Spectrum Asset Management, Inc. (NB/CA)
Long book
$314.8M
Q1 2026
Positions
107
Top-10 weight
46%
concentration
Last quarter
+5.4%
SPY +14.8%
Turnover
26%
of book per quarter
Strategy in plain words
auto-generated from filingsSpectrum Asset Management, Inc. (NB/CA) is a wealth-management firm allocating client money, running a $314.8M US long book across 107 positions.
The portfolio is moderately concentrated (top 10 ≈ 46% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: WELLS FARGO & CO, VANGUARD ULTRA SHORT BOND ET, SCHWAB US LARGE-CAP VALUE, INVESCO S&P 500 EQUAL WEIGHT, ISHARES GOLD TRUST.
Over the last 9 quarters its long book ran on average 1.2pp per quarter behind the S&P 500, beating the index in 3 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
+1.0%
Q2 2024
+6.3%
Q3 2024
-0.8%
Q4 2024
+1.0%
Q1 2025
+5.9%
Q2 2025
+6.6%
Q3 2025
+1.2%
Q4 2025
+2.6%
Q1 2026
+5.4%
Sector allocation
Financials 31%
Technology 18%
Industrials 13%
Healthcare 10%
Energy 10%
Consumer discretionary 7%
Materials 6%
Utilities 3%
Long book by quarter
What does Spectrum Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WFC WELLS FARGO & CO | Financials | 414.7K | $33.0M | 10.5% | New |
| XOM EXXON MOBIL CORP | Energy | 40.5K | $6.9M | 2.2% | +4.1% |
| CVX CHEVRON CORP | Energy | 32.3K | $6.7M | 2.1% | +7.5% |
| GOOG ALPHABET INC-CL C | Technology | 18.9K | $5.4M | 1.7% | -1.1% |
| WMT WALMART INC | Consumer discretionary | 40.5K | $5.0M | 1.6% | -9.1% |
| EME EMCOR GROUP INC | Industrials | 6.3K | $4.7M | 1.5% | -0.4% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 12.7K | $4.4M | 1.4% | +0.1% |
| CSCO CISCO SYSTEMS INC | Technology | 55.1K | $4.3M | 1.4% | -11.0% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 17.7K | $4.0M | 1.3% | -14.6% |
| ABBV ABBVIE INC | Healthcare | 18.1K | $3.9M | 1.3% | +0.2% |
| DUK DUKE ENERGY CORP | Utilities | 29.5K | $3.9M | 1.2% | 0.0% |
| MSFT MICROSOFT CORP | Technology | 10.2K | $3.8M | 1.2% | -15.1% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 40.0K | $3.8M | 1.2% | 0.0% |
| FCX FREEPORT-MCMORAN INC | Materials | 54.3K | $3.2M | 1.0% | New |
| MDT MEDTRONIC PLC | Healthcare | 36.2K | $3.2M | 1.0% | +0.1% |
| EMR EMERSON ELECTRIC CO | Industrials | 23.8K | $3.1M | 1.0% | -0.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 6.4K | $3.1M | 1.0% | -10.2% |
| EW EDWARDS LIFESCIENCES CORP | Healthcare | 36.0K | $2.9M | 0.9% | +0.6% |
| ILMN ILLUMINA INC | Healthcare | 22.4K | $2.8M | 0.9% | New |
| LIN LINDE PLC | Materials | 4.7K | $2.3M | 0.7% | +0.4% |
| ORCL ORACLE CORP | Technology | 15.9K | $2.3M | 0.7% | -10.2% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 3 | $2.2M | 0.7% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 5.4K | $1.5M | 0.5% | +6.7% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.4K | $1.4M | 0.4% | -5.4% |
| MCK MCKESSON CORP | Consumer discretionary | 1.6K | $1.4M | 0.4% | Held |
| RTX RTX CORP | Industrials | 6.5K | $1.3M | 0.4% | -6.5% |
| AAPL APPLE INC | Technology | 4.7K | $1.2M | 0.4% | +11.1% |
| V VISA INC-CLASS A SHARES | Services media | 3.8K | $1.2M | 0.4% | +0.1% |
| SOLS SOLSTICE ADV MATERIALS INC | Materials | 15.0K | $1.1M | 0.4% | +219.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 4.0K | $831K | 0.3% | +145.8% |
| ESLT ELBIT SYSTEMS LTD | Industrials | 872 | $740K | 0.2% | -39.3% |
| GE GENERAL ELECTRIC | Industrials | 2.6K | $733K | 0.2% | +133.2% |
| GEV GE VERNOVA INC | Industrials | 825 | $721K | 0.2% | New |
| MCD MCDONALD'S CORP | Consumer discretionary | 2.2K | $669K | 0.2% | +0.3% |
| DE DEERE & CO | Industrials | 1.1K | $638K | 0.2% | +0.3% |
| FNV FRANCO-NEVADA CORP | Materials | 2.3K | $579K | 0.2% | -4.7% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 5.4K | $535K | 0.2% | New |
| PFE PFIZER INC | Healthcare | 18.6K | $522K | 0.2% | +1.1% |
| GD GENERAL DYNAMICS CORP | Industrials | 1.4K | $484K | 0.2% | New |
| BWXT BWX TECHNOLOGIES INC | Industrials | 2.3K | $475K | 0.2% | New |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 356 | $470K | 0.1% | -29.1% |
| SRE SEMPRA | Utilities | 4.8K | $467K | 0.1% | +0.8% |
| CAT CATERPILLAR INC | Industrials | 611 | $433K | 0.1% | +49.0% |
| LLY ELI LILLY & CO | Healthcare | 449 | $413K | 0.1% | -3.4% |
| TSLA TESLA INC | Industrials | 978 | $364K | 0.1% | Held |
| NVDA NVIDIA CORP | Technology | 2.1K | $359K | 0.1% | +0.3% |
| NEM NEWMONT CORP | Materials | 3.2K | $341K | 0.1% | New |
| PEP PEPSICO INC | Consumer staples | 2.2K | $340K | 0.1% | +1.8% |
| AEM AGNICO EAGLE MINES LTD | Materials | 1.6K | $335K | 0.1% | New |
| MORN MORNINGSTAR INC | Financials | 1.8K | $308K | 0.1% | +0.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 22, 2026 | 121 | $314.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 26, 2026 | 119 | $299.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 23, 2025 | 120 | $284.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 107 | $230.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 16, 2025 | 93 | $225.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 104 | $222.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 22, 2024 | 106 | $236.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 12, 2024 | 104 | $216.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 23, 2024 | 115 | $233.2M | canonical | SEC ↗ |