Brave Asset Management Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 14, 2025), Brave Asset Management Inc. reported 159 stock positions worth $314.5 million. Its top holding was SS Technology Select Sector (XLK) at 9.5% of the portfolio, followed by iShares MSCI Eafe Value ETF (EFV, 7.8%) and Apple (AAPL, 7.3%). Compared with Q3 2024, it opened 13 new positions, sold out of 16, added to 18 and reduced 50. The biggest buy was Ziff Davis (ZD, shares +4%) and the biggest sale an exit from iShares Core U.S. Aggregate (AGG).

Most Recent 13F
Q2 2026
Location
Summit, NJ
CIK
0001085867
Portfolio Value
$314.5M (Q4 2024)
SEC Filing
0001172661-25-000182 ↗ filed Jan 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $385.2M Q1 2024 Q2 2024: $392.5M Q2 2024 Q3 2024: $402.6M Q3 2024 Q4 2024: $314.5M $314.5M Q4 2024 Q1 2025: $318.1M Q1 2025 Q2 2025: $367.2M Q2 2025 Q3 2025: $409.4M Q3 2025 Q4 2025: $423.9M Q4 2025 Q1 2026: $420.8M Q1 2026 Q2 2026: $467.5M Q2 2026

Holdings 159 stocks · $314.5M
XLK SS Technology Select Sector 9.46% 127,875 $29.7M Reduce -2.4%
EFV iShares MSCI Eafe Value ETF 7.77% 465,833 $24.4M Add +0.8%
AAPL Apple Inc. 7.26% 91,205 $22.8M Reduce -1.2%
SPY SS SPDR S&P 500 ETF Trust-US 6.42% 34,465 $20.2M Reduce -1.7%
ZD Ziff Davis Inc. 6.28% 363,527 $19.8M Add +3.9%
VOO Vanguard S&P 500 ETF 5.68% 33,176 $17.9M Reduce -1.1%
XLV SS Health Care Select Sector 5.50% 125,769 $17.3M Reduce -0.1%
MSFT Microsoft Corp. 5.17% 38,565 $16.3M Reduce -3.9%
GOOG Alphabet Inc. Class C 3.96% 65,445 $12.5M Reduce -1.9%
JPM JPMorgan Chase & Co. 3.71% 48,655 $11.7M Reduce -1.4%
AMZN Amazon.com Inc. 3.23% 46,246 $10.1M Reduce -3.1%
IAU iShares Gold Trust 2.45% 155,843 $7.7M Reduce -70.4%
XLY SS Consumer Disc Select Sect 2.41% 33,790 $7.6M Reduce -1.4%
XLP SS Consumer Staples Sel Sect 1.76% 70,207 $5.5M Reduce -0.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.60% 66,567 $5.0M Reduce -1.0%
AXP American Express Co. 1.51% 16,009 $4.8M No change
BRK.B Berkshire Hathaway Inc. Class B 0.97% 6,729 $3.1M Add +1.6%
IVE iShares S&P 500 Value ETF 0.81% 13,378 $2.6M No change
GOOGL Alphabet Inc. Class A 0.76% 12,674 $2.4M Reduce -1.6%
BX Blackstone Inc. 0.68% 12,419 $2.1M No change
VEU Vanguard Ftse All-World Ex-U 0.62% 34,213 $2.0M Add +54.6%
NVDA Nvidia Corp. 0.61% 14,270 $1.9M Reduce -2.0%
WTM White Mountains Insurance GP 0.57% 924 $1.8M No change
NOC Northrop Grumman Corp. 0.57% 3,798 $1.8M Reduce -1.0%
GS Goldman Sachs Group Inc. 0.54% 2,947 $1.7M Reduce -19.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.52% 7,479 $1.6M No change
GLW Corning Inc. 0.52% 34,500 $1.6M No change
ALL Allstate Corp. 0.48% 7,865 $1.5M No change
KO The Coca-Cola Co. 0.48% 24,288 $1.5M Reduce -0.3%
PFF iShares Preferred & Income S 0.45% 45,414 $1.4M No change
LLY Eli Lilly & Co. 0.45% 1,848 $1.4M Reduce -1.6%
JNJ Johnson & Johnson 0.44% 9,512 $1.4M Reduce -5.7%
MRK Merck & Co. Inc. 0.44% 13,755 $1.4M Reduce -5.7%
APO Apollo Global Management Inc. 0.41% 7,778 $1.3M No change
PG The Procter & Gamble Co. 0.41% 7,649 $1.3M Reduce -2.6%
YUM Yum! Brands Inc. 0.37% 8,733 $1.2M No change
CSCO Cisco Systems Inc. 0.35% 18,509 $1.1M No change
VTV Vanguard Mrngstr Val ETF-Aui 0.34% 6,376 $1.1M Add +0.8%
ADBE Adobe Inc. 0.30% 2,099 $933K No change
HON Honeywell International Inc. 0.29% 4,095 $925K Reduce -6.8%
MA Mastercard Inc. Class A 0.29% 1,722 $907K Reduce -1.1%
MMM 3M Co. 0.28% 6,870 $887K Reduce -4.0%
ORCL Oracle Corp. 0.28% 5,259 $876K No change
VZ Verizon Communications Inc. 0.28% 21,823 $873K Reduce -2.6%
RDNT Radnet Inc. 0.26% 11,791 $823K No change
MET Metlife Inc. 0.26% 9,950 $815K No change
HD Home Depot Inc. 0.25% 2,001 $778K No change
AMGN Amgen Inc. 0.24% 2,955 $770K No change
MKL Markel Group Inc. 0.24% 439 $758K No change
ADP Automatic Data Processing 0.24% 2,583 $756K Reduce -13.1%
LOW Lowe's Cos Inc. 0.24% 3,045 $752K No change
XOM Exxon Mobil Corp. 0.23% 6,809 $732K Reduce -6.0%
TXN Texas Instruments Inc. 0.23% 3,862 $724K No change
MCO Moody's Corp. 0.22% 1,463 $693K No change
KMI Kinder Morgan Inc. 0.22% 25,000 $685K Reduce -16.4%
CSX CSX Corp. 0.21% 20,928 $675K No change
TRV The Travelers Cos Inc. 0.21% 2,780 $670K No change
PFE Pfizer Inc. 0.21% 24,418 $648K Reduce -6.8%
C Citigroup Inc. 0.20% 9,024 $635K No change
ABT Abbott Laboratories 0.20% 5,594 $633K Reduce -4.6%
ET Energy Transfer LP 0.20% 32,178 $630K No change
TXT Textron Inc. 0.20% 8,100 $620K Reduce -1.2%
EMR Emerson Electric Co. 0.20% 4,966 $615K Reduce -6.8%
TPL Texas Pacific Land Corp. 0.19% 537 $594K Add +87.1%
CVX Chevron Corp. 0.18% 3,939 $571K No change
XLF SS Financial Select Sector 0.17% 11,378 $550K Add +9.7%
FLR Fluor Corp. 0.17% 11,012 $543K No change
COP Conocophillips 0.17% 5,309 $526K Add +0.4%
DE Deere & Co. 0.16% 1,223 $518K No change
META Meta Platforms Inc. Class A 0.16% 868 $508K Add +9.3%
WAT Waters Corp. 0.16% 1,366 $507K No change
HIG Hartford Insurance Group Inc. 0.16% 4,587 $502K Reduce -2.1%
T AT&T Inc. 0.15% 20,693 $471K Reduce -15.9%
ITW Illinois Tool Works 0.15% 1,843 $467K Reduce -13.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.14% 10,375 $456K No change
VLO Valero Energy Corp. 0.14% 3,705 $454K No change
ABBV Abbvie Inc. 0.14% 2,472 $439K Reduce -9.8%
VGSH Vanguard Short-Term Treasury 0.14% 7,343 $427K New
CACC Credit Acceptance Corp. 0.13% 891 $418K No change
GLD SPDR Gold Shares 0.13% 1,722 $417K No change
WMS Advanced Drainage Systems Inc. 0.13% 3,600 $416K No change
ROP Roper Technologies Inc. 0.13% 773 $402K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.13% 3,591 $400K Add +6.2%
BND Vanguard Total Bond Market 0.13% 5,534 $398K Add +4.1%
BMY Bristol-Myers Squibb Co. 0.12% 6,400 $362K No change
CR Crane Co. 0.11% 2,355 $357K No change
ACN Accenture PLC Class A 0.11% 1,009 $355K No change
PH Parker Hannifin Corp. 0.11% 553 $352K No change
FLNG Flex LNG Ltd. 0.11% 15,300 $351K Reduce -2.5%
EQT Eqt Corp. 0.11% 7,400 $341K No change
DOW Dow Inc. 0.11% 8,415 $338K Reduce -2.6%
ESGR Enstar Group Ltd. 0.11% 1,040 $335K No change
DVN Devon Energy Corp. 0.11% 10,200 $334K Reduce -3.8%
OXY Occidental Petroleum Corp. 0.10% 6,524 $322K Add +50.9%
NFLX Netflix Inc. 0.10% 358 $319K Add +8.8%
IWF iShares Russell 1000 Growth 0.10% 752 $302K No change
SHEL Shell PLC-ADR 0.10% 4,800 $301K No change
EFIV SS SPDR S&P 500 ESG ETF 0.10% 5,299 $299K No change
HII Huntington Ingalls Industrie 0.10% 1,583 $299K No change
CRS Carpenter Technology 0.10% 1,760 $299K No change

Show all 159 holdings

Options reported separately and not counted above: KWEB calls ($392K), INTC calls ($100K), CRSP calls ($98K).

Other holdings (3): bonds, preferreds, convertibles and warrants · $17K (not counted above)
SecurityClassShares / PrincipalValueChange
ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 10,000$15KNo change
LUCYW Innovative Eyewear Inc.-CW23 *W EXP 08/16/202 31,388$1KNo change
RBOT.WS Vicarious Surgical Inc.-CW27 *W EXP 09/17/202 25,000$613No change

Total filed on the 13F, all lines: $314.5M.

Portfolio Sells Q3 2024 → Q4 2024
AGG iShares Core U.S. Aggregate Sold out 0.00% −17.85
IAU iShares Gold Trust Reduce -70.4% 2.45% −4.05
XNEAX Nuveen Amt-FR QLTY Muni Inc. Sold out 0.00% −0.16
WMT Walmart Inc. Sold out 0.00% −0.07
REGN Regeneron Pharmaceuticals Sold out 0.00% −0.07
FLEX Flex Ltd. Sold out 0.00% −0.07
PEP Pepsico Inc. Sold out 0.00% −0.06
SYY Sysco Corp. Sold out 0.00% −0.06
RS Reliance Inc. Sold out 0.00% −0.05
HTZ Hertz Global Hldgs Inc. Sold out 0.00% −0.03
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.03
FCX Freeport-McMoran Inc. Sold out 0.00% −0.02
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.02
ALT Altimmune Inc. Sold out 0.00% −0.02
DOW Dow Inc. Reduce -2.6% 0.11% −0.01
LEVGQ The Lion Electric Co. Sold out 0.00% −0.01
EDIT Editas Medicine Inc. Reduce -6.8% 0.00% −0.01
LUMINAR TECHNOLOGIES INC Sold out 0.00% −0.00
AMLIF American Lithium Corp. Sold out 0.00% −0.00
ORIGIN MATERIALS INC Reduce -5.6% 0.01% +0.00
DLTH Duluth Holdings Inc. Class B Reduce -3.5% 0.03% +0.00
DVN Devon Energy Corp. Reduce -3.8% 0.11% +0.00
WFC Wells Fargo & Co. Reduce -33.5% 0.07% +0.00
QCOM Qualcomm Inc. Reduce -6.8% 0.07% +0.00
ABBV Abbvie Inc. Reduce -9.8% 0.14% +0.01
HYT BlackRock Corp. Hi YLD Reduce -8.3% 0.07% +0.01
SJM The JM Smucker Co. Reduce -4.3% 0.09% +0.01
ITW Illinois Tool Works Reduce -13.1% 0.15% +0.01
XLE SS Energy Select Sector Reduce -2.0% 0.07% +0.01
FLNG Flex LNG Ltd. Reduce -2.5% 0.11% +0.01
T AT&T Inc. Reduce -15.9% 0.15% +0.02
TXT Textron Inc. Reduce -1.2% 0.20% +0.02
PFE Pfizer Inc. Reduce -6.8% 0.21% +0.02
MVST Microvast Holdings Inc. Reduce -33.3% 0.02% +0.02
V Visa Inc. Class A Reduce -3.4% 0.07% +0.02
XOM Exxon Mobil Corp. Reduce -6.0% 0.23% +0.02
HIG Hartford Insurance Group Inc. Reduce -2.1% 0.16% +0.02
MRK Merck & Co. Inc. Reduce -5.7% 0.44% +0.02
VZ Verizon Communications Inc. Reduce -2.6% 0.28% +0.03
JNJ Johnson & Johnson Reduce -5.7% 0.44% +0.03
ABT Abbott Laboratories Reduce -4.6% 0.20% +0.04
ADP Automatic Data Processing Reduce -13.1% 0.24% +0.04
MMM 3M Co. Reduce -4.0% 0.28% +0.04
LLY Eli Lilly & Co. Reduce -1.6% 0.45% +0.04
KO The Coca-Cola Co. Reduce -0.3% 0.48% +0.05
EMR Emerson Electric Co. Reduce -6.8% 0.20% +0.05
KMI Kinder Morgan Inc. Reduce -16.4% 0.22% +0.05
NOC Northrop Grumman Corp. Reduce -1.0% 0.57% +0.06
HON Honeywell International Inc. Reduce -6.8% 0.29% +0.07
PG The Procter & Gamble Co. Reduce -2.6% 0.41% +0.07

Portfolio Buys Q3 2024 → Q4 2024
ZD Ziff Davis Inc. Add +3.9% 6.28% +2.05
EFV iShares MSCI Eafe Value ETF Add +0.8% 7.77% +1.17
VEU Vanguard Ftse All-World Ex-U Add +54.6% 0.62% +0.28
BRK.B Berkshire Hathaway Inc. Class B Add +1.6% 0.97% +0.21
VGSH Vanguard Short-Term Treasury New 0.14% +0.14
TPL Texas Pacific Land Corp. Add +87.1% 0.19% +0.13
TBT Proshares Ultrashort 20+Y TR New 0.08% +0.08
CRWD CrowdStrike Holdings Inc. Class A New 0.07% +0.07
GBTC Grayscale Bitcoin Trust ETF New 0.07% +0.07
SCHW Schwab (charles) Corp. New 0.07% +0.07
VTV Vanguard Mrngstr Val ETF-Aui Add +0.8% 0.34% +0.07
MS Morgan Stanley New 0.07% +0.07
BN Brookfield Corp. New 0.07% +0.07
LNG Cheniere Energy Inc. New 0.06% +0.06
WHR Whirlpool Corp. New 0.06% +0.06
XLF SS Financial Select Sector Add +9.7% 0.17% +0.06
INTC Intel Corp. Add +103.6% 0.09% +0.05
META Meta Platforms Inc. Class A Add +9.3% 0.16% +0.05
OXY Occidental Petroleum Corp. Add +50.9% 0.10% +0.05
DIS The Walt Disney Co. Add +6.2% 0.13% +0.05
NFLX Netflix Inc. Add +8.8% 0.10% +0.04
COP Conocophillips Add +0.4% 0.17% +0.03
SRFM Surf Air Mobility Inc. New 0.03% +0.03
BND Vanguard Total Bond Market Add +4.1% 0.13% +0.03
PYPL PayPal Holdings Inc. Add +5.3% 0.08% +0.02
SQQQ Proshares TR Add +26.7% 0.07% +0.02
URG Ur-Energy Inc. New 0.01% +0.01
UROY Uranium Royalty Corp. New 0.01% +0.01
RXRX Recursion Pharmaceuticals-A Add +14.3% 0.02% +0.01
CNTN Canton Strategic Holdings Inc. New 0.01% +0.01
XRX Xerox Holdings Corp. Add +0.8% 0.03% +0.00

Options Activity Q3 2024 → Q4 2024
QQQ Invesco QQQ Trust Series 1 put Sold out 12,300 $6.0Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 3,800 $2.2Mbefore exit
FCX Freeport-McMoran Inc. call Sold out 8,500 $424Kbefore exit
KWEB Kranesh Csi China Internet call Reduce -15.7% 13,400 $392K
CRSP Crispr Therapeutics AG call New 2,500 $98K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 144$467.5MEFV, XLK, AGG, ZD, AAPL
Q1 2026 154$420.8MEFV, AGG, XLK, AAPL, ZD
Q4 2025 164$423.9MEFV, XLK, AGG, AAPL, GOOG
Q3 2025 165$409.4MEFV, AGG, XLK, AAPL, MSFT
Q2 2025 162$367.2MEFV, AGG, XLK, MSFT, VOO
Q1 2025 157$318.1MEFV, XLK, SPY, AAPL, VOO
Q4 2024 159$314.5MXLK, EFV, AAPL, SPY, ZD
Q3 2024 162$402.6MAGG, XLK, EFV, IAU, AAPL
Q2 2024 157$392.5MAGG, XLK, QQQ, EFV, AAPL
Q1 2024 164$385.2MAGG, XLK, QQQ, EFV, ZD