CIK: 0001702698
Total reported value
$53.8M
Reporting period: 2020-09-30 · Number of holdings: 26
Stumpf Capital Management LLC disclosed 26 holdings in its latest 13F filing for the period ending 2020-09-30, with total reported value of $53.8M and a quarterly turnover rate of 28.8%.
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Stumpf Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.284 — mathematically equivalent to about 4 equally-sized positions, well below its 26 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 2.58), 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 2.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Add T
+194.7% $5.6M
Trim WFC
-10.5% -$5.0M
Trim CVX
-0.5% -$3.6M
Trim VOD
0.0% -$273.0K
Add CTLEUR
+0.6% $20.0K
Trim GSK
0.0% -$150.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | WFC | Wells Fargo & Co | Stock-Financials | 42.56% | -7.14% | -10.48% | |
| 2 | CVX | Chevron CORP | Stock-Energy | 27.10% | -5.29% | -0.48% | |
| 3 | T | At&t INC | Stock-Comm Services | 16.22% | +10.62% | +194.67% | |
| 4 | GSK | GSK plc ADRhedged | Stock-Healthcare | 3.34% | -0.13% | — | |
| 5 | CTLEUR | Centurylink INC | Stock-Other | 2.92% | +0.15% | +0.65% | |
| 6 | VOD | Vodafone Group Plc-sp Adr | Stock-Comm Services | 2.71% | -0.38% | — | |
| 7 | MO | Altria Group INC | Stock-Consumer Staples | 1.38% | +0.04% | — | |
| 8 | DOW | Dow INC | Stock-Materials | 0.77% | +0.13% | — | |
| 9 | BA | Boeing Co/the | Stock-Industrials | 0.48% | -0.03% | — | |
| 10 | XOM | Exxon Mobil CORP | Stock-Energy | 0.46% | -0.04% | +16.00% | |
| 11 | PM | Philip Morris International | Stock-Consumer Staples | 0.38% | +0.38% | NEW | |
| 12 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.29% | +0.29% | NEW | |
| 13 | DAL | Delta Air Lines INC | Stock-Industrials | 0.25% | +0.25% | NEW | |
| 14 | NCLH | Norwegian Cruise Line Holdings Ltd. | Stock-Consumer Disc | 0.25% | +0.25% | NEW | |
| 15 | CFR | Cullen/frost Bankers INC | Stock-Financials | 0.17% | +0.17% | NEW | |
| 16 | BP | Bp Plc-spons Adr | Stock-Energy | 0.13% | +0.13% | NEW | |
| 17 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.10% | +0.10% | NEW | |
| 18 | ✓ | Abbvie INC | Stock-Other | 0.10% | +0.10% | NEW | |
| 19 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.10% | +0.10% | NEW | |
| 20 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 0.08% | +0.08% | NEW | |
| 21 | IBB | Ishares Biotechnology ETF | ETF-Tech | 0.06% | +0.06% | NEW | |
| 22 | UAL | United Airlines Holdings INC | Stock-Industrials | 0.06% | +0.06% | NEW | |
| 23 | NFLX | Netflix INC | Stock-Comm Services | 0.05% | +0.05% | NEW | |
| 24 | AAPL | Apple INC | Stock-Tech | 0.02% | +0.02% | NEW | |
| 25 | F | Ford Motor Co | Stock-Consumer Disc | 0.02% | +0.02% | NEW | |
| 26 | BYND | Beyond Meat INC | Stock-Consumer Staples | 0.01% | +0.01% | NEW |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2020-09-30 | 26 | $53.8M | 29 | |
| 2020-06-30 | 10 | $56.0M | 22 | |
| 2020-03-31 | 11 | $58.3M | 76 | |
| 2019-12-31 | 14 | $130.1M | 14 | |
| 2019-09-30 | 13 | $115.6M | 6 | |
| 2019-06-30 | 12 | $117.1M | 28 | |
| 2019-03-31 | 13 | $96.8M | 15 | |
| 2018-12-31 | 28 | $95.7M | 13 | |
| 2018-09-30 | 37 | $108.9M | 4 | |
| 2018-06-30 | 41 | $107.4M | 8 | |
| 2018-03-31 | 41 | $100.0M | 17 | |
| 2017-12-31 | 43 | $108.3M | 0 |
Stumpf Capital Management LLC's most significant position changes for 2020-09-30: New buy: Philip Morris International (PM); New buy: Amazon.com INC (AMZN); New buy: Delta Air Lines INC (DAL); New buy: Norwegian Cruise Line Holdings Ltd. (NCLH); New buy: Cullen/frost Bankers INC (CFR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | T | At&t INC | +10.6% | +194.67% | Add |
| 2 | CTLEUR | Centurylink INC | +0.2% | +0.65% | Add |
| 3 | DOW | Dow INC | +0.1% | — | Unchanged |
| 4 | MO | Altria Group INC | 0% | — | Unchanged |
| 5 | BA | Boeing Co/the | 0% | — | Unchanged |
| 6 | XOM | Exxon Mobil CORP | 0% | +16.00% | Add |
| 7 | GSK | GSK plc ADRhedged | -0.1% | — | Unchanged |
| 8 | VOD | Vodafone Group Plc-sp Adr | -0.4% | — | Unchanged |
| 9 | CVX | Chevron CORP | -5.3% | -0.48% | Trim |
| 10 | WFC | Wells Fargo & Co | -7.1% | -10.48% | Trim |
| 11 | PM | Philip Morris International | — | NEW | New buy |
| 12 | AMZN | Amazon.com INC | — | NEW | New buy |
| 13 | DAL | Delta Air Lines INC | — | NEW | New buy |
| 14 | NCLH | Norwegian Cruise Line Holdings Ltd. | — | NEW | New buy |
| 15 | CFR | Cullen/frost Bankers INC | — | NEW | New buy |
| 16 | BP | Bp Plc-spons Adr | — | NEW | New buy |
| 17 | SBUX | Starbucks CORP | — | NEW | New buy |
| 18 | ✓ | Abbvie INC | — | NEW | New buy |
| 19 | MRK | Merck & Co. INC. | — | NEW | New buy |
| 20 | XBI | Ss Spdr S&p Biotech ETF | — | NEW | New buy |
| 21 | IBB | Ishares Biotechnology ETF | — | NEW | New buy |
| 22 | UAL | United Airlines Holdings INC | — | NEW | New buy |
| 23 | NFLX | Netflix INC | — | NEW | New buy |
| 24 | AAPL | Apple INC | — | NEW | New buy |
| 25 | F | Ford Motor Co | — | NEW | New buy |
| 26 | BYND | Beyond Meat INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-06 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-20 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-12-06 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-20 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-29 | 13F-HR | View on EDGAR |
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