Wernau Asset Management Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Wernau Asset Management Inc. reported 46 stock positions worth $96.6 million. Its top holding was Apple (AAPL) at 24.8% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 11.8%) and Berkshire Hathaway Class B (BRK.B, 7.3%). Compared with Q2 2025, it opened 3 new positions, added to 3 and reduced 23. The biggest buy was a new position in VG Morningstar TS MKT ETF-US (VTI) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −3%).

Most Recent 13F
Q2 2026
Location
Gloucester, MA
CIK
0002053236
Portfolio Value
$96.6M (Q3 2025)
SEC Filing
0001172661-25-004635 ↗ filed Nov 7, 2025

Holdings Value

0$50.0M$100.0M$150.0M Q4 2024: $103.3M Q4 2024 Q1 2025: $96.7M Q1 2025 Q2 2025: $88.4M Q2 2025 Q3 2025: $96.6M $96.6M Q3 2025 Q4 2025: $100.7M Q4 2025 Q1 2026: $96.1M Q1 2026 Q2 2026: $105.5M Q2 2026

Holdings 46 stocks · $96.6M
AAPL Apple Inc. 24.83% 94,243 $24.0M Reduce -1.0%
SPY SS SPDR S&P 500 ETF Trust-US 11.84% 17,178 $11.4M Reduce -1.3%
BRK.B Berkshire Hathaway Inc. Class B 7.31% 14,046 $7.1M Reduce -3.2%
MSFT Microsoft Corp. 6.80% 12,686 $6.6M Reduce -0.9%
GOOG Alphabet Inc. Class C 5.83% 23,121 $5.6M Reduce -4.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 4.46% 83,614 $4.3M Reduce -2.7%
PFE Pfizer Inc. 3.22% 122,141 $3.1M Reduce -1.8%
JPM JPMorgan Chase & Co. 3.12% 9,573 $3.0M Reduce -5.3%
GOOGL Alphabet Inc. Class A 2.48% 9,846 $2.4M Reduce -2.7%
T AT&T Inc. 2.41% 82,302 $2.3M Reduce -9.7%
VTWO Vanguard Russell 2000 ETF 2.27% 22,385 $2.2M No change
AMZN Amazon.com Inc. 2.24% 9,866 $2.2M Reduce -4.0%
UTL Unitil Corp. 2.12% 42,725 $2.0M Add +2.5%
PG The Procter & Gamble Co. 2.06% 12,969 $2.0M Reduce -6.5%
KKR KKR & Co. Inc. 1.43% 10,646 $1.4M Reduce -0.1%
CSCO Cisco Systems Inc. 1.39% 19,626 $1.3M Reduce -7.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.14% 9,661 $1.1M Reduce -5.9%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.13% 3,719 $1.1M No change
SCHF Schwab Intl Equity ETF 1.09% 45,246 $1.1M No change
VZ Verizon Communications Inc. 1.02% 22,400 $985K Reduce -3.6%
VWO Vanguard Ftse Emerging Marke 0.97% 17,328 $939K No change
SCHD Schwab US DVD Equity ETF 0.88% 31,209 $852K No change
SCHB Schwab US Broad Market ETF 0.75% 28,194 $725K No change
GLD SPDR Gold Shares 0.75% 2,028 $721K Reduce -0.4%
NVDA Nvidia Corp. 0.73% 3,769 $703K Reduce -3.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.69% 2,348 $663K Reduce -11.6%
XOM Exxon Mobil Corp. 0.63% 5,416 $611K Add +0.3%
IWF iShares Russell 1000 Growth 0.55% 1,132 $530K No change
SAM Boston Beer Company Inc. Class A 0.55% 2,500 $529K No change
ED Consolidated Edison Inc. 0.54% 5,184 $521K No change
KMI Kinder Morgan Inc. 0.44% 15,153 $429K Reduce -0.3%
IWB iShares Russell 1000 ETF 0.40% 1,060 $387K No change
VTI VG Morningstar TS MKT ETF-US 0.37% 1,084 $356K New
LLY Eli Lilly & Co. 0.34% 436 $333K No change
XLF SS Financial Select Sector 0.34% 6,122 $330K Reduce -3.0%
SHY iShares 1-3 Year Treasury Bo 0.34% 3,918 $325K No change
F Ford Motor Co. filed as FORD MTR CO 0.32% 25,634 $307K Reduce -1.0%
NFLX Netflix Inc. 0.31% 251 $301K No change
EEM iShares MSCI Emerging Market 0.30% 5,440 $290K No change
ABBV Abbvie Inc. 0.29% 1,212 $281K No change
PBA Pembina Pipeline Corp. 0.23% 5,572 $225K Reduce -1.7%
NLY Annaly Capital Management Inc. 0.22% 10,621 $215K Add +0.3%
TIP iShares Tips Bond ETF 0.22% 1,904 $212K No change
QQQ Invesco QQQ Trust Series 1 0.22% 350 $210K New
SBUX Starbucks Corp. 0.21% 2,456 $208K No change
SCHX Schwab US Large-Cap ETF 0.21% 7,692 $203K New

Options reported separately and not counted above: SPY puts ($38.9M), AAPL puts ($10.7M), PFE puts ($892K).

Portfolio Sells Q2 2025 → Q3 2025
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.2% 7.31% −0.66
T AT&T Inc. Reduce -9.7% 2.41% −0.58
PG The Procter & Gamble Co. Reduce -6.5% 2.06% −0.44
MSFT Microsoft Corp. Reduce -0.9% 6.80% −0.40
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.3% 11.84% −0.32
AMZN Amazon.com Inc. Reduce -4.0% 2.24% −0.31
DIS The Walt Disney Co. Reduce -5.9% 1.14% −0.30
CSCO Cisco Systems Inc. Reduce -7.4% 1.39% −0.27
IBM Intl Business Machines Corp. Reduce -11.6% 0.69% −0.20
JPM JPMorgan Chase & Co. Reduce -5.3% 3.12% −0.19
PFE Pfizer Inc. Reduce -1.8% 3.22% −0.19
KKR KKR & Co. Inc. Reduce -0.1% 1.43% −0.17
BAC Bank of America Corp. Reduce -2.7% 4.46% −0.14
VZ Verizon Communications Inc. Reduce -3.6% 1.02% −0.12
KMI Kinder Morgan Inc. Reduce -0.3% 0.44% −0.06
XLF SS Financial Select Sector Reduce -3.0% 0.34% −0.03
PBA Pembina Pipeline Corp. Reduce -1.7% 0.23% −0.01
F Ford Motor Co. Reduce -1.0% 0.32% −0.00
NVDA Nvidia Corp. Reduce -3.1% 0.73% +0.03
GLD SPDR Gold Shares Reduce -0.4% 0.75% +0.04
GOOGL Alphabet Inc. Class A Reduce -2.7% 2.48% +0.46
GOOG Alphabet Inc. Class C Reduce -4.5% 5.83% +0.97
AAPL Apple Inc. Reduce -1.0% 24.83% +2.74

Portfolio Buys Q2 2025 → Q3 2025
VTI VG Morningstar TS MKT ETF-US New 0.37% +0.37
QQQ Invesco QQQ Trust Series 1 New 0.22% +0.22
SCHX Schwab US Large-Cap ETF New 0.21% +0.21
NLY Annaly Capital Management Inc. Add +0.3% 0.22% −0.00
XOM Exxon Mobil Corp. Add +0.3% 0.63% −0.03
UTL Unitil Corp. Add +2.5% 2.12% −0.34

Options Activity Q2 2025 → Q3 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -7.2% 58,400 $38.9M
AAPL Apple Inc. put Reduce -46.6% 42,000 $10.7M
PFE Pfizer Inc. put Add +75.0% 35,000 $892K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 48$105.5MAAPL, SPY, GOOG, BRK.B, MSFT
Q1 2026 47$96.1MAAPL, SPY, BRK.B, GOOG, MSFT
Q4 2025 46$100.7MAAPL, SPY, BRK.B, GOOG, MSFT
Q3 2025 46$96.6MAAPL, SPY, BRK.B, MSFT, GOOG
Q2 2025 43$88.4MAAPL, SPY, BRK.B, MSFT, GOOG
Q1 2025 46$96.7MAAPL, SPY, BRK.B, MSFT, GOOG
Q4 2024 47$103.3MAAPL, SPY, BRK.B, MSFT, GOOG