13F HOLDINGS REPORT

Paragon Capital Management Ltd

Quarter ended Q4 2025 · Filed January 22, 2026 · Accession 0001569765-26-000001

Total Value

$502.4M

Positions

195

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (195)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD SPECIALIZED FUNDS	921908844	308,695	$67.8M	13.50%
2	INVESCO EXCHANGE TRADED FD T	IVZ	732,231	$55.0M	10.94%
3	AIRBNB INC	ABNB	363,431	$49.3M	9.82%
4	ISHARES TR	46434V456	608,979	$27.7M	5.51%
5	MICROSOFT CORP	MSFT	56,795	$27.5M	5.47%
6	COINBASE GLOBAL INC	COIN	119,286	$27.0M	5.37%
7	PACER FDS TR	69374H881	423,400	$25.5M	5.07%
8	GMO ETF TRUST	90139K100	389,124	$15.0M	2.98%
9	DIGITALOCEAN HLDGS INC	DOCN	307,842	$14.8M	2.95%
10	SALESFORCE INC	CRM	52,139	$13.8M	2.75%
11	PINTEREST INC	PINS	481,906	$12.5M	2.48%
12	OKTA INC	OKTA	124,200	$10.7M	2.14%
13	PATHWARD FINANCIAL INC	CASH	0	$10.3M	2.05%
14	SPDR S&P 500 ETF TR	SPY	12,757	$8.7M	1.73%
15	FRANKLIN TEMPLETON ETF TR	FGDL	223,815	$7.7M	1.53%
16	VANGUARD INDEX FDS	922908744	35,260	$6.7M	1.34%
17	ISHARES TR	464287465	65,414	$6.3M	1.25%
18	LYFT INC	LYFT	283,742	$5.5M	1.09%
19	VANGUARD WORLD FD	921910733	44,739	$5.4M	1.08%
20	APPLE INC	AAPL	13,722	$3.7M	0.74%
21	SPDR SERIES TRUST	78464A300	36,084	$3.3M	0.65%
22	SAMSARA INC	IOT	83,389	$3.0M	0.59%
23	POET TECHNOLOGIES INC	POET	465,720	$2.9M	0.59%
24	PROSHARES TR	74348A467	26,621	$2.8M	0.55%
25	VANGUARD MUN BD FDS	922907746	53,369	$2.7M	0.53%
26	AMERICAN CENTY ETF TR	025072877	24,383	$2.5M	0.49%
27	ISHARES INC	46434G822	26,365	$2.1M	0.42%
28	VANGUARD INDEX FDS	922908512	11,941	$2.1M	0.42%
29	VANGUARD WORLD FD	921910725	27,260	$2.0M	0.39%
30	ISHARES TR	464288661	16,188	$1.9M	0.38%
31	VANGUARD MUN BD FDS	922907738	17,562	$1.8M	0.35%
32	VANGUARD INDEX FDS	922908611	8,335	$1.8M	0.35%
33	ELI LILLY & CO	LLY	1,428	$1.5M	0.31%
34	ISHARES TR	46432F842	17,067	$1.5M	0.30%
35	ABBVIE INC	ABBV	6,672	$1.5M	0.30%
36	ROBLOX CORP	RBLX	18,588	$1.5M	0.30%
37	ORACLE CORP	ORCL-PD	7,357	$1.4M	0.29%
38	INTERNATIONAL BUSINESS MACHS	INTR	4,607	$1.4M	0.27%
39	WALMART INC	WMT	12,211	$1.4M	0.27%
40	TEXAS INSTRS INC	882508104	7,509	$1.3M	0.26%
41	ASANA INC	ASAN	94,152	$1.3M	0.26%
42	VANGUARD INTL EQUITY INDEX F	922042718	8,658	$1.2M	0.25%
43	PROCTER AND GAMBLE CO	742718109	8,659	$1.2M	0.25%
44	BROOKFIELD RENEWABLE CORP	BEPC	32,339	$1.2M	0.25%
45	ENERGY TRANSFER L P	ET-PI	68,724	$1.1M	0.23%
46	VANGUARD TAX-MANAGED FDS	921943858	16,625	$1.0M	0.21%
47	ROBINHOOD MKTS INC	770700102	9,129	$1.0M	0.21%
48	SPDR S&P MIDCAP 400 ETF TR	MDY	1,700	$1.0M	0.20%
49	DOORDASH INC	DASH	4,390	$994,247	0.20%
50	JPMORGAN CHASE & CO.	VYLD	2,954	$951,948	0.19%
51	ISHARES TR	464287598	4,204	$884,321	0.18%
52	AMGEN INC	AMGN	2,620	$857,552	0.17%
53	NVIDIA CORPORATION	NVDA	4,534	$845,708	0.17%
54	AFFIRM HLDGS INC	AFRM	10,770	$801,611	0.16%
55	HONEYWELL INTL INC	438516106	3,979	$776,263	0.15%
56	CISCO SYS INC	CSCO	9,880	$761,102	0.15%
57	REDDIT INC	RDDT	3,094	$711,218	0.14%
58	CHEVRON CORP NEW	CVX	4,550	$693,515	0.14%
59	INVESCO EXCH TRADED FD TR II	IVZ	11,785	$672,876	0.13%
60	ABBOTT LABS	ABLZF	5,360	$671,614	0.13%
61	SPDR GOLD TR	GLD	1,664	$659,460	0.13%
62	BROADCOM INC	AVGO	1,883	$651,874	0.13%
63	DOMINOS PIZZA INC	DPZ	1,557	$648,989	0.13%
64	PFIZER INC	PFE	25,254	$628,829	0.13%
65	JOHNSON & JOHNSON	JNJ	2,976	$616,055	0.12%
66	AMAZON COM INC	AMZN	2,621	$604,979	0.12%
67	MAPLEBEAR INC	CART	12,740	$573,045	0.11%
68	SSGA ACTIVE ETF TR	78467V848	13,961	$561,949	0.11%
69	DEVON ENERGY CORP NEW	25179M103	14,852	$544,029	0.11%
70	MOLSON COORS BEVERAGE CO	TAP-A	11,379	$531,186	0.11%
71	COCA COLA CO	KO	7,477	$522,778	0.10%
72	BROOKFIELD INFRASTRUCTURE CO	BIPC	11,404	$517,742	0.10%
73	MCDONALDS CORP	MCD	1,673	$511,427	0.10%
74	MERCK & CO INC	MRK	4,837	$509,175	0.10%
75	COMCAST CORP NEW	CCZ	16,877	$504,454	0.10%
76	ILLINOIS TOOL WKS INC	452308109	2,000	$492,600	0.10%
77	NORTHROP GRUMMAN CORP	NOC	858	$489,240	0.10%
78	VANGUARD INDEX FDS	922908769	1,448	$485,783	0.10%
79	ENTERPRISE PRODS PARTNERS L	293792107	15,000	$480,900	0.10%
80	ISHARES TR	46435U663	10,099	$464,383	0.09%
81	AMKOR TECHNOLOGY INC	AMKR	11,163	$440,738	0.09%
82	ISHARES TR	464287630	2,388	$432,829	0.09%
83	EXXON MOBIL CORP	XOM	3,352	$403,488	0.08%
84	ISHARES TR	464287119	3,834	$398,889	0.08%
85	AMERICAN EXPRESS CO	AXP	1,074	$397,326	0.08%
86	VANGUARD INDEX FDS	922908363	628	$394,068	0.08%
87	PROSHARES TR	74347B508	7,220	$390,963	0.08%
88	ALPHABET INC	GOOG	1,225	$383,425	0.08%
89	INVESCO LTD	IVZ	14,565	$382,637	0.08%
90	YUM BRANDS INC	YUM	2,509	$379,562	0.08%
91	DISNEY WALT CO	254687106	3,315	$377,240	0.08%
92	HEWLETT PACKARD ENTERPRISE C	HPE-PC	15,642	$375,741	0.07%
93	MACYS INC	55616P104	16,986	$374,559	0.07%
94	KLA CORP	KLAC	302	$366,954	0.07%
95	SCHWAB STRATEGIC TR	808524771	12,922	$351,608	0.07%
96	INVESCO EXCHANGE TRADED FD T	IVZ	4,965	$349,625	0.07%
97	ISHARES TR	464288638	6,485	$349,417	0.07%
98	SPDR INDEX SHS FDS	78463X855	4,869	$339,717	0.07%
99	INVESCO EXCH TRADED FD TR II	IVZ	13,083	$337,672	0.07%
100	VANGUARD WHITEHALL FDS	921946810	3,653	$334,133	0.07%
101	INVESCO EXCH TRADED FD TR II	IVZ	5,086	$333,362	0.07%
102	INVESCO EXCHANGE TRADED FD T	IVZ	3,166	$327,301	0.07%
103	ISHARES TR	464288224	19,807	$325,441	0.06%
104	INVESCO EXCHANGE TRADED FD T	IVZ	6,880	$322,810	0.06%
105	COLGATE PALMOLIVE CO	CL	4,076	$322,086	0.06%
106	DELTA AIR LINES INC DEL	DAL	4,536	$314,839	0.06%
107	CITIZENS FINL GROUP INC	CIA	5,195	$303,479	0.06%
108	WELLS FARGO CO NEW	949746101	3,256	$303,459	0.06%
109	BORGWARNER INC	BWA	6,502	$292,987	0.06%
110	SCHWAB STRATEGIC TR	808524748	6,418	$285,922	0.06%
111	SCHWAB STRATEGIC TR	808524763	9,005	$283,748	0.06%
112	VIATRIS INC	VTRS	22,744	$283,163	0.06%
113	CREDICORP LTD	BAP	980	$281,260	0.06%
114	AB ACTIVE ETFS INC	00039J772	11,148	$279,759	0.06%
115	JANUS HENDERSON GROUP PLC	JHG	5,847	$278,183	0.06%
116	S&P GLOBAL INC	SPGI	532	$278,018	0.06%
117	CADENCE BANK	12740C103	6,487	$277,925	0.06%
118	SELECT SECTOR SPDR TR	81369Y209	1,791	$277,247	0.06%
119	LEVI STRAUSS & CO NEW	LEVI	13,308	$276,020	0.05%
120	SCHWAB STRATEGIC TR	808524805	11,479	$275,955	0.05%
121	ISHARES TR	464287176	2,500	$274,775	0.05%
122	SCHWAB STRATEGIC TR	808524607	9,626	$274,148	0.05%
123	KEYCORP	493267108	13,262	$273,738	0.05%
124	MURPHY OIL CORP	MUR	8,744	$273,250	0.05%
125	JACKSON FINANCIAL INC	JXN-PA	2,554	$272,392	0.05%
126	INVESCO EXCHANGE TRADED FD T	IVZ	1,421	$272,345	0.05%
127	CENOVUS ENERGY INC	CVE	16,073	$271,955	0.05%
128	LINCOLN NATL CORP IND	534187109	6,088	$271,101	0.05%
129	ISHARES TR	464287887	1,907	$269,192	0.05%
130	ARCHER DANIELS MIDLAND CO	ADM	4,654	$267,595	0.05%
131	NOBLE CORP PLC	NE-WT	9,393	$265,258	0.05%
132	WEBSTER FINL CORP	947890109	4,210	$264,994	0.05%
133	APPLIED MATLS INC	038222105	1,029	$264,517	0.05%
134	AUTOLIV INC	ALV	2,197	$260,860	0.05%
135	OSHKOSH CORP	OSK	2,072	$260,344	0.05%
136	LEAR CORP	LEA	2,261	$259,132	0.05%
137	FRANKLIN RESOURCES INC	BEN	10,810	$258,274	0.05%
138	VALLEY NATL BANCORP	919794107	22,013	$257,114	0.05%
139	HOME DEPOT INC	HD	746	$256,964	0.05%
140	POPULAR INC	BPOPM	2,061	$256,636	0.05%
141	REGIONS FINANCIAL CORP NEW	RF-PF	9,463	$256,470	0.05%
142	F N B CORP	302520101	14,953	$255,702	0.05%
143	GAP INC	GAP	9,825	$251,531	0.05%
144	ZIONS BANCORPORATION N A	989701107	4,282	$250,717	0.05%
145	MARRIOTT INTL INC NEW	571903202	807	$250,411	0.05%
146	TRUIST FINL CORP	89832Q109	5,078	$249,890	0.05%
147	HALLIBURTON CO	HAL	8,830	$249,553	0.05%
148	TOLL BROTHERS INC	TOL	1,842	$249,088	0.05%
149	METLIFE INC	MET-PF	3,141	$247,953	0.05%
150	FEDEX CORP	FDX	855	$247,082	0.05%
151	VOYA FINANCIAL INC	VOYA-PB	3,295	$245,464	0.05%
152	FEDERATED HERMES INC	FHI	4,702	$244,876	0.05%
153	COLUMBIA BKG SYS INC	197236102	8,677	$242,528	0.05%
154	KILROY RLTY CORP	49427F108	6,487	$242,419	0.05%
155	HUNTINGTON BANCSHARES INC	HBANP	13,971	$242,400	0.05%
156	PEPSICO INC	PEP	1,685	$241,857	0.05%
157	FIFTH THIRD BANCORP	FITBM	5,159	$241,512	0.05%
158	ISHARES TR	464287721	1,200	$239,616	0.05%
159	ASSOCIATED BANC CORP	ASBA	9,273	$238,883	0.05%
160	ANNALY CAPITAL MANAGEMENT IN	NLY-PJ	10,656	$238,275	0.05%
161	COPA HOLDINGS SA	CPA	1,971	$237,722	0.05%
162	NOV INC	NOV	15,188	$237,390	0.05%
163	HARROW INC	HROW	4,833	$236,817	0.05%
164	HOST HOTELS & RESORTS INC	HST	13,293	$235,685	0.05%
165	PAGERDUTY INC	PD	17,957	$235,416	0.05%
166	PERMIAN RESOURCES CORP	PR	16,772	$235,315	0.05%
167	ISHARES INC	46434G103	3,450	$231,909	0.05%
168	SYNOVUS FINL CORP	87161C501	4,595	$229,993	0.05%
169	RB GLOBAL INC	RBA	2,232	$229,606	0.05%
170	FIRST TR EXCHNG TRADED FD VI	33740U505	4,481	$229,350	0.05%
171	STANLEY BLACK & DECKER INC	SWK	3,074	$228,391	0.05%
172	GE AEROSPACE	369604301	738	$227,419	0.05%
173	CALIFORNIA RES CORP	CRC	5,032	$224,991	0.04%
174	AGNC INVT CORP	00123Q104	20,880	$223,834	0.04%
175	BRISTOL-MYERS SQUIBB CO	CELG-RI	4,129	$222,741	0.04%
176	OMNICOM GROUP INC	OMC	2,747	$221,820	0.04%
177	XP INC	XP	13,474	$220,569	0.04%
178	FULTON FINL CORP PA	360271100	11,401	$220,399	0.04%
179	BANK OZK LITTLE ROCK ARK	OZKAP	4,773	$219,657	0.04%
180	PRINCIPAL FINANCIAL GROUP IN	PFG	2,459	$216,961	0.04%
181	FISERV INC	FISV	3,200	$214,944	0.04%
182	BUNGE GLOBAL SA	BG	2,380	$212,086	0.04%
183	REINSURANCE GRP OF AMERICA I	759351604	1,037	$211,137	0.04%
184	VANGUARD CALIF TAX FREE FDS	922021605	2,103	$210,892	0.04%
185	PRUDENTIAL FINL INC	PUKPF	1,867	$210,790	0.04%
186	COREBRIDGE FINL INC	21871X109	6,965	$210,149	0.04%
187	AXIS CAP HLDGS LTD	G0692U109	1,943	$208,076	0.04%
188	CARDINAL HEALTH INC	CAH	1,012	$208,012	0.04%
189	SELECT SECTOR SPDR TR	81369Y506	4,642	$207,586	0.04%
190	CENCORA INC	COR	607	$205,153	0.04%
191	RENAISSANCERE HLDGS LTD	RNR-PG	727	$204,440	0.04%
192	EASTMAN CHEM CO	EMN	3,190	$203,650	0.04%
193	SLB LIMITED	SLB	5,224	$200,514	0.04%
194	MATADOR RES CO	MTDR	4,713	$200,057	0.04%
195	ABRDN EMERGING MARKETS EX CH	AEF	15,215	$106,508	0.02%