Managers / Q3 2025 · view latest →
Stephenson & Company, Inc.
CIK 0002001544 · 241 AVENIDA DEL MAR, SAN CLEMENTE, CA, 92672 · 949-727-4255
Summary
Stephenson & Company, Inc. reported $174M in U.S.-listed holdings across 43 positions for Q3 2025.
The portfolio is heavily concentrated: IVV alone accounts for 29.8% of reported value.
Compared with Q2 2025, the fund opened 2 new positions and exited 1.
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, 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
Portfolio Composition
- ETP · 81.4% · $142M
- Common Stock · 18.5% · $32M
- Other · 0.1% · $200,898
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| VOOVANGUARD INDEX FDS | NEW | +426 | 426 | +$260,570 | $260,570 |
| MISTMILESTONE PHARMACEUTICALS IN | NEW | +20.0K | 20.0K | +$40,000 | $40,000 |
| TSLATESLA INC | SOLD OUT | −779 | 0 | −$247,457 | $0 |
| VUGVANGUARD INDEX FDS | TRIMMED | −54 | 531 | −$1,791 | $254,673 |
| TIPISHARES TR | ADDED | +2.4K | 35.7K | +$310,125 | $4M |
| IWDISHARES TR | TRIMMED | −102 | 1.6K | −$4,766 | $327,257 |
| ESGDISHARES TR | ADDED | +187 | 3.9K | +$31,416 | $364,296 |
| GLDSPDR GOLD TR | HELD | −50 | 1.1K | +$40,158 | $388,884 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IVVISHARES TR | CORE S&P500 ETF · CORE S&P SCP ETF · CORE S&P MCP ETF · TIPS BD ETF · NATIONAL MUN ETF · CORE S&P TTL STK · JPMORGAN USD EMG · RUSSELL 2000 ETF · MSCI EAFE ETF · ESG AW MSCI EAFE · MSCI EMG MKT ETF · RUS 1000 VAL ETF · CORE US AGGBD ET · RUS MID CAP ETF · IBONDS DEC 25 | 29.77% | $52M | 327.8K |
| 2 | BSVVANGUARD BD INDEX FDS | SHORT TRM BOND · INTERMED TERM | 15.84% | $28M | 350.9K |
| 3 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW · CL A | 15.56% | $27M | 50.9K |
| 4 | RSPINVESCO EXCHANGE TRADED FD Thistory → | S&P500 EQL WGT | 14.07% | $24M | 129.1K |
| 5 | VEAVANGUARD TAX-MANAGED FDShistory → | VAN FTSE DEV MKT | 13.52% | $24M | 392.9K |
| 6 | VWOVANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF · ALLWRLD EX US | 3.73% | $6M | 118.5K |
| 7 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 2.41% | $4M | 6.3K |
| 8 | AAPLAPPLE INChistory → | COM | 1.12% | $2M | 7.7K |
| 9 | SPDR SERIES TRUST | BLOOMBERG HIGH Y | 1.10% | $2M | 19.6K |
| 10 | VOOVANGUARD INDEX FDS | S&P 500 ETF SHS · GROWTH ETF · SMALL CP ETF | 0.42% | $733,670 | 1.8K |
| 11 | GBTCGRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 0.33% | $574,528 | 6.4K |
| 12 | ANETARISTA NETWORKS INC | COM SHS | 0.31% | $537,087 | 3.7K |
| 13 | BNYBANK NEW YORK MELLON CORP | COM | 0.25% | $438,019 | 4.0K |
| 14 | GLDSPDR GOLD TR | GOLD SHS | 0.22% | $388,884 | 1.1K |
| 15 | HDHOME DEPOT INC | COM | 0.20% | $351,204 | 867 |
| 16 | AXPAMERICAN EXPRESS CO | COM | 0.18% | $304,923 | 918 |
| 17 | NVDANVIDIA CORPORATION | COM | 0.14% | $246,286 | 1.3K |
| 18 | FNFFIDELITY NATIONAL FINANCIAL | COM SHS | 0.14% | $244,017 | 4.0K |
| 19 | IBMINTERNATIONAL BUSINESS MACHS | COM | 0.14% | $241,811 | 857 |
| 20 | DEDEERE & CO | COM | 0.14% | $237,318 | 519 |
| 21 | UNHUNITEDHEALTH GROUP INC | COM | 0.13% | $234,020 | 678 |
| 22 | SCHFSCHWAB STRATEGIC TR | INTL EQTY ETF | 0.12% | $214,339 | 9.2K |
| 23 | AMZNAMAZON COM INC | COM | 0.12% | $207,933 | 947 |
| 24 | MISTMILESTONE PHARMACEUTICALS IN | COM | 0.02% | $40,000 | 20.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $184M | 43 | May 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $182M | 45 | Jan 27, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $174M | 43 | Oct 21, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $165M | 42 | Aug 8, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $154M | 39 | May 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $149M | 36 | Jan 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $148M | 39 | Oct 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $135M | 36 | Aug 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $137M | 38 | Apr 30, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $119M | 36 | Jan 31, 2024 | 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 ↗.