Managed Asset Portfolios, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), Managed Asset Portfolios, LLC reported 62 stock positions worth $828.1 million. Its top holding was Sprott Physical Gold and Sil (CEF) at 6.2% of the portfolio, followed by Microsoft (MSFT, 5.2%) and Cisco Systems (CSCO, 4.6%). Compared with Q3 2025, it opened 13 new positions, sold out of 3, added to 21 and reduced 26. The biggest buy was a new position in Verizon Communications (VZ) and the biggest sale Johnson & Johnson (JNJ, shares −52%).
- Most Recent 13F
- Q2 2026
- Location
- ROCHESTER, MI
- CIK
- 0001600999
- Portfolio Value
- $828.1M (Q4 2025)
- SEC Filing
- 0001600999-26-000003 ↗ filed Jan 29, 2026
Holdings Value
Holdings 62 stocks · $828.1M
| CEF Sprott Physical Gold and Sil | 6.15% | 1,112,116 | $50.9M | Reduce -2.4% |
| MSFT Microsoft Corp. | 5.18% | 88,712 | $42.9M | Reduce -1.1% |
| CSCO Cisco Systems Inc. | 4.58% | 491,954 | $37.9M | Reduce -1.4% |
| GOOG Alphabet Inc. Class C | 4.06% | 107,201 | $33.6M | Reduce -1.0% |
| SNY Sanofi-ADR | 3.72% | 636,141 | $30.8M | Reduce -6.4% |
| NFG National Fuel Gas Co. | 3.68% | 380,797 | $30.5M | Reduce -0.1% |
| MDT Medtronic PLC | 3.62% | 312,301 | $30.0M | Add +1.1% |
| WMT Walmart Inc. | 3.50% | 260,297 | $29.0M | Reduce -0.3% |
| AMAT Applied Materials Inc. | 3.48% | 112,004 | $28.8M | Reduce -19.1% |
| TTEK Tetra Tech Inc. | 3.42% | 845,280 | $28.4M | Reduce -2.8% |
| NVS Novartis AG-Sponsored ADR | 3.31% | 198,636 | $27.4M | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 3.10% | 38,905 | $25.7M | Reduce -18.6% |
| TAK Takeda Pharmaceutic-SP ADR | 2.82% | 1,495,746 | $23.3M | Add +0.6% |
| BG Bunge Global SA | 2.73% | 253,644 | $22.6M | Reduce -2.3% |
| CVX Chevron Corp. | 2.63% | 142,637 | $21.7M | Add +4.3% |
| MDU Mdu Resources Group Inc. | 2.52% | 1,067,661 | $20.8M | Reduce -0.9% |
| AON Aon PLC Class A | 2.46% | 57,831 | $20.4M | Add +5.4% |
| HON Honeywell International Inc. | 2.37% | 100,682 | $19.6M | Add +2.8% |
| UL Unilever PLC-Sponsored ADR | 2.37% | 299,763 | $19.6M | Add +26.6% |
| ORANY Orange-Spon ADR | 2.27% | 1,126,917 | $18.8M | Reduce -29.1% |
| PSMT Pricesmart Inc. | 2.22% | 149,877 | $18.4M | Reduce -0.5% |
| V Visa Inc. Class A | 2.18% | 51,482 | $18.1M | Reduce -0.4% |
| JNJ Johnson & Johnson | 2.08% | 83,048 | $17.2M | Reduce -51.7% |
| FCX Freeport-McMoran Inc. | 2.06% | 336,548 | $17.1M | Add +0.6% |
| MOS The Mosaic Co. | 2.04% | 701,113 | $16.9M | Add +0.8% |
| VZ Verizon Communications Inc. | 2.02% | 410,382 | $16.7M | New |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.78% | 161,262 | $14.7M | Reduce -18.9% |
| ECG Everus Construction Group | 1.54% | 149,465 | $12.8M | Reduce -44.6% |
| MU Micron Technology Inc. | 1.49% | 43,312 | $12.4M | Reduce -46.7% |
| CME Cme Group Inc. | 1.38% | 41,978 | $11.5M | Add +1.1% |
| ARCO Arcos Dorados Holdings Inc. Class A | 1.31% | 1,476,299 | $10.8M | Add +2.7% |
| HD Home Depot Inc. | 1.31% | 31,432 | $10.8M | Add +0.0% |
| ETN Eaton Corp. PLC | 1.21% | 31,449 | $10.0M | Reduce -0.1% |
| WDAY Workday Inc. Class A | 1.20% | 46,258 | $9.9M | New |
| FBIN Fortune Brands Innovations I | 1.14% | 189,080 | $9.5M | Add +1.2% |
| GLDM SPDR Gold Minishares Trust | 1.03% | 100,303 | $8.6M | Reduce -6.3% |
| FIS Fidelity National Info Serv | 0.85% | 105,705 | $7.0M | Reduce -6.1% |
| UBER Uber Technologies Inc. | 0.77% | 78,208 | $6.4M | Add +837.3% |
| XLE SS Energy Select Sector | 0.72% | 132,711 | $5.9M | New |
| SOLS Solstice Adv Materials Inc. | 0.63% | 107,339 | $5.2M | Add +338.3% |
| QUAL iShares MSCI USA Quality Fac | 0.46% | 19,108 | $3.8M | New |
| EWL iShares MSCI Switzerland ETF | 0.41% | 56,302 | $3.4M | New |
| ACWI iShares MSCI Acwi ETF | 0.33% | 19,574 | $2.8M | Add +304.3% |
| XNTK SS SPDR Nyse Tech ETF | 0.31% | 9,322 | $2.6M | New |
| PM Philip Morris International | 0.26% | 13,272 | $2.1M | Add +0.2% |
| IXJ iShares Global Healthcare Et | 0.21% | 17,469 | $1.7M | New |
| XLI SS Industrial Select Sector | 0.17% | 8,913 | $1.4M | Add +270.0% |
| CPB The Campbell's Company | 0.12% | 35,949 | $1.0M | Add +20.6% |
| ZTS Zoetis Inc. | 0.10% | 6,779 | $853K | Reduce -19.3% |
| GNR State Street SPDR S&P Global | 0.09% | 12,547 | $780K | New |
| XCEM Columbia Em Core Ex-China | 0.09% | 20,075 | $770K | Reduce -1.3% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.09% | 29,027 | $721K | Add +1.5% |
| XLP SS Consumer Staples Sel Sect | 0.07% | 7,014 | $545K | No change |
| XLV SS Health Care Select Sector | 0.06% | 3,192 | $494K | Add +89.8% |
| USMV iShares MSCI USA Min Vol Fac | 0.06% | 4,918 | $463K | New |
| XLK SS Technology Select Sector | 0.05% | 2,980 | $429K | Add +49.9% |
| IYJ iShares U.S. Industrials ETF | 0.04% | 2,343 | $347K | New |
| XLB SS Materials Select Sector | 0.04% | 6,799 | $308K | New |
| AAPL Apple Inc. | 0.03% | 969 | $264K | Reduce -4.1% |
| EFAV iShares MSCI Eafe Min Vol Fa | 0.03% | 2,799 | $241K | New |
| XLC SS Comm Select Sector SPDR | 0.03% | 1,897 | $223K | No change |
| ACWX iShares MSCI Acwi Ex US ETF | 0.02% | 3,000 | $201K | New |
Portfolio Sells Q3 2025 → Q4 2025
| JNJ Johnson & Johnson | Reduce -51.7% | 2.08% | −1.87 |
| ECG Everus Construction Group | Reduce -44.6% | 1.54% | −1.32 |
| META Meta Platforms Inc. Class A | Reduce -18.6% | 3.10% | −1.24 |
| ORANY Orange-Spon ADR | Reduce -29.1% | 2.27% | −0.92 |
| COP Conocophillips | Sold out | 0.00% | −0.82 |
| NFG National Fuel Gas Co. | Reduce -0.1% | 3.68% | −0.68 |
| KTOS Kratos Defense & Security | Sold out | 0.00% | −0.59 |
| MSFT Microsoft Corp. | Reduce -1.1% | 5.18% | −0.57 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -18.9% | 1.78% | −0.48 |
| SNY Sanofi-ADR | Reduce -6.4% | 3.72% | −0.25 |
| ETN Eaton Corp. PLC | Reduce -0.1% | 1.21% | −0.25 |
| MU Micron Technology Inc. | Reduce -46.7% | 1.49% | −0.19 |
| TTEK Tetra Tech Inc. | Reduce -2.8% | 3.42% | −0.17 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.09 |
| FIS Fidelity National Info Serv | Reduce -6.1% | 0.85% | −0.07 |
| ZTS Zoetis Inc. | Reduce -19.3% | 0.10% | −0.05 |
| PSMT Pricesmart Inc. | Reduce -0.5% | 2.22% | −0.04 |
| AMAT Applied Materials Inc. | Reduce -19.1% | 3.48% | −0.03 |
| V Visa Inc. Class A | Reduce -0.4% | 2.18% | −0.00 |
| AAPL Apple Inc. | Reduce -4.1% | 0.03% | 0.00 |
| XCEM Columbia Em Core Ex-China | Reduce -1.3% | 0.09% | +0.00 |
| GLDM SPDR Gold Minishares Trust | Reduce -6.3% | 1.03% | +0.02 |
| BG Bunge Global SA | Reduce -2.3% | 2.73% | +0.12 |
| MDU Mdu Resources Group Inc. | Reduce -0.9% | 2.52% | +0.14 |
| NVS Novartis AG-Sponsored ADR | Reduce -0.0% | 3.31% | +0.15 |
| WMT Walmart Inc. | Reduce -0.3% | 3.50% | +0.17 |
| CSCO Cisco Systems Inc. | Reduce -1.4% | 4.58% | +0.35 |
| GOOG Alphabet Inc. Class C | Reduce -1.0% | 4.06% | +0.80 |
| CEF Sprott Physical Gold and Sil | Reduce -2.4% | 6.15% | +0.97 |
Portfolio Buys Q3 2025 → Q4 2025
| VZ Verizon Communications Inc. | New | 2.02% | +2.02 |
| WDAY Workday Inc. Class A | New | 1.20% | +1.20 |
| XLE SS Energy Select Sector | New | 0.72% | +0.72 |
| UBER Uber Technologies Inc. | Add +837.3% | 0.77% | +0.67 |
| SOLS Solstice Adv Materials Inc. | Add +338.3% | 0.63% | +0.48 |
| QUAL iShares MSCI USA Quality Fac | New | 0.46% | +0.46 |
| FCX Freeport-McMoran Inc. | Add +0.6% | 2.06% | +0.44 |
| UL Unilever PLC-Sponsored ADR | Add +26.6% | 2.37% | +0.41 |
| EWL iShares MSCI Switzerland ETF | New | 0.41% | +0.41 |
| XNTK SS SPDR Nyse Tech ETF | New | 0.31% | +0.31 |
| ACWI iShares MSCI Acwi ETF | Add +304.3% | 0.33% | +0.25 |
| IXJ iShares Global Healthcare Et | New | 0.21% | +0.21 |
| TAK Takeda Pharmaceutic-SP ADR | Add +0.6% | 2.82% | +0.12 |
| XLI SS Industrial Select Sector | Add +270.0% | 0.17% | +0.12 |
| ARCO Arcos Dorados Holdings Inc. Class A | Add +2.7% | 1.31% | +0.11 |
| GNR State Street SPDR S&P Global | New | 0.09% | +0.09 |
| USMV iShares MSCI USA Min Vol Fac | New | 0.06% | +0.06 |
| IYJ iShares U.S. Industrials ETF | New | 0.04% | +0.04 |
| AON Aon PLC Class A | Add +5.4% | 2.46% | +0.04 |
| XLB SS Materials Select Sector | New | 0.04% | +0.04 |
| XLV SS Health Care Select Sector | Add +89.8% | 0.06% | +0.03 |
| EFAV iShares MSCI Eafe Min Vol Fa | New | 0.03% | +0.03 |
| ACWX iShares MSCI Acwi Ex US ETF | New | 0.02% | +0.02 |
| XLK SS Technology Select Sector | Add +49.9% | 0.05% | +0.02 |
| CPB The Campbell's Company | Add +20.6% | 0.12% | +0.00 |
| CVX Chevron Corp. | Add +4.3% | 2.63% | −0.00 |
| CME Cme Group Inc. | Add +1.1% | 1.38% | −0.00 |
| PM Philip Morris International | Add +0.2% | 0.26% | −0.01 |
| ONT Onterris Inc. | Add +1.5% | 0.09% | −0.01 |
| MDT Medtronic PLC | Add +1.1% | 3.62% | −0.02 |
| FBIN Fortune Brands Innovations I | Add +1.2% | 1.14% | −0.09 |
| HON Honeywell International Inc. | Add +2.8% | 2.37% | −0.18 |
| HD Home Depot Inc. | Add +0.0% | 1.31% | −0.27 |
| MOS The Mosaic Co. | Add +0.8% | 2.04% | −0.95 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 51 | $874.9M | AMAT, CVX, CEF, TTEK, GOOG |
| Q1 2026 | 51 | $834.4M | CVX, CEF, AMAT, NFG, TAK |
| Q4 2025 | 62 | $828.1M | CEF, MSFT, CSCO, GOOG, SNY |
| Q3 2025 | 51 | $807.7M | MSFT, CEF, NFG, META, CSCO |
| Q2 2025 | 48 | $769.7M | MSFT, META, CSCO, CEF, NFG |
| Q1 2025 | 50 | $721.8M | MSFT, SNY, CEF, CSCO, NFG |
| Q4 2024 | 52 | $674.6M | MSFT, CSCO, SNY, META, CEF |
| Q3 2024 | 48 | $707.9M | MSFT, SNY, MDU, TTEK, CSCO |
| Q2 2024 | 43 | $674.5M | MSFT, TTEK, BG, SNY, MDU |
| Q1 2024 | 40 | $687.0M | MSFT, BG, TTEK, SNY, CSCO |