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MILESTONE ASSET MANAGEMENT, LLC — 13F Holdings & Portfolio

CIK 1964722 · latest 13F-HR filed 2026-10-15

Backtest portfolio

MILESTONE ASSET MANAGEMENT, LLC manages $631.3M in 13F-reported U.S. long-equity assets across 301 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are BUFR (6.26%), SGOV (4.90%), AAPL (4.67%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 18 new positions and exited 39; 66 existing positions rose in reported value and 99 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
$631.3M

Long-equity book

Holdings
301

Distinct positions

Period
2026-09-30

Filed 2026-10-15

Q/Q Activity
+18 / −39 / ↑66 / ↓99

vs 2026-06-30

Portfolio charts

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

Portfolio map

Q3 26
BUFR6.3% · +1%SGOV4.9% · +5%AAPL4.7% · +34%NVDA3.3% · +72%GOVT2.3% · +78%SHOP1.9% · +221%EXEL1.9% · +581%BUFD1.8% · -6%KR1.7% · newMO1.7% · +169%ANET1.7% · +168%FTNT1.6% · newEXPE1.4% · +180%GRNY1.4% · +193%UPS1.4% · newIVV1.2% · -45%MSTB1.2% · -10%BSCQ1.1% · +4%MBBA1.1% · newGMAY1.1% · +5%SYSB1.1% · -14%ACWX1.0% · +7%GAUG1.0% · +5%GNOV1.0% · +5%GFEB1.0% · +5%JEPQ1.0% · -20%GGOV1.0% · -12%JEPI1.0% · 0%BINC0.9% · -15%JNK0.9% · +390%BSJQ0.8% · +6%EFA0.8% · +361%MINT0.8% · +11%SCHD0.8% · +163%IVW0.8% · -31%KNG0.8% · +2%SPYI0.8% · +4%SCHG0.8% · -16%DYNF0.8% · -36%CORO0.8% · -12%MSFT0.7% · -13%UNH0.7% · +14%SPYV0.7% · -34%V0.7% · +7%SHV0.7% · +5%QQQ0.7% · -7%PLTR0.7% · -1%AMD0.6% · -5%CRWD0.6% · +274%QQQI0.6% · -4%BALT0.6% · -2%BOND0.5% · -1%SHW0.5% · newLLY0.5% · -58%CRM0.5% · +191%UDEC0.5% · -4%DIS0.5% · -11%ICVT0.5% · -17%TSLA0.5% · +1%XLV0.4% · +124%

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 = 30.5%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated May 12, 2026.

Assets Under Management
$877.6M
Discretionary
$796.4M
Employees
7
Accounts
1,264
Address
6702 STONEFIELD ROAD
SUITE 201
MIDDLETON, WI 53562
Phone
(608) 826-5730
Website
Name Title / Status Ownership Type
ARMSTRONG, ROBERT, GARLAND ControlMEMBER
since Jul 2013
25–50%Individual
KAUPER, DANIEL, PETER ControlMEMBER/CHEIF INFORMATION SECURITY OFFICER
since Mar 2017
25–50%Individual
MCCLAREY, ANGEL, CHOW ControlMEMBER/CHIEF COMPLIANCE OFFICER
since Mar 2017
25–50%Individual
Ownership & leadership changes · 2 filings with changes since Jul 8, 2013

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 9, 2017 filing
  • ChangedKAUPER, DANIEL, PETER · title MEMBER/CHIEF COMPLIANCE OFFICER → MEMBER/CHEIF INFORMATION SECURITY OFFICER
  • ChangedMCCLAREY, ANGEL, CHOW · title MEMBER → MEMBER/CHIEF COMPLIANCE OFFICER
Dec 26, 2013 filing
  • AddedMCCLAREY, ANGEL, CHOW · MEMBER · 25–50% · control person
  • ChangedARMSTRONG, ROBERT, GARLAND · ownership 50–75% → 25–50%
  • ChangedKAUPER, DANIEL, PETER · ownership 50–75% → 25–50%
Jul 8, 2013 filing (earliest on record)
  • ListedARMSTRONG, ROBERT, GARLAND · MEMBER · 50–75% · control person
  • ListedKAUPER, DANIEL, PETER · 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.

Top Adds (vs prior quarter)

Show all 66 →

Top Trims

Show all 99 →

New Positions

Show all 18 →

Exited Positions

Show all 39 →

MILESTONE 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 FIRST TR EXCHNG TRADED FD VI BUFR 33740F755 $39.5M 6.26% 1,054,646 SH
2 ISHARES TR SGOV 46436E718 $30.9M 4.90% 307,206 SH
3 APPLE INC AAPL 037833100 $29.5M 4.67% 88,582 SH
4 NVIDIA CORPORATION NVDA 67066G104 $21.0M 3.32% 91,903 SH
5 ISHARES TR GOVT 46429B267 $14.5M 2.29% 660,867 SH
6 SHOPIFY INC SHOP 82509L107 $12.2M 1.93% 81,973 SH
7 EXELIXIS INC EXEL 30161Q104 $11.7M 1.85% 200,127 SH
8 FIRST TR EXCHNG TRADED FD VI BUFD 33740U703 $11.3M 1.79% 372,462 SH
9 KROGER CO KR 501044101 $10.9M 1.73% 186,351 SH
10 ALTRIA GROUP INC MO 02209S103 $10.7M 1.70% 159,590 SH
11 ARISTA NETWORKS INC ANET 040413205 $10.7M 1.70% 52,774 SH
12 FORTINET INC FTNT 34959E109 $10.3M 1.63% 57,519 SH
13 EXPEDIA GROUP INC EXPE 30212P303 $8.9M 1.41% 33,734 SH
14 TIDAL TRUST I GRNY 886364231 $8.9M 1.40% 318,534 SH
15 UNITED PARCEL SVCS INC UPS 911312106 $8.8M 1.39% 93,777 SH
16 ISHARES TR IVV 464287200 $7.9M 1.24% 10,255 SH
17 ETF SER SOLUTIONS MSTB 26922B105 $7.4M 1.17% 167,885 SH
18 INVESCO EXCH TRD SLF IDX FD BSCQ 46138J791 $7.2M 1.15% 371,135 SH
19 BLACKROCK ETF TRUST II MBBA 092528793 $6.9M 1.10% 147,484 SH
20 FIRST TR EXCHNG TRADED FD VI GMAY 33740F441 $6.9M 1.09% 156,493 SH
21 ISHARES TR SYSB 46435U796 $6.8M 1.08% 81,002 SH
22 ISHARES TR ACWX 464288240 $6.6M 1.04% 87,212 SH
23 FIRST TR EXCHNG TRADED FD VI GAUG 33740U653 $6.6M 1.04% 156,345 SH
24 FIRST TR EXCHNG TRADED FD VI GNOV 33740U687 $6.5M 1.02% 151,027 SH
25 FIRST TR EXCHNG TRADED FD VI GFEB 33740U737 $6.5M 1.02% 143,392 SH
26 J P MORGAN EXCHANGE TRADED F JEPQ 46654Q203 $6.2M 0.99% 101,946 SH
27 BLACKROCK ETF TRUST II GGOV 092528835 $6.2M 0.98% 123,518 SH
28 J P MORGAN EXCHANGE TRADED F JEPI 46641Q332 $6.0M 0.96% 107,269 SH
29 BLACKROCK ETF TRUST II BINC 092528603 $5.7M 0.90% 112,417 SH
30 SPDR SERIES TRUST JNK 78468R622 $5.4M 0.86% 58,557 SH
31 INVESCO EXCH TRD SLF IDX FD BSJQ 46138J635 $5.4M 0.85% 234,772 SH
32 ISHARES TR EFA 464287465 $5.4M 0.85% 51,519 SH
33 PIMCO ETF TR MINT 72201R833 $5.3M 0.84% 52,849 SH
34 SCHWAB STRATEGIC TR SCHD 808524797 $5.3M 0.84% 162,920 SH
35 ISHARES TR IVW 464287309 $5.3M 0.83% 36,994 SH
36 FIRST TR EXCHANGE-TRADED FD KNG 33739Q705 $5.2M 0.83% 108,800 SH
37 NEOS ETF TRUST SPYI 78433H303 $5.1M 0.81% 96,105 SH
38 SCHWAB STRATEGIC TR SCHG 808524300 $5.1M 0.80% 140,706 SH
39 BLACKROCK ETF TRUST DYNF 09290C103 $5.0M 0.79% 72,206 SH
40 BLACKROCK ETF TRUST CORO 09290C764 $4.8M 0.76% 131,353 SH
41 MICROSOFT CORP MSFT 594918104 $4.6M 0.73% 8,990 SH
42 UNITEDHEALTH GROUP INC UNH 91324P102 $4.6M 0.73% 12,477 SH
43 SPDR SERIES TRUST SPYV 78464A508 $4.5M 0.71% 72,981 SH
44 VISA INC V 92826C839 $4.4M 0.69% 12,172 SH
45 ISHARES TR SHV 464288679 $4.2M 0.67% 38,213 SH
46 INVESCO QQQ TR QQQ 46090E103 $4.2M 0.66% 5,661 SH
47 PALANTIR TECHNOLOGIES INC PLTR 69608A108 $4.1M 0.66% 22,171 SH
48 ADVANCED MICRO DEVICES INC AMD 007903107 $4.0M 0.64% 6,578 SH
49 CROWDSTRIKE HLDGS INC CRWD 22788C105 $3.9M 0.62% 14,785 SH
50 NEOS ETF TRUST QQQI 78433H675 $3.7M 0.58% 66,186 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-15 $631.3M 301 0001964722-26-000005
2026-06-30 2026-07-15 $636.0M 330 0001964722-26-000003
2026-03-31 2026-04-15 $542.5M 291 0001964722-26-000002
2025-12-31 2026-01-28 $530.1M 269 0001964722-26-000001
Filer Information
Address
8160 PERRY HWY
PITTSBURGH, PA 15237
Phone
(412) 643-3058
Filing Manager
MILESTONE ASSET MANAGEMENT, LLC
PITTSBURGH, PA
Signatory
Walter J. West
Member & Managing Partner