Alhambra Investment Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 15, 2025), Alhambra Investment Management LLC reported 178 stock positions worth $210.6 million. Its top holding was Apple (AAPL) at 6.5% of the portfolio, followed by Schwab Fndmntl US LRG Co. ETF (FNDX, 5.1%) and iShares Core Dividend Growth (DGRO, 3.6%). Compared with Q2 2025, it opened 11 new positions, sold out of 13, added to 53 and reduced 80. The biggest buy was Alphabet Class C (GOOG, shares +5%) and the biggest sale iShares Gold Trust (IAU, shares −30%).
- Most Recent 13F
- Q2 2026
- Location
- PALMETTO BAY, FL
- CIK
- 0001802696
- Portfolio Value
- $210.6M (Q3 2025)
- SEC Filing
- 0001802696-25-000009 ↗ filed Oct 15, 2025
Holdings Value
Holdings 178 stocks · $210.6M
| AAPL Apple Inc. | 6.51% | 53,844 | $13.7M | Reduce -1.6% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 5.07% | 406,014 | $10.7M | Reduce -0.4% |
| DGRO iShares Core Dividend Growth | 3.59% | 111,121 | $7.6M | Add +0.0% |
| STIP iShares 0-5 Year Tips Bond E | 2.84% | 57,772 | $6.0M | Add +7.6% |
| SPGP Invesco S&P 500 Garp ETF | 2.67% | 49,489 | $5.6M | Reduce -1.9% |
| COST Costco Wholesale Corp. | 2.57% | 5,837 | $5.4M | Reduce -0.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 2.54% | 124,688 | $5.4M | Reduce -4.5% |
| GOOGL Alphabet Inc. Class A | 2.24% | 19,377 | $4.7M | Reduce -0.5% |
| REET iShares Global REIT ETF | 2.09% | 172,411 | $4.4M | Reduce -0.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 2.04% | 20,601 | $4.3M | Reduce -1.9% |
| VNQ Vanguard Real Estate ETF | 2.01% | 46,198 | $4.2M | Add +2.0% |
| IJH iShares Core S&P Midcap ETF | 1.95% | 63,070 | $4.1M | Reduce -1.3% |
| VGSH Vanguard Short-Term Treasury | 1.86% | 66,495 | $3.9M | Add +9.1% |
| VGIT Vanguard Intermediate-Term T | 1.84% | 64,601 | $3.9M | Add +8.6% |
| BNDW Vanguard Total World Bond Et | 1.75% | 52,900 | $3.7M | Add +11.8% |
| MSFT Microsoft Corp. | 1.74% | 7,083 | $3.7M | Reduce -5.2% |
| GOOG Alphabet Inc. Class C | 1.74% | 15,026 | $3.7M | Add +4.5% |
| IAU iShares Gold Trust | 1.64% | 47,351 | $3.4M | Reduce -29.9% |
| SUB iShares Short-Term National | 1.59% | 31,407 | $3.4M | Add +2.7% |
| VXUS Vanguard Total Intl Stock | 1.46% | 41,734 | $3.1M | Reduce -11.0% |
| AGG iShares Core U.S. Aggregate | 1.43% | 30,052 | $3.0M | Reduce -1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.30% | 5,444 | $2.7M | Add +0.3% |
| HD Home Depot Inc. | 1.16% | 6,011 | $2.4M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.10% | 7,335 | $2.3M | Reduce -0.8% |
| COMT iShares Gsci Commodity Dynam | 1.02% | 80,071 | $2.1M | Add +0.1% |
| PDBC Invesco Optimum Yield Divers | 1.02% | 159,749 | $2.1M | Reduce -0.1% |
| ISRG Intuitive Surgical Inc. | 0.96% | 4,500 | $2.0M | No change |
| MUB iShares National Muni Bond E | 0.84% | 16,631 | $1.8M | Reduce -24.3% |
| CSCO Cisco Systems Inc. | 0.83% | 25,651 | $1.8M | No change |
| PPLT Abrdn Physical Platinum SHRS | 0.82% | 12,020 | $1.7M | Add +5.0% |
| PALL Abrdn Physical Palladium SHS | 0.81% | 14,920 | $1.7M | Reduce -5.8% |
| QCOM Qualcomm Inc. | 0.81% | 10,205 | $1.7M | Reduce -0.4% |
| JNJ Johnson & Johnson | 0.77% | 8,751 | $1.6M | Reduce -4.1% |
| PEP Pepsico Inc. | 0.74% | 11,163 | $1.6M | Add +8.0% |
| GE General Electric filed as GE AEROSPACE | 0.73% | 5,115 | $1.5M | Reduce -1.4% |
| V Visa Inc. Class A | 0.73% | 4,488 | $1.5M | Reduce -2.3% |
| NFLX Netflix Inc. | 0.71% | 1,247 | $1.5M | Add +6.0% |
| ORCL Oracle Corp. | 0.70% | 5,276 | $1.5M | Reduce -2.4% |
| TDS Telephone and Data Systems | 0.63% | 34,000 | $1.3M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.62% | 9,076 | $1.3M | Add +1.6% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.62% | 26,188 | $1.3M | Add +85.7% |
| AXP American Express Co. | 0.59% | 3,742 | $1.2M | Reduce -12.5% |
| NEE Nextera Energy Inc. | 0.59% | 16,353 | $1.2M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 0.58% | 5,584 | $1.2M | Reduce -0.4% |
| RTX RTX Corp. | 0.58% | 7,302 | $1.2M | No change |
| PNC PNC Financial Services Group | 0.55% | 5,806 | $1.2M | Add +0.3% |
| META Meta Platforms Inc. Class A | 0.55% | 1,572 | $1.2M | Add +1.5% |
| AMGN Amgen Inc. | 0.54% | 4,047 | $1.1M | Add +1.8% |
| SONY Sony Group Corp. - SP ADR | 0.54% | 39,392 | $1.1M | Reduce -1.5% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.52% | 10,800 | $1.1M | Add +38.5% |
| GRMN Garmin Ltd. | 0.52% | 4,423 | $1.1M | Reduce -0.8% |
| WMT Walmart Inc. | 0.52% | 10,530 | $1.1M | Reduce -0.5% |
| MCD McDonald's Corp. | 0.48% | 3,347 | $1.0M | Reduce -5.3% |
| KO The Coca-Cola Co. | 0.45% | 14,334 | $951K | Reduce -7.7% |
| PH Parker Hannifin Corp. | 0.45% | 1,251 | $948K | Reduce -3.1% |
| ADP Automatic Data Processing | 0.43% | 3,060 | $898K | Reduce -1.1% |
| MRK Merck & Co. Inc. | 0.43% | 10,698 | $898K | Reduce -1.6% |
| PG The Procter & Gamble Co. | 0.42% | 5,777 | $888K | No change |
| LLY Eli Lilly & Co. | 0.42% | 1,158 | $884K | Add +25.3% |
| SHEL Shell PLC-ADR | 0.41% | 12,166 | $870K | Reduce -1.0% |
| XOM Exxon Mobil Corp. | 0.40% | 7,518 | $848K | Reduce -16.6% |
| ABBV Abbvie Inc. | 0.40% | 3,628 | $840K | Reduce -7.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.40% | 9,086 | $834K | Add +2.0% |
| CVX Chevron Corp. | 0.39% | 5,325 | $827K | No change |
| NOC Northrop Grumman Corp. | 0.36% | 1,256 | $765K | Reduce -1.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.35% | 8,765 | $727K | Reduce -3.9% |
| SSNC Ss&c Technologies Holdings | 0.34% | 8,180 | $726K | Add +11.7% |
| SYK Stryker Corp. | 0.34% | 1,937 | $716K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.34% | 6,249 | $715K | Add +3.0% |
| LRCX Lam Research Corp. | 0.33% | 5,154 | $690K | Reduce -1.1% |
| GLD SPDR Gold Shares | 0.32% | 1,904 | $677K | Reduce -8.5% |
| CI The Cigna Group | 0.32% | 2,346 | $676K | Reduce -15.7% |
| NVS Novartis AG-Sponsored ADR | 0.32% | 5,252 | $674K | Add +2.1% |
| DHR Danaher Corp. | 0.32% | 3,392 | $673K | Add +28.4% |
| BSV Vanguard Short-Term Bond ETF | 0.32% | 8,519 | $672K | Reduce -4.0% |
| TRV The Travelers Cos Inc. | 0.32% | 2,400 | $670K | Add +3.0% |
| LOW Lowe's Cos Inc. | 0.31% | 2,600 | $653K | Reduce -14.8% |
| ADSK Autodesk Inc. | 0.31% | 2,044 | $649K | Reduce -0.9% |
| IJR iShares Core S&P Small-Cap E | 0.30% | 5,361 | $637K | Add +0.5% |
| CHWY Chewy Inc. Class A | 0.30% | 15,665 | $634K | Reduce -0.1% |
| HSY The Hershey Co. | 0.29% | 3,250 | $608K | Reduce -5.5% |
| YUM Yum! Brands Inc. | 0.29% | 3,989 | $606K | Reduce -13.1% |
| CSL Carlisle Cos Inc. | 0.28% | 1,823 | $600K | No change |
| ETN Eaton Corp. PLC | 0.28% | 1,595 | $597K | Reduce -4.8% |
| CTAS Cintas Corp. | 0.27% | 2,820 | $579K | No change |
| ACN Accenture PLC Class A | 0.27% | 2,342 | $578K | Add +1.7% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.27% | 5,225 | $569K | Reduce -15.4% |
| PYPL PayPal Holdings Inc. | 0.26% | 8,025 | $538K | Reduce -44.7% |
| RSG Republic Services Inc. | 0.25% | 2,337 | $536K | No change |
| JPST JPMorgan Ultra-Short Income | 0.25% | 10,262 | $521K | No change |
| AIQ Global X Art Intel & Tech | 0.24% | 10,447 | $516K | Add +0.5% |
| AMAT Applied Materials Inc. | 0.24% | 2,440 | $500K | Add +30.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.23% | 9,208 | $475K | Reduce -0.8% |
| AFL Aflac Inc. | 0.22% | 4,195 | $469K | Reduce -16.4% |
| ADBE Adobe Inc. | 0.22% | 1,323 | $467K | Reduce -0.5% |
| ABT Abbott Laboratories | 0.22% | 3,465 | $464K | Reduce -18.9% |
| GEHC GE Healthcare Technology | 0.22% | 6,076 | $456K | Reduce -0.9% |
| SBUX Starbucks Corp. | 0.22% | 5,368 | $454K | Add +8.8% |
| PLD Prologis Inc. | 0.21% | 3,942 | $451K | No change |
| NVDA Nvidia Corp. | 0.20% | 2,298 | $429K | Reduce -4.2% |
Portfolio Sells Q2 2025 → Q3 2025
| IAU iShares Gold Trust | Reduce -29.9% | 1.64% | −0.45 |
| COST Costco Wholesale Corp. | Reduce -0.2% | 2.57% | −0.30 |
| MUB iShares National Muni Bond E | Reduce -24.3% | 0.84% | −0.30 |
| PYPL PayPal Holdings Inc. | Reduce -44.7% | 0.26% | −0.28 |
| JBL Jabil Inc. | Sold out | 0.00% | −0.22 |
| CTSH Cognizant Tech Solutions-A | Reduce -43.8% | 0.15% | −0.17 |
| ZM Zoom Communications Inc. | Sold out | 0.00% | −0.16 |
| VXUS Vanguard Total Intl Stock | Reduce -11.0% | 1.46% | −0.15 |
| MAT Mattel Inc. | Sold out | 0.00% | −0.14 |
| CI The Cigna Group | Reduce -15.7% | 0.32% | −0.14 |
| COP Conocophillips | Sold out | 0.00% | −0.12 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.12 |
| DOX Amdocs Ltd. | Sold out | 0.00% | −0.12 |
| LHX L3HARRIS Technologies Inc. | Sold out | 0.00% | −0.12 |
| AVT Avnet Inc. | Sold out | 0.00% | −0.11 |
| MDLZ Mondelez International Inc. Class A | Reduce -47.1% | 0.10% | −0.11 |
| VEEV Veeva Systems Inc. Class A | Reduce -51.4% | 0.10% | −0.11 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.11 |
| CMI Cummins Inc. | Sold out | 0.00% | −0.10 |
| MSFT Microsoft Corp. | Reduce -5.2% | 1.74% | −0.10 |
| TAP Molson Coors Beverage Co. Class B | Sold out | 0.00% | −0.10 |
| KO The Coca-Cola Co. | Reduce -7.7% | 0.45% | −0.09 |
| KMI Kinder Morgan Inc. | Reduce -33.6% | 0.14% | −0.09 |
| AXP American Express Co. | Reduce -12.5% | 0.59% | −0.09 |
| PFE Pfizer Inc. | Reduce -40.7% | 0.12% | −0.08 |
| V Visa Inc. Class A | Reduce -2.3% | 0.73% | −0.08 |
| EOG EOG Resources Inc. | Reduce -32.3% | 0.12% | −0.08 |
| XOM Exxon Mobil Corp. | Reduce -16.6% | 0.40% | −0.08 |
| UPWK Upwork Inc. | Sold out | 0.00% | −0.08 |
| ABT Abbott Laboratories | Reduce -18.9% | 0.22% | −0.07 |
| AGG iShares Core U.S. Aggregate | Reduce -1.3% | 1.43% | −0.07 |
| YUM Yum! Brands Inc. | Reduce -13.1% | 0.29% | −0.05 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -4.5% | 2.54% | −0.05 |
| BRFS BRF SA-ADR | Sold out | 0.00% | −0.05 |
| ACWI iShares MSCI Acwi ETF | Reduce -21.9% | 0.20% | −0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -17.9% | 0.15% | −0.05 |
| ADP Automatic Data Processing | Reduce -1.1% | 0.43% | −0.05 |
| AFL Aflac Inc. | Reduce -16.4% | 0.22% | −0.04 |
| COF Capital One Financial Corp. | Reduce -18.3% | 0.14% | −0.04 |
| WEC WEC Energy Group Inc. | Reduce -23.5% | 0.15% | −0.04 |
| ADBE Adobe Inc. | Reduce -0.5% | 0.22% | −0.03 |
| NKE Nike Inc. Class B | Reduce -8.7% | 0.19% | −0.03 |
| CHWY Chewy Inc. Class A | Reduce -0.1% | 0.30% | −0.03 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -3.9% | 0.35% | −0.03 |
| MCD McDonald's Corp. | Reduce -5.3% | 0.48% | −0.03 |
| AMZN Amazon.com Inc. | Reduce -0.4% | 0.58% | −0.03 |
| BSV Vanguard Short-Term Bond ETF | Reduce -4.0% | 0.32% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -14.8% | 0.31% | −0.03 |
| IYR iShares US Real Estate ETF | Reduce -10.0% | 0.19% | −0.03 |
| REET iShares Global REIT ETF | Reduce -0.3% | 2.09% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOG Alphabet Inc. Class C | Add +4.5% | 1.74% | +0.47 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +85.7% | 0.62% | +0.28 |
| MU Micron Technology Inc. | New | 0.15% | +0.15 |
| OLED Universal Display Corp. | New | 0.14% | +0.14 |
| SNA Snap-on Inc. | New | 0.14% | +0.14 |
| VTES Vanguard SH Term Tax-Ex Bond | Add +38.5% | 0.52% | +0.13 |
| BNDW Vanguard Total World Bond Et | Add +11.8% | 1.75% | +0.12 |
| ZTS Zoetis Inc. | New | 0.12% | +0.12 |
| LPX Louisiana-Pacific Corp. | New | 0.12% | +0.12 |
| PPLT Abrdn Physical Platinum SHRS | Add +5.0% | 0.82% | +0.12 |
| NXT Nextpower Inc. | New | 0.11% | +0.11 |
| AIT Applied Industrial Tech Inc. | New | 0.11% | +0.11 |
| ESNT Essent Group Ltd. | New | 0.10% | +0.10 |
| GILD Gilead Sciences Inc. | New | 0.10% | +0.10 |
| STIP iShares 0-5 Year Tips Bond E | Add +7.6% | 2.84% | +0.10 |
| VTI VG Morningstar TS MKT ETF-US | New | 0.10% | +0.10 |
| VGSH Vanguard Short-Term Treasury | Add +9.1% | 1.86% | +0.08 |
| VGIT Vanguard Intermediate-Term T | Add +8.6% | 1.84% | +0.08 |
| TJX TJX Companies Inc. | Add +1.6% | 0.62% | +0.08 |
| GRFS Grifols SA-ADR | New | 0.07% | +0.07 |
| NDSN Nordson Corp. | Add +68.7% | 0.17% | +0.07 |
| DGRO iShares Core Dividend Growth | Add +0.0% | 3.59% | +0.07 |
| PEP Pepsico Inc. | Add +8.0% | 0.74% | +0.07 |
| AMAT Applied Materials Inc. | Add +30.1% | 0.24% | +0.07 |
| MDT Medtronic PLC | Add +54.6% | 0.17% | +0.06 |
| LLY Eli Lilly & Co. | Add +25.3% | 0.42% | +0.06 |
| DHR Danaher Corp. | Add +28.4% | 0.32% | +0.06 |
| TDW Tidewater Inc. | Add +33.0% | 0.15% | +0.05 |
| CCL Carnival Corp. | Add +32.8% | 0.20% | +0.05 |
| AZN Astrazeneca PLC-Spons ADR | Add +21.7% | 0.20% | +0.04 |
| SSNC Ss&c Technologies Holdings | Add +11.7% | 0.34% | +0.04 |
| KLAC KLA Corp. | Add +3.5% | 0.19% | +0.03 |
| GD General Dynamics Corp. | Add +14.2% | 0.13% | +0.03 |
| VTIP Vanguard Short-Term Tips | Add +28.7% | 0.14% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +8.2% | 0.20% | +0.02 |
| AIQ Global X Art Intel & Tech | Add +0.5% | 0.24% | +0.02 |
| PNC PNC Financial Services Group | Add +0.3% | 0.55% | +0.02 |
| ABEV Ambev SA-ADR | Add +42.3% | 0.07% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +0.5% | 0.30% | +0.01 |
| NVS Novartis AG-Sponsored ADR | Add +2.1% | 0.32% | +0.01 |
| DUK Duke Energy Corp. | Add +7.2% | 0.14% | +0.01 |
| VWO Vanguard Ftse Emerging Marke | Add +4.2% | 0.11% | +0.01 |
| TRV The Travelers Cos Inc. | Add +3.0% | 0.32% | +0.01 |
| CRM Salesforce Inc. | Add +29.5% | 0.12% | +0.01 |
| VIV Telefonica Brasil-ADR | Add +2.7% | 0.07% | +0.01 |
| VNQ Vanguard Real Estate ETF | Add +2.0% | 2.01% | +0.01 |
| TRMB Trimble Inc. | Add +1.6% | 0.11% | +0.00 |
| RSP Invesco S&P 500 Equal Weight | Add +1.0% | 0.13% | +0.00 |
| DEO Diageo PLC-Sponsored ADR | Add +10.0% | 0.15% | −0.00 |
| COMT iShares Gsci Commodity Dynam | Add +0.1% | 1.02% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 182 | $229.1M | AAPL, FNDX, DGRO, STIP, GOOGL |
| Q1 2026 | 176 | $216.6M | AAPL, FNDX, DGRO, STIP, FNDF |
| Q4 2025 | 175 | $215.0M | AAPL, FNDX, DGRO, STIP, GOOGL |
| Q3 2025 | 178 | $210.6M | AAPL, FNDX, DGRO, STIP, SPGP |
| Q2 2025 | 180 | $201.7M | AAPL, FNDX, DGRO, COST, STIP |
| Q1 2025 | 163 | $194.1M | AAPL, FNDX, VBR, DGRO, COST |
| Q4 2024 | 166 | $195.0M | AAPL, VBR, FNDX, DGRO, COST |
| Q3 2024 | 174 | $192.8M | AAPL, VBR, FNDX, DGRO, COST |
| Q2 2024 | 169 | $182.6M | AAPL, VGIT, IAU, DGRO, COST |
| Q1 2024 | 161 | $182.9M | VGIT, AAPL, VNQ, IAU, MUB |