STUDIO INVESTMENT MANAGEMENT LLC's Q2 2025 13F: 6 new positions, 153 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Jul 30, 2025 · 173 reported positions · accession 0001893893-25-000004
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | Vanguard Short-Term Inflation-Protected ETF (VTIP) | 15.3% | 15.8% | +0.5 pts | +79,990 sh | +5% |
| Reduced | Vanguard Short-Term Corporate Bond ETF (VCSH) | 2.0% | 1.5% | −0.5 pts | −30,173 sh | −24% |
| Reduced | Vanguard Small-Cap Value ETF (VBR) | 3.8% | 3.7% | −0.2 pts | −6,334 sh | −6% |
| Increased | Invesco S&P 500 Equal Weight Utilts ETF (RSPU) | 1.0% | 1.2% | +0.2 pts | +17,093 sh | +25% |
| Increased | Vanguard Short-Term Treasury ETF (VGSH) | 2.3% | 2.4% | +0.1 pts | +14,574 sh | +8% |
| Increased | Dimensional Short-Duration Fixed Income ETF (DFSD) | 2.2% | 2.3% | +0.1 pts | +14,250 sh | +6% |
| Exited | Canadian Natural Resources Ltd (CNQ) | 0.1% | — | −0.1 pts | −21,207 sh | −100% |
| Reduced | iShares 0 to 3 Month Treasury Bond ETF (SGOV) | 1.5% | 1.3% | −0.2 pts | −6,486 sh | −9% |
| New | The AES Corp (AES) | — | 0.1% | +0.1 pts | +62,049 sh | new |
| Reduced | iShares 3-7 Year Treasury Bond ETF (IEI) | 0.4% | 0.3% | −0.1 pts | −5,283 sh | −32% |
| Reduced | iShares Short-Term National Muni Bond ETF (SUB) | 0.2% | 0.1% | −0.1 pts | −5,882 sh | −64% |
| Reduced | SPDR Bloomberg Barclay's 3 to 12 Month TBill ETF (BILS) | 0.4% | 0.2% | −0.1 pts | −6,137 sh | −34% |
| Increased | Adobe Systems Inc (ADBE) | 0.1% | 0.2% | +0.1 pts | +1,398 sh | +82% |
| Reduced | SPDR Nuveen Barclays Short Term Muni Bond ETF (SHM) | 0.3% | 0.1% | −0.1 pts | −10,920 sh | −43% |
| Exited | Schwab Short-Term US Treasury ETF (SCHO) | 0.1% | — | −0.1 pts | −20,436 sh | −100% |
| Increased | Target Corporation (TGT) | 0.1% | 0.2% | +0.1 pts | +5,166 sh | +108% |
| Reduced | Broadcom Inc Com (AVGO) | 0.7% | 1.0% | +0.3 pts | −1,763 sh | −9% |
| New | SPDR Portfolio Long Term Treasury ETF (SPTL) | — | 0.1% | +0.1 pts | +18,216 sh | new |
| Reduced | Vanguard Intermediate-Term Bond ETF (BIV) | 0.2% | 0.1% | −0.1 pts | −5,649 sh | −39% |
| Increased | J M Smucker Co (SJM) | 0.1% | 0.1% | +0.1 pts | +3,938 sh | +167% |
| Increased | The Hershey Co (HSY) | 0.3% | 0.4% | +0.1 pts | +2,270 sh | +25% |
| Reduced | General Mills Inc (GIS) | 0.8% | 0.6% | −0.2 pts | −7,239 sh | −11% |
| Reduced | Caterpillar Inc (CAT) | 0.9% | 1.0% | +0.1 pts | −932 sh | −7% |
| Increased | Sysco Corporation (SYY) | 0.0% | 0.1% | +0.1 pts | +4,389 sh | +146% |
| Increased | Schwab Intermediate-Term U S Trs ETFvU (SCHR) | 0.2% | 0.2% | +0.1 pts | +12,993 sh | +41% |
| Increased | Donaldson Co Inc (DCI) | 0.0% | 0.1% | +0.1 pts | +4,633 sh | +145% |
| Increased | DFA U S Targeted Value ETF (DFAT) | 0.7% | 0.8% | +0.1 pts | +5,932 sh | +9% |
| Reduced | DFA International Core Equity 2 ETF (DFIC) | 3.4% | 3.6% | +0.2 pts | −10,244 sh | −2% |
| Reduced | Vanguard Tax-Exempt Bond ETF (VTEB) | 0.2% | 0.1% | −0.1 pts | −6,490 sh | −41% |
| Increased | CACI International Inc (CACI) | 0.2% | 0.3% | +0.1 pts | +664 sh | +23% |
| Reduced | Vanguard Value ETF (VTV) | 5.8% | 5.7% | −0.1 pts | −1,739 sh | −1% |
| Reduced | Deere & Co (DE) | 0.5% | 0.5% | 0.0 pts | −603 sh | −12% |
| Reduced | U S Bancorp Del New (USB) | 0.3% | 0.3% | 0.0 pts | −6,176 sh | −17% |
| Reduced | Microsoft Corp (MSFT) | 1.7% | 2.2% | +0.4 pts | −484 sh | −2% |
| Increased | Te Connectivity Ltd (TEL) | 0.1% | 0.2% | +0.1 pts | +1,417 sh | +29% |
| New | PIMCO Multisector Bond Active ETF (PYLD) | — | 0.0% | 0.0 pts | +8,932 sh | new |
| Increased | Becton Dickinson and Co (BDX) | 0.4% | 0.4% | −0.1 pts | +1,369 sh | +15% |
| New | Eaton Vance Total Return Bond ETF (EVTR) | — | 0.0% | 0.0 pts | +4,278 sh | new |
| Exited | International Flavors & Fragrances Inc (IFF) | 0.0% | — | 0.0 pts | −2,662 sh | −100% |
| New | WisdomTree LargeCap Dividend ETF (DLN) | — | 0.0% | 0.0 pts | +2,602 sh | new |
| Reduced | Alphabet Inc Class A (GOOGL) | 1.7% | 1.8% | +0.1 pts | −1,157 sh | −2% |
| New | Schwab U S Large-Cap Growth ETFvO (SCHG) | — | 0.0% | 0.0 pts | +6,885 sh | new |
| Exited | Comcast Corp New Cl A (CMCSA) | 0.0% | — | 0.0 pts | −5,200 sh | −100% |
| Exited | Idex Corp (IEX) | 0.0% | — | 0.0 pts | −1,048 sh | −100% |
| Increased | Vanguard Total Stock Market ETF (VTI) | 0.9% | 1.0% | +0.1 pts | +626 sh | +4% |
| Reduced | General Dynamics Corp (GD) | 1.4% | 1.4% | 0.0 pts | −649 sh | −3% |
| Exited | Teledyne Technologies Inc (TDY) | 0.0% | — | 0.0 pts | −367 sh | −100% |
| Increased | Vanguard S&P Small-Cap 600 Value ETF (VIOV) | 0.4% | 0.4% | 0.0 pts | +2,184 sh | +10% |
| Exited | Jacobs Solutions Inc (J) | 0.0% | — | 0.0 pts | −1,476 sh | −100% |
| Exited | Booz Allen Hamilton (BAH) | 0.0% | — | 0.0 pts | −1,690 sh | −100% |
The 50 largest of 320 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 47.7% of the equity book
Changes in the top 10 this quarter: MSFT entered · VCSH left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Vanguard Short-Term Inflation-Protected ETF (VTIP) | 15.3% | 15.8% | |
| 2 | Vanguard Dividend Appreciation ETF (VIG) | 5.8% | 6.0% | |
| 3 | Vanguard Value ETF (VTV) | 5.8% | 5.7% | |
| 4 | Vanguard Small-Cap Value ETF (VBR) | 3.8% | 3.7% | |
| 5 | DFA International Core Equity 2 ETF (DFIC) | 3.4% | 3.6% | |
| 6 | Schwab Fundamental Intl Lg Co ETF (FNDF) | 3.0% | 3.2% | |
| 7 | Berkshire Hathaway Inc Class B (BRK-B) | 3.3% | 2.9% | |
| 8 | Vanguard Short-Term Treasury ETF (VGSH) | 2.3% | 2.4% | |
| 9 | Dimensional Short-Duration Fixed Income ETF (DFSD) | 2.2% | 2.3% | |
| 10 | Microsoft Corp (MSFT) | 1.7% | 2.2% | Entered the top 10 |
| — | Vanguard Short-Term Corporate Bond ETF (VCSH) | 2.0% | 1.5% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).