# SAGE ADVISORS, LLC

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 2032121. Source: https://holderbook.com/funds/2032121-sage-advisors-llc/

- Reported value: $150.8M
- Positions: 48
- Weight of the ten largest: 76.1%
- Filed: 2026-01-13

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 |
|---|---|---|---|---|---|
| BLUE OWL CAPITAL CORPORATION | [OBDC](https://holderbook.com/stocks/OBDC/) | $25.6M | 2,061,949 | 17.0% | 9 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $20.8M | 19,397 | 13.8% | 9 |
| ARES CAPITAL CORP | [ARCC](https://holderbook.com/stocks/ARCC/) | $19.3M | 955,548 | 12.8% | 9 |
| BROADSTONE NET LEASE INC | [BNL](https://holderbook.com/stocks/BNL/) | $15.0M | 862,316 | 9.9% | 9 |
| ANNALY CAPITAL MANAGEMENT IN | [NLY](https://holderbook.com/stocks/NLY/) | $7.2M | 320,533 | 4.8% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $7.1M | 26,291 | 4.7% | 9 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $6.7M | 28,943 | 4.4% | 9 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $4.9M | 9,763 | 3.3% | 9 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $4.2M | 73,670 | 2.8% | 5 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.8M | 20,486 | 2.5% | 8 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $3.7M | 77,851 | 2.5% | 1 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.6M | 3,835 | 1.7% | 9 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $2.4M | 3,982 | 1.6% | 9 |
| HERCULES CAPITAL INC | [HTGC](https://holderbook.com/stocks/HTGC/) | $2.3M | 119,974 | 1.5% | 2 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $2.2M | 4,631 | 1.5% | 9 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.0M | 3,001 | 1.3% | 9 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.8M | 3,808 | 1.2% | 9 |
| FS KKR CAP CORP | [FSK](https://holderbook.com/stocks/FSK/) | $1.8M | 119,967 | 1.2% | 4 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.6M | 5,313 | 1.0% | 9 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $1.3M | 2,974 | 0.8% | 1 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.0M | 3,161 | 0.7% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $888.9K | 2,840 | 0.6% | 7 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $778.0K | 7,751 | 0.5% | 1 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $770.0K | 8,008 | 0.5% | 1 |
| AST SPACEMOBILE INC | [ASTS](https://holderbook.com/stocks/ASTS/) | $697.5K | 9,603 | 0.5% | 3 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $681.1K | 28,355 | 0.5% | 9 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $622.4K | 1,384 | 0.4% | 4 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $619.2K | 1,789 | 0.4% | 8 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $615.4K | 7,061 | 0.4% | 1 |
| OMEGA HEALTHCARE INVS INC | [OHI](https://holderbook.com/stocks/OHI/) | $587.8K | 13,257 | 0.4% | 2 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $579.2K | 10,953 | 0.4% | 1 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $577.4K | 10,716 | 0.4% | 1 |
| ISHARES TR | [IGLB](https://holderbook.com/stocks/IGLB/) | $568.4K | 11,267 | 0.4% | 1 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $567.0K | 25,450 | 0.4% | 9 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $563.7K | 17,583 | 0.4% | 9 |
| ARES MANAGEMENT CORPORATION | [ARES](https://holderbook.com/stocks/ARES/) | $543.1K | 3,360 | 0.4% | 5 |
| ROCKET COS INC | [RKT](https://holderbook.com/stocks/RKT/) | $527.4K | 27,240 | 0.3% | 1 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $476.9K | 446 | 0.3% | 5 |
| BLUE OWL CAPITAL INC | [OWL](https://holderbook.com/stocks/OWL/) | $413.0K | 27,641 | 0.3% | 4 |
| GALAXY DIGITAL INC. | [GLXY](https://holderbook.com/stocks/GLXY/) | $399.4K | 17,863 | 0.3% | 3 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $334.4K | 584 | 0.2% | 1 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $318.1K | 369 | 0.2% | 8 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $317.7K | 3,958 | 0.2% | 9 |
| INFLECTION POINT ACQUISITION | [BACQ](https://holderbook.com/stocks/BACQ/) | $248.0K | 23,135 | 0.2% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $219.2K | 553 | 0.1% | 1 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $218.3K | 266 | 0.1% | 1 |
| VELO3D INC | [VELO](https://holderbook.com/stocks/VELO/) | $154.6K | 11,251 | 0.1% | 1 |
| REDWIRE CORPORATION | [RDW](https://holderbook.com/stocks/RDW/) | $78.8K | 10,363 | 0.1% | 1 |

## 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 |
|---|---|---|---|---|
| Q4 2025 | +3.6% | +2.4% | +1.2% | 100% |
| Q3 2025 | -1.6% | +7.8% | -9.4% | 100% |
| Q2 2025 | -0.7% | +10.5% | -11.1% | 100% |
| Q1 2025 | -0.3% | -4.6% | +4.3% | 100% |
| Q4 2024 | -0.1% | +2.1% | -2.3% | 100% |
| Q3 2024 | +2.9% | +5.4% | -2.5% | 100% |
| Q2 2024 | +4.2% | +4.0% | +0.1% | 100% |
| Q1 2024 | +4.6% | +10.0% | -5.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $150.8M | 48 |
| Q3 2025 | $139.6M | 39 |
| Q2 2025 | $140.1M | 36 |
| Q1 2025 | $142.1M | 32 |
| Q4 2024 | $133.9M | 28 |
| Q3 2024 | $127.0M | 25 |
| Q2 2024 | $123.0M | 25 |
| Q1 2024 | $112.4M | 25 |
| Q4 2023 | $100.7M | 27 |