Sepio Capital, LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Sepio Capital, LP reported 291 stock positions worth $1.2 billion. Its top holding was Bushido Cap US Equity ETF (SMRI) at 15.5% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 7.2%) and Vanguard Ftse Developed ETF (VEA, 3.6%). Compared with Q3 2024, it opened 17 new positions, sold out of 21, added to 72 and reduced 171. The biggest buy was Bill (BILL, shares +414%) and the biggest sale Bushido Cap US Equity ETF (SMRI, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- Salt Lake City, UT
- CIK
- 0001751412
- Portfolio Value
- $1.2B (Q4 2024)
- SEC Filing
- 0001172661-25-000722 ↗ filed Feb 13, 2025
Holdings Value
Holdings 291 stocks · $1.2B
| SMRI Bushido Cap US Equity ETF | 15.48% | 6,580,666 | $193.4M | Reduce -13.7% |
| VOO Vanguard S&P 500 ETF | 7.25% | 168,115 | $90.6M | Reduce -1.1% |
| VEA Vanguard Ftse Developed ETF | 3.64% | 950,795 | $45.5M | Reduce -17.0% |
| BILL Bill Holdings Inc. | 3.57% | 526,396 | $44.6M | Add +413.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 3.23% | 238,343 | $40.4M | Add +6.1% |
| ABBV Abbvie Inc. | 2.38% | 167,373 | $29.7M | Reduce -18.5% |
| VWO Vanguard Ftse Emerging Marke | 2.23% | 631,771 | $27.8M | Add +2.8% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 2.03% | 127,795 | $25.3M | Add +2.5% |
| ABT Abbott Laboratories | 1.96% | 216,075 | $24.4M | Reduce -5.9% |
| TSLA Tesla Inc. | 1.86% | 57,593 | $23.3M | Add +0.1% |
| MSFT Microsoft Corp. | 1.84% | 54,432 | $22.9M | Add +0.1% |
| ICOW Pacer Developed Markets Inte | 1.80% | 772,071 | $22.5M | Add +0.1% |
| NVDA Nvidia Corp. | 1.69% | 156,825 | $21.1M | Reduce -28.8% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 1.56% | 120,612 | $19.5M | Add +35.3% |
| META Meta Platforms Inc. Class A | 1.54% | 32,809 | $19.2M | Reduce -1.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.44% | 30,746 | $18.0M | Reduce -19.2% |
| AMZN Amazon.com Inc. | 1.40% | 79,596 | $17.5M | Reduce -15.3% |
| AAPL Apple Inc. | 1.18% | 59,038 | $14.8M | Reduce -14.6% |
| ACWI iShares MSCI Acwi ETF | 1.14% | 121,601 | $14.3M | Reduce -2.1% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.14% | 53,944 | $14.2M | Add +31.9% |
| GOOGL Alphabet Inc. Class A | 1.05% | 69,517 | $13.2M | Reduce -1.7% |
| XLK SS Technology Select Sector | 1.02% | 54,570 | $12.7M | Reduce -5.9% |
| GOOG Alphabet Inc. Class C | 1.01% | 66,391 | $12.6M | Reduce -2.8% |
| RSP Invesco S&P 500 Equal Weight | 0.96% | 68,109 | $11.9M | Add +7.0% |
| COWZ Pacer US Cash Cows 100 ETF | 0.77% | 169,597 | $9.6M | Reduce -17.6% |
| V Visa Inc. Class A | 0.77% | 30,292 | $9.6M | Reduce -0.7% |
| NFLX Netflix Inc. | 0.72% | 10,132 | $9.0M | Reduce -1.8% |
| IWB iShares Russell 1000 ETF | 0.69% | 26,745 | $8.6M | Reduce -0.0% |
| VFLO Victoryshares Free Cash Flow | 0.63% | 232,166 | $7.9M | Add +33.2% |
| IJS iShares S&P Small-Cap 600 Va | 0.58% | 66,682 | $7.2M | Add +5.8% |
| ORCL Oracle Corp. | 0.57% | 42,882 | $7.1M | Add +1.5% |
| BA The Boeing Co. | 0.53% | 37,546 | $6.6M | Add +4.1% |
| SGOV iShares 0-3 Month Treasury B | 0.52% | 64,500 | $6.5M | New |
| IWD iShares Russell 1000 Value E | 0.50% | 33,640 | $6.2M | Reduce -2.1% |
| GVI iShares Intermediate Governm | 0.48% | 57,693 | $6.0M | Reduce -2.3% |
| XLV SS Health Care Select Sector | 0.44% | 39,870 | $5.5M | Reduce -2.6% |
| EFA iShares MSCI Eafe ETF | 0.43% | 70,483 | $5.3M | Reduce -1.1% |
| BLK BlackRock Inc. | 0.42% | 5,170 | $5.3M | Reduce -4.1% |
| APD Air Products & Chemicals Inc. | 0.41% | 17,752 | $5.1M | Reduce -5.3% |
| CRM Salesforce Inc. | 0.41% | 15,296 | $5.1M | Reduce -3.2% |
| VTIP Vanguard Short-Term Tips | 0.40% | 104,461 | $5.1M | Reduce -1.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.39% | 10,698 | $4.8M | Reduce -8.0% |
| COST Costco Wholesale Corp. | 0.38% | 5,239 | $4.8M | Reduce -1.9% |
| SBUX Starbucks Corp. | 0.37% | 51,325 | $4.7M | Reduce -2.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.37% | 41,632 | $4.6M | Reduce -1.5% |
| SHOP Shopify Inc. Class A | 0.36% | 42,455 | $4.5M | Reduce -0.3% |
| PM Philip Morris International | 0.34% | 35,648 | $4.3M | Reduce -5.5% |
| IVV iShares Core S&P 500 ETF | 0.34% | 7,271 | $4.3M | Add +11.0% |
| HMOP Hartford Municipal Opp ETF | 0.34% | 109,216 | $4.2M | Add +1.3% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.33% | 83,246 | $4.2M | Reduce -7.8% |
| IWF iShares Russell 1000 Growth | 0.33% | 10,325 | $4.1M | Reduce -51.3% |
| GLD SPDR Gold Shares | 0.33% | 16,975 | $4.1M | Add +0.5% |
| TXN Texas Instruments Inc. | 0.33% | 21,757 | $4.1M | Reduce -4.1% |
| CVX Chevron Corp. | 0.32% | 27,510 | $4.0M | Reduce -3.3% |
| ADSK Autodesk Inc. | 0.30% | 12,749 | $3.8M | Reduce -0.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.30% | 7,350 | $3.8M | Reduce -4.0% |
| PGR Progressive Corp. | 0.30% | 15,612 | $3.7M | Reduce -7.6% |
| IAU iShares Gold Trust | 0.30% | 75,188 | $3.7M | No change |
| MNST Monster Beverage Corp. | 0.29% | 69,820 | $3.7M | Reduce -0.5% |
| LOW Lowe's Cos Inc. | 0.29% | 14,588 | $3.6M | Reduce -6.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.28% | 14,564 | $3.5M | Reduce -1.4% |
| QQQM Invesco Nasdaq 100 ETF | 0.28% | 16,605 | $3.5M | Add +90.5% |
| IVE iShares S&P 500 Value ETF | 0.28% | 18,159 | $3.5M | Reduce -48.4% |
| JNJ Johnson & Johnson | 0.28% | 23,813 | $3.4M | Reduce -5.0% |
| RTX RTX Corp. | 0.27% | 28,770 | $3.3M | Reduce -0.1% |
| SCHW Schwab (charles) Corp. | 0.27% | 44,914 | $3.3M | Reduce -8.0% |
| MDY State Street SPDR S&P Midcap | 0.26% | 5,810 | $3.3M | Reduce -7.8% |
| TBF Proshares Short 20+ Treasury | 0.26% | 131,400 | $3.2M | No change |
| NSC Norfolk Southern Corp. | 0.25% | 13,494 | $3.2M | Reduce -6.2% |
| SEIC Sei Investments Company | 0.25% | 37,917 | $3.1M | Reduce -4.3% |
| MATX Matson Inc. | 0.25% | 23,151 | $3.1M | No change |
| NET Cloudflare Inc. Class A | 0.24% | 28,356 | $3.1M | Add +4.2% |
| IMVP Invesco India Exchange-Trade | 0.24% | 116,399 | $3.0M | Add +7.5% |
| UNH Unitedhealth Group Inc. | 0.24% | 5,871 | $3.0M | Reduce -3.3% |
| GREK Global X MSCI Greece ETF | 0.24% | 76,335 | $3.0M | Reduce -0.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.24% | 8,631 | $3.0M | Add +3.1% |
| FIS Fidelity National Info Serv | 0.23% | 35,926 | $2.9M | Reduce -5.7% |
| PAYX Paychex Inc. | 0.23% | 20,602 | $2.9M | Reduce -3.1% |
| EPOL iShares MSCI Poland ETF | 0.23% | 137,889 | $2.9M | Add +3.6% |
| COIN Coinbase Global Inc. Class A | 0.23% | 11,480 | $2.9M | Add +1.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.23% | 7,049 | $2.8M | Add +0.3% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.22% | 47,901 | $2.8M | Reduce -1.6% |
| FBTC Fidelity Wise Origin Bitcoin | 0.22% | 33,925 | $2.8M | Reduce -14.0% |
| CSCO Cisco Systems Inc. | 0.22% | 46,731 | $2.8M | Reduce -9.3% |
| IJR iShares Core S&P Small-Cap E | 0.22% | 23,742 | $2.7M | Reduce -3.7% |
| QCOM Qualcomm Inc. | 0.21% | 17,478 | $2.7M | Reduce -10.8% |
| ICE Intercontinental Exchange Inc. | 0.21% | 17,789 | $2.7M | Reduce -3.6% |
| GDDY GoDaddy Inc. Class A | 0.21% | 13,421 | $2.6M | Reduce -2.6% |
| MRK Merck & Co. Inc. | 0.21% | 26,569 | $2.6M | Reduce -3.7% |
| NOC Northrop Grumman Corp. | 0.21% | 5,618 | $2.6M | Reduce -5.3% |
| MA Mastercard Inc. Class A | 0.21% | 4,874 | $2.6M | Reduce -4.0% |
| SYY Sysco Corp. | 0.20% | 33,437 | $2.6M | Reduce -2.0% |
| FAST Fastenal Co. | 0.20% | 35,208 | $2.5M | Reduce -5.6% |
| D Dominion Energy Inc. | 0.20% | 46,768 | $2.5M | Add +24.8% |
| EWX State Street SPDR S&P Emergi | 0.20% | 42,793 | $2.5M | Add +0.2% |
| NVR NVR Inc. | 0.20% | 299 | $2.4M | Reduce -8.0% |
| IWM iShares Russell 2000 ETF | 0.19% | 10,996 | $2.4M | No change |
| CSL Carlisle Cos Inc. | 0.19% | 6,582 | $2.4M | Reduce -7.1% |
| DEO Diageo PLC-Sponsored ADR | 0.19% | 18,624 | $2.4M | Reduce -4.8% |
| XLP SS Consumer Staples Sel Sect | 0.18% | 28,770 | $2.3M | Add +0.0% |
Portfolio Sells Q3 2024 → Q4 2024
| SMRI Bushido Cap US Equity ETF | Reduce -13.7% | 15.48% | −2.67 |
| VEA Vanguard Ftse Developed ETF | Reduce -17.0% | 3.64% | −1.07 |
| ABBV Abbvie Inc. | Reduce -18.5% | 2.38% | −0.78 |
| NVDA Nvidia Corp. | Reduce -28.8% | 1.69% | −0.40 |
| IWF iShares Russell 1000 Growth | Reduce -51.3% | 0.33% | −0.29 |
| IVE iShares S&P 500 Value ETF | Reduce -48.4% | 0.28% | −0.26 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -19.2% | 1.44% | −0.26 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -17.6% | 0.77% | −0.16 |
| EWN iShares MSCI Netherlands ETF | Sold out | 0.00% | −0.11 |
| CCI Crown Castle Inc. | Reduce -37.4% | 0.09% | −0.09 |
| ABT Abbott Laboratories | Reduce -5.9% | 1.96% | −0.08 |
| CERS Cerus Corp. | Reduce -43.9% | 0.08% | −0.08 |
| LKQ LKQ Corp. | Reduce -47.1% | 0.08% | −0.08 |
| AAPL Apple Inc. | Reduce -14.6% | 1.18% | −0.07 |
| REGN Regeneron Pharmaceuticals | Reduce -0.2% | 0.15% | −0.06 |
| TFX Teleflex Inc. | Reduce -38.5% | 0.05% | −0.06 |
| TGT Target Corp. | Reduce -53.1% | 0.04% | −0.06 |
| CMCSA Comcast Corp. Class A | Reduce -26.4% | 0.12% | −0.05 |
| CSL Carlisle Cos Inc. | Reduce -7.1% | 0.19% | −0.05 |
| NVR NVR Inc. | Reduce -8.0% | 0.20% | −0.05 |
| XLV SS Health Care Select Sector | Reduce -2.6% | 0.44% | −0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -0.7% | 0.14% | −0.05 |
| QCOM Qualcomm Inc. | Reduce -10.8% | 0.21% | −0.04 |
| CACI Caci International Inc. Class A | Reduce -7.1% | 0.14% | −0.04 |
| VIG Vanguard Dividend Apprec ETF | Reduce -24.2% | 0.14% | −0.04 |
| JNJ Johnson & Johnson | Reduce -5.0% | 0.28% | −0.04 |
| ETHE Grayscale Ethereum Staking E | Reduce -74.7% | 0.02% | −0.04 |
| LOW Lowe's Cos Inc. | Reduce -6.1% | 0.29% | −0.04 |
| ENSG The Ensign Group Inc. | Sold out | 0.00% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -3.3% | 0.24% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -4.1% | 0.33% | −0.04 |
| EFA iShares MSCI Eafe ETF | Reduce -1.1% | 0.43% | −0.04 |
| DLB Dolby Laboratories Inc. Class A | Reduce -38.1% | 0.07% | −0.04 |
| PGR Progressive Corp. | Reduce -7.6% | 0.30% | −0.03 |
| NOC Northrop Grumman Corp. | Reduce -5.3% | 0.21% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -3.7% | 0.21% | −0.03 |
| IYR iShares US Real Estate ETF | Sold out | 0.00% | −0.03 |
| ISHARES 25+ YR TREAS STRIPS | Sold out | 0.00% | −0.03 |
| BAH Booz Allen Hamilton Holdings | Reduce -1.7% | 0.11% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -8.0% | 0.39% | −0.03 |
| EXPD Expeditors Intl Wash Inc. | Reduce -5.2% | 0.12% | −0.03 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -7.8% | 0.33% | −0.03 |
| NSIT Insight Enterprises Inc. | Sold out | 0.00% | −0.03 |
| NSC Norfolk Southern Corp. | Reduce -6.2% | 0.25% | −0.02 |
| DEO Diageo PLC-Sponsored ADR | Reduce -4.8% | 0.19% | −0.02 |
| SBUX Starbucks Corp. | Reduce -2.0% | 0.37% | −0.02 |
| CPNG Coupang Inc. | Reduce -7.2% | 0.13% | −0.02 |
| APD Air Products & Chemicals Inc. | Reduce -5.3% | 0.41% | −0.02 |
| CMG Chipotle Mexican Grill Inc. | Reduce -47.4% | 0.03% | −0.02 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| BILL Bill Holdings Inc. | Add +413.7% | 3.57% | +3.15 |
| TSLA Tesla Inc. | Add +0.1% | 1.86% | +0.69 |
| SGOV iShares 0-3 Month Treasury B | New | 0.52% | +0.52 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +35.3% | 1.56% | +0.40 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +31.9% | 1.14% | +0.30 |
| VFLO Victoryshares Free Cash Flow | Add +33.2% | 0.63% | +0.18 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +6.1% | 3.23% | +0.18 |
| QQQM Invesco Nasdaq 100 ETF | Add +90.5% | 0.28% | +0.14 |
| MSTR Strategy Inc. | Add +196.8% | 0.14% | +0.11 |
| EWS iShares MSCI Singapore ETF | New | 0.11% | +0.11 |
| FETH Fidelity Ethereum Fund | New | 0.11% | +0.11 |
| BA The Boeing Co. | Add +4.1% | 0.53% | +0.10 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +2.5% | 2.03% | +0.08 |
| NET Cloudflare Inc. Class A | Add +4.2% | 0.24% | +0.07 |
| COIN Coinbase Global Inc. Class A | Add +1.1% | 0.23% | +0.07 |
| RSP Invesco S&P 500 Equal Weight | Add +7.0% | 0.96% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +127.0% | 0.08% | +0.06 |
| NCNO Ncino Inc. | Add +42.5% | 0.16% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +3.1% | 0.24% | +0.05 |
| IJS iShares S&P Small-Cap 600 Va | Add +5.8% | 0.58% | +0.05 |
| IBIT iShares Bitcoin Trust ETF | New | 0.05% | +0.05 |
| IVV iShares Core S&P 500 ETF | Add +11.0% | 0.34% | +0.05 |
| IWR iShares Russell Mid-Cap ETF | New | 0.04% | +0.04 |
| PZA Invesco National Amt-Free Mu | New | 0.03% | +0.03 |
| D Dominion Energy Inc. | Add +24.8% | 0.20% | +0.03 |
| OKLO Oklo Inc. | Add +38.1% | 0.04% | +0.03 |
| IJJ iShares S&P Mid-Cap 400 Valu | New | 0.03% | +0.03 |
| HD Home Depot Inc. | New | 0.03% | +0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +62.8% | 0.06% | +0.03 |
| LVHD Franklin U.S. Low Volatility | New | 0.02% | +0.02 |
| EDV Vanguard Extended Dur Treas | New | 0.02% | +0.02 |
| VIGI Vanguard Int Div App Indx FD | New | 0.02% | +0.02 |
| DIVO Amplify CWP Enhan Divid ETF | New | 0.02% | +0.02 |
| ETHA iShares Ethereum Trust ETF | New | 0.02% | +0.02 |
| EMR Emerson Electric Co. | New | 0.02% | +0.02 |
| ZS Zscaler Inc. | Add +5.7% | 0.13% | +0.02 |
| TQQQ Proshares Ultrapro QQQ | New | 0.02% | +0.02 |
| MSFT Microsoft Corp. | Add +0.1% | 1.84% | +0.01 |
| AVGO Broadcom Inc. | Add +27.8% | 0.03% | +0.01 |
| MARA Mara Holdings Inc. | New | 0.01% | +0.01 |
| ORCL Oracle Corp. | Add +1.5% | 0.57% | +0.01 |
| WDAY Workday Inc. Class A | Add +3.2% | 0.10% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +4.8% | 0.05% | +0.01 |
| GLD SPDR Gold Shares | Add +0.5% | 0.33% | +0.01 |
| SCHD Schwab US DVD Equity ETF | Add +54.1% | 0.03% | +0.01 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +8.1% | 0.06% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +45.5% | 0.03% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.2% | 0.14% | +0.01 |
| HMOP Hartford Municipal Opp ETF | Add +1.3% | 0.34% | +0.01 |
| ULTA Ulta Beauty Inc. | Add +0.1% | 0.05% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 346 | $2.0B | SMRI, RNIN, VOO, VEA, VWO |
| Q1 2026 | 369 | $1.8B | SMRI, RNIN, VOO, VEA, VWO |
| Q4 2025 | 362 | $1.8B | SMRI, RNIN, VOO, VEA, VWO |
| Q3 2025 | 312 | $1.7B | SMRI, RNIN, VOO, VEA, VTV |
| Q2 2025 | 274 | $1.4B | SMRI, RNIN, VOO, VEA, ABBV |
| Q1 2025 | 287 | $1.3B | SMRI, VOO, VEA, ABBV, VTV |
| Q4 2024 | 291 | $1.2B | SMRI, VOO, VEA, BILL, VTV |
| Q3 2024 | 295 | $1.3B | SMRI, VOO, VEA, ABBV, VTV |
| Q2 2024 | 276 | $1.1B | SMRI, VOO, VEA, VTV, MSFT |
| Q1 2024 | 284 | $1.2B | SMRI, VOO, VEA, VTV, ABBV |