# Phraction Management LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1907803. Source: https://holderbook.com/funds/1907803-phraction-management-llc/

- Reported value: $595.5M
- Positions: 65
- Weight of the ten largest: 63.7%
- Filed: 2026-07-20

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/) | $182.3M | 1,054 | 30.6% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $34.6M | 145,203 | 5.8% | 19 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $27.5M | 76,858 | 4.6% | 19 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $26.9M | 13,512 | 4.5% | 7 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $23.4M | 62,618 | 3.9% | 19 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $18.9M | 47,530 | 3.2% | 19 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $17.3M | 34,535 | 2.9% | 19 |
| ENTEGRIS INC | [ENTG](https://holderbook.com/stocks/ENTG/) | $17.3M | 95,964 | 2.9% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $15.9M | 44,885 | 2.7% | 19 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $15.5M | 21,394 | 2.6% | 19 |
| BANK OF AMER CORP | [BACPRL](https://holderbook.com/stocks/BACPRL/) | $15.3M | 12,158 | 2.6% | 18 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $13.2M | 69,059 | 2.2% | 17 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $12.5M | 24,156 | 2.1% | 14 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $10.3M | 7,754 | 1.7% | 3 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $10.1M | 29,298 | 1.7% | 19 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $9.7M | 50,960 | 1.6% | 19 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $9.3M | 18,625 | 1.6% | 19 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $9.0M | 15,964 | 1.5% | 19 |
| SPROTT ASSET MANAGEMENT LP | [PHYS](https://holderbook.com/stocks/PHYS/) | $8.8M | 290,467 | 1.5% | 19 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $8.8M | 21,505 | 1.5% | 19 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $8.0M | 108,275 | 1.4% | 19 |
| TELEDYNE TECHNOLOGIES INC | [TDY](https://holderbook.com/stocks/TDY/) | $8.0M | 11,944 | 1.3% | 13 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $7.8M | 26,146 | 1.3% | 13 |
| WELLS FARGO & CO | [WFCPRL](https://holderbook.com/stocks/WFCPRL/) | $7.5M | 6,522 | 1.3% | 19 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $7.0M | 46,448 | 1.2% | 19 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $6.9M | 30,832 | 1.2% | 1 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $6.8M | 15,774 | 1.1% | 7 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $6.8M | 30,821 | 1.1% | 1 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $6.4M | 14,316 | 1.1% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $5.5M | 95,835 | 0.9% | 19 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $4.6M | 37,525 | 0.8% | 19 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $4.5M | 25,004 | 0.8% | 19 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $4.4M | 18,375 | 0.7% | 6 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $2.5M | 75,200 | 0.4% | 7 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.0M | 14,666 | 0.3% | 8 |
| MARKETWISE INC | [MKTW](https://holderbook.com/stocks/MKTW/) | $1.6M | 92,316 | 0.3% | 5 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.6M | 8,000 | 0.3% | 10 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $1.6M | 36,558 | 0.3% | 2 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.4M | 3,238 | 0.2% | 3 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $1.3M | 30,172 | 0.2% | 5 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $1.2M | 5,648 | 0.2% | 10 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $1.0M | 13,770 | 0.2% | 15 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.0M | 3,499 | 0.2% | 19 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $1.0M | 12,062 | 0.2% | 15 |
| VANECK ETF TRUST | [MOAT](https://holderbook.com/stocks/MOAT/) | $945.5K | 9,095 | 0.2% | 18 |
| INVESCO EXCHANGE TRADED FD T | [SPGP](https://holderbook.com/stocks/SPGP/) | $820.6K | 6,710 | 0.1% | 18 |
| ENERGY TRANSFER L P | [ETPRI](https://holderbook.com/stocks/ETPRI/) | $819.5K | 71,510 | 0.1% | 2 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $816.4K | 22,209 | 0.1% | 3 |
| DBX ETF TR | [ASHR](https://holderbook.com/stocks/ASHR/) | $645.6K | 17,610 | 0.1% | 19 |
| ISHARES TR | [IHI](https://holderbook.com/stocks/IHI/) | $548.0K | 11,091 | 0.1% | 18 |
| ISHARES TR | [INDA](https://holderbook.com/stocks/INDA/) | $503.6K | 10,196 | 0.1% | 3 |
| FOMENTO ECONOMICO MEXICANO S | [FMX](https://holderbook.com/stocks/FMX/) | $491.8K | 3,845 | 0.1% | 16 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $435.6K | 1,235 | 0.1% | 19 |
| SUPER GROUP SGHC LIMITED | [SGHC](https://holderbook.com/stocks/SGHC/) | $406.9K | 30,031 | 0.1% | 15 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $377.8K | 1,000 | 0.1% | 5 |
| MARA HOLDINGS INC | [MARA](https://holderbook.com/stocks/MARA/) | $347.2K | 25,000 | 0.1% | 8 |
| PROSHARES TR | [NOBL](https://holderbook.com/stocks/NOBL/) | $329.7K | 5,870 | 0.1% | 2 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $313.0K | 425 | 0.1% | 2 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $308.1K | 605 | 0.1% | 12 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $228.8K | 367 | 0.0% | 4 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $218.4K | 2,383 | 0.0% | 2 |
| FIRSTENERGY CORP | [FE](https://holderbook.com/stocks/FE/) | $209.4K | 4,405 | 0.0% | 5 |
| SUI GROUP HOLDINGS LIMITED | [SUIG](https://holderbook.com/stocks/SUIG/) | $37.2K | 32,060 | 0.0% | 3 |
| FRACTYL HEALTH INC | [GUTS](https://holderbook.com/stocks/GUTS/) | $32.6K | 41,000 | 0.0% | 2 |
| SPLASH BEVERAGE GROUP INC | [SBEV](https://holderbook.com/stocks/SBEV/) | $19.2K | 123,648 | 0.0% | 2 |

## 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 | +14.7% | +14.8% | -0.1% | 80% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 99% |
| Q4 2025 | +4.9% | +2.4% | +2.5% | 100% |
| Q3 2025 | +6.7% | +7.8% | -1.1% | 100% |
| Q2 2025 | +7.7% | +10.5% | -2.8% | 100% |
| Q1 2025 | -1.4% | -4.6% | +3.1% | 100% |
| Q4 2024 | -0.2% | +2.1% | -2.4% | 100% |
| Q3 2024 | +4.5% | +5.4% | -0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $595.5M | 65 |
| Q1 2026 | $482.9M | 64 |
| Q4 2025 | $375.3M | 66 |
| Q3 2025 | $346.5M | 66 |
| Q2 2025 | $312.7M | 73 |
| Q1 2025 | $298.6M | 74 |
| Q4 2024 | $285.2M | 71 |
| Q3 2024 | $282.8M | 69 |
| Q2 2024 | $273.6M | 67 |
| Q1 2024 | $259.9M | 63 |
| Q4 2023 | $242.0M | 52 |
| Q3 2023 | $212.0M | 50 |