Oarsman Capital, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 21, 2025), Oarsman Capital, Inc. reported 247 stock positions worth $712.9 million. Its top holding was iShares Core U.S. Aggregate (AGG) at 9.6% of the portfolio, followed by SS SPDR P S&P 500 Growth ETF (SPYG, 7.4%) and Schwab Intl Equity ETF (SCHF, 7.0%). Compared with Q2 2025, it opened 21 new positions, sold out of 23, added to 89 and reduced 107. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +1531%) and the biggest sale an exit from Ishr CR Unvrse Usd BD ETF-Ui (IUSB).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001569667
- Portfolio Value
- $712.9M (Q3 2025)
- SEC Filing
- 0001569667-25-000013 ↗ filed Nov 21, 2025
Holdings Value
Holdings 247 stocks · $712.9M
| AGG iShares Core U.S. Aggregate | 9.59% | 682,039 | $68.4M | Add +1531.0% |
| SPYG SS SPDR P S&P 500 Growth ETF | 7.39% | 504,155 | $52.7M | Add +6.1% |
| SCHF Schwab Intl Equity ETF | 7.04% | 2,154,586 | $50.2M | Add +14.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 6.80% | 259,846 | $48.5M | Add +2.6% |
| RSP Invesco S&P 500 Equal Weight | 5.32% | 199,917 | $37.9M | Add +8.0% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 3.52% | 438,325 | $25.1M | Add +114.4% |
| GVI iShares Intermediate Governm | 3.31% | 219,518 | $23.6M | Reduce -32.0% |
| SPSM SS SPDR P S&P 600 Small Cap | 3.03% | 466,303 | $21.6M | Add +8.1% |
| IVV iShares Core S&P 500 ETF | 2.43% | 25,931 | $17.4M | Reduce -10.6% |
| GOOG Alphabet Inc. Class C | 2.41% | 70,473 | $17.2M | Reduce -1.1% |
| MSFT Microsoft Corp. | 2.07% | 28,473 | $14.7M | Add +1.4% |
| EMXC iShares MSCI Emr MRK Ex Chna | 1.84% | 194,831 | $13.2M | Add +3.3% |
| NVDA Nvidia Corp. | 1.72% | 65,697 | $12.3M | Reduce -0.9% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.69% | 154,040 | $12.1M | Add +5.7% |
| JPST JPMorgan Ultra-Short Income | 1.64% | 230,287 | $11.7M | Reduce -9.3% |
| AAPL Apple Inc. | 1.58% | 44,340 | $11.3M | Add +5.5% |
| IWF iShares Russell 1000 Growth | 1.04% | 15,872 | $7.4M | Reduce -14.9% |
| AVGO Broadcom Inc. | 1.02% | 22,126 | $7.3M | Reduce -4.1% |
| AAAU Goldman Sachs Physical Gold | 0.97% | 181,729 | $6.9M | Reduce -0.4% |
| FISV Fiserv Inc. | 0.89% | 49,132 | $6.3M | Add +7.4% |
| AMZN Amazon.com Inc. | 0.85% | 27,702 | $6.1M | Add +9.6% |
| META Meta Platforms Inc. Class A | 0.76% | 7,332 | $5.4M | Add +24.6% |
| GOOGL Alphabet Inc. Class A | 0.69% | 20,096 | $4.9M | Reduce -1.2% |
| APH Amphenol Corp. Class A | 0.65% | 37,364 | $4.6M | Add +4.6% |
| RSPG Invesco S&P 500 Equal Weight | 0.62% | 55,294 | $4.4M | Reduce -4.8% |
| WMT Walmart Inc. | 0.60% | 41,752 | $4.3M | Add +1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.60% | 8,463 | $4.3M | Add +0.6% |
| ABBV Abbvie Inc. | 0.59% | 18,231 | $4.2M | Add +2.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.58% | 28,822 | $4.2M | Add +27.1% |
| C Citigroup Inc. | 0.58% | 40,985 | $4.2M | Add +0.1% |
| GS Goldman Sachs Group Inc. | 0.58% | 5,206 | $4.1M | Reduce -4.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.54% | 13,615 | $3.8M | Add +2.4% |
| PDBC Invesco Optimum Yield Divers | 0.53% | 282,386 | $3.8M | Reduce -2.4% |
| JPRE JPMorgan Realty Income ETF | 0.53% | 78,341 | $3.8M | Add +21.6% |
| CAT Caterpillar Inc. | 0.51% | 7,599 | $3.6M | Reduce -0.1% |
| JNJ Johnson & Johnson | 0.48% | 18,520 | $3.4M | Add +4.8% |
| WFC Wells Fargo & Co. | 0.48% | 40,651 | $3.4M | Add +1.6% |
| SCHZ Schwab US Aggregate Bond ETF | 0.47% | 143,502 | $3.4M | Reduce -5.1% |
| ORLY O'reilly Automotive Inc. | 0.47% | 30,926 | $3.3M | Add +24.2% |
| MDT Medtronic PLC | 0.45% | 33,537 | $3.2M | Add +2.2% |
| PH Parker Hannifin Corp. | 0.42% | 3,969 | $3.0M | Add +4.4% |
| JCI Johnson Controls Internation | 0.41% | 26,880 | $3.0M | Add +5.1% |
| KR Kroger Co. | 0.41% | 43,348 | $2.9M | Add +4.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.40% | 4,301 | $2.9M | Reduce -4.7% |
| LDOS Leidos Holdings Inc. | 0.39% | 14,805 | $2.8M | Add +3.9% |
| JPM JPMorgan Chase & Co. | 0.39% | 8,736 | $2.8M | Reduce -0.2% |
| HPE Hewlett Packard Enterprise | 0.36% | 103,572 | $2.5M | New |
| IXUS iShares Core Intl Stock ETF | 0.35% | 30,324 | $2.5M | Reduce -0.4% |
| VEA Vanguard Ftse Developed ETF | 0.35% | 41,454 | $2.5M | Reduce -0.3% |
| ORCL Oracle Corp. | 0.34% | 8,688 | $2.4M | Reduce -1.5% |
| IWD iShares Russell 1000 Value E | 0.33% | 11,725 | $2.4M | Reduce -21.3% |
| CMI Cummins Inc. | 0.33% | 5,600 | $2.4M | Add +4.6% |
| CSCO Cisco Systems Inc. | 0.33% | 34,513 | $2.4M | Add +5.5% |
| BUG Global X Cybersecurity ETF | 0.33% | 66,740 | $2.3M | Add +1.8% |
| GLD SPDR Gold Shares | 0.33% | 6,571 | $2.3M | Reduce -1.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.33% | 20,300 | $2.3M | Add +54.9% |
| TYL Tyler Technologies Inc. | 0.32% | 4,334 | $2.3M | Add +1.1% |
| TSLA Tesla Inc. | 0.31% | 4,986 | $2.2M | Add +52.1% |
| QCOM Qualcomm Inc. | 0.31% | 13,308 | $2.2M | Add +2.0% |
| IJS iShares S&P Small-Cap 600 Va | 0.30% | 19,434 | $2.1M | Reduce -3.3% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.30% | 2,213 | $2.1M | Add +4.4% |
| FCX Freeport-McMoran Inc. | 0.29% | 52,211 | $2.0M | Add +4.8% |
| DFAS Dimensional US Small Cap ETF | 0.28% | 28,960 | $2.0M | Reduce -9.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.27% | 25,461 | $2.0M | Add +9.1% |
| MLPX Global X MLP & Energy Infras | 0.27% | 31,048 | $1.9M | Add +6.0% |
| RJF Raymond James Financial Inc. | 0.27% | 11,227 | $1.9M | Add +0.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.27% | 37,185 | $1.9M | Add +1.8% |
| HBAN Huntington Bancshares Inc. | 0.26% | 107,274 | $1.9M | Add +1.4% |
| VRTX Vertex Pharmaceuticals Inc. | 0.26% | 4,716 | $1.8M | Add +7.5% |
| IAUM iShares Gold Trust Micro | 0.26% | 47,745 | $1.8M | Reduce -1.0% |
| UBER Uber Technologies Inc. | 0.26% | 18,630 | $1.8M | Add +1.4% |
| IJT iShares S&P Small-Cap 600 GR | 0.25% | 12,646 | $1.8M | Reduce -8.0% |
| PEP Pepsico Inc. | 0.24% | 12,432 | $1.7M | Add +0.6% |
| BMY Bristol-Myers Squibb Co. | 0.24% | 37,774 | $1.7M | Reduce -4.8% |
| VOO Vanguard S&P 500 ETF | 0.23% | 2,666 | $1.6M | Reduce -0.0% |
| MTG Mgic Investment Corp. | 0.23% | 57,443 | $1.6M | Reduce -1.5% |
| UNH Unitedhealth Group Inc. | 0.22% | 4,492 | $1.6M | Reduce -6.5% |
| OBDC Blue Owl Capital Corp. | 0.21% | 119,965 | $1.5M | Reduce -4.7% |
| LLY Eli Lilly & Co. | 0.21% | 1,957 | $1.5M | Add +3.6% |
| SCHC Schwab Intl Small-Cap Equity | 0.21% | 32,423 | $1.5M | Add +11.2% |
| COST Costco Wholesale Corp. | 0.20% | 1,517 | $1.4M | Add +7.6% |
| INTU Intuit Inc. | 0.19% | 2,031 | $1.4M | Add +1.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.19% | 4,187 | $1.4M | Reduce -29.1% |
| ADBE Adobe Inc. | 0.19% | 3,789 | $1.3M | Reduce -17.1% |
| OLN Olin Corp. | 0.17% | 49,460 | $1.2M | Reduce -8.7% |
| OI O-I Glass Inc. | 0.17% | 91,158 | $1.2M | Reduce -30.1% |
| MUB iShares National Muni Bond E | 0.16% | 10,781 | $1.1M | Reduce -2.0% |
| SCHB Schwab US Broad Market ETF | 0.16% | 44,438 | $1.1M | Add +7.9% |
| IWP iShares Russell Mid-Cap Grow | 0.15% | 7,683 | $1.1M | Reduce -0.8% |
| RPM RPM International Inc. | 0.15% | 9,100 | $1.1M | Reduce -2.8% |
| AXON Axon Enterprise Inc. | 0.14% | 1,404 | $1.0M | Reduce -4.8% |
| MUA BlackRock Muniassets Fund | 0.14% | 89,475 | $993K | Add +29.9% |
| XRNPX Cohen & Steers REIT and Pref | 0.13% | 42,350 | $952K | No change |
| MCD McDonald's Corp. | 0.13% | 3,132 | $952K | Add +12.3% |
| PG The Procter & Gamble Co. | 0.13% | 6,159 | $946K | Add +2.9% |
| OMC Omnicom Group | 0.13% | 11,400 | $929K | Reduce -2.2% |
| IJH iShares Core S&P Midcap ETF | 0.13% | 13,828 | $902K | Reduce -22.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.13% | 1,503 | $902K | Reduce -0.9% |
| CTRA Coterra Energy Inc. | 0.12% | 35,796 | $847K | Add +8.5% |
| DWM Wisdomtree International Equ | 0.12% | 12,757 | $845K | Reduce -3.0% |
Options reported separately and not counted above: GOOG puts ($244K), TSLA calls ($178K).
Portfolio Sells Q2 2025 → Q3 2025
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Sold out | 0.00% | −6.54 |
| GVI iShares Intermediate Governm | Reduce -32.0% | 3.31% | −2.10 |
| IVV iShares Core S&P 500 ETF | Reduce -10.6% | 2.43% | −0.39 |
| JPST JPMorgan Ultra-Short Income | Reduce -9.3% | 1.64% | −0.38 |
| JCPB JPMorgan Core Plus Bond ETF | Sold out | 0.00% | −0.34 |
| MBB iShares MBS ETF | Reduce -80.6% | 0.07% | −0.32 |
| IWF iShares Russell 1000 Growth | Reduce -14.9% | 1.04% | −0.20 |
| ISTB iShares Core 1-5 Year Usd Bo | Sold out | 0.00% | −0.16 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.16 |
| IEI iShares 3-7 Year Treasury Bo | Sold out | 0.00% | −0.15 |
| OI O-I Glass Inc. | Reduce -30.1% | 0.17% | −0.14 |
| IWD iShares Russell 1000 Value E | Reduce -21.3% | 0.33% | −0.12 |
| ADBE Adobe Inc. | Reduce -17.1% | 0.19% | −0.09 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -29.1% | 0.19% | −0.09 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -48.4% | 0.08% | −0.08 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -5.1% | 0.47% | −0.08 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.08 |
| OBDC Blue Owl Capital Corp. | Reduce -4.7% | 0.21% | −0.07 |
| RSPG Invesco S&P 500 Equal Weight | Reduce -4.8% | 0.62% | −0.06 |
| PDBC Invesco Optimum Yield Divers | Reduce -2.4% | 0.53% | −0.06 |
| UPS United Parcel Service Class B | Reduce -12.3% | 0.11% | −0.06 |
| BND Vanguard Total Bond Market | Sold out | 0.00% | −0.05 |
| AXON Axon Enterprise Inc. | Reduce -4.8% | 0.14% | −0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -4.8% | 0.24% | −0.05 |
| IJH iShares Core S&P Midcap ETF | Reduce -22.1% | 0.13% | −0.05 |
| AXP American Express Co. | Sold out | 0.00% | −0.04 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.04 |
| DFAS Dimensional US Small Cap ETF | Reduce -9.8% | 0.28% | −0.04 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.04 |
| EWJ iShares MSCI Japan ETF | Sold out | 0.00% | −0.04 |
| UL Unilever PLC | Sold out | 0.00% | −0.04 |
| IJT iShares S&P Small-Cap 600 GR | Reduce -8.0% | 0.25% | −0.04 |
| IT Gartner Inc. | Sold out | 0.00% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.7% | 0.40% | −0.04 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −0.04 |
| BAX Baxter International Inc. | Sold out | 0.00% | −0.03 |
| DG Dollar General Corp. | Sold out | 0.00% | −0.03 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.03 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.03 |
| BMO Bank of Montreal | Sold out | 0.00% | −0.03 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.03 |
| ACN Accenture PLC Class A | Reduce -3.0% | 0.08% | −0.03 |
| WSO Watsco Inc. | Sold out | 0.00% | −0.03 |
| CPRT Copart Inc. | Reduce -10.1% | 0.07% | −0.03 |
| MTG Mgic Investment Corp. | Reduce -1.5% | 0.23% | −0.03 |
| TDG Transdigm Group Inc. | Reduce -12.8% | 0.05% | −0.02 |
| DEM Wisdomtree Emerging Markets | Reduce -39.1% | 0.03% | −0.02 |
| VEA Vanguard Ftse Developed ETF | Reduce -0.3% | 0.35% | −0.02 |
| GS Goldman Sachs Group Inc. | Reduce -4.3% | 0.58% | −0.02 |
| MUB iShares National Muni Bond E | Reduce -2.0% | 0.16% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AGG iShares Core U.S. Aggregate | Add +1531.0% | 9.59% | +8.94 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +114.4% | 3.52% | +1.77 |
| SCHF Schwab Intl Equity ETF | Add +14.9% | 7.04% | +0.54 |
| HPE Hewlett Packard Enterprise | New | 0.36% | +0.36 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +6.1% | 7.39% | +0.29 |
| AAPL Apple Inc. | Add +5.5% | 1.58% | +0.23 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +8.1% | 3.03% | +0.15 |
| TSLA Tesla Inc. | Add +52.1% | 0.31% | +0.15 |
| TJX TJX Companies Inc. | Add +27.1% | 0.58% | +0.15 |
| ORLY O'reilly Automotive Inc. | Add +24.2% | 0.47% | +0.12 |
| APH Amphenol Corp. Class A | Add +4.6% | 0.65% | +0.10 |
| ABBV Abbvie Inc. | Add +2.9% | 0.59% | +0.08 |
| META Meta Platforms Inc. Class A | Add +24.6% | 0.76% | +0.07 |
| DIS The Walt Disney Co. | Add +54.9% | 0.33% | +0.07 |
| JNJ Johnson & Johnson | Add +4.8% | 0.48% | +0.06 |
| CMI Cummins Inc. | Add +4.6% | 0.33% | +0.06 |
| HSY The Hershey Co. | New | 0.05% | +0.05 |
| JPRE JPMorgan Realty Income ETF | Add +21.6% | 0.53% | +0.05 |
| RSP Invesco S&P 500 Equal Weight | Add +8.0% | 5.32% | +0.04 |
| LDOS Leidos Holdings Inc. | Add +3.9% | 0.39% | +0.04 |
| NOBL Proshares S&P 500 Dividend A | New | 0.04% | +0.04 |
| C Citigroup Inc. | Add +0.1% | 0.58% | +0.04 |
| NET Cloudflare Inc. Class A | New | 0.04% | +0.04 |
| JEPI JPMorgan Equity Premium Inco | New | 0.03% | +0.03 |
| ET Energy Transfer LP | New | 0.03% | +0.03 |
| GNRC Generac Holdings Inc. | New | 0.03% | +0.03 |
| LHX L3HARRIS Technologies Inc. | New | 0.03% | +0.03 |
| IWO iShares Russell 2000 Growth | New | 0.03% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.03% | +0.03 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +5.7% | 1.69% | +0.03 |
| GEV GE Vernova Inc. | New | 0.03% | +0.03 |
| XC Wisdomtree True Emerging Mar | New | 0.03% | +0.03 |
| SPGI S&P Global Inc. | New | 0.03% | +0.03 |
| IWB iShares Russell 1000 ETF | New | 0.03% | +0.03 |
| ESGU iShares ESG Aware MSCI USA | New | 0.03% | +0.03 |
| MDY State Street SPDR S&P Midcap | New | 0.03% | +0.03 |
| SE Sea Ltd.-ADR | New | 0.03% | +0.03 |
| VLTO Veralto Corp. | New | 0.03% | +0.03 |
| ETN Eaton Corp. PLC | New | 0.03% | +0.03 |
| MUA BlackRock Muniassets Fund | Add +29.9% | 0.14% | +0.03 |
| IBIT iShares Bitcoin Trust ETF | Add +31.6% | 0.12% | +0.02 |
| UAL United Airlines Holdings Inc. | Add +29.1% | 0.08% | +0.02 |
| F Ford Motor Co. | New | 0.02% | +0.02 |
| PTEN Patterson-Uti Energy Inc. | New | 0.02% | +0.02 |
| AZN Astrazeneca PLC-Spons ADR | Add +9.1% | 0.27% | +0.02 |
| SCHC Schwab Intl Small-Cap Equity | Add +11.2% | 0.21% | +0.01 |
| GE General Electric | Add +24.7% | 0.05% | +0.01 |
| IUSG iShares Core S&P U.S. Growth | Add +17.1% | 0.09% | +0.01 |
| HD Home Depot Inc. | Add +14.8% | 0.09% | +0.01 |
| BA The Boeing Co. | Add +34.0% | 0.05% | +0.01 |
Options Activity Q2 2025 → Q3 2025
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 | 244 | $944.8M | AGG, SCHF, VTV, SPYG, SPMD |
| Q1 2026 | 235 | $805.3M | AGG, SCHF, VTV, SPYG, SPMD |
| Q4 2025 | 239 | $769.6M | AGG, SCHF, SPYG, VTV, RSP |
| Q3 2025 | 247 | $712.9M | AGG, SPYG, SCHF, VTV, RSP |
| Q2 2025 | 249 | $637.7M | SPYG, VTV, IUSB, SCHF, GVI |
| Q1 2025 | 233 | $556.6M | VTV, SPYG, SCHF, GVI, IUSB |
| Q4 2024 | 898 | $573.2M | SPYG, VTV, SCHF, IUSB, GVI |
| Q3 2024 | 903 | $540.5M | SPYG, VTV, SCHF, GVI, IUSB |
| Q2 2024 | 230 | $454.0M | SPYG, VTV, GVI, SCHF, IUSB |
| Q1 2024 | 234 | $418.6M | SPYG, VTV, GVI, JPST, SCHF |