Managers / Q1 2026
Sippican Capital Advisors
CIK 0001557406 · 125 HIGH STREET, SUITE 1802, BOSTON, MA, 02110 · 8572638119
Summary
Sippican Capital Advisors reported $146M in U.S.-listed holdings across 107 positions for Q1 2026.
Its largest position, Bancorp, represents 5.4% of the portfolio.
Compared with Q4 2025, the fund opened 3 new positions and exited 9.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Other · 51.3% · $75M
- Common Stock · 44.8% · $65M
- Open-End Fund · 2.7% · $4M
- MLP · 1.0% · $2M
- REIT · 0.2% · $235,536
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| Nicolet Bankshares Inc | NEW | +3.7K | 3.7K | +$553,870 | $553,870 |
| Meritage Homes Corp | NEW | +8.1K | 8.1K | +$501,337 | $501,337 |
| Cleanspark Inc | NEW | +11.6K | 11.6K | +$98,290 | $98,290 |
| Oracle Corp | ADDED | +10.0K | 17.1K | +$1M | $3M |
| Alpha Architect 1-3 Month Box | SOLD OUT | −38.6K | 0 | −$4M | $0 |
| MOFGMidWestOne Financial Group Inc | SOLD OUT | −25.7K | 0 | −$988,834 | $0 |
| LKFNLakeland Financial Corp | SOLD OUT | −17.2K | 0 | −$979,378 | $0 |
| Pinnacle Financial Partners In | SOLD OUT | −5.9K | 0 | −$564,350 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $146M | 107 | Apr 23, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $156M | 113 | Jan 23, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $151M | 114 | Oct 27, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $138M | 112 | Jul 25, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $133M | 109 | Apr 28, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $137M | 112 | Jan 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $143M | 113 | Oct 28, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $126M | 113 | Aug 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $129M | 114 | May 2, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $127M | 117 | Jan 30, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $111M | 109 | Oct 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $108M | 102 | Aug 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $105M | 99 | Jan 26, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $96M | 99 | Oct 17, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $101M | 101 | Jul 19, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $120M | 110 | Apr 20, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $118M | 108 | Jan 19, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $115M | 112 | Oct 20, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $115M | 114 | Jul 22, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $108M | 112 | Apr 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $92M | 107 | Jan 21, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $80M | 105 | Oct 23, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $74M | 98 | Jul 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $61M | 94 | Apr 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $90M | 106 | Jan 21, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $83M | 104 | Oct 17, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $85M | 106 | Jul 17, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $84M | 110 | Apr 17, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $74M | 103 | Jan 16, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.