Sippican Capital Advisors

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 25, 2025), Sippican Capital Advisors reported 112 stock positions worth $137.7 million. Its top holding was Bancorp (TBBK) at 6.5% of the portfolio, followed by General Electric (GE, 3.0%) and NVR (NVR, 2.7%). Compared with Q1 2025, it opened 5 new positions, sold out of 2, added to 36 and reduced 29. The biggest buy was a new position in T Rowe PR Growth Stock-I (PRUFX) and the biggest sale Alpha Architect 1-3 MNTH Box (BOXX, shares −83%).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001557406
Portfolio Value
$137.7M (Q2 2025)
SEC Filing
0001398344-25-013756 ↗ filed Jul 25, 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 Q1 2025 Q2 2025: $137.7M $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 · $137.7M
TBBK The Bancorp Inc. 6.45% 155,951 $8.9M Reduce -0.4%
GE General Electric filed as GE AEROSPACE 2.97% 15,860 $4.1M Reduce -2.8%
NVR NVR Inc. 2.73% 509 $3.8M Reduce -0.2%
XOM Exxon Mobil Corp. 2.29% 29,265 $3.2M No change
TFIN Triumph Financial Inc. 2.25% 56,081 $3.1M Add +33.2%
MMM 3M Co. 2.20% 19,852 $3.0M Reduce -0.9%
CVX Chevron Corp. 1.98% 19,047 $2.7M Add +0.1%
BMY Bristol-Myers Squibb Co. 1.90% 56,392 $2.6M Add +1.4%
ABBV Abbvie Inc. 1.89% 14,010 $2.6M Reduce -0.1%
COLB Columbia Banking System Inc. 1.88% 110,842 $2.6M Add +2.6%
C Citigroup Inc. 1.85% 29,870 $2.5M Reduce -3.2%
RTX RTX Corp. 1.83% 17,293 $2.5M Reduce -0.1%
VBTX Veritex Holdings Inc. 1.81% 95,540 $2.5M Add +0.1%
BRK.B Berkshire Hathaway Inc. Class B 1.79% 5,076 $2.5M No change
LLY Eli Lilly & Co. 1.77% 3,127 $2.4M Reduce -0.6%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 1.77% 23,712 $2.4M No change
ALRS Alerus Financial Corp. 1.74% 110,638 $2.4M Add +9.6%
CUBI Customers Bancorp Inc. 1.73% 40,639 $2.4M Add +4.7%
FXAIX Fidelity 500 Index Fund 1.65% 10,500 $2.3M Add +1.7%
PFE Pfizer Inc. 1.64% 92,912 $2.3M Add +37.4%
JPM JPMorgan Chase & Co. 1.47% 6,957 $2.0M Reduce -0.2%
MOFG Midwestone Financial Group I 1.38% 65,988 $1.9M Add +0.3%
LEN Lennar Corp. Class A 1.38% 17,118 $1.9M Add +0.0%
GOOG Alphabet Inc. Class C 1.37% 10,598 $1.9M Reduce -0.5%
GT Goodyear Tire & Rubber Co. 1.36% 181,198 $1.9M Add +2.4%
OMF Onemain Holdings Inc. 1.36% 32,964 $1.9M Add +1.3%
MCB Metropolitan Bank Holding Co. 1.33% 26,178 $1.8M Add +8.5%
BANC Banc of California Inc. 1.31% 127,895 $1.8M Add +1.2%
MRK Merck & Co. Inc. 1.28% 22,183 $1.8M Reduce -0.4%
CASH Pathward Financial Inc. 1.26% 21,995 $1.7M Add +0.1%
PRUFX T Rowe PR Growth Stock-I filed as PRICE T ROWE GROWTH S 1.25% 15,417 $1.7M New
WAL Western Alliance Bancorp 1.23% 21,670 $1.7M Reduce -0.1%
CTRA Coterra Energy Inc. 1.17% 63,211 $1.6M Reduce -1.1%
KMI Kinder Morgan Inc. 1.15% 54,065 $1.6M No change
BWB Bridgewater Bancshares Inc. 1.13% 97,610 $1.6M Add +1.5%
FANG Diamondback Energy Inc. 1.10% 11,041 $1.5M No change
AAPL Apple Inc. 1.09% 7,308 $1.5M Reduce -0.0%
LKFN Lakeland Financial Corp. 1.06% 23,724 $1.5M Add +9.8%
EOG EOG Resources Inc. 1.06% 12,166 $1.5M No change
DVA Davita Inc. 1.03% 9,996 $1.4M Reduce -0.2%
SYBT Stock Yards Bancorp Inc. 1.03% 17,989 $1.4M Add +0.0%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.97% 14,504 $1.3M Add +7.2%
LMT Lockheed Martin Corp. 0.96% 2,848 $1.3M Reduce -0.4%
DKNG Draftkings Inc. Class A 0.94% 30,149 $1.3M Reduce -0.8%
ORCL Oracle Corp. 0.93% 5,878 $1.3M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.89% 25,950 $1.2M No change
DE Deere & Co. 0.86% 2,340 $1.2M No change
BX Blackstone Inc. 0.78% 7,219 $1.1M No change
GEV GE Vernova Inc. 0.78% 2,035 $1.1M Reduce -0.1%
EQBK Equity Bancshares Inc. Class A 0.75% 25,377 $1.0M Add +9.1%
CB Chubb Ltd. 0.75% 3,565 $1.0M No change
QCRH QCR Holdings Inc. 0.75% 15,155 $1.0M No change
MYFW First Western Financial Inc. 0.74% 45,100 $1.0M Add +12.6%
PNFP Pinnacle Financial Partners 0.74% 9,215 $1.0M No change
CAT Caterpillar Inc. 0.70% 2,500 $971K No change
MVBF MVB Financial Corp. 0.70% 42,755 $963K Add +12.0%
MGM MGM Resorts International 0.66% 26,276 $904K Reduce -39.8%
GD General Dynamics Corp. 0.63% 2,979 $869K No change
VFC VF Corp. 0.61% 71,654 $842K Reduce -33.9%
AXP American Express Co. 0.59% 2,559 $816K No change
ENB Enbridge Inc. 0.58% 17,701 $802K No change
BANR Banner Corporation 0.58% 12,472 $800K No change
MS Morgan Stanley 0.58% 5,645 $795K Reduce -2.6%
MSFT Microsoft Corp. 0.56% 1,538 $765K No change
GEHC GE Healthcare Technology 0.54% 10,088 $747K Reduce -38.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.54% 5,992 $743K Add +0.3%
BA The Boeing Co. 0.53% 3,450 $723K Add +4.0%
WFC Wells Fargo & Co. 0.47% 8,143 $652K No change
CL Colgate-Palmolive Co. 0.47% 7,130 $648K No change
EBC Eastern Bankshares Inc. 0.46% 41,806 $638K No change
EPD Enterprise Products Partners 0.46% 20,380 $632K Add +3.3%
PEP Pepsico Inc. 0.43% 4,508 $595K Add +15.2%
HD Home Depot Inc. 0.43% 1,617 $593K Reduce -2.7%
PAA Plains All Amer Pipeline LP 0.41% 31,160 $571K No change
V Visa Inc. Class A 0.41% 1,587 $563K No change
JNJ Johnson & Johnson 0.38% 3,410 $521K Reduce -11.8%
GIS General Mills Inc. 0.36% 9,576 $496K Reduce -12.0%
ABT Abbott Laboratories 0.35% 3,590 $488K No change
BF.B Brown-Forman Corp. Class B 0.30% 15,419 $415K Add +1.0%
SM SM Energy Co. 0.28% 15,741 $389K Add +0.7%
KO The Coca-Cola Co. 0.28% 5,399 $382K No change
SBLK Star Bulk Carriers Corp. 0.27% 21,888 $378K Add +0.1%
COP Conocophillips 0.27% 4,179 $375K Reduce -3.5%
HON Honeywell International Inc. 0.26% 1,550 $361K Reduce -8.6%
BOXX Alpha Architect 1-3 MNTH Box 0.26% 3,189 $359K Reduce -82.9%
VMC Vulcan Materials Co. 0.26% 1,370 $357K No change
IREN Iren Ltd. filed as IREN LIMITED 0.26% 24,230 $353K Add +28.6%
VFIAX Vanguard 500 Index-Adm 0.23% 552 $316K New
HSY The Hershey Co. 0.22% 1,850 $307K No change
TRV The Travelers Cos Inc. 0.22% 1,136 $304K No change
AMZN Amazon.com Inc. 0.22% 1,380 $303K No change
CINF Cincinnati Financial Corp. 0.21% 1,985 $296K No change
PG The Procter & Gamble Co. 0.21% 1,827 $291K No change
CET Central Securities Corp. 0.21% 6,000 $287K No change
BF.A Brown-Forman Corp. Class A 0.20% 9,855 $271K Add +0.0%
UNP Union Pacific Corp. 0.20% 1,175 $270K No change
TSLA Tesla Inc. 0.19% 841 $267K No change
ZION Zions Bancorp NA 0.19% 5,050 $262K Reduce -3.8%
SNV Synovus Financial Corp. 0.19% 4,925 $255K No change
OKE Oneok Inc. 0.18% 3,103 $253K Add +0.8%
EGBN Eagle Bancorp Inc. 0.18% 12,955 $252K New
MRP Millrose Properties 0.18% 8,731 $249K No change
TTE Totalenergies SE -Spon ADR 0.17% 3,898 $239K No change
ITW Illinois Tool Works 0.17% 950 $235K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.16% 768 $226K New
USB US Bancorp 0.16% 4,857 $220K No change
TMHC Taylor Morrison Home Corp. 0.16% 3,500 $215K No change
BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP 0.15% 3,015 $204K No change
TXT Textron Inc. 0.15% 2,500 $201K New
WULF Terawulf Inc. 0.11% 33,650 $147K Add +15.8%
CIFR Cipher Digital Inc. 0.07% 21,600 $103K Add +6.7%
ERNEXA THERAPEUTICS INC 0.01% 10,000 $18K Add +87.5%

Portfolio Sells Q1 2025 → Q2 2025
BOXX Alpha Architect 1-3 MNTH Box Reduce -82.9% 0.26% −1.31
OGN Organon & Co. Sold out 0.00% −0.79
VFC VF Corp. Reduce -33.9% 0.61% −0.66
GEHC GE Healthcare Technology Reduce -38.3% 0.54% −0.45
ABBV Abbvie Inc. Reduce -0.1% 1.89% −0.33
MGM MGM Resorts International Reduce -39.8% 0.66% −0.32
MRK Merck & Co. Inc. Reduce -0.4% 1.28% −0.23
CTRA Coterra Energy Inc. Reduce -1.1% 1.17% −0.23
LLY Eli Lilly & Co. Reduce -0.6% 1.77% −0.19
AAPL Apple Inc. Reduce -0.0% 1.09% −0.13
SEM Select Medical Holdings Corp. Sold out 0.00% −0.13
GIS General Mills Inc. Reduce -12.0% 0.36% −0.13
DVA Davita Inc. Reduce -0.2% 1.03% −0.12
JNJ Johnson & Johnson Reduce -11.8% 0.38% −0.10
COP Conocophillips Reduce -3.5% 0.27% −0.07
NVR NVR Inc. Reduce -0.2% 2.73% −0.05
WAL Western Alliance Bancorp Reduce -0.1% 1.23% −0.03
HD Home Depot Inc. Reduce -2.7% 0.43% −0.03
MMM 3M Co. Reduce -0.9% 2.20% −0.02
HON Honeywell International Inc. Reduce -8.6% 0.26% −0.01
ZION Zions Bancorp NA Reduce -3.8% 0.19% −0.01
LMT Lockheed Martin Corp. Reduce -0.4% 0.96% −0.00
MS Morgan Stanley Reduce -2.6% 0.58% +0.07
RTX RTX Corp. Reduce -0.1% 1.83% +0.11
GOOG Alphabet Inc. Class C Reduce -0.5% 1.37% +0.11
JPM JPMorgan Chase & Co. Reduce -0.2% 1.47% +0.18
DKNG Draftkings Inc. Class A Reduce -0.8% 0.94% +0.18
C Citigroup Inc. Reduce -3.2% 1.85% +0.20
TBBK The Bancorp Inc. Reduce -0.4% 6.45% +0.22
GEV GE Vernova Inc. Reduce -0.1% 0.78% +0.31
GE General Electric Reduce -2.8% 2.97% +0.50

Portfolio Buys Q1 2025 → Q2 2025
PRUFX T Rowe PR Growth Stock-I New 1.25% +1.25
TFIN Triumph Financial Inc. Add +33.2% 2.25% +0.41
PFE Pfizer Inc. Add +37.4% 1.64% +0.34
ALRS Alerus Financial Corp. Add +9.6% 1.74% +0.33
MCB Metropolitan Bank Holding Co. Add +8.5% 1.33% +0.31
CUBI Customers Bancorp Inc. Add +4.7% 1.73% +0.26
VFIAX Vanguard 500 Index-Adm New 0.23% +0.23
MVBF MVB Financial Corp. Add +12.0% 0.70% +0.20
EGBN Eagle Bancorp Inc. New 0.18% +0.18
CF CF Industries Holdings Inc. Add +7.2% 0.97% +0.17
IREN Iren Ltd. Add +28.6% 0.26% +0.17
OMF Onemain Holdings Inc. Add +1.3% 1.36% +0.17
IBM Intl Business Machines Corp. New 0.16% +0.16
TXT Textron Inc. New 0.15% +0.15
MYFW First Western Financial Inc. Add +12.6% 0.74% +0.15
GT Goodyear Tire & Rubber Co. Add +2.4% 1.36% +0.13
FXAIX Fidelity 500 Index Fund Add +1.7% 1.65% +0.13
BWB Bridgewater Bancshares Inc. Add +1.5% 1.13% +0.12
BA The Boeing Co. Add +4.0% 0.53% +0.10
SYBT Stock Yards Bancorp Inc. Add +0.0% 1.03% +0.10
DIS The Walt Disney Co. Add +0.3% 0.54% +0.10
LKFN Lakeland Financial Corp. Add +9.8% 1.06% +0.09
EQBK Equity Bancshares Inc. Class A Add +9.1% 0.75% +0.06
CASH Pathward Financial Inc. Add +0.1% 1.26% +0.06
WULF Terawulf Inc. Add +15.8% 0.11% +0.05
CIFR Cipher Digital Inc. Add +6.7% 0.07% +0.04
SBLK Star Bulk Carriers Corp. Add +0.1% 0.27% +0.02
VBTX Veritex Holdings Inc. Add +0.1% 1.81% +0.01
ERNEXA THERAPEUTICS INC Add +87.5% 0.01% +0.00
PEP Pepsico Inc. Add +15.2% 0.43% −0.01
BANC Banc of California Inc. Add +1.2% 1.31% −0.05
OKE Oneok Inc. Add +0.8% 0.18% −0.05
EPD Enterprise Products Partners Add +3.3% 0.46% −0.05
BF.A Brown-Forman Corp. Class A Add +0.0% 0.20% −0.05
SM SM Energy Co. Add +0.7% 0.28% −0.07
BF.B Brown-Forman Corp. Class B Add +1.0% 0.30% −0.09
MOFG Midwestone Financial Group I Add +0.3% 1.38% −0.09
LEN Lennar Corp. Class A Add +0.0% 1.38% −0.11
COLB Columbia Banking System Inc. Add +2.6% 1.88% −0.15
CVX Chevron Corp. Add +0.1% 1.98% −0.42
BMY Bristol-Myers Squibb Co. Add +1.4% 1.90% −0.66

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