RB Capital Management, LLC

Name: RB Capital Management, LLC 13F holdings, Q1 2025
Creator: RB Capital Management, LLC
Published: 2025-05-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

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%
DUK Duke Energy Corp.	0.17%	5,374	$655K	Reduce -1.5%
HON Honeywell International Inc.	0.16%	3,046	$645K	Reduce -3.9%
EMR Emerson Electric Co.	0.16%	5,855	$642K	Add +0.4%
BCX BlackRock Resources & Commod	0.16%	65,762	$614K	Add +2.0%
DLR Digital Realty Trust Inc.	0.15%	4,183	$599K	Reduce -0.4%
CME Cme Group Inc.	0.15%	2,250	$597K	Add +1.4%
ALL Allstate Corp.	0.15%	2,790	$578K	Reduce -3.7%
PLD Prologis Inc.	0.14%	4,964	$555K	Reduce -7.5%
VGT Vanguard Info Tech ETF	0.14%	1,019	$553K	No change
L Loews Corp.	0.14%	6,000	$551K	No change
CSCO Cisco Systems Inc.	0.14%	8,880	$548K	Reduce -2.6%
T AT&T Inc.	0.14%	19,204	$543K	Add +0.1%
DISV Dimensional International SM	0.14%	18,277	$532K	Add +14.0%
XRNPX Cohen & Steers REIT and Pref	0.13%	23,768	$525K	Reduce -4.0%
GLD SPDR Gold Shares	0.13%	1,773	$511K	Add +1.1%
MRK Merck & Co. Inc.	0.13%	5,557	$499K	Reduce -5.4%
DFAX Dimensional World Ex US Core	0.13%	18,757	$491K	Add +7.8%
CCI Crown Castle Inc.	0.12%	4,495	$469K	Reduce -10.9%
PLTR Palantir Technologies Inc. Class A	0.12%	5,442	$459K	Add +46.5%
VTI VG Morningstar TS MKT ETF-US	0.11%	1,634	$449K	Add +11.3%
SO The Southern Co.	0.11%	4,729	$435K	Reduce -3.3%
EQIX Equinix Inc.	0.10%	506	$412K	Reduce -4.3%
BX Blackstone Inc.	0.10%	2,875	$402K	Reduce -0.7%
ELS Equity Lifestyle Properties	0.10%	6,010	$401K	Reduce -4.5%
AMAT Applied Materials Inc.	0.10%	2,762	$401K	Add +2.0%
GEHC GE Healthcare Technology	0.10%	4,924	$397K	Add +15.0%
GEV GE Vernova Inc.	0.10%	1,290	$394K	Add +7.6%
ETN Eaton Corp. PLC	0.10%	1,400	$381K	Reduce -1.8%
SOXX iShares Semiconductor ETF	0.09%	1,980	$373K	Add +0.1%
PAYX Paychex Inc.	0.09%	2,361	$364K	Reduce -11.2%
FIS Fidelity National Info Serv	0.09%	4,849	$362K	Reduce -1.5%
FDX FedEx Corp.	0.09%	1,453	$354K	Reduce -7.8%
SUI Sun Communities Inc. filed as SUN CMNTYS INC	0.09%	2,727	$351K	Reduce -13.2%
ED Consolidated Edison Inc.	0.09%	3,152	$349K	Add +0.3%
DFUV Dimensional US Marketwide Va	0.09%	8,361	$345K	Add +0.0%
CB Chubb Ltd.	0.08%	1,097	$331K	Add +8.5%
SYK Stryker Corp.	0.08%	875	$326K	Add +0.2%
IBB iShares Biotechnology ETF	0.08%	2,471	$316K	No change
SPYM Ste STR SPDR PT S&P 500 ETF	0.08%	4,792	$315K	Add +9.4%
IWF iShares Russell 1000 Growth	0.08%	870	$314K	Add +0.1%
MUC BlackRock Munihold Ca QLTY	0.08%	29,068	$311K	Add +1.4%
MMM 3M Co.	0.08%	2,117	$311K	Reduce -8.0%
DFLV Dim US Large Cap Value ETF	0.08%	10,097	$309K	Add +25.3%
OKE Oneok Inc.	0.08%	3,033	$301K	No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC	0.08%	5,482	$300K	Add +13.9%
PFE Pfizer Inc.	0.08%	11,822	$300K	Reduce -5.7%
CMCSA Comcast Corp. Class A	0.07%	7,977	$294K	Reduce -10.6%
IGV iShares Expanded Tech-Softwa	0.07%	3,300	$294K	No change
RFI Cohen & Steers Tot Ret RLTY	0.07%	24,290	$294K	Add +1.8%
SHAK Shake Shack Inc. Class A	0.07%	3,285	$290K	Add +48.8%
LOW Lowe's Cos Inc.	0.07%	1,225	$286K	Add +0.3%
BA The Boeing Co.	0.07%	1,644	$280K	Reduce -8.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.07%	1,096	$272K	Add +0.3%
F Ford Motor Co. filed as FORD MTR CO	0.07%	27,059	$271K	Reduce -2.2%
ESGV Vanguard ESG US Stock ETF	0.07%	2,709	$265K	No change
CSX CSX Corp.	0.07%	9,000	$265K	No change
NOBL Proshares S&P 500 Dividend A	0.06%	2,470	$252K	Add +4.8%
GRMN Garmin Ltd.	0.06%	1,141	$248K	Add +0.3%
EOD Allspring Global Dividend Op	0.06%	49,569	$245K	Add +1.6%
PRU Prudential Financial Inc.	0.06%	2,196	$245K	Reduce -4.9%
BDX Becton Dickinson and Co.	0.06%	1,024	$234K	Add +0.4%
DFUS Dimensional US Eq MKT ETF	0.06%	3,721	$225K	No change
DFEM Dimensional Emrg MRKT Core	0.06%	8,483	$224K	New
KIM Kimco Realty Corp.	0.06%	10,303	$219K	Add +1.0%
HPQ HP Inc.	0.06%	7,802	$216K	Reduce -4.5%
SLV iShares Silver Trust	0.05%	6,850	$212K	New
SRE Sempra	0.05%	2,855	$204K	Add +0.0%
LAMR Lamar Advertising Co. Class A	0.05%	1,771	$201K	Add +1.1%
TMDX Transmedics Group Inc.	0.05%	2,988	$201K	New
NAC Nuveen Ca QLTY Muni Inc.	0.04%	15,531	$175K	Reduce -14.2%
VCV Invesco Ca Val Muni Inc. TR	0.03%	11,905	$126K	Add +1.8%
NCA Nuveen California Muni Val	0.03%	12,731	$110K	Reduce -10.2%
AMTX Aemetis Inc.	0.00%	10,000	$17K	No change

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