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Colorado Capital Management, Inc. — 13F Holdings & Portfolio

CIK 1664147 · latest 13F-HR filed 2026-10-15

Backtest portfolio

Colorado Capital Management, Inc. manages $290.5M in 13F-reported U.S. long-equity assets across 100 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are USSG (7.45%), DFAI (6.09%), MGC (6.06%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 4 new positions and exited 5; 19 existing positions rose in reported value and 24 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
$290.5M

Long-equity book

Holdings
100

Distinct positions

Period
2026-09-30

Filed 2026-10-15

Q/Q Activity
+4 / −5 / ↑19 / ↓24

vs 2026-06-30

Portfolio charts

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

Portfolio map

Q3 26
USSG7.5% · +2%DFAI6.1% · +1%MGC6.1% · +0%DFAE4.0% · +6%GOOG3.8% · 0%VTIP3.8% · +2%AAPL3.7% · -1%DFAS3.7% · +1%NUEM3.6% · +0%MGV3.1% · +4%SPY2.5% · -9%SUSB2.4% · +5%VGSR2.3% · +2%VO2.2% · -1%IWF2.2% · +4%DFUV2.1% · -2%NUSC2.1% · -6%CHGX1.8% · -2%DFGR1.7% · +4%MGK1.7% · +2%HYXF1.6% · +4%SUSC1.6% · +3%BSV1.5% · +15%IFLN1.5% · +3%IUSG1.4% · -0%MDY1.4% · -13%FTSL1.3% · +2%NUBD1.2% · +5%IWD1.2% · -5%QQQ0.8% · -16%SHOP0.7% · 0%GOOGL0.7% · +3%VNQ0.7% · -1%GISC0.7% · newSCHM0.7% · -6%BRK.B0.6% · -0%EEM0.6% · -16%NUDM0.6% · +1%AMZN0.5% · +4%IJR0.5% · -22%SCHX0.5% · +6%PRF0.5% · 0%NVDA0.5% · +5%VTV0.5% · +42%SUSA0.5% · -5%SCHD0.4% · -2%SCHB0.4% · +0%VSS0.4% · 0%RSP0.4% · 0%MSFT0.4% · -29%SCHG0.4% · +0%ACGR0.4% · -0%IVV0.4% · -5%PG0.4% · -1%IWM0.4% · -6%NULG0.4% · -3%DGRW0.4% · 0%XOM0.3% · -0%QCLN0.3% · -0%AVDS0.3% · +2%

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 = 45.3%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Feb 17, 2026.

Assets Under Management
$638.4M
Discretionary
$569.9M
Employees
10
Accounts
1,014
Address
4430 ARAPAHOE AVENUE
SUITE 120
BOULDER, CO 80303-1100
Phone
(303) 444-9300
Website
Name Title / Status Ownership Type
ELLIS, STEVEN, LLOYD ControlVICE PRESIDENT
since Feb 2000
50–75%Individual
STRONGWATER, LEE, MICHAEL ControlPRESIDENT, CHIEF COMPLIANCE OFFICER
since Mar 2010
25–50%Individual
BLACK, JASON, GREGARYSHAREHOLDER
since Jan 2022
10–25%Individual
GILSON, ANDREW, KEITHSHAREHOLDER
since Jan 2022
Less than 5%Individual
LUCERO, EMILY, JEANSHAREHOLDER
since Jan 2024
Less than 5%Individual
Loughrey, Erica, NicoleSHAREHOLDER
since Jan 2022
Less than 5%Individual
Pulitzer, Max, BrandonSHAREHOLDER
since Jan 2022
Less than 5%Individual
Ownership & leadership changes · 7 filings with changes since Mar 22, 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 6, 2025 filing
  • AddedLUCERO, EMILY, JEAN · SHAREHOLDER · Less than 5%
  • ChangedELLIS, STEVEN, LLOYD · title PRESIDENT, CHIEF COMPLIANCE OFFICER → VICE PRESIDENT
  • ChangedSTRONGWATER, LEE, MICHAEL · title VICE PRESIDENT → PRESIDENT, CHIEF COMPLIANCE OFFICER
Jul 8, 2022 filing
  • No longer listedKRYSZAK, RANDALL, L. · SHAREHOLDER · Less than 5% · listed since May 2018
  • AddedBLACK, JASON, GREGARY · SHAREHOLDER · 10–25%
  • AddedGILSON, ANDREW, KEITH · SHAREHOLDER · Less than 5%
  • AddedLoughrey, Erica, Nicole · SHAREHOLDER · Less than 5%
  • AddedPulitzer, Max, Brandon · SHAREHOLDER · Less than 5%
Nov 21, 2018 filing
  • AddedKRYSZAK, RANDALL, L. · SHAREHOLDER · Less than 5%
  • ChangedELLIS, STEVEN, LLOYD · ownership 75% or more → 50–75%
  • ChangedSTRONGWATER, LEE, MICHAEL · ownership 10–25% → 25–50%
Aug 29, 2018 filing
  • No longer listedROEBER, KIRSTEN, ELIZABETH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jan 2017
  • ChangedELLIS, STEVEN, LLOYD · title PRESIDENT → PRESIDENT, CHIEF COMPLIANCE OFFICER
Feb 14, 2017 filing
  • AddedROEBER, KIRSTEN, ELIZABETH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedELLIS, STEVEN, LLOYD · title PRESIDENT/CCO → PRESIDENT
Mar 25, 2015 filing
  • ChangedELLIS, STEVEN, LLOYD · title PRESIDENT/CHIEF COMPLIANCE OFFICER → PRESIDENT/CCO
  • ChangedSTRONGWATER, LEE, MICHAEL · ownership Less than 5% → 10–25%
Sep 11, 2014 filing
  • No longer listedNICHOLSON, HENRY, MELVILLE · VICE PRESIDENT · 10–25% · control person · listed since Oct 2006
Mar 22, 2012 filing (earliest on record)
  • ListedELLIS, STEVEN, LLOYD · PRESIDENT/CHIEF COMPLIANCE OFFICER · 75% or more · control person
  • ListedNICHOLSON, HENRY, MELVILLE · VICE PRESIDENT · 10–25% · control person
  • ListedSTRONGWATER, LEE, MICHAEL · VICE PRESIDENT · 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)

Show all 19 →

Top Trims

Show all 24 →

New Positions

Show all 4 →

Exited Positions

Show all 5 →

Colorado Capital Management, Inc. 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 DBX ETF TR USSG 233051150 $21.6M 7.45% 303,625 SH
2 DIMENSIONAL ETF TRUST DFAI 25434V203 $17.7M 6.09% 426,875 SH
3 VANGUARD WORLD FD MGC 921910873 $17.6M 6.06% 62,358 SH
4 DIMENSIONAL ETF TRUST DFAE 25434V302 $11.5M 3.96% 292,347 SH
5 ALPHABET INC GOOG 02079K107 $11.0M 3.79% 32,328 SH
6 VANGUARD MALVERN FDS VTIP 922020805 $10.9M 3.75% 221,634 SH
7 APPLE INC AAPL 037833100 $10.9M 3.74% 32,666 SH
8 DIMENSIONAL ETF TRUST DFAS 25434V500 $10.8M 3.71% 139,355 SH
9 NUSHARES ETF TR NUEM 67092P888 $10.4M 3.59% 245,166 SH
10 VANGUARD WORLD FD MGV 921910840 $9.1M 3.13% 56,458 SH
11 SPDR S&P 500 ETF TR SPY 78462F103 $7.3M 2.51% 9,571 SH
12 ISHARES TR SUSB 46435G243 $6.9M 2.36% 280,562 SH
13 MANAGER DIRECTED PORTFOLIOS VGSR 56170L695 $6.5M 2.25% 616,426 SH
14 VANGUARD INDEX FDS VO 922908629 $6.4M 2.21% 81,837 SH
15 ISHARES TR IWF 464287614 $6.3M 2.16% 49,993 SH
16 DIMENSIONAL ETF TRUST DFUV 25434V724 $6.1M 2.11% 111,202 SH
17 NUSHARES ETF TR NUSC 67092P607 $6.1M 2.09% 125,287 SH
18 EA SERIES TRUST CHGX 02072L151 $5.1M 1.76% 155,106 SH
19 DIMENSIONAL ETF TRUST DFGR 25434V658 $5.0M 1.71% 183,343 SH
20 VANGUARD WORLD FD MGK 921910816 $4.8M 1.65% 51,881 SH
21 ISHARES TR HYXF 46435G441 $4.7M 1.63% 104,737 SH
22 ISHARES TR SUSC 46435G193 $4.6M 1.59% 209,926 SH
23 VANGUARD BD INDEX FD INC BSV 921937827 $4.4M 1.51% 57,298 SH
24 INVESCO EXCH TRADED FD TR II IFLN 46138E719 $4.3M 1.49% 247,570 SH
25 ISHARES TR IUSG 464287671 $4.1M 1.40% 21,034 SH
26 STATE STR SPDR S&P MIDCAP 40 MDY 78467Y107 $4.0M 1.39% 6,152 SH
27 FIRST TR EXCHANGE TRADED FD FTSL 33738D309 $3.9M 1.34% 87,654 SH
28 NUSHARES ETF TR NUBD 67092P870 $3.6M 1.24% 169,926 SH
29 ISHARES TR IWD 464287598 $3.5M 1.22% 14,268 SH
30 INVESCO QQQ TR QQQ 46090E103 $2.3M 0.79% 3,089 SH
31 SHOPIFY INC SHOP 82509L107 $2.2M 0.74% 14,550 SH
32 ALPHABET INC GOOGL 02079K305 $2.1M 0.73% 6,194 SH
33 VANGUARD INDEX FDS VNQ 922908553 $2.1M 0.73% 23,581 SH
34 CLAYMORE EXCHANGE TRD FD TR GISC 18383Q507 $2.0M 0.70% 32,832 SH
35 SCHWAB STRATEGIC TR SCHM 808524508 $1.9M 0.67% 56,943 SH
36 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $1.8M 0.62% 3,627 SH
37 ISHARES TR EEM 464287234 $1.8M 0.62% 26,831 SH
38 NUSHARES ETF TR NUDM 67092P805 $1.6M 0.56% 40,608 SH
39 AMAZON COM INC AMZN 023135106 $1.5M 0.53% 6,153 SH
40 ISHARES TR IJR 464287804 $1.5M 0.53% 11,244 SH
41 SCHWAB STRATEGIC TR SCHX 808524201 $1.5M 0.53% 50,855 SH
42 INVESCO EXCHANGE TRADED FD T PRF 46137V613 $1.5M 0.51% 27,045 SH
43 NVIDIA CORPORATION NVDA 67066G104 $1.4M 0.48% 6,061 SH
44 VANGUARD INDEX FDS VTV 922908744 $1.4M 0.47% 6,366 SH
45 ISHARES TR SUSA 464288802 $1.4M 0.47% 8,905 SH
46 SCHWAB STRATEGIC TR SCHD 808524797 $1.3M 0.44% 39,514 SH
47 SCHWAB STRATEGIC TR SCHB 808524102 $1.3M 0.44% 43,798 SH
48 VANGUARD INTL EQUITY INDEX F VSS 922042718 $1.3M 0.44% 8,195 SH
49 INVESCO EXCHANGE TRADED FD T RSP 46137V357 $1.3M 0.43% 6,069 SH
50 MICROSOFT CORP MSFT 594918104 $1.2M 0.41% 2,319 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-15 $290.5M 100 0001664147-26-000005
2026-06-30 2026-07-08 $293.1M 101 0001664147-26-000003
2026-03-31 2026-04-14 $268.2M 105 0001664147-26-000002
2025-12-31 2026-01-23 $266.4M 105 0001664147-26-000001
Filer Information
Address
4430 ARAPAHOE AVE. STE 120
BOULDER, CO 80303
Phone
(303) 444-9300
Filing Manager
Colorado Capital Management, Inc.
BOULDER, CO
Signatory
Andy Gilson
Operations Manager