Winthrop Capital Management, LLC

Carmel, IN · CIK 2010657 · 13F filing filed 2024-08-09

SEC-registered investment adviser since 2010 · limited liability company

Assets managed$4.0bn
Staff29 · 9 in investment roles
Main clients (by assets)Insurers 79%, Individuals 5%, Private funds 5%
Private funds1 · $185.4m gross assets
Websitewinthropis.com
Form ADV · 2026-03-27SEC adviser record

Legal entityWinthrop Capital Management, LLC (US)

$199.9m reported value -7.9% vs Q1 2024

159positions

58.8%in top 10

14 new 43 added 33 reduced 18 sold out vs Q1 2024

Holdings, Q2 2024

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	VANGUARD WORLD FD INF TECH ETF VGT	VGT	41,713	$24.1m12.03%	12.03%	Added +852	+852 2.1%
2	SPDR SER TR PORTFOLIO SHORT SPSB	SPSB	655,716	$19.5m9.74%	9.74%	Added +3.3k	+3,287 0.5%
3	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	64,687	$10.6m5.32%	5.32%	Added +1.7k	+1,729 2.8%
4	VANGUARD WORLD FD FINANCIALS ETF VFH	VFH	100,032	$10.0m5.00%	5.00%	Added +989	+989 1.0%
5	ISHARES TR CORE MSCI EAFE IEFA	IEFA	137,498	$10.0m5.00%	5.00%	Added +1.0k	+1,040 0.8%
6	ISHARES TR MSCI USA MIN VOL USMV	USMV	118,057	$9.9m4.96%	4.96%	Added +566	+566 0.5%
7	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	17,134	$9.3m4.66%	4.66%	Reduced -391	-391 -2.2%
8	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	106,147	$8.5m4.24%	4.24%	Added +2.8k	+2,839 2.8%
9	SELECT SECTOR SPDR TR COMMUNICATION XLC	XLC	94,404	$8.1m4.05%	4.05%	Added +6.0k	+5,975 6.8%
10	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	52,743	$7.7m3.85%	3.85%	Reduced -2.3k	-2,252 -4.1%
11	SPDR SERIES TRUST PORTFLI HIGH YLD SPHY	SPHY	278,036	$6.5m3.23%	3.23%	Added +2.6k	+2,611 0.9%
12	SELECT SECTOR SPDR TR SBI CONS DISCR XLY	XLY	28,814	$5.3m2.63%	2.63%	Added +605	+605 2.1%
13	NVIDIA CORPORATION COM NVDA	NVDA	39,607	$4.9m2.45%	2.45%	New
14	SELECT SECTOR SPDR TR INDL XLI	XLI	39,619	$4.8m2.42%	2.42%	Reduced -774	-774 -1.9%
15	SELECT SECTOR SPDR TR SBI CONS STPLS XLP	XLP	60,631	$4.6m2.32%	2.32%	Reduced -8.4k	-8,447 -12.2%
16	NEXTERA ENERGY INC COM NEE	NEE	63,336	$4.5m2.24%	2.24%	Added +154	+154 0.2%
17	APPLE INC COM AAPL	AAPL	21,065	$4.4m2.22%	2.22%	Added +139	+139 0.7%
18	ISHARES INC CORE MSCI EMKT IEMG	IEMG	73,183	$3.9m1.96%	1.96%	Reduced -2.0k	-2,030 -2.7%
19	SELECT SECTOR SPDR TR ENERGY XLE	XLE	39,326	$3.6m1.79%	1.79%	Added +4.2k	+4,194 11.9%
20	ALPHABET INC CAP STK CL A GOOGL	GOOGL	18,767	$3.4m1.71%	1.71%	Reduced -240	-240 -1.3%
21	AMAZON COM INC COM AMZN	AMZN	13,033	$2.5m1.26%	1.26%	Added +108	+108 0.8%
22	JPMORGAN CHASE & CO COM JPM	JPM	12,441	$2.5m1.26%	1.26%	Reduced -625	-625 -4.8%
23	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	34,587	$2.4m1.18%	1.18%	Reduced -2.4k	-2,380 -6.4%
24	MERCK & CO INC COM MRK	MRK	13,243	$1.6m0.82%	0.82%	Added +218	+218 1.7%
25	ORACLE CORP COM ORCL	ORCL	10,191	$1.4m0.72%	0.72%	Added +100	+100 1.0%
26	SELECT SECTOR SPDR TR SBI MATERIALS XLB	XLB	16,088	$1.4m0.71%	0.71%	Reduced -4.8k	-4,766 -22.9%
27	EXXON MOBIL CORP COM XOM	XOM	12,126	$1.4m0.70%	0.70%	Added +53	+53 0.4%
28	JOHNSON & JOHNSON COM JNJ	JNJ	9,331	$1.4m0.68%	0.68%	Added +5	+5 0.1%
29	COSTCO WHSL CORP NEW COM COST	COST	1,540	$1.3m0.65%	0.65%	Added +10	+10 0.7%
30	VISA INC COM CL A V	V	4,941	$1.3m0.65%	0.65%	Added +36	+36 0.7%
31	INVESCO EXCH TRADED FD TR II S&P500 LOW VOL SPLV	SPLV	18,228	$1.2m0.59%	0.59%	Reduced -524	-524 -2.8%
32	ISHARES INC MSCI EMRG CHN EMXC	EMXC	19,481	$1.2m0.58%	0.58%	Reduced -871	-871 -4.3%
33	INVESCO EXCHANGE TRADED FD T S&P 100 EQL WIGH EQWL	EQWL	11,943	$1.1m0.56%	0.56%	Added +5	+5 0.0%
34	WELLS FARGO CO NEW COM WFC	WFC	17,496	$1.0m0.52%	0.52%	New
35	SELECT SECTOR SPDR TR RL EST SEL SEC XLRE	XLRE	26,731	$1.0m0.51%	0.51%	Added +1.0k	+1,006 3.9%
36	DUKE ENERGY CORP NEW COM NEW DUK	DUK	8,792	$881.0k0.44%	0.44%	Added +148	+148 1.7%
37	SPDR SERIES TRUST S&P 600 SMCP GRW SLYG	SLYG	9,575	$822.0k0.41%	0.41%	Added +379	+379 4.1%
38	SPDR INDEX SHS FDS S&P CHINA ETF GXC	GXC	10,151	$695.0k0.35%	0.35%	Reduced -6.6k	-6,598 -39.4%
39	CONOCOPHILLIPS COM COP	COP	5,978	$684.0k0.34%	0.34%	Added +69	+69 1.2%
40	COMCAST CORP NEW CL A CMCSA	CMCSA	16,376	$641.0k0.32%	0.32%	Reduced -887	-887 -5.1%
41	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	7,824	$605.0k0.30%	0.30%	Reduced -89	-89 -1.1%
42	SPDR SER TR S&P 600 SMCP VAL SLYV	SLYV	7,307	$572.0k0.29%	0.29%	Added +324	+324 4.6%
43	MEDTRONIC PLC SHS MDT	MDT	6,295	$495.0k0.25%	0.25%	Reduced -1.4k	-1,439 -18.6%
44	NIKE INC CL B NKE	NKE	6,321	$476.0k0.24%	0.24%	New
45	ABRDN ETFS BBRG ALL COMD K1 BCI	BCI	22,654	$461.0k0.23%	0.23%	Reduced -2.8k	-2,830 -11.1%
46	ABBVIE INC COM ABBV	ABBV	2,627	$451.0k0.23%	0.23%	Added +59	+59 2.3%
47	S&P GLOBAL INC COM SPGI	SPGI	967	$431.0k0.22%	0.22%	Added +12	+12 1.3%
48	ABRDN PRECIOUS METALS BASKET PHYSCL PRECS MET GLTR	GLTR	4,090	$421.0k0.21%	0.21%	Unchanged
49	ALPHABET INC CAP STK CL C GOOG	GOOG	2,232	$409.0k0.20%	0.20%	Reduced -1.0k	-1,000 -30.9%
50	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	1,506	$341.0k0.17%	0.17%	Added +99	+99 7.0%
51	AMGEN INC COM AMGN	AMGN	1,000	$312.0k0.16%	0.16%	New
52	ADOBE INC COM ADBE	ADBE	458	$254.0k0.13%	0.13%	Reduced -53	-53 -10.4%
53	YUM CHINA HLDGS INC COM YUMC	YUMC	7,926	$244.0k0.12%	0.12%	Unchanged
54	BECTON DICKINSON & CO COM BDX	BDX	1,027	$240.0k0.12%	0.12%	Reduced -81	-81 -7.3%
55	APPLIED MATLS INC COM AMAT	AMAT	986	$233.0k0.12%	0.12%	Added +35	+35 3.7%
56	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	562	$229.0k0.11%	0.11%	Added +12	+12 2.2%
57	VANGUARD WORLD FD INDUSTRIAL ETF VIS	VIS	962	$226.0k0.11%	0.11%	Reduced -191	-191 -16.6%
58	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	924	$221.0k0.11%	0.11%	Added +51	+51 5.8%
59	ABBOTT LABS COM ABT	ABT	1,965	$204.0k0.10%	0.10%	New
60	META PLATFORMS INC CL A META	META	405	$204.0k0.10%	0.10%	Added +98	+98 31.9%
61	PAYPAL HLDGS INC COM PYPL	PYPL	3,126	$181.0k0.09%	0.09%	Reduced -286	-286 -8.4%
62	VANGUARD WORLD FD CONSUM STP ETF VDC	VDC	838	$170.0k0.09%	0.09%	Reduced -56	-56 -6.3%
63	EQUINIX INC COM EQIX	EQIX	201	$152.0k0.08%	0.08%	Added +5	+5 2.5%
64	SPDR SERIES TRUST PORTFOLIO S&P500 SPYM	SPYM	2,172	$139.0k0.07%	0.07%	Reduced -196	-196 -8.3%
65	VANGUARD SCOTTSDALE FDS TOTAL CORP BND VTC	VTC	1,768	$134.0k0.07%	0.07%	Reduced -31	-31 -1.7%
66	GLOBAL X FDS US PFD ETF PFFD	PFFD	6,107	$120.0k0.06%	0.06%	Reduced -430	-430 -6.6%
67	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	2,405	$99.0k0.05%	0.05%	Added +570	+570 31.1%
68	VERIZON COMMUNICATIONS INC COM VZ	VZ	2,314	$95.0k0.05%	0.05%	Added +5	+5 0.2%
69	VANGUARD SCOTTSDALE FDS MTG-BKD SECS ETF VMBS	VMBS	2,064	$94.0k0.05%	0.05%	Unchanged
70	AT&T INC COM T	T	4,673	$89.0k0.04%	0.04%	Added +75	+75 1.6%
71	BANK MONTREAL QUE COM BMO	BMO	1,058	$89.0k0.04%	0.04%	Added +51	+51 5.1%
72	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	1,203	$87.0k0.04%	0.04%	Reduced -1	-1 -0.1%
73	ISHARES TR ESG AWR MSCI USA ESGU	ESGU	730	$87.0k0.04%	0.04%	Unchanged
74	SPDR SER TR PORTFOLIO INTRMD SPIB	SPIB	2,663	$87.0k0.04%	0.04%	Unchanged
75	AIR PRODS & CHEMS INC COM APD	APD	302	$78.0k0.04%	0.04%	Added +15	+15 5.2%
76	VANECK ETF TRUST INTRMDT MUNI ETF ITM	ITM	1,663	$76.0k0.04%	0.04%	Reduced -1.7k	-1,711 -50.7%
77	INVESCO EXCHANGE TRADED FD T S&P 500 TOP 50 XLG	XLG	1,200	$55.0k0.03%	0.03%	Unchanged
78	MASTERCARD INCORPORATED CL A MA	MA	123	$54.0k0.03%	0.03%	Unchanged
79	AMERICAN EXPRESS CO COM AXP	AXP	230	$53.0k0.03%	0.03%	Unchanged
80	SPDR SER TR BLOOMBERG 1-3 MO BIL	BIL	559	$51.0k0.03%	0.03%	Unchanged
81	KINDER MORGAN INC DEL COM KMI	KMI	2,397	$48.0k0.02%	0.02%	Added +136	+136 6.0%
82	AMERICAN ELEC PWR CO INC COM AEP	AEP	520	$46.0k0.02%	0.02%	Unchanged
83	ECOLAB INC COM ECL	ECL	168	$40.0k0.02%	0.02%	New
84	TRUIST FINL CORP COM TFC	TFC	1,019	$40.0k0.02%	0.02%	Reduced -7.4k	-7,417 -87.9%
85	INVESCO EXCH TRADED FD TR II NATL AMT MUNI PZA	PZA	1,626	$39.0k0.02%	0.02%	Reduced -6.1k	-6,086 -78.9%
86	SPDR GOLD TR GOLD SHS GLD	GLD	170	$37.0k0.02%	0.02%	Unchanged
87	ALLSTATE CORP COM ALL	ALL	926	$34.0k0.02%	0.02%	Added +858	+858 1261.8%
88	ARK ETF TR INNOVATION ETF ARKK	ARKK	762	$33.0k0.02%	0.02%	Unchanged
89	NORTHWEST NAT HLDG CO COM NWN	NWN	900	$33.0k0.02%	0.02%	Unchanged
90	ROYAL CARIBBEAN GROUP COM RCL	RCL	210	$33.0k0.02%	0.02%	Unchanged
91	CORNING INC COM GLW	GLW	768	$30.0k0.02%	0.02%	New
92	COSTAR GROUP INC COM CSGP	CSGP	351	$26.0k0.01%	0.01%	Unchanged
93	ISHARES TR ESG AW MSCI EAFE ESGD	ESGD	323	$25.0k0.01%	0.01%	Unchanged
94	TESLA INC COM TSLA	TSLA	122	$24.0k0.01%	0.01%	Unchanged
95	SPDR SER TR RUSSELL YIELD ONEY	ONEY	224	$23.0k0.01%	0.01%	Unchanged
96	FORTINET INC COM FTNT	FTNT	369	$22.0k0.01%	0.01%	Unchanged
97	ISHARES INC ESG AWR MSCI EM ESGE	ESGE	624	$21.0k0.01%	0.01%	Unchanged
98	ZIMMER BIOMET HOLDINGS INC COM ZBH	ZBH	180	$20.0k0.01%	0.01%	Unchanged
99	SPDR SER TR OILGAS EQUIP XES	XES	200	$18.0k0.01%	0.01%	Unchanged
100	VERONA PHARMA PLC SPONSORED ADS VRNA	VRNA	1,235	$18.0k0.01%	0.01%	Unchanged

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
ELI LILLY & CO LLY	LLY	17,582	$13.7m17.6k shares
VANGUARD INDEX FDS VTV	VTV	28,923	$4.7m28.9k shares
VANGUARD INDEX FDS VUG	VUG	13,229	$4.6m13.2k shares
VANGUARD INDEX FDS VTI	VTI	5,069	$1.3m5.1k shares
YUM BRANDS INC YUM	YUM	8,028	$1.1m8.0k shares
VANGUARD INDEX FDS VB	VB	3,508	$802.0k3.5k shares
AERCAP HOLDINGS NV AER	AER	3,983	$346.0k4.0k shares
ISHARES GOLD TR IAU	IAU	3,400	$143.0k3.4k shares
ISHARES TR MCHI	MCHI	1,578	$63.0k1.6k shares
SAMSARA INC IOT	IOT	744	$28.0k744 shares
SPDR SER TR JNK	JNK	85	$8.0k85 shares
SENTINELONE INC S	S	125	$3.0k125 shares
DOW INC DOW	DOW	42	$2.0k42 shares
LULULEMON ATHLETICA INC LULU	LULU	4	$2.0k4 shares
QUANTUMSCAPE CORP QS	QS	200	$1.0k200 shares
TEXAS PACIFIC LAND CORPORATI TPL	TPL	2	$1.0k2 shares
HERSHEY CO HSY	HSY	7	$1.0k7 shares
CENCORA INC COR	COR	3	$1.0k3 shares