SYON CAPITAL LLC's Q2 2025 13F: 210 new positions, 69 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Aug 14, 2025 · 724 reported positions · accession 0001765380-25-000375
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | DOORDASH INC CL A (DASH) | — | 4.2% | +4.2 pts | +255K sh | new |
| Increased | META PLATFORMS INC CL A (META) | 1.6% | 3.5% | +1.9 pts | +37,247 sh | +111% |
| New | ISHARES AGENCY BOND ETF (AGZ) | — | 1.4% | +1.4 pts | +188K sh | new |
| Exited | ISHARES 10-20 YEAR TREASURY BOND ETF (TLH) | 1.3% | — | −1.3 pts | −150K sh | −100% |
| Reduced | VANECK BITCOIN ETF (HODL) | 1.1% | 0.2% | −1.0 pts | −513K sh | −87% |
| Increased | BLOCK INC CL A (XYZ) | 1.0% | 2.0% | +1.0 pts | +216K sh | +96% |
| New | ISHARES BITCOIN TRUST ETF (IBIT) | — | 0.8% | +0.8 pts | +201K sh | new |
| Reduced | INVESCO EMERGING MARKETS SOVEREIGN DEBT ETF (PCY) | 3.0% | 1.7% | −1.3 pts | −569K sh | −31% |
| Reduced | ISHARES 7-10 YEAR TREASURY BOND ETF (IEF) | 0.8% | 0.0% | −0.8 pts | −101K sh | −98% |
| Increased | ISHARES CORE INTERNATIONAL AGGREGATE BOND ETF (IAGG) | 1.4% | 1.7% | +0.4 pts | +174K sh | +52% |
| Increased | EVERCORE INC CLASS A (EVR) | 0.0% | 0.6% | +0.5 pts | +29,943 sh | +1819% |
| Reduced | ISHARES CALIFORNIA MUNI BOND ETF (CMF) | 6.2% | 4.5% | −1.7 pts | −140K sh | −10% |
| Increased | INVESCO CALIFORNIA AMT-FREE MUNICIPAL BOND ETF (PWZ) | 2.0% | 2.1% | +0.1 pts | +303K sh | +29% |
| Reduced | ISHARES CORE S&P SMALL CAP ETF (IJR) | 0.7% | 0.2% | −0.5 pts | −56,500 sh | −71% |
| New | ISHARES CORE S&P MID-CAP ETF (IJH) | — | 0.4% | +0.4 pts | +98,907 sh | new |
| Increased | ALPHABET INC CAP STK CL A (GOOGL) | 1.0% | 1.4% | +0.3 pts | +33,619 sh | +40% |
| Increased | ISHARES CORE U.S. AGGREGATE BOND ETF (AGG) | 1.8% | 1.9% | 0.0 pts | +55,666 sh | +25% |
| Increased | NVIDIA CORPORATION COM (NVDA) | 2.1% | 2.8% | +0.7 pts | +31,973 sh | +13% |
| New | ROBLOX CORP CL A (RBLX) | — | 0.3% | +0.3 pts | +47,402 sh | new |
| Increased | MICROSOFT CORP COM (MSFT) | 2.6% | 3.0% | +0.5 pts | +8,010 sh | +10% |
| New | BONDBLOXX BLOOMBERG ONE YEAR TARGET DURATION US TREASURY ETF (XONE) | — | 0.3% | +0.3 pts | +80,072 sh | new |
| Reduced | HEALTH CARE SELECT SECTOR SPDR FUND (XLV) | 0.7% | 0.3% | −0.4 pts | −28,220 sh | −49% |
| Reduced | VANECK GOLD MINERS ETF (GDX) | 1.5% | 1.1% | −0.4 pts | −69,765 sh | −17% |
| Reduced | ISHARES CORE S&P 500 ETF (IVV) | 2.6% | 2.1% | −0.5 pts | −5,826 sh | −10% |
| Reduced | VANECK CLO ETF (CLOI) | 3.7% | 2.8% | −0.9 pts | −60,699 sh | −7% |
| Reduced | ISHARES MSCI EMERGING MARKETS EX CHINA ETF (EMXC) | 0.6% | 0.4% | −0.2 pts | −44,116 sh | −32% |
| Increased | TESLA INC COM (TSLA) | 0.2% | 0.4% | +0.2 pts | +8,180 sh | +72% |
| Increased | ISHARES MSCI PACIFIC EX-JAPAN ETF (EPP) | 0.4% | 0.5% | +0.1 pts | +47,825 sh | +48% |
| New | JANUS HENDERSON AAA CLO ETF (JAAA) | — | 0.2% | +0.2 pts | +44,912 sh | new |
| Increased | SPOTIFY TECHNOLOGY S A SHS (SPOT) | 0.2% | 0.4% | +0.2 pts | +2,797 sh | +59% |
| Reduced | ISHARES JP MORGAN USD EMERGING MARKETS BOND ETF (EMB) | 0.8% | 0.5% | −0.3 pts | −22,810 sh | −21% |
| Increased | ISHARES CORE MSCI EUROPE ETF (IEUR) | 0.1% | 0.2% | +0.1 pts | +27,881 sh | +117% |
| Reduced | ISHARES GOLD TRUST (IAU) | 1.7% | 1.3% | −0.4 pts | −28,042 sh | −8% |
| New | BONDBLOXX BLOOMBERG SIX MONTH TARGET DURATION US TREASURY ETF (XHLF) | — | 0.1% | +0.1 pts | +33,350 sh | new |
| Reduced | VANGUARD DIVIDEND APPRECIATION ETF (VIG) | 1.2% | 0.9% | −0.3 pts | −7,750 sh | −10% |
| Reduced | UNITEDHEALTH GROUP INC COM (UNH) | 0.6% | 0.2% | −0.4 pts | −4,987 sh | −35% |
| Increased | AMAZON COM INC COM (AMZN) | 1.2% | 1.2% | 0.0 pts | +7,067 sh | +9% |
| Reduced | PGIM ULTRA SHORT BOND ETF (PULS) | 0.3% | 0.1% | −0.1 pts | −29,191 sh | −47% |
| Increased | BERKSHIRE HATHAWAY INC DEL CL B NEW (BRK-B) | 0.8% | 0.7% | −0.1 pts | +2,984 sh | +16% |
| Reduced | ISHARES MSCI GLOBAL GOLD MINERS ETF (RING) | 0.7% | 0.6% | −0.1 pts | −33,044 sh | −15% |
| Reduced | VANGUARD ENERGY ETF (VDE) | 0.4% | 0.2% | −0.2 pts | −12,083 sh | −34% |
| Increased | HOME DEPOT INC COM (HD) | 0.3% | 0.3% | 0.0 pts | +3,556 sh | +41% |
| Reduced | SPDR GOLD SHARES (GLD) | 0.8% | 0.6% | −0.2 pts | −4,167 sh | −12% |
| Increased | COLUMBIA EM CORE EX-CHINA ETF (XCEM) | 1.0% | 1.0% | 0.0 pts | +36,972 sh | +9% |
| Reduced | ISHARES CORE MSCI EMERGING MARKETS ETF (IEMG) | 2.1% | 1.8% | −0.3 pts | −20,895 sh | −4% |
| Increased | CAPITAL ONE FINL CORP COM (COF) | 0.1% | 0.1% | +0.1 pts | +5,729 sh | +119% |
| New | VANGUARD TOTAL STOCK MARKET ETF (VTI) | — | 0.1% | +0.1 pts | +3,834 sh | new |
| Reduced | VANGUARD CONSUMER STAPLES ETF (VDC) | 0.2% | 0.1% | −0.1 pts | −5,073 sh | −36% |
| Increased | JPMORGAN CHASE & CO. COM (JPM) | 0.7% | 0.7% | 0.0 pts | +3,747 sh | +11% |
| Increased | COSTCO WHSL CORP NEW COM (COST) | 0.5% | 0.5% | 0.0 pts | +1,053 sh | +15% |
The 50 largest of 788 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 — 29.6% of the equity book
Changes in the top 10 this quarter: DASH entered · META entered · PCY left · IEMG left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ISHARES CALIFORNIA MUNI BOND ETF (CMF) | 6.2% | 4.5% | |
| 2 | DOORDASH INC CL A (DASH) | 0.0% | 4.2% | Entered the top 10 |
| 3 | META PLATFORMS INC CL A (META) | 1.6% | 3.5% | Entered the top 10 |
| 4 | MICROSOFT CORP COM (MSFT) | 2.6% | 3.0% | |
| 5 | NVIDIA CORPORATION COM (NVDA) | 2.1% | 2.8% | |
| 6 | VANECK CLO ETF (CLOI) | 3.7% | 2.8% | |
| 7 | APPLE INC COM (AAPL) | 3.2% | 2.4% | |
| 8 | SPDR PORTFOLIO AGGREGATE BOND ETF (SPAB) | 2.8% | 2.2% | |
| 9 | ISHARES CORE S&P 500 ETF (IVV) | 2.6% | 2.1% | |
| 10 | INVESCO CALIFORNIA AMT-FREE MUNICIPAL BOND ETF (PWZ) | 2.0% | 2.1% | |
| — | INVESCO EMERGING MARKETS SOVEREIGN DEBT ETF (PCY) | 3.0% | 1.7% | Left the top 10 |
| — | ISHARES CORE MSCI EMERGING MARKETS ETF (IEMG) | 2.1% | 1.8% | 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).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | DOCUSIGN INC COM (DOCU) | Call | 0 | 87,400 | $6.81M |