Bristlecone Value Partners, LLC

CIK 1313998 · View on SEC EDGAR ↗

Portfolio value QoQ: +9.4% 13F does not disclose cash

Top 10 holdings weight57.51%

Top 25 holdings weight80.95%

Positions above 1%25

Effective number of positions20.2

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 1.29% Est. buys $2,701,506 · sells $1,531,258

New positions3

Increased21

Decreased19

Closed1

Portfolio value $124.3M #7,965 of 9,337 by 13F value · top 85.3%

Positions 70

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Financials 5.4%

Industrials 4.2%

Consumer Discretionary 2.3%

Technology 2.1%

Retail 1.8%

Consumer Staples 1.6%

Healthcare 1.3%

Materials 0.7%

Communication Services 0.7%

Utilities 0.5%

Energy 0.3%

Consumer products 0.3%

Real Estate 0.3%

Other/Unmapped 78.7%

Full portfolio 70 positions

					Streak
VEA Vanguard FTSE Developed Markets ETF	$16,720,891	13.45%	234,679	$1,695,199	Up ×1
FNDX SCHWAB STRATEGIC TRUST	$11,562,496	9.30%	371,784	$1,113,178	Down ×1
VIG Vanguard Div Appreciation ETF	$10,456,963	8.41%	44,193	$989,166	Up ×2
DGS WisdomTree Trust	$7,682,959	6.18%	118,729	$471,742	Down ×2
VIGI Vanguard International Dividend Appreciation ETF	$4,814,888	3.87%	51,562	$254,522	Up ×2
VOO Vanguard S&P 500 ETF	$4,599,795	3.70%	6,697	$723,312	Up ×1
IJR iShares Trust	$4,419,993	3.56%	29,802	$731,421	Up ×2
AVDV AMERICAN CENTURY ETF TRUST	$4,281,387	3.44%	41,546	$136,276	Up ×2
REET iShares Trust	$3,491,443	2.81%	126,409	$456,979	Up ×2
BND Vanguard Total Bond Market ETF	$3,470,531	2.79%	47,276	$-10,874
VUSB Vanguard Ultra-Short Bond ETF	$3,285,852	2.64%	66,007	$369,471	Up ×2
GNR State Street SPDR S&P Global Natural Resources ETF	$3,262,487	2.62%	48,469	$-399,751	Down ×2
CGCP Capital Group Fixed Income ETF Trust	$2,626,319	2.11%	117,825	$191,996	Up ×2
PICB Invesco Exchange-Traded Fund Trust II	$2,336,045	1.88%	100,865	$198,555	Up ×2
FNDF SCHWAB STRATEGIC TRUST	$2,236,952	1.80%	42,398	$167,814	Up ×2
INTC Intel Corporation - Common Stock	$2,058,565	1.66%	14,743	$1,405,750	Down ×2
BAC Bank of America Corporation Common Stock	$1,950,705	1.57%	34,234	$281,753	Down ×2
JCI Johnson Controls International plc Ordinary Share	$1,717,815	1.38%	11,757	$170,379	Down ×2
VOE Vanguard Morningstar Mid-Cap Value ETF	$1,604,817	1.29%	8,121	$126,988	Up ×1
VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares	$1,422,953	1.14%	28,328	$-750,497	Down ×1
FDM First Trust Exchange-Traded Fund	$1,356,175	1.09%	14,565	$87,287	Down ×2
LOW Lowe's Companies, Inc. Common Stock	$1,339,476	1.08%	6,075	$-98,288	Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B	$1,335,540	1.07%	2,669	$55,597	Down ×1
VMI Valmont Industries, Inc. Common Stock	$1,323,281	1.06%	2,291	$407,866
MKL Markel Group Inc. Common Stock	$1,277,268	1.03%	654	$35,037	Up ×1
AXP American Express Company Common Stock	$1,178,463	0.95%	3,484	$124,623
JMST JPMorgan Ultra-Short Municipal Income ETF	$1,162,545	0.94%	22,795	$-3,623	Down ×2
PEP PepsiCo, Inc. - Common Stock	$1,030,123	0.83%	7,608	$-151,323
VTEB Vanguard Tax-Exempt Bond ETF	$1,021,109	0.82%	20,188	$67,811	Up ×1
BUD Anheuser-Busch Inbev SA Sponsored ADR (Belgium)	$977,181	0.79%	11,859	$154,522
VRP Invesco Variable Rate Preferred ETF	$944,019	0.76%	38,832	$63,706	Up ×1
FNDC SCHWAB STRATEGIC TRUST	$838,582	0.67%	17,269	$35,673	Down ×2
GHC Graham Holdings Company Common Stock	$772,741	0.62%	677	$56,976
AMGN Amgen Inc. - Common Stock	$727,136	0.58%	2,008	$20,621
HGTY Hagerty, Inc. Class A Common Stock	$716,308	0.58%	60,093	$83,529
FNDA SCHWAB STRATEGIC TRUST	$655,851	0.53%	17,232	$1,088	Down ×1
UHALB CUSIP: 023586506	$609,369	0.49%	10,561	$137,609
AGCO AGCO Corporation Common Stock	$602,210	0.48%	5,031	$19,268
WIP SPDR SERIES TRUST	$585,768	0.47%	14,871	$108,905	Up ×2
NRG NRG Energy, Inc. Common Stock	$568,173	0.46%	3,890	$-312
RLGT CUSIP: 75025X100	$552,747	0.44%	58,430	$140,815
KMX CarMax Inc	$513,614	0.41%	9,711	$113,157	Up ×1
AAPL Apple Inc. - Common Stock	$492,141	0.40%	1,700	$60,496	Down ×1
KOP Koppers Holdings Inc. Common Stock	$478,185	0.38%	10,650	$66,243
CX Cemex, S.A.B. de C.V. Sponsored ADR	$476,160	0.38%	39,680	$22,221
CMT CUSIP: 218683100	$472,000	0.38%	20,000	$24,000
META Meta Platforms, Inc. - Class A Common Stock	$465,062	0.37%	825	$-7,298	Down ×1
CALI iShares Short-Term California Muni Active ETF	$461,485	0.37%	9,132	$67,778	Up ×1
NKE Nike, Inc. Common Stock	$456,476	0.37%	11,120	$2,435	Up ×1
MCFT MasterCraft Boat Holdings, Inc. - Common Stock	$438,940	0.35%	17,000	$90,270
USFR WisdomTree Floating Rate Treasury Fund	$437,189	0.35%	8,683	$95,984	Up ×1
NTR Nutrien Ltd. Common Shares	$420,946	0.34%	6,687	$-83,655
VUG Vanguard Morningstar Growth ETF	$414,505	0.33%	4,812	$64,199	Up ×1
YUM Yum! Brands, Inc.	$413,078	0.33%	2,584	$9,763	Down ×1
DIS Walt Disney Company (The) Common Stock	$389,687	0.31%	4,048	$-526	Down ×1
HZO MarineMax, Inc. (FL) Common Stock	$384,510	0.31%	10,500	$100,380
TITN Titan Machinery Inc. - Common Stock	$359,040	0.29%	17,000	$74,800
OXY Occidental Petroleum Corporation Common Stock	$341,787	0.27%	7,037	$-115,618
NVR NVR, Inc. Common Stock	$340,670	0.27%	50	$-2,001	Down ×1
CHCI Comstock Holding Companies, Inc. - Class A Common Stock	$330,673	0.27%	20,680	$-61,006
MDT Medtronic plc. Ordinary Shares	$317,613	0.26%	4,060	$-34,186
GIL Gildan Activewear, Inc. Class A Sub. Vot. Common Stock	$315,224	0.25%	6,109	$-24,742
LH Labcorp Holdings Inc. Common Stock	$306,040	0.25%	1,093	$14,417
CFFI C&F Financial Corporation - Common Stock	$284,480	0.23%	3,556	$25,105
SGC Superior Group of Companies, Inc. - Common Stock	$256,391	0.21%	19,542	$57,844
QUAD Quad Graphics, Inc Class A Common Stock	$252,900	0.20%	30,000	$54,600
EML Eastern Company (The) - Common Stock	$250,650	0.20%	9,000		Up ×1
NVS Novartis AG Common Stock	$235,863	0.19%	1,505	$-38,171	Down ×1
FSTR L.B. Foster Company - Common Stock	$234,612	0.19%	5,194		Up ×1
PII Polaris Inc. Common Stock	$205,525	0.17%	3,003		Up ×1
No matches

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
EML	$250,650	9,000	0.20%
FSTR	$234,612	5,194	0.19%
PII	$205,525	3,003	0.17%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
VEA	Bought more	+196	+$1.7M
INTC	Trimmed	-50	+$1.4M
FNDX	Trimmed	-3K	+$1.1M
VIG	Bought more	+169	+$989K
VTIP	Trimmed	-15K	-$750K
IJR	Bought more	+130	+$731K
VOO	Bought more	+210	+$723K
DGS	Trimmed	-1K	+$472K
REET	Bought more	+6K	+$457K
VMI	Price move only	+0	+$408K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
VBIL	June 30, 2026	3,428	$259,298