National Philanthropic Trust

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed May 15, 2026), National Philanthropic Trust reported 282 stock positions worth $7.5 billion. Its top holding was Nvidia (NVDA) at 20.5% of the portfolio, followed by Apollo Global Management (APO, 16.0%) and iShares Core S&P 500 ETF (IVV, 10.4%). Compared with Q1 2025, it opened 31 new positions, sold out of 14, added to 68 and reduced 66. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +185%) and the biggest sale Blackstone (BX, shares −13%).

Most Recent 13F
Q2 2026
Location
Jenkintown, PA
CIK
0001785342
Portfolio Value
$7.5B (Q2 2025)
SEC Filing
0001193805-26-000632 ↗ filed May 15, 2026

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $4.6B Q1 2024 Q2 2024: $5.2B Q2 2024 Q3 2024: $5.5B Q3 2024 Q4 2024: $6.9B Q4 2024 Q1 2025: $6.2B Q1 2025 Q2 2025: $7.5B $7.5B Q2 2025 Q3 2025: $8.9B Q3 2025 Q4 2025: $10.1B Q4 2025 Q1 2026: $9.4B Q1 2026 Q2 2026: $6.9B Q2 2026

Holdings 282 stocks · $7.5B
NVDA Nvidia Corp. 20.52% 9,698,027 $1.5B Reduce -17.8%
APO Apollo Global Management Inc. 16.01% 8,424,838 $1.2B No change
IVV iShares Core S&P 500 ETF 10.37% 1,247,572 $774.6M Add +0.4%
GOOGL Alphabet Inc. Class A 5.80% 2,459,406 $433.4M Add +29.9%
AVGO Broadcom Inc. 5.29% 1,433,659 $395.2M Add +6.7%
VOO Vanguard S&P 500 ETF 3.58% 470,846 $267.5M Add +185.4%
BX Blackstone Inc. 3.23% 1,610,974 $241.0M Reduce -12.7%
CVNA Carvana Co. 2.95% 652,740 $219.9M Reduce -0.9%
GOOG Alphabet Inc. Class C 2.01% 844,326 $149.8M Reduce -16.2%
AMZN Amazon.com Inc. 1.81% 615,424 $135.0M Add +74.6%
IEFA iShares Core MSCI Eafe ETF 1.70% 1,522,617 $127.1M Add +4.3%
SPY SS SPDR S&P 500 ETF Trust-US 1.39% 167,485 $103.5M Reduce -12.3%
AGG iShares Core U.S. Aggregate 1.25% 939,288 $93.2M Add +8.1%
MSFT Microsoft Corp. 1.17% 175,386 $87.2M Add +327.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.13% 302,750 $84.7M Add +3.1%
RBLX Roblox Corp. Class A 0.97% 686,049 $72.2M No change
TSM Taiwan Semiconductor-SP ADR 0.85% 281,807 $63.8M Add +11.5%
ABNB Airbnb Inc. Class A 0.83% 469,815 $62.2M Reduce -0.1%
IWM iShares Russell 2000 ETF 0.83% 287,655 $62.1M Add +5.6%
BSV Vanguard Short-Term Bond ETF 0.77% 731,206 $57.5M Add +9.6%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.73% 674,045 $54.4M Add +2.7%
URTH iShares MSCI World ETF 0.71% 314,193 $53.2M Add +0.3%
KKR KKR & Co. Inc. 0.69% 385,565 $51.3M Reduce -20.6%
IEMG iShares Core MSCI Emerging 0.64% 795,658 $47.8M Add +0.5%
OWL Blue Owl Capital Inc. 0.63% 2,450,000 $47.1M No change
ORCL Oracle Corp. 0.63% 213,617 $46.7M Reduce -0.0%
IAU iShares Gold Trust 0.59% 702,133 $43.8M Add +4.0%
VTI VG Morningstar TS MKT ETF-US 0.55% 135,928 $41.3M Reduce -18.1%
VOTE TCW Transform 500 ETF 0.46% 476,634 $34.7M No change
UNH Unitedhealth Group Inc. 0.42% 99,891 $31.2M Reduce -0.0%
PANW Palo Alto Networks Inc. 0.31% 113,080 $23.1M Add +0.0%
JIRE JPMorgan Int Res Enh Eqty 0.31% 325,485 $23.0M Reduce -4.3%
VIG Vanguard Dividend Apprec ETF 0.28% 101,722 $20.8M No change
ICF iShares Select U.S. REIT ETF 0.27% 330,674 $20.2M Reduce -1.0%
DSI iShares ESG MSCI KLD 400 ETF 0.27% 171,889 $20.0M Add +5.5%
DASH DoorDash Inc. Class A 0.26% 78,314 $19.3M Add +14.4%
CPNG Coupang Inc. 0.25% 630,472 $18.9M Add +21.2%
VXUS Vanguard Total Intl Stock 0.24% 264,656 $18.3M Reduce -2.0%
EFA iShares MSCI Eafe ETF 0.22% 180,816 $16.2M Reduce -7.4%
TPG TPG Inc. 0.20% 281,200 $14.7M Add +62.4%
GRBK Green Brick Partners Inc. 0.20% 231,556 $14.6M No change
BRK.A Berkshire Hathaway Inc. Class A 0.19% 19 $13.8M No change
LYFT LYFT Inc. Class A 0.18% 867,421 $13.7M Reduce -30.2%
TLN Talen Energy Corp. 0.17% 43,993 $12.8M No change
RYAAY Ryanair Holdings PLC-SP ADR 0.17% 220,617 $12.7M No change
AAPL Apple Inc. 0.17% 61,639 $12.6M Reduce -19.6%
META Meta Platforms Inc. Class A 0.17% 17,102 $12.6M Add +5.3%
LBRDK Liberty Broadband-C 0.16% 118,363 $11.6M Reduce -4.4%
PEP Pepsico Inc. 0.15% 86,804 $11.5M Add +0.2%
RSP Invesco S&P 500 Equal Weight 0.15% 60,892 $11.1M Add +45.4%
JPRE JPMorgan Realty Income ETF 0.13% 208,339 $9.9M Add +10.9%
QQQ Invesco QQQ Trust Series 1 0.13% 17,435 $9.6M Reduce -41.9%
IBIT iShares Bitcoin Trust ETF 0.13% 156,689 $9.6M Add +251.9%
LUNR Intuitive Machines Inc. 0.13% 870,000 $9.5M No change
IJH iShares Core S&P Midcap ETF 0.12% 147,916 $9.2M Reduce -4.0%
SCHW Schwab (charles) Corp. 0.12% 100,422 $9.2M Reduce -0.8%
NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP 0.12% 852,921 $9.0M No change
BN Brookfield Corp. 0.12% 145,262 $9.0M No change
DVA Davita Inc. 0.12% 62,931 $9.0M No change
PAVE Global X US Infrastructure 0.11% 194,594 $8.5M Reduce -8.9%
APPN Appian Corp. Class A 0.11% 281,682 $8.4M No change
EWJ iShares MSCI Japan ETF 0.11% 110,262 $8.3M Reduce -2.6%
ICE Intercontinental Exchange Inc. 0.11% 45,047 $8.3M Reduce -0.8%
CRBN Ish Low Car Opt Ms Ac ETF-US 0.10% 36,387 $7.7M Add +38.5%
VEA Vanguard Ftse Developed ETF 0.10% 133,136 $7.6M Reduce -4.8%
BND Vanguard Total Bond Market 0.10% 98,138 $7.2M No change
HOOD Robinhood Markets Inc. Class A 0.10% 76,925 $7.2M Reduce -42.7%
CART Maplebear Inc. 0.10% 159,141 $7.2M New
ARES Ares Management Corp. Class A 0.10% 41,408 $7.2M No change
SHY iShares 1-3 Year Treasury Bo 0.10% 86,255 $7.1M Reduce -3.4%
ETON Eton Pharmaceuticals Inc. 0.09% 492,112 $7.0M No change
ITOT iShares Core S&P Total U.S. 0.09% 50,461 $6.8M Reduce -11.6%
COF Capital One Financial Corp. 0.09% 31,822 $6.8M Reduce -0.7%
ELV Elevance Health Inc. 0.09% 16,774 $6.5M Reduce -0.8%
MCO Moody's Corp. 0.08% 12,439 $6.2M Add +0.1%
GS Goldman Sachs Group Inc. 0.08% 8,672 $6.1M Add +52.1%
CP Canadian Pacific Kansas City 0.08% 76,826 $6.1M No change
GLD SPDR Gold Shares 0.08% 19,968 $6.1M No change
CUBI Customers Bancorp Inc. 0.08% 103,200 $6.1M No change
FWONK Liberty Media Corp. Class C 0.08% 57,853 $6.0M Reduce -1.1%
ALGN Align Technology Inc. 0.08% 31,642 $6.0M No change
LYB Lyondellbasell Indu Class A 0.08% 100,087 $5.8M No change
HIMS Hims & Hers Health Inc. 0.08% 115,834 $5.8M Reduce -29.9%
TDG Transdigm Group Inc. 0.08% 3,786 $5.8M Add +0.1%
BRK.B Berkshire Hathaway Inc. Class B 0.08% 11,804 $5.7M Reduce -0.8%
LINE Lineage Inc. 0.08% 131,295 $5.7M New
TXRH Texas Roadhouse Inc. 0.08% 30,000 $5.6M No change
CHTR Charter Communications Inc. Class A 0.07% 12,972 $5.3M Reduce -1.1%
TSLA Tesla Inc. 0.07% 16,368 $5.2M Add +73.8%
COST Costco Wholesale Corp. 0.06% 4,779 $4.7M Add +0.1%
IVW iShares S&P 500 Growth ETF 0.06% 42,594 $4.7M Reduce -4.0%
INCY Incyte Corp. 0.06% 67,655 $4.6M No change
CACC Credit Acceptance Corp. 0.06% 8,885 $4.5M Reduce -0.8%
DBX Dropbox Inc. Class A 0.06% 158,204 $4.5M No change
JPM JPMorgan Chase & Co. 0.06% 14,870 $4.3M Add +15.7%
IGV iShares Expanded Tech-Softwa 0.06% 39,350 $4.3M Reduce -0.6%
ESGU iShares ESG Aware MSCI USA 0.06% 31,704 $4.3M No change
ENPH Enphase Energy Inc. 0.06% 108,000 $4.3M No change
ICLR Icon PLC 0.06% 29,225 $4.3M Add +2.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.05% 22,440 $4.0M No change

Show all 282 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $142K (not counted above)
SecurityClassShares / PrincipalValueChange
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 17,377$142KNew

Total filed on the 13F, all lines: $7.5B.

Portfolio Sells Q1 2025 → Q2 2025
BX Blackstone Inc. Reduce -12.7% 3.23% −0.94
GOOG Alphabet Inc. Class C Reduce -16.2% 2.01% −0.54
UNH Unitedhealth Group Inc. Reduce -0.0% 0.42% −0.43
SPY SS SPDR S&P 500 ETF Trust-US Reduce -12.3% 1.39% −0.34
KKR KKR & Co. Inc. Reduce -20.6% 0.69% −0.22
VTI VG Morningstar TS MKT ETF-US Reduce -18.1% 0.55% −0.18
NVDA Nvidia Corp. Reduce -17.8% 20.52% −0.13
AAPL Apple Inc. Reduce -19.6% 0.17% −0.11
QQQ Invesco QQQ Trust Series 1 Reduce -41.9% 0.13% −0.10
ABNB Airbnb Inc. Class A Reduce -0.1% 0.83% −0.07
ICF iShares Select U.S. REIT ETF Reduce -1.0% 0.27% −0.06
MELI MercadoLibre Inc. Reduce -62.6% 0.04% −0.06
LYFT LYFT Inc. Class A Reduce -30.2% 0.18% −0.06
JIRE JPMorgan Int Res Enh Eqty Reduce -4.3% 0.31% −0.04
EFA iShares MSCI Eafe ETF Reduce -7.4% 0.22% −0.04
ELV Elevance Health Inc. Reduce -0.8% 0.09% −0.03
VXUS Vanguard Total Intl Stock Reduce -2.0% 0.24% −0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.8% 0.08% −0.03
OKLO Oklo Inc. Sold out 0.00% −0.02
ML Moneylion Inc. Sold out 0.00% −0.02
SHY iShares 1-3 Year Treasury Bo Reduce -3.4% 0.10% −0.02
IJH iShares Core S&P Midcap ETF Reduce -4.0% 0.12% −0.02
MNDY Monday.com Ltd. Sold out 0.00% −0.02
ITOT iShares Core S&P Total U.S. Reduce -11.6% 0.09% −0.02
LOW Lowe's Cos Inc. Sold out 0.00% −0.02
PAVE Global X US Infrastructure Reduce -8.9% 0.11% −0.02
ICE Intercontinental Exchange Inc. Reduce -0.8% 0.11% −0.02
EWJ iShares MSCI Japan ETF Reduce -2.6% 0.11% −0.01
LBRDK Liberty Broadband-C Reduce -4.4% 0.16% −0.01
CACC Credit Acceptance Corp. Reduce -0.8% 0.06% −0.01
AAXJ iShares MSCI All Country Asi Reduce -38.7% 0.02% −0.01
VEA Vanguard Ftse Developed ETF Reduce -4.8% 0.10% −0.01
PCOR Procore Technologies Inc. Reduce -36.8% 0.02% −0.01
ALAB Astera Labs Inc. Reduce -35.3% 0.04% −0.01
IVE iShares S&P 500 Value ETF Reduce -4.4% 0.04% −0.01
VEEV Veeva Systems Inc. Class A Reduce -32.7% 0.02% −0.01
INDA iShares MSCI India ETF Reduce -54.1% 0.01% −0.01
NSC Norfolk Southern Corp. Reduce -66.9% 0.00% −0.01
LLY Eli Lilly & Co. Reduce -25.9% 0.01% −0.01
CHTR Charter Communications Inc. Class A Reduce -1.1% 0.07% −0.01
AIQ Global X Art Intel & Tech Reduce -10.5% 0.05% −0.01
CAVA Cava Group Inc. Sold out 0.00% −0.01
XLE SS Energy Select Sector Reduce -1.7% 0.02% −0.01
SCHW Schwab (charles) Corp. Reduce -0.8% 0.12% −0.01
IWD iShares Russell 1000 Value E Reduce -11.0% 0.02% −0.00
J Jacobs Solutions Inc. Reduce -3.8% 0.03% −0.00
USRT iShares Core US REIT ETF Reduce -3.2% 0.02% −0.00
TLT iShares 20+ Year Treasury BD Reduce -1.4% 0.02% −0.00
FWONK Liberty Media Corp. Class C Reduce -1.1% 0.08% −0.00
CTAS Cintas Corp. Sold out 0.00% −0.00

Portfolio Buys Q1 2025 → Q2 2025
VOO Vanguard S&P 500 ETF Add +185.4% 3.58% +2.21
AVGO Broadcom Inc. Add +6.7% 5.29% +1.66
GOOGL Alphabet Inc. Class A Add +29.9% 5.80% +1.08
MSFT Microsoft Corp. Add +327.4% 1.17% +0.92
AMZN Amazon.com Inc. Add +74.6% 1.81% +0.72
TSM Taiwan Semiconductor-SP ADR Add +11.5% 0.85% +0.18
CART Maplebear Inc. New 0.10% +0.10
IBIT iShares Bitcoin Trust ETF Add +251.9% 0.13% +0.09
LINE Lineage Inc. New 0.08% +0.08
CPNG Coupang Inc. Add +21.2% 0.25% +0.07
TPG TPG Inc. Add +62.4% 0.20% +0.06
DASH DoorDash Inc. Class A Add +14.4% 0.26% +0.06
ARKK ARK Innovation ETF New 0.05% +0.05
ONON On Holding AG Class A New 0.04% +0.04
BKLN Invesco Senior Loan ETF New 0.04% +0.04
FXI iShares China Large-Cap ETF New 0.03% +0.03
MSA Msa Safety Inc. New 0.03% +0.03
GS Goldman Sachs Group Inc. Add +52.1% 0.08% +0.03
RSP Invesco S&P 500 Equal Weight Add +45.4% 0.15% +0.03
TSLA Tesla Inc. Add +73.8% 0.07% +0.03
DVAX Dynavax Technologies Corp. New 0.03% +0.03
SHE SS SPDR MSCI U Gend Div ETF Add +388.0% 0.03% +0.03
EOLS Evolus Inc. New 0.02% +0.02
CRBN Ish Low Car Opt Ms Ac ETF-US Add +38.5% 0.10% +0.02
META Meta Platforms Inc. Class A Add +5.3% 0.17% +0.02
LII Lennox International Inc. New 0.01% +0.01
DAWN Day One Biopharmaceuticals I New 0.01% +0.01
HALO Halozyme Therapeutics Inc. New 0.01% +0.01
K Kellanova New 0.01% +0.01
TTWO Take-Two Interactive Softwre New 0.01% +0.01
SNOW Snowflake Inc. New 0.01% +0.01
JPM JPMorgan Chase & Co. Add +15.7% 0.06% +0.01
CSCO Cisco Systems Inc. Add +60.1% 0.01% +0.00
URA Global X Uranium ETF New 0.00% +0.00
VGT Vanguard Info Tech ETF Add +18.3% 0.03% +0.00
PH Parker Hannifin Corp. New 0.00% +0.00
PG The Procter & Gamble Co. New 0.00% +0.00
QUAL iShares MSCI USA Quality Fac New 0.00% +0.00
MCD McDonald's Corp. New 0.00% +0.00
BAC Bank of America Corp. New 0.00% +0.00
ICLN iShares Global Clean Energy New 0.00% +0.00
NUE Nucor Corp. New 0.00% +0.00
AL Sumisho Air Lease Corp. New 0.00% +0.00
EMR Emerson Electric Co. New 0.00% +0.00
ITW Illinois Tool Works New 0.00% +0.00
VWO Vanguard Ftse Emerging Marke Add +45.5% 0.01% +0.00
SMIN iShares MSCI India Small-Cap New 0.00% +0.00
CLS Celestica Inc. Add +2.0% 0.01% +0.00
QQQM Invesco Nasdaq 100 ETF New 0.00% +0.00
GDX Vaneck Gold Miners ETF Add +80.4% 0.01% +0.00

Notes & Other Activity Q1 2025 → Q2 2025
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 New 17,377 $142K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 409$6.9BIVV, APO, VOO, GOOGL, GOOG
Q1 2026 364$9.4BNVDA, GOOGL, APO, IVV, AVGO
Q4 2025 385$10.1BNVDA, APO, GOOGL, IVV, AVGO
Q3 2025 325$8.9BNVDA, APO, IVV, GOOGL, AVGO
Q2 2025 282$7.5BNVDA, APO, IVV, GOOGL, AVGO
Q1 2025 265$6.2BNVDA, APO, IVV, GOOGL, BX
Q4 2024 269$6.9BNVDA, APO, IVV, GOOGL, BX
Q3 2024 253$5.5BNVDA, APO, IVV, BX, CVNA
Q2 2024 258$5.2BNVDA, APO, IVV, BX, SPY
Q1 2024 269$4.6BNVDA, APO, IVV, BX, SPY