# Sage Mountain Advisors LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1832274. Source: https://holderbook.com/funds/1832274-sage-mountain-advisors-llc/

- Reported value: $1.6B
- Positions: 304
- Weight of the ten largest: 66.8%
- Filed: 2026-08-05

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 |
|---|---|---|---|---|---|
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $282.6M | 5,596,571 | 17.4% | 15 |
| J P MORGAN EXCHANGE TRADED F | [JQUA](https://holderbook.com/stocks/JQUA/) | $210.4M | 2,910,657 | 12.9% | 16 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $160.0M | 432,445 | 9.8% | 23 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $126.3M | 575,644 | 7.8% | 23 |
| ISHARES TR | [IQLT](https://holderbook.com/stocks/IQLT/) | $84.6M | 1,706,820 | 5.2% | 23 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $50.8M | 74,026 | 3.1% | 23 |
| GOLUB CAP BDC INC | [GBDC](https://holderbook.com/stocks/GBDC/) | $49.3M | 3,829,164 | 3.0% | 23 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $45.8M | 776,955 | 2.8% | 22 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $44.3M | 622,002 | 2.7% | 23 |
| JANUS DETROIT STR TR | [JMBS](https://holderbook.com/stocks/JMBS/) | $32.2M | 716,333 | 2.0% | 7 |
| SPDR SERIES TRUST | [QUS](https://holderbook.com/stocks/QUS/) | $31.1M | 166,196 | 1.9% | 23 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $28.4M | 556,512 | 1.7% | 3 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $18.4M | 154,016 | 1.1% | 14 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $18.1M | 211,636 | 1.1% | 22 |
| INVESCO EXCHANGE TRADED FD T | [SPHQ](https://holderbook.com/stocks/SPHQ/) | $14.4M | 160,030 | 0.9% | 18 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $13.9M | 18,667 | 0.9% | 15 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $13.4M | 44,152 | 0.8% | 23 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $13.1M | 80,034 | 0.8% | 20 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $13.0M | 34,510 | 0.8% | 21 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $13.0M | 151,254 | 0.8% | 23 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $12.8M | 42,317 | 0.8% | 12 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $10.9M | 37,830 | 0.7% | 23 |
| INVESCO EXCH TRD SLF IDX FD | [OMFL](https://holderbook.com/stocks/OMFL/) | $10.4M | 151,832 | 0.6% | 4 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $9.9M | 30,247 | 0.6% | 23 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $9.5M | 163,403 | 0.6% | 22 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $9.5M | 22,581 | 0.6% | 23 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $9.4M | 12,524 | 0.6% | 23 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $8.2M | 66,240 | 0.5% | 23 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $8.0M | 10,846 | 0.5% | 21 |
| ANGEL OAK FUNDS TRUST | [UYLD](https://holderbook.com/stocks/UYLD/) | $7.9M | 155,404 | 0.5% | 11 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $7.8M | 19,136 | 0.5% | 23 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $7.4M | 249,841 | 0.5% | 19 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $6.7M | 133,358 | 0.4% | 8 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $6.5M | 42,527 | 0.4% | 14 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $6.5M | 29,939 | 0.4% | 23 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $6.4M | 9,739 | 0.4% | 10 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $6.4M | 226,504 | 0.4% | 14 |
| INVESCO EXCHANGE TRADED FD T | [XLG](https://holderbook.com/stocks/XLG/) | $6.4M | 104,090 | 0.4% | 20 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $5.9M | 16,663 | 0.4% | 23 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $5.1M | 62,803 | 0.3% | 19 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $5.1M | 34,072 | 0.3% | 23 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $5.0M | 21,011 | 0.3% | 23 |
| SPDR INDEX SHS FDS | [QEFA](https://holderbook.com/stocks/QEFA/) | $4.9M | 50,581 | 0.3% | 23 |
| VANGUARD SCOTTSDALE FDS | [VONG](https://holderbook.com/stocks/VONG/) | $4.8M | 37,501 | 0.3% | 22 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $4.8M | 49,608 | 0.3% | 23 |
| KAYNE ANDERSON BDC INC | [KBDC](https://holderbook.com/stocks/KBDC/) | $4.8M | 353,274 | 0.3% | 7 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $4.3M | 51,920 | 0.3% | 18 |
| DIMENSIONAL ETF TRUST | [DFLV](https://holderbook.com/stocks/DFLV/) | $4.2M | 106,502 | 0.3% | 2 |
| VANGUARD SCOTTSDALE FDS | [VONV](https://holderbook.com/stocks/VONV/) | $4.1M | 38,239 | 0.3% | 13 |
| RBB FD INC | [TBIL](https://holderbook.com/stocks/TBIL/) | $3.9M | 78,922 | 0.2% | 10 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $3.9M | 38,878 | 0.2% | 5 |
| SPDR SERIES TRUST | [LGLV](https://holderbook.com/stocks/LGLV/) | $3.4M | 18,958 | 0.2% | 13 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.4M | 6,033 | 0.2% | 23 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.4M | 16,937 | 0.2% | 22 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.3M | 8,871 | 0.2% | 23 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $3.1M | 6,097 | 0.2% | 23 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $2.9M | 64,523 | 0.2% | 21 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $2.8M | 5,937 | 0.2% | 9 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $2.7M | 80,435 | 0.2% | 13 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $2.6M | 10,785 | 0.2% | 22 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $2.5M | 33,303 | 0.2% | 9 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $2.5M | 7,194 | 0.2% | 15 |
| DIMENSIONAL ETF TRUST | [DFIV](https://holderbook.com/stocks/DFIV/) | $2.4M | 44,203 | 0.1% | 20 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $2.4M | 47,171 | 0.1% | 23 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $2.2M | 3 | 0.1% | 23 |
| SPDR SERIES TRUST | [SHM](https://holderbook.com/stocks/SHM/) | $2.2M | 45,104 | 0.1% | 4 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $2.1M | 20,517 | 0.1% | 22 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $2.1M | 53,769 | 0.1% | 2 |
| VANGUARD INDEX FDS | [VBK](https://holderbook.com/stocks/VBK/) | $2.0M | 5,484 | 0.1% | 13 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $2.0M | 8,249 | 0.1% | 22 |
| ISHARES TR | [ESGU](https://holderbook.com/stocks/ESGU/) | $1.9M | 11,476 | 0.1% | 4 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.9M | 1,550 | 0.1% | 22 |
| FIRST TR EXCHANGE TRADED FD | [CIBR](https://holderbook.com/stocks/CIBR/) | $1.9M | 20,591 | 0.1% | 8 |
| SPROTT ASSET MANAGEMENT LP | [PHYS](https://holderbook.com/stocks/PHYS/) | $1.9M | 61,320 | 0.1% | 1 |
| ISHARES TR | [IDEV](https://holderbook.com/stocks/IDEV/) | $1.8M | 20,686 | 0.1% | 7 |
| PAYONEER GLOBAL INC | [PAYO](https://holderbook.com/stocks/PAYO/) | $1.8M | 257,283 | 0.1% | 1 |
| ISHARES TR | [INTF](https://holderbook.com/stocks/INTF/) | $1.7M | 42,634 | 0.1% | 16 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $1.6M | 14,756 | 0.1% | 15 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $1.6M | 7,530 | 0.1% | 23 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.5M | 4,455 | 0.1% | 23 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $1.5M | 10,949 | 0.1% | 23 |
| VANGUARD INSTL INDEX FD | [VBIL](https://holderbook.com/stocks/VBIL/) | $1.5M | 19,283 | 0.1% | 4 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $1.4M | 42,325 | 0.1% | 7 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $1.4M | 8,985 | 0.1% | 23 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.3M | 11,539 | 0.1% | 23 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $1.3M | 3,053 | 0.1% | 22 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $1.2M | 7,820 | 0.1% | 4 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $1.2M | 1,151 | 0.1% | 15 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $1.2M | 12,326 | 0.1% | 11 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.2M | 9,098 | 0.1% | 23 |
| PACER FDS TR | [PTLC](https://holderbook.com/stocks/PTLC/) | $1.1M | 19,516 | 0.1% | 1 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $1.1M | 4,776 | 0.1% | 19 |
| ISHARES TR | [SMMV](https://holderbook.com/stocks/SMMV/) | $1.1M | 23,957 | 0.1% | 11 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.1M | 2,994 | 0.1% | 10 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $1.1M | 13,857 | 0.1% | 9 |
| AGNC INVT CORP | [AGNC](https://holderbook.com/stocks/AGNC/) | $1.0M | 94,702 | 0.1% | 4 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $1.0M | 10,672 | 0.1% | 13 |
| GLOBAL X FDS | [PAVE](https://holderbook.com/stocks/PAVE/) | $989.4K | 16,793 | 0.1% | 20 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $989.2K | 10,562 | 0.1% | 14 |
| ISHARES TR | [XVV](https://holderbook.com/stocks/XVV/) | $987.4K | 17,386 | 0.1% | 8 |

## 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 | +10.0% | +14.8% | -4.9% | 100% |
| Q1 2026 | -3.0% | -4.6% | +1.6% | 100% |
| Q4 2025 | +1.5% | +2.4% | -0.9% | 100% |
| Q3 2025 | +5.0% | +7.8% | -2.8% | 100% |
| Q2 2025 | +6.9% | +10.5% | -3.5% | 100% |
| Q1 2025 | -2.5% | -4.6% | +2.0% | 100% |
| Q4 2024 | +0.9% | +2.1% | -1.2% | 100% |
| Q3 2024 | +4.4% | +5.4% | -1.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.6B | 304 |
| Q1 2026 | $1.4B | 281 |
| Q4 2025 | $1.9B | 559 |
| Q3 2025 | $1.7B | 547 |
| Q2 2025 | $1.5B | 494 |
| Q1 2025 | $1.4B | 492 |
| Q4 2024 | $1.4B | 473 |
| Q3 2024 | $1.2B | 485 |
| Q2 2024 | $1.1B | 421 |
| Q1 2024 | $962.2M | 408 |
| Q4 2023 | $861.9M | 355 |
| Q3 2023 | $727.0M | 363 |