Carmel Capital Management L.L.C.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), Carmel Capital Management L.L.C. reported 23 stock positions worth $330.0 million. Its top holding was Broadcom (AVGO) at 15.0% of the portfolio, followed by Vistra (VST, 12.5%) and Applied Materials (AMAT, 7.1%). Compared with Q3 2025, it sold out of 2, added to 16 and reduced 4. The biggest buy was Teradyne (TER, shares +0%) and the biggest sale Vistra (VST, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- CARMEL, CA
- CIK
- 0001878547
- Portfolio Value
- $330.0M (Q4 2025)
- SEC Filing
- 0001754960-26-000131 ↗ filed Jan 28, 2026
Holdings Value
Holdings 23 stocks · $330.0M
| AVGO Broadcom Inc. | 14.99% | 142,930 | $49.5M | Reduce -3.1% |
| VST Vistra Corp. | 12.48% | 255,354 | $41.2M | Reduce -0.2% |
| AMAT Applied Materials Inc. | 7.12% | 91,398 | $23.5M | Reduce -0.5% |
| C Citigroup Inc. | 6.33% | 178,949 | $20.9M | Add +1.5% |
| JPM JPMorgan Chase & Co. | 6.08% | 62,227 | $20.1M | Add +1.4% |
| KLAC KLA Corp. | 5.00% | 13,567 | $16.5M | Add +0.3% |
| ASML ASML Holding NV-NY Reg SHS | 4.61% | 14,218 | $15.2M | Add +0.1% |
| RTX RTX Corp. | 4.52% | 81,316 | $14.9M | Add +0.2% |
| EWBC East West Bancorp Inc. | 4.29% | 126,080 | $14.2M | Add +0.1% |
| AAPL Apple Inc. | 4.09% | 49,687 | $13.5M | Add +0.3% |
| NXPI NXP Semiconductors NV | 4.07% | 61,912 | $13.4M | Add +2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.81% | 25,000 | $12.6M | Add +2.1% |
| TER Teradyne Inc. | 3.51% | 59,784 | $11.6M | Add +0.3% |
| ENS Enersys | 3.24% | 72,895 | $10.7M | Add +10.0% |
| RSPN Invesco S&P 500 Equal Weight | 2.95% | 171,635 | $9.7M | Add +1.6% |
| RBC RBC Bearings Inc. | 2.69% | 19,783 | $8.9M | Add +0.3% |
| VLO Valero Energy Corp. | 2.59% | 52,586 | $8.6M | Add +2.8% |
| AZO AutoZone Inc. | 2.57% | 2,505 | $8.5M | Reduce -1.7% |
| ROBO Robo Global Robotics and Aut filed as EXCHANGE TRADED CONCEPTS TRU | 2.08% | 98,940 | $6.9M | Add +0.8% |
| EPI Wisdomtree India Earnings | 1.93% | 137,755 | $6.4M | Add +5.7% |
| SMH Vaneck Semiconductor ETF | 0.55% | 5,062 | $1.8M | No change |
| MSFT Microsoft Corp. | 0.37% | 2,539 | $1.2M | No change |
| GLD SPDR Gold Shares | 0.13% | 1,120 | $444K | No change |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| TER Teradyne Inc. | Add +0.3% | 3.51% | +1.01 |
| ENS Enersys | Add +10.0% | 3.24% | +0.97 |
| C Citigroup Inc. | Add +1.5% | 6.33% | +0.89 |
| KLAC KLA Corp. | Add +0.3% | 5.00% | +0.56 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.1% | 4.61% | +0.43 |
| RTX RTX Corp. | Add +0.2% | 4.52% | +0.39 |
| RBC RBC Bearings Inc. | Add +0.3% | 2.69% | +0.35 |
| AAPL Apple Inc. | Add +0.3% | 4.09% | +0.26 |
| EWBC East West Bancorp Inc. | Add +0.1% | 4.29% | +0.22 |
| JPM JPMorgan Chase & Co. | Add +1.4% | 6.08% | +0.19 |
| EPI Wisdomtree India Earnings | Add +5.7% | 1.93% | +0.18 |
| ROBO Robo Global Robotics and Aut | Add +0.8% | 2.08% | +0.12 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.1% | 3.81% | +0.07 |
| RSPN Invesco S&P 500 Equal Weight | Add +1.6% | 2.95% | +0.06 |
| VLO Valero Energy Corp. | Add +2.8% | 2.59% | −0.05 |
| NXPI NXP Semiconductors NV | Add +2.1% | 4.07% | −0.13 |
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 |