Carmel Capital Management L.L.C.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), Carmel Capital Management L.L.C. reported 25 stock positions worth $246.3 million. Its top holding was Vistra (VST) at 12.2% of the portfolio, followed by Broadcom (AVGO, 10.6%) and JPMorgan Chase (JPM, 6.1%). Compared with Q4 2024, it sold out of 1, added to 11 and reduced 10. The biggest buy was Citigroup (C, shares +13%) and the biggest sale Broadcom (AVGO, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- CARMEL, CA
- CIK
- 0001878547
- Portfolio Value
- $246.3M (Q1 2025)
- SEC Filing
- 0001754960-25-000261 ↗ filed Apr 29, 2025
Holdings Value
Holdings 25 stocks · $246.3M
| VST Vistra Corp. | 12.17% | 255,299 | $30.0M | Reduce -0.1% |
| AVGO Broadcom Inc. | 10.59% | 155,730 | $26.1M | Reduce -7.1% |
| JPM JPMorgan Chase & Co. | 6.11% | 61,372 | $15.1M | Reduce -0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.20% | 24,027 | $12.8M | Reduce -0.9% |
| AMAT Applied Materials Inc. | 5.13% | 87,085 | $12.6M | Add +0.8% |
| C Citigroup Inc. | 5.01% | 173,775 | $12.3M | Add +13.2% |
| AAPL Apple Inc. | 4.99% | 55,272 | $12.3M | Reduce -0.3% |
| NXPI NXP Semiconductors NV | 4.53% | 58,657 | $11.1M | Reduce -0.1% |
| EWBC East West Bancorp Inc. | 4.43% | 121,545 | $10.9M | Add +0.4% |
| RTX RTX Corp. | 4.26% | 79,196 | $10.5M | Add +1.1% |
| FISV Fiserv Inc. | 4.18% | 46,610 | $10.3M | No change |
| GPK Graphic Packaging Holding Co. | 3.94% | 373,875 | $9.7M | Add +0.2% |
| AZO AutoZone Inc. | 3.88% | 2,506 | $9.6M | Reduce -0.1% |
| ASML ASML Holding NV-NY Reg SHS | 3.76% | 13,993 | $9.3M | Add +0.4% |
| KLAC KLA Corp. | 3.66% | 13,273 | $9.0M | Add +2.1% |
| RSPN Invesco S&P 500 Equal Weight | 3.33% | 167,660 | $8.2M | Reduce -0.1% |
| VLO Valero Energy Corp. | 2.59% | 48,311 | $6.4M | Add +0.6% |
| RBC RBC Bearings Inc. | 2.58% | 19,728 | $6.3M | No change |
| ENS Enersys | 2.47% | 66,295 | $6.1M | Add +47.2% |
| EPI Wisdomtree India Earnings | 2.29% | 129,005 | $5.6M | Add +1.0% |
| ROBO Robo Global Robotics and Aut filed as EXCHANGE TRADED CONCEPTS TRU | 2.05% | 97,965 | $5.0M | Add +0.3% |
| TER Teradyne Inc. | 1.92% | 57,159 | $4.7M | Reduce -0.3% |
| SMH Vaneck Semiconductor ETF | 0.43% | 5,062 | $1.1M | Reduce -1.0% |
| MSFT Microsoft Corp. | 0.39% | 2,539 | $953K | No change |
| GLD SPDR Gold Shares | 0.12% | 1,005 | $290K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -7.1% | 10.59% | −4.09 |
| VST Vistra Corp. | Reduce -0.1% | 12.17% | −1.13 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.87 |
| TER Teradyne Inc. | Reduce -0.3% | 1.92% | −0.81 |
| AAPL Apple Inc. | Reduce -0.3% | 4.99% | −0.26 |
| NXPI NXP Semiconductors NV | Reduce -0.1% | 4.53% | −0.08 |
| SMH Vaneck Semiconductor ETF | Reduce -1.0% | 0.43% | −0.03 |
| RSPN Invesco S&P 500 Equal Weight | Reduce -0.1% | 3.33% | +0.15 |
| JPM JPMorgan Chase & Co. | Reduce -0.1% | 6.11% | +0.55 |
| AZO AutoZone Inc. | Reduce -0.1% | 3.88% | +0.85 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.9% | 5.20% | +1.04 |
Portfolio Buys Q4 2024 → Q1 2025
| C Citigroup Inc. | Add +13.2% | 5.01% | +0.93 |
| ENS Enersys | Add +47.2% | 2.47% | +0.89 |
| RTX RTX Corp. | Add +1.1% | 4.26% | +0.83 |
| KLAC KLA Corp. | Add +2.1% | 3.66% | +0.57 |
| VLO Valero Energy Corp. | Add +0.6% | 2.59% | +0.37 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.4% | 3.76% | +0.11 |
| GPK Graphic Packaging Holding Co. | Add +0.2% | 3.94% | +0.11 |
| EPI Wisdomtree India Earnings | Add +1.0% | 2.29% | +0.11 |
| EWBC East West Bancorp Inc. | Add +0.4% | 4.43% | +0.05 |
| ROBO Robo Global Robotics and Aut | Add +0.3% | 2.05% | −0.03 |
| AMAT Applied Materials Inc. | Add +0.8% | 5.13% | −0.18 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $456.4M | AMAT, AVGO, VST, ASML, KLAC |
| Q1 2026 | 25 | $349.2M | AVGO, VST, AMAT, C, ASML |
| Q4 2025 | 23 | $330.0M | AVGO, VST, AMAT, C, JPM |
| Q3 2025 | 25 | $329.0M | VST, AVGO, JPM, AMAT, C |
| Q2 2025 | 25 | $296.5M | VST, AVGO, JPM, AMAT, C |
| Q1 2025 | 25 | $246.3M | VST, AVGO, JPM, BRK.B, AMAT |
| Q4 2024 | 26 | $264.7M | AVGO, VST, JPM, AMAT, AAPL |
| Q3 2024 | 28 | $266.6M | VST, AVGO, AMAT, NXPI, AAPL |
| Q2 2024 | 27 | $256.7M | AVGO, VST, AMAT, NXPI, ASML |
| Q1 2024 | 30 | $243.4M | AVGO, VST, AMAT, NXPI, ASML |