Norden Group LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Norden Group LLC reported 526 stock positions worth $884.2 million. Its top holding was Pgim Aaa Clo ETF (PAAA) at 4.3% of the portfolio, followed by Apple (AAPL, 3.6%) and Janus Henderson Aaa Clo ETF (JAAA, 3.5%). Compared with Q3 2024, it opened 48 new positions, sold out of 32, added to 256 and reduced 200. The biggest buy was Janus Henderson Aaa Clo ETF (JAAA, shares +596%) and the biggest sale Snowflake (SNOW, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- PROVO, UT
- CIK
- 0001990699
- Portfolio Value
- $884.2M (Q4 2024)
- SEC Filing
- 0001990699-25-000001 ↗ filed Feb 5, 2025
Holdings Value
Holdings 526 stocks · $884.2M
| PAAA Pgim Aaa Clo ETF | 4.29% | 740,168 | $37.9M | Add +80.7% |
| AAPL Apple Inc. | 3.59% | 126,900 | $31.8M | Add +0.7% |
| JAAA Janus Henderson Aaa Clo ETF | 3.46% | 603,657 | $30.6M | Add +595.6% |
| MSFT Microsoft Corp. | 3.13% | 65,671 | $27.7M | Add +2.5% |
| JPST JPMorgan Ultra-Short Income | 2.87% | 503,482 | $25.4M | Reduce -4.3% |
| AMZN Amazon.com Inc. | 2.42% | 97,471 | $21.4M | Reduce -9.4% |
| NVDA Nvidia Corp. | 2.14% | 141,112 | $18.9M | Add +3.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.75% | 26,392 | $15.5M | Add +3.4% |
| GOOGL Alphabet Inc. Class A | 1.19% | 55,382 | $10.5M | Add +3.2% |
| GOOG Alphabet Inc. Class C | 1.13% | 52,243 | $9.9M | Reduce -1.4% |
| IYZ iShares US Telecommunication | 1.08% | 356,118 | $9.6M | New |
| IYC iShares US Consumer Discreti | 1.08% | 99,046 | $9.5M | New |
| JNK SS SPDR BB High Yield Bond | 1.06% | 97,895 | $9.3M | Reduce -6.5% |
| IYF iShares US Financials ETF | 1.05% | 83,859 | $9.3M | Add +0.6% |
| IDU iShares US Utilities ETF | 1.01% | 92,732 | $8.9M | Add +5.9% |
| V Visa Inc. Class A | 0.95% | 26,659 | $8.4M | Reduce -1.9% |
| NFLX Netflix Inc. | 0.94% | 9,317 | $8.3M | Reduce -2.5% |
| AVGO Broadcom Inc. | 0.89% | 34,000 | $7.9M | Add +11.0% |
| IVW iShares S&P 500 Growth ETF | 0.88% | 76,652 | $7.8M | Add +2.5% |
| IVE iShares S&P 500 Value ETF | 0.83% | 38,521 | $7.4M | Add +979.6% |
| MA Mastercard Inc. Class A | 0.83% | 13,889 | $7.3M | Reduce -1.4% |
| IVV iShares Core S&P 500 ETF | 0.80% | 12,040 | $7.1M | Add +6.2% |
| PULS Pgim Ultra Short Bond ETF | 0.77% | 136,721 | $6.8M | Reduce -7.3% |
| ORCL Oracle Corp. | 0.76% | 40,094 | $6.7M | Add +12.6% |
| IYR iShares US Real Estate ETF | 0.74% | 70,555 | $6.6M | Reduce -14.6% |
| NOW ServiceNow Inc. | 0.73% | 6,118 | $6.5M | Reduce -15.3% |
| META Meta Platforms Inc. Class A | 0.72% | 11,420 | $6.4M | Reduce -1.2% |
| TSLA Tesla Inc. | 0.70% | 15,315 | $6.2M | Reduce -0.3% |
| ADBE Adobe Inc. | 0.68% | 13,570 | $6.0M | Reduce -2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.65% | 12,702 | $5.8M | Add +4.4% |
| TXN Texas Instruments Inc. | 0.64% | 30,088 | $5.6M | Add +5.5% |
| LLY Eli Lilly & Co. | 0.61% | 6,993 | $5.4M | Add +77.5% |
| BMY Bristol-Myers Squibb Co. | 0.59% | 92,076 | $5.2M | Add +325.2% |
| CSCO Cisco Systems Inc. | 0.58% | 87,260 | $5.2M | Reduce -1.8% |
| JPM JPMorgan Chase & Co. | 0.58% | 21,341 | $5.1M | Add +3.0% |
| PM Philip Morris International | 0.57% | 41,747 | $5.0M | Reduce -38.8% |
| ACN Accenture PLC Class A | 0.56% | 14,181 | $5.0M | Reduce -4.0% |
| MPWR Monolithic Power Systems Inc. | 0.56% | 8,398 | $5.0M | Add +442.2% |
| ABT Abbott Laboratories | 0.51% | 40,115 | $4.5M | Reduce -4.9% |
| RTX RTX Corp. | 0.50% | 38,044 | $4.4M | Reduce -1.9% |
| SHOP Shopify Inc. Class A | 0.49% | 40,452 | $4.3M | Reduce -6.7% |
| XOM Exxon Mobil Corp. | 0.49% | 39,965 | $4.3M | Add +4.4% |
| LRCX Lam Research Corp. | 0.49% | 59,497 | $4.3M | Add +4.1% |
| ACI Albertsons Cos Inc. Class A | 0.48% | 214,831 | $4.2M | New |
| FTNT Fortinet Inc. | 0.48% | 44,623 | $4.2M | New |
| BABA Alibaba Group Holding-SP ADR | 0.47% | 48,499 | $4.1M | New |
| VZ Verizon Communications Inc. | 0.46% | 102,686 | $4.1M | Reduce -2.0% |
| NVS Novartis AG-Sponsored ADR | 0.46% | 42,060 | $4.1M | New |
| WFC Wells Fargo & Co. | 0.43% | 54,576 | $3.8M | Reduce -9.8% |
| ZTS Zoetis Inc. | 0.43% | 23,348 | $3.8M | Add +18.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.43% | 85,967 | $3.8M | Reduce -4.1% |
| JNJ Johnson & Johnson | 0.42% | 25,953 | $3.8M | Add +5.9% |
| TDG Transdigm Group Inc. | 0.42% | 2,956 | $3.7M | New |
| NET Cloudflare Inc. Class A | 0.42% | 34,423 | $3.7M | Reduce -12.6% |
| TMO Thermo Fisher Scientific Inc. | 0.41% | 6,946 | $3.6M | Reduce -8.4% |
| HD Home Depot Inc. | 0.40% | 9,181 | $3.6M | Reduce -3.2% |
| UNH Unitedhealth Group Inc. | 0.40% | 7,003 | $3.5M | Reduce -20.9% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.39% | 40,321 | $3.5M | Reduce -11.8% |
| PG The Procter & Gamble Co. | 0.39% | 20,319 | $3.4M | Add +9.5% |
| QCOM Qualcomm Inc. | 0.38% | 21,773 | $3.3M | Add +0.3% |
| KO The Coca-Cola Co. | 0.37% | 53,132 | $3.3M | Add +4.9% |
| PEP Pepsico Inc. | 0.36% | 20,768 | $3.2M | Add +9.5% |
| MDT Medtronic PLC | 0.36% | 39,425 | $3.1M | Reduce -1.4% |
| ABBV Abbvie Inc. | 0.36% | 17,681 | $3.1M | Reduce -0.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.35% | 35,531 | $3.1M | Add +32.7% |
| ABNB Airbnb Inc. Class A | 0.35% | 23,529 | $3.1M | Reduce -3.3% |
| WMT Walmart Inc. | 0.33% | 32,622 | $2.9M | Reduce -0.9% |
| MRK Merck & Co. Inc. | 0.33% | 29,487 | $2.9M | Add +8.3% |
| COST Costco Wholesale Corp. | 0.33% | 3,160 | $2.9M | Add +8.6% |
| MORN Morningstar Inc. | 0.33% | 8,545 | $2.9M | Reduce -0.6% |
| UL Unilever PLC | 0.32% | 49,443 | $2.8M | Reduce -1.4% |
| MSCI MSCI Inc. | 0.31% | 4,620 | $2.8M | Reduce -4.5% |
| CRM Salesforce Inc. | 0.31% | 8,231 | $2.8M | Add +5.5% |
| OLLI Ollie's Bargain Outlet Holdi | 0.31% | 24,868 | $2.7M | Add +44.0% |
| SPSC SPS Commerce Inc. | 0.31% | 14,829 | $2.7M | Add +0.1% |
| CVX Chevron Corp. | 0.31% | 18,818 | $2.7M | Add +8.4% |
| T AT&T Inc. | 0.29% | 113,611 | $2.6M | Add +33.3% |
| HYD Vaneck High Yield Muni ETF | 0.29% | 48,957 | $2.5M | Reduce -0.0% |
| WDAY Workday Inc. Class A | 0.28% | 9,752 | $2.5M | Reduce -5.4% |
| BDX Becton Dickinson and Co. | 0.28% | 11,088 | $2.5M | Add +9.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 22,260 | $2.5M | Add +0.9% |
| GILD Gilead Sciences Inc. | 0.27% | 26,104 | $2.4M | Add +1.3% |
| LOW Lowe's Cos Inc. | 0.27% | 9,600 | $2.4M | Reduce -5.8% |
| HDV iShares Core High Dividend E | 0.25% | 19,879 | $2.2M | Add +1.1% |
| CMCSA Comcast Corp. Class A | 0.25% | 59,220 | $2.2M | Add +0.3% |
| CW Curtiss-Wright Corp. | 0.25% | 6,246 | $2.2M | Add +1.2% |
| COP Conocophillips | 0.25% | 22,099 | $2.2M | Add +35.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.24% | 9,711 | $2.1M | Add +1.1% |
| AAON Aaon Inc. | 0.23% | 17,212 | $2.0M | Reduce -19.9% |
| GD General Dynamics Corp. | 0.23% | 7,680 | $2.0M | Reduce -0.9% |
| DUK Duke Energy Corp. | 0.23% | 18,559 | $2.0M | Add +2.2% |
| MCD McDonald's Corp. | 0.22% | 6,622 | $1.9M | Add +3.6% |
| IT Gartner Inc. | 0.22% | 3,929 | $1.9M | Reduce -22.2% |
| CAT Caterpillar Inc. | 0.21% | 5,213 | $1.9M | Add +11.0% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.21% | 54,699 | $1.9M | Add +11.2% |
| WST West Pharmaceutical Services | 0.21% | 5,694 | $1.9M | Add +2.8% |
| PTC PTC Inc. | 0.20% | 9,845 | $1.8M | Add +1.0% |
| RYAN Ryan Specialty Holdings Inc. | 0.20% | 27,973 | $1.8M | Reduce -34.2% |
| AEM Agnico Eagle Mines Ltd. | 0.20% | 22,908 | $1.8M | Reduce -0.9% |
| RUN Sunrun Inc. | 0.20% | 192,326 | $1.8M | Add +11.8% |
Portfolio Sells Q3 2024 → Q4 2024
| SNOW Snowflake Inc. | Reduce -95.0% | 0.16% | −2.27 |
| IYW iShares Ustechnology ETF | Sold out | 0.00% | −1.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -85.6% | 0.13% | −0.77 |
| EFA iShares MSCI Eafe ETF | Reduce -82.2% | 0.14% | −0.75 |
| IJK iShares S&P Mid-Cap 400 Grow | Sold out | 0.00% | −0.73 |
| GE General Electric | Reduce -90.8% | 0.04% | −0.50 |
| AXP American Express Co. | Reduce -74.3% | 0.18% | −0.48 |
| CHE Chemed Corp. | Sold out | 0.00% | −0.48 |
| CL Colgate-Palmolive Co. | Reduce -83.5% | 0.07% | −0.46 |
| PM Philip Morris International | Reduce -38.8% | 0.57% | −0.41 |
| FANG Diamondback Energy Inc. | Reduce -93.0% | 0.03% | −0.40 |
| BKNG Booking Holdings Inc. | Reduce -71.5% | 0.16% | −0.34 |
| TLT iShares 20+ Year Treasury BD | Reduce -81.5% | 0.06% | −0.34 |
| JPST JPMorgan Ultra-Short Income | Reduce -4.3% | 2.87% | −0.28 |
| IYR iShares US Real Estate ETF | Reduce -14.6% | 0.74% | −0.25 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -11.8% | 0.39% | −0.25 |
| UNH Unitedhealth Group Inc. | Reduce -20.9% | 0.40% | −0.21 |
| ADBE Adobe Inc. | Reduce -2.5% | 0.68% | −0.17 |
| JNK SS SPDR BB High Yield Bond | Reduce -6.5% | 1.06% | −0.15 |
| TMO Thermo Fisher Scientific Inc. | Reduce -8.4% | 0.41% | −0.15 |
| RYAN Ryan Specialty Holdings Inc. | Reduce -34.2% | 0.20% | −0.13 |
| JSMD Janus Small Mid Cap GR Alp | Sold out | 0.00% | −0.10 |
| PULS Pgim Ultra Short Bond ETF | Reduce -7.3% | 0.77% | −0.10 |
| XHLF Bondbloxx BBG 6 MTH US Treas | Sold out | 0.00% | −0.10 |
| GLDM SPDR Gold Minishares Trust | Reduce -50.8% | 0.08% | −0.09 |
| VZ Verizon Communications Inc. | Reduce -2.0% | 0.46% | −0.09 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Sold out | 0.00% | −0.09 |
| AVY Avery Dennison Corp. | Reduce -42.1% | 0.08% | −0.09 |
| IT Gartner Inc. | Reduce -22.2% | 0.22% | −0.09 |
| HOLX Hologic Inc. | Sold out | 0.00% | −0.09 |
| FN Fabrinet | Sold out | 0.00% | −0.08 |
| CVS CVS Health Corp. | Reduce -1.2% | 0.17% | −0.08 |
| PFE Pfizer Inc. | Reduce -38.0% | 0.09% | −0.08 |
| TDY Teledyne Technologies Inc. | Reduce -41.0% | 0.12% | −0.08 |
| ENTG Entegris Inc. | Reduce -32.7% | 0.10% | −0.08 |
| POOL Pool Corp. | Reduce -29.2% | 0.12% | −0.08 |
| SHYG iShares 0-5 YR HY Corp. Bond | Reduce -36.7% | 0.11% | −0.07 |
| QUAL iShares MSCI USA Quality Fac | Reduce -61.7% | 0.04% | −0.07 |
| MDT Medtronic PLC | Reduce -1.4% | 0.36% | −0.07 |
| UL Unilever PLC | Reduce -1.4% | 0.32% | −0.07 |
| CALX Calix Inc. | Sold out | 0.00% | −0.07 |
| AMD Advanced Micro Devices | Reduce -17.1% | 0.09% | −0.06 |
| OPCH Option Care Health Inc. | Sold out | 0.00% | −0.06 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -26.4% | 0.12% | −0.06 |
| FIX Comfort Systems USA Inc. | Reduce -26.6% | 0.19% | −0.06 |
| ABBV Abbvie Inc. | Reduce -0.4% | 0.36% | −0.06 |
| LOW Lowe's Cos Inc. | Reduce -5.8% | 0.27% | −0.06 |
| HUM Humana Inc. | Sold out | 0.00% | −0.06 |
| RTX RTX Corp. | Reduce -1.9% | 0.50% | −0.06 |
| EMB iShares JP Morgan Usd Emergi | Reduce -30.3% | 0.10% | −0.06 |
Portfolio Buys Q3 2024 → Q4 2024
| JAAA Janus Henderson Aaa Clo ETF | Add +595.6% | 3.46% | +2.94 |
| PAAA Pgim Aaa Clo ETF | Add +80.7% | 4.29% | +1.81 |
| IYZ iShares US Telecommunication | New | 1.08% | +1.08 |
| IYC iShares US Consumer Discreti | New | 1.08% | +1.08 |
| IVE iShares S&P 500 Value ETF | Add +979.6% | 0.83% | +0.75 |
| ACI Albertsons Cos Inc. Class A | New | 0.48% | +0.48 |
| FTNT Fortinet Inc. | New | 0.48% | +0.48 |
| BABA Alibaba Group Holding-SP ADR | New | 0.47% | +0.47 |
| NVS Novartis AG-Sponsored ADR | New | 0.46% | +0.46 |
| BMY Bristol-Myers Squibb Co. | Add +325.2% | 0.59% | +0.46 |
| TDG Transdigm Group Inc. | New | 0.42% | +0.42 |
| MPWR Monolithic Power Systems Inc. | Add +442.2% | 0.56% | +0.39 |
| AVGO Broadcom Inc. | Add +11.0% | 0.89% | +0.27 |
| LLY Eli Lilly & Co. | Add +77.5% | 0.61% | +0.20 |
| NVDA Nvidia Corp. | Add +3.1% | 2.14% | +0.18 |
| GOOGL Alphabet Inc. Class A | Add +3.2% | 1.19% | +0.14 |
| AAPL Apple Inc. | Add +0.7% | 3.59% | +0.13 |
| CSGP Costar Group Inc. | New | 0.12% | +0.12 |
| OLLI Ollie's Bargain Outlet Holdi | Add +44.0% | 0.31% | +0.11 |
| EPAC Enerpac Tool Group Corp. | New | 0.11% | +0.11 |
| GDDY GoDaddy Inc. Class A | New | 0.09% | +0.09 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +32.7% | 0.35% | +0.09 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +153.7% | 0.15% | +0.09 |
| SHY iShares 1-3 Year Treasury Bo | Add +301.6% | 0.11% | +0.08 |
| WAL Western Alliance Bancorp | New | 0.08% | +0.08 |
| BMI Badger Meter Inc. | Add +368.4% | 0.11% | +0.08 |
| DXCM Dexcom Inc. | New | 0.08% | +0.08 |
| ATR Aptargroup Inc. | New | 0.07% | +0.07 |
| T AT&T Inc. | Add +33.3% | 0.29% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +3.0% | 0.58% | +0.06 |
| AEO American Eagle Outfitters | New | 0.06% | +0.06 |
| SFM Sprouts Farmers Market Inc. | Add +197.8% | 0.09% | +0.06 |
| MKTX Marketaxess Holdings Inc. | New | 0.06% | +0.06 |
| TSM Taiwan Semiconductor-SP ADR | Add +86.2% | 0.12% | +0.06 |
| CRM Salesforce Inc. | Add +5.5% | 0.31% | +0.06 |
| ASML ASML Holding NV-NY Reg SHS | Add +82.2% | 0.18% | +0.06 |
| PJT PJT Partners Inc. Class A | Add +118.3% | 0.10% | +0.06 |
| PSN Parsons Corp. | New | 0.06% | +0.06 |
| CGUS Cap Group Core Equity | Add +41.8% | 0.20% | +0.05 |
| TROW T Rowe Price Group Inc. | New | 0.05% | +0.05 |
| COP Conocophillips | Add +35.3% | 0.25% | +0.04 |
| PLTR Palantir Technologies Inc. Class A | New | 0.04% | +0.04 |
| APP AppLovin Corp. Class A | New | 0.04% | +0.04 |
| TIP iShares Tips Bond ETF | Add +50.2% | 0.14% | +0.04 |
| STIP iShares 0-5 Year Tips Bond E | Add +113.9% | 0.08% | +0.04 |
| ORCL Oracle Corp. | Add +12.6% | 0.76% | +0.04 |
| VXUS Vanguard Total Intl Stock | New | 0.04% | +0.04 |
| CCB Coastal Financial Corp. | New | 0.04% | +0.04 |
| KMI Kinder Morgan Inc. | Add +52.8% | 0.08% | +0.04 |
| BA The Boeing Co. | Add +19.2% | 0.14% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 701 | $1.2B | AAPL, NVDA, PAAA, MSFT, GOOGL |
| Q1 2026 | 615 | $1.0B | PAAA, AAPL, NVDA, MSFT, AMZN |
| Q4 2025 | 605 | $1.0B | PAAA, AAPL, NVDA, MSFT, AMZN |
| Q3 2025 | 573 | $984.2M | PAAA, NVDA, MSFT, AAPL, AMZN |
| Q2 2025 | 555 | $921.2M | PAAA, MSFT, NVDA, AAPL, AMZN |
| Q1 2025 | 531 | $868.9M | PAAA, SPY, JPST, AAPL, MSFT |
| Q4 2024 | 526 | $884.2M | PAAA, AAPL, JAAA, MSFT, JPST |
| Q3 2024 | 510 | $847.3M | AAPL, MSFT, JPST, PAAA, SNOW |
| Q2 2024 | 404 | $494.8M | MSFT, NVDA, AMZN, AAPL, JPST |
| Q1 2024Amended | 407 | $492.3M | MSFT, AMZN, PULS, JPST, AAPL |