CIK: 0001483238
Total reported value
$182.2M
Reporting period: 2016-09-30 · Number of holdings: 247
MONTAGE INVESTMENTS, LLC disclosed 247 holdings in its latest 13F filing for the period ending 2016-09-30, with total reported value of $182.2M and a quarterly turnover rate of 58.2%.
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Montage Investments, LLC's disclosed holdings carry a Herfindahl concentration index of 0.014 — mathematically equivalent to about 74 equally-sized positions, well below its 247 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.17), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 34% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add WFC
+303.3% $5.8M
Add MSFT
+275.6% $5.6M
Add IBM
+336.8% $3.8M
Add WMB
+153.6% $3.5M
Add KMI
+136.2% $3.4M
Add TCPA
+159.8% $3.1M
Showing top 175 holdings (of 247 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | WFC | Wells Fargo & Co | Stock-Financials | 4.34% | +2.88% | +303.27% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 4.03% | +2.82% | +275.59% | |
| 3 | KMI | Kinder Morgan INC | Stock-Energy | 2.87% | +1.62% | +136.16% | |
| 4 | TCPA | TransCanada PipeLines Limited 6 | Stock-Other | 2.70% | +1.44% | +159.76% | |
| 5 | IBM | Intl Business Machines CORP | Stock-Tech | 2.70% | +1.95% | +336.76% | |
| 6 | WMB | Williams Cos INC | Stock-Energy | 2.64% | +1.71% | +153.59% | |
| 7 | ENB | Enbridge INC | Stock-Energy | 2.63% | +1.43% | +166.91% | |
| 8 | WBA | Walgreens Boots Alliance INC | Stock-Other | 2.57% | — | -2.47% | |
| 9 | SWX | Southwest Gas Holdings INC | Stock-Utilities | 2.20% | — | +12.45% | |
| 10 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 2.15% | — | -6.18% | |
| 11 | ✓ | Stock-Other | 1.68% | +1.68% | NEW | ||
| 12 | DIS | Walt Disney Co/the | Stock-Comm Services | 1.63% | — | -0.23% | |
| 13 | EPD | Enterprise Products Partners | Stock-Energy | 1.34% | +0.69% | +179.62% | |
| 14 | SBUX | Starbucks CORP | Stock-Consumer Disc | 1.19% | — | +0.34% | |
| 15 | GILD | Gilead Sciences INC | Stock-Healthcare | 1.18% | — | +3.57% | |
| 16 | LNG | Cheniere Energy INC | Stock-Energy | 1.18% | +0.72% | +179.68% | |
| 17 | T | At&t INC | Stock-Comm Services | 1.02% | -0.85% | -25.98% | |
| 18 | NEM | Newmont CORP | Stock-Materials | 0.99% | — | — | |
| 19 | AAPL | Apple Computer | Stock-Tech | 0.97% | +0.97% | NEW | |
| 20 | QCOM | Qualcomm INC | Stock-Tech | 0.95% | — | -1.46% | |
| 21 | LKQ | Lkq CORP | Stock-Consumer Disc | 0.92% | — | -2.61% | |
| 22 | PEP | Pepsico INC | Stock-Consumer Staples | 0.91% | — | — | |
| 23 | JKHY | Jack Henry & Associates INC | Stock-Tech | 0.90% | — | -2.48% | |
| 24 | PBA | Pembina Pipeline CORP | Stock-Energy | 0.88% | +0.88% | NEW | |
| 25 | ✓ | Atmos Energy CORP Com | Stock-Other | 0.88% | +0.88% | NEW | |
| 26 | XOM | Exxon Mobil CORP | Stock-Energy | 0.87% | -0.68% | -23.02% | |
| 27 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.82% | — | -14.64% | |
| 28 | HXL | Hexcel CORP | Stock-Industrials | 0.81% | — | +4.79% | |
| 29 | OKE | Oneok INC | Stock-Energy | 0.81% | +0.81% | NEW | |
| 30 | SBAC | SBA Communications Corporation | Stock-Real Estate | 0.79% | — | -2.42% | |
| 31 | CPRT | Copart INC | Stock-Industrials | 0.77% | — | -2.57% | |
| 32 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.77% | — | -3.85% | |
| 33 | MTD | Mettler-toledo International | Stock-Healthcare | 0.76% | — | -2.78% | |
| 34 | OMCL | Omnicell INC | Stock-Healthcare | 0.76% | — | -2.59% | |
| 35 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.74% | — | -1.70% | |
| 36 | TYPEUSD | Monotype Imaging Holdings In | Stock-Other | 0.72% | — | +35.86% | |
| 37 | COO | The Cooper Companies, Inc. | Stock-Healthcare | 0.71% | — | -2.65% | |
| 38 | INTC | Intel CORP | Stock-Tech | 0.71% | — | -14.48% | |
| 39 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.69% | — | -2.81% | |
| 40 | MCK | Mckesson CORP | Stock-Healthcare | 0.68% | — | — | |
| 41 | QLYS | Qualys INC | Stock-Tech | 0.67% | — | +4.87% | |
| 42 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.67% | — | — | |
| 43 | PAA | Plains All Amer Pipeline LP | Stock-Energy | 0.67% | +0.31% | +105.12% | |
| 44 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.67% | — | -21.16% | |
| 45 | PDM | Piedmont Realty Trust, Inc. | Stock-Other | 0.65% | +0.27% | +120.33% | |
| 46 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 0.65% | — | -2.30% | |
| 47 | ET | Energy Transfer LP | Stock-Energy | 0.65% | +0.37% | +203.24% | |
| 48 | HALO | Halozyme Therapeutics INC | Stock-Healthcare | 0.65% | — | -2.51% | |
| 49 | AMG | Affiliated Managers Group, Inc. | Stock-Financials | 0.64% | +0.64% | NEW | |
| 50 | NJR | New Jersey Resources CORP | Stock-Utilities | 0.64% | — | +48.11% |
Not enough priced holdings yet to compute performance
Montage Investments, LLC's most significant position changes for 2016-09-30: New buy: ; New buy: Apple Computer (AAPL); New buy: Pembina Pipeline CORP (PBA); Sold out: Apple INC (AAPL); New buy: Atmos Energy CORP Com.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | WFC | Wells Fargo & Co | +2.9% | +303.27% | Add |
| 2 | MSFT | Microsoft CORP | +2.8% | +275.59% | Add |
| 3 | IBM | Intl Business Machines CORP | +2% | +336.76% | Add |
| 4 | WMB | Williams Cos INC | +1.7% | +153.59% | Add |
| 5 | KMI | Kinder Morgan INC | +1.6% | +136.16% | Add |
| 6 | TCPA | TransCanada PipeLines Limited 6 | +1.4% | +159.76% | Add |
| 7 | ENB | Enbridge INC | +1.4% | +166.91% | Add |
| 8 | LNG | Cheniere Energy INC | +0.7% | +179.68% | Add |
| 9 | EPD | Enterprise Products Partners | +0.7% | +179.62% | Add |
| 10 | ET | Energy Transfer LP | +0.4% | +203.24% | Add |
| 11 | WEP | Magellan Midstream Partners | +0.4% | +195.64% | Add |
| 12 | PAA | Plains All Amer Pipeline LP | +0.3% | +105.12% | Add |
| 13 | ET | Energy Transfer LP | +0.3% | +127.77% | Add |
| 14 | PDM | Piedmont Realty Trust, Inc. | +0.3% | +120.33% | Add |
| 15 | AGG | Ishares Core U.s. Aggregate | -0.4% | -49.20% | Trim |
| 16 | IVV | Ishares Core S&p 500 ETF | -0.5% | -42.19% | Trim |
| 17 | XOM | Exxon Mobil CORP | -0.7% | -23.02% | Trim |
| 18 | T | At&t INC | -0.9% | -25.98% | Trim |
| 19 | ✓ | — | NEW | New buy | |
| 20 | AAPL | Apple Computer | — | NEW | New buy |
| 21 | PBA | Pembina Pipeline CORP | — | NEW | New buy |
| 22 | AAPL | Apple INC | — | EXIT | Sold out |
| 23 | ✓ | Atmos Energy CORP Com | — | NEW | New buy |
| 24 | MODV | ModivCare Inc. | — | EXIT | Sold out |
| 25 | OKE | Oneok INC | — | NEW | New buy |
| 26 | ✓ | — | EXIT | Sold out | |
| 27 | PWR | Quanta Services INC | — | EXIT | Sold out |
| 28 | AMG | Affiliated Managers Group, Inc. | — | NEW | New buy |
| 29 | AMG | Affiliated Managers Group | — | EXIT | Sold out |
| 30 | TRGP | Targa Resources CORP | — | NEW | New buy |
| 31 | ORCL | Oracle CORP | — | EXIT | Sold out |
| 32 | NI | Nisource INC | — | NEW | New buy |
| 33 | ✓ | Advisory Brd Co | — | NEW | New buy |
| 34 | SRCLEUR | Stericycle INC | — | EXIT | Sold out |
| 35 | ✓ | Expro Group Holdings NV Com | — | EXIT | Sold out |
| 36 | SNCREUR | Synchronoss Technologies INC | — | NEW | New buy |
| 37 | BRK-B | Berkshire Hathaway Inc-cl B | — | EXIT | Sold out |
| 38 | IPGP | Ipg Photonics CORP | — | NEW | New buy |
| 39 | BRK-B | Berkshire Hathaway Inc. | — | NEW | New buy |
| 40 | ✓ | Linkedin CORP | — | EXIT | Sold out |
| 41 | BOKF | Bok Financial Corporation | — | EXIT | Sold out |
| 42 | DEO | Diageo Plc-sponsored Adr | — | EXIT | Sold out |
| 43 | ✓ | Cencora, Inc. | — | NEW | New buy |
| 44 | COR | Cencora INC | — | EXIT | Sold out |
| 45 | SLB | Slb LTD | — | EXIT | Sold out |
| 46 | ATO | Atmos Energy CORP | — | EXIT | Sold out |
| 47 | PANW | Palo Alto Networks INC | — | EXIT | Sold out |
| 48 | ✓ | Williams Partners LP | — | NEW | New buy |
| 49 | PXGBX | Praxair INC | — | EXIT | Sold out |
| 50 | DUK | Duke Energy CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2016-09-30 | 2016-11-10 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
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