Spectrum Asset Management, Inc. (NB/CA)
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Spectrum Asset Management, Inc. (NB/CA) reported 104 stock positions worth $299.8 million. Its top holding was Vanguard Ultra Short Bond Et (VUSB) at 7.5% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 4.7%) and Eldridge Aaa Clo ETF (CLOX, 4.6%). Compared with Q3 2025, it opened 14 new positions, sold out of 18, added to 33 and reduced 41. The biggest buy was a new position in Eldridge Aaa Clo ETF (CLOX) and the biggest sale Oracle (ORCL, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- NEWPORT BEACH, CA
- CIK
- 0001632078
- Portfolio Value
- $299.8M (Q4 2025)
- SEC Filing
- 0001632078-26-000003 ↗ filed Jan 26, 2026
Holdings Value
Holdings 104 stocks · $299.8M
| VUSB Vanguard Ultra Short Bond Et | 7.52% | 452,395 | $22.5M | Add +5.6% |
| RSP Invesco S&P 500 Equal Weight | 4.68% | 73,245 | $14.0M | Add +6.6% |
| CLOX Eldridge Aaa Clo ETF | 4.65% | 545,921 | $13.9M | New |
| IAU iShares Gold Trust | 4.56% | 168,524 | $13.7M | Add +5.1% |
| SCHV Schwab US Large-Cap Value | 4.04% | 408,908 | $12.1M | Reduce -0.5% |
| DSEP FT Vest U.S. Equity Deep Buf | 3.89% | 259,689 | $11.7M | Reduce -2.6% |
| USMV iShares MSCI USA Min Vol Fac | 3.86% | 122,762 | $11.6M | Reduce -0.3% |
| DMAR FT Vest US Equity Deep Buffe | 3.26% | 234,763 | $9.8M | Reduce -1.6% |
| SCHG Schwab US Large-Cap Growth | 2.33% | 213,707 | $7.0M | Add +0.8% |
| DFEB FT Vest U.S. Equity Deep Buf | 2.22% | 139,441 | $6.7M | Reduce -1.9% |
| DMAY FT Vest US Equity Deep Buffe | 2.05% | 135,514 | $6.1M | Reduce -0.9% |
| VGK Vanguard Ftse Europe ETF | 2.04% | 73,289 | $6.1M | Reduce -1.5% |
| GOOG Alphabet Inc. Class C | 2.01% | 19,157 | $6.0M | Reduce -10.6% |
| MSFT Microsoft Corp. | 1.94% | 12,047 | $5.8M | Reduce -0.1% |
| VYMI Vanguard Int High DVD YLD Inc. | 1.90% | 63,263 | $5.7M | Add +15.0% |
| SCHR Schwab Intermediate-Term US | 1.88% | 224,809 | $5.6M | Add +183.0% |
| SCHF Schwab Intl Equity ETF | 1.85% | 230,986 | $5.6M | Add +16.4% |
| DDEC FT Vest U.S. Equity Deep Buf | 1.80% | 119,993 | $5.4M | New |
| WMT Walmart Inc. | 1.66% | 44,624 | $5.0M | Reduce -1.7% |
| HECA Hedgeye Capital Allocat ETF | 1.64% | 177,524 | $4.9M | New |
| CSCO Cisco Systems Inc. | 1.59% | 61,944 | $4.8M | Reduce -4.1% |
| XOM Exxon Mobil Corp. | 1.56% | 38,864 | $4.7M | Reduce -5.5% |
| CVX Chevron Corp. | 1.53% | 30,064 | $4.6M | Reduce -4.9% |
| ABBV Abbvie Inc. | 1.38% | 18,085 | $4.1M | Reduce -12.0% |
| HON Honeywell International Inc. | 1.35% | 20,754 | $4.0M | Reduce -7.2% |
| SCHW Schwab (charles) Corp. | 1.33% | 40,034 | $4.0M | Reduce -24.5% |
| EME Emcor Group Inc. | 1.30% | 6,373 | $3.9M | Reduce -0.9% |
| LHX L3HARRIS Technologies Inc. | 1.25% | 12,724 | $3.7M | Reduce -16.3% |
| NVS Novartis AG-Sponsored ADR | 1.21% | 26,288 | $3.6M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.20% | 7,177 | $3.6M | Reduce -3.5% |
| MDT Medtronic PLC | 1.17% | 36,182 | $3.5M | Reduce -11.9% |
| DUK Duke Energy Corp. | 1.15% | 29,516 | $3.5M | Reduce -12.8% |
| ORCL Oracle Corp. | 1.15% | 17,702 | $3.5M | Reduce -34.0% |
| EMR Emerson Electric Co. | 1.06% | 23,873 | $3.2M | Reduce -13.7% |
| SCJ iShares MSCI Japan Small-Cap | 1.03% | 33,527 | $3.1M | Add +12.2% |
| EWZ iShares MSCI Brazil ETF | 1.02% | 95,984 | $3.1M | Add +16.0% |
| EW Edwards Lifesciences Corp. | 1.02% | 35,770 | $3.0M | Reduce -8.2% |
| EWW iShares MSCI Mexico ETF | 1.01% | 43,792 | $3.0M | Add +16.5% |
| AAAU Goldman Sachs Physical Gold | 1.00% | 70,786 | $3.0M | Reduce -0.8% |
| ABT Abbott Laboratories | 0.91% | 21,752 | $2.7M | Reduce -12.9% |
| XLE SS Energy Select Sector | 0.83% | 55,821 | $2.5M | Add +20.1% |
| FLJP Franklin Ftse Japan ETF | 0.77% | 67,429 | $2.3M | Add +15.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.76% | 3 | $2.3M | No change |
| ESGU iShares ESG Aware MSCI USA | 0.75% | 15,145 | $2.3M | Add +22.7% |
| SCHB Schwab US Broad Market ETF | 0.70% | 80,556 | $2.1M | Reduce -0.4% |
| LIN Linde PLC | 0.67% | 4,714 | $2.0M | Reduce -45.1% |
| LNG Cheniere Energy Inc. | 0.64% | 9,917 | $1.9M | Reduce -17.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.63% | 2,781 | $1.9M | Add +1.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.55% | 3,382 | $1.6M | Reduce -5.2% |
| GOOGL Alphabet Inc. Class A | 0.52% | 5,021 | $1.6M | Reduce -6.7% |
| DNOV FT Vest US Equity Deep Buffe | 0.46% | 28,381 | $1.4M | Add +14.4% |
| V Visa Inc. Class A | 0.45% | 3,829 | $1.3M | Add +0.1% |
| MCK McKesson Corp. | 0.44% | 1,600 | $1.3M | No change |
| COST Costco Wholesale Corp. | 0.43% | 1,492 | $1.3M | Reduce -0.1% |
| RTX RTX Corp. | 0.43% | 6,972 | $1.3M | Reduce -3.2% |
| AAPL Apple Inc. | 0.39% | 4,267 | $1.2M | Reduce -1.0% |
| ESLT Elbit Systems Ltd. | 0.28% | 1,436 | $830K | No change |
| VEA Vanguard Ftse Developed ETF | 0.26% | 12,283 | $767K | Reduce -1.4% |
| TLT iShares 20+ Year Treasury BD | 0.24% | 8,370 | $730K | No change |
| DOCT FT Vest U.S. Equity Deep Buf | 0.23% | 15,460 | $685K | Add +203.1% |
| CIBR First Trust Nasdaq Cybersecu | 0.23% | 9,500 | $679K | Add +14.4% |
| VONE Vanguard Russell 1000 | 0.22% | 2,154 | $666K | Add +2.9% |
| MCD McDonald's Corp. | 0.22% | 2,145 | $656K | Add +0.3% |
| IBTH iShares Ibonds Dec 2027 Term | 0.21% | 28,508 | $641K | Add +1.6% |
| SHY iShares 1-3 Year Treasury Bo | 0.21% | 7,500 | $621K | New |
| ASML ASML Holding NV-NY Reg SHS | 0.18% | 502 | $537K | Reduce -29.7% |
| DE Deere & Co. | 0.18% | 1,127 | $527K | Add +0.4% |
| JOF Japan Smaller Capitalization | 0.17% | 47,055 | $521K | New |
| QCOM Qualcomm Inc. | 0.17% | 3,023 | $517K | New |
| FNV Franco-Nevada Corp. | 0.17% | 2,459 | $510K | New |
| LLY Eli Lilly & Co. | 0.17% | 465 | $500K | New |
| EWJ iShares MSCI Japan ETF | 0.16% | 5,930 | $479K | New |
| VTI VG Morningstar TS MKT ETF-US | 0.16% | 1,408 | $472K | Reduce -6.0% |
| PFE Pfizer Inc. | 0.15% | 18,398 | $458K | Add +3.3% |
| RMD Resmed Inc. | 0.15% | 1,878 | $452K | New |
| IBTG iShares Ibonds Dec 2026 Term | 0.15% | 19,243 | $440K | Add +1.4% |
| TSLA Tesla Inc. | 0.15% | 978 | $440K | No change |
| SRE Sempra | 0.14% | 4,742 | $422K | Reduce -1.9% |
| MORN Morningstar Inc. | 0.13% | 1,819 | $395K | Add +0.2% |
| GLD SPDR Gold Shares | 0.13% | 988 | $392K | No change |
| MLPA Global X MLP ETF | 0.13% | 7,990 | $387K | Add +2.0% |
| NVDA Nvidia Corp. | 0.13% | 2,052 | $383K | No change |
| AMZN Amazon.com Inc. | 0.13% | 1,623 | $375K | Add +59.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.12% | 1,200 | $355K | No change |
| IVV iShares Core S&P 500 ETF | 0.12% | 504 | $345K | Add +8.6% |
| GE General Electric filed as GE AEROSPACE | 0.11% | 1,105 | $341K | No change |
| PEP Pepsico Inc. | 0.10% | 2,153 | $312K | No change |
| IBTI iShares Ibonds Dec 2028 Term | 0.10% | 13,803 | $309K | New |
| ANET Arista Networks Inc. | 0.10% | 2,199 | $288K | Reduce -19.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.10% | 634 | $287K | New |
| PANW Palo Alto Networks Inc. | 0.09% | 1,528 | $281K | No change |
| DJUL FT Vest US Equity Deep Buffe | 0.09% | 5,845 | $278K | Reduce -2.1% |
| DAPR FT Vest U.S. Equity Deep Buf | 0.09% | 6,965 | $274K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 4,980 | $274K | Add +0.0% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.08% | 5,539 | $246K | No change |
| CAT Caterpillar Inc. | 0.08% | 410 | $235K | New |
| MELI MercadoLibre Inc. | 0.08% | 115 | $232K | No change |
| SOLS Solstice Adv Materials Inc. | 0.08% | 4,698 | $228K | Reduce -16.0% |
| BEAT Heartbeam Inc. | 0.08% | 94,400 | $227K | Add +26.9% |
| CMG Chipotle Mexican Grill Inc. | 0.07% | 6,037 | $223K | Add +9.9% |
Options reported separately and not counted above: NVDA puts ($14K), CMG calls ($13K), AAPL puts ($1K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $7K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TNONW Tenon Medical Inc.-28 | *W EXP 06/16/202 | 679,420 | $7K | Reduce -25.7% |
Total filed on the 13F, all lines: $299.8M.
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -34.0% | 1.15% | −1.50 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −1.16 |
| MLPX Global X MLP & Energy Infras | Sold out | 0.00% | −0.86 |
| LIN Linde PLC | Reduce -45.1% | 0.67% | −0.76 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.72 |
| EWA iShares MSCI Australia ETF | Sold out | 0.00% | −0.65 |
| SCHW Schwab (charles) Corp. | Reduce -24.5% | 1.33% | −0.45 |
| LHX L3HARRIS Technologies Inc. | Reduce -16.3% | 1.25% | −0.39 |
| LNG Cheniere Energy Inc. | Reduce -17.5% | 0.64% | −0.35 |
| DUK Duke Energy Corp. | Reduce -12.8% | 1.15% | −0.32 |
| HON Honeywell International Inc. | Reduce -7.2% | 1.35% | −0.30 |
| ABBV Abbvie Inc. | Reduce -12.0% | 1.38% | −0.30 |
| ABT Abbott Laboratories | Reduce -12.9% | 0.91% | −0.27 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -0.3% | 3.86% | −0.26 |
| MSFT Microsoft Corp. | Reduce -0.1% | 1.94% | −0.25 |
| DSEP FT Vest U.S. Equity Deep Buf | Reduce -2.6% | 3.89% | −0.25 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.24 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.23 |
| EMR Emerson Electric Co. | Reduce -13.7% | 1.06% | −0.22 |
| MDT Medtronic PLC | Reduce -11.9% | 1.17% | −0.22 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.20 |
| CVX Chevron Corp. | Reduce -4.9% | 1.53% | −0.20 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.19 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.18 |
| AXS Axis Capital Holdings Ltd. | Sold out | 0.00% | −0.18 |
| PGR Progressive Corp. | Sold out | 0.00% | −0.17 |
| EME Emcor Group Inc. | Reduce -0.9% | 1.30% | −0.17 |
| SCHV Schwab US Large-Cap Value | Reduce -0.5% | 4.04% | −0.17 |
| MCO Moody's Corp. | Sold out | 0.00% | −0.16 |
| DMAR FT Vest US Equity Deep Buffe | Reduce -1.6% | 3.26% | −0.16 |
| ITB iShares U.S. Home Constructi | Sold out | 0.00% | −0.15 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −0.12 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.5% | 1.20% | −0.11 |
| IBTF iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.11 |
| DFEB FT Vest U.S. Equity Deep Buf | Reduce -1.9% | 2.22% | −0.11 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.10 |
| DMAY FT Vest US Equity Deep Buffe | Reduce -0.9% | 2.05% | −0.09 |
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −0.08 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.08 |
| XOM Exxon Mobil Corp. | Reduce -5.5% | 1.56% | −0.07 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -29.7% | 0.18% | −0.06 |
| COST Costco Wholesale Corp. | Reduce -0.1% | 0.43% | −0.06 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -5.2% | 0.55% | −0.05 |
| EW Edwards Lifesciences Corp. | Reduce -8.2% | 1.02% | −0.05 |
| ANET Arista Networks Inc. | Reduce -19.9% | 0.10% | −0.04 |
| VGK Vanguard Ftse Europe ETF | Reduce -1.5% | 2.04% | −0.04 |
| SCHB Schwab US Broad Market ETF | Reduce -0.4% | 0.70% | −0.03 |
| SOLS Solstice Adv Materials Inc. | Reduce -16.0% | 0.08% | −0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -6.0% | 0.16% | −0.02 |
| SRE Sempra | Reduce -1.9% | 0.14% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| CLOX Eldridge Aaa Clo ETF | New | 4.65% | +4.65 |
| DDEC FT Vest U.S. Equity Deep Buf | New | 1.80% | +1.80 |
| HECA Hedgeye Capital Allocat ETF | New | 1.64% | +1.64 |
| SCHR Schwab Intermediate-Term US | Add +183.0% | 1.88% | +1.18 |
| IAU iShares Gold Trust | Add +5.1% | 4.56% | +0.46 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +15.0% | 1.90% | +0.26 |
| SCHF Schwab Intl Equity ETF | Add +16.4% | 1.85% | +0.23 |
| SHY iShares 1-3 Year Treasury Bo | New | 0.21% | +0.21 |
| JOF Japan Smaller Capitalization | New | 0.17% | +0.17 |
| QCOM Qualcomm Inc. | New | 0.17% | +0.17 |
| FNV Franco-Nevada Corp. | New | 0.17% | +0.17 |
| LLY Eli Lilly & Co. | New | 0.17% | +0.17 |
| EWJ iShares MSCI Japan ETF | New | 0.16% | +0.16 |
| DOCT FT Vest U.S. Equity Deep Buf | Add +203.1% | 0.23% | +0.15 |
| RMD Resmed Inc. | New | 0.15% | +0.15 |
| ESGU iShares ESG Aware MSCI USA | Add +22.7% | 0.75% | +0.12 |
| EWZ iShares MSCI Brazil ETF | Add +16.0% | 1.02% | +0.12 |
| EWW iShares MSCI Mexico ETF | Add +16.5% | 1.01% | +0.11 |
| IBTI iShares Ibonds Dec 2028 Term | New | 0.10% | +0.10 |
| XLE SS Energy Select Sector | Add +20.1% | 0.83% | +0.10 |
| RSP Invesco S&P 500 Equal Weight | Add +6.6% | 4.68% | +0.10 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.10% | +0.10 |
| CAT Caterpillar Inc. | New | 0.08% | +0.08 |
| FLJP Franklin Ftse Japan ETF | Add +15.4% | 0.77% | +0.06 |
| SCJ iShares MSCI Japan Small-Cap | Add +12.2% | 1.03% | +0.06 |
| DNOV FT Vest US Equity Deep Buffe | Add +14.4% | 0.46% | +0.05 |
| AMZN Amazon.com Inc. | Add +59.9% | 0.13% | +0.05 |
| BEAT Heartbeam Inc. | Add +26.9% | 0.08% | +0.03 |
| NVS Novartis AG-Sponsored ADR | Add +0.5% | 1.21% | +0.03 |
| LDI Loandepot Inc. Class A | New | 0.01% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +8.6% | 0.12% | +0.01 |
| CIBR First Trust Nasdaq Cybersecu | Add +14.4% | 0.23% | +0.00 |
| IWB iShares Russell 1000 ETF | Add +7.8% | 0.07% | +0.00 |
| BAC Bank of America Corp. | Add +0.0% | 0.09% | +0.00 |
| VONE Vanguard Russell 1000 | Add +2.9% | 0.22% | −0.00 |
| CMG Chipotle Mexican Grill Inc. | Add +9.9% | 0.07% | −0.00 |
| MLPA Global X MLP ETF | Add +2.0% | 0.13% | −0.00 |
| DE Deere & Co. | Add +0.4% | 0.18% | −0.01 |
| IBTG iShares Ibonds Dec 2026 Term | Add +1.4% | 0.15% | −0.01 |
| PFE Pfizer Inc. | Add +3.3% | 0.15% | −0.01 |
| IBTH iShares Ibonds Dec 2027 Term | Add +1.6% | 0.21% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.5% | 0.63% | −0.01 |
| MCD McDonald's Corp. | Add +0.3% | 0.22% | −0.01 |
| VUSB Vanguard Ultra Short Bond Et | Add +5.6% | 7.52% | −0.01 |
| V Visa Inc. Class A | Add +0.1% | 0.45% | −0.01 |
| MORN Morningstar Inc. | Add +0.2% | 0.13% | −0.02 |
| SCHG Schwab US Large-Cap Growth | Add +0.8% | 2.33% | −0.05 |
Options Activity Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | put | Reduce -62.5% | 15,000 | $14K |
| CMG Chipotle Mexican Grill Inc. | call | New | 10,000 | $13K |
| AAPL Apple Inc. | put | New | 200 | $1K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| TNONW Tenon Medical Inc.-28 | *W EXP 06/16/202 | Reduce -25.7% | 679,420 | $7K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 112 | $360.2M | WFC, RSP, VUSB, SCHV, DMAY |
| Q1 2026 | 106 | $314.8M | WFC, VUSB, SCHV, RSP, IAU |
| Q4 2025 | 104 | $299.8M | VUSB, RSP, CLOX, IAU, SCHV |
| Q3 2025 | 107 | $284.4M | VUSB, RSP, SCHV, DSEP, USMV |
| Q2 2025 | 95 | $230.1M | USMV, RSP, SCHV, IAU, DMAR |
| Q1 2025 | 83 | $225.0M | SCHV, RSP, MBB, USMV, IAU |
| Q4 2024 | 93 | $222.6M | SCHV, RSP, SCHG, USMV, IAU |
| Q3 2024 | 93 | $236.4M | SCHV, IAU, RSP, USMV, SCHG |
| Q2 2024 | 92 | $216.2M | SCHV, IAU, USMV, SCHG, VGK |
| Q1 2024 | 97 | $233.1M | SCHV, DJAN, DMAR, USMV, IAU |