Phraction Management LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), Phraction Management LLC reported 69 stock positions worth $266.0 million. Its top holding was Amazon.com (AMZN) at 9.4% of the portfolio, followed by Microsoft (MSFT, 8.0%) and Honeywell International (HON, 5.6%). Compared with Q3 2024, it opened 6 new positions, sold out of 4, added to 9 and reduced 18. The biggest buy was a new position in Ansys (ANSS) and the biggest sale Philip Morris International (PM, shares −10%).

Most Recent 13F
Q2 2026
Location
COLCHESTER, CT
CIK
0001907803
Portfolio Value
$266.0M (Q4 2024)
SEC Filing
0001667731-25-000170 ↗ filed Jan 29, 2025

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 Q3 2024 Q4 2024: $266.0M $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 69 stocks · $266.0M
AMZN Amazon.com Inc. 9.42% 114,183 $25.1M Reduce -0.9%
MSFT Microsoft Corp. 7.98% 50,376 $21.2M No change
HON Honeywell International Inc. 5.57% 65,557 $14.8M Reduce -1.3%
TMO Thermo Fisher Scientific Inc. 5.50% 28,127 $14.6M Add +1.9%
ADI Analog Devices Inc. 5.36% 67,080 $14.3M No change
BRK.B Berkshire Hathaway Inc. Class B 5.21% 30,553 $13.8M Reduce -1.8%
GOOGL Alphabet Inc. Class A 4.89% 68,685 $13.0M No change
RTX RTX Corp. 4.37% 100,493 $11.6M Reduce -0.6%
SPGI S&P Global Inc. 4.09% 21,824 $10.9M Reduce -0.4%
BDX Becton Dickinson and Co. 4.01% 47,021 $10.7M Add +7.2%
GOOG Alphabet Inc. Class C 3.77% 52,608 $10.0M Reduce -0.8%
PM Philip Morris International 3.31% 73,143 $8.8M Reduce -9.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 3.31% 200,096 $8.8M Reduce -1.2%
DHR Danaher Corp. 3.20% 37,062 $8.5M Add +1.7%
V Visa Inc. Class A 2.65% 22,330 $7.1M No change
TXN Texas Instruments Inc. 2.47% 35,026 $6.6M No change
ICE Intercontinental Exchange Inc. 2.44% 43,573 $6.5M No change
WMB Williams Cos Inc. 2.33% 114,301 $6.2M Reduce -1.4%
TDY Teledyne Technologies Inc. 2.00% 11,471 $5.3M No change
ADSK Autodesk Inc. 1.90% 17,091 $5.1M No change
PHYS Sprott Physical Gold Trust 1.51% 199,963 $4.0M No change
AMAT Applied Materials Inc. 1.40% 22,834 $3.7M Add +2.3%
LIN Linde PLC 1.02% 6,503 $2.7M No change
DD Dupont DE Nemours Inc. 0.70% 24,341 $1.9M Add +0.1%
ANSS Ansys Inc. 0.65% 5,087 $1.7M New
UNP Union Pacific Corp. 0.63% 7,347 $1.7M No change
IBIT iShares Bitcoin Trust ETF 0.52% 25,902 $1.4M New
META Meta Platforms Inc. Class A 0.52% 2,346 $1.4M Reduce -10.0%
ENTG Entegris Inc. 0.51% 13,672 $1.4M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.48% 17,161 $1.3M Add +172.2%
NOC Northrop Grumman Corp. 0.47% 2,668 $1.3M Reduce -3.1%
DEO Diageo PLC-Sponsored ADR 0.46% 9,623 $1.2M Reduce -38.5%
VEU Vanguard Ftse All-World Ex-U 0.46% 21,155 $1.2M No change
ASML ASML Holding NV-NY Reg SHS 0.40% 1,540 $1.1M New
CP Canadian Pacific Kansas City 0.36% 13,306 $963K Add +53.6%
LRCX Lam Research Corp. 0.36% 13,314 $962K Add +3.4%
MOAT Vaneck Morningstar Wide Moat 0.36% 10,345 $959K No change
AAPL Apple Inc. 0.33% 3,500 $876K No change
SPGP Invesco S&P 500 Garp ETF 0.31% 7,810 $819K No change
GFL GFL Environmental Inc.-Sub VT 0.30% 17,830 $794K Reduce -39.1%
CSGP Costar Group Inc. 0.27% 10,187 $729K New
UL Unilever PLC 0.26% 12,280 $696K No change
RSP Invesco S&P 500 Equal Weight 0.26% 3,943 $691K No change
ADBE Adobe Inc. 0.26% 1,546 $687K No change
PEP Pepsico Inc. 0.25% 4,400 $669K Add +143.2%
HD Home Depot Inc. 0.24% 1,619 $630K No change
IHI iShares U.S. Medical Devices 0.22% 10,016 $584K No change
SYK Stryker Corp. 0.19% 1,413 $509K Reduce -33.1%
ASHR Xtrackers Harvest Csi 300 CH 0.18% 17,610 $466K No change
VYMI Vanguard Int High DVD YLD Inc. 0.17% 6,705 $455K No change
VIGI Vanguard Int Div App Indx FD 0.17% 5,615 $449K No change
TPL Texas Pacific Land Corp. 0.16% 390 $431K No change
TECK Teck Resources Ltd.-CLS B 0.15% 9,700 $393K No change
PDX PIMCO Dynamic Income Strat 0.15% 14,971 $391K No change
LNG Cheniere Energy Inc. 0.15% 1,800 $387K No change
CVX Chevron Corp. 0.14% 2,650 $384K No change
NVDA Nvidia Corp. 0.14% 2,854 $383K Reduce -8.8%
GDX Vaneck Gold Miners ETF 0.14% 10,855 $368K No change
FMX Fomento Economico Mex-SP ADR 0.13% 3,934 $336K No change
FCLD Fidelity Cloud Computing ETF 0.10% 9,900 $272K No change
REGN Regeneron Pharmaceuticals 0.10% 367 $261K No change
VRSN Verisign Inc. 0.09% 1,189 $246K No change
AVGO Broadcom Inc. 0.09% 1,000 $232K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.08% 2,009 $224K Reduce -17.9%
EMXC iShares MSCI Emr MRK Ex Chna 0.08% 3,960 $220K No change
COP Conocophillips 0.08% 2,200 $218K No change
MARA Mara Holdings Inc. 0.08% 13,000 $218K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.08% 359 $210K Reduce -28.1%
SGHC Super Group SGHC Ltd. 0.07% 30,031 $187K Reduce -81.0%
Other holdings (2): bonds, preferreds, convertibles and warrants · $19.3M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 11,210$13.7MNo change
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 4,697$5.6MAdd +2.0%

Total filed on the 13F, all lines: $285.2M.

Portfolio Sells Q3 2024 → Q4 2024
PM Philip Morris International Reduce -9.5% 3.31% −0.43
DEO Diageo PLC-Sponsored ADR Reduce -38.5% 0.46% −0.38
RTX RTX Corp. Reduce -0.6% 4.37% −0.29
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.8% 5.21% −0.25
SPGI S&P Global Inc. Reduce -0.4% 4.09% −0.22
ETHE Grayscale Ethereum Staking E Sold out 0.00% −0.19
SGHC Super Group SGHC Ltd. Reduce -81.0% 0.07% −0.15
GFL GFL Environmental Inc.-Sub VT Reduce -39.1% 0.30% −0.15
SYK Stryker Corp. Reduce -33.1% 0.19% −0.10
NOC Northrop Grumman Corp. Reduce -3.1% 0.47% −0.08
INDA iShares MSCI India ETF Sold out 0.00% −0.08
META Meta Platforms Inc. Class A Reduce -10.0% 0.52% −0.05
MKTW Marketwise Inc. Sold out 0.00% −0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -28.1% 0.08% −0.03
GRAYSCALE ETHEREUM MINI TR E Sold out 0.00% −0.02
DIS The Walt Disney Co. Reduce -17.9% 0.08% −0.01
NVDA Nvidia Corp. Reduce -8.8% 0.14% −0.00
BAC Bank of America Corp. Reduce -1.2% 3.31% +0.25
WMB Williams Cos Inc. Reduce -1.4% 2.33% +0.31
HON Honeywell International Inc. Reduce -1.3% 5.57% +0.34
GOOG Alphabet Inc. Class C Reduce -0.8% 3.77% +0.39
AMZN Amazon.com Inc. Reduce -0.9% 9.42% +1.24

Portfolio Buys Q3 2024 → Q4 2024
ANSS Ansys Inc. New 0.65% +0.65
IBIT iShares Bitcoin Trust ETF New 0.52% +0.52
ENTG Entegris Inc. New 0.51% +0.51
ASML ASML Holding NV-NY Reg SHS New 0.40% +0.40
CSGP Costar Group Inc. New 0.27% +0.27
EL Estee Lauder Companies Class A Add +172.2% 0.48% +0.24
PEP Pepsico Inc. Add +143.2% 0.25% +0.13
AVGO Broadcom Inc. New 0.09% +0.09
CP Canadian Pacific Kansas City Add +53.6% 0.36% +0.08
BDX Becton Dickinson and Co. Add +7.2% 4.01% −0.02
LRCX Lam Research Corp. Add +3.4% 0.36% −0.04
DD Dupont DE Nemours Inc. Add +0.1% 0.70% −0.13
AMAT Applied Materials Inc. Add +2.3% 1.40% −0.32
DHR Danaher Corp. Add +1.7% 3.20% −0.66
TMO Thermo Fisher Scientific Inc. Add +1.9% 5.50% −1.00

Notes & Other Activity Q3 2024 → Q4 2024
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Add +2.0% 4,697 $5.6M

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