Sippican Capital Advisors

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 2, 2024), Sippican Capital Advisors reported 114 stock positions worth $128.6 million. Its top holding was Bancorp (TBBK) at 4.1% of the portfolio, followed by NVR (NVR, 3.3%) and Fidelity 500 Index Fund (FXAIX, 2.5%). Compared with Q4 2023, it opened 5 new positions, sold out of 8, added to 21 and reduced 65. The biggest buy was 3M (MMM, shares +74%) and the biggest sale Gilead Sciences (GILD, shares −81%).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001557406
Portfolio Value
$128.6M (Q1 2024)
SEC Filing
0001398344-24-008504 ↗ filed May 2, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $128.6M $128.6M Q1 2024 Q2 2024: $126.4M Q2 2024 Q3 2024: $143.3M Q3 2024 Q4 2024: $137.3M Q4 2024 Q1 2025: $132.7M Q1 2025 Q2 2025: $137.7M Q2 2025 Q3 2025: $151.3M Q3 2025 Q4 2025: $155.6M Q4 2025 Q1 2026: $146.1M Q1 2026 Q2 2026: $163.9M Q2 2026

Holdings 114 stocks · $128.6M
TBBK The Bancorp Inc. 4.12% 158,437 $5.3M Reduce -4.4%
NVR NVR Inc. 3.26% 517 $4.2M Reduce -4.3%
FXAIX Fidelity 500 Index Fund 2.49% 17,487 $3.2M Reduce -0.0%
CVX Chevron Corp. 2.39% 19,473 $3.1M Reduce -12.0%
TFIN Triumph Financial Inc. 2.35% 38,039 $3.0M Add +6.7%
LEN Lennar Corp. Class A 2.33% 17,448 $3.0M Reduce -5.1%
GE General Electric 2.29% 16,739 $2.9M Reduce -5.7%
ABBV Abbvie Inc. 2.25% 15,892 $2.9M Reduce -4.8%
LLY Eli Lilly & Co. 2.17% 3,586 $2.8M Reduce -23.3%
MRK Merck & Co. Inc. 2.12% 20,681 $2.7M Reduce -9.9%
C Citigroup Inc. 1.91% 38,770 $2.5M Reduce -1.2%
MGM MGM Resorts International 1.84% 50,115 $2.4M Reduce -5.0%
FANG Diamondback Energy Inc. 1.83% 11,860 $2.4M Reduce -6.8%
PFE Pfizer Inc. 1.79% 82,762 $2.3M Add +21.4%
BMY Bristol-Myers Squibb Co. 1.78% 42,147 $2.3M Add +8.1%
COP Conocophillips 1.76% 17,762 $2.3M Reduce -9.2%
MMM 3M Co. 1.74% 21,046 $2.2M Add +73.8%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 1.66% 26,687 $2.1M No change
BRK.B Berkshire Hathaway Inc. Class B 1.66% 5,069 $2.1M Reduce -19.2%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.66% 17,465 $2.1M Add +1.0%
VBTX Veritex Holdings Inc. 1.53% 95,735 $2.0M Add +7.2%
PXD Pioneer Natural Resources Co. 1.37% 6,727 $1.8M Reduce -3.3%
CTRA Coterra Energy Inc. 1.37% 63,110 $1.8M Reduce -3.8%
OMF Onemain Holdings Inc. 1.32% 33,329 $1.7M Add +0.1%
RTX RTX Corp. 1.32% 17,415 $1.7M Reduce -1.8%
BANC Banc of California Inc. 1.32% 111,485 $1.7M Reduce -1.7%
COLB Columbia Banking System Inc. 1.31% 86,884 $1.7M Add +182.1%
EOG EOG Resources Inc. 1.29% 12,928 $1.7M Reduce -3.6%
XOM Exxon Mobil Corp. 1.27% 14,020 $1.6M Reduce -13.3%
GOOG Alphabet Inc. Class C 1.26% 10,660 $1.6M Reduce -3.9%
DVA Davita Inc. 1.19% 11,125 $1.5M Reduce -28.8%
GEHC GE Healthcare Technology 1.19% 16,891 $1.5M No change
ALRS Alerus Financial Corp. 1.14% 67,390 $1.5M Add +11.9%
DKNG Draftkings Inc. Class A 1.13% 32,119 $1.5M Reduce -9.7%
GT Goodyear Tire & Rubber Co. 1.11% 104,100 $1.4M Reduce -6.6%
WAL Western Alliance Bancorp 1.11% 22,140 $1.4M Reduce -5.6%
JPM JPMorgan Chase & Co. 1.09% 7,018 $1.4M Reduce -40.7%
AAPL Apple Inc. 0.99% 7,436 $1.3M Reduce -6.5%
LMT Lockheed Martin Corp. 0.92% 2,614 $1.2M Add +2.1%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.89% 13,677 $1.1M Reduce -2.5%
CASH Pathward Financial Inc. 0.88% 22,290 $1.1M Reduce -5.6%
BA The Boeing Co. 0.87% 5,825 $1.1M Add +8.1%
S&P Dow Jones Index Call Optio 0.84% 8 $1.1M No change
KMI Kinder Morgan Inc. 0.84% 58,550 $1.1M Add +0.6%
S&P 500 Index Call Option 06/2 0.81% 8 $1.0M No change
JNJ Johnson & Johnson 0.79% 6,451 $1.0M Reduce -5.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.78% 26,405 $1.0M Reduce -7.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.77% 8,063 $987K Reduce -9.2%
BX Blackstone Inc. 0.76% 7,414 $974K No change
GIS General Mills Inc. 0.76% 13,888 $972K Reduce -24.6%
MOFG Midwestone Financial Group I 0.76% 41,430 $971K Add +88.9%
DE Deere & Co. 0.75% 2,340 $961K Reduce -7.0%
APLS Apellis Pharmaceuticals Inc. 0.73% 15,929 $936K Reduce -0.5%
CB Chubb Ltd. 0.72% 3,595 $932K Reduce -33.8%
CAT Caterpillar Inc. 0.71% 2,500 $916K No change
HTLF Heartland Financial USA Inc. 0.70% 25,748 $905K Add +78.8%
QCRH QCR Holdings Inc. 0.70% 14,765 $897K Reduce -0.2%
VTRS Viatris Inc. 0.69% 74,587 $891K Reduce -34.1%
SM SM Energy Co. 0.66% 17,025 $849K Reduce -3.3%
WY Weyerhaeuser Co. 0.64% 22,737 $816K Reduce -4.0%
GD General Dynamics Corp. 0.61% 2,782 $786K Add +3.7%
BF.B Brown-Forman Corp. Class B 0.60% 14,920 $770K Reduce -8.9%
ORCL Oracle Corp. 0.57% 5,878 $738K No change
CSCO Cisco Systems Inc. 0.57% 14,678 $733K Reduce -11.2%
BWB Bridgewater Bancshares Inc. 0.56% 61,935 $721K Add +54.1%
DOC Healthpeak Properties Inc. 0.53% 36,564 $686K New
PEP Pepsico Inc. 0.53% 3,913 $685K Reduce -18.7%
CATC Cambridge Bancorp 0.52% 9,754 $665K Reduce -49.3%
CL Colgate-Palmolive Co. 0.51% 7,311 $658K Reduce -25.2%
PNFP Pinnacle Financial Partners 0.51% 7,575 $651K No change
HON Honeywell International Inc. 0.50% 3,155 $648K Reduce -14.7%
MSFT Microsoft Corp. 0.50% 1,538 $647K Reduce -34.5%
ENB Enbridge Inc. 0.50% 17,701 $640K Add +5.0%
HD Home Depot Inc. 0.50% 1,662 $638K Reduce -28.1%
MS Morgan Stanley 0.47% 6,429 $605K No change
BANR Banner Corporation 0.47% 12,487 $599K Reduce -8.8%
AXP American Express Co. 0.45% 2,559 $583K Reduce -45.1%
PAA Plains All Amer Pipeline LP 0.45% 32,585 $572K No change
EPD Enterprise Products Partners 0.44% 19,555 $571K No change
BF.A Brown-Forman Corp. Class A 0.44% 10,614 $562K Reduce -19.0%
WFC Wells Fargo & Co. 0.37% 8,293 $481K Reduce -45.6%
VFC VF Corp. 0.37% 31,330 $481K Add +158.2%
ABT Abbott Laboratories 0.35% 4,015 $456K Reduce -27.9%
V Visa Inc. Class A 0.34% 1,587 $443K No change
VMC Vulcan Materials Co. 0.29% 1,370 $374K No change
HSY The Hershey Co. 0.28% 1,850 $360K No change
KO The Coca-Cola Co. 0.26% 5,399 $330K Reduce -20.6%
EAGLE BULK SHIPPING INC 0.25% 5,195 $325K Reduce -15.5%
MVBF MVB Financial Corp. 0.24% 13,810 $308K New
PG The Procter & Gamble Co. 0.23% 1,827 $296K Reduce -37.9%
UNP Union Pacific Corp. 0.22% 1,175 $289K No change
GILD Gilead Sciences Inc. 0.22% 3,942 $289K Reduce -81.5%
SNV Synovus Financial Corp. 0.22% 7,200 $288K Reduce -18.0%
SBLK Star Bulk Carriers Corp. 0.22% 11,970 $286K Reduce -16.3%
TRV The Travelers Cos Inc. 0.21% 1,172 $270K Reduce -33.9%
TTE Totalenergies SE -Spon ADR 0.21% 3,848 $265K No change
OGN Organon & Co. 0.20% 13,882 $261K New
CINF Cincinnati Financial Corp. 0.20% 2,070 $257K Reduce -8.8%
ITW Illinois Tool Works 0.20% 950 $255K No change
CET Central Securities Corp. 0.19% 6,000 $251K No change
AMZN Amazon.com Inc. 0.19% 1,380 $249K No change
OKE Oneok Inc. 0.19% 3,081 $247K No change
TXT Textron Inc. 0.19% 2,500 $240K No change
DHR Danaher Corp. 0.18% 941 $235K No change
ZION Zions Bancorp NA 0.18% 5,300 $230K Reduce -44.2%
SEM Select Medical Holdings Corp. 0.18% 7,560 $228K Reduce -16.8%
LKFN Lakeland Financial Corp. 0.17% 3,362 $223K New
TMHC Taylor Morrison Home Corp. 0.17% 3,500 $218K New
ADBE Adobe Inc. 0.16% 420 $212K No change
BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP 0.16% 3,347 $209K Reduce -15.2%
ERNEXA THERAPEUTICS INC filed as ETERNA THERAPEUTICS INC 0.14% 72,800 $175K Add +34.7%
FACO First Acceptance Corp. 0.03% 16,750 $44K Reduce -42.2%
WTI W&T Offshore Inc. 0.03% 13,600 $36K Add +18.8%
EVGO Evgo Inc. 0.02% 12,400 $31K Add +3.3%

Portfolio Sells Q4 2023 → Q1 2024
GILD Gilead Sciences Inc. Reduce -81.5% 0.22% −1.13
TBBK The Bancorp Inc. Reduce -4.4% 4.12% −0.89
CATC Cambridge Bancorp Reduce -49.3% 0.52% −0.53
S&P 500 Index Call Option 03/2 Sold out 0.00% −0.52
JPM JPMorgan Chase & Co. Reduce -40.7% 1.09% −0.49
PHYSICIANS REALTY TRUST Sold out 0.00% −0.40
VTRS Viatris Inc. Reduce -34.1% 0.69% −0.27
CB Chubb Ltd. Reduce -33.8% 0.72% −0.24
AXP American Express Co. Reduce -45.1% 0.45% −0.23
WFC Wells Fargo & Co. Reduce -45.6% 0.37% −0.21
AAPL Apple Inc. Reduce -6.5% 0.99% −0.21
CVX Chevron Corp. Reduce -12.0% 2.39% −0.20
MSFT Microsoft Corp. Reduce -34.5% 0.50% −0.19
GIS General Mills Inc. Reduce -24.6% 0.76% −0.18
DRI Darden Restaurants Inc. Sold out 0.00% −0.18
BF.A Brown-Forman Corp. Class A Reduce -19.0% 0.44% −0.18
S&P Dow Jones Index Put Option Sold out 0.00% −0.17
TSLA Tesla Inc. Sold out 0.00% −0.17
PSX Phillips 66 Sold out 0.00% −0.17
GM General Motors Co. Sold out 0.00% −0.16
ZION Zions Bancorp NA Reduce -44.2% 0.18% −0.15
GT Goodyear Tire & Rubber Co. Reduce -6.6% 1.11% −0.14
BF.B Brown-Forman Corp. Class B Reduce -8.9% 0.60% −0.13
HD Home Depot Inc. Reduce -28.1% 0.50% −0.13
ABT Abbott Laboratories Reduce -27.9% 0.35% −0.13
BANR Banner Corporation Reduce -8.8% 0.47% −0.11
PEP Pepsico Inc. Reduce -18.7% 0.53% −0.11
PG The Procter & Gamble Co. Reduce -37.9% 0.23% −0.11
CASH Pathward Financial Inc. Reduce -5.6% 0.88% −0.11
WAL Western Alliance Bancorp Reduce -5.6% 1.11% −0.11
HON Honeywell International Inc. Reduce -14.7% 0.50% −0.10
CL Colgate-Palmolive Co. Reduce -25.2% 0.51% −0.10
BRK.B Berkshire Hathaway Inc. Class B Reduce -19.2% 1.66% −0.10
ETF MANAGERS GRP COMMDTY TR Sold out 0.00% −0.09
DVA Davita Inc. Reduce -28.8% 1.19% −0.09
CSCO Cisco Systems Inc. Reduce -11.2% 0.57% −0.09
BOH Bank of Hawaii Corp. Reduce -15.2% 0.16% −0.06
KO The Coca-Cola Co. Reduce -20.6% 0.26% −0.06
TRV The Travelers Cos Inc. Reduce -33.9% 0.21% −0.06
JNJ Johnson & Johnson Reduce -5.2% 0.79% −0.04
DE Deere & Co. Reduce -7.0% 0.75% −0.04
SNV Synovus Financial Corp. Reduce -18.0% 0.22% −0.03
APLS Apellis Pharmaceuticals Inc. Reduce -0.5% 0.73% −0.02
COP Conocophillips Reduce -9.2% 1.76% −0.02
SBLK Star Bulk Carriers Corp. Reduce -16.3% 0.22% −0.02
EAGLE BULK SHIPPING INC Reduce -15.5% 0.25% −0.01
FACO First Acceptance Corp. Reduce -42.2% 0.03% −0.01
WY Weyerhaeuser Co. Reduce -4.0% 0.64% −0.01
MGM MGM Resorts International Reduce -5.0% 1.84% −0.01
XOM Exxon Mobil Corp. Reduce -13.3% 1.27% −0.00

Portfolio Buys Q4 2023 → Q1 2024
MMM 3M Co. Add +73.8% 1.74% +0.70
COLB Columbia Banking System Inc. Add +182.1% 1.31% +0.66
DOC Healthpeak Properties Inc. New 0.53% +0.53
MOFG Midwestone Financial Group I Add +88.9% 0.76% +0.29
HTLF Heartland Financial USA Inc. Add +78.8% 0.70% +0.28
PFE Pfizer Inc. Add +21.4% 1.79% +0.25
MVBF MVB Financial Corp. New 0.24% +0.24
BMY Bristol-Myers Squibb Co. Add +8.1% 1.78% +0.21
OGN Organon & Co. New 0.20% +0.20
TROW T Rowe Price Group Inc. Add +1.0% 1.66% +0.20
VFC VF Corp. Add +158.2% 0.37% +0.19
LKFN Lakeland Financial Corp. New 0.17% +0.17
TMHC Taylor Morrison Home Corp. New 0.17% +0.17
BWB Bridgewater Bancshares Inc. Add +54.1% 0.56% +0.13
TFIN Triumph Financial Inc. Add +6.7% 2.35% +0.10
ALRS Alerus Financial Corp. Add +11.9% 1.14% +0.09
GD General Dynamics Corp. Add +3.7% 0.61% +0.06
ERNEXA THERAPEUTICS INC Add +34.7% 0.14% +0.06
OMF Onemain Holdings Inc. Add +0.1% 1.32% +0.04
KMI Kinder Morgan Inc. Add +0.6% 0.84% +0.03
ENB Enbridge Inc. Add +5.0% 0.50% +0.02
LMT Lockheed Martin Corp. Add +2.1% 0.92% +0.01
WTI W&T Offshore Inc. Add +18.8% 0.03% −0.00
EVGO Evgo Inc. Add +3.3% 0.02% −0.01
VBTX Veritex Holdings Inc. Add +7.2% 1.53% −0.10
BA The Boeing Co. Add +8.1% 0.87% −0.23

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 111$163.9MTBBK, GE, TFIN, GOOG, BMY
Q1 2026 107$146.1MTBBK, GE, TFIN, XOM, BMY
Q4 2025 113$155.6MTBBK, GE, TFIN, BOXX, NVR
Q3 2025 114$151.3MTBBK, GE, NVR, TFIN, XOM
Q2 2025 112$137.7MTBBK, GE, NVR, XOM, TFIN
Q1 2025 109$132.7MTBBK, NVR, XOM, BMY, GE
Q4 2024 112$137.3MTBBK, NVR, TFIN, FXAIX, XOM
Q3 2024 113$143.3MTBBK, NVR, BOXX, XOM, LEN
Q2 2024 113$126.4MTBBK, NVR, XOM, TFIN, LLY
Q1 2024 114$128.6MTBBK, NVR, FXAIX, CVX, TFIN