SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Bristlecone Advisors, LLC

CIK 0001671716 · 10900 NE 4TH STREET, SUITE 1920, BELLEVUE, WA, 98004 · 206-664-2500

Reported Value
$1.2B
Q2 2025
Positions
296
Filings on Record
28
2019–present window
Filed
Aug 4, 2025
original filing

Summary

Bristlecone Advisors, LLC reported $1.2B in U.S.-listed holdings across 296 positions for Q2 2025.

Its largest position, MSFT, represents 13.2% of the portfolio.

Compared with Q1 2025, the fund opened 8 new positions and exited 92.

Portfolio Metrics

Turnover
+8.4%
vs prior filed quarter
Top-10 Concentration
+41.8%
share of reported value
Largest Position
+13.2%
Microsoft
New / Exited
8 / 92
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: $333MQ4 ’18Q1 ’19: $357MQ2 ’19: $421MQ3 ’19: $411MQ4 ’19: $498MQ4 ’19Q1 ’20: $419MQ2 ’20: $494MQ3 ’20: $548MQ4 ’20: $629MQ4 ’20Q1 ’21: $662MQ2 ’21: $739MQ3 ’21: $764MQ4 ’21: $833MQ4 ’21Q1 ’22: $814MQ2 ’22: $810MQ3 ’22: $766MQ4 ’22: $816MQ4 ’22Q1 ’23: $912MQ2 ’23: $995MQ3 ’23: $890MQ4 ’23: $990MQ4 ’23Q1 ’24: $1.1BQ2 ’24: $1.2BQ3 ’24: $1.2BQ4 ’24: $1.3BQ4 ’24Q1 ’25: $1.2BQ2 ’25: $1.2BQ3 ’25: $1.2Bfilingsflow.com

Portfolio Composition

By security type
ETP: 50.5%Common Stock: 48.6%REIT: 0.5%Other: 0.3%ADR: 0.1%
  • ETP · 50.5% · $602M
  • Common Stock · 48.6% · $579M
  • REIT · 0.5% · $6M
  • Other · 0.3% · $3M
  • ADR · 0.1% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BTCGRAYSCALE BITCOIN MINI TR ETNEW+18.9K18.9K+$901,138$901,138
ORCLORACLE CORPNEW+1.0K1.0K+$227,376$227,376
IDXXIDEXX LABS INCNEW+401401+$215,073$215,073
NVSNNOVARTIS AGNEW+1.7K1.7K+$208,864$208,864
VANGUARD WELLINGTON FDNEW+2.0K2.0K+$201,961$201,961
FLEXSHARES TRNEW+2.0K2.0K+$80,707$80,707
ISHARES TRNEW+370370+$55,648$55,648
SCHWAB STRATEGIC TRNEW+1414+$335$335

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

Holdings — Q2 2025

37 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRCORE S&P500 ETF · CORE US AGGBD ET · CORE S&P MCP ETF · CORE S&P SCP ETF · RUS MID CAP ETF · MSCI EAFE ETF14.08%$168M1.37M
2MSFTMICROSOFT CORPhistory →COM13.19%$157M315.8K
3VUGVANGUARD INDEX FDSLARGE CAP ETF · SMALL CP ETF · GROWTH ETF · TOTAL STK MKT · MID CAP ETF6.03%$72M242.4K
4SCHWAB STRATEGIC TRUS LRG CAP ETF · INTL EQTY ETF3.65%$43M1.84M
5NVDANVIDIA CORPORATIONhistory →COM3.49%$42M262.8K
6AAPLAPPLE INChistory →COM3.42%$41M198.5K
7SPDR INDEX SHS FDSPORTFOLIO DEVLPD3.24%$39M953.1K
8AMZNAMAZON COM INChistory →COM2.90%$35M157.3K
9SPDR SERIES TRUSTPORTFOLIO AGRGTE · PRTFLO S&P500 GW2.54%$30M979.5K
10WISDOMTREE TRUS LARGECAP DIVD · FLOATNG RAT TREA2.26%$27M392.5K
11COSTCOSTCO WHSL CORP NEWhistory →COM2.22%$26M26.7K
12AJGGALLAGHER ARTHUR J & COhistory →COM1.82%$22M67.8K
13SELECT SECTOR SPDR TRTECHNOLOGY1.63%$19M76.8K
14GOOGLALPHABET INChistory →CAP STK CL A1.57%$19M106.2K
15VANGUARD BD INDEX FDSTOTAL BND MRKT1.51%$18M243.9K
16VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT1.25%$15M260.5K
17METAMETA PLATFORMS INChistory →CL A1.22%$15M19.7K
18SPDR S&P 500 ETF TRTR UNIT1.21%$14M23.4K
19J P MORGAN EXCHANGE TRADED FULTRA SHRT ETF1.18%$14M276.4K
20GOLDMAN SACHS ETF TRULTRA SHORT BOND · ACCESS US AGRAT1.10%$13M284.3K
21JPMJPMORGAN CHASE & CO.history →COM0.86%$10M35.2K
22BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.83%$10M20.2K
23NDQINVESCO QQQ TRUNIT SER 10.73%$9M15.7K
24VANGUARD WORLD FDINF TECH ETF0.71%$8M12.8K
25PLTRPALANTIR TECHNOLOGIES INCCL A0.71%$8M62.0K
26FTNTFORTINET INCCOM0.68%$8M76.5K
27VVISA INCCOM CL A0.67%$8M22.6K
28VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.63%$7M151.5K
29TSLATESLA INCCOM0.61%$7M23.0K
30NFLXNETFLIX INCCOM0.61%$7M5.5K
31JNJJOHNSON & JOHNSONCOM0.52%$6M40.6K
32HDHOME DEPOT INCCOM0.51%$6M16.5K
33NKENIKE INCCL B0.48%$6M80.6K
34TRVTRAVELERS COMPANIES INCCOM0.45%$5M19.8K
35SBUXSTARBUCKS CORPCOM0.44%$5M56.6K
36AMGNAMGEN INCCOM0.40%$5M17.1K
37CITCINTAS CORPCOM0.40%$5M21.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$1.2B233Oct 24, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.2B296Aug 4, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.2B380May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.3B376Jan 29, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.2B365Oct 24, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.2B291Jul 25, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.1B270Apr 22, 202413F-HRchanges · EDGAR ↗
Q4 2023$990M272Jan 25, 202413F-HRchanges · EDGAR ↗
Q3 2023$890M260Oct 16, 202313F-HRchanges · EDGAR ↗
Q2 2023$995M278Aug 3, 202313F-HRchanges · EDGAR ↗
Q1 2023$912M353May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$816M256Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$766M242Oct 27, 202213F-HRchanges · EDGAR ↗
Q2 2022$810M248Jul 25, 202213F-HRchanges · EDGAR ↗
Q1 2022$814M234Apr 22, 202213F-HRchanges · EDGAR ↗
Q4 2021$833M236Jan 19, 202213F-HRchanges · EDGAR ↗
Q3 2021$764M221Oct 19, 202113F-HRchanges · EDGAR ↗
Q2 2021$739M220Jul 21, 202113F-HRchanges · EDGAR ↗
Q1 2021$662M214Apr 30, 202113F-HRchanges · EDGAR ↗
Q4 2020$629M201Jan 25, 202113F-HRchanges · EDGAR ↗
Q3 2020$548M201Oct 20, 202013F-HRchanges · EDGAR ↗
Q2 2020$494M165Jul 16, 202013F-HRchanges · EDGAR ↗
Q1 2020$419M151Apr 16, 202013F-HRchanges · EDGAR ↗
Q4 2019$498M200Jan 21, 202013F-HRchanges · EDGAR ↗
Q3 2019$411M144Oct 28, 201913F-HRchanges · EDGAR ↗
Q2 2019$421M178Jul 19, 201913F-HRchanges · EDGAR ↗
Q1 2019$357M98Apr 23, 201913F-HRchanges · EDGAR ↗
Q4 2018$333M142Jan 15, 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 ↗.