CIK: 0001540462
Total reported value
$150.2M
Reporting period: 2026-03-31 · Number of holdings: 69
Richmond Brothers, Inc. disclosed 69 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $150.2M and a quarterly turnover rate of 13.7%.
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Richmond Brothers, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.110 — mathematically equivalent to about 9 equally-sized positions, well below its 69 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 1.74), 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 5% 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.
Add VNQ
+94.2% $3.0M
Add VDE
-5.2% $2.0M
Trim QQQ
-1.0% -$3.3M
Trim BIV
-20.5% -$1.2M
Trim BLV
-19.9% -$1.1M
Trim VTIP
-31.7% -$904.1K
Showing top 36 holdings (of 69 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 28.98% | -0.79% | -1.00% | |
| 2 | VDE | Vanguard Energy ETF | ETF-Other | 5.67% | +1.51% | -5.20% | |
| 3 | VPU | Vanguard Utilities ETF | ETF-Other | 4.74% | +0.42% | -2.10% | |
| 4 | VAW | Vanguard Materials ETF | ETF-Other | 4.66% | +0.38% | -4.29% | |
| 5 | VIS | Vanguard Industrials ETF | ETF-Other | 4.56% | +0.19% | -4.63% | |
| 6 | VDC | Vanguard Consumer Staple ETF | ETF-Other | 4.43% | +0.36% | -2.28% | |
| 7 | VOX | Vanguard Communication Servi | ETF-Other | 4.39% | -0.27% | -3.18% | |
| 8 | VHT | Vanguard Health Care ETF | ETF-Other | 4.32% | -0.14% | -2.30% | |
| 9 | VGT | Vanguard Info Tech ETF | ETF-Tech | 4.19% | -0.24% | -2.13% | |
| 10 | VFH | Vanguard Financials ETF | ETF-Other | 4.11% | -0.30% | -1.45% | |
| 11 | VNQ | Vanguard Real Estate ETF | ETF-Other | 4.11% | +2.09% | +94.15% | |
| 12 | VCR | Vanguard Consumer Discre ETF | ETF-Other | 4.01% | -0.27% | -1.83% | |
| 13 | BIV | Vanguard Intermediate-term B | ETF-Other | 2.93% | -0.62% | -20.49% | |
| 14 | BLV | Vanguard Long-term Bond ETF | ETF-Other | 2.88% | -0.59% | -19.90% | |
| 15 | AAPL | Apple INC | Stock-Tech | 1.96% | -0.24% | -8.76% | |
| 16 | GOF | Guggenheim Strategic Opport | Stock-Other | 1.90% | -0.07% | +7.42% | |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.88% | +0.01% | +1.03% | |
| 18 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 1.69% | -0.04% | -6.34% | |
| 19 | VTIP | Vanguard Short-term Tips | ETF-Other | 1.34% | -0.52% | -31.66% | |
| 20 | EDV | Vanguard Extended Dur Treas | ETF-Other | 1.29% | -0.45% | -29.08% | |
| 21 | SSO | Proshares Ultra S&p500 | ETF-Other | 0.86% | -0.46% | -30.50% | |
| 22 | ✓ | Connect Biopharma Hldgs LTD | Stock-Other | 0.83% | +0.52% | +174.71% | |
| 23 | QLD | Proshares Ultra Qqq | ETF-Other | 0.82% | -0.49% | -30.90% | |
| 24 | HRTX | Heron Therapeutics INC | Stock-Other | 0.77% | +0.30% | +151.12% | |
| 25 | TQQQ | Proshares Ultrapro Qqq | ETF-Other | 0.62% | -0.08% | +5.84% | |
| 26 | MSFT | Microsoft CORP | Stock-Tech | 0.56% | -0.14% | +0.13% | |
| 27 | MDXG | Mimedx Group INC | Stock-Other | 0.31% | -0.09% | +27.81% | |
| 28 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.26% | — | +0.30% | |
| 29 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.24% | — | — | |
| 30 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.17% | -0.01% | — | |
| 31 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 0.17% | +0.01% | — | |
| 32 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.15% | — | +6.36% | |
| 33 | NVG | Nuveen Amt-fr Muni Crdt | Stock-Other | 0.10% | -0.02% | -15.02% | |
| 34 | ALVO | Alvotech | Stock-Other | 0.10% | +0.05% | +220.99% | |
| 35 | RMTI | Rockwell Medical INC | Stock-Other | 0.02% | — | — | |
| 36 | OPTT | Ocean Power Technologies INC | Stock-Other | — | — | -35.47% |
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+16.4%
Based on 80% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 69 | $150.2M | 14 | |
| 2025-12-31 | 57 | $157.2M | 21 | |
| 2025-09-30 | 54 | $158.4M | 71 | |
| 2025-06-30 | 49 | $152.7M | 0 | |
| 2025-03-31 | 47 | $158.2M | 0 | |
| 2024-12-31 | 51 | $156.0M | 0 | |
| 2024-09-30 | 53 | $162.2M | 0 | |
| 2024-06-30 | 22 | $50.6M | 0 | |
| 2024-03-31 | 24 | $54.0M | 0 | |
| 2023-12-31 | 23 | $57.4M | 0 | |
| 2023-09-30 | 24 | $53.2M | 0 | |
| 2023-06-30 | 22 | $61.8M | 0 | |
| 2023-03-31 | 22 | $59.3M | 0 | |
| 2022-12-31 | 21 | $71.3M | 0 | |
| 2022-09-30 | 24 | $89.8M | 0 | |
| 2022-06-30 | 22 | $97.7M | 0 | |
| 2022-03-31 | 22 | $129.9M | 0 | |
| 2021-12-31 | 25 | $139.2M | 0 |
Richmond Brothers, Inc.'s most significant position changes for 2026-03-31: Add: Vanguard Real Estate ETF (VNQ) — shares +94.15%; Trim: Vanguard Energy ETF (VDE) — shares -5.20%; Trim: Invesco Qqq Trust Series 1 (QQQ) — shares -1.00%; Trim: Vanguard Intermediate-term B (BIV) — shares -20.49%; Trim: Vanguard Long-term Bond ETF (BLV) — shares -19.90%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VNQ | Vanguard Real Estate ETF | +2.1% | +94.15% | Add |
| 2 | VDE | Vanguard Energy ETF | +1.5% | -5.20% | Trim |
| 3 | ✓ | Connect Biopharma Hldgs LTD | +0.5% | +174.71% | Add |
| 4 | VPU | Vanguard Utilities ETF | +0.4% | -2.10% | Trim |
| 5 | VAW | Vanguard Materials ETF | +0.4% | -4.29% | Trim |
| 6 | VDC | Vanguard Consumer Staple ETF | +0.4% | -2.28% | Trim |
| 7 | HRTX | Heron Therapeutics INC | +0.3% | +151.12% | Add |
| 8 | VIS | Vanguard Industrials ETF | +0.2% | -4.63% | Trim |
| 9 | ALVO | Alvotech | +0.1% | +220.99% | Add |
| 10 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | +1.03% | Add |
| 11 | BIL | Ss Spdr Bb 1-3m T-bill ETF | 0% | — | Unchanged |
| 12 | GOOGL | Alphabet Inc-cl A | — | +0.30% | Add |
| 13 | IVV | Ishares Core S&p 500 ETF | — | — | Unchanged |
| 14 | AMZN | Amazon.com INC | — | +6.36% | Add |
| 15 | RMTI | Rockwell Medical INC | — | — | Unchanged |
| 16 | OPTT | Ocean Power Technologies INC | — | -35.47% | Trim |
| 17 | GOOG | Alphabet Inc-cl C | 0% | — | Unchanged |
| 18 | NVG | Nuveen Amt-fr Muni Crdt | 0% | -15.02% | Trim |
| 19 | BSV | Vanguard Short-term Bond ETF | 0% | -6.34% | Trim |
| 20 | GOF | Guggenheim Strategic Opport | -0.1% | +7.42% | Add |
| 21 | TQQQ | Proshares Ultrapro Qqq | -0.1% | +5.84% | Add |
| 22 | MDXG | Mimedx Group INC | -0.1% | +27.81% | Add |
| 23 | VHT | Vanguard Health Care ETF | -0.1% | -2.30% | Trim |
| 24 | MSFT | Microsoft CORP | -0.1% | +0.13% | Add |
| 25 | VGT | Vanguard Info Tech ETF | -0.2% | -2.13% | Trim |
| 26 | AAPL | Apple INC | -0.2% | -8.76% | Trim |
| 27 | VOX | Vanguard Communication Servi | -0.3% | -3.18% | Trim |
| 28 | VCR | Vanguard Consumer Discre ETF | -0.3% | -1.83% | Trim |
| 29 | VFH | Vanguard Financials ETF | -0.3% | -1.45% | Trim |
| 30 | EDV | Vanguard Extended Dur Treas | -0.5% | -29.08% | Trim |
| 31 | SSO | Proshares Ultra S&p500 | -0.5% | -30.50% | Trim |
| 32 | QLD | Proshares Ultra Qqq | -0.5% | -30.90% | Trim |
| 33 | VTIP | Vanguard Short-term Tips | -0.5% | -31.66% | Trim |
| 34 | BLV | Vanguard Long-term Bond ETF | -0.6% | -19.90% | Trim |
| 35 | BIV | Vanguard Intermediate-term B | -0.6% | -20.49% | Trim |
| 36 | QQQ | Invesco Qqq Trust Series 1 | -0.8% | -1.00% | Trim |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-11 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-08 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-02 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-09 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-08 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-03 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-10 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-08 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-02 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-05 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
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