RB Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 7, 2025), RB Capital Management, LLC reported 174 stock positions worth $423.6 million. Its top holding was Apple (AAPL) at 13.5% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 5.1%) and Nvidia (NVDA, 4.2%). Compared with Q1 2025, it opened 6 new positions, sold out of 5, added to 100 and reduced 58. The biggest buy was Nvidia (NVDA, shares +3%) and the biggest sale Unitedhealth (UNH, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- RENO, NV
- CIK
- 0001695582
- Portfolio Value
- $423.6M (Q2 2025)
- SEC Filing
- 0001095449-25-000051 ↗ filed Jul 7, 2025
Holdings Value
Holdings 174 stocks · $423.6M
| AAPL Apple Inc. | 13.51% | 278,958 | $57.2M | Add +0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.11% | 44,601 | $21.7M | Add +0.8% |
| NVDA Nvidia Corp. | 4.16% | 111,571 | $17.6M | Add +2.7% |
| COST Costco Wholesale Corp. | 3.98% | 17,014 | $16.8M | Add +0.1% |
| MSFT Microsoft Corp. | 3.28% | 27,909 | $13.9M | Add +3.2% |
| META Meta Platforms Inc. Class A | 2.69% | 15,414 | $11.4M | Add +2.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.38% | 16,298 | $10.1M | Add +3.8% |
| AMZN Amazon.com Inc. | 2.36% | 45,475 | $10.0M | Add +3.7% |
| V Visa Inc. Class A | 2.25% | 26,863 | $9.5M | Add +1.1% |
| GOOG Alphabet Inc. Class C | 2.24% | 53,529 | $9.5M | Reduce -0.2% |
| AVGO Broadcom Inc. | 2.04% | 31,367 | $8.6M | Add +1.4% |
| JPM JPMorgan Chase & Co. | 1.88% | 27,396 | $7.9M | Add +2.0% |
| JAAA Janus Henderson Aaa Clo ETF | 1.83% | 152,613 | $7.7M | Reduce -0.8% |
| GOOGL Alphabet Inc. Class A | 1.45% | 34,742 | $6.1M | Add +4.0% |
| CRM Salesforce Inc. | 1.37% | 21,282 | $5.8M | Add +1.2% |
| MA Mastercard Inc. Class A | 1.31% | 9,879 | $5.6M | Add +2.9% |
| ABT Abbott Laboratories | 1.31% | 40,683 | $5.5M | Add +1.3% |
| SBUX Starbucks Corp. | 1.19% | 54,974 | $5.0M | Reduce -2.8% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 1.10% | 45,619 | $4.7M | Add +1.2% |
| CVX Chevron Corp. | 1.07% | 31,654 | $4.5M | Add +6.3% |
| ADX Adams Diversified Equity | 1.04% | 202,109 | $4.4M | Reduce -2.9% |
| AMGN Amgen Inc. | 1.03% | 15,595 | $4.4M | Add +2.1% |
| PEP Pepsico Inc. | 0.99% | 31,860 | $4.2M | Reduce -0.0% |
| VGIT Vanguard Intermediate-Term T | 0.95% | 67,502 | $4.0M | Add +0.3% |
| CAT Caterpillar Inc. | 0.91% | 9,961 | $3.9M | Add +2.7% |
| WM Waste Management Inc. | 0.91% | 16,761 | $3.8M | Add +0.8% |
| CTAS Cintas Corp. | 0.86% | 16,371 | $3.6M | Reduce -0.8% |
| WMT Walmart Inc. | 0.85% | 36,759 | $3.6M | Add +7.2% |
| LLY Eli Lilly & Co. | 0.83% | 4,504 | $3.5M | Add +6.8% |
| HD Home Depot Inc. | 0.82% | 9,480 | $3.5M | Add +1.6% |
| BSVO EA Bridgeway Omni Sm-Cp Val | 0.78% | 161,888 | $3.3M | Add +11.3% |
| NKE Nike Inc. Class B | 0.78% | 46,327 | $3.3M | Add +0.4% |
| IWM iShares Russell 2000 ETF | 0.76% | 14,853 | $3.2M | Add +0.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.75% | 25,562 | $3.2M | Reduce -3.0% |
| NFLX Netflix Inc. | 0.74% | 2,345 | $3.1M | Add +15.6% |
| FTNT Fortinet Inc. | 0.72% | 28,675 | $3.0M | No change |
| GS Goldman Sachs Group Inc. | 0.71% | 4,278 | $3.0M | Add +2.4% |
| AXP American Express Co. | 0.68% | 9,050 | $2.9M | Add +18.5% |
| ABBV Abbvie Inc. | 0.62% | 14,253 | $2.6M | Add +1.4% |
| XOM Exxon Mobil Corp. | 0.60% | 23,595 | $2.5M | Add +1.8% |
| AZO AutoZone Inc. | 0.60% | 684 | $2.5M | Add +2.7% |
| INTU Intuit Inc. | 0.59% | 3,189 | $2.5M | Add +2.4% |
| RVT Royce Small-Cap Trust Inc. | 0.58% | 164,625 | $2.5M | Reduce -3.3% |
| KO The Coca-Cola Co. | 0.58% | 34,606 | $2.4M | Reduce -2.6% |
| CMG Chipotle Mexican Grill Inc. | 0.57% | 42,823 | $2.4M | Add +4.4% |
| DFAC Dimensional US Core Equity 2 | 0.57% | 66,864 | $2.4M | Add +3.9% |
| URI United Rentals Inc. | 0.51% | 2,895 | $2.2M | Add +4.4% |
| LMT Lockheed Martin Corp. | 0.50% | 4,545 | $2.1M | Add +3.1% |
| PM Philip Morris International | 0.49% | 11,435 | $2.1M | Reduce -2.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.49% | 43,651 | $2.1M | Add +3.6% |
| LULU Lululemon Athletica Inc. | 0.48% | 8,614 | $2.0M | Add +1.0% |
| PG The Procter & Gamble Co. | 0.48% | 12,735 | $2.0M | Reduce -1.4% |
| NOC Northrop Grumman Corp. | 0.46% | 3,865 | $1.9M | Add +2.8% |
| TY Tri-Continental Corp. | 0.46% | 60,993 | $1.9M | Reduce -3.2% |
| ADBE Adobe Inc. | 0.45% | 4,927 | $1.9M | Add +2.1% |
| BLK BlackRock Inc. | 0.45% | 1,816 | $1.9M | Add +66.5% |
| MCD McDonald's Corp. | 0.45% | 6,479 | $1.9M | Reduce -3.0% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.43% | 55,753 | $1.8M | Reduce -0.0% |
| UBER Uber Technologies Inc. | 0.40% | 18,217 | $1.7M | Add +54.7% |
| JNJ Johnson & Johnson | 0.40% | 10,972 | $1.7M | Reduce -1.5% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.39% | 31,988 | $1.7M | Add +9.7% |
| ZM Zoom Communications Inc. | 0.36% | 19,711 | $1.5M | New |
| AVB Avalonbay Communities Inc. | 0.36% | 7,409 | $1.5M | Add +1.0% |
| YUM Yum! Brands Inc. | 0.36% | 10,172 | $1.5M | Add +5.9% |
| UNH Unitedhealth Group Inc. | 0.34% | 4,584 | $1.4M | Reduce -14.8% |
| ORCL Oracle Corp. | 0.33% | 6,382 | $1.4M | Add +3.5% |
| ROL Rollins Inc. | 0.33% | 24,503 | $1.4M | Add +0.3% |
| VOO Vanguard S&P 500 ETF | 0.32% | 2,395 | $1.4M | Reduce -0.4% |
| PANW Palo Alto Networks Inc. | 0.32% | 6,618 | $1.4M | Add +8.4% |
| NOW ServiceNow Inc. | 0.32% | 1,300 | $1.3M | Add +3.6% |
| GNRC Generac Holdings Inc. | 0.30% | 8,982 | $1.3M | Reduce -1.7% |
| TXN Texas Instruments Inc. | 0.30% | 6,155 | $1.3M | Add +0.7% |
| RTX RTX Corp. | 0.29% | 8,466 | $1.2M | Add +3.3% |
| HCA HCA Healthcare Inc. | 0.29% | 3,220 | $1.2M | Add +6.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 2,220 | $1.2M | Reduce -0.4% |
| PSA Public Storage | 0.28% | 4,078 | $1.2M | Add +0.1% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 4,611 | $1.2M | Add +15.9% |
| MDLZ Mondelez International Inc. Class A | 0.27% | 17,147 | $1.2M | Reduce -1.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 9,112 | $1.1M | Add +4.3% |
| DE Deere & Co. | 0.26% | 2,185 | $1.1M | Add +4.7% |
| DECK Deckers Outdoor Corp. | 0.26% | 10,569 | $1.1M | Add +7.8% |
| AMT American Tower Corp. | 0.25% | 4,853 | $1.1M | Reduce -3.5% |
| HSY The Hershey Co. | 0.24% | 6,241 | $1.0M | Add +0.2% |
| CBOE Cboe Global Markets Inc. | 0.24% | 4,344 | $1.0M | Add +11.5% |
| DFIV Dimensional International Va | 0.24% | 23,488 | $1.0M | Add +7.0% |
| USA Liberty All Star Equity Fund | 0.23% | 143,094 | $974K | Reduce -1.4% |
| O Realty Income Corp. | 0.23% | 16,596 | $956K | Add +1.1% |
| WFC Wells Fargo & Co. | 0.22% | 11,694 | $937K | Add +0.3% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.21% | 13,230 | $893K | Reduce -1.1% |
| ISRG Intuitive Surgical Inc. | 0.20% | 1,597 | $868K | Add +0.3% |
| ICE Intercontinental Exchange Inc. | 0.20% | 4,584 | $841K | Add +1.3% |
| MSCI MSCI Inc. | 0.20% | 1,444 | $833K | Reduce -2.1% |
| TSLA Tesla Inc. | 0.19% | 2,599 | $826K | Reduce -5.1% |
| PLTR Palantir Technologies Inc. Class A | 0.19% | 6,000 | $818K | Add +10.3% |
| WPC WP Carey Inc. | 0.19% | 12,947 | $808K | Reduce -1.1% |
| SNA Snap-on Inc. | 0.19% | 2,573 | $801K | Reduce -4.5% |
| EMR Emerson Electric Co. | 0.19% | 5,887 | $785K | Add +0.6% |
| BKNG Booking Holdings Inc. | 0.18% | 130 | $754K | New |
| SWK Stanley Black & Decker Inc. | 0.18% | 11,026 | $747K | Add +11.0% |
| AZN Astrazeneca PLC-Spons ADR | 0.17% | 10,535 | $736K | Reduce -5.4% |
Other holdings (3): bonds, preferreds, convertibles and warrants · $18.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 8,119 | $9.5M | Add +0.8% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 6,801 | $8.2M | Add +1.9% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 14,600 | $256K | Reduce -5.2% |
Total filed on the 13F, all lines: $441.6M.
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -14.8% | 0.34% | −0.38 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -80.8% | 0.05% | −0.24 |
| PEP Pepsico Inc. | Reduce -0.0% | 0.99% | −0.22 |
| SBUX Starbucks Corp. | Reduce -2.8% | 1.19% | −0.22 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -0.8% | 1.83% | −0.16 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.09 |
| MCD McDonald's Corp. | Reduce -3.0% | 0.45% | −0.08 |
| PG The Procter & Gamble Co. | Reduce -1.4% | 0.48% | −0.08 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.08 |
| JNJ Johnson & Johnson | Reduce -1.5% | 0.40% | −0.07 |
| KO The Coca-Cola Co. | Reduce -2.6% | 0.58% | −0.07 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.06 |
| HPQ HP Inc. | Sold out | 0.00% | −0.06 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.05 |
| SNA Snap-on Inc. | Reduce -4.5% | 0.19% | −0.04 |
| MRK Merck & Co. Inc. | Reduce -12.8% | 0.09% | −0.04 |
| TY Tri-Continental Corp. | Reduce -3.2% | 0.46% | −0.04 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -5.4% | 0.17% | −0.03 |
| VICI Vici Properties Inc. | Reduce -0.0% | 0.43% | −0.03 |
| VMRK Vivmark Residential | Reduce -1.1% | 0.21% | −0.03 |
| RVT Royce Small-Cap Trust Inc. | Reduce -3.3% | 0.58% | −0.03 |
| CCI Crown Castle Inc. | Reduce -18.2% | 0.09% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.9% | 0.27% | −0.03 |
| ESS Essex Property Trust Inc. | Reduce -0.5% | 0.15% | −0.03 |
| AMT American Tower Corp. | Reduce -3.5% | 0.25% | −0.03 |
| DUK Duke Energy Corp. | Reduce -4.9% | 0.14% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -2.6% | 0.14% | −0.02 |
| T AT&T Inc. | Reduce -11.9% | 0.12% | −0.02 |
| BCX BlackRock Resources & Commod | Reduce -7.2% | 0.14% | −0.02 |
| WPC WP Carey Inc. | Reduce -1.1% | 0.19% | −0.02 |
| PLD Prologis Inc. | Reduce -1.0% | 0.12% | −0.02 |
| PFE Pfizer Inc. | Reduce -14.2% | 0.06% | −0.02 |
| ELS Equity Lifestyle Properties | Reduce -1.2% | 0.09% | −0.02 |
| MSCI MSCI Inc. | Reduce -2.1% | 0.20% | −0.02 |
| SUI Sun Communities Inc. | Reduce -8.7% | 0.07% | −0.01 |
| PAYX Paychex Inc. | Reduce -0.8% | 0.08% | −0.01 |
| USA Liberty All Star Equity Fund | Reduce -1.4% | 0.23% | −0.01 |
| PRU Prudential Financial Inc. | Reduce -8.0% | 0.05% | −0.01 |
| XRNPX Cohen & Steers REIT and Pref | Reduce -4.1% | 0.12% | −0.01 |
| SO The Southern Co. | Reduce -2.7% | 0.10% | −0.01 |
| MUC BlackRock Munihold Ca QLTY | Reduce -1.1% | 0.07% | −0.01 |
| LOW Lowe's Cos Inc. | Reduce -0.7% | 0.06% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -0.5% | 0.07% | −0.01 |
| RFI Cohen & Steers Tot Ret RLTY | Reduce -3.0% | 0.07% | −0.01 |
| CME Cme Group Inc. | Reduce -0.2% | 0.15% | −0.01 |
| F Ford Motor Co. | Reduce -8.5% | 0.06% | −0.01 |
| KIM Kimco Realty Corp. | Reduce -2.3% | 0.05% | −0.01 |
| DFUS Dimensional US Eq MKT ETF | Reduce -12.1% | 0.05% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -7.2% | 0.13% | −0.00 |
| CTAS Cintas Corp. | Reduce -0.8% | 0.86% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +2.7% | 4.16% | +1.17 |
| AVGO Broadcom Inc. | Add +1.4% | 2.04% | +0.72 |
| MSFT Microsoft Corp. | Add +3.2% | 3.28% | +0.69 |
| META Meta Platforms Inc. Class A | Add +2.1% | 2.69% | +0.47 |
| ZM Zoom Communications Inc. | New | 0.36% | +0.36 |
| NFLX Netflix Inc. | Add +15.6% | 0.74% | +0.26 |
| AMZN Amazon.com Inc. | Add +3.7% | 2.36% | +0.23 |
| JPM JPMorgan Chase & Co. | Add +2.0% | 1.88% | +0.20 |
| BLK BlackRock Inc. | Add +66.5% | 0.45% | +0.19 |
| UBER Uber Technologies Inc. | Add +54.7% | 0.40% | +0.18 |
| BKNG Booking Holdings Inc. | New | 0.18% | +0.18 |
| AXP American Express Co. | Add +18.5% | 0.68% | +0.16 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +3.8% | 2.38% | +0.14 |
| GS Goldman Sachs Group Inc. | Add +2.4% | 0.71% | +0.13 |
| GOOGL Alphabet Inc. Class A | Add +4.0% | 1.45% | +0.13 |
| IRM Iron Mountain Inc. | Add +1.2% | 1.10% | +0.12 |
| ORCL Oracle Corp. | Add +3.5% | 0.33% | +0.11 |
| INTU Intuit Inc. | Add +2.4% | 0.59% | +0.11 |
| CAT Caterpillar Inc. | Add +2.7% | 0.91% | +0.10 |
| WMT Walmart Inc. | Add +7.2% | 0.85% | +0.08 |
| GE General Electric | Add +15.9% | 0.28% | +0.08 |
| PLTR Palantir Technologies Inc. Class A | Add +10.3% | 0.19% | +0.08 |
| URI United Rentals Inc. | Add +4.4% | 0.51% | +0.07 |
| GEV GE Vernova Inc. | Add +5.9% | 0.17% | +0.07 |
| ONON On Holding AG Class A | Add +9.7% | 0.39% | +0.07 |
| NOW ServiceNow Inc. | Add +3.6% | 0.32% | +0.06 |
| RACE Ferrari NV | New | 0.06% | +0.06 |
| MS Morgan Stanley | New | 0.06% | +0.06 |
| BSVO EA Bridgeway Omni Sm-Cp Val | Add +11.3% | 0.78% | +0.06 |
| COF Capital One Financial Corp. | New | 0.06% | +0.06 |
| SHAK Shake Shack Inc. Class A | Add +19.8% | 0.13% | +0.06 |
| PANW Palo Alto Networks Inc. | Add +8.4% | 0.32% | +0.05 |
| CMI Cummins Inc. | New | 0.05% | +0.05 |
| CMG Chipotle Mexican Grill Inc. | Add +4.4% | 0.57% | +0.04 |
| BAC Bank of America Corp. | Add +3.6% | 0.49% | +0.04 |
| ETN Eaton Corp. PLC | Add +10.1% | 0.13% | +0.03 |
| NKE Nike Inc. Class B | Add +0.4% | 0.78% | +0.03 |
| HCA HCA Healthcare Inc. | Add +6.9% | 0.29% | +0.03 |
| DFAC Dimensional US Core Equity 2 | Add +3.9% | 0.57% | +0.03 |
| TXN Texas Instruments Inc. | Add +0.7% | 0.30% | +0.02 |
| EMR Emerson Electric Co. | Add +0.6% | 0.19% | +0.02 |
| SOXX iShares Semiconductor ETF | Add +2.7% | 0.11% | +0.02 |
| AMAT Applied Materials Inc. | Add +0.1% | 0.12% | +0.02 |
| DFIV Dimensional International Va | Add +7.0% | 0.24% | +0.02 |
| DFEM Dimensional Emrg MRKT Core | Add +25.4% | 0.07% | +0.02 |
| DISV Dimensional International SM | Add +7.2% | 0.15% | +0.02 |
| RTX RTX Corp. | Add +3.3% | 0.29% | +0.02 |
| CBOE Cboe Global Markets Inc. | Add +11.5% | 0.24% | +0.01 |
| BA The Boeing Co. | Add +4.0% | 0.08% | +0.01 |
| DE Deere & Co. | Add +4.7% | 0.26% | +0.01 |
Options Activity Q1 2025 → Q2 2025
| AAPL Apple Inc. | put | Sold out | 90,000 | $20.0Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +0.8% | 8,119 | $9.5M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +1.9% | 6,801 | $8.2M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | Reduce -5.2% | 14,600 | $256K |
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 |