Arnhold LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Arnhold LLC reported 114 stock positions worth $1.3 billion. Its top holding was SPDR Gold Shares (GLD) at 15.2% of the portfolio, followed by iShares Gold Trust (IAU, 10.8%) and Alphabet Class A (GOOGL, 4.5%). Compared with Q3 2025, it opened 3 new positions, sold out of 5, added to 16 and reduced 13. The biggest buy was a new position in Baxter International (BAX) and the biggest sale Broadcom (AVGO, shares −15%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001733755
Portfolio Value
$1.3B (Q4 2025)
SEC Filing
0001172661-26-000541 ↗ filed Feb 9, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $945.0M Q1 2024 Q2 2024: $947.2M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $1.0B Q4 2024 Q1 2025: $990.0M Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.3B $1.3B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 114 stocks · $1.3B
GLD SPDR Gold Shares 15.16% 504,433 $199.9M Add +3.4%
IAU iShares Gold Trust 10.82% 1,757,254 $142.6M No change
GOOGL Alphabet Inc. Class A 4.45% 187,557 $58.7M Reduce -15.1%
COHR Coherent Corp. 3.80% 271,531 $50.1M Reduce -18.3%
VRT Vertiv Holdings Co. Class A 3.36% 273,385 $44.3M Reduce -6.6%
LITE Lumentum Holdings Inc. 3.30% 118,111 $43.5M Reduce -43.2%
AVGO Broadcom Inc. 2.75% 104,690 $36.2M Reduce -14.5%
T AT&T Inc. 2.46% 1,306,312 $32.4M Add +3.6%
KD Kyndryl Holdings Inc. 2.41% 1,198,424 $31.8M Add +18.6%
RTX RTX Corp. 2.16% 155,038 $28.4M No change
SLM SLM Corp. 2.12% 1,034,072 $28.0M Add +8.2%
CSCO Cisco Systems Inc. 2.04% 348,565 $26.8M No change
PFE Pfizer Inc. 1.81% 959,797 $23.9M Add +23.6%
BABA Alibaba Group Holding-SP ADR 1.68% 150,736 $22.1M No change
BMY Bristol-Myers Squibb Co. 1.60% 391,005 $21.1M No change
UNH Unitedhealth Group Inc. 1.59% 63,310 $20.9M Reduce -12.6%
GM General Motors Co. 1.58% 256,537 $20.9M No change
UBER Uber Technologies Inc. 1.52% 245,934 $20.1M No change
GBDC Golub Capital BDC Inc. 1.51% 1,470,089 $19.9M Add +0.5%
VTRS Viatris Inc. 1.47% 1,561,611 $19.4M Reduce -0.3%
EG Everest Group Ltd. 1.45% 56,338 $19.1M No change
MRVL Marvell Technology Inc. 1.41% 218,237 $18.5M No change
VZ Verizon Communications Inc. 1.39% 450,251 $18.3M Add +9.1%
SONY Sony Group Corp. - SP ADR 1.38% 709,663 $18.2M No change
SW Smurfit Westrock PLC 1.36% 462,368 $17.9M Add +30.9%
XPO Xpo Inc. 1.35% 131,100 $17.8M No change
BRK.B Berkshire Hathaway Inc. Class B 1.33% 34,941 $17.6M No change
ONON On Holding AG Class A filed as ON HLDG AG 1.23% 349,000 $16.2M No change
AXTA Axalta Coating Systems Ltd. 1.23% 500,700 $16.2M Add +111.8%
PYPL PayPal Holdings Inc. 1.13% 255,033 $14.9M Add +52.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.12% 268,942 $14.8M No change
DAR Darling Ingredients Inc. 0.98% 359,898 $13.0M No change
ADT Adt Inc. 0.96% 1,571,521 $12.7M No change
BAX Baxter International Inc. 0.91% 629,267 $12.0M New
DXC DXC Technology Co. 0.89% 801,475 $11.7M Add +1.4%
MQ Marqeta Inc. 0.86% 2,378,523 $11.3M No change
SLV iShares Silver Trust 0.83% 169,060 $10.9M No change
BIO Bio-Rad Laboratories-A 0.80% 34,784 $10.5M No change
CWAN Clearwater Analytics HDS-A 0.63% 346,510 $8.4M New
AAPL Apple Inc. 0.61% 29,724 $8.1M Reduce -12.0%
ST Sensata Technologies Holdplc 0.60% 238,074 $7.9M No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.59% 38,377 $7.7M No change
NTR Nutrien Ltd. 0.40% 84,595 $5.2M No change
CTSH Cognizant Tech Solutions-A 0.38% 59,866 $5.0M No change
MRK Merck & Co. Inc. 0.37% 46,498 $4.9M Add +1.1%
REGN Regeneron Pharmaceuticals 0.36% 6,228 $4.8M No change
BLK BlackRock Inc. 0.35% 4,253 $4.6M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.32% 41,366 $4.2M No change
AMZN Amazon.com Inc. 0.30% 17,285 $4.0M Reduce -21.8%
MDT Medtronic PLC 0.29% 39,819 $3.8M No change
BDX Becton Dickinson and Co. 0.26% 17,787 $3.5M No change
TSN Tyson Foods Inc. Class A 0.26% 58,307 $3.4M No change
TXN Texas Instruments Inc. 0.26% 19,387 $3.4M No change
CVX Chevron Corp. 0.25% 21,921 $3.3M No change
PEP Pepsico Inc. 0.25% 23,222 $3.3M No change
GILD Gilead Sciences Inc. 0.21% 22,952 $2.8M No change
EOG EOG Resources Inc. 0.21% 26,474 $2.8M No change
ELV Elevance Health Inc. 0.21% 7,899 $2.8M No change
OCSL Oaktree Specialty Lending Co. 0.20% 209,845 $2.7M Add +16.7%
LIN Linde PLC 0.20% 6,147 $2.6M No change
LEN Lennar Corp. Class A 0.20% 25,113 $2.6M No change
WU Western Union Co. 0.19% 271,020 $2.5M No change
HSY The Hershey Co. 0.19% 13,480 $2.5M No change
KHC The Kraft Heinz Co. 0.18% 98,281 $2.4M No change
PSLV Sprott Physical Silver Trust 0.18% 99,500 $2.4M No change
RHI Robert Half Inc. 0.18% 85,491 $2.3M No change
XOM Exxon Mobil Corp. 0.17% 18,886 $2.3M No change
JNJ Johnson & Johnson 0.17% 10,958 $2.3M No change
RSP Invesco S&P 500 Equal Weight 0.16% 11,300 $2.2M New
GOOG Alphabet Inc. Class C 0.16% 6,670 $2.1M No change
META Meta Platforms Inc. Class A 0.16% 3,124 $2.1M No change
RH RH 0.15% 11,120 $2.0M Add +456.0%
UPS United Parcel Service Class B 0.14% 18,370 $1.8M No change
NVS Novartis AG-Sponsored ADR 0.13% 12,636 $1.7M No change
LOW Lowe's Cos Inc. 0.13% 7,065 $1.7M No change
PM Philip Morris International 0.12% 10,000 $1.6M No change
LW Lamb Weston Holdings Inc. 0.12% 38,217 $1.6M Add +710.2%
WMT Walmart Inc. 0.10% 11,700 $1.3M Reduce -2.5%
GNTX Gentex Corp. 0.10% 56,000 $1.3M No change
L Loews Corp. 0.10% 12,000 $1.3M No change
PHYS Sprott Physical Gold Trust 0.09% 36,486 $1.2M Reduce -29.1%
MSFT Microsoft Corp. 0.08% 2,250 $1.1M No change
WHR Whirlpool Corp. 0.08% 14,200 $1.0M No change
USB US Bancorp 0.07% 17,530 $935K No change
LBTYK Liberty Global Ltd. Class C 0.07% 81,677 $902K No change
INTC Intel Corp. 0.07% 23,715 $875K No change
MO Altria Group Inc. 0.07% 15,000 $865K No change
ZBH Zimmer Biomet Holdings Inc. 0.06% 9,190 $826K No change
JPM JPMorgan Chase & Co. 0.06% 2,492 $803K No change
ETHO Amplify Etho Climate Leaders 0.06% 11,610 $758K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 2,156 $639K No change
OGN Organon & Co. 0.04% 77,030 $552K Reduce -5.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 4,464 $508K No change
JEF Jefferies Financial Group Inc. 0.04% 8,000 $496K No change
ISRG Intuitive Surgical Inc. 0.03% 800 $453K No change
GF The New Germany Fund Inc. 0.03% 32,643 $373K No change
MDLZ Mondelez International Inc. Class A 0.03% 6,920 $373K No change
TEL Te Connectivity PLC 0.03% 1,500 $341K No change
STZ Constellation Brands Inc. Class A 0.03% 2,400 $331K No change
UNM Unum Group 0.02% 4,000 $310K No change
MYN BlackRock Muniyield NY QLTY 0.02% 31,265 $310K Add +19.0%
FLG Flagstar Bank NA 0.02% 23,332 $294K No change
LBTYA Liberty Global Ltd. Class A 0.02% 25,560 $285K No change
CAG Conagra Brands Inc. 0.02% 15,762 $273K No change
FNV Franco-Nevada Corp. 0.02% 1,200 $249K No change
HRB H&R Block Inc. filed as BLOCK H & R INC 0.02% 5,600 $244K No change
WMB Williams Cos Inc. 0.02% 3,472 $209K No change
CHD Church & Dwight Co. Inc. 0.02% 2,400 $201K No change
VTS Vitesse Energy Inc. 0.02% 10,333 $199K No change
REAL The Realreal Inc. filed as THE REALREAL INC 0.01% 10,000 $158K Reduce -68.8%
SRTA Strata Critical Medical Inc. 0.01% 30,000 $144K No change
LILAK Liberty Latin Americ Class C 0.01% 13,690 $102K No change
BARK Bark Inc. 0.01% 164,270 $99K No change
BIRD Smartbird Inc. filed as ALLBIRDS INC 0.00% 13,070 $54K No change

Portfolio Sells Q3 2025 → Q4 2025
AVGO Broadcom Inc. Reduce -14.5% 2.75% −0.63
UNH Unitedhealth Group Inc. Reduce -12.6% 1.59% −0.51
VRT Vertiv Holdings Co. Class A Reduce -6.6% 3.36% −0.33
AAPL Apple Inc. Reduce -12.0% 0.61% −0.11
AMZN Amazon.com Inc. Reduce -21.8% 0.30% −0.10
NE Noble Corp. PLC Sold out 0.00% −0.10
SMRT Smartrent Inc. Sold out 0.00% −0.05
GOOGL Alphabet Inc. Class A Reduce -15.1% 4.45% −0.04
PHYS Sprott Physical Gold Trust Reduce -29.1% 0.09% −0.04
OGN Organon & Co. Reduce -5.5% 0.04% −0.03
ORCL Oracle Corp. Sold out 0.00% −0.02
DKS Dick's Sporting Goods Inc. Sold out 0.00% −0.02
REAL The Realreal Inc. Reduce -68.8% 0.01% −0.02
CTO Cto Realty Growth Inc. Sold out 0.00% −0.01
WMT Walmart Inc. Reduce -2.5% 0.10% −0.00
VTRS Viatris Inc. Reduce -0.3% 1.47% +0.18
LITE Lumentum Holdings Inc. Reduce -43.2% 3.30% +0.47
COHR Coherent Corp. Reduce -18.3% 3.80% +0.81

Portfolio Buys Q3 2025 → Q4 2025
BAX Baxter International Inc. New 0.91% +0.91
AXTA Axalta Coating Systems Ltd. Add +111.8% 1.23% +0.66
GLD SPDR Gold Shares Add +3.4% 15.16% +0.66
CWAN Clearwater Analytics HDS-A New 0.63% +0.63
PYPL PayPal Holdings Inc. Add +52.9% 1.13% +0.19
RSP Invesco S&P 500 Equal Weight New 0.16% +0.16
PFE Pfizer Inc. Add +23.6% 1.81% +0.16
RH RH Add +456.0% 0.15% +0.12
SW Smurfit Westrock PLC Add +30.9% 1.36% +0.11
LW Lamb Weston Holdings Inc. Add +710.2% 0.12% +0.10
MRK Merck & Co. Inc. Add +1.1% 0.37% +0.05
OCSL Oaktree Specialty Lending Co. Add +16.7% 0.20% +0.01
MYN BlackRock Muniyield NY QLTY Add +19.0% 0.02% +0.00
DXC DXC Technology Co. Add +1.4% 0.89% −0.01
SLM SLM Corp. Add +8.2% 2.12% −0.09
KD Kyndryl Holdings Inc. Add +18.6% 2.41% −0.12
VZ Verizon Communications Inc. Add +9.1% 1.39% −0.13
GBDC Golub Capital BDC Inc. Add +0.5% 1.51% −0.16
T AT&T Inc. Add +3.6% 2.46% −0.52

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 112$1.4BGLD, IAU, COHR, VRT, GOOGL
Q1 2026 116$1.4BGLD, IAU, LITE, COHR, VRT
Q4 2025 114$1.3BGLD, IAU, GOOGL, COHR, VRT
Q3 2025 116$1.2BGLD, IAU, GOOGL, VRT, AVGO
Q2 2025 119$1.1BGLD, IAU, VRT, GOOGL, T
Q1 2025 115$990.0MGLD, IAU, T, GOOGL, SLM
Q4 2024 117$1.0BGLD, IAU, GOOGL, T, AVGO
Q3 2024 111$1.0BGLD, IAU, GOOGL, T, COHR
Q2 2024 119$947.2MGLD, IAU, GOOGL, T, COHR
Q1 2024 120$945.0MGLD, IAU, GOOGL, T, SLM