Carnegie Lake Advisors LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), Carnegie Lake Advisors LLC reported 163 stock positions worth $247.8 million. Its top holding was Microsoft (MSFT) at 5.6% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 5.6%) and Unitedhealth (UNH, 5.3%). Compared with Q3 2024, it opened 10 new positions, sold out of 4, added to 24 and reduced 44. The biggest buy was a new position in Wesco International (WCC) and the biggest sale CNX Resources (CNX, shares −43%).

Most Recent 13F
Q2 2026
Location
PRINCETON, NJ
CIK
0002043591
Portfolio Value
$247.8M (Q4 2024)
SEC Filing
0002043591-25-000001 ↗ filed Jan 29, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q3 2024: $252.7M Q3 2024 Q4 2024: $247.8M $247.8M Q4 2024 Q1 2025: $246.4M Q1 2025 Q2 2025: $252.6M Q2 2025 Q3 2025: $259.9M Q3 2025 Q4 2025: $262.6M Q4 2025 Q1 2026: $249.8M Q1 2026 Q2 2026: $268.2M Q2 2026

Holdings 163 stocks · $247.8M
MSFT Microsoft Corp. 5.63% 33,124 $14.0M No change
BRK.B Berkshire Hathaway Inc. Class B 5.55% 30,350 $13.8M Reduce -1.5%
UNH Unitedhealth Group Inc. 5.28% 25,846 $13.1M No change
AAPL Apple Inc. 5.13% 50,760 $12.7M Reduce -14.9%
SYK Stryker Corp. 3.97% 27,304 $9.8M Reduce -0.5%
AMGN Amgen Inc. 2.46% 23,345 $6.1M No change
GOOG Alphabet Inc. Class C 2.33% 30,355 $5.8M No change
HD Home Depot Inc. 2.31% 14,710 $5.7M No change
COST Costco Wholesale Corp. 2.26% 6,121 $5.6M No change
PH Parker Hannifin Corp. 2.21% 8,624 $5.5M Reduce -3.6%
JPM JPMorgan Chase & Co. 2.06% 21,334 $5.1M Reduce -2.6%
CNX CNX Resources Corp. 2.02% 136,250 $5.0M Reduce -42.5%
ISRG Intuitive Surgical Inc. 1.91% 9,075 $4.7M No change
INGR Ingredion Inc. 1.71% 30,725 $4.2M Reduce -1.8%
AMZN Amazon.com Inc. 1.47% 16,564 $3.6M Reduce -0.6%
CSCO Cisco Systems Inc. 1.35% 56,713 $3.4M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.35% 29,985 $3.3M Reduce -0.8%
WCC Wesco International Inc. 1.30% 17,850 $3.2M New
NKE Nike Inc. Class B 1.13% 36,985 $2.8M Add +93.1%
BN Brookfield Corp. 1.10% 47,590 $2.7M No change
WMT Walmart Inc. 1.10% 30,081 $2.7M No change
CVX Chevron Corp. 1.09% 18,600 $2.7M No change
GOOGL Alphabet Inc. Class A 0.97% 12,735 $2.4M No change
JNJ Johnson & Johnson 0.94% 16,169 $2.3M No change
NOBL Proshares S&P 500 Dividend A 0.94% 23,447 $2.3M Add +0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.94% 52,782 $2.3M Reduce -0.9%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.93% 29,991 $2.3M Reduce -35.5%
PG The Procter & Gamble Co. 0.84% 12,415 $2.1M Reduce -3.9%
BLDR Builders Firstsource Inc. 0.84% 14,528 $2.1M No change
WMB Williams Cos Inc. 0.83% 38,032 $2.1M Reduce -0.5%
OCSL Oaktree Specialty Lending Co. 0.83% 134,042 $2.0M Reduce -0.3%
PFS Provident Financial Services 0.83% 108,457 $2.0M No change
KO The Coca-Cola Co. 0.82% 32,680 $2.0M Reduce -2.4%
GPK Graphic Packaging Holding Co. 0.81% 73,550 $2.0M Reduce -5.9%
MCD McDonald's Corp. 0.79% 6,749 $2.0M No change
AVGO Broadcom Inc. 0.79% 8,431 $2.0M Reduce -8.9%
UHAL.B U-Haul Holding Co.-Non Voting 0.79% 30,430 $1.9M Add +3.8%
PEP Pepsico Inc. 0.76% 12,424 $1.9M No change
WSC Willscot Holdings Corp. 0.74% 54,580 $1.8M Add +0.5%
NVO Novo-Nordisk A/S-Spons ADR 0.70% 20,250 $1.7M No change
KMI Kinder Morgan Inc. 0.70% 63,470 $1.7M Reduce -1.0%
BX Blackstone Inc. 0.67% 9,655 $1.7M No change
PFE Pfizer Inc. 0.67% 62,364 $1.7M Add +1.3%
AZO AutoZone Inc. 0.65% 500 $1.6M No change
TEVA Teva Pharmaceutical-SP ADR 0.61% 68,950 $1.5M No change
ADP Automatic Data Processing 0.58% 4,894 $1.4M No change
STWD Starwood Property Trust Inc. 0.58% 75,269 $1.4M Add +0.6%
ARCC Ares Capital Corp. 0.57% 64,599 $1.4M Add +0.6%
BMY Bristol-Myers Squibb Co. 0.55% 24,059 $1.4M No change
CRM Salesforce Inc. 0.54% 4,020 $1.3M No change
FSK FS KKR Capital Corp. 0.53% 60,250 $1.3M Reduce -1.6%
ENB Enbridge Inc. 0.52% 30,420 $1.3M No change
MDT Medtronic PLC 0.52% 16,156 $1.3M Add +0.9%
T AT&T Inc. 0.50% 54,488 $1.2M Reduce -1.0%
BA The Boeing Co. 0.50% 6,936 $1.2M Reduce -38.2%
CWH Camping World Holdings Inc. Class A 0.49% 57,478 $1.2M Reduce -0.5%
META Meta Platforms Inc. Class A 0.48% 2,020 $1.2M Reduce -4.7%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.46% 10,035 $1.1M No change
ARMK Aramark 0.46% 30,350 $1.1M No change
PBH Prestige Consumer Healthcare 0.45% 14,400 $1.1M No change
INVH Invitation Homes Inc. 0.45% 34,957 $1.1M Add +1.4%
UTG Reaves Utility Income Fund 0.45% 34,975 $1.1M Reduce -0.4%
OEC Orion SA 0.44% 69,461 $1.1M Add +72.1%
WBD Warner Bros Discovery Inc. 0.44% 103,291 $1.1M Reduce -4.7%
RSG Republic Services Inc. 0.43% 5,300 $1.1M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.41% 4,600 $1.0M No change
MRK Merck & Co. Inc. 0.40% 9,982 $993K No change
WFC Wells Fargo & Co. 0.40% 14,018 $985K Reduce -5.1%
EOG EOG Resources Inc. 0.40% 8,000 $981K No change
CB Chubb Ltd. 0.38% 3,425 $946K No change
SEE Sealed Air Corp. 0.38% 27,781 $940K Add +0.5%
SKYY First Trust Cloud Computing 0.37% 7,730 $921K Add +0.3%
WPC WP Carey Inc. 0.36% 16,565 $902K Add +3.3%
MHK Mohawk Industries Inc. 0.36% 7,550 $899K No change
UPS United Parcel Service Class B 0.36% 7,005 $883K Add +13.9%
GE General Electric filed as GE AEROSPACE 0.35% 5,239 $874K No change
VZ Verizon Communications Inc. 0.35% 21,448 $858K No change
LBRDK Liberty Broadband-C 0.34% 11,285 $844K No change
VTI VG Morningstar TS MKT ETF-US 0.31% 2,637 $764K No change
ZTS Zoetis Inc. 0.30% 4,574 $745K No change
C Citigroup Inc. 0.28% 9,777 $688K Add +26.4%
MTG Mgic Investment Corp. 0.28% 28,829 $684K Reduce -1.7%
NVDA Nvidia Corp. 0.27% 5,035 $676K Reduce -44.0%
KIO KKR Income Opportunities 0.27% 50,023 $669K No change
BAM Brookfield Asset Mgmt-A 0.27% 12,301 $667K No change
LMT Lockheed Martin Corp. 0.26% 1,350 $656K No change
JEPI JPMorgan Equity Premium Inco 0.25% 10,955 $630K Reduce -9.1%
CC The Chemours Co. 0.25% 36,196 $612K No change
ZBH Zimmer Biomet Holdings Inc. 0.25% 5,796 $612K No change
XOM Exxon Mobil Corp. 0.24% 5,588 $601K No change
PSLV Sprott Physical Silver Trust 0.24% 62,100 $599K Add +0.3%
STT State Street Corp. 0.24% 5,985 $587K No change
LILAK Liberty Latin Americ Class C 0.23% 89,227 $566K Reduce -4.7%
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.23% 29,946 $565K No change
INTC Intel Corp. 0.23% 27,999 $561K Add +0.4%
UHAL U-Haul Holding Co. 0.22% 8,020 $554K Reduce -6.4%
APA Apa Corp. 0.21% 22,850 $528K New
VYM Vanguard High DVD Yield ETF 0.21% 4,129 $527K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.21% 889 $521K No change
DEO Diageo PLC-Sponsored ADR 0.20% 3,900 $496K No change
WH Wyndham Hotels & Resorts Inc. 0.20% 4,926 $496K Reduce -16.9%
TD Toronto-Dominion Bank 0.19% 9,081 $483K No change
XLF SS Financial Select Sector 0.19% 9,823 $475K Add +84.8%
GDX Vaneck Gold Miners ETF 0.18% 12,910 $438K Add +1.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.18% 1,066 $438K No change
CMCSA Comcast Corp. Class A 0.18% 11,596 $435K No change
CGGR Cap Group Growth Equity 0.17% 11,641 $433K Add +44.1%
MKL Markel Group Inc. 0.17% 250 $432K No change
GEV GE Vernova Inc. 0.17% 1,308 $430K No change
GGN Gamco GLBL Gold NTRL Res Inc. 0.17% 111,139 $419K Add +1.8%
BAX Baxter International Inc. 0.17% 14,275 $416K Add +65.5%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.17% 7,360 $415K Reduce -11.2%
VTRS Viatris Inc. 0.17% 33,096 $412K Reduce -6.4%
BHP BHP Group Ltd.-Spon ADR 0.16% 8,200 $400K Reduce -1.2%
GLPI Gaming and Leisure Propertie 0.15% 7,511 $362K No change
RITM Rithm Capital Corp. 0.14% 31,775 $344K No change
SOFI Sofi Technologies Inc. 0.13% 21,100 $325K Reduce -17.4%
BDX Becton Dickinson and Co. 0.13% 1,375 $312K No change
ROK Rockwell Automation Inc. 0.12% 1,048 $300K No change
FNV Franco-Nevada Corp. 0.12% 2,500 $294K New
LLY Eli Lilly & Co. 0.12% 371 $286K No change
WM Waste Management Inc. 0.12% 1,412 $285K No change
PEG Public Service Enterprise GP 0.11% 3,336 $282K No change
VMI Valmont Industries 0.11% 900 $276K No change
HPQ HP Inc. 0.11% 8,400 $274K No change
TNL Travel + Leisure Co. 0.11% 5,417 $273K No change
OKE Oneok Inc. 0.11% 2,688 $270K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.11% 1,593 $270K No change
SYY Sysco Corp. 0.11% 3,500 $268K No change
STEW SRH Total Return Fund Inc. 0.11% 16,642 $267K No change
QQQ Invesco QQQ Trust Series 1 0.10% 500 $256K Reduce -5.7%
CG The Carlyle Group Inc. 0.10% 5,015 $253K No change
GEHC GE Healthcare Technology 0.10% 3,236 $253K Reduce -3.7%
EPD Enterprise Products Partners 0.10% 8,000 $251K New
MTB M & T Bank Corp. filed as M & T BK CORP 0.10% 1,313 $247K No change
DEA Easterly Govt Pptys Inc. 0.10% 21,661 $246K Reduce -5.0%
WPM Wheaton Precious Metals Corp. 0.10% 4,265 $240K No change
SYF Synchrony Financial 0.10% 3,683 $239K New
VLY Valley National Bancorp 0.09% 25,862 $234K No change
VSTS Vestis Corp. 0.09% 15,075 $230K No change
PNC PNC Financial Services Group 0.09% 1,180 $228K No change
KDP Keurig Dr Pepper Inc. 0.09% 7,000 $225K No change
XLP SS Consumer Staples Sel Sect 0.09% 2,786 $219K No change
GS Goldman Sachs Group Inc. 0.09% 380 $218K New
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.09% 6,142 $217K Add +7.3%
CHTR Charter Communications Inc. Class A 0.08% 600 $206K New
PHYS Sprott Physical Gold Trust 0.08% 10,200 $205K No change
OXY Occidental Petroleum Corp. 0.08% 4,125 $204K No change
JPEF JPMorgan Equity Focus ETF 0.08% 2,990 $201K New
PGX Invesco Preferred ETF 0.08% 16,552 $191K No change
XAWPX Abrdn Global Premier Propert 0.06% 39,537 $153K No change
FSCO FS Credit Opportunities Corp. 0.06% 21,663 $148K No change
XEFRX Eaton Vance Sr FLTG Rate TR 0.05% 10,361 $133K Reduce -7.9%
F Ford Motor Co. filed as FORD MTR CO 0.05% 13,280 $131K Add +1.9%
MUJ BlackRock Munihold NJ QLTY 0.05% 10,814 $120K No change
PBI Pitney Bowes Inc. 0.04% 14,150 $102K Reduce -5.5%
GCV Gabelli Convert & Inc. Sec 0.03% 22,500 $86K Reduce -4.3%
PSEC Prospect Capital Corp. 0.03% 18,115 $78K Reduce -21.6%
NGD New Gold Inc. 0.03% 30,250 $75K No change
MPT Medical Properties Trust Inc. 0.02% 13,250 $52K Reduce -65.1%
PHK PIMCO High Income Fund 0.02% 10,260 $50K New
GSAT Globalstar Inc. 0.01% 10,000 $21K New
VXRT Vaxart Inc. 0.00% 10,000 $7K No change

Portfolio Sells Q3 2024 → Q4 2024
CNX CNX Resources Corp. Reduce -42.5% 2.02% −1.04
BNY Bank of New York Mellon Corp. Reduce -35.5% 0.93% −0.39
AAPL Apple Inc. Reduce -14.9% 5.13% −0.37
COF Capital One Financial Corp. Sold out 0.00% −0.30
BA The Boeing Co. Reduce -38.2% 0.50% −0.18
NVDA Nvidia Corp. Reduce -44.0% 0.27% −0.16
KO The Coca-Cola Co. Reduce -2.4% 0.82% −0.13
LILAK Liberty Latin Americ Class C Reduce -4.7% 0.23% −0.12
GPK Graphic Packaging Holding Co. Reduce -5.9% 0.81% −0.11
GNRC Generac Holdings Inc. Sold out 0.00% −0.11
MS Morgan Stanley Sold out 0.00% −0.10
CVS CVS Health Corp. Sold out 0.00% −0.08
MPT Medical Properties Trust Inc. Reduce -65.1% 0.02% −0.07
CWH Camping World Holdings Inc. Class A Reduce -0.5% 0.49% −0.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.5% 5.55% −0.06
PG The Procter & Gamble Co. Reduce -3.9% 0.84% −0.05
BHP BHP Group Ltd.-Spon ADR Reduce -1.2% 0.16% −0.04
OCSL Oaktree Specialty Lending Co. Reduce -0.3% 0.83% −0.04
UHAL U-Haul Holding Co. Reduce -6.4% 0.22% −0.04
JEPI JPMorgan Equity Premium Inco Reduce -9.1% 0.25% −0.03
DEA Easterly Govt Pptys Inc. Reduce -5.0% 0.10% −0.02
PH Parker Hannifin Corp. Reduce -3.6% 2.21% −0.02
GEHC GE Healthcare Technology Reduce -3.7% 0.10% −0.02
MTG Mgic Investment Corp. Reduce -1.7% 0.28% −0.02
PSEC Prospect Capital Corp. Reduce -21.6% 0.03% −0.02
JEPQ JPM Nasdaq Equity Premium Reduce -11.2% 0.17% −0.01
UTG Reaves Utility Income Fund Reduce -0.4% 0.45% −0.01
META Meta Platforms Inc. Class A Reduce -4.7% 0.48% −0.00
XEFRX Eaton Vance Sr FLTG Rate TR Reduce -7.9% 0.05% −0.00
PBI Pitney Bowes Inc. Reduce -5.5% 0.04% −0.00
GCV Gabelli Convert & Inc. Sec Reduce -4.3% 0.03% +0.00
QQQ Invesco QQQ Trust Series 1 Reduce -5.7% 0.10% +0.00
VTRS Viatris Inc. Reduce -6.4% 0.17% +0.00
INGR Ingredion Inc. Reduce -1.8% 1.71% +0.01
WH Wyndham Hotels & Resorts Inc. Reduce -16.9% 0.20% +0.02
T AT&T Inc. Reduce -1.0% 0.50% +0.02
SYK Stryker Corp. Reduce -0.5% 3.97% +0.05
FSK FS KKR Capital Corp. Reduce -1.6% 0.53% +0.05
SOFI Sofi Technologies Inc. Reduce -17.4% 0.13% +0.05
WFC Wells Fargo & Co. Reduce -5.1% 0.40% +0.07
WBD Warner Bros Discovery Inc. Reduce -4.7% 0.44% +0.09
BAC Bank of America Corp. Reduce -0.9% 0.94% +0.10
WMB Williams Cos Inc. Reduce -0.5% 0.83% +0.14
KMI Kinder Morgan Inc. Reduce -1.0% 0.70% +0.14
AVGO Broadcom Inc. Reduce -8.9% 0.79% +0.16
DIS The Walt Disney Co. Reduce -0.8% 1.35% +0.20
JPM JPMorgan Chase & Co. Reduce -2.6% 2.06% +0.24
AMZN Amazon.com Inc. Reduce -0.6% 1.47% +0.24

Portfolio Buys Q3 2024 → Q4 2024
WCC Wesco International Inc. New 1.30% +1.30
NKE Nike Inc. Class B Add +93.1% 1.13% +0.46
APA Apa Corp. New 0.21% +0.21
OEC Orion SA Add +72.1% 0.44% +0.16
FNV Franco-Nevada Corp. New 0.12% +0.12
EPD Enterprise Products Partners New 0.10% +0.10
SYF Synchrony Financial New 0.10% +0.10
XLF SS Financial Select Sector Add +84.8% 0.19% +0.10
GS Goldman Sachs Group Inc. New 0.09% +0.09
C Citigroup Inc. Add +26.4% 0.28% +0.09
CHTR Charter Communications Inc. Class A New 0.08% +0.08
JPEF JPMorgan Equity Focus ETF New 0.08% +0.08
CGGR Cap Group Growth Equity Add +44.1% 0.17% +0.06
SKYY First Trust Cloud Computing Add +0.3% 0.37% +0.06
BAX Baxter International Inc. Add +65.5% 0.17% +0.04
ARCC Ares Capital Corp. Add +0.6% 0.57% +0.04
UPS United Parcel Service Class B Add +13.9% 0.36% +0.02
PHK PIMCO High Income Fund New 0.02% +0.02
GSAT Globalstar Inc. New 0.01% +0.01
CGDV Cap Group Dividend Value Add +7.3% 0.09% +0.00
F Ford Motor Co. Add +1.9% 0.05% −0.00
PSLV Sprott Physical Silver Trust Add +0.3% 0.24% −0.01
GGN Gamco GLBL Gold NTRL Res Inc. Add +1.8% 0.17% −0.02
SEE Sealed Air Corp. Add +0.5% 0.38% −0.02
GDX Vaneck Gold Miners ETF Add +1.2% 0.18% −0.02
STWD Starwood Property Trust Inc. Add +0.6% 0.58% −0.03
INVH Invitation Homes Inc. Add +1.4% 0.45% −0.03
WPC WP Carey Inc. Add +3.3% 0.36% −0.03
INTC Intel Corp. Add +0.4% 0.23% −0.03
PFE Pfizer Inc. Add +1.3% 0.67% −0.04
NOBL Proshares S&P 500 Dividend A Add +0.3% 0.94% −0.05
UHAL.B U-Haul Holding Co.-Non Voting Add +3.8% 0.79% −0.05
MDT Medtronic PLC Add +0.9% 0.52% −0.05
WSC Willscot Holdings Corp. Add +0.5% 0.74% −0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 167$268.2MAAPL, BRK.B, MSFT, UNH, SYK
Q1 2026 165$249.8MAAPL, BRK.B, MSFT, SYK, AMGN
Q4 2025 165$262.6MMSFT, AAPL, BRK.B, SYK, GOOG
Q3 2025 166$259.9MMSFT, BRK.B, AAPL, SYK, UNH
Q2 2025 163$252.6MMSFT, BRK.B, SYK, AAPL, UNH
Q1 2025 162$246.4MBRK.B, UNH, MSFT, AAPL, SYK
Q4 2024 163$247.8MMSFT, BRK.B, UNH, AAPL, SYK
Q3 2024 157$252.7MUNH, MSFT, BRK.B, AAPL, SYK