SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Matrix Trust Co

CIK 0001784277 · 717 17TH STREET, SUITE 1300, DENVER, CO, 80202 · 866-935-6824

Reported Value
$606M
Q4 2025
Positions
222
Filings on Record
29
2019–present window
Filed
Jan 13, 2026
original filing

Summary

Matrix Trust Co reported $606M in U.S.-listed holdings across 222 positions for Q4 2025.

The portfolio is heavily concentrated: ILCV alone accounts for 33.7% of reported value.

Compared with Q3 2025, the fund opened 38 new positions and exited 72.

Portfolio Metrics

Turnover
+5.1%
vs prior filed quarter
Top-10 Concentration
+86.7%
share of reported value
Largest Position
+33.7%
Ishares Tr
New / Exited
38 / 72
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
Q2 ’19: $398MQ2 ’19Q3 ’19: $450MQ4 ’19: $469MQ1 ’20: $370MQ2 ’20: $392MQ2 ’20Q3 ’20: $341MQ4 ’20: $356MQ1 ’21: $366MQ2 ’21: $382MQ2 ’21Q3 ’21: $391MQ4 ’21: $412MQ1 ’22: $405MQ2 ’22: $362MQ2 ’22Q3 ’22: $351MQ1 ’23: $371MQ2 ’23: $388MQ3 ’23: $383MQ3 ’23Q4 ’23: $427MQ1 ’24: $442MQ2 ’24: $443MQ3 ’24: $535MQ3 ’24Q4 ’24: $575MQ1 ’25: $593MQ2 ’25: $628MQ3 ’25: $639MQ3 ’25Q4 ’25: $606MQ1 ’26: $602MQ2 ’26: $690Mfilingsflow.com

Portfolio Composition

By security type
ETP: 88.5%Common Stock: 11.2%ADR: 0.3%Other: 0.0%REIT: 0.0%Closed-End Fund: 0.0%
  • ETP · 88.5% · $536M
  • Common Stock · 11.2% · $68M
  • ADR · 0.3% · $2M
  • Other · 0.0% · $264,000
  • REIT · 0.0% · $19,000
  • Closed-End Fund · 0.0% · $0

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GDGENERAL DYNAMICS CORPNEW+5.5K5.5K+$2M$2M
AORISHARES TRNEW+22.0K22.0K+$1M$1M
CORCENCORA INCNEW+4.2K4.2K+$1M$1M
DGROISHARES TRNEW+19.0K19.0K+$1M$1M
XELXCEL ENERGY INCNEW+17.7K17.7K+$1M$1M
NUNU HLDGS LTDNEW+33.5K33.5K+$561,000$561,000
AMKRAMKOR TECHNOLOGY INCNEW+619619+$24,000$24,000
SNDRSCHNEIDER NATIONAL INCNEW+789789+$21,000$21,000

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

Holdings — Q4 2025

194 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ILCVISHARES TRMRNGSTR LG-CP VL · S&P 500 INDEX · CORE US AGGBD ET · MRGSTR MD CP VAL · MRGSTR MD CP GRW · MRGSTR MD CP ETF · MRNING SM CP ETF · MRGSTR SM CP GR · ISHARES SEMICDTR · 7-10 YR TRSY BD · 0-5 YR TIPS ETF · CORE 60/40 BALAN · CORE DIV GRWTH · 20 YR TR BD ETF · BLACKROCK ULTRA · TIPS BD ETF · GLOBAL REIT ETF · MSCI INDIA ETF · GLOBAL 100 ETF · MSCI CHINA ETF33.67%$204M2.08M
2SCHFSCHWAB STRATEGIC TRINTL EQTY ETF · US TIPS ETF · US LRG CAP ETF · US SML CAP ETF23.54%$143M5.51M
3VEAVANGUARD TAX MANAGED INTL FDhistory →FTSE DEV MKT ETF7.62%$46M739.5K
4VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF · ALLWRLD EX US · TT WRLD ST ETF · FTSE SMCAP ETF6.90%$42M767.9K
5VCSHVANGUARD SCOTTSDALE FDSSHRT TRM CORP BD · INT-TERM CORP5.67%$34M422.2K
6VOOVANGUARD INDEX FDSS&P 500 ETF SHS · REAL ESTATE ETF5.25%$32M88.0K
7XLCSELECT SECTOR SPDR TRCOMMUNICATION · ENERGY1.39%$8M128.7K
8BNDVANGUARD BD INDEX FDShistory →TOTAL BND MRKT1.26%$8M103.0K
9GLDSPDR GOLD TRUSTGOLD SHS0.72%$4M11.0K
10BILSPDR SER TRBLOOMBERG 1-3 MO0.67%$4M44.2K
11AAPLAPPLE INCCOM0.62%$4M13.8K
12AVGOBROADCOM INCCOM0.60%$4M10.5K
13MSFTMICROSOFT CORPCOM0.52%$3M6.5K
14ABBVABBVIE INCCOM0.50%$3M13.2K
15JPMJPMORGAN CHASE & COCOM0.50%$3M9.4K
16MRKMERCK & CO INCCOM0.43%$3M24.9K
17MSMORGAN STANLEYCOM NEW0.42%$3M14.5K
18LLYELI LILLY & COCOM0.39%$2M2.2K
19RTXRAYTHEON TECHNOLOGIES CORPCOM0.36%$2M12.0K
20GSGOLDMAN SACHS GROUP INCCOM0.36%$2M2.5K
21CCITIGROUP INCCOM NEW0.36%$2M18.8K
22EXMOCEXXON MOBIL CORPCOM0.35%$2M17.6K
23MCDMCDONALDS CORPCOM0.34%$2M6.7K
24COSTCOSTCO WHSL CORP NEWCOM0.32%$2M2.3K
25SOSOUTHERN COCOM0.32%$2M22.0K
26GDGENERAL DYNAMICS CORPCOM0.31%$2M5.5K
27SPDR INDEX SHS FDSPORTFOLIO EMG MK0.30%$2M39.0K
28FASTFASTENAL COCOM0.29%$2M44.5K
29XHLFBONDBLOXX ETF TRUSTBLOOMBERG SIX MN0.29%$2M35.1K
30HDHOME DEPOT INCCOM0.29%$2M5.1K
31IBMINTERNATIONAL BUSINESS MACHSCOM0.26%$2M5.3K
32WECWEC ENERGY GROUP INCCOM0.25%$2M14.3K
33TROWPRICE T ROWE GROUP INCCOM0.24%$1M14.0K
34CORCENCORA INCCOM0.23%$1M4.2K
35PAYXPAYCHEX INCCOM0.22%$1M11.8K
36XELXCEL ENERGY INCCOM0.22%$1M17.7K
37GLDMWORLD GOLD TRSPDR GLD MINIS0.21%$1M14.6K
38HDBHDFC BANK LTDSPONSORED ADS0.19%$1M31.5K
39SGITEMPUR SEALY INTL INCCOM0.18%$1M12.2K
40HGERHARBOR ETF TRUSTHARBOR COMMODITY0.18%$1M43.4K
41PCARPACCAR INCCOM0.18%$1M9.7K
42VXUSVANGUARD STAR FDSVG TL INTL STK F0.17%$1M14.0K
43CVXCHEVRON CORP NEWCOM0.16%$956,0006.3K
44VPUVANGUARD WORLD FDSUTILITIES ETF0.12%$741,0004.0K
45ETNEATON CORP PLCSHS0.12%$741,0002.3K
46NVDANVIDIA CORPORATIONCOM0.10%$580,0003.1K
47UBERUBER TECHNOLOGIES INCCOM0.09%$575,0007.0K
48TSMTAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADS0.09%$574,0001.9K
49MELIMERCADOLIBRE INCCOM0.09%$574,000285
50GOOGLALPHABET INCCAP STK CL A0.09%$572,0001.8K
51PGRPROGRESSIVE CORPCOM0.09%$572,0002.5K
52APPAPPLOVING CORPCOM CL A0.09%$567,000841
53METAMETA PLATFORMS INCCL A0.09%$562,000852
54BKNGBOOKING HOLDINGS INCCOM0.09%$562,000105
55GE AEROSPACECOM NEW0.09%$562,0001.8K
56NUNU HLDGS LTDORD SHS CL A0.09%$561,00033.5K
57VVISA INCCOM CL A0.09%$561,0001.6K
58MAMASTERCARD INCORPORATEDCL A0.09%$559,000979
59USFRWISDOMTREE TRFLOATNG RAT TREA0.09%$557,00011.1K
60MCOMOODYS CORPCOM0.09%$548,0001.1K
61AMZNAMAZON COM INCCOM0.09%$545,0002.4K
62FIRST TR EXCH TRADED FD IIIPFD SECS INC ETF0.06%$341,00018.7K
63VTIPVANGUARD MALVERN FDSSTRM INFPROIDX0.06%$341,0006.9K
64FLTRVANECK ETF TRUSTIG FLOATING RATE0.06%$340,00013.3K
65RLYSSGA ACTIVE ETF TRMUL ASS RLRTN0.05%$324,00010.3K
66ACVUHARTFORD FDS EXCHANGE TRADEDHARTFORD QUALITY0.05%$299,00010.9K
67ASA GOLD AND PRECIOUS MTLS LSHS0.04%$236,0004.0K
68NEW YORK LIFE INVESTMENTS ETNYLI HEDGE MULTI0.04%$235,0007.0K
69DBMFLITMAN GREGORY FDS TRIMGP DBI MANAGED0.04%$232,0008.3K
70QISSIMPLIFY EXCHANGE TRADED FUNMULTI QIS ALTERN0.04%$230,00015.5K
71SLVISHARES SILVER TRUSTISHARES0.02%$133,0002.1K
72EMREMERSON ELEC COCOM0.02%$114,000857
73TXNTEXAS INSTRS INCCOM0.02%$111,000638
74IAUISHARES GOLD TRISHARES NEW0.02%$109,0001.3K
75JBLJABIL INCCOM0.02%$104,000458
76BWABORGWARNER INCCOM0.02%$92,0002.0K
77CLFCLEVELAND-CLIFFS INC NEWCOM0.01%$73,0005.5K
78CSCOCISCO SYS INCCOM0.01%$69,000891
79ATKRATKORE INCCOM0.01%$68,0001.1K
80HOGHARLEY DAVIDSON INCCOM0.01%$67,0003.3K
81DXCDXC TECHNOLOGY COCOM0.01%$67,0004.6K
82CRCRANE COMPANYCOMMON STOCK0.01%$67,000362
83SWKSSKYWORKS SOLUTIONS INCCOM0.01%$65,0001.0K
84CCCHEMOURS COCOM0.01%$65,0005.5K
85HUNHUNTSMAN CORPCOM0.01%$65,0006.5K
86WMTWALMART INCCOM0.01%$61,000547
87FCXFREEPORT-MCMORAN INCCL B0.01%$60,0001.2K
88TRNTRINITY INDS INCCOM0.01%$56,0002.1K
89PEPPEPSICO INCCOM0.01%$55,000382
90BDCBELDEN INCCOM0.01%$54,000464
91VSHVISHAY INTERTECHNOLOGY INCCOM0.01%$54,0003.7K
92ALBALBEMARLE CORPCOM0.01%$50,000354
93TSNTYSON FOODS INCCL A0.01%$48,000818
94GPCGENUINE PARTS COCOM0.01%$48,000393
95MSMMSC INDL DIRECT INCCL A0.01%$45,000541
96JNJJOHNSON & JOHNSONCOM0.01%$45,000219
97AMGNAMGEN INCCOM0.01%$45,000136
98CASYCASEYS GEN STORES INCCOM0.01%$45,00082
99GGGGRACO INCCOM0.01%$45,000555
100RPMRPM INTL INCCOM0.01%$43,000417

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$690M101Jul 9, 202613F-HRchanges · EDGAR ↗
Q1 2026$602M178Apr 10, 202613F-HRchanges · EDGAR ↗
Q4 2025$606M222Jan 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$639M249Oct 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$628M255Jul 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$593M255Apr 10, 202513F-HRchanges · EDGAR ↗
Q4 2024$575M251Jan 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$535M239Oct 9, 202413F-HRchanges · EDGAR ↗
Q2 2024$443M171Jul 10, 202413F-HRchanges · EDGAR ↗
Q1 2024$442M84May 6, 202413F-HRchanges · EDGAR ↗
Q4 2023$427M70Feb 5, 202413F-HRchanges · EDGAR ↗
Q3 2023$383M64Oct 30, 202313F-HRchanges · EDGAR ↗
Q2 2023$388M59Jul 19, 202313F-HRchanges · EDGAR ↗
Q1 2023$371M64Apr 12, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review51Jan 24, 202313F-HRchanges · EDGAR ↗
Q3 2022$351M48Oct 25, 202213F-HRchanges · EDGAR ↗
Q2 2022$362M53Aug 3, 202213F-HRchanges · EDGAR ↗
Q1 2022$405M52Apr 18, 202213F-HRchanges · EDGAR ↗
Q4 2021$412M20Feb 3, 202213F-HRchanges · EDGAR ↗
Q3 2021$391M20Oct 19, 202113F-HRchanges · EDGAR ↗
Q2 2021$382M20Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$366M20May 6, 202113F-HRchanges · EDGAR ↗
Q4 2020$356M22Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$341M26Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$392M29Aug 4, 202013F-HRchanges · EDGAR ↗
Q1 2020$370M29May 6, 202013F-HRchanges · EDGAR ↗
Q4 2019$469M27Jan 21, 202013F-HRchanges · EDGAR ↗
Q3 2019$450M26Oct 30, 201913F-HRchanges · EDGAR ↗
Q2 2019$398M24Aug 1, 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 ↗.