Gemmer Asset Management LLC
Long book
$1.27B
Q1 2026
Positions
172
Top-10 weight
55%
concentration
Last quarter
+16.1%
SPY +14.8%
Turnover
14%
of book per quarter
Strategy in plain words
auto-generated from filingsGemmer Asset Management LLC is a wealth-management firm allocating client money, running a $1.27B US long book across 172 positions.
The portfolio is concentrated: the top 10 names carry 55% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: SCHWAB INTL EQUITY ETF, SCHWAB US LARGE-CAP VALUE, SCHWAB US LARGE-CAP GROWTH, SCHWAB FNDMNTL US LRG CO ETF, VANGUARD SHORT-TERM BOND ETF.
Over the last 9 quarters its long book ran on average 0.4pp per quarter behind the S&P 500, beating the index in 4 of 9 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
Q1 2024
+0.7%
Q2 2024
+6.0%
Q3 2024
-0.4%
Q4 2024
-2.6%
Q1 2025
+10.1%
Q2 2025
+7.6%
Q3 2025
+1.5%
Q4 2025
-1.9%
Q1 2026
+16.1%
Sector allocation
Technology 60%
Services media 11%
Consumer discretionary 9%
Materials 6%
Financials 4%
Healthcare 3%
Industrials 2%
Other 2%
Long book by quarter
What does Gemmer Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 278.3K | $48.5M | 3.8% | -7.5% |
| MU MICRON TECHNOLOGY INC | Technology | 86.6K | $29.2M | 2.3% | +49.1% |
| ABM ABM INDUSTRIES INC | Services media | 468.5K | $18.0M | 1.4% | Held |
| AAPL APPLE INC | Technology | 54.9K | $13.9M | 1.1% | -0.5% |
| SBUX STARBUCKS CORP | Consumer discretionary | 105.0K | $9.4M | 0.7% | -0.2% |
| MSFT MICROSOFT CORP | Technology | 14.1K | $5.2M | 0.4% | -2.4% |
| ERO ERO COPPER CORP | Materials | 179.6K | $4.8M | 0.4% | New |
| AEM AGNICO EAGLE MINES LTD | Materials | 20.5K | $4.2M | 0.3% | New |
| VRT VERTIV HOLDINGS CO-A | Technology | 15.6K | $3.9M | 0.3% | +90.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 18.3K | $3.8M | 0.3% | -3.4% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 7.0K | $3.4M | 0.3% | -2.7% |
| GPRO GOPRO INC-CLASS A | Other | 11.4K | $3.3M | 0.3% | -0.8% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 7.7K | $2.7M | 0.2% | 0.0% |
| JNJ JOHNSON & JOHNSON | Healthcare | 8.5K | $2.1M | 0.2% | +7.5% |
| HD HOME DEPOT INC | Consumer discretionary | 6.2K | $2.0M | 0.2% | -4.4% |
| AMAT APPLIED MATERIALS INC | Technology | 5.4K | $1.8M | 0.1% | +141.6% |
| NFLX NETFLIX INC | Services media | 16.1K | $1.5M | 0.1% | -8.8% |
| TSLA TESLA INC | Industrials | 3.9K | $1.4M | 0.1% | -9.5% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.3K | $1.3M | 0.1% | -2.8% |
| CCJ CAMECO CORP | Materials | 11.6K | $1.3M | 0.1% | Held |
| JPM JPMORGAN CHASE & CO | Financials | 4.1K | $1.2M | 0.1% | -1.5% |
| ORCL ORACLE CORP | Technology | 7.9K | $1.2M | 0.1% | -1.6% |
| INTU INTUIT INC | Technology | 2.6K | $1.1M | 0.1% | +3.3% |
| LLY ELI LILLY & CO | Healthcare | 1.2K | $1.1M | 0.1% | -4.5% |
| ETN EATON CORP PLC | Industrials | 3.0K | $1.1M | 0.1% | +0.2% |
| BAC BANK OF AMERICA CORP | Financials | 20.3K | $988K | 0.1% | -1.9% |
| WMT WALMART INC | Consumer discretionary | 7.7K | $953K | 0.1% | -0.5% |
| QCOM QUALCOMM INC | Technology | 6.7K | $859K | 0.1% | -35.3% |
| CVX CHEVRON CORP | Energy | 4.1K | $847K | 0.1% | -1.8% |
| V VISA INC-CLASS A SHARES | Services media | 2.8K | $845K | 0.1% | -5.1% |
| PCG P G & E CORP | Utilities | 47.8K | $841K | 0.1% | -2.7% |
| CSCO CISCO SYSTEMS INC | Technology | 10.6K | $823K | 0.1% | +6.6% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 1 | $718K | 0.1% | Held |
| MRK MERCK & CO. INC. | Healthcare | 5.5K | $663K | 0.1% | +16.8% |
| UPST UPSTART HOLDINGS INC | Financials | 25.4K | $651K | 0.1% | +5.7% |
| WDC WESTERN DIGITAL CORP | Technology | 2.3K | $635K | 0.1% | New |
| XOM EXXON MOBIL CORP | Energy | 3.6K | $614K | 0.0% | +2.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 23, 2026 | 172 | $1.27B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 23, 2026 | 169 | $1.30B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 15, 2025 | 170 | $1.24B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 22, 2025 | 165 | $1.13B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 14, 2025 | 156 | $1.00B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 151 | $1.02B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 24, 2024 | 149 | $999.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 16, 2024 | 139 | $934.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 24, 2024 | 131 | $861.4M | canonical | SEC ↗ |