Carnegie Lake Advisors LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Carnegie Lake Advisors LLC reported 163 stock positions worth $252.6 million. Its top holding was Microsoft (MSFT) at 5.6% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 5.2%) and Stryker (SYK, 4.3%). Compared with Q1 2025, it opened 9 new positions, sold out of 8, added to 27 and reduced 61. The biggest buy was Wesco International (WCC, shares +24%) and the biggest sale Unitedhealth (UNH, shares −1%).

Most Recent 13F
Q2 2026
Location
PRINCETON, NJ
CIK
0002043591
Portfolio Value
$252.6M (Q2 2025)
SEC Filing
0002043591-25-000004 ↗ filed Aug 6, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q3 2024: $252.7M Q3 2024 Q4 2024: $247.8M Q4 2024 Q1 2025: $246.4M Q1 2025 Q2 2025: $252.6M $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 · $252.6M
MSFT Microsoft Corp. 5.65% 28,669 $14.3M Reduce -12.1%
BRK.B Berkshire Hathaway Inc. Class B 5.18% 26,930 $13.1M Reduce -4.8%
SYK Stryker Corp. 4.28% 27,304 $10.8M No change
AAPL Apple Inc. 4.06% 49,942 $10.2M Reduce -0.5%
UNH Unitedhealth Group Inc. 3.02% 24,466 $7.6M Reduce -0.7%
AMGN Amgen Inc. 2.58% 23,345 $6.5M No change
JPM JPMorgan Chase & Co. 2.43% 21,174 $6.1M Reduce -1.3%
PH Parker Hannifin Corp. 2.41% 8,731 $6.1M Add +0.9%
COST Costco Wholesale Corp. 2.35% 5,992 $5.9M Reduce -0.5%
WCC Wesco International Inc. 2.30% 31,342 $5.8M Add +24.5%
HD Home Depot Inc. 2.14% 14,733 $5.4M Add +0.4%
GOOG Alphabet Inc. Class C 2.00% 28,447 $5.0M Reduce -1.4%
ISRG Intuitive Surgical Inc. 1.95% 9,075 $4.9M No change
CNX CNX Resources Corp. 1.77% 132,875 $4.5M Reduce -1.3%
INGR Ingredion Inc. 1.64% 30,475 $4.1M Reduce -0.8%
CSCO Cisco Systems Inc. 1.52% 55,223 $3.8M Reduce -0.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.51% 30,665 $3.8M Reduce -2.7%
AMZN Amazon.com Inc. 1.33% 15,314 $3.4M Reduce -1.3%
WSC Willscot Holdings Corp. 1.32% 121,235 $3.3M Add +47.9%
BN Brookfield Corp. 1.17% 47,590 $2.9M No change
WMT Walmart Inc. 1.16% 30,081 $2.9M No change
NKE Nike Inc. Class B 1.12% 39,735 $2.8M Add +0.6%
CVX Chevron Corp. 1.05% 18,514 $2.7M Reduce -0.5%
NOBL Proshares S&P 500 Dividend A 1.03% 25,881 $2.6M Add +10.2%
JNJ Johnson & Johnson 0.93% 15,419 $2.4M Reduce -4.6%
KO The Coca-Cola Co. 0.93% 33,180 $2.3M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.91% 48,414 $2.3M Reduce -8.5%
WMB Williams Cos Inc. 0.90% 36,300 $2.3M No change
AVGO Broadcom Inc. 0.90% 8,211 $2.3M Reduce -0.2%
GOOGL Alphabet Inc. Class A 0.89% 12,735 $2.2M No change
FERG Ferguson Enterprises Inc. 0.89% 10,305 $2.2M No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.86% 23,748 $2.2M Reduce -15.2%
OEC Orion SA 0.83% 198,741 $2.1M Add +6.4%
MCD McDonald's Corp. 0.78% 6,749 $2.0M No change
PG The Procter & Gamble Co. 0.75% 11,849 $1.9M Reduce -4.6%
PFS Provident Financial Services 0.75% 107,457 $1.9M Reduce -0.9%
OCSL Oaktree Specialty Lending Co. 0.72% 133,542 $1.8M No change
KMI Kinder Morgan Inc. 0.70% 60,110 $1.8M Reduce -4.1%
TEVA Teva Pharmaceutical-SP ADR 0.69% 103,850 $1.7M Add +21.7%
BLDR Builders Firstsource Inc. 0.67% 14,528 $1.7M No change
UHAL.B U-Haul Holding Co.-Non Voting 0.67% 31,130 $1.7M Add +0.3%
PEP Pepsico Inc. 0.65% 12,424 $1.6M No change
AZO AutoZone Inc. 0.63% 428 $1.6M Add +4.9%
GPK Graphic Packaging Holding Co. 0.62% 74,850 $1.6M Add +2.5%
STWD Starwood Property Trust Inc. 0.60% 75,619 $1.5M Reduce -0.3%
ADP Automatic Data Processing 0.60% 4,894 $1.5M No change
PFE Pfizer Inc. 0.59% 61,562 $1.5M Reduce -3.8%
ARCC Ares Capital Corp. 0.57% 65,514 $1.4M Add +0.8%
NVO Novo-Nordisk A/S-Spons ADR 0.55% 20,150 $1.4M Reduce -0.5%
RXST Rxsight Inc. 0.55% 107,000 $1.4M New
ENB Enbridge Inc. 0.54% 30,016 $1.4M No change
BA The Boeing Co. 0.54% 6,464 $1.4M Reduce -9.8%
ZTS Zoetis Inc. 0.52% 8,424 $1.3M No change
GE General Electric filed as GE AEROSPACE 0.51% 5,039 $1.3M Reduce -3.8%
BX Blackstone Inc. 0.51% 8,555 $1.3M Reduce -11.4%
ARMK Aramark 0.50% 30,050 $1.3M No change
FSK FS KKR Capital Corp. 0.49% 60,250 $1.3M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.47% 4,000 $1.2M Reduce -13.0%
META Meta Platforms Inc. Class A 0.46% 1,575 $1.2M Reduce -3.7%
RSG Republic Services Inc. 0.45% 4,600 $1.1M Reduce -9.8%
UPS United Parcel Service Class B 0.45% 11,140 $1.1M Add +10.6%
PBH Prestige Consumer Healthcare 0.44% 14,064 $1.1M Reduce -0.7%
LBRDK Liberty Broadband-C 0.44% 11,285 $1.1M No change
WFC Wells Fargo & Co. 0.44% 13,741 $1.1M Reduce -5.8%
INVH Invitation Homes Inc. 0.43% 33,376 $1.1M Reduce -2.4%
CRM Salesforce Inc. 0.42% 3,886 $1.1M No change
BMY Bristol-Myers Squibb Co. 0.42% 22,867 $1.1M Reduce -4.0%
NVDA Nvidia Corp. 0.42% 6,680 $1.1M Reduce -0.5%
UTG Reaves Utility Income Fund 0.41% 28,609 $1.0M Reduce -7.6%
WPC WP Carey Inc. 0.41% 16,525 $1.0M No change
WBD Warner Bros Discovery Inc. 0.41% 89,443 $1.0M Reduce -2.5%
MDT Medtronic PLC 0.40% 11,556 $1.0M Reduce -28.5%
NOW ServiceNow Inc. 0.39% 964 $991K New
EOG EOG Resources Inc. 0.39% 8,198 $981K Add +7.9%
CB Chubb Ltd. 0.39% 3,375 $978K Reduce -1.5%
CWH Camping World Holdings Inc. Class A 0.39% 56,678 $974K Reduce -0.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.38% 10,035 $968K No change
SKYY First Trust Cloud Computing 0.37% 7,780 $946K No change
C Citigroup Inc. 0.36% 10,778 $917K Reduce -3.5%
COLD Americold Realty Trust Inc. 0.36% 54,500 $906K New
SEE Sealed Air Corp. 0.34% 27,616 $857K No change
JEPI JPMorgan Equity Premium Inco 0.34% 14,994 $852K Add +62.6%
MTG Mgic Investment Corp. 0.33% 29,579 $823K Add +2.6%
VTI VG Morningstar TS MKT ETF-US 0.32% 2,639 $802K Add +0.1%
MHK Mohawk Industries Inc. 0.31% 7,550 $792K No change
T AT&T Inc. 0.30% 26,450 $765K Reduce -20.6%
PSLV Sprott Physical Silver Trust 0.30% 62,000 $759K Reduce -2.0%
XLF SS Financial Select Sector 0.28% 13,423 $703K Add +25.5%
MRK Merck & Co. Inc. 0.28% 8,832 $699K Reduce -7.8%
BAM Brookfield Asset Mgmt-A 0.27% 12,301 $680K No change
GDX Vaneck Gold Miners ETF 0.27% 12,900 $672K Reduce -0.5%
GEV GE Vernova Inc. 0.26% 1,264 $669K Reduce -3.4%
STT State Street Corp. 0.25% 5,985 $636K No change
LMT Lockheed Martin Corp. 0.25% 1,350 $625K No change
KIO KKR Income Opportunities 0.24% 48,324 $607K Reduce -3.4%
XOM Exxon Mobil Corp. 0.24% 5,588 $602K No change
SYY Sysco Corp. 0.24% 7,850 $595K Add +2.6%
INTC Intel Corp. 0.23% 26,148 $586K Reduce -8.4%
VUG Vanguard Mrngstar GR ETF-Sui 0.23% 1,333 $584K Add +17.9%
CGGR Cap Group Growth Equity 0.22% 13,576 $552K Add +5.4%
VYM Vanguard High DVD Yield ETF 0.21% 4,038 $538K Reduce -2.2%
TD Toronto-Dominion Bank 0.21% 7,299 $536K Reduce -19.6%
VZ Verizon Communications Inc. 0.21% 12,243 $530K Reduce -41.7%
LILAK Liberty Latin Americ Class C 0.21% 84,627 $526K Reduce -1.7%
BAX Baxter International Inc. 0.21% 17,250 $522K Add +2.2%
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.20% 29,946 $503K No change
MKL Markel Group Inc. 0.20% 250 $499K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.19% 789 $487K Reduce -11.3%
UHAL U-Haul Holding Co. 0.19% 7,820 $474K Reduce -2.5%
GGN Gamco GLBL Gold NTRL Res Inc. 0.19% 107,981 $474K Reduce -5.2%
PTLC Pacer Trendpilot US Large Ca 0.17% 8,654 $439K New
APA Apa Corp. 0.17% 23,050 $422K No change
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.17% 7,690 $418K Add +2.3%
CC The Chemours Co. 0.16% 36,196 $414K No change
CMCSA Comcast Corp. Class A 0.16% 11,596 $414K No change
FNV Franco-Nevada Corp. 0.16% 2,500 $410K No change
SOFI Sofi Technologies Inc. 0.16% 21,700 $395K No change
WPM Wheaton Precious Metals Corp. 0.15% 4,265 $383K No change
ZBH Zimmer Biomet Holdings Inc. 0.14% 3,972 $362K Reduce -31.5%
RITM Rithm Capital Corp. 0.14% 31,775 $359K No change
GLPI Gaming and Leisure Propertie 0.14% 7,511 $351K No change
ROK Rockwell Automation Inc. 0.14% 1,048 $348K No change
WM Waste Management Inc. 0.13% 1,412 $323K No change
IVV iShares Core S&P 500 ETF 0.12% 495 $307K New
VMI Valmont Industries 0.12% 900 $294K No change
CALF PCR US SM CP CSH CWS ETF-Usd 0.12% 7,337 $292K New
DEA Easterly Government Properti 0.11% 13,064 $290K Add +84.9%
LLY Eli Lilly & Co. 0.11% 371 $289K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.11% 1,593 $282K No change
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.11% 7,093 $280K Add +0.0%
TNL Travel + Leisure Co. 0.11% 5,417 $280K No change
QQQ Invesco QQQ Trust Series 1 0.11% 500 $276K No change
JPEF JPMorgan Equity Focus ETF 0.10% 3,775 $265K No change
BHP BHP Group Ltd.-Spon ADR 0.10% 5,500 $264K Reduce -36.0%
GEHC GE Healthcare Technology 0.10% 3,559 $264K Add +13.5%
PEG Public Service Enterprise GP 0.10% 3,086 $260K No change
PHYS Sprott Physical Gold Trust 0.10% 10,200 $259K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.10% 1,313 $255K No change
STEW SRH Total Return Fund Inc. 0.10% 14,307 $253K Reduce -11.3%
EPD Enterprise Products Partners 0.10% 8,000 $248K No change
SYF Synchrony Financial 0.10% 3,683 $246K New
BDX Becton Dickinson and Co. 0.10% 1,425 $245K Add +3.6%
CHTR Charter Communications Inc. Class A 0.10% 600 $245K No change
VTRS Viatris Inc. 0.09% 26,596 $238K Reduce -10.1%
WH Wyndham Hotels & Resorts Inc. 0.09% 2,926 $238K No change
KDP Keurig Dr Pepper Inc. 0.09% 7,000 $231K No change
VLY Valley National Bancorp 0.09% 25,862 $231K No change
XLP SS Consumer Staples Sel Sect 0.09% 2,786 $226K No change
OKE Oneok Inc. 0.09% 2,688 $219K No change
AEM Agnico Eagle Mines Ltd. 0.09% 1,814 $216K New
HPQ HP Inc. 0.08% 8,400 $205K No change
NFLX Netflix Inc. 0.08% 150 $201K New
FSCO FS Credit Opportunities Corp. 0.06% 21,663 $157K No change
XAWPX Abrdn Global Premier Propert 0.06% 38,187 $151K Reduce -5.0%
PGX Invesco Preferred ETF 0.06% 12,720 $142K Reduce -2.5%
MUJ BlackRock Munihold NJ QLTY 0.05% 11,814 $129K No change
NGD New Gold Inc. 0.05% 25,250 $125K Reduce -9.0%
CLF Cleveland-Cliffs Inc. 0.04% 12,600 $96K No change
VSTS Vestis Corp. 0.03% 14,925 $86K No change
GCV Gabelli Convert & Inc. Sec 0.03% 20,500 $79K No change
MPT Medical Properties Trust Inc. 0.02% 13,500 $58K No change
PSEC Prospect Capital Corp. 0.02% 12,800 $41K No change
VXRT Vaxart Inc. 0.00% 10,000 $5K No change

Portfolio Sells Q1 2025 → Q2 2025
UNH Unitedhealth Group Inc. Reduce -0.7% 3.02% −2.22
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.8% 5.18% −0.94
AAPL Apple Inc. Reduce -0.5% 4.06% −0.47
CVX Chevron Corp. Reduce -0.5% 1.05% −0.21
MDT Medtronic PLC Reduce -28.5% 0.40% −0.19
VZ Verizon Communications Inc. Reduce -41.7% 0.21% −0.18
BMY Bristol-Myers Squibb Co. Reduce -4.0% 0.42% −0.17
DEO Diageo PLC-Sponsored ADR Sold out 0.00% −0.17
JNJ Johnson & Johnson Reduce -4.6% 0.93% −0.16
ZBH Zimmer Biomet Holdings Inc. Reduce -31.5% 0.14% −0.12
PG The Procter & Gamble Co. Reduce -4.6% 0.75% −0.11
CVS CVS Health Corp. Sold out 0.00% −0.10
BNY Bank of New York Mellon Corp. Reduce -15.2% 0.86% −0.10
GS Goldman Sachs Group Inc. Sold out 0.00% −0.09
OXY Occidental Petroleum Corp. Sold out 0.00% −0.08
V Visa Inc. Class A Sold out 0.00% −0.08
T AT&T Inc. Reduce -20.6% 0.30% −0.08
MRK Merck & Co. Inc. Reduce -7.8% 0.28% −0.07
PFE Pfizer Inc. Reduce -3.8% 0.59% −0.07
BHP BHP Group Ltd.-Spon ADR Reduce -36.0% 0.10% −0.06
F Ford Motor Co. Sold out 0.00% −0.05
RSG Republic Services Inc. Reduce -9.8% 0.45% −0.05
PBI Pitney Bowes Inc. Sold out 0.00% −0.05
INVH Invitation Homes Inc. Reduce -2.4% 0.43% −0.05
PBH Prestige Consumer Healthcare Reduce -0.7% 0.44% −0.05
INGR Ingredion Inc. Reduce -0.8% 1.64% −0.05
AGNC AGNC Investment Corp. Sold out 0.00% −0.04
BX Blackstone Inc. Reduce -11.4% 0.51% −0.04
CB Chubb Ltd. Reduce -1.5% 0.39% −0.03
INTC Intel Corp. Reduce -8.4% 0.23% −0.03
KMI Kinder Morgan Inc. Reduce -4.1% 0.70% −0.03
UHAL U-Haul Holding Co. Reduce -2.5% 0.19% −0.03
NVO Novo-Nordisk A/S-Spons ADR Reduce -0.5% 0.55% −0.02
GGN Gamco GLBL Gold NTRL Res Inc. Reduce -5.2% 0.19% −0.01
STEW SRH Total Return Fund Inc. Reduce -11.3% 0.10% −0.01
VTRS Viatris Inc. Reduce -10.1% 0.09% −0.01
PFS Provident Financial Services Reduce -0.9% 0.75% −0.01
KIO KKR Income Opportunities Reduce -3.4% 0.24% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -11.3% 0.19% −0.01
LILAK Liberty Latin Americ Class C Reduce -1.7% 0.21% −0.01
TD Toronto-Dominion Bank Reduce -19.6% 0.21% −0.01
STWD Starwood Property Trust Inc. Reduce -0.3% 0.60% −0.01
XAWPX Abrdn Global Premier Propert Reduce -5.0% 0.06% −0.00
PGX Invesco Preferred ETF Reduce -2.5% 0.06% −0.00
VYM Vanguard High DVD Yield ETF Reduce -2.2% 0.21% −0.00
UTG Reaves Utility Income Fund Reduce -7.6% 0.41% +0.00
IBM Intl Business Machines Corp. Reduce -13.0% 0.47% +0.00
PSLV Sprott Physical Silver Trust Reduce -2.0% 0.30% +0.00
WBD Warner Bros Discovery Inc. Reduce -2.5% 0.41% +0.01
NGD New Gold Inc. Reduce -9.0% 0.05% +0.01

Portfolio Buys Q1 2025 → Q2 2025
WCC Wesco International Inc. Add +24.5% 2.30% +0.71
RXST Rxsight Inc. New 0.55% +0.55
NOW ServiceNow Inc. New 0.39% +0.39
WSC Willscot Holdings Corp. Add +47.9% 1.32% +0.39
COLD Americold Realty Trust Inc. New 0.36% +0.36
PH Parker Hannifin Corp. Add +0.9% 2.41% +0.28
PTLC Pacer Trendpilot US Large Ca New 0.17% +0.17
TEVA Teva Pharmaceutical-SP ADR Add +21.7% 0.69% +0.16
JEPI JPMorgan Equity Premium Inco Add +62.6% 0.34% +0.12
IVV iShares Core S&P 500 ETF New 0.12% +0.12
CALF PCR US SM CP CSH CWS ETF-Usd New 0.12% +0.12
NKE Nike Inc. Class B Add +0.6% 1.12% +0.10
SYF Synchrony Financial New 0.10% +0.10
AEM Agnico Eagle Mines Ltd. New 0.09% +0.09
NFLX Netflix Inc. New 0.08% +0.08
XLF SS Financial Select Sector Add +25.5% 0.28% +0.06
VUG Vanguard Mrngstar GR ETF-Sui Add +17.9% 0.23% +0.06
NOBL Proshares S&P 500 Dividend A Add +10.2% 1.03% +0.06
CGGR Cap Group Growth Equity Add +5.4% 0.22% +0.04
DEA Easterly Government Properti Add +84.9% 0.11% +0.04
MTG Mgic Investment Corp. Add +2.6% 0.33% +0.04
VTI VG Morningstar TS MKT ETF-US Add +0.1% 0.32% +0.02
CGDV Cap Group Dividend Value Add +0.0% 0.11% +0.01
JEPQ JPM Nasdaq Equity Premium Add +2.3% 0.17% +0.01
SYY Sysco Corp. Add +2.6% 0.24% +0.00
GEHC GE Healthcare Technology Add +13.5% 0.10% +0.00
AZO AutoZone Inc. Add +4.9% 0.63% −0.00
UPS United Parcel Service Class B Add +10.6% 0.45% −0.00
EOG EOG Resources Inc. Add +7.9% 0.39% −0.01
ARCC Ares Capital Corp. Add +0.8% 0.57% −0.01
BAX Baxter International Inc. Add +2.2% 0.21% −0.03
BDX Becton Dickinson and Co. Add +3.6% 0.10% −0.03
HD Home Depot Inc. Add +0.4% 2.14% −0.04
UHAL.B U-Haul Holding Co.-Non Voting Add +0.3% 0.67% −0.07
GPK Graphic Packaging Holding Co. Add +2.5% 0.62% −0.15
OEC Orion SA Add +6.4% 0.83% −0.16

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