SC
Sippican Capital Advisors Quarterly 13F Portfolio Update (Q3 2026)
Sippican Capital AdvisorsCIK: 0001557406
Diversified strategyContrarianQuality / disciplined sizing
Total reported value
$150.4M
Reporting period: 2026-09-30 · Number of holdings: 99
Sippican Capital Advisors disclosed 99 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $150.4M and a quarterly turnover rate of 21.6%.
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Personality snowflake
- Concentration
- 6.6
- Portfolio Stability
- 21.6
- Momentum
- 0
- Sector conviction
- 43.41
- Diversification
- 100
- Sizing Uniformity
- 92
Sippican Capital Advisors's disclosed holdings carry a Herfindahl concentration index of 0.017 — mathematically equivalent to about 61 equally-sized positions, close to its 99 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.80), 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 67% 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.govNew buy 30233Q108
Sold out XOM
Trim TBBK
-0.6% -$2.2M
Add NFLX
+141.6% $1.3M
Add ORCL
+38.1% $810.8K
Trim TFIN
-6.3% -$1.4M
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 | TBBK | Bancorp Inc/the | Stock-Other | 4.65% | -0.93% | -0.57% | |
| 2 | GE | General Electric | Stock-Industrials | 3.06% | -0.31% | -0.37% | |
| 3 | TFIN | Triumph Financial Inc | Stock-Other | 2.62% | -0.65% | -6.29% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.43% | +0.17% | +2.18% | |
| 5 | ORCL | Oracle CORP | Stock-Tech | 2.38% | +0.70% | +38.08% | |
| 6 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 2.36% | +0.23% | -6.11% | |
| 7 | ✓ | Stock-Other | 2.27% | +2.27% | NEW | ||
| 8 | ABBV | Abbvie Inc | Stock-Healthcare | 2.18% | +0.19% | -3.26% | |
| 9 | ALRS | Alerus Financial CORP | Stock-Other | 2.17% | +0.05% | -7.51% | |
| 10 | MRK | Merck & Co. Inc. | Stock-Healthcare | 2.10% | +0.37% | -1.21% | |
| 11 | PFE | Pfizer Inc | Stock-Healthcare | 2.09% | +0.59% | +7.82% | |
| 12 | CVX | Chevron CORP | Stock-Energy | 2.05% | +0.33% | -10.95% | |
| 13 | LLY | Eli Lilly & Co | Stock-Healthcare | 2.04% | +0.01% | -4.15% | |
| 14 | EGBN | Eagle Bancorp Inc | Stock-Other | 2.04% | +0.13% | -0.14% | |
| 15 | MMM | 3m Co | Stock-Industrials | 2.01% | +0.17% | -1.06% | |
| 16 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.00% | +0.28% | +1.92% | |
| 17 | NVR | Nvr Inc | Stock-Consumer Disc | 1.99% | -0.04% | -0.61% | |
| 18 | CUBI | Customers Bancorp Inc | Stock-Other | 1.96% | +0.04% | -0.05% | |
| 19 | IBM | Intl Business Machines CORP | Stock-Tech | 1.91% | +0.36% | +44.58% | |
| 20 | IREN | IREN Limited | Stock-Other | 1.77% | +0.40% | +32.75% | |
| 21 | COLB | Columbia Banking System Inc | Stock-Financials | 1.63% | -0.39% | -17.23% | |
| 22 | MCB | Metropolitan Bank Holding Co | Stock-Other | 1.58% | -0.09% | -1.70% | |
| 23 | RTX | Rtx CORP | Stock-Industrials | 1.51% | +0.10% | — | |
| 24 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.46% | +0.11% | — | |
| 25 | NFLX | Netflix Inc | Stock-Comm Services | 1.45% | +0.89% | +141.61% | |
| 26 | FLG | Flagstar Bank NA | Stock-Financials | 1.40% | -0.18% | +3.86% | |
| 27 | BANC | Banc Of California Inc | Stock-Other | 1.38% | -0.13% | -0.41% | |
| 28 | IRM | Iron Mountain Inc | Stock-Real Estate | 1.37% | -0.22% | -10.08% | |
| 29 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.35% | +0.11% | -1.61% | |
| 30 | AAPL | Apple Inc | Stock-Tech | 1.35% | +0.29% | +1.10% | |
| 31 | BWB | Bridgewater Bancshares Inc | Stock-Other | 1.30% | +0.06% | -0.04% | |
| 32 | OMF | Onemain Holdings Inc | Stock-Financials | 1.21% | -0.01% | -0.01% | |
| 33 | VFC | Vf CORP | Stock-Consumer Disc | 1.21% | +0.10% | +18.62% | |
| 34 | FXAIX | Fidelity 500 Index Fund | Stock-Other | 1.19% | -0.56% | -38.89% | |
| 35 | CAT | Caterpillar Inc | Stock-Industrials | 1.19% | -0.24% | — | |
| 36 | LEN | Lennar Corp-a | Stock-Consumer Disc | 1.12% | +0.08% | +10.22% | |
| 37 | GT | Goodyear Tire & Rubber Co | Stock-Consumer Disc | 1.12% | -0.58% | -19.44% | |
| 38 | BLDR | Builders Firstsource Inc | Stock-Industrials | 1.09% | +0.60% | +219.83% | |
| 39 | GEV | GE Vernova Inc | Stock-Industrials | 1.01% | -0.18% | -3.57% | |
| 40 | DE | Deere & Co | Stock-Industrials | 1.00% | +0.14% | — | |
| 41 | QCRH | Qcr Holdings Inc | Stock-Other | 0.97% | +0.08% | -0.17% | |
| 42 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.96% | +0.08% | -0.04% | |
| 43 | CASH | Pathward Financial Inc | Stock-Other | 0.95% | -0.12% | -0.01% | |
| 44 | FANG | Diamondback Energy Inc | Stock-Energy | 0.94% | +0.03% | -8.72% | |
| 45 | MYFW | First Western Financial Inc | Stock-Other | 0.93% | +0.02% | — | |
| 46 | DVN | Devon Energy CORP | Stock-Energy | 0.91% | +0.04% | -14.15% | |
| 47 | KMI | Kinder Morgan, Inc. | Stock-Energy | 0.89% | -0.01% | -3.89% | |
| 48 | PRUFX | T Rowe Pr Growth Stock-i | Stock-Other | 0.89% | +0.09% | — | |
| 49 | EOG | Eog Resources Inc | Stock-Energy | 0.87% | -0.01% | -14.38% | |
| 50 | MTH | Meritage Homes CORP | Stock-Consumer Disc | 0.86% | -0.13% | +6.61% |
1–50 of 99
Portfolio Performance
Performance for Q4 2026
-4.2%
Performance Last 4 Quarters
+12.4%
- Stdev
- +13.6%
- Beta
- +0.79
- Alpha
- +0.8%
- Max Drawdown
- -13.4%
- Annualized Perf
- +19%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.45
- Stutzer
- +0.39
- Treynor
- +0.23
- Sterling
- +1.04
- Calmar
- +1.42
- Information Ratio
- -0.39
- Tracking Error
- +9.9%
- Stdev Down
- +7.5%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +37.3%
- Worst 12 Months
- +4.7%
- Efficiency Ratio
- +0.55
- Sharpe
- +1.35
- Stdev Sectors
- +6.1%
- Skewness
- -0.38
- Kurtosis
- -0.43
- Upside Potential
- +4.01
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 99 | $150.4M | 22 | ||
| 2026 Q2 | 111 | $163.9M | 23 | ||
| 2026 Q1 | 107 | $146.1M | 22 | ||
| 2025 Q4 | 113 | $155.6M | 19 | ||
| 2025 Q3 | 114 | $151.3M | 25 | ||
| 2025 Q2 | 112 | $137.7M | 0 | ||
| 2025 Q1 | 109 | $132.7M | 100 | ||
| 2024 Q4 | 112 | $137.3M | 0 | ||
| 2024 Q3 | 113 | $143.3M | 0 | ||
| 2024 Q2 | 113 | $126.4M | 0 | 105969a262944t330231g | |
| 2024 Q1 | 114 | $128.6M | 0 | ||
| 2023 Q4 | 117 | $127.5M | 0 | ||
| 2023 Q3 | 109 | $110.7M | 0 | ||
| 2023 Q2 | 102 | $108.4M | 0 | ||
| 2023 Q1 | 100 | $104.6M | 0 | ||
| 2022 Q4 | 99 | $104.5M | 0 | ||
| 2022 Q3 | 99 | $95.9M | 0 | ||
| 2022 Q2 | 101 | $100.8M | 0 | ||
| 2022 Q1 | 110 | $120.5M | 0 | ||
| 2021 Q4 | 108 | $117.7M | 0 | ||
| 2021 Q3 | 112 | $115.4M | 0 | ||
| 2021 Q2 | 114 | $115.0M | 97 | ||
| 2021 Q1 | 112 | $108.2M | 27 | ||
| 2020 Q4 | 107 | $92.2M | 24 | ||
| 2020 Q3 | 105 | $80.4M | 92 | ||
| 2020 Q2 | 98 | $74.2M | 22 | ||
| 2020 Q1 | 94 | $61.4M | 40 | ||
| 2019 Q4 | 106 | $89.9M | 14 | ||
| 2019 Q3 | 104 | $82.7M | 12 | ||
| 2019 Q2 | 106 | $84.9M | 14 | ||
| 2019 Q1 | 110 | $84.1M | 20 | ||
| 2018 Q4 | 103 | $74.0M | 24 | ||
| 2018 Q3 | 102 | $86.4M | 96 | ||
| 2018 Q2 | 106 | $100.0M | 25 | ||
| 2018 Q1 | 105 | $96.4M | 16 | 105969a262944t3132152 | |
| 2017 Q4 | 101 | $102.5M | 16 | 162944t205969a387161c | |
| 2017 Q3 | 97 | $97.6M | 14 | 162944t205969a387161c | |
| 2017 Q2 | 100 | $92.1M | 20 | 162944t205969a387161c | |
| 2017 Q1 | 102 | $94.2M | 13 | ||
| 2016 Q4 | 102 | $95.5M | 18 | 1969490262944t387161c | |
| 2016 Q3 | 96 | $87.6M | 16 | 1969490262944t387161c | |
| 2016 Q2 | 97 | $84.0M | 16 | ||
| 2016 Q1 | 96 | $78.6M | 19 | ||
| 2015 Q4 | 96 | $79.2M | 10 | ||
| 2015 Q3 | 93 | $78.8M | 25 | ||
| 2015 Q2 | 104 | $99.2M | 12 | ||
| 2015 Q1 | 106 | $98.2M | 12 | ||
| 2014 Q4 | 109 | $100.2M | 19 | ||
| 2014 Q3 | 104 | $98.4M | 0 |
Holding changes this quarter
Sippican Capital Advisors's most significant position changes for 2026-09-30: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Oneok Inc (OKE); New buy: ; Sold out: Cf Industries Holdings Inc (CF).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +2.3% | NEW | New buy | |
| 2 | NFLX | Netflix Inc | +0.9% | +141.61% | Add |
| 3 | ORCL | Oracle CORP | +0.7% | +38.08% | Add |
| 4 | BLDR | Builders Firstsource Inc | +0.6% | +219.83% | Add |
| 5 | PFE | Pfizer Inc | +0.6% | +7.82% | Add |
| 6 | IREN | IREN Limited | +0.4% | +32.75% | Add |
| 7 | MRK | Merck & Co. Inc. | +0.4% | -1.21% | Trim |
| 8 | IBM | Intl Business Machines CORP | +0.4% | +44.58% | Add |
| 9 | CVX | Chevron CORP | +0.3% | -10.95% | Trim |
| 10 | AAPL | Apple Inc | +0.3% | +1.10% | Add |
| 11 | AMZN | Amazon.com Inc | +0.3% | +1.92% | Add |
| 12 | ✓ | +0.3% | NEW | New buy | |
| 13 | BMY | Bristol-myers Squibb Co | +0.2% | -6.11% | Trim |
| 14 | PEP | Pepsico Inc | +0.2% | +52.91% | Add |
| 15 | ABBV | Abbvie Inc | +0.2% | -3.26% | Trim |
| 16 | GOOG | Alphabet Inc-cl C | +0.2% | +2.18% | Add |
| 17 | MMM | 3m Co | +0.2% | -1.06% | Trim |
| 18 | MSFT | Microsoft CORP | +0.1% | +2.22% | Add |
| 19 | DE | Deere & Co | +0.1% | — | Unchanged |
| 20 | EGBN | Eagle Bancorp Inc | +0.1% | -0.14% | Trim |
| 21 | JPM | Jpmorgan Chase & Co | +0.1% | -1.61% | Trim |
| 22 | BRK-B | Berkshire Hathaway Inc-cl B | +0.1% | — | Unchanged |
| 23 | RTX | Rtx CORP | +0.1% | — | Unchanged |
| 24 | VFC | Vf CORP | +0.1% | +18.62% | Add |
| 25 | PRUFX | T Rowe Pr Growth Stock-i | +0.1% | — | Unchanged |
| 26 | DIS | Walt Disney Co/the | +0.1% | -0.01% | Trim |
| 27 | PAA | Plains All Amer Pipeline LP | +0.1% | — | Unchanged |
| 28 | LEN | Lennar Corp-a | +0.1% | +10.22% | Add |
| 29 | QCRH | Qcr Holdings Inc | +0.1% | -0.17% | Trim |
| 30 | LMT | Lockheed Martin CORP | +0.1% | -0.04% | Trim |
| 31 | SBLK | Star Bulk Carriers Corp. | +0.1% | -6.11% | Trim |
| 32 | BWB | Bridgewater Bancshares Inc | +0.1% | -0.04% | Trim |
| 33 | JNJ | Johnson & Johnson | +0.1% | — | Unchanged |
| 34 | ALRS | Alerus Financial CORP | +0.1% | -7.51% | Trim |
| 35 | V | Visa Inc-class A Shares | +0.1% | — | Unchanged |
| 36 | CUBI | Customers Bancorp Inc | 0% | -0.05% | Trim |
| 37 | DVN | Devon Energy CORP | 0% | -14.15% | Trim |
| 38 | TRV | Travelers Cos Inc/the | 0% | — | Unchanged |
| 39 | ABT | Abbott Laboratories | 0% | — | Unchanged |
| 40 | KO | Coca-cola Co/the | 0% | — | Unchanged |
| 41 | TTE | TotalEnergies SE | 0% | -0.80% | Trim |
| 42 | MVBF | Mvb Financial CORP | 0% | -2.39% | Trim |
| 43 | SM | Sm Energy Co | 0% | -20.25% | Trim |
| 44 | WSFS | Wsfs Financial CORP | 0% | — | Unchanged |
| 45 | FANG | Diamondback Energy Inc | 0% | -8.72% | Trim |
| 46 | CB | Chubb Limited | 0% | — | Unchanged |
| 47 | MYFW | First Western Financial Inc | 0% | — | Unchanged |
| 48 | BX | Blackstone Inc | 0% | — | Unchanged |
| 49 | EPD | Enterprise Products Partners | 0% | — | Unchanged |
| 50 | VFIAX | Vanguard 500 Index-adm | 0% | +0.36% | Add |
1–50 of 113
Filing History
FAQ
What is Sippican Capital Advisors and what type of investor is it?
Sippican Capital Advisors 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 $150.4M, spread across 99 disclosed positions.
What are Sippican Capital Advisors's largest equity positions?
Based on the latest 13F filing, Sippican Capital Advisors's top holdings by market value are:
1. Bancorp Inc/the (TBBK) — $7.0M (4.7%)
2. General Electric (GE) — $4.6M (3.1%)
3. Triumph Financial Inc (TFIN) — $3.9M (2.6%)
4. Alphabet Inc-cl C (GOOG) — $3.6M (2.4%)
5. Oracle CORP (ORCL) — $3.6M (2.4%)
What changes did Sippican Capital Advisors make in its most recent portfolio filing?
In the latest reported quarter, Sippican Capital Advisors made 86 notable position adjustments: 2 new positions were initiated, 20 existing holdings were added to, 50 positions were partially reduced, and 14 were completely exited. The largest of these moves: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Oneok Inc (OKE); New buy: ; Sold out: Cf Industries Holdings Inc (CF)
What sectors does Sippican Capital Advisors focus on?
Sippican Capital Advisors is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 20.0%
• Health Care: 17.0%
• Financials: 17.0%
• Consumer Discretionary: 13.6%
• Energy: 11.2%
• Information Technology: 10.2%
Investment Profile
Sippican Capital Advisors returned an annualized 19.0% over the trailing 36 months — outperforming the S&P 500 by 0.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.79 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
It has added to its IBM position over the past two quarters (+$2.6M, now $2.9M), while trimming FANG over the same stretch (-$636.6K, still holding $1.4M).
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