Cannell & Spears LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Cannell & Spears LLC reported 409 stock positions worth $5.3 billion. Its top holding was Microsoft (MSFT) at 6.8% of the portfolio, followed by Alphabet Class C (GOOG, 5.0%) and Apple (AAPL, 3.8%). Compared with Q3 2025, it opened 33 new positions, sold out of 24, added to 90 and reduced 175. The biggest buy was Alphabet Class C (GOOG, shares +7%) and the biggest sale Oracle (ORCL, shares −15%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001426319
Portfolio Value
$5.3B (Q4 2025)
SEC Filing
0001420506-26-000457 ↗ filed Feb 17, 2026

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $4.8B Q1 2024 Q2 2024: $4.8B Q2 2024 Q3 2024: $5.1B Q3 2024 Q4 2024: $4.9B Q4 2024 Q1 2025: $4.6B Q1 2025 Q2 2025: $5.0B Q2 2025 Q3 2025: $5.3B Q3 2025 Q4 2025: $5.3B $5.3B Q4 2025 Q1 2026: $5.1B Q1 2026 Q2 2026: $5.6B Q2 2026

Holdings 409 stocks · $5.3B

MSFT Microsoft Corp. 6.80% 747,186 $361.4M Add +0.6%
GOOG Alphabet Inc. Class C 5.04% 853,106 $267.7M Add +7.3%
AAPL Apple Inc. 3.80% 743,848 $202.2M Reduce -2.8%
BRK.B Berkshire Hathaway Inc. Class B 3.21% 339,478 $170.6M Reduce -0.3%
AMZN Amazon.com Inc. 3.01% 692,468 $159.8M Add +6.5%
CB Chubb Ltd. 2.59% 441,151 $137.7M Add +46.7%
GOOGL Alphabet Inc. Class A 2.30% 390,918 $122.4M Reduce -3.4%
BN Brookfield Corp. 2.30% 2,659,766 $122.1M Reduce -1.7%
MRP Millrose Properties 2.04% 3,628,052 $108.4M Add +38.0%
VRT Vertiv Holdings Co. Class A 1.82% 597,964 $96.9M Reduce -4.5%
ADI Analog Devices Inc. 1.77% 347,313 $94.2M Add +0.3%
CRH CRH PLC 1.65% 704,545 $87.9M Add +3.6%
ORCL Oracle Corp. 1.64% 448,286 $87.4M Reduce -14.5%
AEM Agnico Eagle Mines Ltd. 1.62% 509,073 $86.3M Reduce -9.1%
UNP Union Pacific Corp. 1.54% 353,746 $81.8M Add +225.1%
GIL Gildan Activewear Inc. 1.39% 1,185,929 $74.1M Reduce -6.2%
BEEX The Beehive ETF 1.37% 2,827,842 $73.0M Add +1.8%
AVGO Broadcom Inc. 1.34% 205,469 $71.1M Add +33.6%
NVDA Nvidia Corp. 1.34% 380,596 $71.0M Reduce -5.8%
ABT Abbott Laboratories 1.33% 564,206 $70.7M Add +0.4%
JPM JPMorgan Chase & Co. 1.32% 217,953 $70.2M Reduce -8.8%
REGN Regeneron Pharmaceuticals 1.30% 89,395 $69.0M Add +197.2%
ABBV Abbvie Inc. 1.16% 269,632 $61.6M Reduce -5.4%
B Barrick Mining Corp. 1.14% 1,396,930 $60.8M Reduce -24.7%
DHR Danaher Corp. 1.10% 256,078 $58.6M Add +5.9%
WTM White Mountains Insurance GP 1.10% 28,115 $58.4M Reduce -0.6%
FTAI Ftai Aviation Ltd. 1.06% 286,065 $56.3M Add +573.4%
PWR Quanta Services Inc. 0.98% 123,712 $52.2M Reduce -1.2%
TMO Thermo Fisher Scientific Inc. 0.97% 89,130 $51.6M Add +0.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.93% 322,811 $49.6M Reduce -2.0%
ICE Intercontinental Exchange Inc. 0.89% 291,263 $47.2M Add +6.2%
FIS Fidelity National Info Serv 0.84% 674,622 $44.8M Reduce -0.6%
COST Costco Wholesale Corp. 0.84% 51,501 $44.4M Reduce -1.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.79% 370,546 $42.2M Reduce -0.0%
LH Labcorp Holdings Inc. 0.75% 158,562 $39.8M Reduce -0.6%
AON Aon PLC Class A 0.74% 110,849 $39.1M Add +2.5%
PLD Prologis Inc. 0.71% 295,016 $37.7M Reduce -7.3%
JNJ Johnson & Johnson 0.71% 181,713 $37.6M Reduce -0.4%
FNV Franco-Nevada Corp. 0.69% 176,862 $36.7M Reduce -0.3%
MRK Merck & Co. Inc. 0.69% 345,940 $36.4M Add +0.2%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.68% 312,009 $36.2M Reduce -3.0%
MLM Martin Marietta Materials 0.62% 52,708 $32.8M Add +293.8%
FDX FedEx Corp. 0.62% 113,474 $32.8M Reduce -0.5%
CVX Chevron Corp. 0.61% 213,926 $32.6M Add +5.9%
BRK.A Berkshire Hathaway Inc. Class A 0.60% 42 $31.7M Reduce -4.5%
MDLZ Mondelez International Inc. Class A 0.59% 583,485 $31.4M Reduce -6.9%
LOW Lowe's Cos Inc. 0.58% 127,443 $30.7M Reduce -0.7%
HD Home Depot Inc. 0.58% 88,946 $30.6M Reduce -0.0%
SHAK Shake Shack Inc. Class A 0.54% 355,248 $28.8M New
ILMN Illumina Inc. 0.54% 218,158 $28.6M Reduce -8.8%
LMT Lockheed Martin Corp. 0.53% 57,857 $28.0M Reduce -1.1%
XYL Xylem Inc. 0.49% 189,980 $25.9M Reduce -12.8%
AGI Alamos Gold Inc. Class A 0.48% 659,791 $25.5M Reduce -48.3%
NVT Nvent Electric PLC 0.48% 248,969 $25.4M Reduce -2.0%
CL Colgate-Palmolive Co. 0.47% 316,738 $25.0M Reduce -0.4%
RTX RTX Corp. 0.46% 132,266 $24.3M Reduce -0.2%
FCNCA First Citizens Bcshs Class A 0.46% 11,286 $24.2M Reduce -24.9%
HON Honeywell International Inc. 0.44% 118,839 $23.2M Add +8.4%
LEN Lennar Corp. Class A 0.43% 222,232 $22.8M Reduce -1.3%
CMCSA Comcast Corp. Class A 0.43% 764,305 $22.8M Reduce -11.3%
CCK Crown Holdings Inc. 0.42% 215,186 $22.2M Reduce -0.5%
CEF Sprott Physical Gold and Sil 0.42% 483,025 $22.1M No change
ADP Automatic Data Processing 0.41% 84,644 $21.8M Reduce -0.6%
BEPC Brookfield Renewable Corp. 0.41% 562,179 $21.6M Reduce -15.8%
KO The Coca-Cola Co. 0.40% 304,017 $21.3M Reduce -0.4%
XOM Exxon Mobil Corp. 0.39% 173,635 $20.9M Reduce -0.7%
ITW Illinois Tool Works 0.39% 83,477 $20.6M Reduce -0.4%
NOW ServiceNow Inc. 0.39% 133,760 $20.5M Reduce -9.2%
QSR Restaurant Brands Intern 0.38% 298,769 $20.4M Reduce -0.7%
EQT Eqt Corp. 0.38% 378,968 $20.3M Reduce -29.7%
PHYS Sprott Physical Gold Trust 0.38% 614,790 $20.3M No change
HCA HCA Healthcare Inc. 0.38% 42,738 $20.0M Reduce -3.0%
TTWO Take-Two Interactive Softwre 0.37% 76,898 $19.7M Reduce -0.9%
APD Air Products & Chemicals Inc. 0.37% 79,670 $19.7M Reduce -8.8%
SYY Sysco Corp. 0.37% 265,545 $19.6M Add +0.6%
AMCR Amcor PLC 0.36% 2,280,229 $19.0M Reduce -19.9%
PEP Pepsico Inc. 0.35% 130,418 $18.7M Reduce -2.2%
CSTM Constellium SE 0.34% 967,047 $18.2M Reduce -37.9%
NEM Newmont Corp. 0.34% 180,113 $18.0M Add +27.3%
PKG Packaging Corp. of America 0.33% 85,986 $17.7M Reduce -57.6%
CHKP Check Point Software Tech 0.32% 90,684 $16.8M Reduce -15.8%
TXN Texas Instruments Inc. 0.30% 93,345 $16.2M New
AXSM Axsome Therapeutics Inc. 0.29% 84,154 $15.4M Add +0.0%
ELF Elf Beauty Inc. 0.28% 195,316 $14.9M New
RGLD Royal Gold Inc. 0.27% 65,469 $14.6M Add +3803.9%
BMY Bristol-Myers Squibb Co. 0.26% 251,530 $13.6M Reduce -0.6%
FNF Fidelity National Financial 0.25% 243,788 $13.3M Reduce -23.4%
VOO Vanguard S&P 500 ETF 0.24% 20,418 $12.8M Reduce -1.9%
UBER Uber Technologies Inc. 0.23% 151,045 $12.3M Reduce -75.0%
AFL Aflac Inc. 0.22% 104,692 $11.5M Reduce -1.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.22% 16,925 $11.5M Reduce -2.5%
CAT Caterpillar Inc. 0.20% 18,857 $10.8M Add +0.0%
PG The Procter & Gamble Co. 0.19% 72,164 $10.3M Reduce -0.1%
NYT New York Times Co. Class A 0.19% 147,898 $10.3M Reduce -1.0%
IWB iShares Russell 1000 ETF 0.19% 27,200 $10.2M No change
GM General Motors Co. 0.18% 120,940 $9.8M Reduce -26.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 33,088 $9.8M Add +0.0%
PSLV Sprott Physical Silver Trust 0.18% 405,400 $9.6M Add +3.0%
APTV Aptiv PLC 0.18% 125,583 $9.6M Reduce -0.5%
INTC Intel Corp. 0.18% 258,185 $9.5M Reduce -65.4%
CP Canadian Pacific Kansas City 0.17% 124,104 $9.1M Reduce -1.5%
DOV Dover Corp. 0.17% 45,857 $9.0M No change
GE General Electric filed as GE AEROSPACE 0.16% 28,317 $8.7M Reduce -31.1%
SII Sprott Inc. 0.16% 88,644 $8.7M Reduce -11.2%
OR Or Royalties Inc. 0.16% 243,713 $8.6M No change
V Visa Inc. Class A 0.16% 24,172 $8.5M Reduce -0.6%
CSCO Cisco Systems Inc. 0.16% 108,117 $8.3M Reduce -1.1%
BALL Ball Corp. 0.15% 154,232 $8.2M Reduce -6.7%
MA Mastercard Inc. Class A 0.15% 13,796 $7.9M Reduce -1.6%
PAAS Pan American Silver Corp. 0.15% 150,836 $7.8M No change
GLW Corning Inc. 0.15% 88,487 $7.7M No change
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.14% 118,079 $7.6M Reduce -44.1%
PAR Par Technology Corp. 0.14% 198,796 $7.2M Add +6.7%
META Meta Platforms Inc. Class A 0.14% 10,901 $7.2M Reduce -84.3%
DE Deere & Co. 0.13% 15,226 $7.1M Reduce -0.0%
DHI D.R. Horton Inc. 0.13% 49,214 $7.1M Add +0.0%
WPM Wheaton Precious Metals Corp. 0.13% 59,975 $7.0M Reduce -0.4%
GBFH Gbank Financial Holdings Inc. 0.13% 202,125 $6.9M Add +8.9%
PFE Pfizer Inc. 0.13% 271,198 $6.8M Reduce -0.9%
BIP Brookfield Infrastructure Pa 0.13% 193,549 $6.7M No change
IDXX Idexx Laboratories Inc. 0.12% 9,076 $6.1M No change
TOL Toll Brothers Inc. 0.11% 45,075 $6.1M Reduce -82.9%
GS Goldman Sachs Group Inc. 0.11% 6,836 $6.0M Reduce -2.0%
VTI VG Morningstar TS MKT ETF-US 0.11% 17,596 $5.9M Add +1.6%
SN Sharkninja Inc. 0.11% 51,739 $5.8M Reduce -64.4%
EMR Emerson Electric Co. 0.11% 43,018 $5.7M Reduce -0.1%
FTI Technipfmc PLC 0.10% 124,800 $5.6M Reduce -14.4%
RYAAY Ryanair Holdings PLC-SP ADR 0.10% 76,911 $5.6M Reduce -15.8%
ENS Enersys 0.10% 37,574 $5.5M New
TRP TC Energy Corp. 0.10% 96,650 $5.3M Reduce -12.0%
WMT Walmart Inc. 0.10% 46,310 $5.2M Add +0.0%
ELV Elevance Health Inc. 0.10% 14,673 $5.1M Reduce -3.9%
COF Capital One Financial Corp. 0.10% 21,206 $5.1M Add +0.8%
BX Blackstone Inc. 0.10% 32,900 $5.1M Add +4.8%
APO Apollo Global Management Inc. 0.10% 35,012 $5.1M Reduce -1.1%
PM Philip Morris International 0.10% 31,470 $5.0M Add +3.0%
KGC Kinross Gold Corp. 0.09% 173,538 $4.9M No change
RSP Invesco S&P 500 Equal Weight 0.09% 24,337 $4.7M Reduce -0.1%
MKL Markel Group Inc. 0.09% 2,124 $4.6M Add +2.9%
LHX L3HARRIS Technologies Inc. 0.09% 15,510 $4.6M Add +0.2%
TDY Teledyne Technologies Inc. 0.09% 8,862 $4.5M Reduce -0.8%
GVA Granite Construction Inc. 0.08% 39,041 $4.5M Reduce -0.5%
HAS Hasbro Inc. 0.08% 54,485 $4.5M Reduce -33.2%
RDDT Reddit Inc. Class A 0.08% 18,896 $4.3M Reduce -0.6%
C Citigroup Inc. 0.08% 36,996 $4.3M Reduce -0.1%
GLD SPDR Gold Shares 0.08% 10,802 $4.3M Add +2.1%
SSNC Ss&c Technologies Holdings 0.08% 47,347 $4.1M Reduce -26.5%
IQV Iqvia Holdings Inc. 0.08% 18,172 $4.1M Reduce -3.0%
LLY Eli Lilly & Co. 0.08% 3,760 $4.0M Reduce -1.0%
ET Energy Transfer LP 0.08% 242,097 $4.0M Add +76.6%
ECL Ecolab Inc. 0.07% 14,917 $3.9M Reduce -0.6%
TXT Textron Inc. 0.07% 43,637 $3.8M New
AMGN Amgen Inc. 0.07% 11,103 $3.6M Add +3.8%
KN Knowles Corp. 0.07% 168,965 $3.6M Reduce -39.6%
LRN Stride Inc. 0.07% 55,586 $3.6M New
SPGI S&P Global Inc. 0.07% 6,802 $3.6M Reduce -1.8%
KMB Kimberly-Clark Corp. 0.07% 34,678 $3.5M Add +0.9%
BDX Becton Dickinson and Co. 0.07% 17,964 $3.5M Reduce -19.1%
ADBE Adobe Inc. 0.06% 9,606 $3.4M Reduce -51.6%
RY Royal Bank of Canada 0.06% 19,390 $3.3M Reduce -9.1%
EPD Enterprise Products Partners 0.06% 101,170 $3.2M Reduce -1.8%
IWF iShares Russell 1000 Growth 0.06% 6,653 $3.1M No change
CPT Camden Property Trust 0.06% 28,460 $3.1M New
CMI Cummins Inc. 0.06% 6,008 $3.1M Add +0.0%
DVA Davita Inc. 0.06% 26,720 $3.0M Add +3.5%
CCEP Coca-Cola Europacific Partne 0.06% 32,603 $3.0M Reduce -7.9%
BIL SS SPDR BB 1-3M T-Bill ETF 0.05% 31,380 $2.9M Add +182.4%
LEA Lear Corp. 0.05% 24,849 $2.8M New
URBN Urban Outfitters Inc. 0.05% 37,490 $2.8M Reduce -85.0%
MMM 3M Co. 0.05% 17,403 $2.8M No change
NTRS Northern Trust Corp. 0.05% 20,394 $2.8M No change
AAMI Acadian Asset Management Inc. 0.05% 59,197 $2.8M New
REPX Riley Exploration Permian Inc. 0.05% 103,800 $2.7M Add +26.6%
SBCF Seacoast Banking Corp. 0.05% 85,621 $2.7M Reduce -50.0%
VGT Vanguard Info Tech ETF 0.05% 3,567 $2.7M Add +33.3%
VMI Valmont Industries 0.05% 6,591 $2.7M New
AXP American Express Co. 0.05% 7,129 $2.6M Reduce -9.3%
AXS Axis Capital Holdings Ltd. 0.05% 24,491 $2.6M No change
KMI Kinder Morgan Inc. 0.05% 95,349 $2.6M Reduce -0.6%
INTU Intuit Inc. 0.05% 3,868 $2.6M No change
WAT Waters Corp. 0.05% 6,642 $2.5M Add +3.3%
EQX Equinox Gold Corp. 0.05% 175,000 $2.5M New
ROP Roper Technologies Inc. 0.05% 5,510 $2.5M Add +13.1%
NKE Nike Inc. Class B 0.05% 38,123 $2.4M Add +72.2%
ISRG Intuitive Surgical Inc. 0.04% 4,117 $2.3M Add +0.1%
UNH Unitedhealth Group Inc. 0.04% 6,862 $2.3M Add +0.3%
SHEL Shell PLC-ADR 0.04% 29,903 $2.2M No change
SHW The Sherwin-Williams Co. 0.04% 6,742 $2.2M Add +0.1%
ATEC Alphatec Holdings Inc. 0.04% 100,000 $2.1M No change
NAIL Dire Dail HB & SB 3X ETF-Usd 0.04% 42,190 $2.1M Reduce -38.1%
QQQ Invesco QQQ Trust Series 1 0.04% 3,398 $2.1M Reduce -3.5%
WLY Wiley (john) & Sons Class A 0.04% 67,422 $2.1M No change
NN Nextnav Inc. 0.04% 121,952 $2.0M Add +78.2%
TPL Texas Pacific Land Corp. 0.04% 7,032 $2.0M Reduce -1.1%
MCD McDonald's Corp. 0.04% 6,170 $1.9M Reduce -1.6%
BAM Brookfield Asset Mgmt-A 0.04% 35,591 $1.9M Reduce -0.7%
TRMB Trimble Inc. 0.03% 22,724 $1.8M No change
NEE Nextera Energy Inc. 0.03% 21,512 $1.7M Add +0.7%
AMRZ Amrize Ltd. 0.03% 31,878 $1.7M Reduce -97.1%
HLI Houlihan Lokey Inc. 0.03% 9,884 $1.7M Reduce -5.9%
RKT Rocket Cos Inc. Class A 0.03% 88,641 $1.7M New
CNQ Canadian Natural Resources 0.03% 50,634 $1.7M Reduce -1.9%
CHD Church & Dwight Co. Inc. 0.03% 20,041 $1.7M Reduce -6.7%
IBB iShares Biotechnology ETF 0.03% 9,930 $1.7M No change
SYK Stryker Corp. 0.03% 4,685 $1.6M Add +0.1%
XLE SS Energy Select Sector 0.03% 36,096 $1.6M No change
SGML Sigma Lithium Corp. 0.03% 121,234 $1.6M Reduce -22.7%
MPLX MPLX LP 0.03% 29,500 $1.6M No change
WMB Williams Cos Inc. 0.03% 26,025 $1.6M Reduce -0.4%
GD General Dynamics Corp. 0.03% 4,605 $1.6M No change
PSX Phillips 66 0.03% 12,006 $1.5M Reduce -0.2%
RF Regions Financial Corp. 0.03% 56,661 $1.5M No change
ENB Enbridge Inc. 0.03% 30,975 $1.5M Reduce -0.5%
WM Waste Management Inc. 0.03% 6,660 $1.5M Reduce -0.0%
OPCH Option Care Health Inc. 0.03% 44,711 $1.4M Reduce -0.2%
VEA Vanguard Ftse Developed ETF 0.03% 22,691 $1.4M No change
SU Suncor Energy Inc. 0.03% 31,800 $1.4M No change
ELE Elemental Royalty Corp. 0.03% 82,330 $1.4M New
RITM Rithm Capital Corp. 0.03% 127,225 $1.4M Add +0.2%
COP Conocophillips 0.03% 14,407 $1.3M Add +0.0%
GPN Global Payments Inc. 0.03% 17,194 $1.3M Add +0.1%
ANET Arista Networks Inc. 0.02% 10,018 $1.3M Add +0.0%
MU Micron Technology Inc. 0.02% 4,596 $1.3M Add +0.1%
BR Broadridge Financial Solutio 0.02% 5,877 $1.3M No change
PH Parker Hannifin Corp. 0.02% 1,492 $1.3M Add +0.1%
IWM iShares Russell 2000 ETF 0.02% 5,260 $1.3M Reduce -1.0%
IVV iShares Core S&P 500 ETF 0.02% 1,868 $1.3M Add +1.0%
NXPI NXP Semiconductors NV 0.02% 5,848 $1.3M Add +40.3%
CRUS Cirrus Logic Inc. 0.02% 10,693 $1.3M New
PCYO Pure Cycle Corp. 0.02% 114,000 $1.3M No change
BORR Borr Drilling Ltd. 0.02% 304,000 $1.2M No change
AWI Armstrong World Industries 0.02% 6,315 $1.2M No change
NLY Annaly Capital Management Inc. 0.02% 52,970 $1.2M Reduce -5.0%
USB US Bancorp 0.02% 22,159 $1.2M Reduce -0.7%
AGNC AGNC Investment Corp. 0.02% 109,540 $1.2M No change
PINS Pinterest Inc. Class A 0.02% 45,088 $1.2M Reduce -44.6%
POWI Power Integrations Inc. 0.02% 31,826 $1.1M New
FTV Fortive Corp. 0.02% 20,106 $1.1M Reduce -82.5%
IJR iShares Core S&P Small-Cap E 0.02% 8,920 $1.1M No change
KMX Carmax Inc. 0.02% 26,936 $1.0M Reduce -38.5%
GDXJ Vaneck Junior Gold Miners 0.02% 9,125 $1.0M No change
BRO Brown & Brown Inc. 0.02% 12,583 $1.0M Add +19.3%
CCI Crown Castle Inc. 0.02% 10,998 $977K Reduce -7.5%
EAF Graftech International Ltd. 0.02% 62,207 $965K Reduce -19.4%
UNB Union Bankshares Inc. 0.02% 40,169 $953K Reduce -4.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.02% 16,788 $923K Reduce -0.7%
BIIB Biogen Inc. 0.02% 5,079 $894K No change
VRTX Vertex Pharmaceuticals Inc. 0.02% 1,960 $889K No change
VLTO Veralto Corp. 0.02% 8,883 $886K No change
APH Amphenol Corp. Class A 0.02% 6,547 $885K No change
VEU Vanguard Ftse All-World Ex-U 0.02% 11,558 $850K Add +1.4%
LB Landbridge Co. LLC-A 0.02% 17,340 $849K Add +0.4%
VIG Vanguard Dividend Apprec ETF 0.02% 3,768 $828K Add +26.4%
CART Maplebear Inc. 0.02% 18,410 $828K New
DPZ Domino's Pizza Inc. 0.01% 1,904 $794K Reduce -7.3%
LDI Loandepot Inc. Class A 0.01% 379,800 $786K Add +11.4%
NOC Northrop Grumman Corp. 0.01% 1,374 $783K Add +0.1%
VUG Vanguard Mrngstar GR ETF-Sui 0.01% 1,594 $778K Add +0.1%
PGC Peapack Gladstone Finl Corp. 0.01% 27,915 $777K No change
VB Vanguard Most SM-Cap ETF-Usd 0.01% 2,984 $770K Add +0.6%
CME Cme Group Inc. 0.01% 2,695 $736K Reduce -3.2%
NVS Novartis AG-Sponsored ADR 0.01% 5,108 $704K Add +41.6%
LIN Linde PLC 0.01% 1,638 $698K Add +0.1%
YUM Yum! Brands Inc. 0.01% 4,592 $695K Reduce -0.0%
NVO Novo-Nordisk A/S-Spons ADR 0.01% 13,522 $688K Add +13.2%
BNL Broadstone Net Lease Inc. 0.01% 38,898 $676K Reduce -3.5%
CI The Cigna Group 0.01% 2,420 $666K No change
MO Altria Group Inc. 0.01% 11,092 $640K Add +8.5%
ED Consolidated Edison Inc. 0.01% 6,263 $622K Reduce -0.2%
SKT Tanger Inc. 0.01% 18,473 $616K Reduce -95.2%
VWO Vanguard Ftse Emerging Marke 0.01% 11,441 $615K No change
BLFS Biolife Solutions Inc. 0.01% 25,436 $615K No change
CFR Cullen/Frost Bankers Inc. 0.01% 4,845 $614K No change
WLYB Wiley (john) & Sons Class B 0.01% 20,000 $610K No change
GEV GE Vernova Inc. 0.01% 928 $607K Add +0.4%
GRAB Grab Holdings Ltd. Class A 0.01% 120,000 $599K No change
BABA Alibaba Group Holding-SP ADR 0.01% 4,042 $592K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.01% 2,034 $590K Add +0.7%
TFX Teleflex Inc. 0.01% 4,800 $586K No change
AUGO Aura Minerals Inc. 0.01% 11,304 $570K New
TSLA Tesla Inc. 0.01% 1,247 $561K Reduce -1.0%
ESLT Elbit Systems Ltd. 0.01% 966 $558K Reduce -26.6%
ENVX Enovix Corp. 0.01% 76,297 $558K Reduce -2.7%
FTRE Fortrea Holdings Inc. 0.01% 31,315 $540K New
ORC Orchid Island Capital Inc. 0.01% 75,000 $540K No change
GBTC Grayscale Bitcoin Trust ETF 0.01% 7,765 $531K Add +18.3%
VIOG Vanguard S&P SM Cap 600 GRW 0.01% 4,365 $529K Add +14.7%
VZ Verizon Communications Inc. 0.01% 12,981 $529K Reduce -6.0%
ACN Accenture PLC Class A 0.01% 1,943 $521K Add +0.2%
IDEV iShares Core MSCI Dev MKTS 0.01% 6,295 $519K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 2,708 $517K No change
BAX Baxter International Inc. 0.01% 26,750 $511K Reduce -56.1%
AMD Advanced Micro Devices 0.01% 2,369 $507K Reduce -0.8%
SPPP Sprott Physical Platinum And 0.01% 30,000 $505K No change
JMIA Jumia Technologies AG-ADR 0.01% 40,000 $500K New
MTB M & T Bank Corp. filed as M & T BK CORP 0.01% 2,418 $487K Add +77.1%
XLV SS Health Care Select Sector 0.01% 3,045 $471K No change
CVCO Cavco Industries Inc. 0.01% 791 $467K No change
SCHW Schwab (charles) Corp. 0.01% 4,670 $467K Reduce -3.1%
EXPD Expeditors Intl Wash Inc. 0.01% 3,117 $464K No change
GBUG Sprott Active Gold & Silver 0.01% 10,615 $464K No change
PGR Progressive Corp. 0.01% 2,007 $457K Add +0.3%
RRC Range Resources Corp. 0.01% 12,846 $453K No change
FG F&G Annuities & Life Inc. 0.01% 14,600 $450K New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.01% 4,376 $448K No change
SLVR Sprott SLVR Miner & PHY SLVR 0.01% 8,000 $446K No change
GXO Gxo Logistics Inc. 0.01% 8,168 $430K Reduce -1.2%
SLV iShares Silver Trust 0.01% 6,665 $429K No change
TSM Taiwan Semiconductor-SP ADR 0.01% 1,397 $425K Add +7.7%
AEP American Electric Power 0.01% 3,673 $424K No change
IGV iShares Expanded Tech-Softwa 0.01% 4,000 $423K No change
MTD Mettler-Toledo International 0.01% 302 $421K Reduce -2.3%
VLY Valley National Bancorp 0.01% 35,000 $409K No change
IWN iShares Russell 2000 Value E 0.01% 2,205 $400K Reduce -4.8%
MDY State Street SPDR S&P Midcap 0.01% 655 $395K No change
ATR Aptargroup Inc. 0.01% 3,227 $394K No change
PLTR Palantir Technologies Inc. Class A 0.01% 2,209 $393K Reduce -6.1%
UHT Universal Health RLTY Income 0.01% 9,983 $391K No change
GLNG Golar LNG Ltd. 0.01% 10,500 $391K No change
MLP Maui Land & Pineapple Co. filed as MAUI LD & PINEAPPLE INC 0.01% 22,770 $386K Reduce -18.7%
GILD Gilead Sciences Inc. 0.01% 3,140 $385K Reduce -9.1%
OEF iShares S&P 100 ETF 0.01% 1,111 $381K Add +0.6%
BNTX Biontech SE-ADR 0.01% 4,000 $381K No change
DUK Duke Energy Corp. 0.01% 3,152 $369K Reduce -0.2%
IEV iShares Europe ETF 0.01% 5,300 $364K No change
RDZN Roadzen Inc. 0.01% 150,000 $362K No change
KVUE Kenvue Inc. 0.01% 20,935 $361K Reduce -38.2%
AES AES Corp. 0.01% 25,155 $361K No change
VYM Vanguard High DVD Yield ETF 0.01% 2,489 $357K Reduce -5.9%
VXF Vanguard Extended Market ETF 0.01% 1,700 $356K No change
DAL Delta Air Lines Inc. 0.01% 5,026 $349K Reduce -74.7%
GSM Ferroglobe PLC 0.01% 75,000 $348K No change
GRAL Grail Inc. 0.01% 4,000 $342K No change
AMAT Applied Materials Inc. 0.01% 1,316 $338K No change
T AT&T Inc. 0.01% 13,323 $331K Reduce -3.6%
MAX Mediaalpha Inc. Class A 0.01% 25,550 $331K Reduce -0.6%
SLB SLB Ltd. filed as SLB LIMITED 0.01% 8,535 $328K Reduce -13.9%
PNC PNC Financial Services Group 0.01% 1,551 $324K Reduce -16.2%
PAYX Paychex Inc. 0.01% 2,856 $320K Reduce -0.7%
AZN Astrazeneca PLC-Spons ADR 0.01% 3,333 $306K No change
TLT iShares 20+ Year Treasury BD 0.01% 3,510 $306K No change
MAR Marriott International Class A 0.01% 982 $305K No change
BIPC Brookfield Infrastructure-A 0.01% 6,690 $304K No change
VDC Vanguard Consumer Staple ETF 0.01% 1,434 $303K No change
TKO Tko Group Holdings Inc. 0.01% 1,448 $303K No change
IWO iShares Russell 2000 Growth 0.01% 923 $298K No change
FND Floor & Decor Holdings Inc. Class A 0.01% 4,896 $298K Reduce -50.4%
RDNT Radnet Inc. 0.01% 4,100 $293K No change
CTAS Cintas Corp. 0.01% 1,548 $291K Reduce -0.3%
IBP Installed Building Products 0.01% 1,120 $291K No change
DUOT Duos Technologies Group Inc. 0.01% 25,000 $281K Reduce -39.0%
SPDW Ste STR SPDR PT DW Eu ETF 0.01% 6,332 $281K No change
VTYX Ventyx Biosciences Inc. 0.01% 31,000 $280K Add +6.9%
GUNR NT Mstar GLBL NR ETF 0.01% 6,053 $278K New
HSY The Hershey Co. 0.01% 1,518 $276K Reduce -0.1%
LYB Lyondellbasell Indu Class A 0.01% 6,255 $271K New
MPC Marathon Petroleum Corp. 0.01% 1,618 $263K No change
TRV The Travelers Cos Inc. 0.00% 896 $260K No change
A Agilent Technologies Inc. 0.00% 1,902 $259K No change
L Loews Corp. 0.00% 2,449 $258K No change
HOLX Hologic Inc. 0.00% 3,452 $257K No change
CW Curtiss-Wright Corp. 0.00% 464 $256K No change
AIG American International Group 0.00% 2,976 $255K Add +0.2%
ALL Allstate Corp. 0.00% 1,223 $255K No change
FLS Flowserve Corp. 0.00% 3,663 $254K New
VLO Valero Energy Corp. 0.00% 1,543 $251K Add +0.2%
SEDG Solaredge Technologies Inc. 0.00% 8,645 $249K No change
NFLX Netflix Inc. 0.00% 2,655 $249K Add +0.6%
XLK SS Technology Select Sector 0.00% 1,720 $248K No change
OXY Occidental Petroleum Corp. 0.00% 6,016 $247K No change
ZBH Zimmer Biomet Holdings Inc. 0.00% 2,751 $247K No change
SWK Stanley Black & Decker Inc. 0.00% 3,320 $247K Reduce -9.7%
IAU iShares Gold Trust 0.00% 3,010 $244K New
MFC Manulife Financial Corp. 0.00% 6,731 $244K New
STE Steris PLC 0.00% 963 $244K No change
FIX Comfort Systems USA Inc. 0.00% 260 $243K Reduce -26.4%
BBJP JPMorgan Betabuilders Japan 0.00% 3,594 $237K No change
UL Unilever PLC-Sponsored ADR 0.00% 3,602 $236K No change
DBC Invesco DB Commodity Index T 0.00% 10,427 $233K Reduce -41.8%
ETN Eaton Corp. PLC 0.00% 725 $231K Reduce -35.1%
SOLV Solventum Corp. 0.00% 2,914 $231K New
GL Globe Life Inc. 0.00% 1,611 $225K No change
AIQ Global X Art Intel & Tech 0.00% 4,410 $224K No change
TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V 0.00% 21,200 $218K New
BWXT BWX Technologies Inc. 0.00% 1,262 $218K Reduce -10.1%
UHS Universal Health Services-B 0.00% 1,000 $218K No change
JCI Johnson Controls Internation 0.00% 1,802 $216K New
DLR Digital Realty Trust Inc. 0.00% 1,392 $215K Reduce -0.1%
GWW WW Grainger Inc. 0.00% 203 $205K New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.00% 2,904 $204K No change
BLK BlackRock Inc. 0.00% 188 $201K Reduce -47.9%
W Wayfair Inc. Class A 0.00% 2,000 $201K New
PAA Plains All Amer Pipeline LP 0.00% 10,700 $192K No change
IAUX I-80 Gold Corp. 0.00% 130,000 $190K No change
MCS Marcus Corporation 0.00% 10,100 $157K No change
MFA Mfa Financial Inc. 0.00% 16,800 $156K No change
BGC BGC Group Inc. Class A 0.00% 16,780 $150K Reduce -17.9%
TXO Txo Partners LP 0.00% 13,000 $139K Reduce -77.0%
MITK Mitek Systems Inc. 0.00% 11,090 $117K New
AMBP Ardagh Metal Packaging SA 0.00% 27,760 $114K No change
NGD New Gold Inc. 0.00% 13,000 $113K No change
IZEA Izea Worldwide Inc. 0.00% 25,000 $110K No change
NFGC New Found Gold Corp. 0.00% 30,000 $89K No change
ALEC Alector Inc. 0.00% 54,642 $85K Reduce -7.7%
RCAT Red Cat Holdings Inc. 0.00% 10,000 $79K No change
CVV CVD Equipment Corp. 0.00% 23,758 $73K Add +48.5%
NEPH Nephros Inc. 0.00% 11,000 $54K New
DEFT Defi Technologies Inc. 0.00% 65,000 $49K No change
ASPN Aspen Aerogels Inc. 0.00% 10,000 $28K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $29.5M (not counted above)
SecurityClassShares / PrincipalValueChange
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal 26,115,000$29.2MNew
TMSWW Live Oak Acquisition Co.-CW29 *W EXP 99/99/999 247,647$242KNew

Total filed on the 13F, all lines: $5.3B.

Portfolio Sells Q3 2025 → Q4 2025

ORCL Oracle Corp. Reduce -14.5% 1.64% −1.14
AMRZ Amrize Ltd. Reduce -97.1% 0.03% −0.97
UBER Uber Technologies Inc. Reduce -75.0% 0.23% −0.89
META Meta Platforms Inc. Class A Reduce -84.3% 0.14% −0.82
PBI Pitney Bowes Inc. Sold out 0.00% −0.72
TOL Toll Brothers Inc. Reduce -82.9% 0.11% −0.57
PKG Packaging Corp. of America Reduce -57.6% 0.33% −0.50
FISV Fiserv Inc. Sold out 0.00% −0.47
AGI Alamos Gold Inc. Class A Reduce -48.3% 0.48% −0.36
INTC Intel Corp. Reduce -65.4% 0.18% −0.29
URBN Urban Outfitters Inc. Reduce -85.0% 0.05% −0.28
SAND Sandstorm Gold Ltd. Sold out 0.00% −0.24
SKT Tanger Inc. Reduce -95.2% 0.01% −0.23
TMHC Taylor Morrison Home Corp. Sold out 0.00% −0.20
SN Sharkninja Inc. Reduce -64.4% 0.11% −0.17
EQT Eqt Corp. Reduce -29.7% 0.38% −0.17
AEM Agnico Eagle Mines Ltd. Reduce -9.1% 1.62% −0.16
MDLZ Mondelez International Inc. Class A Reduce -6.9% 0.59% −0.15
NOW ServiceNow Inc. Reduce -9.2% 0.39% −0.13
COUR Coursera Inc. Sold out 0.00% −0.12
XYL Xylem Inc. Reduce -12.8% 0.49% −0.12
LH Labcorp Holdings Inc. Reduce -0.6% 0.75% −0.12
FNF Fidelity National Financial Reduce -23.4% 0.25% −0.11
AL Sumisho Air Lease Corp. Reduce -44.1% 0.14% −0.11
LEN Lennar Corp. Class A Reduce -1.3% 0.43% −0.11
HD Home Depot Inc. Reduce -0.0% 0.58% −0.10
CHKP Check Point Software Tech Reduce -15.8% 0.32% −0.10
AMR Alpha Metallurgical Resource Sold out 0.00% −0.10
JPM JPMorgan Chase & Co. Reduce -8.8% 1.32% −0.10
CSTM Constellium SE Reduce -37.9% 0.34% −0.09
NVDA Nvidia Corp. Reduce -5.8% 1.34% −0.09
ABBV Abbvie Inc. Reduce -5.4% 1.16% −0.09
FTV Fortive Corp. Reduce -82.5% 0.02% −0.09
CAKE The Cheesecake Factory Inc. Sold out 0.00% −0.08
AMCR Amcor PLC Reduce -19.9% 0.36% −0.08
CMCSA Comcast Corp. Class A Reduce -11.3% 0.43% −0.08
APD Air Products & Chemicals Inc. Reduce -8.8% 0.37% −0.08
COST Costco Wholesale Corp. Reduce -1.6% 0.84% −0.08
GE General Electric Reduce -31.1% 0.16% −0.07
ADBE Adobe Inc. Reduce -51.6% 0.06% −0.07
ADP Automatic Data Processing Reduce -0.6% 0.41% −0.06
FNV Franco-Nevada Corp. Reduce -0.3% 0.69% −0.06
NAIL Dire Dail HB & SB 3X ETF-Usd Reduce -38.1% 0.04% −0.06
KN Knowles Corp. Reduce -39.6% 0.07% −0.05
FCNCA First Citizens Bcshs Class A Reduce -24.9% 0.46% −0.05
SBCF Seacoast Banking Corp. Reduce -50.0% 0.05% −0.05
BN Brookfield Corp. Reduce -1.7% 2.30% −0.04
HAS Hasbro Inc. Reduce -33.2% 0.08% −0.03
LOW Lowe's Cos Inc. Reduce -0.7% 0.58% −0.03
SSNC Ss&c Technologies Holdings Reduce -26.5% 0.08% −0.03

Portfolio Buys Q3 2025 → Q4 2025

GOOG Alphabet Inc. Class C Add +7.3% 5.04% +1.38
UNP Union Pacific Corp. Add +225.1% 1.54% +1.05
CB Chubb Ltd. Add +46.7% 2.59% +0.99
REGN Regeneron Pharmaceuticals Add +197.2% 1.30% +0.98
FTAI Ftai Aviation Ltd. Add +573.4% 1.06% +0.93
SHAK Shake Shack Inc. Class A New 0.54% +0.54
MLM Martin Marietta Materials Add +293.8% 0.62% +0.46
AVGO Broadcom Inc. Add +33.6% 1.34% +0.38
MRP Millrose Properties Add +38.0% 2.04% +0.37
AMZN Amazon.com Inc. Add +6.5% 3.01% +0.31
TXN Texas Instruments Inc. New 0.30% +0.30
ELF Elf Beauty Inc. New 0.28% +0.28
RGLD Royal Gold Inc. Add +3803.9% 0.27% +0.27
DHR Danaher Corp. Add +5.9% 1.10% +0.20
ADI Analog Devices Inc. Add +0.3% 1.77% +0.17
TMO Thermo Fisher Scientific Inc. Add +0.0% 0.97% +0.16
MRK Merck & Co. Inc. Add +0.2% 0.69% +0.14
CRH CRH PLC Add +3.6% 1.65% +0.12
NEM Newmont Corp. Add +27.3% 0.34% +0.11
ENS Enersys New 0.10% +0.10
AXSM Axsome Therapeutics Inc. Add +0.0% 0.29% +0.10
TXT Textron Inc. New 0.07% +0.07
LRN Stride Inc. New 0.07% +0.07
PSLV Sprott Physical Silver Trust Add +3.0% 0.18% +0.06
CPT Camden Property Trust New 0.06% +0.06
LEA Lear Corp. New 0.05% +0.05
AAMI Acadian Asset Management Inc. New 0.05% +0.05
VMI Valmont Industries New 0.05% +0.05
EQX Equinox Gold Corp. New 0.05% +0.05
BIL SS SPDR BB 1-3M T-Bill ETF Add +182.4% 0.05% +0.03
CAT Caterpillar Inc. Add +0.0% 0.20% +0.03
RKT Rocket Cos Inc. Class A New 0.03% +0.03
BEEX The Beehive ETF Add +1.8% 1.37% +0.03
ET Energy Transfer LP Add +76.6% 0.08% +0.03
ELE Elemental Royalty Corp. New 0.03% +0.03
CRUS Cirrus Logic Inc. New 0.02% +0.02
CVX Chevron Corp. Add +5.9% 0.61% +0.02
POWI Power Integrations Inc. New 0.02% +0.02
NN Nextnav Inc. Add +78.2% 0.04% +0.02
NKE Nike Inc. Class B Add +72.2% 0.05% +0.02
ICE Intercontinental Exchange Inc. Add +6.2% 0.89% +0.02
CART Maplebear Inc. New 0.02% +0.02
VGT Vanguard Info Tech ETF Add +33.3% 0.05% +0.01
COF Capital One Financial Corp. Add +0.8% 0.10% +0.01
AMGN Amgen Inc. Add +3.8% 0.07% +0.01
MKL Markel Group Inc. Add +2.9% 0.09% +0.01
BABA Alibaba Group Holding-SP ADR New 0.01% +0.01
WAT Waters Corp. Add +3.3% 0.05% +0.01
AUGO Aura Minerals Inc. New 0.01% +0.01
FTRE Fortrea Holdings Inc. New 0.01% +0.01

Notes & Other Activity Q3 2025 → Q4 2025

RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal New 26,115,000 $29.2M
TMSWW Live Oak Acquisition Co.-CW29 *W EXP 99/99/999 New 247,647 $242K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 440$5.6BGOOG, MSFT, AAPL, BRK.B, AMZN
Q1 2026Amended 415$5.1BMSFT, GOOG, AAPL, BRK.B, AMZN
Q4 2025 409$5.3BMSFT, GOOG, AAPL, BRK.B, AMZN
Q3 2025 400$5.3BMSFT, AAPL, GOOG, BRK.B, ORCL
Q2 2025 393$5.0BMSFT, BRK.B, AAPL, GOOG, AMZN
Q1 2025 390$4.6BMSFT, BRK.B, AAPL, GOOG, AMZN
Q4 2024 391$4.9BMSFT, AAPL, GOOG, BRK.B, AMZN
Q3 2024 401$5.1BMSFT, AAPL, GOOG, BRK.B, AMZN
Q2 2024 366$4.8BMSFT, GOOG, AAPL, BRK.B, AMZN
Q1 2024 381$4.8BMSFT, GOOG, BRK.B, AAPL, AMZN