Summit Trail Advisors, LLC

Q3 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
1,344
Total value ($000)
$7,241,674
Net value change ($000)
+1,415,204 (24.3%)
New positions
243
Sold out positions
31
Turnover %
3.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 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)
VOO 101,980 16.4%
AVGO 43,770 21.8%
AAPL 39,678 37.9%
VEA 35,472 29.1%
RSPT 30,783 4643.0%
NVDA 28,168 30.3%
RSP 26,076 18.3%
EXPD 25,190 58.9%
GOOGL 20,922 48.1%
GOOGL 19,955 41.3%
Top Reduces (Value $000, Stocks/ETFs)
USFR -36,170 -3.2%
QUAL -22,538 -42.9%
VGIT -13,409 -16.8%
WCLD -6,443 -100.0%
XLV -5,525 -57.2%
MNDY -4,729 -38.6%
AR -3,449 -14.8%
IGV -1,768 -33.2%
WBA -1,701 -100.0%
CRM -1,595 -12.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 8,604 (0.1% of total reported value)
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