Carmel Capital Partners, LLC

Name: Carmel Capital Partners, LLC 13F holdings, Q1 2025
Creator: Carmel Capital Partners, LLC
Published: 2025-05-05

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 5, 2025), Carmel Capital Partners, LLC reported 150 stock positions worth $254.3 million. Its top holding was Wisdomtree Floating Rate Tre (USFR) at 13.7% of the portfolio, followed by Home Depot (HD, 11.4%) and Lennar Class A (LEN, 4.8%). Compared with Q4 2024, it opened 10 new positions, sold out of 6, added to 71 and reduced 50. The biggest buy was a new position in Invesco Bulletshares 2029 CB (BSCT) and the biggest sale iShares Floating Rate Bond E (FLOT, shares −59%).

Most Recent 13F: Q2 2026
Location: SAN DIEGO, CA
CIK: 0001900481
Portfolio Value: $254.3M (Q1 2025)
SEC Filing: 0001900481-25-000004 ↗ filed May 5, 2025

Holdings Value

Holdings 150 stocks · $254.3M


USFR Wisdomtree Floating Rate Tre	13.75%	694,600	$35.0M	Add +12.5%
HD Home Depot Inc.	11.44%	79,381	$29.1M	Add +0.2%
LEN Lennar Corp. Class A	4.80%	106,393	$12.2M	Add +17.9%
PLTR Palantir Technologies Inc. Class A	4.44%	133,673	$11.3M	Reduce -29.1%
PFXF Vaneck Pref Sec X-Financials	3.03%	459,395	$7.7M	Add +7.3%
BSCS Invesco Bulletshares 2028 CB	2.18%	272,365	$5.5M	Add +8.0%
BSCR Invesco Bulletshares 2027 CB	2.17%	281,868	$5.5M	Add +7.4%
IBTI iShares Ibonds Dec 2028 Term	2.16%	247,149	$5.5M	Add +11.0%
BSCQ Invesco Bulletshares 2026 CB	2.16%	281,707	$5.5M	Add +7.1%
BSCT Invesco Bulletshares 2029 CB	2.14%	293,461	$5.4M	New
CGMS Cap Group US Multi-Sect Bond	2.13%	198,166	$5.4M	New
FLOT iShares Floating Rate Bond E	1.97%	98,336	$5.0M	Reduce -59.5%
STWD Starwood Property Trust Inc.	1.28%	164,623	$3.3M	Add +11.7%
LEN.B Lennar Corp. Class B	1.07%	25,018	$2.7M	No change
TSLA Tesla Inc.	1.07%	10,525	$2.7M	Reduce -5.0%
OBDC Blue Owl Capital Corp.	1.06%	183,228	$2.7M	Add +7.2%
QCOM Qualcomm Inc.	1.00%	16,506	$2.5M	Add +0.8%
AAPL Apple Inc.	0.94%	10,794	$2.4M	Reduce -0.2%
APG Api Group Corp.	0.93%	66,162	$2.4M	Add +4.1%
SCHW Schwab (charles) Corp.	0.90%	29,141	$2.3M	Add +2.4%
BN Brookfield Corp.	0.87%	42,352	$2.2M	Add +4.3%
APO Apollo Global Management Inc.	0.84%	15,559	$2.1M	Add +4.5%
ORCL Oracle Corp.	0.80%	14,627	$2.0M	Add +7.1%
UBER Uber Technologies Inc.	0.77%	26,989	$2.0M	Reduce -5.7%
ROK Rockwell Automation Inc.	0.77%	7,570	$2.0M	Add +4.1%
DG Dollar General Corp.	0.77%	22,193	$2.0M	New
OXY Occidental Petroleum Corp.	0.77%	39,519	$2.0M	Add +10.1%
MRP Millrose Properties	0.76%	72,686	$1.9M	Add +61.0%
IQV Iqvia Holdings Inc.	0.75%	10,763	$1.9M	Reduce -5.5%
ICE Intercontinental Exchange Inc.	0.73%	10,800	$1.9M	Add +4.5%
UPS United Parcel Service Class B	0.71%	16,333	$1.8M	Add +5.2%
HCA HCA Healthcare Inc.	0.69%	5,092	$1.8M	Reduce -3.5%
ON On Semiconductor	0.67%	41,841	$1.7M	Add +56.1%
CCK Crown Holdings Inc.	0.66%	18,859	$1.7M	Add +6.1%
IR Ingersoll-Rand Inc.	0.65%	20,576	$1.6M	Add +36.9%
MELI MercadoLibre Inc.	0.64%	834	$1.6M	New
LH Labcorp Holdings Inc.	0.62%	6,781	$1.6M	Add +2.7%
CSX CSX Corp.	0.62%	53,470	$1.6M	Add +3.9%
MU Micron Technology Inc.	0.60%	17,604	$1.5M	Reduce -4.3%
LKQ LKQ Corp.	0.59%	35,422	$1.5M	Reduce -4.6%
CARR Carrier Global Corp.	0.58%	23,374	$1.5M	Add +43.3%
AMAT Applied Materials Inc.	0.58%	10,181	$1.5M	Reduce -6.4%
GTLB Gitlab Inc. Class A	0.57%	30,851	$1.4M	New
FWONK Liberty Media Corp. Class C	0.57%	16,047	$1.4M	Add +3.1%
PHG Koninklijke Philips NVR- NY	0.56%	56,457	$1.4M	Add +6.5%
Z Zillow Group Inc. Class C	0.54%	20,075	$1.4M	Add +2.3%
BRK.B Berkshire Hathaway Inc. Class B	0.50%	2,390	$1.3M	Reduce -0.9%
CRM Salesforce Inc.	0.50%	4,697	$1.3M	Add +5.9%
MS Morgan Stanley	0.49%	10,754	$1.3M	Add +15.9%
RH RH	0.49%	5,336	$1.3M	Reduce -10.2%
BAX Baxter International Inc.	0.48%	35,558	$1.2M	Add +7.7%
BIPC Brookfield Infrastructure-A	0.46%	32,492	$1.2M	Reduce -1.6%
RPM RPM International Inc.	0.46%	10,039	$1.2M	Add +4.5%
NVDA Nvidia Corp.	0.45%	10,639	$1.2M	Add +8.2%
SPG Simon Property Group Inc.	0.45%	6,912	$1.1M	Reduce -0.6%
AA Alcoa Corp.	0.45%	37,546	$1.1M	Add +65.7%
BEPC Brookfield Renewable Corp.	0.43%	39,171	$1.1M	Reduce -1.1%
IBTF iShares Ibonds Dec 2025 Term	0.41%	44,500	$1.0M	No change
JEF Jefferies Financial Group Inc.	0.41%	19,398	$1.0M	Reduce -0.1%
MKL Markel Group Inc.	0.39%	536	$1.0M	No change
A Agilent Technologies Inc.	0.38%	8,261	$966K	Add +4.0%
VICI Vici Properties Inc. filed as VICI PPTYS INC	0.35%	27,464	$896K	Add +0.4%
JPM JPMorgan Chase & Co.	0.34%	3,562	$874K	Add +0.5%
SE Sea Ltd.-ADR	0.33%	6,500	$848K	No change
AGG iShares Core U.S. Aggregate	0.33%	8,447	$836K	Add +116.3%
GOOG Alphabet Inc. Class C	0.31%	5,022	$785K	Add +0.6%
ABBV Abbvie Inc.	0.31%	3,727	$781K	Reduce -0.5%
BA The Boeing Co.	0.31%	4,571	$780K	Reduce -17.8%
AMZN Amazon.com Inc.	0.30%	4,070	$774K	Reduce -4.1%
PECO Phillips Edison & Company Inc.	0.30%	20,877	$762K	Reduce -6.4%
VEA Vanguard Ftse Developed ETF	0.29%	14,701	$747K	Add +59.9%
MCD McDonald's Corp.	0.29%	2,390	$747K	Add +0.3%
VTI VG Morningstar TS MKT ETF-US	0.29%	2,691	$740K	Add +73.0%
XOM Exxon Mobil Corp.	0.28%	6,087	$724K	Add +0.5%
META Meta Platforms Inc. Class A	0.28%	1,226	$707K	Reduce -14.2%
WELL Welltower Inc.	0.27%	4,467	$684K	Reduce -1.6%
MSFT Microsoft Corp.	0.26%	1,779	$668K	Reduce -1.4%
EXR Extra Space Storage Inc.	0.26%	4,404	$654K	Reduce -0.4%
DASH DoorDash Inc. Class A	0.23%	3,173	$580K	Add +6.8%
COST Costco Wholesale Corp.	0.22%	592	$560K	Add +2.3%
BLK BlackRock Inc.	0.22%	584	$553K	Reduce -6.3%
CAH Cardinal Health Inc.	0.21%	3,969	$547K	No change
VTR Ventas Inc.	0.21%	7,859	$540K	Reduce -1.1%
LMT Lockheed Martin Corp.	0.21%	1,201	$536K	Reduce -0.2%
LLY Eli Lilly & Co.	0.21%	649	$536K	Add +3.2%
WMT Walmart Inc.	0.21%	6,062	$532K	Add +0.7%
ADC Agree Realty Corp.	0.21%	6,824	$527K	Reduce -1.0%
NNN NNN REIT Inc.	0.20%	12,187	$520K	Add +0.8%
CDP Copt Defense Properties	0.19%	17,378	$474K	Reduce -1.0%
BAM Brookfield Asset Mgmt-A	0.19%	9,729	$471K	Reduce -0.1%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL	0.19%	6,576	$471K	Reduce -0.8%
ABT Abbott Laboratories	0.19%	3,548	$471K	Reduce -0.4%
LAMR Lamar Advertising Co. Class A	0.18%	4,083	$465K	Add +0.6%
HHH Howard Hughes Holdings Inc.	0.18%	6,051	$448K	Reduce -0.8%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	0.18%	6,269	$446K	Add +0.1%
BX Blackstone Inc.	0.17%	3,163	$442K	Reduce -11.2%
PLD Prologis Inc.	0.17%	3,950	$442K	Reduce -0.6%
PSMT Pricesmart Inc.	0.17%	5,000	$439K	No change
AFL Aflac Inc.	0.17%	3,946	$439K	Add +0.2%
CVX Chevron Corp.	0.17%	2,622	$439K	Reduce -1.7%
CUBE Cubesmart	0.17%	10,168	$434K	Add +1.2%
JBGS JBG Smith Properties	0.17%	26,910	$434K	Reduce -0.4%
ELS Equity Lifestyle Properties	0.17%	6,468	$431K	Reduce -1.0%
CCI Crown Castle Inc.	0.16%	4,012	$418K	Reduce -0.4%
NTST Netstreit Corp.	0.16%	26,050	$413K	Reduce -0.5%
PG The Procter & Gamble Co.	0.16%	2,394	$408K	Add +12.7%
SCHX Schwab US Large-Cap ETF	0.16%	18,010	$398K	Reduce -0.1%
JOE The St Joe Co.	0.16%	8,439	$396K	Reduce -0.9%
AEP American Electric Power	0.15%	3,522	$385K	Reduce -0.1%
SPYM Ste STR SPDR PT S&P 500 ETF	0.15%	5,682	$374K	Add +58.6%
STX Seagate Technology Holdings	0.14%	4,142	$352K	Add +0.1%
ARE Alexandria Real Estate Equit	0.14%	3,794	$351K	Reduce -0.0%
PAYX Paychex Inc.	0.13%	2,220	$343K	Add +1.9%
CAT Caterpillar Inc.	0.13%	1,038	$342K	Add +0.4%
V Visa Inc. Class A	0.13%	958	$336K	Reduce -8.0%
PKG Packaging Corp. of America	0.13%	1,664	$330K	Add +1.2%
PANW Palo Alto Networks Inc.	0.13%	1,908	$326K	Add +2.8%
EPD Enterprise Products Partners	0.13%	9,349	$319K	No change
PPL PPL Corp.	0.12%	8,722	$315K	Add +0.1%
TXN Texas Instruments Inc.	0.12%	1,742	$313K	Add +0.6%
VZ Verizon Communications Inc.	0.12%	6,830	$310K	No change
CEF Sprott Physical Gold and Sil	0.12%	10,606	$301K	No change
MRK Merck & Co. Inc.	0.12%	3,352	$301K	Add +1.4%
MDT Medtronic PLC	0.12%	3,263	$293K	Reduce -8.6%
APD Air Products & Chemicals Inc.	0.11%	951	$280K	No change
KDP Keurig Dr Pepper Inc.	0.11%	7,864	$269K	No change
LULU Lululemon Athletica Inc.	0.11%	950	$269K	Add +1.6%
LHX L3HARRIS Technologies Inc.	0.10%	1,271	$266K	Add +2.0%
NEE Nextera Energy Inc.	0.10%	3,721	$264K	Add +0.5%
NEM Newmont Corp.	0.10%	5,378	$260K	New
FTI Technipfmc PLC	0.09%	7,500	$238K	No change
MAIN Main Street Capital Corp.	0.09%	4,170	$236K	No change
SILA Sila Realty Trust Inc.	0.09%	8,804	$235K	Reduce -17.5%
BMY Bristol-Myers Squibb Co.	0.09%	3,749	$229K	Add +0.0%
ILMN Illumina Inc.	0.09%	2,853	$226K	Reduce -79.3%
MGK Vngrd Mrgstr MG CP GR ETF-Ui	0.09%	717	$221K	No change
IWB iShares Russell 1000 ETF	0.09%	717	$220K	No change
AVGO Broadcom Inc.	0.09%	1,305	$218K	Add +14.5%
NOC Northrop Grumman Corp.	0.09%	426	$218K	New
VOO Vanguard S&P 500 ETF	0.08%	418	$215K	New
FSK FS KKR Capital Corp.	0.08%	10,105	$212K	Reduce -9.7%
VWO Vanguard Ftse Emerging Marke	0.08%	4,674	$212K	New
GOOGL Alphabet Inc. Class A	0.08%	1,352	$209K	Reduce -3.8%
KKR KKR & Co. Inc.	0.08%	1,767	$204K	No change
IVV iShares Core S&P 500 ETF	0.08%	360	$202K	No change
DVN Devon Energy Corp.	0.08%	5,394	$202K	New
ADEA Adeia Inc.	0.07%	12,904	$171K	Add +9.9%
DBRG Digitalbridge Group Inc.	0.04%	11,653	$103K	No change
WTI W&T Offshore Inc.	0.03%	55,000	$85K	No change
EOSE Eos Energy Enterprises Inc.	0.02%	12,450	$47K	Add +24.5%

Portfolio Sells Q4 2024 → Q1 2025


FLOT iShares Floating Rate Bond E	Reduce -59.5%	1.97%	−3.00
PLTR Palantir Technologies Inc. Class A	Reduce -29.1%	4.44%	−1.31
TSLA Tesla Inc.	Reduce -5.0%	1.07%	−0.73
ILMN Illumina Inc.	Reduce -79.3%	0.09%	−0.65
MRVL Marvell Technology Inc.	Sold out	0.00%	−0.57
RH RH	Reduce -10.2%	0.49%	−0.45
RSP Invesco S&P 500 Equal Weight	Sold out	0.00%	−0.32
JEF Jefferies Financial Group Inc.	Reduce -0.1%	0.41%	−0.20
IQV Iqvia Holdings Inc.	Reduce -5.5%	0.75%	−0.16
AAPL Apple Inc.	Reduce -0.2%	0.94%	−0.15
AMAT Applied Materials Inc.	Reduce -6.4%	0.58%	−0.13
BIP Brookfield Infrastructure Pa	Sold out	0.00%	−0.10
DIS The Walt Disney Co.	Sold out	0.00%	−0.10
BA The Boeing Co.	Reduce -17.8%	0.31%	−0.09
VBR Vngrd Mrngst SL-CP Val ETF-U	Sold out	0.00%	−0.09
HON Honeywell International Inc.	Sold out	0.00%	−0.08
BX Blackstone Inc.	Reduce -11.2%	0.17%	−0.07
AMZN Amazon.com Inc.	Reduce -4.1%	0.30%	−0.07
BIPC Brookfield Infrastructure-A	Reduce -1.6%	0.46%	−0.07
META Meta Platforms Inc. Class A	Reduce -14.2%	0.28%	−0.06
MSFT Microsoft Corp.	Reduce -1.4%	0.26%	−0.04
BLK BlackRock Inc.	Reduce -6.3%	0.22%	−0.04
PECO Phillips Edison & Company Inc.	Reduce -6.4%	0.30%	−0.04
CDP Copt Defense Properties	Reduce -1.0%	0.19%	−0.03
SPG Simon Property Group Inc.	Reduce -0.6%	0.45%	−0.03
BAM Brookfield Asset Mgmt-A	Reduce -0.1%	0.19%	−0.03
GOOGL Alphabet Inc. Class A	Reduce -3.8%	0.08%	−0.03
LMT Lockheed Martin Corp.	Reduce -0.2%	0.21%	−0.02
MU Micron Technology Inc.	Reduce -4.3%	0.60%	−0.02
FSK FS KKR Capital Corp.	Reduce -9.7%	0.08%	−0.01
HHH Howard Hughes Holdings Inc.	Reduce -0.8%	0.18%	−0.01
SCHX Schwab US Large-Cap ETF	Reduce -0.1%	0.16%	−0.01
SILA Sila Realty Trust Inc.	Reduce -17.5%	0.09%	−0.01
BEPC Brookfield Renewable Corp.	Reduce -1.1%	0.43%	−0.01
ARE Alexandria Real Estate Equit	Reduce -0.0%	0.14%	−0.01
EXR Extra Space Storage Inc.	Reduce -0.4%	0.26%	−0.01
VMRK Vivmark Residential	Reduce -0.8%	0.19%	−0.01
ELS Equity Lifestyle Properties	Reduce -1.0%	0.17%	−0.01
V Visa Inc. Class A	Reduce -8.0%	0.13%	−0.00
MDT Medtronic PLC	Reduce -8.6%	0.12%	+0.00
JOE The St Joe Co.	Reduce -0.9%	0.16%	+0.00
JBGS JBG Smith Properties	Reduce -0.4%	0.17%	+0.00
PLD Prologis Inc.	Reduce -0.6%	0.17%	+0.00
ADC Agree Realty Corp.	Reduce -1.0%	0.21%	+0.01
NTST Netstreit Corp.	Reduce -0.5%	0.16%	+0.01
CVX Chevron Corp.	Reduce -1.7%	0.17%	+0.02
CCI Crown Castle Inc.	Reduce -0.4%	0.16%	+0.02
AEP American Electric Power	Reduce -0.1%	0.15%	+0.02
ABT Abbott Laboratories	Reduce -0.4%	0.19%	+0.02
VTR Ventas Inc.	Reduce -1.1%	0.21%	+0.02

Portfolio Buys Q4 2024 → Q1 2025


BSCT Invesco Bulletshares 2029 CB	New	2.14%	+2.14
CGMS Cap Group US Multi-Sect Bond	New	2.13%	+2.13
USFR Wisdomtree Floating Rate Tre	Add +12.5%	13.75%	+1.22
DG Dollar General Corp.	New	0.77%	+0.77
MELI MercadoLibre Inc.	New	0.64%	+0.64
GTLB Gitlab Inc. Class A	New	0.57%	+0.57
MRP Millrose Properties	Add +61.0%	0.76%	+0.28
IBTI iShares Ibonds Dec 2028 Term	Add +11.0%	2.16%	+0.20
AGG iShares Core U.S. Aggregate	Add +116.3%	0.33%	+0.18
STWD Starwood Property Trust Inc.	Add +11.7%	1.28%	+0.15
CARR Carrier Global Corp.	Add +43.3%	0.58%	+0.13
BSCS Invesco Bulletshares 2028 CB	Add +8.0%	2.18%	+0.13
VEA Vanguard Ftse Developed ETF	Add +59.9%	0.29%	+0.12
ICE Intercontinental Exchange Inc.	Add +4.5%	0.73%	+0.11
BSCR Invesco Bulletshares 2027 CB	Add +7.4%	2.17%	+0.11
VTI VG Morningstar TS MKT ETF-US	Add +73.0%	0.29%	+0.11
AA Alcoa Corp.	Add +65.7%	0.45%	+0.11
NEM Newmont Corp.	New	0.10%	+0.10
IR Ingersoll-Rand Inc.	Add +36.9%	0.65%	+0.10
BSCQ Invesco Bulletshares 2026 CB	Add +7.1%	2.16%	+0.10
BAX Baxter International Inc.	Add +7.7%	0.48%	+0.09
NOC Northrop Grumman Corp.	New	0.09%	+0.09
VOO Vanguard S&P 500 ETF	New	0.08%	+0.08
VWO Vanguard Ftse Emerging Marke	New	0.08%	+0.08
DVN Devon Energy Corp.	New	0.08%	+0.08
CCK Crown Holdings Inc.	Add +6.1%	0.66%	+0.07
OXY Occidental Petroleum Corp.	Add +10.1%	0.77%	+0.05
PFXF Vaneck Pref Sec X-Financials	Add +7.3%	3.03%	+0.05
SCHW Schwab (charles) Corp.	Add +2.4%	0.90%	+0.05
SPYM Ste STR SPDR PT S&P 500 ETF	Add +58.6%	0.15%	+0.05
VICI Vici Properties Inc.	Add +0.4%	0.35%	+0.03
WRB WR Berkley Corp.	Add +0.1%	0.18%	+0.03
DASH DoorDash Inc. Class A	Add +6.8%	0.23%	+0.03
MS Morgan Stanley	Add +15.9%	0.49%	+0.02
PHG Koninklijke Philips NVR- NY	Add +6.5%	0.56%	+0.02
XOM Exxon Mobil Corp.	Add +0.5%	0.28%	+0.02
PG The Procter & Gamble Co.	Add +12.7%	0.16%	+0.02
MCD McDonald's Corp.	Add +0.3%	0.29%	+0.02
LLY Eli Lilly & Co.	Add +3.2%	0.21%	+0.01
OBDC Blue Owl Capital Corp.	Add +7.2%	1.06%	+0.01
PAYX Paychex Inc.	Add +1.9%	0.13%	+0.01
LH Labcorp Holdings Inc.	Add +2.7%	0.62%	+0.01
PPL PPL Corp.	Add +0.1%	0.12%	+0.01
APG Api Group Corp.	Add +4.1%	0.93%	+0.01
AFL Aflac Inc.	Add +0.2%	0.17%	+0.01
COST Costco Wholesale Corp.	Add +2.3%	0.22%	+0.01
NNN NNN REIT Inc.	Add +0.8%	0.20%	+0.01
BMY Bristol-Myers Squibb Co.	Add +0.0%	0.09%	+0.00
ADEA Adeia Inc.	Add +9.9%	0.07%	+0.00
JPM JPMorgan Chase & Co.	Add +0.5%	0.34%	+0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	134	$302.4M	USFR, HD, NOBL, CGMS, IBTI
Q1 2026	118	$277.1M	USFR, HD, CGMS, CLOX, LEN
Q4 2025	113	$284.8M	USFR, HD, LEN, CGMS, PLTR
Q3 2025	104	$237.2M	HD, USFR, PLTR, LEN, CLOZ
Q2 2025	154	$285.2M	USFR, HD, PLTR, LEN, PFXF
Q1 2025	150	$254.3M	USFR, HD, LEN, PLTR, PFXF
Q4 2024	145	$248.0M	USFR, HD, PLTR, FLOT, LEN
Q3 2024	167	$259.1M	USFR, HD, LEN, PLTR, FLOT
Q2 2024	163	$237.1M	USFR, HD, LEN, PLTR, FLOT
Q1 2024	157	$241.9M	USFR, HD, LEN, PLTR, FLOT