Sippican Capital Advisors

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 28, 2025), Sippican Capital Advisors reported 109 stock positions worth $132.7 million. Its top holding was Bancorp (TBBK) at 6.2% of the portfolio, followed by NVR (NVR, 2.8%) and Exxon Mobil (XOM, 2.6%). Compared with Q4 2024, it sold out of 4, added to 29 and reduced 49. The biggest buy was Goodyear Tire & Rubber (GT, shares +89%) and the biggest sale an exit from T Rowe Price (TROW).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001557406
Portfolio Value
$132.7M (Q1 2025)
SEC Filing
0001398344-25-007863 ↗ filed Apr 28, 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 Q4 2024 Q1 2025: $132.7M $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 109 stocks · $132.7M
TBBK The Bancorp Inc. 6.23% 156,521 $8.3M Reduce -0.5%
NVR NVR Inc. 2.78% 510 $3.7M Reduce -0.4%
XOM Exxon Mobil Corp. 2.62% 29,265 $3.5M Reduce -0.7%
BMY Bristol-Myers Squibb Co. 2.56% 55,622 $3.4M Reduce -0.2%
GE General Electric filed as GE AEROSPACE 2.46% 16,315 $3.3M Reduce -2.9%
CVX Chevron Corp. 2.40% 19,022 $3.2M Reduce -0.0%
MMM 3M Co. 2.22% 20,025 $2.9M Reduce -3.0%
ABBV Abbvie Inc. 2.21% 14,020 $2.9M Reduce -0.2%
BRK.B Berkshire Hathaway Inc. Class B 2.04% 5,076 $2.7M Reduce -0.1%
COLB Columbia Banking System Inc. 2.03% 108,027 $2.7M Add +0.5%
LLY Eli Lilly & Co. 1.96% 3,147 $2.6M Reduce -7.2%
TFIN Triumph Financial Inc. 1.83% 42,111 $2.4M Add +5.2%
VBTX Veritex Holdings Inc. 1.80% 95,465 $2.4M Reduce -0.1%
RTX RTX Corp. 1.73% 17,313 $2.3M No change
C Citigroup Inc. 1.65% 30,865 $2.2M Reduce -16.1%
BOXX Alpha Architect 1-3 MNTH Box 1.57% 18,683 $2.1M Add +32.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 1.54% 23,712 $2.0M Reduce -0.2%
FXAIX Fidelity 500 Index Fund 1.52% 10,322 $2.0M Reduce -34.3%
MRK Merck & Co. Inc. 1.51% 22,268 $2.0M Add +4.0%
LEN Lennar Corp. Class A 1.48% 17,116 $2.0M Reduce -0.1%
CUBI Customers Bancorp Inc. 1.47% 38,824 $1.9M Add +8.5%
MOFG Midwestone Financial Group I 1.47% 65,788 $1.9M No change
ALRS Alerus Financial Corp. 1.41% 100,985 $1.9M Add +18.5%
CTRA Coterra Energy Inc. 1.39% 63,883 $1.8M Reduce -0.5%
BANC Banc of California Inc. 1.35% 126,356 $1.8M Add +2.2%
FANG Diamondback Energy Inc. 1.33% 11,041 $1.8M Reduce -2.3%
PFE Pfizer Inc. 1.29% 67,627 $1.7M Add +63.4%
JPM JPMorgan Chase & Co. 1.29% 6,970 $1.7M Reduce -0.2%
VFC VF Corp. 1.27% 108,342 $1.7M Add +1.9%
WAL Western Alliance Bancorp 1.26% 21,695 $1.7M Reduce -1.8%
GOOG Alphabet Inc. Class C 1.25% 10,651 $1.7M Reduce -0.4%
GT Goodyear Tire & Rubber Co. 1.23% 176,948 $1.6M Add +89.1%
AAPL Apple Inc. 1.22% 7,310 $1.6M Reduce -1.7%
CASH Pathward Financial Inc. 1.21% 21,970 $1.6M Reduce -0.5%
OMF Onemain Holdings Inc. 1.20% 32,539 $1.6M Reduce -0.1%
EOG EOG Resources Inc. 1.18% 12,166 $1.6M Reduce -0.1%
KMI Kinder Morgan Inc. 1.16% 54,065 $1.5M Reduce -7.0%
DVA Davita Inc. 1.15% 10,016 $1.5M Reduce -3.3%
MCB Metropolitan Bank Holding Co. 1.02% 24,121 $1.4M Add +31.8%
BWB Bridgewater Bancshares Inc. 1.01% 96,210 $1.3M Add +6.4%
GEHC GE Healthcare Technology 0.99% 16,347 $1.3M No change
MGM MGM Resorts International 0.97% 43,638 $1.3M Reduce -7.5%
LKFN Lakeland Financial Corp. 0.97% 21,610 $1.3M Add +11.5%
LMT Lockheed Martin Corp. 0.96% 2,860 $1.3M Add +9.6%
SYBT Stock Yards Bancorp Inc. 0.94% 17,984 $1.2M Add +0.8%
DE Deere & Co. 0.83% 2,340 $1.1M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.82% 25,950 $1.1M Reduce -0.4%
QCRH QCR Holdings Inc. 0.81% 15,155 $1.1M No change
CB Chubb Ltd. 0.81% 3,565 $1.1M Reduce -0.7%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.80% 13,534 $1.1M Add +2.9%
OGN Organon & Co. 0.79% 70,076 $1.0M Add +92.8%
DKNG Draftkings Inc. Class A 0.76% 30,399 $1.0M Reduce -2.6%
BX Blackstone Inc. 0.76% 7,219 $1.0M Reduce -1.0%
PNFP Pinnacle Financial Partners 0.74% 9,215 $977K No change
EQBK Equity Bancshares Inc. Class A 0.69% 23,255 $916K Add +22.0%
CAT Caterpillar Inc. 0.62% 2,500 $825K No change
ORCL Oracle Corp. 0.62% 5,878 $822K No change
GD General Dynamics Corp. 0.61% 2,979 $812K Add +8.8%
BANR Banner Corporation 0.60% 12,472 $795K Reduce -0.1%
MYFW First Western Financial Inc. 0.59% 40,070 $787K Add +61.9%
ENB Enbridge Inc. 0.59% 17,701 $784K No change
AXP American Express Co. 0.52% 2,559 $688K No change
EBC Eastern Bankshares Inc. 0.52% 41,806 $686K Reduce -7.8%
MS Morgan Stanley 0.51% 5,795 $676K Reduce -2.6%
EPD Enterprise Products Partners 0.51% 19,730 $674K Add +0.5%
CL Colgate-Palmolive Co. 0.50% 7,130 $668K Reduce -1.0%
MVBF MVB Financial Corp. 0.50% 38,175 $661K Add +24.0%
GIS General Mills Inc. 0.49% 10,883 $651K Reduce -21.4%
JNJ Johnson & Johnson 0.48% 3,865 $641K Reduce -3.4%
PAA Plains All Amer Pipeline LP 0.47% 31,160 $623K Reduce -4.4%
GEV GE Vernova Inc. 0.47% 2,038 $622K No change
HD Home Depot Inc. 0.46% 1,662 $609K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.44% 5,972 $589K Reduce -0.8%
PEP Pepsico Inc. 0.44% 3,912 $587K No change
WFC Wells Fargo & Co. 0.44% 8,143 $585K Reduce -1.8%
MSFT Microsoft Corp. 0.44% 1,538 $577K No change
BA The Boeing Co. 0.43% 3,316 $566K Add +12.3%
V Visa Inc. Class A 0.42% 1,587 $556K No change
BF.B Brown-Forman Corp. Class B 0.39% 15,269 $518K Add +2.4%
ABT Abbott Laboratories 0.36% 3,590 $476K No change
SM SM Energy Co. 0.35% 15,625 $468K Reduce -4.3%
COP Conocophillips 0.34% 4,329 $455K Reduce -18.3%
KO The Coca-Cola Co. 0.29% 5,399 $387K No change
HON Honeywell International Inc. 0.27% 1,695 $359K Reduce -18.6%
SBLK Star Bulk Carriers Corp. 0.26% 21,873 $340K Reduce -2.0%
BF.A Brown-Forman Corp. Class A 0.25% 9,851 $330K Reduce -7.2%
VMC Vulcan Materials Co. 0.24% 1,370 $320K No change
HSY The Hershey Co. 0.24% 1,850 $316K No change
PG The Procter & Gamble Co. 0.23% 1,827 $311K No change
OKE Oneok Inc. 0.23% 3,078 $305K No change
TRV The Travelers Cos Inc. 0.23% 1,136 $300K Reduce -2.1%
CINF Cincinnati Financial Corp. 0.22% 1,985 $293K No change
UNP Union Pacific Corp. 0.21% 1,175 $278K No change
CET Central Securities Corp. 0.20% 6,000 $270K No change
AMZN Amazon.com Inc. 0.20% 1,380 $263K No change
ZION Zions Bancorp NA 0.20% 5,250 $262K No change
TTE Totalenergies SE -Spon ADR 0.19% 3,898 $252K No change
ITW Illinois Tool Works 0.18% 950 $236K No change
MRP Millrose Properties 0.17% 8,731 $231K Add +2.0%
SNV Synovus Financial Corp. 0.17% 4,925 $230K Reduce -2.9%

Show all 109 holdings

Portfolio Sells Q4 2024 → Q1 2025
TROW T Rowe Price Group Inc. Sold out 0.00% −1.35
FXAIX Fidelity 500 Index Fund Reduce -34.3% 1.52% −0.81
APLS Apellis Pharmaceuticals Inc. Sold out 0.00% −0.48
IRM Iron Mountain Inc. Reduce -0.2% 1.54% −0.28
NVR NVR Inc. Reduce -0.4% 2.78% −0.27
C Citigroup Inc. Reduce -16.1% 1.65% −0.23
GOOG Alphabet Inc. Class C Reduce -0.4% 1.25% −0.23
LEN Lennar Corp. Class A Reduce -0.1% 1.48% −0.22
MGM MGM Resorts International Reduce -7.5% 0.97% −0.22
GOOGL Alphabet Inc. Class A Sold out 0.00% −0.16
BX Blackstone Inc. Reduce -1.0% 0.76% −0.16
CON Concentra Group Holdings Par Sold out 0.00% −0.16
GIS General Mills Inc. Reduce -21.4% 0.49% −0.15
AAPL Apple Inc. Reduce -1.7% 1.22% −0.13
SM SM Energy Co. Reduce -4.3% 0.35% −0.11
VBTX Veritex Holdings Inc. Reduce -0.1% 1.80% −0.09
WAL Western Alliance Bancorp Reduce -1.8% 1.26% −0.09
TSLA Tesla Inc. Reduce -1.2% 0.16% −0.09
DKNG Draftkings Inc. Class A Reduce -2.6% 0.76% −0.09
HON Honeywell International Inc. Reduce -18.6% 0.27% −0.07
EBC Eastern Bankshares Inc. Reduce -7.8% 0.52% −0.05
SEM Select Medical Holdings Corp. Reduce -20.3% 0.13% −0.05
DIS The Walt Disney Co. Reduce -0.8% 0.44% −0.04
BF.A Brown-Forman Corp. Class A Reduce -7.2% 0.25% −0.04
COP Conocophillips Reduce -18.3% 0.34% −0.04
OMF Onemain Holdings Inc. Reduce -0.1% 1.20% −0.04
MS Morgan Stanley Reduce -2.6% 0.51% −0.04
BAC Bank of America Corp. Reduce -0.4% 0.82% −0.02
FANG Diamondback Energy Inc. Reduce -2.3% 1.33% −0.02
SNV Synovus Financial Corp. Reduce -2.9% 0.17% −0.02
BANR Banner Corporation Reduce -0.1% 0.60% −0.01
KMI Kinder Morgan Inc. Reduce -7.0% 1.16% +0.00
SBLK Star Bulk Carriers Corp. Reduce -2.0% 0.26% +0.01
WFC Wells Fargo & Co. Reduce -1.8% 0.44% +0.02
TRV The Travelers Cos Inc. Reduce -2.1% 0.23% +0.02
CASH Pathward Financial Inc. Reduce -0.5% 1.21% +0.02
DVA Davita Inc. Reduce -3.3% 1.15% +0.03
CL Colgate-Palmolive Co. Reduce -1.0% 0.50% +0.03
LLY Eli Lilly & Co. Reduce -7.2% 1.96% +0.05
JNJ Johnson & Johnson Reduce -3.4% 0.48% +0.06
PAA Plains All Amer Pipeline LP Reduce -4.4% 0.47% +0.06
JPM JPMorgan Chase & Co. Reduce -0.2% 1.29% +0.07
EOG EOG Resources Inc. Reduce -0.1% 1.18% +0.09
CB Chubb Ltd. Reduce -0.7% 0.81% +0.09
CTRA Coterra Energy Inc. Reduce -0.5% 1.39% +0.20
TBBK The Bancorp Inc. Reduce -0.5% 6.23% +0.20
BMY Bristol-Myers Squibb Co. Reduce -0.2% 2.56% +0.26
MMM 3M Co. Reduce -3.0% 2.22% +0.28
XOM Exxon Mobil Corp. Reduce -0.7% 2.62% +0.31
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.1% 2.04% +0.36

Portfolio Buys Q4 2024 → Q1 2025
GT Goodyear Tire & Rubber Co. Add +89.1% 1.23% +0.62
PFE Pfizer Inc. Add +63.4% 1.29% +0.49
BOXX Alpha Architect 1-3 MNTH Box Add +32.1% 1.57% +0.43
OGN Organon & Co. Add +92.8% 0.79% +0.39
MYFW First Western Financial Inc. Add +61.9% 0.59% +0.24
MCB Metropolitan Bank Holding Co. Add +31.8% 1.02% +0.24
ALRS Alerus Financial Corp. Add +18.5% 1.41% +0.21
CUBI Customers Bancorp Inc. Add +8.5% 1.47% +0.20
BWB Bridgewater Bancshares Inc. Add +6.4% 1.01% +0.12
EQBK Equity Bancshares Inc. Class A Add +22.0% 0.69% +0.10
GD General Dynamics Corp. Add +8.8% 0.61% +0.09
EPD Enterprise Products Partners Add +0.5% 0.51% +0.06
BA The Boeing Co. Add +12.3% 0.43% +0.05
LMT Lockheed Martin Corp. Add +9.6% 0.96% +0.04
MVBF MVB Financial Corp. Add +24.0% 0.50% +0.03
MRP Millrose Properties Add +2.0% 0.17% +0.01
SYBT Stock Yards Bancorp Inc. Add +0.8% 0.94% +0.01
ERNEXA THERAPEUTICS INC Add +60.0% 0.01% 0.00
LKFN Lakeland Financial Corp. Add +11.5% 0.97% −0.00
IREN Iren Ltd. Add +47.4% 0.09% −0.01
CF CF Industries Holdings Inc. Add +2.9% 0.80% −0.02
BF.B Brown-Forman Corp. Class B Add +2.4% 0.39% −0.02
CIFR Cipher Digital Inc. Add +4.9% 0.04% −0.03
BANC Banc of California Inc. Add +2.2% 1.35% −0.04
MRK Merck & Co. Inc. Add +4.0% 1.51% −0.05
WULF Terawulf Inc. Add +1.2% 0.06% −0.06
COLB Columbia Banking System Inc. Add +0.5% 2.03% −0.08
VFC VF Corp. Add +1.9% 1.27% −0.39
TFIN Triumph Financial Inc. Add +5.2% 1.83% −0.82

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