Paragon Capital Management Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), Paragon Capital Management Ltd reported 194 stock positions worth $492.1 million. Its top holding was Vanguard Dividend Apprec ETF (VIG) at 13.8% of the portfolio, followed by Invesco S&P 500 Quality ETF (SPHQ, 11.2%) and Airbnb Class A (ABNB, 10.0%). Compared with Q3 2025, it opened 12 new positions, sold out of 18, added to 84 and reduced 41. The biggest buy was iShares MSCI International Q (IQLT, shares +0%) and the biggest sale Coinbase Global Class A (COIN, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001569765
- Portfolio Value
- $492.1M (Q4 2025)
- SEC Filing
- 0001569765-26-000001 ↗ filed Jan 22, 2026
Holdings Value
Holdings 194 stocks · $492.1M
| VIG Vanguard Dividend Apprec ETF | 13.79% | 308,695 | $67.8M | Reduce -1.0% |
| SPHQ Invesco S&P 500 Quality ETF | 11.17% | 732,231 | $55.0M | Reduce -0.8% |
| ABNB Airbnb Inc. Class A | 10.02% | 363,431 | $49.3M | Reduce -6.1% |
| IQLT iShares MSCI International Q | 5.62% | 608,979 | $27.7M | Add +0.3% |
| MSFT Microsoft Corp. | 5.58% | 56,795 | $27.5M | Reduce -17.4% |
| COIN Coinbase Global Inc. Class A | 5.48% | 119,286 | $27.0M | Reduce -19.6% |
| COWZ Pacer US Cash Cows 100 ETF | 5.18% | 423,400 | $25.5M | Reduce -0.3% |
| QLTY GMO U.S. Quality ETF | 3.04% | 389,124 | $15.0M | Add +4.2% |
| DOCN Digitalocean Holdings Inc. | 3.01% | 307,842 | $14.8M | Reduce -17.9% |
| CRM Salesforce Inc. | 2.81% | 52,139 | $13.8M | Reduce -31.0% |
| PINS Pinterest Inc. Class A | 2.54% | 481,906 | $12.5M | Reduce -11.2% |
| OKTA Okta Inc. | 2.18% | 124,200 | $10.7M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.77% | 12,757 | $8.7M | Reduce -0.2% |
| FLJP Franklin Ftse Japan ETF | 1.57% | 223,815 | $7.7M | Add +1.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.37% | 35,260 | $6.7M | Add +1.1% |
| EFA iShares MSCI Eafe ETF | 1.28% | 65,414 | $6.3M | Add +1.4% |
| LYFT LYFT Inc. Class A | 1.12% | 283,742 | $5.5M | No change |
| ESGV Vanguard ESG US Stock ETF | 1.10% | 44,739 | $5.4M | Add +23.9% |
| AAPL Apple Inc. | 0.76% | 13,722 | $3.7M | Reduce -4.9% |
| SLYV SS SPDR S&P 600 SC Val ETF | 0.67% | 36,084 | $3.3M | Add +125.8% |
| IOT Samsara Inc. Class A | 0.60% | 83,389 | $3.0M | Reduce -7.4% |
| POET Poet Technologies Inc. | 0.60% | 465,720 | $2.9M | Reduce -2.3% |
| NOBL Proshares S&P 500 Dividend A | 0.56% | 26,621 | $2.8M | Reduce -5.9% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.55% | 53,369 | $2.7M | Reduce -0.2% |
| AVUV Avantis US Small Cap Value | 0.51% | 24,383 | $2.5M | Add +0.9% |
| EWJ iShares MSCI Japan ETF | 0.43% | 26,365 | $2.1M | Reduce -2.8% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.43% | 11,941 | $2.1M | Add +341.3% |
| VSGX Vanguard ESG Intl Stock ETF | 0.40% | 27,260 | $2.0M | Add +32.9% |
| IEI iShares 3-7 Year Treasury Bo | 0.39% | 16,188 | $1.9M | Reduce -5.2% |
| VTEI Vanguard Int Tax-Exempt Bond | 0.36% | 17,562 | $1.8M | Add +0.7% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.36% | 8,335 | $1.8M | Reduce -0.4% |
| LLY Eli Lilly & Co. | 0.31% | 1,428 | $1.5M | Add +0.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.31% | 17,067 | $1.5M | Add +0.3% |
| ABBV Abbvie Inc. | 0.31% | 6,672 | $1.5M | Reduce -1.4% |
| RBLX Roblox Corp. Class A | 0.31% | 18,588 | $1.5M | No change |
| ORCL Oracle Corp. | 0.29% | 7,357 | $1.4M | Reduce -3.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.28% | 4,607 | $1.4M | Add +0.0% |
| WMT Walmart Inc. | 0.28% | 12,211 | $1.4M | Add +0.3% |
| TXN Texas Instruments Inc. | 0.26% | 7,509 | $1.3M | Add +0.3% |
| ASAN Asana Inc. Class A | 0.26% | 94,152 | $1.3M | No change |
| VSS Vanguard Ftse All Wo X-US SC | 0.25% | 8,658 | $1.2M | No change |
| PG The Procter & Gamble Co. | 0.25% | 8,659 | $1.2M | Reduce -0.1% |
| BEPC Brookfield Renewable Corp. | 0.25% | 32,339 | $1.2M | Reduce -10.6% |
| ET Energy Transfer LP | 0.23% | 68,724 | $1.1M | No change |
| VEA Vanguard Ftse Developed ETF | 0.21% | 16,625 | $1.0M | Add +2.2% |
| HOOD Robinhood Markets Inc. Class A | 0.21% | 9,129 | $1.0M | No change |
| MDY State Street SPDR S&P Midcap | 0.21% | 1,700 | $1.0M | No change |
| DASH DoorDash Inc. Class A | 0.20% | 4,390 | $994K | No change |
| JPM JPMorgan Chase & Co. | 0.19% | 2,954 | $952K | Reduce -2.9% |
| IWD iShares Russell 1000 Value E | 0.18% | 4,204 | $884K | Add +0.1% |
| AMGN Amgen Inc. | 0.17% | 2,620 | $858K | Reduce -7.1% |
| NVDA Nvidia Corp. | 0.17% | 4,534 | $846K | Add +0.1% |
| AFRM Affirm Holdings Inc. | 0.16% | 10,770 | $802K | No change |
| HON Honeywell International Inc. | 0.16% | 3,979 | $776K | No change |
| CSCO Cisco Systems Inc. | 0.15% | 9,880 | $761K | Add +0.1% |
| RDDT Reddit Inc. Class A | 0.14% | 3,094 | $711K | No change |
| CVX Chevron Corp. | 0.14% | 4,550 | $694K | Reduce -1.5% |
| QVMT Invesco S&P 500 Concentrated | 0.14% | 11,785 | $673K | Reduce -12.0% |
| ABT Abbott Laboratories | 0.14% | 5,360 | $672K | Reduce -2.6% |
| GLD SPDR Gold Shares | 0.13% | 1,664 | $659K | No change |
| AVGO Broadcom Inc. | 0.13% | 1,883 | $652K | Reduce -22.6% |
| DPZ Domino's Pizza Inc. | 0.13% | 1,557 | $649K | No change |
| PFE Pfizer Inc. | 0.13% | 25,254 | $629K | Add +2.6% |
| JNJ Johnson & Johnson | 0.13% | 2,976 | $616K | Add +0.0% |
| AMZN Amazon.com Inc. | 0.12% | 2,621 | $605K | Add +8.1% |
| CART Maplebear Inc. | 0.12% | 12,740 | $573K | No change |
| TOTL SS Doubleline TR Tact ETF | 0.11% | 13,961 | $562K | No change |
| DVN Devon Energy Corp. | 0.11% | 14,852 | $544K | Add +0.3% |
| TAP Molson Coors Beverage Co. Class B | 0.11% | 11,379 | $531K | Add +1.0% |
| KO The Coca-Cola Co. | 0.11% | 7,477 | $523K | Reduce -4.5% |
| BIPC Brookfield Infrastructure-A | 0.11% | 11,404 | $518K | Add +15.2% |
| MCD McDonald's Corp. | 0.10% | 1,673 | $511K | No change |
| MRK Merck & Co. Inc. | 0.10% | 4,837 | $509K | Add +0.3% |
| CMCSA Comcast Corp. Class A | 0.10% | 16,877 | $504K | Reduce -27.8% |
| ITW Illinois Tool Works | 0.10% | 2,000 | $493K | No change |
| NOC Northrop Grumman Corp. | 0.10% | 858 | $489K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.10% | 1,448 | $486K | Reduce -3.0% |
| EPD Enterprise Products Partners | 0.10% | 15,000 | $481K | No change |
| ESML iShares ESG Aware MSCI USA S | 0.09% | 10,099 | $464K | Add +0.3% |
| AMKR Amkor Technology Inc. | 0.09% | 11,163 | $441K | Add +0.2% |
| IWN iShares Russell 2000 Value E | 0.09% | 2,388 | $433K | Reduce -3.5% |
| XOM Exxon Mobil Corp. | 0.08% | 3,352 | $403K | Reduce -2.8% |
| ILCG iShares Morningstar Growth E | 0.08% | 3,834 | $399K | No change |
| AXP American Express Co. | 0.08% | 1,074 | $397K | Reduce -1.2% |
| VOO Vanguard S&P 500 ETF | 0.08% | 628 | $394K | No change |
| TOLZ Proshares GLB Infrastructure | 0.08% | 7,220 | $391K | No change |
| GOOGL Alphabet Inc. Class A | 0.08% | 1,225 | $383K | No change |
| IVZ Invesco Ltd. | 0.08% | 14,565 | $383K | Add +0.8% |
| YUM Yum! Brands Inc. | 0.08% | 2,509 | $380K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.08% | 3,315 | $377K | No change |
| HPE Hewlett Packard Enterprise | 0.08% | 15,642 | $376K | Add +0.5% |
| M Macy's Inc. | 0.08% | 16,986 | $375K | Add +1.0% |
| KLAC KLA Corp. | 0.07% | 302 | $367K | No change |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.07% | 12,922 | $352K | No change |
| PHO Invesco Water Resources ETF | 0.07% | 4,965 | $350K | Add +11.3% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.07% | 6,485 | $349K | Reduce -5.9% |
| GII State Street SPDR S&P Global | 0.07% | 4,869 | $340K | Reduce -3.8% |
| PXH Inves Rafi Emer MRKT-Usd Inc. | 0.07% | 13,083 | $338K | No change |
| VIGI Vanguard Int Div App Indx FD | 0.07% | 3,653 | $334K | No change |
| PXF Invesco Rafi Developed Marke | 0.07% | 5,086 | $333K | No change |
Lines left out (1) · $10.3M — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| CASH Pathward Financial Inc. | COM | 0 | $10.3M |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $502.4M.
Portfolio Sells Q3 2025 → Q4 2025
| COIN Coinbase Global Inc. Class A | Reduce -19.6% | 5.48% | −4.01 |
| WOW Wideopenwest Inc. | Sold out | 0.00% | −1.28 |
| MSFT Microsoft Corp. | Reduce -17.4% | 5.58% | −1.17 |
| PINS Pinterest Inc. Class A | Reduce -11.2% | 2.54% | −0.78 |
| CRM Salesforce Inc. | Reduce -31.0% | 2.81% | −0.59 |
| ORCL Oracle Corp. | Reduce -3.7% | 0.29% | −0.12 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.05 |
| PSX Phillips 66 | Sold out | 0.00% | −0.05 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.04 |
| PVH PVH Corp. | Sold out | 0.00% | −0.04 |
| WSM Williams-Sonoma Inc. | Sold out | 0.00% | −0.04 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.04 |
| PAG Penske Automotive Group Inc. | Sold out | 0.00% | −0.04 |
| AVT Avnet Inc. | Sold out | 0.00% | −0.04 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.04 |
| CHRD Chord Energy Corp. | Sold out | 0.00% | −0.04 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.04 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.04 |
| BBY Best Buy Co. Inc. | Sold out | 0.00% | −0.04 |
| AVIV Avantis Intl LRG Cap Val ETF | Sold out | 0.00% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -27.8% | 0.10% | −0.04 |
| IOT Samsara Inc. Class A | Reduce -7.4% | 0.60% | −0.04 |
| IEP Icahn Enterprises LP | Sold out | 0.00% | −0.03 |
| VOD Vodafone Group PLC-SP ADR | Sold out | 0.00% | −0.02 |
| AVGO Broadcom Inc. | Reduce -22.6% | 0.13% | −0.02 |
| HD Home Depot Inc. | Reduce -10.2% | 0.05% | −0.01 |
| CLVT Clarivate PLC | Sold out | 0.00% | −0.01 |
| ABT Abbott Laboratories | Reduce -2.6% | 0.14% | −0.00 |
| QVMT Invesco S&P 500 Concentrated | Reduce -12.0% | 0.14% | −0.00 |
| FDEC FT Vest U.S. Equity Buffer E | Reduce -11.7% | 0.05% | −0.00 |
| PG The Procter & Gamble Co. | Reduce -0.1% | 0.25% | −0.00 |
| EMN Eastman Chemical Co. | Reduce -7.3% | 0.04% | +0.00 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -5.9% | 0.07% | +0.00 |
| IJT iShares S&P Small-Cap 600 GR | Reduce -2.6% | 0.05% | +0.00 |
| GII State Street SPDR S&P Global | Reduce -3.8% | 0.07% | +0.00 |
| CAH Cardinal Health Inc. | Reduce -22.3% | 0.04% | +0.00 |
| CVX Chevron Corp. | Reduce -1.5% | 0.14% | +0.00 |
| IWN iShares Russell 2000 Value E | Reduce -3.5% | 0.09% | +0.00 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -5.2% | 0.39% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.0% | 0.10% | +0.01 |
| KO The Coca-Cola Co. | Reduce -4.5% | 0.11% | +0.01 |
| XOM Exxon Mobil Corp. | Reduce -2.8% | 0.08% | +0.01 |
| NOBL Proshares S&P 500 Dividend A | Reduce -5.9% | 0.56% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -2.9% | 0.19% | +0.01 |
| AXP American Express Co. | Reduce -1.2% | 0.08% | +0.01 |
| ABBV Abbvie Inc. | Reduce -1.4% | 0.31% | +0.01 |
| BEPC Brookfield Renewable Corp. | Reduce -10.6% | 0.25% | +0.02 |
| EWJ iShares MSCI Japan ETF | Reduce -2.8% | 0.43% | +0.02 |
| AMGN Amgen Inc. | Reduce -7.1% | 0.17% | +0.02 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.4% | 0.36% | +0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| IQLT iShares MSCI International Q | Add +0.3% | 5.62% | +0.53 |
| QLTY GMO U.S. Quality ETF | Add +4.2% | 3.04% | +0.48 |
| SLYV SS SPDR S&P 600 SC Val ETF | Add +125.8% | 0.67% | +0.40 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +341.3% | 0.43% | +0.34 |
| ESGV Vanguard ESG US Stock ETF | Add +23.9% | 1.10% | +0.29 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +1.1% | 1.37% | +0.14 |
| EFA iShares MSCI Eafe ETF | Add +1.4% | 1.28% | +0.13 |
| VSGX Vanguard ESG Intl Stock ETF | Add +32.9% | 0.40% | +0.13 |
| FLJP Franklin Ftse Japan ETF | Add +1.1% | 1.57% | +0.12 |
| LLY Eli Lilly & Co. | Add +0.1% | 0.31% | +0.11 |
| CAM AB California Inter Muni ETF | New | 0.06% | +0.06 |
| AVUV Avantis US Small Cap Value | Add +0.9% | 0.51% | +0.05 |
| HROW Harrow Inc. | New | 0.05% | +0.05 |
| BMY Bristol-Myers Squibb Co. | New | 0.05% | +0.05 |
| OMC Omnicom Group | New | 0.05% | +0.05 |
| PFG Principal Financial Group | New | 0.04% | +0.04 |
| BG Bunge Global SA | New | 0.04% | +0.04 |
| RGA Reinsurance Group of America | New | 0.04% | +0.04 |
| PRU Prudential Financial Inc. | New | 0.04% | +0.04 |
| AXS Axis Capital Holdings Ltd. | New | 0.04% | +0.04 |
| COR Cencora Inc. | New | 0.04% | +0.04 |
| RNR Renaissancere Holdings Ltd. | New | 0.04% | +0.04 |
| SLB SLB Ltd. | New | 0.04% | +0.04 |
| WMT Walmart Inc. | Add +0.3% | 0.28% | +0.04 |
| IBM Intl Business Machines Corp. | Add +0.0% | 0.28% | +0.03 |
| AMKR Amkor Technology Inc. | Add +0.2% | 0.09% | +0.03 |
| IEFA iShares Core MSCI Eafe ETF | Add +0.3% | 0.31% | +0.03 |
| BIPC Brookfield Infrastructure-A | Add +15.2% | 0.11% | +0.03 |
| VTEI Vanguard Int Tax-Exempt Bond | Add +0.7% | 0.36% | +0.03 |
| MRK Merck & Co. Inc. | Add +0.3% | 0.10% | +0.03 |
| CSCO Cisco Systems Inc. | Add +0.1% | 0.15% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +2.2% | 0.21% | +0.03 |
| AMZN Amazon.com Inc. | Add +8.1% | 0.12% | +0.02 |
| JNJ Johnson & Johnson | Add +0.0% | 0.13% | +0.02 |
| M Macy's Inc. | Add +1.0% | 0.08% | +0.02 |
| RPV Invesco S&P 500 Pure Value E | Add +23.3% | 0.07% | +0.02 |
| IWD iShares Russell 1000 Value E | Add +0.1% | 0.18% | +0.02 |
| DAL Delta Air Lines Inc. | Add +0.3% | 0.06% | +0.02 |
| VTRS Viatris Inc. | Add +1.0% | 0.06% | +0.02 |
| IVZ Invesco Ltd. | Add +0.8% | 0.08% | +0.01 |
| ICLN iShares Global Clean Energy | Add +12.2% | 0.07% | +0.01 |
| FDX FedEx Corp. | Add +0.6% | 0.05% | +0.01 |
| DVN Devon Energy Corp. | Add +0.3% | 0.11% | +0.01 |
| NVDA Nvidia Corp. | Add +0.1% | 0.17% | +0.01 |
| GAP The Gap Inc. | Add +0.7% | 0.05% | +0.01 |
| TAP Molson Coors Beverage Co. Class B | Add +1.0% | 0.11% | +0.01 |
| MAR Marriott International Class A | Add +0.1% | 0.05% | +0.01 |
| XLV SS Health Care Select Sector | Add +4.0% | 0.06% | +0.01 |
| CADE Cadence Bank | Add +0.7% | 0.06% | +0.01 |
| NOV Nov Inc. | Add +0.5% | 0.05% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 222 | $525.6M | VIG, SPHQ, ABNB, DOCN, IQLT |
| Q1 2026 | 198 | $474.3M | VIG, SPHQ, ABNB, IQLT, COWZ |
| Q4 2025 | 194 | $492.1M | VIG, SPHQ, ABNB, IQLT, MSFT |
| Q3 2025 | 200 | $527.2M | VIG, SPHQ, COIN, ABNB, MSFT |
| Q2 2025 | 213 | $545.2M | VIG, COIN, SPHQ, ABNB, MSFT |
| Q1 2025 | 196 | $484.5M | VIG, SPHQ, ABNB, COIN, MSFT |
| Q4 2024 | 186 | $497.7M | VIG, ABNB, SPHQ, COIN, MSFT |
| Q3 2024 | 204 | $507.3M | VIG, ABNB, SPHQ, COIN, MSFT |
| Q2 2024 | 202 | $544.8M | ABNB, VIG, SPHQ, COIN, MSFT |
| Q1 2024 | 193 | $559.4M | ABNB, VIG, COIN, SPHQ, MSFT |