Paradigm Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Paradigm Capital Management, LLC reported 59 stock positions worth $99.7 million. Its top holding was Vanguard Dividend Apprec ETF (VIG) at 12.5% of the portfolio, followed by JPMorgan Ultra-Short Income (JPST, 12.1%) and Vanguard High DVD Yield ETF (VYM, 8.6%). Compared with Q2 2025, it opened 4 new positions, sold out of 4, added to 9 and reduced 41. The biggest buy was JPMorgan Ultra-Short Income (JPST, shares +13%) and the biggest sale Vanguard Dividend Apprec ETF (VIG, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- RENO, NV
- CIK
- 0001910312
- Portfolio Value
- $99.7M (Q3 2025)
- SEC Filing
- 0001910312-25-000005 ↗ filed Nov 6, 2025
Holdings Value
Holdings 59 stocks · $99.7M
| VIG Vanguard Dividend Apprec ETF | 12.54% | 57,924 | $12.5M | Reduce -9.7% |
| JPST JPMorgan Ultra-Short Income | 12.12% | 238,190 | $12.1M | Add +13.3% |
| VYM Vanguard High DVD Yield ETF | 8.60% | 60,809 | $8.6M | Reduce -6.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.51% | 10,922 | $5.5M | Reduce -7.1% |
| SCHD Schwab US DVD Equity ETF | 3.96% | 144,649 | $3.9M | Reduce -9.5% |
| VHT Vanguard Health Care ETF | 3.76% | 14,424 | $3.7M | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 3.43% | 10,826 | $3.4M | Reduce -10.8% |
| VZ Verizon Communications Inc. | 2.74% | 62,225 | $2.7M | Reduce -9.3% |
| GOOG Alphabet Inc. Class C | 2.70% | 11,054 | $2.7M | Reduce -15.3% |
| MSFT Microsoft Corp. | 2.60% | 4,997 | $2.6M | Reduce -12.3% |
| MRK Merck & Co. Inc. | 2.58% | 30,689 | $2.6M | Add +4.5% |
| AAPL Apple Inc. | 2.57% | 10,046 | $2.6M | Reduce -13.2% |
| KMI Kinder Morgan Inc. | 1.95% | 68,780 | $1.9M | Reduce -11.3% |
| CVX Chevron Corp. | 1.90% | 12,214 | $1.9M | Reduce -14.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.86% | 2,783 | $1.9M | Add +103.0% |
| MO Altria Group Inc. | 1.81% | 27,372 | $1.8M | Reduce -13.0% |
| QQQ Invesco QQQ Trust Series 1 | 1.81% | 2,998 | $1.8M | Add +121.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.69% | 32,587 | $1.7M | Reduce -6.5% |
| T AT&T Inc. | 1.58% | 55,927 | $1.6M | Reduce -7.8% |
| JNJ Johnson & Johnson | 1.58% | 8,505 | $1.6M | Reduce -11.4% |
| SCHG Schwab US Large-Cap Growth | 1.48% | 46,388 | $1.5M | Add +0.1% |
| USB US Bancorp | 1.38% | 28,403 | $1.4M | Reduce -18.4% |
| XOM Exxon Mobil Corp. | 1.34% | 11,867 | $1.3M | Reduce -12.9% |
| AMGN Amgen Inc. | 1.26% | 4,465 | $1.3M | Reduce -11.0% |
| OKE Oneok Inc. | 1.17% | 16,032 | $1.2M | Add +27.2% |
| V Visa Inc. Class A | 1.06% | 3,088 | $1.1M | Reduce -10.3% |
| MET Metlife Inc. | 0.94% | 11,331 | $933K | Reduce -15.9% |
| MCD McDonald's Corp. | 0.92% | 3,025 | $919K | No change |
| PM Philip Morris International | 0.89% | 5,447 | $884K | Reduce -22.4% |
| TFC Truist Financial Corp. | 0.88% | 19,095 | $873K | Reduce -21.6% |
| GS Goldman Sachs Group Inc. | 0.84% | 1,057 | $842K | Reduce -32.8% |
| DUK Duke Energy Corp. | 0.77% | 6,234 | $771K | Reduce -8.8% |
| META Meta Platforms Inc. Class A | 0.73% | 996 | $731K | Reduce -1.9% |
| PFE Pfizer Inc. | 0.61% | 23,801 | $607K | Reduce -39.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.58% | 1,748 | $574K | Reduce -5.4% |
| COST Costco Wholesale Corp. | 0.55% | 597 | $552K | Reduce -4.6% |
| AMZN Amazon.com Inc. | 0.47% | 2,150 | $472K | Add +3.6% |
| HD Home Depot Inc. | 0.46% | 1,141 | $462K | No change |
| AIG American International Group | 0.42% | 5,268 | $414K | Reduce -41.5% |
| HPQ HP Inc. | 0.40% | 14,606 | $398K | Reduce -22.9% |
| VTS Vitesse Energy Inc. | 0.39% | 16,885 | $392K | Reduce -19.5% |
| APA Apa Corp. | 0.38% | 15,625 | $379K | New |
| TSLA Tesla Inc. | 0.37% | 836 | $372K | No change |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.36% | 11,000 | $359K | Add +47.2% |
| PEP Pepsico Inc. | 0.36% | 2,535 | $356K | Reduce -13.6% |
| CB Chubb Ltd. | 0.32% | 1,135 | $320K | Reduce -25.3% |
| AMAT Applied Materials Inc. | 0.32% | 1,537 | $315K | Reduce -24.5% |
| CEF Sprott Physical Gold and Sil | 0.30% | 8,145 | $299K | No change |
| CSCO Cisco Systems Inc. | 0.30% | 4,359 | $298K | Reduce -20.9% |
| VOO Vanguard S&P 500 ETF | 0.29% | 480 | $294K | New |
| NVS Novartis AG-Sponsored ADR | 0.29% | 2,275 | $292K | Reduce -18.0% |
| WFC Wells Fargo & Co. | 0.29% | 3,470 | $291K | Reduce -11.3% |
| WPM Wheaton Precious Metals Corp. | 0.28% | 2,500 | $280K | New |
| D Dominion Energy Inc. | 0.27% | 4,475 | $274K | New |
| RTX RTX Corp. | 0.27% | 1,591 | $266K | Reduce -10.4% |
| UBER Uber Technologies Inc. | 0.22% | 2,260 | $221K | Add +2.0% |
| IVV iShares Core S&P 500 ETF | 0.20% | 301 | $202K | Reduce -12.8% |
| VXUS Vanguard Total Intl Stock | 0.20% | 2,750 | $202K | Reduce -8.3% |
| BLE BlackRock Muni Inc. TR II | 0.11% | 10,000 | $105K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 961 | $1.2M | Reduce -12.9% |
Total filed on the 13F, all lines: $100.9M.
Portfolio Sells Q2 2025 → Q3 2025
| VIG Vanguard Dividend Apprec ETF | Reduce -9.7% | 12.54% | −0.61 |
| PM Philip Morris International | Reduce -22.4% | 0.89% | −0.39 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.37 |
| AIG American International Group | Reduce -41.5% | 0.42% | −0.36 |
| PFE Pfizer Inc. | Reduce -39.4% | 0.61% | −0.35 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.33 |
| KMI Kinder Morgan Inc. | Reduce -11.3% | 1.95% | −0.33 |
| TROW T Rowe Price Group Inc. | Sold out | 0.00% | −0.31 |
| SCHD Schwab US DVD Equity ETF | Reduce -9.5% | 3.96% | −0.28 |
| GS Goldman Sachs Group Inc. | Reduce -32.8% | 0.84% | −0.27 |
| MSFT Microsoft Corp. | Reduce -12.3% | 2.60% | −0.24 |
| VZ Verizon Communications Inc. | Reduce -9.3% | 2.74% | −0.23 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -7.1% | 5.51% | −0.21 |
| USB US Bancorp | Reduce -18.4% | 1.38% | −0.20 |
| F Ford Motor Co. | Sold out | 0.00% | −0.19 |
| T AT&T Inc. | Reduce -7.8% | 1.58% | −0.17 |
| TFC Truist Financial Corp. | Reduce -21.6% | 0.88% | −0.17 |
| V Visa Inc. Class A | Reduce -10.3% | 1.06% | −0.17 |
| MET Metlife Inc. | Reduce -15.9% | 0.94% | −0.15 |
| CVX Chevron Corp. | Reduce -14.5% | 1.90% | −0.14 |
| AMGN Amgen Inc. | Reduce -11.0% | 1.26% | −0.14 |
| XOM Exxon Mobil Corp. | Reduce -12.9% | 1.34% | −0.13 |
| CB Chubb Ltd. | Reduce -25.3% | 0.32% | −0.12 |
| JPM JPMorgan Chase & Co. | Reduce -10.8% | 3.43% | −0.10 |
| VYM Vanguard High DVD Yield ETF | Reduce -6.6% | 8.60% | −0.09 |
| CSCO Cisco Systems Inc. | Reduce -20.9% | 0.30% | −0.08 |
| VTS Vitesse Energy Inc. | Reduce -19.5% | 0.39% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -4.6% | 0.55% | −0.07 |
| HPQ HP Inc. | Reduce -22.9% | 0.40% | −0.07 |
| AMAT Applied Materials Inc. | Reduce -24.5% | 0.32% | −0.06 |
| NVS Novartis AG-Sponsored ADR | Reduce -18.0% | 0.29% | −0.04 |
| MO Altria Group Inc. | Reduce -13.0% | 1.81% | −0.03 |
| DUK Duke Energy Corp. | Reduce -8.8% | 0.77% | −0.03 |
| PEP Pepsico Inc. | Reduce -13.6% | 0.36% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -11.3% | 0.29% | −0.02 |
| META Meta Platforms Inc. Class A | Reduce -1.9% | 0.73% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -12.8% | 0.20% | −0.01 |
| VXUS Vanguard Total Intl Stock | Reduce -8.3% | 0.20% | −0.00 |
| RTX RTX Corp. | Reduce -10.4% | 0.27% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -5.4% | 0.58% | +0.01 |
| BAC Bank of America Corp. | Reduce -6.5% | 1.69% | +0.04 |
| JNJ Johnson & Johnson | Reduce -11.4% | 1.58% | +0.11 |
| VHT Vanguard Health Care ETF | Reduce -0.3% | 3.76% | +0.16 |
| AAPL Apple Inc. | Reduce -13.2% | 2.57% | +0.19 |
| GOOG Alphabet Inc. Class C | Reduce -15.3% | 2.70% | +0.38 |
Portfolio Buys Q2 2025 → Q3 2025
| JPST JPMorgan Ultra-Short Income | Add +13.3% | 12.12% | +1.46 |
| QQQ Invesco QQQ Trust Series 1 | Add +121.4% | 1.81% | +1.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +103.0% | 1.86% | +1.01 |
| APA Apa Corp. | New | 0.38% | +0.38 |
| VOO Vanguard S&P 500 ETF | New | 0.29% | +0.29 |
| WPM Wheaton Precious Metals Corp. | New | 0.28% | +0.28 |
| D Dominion Energy Inc. | New | 0.27% | +0.27 |
| MRK Merck & Co. Inc. | Add +4.5% | 2.58% | +0.26 |
| OKE Oneok Inc. | Add +27.2% | 1.17% | +0.14 |
| SCHG Schwab US Large-Cap Growth | Add +0.1% | 1.48% | +0.13 |
| VICI Vici Properties Inc. | Add +47.2% | 0.36% | +0.12 |
| AMZN Amazon.com Inc. | Add +3.6% | 0.47% | +0.02 |
| UBER Uber Technologies Inc. | Add +2.0% | 0.22% | +0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -12.9% | 961 | $1.2M |
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 | 64 | $115.1M | VIG, JPST, VYM, SCHD, VHT |
| Q1 2026 | 58 | $108.0M | JPST, VIG, VYM, SCHD, BRK.B |
| Q4 2025 | 62 | $106.4M | VIG, JPST, VYM, BRK.B, VHT |
| Q3 2025 | 59 | $99.7M | VIG, JPST, VYM, BRK.B, SCHD |
| Q2 2025 | 59 | $99.9M | VIG, JPST, VYM, BRK.B, SCHD |
| Q1 2025 | 54 | $96.3M | VIG, JPST, VYM, BRK.B, SCHD |
| Q4 2024 | 56 | $105.5M | VIG, VYM, JPST, SCHD, BRK.B |
| Q3 2024 | 57 | $103.4M | VIG, VYM, JPST, SCHD, BRK.B |