HARBOR INVESTMENT ADVISORY, LLC

LUTHERVILLE, MD · CIK 1468792 · 13F filing filed 2026-07-07

SEC-registered investment adviser since 2010 · limited liability company

Assets managed$6.9bn
Staff35 · 30 in investment roles
Main clients (by assets)Charities 40%, High net worth individuals 39%, Pension plans 15%
Form ADV · 2026-09-01SEC adviser record

Legal entityHarbor Investment Advisory, LLC (US)

Kindinstitutions
Others nearbyLutherville Timonium, MD, Rockville, MD

As an employer

Offices in1 country

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Lutherville, MD (main office)United States	United States	about 29
Rockville, MDUnited States	United States	1

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$1.4bn reported value +12.8% vs Q1 2026

1,310positions

38.4%in top 10

157 new 263 added 225 reduced 74 sold out vs Q1 2026

Options: 1 call positions ($1.9m notional), 4 put positions ($1.6m notional) – listed below, not included above.

Holdings, Q2 2026

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	MARRIOTT INTL INC NEW CL A MAR	MAR	532,039	$197.2m13.78%	13.78%	Reduced -1.9k	-1,872 -0.3%
2	APPLE INC COM AAPL	AAPL	317,765	$91.9m6.43%	6.43%	Reduced -4.7k	-4,691 -1.4%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	169,993	$60.8m4.25%	4.25%	Reduced -1.4k	-1,354 -0.8%
4	AMAZON COM INC COM AMZN	AMZN	229,466	$54.7m3.82%	3.82%	Reduced -1.4k	-1,440 -0.6%
5	MICROSOFT CORP COM MSFT	MSFT	93,724	$35.0m2.44%	2.44%	Reduced -1.2k	-1,243 -1.3%
6	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	64,040	$32.0m2.24%	2.24%	Reduced -167	-167 -0.3%
7	ALPHABET INC CAP STK CL C GOOG	GOOG	64,099	$22.6m1.58%	1.58%	Reduced -390	-390 -0.6%
8	JPMORGAN CHASE & CO COM JPM	JPM	57,733	$18.9m1.32%	1.32%	Added +1.9k	+1,905 3.4%
9	ISHARES TR CORE S&P500 ETF IVV	IVV	24,813	$18.6m1.30%	1.30%	Added +112	+112 0.5%
10	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	47,452	$17.6m1.23%	1.23%	Added +1.5k	+1,528 3.3%
11	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	202,475	$17.4m1.22%	1.22%	Added +479	+479 0.2%
12	VANGUARD INDEX FDS VALUE ETF VTV	VTV	74,540	$16.2m1.14%	1.14%	Added +6.5k	+6,505 9.6%
13	NVIDIA CORPORATION COM NVDA	NVDA	80,399	$16.1m1.12%	1.12%	Added +3.4k	+3,397 4.4%
14	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	73,046	$15.5m1.09%	1.09%	Added +1.2k	+1,154 1.6%
15	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	21,966	$15.1m1.05%	1.05%	Added +448	+448 2.1%
16	WORLD GOLD TR SPDR GLD MINIS GLDM	GLDM	178,090	$14.1m0.99%	0.99%	Added +7.6k	+7,623 4.5%
17	VISA INC COM CL A V	V	40,154	$13.8m0.96%	0.96%	Added +97	+97 0.2%
18	MASTERCARD INCORPORATED CL A MA	MA	26,097	$13.4m0.94%	0.94%	Reduced -1.2k	-1,191 -4.4%
19	ISHARES TR RUS 2000 VAL ETF IWN	IWN	60,119	$13.3m0.93%	0.93%	Added +20	+20 0.0%
20	ELI LILLY & CO COM LLY	LLY	10,157	$12.2m0.85%	0.85%	Added +278	+278 2.8%
21	JOHNSON & JOHNSON COM JNJ	JNJ	41,765	$10.6m0.74%	0.74%	Added +962	+962 2.4%
22	SPDR GOLD TR GOLD SHS GLD	GLD	27,896	$10.3m0.72%	0.72%	Reduced -581	-581 -2.0%
23	VANGUARD INDEX FDS MCAP VL IDXVIP VOE	VOE	51,274	$10.1m0.71%	0.71%	Added +1.7k	+1,671 3.4%
24	BROADCOM INC COM AVGO	AVGO	26,459	$10.0m0.70%	0.70%	Added +64	+64 0.2%
25	SPDR SER TR BLOOMBERG 1-3 MO BIL	BIL	105,408	$9.7m0.68%	0.68%	Added +8.3k	+8,257 8.5%
26	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	12,914	$9.6m0.67%	0.67%	Added +75	+75 0.6%
27	VANGUARD INDEX FDS MCAP GR IDXVIP VOT	VOT	30,695	$9.4m0.66%	0.66%	Added +809	+809 2.7%
28	ISHARES TR CORE MSCI EAFE IEFA	IEFA	93,457	$9.0m0.63%	0.63%	Added +367	+367 0.4%
29	ISHARES TR RUS TP200 GR ETF IWY	IWY	29,392	$8.5m0.60%	0.60%	Added +1	+1 0.0%
30	AMGEN INC COM AMGN	AMGN	22,827	$8.3m0.58%	0.58%	Reduced -103	-103 -0.5%
31	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	84,289	$8.1m0.57%	0.57%	Added +805	+805 1.0%
32	ISHARES TR MSCI EAFE ETF EFA	EFA	76,734	$8.0m0.56%	0.56%	Reduced -1.2k	-1,198 -1.5%
33	META PLATFORMS INC CL A META	META	13,596	$7.7m0.54%	0.54%	Reduced -224	-224 -1.6%
34	ISHARES TR CORE DIV GRWTH DGRO	DGRO	99,517	$7.5m0.53%	0.53%	Added +4.4k	+4,387 4.6%
35	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	10,112	$7.4m0.52%	0.52%	Added +2.3k	+2,337 30.1%
36	ISHARES TR RUS 1000 GRW ETF IWF	IWF	58,453	$7.3m0.51%	0.51%	Added +609	+609 1.1%
37	JANUS DETROIT STR TR HENDRSON AAA CL JAAA	JAAA	143,662	$7.3m0.51%	0.51%	Added +6.6k	+6,643 4.8%
38	JANUS DETROIT STR TR HENDERSON SECURI JSI	JSI	141,273	$7.2m0.51%	0.51%	Added +21.5k	+21,524 18.0%
39	ISHARES TR RUS 2000 GRW ETF IWO	IWO	18,223	$7.2m0.50%	0.50%	Added +93	+93 0.5%
40	BANK AMERICA CORP COM BAC	BAC	121,497	$6.9m0.48%	0.48%	Added +511	+511 0.4%
41	BLACKROCK INC COM BLK	BLK	7,049	$6.8m0.47%	0.47%	Reduced -228	-228 -3.1%
42	ISHARES TR CORE S&P MCP ETF IJH	IJH	85,072	$6.6m0.46%	0.46%	Added +6.2k	+6,199 7.9%
43	COSTCO WHSL CORP NEW COM COST	COST	6,831	$6.4m0.45%	0.45%	Added +142	+142 2.1%
44	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	8,372	$6.4m0.45%	0.45%	Reduced -1.8k	-1,810 -17.8%
45	ISHARES TR RUS 1000 VAL ETF IWD	IWD	26,243	$6.4m0.44%	0.44%	Added +5.7k	+5,718 27.9%
46	WALMART INC COM WMT	WMT	55,836	$6.3m0.44%	0.44%	Added +306	+306 0.6%
47	DIMENSIONAL ETF TRUST INTL SMALL CAP E DFIS	DFIS	178,444	$6.3m0.44%	0.44%	Added +6.8k	+6,792 4.0%
48	UNITEDHEALTH GROUP INC COM UNH	UNH	14,748	$6.1m0.43%	0.43%	Reduced -1.0k	-1,015 -6.4%
49	GOLDMAN SACHS GROUP INC COM GS	GS	5,985	$6.1m0.42%	0.42%	Added +98	+98 1.7%
50	TIDAL ETF TR FOLIOBEYOND ALTE RISR	RISR	162,869	$5.9m0.41%	0.41%	Added +11.8k	+11,800 7.8%
51	ISHARES TR S&P 500 GRWT ETF IVW	IVW	42,722	$5.9m0.41%	0.41%	Added +404	+404 0.9%
52	VANECK ETF TRUST JUNIOR GOLD MINE GDXJ	GDXJ	59,530	$5.8m0.41%	0.41%	Added +98	+98 0.2%
53	ISHARES TR RUS 1000 ETF IWB	IWB	14,025	$5.7m0.40%	0.40%	Added +981	+981 7.5%
54	VANGUARD INDEX FDS SML CP GRW ETF VBK	VBK	15,563	$5.7m0.40%	0.40%	Added +907	+907 6.2%
55	EXXONMOBIL HOLDINGS CORP COM SHS STOCK XOM	XOM	39,631	$5.4m0.38%	0.38%	New
56	ISHARES TR CORE S&P SCP ETF IJR	IJR	36,192	$5.4m0.38%	0.38%	Added +1.3k	+1,277 3.7%
57	TESLA INC COM TSLA	TSLA	12,711	$5.3m0.37%	0.37%	Reduced -689	-689 -5.1%
58	ISHARES TR RUS MD CP GR ETF IWP	IWP	36,496	$5.3m0.37%	0.37%	Added +898	+898 2.5%
59	ISHARES TR RUS TP200 VL ETF IWX	IWX	50,412	$5.3m0.37%	0.37%	Added +76	+76 0.1%
60	ABBVIE INC COM ABBV	ABBV	19,981	$5.0m0.35%	0.35%	Reduced -69	-69 -0.3%
61	AMERICAN BEACON SELECT FUNDS GLG NAT RES ETF MGNR	MGNR	101,445	$4.9m0.34%	0.34%	Added +6.6k	+6,583 6.9%
62	ISHARES TR S&P 500 VAL ETF IVE	IVE	21,045	$4.8m0.33%	0.33%	Reduced -71	-71 -0.3%
63	STARBUCKS CORP COM SBUX	SBUX	46,518	$4.8m0.33%	0.33%	Added +2.4k	+2,438 5.5%
64	INTEL CORP COM INTC	INTC	33,217	$4.6m0.32%	0.32%	Added +328	+328 1.0%
65	ADVANCED MICRO DEVICES INC COM AMD	AMD	7,870	$4.6m0.32%	0.32%	Added +677	+677 9.4%
66	KLA CORP COM NEW KLAC	KLAC	14,770	$4.5m0.31%	0.31%	Added +920	+920 6.6%
67	MARKEL GROUP INC COM MKL	MKL	2,198	$4.3m0.30%	0.30%	Added +339	+339 18.2%
68	ISHARES TR RUS MDCP VAL ETF IWS	IWS	24,658	$4.1m0.28%	0.28%	Added +1.3k	+1,303 5.6%
69	CISCO SYS INC COM CSCO	CSCO	33,086	$3.9m0.27%	0.27%	Reduced -205	-205 -0.6%
70	T ROWE PRICE ETF INC CAP APPRECIATION TCAF	TCAF	94,408	$3.9m0.27%	0.27%	Added +10.5k	+10,480 12.5%
71	SANDISK CORP COM SNDK	SNDK	1,705	$3.9m0.27%	0.27%	Added +214	+214 14.3%
72	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	15,768	$3.7m0.26%	0.26%	Added +123	+123 0.8%
73	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	1,846	$3.7m0.26%	0.26%	Added +667	+667 56.6%
74	PROCTER AND GAMBLE CO COM PG	PG	24,265	$3.6m0.25%	0.25%	Reduced -2.5k	-2,499 -9.3%
75	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	22,499	$3.6m0.25%	0.25%	Added +75	+75 0.3%
76	ISHARES INC CORE MSCI EMKT IEMG	IEMG	42,358	$3.5m0.25%	0.25%	Added +23.2k	+23,166 120.7%
77	J P MORGAN EXCHANGE TRADED F HEDGED EQUITY LA HELO	HELO	49,442	$3.3m0.23%	0.23%	Reduced -490	-490 -1.0%
78	HOME DEPOT INC COM HD	HD	9,396	$3.3m0.23%	0.23%	Reduced -2.7k	-2,698 -22.3%
79	AGNICO EAGLE MINES LTD COM AEM	AEM	21,232	$3.3m0.23%	0.23%	Added +2.0k	+2,009 10.4%
80	GE VERNOVA INC COM GEV	GEV	2,794	$3.3m0.23%	0.23%	Reduced -3.2k	-3,209 -53.5%
81	VERTIV HOLDINGS CO COM CL A VRT	VRT	9,718	$3.3m0.23%	0.23%	Added +815	+815 9.2%
82	UNITED RENTALS INC COM URI	URI	2,840	$3.2m0.22%	0.22%	Added +91	+91 3.3%
83	CAPITAL GROUP DIVIDEND VALUE SHS CREATION UNI CGDV	CGDV	63,591	$3.1m0.22%	0.22%	Added +6.4k	+6,406 11.2%
84	ISHARES TR IBONDS 27 ETF IBDS	IBDS	129,122	$3.1m0.22%	0.22%	Added +7.3k	+7,294 6.0%
85	ISHARES TR 1 3 YR TREAS BD SHY	SHY	37,894	$3.1m0.22%	0.22%	Reduced -709	-709 -1.8%
86	ISHARES TR IBDS DEC28 ETF IBDT	IBDT	122,422	$3.1m0.22%	0.22%	Added +7.8k	+7,789 6.8%
87	CAMECO CORP COM CCJ	CCJ	29,963	$3.1m0.21%	0.21%	Added +983	+983 3.4%
88	CHEVRON CORP NEW COM CVX	CVX	18,366	$3.0m0.21%	0.21%	Added +718	+718 4.1%
89	VANGUARD INDEX FDS SM CP VAL ETF VBR	VBR	12,158	$3.0m0.21%	0.21%	Added +1.9k	+1,944 19.0%
90	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	15,209	$2.9m0.20%	0.20%	Added +4.9k	+4,924 47.9%
91	TEXAS ROADHOUSE INC COM TXRH	TXRH	14,563	$2.8m0.20%	0.20%	Added +349	+349 2.5%
92	RTX CORPORATION COM RTX	RTX	14,811	$2.8m0.20%	0.20%	Reduced -16	-16 -0.1%
93	TJX COS INC NEW COM TJX	TJX	18,539	$2.8m0.20%	0.20%	Reduced -87	-87 -0.5%
94	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	5,653	$2.7m0.19%	0.19%	Added +996	+996 21.4%
95	J P MORGAN EXCHANGE TRADED F EQUITY PREMIUM JEPI	JEPI	46,866	$2.6m0.19%	0.19%	Added +335	+335 0.7%
96	ABBOTT LABS COM ABT	ABT	28,617	$2.6m0.18%	0.18%	Added +2.9k	+2,862 11.1%
97	SPDR SER TR S&P BIOTECH XBI	XBI	16,333	$2.6m0.18%	0.18%	Reduced -615	-615 -3.6%
98	EATON CORP PLC SHS ETN	ETN	6,065	$2.6m0.18%	0.18%	Added +1.2k	+1,247 25.9%
99	ISHARES TR COHEN STEER REIT ICF	ICF	37,495	$2.5m0.18%	0.18%	Reduced -1.3k	-1,256 -3.2%
100	ISHARES TR IBONDS DEC2026 IBDR	IBDR	104,654	$2.5m0.18%	0.18%	Added +2.9k	+2,852 2.8%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
EXXON MOBIL CORP XOM	XOM	39,345	$6.7m39.3k shares
HONEYWELL INTL INC		7,509	$3.4m7.5k shares
DUPONT DE NEMOURS INC DWDP	DWDP	607	$83.4k607 shares
REPUBLIC SVCS INC RSG	RSG	300	$65.7k300 shares
ETF OPPORTUNITIES TRUST 2649699D	2649699D	1,680	$60.8k1.7k shares
ON HLDG AG ONON	ONON	1,600	$54.4k1.6k shares
HYCROFT MINING HOLDING CORP HYMC	HYMC	1,400	$49.3k1.4k shares
BLACKSTONE SECD LENDING FD BXSL	BXSL	1,984	$47.0k2.0k shares
PAN AMERN SILVER CORP PAAS	PAAS	800	$43.7k800 shares
PROFESIONALLY MANAGED PORTFO WAGN	WAGN	2,485	$35.1k2.5k shares
LISTED FDS TR MAGS	MAGS	580	$33.6k580 shares
FIRST MAJESTIC SILVER CORP AG	AG	1,500	$32.2k1.5k shares
MASIMO CORP MASI	MASI	100	$17.8k100 shares
SEALED AIR CORP NEW		418	$17.6k418 shares
ENERSYS ENS	ENS	95	$16.5k95 shares
DARLING INGREDIENTS INC DAR	DAR	250	$15.5k250 shares
FORMFACTOR INC FORM	FORM	153	$14.8k153 shares
NOV INC NOV	NOV	702	$13.2k702 shares
SANMINA CORPORATION SANM	SANM	100	$13.0k100 shares
ARCHROCK INC AROC	AROC	369	$12.8k369 shares
CIRRUS LOGIC INC CRUS	CRUS	87	$12.6k87 shares
ALPS ETF TR SMTH	SMTH	466	$12.0k466 shares
LITTELFUSE INC LFUS	LFUS	35	$11.9k35 shares
DIGI INTL INC DGII	DGII	245	$11.8k245 shares
FB FINL CORP FBK	FBK	211	$11.0k211 shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Call	SPY	Call	2,500	$1.9m2.5k shares	Added
ISHARES BITCOIN TRUST ETF IBIT · Put	IBIT	Put	35,200	$1.2m35.2k shares	Unchanged
APPLE INC AAPL · Put	AAPL	Put	800	$231.5k800 shares	Unchanged
INVESCO QQQ TR QQQ · Put	QQQ	Put	200	$147.3k200 shares	Unchanged
NVIDIA CORPORATION NVDA · Put	NVDA	Put	300	$60.0k300 shares	Unchanged