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Livermore
Livermore
ZHEN

Summit Trail Advisors, LLC

SEC CIK
0001698478
Latest filing
Aug 11, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 17, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
1,303
−25 vs. Q3 2025
Portfolio value
$5.78B
−$1.45B (−20.0%) vs. Q3 2025
Filed
Feb 17, 2026
SEC
Holdings of Summit Trail Advisors, LLC in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
Vanguard Intermediate-Term Corporate Bond ETF92206C870ETF3,579$299.7K<0.1%00.0%Unchanged–
GSKGSK plcADR6,098$301.7K<0.1%−4,575−42.9%ReducedHistory
JPMorgan Ultra-Short Income ETF46641Q837ETF5,971$303.1K<0.1%00.0%Unchanged–
J P Morgan Exchange Traded F46641Q670CORE PLUS BD ETF6,493$308.7K<0.1%00.0%Unchanged–
MPTMedical Properties Trust IncCOM61,026$309.4K<0.1%+17,508+40.2%AddedHistory
HURNHuron Consulting Group Inc.Stock1,804$311.9K<0.1%+1,804NewHistory
iShares Core S&P U.S. Growth ETF464287671ETF1,865$313.2K<0.1%00.0%Unchanged–
SFDSmithfield Foods IncCOM14,129$315.5K<0.1%+14,129NewHistory
Vanguard Total International Bond ETF92203J407ETF6,578$317.8K<0.1%+41+0.6%Added–
Invesco S&P 500 Quality ETF46137V241ETF4,250$319.0K<0.1%−2,685−38.7%Reduced–
APGAPi Group CorpCOM STK8,419$322.1K<0.1%−9,800−53.8%ReducedHistory
NVONovo Nordisk A SADR6,405$325.9K<0.1%−3,054−32.3%ReducedHistory
iShares Tr464289859CORE 80 20 ETF3,674$329.0K<0.1%00.0%Unchanged–
RAREUltragenyx Pharmaceutical Inc.COM14,339$329.8K<0.1%+5,497+62.2%AddedHistory
iShares Russell 2000 Growth ETF464287648ETF1,032$333.3K<0.1%+29+2.9%Added–
FTITechnipFMC plcCOM7,483$333.4K<0.1%+600+8.7%AddedHistory
SOLSSolstice Advanced Materials Inc.COM SHS6,866$333.6K<0.1%+6,866NewHistory
FOCLEdap TMS SASPONSORED ADR102,339$336.7K<0.1%00.0%UnchangedHistory
ABAlliancebernstein Holding L.P.UNIT LTD PARTN8,755$336.9K<0.1%00.0%UnchangedHistory
CYTKCytokinetics IncCOM NEW5,388$342.4K<0.1%−376−6.5%ReducedHistory
FRPTFreshpet, Inc.Stock5,664$345.1K<0.1%+5,664NewHistory
FTVFortive CorpStock6,268$346.1K<0.1%+512+8.9%AddedHistory
APLSApellis Pharmaceuticals, Inc.COM13,851$347.9K<0.1%+3,575+34.8%AddedHistory
ATIAti IncStock3,038$348.6K<0.1%−1,782−37.0%ReducedHistory
MPLXMPLX LPCOM UNIT REP LTD6,600$352.2K<0.1%+632+10.6%AddedHistory
SAIASaia IncCOM1,083$353.6K<0.1%+323+42.5%AddedHistory
XELBXCel Brands, Inc.COM330,950$357.4K<0.1%00.0%UnchangedHistory
ELFe.l.f. Beauty, Inc.COM4,729$359.6K<0.1%+2,271+92.4%AddedHistory
JPMorgan Nasdaq Equity Premium Income ETF46654Q203ETF6,162$361.7K<0.1%+51+0.8%Added–
GTLBGitlab Inc.CLASS A COM9,667$362.8K<0.1%+3,057+46.2%AddedHistory
BIRKBirkenstock Holding plcCOM SHS8,905$364.2K<0.1%+982+12.4%AddedHistory
SANBanco Santander, S.A.ADR31,155$365.4K<0.1%−10,470−25.2%ReducedHistory
CARTMaplebear Inc.COM8,133$365.8K<0.1%−570−6.5%ReducedHistory
XPROExpro LtdCOM27,561$367.9K<0.1%−146−0.5%ReducedHistory
CRCLCircle Internet Group, Inc.COM CL A4,644$368.3K<0.1%+4,644NewHistory
AAONAaon, Inc.COM PAR $0.0044,832$368.4K<0.1%−1,113−18.7%ReducedHistory
BMRNBiomarin Pharmaceutical IncCOM6,203$368.6K<0.1%+686+12.4%AddedHistory
MUFGMitsubishi Ufj Financial Group IncSPONSORED ADS23,423$371.5K<0.1%−13,632−36.8%ReducedHistory
PCGPG&E CorpStock23,069$371.9K<0.1%+4,499+24.2%AddedHistory
BRBRBellring Brands, Inc.Stock13,921$372.1K<0.1%+2,842+25.7%AddedHistory
CHHChoice Hotels International IncCOM3,918$373.2K<0.1%+3,918NewHistory
PSNParsons CorpCOM6,053$374.1K<0.1%+2,086+52.6%AddedHistory
POOLPool CorpCOM1,640$375.1K<0.1%−160−8.9%ReducedHistory
WisdomTree Tr97717W422INDIA ERNGS FD8,181$378.7K<0.1%−284,886−97.2%Reduced–
HIWHighwoods Properties, Inc.COM14,743$380.7K<0.1%−46,670−76.0%ReducedHistory
TEMTempus AI, Inc.CL A6,461$381.5K<0.1%+3,467+115.8%AddedHistory
MRPMillrose Properties, Inc.COM CL A12,777$381.6K<0.1%+2,368+22.7%AddedHistory
RSReliance, Inc.COM1,325$382.8K<0.1%−128−8.8%ReducedHistory
IOTSamsara Inc.Stock10,817$383.5K<0.1%−244−2.2%ReducedHistory
iShares Tr464287184CHINA LG-CAP ETF10,015$383.5K<0.1%00.0%Unchanged–
NLYAnnaly Capital Management IncREIT16,633$383.6K<0.1%+1,360+8.9%AddedHistory
CORZCore Scientific, Inc.COM26,539$386.4K<0.1%−6,818−20.4%ReducedHistory
Schwab U.S. Small-Cap ETF808524607ETF13,606$387.5K<0.1%+364+2.7%Added–
STAGSTAG Industrial, Inc.COM10,520$388.0K<0.1%+3,220+44.1%AddedHistory
iShares Russell Mid-Cap Growth ETF464287481ETF2,840$388.9K<0.1%−258−8.3%Reduced–
OGNOrganon & Co.Stock54,583$391.4K<0.1%+31,944+141.1%AddedHistory
PRPermian Resources CorpCLASS A COM27,956$392.2K<0.1%−4,578−14.1%ReducedHistory
CVCOCavco Industries, Inc.COM666$393.4K<0.1%+36+5.7%AddedHistory
SRPTSarepta Therapeutics, Inc.COM18,386$395.7K<0.1%+18,386NewHistory
iShares Tr464288687PFD AND INCM SEC12,900$399.4K<0.1%+5,000+63.3%Added–
ONTOOnto Innovation Inc.COM2,535$400.2K<0.1%−892−26.0%ReducedHistory
iShares Inc464286400MSCI BRAZIL ETF12,588$401.3K<0.1%00.0%Unchanged–
iShares Tr464287788U.S. FINLS ETF3,134$404.1K<0.1%00.0%Unchanged–
PRMBPrimo Brands CorpCLASS A COM SHS24,861$406.5K<0.1%+24,861NewHistory
HSBCHSBC Holdings PLCSPON ADR NEW5,176$407.2K<0.1%−2,461−32.2%ReducedHistory
ARAntero Resources CorpCOM11,818$407.2K<0.1%−580,420−98.0%ReducedHistory
Vanguard Morningstar Small-Cap Value ETF922908611ETF1,926$407.9K<0.1%+44+2.3%Added–
WHRWhirlpool CorpStock5,659$408.3K<0.1%−693−10.9%ReducedHistory
NVRNVR IncCOM56$408.4K<0.1%−2−3.4%ReducedHistory
LOARLoar Holdings Inc.COM SHS6,017$409.2K<0.1%−56−0.9%ReducedHistory
GLIBALiberty Capital CorpSER A GCI GROUP11,181$412.2K<0.1%+5,188+86.6%AddedHistory
NBIXNeurocrine Biosciences IncStock2,919$414.0K<0.1%+172+6.3%AddedHistory
DVDoubleVerify Holdings, Inc.COM36,446$416.9K<0.1%+14,879+69.0%AddedHistory
FSKFS KKR Capital CorpCOM28,236$418.2K<0.1%+28,236NewHistory
BROSDutch Bros Inc.CL A6,847$419.2K<0.1%+499+7.9%AddedHistory
CAVACava Group, Inc.COM7,168$420.7K<0.1%+2,003+38.8%AddedHistory
VIKViking Holdings LtdORD SHS5,902$421.5K<0.1%+5,902NewHistory
INGMIngram Micro Holding CorpCOM19,879$424.2K<0.1%+757+4.0%AddedHistory
ONONOn Holding AGStock9,130$424.4K<0.1%−621−6.4%ReducedHistory
AIZAssurant, Inc.Stock1,765$425.1K<0.1%−1,262−41.7%ReducedHistory
TPGTPG Inc.COM CL A6,672$425.9K<0.1%−2,219−25.0%ReducedHistory
MSTRStrategy IncStock2,804$426.1K<0.1%−457−14.0%ReducedHistory
J P Morgan Exchange Traded F46654Q575MORTGAGE BACKED8,318$426.2K<0.1%−388−4.5%Reduced–
CNHCNH Industrial N.V.SHS46,352$427.4K<0.1%+6,393+16.0%AddedHistory
XPXP Inc.CL A26,134$427.8K<0.1%+3,850+17.3%AddedHistory
LINELineage, Inc.COM12,119$430.6K<0.1%+3,687+43.7%AddedHistory
COOCooper Companies, Inc.COM5,270$431.9K<0.1%−9,334−63.9%ReducedHistory
FLUTFlutter Entertainment plcSHS2,022$434.8K<0.1%+405+25.0%AddedHistory
EIXEdison InternationalStock7,265$436.0K<0.1%+647+9.8%AddedHistory
FDUSFidus Investment CorpCOM22,616$436.5K<0.1%+114+0.5%AddedHistory
KNSLKinsale Capital Group, Inc.Stock1,117$436.9K<0.1%+574+105.7%AddedHistory
TTETotalEnergies SEACT6,688$437.4K<0.1%−2,584−27.9%ReducedHistory
SAILSailPoint, Inc.COM21,855$442.1K<0.1%+10,192+87.4%AddedHistory
WESWestern Midstream Partners, LPCOM UNIT LP INT11,235$443.8K<0.1%+23+0.2%AddedHistory
HALOHalozyme Therapeutics, Inc.COM6,606$444.6K<0.1%+3,125+89.8%AddedHistory
TFSLTFS Financial CORPCOM33,373$446.5K<0.1%−2,231−6.3%ReducedHistory
BXSLBlackstone Secured Lending FundCOMMON STOCK16,619$450.4K<0.1%+16,619NewHistory
LYFTLyft, Inc.CL A COM23,495$455.1K<0.1%+2,045+9.5%AddedHistory
ASAmer Sports, Inc.COM SHS12,230$456.8K<0.1%−2,871−19.0%ReducedHistory
HLNEHamilton Lane INCCL A3,431$462.2K<0.1%+975+39.7%AddedHistory

Sold out since Q3 2025 (76)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of Summit Trail Advisors, LLC sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
JDJD.com, Inc.SPON ADS CL A143,704$5.03M0.1%History
WisdomTree Tr97717X669US QTLY DIV GRT51,540$4.59M0.1%–
Kraneshares Trust500767306CSI CHI INTERNET84,824$3.56M<0.1%–
SPRSpirit AeroSystems Holdings, Inc.COM CL A68,817$2.66M<0.1%History
FROGJFrog LtdStock53,920$2.55M<0.1%History
KKellanovaStock30,840$2.53M<0.1%History
First Tr Exchange-Traded FD33734X846NASDAQ CYB ETF30,290$2.30M<0.1%–
GBTCGrayscale Bitcoin Trust ETFETF23,545$2.11M<0.1%History
CGBDCarlyle Secured Lending, Inc.COM146,027$1.88M<0.1%History
SPDR Index Shs FDS78463X400SP CHINA ETF16,954$1.78M<0.1%–
YEXTYext, Inc.COM191,500$1.63M<0.1%History
TENBTenable Holdings, Inc.COM51,203$1.49M<0.1%History
IPGInterpublic Group of Companies, Inc.COM53,485$1.49M<0.1%History
PINCPremier, Inc.CL A45,715$1.27M<0.1%History
KRYSKrystal Biotech, Inc.COM6,464$1.14M<0.1%History
ULUnilever PLCSPON ADR NEW17,547$1.04M<0.1%History
STWDStarwood Property Trust, Inc.COM50,524$1.00M<0.1%History
SLViShares Silver TrustETF21,150$896.1K<0.1%History
ETHAiShares Ethereum Trust ETFSHS24,894$784.4K<0.1%History
Vanguard Intl Equity Index F922042874FTSE EUROPE ETF9,044$721.7K<0.1%–
INFAInformatica Inc.COM CL A25,598$635.9K<0.1%History
SESea LtdSPONSORD ADS2,762$493.7K<0.1%History
iShares Tr464288885EAFE GRWTH ETF4,201$478.4K<0.1%–
DKDelek US Holdings, Inc.COM13,393$432.2K<0.1%History
BIPCBrookfield Infrastructure CorpCOM SUB VTG A9,774$401.9K<0.1%History
BBVABanco Bilbao Vizcaya Argentaria, S.A.SPONSORED ADR19,289$371.3K<0.1%History
OPENOpendoor Technologies Inc.COM44,647$355.8K<0.1%History
RACEFerrari N.V.COM687$333.1K<0.1%History
BEBloom Energy CorpCOM CL A3,853$325.8K<0.1%History
TMToyota Motor CorpADS1,664$318.0K<0.1%History
Invesco Nasdaq 100 ETF46138G649ETF1,284$317.3K<0.1%–
RALRalliant CorpStock7,144$312.4K<0.1%History
WFRDWeatherford International plcORD SHS4,313$295.1K<0.1%History
OSCROscar Health, Inc.CL A15,467$292.8K<0.1%History
UPSTUpstart Holdings, Inc.COM5,688$288.9K<0.1%History
WCNWaste Connections, Inc.COM1,625$285.7K<0.1%History
ESLTElbit Systems LtdStock559$284.7K<0.1%History
CORTCorcept Therapeutics IncCOM3,148$261.6K<0.1%History
BHPBHP Group LtdADR4,566$254.6K<0.1%History
IBNIcici Bank LtdADR7,853$237.4K<0.1%History
SMFGSumitomo Mitsui Financial Group, Inc.SPONSORED ADR14,055$235.3K<0.1%History
LNWOLight & Wonder, Inc.COM2,788$234.0K<0.1%History
SNYSanofiSPONSORED ADR4,933$232.8K<0.1%History
BPBP PLCADR6,671$229.9K<0.1%History
State Street Materials Select Sector SPDR ETF81369Y100ETF2,404$215.4K<0.1%–
COOPMaverick Merger Sub 2, LLCCOM1,018$215.1K<0.1%History
Neuberger Berman ETF Trust64135A705OPT STRATEGY ETF7,962$213.9K<0.1%–
CNXCNX Resources CorpCOM6,622$212.7K<0.1%History
ARGXArgenx SESPONSORED ADR286$210.9K<0.1%History
GRABGrab Holdings LtdCLASS A ORD34,970$210.5K<0.1%History
BTIBritish American Tobacco p.l.c.SPONSORED ADR3,951$209.7K<0.1%History
GLXYGalaxy Digital Inc.CL A6,200$209.6K<0.1%History
CHWYChewy, Inc.CL A5,122$207.2K<0.1%History
HQYHealthequity, Inc.COM2,170$205.7K<0.1%History
INGING Groep NVSPONSORED ADR7,861$205.0K<0.1%History
BUDAnheuser-Busch InBev SA/NVADR3,411$203.3K<0.1%History
RIORio Tinto PLCADR3,047$201.2K<0.1%History
MQTBlackRock Muniyield Quality Fund II, Inc.COM17,649$196.5K<0.1%History
RPCRidgepost Capital, Inc.CL A COM13,859$150.8K<0.1%History
HLNHaleon plcADR16,542$148.4K<0.1%History
NZFNuveen Municipal Credit Income FundCOM SH BEN INT10,991$138.9K<0.1%History
VGMInvesco Trust for Investment Grade MunicipalsCOM13,644$138.1K<0.1%History
NEANuveen AMT-Free Quality Municipal Income FundCOM11,993$137.4K<0.1%History
NADNuveen Quality Municipal Income FundCOM11,601$136.5K<0.1%History
VMOInvesco Municipal Opportunity TrustCOM14,063$136.0K<0.1%History
VKQInvesco Municipal TrustCOM14,083$135.9K<0.1%History
MHDBlackRock Muniholdings Fund, Inc.COM11,350$134.1K<0.1%History
MQYBlackRock Muniyield Quality Fund, Inc.COM11,294$132.2K<0.1%History
HPPHudson Pacific Properties, Inc.COM39,188$108.2K<0.1%History
VSTSVestis CorpCOM SHS22,781$103.2K<0.1%History
NOKNokia CorpSPONSORED ADR19,791$95.2K<0.1%History
PCQPIMCO California Municipal Income FundCOM10,305$90.2K<0.1%History
ICLICL Group Ltd.SHS10,968$68.7K<0.1%History
COTYCoty Inc.COM CL A14,078$56.9K<0.1%History
XRXXerox Holdings CorpCOM NEW13,525$51.1K<0.1%History
BTBTBit Digital, IncSHS10,000$30.0K<0.1%History