BTC Capital Management, Inc. — 13F Holdings & Portfolio
CIK 1611848 · latest 13F-HR filed 2026-07-16
BTC Capital Management, Inc. manages $1.65B in 13F-reported U.S. long-equity assets across 508 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NVDA (2.76%), BND (2.60%), AAPL (2.49%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 12 new positions and exited 12; 133 existing positions rose in reported value and 36 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
$1.65B
Long-equity book
Holdings
508
Distinct positions
Period
2026-06-30
Filed 2026-07-16
Q/Q Activity
+12 / −12 / ↑133 / ↓36
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26NVDA4.7% · +3%BND4.4% · +6%AAPL4.3% · +2%MSFT3.9% · +14%GOOGL3.8% · -12%EFA3.4% · +5%IWF2.7% · +307%AVGO2.6% · -7%AMZN2.5% · +10%IWB2.0% · +14%VUG2.0% · +490%META1.7% · +3%IWD1.7% · +16%WMT1.6% · -4%IWM1.5% · +3%JPM1.4% · -4%CRWD1.4% · -21%XOM1.4% · -5%VWO1.3% · +2%IVV1.2% · -1%ABBV1.2% · +2%JNJ1.1% · -2%STX1.0% · -27%MU1.0% · newVOO1.0% · -1%PG1.0% · +12%MS1.0% · -21%LLY1.0% · +7%TJX1.0% · -6%VTI1.0% · 0%TSLA0.9% · +31%PH0.9% · +96%GILD0.9% · +1%STLD0.9% · -16%DE0.8% · +17%MA0.8% · +1%MUB0.8% · +18%OUT0.8% · +107%FAST0.8% · -6%ORLY0.7% · -0%NSC0.7% · +2%VTV0.7% · -4%ETN0.7% · -1%NEE0.7% · +2%APH0.7% · +3%WFC0.6% · -16%JAZZ0.6% · -0%QQQ0.6% · -0%GS0.6% · +4%PLD0.6% · +1%UNM0.6% · +2%MAR0.5% · -1%SPY0.5% · 0%HD0.5% · +2%LOW0.5% · +19%BIL0.5% · +4%LHX0.5% · +0%IVW0.5% · -0%SPGI0.5% · +10%XEL0.5% · -7%
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 valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated 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
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 34.3%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Mar 23, 2026.
Assets Under Management
$4.60B
Discretionary
$3.21B
Employees
17
Accounts
2,199
Address
453 7TH STREET
DES MOINES, IA 50309-3702
DES MOINES, IA 50309-3702
Phone
(515) 245-5638
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| AUGUSTINE, JON, KENT Control | CHIEF INVESTMENT OFFICER since Nov 2009 | Less than 5% | Individual |
| BTC FINANCIAL CORPORATION Control | SHAREHOLDER since May 2003 | 75% or more | Domestic Entity |
| Chorniak, Kevin, Lee Control | CHIEF OPERATING OFFICER since Jan 2019 | Less than 5% | Individual |
| Coffin, Donald, James Control | CHAIRMAN, DIRECTOR since Jan 2018 | Less than 5% | Individual |
| ELTJES, SCOTT, DEAN Control | PRESIDENT AND CEO since Feb 2009 | Less than 5% | Individual |
| Hansen, Clinton, Lee Control | CHIEF FINANCIAL OFFICER since Jan 2026 | Less than 5% | Individual |
| Hartema, Brett, Marvin Control | SECRETARY / TREASURER since Apr 2025 | Less than 5% | Individual |
| Larsen, Robert, Paul Control | CHIEF COMPLIANCE OFFICER since Aug 2020 | Less than 5% | Individual |
| MANDZIARA, MARK, PAUL Control | SENIOR MANAGING DIRECTOR since Jul 2003 | Less than 5% | Individual |
| THE RUAN BTC TRUST; CURRENT TRUSTEE: JOHN RUAN IV Control Indirect owner via BTC FINANCIAL CORPORATION | SHAREHOLDER since Dec 2004 | 75% or more | Domestic Entity |
Ownership & leadership changes · 12 filings with changes since Mar 6, 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.
Mar 23, 2026 filing
- No longer listedALBERTSON, KERMIT, JOHN · SECRETARY/TREASURER · Less than 5% · control person · listed since May 2003
- No longer listedMumm, Ricky, Lee · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Jun 2019
- AddedHansen, Clinton, Lee · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- AddedHartema, Brett, Marvin · SECRETARY / TREASURER · Less than 5% · control person
Mar 14, 2025 filing
- No longer listedJOHN RUAN 1993 TRUST U/A/D APRIL 2, 2002, JOHN RUAN, SETTLOR; CURRENT TRUSTEE: JOHN RUAN IV · SHAREHOLDER · 75% or more · indirect via BTC FINANCIAL CORPORATION · control person · listed since Mar 2002
- AddedTHE RUAN BTC TRUST; CURRENT TRUSTEE: JOHN RUAN IV · SHAREHOLDER · 75% or more · indirect via BTC FINANCIAL CORPORATION · control person
Mar 27, 2024 filing
- No longer listedTHE RUAN BTC TRUST · SHAREHOLDER · 75% or more · indirect via BTC FINANCIAL CORPORATION · control person · listed since Dec 2004
- AddedJOHN RUAN 1993 TRUST U/A/D APRIL 2, 2002, JOHN RUAN, SETTLOR; CURRENT TRUSTEE: JOHN RUAN IV · SHAREHOLDER · 75% or more · indirect via BTC FINANCIAL CORPORATION · control person
Nov 2, 2023 filing
- No longer listedJOHN RUAN 1993 REVOCABLE TRUST, FORMED UNDER AGREEMENT DATED APRIL 2, 2002 BY JOHN RUAN AS SETTLOR. CURRENT TRUSTEE: JOHN RUAN · CONTROL PERSON · 25–50% · indirect via BTC FINANCIAL CORPORATION · control person · listed since Mar 2002
- AddedTHE RUAN BTC TRUST · SHAREHOLDER · 75% or more · indirect via BTC FINANCIAL CORPORATION · control person
Mar 30, 2021 filing
- AddedChorniak, Kevin, Lee · CHIEF OPERATING OFFICER · Less than 5% · control person
Aug 14, 2020 filing
- No longer listedLEIBOLD, CHARLES, HOWARD · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jan 2017
- AddedLarsen, Robert, Paul · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Mar 17, 2020 filing
- AddedMumm, Ricky, Lee · CHIEF FINANCIAL OFFICER · Less than 5% · control person
Mar 15, 2018 filing
- No longer listedRADIA, SUKU, NMN · CHAIRMAN, DIRECTOR · Less than 5% · control person · listed since Apr 2009
- AddedCoffin, Donald, James · CHAIRMAN, DIRECTOR · Less than 5% · control person
Mar 17, 2017 filing
- No longer listedELIZABETH J. RUAN REVOCABLE TRUST, FORMED 12/20/1991 BY ELIZABETH J. RUAN, SETTLOR. TRUSTEES: JOHN RUAN III & STEVEN E. ZUMBACH · CONTROL PERSON · 25–50% · indirect via BTC FINANCIAL CORPORATION · control person · listed since Mar 2002
Jan 23, 2017 filing
- No longer listedLEPLEY, JOHN, RANDALL · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Feb 2007
- AddedLEIBOLD, CHARLES, HOWARD · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Older changes (3 more filings)
Jul 8, 2015 filing
- ChangedAUGUSTINE, JON, KENT · title VICE PRESIDENT/CHIEF INVESTMENT OFFICER → CHIEF INVESTMENT OFFICER
- ChangedMANDZIARA, MARK, PAUL · title SENIOR MANAGING DIRECTOR/BOARD MEMBER → SENIOR MANAGING DIRECTOR
Jul 1, 2015 filing
- No longer listedBTC FINANCIAL CORPORATION · CONTROL PERSON · 75% or more · indirect via MIDAMERICA FINANCIAL CORPORATION · control person · listed since May 2003
- No longer listedMIDAMERICA FINANCIAL CORPORATION · SHAREHOLDER · 75% or more · control person · listed since May 2003
- AddedBTC FINANCIAL CORPORATION · SHAREHOLDER · 75% or more · control person
Mar 6, 2012 filing (earliest on record)
- ListedALBERTSON, KERMIT, JOHN · SECRETARY/TREASURER · Less than 5% · control person
- ListedAUGUSTINE, JON, KENT · VICE PRESIDENT/CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ListedBTC FINANCIAL CORPORATION · CONTROL PERSON · 75% or more · indirect via MIDAMERICA FINANCIAL CORPORATION · control person
- ListedELIZABETH J. RUAN REVOCABLE TRUST, FORMED 12/20/1991 BY ELIZABETH J. RUAN, SETTLOR. TRUSTEES: JOHN RUAN III & STEVEN E. ZUMBACH · CONTROL PERSON · 25–50% · indirect via BTC FINANCIAL CORPORATION · control person
- ListedELTJES, SCOTT, DEAN · PRESIDENT AND CEO · Less than 5% · control person
- ListedJOHN RUAN 1993 REVOCABLE TRUST, FORMED UNDER AGREEMENT DATED APRIL 2, 2002 BY JOHN RUAN AS SETTLOR. CURRENT TRUSTEE: JOHN RUAN · CONTROL PERSON · 25–50% · indirect via BTC FINANCIAL CORPORATION · control person
- ListedLEPLEY, JOHN, RANDALL · CHIEF COMPLIANCE OFFICER · Less than 5%
- ListedMANDZIARA, MARK, PAUL · SENIOR MANAGING DIRECTOR/BOARD MEMBER · Less than 5% · control person
- ListedMIDAMERICA FINANCIAL CORPORATION · SHAREHOLDER · 75% or more · control person
- ListedRADIA, SUKU, NMN · CHAIRMAN, DIRECTOR · Less than 5% · 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.
Top Adds (vs prior quarter)
- NVIDIA CORPORATION$11.8M +18.2%
- APPLE INC$10.2M +16.7%
- AMAZON COM INC$8.7M +26.2%
- MICROSOFT CORP$8.5M +15.2%
- PARKER-HANNIFIN CORP$8.3M +114.3%
Top Trims
- INTUIT-$8.1M -95.1%
- UNIVERSAL HLTH SVCS INC-$7.8M -95.1%
- EXXON MOBIL CORP-$7.2M -23.6%
- ADOBE INC-$5.7M -94.9%
- OTIS WORLDWIDE CORP-$4.8M -90.3%
New Positions
- MICRON TECHNOLOGY INC$17.0M
- ADVANCED MICRO DEVICES INC$7.4M
- UNITEDHEALTH GROUP INC$6.5M
- VALERO ENERGY CORP$6.3M
- MICROCHIP TECHNOLOGY INC.$2.9M
Exited Positions
- HONEYWELL INTL INC$6.0M
- LEIDOS HOLDINGS INC$5.3M
- COTERRA ENERGY INC$5.3M
- BOSTON SCIENTIFIC CORP$5.3M
- SS&C TECH HLDGS$5.0M
BTC Capital Management, Inc. Holdings (2026-06-30)
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 | NVIDIA CORPORATION | NVDA | 67066G104 | $45.4M | 2.76% | 226,979 | SH |
| 2 | VANGUARD BD INDEX FDS | BND | 921937835 | $42.8M | 2.60% | 583,090 | SH |
| 3 | APPLE INC | AAPL | 037833100 | $41.0M | 2.49% | 141,215 | SH |
| 4 | ALPHABET INC | GOOGL | 02079K305 | $37.6M | 2.28% | 104,851 | SH |
| 5 | ISHARES TR | EFA | 464287465 | $36.3M | 2.20% | 349,017 | SH |
| 6 | MICROSOFT CORP | MSFT | 594918104 | $34.1M | 2.07% | 91,152 | SH |
| 7 | AMAZON COM INC | AMZN | 023135106 | $24.8M | 1.51% | 104,013 | SH |
| 8 | ISHARES TR | IWF | 464287614 | $24.4M | 1.48% | 196,007 | SH |
| 9 | BROADCOM INC | AVGO | 11135F101 | $23.9M | 1.45% | 63,405 | SH |
| 10 | VANGUARD BD INDEX FDS | BND | 921937835 | $23.7M | 1.44% | 322,804 | SH |
| 11 | ISHARES TR | IWB | 464287622 | $23.5M | 1.43% | 57,391 | SH |
| 12 | APPLE INC | AAPL | 037833100 | $20.2M | 1.23% | 69,766 | SH |
| 13 | NVIDIA CORPORATION | NVDA | 67066G104 | $20.0M | 1.21% | 99,984 | SH |
| 14 | MICROSOFT CORP | MSFT | 594918104 | $19.5M | 1.19% | 52,363 | SH |
| 15 | VANGUARD INDEX FDS | VOO | 922908363 | $17.0M | 1.03% | 24,772 | SH |
| 16 | VANGUARD INDEX FDS | VUG | 922908736 | $16.5M | 1.00% | 191,865 | SH |
| 17 | ALPHABET INC | GOOGL | 02079K305 | $16.2M | 0.99% | 45,449 | SH |
| 18 | ISHARES TR | IWD | 464287598 | $16.0M | 0.97% | 66,086 | SH |
| 19 | VANGUARD INDEX FDS | VUG | 922908736 | $15.8M | 0.96% | 183,726 | SH |
| 20 | VANGUARD INDEX FDS | VTI | 922908769 | $15.7M | 0.95% | 42,408 | SH |
| 21 | CROWDSTRIKE HLDGS INC | CRWD | 22788C105 | $13.8M | 0.84% | 18,025 | SH |
| 22 | META PLATFORMS INC | META | 30303M102 | $13.7M | 0.83% | 24,365 | SH |
| 23 | WALMART INC | WMT | 931142103 | $13.6M | 0.82% | 119,525 | SH |
| 24 | ISHARES TR | IWM | 464287655 | $13.4M | 0.81% | 44,532 | SH |
| 25 | VANGUARD INTL EQUITY INDEX F | VWO | 922042858 | $13.1M | 0.79% | 219,320 | SH |
| 26 | ISHARES TR | EFA | 464287465 | $12.8M | 0.77% | 122,808 | SH |
| 27 | ISHARES TR | IWF | 464287614 | $12.7M | 0.77% | 102,600 | SH |
| 28 | FASTENAL CO | FAST | 311900104 | $12.5M | 0.76% | 260,880 | SH |
| 29 | JPMORGAN CHASE & CO | JPM | 46625H100 | $12.3M | 0.75% | 37,607 | SH |
| 30 | BROADCOM INC | AVGO | 11135F101 | $12.3M | 0.74% | 32,435 | SH |
| 31 | EXXON MOBIL CORP | XOM | 30231G102 | $11.8M | 0.72% | 86,211 | SH |
| 32 | NVIDIA CORPORATION | NVDA | 67066G104 | $11.3M | 0.68% | 56,306 | SH |
| 33 | VANGUARD INDEX FDS | VTV | 922908744 | $11.0M | 0.67% | 50,516 | SH |
| 34 | ISHARES TR | IVV | 464287200 | $11.0M | 0.67% | 14,692 | SH |
| 35 | MICROSOFT CORP | MSFT | 594918104 | $10.9M | 0.66% | 29,246 | SH |
| 36 | AMAZON COM INC | AMZN | 023135106 | $10.8M | 0.65% | 45,187 | SH |
| 37 | META PLATFORMS INC | META | 30303M102 | $10.4M | 0.63% | 18,468 | SH |
| 38 | APPLE INC | AAPL | 037833100 | $10.0M | 0.60% | 34,388 | SH |
| 39 | ELI LILLY & CO | LLY | 532457108 | $9.7M | 0.59% | 8,067 | SH |
| 40 | JOHNSON & JOHNSON | JNJ | 478160104 | $9.5M | 0.58% | 37,384 | SH |
| 41 | INVESCO QQQ TR | QQQ | 46090E103 | $9.4M | 0.57% | 12,800 | SH |
| 42 | TESLA INC | TSLA | 88160R101 | $9.3M | 0.57% | 22,170 | SH |
| 43 | ABBVIE INC | ABBV | 00287Y109 | $9.3M | 0.56% | 36,917 | SH |
| 44 | PARKER-HANNIFIN CORP | PH | 701094104 | $9.2M | 0.56% | 9,374 | SH |
| 45 | WELLS FARGO & CO | WFC | 949746101 | $8.9M | 0.54% | 107,841 | SH |
| 46 | ISHARES TR | IVV | 464287200 | $8.9M | 0.54% | 11,856 | SH |
| 47 | MORGAN STANLEY | MS | 617446448 | $8.9M | 0.54% | 42,471 | SH |
| 48 | ISHARES TR | MUB | 464288414 | $8.5M | 0.52% | 79,128 | SH |
| 49 | ALPHABET INC | GOOGL | 02079K305 | $8.5M | 0.52% | 23,767 | SH |
| 50 | MASTERCARD INCORPORATED | MA | 57636Q104 | $8.3M | 0.50% | 16,156 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-16 | $1.65B | 508 | 0001611848-26-000009 |
| 2026-03-31 | 2026-04-20 | $1.48B | 530 | 0001611848-26-000007 |
| 2025-12-31 | 2026-01-15 | $1.43B | 523 | 0001611848-26-000003 |
Filer Information
Address
453 7TH STREETDES MOINES, IA 50309
Phone
(515) 245-2447
Filing Manager
BTC Capital Management, Inc.
DES MOINES, IA
Signatory
Paul Larsen
Chief Compliance Officer