Sterling Investment Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Sterling Investment Management, LLC reported 69 stock positions worth $176.3 million. Its top holding was Vanguard Mortgage-Backed Sec (VMBS) at 8.7% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.5%) and SPDR Gold Shares (GLD, 7.7%). Compared with Q3 2025, it opened 8 new positions, sold out of 5, added to 18 and reduced 37. The biggest buy was a new position in Vanguard 0-3M T-Bill ETF (VBIL) and the biggest sale an exit from SS SPDR BB 1-3M T-Bill ETF (BIL).
- Most Recent 13F
- Q2 2026
- Location
- TUCSON, AZ
- CIK
- 0001509873
- Portfolio Value
- $176.3M (Q4 2025)
- SEC Filing
- 0001509873-26-000002 ↗ filed Feb 3, 2026
Holdings Value
Holdings 69 stocks · $176.3M
| VMBS Vanguard Mortgage-Backed Sec | 8.70% | 325,874 | $15.3M | Add +0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 8.53% | 29,912 | $15.0M | Reduce -0.2% |
| GLD SPDR Gold Shares | 7.68% | 34,164 | $13.5M | Reduce -2.8% |
| GE General Electric filed as GE AEROSPACE | 4.53% | 25,928 | $8.0M | Add +42.0% |
| GOOG Alphabet Inc. Class C | 4.27% | 24,007 | $7.5M | Add +6.1% |
| MSFT Microsoft Corp. | 3.98% | 14,497 | $7.0M | Add +59.8% |
| SPGI S&P Global Inc. | 3.90% | 13,171 | $6.9M | Add +12.1% |
| V Visa Inc. Class A | 3.55% | 17,832 | $6.3M | Add +43.7% |
| MCO Moody's Corp. | 3.15% | 10,869 | $5.6M | Add +19.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 3.00% | 7 | $5.3M | No change |
| PEP Pepsico Inc. | 2.74% | 33,705 | $4.8M | Add +59.9% |
| AMLP Alerian MLP ETF | 2.69% | 100,723 | $4.7M | Reduce -0.8% |
| BSV Vanguard Short-Term Bond ETF | 2.50% | 55,849 | $4.4M | Add +2.1% |
| CP Canadian Pacific Kansas City | 2.13% | 51,018 | $3.8M | Reduce -2.4% |
| WMT Walmart Inc. | 1.97% | 31,207 | $3.5M | Reduce -1.5% |
| CCJ Cameco Corp. | 1.79% | 34,553 | $3.2M | Reduce -1.4% |
| CNI Canadian Natl Railway Co. | 1.77% | 31,660 | $3.1M | Reduce -16.3% |
| VBIL Vanguard 0-3M T-Bill ETF | 1.69% | 39,433 | $3.0M | New |
| BIV Vanguard Intermediate-Term B | 1.66% | 37,618 | $2.9M | Reduce -2.4% |
| GS Goldman Sachs Group Inc. | 1.51% | 3,039 | $2.7M | Reduce -1.2% |
| AAPL Apple Inc. | 1.46% | 9,481 | $2.6M | Add +3.8% |
| JNJ Johnson & Johnson | 1.33% | 11,334 | $2.3M | Reduce -1.3% |
| BA The Boeing Co. | 1.32% | 10,719 | $2.3M | Reduce -0.9% |
| ABBV Abbvie Inc. | 1.28% | 9,844 | $2.2M | Reduce -0.7% |
| BNDX Vanguard Total Intl Bond ETF | 1.23% | 44,979 | $2.2M | New |
| SCHZ Schwab US Aggregate Bond ETF | 1.14% | 86,013 | $2.0M | Add +35.0% |
| TMO Thermo Fisher Scientific Inc. | 1.11% | 3,383 | $2.0M | Reduce -1.8% |
| VWO Vanguard Ftse Emerging Marke | 1.00% | 32,915 | $1.8M | Add +1.6% |
| KMB Kimberly-Clark Corp. | 1.00% | 17,424 | $1.8M | New |
| SAP Sap SE-Sponsored ADR | 0.86% | 6,224 | $1.5M | New |
| VEA Vanguard Ftse Developed ETF | 0.84% | 23,753 | $1.5M | Add +4.9% |
| WM Waste Management Inc. | 0.81% | 6,474 | $1.4M | Reduce -0.3% |
| WFC Wells Fargo & Co. | 0.80% | 15,071 | $1.4M | Reduce -1.1% |
| RSG Republic Services Inc. | 0.75% | 6,233 | $1.3M | Reduce -0.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.74% | 16,324 | $1.3M | Reduce -2.1% |
| FER Ferrovial NV | 0.72% | 19,718 | $1.3M | Add +0.4% |
| INDA iShares MSCI India ETF | 0.71% | 23,177 | $1.3M | Reduce -1.4% |
| JOE The St Joe Co. | 0.70% | 20,819 | $1.2M | Reduce -1.2% |
| QCOM Qualcomm Inc. | 0.65% | 6,728 | $1.2M | Reduce -0.6% |
| TFC Truist Financial Corp. | 0.56% | 20,078 | $988K | Reduce -0.5% |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.55% | 10,155 | $962K | Reduce -0.6% |
| DHR Danaher Corp. | 0.53% | 4,056 | $929K | Reduce -0.2% |
| SCHD Schwab US DVD Equity ETF | 0.52% | 33,578 | $921K | New |
| XLK SS Technology Select Sector | 0.52% | 6,386 | $919K | Reduce -9.5% |
| CVX Chevron Corp. | 0.50% | 5,833 | $889K | Add +1.1% |
| PFE Pfizer Inc. | 0.50% | 35,431 | $882K | New |
| AVB Avalonbay Communities Inc. | 0.50% | 4,823 | $874K | Reduce -19.0% |
| VZ Verizon Communications Inc. | 0.47% | 20,224 | $824K | Reduce -0.1% |
| PSA Public Storage | 0.44% | 3,023 | $784K | Reduce -0.7% |
| MO Altria Group Inc. | 0.44% | 13,605 | $784K | Reduce -0.3% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.42% | 26,403 | $742K | Reduce -0.4% |
| BLV Vanguard Long-Term Bond ETF | 0.41% | 10,434 | $725K | New |
| UNH Unitedhealth Group Inc. | 0.38% | 2,008 | $663K | Reduce -53.1% |
| SCHF Schwab Intl Equity ETF | 0.35% | 26,031 | $626K | Reduce -3.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.34% | 1,800 | $603K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.26% | 9,089 | $462K | Reduce -54.4% |
| JPM JPMorgan Chase & Co. | 0.26% | 1,398 | $450K | No change |
| IJR iShares Core S&P Small-Cap E | 0.22% | 3,193 | $384K | Add +13.0% |
| XLF SS Financial Select Sector | 0.21% | 6,790 | $372K | Reduce -4.1% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.16% | 8,879 | $291K | Reduce -1.0% |
| XLY SS Consumer Disc Select Sect | 0.16% | 2,407 | $287K | Add +5.0% |
| NVDA Nvidia Corp. | 0.16% | 1,497 | $279K | No change |
| PG The Procter & Gamble Co. | 0.16% | 1,935 | $277K | Add +0.1% |
| XLC SS Comm Select Sector SPDR | 0.15% | 2,236 | $263K | Reduce -5.8% |
| FDL First Trust Morn DVD Lead Inc. | 0.15% | 5,800 | $257K | No change |
| META Meta Platforms Inc. Class A | 0.13% | 344 | $227K | New |
| VYM Vanguard High DVD Yield ETF | 0.12% | 1,500 | $215K | No change |
| XLV SS Health Care Select Sector | 0.12% | 1,382 | $214K | Reduce -38.6% |
| XLI SS Industrial Select Sector | 0.12% | 1,348 | $209K | Reduce -20.4% |
Portfolio Sells Q3 2025 → Q4 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −4.09 |
| SH Proshares Short S&P500 | Sold out | 0.00% | −2.22 |
| PSQ Proshares Short QQQ | Sold out | 0.00% | −1.44 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −1.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 8.53% | −0.52 |
| UNH Unitedhealth Group Inc. | Reduce -53.1% | 0.38% | −0.51 |
| TELFY Telefonica SA-Spon ADR | Sold out | 0.00% | −0.51 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -54.4% | 0.26% | −0.40 |
| CNI Canadian Natl Railway Co. | Reduce -16.3% | 1.77% | −0.37 |
| CP Canadian Pacific Kansas City | Reduce -2.4% | 2.13% | −0.21 |
| AVB Avalonbay Communities Inc. | Reduce -19.0% | 0.50% | −0.19 |
| AMLP Alerian MLP ETF | Reduce -0.8% | 2.69% | −0.17 |
| BIV Vanguard Intermediate-Term B | Reduce -2.4% | 1.66% | −0.15 |
| RSG Republic Services Inc. | Reduce -0.5% | 0.75% | −0.11 |
| ABBV Abbvie Inc. | Reduce -0.7% | 1.28% | −0.10 |
| VICI Vici Properties Inc. | Reduce -0.4% | 0.42% | −0.10 |
| MO Altria Group Inc. | Reduce -0.3% | 0.44% | −0.10 |
| PSA Public Storage | Reduce -0.7% | 0.44% | −0.08 |
| BA The Boeing Co. | Reduce -0.9% | 1.32% | −0.08 |
| XLK SS Technology Select Sector | Reduce -9.5% | 0.52% | −0.08 |
| VZ Verizon Communications Inc. | Reduce -0.1% | 0.47% | −0.07 |
| XLV SS Health Care Select Sector | Reduce -38.6% | 0.12% | −0.07 |
| WM Waste Management Inc. | Reduce -0.3% | 0.81% | −0.05 |
| XLI SS Industrial Select Sector | Reduce -20.4% | 0.12% | −0.04 |
| INDA iShares MSCI India ETF | Reduce -1.4% | 0.71% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -0.6% | 0.65% | −0.02 |
| SCHF Schwab Intl Equity ETF | Reduce -3.2% | 0.35% | −0.02 |
| XLC SS Comm Select Sector SPDR | Reduce -5.8% | 0.15% | −0.02 |
| XLF SS Financial Select Sector | Reduce -4.1% | 0.21% | −0.02 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -1.0% | 0.16% | −0.01 |
| TFC Truist Financial Corp. | Reduce -0.5% | 0.56% | +0.01 |
| WMT Walmart Inc. | Reduce -1.5% | 1.97% | +0.01 |
| CCJ Cameco Corp. | Reduce -1.4% | 1.79% | +0.03 |
| WFC Wells Fargo & Co. | Reduce -1.1% | 0.80% | +0.03 |
| KOF Coca-Cola Femsa Sab-SP ADR | Reduce -0.6% | 0.55% | +0.04 |
| DHR Danaher Corp. | Reduce -0.2% | 0.53% | +0.04 |
| GS Goldman Sachs Group Inc. | Reduce -1.2% | 1.51% | +0.04 |
| JNJ Johnson & Johnson | Reduce -1.3% | 1.33% | +0.05 |
| JOE The St Joe Co. | Reduce -1.2% | 0.70% | +0.07 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -2.1% | 0.74% | +0.08 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.8% | 1.11% | +0.11 |
| GLD SPDR Gold Shares | Reduce -2.8% | 7.68% | +0.18 |
Portfolio Buys Q3 2025 → Q4 2025
| VBIL Vanguard 0-3M T-Bill ETF | New | 1.69% | +1.69 |
| BNDX Vanguard Total Intl Bond ETF | New | 1.23% | +1.23 |
| GE General Electric | Add +42.0% | 4.53% | +1.23 |
| MSFT Microsoft Corp. | Add +59.8% | 3.98% | +1.15 |
| V Visa Inc. Class A | Add +43.7% | 3.55% | +1.00 |
| KMB Kimberly-Clark Corp. | New | 1.00% | +1.00 |
| PEP Pepsico Inc. | Add +59.9% | 2.74% | +0.97 |
| GOOG Alphabet Inc. Class C | Add +6.1% | 4.27% | +0.96 |
| SAP Sap SE-Sponsored ADR | New | 0.86% | +0.86 |
| MCO Moody's Corp. | Add +19.1% | 3.15% | +0.54 |
| SCHD Schwab US DVD Equity ETF | New | 0.52% | +0.52 |
| PFE Pfizer Inc. | New | 0.50% | +0.50 |
| SPGI S&P Global Inc. | Add +12.1% | 3.90% | +0.47 |
| BLV Vanguard Long-Term Bond ETF | New | 0.41% | +0.41 |
| SCHZ Schwab US Aggregate Bond ETF | Add +35.0% | 1.14% | +0.24 |
| META Meta Platforms Inc. Class A | New | 0.13% | +0.13 |
| AAPL Apple Inc. | Add +3.8% | 1.46% | +0.06 |
| FER Ferrovial NV | Add +0.4% | 0.72% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +4.9% | 0.84% | +0.03 |
| IJR iShares Core S&P Small-Cap E | Add +13.0% | 0.22% | +0.02 |
| XLY SS Consumer Disc Select Sect | Add +5.0% | 0.16% | −0.00 |
| PG The Procter & Gamble Co. | Add +0.1% | 0.16% | −0.02 |
| CVX Chevron Corp. | Add +1.1% | 0.50% | −0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +1.6% | 1.00% | −0.05 |
| BSV Vanguard Short-Term Bond ETF | Add +2.1% | 2.50% | −0.10 |
| VMBS Vanguard Mortgage-Backed Sec | Add +0.6% | 8.70% | −0.44 |
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 |