Pathstone Holdings Portfolio holdings
Pathstone Holdings is the parent company of Pathstone, a privately held wealth management firm for high net worth families and institutions. Matthew Fleissig, Steve Braverman and Allan Zachariah started Pathstone in 2010 as a multi-family office owned by its partners, and Fleissig is its chief executive. Pathstone offered tax, accounting and property management as an independent firm, not part of a bank or brokerage, and it picks outside investment managers rather than selling its own products. Pathstone bought Advisor Partners, a firm that builds portfolios from an index's individual stocks, in 2022, and that business became Concentric Innovation in 2025. It also acquired Veritable LP, among the oldest multi-family offices in the US, in 2023, and merged with the wealth advisory firm Hall Capital in 2024.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVR
NVR
|
+$204M |
| 2 |
Vanguard S&P 500 ETF
VOO
|
+$165M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$150M |
| 4 |
SPDR Gold Trust
GLD
|
+$141M |
| 5 |
Silicon Laboratories
SLAB
|
+$125M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Russell 1000 Growth ETF
VONG
|
+$117M |
| 2 |
iShares Russell 1000 Growth ETF
IWF
|
+$54.1M |
| 3 |
Vanguard Russell 2000 Growth ETF
VTWG
|
+$46.7M |
| 4 |
Baillie Gifford International Concentrated Growth ETF
BGCG
|
+$35.2M |
| 5 |
Keurig Dr Pepper
KDP
|
+$30.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 57.28% |
| 2 | Technology | 15% |
| 3 | Financials | 6.62% |
| 4 | Healthcare | 3.95% |
| 5 | Consumer Discretionary | 3.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
226
Vanguard S&P 500 Value ETF
VOOV
$7.02B
| $20.5M | 0.06% |
93,105
+5,215
| +6% | +$1.18M |
2023 Q4
11 quarters
|
|
227
S&P Global
SPGI
$137B
| $20.5M | 0.06% |
52,595
+2,018
| +4% | +$854K |
2023 Q4
11 quarters
|
|
228
Sight Sciences
SGHT
$602M
| $20.5M | 0.06% |
2,186,524
+507,544
| +30% | +$3.61M |
2025 Q4
3 quarters
|
|
229
Dorchester Minerals
DMLP
$1.45B
| $20.4M | 0.06% |
727,480
+368,000
| +102% | +$10.3M |
2026 Q1
2 quarters
|
|
230
Pfizer
PFE
$165B
| $20.3M | 0.06% |
712,879
+59,992
| +9% | +$1.6M |
2023 Q4
11 quarters
|
|
231
iShares MSCI USA Value Factor ETF
VLUE
$9.12B
| $20.3M | 0.06% |
102,601
+101,413
| +8,536% | +$20.1M |
2026 Q2
1 quarter
|
|
232
Clough Global Opportunities Fund
GLO
$233M
| $20.2M | 0.06% |
3,774,806
-85,352
| -2% | -$493K |
2025 Q3
4 quarters
|
|
233
Vanguard Morningstar Mid-Cap Value ETF
VOE
$24.8B
| $20M | 0.06% |
102,424
+93,603
| +1,061% | +$19.1M |
2023 Q4
11 quarters
|
|
234
Avantis Emerging Markets Value ETF
AVES
$1.48B
| $20M | 0.06% |
307,323
+6,409
| +2% | +$416K |
2023 Q4
11 quarters
|
|
235
Salesforce
CRM
$179B
| $19.8M | 0.05% |
86,092
+7,432
| +9% | +$1.53M |
2023 Q4
11 quarters
|
|
236
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.1B
| $19.7M | 0.05% |
185,506
+4,600
| +3% | +$529K |
2023 Q4
11 quarters
|
|
237
BNY Mellon Strategic Municipals
LEO
$363M
| $19.5M | 0.05% |
3,500,268
+12,977
| +0.4% | +$79.5K |
2023 Q4
11 quarters
|
|
238
Newmont
NEM
$118B
| $19.2M | 0.05% |
166,101
-363
| -0.2% | -$40.6K |
2023 Q4
11 quarters
|
|
239
Travelers Companies
TRV
$82.6B
| $19M | 0.05% |
53,356
+2,777
| +5% | +$1.02M |
2023 Q4
11 quarters
|
|
240
Alpha Architect 1-3 Month Box ETF
BOXX
$14.4B
| $18.9M | 0.05% |
+159,952
| New | +$18.8M |
2026 Q3
0 quarters
|
|
241
United Rentals
URI
$69.6B
| $18.9M | 0.05% |
19,022
-173
| -0.9% | -$185K |
2023 Q4
11 quarters
|
|
242
Vanguard Short-Term Bond ETF
BSV
$46.5B
| $18.8M | 0.05% |
129,094
-3,208
| -2% | -$248K |
2023 Q4
11 quarters
|
|
243
iShares MSCI Emerging Markets ETF
EEM
$28.2B
| $18.6M | 0.05% |
280,122
-29,460
| -10% | -$1.95M |
2023 Q4
11 quarters
|
|
244
Marriott Vacations Worldwide
VAC
$4.02B
| $18.5M | 0.05% |
180,888
-396
| -0.2% | -$41.4K |
2023 Q4
11 quarters
|
|
245
HSBC
HSBC
$306B
| $18.4M | 0.05% |
194,717
+19,965
| +11% | +$2.04M |
2023 Q4
11 quarters
|
|
246
Schwab US Mid-Cap ETF
SCHM
$14.9B
| $18.4M | 0.05% |
587,220
+551,416
| +1,540% | +$19.5M |
2023 Q4
11 quarters
|
|
247
PNC Financial Services
PNC
$92.3B
| $18.3M | 0.05% |
82,519
+510
| +0.6% | +$125K |
2023 Q4
11 quarters
|
|
248
Booking.com
BKNG
$119B
| $18.3M | 0.05% |
112,463
+5,449
| +5% | +$1.02M |
2023 Q4
11 quarters
|
|
249
W.W. Grainger
GWW
$69.7B
| $18.2M | 0.05% |
14,659
+128
| +0.9% | +$169K |
2023 Q4
11 quarters
|
|
250
Trane Technologies
TT
$91.5B
| $18.2M | 0.05% |
42,102
+2,644
| +7% | +$1.22M |
2023 Q4
11 quarters
|
|
Similar funds
Pathstone Holdings's Q3 2026 Portfolio in Review
As of Q3 2026, Pathstone Holdings held 2,499 positions worth $36.2B, up 5.5% from $34.3B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Pathstone Holdings deployed $2.69B of net new capital in Q3 2026, opening 168 new positions and adding to 1,300 existing holdings. Its largest new stake was JPMorgan Active Growth ETF: 809,296 shares worth $38.3M.
By sector, the portfolio is most concentrated in Miscellaneous at 57% of assets, up from 57% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was Vanguard Russell 1000 Growth ETF, an estimated $117M trimmed.
- Pathstone Holdings's largest Q3 2026 buy was JPMorgan Active Growth ETF: 809,296 shares worth $38.3M.
- Pathstone Holdings added most to NVR in Q3 2026, an estimated $204M increase.
- Pathstone Holdings's biggest Q3 2026 reduction was Vanguard Russell 1000 Growth ETF, cutting an estimated $117M.
- Pathstone Holdings fully exited abrdn National Municipal Income Fund in Q3 2026, selling an estimated $7.53M.
- Pathstone Holdings's ten largest holdings make up 31% of its $36.2B portfolio in Q3 2026.
- Pathstone Holdings opened 168 new positions and closed 110 in Q3 2026.
- Pathstone Holdings's portfolio value rose 5.5% quarter-over-quarter to $36.2B.
Based on Pathstone Holdings's 13F filing for Q3 2026, filed 13 Nov 2026.