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Montage Investments, LLC Historical SEC 13F Holdings & Archive (Q3 2016)
Montage Investments, LLCCIK: 0001483238
Diversified strategyMomentum followerQuality / disciplined sizing
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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Personality snowflake
- Concentration
- 5.4
- Portfolio Stability
- 58.17
- Momentum
- 100
- Sector conviction
- 49.96
- Diversification
- 100
- Sizing Uniformity
- 88.29
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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd 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
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
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% |
1–50 of 175
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
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 | ✓ | — | 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 |
Filing History
FAQ
What is Montage Investments, LLC and what type of investor is it?
Montage Investments, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2016-09-30), the firm manages a tracked equity portfolio valued at approximately $182.2M, spread across 247 disclosed positions.
What are Montage Investments, LLC's largest equity positions?
Based on the latest 13F filing, Montage Investments, LLC's top holdings by market value are:
1. Wells Fargo & Co (WFC) — $7.9M (4.3%)
2. Microsoft CORP (MSFT) — $7.3M (4.0%)
3. Kinder Morgan, Inc. (KMI) — $5.2M (2.9%)
4. TransCanada PipeLines Limited 6 (TCPA) — $4.9M (2.7%)
5. Intl Business Machines CORP (IBM) — $4.9M (2.7%)
What changes did Montage Investments, LLC make in its most recent portfolio filing?
In the latest reported quarter, Montage Investments, LLC made 50 notable position adjustments: 14 new positions were initiated, 14 existing holdings were added to, 4 positions were partially reduced, and 18 were completely exited. The largest of these moves: New buy: ; New buy: Apple Computer (AAPL); New buy: Pembina Pipeline CORP (PBA); Sold out: Apple Inc (AAPL); New buy: Atmos Energy CORP Com
What sectors does Montage Investments, LLC focus on?
Montage Investments, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 28.2%
• Financials: 18.4%
• Health Care: 13.5%
• Communication Services: 11.8%
• Consumer Staples: 9.0%
• Consumer Discretionary: 8.6%
Investment Profile
Montage Investments, LLC's portfolio is broadly diversified and fast-trading.
Its turnover score has risen from 0 to 58 over the past 3 quarters — a shift toward more active trading.
It has added to its MSFT position over the past two quarters (+$5.9M, now $7.3M), while trimming T over the same stretch (-$957.0K, still holding $1.9M).
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