Baker Ellis Asset Management LLC
SEC Form 13F institutional filer · CIK 0001365559
13F-HR · 120 reported holdings · 2026-03-31
Reported long-US-equity value
$0.55B
Top-10 concentration
50.5%
Baker Ellis Asset Management LLC — $554M AUM allocation strategy
Baker Ellis Asset Management LLC files SEC Form 13F and reports $554M of long US equity value across 120 reported holdings for 2026-03-31.
Its largest sector bet is Financials 21.8%, followed by Information Technology 14.0% and Industrials 3.7%.
The top 10 holdings account for 51% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Baker Ellis Asset Management LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$554M
total across 120 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
51% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$SCHW +26.9K sh · +$2.19M+$BEN +16.7K sh · +$523K+$ON +8.74K sh · +$1.09M
Biggest trims (shares)
−$NWSA −12.4K sh · −$407K−$GS −7.49K sh · −$813K−$IVZ −4.39K sh · −$151K
Exited to nil (held last quarter, gone now)
$IBM ($285K last qtr)$TMO ($249K last qtr)$FICO ($235K last qtr)$TSLA ($233K last qtr)$DHR ($211K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Investment Banking & Brokerage9.4%—
- Multi-Sector Holdings6.2%—
- Semiconductor Materials & Equipment4.4%—
- Systems Software3.8%—
- Semiconductors3.8%—
- Aerospace & Defense3.7%—
- Interactive Media & Services3.3%—
- Asset Management & Custody Banks3.3%—
- Other holdings62.1%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
7 of 7 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $BRK.B | Berkshire Hathaway Inc.-Class B | 71.7K | $34.4M | -59 | 6.2% |
| $GS | Goldman Sachs Group Inc | 527K | $31.5M | -7.49K | 5.7% |
| $LRCX | Lam Research Corporation | 113K | $24.1M | -3.85K | 4.3% |
| $MSFT | Microsoft Corporation | 57.3K | $21.2M | +788 | 3.8% |
| $SCHW | Charles Schwab Corporation | 701K | $20.6M | +26.9K | 3.7% |
| $IVZ | Invesco Ltd | 334K | $18.1M | -4.39K | 3.3% |
| $JPM | JP Morgan Chase & Co | 55.4K | $16.3M | -45 | 2.9% |
…and 113 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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