Oxbow Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Oxbow Advisors, LLC reported 247 stock positions worth $1.1 billion. Its top holding was Vanguard 0-3M T-Bill ETF (VBIL) at 11.7% of the portfolio, followed by iShares Gold Trust (IAU, 5.8%) and Enterprise Products Partners (EPD, 3.8%). Compared with Q3 2025, it opened 35 new positions, sold out of 8, added to 77 and reduced 75. The biggest buy was a new position in BHP Group Ltd.-Spon ADR (BHP) and the biggest sale Vanguard 0-3M T-Bill ETF (VBIL, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- Austin, TX
- CIK
- 0001564770
- Portfolio Value
- $1.1B (Q4 2025)
- SEC Filing
- 0002085853-26-000196 ↗ filed Feb 4, 2026
Holdings Value
Holdings 247 stocks · $1.1B
| VBIL Vanguard 0-3M T-Bill ETF | 11.70% | 1,737,812 | $131.1M | Reduce -16.4% |
| IAU iShares Gold Trust | 5.81% | 802,424 | $65.1M | Reduce -12.0% |
| EPD Enterprise Products Partners | 3.80% | 1,329,085 | $42.6M | Add +3.0% |
| GOOG Alphabet Inc. Class C | 3.63% | 129,577 | $40.7M | Reduce -4.4% |
| MSFT Microsoft Corp. | 3.37% | 78,151 | $37.8M | Reduce -0.4% |
| AAPL Apple Inc. | 3.10% | 127,851 | $34.8M | Reduce -1.3% |
| MPLX MPLX LP | 1.93% | 405,174 | $21.6M | Add +3.0% |
| SLV iShares Silver Trust | 1.69% | 294,396 | $19.0M | Add +3.7% |
| MCO Moody's Corp. | 1.55% | 34,053 | $17.4M | Add +3.3% |
| AEM Agnico Eagle Mines Ltd. | 1.31% | 86,391 | $14.6M | Reduce -47.0% |
| MA Mastercard Inc. Class A | 1.25% | 24,580 | $14.0M | Add +0.7% |
| V Visa Inc. Class A | 1.21% | 38,778 | $13.6M | Add +0.6% |
| CVX Chevron Corp. | 1.19% | 87,234 | $13.3M | Add +3.3% |
| RGLD Royal Gold Inc. | 1.15% | 58,154 | $12.9M | Reduce -31.6% |
| INTU Intuit Inc. | 1.13% | 19,116 | $12.7M | Add +120.8% |
| UGI Ugi Corp. | 1.03% | 307,934 | $11.5M | Add +39.1% |
| APA Apa Corp. | 1.00% | 455,752 | $11.1M | Add +6.3% |
| BKNG Booking Holdings Inc. | 0.96% | 2,006 | $10.7M | Add +87.8% |
| EXPE Expedia Group Inc. | 0.96% | 37,784 | $10.7M | Reduce -2.3% |
| AMLP Alerian MLP ETF | 0.95% | 226,260 | $10.6M | Add +11.8% |
| LNC Lincoln National Corp. | 0.92% | 231,208 | $10.3M | Add +22.1% |
| LNG Cheniere Energy Inc. | 0.87% | 50,096 | $9.7M | Add +99.1% |
| BMY Bristol-Myers Squibb Co. | 0.86% | 179,524 | $9.7M | Add +24.9% |
| XOM Exxon Mobil Corp. | 0.84% | 77,863 | $9.4M | Add +1.1% |
| DSTL Distillate US Fundamental St | 0.84% | 158,927 | $9.4M | Reduce -27.3% |
| JNJ Johnson & Johnson | 0.83% | 44,948 | $9.3M | Reduce -0.8% |
| NTR Nutrien Ltd. | 0.79% | 142,981 | $8.8M | Add +35.2% |
| ET Energy Transfer LP | 0.76% | 517,821 | $8.5M | Add +7.3% |
| HL Hecla Mining Co. | 0.76% | 443,630 | $8.5M | Add +3.3% |
| ACGL Arch Capital Group Ltd. | 0.72% | 84,290 | $8.1M | Add +83.7% |
| MCD McDonald's Corp. | 0.71% | 25,903 | $7.9M | Reduce -0.2% |
| ADP Automatic Data Processing | 0.70% | 30,630 | $7.9M | Add +401.7% |
| UL Unilever PLC-Sponsored ADR | 0.68% | 116,901 | $7.6M | Reduce -4.5% |
| GLD SPDR Gold Shares | 0.68% | 19,114 | $7.6M | Add +10.3% |
| TFLO iShares Treasury Floating Ra | 0.67% | 147,889 | $7.5M | Add +50.0% |
| FNV Franco-Nevada Corp. | 0.65% | 35,332 | $7.3M | Add +76.0% |
| MTD Mettler-Toledo International | 0.65% | 5,208 | $7.3M | Add +0.1% |
| BHP BHP Group Ltd.-Spon ADR | 0.65% | 119,974 | $7.2M | New |
| AZN Astrazeneca PLC-Spons ADR | 0.64% | 78,288 | $7.2M | Add +0.9% |
| VALE Vale SA-SP ADR | 0.64% | 546,782 | $7.1M | Add +10.0% |
| GSK GSK PLC-Spon ADR | 0.63% | 142,798 | $7.0M | New |
| COP Conocophillips | 0.62% | 74,754 | $7.0M | Reduce -55.1% |
| PAGP Plains GP Holdings LP | 0.61% | 358,030 | $6.9M | Add +8.2% |
| ABNB Airbnb Inc. Class A | 0.61% | 50,414 | $6.8M | Add +122.9% |
| UAN CVR Partners LP | 0.60% | 66,030 | $6.8M | Add +2439.6% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.60% | 237,231 | $6.7M | Add +75.4% |
| WPM Wheaton Precious Metals Corp. | 0.59% | 56,510 | $6.6M | Reduce -0.4% |
| RMD Resmed Inc. | 0.59% | 27,571 | $6.6M | Add +0.2% |
| VRSN Verisign Inc. | 0.59% | 27,014 | $6.6M | Add +81.9% |
| PRU Prudential Financial Inc. | 0.58% | 57,985 | $6.5M | New |
| MTDR Matador Resources Co. | 0.58% | 152,590 | $6.5M | Add +6.6% |
| BBY Best Buy Co. Inc. | 0.56% | 94,051 | $6.3M | New |
| ORLY O'reilly Automotive Inc. | 0.56% | 68,299 | $6.2M | Add +0.8% |
| UBER Uber Technologies Inc. | 0.53% | 72,956 | $6.0M | New |
| TPYP Tortoise North American Pipe | 0.53% | 166,782 | $5.9M | Reduce -4.0% |
| WDAY Workday Inc. Class A | 0.51% | 26,798 | $5.8M | Add +1.4% |
| ADBE Adobe Inc. | 0.50% | 16,148 | $5.7M | Reduce -32.7% |
| GIL Gildan Activewear Inc. | 0.50% | 89,707 | $5.6M | Add +1.8% |
| CI The Cigna Group | 0.50% | 20,281 | $5.6M | Reduce -1.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.49% | 68,026 | $5.4M | Add +5.6% |
| ABBV Abbvie Inc. | 0.47% | 23,122 | $5.3M | Reduce -0.9% |
| NOW ServiceNow Inc. | 0.47% | 34,291 | $5.3M | Reduce -0.5% |
| MEDP Medpace Holdings Inc. | 0.46% | 9,198 | $5.2M | Reduce -0.8% |
| KMI Kinder Morgan Inc. | 0.46% | 185,833 | $5.1M | Reduce -0.6% |
| AR Antero Resources Corp. | 0.45% | 146,351 | $5.0M | New |
| EOG EOG Resources Inc. | 0.45% | 47,902 | $5.0M | Add +1.0% |
| PBR Petroleo Brasileiro-Spon ADR | 0.44% | 418,136 | $5.0M | New |
| GDX Vaneck Gold Miners ETF | 0.44% | 57,358 | $4.9M | Reduce -33.6% |
| SU Suncor Energy Inc. | 0.43% | 108,612 | $4.8M | Add +0.9% |
| LYB Lyondellbasell Indu Class A | 0.41% | 106,596 | $4.6M | New |
| MOS The Mosaic Co. | 0.41% | 190,470 | $4.6M | Add +8.0% |
| MELI MercadoLibre Inc. | 0.40% | 2,242 | $4.5M | Add +1995.3% |
| MCK McKesson Corp. | 0.40% | 5,454 | $4.5M | Reduce -0.7% |
| RSP Invesco S&P 500 Equal Weight | 0.40% | 23,189 | $4.4M | Reduce -1.7% |
| REGN Regeneron Pharmaceuticals | 0.37% | 5,327 | $4.1M | Add +1.5% |
| NESR National Energy Services Reu | 0.37% | 261,910 | $4.1M | New |
| NVS Novartis AG-Sponsored ADR | 0.35% | 28,508 | $3.9M | Reduce -1.1% |
| JPST JPMorgan Ultra-Short Income | 0.35% | 77,063 | $3.9M | Add +30.6% |
| MNST Monster Beverage Corp. | 0.34% | 50,286 | $3.9M | Reduce -0.0% |
| AEP American Electric Power | 0.34% | 33,395 | $3.9M | Reduce -0.1% |
| AMGN Amgen Inc. | 0.34% | 11,618 | $3.8M | Add +2.5% |
| CAT Caterpillar Inc. | 0.34% | 6,620 | $3.8M | Reduce -0.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.33% | 14,320 | $3.7M | Reduce -0.7% |
| BX Blackstone Inc. | 0.33% | 24,017 | $3.7M | Reduce -1.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.32% | 43,739 | $3.6M | Add +538.5% |
| UNP Union Pacific Corp. | 0.32% | 15,635 | $3.6M | Add +1.7% |
| YUM Yum! Brands Inc. | 0.31% | 22,998 | $3.5M | Add +0.5% |
| EVRG Evergy Inc. | 0.31% | 47,891 | $3.5M | Add +0.4% |
| LOW Lowe's Cos Inc. | 0.31% | 14,220 | $3.4M | Reduce -45.9% |
| CTVA Corteva Inc. | 0.30% | 50,517 | $3.4M | Add +0.6% |
| RPRX Royalty Pharma PLC Class A | 0.30% | 86,318 | $3.3M | Add +1.9% |
| ZM Zoom Communications Inc. | 0.30% | 38,343 | $3.3M | New |
| MAS Masco Corp. | 0.29% | 51,549 | $3.3M | Reduce -46.6% |
| WMT Walmart Inc. | 0.29% | 28,671 | $3.2M | Reduce -0.4% |
| PRI Primerica Inc. | 0.28% | 12,270 | $3.2M | New |
| GGG Graco Inc. | 0.28% | 38,515 | $3.2M | New |
| DTE DTE Energy Company | 0.28% | 24,383 | $3.1M | New |
| CL Colgate-Palmolive Co. | 0.28% | 39,659 | $3.1M | Reduce -46.4% |
| ADM Archer-Daniels-Midland Co. | 0.28% | 54,321 | $3.1M | New |
| CCK Crown Holdings Inc. | 0.28% | 30,120 | $3.1M | Add +2.0% |
Other holdings (3): bonds, preferreds, convertibles and warrants · $16.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 226,779 | $15.7M | Add +2.1% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 364 | $441K | Reduce -0.6% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 329 | $412K | Reduce -3.2% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q3 2025 → Q4 2025
| VBIL Vanguard 0-3M T-Bill ETF | Reduce -16.4% | 11.70% | −3.13 |
| PAAS Pan American Silver Corp. | Reduce -97.6% | 0.05% | −1.58 |
| AEM Agnico Eagle Mines Ltd. | Reduce -47.0% | 1.31% | −1.28 |
| COP Conocophillips | Reduce -55.1% | 0.62% | −0.86 |
| NGD New Gold Inc. | Reduce -81.3% | 0.21% | −0.77 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.74 |
| NOG Northern Oil and Gas Inc. | Sold out | 0.00% | −0.51 |
| MSFT Microsoft Corp. | Reduce -0.4% | 3.37% | −0.46 |
| RGLD Royal Gold Inc. | Reduce -31.6% | 1.15% | −0.46 |
| FRO Frontline PLC | Sold out | 0.00% | −0.45 |
| IAU iShares Gold Trust | Reduce -12.0% | 5.81% | −0.45 |
| DSTL Distillate US Fundamental St | Reduce -27.3% | 0.84% | −0.36 |
| MAS Masco Corp. | Reduce -46.6% | 0.29% | −0.35 |
| LOW Lowe's Cos Inc. | Reduce -45.9% | 0.31% | −0.32 |
| KMB Kimberly-Clark Corp. | Reduce -84.0% | 0.04% | −0.31 |
| ADBE Adobe Inc. | Reduce -32.7% | 0.50% | −0.29 |
| CL Colgate-Palmolive Co. | Reduce -46.4% | 0.28% | −0.28 |
| KOF Coca-Cola Femsa Sab-SP ADR | Sold out | 0.00% | −0.27 |
| ABEV Ambev SA-ADR | Sold out | 0.00% | −0.26 |
| INGR Ingredion Inc. | Sold out | 0.00% | −0.26 |
| GDXJ Vaneck Junior Gold Miners | Reduce -78.4% | 0.07% | −0.21 |
| GDX Vaneck Gold Miners ETF | Reduce -33.6% | 0.44% | −0.18 |
| NOW ServiceNow Inc. | Reduce -0.5% | 0.47% | −0.13 |
| AJG Arthur J Gallagher & Co. | Reduce -0.7% | 0.33% | −0.09 |
| UL Unilever PLC-Sponsored ADR | Reduce -4.5% | 0.68% | −0.09 |
| TPYP Tortoise North American Pipe | Reduce -4.0% | 0.53% | −0.07 |
| CI The Cigna Group | Reduce -1.5% | 0.50% | −0.06 |
| BX Blackstone Inc. | Reduce -1.0% | 0.33% | −0.06 |
| WMB Williams Cos Inc. | Reduce -8.8% | 0.26% | −0.06 |
| AVGO Broadcom Inc. | Reduce -17.1% | 0.26% | −0.06 |
| TBIL F/M US Treasury 3 Month Bill | Reduce -31.3% | 0.09% | −0.05 |
| NFLX Netflix Inc. | Reduce -47.9% | 0.03% | −0.05 |
| KMI Kinder Morgan Inc. | Reduce -0.6% | 0.46% | −0.04 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -23.6% | 0.10% | −0.04 |
| ABBV Abbvie Inc. | Reduce -0.9% | 0.47% | −0.04 |
| MCD McDonald's Corp. | Reduce -0.2% | 0.71% | −0.04 |
| MSI Motorola Solutions Inc. | Reduce -9.3% | 0.09% | −0.03 |
| AU Anglogold Ashanti PLC | Reduce -36.4% | 0.09% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -10.2% | 0.19% | −0.03 |
| RSP Invesco S&P 500 Equal Weight | Reduce -1.7% | 0.40% | −0.03 |
| JXN Jackson Financial Inc. Class A | Reduce -12.1% | 0.15% | −0.02 |
| SCHD Schwab US DVD Equity ETF | Reduce -24.0% | 0.05% | −0.02 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -10.6% | 0.16% | −0.02 |
| B Barrick Mining Corp. | Reduce -33.9% | 0.10% | −0.02 |
| NVDA Nvidia Corp. | Reduce -2.8% | 0.22% | −0.02 |
| GWW WW Grainger Inc. | Reduce -40.8% | 0.03% | −0.02 |
| CLX Clorox Company | Reduce -15.3% | 0.03% | −0.02 |
| KR Kroger Co. | Reduce -0.3% | 0.10% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| BHP BHP Group Ltd.-Spon ADR | New | 0.65% | +0.65 |
| GSK GSK PLC-Spon ADR | New | 0.63% | +0.63 |
| PRU Prudential Financial Inc. | New | 0.58% | +0.58 |
| UAN CVR Partners LP | Add +2439.6% | 0.60% | +0.58 |
| INTU Intuit Inc. | Add +120.8% | 1.13% | +0.57 |
| BBY Best Buy Co. Inc. | New | 0.56% | +0.56 |
| SLV iShares Silver Trust | Add +3.7% | 1.69% | +0.56 |
| ADP Automatic Data Processing | Add +401.7% | 0.70% | +0.53 |
| UBER Uber Technologies Inc. | New | 0.53% | +0.53 |
| AR Antero Resources Corp. | New | 0.45% | +0.45 |
| PBR Petroleo Brasileiro-Spon ADR | New | 0.44% | +0.44 |
| BKNG Booking Holdings Inc. | Add +87.8% | 0.96% | +0.42 |
| LYB Lyondellbasell Indu Class A | New | 0.41% | +0.41 |
| MELI MercadoLibre Inc. | Add +1995.3% | 0.40% | +0.38 |
| NESR National Energy Services Reu | New | 0.37% | +0.37 |
| ABNB Airbnb Inc. Class A | Add +122.9% | 0.61% | +0.35 |
| UGI Ugi Corp. | Add +39.1% | 1.03% | +0.33 |
| ACGL Arch Capital Group Ltd. | Add +83.7% | 0.72% | +0.33 |
| LNG Cheniere Energy Inc. | Add +99.1% | 0.87% | +0.31 |
| ZM Zoom Communications Inc. | New | 0.30% | +0.30 |
| PRI Primerica Inc. | New | 0.28% | +0.28 |
| GGG Graco Inc. | New | 0.28% | +0.28 |
| DTE DTE Energy Company | New | 0.28% | +0.28 |
| ADM Archer-Daniels-Midland Co. | New | 0.28% | +0.28 |
| DPZ Domino's Pizza Inc. | New | 0.28% | +0.28 |
| HL Hecla Mining Co. | Add +3.3% | 0.76% | +0.27 |
| SHY iShares 1-3 Year Treasury Bo | Add +538.5% | 0.32% | +0.27 |
| CHKP Check Point Software Tech | New | 0.27% | +0.27 |
| ADSK Autodesk Inc. | New | 0.26% | +0.26 |
| ZS Zscaler Inc. | New | 0.26% | +0.26 |
| BMY Bristol-Myers Squibb Co. | Add +24.9% | 0.86% | +0.25 |
| FNV Franco-Nevada Corp. | Add +76.0% | 0.65% | +0.23 |
| DGRW Wisdomtree U.S. Quality Divi | New | 0.23% | +0.23 |
| NTR Nutrien Ltd. | Add +35.2% | 0.79% | +0.20 |
| LNC Lincoln National Corp. | Add +22.1% | 0.92% | +0.20 |
| TFLO iShares Treasury Floating Ra | Add +50.0% | 0.67% | +0.20 |
| VRSN Verisign Inc. | Add +81.9% | 0.59% | +0.19 |
| VICI Vici Properties Inc. | Add +75.4% | 0.60% | +0.18 |
| VALE Vale SA-SP ADR | Add +10.0% | 0.64% | +0.13 |
| BUL Pacer US Cash Cows Growth | New | 0.12% | +0.12 |
| GLD SPDR Gold Shares | Add +10.3% | 0.68% | +0.10 |
| REGN Regeneron Pharmaceuticals | Add +1.5% | 0.37% | +0.09 |
| RIO Rio Tinto PLC-Spon ADR | Add +5.6% | 0.49% | +0.08 |
| AZN Astrazeneca PLC-Spons ADR | Add +0.9% | 0.64% | +0.08 |
| MPLX MPLX LP | Add +3.0% | 1.93% | +0.08 |
| MCO Moody's Corp. | Add +3.3% | 1.55% | +0.07 |
| JPST JPMorgan Ultra-Short Income | Add +30.6% | 0.35% | +0.07 |
| UNH Unitedhealth Group Inc. | New | 0.06% | +0.06 |
| AMLP Alerian MLP ETF | Add +11.8% | 0.95% | +0.05 |
| LUV Southwest Airlines Co. | New | 0.05% | +0.05 |
Notes & Other Activity Q3 2025 → Q4 2025
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +2.1% | 226,779 | $15.7M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -0.6% | 364 | $441K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -3.2% | 329 | $412K |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | Sold out | 50,610 | $962before exit |
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 |