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Asset Manager ← All Institutions

Baer Investment Advisory LLC

7 PIXLEY AVE PO BOX 355, CORTE MADERA, CA 94925-1457 • (415) 717-1101

Q4 2025 · Filed 2026-01-21
Market Value
$72M
-10.3%
Holdings
28
New Purchases
3
Added To
11
Closed
5
Reduced
8
Top 10 Concentration
65.8%
Turnover
28.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ECL 5.33% 1.84% +3.50% $4M
IBM 3.02% 0.00% +3.02% $2M
RACE 2.75% 0.00% +2.75% $2M
EPD 3.57% 1.81% +1.76% $3M
CDNS 1.47% 0.00% +1.47% $1M
AMZN 8.47% 7.13% +1.34% $6M
ADI 6.94% 5.66% +1.29% $5M
APH 9.20% 8.10% +1.11% $7M
AAPL 5.29% 4.31% +0.98% $4M
CW 6.12% 5.19% +0.94% $4M
DE 5.43% 4.60% +0.83% $4M
TMO 2.44% 1.83% +0.62% $2M
EME 7.20% 6.67% +0.54% $5M
INTU 6.75% 6.26% +0.48% $5M
NVDA 4.57% 4.12% +0.44% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CSGP 0.00% 5.54% -5.54% $0
COST 0.00% 4.17% -4.17% $0
ZTS 0.00% 3.73% -3.73% $0
APD 0.00% 3.07% -3.07% $0
HD 0.00% 2.54% -2.54% $0
QQQ 0.30% 1.41% -1.11% $217K
VEEV 5.07% 5.81% -0.74% $4M
TXN 4.09% 4.38% -0.29% $3M
NFLX 3.03% 3.26% -0.23% $2M
MSFT 2.65% 2.71% -0.06% $2M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 74.1%
Technology 10.7%
Consumer Cyclical 3.4%
Industrials 3.4%
Communication Services 2.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 10 $23M 31.4%
Large Cap 17 $49M 68.5%
Mid Cap 1 $81K 0.1%

Portfolio Analytics

Avg Market Cap
$689.6B
Median Market Cap
$138.3B
Avg P/E
36.9
Median P/E
30.6
Avg Dividend Yield
0.01%
Avg Beta
1.13
# Stocks
27
# ETFs / Funds
1

Top Holdings (28 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 APH 9.20% 48,822 $7M $135.14 $126K -3,472 -6.6%
2 AMZN 8.47% 26,311 $6M $230.82 $374K +357 +1.4%
3 EME 7.20% 8,439 $5M $611.79 -$165K +236 +2.9%
4 ADI 6.94% 18,351 $5M $271.20 $454K -55 -0.3%
5 INTU 6.75% 7,301 $5M $662.42 -$171K -31 -0.4%
6 CW 6.12% 7,963 $4M $551.27 $242K +324 +4.2%
7 DE 5.43% 8,363 $4M $465.57 $218K +324 +4.0%
8 ECL 5.33% 14,561 $4M $262.52 $2M +9,202 +171.7%
9 AAPL 5.29% 13,938 $4M $271.86 $345K +410 +3.0%
10 VEEV 5.07% 16,286 $4M $223.23 -$1M +698 +4.5%
11 NVDA 4.57% 17,550 $3M $186.50 -$23K -115 -0.7%
12 TXN 4.09% 16,912 $3M $173.49 -$567K -2,144 -11.2%
13 URI 3.81% 3,372 $3M $809.32 -$256K +245 +7.8%
14 EPD 3.57% 79,774 $3M $32.06 $1M +33,549 +72.6%
15 NFLX 3.03% 23,198 $2M $93.76 -$430K +21,025 +967.6%
16 IBM 3.02% 7,306 $2M $296.21 +7,306 NEW
17 RACE 2.75% 5,330 $2M $369.56 +5,330 NEW
18 MSFT 2.65% 3,930 $2M $483.62 -$263K -247 -5.9%
19 TMO 2.44% 3,023 $2M $579.45 $292K +13 +0.4%
20 SHOP 2.36% 10,503 $2M $160.97 $66K -430 -3.9%
21 CDNS 1.47% 3,378 $1M $312.58 +3,378 NEW
22 QQQ 0.30% 354 $217K $614.31 -$909K -1,523 -81.1%
23 SNAP 0.11% 10,000 $81K $8.07 $4K
24 APD —% -$2M -9,001 -100.0% SOLD
25 ZTS —% -$3M -20,391 -100.0% SOLD
26 HD —% -$2M -5,006 -100.0% SOLD
27 CSGP —% -$4M -52,517 -100.0% SOLD
28 COST —% -$3M -3,602 -100.0% SOLD

Options Breakdown

16 Calls $31M Call Value 1 Puts $280K Put Value 0.01 P/C Ratio

Top Calls

SymbolSharesValueStatus
NVDA 1,354 $10M
TSM 680 $7M
MSFT 386 $4M
NFLX 906 $2M
CSGP 1,454 $2M
IBM 242 $1M NEW
TMO 69 $1M
CDNS 244 $1M
URI 54 $733K
AMZN 102 $634K

Top Puts

SymbolSharesValueStatus
QQQ 352 $280K NEW

New Positions

SymbolValue% Port
IBM $2M 3.02%
RACE $2M 2.75%
CDNS $1M 1.47%

Sold Out Positions

SymbolValue% Port
ZTS —%
APD —%
HD —%
COST —%
CSGP —%
View SEC EDGAR Filings for Baer Investment Advisory LLC →

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