Brave Asset Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 10, 2025), Brave Asset Management Inc. reported 157 stock positions worth $318.1 million. Its top holding was iShares MSCI Eafe Value ETF (EFV) at 8.7% of the portfolio, followed by SS Technology Select Sector (XLK, 8.7%) and SS SPDR S&P 500 ETF Trust-US (SPY, 8.5%). Compared with Q4 2024, it opened 5 new positions, sold out of 7, added to 26 and reduced 44. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +40%) and the biggest sale SS Health Care Select Sector (XLV, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- Summit, NJ
- CIK
- 0001085867
- Portfolio Value
- $318.1M (Q1 2025)
- SEC Filing
- 0001172661-25-001465 ↗ filed Apr 10, 2025
Holdings Value
Holdings 157 stocks · $318.1M
| EFV iShares MSCI Eafe Value ETF | 8.74% | 471,838 | $27.8M | Add +1.3% |
| XLK SS Technology Select Sector | 8.73% | 134,421 | $27.8M | Add +5.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 8.49% | 48,276 | $27.0M | Add +40.1% |
| AAPL Apple Inc. | 6.36% | 91,132 | $20.2M | Reduce -0.1% |
| VOO Vanguard S&P 500 ETF | 5.35% | 33,132 | $17.0M | Reduce -0.1% |
| ZD Ziff Davis Inc. | 4.80% | 406,495 | $15.3M | Add +11.8% |
| MSFT Microsoft Corp. | 4.56% | 38,647 | $14.5M | Add +0.2% |
| XLV SS Health Care Select Sector | 3.91% | 85,191 | $12.4M | Reduce -32.3% |
| JPM JPMorgan Chase & Co. | 3.75% | 48,663 | $11.9M | Add +0.0% |
| GOOG Alphabet Inc. Class C | 3.21% | 65,314 | $10.2M | Reduce -0.2% |
| IAU iShares Gold Trust | 2.87% | 154,706 | $9.1M | Reduce -0.7% |
| AMZN Amazon.com Inc. | 2.79% | 46,717 | $8.9M | Add +1.0% |
| VEU Vanguard Ftse All-World Ex-U | 2.65% | 138,980 | $8.4M | Add +306.2% |
| XLY SS Consumer Disc Select Sect | 2.10% | 33,860 | $6.7M | Add +0.2% |
| XLP SS Consumer Staples Sel Sect | 1.83% | 71,256 | $5.8M | Add +1.5% |
| XLF SS Financial Select Sector | 1.81% | 115,416 | $5.7M | Add +914.4% |
| AXP American Express Co. | 1.35% | 16,009 | $4.3M | No change |
| XLI SS Industrial Select Sector | 1.15% | 28,006 | $3.7M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 1.12% | 6,703 | $3.6M | Reduce -0.4% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.84% | 33,872 | $2.7M | Reduce -49.1% |
| IVE iShares S&P 500 Value ETF | 0.79% | 13,261 | $2.5M | Reduce -0.9% |
| GOOGL Alphabet Inc. Class A | 0.62% | 12,674 | $2.0M | No change |
| NOC Northrop Grumman Corp. | 0.61% | 3,798 | $1.9M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.58% | 7,479 | $1.9M | No change |
| WTM White Mountains Insurance GP | 0.56% | 924 | $1.8M | No change |
| NVDA Nvidia Corp. | 0.56% | 16,307 | $1.8M | Add +14.3% |
| BX Blackstone Inc. | 0.55% | 12,419 | $1.7M | No change |
| LLY Eli Lilly & Co. | 0.54% | 2,069 | $1.7M | Add +12.0% |
| KO The Coca-Cola Co. | 0.54% | 23,810 | $1.7M | Reduce -2.0% |
| ALL Allstate Corp. | 0.51% | 7,865 | $1.6M | No change |
| GS Goldman Sachs Group Inc. | 0.51% | 2,947 | $1.6M | No change |
| JNJ Johnson & Johnson | 0.50% | 9,512 | $1.6M | No change |
| GLW Corning Inc. | 0.49% | 34,250 | $1.6M | Reduce -0.7% |
| YUM Yum! Brands Inc. | 0.43% | 8,733 | $1.4M | No change |
| PFF iShares Preferred & Income S | 0.43% | 44,024 | $1.4M | Reduce -3.1% |
| PG The Procter & Gamble Co. | 0.40% | 7,449 | $1.3M | Reduce -2.6% |
| MRK Merck & Co. Inc. | 0.38% | 13,365 | $1.2M | Reduce -2.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.35% | 6,476 | $1.1M | Add +1.6% |
| CSCO Cisco Systems Inc. | 0.35% | 17,842 | $1.1M | Reduce -3.6% |
| APO Apollo Global Management Inc. | 0.33% | 7,778 | $1.1M | No change |
| MMM 3M Co. | 0.32% | 6,870 | $1.0M | No change |
| MA Mastercard Inc. Class A | 0.30% | 1,743 | $955K | Add +1.2% |
| VZ Verizon Communications Inc. | 0.30% | 20,700 | $939K | Reduce -5.2% |
| AMGN Amgen Inc. | 0.29% | 2,925 | $911K | Reduce -1.0% |
| HON Honeywell International Inc. | 0.27% | 4,095 | $867K | No change |
| MKL Markel Group Inc. | 0.26% | 439 | $821K | No change |
| XOM Exxon Mobil Corp. | 0.25% | 6,809 | $810K | No change |
| ADBE Adobe Inc. | 0.25% | 2,099 | $805K | No change |
| MET Metlife Inc. | 0.25% | 9,850 | $791K | Reduce -1.0% |
| HD Home Depot Inc. | 0.24% | 2,074 | $760K | Add +3.6% |
| ADP Automatic Data Processing | 0.24% | 2,473 | $756K | Reduce -4.3% |
| ABT Abbott Laboratories | 0.23% | 5,594 | $742K | No change |
| ORCL Oracle Corp. | 0.23% | 5,265 | $736K | Add +0.1% |
| TRV The Travelers Cos Inc. | 0.23% | 2,780 | $735K | No change |
| TPL Texas Pacific Land Corp. | 0.22% | 537 | $712K | No change |
| LOW Lowe's Cos Inc. | 0.22% | 3,045 | $710K | No change |
| TXN Texas Instruments Inc. | 0.22% | 3,862 | $694K | No change |
| MCO Moody's Corp. | 0.21% | 1,463 | $681K | No change |
| KMI Kinder Morgan Inc. | 0.21% | 23,500 | $670K | Reduce -6.0% |
| CVX Chevron Corp. | 0.21% | 3,939 | $659K | No change |
| C Citigroup Inc. | 0.20% | 9,024 | $641K | No change |
| CSX CSX Corp. | 0.19% | 20,928 | $616K | No change |
| RDNT Radnet Inc. | 0.18% | 11,791 | $586K | No change |
| TXT Textron Inc. | 0.18% | 8,000 | $578K | Reduce -1.2% |
| DE Deere & Co. | 0.18% | 1,223 | $574K | No change |
| T AT&T Inc. | 0.18% | 20,293 | $574K | Reduce -1.9% |
| TBT Proshares Ultrashort 20+Y TR | 0.18% | 16,585 | $558K | Add +129.9% |
| COP Conocophillips | 0.18% | 5,309 | $558K | No change |
| HIG Hartford Insurance Group Inc. | 0.17% | 4,487 | $555K | Reduce -2.2% |
| EMR Emerson Electric Co. | 0.17% | 4,966 | $544K | No change |
| ABBV Abbvie Inc. | 0.16% | 2,472 | $518K | No change |
| ET Energy Transfer LP | 0.16% | 27,178 | $505K | Reduce -15.5% |
| WAT Waters Corp. | 0.16% | 1,366 | $503K | No change |
| GLD SPDR Gold Shares | 0.16% | 1,722 | $496K | No change |
| DVN Devon Energy Corp. | 0.16% | 13,200 | $494K | Add +29.4% |
| VLO Valero Energy Corp. | 0.15% | 3,705 | $489K | No change |
| NFLX Netflix Inc. | 0.15% | 522 | $487K | Add +45.8% |
| CACC Credit Acceptance Corp. | 0.14% | 891 | $460K | No change |
| META Meta Platforms Inc. Class A | 0.14% | 795 | $458K | Reduce -8.4% |
| ITW Illinois Tool Works | 0.14% | 1,843 | $457K | No change |
| ROP Roper Technologies Inc. | 0.14% | 773 | $456K | No change |
| VGSH Vanguard Short-Term Treasury | 0.14% | 7,529 | $442K | Add +2.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.14% | 10,375 | $433K | No change |
| BND Vanguard Total Bond Market | 0.13% | 5,534 | $406K | No change |
| WMS Advanced Drainage Systems Inc. | 0.12% | 3,600 | $391K | No change |
| FLR Fluor Corp. | 0.12% | 10,400 | $373K | Reduce -5.6% |
| CR Crane Co. | 0.11% | 2,355 | $361K | No change |
| SHEL Shell PLC-ADR | 0.11% | 4,800 | $352K | No change |
| ESGR Enstar Group Ltd. | 0.11% | 1,040 | $346K | No change |
| BMY Bristol-Myers Squibb Co. | 0.11% | 5,650 | $345K | Reduce -11.7% |
| CI The Cigna Group | 0.11% | 1,043 | $343K | No change |
| XLE SS Energy Select Sector | 0.11% | 3,635 | $340K | Add +47.0% |
| PH Parker Hannifin Corp. | 0.11% | 553 | $336K | No change |
| WPM Wheaton Precious Metals Corp. | 0.11% | 4,305 | $334K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.10% | 3,380 | $334K | Reduce -5.9% |
| GE General Electric filed as GE AEROSPACE | 0.10% | 1,621 | $324K | No change |
| HII Huntington Ingalls Industrie | 0.10% | 1,583 | $323K | No change |
| OXY Occidental Petroleum Corp. | 0.10% | 6,524 | $322K | No change |
| CRS Carpenter Technology | 0.10% | 1,760 | $319K | No change |
| ACN Accenture PLC Class A | 0.10% | 1,009 | $315K | No change |
Options reported separately and not counted above: SPY puts ($1.4M), GS puts ($546K), KWEB calls ($262K), CRSP calls ($119K), INTC calls ($114K), NVDA calls ($108K), FCX calls ($57K).
Other holdings (3): bonds, preferreds, convertibles and warrants · $7K (not counted above)
Total filed on the 13F, all lines: $318.1M.
Portfolio Sells Q4 2024 → Q1 2025
| XLV SS Health Care Select Sector | Reduce -32.3% | 3.91% | −1.59 |
| AAPL Apple Inc. | Reduce -0.1% | 6.36% | −0.90 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -49.1% | 0.84% | −0.76 |
| GOOG Alphabet Inc. Class C | Reduce -0.2% | 3.21% | −0.76 |
| VOO Vanguard S&P 500 ETF | Reduce -0.1% | 5.35% | −0.33 |
| PFE Pfizer Inc. | Reduce -53.1% | 0.09% | −0.11 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.08 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.07 |
| MS Morgan Stanley | Sold out | 0.00% | −0.07 |
| BN Brookfield Corp. | Sold out | 0.00% | −0.07 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.06 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -2.8% | 0.38% | −0.06 |
| FLR Fluor Corp. | Reduce -5.6% | 0.12% | −0.06 |
| ET Energy Transfer LP | Reduce -15.5% | 0.16% | −0.04 |
| VTRS Viatris Inc. | Sold out | 0.00% | −0.04 |
| CRSP Crispr Therapeutics AG | Reduce -28.4% | 0.06% | −0.04 |
| PFF iShares Preferred & Income S | Reduce -3.1% | 0.43% | −0.03 |
| GLW Corning Inc. | Reduce -0.7% | 0.49% | −0.03 |
| FLNG Flex LNG Ltd. | Reduce -19.9% | 0.09% | −0.02 |
| DIS The Walt Disney Co. | Reduce -5.9% | 0.10% | −0.02 |
| DOW Dow Inc. | Reduce -7.3% | 0.09% | −0.02 |
| SJM The JM Smucker Co. | Reduce -26.3% | 0.07% | −0.02 |
| SRFM Surf Air Mobility Inc. | Reduce -37.5% | 0.01% | −0.02 |
| META Meta Platforms Inc. Class A | Reduce -8.4% | 0.14% | −0.02 |
| IVE iShares S&P 500 Value ETF | Reduce -0.9% | 0.79% | −0.02 |
| EQT Eqt Corp. | Reduce -25.7% | 0.09% | −0.02 |
| TXT Textron Inc. | Reduce -1.2% | 0.18% | −0.02 |
| DLTH Duluth Holdings Inc. Class B | Reduce -12.5% | 0.01% | −0.01 |
| MVST Microvast Holdings Inc. | Reduce -8.8% | 0.01% | −0.01 |
| MET Metlife Inc. | Reduce -1.0% | 0.25% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -2.6% | 0.40% | −0.01 |
| PLUG Plug Power Inc. | Reduce -15.1% | 0.01% | −0.01 |
| KMI Kinder Morgan Inc. | Reduce -6.0% | 0.21% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -11.7% | 0.11% | −0.01 |
| ORIGIN MATERIALS INC | Reduce -13.7% | 0.00% | −0.01 |
| KMB Kimberly-Clark Corp. | Reduce -12.3% | 0.08% | −0.01 |
| ADP Automatic Data Processing | Reduce -4.3% | 0.24% | −0.00 |
| INTC Intel Corp. | Reduce -13.6% | 0.09% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -3.6% | 0.35% | −0.00 |
| LIN Linde PLC | Reduce -3.0% | 0.07% | +0.00 |
| SQQQ Proshares TR | Reduce -12.3% | 0.07% | +0.00 |
| LNC Lincoln National Corp. | Reduce -5.7% | 0.09% | +0.01 |
| NEM Newmont Corp. | Reduce -6.7% | 0.09% | +0.01 |
| HIG Hartford Insurance Group Inc. | Reduce -2.2% | 0.17% | +0.01 |
| VZ Verizon Communications Inc. | Reduce -5.2% | 0.30% | +0.02 |
| T AT&T Inc. | Reduce -1.9% | 0.18% | +0.03 |
| AMGN Amgen Inc. | Reduce -1.0% | 0.29% | +0.04 |
| KO The Coca-Cola Co. | Reduce -2.0% | 0.54% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 1.12% | +0.15 |
Portfolio Buys Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +40.1% | 8.49% | +2.07 |
| VEU Vanguard Ftse All-World Ex-U | Add +306.2% | 2.65% | +2.03 |
| XLF SS Financial Select Sector | Add +914.4% | 1.81% | +1.63 |
| XLI SS Industrial Select Sector | New | 1.15% | +1.15 |
| EFV iShares MSCI Eafe Value ETF | Add +1.3% | 8.74% | +0.97 |
| FCX Freeport-McMoran Inc. | New | 0.10% | +0.10 |
| FXI iShares China Large-Cap ETF | New | 0.09% | +0.09 |
| TBT Proshares Ultrashort 20+Y TR | Add +129.9% | 0.18% | +0.09 |
| BABA Alibaba Group Holding-SP ADR | New | 0.09% | +0.09 |
| LLY Eli Lilly & Co. | Add +12.0% | 0.54% | +0.08 |
| XLP SS Consumer Staples Sel Sect | Add +1.5% | 1.83% | +0.07 |
| NFLX Netflix Inc. | Add +45.8% | 0.15% | +0.05 |
| DVN Devon Energy Corp. | Add +29.4% | 0.16% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +0.0% | 3.75% | +0.04 |
| XLE SS Energy Select Sector | Add +47.0% | 0.11% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +18.3% | 0.09% | +0.02 |
| MA Mastercard Inc. Class A | Add +1.2% | 0.30% | +0.01 |
| EDIT Editas Medicine Inc. | Add +250.0% | 0.01% | +0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +1.6% | 0.35% | +0.01 |
| KWEB Kranesh Csi China Internet | New | 0.00% | +0.00 |
| VGSH Vanguard Short-Term Treasury | Add +2.5% | 0.14% | +0.00 |
| XRX Xerox Holdings Corp. | Add +78.2% | 0.03% | +0.00 |
| EFIV SS SPDR S&P 500 ESG ETF | Add +2.3% | 0.09% | −0.00 |
| HD Home Depot Inc. | Add +3.6% | 0.24% | −0.01 |
| ORCL Oracle Corp. | Add +0.1% | 0.23% | −0.05 |
| NVDA Nvidia Corp. | Add +14.3% | 0.56% | −0.05 |
| XLY SS Consumer Disc Select Sect | Add +0.2% | 2.10% | −0.31 |
| AMZN Amazon.com Inc. | Add +1.0% | 2.79% | −0.43 |
| MSFT Microsoft Corp. | Add +0.2% | 4.56% | −0.61 |
| XLK SS Technology Select Sector | Add +5.1% | 8.73% | −0.73 |
| ZD Ziff Davis Inc. | Add +11.8% | 4.80% | −1.48 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 2,500 | $1.4M |
| GS Goldman Sachs Group Inc. | put | New | 1,000 | $546K |
| KWEB Kranesh Csi China Internet | call | Reduce -44.0% | 7,500 | $262K |
| CRSP Crispr Therapeutics AG | call | Add +40.0% | 3,500 | $119K |
| NVDA Nvidia Corp. | call | New | 1,000 | $108K |
| FCX Freeport-McMoran Inc. | call | New | 1,500 | $57K |
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 | 144 | $467.5M | EFV, XLK, AGG, ZD, AAPL |
| Q1 2026 | 154 | $420.8M | EFV, AGG, XLK, AAPL, ZD |
| Q4 2025 | 164 | $423.9M | EFV, XLK, AGG, AAPL, GOOG |
| Q3 2025 | 165 | $409.4M | EFV, AGG, XLK, AAPL, MSFT |
| Q2 2025 | 162 | $367.2M | EFV, AGG, XLK, MSFT, VOO |
| Q1 2025 | 157 | $318.1M | EFV, XLK, SPY, AAPL, VOO |
| Q4 2024 | 159 | $314.5M | XLK, EFV, AAPL, SPY, ZD |
| Q3 2024 | 162 | $402.6M | AGG, XLK, EFV, IAU, AAPL |
| Q2 2024 | 157 | $392.5M | AGG, XLK, QQQ, EFV, AAPL |
| Q1 2024 | 164 | $385.2M | AGG, XLK, QQQ, EFV, ZD |