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Winter & Associates, Inc. Quarterly 13F Portfolio Update (Q2 2026)
Winter & Associates, Inc.CIK: 0002109063
Diversified strategySector-focusedMomentum follower
Total reported value
$133.1M
Reporting period: 2026-06-30 · Number of holdings: 85
Winter & Associates, Inc. disclosed 85 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $133.1M and a quarterly turnover rate of 52.5%.
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Personality snowflake
- Concentration
- 18.24
- Portfolio Stability
- 52.47
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 82.94
Winter & Associates, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.046 — mathematically equivalent to about 22 equally-sized positions, well below its 85 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 1.71), 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 19% 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.govAdd USTB
+79.2% $8.0M
Add SPHB
+70.9% $4.3M
Trim FNDA
-49.4% -$2.2M
Trim VXUS
-39.0% -$2.1M
Trim BND
-88.6% -$2.6M
Trim MDY
-42.2% -$2.0M
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 | USTB | Victoryshares Short-term Bon | ETF-Other | 13.53% | +4.74% | +79.19% | |
| 2 | COWZ | Pacer US Cash Cows 100 ETF | ETF-Other | 6.11% | +0.41% | +25.69% | |
| 3 | DFIV | Dimensional International Va | ETF-Other | 5.82% | +1.74% | +64.59% | |
| 4 | SPHB | Invesco S&p 500 High Beta Et | ETF-Large Cap & Growth | 5.76% | +2.79% | +70.88% | |
| 5 | VB | Vanguard Small-cap ETF | ETF-Other | 4.90% | +1.96% | +70.51% | |
| 6 | IWL | Ishares Russell Top 200 ETF | ETF-Other | 4.80% | +1.94% | +71.91% | |
| 7 | JPIB | Jpmorgan Intl Bnd ETF | ETF-Other | 4.54% | +1.60% | +77.67% | |
| 8 | AAPL | Apple Inc | Stock-Tech | 4.13% | -0.21% | -0.82% | |
| 9 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 3.59% | +0.53% | +9.34% | |
| 10 | VXUS | Vanguard Total Intl Stock | ETF-Other | 3.12% | -2.32% | -38.98% | |
| 11 | REZ | Ishars Res And Multi Reales | ETF-Other | 2.83% | +1.20% | +80.64% | |
| 12 | MDY | State Street Spdr S&p Midcap | ETF-Other | 2.76% | -2.19% | -42.23% | |
| 13 | NVDA | Nvidia CORP | Stock-Tech | 2.65% | -0.25% | -5.67% | |
| 14 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 2.60% | +0.89% | +59.74% | |
| 15 | STIP | Ishares 0-5 Year Tips Bond E | ETF-Other | 2.37% | +0.81% | +78.79% | |
| 16 | FNDA | Schwab Fndmntl US Sm Co ETF | ETF-Other | 2.34% | -2.32% | -49.41% | |
| 17 | DGRW | Wisdomtree U.s. Quality Divi | ETF-Other | 1.70% | -1.83% | -48.07% | |
| 18 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-Corp Bonds | 1.69% | +0.36% | +48.24% | |
| 19 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 1.59% | -0.09% | -2.80% | |
| 20 | USCI | United States Commodity Inde | ETF-Commodities | 1.42% | +0.36% | +62.43% | |
| 21 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.34% | +0.04% | — | |
| 22 | MMM | 3m Co | Stock-Industrials | 0.97% | -0.04% | — | |
| 23 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.82% | -0.03% | +0.57% | |
| 24 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 0.78% | -0.20% | -18.66% | |
| 25 | ESGV | Vanguard Esg US Stock ETF | ETF-Other | 0.75% | +0.51% | +213.44% | |
| 26 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.71% | -0.69% | -50.60% | |
| 27 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.56% | +0.02% | — | |
| 28 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 0.55% | -1.35% | -66.48% | |
| 29 | LRCX | Lam Research CORP | Stock-Tech | 0.49% | +0.19% | -3.19% | |
| 30 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 0.49% | -0.26% | -24.65% | |
| 31 | MSFT | Microsoft CORP | Stock-Tech | 0.49% | -0.06% | +2.36% | |
| 32 | IBM | Intl Business Machines CORP | Stock-Tech | 0.48% | -0.01% | +0.09% | |
| 33 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.47% | +0.01% | +0.69% | |
| 34 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.45% | -0.03% | +3.81% | |
| 35 | SPHD | Invesco S&p 500 High Dividen | ETF-Large Cap & Growth | 0.42% | -0.96% | -65.09% | |
| 36 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.40% | -0.14% | — | |
| 37 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.40% | +0.07% | +1.00% | |
| 38 | PSCC | Invesco S&p Smallcap Consume | ETF-Other | 0.37% | -0.16% | -28.33% | |
| 39 | STRL | Sterling Infrastructure Inc | Stock-Industrials | 0.36% | +0.16% | — | |
| 40 | MU | Micron Technology Inc | Stock-Tech | 0.35% | +0.35% | NEW | |
| 41 | ESML | Ishares Esg Aware Msci USA S | ETF-Other | 0.33% | +0.07% | +25.69% | |
| 42 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.33% | -0.06% | — | |
| 43 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.32% | +0.03% | -0.55% | |
| 44 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.32% | +0.06% | +0.10% | |
| 45 | WMT | Walmart Inc | Stock-Consumer Staples | 0.32% | -0.09% | +0.03% | |
| 46 | GLW | Corning Inc | Stock-Tech | 0.31% | +0.11% | +3.98% | |
| 47 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.31% | -0.01% | — | |
| 48 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.31% | -0.29% | -49.67% | |
| 49 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.30% | -0.06% | -5.04% | |
| 50 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.29% | -0.17% | -34.63% |
1–50 of 85
Portfolio Performance
Performance for Q3 2026
+1.7%
Performance Last 4 Quarters
+7.2%
- Stdev
- +13.3%
- Beta
- +0.7
- Alpha
- -2.6%
- Max Drawdown
- -0.8%
- Annualized Perf
- +14.8%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +2.27
- Stutzer
- +0.35
- Treynor
- +0.21
- Sterling
- —
- Calmar
- +18.78
- Information Ratio
- -1.64
- Tracking Error
- +6.1%
- Stdev Down
- +6.5%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.4
- Sharpe
- +1.1
- Stdev Sectors
- +16.7%
- Skewness
- -0.13
- Kurtosis
- -0.87
- Upside Potential
- +3.91
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Winter & Associates, Inc.'s most significant position changes for 2026-06-30: Sold out: Vanguard Total Intl Bond ETF (BNDX); Sold out: Ishares Core U.s. Aggregate (AGG); Sold out: Pimco 15+ Yr US Tips Indx (LTPZ); Sold out: Ishares 10+ Year Inv Gr CORP (IGLB); Sold out: Ishares Tips Bond ETF (TIP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | USTB | Victoryshares Short-term Bon | +4.7% | +79.19% | Add |
| 2 | SPHB | Invesco S&p 500 High Beta Et | +2.8% | +70.88% | Add |
| 3 | VB | Vanguard Small-cap ETF | +2% | +70.51% | Add |
| 4 | IWL | Ishares Russell Top 200 ETF | +1.9% | +71.91% | Add |
| 5 | DFIV | Dimensional International Va | +1.7% | +64.59% | Add |
| 6 | JPIB | Jpmorgan Intl Bnd ETF | +1.6% | +77.67% | Add |
| 7 | REZ | Ishars Res And Multi Reales | +1.2% | +80.64% | Add |
| 8 | VWO | Vanguard Ftse Emerging Marke | +0.9% | +59.74% | Add |
| 9 | STIP | Ishares 0-5 Year Tips Bond E | +0.8% | +78.79% | Add |
| 10 | QQQ | Invesco Qqq Trust Series 1 | +0.5% | +9.34% | Add |
| 11 | ESGV | Vanguard Esg US Stock ETF | +0.5% | +213.44% | Add |
| 12 | COWZ | Pacer US Cash Cows 100 ETF | +0.4% | +25.69% | Add |
| 13 | IGIB | Ishares 5-10y Inv Grade CORP | +0.4% | +48.24% | Add |
| 14 | USCI | United States Commodity Inde | +0.4% | +62.43% | Add |
| 15 | MU | Micron Technology Inc | +0.4% | NEW | New buy |
| 16 | ALAB | Astera Labs Inc | +0.3% | NEW | New buy |
| 17 | ESGE | Ishares Inc Ishares Esg Awar | +0.3% | NEW | New buy |
| 18 | AMD | Advanced Micro Devices | +0.3% | NEW | New buy |
| 19 | DFSI | Dimensional Int Sus Cor1 ETF | +0.3% | NEW | New buy |
| 20 | NULV | Nuveen Esg Large-cap Val ETF | +0.2% | NEW | New buy |
| 21 | INTC | Intel CORP | +0.2% | NEW | New buy |
| 22 | GEV | GE Vernova Inc | +0.2% | NEW | New buy |
| 23 | LRCX | Lam Research CORP | +0.2% | -3.19% | Trim |
| 24 | INOD | Innodata Inc | +0.2% | NEW | New buy |
| 25 | STRL | Sterling Infrastructure Inc | +0.2% | — | Unchanged |
| 26 | VTWG | Vanguard Russell 2000 Growth | +0.2% | NEW | New buy |
| 27 | JBL | Jabil Inc | +0.2% | NEW | New buy |
| 28 | GE | General Electric | +0.2% | NEW | New buy |
| 29 | TTC | Toro Co | +0.2% | NEW | New buy |
| 30 | CW | Curtiss-wright CORP | +0.2% | NEW | New buy |
| 31 | ASML | ASML Holding N.V. | +0.2% | NEW | New buy |
| 32 | GLW | Corning Inc | +0.1% | +3.98% | Add |
| 33 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +1.00% | Add |
| 34 | ESML | Ishares Esg Aware Msci USA S | +0.1% | +25.69% | Add |
| 35 | UNH | Unitedhealth Group Inc | +0.1% | +0.10% | Add |
| 36 | TSLA | Tesla Inc | 0% | — | Unchanged |
| 37 | MNST | Monster Beverage CORP | 0% | +5.72% | Add |
| 38 | LLY | Eli Lilly & Co | 0% | -0.55% | Trim |
| 39 | GOOGL | Alphabet Inc-cl A | 0% | — | Unchanged |
| 40 | XLI | Ss Industrial Select Sector | 0% | +14.96% | Add |
| 41 | GOOG | Alphabet Inc-cl C | 0% | +0.69% | Add |
| 42 | DHY | Credit Suisse High Yield Cre | — | — | Unchanged |
| 43 | IBM | Intl Business Machines CORP | 0% | +0.09% | Add |
| 44 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | — | Unchanged |
| 45 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 46 | V | Visa Inc-class A Shares | 0% | — | Unchanged |
| 47 | PGR | Progressive CORP | 0% | — | Unchanged |
| 48 | HD | Home Depot Inc | 0% | — | Unchanged |
| 49 | NMG | Nouveau Monde Graphite Inc | 0% | — | Unchanged |
| 50 | AMZN | Amazon.com Inc | 0% | +0.57% | Add |
1–50 of 99
Filing History
FAQ
What is Winter & Associates, Inc. and what type of investor is it?
Winter & Associates, 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $133.1M, spread across 85 disclosed positions.
What are Winter & Associates, Inc.'s largest equity positions?
Based on the latest 13F filing, Winter & Associates, Inc.'s top holdings by market value are:
1. Victoryshares Short-term Bon (USTB) — $18.0M (13.5%)
2. Pacer US Cash Cows 100 ETF (COWZ) — $8.1M (6.1%)
3. Dimensional International Va (DFIV) — $7.7M (5.8%)
4. Invesco S&p 500 High Beta Et (SPHB) — $7.7M (5.8%)
5. Vanguard Small-cap ETF (VB) — $6.5M (4.9%)
What changes did Winter & Associates, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Winter & Associates, Inc. made 84 notable position adjustments: 15 new positions were initiated, 26 existing holdings were added to, 29 positions were partially reduced, and 14 were completely exited. The largest of these moves: Sold out: Vanguard Total Intl Bond ETF (BNDX); Sold out: Ishares Core U.s. Aggregate (AGG); Sold out: Pimco 15+ Yr US Tips Indx (LTPZ); Sold out: Ishares 10+ Year Inv Gr CORP (IGLB); Sold out: Ishares Tips Bond ETF (TIP)
What sectors does Winter & Associates, Inc. focus on?
Winter & Associates, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 55.6%
• Consumer Discretionary: 12.3%
• Industrials: 10.5%
• Communication Services: 7.1%
• Health Care: 6.3%
• Financials: 3.7%
* 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.
Investment Profile
Winter & Associates, Inc. returned an annualized 14.8% over the trailing 6 months — underperforming the S&P 500 by 2.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.70 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 55.6% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 52 over the past 2 quarters — a shift toward more active trading.
It has added to its USTB position over the past two quarters (+$11.3M, now $18.0M), while trimming BND over the same stretch (-$3.8M, still holding $332.1K).
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