# Sippican Capital Advisors

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1557406. Source: https://holderbook.com/funds/1557406-sippican-capital-advisors/

- Reported value: $163.9M
- Positions: 111
- Weight of the ten largest: 26.8%
- Filed: 2026-07-22

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 |
|---|---|---|---|---|---|
| BANCORP INC DEL | [TBBK](https://holderbook.com/stocks/TBBK/) | $9.1M | 146,021 | 5.6% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $5.5M | 14,782 | 3.4% | 20 |
| TRIUMPH FINANCIAL INC | [TFIN](https://holderbook.com/stocks/TFIN/) | $5.4M | 70,198 | 3.3% | 20 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.7M | 10,475 | 2.3% | 30 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $3.5M | 60,689 | 2.1% | 31 |
| ALERUS FINL CORP | [ALRS](https://holderbook.com/stocks/ALRS/) | $3.5M | 111,891 | 2.1% | 12 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $3.3M | 488 | 2.0% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $3.3M | 2,769 | 2.0% | 31 |
| COLUMBIA BKG SYS INC | [COLB](https://holderbook.com/stocks/COLB/) | $3.3M | 103,527 | 2.0% | 11 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $3.3M | 12,947 | 2.0% | 31 |
| CUSTOMERS BANCORP INC | [CUBI](https://holderbook.com/stocks/CUBI/) | $3.1M | 39,754 | 1.9% | 9 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $3.1M | 22,987 | 1.9% | 31 |
| EAGLE BANCORPORATION INC | [EGBN](https://holderbook.com/stocks/EGBN/) | $3.1M | 110,517 | 1.9% | 5 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $3.0M | 18,652 | 1.8% | 19 |
| FIDELITY 500 INDEX | - | $2.9M | 10,959 | 1.7% | 24 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.8M | 22,030 | 1.7% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.8M | 11,826 | 1.7% | 11 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $2.8M | 16,988 | 1.7% | 31 |
| GOODYEAR TIRE & RUBR CO | [GT](https://holderbook.com/stocks/GT/) | $2.8M | 421,755 | 1.7% | 7 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $2.8M | 18,842 | 1.7% | 22 |
| METROPOLITAN BK HLDG CORP | [MCB](https://holderbook.com/stocks/MCB/) | $2.7M | 27,676 | 1.7% | 9 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $2.6M | 20,602 | 1.6% | 24 |
| FLAGSTAR BANK NATIONAL ASSOC | [FLG](https://holderbook.com/stocks/FLG/) | $2.6M | 173,565 | 1.6% | 4 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $2.5M | 9,023 | 1.5% | 5 |
| BANC OF CALIFORNIA INC | [BANC](https://holderbook.com/stocks/BANC/) | $2.5M | 121,370 | 1.5% | 30 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $2.5M | 102,177 | 1.5% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $2.3M | 2,200 | 1.4% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $2.3M | 12,215 | 1.4% | 22 |
| IREN LIMITED | [IREN](https://holderbook.com/stocks/IREN/) | $2.2M | 48,945 | 1.4% | 8 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $2.2M | 4,410 | 1.3% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.0M | 6,230 | 1.2% | 31 |
| BRIDGEWATER BANCSHARES INC | [BWB](https://holderbook.com/stocks/BWB/) | $2.0M | 96,685 | 1.2% | 11 |
| ONEMAIN HLDGS INC | [OMF](https://holderbook.com/stocks/OMF/) | $2.0M | 32,856 | 1.2% | 31 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $1.9M | 1,654 | 1.2% | 9 |
| TERAWULF INC | [WULF](https://holderbook.com/stocks/WULF/) | $1.9M | 75,345 | 1.1% | 9 |
| V F CORP | [VFC](https://holderbook.com/stocks/VFC/) | $1.8M | 108,675 | 1.1% | 14 |
| PATHWARD FINANCIAL INC | [CASH](https://holderbook.com/stocks/CASH/) | $1.8M | 20,135 | 1.1% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.7M | 6,008 | 1.1% | 31 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $1.7M | 18,802 | 1.0% | 31 |
| CIPHER DIGITAL INC | [CIFR](https://holderbook.com/stocks/CIFR/) | $1.7M | 69,200 | 1.0% | 8 |
| MERITAGE HOMES CORP | [MTH](https://holderbook.com/stocks/MTH/) | $1.6M | 19,344 | 1.0% | 2 |
| FIRST WESTN FINL INC | [MYFW](https://holderbook.com/stocks/MYFW/) | $1.5M | 46,475 | 0.9% | 8 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $1.5M | 8,453 | 0.9% | 30 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $1.5M | 46,269 | 0.9% | 24 |
| QCR HLDGS INC | [QCRH](https://holderbook.com/stocks/QCRH/) | $1.5M | 14,955 | 0.9% | 12 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $1.4M | 2,837 | 0.9% | 21 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $1.4M | 11,080 | 0.9% | 31 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $1.4M | 34,703 | 0.9% | 1 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $1.4M | 2,230 | 0.9% | 31 |
| T. ROWE PRICE GROWTH STO | - | $1.3M | 11,715 | 0.8% | 5 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $1.3M | 9,215 | 0.8% | 24 |
| STOCK YDS BANCORP INC | [SYBT](https://holderbook.com/stocks/SYBT/) | $1.2M | 15,639 | 0.7% | 9 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $1.2M | 3,450 | 0.7% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $1.2M | 5,593 | 0.7% | 22 |
| MVB FINL CORP | [MVBF](https://holderbook.com/stocks/MVBF/) | $1.2M | 39,918 | 0.7% | 10 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $1.1M | 2,967 | 0.6% | 22 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $958.2K | 17,676 | 0.6% | 31 |
| EASTERN BANKSHARES INC | [EBC](https://holderbook.com/stocks/EBC/) | $929.8K | 41,806 | 0.6% | 8 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $923.1K | 12,929 | 0.6% | 1 |
| WSFS FINL CORP | [WSFS](https://holderbook.com/stocks/WSFS/) | $850.9K | 11,089 | 0.5% | 4 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $850.3K | 7,226 | 0.5% | 29 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $829.6K | 14,560 | 0.5% | 31 |
| BUILDERS FIRSTSOURCE INC | [BLDR](https://holderbook.com/stocks/BLDR/) | $802.2K | 8,965 | 0.5% | 1 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $766.8K | 20,860 | 0.5% | 31 |
| DRAFTKINGS INC NEW | [DKNG](https://holderbook.com/stocks/DKNG/) | $761.6K | 30,149 | 0.5% | 17 |
| PLAINS ALL AMERN PIPELINE L | [PAA](https://holderbook.com/stocks/PAA/) | $729.0K | 32,750 | 0.4% | 31 |
| BANNER CORP | [BANR](https://holderbook.com/stocks/BANR/) | $706.9K | 10,640 | 0.4% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $683.0K | 7,096 | 0.4% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $681.2K | 2,014 | 0.4% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $661.3K | 2,604 | 0.4% | 31 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $636.2K | 2,939 | 0.4% | 31 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $614.0K | 6,697 | 0.4% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $608.5K | 4,494 | 0.4% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $580.1K | 7,020 | 0.4% | 31 |
| NICOLET BANKSHARES INC | [NIC](https://holderbook.com/stocks/NIC/) | $579.2K | 3,502 | 0.4% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $542.1K | 1,580 | 0.3% | 31 |
| STAR BULK CARRIERS CORP. | [SBLK](https://holderbook.com/stocks/SBLK/) | $540.0K | 21,627 | 0.3% | 31 |
| MGM RESORTS INTERNATIONAL | [MGM](https://holderbook.com/stocks/MGM/) | $537.1K | 11,235 | 0.3% | 23 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $511.4K | 1,450 | 0.3% | 31 |
| SM ENERGY COMPANY | [SM](https://holderbook.com/stocks/SM/) | $489.0K | 18,735 | 0.3% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $453.2K | 1,215 | 0.3% | 13 |
| BROWN FORMAN CORP | [BFB](https://holderbook.com/stocks/BFB/) | $450.3K | 16,895 | 0.3% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $436.7K | 5,373 | 0.3% | 31 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $404.5K | 4,653 | 0.2% | 11 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $396.7K | 1,110 | 0.2% | 4 |
| VANGUARD 500 INDEX ADMIRAL | - | $385.6K | 557 | 0.2% | 5 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $374.6K | 3,460 | 0.2% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $363.1K | 1,100 | 0.2% | 11 |
| CINCINNATI FINL CORP | [CINF](https://holderbook.com/stocks/CINF/) | $351.8K | 1,900 | 0.2% | 31 |
| ZIONS BANCORPORATION NATL AS | [ZION](https://holderbook.com/stocks/ZION/) | $349.4K | 5,050 | 0.2% | 11 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $324.6K | 1,850 | 0.2% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $319.3K | 1,174 | 0.2% | 25 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $310.8K | 3,425 | 0.2% | 31 |
| BROWN FORMAN CORP | [BFA](https://holderbook.com/stocks/BFA/) | $308.9K | 11,292 | 0.2% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $295.9K | 1,391 | 0.2% | 3 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $293.4K | 4,857 | 0.2% | 8 |
| EQUITY BANCSHARES INC | [EQBK](https://holderbook.com/stocks/EQBK/) | $287.3K | 5,865 | 0.2% | 9 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $283.7K | 3,648 | 0.2% | 3 |
| TAYLOR MORRISON HOME CORP | [TMHC](https://holderbook.com/stocks/TMHC/) | $251.1K | 3,500 | 0.2% | 8 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $250.2K | 925 | 0.2% | 15 |

## 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 | +10.7% | +14.8% | -4.1% | 99% |
| Q1 2026 | +0.9% | -4.6% | +5.6% | 98% |
| Q4 2025 | +3.2% | +2.4% | +0.9% | 98% |
| Q3 2025 | +8.5% | +7.8% | +0.7% | 99% |
| Q2 2025 | +3.1% | +10.5% | -7.4% | 100% |
| Q1 2025 | -2.9% | -4.6% | +1.6% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.7% | 100% |
| Q3 2024 | +11.2% | +5.4% | +5.8% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $163.9M | 111 |
| Q1 2026 | $146.1M | 107 |
| Q4 2025 | $155.6M | 113 |
| Q3 2025 | $151.3M | 114 |
| Q2 2025 | $137.7M | 112 |
| Q1 2025 | $132.7M | 109 |
| Q4 2024 | $137.3M | 112 |
| Q3 2024 | $143.3M | 113 |
| Q2 2024 | $126.4M | 113 |
| Q1 2024 | $128.6M | 114 |
| Q4 2023 | $127.5M | 117 |
| Q3 2023 | $110.7M | 109 |