# PATHSTONE FAMILY OFFICE, LLC

> Institutional holdings reported to the SEC as of Q3 2023 on Form 13F. CIK 1511137. Source: https://holderbook.com/funds/1511137-pathstone-family-office-llc/

- Reported value: $13.1B
- Positions: 1,656
- Weight of the ten largest: 39.2%
- Filed: 2023-11-08

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 |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.2B | 2,390,409 | 9.3% | 20 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $979.3M | 2,280,752 | 7.5% | 20 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $583.1M | 1,462,153 | 4.4% | 20 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $520.8M | 1,323,617 | 4.0% | 20 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $439.8M | 963,113 | 3.4% | 20 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $360.7M | 2,300,589 | 2.8% | 20 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $358.3M | 1,437,089 | 2.7% | 20 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $274.9M | 1,170,028 | 2.1% | 20 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $206.9M | 4,732,735 | 1.6% | 20 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $190.2M | 2,016,088 | 1.5% | 15 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $183.6M | 938,044 | 1.4% | 12 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $168.4M | 3,006,906 | 1.3% | 20 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $161.6M | 304 | 1.2% | 20 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $157.9M | 893,233 | 1.2% | 20 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $155.2M | 1,502,345 | 1.2% | 20 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $142.2M | 2,053,275 | 1.1% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $134.0M | 630,727 | 1.0% | 20 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $123.5M | 592,998 | 0.9% | 18 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $110.0M | 528,852 | 0.8% | 19 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $108.8M | 855,736 | 0.8% | 20 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $107.2M | 304,682 | 0.8% | 20 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $103.5M | 3,339,433 | 0.8% | 8 |
| KEURIG DR PEPPER INC | [KDP](https://holderbook.com/stocks/KDP/) | $99.7M | 3,159,283 | 0.8% | 5 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $92.8M | 367,636 | 0.7% | 20 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $92.2M | 801,808 | 0.7% | 19 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $89.0M | 70,079 | 0.7% | 20 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $83.1M | 629,210 | 0.6% | 20 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $82.2M | 188,560 | 0.6% | 20 |
| DIMENSIONAL ETF TRUST | [DFIC](https://holderbook.com/stocks/DFIC/) | $80.7M | 3,456,831 | 0.6% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $76.6M | 584,201 | 0.6% | 20 |
| EVERFORTH INC | [EFOR](https://holderbook.com/stocks/EFOR/) | $75.1M | 919,155 | 0.6% | 20 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $73.7M | 3,273,413 | 0.6% | 6 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $73.5M | 389,142 | 0.6% | 15 |
| ISHARES TR | [TLH](https://holderbook.com/stocks/TLH/) | $70.6M | 717,295 | 0.5% | 2 |
| DIMENSIONAL ETF TRUST | [DFLV](https://holderbook.com/stocks/DFLV/) | $70.5M | 2,842,817 | 0.5% | 4 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $67.8M | 248,947 | 0.5% | 20 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $61.9M | 1,301,672 | 0.5% | 19 |
| PLAINS ALL AMERN PIPELINE L | [PAA](https://holderbook.com/stocks/PAA/) | $59.2M | 3,867,152 | 0.5% | 20 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $59.0M | 663,369 | 0.4% | 20 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $56.2M | 98,573 | 0.4% | 20 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $53.2M | 1,086,522 | 0.4% | 5 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $53.0M | 3,863,471 | 0.4% | 20 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $52.9M | 379,628 | 0.4% | 13 |
| SILICON LABORATORIES INC | [SLAB](https://holderbook.com/stocks/SLAB/) | $50.8M | 438,779 | 0.4% | 12 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $50.5M | 345,155 | 0.4% | 20 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $48.5M | 1,054,754 | 0.4% | 15 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $48.3M | 1,088,505 | 0.4% | 20 |
| ISHARES TR | [SHYG](https://holderbook.com/stocks/SHYG/) | $45.8M | 1,116,401 | 0.3% | 4 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $41.0M | 336,521 | 0.3% | 15 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $40.3M | 5,038,517 | 0.3% | 20 |
| DIMENSIONAL ETF TRUST | [DFCF](https://holderbook.com/stocks/DFCF/) | $39.5M | 1,318,428 | 0.3% | 6 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $39.4M | 1,159,533 | 0.3% | 6 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $39.1M | 128,747 | 0.3% | 20 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $38.7M | 374,273 | 0.3% | 20 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $38.6M | 775,356 | 0.3% | 15 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $38.6M | 248,418 | 0.3% | 20 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $37.4M | 92,436 | 0.3% | 20 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $36.3M | 231,738 | 0.3% | 20 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $36.0M | 5,713,590 | 0.3% | 20 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $36.0M | 119,138 | 0.3% | 20 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $35.9M | 182,496 | 0.3% | 20 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $35.6M | 217,131 | 0.3% | 20 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $35.5M | 437,915 | 0.3% | 6 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $34.5M | 236,172 | 0.3% | 20 |
| ISHARES TR | [IWN](https://holderbook.com/stocks/IWN/) | $33.5M | 476,802 | 0.3% | 6 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $33.4M | 518,567 | 0.3% | 20 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $32.9M | 141,217 | 0.3% | 20 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $32.2M | 62,932 | 0.2% | 20 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $31.3M | 164,564 | 0.2% | 12 |
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $28.3M | 1,124,693 | 0.2% | 5 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $27.9M | 831,978 | 0.2% | 8 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $27.7M | 1,044,267 | 0.2% | 20 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $27.3M | 1,076,334 | 0.2% | 5 |
| VANGUARD SCOTTSDALE FDS | [VONV](https://holderbook.com/stocks/VONV/) | $27.2M | 407,398 | 0.2% | 8 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $26.7M | 352,772 | 0.2% | 20 |
| ISHARES TR | [SUB](https://holderbook.com/stocks/SUB/) | $26.6M | 258,386 | 0.2% | 13 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $26.3M | 222,922 | 0.2% | 20 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $26.2M | 48,177 | 0.2% | 20 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $26.1M | 277,487 | 0.2% | 19 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $26.1M | 153,525 | 0.2% | 20 |
| ISHARES TR | [IJJ](https://holderbook.com/stocks/IJJ/) | $25.8M | 255,717 | 0.2% | 4 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $25.5M | 253,306 | 0.2% | 4 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $25.3M | 169,603 | 0.2% | 19 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $25.0M | 39,876 | 0.2% | 20 |
| SPDR SERIES TRUST | [TFI](https://holderbook.com/stocks/TFI/) | $25.0M | 572,522 | 0.2% | 1 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $24.3M | 143,563 | 0.2% | 20 |
| VANGUARD INDEX FDS | [VBK](https://holderbook.com/stocks/VBK/) | $22.3M | 103,922 | 0.2% | 8 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $22.2M | 83,853 | 0.2% | 20 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $22.1M | 666,255 | 0.2% | 20 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $21.4M | 394,478 | 0.2% | 20 |
| ISHARES TR | [CMBS](https://holderbook.com/stocks/CMBS/) | $21.2M | 469,881 | 0.2% | 6 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $20.7M | 391,767 | 0.2% | 6 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $20.7M | 220,064 | 0.2% | 15 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $20.5M | 24,719 | 0.2% | 19 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $20.5M | 250,976 | 0.2% | 20 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $20.4M | 101,889 | 0.2% | 20 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $20.2M | 295,480 | 0.2% | 6 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $20.1M | 283,444 | 0.2% | 13 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $19.8M | 44,055 | 0.2% | 7 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $19.4M | 180,718 | 0.1% | 20 |

## 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 |
|---|---|---|---|---|
| Q3 2023 | -3.9% | -3.6% | -0.4% | 98% |
| Q2 2023 | +5.8% | +8.3% | -2.5% | 100% |
| Q1 2023 | +6.3% | +7.0% | -0.7% | 106% |
| Q4 2022 | +5.9% | +7.1% | -1.2% | 98% |
| Q3 2022 | -5.0% | -5.3% | +0.3% | 100% |
| Q2 2022 | -17.8% | -16.5% | -1.3% | 93% |
| Q1 2022 | -5.3% | -4.9% | -0.4% | 99% |
| Q4 2021 | +10.3% | +10.7% | -0.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2023 | $13.1B | 1,656 |
| Q2 2023 | $7.0B | 1,236 |
| Q1 2023 | $6.2B | 1,184 |
| Q4 2022 | $11.7B | 1,479 |
| Q3 2022 | $11.1B | 1,451 |
| Q2 2022 | $4.5B | 1,038 |
| Q1 2022 | $4.3B | 951 |
| Q4 2021 | $4.0B | 885 |
| Q3 2021 | $3.4B | 854 |
| Q2 2021 | $3.3B | 805 |
| Q1 2021 | $3.0B | 637 |
| Q4 2020 | $2.4B | 1,117 |