Phraction Management LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 6, 2024), Phraction Management LLC reported 67 stock positions worth $262.6 million. Its top holding was Microsoft (MSFT) at 8.3% of the portfolio, followed by Amazon.com (AMZN, 8.2%) and Thermo Fisher Scientific (TMO, 6.5%). Compared with Q2 2024, it opened 5 new positions, sold out of 2, added to 7 and reduced 4. The biggest buy was Thermo Fisher Scientific (TMO, shares +1%) and the biggest sale an exit from Unitedhealth (UNH).

Most Recent 13F
Q2 2026
Location
COLCHESTER, CT
CIK
0001907803
Portfolio Value
$262.6M (Q3 2024)
SEC Filing
0001907803-24-000005 ↗ filed Nov 6, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $237.4M Q1 2024 Q2 2024: $249.9M Q2 2024 Q3 2024: $262.6M $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 67 stocks · $262.6M
MSFT Microsoft Corp. 8.25% 50,376 $21.7M No change
AMZN Amazon.com Inc. 8.18% 115,248 $21.5M No change
TMO Thermo Fisher Scientific Inc. 6.50% 27,600 $17.1M Add +1.4%
ADI Analog Devices Inc. 5.88% 67,080 $15.4M No change
BRK.B Berkshire Hathaway Inc. Class B 5.45% 31,121 $14.3M No change
HON Honeywell International Inc. 5.23% 66,393 $13.7M Add +0.2%
RTX RTX Corp. 4.67% 101,145 $12.3M No change
GOOGL Alphabet Inc. Class A 4.34% 68,685 $11.4M No change
SPGI S&P Global Inc. 4.31% 21,912 $11.3M No change
BDX Becton Dickinson and Co. 4.03% 43,883 $10.6M Add +3.0%
DHR Danaher Corp. 3.86% 36,455 $10.1M No change
PM Philip Morris International 3.74% 80,858 $9.8M No change
GOOG Alphabet Inc. Class C 3.37% 53,008 $8.9M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 3.06% 202,581 $8.0M No change
TXN Texas Instruments Inc. 2.76% 35,026 $7.2M No change
ICE Intercontinental Exchange Inc. 2.67% 43,573 $7.0M No change
V Visa Inc. Class A 2.34% 22,330 $6.1M Add +0.2%
WMB Williams Cos Inc. 2.02% 115,968 $5.3M Reduce -1.9%
TDY Teledyne Technologies Inc. 1.91% 11,471 $5.0M Add +2.4%
ADSK Autodesk Inc. 1.79% 17,091 $4.7M Add +0.1%
AMAT Applied Materials Inc. 1.72% 22,328 $4.5M No change
PHYS Sprott Physical Gold Trust 1.55% 199,963 $4.1M No change
LIN Linde PLC 1.18% 6,503 $3.1M No change
DEO Diageo PLC-Sponsored ADR 0.84% 15,647 $2.2M Reduce -10.2%
DD Dupont DE Nemours Inc. 0.83% 24,316 $2.2M No change
UNP Union Pacific Corp. 0.69% 7,347 $1.8M No change
META Meta Platforms Inc. Class A 0.57% 2,606 $1.5M No change
NOC Northrop Grumman Corp. 0.55% 2,753 $1.5M No change
VEU Vanguard Ftse All-World Ex-U 0.51% 21,155 $1.3M No change
GFL GFL Environmental Inc.-Sub VT 0.44% 29,280 $1.2M No change
LRCX Lam Research Corp. 0.40% 1,288 $1.1M No change
MOAT Vaneck Morningstar Wide Moat 0.38% 10,345 $1.0M No change
SPGP Invesco S&P 500 Garp ETF 0.31% 7,810 $817K No change
AAPL Apple Inc. 0.31% 3,500 $816K Reduce -2.8%
ADBE Adobe Inc. 0.30% 1,546 $800K No change
UL Unilever PLC 0.30% 12,280 $798K No change
SYK Stryker Corp. 0.29% 2,113 $763K No change
CP Canadian Pacific Kansas City 0.28% 8,665 $741K No change
RSP Invesco S&P 500 Equal Weight 0.27% 3,943 $706K No change
HD Home Depot Inc. 0.25% 1,619 $656K No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.24% 6,305 $629K New
IHI iShares U.S. Medical Devices 0.23% 10,016 $593K No change
SGHC Super Group SGHC Ltd. 0.22% 158,386 $575K No change
TECK Teck Resources Ltd.-CLS B 0.19% 9,700 $507K No change
ASHR Xtrackers Harvest Csi 300 CH 0.19% 17,610 $503K Add +45.4%
VIGI Vanguard Int Div App Indx FD 0.19% 5,615 $496K No change
ETHE Grayscale Ethereum Staking E 0.19% 22,506 $493K New
VYMI Vanguard Int High DVD YLD Inc. 0.19% 6,705 $492K No change
GDX Vaneck Gold Miners ETF 0.16% 10,855 $432K No change
CVX Chevron Corp. 0.15% 2,650 $390K No change
FMX Fomento Economico Mex-SP ADR 0.15% 3,934 $388K No change
REGN Regeneron Pharmaceuticals 0.15% 367 $386K No change
NVDA Nvidia Corp. 0.14% 3,130 $380K No change
PDX PIMCO Dynamic Income Strat 0.13% 14,971 $353K No change
TPL Texas Pacific Land Corp. 0.13% 390 $345K No change
LNG Cheniere Energy Inc. 0.12% 1,800 $324K No change
PEP Pepsico Inc. 0.12% 1,809 $308K New
SPY SS SPDR S&P 500 ETF Trust-US 0.11% 499 $286K No change
EMXC iShares MSCI Emr MRK Ex Chna 0.09% 3,960 $242K No change
FCLD Fidelity Cloud Computing ETF 0.09% 9,900 $242K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 2,447 $235K No change
COP Conocophillips 0.09% 2,200 $232K No change
VRSN Verisign Inc. 0.09% 1,189 $226K No change
INDA iShares MSCI India ETF 0.08% 3,606 $211K No change
MARA Mara Holdings Inc. 0.08% 13,000 $211K New
MKTW Marketwise Inc. 0.04% 167,187 $112K Reduce -33.1%
GRAYSCALE ETHEREUM MINI TR E 0.02% 22,506 $55K New
Other holdings (2): bonds, preferreds, convertibles and warrants · $20.2M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 11,210$14.3MReduce -0.3%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 4,605$5.9MReduce -0.7%

Total filed on the 13F, all lines: $282.8M.

Portfolio Sells Q2 2024 → Q3 2024
UNH Unitedhealth Group Inc. Sold out 0.00% −0.08
MKTW Marketwise Inc. Reduce -33.1% 0.04% −0.07
DEO Diageo PLC-Sponsored ADR Reduce -10.2% 0.84% −0.04
CEIN Camber Energy Inc. Sold out 0.00% −0.02
WMB Williams Cos Inc. Reduce -1.9% 2.02% +0.00
AAPL Apple Inc. Reduce -2.8% 0.31% +0.01

Portfolio Buys Q2 2024 → Q3 2024
TMO Thermo Fisher Scientific Inc. Add +1.4% 6.50% +0.48
EL Estee Lauder Companies Class A New 0.24% +0.24
ETHE Grayscale Ethereum Staking E New 0.19% +0.19
TDY Teledyne Technologies Inc. Add +2.4% 1.91% +0.17
PEP Pepsico Inc. New 0.12% +0.12
ADSK Autodesk Inc. Add +0.1% 1.79% +0.10
MARA Mara Holdings Inc. New 0.08% +0.08
ASHR Xtrackers Harvest Csi 300 CH Add +45.4% 0.19% +0.08
BDX Becton Dickinson and Co. Add +3.0% 4.03% +0.04
GRAYSCALE ETHEREUM MINI TR E New 0.02% +0.02
V Visa Inc. Class A Add +0.2% 2.34% −0.00
HON Honeywell International Inc. Add +0.2% 5.23% −0.44

Options Activity Q2 2024 → Q3 2024
ABR Arbor Realty Trust Inc. put Sold out 330,000 $4.7Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2024 → Q3 2024
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -0.3% 11,210 $14.3M
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -0.7% 4,605 $5.9M

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