RB Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), RB Capital Management, LLC reported 189 stock positions worth $473.9 million. Its top holding was Apple (AAPL) at 15.5% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 4.9%) and Nvidia (NVDA, 4.3%). Compared with Q3 2025, it opened 16 new positions, sold out of 9, added to 82 and reduced 81. The biggest buy was a new position in D-Wave Quantum (QBTS) and the biggest sale Costco Wholesale (COST, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- RENO, NV
- CIK
- 0001695582
- Portfolio Value
- $473.9M (Q4 2025)
- SEC Filing
- 0001695582-26-000001 ↗ filed Feb 3, 2026
Holdings Value
Holdings 189 stocks · $473.9M
| AAPL Apple Inc. | 15.49% | 269,970 | $73.4M | Reduce -3.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.85% | 45,747 | $23.0M | Add +2.4% |
| NVDA Nvidia Corp. | 4.34% | 110,353 | $20.6M | Reduce -0.0% |
| GOOG Alphabet Inc. Class C | 3.52% | 53,090 | $16.7M | Reduce -1.0% |
| COST Costco Wholesale Corp. | 3.02% | 16,579 | $14.3M | Reduce -1.3% |
| MSFT Microsoft Corp. | 2.93% | 28,671 | $13.9M | Add +2.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.34% | 16,239 | $11.1M | Add +1.7% |
| AMZN Amazon.com Inc. | 2.26% | 46,495 | $10.7M | Add +0.6% |
| GOOGL Alphabet Inc. Class A | 2.26% | 34,142 | $10.7M | Reduce -3.3% |
| META Meta Platforms Inc. Class A | 2.23% | 15,984 | $10.6M | Add +2.0% |
| AVGO Broadcom Inc. | 2.21% | 30,275 | $10.5M | Reduce -3.5% |
| V Visa Inc. Class A | 2.03% | 27,495 | $9.6M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 1.93% | 28,394 | $9.1M | Add +1.0% |
| JAAA Janus Henderson Aaa Clo ETF | 1.57% | 147,171 | $7.4M | Reduce -1.5% |
| ABT Abbott Laboratories | 1.36% | 51,282 | $6.4M | Add +25.4% |
| CAT Caterpillar Inc. | 1.24% | 10,282 | $5.9M | Add +0.6% |
| MA Mastercard Inc. Class A | 1.23% | 10,224 | $5.8M | Add +1.7% |
| CRM Salesforce Inc. | 1.16% | 20,818 | $5.5M | Reduce -2.3% |
| AMGN Amgen Inc. | 1.12% | 16,277 | $5.3M | Add +1.6% |
| LLY Eli Lilly & Co. | 1.04% | 4,605 | $4.9M | Add +0.2% |
| CVX Chevron Corp. | 1.04% | 32,269 | $4.9M | Add +2.0% |
| ADX Adams Diversified Equity | 1.03% | 208,462 | $4.9M | Reduce -1.0% |
| PEP Pepsico Inc. | 0.93% | 30,803 | $4.4M | Reduce -3.9% |
| WMT Walmart Inc. | 0.90% | 38,367 | $4.3M | Add +0.4% |
| SBUX Starbucks Corp. | 0.90% | 50,567 | $4.3M | Reduce -8.1% |
| VGIT Vanguard Intermediate-Term T | 0.89% | 70,402 | $4.2M | Add +12.5% |
| BSVO EA Bridgeway Omni Sm-Cp Val | 0.87% | 176,495 | $4.1M | Add +5.1% |
| GS Goldman Sachs Group Inc. | 0.84% | 4,513 | $4.0M | Add +2.9% |
| AXP American Express Co. | 0.84% | 10,703 | $4.0M | Add +11.4% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.83% | 47,216 | $3.9M | Add +1.0% |
| NFLX Netflix Inc. | 0.80% | 40,465 | $3.8M | Add +60.9% |
| WM Waste Management Inc. | 0.78% | 16,852 | $3.7M | Reduce -0.6% |
| ABBV Abbvie Inc. | 0.71% | 14,733 | $3.4M | Add +0.7% |
| HD Home Depot Inc. | 0.68% | 9,299 | $3.2M | Reduce -2.7% |
| VOO Vanguard S&P 500 ETF | 0.64% | 4,860 | $3.0M | Add +60.2% |
| XOM Exxon Mobil Corp. | 0.63% | 24,940 | $3.0M | Add +1.7% |
| DFAC Dimensional US Core Equity 2 | 0.58% | 69,393 | $2.7M | Add +2.4% |
| RVT Royce Small-Cap Trust Inc. | 0.58% | 170,498 | $2.7M | Add +2.8% |
| NKE Nike Inc. Class B | 0.56% | 41,310 | $2.6M | Reduce -8.9% |
| CTAS Cintas Corp. | 0.53% | 13,422 | $2.5M | Reduce -18.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.52% | 21,745 | $2.5M | Reduce -5.2% |
| KO The Coca-Cola Co. | 0.52% | 35,093 | $2.5M | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.52% | 44,467 | $2.4M | Reduce -0.4% |
| BLK BlackRock Inc. | 0.51% | 2,271 | $2.4M | Add +7.4% |
| URI United Rentals Inc. | 0.51% | 3,000 | $2.4M | Add +0.9% |
| AZO AutoZone Inc. | 0.49% | 681 | $2.3M | Reduce -1.9% |
| NOC Northrop Grumman Corp. | 0.48% | 3,980 | $2.3M | Reduce -0.5% |
| LMT Lockheed Martin Corp. | 0.47% | 4,637 | $2.2M | Reduce -0.8% |
| UBER Uber Technologies Inc. | 0.47% | 27,214 | $2.2M | Add +23.1% |
| IWM iShares Russell 2000 ETF | 0.47% | 9,002 | $2.2M | Reduce -40.1% |
| ZM Zoom Communications Inc. | 0.46% | 25,329 | $2.2M | Add +10.2% |
| JNJ Johnson & Johnson | 0.45% | 10,302 | $2.1M | Reduce -4.8% |
| INTU Intuit Inc. | 0.45% | 3,199 | $2.1M | Reduce -1.2% |
| QBTS D-Wave Quantum Inc. | 0.44% | 80,350 | $2.1M | New |
| TY Tri-Continental Corp. | 0.44% | 63,494 | $2.1M | Add +3.1% |
| FTNT Fortinet Inc. | 0.43% | 25,450 | $2.0M | Reduce -9.0% |
| MCD McDonald's Corp. | 0.42% | 6,485 | $2.0M | Reduce -0.3% |
| GE General Electric filed as GE AEROSPACE | 0.38% | 5,824 | $1.8M | Add +11.4% |
| PG The Procter & Gamble Co. | 0.37% | 12,321 | $1.8M | Add +2.1% |
| PM Philip Morris International | 0.37% | 10,952 | $1.8M | Reduce -4.9% |
| BKNG Booking Holdings Inc. | 0.35% | 310 | $1.7M | Add +16.5% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.33% | 34,091 | $1.6M | Reduce -1.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.33% | 2,553 | $1.6M | Add +15.1% |
| YUM Yum! Brands Inc. | 0.32% | 10,177 | $1.5M | Reduce -0.2% |
| RTX RTX Corp. | 0.32% | 8,245 | $1.5M | Reduce -4.1% |
| ROL Rollins Inc. | 0.32% | 25,052 | $1.5M | Reduce -1.3% |
| ORCL Oracle Corp. | 0.31% | 7,583 | $1.5M | Add +19.6% |
| ADBE Adobe Inc. | 0.31% | 4,164 | $1.5M | Reduce -9.0% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.30% | 50,543 | $1.4M | Reduce -8.1% |
| HCA HCA Healthcare Inc. | 0.30% | 3,020 | $1.4M | Reduce -4.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.30% | 9,148 | $1.4M | Add +0.2% |
| PLTR Palantir Technologies Inc. Class A | 0.28% | 7,595 | $1.4M | Add +10.3% |
| PANW Palo Alto Networks Inc. | 0.28% | 7,279 | $1.3M | Reduce -0.9% |
| AVB Avalonbay Communities Inc. | 0.28% | 7,327 | $1.3M | Reduce -1.0% |
| TSLA Tesla Inc. | 0.26% | 2,778 | $1.2M | Add +4.9% |
| GLD SPDR Gold Shares | 0.26% | 3,112 | $1.2M | Add +57.1% |
| CBOE Cboe Global Markets Inc. | 0.26% | 4,873 | $1.2M | Add +6.4% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.26% | 10,472 | $1.2M | Add +24.9% |
| WFC Wells Fargo & Co. | 0.25% | 12,927 | $1.2M | Add +12.0% |
| GNRC Generac Holdings Inc. | 0.25% | 8,783 | $1.2M | Reduce -2.1% |
| LULU Lululemon Athletica Inc. | 0.25% | 5,715 | $1.2M | Reduce -21.8% |
| DFIV Dimensional International Va | 0.25% | 23,285 | $1.2M | Add +0.2% |
| DE Deere & Co. | 0.24% | 2,482 | $1.2M | Add +1.4% |
| HSY The Hershey Co. | 0.24% | 6,244 | $1.1M | Reduce -0.3% |
| PSA Public Storage | 0.22% | 3,939 | $1.0M | Reduce -2.6% |
| GEV GE Vernova Inc. | 0.21% | 1,558 | $1.0M | Add +11.4% |
| AZN Astrazeneca PLC-Spons ADR | 0.21% | 10,686 | $982K | Reduce -3.7% |
| ISRG Intuitive Surgical Inc. | 0.20% | 1,689 | $957K | Add +1.6% |
| NOW ServiceNow Inc. | 0.20% | 6,065 | $929K | Reduce -5.7% |
| USA Liberty All Star Equity Fund | 0.19% | 146,542 | $920K | Reduce -2.2% |
| O Realty Income Corp. | 0.19% | 16,278 | $918K | Reduce -1.2% |
| SNA Snap-on Inc. | 0.18% | 2,464 | $849K | Reduce -4.8% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.17% | 13,110 | $826K | Reduce -1.2% |
| ORLY O'reilly Automotive Inc. | 0.17% | 8,918 | $813K | Add +41.9% |
| WPC WP Carey Inc. | 0.17% | 12,513 | $805K | Reduce -4.3% |
| DISV Dimensional International SM | 0.17% | 21,042 | $800K | Add +1.6% |
| EMR Emerson Electric Co. | 0.17% | 5,914 | $785K | Add +0.4% |
| VGT Vanguard Info Tech ETF | 0.16% | 1,019 | $768K | No change |
| MSCI MSCI Inc. | 0.16% | 1,326 | $761K | Reduce -5.0% |
| ICE Intercontinental Exchange Inc. | 0.16% | 4,646 | $752K | Add +3.8% |
Options reported separately and not counted above: AAPL puts ($8.2M), QBTS puts ($2.1M), SGMT puts ($474K).
Other holdings (5): bonds, preferreds, convertibles and warrants · $18.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 8,138 | $9.9M | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 6,955 | $8.7M | Add +1.0% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 14,200 | $271K | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 10,000 | $10K | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 10,000 | $9K | No change |
Total filed on the 13F, all lines: $492.7M.
Portfolio Sells Q3 2025 → Q4 2025
| COST Costco Wholesale Corp. | Reduce -1.3% | 3.02% | −0.36 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.36 |
| IWM iShares Russell 2000 ETF | Reduce -40.1% | 0.47% | −0.32 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.25 |
| CTAS Cintas Corp. | Reduce -18.5% | 0.53% | −0.20 |
| HD Home Depot Inc. | Reduce -2.7% | 0.68% | −0.17 |
| AZO AutoZone Inc. | Reduce -1.9% | 0.49% | −0.16 |
| NKE Nike Inc. Class B | Reduce -8.9% | 0.56% | −0.13 |
| NVDA Nvidia Corp. | Reduce -0.0% | 4.34% | −0.13 |
| SBUX Starbucks Corp. | Reduce -8.1% | 0.90% | −0.11 |
| VICI Vici Properties Inc. | Reduce -8.1% | 0.30% | −0.09 |
| DECK Deckers Outdoor Corp. | Reduce -37.1% | 0.15% | −0.09 |
| FTNT Fortinet Inc. | Reduce -9.0% | 0.43% | −0.08 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -1.5% | 1.57% | −0.08 |
| GNRC Generac Holdings Inc. | Reduce -2.1% | 0.25% | −0.07 |
| UNH Unitedhealth Group Inc. | Reduce -28.7% | 0.13% | −0.07 |
| PAYX Paychex Inc. | Sold out | 0.00% | −0.07 |
| NOW ServiceNow Inc. | Reduce -5.7% | 0.20% | −0.06 |
| MDLZ Mondelez International Inc. Class A | Reduce -12.5% | 0.16% | −0.06 |
| NOC Northrop Grumman Corp. | Reduce -0.5% | 0.48% | −0.05 |
| DIS The Walt Disney Co. | Reduce -5.2% | 0.52% | −0.05 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.05 |
| HPQ HP Inc. | Sold out | 0.00% | −0.05 |
| KIM Kimco Realty Corp. | Sold out | 0.00% | −0.05 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.05 |
| PEP Pepsico Inc. | Reduce -3.9% | 0.93% | −0.05 |
| ETN Eaton Corp. PLC | Reduce -18.9% | 0.09% | −0.05 |
| SCHO Schwab Short-Term US Treas | Sold out | 0.00% | −0.04 |
| FAST Fastenal Co. | Sold out | 0.00% | −0.04 |
| AMT American Tower Corp. | Reduce -12.5% | 0.15% | −0.04 |
| ADBE Adobe Inc. | Reduce -9.0% | 0.31% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -0.9% | 0.28% | −0.04 |
| PSA Public Storage | Reduce -2.6% | 0.22% | −0.04 |
| AVGO Broadcom Inc. | Reduce -3.5% | 2.21% | −0.04 |
| PM Philip Morris International | Reduce -4.9% | 0.37% | −0.03 |
| LMT Lockheed Martin Corp. | Reduce -0.8% | 0.47% | −0.03 |
| INTU Intuit Inc. | Reduce -1.2% | 0.45% | −0.03 |
| LULU Lululemon Athletica Inc. | Reduce -21.8% | 0.25% | −0.03 |
| WM Waste Management Inc. | Reduce -0.6% | 0.78% | −0.03 |
| AVB Avalonbay Communities Inc. | Reduce -1.0% | 0.28% | −0.03 |
| XRNPX Cohen & Steers REIT and Pref | Reduce -13.3% | 0.08% | −0.03 |
| SWK Stanley Black & Decker Inc. | Reduce -14.2% | 0.14% | −0.03 |
| O Realty Income Corp. | Reduce -1.2% | 0.19% | −0.02 |
| SHAK Shake Shack Inc. Class A | Reduce -10.1% | 0.07% | −0.02 |
| WPC WP Carey Inc. | Reduce -4.3% | 0.17% | −0.02 |
| HON Honeywell International Inc. | Reduce -4.4% | 0.12% | −0.02 |
| CCI Crown Castle Inc. | Reduce -15.1% | 0.06% | −0.02 |
| RFI Cohen & Steers Tot Ret RLTY | Reduce -20.3% | 0.04% | −0.02 |
| DUK Duke Energy Corp. | Reduce -5.5% | 0.12% | −0.02 |
| T AT&T Inc. | Reduce -0.4% | 0.09% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| QBTS D-Wave Quantum Inc. | New | 0.44% | +0.44 |
| LLY Eli Lilly & Co. | Add +0.2% | 1.04% | +0.28 |
| VOO Vanguard S&P 500 ETF | Add +60.2% | 0.64% | +0.24 |
| CAT Caterpillar Inc. | Add +0.6% | 1.24% | +0.18 |
| ABT Abbott Laboratories | Add +25.4% | 1.36% | +0.17 |
| NFLX Netflix Inc. | Add +60.9% | 0.80% | +0.15 |
| AXP American Express Co. | Add +11.4% | 0.84% | +0.14 |
| AMGN Amgen Inc. | Add +1.6% | 1.12% | +0.14 |
| SGMT Sagimet Biosciences Inc. Class A | New | 0.12% | +0.12 |
| GLD SPDR Gold Shares | Add +57.1% | 0.26% | +0.11 |
| CSX CSX Corp. | Add +114.6% | 0.15% | +0.08 |
| GS Goldman Sachs Group Inc. | Add +2.9% | 0.84% | +0.08 |
| PH Parker Hannifin Corp. | New | 0.08% | +0.08 |
| VGIT Vanguard Intermediate-Term T | Add +12.5% | 0.89% | +0.07 |
| DHR Danaher Corp. | New | 0.06% | +0.06 |
| AMZN Amazon.com Inc. | Add +0.6% | 2.26% | +0.06 |
| BNY Bank of New York Mellon Corp. | Add +24.9% | 0.26% | +0.06 |
| IBIT iShares Bitcoin Trust ETF | New | 0.06% | +0.06 |
| C Citigroup Inc. | New | 0.05% | +0.05 |
| SCHR Schwab Intermediate-Term US | New | 0.05% | +0.05 |
| ZM Zoom Communications Inc. | Add +10.2% | 0.46% | +0.05 |
| ROK Rockwell Automation Inc. | New | 0.05% | +0.05 |
| WMT Walmart Inc. | Add +0.4% | 0.90% | +0.05 |
| SONY Sony Group Corp. - SP ADR | New | 0.05% | +0.05 |
| MDT Medtronic PLC | New | 0.05% | +0.05 |
| DFEM Dimensional Emrg MRKT Core | Add +52.7% | 0.13% | +0.05 |
| USB US Bancorp | New | 0.04% | +0.04 |
| AMP Ameriprise Financial Inc. | New | 0.04% | +0.04 |
| GD General Dynamics Corp. | New | 0.04% | +0.04 |
| WFC Wells Fargo & Co. | Add +12.0% | 0.25% | +0.04 |
| A Agilent Technologies Inc. | New | 0.04% | +0.04 |
| MCK McKesson Corp. | New | 0.04% | +0.04 |
| COF Capital One Financial Corp. | Add +61.6% | 0.09% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +15.1% | 0.33% | +0.04 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +47.9% | 0.13% | +0.04 |
| BSVO EA Bridgeway Omni Sm-Cp Val | Add +5.1% | 0.87% | +0.04 |
| ISRG Intuitive Surgical Inc. | Add +1.6% | 0.20% | +0.04 |
| BKNG Booking Holdings Inc. | Add +16.5% | 0.35% | +0.04 |
| GE General Electric | Add +11.4% | 0.38% | +0.04 |
| XOM Exxon Mobil Corp. | Add +1.7% | 0.63% | +0.03 |
| MRK Merck & Co. Inc. | Add +14.1% | 0.10% | +0.03 |
| GEV GE Vernova Inc. | Add +11.4% | 0.21% | +0.03 |
| AMAT Applied Materials Inc. | Add +0.1% | 0.15% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.7% | 2.34% | +0.03 |
| ORLY O'reilly Automotive Inc. | Add +41.9% | 0.17% | +0.02 |
| BDTX Black Diamond Therapeutics I | New | 0.02% | +0.02 |
| CSCO Cisco Systems Inc. | Add +3.9% | 0.15% | +0.02 |
| LOW Lowe's Cos Inc. | Add +31.5% | 0.08% | +0.01 |
| IBM Intl Business Machines Corp. | Add +19.2% | 0.08% | +0.01 |
| CBOE Cboe Global Markets Inc. | Add +6.4% | 0.26% | +0.01 |
Options Activity Q3 2025 → Q4 2025
| AAPL Apple Inc. | put | New | 30,000 | $8.2M |
| APPLE INC | put | Sold out | 20,000 | $5.1Mbefore exit |
| QBTS D-Wave Quantum Inc. | put | New | 80,000 | $2.1M |
| SGMT Sagimet Biosciences Inc. Class A | put | New | 80,000 | $474K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +1.0% | 6,955 | $8.7M |
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 |