# PALLADIUM PARTNERS LLC

> Institutional holdings reported to the SEC as of Q1 2022 on Form 13F. CIK 1436871. Source: https://holderbook.com/funds/1436871-palladium-partners-llc/

- Reported value: $2.3B
- Positions: 332
- Weight of the ten largest: 31.3%
- Filed: 2022-04-26

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 |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $164.5M | 941,885 | 7.2% | 14 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $104.9M | 340,244 | 4.6% | 14 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $97.0M | 2,019,731 | 4.3% | 14 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $66.7M | 23,969 | 2.9% | 14 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $53.9M | 118,811 | 2.4% | 14 |
| ISHARES TR | [IJJ](https://holderbook.com/stocks/IJJ/) | $49.5M | 451,072 | 2.2% | 14 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $48.7M | 162,549 | 2.1% | 14 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $43.7M | 320,582 | 1.9% | 14 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $43.4M | 151,670 | 1.9% | 14 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $42.3M | 259,613 | 1.9% | 14 |
| WISDOMTREE TR | [DGS](https://holderbook.com/stocks/DGS/) | $38.7M | 726,183 | 1.7% | 14 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $36.6M | 206,397 | 1.6% | 14 |
| SPDR SERIES TRUST | [SLYV](https://holderbook.com/stocks/SLYV/) | $35.7M | 428,628 | 1.6% | 14 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $33.3M | 93,265 | 1.5% | 14 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $30.4M | 66,766 | 1.3% | 14 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $30.0M | 200,493 | 1.3% | 14 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $27.6M | 54,103 | 1.2% | 14 |
| DISCOVER FINL SVCS | [DFS](https://holderbook.com/stocks/DFS/) | $26.9M | 243,771 | 1.2% | 14 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $26.8M | 160,234 | 1.2% | 14 |
| FIRST TR EXCHNG TRADED FD VI | [DEED](https://holderbook.com/stocks/DEED/) | $26.6M | 1,103,670 | 1.2% | 6 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $25.6M | 186,761 | 1.1% | 14 |
| ISHARES TR | [IQLT](https://holderbook.com/stocks/IQLT/) | $25.5M | 692,414 | 1.1% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $24.3M | 436,433 | 1.1% | 14 |
| PIMCO ETF TR | [SMMU](https://holderbook.com/stocks/SMMU/) | $23.5M | 470,433 | 1.0% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $22.7M | 447,561 | 1.0% | 10 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $22.6M | 79,068 | 1.0% | 14 |
| EASTMAN CHEM CO | [EMN](https://holderbook.com/stocks/EMN/) | $21.8M | 193,200 | 1.0% | 14 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $21.7M | 87,717 | 1.0% | 14 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $21.7M | 206,480 | 1.0% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $21.6M | 34,326 | 0.9% | 14 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $20.8M | 504,809 | 0.9% | 14 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $20.3M | 207,438 | 0.9% | 14 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $20.2M | 6,186 | 0.9% | 14 |
| PIMCO ETF TR | [LDUR](https://holderbook.com/stocks/LDUR/) | $20.2M | 206,677 | 0.9% | 3 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $20.2M | 243,482 | 0.9% | 14 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $20.1M | 428,683 | 0.9% | 14 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $19.8M | 147,144 | 0.9% | 14 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $18.7M | 24,436 | 0.8% | 14 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $18.2M | 85,038 | 0.8% | 14 |
| J P MORGAN EXCHANGE TRADED F | [JVAL](https://holderbook.com/stocks/JVAL/) | $18.0M | 486,560 | 0.8% | 10 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $17.9M | 212,218 | 0.8% | 14 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $17.1M | 345,225 | 0.8% | 14 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $17.0M | 76,464 | 0.7% | 14 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $16.5M | 37,351 | 0.7% | 14 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $15.9M | 134,724 | 0.7% | 10 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $15.6M | 211,774 | 0.7% | 14 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $15.4M | 306,968 | 0.7% | 9 |
| MASCO CORP | [MAS](https://holderbook.com/stocks/MAS/) | $15.1M | 296,990 | 0.7% | 14 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $14.9M | 30,435 | 0.7% | 14 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $14.3M | 281,332 | 0.6% | 14 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $13.6M | 306,666 | 0.6% | 5 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $13.0M | 85,192 | 0.6% | 14 |
| JABIL INC | [JBL](https://holderbook.com/stocks/JBL/) | $13.0M | 210,238 | 0.6% | 5 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $12.1M | 234,207 | 0.5% | 14 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $11.9M | 144,304 | 0.5% | 14 |
| CERNER CORP | [CERN](https://holderbook.com/stocks/CERN/) | $11.8M | 126,111 | 0.5% | 10 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $11.7M | 137,554 | 0.5% | 14 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $11.7M | 48,240 | 0.5% | 14 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $11.6M | 32,803 | 0.5% | 14 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $11.3M | 90,849 | 0.5% | 14 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $11.3M | 198,933 | 0.5% | 10 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $9.8M | 161,819 | 0.4% | 9 |
| LAM RESEARCH CORP | [LRCXXXXX](https://holderbook.com/stocks/LRCXXXXX/) | $9.4M | 17,368 | 0.4% | 2 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $9.2M | 22,388 | 0.4% | 10 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $9.1M | 90,209 | 0.4% | 14 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $9.1M | 67,613 | 0.4% | 14 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $8.8M | 28,621 | 0.4% | 10 |
| ISHARES TR | [ISTB](https://holderbook.com/stocks/ISTB/) | $8.6M | 177,253 | 0.4% | 5 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $8.5M | 135,906 | 0.4% | 14 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $8.5M | 110,882 | 0.4% | 14 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $8.4M | 35,162 | 0.4% | 10 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $8.3M | 100,218 | 0.4% | 14 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $8.3M | 75,712 | 0.4% | 1 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $8.3M | 212,504 | 0.4% | 4 |
| SPDR SERIES TRUST | [SPSB](https://holderbook.com/stocks/SPSB/) | $8.2M | 272,819 | 0.4% | 14 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $7.9M | 34,380 | 0.3% | 14 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $7.5M | 28,113 | 0.3% | 14 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $7.2M | 39,336 | 0.3% | 14 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $7.0M | 32,892 | 0.3% | 1 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $7.0M | 77,195 | 0.3% | 14 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $6.9M | 42,519 | 0.3% | 14 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $6.7M | 148,922 | 0.3% | 14 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $6.5M | 40,261 | 0.3% | 14 |
| DOLLAR TREE INC | [DLTR](https://holderbook.com/stocks/DLTR/) | $6.2M | 38,956 | 0.3% | 14 |
| UDR INC | [UDR](https://holderbook.com/stocks/UDR/) | $6.1M | 106,913 | 0.3% | 14 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $6.1M | 51,586 | 0.3% | 14 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $5.9M | 110,080 | 0.3% | 14 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $5.8M | 17,118 | 0.3% | 7 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $5.8M | 101,261 | 0.3% | 14 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $5.8M | 21,461 | 0.3% | 14 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $5.8M | 42,644 | 0.3% | 14 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $5.7M | 66,752 | 0.2% | 14 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $5.5M | 1,969 | 0.2% | 14 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $5.4M | 62,852 | 0.2% | 14 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $5.3M | 71,896 | 0.2% | 14 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $5.1M | 25,062 | 0.2% | 14 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $5.1M | 23,882 | 0.2% | 14 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $5.0M | 50,206 | 0.2% | 8 |
| TOWNEBANK PORTSMOUTH VA | [TOWN](https://holderbook.com/stocks/TOWN/) | $4.8M | 157,941 | 0.2% | 14 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $4.6M | 23,470 | 0.2% | 14 |

## 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 |
|---|---|---|---|---|
| Q1 2022 | -3.8% | -4.9% | +1.1% | 99% |
| Q4 2021 | +8.5% | +10.7% | -2.2% | 100% |
| Q3 2021 | -0.5% | +0.3% | -0.8% | 100% |
| Q2 2021 | +5.8% | +8.0% | -2.2% | 100% |
| Q1 2021 | +6.8% | +6.0% | +0.8% | 100% |
| Q4 2020 | +12.2% | +11.6% | +0.5% | 100% |
| Q3 2020 | +6.8% | +8.6% | -1.8% | 100% |
| Q2 2020 | +18.2% | +19.6% | -1.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2022 | $2.3B | 332 |
| Q4 2021 | $2.4B | 339 |
| Q3 2021 | $2.2B | 288 |
| Q2 2021 | $2.1B | 282 |
| Q1 2021 | $2.0B | 279 |
| Q4 2020 | $1.8B | 252 |
| Q3 2020 | $1.6B | 244 |
| Q2 2020 | $1.5B | 243 |
| Q1 2020 | $1.2B | 237 |
| Q4 2019 | $1.6B | 260 |
| Q3 2019 | $1.4B | 248 |
| Q2 2019 | $1.4B | 260 |