PA
Professional Advisory Services Inc 13F Holdings & Position Changes (Q3 2026)
Professional Advisory Services IncCIK: 0000894205
Diversified strategyContrarianQuality / disciplined sizing
Total reported value
$836.9M
Reporting period: 2026-09-30 · Number of holdings: 90
PROFESSIONAL ADVISORY SERVICES INC disclosed 90 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $836.9M and a quarterly turnover rate of 15.2%.
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Personality snowflake
- Concentration
- 12.09
- Portfolio Stability
- 15.19
- Momentum
- 0
- Sector conviction
- 50.92
- Diversification
- 100
- Sizing Uniformity
- 86.81
Professional Advisory Services Inc's disclosed holdings carry a Herfindahl concentration index of 0.030 — mathematically equivalent to about 33 equally-sized positions, well below its 90 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 1.32), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy XLE
Sold out TFC
New buy NFLX
Trim EMXC
-25.5% -$7.8M
Add MSFT
-13.7% $6.4M
Trim APH
+80.9% -$4.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 4.90% | +0.76% | -13.74% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.82% | +0.01% | +4.13% | |
| 3 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 4.08% | +0.19% | -21.92% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 4.05% | -0.08% | -6.23% | |
| 5 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 3.76% | -0.10% | -1.81% | |
| 6 | AZN | AstraZeneca PLC | Stock-Healthcare | 3.55% | -0.07% | +12.58% | |
| 7 | AAPL | Apple Inc | Stock-Tech | 3.49% | +0.05% | -11.69% | |
| 8 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 3.35% | -0.24% | +0.05% | |
| 9 | APH | Amphenol Corp-cl A | Stock-Tech | 3.30% | -0.52% | +80.93% | |
| 10 | SYK | Stryker CORP | Stock-Healthcare | 3.26% | +0.12% | +18.67% | |
| 11 | AJG | Arthur J Gallagher & Co | Stock-Financials | 3.22% | +0.24% | +9.07% | |
| 12 | ELV | Elevance Health Inc | Stock-Healthcare | 3.18% | — | -0.18% | |
| 13 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 3.14% | +0.08% | +12.52% | |
| 14 | J | Jacobs Solutions Inc | Stock-Industrials | 3.14% | -0.08% | -9.09% | |
| 15 | AMD | Advanced Micro Devices | Stock-Tech | 3.14% | -0.41% | -15.96% | |
| 16 | ADI | Analog Devices Inc | Stock-Tech | 3.12% | +0.49% | +19.14% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 2.85% | -0.06% | -6.50% | |
| 18 | T | At&t Inc | Stock-Comm Services | 2.78% | +0.30% | -4.64% | |
| 19 | PEP | Pepsico Inc | Stock-Consumer Staples | 2.76% | -0.40% | -6.54% | |
| 20 | XLE | Ss Energy Select Sector | ETF-Other | 2.75% | +2.75% | NEW | |
| 21 | SYY | Sysco CORP | Stock-Consumer Staples | 2.70% | -0.29% | -3.07% | |
| 22 | SPGI | S&p Global Inc | Stock-Financials | 2.70% | -0.02% | +2.67% | |
| 23 | USB | US Bancorp | Stock-Financials | 2.66% | -0.26% | -4.49% | |
| 24 | GD | General Dynamics CORP | Stock-Industrials | 2.62% | -0.22% | -1.46% | |
| 25 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 2.62% | +0.03% | +15.97% | |
| 26 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 2.43% | -0.94% | -25.49% | |
| 27 | CARR | Carrier Global CORP | Stock-Industrials | 2.43% | -0.22% | +22.71% | |
| 28 | NFLX | Netflix Inc | Stock-Comm Services | 2.10% | +2.10% | NEW | |
| 29 | ADBE | Adobe Inc | Stock-Tech | 1.77% | +0.15% | -6.36% | |
| 30 | LRCX | Lam Research CORP | Stock-Tech | 1.15% | -0.46% | -5.87% | |
| 31 | ASML | ASML Holding N.V. | Stock-Tech | 0.95% | -0.09% | +1.24% | |
| 32 | AMAT | Applied Materials Inc | Stock-Tech | 0.84% | -0.30% | +4.20% | |
| 33 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 0.75% | +0.01% | +4.21% | |
| 34 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.58% | +0.03% | +0.04% | |
| 35 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.50% | — | — | |
| 36 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.45% | -0.02% | -0.41% | |
| 37 | NVDA | Nvidia CORP | Stock-Tech | 0.27% | +0.03% | +0.77% | |
| 38 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.27% | +0.01% | +1.31% | |
| 39 | SHV | Ishares 0-1 Year Treasury Bo | ETF-Gov Bonds | 0.24% | +0.07% | +44.93% | |
| 40 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.24% | — | +3.50% | |
| 41 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.20% | — | — | |
| 42 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.16% | +0.01% | -0.69% | |
| 43 | ABBV | Abbvie Inc | Stock-Healthcare | 0.14% | — | +0.04% | |
| 44 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.14% | +0.02% | +0.33% | |
| 45 | ROK | Rockwell Automation Inc | Stock-Industrials | 0.12% | -0.02% | — | |
| 46 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.10% | — | -4.80% | |
| 47 | CVX | Chevron CORP | Stock-Energy | 0.10% | +0.02% | — | |
| 48 | CSCO | Cisco Systems Inc | Stock-Tech | 0.10% | -0.01% | +0.53% | |
| 49 | ORCL | Oracle CORP | Stock-Tech | 0.10% | — | -0.07% | |
| 50 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.09% | — | — |
1–50 of 90
Portfolio Performance
Performance for Q4 2026
0%
Performance Last 4 Quarters
+13.1%
- Stdev
- +12.4%
- Beta
- +0.91
- Alpha
- -4.9%
- Max Drawdown
- -8.3%
- Annualized Perf
- +16.3%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.53
- Stutzer
- +0.38
- Treynor
- +0.17
- Sterling
- +0.98
- Calmar
- +1.95
- Information Ratio
- -1.24
- Tracking Error
- +5.5%
- Stdev Down
- +6.3%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +25.2%
- Worst 12 Months
- +0.8%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.28
- Stdev Sectors
- +8.1%
- Skewness
- +0.29
- Kurtosis
- +1.02
- Upside Potential
- +4.07
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 90 | $836.9M | 15 | ||
| 2026 Q2 | 93 | $835.7M | 0 | ||
| 2026 Q1 | 80 | $724.4M | 13 | ||
| 2025 Q4 | 80 | $771.6M | 14 | ||
| 2025 Q3 | 81 | $768.3M | 32 | ||
| 2025 Q2 | 84 | $737.1M | 0 | ||
| 2025 Q1 | 83 | $714.0M | 100 | ||
| 2024 Q4 | 78 | $724.5M | 0 | ||
| 2024 Q3 | 81 | $761.7M | 0 | ||
| 2024 Q2 | 78 | $732.3M | 0 | ||
| 2024 Q1 | 77 | $736.9M | 0 | ||
| 2023 Q4 | 73 | $699.8M | 0 | ||
| 2023 Q3 | 67 | $608.0M | 0 | ||
| 2023 Q2 | 72 | $658.7M | 0 | ||
| 2023 Q1 | 76 | $641.7M | 0 | ||
| 2022 Q4 | 77 | $614.4M | 0 | ||
| 2022 Q3 | 71 | $575.7M | 0 | ||
| 2022 Q2 | 72 | $600.0M | 0 | ||
| 2022 Q1 | 80 | $696.5M | 0 | ||
| 2021 Q4 | 80 | $735.3M | 0 | ||
| 2021 Q3 | 78 | $681.0M | 0 | ||
| 2021 Q2 | 80 | $688.7M | 14 | ||
| 2021 Q1 | 70 | $652.9M | 10 | ||
| 2020 Q4 | 71 | $622.0M | 13 | ||
| 2020 Q3 | 65 | $560.2M | 15 | ||
| 2020 Q2 | 64 | $519.8M | 30 | ||
| 2020 Q1 | 63 | $431.0M | 43 | ||
| 2019 Q4 | 71 | $561.5M | 17 | ||
| 2019 Q3 | 68 | $526.1M | 8 | ||
| 2019 Q2 | 64 | $515.7M | 11 | ||
| 2019 Q1 | 68 | $497.8M | 18 | ||
| 2018 Q4 | 67 | $449.0M | 25 | ||
| 2018 Q3 | 67 | $507.1M | 10 | ||
| 2018 Q2 | 64 | $484.6M | 11 | ||
| 2018 Q1 | 64 | $462.0M | 25 | ||
| 2017 Q4 | 62 | $474.2M | 18 | ||
| 2017 Q3 | 62 | $469.4M | 6 | ||
| 2017 Q2 | 58 | $461.0M | 13 | ||
| 2017 Q1 | 60 | $451.8M | 22 | ||
| 2016 Q4 | 59 | $430.0M | 9 | ||
| 2016 Q3 | 58 | $438.7M | 18 | ||
| 2016 Q2 | 57 | $437.1M | 14 | ||
| 2016 Q1 | 57 | $423.0M | 12 | ||
| 2015 Q4 | 58 | $419.2M | 37 | ||
| 2015 Q3 | 56 | $398.5M | 24 | ||
| 2015 Q2 | 59 | $417.4M | 10 | ||
| 2015 Q1 | 57 | $416.4M | 39 | ||
| 2014 Q4 | 59 | $429.1M | 11 | ||
| 2014 Q3 | 60 | $413.5M | 18 | ||
| 2014 Q2 | 61 | $411.9M | 18 | ||
| 2014 Q1 | 50 | $400.8M | 17 | ||
| 2013 Q4 | 47 | $384.8M | 22 | ||
| 2013 Q3 | 46 | $354.6M | 20 | ||
| 2013 Q2 | 47 | $334.8M | 0 |
Holding changes this quarter
Professional Advisory Services Inc's most significant position changes for 2026-09-30: New buy: Ss Energy Select Sector (XLE); Sold out: Truist Financial CORP (TFC); New buy: Netflix Inc (NFLX); Sold out: Vanguard 0-3m T-bill ETF (VBIL); Sold out: Exxon Mobil CORP (XOM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XLE | Ss Energy Select Sector | +2.8% | NEW | New buy |
| 2 | NFLX | Netflix Inc | +2.1% | NEW | New buy |
| 3 | MSFT | Microsoft CORP | +0.8% | -13.74% | Trim |
| 4 | ADI | Analog Devices Inc | +0.5% | +19.14% | Add |
| 5 | T | At&t Inc | +0.3% | -4.64% | Trim |
| 6 | AJG | Arthur J Gallagher & Co | +0.2% | +9.07% | Add |
| 7 | TMO | Thermo Fisher Scientific Inc | +0.2% | -21.92% | Trim |
| 8 | ADBE | Adobe Inc | +0.2% | -6.36% | Trim |
| 9 | SYK | Stryker CORP | +0.1% | +18.67% | Add |
| 10 | BKNG | Booking Holdings Inc | +0.1% | +12.52% | Add |
| 11 | SHV | Ishares 0-1 Year Treasury Bo | +0.1% | +44.93% | Add |
| 12 | AAPL | Apple Inc | +0.1% | -11.69% | Trim |
| 13 | NVDA | Nvidia CORP | 0% | +0.77% | Add |
| 14 | TJX | Tjx Companies Inc | 0% | +15.97% | Add |
| 15 | VEEV | Veeva Systems Inc-class A | 0% | NEW | New buy |
| 16 | JNJ | Johnson & Johnson | 0% | +0.04% | Add |
| 17 | MPC | Marathon Petroleum CORP | 0% | — | Unchanged |
| 18 | CVX | Chevron CORP | 0% | — | Unchanged |
| 19 | MRK | Merck & Co. Inc. | 0% | +0.33% | Add |
| 20 | GOOG | Alphabet Inc-cl C | 0% | +4.13% | Add |
| 21 | VCSH | Vanguard S/t CORP Bond ETF | 0% | +4.21% | Add |
| 22 | PFE | Pfizer Inc | 0% | +0.08% | Add |
| 23 | VOO | Vanguard S&p 500 ETF | 0% | +1.31% | Add |
| 24 | BLK | Blackrock Inc | 0% | — | Unchanged |
| 25 | ABT | Abbott Laboratories | 0% | — | Unchanged |
| 26 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -0.69% | Trim |
| 27 | CTBI | Community Trust Bancorp Inc | 0% | — | Unchanged |
| 28 | ELV | Elevance Health Inc | — | -0.18% | Trim |
| 29 | ORCL | Oracle CORP | — | -0.07% | Trim |
| 30 | MCK | Mckesson CORP | — | — | Unchanged |
| 31 | VTI | Vanguard Total Stock Mkt ETF | — | — | Unchanged |
| 32 | ABBV | Abbvie Inc | — | +0.04% | Add |
| 33 | ANET | Arista Networks Inc | — | +1.09% | Add |
| 34 | URI | United Rentals Inc | — | — | Unchanged |
| 35 | IWM | Ishares Russell 2000 ETF | — | — | Unchanged |
| 36 | DIS | Walt Disney Co/the | — | — | Unchanged |
| 37 | WMT | Walmart Inc | — | -1.69% | Trim |
| 38 | VNQ | Vanguard Real Estate ETF | — | — | Unchanged |
| 39 | PSLV | Sprott Physical Silver Trust | — | +8.01% | Add |
| 40 | RSP | Invesco S&p 500 Equal Weight | — | +3.50% | Add |
| 41 | IVV | Ishares Core S&p 500 ETF | — | -4.80% | Trim |
| 42 | BAC | Bank Of America CORP | — | — | Unchanged |
| 43 | PG | Procter & Gamble Co/the | — | — | Unchanged |
| 44 | COST | Costco Wholesale CORP | — | -2.91% | Trim |
| 45 | IWN | Ishares Russell 2000 Value E | — | — | Unchanged |
| 46 | PM | Philip Morris International | — | — | Unchanged |
| 47 | GLD | Spdr Gold Shares | — | — | Unchanged |
| 48 | PHYS | Sprott Physical Gold Trust | — | — | Unchanged |
| 49 | CSW | Csw Industrials Inc | — | — | Unchanged |
| 50 | AME | Ametek Inc | — | — | Unchanged |
1–50 of 96
Filing History
FAQ
What is Professional Advisory Services Inc and what type of investor is it?
Professional Advisory Services Inc 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 $836.9M, spread across 90 disclosed positions.
What are Professional Advisory Services Inc's largest equity positions?
Based on the latest 13F filing, Professional Advisory Services Inc's top holdings by market value are:
1. Microsoft CORP (MSFT) — $41.0M (4.9%)
2. Alphabet Inc-cl C (GOOG) — $40.3M (4.8%)
3. Thermo Fisher Scientific Inc (TMO) — $34.2M (4.1%)
4. Amazon.com Inc (AMZN) — $33.9M (4.0%)
5. Berkshire Hathaway Inc-cl B (BRK-B) — $31.5M (3.8%)
What changes did Professional Advisory Services Inc make in its most recent portfolio filing?
In the latest reported quarter, Professional Advisory Services Inc made 62 notable position adjustments: 3 new positions were initiated, 29 existing holdings were added to, 24 positions were partially reduced, and 6 were completely exited. The largest of these moves: New buy: Ss Energy Select Sector (XLE); Sold out: Truist Financial CORP (TFC); New buy: Netflix Inc (NFLX); Sold out: Vanguard 0-3m T-bill ETF (VBIL); Sold out: Exxon Mobil CORP (XOM)
What sectors does Professional Advisory Services Inc focus on?
Professional Advisory Services Inc is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 27.6%
• Health Care: 17.9%
• Financials: 13.7%
• Communication Services: 12.0%
• Consumer Discretionary: 11.7%
• Industrials: 10.1%
Investment Profile
Professional Advisory Services Inc returned an annualized 16.3% over the trailing 36 months — underperforming the S&P 500 by 4.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.91 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its turnover score has fallen from 32 to 15 over the past 4 quarters — a shift toward longer holding periods.
It has added to its T position over the past two quarters (+$11.3M, now $23.3M), while trimming EMXC over the same stretch (-$11.7M, still holding $20.3M).
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Developer Access
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