SAGE ADVISORS, LLC

Portfolio Overview

SAGE ADVISORS, LLC disclosed 48 positions worth $150.8M in its Form 13F-HR for Q4 2025, led by $OBDC (Blue Owl Capital Corp) at 17.0% of the equity portfolio, followed by $LLY and $ARCC. During the quarter the fund opened 15 new positions and exited 6 — including a new stake in $ENB and a full exit from $OKE. The portfolio is most concentrated in Other (40.2% of disclosed assets). All figures are sourced directly from SAGE ADVISORS, LLC’s Form 13F-HR filing with the SEC under CIK 2032121.

• 

  Blue Owl Capital Corp

  $OBDC

  —

  Quality

  $25.6M2,061,949 sh
• 

  ELI LILLY & Co

  $LLY

  87.5#2

  Quality

  $20.8M19,397 sh
• 

  ARES CAPITAL CORP

  $ARCC

  —

  Quality

  $19.3M955,548 sh
• 

  Broadstone Net Lease, Inc.

  $BNL

  61.6

  Quality

  $15.0M862,316 sh
• 

  ANNALY CAPITAL MANAGEMENT INC

  $NLY

  —

  Quality

  $7.2M320,533 sh
• 

  Apple Inc.

  $AAPL

  76.3

  Quality

  $7.1M26,291 sh
• 

  AMAZON COM INC

  $AMZN

  68.4

  Quality

  $6.7M28,943 sh
• 

  BERKSHIRE HATHAWAY INC

  $BRK.B

  73.6

  Quality

  $4.9M9,763 sh
• 

  ALTRIA GROUP, INC.

  $MO

  67.2

  Quality

  $4.2M73,670 sh
• 

  NVIDIA CORP

  $NVDA

  85.9

  Quality

  $3.8M20,486 sh

Company	Quality	Value	Shares
Blue Owl Capital Corp$OBDC	—	$25.6M	2,061,949
ELI LILLY & Co$LLY	87.5#2	$20.8M	19,397
ARES CAPITAL CORP$ARCC	—	$19.3M	955,548
Broadstone Net Lease, Inc.$BNL	61.6	$15.0M	862,316
ANNALY CAPITAL MANAGEMENT INC$NLY	—	$7.2M	320,533
Apple Inc.$AAPL	76.3	$7.1M	26,291
AMAZON COM INC$AMZN	68.4	$6.7M	28,943
BERKSHIRE HATHAWAY INC$BRK.B	73.6	$4.9M	9,763
ALTRIA GROUP, INC.$MO	67.2	$4.2M	73,670
NVIDIA CORP$NVDA	85.9	$3.8M	20,486

Showing top 10 of 48 holdings.

Full Holdings — SAGE ADVISORS, LLC (Q4 2025)

All 48 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	$OBDC	Blue Owl Capital Corp	$25.6M	17.0%	-6%	—
2	$LLY	ELI LILLY & Co	$20.8M	13.8%	-0%	87.5
3	$ARCC	ARES CAPITAL CORP	$19.3M	12.8%	-8%	—
4	$BNL	Broadstone Net Lease, Inc.	$15.0M	9.9%	-3%	61.6
5	$NLY	ANNALY CAPITAL MANAGEMENT INC	$7.2M	4.8%	+64%	—
6	$AAPL	Apple Inc.	$7.1M	4.7%	-2%	76.3
7	$AMZN	AMAZON COM INC	$6.7M	4.4%	+10%	68.4
8	$BRK.B	BERKSHIRE HATHAWAY INC	$4.9M	3.3%	-4%	73.6
9	$MO	ALTRIA GROUP, INC.	$4.2M	2.8%	+12%	67.2
10	$NVDA	NVIDIA CORP	$3.8M	2.5%	+3%	85.9
11	$ENB	ENBRIDGE INC	$3.7M	2.5%	NEW	66.7
12	$SPY	SPDR S&P 500 ETF TRUST	$2.6M	1.7%	+6%	—
13	$QQQ	INVESCO QQQ TRUST, SERIES 1	$2.4M	1.6%	+12%	—
14	$HCXY	Hercules Capital, Inc.	$2.3M	1.5%	+107%	—
15	—	SPDR DOW JONES INDL AVERAGE	$2.2M	1.5%	+10%	—
16	$META	Meta Platforms, Inc.	$2.0M	1.3%	+12%	79.6
17	$MSFT	MICROSOFT CORP	$1.8M	1.2%	+1%	79.7
18	$FSK	FS KKR Capital Corp	$1.8M	1.2%	-49%	—
19	$IBM	INTERNATIONAL BUSINESS MACHINES CORP	$1.6M	1.0%	+0%	69.7
20	$PWR	QUANTA SERVICES, INC.	$1.3M	0.8%	NEW	71.9
21	$JPM	JPMORGAN CHASE & CO	$1.0M	0.7%	+118%	70.3
22	$GOOG	Alphabet Inc.	$888,863	0.6%	+19%	78.1
23	—	ISHARES TR	$778,045	0.5%	NEW	—
24	—	ISHARES TR	$770,018	0.5%	NEW	—
25	$ASTS	AST SpaceMobile, Inc.	$697,466	0.5%	+28%	30.7
26	$HPE	Hewlett Packard Enterprise Co	$681,089	0.5%	+1%	70.3
27	$TSLA	Tesla, Inc.	$622,412	0.4%	+35%	53.6
28	$AVGO	Broadcom Inc.	$619,196	0.4%	-0%	84.4
29	—	ISHARES TR	$615,418	0.4%	NEW	—
30	$OHI	OMEGA HEALTHCARE INVESTORS INC	$587,830	0.4%	+52%	56.5
31	—	ISHARES TR	$579,212	0.4%	NEW	—
32	—	ISHARES TR	$577,397	0.4%	NEW	—
33	—	ISHARES TR	$568,444	0.4%	NEW	—
34	$HPQ	HP INC	$567,022	0.4%	-13%	59.1
35	$EPD	ENTERPRISE PRODUCTS PARTNERS L.P.	$563,702	0.4%	-25%	61
36	$ARES	Ares Management Corp	$543,125	0.4%	+5%	60.7
37	$RKT	Rocket Companies, Inc.	$527,366	0.3%	NEW	74
38	$BLK	BlackRock, Inc.	$476,858	0.3%	-1%	69.8
39	$OBDC	Blue Owl Capital Corp	$412,960	0.3%	+15%	—
40	$GLXY	Galaxy Digital Inc.	$399,417	0.3%	+69%	62.4
41	$CAT	CATERPILLAR INC	$334,407	0.2%	NEW	66.3
42	$COST	COSTCO WHOLESALE CORP /NEW	$318,054	0.2%	-74%	65.9
43	$NEE	NEXTERA ENERGY INC	$317,748	0.2%	+19%	64.4
44	$IPCX	Inflection Point Acquisition Corp. III	$248,007	0.2%	NEW	—
45	$GLD	SPDR GOLD TRUST	$219,159	0.1%	NEW	—
46	$MCK	MCKESSON CORP	$218,281	0.1%	NEW	63.2
47	$VELO	Velo3D, Inc.	$154,589	0.1%	NEW	16.1
48	$RDW	Redwire Corp	$78,759	0.1%	NEW	29.5