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Baker Ellis Asset Management LLC — 13F Holdings & Portfolio

CIK 1365559 · latest 13F-HR filed 2026-10-14

Backtest portfolio

Baker Ellis Asset Management LLC manages $917.1M in 13F-reported U.S. long-equity assets across 252 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are VTI (8.81%), BRK.B (4.05%), LRCX (3.55%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 7 new positions and exited 20; 57 existing positions rose in reported value and 97 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$917.1M

Long-equity book

Holdings
252

Distinct positions

Period
2026-09-30

Filed 2026-10-14

Q/Q Activity
+7 / −20 / ↑57 / ↓97

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
VTI8.8% · -1%BRK.B4.0% · +1%LRCX3.5% · -6%VGT3.5% · 0%MSFT3.2% · +0%DISV2.5% · -1%STRL2.5% · -3%VOO2.4% · +3%VYM2.2% · -2%GSIE2.0% · -4%JPM2.0% · -0%IXUS1.9% · -0%PRF1.9% · +0%FBND1.7% · -4%MFUS1.7% · newAAPL1.6% · -1%AVGO1.5% · -2%JHMM1.4% · -3%SCHD1.4% · -2%COST1.3% · -3%SGOV1.3% · +18%XOM1.3% · +1%GOOG1.3% · -2%RTX1.2% · -1%ADI1.2% · -1%GOOGL1.1% · 0%DGS1.1% · -1%MGC1.1% · 0%BRK.A1.1% · 0%AMZN1.1% · +1%TKR0.8% · +0%OSK0.8% · 0%FNDX0.7% · +0%KGS0.7% · -1%SPY0.7% · +1%ON0.7% · +1%MAA0.7% · +0%MLI0.7% · +100%GBIL0.6% · -29%ISTB0.6% · +3%LIN0.6% · +5%SYK0.6% · -1%COF0.6% · -3%VT0.6% · 0%TAP0.6% · +1%SLB0.6% · +0%GTX0.6% · -2%PSA0.6% · +3%ETN0.6% · +1%CARR0.5% · -2%PNW0.5% · -1%BP0.5% · -1%QQQ0.5% · +0%NOC0.5% · -1%VHT0.5% · +6%VXF0.5% · 0%GLDM0.4% · -1%LLY0.4% · -0%FMX0.4% · -4%AGCO0.4% · +0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 34.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Aug 11, 2026.

Assets Under Management
$1.05B
Discretionary
$1.05B
Employees
5
Accounts
343
Address
805 BROADWAY ST.
SUITE 400
VANCOUVER, WA 98660
Phone
(503) 227-5778
Website
Name Title / Status Ownership Type
BAKER, BRIAN, CHRISTIAN ControlMEMBER
since Feb 2002
50–75%Individual
ELLIS, BARNES, CLELAND ControlMEMBER
since Jan 2021
50–75%Individual
Watson, Patricia, Anne ControlCCO, HEAD OF OPERATIONS
since Jan 2021
Less than 5%Individual
Ownership & leadership changes · 1 filing with changes since Jan 24, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Feb 19, 2021 filing
  • AddedWatson, Patricia, Anne · CCO, HEAD OF OPERATIONS · Less than 5% · control person
  • ChangedELLIS, BARNES, CLELAND · title MEMBER/CHIEF COMPLIANCE OFFICER → MEMBER
Jan 24, 2012 filing (earliest on record)
  • ListedBAKER, BRIAN, CHRISTIAN · MEMBER · 50–75% · control person
  • ListedELLIS, BARNES, CLELAND · MEMBER/CHIEF COMPLIANCE OFFICER · 50–75% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Baker Ellis Asset Management LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD INDEX FDS VTI 922908769 $80.8M 8.81% 215,891 SH
2 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $37.1M 4.05% 74,579 SH
3 LAM RESEARCH CORP LRCX 512807306 $32.6M 3.55% 99,085 SH
4 VANGUARD WORLD FD VGT 92204A702 $31.9M 3.47% 253,539 SH
5 MICROSOFT CORP MSFT 594918104 $29.5M 3.22% 57,583 SH
6 DIMENSIONAL ETF TRUST DISV 25434V781 $23.2M 2.53% 536,539 SH
7 STERLING INFRASTRUCTURE INC STRL 859241101 $23.1M 2.52% 47,062 SH
8 VANGUARD INDEX FDS VOO 922908363 $22.2M 2.43% 31,738 SH
9 VANGUARD WHITEHALL FDS VYM 921946406 $20.1M 2.19% 129,577 SH
10 GOLDMAN SACHS ETF TR GSIE 381430107 $18.8M 2.05% 409,758 SH
11 JPMORGAN CHASE & CO JPM 46625H100 $18.0M 1.97% 54,546 SH
12 ISHARES TR IXUS 46432F834 $17.7M 1.92% 185,841 SH
13 INVESCO EXCHANGE TRADED FD T PRF 46137V613 $17.2M 1.88% 316,149 SH
14 FIDELITY MERRIMACK STR TR FBND 316188309 $15.4M 1.68% 355,361 SH
15 PIMCO EQUITY SER MFUS 72202L363 $15.4M 1.68% 237,185 SH
16 APPLE INC AAPL 037833100 $15.0M 1.63% 45,008 SH
17 BROADCOM INC AVGO 11135F101 $13.9M 1.51% 39,525 SH
18 JOHN HANCOCK EXCHANGE TRADED JHMM 47804J206 $13.1M 1.43% 183,875 SH
19 SCHWAB STRATEGIC TR SCHD 808524797 $12.4M 1.35% 381,817 SH
20 COSTCO WHOLESALE CORPORATION COST 22160K105 $12.3M 1.34% 13,480 SH
21 ISHARES TR SGOV 46436E718 $11.7M 1.27% 115,968 SH
22 EXXONMOBIL HOLDINGS CORP XOM 30233Q108 $11.6M 1.27% 71,508 SH
23 ALPHABET INC GOOG 02079K107 $11.5M 1.25% 33,671 SH
24 RTX CORPORATION RTX 75513E101 $10.7M 1.17% 57,870 SH
25 ANALOG DEVICES INC ADI 032654105 $10.7M 1.16% 26,857 SH
26 ALPHABET INC GOOGL 02079K305 $10.5M 1.14% 30,406 SH
27 WISDOMTREE TR DGS 97717W281 $10.2M 1.11% 161,435 SH
28 VANGUARD WORLD FD MGC 921910873 $10.1M 1.10% 35,630 SH
29 BERKSHIRE HATHAWAY INC DEL BRK.A 084670108 $9.7M 1.06% 13 SH
30 AMAZON COM INC AMZN 023135106 $9.6M 1.05% 38,682 SH
31 TIMKEN CO TKR 887389104 $7.6M 0.83% 65,298 SH
32 OSHKOSH CORP OSK 688239201 $7.4M 0.81% 57,492 SH
33 SCHWAB STRATEGIC TR FNDX 808524771 $6.8M 0.74% 216,291 SH
34 KODIAK GAS SVCS INC KGS 50012A108 $6.8M 0.74% 127,574 SH
35 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $6.7M 0.73% 8,817 SH
36 ON SEMICONDUCTOR CORP ON 682189105 $6.5M 0.71% 84,906 SH
37 MID-AMER APT CMNTYS INC MAA 59522J103 $6.3M 0.69% 53,443 SH
38 MUELLER INDS INC MLI 624756102 $6.3M 0.68% 103,132 SH
39 GOLDMAN SACHS ETF TR GBIL 381430529 $5.9M 0.65% 59,138 SH
40 ISHARES TR ISTB 46432F859 $5.9M 0.64% 124,790 SH
41 LINDE PLC LIN G54950103 $5.9M 0.64% 12,387 SH
42 STRYKER CORPORATION SYK 863667101 $5.8M 0.63% 21,128 SH
43 CAPITAL ONE FINL CORP COF 14040H105 $5.6M 0.61% 29,115 SH
44 VANGUARD INTL EQUITY INDEX F VT 922042742 $5.6M 0.61% 35,577 SH
45 MOLSON COORS BEVERAGE CO TAP 60871R209 $5.5M 0.60% 149,945 SH
46 SLB LIMITED SLB 806857108 $5.3M 0.58% 109,050 SH
47 GARRETT MOTION INC GTX 366505105 $5.2M 0.57% 200,628 SH
48 PUBLIC STORAGE PSA 74460D109 $5.2M 0.57% 18,382 SH
49 EATON CORP PLC ETN G29183103 $5.1M 0.56% 11,854 SH
50 CARRIER GLOBAL CORPORATION CARR 14448C104 $4.8M 0.52% 86,908 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-14 $917.1M 252 0001941040-26-000741
2026-06-30 2026-07-23 $964.1M 265 0001941040-26-000444
2026-03-31 2026-04-17 $842.5M 254 0001941040-26-000226
2025-12-31 2026-01-21 $831.0M 260 0001941040-26-000040
Filer Information
Address
805 BROADWAY ST.
SUITE 400
VANCOUVER, WA 98660
Phone
(503) 227-5778
Filing Manager
Baker Ellis Asset Management LLC
Vancouver, WA
Signatory
Patricia Watson
Chief Compliance Officer