Marshall Investment Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 8, 2025), Marshall Investment Management, LLC reported 248 stock positions worth $161.0 million. Its top holding was SPDR Gold Shares (GLD) at 6.4% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 5.8%) and First Trust Rising Dividend (RDVY, 4.9%). Compared with Q4 2024, it opened 117 new positions, sold out of 4, added to 59 and reduced 54. The biggest buy was SPDR Gold Shares (GLD, shares +3796%) and the biggest sale SS SPDR P S&P 500 Value ETF (SPYV, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLETON, CO
- CIK
- 0002022427
- Portfolio Value
- $161.0M (Q1 2025)
- SEC Filing
- 0001420506-25-000926 ↗ filed May 8, 2025
Holdings Value
Holdings 248 stocks · $161.0M
| GLD SPDR Gold Shares | 6.37% | 35,611 | $10.3M | Add +3796.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.84% | 17,646 | $9.4M | Reduce -0.8% |
| RDVY First Trust Rising Dividend | 4.92% | 135,196 | $7.9M | Add +18.6% |
| FVD First Trust Value Line DVD | 4.37% | 157,777 | $7.0M | Add +169.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.29% | 12,342 | $6.9M | Add +18.1% |
| MSFT Microsoft Corp. | 4.18% | 17,936 | $6.7M | Add +3.6% |
| AMZN Amazon.com Inc. | 3.06% | 25,867 | $4.9M | Add +5.3% |
| NOBL Proshares S&P 500 Dividend A | 2.77% | 43,578 | $4.5M | Add +3090.2% |
| AAPL Apple Inc. | 2.46% | 17,809 | $4.0M | Reduce -14.7% |
| MFUS PIMCO Rafi Dynamic Multi-Fac filed as PIMCO EQUITY SER | 2.45% | 78,445 | $3.9M | Reduce -27.2% |
| USMC Principal US Mega-Cap ETF | 2.39% | 67,650 | $3.8M | New |
| CGCV Cap Group Conservative Eq filed as CAPITAL GROUP CONSERVATIVE E | 2.38% | 141,042 | $3.8M | New |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 2.36% | 106,562 | $3.8M | New |
| AIRR First Trust Rba American Ind | 2.34% | 55,253 | $3.8M | Reduce -36.9% |
| SOXQ Invesco PHLX Semiconductor | 2.32% | 111,175 | $3.7M | Reduce -12.5% |
| JPM JPMorgan Chase & Co. | 2.20% | 14,432 | $3.5M | Reduce -7.3% |
| FV First Trust DW Focus 5 Fund | 1.89% | 55,604 | $3.1M | Reduce -39.9% |
| FPEI First Trust Institutional PR | 1.83% | 157,523 | $2.9M | Reduce -13.4% |
| XOM Exxon Mobil Corp. | 1.80% | 24,362 | $2.9M | Reduce -3.7% |
| NVDA Nvidia Corp. | 1.74% | 25,907 | $2.8M | Reduce -8.1% |
| LLY Eli Lilly & Co. | 1.74% | 3,399 | $2.8M | Add +4.3% |
| DUK Duke Energy Corp. | 1.62% | 21,422 | $2.6M | Add +3.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.61% | 7,353 | $2.6M | Add +0.9% |
| GOOG Alphabet Inc. Class C | 1.57% | 16,135 | $2.5M | Add +6.0% |
| FDL First Trust Morn DVD Lead Inc. | 1.56% | 57,743 | $2.5M | Add +65.1% |
| META Meta Platforms Inc. Class A | 1.55% | 4,332 | $2.5M | Reduce -3.4% |
| VZ Verizon Communications Inc. | 1.52% | 53,815 | $2.4M | Add +6.6% |
| FYC First Trust Small Cap Growth | 1.52% | 35,453 | $2.4M | Reduce -46.5% |
| FTCS First Trust Capital Strength | 1.46% | 26,211 | $2.3M | Reduce -10.2% |
| WMT Walmart Inc. | 1.42% | 25,951 | $2.3M | Reduce -20.2% |
| XSMO Invesco S&P Smallcap Momentu | 1.22% | 31,289 | $2.0M | Reduce -6.9% |
| AMGN Amgen Inc. | 1.20% | 6,210 | $1.9M | Add +4.6% |
| QQEW First TR Nasdaq-100 Sel Eq | 1.19% | 15,847 | $1.9M | Reduce -8.2% |
| ARKW ARK Next Generation Technolo | 0.93% | 15,824 | $1.5M | Reduce -3.4% |
| JNJ Johnson & Johnson | 0.91% | 8,802 | $1.5M | Add +8.7% |
| NLR Vaneck Urani & Nuclr ETF-Usd | 0.89% | 19,632 | $1.4M | New |
| SDVY First Trust Smid Cap Rising | 0.87% | 41,830 | $1.4M | Add +1.6% |
| KIE SS SPDR S&P Insurance ETF | 0.87% | 23,049 | $1.4M | Reduce -5.3% |
| PAVE Global X US Infrastructure | 0.80% | 34,216 | $1.3M | Add +4.0% |
| VOO Vanguard S&P 500 ETF | 0.79% | 2,467 | $1.3M | Add +0.8% |
| KBWP Invesco KBW Property & Casua | 0.73% | 9,385 | $1.2M | Reduce -4.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.69% | 14,147 | $1.1M | Add +3.0% |
| XES SS SPDR S&P Og Eqp & Serv | 0.67% | 15,010 | $1.1M | New |
| EIPX FT Energy Inc. Partners Strat | 0.65% | 40,412 | $1.1M | New |
| PXJ Invesco Oil & Gas Services E | 0.65% | 40,715 | $1.0M | New |
| FNX First Trust Mid Cap Core Alp | 0.51% | 7,571 | $825K | Add +0.6% |
| FIW First Trust Water ETF | 0.48% | 7,734 | $779K | Add +7.8% |
| CIBR First Trust Nasdaq Cybersecu | 0.47% | 11,995 | $756K | Add +2854.4% |
| MPLX MPLX LP | 0.35% | 10,528 | $563K | No change |
| VOOV Vanguard S&P 500 Value ETF | 0.31% | 2,751 | $507K | Add +15.1% |
| WEC WEC Energy Group Inc. | 0.29% | 4,336 | $473K | Reduce -1.1% |
| LMT Lockheed Martin Corp. | 0.28% | 1,006 | $450K | Reduce -11.2% |
| RDVI FT Vest Rising Dividend Achi | 0.25% | 17,029 | $404K | Add +11.0% |
| FTHI Fthi/First Trust Exchange-TR | 0.23% | 16,716 | $365K | Add +11.6% |
| FTQI First Trust Nasdaq Buywrite | 0.22% | 18,445 | $348K | Add +11.8% |
| SCHG Schwab US Large-Cap Growth | 0.21% | 13,797 | $345K | Add +3437.7% |
| JGRO JPMorgan Active Growth ETF | 0.19% | 4,234 | $312K | New |
| VCRB Vanguard Core Bond ETF | 0.19% | 3,983 | $308K | Add +253.7% |
| EMLP First Trust North American E | 0.19% | 8,095 | $303K | Add +1.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 1,736 | $288K | Reduce -12.5% |
| FMB First Trust Managed Municipa | 0.17% | 5,516 | $278K | Add +1.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.16% | 685 | $254K | Reduce -50.3% |
| OXY Occidental Petroleum Corp. | 0.16% | 5,144 | $254K | Reduce -1.6% |
| CVS CVS Health Corp. | 0.16% | 3,705 | $251K | No change |
| V Visa Inc. Class A | 0.15% | 699 | $245K | Reduce -5.2% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.14% | 948 | $232K | Add +157.6% |
| PPA Invesco Aerospace & Defense | 0.14% | 1,924 | $224K | Reduce -77.4% |
| HYXF iShares ESG Adv High Yield | 0.14% | 4,813 | $223K | New |
| SPYV SS SPDR P S&P 500 Value ETF | 0.14% | 4,263 | $218K | Reduce -97.3% |
| RTX RTX Corp. | 0.12% | 1,408 | $186K | Add +5.2% |
| PM Philip Morris International | 0.11% | 1,079 | $171K | Add +2.9% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.10% | 907 | $169K | Reduce -0.6% |
| NUDM Nuveen ESG Intl Devel MRK Eq | 0.10% | 5,275 | $168K | New |
| FTXN First Trust Nasdaq Oil & Gas | 0.10% | 5,487 | $166K | Reduce -84.7% |
| JHMM John Hancock Multi Fact Mid | 0.10% | 2,895 | $166K | Reduce -0.2% |
| VEA Vanguard Ftse Developed ETF | 0.10% | 3,222 | $164K | Reduce -14.8% |
| VMC Vulcan Materials Co. | 0.10% | 699 | $163K | Add +0.4% |
| GS Goldman Sachs Group Inc. | 0.10% | 282 | $154K | Add +1.1% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.10% | 596 | $154K | Reduce -17.7% |
| USB US Bancorp | 0.09% | 3,611 | $152K | No change |
| XLE SS Energy Select Sector | 0.09% | 1,621 | $151K | Reduce -13.9% |
| KO The Coca-Cola Co. | 0.09% | 2,069 | $148K | Add +0.5% |
| IVV iShares Core S&P 500 ETF | 0.09% | 256 | $144K | No change |
| ARKK ARK Innovation ETF | 0.08% | 2,700 | $128K | Reduce -18.4% |
| FLOT iShares Floating Rate Bond E | 0.08% | 2,447 | $125K | Add +6.9% |
| CSCO Cisco Systems Inc. | 0.07% | 1,926 | $119K | Add +1.4% |
| DGRO iShares Core Dividend Growth | 0.07% | 1,776 | $110K | New |
| ESML iShares ESG Aware MSCI USA S | 0.07% | 2,742 | $105K | New |
| PANW Palo Alto Networks Inc. | 0.06% | 612 | $104K | Reduce -30.3% |
| FPE FT-Preferred Secur & Inc. ETF | 0.06% | 5,749 | $101K | Add +2.4% |
| UPS United Parcel Service Class B | 0.06% | 844 | $93K | Reduce -3.6% |
| SYY Sysco Corp. | 0.05% | 1,138 | $85K | Add +1.7% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.05% | 328 | $83K | Reduce -1.8% |
| NUMV Nuveen ESG Mid-Cap Value ETF | 0.05% | 2,389 | $82K | Reduce -50.1% |
| NUMG Nuveen ESG Mid-Cap Grow ETF | 0.05% | 1,818 | $78K | Reduce -0.9% |
| PLTR Palantir Technologies Inc. Class A | 0.05% | 917 | $77K | New |
| COST Costco Wholesale Corp. | 0.05% | 79 | $75K | No change |
| NDAQ Nasdaq Inc. | 0.05% | 972 | $74K | Add +0.6% |
| DIVO Amplify CWP Enhan Divid ETF | 0.05% | 1,797 | $73K | Reduce -13.2% |
| LMBS First Trust Low Duration Opp | 0.04% | 1,419 | $70K | Reduce -46.6% |
Portfolio Sells Q4 2024 → Q1 2025
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -97.3% | 0.14% | −4.75 |
| XMMO Invesco S&P Midcap Momentum | Reduce -99.5% | 0.02% | −3.18 |
| IGPT Invesco AI and Next Gen Soft | Reduce -99.8% | 0.01% | −3.07 |
| RFG Invesco S&P Midcap 400 Pure | Reduce -100.0% | 0.00% | −2.84 |
| IDHQ Invesco S&P International DE | Reduce -98.6% | 0.03% | −2.41 |
| GRPM Invesco S&P Midcap 400 Garp | Reduce -100.0% | 0.00% | −2.22 |
| JHML John Hancock Multi Fact LRG | Reduce -99.2% | 0.01% | −1.71 |
| AIRR First Trust Rba American Ind | Reduce -36.9% | 2.34% | −1.51 |
| FYC First Trust Small Cap Growth | Reduce -46.5% | 1.52% | −1.39 |
| FV First Trust DW Focus 5 Fund | Reduce -39.9% | 1.89% | −1.28 |
| MFUS PIMCO Rafi Dynamic Multi-Fac | Reduce -27.2% | 2.45% | −0.74 |
| SOXQ Invesco PHLX Semiconductor | Reduce -12.5% | 2.32% | −0.73 |
| FTXN First Trust Nasdaq Oil & Gas | Reduce -84.7% | 0.10% | −0.51 |
| XHB SS SPDR S&P Homebldrs ETF | Reduce -98.5% | 0.01% | −0.49 |
| PPA Invesco Aerospace & Defense | Reduce -77.4% | 0.14% | −0.44 |
| AAPL Apple Inc. | Reduce -14.7% | 2.46% | −0.41 |
| NVDA Nvidia Corp. | Reduce -8.1% | 1.74% | −0.27 |
| FPEI First Trust Institutional PR | Reduce -13.4% | 1.83% | −0.21 |
| BNDX Vanguard Total Intl Bond ETF | Sold out | 0.00% | −0.17 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -50.3% | 0.16% | −0.15 |
| WMT Walmart Inc. | Reduce -20.2% | 1.42% | −0.13 |
| PANW Palo Alto Networks Inc. | Reduce -30.3% | 0.06% | −0.11 |
| LMT Lockheed Martin Corp. | Reduce -11.2% | 0.28% | −0.11 |
| FTCS First Trust Capital Strength | Reduce -10.2% | 1.46% | −0.10 |
| XSMO Invesco S&P Smallcap Momentu | Reduce -6.9% | 1.22% | −0.09 |
| QQEW First TR Nasdaq-100 Sel Eq | Reduce -8.2% | 1.19% | −0.09 |
| NUMV Nuveen ESG Mid-Cap Value ETF | Reduce -50.1% | 0.05% | −0.05 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.04 |
| LMBS First Trust Low Duration Opp | Reduce -46.6% | 0.04% | −0.03 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -12.5% | 0.18% | −0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -17.7% | 0.10% | −0.02 |
| T AT&T Inc. | Sold out | 0.00% | −0.02 |
| VEA Vanguard Ftse Developed ETF | Reduce -14.8% | 0.10% | −0.02 |
| IVOG Vanguard S&P Mid-Cap 400 Gro | Sold out | 0.00% | −0.02 |
| ARKK ARK Innovation ETF | Reduce -18.4% | 0.08% | −0.01 |
| UPS United Parcel Service Class B | Reduce -3.6% | 0.06% | −0.01 |
| COP Conocophillips | Reduce -56.0% | 0.01% | −0.01 |
| UNH Unitedhealth Group Inc. | Reduce -41.2% | 0.01% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -5.4% | 0.02% | −0.01 |
| FTRI First Trust Indxx Global Nat | Reduce -54.1% | 0.00% | −0.01 |
| DIVO Amplify CWP Enhan Divid ETF | Reduce -13.2% | 0.05% | −0.00 |
| XLE SS Energy Select Sector | Reduce -13.9% | 0.09% | −0.00 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.6% | 0.10% | −0.00 |
| SBUX Starbucks Corp. | Reduce -12.6% | 0.02% | −0.00 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -1.8% | 0.05% | −0.00 |
| MCD McDonald's Corp. | Reduce -12.5% | 0.02% | −0.00 |
| OXY Occidental Petroleum Corp. | Reduce -1.6% | 0.16% | −0.00 |
| NUMG Nuveen ESG Mid-Cap Grow ETF | Reduce -0.9% | 0.05% | 0.00 |
| JHMM John Hancock Multi Fact Mid | Reduce -0.2% | 0.10% | +0.00 |
| V Visa Inc. Class A | Reduce -5.2% | 0.15% | +0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| GLD SPDR Gold Shares | Add +3796.2% | 6.37% | +6.24 |
| FVD First Trust Value Line DVD | Add +169.1% | 4.37% | +2.80 |
| NOBL Proshares S&P 500 Dividend A | Add +3090.2% | 2.77% | +2.68 |
| USMC Principal US Mega-Cap ETF | New | 2.39% | +2.39 |
| CGCV Cap Group Conservative Eq | New | 2.38% | +2.38 |
| CGDV Cap Group Dividend Value | New | 2.36% | +2.36 |
| RDVY First Trust Rising Dividend | Add +18.6% | 4.92% | +0.94 |
| NLR Vaneck Urani & Nuclr ETF-Usd | New | 0.89% | +0.89 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +18.1% | 4.29% | +0.75 |
| FDL First Trust Morn DVD Lead Inc. | Add +65.1% | 1.56% | +0.69 |
| XES SS SPDR S&P Og Eqp & Serv | New | 0.67% | +0.67 |
| EIPX FT Energy Inc. Partners Strat | New | 0.65% | +0.65 |
| PXJ Invesco Oil & Gas Services E | New | 0.65% | +0.65 |
| CIBR First Trust Nasdaq Cybersecu | Add +2854.4% | 0.47% | +0.46 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +0.9% | 1.61% | +0.41 |
| AMZN Amazon.com Inc. | Add +5.3% | 3.06% | +0.36 |
| DUK Duke Energy Corp. | Add +3.2% | 1.62% | +0.21 |
| JGRO JPMorgan Active Growth ETF | New | 0.19% | +0.19 |
| SCHG Schwab US Large-Cap Growth | Add +3437.7% | 0.21% | +0.19 |
| VZ Verizon Communications Inc. | Add +6.6% | 1.52% | +0.18 |
| VCRB Vanguard Core Bond ETF | Add +253.7% | 0.19% | +0.14 |
| HYXF iShares ESG Adv High Yield | New | 0.14% | +0.14 |
| JNJ Johnson & Johnson | Add +8.7% | 0.91% | +0.13 |
| NUDM Nuveen ESG Intl Devel MRK Eq | New | 0.10% | +0.10 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +157.6% | 0.14% | +0.09 |
| AMGN Amgen Inc. | Add +4.6% | 1.20% | +0.07 |
| DGRO iShares Core Dividend Growth | New | 0.07% | +0.07 |
| GOOG Alphabet Inc. Class C | Add +6.0% | 1.57% | +0.07 |
| ESML iShares ESG Aware MSCI USA S | New | 0.07% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | New | 0.05% | +0.05 |
| VOOV Vanguard S&P 500 Value ETF | Add +15.1% | 0.31% | +0.05 |
| LLY Eli Lilly & Co. | Add +4.3% | 1.74% | +0.04 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +3.0% | 0.69% | +0.04 |
| PM Philip Morris International | Add +2.9% | 0.11% | +0.03 |
| EMLP First Trust North American E | Add +1.3% | 0.19% | +0.03 |
| RDVI FT Vest Rising Dividend Achi | Add +11.0% | 0.25% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +0.8% | 0.79% | +0.03 |
| FTHI Fthi/First Trust Exchange-TR | Add +11.6% | 0.23% | +0.02 |
| FMDE Fidelity Enhanced Mid Cap Co. | New | 0.02% | +0.02 |
| SCHV Schwab US Large-Cap Value | New | 0.02% | +0.02 |
| WY Weyerhaeuser Co. | New | 0.02% | +0.02 |
| FIW First Trust Water ETF | Add +7.8% | 0.48% | +0.02 |
| RTX RTX Corp. | Add +5.2% | 0.12% | +0.02 |
| MDY State Street SPDR S&P Midcap | New | 0.02% | +0.02 |
| FTQI First Trust Nasdaq Buywrite | Add +11.8% | 0.22% | +0.02 |
| NNE Nano Nuclear Energy Inc. | New | 0.02% | +0.02 |
| RBLX Roblox Corp. Class A | New | 0.01% | +0.01 |
| CSCO Cisco Systems Inc. | Add +1.4% | 0.07% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +1.1% | 0.10% | +0.01 |
| BA The Boeing Co. | New | 0.01% | +0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| DAL Delta Air Lines Inc. | COM NEW | New | 0 | $0 |
| EMB iShares JP Morgan Usd Emergi | JPMORGAN USD EMG | New | 0 | $0 |
| MUB iShares National Muni Bond E | NATIONAL MUN ETF | New | 0 | $0 |
| MAR Marriott International Class A | CL A | New | 0 | $0 |
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 | 497 | $240.8M | GLD, MFUS, XMHQ, BRK.B, MSFT |
| Q1 2026 | 274 | $208.5M | GLD, MFUS, RPV, BRK.B, MSFT |
| Q4 2025 | 76 | $199.1M | GLD, BRK.B, MSFT, FMDE, MFUS |
| Q3 2025 | 75 | $188.9M | GLD, FFLG, MSFT, CGGR, MFUS |
| Q2 2025 | 27 | $21.0M | FV, MSFT, ARKW, FVD, SPY |
| Q1 2025 | 248 | $161.0M | GLD, BRK.B, RDVY, FVD, SPY |
| Q4 2024 | 135 | $169.7M | SPYV, BRK.B, MSFT, RDVY, AIRR |