Summit Trail Advisors, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Summit Trail Advisors, LLC reported 1,114 stock positions worth $5.8 billion. Its top holding was Wisdomtree Floating Rate Tre (USFR) at 19.3% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 10.7%) and Broadcom (AVGO, 3.4%). Compared with Q1 2025, it opened 727 new positions, sold out of 36, added to 241 and reduced 116. The biggest buy was a new position in Vanguard S&P 500 ETF (VOO) and the biggest sale Wisdomtree Floating Rate Tre (USFR, shares −18%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001698478
Portfolio Value
$5.8B (Q2 2025)
SEC Filing
0001951757-25-001093 ↗ filed Aug 14, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $3.8B Q1 2024 Q2 2024: $3.8B Q2 2024 Q3 2024: $4.0B Q3 2024 Q4 2024: $2.7B Q4 2024 Q1 2025: $3.0B Q1 2025 Q2 2025: $5.8B $5.8B Q2 2025 Q3 2025: $7.2B Q3 2025 Q4 2025: $5.8B Q4 2025 Q1 2026: $7.0B Q1 2026 Q2 2026: $7.9B Q2 2026

Holdings 1,114 stocks · $5.8B
USFR Wisdomtree Floating Rate Tre 19.29% 22,337,497 $1.1B Reduce -18.3%
VOO Vanguard S&P 500 ETF 10.66% 1,090,394 $621.3M New
AVGO Broadcom Inc. 3.44% 727,566 $200.6M Add +4.6%
ISHG iShares -3 Year Internationa 2.88% 2,195,405 $168.1M New
RSP Invesco S&P 500 Equal Weight 2.44% 783,662 $142.4M Reduce -16.3%
VGSH Vanguard Short-Term Treasury 2.34% 2,321,017 $136.4M Reduce -2.1%
VEA Vanguard Ftse Developed ETF 2.09% 2,139,798 $122.0M New
MSFT Microsoft Corp. 2.09% 245,164 $121.9M New
AAPL Apple Inc. 1.80% 510,009 $104.6M New
NVDA Nvidia Corp. 1.60% 588,418 $93.0M Add +40.7%
VGIT Vanguard Intermediate-Term T 1.37% 1,334,517 $79.8M Reduce -28.2%
VWO Vanguard Ftse Emerging Marke 1.29% 1,523,830 $75.4M New
APH Amphenol Corp. Class A 1.22% 719,190 $71.1M New
AMZN Amazon.com Inc. 1.08% 287,428 $63.1M New
SPY SS SPDR S&P 500 ETF Trust-US 1.00% 94,037 $58.3M Add +9.2%
QUAL iShares MSCI USA Quality Fac 0.90% 287,257 $52.5M Reduce -21.3%
IWF iShares Russell 1000 Growth 0.90% 123,353 $52.4M New
GOOG Alphabet Inc. Class C 0.83% 272,508 $48.3M Add +13.2%
PLTR Palantir Technologies Inc. Class A 0.78% 334,074 $45.5M Reduce -4.9%
GOOGL Alphabet Inc. Class A 0.75% 246,716 $43.5M Add +20.4%
EXPD Expeditors Intl Wash Inc. 0.73% 374,314 $42.8M New
PPA Invesco Aerospace & Defense 0.73% 299,786 $42.5M Reduce -8.9%
AON Aon PLC Class A 0.70% 114,375 $40.8M Add +2.7%
AGG iShares Core U.S. Aggregate 0.68% 397,534 $39.4M New
VTI VG Morningstar TS MKT ETF-US 0.66% 125,692 $38.3M New
META Meta Platforms Inc. Class A 0.65% 51,573 $38.1M Add +29.9%
BRK.B Berkshire Hathaway Inc. Class B 0.60% 72,046 $35.0M New
KBWB Invesco KBW Bank ETF 0.58% 473,162 $33.9M Reduce -29.7%
EFA iShares MSCI Eafe ETF 0.57% 368,381 $32.9M New
JPM JPMorgan Chase & Co. 0.56% 113,250 $32.8M Add +14.3%
IWM iShares Russell 2000 ETF 0.53% 142,744 $30.8M New
HIMS Hims & Hers Health Inc. 0.48% 559,749 $27.9M New
VB Vanguard Most SM-Cap ETF-Usd 0.43% 105,921 $25.2M New
KCCA Kraneshares California Carbo 0.41% 1,546,793 $24.0M New
APO Apollo Global Management Inc. 0.40% 166,014 $23.6M Add +1.5%
AR Antero Resources Corp. 0.40% 579,073 $23.3M Reduce -0.4%
TSLA Tesla Inc. 0.38% 70,259 $22.3M Add +37.6%
COIN Coinbase Global Inc. Class A 0.31% 50,958 $17.9M Reduce -2.1%
IAU iShares Gold Trust 0.30% 283,983 $17.7M New
SPMD SS SPDR P S&P 400 Midcap ETF 0.29% 309,465 $16.8M Reduce -7.5%
CAT Caterpillar Inc. 0.28% 42,329 $16.4M New
SCHW Schwab (charles) Corp. 0.28% 179,571 $16.4M New
OKTA Okta Inc. 0.28% 161,166 $16.1M New
COST Costco Wholesale Corp. 0.27% 15,987 $15.8M Add +16.6%
V Visa Inc. Class A 0.26% 43,253 $15.4M Add +26.6%
DDOG Datadog Inc. Class A 0.26% 113,947 $15.3M Add +5.8%
CRWD CrowdStrike Holdings Inc. Class A 0.26% 29,952 $15.3M Reduce -59.5%
EFV iShares MSCI Eafe Value ETF 0.26% 238,137 $15.1M New
VT Vanguard Tot World STK ETF 0.26% 116,710 $15.0M New
LLY Eli Lilly & Co. 0.26% 19,222 $15.0M New
UBER Uber Technologies Inc. 0.26% 160,469 $15.0M Add +10.8%
NFLX Netflix Inc. 0.25% 10,835 $14.5M Add +29.1%
IVV iShares Core S&P 500 ETF 0.25% 23,016 $14.3M New
MA Mastercard Inc. Class A 0.24% 25,194 $14.2M Add +18.9%
GS Goldman Sachs Group Inc. 0.23% 19,174 $13.6M Reduce -5.2%
CRM Salesforce Inc. 0.23% 48,480 $13.2M Add +5.9%
DASH DoorDash Inc. Class A 0.22% 51,045 $12.6M Add +9.0%
PM Philip Morris International 0.22% 68,309 $12.5M New
JNJ Johnson & Johnson 0.21% 80,925 $12.4M New
MNDY Monday.com Ltd. 0.21% 38,960 $12.3M Reduce -35.0%
XOM Exxon Mobil Corp. 0.21% 112,923 $12.2M Add +33.9%
IEFA iShares Core MSCI Eafe ETF 0.21% 145,427 $12.1M Add +25.9%
HD Home Depot Inc. 0.21% 32,656 $12.0M New
BILL Bill Holdings Inc. 0.20% 253,253 $11.7M New
EPI Wisdomtree India Earnings 0.20% 244,041 $11.6M Reduce -1.9%
QQQ Invesco QQQ Trust Series 1 0.20% 20,874 $11.5M New
WMT Walmart Inc. 0.19% 114,050 $11.2M New
DLO Dlocal Ltd. 0.18% 940,820 $10.7M No change
IJR iShares Core S&P Small-Cap E 0.18% 94,225 $10.3M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.17% 214,879 $10.2M New
ANET Arista Networks Inc. 0.17% 98,898 $10.1M New
LMT Lockheed Martin Corp. 0.17% 21,026 $9.7M New
XLV SS Health Care Select Sector 0.17% 71,678 $9.7M Reduce -35.5%
BKNG Booking Holdings Inc. 0.16% 1,647 $9.5M Add +21.4%
TNET Trinet Group Inc. 0.16% 126,037 $9.2M New
IJH iShares Core S&P Midcap ETF 0.16% 145,961 $9.1M New
RTX RTX Corp. 0.15% 60,858 $8.9M New
CVX Chevron Corp. 0.15% 61,813 $8.9M New
ITOT iShares Core S&P Total U.S. 0.15% 63,432 $8.6M New
GLD SPDR Gold Shares 0.15% 27,884 $8.5M Reduce -0.7%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.14% 29,458 $8.4M New
BND Vanguard Total Bond Market 0.14% 114,206 $8.4M New
ORCL Oracle Corp. 0.14% 38,352 $8.4M Add +25.5%
CSCO Cisco Systems Inc. 0.14% 119,397 $8.3M Add +16.2%
T AT&T Inc. 0.14% 278,084 $8.0M Add +21.6%
ABBV Abbvie Inc. 0.14% 43,038 $8.0M Add +19.5%
WFC Wells Fargo & Co. 0.14% 99,426 $8.0M New
ABT Abbott Laboratories 0.14% 58,482 $8.0M New
AXP American Express Co. 0.14% 24,672 $7.9M New
PG The Procter & Gamble Co. 0.13% 48,147 $7.7M New
ERIE Erie Indemnity Company Class A 0.13% 21,938 $7.6M New
VONG Vanguard Russell 1000 Growth 0.13% 67,477 $7.4M Add +316.0%
STIP iShares 0-5 Year Tips Bond E 0.12% 68,414 $7.0M Reduce -14.1%
LIN Linde PLC 0.12% 14,528 $6.8M Add +28.3%
GE General Electric filed as GE AEROSPACE 0.12% 26,368 $6.8M New
INTU Intuit Inc. 0.11% 8,342 $6.6M New
BRK.A Berkshire Hathaway Inc. Class A 0.11% 9 $6.6M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 52,018 $6.5M New
WCLD Wisdomtree Cloud Computing 0.11% 178,271 $6.4M Reduce -37.4%
EEM iShares MSCI Emerging Market 0.11% 132,778 $6.4M New

Show all 1,114 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $224K (not counted above)
SecurityClassShares / PrincipalValueChange
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 3,250$221KNew
VEEAW Plum Acquisition I A -CW28 *W EXP 09/13/202 25,000$3KNew

Total filed on the 13F, all lines: $5.8B.

Portfolio Sells Q1 2025 → Q2 2025
USFR Wisdomtree Floating Rate Tre Reduce -18.3% 19.29% −26.11
RSP Invesco S&P 500 Equal Weight Reduce -16.3% 2.44% −2.90
VGIT Vanguard Intermediate-Term T Reduce -28.2% 1.37% −2.27
VGSH Vanguard Short-Term Treasury Reduce -2.1% 2.34% −2.25
QUAL iShares MSCI USA Quality Fac Reduce -21.3% 0.90% −1.16
KBWB Invesco KBW Bank ETF Reduce -29.7% 0.58% −0.81
CRWD CrowdStrike Holdings Inc. Class A Reduce -59.5% 0.26% −0.60
PPA Invesco Aerospace & Defense Reduce -8.9% 0.73% −0.54
AR Antero Resources Corp. Reduce -0.4% 0.40% −0.38
XLV SS Health Care Select Sector Reduce -35.5% 0.17% −0.37
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -7.5% 0.29% −0.28
MNDY Monday.com Ltd. Reduce -35.0% 0.21% −0.27
UNH Unitedhealth Group Inc. Reduce -6.5% 0.10% −0.24
PLTR Palantir Technologies Inc. Class A Reduce -4.9% 0.78% −0.20
WCLD Wisdomtree Cloud Computing Reduce -37.4% 0.11% −0.19
AMZU Dire DLY Amzn Bul 2X ETF-Usd Sold out 0.00% −0.16
EPI Wisdomtree India Earnings Reduce -1.9% 0.20% −0.16
JPST JPMorgan Ultra-Short Income Reduce -93.7% 0.01% −0.15
STIP iShares 0-5 Year Tips Bond E Reduce -14.1% 0.12% −0.15
GS Goldman Sachs Group Inc. Reduce -5.2% 0.23% −0.13
GLD SPDR Gold Shares Reduce -0.7% 0.15% −0.12
JD Jd.com Inc.-ADR Reduce -0.2% 0.08% −0.12
IEMG iShares Core MSCI Emerging Reduce -23.9% 0.07% −0.08
DVA Davita Inc. Reduce -27.3% 0.04% −0.08
SH Proshares Short S&P500 Sold out 0.00% −0.07
VGT Vanguard Info Tech ETF Reduce -10.8% 0.08% −0.06
FROG Jfrog Ltd. Reduce -41.8% 0.04% −0.06
KBDC Kayne Anderson BDC Inc. Sold out 0.00% −0.06
G Genpact Ltd. Reduce -19.0% 0.03% −0.05
EIPX FT Energy Inc. Partners Strat Reduce -1.9% 0.04% −0.04
USMV iShares MSCI USA Min Vol Fac Reduce -10.4% 0.04% −0.04
S Sentinelone Inc. Class A Reduce -8.9% 0.04% −0.04
DOCS Doximity Inc. Class A Reduce -2.8% 0.05% −0.04
WOOF Petco Health and Wellness Co. Reduce -0.0% 0.04% −0.04
EMLP First Trust North American E Reduce -0.2% 0.04% −0.04
PATH Uipath Inc. Class A Reduce -34.4% 0.03% −0.03
XLY SS Consumer Disc Select Sect Reduce -14.8% 0.03% −0.03
OTIS Otis Worldwide Corp. Reduce -25.1% 0.02% −0.03
XLP SS Consumer Staples Sel Sect Reduce -14.6% 0.02% −0.03
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -2.3% 0.03% −0.03
LPLA LPL Financial Holdings Inc. Reduce -1.1% 0.04% −0.03
TENB Tenable Holdings Inc. Reduce -1.1% 0.03% −0.03
MOAT Vaneck Morningstar Wide Moat Reduce -10.1% 0.03% −0.03
XLK SS Technology Select Sector Reduce -4.4% 0.04% −0.03
MOH Molina Healthcare Inc. Reduce -16.6% 0.02% −0.03
SGI Somnigroup International Inc. Reduce -10.8% 0.03% −0.03
ZBH Zimmer Biomet Holdings Inc. Sold out 0.00% −0.02
CP Canadian Pacific Kansas City Reduce -3.2% 0.03% −0.02
SOFI Sofi Technologies Inc. Reduce -3.2% 0.08% −0.02
AXTA Axalta Coating Systems Ltd. Sold out 0.00% −0.02

Portfolio Buys Q1 2025 → Q2 2025
VOO Vanguard S&P 500 ETF New 10.66% +10.66
ISHG iShares -3 Year Internationa New 2.88% +2.88
VEA Vanguard Ftse Developed ETF New 2.09% +2.09
MSFT Microsoft Corp. New 2.09% +2.09
AAPL Apple Inc. New 1.80% +1.80
VWO Vanguard Ftse Emerging Marke New 1.29% +1.29
APH Amphenol Corp. Class A New 1.22% +1.22
AMZN Amazon.com Inc. New 1.08% +1.08
IWF iShares Russell 1000 Growth New 0.90% +0.90
EXPD Expeditors Intl Wash Inc. New 0.73% +0.73
AGG iShares Core U.S. Aggregate New 0.68% +0.68
VTI VG Morningstar TS MKT ETF-US New 0.66% +0.66
BRK.B Berkshire Hathaway Inc. Class B New 0.60% +0.60
EFA iShares MSCI Eafe ETF New 0.57% +0.57
IWM iShares Russell 2000 ETF New 0.53% +0.53
HIMS Hims & Hers Health Inc. New 0.48% +0.48
VB Vanguard Most SM-Cap ETF-Usd New 0.43% +0.43
KCCA Kraneshares California Carbo New 0.41% +0.41
IAU iShares Gold Trust New 0.30% +0.30
CAT Caterpillar Inc. New 0.28% +0.28
SCHW Schwab (charles) Corp. New 0.28% +0.28
OKTA Okta Inc. New 0.28% +0.28
EFV iShares MSCI Eafe Value ETF New 0.26% +0.26
VT Vanguard Tot World STK ETF New 0.26% +0.26
LLY Eli Lilly & Co. New 0.26% +0.26
IVV iShares Core S&P 500 ETF New 0.25% +0.25
PM Philip Morris International New 0.22% +0.22
JNJ Johnson & Johnson New 0.21% +0.21
HD Home Depot Inc. New 0.21% +0.21
BILL Bill Holdings Inc. New 0.20% +0.20
QQQ Invesco QQQ Trust Series 1 New 0.20% +0.20
WMT Walmart Inc. New 0.19% +0.19
IJR iShares Core S&P Small-Cap E New 0.18% +0.18
BAC Bank of America Corp. New 0.17% +0.17
ANET Arista Networks Inc. New 0.17% +0.17
LMT Lockheed Martin Corp. New 0.17% +0.17
TNET Trinet Group Inc. New 0.16% +0.16
IJH iShares Core S&P Midcap ETF New 0.16% +0.16
RTX RTX Corp. New 0.15% +0.15
CVX Chevron Corp. New 0.15% +0.15
ITOT iShares Core S&P Total U.S. New 0.15% +0.15
VV Vngrd Mrgstr LRG-Cap ETF-Usd New 0.14% +0.14
BND Vanguard Total Bond Market New 0.14% +0.14
WFC Wells Fargo & Co. New 0.14% +0.14
ABT Abbott Laboratories New 0.14% +0.14
AXP American Express Co. New 0.14% +0.14
PG The Procter & Gamble Co. New 0.13% +0.13
ERIE Erie Indemnity Company Class A New 0.13% +0.13
GE General Electric New 0.12% +0.12
INTU Intuit Inc. New 0.11% +0.11

Notes & Other Activity Q1 2025 → Q2 2025
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A New 3,250 $221K
VEEAW Plum Acquisition I A -CW28 *W EXP 09/13/202 New 25,000 $3K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1,470$7.9BVOO, USFR, AVGO, AAPL, VEA
Q1 2026 1,439$7.0BVOO, USFR, AVGO, AAPL, VEA
Q4 2025 1,301$5.8BVOO, USFR, AVGO, AAPL, RSP
Q3 2025 1,326$7.2BUSFR, VOO, AVGO, ISHG, RSP
Q2 2025 1,114$5.8BUSFR, VOO, AVGO, ISHG, RSP
Q1 2025 423$3.0BUSFR, RSP, VGSH, AVGO, VGIT
Q4 2024 390$2.7BUSFR, VGIT, AVGO, RSP, QUAL
Q3 2024 718$4.0BUSFR, VOO, VGIT, AGG, RSP
Q2 2024 615$3.8BUSFR, VOO, VGIT, AGG, RSP
Q1 2024 611$3.8BUSFR, VOO, VGIT, AGG, RSP