STANSBERRY ASSET MANAGEMENT, LLC

Q4 2025 13F-HR Holdings

Location
Westlake, TX
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
145
Total value ($000)
$987,297
Net value change ($000)
+31,374 (3.3%)
New positions
12
Sold out positions
11
Turnover %
4.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GOOGL 11,916 30.4%
KVUE 11,464 329.9%
LLY 10,953 90.7%
JMBS 8,854 95.3%
DHR 7,614 67.3%
C 7,408 301.9%
BDX 7,036 NEW
BXSL 6,865 709.2%
SHEL 6,146 66.9%
AAPL 5,767 91.1%
Top Reduces (Value $000, Stocks/ETFs)
VICI -17,857 -89.6%
FISV -10,615 -100.0%
FIX -10,481 -65.6%
TLT -8,709 -60.5%
VRSN -6,439 -61.2%
VRRM -6,022 -44.6%
META -5,609 -53.8%
RITM -5,606 -80.2%
AMLP -5,444 -60.7%
MTN -5,206 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type