Sage Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 13, 2026), Sage Advisors, LLC reported 48 stock positions worth $150.8 million. Its top holding was Blue Owl Capital (OBDC) at 17.0% of the portfolio, followed by Eli Lilly (LLY, 13.8%) and Ares Capital (ARCC, 12.8%). Compared with Q3 2025, it opened 15 new positions, sold out of 6, added to 21 and reduced 12. The biggest buy was a new position in Enbridge (ENB) and the biggest sale Blue Owl Capital (OBDC, shares −6%).
- Most Recent 13F
- Q4 2025
- Location
- BOULDER, CO
- CIK
- 0002032121
- Portfolio Value
- $150.8M (Q4 2025)
- SEC Filing
- 0002085853-26-000031 ↗ filed Jan 13, 2026
Holdings Value
Holdings 48 stocks · $150.8M
| OBDC Blue Owl Capital Corp. | 16.99% | 2,061,949 | $25.6M | Reduce -6.4% |
| LLY Eli Lilly & Co. | 13.82% | 19,397 | $20.8M | Reduce -0.2% |
| ARCC Ares Capital Corp. | 12.82% | 955,548 | $19.3M | Reduce -7.6% |
| BNL Broadstone Net Lease Inc. | 9.93% | 862,316 | $15.0M | Reduce -3.0% |
| NLY Annaly Capital Management Inc. | 4.75% | 320,533 | $7.2M | Add +63.9% |
| AAPL Apple Inc. | 4.74% | 26,291 | $7.1M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 4.43% | 28,943 | $6.7M | Add +10.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.25% | 9,763 | $4.9M | Reduce -4.0% |
| MO Altria Group Inc. | 2.82% | 73,670 | $4.2M | Add +12.4% |
| NVDA Nvidia Corp. | 2.53% | 20,486 | $3.8M | Add +3.0% |
| ENB Enbridge Inc. | 2.47% | 77,851 | $3.7M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.73% | 3,835 | $2.6M | Add +6.3% |
| QQQ Invesco QQQ Trust Series 1 | 1.62% | 3,982 | $2.4M | Add +11.9% |
| HTGC Hercules Capital Inc. | 1.50% | 119,974 | $2.3M | Add +106.7% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 1.48% | 4,631 | $2.2M | Add +10.3% |
| META Meta Platforms Inc. Class A | 1.31% | 3,001 | $2.0M | Add +12.1% |
| MSFT Microsoft Corp. | 1.22% | 3,808 | $1.8M | Add +1.4% |
| FSK FS KKR Capital Corp. | 1.18% | 119,967 | $1.8M | Reduce -48.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.04% | 5,313 | $1.6M | Add +0.5% |
| PWR Quanta Services Inc. | 0.83% | 2,974 | $1.3M | New |
| JPM JPMorgan Chase & Co. | 0.68% | 3,161 | $1.0M | Add +117.5% |
| GOOGL Alphabet Inc. Class A | 0.59% | 2,840 | $889K | Add +18.6% |
| SGOV iShares 0-3 Month Treasury B | 0.52% | 7,751 | $778K | New |
| IEF iShares 7-10 Year Treasury B | 0.51% | 8,008 | $770K | New |
| ASTS Ast Spacemobile Inc. | 0.46% | 9,603 | $697K | Add +27.6% |
| HPE Hewlett Packard Enterprise | 0.45% | 28,355 | $681K | Add +0.6% |
| TSLA Tesla Inc. | 0.41% | 1,384 | $622K | Add +35.3% |
| AVGO Broadcom Inc. | 0.41% | 1,789 | $619K | Reduce -0.2% |
| TLT iShares 20+ Year Treasury BD | 0.41% | 7,061 | $615K | New |
| OHI Omega Healthcare Investors | 0.39% | 13,257 | $588K | Add +51.6% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.38% | 10,953 | $579K | New |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.38% | 10,716 | $577K | New |
| IGLB iShares 10+ Year Inv GR Corp. | 0.38% | 11,267 | $568K | New |
| HPQ HP Inc. | 0.38% | 25,450 | $567K | Reduce -13.0% |
| EPD Enterprise Products Partners | 0.37% | 17,583 | $564K | Reduce -25.1% |
| ARES Ares Management Corp. Class A | 0.36% | 3,360 | $543K | Add +5.2% |
| RKT Rocket Cos Inc. Class A | 0.35% | 27,240 | $527K | New |
| BLK BlackRock Inc. | 0.32% | 446 | $477K | Reduce -0.7% |
| OWL Blue Owl Capital Inc. | 0.27% | 27,641 | $413K | Add +15.0% |
| GLXY Galaxy Digital Inc. Class A | 0.26% | 17,863 | $399K | Add +69.1% |
| CAT Caterpillar Inc. | 0.22% | 584 | $334K | New |
| COST Costco Wholesale Corp. | 0.21% | 369 | $318K | Reduce -74.3% |
| NEE Nextera Energy Inc. | 0.21% | 3,958 | $318K | Add +18.6% |
| MRLN Merlin Inc. filed as INFLECTION POINT ACQUISITION | 0.16% | 23,135 | $248K | New |
| GLD SPDR Gold Shares | 0.15% | 553 | $219K | New |
| MCK McKesson Corp. | 0.14% | 266 | $218K | New |
| VELO VELO3D Inc. | 0.10% | 11,251 | $155K | New |
| RDW Redwire Corp. | 0.05% | 10,363 | $79K | New |
Portfolio Sells Q3 2025 → Q4 2025
| OBDC Blue Owl Capital Corp. | Reduce -6.4% | 16.99% | −3.17 |
| OKE Oneok Inc. | Sold out | 0.00% | −2.87 |
| ARCC Ares Capital Corp. | Reduce -7.6% | 12.82% | −2.31 |
| BNL Broadstone Net Lease Inc. | Reduce -3.0% | 9.93% | −1.45 |
| FSK FS KKR Capital Corp. | Reduce -48.9% | 1.18% | −1.33 |
| COST Costco Wholesale Corp. | Reduce -74.3% | 0.21% | −0.74 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.0% | 3.25% | −0.41 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.30 |
| HPQ HP Inc. | Reduce -13.0% | 0.38% | −0.20 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.18 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.17 |
| EPD Enterprise Products Partners | Reduce -25.1% | 0.37% | −0.15 |
| AAPL Apple Inc. | Reduce -1.8% | 4.74% | −0.14 |
| BLK BlackRock Inc. | Reduce -0.7% | 0.32% | −0.06 |
| KAZR Skyline Builders Group Hol-A | Sold out | 0.00% | −0.04 |
| LAES Sealsq Corp. | Sold out | 0.00% | −0.03 |
| AVGO Broadcom Inc. | Reduce -0.2% | 0.41% | −0.01 |
| LLY Eli Lilly & Co. | Reduce -0.2% | 13.82% | +3.20 |
Portfolio Buys Q3 2025 → Q4 2025
| ENB Enbridge Inc. | New | 2.47% | +2.47 |
| NLY Annaly Capital Management Inc. | Add +63.9% | 4.75% | +1.92 |
| PWR Quanta Services Inc. | New | 0.83% | +0.83 |
| HTGC Hercules Capital Inc. | Add +106.7% | 1.50% | +0.71 |
| SGOV iShares 0-3 Month Treasury B | New | 0.52% | +0.52 |
| IEF iShares 7-10 Year Treasury B | New | 0.51% | +0.51 |
| TLT iShares 20+ Year Treasury BD | New | 0.41% | +0.41 |
| IGSB iShares 1-5Y Inv Grade Corp. | New | 0.38% | +0.38 |
| IGIB iShares 5-10Y Inv Grade Corp. | New | 0.38% | +0.38 |
| IGLB iShares 10+ Year Inv GR Corp. | New | 0.38% | +0.38 |
| RKT Rocket Cos Inc. Class A | New | 0.35% | +0.35 |
| JPM JPMorgan Chase & Co. | Add +117.5% | 0.68% | +0.35 |
| AMZN Amazon.com Inc. | Add +10.4% | 4.43% | +0.30 |
| CAT Caterpillar Inc. | New | 0.22% | +0.22 |
| ASTS Ast Spacemobile Inc. | Add +27.6% | 0.46% | +0.20 |
| GOOGL Alphabet Inc. Class A | Add +18.6% | 0.59% | +0.17 |
| MRLN Merlin Inc. | New | 0.16% | +0.16 |
| GLD SPDR Gold Shares | New | 0.15% | +0.15 |
| MCK McKesson Corp. | New | 0.14% | +0.14 |
| OHI Omega Healthcare Investors | Add +51.6% | 0.39% | +0.13 |
| VELO VELO3D Inc. | New | 0.10% | +0.10 |
| QQQ Invesco QQQ Trust Series 1 | Add +11.9% | 1.62% | +0.09 |
| TSLA Tesla Inc. | Add +35.3% | 0.41% | +0.09 |
| DIA SS SPDR Dow Jones Indus Avg | Add +10.3% | 1.48% | +0.08 |
| RDW Redwire Corp. | New | 0.05% | +0.05 |
| NEE Nextera Energy Inc. | Add +18.6% | 0.21% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +6.3% | 1.73% | +0.01 |
| GLXY Galaxy Digital Inc. Class A | Add +69.1% | 0.26% | +0.01 |
| ARES Ares Management Corp. Class A | Add +5.2% | 0.36% | −0.01 |
| OWL Blue Owl Capital Inc. | Add +15.0% | 0.27% | −0.02 |
| IBM Intl Business Machines Corp. | Add +0.5% | 1.04% | −0.03 |
| HPE Hewlett Packard Enterprise | Add +0.6% | 0.45% | −0.04 |
| META Meta Platforms Inc. Class A | Add +12.1% | 1.31% | −0.10 |
| NVDA Nvidia Corp. | Add +3.0% | 2.53% | −0.13 |
| MSFT Microsoft Corp. | Add +1.4% | 1.22% | −0.17 |
| MO Altria Group Inc. | Add +12.4% | 2.82% | −0.29 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 48 | $150.8M | OBDC, LLY, ARCC, BNL, NLY |
| Q3 2025 | 39 | $139.6M | OBDC, ARCC, BNL, LLY, AAPL |
| Q2 2025 | 36 | $140.1M | OBDC, ARCC, LLY, BNL, EPD |
| Q1 2025 | 32 | $142.1M | OBDC, ARCC, BNL, LLY, AAPL |
| Q4 2024 | 28 | $133.9M | OBDC, ARCC, BNL, LLY, AAPL |
| Q3 2024 | 25 | $127.0M | OBDC, ARCC, BNL, LLY, AAPL |
| Q2 2024 | 25 | $123.0M | OBDC, ARCC, LLY, BNL, AAPL |
| Q1 2024 | 25 | $112.4M | OBDC, ARCC, LLY, BNL, AAPL |