RB Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), RB Capital Management, LLC reported 173 stock positions worth $393.0 million. Its top holding was Apple (AAPL) at 15.7% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 6.0%) and Costco Wholesale (COST, 4.1%). Compared with Q4 2024, it opened 3 new positions, sold out of 14, added to 91 and reduced 70. The biggest buy was Visa Class A (V, shares +1%) and the biggest sale Apple (AAPL, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- RENO, NV
- CIK
- 0001695582
- Portfolio Value
- $393.0M (Q1 2025)
- SEC Filing
- 0001095449-25-000038 ↗ filed May 14, 2025
Holdings Value
Holdings 173 stocks · $393.0M
| AAPL Apple Inc. | 15.73% | 278,296 | $61.8M | Reduce -2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.99% | 44,225 | $23.6M | Reduce -1.1% |
| COST Costco Wholesale Corp. | 4.09% | 16,990 | $16.1M | Reduce -0.7% |
| NVDA Nvidia Corp. | 3.00% | 108,623 | $11.8M | Reduce -0.3% |
| MSFT Microsoft Corp. | 2.58% | 27,048 | $10.2M | Add +6.8% |
| V Visa Inc. Class A | 2.37% | 26,575 | $9.3M | Add +1.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.24% | 15,701 | $8.8M | Add +2.0% |
| META Meta Platforms Inc. Class A | 2.21% | 15,102 | $8.7M | Add +1.5% |
| GOOG Alphabet Inc. Class C | 2.13% | 53,659 | $8.4M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 2.12% | 43,845 | $8.3M | Add +0.5% |
| JAAA Janus Henderson Aaa Clo ETF | 1.99% | 153,862 | $7.8M | Add +5.1% |
| JPM JPMorgan Chase & Co. | 1.68% | 26,856 | $6.6M | Add +2.5% |
| CRM Salesforce Inc. | 1.44% | 21,032 | $5.6M | Reduce -0.8% |
| SBUX Starbucks Corp. | 1.41% | 56,534 | $5.5M | Reduce -0.2% |
| ABT Abbott Laboratories | 1.36% | 40,165 | $5.3M | Reduce -0.2% |
| MA Mastercard Inc. Class A | 1.34% | 9,603 | $5.3M | Add +0.7% |
| AVGO Broadcom Inc. | 1.32% | 30,942 | $5.2M | Add +2.5% |
| GOOGL Alphabet Inc. Class A | 1.31% | 33,391 | $5.2M | Add +1.3% |
| CVX Chevron Corp. | 1.27% | 29,792 | $5.0M | Add +1.6% |
| PEP Pepsico Inc. | 1.22% | 31,862 | $4.8M | Reduce -0.2% |
| AMGN Amgen Inc. | 1.21% | 15,275 | $4.8M | Add +1.2% |
| VGIT Vanguard Intermediate-Term T | 1.02% | 67,323 | $4.0M | Add +6.6% |
| ADX Adams Diversified Equity | 1.01% | 208,238 | $4.0M | Add +2.0% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.99% | 45,098 | $3.9M | Reduce -2.7% |
| WM Waste Management Inc. | 0.98% | 16,621 | $3.8M | Reduce -0.3% |
| LLY Eli Lilly & Co. | 0.89% | 4,219 | $3.5M | Add +5.1% |
| HD Home Depot Inc. | 0.87% | 9,326 | $3.4M | Add +0.0% |
| CTAS Cintas Corp. | 0.86% | 16,505 | $3.4M | Reduce -1.1% |
| CAT Caterpillar Inc. | 0.81% | 9,702 | $3.2M | Reduce -0.5% |
| WMT Walmart Inc. | 0.77% | 34,297 | $3.0M | Add +1.4% |
| IWM iShares Russell 2000 ETF | 0.75% | 14,782 | $2.9M | Reduce -1.0% |
| ABBV Abbvie Inc. | 0.75% | 14,061 | $2.9M | Add +1.4% |
| NKE Nike Inc. Class B | 0.75% | 46,156 | $2.9M | Reduce -12.0% |
| BSVO EA Bridgeway Omni Sm-Cp Val | 0.72% | 145,470 | $2.8M | Add +8.9% |
| UNH Unitedhealth Group Inc. | 0.72% | 5,382 | $2.8M | Reduce -0.6% |
| FTNT Fortinet Inc. | 0.70% | 28,675 | $2.8M | Add +0.3% |
| XOM Exxon Mobil Corp. | 0.70% | 23,172 | $2.8M | Add +1.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.66% | 26,365 | $2.6M | Reduce -2.7% |
| KO The Coca-Cola Co. | 0.65% | 35,535 | $2.5M | Reduce -6.8% |
| AZO AutoZone Inc. | 0.65% | 666 | $2.5M | Reduce -0.9% |
| RVT Royce Small-Cap Trust Inc. | 0.62% | 170,149 | $2.4M | Add +1.0% |
| LULU Lululemon Athletica Inc. | 0.61% | 8,528 | $2.4M | Reduce -0.3% |
| GS Goldman Sachs Group Inc. | 0.58% | 4,178 | $2.3M | Add +2.9% |
| PG The Procter & Gamble Co. | 0.56% | 12,911 | $2.2M | Add +0.1% |
| DFAC Dimensional US Core Equity 2 | 0.54% | 64,364 | $2.1M | Add +5.2% |
| MCD McDonald's Corp. | 0.53% | 6,682 | $2.1M | Add +1.0% |
| CMG Chipotle Mexican Grill Inc. | 0.52% | 41,023 | $2.1M | Reduce -3.4% |
| AXP American Express Co. | 0.52% | 7,636 | $2.1M | Add +12.4% |
| LMT Lockheed Martin Corp. | 0.50% | 4,408 | $2.0M | Add +0.8% |
| TY Tri-Continental Corp. | 0.49% | 62,999 | $1.9M | Reduce -0.3% |
| NOC Northrop Grumman Corp. | 0.49% | 3,760 | $1.9M | Add +1.9% |
| INTU Intuit Inc. | 0.49% | 3,115 | $1.9M | Reduce -1.5% |
| NFLX Netflix Inc. | 0.48% | 2,029 | $1.9M | Add +7.1% |
| PM Philip Morris International | 0.48% | 11,780 | $1.9M | Reduce -4.0% |
| ADBE Adobe Inc. | 0.47% | 4,825 | $1.9M | Reduce -2.4% |
| JNJ Johnson & Johnson | 0.47% | 11,135 | $1.8M | Add +0.3% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.46% | 55,759 | $1.8M | Reduce -1.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.45% | 42,121 | $1.8M | Add +1.1% |
| URI United Rentals Inc. | 0.44% | 2,774 | $1.7M | Add +0.8% |
| AVB Avalonbay Communities Inc. | 0.40% | 7,334 | $1.6M | Reduce -1.0% |
| YUM Yum! Brands Inc. | 0.38% | 9,607 | $1.5M | Reduce -0.5% |
| ROL Rollins Inc. | 0.34% | 24,431 | $1.3M | Add +0.2% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.33% | 29,158 | $1.3M | Add +10.5% |
| VOO Vanguard S&P 500 ETF | 0.31% | 2,404 | $1.2M | Add +18.9% |
| PSA Public Storage | 0.31% | 4,073 | $1.2M | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 0.30% | 17,470 | $1.2M | Reduce -14.0% |
| GNRC Generac Holdings Inc. | 0.29% | 9,136 | $1.2M | Add +3.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.29% | 16,261 | $1.1M | Reduce -15.7% |
| TXN Texas Instruments Inc. | 0.28% | 6,114 | $1.1M | Add +0.7% |
| DECK Deckers Outdoor Corp. | 0.28% | 9,807 | $1.1M | Add +31.6% |
| AMT American Tower Corp. | 0.28% | 5,031 | $1.1M | Reduce -4.8% |
| RTX RTX Corp. | 0.28% | 8,192 | $1.1M | Reduce -0.2% |
| HSY The Hershey Co. | 0.27% | 6,228 | $1.1M | Reduce -4.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 8,735 | $1.1M | Add +1.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.27% | 2,228 | $1.0M | Add +1.5% |
| PANW Palo Alto Networks Inc. | 0.27% | 6,107 | $1.0M | Add +12.2% |
| HCA HCA Healthcare Inc. | 0.26% | 3,012 | $1.0M | Add +1.4% |
| BLK BlackRock Inc. | 0.26% | 1,091 | $1.0M | Add +254.2% |
| NOW ServiceNow Inc. | 0.25% | 1,255 | $999K | Add +2.1% |
| DE Deere & Co. | 0.25% | 2,087 | $980K | Add +3.0% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.24% | 13,379 | $958K | Reduce -4.2% |
| O Realty Income Corp. | 0.24% | 16,409 | $952K | Reduce -0.6% |
| USA Liberty All Star Equity Fund | 0.24% | 145,172 | $951K | Add +4.4% |
| SNA Snap-on Inc. | 0.23% | 2,694 | $908K | Reduce -1.5% |
| CBOE Cboe Global Markets Inc. | 0.22% | 3,895 | $881K | Add +0.6% |
| DFIV Dimensional International Va | 0.22% | 21,959 | $864K | Add +6.0% |
| ORCL Oracle Corp. | 0.22% | 6,168 | $862K | Reduce -7.4% |
| UBER Uber Technologies Inc. | 0.22% | 11,777 | $858K | Add +14.7% |
| WFC Wells Fargo & Co. | 0.21% | 11,657 | $837K | Add +0.0% |
| MSCI MSCI Inc. | 0.21% | 1,475 | $834K | Reduce -2.9% |
| WPC WP Carey Inc. | 0.21% | 13,087 | $826K | Reduce -6.9% |
| AZN Astrazeneca PLC-Spons ADR | 0.21% | 11,137 | $819K | Reduce -6.8% |
| GE General Electric filed as GE AEROSPACE | 0.20% | 3,979 | $796K | Add +23.3% |
| ISRG Intuitive Surgical Inc. | 0.20% | 1,592 | $788K | Reduce -2.8% |
| ICE Intercontinental Exchange Inc. | 0.20% | 4,525 | $781K | Add +0.5% |
| SWK Stanley Black & Decker Inc. | 0.19% | 9,937 | $764K | Add +1.8% |
| ESS Essex Property Trust Inc. | 0.18% | 2,329 | $714K | Reduce -3.0% |
| TSLA Tesla Inc. | 0.18% | 2,739 | $710K | Add +3.4% |
| VZ Verizon Communications Inc. | 0.17% | 14,566 | $661K | Add +0.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.17% | 7,863 | $659K | Reduce -0.1% |
Options reported separately and not counted above: AAPL puts ($20.0M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $18.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 8,055 | $9.7M | Reduce -0.5% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 6,674 | $8.2M | Reduce -0.2% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 15,400 | $264K | New |
Total filed on the 13F, all lines: $411.1M.
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -2.7% | 15.73% | −1.74 |
| NVDA Nvidia Corp. | Reduce -0.3% | 3.00% | −0.58 |
| GOOG Alphabet Inc. Class C | Reduce -1.8% | 2.13% | −0.41 |
| CRM Salesforce Inc. | Reduce -0.8% | 1.44% | −0.29 |
| NKE Nike Inc. Class B | Reduce -12.0% | 0.75% | −0.22 |
| IRM Iron Mountain Inc. | Reduce -2.7% | 0.99% | −0.20 |
| LULU Lululemon Athletica Inc. | Reduce -0.3% | 0.61% | −0.18 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -15.7% | 0.29% | −0.12 |
| CMG Chipotle Mexican Grill Inc. | Reduce -3.4% | 0.52% | −0.10 |
| DIS The Walt Disney Co. | Reduce -2.7% | 0.66% | −0.07 |
| ADBE Adobe Inc. | Reduce -2.4% | 0.47% | −0.07 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.06 |
| TGT Target Corp. | Sold out | 0.00% | −0.06 |
| EIX Edison International | Sold out | 0.00% | −0.06 |
| DOW Dow Inc. | Sold out | 0.00% | −0.06 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −0.06 |
| IWM iShares Russell 2000 ETF | Reduce -1.0% | 0.75% | −0.05 |
| CMI Cummins Inc. | Sold out | 0.00% | −0.05 |
| FRT Federal Realty Invs Trust | Sold out | 0.00% | −0.05 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.05 |
| MGM MGM Resorts International | Sold out | 0.00% | −0.05 |
| ORCL Oracle Corp. | Reduce -7.4% | 0.22% | −0.05 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.05 |
| ITW Illinois Tool Works | Sold out | 0.00% | −0.05 |
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −0.05 |
| MS Morgan Stanley | Sold out | 0.00% | −0.05 |
| CAT Caterpillar Inc. | Reduce -0.5% | 0.81% | −0.05 |
| DLR Digital Realty Trust Inc. | Reduce -0.4% | 0.15% | −0.03 |
| BX Blackstone Inc. | Reduce -0.7% | 0.10% | −0.02 |
| ETN Eaton Corp. PLC | Reduce -1.8% | 0.10% | −0.02 |
| FDX FedEx Corp. | Reduce -7.8% | 0.09% | −0.02 |
| EQIX Equinix Inc. | Reduce -4.3% | 0.10% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -5.4% | 0.13% | −0.02 |
| HON Honeywell International Inc. | Reduce -3.9% | 0.16% | −0.01 |
| HPQ HP Inc. | Reduce -4.5% | 0.06% | −0.01 |
| MSCI MSCI Inc. | Reduce -2.9% | 0.21% | −0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -2.8% | 0.20% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -10.6% | 0.07% | −0.01 |
| BA The Boeing Co. | Reduce -8.4% | 0.07% | −0.01 |
| NAC Nuveen Ca QLTY Muni Inc. | Reduce -14.2% | 0.04% | −0.01 |
| SUI Sun Communities Inc. | Reduce -13.2% | 0.09% | −0.01 |
| FIS Fidelity National Info Serv | Reduce -1.5% | 0.09% | −0.00 |
| PFE Pfizer Inc. | Reduce -5.7% | 0.08% | −0.00 |
| AKBA Akebia Therapeutics Inc. | Sold out | 0.00% | −0.00 |
| PRU Prudential Financial Inc. | Reduce -4.9% | 0.06% | −0.00 |
| NCA Nuveen California Muni Val | Reduce -10.2% | 0.03% | −0.00 |
| VMRK Vivmark Residential | Reduce -4.2% | 0.24% | −0.00 |
| ELS Equity Lifestyle Properties | Reduce -4.5% | 0.10% | −0.00 |
| PAYX Paychex Inc. | Reduce -11.2% | 0.09% | +0.00 |
| HSY The Hershey Co. | Reduce -4.4% | 0.27% | +0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| V Visa Inc. Class A | Add +1.0% | 2.37% | +0.34 |
| AMGN Amgen Inc. | Add +1.2% | 1.21% | +0.25 |
| CVX Chevron Corp. | Add +1.6% | 1.27% | +0.23 |
| BLK BlackRock Inc. | Add +254.2% | 0.26% | +0.19 |
| JAAA Janus Henderson Aaa Clo ETF | Add +5.1% | 1.99% | +0.17 |
| ABBV Abbvie Inc. | Add +1.4% | 0.75% | +0.15 |
| JPM JPMorgan Chase & Co. | Add +2.5% | 1.68% | +0.14 |
| LLY Eli Lilly & Co. | Add +5.1% | 0.89% | +0.13 |
| VGIT Vanguard Intermediate-Term T | Add +6.6% | 1.02% | +0.12 |
| MA Mastercard Inc. Class A | Add +0.7% | 1.34% | +0.11 |
| XOM Exxon Mobil Corp. | Add +1.9% | 0.70% | +0.10 |
| META Meta Platforms Inc. Class A | Add +1.5% | 2.21% | +0.09 |
| JNJ Johnson & Johnson | Add +0.3% | 0.47% | +0.08 |
| GE General Electric | Add +23.3% | 0.20% | +0.07 |
| NFLX Netflix Inc. | Add +7.1% | 0.48% | +0.07 |
| NOC Northrop Grumman Corp. | Add +1.9% | 0.49% | +0.07 |
| UBER Uber Technologies Inc. | Add +14.7% | 0.22% | +0.07 |
| MCD McDonald's Corp. | Add +1.0% | 0.53% | +0.06 |
| ROL Rollins Inc. | Add +0.2% | 0.34% | +0.06 |
| DFEM Dimensional Emrg MRKT Core | New | 0.06% | +0.06 |
| SLV iShares Silver Trust | New | 0.05% | +0.05 |
| TMDX Transmedics Group Inc. | New | 0.05% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +18.9% | 0.31% | +0.05 |
| PLTR Palantir Technologies Inc. Class A | Add +46.5% | 0.12% | +0.05 |
| HCA HCA Healthcare Inc. | Add +1.4% | 0.26% | +0.05 |
| FTNT Fortinet Inc. | Add +0.3% | 0.70% | +0.04 |
| DFIV Dimensional International Va | Add +6.0% | 0.22% | +0.04 |
| CBOE Cboe Global Markets Inc. | Add +0.6% | 0.22% | +0.04 |
| DE Deere & Co. | Add +3.0% | 0.25% | +0.04 |
| ICE Intercontinental Exchange Inc. | Add +0.5% | 0.20% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +2.0% | 2.24% | +0.03 |
| PG The Procter & Gamble Co. | Add +0.1% | 0.56% | +0.03 |
| T AT&T Inc. | Add +0.1% | 0.14% | +0.03 |
| DISV Dimensional International SM | Add +14.0% | 0.14% | +0.03 |
| AXP American Express Co. | Add +12.4% | 0.52% | +0.03 |
| VZ Verizon Communications Inc. | Add +0.5% | 0.17% | +0.03 |
| GLD SPDR Gold Shares | Add +1.1% | 0.13% | +0.03 |
| CME Cme Group Inc. | Add +1.4% | 0.15% | +0.03 |
| DFAC Dimensional US Core Equity 2 | Add +5.2% | 0.54% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +12.2% | 0.27% | +0.02 |
| BCX BlackRock Resources & Commod | Add +2.0% | 0.16% | +0.02 |
| WMT Walmart Inc. | Add +1.4% | 0.77% | +0.02 |
| ED Consolidated Edison Inc. | Add +0.3% | 0.09% | +0.02 |
| DFLV Dim US Large Cap Value ETF | Add +25.3% | 0.08% | +0.02 |
| DFAX Dimensional World Ex US Core | Add +7.8% | 0.13% | +0.02 |
| GEHC GE Healthcare Technology | Add +15.0% | 0.10% | +0.02 |
| TJX TJX Companies Inc. | Add +1.8% | 0.27% | +0.02 |
| CB Chubb Ltd. | Add +8.5% | 0.08% | +0.02 |
| BSVO EA Bridgeway Omni Sm-Cp Val | Add +8.9% | 0.72% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +2.9% | 0.58% | +0.01 |
Options Activity Q4 2024 → Q1 2025
| AAPL Apple Inc. | put | Add +200.0% | 90,000 | $20.0M |
| NVDA Nvidia Corp. | put | Sold out | 24,000 | $3.2Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -0.5% | 8,055 | $9.7M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -0.2% | 6,674 | $8.2M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | New | 15,400 | $264K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 196 | $492.7M | AAPL, BRK.B, NVDA, GOOG, COST |
| Q1 2026 | 181 | $452.1M | AAPL, BRK.B, NVDA, COST, GOOG |
| Q4 2025 | 189 | $473.9M | AAPL, BRK.B, NVDA, GOOG, COST |
| Q3 2025 | 182 | $460.3M | AAPL, BRK.B, NVDA, COST, MSFT |
| Q2 2025 | 174 | $423.6M | AAPL, BRK.B, NVDA, COST, MSFT |
| Q1 2025 | 173 | $393.0M | AAPL, BRK.B, COST, NVDA, MSFT |
| Q4 2024 | 184 | $409.8M | AAPL, BRK.B, COST, NVDA, MSFT |
| Q3 2024 | 181 | $405.1M | AAPL, BRK.B, COST, NVDA, MSFT |
| Q2 2024 | 173 | $374.2M | AAPL, BRK.B, NVDA, COST, MSFT |
| Q1 2024 | 177 | $355.8M | AAPL, BRK.B, COST, NVDA, MSFT |