Smith Asset Management Co., LLC
Long book
$116.5M
Q1 2026
Positions
71
Top-10 weight
40%
concentration
Last quarter
+8.9%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsSmith Asset Management Co., LLC is a diversified fundamental manager, running a $116.5M US long book across 71 positions.
The portfolio is moderately concentrated (top 10 ≈ 40% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, NUVEEN PREFERED & INCOME OPP, ARES CAPITAL CORP, DNP SELECT INCOME FUND INC, ALLIANCEBERNSTEIN GL HI INC.
Over the last 6 quarters its long book ran on average 1.9pp per quarter behind the S&P 500, beating the index in 2 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
+3.7%
Q1 2025
+2.6%
Q2 2025
+4.4%
Q3 2025
-0.2%
Q4 2025
-3.1%
Q1 2026
+8.9%
Sector allocation
Financials 34%
Other 28%
Technology 21%
Consumer discretionary 12%
Utilities 2%
Consumer staples 1%
Healthcare 1%
Long book by quarter
What does Smith Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 15.5K | $7.4M | 6.4% | +4.0% |
| ARCC ARES CAPITAL CORP | — | 344.3K | $6.2M | 5.3% | +9.2% |
| AAPL APPLE INC | Technology | 12.7K | $3.2M | 2.8% | +9.8% |
| AMZN AMAZON.COM INC | Consumer discretionary | 6.5K | $1.4M | 1.2% | +15.6% |
| MSFT MICROSOFT CORP | Technology | 2.7K | $999K | 0.9% | +211.8% |
| SPH SUBURBAN PROPANE PARTNERS LP | Consumer discretionary | 42.0K | $827K | 0.7% | -0.7% |
| WMT WALMART INC | Consumer discretionary | 4.5K | $554K | 0.5% | +0.2% |
| GOOGL ALPHABET INC-CL A | Technology | 1.6K | $454K | 0.4% | +54.9% |
| DUK DUKE ENERGY CORP | Utilities | 2.7K | $348K | 0.3% | -1.8% |
| MO ALTRIA GROUP INC | Consumer staples | 3.7K | $247K | 0.2% | -3.5% |
| AMGN AMGEN INC | Healthcare | 661 | $233K | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 71 | $116.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 19, 2026 | 70 | $121.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 3, 2025 | 67 | $117.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Nov 3, 2025 | 69 | $115.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 19, 2025 | 66 | $106.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jul 16, 2025 | 66 | $102.7M | canonical | SEC ↗ |
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