Kendall Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 16, 2025), Kendall Capital Management reported 225 stock positions worth $378.1 million. Its top holding was iShares Russell 2500 ETF (SMMD) at 5.6% of the portfolio, followed by JPMorgan Int Res Enh Eqty (JIRE, 4.6%) and Broadcom (AVGO, 3.9%). Compared with Q1 2025, it opened 22 new positions, sold out of 15, added to 67 and reduced 113. The biggest buy was JPMorgan Int Res Enh Eqty (JIRE, shares +38%) and the biggest sale iShares Core MSCI Eafe ETF (IEFA, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- ROCKVILLE, MD
- CIK
- 0001731372
- Portfolio Value
- $378.1M (Q2 2025)
- SEC Filing
- 0001731372-25-000004 ↗ filed Jul 16, 2025
Holdings Value
Holdings 225 stocks · $378.1M
| SMMD iShares Russell 2500 ETF | 5.57% | 310,495 | $21.0M | Add +2.5% |
| JIRE JPMorgan Int Res Enh Eqty | 4.59% | 245,388 | $17.4M | Add +38.0% |
| AVGO Broadcom Inc. | 3.94% | 54,037 | $14.9M | Reduce -1.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 2.67% | 23,048 | $10.1M | Add +5.7% |
| JPST JPMorgan Ultra-Short Income | 2.60% | 193,866 | $9.8M | Add +6.0% |
| AVT Avnet Inc. | 2.10% | 149,475 | $7.9M | Add +4.2% |
| VSEC Vse Corp. | 1.88% | 54,215 | $7.1M | Reduce -17.4% |
| EQH Equitable Holdings Inc. | 1.75% | 118,054 | $6.6M | Add +2.5% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.67% | 22,102 | $6.3M | No change |
| DELL Dell Technologies -C | 1.67% | 51,360 | $6.3M | Reduce -1.2% |
| OMC Omnicom Group | 1.58% | 83,135 | $6.0M | Add +0.2% |
| KLAC KLA Corp. | 1.54% | 6,518 | $5.8M | Reduce -1.8% |
| VCTR Victory Capital Holding - A | 1.52% | 90,189 | $5.7M | Add +2.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.48% | 20,042 | $5.6M | No change |
| COR Cencora Inc. | 1.43% | 18,019 | $5.4M | Reduce -1.5% |
| CDW CDW Corp. | 1.38% | 29,150 | $5.2M | Reduce -0.4% |
| CLS Celestica Inc. | 1.37% | 33,222 | $5.2M | Reduce -7.1% |
| ABBV Abbvie Inc. | 1.32% | 26,964 | $5.0M | Reduce -2.3% |
| IEFA iShares Core MSCI Eafe ETF | 1.27% | 57,701 | $4.8M | Reduce -35.6% |
| AAPL Apple Inc. | 1.18% | 21,728 | $4.5M | Add +7.4% |
| VTI VG Morningstar TS MKT ETF-US | 1.17% | 14,499 | $4.4M | Add +1.8% |
| HPE Hewlett Packard Enterprise | 1.16% | 214,779 | $4.4M | Add +2.3% |
| WLY Wiley (john) & Sons Class A | 1.11% | 93,697 | $4.2M | Add +10.7% |
| CSGS CSG Systems Intl Inc. | 1.04% | 60,335 | $3.9M | Add +27.7% |
| TDTF NT Iboxx 5Y Dur Tips ETF | 1.02% | 160,762 | $3.9M | Add +7.4% |
| JXN Jackson Financial Inc. Class A | 0.98% | 41,850 | $3.7M | Reduce -13.1% |
| MA Mastercard Inc. Class A | 0.93% | 6,271 | $3.5M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 0.92% | 19,740 | $3.5M | Add +3.0% |
| LRN Stride Inc. | 0.92% | 23,915 | $3.5M | Add +1.7% |
| HRB H&R Block Inc. filed as BLOCK H & R INC | 0.91% | 62,420 | $3.4M | Add +14.0% |
| UNM Unum Group | 0.89% | 41,495 | $3.4M | Reduce -0.7% |
| NXST Nexstar Media Group Inc. | 0.87% | 19,129 | $3.3M | Add +56.4% |
| CALM Cal-Maine Foods Inc. | 0.85% | 32,385 | $3.2M | Reduce -1.2% |
| HPQ HP Inc. | 0.83% | 129,082 | $3.2M | Add +5.8% |
| IT Gartner Inc. | 0.83% | 7,806 | $3.2M | Add +1.4% |
| ARW Arrow Electronics Inc. | 0.82% | 24,320 | $3.1M | Add +4.4% |
| FHI Federated Hermes Inc. | 0.81% | 69,100 | $3.1M | Reduce -1.1% |
| GEN Gen Digital Inc. | 0.77% | 98,845 | $2.9M | Add +63.0% |
| CMI Cummins Inc. | 0.71% | 8,208 | $2.7M | Add +6.6% |
| FISV Fiserv Inc. | 0.69% | 15,118 | $2.6M | Reduce -1.9% |
| BMY Bristol-Myers Squibb Co. | 0.68% | 55,752 | $2.6M | Add +17.3% |
| R Ryder System Inc. | 0.65% | 15,400 | $2.4M | Reduce -1.4% |
| NVDA Nvidia Corp. | 0.62% | 14,930 | $2.4M | Add +1.1% |
| UPBD Upbound Group Inc. | 0.62% | 93,930 | $2.4M | Add +2.1% |
| META Meta Platforms Inc. Class A | 0.62% | 3,181 | $2.3M | Reduce -0.9% |
| MCK McKesson Corp. | 0.61% | 3,133 | $2.3M | Reduce -0.3% |
| IWC iShares Micro-Cap ETF | 0.60% | 17,639 | $2.3M | Reduce -18.6% |
| ORLY O'reilly Automotive Inc. | 0.56% | 23,555 | $2.1M | Reduce -5.9% |
| CMRE Costamare Inc. | 0.56% | 231,889 | $2.1M | Reduce -8.5% |
| EXPE Expedia Group Inc. | 0.55% | 12,260 | $2.1M | Add +8.3% |
| CBOE Cboe Global Markets Inc. | 0.55% | 8,865 | $2.1M | Reduce -0.1% |
| UTHR United Therapeutics Corp. | 0.55% | 7,180 | $2.1M | Reduce -1.2% |
| CBNK Capital Bancorp Inc. | 0.53% | 60,040 | $2.0M | No change |
| URI United Rentals Inc. | 0.51% | 2,577 | $1.9M | Reduce -4.1% |
| KHC The Kraft Heinz Co. | 0.48% | 70,875 | $1.8M | Reduce -13.6% |
| CSCO Cisco Systems Inc. | 0.46% | 25,011 | $1.7M | Reduce -7.9% |
| SLM SLM Corp. | 0.45% | 51,340 | $1.7M | Reduce -2.0% |
| SFM Sprouts Farmers Market Inc. | 0.44% | 10,210 | $1.7M | Reduce -6.2% |
| AN Autonation Inc. | 0.44% | 8,445 | $1.7M | Reduce -2.1% |
| VTRS Viatris Inc. | 0.43% | 180,950 | $1.6M | Reduce -16.0% |
| HCA HCA Healthcare Inc. | 0.42% | 4,165 | $1.6M | Reduce -4.3% |
| FDM First Trust Dow J Select Mic | 0.42% | 22,209 | $1.6M | Add +0.9% |
| ACN Accenture PLC Class A | 0.42% | 5,269 | $1.6M | Reduce -0.1% |
| CBRE CBRE Group Inc. Class A | 0.41% | 11,066 | $1.6M | Reduce -2.2% |
| BWA Borgwarner Inc. | 0.40% | 45,040 | $1.5M | Add +0.3% |
| VWO Vanguard Ftse Emerging Marke | 0.38% | 28,766 | $1.4M | Reduce -2.7% |
| GRBK Green Brick Partners Inc. | 0.37% | 22,458 | $1.4M | Add +29.6% |
| MAR Marriott International Class A | 0.37% | 5,168 | $1.4M | Add +1.1% |
| TPR Tapestry Inc. | 0.37% | 16,075 | $1.4M | Reduce -3.7% |
| NOMD Nomad Foods Ltd. | 0.37% | 82,795 | $1.4M | Add +62.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.37% | 5,910 | $1.4M | Reduce -2.4% |
| MRK Merck & Co. Inc. | 0.37% | 17,692 | $1.4M | Reduce -6.2% |
| ACMR Acm Research Inc. Class A | 0.37% | 54,055 | $1.4M | Add +19.5% |
| ALSN Allison Transmission Holding | 0.36% | 14,325 | $1.4M | Add +8.8% |
| TAP Molson Coors Beverage Co. Class B | 0.36% | 28,145 | $1.4M | Add +40.8% |
| TMHC Taylor Morrison Home Corp. | 0.34% | 21,140 | $1.3M | Reduce -0.1% |
| PAG Penske Automotive Group Inc. | 0.34% | 7,505 | $1.3M | Reduce -0.5% |
| COF Capital One Financial Corp. | 0.34% | 5,973 | $1.3M | New |
| TNL Travel + Leisure Co. | 0.34% | 24,555 | $1.3M | Add +10.3% |
| UGI Ugi Corp. | 0.33% | 34,490 | $1.3M | Add +44.9% |
| IWB iShares Russell 1000 ETF | 0.33% | 3,692 | $1.3M | No change |
| PSMT Pricesmart Inc. | 0.33% | 11,900 | $1.2M | Add +3.6% |
| PRGS Progress Software Corp. | 0.32% | 19,070 | $1.2M | Reduce -13.1% |
| NFG National Fuel Gas Co. | 0.32% | 14,283 | $1.2M | Reduce -3.4% |
| ISCG iShares Morningstar Small-Ca | 0.31% | 23,500 | $1.2M | New |
| VST Vistra Corp. | 0.31% | 5,970 | $1.2M | Reduce -9.3% |
| XSMO Invesco S&P Smallcap Momentu | 0.31% | 17,000 | $1.2M | New |
| JNJ Johnson & Johnson | 0.30% | 7,540 | $1.2M | Reduce -0.6% |
| CPAY Corpay Inc. | 0.30% | 3,466 | $1.2M | Reduce -2.0% |
| MSFT Microsoft Corp. | 0.30% | 2,260 | $1.1M | Add +1.3% |
| VT Vanguard Tot World STK ETF | 0.30% | 8,713 | $1.1M | Add +2.5% |
| REGN Regeneron Pharmaceuticals | 0.30% | 2,128 | $1.1M | Reduce -3.8% |
| GLDM SPDR Gold Minishares Trust | 0.30% | 17,054 | $1.1M | Reduce -6.5% |
| SLYV SS SPDR S&P 600 SC Val ETF | 0.30% | 14,000 | $1.1M | New |
| TGNA Tegna Inc. | 0.29% | 66,332 | $1.1M | Reduce -1.8% |
| CRUS Cirrus Logic Inc. | 0.29% | 10,440 | $1.1M | Add +3.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.27% | 3,404 | $1.0M | Reduce -0.6% |
| TBBK The Bancorp Inc. | 0.26% | 17,270 | $984K | Add +1.9% |
| GILD Gilead Sciences Inc. | 0.26% | 8,822 | $978K | Add +1.2% |
| GSK GSK PLC-Spon ADR | 0.26% | 25,446 | $977K | Add +76.8% |
Portfolio Sells Q1 2025 → Q2 2025
| IEFA iShares Core MSCI Eafe ETF | Reduce -35.6% | 1.27% | −0.72 |
| VSEC Vse Corp. | Reduce -17.4% | 1.88% | −0.44 |
| ABBV Abbvie Inc. | Reduce -2.3% | 1.32% | −0.37 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.32 |
| FISV Fiserv Inc. | Reduce -1.9% | 0.69% | −0.31 |
| JMEE JPM Sma & Mid Cap En Eq Et-U | Sold out | 0.00% | −0.29 |
| RWJ Invesco S&P Smallcap 600 | Sold out | 0.00% | −0.28 |
| DFAS Dimensional US Small Cap ETF | Sold out | 0.00% | −0.28 |
| KHC The Kraft Heinz Co. | Reduce -13.6% | 0.48% | −0.25 |
| JXN Jackson Financial Inc. Class A | Reduce -13.1% | 0.98% | −0.20 |
| CMRE Costamare Inc. | Reduce -8.5% | 0.56% | −0.17 |
| OGN Organon & Co. | Reduce -15.3% | 0.14% | −0.14 |
| ORLY O'reilly Automotive Inc. | Reduce -5.9% | 0.56% | −0.14 |
| MRK Merck & Co. Inc. | Reduce -6.2% | 0.37% | −0.13 |
| SPLV Invesco S&P 500 Low Volatili | Sold out | 0.00% | −0.13 |
| VTRS Viatris Inc. | Reduce -16.0% | 0.43% | −0.12 |
| REGN Regeneron Pharmaceuticals | Reduce -3.8% | 0.30% | −0.12 |
| UNM Unum Group | Reduce -0.7% | 0.89% | −0.11 |
| UTHR United Therapeutics Corp. | Reduce -1.2% | 0.55% | −0.11 |
| IWC iShares Micro-Cap ETF | Reduce -18.6% | 0.60% | −0.11 |
| BLDR Builders Firstsource Inc. | Reduce -38.6% | 0.12% | −0.11 |
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −0.10 |
| DTD Wisdomtree US Total Dividend | Reduce -50.0% | 0.09% | −0.10 |
| T AT&T Inc. | Sold out | 0.00% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -1.1% | 0.93% | −0.09 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.09 |
| WU Western Union Co. | Reduce -28.9% | 0.09% | −0.09 |
| DLX Deluxe Corp. | Reduce -35.2% | 0.12% | −0.08 |
| PLAB Photronics Inc. | Reduce -9.5% | 0.23% | −0.08 |
| IWF iShares Russell 1000 Growth | Reduce -37.7% | 0.15% | −0.08 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −0.08 |
| HCC Warrior Met Coal Inc. | Reduce -44.5% | 0.07% | −0.08 |
| APO Apollo Global Management Inc. | Reduce -26.4% | 0.16% | −0.07 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −0.07 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -49.2% | 0.06% | −0.07 |
| TGNA Tegna Inc. | Reduce -1.8% | 0.29% | −0.07 |
| ACN Accenture PLC Class A | Reduce -0.1% | 0.42% | −0.07 |
| COR Cencora Inc. | Reduce -1.5% | 1.43% | −0.07 |
| KBH KB Home | Sold out | 0.00% | −0.07 |
| JNJ Johnson & Johnson | Reduce -0.6% | 0.30% | −0.06 |
| KLG WK Kellogg Co. | Sold out | 0.00% | −0.06 |
| BG Bunge Global SA | Reduce -19.3% | 0.19% | −0.06 |
| CPAY Corpay Inc. | Reduce -2.0% | 0.30% | −0.06 |
| INVA Innoviva Inc. | Reduce -30.3% | 0.13% | −0.06 |
| ABR Arbor Realty Trust Inc. | Sold out | 0.00% | −0.05 |
| CIVI Civitas Resources Inc. | Reduce -3.4% | 0.10% | −0.05 |
| MLI Mueller Industries Inc. | Reduce -15.8% | 0.17% | −0.05 |
| OC Owens Corning | Reduce -18.5% | 0.10% | −0.04 |
| SFM Sprouts Farmers Market Inc. | Reduce -6.2% | 0.44% | −0.04 |
| CBOE Cboe Global Markets Inc. | Reduce -0.1% | 0.55% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| JIRE JPMorgan Int Res Enh Eqty | Add +38.0% | 4.59% | +1.26 |
| COF Capital One Financial Corp. | New | 0.34% | +0.34 |
| ISCG iShares Morningstar Small-Ca | New | 0.31% | +0.31 |
| XSMO Invesco S&P Smallcap Momentu | New | 0.31% | +0.31 |
| GEN Gen Digital Inc. | Add +63.0% | 0.77% | +0.30 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +5.7% | 2.67% | +0.30 |
| SLYV SS SPDR S&P 600 SC Val ETF | New | 0.30% | +0.30 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | New | 0.24% | +0.24 |
| NXST Nexstar Media Group Inc. | Add +56.4% | 0.87% | +0.23 |
| HPE Hewlett Packard Enterprise | Add +2.3% | 1.16% | +0.21 |
| CSGS CSG Systems Intl Inc. | Add +27.7% | 1.04% | +0.20 |
| VVX V2X Inc. | New | 0.17% | +0.17 |
| QCOM Qualcomm Inc. | Add +215.1% | 0.25% | +0.17 |
| NVDA Nvidia Corp. | Add +1.1% | 0.62% | +0.15 |
| ENVA Enova International Inc. | New | 0.14% | +0.14 |
| IWR iShares Russell Mid-Cap ETF | New | 0.14% | +0.14 |
| HG Hamilton Insurance Grou Class B | New | 0.13% | +0.13 |
| RITM Rithm Capital Corp. | Add +317.4% | 0.16% | +0.11 |
| PFE Pfizer Inc. | New | 0.11% | +0.11 |
| ARW Arrow Electronics Inc. | Add +4.4% | 0.82% | +0.11 |
| UGI Ugi Corp. | Add +44.9% | 0.33% | +0.10 |
| GSK GSK PLC-Spon ADR | Add +76.8% | 0.26% | +0.09 |
| AAMI Acadian Asset Management Inc. | New | 0.09% | +0.09 |
| LDOS Leidos Holdings Inc. | Add +93.7% | 0.18% | +0.09 |
| MGA Magna International Inc. | New | 0.09% | +0.09 |
| CMDB Costamare Bulkers Holding | New | 0.08% | +0.08 |
| IVZ Invesco Ltd. | New | 0.08% | +0.08 |
| ORCL Oracle Corp. | New | 0.08% | +0.08 |
| NOMD Nomad Foods Ltd. | Add +62.3% | 0.37% | +0.08 |
| GRBK Green Brick Partners Inc. | Add +29.6% | 0.37% | +0.08 |
| AVT Avnet Inc. | Add +4.2% | 2.10% | +0.07 |
| EVR Evercore Inc. Class A | New | 0.06% | +0.06 |
| ACMR Acm Research Inc. Class A | Add +19.5% | 0.37% | +0.06 |
| BKNG Booking Holdings Inc. | New | 0.06% | +0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.05% | +0.05 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.05% | +0.05 |
| CSX CSX Corp. | New | 0.05% | +0.05 |
| KEX Kirby Corp. | New | 0.05% | +0.05 |
| MSFT Microsoft Corp. | Add +1.3% | 0.30% | +0.05 |
| GOOGL Alphabet Inc. Class A | Add +3.0% | 0.92% | +0.05 |
| LRN Stride Inc. | Add +1.7% | 0.92% | +0.04 |
| CVSA Covista Inc. | Add +42.9% | 0.11% | +0.04 |
| AMRX Amneal Pharmaceuticals Inc. | New | 0.04% | +0.04 |
| IJT iShares S&P Small-Cap 600 GR | Add +29.9% | 0.19% | +0.04 |
| PSMT Pricesmart Inc. | Add +3.6% | 0.33% | +0.03 |
| TNL Travel + Leisure Co. | Add +10.3% | 0.34% | +0.03 |
| VCTR Victory Capital Holding - A | Add +2.9% | 1.52% | +0.03 |
| HRB H&R Block Inc. | Add +14.0% | 0.91% | +0.02 |
| BWA Borgwarner Inc. | Add +0.3% | 0.40% | +0.02 |
| FDM First Trust Dow J Select Mic | Add +0.9% | 0.42% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 236 | $600.4M | TMSL, JIRE, FMDE, DELL, AVGO |
| Q1 2026 | 231 | $488.0M | TMSL, SMMD, JIRE, AVGO, VUG |
| Q4 2025 | 230 | $478.0M | SMMD, TMSL, JIRE, AVGO, VUG |
| Q3 2025 | 232 | $443.6M | SMMD, JIRE, TMSL, AVGO, VUG |
| Q2 2025 | 225 | $378.1M | SMMD, JIRE, AVGO, VUG, JPST |
| Q1 2025 | 218 | $340.3M | SMMD, JIRE, JPST, AVGO, VUG |
| Q4 2024 | 217 | $341.8M | SMMD, AVGO, VUG, JPST, OMC |
| Q3 2024 | 210 | $323.9M | SMMD, AVGO, OMC, JPST, VSEC |
| Q2 2024 | 209 | $299.9M | SMMD, AVGO, VSEC, JPST, OMC |
| Q1 2024 | 210 | $290.7M | SMMD, VSEC, JPST, AVGO, OMC |