Winthrop Capital Management, LLC

Carmel, IN · CIK 2010657 · 13F filing filed 2026-08-13

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)

$414.1m reported value +6.3% vs Q1 2026

351positions

42.2%in top 10

50 new 96 added 55 reduced 55 sold out vs Q1 2026

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	VANGUARD WORLD FD INF TECH ETF VGT	VGT	365,715	$43.7m10.56%	10.56%	Reduced -2.1k	-2,069 -0.6%
2	ELI LILLY & CO COM LLY	LLY	17,908	$21.5m5.19%	5.19%	Added +16	+16 0.1%
3	SPDR SER TR PORTFOLIO SHORT SPSB	SPSB	671,560	$20.2m4.87%	4.87%	Reduced -5.4k	-5,403 -0.8%
4	SCHWAB STRATEGIC TR US LRG CAP ETF SCHX	SCHX	657,605	$19.4m4.67%	4.67%	Reduced -856	-856 -0.1%
5	VANGUARD WORLD FD FINANCIALS ETF VFH	VFH	104,157	$13.7m3.31%	3.31%	Added +1.0k	+1,001 1.0%
6	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	421,081	$13.4m3.22%	3.22%	Reduced -12.5k	-12,495 -2.9%
7	ISHARES TR CORE MSCI EAFE IEFA	IEFA	128,488	$12.4m3.00%	3.00%	Added +132	+132 0.1%
8	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	48,623	$10.3m2.50%	2.50%	Reduced -6.2k	-6,244 -11.4%
9	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	65,145	$10.3m2.50%	2.50%	Added +1.2k	+1,185 1.9%
10	SELECT SECTOR SPDR TR COMMUNICATION XLC	XLC	94,229	$10.1m2.44%	2.44%	Added +1.1k	+1,116 1.2%
11	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	116,385	$9.6m2.32%	2.32%	Reduced -82	-82 -0.1%
12	ISHARES TR MSCI USA MIN VOL USMV	USMV	97,379	$9.4m2.27%	2.27%	Reduced -4.4k	-4,426 -4.3%
13	SELECT SECTOR SPDR TR SBI CONS DISCR XLY	XLY	79,515	$9.3m2.25%	2.25%	Added +920	+920 1.2%
14	ISHARES TR IBOXX INV CP ETF LQD	LQD	85,046	$9.3m2.24%	2.24%	Added +480	+480 0.6%
15	SCHWAB STRATEGIC TR INTL EQTY ETF SCHF	SCHF	331,932	$9.2m2.22%	2.22%	Reduced -31.3k	-31,261 -8.6%
16	NVIDIA CORPORATION COM NVDA	NVDA	39,646	$7.9m1.92%	1.92%	Reduced -1.2k	-1,163 -2.9%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	21,268	$7.6m1.84%	1.84%	Reduced -145	-145 -0.7%
18	SELECT SECTOR SPDR TR INDL XLI	XLI	39,995	$7.4m1.79%	1.79%	Added +468	+468 1.2%
19	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	83,029	$7.2m1.73%	1.73%	Reduced -2.3k	-2,267 -2.7%
20	VANGUARD INDEX FDS VALUE ETF VTV	VTV	30,487	$6.6m1.60%	1.60%	Reduced -382	-382 -1.2%
21	ISHARES INC CORE MSCI EMKT IEMG	IEMG	74,280	$6.2m1.49%	1.49%	Reduced -5.8k	-5,764 -7.2%
22	ISHARES TR MBS ETF MBB	MBB	64,433	$6.1m1.47%	1.47%	Reduced -24	-24 -0.0%
23	NEXTERA ENERGY INC COM NEE	NEE	64,052	$5.6m1.36%	1.36%	Reduced -79	-79 -0.1%
24	SPDR SERIES TRUST PORTFLI HIGH YLD SPHY	SPHY	228,145	$5.3m1.29%	1.29%	Added +3.1k	+3,123 1.4%
25	SCHWAB STRATEGIC TR US LCAP GR ETF SCHG	SCHG	150,856	$5.1m1.23%	1.23%	Reduced -3.7k	-3,735 -2.4%
26	MICROSOFT CORP COM MSFT	MSFT	13,588	$5.1m1.22%	1.22%	Reduced -79	-79 -0.6%
27	SELECT SECTOR SPDR TR SBI CONS STPLS XLP	XLP	54,871	$4.6m1.10%	1.10%	Added +1.3k	+1,277 2.4%
28	ISHARES TR CORE S&P500 ETF IVV	IVV	6,029	$4.5m1.09%	1.09%	Reduced -2.1k	-2,125 -26.1%
29	SELECT SECTOR SPDR TR ENERGY XLE	XLE	82,707	$4.4m1.06%	1.06%	Added +1.7k	+1,683 2.1%
30	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	40,725	$4.1m0.99%	0.99%	Reduced -3.4k	-3,360 -7.6%
31	JPMORGAN CHASE & CO COM JPM	JPM	12,427	$4.1m0.98%	0.98%	Reduced -1	-1 -0.0%
32	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	70,853	$3.2m0.78%	0.78%	Added +748	+748 1.1%
33	SCHWAB STRATEGIC TR US SML CAP ETF SCHA	SCHA	86,396	$3.1m0.75%	0.75%	Added +283	+283 0.3%
34	PEPSICO INC COM PEP	PEP	21,575	$2.9m0.71%	0.71%	Reduced -2	-2 -0.0%
35	ISHARES TR US AER DEF ETF ITA	ITA	11,076	$2.7m0.65%	0.65%	Added +117	+117 1.1%
36	ISHARES TR PFD AND INCM SEC PFF	PFF	86,643	$2.6m0.64%	0.64%	Reduced -654	-654 -0.8%
37	CUMMINS INC COM CMI	CMI	3,407	$2.4m0.59%	0.59%	Unchanged
38	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	3,108	$2.3m0.56%	0.56%	Added +869	+869 38.8%
39	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	4,667	$2.2m0.54%	0.54%	Added +13	+13 0.3%
40	CITIGROUP INC COM NEW C	C	15,772	$2.2m0.53%	0.53%	Added +58	+58 0.4%
41	SCHWAB STRATEGIC TR EMRG MKTEQ ETF SCHE	SCHE	59,274	$2.1m0.52%	0.52%	Added +355	+355 0.6%
42	VANGUARD INDEX FDS SML CP GRW ETF VBK	VBK	5,836	$2.1m0.52%	0.52%	Reduced -151	-151 -2.5%
43	BITWISE BITCOIN ETF TR SHS BEN INT BITB	BITB	65,364	$2.1m0.50%	0.50%	Reduced -2.7k	-2,703 -4.0%
44	SELECT SECTOR SPDR TR SBI MATERIALS XLB	XLB	40,009	$2.0m0.49%	0.49%	Added +1.1k	+1,078 2.8%
45	JOHNSON & JOHNSON COM JNJ	JNJ	7,610	$1.9m0.47%	0.47%	Added +20	+20 0.3%
46	SCHWAB STRATEGIC TR US MID-CAP ETF SCHM	SCHM	50,385	$1.9m0.45%	0.45%	Added +174	+174 0.3%
47	SELECT SECTOR SPDR TR RL EST SEL SEC XLRE	XLRE	42,040	$1.9m0.45%	0.45%	Added +978	+978 2.4%
48	VISA INC COM CL A V	V	5,040	$1.7m0.42%	0.42%	Added +11	+11 0.2%
49	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	4,520	$1.7m0.40%	0.40%	Unchanged
50	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	5,811	$1.6m0.39%	0.39%	Reduced -33	-33 -0.6%
51	EXXON MOBIL CORP COM XOM	XOM	11,829	$1.6m0.39%	0.39%	Reduced -229	-229 -1.9%
52	JOHNSON CTLS INTL PLC SHS JCI	JCI	10,848	$1.6m0.38%	0.38%	Added +36	+36 0.3%
53	MERCK & CO INC COM MRK	MRK	12,254	$1.6m0.38%	0.38%	Added +45	+45 0.4%
54	ORACLE CORP COM ORCL	ORCL	10,605	$1.6m0.38%	0.38%	Added +22	+22 0.2%
55	WALMART INC COM WMT	WMT	13,619	$1.5m0.37%	0.37%	Added +17	+17 0.1%
56	SPDR GOLD TR GOLD SHS GLD	GLD	3,930	$1.4m0.35%	0.35%	Reduced -136	-136 -3.3%
57	ISHARES TR S&P 500 GRWT ETF IVW	IVW	9,581	$1.3m0.32%	0.32%	Reduced -2.4k	-2,363 -19.8%
58	DUKE ENERGY CORP NEW COM NEW DUK	DUK	10,378	$1.3m0.32%	0.32%	Added +58	+58 0.6%
59	ISHARES TR CORE US AGGBD ET AGG	AGG	13,042	$1.3m0.31%	0.31%	Reduced -634	-634 -4.6%
60	YUM BRANDS INC COM YUM	YUM	7,383	$1.2m0.28%	0.28%	Reduced -8	-8 -0.1%
61	COSTCO WHSL CORP NEW COM COST	COST	1,254	$1.2m0.28%	0.28%	Added +2	+2 0.2%
62	ISHARES INC MSCI EMRG CHN EMXC	EMXC	11,030	$1.1m0.27%	0.27%	Added +20	+20 0.2%
63	US BANCORP DEL COM NEW USB	USB	18,604	$1.1m0.27%	0.27%	Added +56	+56 0.3%
64	UNITEDHEALTH GROUP INC COM UNH	UNH	2,687	$1.1m0.27%	0.27%	Added +7	+7 0.3%
65	ABBVIE INC COM ABBV	ABBV	4,316	$1.1m0.26%	0.26%	Added +13	+13 0.3%
66	VANGUARD INDEX FDS SMALL CP ETF VB	VB	3,513	$1.1m0.26%	0.26%	Added +65	+65 1.9%
67	ISHARES TR CORE S&P SCP ETF IJR	IJR	7,150	$1.1m0.26%	0.26%	Unchanged
68	ISHARES TR CORE S&P MCP ETF IJH	IJH	12,956	$999.0k0.24%	0.24%	Added +1	+1 0.0%
69	PROCTER AND GAMBLE CO COM PG	PG	6,707	$984.0k0.24%	0.24%	Added +50	+50 0.8%
70	TEXAS INSTRS INC COM TXN	TXN	3,250	$969.0k0.23%	0.23%	Added +8	+8 0.2%
71	NETFLIX INC COM NFLX	NFLX	13,447	$960.0k0.23%	0.23%	Added +13.4k	+13,427 67135.0%
72	CHEVRON CORP NEW COM CVX	CVX	5,707	$946.0k0.23%	0.23%	Added +34	+34 0.6%
73	SPDR SERIES TRUST S&P 600 SMCP GRW SLYG	SLYG	7,933	$945.0k0.23%	0.23%	Added +394	+394 5.2%
74	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	1,848	$927.0k0.22%	0.22%	Added +3	+3 0.2%
75	ALPHABET INC CAP STK CL C GOOG	GOOG	2,541	$898.0k0.22%	0.22%	Added +115	+115 4.7%
76	META PLATFORMS INC CL A META	META	1,398	$788.0k0.19%	0.19%	Added +43	+43 3.2%
77	SUNCOR ENERGY INC NEW COM SU	SU	13,668	$734.0k0.18%	0.18%	Added +4	+4 0.0%
78	INVESCO EXCHANGE TRADED FD T S&P 100 EQL WIGH EQWL	EQWL	5,382	$694.0k0.17%	0.17%	Reduced -35	-35 -0.7%
79	LOWES COS INC COM LOW	LOW	3,094	$682.0k0.16%	0.16%	Added +23	+23 0.8%
80	ISHARES TR RUSSELL 2000 ETF IWM	IWM	2,234	$671.0k0.16%	0.16%	Reduced -254	-254 -10.2%
81	VANGUARD INDEX FDS MID CAP ETF VO	VO	8,252	$665.0k0.16%	0.16%	Reduced -500	-500 -5.7%
82	PNC FINL SVCS GROUP INC COM PNC	PNC	2,684	$661.0k0.16%	0.16%	Added +9	+9 0.3%
83	HONEYWELL INTL INC COM COM		2,937	$658.0k0.16%	0.16%	Added +98	+98 3.5%
84	AERCAP HOLDINGS NV SHS AER	AER	4,444	$648.0k0.16%	0.16%	Added +20	+20 0.5%
85	CONOCOPHILLIPS COM COP	COP	6,210	$646.0k0.16%	0.16%	Added +28	+28 0.5%
86	PROLOGIS INC. COM PLD	PLD	4,691	$635.0k0.15%	0.15%	Added +16	+16 0.3%
87	HONEYWELL AEROSPACE INC COM HONA	HONA	2,838	$627.0k0.15%	0.15%	New
88	WELLS FARGO CO NEW COM WFC	WFC	7,540	$623.0k0.15%	0.15%	Unchanged
89	ISHARES TR 7-10 YR TRSY BD IEF	IEF	6,323	$598.0k0.14%	0.14%	Unchanged
90	MCDONALDS CORP COM MCD	MCD	2,199	$594.0k0.14%	0.14%	Added +7	+7 0.3%
91	VISTRA CORP COM VST	VST	3,714	$589.0k0.14%	0.14%	New
92	GLOBAL X FDS DATA CTR DIG ETF DTCR	DTCR	17,643	$536.0k0.13%	0.13%	Added +3.6k	+3,591 25.6%
93	HOME DEPOT INC COM HD	HD	1,380	$487.0k0.12%	0.12%	Reduced -1.3k	-1,341 -49.3%
94	VANGUARD INDEX FDS SM CP VAL ETF VBR	VBR	1,910	$464.0k0.11%	0.11%	Added +1	+1 0.1%
95	SCHLUMBERGER LTD COM STK SLB	SLB	9,613	$447.0k0.11%	0.11%	Added +58	+58 0.6%
96	SCHWAB STRATEGIC TR US BRD MKT ETF SCHB	SCHB	14,963	$433.0k0.10%	0.10%	Added +19	+19 0.1%
97	APA CORPORATION COM APA	APA	12,820	$418.0k0.10%	0.10%	Reduced -3.7k	-3,682 -22.3%
98	TYSON FOODS INC CL A TSN	TSN	6,874	$394.0k0.10%	0.10%	Added +33	+33 0.5%
99	SIMON PPTY GROUP INC NEW COM SPG	SPG	1,735	$388.0k0.09%	0.09%	Added +8	+8 0.5%
100	DTE ENERGY CO COM DTE	DTE	2,510	$382.0k0.09%	0.09%	Added +13	+13 0.5%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
APPLE INC AAPL	AAPL	20,381	$5.2m20.4k shares
AMAZON COM INC AMZN	AMZN	13,721	$2.9m13.7k shares
S&P GLOBAL INC SPGI	SPGI	1,031	$439.0k1.0k shares
APPLIED MATLS INC AMAT	AMAT	890	$304.0k890 shares
BERKSHIRE HATHAWAY INC DEL BRK.B	BRK.B	565	$271.0k565 shares
AUTOMATIC DATA PROCESSING IN ADP	ADP	982	$200.0k982 shares
ABBOTT LABS ABT	ABT	1,827	$188.0k1.8k shares
ABRDN PRECIOUS METALS BASKET GLTR	GLTR	790	$173.0k790 shares
BANK MONTREAL QUE BMO	BMO	1,105	$150.0k1.1k shares
BECTON DICKINSON & CO BDX	BDX	910	$143.0k910 shares
FORTINET INC FTNT	FTNT	1,559	$127.0k1.6k shares
SCHWAB STRATEGIC TR SCHH	SCHH	4,599	$99.0k4.6k shares
AIR PRODS & CHEMS INC APD	APD	323	$94.0k323 shares
ABRDN ETFS BCI	BCI	3,500	$85.0k3.5k shares
TELEFONICA S A TELFY	TELFY	84,445	$84.0k84.4k shares
AMERICAN EXPRESS CO AXP	AXP	230	$70.0k230 shares
AMERICAN ELEC PWR CO INC AEP	AEP	513	$67.0k513 shares
BAIDU INC BIDU	BIDU	450	$50.0k450 shares
EDGEWISE THERAPEUTICS INC EWTX	EWTX	1,377	$43.0k1.4k shares
ALLSTATE CORP ALL	ALL	77	$16.0k77 shares
DISNEY WALT CO DIS	DIS	164	$16.0k164 shares
ADVANCED MICRO DEVICES INC AMD	AMD	52	$11.0k52 shares
AMGEN INC AMGN	AMGN	19	$7.0k19 shares
BITWISE 10 CRYPTO INDEX ETF BITW	BITW	120	$5.0k120 shares
ALTRIA GROUP INC MO	MO	31	$2.0k31 shares