Shilanski & Associates, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 20, 2025), Shilanski & Associates, Inc. reported 109 stock positions worth $376.3 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 12.0% of the portfolio, followed by Schwab US Broad Market ETF (SCHB, 8.4%) and Schwab Fndmn Intl LRG Co. ETF (FNDF, 3.8%). Compared with Q2 2025, it opened 29 new positions, sold out of 28, added to 63 and reduced 12. The biggest buy was a new position in HSBC Holdings PLC-Spons ADR (HSBC) and the biggest sale an exit from SS SPDR Ice Pref Sec ETF (PSK).

Most Recent 13F
Q3 2025
Location
ANCHORAGE, AK
CIK
0001722084
Portfolio Value
$376.3M (Q3 2025)
SEC Filing
0002063364-25-000226 ↗ filed Oct 20, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $290.3M Q1 2024 Q2 2024: $297.2M Q2 2024 Q3 2024: $307.7M Q3 2024 Q4 2024: $311.7M Q4 2024 Q1 2025: $320.5M Q1 2025 Q2 2025: $350.0M Q2 2025 Q3 2025: $376.3M $376.3M Q3 2025

Holdings 109 stocks · $376.3M
SPY SS SPDR S&P 500 ETF Trust-US 12.00% 67,803 $45.2M Add +3.2%
SCHB Schwab US Broad Market ETF 8.40% 1,229,744 $31.6M Add +3.0%
FNDF Schwab Fndmn Intl LRG Co. ETF 3.85% 336,871 $14.5M Add +1.5%
SPYG SS SPDR P S&P 500 Growth ETF 3.09% 111,318 $11.6M Add +0.7%
SPHD Invesco S&P 500 High Dividen 3.03% 230,565 $11.4M Add +3.2%
TIP iShares Tips Bond ETF 2.78% 94,206 $10.5M Add +5.6%
JNK SS SPDR BB High Yield Bond 2.78% 106,917 $10.5M Add +6.0%
SPIB SS SPDR P Int C Corp. ETF 2.76% 306,815 $10.4M Add +5.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.72% 36,293 $10.2M Add +28.6%
SRLN SS Blackstone Sr Loan ETF 2.48% 223,982 $9.3M Add +6.8%
FNDC Schwab Fndmnt Intl SM Eq ETF 2.32% 196,313 $8.7M Add +0.2%
MSFT Microsoft Corp. 2.27% 16,463 $8.5M Add +3.1%
NVDA Nvidia Corp. 2.02% 40,808 $7.6M Add +2.4%
MO Altria Group Inc. 1.96% 111,773 $7.4M Add +1.6%
XOM Exxon Mobil Corp. 1.85% 61,756 $7.0M Add +3.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.76% 128,229 $6.6M Add +3.9%
FTSM First Trust Enh Short Mat FD 1.74% 109,128 $6.6M Add +3.9%
CSCO Cisco Systems Inc. 1.70% 93,631 $6.4M Add +1.8%
MMM 3M Co. 1.58% 38,329 $5.9M Add +2.3%
SO The Southern Co. 1.56% 61,841 $5.9M Add +1.0%
PM Philip Morris International 1.55% 36,047 $5.8M Reduce -0.3%
VDE Vanguard Energy ETF 1.44% 43,020 $5.4M Add +4.2%
RY Royal Bank of Canada 1.39% 35,373 $5.2M Add +3.3%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 1.37% 72,432 $5.1M New
TLH iShares 10-20 Year Treasury 1.33% 48,464 $5.0M New
ABBV Abbvie Inc. 1.24% 20,218 $4.7M Reduce -1.0%
KMI Kinder Morgan Inc. 1.22% 161,867 $4.6M Add +3.7%
KO The Coca-Cola Co. 1.22% 68,484 $4.6M Add +0.8%
PG The Procter & Gamble Co. 1.14% 27,982 $4.3M Add +1.7%
RIO Rio Tinto PLC-Spon ADR 1.11% 63,469 $4.2M Add +3.1%
AAPL Apple Inc. 1.09% 16,149 $4.1M Reduce -0.3%
PLTR Palantir Technologies Inc. Class A 0.97% 20,026 $3.7M New
AWK American Water Works Co. Inc. 0.95% 25,726 $3.6M Add +0.2%
VPU Vanguard Utilities ETF 0.93% 18,502 $3.5M Add +2.1%
CW Curtiss-Wright Corp. 0.89% 6,154 $3.3M Add +3.5%
DGRW Wisdomtree U.S. Quality Divi 0.88% 37,170 $3.3M Add +2.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.86% 29,557 $3.2M Add +0.4%
DTM DT Midstream Inc. 0.85% 28,393 $3.2M Add +4.8%
NRG NRG Energy Inc. 0.85% 19,796 $3.2M Add +4.6%
VST Vistra Corp. 0.83% 15,888 $3.1M Add +4.2%
BIZD Vaneck BDC Income ETF 0.83% 207,821 $3.1M Add +2.4%
META Meta Platforms Inc. Class A 0.81% 4,158 $3.1M Add +2.8%
APH Amphenol Corp. Class A 0.81% 24,649 $3.1M New
LMT Lockheed Martin Corp. 0.81% 6,100 $3.0M Add +3.5%
AXON Axon Enterprise Inc. 0.79% 4,121 $3.0M Reduce -39.9%
CEG Constellation Energy 0.68% 7,828 $2.6M Add +3.7%
NEM Newmont Corp. 0.62% 27,609 $2.3M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.57% 18,873 $2.2M New
UAL United Airlines Holdings Inc. 0.57% 22,234 $2.1M Add +3.0%
CAH Cardinal Health Inc. 0.57% 13,555 $2.1M New
MOS The Mosaic Co. 0.54% 58,374 $2.0M New
CRS Carpenter Technology 0.52% 7,898 $1.9M New
GS Goldman Sachs Group Inc. 0.50% 2,342 $1.9M New
EBAY eBay Inc. 0.48% 20,035 $1.8M New
PANW Palo Alto Networks Inc. 0.48% 8,856 $1.8M Add +1.1%
NWS News Corp. Class B 0.48% 51,755 $1.8M Add +3.2%
MCO Moody's Corp. 0.45% 3,549 $1.7M Add +2.3%
IVV iShares Core S&P 500 ETF 0.24% 1,373 $919K Add +3.9%
AVGO Broadcom Inc. 0.21% 2,435 $803K Reduce -0.0%
QQQ Invesco QQQ Trust Series 1 0.16% 1,020 $612K Add +0.1%
AMZN Amazon.com Inc. 0.16% 2,783 $611K No change
CVX Chevron Corp. 0.15% 3,746 $582K Add +0.8%
EMBJ Embraer SA-Spon ADR 0.15% 9,392 $568K Add +1.5%
GOOGL Alphabet Inc. Class A 0.14% 2,151 $523K Add +0.3%
JPM JPMorgan Chase & Co. 0.13% 1,588 $501K Add +0.4%
GFI Gold Fields Ltd.-Spons ADR 0.12% 10,758 $451K New
BBVA Banco Bilbao Vizcaya-SP ADR 0.11% 22,167 $427K Add +1.1%
MUFG Mitsubishi Ufj Finl-Spon ADR 0.11% 26,734 $426K Add +1.5%
JNJ Johnson & Johnson 0.11% 2,260 $419K Reduce -0.1%
HMY Harmony Gold MNG-Spon ADR 0.11% 22,909 $416K Add +3.0%
CYD China Yuchai Intl Ltd. 0.11% 9,645 $399K New
MCD McDonald's Corp. 0.10% 1,276 $388K Add +0.7%
ORCL Oracle Corp. 0.10% 1,377 $387K Add +0.1%
SE Sea Ltd.-ADR 0.10% 2,041 $365K Reduce -0.7%
VZ Verizon Communications Inc. 0.10% 8,146 $358K Add +0.9%
BCS Barclays PLC-Spons ADR 0.09% 16,678 $345K Add +1.0%
VNET Vnet Group Inc.-ADR 0.09% 33,198 $343K Reduce -0.2%
TIGR Up Fintech Holding Ltd. - ADR 0.09% 31,033 $331K Add +5.0%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU 0.08% 13,103 $319K New
SBSW Sibanye-Stillwater Ltd.-ADR 0.08% 27,905 $314K New
SAP Sap SE-Sponsored ADR 0.08% 1,059 $283K Add +0.9%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 0.07% 1,579 $275K New
CX Cemex Sab-Spons ADR Part Cer 0.07% 30,033 $270K New
ALK Alaska Air Group Inc. 0.07% 5,381 $268K Add +1.1%
NFLX Netflix Inc. 0.07% 219 $263K Reduce -0.5%
PDP Invesco Dorsey Wright Moment 0.07% 2,221 $262K No change
ASND Ascendis Pharma A/S 0.07% 1,304 $259K New
KEP Korea Elec Power Corp.-SP ADR 0.07% 19,635 $256K New
RYAAY Ryanair Holdings PLC-SP ADR 0.07% 4,242 $255K New
DUK Duke Energy Corp. 0.07% 2,055 $254K Add +5.7%
VIV Telefonica Brasil-ADR 0.07% 19,787 $252K New
IDCC Interdigital Inc. 0.07% 729 $252K New
MELI MercadoLibre Inc. 0.07% 107 $250K Reduce -0.9%
GRFS Grifols SA-ADR 0.07% 25,044 $249K New
AXP American Express Co. 0.07% 747 $248K No change
TSLA Tesla Inc. 0.07% 555 $247K New
SMFG Sumitomo Mitsui-Spons ADR 0.06% 14,526 $243K Reduce -0.1%
WMT Walmart Inc. 0.06% 2,273 $234K Add +0.0%
IWM iShares Russell 2000 ETF 0.06% 951 $230K No change
UNH Unitedhealth Group Inc. 0.06% 665 $230K Reduce -0.6%
KT KT Corp.-SP ADR 0.06% 11,687 $228K Add +0.1%
PAC Grupo Aeroportuario Pac-ADR 0.06% 919 $218K New
VTI VG Morningstar TS MKT ETF-US 0.06% 661 $218K No change
MRK Merck & Co. Inc. 0.06% 2,563 $215K New
AMGN Amgen Inc. 0.06% 759 $214K Add +0.9%
VEON Veon Ltd. 0.06% 3,932 $214K New
AEG Aegon Ltd.-NY Reg SHR 0.06% 25,930 $207K Add +0.3%
BTI British American Tob-SP ADR 0.05% 3,807 $202K New
KC Kingsoft Cloud Holdings-ADR 0.05% 12,234 $183K New

Portfolio Sells Q2 2025 → Q3 2025
PSK SS SPDR Ice Pref Sec ETF Sold out 0.00% −1.33
AXON Axon Enterprise Inc. Reduce -39.9% 0.79% −0.84
ESAB Esab Corp. Sold out 0.00% −0.69
FICO Fair Isaac Corp. Sold out 0.00% −0.69
TGT Target Corp. Sold out 0.00% −0.69
EVR Evercore Inc. Class A Sold out 0.00% −0.66
BRK.B Berkshire Hathaway Inc. Class B Sold out 0.00% −0.64
LDOS Leidos Holdings Inc. Sold out 0.00% −0.60
AFL Aflac Inc. Sold out 0.00% −0.59
TAP Molson Coors Beverage Co. Class B Sold out 0.00% −0.56
JLL Jones Lang Lasalle Inc. Sold out 0.00% −0.54
LPX Louisiana-Pacific Corp. Sold out 0.00% −0.47
BRBR Bellring Brands Inc. Sold out 0.00% −0.38
OKE Oneok Inc. Sold out 0.00% −0.37
DECK Deckers Outdoor Corp. Sold out 0.00% −0.34
PM Philip Morris International Reduce -0.3% 1.55% −0.33
VRNA Verona Pharma Ltd. Sold out 0.00% −0.18
GGAL Grupo Financiero Galicia-ADR Sold out 0.00% −0.11
QFIN Qfin Holdings Inc.-ADR Sold out 0.00% −0.10
BMA Banco Macro SA-ADR Sold out 0.00% −0.10
YPF YPF S.A.-Sponsored ADR Sold out 0.00% −0.09
UBS UBS Group AG-Reg Sold out 0.00% −0.08
PAM Pampa Energia SA-Spon ADR Sold out 0.00% −0.08
RELX Relx PLC - Spon ADR Sold out 0.00% −0.08
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.07
ERIC Ericsson (lm) Tel-SP ADR Sold out 0.00% −0.07
CHKP Check Point Software Tech Sold out 0.00% −0.06
MMYT Makemytrip Ltd. Sold out 0.00% −0.06
PSO Pearson PLC-Sponsored ADR Sold out 0.00% −0.05
TEVA Teva Pharmaceutical-SP ADR Sold out 0.00% −0.05
NFLX Netflix Inc. Reduce -0.5% 0.07% −0.01
MELI MercadoLibre Inc. Reduce -0.9% 0.07% −0.01
UNH Unitedhealth Group Inc. Reduce -0.6% 0.06% +0.00
SMFG Sumitomo Mitsui-Spons ADR Reduce -0.1% 0.06% +0.00
SE Sea Ltd.-ADR Reduce -0.7% 0.10% +0.00
JNJ Johnson & Johnson Reduce -0.1% 0.11% +0.01
AVGO Broadcom Inc. Reduce -0.0% 0.21% +0.02
VNET Vnet Group Inc.-ADR Reduce -0.2% 0.09% +0.03
AAPL Apple Inc. Reduce -0.3% 1.09% +0.14
ABBV Abbvie Inc. Reduce -1.0% 1.24% +0.16

Portfolio Buys Q2 2025 → Q3 2025
HSBC HSBC Holdings PLC-Spons ADR New 1.37% +1.37
TLH iShares 10-20 Year Treasury New 1.33% +1.33
PLTR Palantir Technologies Inc. Class A New 0.97% +0.97
APH Amphenol Corp. Class A New 0.81% +0.81
NEM Newmont Corp. New 0.62% +0.62
DIS The Walt Disney Co. New 0.57% +0.57
CAH Cardinal Health Inc. New 0.57% +0.57
MOS The Mosaic Co. New 0.54% +0.54
CRS Carpenter Technology New 0.52% +0.52
GS Goldman Sachs Group Inc. New 0.50% +0.50
EBAY eBay Inc. New 0.48% +0.48
SPY SS SPDR S&P 500 ETF Trust-US Add +3.2% 12.00% +0.40
IBM Intl Business Machines Corp. Add +28.6% 2.72% +0.34
SCHB Schwab US Broad Market ETF Add +3.0% 8.40% +0.28
NVDA Nvidia Corp. Add +2.4% 2.02% +0.23
GFI Gold Fields Ltd.-Spons ADR New 0.12% +0.12
CYD China Yuchai Intl Ltd. New 0.11% +0.11
RY Royal Bank of Canada Add +3.3% 1.39% +0.10
BNY Bank of New York Mellon Corp. Add +0.4% 0.86% +0.09
BAC Bank of America Corp. Add +3.9% 1.76% +0.09
RIO Rio Tinto PLC-Spon ADR Add +3.1% 1.11% +0.09
MO Altria Group Inc. Add +1.6% 1.96% +0.09
BVN Cia DE Minas Buenaventur-ADR New 0.08% +0.08
SBSW Sibanye-Stillwater Ltd.-ADR New 0.08% +0.08
SPYG SS SPDR P S&P 500 Growth ETF Add +0.7% 3.09% +0.08
UAL United Airlines Holdings Inc. Add +3.0% 0.57% +0.08
FUTU Futu Holdings Ltd.-ADR New 0.07% +0.07
CX Cemex Sab-Spons ADR Part Cer New 0.07% +0.07
ASND Ascendis Pharma A/S New 0.07% +0.07
KEP Korea Elec Power Corp.-SP ADR New 0.07% +0.07
RYAAY Ryanair Holdings PLC-SP ADR New 0.07% +0.07
VIV Telefonica Brasil-ADR New 0.07% +0.07
IDCC Interdigital Inc. New 0.07% +0.07
GRFS Grifols SA-ADR New 0.07% +0.07
TSLA Tesla Inc. New 0.07% +0.07
PAC Grupo Aeroportuario Pac-ADR New 0.06% +0.06
CW Curtiss-Wright Corp. Add +3.5% 0.89% +0.06
MRK Merck & Co. Inc. New 0.06% +0.06
VEON Veon Ltd. New 0.06% +0.06
BTI British American Tob-SP ADR New 0.05% +0.05
FNDF Schwab Fndmn Intl LRG Co. ETF Add +1.5% 3.85% +0.05
KC Kingsoft Cloud Holdings-ADR New 0.05% +0.05
VDE Vanguard Energy ETF Add +4.2% 1.44% +0.03
GOOGL Alphabet Inc. Class A Add +0.3% 0.14% +0.03
LMT Lockheed Martin Corp. Add +3.5% 0.81% +0.03
HMY Harmony Gold MNG-Spon ADR Add +3.0% 0.11% +0.02
VPU Vanguard Utilities ETF Add +2.1% 0.93% +0.02
BBVA Banco Bilbao Vizcaya-SP ADR Add +1.1% 0.11% +0.02
ORCL Oracle Corp. Add +0.1% 0.10% +0.02
XOM Exxon Mobil Corp. Add +3.5% 1.85% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 109$376.3MSPY, SCHB, FNDF, SPYG, SPHD
Q2 2025 108$350.0MSPY, SCHB, FNDF, SPHD, SPYG
Q1 2025 104$320.5MSPY, SCHB, FNDF, SPHD, TIP
Q4 2024 101$311.7MSPY, SCHB, FNDF, SPHD, SPYG
Q3 2024 102$307.7MSPY, SCHB, SPHD, FNDF, TIP
Q2 2024 108$297.2MSPY, SCHB, FNDF, SPHD, TIP
Q1 2024 105$290.3MSPY, SCHB, FNDF, SPHD, TIP