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MARSHALL INVESTMENT MANAGEMENT, LLC — 13F Holdings & Portfolio

CIK 2022427 · latest 13F-HR filed 2026-08-14

Backtest portfolio

MARSHALL INVESTMENT MANAGEMENT, LLC manages $240.8M in 13F-reported U.S. long-equity assets across 497 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are GLD (7.31%), MFUS (5.14%), XMHQ (4.49%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 255 new positions and exited 32; 159 existing positions rose in reported value and 42 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
$240.8M

Long-equity book

Holdings
497

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+255 / −32 / ↑159 / ↓42

vs 2026-03-31

Portfolio charts

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

Portfolio map

Q2 26
GLD7.3% · +2%MFUS5.1% · -5%XMHQ4.5% · newBRK.B4.2% · +1%MSFT3.4% · +9%AMZN3.4% · +6%AAPL2.8% · +22%FFLG2.8% · -5%CRWD2.7% · +4%FELV2.7% · -5%GOOG2.4% · +2%JPM2.4% · +8%RDVY2.4% · -2%NVDA2.3% · +4%TSM2.3% · +5%SOXQ2.2% · +12%FTHF2.1% · -5%AIRR2.1% · +9%LLY2.1% · +7%MFSB1.9% · -1%FLXR1.7% · -0%WMT1.5% · +9%DUK1.5% · +7%VZ1.3% · +6%XAR1.3% · +11%FV1.3% · -11%AMGN1.3% · +8%FPEI1.2% · -2%LIT1.2% · +13%FDL1.1% · -9%FVD1.1% · -1%JNJ1.1% · +5%NLR1.1% · +46%XLI1.1% · +43%TDIV1.1% · +6%PAVE1.0% · -4%XSMO1.0% · -5%FTCS0.9% · -0%EIPX0.9% · +30%NBOS0.8% · newQQEW0.8% · -2%GRID0.8% · +0%ARKW0.8% · -2%SDVY0.7% · -3%SPY0.7% · -16%VOO0.6% · -10%FTXH0.6% · -16%RDVI0.5% · +85%ARKX0.5% · -4%XME0.5% · +21%PICK0.5% · +3304%FTQI0.4% · +84%JHMM0.4% · -6%FTHI0.4% · +107%KO0.3% · +371%MPLX0.3% · 0%JGRO0.2% · +9%WEC0.2% · +7%VUG0.2% · +373%SCHG0.2% · 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

Q1 26 → Q2 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

3 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 = 39%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 6, 2025.

Assets Under Management
$866.4M
Discretionary
$865.1M
Employees
20
Accounts
1,579
Address
33 WEST COURT STREET
DOYLESTOWN, PA 18901
Phone
(215) 348-9393
Website
Name Title / Status Ownership Type
CAIRNS, DANIEL, DAVID ControlCHIEF FINANCIAL OFFICER / CHIEF COMPLIANCE OFFICER / TREASURER / SECRETARY
since Sep 2002
Less than 5%Individual
EVANS, GEORGE, EC ControlDIRECTOR
since Feb 2020
Less than 5%Individual
KURTZ, MARTIN, FLOYD ControlDIRECTOR
since Jul 2018
Less than 5%Individual
MAIER, JOHN, MICHAEL ControlTRUSTEE OF THE MARSHALL FINANCIAL GROUP EMPLOYEE STOCK OWNERSHIP TRUST
since Sep 2017
75% or moreIndividual
NANGLE, PAULA, COOPER ControlPRESIDENT/CHIEF EXECUTIVE OFFICER/DIRECTOR
since Oct 2016
Less than 5%Individual
REINERT, ADAM, JOSEPH ControlCHIEF OPERATIONS OFFICER / CHIEF INVESTMENT OFFICER
since Jan 2019
Less than 5%Individual
SCHOLZ, DONALD, ROBERT ControlVICE PRESIDENT
since Jul 2005
Less than 5%Individual
THE MARSHALL FINANCIAL GROUP, INC. EMPLOYEE STOCK OWNERSHIP TRUST ControlSHAREHOLDER
since Oct 2017
75% or moreDomestic Entity
WEISS, RUSSELL, STEWART ControlCHIEF PLANNING OFFICER
since Jan 2019
Less than 5%Individual
Ownership & leadership changes · 7 filings with changes since Feb 27, 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 4, 2020 filing
  • AddedEVANS, GEORGE, EC · DIRECTOR · Less than 5% · control person
Jan 9, 2020 filing
  • No longer listedMARSHALL, WILLIAM, LAWRENCE · CHIEF EXECUTIVE OFFICER / DIRECTOR · Less than 5% · control person · listed since Apr 2011
  • ChangedNANGLE, PAULA, COOPER · title PRESIDENT / DIRECTOR → PRESIDENT/CHIEF EXECUTIVE OFFICER/DIRECTOR
Feb 28, 2019 filing
  • AddedKURTZ, MARTIN, FLOYD · DIRECTOR · Less than 5% · control person
  • AddedREINERT, ADAM, JOSEPH · CHIEF OPERATIONS OFFICER / CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • AddedWEISS, RUSSELL, STEWART · CHIEF PLANNING OFFICER · Less than 5% · control person
  • ChangedMARSHALL, WILLIAM, LAWRENCE · title CHIEF EXECUTIVE OFFICER AND DIRECTOR → CHIEF EXECUTIVE OFFICER / DIRECTOR
  • ChangedNANGLE, PAULA, COOPER · title PRESIDENT AND DIRECTOR → PRESIDENT / DIRECTOR
  • ChangedSCHOLZ, DONALD, ROBERT · title VICE PRESIDENT / CHIEF INVESTMENT OFFICER → VICE PRESIDENT
Nov 13, 2017 filing
  • No longer listedPRICE, BRIAN, ROBERT · TRUSTEE OF WILLIAM L. MARSHALL TRUST U/D OF EDWARD R. MARSHALL · 10–25% · listed since Oct 1996
  • No longer listedWILLIAM L. MARSHALL TRUST U/D OF EDWARD R. MARSHALL · SHAREHOLDER · 10–25% · listed since Jul 2016
  • No longer listedWILLIAM L. MARSHALL TRUST U/D OF WILLIAM L. MARSHALL · SHAREHOLDER · 75% or more · control person · listed since Jul 2016
  • AddedMAIER, JOHN, MICHAEL · TRUSTEE OF THE MARSHALL FINANCIAL GROUP EMPLOYEE STOCK OWNERSHIP TRUST · 75% or more · control person
  • AddedTHE MARSHALL FINANCIAL GROUP, INC. EMPLOYEE STOCK OWNERSHIP TRUST · SHAREHOLDER · 75% or more · control person
  • ChangedCAIRNS, DANIEL, DAVID · title CHIEF FINANCIAL OFFICER / TREASURER / SECRETARY → CHIEF FINANCIAL OFFICER / CHIEF COMPLIANCE OFFICER / TREASURER / SECRETARY
  • ChangedMARSHALL, WILLIAM, LAWRENCE · title CHIEF COMPLIANCE OFFICER / CHIEF EXECUTIVE OFFICER / TRUSTEE OF WILLIAM L. MARSHALL TRUST U/D OF EDWARD R. MARSHALL / TRUSTEE OF WILLIAM L. MARSHALL TRUST U/D OF WILLIAM L. MARSHALL → CHIEF EXECUTIVE OFFICER AND DIRECTOR; ownership 75% or more → Less than 5%
  • ChangedNANGLE, PAULA, COOPER · title PRESIDENT → PRESIDENT AND DIRECTOR
Apr 26, 2017 filing
  • No longer listedMARSHALL, WILLIAM, LAWRENCE · TRUSTEE · 75% or more · indirect via WILLIAM L. MARSHALL LIVING TRUST · control person · listed since Feb 1980
  • No longer listedTHE EDWARD R. MARSHALL TRUST FBO WILLIAM L. MARSHALL · OWNER · 5–10% · listed since Jul 2016
  • No longer listedWILLIAM L. MARSHALL LIVING TRUST · OWNER · 75% or more · indirect via WILLIAM L. MARSHALL LIVING TRUST · control person · listed since Jul 2016
  • AddedWILLIAM L. MARSHALL TRUST U/D OF EDWARD R. MARSHALL · SHAREHOLDER · 10–25%
  • AddedWILLIAM L. MARSHALL TRUST U/D OF WILLIAM L. MARSHALL · SHAREHOLDER · 75% or more · control person
  • ChangedMARSHALL, WILLIAM, LAWRENCE · title CHIEF COMPLIANCE OFFICER / CHIEF EXECUTIVE OFFICER / TRUSTEE → CHIEF COMPLIANCE OFFICER / CHIEF EXECUTIVE OFFICER / TRUSTEE OF WILLIAM L. MARSHALL TRUST U/D OF EDWARD R. MARSHALL / TRUSTEE OF WILLIAM L. MARSHALL TRUST U/D OF WILLIAM L. MARSHALL
  • ChangedPRICE, BRIAN, ROBERT · title TRUSTEE → TRUSTEE OF WILLIAM L. MARSHALL TRUST U/D OF EDWARD R. MARSHALL; ownership 5–10% → 10–25%
Dec 1, 2016 filing
  • No longer listedROBINSON, JEANNE, ANN · PRESIDENT / CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Apr 2011
  • AddedNANGLE, PAULA, COOPER · PRESIDENT · Less than 5% · control person
Sep 6, 2016 filing
  • No longer listedMARSHALL, WILLIAM, LAWRENCE · DIRECTOR · 75% or more · indirect via WM. L. MARSHALL COMPANIES, INC. · control person · listed since May 1981
  • No longer listedWM. L. MARSHALL COMPANIES, INC. · OWNER · 75% or more · control person · listed since May 1981
  • AddedMARSHALL, WILLIAM, LAWRENCE · TRUSTEE · 75% or more · indirect via WILLIAM L. MARSHALL LIVING TRUST · control person
  • AddedPRICE, BRIAN, ROBERT · TRUSTEE · 5–10%
  • AddedTHE EDWARD R. MARSHALL TRUST FBO WILLIAM L. MARSHALL · OWNER · 5–10%
  • AddedWILLIAM L. MARSHALL LIVING TRUST · OWNER · 75% or more · indirect via WILLIAM L. MARSHALL LIVING TRUST · control person
  • ChangedCAIRNS, DANIEL, DAVID · title CHIEF FINANCIAL OFFICER → CHIEF FINANCIAL OFFICER / TREASURER / SECRETARY
  • ChangedMARSHALL, WILLIAM, LAWRENCE · title DIRECTOR → CHIEF COMPLIANCE OFFICER / CHIEF EXECUTIVE OFFICER / TRUSTEE; ownership Less than 5% → 75% or more
  • ChangedROBINSON, JEANNE, ANN · title CEO / PRESIDENT / CHIEF OPERATING OFFICER / CHIEF COMPLIANCE OFFICER → PRESIDENT / CHIEF OPERATING OFFICER
Feb 27, 2012 filing (earliest on record)
  • ListedCAIRNS, DANIEL, DAVID · CHIEF FINANCIAL OFFICER · Less than 5% · control person
  • ListedMARSHALL, WILLIAM, LAWRENCE · DIRECTOR · Less than 5% · control person
  • ListedMARSHALL, WILLIAM, LAWRENCE · DIRECTOR · 75% or more · indirect via WM. L. MARSHALL COMPANIES, INC. · control person
  • ListedROBINSON, JEANNE, ANN · CEO / PRESIDENT / CHIEF OPERATING OFFICER / CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedSCHOLZ, DONALD, ROBERT · VICE PRESIDENT / CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • ListedWM. L. MARSHALL COMPANIES, INC. · OWNER · 75% or more · 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 159 →

Top Trims

Show all 42 →

New Positions

Show all 255 →

Exited Positions

Show all 32 →

MARSHALL INVESTMENT MANAGEMENT, LLC 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 SPDR GOLD GLD 78463V107 $17.6M 7.31% 47,749 SH
2 PIMCO RAFI MFUS 72202L363 $12.4M 5.14% 184,309 SH
3 INVESCO S&P XMHQ 46137V472 $10.8M 4.49% 95,805 SH
4 BERKSHIRE HATHAWAY BRK.B 084670702 $10.1M 4.20% 20,218 SH
5 MICROSOFT CORP MSFT 594918104 $8.2M 3.40% 21,931 SH
6 AMAZON COM AMZN 023135106 $8.1M 3.38% 34,118 SH
7 APPLE INC AAPL 037833100 $6.9M 2.85% 23,705 SH
8 FIDELITY FUNDAMENTAL FFLG 316092337 $6.9M 2.85% 197,558 SH
9 CROWDSTRIKE HOLDINGS CRWD 22788C105 $6.6M 2.73% 8,621 SH
10 FIDELITY ENHANCED FELV 31609A107 $6.4M 2.66% 159,753 SH
11 ALPHABET INC GOOG 02079K107 $5.9M 2.44% 16,629 SH
12 JPMORGAN CHASE JPM 46625H100 $5.8M 2.40% 17,670 SH
13 FIRST TRUST RDVY 33738R506 $5.8M 2.40% 71,292 SH
14 NVIDIA CORP NVDA 67066G104 $5.6M 2.31% 27,849 SH
15 TAIWAN SEMICONDUCTOR TSM 874039100 $5.6M 2.31% 11,665 SH
16 INVESCO PHLX SOXQ 46138G615 $5.3M 2.21% 47,555 SH
17 FIRST TRUST FTHF 33734X747 $5.1M 2.13% 103,032 SH
18 FIRST TRUST AIRR 33738R704 $5.1M 2.12% 38,381 SH
19 ELI LILLY LLY 532457108 $5.1M 2.10% 4,220 SH
20 MFS ACTIVE MFSB 55286W108 $4.5M 1.86% 179,667 SH
21 TCW FLEXIBLE FLXR 29287L700 $4.0M 1.65% 101,483 SH
22 WALMART INC WMT 931142103 $3.7M 1.54% 32,814 SH
23 DUKE ENERGY DUK 26441C204 $3.6M 1.49% 28,395 SH
24 VERIZON COMMUNICATIONS VZ 92343V104 $3.2M 1.32% 74,924 SH
25 STATE STREER XAR 78464A631 $3.1M 1.31% 11,089 SH
26 FIRST TRUST FV 33738R605 $3.0M 1.26% 40,124 SH
27 AMGEN INC AMGN 031162100 $3.0M 1.26% 8,386 SH
28 FIRST TRUST FPEI 33739P855 $3.0M 1.24% 155,197 SH
29 GLOBAL X LIT 37954Y855 $2.8M 1.15% 35,398 SH
30 FIRST TRUST FDL 336917109 $2.8M 1.14% 56,522 SH
31 FIRST TRUST FVD 33734H106 $2.7M 1.12% 55,922 SH
32 JOHNSON & JOHNSON JNJ 478160104 $2.7M 1.11% 10,479 SH
33 VANECK URANIUM NLR 92189F601 $2.6M 1.10% 22,810 SH
34 STATE STREET XLI 81369Y704 $2.6M 1.07% 13,852 SH
35 FIRST TRUST TDIV 33738R118 $2.6M 1.06% 22,198 SH
36 GLOBAL X PAVE 37954Y673 $2.5M 1.03% 42,268 SH
37 INVESCO S&P XSMO 46137V498 $2.3M 0.97% 24,849 SH
38 FIRST TRUST FTCS 33733E104 $2.3M 0.94% 24,076 SH
39 FIRST TRUST EIPX 33739Q804 $2.1M 0.86% 65,788 SH
40 NEUBERGER OPTION NBOS 64135A705 $2.0M 0.84% 71,901 SH
41 FIRST TRUST QQEW 337344105 $2.0M 0.84% 12,620 SH
42 FIRST TRUST GRID 33737A108 $1.9M 0.77% 9,704 SH
43 ARK NEXT ARKW 00214Q401 $1.9M 0.77% 12,808 SH
44 FIRST TRUST SDVY 33741X102 $1.8M 0.74% 41,554 SH
45 STATE STREET SPY 78462F103 $1.7M 0.71% 2,284 SH
46 VANGUARD S&P VOO 922908363 $1.5M 0.62% 2,158 SH
47 FIRST TRUST FTXH 33738R837 $1.5M 0.60% 38,080 SH
48 FIRST TRUST RDVI 33738D879 $1.2M 0.52% 42,431 SH
49 ARK SPACE ARKX 00214Q807 $1.2M 0.51% 36,265 SH
50 STATE STREET XME 78464A755 $1.2M 0.48% 10,790 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $240.8M 497 0001420506-26-001782
2026-03-31 2026-05-08 $208.5M 274 0001420506-26-000857
2025-12-31 2026-02-09 $199.1M 76 0001420506-26-000223
Filer Information
Address
10822 WEST TOLLER DRIVE
SUITE 195
LITTLETON, CO 80127
Phone
(303) 991-6415
Filing Manager
MARSHALL INVESTMENT MANAGEMENT, LLC
LITTLETON, CO
Signatory
Lindsay Marie Rider
Compliance Consultant