MBB Public Markets I LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 16, 2025), MBB Public Markets I LLC reported 523 stock positions worth $867.8 million. Its top holding was Progressive (PGR) at 11.4% of the portfolio, followed by Aercap (AER, 6.1%) and SS SPDR P S&P 400 Midcap ETF (SPMD, 5.6%). Compared with Q4 2024, it opened 476 new positions, sold out of 11, added to 12 and reduced 22. The biggest buy was a new position in Aercap (AER) and the biggest sale Teck Resources Ltd.-CLS B (TECK, shares −58%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001892378
- Portfolio Value
- $867.8M (Q1 2025)
- SEC Filing
- 0001214659-25-007923 ↗ filed May 16, 2025
Holdings Value
Holdings 523 stocks · $867.8M
| PGR Progressive Corp. | 11.42% | 350,076 | $99.1M | Add +45.4% |
| AER Aercap Holdings NV | 6.08% | 516,726 | $52.8M | New |
| SPMD SS SPDR P S&P 400 Midcap ETF | 5.56% | 942,381 | $48.2M | Add +77.0% |
| UNH Unitedhealth Group Inc. | 4.29% | 71,033 | $37.2M | Add +7.5% |
| AMZN Amazon.com Inc. | 4.15% | 189,478 | $36.1M | Add +80.7% |
| EQT Eqt Corp. | 4.11% | 667,726 | $35.7M | Reduce -16.1% |
| VEA Vanguard Ftse Developed ETF | 3.88% | 662,117 | $33.7M | New |
| BG Bunge Global SA | 3.80% | 431,587 | $33.0M | Reduce -9.9% |
| CTRA Coterra Energy Inc. | 3.47% | 1,042,593 | $30.1M | Reduce -46.9% |
| SPSM SS SPDR P S&P 600 Small Cap | 3.15% | 669,768 | $27.3M | Add +0.0% |
| TECK Teck Resources Ltd.-CLS B | 3.11% | 741,153 | $27.0M | Reduce -57.6% |
| EWJ iShares MSCI Japan ETF | 3.04% | 384,482 | $26.4M | Add +34.7% |
| GOOGL Alphabet Inc. Class A | 2.82% | 158,158 | $24.5M | Add +40.9% |
| AMGN Amgen Inc. | 2.51% | 70,017 | $21.8M | Reduce -23.6% |
| CCJ Cameco Corp. | 2.47% | 519,865 | $21.4M | Reduce -28.1% |
| FCX Freeport-McMoran Inc. | 2.45% | 561,450 | $21.3M | Reduce -29.7% |
| MSFT Microsoft Corp. | 2.30% | 53,090 | $19.9M | Add +649.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.97% | 408,473 | $17.1M | Add +42.9% |
| AVGO Broadcom Inc. | 1.93% | 100,149 | $16.8M | Add +2.3% |
| META Meta Platforms Inc. Class A | 1.90% | 28,540 | $16.4M | Add +1.9% |
| ASML ASML Holding NV-NY Reg SHS | 1.43% | 18,675 | $12.4M | No change |
| INDA iShares MSCI India ETF | 1.39% | 233,724 | $12.0M | Reduce -33.9% |
| RSP Invesco S&P 500 Equal Weight | 1.22% | 61,346 | $10.6M | Reduce -57.2% |
| DFIV Dimensional International Va | 1.09% | 240,000 | $9.4M | No change |
| VST Vistra Corp. | 0.84% | 62,317 | $7.3M | Add +68.9% |
| DFAT Dimensional US Target Value | 0.78% | 132,267 | $6.8M | Reduce -82.9% |
| HBM Hudbay Minerals Inc. | 0.54% | 621,794 | $4.7M | Reduce -73.6% |
| EWZ iShares MSCI Brazil ETF | 0.27% | 91,034 | $2.4M | Reduce -90.6% |
| KYTX Kyverna Therapeutics Inc. | 0.14% | 614,477 | $1.2M | No change |
| ETN Eaton Corp. PLC | 0.11% | 3,560 | $968K | New |
| TKO Tko Group Holdings Inc. | 0.07% | 4,246 | $649K | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.04% | 720 | $383K | New |
| HCI Hci Group Inc. | 0.04% | 2,550 | $381K | No change |
| MDLZ Mondelez International Inc. Class A | 0.04% | 5,246 | $356K | New |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.04% | 4,984 | $355K | New |
| MRSH Marsh & McLennan Cos | 0.04% | 1,440 | $351K | New |
| PAYX Paychex Inc. | 0.04% | 2,270 | $350K | New |
| TSLA Tesla Inc. | 0.04% | 1,349 | $350K | New |
| DLTR Dollar Tree Inc. | 0.04% | 4,635 | $348K | New |
| MAA Mid-America Apartment Comm | 0.04% | 2,070 | $347K | New |
| KR Kroger Co. | 0.04% | 5,117 | $346K | New |
| NOC Northrop Grumman Corp. | 0.04% | 673 | $345K | New |
| O Realty Income Corp. | 0.04% | 5,940 | $345K | New |
| TSN Tyson Foods Inc. Class A | 0.04% | 5,400 | $345K | New |
| KMX Carmax Inc. | 0.04% | 4,410 | $344K | New |
| COP Conocophillips | 0.04% | 3,268 | $343K | New |
| CHD Church & Dwight Co. Inc. | 0.04% | 3,108 | $342K | New |
| KVUE Kenvue Inc. | 0.04% | 14,209 | $341K | New |
| GILD Gilead Sciences Inc. | 0.04% | 3,037 | $340K | New |
| ROP Roper Technologies Inc. | 0.04% | 577 | $340K | New |
| BR Broadridge Financial Solutio | 0.04% | 1,401 | $340K | New |
| CBOE Cboe Global Markets Inc. | 0.04% | 1,501 | $340K | New |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.04% | 2,868 | $340K | New |
| ORLY O'reilly Automotive Inc. | 0.04% | 237 | $340K | New |
| AZO AutoZone Inc. | 0.04% | 89 | $339K | New |
| OXY Occidental Petroleum Corp. | 0.04% | 6,874 | $339K | New |
| SO The Southern Co. | 0.04% | 3,690 | $339K | New |
| CBRE CBRE Group Inc. Class A | 0.04% | 2,590 | $339K | New |
| ACGL Arch Capital Group Ltd. | 0.04% | 3,520 | $339K | New |
| HIG Hartford Insurance Group Inc. | 0.04% | 2,730 | $338K | New |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.04% | 10,350 | $338K | Reduce -98.6% |
| LYV Live Nation Entertainment Inc. | 0.04% | 2,583 | $337K | New |
| PNW Pinnacle West Capital | 0.04% | 3,540 | $337K | New |
| DG Dollar General Corp. | 0.04% | 3,834 | $337K | New |
| CSCO Cisco Systems Inc. | 0.04% | 5,459 | $337K | New |
| ULTA Ulta Beauty Inc. | 0.04% | 919 | $337K | New |
| LNT Alliant Energy Corp. | 0.04% | 5,232 | $337K | New |
| HAS Hasbro Inc. | 0.04% | 5,467 | $336K | New |
| T AT&T Inc. | 0.04% | 11,879 | $336K | New |
| CMS CMS Energy Corp. | 0.04% | 4,467 | $336K | New |
| MCO Moody's Corp. | 0.04% | 720 | $335K | New |
| KO The Coca-Cola Co. | 0.04% | 4,680 | $335K | New |
| VZ Verizon Communications Inc. | 0.04% | 7,380 | $335K | New |
| CPB The Campbell's Company | 0.04% | 8,375 | $334K | New |
| SYK Stryker Corp. | 0.04% | 898 | $334K | New |
| UHS Universal Health Services-B | 0.04% | 1,776 | $334K | New |
| CPRT Copart Inc. | 0.04% | 5,894 | $334K | New |
| WM Waste Management Inc. | 0.04% | 1,440 | $333K | New |
| FFIV F5 Inc. | 0.04% | 1,252 | $333K | New |
| VRSN Verisign Inc. | 0.04% | 1,313 | $333K | New |
| COR Cencora Inc. | 0.04% | 1,198 | $333K | New |
| COST Costco Wholesale Corp. | 0.04% | 352 | $333K | New |
| AWK American Water Works Co. Inc. | 0.04% | 2,255 | $333K | New |
| SYY Sysco Corp. | 0.04% | 4,430 | $332K | New |
| ABT Abbott Laboratories | 0.04% | 2,504 | $332K | New |
| KDP Keurig Dr Pepper Inc. | 0.04% | 9,702 | $332K | New |
| PM Philip Morris International | 0.04% | 2,091 | $332K | New |
| PAYC Paycom Software Inc. | 0.04% | 1,519 | $332K | New |
| HRL Hormel Foods Corp. | 0.04% | 10,723 | $332K | New |
| GRMN Garmin Ltd. | 0.04% | 1,526 | $331K | New |
| ESS Essex Property Trust Inc. | 0.04% | 1,080 | $331K | New |
| ROL Rollins Inc. | 0.04% | 6,128 | $331K | New |
| WAT Waters Corp. | 0.04% | 898 | $331K | New |
| GD General Dynamics Corp. | 0.04% | 1,214 | $331K | New |
| CHRW C.H. Robinson Worldwide Inc. | 0.04% | 3,231 | $331K | New |
| COO The Cooper Cos Inc. | 0.04% | 3,920 | $331K | New |
| CAH Cardinal Health Inc. | 0.04% | 2,400 | $331K | New |
| EXC Exelon Corp. | 0.04% | 7,172 | $330K | New |
| L Loews Corp. | 0.04% | 3,595 | $330K | New |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.04% | 957 | $330K | New |
Options reported separately and not counted above: EWZ calls ($14.2M), AVGO calls ($8.4M), GOOGL calls ($7.7M), FSLR calls ($5.7M), AMGN calls ($2.0M), TECK calls ($404K), ASML calls ($331K), BX puts ($112K).
Portfolio Sells Q4 2024 → Q1 2025
| TECK Teck Resources Ltd.-CLS B | Reduce -57.6% | 3.11% | −5.29 |
| DFAT Dimensional US Target Value | Reduce -82.9% | 0.78% | −4.32 |
| VICI Vici Properties Inc. | Reduce -98.6% | 0.04% | −2.60 |
| CTRA Coterra Energy Inc. | Reduce -46.9% | 3.47% | −2.47 |
| EWZ iShares MSCI Brazil ETF | Reduce -90.6% | 0.27% | −2.31 |
| MU Micron Technology Inc. | Reduce -98.6% | 0.03% | −2.15 |
| CCJ Cameco Corp. | Reduce -28.1% | 2.47% | −1.93 |
| RSP Invesco S&P 500 Equal Weight | Reduce -57.2% | 1.22% | −1.75 |
| HBM Hudbay Minerals Inc. | Reduce -73.6% | 0.54% | −1.71 |
| IBN Icici Bank Ltd.-Spon ADR | Sold out | 0.00% | −1.65 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −1.28 |
| CEG Constellation Energy | Reduce -97.2% | 0.03% | −1.27 |
| FCX Freeport-McMoran Inc. | Reduce -29.7% | 2.45% | −1.15 |
| FSLR First Solar Inc. | Reduce -94.4% | 0.04% | −0.87 |
| DIS The Walt Disney Co. | Reduce -95.3% | 0.04% | −0.86 |
| INDA iShares MSCI India ETF | Reduce -33.9% | 1.39% | −0.82 |
| SCJ iShares MSCI Japan Small-Cap | Sold out | 0.00% | −0.70 |
| PWR Quanta Services Inc. | Reduce -93.5% | 0.03% | −0.64 |
| JPM JPMorgan Chase & Co. | Reduce -94.2% | 0.04% | −0.62 |
| EWY iShares MSCI South Korea ETF | Sold out | 0.00% | −0.62 |
| BG Bunge Global SA | Reduce -9.9% | 3.80% | −0.61 |
| ARE Alexandria Real Estate Equit | Reduce -93.9% | 0.03% | −0.57 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −0.42 |
| AMGN Amgen Inc. | Reduce -23.6% | 2.51% | −0.32 |
| PRIM Primoris Services Corp. | Sold out | 0.00% | −0.26 |
| GEV GE Vernova Inc. | Reduce -86.4% | 0.03% | −0.24 |
| EQT Eqt Corp. | Reduce -16.1% | 4.11% | −0.24 |
| AMD Advanced Micro Devices | Reduce -82.3% | 0.03% | −0.20 |
| BAK Braskem SA Class A- ADR | Sold out | 0.00% | −0.16 |
| EWZS iShares MSCI Brazil Small-Ca | Sold out | 0.00% | −0.15 |
| FTDR Frontdoor Inc. | Sold out | 0.00% | −0.03 |
| ICUI Icu Medical Inc. | Sold out | 0.00% | −0.02 |
| VICR Vicor Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| AER Aercap Holdings NV | New | 6.08% | +6.08 |
| PGR Progressive Corp. | Add +45.4% | 11.42% | +4.58 |
| VEA Vanguard Ftse Developed ETF | New | 3.88% | +3.88 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +77.0% | 5.56% | +2.11 |
| MSFT Microsoft Corp. | Add +649.2% | 2.30% | +1.94 |
| AMZN Amazon.com Inc. | Add +80.7% | 4.15% | +1.43 |
| EWJ iShares MSCI Japan ETF | Add +34.7% | 3.04% | +0.77 |
| SLB SLB Ltd. | Add +42.9% | 1.97% | +0.67 |
| UNH Unitedhealth Group Inc. | Add +7.5% | 4.29% | +0.33 |
| GOOGL Alphabet Inc. Class A | Add +40.9% | 2.82% | +0.30 |
| VST Vistra Corp. | Add +68.9% | 0.84% | +0.24 |
| ETN Eaton Corp. PLC | New | 0.11% | +0.11 |
| TKO Tko Group Holdings Inc. | New | 0.07% | +0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.04% | +0.04 |
| MDLZ Mondelez International Inc. Class A | New | 0.04% | +0.04 |
| WRB WR Berkley Corp. | New | 0.04% | +0.04 |
| MRSH Marsh & McLennan Cos | New | 0.04% | +0.04 |
| PAYX Paychex Inc. | New | 0.04% | +0.04 |
| TSLA Tesla Inc. | New | 0.04% | +0.04 |
| DLTR Dollar Tree Inc. | New | 0.04% | +0.04 |
| MAA Mid-America Apartment Comm | New | 0.04% | +0.04 |
| KR Kroger Co. | New | 0.04% | +0.04 |
| NOC Northrop Grumman Corp. | New | 0.04% | +0.04 |
| O Realty Income Corp. | New | 0.04% | +0.04 |
| TSN Tyson Foods Inc. Class A | New | 0.04% | +0.04 |
| KMX Carmax Inc. | New | 0.04% | +0.04 |
| COP Conocophillips | New | 0.04% | +0.04 |
| CHD Church & Dwight Co. Inc. | New | 0.04% | +0.04 |
| KVUE Kenvue Inc. | New | 0.04% | +0.04 |
| GILD Gilead Sciences Inc. | New | 0.04% | +0.04 |
| ROP Roper Technologies Inc. | New | 0.04% | +0.04 |
| AZO AutoZone Inc. | New | 0.04% | +0.04 |
| BR Broadridge Financial Solutio | New | 0.04% | +0.04 |
| CBOE Cboe Global Markets Inc. | New | 0.04% | +0.04 |
| ORLY O'reilly Automotive Inc. | New | 0.04% | +0.04 |
| OXY Occidental Petroleum Corp. | New | 0.04% | +0.04 |
| SJM The JM Smucker Co. | New | 0.04% | +0.04 |
| SO The Southern Co. | New | 0.04% | +0.04 |
| CBRE CBRE Group Inc. Class A | New | 0.04% | +0.04 |
| ACGL Arch Capital Group Ltd. | New | 0.04% | +0.04 |
| HIG Hartford Insurance Group Inc. | New | 0.04% | +0.04 |
| LYV Live Nation Entertainment Inc. | New | 0.04% | +0.04 |
| PNW Pinnacle West Capital | New | 0.04% | +0.04 |
| LNT Alliant Energy Corp. | New | 0.04% | +0.04 |
| CSCO Cisco Systems Inc. | New | 0.04% | +0.04 |
| DG Dollar General Corp. | New | 0.04% | +0.04 |
| ULTA Ulta Beauty Inc. | New | 0.04% | +0.04 |
| T AT&T Inc. | New | 0.04% | +0.04 |
| CMS CMS Energy Corp. | New | 0.04% | +0.04 |
| HAS Hasbro Inc. | New | 0.04% | +0.04 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | call | Sold out | 155,000 | $90.8Mbefore exit |
| UNH Unitedhealth Group Inc. | call | Sold out | 39,000 | $19.7Mbefore exit |
| EWZ iShares MSCI Brazil ETF | call | Reduce -32.5% | 549,300 | $14.2M |
| RSP Invesco S&P 500 Equal Weight | call | Sold out | 72,100 | $12.6Mbefore exit |
| MU Micron Technology Inc. | call | Sold out | 125,800 | $10.6Mbefore exit |
| FCX Freeport-McMoran Inc. | call | Sold out | 253,300 | $9.6Mbefore exit |
| AVGO Broadcom Inc. | call | Reduce -17.5% | 50,000 | $8.4M |
| GOOGL Alphabet Inc. Class A | call | Reduce -50.0% | 50,000 | $7.7M |
| AMZN Amazon.com Inc. | call | Sold out | 30,100 | $6.6Mbefore exit |
| FSLR First Solar Inc. | call | Add +113.3% | 45,000 | $5.7M |
| CCJ Cameco Corp. | call | Sold out | 78,300 | $4.0Mbefore exit |
| CTRA Coterra Energy Inc. | call | Sold out | 81,300 | $2.1Mbefore exit |
| AMGN Amgen Inc. | call | Reduce -60.6% | 6,500 | $2.0M |
| ASHR Xtrackers Harvest Csi 300 CH | call | Sold out | 60,000 | $1.6Mbefore exit |
| BG Bunge Global SA | call | Sold out | 20,000 | $1.6Mbefore exit |
| SLB SLB Ltd. | call | Sold out | 40,000 | $1.5Mbefore exit |
| KWEB Kranesh Csi China Internet | call | Sold out | 40,000 | $1.2Mbefore exit |
| AMD Advanced Micro Devices | call | Sold out | 8,400 | $1.0Mbefore exit |
| DLTR Dollar Tree Inc. | call | Sold out | 13,300 | $997Kbefore exit |
| FXI iShares China Large-Cap ETF | call | Sold out | 30,000 | $913Kbefore exit |
| TECK Teck Resources Ltd.-CLS B | call | Reduce -90.4% | 11,100 | $404K |
| TSLA Tesla Inc. | put | Sold out | 1,000 | $404Kbefore exit |
| INTC Intel Corp. | call | Sold out | 20,000 | $401Kbefore exit |
| ASML ASML Holding NV-NY Reg SHS | call | Reduce -80.0% | 500 | $331K |
| BX Blackstone Inc. | put | Reduce -92.6% | 800 | $112K |
| EWY iShares MSCI South Korea ETF | call | Sold out | 200 | $10Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $925.7M | PGR, AER, AMZN, FERG, MDLN |
| Q1 2026 | 24 | $835.2M | PGR, AER, AMZN, FERG, MDLN |
| Q4 2025 | 27 | $957.2M | PGR, AER, AMZN, FERG, MDLN |
| Q3 2025 | 36 | $750.7M | PGR, AER, AMZN, FERG, VEA |
| Q2 2025 | 497 | $868.8M | PGR, AER, FERG, AMZN, VEA |
| Q1 2025Amended | 523 | $867.8M | PGR, AER, SPMD, UNH, AMZN |
| Q4 2024 | 58 | $843.9M | TECK, PGR, CTRA, DFAT, BG |
| Q3 2024 | 534 | $1.2B | TECK, SPSM, CCJ, CTRA, BG |
| Q2 2024 | 671 | $4.8B | MSFT, AAPL, NVDA, RSP, AMZN |
| Q1 2024 | 268 | $1.6B | RSP, TECK, XLV, BG, EWZ |