Baer Investment Advisory LLC In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Baer Investment Advisory LLC reported 24 stock positions worth $61.2 million . Its top holding was Amazon.com (AMZN) at 8.6% of the portfolio, followed by Amphenol Class A (APH, 7.5% ) and Veeva Systems Class A (VEEV, 6.5% ). Compared with Q1 2025, it opened 2 new positions, sold out of 3, added to 5 and reduced 16. The biggest buy was Amphenol Class A (APH, shares +2% ) and the biggest sale Nvidia (NVDA, shares −9% ).
Location CORTE MADERA, CA
CIK 0002057153
Portfolio Value $61.2M (Q2 2025) Holdings 24 stocks · $61.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 AMZN Amazon.com Inc. 25,587 $5.3M Reduce -0.2% APH Amphenol Corp. Class A 50,727 $4.6M Add +1.5% VEEV Veeva Systems Inc. Class A 14,341 $4.0M Reduce -4.0% EME Emcor Group Inc. 8,143 $3.8M Reduce -2.0% CSGP Costar Group Inc. 49,369 $3.6M Reduce -6.5% INTU Intuit Inc. 4,587 $3.5M Reduce -5.2% DE Deere & Co. 6,213 $3.2M Reduce -2.1% CDNS Cadence Design SYS Inc. 10,627 $3.1M Add +9.6% APD Air Products & Chemicals Inc. 11,035 $3.1M Reduce -3.2% ZTS Zoetis Inc. 18,021 $3.1M Add +39.1% AAPL Apple Inc. 13,095 $2.6M Reduce -1.2% COST Costco Wholesale Corp. 2,347 $2.5M Reduce -3.1% NVDA Nvidia Corp. 17,328 $2.4M Reduce -9.0% NFLX Netflix Inc. 1,943 $2.4M Reduce -6.0% URI United Rentals Inc. 3,081 $2.1M Reduce -3.8% HD Home Depot Inc. 5,644 $2.1M Reduce -1.9% TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 27,730 $2.1M Add +2815.9% EPD Enterprise Products Partners 64,667 $2.0M Add +47.4% MSFT Microsoft Corp. 3,935 $1.8M Reduce -2.2% TMO Thermo Fisher Scientific Inc. 3,488 $1.4M Reduce -3.5% ECL Ecolab Inc. 4,561 $1.2M New TXN Texas Instruments Inc. 5,261 $969K New ADI Analog Devices Inc. 17,178 $370K Reduce -0.8% SNAP Snap Inc. Class A 10,000 $82K No change
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ NVDA Nvidia Corp. Reduce -9.0% 3.89% −5.93 SHOP Shopify Inc. Class A Sold out 0.00% −4.00 ADI Analog Devices Inc. Reduce -0.8% 0.60% −3.86 TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −3.30 NFLX Netflix Inc. Reduce -6.0% 3.87% −1.78 MSFT Microsoft Corp. Reduce -2.2% 2.97% −1.63 QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.94 CSGP Costar Group Inc. Reduce -6.5% 5.91% −0.48 TMO Thermo Fisher Scientific Inc. Reduce -3.5% 2.26% −0.47 AAPL Apple Inc. Reduce -1.2% 4.32% −0.26 COST Costco Wholesale Corp. Reduce -3.1% 4.05% −0.18 URI United Rentals Inc. Reduce -3.8% 3.48% −0.10 APD Air Products & Chemicals Inc. Reduce -3.2% 5.03% +0.16 HD Home Depot Inc. Reduce -1.9% 3.39% +0.65 DE Deere & Co. Reduce -2.1% 5.16% +0.85 INTU Intuit Inc. Reduce -5.2% 5.73% +1.30 AMZN Amazon.com Inc. Reduce -0.2% 8.64% +1.69 VEEV Veeva Systems Inc. Class A Reduce -4.0% 6.53% +1.83 EME Emcor Group Inc. Reduce -2.0% 6.25% +2.21
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ APH Amphenol Corp. Class A Add +1.5% 7.49% +3.20 TTD Trade Desk Inc./the Class A Add +2815.9% 3.39% +2.66 ZTS Zoetis Inc. Add +39.1% 4.99% +2.28 ECL Ecolab Inc. New 1.98% +1.98 TXN Texas Instruments Inc. New 1.58% +1.58 EPD Enterprise Products Partners Add +47.4% 3.28% +1.34 CDNS Cadence Design SYS Inc. Add +9.6% 5.08% +1.18
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ NVDA Nvidia Corp. call New 0 $7.2M MSFT Microsoft Corp. call New 0 $4.0M TSM Taiwan Semiconductor-SP ADR call New 0 $3.8M NFLX Netflix Inc. call New 0 $3.3M SHOPIFY INC (SHOPCN 0.125 11/01/25) call New 0 $1.7M TTD Trade Desk Inc./the Class A call New 0 $1.6M URI United Rentals Inc. call New 0 $996K INTU Intuit Inc. call New 0 $770K CSGP Costar Group Inc. call New 0 $558K AMZN Amazon.com Inc. call New 0 $552K CDNS Cadence Design SYS Inc. call New 0 $516K TMO Thermo Fisher Scientific Inc. call New 0 $435K AAPL Apple Inc. call New 0 $403K DE Deere & Co. call New 0 $344K VEEV Veeva Systems Inc. Class A call New 0 $336K APD Air Products & Chemicals Inc. call New 0 $307K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 25 $82.5M VEEV, AMZN, CW, DE, RACE Q1 2026 Amended 23 $70.4M AMZN, CW, EME, DE, RACE Q4 2025 23 $71.7M APH, AMZN, EME, ADI, INTU Q3 2025 25 $79.9M APH, AMZN, EME, INTU, VEEV Q2 2025 Amended 24 $61.2M AMZN, APH, VEEV, EME, CSGP Q1 2025 25 $77.3M NVDA, AMZN, CSGP, NFLX, APD Q4 2024 24 $92.8M ITOT, QQQ, AMZN, TSM, AAPL