Summit Trail Advisors, LLC
Sector Allocation
- Technology27.1%$2.1B
- Other23.2%$1.8B
- Financials19.8%$1.6B
- Industrials8.6%$684.5M
- Consumer Discretionary7.1%$562.0M
- Healthcare4.6%$367.7M
- Consumer Staples2.5%$197.9M
- Materials1.6%$128.7M
- Real Estate1.6%$128.0M
- Energy1.6%$126.4M
AUM History
13fpro.ai/research/fund/summit-trail-advisors-llc-1698478
Conviction and streaks
Stable · top 10 = 33.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
- VANGUARD$648.7M
WT
$568.2MAVGO
$287.6MAAPL
$207.8M- VANGUARD$172.0M
NVDA
$169.0MGOOGL
$166.5MIVZ
$166.0MGOOG
$142.6MOLLI
$124.0MAPH
$123.2MMSFT
$122.8M- VANGUARD$111.5M
DLO
$99.8MAMZN
$91.2MEXPD
$74.4M- VANGUARD$72.1M
SPY
$67.7M- ISHARES$66.5M
META
$62.5M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/summit-trail-advisors-llc-1698478
Summit Trail Advisors, LLC 13F holdings — Q2 2026
$7.9B portfolio (+13.9% QoQ) · 1,474 holdings · Q2 2026 13F · top 10 are 33% of the stock portfolio
Includes $6.3M of put/call options ($235K puts, $6.1M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $7.9B. Weights use the stock portfolio.
- 1
VANGUARD INDEX FDS - S&P 500 ETF SHS
$648.7M
8.2% of stocks
-10%This quarter—Since filed—HeldAIQuality—Est. buy— $568.2M
7.2% of stocks
+14%This quarter-4.6%Since filed10+ qtrsHeld$287.6M
3.6% of stocks
+0.3%This quarter-20.9%Since filed10+ qtrsHeld$207.8M
2.6% of stocks
+0.7%This quarter+12.8%Since filed5 qtrsHeld- 5
VANGUARD TAX-MANAGED FDS - VAN FTSE DEV MKT
$172.0M
2.2% of stocks
-5%This quarter—Since filed—HeldAIQuality—Est. buy— $169.0M
2.1% of stocks
+1%This quarter-0.7%Since filed10+ qtrsHeld$166.5M
2.1% of stocks
+0.2%This quarter-8.4%Since filed10+ qtrsHeld$166.0M
2.1% of stocks
+8%This quarter-9.0%Since filed10+ qtrsHeld$142.6M
1.8% of stocks
+0.7%This quarter-8.4%Since filed10+ qtrsHeld$124.0M
1.6% of stocks
+0.7%This quarter+7.0%Since filed5 qtrsHeld
All holdings — Summit Trail Advisors, LLC (Q2 2026)
1,474 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated. The page lists up to 1,000; every position is in the Excel export.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | AMPHENOL CORP /DE/ | Technology | $123.2M | 1.6% | 699K | -3% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | MICROSOFT CORP | Technology | $122.8M | 1.6% | 329K | +13% | 5 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | — | VANGUARD INTL EQUITY INDEX F - FTSE EMR MKT ETFetf/fund | — | $111.5M | 1.4% | 1.87M | -0.3% | — | — | 13F |
| 14 | dLocal Ltd | Industrials | $99.8M | 1.3% | 7.68M | +0.0% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | AMAZON COM INC | Consumer Discretionary | $91.2M | 1.1% | 383K | +3% | 5 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | EXPEDITORS INTERNATIONAL OF WASHINGTON INC | Industrials | $74.4M | 0.9% | 456K | -6% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | — | VANGUARD SCOTTSDALE FDS - VNG RUS1000IDXetf/fund | — | $72.1M | 0.9% | 213K | New | — | — | 13F |
| 18 | SPDR S&P 500 ETF TRUSTetf/fund | — | $67.7M | 0.8% | 91K | +1.0% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | — | ISHARES TR - RUSSELL 2000 ETFetf/fund | — | $66.5M | 0.8% | 221K | -12% | — | — | 13F |
| 20 | Meta Platforms, Inc. | Technology | $62.5M | 0.8% | 111K | -5% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Invesco Ltd. | Financials | $58.3M | 0.7% | 330K | -0.8% | 10+ qtrsAdded 2 qtrs in a row | — | 13F | |
| 22 | — | ISHARES TR - CORE US AGGBD ETetf/fund | — | $54.4M | 0.7% | 549K | +3% | — | — | 13F |
| 23 | Invesco Ltd.etf/fund | Financials | $50.2M | 0.6% | 540K | +2% | 10+ qtrsAdded 2 qtrs in a row | — | 13F | |
| 24 | MICRON TECHNOLOGY INC | Technology | $50.0M | 0.6% | 43K | -5% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | — | VANGUARD SCOTTSDALE FDS - INTER TERM TREASetf/fund | — | $46.4M | 0.6% | 786K | -2% | — | — | 13F |
| 26 | $JPM | JPMORGAN CHASE & CO | Financials | $45.0M | 0.6% | 138K | -2% | |||
| 27 | $CAT | CATERPILLAR INC | Industrials | $43.1M | 0.5% | 40K | -2% | |||
| 28 | $TSLA | Tesla, Inc. | Consumer Discretionary | $42.7M | 0.5% | 101K | +1% | |||
| 29 | $PLTR | Palantir Technologies Inc. | Technology | $41.8M | 0.5% | 359K | -0.7% | |||
| 30 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $41.7M | 0.5% | 83K | -0.6% | |||
| 31 | $IVZ | Invesco Ltd. | Financials | $39.1M | 0.5% | 606K | +7% | |||
| 32 | — | VANGUARD INDEX FDS - TOTAL STK MKT | — | $37.1M | 0.5% | 100K | +14% | |||
| 33 | $LLY | ELI LILLY & Co | Healthcare | $34.9M | 0.4% | 29K | +2% | |||
| 34 | — | ISHARES TR - MSCI EAFE ETF | — | $31.5M | 0.4% | 303K | +2% | |||
| 35 | $AMD | ADVANCED MICRO DEVICES INC | Technology | $30.8M | 0.4% | 53K | +3% | |||
| 36 | $AON | Aon plc | Financials | $29.8M | 0.4% | 90K | -0.6% | |||
| 37 | — | ISHARES TR - CORE S&P500 ETF | — | $29.1M | 0.4% | 39K | +12% | |||
| 38 | $SNDK | Sandisk Corp | Technology | $28.2M | 0.3% | 12K | -4% | |||
| 39 | $CRWD | CrowdStrike Holdings, Inc. | Technology | $27.2M | 0.3% | 36K | -4% | |||
| 40 | — | VANGUARD INDEX FDS - SMALL CP ETF | — | $26.5M | 0.3% | 87K | -2% | |||
| 41 | $SGU | STAR GROUP, L.P. | Consumer Discretionary | $26.1M | 0.3% | 2.03M | +0.4% | |||
| 42 | $JNJ | JOHNSON & JOHNSON | Healthcare | $26.0M | 0.3% | 102K | -0.5% | |||
| 43 | $OKTA | Okta, Inc. | Technology | $25.8M | 0.3% | 189K | -14% | |||
| 44 | $DDOG | Datadog, Inc. | Technology | $25.6M | 0.3% | 98K | -3% | |||
| 45 | $IAU | ISHARES GOLD TRUST | Financials | $25.4M | 0.3% | 337K | +0.2% | |||
| 46 | $WDC | WESTERN DIGITAL CORP | Technology | $24.7M | 0.3% | 39K | -18% | |||
| 47 | — | KRANESHARES TRUST - CALIFORNIA CARB | — | $24.0M | 0.3% | 1.41M | -1% | |||
| 48 | $ANET | Arista Networks, Inc. | Technology | $24.0M | 0.3% | 141K | -7% | |||
| 49 | $DOV | DOVER Corp | Industrials | $22.7M | 0.3% | 145K | -26% | |||
| 50 | $ERIE | ERIE INDEMNITY CO | Financials | $22.2M | 0.3% | 93K | +0.5% | |||
| 51 | $LRCX | LAM RESEARCH CORP | Technology | $21.7M | 0.3% | 50K | -5% | |||
| 52 | $IVZ | Invesco Ltd. | Financials | $21.4M | 0.3% | 645K | New | |||
| 53 | $INTC | INTEL CORP | Technology | $20.8M | 0.3% | 149K | +3% | |||
| 54 | $APO | Apollo Global Management, Inc. | Financials | $20.5M | 0.3% | 173K | +0.7% | |||
| 55 | $HIMS | Hims & Hers Health, Inc. | Healthcare | $20.1M | 0.3% | 581K | -0.0% | |||
| 56 | $GS | GOLDMAN SACHS GROUP INC | Financials | $20.0M | 0.3% | 20K | -4% | |||
| 57 | $XOM.R34088 | EXXON MOBIL CORP | Energy | $19.7M | 0.3% | 144K | -0.3% | |||
| 58 | — | ISHARES TR - 3YRTB ETF | — | $19.7M | 0.3% | 266K | -73% | |||
| 59 | $COST | COSTCO WHOLESALE CORP /NEW | Consumer Staples | $18.8M | 0.2% | 20K | +2% | |||
| 60 | $V | VISA INC. | Financials | $18.8M | 0.2% | 55K | +6% | |||
| 61 | $SCHW | SCHWAB CHARLES CORP | Financials | $18.8M | 0.2% | 203K | -3% | |||
| 62 | $CSCO | CISCO SYSTEMS, INC. | Technology | $18.6M | 0.2% | 158K | -0.3% | |||
| 63 | — | ISHARES TR - EAFE VALUE ETF | — | $18.3M | 0.2% | 239K | +0.2% | |||
| 64 | $AMAT | APPLIED MATERIALS INC /DE | Technology | $17.7M | 0.2% | 24K | -0.3% | |||
| 65 | $WMT | Walmart Inc. | Consumer Staples | $17.4M | 0.2% | 154K | -1% | |||
| 66 | — | SPDR SERIES TRUST - ST STR P400MID | — | $17.3M | 0.2% | 256K | -7% | |||
| 67 | $ABBV | AbbVie Inc. | Healthcare | $16.8M | 0.2% | 67K | +3% | |||
| 68 | — | ISHARES TR - RUS 1000 GRW ETF | — | $16.5M | 0.2% | 133K | +270% | |||
| 69 | — | ISHARES TR - CORE MSCI EAFE | — | $16.3M | 0.2% | 168K | +2% | |||
| 70 | — | J P MORGAN EXCHANGE TRADED F - BETABULDRS JAPAN | — | $15.3M | 0.2% | 204K | -18% | |||
| 71 | — | ISHARES TR - CORE S&P SCP ETF | — | $15.0M | 0.2% | 101K | +0.2% | |||
| 72 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $14.6M | 0.2% | 256K | +0.7% | |||
| 73 | $KLAC | KLA CORP | Technology | $14.5M | 0.2% | 48K | +876% | |||
| 74 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | — | $14.4M | 0.2% | 20K | +9% | |||
| 75 | $RTX | RTX Corp | Industrials | $14.4M | 0.2% | 76K | -3% | |||
| 76 | $UNH | UNITEDHEALTH GROUP INC | Healthcare | $13.9M | 0.2% | 33K | +14% | |||
| 77 | $GE | GENERAL ELECTRIC CO | Industrials | $13.8M | 0.2% | 37K | -1% | |||
| 78 | $CVX | CHEVRON CORP | Energy | $13.5M | 0.2% | 82K | -3% | |||
| 79 | $MA | Mastercard Inc | Financials | $12.8M | 0.2% | 25K | +1% | |||
| 80 | — | SELECT SECTOR SPDR TR - ST STR INDL ETF | — | $12.7M | 0.2% | 68K | +2% | |||
| 81 | $PM | Philip Morris International Inc. | Consumer Staples | $12.6M | 0.2% | 70K | -6% | |||
| 82 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $12.5M | 0.2% | 35K | -4% | |||
| 83 | — | SCHWAB STRATEGIC TR - US BRD MKT ETF | — | $12.5M | 0.2% | 431K | -5% | |||
| 84 | $C | CITIGROUP INC | Financials | $12.4M | 0.2% | 88K | -1% | |||
| 85 | $GEV | GE Vernova Inc. | Industrials | $12.3M | 0.1% | 10K | +0.7% | |||
| 86 | — | VANGUARD INDEX FDS - MID CAP ETF | — | $11.0M | 0.1% | 137K | +324% | |||
| 87 | $AXP | AMERICAN EXPRESS CO | Financials | $11.0M | 0.1% | 32K | +6% | |||
| 88 | $MRK | Merck & Co., Inc. | Healthcare | $10.9M | 0.1% | 85K | +2% | |||
| 89 | $LMT | LOCKHEED MARTIN CORP | Industrials | $10.7M | 0.1% | 21K | -0.7% | |||
| 90 | $KO | COCA COLA CO | Consumer Staples | $10.7M | 0.1% | 132K | +25% | |||
| 91 | — | ISHARES TR - RUS MD CP GR ETF | — | $10.6M | 0.1% | 73K | +0.0% | |||
| 92 | $PG | PROCTER & GAMBLE Co | Consumer Staples | $10.6M | 0.1% | 72K | +9% | |||
| 93 | — | ISHARES TR - RUS MID CAP ETF | — | $10.6M | 0.1% | 96K | -10% | |||
| 94 | $ORCL | ORACLE CORP | Technology | $10.4M | 0.1% | 71K | +7% | |||
| 95 | $UBER | Uber Technologies, Inc | Technology | $10.1M | 0.1% | 139K | -6% | |||
| 96 | $BKNG | Booking Holdings Inc. | Consumer Discretionary | $10.0M | 0.1% | 56K | +2244% | |||
| 97 | $WFC | WELLS FARGO & COMPANY/MN | Financials | $9.8M | 0.1% | 118K | +8% | |||
| 98 | $GLW | CORNING INC /NY | Materials | $9.8M | 0.1% | 38K | -6% | |||
| 99 | — | ISHARES TR - 0-5 YR TIPS ETF | — | $9.7M | 0.1% | 95K | -0.2% | |||
| 100 | $WSE | Wise Group plc | Industrials | $9.3M | 0.1% | 784K | New | |||
| 101 | — | VANGUARD INDEX FDS - VALUE ETF | — | $9.1M | 0.1% | 42K | +5% | |||
| 102 | — | ISHARES TR - RUS 1000 ETF | — | $9.0M | 0.1% | 22K | -2% | |||
| 103 | $ASML | ASML HOLDING NV | Technology | $9.0M | 0.1% | 4,530 | -1% | |||
| 104 | — | VANGUARD BD INDEX FDS - TOTAL BND MRKT | — | $9.0M | 0.1% | 122K | -11% | |||
| 105 | $NFLX | NETFLIX INC | Communication Services | $8.8M | 0.1% | 123K | -0.0% | |||
| 106 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $8.8M | 0.1% | 58K | +9% | |||
| 107 | $PANW | Palo Alto Networks Inc | Technology | $8.7M | 0.1% | 26K | -0.5% | |||
| 108 | $DASH | DoorDash, Inc. | Consumer Discretionary | $8.7M | 0.1% | 47K | -2% | |||
| 109 | $TXG | 10x Genomics, Inc. | Healthcare | $8.6M | 0.1% | 225K | -16% | |||
| 110 | — | ISHARES TR - CORE S&P TTL STK | — | $8.6M | 0.1% | 52K | -6% | |||
| 111 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | $8.3M | 0.1% | 29K | -2% | |||
| 112 | $MNST | Monster Beverage Corp | Consumer Staples | $8.2M | 0.1% | 86K | -0.0% | |||
| 113 | $DE | DEERE & CO | Industrials | $8.1M | 0.1% | 13K | +5% | |||
| 114 | $ADI | ANALOG DEVICES INC | Technology | $7.9M | 0.1% | 20K | -4% | |||
| 115 | $LIN | LINDE PLC | Materials | $7.9M | 0.1% | 15K | +5% | |||
| 116 | $FITB | FIFTH THIRD BANCORP | Financials | $7.9M | 0.1% | 140K | -11% | |||
| 117 | $CRM | Salesforce, Inc. | Technology | $7.8M | 0.1% | 50K | +1% | |||
| 118 | — | VANGUARD SCOTTSDALE FDS - SHORT TERM TREAS | — | $7.7M | 0.1% | 132K | +47% | |||
| 119 | — | ISHARES TR - MSCI USA QLT FCT | — | $7.6M | 0.1% | 35K | -2% | |||
| 120 | $TER | TERADYNE, INC | Technology | $7.3M | 0.1% | 15K | -22% | |||
| 121 | $ALL | ALLSTATE CORP | Financials | $7.2M | 0.1% | 30K | +4% | |||
| 122 | $SOFI | SoFi Technologies, Inc. | Financials | $7.2M | 0.1% | 399K | -5% | |||
| 123 | — | VANGUARD WORLD FD - INF TECH ETF | — | $7.2M | 0.1% | 60K | +700% | |||
| 124 | $MS | MORGAN STANLEY | Financials | $7.1M | 0.1% | 34K | -0.0% | |||
| 125 | $QCOM | QUALCOMM INC/DE | Technology | $7.1M | 0.1% | 38K | +3% | |||
| 126 | $MO | ALTRIA GROUP, INC. | Consumer Staples | $7.1M | 0.1% | 98K | -7% | |||
| 127 | $MAR | MARRIOTT INTERNATIONAL INC /MD/ | Consumer Discretionary | $7.1M | 0.1% | 19K | -3% | |||
| 128 | $ETN | Eaton Corp plc | Industrials | $7.0M | 0.1% | 17K | -0.5% | |||
| 129 | $DVA | DAVITA INC. | Healthcare | $7.0M | 0.1% | 32K | -1% | |||
| 130 | $CL | COLGATE PALMOLIVE CO | Consumer Staples | $7.0M | 0.1% | 76K | +11% | |||
| 131 | $PGR | PROGRESSIVE CORP/OH/ | Financials | $7.0M | 0.1% | 32K | +8% | |||
| 132 | $STX | Seagate Technology Holdings plc | Technology | $6.9M | 0.1% | 7,113 | -24% | |||
| 133 | $COIN | Coinbase Global, Inc. | Financials | $6.8M | 0.1% | 47K | -6% | |||
| 134 | $VZ | VERIZON COMMUNICATIONS INC | Communication Services | $6.8M | 0.1% | 161K | +10% | |||
| 135 | — | ISHARES TR - MSCI EMG MKT ETF | — | $6.8M | 0.1% | 99K | -3% | |||
| 136 | $PEP | PEPSICO INC | Consumer Staples | $6.8M | 0.1% | 50K | +11% | |||
| 137 | $NEE | NEXTERA ENERGY INC | Utilities | $6.7M | 0.1% | 77K | +3% | |||
| 138 | $MAS | MASCO CORP /DE/ | Industrials | $6.7M | 0.1% | 83K | +3% | |||
| 139 | $MRVL | Marvell Technology, Inc. | Technology | $6.7M | 0.1% | 22K | -19% | |||
| 140 | $CSX | CSX CORP | Industrials | $6.7M | 0.1% | 140K | +4% | |||
| 141 | $SPG | SIMON PROPERTY GROUP INC. | Real Estate | $6.6M | 0.1% | 29K | -3% | |||
| 142 | $DELL | Dell Technologies Inc. | Technology | $6.5M | 0.1% | 15K | -5% | |||
| 143 | $TMO | THERMO FISHER SCIENTIFIC INC. | Healthcare | $6.5M | 0.1% | 13K | -0.6% | |||
| 144 | — | VANGUARD SPECIALIZED FUNDS - DIV APP ETF | — | $6.5M | 0.1% | 27K | +7% | |||
| 145 | $CMI | CUMMINS INC | Industrials | $6.4M | 0.1% | 8,928 | -7% | |||
| 146 | — | ISHARES TR - RUSSELL 3000 ETF | — | $6.3M | 0.1% | 15K | -4% | |||
| 147 | $PH | Parker-Hannifin Corp | Industrials | $6.2M | 0.1% | 6,381 | -5% | |||
| 148 | $MPC | Marathon Petroleum Corp | Energy | $6.2M | 0.1% | 24K | -0.7% | |||
| 149 | $TXN | TEXAS INSTRUMENTS INC | Technology | $6.2M | 0.1% | 21K | +5% | |||
| 150 | $CB | Chubb Ltd | Financials | $6.2M | 0.1% | 18K | +15% |
What changed in Q2 2026
Against the previous quarter's 13F: 79 new, 787 added to, 543 trimmed, 43 sold out. Share-count changes; largest moves by dollar size first.
New positions (79)
- VANGUARD SCOTTSDALE FDS - VNG RUS1000IDX$72.1M
first bought this quarter
$WSEWise Group plc$9.3M
first bought this quarter
first bought this quarter
$CRWVCoreWeave, Inc.$5.8M
first bought this quarter
$HONAHoneywell Aerospace Inc.$2.7M
first bought this quarter
$PJTPJT Partners Inc.$1.9M
first bought this quarter
+73 more in the Excel export
Added to (787)
now $568.2M · held 10+ qtrs, 2 adds in a row
now $122.8M · held 5 qtrs, 2 adds in a row
$KLACKLA CORP+876%
now $14.5M · held 5 qtrs
- ISHARES TR - RUS 1000 GRW ETF+270%
now $16.5M
now $166.0M · held 10+ qtrs, 2 adds in a row
$BKNGBooking Holdings Inc.+2244%
now $10.0M · held 10+ qtrs
+781 more in the Excel export
Trimmed (543)
- VANGUARD INDEX FDS - S&P 500 ETF SHS-10%
now $648.7M
- ISHARES TR - 3YRTB ETF-73%
now $19.7M
- ISHARES TR - RUSSELL 2000 ETF-12%
now $66.5M
- VANGUARD TAX-MANAGED FDS - VAN FTSE DEV MKT-5%
now $172.0M
$DOVDOVER Corp-26%
now $22.7M · held 5 qtrs
- SPDR SERIES TRUST - ST LON TREAS ETF-87%
now $1.1M
+537 more in the Excel export
Holdings by quarter
Every 13F Summit Trail Advisors, LLC has filed, 34 earlier quarters. Pick one to see what it held then.
Is it too late to follow Summit Trail Advisors?
Q2 2026 13F filed with the SEC on Aug 11, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Summit Trail Advisors's top 20 holdings: 73/100 (our AI quality score, weighted by position size; 17 of the 20 are scored)
Top 10 since filing
-5.1%
Value-weighted move of the 10 largest stock positions
Turnover
5%
Last quarter; 14% over the last 4
Top 10 weight
33%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
97%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Summit Trail Advisors, LLC disclosed 1,474 positions worth $7.9B in its Form 13F-HR for Q2 2026 — $7.9B in common stock plus $6.3M of put/call option positions (reported at underlying notional value, not premium at risk), followed by $WT and $AVGO. During the quarter the fund opened 79 new positions and exited 43 and a full exit from $AL. The portfolio is most concentrated in Technology (27.1% of disclosed assets). All figures are sourced directly from Summit Trail Advisors, LLC’s Form 13F-HR filing with the SEC under CIK 1698478.
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