CIK: 0001671716
Total reported value
$1.2B
Reporting period: 2025-09-30 · Number of holdings: 233
Bristlecone Advisors, LLC disclosed 233 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $1.2B and a quarterly turnover rate of 28.5%.
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Bristlecone Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.026 — mathematically equivalent to about 38 equally-sized positions, well below its 233 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 2.25), 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 39% 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.
Trim USFR
-32.8% -$19.9M
Add NVDA
-1.0% $15.9M
Add IVV
+3.7% $14.6M
Trim VTI
-92.2% -$9.3M
Add SPDW
+2.5% $8.2M
Trim AMZN
-22.3% -$8.5M
Showing top 200 holdings (of 233 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 9.80% | -0.27% | -28.42% | |
| 2 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 5.60% | +1.32% | +3.69% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 4.05% | +1.39% | -1.05% | |
| 4 | AAPL | Apple INC | Stock-Tech | 3.78% | — | -10.56% | |
| 5 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 3.49% | +0.74% | +2.50% | |
| 6 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 3.23% | -0.12% | -1.08% | |
| 7 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 2.72% | +0.36% | +1.37% | |
| 8 | SCHX | Schwab US Large-cap ETF | ETF-Other | 2.70% | +0.43% | -0.55% | |
| 9 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.24% | -0.64% | -22.32% | |
| 10 | VV | Vanguard Large-cap ETF | ETF-Other | 2.15% | +0.36% | +0.20% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.11% | +0.53% | -2.02% | |
| 12 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 2.05% | -0.16% | -0.57% | |
| 13 | SPAB | Ss Spdr P Agg Bond ETF | ETF-Other | 1.90% | — | -3.01% | |
| 14 | BND | Vanguard Total Bond Market | ETF-Other | 1.88% | +0.41% | +24.35% | |
| 15 | XLK | Ss Technology Select Sector | ETF-Tech | 1.81% | +0.50% | +0.26% | |
| 16 | AJG | Arthur J Gallagher & Co | Stock-Financials | 1.75% | -0.17% | — | |
| 17 | DLN | Wisdomtree US Largecap Divid | ETF-Other | 1.65% | +0.23% | +1.41% | |
| 18 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.62% | +0.32% | +5.15% | |
| 19 | JPST | Jpmorgan Ultra-short Income | ETF-Other | 1.46% | +0.58% | +24.80% | |
| 20 | VB | Vanguard Small-cap ETF | ETF-Other | 1.36% | +0.20% | +1.13% | |
| 21 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.34% | +0.23% | +2.48% | |
| 22 | VUG | Vanguard Growth ETF | ETF-Other | 1.33% | +0.31% | +0.37% | |
| 23 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.33% | +0.30% | +1.67% | |
| 24 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 1.32% | — | +0.10% | |
| 25 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.22% | — | +0.69% | |
| 26 | SCHF | Schwab Intl Equity ETF | ETF-Other | 1.10% | — | -6.13% | |
| 27 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.94% | +0.26% | -0.41% | |
| 28 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.91% | — | -2.18% | |
| 29 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.83% | — | -1.98% | |
| 30 | TSLA | Tesla INC | Stock-Consumer Disc | 0.81% | +0.22% | -5.27% | |
| 31 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.78% | — | -0.60% | |
| 32 | SPYG | Ss Spdr P S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.71% | +0.23% | +9.46% | |
| 33 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.71% | — | +3.31% | |
| 34 | GSST | Goldman Sachs Ultra Short Bo | ETF-Commodities | 0.66% | — | +7.13% | |
| 35 | V | Visa Inc-class A Shares | Stock-Financials | 0.63% | — | -2.56% | |
| 36 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.61% | — | -3.30% | |
| 37 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.60% | — | -0.04% | |
| 38 | EFA | Ishares Msci Eafe ETF | ETF-Other | 0.58% | — | +0.32% | |
| 39 | NFLX | Netflix INC | Stock-Comm Services | 0.57% | — | +3.52% | |
| 40 | GCOR | Goldman Sachs Access US Agg | ETF-Commodities | 0.55% | — | +13.59% | |
| 41 | HD | Home Depot INC | Stock-Consumer Disc | 0.54% | — | -2.79% | |
| 42 | ✓ | Fortinet INC | Stock-Other | 0.52% | +0.52% | NEW | |
| 43 | USFR | Wisdomtree Floating Rate Tre | ETF-Other | 0.48% | -1.61% | -32.83% | |
| 44 | TRV | Travelers Cos Inc/the | Stock-Financials | 0.45% | — | -3.36% | |
| 45 | LRCX | Lam Research CORP | Stock-Tech | 0.44% | — | -3.27% | |
| 46 | SOXX | Ishares Semiconductor ETF | ETF-Other | 0.44% | — | -0.24% | |
| 47 | ITA | Ishares U.s. Aerospace & Def | ETF-Other | 0.41% | — | -0.67% | |
| 48 | NKE | Nike INC -cl B | Stock-Consumer Disc | 0.41% | -0.13% | -12.52% | |
| 49 | SPEM | State Street Sp Ptf Em ETF | ETF-Other | 0.41% | — | +0.86% | |
| 50 | AMGN | Amgen INC | Stock-Healthcare | 0.39% | — | -2.46% |
Performance for Q3 2026
+3.2%
Performance Last 4 Quarters
+19.6%
Based on 65% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2025-09-30 | 233 | $1.2B | 28 | |
| 2025-06-30 | 296 | $1.2B | 0 | |
| 2025-03-31 | 380 | $1.2B | 100 | |
| 2024-12-31 | 376 | $1.3B | 0 | |
| 2024-09-30 | 365 | $1.2B | 0 | |
| 2024-06-30 | 291 | $1.2B | 0 | |
| 2024-03-31 | 270 | $1.1B | 0 | |
| 2023-12-31 | 272 | $989.6M | 0 | |
| 2023-09-30 | 260 | $889.9M | 0 | |
| 2023-06-30 | 278 | $995.1M | 0 | |
| 2023-03-31 | 353 | $911.8M | 0 | |
| 2022-12-31 | 256 | $815.7M | 0 | |
| 2022-09-30 | 242 | $766.0M | 0 | |
| 2022-06-30 | 248 | $809.8M | 0 | |
| 2022-03-31 | 234 | $814.4M | 0 | |
| 2021-12-31 | 236 | $833.1M | 0 | |
| 2021-09-30 | 221 | $764.0M | 0 | |
| 2021-06-30 | 220 | $739.0M | 95 | |
| 2021-03-31 | 214 | $661.9M | 11 | |
| 2020-12-31 | 201 | $628.6M | 17 | |
| 2020-09-30 | 201 | $548.2M | 17 | |
| 2020-06-30 | 165 | $494.0M | 36 | |
| 2020-03-31 | 151 | $419.4M | 42 | |
| 2019-12-31 | 200 | $498.1M | 26 | |
| 2019-09-30 | 144 | $410.7M | 21 | |
| 2019-06-30 | 178 | $421.3M | 24 | |
| 2019-03-31 | 98 | $357.1M | 22 | |
| 2018-12-31 | 142 | $333.2M | 20 | |
| 2018-09-30 | 155 | $397.4M | 33 | |
| 2018-06-30 | 141 | $300.4M | 12 | |
| 2018-03-31 | 138 | $297.6M | 24 | |
| 2017-12-31 | 152 | $315.4M | 12 | |
| 2017-09-30 | 311 | $308.0M | 15 | |
| 2017-06-30 | 154 | $295.0M | 11 | |
| 2017-03-31 | 159 | $286.3M | 13 | |
| 2016-12-31 | 162 | $280.5M | 12 | |
| 2016-09-30 | 163 | $277.6M | 27 | |
| 2016-06-30 | 164 | $271.0M | 37 | |
| 2016-03-31 | 169 | $252.6M | 25 | |
| 2015-12-31 | 176 | $236.6M | 0 |
Bristlecone Advisors, LLC's most significant position changes for 2025-09-30: Sold out: Fortinet INC (FTNT); New buy: Fortinet INC; New buy: Rtx Corporation; Sold out: Rtx CORP (RTX); Sold out: Berkshire Hathaway Inc-cl A (BRK-A).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +1.4% | -1.05% | Trim |
| 2 | IVV | Ishares Core S&p 500 ETF | +1.3% | +3.69% | Add |
| 3 | SPDW | Ste Str Spdr Pt Dw EU ETF | +0.7% | +2.50% | Add |
| 4 | JPST | Jpmorgan Ultra-short Income | +0.6% | +24.80% | Add |
| 5 | GOOGL | Alphabet Inc-cl A | +0.5% | -2.02% | Trim |
| 6 | XLK | Ss Technology Select Sector | +0.5% | +0.26% | Trim |
| 7 | SCHX | Schwab US Large-cap ETF | +0.4% | -0.55% | Trim |
| 8 | BND | Vanguard Total Bond Market | +0.4% | +24.35% | Add |
| 9 | VV | Vanguard Large-cap ETF | +0.4% | +0.20% | Trim |
| 10 | IJH | Ishares Core S&p Midcap ETF | +0.4% | +1.37% | Add |
| 11 | IJR | Ishares Core S&p Small-cap E | +0.3% | +5.15% | Add |
| 12 | VUG | Vanguard Growth ETF | +0.3% | +0.37% | Trim |
| 13 | VEA | Vanguard Ftse Developed ETF | +0.3% | +1.67% | Add |
| 14 | PLTR | Palantir Technologies Inc-a | +0.3% | -0.41% | Trim |
| 15 | SPYG | Ss Spdr P S&p 500 Growth ETF | +0.2% | +9.46% | Add |
| 16 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.2% | +2.48% | Trim |
| 17 | DLN | Wisdomtree US Largecap Divid | +0.2% | +1.41% | Add |
| 18 | TSLA | Tesla INC | +0.2% | -5.27% | Trim |
| 19 | VB | Vanguard Small-cap ETF | +0.2% | +1.13% | Add |
| 20 | MBB | Ishares Mbs ETF | +0.2% | +26.95% | Add |
| 21 | AGG | Ishares Core U.s. Aggregate | -0.1% | -1.08% | Trim |
| 22 | NKE | Nike INC -cl B | -0.1% | -12.52% | Trim |
| 23 | VTEB | Vanguard Tax-exempt Bond ETF | -0.2% | -7.22% | Trim |
| 24 | MRK | Merck & Co. INC. | -0.2% | -9.74% | Trim |
| 25 | COST | Costco Wholesale CORP | -0.2% | -0.57% | Trim |
| 26 | AJG | Arthur J Gallagher & Co | -0.2% | — | Trim |
| 27 | PYPL | Paypal Holdings INC | -0.2% | -26.55% | Trim |
| 28 | CRM | Salesforce INC | -0.2% | -38.35% | Trim |
| 29 | ALB | Albemarle CORP | -0.2% | -50.60% | Trim |
| 30 | ADBE | Adobe INC | -0.2% | -21.86% | Trim |
| 31 | SBUX | Starbucks CORP | -0.2% | -3.24% | Trim |
| 32 | UNH | Unitedhealth Group INC | -0.2% | -6.72% | Trim |
| 33 | UPS | United Parcel Service-cl B | -0.2% | -18.98% | Trim |
| 34 | KEL | Kellanova | -0.2% | -14.28% | Trim |
| 35 | CMCSA | Comcast Corp-class A | -0.2% | -15.01% | Trim |
| 36 | MSFT | Microsoft CORP | -0.3% | -28.42% | Trim |
| 37 | PFE | Pfizer INC | -0.3% | -34.67% | Trim |
| 38 | VGT | Vanguard Info Tech ETF | -0.3% | -63.79% | Trim |
| 39 | GOOG | Alphabet Inc-cl C | -0.5% | -9.34% | Trim |
| 40 | AMZN | Amazon.com INC | -0.6% | -22.32% | Trim |
| 41 | VTI | Vanguard Total Stock Mkt ETF | -0.8% | -92.18% | Trim |
| 42 | USFR | Wisdomtree Floating Rate Tre | -1.6% | -32.83% | Trim |
| 43 | FTNT | Fortinet INC | — | EXIT | Sold out |
| 44 | ✓ | Fortinet INC | — | NEW | New buy |
| 45 | ✓ | Rtx Corporation | — | NEW | New buy |
| 46 | RTX | Rtx CORP | — | EXIT | Sold out |
| 47 | BRK-A | Berkshire Hathaway Inc-cl A | — | EXIT | Sold out |
| 48 | DG | Dollar General CORP | — | EXIT | Sold out |
| 49 | TTD | Trade Desk Inc/the -class A | — | EXIT | Sold out |
| 50 | TSN | Tyson Foods Inc-cl A | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2025-09-30 | 2025-10-24 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-04 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-29 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-24 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-25 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-22 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-25 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-16 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-03 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-27 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-25 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-22 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-19 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-19 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-21 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-30 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-25 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-20 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-16 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-16 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-21 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-28 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-19 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-23 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-15 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-22 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-31 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-24 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-30 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-20 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-26 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-23 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-12 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-12 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-10 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-05-05 | 13F-HR | View on EDGAR |
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