Carmel Capital Management L.L.C.
CARMEL, CA
$456m in 28 US stocks at the end of 30 June 2026. The top 10 are 67.2% of the money. It changed about 8.8% of the portfolio this quarter.
Value
$456m
Stocks
28
Top 10 share
67.2%
Turnover
8.8%
What changed this quarter
New
Bought for the first time this quarter.
- Texas InstrumentsTXN<0.1% of the fund
- Schwab Strategic TRSCHA<0.1% of the fund
- Emerson ElectricEMR<0.1% of the fund
- Schwab Strategic TRSCHX<0.1% of the fund
Added
Bought more of a stock they already held.
- Garrett MotionGTX3.8% of the fund+53%
- Valero EnergyVLO3.8% of the fund+25%
- Icici BankIBN1.7% of the fund+28%
Cut
Sold some of their stake.
- Applied MaterialsAMAT12.6% of the fund-11%
- KLAKLAC5.8% of the fund-27%
- TeradyneTER4.4% of the fund-16%
- MicrosoftMSFT0.2% of the fund-20%
Sold out
Sold their entire stake.
- Wisdomtree TREPI-100%
Holdings
- Invesco Exchange Traded FD TRSPN
- Share
- 2.4%
- Value
- $11m
- Shares
- 173,445
Held
- Exchange Traded Concepts TRUROBO
- Share
- 1.9%
- Value
- $9m
- Shares
- 100,490
Held
- Vaneck ETF TrustSMH
- Share
- 0.7%
- Value
- $3m
- Shares
- 4,937
Held
- Spdr Gold TRGLD
- Share
- <0.1%
- Value
- $412,586
- Shares
- 1,120
Held
- Schwab Strategic TRSCHA
- Share
- <0.1%
- Value
- $233,255
- Shares
- 6,456
New
- Schwab Strategic TRSCHX
- Share
- <0.1%
- Value
- $211,896
- Shares
- 7,200
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Applied MaterialsAMAT | 12.6% | $57m | 79,258 | -11% |
| BroadcomAVGO | 11.7% | $53m | 141,369 | Held |
| VistraVST | 8.9% | $41m | 256,306 | Held |
| ASML Holding NVASML | 6.1% | $28m | 13,931 | Held |
| KLAKLAC | 5.8% | $26m | 87,020 | -27% |
| CitigroupC | 5.4% | $25m | 177,259 | Held |
| JPMorgan ChaseJPM | 4.5% | $20m | 62,144 | Held |
| TeradyneTER | 4.4% | $20m | 41,957 | -16% |
| NXP SemiconductorsNXPI | 4.1% | $19m | 65,902 | Held |
| Garrett MotionGTX | 3.8% | $17m | 481,650 | +53% |
| EnerSysENS | 3.8% | $17m | 73,760 | Held |
| Valero EnergyVLO | 3.8% | $17m | 65,933 | +25% |
| East West BancorpEWBC | 3.6% | $16m | 125,880 | Held |
| RBC BearingsRBC | 3.5% | $16m | 24,625 | Held |
| RTXRTX | 3.3% | $15m | 80,526 | Held |
| AppleAAPL | 3.1% | $14m | 49,612 | Held |
| Berkshire HathawayBRK-B | 2.8% | $13m | 25,145 | Held |
| Invesco Exchange Traded FD TRSPN | 2.4% | $11m | 173,445 | Held |
| Exchange Traded Concepts TRUROBO | 1.9% | $9m | 100,490 | Held |
| AutozoneAZO | 1.8% | $8m | 2,501 | Held |
| Icici BankIBN | 1.7% | $8m | 270,525 | +28% |
| Vaneck ETF TrustSMH | 0.7% | $3m | 4,937 | Held |
| MicrosoftMSFT | 0.2% | $760,588 | 2,039 | -20% |
| Spdr Gold TRGLD | <0.1% | $412,586 | 1,120 | Held |
| Texas InstrumentsTXN | <0.1% | $247,696 | 831 | New |
| Schwab Strategic TRSCHA | <0.1% | $233,255 | 6,456 | New |
| Emerson ElectricEMR | <0.1% | $214,725 | 1,500 | New |
| Schwab Strategic TRSCHX | <0.1% | $211,896 | 7,200 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 53.9% since 30 June 2025.
Where the money is
Technology41.9%
Financial services17.9%
Industrials16.7%
Utilities8.9%
Retail & consumer5.6%
Energy3.8%
Other5.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.