# Kearns & Associates LLC

> Institutional holdings reported to the SEC as of Q3 2026 on Form 13F. CIK 1908695. Source: https://holderbook.com/funds/1908695-kearns-associates-llc/

- Reported value: $217.6M
- Positions: 39
- Weight of the ten largest: 89.0%
- Filed: 2026-10-09

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 |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $65.9M | 175,988 | 30.3% | 20 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $63.1M | 90,079 | 29.0% | 20 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $23.2M | 328,777 | 10.7% | 20 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $11.2M | 39,327 | 5.1% | 20 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $7.5M | 127,173 | 3.5% | 20 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $6.9M | 20,743 | 3.2% | 20 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $6.9M | 9,029 | 3.2% | 20 |
| ROYALTY PHARMA PLC | [RPRX](https://holderbook.com/stocks/RPRX/) | $3.4M | 58,240 | 1.6% | 8 |
| FIDELITY MERRIMACK STR TR | [FBND](https://holderbook.com/stocks/FBND/) | $2.9M | 68,035 | 1.4% | 6 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $2.6M | 95,770 | 1.2% | 20 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.3M | 25,614 | 1.1% | 9 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.2M | 4,305 | 1.0% | 16 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.7M | 4,800 | 0.8% | 16 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.6M | 4,800 | 0.8% | 16 |
| ISHARES TR | [IGM](https://holderbook.com/stocks/IGM/) | $1.4M | 8,226 | 0.6% | 20 |
| INNOVATOR ETFS TRUST | [PJUL](https://holderbook.com/stocks/PJUL/) | $1.3M | 25,755 | 0.6% | 10 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.2M | 4,660 | 0.5% | 16 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.1M | 3,200 | 0.5% | 16 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.1M | 19,500 | 0.5% | 16 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $971.4K | 26,648 | 0.4% | 20 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $900.4K | 1,000 | 0.4% | 16 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $851.5K | 2,800 | 0.4% | 16 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $850.3K | 8,700 | 0.4% | 16 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $790.1K | 5,808 | 0.4% | 20 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $650.7K | 1,967 | 0.3% | 16 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $638.6K | 946 | 0.3% | 16 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $628.9K | 11,368 | 0.3% | 16 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $501.7K | 3,375 | 0.2% | 16 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $471.9K | 5,251 | 0.2% | 20 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $463.3K | 604 | 0.2% | 20 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $350.6K | 1,905 | 0.2% | 16 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $341.9K | 338 | 0.2% | 16 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $281.1K | 3,308 | 0.1% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $260.9K | 685 | 0.1% | 6 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $256.2K | 3,200 | 0.1% | 16 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $237.0K | 549 | 0.1% | 5 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $211.6K | 1,125 | 0.1% | 6 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $209.5K | 1,085 | 0.1% | 16 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $205.9K | 3,750 | 0.1% | 3 |

## 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 | +14.1% | +14.8% | -0.7% | 100% |
| Q1 2026 | -3.2% | -4.6% | +1.4% | 100% |
| Q4 2025 | +3.0% | +2.4% | +0.7% | 100% |
| Q3 2025 | +7.8% | +7.8% | +0.0% | 100% |
| Q2 2025 | +10.0% | +10.5% | -0.4% | 100% |
| Q1 2025 | -3.8% | -4.6% | +0.8% | 100% |
| Q4 2024 | +1.0% | +2.1% | -1.1% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2026 | $217.6M | 39 |
| Q2 2026 | $214.2M | 41 |
| Q1 2026 | $185.9M | 40 |
| Q4 2025 | $193.6M | 40 |
| Q3 2025 | $188.4M | 42 |
| Q2 2025 | $174.4M | 44 |
| Q1 2025 | $154.2M | 42 |
| Q4 2024 | $154.7M | 43 |
| Q3 2024 | $151.7M | 43 |
| Q2 2024 | $133.9M | 42 |
| Q1 2024 | $129.1M | 42 |
| Q4 2023 | $117.3M | 42 |