Freestone Capital Holdings, LLC

RIA/Wealth

Freestone Capital Holdings, LLC is a RIA/Wealth based in Richmond, VA led by Bonnie Mills Smallwood, managing $3.3B across 525 long positions as of Q3 2025 with 41% ETF concentration.

PartnerBonnie Mills Smallwood

Portfolio Value: $3.3B
Positions: 525
Top Holding: IVV at 13.58%
Last Reported: Q3 2025

Address4120 W. Broad Street, Richmond, VA, 23230, United States

Top Holdings

Largest long holdings in Freestone Capital Holdings, LLC's portfolio (46.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$442.6M	13.58%	+$6.1M Bought	— 661.3K shares	Q3 2019 Held for 6y 2m
2 Microsoft MSFT	Software - Infrastructure Technology	$220.7M	6.77%	+$5.7M Bought	0.01% 426.0K shares	≤ Q2 2013 Held for 12y 5m+
3 Vanguard FTSE Developed Markets VEA	ETF ETF	$164.9M	5.06%	+$2.7M Bought	— 2.8M shares	Q3 2015 Held for 10y 2m
4 Nvidia NVDA	Semiconductors Technology	$148.2M	4.55%	-$33.6M Sold	0.00% 794.4K shares	Q3 2017 Held for 8y 2m
5 Apple AAPL	Consumer Electronics Technology	$133.7M	4.10%	+$9.6M Bought	0.00% 525.0K shares	≤ Q2 2013 Held for 12y 5m+
6 SPDR S&P 500 ETF Trust SPY	ETF ETF	$94.3M	2.89%	-$1.5M Sold	— 141.6K shares	Q3 2015 Held for 10y 2m
7 Amazon AMZN	Specialty Retail Consumer Cyclical	$83.4M	2.56%	-$1.1M Sold	0.00% 379.8K shares	Q4 2015 Held for 9y 11m
8 iShares Core U.S. Aggregate Bond AGG	ETF ETF	$77.3M	2.37%	+$7.8M Bought	— 770.7K shares	Q1 2017 Held for 8y 8m
9 Vanguard Short-Term Bond BSV	ETF ETF	$74.3M	2.28%	+$1.6M Bought	— 941.4K shares	Q1 2017 Held for 8y 8m
10 Vanguard FTSE Emerging Markets VWO	ETF ETF	$69.5M	2.13%	+$885.2K Bought	— 1.3M shares	Q3 2015 Held for 10y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Freestone Capital Holdings, LLC's latest filing

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Market Value

$3.3B

Prior: $2.9B

Q/Q Change

+10.84%

+$318.9M

Net Flows % of MV

+2.05%

Turnover Ratio

4.29%

New Purchases

49 stocks

$34.3M

Added To

231 stocks

+$117.8M

Sold Out Of

20 stocks

$9.1M

Reduced Holdings

135 stocks

-$76.3M

Increased Positions

Position	Shares Δ	Change
1 FlexShares iBoxx 3-Year Target Duration TIPS Index Fund TDTT	New	0 → 101.6K +$2.5M
2 ANGL VanEck Fallen Angel High Yield Bond ANGL	New	0 → 82.0K +$2.4M
3 iShares 3-7 Year Treasury Bond IEI	New	0 → 16.9K +$2.0M
4 Viking Therapeutics VKTX	New	0 → 66.4K +$1.7M
5 Crescent Energy CRGY	New	0 → 190.0K +$1.7M

Decreased Positions

Position	Shares Δ	Change
1 Aptiv APTV	Sold	38.6K → 0 −$2.6M
2 Fiserv FI	Sold	8.9K → 0 −$1.5M
3 Redfin Corporation RDFN	Sold	94.4K → 0 −$1.1M
4 iShares Short Treasury Bond SHV	Sold	4.0K → 0 −$441.9K
5 lululemon athletica LULU	Sold	1.7K → 0 −$404.4K

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Analytics

Portfolio insights and performance metrics for Freestone Capital Holdings, LLC

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Sector Allocation

ETF

41.10%

Technology

24.40%

Consumer Cyclical

6.60%

Financial Services

6.30%

Communication Services

5.10%

Healthcare

5.00%

Industrials

3.60%

Consumer Defensive

2.90%

Energy

1.50%

Basic Materials

0.80%

Utilities

0.60%

Real Estate

0.40%

Market Cap Distribution

Mega Cap (> $200B)

39.79%

Large Cap ($10B - $200B)

16.31%

Mid Cap ($2B - $10B)

0.87%

Small Cap ($300M - $2B)

0.56%

Micro Cap ($50M - $300M)

0.05%

Nano Cap (< $50M)

0.06%

N/A (ETF or Unknown)

42.36%

Portfolio Concentration

Top 10 Holdings %

46.29%

Top 20 Holdings %

58.97%

Top 50 Holdings %

74.2%

Top 100 Holdings %

85.53%