Managers / Q4 2025 · view latest →

Select Asset Management & Trust

CIK 0001600636 · 4732 GETTYSBURG ROAD, SUITE 401, MECHANICSBURG, PA, 17055 · 7179721300

Reported Value

$322M

Q4 2025

Positions

Filings on Record

2019–present window

Filed

Feb 10, 2026

original filing

Summary

Select Asset Management & Trust reported $322M in U.S.-listed holdings across 92 positions for Q4 2025.

The portfolio is heavily concentrated: SPY alone accounts for 34.1% of reported value.

Compared with Q3 2025, the fund opened 2 new positions and exited 9.

Portfolio Metrics

Turnover

+5.1%

vs prior filed quarter

Top-10 Concentration

+77.5%

share of reported value

Largest Position

+34.1%

S P 500 Spiders

New / Exited

2 / 9

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

Portfolio Composition

By security type

ETP · 75.9% · $244M
Common Stock · 23.4% · $75M
Other · 0.4% · $1M
ADR · 0.3% · $869,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
V Visa Inc	NEW	+1.1K	1.1K	+$381,000	$381,000
CSCO Cisco Systems Inc	NEW	+2.8K	2.8K	+$215,000	$215,000
NFLX Netfllix Inc	ADDED	+3.6K	4.0K	−$106,000	$380,000
PPL PPL Corporation	ADDED	+10.0K	15.5K	+$339,000	$543,000
EEM iShares MSCI Emerging Markets	SOLD OUT	−76.5K	0	−$4M	$0
IJR iShares SC S&P 600	SOLD OUT	−23.0K	0	−$3M	$0
SSO Ultra S&P 500 Proshares	SOLD OUT	−7.0K	0	−$785,000	$0
TFC Truist Financial Corp	SOLD OUT	−7.1K	0	−$324,000	$0

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

Holdings — Q4 2025

76 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	SPY S&P 500 Spiders history →	ETF	34.14%	$110M	160.9K
2	DIA Dow Diamonds - SPDR Dow Jones history →	ETF	8.73%	$28M	58.4K
3	VIG Vanguard Dividend Appreciation history →	ETF	8.38%	$27M	122.6K
4	VYM Vanguard High Div Yield history →	ETF	6.08%	$20M	136.2K
5	MGV Vanguard Mega Cap Value history →	ETF	4.62%	$15M	105.3K
6	EME Emcor Group Inc history →	COM	4.33%	$14M	22.8K
7	EFA MSCI EAFE Index history →	ETF	3.24%	$10M	108.6K
8	OEF iShares S&P 100 Index history →	ETF	3.03%	$10M	28.4K
9	AAPL Apple Computer, Inc.history →	COM	2.91%	$9M	34.4K
10	USMV iShares MSCI USA Minimum Vol history →	ETF	2.06%	$7M	70.4K
11	EXMOC Exxon Mobil Corp.history →	COM	1.76%	$6M	47.1K
12	VIGI Vanguard Int Div App Index history →	ETF	1.60%	$5M	56.2K
13	VGK Vanguard European Stock history →	ETF	1.60%	$5M	61.3K
14	MSFT Microsoft Corp history →	COM	1.37%	$4M	9.1K
15	JPM J.P. Morgan Chase history →	COM	1.32%	$4M	13.2K
16	AMZN Amazon.com Inc history →	COM	1.09%	$4M	15.2K
17	CSL Carlisle Companies Inc history →	COM	1.05%	$3M	10.5K
18	BRK/B Berkshire Hathaway Inc. Cl B	COM	0.98%	$3M	6.3K
19	MCD McDonald's Corp	COM	0.95%	$3M	10.0K
20	GOOG Alphabet Inc - C Shares	COM	0.61%	$2M	6.2K
21	Clearwater Analytics Holdings - Class A	COM	0.53%	$2M	71.3K
22	GDX Market Vectors Gold Miners	ETF	0.53%	$2M	20.0K
23	NVDA NVIDIA Corp	COM	0.50%	$2M	8.7K
24	ABBV ABBVIE INC	COM	0.46%	$1M	6.5K
25	VOO Vanguard S&P 500 ETF	ETF	0.46%	$1M	2.4K
26	UTZ Utz Brands, Inc.	COM	0.36%	$1M	110.5K
27	META Meta Platforms Inc	COM	0.28%	$911,000	1.4K
28	PFE Pfizer Inc	COM	0.28%	$905,000	36.3K
29	HCA HCA Inc.	COM	0.25%	$815,000	1.7K
30	HSY Hershey Foods Corp	COM	0.25%	$801,000	4.4K
31	EHC Encompass Health Corporation	COM	0.24%	$784,000	7.4K
32	VWO Vanguard Emerging Markets	ETF	0.23%	$754,000	14.0K
33	VV Vanguard Large Cap	ETF	0.23%	$745,000	2.4K
34	CVX Chevron Texaco Corporation	COM	0.22%	$704,000	4.6K
35	BBT Berkshire Hills Bancorp Inc	COM	0.21%	$688,000	26.1K
36	JNJ Johnson & Johnson	COM	0.21%	$680,000	3.3K
37	ABT Abbott Labs	COM	0.20%	$652,000	5.2K
38	MRK Merck & Co Inc.	COM	0.19%	$619,000	5.9K
39	MA Mastercard	COM	0.19%	$603,000	1.1K
40	BAC Bank of America	COM	0.18%	$567,000	10.3K
41	XLF Financial Select Sector	ETF	0.17%	$550,000	10.0K
42	GOOGL Alphabet Inc - A Shares	COM	0.17%	$548,000	1.8K
43	PPL PPL Corporation	COM	0.17%	$543,000	15.5K
44	BX Blackstone Group LP	ETF	0.17%	$541,000	3.5K
45	SHEL Sheldahl, Inc.	COM	0.16%	$520,000	7.1K
46	SLV iShares Silver Trust	ETF	0.16%	$515,000	8.0K
47	FDX Fed-Ex Corporation	COM	0.16%	$514,000	1.8K
48	CIE Financiere Richemon	COM	0.16%	$507,000	2.3K
49	IVW iShares S&P 500 BARA Growth Index	ETF	0.14%	$452,000	3.7K
50	Heineken Holding ORD EUR1.6	COM	0.14%	$451,000	6.1K
51	PM Phillip Morris International	COM	0.14%	$446,000	2.8K
52	PAYC Paycom Software Inc	COM	0.12%	$398,000	2.5K
53	INTU Intuit Inc	COM	0.12%	$397,000	600
54	C Citigroup	COM	0.12%	$382,000	3.3K
55	V Visa Inc	COM	0.12%	$381,000	1.1K
56	NFLX Netfllix Inc	COM	0.12%	$380,000	4.0K
57	LMT Lockheed Martin	COM	0.11%	$359,000	742
58	NSRGY Nestle SA ADR	COM	0.11%	$349,000	3.5K
59	NEE NextEra Energy, Inc.	COM	0.11%	$344,000	4.3K
60	VUG Vanguard Growth Vipers	ETF	0.10%	$337,000	690
61	HD Home Depot, Inc.	COM	0.10%	$333,000	969
62	PEG Public Service Enterprise Group	COM	0.10%	$329,000	4.1K
63	Ashtead Group	COM	0.10%	$328,000	4.8K
64	SHOP Shopify Inc	COM	0.10%	$322,000	2.0K
65	UBER Uber Technologies	COM	0.10%	$308,000	3.8K
66	MLM Martin Marietta Materials	COM	0.09%	$301,000	484
67	VNQ Vanguard REIT Index	ETF	0.09%	$283,000	3.2K
68	IBIT iShares Bitcoin Trust ETF	ETF	0.09%	$281,000	5.7K
69	GS Goldman, Sachs & Co.	COM	0.08%	$271,000	308
70	GLD Streettracks Gold Shares	ETF	0.08%	$264,000	666
71	IVE iShares S&P 500 Value	ETF	0.08%	$254,000	1.2K
72	APD Air Products & Chemical Inc	COM	0.08%	$247,000	1.0K
73	XLK Amex Technology Select Index	ETF	0.07%	$236,000	1.6K
74	CSCO Cisco Systems Inc	COM	0.07%	$215,000	2.8K
75	PG Procter & Gamble Company	COM	0.06%	$208,000	1.5K
76	UA Under Armour Inc - Class C	COM	0.02%	$70,000	14.6K

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q1 2026	$320M	93	May 15, 2026	13F-HR	changes · EDGAR ↗
Q4 2025	$322M	92	Feb 10, 2026	13F-HR	changes · EDGAR ↗
Q3 2025	$325M	98	Oct 30, 2025	13F-HR	changes · EDGAR ↗
Q2 2025	$292M	92	Aug 14, 2025	13F-HR	changes · EDGAR ↗
Q1 2025	$250M	84	May 12, 2025	13F-HR	changes · EDGAR ↗
Q4 2024	$258M	86	Feb 13, 2025	13F-HR	changes · EDGAR ↗
Q3 2024	$272M	83	Nov 14, 2024	13F-HR	changes · EDGAR ↗
Q2 2024	$251M	77	Aug 12, 2024	13F-HR	changes · EDGAR ↗
Q1 2024	$241M	76	May 14, 2024	13F-HR	changes · EDGAR ↗
Q4 2023	$203M	79	Feb 13, 2024	13F-HR	changes · EDGAR ↗
Q3 2023	$172M	74	Nov 13, 2023	13F-HR	changes · EDGAR ↗
Q2 2023	$164M	76	Aug 11, 2023	13F-HR	changes · EDGAR ↗
Q1 2023	$113M	67	May 12, 2023	13F-HR	changes · EDGAR ↗
Q4 2022	$83M	58	Feb 9, 2023	13F-HR	changes · EDGAR ↗
Q3 2022	$84M	63	Nov 14, 2022	13F-HR	changes · EDGAR ↗
Q2 2022	$93M	65	Aug 12, 2022	13F-HR	changes · EDGAR ↗
Q1 2022	$117M	69	May 13, 2022	13F-HR	changes · EDGAR ↗
Q4 2021	$151M	71	Feb 8, 2022	13F-HR	changes · EDGAR ↗
Q3 2021	$139M	69	Nov 9, 2021	13F-HR	changes · EDGAR ↗
Q2 2021	$176M	73	Aug 10, 2021	13F-HR	changes · EDGAR ↗
Q1 2021	$150M	70	May 13, 2021	13F-HR	changes · EDGAR ↗
Q4 2020	$125M	69	Feb 12, 2021	13F-HR	changes · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

Gardner Russo & Quinn LLC028-02635

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 ↗.