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Castellan Group

2011 LAKE POINT WAY SUITE 001, LOUISVILLE, KY 40223 • (859) 494-2579

Q4 2025 · Filed 2026-01-23
Market Value
$212M
+144.0%
Holdings
56
+21
New Purchases
23
Added To
24
Closed
2
Reduced
4
Top 10 Concentration
39.0%
Turnover
44.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BOXX 5.20% 1.11% +4.09% $11M
AMZN 3.89% 0.00% +3.89% $8M
RSP 3.52% 0.00% +3.52% $7M
SPY 3.50% 0.00% +3.50% $7M
GOOG 5.48% 1.99% +3.49% $12M
MCK 3.14% 0.00% +3.14% $7M
NVDA 2.76% 0.00% +2.76% $6M
AAPL 3.13% 0.48% +2.65% $7M
VB 2.32% 0.00% +2.32% $5M
MSFT 3.90% 1.90% +1.99% $8M
USMV 1.83% 0.00% +1.83% $4M
AXP 1.61% 0.00% +1.61% $3M
V 1.54% 0.00% +1.54% $3M
CAT 1.45% 0.00% +1.45% $3M
BRK-B 1.44% 0.00% +1.44% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GLTR 3.68% 8.08% -4.40% $8M
XLE 3.04% 7.04% -4.00% $6M
ES 1.90% 4.71% -2.80% $4M
WEC 1.74% 4.42% -2.67% $4M
ATO 1.88% 4.47% -2.59% $4M
CTRE 2.03% 4.56% -2.53% $4M
NJR 1.73% 4.20% -2.47% $4M
DKL 1.78% 4.22% -2.44% $4M
TRNO 1.82% 4.11% -2.29% $4M
POR 1.95% 4.17% -2.22% $4M
NEE 1.96% 4.18% -2.21% $4M
EGP 1.82% 4.03% -2.21% $4M
FR 1.99% 4.19% -2.19% $4M
MPLX 1.79% 3.90% -2.11% $4M
GTY 1.59% 3.61% -2.02% $3M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 29.4%
Utilities 28.9%
Real Estate 19.0%
Energy 14.9%
Basic Materials 3.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 19 $84M 39.4%
Large Cap 20 $81M 38.2%
Mid Cap 13 $45M 21.2%
Small Cap 2 $529K 0.2%
Micro Cap 2 $2M 0.9%

Portfolio Analytics

Avg Market Cap
$656.5B
Median Market Cap
$95.9B
Avg P/E
28.0
Median P/E
22.6
Avg Dividend Yield
0.02%
Avg Beta
0.81
# Stocks
43
# ETFs / Funds
13

Top Holdings (56 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GOOG 5.48% 37,102 $12M $313.80 $10M +30,002 +422.6%
2 BOXX 5.20% 96,076 $11M $115.10 $10M +87,576 +1030.3%
3 MSFT 3.90% 17,119 $8M $483.62 $7M +13,919 +435.0%
4 AMZN 3.89% 35,809 $8M $230.82 +35,809 NEW
5 GLTR 3.68% 37,983 $8M $205.60 $776K -4,527 -10.7%
6 XOM 3.57% 62,973 $8M $120.34 $5M +35,749 +131.3%
7 RSP 3.52% 39,016 $7M $191.56 +39,016 NEW
8 SPY 3.50% 10,909 $7M $681.92 +10,909 NEW
9 MCK 3.14% 8,130 $7M $820.29 +8,130 NEW
10 AAPL 3.13% 24,502 $7M $271.86 $6M +22,860 +1392.2%
11 XLE 3.04% 144,446 $6M $44.71 $325K +75,792 +110.4%
12 NVDA 2.76% 31,477 $6M $186.50 +31,477 NEW
13 VB 2.32% 19,118 $5M $257.95 +19,118 NEW
14 CWEN 2.04% 130,242 $4M $33.26 $805K +5,386 +4.3%
15 CTRE 2.03% 119,420 $4M $36.16 $346K +4,877 +4.3%
16 FR 1.99% 73,957 $4M $57.27 $590K +3,133 +4.4%
17 NEE 1.96% 51,924 $4M $80.28 $531K +3,738 +7.8%
18 POR 1.95% 86,221 $4M $47.99 $508K +3,718 +4.5%
19 ES 1.90% 60,063 $4M $67.33 -$55K +2,437 +4.2%
20 META 1.88% 6,065 $4M $660.09 $3M +5,065 +506.5%
21 ATO 1.88% 23,793 $4M $167.63 $99K +1,013 +4.5%
22 USMV 1.83% 41,342 $4M $94.16 +41,342 NEW
23 TRNO 1.82% 65,971 $4M $58.71 $295K +2,928 +4.6%
24 EGP 1.82% 21,733 $4M $178.14 $360K +984 +4.7%
25 MPLX 1.79% 71,444 $4M $53.37 $415K +3,414 +5.0%
26 DKL 1.78% 84,732 $4M $44.62 $104K +3,989 +4.9%
27 WEC 1.74% 35,149 $4M $105.46 -$138K +1,593 +4.8%
28 NJR 1.73% 79,843 $4M $46.12 $23K +3,851 +5.1%
29 AXP 1.61% 9,237 $3M $369.95 +9,237 NEW
30 GTY 1.59% 123,676 $3M $27.37 $237K +6,358 +5.4%
31 V 1.54% 9,321 $3M $350.71 +9,321 NEW
32 CVX 1.47% 20,521 $3M $152.41 $158K +1,398 +7.3%
33 HESM 1.46% 89,963 $3M $34.50 $182K +5,385 +6.4%
34 CAT 1.45% 5,364 $3M $572.87 +5,364 NEW
35 BRK-B 1.44% 6,073 $3M $502.65 +6,073 NEW
36 IUSV 1.44% 29,740 $3M $102.54 +29,740 NEW
37 PANW 1.36% 15,704 $3M $184.20 +15,704 NEW
38 TT 1.36% 7,401 $3M $389.20 +7,401 NEW
39 WMT 1.31% 25,011 $3M $111.41 +25,011 NEW
40 UBER 1.16% 30,174 $2M $81.71 +30,174 NEW
41 TMO 0.99% 3,637 $2M $579.45 +3,637 NEW
42 INDA 0.89% 34,884 $2M $54.05 +34,884 NEW
43 HD 0.85% 5,232 $2M $344.10 +5,232 NEW
44 RIO 0.81% 21,548 $2M $80.03 $204K -1,492 -6.5%
45 BHP 0.77% 27,083 $2M $60.37 $133K +139 +0.5%
46 HON 0.74% 8,088 $2M $195.09 +8,088 NEW
47 DDFN 0.73% 81,187 $2M $19.17 +81,187 NEW
48 GOOGL 0.68% 4,600 $1M $313.00 $322K
49 PDEC 0.25% 12,186 $529K $43.38 -$213K -5,475 -31.0%
50 PGR 0.21% 2,000 $455K $227.72 -$38K
51 LRN 0.19% 6,340 $412K $64.93 -$533K
52 BMAR 0.19% 7,728 $410K $53.05 $915 -200 -2.5%
53 AVGO 0.12% 721 $250K $346.10 +721 NEW
54 JPM 0.10% 644 $208K $322.22 +644 NEW
55 HALO —% -$1M -16,000 -100.0% SOLD
56 BAPR —% -$336K -7,160 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 1 Puts $585K Put Value

Top Puts

SymbolSharesValueStatus
SPY 270 $585K NEW

New Positions

SymbolValue% Port
AMZN $8M 3.89%
RSP $7M 3.52%
SPY $7M 3.50%
MCK $7M 3.14%
NVDA $6M 2.76%
VB $5M 2.32%
USMV $4M 1.83%
AXP $3M 1.61%
V $3M 1.54%
CAT $3M 1.45%
BRK-B $3M 1.44%
IUSV $3M 1.44%
PANW $3M 1.36%
TT $3M 1.36%
WMT $3M 1.31%

Sold Out Positions

SymbolValue% Port
HALO —%
BAPR —%
View SEC EDGAR Filings for Castellan Group →

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