Boreal Capital Management LLC — Q4 2025 13F Holdings

Name: Boreal Capital Management LLC — 13F Holdings, Q4 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0002080094

Total reported value

$122.9M

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Full holdings list this quarter

Showing top 200 holdings (of 515 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	NVDA	Nvidia CORP	Stock-Tech	4.41%	+1.70%	+2.61%
2	AMZN	Amazon.com INC	Stock-Consumer Disc	3.69%	+0.65%	+26.56%
3	AAPL	Apple INC	Stock-Tech	3.44%	+0.53%	-5.22%
4	MSFT	Microsoft CORP	Stock-Tech	2.87%	—	+15.33%
5	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	2.87%	-0.69%	-8.74%
6	IEF	Ishares 7-10 Year Treasury B	ETF-Gov Bonds	2.82%	—	+38.77%
7	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	2.74%	-0.18%	-12.87%
8	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	2.59%	-0.01%	+8.44%
9	QUAL	Ishares Msci USA Quality Fac	ETF-Other	2.23%	—	-32.02%
10	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	2.03%	-0.12%	NEW
11	AVGO	Broadcom INC	Stock-Tech	1.88%	+0.35%	+16.27%
12	V	Visa Inc-class A Shares	Stock-Financials	1.77%	-0.18%	+23.57%
13	ASML	ASML Holding N.V.	Stock-Tech	1.68%	+0.45%	—
14	META	Meta Platforms Inc-class A	Stock-Comm Services	1.67%	—	+48.49%
15	JEPQ	JPM Nasdaq Equity Premium	ETF-Tech	1.59%	-0.50%	+231.08%
16	JEPI	Jpmorgan Equity Premium Inco	ETF-Other	1.55%	-0.43%	+67.36%
17	GLD	Spdr Gold Shares	ETF-Commodities	1.32%	-1.16%	NEW
18	XLK	Ss Technology Select Sector	ETF-Tech	1.26%	—	+103.14%
19	MA	Mastercard INC - A	Stock-Financials	1.18%	-0.29%	-0.18%
20	LQD	Ishr Ibx Usd Invgd Cb Etf-ui	ETF-Corp Bonds	1.15%	-0.12%	+33.95%
21	IBIT	Ishares Bitcoin Trust ETF	ETF-Crypto	1.13%	—	+7.39%
22	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	1.11%	+0.43%	—
23	USHY	Ishares Broad Usd High Yield	ETF-High Yield	1.09%	—	—
24	XAWFX	Alliancebernstein Gl Hi INC	Stock-Other	1.02%	-0.48%	NEW
25	SPGI	S&p Global INC	Stock-Financials	1.01%	—	+64.68%
26	PTY	Pimco Corporate & Income Opp	Stock-Other	1.01%	-0.46%	NEW
27	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.96%	+0.36%	+11.42%
28	FICO	Fair Isaac CORP	Stock-Tech	0.93%	-0.23%	+25.82%
29	UNH	Unitedhealth Group INC	Stock-Healthcare	0.90%	-0.20%	+54.01%
30	PGR	Progressive CORP	Stock-Financials	0.89%	+0.25%	+15.74%
31	MSCI	Msci INC	Stock-Financials	0.81%	—	+26.41%
32	DHR	Danaher CORP	Stock-Healthcare	0.80%	-0.29%	+7.12%
33	WCN	Waste Connections INC	Stock-Industrials	0.80%	—	+21.57%
34	PDO	Pimco Dynamic Income Opport	Stock-Other	0.76%	-0.23%	NEW
35	DPZ	Domino's Pizza INC	Stock-Consumer Disc	0.74%	—	+25.43%
36	VCSH	Vanguard S/t CORP Bond ETF	ETF-Corp Bonds	0.69%	—	-15.75%
37	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	0.69%	-0.60%	—
38	XCHYX	Calamos Convert & High INC	Stock-Other	0.68%	-0.14%	NEW
39	CHI	Calamos Convert Opport & INC	Stock-Other	0.66%	-0.10%	NEW
40	KNSL	Kinsale Capital Group INC	Stock-Financials	0.66%	—	—
41	PLTR	Palantir Technologies Inc-a	Stock-Tech	0.64%	-0.45%	—
42	BAC	Bank Of America CORP	Stock-Financials	0.64%	—	—
43	JPM	Jpmorgan Chase & Co	Stock-Financials	0.63%	—	+2.28%
44	MUSA	Murphy USA INC	Stock-Consumer Disc	0.63%	—	—
45	PANW	Palo Alto Networks INC	Stock-Tech	0.62%	—	+32.75%
46	EWL	Ishares Msci Switzerland ETF	ETF-Other	0.61%	—	—
47	NDAQ	Nasdaq INC	Stock-Financials	0.60%	—	+39.62%
48	PGX	Invesco Preferred ETF	ETF-Other	0.59%	-0.11%	NEW
49	CCD	Calamos Dyn Convert & INC	Stock-Other	0.58%	—	—
50	PDI	Pimco Dynamic Income Fund	Stock-Financials	0.58%	—	—

1–50 of 200

Holding changes this quarter

Position changes disclosed by Boreal Capital Management LLC for the quarter ending Q4 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	JEPQ	JPM Nasdaq Equity Premium	+1.1%	+231.08%	Add
2	AMZN	Amazon.com INC	+0.7%	+26.56%	Add
3	IEF	Ishares 7-10 Year Treasury B	+0.7%	+38.77%	Add
4	JEPI	Jpmorgan Equity Premium Inco	+0.6%	+67.36%	Add
5	PDI	Pimco Dynamic Income Fund	+0.5%	—	Unchanged
6	PDO	Pimco Dynamic Income Opport	+0.5%	—	Unchanged
7	XAWFX	Alliancebernstein Gl Hi INC	+0.4%	—	Unchanged
8	SPGI	S&p Global INC	+0.4%	+64.68%	Add
9	META	Meta Platforms Inc-class A	+0.3%	+48.49%	Add
10	PTY	Pimco Corporate & Income Opp	+0.3%	—	Unchanged
11	V	Visa Inc-class A Shares	+0.3%	+23.57%	Add
12	GEV	GE Vernova INC	+0.3%	+838.81%	Add
13	UNH	Unitedhealth Group INC	+0.2%	+54.01%	Add
14	AVGO	Broadcom INC	+0.2%	+16.27%	Add
15	FICO	Fair Isaac CORP	+0.2%	+25.82%	Add
16	LQD	Ishr Ibx Usd Invgd Cb Etf-ui	+0.2%	+33.95%	Add
17	SHV	Ishares 0-1 Year Treasury Bo	+0.2%	+2266.00%	Add
18	NDAQ	Nasdaq INC	+0.2%	+39.62%	Add
19	SLV	Ishares Silver Trust	+0.2%	+37.94%	Add
20	MSCI	Msci INC	+0.1%	+26.41%	Add
21	GOOGL	Alphabet Inc-cl A	+0.1%	-12.87%	Trim
22	UBER	Uber Technologies INC	+0.1%	+100.87%	Add
23	USHY	Ishares Broad Usd High Yield	+0.1%	—	Unchanged
24	ASML	ASML Holding N.V.	+0.1%	NEW	New buy
25	DHR	Danaher CORP	+0.1%	+7.12%	Add
26	WCN	Waste Connections INC	+0.1%	+21.57%	Add
27	VOO	Vanguard S&p 500 ETF	+0.1%	+8.44%	Add
28	MSFT	Microsoft CORP	0%	+15.33%	Add
29	GOOG	Alphabet Inc-cl C	-0.2%	-71.02%	Trim
30	T	At&t INC	-0.2%	-84.83%	Trim
31	MBB	Ishares Mbs ETF	-0.3%	-93.76%	Trim
32	USA	Liberty All Star Equity Fund	-0.3%	—	Unchanged
33	PGX	Invesco Preferred ETF	-0.3%	—	Unchanged
34	IBIT	Ishares Bitcoin Trust ETF	-0.3%	+7.39%	Add
35	IBM	Intl Business Machines CORP	-0.4%	-97.46%	Trim
36	QQQ	Invesco Qqq Trust Series 1	-0.4%	-8.74%	Trim
37	PFF	Ishares Preferred & Income S	-1%	-71.44%	Trim
38	SPY	Ss Spdr S&p 500 ETF Trust-us	-1.1%	—	Unchanged
39	QUAL	Ishares Msci USA Quality Fac	-1.2%	-32.02%	Trim
40	XCHYX	Calamos Convert & High INC	—	—	Unchanged
41	CHI	Calamos Convert Opport & INC	—	—	Unchanged
42	NOBL	Proshares S&p 500 Dividend A	—	EXIT	Sold out
43	CCD	Calamos Dyn Convert & INC	—	—	Unchanged
44	IBTH	Ishares Ibonds Dec 2027 Term	—	—	Unchanged
45	SHYG	Ishares 0-5 Yr Hy CORP Bond	—	EXIT	Sold out
46	VCIT	Vanguard Int-term Corporate	—	EXIT	Sold out
47	IBHE	Ishares Ibonds 2025 H/y INC	—	—	Unchanged
48	GSY	Invesco Ultra Short Duration	—	—	Unchanged
49	FHN	First Horizon CORP	—	NEW	New buy
50	BPRE	Bluerock Private Real Estate	—	NEW	New buy