Harbor Investment Advisory, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 9, 2025), Harbor Investment Advisory, LLC reported 1,169 stock positions worth $1.0 billion. Its top holding was Marriott International Class A (MAR) at 12.9% of the portfolio, followed by Apple (AAPL, 7.3%) and Amazon.com (AMZN, 4.4%). Compared with Q4 2024, it opened 61 new positions, sold out of 25, added to 250 and reduced 276. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +0%) and the biggest sale Marriott International Class A (MAR, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- LUTHERVILLE, MD
- CIK
- 0001468792
- Portfolio Value
- $1.0B (Q1 2025)
- SEC Filing
- 0001468792-25-000004 ↗ filed Apr 9, 2025
Holdings Value
Holdings 1,169 stocks · $1.0B
| MAR Marriott International Class A | 12.93% | 557,619 | $132.8M | Reduce -0.0% |
| AAPL Apple Inc. | 7.28% | 354,118 | $74.8M | Reduce -1.9% |
| AMZN Amazon.com Inc. | 4.40% | 304,091 | $45.2M | Add +0.7% |
| MSFT Microsoft Corp. | 3.38% | 146,141 | $34.7M | Add +0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.22% | 232,360 | $33.1M | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 2.54% | 168,892 | $26.1M | Reduce -2.4% |
| UNH Unitedhealth Group Inc. | 1.65% | 32,447 | $17.0M | Reduce -6.1% |
| MA Mastercard Inc. Class A | 1.47% | 27,513 | $15.1M | Add +5.9% |
| V Visa Inc. Class A | 1.36% | 39,758 | $13.9M | Reduce -1.4% |
| JPM JPMorgan Chase & Co. | 1.33% | 69,341 | $13.6M | Add +0.1% |
| VTI VG Morningstar TS MKT ETF-US | 1.27% | 47,392 | $13.0M | Add +4.1% |
| GOOG Alphabet Inc. Class C | 1.22% | 89,056 | $12.6M | Reduce -6.7% |
| RSP Invesco S&P 500 Equal Weight | 1.10% | 65,332 | $11.3M | Reduce -9.3% |
| GLDM SPDR Gold Minishares Trust | 1.09% | 181,378 | $11.2M | Add +7.3% |
| IVV iShares Core S&P 500 ETF | 1.03% | 18,846 | $10.6M | Reduce -5.4% |
| VOO Vanguard S&P 500 ETF | 0.98% | 19,612 | $10.1M | Add +0.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.95% | 26,460 | $9.8M | Reduce -0.0% |
| IWN iShares Russell 2000 Value E | 0.91% | 61,822 | $9.3M | Reduce -1.9% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.86% | 95,939 | $8.8M | Add +30.1% |
| LLY Eli Lilly & Co. | 0.81% | 10,122 | $8.4M | Reduce -5.4% |
| META Meta Platforms Inc. Class A | 0.80% | 14,231 | $8.2M | Add +1.4% |
| NVDA Nvidia Corp. | 0.78% | 74,187 | $8.0M | Add +2.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.74% | 44,040 | $7.6M | Add +0.9% |
| AMGN Amgen Inc. | 0.74% | 24,403 | $7.6M | Reduce -2.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.73% | 13,375 | $7.5M | Add +2.7% |
| VNQ Vanguard Real Estate ETF | 0.68% | 77,212 | $7.0M | Reduce -2.3% |
| BLK BlackRock Inc. | 0.67% | 7,289 | $6.9M | Add +0.5% |
| JNJ Johnson & Johnson | 0.67% | 41,437 | $6.9M | Reduce -11.5% |
| EFA iShares MSCI Eafe ETF | 0.58% | 73,425 | $6.0M | Reduce -0.7% |
| IWY iShares Russell Top 200 Grow | 0.55% | 27,002 | $5.7M | Add +6.0% |
| JAAA Janus Henderson Aaa Clo ETF | 0.53% | 106,594 | $5.4M | Add +48.0% |
| SBUX Starbucks Corp. | 0.51% | 53,665 | $5.3M | Reduce -1.4% |
| COST Costco Wholesale Corp. | 0.51% | 5,532 | $5.2M | Reduce -2.5% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.51% | 32,384 | $5.2M | Add +1.3% |
| JEPI JPMorgan Equity Premium Inco | 0.50% | 89,429 | $5.1M | Add +0.9% |
| IWO iShares Russell 2000 Growth | 0.49% | 19,804 | $5.1M | Add +2.8% |
| XOM Exxon Mobil Corp. | 0.49% | 42,226 | $5.0M | Reduce -3.4% |
| GLD SPDR Gold Shares | 0.49% | 17,344 | $5.0M | Reduce -1.4% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.48% | 20,375 | $5.0M | Add +0.9% |
| BX Blackstone Inc. | 0.47% | 34,647 | $4.8M | Reduce -11.2% |
| IWF iShares Russell 1000 Growth | 0.46% | 13,232 | $4.8M | Reduce -0.0% |
| HD Home Depot Inc. | 0.46% | 12,837 | $4.7M | Add +0.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.45% | 61,289 | $4.6M | Add +2.3% |
| WMT Walmart Inc. | 0.44% | 51,990 | $4.6M | Add +0.3% |
| ABBV Abbvie Inc. | 0.44% | 21,392 | $4.5M | Reduce -1.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.41% | 101,604 | $4.2M | Reduce -0.5% |
| AVGO Broadcom Inc. | 0.40% | 24,634 | $4.1M | Reduce -3.5% |
| IWX iShares Russell Top 200 Valu | 0.40% | 50,180 | $4.1M | Add +0.0% |
| IWB iShares Russell 1000 ETF | 0.40% | 13,432 | $4.1M | Reduce -0.8% |
| FVD First Trust Value Line DVD | 0.39% | 90,734 | $4.0M | Reduce -4.7% |
| AMT American Tower Corp. | 0.38% | 17,963 | $3.9M | Add +8.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.38% | 10,960 | $3.9M | Add +4.0% |
| IVE iShares S&P 500 Value ETF | 0.37% | 20,054 | $3.8M | Add +0.1% |
| HELO JPMorgan Hedged Equity ETF | 0.37% | 62,911 | $3.8M | Add +4.3% |
| PG The Procter & Gamble Co. | 0.36% | 21,960 | $3.7M | Reduce -1.7% |
| EQIX Equinix Inc. | 0.36% | 4,556 | $3.7M | Add +3.1% |
| IWD iShares Russell 1000 Value E | 0.36% | 19,548 | $3.7M | Add +0.3% |
| IJH iShares Core S&P Midcap ETF | 0.35% | 62,282 | $3.6M | Reduce -0.8% |
| TSLA Tesla Inc. | 0.34% | 13,454 | $3.5M | Reduce -5.9% |
| ABT Abbott Laboratories | 0.33% | 25,761 | $3.4M | Reduce -2.4% |
| VIG Vanguard Dividend Apprec ETF | 0.32% | 17,154 | $3.3M | Add +2.0% |
| IVW iShares S&P 500 Growth ETF | 0.32% | 35,614 | $3.3M | Reduce -1.8% |
| SHY iShares 1-3 Year Treasury Bo | 0.31% | 38,988 | $3.2M | Reduce -1.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.31% | 6,857 | $3.2M | Add +0.5% |
| MKL Markel Group Inc. | 0.31% | 1,708 | $3.2M | Add +19.6% |
| ZION Zions Bancorp NA | 0.31% | 62,928 | $3.1M | No change |
| CRM Salesforce Inc. | 0.30% | 28,281 | $3.1M | Reduce -1.3% |
| FISV Fiserv Inc. | 0.30% | 13,867 | $3.1M | Reduce -0.2% |
| HON Honeywell International Inc. | 0.29% | 14,264 | $3.0M | Reduce -0.4% |
| IWS iShares Russell Mid-Cap Valu | 0.29% | 23,644 | $3.0M | No change |
| CVX Chevron Corp. | 0.29% | 17,649 | $3.0M | Reduce -2.9% |
| SYK Stryker Corp. | 0.28% | 7,819 | $2.9M | Add +16.8% |
| DGRO iShares Core Dividend Growth | 0.28% | 46,470 | $2.9M | Reduce -0.3% |
| IJR iShares Core S&P Small-Cap E | 0.27% | 26,635 | $2.8M | Reduce -34.3% |
| UBER Uber Technologies Inc. | 0.26% | 36,962 | $2.7M | Add +147.8% |
| NFLX Netflix Inc. | 0.26% | 19,459 | $2.7M | Add +1.0% |
| ISRG Intuitive Surgical Inc. | 0.26% | 5,384 | $2.7M | Add +104.3% |
| ORCL Oracle Corp. | 0.24% | 17,699 | $2.5M | Reduce -3.3% |
| DLR Digital Realty Trust Inc. | 0.24% | 16,911 | $2.4M | Add +2.1% |
| TXRH Texas Roadhouse Inc. | 0.23% | 14,109 | $2.4M | Reduce -1.8% |
| APO Apollo Global Management Inc. | 0.23% | 17,167 | $2.4M | Add +7.4% |
| TMUS T-Mobile US Inc. | 0.23% | 8,694 | $2.3M | Reduce -0.5% |
| JMBS Janus Henderson Mortg Backed | 0.23% | 51,172 | $2.3M | Reduce -10.3% |
| GS Goldman Sachs Group Inc. | 0.22% | 4,164 | $2.3M | Add +12.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 18,668 | $2.3M | Add +0.1% |
| ICF iShares Select U.S. REIT ETF | 0.22% | 36,474 | $2.2M | Add +0.0% |
| VYM Vanguard High DVD Yield ETF | 0.22% | 17,393 | $2.2M | Add +1.5% |
| LOW Lowe's Cos Inc. | 0.21% | 9,420 | $2.2M | Reduce -1.9% |
| IWP iShares Russell Mid-Cap Grow | 0.21% | 18,457 | $2.2M | No change |
| ACWX iShares MSCI Acwi Ex US ETF | 0.20% | 36,792 | $2.0M | Add +117.8% |
| REGN Regeneron Pharmaceuticals | 0.20% | 3,198 | $2.0M | Reduce -11.5% |
| PEP Pepsico Inc. | 0.19% | 13,204 | $2.0M | Reduce -14.5% |
| CSCO Cisco Systems Inc. | 0.19% | 31,721 | $2.0M | Reduce -0.2% |
| VICR Vicor Corp. | 0.19% | 41,511 | $1.9M | No change |
| CEG Constellation Energy | 0.19% | 9,578 | $1.9M | Add +6.0% |
| AEM Agnico Eagle Mines Ltd. | 0.19% | 17,772 | $1.9M | Reduce -1.8% |
| CMG Chipotle Mexican Grill Inc. | 0.18% | 37,289 | $1.9M | Reduce -1.8% |
| RTX RTX Corp. | 0.18% | 14,089 | $1.9M | Add +3.2% |
| UNP Union Pacific Corp. | 0.18% | 7,877 | $1.9M | Reduce -0.1% |
| QUS SS SPDR MSCI U Stratfact ETF | 0.18% | 11,502 | $1.8M | Add +2.3% |
Options reported separately and not counted above: AAPL puts ($400K), ONON calls ($66K).
Other holdings (3): bonds, preferreds, convertibles and warrants · $11K (not counted above)
Lines left out (1) · $1 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| EE Excelerate Energy Inc. Class A | CL A COM | 0 | $1 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q4 2024 → Q1 2025
| MAR Marriott International Class A | Reduce -0.0% | 12.93% | −1.63 |
| AAPL Apple Inc. | Reduce -1.9% | 7.28% | −0.77 |
| GOOGL Alphabet Inc. Class A | Reduce -2.4% | 2.54% | −0.52 |
| GOOG Alphabet Inc. Class C | Reduce -6.7% | 1.22% | −0.32 |
| TSLA Tesla Inc. | Reduce -5.9% | 0.34% | −0.20 |
| IJR iShares Core S&P Small-Cap E | Reduce -34.3% | 0.27% | −0.17 |
| BX Blackstone Inc. | Reduce -11.2% | 0.47% | −0.16 |
| AVGO Broadcom Inc. | Reduce -3.5% | 0.40% | −0.15 |
| MRK Merck & Co. Inc. | Reduce -38.8% | 0.17% | −0.13 |
| RSP Invesco S&P 500 Equal Weight | Reduce -9.3% | 1.10% | −0.08 |
| CRM Salesforce Inc. | Reduce -1.3% | 0.30% | −0.07 |
| IVV iShares Core S&P 500 ETF | Reduce -5.4% | 1.03% | −0.07 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.0% | 0.95% | −0.06 |
| IWN iShares Russell 2000 Value E | Reduce -1.9% | 0.91% | −0.06 |
| NEM Newmont Corp. | Reduce -90.1% | 0.01% | −0.06 |
| TROW T Rowe Price Group Inc. | Reduce -17.0% | 0.13% | −0.05 |
| LULU Lululemon Athletica Inc. | Reduce -6.7% | 0.13% | −0.05 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -28.0% | 0.09% | −0.05 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -30.5% | 0.11% | −0.05 |
| ORCL Oracle Corp. | Reduce -3.3% | 0.24% | −0.04 |
| REGN Regeneron Pharmaceuticals | Reduce -11.5% | 0.20% | −0.04 |
| DHR Danaher Corp. | Reduce -15.7% | 0.15% | −0.04 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -47.3% | 0.04% | −0.04 |
| ELV Elevance Health Inc. | Reduce -76.9% | 0.01% | −0.04 |
| XBI SS SPDR S&P Biotech ETF | Reduce -78.7% | 0.01% | −0.04 |
| FDX FedEx Corp. | Reduce -13.2% | 0.13% | −0.04 |
| ZTS Zoetis Inc. | Reduce -38.9% | 0.06% | −0.04 |
| IWF iShares Russell 1000 Growth | Reduce -0.0% | 0.46% | −0.03 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.8% | 0.18% | −0.03 |
| NKE Nike Inc. Class B | Reduce -1.0% | 0.18% | −0.03 |
| STZ Constellation Brands Inc. Class A | Reduce -60.7% | 0.01% | −0.03 |
| PEP Pepsico Inc. | Reduce -14.5% | 0.19% | −0.03 |
| EPI Wisdomtree India Earnings | Reduce -42.5% | 0.03% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -20.4% | 0.11% | −0.02 |
| IBIT iShares Bitcoin Trust ETF | Reduce -9.0% | 0.12% | −0.02 |
| ETN Eaton Corp. PLC | Reduce -2.3% | 0.12% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -1.3% | 0.09% | −0.02 |
| SMIN iShares MSCI India Small-Cap | Reduce -76.0% | 0.01% | −0.02 |
| LDOS Leidos Holdings Inc. | Reduce -67.5% | 0.01% | −0.02 |
| IVW iShares S&P 500 Growth ETF | Reduce -1.8% | 0.32% | −0.02 |
| JPST JPMorgan Ultra-Short Income | Reduce -67.5% | 0.01% | −0.02 |
| POOL Pool Corp. | Reduce -81.3% | 0.00% | −0.02 |
| PAVE Global X US Infrastructure | Reduce -16.3% | 0.09% | −0.02 |
| NOBL Proshares S&P 500 Dividend A | Reduce -25.6% | 0.08% | −0.02 |
| LYV Live Nation Entertainment Inc. | Reduce -59.2% | 0.01% | −0.02 |
| WDAY Workday Inc. Class A | Reduce -37.2% | 0.02% | −0.02 |
| IQV Iqvia Holdings Inc. | Reduce -63.0% | 0.01% | −0.02 |
| ADBE Adobe Inc. | Reduce -34.6% | 0.02% | −0.02 |
| BINC iShares Flex I A ETF-Usd Inc. | Reduce -60.5% | 0.01% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.3% | 3.22% | +0.62 |
| GLDM SPDR Gold Minishares Trust | Add +7.3% | 1.09% | +0.27 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +30.1% | 0.86% | +0.23 |
| MA Mastercard Inc. Class A | Add +5.9% | 1.47% | +0.19 |
| JAAA Janus Henderson Aaa Clo ETF | Add +48.0% | 0.53% | +0.18 |
| UBER Uber Technologies Inc. | Add +147.8% | 0.26% | +0.18 |
| DFIS Dimensional International SM | New | 0.13% | +0.13 |
| ISRG Intuitive Surgical Inc. | Add +104.3% | 0.26% | +0.13 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +117.8% | 0.20% | +0.12 |
| AMT American Tower Corp. | Add +8.0% | 0.38% | +0.09 |
| URI United Rentals Inc. | Add +339.8% | 0.12% | +0.09 |
| FAST Fastenal Co. | Add +87.1% | 0.16% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +0.1% | 1.33% | +0.08 |
| MKL Markel Group Inc. | Add +19.6% | 0.31% | +0.08 |
| RRC Range Resources Corp. | New | 0.08% | +0.08 |
| SPGI S&P Global Inc. | Add +69.5% | 0.17% | +0.08 |
| SPOT Spotify Technology SA | Add +1298.2% | 0.08% | +0.08 |
| WCN Waste Connections Inc. | Add +1022.7% | 0.08% | +0.07 |
| JSI JH Securitized Income ETF | New | 0.07% | +0.07 |
| MGNR Amer Beac GLG NTRL Rsrcs ETF | New | 0.06% | +0.06 |
| CCJ Cameco Corp. | Add +132.1% | 0.13% | +0.06 |
| IR Ingersoll-Rand Inc. | Add +149680.0% | 0.06% | +0.06 |
| SYK Stryker Corp. | Add +16.8% | 0.28% | +0.06 |
| WAB Wabtec Corp. | Add +23385.7% | 0.06% | +0.06 |
| IEFA iShares Core MSCI Eafe ETF | Add +2.3% | 0.45% | +0.06 |
| ECL Ecolab Inc. | Add +669.6% | 0.06% | +0.06 |
| VMC Vulcan Materials Co. | Add +587.5% | 0.06% | +0.05 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +93.5% | 0.10% | +0.05 |
| PWR Quanta Services Inc. | Add +485.3% | 0.07% | +0.05 |
| ANSS Ansys Inc. | Add +591.9% | 0.06% | +0.05 |
| IEF iShares 7-10 Year Treasury B | Add +437.1% | 0.06% | +0.05 |
| TECH Bio-Techne Corp. | Add +529.9% | 0.06% | +0.05 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +0.9% | 0.74% | +0.05 |
| TDG Transdigm Group Inc. | Add +3600.0% | 0.05% | +0.05 |
| CTRA Coterra Energy Inc. | Add +1286.7% | 0.05% | +0.05 |
| GWRE Guidewire Software Inc. | Add +347.0% | 0.06% | +0.05 |
| VEEV Veeva Systems Inc. Class A | Add +3030.8% | 0.05% | +0.04 |
| BSX Boston Scientific Corp. | Add +57.5% | 0.09% | +0.04 |
| CSGP Costar Group Inc. | Add +554.8% | 0.05% | +0.04 |
| VEU Vanguard Ftse All-World Ex-U | Add +33.2% | 0.13% | +0.04 |
| HDV iShares Core High Dividend E | Add +15.1% | 0.17% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +4.0% | 0.38% | +0.04 |
| NFLX Netflix Inc. | Add +1.0% | 0.26% | +0.04 |
| EW Edwards Lifesciences Corp. | Add +26.3% | 0.16% | +0.04 |
| GEV GE Vernova Inc. | Add +214.4% | 0.05% | +0.03 |
| BDX Becton Dickinson and Co. | Add +109.6% | 0.06% | +0.03 |
| RTX RTX Corp. | Add +3.2% | 0.18% | +0.03 |
| GNRC Generac Holdings Inc. | Add +9914.8% | 0.03% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +4.1% | 1.27% | +0.03 |
| VCRB Vanguard Core Bond ETF | Add +55.5% | 0.08% | +0.03 |
Options Activity Q4 2024 → Q1 2025
| AAPL Apple Inc. | put | Add +800.0% | 1,800 | $400K |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 400 | $204Kbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 300 | $176Kbefore exit |
| TSLA Tesla Inc. | put | Sold out | 200 | $81Kbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 500 | $67Kbefore exit |
| DIS The Walt Disney Co. | put | Sold out | 500 | $56Kbefore exit |
| MSFT Microsoft Corp. | put | Sold out | 100 | $42Kbefore exit |
| GOOG Alphabet Inc. Class C | put | Sold out | 100 | $19Kbefore exit |
| EA Electronic Arts Inc. | call | Sold out | 100 | $15Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| HP Helmerich & Payne | COM | Sold out | 0 | $0before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,306 | $1.4B | MAR, AAPL, GOOGL, AMZN, MSFT |
| Q1 2026 | 1,223 | $1.3B | MAR, AAPL, GOOGL, AMZN, MSFT |
| Q4 2025 | 1,219 | $1.3B | MAR, AAPL, GOOGL, AMZN, MSFT |
| Q3 2025 | 1,165 | $1.2B | MAR, AAPL, AMZN, MSFT, GOOGL |
| Q2 2025 | 1,168 | $1.1B | MAR, AAPL, AMZN, MSFT, BRK.B |
| Q1 2025 | 1,169 | $1.0B | MAR, AAPL, AMZN, MSFT, BRK.B |
| Q4 2024 | 1,131 | $1.1B | MAR, AAPL, AMZN, MSFT, GOOGL |
| Q3 2024 | 1,140 | $1.0B | MAR, AAPL, AMZN, MSFT, GOOGL |
| Q2 2024 | 1,298 | $957.8M | MAR, AAPL, AMZN, MSFT, GOOGL |
| Q1 2024 | 1,323 | $956.6M | MAR, AAPL, AMZN, MSFT, GOOGL |