Orion Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Orion Capital Management LLC reported 486 stock positions worth $296.3 million. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 12.1% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 8.5%) and Janus Henderson Aaa Clo ETF (JAAA, 7.3%). Compared with Q3 2025, it opened 22 new positions, sold out of 77, added to 89 and reduced 113. The biggest buy was Janus Henderson Aaa Clo ETF (JAAA, shares +23%) and the biggest sale Microsoft (MSFT, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- CORONADO, CA
- CIK
- 0001846758
- Portfolio Value
- $296.3M (Q4 2025)
- SEC Filing
- 0001846758-26-000001 ↗ filed Feb 3, 2026
Holdings Value
Holdings 486 stocks · $296.3M
| SGOV iShares 0-3 Month Treasury B | 12.14% | 358,473 | $36.0M | Add +2.4% |
| IVV iShares Core S&P 500 ETF | 8.51% | 36,815 | $25.2M | Add +2.7% |
| JAAA Janus Henderson Aaa Clo ETF | 7.31% | 428,135 | $21.7M | Add +23.2% |
| AVUS Avantis U.S. Equity ETF | 4.83% | 127,912 | $14.3M | Add +0.4% |
| AAPL Apple Inc. | 4.13% | 44,992 | $12.2M | Reduce -2.5% |
| DSTL Distillate US Fundamental St | 3.60% | 180,879 | $10.7M | Add +2.4% |
| VIG Vanguard Dividend Apprec ETF | 3.15% | 42,410 | $9.3M | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 2.41% | 22,793 | $7.2M | Reduce -4.0% |
| AMZN Amazon.com Inc. | 2.22% | 28,549 | $6.6M | Reduce -2.0% |
| MSFT Microsoft Corp. | 1.77% | 10,861 | $5.3M | Reduce -4.3% |
| ISRG Intuitive Surgical Inc. | 1.75% | 9,134 | $5.2M | Reduce -3.2% |
| RSP Invesco S&P 500 Equal Weight | 1.74% | 26,938 | $5.2M | Reduce -0.1% |
| AVUV Avantis US Small Cap Value | 1.56% | 45,341 | $4.6M | Reduce -3.3% |
| AVDE Avantis International Equity | 1.51% | 54,368 | $4.5M | Add +6.7% |
| NVDA Nvidia Corp. | 1.39% | 22,034 | $4.1M | Reduce -3.4% |
| PLTR Palantir Technologies Inc. Class A | 1.31% | 21,804 | $3.9M | Add +0.1% |
| DFAC Dimensional US Core Equity 2 | 1.27% | 95,395 | $3.8M | Reduce -0.2% |
| VYM Vanguard High DVD Yield ETF | 1.24% | 25,522 | $3.7M | Reduce -1.2% |
| SCHD Schwab US DVD Equity ETF | 1.09% | 117,979 | $3.2M | Reduce -8.1% |
| AVLV Avantis US Large Cap Value | 0.94% | 36,729 | $2.8M | Add +3.5% |
| GOOGL Alphabet Inc. Class A | 0.93% | 8,806 | $2.8M | Reduce -0.2% |
| JPM JPMorgan Chase & Co. | 0.88% | 8,074 | $2.6M | Reduce -3.8% |
| ORLY O'reilly Automotive Inc. | 0.83% | 26,946 | $2.5M | No change |
| AVDV Avantis Intl S/C Value ETF | 0.71% | 22,521 | $2.1M | Add +5.5% |
| ABBV Abbvie Inc. | 0.70% | 9,060 | $2.1M | Add +0.1% |
| COST Costco Wholesale Corp. | 0.68% | 2,342 | $2.0M | Reduce -1.6% |
| IJH iShares Core S&P Midcap ETF | 0.64% | 28,830 | $1.9M | No change |
| QCOM Qualcomm Inc. | 0.62% | 10,813 | $1.8M | Reduce -1.4% |
| VEEV Veeva Systems Inc. Class A | 0.62% | 8,180 | $1.8M | Reduce -2.4% |
| PJAN Innovator U.S. Equity Power | 0.58% | 36,770 | $1.7M | Reduce -0.0% |
| VNQ Vanguard Real Estate ETF | 0.57% | 19,099 | $1.7M | Add +2.5% |
| LLY Eli Lilly & Co. | 0.53% | 1,466 | $1.6M | Reduce -8.8% |
| PAUG Innovator U.S. Equity Power | 0.51% | 35,255 | $1.5M | No change |
| XBAP Innovator US Eqy Accel 9 Buf | 0.50% | 38,401 | $1.5M | Reduce -0.9% |
| ETN Eaton Corp. PLC | 0.49% | 4,594 | $1.5M | Add +1.3% |
| MS Morgan Stanley | 0.46% | 7,660 | $1.4M | Reduce -0.7% |
| FSLR First Solar Inc. | 0.46% | 5,200 | $1.4M | Reduce -1.9% |
| V Visa Inc. Class A | 0.44% | 3,730 | $1.3M | Reduce -6.0% |
| AMD Advanced Micro Devices | 0.44% | 6,021 | $1.3M | Reduce -3.6% |
| NFLX Netflix Inc. | 0.41% | 12,940 | $1.2M | Reduce -5.3% |
| POCT Innovator U.S. Equity Power | 0.41% | 27,415 | $1.2M | Add +11.8% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.40% | 2,967 | $1.2M | Reduce -5.5% |
| RTX RTX Corp. | 0.39% | 6,330 | $1.2M | Add +0.1% |
| FTNT Fortinet Inc. | 0.39% | 14,525 | $1.2M | Reduce -0.5% |
| SPSB SS SPDR P St C Corp. ETF | 0.39% | 37,946 | $1.1M | Add +3.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 19,934 | $1.1M | Reduce -2.0% |
| COF Capital One Financial Corp. | 0.36% | 4,460 | $1.1M | Add +7.7% |
| BLK BlackRock Inc. | 0.36% | 994 | $1.1M | Reduce -1.0% |
| JNJ Johnson & Johnson | 0.36% | 5,098 | $1.1M | Reduce -3.5% |
| BE Bloom Energy Corp. Class A | 0.35% | 12,083 | $1.0M | Add +0.7% |
| CRM Salesforce Inc. | 0.35% | 3,885 | $1.0M | Reduce -13.4% |
| DFSU Dimensional US Sus CORE1 ETF | 0.33% | 22,193 | $964K | Add +0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.32% | 3,169 | $939K | Reduce -0.8% |
| IJR iShares Core S&P Small-Cap E | 0.32% | 7,803 | $938K | Reduce -0.3% |
| PNOV Innovator U.S. Equity Power | 0.32% | 22,437 | $937K | Reduce -0.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.32% | 2,791 | $936K | Add +0.2% |
| PDEC Innovator U.S. Equity Power | 0.31% | 20,988 | $910K | Add +5.5% |
| AVIG Avantis Core Fixed Income | 0.30% | 21,428 | $898K | Add +442.2% |
| UBER Uber Technologies Inc. | 0.30% | 10,748 | $878K | Reduce -5.2% |
| PFEB Innovator U.S. Equity Power | 0.29% | 21,292 | $867K | No change |
| PJUL Innovator U.S. Equity Power | 0.29% | 18,581 | $863K | Reduce -0.1% |
| MRK Merck & Co. Inc. | 0.28% | 8,010 | $843K | Add +0.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.27% | 3,108 | $786K | Add +5.1% |
| VOO Vanguard S&P 500 ETF | 0.26% | 1,251 | $785K | Add +15.1% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.26% | 20,165 | $765K | Reduce -4.7% |
| AVEM Avantis Emerging Markets Eq | 0.26% | 9,836 | $758K | Add +2.0% |
| ANET Arista Networks Inc. | 0.24% | 5,538 | $726K | Add +21.5% |
| PMAR Innovator U.S. Equity Power | 0.24% | 15,665 | $704K | No change |
| AVSU Avantis Resp US Equity ETF | 0.24% | 9,156 | $699K | No change |
| EXPE Expedia Group Inc. | 0.23% | 2,425 | $687K | Reduce -2.1% |
| AMGN Amgen Inc. | 0.23% | 2,063 | $675K | Reduce -2.0% |
| HD Home Depot Inc. | 0.23% | 1,957 | $673K | Reduce -8.1% |
| TMUS T-Mobile US Inc. | 0.23% | 3,300 | $670K | No change |
| ADBE Adobe Inc. | 0.22% | 1,890 | $661K | Reduce -13.7% |
| AVGO Broadcom Inc. | 0.21% | 1,763 | $610K | Add +34.1% |
| USB US Bancorp | 0.20% | 11,100 | $592K | Reduce -24.0% |
| PJUN Innovator U.S. Equity Power | 0.19% | 13,770 | $577K | Add +0.4% |
| PAPR Innovator U.S. Equity Power | 0.19% | 14,645 | $573K | Reduce -0.7% |
| RMD Resmed Inc. | 0.19% | 2,360 | $568K | Reduce -2.9% |
| BJAN Innovator U.S. Equity Buffer | 0.18% | 9,660 | $532K | No change |
| FOUR SHIFT4 Payments Inc. Class A | 0.18% | 8,395 | $529K | Reduce -22.2% |
| XBJL Inn US Eq Acc 9 Buff July | 0.17% | 12,907 | $494K | Add +0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.16% | 962 | $484K | Add +9.7% |
| ARLO Arlo Technologies Inc. | 0.16% | 34,260 | $479K | Reduce -2.0% |
| PMAY Innovator U.S. Equity Power | 0.16% | 12,099 | $479K | No change |
| IWF iShares Russell 1000 Growth | 0.16% | 1,012 | $479K | Add +0.2% |
| CME Cme Group Inc. | 0.16% | 1,697 | $463K | Add +1.2% |
| BA The Boeing Co. | 0.15% | 2,093 | $454K | Add +111.8% |
| WPC WP Carey Inc. | 0.15% | 7,000 | $451K | Reduce -34.5% |
| MCD McDonald's Corp. | 0.15% | 1,462 | $447K | Reduce -21.9% |
| DFUV Dimensional US Marketwide Va | 0.14% | 9,189 | $428K | Reduce -1.5% |
| ZETA Zeta Global Holdings Corp. Class A | 0.14% | 20,500 | $417K | No change |
| PM Philip Morris International | 0.14% | 2,601 | $417K | Reduce -0.8% |
| DELL Dell Technologies -C | 0.14% | 3,281 | $413K | Add +2.0% |
| JBBB Janus Henderson B-BBB Clo Et | 0.14% | 8,555 | $408K | Add +8.9% |
| CAT Caterpillar Inc. | 0.14% | 705 | $404K | No change |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.14% | 23,900 | $400K | Add +12.2% |
| PSEP Innovator U.S. Equity Power | 0.14% | 9,150 | $400K | Reduce -1.1% |
| BMAR Innovator U.S. Equity Buffer | 0.13% | 7,430 | $394K | No change |
| MRVL Marvell Technology Inc. | 0.13% | 4,600 | $391K | Add +2.2% |
Options reported separately and not counted above: NVIDIA CORPORATION calls ($280K), ALPHABET INC calls ($220K), APPLE INC calls ($190K), INTUITIVE SURGICAL INC calls ($113K), ASML HLDG NV calls ($107K), ADVANCED MICRO DEVICES INC calls ($62K), LAM RESEARCH CORP calls ($51K), PALO ALTO NETWORKS INC calls ($37K), BROADCOM INC calls ($35K), SOFI TECHNOLOGIES INC calls ($26K).
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -4.3% | 1.77% | −0.28 |
| VEEV Veeva Systems Inc. Class A | Reduce -2.4% | 0.62% | −0.25 |
| NFLX Netflix Inc. | Reduce -5.3% | 0.41% | −0.16 |
| SCHD Schwab US DVD Equity ETF | Reduce -8.1% | 1.09% | −0.13 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -22.2% | 0.18% | −0.11 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.9% | 3.15% | −0.10 |
| TTD Trade Desk Inc./the Class A | Reduce -4.7% | 0.26% | −0.10 |
| ARE Alexandria Real Estate Equit | Reduce -80.4% | 0.01% | −0.10 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -5.5% | 0.40% | −0.10 |
| WPC WP Carey Inc. | Reduce -34.5% | 0.15% | −0.10 |
| NVDA Nvidia Corp. | Reduce -3.4% | 1.39% | −0.10 |
| PINS Pinterest Inc. Class A | Reduce -39.1% | 0.09% | −0.09 |
| UBER Uber Technologies Inc. | Reduce -5.2% | 0.30% | −0.09 |
| COST Costco Wholesale Corp. | Reduce -1.6% | 0.68% | −0.09 |
| HON Honeywell International Inc. | Reduce -48.4% | 0.07% | −0.08 |
| HD Home Depot Inc. | Reduce -8.1% | 0.23% | −0.07 |
| OWL Blue Owl Capital Inc. | Reduce -65.7% | 0.03% | −0.07 |
| S Sentinelone Inc. Class A | Reduce -71.6% | 0.02% | −0.07 |
| VCR Vanguard Consumer Discre ETF | Reduce -83.3% | 0.01% | −0.07 |
| AVUV Avantis US Small Cap Value | Reduce -3.3% | 1.56% | −0.07 |
| MDY State Street SPDR S&P Midcap | Reduce -44.5% | 0.08% | −0.06 |
| BLK BlackRock Inc. | Reduce -1.0% | 0.36% | −0.05 |
| MCD McDonald's Corp. | Reduce -21.9% | 0.15% | −0.05 |
| USB US Bancorp | Reduce -24.0% | 0.20% | −0.05 |
| ADBE Adobe Inc. | Reduce -13.7% | 0.22% | −0.05 |
| JPM JPMorgan Chase & Co. | Reduce -3.8% | 0.88% | −0.04 |
| ARLO Arlo Technologies Inc. | Reduce -2.0% | 0.16% | −0.04 |
| RSP Invesco S&P 500 Equal Weight | Reduce -0.1% | 1.74% | −0.04 |
| QUAL iShares MSCI USA Quality Fac | Reduce -37.6% | 0.07% | −0.04 |
| RMD Resmed Inc. | Reduce -2.9% | 0.19% | −0.04 |
| FTNT Fortinet Inc. | Reduce -0.5% | 0.39% | −0.04 |
| VYM Vanguard High DVD Yield ETF | Reduce -1.2% | 1.24% | −0.03 |
| V Visa Inc. Class A | Reduce -6.0% | 0.44% | −0.03 |
| SRE Sempra | Reduce -91.7% | 0.00% | −0.03 |
| CRM Salesforce Inc. | Reduce -13.4% | 0.35% | −0.02 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -19.8% | 0.08% | −0.02 |
| SBUX Starbucks Corp. | Reduce -83.3% | 0.00% | −0.02 |
| GATX Gatx Corp. | Sold out | 0.00% | −0.02 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -9.1% | 0.09% | −0.02 |
| J Jacobs Solutions Inc. | Reduce -49.0% | 0.01% | −0.01 |
| BABA Alibaba Group Holding-SP ADR | Reduce -1.1% | 0.05% | −0.01 |
| BFEB Innovator U.S. Equity Buffer | Reduce -11.3% | 0.09% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -1.4% | 0.62% | −0.01 |
| EQH Equitable Holdings Inc. | Sold out | 0.00% | −0.01 |
| LMT Lockheed Martin Corp. | Reduce -2.3% | 0.12% | −0.01 |
| XBAP Innovator US Eqy Accel 9 Buf | Reduce -0.9% | 0.50% | −0.01 |
| DFAC Dimensional US Core Equity 2 | Reduce -0.2% | 1.27% | −0.01 |
| ABT Abbott Laboratories | Reduce -1.1% | 0.08% | −0.01 |
| AGG iShares Core U.S. Aggregate | Reduce -21.9% | 0.03% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -2.0% | 0.07% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| JAAA Janus Henderson Aaa Clo ETF | Add +23.2% | 7.31% | +1.16 |
| AVIG Avantis Core Fixed Income | Add +442.2% | 0.30% | +0.25 |
| IVV iShares Core S&P 500 ETF | Add +2.7% | 8.51% | +0.14 |
| AVDE Avantis International Equity | Add +6.7% | 1.51% | +0.11 |
| META Meta Platforms Inc. Class A | Add +3708.3% | 0.10% | +0.10 |
| NOW ServiceNow Inc. | New | 0.09% | +0.09 |
| BA The Boeing Co. | Add +111.8% | 0.15% | +0.08 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | New | 0.07% | +0.07 |
| COF Capital One Financial Corp. | Add +7.7% | 0.36% | +0.06 |
| AVGO Broadcom Inc. | Add +34.1% | 0.21% | +0.05 |
| AVDV Avantis Intl S/C Value ETF | Add +5.5% | 0.71% | +0.05 |
| MRK Merck & Co. Inc. | Add +0.3% | 0.28% | +0.05 |
| AVLV Avantis US Large Cap Value | Add +3.5% | 0.94% | +0.05 |
| POCT Innovator U.S. Equity Power | Add +11.8% | 0.41% | +0.04 |
| IAUM iShares Gold Trust Micro | New | 0.04% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +15.1% | 0.26% | +0.03 |
| AKRE Akre Focus ETF | New | 0.03% | +0.03 |
| DSTL Distillate US Fundamental St | Add +2.4% | 3.60% | +0.03 |
| RTX RTX Corp. | Add +0.1% | 0.39% | +0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +24.2% | 0.11% | +0.02 |
| MDT Medtronic PLC | New | 0.02% | +0.02 |
| LUMN Lumen Technologies Inc. | New | 0.02% | +0.02 |
| NULG Nuveen ESG LRG-Cap GRW ETF | Add +167.4% | 0.03% | +0.02 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +12.2% | 0.14% | +0.02 |
| PDEC Innovator U.S. Equity Power | Add +5.5% | 0.31% | +0.02 |
| NULV Nuveen ESG Large-Cap Val ETF | Add +191.7% | 0.02% | +0.01 |
| ANET Arista Networks Inc. | Add +21.5% | 0.24% | +0.01 |
| SCCO Southern Copper Corp. | Add +0.8% | 0.10% | +0.01 |
| PSMO Pacer Swan Sos Mod Oct ETF | New | 0.01% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | Add +83.1% | 0.05% | +0.01 |
| BANC Banc of California Inc. | New | 0.01% | +0.01 |
| NUDM Nuveen ESG Intl Devel MRK Eq | Add +162.0% | 0.02% | +0.01 |
| NEE Nextera Energy Inc. | Add +21.5% | 0.06% | +0.01 |
| QQQM Invesco Nasdaq 100 ETF | Add +5.1% | 0.27% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.7% | 0.16% | +0.01 |
| SOFI Sofi Technologies Inc. | Add +35.3% | 0.04% | +0.01 |
| FIG Figma Inc. Class A | New | 0.01% | +0.01 |
| VGSH Vanguard Short-Term Treasury | Add +196.7% | 0.01% | +0.01 |
| WFC Wells Fargo & Co. | Add +0.1% | 0.09% | +0.01 |
| JBBB Janus Henderson B-BBB Clo Et | Add +8.9% | 0.14% | +0.01 |
| IXN iShares Global Tech ETF | New | 0.01% | +0.01 |
| VDE Vanguard Energy ETF | New | 0.01% | +0.01 |
| SHLD Global X Defense Tech ETF | New | 0.00% | +0.00 |
| NUEM Nuveen ESG Emerging Markets | Add +151.6% | 0.01% | +0.00 |
| CRWV Coreweave Inc. Class A | New | 0.00% | +0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +103.7% | 0.01% | +0.00 |
| AVEM Avantis Emerging Markets Eq | Add +2.0% | 0.26% | +0.00 |
| GSAT Globalstar Inc. | Add +44.1% | 0.01% | +0.00 |
| SPYX SS SPDR S&P 500 Foss FL ETF | New | 0.00% | +0.00 |
| DFSI Dimensional Int Sus COR1 ETF | Add +1.0% | 0.10% | +0.00 |
Options Activity Q3 2025 → Q4 2025
| NVIDIA CORPORATION | call | Reduce -85.7% | 1,500 | $280K |
| ALPHABET INC | call | Add +133.3% | 700 | $220K |
| APPLE INC | call | Add +250.0% | 700 | $190K |
| NETFLIX INC. | call | Sold out | 100 | $120Kbefore exit |
| INTUITIVE SURGICAL INC | call | New | 200 | $113K |
| ASML HLDG NV | call | New | 100 | $107K |
| ASML HLDG NV CALL JUL 1900 | call | Sold out | 100 | $97Kbefore exit |
| ARISTA NETWORKS INC | call | Sold out | 500 | $73Kbefore exit |
| EATON CORP PLC | call | Sold out | 100 | $37Kbefore exit |
| BROADCOM INC | call | Reduce -50.0% | 100 | $35K |
| SOFI TECHNOLOGIES INC | call | New | 1,000 | $26K |
| FORTINET INC | call | Sold out | 200 | $17Kbefore 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 | 504 | $321.9M | IVV, JAAA, SGOV, AVUS, AAPL |
| Q1 2026 | 482 | $289.8M | SGOV, IVV, JAAA, AVUS, AAPL |
| Q4 2025 | 486 | $296.3M | SGOV, IVV, JAAA, AVUS, AAPL |
| Q3 2025 | 539 | $286.9M | SGOV, IVV, JAAA, AVUS, AAPL |
| Q2 2025 | 460 | $262.5M | SGOV, IVV, JAAA, AVUS, AAPL |
| Q1 2025 | 473 | $237.4M | SGOV, IVV, AAPL, AVUS, JAAA |
| Q4 2024 | 464 | $227.3M | SGOV, IVV, AAPL, AVUS, DSTL |
| Q3 2024 | 128 | $205.8M | SGOV, IVV, AAPL, AVUS, DSTL |
| Q2 2024 | 424 | $190.0M | SGOV, IVV, AAPL, VIG, AVUS |
| Q1 2024 | 496 | $187.7M | SGOV, IVV, AAPL, VIG, AVUS |