Oxbow Advisors, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Oxbow Advisors, LLC reported 206 stock positions worth $898.8 million. Its top holding was F/M US Treasury 3 Month Bill (TBIL) at 11.5% of the portfolio, followed by iShares Gold Trust (IAU, 6.6%) and Enterprise Products Partners (EPD, 4.6%). Compared with Q1 2025, it opened 13 new positions, sold out of 10, added to 77 and reduced 55. The biggest buy was Conocophillips (COP, shares +369%) and the biggest sale an exit from Vanguard Extended Dur Treas (EDV).

Most Recent 13F
Q2 2026
Location
Austin, TX
CIK
0001564770
Portfolio Value
$898.8M (Q2 2025)
SEC Filing
0001667731-25-000996 ↗ filed Jul 29, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $702.3M Q1 2024 Q2 2024: $826.3M Q2 2024 Q3 2024: $980.3M Q3 2024 Q4 2024: $827.5M Q4 2024 Q1 2025: $924.1M Q1 2025 Q2 2025: $898.8M $898.8M Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 206 stocks · $898.8M
TBIL F/M US Treasury 3 Month Bill 11.46% 2,060,435 $103.0M Reduce -20.1%
IAU iShares Gold Trust 6.57% 946,228 $59.0M Reduce -2.2%
EPD Enterprise Products Partners 4.63% 1,342,274 $41.6M Reduce -1.2%
MSFT Microsoft Corp. 4.57% 82,659 $41.1M Reduce -1.3%
AAPL Apple Inc. 3.01% 131,800 $27.0M Add +15.0%
GOOG Alphabet Inc. Class C 2.80% 141,941 $25.2M Add +0.1%
MPLX MPLX LP 2.31% 402,509 $20.7M Reduce -0.0%
AEM Agnico Eagle Mines Ltd. 2.27% 171,790 $20.4M Reduce -3.0%
MCO Moody's Corp. 1.80% 32,311 $16.2M Add +1.6%
RGLD Royal Gold Inc. 1.70% 86,097 $15.3M Reduce -26.3%
TFLO iShares Treasury Floating Ra 1.70% 301,759 $15.3M Add +1.3%
COP Conocophillips 1.64% 164,364 $14.8M Add +369.1%
MA Mastercard Inc. Class A 1.49% 23,905 $13.4M Add +1.6%
V Visa Inc. Class A 1.49% 37,690 $13.4M Add +18.6%
PAAS Pan American Silver Corp. 1.42% 449,985 $12.8M Add +34.3%
DSTL Distillate US Fundamental St 1.36% 220,693 $12.2M Add +0.0%
CVX Chevron Corp. 1.34% 83,976 $12.0M Add +633.4%
XOM Exxon Mobil Corp. 1.10% 91,358 $9.8M Add +0.8%
ADBE Adobe Inc. 0.99% 23,071 $8.9M Add +3.0%
ET Energy Transfer LP 0.99% 491,544 $8.9M Add +3.5%
AMLP Alerian MLP ETF 0.99% 181,556 $8.9M Add +11.3%
NOW ServiceNow Inc. 0.98% 8,611 $8.9M Add +2.8%
UL Unilever PLC 0.92% 135,606 $8.3M Add +1.3%
UGI Ugi Corp. 0.91% 225,132 $8.2M Add +0.5%
APA Apa Corp. 0.88% 430,639 $7.9M New
MCD McDonald's Corp. 0.82% 25,313 $7.4M Add +1.7%
RMD Resmed Inc. 0.78% 27,286 $7.0M Add +116.8%
NGD New Gold Inc. 0.78% 1,422,056 $7.0M Add +403.6%
MTDR Matador Resources Co. 0.76% 143,084 $6.8M New
JNJ Johnson & Johnson 0.76% 44,663 $6.8M Add +2.9%
CI The Cigna Group 0.74% 20,153 $6.7M Add +2.6%
KMB Kimberly-Clark Corp. 0.74% 51,544 $6.6M Add +3.4%
SLV iShares Silver Trust 0.73% 201,092 $6.6M Reduce -46.9%
LNC Lincoln National Corp. 0.73% 190,472 $6.6M New
TPYP Tortoise North American Pipe 0.73% 182,470 $6.5M Reduce -14.9%
EXPE Expedia Group Inc. 0.72% 38,300 $6.5M Add +1.9%
PAGP Plains GP Holdings LP 0.71% 329,794 $6.4M Add +1.0%
FRO Frontline PLC 0.71% 390,459 $6.4M New
MOS The Mosaic Co. 0.71% 175,449 $6.4M Reduce -16.6%
NOG Northern Oil and Gas Inc. 0.69% 217,931 $6.2M New
BKNG Booking Holdings Inc. 0.68% 1,063 $6.2M Add +2.0%
MAS Masco Corp. 0.68% 95,360 $6.1M Add +125.3%
NTR Nutrien Ltd. 0.68% 104,954 $6.1M Reduce -15.4%
LNG Cheniere Energy Inc. 0.68% 24,917 $6.1M Add +0.3%
MTD Mettler-Toledo International 0.67% 5,124 $6.0M Add +142.3%
ORLY O'reilly Automotive Inc. 0.67% 66,315 $6.0M Reduce -41.0%
LOW Lowe's Cos Inc. 0.64% 25,751 $5.7M Add +4.0%
EOG EOG Resources Inc. 0.62% 46,284 $5.5M Add +2.5%
KMI Kinder Morgan Inc. 0.61% 187,591 $5.5M Reduce -0.9%
GLD SPDR Gold Shares 0.59% 17,410 $5.3M Reduce -40.2%
WPM Wheaton Precious Metals Corp. 0.57% 57,201 $5.1M Add +0.0%
ELV Elevance Health Inc. 0.54% 12,506 $4.9M Add +5.1%
VALE Vale SA-SP ADR 0.54% 498,365 $4.8M Add +1.8%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.51% 14,424 $4.6M No change
ZTS Zoetis Inc. 0.50% 28,801 $4.5M Add +3.5%
RSP Invesco S&P 500 Equal Weight 0.49% 24,346 $4.4M Reduce -8.6%
GDX Vaneck Gold Miners ETF 0.49% 84,540 $4.4M No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.49% 134,847 $4.4M Reduce -0.4%
ABBV Abbvie Inc. 0.47% 22,987 $4.3M Add +227.4%
VRSN Verisign Inc. 0.47% 14,747 $4.3M Add +1.4%
TNK Teekay Tankers Ltd. Class A 0.45% 97,654 $4.1M New
ACGL Arch Capital Group Ltd. 0.45% 44,582 $4.1M Add +3.5%
MCK McKesson Corp. 0.44% 5,427 $4.0M Add +1.3%
SU Suncor Energy Inc. 0.44% 104,700 $3.9M Add +3.0%
RIO Rio Tinto PLC-Spon ADR 0.42% 63,988 $3.7M Add +2.2%
CTVA Corteva Inc. 0.41% 49,710 $3.7M Add +3.7%
BX Blackstone Inc. 0.41% 24,392 $3.6M Add +0.2%
NVS Novartis AG-Sponsored ADR 0.39% 28,619 $3.5M Add +3.5%
AEP American Electric Power 0.38% 33,116 $3.4M Add +3.6%
YUM Yum! Brands Inc. 0.37% 22,444 $3.3M Add +992.7%
EVRG Evergy Inc. 0.36% 47,066 $3.2M Add +3.8%
AMGN Amgen Inc. 0.35% 11,164 $3.1M Add +2.1%
OTIS Otis Worldwide Corp. 0.34% 30,532 $3.0M New
GIS General Mills Inc. 0.34% 58,239 $3.0M Add +4.2%
CAT Caterpillar Inc. 0.34% 7,768 $3.0M No change
WMB Williams Cos Inc. 0.33% 46,896 $2.9M Reduce -11.4%
MEDP Medpace Holdings Inc. 0.32% 9,188 $2.9M Add +3.6%
CL Colgate-Palmolive Co. 0.32% 31,719 $2.9M Add +4.6%
WMT Walmart Inc. 0.31% 28,660 $2.8M Reduce -1.6%
AVGO Broadcom Inc. 0.31% 10,125 $2.8M Reduce -5.5%
AZN Astrazeneca PLC-Spons ADR 0.31% 39,551 $2.8M Add +3.8%
LMT Lockheed Martin Corp. 0.31% 5,957 $2.8M Add +3.0%
EMO Clearbridge Energy Midstream 0.28% 51,805 $2.5M No change
QQQ Invesco QQQ Trust Series 1 0.26% 4,212 $2.3M Reduce -11.3%
VTI VG Morningstar TS MKT ETF-US 0.26% 7,630 $2.3M Add +1.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.26% 3,718 $2.3M Reduce -9.8%
COST Costco Wholesale Corp. 0.26% 2,319 $2.3M Reduce -1.3%
NVDA Nvidia Corp. 0.24% 13,688 $2.2M Add +6.2%
JPST JPMorgan Ultra-Short Income 0.23% 41,317 $2.1M Add +15.7%
PAA Plains All Amer Pipeline LP 0.23% 113,932 $2.1M Reduce -3.4%
VOO Vanguard S&P 500 ETF 0.23% 3,647 $2.1M No change
DVY iShares Select Dividend ETF 0.23% 15,392 $2.0M Reduce -3.2%
ADP Automatic Data Processing 0.21% 6,112 $1.9M No change
AMZN Amazon.com Inc. 0.21% 8,560 $1.9M Add +0.4%
WM Waste Management Inc. 0.21% 8,183 $1.9M No change
GDXJ Vaneck Junior Gold Miners 0.19% 25,408 $1.7M No change
PG The Procter & Gamble Co. 0.18% 10,241 $1.6M Add +0.4%
JXN Jackson Financial Inc. Class A 0.18% 18,068 $1.6M Reduce -6.8%
AGI Alamos Gold Inc. Class A 0.17% 58,474 $1.6M No change
GOOGL Alphabet Inc. Class A 0.17% 8,425 $1.5M Reduce -0.6%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.16% 3,920 $1.4M No change
BRK.B Berkshire Hathaway Inc. Class B 0.16% 2,933 $1.4M Reduce -3.5%
VTR Ventas Inc. 0.15% 21,850 $1.4M Add +0.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.15% 4,458 $1.3M Reduce -11.8%
PEP Pepsico Inc. 0.15% 9,944 $1.3M Add +1.7%
KR Kroger Co. 0.14% 17,614 $1.3M Add +0.0%
MSI Motorola Solutions Inc. 0.13% 2,805 $1.2M No change
ABT Abbott Laboratories 0.12% 8,125 $1.1M Reduce -6.0%
VB Vanguard Most SM-Cap ETF-Usd 0.12% 4,606 $1.1M Add +2.7%
PHYS Sprott Physical Gold Trust 0.11% 39,510 $1.0M Reduce -0.5%
PNFP Pinnacle Financial Partners 0.11% 8,750 $966K No change
AU Anglogold Ashanti PLC 0.11% 20,917 $953K Reduce -8.0%
GFI Gold Fields Ltd.-Spons ADR 0.10% 38,675 $915K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.10% 3,205 $897K No change
NFLX Netflix Inc. 0.10% 669 $896K Reduce -0.3%
OKE Oneok Inc. 0.10% 10,723 $875K Add +0.7%
HD Home Depot Inc. 0.10% 2,375 $871K Reduce -7.0%
DSMC Distillate S/M Cash Flow ETF 0.10% 26,494 $862K Add +9.6%
STEL Stellar Bancorp Inc. 0.09% 30,464 $852K No change
GBTC Grayscale Bitcoin Trust ETF 0.09% 10,000 $848K No change
B Barrick Mining Corp. 0.09% 37,356 $778K No change
SHY iShares 1-3 Year Treasury Bo 0.09% 9,337 $774K Add +99.1%
BRK.A Berkshire Hathaway Inc. Class A 0.08% 1 $729K No change
SYY Sysco Corp. 0.08% 9,600 $727K No change
MTG Mgic Investment Corp. 0.08% 25,000 $696K No change
IWV iShares Russell 3000 ETF 0.08% 1,929 $677K Reduce -8.4%
TRP TC Energy Corp. 0.07% 12,881 $628K Add +10.5%
RSG Republic Services Inc. 0.07% 2,381 $587K Reduce -31.1%
ORCL Oracle Corp. 0.06% 2,598 $568K Reduce -4.1%
SUN Sunoco LP 0.06% 10,595 $568K Add +32.4%
LLY Eli Lilly & Co. 0.06% 727 $566K Reduce -23.1%
AXP American Express Co. 0.06% 1,704 $544K Add +3.1%
VTES Vanguard SH Term Tax-Ex Bond 0.06% 5,357 $541K No change
VTS Vitesse Energy Inc. 0.06% 24,084 $532K No change
CSCO Cisco Systems Inc. 0.06% 7,654 $531K Add +8.0%
NVG Nuveen Amt-FR Muni CRDT 0.06% 43,535 $519K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 10,947 $518K Reduce -19.8%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.06% 490 $510K Reduce -15.5%
TPL Texas Pacific Land Corp. 0.06% 477 $504K No change
JPM JPMorgan Chase & Co. 0.05% 1,685 $489K Reduce -14.8%
FAX Abrdn Asia-Pacific Income 0.05% 30,509 $486K No change
CLX Clorox Company 0.05% 3,911 $470K Add +4.0%
EXE Expand Energy Corp. 0.05% 3,917 $458K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.05% 1,042 $457K Add +1.7%
SSRM SSR Mining Inc. 0.05% 35,230 $450K No change
META Meta Platforms Inc. Class A 0.05% 605 $447K Add +71.9%
MMM 3M Co. 0.05% 2,828 $431K No change
IWP iShares Russell Mid-Cap Grow 0.05% 3,080 $427K Reduce -6.2%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.05% 2,507 $412K Reduce -1.3%
PSLV Sprott Physical Silver Trust 0.05% 33,204 $406K Reduce -2.9%
GGN Gamco GLBL Gold NTRL Res Inc. 0.04% 91,750 $403K No change
CEF Sprott Physical Gold and Sil 0.04% 13,306 $401K Reduce -5.7%
STR Sitio Royalties Corp. Class A 0.04% 21,702 $399K Add +0.1%
SCHD Schwab US DVD Equity ETF 0.04% 15,005 $398K Add +21.6%
DFAC Dimensional US Core Equity 2 0.04% 10,907 $391K No change
HON Honeywell International Inc. 0.04% 1,599 $372K Reduce -0.4%
VONE Vanguard Russell 1000 0.04% 1,306 $367K No change
EQT Eqt Corp. 0.04% 6,258 $365K No change
DD Dupont DE Nemours Inc. 0.04% 5,269 $361K No change
MPC Marathon Petroleum Corp. 0.04% 2,172 $361K Add +0.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.04% 1,249 $356K No change
DUK Duke Energy Corp. 0.03% 2,649 $313K No change
NEM Newmont Corp. 0.03% 5,310 $309K Reduce -96.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.03% 2,458 $304K No change
KGC Kinross Gold Corp. 0.03% 19,315 $302K No change
PM Philip Morris International 0.03% 1,657 $302K Reduce -28.3%
LNT Alliant Energy Corp. 0.03% 4,916 $297K No change
OXY Occidental Petroleum Corp. 0.03% 7,045 $296K Add +33.8%
AG First Majestic Silver Corp. 0.03% 34,275 $283K No change
MELI MercadoLibre Inc. 0.03% 108 $282K No change
PGX Invesco Preferred ETF 0.03% 25,131 $280K Reduce -2.2%
SH Proshares Short S&P500 0.03% 7,047 $280K No change
PSA Public Storage 0.03% 943 $277K Reduce -4.5%
FCX Freeport-McMoran Inc. 0.03% 6,377 $276K No change
BTG B2GOLD Corp. 0.03% 76,485 $276K No change
XME SS SPDR S&P Metals Mining 0.03% 4,075 $274K No change
SBR Sabine Royalty Trust 0.03% 4,091 $272K No change
WEC WEC Energy Group Inc. 0.03% 2,553 $266K No change
COKE Coca-Cola Consolidated Inc. 0.03% 2,380 $266K No change
IVV iShares Core S&P 500 ETF 0.03% 426 $265K Reduce -0.9%
USHY iShares Broad Usd High Yield 0.03% 6,960 $261K New
SJNK SS SPDR BB St Hi Yield ETF 0.03% 10,177 $259K New
SPHY SS SPDR P High Yield ETF 0.03% 10,866 $259K New
VZLA Vizsla Silver Corp. 0.03% 86,120 $253K No change
TLT iShares 20+ Year Treasury BD 0.03% 2,860 $252K New
GNT Gamco Natural Resources Gold 0.03% 38,450 $242K No change
VLO Valero Energy Corp. 0.03% 1,792 $241K No change
NOBL Proshares S&P 500 Dividend A 0.03% 2,349 $237K No change
GE General Electric filed as GE AEROSPACE 0.03% 914 $235K New
IWF iShares Russell 1000 Growth 0.03% 549 $233K Reduce -3.5%
UAN CVR Partners LP 0.03% 2,600 $231K Reduce -16.1%
BANX Arrowmark Financial Corp. 0.03% 10,990 $230K No change
SHW The Sherwin-Williams Co. 0.03% 660 $227K Reduce -1.2%
EGP Eastgroup Properties Inc. 0.03% 1,350 $226K No change
IEI iShares 3-7 Year Treasury Bo 0.03% 1,892 $225K New
PFF iShares Preferred & Income S 0.02% 6,855 $210K No change
SPH Suburban Propane Partners LP 0.02% 11,263 $209K No change
TRGP Targa Resources Corp. 0.02% 1,162 $202K No change
XCHYX Calamos Convert & High Inc. 0.02% 17,500 $192K No change
AVK Advent Convert & Income 0.02% 14,035 $170K Add +3.0%
ACP Abrdn Income Credit Strat 0.02% 27,604 $163K No change
XAODX Abrdn Total Dynamic Dividend 0.02% 15,930 $141K No change
XEFRX Eaton Vance Sr FLTG Rate TR 0.02% 11,600 $141K Reduce -23.2%
NUV Nuveen Municipal Value 0.01% 14,839 $129K No change
HL Hecla Mining Co. 0.01% 19,313 $116K Reduce -13.0%
EQX Equinox Gold Corp. 0.01% 19,455 $112K No change
Other holdings (3): bonds, preferreds, convertibles and warrants · $16.2M (not counted above)
SecurityClassShares / PrincipalValueChange
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 225,586$15.3MReduce -0.0%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 366$430KReduce -94.9%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 339$411KReduce -7.6%

Total filed on the 13F, all lines: $915.0M.

Portfolio Sells Q1 2025 → Q2 2025
EDV Vanguard Extended Dur Treas Sold out 0.00% −6.92
TBIL F/M US Treasury 3 Month Bill Reduce -20.1% 11.46% −2.49
GILD Gilead Sciences Inc. Sold out 0.00% −0.88
DOC Healthpeak Properties Inc. Sold out 0.00% −0.86
NEM Newmont Corp. Reduce -96.2% 0.03% −0.70
LYB Lyondellbasell Indu Class A Sold out 0.00% −0.57
SLV iShares Silver Trust Reduce -46.9% 0.73% −0.54
ORLY O'reilly Automotive Inc. Reduce -41.0% 0.67% −0.50
CNC Centene Corp. Sold out 0.00% −0.44
EPD Enterprise Products Partners Reduce -1.2% 4.63% −0.39
RGLD Royal Gold Inc. Reduce -26.3% 1.70% −0.36
GLD SPDR Gold Shares Reduce -40.2% 0.59% −0.32
REGN Regeneron Pharmaceuticals Sold out 0.00% −0.25
TPYP Tortoise North American Pipe Reduce -14.9% 0.73% −0.12
DOW Dow Inc. Sold out 0.00% −0.04
INTU Intuit Inc. Sold out 0.00% −0.03
RSG Republic Services Inc. Reduce -31.1% 0.07% −0.03
MPLX MPLX LP Reduce -0.0% 2.31% −0.03
PAA Plains All Amer Pipeline LP Reduce -3.4% 0.23% −0.02
UNH Unitedhealth Group Inc. Sold out 0.00% −0.02
LLY Eli Lilly & Co. Reduce -23.1% 0.06% −0.02
VIXM Proshares Vix Mid-Term Fut Sold out 0.00% −0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.5% 0.16% −0.02
WMB Williams Cos Inc. Reduce -11.4% 0.33% −0.01
RSP Invesco S&P 500 Equal Weight Reduce -8.6% 0.49% −0.01
PM Philip Morris International Reduce -28.3% 0.03% −0.01
GWW WW Grainger Inc. Reduce -15.5% 0.06% −0.01
XEFRX Eaton Vance Sr FLTG Rate TR Reduce -23.2% 0.02% −0.00
HD Home Depot Inc. Reduce -7.0% 0.10% −0.00
BAC Bank of America Corp. Reduce -19.8% 0.06% −0.00
DVY iShares Select Dividend ETF Reduce -3.2% 0.23% −0.00
PSA Public Storage Reduce -4.5% 0.03% −0.00
ABT Abbott Laboratories Reduce -6.0% 0.12% −0.00
HL Hecla Mining Co. Reduce -13.0% 0.01% −0.00
PGX Invesco Preferred ETF Reduce -2.2% 0.03% −0.00
SHW The Sherwin-Williams Co. Reduce -1.2% 0.03% 0.00
UAN CVR Partners LP Reduce -16.1% 0.03% +0.00
CEF Sprott Physical Gold and Sil Reduce -5.7% 0.04% +0.00
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -1.3% 0.05% +0.00
JPM JPMorgan Chase & Co. Reduce -14.8% 0.05% +0.00
PSLV Sprott Physical Silver Trust Reduce -2.9% 0.05% +0.00
JXN Jackson Financial Inc. Class A Reduce -6.8% 0.18% +0.00
IWV iShares Russell 3000 ETF Reduce -8.4% 0.08% +0.00
IVV iShares Core S&P 500 ETF Reduce -0.9% 0.03% +0.00
IWF iShares Russell 1000 Growth Reduce -3.5% 0.03% +0.00
HON Honeywell International Inc. Reduce -0.4% 0.04% +0.00
IWP iShares Russell Mid-Cap Grow Reduce -6.2% 0.05% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -9.8% 0.26% +0.01
PHYS Sprott Physical Gold Trust Reduce -0.5% 0.11% +0.01
IBM Intl Business Machines Corp. Reduce -11.8% 0.15% +0.01

Portfolio Buys Q1 2025 → Q2 2025
COP Conocophillips Add +369.1% 1.64% +1.24
CVX Chevron Corp. Add +633.4% 1.34% +1.13
APA Apa Corp. New 0.88% +0.88
MTDR Matador Resources Co. New 0.76% +0.76
LNC Lincoln National Corp. New 0.73% +0.73
FRO Frontline PLC New 0.71% +0.71
NOG Northern Oil and Gas Inc. New 0.69% +0.69
NGD New Gold Inc. Add +403.6% 0.78% +0.67
PAAS Pan American Silver Corp. Add +34.3% 1.42% +0.49
RMD Resmed Inc. Add +116.8% 0.78% +0.48
TNK Teekay Tankers Ltd. Class A New 0.45% +0.45
GOOG Alphabet Inc. Class C Add +0.1% 2.80% +0.40
MTD Mettler-Toledo International Add +142.3% 0.67% +0.40
MAS Masco Corp. Add +125.3% 0.68% +0.36
OTIS Otis Worldwide Corp. New 0.34% +0.34
YUM Yum! Brands Inc. Add +992.7% 0.37% +0.34
ABBV Abbvie Inc. Add +227.4% 0.47% +0.32
V Visa Inc. Class A Add +18.6% 1.49% +0.28
NOW ServiceNow Inc. Add +2.8% 0.98% +0.26
AAPL Apple Inc. Add +15.0% 3.01% +0.25
MCO Moody's Corp. Add +1.6% 1.80% +0.20
BKNG Booking Holdings Inc. Add +2.0% 0.68% +0.17
UGI Ugi Corp. Add +0.5% 0.91% +0.11
MA Mastercard Inc. Class A Add +1.6% 1.49% +0.10
WPM Wheaton Precious Metals Corp. Add +0.0% 0.57% +0.09
NVDA Nvidia Corp. Add +6.2% 0.24% +0.09
CTVA Corteva Inc. Add +3.7% 0.41% +0.09
VRSN Verisign Inc. Add +1.4% 0.47% +0.07
AMLP Alerian MLP ETF Add +11.3% 0.99% +0.07
TFLO iShares Treasury Floating Ra Add +1.3% 1.70% +0.07
DSTL Distillate US Fundamental St Add +0.0% 1.36% +0.06
ADBE Adobe Inc. Add +3.0% 0.99% +0.06
UL Unilever PLC Add +1.3% 0.92% +0.06
LNG Cheniere Energy Inc. Add +0.3% 0.68% +0.05
MCK McKesson Corp. Add +1.3% 0.44% +0.05
NVS Novartis AG-Sponsored ADR Add +3.5% 0.39% +0.05
SHY iShares 1-3 Year Treasury Bo Add +99.1% 0.09% +0.04
CI The Cigna Group Add +2.6% 0.74% +0.04
BX Blackstone Inc. Add +0.2% 0.41% +0.04
JPST JPMorgan Ultra-Short Income Add +15.7% 0.23% +0.04
ET Energy Transfer LP Add +3.5% 0.99% +0.04
EXPE Expedia Group Inc. Add +1.9% 0.72% +0.04
VTI VG Morningstar TS MKT ETF-US Add +1.4% 0.26% +0.03
AMZN Amazon.com Inc. Add +0.4% 0.21% +0.03
USHY iShares Broad Usd High Yield New 0.03% +0.03
SJNK SS SPDR BB St Hi Yield ETF New 0.03% +0.03
SPHY SS SPDR P High Yield ETF New 0.03% +0.03
MEDP Medpace Holdings Inc. Add +3.6% 0.32% +0.03
TLT iShares 20+ Year Treasury BD New 0.03% +0.03
META Meta Platforms Inc. Class A Add +71.9% 0.05% +0.03

Notes & Other Activity Q1 2025 → Q2 2025
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A Reduce -0.0% 225,586 $15.3M
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -94.9% 366 $430K
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -7.6% 339 $411K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 261$1.2BVBIL, IAU, EPD, GOOG, AAPL
Q1 2026 241$1.2BVBIL, IAU, EPD, AAPL, GOOG
Q4 2025 247$1.1BVBIL, IAU, EPD, GOOG, MSFT
Q3 2025 219$1.1BVBIL, IAU, MSFT, EPD, GOOG
Q2 2025 206$898.8MTBIL, IAU, EPD, MSFT, AAPL
Q1 2025 203$924.1MTBIL, EDV, IAU, EPD, MSFT
Q4 2024 209$827.5MTBIL, IAU, EPD, MSFT, AAPL
Q3 2024 214$980.3MTFLO, TBIL, EDV, IAU, EPD
Q2 2024 228$826.3MTFLO, TBIL, IAU, EPD, MSFT
Q1 2024 221$702.3MTFLO, EPD, IAU, MSFT, GOOG