Sage Mountain Advisors LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), Sage Mountain Advisors LLC reported 547 stock positions worth $1.7 billion. Its top holding was Janus Henderson Aaa Clo ETF (JAAA) at 10.9% of the portfolio, followed by JPMorgan US Quality Factor (JQUA, 10.4%) and VG Morningstar TS MKT ETF-US (VTI, 7.8%). Compared with Q2 2025, it opened 81 new positions, sold out of 28, added to 239 and reduced 107. The biggest buy was Vanguard Intermediate-Term T (VGIT, shares +53%) and the biggest sale Janus Henderson Aaa Clo ETF (JAAA, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- ATLANTA, GA
- CIK
- 0001832274
- Portfolio Value
- $1.7B (Q3 2025)
- SEC Filing
- 0001398344-25-019993 ↗ filed Oct 29, 2025
Holdings Value
Holdings 547 stocks · $1.7B
| JAAA Janus Henderson Aaa Clo ETF | 10.88% | 3,739,330 | $189.9M | Reduce -4.7% |
| JQUA JPMorgan US Quality Factor | 10.42% | 2,889,443 | $181.8M | Add +6.5% |
| VTI VG Morningstar TS MKT ETF-US | 7.79% | 414,298 | $136.0M | Add +3.5% |
| QUAL iShares MSCI USA Quality Fac | 6.49% | 582,574 | $113.3M | Add +1.1% |
| IQLT iShares MSCI International Q | 3.71% | 1,463,937 | $64.7M | Add +6.3% |
| VOO Vanguard S&P 500 ETF | 2.87% | 81,810 | $50.1M | Reduce -1.4% |
| GBDC Golub Capital BDC Inc. | 2.38% | 3,028,489 | $41.5M | Reduce -0.2% |
| AAPL Apple Inc. | 2.23% | 153,043 | $39.0M | Add +11.6% |
| MSFT Microsoft Corp. | 2.10% | 70,864 | $36.7M | Add +12.9% |
| NVDA Nvidia Corp. | 2.06% | 192,725 | $36.0M | Add +14.6% |
| VGIT Vanguard Intermediate-Term T | 1.97% | 571,403 | $34.3M | Add +53.0% |
| VEA Vanguard Ftse Developed ETF | 1.68% | 489,825 | $29.4M | Add +5.2% |
| QUS SS SPDR MSCI U Stratfact ETF | 1.67% | 170,600 | $29.2M | Reduce -8.8% |
| AVGO Broadcom Inc. | 1.49% | 78,758 | $26.0M | Reduce -2.4% |
| JMBS Janus Henderson Mortg Backed | 1.17% | 446,617 | $20.4M | Add +14.2% |
| TSLA Tesla Inc. | 1.10% | 43,269 | $19.2M | Add +17.9% |
| AMZN Amazon.com Inc. | 1.08% | 86,170 | $18.9M | Add +19.7% |
| JPM JPMorgan Chase & Co. | 0.96% | 53,380 | $16.8M | Add +4.9% |
| META Meta Platforms Inc. Class A | 0.92% | 21,878 | $16.1M | Add +14.8% |
| VXUS Vanguard Total Intl Stock | 0.91% | 217,158 | $16.0M | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 0.84% | 60,511 | $14.7M | Add +23.0% |
| VGT Vanguard Info Tech ETF | 0.82% | 19,227 | $14.4M | No change |
| KBDC Kayne Anderson BDC Inc. | 0.81% | 1,058,487 | $14.1M | Add +13.8% |
| CPRT Copart Inc. | 0.73% | 284,660 | $12.8M | Reduce -0.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.70% | 25,447 | $12.2M | Add +76.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.66% | 17,280 | $11.5M | Add +0.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.66% | 45,269 | $11.5M | Reduce -0.2% |
| SPHQ Invesco S&P 500 Quality ETF | 0.64% | 152,762 | $11.2M | Add +0.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.60% | 42,327 | $10.5M | Reduce -3.2% |
| GOOG Alphabet Inc. Class C | 0.59% | 42,188 | $10.3M | Add +10.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.56% | 19,327 | $9.7M | Add +10.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.54% | 181,133 | $9.3M | Reduce -1.7% |
| ITOT iShares Core S&P Total U.S. | 0.47% | 56,367 | $8.2M | Add +12.4% |
| IVV iShares Core S&P 500 ETF | 0.46% | 12,001 | $8.0M | Add +29.9% |
| VGSH Vanguard Short-Term Treasury | 0.45% | 134,448 | $7.9M | Reduce -14.9% |
| OMFL Invesco Russell 1000 DYN M/F | 0.42% | 122,192 | $7.4M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.41% | 11,943 | $7.2M | No change |
| SCHX Schwab US Large-Cap ETF | 0.38% | 249,841 | $6.6M | No change |
| IWB iShares Russell 1000 ETF | 0.37% | 17,807 | $6.5M | Reduce -0.1% |
| XLG Invesco S&P 500 Top 50 ETF | 0.35% | 107,683 | $6.2M | Add +1.9% |
| V Visa Inc. Class A | 0.34% | 17,606 | $6.0M | Add +20.2% |
| IWF iShares Russell 1000 Growth | 0.34% | 12,568 | $5.9M | Reduce -0.7% |
| FTNT Fortinet Inc. | 0.33% | 68,625 | $5.8M | Reduce -0.1% |
| UYLD Angel Oak Ultrashort Income | 0.32% | 109,179 | $5.6M | Add +80.7% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.32% | 109,936 | $5.5M | Add +501.5% |
| XOM Exxon Mobil Corp. | 0.31% | 48,440 | $5.5M | Add +12.8% |
| LLY Eli Lilly & Co. | 0.31% | 7,074 | $5.4M | Add +23.4% |
| HD Home Depot Inc. | 0.28% | 12,252 | $5.0M | Add +24.1% |
| NFLX Netflix Inc. | 0.27% | 3,943 | $4.7M | Add +22.9% |
| ORCL Oracle Corp. | 0.27% | 16,620 | $4.7M | Add +15.3% |
| VONG Vanguard Russell 1000 Growth | 0.26% | 38,081 | $4.6M | Reduce -5.5% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.26% | 15,620 | $4.6M | No change |
| ETN Eaton Corp. PLC | 0.25% | 11,879 | $4.4M | Add +87.6% |
| QEFA STSR SPD MSC Eaf Stgfs-US Inc. | 0.25% | 50,112 | $4.4M | No change |
| WMT Walmart Inc. | 0.25% | 42,477 | $4.4M | Add +9.1% |
| IJR iShares Core S&P Small-Cap E | 0.25% | 36,748 | $4.4M | Reduce -0.0% |
| JNJ Johnson & Johnson | 0.23% | 22,014 | $4.1M | Add +19.3% |
| ABBV Abbvie Inc. | 0.23% | 17,549 | $4.1M | Add +20.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.22% | 5 | $3.8M | Reduce -16.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.21% | 20,040 | $3.7M | Add +0.6% |
| MA Mastercard Inc. Class A | 0.21% | 6,524 | $3.7M | Add +12.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.21% | 41,912 | $3.7M | Add +217.2% |
| VEU Vanguard Ftse All-World Ex-U | 0.21% | 51,117 | $3.6M | Add +0.0% |
| SGOV iShares 0-3 Month Treasury B | 0.21% | 35,540 | $3.6M | Add +1.4% |
| CSCO Cisco Systems Inc. | 0.20% | 50,529 | $3.5M | Add +18.4% |
| VONV Vanguard Russell 1000 Value | 0.20% | 38,463 | $3.4M | Add +50.7% |
| PNFP Pinnacle Financial Partners | 0.19% | 36,223 | $3.4M | No change |
| LGLV SPDR US LC Low Vol Idx | 0.19% | 18,958 | $3.4M | No change |
| SMH Vaneck Semiconductor ETF | 0.19% | 10,136 | $3.3M | No change |
| COST Costco Wholesale Corp. | 0.18% | 3,435 | $3.2M | Add +8.0% |
| PG The Procter & Gamble Co. | 0.17% | 19,829 | $3.0M | Add +5.6% |
| PLTR Palantir Technologies Inc. Class A | 0.17% | 15,803 | $2.9M | Add +22.0% |
| UNH Unitedhealth Group Inc. | 0.16% | 8,281 | $2.9M | Add +32.2% |
| SCHG Schwab US Large-Cap Growth | 0.16% | 86,044 | $2.7M | No change |
| CVX Chevron Corp. | 0.15% | 16,731 | $2.6M | Add +43.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.15% | 9,213 | $2.6M | Add +37.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 8,823 | $2.5M | Add +15.5% |
| DFAC Dimensional US Core Equity 2 | 0.14% | 64,523 | $2.5M | No change |
| ABT Abbott Laboratories | 0.14% | 18,142 | $2.4M | Add +11.1% |
| MRK Merck & Co. Inc. | 0.14% | 28,640 | $2.4M | Add +10.8% |
| IAU iShares Gold Trust | 0.14% | 33,017 | $2.4M | Add +1.0% |
| CIBR First Trust Nasdaq Cybersecu | 0.14% | 31,512 | $2.4M | No change |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.13% | 25,030 | $2.3M | Reduce -45.1% |
| GE General Electric filed as GE AEROSPACE | 0.13% | 7,580 | $2.3M | Add +17.9% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.13% | 10,797 | $2.3M | Reduce -2.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.13% | 7,113 | $2.2M | Add +206.3% |
| IBIT iShares Bitcoin Trust ETF | 0.12% | 33,510 | $2.2M | Add +153.1% |
| LIEN Chicago Atlantic BDC Inc. | 0.12% | 206,367 | $2.2M | Add +1913.1% |
| REFI Chicago Atlantic Real Estate | 0.12% | 163,808 | $2.1M | No change |
| AXP American Express Co. | 0.12% | 6,269 | $2.1M | Add +24.2% |
| KO The Coca-Cola Co. | 0.12% | 31,329 | $2.1M | Add +18.3% |
| WFC Wells Fargo & Co. | 0.12% | 24,725 | $2.1M | Add +20.9% |
| BLK BlackRock Inc. | 0.12% | 1,771 | $2.1M | Add +25.8% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.12% | 47,171 | $2.0M | Reduce -3.7% |
| EFA iShares MSCI Eafe ETF | 0.12% | 21,487 | $2.0M | Reduce -42.2% |
| PM Philip Morris International | 0.11% | 12,322 | $2.0M | Add +31.5% |
| LIN Linde PLC | 0.11% | 4,093 | $1.9M | Add +28.8% |
| VBIL Vanguard 0-3M T-Bill ETF | 0.11% | 25,600 | $1.9M | New |
| RTX RTX Corp. | 0.11% | 11,486 | $1.9M | Add +19.5% |
| T AT&T Inc. | 0.11% | 67,571 | $1.9M | Add +29.3% |
Portfolio Sells Q2 2025 → Q3 2025
| JAAA Janus Henderson Aaa Clo ETF | Reduce -4.7% | 10.88% | −2.08 |
| GBDC Golub Capital BDC Inc. | Reduce -0.2% | 2.38% | −0.52 |
| QUS SS SPDR MSCI U Stratfact ETF | Reduce -8.8% | 1.67% | −0.31 |
| VOO Vanguard S&P 500 ETF | Reduce -1.4% | 2.87% | −0.20 |
| CPRT Copart Inc. | Reduce -0.1% | 0.73% | −0.18 |
| VGSH Vanguard Short-Term Treasury | Reduce -14.9% | 0.45% | −0.15 |
| FTNT Fortinet Inc. | Reduce -0.1% | 0.33% | −0.14 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -45.1% | 0.13% | −0.14 |
| EFA iShares MSCI Eafe ETF | Reduce -42.2% | 0.12% | −0.10 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -16.7% | 0.22% | −0.07 |
| HYD Vaneck High Yield Muni ETF | Reduce -52.0% | 0.05% | −0.06 |
| UPS United Parcel Service Class B | Reduce -30.5% | 0.05% | −0.05 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -3.2% | 0.60% | −0.05 |
| EMR Emerson Electric Co. | Sold out | 0.00% | −0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.2% | 0.66% | −0.04 |
| BAC Bank of America Corp. | Reduce -1.7% | 0.54% | −0.03 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -92.5% | 0.00% | −0.03 |
| KMB Kimberly-Clark Corp. | Reduce -62.0% | 0.01% | −0.03 |
| ACN Accenture PLC Class A | Reduce -2.2% | 0.07% | −0.03 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.02 |
| AIG American International Group | Reduce -28.0% | 0.03% | −0.02 |
| VONG Vanguard Russell 1000 Growth | Reduce -5.5% | 0.26% | −0.02 |
| NI Nisource Inc. | Sold out | 0.00% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -1.3% | 0.08% | −0.02 |
| AGG iShares Core U.S. Aggregate | Reduce -16.1% | 0.06% | −0.02 |
| IWB iShares Russell 1000 ETF | Reduce -0.1% | 0.37% | −0.02 |
| CTAS Cintas Corp. | Sold out | 0.00% | −0.02 |
| PEG Public Service Enterprise GP | Sold out | 0.00% | −0.02 |
| PAYX Paychex Inc. | Reduce -23.2% | 0.03% | −0.02 |
| AXON Axon Enterprise Inc. | Sold out | 0.00% | −0.02 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.02 |
| CCI Crown Castle Inc. | Reduce -35.4% | 0.02% | −0.02 |
| AVAV Aerovironment Inc. | Sold out | 0.00% | −0.02 |
| D Dominion Energy Inc. | Sold out | 0.00% | −0.02 |
| TDG Transdigm Group Inc. | Reduce -30.2% | 0.02% | −0.02 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.02 |
| BALL Ball Corp. | Sold out | 0.00% | −0.02 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.02 |
| TRV The Travelers Cos Inc. | Sold out | 0.00% | −0.02 |
| MRSH Marsh & McLennan Cos | Reduce -13.2% | 0.04% | −0.02 |
| MCO Moody's Corp. | Sold out | 0.00% | −0.02 |
| BMY Bristol-Myers Squibb Co. | Reduce -36.1% | 0.02% | −0.02 |
| TPL Texas Pacific Land Corp. | Reduce -24.3% | 0.02% | −0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -19.1% | 0.03% | −0.02 |
| ED Consolidated Edison Inc. | Reduce -34.0% | 0.02% | −0.02 |
| CARY Angel Oak Income ETF | Reduce -15.2% | 0.05% | −0.02 |
| LKQ LKQ Corp. | Sold out | 0.00% | −0.02 |
| AVY Avery Dennison Corp. | Sold out | 0.00% | −0.02 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.02 |
| ABNB Airbnb Inc. Class A | Reduce -7.3% | 0.05% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| VGIT Vanguard Intermediate-Term T | Add +53.0% | 1.97% | +0.51 |
| OMFL Invesco Russell 1000 DYN M/F | New | 0.42% | +0.42 |
| AAPL Apple Inc. | Add +11.6% | 2.23% | +0.40 |
| TSLA Tesla Inc. | Add +17.9% | 1.10% | +0.34 |
| NVDA Nvidia Corp. | Add +14.6% | 2.06% | +0.33 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +76.2% | 0.70% | +0.29 |
| GOOGL Alphabet Inc. Class A | Add +23.0% | 0.84% | +0.28 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +501.5% | 0.32% | +0.26 |
| GOOG Alphabet Inc. Class C | Add +10.3% | 0.59% | +0.15 |
| IEFA iShares Core MSCI Eafe ETF | Add +217.2% | 0.21% | +0.14 |
| UYLD Angel Oak Ultrashort Income | Add +80.7% | 0.32% | +0.12 |
| LIEN Chicago Atlantic BDC Inc. | Add +1913.1% | 0.12% | +0.12 |
| VBIL Vanguard 0-3M T-Bill ETF | New | 0.11% | +0.11 |
| ETN Eaton Corp. PLC | Add +87.6% | 0.25% | +0.11 |
| ESGU iShares ESG Aware MSCI USA | New | 0.10% | +0.10 |
| AGNC AGNC Investment Corp. | New | 0.09% | +0.09 |
| IVV iShares Core S&P 500 ETF | Add +29.9% | 0.46% | +0.09 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +206.3% | 0.13% | +0.08 |
| IBIT iShares Bitcoin Trust ETF | Add +153.1% | 0.12% | +0.07 |
| MSFT Microsoft Corp. | Add +12.9% | 2.10% | +0.07 |
| LRCX Lam Research Corp. | Add +144.3% | 0.10% | +0.07 |
| ORCL Oracle Corp. | Add +15.3% | 0.27% | +0.06 |
| IDEV iShares Core MSCI Dev MKTS | Add +224.5% | 0.09% | +0.06 |
| WEC WEC Energy Group Inc. | New | 0.06% | +0.06 |
| AMZN Amazon.com Inc. | Add +19.7% | 1.08% | +0.06 |
| ABBV Abbvie Inc. | Add +20.1% | 0.23% | +0.06 |
| VONV Vanguard Russell 1000 Value | Add +50.7% | 0.20% | +0.06 |
| JNJ Johnson & Johnson | Add +19.3% | 0.23% | +0.05 |
| PLTR Palantir Technologies Inc. Class A | Add +22.0% | 0.17% | +0.05 |
| BX Blackstone Inc. | Add +87.0% | 0.11% | +0.05 |
| HD Home Depot Inc. | Add +24.1% | 0.28% | +0.05 |
| TSM Taiwan Semiconductor-SP ADR | Add +37.6% | 0.15% | +0.05 |
| CVX Chevron Corp. | Add +43.5% | 0.15% | +0.04 |
| ETHA iShares Ethereum Trust ETF | New | 0.04% | +0.04 |
| BMNR Bitmine Immersion Technologi | New | 0.04% | +0.04 |
| NEE Nextera Energy Inc. | Add +61.2% | 0.11% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +32.2% | 0.16% | +0.04 |
| MPC Marathon Petroleum Corp. | Add +128.5% | 0.06% | +0.03 |
| TMO Thermo Fisher Scientific Inc. | Add +38.1% | 0.10% | +0.03 |
| C Citigroup Inc. | Add +36.1% | 0.10% | +0.03 |
| ITOT iShares Core S&P Total U.S. | Add +12.4% | 0.47% | +0.03 |
| REGN Regeneron Pharmaceuticals | New | 0.03% | +0.03 |
| BTC Grayscale Bitcoin Mini ETF | New | 0.03% | +0.03 |
| SNPS Synopsys Inc. | New | 0.03% | +0.03 |
| DHI D.R. Horton Inc. | New | 0.03% | +0.03 |
| AOS Smith (a.o.) Corp. | New | 0.03% | +0.03 |
| MUB iShares National Muni Bond E | New | 0.03% | +0.03 |
| WDC Western Digital Corp. | New | 0.03% | +0.03 |
| ANET Arista Networks Inc. | Add +31.2% | 0.07% | +0.03 |
| FSS Federal Signal Corp. | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 304 | $1.6B | JAAA, JQUA, VTI, QUAL, IQLT |
| Q1 2026 | 281 | $1.4B | JAAA, JQUA, VTI, QUAL, IQLT |
| Q4 2025 | 559 | $1.9B | JAAA, JQUA, VTI, QUAL, IQLT |
| Q3 2025 | 547 | $1.7B | JAAA, JQUA, VTI, QUAL, IQLT |
| Q2 2025 | 494 | $1.5B | JAAA, JQUA, VTI, QUAL, IQLT |
| Q1 2025 | 492 | $1.4B | JAAA, JQUA, VTI, QUAL, IQLT |
| Q4 2024 | 473 | $1.4B | JAAA, JQUA, VTI, QUAL, VOO |
| Q3 2024 | 485 | $1.2B | JAAA, QUAL, JQUA, VTI, VOO |
| Q2 2024 | 420 | $1.1B | JAAA, QUAL, JQUA, VTI, VOO |
| Q1 2024 | 407 | $962.2M | JAAA, QUAL, JQUA, VTI, VOO |