# Winter & Associates, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2109063. Source: https://holderbook.com/funds/2109063-winter-associates-inc/

- Reported value: $133.1M
- Positions: 85
- Weight of the ten largest: 56.3%
- Filed: 2026-07-09

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 |
|---|---|---|---|---|---|
| VICTORY PORTFOLIOS II | [USTB](https://holderbook.com/stocks/USTB/) | $18.0M | 355,616 | 13.5% | 3 |
| PACER FDS TR | [COWZ](https://holderbook.com/stocks/COWZ/) | $8.1M | 130,809 | 6.1% | 3 |
| DIMENSIONAL ETF TRUST | [DFIV](https://holderbook.com/stocks/DFIV/) | $7.7M | 143,360 | 5.8% | 3 |
| INVESCO EXCH TRADED FD TR II | [SPHB](https://holderbook.com/stocks/SPHB/) | $7.7M | 49,302 | 5.8% | 3 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $6.5M | 21,535 | 4.9% | 3 |
| ISHARES TR | [IWL](https://holderbook.com/stocks/IWL/) | $6.4M | 34,510 | 4.8% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JPIB](https://holderbook.com/stocks/JPIB/) | $6.0M | 125,022 | 4.5% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.5M | 18,980 | 4.1% | 3 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $4.8M | 6,496 | 3.6% | 3 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $4.2M | 48,610 | 3.1% | 3 |
| ISHARES TR | [REZ](https://holderbook.com/stocks/REZ/) | $3.8M | 39,799 | 2.8% | 3 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $3.7M | 5,228 | 2.8% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.5M | 17,603 | 2.6% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $3.5M | 57,882 | 2.6% | 3 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $3.2M | 30,902 | 2.4% | 3 |
| SCHWAB STRATEGIC TR | [FNDA](https://holderbook.com/stocks/FNDA/) | $3.1M | 81,709 | 2.3% | 3 |
| WISDOMTREE TR | [DGRW](https://holderbook.com/stocks/DGRW/) | $2.3M | 23,648 | 1.7% | 3 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $2.3M | 42,325 | 1.7% | 3 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.1M | 5,723 | 1.6% | 3 |
| UNITED STS COMMODITY INDEX F | [USCI](https://holderbook.com/stocks/USCI/) | $1.9M | 20,377 | 1.4% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.8M | 4,225 | 1.3% | 3 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $1.3M | 7,952 | 1.0% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.1M | 4,603 | 0.8% | 3 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $1.0M | 6,311 | 0.8% | 3 |
| VANGUARD WORLD FD | [ESGV](https://holderbook.com/stocks/ESGV/) | $996.0K | 7,532 | 0.7% | 3 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $943.2K | 13,788 | 0.7% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $739.3K | 2,069 | 0.6% | 3 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $727.8K | 9,209 | 0.5% | 3 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $656.9K | 1,516 | 0.5% | 3 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $647.8K | 11,131 | 0.5% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $646.7K | 1,734 | 0.5% | 3 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $634.8K | 2,257 | 0.5% | 3 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $622.3K | 1,761 | 0.5% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $599.5K | 1,198 | 0.5% | 3 |
| INVESCO EXCH TRADED FD TR II | [SPHD](https://holderbook.com/stocks/SPHD/) | $561.4K | 11,042 | 0.4% | 3 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $538.5K | 1,354 | 0.4% | 3 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $531.5K | 1,113 | 0.4% | 3 |
| INVESCO EXCH TRADED FD TR II | [PSCC](https://holderbook.com/stocks/PSCC/) | $485.9K | 13,779 | 0.4% | 3 |
| STERLING INFRASTRUCTURE INC | [STRL](https://holderbook.com/stocks/STRL/) | $482.6K | 575 | 0.4% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $462.9K | 401 | 0.3% | 1 |
| ISHARES TR | [ESML](https://holderbook.com/stocks/ESML/) | $444.1K | 7,940 | 0.3% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $433.2K | 769 | 0.3% | 3 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $431.2K | 360 | 0.3% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $430.8K | 1,037 | 0.3% | 3 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $421.2K | 3,718 | 0.3% | 3 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $413.5K | 1,619 | 0.3% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $407.5K | 1,245 | 0.3% | 3 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $406.0K | 4,901 | 0.3% | 3 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $401.1K | 12,648 | 0.3% | 3 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $391.5K | 570 | 0.3% | 3 |
| ISHARES TR | [IDEV](https://holderbook.com/stocks/IDEV/) | $390.2K | 4,384 | 0.3% | 3 |
| ASTERA LABS INC | [ALAB](https://holderbook.com/stocks/ALAB/) | $386.4K | 800 | 0.3% | 1 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $372.9K | 3,880 | 0.3% | 3 |
| ISHARES INC | [ESGE](https://holderbook.com/stocks/ESGE/) | $356.8K | 6,524 | 0.3% | 1 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $356.1K | 613 | 0.3% | 1 |
| DIMENSIONAL ETF TRUST | [DFSI](https://holderbook.com/stocks/DFSI/) | $354.5K | 7,860 | 0.3% | 1 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $347.0K | 2,093 | 0.3% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $339.0K | 454 | 0.3% | 3 |
| SELECT SECTOR SPDR TR | [XLRE](https://holderbook.com/stocks/XLRE/) | $332.8K | 7,559 | 0.3% | 3 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $332.1K | 4,524 | 0.2% | 3 |
| VANECK ETF TRUST | [MOAT](https://holderbook.com/stocks/MOAT/) | $322.3K | 3,100 | 0.2% | 3 |
| NUSHARES ETF TR | [NULV](https://holderbook.com/stocks/NULV/) | $306.1K | 6,124 | 0.2% | 1 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $301.9K | 2,588 | 0.2% | 3 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $298.4K | 2,137 | 0.2% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $298.4K | 870 | 0.2% | 3 |
| SPDR SERIES TRUST | [SHE](https://holderbook.com/stocks/SHE/) | $291.0K | 1,884 | 0.2% | 3 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $284.7K | 1,537 | 0.2% | 2 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $280.6K | 2,910 | 0.2% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $277.3K | 236 | 0.2% | 1 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $276.4K | 4,686 | 0.2% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $237.7K | 674 | 0.2% | 3 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $235.2K | 1,077 | 0.2% | 3 |
| TRUST FOR PROFESSIONAL MANAG | [MINN](https://holderbook.com/stocks/MINN/) | $231.3K | 10,329 | 0.2% | 3 |
| INNODATA INC | [INOD](https://holderbook.com/stocks/INOD/) | $224.9K | 2,975 | 0.2% | 1 |
| VANGUARD SCOTTSDALE FDS | [VTWG](https://holderbook.com/stocks/VTWG/) | $217.5K | 756 | 0.2% | 1 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $217.3K | 3,109 | 0.2% | 3 |
| JABIL INC | [JBL](https://holderbook.com/stocks/JBL/) | $216.6K | 562 | 0.2% | 1 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $210.4K | 563 | 0.2% | 1 |
| TORO CO | [TTC](https://holderbook.com/stocks/TTC/) | $209.5K | 2,150 | 0.2% | 1 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $208.5K | 276 | 0.2% | 3 |
| CURTISS WRIGHT CORP | [CW](https://holderbook.com/stocks/CW/) | $208.4K | 275 | 0.2% | 1 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $200.9K | 101 | 0.2% | 1 |
| SABA CAPITAL INCOME & OPPORT | [SABA](https://holderbook.com/stocks/SABA/) | $99.4K | 11,908 | 0.1% | 3 |
| CREDIT SUISSE HIGH YIELD CRE | [DHY](https://holderbook.com/stocks/DHY/) | $46.7K | 26,258 | 0.0% | 3 |
| NOUVEAU MONDE GRAPHITE INC | [NMG](https://holderbook.com/stocks/NMG/) | $19.2K | 12,791 | 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 | +9.7% | +14.8% | -5.1% | 99% |
| Q1 2026 | -1.3% | -4.6% | +3.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $133.1M | 85 |
| Q1 2026 | $114.2M | 84 |
| Q4 2025 | $108.2M | 82 |