PM
Phraction Management LLC 13F Filing (Q3 2026) — Top Positions & Stock Picks
Phraction Management LLCCIK: 0001907803
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$545.1M
Reporting period: 2026-09-30 · Number of holdings: 67
Phraction Management LLC disclosed 67 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $545.1M and a quarterly turnover rate of 25.5%.
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Personality snowflake
- Concentration
- 27.76
- Portfolio Stability
- 25.45
- Momentum
- 100
- Sector conviction
- 57.38
- Diversification
- 100
- Sizing Uniformity
- 80.93
Phraction Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.069 — mathematically equivalent to about 14 equally-sized positions, well below its 67 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 1.91), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim SPY
-38.1% -$67.1M
Add MSFT
+1.8% $9.3M
Add META
+57.5% $9.2M
Add TMO
-0.1% $6.0M
Add ADI
+25.3% $4.8M
Sold out 43849R105
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 66 holdings (of 67 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 21.13% | -9.47% | -38.11% | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 6.74% | +0.93% | +1.60% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 6.00% | +2.08% | +1.78% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.76% | +0.15% | -1.92% | |
| 5 | ASML | ASML Holding N.V. | Stock-Tech | 4.37% | -0.14% | -2.58% | |
| 6 | ADI | Analog Devices Inc | Stock-Tech | 4.33% | +1.16% | +25.32% | |
| 7 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 4.27% | +1.36% | -0.07% | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.34% | +1.83% | +57.50% | |
| 9 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.81% | +0.15% | +0.04% | |
| 10 | DHR | Danaher CORP | Stock-Healthcare | 2.74% | +0.53% | -2.32% | |
| 11 | ENTG | Entegris Inc | Stock-Tech | 2.71% | -0.19% | -0.10% | |
| 12 | BAC 7.25 PERP LBond | Bank Of America CORP | Bond | 2.68% | +0.12% | -1.54% | |
| 13 | TDG | Transdigm Group Inc | Stock-Industrials | 2.49% | +0.76% | +61.92% | |
| 14 | LIN | Linde plc | Stock-Materials | 2.12% | +0.02% | +0.60% | |
| 15 | V | Visa Inc-class A Shares | Stock-Financials | 1.93% | +0.24% | -0.25% | |
| 16 | AMAT | Applied Materials Inc | Stock-Tech | 1.72% | -0.88% | -14.10% | |
| 17 | RTX | Rtx CORP | Stock-Industrials | 1.71% | +0.09% | -1.34% | |
| 18 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.71% | +0.15% | +0.38% | |
| 19 | PHYS | Sprott Physical Gold Trust | Stock-Other | 1.67% | +0.20% | — | |
| 20 | BDX | Becton Dickinson And Co | Stock-Healthcare | 1.51% | +0.33% | -0.71% | |
| 21 | WFC 7.5 PERP LBond | Wells Fargo & Company | Bond | 1.51% | +0.24% | +16.77% | |
| 22 | SPGI | S&p Global Inc | Stock-Financials | 1.43% | -0.04% | -7.97% | |
| 23 | WMB | Williams Cos Inc | Stock-Energy | 1.35% | — | — | |
| 24 | TXN | Texas Instruments Inc | Stock-Tech | 1.34% | +0.03% | — | |
| 25 | TDY | Teledyne Technologies Inc | Stock-Tech | 1.33% | -0.01% | -0.18% | |
| 26 | ✓ | Stock-Other | 1.19% | +0.03% | -0.21% | ||
| 27 | SNPS | Synopsys Inc | Stock-Tech | 1.14% | +0.07% | -0.08% | |
| 28 | BAC | Bank Of America CORP | Stock-Financials | 0.94% | +0.02% | -1.78% | |
| 29 | LRCX | Lam Research CORP | Stock-Tech | 0.92% | -0.23% | -2.71% | |
| 30 | PM | Philip Morris International | Stock-Consumer Staples | 0.87% | +0.11% | -0.18% | |
| 31 | ICE | Intercontinental Exchange In | Stock-Financials | 0.83% | +0.05% | -20.89% | |
| 32 | FERG | Ferguson Enterprises Inc | Stock-Industrials | 0.69% | -0.04% | -8.16% | |
| 33 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.65% | +0.23% | — | |
| 34 | OTIS | Otis Worldwide CORP | Stock-Industrials | 0.45% | +0.45% | NEW | |
| 35 | NVDA | Nvidia CORP | Stock-Tech | 0.34% | +0.07% | — | |
| 36 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.33% | — | -4.62% | |
| 37 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.28% | +0.02% | -5.10% | |
| 38 | ET 9.25 PERP IBond | Energy Transfer LP | Bond | 0.27% | +0.13% | +89.67% | |
| 39 | MKTW | Marketwise Inc | Stock-Other | 0.26% | -0.02% | -21.66% | |
| 40 | ETN | Eaton Corporation plc | Stock-Industrials | 0.26% | +0.03% | — | |
| 41 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.22% | +0.05% | — | |
| 42 | KMI 4.75 03-31-28Bond | El Paso Energy Cap Trst | Bond | 0.22% | +0.22% | NEW | |
| 43 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.22% | +0.02% | — | |
| 44 | AAPL | Apple Inc | Stock-Tech | 0.21% | +0.04% | — | |
| 45 | BN | Brookfield CORP | Stock-Financials | 0.20% | -0.02% | — | |
| 46 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.18% | +0.01% | — | |
| 47 | MOAT | Vaneck Morningstar Wide Moat | ETF-Other | 0.18% | +0.02% | — | |
| 48 | SPGP | Invesco S&p 500 Garp ETF | ETF-Large Cap & Growth | 0.15% | +0.01% | — | |
| 49 | EPD | Enterprise Products Partners | Stock-Energy | 0.15% | +0.01% | — | |
| 50 | EWJ | Ishares Msci Japan ETF | ETF-Other | 0.14% | +0.14% | NEW |
1–50 of 66
Portfolio Performance
Performance for Q4 2026
+2.8%
Performance Last 4 Quarters
+21.4%
- Stdev
- +12.8%
- Beta
- +0.95
- Alpha
- +2.2%
- Max Drawdown
- -9%
- Annualized Perf
- +25.2%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +4.4
- Stutzer
- +0.55
- Treynor
- +0.25
- Sterling
- +1.55
- Calmar
- +2.79
- Information Ratio
- +0.17
- Tracking Error
- +5.6%
- Stdev Down
- +5.3%
- Winning Months %
- +75%
- Losing Months %
- +25%
- Best 12 Months
- +42.4%
- Worst 12 Months
- +7.6%
- Efficiency Ratio
- +0.83
- Sharpe
- +1.83
- Stdev Sectors
- +9.4%
- Skewness
- +0.33
- Kurtosis
- +0.58
- Upside Potential
- +5.84
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 67 | $545.1M | 25 | ||
| 2026 Q2 | 66 | $595.5M | 32 | ||
| 2026 Q1 | 65 | $482.9M | 38 | ||
| 2025 Q4 | 67 | $375.3M | 18 | ||
| 2025 Q3 | 66 | $346.5M | 36 | ||
| 2025 Q2 | 73 | $312.7M | 0 | ||
| 2025 Q1 | 74 | $298.6M | 0 | ||
| 2024 Q4 | 71 | $285.2M | 0 | ||
| 2024 Q3 | 69 | $282.8M | 0 | ||
| 2024 Q2 | 67 | $273.6M | 0 | ||
| 2024 Q1 | 63 | $259.9M | 0 | ||
| 2023 Q4 | 52 | $242.0M | 0 | ||
| 2023 Q3 | 50 | $212.0M | 0 | ||
| 2023 Q2 | 46 | $202.6M | 0 | ||
| 2023 Q1 | 45 | $174.4M | 0 | ||
| 2022 Q4 | 46 | $152.4M | 0 | ||
| 2022 Q3 | 48 | $132.4M | 0 | ||
| 2022 Q2 | 64 | $152.1M | 0 | ||
| 2022 Q1 | 65 | $173.8M | 0 | ||
| 2021 Q4 | 69 | $165.1M | 0 |
Holding changes this quarter
Phraction Management LLC's most significant position changes for 2026-09-30: Sold out: ; New buy: Otis Worldwide CORP (OTIS); New buy: El Paso Energy Cap Trst (KMI 4.75 03-31-28); New buy: Ishares Msci Japan ETF (EWJ); New buy: Zoom Communications Inc (ZM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +2.1% | +1.78% | Add |
| 2 | META | Meta Platforms Inc-class A | +1.8% | +57.50% | Add |
| 3 | TMO | Thermo Fisher Scientific Inc | +1.4% | -0.07% | Trim |
| 4 | ADI | Analog Devices Inc | +1.2% | +25.32% | Add |
| 5 | AMZN | Amazon.com Inc | +0.9% | +1.60% | Add |
| 6 | TDG | Transdigm Group Inc | +0.8% | +61.92% | Add |
| 7 | DHR | Danaher CORP | +0.5% | -2.32% | Trim |
| 8 | OTIS | Otis Worldwide CORP | +0.5% | NEW | New buy |
| 9 | BDX | Becton Dickinson And Co | +0.3% | -0.71% | Trim |
| 10 | WFC 7.5 PERP LBond | Wells Fargo & Company | +0.2% | +16.77% | Add |
| 11 | V | Visa Inc-class A Shares | +0.2% | -0.25% | Trim |
| 12 | IBIT | Ishares Bitcoin Trust ETF | +0.2% | — | Unchanged |
| 13 | KMI 4.75 03-31-28Bond | El Paso Energy Cap Trst | +0.2% | NEW | New buy |
| 14 | PHYS | Sprott Physical Gold Trust | +0.2% | — | Unchanged |
| 15 | GOOGL | Alphabet Inc-cl A | +0.2% | -1.92% | Trim |
| 16 | GOOG | Alphabet Inc-cl C | +0.2% | +0.04% | Add |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | +0.2% | +0.38% | Add |
| 18 | EWJ | Ishares Msci Japan ETF | +0.1% | NEW | New buy |
| 19 | ET 9.25 PERP IBond | Energy Transfer LP | +0.1% | +89.67% | Add |
| 20 | BAC 7.25 PERP LBond | Bank Of America CORP | +0.1% | -1.54% | Trim |
| 21 | PM | Philip Morris International | +0.1% | -0.18% | Trim |
| 22 | ZM | Zoom Communications Inc | +0.1% | NEW | New buy |
| 23 | RTX | Rtx CORP | +0.1% | -1.34% | Trim |
| 24 | FXY | Invesco Currencyshares Japan | +0.1% | NEW | New buy |
| 25 | NVDA | Nvidia CORP | +0.1% | — | Unchanged |
| 26 | SNPS | Synopsys Inc | +0.1% | -0.08% | Trim |
| 27 | ✓ | +0.1% | NEW | New buy | |
| 28 | GDX | Vaneck Gold Miners ETF | +0.1% | — | Unchanged |
| 29 | ICE | Intercontinental Exchange In | +0.1% | -20.89% | Trim |
| 30 | AAPL | Apple Inc | 0% | — | Unchanged |
| 31 | TXN | Texas Instruments Inc | 0% | — | Unchanged |
| 32 | ✓ | 0% | -0.21% | Trim | |
| 33 | ETN | Eaton Corporation plc | 0% | — | Unchanged |
| 34 | LIN | Linde plc | 0% | +0.60% | Add |
| 35 | BAC | Bank Of America CORP | 0% | -1.78% | Trim |
| 36 | BSX | Boston Scientific CORP | 0% | -5.10% | Trim |
| 37 | RSP | Invesco S&p 500 Equal Weight | 0% | — | Unchanged |
| 38 | MOAT | Vaneck Morningstar Wide Moat | 0% | — | Unchanged |
| 39 | REGN | Regeneron Pharmaceuticals | 0% | — | Unchanged |
| 40 | INDA | Ishares Msci India ETF | 0% | — | Unchanged |
| 41 | EPD | Enterprise Products Partners | 0% | — | Unchanged |
| 42 | SPGP | Invesco S&p 500 Garp ETF | 0% | — | Unchanged |
| 43 | IHI | Ishares U.s. Medical Devices | 0% | -6.22% | Trim |
| 44 | VEU | Vanguard Ftse All-world Ex-u | 0% | — | Unchanged |
| 45 | QQQ | Invesco Qqq Trust Series 1 | 0% | — | Unchanged |
| 46 | WMB | Williams Cos Inc | — | — | Unchanged |
| 47 | PEP | Pepsico Inc | — | -4.62% | Trim |
| 48 | ASHR | Xtrackers Harvest Csi 300 Ch | — | — | Unchanged |
| 49 | FMX | Fomento Economico Mex-sp Adr | — | — | Unchanged |
| 50 | AVGO | Broadcom Inc | — | — | Unchanged |
1–50 of 72
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is Phraction Management LLC and what type of investor is it?
Phraction Management 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 (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $545.1M, spread across 67 disclosed positions.
What are Phraction Management LLC's largest equity positions?
Based on the latest 13F filing, Phraction Management LLC's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $115.2M (21.1%)
2. Amazon.com Inc (AMZN) — $36.8M (6.7%)
3. Microsoft CORP (MSFT) — $32.7M (6.0%)
4. Alphabet Inc-cl A (GOOGL) — $25.9M (4.8%)
5. ASML Holding N.V. (ASML) — $23.8M (4.4%)
What changes did Phraction Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Phraction Management LLC made 47 notable position adjustments: 7 new positions were initiated, 10 existing holdings were added to, 24 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: ; New buy: Otis Worldwide CORP (OTIS); New buy: El Paso Energy Cap Trst (KMI 4.75 03-31-28); New buy: Ishares Msci Japan ETF (EWJ); New buy: Zoom Communications Inc (ZM)
What sectors does Phraction Management LLC focus on?
Phraction Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 34.3%
• Communication Services: 15.2%
• Financials: 13.3%
• Health Care: 12.4%
• Consumer Discretionary: 9.5%
• Industrials: 7.8%
Investment Profile
Phraction Management LLC returned an annualized 25.2% over the trailing 36 months — outperforming the S&P 500 by 2.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.95 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 34.3% of the portfolio concentrated in Information Technology.
It has added to its META position over the past two quarters (+$14.6M, now $18.2M), while trimming SPGI over the same stretch (-$3.3M, still holding $7.8M).
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Developer Access
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