DMG GROUP LLC
Q3 2025 Form 13-F
BIRMINGHAM, ALABAMA
CIK 0001893403
· CRD 174077
· SEC-registered investment adviser
$144.5M Reported Value Total
GREYBOX INVESTMENTS reports 213 total accounts under management (AUM). There are 211 discretionary accounts valued at $132,101,481, and 2 non-discretionary accounts valued at $45,595,158.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-03-31
Reported value
$144.5M
Quarter over quarter
+5.9%
Holdings
142
Top-10 concentration
33.3%
Key People
Form ADV owners & control persons
Donie Martin Carlson
MANAGING MEMBER / CHIEF COMPLIANCE OFFICER
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Q3 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | October 29, 2025 |
| Form | 13F-HR |
| Reported value | $144.5M |
| Positions | 142 |
| Change in reported value | +12.3% |
| New positions | 21 |
| Exited positions | 5 |
| Position turnover | 17.7% |
| Top-10 concentration | 33.3% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Oct 26, 2026
|
122 | $143.4M |
|
Q2 2026 13F
Filed Jul 28, 2026
|
128 | $146.0M |
|
Q1 2026 13F
Filed Apr 30, 2026
|
141 | $148.0M |
|
Q4 2025 13F
Filed Jan 21, 2026
|
145 | $149.9M |
|
Q3 2025 13F
Filed Oct 29, 2025
|
142 | $144.5M |
|
Q2 2025 13F
Filed Jul 23, 2025
|
126 | $128.6M |
|
Q1 2025 13F
Filed Apr 30, 2025
|
126 | $122.8M |
|
Q4 2024 13F
Filed Jan 23, 2025
|
129 | $123.0M |
|
Q3 2024 13F
Filed Oct 18, 2024
|
132 | $123.6M |
|
Q2 2024 13F
Filed Jul 16, 2024
|
120 | $116.7M |
|
Q1 2024 13F
Filed Apr 19, 2024
|
123 | $115.8M |
|
Q4 2023 13F
Filed Jan 10, 2024
|
123 | $105.8M |
|
Q3 2023 13F
Filed Oct 26, 2023
|
118 | $106.8M |
|
Q2 2023 13F
Filed Jul 13, 2023
|
117 | $100.0M |
|
Q1 2023 13F
Filed Apr 24, 2023
|
121 | $99.0M |
|
Q4 2022 13F
Filed Feb 7, 2023
|
114 | $88.6M |
|
Q3 2022 13F
Filed Oct 27, 2022
|
105 | $82.8M |
|
Q2 2022 13F
Filed Aug 9, 2022
|
104 | $84.5M |
|
Q1 2022 13F
Filed Apr 25, 2022
|
104 | $89.4M |
|
Q4 2021 13F
Filed Jan 31, 2022
|
130 | $115.9M |
Top 20 holdings · Q3 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | AAPL APPLE INC COM | $13.4M | 9.25% |
| 2 | AGG ISHARES CORE US AGGREGATE BOND ETF | $6.3M | 4.34% |
| 3 | MSFT MICROSOFT CORP COM | $4.9M | 3.41% |
| 4 | IGSB ISHARES 1-5YR CORPORATE BOND ETF | $3.9M | 2.7% |
| 5 | PLTR PALANTIR TECHNOLOGIES INC CL A | $3.7M | 2.55% |
| 6 | META META PLATFORMS INC CL A | $3.6M | 2.48% |
| 7 | IGIB ISHARES 5-10YR CORPORATE BOND ETF | $3.5M | 2.43% |
| 8 | BWZ SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF | $3.1M | 2.16% |
| 9 | AMZN AMAZON COM INC COM | $2.9M | 2.02% |
| 10 | GOOGL ALPHABET INC CAP STK CL A | $2.9M | 1.99% |
| 11 | STIP ISHARES 0-5 YEAR TIPS BOND ETF | $2.4M | 1.69% |
| 12 | NFLX NETFLIX INC COM | $2.2M | 1.49% |
| 13 | GOVT ISHARES US TREASURY BOND ETF | $2.1M | 1.47% |
| 14 | RTX RTX CORPORATION COM | $2.1M | 1.43% |
| 15 | BLK BLACKROCK INC COM | $2.1M | 1.43% |
| 16 | IGOV ISHARES INTERNATIONAL TREASURY BOND ETF | $1.9M | 1.34% |
| 17 | SCHO SCHWAB SHORT-TERM US TREASURY ETF | $1.9M | 1.33% |
| 18 | AMD ADVANCED MICRO DEVICES INC COM | $1.7M | 1.2% |
| 19 | SAP SAP SE SPON ADR | $1.7M | 1.19% |
| 20 | COST COSTCO WHSL CORP NEW COM | $1.7M | 1.14% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.