Interchange Capital Partners, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Interchange Capital Partners, LLC reported 365 stock positions worth $510.1 million. Its top holding was JPM Ultra-Short Muni Income (JMST) at 7.5% of the portfolio, followed by Semler Scientific (SMLR, 7.5%) and Apple (AAPL, 4.1%). Compared with Q2 2025, it opened 92 new positions, sold out of 7, added to 183 and reduced 72. The biggest buy was Nvidia (NVDA, shares +47%) and the biggest sale Semler Scientific (SMLR, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- PITTSBURGH, PA
- CIK
- 0001845998
- Portfolio Value
- $510.1M (Q3 2025)
- SEC Filing
- 0001845998-25-000004 ↗ filed Nov 12, 2025
Holdings Value
Holdings 365 stocks · $510.1M
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 7.53% | 752,356 | $38.4M | Add +8.3% |
| SMLR Semler Scientific Inc. | 7.46% | 1,267,925 | $38.0M | Reduce -1.3% |
| AAPL Apple Inc. | 4.13% | 82,756 | $21.1M | Add +3.6% |
| JAAA Janus Henderson Aaa Clo ETF | 3.80% | 382,060 | $19.4M | Add +15.3% |
| MSFT Microsoft Corp. | 3.29% | 32,454 | $16.8M | Add +22.9% |
| IQLT iShares MSCI International Q | 2.71% | 313,129 | $13.8M | Reduce -0.4% |
| NVDA Nvidia Corp. | 2.06% | 56,425 | $10.5M | Add +47.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.73% | 47,322 | $8.8M | Reduce -0.5% |
| IEFA iShares Core MSCI Eafe ETF | 1.66% | 97,189 | $8.5M | Reduce -0.1% |
| JPST JPMorgan Ultra-Short Income | 1.53% | 154,324 | $7.8M | Reduce -2.1% |
| IVV iShares Core S&P 500 ETF | 1.51% | 11,489 | $7.7M | Add +14.4% |
| IEMG iShares Core MSCI Emerging | 1.44% | 111,614 | $7.4M | Add +3.5% |
| AMZN Amazon.com Inc. | 1.36% | 31,689 | $7.0M | Add +29.5% |
| VEA Vanguard Ftse Developed ETF | 1.31% | 111,150 | $6.7M | Add +0.5% |
| GOOGL Alphabet Inc. Class A | 1.24% | 26,041 | $6.3M | Add +31.2% |
| META Meta Platforms Inc. Class A | 1.23% | 8,538 | $6.3M | Add +25.7% |
| TSLA Tesla Inc. | 1.21% | 13,867 | $6.2M | Add +18.6% |
| JPM JPMorgan Chase & Co. | 1.01% | 16,414 | $5.2M | Add +14.8% |
| VLUE iShares MSCI USA Value Facto | 0.95% | 38,854 | $4.9M | Add +0.5% |
| IAU iShares Gold Trust | 0.92% | 64,149 | $4.7M | Reduce -4.3% |
| GOOG Alphabet Inc. Class C | 0.90% | 18,868 | $4.6M | Add +16.6% |
| QUAL iShares MSCI USA Quality Fac | 0.85% | 22,389 | $4.4M | Reduce -12.0% |
| AVGO Broadcom Inc. | 0.78% | 12,055 | $4.0M | Add +37.4% |
| ABBV Abbvie Inc. | 0.73% | 16,080 | $3.7M | Add +8.8% |
| MDCX Medicus Pharma Ltd. | 0.72% | 1,586,871 | $3.7M | No change |
| JEPI JPMorgan Equity Premium Inco | 0.70% | 62,929 | $3.6M | Add +0.2% |
| IVW iShares S&P 500 Growth ETF | 0.65% | 27,430 | $3.3M | Reduce -4.5% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.64% | 55,478 | $3.3M | Add +13.4% |
| IVE iShares S&P 500 Value ETF | 0.62% | 15,328 | $3.2M | Add +17.8% |
| GBTC Grayscale Bitcoin Trust ETF | 0.62% | 35,213 | $3.2M | Reduce -1.3% |
| UNH Unitedhealth Group Inc. | 0.54% | 7,935 | $2.7M | Add +20.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.53% | 5,419 | $2.7M | Add +21.5% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.52% | 31,467 | $2.7M | Reduce -0.9% |
| EFV iShares MSCI Eafe Value ETF | 0.52% | 39,179 | $2.7M | Reduce -20.2% |
| V Visa Inc. Class A | 0.49% | 7,295 | $2.5M | Add +13.8% |
| DFIV Dimensional International Va | 0.49% | 53,680 | $2.5M | Add +0.1% |
| HD Home Depot Inc. | 0.48% | 6,010 | $2.4M | Reduce -21.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.47% | 3,567 | $2.4M | Add +13.8% |
| ORCL Oracle Corp. | 0.46% | 8,398 | $2.4M | Add +14.0% |
| MS Morgan Stanley | 0.46% | 14,695 | $2.3M | Add +15.2% |
| MPC Marathon Petroleum Corp. | 0.45% | 11,948 | $2.3M | Add +3.5% |
| ABT Abbott Laboratories | 0.45% | 17,122 | $2.3M | Add +8.8% |
| BBJP JPMorgan Betabuilders Japan | 0.44% | 33,839 | $2.2M | Reduce -0.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 6,815 | $2.2M | Add +17.6% |
| JHMM John Hancock Multi Fact Mid | 0.44% | 34,556 | $2.2M | Reduce -0.2% |
| RTX RTX Corp. | 0.42% | 12,953 | $2.2M | Add +7.8% |
| OEF iShares S&P 100 ETF | 0.42% | 6,438 | $2.1M | Add +66.0% |
| MA Mastercard Inc. Class A | 0.42% | 3,732 | $2.1M | Add +21.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.41% | 7,447 | $2.1M | Add +14.5% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.40% | 4,206 | $2.1M | Add +5.5% |
| EZU iShares MSCI Eurozone ETF | 0.40% | 32,705 | $2.0M | Reduce -10.2% |
| AXP American Express Co. | 0.38% | 5,845 | $1.9M | Add +3.4% |
| SHOP Shopify Inc. Class A | 0.37% | 12,734 | $1.9M | Add +0.7% |
| NFLX Netflix Inc. | 0.37% | 1,570 | $1.9M | Add +41.7% |
| FBND Fidelity Total Bond ETF | 0.37% | 40,623 | $1.9M | Reduce -0.5% |
| HCA HCA Healthcare Inc. | 0.37% | 4,380 | $1.9M | Add +15.8% |
| ANET Arista Networks Inc. | 0.36% | 12,731 | $1.9M | Add +8.4% |
| APP AppLovin Corp. Class A | 0.36% | 2,553 | $1.8M | Add +2.5% |
| ETHE Grayscale Ethereum Staking E | 0.36% | 53,347 | $1.8M | Reduce -1.5% |
| IJR iShares Core S&P Small-Cap E | 0.35% | 15,098 | $1.8M | Add +2.3% |
| GLD SPDR Gold Shares | 0.33% | 4,703 | $1.7M | No change |
| PLTR Palantir Technologies Inc. Class A | 0.32% | 8,983 | $1.6M | Add +15.2% |
| PEP Pepsico Inc. | 0.31% | 11,434 | $1.6M | Add +14.7% |
| DGRW Wisdomtree U.S. Quality Divi | 0.31% | 17,848 | $1.6M | Reduce -2.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.31% | 5,386 | $1.6M | Add +1.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.30% | 5,479 | $1.5M | Add +11.3% |
| LLY Eli Lilly & Co. | 0.30% | 1,984 | $1.5M | Add +57.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.30% | 2 | $1.5M | No change |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.29% | 14,116 | $1.5M | Reduce -3.9% |
| PULS Pgim Ultra Short Bond ETF | 0.27% | 27,817 | $1.4M | Reduce -22.3% |
| HOOD Robinhood Markets Inc. Class A | 0.27% | 9,489 | $1.4M | Reduce -9.5% |
| SBUX Starbucks Corp. | 0.26% | 15,756 | $1.3M | Add +1.0% |
| WMT Walmart Inc. | 0.26% | 12,773 | $1.3M | Add +61.1% |
| IWF iShares Russell 1000 Growth | 0.26% | 2,805 | $1.3M | Reduce -1.9% |
| ITA iShares U.S. Aerospace & Def | 0.26% | 6,229 | $1.3M | Add +93.8% |
| AMAT Applied Materials Inc. | 0.25% | 6,240 | $1.3M | Add +12.6% |
| NEE Nextera Energy Inc. | 0.25% | 16,720 | $1.3M | Reduce -9.5% |
| EQT Eqt Corp. | 0.25% | 23,131 | $1.3M | Add +2.2% |
| VWO Vanguard Ftse Emerging Marke | 0.25% | 23,199 | $1.3M | Add +0.0% |
| THRO iShares U.S. Thematic Rotati | 0.24% | 32,729 | $1.2M | Add +2.6% |
| FICO Fair Isaac Corp. | 0.24% | 804 | $1.2M | Add +0.4% |
| PM Philip Morris International | 0.23% | 7,377 | $1.2M | Add +25.2% |
| GE General Electric filed as GE AEROSPACE | 0.23% | 3,912 | $1.2M | Add +33.4% |
| YUM Yum! Brands Inc. | 0.23% | 7,688 | $1.2M | Add +1.6% |
| CRM Salesforce Inc. | 0.23% | 4,908 | $1.2M | Add +6.6% |
| BAI Ishrs AI in and Tech Act ETF | 0.23% | 33,992 | $1.2M | Add +98.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.23% | 2,419 | $1.2M | Reduce -0.7% |
| CVX Chevron Corp. | 0.23% | 7,436 | $1.2M | Add +32.6% |
| JNJ Johnson & Johnson | 0.23% | 6,216 | $1.2M | Add +37.6% |
| SCZ iShares MSCI Eafe Small-Cap | 0.21% | 14,237 | $1.1M | Add +4.2% |
| PANW Palo Alto Networks Inc. | 0.21% | 5,331 | $1.1M | Add +30.1% |
| COST Costco Wholesale Corp. | 0.21% | 1,172 | $1.1M | Add +14.7% |
| FTEC Fidelity MSCI Info Tech Indx | 0.21% | 4,862 | $1.1M | Reduce -1.2% |
| AXON Axon Enterprise Inc. | 0.21% | 1,505 | $1.1M | Add +16.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.21% | 20,914 | $1.1M | Add +26.7% |
| ASML ASML Holding NV-NY Reg SHS | 0.21% | 1,103 | $1.1M | Add +19.5% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.21% | 3,425 | $1.1M | Reduce -0.1% |
| AMD Advanced Micro Devices | 0.20% | 6,459 | $1.0M | Add +16.6% |
| NOW ServiceNow Inc. | 0.20% | 1,082 | $996K | Add +25.8% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.19% | 14,731 | $994K | Reduce -2.4% |
Portfolio Sells Q2 2025 → Q3 2025
| SMLR Semler Scientific Inc. | Reduce -1.3% | 7.46% | −4.04 |
| IQLT iShares MSCI International Q | Reduce -0.4% | 2.71% | −0.43 |
| JPST JPMorgan Ultra-Short Income | Reduce -2.1% | 1.53% | −0.31 |
| HELO JPMorgan Hedged Equity ETF | Sold out | 0.00% | −0.24 |
| QUAL iShares MSCI USA Quality Fac | Reduce -12.0% | 0.85% | −0.22 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -0.5% | 1.73% | −0.21 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -0.1% | 1.66% | −0.21 |
| EFV iShares MSCI Eafe Value ETF | Reduce -20.2% | 0.52% | −0.20 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -58.2% | 0.10% | −0.18 |
| HD Home Depot Inc. | Reduce -21.9% | 0.48% | −0.17 |
| IYW iShares Ustechnology ETF | Reduce -44.9% | 0.18% | −0.16 |
| PULS Pgim Ultra Short Bond ETF | Reduce -22.3% | 0.27% | −0.14 |
| EZU iShares MSCI Eurozone ETF | Reduce -10.2% | 0.40% | −0.10 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -1.3% | 0.62% | −0.08 |
| IVW iShares S&P 500 Growth ETF | Reduce -4.5% | 0.65% | −0.08 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.07 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -0.9% | 0.52% | −0.07 |
| NTRA Natera Inc. | Sold out | 0.00% | −0.06 |
| FBND Fidelity Total Bond ETF | Reduce -0.5% | 0.37% | −0.06 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.06 |
| COIN Coinbase Global Inc. Class A | Reduce -8.3% | 0.17% | −0.06 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.06 |
| OTIS Otis Worldwide Corp. | Sold out | 0.00% | −0.05 |
| IAU iShares Gold Trust | Reduce -4.3% | 0.92% | −0.05 |
| JHMM John Hancock Multi Fact Mid | Reduce -0.2% | 0.44% | −0.05 |
| HUBS HubSpot Inc. | Sold out | 0.00% | −0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -25.5% | 0.06% | −0.05 |
| BBJP JPMorgan Betabuilders Japan | Reduce -0.9% | 0.44% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -2.8% | 0.12% | −0.05 |
| NEE Nextera Energy Inc. | Reduce -9.5% | 0.25% | −0.04 |
| DGRW Wisdomtree U.S. Quality Divi | Reduce -2.3% | 0.31% | −0.04 |
| MAR Marriott International Class A | Reduce -2.3% | 0.15% | −0.04 |
| ARKB ARK 21SHARES Bitcoin ETF | Reduce -9.0% | 0.17% | −0.04 |
| XLV SS Health Care Select Sector | Reduce -4.7% | 0.18% | −0.04 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -3.9% | 0.29% | −0.03 |
| CARR Carrier Global Corp. | Reduce -0.1% | 0.06% | −0.03 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -20.3% | 0.06% | −0.03 |
| JSCP JPMorgan Short Duration Core | Reduce -1.0% | 0.15% | −0.03 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -2.4% | 0.19% | −0.03 |
| FIS Fidelity National Info Serv | Reduce -10.0% | 0.04% | −0.02 |
| SDY SS SPDR S&P Dividend ETF | Reduce -0.7% | 0.16% | −0.02 |
| IWF iShares Russell 1000 Growth | Reduce -1.9% | 0.26% | −0.02 |
| XLP SS Consumer Staples Sel Sect | Reduce -2.9% | 0.09% | −0.02 |
| XLF SS Financial Select Sector | Reduce -0.1% | 0.14% | −0.02 |
| CIBR First Trust Nasdaq Cybersecu | Reduce -1.5% | 0.11% | −0.02 |
| BLDR Builders Firstsource Inc. | Reduce -1.9% | 0.13% | −0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -0.1% | 0.21% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.7% | 0.23% | −0.02 |
| RSPN Invesco S&P 500 Equal Weight | Reduce -1.9% | 0.13% | −0.02 |
| BITO Proshares Bitcoin ETF-Usd | Reduce -3.4% | 0.05% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +47.1% | 2.06% | +0.66 |
| GOOGL Alphabet Inc. Class A | Add +31.2% | 1.24% | +0.43 |
| AAPL Apple Inc. | Add +3.6% | 4.13% | +0.35 |
| TSLA Tesla Inc. | Add +18.6% | 1.21% | +0.35 |
| MSFT Microsoft Corp. | Add +22.9% | 3.29% | +0.26 |
| GOOG Alphabet Inc. Class C | Add +16.6% | 0.90% | +0.24 |
| AVGO Broadcom Inc. | Add +37.4% | 0.78% | +0.21 |
| APP AppLovin Corp. Class A | Add +2.5% | 0.36% | +0.16 |
| OEF iShares S&P 100 ETF | Add +66.0% | 0.42% | +0.15 |
| AMZN Amazon.com Inc. | Add +29.5% | 1.36% | +0.12 |
| BABA Alibaba Group Holding-SP ADR | Add +116.2% | 0.19% | +0.12 |
| ITA iShares U.S. Aerospace & Def | Add +93.8% | 0.26% | +0.12 |
| BAI Ishrs AI in and Tech Act ETF | Add +98.5% | 0.23% | +0.11 |
| GLDM SPDR Gold Minishares Trust | Add +156.3% | 0.18% | +0.11 |
| COF Capital One Financial Corp. | New | 0.10% | +0.10 |
| TPR Tapestry Inc. | New | 0.10% | +0.10 |
| ABBV Abbvie Inc. | Add +8.8% | 0.73% | +0.10 |
| ORCL Oracle Corp. | Add +14.0% | 0.46% | +0.09 |
| ANET Arista Networks Inc. | Add +8.4% | 0.36% | +0.09 |
| CVS CVS Health Corp. | New | 0.08% | +0.08 |
| C Citigroup Inc. | New | 0.08% | +0.08 |
| WMT Walmart Inc. | Add +61.1% | 0.26% | +0.08 |
| AN Autonation Inc. | New | 0.08% | +0.08 |
| EME Emcor Group Inc. | New | 0.08% | +0.08 |
| LOW Lowe's Cos Inc. | New | 0.08% | +0.08 |
| LRCX Lam Research Corp. | Add +38.4% | 0.19% | +0.07 |
| META Meta Platforms Inc. Class A | Add +25.7% | 1.23% | +0.07 |
| ABNB Airbnb Inc. Class A | New | 0.07% | +0.07 |
| IVV iShares Core S&P 500 ETF | Add +14.4% | 1.51% | +0.07 |
| MNST Monster Beverage Corp. | New | 0.07% | +0.07 |
| LLY Eli Lilly & Co. | Add +57.5% | 0.30% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +15.2% | 0.32% | +0.07 |
| ULTA Ulta Beauty Inc. | New | 0.07% | +0.07 |
| ARKG ARK Genomic Revolution ETF | New | 0.07% | +0.07 |
| EXPE Expedia Group Inc. | New | 0.07% | +0.07 |
| JBL Jabil Inc. | New | 0.07% | +0.07 |
| BKNG Booking Holdings Inc. | New | 0.07% | +0.07 |
| GILD Gilead Sciences Inc. | New | 0.07% | +0.07 |
| TSM Taiwan Semiconductor-SP ADR | Add +14.5% | 0.41% | +0.07 |
| JNJ Johnson & Johnson | Add +37.6% | 0.23% | +0.07 |
| KRC Kilroy Realty Corp. | New | 0.07% | +0.07 |
| SPG Simon Property Group Inc. | New | 0.06% | +0.06 |
| GRMN Garmin Ltd. | New | 0.06% | +0.06 |
| EBAY eBay Inc. | New | 0.06% | +0.06 |
| UNH Unitedhealth Group Inc. | Add +20.0% | 0.54% | +0.06 |
| ADSK Autodesk Inc. | New | 0.06% | +0.06 |
| FOUR SHIFT4 Payments Inc. Class A | New | 0.06% | +0.06 |
| CMI Cummins Inc. | New | 0.06% | +0.06 |
| CRUS Cirrus Logic Inc. | New | 0.06% | +0.06 |
| GD General Dynamics Corp. | Add +114.0% | 0.11% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 430 | $531.7M | AAPL, JMST, IQLT, NVDA, MSFT |
| Q1 2026 | 279 | $316.4M | AAPL, IQLT, JMST, MSFT, ASST |
| Q4 2025 | 424 | $539.1M | JMST, AAPL, JAAA, SMLR, MSFT |
| Q3 2025 | 365 | $510.1M | JMST, SMLR, AAPL, JAAA, MSFT |
| Q2 2025Amended | 280 | $432.9M | SMLR, JMST, JAAA, AAPL, IQLT |
| Q1 2025 | 269 | $356.8M | SMLR, AAPL, JMST, IQLT, MSFT |
| Q4 2024 | 247 | $275.5M | IQLT, AAPL, JMST, VTV, MSFT |
| Q3 2024 | 260 | $281.3M | IQLT, AAPL, MSFT, VTV, IVV |
| Q2 2024 | 264 | $271.9M | IQLT, AAPL, MSFT, JPST, VTV |
| Q1 2024 | 167 | $148.3M | IQLT, VTV, IVV, IEFA, VLUE |