SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Paragon Capital Management Ltd

CIK 0001569765 · 999 18TH STREET, SUITE 1401, DENVER, CO, 80202 · 303-293-3680

Reported Value
$502M
Q4 2025
Positions
195
Filings on Record
30
2019–present window
Filed
Jan 22, 2026
original filing

Summary

Paragon Capital Management Ltd reported $502M in U.S.-listed holdings across 195 positions for Q4 2025.

Its largest position, VIG, represents 13.5% of the portfolio.

Compared with Q3 2025, the fund opened 12 new positions and exited 18.

Portfolio Metrics

Turnover
+5.3%
vs prior filed quarter
Top-10 Concentration
+67.3%
share of reported value
Largest Position
+13.5%
Vanguard Specialized Funds
New / Exited
12 / 18
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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: $208MQ4 ’18Q1 ’19: $165MQ2 ’19: $176MQ3 ’19: $180MQ4 ’19: $191MQ4 ’19Q1 ’20: $176MQ2 ’20: $231MQ3 ’20: $183MQ4 ’20: $183MQ4 ’20Q1 ’21: $193MQ2 ’21: $214MQ3 ’21: $581MQ4 ’21: $623MQ4 ’21Q1 ’22: $535MQ2 ’22: $358MQ3 ’22: $350MQ4 ’22: $375MQ4 ’22Q1 ’23: $437MQ2 ’23: $462MQ3 ’23: $444MQ4 ’23: $489MQ4 ’23Q1 ’24: $565MQ2 ’24: $545MQ3 ’24: $510MQ4 ’24: $501MQ4 ’24Q1 ’25: $488MQ2 ’25: $552MQ3 ’25: $532MQ4 ’25: $502MQ4 ’25Q1 ’26: $476Mfilingsflow.com

Portfolio Composition

By security type
ETP: 52.9%Common Stock: 46.6%MLP: 0.3%REIT: 0.2%Closed-End Fund: 0.0%
  • ETP · 52.9% · $266M
  • Common Stock · 46.6% · $234M
  • MLP · 0.3% · $2M
  • REIT · 0.2% · $940,213
  • Closed-End Fund · 0.0% · $106,508

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CAMAB ACTIVE ETFS INCNEW+11.1K11.1K+$279,759$279,759
HROWHARROW INCNEW+4.8K4.8K+$236,817$236,817
BMYBRISTOL-MYERS SQUIBB CONEW+4.1K4.1K+$222,741$222,741
OMCOMNICOM GROUP INCNEW+2.7K2.7K+$221,820$221,820
PFGPRINCIPAL FINANCIAL GROUP INNEW+2.5K2.5K+$216,961$216,961
BGBUNGE GLOBAL SANEW+2.4K2.4K+$212,086$212,086
RGAREINSURANCE GRP OF AMERICA INEW+1.0K1.0K+$211,137$211,137
PRUPRUDENTIAL FINL INCNEW+1.9K1.9K+$210,790$210,790

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

Holdings — Q4 2025

164 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VIGVANGUARD SPECIALIZED FUNDShistory →DIV APP ETF13.50%$68M308.7K
2SPHQINVESCO EXCHANGE TRADED FD TS&P500 QUALITY · WATER RES ETF · S&P500 PUR VAL · RAFI US 1000 ETF · S&P500 EQL WGT11.19%$56M748.7K
3ABNBAIRBNB INChistory →COM CL A9.82%$49M363.4K
4IQLTISHARES TRMSCI INTL QUALTY · MSCI EAFE ETF · 3 7 YR TREAS BD · CORE MSCI EAFE · RUS 1000 VAL ETF · ESG AWARE MSCI · RUS 2000 VAL ETF · MORNINGSTAR GRWT · ISHS 5-10YR INVT · GL CLEAN ENE ETF · TIPS BD ETF · S&P SML 600 GWT · U.S. TECH ETF8.17%$41M760.1K
5MSFTMICROSOFT CORPhistory →COM5.47%$27M56.8K
6COINCOINBASE GLOBAL INChistory →COM CL A5.37%$27M119.3K
7COWZPACER FDS TRhistory →US CASH COWS 1005.07%$25M423.4K
8QLTYGMO ETF TRUSThistory →GMO US QUALITY E2.98%$15M389.1K
9DOCNDIGITALOCEAN HLDGS INChistory →COM2.95%$15M307.8K
10CRMSALESFORCE INChistory →COM2.75%$14M52.1K
11PINSPINTEREST INChistory →CL A2.48%$12M481.9K
12VTVVANGUARD INDEX FDSVALUE ETF · MCAP VL IDXVIP · SM CP VAL ETF · TOTAL STK MKT · S&P 500 ETF SHS2.29%$11M57.6K
13OKTAOKTA INChistory →CL A2.14%$11M124.2K
14CASHPATHWARD FINANCIAL INChistory →COM2.05%$10M0
15SPYSPDR S&P 500 ETF TRhistory →TR UNIT1.73%$9M12.8K
16FLJPFRANKLIN TEMPLETON ETF TRhistory →FTSE JAPAN ETF1.53%$8M223.8K
17ESGVVANGUARD WORLD FDESG US STK ETF · ESG INTL STK ETF1.47%$7M72.0K
18LYFTLYFT INChistory →CL A COM1.09%$5M283.7K
19VTEBVANGUARD MUN BD FDSTAX EXEMPT BD · INTERMEDIATE TRM0.89%$4M70.9K
20AAPLAPPLE INCCOM0.74%$4M13.7K
21SPDR SERIES TRUSTSTATE STREET SPD0.65%$3M36.1K
22NOBLPROSHARES TRS&P 500 DV ARIST · DJ BRKFLD GLB0.63%$3M33.8K
23IOTSAMSARA INCCOM CL A0.59%$3M83.4K
24POETPOET TECHNOLOGIES INCCOM NEW0.59%$3M465.7K
25AMERICAN CENTY ETF TRUS SML CP VALU0.49%$2M24.4K
26EWJISHARES INCMSCI JAPAN ETF · CORE MSCI EMKT0.47%$2M29.8K
27LLYELI LILLY & COCOM0.31%$2M1.4K
28ABBVABBVIE INCCOM0.30%$2M6.7K
29RBLXROBLOX CORPCL A0.30%$2M18.6K
30FNDXSCHWAB STRATEGIC TRFUNDAMENTAL US L · FUNDAMENTAL INTL · FUNDAMENTAL US S · INTL EQTY ETF · US SML CAP ETF0.29%$1M49.5K
31ORCLORACLE CORPCOM0.29%$1M7.4K
32IBMINTERNATIONAL BUSINESS MACHSCOM0.27%$1M4.6K
33WMTWALMART INCCOM0.27%$1M12.2K
34QVMTINVESCO EXCH TRADED FD TR IIS&P 500 ENHNCD · RAFI EMRGNG MRKT · RAFI DVLPD MRKTS0.27%$1M30.0K
35TXNTEXAS INSTRS INCCOM0.26%$1M7.5K
36ASANASANA INCCL A0.26%$1M94.2K
37VANGUARD INTL EQUITY INDEX FFTSE SMCAP ETF0.25%$1M8.7K
38PGPROCTER AND GAMBLE COCOM0.25%$1M8.7K
39BEPCBROOKFIELD RENEWABLE CORPCL A EX SUB VTG0.25%$1M32.3K
40ETENERGY TRANSFER L PCOM UT LTD PTN0.23%$1M68.7K
41VEAVANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT0.21%$1M16.6K
42HOODROBINHOOD MKTS INCCOM CL A0.21%$1M9.1K
43MDYSPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP0.20%$1M1.7K
44DASHDOORDASH INCCL A0.20%$994,2474.4K
45JPMJPMORGAN CHASE & CO.COM0.19%$951,9483.0K
46AMGNAMGEN INCCOM0.17%$857,5522.6K
47NVDANVIDIA CORPORATIONCOM0.17%$845,7084.5K
48AFRMAFFIRM HLDGS INCCOM CL A0.16%$801,61110.8K
49HONHONEYWELL INTL INCCOM0.15%$776,2634.0K
50CSCOCISCO SYS INCCOM0.15%$761,1029.9K
51RDDTREDDIT INCCL A0.14%$711,2183.1K
52CVXCHEVRON CORP NEWCOM0.14%$693,5154.5K
53ABTABBOTT LABSCOM0.13%$671,6145.4K
54GLDSPDR GOLD TRGOLD SHS0.13%$659,4601.7K
55AVGOBROADCOM INCCOM0.13%$651,8741.9K
56DPZDOMINOS PIZZA INCCOM0.13%$648,9891.6K
57PFEPFIZER INCCOM0.13%$628,82925.3K
58JNJJOHNSON & JOHNSONCOM0.12%$616,0553.0K
59AMZNAMAZON COM INCCOM0.12%$604,9792.6K
60CARTMAPLEBEAR INCCOM0.11%$573,04512.7K
61TOTLSSGA ACTIVE ETF TRSTATE STREET DOU0.11%$561,94914.0K
62DVNDEVON ENERGY CORP NEWCOM0.11%$544,02914.9K
63TAPMOLSON COORS BEVERAGE COCL B0.11%$531,18611.4K
64KOCOCA COLA COCOM0.10%$522,7787.5K
65BIPCBROOKFIELD INFRASTRUCTURE COCOM SUB VTG A0.10%$517,74211.4K
66MCDMCDONALDS CORPCOM0.10%$511,4271.7K
67MRKMERCK & CO INCCOM0.10%$509,1754.8K
68CMCSACOMCAST CORP NEWCL A0.10%$504,45416.9K
69ITWILLINOIS TOOL WKS INCCOM0.10%$492,6002.0K
70NOCNORTHROP GRUMMAN CORPCOM0.10%$489,240858
71XLVSELECT SECTOR SPDR TRSTATE STREET HEA · STATE STREET ENE0.10%$484,8336.4K
72EPDENTERPRISE PRODS PARTNERS LCOM0.10%$480,90015.0K
73AMKRAMKOR TECHNOLOGY INCCOM0.09%$440,73811.2K
74EXMOCEXXON MOBIL CORPCOM0.08%$403,4883.4K
75AXPAMERICAN EXPRESS COCOM0.08%$397,3261.1K
76GOOGLALPHABET INCCAP STK CL A0.08%$383,4251.2K
77IVZINVESCO LTDSHS0.08%$382,63714.6K
78YUMYUM BRANDS INCCOM0.08%$379,5622.5K
79DISDISNEY WALT COCOM0.08%$377,2403.3K
80HPEHEWLETT PACKARD ENTERPRISE CCOM0.07%$375,74115.6K
81MMACYS INCCOM0.07%$374,55917.0K
82KLACKLA CORPCOM NEW0.07%$366,954302
83SPDR INDEX SHS FDSS&P GBLINF ETF0.07%$339,7174.9K
84VIGIVANGUARD WHITEHALL FDSINTL DVD ETF0.07%$334,1333.7K
85CLCOLGATE PALMOLIVE COCOM0.06%$322,0864.1K
86DALDELTA AIR LINES INC DELCOM NEW0.06%$314,8394.5K
87CFGCITIZENS FINL GROUP INCCOM0.06%$303,4795.2K
88WFCWELLS FARGO CO NEWCOM0.06%$303,4593.3K
89BWABORGWARNER INCCOM0.06%$292,9876.5K
90VTRSVIATRIS INCCOM0.06%$283,16322.7K
91BAPCREDICORP LTDCOM0.06%$281,260980
92CAMAB ACTIVE ETFS INCCALIFORNIA INTER0.06%$279,75911.1K
93JANUS HENDERSON GROUP PLCORD SHS0.06%$278,1835.8K
94SPGIS&P GLOBAL INCCOM0.06%$278,018532
95CADECADENCE BANKCOM0.06%$277,9256.5K
96LEVILEVI STRAUSS & CO NEWCL A COM STK0.05%$276,02013.3K
97KEYKEYCORPCOM0.05%$273,73813.3K
98MURMURPHY OIL CORPCOM0.05%$273,2508.7K
99JXNJACKSON FINANCIAL INCCOM CL A0.05%$272,3922.6K
100CVECENOVUS ENERGY INCCOM0.05%$271,95516.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$476M199Apr 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$502M195Jan 22, 202613F-HRchanges · EDGAR ↗
Q3 2025$532M201Oct 15, 202513F-HRchanges · EDGAR ↗
Q2 2025$552M214Jul 16, 202513F-HRchanges · EDGAR ↗
Q1 2025$488M197Apr 16, 202513F-HRchanges · EDGAR ↗
Q4 2024$501M187Jan 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$510M206Oct 10, 202413F-HRchanges · EDGAR ↗
Q2 2024$545M202Jul 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$565M194Apr 11, 202413F-HRchanges · EDGAR ↗
Q4 2023$489M170Jan 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$444M189Oct 10, 202313F-HRchanges · EDGAR ↗
Q2 2023$462M191Jul 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$437M181Apr 13, 202313F-HRchanges · EDGAR ↗
Q4 2022$375M173Jan 17, 202313F-HRchanges · EDGAR ↗
Q3 2022$350M130Oct 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$358M158Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$535M191Apr 19, 202213F-HRchanges · EDGAR ↗
Q4 2021$623M557Jan 27, 202213F-HRchanges · EDGAR ↗
Q3 2021$581M183Oct 19, 202113F-HRchanges · EDGAR ↗
Q2 2021$214M132Jul 29, 202113F-HRchanges · EDGAR ↗
Q1 2021$193M119Apr 21, 202113F-HRchanges · EDGAR ↗
Q4 2020$183M106Jan 26, 202113F-HRchanges · EDGAR ↗
Q3 2020$183M97Oct 22, 202013F-HRchanges · EDGAR ↗
Q2 2020$231M123Jul 27, 202013F-HRchanges · EDGAR ↗
Q1 2020$176M74Apr 29, 202013F-HRchanges · EDGAR ↗
Q4 2019$191M169Feb 6, 202013F-HRchanges · EDGAR ↗
Q3 2019$180M164Oct 18, 201913F-HRchanges · EDGAR ↗
Q2 2019$176M166Jul 23, 201913F-HRchanges · EDGAR ↗
Q1 2019$165M177May 1, 201913F-HRchanges · EDGAR ↗
Q4 2018$208M188Jan 29, 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 ↗.