# MAI Capital Management

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1040197. Source: https://holderbook.com/funds/1040197-mai-capital-management/

- Reported value: $26.6B
- Positions: 1,889
- Weight of the ten largest: 26.8%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.9B | 2,471,229 | 7.0% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $932.8M | 1,195,510 | 3.5% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $889.2M | 2,971,008 | 3.3% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $608.3M | 2,595,858 | 2.3% | 26 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $595.4M | 7,497,358 | 2.2% | 7 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $501.8M | 7,043,460 | 1.9% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $482.5M | 1,278,730 | 1.8% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $438.0M | 1,183,594 | 1.6% | 31 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $433.1M | 5,616,598 | 1.6% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $391.0M | 1,034,127 | 1.5% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $352.3M | 1,458,599 | 1.3% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $346.1M | 5,797,638 | 1.3% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $315.2M | 815,842 | 1.2% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $314.3M | 422,826 | 1.2% | 31 |
| SCHWAB STRATEGIC TR | [SCHP](https://holderbook.com/stocks/SCHP/) | $305.8M | 11,540,399 | 1.1% | 7 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $303.9M | 2,048,983 | 1.1% | 31 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $293.0M | 1,238,223 | 1.1% | 31 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $278.3M | 1,225,815 | 1.0% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $253.6M | 666,214 | 1.0% | 31 |
| FLEXSHARES TR | [GUNR](https://holderbook.com/stocks/GUNR/) | $251.5M | 5,103,843 | 0.9% | 10 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $244.1M | 355,449 | 0.9% | 31 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $243.6M | 2,521,994 | 0.9% | 31 |
| TIDAL TRUST I | [RPAR](https://holderbook.com/stocks/RPAR/) | $220.2M | 9,891,779 | 0.8% | 1 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $205.3M | 409,615 | 0.8% | 31 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $202.9M | 2,449,784 | 0.8% | 31 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $199.1M | 1,603,274 | 0.7% | 31 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $190.6M | 271,019 | 0.7% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $185.3M | 870,981 | 0.7% | 25 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $179.9M | 549,021 | 0.7% | 31 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $172.1M | 4,171,293 | 0.6% | 16 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $169.4M | 3,277,574 | 0.6% | 16 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $167.2M | 555,936 | 0.6% | 31 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $156.7M | 719,031 | 0.6% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $155.3M | 127,320 | 0.6% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $155.2M | 616,940 | 0.6% | 31 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $154.7M | 1,124,765 | 0.6% | 31 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $152.6M | 1,002,472 | 0.6% | 31 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $150.6M | 411,508 | 0.6% | 23 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $141.8M | 1,408,479 | 0.5% | 7 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $141.5M | 249,508 | 0.5% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $139.5M | 548,420 | 0.5% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $138.8M | 404,286 | 0.5% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $127.0M | 1,080,805 | 0.5% | 31 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $126.7M | 806,928 | 0.5% | 14 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $121.4M | 246,513 | 0.5% | 31 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $117.5M | 2,338,765 | 0.4% | 7 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $117.0M | 2,010,515 | 0.4% | 7 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $113.9M | 1,441,743 | 0.4% | 7 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $112.2M | 1,025,179 | 0.4% | 7 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $110.2M | 1,113,048 | 0.4% | 7 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $107.3M | 114,078 | 0.4% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $106.3M | 559,638 | 0.4% | 25 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $104.0M | 2,587,135 | 0.4% | 16 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $100.6M | 278,226 | 0.4% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $99.6M | 158,471 | 0.4% | 7 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $96.2M | 1,835,731 | 0.4% | 7 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $96.0M | 1,114,224 | 0.4% | 31 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $95.2M | 1,006,787 | 0.4% | 7 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $92.7M | 382,514 | 0.3% | 31 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $91.2M | 891,372 | 0.3% | 14 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $88.9M | 466,772 | 0.3% | 30 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $87.7M | 597,391 | 0.3% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $87.7M | 630,969 | 0.3% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $87.4M | 243,286 | 0.3% | 31 |
| VANGUARD SCOTTSDALE FDS | [VONE](https://holderbook.com/stocks/VONE/) | $86.9M | 256,565 | 0.3% | 26 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $85.6M | 728,317 | 0.3% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $84.9M | 540,619 | 0.3% | 10 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $77.9M | 686,633 | 0.3% | 31 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $77.2M | 646,089 | 0.3% | 31 |
| VANGUARD SCOTTSDALE FDS | [VTWO](https://holderbook.com/stocks/VTWO/) | $76.2M | 627,845 | 0.3% | 7 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $73.8M | 977,186 | 0.3% | 7 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $72.6M | 2,289,163 | 0.3% | 23 |
| BLACKROCK ETF TRUST II | [BINC](https://holderbook.com/stocks/BINC/) | $71.7M | 1,370,765 | 0.3% | 7 |
| PGIM ETF TR | [PULS](https://holderbook.com/stocks/PULS/) | $71.5M | 1,443,174 | 0.3% | 7 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $70.9M | 2,095,721 | 0.3% | 23 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $70.5M | 65,076 | 0.3% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $70.1M | 88,673 | 0.3% | 27 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $70.0M | 119,373 | 0.3% | 26 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $67.9M | 224,136 | 0.3% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $67.9M | 1,192,229 | 0.3% | 31 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $66.2M | 686,315 | 0.2% | 23 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $64.2M | 150,471 | 0.2% | 31 |
| ISHARES TR | [SLQD](https://holderbook.com/stocks/SLQD/) | $64.2M | 1,274,393 | 0.2% | 7 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $64.1M | 340,268 | 0.2% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $63.8M | 54,792 | 0.2% | 23 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $63.6M | 1,196,329 | 0.2% | 7 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $63.5M | 123,715 | 0.2% | 31 |
| INVESCO EXCH TRD SLF IDX FD | [BSCR](https://holderbook.com/stocks/BSCR/) | $61.8M | 3,152,593 | 0.2% | 7 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $61.8M | 145,539 | 0.2% | 31 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $60.4M | 201,925 | 0.2% | 23 |
| ISHARES TR | [QLTA](https://holderbook.com/stocks/QLTA/) | $59.8M | 1,258,329 | 0.2% | 7 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $59.6M | 406,171 | 0.2% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $59.1M | 354,342 | 0.2% | 31 |
| ISHARES TR | [IWN](https://holderbook.com/stocks/IWN/) | $57.0M | 257,908 | 0.2% | 31 |
| SPDR SERIES TRUST | [SPAB](https://holderbook.com/stocks/SPAB/) | $56.8M | 2,226,732 | 0.2% | 7 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $56.0M | 55,352 | 0.2% | 31 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $55.4M | 162,529 | 0.2% | 31 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $55.3M | 500,852 | 0.2% | 31 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $54.6M | 1,969,550 | 0.2% | 23 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $52.2M | 641,776 | 0.2% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.2% | +14.8% | -3.7% | 99% |
| Q1 2026 | -2.4% | -4.6% | +2.2% | 99% |
| Q4 2025 | +1.6% | +2.4% | -0.7% | 99% |
| Q3 2025 | +6.7% | +7.8% | -1.1% | 99% |
| Q2 2025 | +7.8% | +10.5% | -2.7% | 100% |
| Q1 2025 | -3.0% | -4.6% | +1.6% | 99% |
| Q4 2024 | +1.0% | +2.1% | -1.2% | 98% |
| Q3 2024 | +6.2% | +5.4% | +0.8% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $26.6B | 1,889 |
| Q1 2026 | $17.7B | 4,808 |
| Q4 2025 | $17.4B | 4,149 |
| Q3 2025 | $16.1B | 3,603 |
| Q2 2025 | $14.5B | 3,775 |
| Q1 2025 | $13.3B | 3,267 |
| Q4 2024 | $13.5B | 3,327 |
| Q3 2024 | $10.5B | 1,064 |
| Q2 2024 | $10.2B | 1,223 |
| Q1 2024 | $9.7B | 1,191 |
| Q4 2023 | $7.6B | 1,090 |
| Q3 2023 | $6.7B | 1,043 |