Sage Advisors, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), Sage Advisors, LLC reported 39 stock positions worth $139.6 million. Its top holding was Blue Owl Capital (OBDC) at 20.2% of the portfolio, followed by Ares Capital (ARCC, 15.1%) and Broadstone Net Lease (BNL, 11.4%). Compared with Q2 2025, it opened 6 new positions, sold out of 3, added to 17 and reduced 15. The biggest buy was a new position in Annaly Capital Management (NLY) and the biggest sale Enterprise Products Partners (EPD, shares −88%).
- Most Recent 13F
- Q4 2025
- Location
- BOULDER, CO
- CIK
- 0002032121
- Portfolio Value
- $139.6M (Q3 2025)
- SEC Filing
- 0002085853-25-000130 ↗ filed Oct 22, 2025
Holdings Value
Holdings 39 stocks · $139.6M
| OBDC Blue Owl Capital Corp. | 20.16% | 2,203,744 | $28.1M | Reduce -0.7% |
| ARCC Ares Capital Corp. | 15.12% | 1,033,978 | $21.1M | Reduce -2.0% |
| BNL Broadstone Net Lease Inc. | 11.38% | 888,730 | $15.9M | Reduce -1.0% |
| LLY Eli Lilly & Co. | 10.62% | 19,430 | $14.8M | Add +2.4% |
| AAPL Apple Inc. | 4.88% | 26,758 | $6.8M | Add +0.2% |
| AMZN Amazon.com Inc. | 4.12% | 26,213 | $5.8M | Reduce -2.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.67% | 10,175 | $5.1M | Reduce -1.7% |
| MO Altria Group Inc. | 3.10% | 65,567 | $4.3M | Add +8.1% |
| OKE Oneok Inc. | 2.87% | 54,873 | $4.0M | Add +3.3% |
| NLY Annaly Capital Management Inc. | 2.83% | 195,546 | $4.0M | New |
| NVDA Nvidia Corp. | 2.66% | 19,888 | $3.7M | Add +4.1% |
| FSK FS KKR Capital Corp. | 2.51% | 234,838 | $3.5M | Reduce -4.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.72% | 3,609 | $2.4M | Add +19.4% |
| QQQ Invesco QQQ Trust Series 1 | 1.53% | 3,559 | $2.1M | Add +43.2% |
| META Meta Platforms Inc. Class A | 1.41% | 2,677 | $2.0M | Add +11.9% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 1.40% | 4,199 | $1.9M | Add +32.4% |
| MSFT Microsoft Corp. | 1.39% | 3,755 | $1.9M | Reduce -2.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.07% | 5,287 | $1.5M | Add +11.1% |
| COST Costco Wholesale Corp. | 0.95% | 1,437 | $1.3M | Reduce -0.5% |
| HTGC Hercules Capital Inc. | 0.79% | 58,030 | $1.1M | New |
| HPQ HP Inc. | 0.57% | 29,267 | $797K | Add +1.1% |
| EPD Enterprise Products Partners | 0.53% | 23,466 | $734K | Reduce -87.7% |
| HPE Hewlett Packard Enterprise | 0.50% | 28,193 | $692K | Add +0.6% |
| AVGO Broadcom Inc. | 0.42% | 1,792 | $591K | Reduce -12.8% |
| GOOGL Alphabet Inc. Class A | 0.42% | 2,394 | $582K | Add +57.8% |
| BLK BlackRock Inc. | 0.37% | 449 | $523K | Add +0.5% |
| ARES Ares Management Corp. Class A | 0.37% | 3,195 | $511K | Reduce -17.0% |
| JPM JPMorgan Chase & Co. | 0.33% | 1,453 | $458K | Add +102.1% |
| TSLA Tesla Inc. | 0.33% | 1,023 | $455K | Add +14.3% |
| COIN Coinbase Global Inc. Class A | 0.30% | 1,232 | $416K | Reduce -8.2% |
| OWL Blue Owl Capital Inc. | 0.29% | 24,044 | $407K | Reduce -4.8% |
| ASTS Ast Spacemobile Inc. | 0.26% | 7,525 | $369K | Add +1.2% |
| OHI Omega Healthcare Investors | 0.26% | 8,744 | $369K | New |
| GLXY Galaxy Digital Inc. Class A | 0.26% | 10,561 | $357K | Reduce -9.5% |
| NEE Nextera Energy Inc. | 0.18% | 3,336 | $252K | No change |
| CRM Salesforce Inc. | 0.18% | 1,051 | $249K | Reduce -8.3% |
| ORCL Oracle Corp. | 0.17% | 868 | $244K | New |
| KAZR Skyline Builders Group Hol-A | 0.04% | 14,462 | $49K | New |
| LAES Sealsq Corp. | 0.03% | 11,439 | $43K | New |
Portfolio Sells Q2 2025 → Q3 2025
| EPD Enterprise Products Partners | Reduce -87.7% | 0.53% | −3.69 |
| OBDC Blue Owl Capital Corp. | Reduce -0.7% | 20.16% | −2.55 |
| ARCC Ares Capital Corp. | Reduce -2.0% | 15.12% | −1.42 |
| FSK FS KKR Capital Corp. | Reduce -4.0% | 2.51% | −1.11 |
| WM Waste Management Inc. | Sold out | 0.00% | −0.16 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.15 |
| ARES ACQUISITION CORP II | Sold out | 0.00% | −0.13 |
| ARES Ares Management Corp. Class A | Reduce -17.0% | 0.37% | −0.11 |
| AMZN Amazon.com Inc. | Reduce -2.3% | 4.12% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -0.5% | 0.95% | −0.07 |
| OWL Blue Owl Capital Inc. | Reduce -4.8% | 0.29% | −0.05 |
| CRM Salesforce Inc. | Reduce -8.3% | 0.18% | −0.04 |
| COIN Coinbase Global Inc. Class A | Reduce -8.2% | 0.30% | −0.04 |
| AVGO Broadcom Inc. | Reduce -12.8% | 0.42% | +0.02 |
| MSFT Microsoft Corp. | Reduce -2.5% | 1.39% | +0.03 |
| GLXY Galaxy Digital Inc. Class A | Reduce -9.5% | 0.26% | +0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.7% | 3.67% | +0.07 |
| BNL Broadstone Net Lease Inc. | Reduce -1.0% | 11.38% | +1.09 |
Portfolio Buys Q2 2025 → Q3 2025
| NLY Annaly Capital Management Inc. | New | 2.83% | +2.83 |
| AAPL Apple Inc. | Add +0.2% | 4.88% | +0.97 |
| HTGC Hercules Capital Inc. | New | 0.79% | +0.79 |
| MO Altria Group Inc. | Add +8.1% | 3.10% | +0.56 |
| QQQ Invesco QQQ Trust Series 1 | Add +43.2% | 1.53% | +0.55 |
| NVDA Nvidia Corp. | Add +4.1% | 2.66% | +0.50 |
| DIA SS SPDR Dow Jones Indus Avg | Add +32.4% | 1.40% | +0.40 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +19.4% | 1.72% | +0.39 |
| OHI Omega Healthcare Investors | New | 0.26% | +0.26 |
| GOOGL Alphabet Inc. Class A | Add +57.8% | 0.42% | +0.23 |
| JPM JPMorgan Chase & Co. | Add +102.1% | 0.33% | +0.18 |
| ORCL Oracle Corp. | New | 0.17% | +0.17 |
| META Meta Platforms Inc. Class A | Add +11.9% | 1.41% | +0.15 |
| TSLA Tesla Inc. | Add +14.3% | 0.33% | +0.12 |
| HPE Hewlett Packard Enterprise | Add +0.6% | 0.50% | +0.09 |
| IBM Intl Business Machines Corp. | Add +11.1% | 1.07% | +0.07 |
| HPQ HP Inc. | Add +1.1% | 0.57% | +0.07 |
| LLY Eli Lilly & Co. | Add +2.4% | 10.62% | +0.06 |
| BLK BlackRock Inc. | Add +0.5% | 0.37% | +0.04 |
| KAZR Skyline Builders Group Hol-A | New | 0.04% | +0.04 |
| LAES Sealsq Corp. | New | 0.03% | +0.03 |
| ASTS Ast Spacemobile Inc. | Add +1.2% | 0.26% | +0.02 |
| OKE Oneok Inc. | Add +3.3% | 2.87% | −0.23 |
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 |