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

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 Q4 2024 Q1 2025: $318.1M $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 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
FCX Freeport-McMoran Inc. 0.10% 8,249 $312K New
LNC Lincoln National Corp. 0.09% 8,336 $299K Reduce -5.7%
EQT Eqt Corp. 0.09% 5,500 $294K Reduce -25.7%
FXI iShares China Large-Cap ETF 0.09% 8,173 $293K New
PFE Pfizer Inc. 0.09% 11,442 $290K Reduce -53.1%
EFIV SS SPDR S&P 500 ESG ETF 0.09% 5,418 $290K Add +2.3%
CRWD CrowdStrike Holdings Inc. Class A 0.09% 814 $287K Add +18.3%
UNP Union Pacific Corp. 0.09% 1,213 $287K No change
L Loews Corp. 0.09% 3,100 $285K No change
BABA Alibaba Group Holding-SP ADR 0.09% 2,140 $283K New
FLNG Flex LNG Ltd. 0.09% 12,250 $282K Reduce -19.9%
INTC Intel Corp. 0.09% 12,137 $276K Reduce -13.6%
DOW Dow Inc. 0.09% 7,797 $272K Reduce -7.3%
IWF iShares Russell 1000 Growth 0.09% 752 $272K No change
NEM Newmont Corp. 0.09% 5,600 $270K Reduce -6.7%
KMB Kimberly-Clark Corp. 0.08% 1,788 $254K Reduce -12.3%
URI United Rentals Inc. 0.08% 403 $253K No change
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.07% 1,995 $236K Reduce -26.3%
SQQQ Proshares TR 0.07% 6,140 $235K Reduce -12.3%
SCHW Schwab (charles) Corp. 0.07% 2,988 $234K No change
LH Labcorp Holdings Inc. 0.07% 995 $232K No change
LIN Linde PLC 0.07% 494 $230K Reduce -3.0%
VUG Vanguard Mrngstar GR ETF-Sui 0.07% 618 $229K No change
AFL Aflac Inc. 0.07% 2,059 $229K No change
WFC Wells Fargo & Co. 0.07% 3,187 $229K No change
MTDR Matador Resources Co. 0.07% 4,458 $228K No change
ROM Proshares Ultra Technology 0.07% 4,176 $223K No change
FYBR Frontier Communications Pare 0.07% 6,191 $222K No change
QCOM Qualcomm Inc. 0.07% 1,379 $212K No change
HYT BlackRock Corp. Hi YLD 0.07% 22,000 $211K No change
DOV Dover Corp. 0.07% 1,179 $207K No change
GBTC Grayscale Bitcoin Trust ETF 0.07% 3,173 $207K No change
B Barrick Gold Corp. 0.06% 10,000 $194K No change
CRSP Crispr Therapeutics AG 0.06% 5,409 $184K Reduce -28.4%
NGD New Gold Inc. 0.04% 38,500 $143K No change
M Macy's Inc. 0.04% 11,300 $142K No change
XRX Xerox Holdings Corp. 0.03% 18,235 $88K Add +78.2%
RIG Transocean Ltd. 0.02% 23,000 $73K No change
DHF BNYM High Yield Strategies filed as BNY MELLON HIGH YIELD STRATE 0.02% 25,100 $64K No change
RXRX Recursion Pharmaceuticals-A 0.02% 11,433 $60K No change
QS Quantumscape Corp. 0.02% 13,200 $55K No change
DLTH Duluth Holdings Inc. Class B 0.01% 24,500 $43K Reduce -12.5%
EDIT Editas Medicine Inc. 0.01% 35,000 $41K Add +250.0%
MVST Microvast Holdings Inc. 0.01% 31,000 $36K Reduce -8.8%
UROY Uranium Royalty Corp. 0.01% 16,000 $28K No change
PLUG Plug Power Inc. 0.01% 19,950 $27K Reduce -15.1%
MIN Aberdeen Intermediate Inc. FD 0.01% 10,000 $27K No change
SRFM Surf Air Mobility Inc. 0.01% 10,000 $27K Reduce -37.5%
URG Ur-Energy Inc. 0.01% 36,000 $24K No change
KWEB Kranesh Csi China Internet 0.00% 439 $15K New
ORIGIN MATERIALS INC 0.00% 22,000 $15K Reduce -13.7%
ACHL Achilles Therapeutics PL-ADR 0.00% 10,000 $15K No change
CHPT Chargepoint Holdings Inc. 0.00% 23,000 $14K No change
ONCY Oncolytics Biotech Inc. 0.00% 25,000 $14K No change
CNTN Canton Strategic Holdings Inc. filed as THARIMMUNE INC 0.00% 10,000 $14K No change
BLNK Blink Charging Co. 0.00% 14,000 $13K No change
KOPN Kopin Corp. 0.00% 10,000 $9K 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)
SecurityClassShares / PrincipalValueChange
ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 10,000$4KNo change
LUCYW Innovative Eyewear Inc.-CW23 *W EXP 08/16/202 31,388$2KNo change
RBOT.WS Vicarious Surgical Inc.-CW27 *W EXP 09/17/202 25,000$903No change

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

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