Sage Rhino Capital LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 17, 2025), Sage Rhino Capital LLC reported 280 stock positions worth $472.9 million. Its top holding was iShares Gold Trust (IAU) at 4.2% of the portfolio, followed by Vngrd Mrngstr MD-Cap ETF-Usd (VO, 4.0%) and Goldman Sachs Access Treasur (GBIL, 3.9%). Compared with Q1 2025, it opened 34 new positions, sold out of 19, added to 126 and reduced 102. The biggest buy was Goldman Sachs Access Treasur (GBIL, shares +40%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- MENLO PARK, CA
- CIK
- 0001771605
- Portfolio Value
- $472.9M (Q2 2025)
- SEC Filing
- 0001085146-25-003912 ↗ filed Jul 17, 2025
Holdings Value
Holdings 280 stocks · $472.9M
| IAU iShares Gold Trust | 4.24% | 321,686 | $20.1M | Add +7.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 3.99% | 67,395 | $18.9M | Add +3.2% |
| GBIL Goldman Sachs Access Treasur | 3.88% | 183,149 | $18.3M | Add +39.8% |
| RSP Invesco S&P 500 Equal Weight | 3.66% | 95,159 | $17.3M | Reduce -6.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 3.52% | 70,328 | $16.7M | Add +4.8% |
| IEFA iShares Core MSCI Eafe ETF | 3.27% | 185,390 | $15.5M | Add +8.1% |
| AVUV Avantis US Small Cap Value | 3.12% | 162,049 | $14.8M | Add +2.5% |
| SDY SS SPDR S&P Dividend ETF | 2.25% | 78,470 | $10.7M | Reduce -6.2% |
| AAPL Apple Inc. | 2.04% | 47,081 | $9.7M | Reduce -1.5% |
| AVLV Avantis US Large Cap Value | 2.03% | 140,787 | $9.6M | Reduce -8.5% |
| VTI VG Morningstar TS MKT ETF-US | 1.87% | 29,086 | $8.8M | Reduce -0.9% |
| VWO Vanguard Ftse Emerging Marke | 1.83% | 175,235 | $8.7M | Add +13.6% |
| AVUS Avantis U.S. Equity ETF | 1.78% | 83,621 | $8.4M | Reduce -18.7% |
| AVDE Avantis International Equity | 1.77% | 113,184 | $8.4M | Add +9.9% |
| TSLA Tesla Inc. | 1.73% | 25,689 | $8.2M | Reduce -0.2% |
| MSFT Microsoft Corp. | 1.69% | 16,020 | $8.0M | Add +6.0% |
| JAAA Janus Henderson Aaa Clo ETF | 1.62% | 150,905 | $7.7M | Reduce -8.0% |
| SGOV iShares 0-3 Month Treasury B | 1.60% | 75,377 | $7.6M | Add +54.7% |
| COIN Coinbase Global Inc. Class A | 1.59% | 21,454 | $7.5M | Add +1.9% |
| VCIT Vanguard Int-Term Corporate | 1.56% | 89,152 | $7.4M | Add +0.6% |
| VYM Vanguard High DVD Yield ETF | 1.53% | 54,248 | $7.2M | Add +2.2% |
| XLI SS Industrial Select Sector | 1.46% | 46,934 | $6.9M | Reduce -8.2% |
| BND Vanguard Total Bond Market | 1.44% | 92,268 | $6.8M | Reduce -0.2% |
| IEMG iShares Core MSCI Emerging | 1.19% | 93,812 | $5.6M | Add +12.7% |
| BNDX Vanguard Total Intl Bond ETF | 1.18% | 112,673 | $5.6M | Add +2.6% |
| RSPT Invesco S&P 500 Equal Weight | 1.17% | 135,721 | $5.5M | Reduce -8.2% |
| GSST Goldman Sachs Ultra Short Bo | 1.14% | 106,568 | $5.4M | Reduce -12.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.14% | 8,716 | $5.4M | Add +0.2% |
| VSS Vanguard Ftse All Wo X-US SC | 1.13% | 39,834 | $5.4M | Add +11.5% |
| VHT Vanguard Health Care ETF | 1.06% | 20,105 | $5.0M | Reduce -4.0% |
| NVDA Nvidia Corp. | 1.00% | 29,909 | $4.7M | Add +2.3% |
| AMZN Amazon.com Inc. | 0.83% | 17,939 | $3.9M | Add +2.6% |
| VMBS Vanguard Mortgage-Backed Sec | 0.82% | 84,034 | $3.9M | Reduce -6.2% |
| GOOG Alphabet Inc. Class C | 0.79% | 21,029 | $3.7M | Add +9.4% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.77% | 55,937 | $3.7M | Add +3.1% |
| GSBD Goldman Sachs BDC Inc. | 0.66% | 276,485 | $3.1M | Add +4.8% |
| VTIP Vanguard Short-Term Tips | 0.63% | 59,307 | $3.0M | Add +4.8% |
| MINT PIMCO Enhanced Short Maturit | 0.63% | 29,572 | $3.0M | Reduce -10.4% |
| IVV iShares Core S&P 500 ETF | 0.61% | 4,666 | $2.9M | No change |
| JPM JPMorgan Chase & Co. | 0.61% | 9,991 | $2.9M | Reduce -0.4% |
| JCPI JP Morgan Inflation MGD Bond | 0.58% | 57,180 | $2.8M | Reduce -3.3% |
| JPST JPMorgan Ultra-Short Income | 0.57% | 53,579 | $2.7M | Reduce -15.4% |
| NFLX Netflix Inc. | 0.55% | 1,950 | $2.6M | Reduce -3.3% |
| LDUR PIMCO Enhanced Low Duration | 0.52% | 25,772 | $2.5M | Reduce -10.3% |
| IYR iShares US Real Estate ETF | 0.49% | 24,393 | $2.3M | Add +1.8% |
| XBB Bondbloxx-BB Rated Usd HY CB | 0.49% | 55,794 | $2.3M | Add +1.2% |
| IAGG iShares Intl Aggregate Bond | 0.47% | 43,907 | $2.2M | Add +1.8% |
| VUSB Vanguard Ultra Short Bond Et | 0.47% | 44,727 | $2.2M | Reduce -13.1% |
| GOOGL Alphabet Inc. Class A | 0.46% | 12,213 | $2.2M | Add +13.4% |
| DFGR Dim Global Real Estate ETF | 0.45% | 80,118 | $2.1M | Add +9.3% |
| JPIE JPMorgan Income ETF | 0.45% | 45,960 | $2.1M | Reduce -5.1% |
| META Meta Platforms Inc. Class A | 0.44% | 2,841 | $2.1M | Reduce -0.7% |
| VAW Vanguard Materials ETF | 0.43% | 10,336 | $2.0M | Reduce -13.3% |
| ORCL Oracle Corp. | 0.42% | 9,118 | $2.0M | Reduce -0.2% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.39% | 37,903 | $1.9M | Reduce -4.8% |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 0.38% | 18,994 | $1.8M | Reduce -1.7% |
| AVGO Broadcom Inc. | 0.37% | 6,303 | $1.7M | Reduce -1.3% |
| WFC Wells Fargo & Co. | 0.36% | 21,215 | $1.7M | Add +8.7% |
| LLY Eli Lilly & Co. | 0.35% | 2,151 | $1.7M | Add +0.6% |
| FLEX Flex Ltd. | 0.35% | 33,372 | $1.7M | Add +3.5% |
| VEU Vanguard Ftse All-World Ex-U | 0.35% | 24,777 | $1.7M | Reduce -17.6% |
| GNR State Street SPDR S&P Global | 0.32% | 28,054 | $1.5M | Reduce -1.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.31% | 2 | $1.5M | No change |
| ROST Ross Stores Inc. | 0.30% | 11,154 | $1.4M | Add +20.7% |
| IWM iShares Russell 2000 ETF | 0.30% | 6,580 | $1.4M | No change |
| AXP American Express Co. | 0.30% | 4,440 | $1.4M | Add +0.2% |
| TRNO Terreno Realty Corp. | 0.30% | 25,158 | $1.4M | Add +0.3% |
| COST Costco Wholesale Corp. | 0.29% | 1,362 | $1.3M | Add +0.1% |
| CCJ Cameco Corp. | 0.28% | 17,766 | $1.3M | Reduce -0.0% |
| ABNB Airbnb Inc. Class A | 0.28% | 9,924 | $1.3M | Add +1.9% |
| DOCU Docusign Inc. | 0.28% | 16,786 | $1.3M | Reduce -0.2% |
| SCHW Schwab (charles) Corp. | 0.28% | 14,260 | $1.3M | Add +0.1% |
| CRC California Resources Corp. | 0.27% | 27,950 | $1.3M | Add +8.8% |
| BLK BlackRock Inc. | 0.27% | 1,205 | $1.3M | Reduce -0.1% |
| AVEM Avantis Emerging Markets Eq | 0.26% | 18,064 | $1.2M | Add +0.1% |
| PG The Procter & Gamble Co. | 0.26% | 7,763 | $1.2M | Add +0.1% |
| VXF Vanguard Extended Market ETF | 0.26% | 6,317 | $1.2M | Reduce -9.2% |
| CSCO Cisco Systems Inc. | 0.26% | 17,428 | $1.2M | Reduce -0.2% |
| BX Blackstone Inc. | 0.25% | 8,036 | $1.2M | Add +0.8% |
| V Visa Inc. Class A | 0.25% | 3,377 | $1.2M | Add +0.1% |
| MS Morgan Stanley | 0.24% | 8,097 | $1.1M | Add +0.0% |
| ZTS Zoetis Inc. | 0.24% | 7,155 | $1.1M | Add +2.0% |
| DASH DoorDash Inc. Class A | 0.23% | 4,448 | $1.1M | Add +2.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.23% | 2,243 | $1.1M | Reduce -0.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.23% | 1,340 | $1.1M | Reduce -3.0% |
| DFAX Dimensional World Ex US Core | 0.22% | 36,002 | $1.1M | Reduce -4.5% |
| JNJ Johnson & Johnson | 0.22% | 6,878 | $1.1M | Add +2.1% |
| SAP Sap SE-Sponsored ADR | 0.22% | 3,438 | $1.0M | Add +1.1% |
| NVS Novartis AG-Sponsored ADR | 0.21% | 8,120 | $983K | Add +1.2% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.20% | 10,519 | $968K | Add +50.6% |
| KKR KKR & Co. Inc. | 0.20% | 7,263 | $966K | Reduce -9.4% |
| CWB SS SPDR BB Conv Sec ETF | 0.20% | 11,635 | $962K | Add +0.5% |
| VIG Vanguard Dividend Apprec ETF | 0.20% | 4,622 | $946K | No change |
| SHEL Shell PLC-ADR | 0.20% | 13,275 | $935K | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.19% | 3,934 | $891K | Add +3.4% |
| CRM Salesforce Inc. | 0.18% | 3,176 | $866K | Add +0.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.18% | 12,251 | $856K | Reduce -0.1% |
| IWF iShares Russell 1000 Growth | 0.18% | 2,000 | $849K | No change |
| PFF iShares Preferred & Income S | 0.18% | 27,233 | $836K | Add +6.1% |
| MRK Merck & Co. Inc. | 0.18% | 10,531 | $834K | Reduce -0.5% |
Options reported separately and not counted above: CCJ calls ($255K), NG calls ($3K).
Portfolio Sells Q1 2025 → Q2 2025
| RSP Invesco S&P 500 Equal Weight | Reduce -6.4% | 3.66% | −0.43 |
| AVUS Avantis U.S. Equity ETF | Reduce -18.7% | 1.78% | −0.42 |
| AAPL Apple Inc. | Reduce -1.5% | 2.04% | −0.42 |
| SDY SS SPDR S&P Dividend ETF | Reduce -6.2% | 2.25% | −0.38 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -8.0% | 1.62% | −0.31 |
| AVLV Avantis US Large Cap Value | Reduce -8.5% | 2.03% | −0.30 |
| GSST Goldman Sachs Ultra Short Bo | Reduce -12.2% | 1.14% | −0.28 |
| VHT Vanguard Health Care ETF | Reduce -4.0% | 1.06% | −0.23 |
| JPST JPMorgan Ultra-Short Income | Reduce -15.4% | 0.57% | −0.17 |
| MINT PIMCO Enhanced Short Maturit | Reduce -10.4% | 0.63% | −0.14 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -6.2% | 0.82% | −0.14 |
| BND Vanguard Total Bond Market | Reduce -0.2% | 1.44% | −0.14 |
| VUSB Vanguard Ultra Short Bond Et | Reduce -13.1% | 0.47% | −0.12 |
| LDUR PIMCO Enhanced Low Duration | Reduce -10.3% | 0.52% | −0.12 |
| CLF Cleveland-Cliffs Inc. | Reduce -83.0% | 0.02% | −0.10 |
| VAW Vanguard Materials ETF | Reduce -13.3% | 0.43% | −0.10 |
| XLI SS Industrial Select Sector | Reduce -8.2% | 1.46% | −0.09 |
| EPAM Epam Systems Inc. | Sold out | 0.00% | −0.08 |
| JCPI JP Morgan Inflation MGD Bond | Reduce -3.3% | 0.58% | −0.08 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −0.07 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -17.6% | 0.35% | −0.07 |
| JPIE JPMorgan Income ETF | Reduce -5.1% | 0.45% | −0.07 |
| TFX Teleflex Inc. | Sold out | 0.00% | −0.07 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -4.8% | 0.39% | −0.06 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -8.4% | 0.06% | −0.06 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.05 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.05 |
| OGN Organon & Co. | Sold out | 0.00% | −0.05 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.05 |
| DFNM Dimensional National Muni BD | Sold out | 0.00% | −0.05 |
| CLOV Clover Health Investments Co. | Reduce -0.1% | 0.12% | −0.05 |
| NSIT Insight Enterprises Inc. | Sold out | 0.00% | −0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −0.05 |
| SMMU PIMCO SHRT TRM Muni BND ETF | Reduce -19.0% | 0.14% | −0.05 |
| BOND PIMCO Active Bond Exchange-T | Reduce -26.9% | 0.10% | −0.05 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 0.23% | −0.05 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.05 |
| BJ Bj's Wholesale Club Holdings | Sold out | 0.00% | −0.05 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.05 |
| ARE Alexandria Real Estate Equit | Reduce -0.5% | 0.11% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -0.5% | 0.18% | −0.04 |
| DOCU Docusign Inc. | Reduce -0.2% | 0.28% | −0.04 |
| CORT Corcept Therapeutics Inc. | Reduce -7.4% | 0.05% | −0.04 |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | Reduce -1.7% | 0.38% | −0.04 |
| WDS Woodside Energy Group-ADR | Sold out | 0.00% | −0.03 |
| AMGN Amgen Inc. | Reduce -0.3% | 0.14% | −0.03 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -8.0% | 0.14% | −0.03 |
| GNR State Street SPDR S&P Global | Reduce -1.4% | 0.32% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| GBIL Goldman Sachs Access Treasur | Add +39.8% | 3.88% | +0.84 |
| COIN Coinbase Global Inc. Class A | Add +1.9% | 1.59% | +0.75 |
| SGOV iShares 0-3 Month Treasury B | Add +54.7% | 1.60% | +0.47 |
| MSFT Microsoft Corp. | Add +6.0% | 1.69% | +0.37 |
| NVDA Nvidia Corp. | Add +2.3% | 1.00% | +0.26 |
| IEFA iShares Core MSCI Eafe ETF | Add +8.1% | 3.27% | +0.26 |
| VWO Vanguard Ftse Emerging Marke | Add +13.6% | 1.83% | +0.21 |
| AVDE Avantis International Equity | Add +9.9% | 1.77% | +0.19 |
| VSS Vanguard Ftse All Wo X-US SC | Add +11.5% | 1.13% | +0.17 |
| IAU iShares Gold Trust | Add +7.9% | 4.24% | +0.17 |
| IEMG iShares Core MSCI Emerging | Add +12.7% | 1.19% | +0.15 |
| FLEX Flex Ltd. | Add +3.5% | 0.35% | +0.10 |
| AAAU Goldman Sachs Physical Gold | Add +142.8% | 0.17% | +0.10 |
| GOOG Alphabet Inc. Class C | Add +9.4% | 0.79% | +0.09 |
| CF CF Industries Holdings Inc. | Add +50.6% | 0.20% | +0.08 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +4.8% | 3.52% | +0.07 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +3.2% | 3.99% | +0.07 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | New | 0.07% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +13.4% | 0.46% | +0.07 |
| CEG Constellation Energy | New | 0.06% | +0.06 |
| GEV GE Vernova Inc. | New | 0.06% | +0.06 |
| AMZN Amazon.com Inc. | Add +2.6% | 0.83% | +0.06 |
| BMI Badger Meter Inc. | New | 0.05% | +0.05 |
| DB Deutsche Bank AG-Registered | New | 0.05% | +0.05 |
| PLTR Palantir Technologies Inc. Class A | New | 0.05% | +0.05 |
| VISN Vistance Networks Inc. | New | 0.05% | +0.05 |
| DASH DoorDash Inc. Class A | Add +2.9% | 0.23% | +0.05 |
| AVAV Aerovironment Inc. | New | 0.05% | +0.05 |
| IBN Icici Bank Ltd.-Spon ADR | New | 0.05% | +0.05 |
| FLR Fluor Corp. | New | 0.05% | +0.05 |
| AL Sumisho Air Lease Corp. | New | 0.05% | +0.05 |
| DIS The Walt Disney Co. | New | 0.05% | +0.05 |
| SPXC SPX Technologies Inc. | New | 0.05% | +0.05 |
| COR Cencora Inc. | New | 0.05% | +0.05 |
| DE Deere & Co. | New | 0.05% | +0.05 |
| IDCC Interdigital Inc. | New | 0.04% | +0.04 |
| FHN First Horizon Corp. | New | 0.04% | +0.04 |
| WPC WP Carey Inc. | New | 0.04% | +0.04 |
| JBTM JBT Marel Corp. | New | 0.04% | +0.04 |
| DFUS Dimensional US Eq MKT ETF | New | 0.04% | +0.04 |
| LAD Lithia Motors Inc. | New | 0.04% | +0.04 |
| ADBE Adobe Inc. | New | 0.04% | +0.04 |
| RDN Radian Group Inc. | New | 0.04% | +0.04 |
| AWI Armstrong World Industries | New | 0.04% | +0.04 |
| SE Sea Ltd.-ADR | New | 0.04% | +0.04 |
| SIG Signet Jewelers Ltd. | New | 0.04% | +0.04 |
| AXON Axon Enterprise Inc. | New | 0.04% | +0.04 |
| CAT Caterpillar Inc. | New | 0.04% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.4% | 0.19% | +0.04 |
| WFC Wells Fargo & Co. | Add +8.7% | 0.36% | +0.03 |
Options Activity Q1 2025 → Q2 2025
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 380 | $608.3M | VB, VO, GBIL, RSP, AVUV |
| Q1 2026 | 328 | $534.5M | VO, VB, AVUV, RSP, IEFA |
| Q4 2025 | 308 | $529.4M | IAU, VO, VB, RSP, IEFA |
| Q3 2025 | 297 | $517.1M | IAU, GBIL, VO, VB, RSP |
| Q2 2025 | 280 | $472.9M | IAU, VO, GBIL, RSP, VB |
| Q1 2025 | 265 | $431.2M | RSP, IAU, VO, VB, AVUV |
| Q4 2024 | 271 | $458.4M | RSP, VO, IAU, VB, GBIL |
| Q3 2024 | 278 | $451.5M | RSP, VO, IAU, VB, AVUV |
| Q2 2024 | 251 | $418.7M | RSP, VO, IAU, VB, AVUV |
| Q1 2024 | 238 | $423.8M | RSP, VO, VB, IAU, AVUV |