STERLING INVESTMENT MANAGEMENT, LLC

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CIK 1509873

13F portfolio (2026-Q1)

$167M

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

Top 5

34.8%

Top 10

53.4%

Effective N

24.8

HHI

0.040

This quarter

6 new · 0 exit →

By sector

Unclassified38.9%

Industrials16.9%

Financials12.6%

Information Technology10.4%

Communication Services4.7%

Consumer Staples4.3%

Materials4.3%

Health Care2.5%

Other5.4%

By market cap

Unknown43.9%

Mega (>$200B)30.8%

Large ($10–200B)24.5%

Mid ($2–10B)0.8%

By region

North America58.9%

Other38.9%

Europe2.3%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	46.30%	25
Commercial Services & Supplies	16.19%	5
Electrical Equipment & Components	4.45%	1
Software & IT Services	4.10%	1
Software	3.94%	2
Beverages	3.80%	3
Metals & Mining	3.12%	2
Road & Rail	2.54%	2
Pharmaceuticals & Biotechnology	2.53%	3
Specialty Retail	2.40%	2
Technology Hardware & Equipment	1.89%	2
Equity Real Estate Investment Trusts (REITs)	1.38%	3
Aerospace & Defense	1.38%	2
Paper & Forest Products	0.99%	1
Banks	0.93%	2
Oil, Gas & Consumable Fuels	0.83%	2
Real Estate Management & Development	0.77%	1
Construction & Engineering	0.75%	1
Diversified Telecommunication Services	0.60%	1
Tobacco	0.51%	1
Capital Markets	0.29%	1
Semiconductors & Semiconductor Equipment	0.18%	1
Chemicals	0.16%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VMBS	VANGUARD SCOTTSDALE FDS	Unclassified	9.26%
2	GLD	SPDR GOLD TR	Unclassified	8.50%
3	BRK.B	BERKSHIRE HATHAWAY INC	Financials	7.44%
4	SPGI	S&P Global Inc.	Industrials	5.12%
5	GE	GENERAL ELECTRIC CO	Information Technology	4.45%
6	MCO	MOODYS CORP /DE/	Industrials	4.22%
7	GOOG	Alphabet Inc.	Communication Services	4.10%
8	V	VISA INC.	Financials	3.94%
9	MSFT	MICROSOFT CORP	Information Technology	3.31%
10	AMLP	ALPS ETF TR	Unclassified	3.09%

41/65 names classified · sector 61.1% of weight · industry 53.7% · mkt cap 56.1%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 52 quarters

FinancialsBRK.B, BAC, ELV, V, PYPL · other

Information TechnologyMSFT, AAPL, CSCO, QCOM, GE · other

Communication ServicesGOOG, CMCSA, CHTR, VZ, DIS · other

Consumer StaplesMO, PM, BUD, CVS, PEP · other

IndustrialsCNI, SPGI, CP, MCO, BABA · other

Health CarePFE, JNJ, ABBV, BMY, TEVA · other

EnergyOXY, CVX, EOG, XOM, BP · other

Consumer DiscretionaryWMT, MCD, AMZN, EZPW, JD · other

Real EstateCCI, WY, AVB, BXP, JOE · other

MaterialsCCJ, FCX, NKE, RIO, KMB · other

Utilities

UnclassifiedBIL, SCHO, VGSH, BKLN, POWERSHARES ETF TRUST II · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 61.1% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 46% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (33 classified)STERLING INVESTMENT MANAGEMENT, LLC centroid (Large Core)

IndustrialsInformation TechnologyFinancialsCommunication ServicesConsumer StaplesHealth CareConsumer DiscretionaryReal EstateMaterialsEnergy

Style box summary for STERLING INVESTMENT MANAGEMENT, LLC: centroid Large Core. Heaviest cells: Large Growth 25.6%, Large Core 10.3%, Large Value 6.6%.

Classified: 46.1% of book weight (33/65 names) · unclassified 53.9%: VMBS, GLD, BRK.B, AMLP, BRK.A, BSV, CP, CCJ, VBIL, BIV +22 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 65 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	VMBSVANGUARD SCOTTSDALE FDS	328,670	$15M	9.3%	HOLD
2	GLDSPDR GOLD TR	32,944	$14M	8.5%	TRIM −4%
3	BRK.BBERKSHIRE HATHAWAY INC DEL	25,880	$12M	7.4%	TRIM −13%
4	SPGIS&P GLOBAL INC	20,083	$9M	5.1%	ADD 52%
5	GEGE AEROSPACE	26,119	$7M	4.4%	HOLD
6	MCOMOODYS CORP	16,126	$7M	4.2%	ADD 48%
7	GOOGALPHABET INC	23,823	$7M	4.1%	HOLD
8	VVISA INC	21,759	$7M	3.9%	ADD 22%
9	MSFTMICROSOFT CORP	14,929	$6M	3.3%	ADD 3%
10	AMLPALPS ETF TR	97,997	$5M	3.1%	TRIM −3%
11	PEPPEPSICO INC	33,191	$5M	3.1%	HOLD
12	BRK.ABERKSHIRE HATHAWAY INC DEL	7	$5M	3.0%	HOLD
13	BSVVANGUARD BD INDEX FDS	53,881	$4M	2.5%	TRIM −4%
14	CPCANADIAN PACIFIC KANSAS CITY	50,337	$4M	2.4%	HOLD
15	WMTWALMART INC	30,541	$4M	2.3%	TRIM −2%
16	CCJCAMECO CORP	34,114	$4M	2.2%	HOLD
17	WMWASTE MGMT INC DEL	14,764	$3M	2.0%	ADD 128%
18	VBILVANGUARD INSTL INDEX FD	38,428	$3M	1.7%	TRIM −3%
19	BIVVANGUARD BD INDEX FDS	37,602	$3M	1.7%	HOLD
20	JNJJOHNSON & JOHNSON	10,969	$3M	1.6%	TRIM −3%
21	AAPLAPPLE INC	9,353	$2M	1.4%	HOLD
22	BNDXVANGUARD CHARLOTTE FDS	45,120	$2M	1.3%	HOLD
23	SCHZSCHWAB STRATEGIC TR	91,116	$2M	1.3%	ADD 6%
24	BABOEING CO	10,457	$2M	1.2%	TRIM −2%
25	VTIVANGUARD INDEX FDS	6,084	$2M	1.2%	ADD 238%
26	VWOVANGUARD INTL EQUITY INDEX F	32,062	$2M	1.0%	TRIM −3%
27	KMBKIMBERLY-CLARK CORP	17,114	$2M	1.0%	HOLD
28	RIORIO TINTO PLC	15,969	$1M	0.9%	TRIM −2%
29	VEAVANGUARD TAX-MANAGED FDS	23,234	$1M	0.9%	TRIM −2%
30	UBERUBER TECHNOLOGIES INC	20,176	$1M	0.9%	NEW
31	JOEST JOE CO	20,338	$1M	0.8%	TRIM −2%
32	FERFERROVIAL SE	19,210	$1M	0.7%	TRIM −3%
33	CVXCHEVRON CORP NEW	5,724	$1M	0.7%	HOLD
34	SAPSAP SE	6,092	$1M	0.6%	TRIM −2%
35	SCHDSCHWAB STRATEGIC TR	33,370	$1M	0.6%	HOLD
36	VZVERIZON COMMUNICATIONS INC	19,834	$995,667	0.6%	HOLD
37	PFEPFIZER INC	35,137	$986,647	0.6%	HOLD
38	KOFCOCA-COLA FEMSA SAB DE CV	9,959	$971,500	0.6%	HOLD
39	TFCTRUIST FINL CORP	19,693	$905,287	0.5%	HOLD
40	XLKSELECT SECTOR SPDR TR	6,348	$843,649	0.5%	HOLD
41	MOALTRIA GROUP INC	12,766	$842,428	0.5%	TRIM −6%
42	PSAPUBLIC STORAGE OPER CO	2,967	$803,701	0.5%	HOLD
43	AVBAVALONBAY CMNTYS INC	4,823	$787,837	0.5%	HOLD
44	DHRDANAHER CORP DEL	4,063	$770,345	0.5%	HOLD
45	BLVVANGUARD BD INDEX FDS	10,468	$719,989	0.4%	HOLD
46	VICIVICI PPTYS INC	25,890	$707,315	0.4%	HOLD
47	SCHFSCHWAB STRATEGIC TR	26,297	$650,841	0.4%	HOLD
48	JPMJPMORGAN CHASE & CO	2,198	$646,564	0.4%	ADD 57%
49	ABBVABBVIE INC	2,540	$552,425	0.3%	TRIM −74%
50	GSGOLDMAN SACHS GROUP INC	574	$485,598	0.3%	TRIM −81%
51	IJRISHARES TR	3,132	$389,339	0.2%	HOLD
52	XLFSELECT SECTOR SPDR TR	6,725	$332,013	0.2%	HOLD
53	FDLFirst Trust Morningstar Div Leaders ETF	5,800	$294,640	0.2%	HOLD
54	SCHESCHWAB STRATEGIC TR	8,897	$293,156	0.2%	HOLD
55	NVDANVIDIA CORPORATION	1,677	$292,477	0.2%	ADD 12%
56	CNICANADIAN NATL RY CO	2,722	$279,740	0.2%	TRIM −91%
57	PGPROCTER AND GAMBLE CO	1,800	$259,992	0.2%	TRIM −7%
58	XLYSELECT SECTOR SPDR TR	2,385	$259,917	0.2%	HOLD
59	VTVVANGUARD INDEX FDS	1,256	$246,427	0.1%	NEW
60	XLCSELECT SECTOR SPDR TR	2,216	$245,666	0.1%	HOLD
61	HONHONEYWELL INTL INC	955	$215,859	0.1%	NEW
62	XLISELECT SECTOR SPDR TR	1,315	$212,675	0.1%	TRIM −2%
63	AMZNAMAZON COM INC	990	$206,187	0.1%	NEW
64	VLOVALERO ENERGY CORP	834	$206,010	0.1%	NEW
65	KOCOCA COLA CO	2,680	$203,814	0.1%	NEW

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

VMBSVANGUARD SCOTTSDALE FDS

47K

228K

230K

324K

326K

329K

$15M

GLDSPDR GOLD TR

37K

36K

35K

34K

33K

$14M

BRK.BBERKSHIRE HATHAWAY INC DEL

34K

33K

30K

26K

$12M

SPGIS&P GLOBAL INC

12K

13K

20K

$9M

GEGE AEROSPACE

13K

17K

18K

26K

$7M

MCOMOODYS CORP

11K

16K

$7M

GOOGALPHABET INC

26K

27K

23K

24K

$7M

VVISA INC

11K

12K

18K

22K

$7M

MSFTMICROSOFT CORP

14K

15K

$6M

AMLPALPS ETF TR

31K

48K

66K

101K

98K

$5M

PEPPEPSICO INC

—

21K

34K

33K

$5M

BRK/ABERKSHIRE HATHAWAY INC DEL

$5M

BSVVANGUARD BD INDEX FDS

56K

59K

56K

55K

56K

54K

$4M

CPCANADIAN PACIFIC KANSAS CITY

50K

59K

58K

52K

51K

50K

$4M

WMTWALMART INC

32K

31K

32K

31K

$4M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

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