Paragon Capital Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Paragon Capital Management Inc. reported 74 stock positions worth $129.3 million. Its top holding was iShares 7-10 Year Treasury B (IEF) at 9.1% of the portfolio, followed by iShares 0-1 Year Treasury Bo (SHV, 8.5%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 5.9%). Compared with Q3 2025, it opened 15 new positions, sold out of 13, added to 13 and reduced 42. The biggest buy was a new position in Flowserve (FLS) and the biggest sale an exit from HF Sinclair (DINO).
- Most Recent 13F
- Q2 2026
- Location
- Provo, UT
- CIK
- 0002038506
- Portfolio Value
- $129.3M (Q4 2025)
- SEC Filing
- 0002038506-26-000001 ↗ filed Jan 23, 2026
Holdings Value
Holdings 74 stocks · $129.3M
| IEF iShares 7-10 Year Treasury B | 9.14% | 122,912 | $11.8M | Add +1.6% |
| SHV iShares 0-1 Year Treasury Bo | 8.53% | 100,078 | $11.0M | Reduce -1.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 5.87% | 83,106 | $7.6M | Reduce -1.2% |
| JAAA Janus Henderson Aaa Clo ETF | 4.69% | 119,937 | $6.1M | Add +2.4% |
| GOVT iShares US Treasury Bond ETF | 3.43% | 192,636 | $4.4M | Add +0.9% |
| TOTL SS Doubleline TR Tact ETF | 3.11% | 99,784 | $4.0M | Add +1.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 2.34% | 6,295 | $3.0M | Reduce -14.6% |
| VB Vanguard Most SM-Cap ETF-Usd | 2.23% | 11,176 | $2.9M | Reduce -13.3% |
| VTI VG Morningstar TS MKT ETF-US | 2.10% | 8,082 | $2.7M | Add +86.6% |
| STOT SS DL St Dur TR Tact ETF | 2.01% | 55,007 | $2.6M | Add +1.5% |
| META Meta Platforms Inc. Class A | 1.86% | 3,644 | $2.4M | Reduce -7.8% |
| ORLY O'reilly Automotive Inc. | 1.74% | 24,650 | $2.2M | Reduce -7.4% |
| BKNG Booking Holdings Inc. | 1.61% | 389 | $2.1M | Reduce -5.1% |
| IDXX Idexx Laboratories Inc. | 1.58% | 3,016 | $2.0M | Reduce -13.0% |
| MELI MercadoLibre Inc. | 1.49% | 955 | $1.9M | Reduce -14.6% |
| FLS Flowserve Corp. | 1.43% | 26,627 | $1.8M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.41% | 108,770 | $1.8M | Reduce -11.6% |
| LYFT LYFT Inc. Class A | 1.38% | 92,208 | $1.8M | Reduce -13.7% |
| SGOV iShares 0-3 Month Treasury B | 1.34% | 17,200 | $1.7M | New |
| EXEL Exelixis Inc. | 1.33% | 39,101 | $1.7M | Reduce -11.2% |
| RPRX Royalty Pharma PLC Class A | 1.32% | 44,254 | $1.7M | Reduce -10.2% |
| EME Emcor Group Inc. | 1.27% | 2,678 | $1.6M | Reduce -11.1% |
| XLV SS Health Care Select Sector | 1.26% | 10,536 | $1.6M | Add +0.3% |
| TRV The Travelers Cos Inc. | 1.26% | 5,601 | $1.6M | Reduce -11.0% |
| MRK Merck & Co. Inc. | 1.25% | 15,373 | $1.6M | Reduce -10.7% |
| CFG Citizens Financial Group | 1.25% | 27,661 | $1.6M | New |
| VLO Valero Energy Corp. | 1.22% | 9,656 | $1.6M | Reduce -11.8% |
| GOOGL Alphabet Inc. Class A | 1.21% | 5,018 | $1.6M | Reduce -11.8% |
| UHS Universal Health Services-B | 1.18% | 6,997 | $1.5M | Reduce -10.8% |
| UBER Uber Technologies Inc. | 1.17% | 18,465 | $1.5M | Reduce -10.3% |
| AZO AutoZone Inc. | 1.11% | 422 | $1.4M | Reduce -7.9% |
| ROP Roper Technologies Inc. | 1.09% | 3,171 | $1.4M | New |
| TDG Transdigm Group Inc. | 1.04% | 1,014 | $1.3M | Reduce -6.7% |
| MTD Mettler-Toledo International | 1.02% | 946 | $1.3M | Reduce -5.6% |
| TTWO Take-Two Interactive Softwre | 0.99% | 4,977 | $1.3M | Reduce -10.3% |
| DASH DoorDash Inc. Class A | 0.99% | 5,624 | $1.3M | Reduce -9.3% |
| HALO Halozyme Therapeutics Inc. | 0.98% | 18,920 | $1.3M | New |
| NVR NVR Inc. | 0.94% | 167 | $1.2M | Reduce -6.7% |
| STXF Strive 500 ETF | 0.93% | 27,317 | $1.2M | Add +0.4% |
| BMRN Biomarin Pharmaceutical Inc. | 0.92% | 20,040 | $1.2M | New |
| DSL Doubleline Income Solutions | 0.92% | 105,585 | $1.2M | Add +17.1% |
| BIRK Birkenstock Holding PLC | 0.91% | 28,864 | $1.2M | New |
| BIIB Biogen Inc. | 0.91% | 6,686 | $1.2M | New |
| AMZN Amazon.com Inc. | 0.89% | 4,965 | $1.1M | Reduce -8.7% |
| TYL Tyler Technologies Inc. | 0.84% | 2,400 | $1.1M | Reduce -2.7% |
| CTRA Coterra Energy Inc. | 0.84% | 41,369 | $1.1M | New |
| TLT iShares 20+ Year Treasury BD | 0.80% | 11,901 | $1.0M | Reduce -0.4% |
| EEFT Euronet Worldwide Inc. | 0.79% | 13,370 | $1.0M | Reduce -5.5% |
| CHRD Chord Energy Corp. | 0.78% | 10,872 | $1.0M | Reduce -6.7% |
| STXK Strive Small-Cap ETF | 0.76% | 29,680 | $987K | Add +3.5% |
| AVGO Broadcom Inc. | 0.73% | 2,725 | $943K | Reduce -9.0% |
| ONEQ Fidelity Nasdaq Comp Indx | 0.72% | 10,156 | $928K | Add +0.3% |
| ZS Zscaler Inc. | 0.67% | 3,860 | $868K | New |
| GPN Global Payments Inc. | 0.67% | 11,181 | $865K | New |
| CRWD CrowdStrike Holdings Inc. Class A | 0.66% | 1,823 | $855K | Reduce -9.5% |
| ARM Arm Holdings PLC-ADR | 0.64% | 7,554 | $826K | New |
| PLTR Palantir Technologies Inc. Class A | 0.64% | 4,644 | $825K | Reduce -11.2% |
| NFLX Netflix Inc. | 0.62% | 8,577 | $804K | Reduce -28.4% |
| STXV Strive 1000 Value ETF | 0.60% | 23,177 | $775K | Add +3.9% |
| APP AppLovin Corp. Class A | 0.55% | 1,046 | $705K | Reduce -9.8% |
| TSLA Tesla Inc. | 0.51% | 1,470 | $661K | Reduce -10.4% |
| NVDA Nvidia Corp. | 0.50% | 3,491 | $651K | New |
| AXON Axon Enterprise Inc. | 0.50% | 1,139 | $647K | Reduce -6.2% |
| AMD Advanced Micro Devices | 0.40% | 2,432 | $521K | New |
| TEAM Atlassian Corp. Class A | 0.38% | 3,044 | $494K | Reduce -5.2% |
| STXE Strive Em Markets Ex-China | 0.36% | 13,026 | $468K | Add +3.4% |
| T AT&T Inc. | 0.28% | 14,500 | $360K | No change |
| GLD SPDR Gold Shares | 0.23% | 734 | $291K | No change |
| NEAR iShares SH Dba ETF Usd Inc. | 0.20% | 5,184 | $265K | Reduce -8.2% |
| INTC Intel Corp. | 0.20% | 7,173 | $265K | Reduce -3.2% |
| NLY Annaly Capital Management Inc. | 0.16% | 9,532 | $213K | New |
| AG First Majestic Silver Corp. | 0.13% | 10,000 | $167K | No change |
| RC Ready Capital Corp. | 0.12% | 70,000 | $153K | Reduce -31.4% |
| SFL SFL Corp. Ltd. | 0.07% | 11,500 | $90K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| DINO HF Sinclair Corp. | Sold out | 0.00% | −1.58 |
| FSLR First Solar Inc. | Sold out | 0.00% | −1.46 |
| PGR Progressive Corp. | Sold out | 0.00% | −1.08 |
| GAP The Gap Inc. | Sold out | 0.00% | −1.05 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −1.00 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.91 |
| CROX Crocs Inc. | Sold out | 0.00% | −0.89 |
| DXC DXC Technology Co. | Sold out | 0.00% | −0.78 |
| ISRG Intuitive Surgical Inc. | Sold out | 0.00% | −0.66 |
| MELI MercadoLibre Inc. | Reduce -14.6% | 1.49% | −0.47 |
| NFLX Netflix Inc. | Reduce -28.4% | 0.62% | −0.45 |
| ORLY O'reilly Automotive Inc. | Reduce -7.4% | 1.74% | −0.41 |
| LYFT LYFT Inc. Class A | Reduce -13.7% | 1.38% | −0.38 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.37 |
| AZO AutoZone Inc. | Reduce -7.9% | 1.11% | −0.36 |
| VSTS Vestis Corp. | Sold out | 0.00% | −0.35 |
| UBER Uber Technologies Inc. | Reduce -10.3% | 1.17% | −0.34 |
| META Meta Platforms Inc. Class A | Reduce -7.8% | 1.86% | −0.31 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.30 |
| DASH DoorDash Inc. Class A | Reduce -9.3% | 0.99% | −0.28 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.27 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -13.3% | 2.23% | −0.22 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -14.6% | 2.34% | −0.22 |
| EME Emcor Group Inc. | Reduce -11.1% | 1.27% | −0.20 |
| VLO Valero Energy Corp. | Reduce -11.8% | 1.22% | −0.18 |
| RC Ready Capital Corp. | Reduce -31.4% | 0.12% | −0.18 |
| AXON Axon Enterprise Inc. | Reduce -6.2% | 0.50% | −0.15 |
| EEFT Euronet Worldwide Inc. | Reduce -5.5% | 0.79% | −0.14 |
| NVR NVR Inc. | Reduce -6.7% | 0.94% | −0.13 |
| TYL Tyler Technologies Inc. | Reduce -2.7% | 0.84% | −0.12 |
| TTWO Take-Two Interactive Softwre | Reduce -10.3% | 0.99% | −0.09 |
| CHRD Chord Energy Corp. | Reduce -6.7% | 0.78% | −0.09 |
| IDXX Idexx Laboratories Inc. | Reduce -13.0% | 1.58% | −0.08 |
| APP AppLovin Corp. Class A | Reduce -9.8% | 0.55% | −0.08 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -9.5% | 0.66% | −0.08 |
| PLTR Palantir Technologies Inc. Class A | Reduce -11.2% | 0.64% | −0.08 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -11.6% | 1.41% | −0.06 |
| TRV The Travelers Cos Inc. | Reduce -11.0% | 1.26% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -5.1% | 1.61% | −0.04 |
| EXEL Exelixis Inc. | Reduce -11.2% | 1.33% | −0.04 |
| TSLA Tesla Inc. | Reduce -10.4% | 0.51% | −0.03 |
| TDG Transdigm Group Inc. | Reduce -6.7% | 1.04% | −0.03 |
| UHS Universal Health Services-B | Reduce -10.8% | 1.18% | −0.02 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -8.2% | 0.20% | −0.01 |
| AVGO Broadcom Inc. | Reduce -9.0% | 0.73% | −0.01 |
| AMZN Amazon.com Inc. | Reduce -8.7% | 0.89% | −0.01 |
| TEAM Atlassian Corp. Class A | Reduce -5.2% | 0.38% | −0.00 |
| TLT iShares 20+ Year Treasury BD | Reduce -0.4% | 0.80% | +0.00 |
| INTC Intel Corp. | Reduce -3.2% | 0.20% | +0.02 |
| RPRX Royalty Pharma PLC Class A | Reduce -10.2% | 1.32% | +0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| FLS Flowserve Corp. | New | 1.43% | +1.43 |
| SGOV iShares 0-3 Month Treasury B | New | 1.34% | +1.34 |
| CFG Citizens Financial Group | New | 1.25% | +1.25 |
| ROP Roper Technologies Inc. | New | 1.09% | +1.09 |
| VTI VG Morningstar TS MKT ETF-US | Add +86.6% | 2.10% | +1.03 |
| HALO Halozyme Therapeutics Inc. | New | 0.98% | +0.98 |
| BMRN Biomarin Pharmaceutical Inc. | New | 0.92% | +0.92 |
| BIRK Birkenstock Holding PLC | New | 0.91% | +0.91 |
| BIIB Biogen Inc. | New | 0.91% | +0.91 |
| CTRA Coterra Energy Inc. | New | 0.84% | +0.84 |
| ZS Zscaler Inc. | New | 0.67% | +0.67 |
| GPN Global Payments Inc. | New | 0.67% | +0.67 |
| ARM Arm Holdings PLC-ADR | New | 0.64% | +0.64 |
| NVDA Nvidia Corp. | New | 0.50% | +0.50 |
| IEF iShares 7-10 Year Treasury B | Add +1.6% | 9.14% | +0.41 |
| AMD Advanced Micro Devices | New | 0.40% | +0.40 |
| JAAA Janus Henderson Aaa Clo ETF | Add +2.4% | 4.69% | +0.24 |
| XLV SS Health Care Select Sector | Add +0.3% | 1.26% | +0.17 |
| NLY Annaly Capital Management Inc. | New | 0.16% | +0.16 |
| GOVT iShares US Treasury Bond ETF | Add +0.9% | 3.43% | +0.13 |
| TOTL SS Doubleline TR Tact ETF | Add +1.2% | 3.11% | +0.11 |
| DSL Doubleline Income Solutions | Add +17.1% | 0.92% | +0.09 |
| STOT SS DL St Dur TR Tact ETF | Add +1.5% | 2.01% | +0.09 |
| STXV Strive 1000 Value ETF | Add +3.9% | 0.60% | +0.06 |
| STXK Strive Small-Cap ETF | Add +3.5% | 0.76% | +0.05 |
| STXF Strive 500 ETF | Add +0.4% | 0.93% | +0.05 |
| STXE Strive Em Markets Ex-China | Add +3.4% | 0.36% | +0.05 |
| ONEQ Fidelity Nasdaq Comp Indx | Add +0.3% | 0.72% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 71 | $133.8M | IEF, SHV, BIL, INTC, JAAA |
| Q1 2026 | 70 | $118.0M | IEF, SHV, BIL, JAAA, GOVT |
| Q4 2025 | 74 | $129.3M | IEF, SHV, BIL, JAAA, GOVT |
| Q3 2025 | 72 | $133.7M | IEF, SHV, BIL, JAAA, GOVT |
| Q2 2025 | 71 | $131.1M | SHV, IEF, BIL, JAAA, GOVT |
| Q1 2025 | 72 | $123.8M | SHV, IEF, BIL, JAAA, GOVT |
| Q4 2024 | 66 | $127.9M | IEF, SHV, BIL, JAAA, GOVT |
| Q3 2024 | 67 | $135.6M | SHV, IEF, BIL, STOT, JAAA |
| Q2 2024 | 67 | $131.1M | SHV, BIL, IEF, STOT, GOVT |
| Q1 2024 | 69 | $133.6M | SHV, BIL, IEF, STOT, GOVT |