Sand Hill Global Advisors, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Sand Hill Global Advisors, LLC reported 199 stock positions worth $2.8 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 10.7% of the portfolio, followed by iShares MSCI Eafe ETF (EFA, 9.3%) and SS SPDR S&P 500 ETF Trust-US (SPY, 8.2%). Compared with Q2 2025, it opened 12 new positions, sold out of 15, added to 27 and reduced 110. The biggest buy was Vanguard Real Estate ETF (VNQ, shares +89%) and the biggest sale iShares Ultra Short Duration (ICSH, shares −68%).

Most Recent 13F
Q2 2026
Location
Palo Alto, CA
CIK
0001009209
Portfolio Value
$2.8B (Q3 2025)
SEC Filing
0001580642-25-007219 ↗ filed Nov 12, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.1B Q1 2024 Q2 2024: $2.2B Q2 2024 Q3 2024: $2.4B Q3 2024 Q4 2024: $2.4B Q4 2024 Q1 2025: $2.4B Q1 2025 Q2 2025: $2.7B Q2 2025 Q3 2025: $2.8B $2.8B Q3 2025 Q4 2025: $2.9B Q4 2025 Q1 2026: $3.0B Q1 2026 Q2 2026: $3.3B Q2 2026

Holdings 199 stocks · $2.8B
VOO Vanguard S&P 500 ETF 10.74% 498,024 $305.0M Reduce -6.2%
EFA iShares MSCI Eafe ETF 9.34% 2,841,288 $265.3M Add +1.1%
SPY SS SPDR S&P 500 ETF Trust-US 8.18% 348,756 $232.3M Reduce -4.3%
VWO Vanguard Ftse Emerging Marke 6.00% 3,143,808 $170.3M Reduce -1.2%
VNQ Vanguard Real Estate ETF 5.22% 1,623,190 $148.4M Add +89.5%
IJH iShares Core S&P Midcap ETF 5.19% 2,260,253 $147.5M Reduce -0.4%
IWM iShares Russell 2000 ETF 4.96% 582,631 $141.0M Reduce -4.4%
SPYM Ste STR SPDR PT S&P 500 ETF 4.61% 1,672,735 $131.0M Reduce -1.9%
VBK Van Morst SML-Cap Gro-Usd Inc. 3.20% 305,716 $91.0M Reduce -0.5%
QQQ Invesco QQQ Trust Series 1 2.78% 131,728 $79.1M Reduce -1.2%
VGIT Vanguard Intermediate-Term T 2.39% 1,128,842 $67.8M Add +1.7%
AGG iShares Core U.S. Aggregate 2.35% 667,066 $66.9M Add +3.1%
IVV iShares Core S&P 500 ETF 1.78% 75,541 $50.6M Reduce -9.4%
BOND PIMCO Active Bond Exchange-T 1.75% 531,973 $49.7M Add +0.2%
NVDA Nvidia Corp. 1.55% 236,373 $44.1M Reduce -2.4%
AAPL Apple Inc. 1.29% 143,828 $36.6M Reduce -2.0%
MSFT Microsoft Corp. 1.22% 66,836 $34.6M Reduce -1.4%
GOOGL Alphabet Inc. Class A 0.97% 113,527 $27.6M Reduce -2.9%
AMZN Amazon.com Inc. 0.96% 124,244 $27.3M Reduce -2.4%
JPM JPMorgan Chase & Co. 0.88% 79,447 $25.1M Reduce -6.2%
META Meta Platforms Inc. Class A 0.88% 33,918 $24.9M Reduce -2.0%
ESGU iShares ESG Aware MSCI USA 0.83% 161,337 $23.5M Reduce -4.8%
VEA Vanguard Ftse Developed ETF 0.69% 327,920 $19.6M Reduce -1.1%
DOCS Doximity Inc. Class A 0.62% 240,301 $17.6M No change
V Visa Inc. Class A 0.58% 48,618 $16.6M Reduce -6.1%
ICSH iShares Ultra Short Duration 0.56% 314,561 $16.0M Reduce -68.4%
VEEV Veeva Systems Inc. Class A 0.55% 52,869 $15.8M No change
IYR iShares US Real Estate ETF 0.54% 157,651 $15.3M Add +8.0%
JPST JPMorgan Ultra-Short Income 0.50% 282,629 $14.3M Add +65.6%
BRK.A Berkshire Hathaway Inc. Class A 0.50% 19 $14.3M No change
PULS Pgim Ultra Short Bond ETF 0.50% 286,068 $14.3M Add +66.2%
ESML iShares ESG Aware MSCI USA S 0.48% 301,505 $13.6M Reduce -0.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.44% 86,657 $12.5M Reduce -4.3%
DASH DoorDash Inc. Class A 0.42% 44,392 $12.1M Reduce -15.0%
PH Parker Hannifin Corp. 0.42% 15,719 $11.9M Reduce -2.0%
AVGO Broadcom Inc. 0.42% 35,815 $11.8M Reduce -3.6%
ESGD iShares Trust iShares ESG Aw 0.41% 126,031 $11.7M Add +3.0%
BSV Vanguard Short-Term Bond ETF 0.38% 136,734 $10.8M No change
ZM Zoom Communications Inc. 0.38% 130,322 $10.8M Add +5.4%
BLK BlackRock Inc. 0.37% 9,035 $10.5M Reduce -3.5%
CME Cme Group Inc. 0.36% 38,111 $10.3M Reduce -2.4%
CVX Chevron Corp. 0.34% 62,733 $9.7M Reduce -0.7%
ADSK Autodesk Inc. 0.33% 29,170 $9.3M Reduce -2.5%
VB Vanguard Most SM-Cap ETF-Usd 0.32% 36,282 $9.2M Reduce -3.2%
JNJ Johnson & Johnson 0.32% 49,470 $9.2M Reduce -3.3%
ECL Ecolab Inc. 0.31% 32,213 $8.8M Reduce -3.0%
SYK Stryker Corp. 0.30% 23,293 $8.6M Reduce -2.5%
PANW Palo Alto Networks Inc. 0.30% 41,960 $8.5M Reduce -3.2%
TSLA Tesla Inc. 0.29% 18,522 $8.2M Reduce -7.5%
PG The Procter & Gamble Co. 0.29% 53,141 $8.2M Reduce -2.2%
ABT Abbott Laboratories 0.28% 58,862 $7.9M Reduce -3.7%
BKNG Booking Holdings Inc. 0.27% 1,423 $7.7M Reduce -1.9%
ACWX iShares MSCI Acwi Ex US ETF 0.27% 117,252 $7.6M Reduce -0.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.26% 64,598 $7.4M Reduce -2.6%
HON Honeywell International Inc. 0.26% 34,898 $7.3M Reduce -4.0%
NEAR iShares SH Dba ETF Usd Inc. 0.26% 141,566 $7.3M Add +0.1%
WM Waste Management Inc. 0.25% 32,492 $7.2M Reduce -1.9%
MDY State Street SPDR S&P Midcap 0.25% 11,939 $7.1M Reduce -2.2%
CRM Salesforce Inc. 0.25% 29,814 $7.1M Reduce -1.1%
AEP American Electric Power 0.24% 61,405 $6.9M Reduce -0.9%
VTI VG Morningstar TS MKT ETF-US 0.24% 20,878 $6.9M Reduce -11.9%
EEM iShares MSCI Emerging Market 0.24% 127,003 $6.8M Reduce -2.4%
LLY Eli Lilly & Co. 0.23% 8,692 $6.6M Reduce -3.2%
WYNN WYNN Resorts Ltd. 0.23% 51,285 $6.6M Add +5.3%
SNOW Snowflake Inc. 0.22% 28,046 $6.3M Reduce -1.0%
BRK.B Berkshire Hathaway Inc. Class B 0.22% 12,405 $6.2M Reduce -21.9%
VCSH Vanguard S/T Corp. Bond ETF 0.21% 76,186 $6.1M No change
ETN Eaton Corp. PLC 0.21% 16,256 $6.1M Reduce -1.3%
ACWI iShares MSCI Acwi ETF 0.20% 42,046 $5.8M No change
LNG Cheniere Energy Inc. 0.20% 23,708 $5.6M Reduce -1.8%
ARE Alexandria Real Estate Equit 0.19% 63,305 $5.3M New
EAGG iShares ESG Aware US Aggrega 0.18% 109,429 $5.3M Add +2.4%
INTU Intuit Inc. 0.18% 7,578 $5.2M Reduce -2.0%
PWR Quanta Services Inc. 0.18% 12,300 $5.1M Reduce -2.7%
KMB Kimberly-Clark Corp. 0.18% 40,783 $5.1M Reduce -3.0%
MUB iShares National Muni Bond E 0.18% 47,287 $5.0M Reduce -34.5%
SCHO Schwab Short-Term US Treas 0.17% 198,408 $4.8M Add +1.4%
ESGE iShares Inc. iShares ESG Awar 0.17% 110,455 $4.8M Add +0.1%
ACN Accenture PLC Class A 0.17% 19,275 $4.8M Reduce -6.2%
PLD Prologis Inc. 0.17% 41,359 $4.7M Reduce -2.1%
IWB iShares Russell 1000 ETF 0.17% 12,905 $4.7M Reduce -1.0%
CMF iShares California Muni Bond 0.16% 77,453 $4.4M Reduce -13.3%
NEM Newmont Corp. 0.15% 51,799 $4.4M Reduce -35.6%
DFUS Dimensional US Eq MKT ETF 0.15% 58,249 $4.2M Reduce -2.2%
SCHX Schwab US Large-Cap ETF 0.15% 159,817 $4.2M No change
ETR Entergy Corp. 0.14% 43,920 $4.1M Add +31.3%
GOOG Alphabet Inc. Class C 0.14% 16,805 $4.1M Reduce -21.9%
VGSR Vert GLB Sust Re ETF filed as MANAGER DIRECTED PORTFOLIOS 0.14% 374,791 $4.0M New
IWV iShares Russell 3000 ETF 0.13% 9,802 $3.7M Reduce -0.5%
MUNI PIMCO Intermediate Municipal 0.12% 66,418 $3.5M Add +0.0%
COST Costco Wholesale Corp. 0.12% 3,707 $3.4M Reduce -0.2%
QQMG Invesco ESG Nasdaq 100 0.12% 82,732 $3.4M Add +0.3%
SCHF Schwab Intl Equity ETF 0.11% 131,495 $3.1M No change
TGT Target Corp. 0.11% 34,041 $3.1M Reduce -6.0%
IWO iShares Russell 2000 Growth 0.10% 8,984 $2.9M No change
HD Home Depot Inc. 0.09% 6,571 $2.7M Reduce -1.1%
VRTX Vertex Pharmaceuticals Inc. 0.09% 6,726 $2.6M Reduce -8.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.09% 8,509 $2.5M Reduce -8.3%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.09% 7,938 $2.4M No change
PGR Progressive Corp. 0.07% 7,954 $2.0M Reduce -0.0%

Show all 199 holdings

Portfolio Sells Q2 2025 → Q3 2025
ICSH iShares Ultra Short Duration Reduce -68.4% 0.56% −1.31
VOO Vanguard S&P 500 ETF Reduce -6.2% 10.74% −0.46
SPY SS SPDR S&P 500 ETF Trust-US Reduce -4.3% 8.18% −0.18
DHR Danaher Corp. Reduce -91.2% 0.02% −0.18
IVV iShares Core S&P 500 ETF Reduce -9.4% 1.78% −0.14
MUB iShares National Muni Bond E Reduce -34.5% 0.18% −0.10
V Visa Inc. Class A Reduce -6.1% 0.58% −0.10
ITOT iShares Core S&P Total U.S. Sold out 0.00% −0.08
AMZN Amazon.com Inc. Reduce -2.4% 0.96% −0.08
META Meta Platforms Inc. Class A Reduce -2.0% 0.88% −0.07
VOT Vngrd Mrngstr MC GRW ETF-Usd Sold out 0.00% −0.07
BRK.B Berkshire Hathaway Inc. Class B Reduce -21.9% 0.22% −0.07
ACN Accenture PLC Class A Reduce -6.2% 0.17% −0.06
IUSG iShares Core S&P U.S. Growth Sold out 0.00% −0.06
CRM Salesforce Inc. Reduce -1.1% 0.25% −0.06
HON Honeywell International Inc. Reduce -4.0% 0.26% −0.06
DASH DoorDash Inc. Class A Reduce -15.0% 0.42% −0.05
SYK Stryker Corp. Reduce -2.5% 0.30% −0.05
NFLX Netflix Inc. Reduce -65.5% 0.02% −0.05
DIS The Walt Disney Co. Reduce -2.6% 0.26% −0.04
INTU Intuit Inc. Reduce -2.0% 0.18% −0.04
BKNG Booking Holdings Inc. Reduce -1.9% 0.27% −0.04
CME Cme Group Inc. Reduce -2.4% 0.36% −0.04
LRCX Lam Research Corp. Reduce -72.0% 0.02% −0.04
PG The Procter & Gamble Co. Reduce -2.2% 0.29% −0.03
MSFT Microsoft Corp. Reduce -1.4% 1.22% −0.03
SCHD Schwab US DVD Equity ETF Sold out 0.00% −0.03
IJH iShares Core S&P Midcap ETF Reduce -0.4% 5.19% −0.03
ABT Abbott Laboratories Reduce -3.7% 0.28% −0.03
IUSV iShares Core S&P U.S. Value Sold out 0.00% −0.03
MA Mastercard Inc. Class A Reduce -51.0% 0.03% −0.03
IEMG iShares Core MSCI Emerging Reduce -77.9% 0.01% −0.03
CMF iShares California Muni Bond Reduce -13.3% 0.16% −0.03
JPM JPMorgan Chase & Co. Reduce -6.2% 0.88% −0.03
WM Waste Management Inc. Reduce -1.9% 0.25% −0.03
PANW Palo Alto Networks Inc. Reduce -3.2% 0.30% −0.03
VRTX Vertex Pharmaceuticals Inc. Reduce -8.1% 0.09% −0.03
LLY Eli Lilly & Co. Reduce -3.2% 0.23% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -11.9% 0.24% −0.03
TGT Target Corp. Reduce -6.0% 0.11% −0.03
UNH Unitedhealth Group Inc. Sold out 0.00% −0.03
UBER Uber Technologies Inc. Reduce -54.2% 0.02% −0.02
ESGU iShares ESG Aware MSCI USA Reduce -4.8% 0.83% −0.02
KMB Kimberly-Clark Corp. Reduce -3.0% 0.18% −0.02
LNG Cheniere Energy Inc. Reduce -1.8% 0.20% −0.02
ECL Ecolab Inc. Reduce -3.0% 0.31% −0.02
NEM Newmont Corp. Reduce -35.6% 0.15% −0.02
JMUB JPMorgan Municipal ETF Reduce -29.2% 0.04% −0.02
ADSK Autodesk Inc. Reduce -2.5% 0.33% −0.02
COST Costco Wholesale Corp. Reduce -0.2% 0.12% −0.02

Portfolio Buys Q2 2025 → Q3 2025
VNQ Vanguard Real Estate ETF Add +89.5% 5.22% +2.39
ARE Alexandria Real Estate Equit New 0.19% +0.19
PULS Pgim Ultra Short Bond ETF Add +66.2% 0.50% +0.18
JPST JPMorgan Ultra-Short Income Add +65.6% 0.50% +0.18
VGSR Vert GLB Sust Re ETF New 0.14% +0.14
WYNN WYNN Resorts Ltd. Add +5.3% 0.23% +0.06
ETR Entergy Corp. Add +31.3% 0.14% +0.04
TOV Jlens 500 Jewish Advy US ETF New 0.03% +0.03
IYR iShares US Real Estate ETF Add +8.0% 0.54% +0.03
ZM Zoom Communications Inc. Add +5.4% 0.38% +0.02
BAC Bank of America Corp. New 0.02% +0.02
ISRG Intuitive Surgical Inc. New 0.02% +0.02
EFA iShares MSCI Eafe ETF Add +1.1% 9.34% +0.01
BND Vanguard Total Bond Market Add +148.0% 0.02% +0.01
ESGE iShares Inc. iShares ESG Awar Add +0.1% 0.17% +0.01
RBLX Roblox Corp. Class A New 0.01% +0.01
DVY iShares Select Dividend ETF New 0.01% +0.01
IVW iShares S&P 500 Growth ETF New 0.01% +0.01
TMO Thermo Fisher Scientific Inc. New 0.01% +0.01
ESGD iShares Trust iShares ESG Aw Add +3.0% 0.41% +0.01
NOC Northrop Grumman Corp. New 0.01% +0.01
QQMG Invesco ESG Nasdaq 100 Add +0.3% 0.12% +0.00
OPEN Opendoor Technologies Inc. New 0.00% +0.00
SCHC Schwab Intl Small-Cap Equity Add +10.1% 0.03% +0.00
VTEC Vanguard Ca Tax-Ex Bond Add +13.7% 0.03% +0.00
VGT Vanguard Info Tech ETF Add +18.9% 0.01% +0.00
RWT Redwood Trust Inc. New 0.00% +0.00
OEF iShares S&P 100 ETF Add +0.0% 0.04% +0.00
VXUS Vanguard Total Intl Stock Add +3.1% 0.01% +0.00
HTGC Hercules Capital Inc. Add +2.1% 0.01% 0.00
CGMU Cap Group Municipal Income Add +1.1% 0.02% −0.00
LDUR PIMCO Enhanced Low Duration Add +0.6% 0.04% −0.00
EAGG iShares ESG Aware US Aggrega Add +2.4% 0.18% −0.00
MUNI PIMCO Intermediate Municipal Add +0.0% 0.12% −0.00
SCHO Schwab Short-Term US Treas Add +1.4% 0.17% −0.01
NEAR iShares SH Dba ETF Usd Inc. Add +0.1% 0.26% −0.01
AGG iShares Core U.S. Aggregate Add +3.1% 2.35% −0.03
BOND PIMCO Active Bond Exchange-T Add +0.2% 1.75% −0.07
VGIT Vanguard Intermediate-Term T Add +1.7% 2.39% −0.08

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 214$3.3BVOO, EFA, SPY, VNQ, SPYM
Q1 2026 204$3.0BVOO, EFA, SPY, VWO, IJH
Q4 2025 197$2.9BVOO, EFA, SPY, VWO, IJH
Q3 2025 199$2.8BVOO, EFA, SPY, VWO, VNQ
Q2 2025 202$2.7BVOO, EFA, SPY, VWO, IJH
Q1 2025 194$2.4BVOO, EFA, SPY, VWO, IJH
Q4 2024 188$2.4BVOO, SPY, EFA, VWO, IWM
Q3 2024 195$2.4BVOO, EFA, SPY, VWO, IWM
Q2 2024 189$2.2BVOO, SPY, EFA, VWO, IWM
Q1 2024 162$2.1BVOO, EFA, SPY, IJH, IWM