CIK: 0001803227
Total reported value
$834.9M
Reporting period: 2026-03-31 · Number of holdings: 170
MATTERN CAPITAL MANAGEMENT, LLC disclosed 170 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $834.9M and a quarterly turnover rate of 23.5%.
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Mattern Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.011 — mathematically equivalent to about 89 equally-sized positions, well below its 170 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.95), 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.
Trim EMR
-98.0% -$10.1M
Add WM
+780.0% $8.7M
Trim TGT
-98.1% -$8.4M
Trim WMT
-38.4% -$5.0M
Add PSX
-2.0% $4.5M
Trim ADI
-44.1% -$4.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 2.36% | — | +1.13% | |
| 2 | PSX | Phillips 66 | Stock-Energy | 1.93% | +0.55% | -2.05% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 1.83% | -0.20% | +16.05% | |
| 4 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.72% | +0.23% | -1.17% | |
| 5 | COR | Cencora INC | Stock-Healthcare | 1.58% | — | -1.33% | |
| 6 | GWW | Ww Grainger INC | Stock-Industrials | 1.57% | — | -1.85% | |
| 7 | WEC | Wec Energy Group INC | Stock-Utilities | 1.52% | +0.46% | +29.14% | |
| 8 | NEE | Nextera Energy INC | Stock-Utilities | 1.49% | +0.19% | -2.30% | |
| 9 | CMS | Cms Energy CORP | Stock-Utilities | 1.48% | +0.48% | +32.27% | |
| 10 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 1.47% | — | -2.50% | |
| 11 | AFL | Aflac INC | Stock-Financials | 1.45% | — | +1.58% | |
| 12 | LHX | L3harris Technologies INC | Stock-Industrials | 1.44% | — | -5.13% | |
| 13 | LIN | Linde plc | Stock-Materials | 1.43% | +0.21% | -0.87% | |
| 14 | AWK | American Water Works Co INC | Stock-Utilities | 1.43% | +0.44% | +36.74% | |
| 15 | CB | Chubb Limited | Stock-Financials | 1.41% | — | -0.70% | |
| 16 | AVGO | Broadcom INC | Stock-Tech | 1.38% | -0.16% | -1.47% | |
| 17 | GD | General Dynamics CORP | Stock-Industrials | 1.36% | — | -0.91% | |
| 18 | ATO | Atmos Energy CORP | Stock-Utilities | 1.32% | — | +2.02% | |
| 19 | WMT | Walmart INC | Stock-Consumer Staples | 1.31% | -0.57% | -38.39% | |
| 20 | ABT | Abbott Laboratories | Stock-Healthcare | 1.30% | +0.25% | +48.78% | |
| 21 | MSI | Motorola Solutions INC | Stock-Tech | 1.28% | +1.28% | NEW | |
| 22 | UNH | Unitedhealth Group INC | Stock-Healthcare | 1.26% | +0.24% | +48.43% | |
| 23 | CEG | Constellation Energy | Stock-Utilities | 1.24% | +0.25% | +57.03% | |
| 24 | ROP | Roper Technologies INC | Stock-Tech | 1.23% | +0.26% | +56.91% | |
| 25 | BR | Broadridge Financial Solutio | Stock-Tech | 1.22% | — | +41.37% | |
| 26 | FDS | Factset Research Systems INC | Stock-Financials | 1.21% | +0.17% | +53.69% | |
| 27 | ADP | Automatic Data Processing | Stock-Tech | 1.20% | — | +35.35% | |
| 28 | INTU | Intuit INC | Stock-Tech | 1.20% | +0.22% | +84.38% | |
| 29 | BLK | Blackrock INC | Stock-Financials | 1.20% | — | -0.20% | |
| 30 | NJR | New Jersey Resources CORP | Stock-Utilities | 1.18% | +0.19% | -0.66% | |
| 31 | PAYX | Paychex INC | Stock-Tech | 1.18% | +0.21% | +45.81% | |
| 32 | TT | Trane Technologies plc | Stock-Industrials | 1.18% | +1.18% | NEW | |
| 33 | WM | Waste Management INC | Stock-Industrials | 1.17% | +1.05% | +779.95% | |
| 34 | PLD | Prologis INC | Stock-Real Estate | 1.15% | — | -0.92% | |
| 35 | ACN | Accenture plc | Stock-Tech | 1.14% | — | +33.61% | |
| 36 | ECL | Ecolab INC | Stock-Materials | 1.13% | — | -0.72% | |
| 37 | SHW | Sherwin-williams Co/the | Stock-Materials | 1.12% | — | +0.69% | |
| 38 | BRO | Brown & Brown INC | Stock-Financials | 1.11% | -0.18% | +3.86% | |
| 39 | SPGI | S&p Global INC | Stock-Financials | 1.11% | -0.19% | +4.03% | |
| 40 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.11% | — | +0.12% | |
| 41 | ITW | Illinois Tool Works | Stock-Industrials | 1.11% | — | -0.49% | |
| 42 | ICE | Intercontinental Exchange In | Stock-Financials | 1.10% | — | -1.91% | |
| 43 | PEP | Pepsico INC | Stock-Consumer Staples | 1.10% | — | +0.99% | |
| 44 | XYL | Xylem INC | Stock-Industrials | 1.08% | — | +3.33% | |
| 45 | HD | Home Depot INC | Stock-Consumer Disc | 1.07% | — | +0.26% | |
| 46 | TSCO | Tractor Supply Company | Stock-Consumer Disc | 1.07% | — | +1.73% | |
| 47 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 1.06% | — | -1.28% | |
| 48 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.06% | -0.18% | -1.51% | |
| 49 | SYK | Stryker CORP | Stock-Healthcare | 1.05% | — | +0.80% | |
| 50 | CTAS | Cintas CORP | Stock-Industrials | 1.05% | — | +1.43% |
Performance for Q3 2026
+3.7%
Performance Last 4 Quarters
+11.4%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 170 | $834.9M | 24 | |
| 2025-12-31 | 170 | $846.9M | 11 | |
| 2025-09-30 | 172 | $850.6M | 20 | |
| 2025-06-30 | 170 | $832.4M | 0 | |
| 2025-03-31 | 163 | $785.4M | 100 | |
| 2024-12-31 | 160 | $767.4M | 0 | |
| 2024-09-30 | 156 | $794.6M | 0 | |
| 2024-06-30 | 157 | $723.8M | 0 | |
| 2024-03-31 | 157 | $736.5M | 0 | |
| 2023-12-31 | 136 | $687.9M | 0 | |
| 2023-09-30 | 135 | $618.2M | 0 | |
| 2023-06-30 | 134 | $616.1M | 0 | |
| 2023-03-31 | 120 | $566.9M | 0 | |
| 2022-12-31 | 120 | $540.8M | 0 | |
| 2022-09-30 | 118 | $480.0M | 0 | |
| 2022-06-30 | 118 | $505.7M | 0 | |
| 2022-03-31 | 122 | $559.3M | 0 | |
| 2021-12-31 | 117 | $571.7M | 0 | |
| 2021-09-30 | 114 | $506.6M | 0 | |
| 2021-06-30 | 116 | $505.8M | 96 | |
| 2021-03-31 | 109 | $462.4M | 100 | |
| 2020-12-31 | 105 | $417.3M | 0 | |
| 2020-09-30 | 102 | $382.7M | 14 | |
| 2020-06-30 | 100 | $344.6M | 33 | |
| 2020-03-31 | 102 | $293.9M | 34 | |
| 2019-12-31 | 99 | $361.5M | 0 |
Mattern Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Motorola Solutions INC (MSI); New buy: Trane Technologies plc (TT); Sold out: Air Products & Chemicals INC (APD); Sold out: Brown-forman Corp-class B (BF-B); New buy: Wisdomtree Floating Rate Tre (USFR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | WM | Waste Management INC | +1.1% | +779.95% | Add |
| 2 | PSX | Phillips 66 | +0.6% | -2.05% | Trim |
| 3 | CMS | Cms Energy CORP | +0.5% | +32.27% | Add |
| 4 | WEC | Wec Energy Group INC | +0.5% | +29.14% | Add |
| 5 | AWK | American Water Works Co INC | +0.4% | +36.74% | Add |
| 6 | ROP | Roper Technologies INC | +0.3% | +56.91% | Add |
| 7 | CEG | Constellation Energy | +0.3% | +57.03% | Add |
| 8 | ABT | Abbott Laboratories | +0.3% | +48.78% | Add |
| 9 | UNH | Unitedhealth Group INC | +0.2% | +48.43% | Add |
| 10 | COST | Costco Wholesale CORP | +0.2% | -1.17% | Trim |
| 11 | INTU | Intuit INC | +0.2% | +84.38% | Add |
| 12 | PAYX | Paychex INC | +0.2% | +45.81% | Add |
| 13 | LIN | Linde plc | +0.2% | -0.87% | Trim |
| 14 | NJR | New Jersey Resources CORP | +0.2% | -0.66% | Trim |
| 15 | NEE | Nextera Energy INC | +0.2% | -2.30% | Trim |
| 16 | FDS | Factset Research Systems INC | +0.2% | +53.69% | Add |
| 17 | JKHY | Jack Henry & Associates INC | -0.1% | +0.20% | Add |
| 18 | NKE | Nike INC -cl B | -0.1% | +2.68% | Add |
| 19 | BDX | Becton Dickinson And Co | -0.2% | +2.36% | Add |
| 20 | AVGO | Broadcom INC | -0.2% | -1.47% | Trim |
| 21 | TSLA | Tesla INC | -0.2% | -54.18% | Trim |
| 22 | LLY | Eli Lilly & Co | -0.2% | -1.51% | Trim |
| 23 | BRO | Brown & Brown INC | -0.2% | +3.86% | Add |
| 24 | JNJ | Johnson & Johnson | -0.2% | -28.59% | Trim |
| 25 | TXN | Texas Instruments INC | -0.2% | -26.46% | Trim |
| 26 | SPGI | S&p Global INC | -0.2% | +4.03% | Add |
| 27 | MSFT | Microsoft CORP | -0.2% | +16.05% | Add |
| 28 | MKC | Mccormick & Co-non Vtg Shrs | -0.2% | +5.10% | Add |
| 29 | APH | Amphenol Corp-cl A | -0.2% | -16.45% | Trim |
| 30 | PH | Parker Hannifin CORP | -0.3% | -22.67% | Trim |
| 31 | SHY | Ishares 1-3 Year Treasury Bo | -0.3% | -89.79% | Trim |
| 32 | O | Realty Income CORP | -0.3% | -34.11% | Trim |
| 33 | FRT | Federal Realty Invs Trust | -0.3% | -33.09% | Trim |
| 34 | AMGN | Amgen INC | -0.3% | -30.91% | Trim |
| 35 | CSCO | Cisco Systems INC | -0.4% | -33.39% | Trim |
| 36 | ADI | Analog Devices INC | -0.5% | -44.06% | Trim |
| 37 | WMT | Walmart INC | -0.6% | -38.39% | Trim |
| 38 | TGT | Target CORP | -1% | -98.10% | Trim |
| 39 | EMR | Emerson Electric Co | -1.2% | -97.99% | Trim |
| 40 | MSI | Motorola Solutions INC | — | NEW | New buy |
| 41 | TT | Trane Technologies plc | — | NEW | New buy |
| 42 | APD | Air Products & Chemicals INC | — | EXIT | Sold out |
| 43 | BF-B | Brown-forman Corp-class B | — | EXIT | Sold out |
| 44 | USFR | Wisdomtree Floating Rate Tre | — | NEW | New buy |
| 45 | TFLO | Ishares Treasury Floating Ra | — | NEW | New buy |
| 46 | ADBE | Adobe INC | — | EXIT | Sold out |
| 47 | IGSB | Ishares 1-5y Inv Grade CORP | — | EXIT | Sold out |
| 48 | MSCI | Msci INC | — | NEW | New buy |
| 49 | IT | Gartner INC | — | NEW | New buy |
| 50 | BAX | Baxter International INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-04 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-29 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-21 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-21 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-23 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-03 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-24 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-02 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-08 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-08 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-06 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-08 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-03 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-03 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-01 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-03 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-03-05 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-03 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-07 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-11 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
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