NorthCoast Asset Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 20, 2026), NorthCoast Asset Management LLC reported 471 stock positions worth $4.5 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 7.0% of the portfolio, followed by Apple (AAPL, 5.9%) and Microsoft (MSFT, 4.9%). Compared with Q3 2025, it opened 11 new positions, sold out of 923, added to 59 and reduced 397. The biggest buy was iShares MBS ETF (MBB, shares +0%) and the biggest sale an exit from Kovitz Core Equity ETF (EQTY).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001665198
- Portfolio Value
- $4.5B (Q4 2025)
- SEC Filing
- 0001765380-26-000111 ↗ filed Feb 20, 2026
Holdings Value
Holdings 471 stocks · $4.5B
| SPY SS SPDR S&P 500 ETF Trust-US | 7.02% | 465,116 | $317.2M | Reduce -41.3% |
| AAPL Apple Inc. | 5.91% | 981,399 | $266.8M | Reduce -67.2% |
| MSFT Microsoft Corp. | 4.88% | 455,725 | $220.4M | Reduce -73.2% |
| IVV iShares Core S&P 500 ETF | 4.41% | 290,483 | $199.0M | Reduce -49.3% |
| NVDA Nvidia Corp. | 3.74% | 905,523 | $168.9M | Reduce -63.2% |
| GOOGL Alphabet Inc. Class A | 2.56% | 368,852 | $115.5M | Reduce -81.3% |
| IBTG iShares Ibonds Dec 2026 Term | 2.39% | 4,714,898 | $107.9M | Reduce -5.6% |
| SPHQ Invesco S&P 500 Quality ETF | 1.67% | 1,002,293 | $75.2M | Reduce -16.2% |
| JPST JPMorgan Ultra-Short Income | 1.51% | 1,348,757 | $68.2M | Reduce -31.4% |
| AMZN Amazon.com Inc. | 1.50% | 293,339 | $67.7M | Reduce -87.8% |
| AVGO Broadcom Inc. | 1.40% | 182,449 | $63.1M | Reduce -85.7% |
| META Meta Platforms Inc. Class A | 1.37% | 93,403 | $61.7M | Reduce -76.6% |
| MBB iShares MBS ETF | 1.36% | 646,897 | $61.6M | Add +0.4% |
| MU Micron Technology Inc. | 1.29% | 203,377 | $58.0M | Reduce -55.8% |
| LRCX Lam Research Corp. | 1.06% | 279,906 | $47.9M | Reduce -88.2% |
| GM General Motors Co. | 1.06% | 587,432 | $47.8M | Add +45.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.99% | 98,375 | $44.6M | Add +22.1% |
| C Citigroup Inc. | 0.98% | 378,638 | $44.2M | Reduce -42.9% |
| IBTH iShares Ibonds Dec 2027 Term | 0.97% | 1,940,729 | $43.6M | Add +71.3% |
| UNH Unitedhealth Group Inc. | 0.94% | 128,943 | $42.6M | Reduce -22.4% |
| SCHW Schwab (charles) Corp. | 0.92% | 413,767 | $41.3M | Reduce -82.2% |
| GD General Dynamics Corp. | 0.90% | 121,207 | $40.8M | Add +209.0% |
| QCOM Qualcomm Inc. | 0.87% | 230,632 | $39.4M | Reduce -40.6% |
| TRV The Travelers Cos Inc. | 0.85% | 132,629 | $38.5M | Reduce -2.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.85% | 696,137 | $38.3M | Reduce -16.1% |
| GOOG Alphabet Inc. Class C | 0.84% | 121,526 | $38.1M | Reduce -88.5% |
| TMUS T-Mobile US Inc. | 0.84% | 186,229 | $37.8M | Reduce -32.8% |
| CRM Salesforce Inc. | 0.83% | 142,282 | $37.7M | Reduce -81.0% |
| NEM Newmont Corp. | 0.77% | 347,564 | $34.7M | Reduce -42.0% |
| TSLA Tesla Inc. | 0.77% | 77,140 | $34.7M | Reduce -51.0% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.73% | 544,131 | $33.1M | Add +13770.3% |
| BMY Bristol-Myers Squibb Co. | 0.69% | 575,157 | $31.0M | Reduce -27.7% |
| WDAY Workday Inc. Class A | 0.68% | 143,532 | $30.8M | Reduce -5.6% |
| IEI iShares 3-7 Year Treasury Bo | 0.67% | 253,161 | $30.2M | Reduce -45.6% |
| CAH Cardinal Health Inc. | 0.62% | 136,024 | $28.0M | Reduce -42.5% |
| EQT Eqt Corp. | 0.60% | 504,556 | $27.0M | Add +3.6% |
| FTEC Fidelity MSCI Info Tech Indx | 0.60% | 120,334 | $27.0M | Reduce -15.4% |
| JPM JPMorgan Chase & Co. | 0.58% | 81,982 | $26.4M | Reduce -87.1% |
| EZU iShares MSCI Eurozone ETF | 0.57% | 399,572 | $25.6M | Add +109.5% |
| ACN Accenture PLC Class A | 0.55% | 93,084 | $25.0M | Reduce -79.8% |
| CEG Constellation Energy | 0.54% | 68,981 | $24.4M | Reduce -57.5% |
| INTU Intuit Inc. | 0.54% | 36,620 | $24.3M | Reduce -29.0% |
| CBOE Cboe Global Markets Inc. | 0.52% | 94,071 | $23.6M | Reduce -11.8% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.50% | 431,100 | $22.7M | Reduce -0.9% |
| ANET Arista Networks Inc. | 0.49% | 169,040 | $22.1M | Reduce -79.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.49% | 194,217 | $22.1M | Reduce -44.1% |
| BSX Boston Scientific Corp. | 0.49% | 230,570 | $22.0M | Reduce -0.7% |
| IEF iShares 7-10 Year Treasury B | 0.47% | 222,978 | $21.4M | Reduce -82.4% |
| MCK McKesson Corp. | 0.46% | 25,447 | $20.9M | Reduce -48.0% |
| AMP Ameriprise Financial Inc. | 0.46% | 42,354 | $20.8M | Reduce -12.1% |
| HWM Howmet Aerospace Inc. | 0.46% | 101,138 | $20.7M | Reduce -11.4% |
| HLT Hilton Worldwide Holdings Inc. | 0.45% | 71,265 | $20.5M | Reduce -6.5% |
| SHY iShares 1-3 Year Treasury Bo | 0.45% | 246,663 | $20.4M | Reduce -46.5% |
| VCIT Vanguard Int-Term Corporate | 0.45% | 243,359 | $20.4M | Add +765.7% |
| TEL Te Connectivity PLC | 0.45% | 89,471 | $20.4M | Reduce -24.4% |
| APH Amphenol Corp. Class A | 0.43% | 144,828 | $19.6M | Reduce -25.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.41% | 37,138 | $18.7M | Reduce -88.4% |
| ALL Allstate Corp. | 0.40% | 87,673 | $18.2M | Reduce -27.1% |
| AMD Advanced Micro Devices | 0.40% | 84,815 | $18.2M | Reduce -95.3% |
| PLTR Palantir Technologies Inc. Class A | 0.40% | 100,770 | $17.9M | Reduce -40.0% |
| ORCL Oracle Corp. | 0.39% | 91,285 | $17.8M | Reduce -49.0% |
| AMAT Applied Materials Inc. | 0.38% | 67,326 | $17.3M | Reduce -90.9% |
| UBER Uber Technologies Inc. | 0.37% | 206,016 | $16.8M | Reduce -58.3% |
| MA Mastercard Inc. Class A | 0.36% | 28,835 | $16.5M | Reduce -75.9% |
| PH Parker Hannifin Corp. | 0.36% | 18,387 | $16.2M | Reduce -92.1% |
| IEMG iShares Core MSCI Emerging | 0.35% | 236,519 | $15.9M | Reduce -76.2% |
| TXN Texas Instruments Inc. | 0.35% | 91,325 | $15.8M | Reduce -24.3% |
| TIP iShares Tips Bond ETF | 0.35% | 143,479 | $15.8M | Add +33.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.34% | 193,488 | $15.4M | Reduce -43.3% |
| EMB iShares JP Morgan Usd Emergi | 0.33% | 156,937 | $15.1M | Reduce -11.9% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.33% | 281,564 | $14.9M | Reduce -84.3% |
| FNCL Fidelity MSCI Financial Indx | 0.33% | 189,496 | $14.7M | Reduce -7.7% |
| CL Colgate-Palmolive Co. | 0.32% | 181,063 | $14.3M | Add +447.1% |
| IJH iShares Core S&P Midcap ETF | 0.31% | 211,826 | $14.0M | Reduce -64.7% |
| PYPL PayPal Holdings Inc. | 0.31% | 237,672 | $13.9M | Reduce -48.7% |
| EWJ iShares MSCI Japan ETF | 0.30% | 166,711 | $13.5M | Reduce -1.9% |
| PGR Progressive Corp. | 0.29% | 58,014 | $13.2M | Reduce -43.3% |
| SYK Stryker Corp. | 0.29% | 37,445 | $13.2M | Reduce -2.5% |
| VZ Verizon Communications Inc. | 0.29% | 321,072 | $13.1M | Reduce -55.9% |
| AIG American International Group | 0.28% | 147,660 | $12.6M | Reduce -14.4% |
| NUE Nucor Corp. | 0.27% | 76,111 | $12.4M | Reduce -13.6% |
| AZO AutoZone Inc. | 0.27% | 3,625 | $12.3M | Reduce -54.6% |
| NEE Nextera Energy Inc. | 0.27% | 153,029 | $12.3M | Reduce -47.9% |
| EWC iShares MSCI Canada ETF | 0.27% | 222,072 | $12.0M | Reduce -37.6% |
| TFLO iShares Treasury Floating Ra | 0.26% | 236,310 | $11.9M | Reduce -11.2% |
| COR Cencora Inc. | 0.25% | 34,067 | $11.5M | Add +728.5% |
| MET Metlife Inc. | 0.25% | 142,076 | $11.2M | Reduce -49.2% |
| IGOV iShares International Treasu | 0.25% | 268,837 | $11.2M | Reduce -38.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 17,863 | $11.0M | Reduce -71.1% |
| FIDU Fidelity MSCI Indust Indx | 0.24% | 129,994 | $10.7M | Reduce -7.7% |
| OKE Oneok Inc. | 0.24% | 145,420 | $10.7M | Reduce -31.0% |
| AGG iShares Core U.S. Aggregate | 0.23% | 106,257 | $10.6M | Reduce -76.9% |
| XOM Exxon Mobil Corp. | 0.23% | 87,809 | $10.6M | Reduce -82.7% |
| TLT iShares 20+ Year Treasury BD | 0.23% | 119,017 | $10.4M | Add +9.2% |
| VGIT Vanguard Intermediate-Term T | 0.22% | 168,785 | $10.1M | Reduce -84.0% |
| TLH iShares 10-20 Year Treasury | 0.22% | 98,891 | $10.1M | Add +70.2% |
| EWU iShares MSCI United Kingdom | 0.22% | 228,553 | $10.1M | Reduce -1.9% |
| IDV iShares International Select | 0.22% | 253,096 | $10.0M | Reduce -25.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.22% | 123,091 | $9.9M | Reduce -4.9% |
| AXP American Express Co. | 0.22% | 26,288 | $9.7M | Reduce -89.5% |
Portfolio Sells Q3 2025 → Q4 2025
| EQTY Kovitz Core Equity ETF | Sold out | 0.00% | −4.58 |
| POWL Powell Industries Inc. | Sold out | 0.00% | −2.75 |
| JAAA Janus Henderson Aaa Clo ETF | Sold out | 0.00% | −1.55 |
| TMO Thermo Fisher Scientific Inc. | Reduce -98.4% | 0.15% | −1.21 |
| KEYS Keysight Technologies Inc. | Reduce -99.7% | 0.02% | −1.11 |
| IWF iShares Russell 1000 Growth | Reduce -99.1% | 0.06% | −1.08 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -99.0% | 0.06% | −1.07 |
| ICE Intercontinental Exchange Inc. | Reduce -98.2% | 0.10% | −0.88 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -99.8% | 0.01% | −0.80 |
| AMD Advanced Micro Devices | Reduce -95.3% | 0.40% | −0.74 |
| LOW Lowe's Cos Inc. | Reduce -99.8% | 0.01% | −0.71 |
| SCHG Schwab US Large-Cap Growth | Sold out | 0.00% | −0.71 |
| GXO Gxo Logistics Inc. | Reduce -99.7% | 0.01% | −0.71 |
| ADBE Adobe Inc. | Reduce -97.7% | 0.11% | −0.71 |
| FISV Fiserv Inc. | Reduce -99.5% | 0.01% | −0.69 |
| PM Philip Morris International | Reduce -98.4% | 0.07% | −0.68 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.68 |
| APO Apollo Global Management Inc. | Reduce -98.2% | 0.07% | −0.60 |
| BX Blackstone Inc. | Reduce -99.3% | 0.02% | −0.60 |
| AMZN Amazon.com Inc. | Reduce -87.8% | 1.50% | −0.57 |
| IVE iShares S&P 500 Value ETF | Reduce -99.5% | 0.02% | −0.56 |
| IWD iShares Russell 1000 Value E | Reduce -95.5% | 0.19% | −0.54 |
| J Jacobs Solutions Inc. | Sold out | 0.00% | −0.53 |
| AJG Arthur J Gallagher & Co. | Reduce -99.0% | 0.02% | −0.51 |
| V Visa Inc. Class A | Reduce -95.0% | 0.20% | −0.51 |
| ABT Abbott Laboratories | Reduce -98.0% | 0.06% | −0.50 |
| VEA Vanguard Ftse Developed ETF | Reduce -99.7% | 0.01% | −0.49 |
| AON Aon PLC Class A | Reduce -99.0% | 0.03% | −0.47 |
| JMBS Janus Henderson Mortg Backed | Sold out | 0.00% | −0.46 |
| ZBRA Zebra Technologies Corp. Class A | Sold out | 0.00% | −0.46 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.46 |
| DGRW Wisdomtree U.S. Quality Divi | Sold out | 0.00% | −0.45 |
| OEF iShares S&P 100 ETF | Reduce -98.7% | 0.04% | −0.43 |
| ALC Alcon Inc. | Sold out | 0.00% | −0.42 |
| VMBS Vanguard Mortgage-Backed Sec | Sold out | 0.00% | −0.42 |
| RTX RTX Corp. | Reduce -97.3% | 0.08% | −0.41 |
| PCAR Paccar Inc. | Reduce -97.2% | 0.08% | −0.40 |
| PEP Pepsico Inc. | Reduce -96.5% | 0.10% | −0.37 |
| IVW iShares S&P 500 Growth ETF | Reduce -98.0% | 0.05% | −0.37 |
| VOO Vanguard S&P 500 ETF | Reduce -97.0% | 0.07% | −0.36 |
| PH Parker Hannifin Corp. | Reduce -92.1% | 0.36% | −0.33 |
| BLDR Builders Firstsource Inc. | Sold out | 0.00% | −0.32 |
| PNC PNC Financial Services Group | Reduce -98.5% | 0.03% | −0.31 |
| WAT Waters Corp. | Sold out | 0.00% | −0.31 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.30 |
| KMX Carmax Inc. | Sold out | 0.00% | −0.29 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −0.28 |
| DFIV Dimensional International Va | Sold out | 0.00% | −0.28 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.28 |
| DHR Danaher Corp. | Reduce -98.5% | 0.03% | −0.27 |
Portfolio Buys Q3 2025 → Q4 2025
| MBB iShares MBS ETF | Add +0.4% | 1.36% | +1.12 |
| GM General Motors Co. | Add +45.1% | 1.06% | +0.96 |
| IBTH iShares Ibonds Dec 2027 Term | Add +71.3% | 0.97% | +0.87 |
| VRTX Vertex Pharmaceuticals Inc. | Add +22.1% | 0.99% | +0.86 |
| GD General Dynamics Corp. | Add +209.0% | 0.90% | +0.85 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +13770.3% | 0.73% | +0.73 |
| EZU iShares MSCI Eurozone ETF | Add +109.5% | 0.57% | +0.52 |
| EQT Eqt Corp. | Add +3.6% | 0.60% | +0.50 |
| VCIT Vanguard Int-Term Corporate | Add +765.7% | 0.45% | +0.44 |
| CL Colgate-Palmolive Co. | Add +447.1% | 0.32% | +0.31 |
| TIP iShares Tips Bond ETF | Add +33.0% | 0.35% | +0.30 |
| COR Cencora Inc. | Add +728.5% | 0.25% | +0.25 |
| TLH iShares 10-20 Year Treasury | Add +70.2% | 0.22% | +0.20 |
| TLT iShares 20+ Year Treasury BD | Add +9.2% | 0.23% | +0.19 |
| GII State Street SPDR S&P Global | Add +1428.6% | 0.18% | +0.18 |
| CLOA iShares Aaa Clo Act ETF-Usdi | Add +3.8% | 0.20% | +0.17 |
| FHLC Fidelity MSCI Health Care | Add +62.2% | 0.19% | +0.17 |
| VWOB Vanguard Emerg MKTS Gov BND | New | 0.17% | +0.17 |
| STIP iShares 0-5 Year Tips Bond E | Add +51.0% | 0.18% | +0.16 |
| FCOM Fidelity MSCI Comm Serv Indx | Add +17.0% | 0.17% | +0.15 |
| CTSH Cognizant Tech Solutions-A | Add +7.4% | 0.16% | +0.13 |
| CWB SS SPDR BB Conv Sec ETF | Add +74.6% | 0.14% | +0.12 |
| DPZ Domino's Pizza Inc. | Add +819.8% | 0.12% | +0.11 |
| ONON On Holding AG Class A | Add +1.2% | 0.14% | +0.11 |
| VLTO Veralto Corp. | Add +642.9% | 0.12% | +0.11 |
| FMAT Fidelity MSCI Materials Indx | Add +83.4% | 0.11% | +0.10 |
| IGLB iShares 10+ Year Inv GR Corp. | Add +2.7% | 0.12% | +0.10 |
| GBTC Grayscale Bitcoin Trust ETF | Add +178.0% | 0.10% | +0.09 |
| REM iShares Mortgage Real Estate | New | 0.08% | +0.08 |
| FTNT Fortinet Inc. | Add +134.5% | 0.09% | +0.08 |
| CCI Crown Castle Inc. | Add +5.7% | 0.09% | +0.08 |
| EL Estee Lauder Companies Class A | Add +8.4% | 0.09% | +0.07 |
| TTWO Take-Two Interactive Softwre | Add +371.4% | 0.07% | +0.07 |
| SOFI Sofi Technologies Inc. | Add +158.7% | 0.07% | +0.07 |
| ODFL Old Dominion Freight Line | Add +251.2% | 0.07% | +0.06 |
| EUHY iShares Euro High Yield Corp. | Add +4.2% | 0.08% | +0.06 |
| BKLN Invesco Senior Loan ETF | Add +5.0% | 0.07% | +0.06 |
| STZ Constellation Brands Inc. Class A | Add +682.6% | 0.06% | +0.05 |
| IBMO iShares Ibonds Dec 2026 Term | Add +0.4% | 0.06% | +0.05 |
| IBMP iShares Ibonds Dec 2027 Term | Add +0.4% | 0.06% | +0.05 |
| AEE Ameren Corporation | New | 0.05% | +0.05 |
| OGE Oge Energy Corp. | New | 0.05% | +0.05 |
| NFG National Fuel Gas Co. | New | 0.04% | +0.04 |
| BE Bloom Energy Corp. Class A | New | 0.04% | +0.04 |
| ZS Zscaler Inc. | Add +618.0% | 0.03% | +0.03 |
| KGC Kinross Gold Corp. | New | 0.03% | +0.03 |
| SHEL Shell PLC-ADR | Add +34.2% | 0.03% | +0.03 |
| VOD Vodafone Group PLC-SP ADR | Add +1.0% | 0.03% | +0.03 |
| VIPS Vipshop Holdings Ltd. - ADR | Add +5.0% | 0.03% | +0.03 |
| PDD PDD Holdings Inc. | New | 0.02% | +0.02 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 603,180 | $5.3Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Sold out | 8,991 | $1.6Mbefore exit |
| RKLB Rocket Lab Corp. | call | Sold out | 9,000 | $343Kbefore exit |
| AAPL Apple Inc. | put | Sold out | 43,100 | $192Kbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 10,000 | $80Kbefore exit |
| AMGN Amgen Inc. | put | Sold out | 13,600 | $63Kbefore exit |
| RITM Rithm Capital Corp. | put | Sold out | 88,000 | $11Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | Sold out | 1,217,502 | $30.4Mbefore exit |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Sold out | 2,070 | $2.6Mbefore exit |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Sold out | 180 | $230Kbefore exit |
| TNONW Tenon Medical Inc.-28 | *W EXP 06/16/202 | Sold out | 62,638 | $93Kbefore exit |
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 | 478 | $4.5B | AAPL, SPY, NVDA, IVV, MSFT |
| Q1 2026 | 484 | $4.3B | SPY, AAPL, NVDA, MSFT, IVV |
| Q4 2025 | 471 | $4.5B | SPY, AAPL, MSFT, IVV, NVDA |
| Q3 2025 | 1,383 | $25.6B | EQTY, MSFT, AAPL, POWL, AMZN |
| Q2 2025 | 1,341 | $23.4B | EQTY, MSFT, AAPL, AMZN, SPY |
| Q1 2025Amended | 1,228 | $19.9B | EQTY, AAPL, MSFT, AMZN, SPY |
| Q4 2024Amended | 1,211 | $20.4B | EQTY, AAPL, AMZN, MSFT, SPY |
| Q3 2024 | 1,050 | $14.2B | EQTY, AAPL, SPY, AMZN, MSFT |
| Q2 2024 | 814 | $11.7B | EQTY, AAPL, SPY, AMZN, MSFT |
| Q1 2024 | 654 | $7.9B | EQTY, AMZN, META, BRK.B, AAPL |