Syntax Research, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Syntax Research, Inc. reported 172 stock positions worth $162.1 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 8.9% of the portfolio, followed by iShares 7-10 Year Treasury B (IEF, 5.2%) and iShares MSCI USA Value Facto (VLUE, 5.2%). Compared with Q3 2025, it opened 6 new positions, sold out of 8, added to 39 and reduced 29. The biggest buy was a new position in Digital Realty Trust (DLR) and the biggest sale Zoetis (ZTS, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- BOCA RATON, FL
- CIK
- 0001999827
- Portfolio Value
- $162.1M (Q4 2025)
- SEC Filing
- 0001398344-26-001787 ↗ filed Feb 2, 2026
Holdings Value
Holdings 172 stocks · $162.1M
| IVV iShares Core S&P 500 ETF | 8.88% | 21,030 | $14.4M | Add +0.1% |
| IEF iShares 7-10 Year Treasury B | 5.22% | 87,935 | $8.5M | Add +9.5% |
| VLUE iShares MSCI USA Value Facto | 5.19% | 61,561 | $8.4M | Reduce -4.1% |
| AAPL Apple Inc. | 4.83% | 28,826 | $7.8M | Add +0.0% |
| SHY iShares 1-3 Year Treasury Bo | 4.04% | 79,015 | $6.5M | Reduce -6.9% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 3.92% | 57,682 | $6.4M | Add +53.4% |
| NOBL Proshares S&P 500 Dividend A | 3.67% | 57,194 | $6.0M | Add +2.8% |
| GOOG Alphabet Inc. Class C | 3.64% | 18,827 | $5.9M | Reduce -5.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.30% | 7,839 | $5.3M | Reduce -3.5% |
| AVGO Broadcom Inc. | 2.78% | 13,010 | $4.5M | Reduce -4.6% |
| IJH iShares Core S&P Midcap ETF | 2.64% | 64,751 | $4.3M | Add +0.5% |
| IJR iShares Core S&P Small-Cap E | 2.42% | 32,654 | $3.9M | Add +0.0% |
| PLD Prologis Inc. | 2.23% | 28,386 | $3.6M | Reduce -1.0% |
| MSFT Microsoft Corp. | 2.05% | 6,858 | $3.3M | Add +0.0% |
| FCX Freeport-McMoran Inc. | 2.03% | 64,818 | $3.3M | Reduce -1.0% |
| QCOM Qualcomm Inc. | 1.96% | 18,562 | $3.2M | Reduce -0.9% |
| FDX FedEx Corp. | 1.75% | 9,847 | $2.8M | Add +0.0% |
| ANET Arista Networks Inc. | 1.74% | 21,471 | $2.8M | Reduce -13.4% |
| ORCL Oracle Corp. | 1.70% | 14,181 | $2.8M | Add +36.8% |
| ACWX iShares MSCI Acwi Ex US ETF | 1.70% | 40,976 | $2.8M | Reduce -6.4% |
| TMO Thermo Fisher Scientific Inc. | 1.63% | 4,548 | $2.6M | Reduce -19.7% |
| PANW Palo Alto Networks Inc. | 1.62% | 14,240 | $2.6M | Add +0.1% |
| JPM JPMorgan Chase & Co. | 1.56% | 7,856 | $2.5M | Add +0.3% |
| ABNB Airbnb Inc. Class A | 1.44% | 17,198 | $2.3M | Add +12.0% |
| DLR Digital Realty Trust Inc. | 1.36% | 14,232 | $2.2M | New |
| IEUR iShares Core MSCI Europe ETF | 1.35% | 30,823 | $2.2M | Reduce -7.4% |
| AMT American Tower Corp. | 1.31% | 12,117 | $2.1M | Add +5034.3% |
| XLV SS Health Care Select Sector | 1.30% | 13,566 | $2.1M | Reduce -1.1% |
| SNOW Snowflake Inc. | 1.29% | 9,563 | $2.1M | New |
| QUAL iShares MSCI USA Quality Fac | 1.29% | 10,532 | $2.1M | Add +10.1% |
| FENY Fidelity MSCI Energy Index | 1.24% | 81,150 | $2.0M | Add +5.4% |
| WY Weyerhaeuser Co. | 1.10% | 75,532 | $1.8M | New |
| DT Dynatrace Inc. | 1.07% | 40,000 | $1.7M | New |
| LMT Lockheed Martin Corp. | 1.06% | 3,546 | $1.7M | Add +0.0% |
| USMV iShares MSCI USA Min Vol Fac | 0.94% | 16,234 | $1.5M | Add +7.5% |
| COP Conocophillips | 0.90% | 15,539 | $1.5M | Add +0.1% |
| AMAT Applied Materials Inc. | 0.87% | 5,506 | $1.4M | Add +0.0% |
| UPS United Parcel Service Class B | 0.78% | 12,700 | $1.3M | Reduce -40.9% |
| NOC Northrop Grumman Corp. | 0.70% | 2,000 | $1.1M | No change |
| BA The Boeing Co. | 0.61% | 4,555 | $989K | Add +6.8% |
| AMZN Amazon.com Inc. | 0.61% | 4,270 | $986K | Reduce -0.7% |
| RTX RTX Corp. | 0.58% | 5,094 | $934K | Reduce -7.1% |
| CVX Chevron Corp. | 0.55% | 5,901 | $899K | Add +7.6% |
| OKE Oneok Inc. | 0.47% | 10,304 | $757K | Reduce -17.6% |
| TTWO Take-Two Interactive Softwre | 0.45% | 2,840 | $727K | Add +0.6% |
| GOOGL Alphabet Inc. Class A | 0.43% | 2,227 | $697K | No change |
| MDT Medtronic PLC | 0.41% | 6,979 | $670K | Add +2.2% |
| BLK BlackRock Inc. | 0.36% | 552 | $591K | Add +12.2% |
| TLT iShares 20+ Year Treasury BD | 0.36% | 6,703 | $584K | Reduce -74.5% |
| EEM iShares MSCI Emerging Market | 0.35% | 10,418 | $570K | Add +1.4% |
| INTC Intel Corp. | 0.34% | 15,000 | $554K | No change |
| GOVT iShares US Treasury Bond ETF | 0.32% | 22,846 | $526K | Add +1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.32% | 1,024 | $515K | No change |
| TIP iShares Tips Bond ETF | 0.31% | 4,633 | $509K | Add +1.1% |
| MRK Merck & Co. Inc. | 0.31% | 4,816 | $507K | Add +0.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.31% | 818 | $502K | Add +0.3% |
| V Visa Inc. Class A | 0.27% | 1,242 | $436K | Reduce -2.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.26% | 1,245 | $417K | Add +0.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.23% | 1,215 | $369K | Add +0.3% |
| COST Costco Wholesale Corp. | 0.21% | 392 | $338K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.19% | 5,521 | $304K | Reduce -1.6% |
| HD Home Depot Inc. | 0.17% | 815 | $280K | Add +0.3% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.14% | 837 | $234K | No change |
| PAYX Paychex Inc. | 0.13% | 1,826 | $205K | No change |
| WFC Wells Fargo & Co. | 0.12% | 2,036 | $190K | No change |
| REGN Regeneron Pharmaceuticals | 0.12% | 245 | $189K | No change |
| NEM Newmont Corp. | 0.12% | 1,879 | $188K | Add +0.2% |
| VIG Vanguard Dividend Apprec ETF | 0.10% | 767 | $169K | Add +0.8% |
| NFLX Netflix Inc. | 0.10% | 1,750 | $164K | No change |
| META Meta Platforms Inc. Class A | 0.10% | 245 | $162K | No change |
| CSCO Cisco Systems Inc. | 0.10% | 2,071 | $160K | Reduce -10.3% |
| LLY Eli Lilly & Co. | 0.09% | 140 | $150K | No change |
| APD Air Products & Chemicals Inc. | 0.09% | 573 | $142K | Reduce -76.6% |
| TER Teradyne Inc. | 0.08% | 684 | $132K | No change |
| ED Consolidated Edison Inc. | 0.07% | 1,114 | $111K | No change |
| BXP BXP Inc. | 0.06% | 1,505 | $102K | Add +0.9% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.06% | 2,626 | $101K | Reduce -93.8% |
| WTW Willis Towers Watson PLC | 0.06% | 300 | $99K | Reduce -87.0% |
| XLF SS Financial Select Sector | 0.06% | 1,737 | $95K | No change |
| TSLA Tesla Inc. | 0.06% | 205 | $92K | No change |
| PECO Phillips Edison & Company Inc. | 0.06% | 2,527 | $90K | No change |
| SAP Sap SE-Sponsored ADR | 0.06% | 370 | $90K | No change |
| GMED Globus Medical Inc. Class A | 0.05% | 1,000 | $87K | No change |
| JNJ Johnson & Johnson | 0.05% | 411 | $85K | No change |
| AMGN Amgen Inc. | 0.05% | 237 | $78K | No change |
| CAT Caterpillar Inc. | 0.05% | 135 | $77K | No change |
| ETN Eaton Corp. PLC | 0.04% | 225 | $72K | No change |
| NEE Nextera Energy Inc. | 0.04% | 804 | $65K | No change |
| DRI Darden Restaurants Inc. | 0.04% | 337 | $62K | No change |
| CMCSA Comcast Corp. Class A | 0.03% | 1,780 | $53K | Reduce -15.6% |
| IYF iShares US Financials ETF | 0.03% | 404 | $52K | No change |
| HDV iShares Core High Dividend E | 0.03% | 415 | $50K | Add +151.5% |
| NVDA Nvidia Corp. | 0.03% | 260 | $49K | Add +62.5% |
| IWO iShares Russell 2000 Growth | 0.03% | 146 | $47K | No change |
| HPE Hewlett Packard Enterprise | 0.03% | 1,897 | $46K | No change |
| ELV Elevance Health Inc. | 0.03% | 121 | $43K | No change |
| HPQ HP Inc. | 0.03% | 1,897 | $42K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.03% | 367 | $42K | Reduce -23.2% |
| ZTS Zoetis Inc. | 0.02% | 302 | $38K | Reduce -98.0% |
| GM General Motors Co. | 0.02% | 466 | $38K | No change |
Lines left out (1) · $1 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| ITA iShares U.S. Aerospace & Def | US AER DEF ETF | 0 | $1 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $162.1M.
Portfolio Sells Q3 2025 → Q4 2025
| ZTS Zoetis Inc. | Reduce -98.0% | 0.02% | −1.36 |
| TLT iShares 20+ Year Treasury BD | Reduce -74.5% | 0.36% | −1.15 |
| SLB SLB Ltd. | Reduce -93.8% | 0.06% | −0.88 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.76 |
| WWD Woodward Inc. | Sold out | 0.00% | −0.65 |
| ANET Arista Networks Inc. | Reduce -13.4% | 1.74% | −0.59 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.52 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -6.9% | 4.04% | −0.49 |
| WTW Willis Towers Watson PLC | Reduce -87.0% | 0.06% | −0.45 |
| UPS United Parcel Service Class B | Reduce -40.9% | 0.78% | −0.38 |
| APD Air Products & Chemicals Inc. | Reduce -76.6% | 0.09% | −0.34 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.5% | 3.30% | −0.18 |
| TMO Thermo Fisher Scientific Inc. | Reduce -19.7% | 1.63% | −0.14 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -6.4% | 1.70% | −0.13 |
| OKE Oneok Inc. | Reduce -17.6% | 0.47% | −0.12 |
| AVGO Broadcom Inc. | Reduce -4.6% | 2.78% | −0.11 |
| IEUR iShares Core MSCI Europe ETF | Reduce -7.4% | 1.35% | −0.11 |
| CUBE Cubesmart | Sold out | 0.00% | −0.05 |
| QCOM Qualcomm Inc. | Reduce -0.9% | 1.96% | −0.04 |
| RTX RTX Corp. | Reduce -7.1% | 0.58% | −0.01 |
| V Visa Inc. Class A | Reduce -2.3% | 0.27% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -15.6% | 0.03% | −0.01 |
| DIS The Walt Disney Co. | Reduce -23.2% | 0.03% | −0.01 |
| DOW Dow Inc. | Reduce -31.3% | 0.01% | −0.01 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.00 |
| IWP iShares Russell Mid-Cap Grow | Reduce -22.8% | 0.01% | −0.00 |
| HE Hawaiian Electric Inds | Sold out | 0.00% | −0.00 |
| OTIS Otis Worldwide Corp. | Sold out | 0.00% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -10.3% | 0.10% | −0.00 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.00 |
| AMZN Amazon.com Inc. | Reduce -0.7% | 0.61% | +0.00 |
| BAC Bank of America Corp. | Reduce -1.6% | 0.19% | +0.00 |
| VLUE iShares MSCI USA Value Facto | Reduce -4.1% | 5.19% | +0.03 |
| XLV SS Health Care Select Sector | Reduce -1.1% | 1.30% | +0.07 |
| PLD Prologis Inc. | Reduce -1.0% | 2.23% | +0.12 |
| FCX Freeport-McMoran Inc. | Reduce -1.0% | 2.03% | +0.38 |
| GOOG Alphabet Inc. Class C | Reduce -5.0% | 3.64% | +0.54 |
Portfolio Buys Q3 2025 → Q4 2025
| DLR Digital Realty Trust Inc. | New | 1.36% | +1.36 |
| SNOW Snowflake Inc. | New | 1.29% | +1.29 |
| AMT American Tower Corp. | Add +5034.3% | 1.31% | +1.28 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +53.4% | 3.92% | +1.23 |
| WY Weyerhaeuser Co. | New | 1.10% | +1.10 |
| DT Dynatrace Inc. | New | 1.07% | +1.07 |
| FDX FedEx Corp. | Add +0.0% | 1.75% | +0.26 |
| ABNB Airbnb Inc. Class A | Add +12.0% | 1.44% | +0.24 |
| IEF iShares 7-10 Year Treasury B | Add +9.5% | 5.22% | +0.24 |
| AMAT Applied Materials Inc. | Add +0.0% | 0.87% | +0.15 |
| AAPL Apple Inc. | Add +0.0% | 4.83% | +0.12 |
| QUAL iShares MSCI USA Quality Fac | Add +10.1% | 1.29% | +0.09 |
| MRK Merck & Co. Inc. | Add +0.2% | 0.31% | +0.05 |
| SDY SS SPDR S&P Dividend ETF | New | 0.02% | +0.02 |
| USMV iShares MSCI USA Min Vol Fac | Add +7.5% | 0.94% | +0.02 |
| BA The Boeing Co. | Add +6.8% | 0.61% | +0.02 |
| HDV iShares Core High Dividend E | Add +151.5% | 0.03% | +0.02 |
| FENY Fidelity MSCI Energy Index | Add +5.4% | 1.24% | +0.02 |
| NEM Newmont Corp. | Add +0.2% | 0.12% | +0.01 |
| LEVI Levi Strauss & Co. Class A | New | 0.01% | +0.01 |
| NVDA Nvidia Corp. | Add +62.5% | 0.03% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.3% | 0.23% | +0.01 |
| CVX Chevron Corp. | Add +7.6% | 0.55% | +0.01 |
| SCHF Schwab Intl Equity ETF | Add +2.8% | 0.02% | +0.00 |
| EEM iShares MSCI Emerging Market | Add +1.4% | 0.35% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.8% | 0.10% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.6% | 0.26% | −0.00 |
| BLK BlackRock Inc. | Add +12.2% | 0.36% | −0.00 |
| MDT Medtronic PLC | Add +2.2% | 0.41% | −0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.3% | 0.31% | −0.01 |
| BXP BXP Inc. | Add +0.9% | 0.06% | −0.01 |
| GOVT iShares US Treasury Bond ETF | Add +1.1% | 0.32% | −0.01 |
| TIP iShares Tips Bond ETF | Add +1.1% | 0.31% | −0.01 |
| NOBL Proshares S&P 500 Dividend A | Add +2.8% | 3.67% | −0.02 |
| TTWO Take-Two Interactive Softwre | Add +0.6% | 0.45% | −0.02 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 1.56% | −0.03 |
| HD Home Depot Inc. | Add +0.3% | 0.17% | −0.04 |
| COP Conocophillips | Add +0.1% | 0.90% | −0.05 |
| IJH iShares Core S&P Midcap ETF | Add +0.5% | 2.64% | −0.07 |
| IJR iShares Core S&P Small-Cap E | Add +0.0% | 2.42% | −0.07 |
| LMT Lockheed Martin Corp. | Add +0.0% | 1.06% | −0.08 |
| IVV iShares Core S&P 500 ETF | Add +0.1% | 8.88% | −0.15 |
| ORCL Oracle Corp. | Add +36.8% | 1.70% | −0.17 |
| MSFT Microsoft Corp. | Add +0.0% | 2.05% | −0.24 |
| PANW Palo Alto Networks Inc. | Add +0.1% | 1.62% | −0.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 177 | $136.6M | IVV, IEF, SHY, USMV, NOBL |
| Q1 2026 | 173 | $157.1M | IVV, IEF, VLUE, AAPL, SHY |
| Q4 2025 | 172 | $162.1M | IVV, IEF, VLUE, AAPL, SHY |
| Q3 2025 | 172 | $155.6M | IVV, VLUE, IEF, AAPL, SHY |
| Q2 2025 | 170 | $140.8M | IVV, VLUE, IEF, SHY, AAPL |
| Q1 2025 | 175 | $144.8M | IVV, SHY, VLUE, AAPL, IEF |
| Q4 2024 | 183 | $139.5M | IVV, VLUE, AAPL, SHY, ACWX |
| Q3 2024 | 189 | $147.8M | IVV, VLUE, SHY, AAPL, ACWX |
| Q2 2024 | 174 | $126.4M | SHY, IVV, VLUE, AAPL, ACWX |
| Q1 2024 | 170 | $131.0M | SHY, IVV, VLUE, IJH, SPY |