Managers / Q4 2025
SAGE ADVISORS, LLC
CIK 0002032121 · 421 PINE STREET, BOULDER, CO, 80302 · (317) 363-6204
Summary
Sage Advisors, LLC reported $151M in U.S.-listed holdings across 48 positions for Q4 2025.
Its largest position, OBDC, represents 17.0% of the portfolio.
Compared with Q3 2025, the fund opened 15 new positions and exited 6.
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 · 76.8% · $116M
- REIT · 15.1% · $23M
- ETP · 7.6% · $11M
- MLP · 0.4% · $563,702
- Other · 0.2% · $248,007
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ENBENBRIDGE INC | NEW | +77.9K | 77.9K | +$4M | $4M |
| PWRQUANTA SVCS INC | NEW | +3.0K | 3.0K | +$1M | $1M |
| ISHARES TR | NEW | +7.8K | 7.8K | +$778,045 | $778,045 |
| ISHARES TR | NEW | +8.0K | 8.0K | +$770,018 | $770,018 |
| ISHARES TR | NEW | +7.1K | 7.1K | +$615,418 | $615,418 |
| ISHARES TR | NEW | +11.0K | 11.0K | +$579,212 | $579,212 |
| ISHARES TR | NEW | +10.7K | 10.7K | +$577,397 | $577,397 |
| ISHARES TR | NEW | +11.3K | 11.3K | +$568,444 | $568,444 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | OBDCBLUE OWL CAPITAL CORPORATIONhistory → | COM | 16.99% | $26M | 2.06M |
| 2 | LLYELI LILLY & COhistory → | COM | 13.82% | $21M | 19.4K |
| 3 | ARCCARES CAPITAL CORPhistory → | COM | 12.82% | $19M | 955.5K |
| 4 | BNLBROADSTONE NET LEASE INChistory → | COM | 9.93% | $15M | 862.3K |
| 5 | NLYANNALY CAPITAL MANAGEMENT INhistory → | COM NEW | 4.75% | $7M | 320.5K |
| 6 | AAPLAPPLE INChistory → | COM | 4.74% | $7M | 26.3K |
| 7 | AMZNAMAZON COM INChistory → | COM | 4.43% | $7M | 28.9K |
| 8 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 3.25% | $5M | 9.8K |
| 9 | MOALTRIA GROUP INChistory → | COM | 2.82% | $4M | 73.7K |
| 10 | ISHARES TR | 0-3 MNTH TREASRY · 7-10 YR TRSY BD · 20 YR TR BD ETF · ISHS 1-5YR INVS · ISHS 5-10YR INVT · 10+ YR INVST GRD | 2.58% | $4M | 55.8K |
| 11 | NVDANVIDIA CORPORATIONhistory → | COM | 2.53% | $4M | 20.5K |
| 12 | ENBENBRIDGE INChistory → | COM | 2.47% | $4M | 77.9K |
| 13 | SPDR S&P 500 ETF TR | TR UNIT | 1.73% | $3M | 3.8K |
| 14 | NDQINVESCO QQQ TRhistory → | UNIT SER 1 | 1.62% | $2M | 4.0K |
| 15 | HTGCHERCULES CAPITAL INChistory → | COM | 1.50% | $2M | 120.0K |
| 16 | SPDR DOW JONES INDL AVERAGE | UT SER 1 | 1.48% | $2M | 4.6K |
| 17 | METAMETA PLATFORMS INChistory → | CL A | 1.31% | $2M | 3.0K |
| 18 | MSFTMICROSOFT CORPhistory → | COM | 1.22% | $2M | 3.8K |
| 19 | FSKFS KKR CAP CORPhistory → | COM | 1.18% | $2M | 120.0K |
| 20 | IBMINTERNATIONAL BUSINESS MACHShistory → | COM | 1.04% | $2M | 5.3K |
| 21 | PWRQUANTA SVCS INC | COM | 0.83% | $1M | 3.0K |
| 22 | JPMJPMORGAN CHASE & CO. | COM | 0.68% | $1M | 3.2K |
| 23 | GOOGLALPHABET INC | CAP STK CL A | 0.59% | $888,863 | 2.8K |
| 24 | ASTSAST SPACEMOBILE INC | COM CL A | 0.46% | $697,466 | 9.6K |
| 25 | HPEHEWLETT PACKARD ENTERPRISE C | COM | 0.45% | $681,089 | 28.4K |
| 26 | TSLATESLA INC | COM | 0.41% | $622,412 | 1.4K |
| 27 | AVGOBROADCOM INC | COM | 0.41% | $619,196 | 1.8K |
| 28 | OMEGA HEALTHCARE INVS INC | COM | 0.39% | $587,830 | 13.3K |
| 29 | 7HPHP INC | COM | 0.38% | $567,022 | 25.4K |
| 30 | EPDENTERPRISE PRODS PARTNERS L | COM | 0.37% | $563,702 | 17.6K |
| 31 | ARESARES MANAGEMENT CORPORATION | CL A COM STK | 0.36% | $543,125 | 3.4K |
| 32 | RKTROCKET COS INC | COM CL A | 0.35% | $527,366 | 27.2K |
| 33 | BLKBLACKROCK INC | COM | 0.32% | $476,858 | 446 |
| 34 | OWLBLUE OWL CAPITAL INC | COM CL A | 0.27% | $412,960 | 27.6K |
| 35 | GLXYGALAXY DIGITAL INC. | CL A | 0.26% | $399,417 | 17.9K |
| 36 | CATCATERPILLAR INC | COM | 0.22% | $334,407 | 584 |
| 37 | COSTCOSTCO WHSL CORP NEW | COM | 0.21% | $318,054 | 369 |
| 38 | NEENEXTERA ENERGY INC | COM | 0.21% | $317,748 | 4.0K |
| 39 | INFLECTION POINT ACQUISITION | SHS CL A | 0.16% | $248,007 | 23.1K |
| 40 | GQ9SPDR GOLD TR | GOLD SHS | 0.15% | $219,159 | 553 |
| 41 | MCKMCKESSON CORP | COM | 0.14% | $218,281 | 266 |
| 42 | VELOVELO3D INC | COM NEW | 0.10% | $154,589 | 11.3K |
| 43 | RDWREDWIRE CORPORATION | COM | 0.05% | $78,759 | 10.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2025 | $151M | 48 | Jan 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $140M | 39 | Oct 22, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $140M | 36 | Jul 28, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $142M | 32 | Apr 25, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $134M | 28 | Jan 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $127M | 25 | Nov 6, 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 ↗.