Summit Trail Advisors, LLC

Q1 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
3/31/2025
Date filed
4/28/2025
Form type
13F-HR
Num holdings
423
Total value ($000)
$3,031,508
Net value change ($000)
+321,710 (11.9%)
New positions
80
Sold out positions
47
Turnover %
1.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 1/29/2025 Next filing: 8/14/2025 SEC filing

Snapshot: Change Analysis

Compared to Q4 2024
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)
USFR 277,171 25.2%
VGSH 109,757 374.3%
KBWB 22,202 110.8%
RSP 18,496 12.9%
GS 7,986 260.5%
META 5,494 31.6%
AMZU 4,947 NEW
COST 4,380 51.0%
AON 3,842 9.5%
STIP 3,820 86.4%
Top Reduces (Value $000, Stocks/ETFs)
VGIT -109,483 -49.8%
AVGO -40,728 -25.9%
PPA -23,437 -37.9%
XLV -15,495 -48.8%
DDOG -8,958 -45.6%
COIN -5,277 -37.1%
IBIT -4,621 -92.0%
GOOGL -4,517 -10.7%
APO -4,417 -16.5%
CRM -2,912 -19.2%
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