Sippican Capital Advisors

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 23, 2025), Sippican Capital Advisors reported 112 stock positions worth $137.3 million. Its top holding was Bancorp (TBBK) at 6.0% of the portfolio, followed by NVR (NVR, 3.1%) and Triumph Financial (TFIN, 2.7%). Compared with Q3 2024, it opened 3 new positions, sold out of 5, added to 26 and reduced 46. The biggest buy was a new position in Goodyear Tire & Rubber (GT) and the biggest sale Alpha Architect 1-3 MNTH Box (BOXX, shares −59%).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001557406
Portfolio Value
$137.3M (Q4 2024)
SEC Filing
0001398344-25-000969 ↗ filed Jan 23, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $128.6M Q1 2024 Q2 2024: $126.4M Q2 2024 Q3 2024: $143.3M Q3 2024 Q4 2024: $137.3M $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 112 stocks · $137.3M
TBBK The Bancorp Inc. 6.03% 157,281 $8.3M Reduce -0.1%
NVR NVR Inc. 3.05% 512 $4.2M Reduce -0.4%
TFIN Triumph Financial Inc. 2.65% 40,048 $3.6M Add +0.3%
FXAIX Fidelity 500 Index Fund 2.34% 15,699 $3.2M Add +0.7%
XOM Exxon Mobil Corp. 2.31% 29,456 $3.2M Reduce -1.3%
BMY Bristol-Myers Squibb Co. 2.30% 55,752 $3.2M Reduce -1.6%
COLB Columbia Banking System Inc. 2.12% 107,487 $2.9M Reduce -3.3%
GE General Electric filed as GE AEROSPACE 2.04% 16,793 $2.8M Reduce -0.1%
CVX Chevron Corp. 2.01% 19,024 $2.8M Reduce -2.5%
MMM 3M Co. 1.94% 20,636 $2.7M Reduce -2.6%
LLY Eli Lilly & Co. 1.91% 3,390 $2.6M Reduce -1.6%
VBTX Veritex Holdings Inc. 1.89% 95,530 $2.6M Reduce -3.7%
C Citigroup Inc. 1.89% 36,784 $2.6M Reduce -3.6%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 1.82% 23,762 $2.5M Reduce -4.3%
ABBV Abbvie Inc. 1.82% 14,045 $2.5M Reduce -5.0%
LEN Lennar Corp. Class A 1.70% 17,126 $2.3M Reduce -1.5%
BRK.B Berkshire Hathaway Inc. Class B 1.68% 5,081 $2.3M Add +0.1%
VFC VF Corp. 1.66% 106,302 $2.3M Add +5.9%
MRK Merck & Co. Inc. 1.55% 21,418 $2.1M Add +3.6%
GOOG Alphabet Inc. Class C 1.48% 10,695 $2.0M Add +0.2%
RTX RTX Corp. 1.46% 17,313 $2.0M Reduce -1.5%
MOFG Midwestone Financial Group I 1.40% 65,788 $1.9M Reduce -0.8%
BANC Banc of California Inc. 1.39% 123,667 $1.9M Add +1.7%
AAPL Apple Inc. 1.36% 7,436 $1.9M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.35% 16,442 $1.9M Reduce -11.9%
FANG Diamondback Energy Inc. 1.35% 11,296 $1.9M Reduce -4.3%
WAL Western Alliance Bancorp 1.35% 22,100 $1.8M Reduce -0.2%
CUBI Customers Bancorp Inc. 1.27% 35,769 $1.7M Add +34.6%
OMF Onemain Holdings Inc. 1.24% 32,564 $1.7M Reduce -0.1%
JPM JPMorgan Chase & Co. 1.22% 6,984 $1.7M No change
CTRA Coterra Energy Inc. 1.19% 64,200 $1.6M Add +0.3%
ALRS Alerus Financial Corp. 1.19% 85,205 $1.6M Add +5.8%
MGM MGM Resorts International 1.19% 47,182 $1.6M Reduce -8.4%
CASH Pathward Financial Inc. 1.18% 22,070 $1.6M Reduce -0.5%
KMI Kinder Morgan Inc. 1.16% 58,145 $1.6M No change
BOXX Alpha Architect 1-3 MNTH Box 1.14% 14,146 $1.6M Reduce -59.1%
DVA Davita Inc. 1.13% 10,356 $1.5M Reduce -1.0%
EOG EOG Resources Inc. 1.09% 12,183 $1.5M Reduce -0.4%
LKFN Lakeland Financial Corp. 0.97% 19,376 $1.3M Add +2.4%
GEHC GE Healthcare Technology 0.93% 16,347 $1.3M Reduce -1.5%
SYBT Stock Yards Bancorp Inc. 0.93% 17,844 $1.3M Add +2.8%
LMT Lockheed Martin Corp. 0.92% 2,609 $1.3M Reduce -0.0%
BX Blackstone Inc. 0.92% 7,295 $1.3M Reduce -0.1%
QCRH QCR Holdings Inc. 0.89% 15,155 $1.2M No change
BWB Bridgewater Bancshares Inc. 0.89% 90,410 $1.2M Add +5.7%
DKNG Draftkings Inc. Class A 0.85% 31,214 $1.2M Reduce -1.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.83% 26,050 $1.1M Reduce -0.4%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.82% 13,155 $1.1M Reduce -1.1%
PFE Pfizer Inc. 0.80% 41,397 $1.1M Reduce -53.1%
MCB Metropolitan Bank Holding Co. 0.78% 18,296 $1.1M Add +41.2%
PNFP Pinnacle Financial Partners 0.77% 9,215 $1.1M No change
CB Chubb Ltd. 0.72% 3,590 $992K Add +0.4%
DE Deere & Co. 0.72% 2,340 $991K No change
ORCL Oracle Corp. 0.71% 5,878 $980K No change
CAT Caterpillar Inc. 0.66% 2,500 $907K No change
GIS General Mills Inc. 0.64% 13,842 $883K Reduce -0.3%
GT Goodyear Tire & Rubber Co. 0.61% 93,585 $842K New
BANR Banner Corporation 0.61% 12,487 $834K No change
EQBK Equity Bancshares Inc. Class A 0.59% 19,064 $809K Add +7.9%
EBC Eastern Bankshares Inc. 0.57% 45,364 $783K No change
AXP American Express Co. 0.55% 2,559 $759K No change
ENB Enbridge Inc. 0.55% 17,701 $751K No change
MS Morgan Stanley 0.55% 5,950 $748K Reduce -1.6%
GD General Dynamics Corp. 0.53% 2,737 $721K Reduce -1.6%
GEV GE Vernova Inc. 0.49% 2,038 $670K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.49% 6,019 $670K Reduce -4.7%
APLS Apellis Pharmaceuticals Inc. 0.48% 20,753 $662K Reduce -31.5%
CL Colgate-Palmolive Co. 0.48% 7,200 $655K Add +0.9%
MSFT Microsoft Corp. 0.47% 1,538 $648K No change
HD Home Depot Inc. 0.47% 1,662 $647K No change
MVBF MVB Financial Corp. 0.46% 30,785 $637K Add +29.2%
SM SM Energy Co. 0.46% 16,325 $633K Reduce -3.4%
EPD Enterprise Products Partners 0.45% 19,630 $616K No change
PEP Pepsico Inc. 0.43% 3,912 $595K No change
WFC Wells Fargo & Co. 0.42% 8,293 $583K No change
JNJ Johnson & Johnson 0.42% 4,001 $579K Reduce -1.8%
BF.B Brown-Forman Corp. Class B 0.41% 14,919 $567K No change
PAA Plains All Amer Pipeline LP 0.41% 32,585 $557K No change
OGN Organon & Co. 0.40% 36,352 $542K Add +138.7%
COP Conocophillips 0.38% 5,298 $525K Reduce -2.4%
BA The Boeing Co. 0.38% 2,953 $523K Reduce -60.9%
V Visa Inc. Class A 0.37% 1,587 $502K No change
MYFW First Western Financial Inc. 0.35% 24,745 $484K Add +82.0%
HON Honeywell International Inc. 0.34% 2,081 $470K Reduce -9.4%
ABT Abbott Laboratories 0.30% 3,590 $406K No change
BF.A Brown-Forman Corp. Class A 0.29% 10,614 $400K No change
VMC Vulcan Materials Co. 0.26% 1,370 $352K No change
TSLA Tesla Inc. 0.25% 851 $344K Reduce -0.3%
KO The Coca-Cola Co. 0.24% 5,399 $336K No change
SBLK Star Bulk Carriers Corp. 0.24% 22,323 $334K Reduce -0.2%
HSY The Hershey Co. 0.23% 1,850 $313K No change
OKE Oneok Inc. 0.23% 3,078 $309K No change
PG The Procter & Gamble Co. 0.22% 1,827 $306K No change
AMZN Amazon.com Inc. 0.22% 1,380 $303K No change
CINF Cincinnati Financial Corp. 0.21% 1,985 $285K Reduce -4.1%
ZION Zions Bancorp NA 0.21% 5,250 $285K No change
TRV The Travelers Cos Inc. 0.20% 1,161 $280K No change
CET Central Securities Corp. 0.20% 6,000 $274K No change
UNP Union Pacific Corp. 0.20% 1,175 $268K No change
SNV Synovus Financial Corp. 0.19% 5,072 $260K No change

Show all 112 holdings

Portfolio Sells Q3 2024 → Q4 2024
BOXX Alpha Architect 1-3 MNTH Box Reduce -59.1% 1.14% −1.49
PFE Pfizer Inc. Reduce -53.1% 0.80% −0.98
LEN Lennar Corp. Class A Reduce -1.5% 1.70% −0.57
NVR NVR Inc. Reduce -0.4% 3.05% −0.47
BA The Boeing Co. Reduce -60.9% 0.38% −0.42
IRM Iron Mountain Inc. Reduce -4.3% 1.82% −0.24
DOC Healthpeak Properties Inc. Sold out 0.00% −0.24
LLY Eli Lilly & Co. Reduce -1.6% 1.91% −0.22
ABBV Abbvie Inc. Reduce -5.0% 1.82% −0.22
MGM MGM Resorts International Reduce -8.4% 1.19% −0.21
DHR Danaher Corp. Sold out 0.00% −0.18
GE General Electric Reduce -0.1% 2.04% −0.17
GEHC GE Healthcare Technology Reduce -1.5% 0.93% −0.16
TXT Textron Inc. Sold out 0.00% −0.15
ADBE Adobe Inc. Sold out 0.00% −0.15
LMT Lockheed Martin Corp. Reduce -0.0% 0.92% −0.14
XOM Exxon Mobil Corp. Reduce -1.3% 2.31% −0.13
APLS Apellis Pharmaceuticals Inc. Reduce -31.5% 0.48% −0.13
SBLK Star Bulk Carriers Corp. Reduce -0.2% 0.24% −0.13
VTRS Viatris Inc. Sold out 0.00% −0.12
MMM 3M Co. Reduce -2.6% 1.94% −0.08
GIS General Mills Inc. Reduce -0.3% 0.64% −0.07
FANG Diamondback Energy Inc. Reduce -4.3% 1.35% −0.07
DVA Davita Inc. Reduce -1.0% 1.13% −0.07
TROW T Rowe Price Group Inc. Reduce -11.9% 1.35% −0.06
GD General Dynamics Corp. Reduce -1.6% 0.53% −0.06
ERNEXA THERAPEUTICS INC Reduce -27.0% 0.01% −0.04
JNJ Johnson & Johnson Reduce -1.8% 0.42% −0.04
RTX RTX Corp. Reduce -1.5% 1.46% −0.03
DKNG Draftkings Inc. Class A Reduce -1.0% 0.85% −0.02
COP Conocophillips Reduce -2.4% 0.38% −0.02
SM SM Energy Co. Reduce -3.4% 0.46% −0.01
CVX Chevron Corp. Reduce -2.5% 2.01% +0.00
WAL Western Alliance Bancorp Reduce -0.2% 1.35% +0.01
CINF Cincinnati Financial Corp. Reduce -4.1% 0.21% +0.01
HON Honeywell International Inc. Reduce -9.4% 0.34% +0.01
CF CF Industries Holdings Inc. Reduce -1.1% 0.82% +0.02
EOG EOG Resources Inc. Reduce -0.4% 1.09% +0.04
DIS The Walt Disney Co. Reduce -4.7% 0.49% +0.06
VBTX Veritex Holdings Inc. Reduce -3.7% 1.89% +0.07
MOFG Midwestone Financial Group I Reduce -0.8% 1.40% +0.08
COLB Columbia Banking System Inc. Reduce -3.3% 2.12% +0.09
TSLA Tesla Inc. Reduce -0.3% 0.25% +0.09
MS Morgan Stanley Reduce -1.6% 0.55% +0.11
BAC Bank of America Corp. Reduce -0.4% 0.83% +0.11
BX Blackstone Inc. Reduce -0.1% 0.92% +0.14
TBBK The Bancorp Inc. Reduce -0.1% 6.03% +0.15
CASH Pathward Financial Inc. Reduce -0.5% 1.18% +0.16
OMF Onemain Holdings Inc. Reduce -0.1% 1.24% +0.17
C Citigroup Inc. Reduce -3.6% 1.89% +0.22

Portfolio Buys Q3 2024 → Q4 2024
GT Goodyear Tire & Rubber Co. New 0.61% +0.61
TFIN Triumph Financial Inc. Add +0.3% 2.65% +0.44
CUBI Customers Bancorp Inc. Add +34.6% 1.27% +0.41
MCB Metropolitan Bank Holding Co. Add +41.2% 0.78% +0.30
VFC VF Corp. Add +5.9% 1.66% +0.26
GOOG Alphabet Inc. Class C Add +0.2% 1.48% +0.24
OGN Organon & Co. Add +138.7% 0.40% +0.19
SYBT Stock Yards Bancorp Inc. Add +2.8% 0.93% +0.18
MYFW First Western Financial Inc. Add +82.0% 0.35% +0.16
GOOGL Alphabet Inc. Class A New 0.16% +0.16
BOH Bank of Hawaii Corp. New 0.16% +0.16
FXAIX Fidelity 500 Index Fund Add +0.7% 2.34% +0.15
BANC Banc of California Inc. Add +1.7% 1.39% +0.14
MVBF MVB Financial Corp. Add +29.2% 0.46% +0.14
CTRA Coterra Energy Inc. Add +0.3% 1.19% +0.13
LKFN Lakeland Financial Corp. Add +2.4% 0.97% +0.11
EQBK Equity Bancshares Inc. Class A Add +7.9% 0.59% +0.09
BRK.B Berkshire Hathaway Inc. Class B Add +0.1% 1.68% +0.05
BWB Bridgewater Bancshares Inc. Add +5.7% 0.89% +0.04
WULF Terawulf Inc. Add +5.7% 0.12% +0.03
IREN Iren Ltd. Add +15.1% 0.09% +0.03
CON Concentra Group Holdings Par Add +7.2% 0.16% +0.02
CIFR Cipher Digital Inc. Add +3.8% 0.07% +0.01
CB Chubb Ltd. Add +0.4% 0.72% +0.00
TTE Totalenergies SE -Spon ADR Add +1.3% 0.15% −0.02
CL Colgate-Palmolive Co. Add +0.9% 0.48% −0.04
MRK Merck & Co. Inc. Add +3.6% 1.55% −0.09
ALRS Alerus Financial Corp. Add +5.8% 1.19% −0.09
SEM Select Medical Holdings Corp. Add +7.3% 0.18% −0.12

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