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Asset Manager ← All Institutions

LYELL WEALTH MANAGEMENT, LP

3000 SAND HILL ROAD, BUILDING ONE SUITE 135, MENLO PARK, CA 94025 • 650-353-3692

Q4 2025 · Filed 2026-02-12
Market Value
$1.4B
+2.6%
Holdings
219
-5
New Purchases
8
Added To
112
Closed
7
Reduced
64
Top 10 Concentration
32.9%
Turnover
6.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 4.13% 2.76% +1.37% $57M
ISRG 1.54% 1.21% +0.33% $21M
GOOG 1.94% 1.67% +0.27% $27M
TMO 1.44% 1.18% +0.26% $20M
AMD 1.20% 0.95% +0.25% $17M
CAT 1.55% 1.34% +0.20% $21M
AAPL 3.62% 3.43% +0.18% $50M
AVGO 0.58% 0.40% +0.17% $8M
TJX 0.17% 0.00% +0.17% $2M
SMH 2.03% 1.87% +0.15% $28M
AMZN 2.92% 2.77% +0.15% $40M
OWL 0.75% 0.61% +0.13% $10M
XLV 0.49% 0.35% +0.13% $7M
IBDU 0.82% 0.70% +0.13% $11M
MS 1.41% 1.28% +0.13% $19M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBDQ 0.00% 0.48% -0.48% $0
ZTS 0.06% 0.49% -0.43% $845K
NOW 1.45% 1.81% -0.36% $20M
WDAY 1.11% 1.46% -0.34% $15M
NVDA 7.84% 8.18% -0.34% $108M
VEEV 0.88% 1.20% -0.32% $12M
PANW 2.26% 2.56% -0.30% $31M
META 2.59% 2.83% -0.24% $36M
LEN 0.59% 0.82% -0.23% $8M
HD 1.15% 1.37% -0.21% $16M
DHI 1.29% 1.50% -0.21% $18M
UBER 1.16% 1.37% -0.21% $16M
TTD 0.11% 0.28% -0.17% $2M
EXTR 0.70% 0.87% -0.17% $10M
COST 1.84% 1.99% -0.15% $25M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 32.2%
Financial Services 25.2%
Communication Services 14.0%
Industrials 9.1%
Consumer Cyclical 7.6%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 56 $689M 49.9%
Large Cap 132 $590M 42.7%
Mid Cap 21 $86M 6.2%
Small Cap 8 $15M 1.1%
Micro Cap 2 $497K 0.0%

Portfolio Analytics

Avg Market Cap
$297.8B
Median Market Cap
$87.8B
Avg P/E
42.6
Median P/E
28.9
Avg Dividend Yield
0.01%
Avg Beta
1.01
# Stocks
148
# ETFs / Funds
71

Top Holdings (219 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 7.84% 580,723 $108M $186.50 -$2M -9,805 -1.7%
2 GOOGL 4.13% 182,232 $57M $313.00 $20M +29,253 +19.1%
3 AAPL 3.62% 183,761 $50M $271.86 $4M +2,236 +1.2%
4 MSFT 3.23% 92,149 $45M $483.62 -$555K +5,036 +5.8%
5 AMZN 2.92% 174,649 $40M $230.82 $3M +4,855 +2.9%
6 META 2.59% 54,105 $36M $660.09 -$2M +2,245 +4.3%
7 JPM 2.35% 100,817 $32M $322.22 $2M +4,144 +4.3%
8 PANW 2.26% 169,410 $31M $184.20 -$3M +438 +0.3%
9 SMH 2.03% 77,668 $28M $360.13 $3M +399 +0.5%
10 GOOG 1.94% 85,356 $27M $313.80 $4M -6,965 -7.5%
11 SHOP 1.92% 164,895 $27M $160.97 $2M +127 +0.1%
12 APH 1.86% 189,944 $26M $135.14 $2M -5,331 -2.7%
13 COST 1.84% 29,496 $25M $862.34 -$1M +563 +1.9%
14 INTU 1.58% 33,026 $22M $662.42 -$716K -58 -0.2%
15 ASML 1.58% 20,429 $22M $1,069.86 $2M -71 -0.3%
16 CAT 1.55% 37,245 $21M $572.87 $3M -610 -1.6%
17 ISRG 1.54% 37,486 $21M $566.36 $5M +1,100 +3.0%
18 TSM 1.51% 68,788 $21M $303.89 $2M -14 -0.0%
19 NOW 1.45% 130,385 $20M $153.19 -$4M +103,931 +392.9%
20 TMO 1.44% 34,223 $20M $579.45 $4M +1,453 +4.4%
21 MS 1.41% 109,762 $19M $177.53 $2M +964 +0.9%
22 NFLX 1.40% 206,381 $19M $93.76 -$718K +189,642 +1132.9%
23 V 1.38% 54,369 $19M $350.71 $959K +1,322 +2.5%
24 DHI 1.29% 123,307 $18M $144.03 -$2M +4,470 +3.8%
25 VRT 1.24% 105,491 $17M $162.01 $1M -565 -0.5%
26 AMD 1.20% 77,387 $17M $214.16 $4M -1,797 -2.3%
27 CDNS 1.18% 52,277 $16M $312.58 -$1M +1,493 +2.9%
28 PWR 1.18% 38,459 $16M $422.06 $898K +1,457 +3.9%
29 UBER 1.16% 196,782 $16M $81.71 -$2M +8,367 +4.4%
30 HD 1.15% 46,335 $16M $344.10 -$2M +848 +1.9%
31 IDXX 1.14% 23,313 $16M $676.53 $964K +136 +0.6%
32 WDAY 1.11% 71,598 $15M $214.78 -$4M -9,963 -12.2%
33 GLD 1.04% 36,330 $14M $396.31 -$39K -4,284 -10.6%
34 SYK 1.03% 40,610 $14M $351.47 $29K +2,077 +5.4%
35 WMT 1.00% 123,925 $14M $111.41 $1M +3,515 +2.9%
36 CRM 1.00% 52,094 $14M $264.91 -$163K -6,821 -11.6%
37 SNOW 0.96% 60,560 $13M $219.36 $123K +2,206 +3.8%
38 TOL 0.94% 95,644 $13M $135.22 $293K +4,147 +4.5%
39 IBDS 0.92% 521,963 $13M $24.28 $2M +77,683 +17.5%
40 IBDT 0.88% 479,315 $12M $25.45 $2M +75,950 +18.8%
41 VEEV 0.88% 54,589 $12M $223.23 -$4M +453 +0.8%
42 IBDR 0.87% 498,249 $12M $24.23 $2M +63,388 +14.6%
43 BRK-B 0.85% 23,378 $12M $502.65 $2M +3,029 +14.9%
44 IBDU 0.82% 486,066 $11M $23.41 $2M +86,833 +21.8%
45 MA 0.82% 19,844 $11M $570.88 $346K +536 +2.8%
46 SPY 0.80% 16,101 $11M $681.94 $169K -127 -0.8%
47 NET 0.75% 52,369 $10M $197.15 -$859K +253 +0.5%
48 OWL 0.75% 689,455 $10M $14.94 $2M +202,569 +41.6%
49 IBDV 0.72% 452,987 $10M $22.07 $2M +80,761 +21.7%
50 EXTR 0.70% 582,345 $10M $16.65 -$2M +13,354 +2.4%
51 HON 0.69% 48,959 $10M $195.09 -$2M -4,647 -8.7%
52 DLR 0.66% 58,992 $9M $154.71 -$1M -601 -1.0%
53 BR 0.66% 40,619 $9M $223.17 -$363K +1,036 +2.6%
54 XLI 0.64% 57,372 $9M $155.12 -$77K -829 -1.4%
55 BLK 0.64% 8,302 $9M $1,070.38 -$240K +474 +6.1%
56 DE 0.64% 18,922 $9M $465.57 $1M +2,440 +14.8%
57 TMUS 0.60% 41,038 $8M $203.04 -$1M +1,656 +4.2%
58 ABT 0.60% 65,999 $8M $125.29 -$659K -657 -1.0%
59 LEN 0.59% 78,699 $8M $102.80 -$3M -8,563 -9.8%
60 AVGO 0.58% 22,983 $8M $346.10 $3M +6,570 +40.0%
61 VOO 0.53% 11,706 $7M $627.11 $709K +876 +8.1%
62 UNP 0.52% 31,229 $7M $231.32 -$801K -2,723 -8.0%
63 IBDW 0.51% 332,277 $7M $21.15 $957K +46,181 +16.1%
64 XLV 0.49% 43,410 $7M $154.80 $2M +9,265 +27.1%
65 IBDX 0.48% 260,065 $7M $25.53 $723K +29,140 +12.6%
66 FCX 0.46% 124,165 $6M $50.79 $803K -16,153 -11.5%
67 GWRE 0.39% 26,952 $5M $201.01 -$837K -260 -1.0%
68 BAC 0.36% 89,783 $5M $55.00 $345K +745 +0.8%
69 XLK 0.35% 33,977 $5M $143.97 -$169K +16,022 +89.2%
70 IBDY 0.33% 173,645 $5M $26.14 $1M +55,375 +46.8%
71 DIS 0.29% 35,523 $4M $113.77 -$447K -3,677 -9.4%
72 CVX 0.29% 26,223 $4M $152.41 $114K +1,217 +4.9%
73 IVV 0.28% 5,594 $4M $684.94 -$255K -512 -8.4%
74 RSP 0.22% 16,026 $3M $191.56 $455K +2,242 +16.3%
75 LLY 0.21% 2,714 $3M $1,074.68 $1M +305 +12.7%
76 QQQ 0.21% 4,669 $3M $614.33 -$143K -347 -6.9%
77 TIP 0.19% 24,078 $3M $109.91 -$108K -690 -2.8%
78 OUNZ 0.19% 61,795 $3M $41.48 -$282K -14,700 -19.2%
79 SLB 0.18% 65,062 $2M $38.38 $249K -352 -0.5%
80 TSLA 0.18% 5,379 $2M $449.72 $638K +1,375 +34.3%
81 MU 0.17% 8,455 $2M $285.41 $837K -962 -10.2%
82 XOM 0.17% 19,773 $2M $120.34 $9K -1,248 -5.9%
83 TJX 0.17% 15,145 $2M $153.61 +15,145 NEW
84 IJR 0.17% 19,201 $2M $120.18 $668K +5,406 +39.2%
85 IWM 0.17% 9,324 $2M $246.16 $51K +50 +0.5%
86 IJH 0.16% 33,485 $2M $66.00 -$248K -4,175 -11.1%
87 IBDZ 0.16% 82,610 $2M $26.37 $2M +64,885 +366.1%
88 XLE 0.15% 44,851 $2M $44.71 -$244K +19,671 +78.1%
89 IBB 0.13% 10,830 $2M $168.77 $897K +4,380 +67.9%
90 RDDT 0.13% 7,837 $2M $229.87 -$47K -200 -2.5%
91 COP 0.13% 18,944 $2M $93.61 -$367K -3,683 -16.3%
92 AXP 0.12% 4,477 $2M $369.95 $260K +272 +6.5%
93 JNJ 0.12% 7,943 $2M $206.95 $278K +577 +7.8%
94 EFA 0.11% 16,511 $2M $96.03 $41K -31 -0.2%
95 IWF 0.11% 3,320 $2M $473.30 $16K
96 CRVL 0.11% 22,948 $2M $67.67 -$413K -2,450 -9.7%
97 TTD 0.11% 40,000 $2M $37.96 -$2M -37,522 -48.4%
98 LOW 0.11% 6,173 $1M $241.16 -$48K +59 +1.0%
99 RTX 0.11% 8,047 $1M $183.40 $236K +639 +8.6%
100 TEL 0.11% 6,381 $1M $227.51 $66K +69 +1.1%

New Positions

SymbolValue% Port
TJX $2M 0.17%
ILMN $349K 0.03%
AKRE $324K 0.02%
SOLS $309K 0.02%
SAP $264K 0.02%
C $242K 0.02%
PNC $216K 0.02%
APP $205K 0.01%

Sold Out Positions

SymbolValue% Port
TWLO —%
CCI —%
EPD —%
LNG —%
TGT —%
TEX —%
IBDQ —%
View SEC EDGAR Filings for LYELL WEALTH MANAGEMENT, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms