# Bristlecone Value Partners, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1313998. Source: https://holderbook.com/funds/1313998-bristlecone-value-partners-llc/

- Reported value: $124.3M
- Positions: 70
- Weight of the ten largest: 57.5%
- 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 |
|---|---|---|---|---|---|
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $16.7M | 234,679 | 13.4% | 3 |
| SCHWAB STRATEGIC TR | [FNDX](https://holderbook.com/stocks/FNDX/) | $11.6M | 371,784 | 9.3% | 3 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $10.5M | 44,193 | 8.4% | 3 |
| WISDOMTREE TR | [DGS](https://holderbook.com/stocks/DGS/) | $7.7M | 118,729 | 6.2% | 3 |
| VANGUARD WHITEHALL FDS | [VIGI](https://holderbook.com/stocks/VIGI/) | $4.8M | 51,562 | 3.9% | 3 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $4.6M | 6,697 | 3.7% | 2 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $4.4M | 29,802 | 3.6% | 3 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $4.3M | 41,546 | 3.4% | 3 |
| ISHARES TR | [REET](https://holderbook.com/stocks/REET/) | $3.5M | 126,409 | 2.8% | 3 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $3.5M | 47,276 | 2.8% | 3 |
| VANGUARD BD INDEX FDS | [VUSB](https://holderbook.com/stocks/VUSB/) | $3.3M | 66,007 | 2.6% | 3 |
| SPDR INDEX SHS FDS | [GNR](https://holderbook.com/stocks/GNR/) | $3.3M | 48,469 | 2.6% | 3 |
| CAPITAL GRP FIXED INCM ETF T | [CGCP](https://holderbook.com/stocks/CGCP/) | $2.6M | 117,825 | 2.1% | 3 |
| INVESCO EXCH TRADED FD TR II | [PICB](https://holderbook.com/stocks/PICB/) | $2.3M | 100,865 | 1.9% | 3 |
| SCHWAB STRATEGIC TR | [FNDF](https://holderbook.com/stocks/FNDF/) | $2.2M | 42,398 | 1.8% | 3 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $2.1M | 14,743 | 1.7% | 3 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.0M | 34,234 | 1.6% | 3 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $1.7M | 11,757 | 1.4% | 3 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $1.6M | 8,121 | 1.3% | 2 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $1.4M | 28,328 | 1.1% | 3 |
| FIRST TR EXCHANGE-TRADED FD | [FDM](https://holderbook.com/stocks/FDM/) | $1.4M | 14,565 | 1.1% | 3 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $1.3M | 6,075 | 1.1% | 2 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.3M | 2,669 | 1.1% | 2 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $1.3M | 2,291 | 1.1% | 2 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $1.3M | 654 | 1.0% | 2 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.2M | 3,484 | 0.9% | 2 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $1.2M | 22,795 | 0.9% | 3 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $1.0M | 7,608 | 0.8% | 2 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $1.0M | 20,188 | 0.8% | 3 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $977.2K | 11,859 | 0.8% | 3 |
| INVESCO EXCH TRADED FD TR II | [VRP](https://holderbook.com/stocks/VRP/) | $944.0K | 38,832 | 0.8% | 3 |
| SCHWAB STRATEGIC TR | [FNDC](https://holderbook.com/stocks/FNDC/) | $838.6K | 17,269 | 0.7% | 3 |
| GRAHAM HLDGS CO | [GHC](https://holderbook.com/stocks/GHC/) | $772.7K | 677 | 0.6% | 2 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $727.1K | 2,008 | 0.6% | 2 |
| HAGERTY INC | [HGTY](https://holderbook.com/stocks/HGTY/) | $716.3K | 60,093 | 0.6% | 3 |
| SCHWAB STRATEGIC TR | [FNDA](https://holderbook.com/stocks/FNDA/) | $655.9K | 17,232 | 0.5% | 3 |
| U HAUL HOLDING COMPANY | [UHALB](https://holderbook.com/stocks/UHALB/) | $609.4K | 10,561 | 0.5% | 3 |
| AGCO CORP | [AGCO](https://holderbook.com/stocks/AGCO/) | $602.2K | 5,031 | 0.5% | 2 |
| SPDR SERIES TRUST | [WIP](https://holderbook.com/stocks/WIP/) | $585.8K | 14,871 | 0.5% | 3 |
| NRG ENERGY INC | [NRG](https://holderbook.com/stocks/NRG/) | $568.2K | 3,890 | 0.5% | 2 |
| RADIANT LOGISTICS INC | [RLGT](https://holderbook.com/stocks/RLGT/) | $552.7K | 58,430 | 0.4% | 3 |
| CARMAX INC | [KMX](https://holderbook.com/stocks/KMX/) | $513.6K | 9,711 | 0.4% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $492.1K | 1,700 | 0.4% | 2 |
| KOPPERS HOLDINGS INC | [KOP](https://holderbook.com/stocks/KOP/) | $478.2K | 10,650 | 0.4% | 3 |
| CEMEX SA EURO MTN BE 144A | [CX](https://holderbook.com/stocks/CX/) | $476.2K | 39,680 | 0.4% | 3 |
| CORE MOLDING TECHNOLOGIES IN | [CMT](https://holderbook.com/stocks/CMT/) | $472.0K | 20,000 | 0.4% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $465.1K | 825 | 0.4% | 2 |
| BLACKROCK ETF TRUST II | [CALI](https://holderbook.com/stocks/CALI/) | $461.5K | 9,132 | 0.4% | 2 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $456.5K | 11,120 | 0.4% | 2 |
| MASTERCRAFT BOAT HLDGS INC | [MCFT](https://holderbook.com/stocks/MCFT/) | $438.9K | 17,000 | 0.4% | 3 |
| WISDOMTREE TR | [USFR](https://holderbook.com/stocks/USFR/) | $437.2K | 8,683 | 0.4% | 2 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $420.9K | 6,687 | 0.3% | 2 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $414.5K | 4,812 | 0.3% | 2 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $413.1K | 2,584 | 0.3% | 2 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $389.7K | 4,048 | 0.3% | 2 |
| MARINEMAX INC | [HZO](https://holderbook.com/stocks/HZO/) | $384.5K | 10,500 | 0.3% | 3 |
| TITAN MACHY INC | [TITN](https://holderbook.com/stocks/TITN/) | $359.0K | 17,000 | 0.3% | 3 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $341.8K | 7,037 | 0.3% | 2 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $340.7K | 50 | 0.3% | 2 |
| COMSTOCK HLDG COS INC | [CHCI](https://holderbook.com/stocks/CHCI/) | $330.7K | 20,680 | 0.3% | 3 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $317.6K | 4,060 | 0.3% | 2 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $315.2K | 6,109 | 0.3% | 2 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $306.0K | 1,093 | 0.2% | 2 |
| C & F FINL CORP | [CFFI](https://holderbook.com/stocks/CFFI/) | $284.5K | 3,556 | 0.2% | 2 |
| SUPERIOR GROUP OF CO INC | [SGC](https://holderbook.com/stocks/SGC/) | $256.4K | 19,542 | 0.2% | 2 |
| QUAD / GRAPHICS INC | [QUAD](https://holderbook.com/stocks/QUAD/) | $252.9K | 30,000 | 0.2% | 2 |
| EASTERN CO | [EML](https://holderbook.com/stocks/EML/) | $250.7K | 9,000 | 0.2% | 1 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $235.9K | 1,505 | 0.2% | 2 |
| FOSTER L B CO | [FSTR](https://holderbook.com/stocks/FSTR/) | $234.6K | 5,194 | 0.2% | 1 |
| POLARIS INC | [PII](https://holderbook.com/stocks/PII/) | $205.5K | 3,003 | 0.2% | 1 |

## 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 | +8.7% | +14.8% | -6.2% | 100% |
| Q1 2026 | +2.4% | -4.6% | +7.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $124.3M | 70 |
| Q1 2026 | $113.6M | 68 |
| Q4 2025 | $86.7M | 36 |