Sepio Capital, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Sepio Capital, LP reported 362 stock positions worth $1.8 billion. Its top holding was Bushido Cap US Equity ETF (SMRI) at 26.0% of the portfolio, followed by Bushido Cap Smid C Eqty ETF (RNIN, 6.9%) and Vanguard S&P 500 ETF (VOO, 6.2%). Compared with Q3 2025, it opened 67 new positions, sold out of 17, added to 154 and reduced 119. The biggest buy was a new position in Cambria Emerg Shrhldr Yield (EYLD) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −27%).
- Most Recent 13F
- Q2 2026
- Location
- Salt Lake City, UT
- CIK
- 0001751412
- Portfolio Value
- $1.8B (Q4 2025)
- SEC Filing
- 0001172661-26-000651 ↗ filed Feb 12, 2026
Holdings Value
Holdings 362 stocks · $1.8B
| SMRI Bushido Cap US Equity ETF | 25.95% | 13,121,221 | $474.2M | Add +0.8% |
| RNIN Bushido Cap Smid C Eqty ETF | 6.88% | 4,552,049 | $125.7M | Add +3.6% |
| VOO Vanguard S&P 500 ETF | 6.17% | 179,859 | $112.8M | Add +6.4% |
| VEA Vanguard Ftse Developed ETF | 3.55% | 1,036,937 | $64.8M | Add +2.0% |
| VWO Vanguard Ftse Emerging Marke | 1.91% | 648,693 | $34.9M | Add +3.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.90% | 181,516 | $34.7M | Reduce -8.5% |
| ICOW Pacer Developed Markets Inte | 1.86% | 877,216 | $33.9M | Add +2.1% |
| MSFT Microsoft Corp. | 1.72% | 64,935 | $31.4M | Add +12.9% |
| NVDA Nvidia Corp. | 1.61% | 157,879 | $29.4M | Add +5.2% |
| ABBV Abbvie Inc. | 1.57% | 125,915 | $28.8M | Reduce -6.7% |
| AAPL Apple Inc. | 1.38% | 92,967 | $25.3M | Add +17.9% |
| TSLA Tesla Inc. | 1.31% | 53,333 | $24.0M | Reduce -0.3% |
| META Meta Platforms Inc. Class A | 1.30% | 36,076 | $23.8M | Add +5.0% |
| AMZN Amazon.com Inc. | 1.22% | 96,860 | $22.4M | Add +11.8% |
| GOOGL Alphabet Inc. Class A | 1.18% | 68,647 | $21.5M | Add +8.8% |
| VFLO Victoryshares Free Cash Flow | 1.17% | 542,170 | $21.4M | Add +0.6% |
| RSP Invesco S&P 500 Equal Weight | 1.17% | 111,305 | $21.3M | Add +4.7% |
| ABT Abbott Laboratories | 1.11% | 162,428 | $20.4M | Reduce -5.5% |
| GOOG Alphabet Inc. Class C | 1.06% | 62,004 | $19.5M | Reduce -7.0% |
| ACWI iShares MSCI Acwi ETF | 1.05% | 135,697 | $19.2M | Reduce -4.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.95% | 68,595 | $17.3M | Add +9.9% |
| EYLD Cambria Emerg Shrhldr Yield | 0.78% | 373,463 | $14.3M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.78% | 20,885 | $14.2M | Reduce -26.9% |
| XLK SS Technology Select Sector | 0.74% | 94,522 | $13.6M | Reduce -10.1% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.67% | 68,962 | $12.2M | Add +1.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.66% | 19,775 | $12.1M | Add +19.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.62% | 53,832 | $11.4M | Add +0.9% |
| V Visa Inc. Class A | 0.61% | 31,823 | $11.2M | Add +7.6% |
| IWF iShares Russell 1000 Growth | 0.56% | 21,572 | $10.2M | Add +165.4% |
| IWB iShares Russell 1000 ETF | 0.56% | 27,155 | $10.1M | No change |
| GVI iShares Intermediate Governm | 0.48% | 80,937 | $8.7M | Reduce -0.7% |
| NFLX Netflix Inc. | 0.47% | 90,704 | $8.5M | Reduce -3.0% |
| VTIP Vanguard Short-Term Tips | 0.46% | 170,915 | $8.5M | Reduce -0.2% |
| IWD iShares Russell 1000 Value E | 0.44% | 38,615 | $8.1M | Add +381.7% |
| BA The Boeing Co. | 0.44% | 37,065 | $8.0M | Add +0.5% |
| ORCL Oracle Corp. | 0.43% | 39,957 | $7.8M | Reduce -1.3% |
| GLD SPDR Gold Shares | 0.42% | 19,417 | $7.7M | Add +8.6% |
| IVV iShares Core S&P 500 ETF | 0.38% | 10,240 | $7.0M | Add +584.5% |
| EFA iShares MSCI Eafe ETF | 0.38% | 71,372 | $6.9M | Add +0.5% |
| SHOP Shopify Inc. Class A | 0.36% | 40,752 | $6.6M | Add +0.7% |
| BLK BlackRock Inc. | 0.34% | 5,751 | $6.2M | Add +20.9% |
| IAU iShares Gold Trust | 0.33% | 74,908 | $6.1M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.33% | 11,964 | $6.0M | Add +18.5% |
| NET Cloudflare Inc. Class A | 0.32% | 29,924 | $5.9M | Add +2.2% |
| HMOP Hartford Municipal Opp ETF | 0.30% | 141,085 | $5.5M | Add +11.1% |
| COST Costco Wholesale Corp. | 0.30% | 6,315 | $5.4M | Add +17.8% |
| CVX Chevron Corp. | 0.30% | 35,723 | $5.4M | Add +8.5% |
| BILL Bill Holdings Inc. | 0.29% | 96,492 | $5.3M | No change |
| SMMD iShares Russell 2500 ETF | 0.28% | 67,359 | $5.0M | New |
| GREK Global X MSCI Greece ETF | 0.27% | 75,367 | $5.0M | Reduce -0.1% |
| GLW Corning Inc. | 0.27% | 56,164 | $4.9M | Reduce -1.9% |
| AVGO Broadcom Inc. | 0.27% | 14,121 | $4.9M | Add +142.4% |
| EPOL iShares MSCI Poland ETF | 0.26% | 135,823 | $4.8M | Add +3.1% |
| JNJ Johnson & Johnson | 0.26% | 23,068 | $4.8M | Reduce -0.2% |
| ANGX Angel Studios Inc. | 0.26% | 1,017,192 | $4.8M | Add +24.6% |
| MNST Monster Beverage Corp. | 0.26% | 61,769 | $4.7M | Reduce -0.8% |
| UNH Unitedhealth Group Inc. | 0.26% | 14,305 | $4.7M | Add +106.7% |
| XLV SS Health Care Select Sector | 0.25% | 29,427 | $4.6M | Reduce -20.9% |
| IWM iShares Russell 2000 ETF | 0.25% | 18,454 | $4.5M | Add +475.6% |
| NSC Norfolk Southern Corp. | 0.24% | 15,484 | $4.5M | Reduce -3.7% |
| CSCO Cisco Systems Inc. | 0.24% | 57,291 | $4.4M | Add +24.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 38,328 | $4.4M | Add +13.2% |
| IBIT iShares Bitcoin Trust ETF | 0.24% | 87,610 | $4.3M | Add +91.8% |
| SBUX Starbucks Corp. | 0.23% | 50,249 | $4.2M | Add +6.9% |
| CRM Salesforce Inc. | 0.23% | 15,937 | $4.2M | Add +5.5% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.23% | 8,847 | $4.1M | Add +2.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.22% | 8,865 | $4.0M | Reduce -2.2% |
| PM Philip Morris International | 0.22% | 24,732 | $4.0M | Reduce -4.2% |
| SCHW Schwab (charles) Corp. | 0.21% | 38,865 | $3.9M | Reduce -3.4% |
| JPM JPMorgan Chase & Co. | 0.21% | 11,854 | $3.8M | Add +99.8% |
| ADSK Autodesk Inc. | 0.20% | 12,641 | $3.7M | Add +0.5% |
| TXN Texas Instruments Inc. | 0.20% | 21,042 | $3.7M | Add +7.1% |
| MDY State Street SPDR S&P Midcap | 0.19% | 5,810 | $3.5M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.19% | 11,525 | $3.5M | Reduce -1.7% |
| PGR Progressive Corp. | 0.19% | 15,259 | $3.5M | Add +5.3% |
| MA Mastercard Inc. Class A | 0.19% | 6,002 | $3.4M | Add +22.3% |
| QCOM Qualcomm Inc. | 0.19% | 19,953 | $3.4M | Add +31.6% |
| FBTC Fidelity Wise Origin Bitcoin | 0.18% | 44,044 | $3.4M | Reduce -0.3% |
| RTX RTX Corp. | 0.18% | 18,049 | $3.3M | Reduce -17.0% |
| TEL Te Connectivity PLC | 0.18% | 14,343 | $3.3M | Reduce -0.6% |
| LOW Lowe's Cos Inc. | 0.18% | 13,280 | $3.2M | Reduce -1.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.17% | 10,973 | $3.2M | Add +3.5% |
| APD Air Products & Chemicals Inc. | 0.17% | 12,804 | $3.2M | Reduce -17.3% |
| D Dominion Energy Inc. | 0.17% | 53,903 | $3.2M | Reduce -4.8% |
| CMI Cummins Inc. | 0.17% | 6,133 | $3.1M | New |
| COIN Coinbase Global Inc. Class A | 0.17% | 13,789 | $3.1M | Add +3.6% |
| REGN Regeneron Pharmaceuticals | 0.16% | 3,901 | $3.0M | Reduce -2.0% |
| PLTR Palantir Technologies Inc. Class A | 0.16% | 16,917 | $3.0M | Add +3.1% |
| TBF Proshares Short 20+ Treasury | 0.16% | 124,300 | $3.0M | Reduce -5.3% |
| EWX State Street SPDR S&P Emergi | 0.16% | 44,128 | $2.9M | Add +3.8% |
| EWS iShares MSCI Singapore ETF | 0.16% | 105,156 | $2.9M | Add +2.2% |
| IJR iShares Core S&P Small-Cap E | 0.16% | 23,932 | $2.9M | Add +50.7% |
| IEMG iShares Core MSCI Emerging | 0.15% | 42,090 | $2.8M | Add +1.1% |
| SYY Sysco Corp. | 0.15% | 37,869 | $2.8M | Reduce -2.1% |
| TMO Thermo Fisher Scientific Inc. | 0.15% | 4,813 | $2.8M | Add +19.6% |
| EWI iShares MSCI Italy ETF | 0.15% | 50,460 | $2.7M | Add +1.0% |
| NOC Northrop Grumman Corp. | 0.15% | 4,805 | $2.7M | Reduce -3.6% |
| SEIC Sei Investments Company | 0.15% | 33,047 | $2.7M | Reduce -1.8% |
| UPBD Upbound Group Inc. | 0.14% | 148,309 | $2.6M | New |
| FAST Fastenal Co. | 0.14% | 64,638 | $2.6M | Add +2.0% |
Portfolio Sells Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -26.9% | 0.78% | −0.35 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -8.5% | 1.90% | −0.29 |
| ABBV Abbvie Inc. | Reduce -6.7% | 1.57% | −0.27 |
| ABT Abbott Laboratories | Reduce -5.5% | 1.11% | −0.25 |
| ORCL Oracle Corp. | Reduce -1.3% | 0.43% | −0.25 |
| NFLX Netflix Inc. | Reduce -3.0% | 0.47% | −0.20 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.14 |
| XLK SS Technology Select Sector | Reduce -10.1% | 0.74% | −0.13 |
| ACWI iShares MSCI Acwi ETF | Reduce -4.3% | 1.05% | −0.11 |
| TSLA Tesla Inc. | Reduce -0.3% | 1.31% | −0.10 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.09 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -34.4% | 0.13% | −0.08 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -0.3% | 0.18% | −0.08 |
| APD Air Products & Chemicals Inc. | Reduce -17.3% | 0.17% | −0.08 |
| XLV SS Health Care Select Sector | Reduce -20.9% | 0.25% | −0.06 |
| CSL Carlisle Cos Inc. | Reduce -67.1% | 0.02% | −0.05 |
| VTIP Vanguard Short-Term Tips | Reduce -0.2% | 0.46% | −0.05 |
| GDDY GoDaddy Inc. Class A | Reduce -62.0% | 0.02% | −0.05 |
| DLB Dolby Laboratories Inc. Class A | Reduce -55.3% | 0.03% | −0.05 |
| VIG Vanguard Dividend Apprec ETF | Reduce -37.0% | 0.07% | −0.05 |
| GVI iShares Intermediate Governm | Reduce -0.7% | 0.48% | −0.04 |
| NSC Norfolk Southern Corp. | Reduce -3.7% | 0.24% | −0.04 |
| SOFI Sofi Technologies Inc. | Reduce -18.8% | 0.12% | −0.04 |
| CCI Crown Castle Inc. | Reduce -35.8% | 0.05% | −0.04 |
| SYY Sysco Corp. | Reduce -2.1% | 0.15% | −0.04 |
| LKQ LKQ Corp. | Reduce -49.5% | 0.03% | −0.04 |
| RTX RTX Corp. | Reduce -17.0% | 0.18% | −0.03 |
| MO Altria Group Inc. | Reduce -3.2% | 0.12% | −0.03 |
| NKE Nike Inc. Class B | Reduce -29.0% | 0.05% | −0.03 |
| D Dominion Energy Inc. | Reduce -4.8% | 0.17% | −0.03 |
| PM Philip Morris International | Reduce -4.2% | 0.22% | −0.03 |
| NOC Northrop Grumman Corp. | Reduce -3.6% | 0.15% | −0.03 |
| WRB WR Berkley Corp. | Reduce -22.9% | 0.06% | −0.03 |
| ATR Aptargroup Inc. | Reduce -39.3% | 0.03% | −0.03 |
| QXO Qxo Inc. | Sold out | 0.00% | −0.03 |
| BAH Booz Allen Hamilton Holdings | Reduce -22.7% | 0.04% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -27.2% | 0.04% | −0.03 |
| VGSH Vanguard Short-Term Treasury | Reduce -21.2% | 0.07% | −0.03 |
| TFX Teleflex Inc. | Reduce -52.2% | 0.02% | −0.03 |
| LII Lennox International Inc. | Reduce -52.3% | 0.02% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -1.4% | 0.18% | −0.03 |
| VOX Vanguard Communication Servi | Sold out | 0.00% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -34.3% | 0.04% | −0.02 |
| CHH Choice Hotels Intl Inc. | Reduce -25.1% | 0.04% | −0.02 |
| NSIT Insight Enterprises Inc. | Sold out | 0.00% | −0.02 |
| WEX Wex Inc. | Reduce -25.0% | 0.04% | −0.02 |
| MORN Morningstar Inc. | Reduce -28.9% | 0.03% | −0.02 |
| DOCN Digitalocean Holdings Inc. | Sold out | 0.00% | −0.02 |
| BSY Bentley Systems Inc. Class B | Sold out | 0.00% | −0.02 |
| SEIC Sei Investments Company | Reduce -1.8% | 0.15% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| EYLD Cambria Emerg Shrhldr Yield | New | 0.78% | +0.78 |
| IWD iShares Russell 1000 Value E | Add +381.7% | 0.44% | +0.35 |
| IWF iShares Russell 1000 Growth | Add +165.4% | 0.56% | +0.33 |
| IVV iShares Core S&P 500 ETF | Add +584.5% | 0.38% | +0.32 |
| SMMD iShares Russell 2500 ETF | New | 0.28% | +0.28 |
| GOOGL Alphabet Inc. Class A | Add +8.8% | 1.18% | +0.27 |
| IWM iShares Russell 2000 ETF | Add +475.6% | 0.25% | +0.20 |
| AAPL Apple Inc. | Add +17.9% | 1.38% | +0.20 |
| CMI Cummins Inc. | New | 0.17% | +0.17 |
| AVGO Broadcom Inc. | Add +142.4% | 0.27% | +0.15 |
| UPBD Upbound Group Inc. | New | 0.14% | +0.14 |
| RNR Renaissancere Holdings Ltd. | New | 0.13% | +0.13 |
| IWR iShares Russell Mid-Cap ETF | New | 0.13% | +0.13 |
| UNH Unitedhealth Group Inc. | Add +106.7% | 0.26% | +0.12 |
| JPM JPMorgan Chase & Co. | Add +99.8% | 0.21% | +0.10 |
| AMZN Amazon.com Inc. | Add +11.8% | 1.22% | +0.10 |
| QQQ Invesco QQQ Trust Series 1 | Add +19.1% | 0.66% | +0.08 |
| CPNG Coupang Inc. | Add +587.1% | 0.08% | +0.07 |
| UPST Upstart Holdings Inc. | Add +518.0% | 0.08% | +0.06 |
| SOXX iShares Semiconductor ETF | New | 0.06% | +0.06 |
| IBIT iShares Bitcoin Trust ETF | Add +91.8% | 0.24% | +0.06 |
| SCHD Schwab US DVD Equity ETF | New | 0.06% | +0.06 |
| LMT Lockheed Martin Corp. | New | 0.06% | +0.06 |
| CSCO Cisco Systems Inc. | Add +24.4% | 0.24% | +0.06 |
| FDN First Trust DJ Internet Ind | New | 0.05% | +0.05 |
| VEU Vanguard Ftse All-World Ex-U | Add +105.9% | 0.10% | +0.05 |
| AMGN Amgen Inc. | New | 0.05% | +0.05 |
| TJX TJX Companies Inc. | New | 0.05% | +0.05 |
| APH Amphenol Corp. Class A | New | 0.05% | +0.05 |
| MRK Merck & Co. Inc. | Add +108.7% | 0.08% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +6.4% | 6.17% | +0.05 |
| IJR iShares Core S&P Small-Cap E | Add +50.7% | 0.16% | +0.05 |
| GLD SPDR Gold Shares | Add +8.6% | 0.42% | +0.05 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.04% | +0.04 |
| ICLO Invesco Aaa Clo F/R Note ETF | New | 0.04% | +0.04 |
| QCOM Qualcomm Inc. | Add +31.6% | 0.19% | +0.04 |
| QQQM Invesco Nasdaq 100 ETF | Add +9.9% | 0.95% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Add +19.6% | 0.15% | +0.04 |
| IBB iShares Biotechnology ETF | New | 0.04% | +0.04 |
| HON Honeywell International Inc. | Add +112.3% | 0.08% | +0.04 |
| MS Morgan Stanley | Add +85.6% | 0.07% | +0.04 |
| AFL Aflac Inc. | New | 0.03% | +0.03 |
| J Jacobs Solutions Inc. | New | 0.03% | +0.03 |
| ED Consolidated Edison Inc. | New | 0.03% | +0.03 |
| PEP Pepsico Inc. | New | 0.03% | +0.03 |
| PWR Quanta Services Inc. | New | 0.03% | +0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +18.5% | 0.33% | +0.03 |
| MCD McDonald's Corp. | Add +75.1% | 0.07% | +0.03 |
| TGT Target Corp. | New | 0.03% | +0.03 |
| MAIN Main Street Capital Corp. | New | 0.03% | +0.03 |
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 |