SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Sippican Capital Advisors

CIK 0001557406 · 125 HIGH STREET, SUITE 1802, BOSTON, MA, 02110 · 8572638119

Reported Value
$111M
Q3 2023
Positions
109
Filings on Record
30
2019–present window
Filed
Oct 24, 2023
original filing

Summary

Sippican Capital Advisors reported $111M in U.S.-listed holdings across 109 positions for Q3 2023.

Its largest position, Bancorp, represents 5.1% of the portfolio.

Compared with Q2 2023, the fund opened 8 new positions and exited 1.

Portfolio Metrics

Turnover
+6.5%
vs prior filed quarter
Top-10 Concentration
+25.4%
share of reported value
Largest Position
+5.1%
Bancorp
New / Exited
8 / 1
positions this quarter

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

13F Reported Value
Q4 ’18: $74MQ4 ’18Q1 ’19: $84MQ2 ’19: $85MQ3 ’19: $83MQ4 ’19: $90MQ4 ’19Q1 ’20: $61MQ2 ’20: $74MQ3 ’20: $80MQ4 ’20: $92MQ4 ’20Q1 ’21: $108MQ2 ’21: $115MQ3 ’21: $115MQ4 ’21: $118MQ4 ’21Q1 ’22: $120MQ2 ’22: $101MQ3 ’22: $96MQ4 ’22: $105MQ4 ’22Q2 ’23: $108MQ3 ’23: $111MQ4 ’23: $127MQ1 ’24: $129MQ1 ’24Q2 ’24: $126MQ3 ’24: $143MQ4 ’24: $137MQ1 ’25: $133MQ1 ’25Q2 ’25: $138MQ3 ’25: $151MQ4 ’25: $156MQ1 ’26: $146MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Other: 54.0%Common Stock: 41.7%Open-End Fund: 2.3%MLP: 0.9%REIT: 0.7%Other: 0.3%
  • Other · 54.0% · $60M
  • Common Stock · 41.7% · $46M
  • Open-End Fund · 2.3% · $3M
  • MLP · 0.9% · $1M
  • REIT · 0.7% · $753,837
  • Other · 0.3% · $377,981

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Alerus Financial CorpNEW+31.1K31.1K+$565,216$565,216
QCR Holdings IncNEW+10.0K10.0K+$483,744$483,744
S&P 500 Index Put Option 03/24NEW+88+$471,280$471,280
S&P 500 Index Put Option 06/24NEW+88+$455,200$455,200
S&P 500 Index Call Option 06/2NEW+88+$432,928$432,928
S&P 500 Index Call Option 03/2NEW+88+$365,440$365,440
Nabors Industries Ltd ShsNEW+1.7K1.7K+$204,659$204,659
ETF Managers Group Commodity TNEW+12.1K12.1K+$66,429$66,429

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1Bancorp IncCOM5.05%$6M162.2K
2CHVChevron Corphistory →COM3.02%$3M19.9K
3NVR IncCOM2.92%$3M543
4FXAIXFidelity Tr 500 Index Ins Premhistory →MF2.34%$3M17.4K
5AbbVie IncCOM2.20%$2M16.3K
6Cambridge BancorpCOM2.00%$2M35.6K
7ConocoPhillipsCOM2.00%$2M18.4K
8Merck & Co IncCOM1.97%$2M21.2K
9Triumph Financial IncCOM1.97%$2M33.6K
10Diamondback Energy IncCOM1.89%$2M13.5K
11LENLennar Corp Cl Ahistory →COM1.86%$2M18.4K
12LLYLilly Eli & Cohistory →COM1.86%$2M3.8K
133M CoCOM1.80%$2M21.2K
14General Electric Co Com NewCOM1.77%$2M17.7K
15BMYBristol-Myers Squibb Cohistory →COM1.71%$2M32.7K
16MGMMGM Resorts Internationalhistory →COM1.71%$2M51.5K
17PXDEURPioneer Natural Resources Cohistory →COM1.70%$2M8.2K
18CTRACoterra Energy Inchistory →COM1.61%$2M65.8K
19BRK/BBerkshire Hathaway Inc Cl Bhistory →COM1.60%$2M5.1K
20Viatris IncCOM1.60%$2M179.2K
21EOG Resources IncCOM1.56%$2M13.6K
22Organon & Co Common StockCOM1.56%$2M99.2K
23Price T Rowe Group IncCOM1.55%$2M16.4K
24Physicians Realty TrustRE1.53%$2M138.9K
25Exxon Mobil CorpCOM1.49%$2M14.0K
26PFEPfizer Inchistory →COM1.48%$2M49.5K
27GILDGilead Sciences Inchistory →COM1.45%$2M21.5K
28TRVCCitigroup Inchistory →COM1.45%$2M39.0K
29Iron Mountain IncRE1.44%$2M26.8K
30Alphabet Inc Cap Stock Cl CCOM1.32%$1M11.1K
31Banc Of California IncCOM1.29%$1M115.1K
32GTGoodyear Tire & Rubber Cohistory →COM1.25%$1M111.5K
33Onemain Holdings IncCOM1.21%$1M33.4K
34AAPLApple Inchistory →COM1.17%$1M7.6K
35Rtx Corporation ComCOM1.16%$1M17.9K
36VBTXVeritex Holdings Inchistory →COM1.14%$1M70.2K
37Davita IncCOM1.12%$1M13.1K
38CFCF Industries Holdings Inchistory →COM1.09%$1M14.1K
39GE Healthcare Technologies IncCOM1.00%$1M16.3K
40Pathward Financial IncCOM0.99%$1M23.8K
41WEAWestern Alliance BancorpCOM0.98%$1M23.5K
42LMTLockheed Martin CorpCOM0.95%$1M2.6K
43Draftkings Inc Cl ACOM0.95%$1M35.7K
44BABoeing CoCOM0.92%$1M5.3K
45JPMorgan Chase & CoCOM0.92%$1M7.0K
46JNJJohnson & JohnsonCOM0.91%$1M6.5K
47Kinder Morgan IncCOM0.87%$968,35558.4K
48DEDeere & CoCOM0.86%$949,1112.5K
49GISGeneral Mills IncCOM0.81%$899,89114.1K
50Cisco Systems IncCOM0.79%$875,10516.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$146M107Apr 23, 202613F-HRchanges · EDGAR ↗
Q4 2025$156M113Jan 23, 202613F-HRchanges · EDGAR ↗
Q3 2025$151M114Oct 27, 202513F-HRchanges · EDGAR ↗
Q2 2025$138M112Jul 25, 202513F-HRchanges · EDGAR ↗
Q1 2025$133M109Apr 28, 202513F-HRchanges · EDGAR ↗
Q4 2024$137M112Jan 23, 202513F-HRchanges · EDGAR ↗
Q3 2024$143M113Oct 28, 202413F-HRchanges · EDGAR ↗
Q2 2024$126M113Aug 6, 202413F-HRchanges · EDGAR ↗
Q1 2024$129M114May 2, 202413F-HRchanges · EDGAR ↗
Q4 2023$127M117Jan 30, 202413F-HRchanges · EDGAR ↗
Q3 2023$111M109Oct 24, 202313F-HRchanges · EDGAR ↗
Q2 2023$108M102Aug 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$105M99Jan 26, 202313F-HRchanges · EDGAR ↗
Q3 2022$96M99Oct 17, 202213F-HRchanges · EDGAR ↗
Q2 2022$101M101Jul 19, 202213F-HRchanges · EDGAR ↗
Q1 2022$120M110Apr 20, 202213F-HRchanges · EDGAR ↗
Q4 2021$118M108Jan 19, 202213F-HRchanges · EDGAR ↗
Q3 2021$115M112Oct 20, 202113F-HRchanges · EDGAR ↗
Q2 2021$115M114Jul 22, 202113F-HRchanges · EDGAR ↗
Q1 2021$108M112Apr 15, 202113F-HRchanges · EDGAR ↗
Q4 2020$92M107Jan 21, 202113F-HRchanges · EDGAR ↗
Q3 2020$80M105Oct 23, 202013F-HRchanges · EDGAR ↗
Q2 2020$74M98Jul 15, 202013F-HRchanges · EDGAR ↗
Q1 2020$61M94Apr 16, 202013F-HRchanges · EDGAR ↗
Q4 2019$90M106Jan 21, 202013F-HRchanges · EDGAR ↗
Q3 2019$83M104Oct 17, 201913F-HRchanges · EDGAR ↗
Q2 2019$85M106Jul 17, 201913F-HRchanges · EDGAR ↗
Q1 2019$84M110Apr 17, 201913F-HRchanges · EDGAR ↗
Q4 2018$74M103Jan 16, 201913F-HRchanges · 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 ↗.