Note Advisors, LLC
Long book
$200.1M
Q1 2026
Positions
85
Top-10 weight
62%
concentration
Last quarter
+8.1%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsNote Advisors, LLC is a wealth-management firm allocating client money, running a $200.1M US long book across 85 positions.
The portfolio is concentrated: the top 10 names carry 62% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: DIMENSIONAL US CORE EQUITY M, DIMENSIONAL CORE FIXED INC, DIMENSIONAL INTERNATIONAL CO, DIMENSIONAL US CORE EQUITY 2, VANGUARD TOTAL BOND MARKET.
Over the last 6 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 2 of 6 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
Q4 2024
-0.4%
Q1 2025
+6.1%
Q2 2025
+5.8%
Q3 2025
+2.4%
Q4 2025
-0.3%
Q1 2026
+8.1%
Sector allocation
Technology 50%
Consumer discretionary 22%
Financials 18%
Industrials 7%
Energy 3%
Long book by quarter
What does Note Advisors, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GOOG ALPHABET INC-CL C | Technology | 6.4K | $1.8M | 0.9% | +0.3% |
| MCD MCDONALD'S CORP | Consumer discretionary | 4.0K | $1.3M | 0.6% | Held |
| AAPL APPLE INC | Technology | 3.9K | $983K | 0.5% | Held |
| MSFT MICROSOFT CORP | Technology | 2.5K | $914K | 0.5% | -1.3% |
| NBTB N B T BANCORP INC | Financials | 17.9K | $761K | 0.4% | -8.5% |
| UAL UNITED AIRLINES HOLDINGS INC | Industrials | 5.9K | $542K | 0.3% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 1.7K | $494K | 0.2% | Held |
| AVGO BROADCOM INC | Technology | 1.5K | $463K | 0.2% | Held |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 859 | $412K | 0.2% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.0K | $409K | 0.2% | +6.4% |
| ADI ANALOG DEVICES INC | Technology | 1.1K | $347K | 0.2% | +0.1% |
| MTB M & T BANK CORP | Financials | 1.6K | $323K | 0.2% | +0.1% |
| XOM EXXON MOBIL CORP | Energy | 1.9K | $318K | 0.2% | -0.6% |
| HD HOME DEPOT INC | Consumer discretionary | 962 | $316K | 0.2% | +5.9% |
| META META PLATFORMS INC-CLASS A | Technology | 548 | $314K | 0.2% | +21.8% |
| WMT WALMART INC | Consumer discretionary | 2.1K | $266K | 0.1% | Held |
| NVDA NVIDIA CORP | Technology | 1.4K | $249K | 0.1% | New |
| JPM JPMORGAN CHASE & CO | Financials | 828 | $244K | 0.1% | Held |
| COR CENCORA INC | Consumer discretionary | 733 | $230K | 0.1% | -99.0% |
| C CITIGROUP INC | Financials | 1.9K | $211K | 0.1% | Held |
| TSLA TESLA INC | Industrials | 552 | $205K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 85 | $200.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 18, 2026 | 83 | $194.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 83 | $168.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 74 | $144.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 74 | $121.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 18, 2025 | 75 | $112.9M | canonical | SEC ↗ |