Baker Ellis Asset Management LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 17, 2025), Baker Ellis Asset Management LLC reported 215 stock positions worth $679.6 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 10.4% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 4.5%) and Microsoft (MSFT, 3.5%). Compared with Q3 2024, it opened 4 new positions, sold out of 15, added to 57 and reduced 97. The biggest buy was VG Morningstar TS MKT ETF-US (VTI, shares +0%) and the biggest sale an exit from iShares Ibonds Dec 2024 Term (IBTE).
- Most Recent 13F
- Q2 2026
- Location
- Vancouver, WA
- CIK
- 0001365559
- Portfolio Value
- $679.6M (Q4 2024)
- SEC Filing
- 0001941040-25-000022 ↗ filed Jan 17, 2025
Holdings Value
Holdings 215 stocks · $679.6M
| VTI VG Morningstar TS MKT ETF-US | 10.42% | 244,261 | $70.8M | Add +0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.48% | 67,195 | $30.5M | Add +0.2% |
| MSFT Microsoft Corp. | 3.46% | 55,810 | $23.5M | Reduce -0.7% |
| VGT Vanguard Info Tech ETF | 3.16% | 34,546 | $21.5M | Reduce -1.7% |
| VYM Vanguard High DVD Yield ETF | 2.77% | 147,389 | $18.8M | Reduce -0.7% |
| VOO Vanguard S&P 500 ETF | 2.43% | 30,668 | $16.5M | Add +6.4% |
| FBND Fidelity Total Bond ETF | 1.97% | 297,983 | $13.4M | Add +1.7% |
| PRF Invesco Rafi US 1000 ETF | 1.95% | 329,038 | $13.3M | Add +1.5% |
| COST Costco Wholesale Corp. | 1.86% | 13,761 | $12.6M | Reduce -1.6% |
| JHMM John Hancock Multi Fact Mid | 1.85% | 210,573 | $12.6M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.83% | 51,870 | $12.4M | Reduce -0.2% |
| GSIE Goldman Sachs Activebeta Int | 1.71% | 349,006 | $11.6M | Add +2.2% |
| GBIL Goldman Sachs Access Treasur | 1.70% | 115,908 | $11.6M | Add +2.7% |
| MFUS PIMCO Rafi Dynamic Multi-Fac filed as PIMCO EQUITY SER | 1.69% | 231,578 | $11.5M | Add +7.4% |
| SCHD Schwab US DVD Equity ETF | 1.62% | 402,972 | $11.0M | Reduce -0.7% |
| AAPL Apple Inc. | 1.59% | 43,183 | $10.8M | Add +0.6% |
| AVGO Broadcom Inc. | 1.50% | 44,100 | $10.2M | Reduce -1.1% |
| DISV Dimensional International SM | 1.43% | 366,686 | $9.7M | Add +7.6% |
| STRL Sterling Infrastructure Inc. | 1.34% | 54,210 | $9.1M | Reduce -1.2% |
| LRCX Lam Research Corp. | 1.33% | 124,990 | $9.0M | Reduce -1.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.30% | 13 | $8.9M | No change |
| SGOV iShares 0-3 Month Treasury B | 1.30% | 88,118 | $8.8M | Reduce -7.1% |
| FISV Fiserv Inc. | 1.29% | 42,665 | $8.8M | Reduce -0.4% |
| IXUS iShares Core Intl Stock ETF | 1.26% | 129,661 | $8.6M | Add +5.4% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 1.22% | 39,093 | $8.3M | Add +2.0% |
| TAP Molson Coors Beverage Co. Class B | 1.22% | 144,822 | $8.3M | Add +8.7% |
| SYK Stryker Corp. | 1.15% | 21,694 | $7.8M | Reduce -1.5% |
| XOM Exxon Mobil Corp. | 1.08% | 68,181 | $7.3M | Add +0.1% |
| MAA Mid-America Apartment Comm | 1.00% | 43,998 | $6.8M | Add +2.6% |
| RTX RTX Corp. | 0.99% | 58,029 | $6.7M | Reduce -1.2% |
| CARR Carrier Global Corp. | 0.97% | 96,338 | $6.6M | Reduce -1.6% |
| DGS Wisdomtree Em Small Cap | 0.91% | 126,814 | $6.2M | Add +1.7% |
| GOOG Alphabet Inc. Class C | 0.91% | 32,373 | $6.2M | Reduce -1.0% |
| SKX Skechers USA Inc. Class A | 0.81% | 81,860 | $5.5M | Reduce -0.3% |
| ADI Analog Devices Inc. | 0.80% | 25,548 | $5.4M | Reduce -0.1% |
| DFS Discover Financial Services | 0.79% | 31,179 | $5.4M | Reduce -1.3% |
| PEP Pepsico Inc. | 0.78% | 35,016 | $5.3M | Reduce -2.8% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.76% | 107,503 | $5.1M | Add +3.0% |
| KGS Kodiak Gas Services Inc. | 0.73% | 121,726 | $5.0M | Add +1.4% |
| WY Weyerhaeuser Co. | 0.69% | 165,972 | $4.7M | Reduce -2.1% |
| NOC Northrop Grumman Corp. | 0.68% | 9,829 | $4.6M | Reduce -2.0% |
| GPK Graphic Packaging Holding Co. | 0.67% | 166,689 | $4.5M | Reduce -1.3% |
| ON On Semiconductor | 0.66% | 71,076 | $4.5M | Reduce -3.5% |
| TKR Timken Co. | 0.64% | 60,955 | $4.4M | Reduce -3.0% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.64% | 183,237 | $4.3M | Add +5.4% |
| VT Vanguard Tot World STK ETF | 0.64% | 36,809 | $4.3M | Reduce -0.3% |
| FBIN Fortune Brands Innovations I | 0.62% | 61,383 | $4.2M | Reduce -1.5% |
| SNY Sanofi-ADR | 0.62% | 86,908 | $4.2M | Reduce -5.7% |
| GOOGL Alphabet Inc. Class A | 0.61% | 22,025 | $4.2M | Add +4.1% |
| PNW Pinnacle West Capital | 0.61% | 48,829 | $4.1M | Add +1.2% |
| KR Kroger Co. | 0.59% | 65,952 | $4.0M | Reduce -4.4% |
| AMZN Amazon.com Inc. | 0.57% | 17,620 | $3.9M | Add +4.0% |
| HSIC Henry Schein Inc. | 0.56% | 55,196 | $3.8M | Reduce -1.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.56% | 6,502 | $3.8M | Add +0.4% |
| LPX Louisiana-Pacific Corp. | 0.56% | 36,575 | $3.8M | Reduce -1.1% |
| VXF Vanguard Extended Market ETF | 0.54% | 19,324 | $3.7M | No change |
| BP BP PLC-Spons ADR | 0.52% | 120,299 | $3.6M | Reduce -12.9% |
| FMX Fomento Economico Mex-SP ADR | 0.51% | 40,838 | $3.5M | Reduce -5.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.49% | 6,555 | $3.4M | Add +1.0% |
| RSP Invesco S&P 500 Equal Weight | 0.48% | 18,759 | $3.3M | Reduce -1.5% |
| OSK Oshkosh Corp. | 0.48% | 34,357 | $3.3M | Reduce -7.4% |
| KIM Kimco Realty Corp. | 0.45% | 131,928 | $3.1M | Add +0.8% |
| VHT Vanguard Health Care ETF | 0.45% | 12,027 | $3.1M | Reduce -1.6% |
| GLDM SPDR Gold Minishares Trust | 0.42% | 55,000 | $2.9M | Add +1.9% |
| BAX Baxter International Inc. | 0.39% | 89,815 | $2.6M | Reduce -16.4% |
| AGCO Agco Corp. | 0.38% | 27,454 | $2.6M | Reduce -32.6% |
| GS Goldman Sachs Group Inc. | 0.37% | 4,443 | $2.5M | Reduce -0.6% |
| UNP Union Pacific Corp. | 0.36% | 10,876 | $2.5M | Reduce -1.8% |
| VZ Verizon Communications Inc. | 0.36% | 60,513 | $2.4M | Reduce -16.6% |
| GTX Garrett Motion Inc. | 0.30% | 222,827 | $2.0M | Reduce -2.2% |
| VEU Vanguard Ftse All-World Ex-U | 0.29% | 34,246 | $2.0M | No change |
| REG Regency Centers Corp. | 0.29% | 26,572 | $2.0M | Add +0.1% |
| BCC Boise Cascade Co. | 0.29% | 16,380 | $1.9M | Reduce -0.6% |
| HON Honeywell International Inc. | 0.28% | 8,496 | $1.9M | Reduce -8.0% |
| GLD SPDR Gold Shares | 0.28% | 7,899 | $1.9M | Reduce -2.7% |
| VDE Vanguard Energy ETF | 0.27% | 15,330 | $1.9M | Add +4.1% |
| LH Labcorp Holdings Inc. | 0.26% | 7,845 | $1.8M | Reduce -3.6% |
| ADM Archer-Daniels-Midland Co. | 0.26% | 35,265 | $1.8M | Reduce -28.9% |
| HD Home Depot Inc. | 0.23% | 4,000 | $1.6M | Reduce -1.2% |
| V Visa Inc. Class A | 0.23% | 4,904 | $1.5M | Reduce -0.6% |
| WMT Walmart Inc. | 0.23% | 17,072 | $1.5M | Reduce -0.1% |
| IMKTA Ingles Markets Inc. Class A | 0.23% | 23,840 | $1.5M | Reduce -55.7% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.21% | 7,221 | $1.4M | No change |
| IWR iShares Russell Mid-Cap ETF | 0.21% | 16,076 | $1.4M | No change |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.20% | 26,300 | $1.3M | Add +66.5% |
| WM Waste Management Inc. | 0.19% | 6,506 | $1.3M | No change |
| MRK Merck & Co. Inc. | 0.19% | 12,928 | $1.3M | Add +7.0% |
| ABBV Abbvie Inc. | 0.19% | 7,193 | $1.3M | Reduce -2.0% |
| ITT Itt Inc. | 0.19% | 8,890 | $1.3M | Reduce -4.0% |
| TGT Target Corp. | 0.18% | 9,196 | $1.2M | Reduce -16.2% |
| UBS UBS Group AG-Reg | 0.18% | 39,900 | $1.2M | Reduce -4.1% |
| HII Huntington Ingalls Industrie | 0.18% | 6,390 | $1.2M | Reduce -41.1% |
| VPU Vanguard Utilities ETF | 0.16% | 6,800 | $1.1M | Reduce -2.9% |
| NVS Novartis AG-Sponsored ADR | 0.16% | 11,327 | $1.1M | Reduce -4.7% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.16% | 6,670 | $1.1M | No change |
| JNJ Johnson & Johnson | 0.16% | 7,411 | $1.1M | Reduce -3.8% |
| ANGL Vaneck Fallen Angel High YLD | 0.16% | 37,381 | $1.1M | Reduce -7.2% |
| SHEL Shell PLC-ADR | 0.16% | 17,000 | $1.1M | Add +2.4% |
| MATX Matson Inc. | 0.15% | 7,738 | $1.0M | No change |
| SHV iShares 0-1 Year Treasury Bo | 0.15% | 9,450 | $1.0M | Reduce -2.6% |
Portfolio Sells Q3 2024 → Q4 2024
| IBTE iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −1.17 |
| IMKTA Ingles Markets Inc. Class A | Reduce -55.7% | 0.23% | −0.34 |
| HII Huntington Ingalls Industrie | Reduce -41.1% | 0.18% | −0.23 |
| BAX Baxter International Inc. | Reduce -16.4% | 0.39% | −0.19 |
| AGCO Agco Corp. | Reduce -32.6% | 0.38% | −0.19 |
| FBIN Fortune Brands Innovations I | Reduce -1.5% | 0.62% | −0.17 |
| ADM Archer-Daniels-Midland Co. | Reduce -28.9% | 0.26% | −0.16 |
| CARR Carrier Global Corp. | Reduce -1.6% | 0.97% | −0.15 |
| LRCX Lam Research Corp. | Reduce -1.4% | 1.33% | −0.14 |
| SNY Sanofi-ADR | Reduce -5.7% | 0.62% | −0.14 |
| CVE Cenovus Energy Inc. | Reduce -80.6% | 0.03% | −0.13 |
| WY Weyerhaeuser Co. | Reduce -2.1% | 0.69% | −0.12 |
| TKR Timken Co. | Reduce -3.0% | 0.64% | −0.11 |
| IXC iShares Global Energy ETF | Reduce -47.0% | 0.11% | −0.11 |
| VZ Verizon Communications Inc. | Reduce -16.6% | 0.36% | −0.10 |
| ON On Semiconductor | Reduce -3.5% | 0.66% | −0.10 |
| BP BP PLC-Spons ADR | Reduce -12.9% | 0.52% | −0.09 |
| FMX Fomento Economico Mex-SP ADR | Reduce -5.5% | 0.51% | −0.09 |
| FMC FMC Corp. | Sold out | 0.00% | −0.09 |
| EQC Equity Commonwealth | Sold out | 0.00% | −0.09 |
| PEP Pepsico Inc. | Reduce -2.8% | 0.78% | −0.08 |
| NOC Northrop Grumman Corp. | Reduce -2.0% | 0.68% | −0.07 |
| TGT Target Corp. | Reduce -16.2% | 0.18% | −0.06 |
| OIH Vaneck Oil Services ETF | Sold out | 0.00% | −0.05 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -43.2% | 0.06% | −0.05 |
| SGOV iShares 0-3 Month Treasury B | Reduce -7.1% | 1.30% | −0.05 |
| SEB Seaboard Corp. | Sold out | 0.00% | −0.05 |
| OSK Oshkosh Corp. | Reduce -7.4% | 0.48% | −0.05 |
| BCC Boise Cascade Co. | Reduce -0.6% | 0.29% | −0.04 |
| GPK Graphic Packaging Holding Co. | Reduce -1.3% | 0.67% | −0.04 |
| EXPO Exponent Inc. | Reduce -14.6% | 0.09% | −0.04 |
| VHT Vanguard Health Care ETF | Reduce -1.6% | 0.45% | −0.04 |
| NKE Nike Inc. Class B | Reduce -11.9% | 0.14% | −0.04 |
| IMO Imperial Oil Ltd. | Reduce -47.3% | 0.04% | −0.04 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.04 |
| COP Conocophillips | Sold out | 0.00% | −0.04 |
| ADI Analog Devices Inc. | Reduce -0.1% | 0.80% | −0.03 |
| ANDE The Andersons Inc. | Sold out | 0.00% | −0.03 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.03 |
| NVS Novartis AG-Sponsored ADR | Reduce -4.7% | 0.16% | −0.03 |
| STLA Stellantis NV | Reduce -23.0% | 0.09% | −0.03 |
| VXUS Vanguard Total Intl Stock | Sold out | 0.00% | −0.03 |
| SDY SS SPDR S&P Dividend ETF | Sold out | 0.00% | −0.03 |
| INSW International Seaways Inc. | Sold out | 0.00% | −0.03 |
| WNC Wabash National Corp. | Sold out | 0.00% | −0.03 |
| TTE Totalenergies SE -Spon ADR | Reduce -10.8% | 0.10% | −0.03 |
| BALL Ball Corp. | Reduce -4.4% | 0.11% | −0.03 |
| ASC Ardmore Shipping Corp. | Sold out | 0.00% | −0.03 |
| ES Eversource Energy | Reduce -13.2% | 0.07% | −0.02 |
| UNP Union Pacific Corp. | Reduce -1.8% | 0.36% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| VTI VG Morningstar TS MKT ETF-US | Add +0.0% | 10.42% | +0.63 |
| VOO Vanguard S&P 500 ETF | Add +6.4% | 2.43% | +0.28 |
| KGS Kodiak Gas Services Inc. | Add +1.4% | 0.73% | +0.24 |
| AAPL Apple Inc. | Add +0.6% | 1.59% | +0.18 |
| MFUS PIMCO Rafi Dynamic Multi-Fac | Add +7.4% | 1.69% | +0.15 |
| TAP Molson Coors Beverage Co. Class B | Add +8.7% | 1.22% | +0.14 |
| AMZN Amazon.com Inc. | Add +4.0% | 0.57% | +0.12 |
| GOOGL Alphabet Inc. Class A | Add +4.1% | 0.61% | +0.12 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.2% | 4.48% | +0.11 |
| GBIL Goldman Sachs Access Treasur | Add +2.7% | 1.70% | +0.10 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +2.0% | 1.22% | +0.10 |
| PRF Invesco Rafi US 1000 ETF | Add +1.5% | 1.95% | +0.09 |
| JMST JPM Ultra-Short Muni Income | Add +66.5% | 0.20% | +0.08 |
| SLB SLB Ltd. | New | 0.07% | +0.07 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +5.4% | 0.64% | +0.05 |
| NWS News Corp. Class B | Add +30.0% | 0.15% | +0.05 |
| VSDM Vanguard Short Tax-Ex Bond | New | 0.05% | +0.05 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.0% | 0.49% | +0.04 |
| ISTB iShares Core 1-5 Year Usd Bo | Add +3.0% | 0.76% | +0.04 |
| MAA Mid-America Apartment Comm | Add +2.6% | 1.00% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.4% | 0.56% | +0.04 |
| ECL Ecolab Inc. | New | 0.03% | +0.03 |
| DISV Dimensional International SM | Add +7.6% | 1.43% | +0.03 |
| FBND Fidelity Total Bond ETF | Add +1.7% | 1.97% | +0.03 |
| KIM Kimco Realty Corp. | Add +0.8% | 0.45% | +0.02 |
| ETR Entergy Corp. | Add +0.8% | 0.14% | +0.02 |
| AVUV Avantis US Small Cap Value | Add +56.0% | 0.06% | +0.02 |
| GLDM SPDR Gold Minishares Trust | Add +1.9% | 0.42% | +0.02 |
| TJX TJX Companies Inc. | Add +39.8% | 0.07% | +0.02 |
| UDR Udr Inc. | Add +77.4% | 0.05% | +0.02 |
| BAC Bank of America Corp. | Add +8.2% | 0.09% | +0.02 |
| VDE Vanguard Energy ETF | Add +4.1% | 0.27% | +0.02 |
| REG Regency Centers Corp. | Add +0.1% | 0.29% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +26.2% | 0.07% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +43.4% | 0.06% | +0.01 |
| LCNB LCNB Corporation | Add +23.6% | 0.06% | +0.01 |
| LMNR Limoneira Co. | Add +15.4% | 0.13% | +0.01 |
| MRSH Marsh & McLennan Cos | Add +20.5% | 0.07% | +0.01 |
| ABEV Ambev SA-ADR | New | 0.01% | +0.01 |
| COR Cencora Inc. | Add +9.6% | 0.08% | +0.01 |
| CSCO Cisco Systems Inc. | Add +0.2% | 0.06% | +0.01 |
| CVX Chevron Corp. | Add +2.1% | 0.15% | +0.01 |
| STZ Constellation Brands Inc. Class A | Add +27.9% | 0.04% | +0.01 |
| PHYS Sprott Physical Gold Trust | Add +4.5% | 0.07% | +0.00 |
| PNW Pinnacle West Capital | Add +1.2% | 0.61% | +0.00 |
| SELF Global Self Storage Inc. | Add +20.0% | 0.02% | +0.00 |
| PG The Procter & Gamble Co. | Add +2.5% | 0.10% | +0.00 |
| ARCO Arcos Dorados Holdings Inc. Class A | Add +21.3% | 0.04% | +0.00 |
| AEM Agnico Eagle Mines Ltd. | Add +1.3% | 0.09% | +0.00 |
| SHEL Shell PLC-ADR | Add +2.4% | 0.16% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 265 | $964.1M | VTI, LRCX, STRL, BRK.B, VGT |
| Q1 2026 | 254 | $842.5M | VTI, BRK.B, LRCX, VGT, DISV |
| Q4 2025 | 260 | $831.0M | VTI, BRK.B, MSFT, VGT, DISV |
| Q3 2025 | 249 | $812.0M | VTI, BRK.B, MSFT, VGT, VYM |
| Q2 2025 | 216 | $728.6M | VTI, BRK.B, MSFT, VGT, VYM |
| Q1 2025 | 221 | $693.0M | VTI, BRK.B, MSFT, VYM, VGT |
| Q4 2024 | 215 | $679.6M | VTI, BRK.B, MSFT, VGT, VYM |
| Q3 2024 | 226 | $706.8M | VTI, BRK.B, MSFT, VGT, VYM |
| Q2 2024 | 210 | $663.7M | VTI, BRK.B, MSFT, VGT, VYM |
| Q1 2024 | 216 | $671.6M | VTI, BRK.B, MSFT, VYM, VGT |