Paragon Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Paragon Capital Management LLC reported 59 stock positions worth $197.4 million. Its top holding was Apple (AAPL) at 11.0% of the portfolio, followed by iShares Russell 1000 ETF (IWB, 10.4%) and Microsoft (MSFT, 9.1%). Compared with Q3 2025, it opened 3 new positions, sold out of 2, added to 13 and reduced 39. The biggest buy was Umb Financial (UMBF, shares +24%) and the biggest sale Microsoft (MSFT, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- OVERLAND PARK, KS
- CIK
- 0001388437
- Portfolio Value
- $197.4M (Q4 2025)
- SEC Filing
- 0001388437-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 59 stocks · $197.4M
| AAPL Apple Inc. | 11.02% | 79,976 | $21.7M | Reduce -7.1% |
| IWB iShares Russell 1000 ETF | 10.37% | 54,814 | $20.5M | Reduce -6.1% |
| MSFT Microsoft Corp. | 9.12% | 37,218 | $18.0M | Reduce -7.5% |
| COST Costco Wholesale Corp. | 6.60% | 15,095 | $13.0M | Reduce -8.6% |
| CASY Casey's General Stores Inc. | 6.30% | 22,482 | $12.4M | Reduce -8.8% |
| AMZN Amazon.com Inc. | 4.90% | 41,917 | $9.7M | Reduce -6.9% |
| MCD McDonald's Corp. | 3.55% | 22,922 | $7.0M | Reduce -7.8% |
| COP Conocophillips | 3.44% | 72,566 | $6.8M | Reduce -4.2% |
| CSCO Cisco Systems Inc. | 3.41% | 87,310 | $6.7M | Reduce -7.4% |
| JNJ Johnson & Johnson | 3.36% | 32,035 | $6.6M | Reduce -7.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 3.03% | 38,928 | $6.0M | Reduce -7.6% |
| FDX FedEx Corp. | 2.78% | 19,008 | $5.5M | Reduce -9.5% |
| J Jacobs Solutions Inc. | 2.68% | 39,986 | $5.3M | Reduce -9.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.27% | 15,148 | $4.5M | Reduce -10.5% |
| GOOG Alphabet Inc. Class C | 1.91% | 12,000 | $3.8M | Reduce -6.8% |
| WMT Walmart Inc. | 1.87% | 33,153 | $3.7M | Reduce -0.5% |
| NKE Nike Inc. Class B | 1.65% | 51,185 | $3.3M | Reduce -8.2% |
| NVDA Nvidia Corp. | 1.52% | 16,079 | $3.0M | Reduce -1.6% |
| V Visa Inc. Class A | 1.47% | 8,250 | $2.9M | Reduce -8.5% |
| CVX Chevron Corp. | 1.33% | 17,270 | $2.6M | Reduce -3.7% |
| CBSH Commerce Bancshares Inc. | 1.13% | 42,757 | $2.2M | Add +5.7% |
| UMBF Umb Financial Corp. | 1.12% | 19,272 | $2.2M | Add +23.5% |
| IWM iShares Russell 2000 ETF | 1.08% | 8,620 | $2.1M | Add +0.1% |
| STEL Stellar Bancorp Inc. | 1.03% | 65,848 | $2.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.93% | 3,634 | $1.8M | Reduce -1.4% |
| C Citigroup Inc. | 0.92% | 15,551 | $1.8M | Reduce -13.7% |
| INTC Intel Corp. | 0.91% | 48,906 | $1.8M | Reduce -13.8% |
| UNH Unitedhealth Group Inc. | 0.87% | 5,185 | $1.7M | Reduce -0.4% |
| PSX Phillips 66 | 0.86% | 13,131 | $1.7M | Reduce -1.2% |
| CAT Caterpillar Inc. | 0.76% | 2,616 | $1.5M | Add +0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.69% | 24,847 | $1.4M | Reduce -8.9% |
| AMTM Amentum Holdings Inc. | 0.64% | 43,730 | $1.3M | Reduce -9.0% |
| XOM Exxon Mobil Corp. | 0.59% | 9,684 | $1.2M | Add +3.3% |
| DVN Devon Energy Corp. | 0.59% | 31,751 | $1.2M | Reduce -6.2% |
| BMY Bristol-Myers Squibb Co. | 0.44% | 15,923 | $859K | Reduce -8.8% |
| ADBE Adobe Inc. | 0.40% | 2,281 | $798K | Reduce -7.5% |
| XOP SS SPDR S&P Og Exp & Prod | 0.37% | 5,772 | $729K | Reduce -10.0% |
| GSEW Goldman Sachs Eql WGHT Large | 0.36% | 8,251 | $702K | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 0.34% | 2,162 | $677K | Add +20.2% |
| RTX RTX Corp. | 0.27% | 2,915 | $535K | Add +3.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.26% | 2,000 | $516K | Add +0.4% |
| XLK SS Technology Select Sector | 0.25% | 3,476 | $501K | Reduce -6.7% |
| BA The Boeing Co. | 0.24% | 2,165 | $470K | Add +0.7% |
| AVGO Broadcom Inc. | 0.20% | 1,117 | $387K | Add +2.4% |
| UNP Union Pacific Corp. | 0.19% | 1,597 | $369K | Reduce -0.9% |
| HD Home Depot Inc. | 0.18% | 1,035 | $356K | Add +9.8% |
| JPM JPMorgan Chase & Co. | 0.18% | 1,086 | $350K | Reduce -11.3% |
| SHEL Shell PLC-ADR | 0.18% | 4,712 | $346K | Add +0.7% |
| MDY State Street SPDR S&P Midcap | 0.17% | 563 | $340K | No change |
| T AT&T Inc. | 0.15% | 12,317 | $306K | Reduce -2.3% |
| IJR iShares Core S&P Small-Cap E | 0.15% | 2,534 | $305K | Reduce -6.3% |
| XEL Xcel Energy Inc. | 0.15% | 3,931 | $290K | No change |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.14% | 9,038 | $285K | Add +0.5% |
| LOW Lowe's Cos Inc. | 0.13% | 1,071 | $258K | No change |
| PG The Procter & Gamble Co. | 0.13% | 1,794 | $257K | Reduce -7.8% |
| BOND PIMCO Active Bond Exchange-T | 0.11% | 2,314 | $215K | New |
| LLY Eli Lilly & Co. | 0.11% | 195 | $210K | New |
| ORCL Oracle Corp. | 0.10% | 1,053 | $205K | Reduce -19.3% |
| ABBV Abbvie Inc. | 0.10% | 887 | $203K | New |
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -7.5% | 9.12% | −0.95 |
| COST Costco Wholesale Corp. | Reduce -8.6% | 6.60% | −0.79 |
| J Jacobs Solutions Inc. | Reduce -9.5% | 2.68% | −0.51 |
| CASY Casey's General Stores Inc. | Reduce -8.8% | 6.30% | −0.44 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.33 |
| NKE Nike Inc. Class B | Reduce -8.2% | 1.65% | −0.22 |
| CP Canadian Pacific Kansas City | Sold out | 0.00% | −0.11 |
| MCD McDonald's Corp. | Reduce -7.8% | 3.55% | −0.10 |
| ORCL Oracle Corp. | Reduce -19.3% | 0.10% | −0.07 |
| XOP SS SPDR S&P Og Exp & Prod | Reduce -10.0% | 0.37% | −0.04 |
| IBM Intl Business Machines Corp. | Reduce -10.5% | 2.27% | −0.03 |
| V Visa Inc. Class A | Reduce -8.5% | 1.47% | −0.02 |
| COP Conocophillips | Reduce -4.2% | 3.44% | −0.02 |
| T AT&T Inc. | Reduce -2.3% | 0.15% | −0.02 |
| ADBE Adobe Inc. | Reduce -7.5% | 0.40% | −0.02 |
| PSX Phillips 66 | Reduce -1.2% | 0.86% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -7.8% | 0.13% | −0.01 |
| CVX Chevron Corp. | Reduce -3.7% | 1.33% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -11.3% | 0.18% | −0.01 |
| INTC Intel Corp. | Reduce -13.8% | 0.91% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Reduce -6.3% | 0.15% | −0.00 |
| UNH Unitedhealth Group Inc. | Reduce -0.4% | 0.87% | −0.00 |
| XLK SS Technology Select Sector | Reduce -6.7% | 0.25% | 0.00 |
| UNP Union Pacific Corp. | Reduce -0.9% | 0.19% | +0.00 |
| GSEW Goldman Sachs Eql WGHT Large | Reduce -2.9% | 0.36% | +0.01 |
| BAC Bank of America Corp. | Reduce -8.9% | 0.69% | +0.01 |
| DVN Devon Energy Corp. | Reduce -6.2% | 0.59% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.4% | 0.93% | +0.03 |
| C Citigroup Inc. | Reduce -13.7% | 0.92% | +0.04 |
| NVDA Nvidia Corp. | Reduce -1.6% | 1.52% | +0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -8.8% | 0.44% | +0.05 |
| IWB iShares Russell 1000 ETF | Reduce -6.1% | 10.37% | +0.07 |
| AMTM Amentum Holdings Inc. | Reduce -9.0% | 0.64% | +0.09 |
| TJX TJX Companies Inc. | Reduce -7.6% | 3.03% | +0.09 |
| AMZN Amazon.com Inc. | Reduce -6.9% | 4.90% | +0.13 |
| WMT Walmart Inc. | Reduce -0.5% | 1.87% | +0.21 |
| JNJ Johnson & Johnson | Reduce -7.2% | 3.36% | +0.27 |
| CSCO Cisco Systems Inc. | Reduce -7.4% | 3.41% | +0.29 |
| FDX FedEx Corp. | Reduce -9.5% | 2.78% | +0.39 |
| GOOG Alphabet Inc. Class C | Reduce -6.8% | 1.91% | +0.39 |
| AAPL Apple Inc. | Reduce -7.1% | 11.02% | +0.43 |
Portfolio Buys Q3 2025 → Q4 2025
| UMBF Umb Financial Corp. | Add +23.5% | 1.12% | +0.23 |
| CAT Caterpillar Inc. | Add +0.6% | 0.76% | +0.16 |
| GOOGL Alphabet Inc. Class A | Add +20.2% | 0.34% | +0.13 |
| BOND PIMCO Active Bond Exchange-T | New | 0.11% | +0.11 |
| LLY Eli Lilly & Co. | New | 0.11% | +0.11 |
| ABBV Abbvie Inc. | New | 0.10% | +0.10 |
| XOM Exxon Mobil Corp. | Add +3.3% | 0.59% | +0.08 |
| IWM iShares Russell 2000 ETF | Add +0.1% | 1.08% | +0.07 |
| RTX RTX Corp. | Add +3.5% | 0.27% | +0.04 |
| AVGO Broadcom Inc. | Add +2.4% | 0.20% | +0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.4% | 0.26% | +0.02 |
| BA The Boeing Co. | Add +0.7% | 0.24% | +0.01 |
| SHEL Shell PLC-ADR | Add +0.7% | 0.18% | +0.01 |
| FNDA Schwab Fndmntl US SM Co. ETF | Add +0.5% | 0.14% | +0.01 |
| HD Home Depot Inc. | Add +9.8% | 0.18% | −0.00 |
| CBSH Commerce Bancshares Inc. | Add +5.7% | 1.13% | −0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 60 | $216.1M | AAPL, IWB, CASY, MSFT, COST |
| Q1 2026 | 57 | $202.0M | AAPL, IWB, CASY, COST, MSFT |
| Q4 2025 | 59 | $197.4M | AAPL, IWB, MSFT, COST, CASY |
| Q3 2025 | 58 | $207.1M | AAPL, IWB, MSFT, COST, CASY |
| Q2 2025 | 58 | $194.7M | MSFT, IWB, AAPL, COST, CASY |
| Q1 2025 | 50 | $174.8M | AAPL, IWB, COST, MSFT, CASY |
| Q4 2024 | 53 | $186.6M | AAPL, IWB, MSFT, COST, CASY |
| Q3 2024 | 60 | $193.3M | AAPL, IWB, MSFT, COST, CASY |
| Q2 2024 | 52 | $185.3M | MSFT, AAPL, IWB, COST, CASY |
| Q1 2024 | 53 | $185.6M | MSFT, IWB, AAPL, COST, COP |