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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
EXLSExlService Holdings, Inc.COM10,897$462.5K<0.1%+65+0.6%AddedHistory
JHXJames Hardie Industries plcStock22,299$462.7K<0.1%+9,677+76.7%AddedHistory
PATHUiPath, Inc.Stock28,263$463.2K<0.1%−21,029−42.7%ReducedHistory
ROIVRoivant Sciences Ltd.SHS21,440$465.2K<0.1%+3,360+18.6%AddedHistory
RVMDRevolution Medicines, Inc.COM5,861$466.8K<0.1%+1,357+30.1%AddedHistory
ALTIAlTi Global, Inc.CL A101,039$468.8K<0.1%00.0%UnchangedHistory
DRSLeonardo DRS, Inc.Stock13,790$470.1K<0.1%+2,100+18.0%AddedHistory
CIVICivitas Resources, Inc.EQUITY US CM17,406$471.5K<0.1%+2,332+15.5%AddedHistory
WTRGEssential Utilities, Inc.COM12,302$471.9K<0.1%−3,230−20.8%ReducedHistory
RITMRithm Capital Corp.REIT42,642$475.5K<0.1%−18,862−30.7%ReducedHistory
APPFAppfolio IncCOM CL A2,044$475.5K<0.1%+649+46.5%AddedHistory
MPBMid Penn Bancorp IncCOM15,341$475.9K<0.1%−91−0.6%ReducedHistory
SLDESlide Insurance Holdings, Inc.COM24,446$476.2K<0.1%+24,446NewHistory
GXOGXO Logistics, Inc.Stock9,078$477.9K<0.1%+2,587+39.9%AddedHistory
SPDR Index Shs FDS78463X756ST MARKE CAP ETF7,307$479.8K<0.1%−4,075−35.8%Reduced–
SSentinelOne, Inc.CL A31,993$479.9K<0.1%−129,116−80.1%ReducedHistory
IBKRInteractive Brokers Group, Inc.Stock7,489$481.6K<0.1%+1,150+18.1%AddedHistory
Invesco Exch TRD SLF Idx FD46138J510BULSHS 2026 MUNI20,387$482.1K<0.1%+20,387New–
OBDCBlue Owl Capital CorpCOM37,834$484.3K<0.1%+37,834NewHistory
AMAntero Midstream CorpStock27,237$484.5K<0.1%+788+3.0%AddedHistory
Invesco Exch TRD SLF Idx FD46138J478BULSHS 2029 MUNI21,040$487.1K<0.1%+21,040New–
STBAS&T Bancorp IncCOM12,393$487.7K<0.1%−170−1.4%ReducedHistory
Invesco Exch TRD SLF Idx FD46138J445INVSC 30 MUNI BD22,191$488.8K<0.1%+22,191New–
Invesco Exch TRD SLF Idx FD46138J411BULLETSHS 31 MUN23,141$489.1K<0.1%+23,141New–
Invesco Exch TRD SLF Idx FD46139W791BULLE MUN ETF18,934$489.5K<0.1%+18,934New–
EQNREquinor ASASPONSORED ADR20,881$493.4K<0.1%−1,087−4.9%ReducedHistory
PLTKPlaytika Holding Corp.COM123,633$493.9K<0.1%−13,225−9.7%ReducedHistory
SPDR Index Shs FDS78463X509ST PORT MARK ETF10,566$494.6K<0.1%00.0%Unchanged–
UTHRUnited Therapeutics CorpCOM1,016$495.0K<0.1%−80−7.3%ReducedHistory
CFLTConfluent, Inc.CLASS A COM16,425$496.7K<0.1%−1,863−10.2%ReducedHistory
TKOTKO Group Holdings, Inc.CL A2,397$501.0K<0.1%−127−5.0%ReducedHistory
ARESAres Management CorpCL A COM STK3,102$501.4K<0.1%−982−24.0%ReducedHistory
SAROStandardAero, Inc.COM17,659$506.5K<0.1%+814+4.8%AddedHistory
SFMSprouts Farmers Market, Inc.COM6,409$510.6K<0.1%+1,564+32.3%AddedHistory
UWMCUWM Holdings CorpCOM CL A114,457$510.8K<0.1%+30,072+35.6%AddedHistory
FBTCFidelity Wise Origin Bitcoin FundSHS6,714$511.8K<0.1%+143+2.2%AddedHistory
MTDRMatador Resources CoCOM12,077$512.5K<0.1%+596+5.2%AddedHistory
BBWIBath & Body Works, Inc.COM25,536$512.8K<0.1%+1,567+6.5%AddedHistory
WBSWebster Financial CorpCOM8,186$515.2K<0.1%+214+2.7%AddedHistory
FIGRFigure Technology Solutions, Inc.Stock12,686$518.1K<0.1%+12,686NewHistory
Clearway Energy, Inc.18539C105CL A16,604$521.7K<0.1%−8,567−34.0%Reduced–
Vanguard Morningstar Mid-Cap ETF922908629ETF1,800$522.5K<0.1%+122+7.3%Added–
SSDSimpson Manufacturing Co., Inc.COM3,238$522.8K<0.1%−1,466−31.2%ReducedHistory
LBTYALiberty Global Ltd.COM CL A46,962$523.2K<0.1%+22,835+94.6%AddedHistory
ESABESAB CorpCOM4,700$525.6K<0.1%+2,322+97.6%AddedHistory
VNOMViper Energy, Inc.CL A13,612$525.8K<0.1%−871−6.0%ReducedHistory
SOLVSolventum CorpStock6,643$526.4K<0.1%−1,263−16.0%ReducedHistory
State Street Financial Select Sector SPDR ETF81369Y605ETF9,617$526.7K<0.1%−113−1.2%Reduced–
CHRDChord Energy CorpCOM NEW5,743$532.4K<0.1%+554+10.7%AddedHistory
VKTXViking Therapeutics, Inc.COM15,194$534.5K<0.1%+15,194NewHistory
GLREGreenlight Capital Re, Ltd.CLASS A36,731$535.5K<0.1%+392+1.1%AddedHistory
NVSNovartis AGADR3,888$536.0K<0.1%−3,169−44.9%ReducedHistory
DINOHF Sinclair CorpCOM11,651$536.9K<0.1%+1,603+16.0%AddedHistory
IAUMiShares Gold Trust MicroSHS REPSTG UN TR12,500$537.4K<0.1%+3,800+43.7%AddedHistory
RYANRyan Specialty Holdings, Inc.CL A10,413$537.6K<0.1%+431+4.3%AddedHistory
IESCIES Holdings, Inc.COM1,382$537.6K<0.1%+17+1.2%AddedHistory
RNRRenaissancere Holdings LtdCOM1,915$538.4K<0.1%−4,146−68.4%ReducedHistory
DOCHealthpeak Properties, Inc.COM33,847$544.3K<0.1%−14,927−30.6%ReducedHistory
AVTRAvantor, Inc.COM47,551$544.9K<0.1%+13,397+39.2%AddedHistory
LBRDALiberty Broadband CorpCOM SER A11,334$547.2K<0.1%+2,216+24.3%AddedHistory
ASTSAST SpaceMobile, Inc.COM CL A7,581$550.6K<0.1%+2,100+38.3%AddedHistory
GPNGlobal Payments IncStock7,185$556.1K<0.1%−3,326−31.6%ReducedHistory
CNXCConcentrix CorpStock13,391$556.8K<0.1%+84+0.6%AddedHistory
NTRANatera, Inc.COM2,435$557.8K<0.1%−347−12.5%ReducedHistory
XXITwenty One Capital, Inc.COM SHS CL A63,700$558.0K<0.1%+63,700NewHistory
ADCAgree Realty CorpCOM7,743$559.8K<0.1%−1,301−14.4%ReducedHistory
QSQuantumScape CorpCOM CL A53,831$560.9K<0.1%+17,679+48.9%AddedHistory
RKLBRocket Lab CorpCOM8,110$565.8K<0.1%+236+3.0%AddedHistory
CERTCertara, Inc.COM64,794$570.8K<0.1%+19,403+42.7%AddedHistory
VTRSViatris IncStock46,103$574.0K<0.1%+7,367+19.0%AddedHistory
TDOCTeladoc Health, Inc.COM82,486$577.4K<0.1%+30,109+57.5%AddedHistory
RIVNRivian Automotive, Inc.Stock29,505$581.5K<0.1%−282−0.9%ReducedHistory
SBRSabine Royalty TrustUNIT BEN INT8,500$582.8K<0.1%00.0%UnchangedHistory
BEPCBrookfield Renewable CorpCL A EX SUB VTG15,287$586.1K<0.1%+4,691+44.3%AddedHistory
TTDTrade Desk, Inc.Stock15,471$587.3K<0.1%−5,666−26.8%ReducedHistory
FNDFloor & Decor Holdings, Inc.CL A9,668$588.7K<0.1%−6,542−40.4%ReducedHistory
REXRRexford Industrial Realty, Inc.COM15,168$593.8K<0.1%+4,350+40.2%AddedHistory
iShares S&P Mid-Cap 400 Growth ETF464287606ETF6,130$593.8K<0.1%−7,075−53.6%Reduced–
AUAngloGold Ashanti PLCCOM SHS6,974$594.7K<0.1%+942+15.6%AddedHistory
DUOLDuolingo, Inc.CL A COM3,396$596.0K<0.1%+1,751+106.4%AddedHistory
DBX ETF Tr233051879XTRACK HRVST CSI18,247$599.4K<0.1%00.0%Unchanged–
CELHCelsius Holdings, Inc.COM NEW13,131$600.6K<0.1%+4,912+59.8%AddedHistory
FHNFirst Horizon CorpCOM25,067$602.9K<0.1%+303+1.2%AddedHistory
PCORProcore Technologies, Inc.COM8,339$606.6K<0.1%+69+0.8%AddedHistory
Kraneshares Trust500767678GLOBAL CARB STRA17,138$606.7K<0.1%−69,099−80.1%Reduced–
XRAYDentsply Sirona Inc.Stock52,960$610.6K<0.1%+3,579+7.2%AddedHistory
HHHHoward Hughes Holdings Inc.COM7,703$614.5K<0.1%+2,627+51.8%AddedHistory
PENPenumbra IncCOM1,987$617.8K<0.1%−3,133−61.2%ReducedHistory
State Street Utilities Select Sector SPDR ETF81369Y886ETF14,493$618.7K<0.1%−22,889−61.2%ReducedConverted for a 2-for-1 split–
SAPSAP SEADR2,563$622.6K<0.1%−1,535−37.5%ReducedHistory
TIGOMillicom International Cellular SACOM STK11,254$623.9K<0.1%+6,608+142.2%AddedHistory
MTSIMACOM Technology Solutions Holdings, Inc.COM3,648$624.8K<0.1%−2,888−44.2%ReducedHistory
RBARB Global Inc.COM6,153$633.0K<0.1%+833+15.7%AddedHistory
EGEverest Group, Ltd.COM1,868$633.7K<0.1%−30−1.6%ReducedHistory
CHTRCharter Communications, Inc.CL A3,055$637.7K<0.1%−126−4.0%ReducedHistory
KRMNKarman Holdings Inc.COMMON STOCK8,717$637.8K<0.1%+5,777+196.5%AddedHistory
QGENQiagen N.V.COMMON STOCK14,164$641.3K<0.1%+2,568+22.1%AddedHistory
BRXBrixmor Property Group Inc.COM24,656$646.5K<0.1%+3,863+18.6%AddedHistory
DTMDT Midstream, Inc.COMMON STOCK5,376$647.3K<0.1%−1,539−22.3%ReducedHistory
ENOVEnovis CORPCOM24,516$653.1K<0.1%−8,032−24.7%ReducedHistory

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