Marvin & Palmer Associates Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Marvin & Palmer Associates Inc. reported 27 stock positions worth $141.6 million. Its top holding was Nvidia (NVDA) at 7.4% of the portfolio, followed by Citigroup (C, 6.9%) and Goldman Sachs (GS, 6.7%). Compared with Q3 2025, it opened 9 new positions, sold out of 9, added to 4 and reduced 14. The biggest buy was a new position in iShares Biotechnology ETF (IBB) and the biggest sale an exit from Interactive Brokers Gro Class A (IBKR).
- Most Recent 13F
- Q2 2026
- Location
- WILMINGTON, DE
- CIK
- 0000860645
- Portfolio Value
- $141.6M (Q4 2025)
- SEC Filing
- 0002080880-26-000006 ↗ filed Feb 11, 2026
Holdings Value
Holdings 27 stocks · $141.6M
| NVDA Nvidia Corp. | 7.37% | 55,930 | $10.4M | Reduce -4.0% |
| C Citigroup Inc. | 6.92% | 83,966 | $9.8M | Add +10.1% |
| GS Goldman Sachs Group Inc. | 6.75% | 10,868 | $9.6M | Reduce -2.8% |
| AVGO Broadcom Inc. | 6.45% | 26,376 | $9.1M | Reduce -19.6% |
| MS Morgan Stanley | 6.37% | 50,818 | $9.0M | Reduce -3.4% |
| GOOGL Alphabet Inc. Class A | 6.09% | 27,527 | $8.6M | Add +23.9% |
| IBB iShares Biotechnology ETF | 5.03% | 42,219 | $7.1M | New |
| NEM Newmont Corp. | 4.82% | 68,328 | $6.8M | Reduce -5.0% |
| XLV SS Health Care Select Sector | 4.77% | 43,630 | $6.8M | New |
| RTX RTX Corp. | 4.66% | 35,989 | $6.6M | Reduce -0.3% |
| AAPL Apple Inc. | 4.62% | 24,048 | $6.5M | New |
| IJR iShares Core S&P Small-Cap E | 3.01% | 35,470 | $4.3M | New |
| JPM JPMorgan Chase & Co. | 2.75% | 12,070 | $3.9M | Reduce -54.5% |
| TSM Taiwan Semiconductor-SP ADR | 2.71% | 12,605 | $3.8M | Add +1437.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.69% | 69,206 | $3.8M | Add +6.5% |
| CAT Caterpillar Inc. | 2.62% | 6,485 | $3.7M | Reduce -7.8% |
| APH Amphenol Corp. Class A | 2.59% | 27,100 | $3.7M | Reduce -7.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.53% | 23,338 | $3.6M | New |
| PH Parker Hannifin Corp. | 2.44% | 3,938 | $3.5M | Reduce -0.5% |
| CCJ Cameco Corp. | 2.43% | 37,673 | $3.4M | Reduce -0.6% |
| COR Cencora Inc. | 2.41% | 10,092 | $3.4M | Reduce -0.1% |
| XBI SS SPDR S&P Biotech ETF | 2.32% | 26,940 | $3.3M | New |
| AMZN Amazon.com Inc. | 2.27% | 13,946 | $3.2M | New |
| TSLA Tesla Inc. | 1.60% | 5,051 | $2.3M | Reduce -0.7% |
| ILF iShares Latin America 40 ETF | 1.49% | 69,050 | $2.1M | New |
| EWJ iShares MSCI Japan ETF | 1.48% | 26,000 | $2.1M | Reduce -7.8% |
| ECH iShares MSCI Chile ETF | 0.81% | 28,220 | $1.1M | New |
Portfolio Sells Q3 2025 → Q4 2025
| IBKR Interactive Brokers Gro Class A | Sold out | 0.00% | −6.13 |
| ORCL Oracle Corp. | Sold out | 0.00% | −5.91 |
| JPM JPMorgan Chase & Co. | Reduce -54.5% | 2.75% | −3.38 |
| MU Micron Technology Inc. | Sold out | 0.00% | −3.03 |
| WELL Welltower Inc. | Sold out | 0.00% | −2.65 |
| AVGO Broadcom Inc. | Reduce -19.6% | 6.45% | −2.56 |
| EPOL iShares MSCI Poland ETF | Sold out | 0.00% | −2.00 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −1.90 |
| EIS iShares MSCI Israel ETF | Sold out | 0.00% | −1.78 |
| NVDA Nvidia Corp. | Reduce -4.0% | 7.37% | −1.40 |
| APH Amphenol Corp. Class A | Reduce -7.5% | 2.59% | −0.45 |
| CCJ Cameco Corp. | Reduce -0.6% | 2.43% | −0.44 |
| CAT Caterpillar Inc. | Reduce -7.8% | 2.62% | −0.39 |
| EWJ iShares MSCI Japan ETF | Reduce -7.8% | 1.48% | −0.27 |
| EWP iShares MSCI Spain ETF | Sold out | 0.00% | −0.16 |
| COR Cencora Inc. | Reduce -0.1% | 2.41% | −0.13 |
| RTX RTX Corp. | Reduce -0.3% | 4.66% | −0.13 |
| TSLA Tesla Inc. | Reduce -0.7% | 1.60% | −0.12 |
| VNM Vaneck Vietnam ETF | Sold out | 0.00% | −0.10 |
| MS Morgan Stanley | Reduce -3.4% | 6.37% | −0.04 |
| PH Parker Hannifin Corp. | Reduce -0.5% | 2.44% | +0.17 |
| GS Goldman Sachs Group Inc. | Reduce -2.8% | 6.75% | +0.19 |
| NEM Newmont Corp. | Reduce -5.0% | 4.82% | +0.49 |
Portfolio Buys Q3 2025 → Q4 2025
| IBB iShares Biotechnology ETF | New | 5.03% | +5.03 |
| XLV SS Health Care Select Sector | New | 4.77% | +4.77 |
| AAPL Apple Inc. | New | 4.62% | +4.62 |
| IJR iShares Core S&P Small-Cap E | New | 3.01% | +3.01 |
| TJX TJX Companies Inc. | New | 2.53% | +2.53 |
| TSM Taiwan Semiconductor-SP ADR | Add +1437.2% | 2.71% | +2.52 |
| XBI SS SPDR S&P Biotech ETF | New | 2.32% | +2.32 |
| AMZN Amazon.com Inc. | New | 2.27% | +2.27 |
| ILF iShares Latin America 40 ETF | New | 1.49% | +1.49 |
| GOOGL Alphabet Inc. Class A | Add +23.9% | 6.09% | +1.44 |
| C Citigroup Inc. | Add +10.1% | 6.92% | +1.18 |
| ECH iShares MSCI Chile ETF | New | 0.81% | +0.81 |
| BAC Bank of America Corp. | Add +6.5% | 2.69% | +0.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $159.0M | SOXX, NVDA, C, GS, MS |
| Q1 2026 | 21 | $83.5M | NVDA, RTX, VLO, XBI, TSM |
| Q4 2025 | 27 | $141.6M | NVDA, C, GS, AVGO, MS |
| Q3 2025 | 27 | $134.6M | AVGO, NVDA, GS, MS, IBKR |
| Q2 2025 | 32 | $116.6M | QQQ, ORCL, CSCO, NVDA, IBM |
| Q1 2025 | 23 | $67.0M | ORLY, CAH, CSCO, PH, TMUS |
| Q4 2024 | 27 | $130.9M | AMZN, GS, AMP, KKR, IBKR |
| Q3 2024 | 32 | $119.2M | KKR, XBI, GS, IBKR, SPY |
| Q2 2024 | 28 | $102.7M | ETN, NVDA, IBKR, PH, AMAT |
| Q1 2024 | 28 | $100.8M | ETN, NVDA, PH, MSFT, IR |