# NAPATREE CAPITAL LLC

> Institutional holdings reported to the SEC as of Q1 2025 on Form 13F. CIK 2015964. Source: https://holderbook.com/funds/2015964-napatree-capital-llc/

- Reported value: $177.8M
- Positions: 195
- Weight of the ten largest: 27.0%
- Filed: 2025-05-02

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 |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $7.2M | 9 | 4.0% | 2 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $5.3M | 10,022 | 3.0% | 4 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $5.2M | 78,563 | 2.9% | 5 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $5.1M | 95,386 | 2.9% | 6 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $4.8M | 63,320 | 2.7% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $4.6M | 20,728 | 2.6% | 6 |
| J P MORGAN EXCHANGE TRADED F | [HELO](https://holderbook.com/stocks/HELO/) | $4.5M | 76,051 | 2.6% | 3 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $3.9M | 66,007 | 2.2% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $3.7M | 13,463 | 2.1% | 6 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $3.6M | 63,674 | 2.0% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.3M | 8,849 | 1.9% | 6 |
| SPDR SERIES TRUST | [SPSM](https://holderbook.com/stocks/SPSM/) | $3.2M | 78,157 | 1.8% | 6 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.9M | 5,083 | 1.6% | 6 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $2.8M | 127,621 | 1.6% | 6 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $2.7M | 5,698 | 1.5% | 6 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $2.3M | 23,660 | 1.3% | 6 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.1M | 13,803 | 1.2% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.1M | 19,055 | 1.2% | 5 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $2.0M | 3,940 | 1.1% | 6 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.0M | 10,451 | 1.1% | 6 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $1.9M | 18,284 | 1.1% | 6 |
| WASHINGTON TR BANCORP INC | [WASH](https://holderbook.com/stocks/WASH/) | $1.9M | 61,606 | 1.1% | 6 |
| BALLYS CORPORATION | [BALY](https://holderbook.com/stocks/BALY/) | $1.9M | 151,701 | 1.0% | 2 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $1.7M | 33,589 | 1.0% | 2 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $1.7M | 28,895 | 0.9% | 6 |
| SPDR SERIES TRUST | [SPTS](https://holderbook.com/stocks/SPTS/) | $1.7M | 57,610 | 0.9% | 6 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $1.7M | 3,379 | 0.9% | 6 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $1.6M | 62,169 | 0.9% | 6 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.6M | 6,405 | 0.9% | 6 |
| SPDR SERIES TRUST | [SPTL](https://holderbook.com/stocks/SPTL/) | $1.5M | 56,566 | 0.9% | 6 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $1.5M | 17,809 | 0.9% | 3 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.5M | 16,932 | 0.8% | 6 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $1.5M | 7,295 | 0.8% | 6 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.4M | 8,936 | 0.8% | 6 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.3M | 3,658 | 0.7% | 6 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $1.2M | 9,393 | 0.7% | 6 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.2M | 10,223 | 0.7% | 6 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $1.2M | 9,315 | 0.7% | 6 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $1.1M | 11,179 | 0.6% | 2 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.1M | 18,086 | 0.6% | 6 |
| INTERNATIONAL PAPER CO | [IP](https://holderbook.com/stocks/IP/) | $1.1M | 20,437 | 0.6% | 6 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.1M | 6,560 | 0.6% | 6 |
| VANGUARD SCOTTSDALE FDS | [BNDW](https://holderbook.com/stocks/BNDW/) | $1.0M | 15,130 | 0.6% | 6 |
| ISHARES TR | [SHV](https://holderbook.com/stocks/SHV/) | $1.0M | 9,364 | 0.6% | 6 |
| CSG SYS INTL INC | [CSGS](https://holderbook.com/stocks/CSGS/) | $1.0M | 16,765 | 0.6% | 5 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $990.5K | 3,242 | 0.6% | 4 |
| ISHARES TR | [IDEV](https://holderbook.com/stocks/IDEV/) | $978.9K | 14,210 | 0.6% | 6 |
| SPDR SERIES TRUST | [SPTI](https://holderbook.com/stocks/SPTI/) | $976.1K | 34,153 | 0.5% | 6 |
| HASBRO INC | [HAS](https://holderbook.com/stocks/HAS/) | $973.3K | 15,829 | 0.5% | 6 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $972.2K | 10,598 | 0.5% | 6 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $957.0K | 8,607 | 0.5% | 6 |
| ISHARES TR | [FLOT](https://holderbook.com/stocks/FLOT/) | $956.0K | 18,726 | 0.5% | 2 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $954.4K | 3,911 | 0.5% | 4 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $952.1K | 1,652 | 0.5% | 4 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $930.1K | 9,301 | 0.5% | 6 |
| PLAYAGS INC | [AGS](https://holderbook.com/stocks/AGS/) | $923.5K | 76,257 | 0.5% | 6 |
| J P MORGAN EXCHANGE TRADED F | [JEPQ](https://holderbook.com/stocks/JEPQ/) | $876.0K | 16,917 | 0.5% | 6 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $845.2K | 2,713 | 0.5% | 6 |
| MOLSON COORS BEVERAGE CO | [TAP](https://holderbook.com/stocks/TAP/) | $785.0K | 12,897 | 0.4% | 6 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $778.8K | 2,125 | 0.4% | 6 |
| ISHARES TR | [IUSB](https://holderbook.com/stocks/IUSB/) | $763.8K | 16,575 | 0.4% | 6 |
| VANGUARD BD INDEX FDS | [VUSB](https://holderbook.com/stocks/VUSB/) | $759.5K | 15,234 | 0.4% | 6 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $753.3K | 1,379 | 0.4% | 6 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $747.7K | 4,372 | 0.4% | 6 |
| CONCENTRIX CORP | [CNXC](https://holderbook.com/stocks/CNXC/) | $732.1K | 13,158 | 0.4% | 1 |
| J P MORGAN EXCHANGE TRADED F | [JPIE](https://holderbook.com/stocks/JPIE/) | $730.4K | 15,854 | 0.4% | 1 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $724.4K | 25,908 | 0.4% | 6 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $718.1K | 4,289 | 0.4% | 3 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $706.7K | 14,359 | 0.4% | 6 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $706.0K | 7,685 | 0.4% | 3 |
| UPBOUND GROUP INC | [UPBD](https://holderbook.com/stocks/UPBD/) | $667.0K | 27,837 | 0.4% | 6 |
| ARTISAN PARTNERS ASSET MGMT | [APAM](https://holderbook.com/stocks/APAM/) | $658.6K | 16,843 | 0.4% | 5 |
| FIVE9 INC | [FIVN](https://holderbook.com/stocks/FIVN/) | $658.5K | 24,255 | 0.4% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $644.9K | 4,301 | 0.4% | 4 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $631.5K | 14,484 | 0.4% | 6 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $621.9K | 9,179 | 0.3% | 6 |
| FLEXSHARES TR | [GUNR](https://holderbook.com/stocks/GUNR/) | $613.2K | 15,800 | 0.3% | 2 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $610.6K | 24,094 | 0.3% | 6 |
| ISHARES TR | [IWP](https://holderbook.com/stocks/IWP/) | $607.9K | 5,174 | 0.3% | 6 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $605.2K | 2,255 | 0.3% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $601.4K | 9,915 | 0.3% | 2 |
| ISHARES TR | [IYF](https://holderbook.com/stocks/IYF/) | $599.5K | 5,312 | 0.3% | 3 |
| NEXTPOWER INC | [NXT](https://holderbook.com/stocks/NXT/) | $559.0K | 13,266 | 0.3% | 1 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $553.6K | 3,362 | 0.3% | 4 |
| NOMAD FOODS LTD | [NOMD](https://holderbook.com/stocks/NOMD/) | $548.4K | 27,907 | 0.3% | 1 |
| CROCS INC | [CROX](https://holderbook.com/stocks/CROX/) | $538.8K | 5,073 | 0.3% | 5 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $537.6K | 568 | 0.3% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $534.3K | 573 | 0.3% | 6 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $531.0K | 1,037 | 0.3% | 2 |
| OVINTIV INC | [OVV](https://holderbook.com/stocks/OVV/) | $524.9K | 12,265 | 0.3% | 4 |
| BUNGE GLOBAL SA | [BG](https://holderbook.com/stocks/BG/) | $524.7K | 6,866 | 0.3% | 6 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $516.2K | 923 | 0.3% | 6 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $513.3K | 3,495 | 0.3% | 6 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $511.3K | 1,881 | 0.3% | 6 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $508.4K | 5,151 | 0.3% | 6 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $505.4K | 2,412 | 0.3% | 5 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $500.9K | 6,819 | 0.3% | 6 |
| THOR INDS INC | [THO](https://holderbook.com/stocks/THO/) | $490.2K | 6,466 | 0.3% | 6 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $489.0K | 1,567 | 0.3% | 3 |
| HELMERICH & PAYNE INC | [HP](https://holderbook.com/stocks/HP/) | $482.1K | 18,458 | 0.3% | 5 |

## 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 |
|---|---|---|---|---|
| Q1 2025 | -2.4% | -4.6% | +2.2% | 99% |
| Q4 2024 | -1.1% | +2.1% | -3.3% | 100% |
| Q3 2024 | +6.2% | +5.4% | +0.7% | 100% |
| Q2 2024 | +0.3% | +4.0% | -3.7% | 104% |
| Q1 2024 | +5.2% | +10.0% | -4.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2025 | $177.8M | 195 |
| Q4 2024 | $170.3M | 182 |
| Q3 2024 | $143.4M | 159 |
| Q2 2024 | $123.4M | 136 |
| Q1 2024 | $103.3M | 121 |
| Q4 2023 | $99.8M | 117 |