SEC 13F Intelligence

Managers / Q2 2025

HICKORY ASSET MANAGEMENT, INC.

CIK 0002053626 · 9930 JOHNNYCAKE RIDGE RD, #2B, CONCORD, OH, 44060 · 440-358-1330

Reported Value
$121M
Q2 2025
Positions
91
Filings on Record
3
2019–present window
Filed
Jul 22, 2025
original filing

Summary

Hickory Asset Management, Inc. reported $121M in U.S.-listed holdings across 91 positions for Q2 2025.

Its largest position, First Tr Exchng Traded Fd Vi, represents 17.3% of the portfolio.

Compared with Q1 2025, the fund opened 5 new positions and exited 3.

Portfolio Metrics

Turnover
+3.4%
vs prior filed quarter
Top-10 Concentration
+66.9%
share of reported value
Largest Position
+17.3%
First Tr Exchng Traded Fd Vi
New / Exited
5 / 3
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
Q4 ’24: $118MQ4 ’24Q1 ’25: $113MQ1 ’25Q2 ’25: $121MQ2 ’25filingsflow.com

Portfolio Composition

By security type
ETP: 73.7%Common Stock: 24.6%ADR: 1.4%Other: 0.4%
  • ETP · 73.7% · $89M
  • Common Stock · 24.6% · $30M
  • ADR · 1.4% · $2M
  • Other · 0.4% · $451,582

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FIRST TR EXCHNG TRADED FD VINEW+10.0K10.0K+$377,062$377,062
RWLINVESCO EXCH TRADED FD TR IINEW+2.3K2.3K+$244,977$244,977
BABOEING CONEW+1.0K1.0K+$214,768$214,768
FIRST TR EXCHNG TRADED FD VINEW+5.1K5.1K+$212,983$212,983
VHTVANGUARD WORLD FDNEW+819819+$203,353$203,353
QQQEDIREXION SHS ETF TRSOLD OUT−3.2K0−$281,932$0
BDXBECTON DICKINSON & COSOLD OUT−1.0K0−$237,448$0
XLVSELECT SECTOR SPDR TRSOLD OUT−1.4K0−$206,273$0

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

Holdings — Q2 2025

67 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FIRST TR EXCHNG TRADED FD VIFT VEST US EQT · FT VEST U.S. · FT VEST NAS · FT VEST UQ EQT17.35%$21M503.8K
2VOOVANGUARD INDEX FDSS&P 500 ETF SHS · VALUE ETF · GROWTH ETF · MCAP VL IDXVIP15.15%$18M55.3K
3RDVYFIRST TR EXCHANGE TRADED FDRISNG DIVD ACHIV · SMID RISNG ETF · FIRST TR ENH NEW · FT VEST RIS7.32%$9M166.4K
4QQQINVESCO QQQ TRhistory →UNIT SER 15.80%$7M12.7K
5QQQMINVESCO EXCH TRADED FD TR IINASDAQ 100 ETF · S&P 500 REVENUE5.33%$6M29.6K
6VYMVANGUARD WHITEHALL FDShistory →HIGH DIV YLD3.89%$5M35.3K
7SPYGSPDR SERIES TRUSTPRTFLO S&P500 GW · PRTFLO S&P500 VL3.26%$4M48.1K
8SPGPINVESCO EXCHANGE TRADED FD TS&P 500 GARP ETF · S&P500 EQL WGT · AEROSPACE DEFN3.05%$4M29.0K
9FPEIFIRST TR EXCH TRADED FD IIIPFD SECS INC ETF · INSTL PFD SECS2.90%$4M193.6K
10VIGVANGUARD SPECIALIZED FUNDShistory →DIV APP ETF2.84%$3M16.8K
11GOOGLALPHABET INCCAP STK CL A · CAP STK CL C2.08%$3M14.2K
12PYLDPIMCO ETF TRhistory →MULTISECTOR BD2.02%$2M91.9K
13METAMETA PLATFORMS INChistory →CL A1.94%$2M3.2K
14MSFTMICROSOFT CORPhistory →COM1.83%$2M4.5K
15COWZPACER FDS TRUS CASH COWS 100 · US SMALL CAP CAS1.59%$2M39.9K
16BKNGBOOKING HOLDINGS INChistory →COM1.52%$2M318
17AMZNAMAZON COM INChistory →COM1.40%$2M7.7K
18SCHWSCHWAB CHARLES CORPhistory →COM1.28%$2M16.9K
19VVISA INChistory →COM CL A1.15%$1M3.9K
20MOATVANECK ETF TRUSThistory →MRNGSTR WDE MOAT1.06%$1M13.7K
21MAMASTERCARD INCORPORATEDCL A0.90%$1M1.9K
22ELVELEVANCE HEALTH INCCOM0.84%$1M2.6K
23TSMTAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADS0.76%$919,2414.1K
24PMPHILIP MORRIS INTL INCCOM0.64%$771,1664.2K
25DISDISNEY WALT COCOM0.63%$763,6306.2K
26IQVIQVIA HLDGS INCCOM0.57%$685,6744.4K
27VCSHVANGUARD SCOTTSDALE FDSSHRT TRM CORP BD0.56%$671,8088.4K
28AMATAPPLIED MATLS INCCOM0.55%$664,6683.6K
29VRIGINVESCO ACTIVELY MANAGED EXCVAR RATE INVT0.53%$641,90625.6K
30PFFDGLOBAL X FDSUS PFD ETF0.53%$639,42434.0K
31JPMJPMORGAN CHASE & CO.COM0.52%$630,2152.2K
32ADSKAUTODESK INCCOM0.48%$577,9671.9K
33AAPLAPPLE INCCOM0.48%$577,5402.8K
34APDAIR PRODS & CHEMS INCCOM0.47%$573,0002.0K
35CORCENCORA INCCOM0.46%$551,2721.8K
36ORCLORACLE CORPCOM0.44%$537,7922.5K
37VEEVVEEVA SYS INCCL A COM0.41%$499,6451.7K
38UNILEVER PLCSPON ADR NEW0.37%$451,5827.4K
39QCOMQUALCOMM INCCOM0.37%$445,7102.8K
40NVSNOVARTIS AGSPONSORED ADR0.35%$419,3543.5K
41ADIANALOG DEVICES INCCOM0.34%$407,5351.7K
42BNYBANK NEW YORK MELLON CORPCOM0.32%$392,0714.3K
43CRMSALESFORCE INCCOM0.32%$391,3151.4K
44NSCNORFOLK SOUTHN CORPCOM0.31%$373,9491.5K
45KMXCARMAX INCCOM0.30%$365,4885.4K
46BACBANK AMERICA CORPCOM0.30%$358,5887.6K
47CHKPCHECK POINT SOFTWARE TECH LTORD0.29%$350,2391.6K
48COPCONOCOPHILLIPSCOM0.29%$346,6783.9K
49EBAYEBAY INC.COM0.28%$335,0464.5K
50UNHUNITEDHEALTH GROUP INCCOM0.27%$329,4111.1K
51DEODIAGEO PLCSPON ADR NEW0.26%$312,1903.1K
52MCKMCKESSON CORPCOM0.25%$305,783417
53ADBEADOBE INCCOM0.24%$290,160750
54ECLECOLAB INCCOM0.24%$285,7851.1K
55GDGENERAL DYNAMICS CORPCOM0.23%$276,611948
56EXMOCEXXON MOBIL CORPCOM0.23%$274,3762.5K
57TSLATESLA INCCOM0.21%$250,951790
58RTXRTX CORPORATIONCOM0.21%$250,4591.7K
59LOWLOWES COS INCCOM0.20%$246,8751.1K
60MDTMEDTRONIC PLCSHS0.20%$236,4052.7K
61MCDMCDONALDS CORPCOM0.19%$235,789807
62JPSTJ P MORGAN EXCHANGE TRADED FULTRA SHRT ETF0.19%$232,3684.6K
63CMCSACOMCAST CORP NEWCL A0.19%$227,8466.4K
64BABOEING COCOM0.18%$214,7681.0K
65DESWISDOMTREE TRUS SMALLCAP DIVD0.18%$214,3876.8K
66VHTVANGUARD WORLD FDHEALTH CAR ETF0.17%$203,353819
67DNNDENISON MINES CORPCOM0.02%$18,20010.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2025$121M91Jul 22, 202513F-HRchanges · EDGAR ↗
Q1 2025$113M89Apr 16, 202513F-HRchanges · EDGAR ↗
Q4 2024$118M90Jan 30, 202513F-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 ↗.