BBR PARTNERS, LLC

NEW YORK, NY · CIK 1352467 · 13F filing filed 2025-11-07

SEC-registered investment adviser since 2000 · limited liability company

Assets managed$36.5bn
Staff175 · 53 in investment roles
Main clients (by assets)High net worth individuals 76%, Private funds 19%, Mutual funds and ETFs 5%
Private funds41 (8 hedge) · $7.1bn gross assets
Websitebbrpartners.com
Form ADV · 2026-07-30SEC adviser record

Legal entityBBR PARTNERS, LLC (US)

$1.7bn reported value +8.0% vs Q2 2025

270positions

71.3%in top 10

40 new 102 added 38 reduced 6 sold out vs Q2 2025

Holdings, Q3 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,017,647	$677.9m39.09%	39.09%	Added +6.7k	+6,725 0.7%
2	AB ACTIVE ETFS INC INTL LOW VOLATLT ILOW	ILOW	3,638,312	$154.7m8.92%	8.92%	Added +1.4m	+1,433,823 65.0%
3	ISHARES TR CORE S&P500 ETF IVV	IVV	189,410	$126.8m7.31%	7.31%	Reduced -38	-38 -0.0%
4	UNITED PARCEL SERVICE INC CL B UPS	UPS	756,417	$63.2m3.64%	3.64%	Added +2	+2 0.0%
5	APPLE INC COM AAPL	AAPL	214,671	$54.7m3.15%	3.15%	Reduced -22	-22 -0.0%
6	MICROSOFT CORP COM MSFT	MSFT	76,677	$39.7m2.29%	2.29%	Added +328	+328 0.4%
7	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	106,694	$35.0m2.02%	2.02%	Added +6	+6 0.0%
8	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	54,692	$33.5m1.93%	1.93%	Reduced -3.3k	-3,272 -5.6%
9	KKR & CO INC COM KKR	KKR	212,790	$27.7m1.59%	1.59%	Reduced -17.0k	-16,962 -7.4%
10	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	127,277	$24.1m1.39%	1.39%	Reduced -2.6k	-2,643 -2.0%
11	VANGUARD WORLD FD INF TECH ETF VGT	VGT	31,981	$23.9m1.38%	1.38%	Unchanged
12	PHILIP MORRIS INTL INC COM PM	PM	138,675	$22.5m1.30%	1.30%	Reduced -4.0k	-4,017 -2.8%
13	ALPHABET INC CAP STK CL A GOOGL	GOOGL	86,577	$21.0m1.21%	1.21%	Reduced -12.3k	-12,282 -12.4%
14	SPDR GOLD TR GOLD SHS GLD	GLD	44,527	$15.8m0.91%	0.91%	Added +29.4k	+29,450 195.3%
15	EXCHANGE LISTED FDS TR LONG POND REAL E LPRE	LPRE	596,709	$15.4m0.89%	0.89%	Added +478.5k	+478,491 404.8%
16	ALPHABET INC CAP STK CL C GOOG	GOOG	59,344	$14.5m0.83%	0.83%	Reduced -329	-329 -0.6%
17	ABBVIE INC COM ABBV	ABBV	54,323	$12.6m0.73%	0.73%	Added +79	+79 0.1%
18	DBX ETF TR XTRACK HRVST CSI ASHR	ASHR	298,919	$9.9m0.57%	0.57%	Unchanged
19	AMAZON COM INC COM AMZN	AMZN	43,970	$9.7m0.56%	0.56%	Reduced -620	-620 -1.4%
20	ISHARES TR CORE DIV GRWTH DGRO	DGRO	137,802	$9.4m0.54%	0.54%	Added +56	+56 0.0%
21	JPMORGAN CHASE & CO COM JPM	JPM	29,667	$9.4m0.54%	0.54%	Reduced -1.5k	-1,504 -4.8%
22	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	17,487	$8.8m0.51%	0.51%	Added +80	+80 0.5%
23	EXXON MOBIL CORP COM XOM	XOM	74,265	$8.4m0.48%	0.48%	Added +142	+142 0.2%
24	WALMART INC COM WMT	WMT	78,121	$8.1m0.46%	0.46%	Reduced -762	-762 -1.0%
25	ABBOTT LABS COM ABT	ABT	54,985	$7.4m0.42%	0.42%	Added +108	+108 0.2%
26	GOLDMAN SACHS GROUP INC COM GS	GS	9,085	$7.2m0.42%	0.42%	Added +45	+45 0.5%
27	ALTRIA GROUP INC COM MO	MO	107,869	$7.1m0.41%	0.41%	Added +105	+105 0.1%
28	VANGUARD INDEX FDS MID CAP ETF VO	VO	21,431	$6.3m0.36%	0.36%	Reduced -2.4k	-2,370 -10.0%
29	ISHARES TR U.S. TECH ETF IYW	IYW	30,740	$6.0m0.35%	0.35%	Added +11.8k	+11,758 61.9%
30	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	84,045	$6.0m0.35%	0.35%	Unchanged
31	ISHARES TR MSCI ACWI ETF ACWI	ACWI	41,563	$5.7m0.33%	0.33%	Unchanged
32	JOHNSON & JOHNSON COM JNJ	JNJ	29,647	$5.5m0.32%	0.32%	Added +136	+136 0.5%
33	ISHARES TR MSCI KLD400 SOC DSI	DSI	42,692	$5.4m0.31%	0.31%	Reduced -1.7k	-1,653 -3.7%
34	MASTERCARD INCORPORATED CL A MA	MA	9,207	$5.2m0.30%	0.30%	Reduced -88	-88 -0.9%
35	NU HLDGS LTD ORD SHS CL A NU	NU	325,095	$5.2m0.30%	0.30%	Added +9.1k	+9,069 2.9%
36	MONDELEZ INTL INC CL A MDLZ	MDLZ	81,154	$5.1m0.29%	0.29%	Added +252	+252 0.3%
37	META PLATFORMS INC CL A META	META	6,894	$5.1m0.29%	0.29%	Added +312	+312 4.7%
38	DIGIMARC CORP NEW COM COM		517,299	$5.1m0.29%	0.29%	Unchanged
39	ISHARES TR RUS 1000 GRW ETF IWF	IWF	10,719	$5.0m0.29%	0.29%	Unchanged
40	UNION PAC CORP COM UNP	UNP	19,513	$4.6m0.27%	0.27%	Added +26	+26 0.1%
41	ISHARES TR S&P 100 ETF OEF	OEF	13,441	$4.5m0.26%	0.26%	Unchanged
42	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	68,018	$4.4m0.25%	0.25%	Added +9.5k	+9,494 16.2%
43	DIMENSIONAL ETF TRUST US TARGETED VLU DFAT	DFAT	74,746	$4.4m0.25%	0.25%	Unchanged
44	ISHARES INC MSCI WORLD ETF URTH	URTH	22,439	$4.1m0.23%	0.23%	Reduced -518	-518 -2.3%
45	APPLIED MATLS INC COM AMAT	AMAT	19,207	$3.9m0.23%	0.23%	Added +73	+73 0.4%
46	ISHARES TR MSCI INTL QUALTY IQLT	IQLT	85,010	$3.8m0.22%	0.22%	Unchanged
47	KINDER MORGAN INC DEL COM KMI	KMI	130,834	$3.7m0.21%	0.21%	Added +78	+78 0.1%
48	VISA INC COM CL A V	V	10,829	$3.7m0.21%	0.21%	Added +99	+99 0.9%
49	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	49,957	$3.7m0.21%	0.21%	Added +18	+18 0.0%
50	APOLLO GLOBAL MGMT INC COM APO	APO	26,715	$3.6m0.21%	0.21%	Added +10.7k	+10,700 66.8%
51	BP PLC SPONSORED ADR BP	BP	102,594	$3.5m0.20%	0.20%	Unchanged
52	ARES CAPITAL CORP COM ARCC	ARCC	156,211	$3.2m0.18%	0.18%	Added +7	+7 0.0%
53	ROBLOX CORP CL A RBLX	RBLX	22,845	$3.2m0.18%	0.18%	Reduced -3.1k	-3,100 -11.9%
54	SELECT SECTOR SPDR TR SBI CONS STPLS XLP	XLP	39,309	$3.1m0.18%	0.18%	Added +5.5k	+5,539 16.4%
55	SERVICENOW INC COM NOW	NOW	3,234	$3.0m0.17%	0.17%	Added +7	+7 0.2%
56	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	21,566	$3.0m0.17%	0.17%	Unchanged
57	HOME DEPOT INC COM HD	HD	7,231	$2.9m0.17%	0.17%	Added +54	+54 0.8%
58	CHEVRON CORP NEW COM CVX	CVX	18,710	$2.9m0.17%	0.17%	Added +48	+48 0.3%
59	FIRST TR NASDAQ 100 TECH IND SHS QTEC	QTEC	11,888	$2.7m0.16%	0.16%	Unchanged
60	COSTCO WHSL CORP NEW COM COST	COST	2,926	$2.7m0.16%	0.16%	Reduced -84	-84 -2.8%
61	PARKER-HANNIFIN CORP COM PH	PH	3,385	$2.6m0.15%	0.15%	Added +7	+7 0.2%
62	AXIS CAP HLDGS LTD SHS AXS	AXS	26,666	$2.6m0.15%	0.15%	Unchanged
63	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	8,771	$2.5m0.14%	0.14%	Added +7.8k	+7,794 797.8%
64	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	3,956	$2.4m0.14%	0.14%	Added +302	+302 8.3%
65	VANGUARD MALVERN FDS STRM INFPROIDX VTIP	VTIP	46,632	$2.4m0.14%	0.14%	Unchanged
66	SHELL PLC SPON ADS SHEL	SHEL	32,890	$2.4m0.14%	0.14%	Unchanged
67	DOVER CORP COM DOV	DOV	14,000	$2.3m0.13%	0.13%	Unchanged
68	COCA COLA CO COM KO	KO	34,450	$2.3m0.13%	0.13%	Added +154	+154 0.5%
69	BERKSHIRE HATHAWAY INC DEL CL A BRK.A	BRK.A	3	$2.3m0.13%	0.13%	Unchanged
70	GE AEROSPACE COM NEW GE	GE	7,306	$2.2m0.13%	0.13%	Added +1.1k	+1,059 16.9%
71	MCDONALDS CORP COM MCD	MCD	7,026	$2.1m0.12%	0.12%	Added +35	+35 0.5%
72	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	34,851	$2.1m0.12%	0.12%	Added +356	+356 1.0%
73	ISHARES TR RUS 1000 VAL ETF IWD	IWD	10,159	$2.1m0.12%	0.12%	Reduced -117	-117 -1.1%
74	AMGEN INC COM AMGN	AMGN	7,117	$2.0m0.12%	0.12%	Added +32	+32 0.5%
75	CATERPILLAR INC COM CAT	CAT	4,176	$2.0m0.11%	0.11%	Added +40	+40 1.0%
76	PRINCIPAL FINANCIAL GROUP IN COM PFG	PFG	22,026	$1.8m0.11%	0.11%	Added +25	+25 0.1%
77	PROCTER AND GAMBLE CO COM PG	PG	11,599	$1.8m0.10%	0.10%	Added +154	+154 1.4%
78	ISHARES TR S&P 500 GRWT ETF IVW	IVW	14,102	$1.7m0.10%	0.10%	Unchanged
79	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	5,754	$1.7m0.10%	0.10%	Reduced -290	-290 -4.8%
80	MESA LABS INC COM MLAB	MLAB	25,195	$1.7m0.10%	0.10%	Unchanged
81	CBRE GROUP INC CL A CBRE	CBRE	10,402	$1.6m0.09%	0.09%	Unchanged
82	NVIDIA CORPORATION COM NVDA	NVDA	8,670	$1.6m0.09%	0.09%	Added +1.5k	+1,527 21.4%
83	AON PLC SHS CL A AON	AON	4,390	$1.6m0.09%	0.09%	Added +9	+9 0.2%
84	VANGUARD INDEX FDS VALUE ETF VTV	VTV	8,092	$1.5m0.09%	0.09%	New
85	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	27,773	$1.5m0.09%	0.09%	Added +2	+2 0.0%
86	WELLS FARGO CO NEW COM WFC	WFC	17,633	$1.5m0.09%	0.09%	Added +224	+224 1.3%
87	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	9,900	$1.5m0.08%	0.08%	Added +1.2k	+1,171 13.4%
88	MP MATERIALS CORP COM CL A MP	MP	21,353	$1.4m0.08%	0.08%	Reduced -1.3k	-1,271 -5.6%
89	CISCO SYS INC COM CSCO	CSCO	20,075	$1.4m0.08%	0.08%	Reduced -275	-275 -1.4%
90	INTEL CORP COM INTC	INTC	40,283	$1.4m0.08%	0.08%	Added +52	+52 0.1%
91	BITWISE BITCOIN ETF TR SHS BEN INT BITB	BITB	21,500	$1.3m0.08%	0.08%	Unchanged
92	SNOWFLAKE INC CL A SNOW	SNOW	5,926	$1.3m0.08%	0.08%	Unchanged
93	ISHARES TR S&P 500 VAL ETF IVE	IVE	6,352	$1.3m0.08%	0.08%	Unchanged
94	CUMMINS INC COM CMI	CMI	3,077	$1.3m0.07%	0.07%	Added +17	+17 0.6%
95	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	14,794	$1.3m0.07%	0.07%	Added +2.4k	+2,373 19.1%
96	VANGUARD INDEX FDS SMALL CP ETF VB	VB	5,030	$1.3m0.07%	0.07%	Reduced -789	-789 -13.6%
97	ELI LILLY & CO COM LLY	LLY	1,640	$1.3m0.07%	0.07%	Added +37	+37 2.3%
98	DISNEY WALT CO COM DIS	DIS	10,904	$1.2m0.07%	0.07%	Added +45	+45 0.4%
99	SABLE OFFSHORE CORP COM SHS SOC	SOC	69,842	$1.2m0.07%	0.07%	Unchanged
100	BOEING CO COM BA	BA	5,650	$1.2m0.07%	0.07%	Reduced -768	-768 -12.0%

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
HAYWARD HLDGS INC HAYW	HAYW	4,591,730	$63.4m4.6m shares
VANGUARD INDEX FDS VNQ	VNQ	15,941	$1.4m15.9k shares
INTUIT INTU	INTU	511	$402.5k511 shares
CARMAX INC KMX	KMX	4,270	$287.0k4.3k shares
VANGUARD SCOTTSDALE FDS VGSH	VGSH	4,837	$284.3k4.8k shares
INVESCO EXCHANGE TRADED FD T PWB	PWB	1,775	$208.5k1.8k shares