Managers / Q3 2023 · view latest →
Carmel Capital Management L.L.C.
CIK 0001878547 · 26350 CARMEL RANCHO LANE, SUITE 225, CARMEL, CA, 93923 · 831-625-1375
Summary
Carmel Capital Management L.L.C. reported $177M in U.S.-listed holdings across 32 positions for Q3 2023.
Its largest position, AVGO, represents 11.1% of the portfolio.
Compared with Q2 2023, the fund opened 2 new positions and exited 2.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 76.7% · $135M
- Other · 12.4% · $22M
- ETP · 10.9% · $19M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| GOOGALPHABET INC | NEW | +3.0K | 3.0K | +$400,824 | $400,824 |
| MLMMARTIN MARIETTA MATLS INC | NEW | +490 | 490 | +$201,135 | $201,135 |
| INVESCO EXCHANGE TRADED FD T | ADDED | +142.0K | 177.8K | −$517,268 | $7M |
| ABJAABB LTD | SOLD OUT | −135.2K | 0 | −$5M | $0 |
| PFEPFIZER INC | SOLD OUT | −5.8K | 0 | −$210,910 | $0 |
| AVOMISSION PRODUCE INC | TRIMMED | −56.4K | 164.3K | −$1M | $2M |
| MSFTMICROSOFT CORP | ADDED | +400 | 2.5K | +$73,150 | $803,268 |
| VSTVISTRA CORP | ADDED | +31.1K | 245.2K | +$3M | $8M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | AVGOBROADCOM INChistory → | COM | 11.14% | $20M | 23.7K |
| 2 | NXP SEMICONDUCTORS N V | COM | 7.25% | $13M | 64.0K |
| 3 | AMATAPPLIED MATLS INChistory → | COM | 7.05% | $12M | 89.9K |
| 4 | AAPLAPPLE INChistory → | COM | 6.49% | $11M | 66.9K |
| 5 | ASML HOLDING N V | N Y REGISTRY SHS | 5.19% | $9M | 15.6K |
| 6 | JPMJPMORGAN CHASE & COhistory → | COM | 5.09% | $9M | 62.0K |
| 7 | KLACKLA CORPhistory → | COM NEW | 4.61% | $8M | 17.8K |
| 8 | VSTVISTRA CORPhistory → | COM | 4.61% | $8M | 245.2K |
| 9 | GPKGRAPHIC PACKAGING HLDG COhistory → | COM | 4.45% | $8M | 353.0K |
| 10 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 4.35% | $8M | 21.9K |
| 11 | TERTERADYNE INChistory → | COM | 3.93% | $7M | 69.1K |
| 12 | AZOAUTOZONE INChistory → | COM | 3.88% | $7M | 2.7K |
| 13 | INVESCO EXCHANGE TRADED FD T | S&P500 EQL IND | 3.86% | $7M | 177.8K |
| 14 | VLOVALERO ENERGY CORPhistory → | COM | 3.85% | $7M | 48.0K |
| 15 | EWBCEAST WEST BANCORP INChistory → | COM | 3.43% | $6M | 114.8K |
| 16 | RTXRTX CORPORATIONhistory → | COM | 2.83% | $5M | 69.4K |
| 17 | EXCHANGE TRADED CONCEPTS TR | ROBO GLB ETF | 2.74% | $5M | 96.0K |
| 18 | RBCRBC BEARINGS INChistory → | COM | 2.67% | $5M | 20.1K |
| 19 | TRVCCITIGROUP INChistory → | COM NEW | 2.47% | $4M | 105.8K |
| 20 | ENSENERSYShistory → | COM | 2.17% | $4M | 40.5K |
| 21 | WISDOMTREE TR | INDIA ERNGS FD | 1.91% | $3M | 91.7K |
| 22 | FISVFISERV INChistory → | COM | 1.45% | $3M | 22.7K |
| 23 | SPDR SER TR | S&P BIOTECH | 0.95% | $2M | 23.1K |
| 24 | AVOMISSION PRODUCE INC | COM | 0.90% | $2M | 164.3K |
| 25 | GLOBAL X FDS | LITHIUM BTRY ETF | 0.89% | $2M | 28.6K |
| 26 | VANECK ETF TRUST | SEMICONDUCTR ETF · AGRIBUSINESS ETF | 0.55% | $963,569 | 8.0K |
| 27 | MSFTMICROSOFT CORP | COM | 0.45% | $803,268 | 2.5K |
| 28 | JNJJOHNSON & JOHNSON | COM | 0.35% | $615,213 | 4.0K |
| 29 | GOOGALPHABET INC | CAP STK CL C | 0.23% | $400,824 | 3.0K |
| 30 | EMREMERSON ELEC CO | COM | 0.14% | $246,254 | 2.5K |
| 31 | MLMMARTIN MARIETTA MATLS INC | COM | 0.11% | $201,135 | 490 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $349M | 25 | Apr 24, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $330M | 23 | Jan 28, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $329M | 25 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $297M | 25 | Aug 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $246M | 25 | Apr 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $265M | 26 | Jan 21, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $267M | 28 | Oct 17, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $257M | 27 | Aug 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $243M | 30 | Apr 22, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $208M | 31 | Jan 22, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $177M | 32 | Oct 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $193M | 32 | Jul 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $175M | 33 | Apr 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $162M | 35 | Jan 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $153M | 35 | Oct 27, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $161M | 36 | Jul 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $192M | 37 | Apr 19, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $204M | 38 | Feb 17, 2022 | 13F-HR | changes · 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 ↗.