Baker Ellis Asset Management LLC

CIK

1365559

Location

Vancouver, WA

Portfolio Value

Micro $41,353,846

Diversification

Diversified

Filing Date

Global Rank

#2,433 / 8,232 ▲ 183

Top Industry

Insurance - Diversified 7.8%

3Y Alpha vs SPY

-3.5%

Period ended 2 months ago

Filed Apr 17, 2026 · 58d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+61.4%

SPY

+76.3%

Annualised alpha

-3.5%

Max drawdown

−14.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

183 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.4%

−0.6 pts

Top 5

25.2%

−0.9 pts

Top 10

38.4%

−0.8 pts

HHI

225

Diversified−12

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Industrials	20.9%	$96,934,071	33
Technology	19.2%	$88,988,465	19
Financial Services	15.5%	$71,671,104	23
Consumer Defensive	8.9%	$41,353,846	14
Energy	8.0%	$37,195,930	14
Healthcare	6.8%	$31,483,689	19
Real Estate	4.9%	$22,724,993	11
Unclassified	4.5%	$20,762,644	9
Consumer Cyclical	3.9%	$17,882,320	18
Communication Services	3.4%	$15,639,671	7
Utilities	2.0%	$9,228,024	7
Basic Materials	2.0%	$9,076,966	9

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
RYN	Rayonier Inc	+24,551	37,493	$773,105
ARCO	Arcos Dorados Holdings Inc.	+10,700	64,000	$528,000
ON	On Semiconductor Corp	+8,745	78,816	$4,880,286
NWSA	News Corp	+8,500	21,700	$540,981
MAA	Mid America Apartment Communities Inc.	+5,977	54,116	$6,608,645
SLB	Slb Limited/Nv	+2,550	108,850	$5,593,801
TAP	Molson Coors Beverage Co	+1,756	152,042	$6,546,928
AMRZ	Amrize Ltd	+1,500	50,205	$2,812,484
KIM	Kimco Realty Corp	+1,500	131,120	$2,946,266
PNW	Pinnacle West Capital Corp	+1,425	49,544	$4,991,558
TKR	Timken Co	+1,001	64,163	$6,452,872
MSFT	Microsoft Corp	+788	57,314	$21,215,923
AMZN	Amazon Com Inc	+751	26,503	$5,519,779
AGCO	Agco Corp /De	+670	34,895	$4,043,283
PSA	Public Storage	+550	18,212	$4,933,266
BCC	BOISE CASCADE Co	+390	21,570	$1,636,084
PLD	Prologis, Inc.	+245	8,321	$1,099,869
HST	Host Hotels & Resorts, Inc.	+203	31,007	$594,094
SON	Sonoco Products Co	+201	5,307	$287,055
JNJ	Johnson & Johnson	+190	12,665	$3,095,832
COF	Capital One Financial Corp	+124	30,247	$5,517,960
WHR	Whirlpool Corp /De/	+100	7,575	$408,444
UBS	UBS Group AG	+100	37,250	$1,455,357
SYK	Stryker Corp	+97	20,924	$6,875,417
COST	Costco Wholesale Corp /New	+90	13,871	$13,821,480
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
DHC	Diversified Healthcare Trust	−24,000	21,000	$139,440
LMNR	Limoneira CO	−6,500	18,800	$252,296
PBR	Petrobras - Petroleo Brasileiro SA	−6,000	12,000	$249,000
GLDM	World Gold Trust	−5,450	54,665	$5,066,898
SONY	Sony Group Corp	−5,000	10,525	$217,867
SELF	Global Self Storage, Inc.	−4,000	35,000	$178,850
OUNZ	VanEck Merk Gold ETF	−4,000	33,000	$1,486,650
BP	Bp PLC	−3,999	104,800	$4,925,600
LRCX	Lam Research Corp	−3,850	112,622	$24,062,816
VOD	Vodafone Group Public Ltd Co	−3,300	26,000	$390,520
RIO	Rio Tinto PLC	−2,800	5,800	$541,082
TTE	TotalEnergies SE	−2,000	6,453	$587,093
STLA	Stellantis N.V.	−2,000	22,840	$161,935
PHYS	Sprott Physical Gold Trust	−2,000	15,000	$531,600
SLV	iShares Silver Trust	−1,160	7,040	$479,705
ORCL	Oracle Corp	−1,062	3,034	$446,331
CARR	CARRIER GLOBAL Corp	−1,039	88,599	$4,989,009
LCNB	Lcnb Corp	−1,000	15,500	$241,645
IAU	Ishares Gold Trust	−1,000	5,500	$484,880
TTI	Tetra Technologies Inc	−1,000	16,000	$136,320
NOV	NOV Inc.	−1,000	18,400	$346,104
HSIC	Henry Schein Inc	−985	48,343	$3,562,879
PEP	Pepsico Inc	−930	30,504	$4,736,966
XOM	Exxon Mobil Corp	−919	71,033	$12,051,458
SHEL	Shell plc	−900	21,393	$1,989,549
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
FDP	Fresh Del Monte Produce Inc	11,100	$446,886
INSW	International Seaways, Inc.	4,000	$291,520
TROW	Price T Rowe Group Inc	3,200	$288,448
TGT	Target Corp	2,020	$244,824
MU	Micron Technology Inc	694	$234,460
NTR	Nutrien Ltd.	3,000	$226,380
RUSHA	Rush Enterprises Inc \Tx\	3,150	$208,246
SIVR	abrdn Silver ETF Trust	2,900	$207,669
DTE	Dte Energy Co	1,389	$203,099
ELDN	Eledon Pharmaceuticals, Inc.	19,000	$58,520
No positions match the current search.

Sold Out

Positions the filer fully exited

16 positions

Ticker	Company	Shares	Value
FXE	Invesco CurrencyShares Euro Trust	3,500	$379,610
JEF	Jefferies Financial Group Inc.	6,000	$371,820
IBM	International Business Machines Corp	962	$284,954
TMO	Thermo Fisher Scientific Inc.	429	$248,584
THO	Thor Industries Inc	2,408	$247,229
HMC	Honda Motor Co Ltd	8,100	$238,788
PSLV	Sprott Physical Silver Trust	10,000	$236,500
FICO	Fair Isaac Corp	139	$234,996
TSLA	Tesla, Inc.	519	$233,404
DHR	Danaher Corp /De/	920	$210,606
ALK	Alaska Air Group, Inc.	4,094	$205,928
MET	Metlife Inc	2,593	$204,691
NXST	Nexstar Media Group, Inc.	1,000	$203,050
IFN	Aberdeen India Fund, Inc.	12,000	$164,520
WU	Western Union CO	10,000	$93,100
ABEV	Ambev S.A.	30,000	$74,100
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

14 positions · $41,353,846 total · Consumer Defensive only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TGT	Target Corp Consumer Defensive	NEW	2,020	NEW	$244,824	NEW	0.59%
LMNR	Limoneira CO Consumer Defensive	Reduced	18,800	-6,500	$252,296	−21.0%	0.61%
KO	Coca Cola Co Consumer Defensive	Reduced	4,150	-116	$315,607	+5.8%	0.76%
ANDE	Andersons, Inc. Consumer Defensive	Held	4,500	0	$323,010	+35.0%	0.78%
FDP	Fresh Del Monte Produce Inc Consumer Defensive	NEW	11,100	NEW	$446,886	NEW	1.08%
GHC	Graham Holdings Co Consumer Defensive	Added	678	+58	$716,822	+5.2%	1.73%
PG	PROCTER & GAMBLE Co Consumer Defensive	Held	6,082	0	$878,484	+0.8%	2.12%
IMKTA	Ingles Markets Inc Consumer Defensive	Reduced	22,578	-725	$2,029,536	+27.1%	4.91%
WMT	Walmart Inc. Consumer Defensive	Reduced	17,687	-20	$2,198,140	+11.4%	5.32%
FMX	Mexican Economic Development Inc Consumer Defensive	Reduced	36,067	-525	$4,005,601	+8.3%	9.69%
PEP	Pepsico Inc Consumer Defensive	Reduced	30,504	-930	$4,736,966	+5.0%	11.45%
KR	Kroger Co Consumer Defensive	Reduced	66,850	-150	$4,837,266	+15.6%	11.70%
TAP	Molson Coors Beverage Co Consumer Defensive	Added	152,042	+1,756	$6,546,928	−6.7%	15.83%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	13,871	+90	$13,821,480	+16.3%	33.42%