CIK: 0002011247
Total reported value
$120.5M
Reporting period: 2025-12-31 · Number of holdings: 121
NDVR, Inc. disclosed 121 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $120.5M and a quarterly turnover rate of 20.1%.
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NDVR, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.082 — mathematically equivalent to about 12 equally-sized positions, well below its 121 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.99), with a handful of outsized bets alongside many smaller positions.
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 26% 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.
Trim HUBS
-5.0% -$2.3M
Add VEA
-1.3% $819.8K
Trim MSFT
-3.6% -$492.3K
Add GOOGL
+14.6% $473.1K
Add GOOG
+19.0% $436.9K
Add SGOV
+7.6% $430.5K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 23.75% | +0.57% | -1.25% | |
| 2 | HUBS | Hubspot INC | Stock-Tech | 8.24% | -1.92% | -5.00% | |
| 3 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 7.97% | — | -1.38% | |
| 4 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 5.31% | +0.33% | +7.56% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 4.86% | +0.19% | -0.50% | |
| 6 | GLDM | Spdr Gold Minishares Trust | ETF-Commodities | 4.02% | — | -9.56% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 3.67% | -0.43% | -3.62% | |
| 8 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 3.14% | — | -3.84% | |
| 9 | NVDA | Nvidia CORP | Stock-Tech | 2.66% | — | -1.14% | |
| 10 | AAPL | Apple INC | Stock-Tech | 2.51% | — | +0.28% | |
| 11 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.53% | — | — | |
| 12 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.48% | — | +0.10% | |
| 13 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.22% | +0.39% | +14.62% | |
| 14 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.04% | +0.36% | +18.99% | |
| 15 | AVGO | Broadcom INC | Stock-Tech | 0.93% | +0.22% | +26.20% | |
| 16 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.80% | — | +1.74% | |
| 17 | WMT | Walmart INC | Stock-Consumer Staples | 0.75% | — | -7.38% | |
| 18 | EPAM | Epam Systems INC | Stock-Tech | 0.68% | — | -0.03% | |
| 19 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.65% | — | -2.17% | |
| 20 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.61% | — | -1.30% | |
| 21 | TSLA | Tesla INC | Stock-Consumer Disc | 0.57% | — | +37.69% | |
| 22 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.49% | — | +0.57% | |
| 23 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.45% | +0.20% | +26.50% | |
| 24 | ABBV | Abbvie INC | Stock-Healthcare | 0.43% | — | -4.68% | |
| 25 | XOM | Exxon Mobil CORP | Stock-Energy | 0.43% | — | -1.28% | |
| 26 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.40% | — | +2.37% | |
| 27 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.34% | — | +4.65% | |
| 28 | V | Visa Inc-class A Shares | Stock-Financials | 0.33% | — | -8.94% | |
| 29 | MCK | Mckesson CORP | Stock-Healthcare | 0.32% | — | -17.46% | |
| 30 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.31% | — | -4.30% | |
| 31 | CAH | Cardinal Health INC | Stock-Healthcare | 0.30% | — | -22.09% | |
| 32 | PGR | Progressive CORP | Stock-Financials | 0.30% | — | -6.11% | |
| 33 | HIG | Hartford Insurance Group INC | Stock-Financials | 0.30% | — | -8.23% | |
| 34 | IAU | Ishares Gold Trust | ETF-Commodities | 0.30% | — | — | |
| 35 | TRV | Travelers Cos Inc/the | Stock-Financials | 0.30% | — | -3.82% | |
| 36 | FOXA | Fox CORP - Class A | Stock-Comm Services | 0.29% | — | -9.05% | |
| 37 | LDOS | Leidos Holdings INC | Stock-Tech | 0.29% | — | -2.00% | |
| 38 | NEM | Newmont CORP | Stock-Materials | 0.28% | +0.28% | NEW | |
| 39 | COR | Cencora INC | Stock-Healthcare | 0.28% | — | -14.07% | |
| 40 | FOX | Fox CORP - Class B | Stock-Comm Services | 0.28% | — | -0.90% | |
| 41 | LAUR | Laureate Education INC | Stock-Other | 0.28% | — | +31.34% | |
| 42 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.27% | +0.27% | NEW | |
| 43 | T | At&t INC | Stock-Comm Services | 0.27% | — | +28.40% | |
| 44 | AXP | American Express Co | Stock-Financials | 0.27% | — | -13.17% | |
| 45 | MTG | Mgic Investment CORP | Stock-Financials | 0.27% | — | -8.15% | |
| 46 | L | Loews CORP | Stock-Financials | 0.27% | — | -7.08% | |
| 47 | MLI | Mueller Industries INC | Stock-Industrials | 0.27% | — | -37.07% | |
| 48 | EXEL | Exelixis INC | Stock-Healthcare | 0.27% | — | +20.19% | |
| 49 | ORI | Old Republic Intl CORP | Stock-Financials | 0.26% | — | -9.58% | |
| 50 | MCY | Mercury General CORP | Stock-Other | 0.26% | — | -1.01% |
Performance for Q3 2026
+1.5%
Performance Last 4 Quarters
+21.7%
Based on 68% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2025-12-31 | 121 | $120.5M | 20 | |
| 2025-09-30 | 115 | $120.0M | 35 | |
| 2025-06-30 | 103 | $106.7M | 0 | |
| 2025-03-31 | 102 | $98.0M | 0 | |
| 2024-12-31 | 102 | $104.5M | 0 | |
| 2024-09-30 | 103 | $97.5M | 0 | |
| 2024-06-30 | 92 | $96.1M | 0 | |
| 2024-03-31 | 106 | $104.8M | 0 | |
| 2023-12-31 | 69 | $83.4M | 0 |
NDVR, Inc.'s most significant position changes for 2025-12-31: Sold out: Stride INC (LRN); New buy: Newmont CORP (NEM); New buy: Schwab (charles) CORP (SCHW); Sold out: O'reilly Automotive INC (ORLY); New buy: Dollar Tree INC (DLTR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VEA | Vanguard Ftse Developed ETF | +0.6% | -1.25% | Trim |
| 2 | GOOGL | Alphabet Inc-cl A | +0.4% | +14.62% | Add |
| 3 | GOOG | Alphabet Inc-cl C | +0.4% | +18.99% | Add |
| 4 | SGOV | Ishares 0-3 Month Treasury B | +0.3% | +7.56% | Add |
| 5 | AVGO | Broadcom INC | +0.2% | +26.20% | Add |
| 6 | LLY | Eli Lilly & Co | +0.2% | +26.50% | Add |
| 7 | AMZN | Amazon.com INC | +0.2% | -0.50% | Trim |
| 8 | MSFT | Microsoft CORP | -0.4% | -3.62% | Trim |
| 9 | HUBS | Hubspot INC | -1.9% | -5.00% | Trim |
| 10 | LRN | Stride INC | — | EXIT | Sold out |
| 11 | NEM | Newmont CORP | — | NEW | New buy |
| 12 | SCHW | Schwab (charles) CORP | — | NEW | New buy |
| 13 | ORLY | O'reilly Automotive INC | — | EXIT | Sold out |
| 14 | DLTR | Dollar Tree INC | — | NEW | New buy |
| 15 | PRI | Primerica INC | — | EXIT | Sold out |
| 16 | AMP | Ameriprise Financial INC | — | EXIT | Sold out |
| 17 | PGNY | Progyny INC | — | NEW | New buy |
| 18 | ✓ | Csg Systems International In | — | NEW | New buy |
| 19 | HCA | Hca Healthcare INC | — | NEW | New buy |
| 20 | SYF | Synchrony Financial | — | NEW | New buy |
| 21 | LNG | Cheniere Energy INC | — | EXIT | Sold out |
| 22 | AFL | Aflac INC | — | EXIT | Sold out |
| 23 | BAC | Bank Of America CORP | — | NEW | New buy |
| 24 | BRC | Brady Corporation - Cl A | — | EXIT | Sold out |
| 25 | GL | Globe Life INC | — | NEW | New buy |
| 26 | INCY | Incyte CORP | — | NEW | New buy |
| 27 | CTA | Simplify Managed Futures St | — | NEW | New buy |
| 28 | THG | Hanover Insurance Group Inc/ | — | NEW | New buy |
| 29 | JNJ | Johnson & Johnson | — | NEW | New buy |
| 30 | EXPE | Expedia Group INC | — | NEW | New buy |
| 31 | BMY | Bristol-myers Squibb Co | — | NEW | New buy |
| 32 | PRDO | Perdoceo Education CORP | — | EXIT | Sold out |
| 33 | NMIH | Nmi Holdings INC | — | EXIT | Sold out |
| 34 | ENVA | Enova International INC | — | NEW | New buy |
| 35 | CCK | Crown Holdings INC | — | NEW | New buy |
| 36 | USFD | US Foods Holding CORP | — | NEW | New buy |
| 37 | BWA | Borgwarner INC | — | NEW | New buy |
| 38 | HALO | Halozyme Therapeutics INC | — | NEW | New buy |
| 39 | MCRI | Monarch Casino & Resort INC | — | NEW | New buy |
| 40 | MUSA | Murphy USA INC | — | EXIT | Sold out |
| 41 | ACWI | Ishares Msci Acwi ETF | — | NEW | New buy |
| 42 | YOU | Clear Secure INC -class A | — | NEW | New buy |
| 43 | HRB | H&r Block INC | — | EXIT | Sold out |
| 44 | NXST | Nexstar Media Group INC | — | NEW | New buy |
| 45 | MPC | Marathon Petroleum CORP | — | EXIT | Sold out |
| 46 | CASY | Casey's General Stores INC | — | EXIT | Sold out |
| 47 | PHM | Pultegroup INC | — | EXIT | Sold out |
| 48 | VLO | Valero Energy CORP | — | EXIT | Sold out |
| 49 | HMN | Horace Mann Educators | — | NEW | New buy |
| 50 | CVX | Chevron CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-22 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-07 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-08 | 13F-HR | View on EDGAR |
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