Cobblestone Asset Management

RICHMOND, VAfiles as Cobblestone Asset Management LLC

$240m in 74 US stocks at the end of 30 June 2026. The top 10 are 62.2% of the money. It changed about 19.2% of the portfolio this quarter.

Value

$240m

Stocks

Top 10 share

62.2%

Turnover

19.2%

What changed this quarter

New

Bought for the first time this quarter.

Schwab Strategic TRSCHF
2.5% of the fund
Blackrock ETF TrustIALT
1.9% of the fund
Blackrock ETF Trust IIGGOV
1.5% of the fund
Berkshire HathawayBRK-B
0.3% of the fund
IsharesEWG
0.3% of the fund
IsharesEWP
0.2% of the fund
J P Morgan Exchange Traded FJEPI
0.1% of the fund
Markel GroupMKL
0.1% of the fund
J P Morgan Exchange Traded FJEPQ
0.1% of the fund
BlockXYZ
<0.1% of the fund

Added

Bought more of a stock they already held.

J P Morgan Exchange Traded FJPST
15.1% of the fund
+31%
Ishares TRIVV
13.7% of the fund
+54%
J P Morgan Exchange Traded FJBND
5.1% of the fund
+29%
Spdr Index SHS FDSSPEM
4.7% of the fund
+5%
Ishares TRGOVT
2.7% of the fund
+4%
Ishares TRMBB
2.7% of the fund
+5%
Blackrock ETF TrustBLCR
2.0% of the fund
+4%
Blackrock ETF TrustIDEF
1.6% of the fund
+12%
Ishares Bitcoin Trust ETFIBIT
1.1% of the fund
+4%
IsharesECH
0.8% of the fund
+47%
Ishares Ethereum TRETHA
0.6% of the fund
+10%
Ishares Gold TRIAU
0.6% of the fund
+25%
IsharesEWZ
0.6% of the fund
+3%
Coinbase GlobalCOIN
0.6% of the fund
+21%
IsharesEWY
0.5% of the fund
+29%
IsharesEWW
0.5% of the fund
+80%
Grayscale Solana Staking ETFGSOL
0.4% of the fund
+13%
Invesco Exch Traded FD TR IIBKLN
0.4% of the fund
+8%
J P Morgan Exchange Traded FJPIE
0.4% of the fund
+11%
J P Morgan Exchange Traded FBBAG
0.4% of the fund
+11%
Joby AviationJOBY
0.3% of the fund
+5%
NIONIO
0.2% of the fund
+7%
Plug PowerPLUG
0.1% of the fund
+4%
NvidiaNVDA
0.1% of the fund
+5%
QuantumScapeQS
<0.1% of the fund
+66%

Cut

Sold some of their stake.

Spdr Series TrustSPYG
4.9% of the fund
-8%
Blackrock ETF TrustDYNF
4.8% of the fund
-4%
Spdr Series TrustSPYV
4.2% of the fund
-22%
Blackrock ETF TrustBAI
2.6% of the fund
-26%
Invesco Exch Traded FD TR IISPMO
2.1% of the fund
-29%
Ishares TRTLH
2.1% of the fund
-27%
Blackrock ETF TrustTHRO
1.4% of the fund
-41%
Ishares TRIVLU
1.3% of the fund
-64%
IntelINTC
0.7% of the fund
-20%
Ishares TREPOL
0.5% of the fund
-13%
IsharesEZA
0.5% of the fund
-37%
J P Morgan Exchange Traded FJGRO
0.5% of the fund
-11%
AppleAAPL
0.4% of the fund
-58%
Blackrock ETF Trust IIBINC
0.4% of the fund
-74%
J P Morgan Exchange Traded FJVAL
0.3% of the fund
-44%
Bristol-Myers SquibbBMY
0.3% of the fund
-15%
MicrosoftMSFT
0.3% of the fund
-9%
J P Morgan Exchange Traded FBBIN
0.2% of the fund
-39%
Bloom EnergyBE
0.2% of the fund
-10%
TeslaTSLA
0.2% of the fund
-13%
Amazon.comAMZN
0.1% of the fund
-4%
Dominion EnergyD
0.1% of the fund
-5%
Calamos ETF TRCAIE
<0.1% of the fund
-34%

Sold out

Sold their entire stake.

Ishares TREFG
-100%
J P Morgan Exchange Traded FJQUA
-100%
Ishares TRIAGG
-100%
Palo Alto NetworksPANW
-100%
CrowdStrike HoldingsCRWD
-100%
Ishares TRINDA
-100%
IsharesEWQ
-100%
Palantir TechnologiesPLTR
-100%
MckessonMCK
-100%

Holdings

J P Morgan Exchange Traded FJPST
Share
15.1%
Value
$36m
Shares
716,865
+31%
Ishares TRIVV
Share
13.7%
Value
$33m
Shares
43,966
+54%
J P Morgan Exchange Traded FJBND
Share
5.1%
Value
$12m
Shares
230,251
+29%
Spdr Series TrustSPYG
Share
4.9%
Value
$12m
Shares
99,439
-8%
Blackrock ETF TrustDYNF
Share
4.8%
Value
$11m
Shares
167,493
-4%
Spdr Index SHS FDSSPEM
Share
4.7%
Value
$11m
Shares
215,928
+5%
Spdr Series TrustSPYM
Share
4.3%
Value
$10m
Shares
116,376
Held
Spdr Series TrustSPYV
Share
4.2%
Value
$10m
Shares
167,149
-22%
Ishares TRGOVT
Share
2.7%
Value
$7m
Shares
288,832
+4%
Ishares TRMBB
Share
2.7%
Value
$6m
Shares
67,315
+5%
Blackrock ETF TrustBAI
Share
2.6%
Value
$6m
Shares
116,084
-26%
Schwab Strategic TRSCHF
Share
2.5%
Value
$6m
Shares
218,373
New
Invesco Exch Traded FD TR IISPMO
Share
2.1%
Value
$5m
Shares
31,197
-29%
Ishares TRTLH
Share
2.1%
Value
$5m
Shares
49,589
-27%
Blackrock ETF TrustBLCR
Share
2.0%
Value
$5m
Shares
93,163
+4%
Blackrock ETF TrustIALT
Share
1.9%
Value
$5m
Shares
164,290
New
Blackrock ETF TrustIDEF
Share
1.6%
Value
$4m
Shares
123,418
+12%
Blackrock ETF Trust IIGGOV
Share
1.5%
Value
$4m
Shares
73,744
New
Blackrock ETF TrustTHRO
Share
1.4%
Value
$3m
Shares
76,018
-41%
Ishares TRIVLU
Share
1.3%
Value
$3m
Shares
76,445
-64%
Ishares Bitcoin Trust ETFIBIT
Share
1.1%
Value
$3m
Shares
80,762
+4%
IsharesECH
Share
0.8%
Value
$2m
Shares
51,049
+47%
Philip Morris InternationalPM
Share
0.8%
Value
$2m
Shares
11,191
Held
CSXCSX
Share
0.7%
Value
$2m
Shares
34,941
Held
Sprott Asset Management LPPSLV
Share
0.7%
Value
$2m
Shares
87,426
Held
IntelINTC
Share
0.7%
Value
$2m
Shares
11,401
-20%
NewmarketNEU
Share
0.7%
Value
$2m
Shares
2,000
Held
Ishares Ethereum TRETHA
Share
0.6%
Value
$2m
Shares
130,830
+10%
Ishares Gold TRIAU
Share
0.6%
Value
$1m
Shares
19,520
+25%
IsharesEWZ
Share
0.6%
Value
$1m
Shares
39,172
+3%
Coinbase GlobalCOIN
Share
0.6%
Value
$1m
Shares
9,111
+21%
Ishares TREPOL
Share
0.5%
Value
$1m
Shares
34,065
-13%
IsharesEWY
Share
0.5%
Value
$1m
Shares
6,483
+29%
IsharesEWW
Share
0.5%
Value
$1m
Shares
17,315
+80%
IsharesEZA
Share
0.5%
Value
$1m
Shares
20,245
-37%
J P Morgan Exchange Traded FJGRO
Share
0.5%
Value
$1m
Shares
11,486
-11%
Grayscale Solana Staking ETFGSOL
Share
0.4%
Value
$1m
Shares
194,604
+13%
AppleAAPL
Share
0.4%
Value
$1m
Shares
3,644
-58%
Invesco Exch Traded FD TR IIBKLN
Share
0.4%
Value
$1m
Shares
51,738
+8%
J P Morgan Exchange Traded FJPIE
Share
0.4%
Value
$986,708
Shares
21,427
+11%
J P Morgan Exchange Traded FBBAG
Share
0.4%
Value
$959,390
Shares
20,879
+11%
Blackrock ETF Trust IIBINC
Share
0.4%
Value
$843,354
Shares
16,113
-74%
Berkshire HathawayBRK-B
Share
0.3%
Value
$815,135
Shares
1,629
New
Altria GroupMO
Share
0.3%
Value
$813,898
Shares
11,312
Held
J P Morgan Exchange Traded FJVAL
Share
0.3%
Value
$756,679
Shares
12,904
-44%
Bristol-Myers SquibbBMY
Share
0.3%
Value
$735,923
Shares
12,772
-15%
Joby AviationJOBY
Share
0.3%
Value
$704,680
Shares
79,000
+5%
MicrosoftMSFT
Share
0.3%
Value
$680,388
Shares
1,824
-9%
Ishares TRSYSB
Share
0.3%
Value
$664,663
Shares
7,492
Held
Sprott Asset Management LPPHYS
Share
0.3%
Value
$659,064
Shares
21,845
Held
IsharesEWG
Share
0.3%
Value
$638,132
Shares
15,425
New
IsharesEWP
Share
0.2%
Value
$504,459
Shares
8,494
New
NIONIO
Share
0.2%
Value
$497,135
Shares
98,248
+7%
J P Morgan Exchange Traded FBBIN
Share
0.2%
Value
$472,411
Shares
6,050
-39%
Bloom EnergyBE
Share
0.2%
Value
$423,780
Shares
1,400
-10%
Global Net LeaseGNL
Share
0.2%
Value
$401,805
Shares
44,945
Held
TeslaTSLA
Share
0.2%
Value
$399,991
Shares
951
-13%
J P Morgan Exchange Traded FJEPI
Share
0.1%
Value
$356,139
Shares
6,306
New
Plug PowerPLUG
Share
0.1%
Value
$341,568
Shares
126,040
+4%
Markel GroupMKL
Share
0.1%
Value
$335,918
Shares
172
New
Amazon.comAMZN
Share
0.1%
Value
$332,961
Shares
1,397
-4%
Dominion EnergyD
Share
0.1%
Value
$307,205
Shares
4,499
-5%
NvidiaNVDA
Share
0.1%
Value
$306,938
Shares
1,534
+5%
AlphabetGOOG
Share
0.1%
Value
$295,737
Shares
837
Held
Taiwan Semiconductor ManufacturingTSM
Share
0.1%
Value
$287,020
Shares
601
Held
International Business MachinesIBM
Share
0.1%
Value
$281,210
Shares
1,000
Held
Truist FinancialTFC
Share
0.1%
Value
$275,953
Shares
5,539
Held
J P Morgan Exchange Traded FJEPQ
Share
0.1%
Value
$274,200
Shares
4,461
New
JPMorgan ChaseJPM
Share
0.1%
Value
$263,273
Shares
804
Held
BlockXYZ
Share
<0.1%
Value
$225,720
Shares
2,970
New
Spdr Gold TRGLD
Share
<0.1%
Value
$215,871
Shares
586
Held
Calamos ETF TRCAIE
Share
<0.1%
Value
$207,491
Shares
7,626
-34%
QuantumScapeQS
Share
<0.1%
Value
$132,950
Shares
17,586
+66%
Aurora CannabisACB
Share
<0.1%
Value
$77,981
Shares
27,950
Held

Company	Share of fund	Value	Shares	Change
J P Morgan Exchange Traded FJPST	15.1%	$36m	716,865	+31%
Ishares TRIVV	13.7%	$33m	43,966	+54%
J P Morgan Exchange Traded FJBND	5.1%	$12m	230,251	+29%
Spdr Series TrustSPYG	4.9%	$12m	99,439	-8%
Blackrock ETF TrustDYNF	4.8%	$11m	167,493	-4%
Spdr Index SHS FDSSPEM	4.7%	$11m	215,928	+5%
Spdr Series TrustSPYM	4.3%	$10m	116,376	Held
Spdr Series TrustSPYV	4.2%	$10m	167,149	-22%
Ishares TRGOVT	2.7%	$7m	288,832	+4%
Ishares TRMBB	2.7%	$6m	67,315	+5%
Blackrock ETF TrustBAI	2.6%	$6m	116,084	-26%
Schwab Strategic TRSCHF	2.5%	$6m	218,373	New
Invesco Exch Traded FD TR IISPMO	2.1%	$5m	31,197	-29%
Ishares TRTLH	2.1%	$5m	49,589	-27%
Blackrock ETF TrustBLCR	2.0%	$5m	93,163	+4%
Blackrock ETF TrustIALT	1.9%	$5m	164,290	New
Blackrock ETF TrustIDEF	1.6%	$4m	123,418	+12%
Blackrock ETF Trust IIGGOV	1.5%	$4m	73,744	New
Blackrock ETF TrustTHRO	1.4%	$3m	76,018	-41%
Ishares TRIVLU	1.3%	$3m	76,445	-64%
Ishares Bitcoin Trust ETFIBIT	1.1%	$3m	80,762	+4%
IsharesECH	0.8%	$2m	51,049	+47%
Philip Morris InternationalPM	0.8%	$2m	11,191	Held
CSXCSX	0.7%	$2m	34,941	Held
Sprott Asset Management LPPSLV	0.7%	$2m	87,426	Held
IntelINTC	0.7%	$2m	11,401	-20%
NewmarketNEU	0.7%	$2m	2,000	Held
Ishares Ethereum TRETHA	0.6%	$2m	130,830	+10%
Ishares Gold TRIAU	0.6%	$1m	19,520	+25%
IsharesEWZ	0.6%	$1m	39,172	+3%
Coinbase GlobalCOIN	0.6%	$1m	9,111	+21%
Ishares TREPOL	0.5%	$1m	34,065	-13%
IsharesEWY	0.5%	$1m	6,483	+29%
IsharesEWW	0.5%	$1m	17,315	+80%
IsharesEZA	0.5%	$1m	20,245	-37%
J P Morgan Exchange Traded FJGRO	0.5%	$1m	11,486	-11%
Grayscale Solana Staking ETFGSOL	0.4%	$1m	194,604	+13%
AppleAAPL	0.4%	$1m	3,644	-58%
Invesco Exch Traded FD TR IIBKLN	0.4%	$1m	51,738	+8%
J P Morgan Exchange Traded FJPIE	0.4%	$986,708	21,427	+11%
J P Morgan Exchange Traded FBBAG	0.4%	$959,390	20,879	+11%
Blackrock ETF Trust IIBINC	0.4%	$843,354	16,113	-74%
Berkshire HathawayBRK-B	0.3%	$815,135	1,629	New
Altria GroupMO	0.3%	$813,898	11,312	Held
J P Morgan Exchange Traded FJVAL	0.3%	$756,679	12,904	-44%
Bristol-Myers SquibbBMY	0.3%	$735,923	12,772	-15%
Joby AviationJOBY	0.3%	$704,680	79,000	+5%
MicrosoftMSFT	0.3%	$680,388	1,824	-9%
Ishares TRSYSB	0.3%	$664,663	7,492	Held
Sprott Asset Management LPPHYS	0.3%	$659,064	21,845	Held
IsharesEWG	0.3%	$638,132	15,425	New
IsharesEWP	0.2%	$504,459	8,494	New
NIONIO	0.2%	$497,135	98,248	+7%
J P Morgan Exchange Traded FBBIN	0.2%	$472,411	6,050	-39%
Bloom EnergyBE	0.2%	$423,780	1,400	-10%
Global Net LeaseGNL	0.2%	$401,805	44,945	Held
TeslaTSLA	0.2%	$399,991	951	-13%
J P Morgan Exchange Traded FJEPI	0.1%	$356,139	6,306	New
Plug PowerPLUG	0.1%	$341,568	126,040	+4%
Markel GroupMKL	0.1%	$335,918	172	New
Amazon.comAMZN	0.1%	$332,961	1,397	-4%
Dominion EnergyD	0.1%	$307,205	4,499	-5%
NvidiaNVDA	0.1%	$306,938	1,534	+5%
AlphabetGOOG	0.1%	$295,737	837	Held
Taiwan Semiconductor ManufacturingTSM	0.1%	$287,020	601	Held
International Business MachinesIBM	0.1%	$281,210	1,000	Held
Truist FinancialTFC	0.1%	$275,953	5,539	Held
J P Morgan Exchange Traded FJEPQ	0.1%	$274,200	4,461	New
JPMorgan ChaseJPM	0.1%	$263,273	804	Held
BlockXYZ	<0.1%	$225,720	2,970	New
Spdr Gold TRGLD	<0.1%	$215,871	586	Held
Calamos ETF TRCAIE	<0.1%	$207,491	7,626	-34%
QuantumScapeQS	<0.1%	$132,950	17,586	+66%
Aurora CannabisACB	<0.1%	$77,981	27,950	Held

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 26.1% since 30 June 2025.

Where the money is

Technology2.0%

Financial services1.4%

Everyday goods1.2%

Industrials1.2%

Materials0.7%

Health care0.3%

Retail & consumer0.3%

Real estate0.2%

Utilities0.1%

Media & telecom0.1%

Other92.6%

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.