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Carmel Capital Management L.L.C.

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13F filer, CIK 1878547, CARMEL, CA

Carmel Capital Management L.L.C. reported $330,022,832 across 23 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-28. Its ten largest share positions make up 69.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001754960-26-000131

Period
2025-12-31
Reported value
$330M
Holdings
23
Top 10 weight
69.5%
New
0
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ENSadded+6,600$969K
EPIadded+7,400$343K
Cadded+2,600$303K
JPMadded+850$274K
NXPIadded+1,260$273K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GPKexited-308,050-$6.03M
FISVexited-46,410-$5.98M
AVGOreduced-4,520-$1.56M
AZOreduced-43-$146K
AMATreduced-435-$112K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001754960-26-000131, largest first. % of portfolio is the value over $330,022,832, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 173,080 shares; 2024Q4: 167,575 shares; 2025Q1: 155,730 shares; 2025Q2: 155,660 shares; 2025Q3: 147,450 shares; 2025Q4: 142,930 shares 142,930$49.5M14.99%-4,520Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 266,089 shares; 2024Q4: 255,439 shares; 2025Q1: 255,299 shares; 2025Q2: 254,764 shares; 2025Q3: 255,907 shares; 2025Q4: 255,354 shares 255,354$41.2M12.48%-553Timeline
AMATAPPLIED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 87,025 shares; 2024Q4: 86,375 shares; 2025Q1: 87,085 shares; 2025Q2: 87,085 shares; 2025Q3: 91,833 shares; 2025Q4: 91,398 shares 91,398$23.5M7.12%-435Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,675 shares; 2024Q4: 153,525 shares; 2025Q1: 173,775 shares; 2025Q2: 174,225 shares; 2025Q3: 176,349 shares; 2025Q4: 178,949 shares 178,949$20.9M6.33%+2,600Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,657 shares; 2024Q4: 61,447 shares; 2025Q1: 61,372 shares; 2025Q2: 61,272 shares; 2025Q3: 61,377 shares; 2025Q4: 62,227 shares 62,227$20.1M6.08%+850Timeline
KLACKLA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,015 shares; 2024Q4: 13,005 shares; 2025Q1: 13,273 shares; 2025Q2: 13,303 shares; 2025Q3: 13,532 shares; 2025Q4: 13,567 shares 13,567$16.5M5%+35Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,751 shares; 2024Q4: 13,943 shares; 2025Q1: 13,993 shares; 2025Q2: 13,973 shares; 2025Q3: 14,198 shares; 2025Q4: 14,218 shares 14,218$15.2M4.61%+20Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,396 shares; 2024Q4: 78,346 shares; 2025Q1: 79,196 shares; 2025Q2: 79,196 shares; 2025Q3: 81,141 shares; 2025Q4: 81,316 shares 81,316$14.9M4.52%+175Timeline
EWBCEAST WEST BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,770 shares; 2024Q4: 121,045 shares; 2025Q1: 121,545 shares; 2025Q2: 121,895 shares; 2025Q3: 126,000 shares; 2025Q4: 126,080 shares 126,080$14.2M4.29%+80Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 56,847 shares; 2024Q4: 55,412 shares; 2025Q1: 55,272 shares; 2025Q2: 49,492 shares; 2025Q3: 49,542 shares; 2025Q4: 49,687 shares 49,687$13.5M4.09%+145Timeline
NXPINXP SEMICONDUCTORS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 64,027 shares; 2024Q4: 58,697 shares; 2025Q1: 58,657 shares; 2025Q2: 58,577 shares; 2025Q3: 60,652 shares; 2025Q4: 61,912 shares 61,912$13.4M4.07%+1,260Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,262 shares; 2024Q4: 24,257 shares; 2025Q1: 24,027 shares; 2025Q2: 23,885 shares; 2025Q3: 24,475 shares; 2025Q4: 25,000 shares 25,000$12.6M3.81%+525Timeline
TERTERADYNE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 58,434 shares; 2024Q4: 57,334 shares; 2025Q1: 57,159 shares; 2025Q2: 57,159 shares; 2025Q3: 59,584 shares; 2025Q4: 59,784 shares 59,784$11.6M3.51%+200Timeline
ENSENERSYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,445 shares; 2024Q4: 45,045 shares; 2025Q1: 66,295 shares; 2025Q2: 66,095 shares; 2025Q3: 66,295 shares; 2025Q4: 72,895 shares 72,895$10.7M3.24%+6,600Timeline
RSPNINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,785 shares; 2024Q4: 167,785 shares; 2025Q1: 167,660 shares; 2025Q2: 168,260 shares; 2025Q3: 168,935 shares; 2025Q4: 171,635 shares 171,635$9.72M2.95%+2,700Timeline
RBCRBC BEARINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,728 shares; 2024Q4: 19,728 shares; 2025Q1: 19,728 shares; 2025Q2: 19,718 shares; 2025Q3: 19,723 shares; 2025Q4: 19,783 shares 19,783$8.87M2.69%+60Timeline
VLOVALERO ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,111 shares; 2024Q4: 48,011 shares; 2025Q1: 48,311 shares; 2025Q2: 48,311 shares; 2025Q3: 51,136 shares; 2025Q4: 52,586 shares 52,586$8.56M2.59%+1,450Timeline
AZOAUTOZONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,708 shares; 2024Q4: 2,508 shares; 2025Q1: 2,506 shares; 2025Q2: 2,503 shares; 2025Q3: 2,548 shares; 2025Q4: 2,505 shares 2,505$8.5M2.57%-43Timeline
ROBOEXCHANGE TRADED CONCEPTS TRUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 97,965 shares; 2024Q4: 97,715 shares; 2025Q1: 97,965 shares; 2025Q2: 97,890 shares; 2025Q3: 98,140 shares; 2025Q4: 98,940 shares 98,940$6.86M2.08%+800Timeline
EPIWISDOMTREE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,705 shares; 2024Q4: 127,705 shares; 2025Q1: 129,005 shares; 2025Q2: 129,405 shares; 2025Q3: 130,355 shares; 2025Q4: 137,755 shares 137,755$6.38M1.93%+7,400Timeline
SMHVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,122 shares; 2024Q4: 5,112 shares; 2025Q1: 5,062 shares; 2025Q2: 5,062 shares; 2025Q3: 5,062 shares; 2025Q4: 5,062 shares 5,062$1.82M0.55%0Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,539 shares; 2024Q4: 2,539 shares; 2025Q1: 2,539 shares; 2025Q2: 2,539 shares; 2025Q3: 2,539 shares; 2025Q4: 2,539 shares 2,539$1.23M0.37%0Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,005 shares; 2024Q4: 1,005 shares; 2025Q1: 1,005 shares; 2025Q2: 955 shares; 2025Q3: 1,120 shares; 2025Q4: 1,120 shares 1,120$444K0.13%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
GPKGRAPHIC PACKAGING HLDG CO308,050$6.03Mshares
FISVFISERV INC46,410$5.98Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001754960-26-000131 base2026-01-28acceptance time not in the bulk data set