Summit Trail Advisors, LLC

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
1,303
Total value ($000)
$5,784,169
Net value change ($000)
-1,457,505 (-20.1%)
New positions
53
Sold out positions
79
Turnover %
1.6%
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)
ERIE 20,304 215.6%
AKRE 18,112 NEW
GOOGL 15,548 22.8%
GOOGL 14,580 22.6%
IWM 14,523 40.6%
AAPL 14,074 9.8%
META 12,116 27.9%
SCHB 9,310 172.0%
AVGO 7,383 3.0%
SPTL 6,079 897.9%
Top Reduces (Value $000, Stocks/ETFs)
USFR -655,095 -60.2%
VGSH -125,006 -89.4%
VOO -113,168 -15.6%
ISHG -98,784 -55.1%
EXPD -66,451 -97.8%
IWF -55,677 -78.7%
RSP -40,284 -23.9%
VEA -30,576 -19.4%
VTI -29,290 -58.6%
QUAL -24,863 -82.9%
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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Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type