Sage Mountain Advisors LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Sage Mountain Advisors LLC reported 559 stock positions worth $1.9 billion. Its top holding was Janus Henderson Aaa Clo ETF (JAAA) at 13.5% of the portfolio, followed by JPMorgan US Quality Factor (JQUA, 9.8%) and VG Morningstar TS MKT ETF-US (VTI, 7.4%). Compared with Q3 2025, it opened 59 new positions, sold out of 47, added to 167 and reduced 202. The biggest buy was Janus Henderson Aaa Clo ETF (JAAA, shares +34%) and the biggest sale iShares MSCI USA Quality Fac (QUAL, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- ATLANTA, GA
- CIK
- 0001832274
- Portfolio Value
- $1.9B (Q4 2025)
- SEC Filing
- 0001398344-26-001120 ↗ filed Jan 23, 2026
Holdings Value
Holdings 559 stocks · $1.9B
| JAAA Janus Henderson Aaa Clo ETF | 13.46% | 5,018,296 | $253.8M | Add +34.2% |
| JQUA JPMorgan US Quality Factor | 9.85% | 2,939,552 | $185.7M | Add +1.7% |
| VTI VG Morningstar TS MKT ETF-US | 7.42% | 417,067 | $139.8M | Add +0.7% |
| QUAL iShares MSCI USA Quality Fac | 5.92% | 561,990 | $111.6M | Reduce -3.5% |
| IQLT iShares MSCI International Q | 3.62% | 1,502,162 | $68.3M | Add +2.6% |
| VOO Vanguard S&P 500 ETF | 2.75% | 82,836 | $51.9M | Add +1.3% |
| GBDC Golub Capital BDC Inc. | 2.42% | 3,360,932 | $45.6M | Add +11.0% |
| AAPL Apple Inc. | 2.16% | 149,994 | $40.8M | Reduce -2.0% |
| VGIT Vanguard Intermediate-Term T | 2.03% | 639,752 | $38.3M | Add +12.0% |
| NVDA Nvidia Corp. | 1.87% | 189,141 | $35.3M | Reduce -1.9% |
| MSFT Microsoft Corp. | 1.74% | 67,780 | $32.8M | Reduce -4.3% |
| VEA Vanguard Ftse Developed ETF | 1.70% | 512,030 | $32.0M | Add +4.5% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 1.59% | 590,000 | $30.1M | New |
| QUS SS SPDR MSCI U Stratfact ETF | 1.57% | 169,798 | $29.6M | Reduce -0.5% |
| AVGO Broadcom Inc. | 1.40% | 76,467 | $26.5M | Reduce -2.9% |
| JMBS Janus Henderson Mortg Backed | 1.13% | 467,887 | $21.4M | Add +4.8% |
| AMZN Amazon.com Inc. | 1.08% | 88,554 | $20.4M | Add +2.8% |
| TSLA Tesla Inc. | 1.01% | 42,295 | $19.0M | Reduce -2.3% |
| GOOGL Alphabet Inc. Class A | 0.95% | 57,101 | $17.9M | Reduce -5.6% |
| JPM JPMorgan Chase & Co. | 0.89% | 51,893 | $16.7M | Reduce -2.8% |
| VXUS Vanguard Total Intl Stock | 0.82% | 204,182 | $15.4M | Reduce -6.0% |
| VGT Vanguard Info Tech ETF | 0.77% | 19,227 | $14.5M | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.70% | 51,310 | $13.2M | Add +13.3% |
| META Meta Platforms Inc. Class A | 0.69% | 19,813 | $13.1M | Reduce -9.4% |
| GOOG Alphabet Inc. Class C | 0.68% | 41,142 | $12.9M | Reduce -2.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.68% | 18,847 | $12.9M | Add +9.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.66% | 25,554 | $12.5M | Add +0.4% |
| CHD Church & Dwight Co. Inc. | 0.64% | 143,337 | $12.0M | Add +1951.5% |
| KBDC Kayne Anderson BDC Inc. | 0.61% | 798,116 | $11.4M | Reduce -24.6% |
| SPHQ Invesco S&P 500 Quality ETF | 0.60% | 151,809 | $11.4M | Reduce -0.6% |
| CPRT Copart Inc. | 0.59% | 284,894 | $11.2M | Add +0.1% |
| QQQM Invesco Nasdaq 100 ETF | 0.57% | 42,171 | $10.7M | Reduce -0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.50% | 18,774 | $9.4M | Reduce -2.9% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.49% | 182,315 | $9.2M | Add +65.8% |
| ITOT iShares Core S&P Total U.S. | 0.45% | 57,671 | $8.6M | Add +2.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.45% | 155,475 | $8.6M | Reduce -14.2% |
| IVV iShares Core S&P 500 ETF | 0.44% | 11,989 | $8.2M | Reduce -0.1% |
| LLY Eli Lilly & Co. | 0.41% | 7,132 | $7.7M | Add +0.8% |
| OMFL Invesco Russell 1000 DYN M/F | 0.39% | 120,800 | $7.4M | Reduce -1.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.39% | 11,943 | $7.3M | No change |
| VGSH Vanguard Short-Term Treasury | 0.37% | 119,318 | $7.0M | Reduce -11.3% |
| SCHX Schwab US Large-Cap ETF | 0.36% | 249,841 | $6.7M | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.35% | 22,889 | $6.6M | Add +46.5% |
| IWB iShares Russell 1000 ETF | 0.35% | 17,767 | $6.6M | Reduce -0.2% |
| UYLD Angel Oak Ultrashort Income | 0.34% | 126,372 | $6.5M | Add +15.8% |
| XLG Invesco S&P 500 Top 50 ETF | 0.34% | 107,683 | $6.4M | No change |
| IWF iShares Russell 1000 Growth | 0.32% | 12,554 | $5.9M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 0.31% | 49,021 | $5.9M | Add +1.2% |
| V Visa Inc. Class A | 0.31% | 16,549 | $5.8M | Reduce -6.0% |
| FTNT Fortinet Inc. | 0.29% | 68,371 | $5.4M | Reduce -0.4% |
| VONG Vanguard Russell 1000 Growth | 0.25% | 38,098 | $4.6M | Add +0.0% |
| WMT Walmart Inc. | 0.24% | 41,336 | $4.6M | Reduce -2.7% |
| QEFA STSR SPD MSC Eaf Stgfs-US Inc. | 0.24% | 50,121 | $4.5M | Add +0.0% |
| JNJ Johnson & Johnson | 0.24% | 21,470 | $4.4M | Reduce -2.5% |
| IJR iShares Core S&P Small-Cap E | 0.21% | 33,524 | $4.0M | Reduce -8.8% |
| HD Home Depot Inc. | 0.21% | 11,241 | $3.9M | Reduce -8.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.20% | 20,014 | $3.8M | Reduce -0.1% |
| VEU Vanguard Ftse All-World Ex-U | 0.20% | 51,898 | $3.8M | Add +1.5% |
| IEFA iShares Core MSCI Eafe ETF | 0.20% | 42,065 | $3.8M | Add +0.4% |
| ABBV Abbvie Inc. | 0.20% | 16,457 | $3.8M | Reduce -6.2% |
| MA Mastercard Inc. Class A | 0.19% | 6,221 | $3.6M | Reduce -4.6% |
| VONV Vanguard Russell 1000 Value | 0.19% | 38,463 | $3.6M | No change |
| SMH Vaneck Semiconductor ETF | 0.19% | 9,739 | $3.5M | Reduce -3.9% |
| PNFP Pinnacle Financial Partners | 0.18% | 36,204 | $3.5M | Reduce -0.1% |
| SGOV iShares 0-3 Month Treasury B | 0.18% | 34,220 | $3.4M | Reduce -3.7% |
| CSCO Cisco Systems Inc. | 0.18% | 44,306 | $3.4M | Reduce -12.3% |
| LGLV SPDR US LC Low Vol Idx | 0.18% | 18,958 | $3.3M | No change |
| NFLX Netflix Inc. | 0.17% | 33,341 | $3.1M | Reduce -15.4% |
| MRK Merck & Co. Inc. | 0.16% | 29,086 | $3.1M | Add +1.6% |
| ETN Eaton Corp. PLC | 0.16% | 9,374 | $3.0M | Reduce -21.1% |
| ORCL Oracle Corp. | 0.16% | 15,102 | $2.9M | Reduce -9.1% |
| SCHG Schwab US Large-Cap Growth | 0.15% | 86,048 | $2.8M | Add +0.0% |
| LIEN Chicago Atlantic BDC Inc. | 0.15% | 268,088 | $2.8M | Add +29.9% |
| UNH Unitedhealth Group Inc. | 0.15% | 8,289 | $2.7M | Add +0.1% |
| RSP Invesco S&P 500 Equal Weight | 0.14% | 14,150 | $2.7M | Add +367.5% |
| IAU iShares Gold Trust | 0.14% | 32,753 | $2.7M | Reduce -0.8% |
| PLTR Palantir Technologies Inc. Class A | 0.14% | 14,729 | $2.6M | Reduce -6.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 8,762 | $2.6M | Reduce -0.7% |
| PG The Procter & Gamble Co. | 0.14% | 18,074 | $2.6M | Reduce -8.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.14% | 8,472 | $2.6M | Reduce -8.0% |
| DFAC Dimensional US Core Equity 2 | 0.14% | 64,523 | $2.6M | No change |
| COST Costco Wholesale Corp. | 0.13% | 2,914 | $2.5M | Reduce -15.2% |
| VIG Vanguard Dividend Apprec ETF | 0.13% | 11,077 | $2.4M | Add +161.2% |
| MU Micron Technology Inc. | 0.12% | 8,030 | $2.3M | Add +7.0% |
| CVX Chevron Corp. | 0.12% | 15,012 | $2.3M | Reduce -10.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.12% | 10,797 | $2.3M | No change |
| AMD Advanced Micro Devices | 0.12% | 10,651 | $2.3M | Reduce -0.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.12% | 3 | $2.3M | Reduce -40.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.12% | 7,191 | $2.3M | Add +1.1% |
| CIBR First Trust Nasdaq Cybersecu | 0.12% | 31,512 | $2.3M | No change |
| GLDM SPDR Gold Minishares Trust | 0.12% | 26,193 | $2.2M | Add +89.0% |
| GE General Electric filed as GE AEROSPACE | 0.12% | 7,194 | $2.2M | Reduce -5.1% |
| AXP American Express Co. | 0.12% | 5,928 | $2.2M | Reduce -5.4% |
| WFC Wells Fargo & Co. | 0.11% | 23,217 | $2.2M | Reduce -6.1% |
| C Citigroup Inc. | 0.11% | 18,045 | $2.1M | Add +5.3% |
| LRCX Lam Research Corp. | 0.11% | 12,292 | $2.1M | Reduce -4.8% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.11% | 47,171 | $2.1M | No change |
| GS Goldman Sachs Group Inc. | 0.11% | 2,363 | $2.1M | Add +2.2% |
| KO The Coca-Cola Co. | 0.11% | 29,638 | $2.1M | Reduce -5.4% |
| EFA iShares MSCI Eafe ETF | 0.11% | 21,487 | $2.1M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| QUAL iShares MSCI USA Quality Fac | Reduce -3.5% | 5.92% | −0.57 |
| MSFT Microsoft Corp. | Reduce -4.3% | 1.74% | −0.36 |
| META Meta Platforms Inc. Class A | Reduce -9.4% | 0.69% | −0.23 |
| KBDC Kayne Anderson BDC Inc. | Reduce -24.6% | 0.61% | −0.20 |
| NVDA Nvidia Corp. | Reduce -1.9% | 1.87% | −0.19 |
| ORCL Oracle Corp. | Reduce -9.1% | 0.16% | −0.11 |
| QUS SS SPDR MSCI U Stratfact ETF | Reduce -0.5% | 1.57% | −0.11 |
| NFLX Netflix Inc. | Reduce -15.4% | 0.17% | −0.11 |
| VXUS Vanguard Total Intl Stock | Reduce -6.0% | 0.82% | −0.10 |
| ETN Eaton Corp. PLC | Reduce -21.1% | 0.16% | −0.10 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -40.0% | 0.12% | −0.10 |
| TSLA Tesla Inc. | Reduce -2.3% | 1.01% | −0.09 |
| AVGO Broadcom Inc. | Reduce -2.9% | 1.40% | −0.09 |
| BAC Bank of America Corp. | Reduce -14.2% | 0.45% | −0.08 |
| VGSH Vanguard Short-Term Treasury | Reduce -11.3% | 0.37% | −0.08 |
| HD Home Depot Inc. | Reduce -8.3% | 0.21% | −0.08 |
| JPM JPMorgan Chase & Co. | Reduce -2.8% | 0.89% | −0.08 |
| AAPL Apple Inc. | Reduce -2.0% | 2.16% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.9% | 0.50% | −0.06 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -45.3% | 0.05% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -15.2% | 0.13% | −0.05 |
| FTNT Fortinet Inc. | Reduce -0.4% | 0.29% | −0.04 |
| T AT&T Inc. | Reduce -24.2% | 0.07% | −0.04 |
| REFI Chicago Atlantic Real Estate | Reduce -25.9% | 0.08% | −0.04 |
| LIN Linde PLC | Reduce -22.2% | 0.07% | −0.04 |
| ABT Abbott Laboratories | Reduce -15.7% | 0.10% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -38.2% | 0.04% | −0.04 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -0.6% | 0.60% | −0.04 |
| AGNC AGNC Investment Corp. | Reduce -41.6% | 0.05% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -8.8% | 0.14% | −0.04 |
| MPC Marathon Petroleum Corp. | Reduce -55.3% | 0.02% | −0.04 |
| IJR iShares Core S&P Small-Cap E | Reduce -8.8% | 0.21% | −0.04 |
| V Visa Inc. Class A | Reduce -6.0% | 0.31% | −0.04 |
| SO The Southern Co. | Reduce -30.7% | 0.05% | −0.04 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -0.4% | 0.57% | −0.03 |
| WEC WEC Energy Group Inc. | Reduce -50.5% | 0.02% | −0.03 |
| ABBV Abbvie Inc. | Reduce -6.2% | 0.20% | −0.03 |
| PSX Phillips 66 | Sold out | 0.00% | −0.03 |
| OMFL Invesco Russell 1000 DYN M/F | Reduce -1.1% | 0.39% | −0.03 |
| NOW ServiceNow Inc. | Reduce -18.9% | 0.05% | −0.03 |
| CVX Chevron Corp. | Reduce -10.3% | 0.12% | −0.03 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -13.6% | 0.10% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -6.8% | 0.14% | −0.03 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.03 |
| VBIL Vanguard 0-3M T-Bill ETF | Reduce -16.9% | 0.09% | −0.03 |
| IVV iShares Core S&P 500 ETF | Reduce -0.1% | 0.44% | −0.02 |
| MA Mastercard Inc. Class A | Reduce -4.6% | 0.19% | −0.02 |
| SBAC SBA Communications Corp. | Sold out | 0.00% | −0.02 |
| EVRG Evergy Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| JAAA Janus Henderson Aaa Clo ETF | Add +34.2% | 13.46% | +2.58 |
| JMST JPM Ultra-Short Muni Income | New | 1.59% | +1.59 |
| CHD Church & Dwight Co. Inc. | Add +1951.5% | 0.64% | +0.60 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +65.8% | 0.49% | +0.17 |
| RSP Invesco S&P 500 Equal Weight | Add +367.5% | 0.14% | +0.11 |
| LLY Eli Lilly & Co. | Add +0.8% | 0.41% | +0.10 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +46.5% | 0.35% | +0.09 |
| VIG Vanguard Dividend Apprec ETF | Add +161.2% | 0.13% | +0.08 |
| VGIT Vanguard Intermediate-Term T | Add +12.0% | 2.03% | +0.07 |
| GLDM SPDR Gold Minishares Trust | Add +89.0% | 0.12% | +0.06 |
| ACWI iShares MSCI Acwi ETF | Add +868.1% | 0.06% | +0.05 |
| MU Micron Technology Inc. | Add +7.0% | 0.12% | +0.05 |
| BNY Bank of New York Mellon Corp. | New | 0.05% | +0.05 |
| GBDC Golub Capital BDC Inc. | Add +11.0% | 2.42% | +0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +13.3% | 0.70% | +0.04 |
| HLT Hilton Worldwide Holdings Inc. | New | 0.04% | +0.04 |
| APP AppLovin Corp. Class A | Add +222.4% | 0.05% | +0.03 |
| D Dominion Energy Inc. | New | 0.03% | +0.03 |
| FDX FedEx Corp. | New | 0.03% | +0.03 |
| LULU Lululemon Athletica Inc. | Add +65.0% | 0.06% | +0.03 |
| NI Nisource Inc. | New | 0.03% | +0.03 |
| MRK Merck & Co. Inc. | Add +1.6% | 0.16% | +0.02 |
| UYLD Angel Oak Ultrashort Income | Add +15.8% | 0.34% | +0.02 |
| LIEN Chicago Atlantic BDC Inc. | Add +29.9% | 0.15% | +0.02 |
| JBBB Janus Henderson B-BBB Clo Et | Add +56.5% | 0.07% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +9.1% | 0.68% | +0.02 |
| IFRA iShares US Infrastructure | New | 0.02% | +0.02 |
| SYF Synchrony Financial | New | 0.02% | +0.02 |
| FTEC Fidelity MSCI Info Tech Indx | Add +127.3% | 0.04% | +0.02 |
| MAR Marriott International Class A | New | 0.02% | +0.02 |
| BPRE Bluerock Private Real Estate | New | 0.02% | +0.02 |
| PWR Quanta Services Inc. | New | 0.02% | +0.02 |
| DLTR Dollar Tree Inc. | New | 0.02% | +0.02 |
| AMAT Applied Materials Inc. | Add +5.3% | 0.10% | +0.02 |
| ISRG Intuitive Surgical Inc. | Add +12.1% | 0.08% | +0.02 |
| STZ Constellation Brands Inc. Class A | New | 0.02% | +0.02 |
| OMC Omnicom Group | New | 0.02% | +0.02 |
| TER Teradyne Inc. | New | 0.02% | +0.02 |
| ALB Albemarle Corp. | New | 0.02% | +0.02 |
| EMR Emerson Electric Co. | New | 0.02% | +0.02 |
| FOXA Fox Corp. Class A | New | 0.02% | +0.02 |
| MOH Molina Healthcare Inc. | New | 0.02% | +0.02 |
| HIG Hartford Insurance Group Inc. | New | 0.02% | +0.02 |
| IFF Intl Flavors & Fragrances | New | 0.02% | +0.02 |
| PEG Public Service Enterprise GP | New | 0.02% | +0.02 |
| AME Ametek Inc. | New | 0.02% | +0.02 |
| DAL Delta Air Lines Inc. | Add +16.2% | 0.07% | +0.02 |
| FBIN Fortune Brands Innovations I | New | 0.02% | +0.02 |
| AVY Avery Dennison Corp. | New | 0.02% | +0.02 |
| QCOM Qualcomm Inc. | Add +30.7% | 0.08% | +0.02 |
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 |