Oxbow Advisors, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 31, 2025), Oxbow Advisors, LLC reported 219 stock positions worth $1.1 billion. Its top holding was Vanguard 0-3M T-Bill ETF (VBIL) at 14.8% of the portfolio, followed by iShares Gold Trust (IAU, 6.3%) and Microsoft (MSFT, 3.8%). Compared with Q2 2025, it opened 22 new positions, sold out of 9, added to 68 and reduced 69. The biggest buy was a new position in Vanguard 0-3M T-Bill ETF (VBIL) and the biggest sale F/M US Treasury 3 Month Bill (TBIL, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Austin, TX
- CIK
- 0001564770
- Portfolio Value
- $1.1B (Q3 2025)
- SEC Filing
- 0002085853-25-000209 ↗ filed Oct 31, 2025
Holdings Value
Holdings 219 stocks · $1.1B
| VBIL Vanguard 0-3M T-Bill ETF | 14.83% | 2,079,988 | $157.3M | New |
| IAU iShares Gold Trust | 6.26% | 912,179 | $66.4M | Reduce -3.6% |
| MSFT Microsoft Corp. | 3.83% | 78,442 | $40.6M | Reduce -5.1% |
| EPD Enterprise Products Partners | 3.80% | 1,290,033 | $40.3M | Reduce -3.9% |
| GOOG Alphabet Inc. Class C | 3.11% | 135,594 | $33.0M | Reduce -4.5% |
| AAPL Apple Inc. | 3.11% | 129,494 | $33.0M | Reduce -1.8% |
| AEM Agnico Eagle Mines Ltd. | 2.59% | 163,043 | $27.5M | Reduce -5.1% |
| MPLX MPLX LP | 1.85% | 393,420 | $19.7M | Reduce -2.3% |
| PAAS Pan American Silver Corp. | 1.62% | 444,825 | $17.2M | Reduce -1.1% |
| RGLD Royal Gold Inc. | 1.61% | 85,073 | $17.1M | Reduce -1.2% |
| COP Conocophillips | 1.49% | 166,690 | $15.8M | Add +1.4% |
| MCO Moody's Corp. | 1.48% | 32,955 | $15.7M | Add +2.0% |
| MA Mastercard Inc. Class A | 1.31% | 24,410 | $13.9M | Add +2.1% |
| V Visa Inc. Class A | 1.24% | 38,535 | $13.2M | Add +2.2% |
| CVX Chevron Corp. | 1.24% | 84,419 | $13.1M | Add +0.5% |
| DSTL Distillate US Fundamental St | 1.20% | 218,614 | $12.7M | Reduce -0.9% |
| SLV iShares Silver Trust | 1.13% | 283,872 | $12.0M | Add +41.2% |
| NGD New Gold Inc. | 0.99% | 1,455,136 | $10.4M | Add +2.3% |
| APA Apa Corp. | 0.98% | 428,856 | $10.4M | Reduce -0.4% |
| AMLP Alerian MLP ETF | 0.90% | 202,356 | $9.5M | Add +11.5% |
| XOM Exxon Mobil Corp. | 0.82% | 76,991 | $8.7M | Reduce -15.7% |
| ADBE Adobe Inc. | 0.80% | 23,994 | $8.5M | Add +4.0% |
| JNJ Johnson & Johnson | 0.79% | 45,299 | $8.4M | Add +1.4% |
| ET Energy Transfer LP | 0.78% | 482,596 | $8.3M | Reduce -1.8% |
| EXPE Expedia Group Inc. | 0.78% | 38,686 | $8.3M | Add +1.0% |
| UL Unilever PLC | 0.77% | 137,745 | $8.2M | Add +1.6% |
| MCD McDonald's Corp. | 0.74% | 25,951 | $7.9M | Add +2.5% |
| ZTS Zoetis Inc. | 0.74% | 53,469 | $7.8M | Add +85.7% |
| LNC Lincoln National Corp. | 0.72% | 189,391 | $7.6M | Reduce -0.6% |
| RMD Resmed Inc. | 0.71% | 27,521 | $7.5M | Add +0.9% |
| UGI Ugi Corp. | 0.69% | 221,289 | $7.4M | Reduce -1.7% |
| ORLY O'reilly Automotive Inc. | 0.69% | 67,746 | $7.3M | Add +2.2% |
| MAS Masco Corp. | 0.64% | 96,629 | $6.8M | Add +1.3% |
| LOW Lowe's Cos Inc. | 0.62% | 26,266 | $6.6M | Add +2.0% |
| GDX Vaneck Gold Miners ETF | 0.62% | 86,353 | $6.6M | Add +2.1% |
| BMY Bristol-Myers Squibb Co. | 0.61% | 143,784 | $6.5M | New |
| MTDR Matador Resources Co. | 0.61% | 143,199 | $6.4M | Add +0.1% |
| MTD Mettler-Toledo International | 0.60% | 5,205 | $6.4M | Add +1.6% |
| WDAY Workday Inc. Class A | 0.60% | 26,438 | $6.4M | New |
| WPM Wheaton Precious Metals Corp. | 0.60% | 56,722 | $6.3M | Reduce -0.8% |
| NOW ServiceNow Inc. | 0.60% | 6,893 | $6.3M | Reduce -19.9% |
| TPYP Tortoise North American Pipe | 0.60% | 173,784 | $6.3M | Reduce -4.8% |
| NTR Nutrien Ltd. | 0.59% | 105,735 | $6.2M | Add +0.7% |
| GLD SPDR Gold Shares | 0.58% | 17,330 | $6.2M | Reduce -0.5% |
| MOS The Mosaic Co. | 0.58% | 176,356 | $6.1M | Add +0.5% |
| PAGP Plains GP Holdings LP | 0.57% | 330,924 | $6.0M | Add +0.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.56% | 77,594 | $6.0M | Add +96.2% |
| CI The Cigna Group | 0.56% | 20,586 | $5.9M | Add +2.1% |
| CL Colgate-Palmolive Co. | 0.56% | 73,986 | $5.9M | Add +133.3% |
| LNG Cheniere Energy Inc. | 0.56% | 25,164 | $5.9M | Add +1.0% |
| INTU Intuit Inc. | 0.56% | 8,658 | $5.9M | New |
| BKNG Booking Holdings Inc. | 0.54% | 1,068 | $5.8M | Add +0.5% |
| NOG Northern Oil and Gas Inc. | 0.51% | 219,949 | $5.5M | Add +0.9% |
| ABBV Abbvie Inc. | 0.51% | 23,322 | $5.4M | Add +1.5% |
| VALE Vale SA-SP ADR | 0.51% | 496,977 | $5.4M | Reduce -0.3% |
| EOG EOG Resources Inc. | 0.50% | 47,435 | $5.3M | Add +2.5% |
| KMI Kinder Morgan Inc. | 0.50% | 187,018 | $5.3M | Reduce -0.3% |
| HL Hecla Mining Co. | 0.49% | 429,549 | $5.2M | Add +2124.1% |
| GIL Gildan Activewear Inc. | 0.48% | 88,097 | $5.1M | New |
| TFLO iShares Treasury Floating Ra | 0.47% | 98,619 | $5.0M | Reduce -67.3% |
| MEDP Medpace Holdings Inc. | 0.45% | 9,277 | $4.8M | Add +1.0% |
| FRO Frontline PLC | 0.45% | 209,166 | $4.8M | Reduce -46.4% |
| SU Suncor Energy Inc. | 0.42% | 107,589 | $4.5M | Add +2.8% |
| RSP Invesco S&P 500 Equal Weight | 0.42% | 23,599 | $4.5M | Reduce -3.1% |
| FNV Franco-Nevada Corp. | 0.42% | 20,072 | $4.5M | New |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.42% | 14,424 | $4.5M | No change |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.42% | 135,248 | $4.4M | Add +0.3% |
| RIO Rio Tinto PLC-Spon ADR | 0.40% | 64,431 | $4.3M | Add +0.7% |
| MCK McKesson Corp. | 0.40% | 5,490 | $4.2M | Add +1.2% |
| ACGL Arch Capital Group Ltd. | 0.39% | 45,888 | $4.2M | Add +2.9% |
| VRSN Verisign Inc. | 0.39% | 14,853 | $4.2M | Add +0.7% |
| BX Blackstone Inc. | 0.39% | 24,267 | $4.1M | Reduce -0.5% |
| AEP American Electric Power | 0.35% | 33,443 | $3.8M | Add +1.0% |
| KMB Kimberly-Clark Corp. | 0.35% | 30,159 | $3.7M | Reduce -41.5% |
| NVS Novartis AG-Sponsored ADR | 0.35% | 28,840 | $3.7M | Add +0.8% |
| UNP Union Pacific Corp. | 0.34% | 15,380 | $3.6M | New |
| EVRG Evergy Inc. | 0.34% | 47,721 | $3.6M | Add +1.4% |
| YUM Yum! Brands Inc. | 0.33% | 22,885 | $3.5M | Add +2.0% |
| CTVA Corteva Inc. | 0.32% | 50,228 | $3.4M | Add +1.0% |
| MNST Monster Beverage Corp. | 0.32% | 50,289 | $3.4M | New |
| WMB Williams Cos Inc. | 0.32% | 53,068 | $3.4M | Add +13.2% |
| AVGO Broadcom Inc. | 0.31% | 10,063 | $3.3M | Reduce -0.6% |
| AMGN Amgen Inc. | 0.30% | 11,338 | $3.2M | Add +1.6% |
| CAT Caterpillar Inc. | 0.30% | 6,644 | $3.2M | Reduce -14.5% |
| JPST JPMorgan Ultra-Short Income | 0.28% | 58,985 | $3.0M | Add +42.8% |
| RPRX Royalty Pharma PLC Class A | 0.28% | 84,741 | $3.0M | New |
| GDXJ Vaneck Junior Gold Miners | 0.28% | 30,043 | $3.0M | Add +18.2% |
| WMT Walmart Inc. | 0.28% | 28,780 | $3.0M | Add +0.4% |
| REGN Regeneron Pharmaceuticals | 0.28% | 5,247 | $3.0M | New |
| OTIS Otis Worldwide Corp. | 0.27% | 31,466 | $2.9M | Add +3.1% |
| CCK Crown Holdings Inc. | 0.27% | 29,518 | $2.9M | New |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.27% | 34,011 | $2.8M | New |
| ABEV Ambev SA-ADR | 0.26% | 1,258,044 | $2.8M | New |
| INGR Ingredion Inc. | 0.26% | 22,802 | $2.8M | New |
| ABNB Airbnb Inc. Class A | 0.26% | 22,621 | $2.7M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 4,227 | $2.5M | Add +0.4% |
| NVDA Nvidia Corp. | 0.24% | 13,580 | $2.5M | Reduce -0.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.24% | 7,630 | $2.5M | No change |
| EMO Clearbridge Energy Midstream | 0.22% | 51,805 | $2.3M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.22% | 3,474 | $2.3M | Reduce -6.6% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $16.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 222,031 | $15.4M | Reduce -1.6% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 366 | $452K | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 340 | $435K | Add +0.3% |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | 50,610 | $962 | Reduce -2.3% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q2 2025 → Q3 2025
| TBIL F/M US Treasury 3 Month Bill | Reduce -98.6% | 0.14% | −11.32 |
| TFLO iShares Treasury Floating Ra | Reduce -67.3% | 0.47% | −1.23 |
| EPD Enterprise Products Partners | Reduce -3.9% | 3.80% | −0.83 |
| MSFT Microsoft Corp. | Reduce -5.1% | 3.83% | −0.74 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.54 |
| MPLX MPLX LP | Reduce -2.3% | 1.85% | −0.45 |
| TNK Teekay Tankers Ltd. Class A | Sold out | 0.00% | −0.45 |
| NOW ServiceNow Inc. | Reduce -19.9% | 0.60% | −0.39 |
| KMB Kimberly-Clark Corp. | Reduce -41.5% | 0.35% | −0.39 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.31 |
| IAU iShares Gold Trust | Reduce -3.6% | 6.26% | −0.30 |
| GIS General Mills Inc. | Reduce -86.9% | 0.04% | −0.30 |
| XOM Exxon Mobil Corp. | Reduce -15.7% | 0.82% | −0.28 |
| FRO Frontline PLC | Reduce -46.4% | 0.45% | −0.26 |
| UGI Ugi Corp. | Reduce -1.7% | 0.69% | −0.22 |
| ET Energy Transfer LP | Reduce -1.8% | 0.78% | −0.21 |
| DSTL Distillate US Fundamental St | Reduce -0.9% | 1.20% | −0.16 |
| TPYP Tortoise North American Pipe | Reduce -4.8% | 0.60% | −0.13 |
| KMI Kinder Morgan Inc. | Reduce -0.3% | 0.50% | −0.11 |
| RGLD Royal Gold Inc. | Reduce -1.2% | 1.61% | −0.09 |
| RSP Invesco S&P 500 Equal Weight | Reduce -3.1% | 0.42% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -5.7% | 0.19% | −0.06 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.06 |
| STR Sitio Royalties Corp. Class A | Sold out | 0.00% | −0.04 |
| ADP Automatic Data Processing | Reduce -0.1% | 0.17% | −0.04 |
| WM Waste Management Inc. | Reduce -0.1% | 0.17% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.6% | 0.22% | −0.04 |
| CAT Caterpillar Inc. | Reduce -14.5% | 0.30% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -0.4% | 0.15% | −0.03 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -26.6% | 0.05% | −0.03 |
| VALE Vale SA-SP ADR | Reduce -0.3% | 0.51% | −0.03 |
| USHY iShares Broad Usd High Yield | Sold out | 0.00% | −0.03 |
| KR Kroger Co. | Reduce -0.3% | 0.11% | −0.03 |
| SJNK SS SPDR BB St Hi Yield ETF | Sold out | 0.00% | −0.03 |
| DVY iShares Select Dividend ETF | Reduce -3.7% | 0.20% | −0.03 |
| SPHY SS SPDR P High Yield ETF | Sold out | 0.00% | −0.03 |
| NFLX Netflix Inc. | Reduce -1.9% | 0.07% | −0.03 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.02 |
| ABT Abbott Laboratories | Reduce -0.6% | 0.10% | −0.02 |
| PEP Pepsico Inc. | Reduce -0.7% | 0.13% | −0.02 |
| BX Blackstone Inc. | Reduce -0.5% | 0.39% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -2.6% | 0.11% | −0.01 |
| HON Honeywell International Inc. | Reduce -11.1% | 0.03% | −0.01 |
| LNC Lincoln National Corp. | Reduce -0.6% | 0.72% | −0.01 |
| VTR Ventas Inc. | Reduce -2.5% | 0.14% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -15.1% | 0.04% | −0.01 |
| PGX Invesco Preferred ETF | Reduce -25.4% | 0.02% | −0.01 |
| GLD SPDR Gold Shares | Reduce -0.5% | 0.58% | −0.01 |
| VONE Vanguard Russell 1000 | Reduce -13.6% | 0.03% | −0.01 |
| CLX Clorox Company | Reduce -3.9% | 0.04% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| VBIL Vanguard 0-3M T-Bill ETF | New | 14.83% | +14.83 |
| BMY Bristol-Myers Squibb Co. | New | 0.61% | +0.61 |
| WDAY Workday Inc. Class A | New | 0.60% | +0.60 |
| INTU Intuit Inc. | New | 0.56% | +0.56 |
| GIL Gildan Activewear Inc. | New | 0.48% | +0.48 |
| HL Hecla Mining Co. | Add +2124.1% | 0.49% | +0.48 |
| FNV Franco-Nevada Corp. | New | 0.42% | +0.42 |
| SLV iShares Silver Trust | Add +41.2% | 1.13% | +0.40 |
| UNP Union Pacific Corp. | New | 0.34% | +0.34 |
| MNST Monster Beverage Corp. | New | 0.32% | +0.32 |
| RPRX Royalty Pharma PLC Class A | New | 0.28% | +0.28 |
| REGN Regeneron Pharmaceuticals | New | 0.28% | +0.28 |
| CCK Crown Holdings Inc. | New | 0.27% | +0.27 |
| KOF Coca-Cola Femsa Sab-SP ADR | New | 0.27% | +0.27 |
| ABEV Ambev SA-ADR | New | 0.26% | +0.26 |
| INGR Ingredion Inc. | New | 0.26% | +0.26 |
| ABNB Airbnb Inc. Class A | New | 0.26% | +0.26 |
| AZN Astrazeneca PLC-Spons ADR | Add +96.2% | 0.56% | +0.25 |
| ZTS Zoetis Inc. | Add +85.7% | 0.74% | +0.24 |
| CL Colgate-Palmolive Co. | Add +133.3% | 0.56% | +0.24 |
| NGD New Gold Inc. | Add +2.3% | 0.99% | +0.20 |
| GDX Vaneck Gold Miners ETF | Add +2.1% | 0.62% | +0.13 |
| MEDP Medpace Holdings Inc. | Add +1.0% | 0.45% | +0.13 |
| GDXJ Vaneck Junior Gold Miners | Add +18.2% | 0.28% | +0.09 |
| EXPE Expedia Group Inc. | Add +1.0% | 0.78% | +0.06 |
| JPST JPMorgan Ultra-Short Income | Add +42.8% | 0.28% | +0.05 |
| VNOM Viper Energy Inc. Class A | New | 0.04% | +0.04 |
| SIL Global X Silver Miners ETF | New | 0.04% | +0.04 |
| ABBV Abbvie Inc. | Add +1.5% | 0.51% | +0.03 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | New | 0.03% | +0.03 |
| JNJ Johnson & Johnson | Add +1.4% | 0.79% | +0.03 |
| SCHD Schwab US DVD Equity ETF | Add +88.2% | 0.07% | +0.03 |
| ORLY O'reilly Automotive Inc. | Add +2.2% | 0.69% | +0.02 |
| MRK Merck & Co. Inc. | New | 0.02% | +0.02 |
| DELL Dell Technologies -C | New | 0.02% | +0.02 |
| IUSV iShares Core S&P U.S. Value | New | 0.02% | +0.02 |
| SILJ Amplify Junior Silver Miners | New | 0.02% | +0.02 |
| AG First Majestic Silver Corp. | Add +24.6% | 0.05% | +0.02 |
| VLO Valero Energy Corp. | Add +18.4% | 0.03% | +0.01 |
| PSLV Sprott Physical Silver Trust | Add +6.0% | 0.05% | +0.01 |
| CEF Sprott Physical Gold and Sil | Add +7.5% | 0.05% | +0.00 |
| MPC Marathon Petroleum Corp. | Add +0.1% | 0.04% | −0.00 |
| AVK Advent Convert & Income | Add +1.9% | 0.02% | −0.00 |
| IEI iShares 3-7 Year Treasury Bo | Add +8.1% | 0.02% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +1.3% | 0.05% | −0.00 |
| HD Home Depot Inc. | Add +0.9% | 0.09% | −0.01 |
| META Meta Platforms Inc. Class A | Add +3.3% | 0.04% | −0.01 |
| PM Philip Morris International | Add +2.4% | 0.03% | −0.01 |
| CSCO Cisco Systems Inc. | Add +0.2% | 0.05% | −0.01 |
| WMB Williams Cos Inc. | Add +13.2% | 0.32% | −0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -1.6% | 222,031 | $15.4M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +0.3% | 340 | $435K |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | Reduce -2.3% | 50,610 | $962 |
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 | 261 | $1.2B | VBIL, IAU, EPD, GOOG, AAPL |
| Q1 2026 | 241 | $1.2B | VBIL, IAU, EPD, AAPL, GOOG |
| Q4 2025 | 247 | $1.1B | VBIL, IAU, EPD, GOOG, MSFT |
| Q3 2025 | 219 | $1.1B | VBIL, IAU, MSFT, EPD, GOOG |
| Q2 2025 | 206 | $898.8M | TBIL, IAU, EPD, MSFT, AAPL |
| Q1 2025 | 203 | $924.1M | TBIL, EDV, IAU, EPD, MSFT |
| Q4 2024 | 209 | $827.5M | TBIL, IAU, EPD, MSFT, AAPL |
| Q3 2024 | 214 | $980.3M | TFLO, TBIL, EDV, IAU, EPD |
| Q2 2024 | 228 | $826.3M | TFLO, TBIL, IAU, EPD, MSFT |
| Q1 2024 | 221 | $702.3M | TFLO, EPD, IAU, MSFT, GOOG |