Phraction Management LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 1, 2024), Phraction Management LLC reported 64 stock positions worth $249.9 million. Its top holding was Microsoft (MSFT) at 9.0% of the portfolio, followed by Amazon.com (AMZN, 8.9%) and Analog Devices (ADI, 6.1%). Compared with Q1 2024, it opened 5 new positions, sold out of 1, added to 12 and reduced 17. The biggest buy was Teledyne Technologies (TDY, shares +80%) and the biggest sale Williams Cos (WMB, shares −24%).

Most Recent 13F
Q2 2026
Location
COLCHESTER, CT
CIK
0001907803
Portfolio Value
$249.9M (Q2 2024)
SEC Filing
0001907803-24-000003 ↗ filed Aug 1, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $237.4M Q1 2024 Q2 2024: $249.9M $249.9M Q2 2024 Q3 2024: $262.6M Q3 2024 Q4 2024: $266.0M Q4 2024 Q1 2025: $279.1M Q1 2025 Q2 2025: $294.7M Q2 2025 Q3 2025: $327.5M Q3 2025 Q4 2025: $352.9M Q4 2025 Q1 2026: $362.5M Q1 2026 Q2 2026: $390.5M Q2 2026

Holdings 64 stocks · $249.9M
MSFT Microsoft Corp. 9.01% 50,376 $22.5M Reduce -0.1%
AMZN Amazon.com Inc. 8.91% 115,248 $22.3M Reduce -0.1%
ADI Analog Devices Inc. 6.13% 67,080 $15.3M Reduce -0.1%
TMO Thermo Fisher Scientific Inc. 6.02% 27,205 $15.0M Add +0.6%
HON Honeywell International Inc. 5.66% 66,269 $14.2M Reduce -3.3%
BRK.B Berkshire Hathaway Inc. Class B 5.07% 31,121 $12.7M No change
GOOGL Alphabet Inc. Class A 5.01% 68,685 $12.5M No change
RTX RTX Corp. 4.06% 101,145 $10.2M Add +0.1%
BDX Becton Dickinson and Co. 3.98% 42,607 $10.0M Add +14.6%
SPGI S&P Global Inc. 3.91% 21,912 $9.8M Add +0.0%
GOOG Alphabet Inc. Class C 3.89% 53,008 $9.7M Reduce -0.4%
DHR Danaher Corp. 3.64% 36,455 $9.1M Reduce -0.1%
PM Philip Morris International 3.28% 80,858 $8.2M Add +1.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 3.22% 202,581 $8.1M Reduce -0.6%
TXN Texas Instruments Inc. 2.73% 35,026 $6.8M Reduce -0.4%
ICE Intercontinental Exchange Inc. 2.39% 43,573 $6.0M Reduce -0.2%
V Visa Inc. Class A 2.34% 22,289 $5.9M Reduce -0.4%
AMAT Applied Materials Inc. 2.11% 22,328 $5.3M No change
WMB Williams Cos Inc. 2.01% 118,268 $5.0M Reduce -24.4%
TDY Teledyne Technologies Inc. 1.74% 11,206 $4.3M Add +80.0%
ADSK Autodesk Inc. 1.69% 17,076 $4.2M Reduce -8.1%
PHYS Sprott Physical Gold Trust 1.45% 199,963 $3.6M Add +40.5%
LIN Linde PLC 1.14% 6,503 $2.9M Reduce -0.7%
DEO Diageo PLC-Sponsored ADR 0.88% 17,427 $2.2M Reduce -11.3%
DD Dupont DE Nemours Inc. 0.78% 24,316 $2.0M Reduce -5.8%
UNP Union Pacific Corp. 0.67% 7,347 $1.7M No change
LRCX Lam Research Corp. 0.55% 1,288 $1.4M No change
META Meta Platforms Inc. Class A 0.53% 2,606 $1.3M Add +0.0%
VEU Vanguard Ftse All-World Ex-U 0.50% 21,155 $1.2M No change
NOC Northrop Grumman Corp. 0.48% 2,753 $1.2M Add +0.0%
GFL GFL Environmental Inc.-Sub VT 0.46% 29,280 $1.1M Add +47.4%
MOAT Vaneck Morningstar Wide Moat 0.36% 10,345 $896K No change
ADBE Adobe Inc. 0.34% 1,546 $859K Reduce -4.3%
SPGP Invesco S&P 500 Garp ETF 0.32% 7,810 $803K No change
AAPL Apple Inc. 0.30% 3,600 $758K Add +0.0%
SYK Stryker Corp. 0.29% 2,113 $719K No change
CP Canadian Pacific Kansas City 0.27% 8,665 $682K Reduce -1.4%
UL Unilever PLC 0.27% 12,280 $675K New
RSP Invesco S&P 500 Equal Weight 0.26% 3,943 $648K No change
IHI iShares U.S. Medical Devices 0.22% 10,016 $561K No change
HD Home Depot Inc. 0.22% 1,619 $557K No change
SGHC Super Group SGHC Ltd. 0.20% 158,386 $512K Add +23.4%
TECK Teck Resources Ltd.-CLS B 0.19% 9,700 $465K No change
VYMI Vanguard Int High DVD YLD Inc. 0.18% 6,705 $459K No change
VIGI Vanguard Int Div App Indx FD 0.18% 5,615 $456K No change
FMX Fomento Economico Mex-SP ADR 0.17% 3,934 $423K No change
CVX Chevron Corp. 0.17% 2,650 $415K No change
NVDA Nvidia Corp. 0.15% 3,130 $387K No change
REGN Regeneron Pharmaceuticals 0.15% 367 $386K No change
GDX Vaneck Gold Miners ETF 0.15% 10,855 $368K No change
PDX PIMCO Dynamic Income Strat 0.13% 14,971 $334K No change
LNG Cheniere Energy Inc. 0.13% 1,800 $315K No change
MKTW Marketwise Inc. 0.12% 250,000 $290K No change
TPL Texas Pacific Land Corp. 0.11% 390 $286K No change
ASHR Xtrackers Harvest Csi 300 CH 0.11% 12,110 $285K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.11% 499 $272K New
COP Conocophillips 0.10% 2,200 $252K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.10% 2,447 $243K No change
FCLD Fidelity Cloud Computing ETF 0.10% 9,900 $239K No change
EMXC iShares MSCI Emr MRK Ex Chna 0.09% 3,960 $234K No change
VRSN Verisign Inc. 0.08% 1,189 $211K New
UNH Unitedhealth Group Inc. 0.08% 414 $211K New
INDA iShares MSCI India ETF 0.08% 3,606 $201K New
CEIN Camber Energy Inc. 0.02% 356,299 $42K No change

Options reported separately and not counted above: ABR puts ($4.7M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $19.0M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 11,243$13.4MAdd +8.0%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 4,638$5.5MNo change

Total filed on the 13F, all lines: $268.9M.

Portfolio Sells Q1 2024 → Q2 2024
WMB Williams Cos Inc. Reduce -24.4% 2.01% −0.56
DEO Diageo PLC-Sponsored ADR Reduce -11.3% 0.88% −0.35
ADSK Autodesk Inc. Reduce -8.1% 1.69% −0.35
AVTR Avantor Inc. Sold out 0.00% −0.30
V Visa Inc. Class A Reduce -0.4% 2.34% −0.29
HON Honeywell International Inc. Reduce -3.3% 5.66% −0.26
DHR Danaher Corp. Reduce -0.1% 3.64% −0.19
ICE Intercontinental Exchange Inc. Reduce -0.2% 2.39% −0.14
LIN Linde PLC Reduce -0.7% 1.14% −0.14
CP Canadian Pacific Kansas City Reduce -1.4% 0.27% −0.05
DD Dupont DE Nemours Inc. Reduce -5.8% 0.78% −0.05
BAC Bank of America Corp. Reduce -0.6% 3.22% −0.03
ADBE Adobe Inc. Reduce -4.3% 0.34% +0.00
MSFT Microsoft Corp. Reduce -0.1% 9.01% +0.07
TXN Texas Instruments Inc. Reduce -0.4% 2.73% +0.15
AMZN Amazon.com Inc. Reduce -0.1% 8.91% +0.15
GOOG Alphabet Inc. Class C Reduce -0.4% 3.89% +0.48
ADI Analog Devices Inc. Reduce -0.1% 6.13% +0.53

Portfolio Buys Q1 2024 → Q2 2024
TDY Teledyne Technologies Inc. Add +80.0% 1.74% +0.61
PHYS Sprott Physical Gold Trust Add +40.5% 1.45% +0.41
UL Unilever PLC New 0.27% +0.27
PM Philip Morris International Add +1.3% 3.28% +0.20
GFL GFL Environmental Inc.-Sub VT Add +47.4% 0.46% +0.17
BDX Becton Dickinson and Co. Add +14.6% 3.98% +0.11
SPY SS SPDR S&P 500 ETF Trust-US New 0.11% +0.11
VRSN Verisign Inc. New 0.08% +0.08
UNH Unitedhealth Group Inc. New 0.08% +0.08
INDA iShares MSCI India ETF New 0.08% +0.08
AAPL Apple Inc. Add +0.0% 0.30% +0.04
SGHC Super Group SGHC Ltd. Add +23.4% 0.20% +0.02
META Meta Platforms Inc. Class A Add +0.0% 0.53% −0.01
SPGI S&P Global Inc. Add +0.0% 3.91% −0.01
NOC Northrop Grumman Corp. Add +0.0% 0.48% −0.07
RTX RTX Corp. Add +0.1% 4.06% −0.09
TMO Thermo Fisher Scientific Inc. Add +0.6% 6.02% −0.60

Notes & Other Activity Q1 2024 → Q2 2024
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Add +8.0% 11,243 $13.4M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 62$390.5MAMZN, GOOGL, ASML, MSFT, ADI
Q1 2026 61$362.5MAMZN, GOOGL, ADI, MSFT, ASML
Q4 2025 64$352.9MAMZN, MSFT, GOOGL, ADI, GOOG
Q3 2025 64$327.5MMSFT, AMZN, GOOGL, ADI, TMO
Q2 2025 71$294.7MMSFT, AMZN, ADI, GOOGL, HON
Q1 2025 72$279.1MAMZN, MSFT, TMO, HON, ADI
Q4 2024 69$266.0MAMZN, MSFT, HON, TMO, ADI
Q3 2024 67$262.6MMSFT, AMZN, TMO, ADI, BRK.B
Q2 2024 64$249.9MMSFT, AMZN, ADI, TMO, HON
Q1 2024 60$237.4MMSFT, AMZN, TMO, HON, ADI