NDVR, Inc.

Portfolio Overview

NDVR, Inc. disclosed 121 positions worth $120.5M in its Form 13F-HR for Q4 2025, followed by $HUBS. During the quarter the fund opened 30 new positions and exited 26 — including a new stake in $NEM and a full exit from $LRN. The portfolio is most concentrated in Other (46.2% of disclosed assets). All figures are sourced directly from NDVR, Inc.’s Form 13F-HR filing with the SEC under CIK 2011247.

• VANGUARD TAX-MANAGED FDS

  —

  Quality

  $28.6M458,244 sh
• 

  HUBSPOT INC

  $HUBS

  70.2#220

  Quality

  $9.9M24,747 sh

• VANGUARD INTL EQUITY INDEX F

  —

  Quality

  $9.6M178,573 sh

• ISHARES TR

  —

  Quality

  $6.4M63,694 sh
• 

  AMAZON COM INC

  $AMZN

  68.4

  Quality

  $5.9M25,367 sh
• 

  World Gold Trust

  $GLDM

  —

  Quality

  $4.8M56,736 sh
• 

  MICROSOFT CORP

  $MSFT

  79.7

  Quality

  $4.4M9,151 sh

• VANGUARD INDEX FDS

  —

  Quality

  $3.8M11,290 sh
• 

  NVIDIA CORP

  $NVDA

  85.9

  Quality

  $3.2M17,185 sh
• 

  Apple Inc.

  $AAPL

  76.3

  Quality

  $3.0M11,113 sh

Company	Quality	Value	Shares
VANGUARD TAX-MANAGED FDS	—	$28.6M	458,244
HUBSPOT INC$HUBS	70.2#220	$9.9M	24,747
VANGUARD INTL EQUITY INDEX F	—	$9.6M	178,573
ISHARES TR	—	$6.4M	63,694
AMAZON COM INC$AMZN	68.4	$5.9M	25,367
World Gold Trust$GLDM	—	$4.8M	56,736
MICROSOFT CORP$MSFT	79.7	$4.4M	9,151
VANGUARD INDEX FDS	—	$3.8M	11,290
NVIDIA CORP$NVDA	85.9	$3.2M	17,185
Apple Inc.$AAPL	76.3	$3.0M	11,113

Showing top 10 of 121 holdings.

Full Holdings — NDVR, Inc. (Q4 2025)

All 121 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	VANGUARD TAX-MANAGED FDS	$28.6M	23.8%	-1%	—
2	$HUBS	HUBSPOT INC	$9.9M	8.2%	-5%	70.2
3	—	VANGUARD INTL EQUITY INDEX F	$9.6M	8.0%	-1%	—
4	—	ISHARES TR	$6.4M	5.3%	+8%	—
5	$AMZN	AMAZON COM INC	$5.9M	4.9%	-1%	68.4
6	$GLDM	World Gold Trust	$4.8M	4.0%	-10%	—
7	$MSFT	MICROSOFT CORP	$4.4M	3.7%	-4%	79.7
8	—	VANGUARD INDEX FDS	$3.8M	3.1%	-4%	—
9	$NVDA	NVIDIA CORP	$3.2M	2.7%	-1%	85.9
10	$AAPL	Apple Inc.	$3.0M	2.5%	+0%	76.3
11	—	VANGUARD INDEX FDS	$1.8M	1.5%	+0%	—
12	—	ISHARES TR	$1.8M	1.5%	+0%	—
13	$GOOG	Alphabet Inc.	$1.5M	1.2%	+15%	78.1
14	$GOOGL	Alphabet Inc.	$1.3M	1.0%	+19%	78.1
15	$AVGO	Broadcom Inc.	$1.1M	0.9%	+26%	84.4
16	$META	Meta Platforms, Inc.	$965,052	0.8%	+2%	79.6
17	$WMT	Walmart Inc.	$909,106	0.8%	-7%	59.9
18	$EPAM	EPAM Systems, Inc.	$819,520	0.7%	-0%	58.6
19	—	SCHWAB STRATEGIC TR	$785,675	0.7%	-2%	—
20	$JPM	JPMORGAN CHASE & CO	$732,084	0.6%	-1%	70.3
21	$TSLA	Tesla, Inc.	$691,669	0.6%	+38%	53.6
22	—	ISHARES INC	$586,091	0.5%	+1%	—
23	$LLY	ELI LILLY & Co	$543,788	0.5%	+27%	87.5
24	$ABBV	AbbVie Inc.	$520,729	0.4%	-5%	72.5
25	$XOM.R34088	EXXON MOBIL CORP	$518,407	0.4%	-1%	57.7
26	$BRK.B	BERKSHIRE HATHAWAY INC	$478,523	0.4%	+2%	73.6
27	$TJX	TJX COMPANIES INC /DE/	$411,214	0.3%	+5%	68.4
28	$V	VISA INC.	$396,653	0.3%	-9%	82.7
29	$MCK	MCKESSON CORP	$383,896	0.3%	-17%	63.2
30	$GILD	GILEAD SCIENCES, INC.	$373,989	0.3%	-4%	57.3
31	$CAH	CARDINAL HEALTH INC	$365,379	0.3%	-22%	62.3
32	$PGR	PROGRESSIVE CORP/OH/	$364,124	0.3%	-6%	80
33	$HIG	HARTFORD INSURANCE GROUP, INC.	$362,827	0.3%	-8%	71.3
34	$IAU	ISHARES GOLD TRUST	$357,797	0.3%	+0%	—
35	$TRV	TRAVELERS COMPANIES, INC.	$357,644	0.3%	-4%	75.6
36	$FOXA	Fox Corp	$351,832	0.3%	-9%	64.2
37	$LDOS	Leidos Holdings, Inc.	$345,105	0.3%	-2%	65.2
38	$NEM	NEWMONT Corp /DE/	$341,886	0.3%	NEW	86.7
39	$COR	Cencora, Inc.	$340,452	0.3%	-14%	60.9
40	$FOX	Fox Corp	$334,909	0.3%	-1%	64.2
41	$LAUR	LAUREATE EDUCATION, INC.	$334,814	0.3%	+31%	61.1
42	$SCHW	SCHWAB CHARLES CORP	$329,703	0.3%	NEW	79.3
43	$T	AT&T INC.	$329,652	0.3%	+28%	65.5
44	$AXP	AMERICAN EXPRESS CO	$329,256	0.3%	-13%	69.1
45	$MTG	MGIC INVESTMENT CORP	$326,124	0.3%	-8%	56.6
46	$L	LOEWS CORP	$324,565	0.3%	-7%	64.7
47	$MLI	MUELLER INDUSTRIES INC	$324,540	0.3%	-37%	68.4
48	$EXEL	EXELIXIS, INC.	$321,405	0.3%	+20%	75.9
49	$ORI	OLD REPUBLIC INTERNATIONAL CORP	$312,588	0.3%	-10%	70.8
50	$MCY	MERCURY GENERAL CORP	$312,561	0.3%	-1%	76.4
51	$IDCC	InterDigital, Inc.	$311,376	0.3%	-26%	64.7
52	$HURN	Huron Consulting Group Inc.	$311,238	0.3%	-6%	53.6
53	$DLTR	DOLLAR TREE, INC.	$304,942	0.3%	NEW	67.6
54	$FHI	FEDERATED HERMES, INC.	$304,141	0.3%	-10%	67.1
55	$ALL	ALLSTATE CORP	$301,401	0.3%	+27%	78.2
56	$COKE	Coca-Cola Consolidated, Inc.	$301,388	0.3%	-25%	63.1
57	$UTHR	UNITED THERAPEUTICS Corp	$300,146	0.3%	+5%	70.9
58	$WRB	BERKLEY W R CORP	$298,431	0.3%	-13%	68.3
59	—	VANGUARD INDEX FDS	$297,371	0.3%	+0%	—
60	$PGNY	Progyny, Inc.	$290,646	0.2%	NEW	62.3
61	—	VANGUARD INDEX FDS	$288,325	0.2%	+0%	—
62	$CSGS	CSG SYSTEMS INTERNATIONAL INC	$287,971	0.2%	NEW	47.6
63	$HCA	HCA Healthcare, Inc.	$286,185	0.2%	NEW	68.6
64	$FTDR	Frontdoor, Inc.	$286,027	0.2%	+9%	59.9
65	$SYF	Synchrony Financial	$280,325	0.2%	NEW	63.8
66	$UNM	Unum Group	$270,320	0.2%	-19%	51.7
67	$BAC	BANK OF AMERICA CORP /DE/	$270,105	0.2%	NEW	67.3
68	$GL	GLOBE LIFE INC.	$265,454	0.2%	NEW	65.6
69	$INCY	INCYTE CORP	$264,802	0.2%	NEW	77.3
70	—	SIMPLIFY EXCHANGE TRADED FUN	$264,749	0.2%	-41%	—
71	$AIZ	ASSURANT, INC.	$263,972	0.2%	-6%	67.3
72	$KR	KROGER CO	$263,041	0.2%	-10%	50.9
73	$NEU	NEWMARKET CORP	$260,472	0.2%	-3%	59.5
74	$IBM	INTERNATIONAL BUSINESS MACHINES CORP	$260,072	0.2%	-44%	69.7
75	$FNF	Fidelity National Financial, Inc.	$258,484	0.2%	-3%	58
76	$THG	HANOVER INSURANCE GROUP, INC.	$257,523	0.2%	NEW	66.3
77	$LOPE	Grand Canyon Education, Inc.	$256,284	0.2%	-12%	64.8
78	$JNJ	JOHNSON & JOHNSON	$255,997	0.2%	NEW	68.8
79	$EXPE	Expedia Group, Inc.	$254,129	0.2%	NEW	70.7
80	$EME	EMCOR Group, Inc.	$253,893	0.2%	-34%	69.1
81	$BMY	BRISTOL MYERS SQUIBB CO	$250,551	0.2%	NEW	70.1
82	$CALM	CAL-MAINE FOODS INC	$247,861	0.2%	-1%	64
83	—	SPDR SERIES TRUST	$246,837	0.2%	+0%	—
84	$ENVA	Enova International, Inc.	$243,031	0.2%	NEW	69.5
85	$SUPN	SUPERNUS PHARMACEUTICALS, INC.	$242,188	0.2%	+13%	41.8
86	$CCK	CROWN HOLDINGS, INC.	$241,980	0.2%	NEW	61.9
87	$CSCO	CISCO SYSTEMS, INC.	$241,335	0.2%	-25%	70.1
88	—	ISHARES TR	$241,099	0.2%	+0%	—
89	$USFD	US Foods Holding Corp.	$240,045	0.2%	NEW	58
90	$BWA	BORGWARNER INC	$240,035	0.2%	NEW	55.7
91	$HALO	HALOZYME THERAPEUTICS, INC.	$239,655	0.2%	NEW	77
92	$CVSA	Covista Inc.	$239,430	0.2%	+6%	64.7
93	$MCRI	MONARCH CASINO & RESORT INC	$239,154	0.2%	NEW	61.5
94	$PJT	PJT Partners Inc.	$237,257	0.2%	-17%	70.8
95	$HCI	HCI Group, Inc.	$236,929	0.2%	+7%	74.7
96	$MA	Mastercard Inc	$235,773	0.2%	+9%	85
97	$GPOR	GULFPORT ENERGY CORP	$233,989	0.2%	-9%	72.1
98	$ORCL	ORACLE CORP	$233,697	0.2%	-16%	68.2
99	$EXPD	EXPEDITORS INTERNATIONAL OF WASHINGTON INC	$233,052	0.2%	-5%	65.9
100	—	ISHARES TR	$232,751	0.2%	+367%	—
101	$YOU	Clear Secure, Inc.	$232,475	0.2%	NEW	72.8
102	$CNA	CNA FINANCIAL CORP	$231,730	0.2%	-3%	60.6
103	$NXST	NEXSTAR MEDIA GROUP, INC.	$231,477	0.2%	NEW	55.7
104	$JBL	JABIL INC	$229,844	0.2%	-14%	57.2
105	$MKL	MARKEL GROUP INC.	$227,863	0.2%	-9%	60
106	$HMN	HORACE MANN EDUCATORS CORP /DE/	$226,328	0.2%	NEW	59.9
107	$BYD	BOYD GAMING CORP	$224,352	0.2%	NEW	61
108	—	VANGUARD CHARLOTTE FDS	$217,633	0.2%	NEW	—
109	—	SIMPLIFY EXCHANGE TRADED FUN	$216,702	0.2%	-3%	—
110	$GE	GENERAL ELECTRIC CO	$216,545	0.2%	-36%	73.6
111	$MO	ALTRIA GROUP, INC.	$214,726	0.2%	+6%	67.2
112	—	PROSHARES TR	$213,200	0.2%	NEW	—
113	$DDS	DILLARD'S, INC.	$206,762	0.2%	-7%	61.1
114	$ADT	ADT Inc.	$204,833	0.2%	+18%	62.9
115	$CINF	CINCINNATI FINANCIAL CORP	$204,313	0.2%	NEW	84.2
116	$NTCT	NETSCOUT SYSTEMS INC	$202,517	0.2%	NEW	60.4
117	$VMI	VALMONT INDUSTRIES INC	$201,965	0.2%	NEW	60.5
118	$ALSN	Allison Transmission Holdings Inc	$201,185	0.2%	-45%	66.6
119	$MET	METLIFE INC	$200,665	0.2%	-27%	55.8
120	$WU	Western Union CO	$98,323	0.1%	NEW	47.6
121	$GNW	GENWORTH FINANCIAL INC	$93,461	0.1%	-48%	49