06%	−0.01
PANW Palo Alto Networks Inc.	Add +0.3%	0.80%	−0.05

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