Freestate Advisors LLC
Long book
$125.1M
Q1 2026
Positions
42
Top-10 weight
82%
concentration
Last quarter
+6.8%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsFreestate Advisors LLC is a wealth-management firm allocating client money, running a $125.1M US long book across 42 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: SS SPDR P S&P 500 VALUE ETF, VANGUARD S&P 500 ETF, SCHWAB INTL EQUITY ETF, ISHARES CORE U.S. AGGREGATE, ISHARES 0-5 YR HY CORP BOND.
Over the last 7 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 2 of 7 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q3 2024
-1.4%
Q4 2024
+0.9%
Q1 2025
+5.5%
Q2 2025
+4.8%
Q3 2025
+2.5%
Q4 2025
+0.4%
Q1 2026
+6.8%
Sector allocation
Technology 33%
Communications 28%
Healthcare 12%
Financials 9%
Industrials 7%
Materials 5%
Consumer discretionary 5%
Long book by quarter
What does Freestate Advisors own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 4.4K | $1.1M | 0.9% | +0.1% |
| MMM 3M CO | Healthcare | 4.1K | $596K | 0.5% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 2.1K | $514K | 0.4% | Held |
| T AT&T INC | Communications | 16.6K | $481K | 0.4% | -1.2% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 9.2K | $462K | 0.4% | 0.0% |
| TMUS T-MOBILE US INC | Communications | 2.1K | $438K | 0.3% | -21.3% |
| JPM JPMORGAN CHASE & CO | Financials | 1.5K | $429K | 0.3% | -2.3% |
| DE DEERE & CO | Industrials | 579 | $326K | 0.3% | +0.3% |
| DOW DOW INC | Materials | 6.4K | $265K | 0.2% | New |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.2K | $242K | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 9, 2026 | 42 | $125.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 12, 2026 | 41 | $130.2M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 7, 2025 | 42 | $119.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 16, 2025 | 46 | $112.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 9, 2025 | 36 | $91.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 14, 2025 | 37 | $96.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 9, 2024 | 36 | $96.1M | canonical | SEC ↗ |