Manchester Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Manchester Capital Management LLC reported 1,341 stock positions worth $734.7 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 15.2% of the portfolio, followed by Apple (AAPL, 8.9%) and United Parcel Service Class B (UPS, 4.6%). Compared with Q3 2025, it opened 238 new positions, sold out of 188, added to 478 and reduced 389. The biggest buy was Alphabet Class C (GOOG, shares +9%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −30%).
- Most Recent 13F
- Q2 2026
- Location
- MANCHESTER, VT
- CIK
- 0001393389
- Portfolio Value
- $734.7M (Q4 2025)
- SEC Filing
- 0001393389-26-000001 ↗ filed Feb 11, 2026
Holdings Value
Holdings 1,341 stocks · $734.7M
| SPY SS SPDR S&P 500 ETF Trust-US | 15.23% | 164,117 | $111.9M | Reduce -0.4% |
| AAPL Apple Inc. | 8.90% | 240,521 | $65.4M | Add +1.3% |
| UPS United Parcel Service Class B | 4.61% | 341,236 | $33.8M | Reduce -10.6% |
| AMZN Amazon.com Inc. | 3.45% | 109,804 | $25.3M | Add +4.9% |
| VOO Vanguard S&P 500 ETF | 3.12% | 36,571 | $22.9M | Reduce -5.4% |
| FTAI Ftai Aviation Ltd. | 2.70% | 100,950 | $19.9M | Reduce -5.7% |
| MSFT Microsoft Corp. | 2.59% | 39,341 | $19.0M | Add +9.2% |
| NVDA Nvidia Corp. | 2.49% | 98,272 | $18.3M | Add +20.2% |
| GOOG Alphabet Inc. Class C | 2.46% | 57,606 | $18.1M | Add +8.9% |
| DSI iShares ESG MSCI KLD 400 ETF | 2.43% | 138,607 | $17.9M | Add +2.7% |
| GOOGL Alphabet Inc. Class A | 2.12% | 49,770 | $15.6M | Add +2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.89% | 27,658 | $13.9M | Reduce -0.5% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.32% | 33,295 | $9.7M | Reduce -1.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.30% | 50,035 | $9.6M | Reduce -0.7% |
| TSLA Tesla Inc. | 1.13% | 18,449 | $8.3M | Add +52.6% |
| XLK SS Technology Select Sector | 1.02% | 51,920 | $7.5M | Reduce -3.6% |
| OEF iShares S&P 100 ETF | 0.99% | 21,264 | $7.3M | No change |
| ORCL Oracle Corp. | 0.96% | 36,230 | $7.1M | Add +0.3% |
| VGT Vanguard Info Tech ETF | 0.87% | 8,471 | $6.4M | Reduce -4.2% |
| IWM iShares Russell 2000 ETF | 0.73% | 21,821 | $5.4M | Add +7.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.72% | 7 | $5.3M | Reduce -30.0% |
| VT Vanguard Tot World STK ETF | 0.69% | 35,979 | $5.1M | Reduce -2.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.66% | 18,899 | $4.9M | Reduce -2.7% |
| VYM Vanguard High DVD Yield ETF | 0.65% | 33,260 | $4.8M | Add +3.3% |
| JNJ Johnson & Johnson | 0.63% | 22,386 | $4.6M | Add +3.8% |
| JPM JPMorgan Chase & Co. | 0.61% | 13,851 | $4.5M | Add +16.1% |
| ABBV Abbvie Inc. | 0.59% | 18,990 | $4.3M | Reduce -5.0% |
| LLY Eli Lilly & Co. | 0.56% | 3,840 | $4.1M | Add +7.7% |
| VNQ Vanguard Real Estate ETF | 0.54% | 45,105 | $4.0M | Add +6.8% |
| MRK Merck & Co. Inc. | 0.52% | 36,590 | $3.9M | Add +0.7% |
| VGSH Vanguard Short-Term Treasury | 0.51% | 64,344 | $3.8M | Add +19.4% |
| BDX Becton Dickinson and Co. | 0.50% | 19,092 | $3.7M | Add +3.9% |
| WMT Walmart Inc. | 0.50% | 32,847 | $3.7M | Add +0.5% |
| HD Home Depot Inc. | 0.49% | 10,529 | $3.6M | Reduce -0.8% |
| APH Amphenol Corp. Class A | 0.46% | 25,117 | $3.4M | Add +1.5% |
| AVGO Broadcom Inc. | 0.46% | 9,760 | $3.4M | Reduce -0.4% |
| VEA Vanguard Ftse Developed ETF | 0.46% | 53,766 | $3.4M | Add +2.1% |
| QCOM Qualcomm Inc. | 0.44% | 18,952 | $3.2M | Reduce -11.6% |
| COST Costco Wholesale Corp. | 0.43% | 3,673 | $3.2M | Add +20.3% |
| VWO Vanguard Ftse Emerging Marke | 0.43% | 58,269 | $3.1M | Reduce -1.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.42% | 9,226 | $3.1M | Reduce -2.6% |
| V Visa Inc. Class A | 0.36% | 7,514 | $2.6M | Add +20.6% |
| GLD SPDR Gold Shares | 0.35% | 6,582 | $2.6M | Reduce -1.9% |
| PG The Procter & Gamble Co. | 0.34% | 17,507 | $2.5M | Add +8.1% |
| MCD McDonald's Corp. | 0.34% | 8,083 | $2.5M | Add +4.3% |
| IVV iShares Core S&P 500 ETF | 0.33% | 3,585 | $2.5M | Reduce -20.6% |
| ABT Abbott Laboratories | 0.31% | 18,057 | $2.3M | Reduce -7.9% |
| RKT Rocket Cos Inc. Class A | 0.31% | 116,466 | $2.3M | Add +0.5% |
| MA Mastercard Inc. Class A | 0.30% | 3,863 | $2.2M | Add +9.7% |
| IWD iShares Russell 1000 Value E | 0.30% | 10,455 | $2.2M | Reduce -4.0% |
| IWB iShares Russell 1000 ETF | 0.29% | 5,774 | $2.2M | Add +2.0% |
| IVW iShares S&P 500 Growth ETF | 0.29% | 17,492 | $2.2M | No change |
| BKNG Booking Holdings Inc. | 0.29% | 392 | $2.1M | Add +9.8% |
| VEU Vanguard Ftse All-World Ex-U | 0.28% | 28,424 | $2.1M | Add +0.1% |
| UNP Union Pacific Corp. | 0.28% | 8,999 | $2.1M | Add +5.3% |
| CSCO Cisco Systems Inc. | 0.28% | 26,508 | $2.0M | Add +8.5% |
| IEFA iShares Core MSCI Eafe ETF | 0.28% | 22,731 | $2.0M | Reduce -0.8% |
| IWR iShares Russell Mid-Cap ETF | 0.28% | 21,068 | $2.0M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.27% | 3,285 | $2.0M | Reduce -37.5% |
| EOG EOG Resources Inc. | 0.27% | 18,641 | $2.0M | Reduce -0.3% |
| LOW Lowe's Cos Inc. | 0.26% | 7,838 | $1.9M | Add +5.8% |
| UPST Upstart Holdings Inc. | 0.26% | 43,123 | $1.9M | No change |
| UNH Unitedhealth Group Inc. | 0.24% | 5,399 | $1.8M | Reduce -1.8% |
| IWF iShares Russell 1000 Growth | 0.24% | 3,746 | $1.8M | Reduce -7.0% |
| BILL Bill Holdings Inc. | 0.23% | 30,919 | $1.7M | No change |
| AXP American Express Co. | 0.23% | 4,492 | $1.7M | Add +8.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.23% | 3,391 | $1.7M | Reduce -2.5% |
| VFH Vanguard Financials ETF | 0.22% | 12,162 | $1.6M | Reduce -0.1% |
| GILD Gilead Sciences Inc. | 0.22% | 13,133 | $1.6M | Reduce -3.1% |
| PTON Peloton Interactive Inc. Class A | 0.22% | 260,484 | $1.6M | Add +9.7% |
| CVX Chevron Corp. | 0.22% | 10,509 | $1.6M | Reduce -7.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 10,352 | $1.6M | Add +4.9% |
| SHOP Shopify Inc. Class A | 0.22% | 9,846 | $1.6M | Add +8.4% |
| META Meta Platforms Inc. Class A | 0.21% | 2,293 | $1.5M | Reduce -6.9% |
| CBOE Cboe Global Markets Inc. | 0.20% | 5,899 | $1.5M | Reduce -2.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 4,973 | $1.5M | Reduce -4.6% |
| RDDT Reddit Inc. Class A | 0.20% | 6,358 | $1.5M | Add +0.1% |
| VCIT Vanguard Int-Term Corporate | 0.20% | 17,407 | $1.5M | New |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.20% | 4,787 | $1.4M | Add +0.1% |
| SYK Stryker Corp. | 0.18% | 3,727 | $1.3M | Add +46.4% |
| PEP Pepsico Inc. | 0.18% | 9,087 | $1.3M | Add +19.5% |
| AMGN Amgen Inc. | 0.17% | 3,906 | $1.3M | Reduce -1.8% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.16% | 4,337 | $1.2M | Reduce -2.1% |
| CEG Constellation Energy | 0.16% | 3,389 | $1.2M | Reduce -2.4% |
| ISRG Intuitive Surgical Inc. | 0.16% | 2,109 | $1.2M | Add +52.9% |
| GWW WW Grainger Inc. | 0.16% | 1,180 | $1.2M | Add +19.9% |
| TMO Thermo Fisher Scientific Inc. | 0.16% | 2,012 | $1.2M | Add +5.3% |
| RTX RTX Corp. | 0.15% | 6,149 | $1.1M | Reduce -0.9% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.15% | 20,851 | $1.1M | New |
| MDY State Street SPDR S&P Midcap | 0.15% | 1,799 | $1.1M | No change |
| C Citigroup Inc. | 0.14% | 9,035 | $1.1M | Add +0.2% |
| LH Labcorp Holdings Inc. | 0.14% | 4,170 | $1.0M | Add +0.2% |
| DBEF Xtrackers MSCI Eafe Hedged E | 0.14% | 21,710 | $1.0M | Add +5.2% |
| VUSB Vanguard Ultra Short Bond Et | 0.14% | 20,922 | $1.0M | No change |
| ADP Automatic Data Processing | 0.14% | 4,019 | $1.0M | Add +22.1% |
| ADI Analog Devices Inc. | 0.14% | 3,810 | $1.0M | Add +7.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.14% | 18,303 | $1.0M | Add +19.4% |
| AMP Ameriprise Financial Inc. | 0.13% | 2,016 | $989K | Reduce -8.2% |
| PH Parker Hannifin Corp. | 0.13% | 1,110 | $976K | Reduce -14.5% |
| PNC PNC Financial Services Group | 0.13% | 4,660 | $973K | Add +17.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $118 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 39 | $118 | Reduce -7.6% |
Total filed on the 13F, all lines: $734.7M.
Portfolio Sells Q3 2025 → Q4 2025
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -30.0% | 0.72% | −0.30 |
| TPL Texas Pacific Land Corp. | Reduce -95.9% | 0.01% | −0.22 |
| AME Ametek Inc. | Reduce -62.5% | 0.12% | −0.18 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −0.16 |
| XYL Xylem Inc. | Reduce -91.3% | 0.01% | −0.16 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -37.5% | 0.27% | −0.15 |
| CWCO Consolidated Water Co.-Ord SH | Reduce -98.5% | 0.00% | −0.15 |
| SBS Cia Saneamento Basico DE-ADR | Sold out | 0.00% | −0.15 |
| PNR Pentair PLC | Reduce -99.2% | 0.00% | −0.15 |
| MWA Mueller Water Products Inc. Class A | Reduce -98.2% | 0.00% | −0.15 |
| STN Stantec Inc. | Sold out | 0.00% | −0.15 |
| WTS Watts Water Technologies-A | Reduce -96.9% | 0.00% | −0.14 |
| GRC Gorman-Rupp Co. | Reduce -98.2% | 0.00% | −0.14 |
| AMD Advanced Micro Devices | Reduce -71.8% | 0.08% | −0.14 |
| FELE Franklin Electric Co. Inc. | Reduce -96.8% | 0.00% | −0.14 |
| ZWS Zurn Elkay Water Solutions C | Reduce -99.6% | 0.00% | −0.10 |
| TTEK Tetra Tech Inc. | Reduce -97.4% | 0.00% | −0.10 |
| MSEX Middlesex Water Co. | Sold out | 0.00% | −0.10 |
| VOO Vanguard S&P 500 ETF | Reduce -5.4% | 3.12% | −0.09 |
| CWT California Water Service Grp | Reduce -98.5% | 0.00% | −0.09 |
| HD Home Depot Inc. | Reduce -0.8% | 0.49% | −0.09 |
| SOXX iShares Semiconductor ETF | Reduce -89.3% | 0.01% | −0.09 |
| WTRG Essential Utilities Inc. | Reduce -83.9% | 0.02% | −0.09 |
| Z Zillow Group Inc. Class C | Reduce -39.6% | 0.10% | −0.09 |
| FISV Fiserv Inc. | Reduce -59.7% | 0.02% | −0.09 |
| TQQQ Proshares Ultrapro QQQ | Sold out | 0.00% | −0.08 |
| VLTO Veralto Corp. | Reduce -84.6% | 0.01% | −0.08 |
| AWK American Water Works Co. Inc. | Reduce -65.8% | 0.04% | −0.08 |
| AWR American States Water Co. | Reduce -99.6% | 0.00% | −0.08 |
| IVV iShares Core S&P 500 ETF | Reduce -20.6% | 0.33% | −0.08 |
| CNM Core & Main Inc. Class A | Reduce -100.0% | 0.00% | −0.07 |
| DPZ Domino's Pizza Inc. | Reduce -99.5% | 0.00% | −0.07 |
| HON Honeywell International Inc. | Reduce -46.9% | 0.07% | −0.07 |
| NWPX NWPX Infrastructure Inc. | Reduce -92.5% | 0.01% | −0.07 |
| RRX Regal Rexnord Corp. | Reduce -99.9% | 0.00% | −0.07 |
| GWRS Global Water Resources Inc. | Sold out | 0.00% | −0.07 |
| LNN Lindsay Corp. | Reduce -94.5% | 0.00% | −0.07 |
| PFE Pfizer Inc. | Reduce -36.6% | 0.10% | −0.06 |
| ERII Energy Recovery Inc. | Sold out | 0.00% | −0.06 |
| ETHA iShares Ethereum Trust ETF | Sold out | 0.00% | −0.06 |
| GBDC Golub Capital BDC Inc. | Reduce -77.9% | 0.02% | −0.06 |
| NKE Nike Inc. Class B | Reduce -32.3% | 0.09% | −0.06 |
| BAX Baxter International Inc. | Reduce -99.5% | 0.00% | −0.05 |
| ARTNA Artesian Resources Corp. Class A | Reduce -98.4% | 0.00% | −0.05 |
| YORW York Water Co. | Sold out | 0.00% | −0.05 |
| TECL Dire Dai Tec Bull 3X ETF-Usd | Sold out | 0.00% | −0.05 |
| EL Estee Lauder Companies Class A | Reduce -97.3% | 0.00% | −0.05 |
| ABT Abbott Laboratories | Reduce -7.9% | 0.31% | −0.05 |
| GRAL Grail Inc. | Sold out | 0.00% | −0.05 |
| OUNZ Vaneck Merk Gold ETF | Sold out | 0.00% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | Add +8.9% | 2.46% | +0.71 |
| AAPL Apple Inc. | Add +1.3% | 8.90% | +0.69 |
| GOOGL Alphabet Inc. Class A | Add +2.2% | 2.12% | +0.51 |
| NVDA Nvidia Corp. | Add +20.2% | 2.49% | +0.42 |
| TSLA Tesla Inc. | Add +52.6% | 1.13% | +0.40 |
| AMZN Amazon.com Inc. | Add +4.9% | 3.45% | +0.33 |
| VCIT Vanguard Int-Term Corporate | New | 0.20% | +0.20 |
| LLY Eli Lilly & Co. | Add +7.7% | 0.56% | +0.19 |
| IGIB iShares 5-10Y Inv Grade Corp. | New | 0.15% | +0.15 |
| DSI iShares ESG MSCI KLD 400 ETF | Add +2.7% | 2.43% | +0.12 |
| MRK Merck & Co. Inc. | Add +0.7% | 0.52% | +0.11 |
| JPM JPMorgan Chase & Co. | Add +16.1% | 0.61% | +0.10 |
| JNJ Johnson & Johnson | Add +3.8% | 0.63% | +0.09 |
| VGSH Vanguard Short-Term Treasury | Add +19.4% | 0.51% | +0.08 |
| ISRG Intuitive Surgical Inc. | Add +52.9% | 0.16% | +0.08 |
| ASML ASML Holding NV-NY Reg SHS | Add +800.0% | 0.09% | +0.08 |
| BILS SS Spdrb B 3-12M T-Bill ETF | New | 0.07% | +0.07 |
| V Visa Inc. Class A | Add +20.6% | 0.36% | +0.07 |
| IWM iShares Russell 2000 ETF | Add +7.4% | 0.73% | +0.06 |
| MSFT Microsoft Corp. | Add +9.2% | 2.59% | +0.06 |
| CSCO Cisco Systems Inc. | Add +8.5% | 0.28% | +0.05 |
| SYK Stryker Corp. | Add +46.4% | 0.18% | +0.05 |
| ZG Zillow Group Inc. Class A | New | 0.05% | +0.05 |
| COST Costco Wholesale Corp. | Add +20.3% | 0.43% | +0.05 |
| APH Amphenol Corp. Class A | Add +1.5% | 0.46% | +0.05 |
| NFLX Netflix Inc. | Add +99.0% | 0.13% | +0.05 |
| IEMG iShares Core MSCI Emerging | Add +51.3% | 0.12% | +0.04 |
| ACN Accenture PLC Class A | Add +42.7% | 0.12% | +0.04 |
| WMT Walmart Inc. | Add +0.5% | 0.50% | +0.04 |
| COP Conocophillips | Add +192.6% | 0.06% | +0.04 |
| AXP American Express Co. | Add +8.0% | 0.23% | +0.04 |
| DE Deere & Co. | Add +52.9% | 0.11% | +0.04 |
| BDX Becton Dickinson and Co. | Add +3.9% | 0.50% | +0.04 |
| KLAC KLA Corp. | Add +116.9% | 0.06% | +0.04 |
| TM Toyota Motor Corp. -Spon ADR | New | 0.04% | +0.04 |
| GWW WW Grainger Inc. | Add +19.9% | 0.16% | +0.03 |
| SGOV iShares 0-3 Month Treasury B | New | 0.03% | +0.03 |
| VYM Vanguard High DVD Yield ETF | Add +3.3% | 0.65% | +0.03 |
| AZN Astrazeneca PLC-Spons ADR | Add +2851.1% | 0.03% | +0.03 |
| ROST Ross Stores Inc. | Add +111.9% | 0.05% | +0.03 |
| TMO Thermo Fisher Scientific Inc. | Add +5.3% | 0.16% | +0.03 |
| PEP Pepsico Inc. | Add +19.5% | 0.18% | +0.03 |
| SHOP Shopify Inc. Class A | Add +8.4% | 0.22% | +0.03 |
| BAC Bank of America Corp. | Add +19.4% | 0.14% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +2.1% | 0.46% | +0.03 |
| CINF Cincinnati Financial Corp. | Add +118.3% | 0.05% | +0.03 |
| AMAT Applied Materials Inc. | Add +68.9% | 0.05% | +0.03 |
| MA Mastercard Inc. Class A | Add +9.7% | 0.30% | +0.03 |
| NVS Novartis AG-Sponsored ADR | Add +327.3% | 0.04% | +0.03 |
| HSBC HSBC Holdings PLC-Spons ADR | Add +122.6% | 0.04% | +0.03 |
Options Activity Q3 2025 → Q4 2025
| AAPL Apple Inc. | put | Sold out | 5,000 | $1.3Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | Reduce -7.6% | 39 | $118 |
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 | 1,312 | $768.4M | SPY, AAPL, UPS, VOO, AMZN |
| Q1 2026 | 1,305 | $694.3M | SPY, AAPL, UPS, FTAI, AMZN |
| Q4 2025 | 1,341 | $734.7M | SPY, AAPL, UPS, AMZN, VOO |
| Q3 2025 | 1,288 | $736.7M | SPY, AAPL, UPS, VOO, AMZN |
| Q2 2025 | 1,199 | $760.2M | SPY, AAPL, UPS, AMZN, VOO |
| Q1 2025 | 1,169 | $814.3M | SPY, AAPL, UPS, TROW, VOO |
| Q4 2024 | 1,153 | $861.5M | SPY, AAPL, UPS, TROW, VOO |
| Q3 2024 | 1,175 | $854.1M | SPY, UPS, AAPL, TROW, AMZN |
| Q2 2024 | 1,146 | $831.7M | SPY, UPS, AAPL, TROW, AMZN |
| Q1 2024 | 1,029 | $811.1M | SPY, UPS, AAPL, TROW, AMZN |