# Tannin Capital LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2110834. Source: https://holderbook.com/funds/2110834-tannin-capital-llc/

- Reported value: $152.2M
- Positions: 169
- Weight of the ten largest: 29.8%
- Filed: 2026-08-04

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/) | $6.0M | 8 | 3.9% | 2 |
| GLOBAL X FDS | [CLIP](https://holderbook.com/stocks/CLIP/) | $5.7M | 57,295 | 3.8% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $5.5M | 16,711 | 3.6% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.3M | 18,390 | 3.5% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $4.6M | 12,833 | 3.0% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $4.6M | 22,800 | 3.0% | 3 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $3.7M | 5,385 | 2.4% | 3 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $3.4M | 8,953 | 2.2% | 3 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $3.3M | 3,303 | 2.2% | 3 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $3.2M | 12,795 | 2.1% | 3 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.8M | 32,566 | 1.8% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.6M | 6,911 | 1.7% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.4M | 6,862 | 1.6% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.4M | 3,214 | 1.6% | 3 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.1M | 8,084 | 1.3% | 3 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.9M | 5,519 | 1.2% | 3 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $1.9M | 13,034 | 1.2% | 3 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $1.8M | 4,905 | 1.2% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $1.8M | 11,424 | 1.2% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.7M | 14,596 | 1.1% | 3 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $1.6M | 49,185 | 1.1% | 1 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $1.6M | 1,673 | 1.1% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.6M | 6,771 | 1.1% | 3 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $1.6M | 6,629 | 1.1% | 3 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.6M | 4,479 | 1.0% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.6M | 2,796 | 1.0% | 3 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $1.5M | 19,070 | 1.0% | 3 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $1.4M | 27,785 | 0.9% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.3M | 2,661 | 0.9% | 3 |
| AMPLIFY ETF TR | [DIVO](https://holderbook.com/stocks/DIVO/) | $1.3M | 28,576 | 0.9% | 2 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $1.3M | 10,472 | 0.9% | 3 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.3M | 9,092 | 0.8% | 3 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $1.3M | 2,416 | 0.8% | 3 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.3M | 11,053 | 0.8% | 3 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $1.2M | 12,844 | 0.8% | 3 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.2M | 7,411 | 0.8% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.2M | 8,233 | 0.8% | 3 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $1.2M | 1,435 | 0.8% | 3 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $1.2M | 24,437 | 0.8% | 3 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $1.1M | 1,560 | 0.8% | 2 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $1.1M | 6,048 | 0.8% | 2 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.1M | 19,878 | 0.7% | 3 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $1.1M | 12,728 | 0.7% | 3 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $1.1M | 5,814 | 0.7% | 3 |
| INVESCO EXCH TRADED FD TR II | [QQQJ](https://holderbook.com/stocks/QQQJ/) | $1.0M | 22,811 | 0.7% | 3 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $986.6K | 4,918 | 0.6% | 3 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $968.2K | 3,443 | 0.6% | 3 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $917.8K | 8,361 | 0.6% | 2 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $901.1K | 9,829 | 0.6% | 3 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $861.5K | 7,545 | 0.6% | 3 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $860.9K | 5,448 | 0.6% | 3 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $860.2K | 29,704 | 0.6% | 3 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $814.4K | 6,931 | 0.5% | 3 |
| ISHARES TR | [IJT](https://holderbook.com/stocks/IJT/) | $791.2K | 4,430 | 0.5% | 3 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $786.7K | 6,215 | 0.5% | 3 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $763.3K | 2,072 | 0.5% | 2 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $747.4K | 998 | 0.5% | 3 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $746.7K | 10,458 | 0.5% | 3 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $707.1K | 5,222 | 0.5% | 3 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $703.9K | 2,604 | 0.5% | 3 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $686.9K | 3,854 | 0.5% | 3 |
| VANECK ETF TRUST | [OIH](https://holderbook.com/stocks/OIH/) | $681.8K | 1,833 | 0.4% | 2 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $673.9K | 5,638 | 0.4% | 3 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $670.8K | 1,461 | 0.4% | 3 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $662.4K | 1,944 | 0.4% | 3 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $627.3K | 12,592 | 0.4% | 3 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $626.8K | 2,649 | 0.4% | 3 |
| VANGUARD INDEX FDS | [VOT](https://holderbook.com/stocks/VOT/) | $624.5K | 2,039 | 0.4% | 3 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $622.2K | 22,701 | 0.4% | 2 |
| VICOR CORP | [VICR](https://holderbook.com/stocks/VICR/) | $615.6K | 1,621 | 0.4% | 2 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $608.9K | 12,677 | 0.4% | 3 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $603.2K | 2,992 | 0.4% | 3 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $592.1K | 5,032 | 0.4% | 3 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $580.9K | 1,131 | 0.4% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $570.2K | 6,284 | 0.4% | 3 |
| RBC BEARINGS INC | [RBC](https://holderbook.com/stocks/RBC/) | $543.6K | 844 | 0.4% | 3 |
| IVANHOE ELECTRIC INC | [IE](https://holderbook.com/stocks/IE/) | $527.2K | 54,861 | 0.3% | 3 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $517.0K | 431 | 0.3% | 3 |
| ISHARES TR | [IDEV](https://holderbook.com/stocks/IDEV/) | $512.5K | 5,758 | 0.3% | 2 |
| GLOBAL X FDS | [AIQ](https://holderbook.com/stocks/AIQ/) | $508.3K | 7,748 | 0.3% | 1 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $507.9K | 6,064 | 0.3% | 2 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $505.7K | 4,704 | 0.3% | 3 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $503.3K | 538 | 0.3% | 3 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $502.6K | 472 | 0.3% | 3 |
| RAYMOND JAMES FINL INC | [RJF](https://holderbook.com/stocks/RJF/) | $489.3K | 3,219 | 0.3% | 3 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $485.4K | 2,031 | 0.3% | 2 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $473.5K | 2,771 | 0.3% | 1 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $468.1K | 589 | 0.3% | 3 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $462.7K | 12,523 | 0.3% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $460.9K | 1,109 | 0.3% | 3 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $453.1K | 1,447 | 0.3% | 3 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $450.1K | 4,976 | 0.3% | 2 |
| USA RARE EARTH INC | [USAR](https://holderbook.com/stocks/USAR/) | $449.6K | 20,835 | 0.3% | 3 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $436.7K | 604 | 0.3% | 1 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $432.9K | 1,375 | 0.3% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $423.5K | 2,890 | 0.3% | 3 |
| OCEANEERING INTL INC | [OII](https://holderbook.com/stocks/OII/) | $409.4K | 10,104 | 0.3% | 3 |
| TRACTOR SUPPLY CO | [TSCO](https://holderbook.com/stocks/TSCO/) | $407.2K | 12,882 | 0.3% | 3 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $401.6K | 7,491 | 0.3% | 3 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $397.4K | 1,175 | 0.3% | 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 | +9.9% | +14.8% | -4.9% | 100% |
| Q1 2026 | -4.0% | -4.6% | +0.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $152.2M | 169 |
| Q1 2026 | $137.8M | 152 |
| Q4 2025 | $111.8M | 135 |