Sterling Investment Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 17, 2025), Sterling Investment Management, LLC reported 56 stock positions worth $127.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 12.3% of the portfolio, followed by SPDR Gold Shares (GLD, 7.0%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 5.3%). Compared with Q3 2024, it opened 5 new positions, sold out of 6, added to 9 and reduced 38. The biggest buy was a new position in Vanguard Short-Term Bond ETF (BSV) and the biggest sale an exit from Vanguard Total Bond Market (BND).
- Most Recent 13F
- Q2 2026
- Location
- TUCSON, AZ
- CIK
- 0001509873
- Portfolio Value
- $127.4M (Q4 2024)
- SEC Filing
- 0001509873-25-000002 ↗ filed Jan 17, 2025
Holdings Value
Holdings 56 stocks · $127.4M
| BRK.B Berkshire Hathaway Inc. Class B | 12.25% | 34,433 | $15.6M | Reduce -0.3% |
| GLD SPDR Gold Shares | 6.95% | 36,580 | $8.9M | Add +10.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 5.28% | 73,561 | $6.7M | Reduce -25.6% |
| GOOG Alphabet Inc. Class C | 3.83% | 25,609 | $4.9M | Reduce -1.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 3.74% | 7 | $4.8M | No change |
| CNI Canadian Natl Railway Co. | 3.74% | 46,868 | $4.8M | Add +29.2% |
| BSV Vanguard Short-Term Bond ETF | 3.37% | 55,541 | $4.3M | New |
| AAPL Apple Inc. | 3.25% | 16,542 | $4.1M | Reduce -2.0% |
| MSFT Microsoft Corp. | 3.06% | 9,241 | $3.9M | Reduce -1.3% |
| CP Canadian Pacific Kansas City | 2.83% | 49,845 | $3.6M | Reduce -1.5% |
| V Visa Inc. Class A | 2.78% | 11,210 | $3.5M | Reduce -1.1% |
| OXY Occidental Petroleum Corp. | 2.48% | 64,050 | $3.2M | Reduce -1.7% |
| WMT Walmart Inc. | 2.25% | 31,737 | $2.9M | Reduce -1.4% |
| BIV Vanguard Intermediate-Term B | 2.23% | 37,970 | $2.8M | New |
| SPGI S&P Global Inc. | 2.10% | 5,380 | $2.7M | Reduce -1.3% |
| ABBV Abbvie Inc. | 2.06% | 14,778 | $2.6M | Reduce -1.4% |
| MCO Moody's Corp. | 1.98% | 5,337 | $2.5M | Reduce -1.2% |
| GS Goldman Sachs Group Inc. | 1.92% | 4,265 | $2.4M | Reduce -1.2% |
| CCJ Cameco Corp. | 1.87% | 46,330 | $2.4M | Reduce -1.6% |
| TMO Thermo Fisher Scientific Inc. | 1.87% | 4,575 | $2.4M | Reduce -1.4% |
| BABA Alibaba Group Holding-SP ADR | 1.74% | 26,138 | $2.2M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 1.72% | 4,327 | $2.2M | Reduce -1.2% |
| VMBS Vanguard Mortgage-Backed Sec | 1.67% | 47,028 | $2.1M | New |
| GE General Electric filed as GE AEROSPACE | 1.67% | 12,741 | $2.1M | Add +138.9% |
| BA The Boeing Co. | 1.53% | 11,043 | $2.0M | Add +35.6% |
| JNJ Johnson & Johnson | 1.52% | 13,421 | $1.9M | Reduce -1.7% |
| SH Proshares Short S&P500 | 1.42% | 42,746 | $1.8M | New |
| AVB Avalonbay Communities Inc. | 1.29% | 7,441 | $1.6M | Reduce -17.7% |
| CMCSA Comcast Corp. Class A | 1.23% | 41,856 | $1.6M | Reduce -1.7% |
| VWO Vanguard Ftse Emerging Marke | 1.22% | 35,237 | $1.6M | Reduce -33.6% |
| AMLP Alerian MLP ETF | 1.18% | 31,124 | $1.5M | Add +44.0% |
| SCHZ Schwab US Aggregate Bond ETF | 1.13% | 63,155 | $1.4M | Add +6.6% |
| WM Waste Management Inc. | 1.04% | 6,549 | $1.3M | Reduce -1.1% |
| INDA iShares MSCI India ETF | 1.01% | 24,427 | $1.3M | Reduce -1.6% |
| RSG Republic Services Inc. | 0.99% | 6,241 | $1.3M | Reduce -1.4% |
| VEA Vanguard Ftse Developed ETF | 0.98% | 26,168 | $1.3M | Add +48.5% |
| WFC Wells Fargo & Co. | 0.87% | 15,806 | $1.1M | Reduce -1.3% |
| QCOM Qualcomm Inc. | 0.85% | 7,037 | $1.1M | Reduce -1.6% |
| DHR Danaher Corp. | 0.79% | 4,386 | $1.0M | Reduce -2.2% |
| BTI British American Tob-SP ADR | 0.73% | 25,445 | $924K | Reduce -1.4% |
| CVX Chevron Corp. | 0.71% | 6,208 | $899K | Reduce -1.6% |
| XLK SS Technology Select Sector | 0.70% | 3,862 | $898K | Reduce -9.5% |
| XOM Exxon Mobil Corp. | 0.66% | 7,835 | $843K | Reduce -63.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.45% | 1,960 | $568K | No change |
| SCHF Schwab Intl Equity ETF | 0.39% | 26,897 | $498K | Add +53.6% |
| XLF SS Financial Select Sector | 0.29% | 7,691 | $372K | Reduce -21.5% |
| IJR iShares Core S&P Small-Cap E | 0.29% | 3,215 | $370K | New |
| NVDA Nvidia Corp. | 0.28% | 2,622 | $352K | Reduce -7.1% |
| XLV SS Health Care Select Sector | 0.26% | 2,440 | $336K | Reduce -9.7% |
| JPM JPMorgan Chase & Co. | 0.26% | 1,398 | $335K | No change |
| PG The Procter & Gamble Co. | 0.26% | 1,983 | $332K | Add +0.1% |
| XLY SS Consumer Disc Select Sect | 0.22% | 1,261 | $283K | Reduce -26.5% |
| XLI SS Industrial Select Sector | 0.21% | 2,027 | $267K | Reduce -11.2% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.20% | 9,645 | $257K | Reduce -50.5% |
| XLC SS Comm Select Sector SPDR | 0.20% | 2,599 | $252K | Reduce -22.9% |
| FDL First Trust Morn DVD Lead Inc. | 0.18% | 5,800 | $234K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| BND Vanguard Total Bond Market | Sold out | 0.00% | −5.72 |
| JD Jd.com Inc.-ADR | Sold out | 0.00% | −1.80 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -25.6% | 5.28% | −1.61 |
| XOM Exxon Mobil Corp. | Reduce -63.9% | 0.66% | −1.27 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.74 |
| VWO Vanguard Ftse Emerging Marke | Reduce -33.6% | 1.22% | −0.71 |
| CP Canadian Pacific Kansas City | Reduce -1.5% | 2.83% | −0.45 |
| BABA Alibaba Group Holding-SP ADR | Reduce -0.9% | 1.74% | −0.38 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.4% | 1.87% | −0.31 |
| AVB Avalonbay Communities Inc. | Reduce -17.7% | 1.29% | −0.26 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -50.5% | 0.20% | −0.23 |
| UNH Unitedhealth Group Inc. | Reduce -1.2% | 1.72% | −0.22 |
| ABBV Abbvie Inc. | Reduce -1.4% | 2.06% | −0.18 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.16 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.16 |
| DHR Danaher Corp. | Reduce -2.2% | 0.79% | −0.16 |
| JNJ Johnson & Johnson | Reduce -1.7% | 1.52% | −0.15 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.15 |
| CMCSA Comcast Corp. Class A | Reduce -1.7% | 1.23% | −0.12 |
| INDA iShares MSCI India ETF | Reduce -1.6% | 1.01% | −0.09 |
| QCOM Qualcomm Inc. | Reduce -1.6% | 0.85% | −0.07 |
| OXY Occidental Petroleum Corp. | Reduce -1.7% | 2.48% | −0.06 |
| XLV SS Health Care Select Sector | Reduce -9.7% | 0.26% | −0.05 |
| XLF SS Financial Select Sector | Reduce -21.5% | 0.29% | −0.05 |
| XLY SS Consumer Disc Select Sect | Reduce -26.5% | 0.22% | −0.04 |
| XLC SS Comm Select Sector SPDR | Reduce -22.9% | 0.20% | −0.03 |
| SPGI S&P Global Inc. | Reduce -1.3% | 2.10% | −0.03 |
| XLK SS Technology Select Sector | Reduce -9.5% | 0.70% | −0.03 |
| XLI SS Industrial Select Sector | Reduce -11.2% | 0.21% | −0.02 |
| WM Waste Management Inc. | Reduce -1.1% | 1.04% | −0.01 |
| CVX Chevron Corp. | Reduce -1.6% | 0.71% | +0.00 |
| MSFT Microsoft Corp. | Reduce -1.3% | 3.06% | +0.00 |
| BTI British American Tob-SP ADR | Reduce -1.4% | 0.73% | +0.01 |
| NVDA Nvidia Corp. | Reduce -7.1% | 0.28% | +0.02 |
| RSG Republic Services Inc. | Reduce -1.4% | 0.99% | +0.02 |
| MCO Moody's Corp. | Reduce -1.2% | 1.98% | +0.04 |
| CCJ Cameco Corp. | Reduce -1.6% | 1.87% | +0.16 |
| WFC Wells Fargo & Co. | Reduce -1.3% | 0.87% | +0.19 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.3% | 12.25% | +0.19 |
| AAPL Apple Inc. | Reduce -2.0% | 3.25% | +0.27 |
| WMT Walmart Inc. | Reduce -1.4% | 2.25% | +0.28 |
| GS Goldman Sachs Group Inc. | Reduce -1.2% | 1.92% | +0.30 |
| V Visa Inc. Class A | Reduce -1.1% | 2.78% | +0.42 |
| GOOG Alphabet Inc. Class C | Reduce -1.0% | 3.83% | +0.55 |
Portfolio Buys Q3 2024 → Q4 2024
| BSV Vanguard Short-Term Bond ETF | New | 3.37% | +3.37 |
| BIV Vanguard Intermediate-Term B | New | 2.23% | +2.23 |
| VMBS Vanguard Mortgage-Backed Sec | New | 1.67% | +1.67 |
| SH Proshares Short S&P500 | New | 1.42% | +1.42 |
| GE General Electric | Add +138.9% | 1.67% | +0.91 |
| GLD SPDR Gold Shares | Add +10.5% | 6.95% | +0.85 |
| BA The Boeing Co. | Add +35.6% | 1.53% | +0.60 |
| CNI Canadian Natl Railway Co. | Add +29.2% | 3.74% | +0.51 |
| AMLP Alerian MLP ETF | Add +44.0% | 1.18% | +0.40 |
| IJR iShares Core S&P Small-Cap E | New | 0.29% | +0.29 |
| VEA Vanguard Ftse Developed ETF | Add +48.5% | 0.98% | +0.28 |
| SCHF Schwab Intl Equity ETF | Add +53.6% | 0.39% | +0.12 |
| SCHZ Schwab US Aggregate Bond ETF | Add +6.6% | 1.13% | +0.06 |
| PG The Procter & Gamble Co. | Add +0.1% | 0.26% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 66 | $182.3M | VMBS, BRK.B, GLD, GE, JAAA |
| Q1 2026 | 65 | $166.7M | VMBS, GLD, BRK.B, SPGI, GE |
| Q4 2025 | 69 | $176.3M | VMBS, BRK.B, GLD, GE, GOOG |
| Q3 2025 | 66 | $166.5M | VMBS, BRK.B, GLD, BIL, SPGI |
| Q2 2025 | 56 | $151.0M | BRK.B, GLD, VMBS, BIL, CNI |
| Q1 2025 | 54 | $140.5M | BRK.B, VMBS, GLD, BIL, BRK.A |
| Q4 2024 | 56 | $127.4M | BRK.B, GLD, BIL, GOOG, BRK.A |
| Q3 2024 | 57 | $131.8M | BRK.B, BIL, GLD, BND, BRK.A |
| Q2 2024 | 58 | $131.6M | BRK.B, BIL, GLD, BND, MSFT |
| Q1 2024 | 62 | $141.8M | BRK.B, BRK.A, BIL, GLD, BND |