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

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 Q2 2025 Q3 2025: $1.1B $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

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%
VOO Vanguard S&P 500 ETF 0.21% 3,647 $2.2M No change
DVY iShares Select Dividend ETF 0.20% 14,824 $2.1M Reduce -3.7%
GOOGL Alphabet Inc. Class A 0.19% 8,424 $2.0M Reduce -0.0%
AGI Alamos Gold Inc. Class A 0.19% 58,474 $2.0M No change
COST Costco Wholesale Corp. 0.19% 2,188 $2.0M Reduce -5.7%
PAA Plains All Amer Pipeline LP 0.18% 113,932 $1.9M No change
AMZN Amazon.com Inc. 0.18% 8,591 $1.9M Add +0.4%
JXN Jackson Financial Inc. Class A 0.17% 18,054 $1.8M Reduce -0.1%
WM Waste Management Inc. 0.17% 8,175 $1.8M Reduce -0.1%
ADP Automatic Data Processing 0.17% 6,105 $1.8M Reduce -0.1%
GFI Gold Fields Ltd.-Spons ADR 0.15% 38,675 $1.6M No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.15% 3,920 $1.6M No change
PG The Procter & Gamble Co. 0.15% 10,197 $1.6M Reduce -0.4%
VTR Ventas Inc. 0.14% 21,309 $1.5M Reduce -2.5%
TBIL F/M US Treasury 3 Month Bill 0.14% 29,629 $1.5M Reduce -98.6%
BRK.B Berkshire Hathaway Inc. Class B 0.14% 2,933 $1.5M No change
PEP Pepsico Inc. 0.13% 9,875 $1.4M Reduce -0.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.12% 4,555 $1.3M Add +2.2%
MSI Motorola Solutions Inc. 0.12% 2,805 $1.3M No change
AU Anglogold Ashanti PLC 0.12% 18,008 $1.3M Reduce -13.9%
B Barrick Mining Corp. 0.12% 37,355 $1.2M Reduce 0.0%
KR Kroger Co. 0.11% 17,561 $1.2M Reduce -0.3%
PHYS Sprott Physical Gold Trust 0.11% 39,124 $1.2M Reduce -1.0%
VB Vanguard Most SM-Cap ETF-Usd 0.11% 4,484 $1.1M Reduce -2.6%
ABT Abbott Laboratories 0.10% 8,075 $1.1M Reduce -0.6%
HD Home Depot Inc. 0.09% 2,396 $971K Add +0.9%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.09% 3,205 $941K No change
DSMC Distillate S/M Cash Flow ETF 0.09% 25,910 $930K Reduce -2.2%
STEL Stellar Bancorp Inc. 0.09% 30,464 $924K No change
GBTC Grayscale Bitcoin Trust ETF 0.08% 10,000 $898K No change
SSRM SSR Mining Inc. 0.08% 35,230 $860K No change
OKE Oneok Inc. 0.08% 11,523 $841K Add +7.5%
PNFP Pinnacle Financial Partners 0.08% 8,750 $821K No change
SYY Sysco Corp. 0.07% 9,600 $790K No change
NFLX Netflix Inc. 0.07% 656 $786K Reduce -1.9%
SCHD Schwab US DVD Equity ETF 0.07% 28,241 $771K Add +88.2%
BRK.A Berkshire Hathaway Inc. Class A 0.07% 1 $754K No change
IWV iShares Russell 3000 ETF 0.07% 1,929 $731K No change
ORCL Oracle Corp. 0.07% 2,598 $731K No change
MTG Mgic Investment Corp. 0.07% 25,000 $709K No change
TRP TC Energy Corp. 0.06% 12,181 $663K Reduce -5.4%
SHY iShares 1-3 Year Treasury Bo 0.05% 6,850 $568K Reduce -26.6%
VTS Vitesse Energy Inc. 0.05% 24,084 $559K No change
AXP American Express Co. 0.05% 1,672 $555K Reduce -1.9%
PSLV Sprott Physical Silver Trust 0.05% 35,204 $553K Add +6.0%
RSG Republic Services Inc. 0.05% 2,381 $546K No change
VTES Vanguard SH Term Tax-Ex Bond 0.05% 5,357 $546K No change
NVG Nuveen Amt-FR Muni CRDT 0.05% 43,535 $535K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 10,369 $535K Reduce -5.3%
SUN Sunoco LP 0.05% 10,595 $530K No change
AG First Majestic Silver Corp. 0.05% 42,720 $525K Add +24.6%
CEF Sprott Physical Gold and Sil 0.05% 14,306 $525K Add +7.5%
CSCO Cisco Systems Inc. 0.05% 7,666 $525K Add +0.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.05% 1,055 $506K Add +1.3%
FAX Abrdn Asia-Pacific Income 0.05% 30,509 $497K No change
KGC Kinross Gold Corp. 0.05% 19,315 $480K No change
GGN Gamco GLBL Gold NTRL Res Inc. 0.04% 91,750 $473K No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.04% 490 $467K No change
CLX Clorox Company 0.04% 3,759 $463K Reduce -3.9%
META Meta Platforms Inc. Class A 0.04% 625 $459K Add +3.3%
JPM JPMorgan Chase & Co. 0.04% 1,431 $451K Reduce -15.1%
TPL Texas Pacific Land Corp. 0.04% 477 $446K No change
MMM 3M Co. 0.04% 2,828 $439K No change
IWP iShares Russell Mid-Cap Grow 0.04% 3,080 $439K No change
VNOM Viper Energy Inc. Class A 0.04% 11,289 $431K New
SIL Global X Silver Miners ETF 0.04% 5,954 $426K New
DFAC Dimensional US Core Equity 2 0.04% 10,907 $421K No change
MPC Marathon Petroleum Corp. 0.04% 2,175 $419K Add +0.1%
EXE Expand Energy Corp. 0.04% 3,917 $416K No change
DD Dupont DE Nemours Inc. 0.04% 5,269 $410K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.04% 2,269 $396K Reduce -9.5%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.04% 1,249 $385K No change
GIS General Mills Inc. 0.04% 7,604 $383K Reduce -86.9%
XME SS SPDR S&P Metals Mining 0.04% 4,075 $380K No change
BTG B2GOLD Corp. 0.04% 76,485 $379K No change
VZLA Vizsla Silver Corp. 0.04% 86,120 $372K No change
VLO Valero Energy Corp. 0.03% 2,122 $361K Add +18.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.03% 3,225 $359K New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.03% 2,424 $350K Reduce -1.4%
VONE Vanguard Russell 1000 0.03% 1,129 $341K Reduce -13.6%
EQT Eqt Corp. 0.03% 6,258 $341K No change
OXY Occidental Petroleum Corp. 0.03% 7,045 $333K No change
LNT Alliant Energy Corp. 0.03% 4,916 $331K No change
DUK Duke Energy Corp. 0.03% 2,649 $328K No change
SBR Sabine Royalty Trust 0.03% 4,078 $324K Reduce -0.3%
NEM Newmont Corp. 0.03% 3,629 $306K Reduce -31.7%
HON Honeywell International Inc. 0.03% 1,421 $299K Reduce -11.1%
WEC WEC Energy Group Inc. 0.03% 2,553 $293K No change
IVV iShares Core S&P 500 ETF 0.03% 421 $282K Reduce -1.2%
COKE Coca-Cola Consolidated Inc. 0.03% 2,380 $279K No change
PM Philip Morris International 0.03% 1,697 $275K Add +2.4%
GE General Electric filed as GE AEROSPACE 0.03% 914 $275K No change
GNT Gamco Natural Resources Gold 0.03% 38,450 $270K No change
SH Proshares Short S&P500 0.02% 7,047 $260K No change
IWF iShares Russell 1000 Growth 0.02% 549 $257K No change
TLT iShares 20+ Year Treasury BD 0.02% 2,860 $256K No change
PSA Public Storage 0.02% 883 $255K Reduce -6.4%
FCX Freeport-McMoran Inc. 0.02% 6,377 $250K No change
MELI MercadoLibre Inc. 0.02% 107 $250K Reduce -0.9%
IEI iShares 3-7 Year Treasury Bo 0.02% 2,045 $244K Add +8.1%
NOBL Proshares S&P 500 Dividend A 0.02% 2,349 $242K No change
MRK Merck & Co. Inc. 0.02% 2,883 $242K New
BANX Arrowmark Financial Corp. 0.02% 10,890 $239K Reduce -0.9%
UAN CVR Partners LP 0.02% 2,600 $234K No change
SHW The Sherwin-Williams Co. 0.02% 660 $229K No change
EGP Eastgroup Properties Inc. 0.02% 1,350 $229K No change
EQX Equinox Gold Corp. 0.02% 19,455 $218K No change
PGX Invesco Preferred ETF 0.02% 18,757 $218K Reduce -25.4%
PFF iShares Preferred & Income S 0.02% 6,855 $217K No change
DELL Dell Technologies -C 0.02% 1,500 $213K New
SPH Suburban Propane Partners LP 0.02% 11,080 $207K Reduce -1.6%
IUSV iShares Core S&P U.S. Value 0.02% 2,061 $206K New
SILJ Amplify Junior Silver Miners 0.02% 8,695 $201K New
XCHYX Calamos Convert & High Inc. 0.02% 17,500 $196K No change
AVK Advent Convert & Income 0.02% 14,302 $183K Add +1.9%
ACP Abrdn Income Credit Strat 0.02% 27,604 $160K No change
XAODX Abrdn Total Dynamic Dividend 0.01% 15,115 $143K Reduce -5.1%
NUV Nuveen Municipal Value 0.01% 14,839 $133K No change
XEFRX Eaton Vance Sr FLTG Rate TR 0.01% 11,500 $132K Reduce -0.9%
Other holdings (4): bonds, preferreds, convertibles and warrants · $16.3M (not counted above)
SecurityClassShares / PrincipalValueChange
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 222,031$15.4MReduce -1.6%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 366$452KNo change
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 340$435KAdd +0.3%
CLEARBRIDGE ENERGY MI-RT RIGHT 10/10/2025 50,610$962Reduce -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

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