RB Capital Management, LLC

Name: RB Capital Management, LLC 13F holdings, Q3 2025
Creator: RB Capital Management, LLC
Published: 2025-10-21

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

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 21, 2025), RB Capital Management, LLC reported 182 stock positions worth $460.3 million. Its top holding was Apple (AAPL) at 15.4% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 4.9%) and Nvidia (NVDA, 4.5%). Compared with Q2 2025, it opened 10 new positions, sold out of 2, added to 111 and reduced 56. The biggest buy was Alphabet Class C (GOOG, shares +0%) and the biggest sale Costco Wholesale (COST, shares −1%).

Most Recent 13F: Q2 2026
Location: RENO, NV
CIK: 0001695582
Portfolio Value: $460.3M (Q3 2025)
SEC Filing: 0001695582-25-000003 ↗ filed Oct 21, 2025

Holdings Value

Holdings 182 stocks · $460.3M


AAPL Apple Inc.	15.39%	278,196	$70.8M	Reduce -0.3%
BRK.B Berkshire Hathaway Inc. Class B	4.88%	44,681	$22.5M	Add +0.2%
NVDA Nvidia Corp.	4.47%	110,359	$20.6M	Reduce -1.1%
COST Costco Wholesale Corp.	3.38%	16,793	$15.5M	Reduce -1.3%
MSFT Microsoft Corp.	3.16%	28,053	$14.5M	Add +0.5%
GOOG Alphabet Inc. Class C	2.84%	53,620	$13.1M	Add +0.2%
META Meta Platforms Inc. Class A	2.50%	15,669	$11.5M	Add +1.6%
SPY SS SPDR S&P 500 ETF Trust-US	2.31%	15,966	$10.6M	Reduce -2.0%
AVGO Broadcom Inc.	2.25%	31,362	$10.3M	Reduce -0.0%
AMZN Amazon.com Inc.	2.20%	46,217	$10.1M	Add +1.6%
V Visa Inc. Class A	2.03%	27,405	$9.4M	Add +2.0%
JPM JPMorgan Chase & Co.	1.93%	28,119	$8.9M	Add +2.6%
GOOGL Alphabet Inc. Class A	1.87%	35,319	$8.6M	Add +1.7%
JAAA Janus Henderson Aaa Clo ETF	1.65%	149,454	$7.6M	Reduce -2.1%
MA Mastercard Inc. Class A	1.24%	10,050	$5.7M	Add +1.7%
ABT Abbott Laboratories	1.19%	40,909	$5.5M	Add +0.6%
CRM Salesforce Inc.	1.10%	21,303	$5.0M	Add +0.1%
CVX Chevron Corp.	1.07%	31,645	$4.9M	Reduce -0.0%
CAT Caterpillar Inc.	1.06%	10,223	$4.9M	Add +2.6%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	1.04%	46,739	$4.8M	Add +2.5%
ADX Adams Diversified Equity	1.02%	210,594	$4.7M	Add +4.2%
SBUX Starbucks Corp.	1.01%	55,021	$4.7M	Add +0.1%
AMGN Amgen Inc.	0.98%	16,020	$4.5M	Add +2.7%
PEP Pepsico Inc.	0.98%	32,059	$4.5M	Add +0.6%
WMT Walmart Inc.	0.86%	38,222	$3.9M	Add +4.0%
HD Home Depot Inc.	0.84%	9,554	$3.9M	Add +0.8%
BSVO EA Bridgeway Omni Sm-Cp Val	0.83%	167,958	$3.8M	Add +3.8%
VGIT Vanguard Intermediate-Term T	0.82%	62,582	$3.8M	Reduce -7.3%
WM Waste Management Inc.	0.81%	16,945	$3.7M	Add +1.1%
IWM iShares Russell 2000 ETF	0.79%	15,032	$3.6M	Add +1.2%
LLY Eli Lilly & Co.	0.76%	4,597	$3.5M	Add +2.1%
GS Goldman Sachs Group Inc.	0.76%	4,388	$3.5M	Add +2.6%
ABBV Abbvie Inc.	0.74%	14,629	$3.4M	Add +2.6%
CTAS Cintas Corp.	0.73%	16,471	$3.4M	Add +0.6%
AXP American Express Co.	0.69%	9,605	$3.2M	Add +6.1%
NKE Nike Inc. Class B	0.69%	45,352	$3.2M	Reduce -2.1%
NFLX Netflix Inc.	0.66%	2,515	$3.0M	Add +7.3%
AZO AutoZone Inc.	0.65%	694	$3.0M	Add +1.5%
URI United Rentals Inc.	0.62%	2,973	$2.8M	Add +2.7%
XOM Exxon Mobil Corp.	0.60%	24,514	$2.8M	Add +3.9%
RVT Royce Small-Cap Trust Inc.	0.58%	165,823	$2.7M	Add +0.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.57%	22,938	$2.6M	Reduce -10.3%
DFAC Dimensional US Core Equity 2	0.57%	67,799	$2.6M	Add +1.4%
BLK BlackRock Inc.	0.54%	2,114	$2.5M	Add +16.4%
NOC Northrop Grumman Corp.	0.53%	3,998	$2.4M	Add +3.4%
FTNT Fortinet Inc.	0.51%	27,975	$2.4M	Reduce -2.4%
LMT Lockheed Martin Corp.	0.51%	4,675	$2.3M	Add +2.9%
KO The Coca-Cola Co.	0.51%	35,137	$2.3M	Add +1.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.50%	44,660	$2.3M	Add +2.3%
INTU Intuit Inc.	0.48%	3,238	$2.2M	Add +1.5%
UBER Uber Technologies Inc.	0.47%	22,103	$2.2M	Add +21.3%
TY Tri-Continental Corp.	0.45%	61,581	$2.1M	Add +1.0%
JNJ Johnson & Johnson	0.44%	10,816	$2.0M	Reduce -1.4%
MCD McDonald's Corp.	0.43%	6,501	$2.0M	Add +0.3%
ZM Zoom Communications Inc.	0.41%	22,993	$1.9M	Add +16.6%
PM Philip Morris International	0.41%	11,512	$1.9M	Add +0.7%
VOO Vanguard S&P 500 ETF	0.40%	3,033	$1.9M	Add +26.6%
PG The Procter & Gamble Co.	0.40%	12,063	$1.9M	Reduce -5.3%
VICI Vici Properties Inc. filed as VICI PPTYS INC	0.39%	55,002	$1.8M	Reduce -1.4%
ORCL Oracle Corp.	0.39%	6,343	$1.8M	Reduce -0.6%
CMG Chipotle Mexican Grill Inc.	0.36%	42,128	$1.7M	Reduce -1.6%
ADBE Adobe Inc.	0.35%	4,574	$1.6M	Reduce -7.2%
GE General Electric filed as GE AEROSPACE	0.34%	5,230	$1.6M	Add +13.4%
YUM Yum! Brands Inc.	0.34%	10,199	$1.6M	Add +0.3%
GNRC Generac Holdings Inc.	0.33%	8,972	$1.5M	Reduce -0.1%
PANW Palo Alto Networks Inc.	0.33%	7,349	$1.5M	Add +11.1%
ROL Rollins Inc.	0.32%	25,371	$1.5M	Add +3.5%
ONON On Holding AG Class A filed as ON HLDG AG	0.32%	34,712	$1.5M	Add +8.5%
RTX RTX Corp.	0.31%	8,598	$1.4M	Add +1.6%
BKNG Booking Holdings Inc.	0.31%	266	$1.4M	Add +104.6%
AVB Avalonbay Communities Inc.	0.31%	7,402	$1.4M	Reduce -0.1%
HCA HCA Healthcare Inc.	0.29%	3,172	$1.4M	Reduce -1.5%
QQQ Invesco QQQ Trust Series 1	0.29%	2,219	$1.3M	Reduce -0.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.29%	9,132	$1.3M	Add +0.2%
LULU Lululemon Athletica Inc.	0.28%	7,304	$1.3M	Reduce -15.2%
PLTR Palantir Technologies Inc. Class A	0.27%	6,887	$1.3M	Add +14.8%
NOW ServiceNow Inc.	0.26%	1,286	$1.2M	Reduce -1.1%
TSLA Tesla Inc.	0.26%	2,649	$1.2M	Add +1.9%
HSY The Hershey Co.	0.25%	6,261	$1.2M	Add +0.3%
PSA Public Storage	0.25%	4,043	$1.2M	Reduce -0.9%
TXN Texas Instruments Inc.	0.25%	6,194	$1.1M	Add +0.6%
CBOE Cboe Global Markets Inc.	0.24%	4,581	$1.1M	Add +5.5%
DE Deere & Co.	0.24%	2,447	$1.1M	Add +12.0%
DECK Deckers Outdoor Corp.	0.24%	10,679	$1.1M	Add +1.0%
DFIV Dimensional International Va	0.23%	23,232	$1.1M	Reduce -1.1%
O Realty Income Corp.	0.22%	16,473	$1.0M	Reduce -0.7%
MDLZ Mondelez International Inc. Class A	0.21%	15,634	$977K	Reduce -8.8%
WFC Wells Fargo & Co.	0.21%	11,543	$968K	Reduce -1.3%
USA Liberty All Star Equity Fund	0.21%	149,790	$950K	Add +4.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.20%	8,381	$913K	Add +4.9%
SNA Snap-on Inc.	0.19%	2,589	$897K	Add +0.6%
AMT American Tower Corp.	0.19%	4,641	$893K	Reduce -4.4%
UNH Unitedhealth Group Inc.	0.19%	2,573	$888K	Reduce -43.9%
WPC WP Carey Inc.	0.19%	13,072	$883K	Add +1.0%
GEV GE Vernova Inc.	0.19%	1,398	$860K	Add +2.3%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL	0.19%	13,272	$859K	Add +0.3%
AZN Astrazeneca PLC-Spons ADR	0.18%	11,092	$851K	Add +5.3%
MSCI MSCI Inc.	0.17%	1,396	$792K	Reduce -3.3%
EMR Emerson Electric Co.	0.17%	5,893	$773K	Add +0.1%
VGT Vanguard Info Tech ETF	0.17%	1,019	$761K	No change
ICE Intercontinental Exchange Inc.	0.16%	4,478	$754K	Reduce -2.3%
SWK Stanley Black & Decker Inc.	0.16%	10,062	$748K	Reduce -8.7%
ISRG Intuitive Surgical Inc.	0.16%	1,663	$744K	Add +4.1%
DISV Dimensional International SM	0.16%	20,715	$739K	Add +5.8%
DLR Digital Realty Trust Inc.	0.16%	4,143	$716K	Add +2.5%
GLD SPDR Gold Shares	0.15%	1,981	$704K	Add +2.9%
ORLY O'reilly Automotive Inc.	0.15%	6,286	$678K	New
VZ Verizon Communications Inc.	0.14%	14,571	$640K	Add +2.8%
BCX BlackRock Resources & Commod	0.14%	62,291	$634K	Add +2.0%
ETN Eaton Corp. PLC	0.14%	1,687	$632K	Add +9.5%
ESS Essex Property Trust Inc.	0.13%	2,311	$619K	Reduce -0.3%
HON Honeywell International Inc.	0.13%	2,927	$616K	Reduce -1.1%
CME Cme Group Inc.	0.13%	2,271	$614K	Add +1.1%
DUK Duke Energy Corp.	0.13%	4,953	$613K	Reduce -3.1%
ALL Allstate Corp.	0.13%	2,810	$603K	Reduce -2.8%
L Loews Corp.	0.13%	6,000	$602K	No change
PLD Prologis Inc.	0.13%	5,185	$594K	Add +5.5%
CSCO Cisco Systems Inc.	0.13%	8,634	$591K	Add +4.8%
VTI VG Morningstar TS MKT ETF-US	0.12%	1,748	$574K	Add +2.6%
TMDX Transmedics Group Inc.	0.12%	5,081	$570K	Add +70.0%
AMAT Applied Materials Inc.	0.12%	2,771	$567K	Add +0.2%
DFAX Dimensional World Ex US Core	0.12%	17,879	$561K	Reduce -0.6%
SOXX iShares Semiconductor ETF	0.12%	1,991	$540K	Reduce -2.1%
XRNPX Cohen & Steers REIT and Pref	0.11%	22,854	$514K	Add +0.3%
BX Blackstone Inc.	0.11%	2,906	$497K	Add +0.6%
T AT&T Inc.	0.11%	17,125	$484K	Add +1.3%
SO The Southern Co.	0.10%	4,868	$461K	Add +5.8%
EQIX Equinix Inc.	0.09%	543	$426K	Add +6.5%
SHAK Shake Shack Inc. Class A	0.09%	4,511	$422K	Add +14.6%
SPYM Ste STR SPDR PT S&P 500 ETF	0.09%	5,170	$405K	Reduce -1.5%
DFUV Dimensional US Marketwide Va	0.09%	8,795	$393K	Reduce -0.9%
DFEM Dimensional Emrg MRKT Core	0.09%	12,194	$391K	Add +14.6%
IGV iShares Expanded Tech-Softwa	0.08%	3,300	$380K	No change
GEHC GE Healthcare Technology	0.08%	4,889	$367K	Reduce -14.8%
IWF iShares Russell 1000 Growth	0.08%	782	$366K	Add +0.1%
DFLV Dim US Large Cap Value ETF	0.08%	10,880	$358K	Add +3.3%
IBB iShares Biotechnology ETF	0.08%	2,472	$357K	Add +0.0%
CCI Crown Castle Inc.	0.08%	3,651	$352K	Reduce -0.7%
SYK Stryker Corp.	0.08%	941	$348K	Add +7.3%
APP AppLovin Corp. Class A	0.08%	481	$346K	New
MRK Merck & Co. Inc.	0.07%	4,106	$345K	Reduce -15.2%
BA The Boeing Co.	0.07%	1,558	$336K	Reduce -8.9%
CSX CSX Corp.	0.07%	9,427	$335K	Add +4.7%
ED Consolidated Edison Inc.	0.07%	3,268	$328K	Add +3.1%
MMM 3M Co.	0.07%	2,105	$327K	Reduce -1.0%
ELS Equity Lifestyle Properties	0.07%	5,364	$326K	Reduce -9.7%
ESGV Vanguard ESG US Stock ETF	0.07%	2,709	$321K	No change
MS Morgan Stanley	0.07%	1,998	$318K	Add +11.5%
MUC BlackRock Munihold Ca QLTY	0.07%	29,133	$316K	Add +1.4%
NOBL Proshares S&P 500 Dividend A	0.07%	3,057	$315K	Add +14.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.07%	1,084	$306K	Add +10.6%
LOW Lowe's Cos Inc.	0.07%	1,213	$305K	Reduce -0.3%
PAYX Paychex Inc.	0.07%	2,360	$299K	Add +0.7%
SUI Sun Communities Inc. filed as SUN CMNTYS INC	0.06%	2,280	$294K	Reduce -8.5%
EOD Allspring Global Dividend Op	0.06%	51,039	$291K	Add +1.4%
RFI Cohen & Steers Tot Ret RLTY	0.06%	23,738	$287K	Add +0.8%
CMI Cummins Inc.	0.06%	678	$286K	Add +7.5%
GRMN Garmin Ltd.	0.06%	1,150	$283K	Add +0.3%
RACE Ferrari NV	0.06%	583	$282K	Add +12.8%
CB Chubb Ltd.	0.06%	996	$281K	Reduce -11.4%
F Ford Motor Co. filed as FORD MTR CO	0.06%	22,678	$271K	Reduce -8.4%
SLV iShares Silver Trust	0.05%	5,850	$248K	New
PFE Pfizer Inc.	0.05%	9,572	$244K	Reduce -5.6%
PRU Prudential Financial Inc.	0.05%	2,347	$244K	Add +16.2%
COF Capital One Financial Corp.	0.05%	1,139	$242K	Add +0.2%
CMCSA Comcast Corp. Class A	0.05%	7,601	$239K	Reduce -4.2%
LAMR Lamar Advertising Co. Class A	0.05%	1,865	$228K	Add +4.6%
OKE Oneok Inc.	0.05%	3,096	$226K	Add +2.1%
FIS Fidelity National Info Serv	0.05%	3,253	$215K	Reduce -33.2%
INTC Intel Corp.	0.05%	6,383	$214K	New
HPQ HP Inc.	0.05%	7,860	$214K	New
KIM Kimco Realty Corp.	0.05%	9,741	$213K	Reduce -3.2%
DFUS Dimensional US Eq MKT ETF	0.05%	2,935	$213K	Reduce -10.2%
LNG Cheniere Energy Inc.	0.05%	892	$210K	New
VEA Vanguard Ftse Developed ETF	0.05%	3,495	$209K	New
LRCX Lam Research Corp.	0.05%	1,559	$209K	New
SCHO Schwab Short-Term US Treas	0.04%	8,400	$205K	New
FAST Fastenal Co.	0.04%	4,090	$201K	New
NAC Nuveen Ca QLTY Muni Inc.	0.04%	16,038	$184K	Add +1.6%
VCV Invesco Ca Val Muni Inc. TR	0.03%	12,366	$131K	Add +1.9%
NCA Nuveen California Muni Val	0.02%	12,830	$114K	Add +0.4%
AMTX Aemetis Inc.	0.00%	10,000	$23K	No change

Options reported separately and not counted above: APPLE INC puts ($5.1M).

Other holdings (5): bonds, preferreds, convertibles and warrants · $19.2M (not counted above)

Security	Class	Shares / Principal	Value	Change
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	8,138	$10.0M	Add +0.2%
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	6,886	$8.8M	Add +1.3%
PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E)	6.375 PFD SER E	14,200	$287K	Reduce -2.7%
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28)	NOTE 1.750% 8/1 · principal	10,000	$9K	New
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	10,000	$9K	New

Total filed on the 13F, all lines: $479.4M.

Portfolio Sells Q2 2025 → Q3 2025


COST Costco Wholesale Corp.	Reduce -1.3%	3.38%	−0.60
CMG Chipotle Mexican Grill Inc.	Reduce -1.6%	0.36%	−0.21
FTNT Fortinet Inc.	Reduce -2.4%	0.51%	−0.20
LULU Lululemon Athletica Inc.	Reduce -15.2%	0.28%	−0.20
JAAA Janus Henderson Aaa Clo ETF	Reduce -2.1%	1.65%	−0.18
DIS The Walt Disney Co.	Reduce -10.3%	0.57%	−0.18
UNH Unitedhealth Group Inc.	Reduce -43.9%	0.19%	−0.14
VGIT Vanguard Intermediate-Term T	Reduce -7.3%	0.82%	−0.14
ADBE Adobe Inc.	Reduce -7.2%	0.35%	−0.10
NKE Nike Inc. Class B	Reduce -2.1%	0.69%	−0.09
PG The Procter & Gamble Co.	Reduce -5.3%	0.40%	−0.08
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -2.0%	2.31%	−0.07
MDLZ Mondelez International Inc. Class A	Reduce -8.8%	0.21%	−0.06
AMT American Tower Corp.	Reduce -4.4%	0.19%	−0.06
NOW ServiceNow Inc.	Reduce -1.1%	0.26%	−0.06
SRE Sempra	Sold out	0.00%	−0.05
NVO Novo-Nordisk A/S-Spons ADR	Sold out	0.00%	−0.05
FIS Fidelity National Info Serv	Reduce -33.2%	0.05%	−0.05
AVB Avalonbay Communities Inc.	Reduce -0.1%	0.31%	−0.05
VICI Vici Properties Inc.	Reduce -1.4%	0.39%	−0.04
ICE Intercontinental Exchange Inc.	Reduce -2.3%	0.16%	−0.03
HON Honeywell International Inc.	Reduce -1.1%	0.13%	−0.03
PSA Public Storage	Reduce -0.9%	0.25%	−0.03
MSCI MSCI Inc.	Reduce -3.3%	0.17%	−0.02
ESS Essex Property Trust Inc.	Reduce -0.3%	0.13%	−0.02
GEHC GE Healthcare Technology	Reduce -14.8%	0.08%	−0.02
CB Chubb Ltd.	Reduce -11.4%	0.06%	−0.02
ELS Equity Lifestyle Properties	Reduce -9.7%	0.07%	−0.02
MRK Merck & Co. Inc.	Reduce -15.2%	0.07%	−0.02
CMCSA Comcast Corp. Class A	Reduce -4.2%	0.05%	−0.01
SWK Stanley Black & Decker Inc.	Reduce -8.7%	0.16%	−0.01
CCI Crown Castle Inc.	Reduce -0.7%	0.08%	−0.01
BA The Boeing Co.	Reduce -8.9%	0.07%	−0.01
WFC Wells Fargo & Co.	Reduce -1.3%	0.21%	−0.01
SUI Sun Communities Inc.	Reduce -8.5%	0.06%	−0.01
DUK Duke Energy Corp.	Reduce -3.1%	0.13%	−0.01
O Realty Income Corp.	Reduce -0.7%	0.22%	−0.01
ALL Allstate Corp.	Reduce -2.8%	0.13%	−0.01
DFUS Dimensional US Eq MKT ETF	Reduce -10.2%	0.05%	−0.01
MMM 3M Co.	Reduce -1.0%	0.07%	−0.01
PFE Pfizer Inc.	Reduce -5.6%	0.05%	−0.01
DFIV Dimensional International Va	Reduce -1.1%	0.23%	−0.00
F Ford Motor Co.	Reduce -8.4%	0.06%	−0.00
KIM Kimco Realty Corp.	Reduce -3.2%	0.05%	−0.00
DFUV Dimensional US Marketwide Va	Reduce -0.9%	0.09%	−0.00
DFAX Dimensional World Ex US Core	Reduce -0.6%	0.12%	−0.00
CVX Chevron Corp.	Reduce -0.0%	1.07%	−0.00
SPYM Ste STR SPDR PT S&P 500 ETF	Reduce -1.5%	0.09%	−0.00
QQQ Invesco QQQ Trust Series 1	Reduce -0.1%	0.29%	+0.00
LOW Lowe's Cos Inc.	Reduce -0.3%	0.07%	+0.00

Portfolio Buys Q2 2025 → Q3 2025


GOOG Alphabet Inc. Class C	Add +0.2%	2.84%	+0.60
GOOGL Alphabet Inc. Class A	Add +1.7%	1.87%	+0.42
ORLY O'reilly Automotive Inc.	New	0.15%	+0.15
CAT Caterpillar Inc.	Add +2.6%	1.06%	+0.15
BKNG Booking Holdings Inc.	Add +104.6%	0.31%	+0.13
ABBV Abbvie Inc.	Add +2.6%	0.74%	+0.11
URI United Rentals Inc.	Add +2.7%	0.62%	+0.10
BLK BlackRock Inc.	Add +16.4%	0.54%	+0.09
VOO Vanguard S&P 500 ETF	Add +26.6%	0.40%	+0.08
PLTR Palantir Technologies Inc. Class A	Add +14.8%	0.27%	+0.08
APP AppLovin Corp. Class A	New	0.08%	+0.08
NOC Northrop Grumman Corp.	Add +3.4%	0.53%	+0.07
UBER Uber Technologies Inc.	Add +21.3%	0.47%	+0.07
GE General Electric	Add +13.4%	0.34%	+0.06
TSLA Tesla Inc.	Add +1.9%	0.26%	+0.06
SLV iShares Silver Trust	New	0.05%	+0.05
JPM JPMorgan Chase & Co.	Add +2.6%	1.93%	+0.05
ZM Zoom Communications Inc.	Add +16.6%	0.41%	+0.05
BSVO EA Bridgeway Omni Sm-Cp Val	Add +3.8%	0.83%	+0.05
AZO AutoZone Inc.	Add +1.5%	0.65%	+0.05
HPQ HP Inc.	New	0.05%	+0.05
INTC Intel Corp.	New	0.05%	+0.05
LNG Cheniere Energy Inc.	New	0.05%	+0.05
VEA Vanguard Ftse Developed ETF	New	0.05%	+0.05
LRCX Lam Research Corp.	New	0.05%	+0.05
GS Goldman Sachs Group Inc.	Add +2.6%	0.76%	+0.04
SCHO Schwab Short-Term US Treas	New	0.04%	+0.04
FAST Fastenal Co.	New	0.04%	+0.04
IWM iShares Russell 2000 ETF	Add +1.2%	0.79%	+0.03
TMDX Transmedics Group Inc.	Add +70.0%	0.12%	+0.03
BNY Bank of New York Mellon Corp.	Add +4.9%	0.20%	+0.03
TJX TJX Companies Inc.	Add +0.2%	0.29%	+0.02
RTX RTX Corp.	Add +1.6%	0.31%	+0.02
HD Home Depot Inc.	Add +0.8%	0.84%	+0.02
GEV GE Vernova Inc.	Add +2.3%	0.19%	+0.02
GLD SPDR Gold Shares	Add +2.9%	0.15%	+0.01
CMI Cummins Inc.	Add +7.5%	0.06%	+0.01
BAC Bank of America Corp.	Add +2.3%	0.50%	+0.01
AXP American Express Co.	Add +6.1%	0.69%	+0.01
AZN Astrazeneca PLC-Spons ADR	Add +5.3%	0.18%	+0.01
DFEM Dimensional Emrg MRKT Core	Add +14.6%	0.09%	+0.01
LMT Lockheed Martin Corp.	Add +2.9%	0.51%	+0.01
HSY The Hershey Co.	Add +0.3%	0.25%	+0.01
MS Morgan Stanley	Add +11.5%	0.07%	+0.01
DISV Dimensional International SM	Add +5.8%	0.16%	+0.01
ETN Eaton Corp. PLC	Add +9.5%	0.14%	+0.01
WMT Walmart Inc.	Add +4.0%	0.86%	+0.01
PLD Prologis Inc.	Add +5.5%	0.13%	+0.01
BX Blackstone Inc.	Add +0.6%	0.11%	+0.01
SNA Snap-on Inc.	Add +0.6%	0.19%	+0.01

Options Activity Q2 2025 → Q3 2025


APPLE INC	put	New	20,000	$5.1M

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

Notes & Other Activity Q2 2025 → Q3 2025


WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	Add +0.2%	8,138	$10.0M
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	Add +1.3%	6,886	$8.8M
PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E)	6.375 PFD SER E	Reduce -2.7%	14,200	$287K
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28)	NOTE 1.750% 8/1 · principal	New	10,000	$9K
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	New	10,000	$9K

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