Cladis Investment Advisory, LLC

Registered adviser

CIK

1911520

Location

BILLINGS, MT

Portfolio Value

Small $213,976,619

Diversification

Diversified

Filing Date

Global Rank

#6,324 / 8,827 ▲ 88

Top Industry

Semiconductors 13.6%

Period ended 4 months ago

Filed Aug 13, 2026 · 3mo

19 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 153873

Roster of Nov 1, 2026

Regulatory AUM

$242,614,579

Main clients

Individuals and high net worth (62% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$242,614,579	Individuals and high net worth (62%)
Mar 2025 to Mar 2026	$206,599,567	Individuals and high net worth (61%)
Apr 2024 to Feb 2025	$139,940,781	Individuals and high net worth (77%)
May 2023 to Mar 2024	$104,921,621	Individuals and high net worth (76%)
Apr 2023	$104,921,621	Individuals and high net worth (76%)
Aug 2022 to Mar 2023	$111,701,416	Individuals and high net worth (75%)

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 33.2%, 52.5 effective positions, active share 55.3% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

18.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 15.2 quarters (12+)

Closest benchmark: the S&P 500 as of 2026-06-30, active share 55.3%; sector active share 10.6% against the combined 13F book's sector weights.

Over time 19 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

173 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

7.2%

−0.3 pts

Top 5

22.0%

−0.3 pts

Top 10

33.2%

+0.2 pts

HHI

190

Diversified−5

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	29.7%	$63,459,125	27
Industrials	15.8%	$33,717,805	23
Unclassified	14.7%	$31,505,335	36
Financial Services	8.5%	$18,184,170	18
Healthcare	7.7%	$16,492,006	16
Consumer Cyclical	5.7%	$12,092,152	10
Communication Services	5.3%	$11,423,020	8
Consumer Defensive	4.6%	$9,749,421	11
Energy	3.6%	$7,785,335	9
Utilities	2.4%	$5,123,681	6
Basic Materials	1.9%	$4,109,094	8
Real Estate	0.2%	$335,475	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BYRN	Byrna Technologies Inc.	+39,600	103,500	$694,485
QXO	QXO, Inc.	+17,405	120,965	$2,090,275
UBER	Uber Technologies, Inc	+9,465	28,286	$2,041,117
NKE	NIKE, Inc.	+9,021	38,637	$1,586,048
VUG	VANGUARD GROWTH INDEX FUND	+6,325	7,590	$653,802
ORCL	Oracle Corp	+5,117	17,897	$2,622,805
VO	VANGUARD MID-CAP INDEX FUND	+4,770	6,360	$512,425
ONT	Onterris, Inc.	+3,900	56,800	$1,147,928
HAL	Halliburton Co	+3,600	10,600	$359,870
GOOG	Alphabet Inc.	+2,980	5,961	$2,106,200
NFLX	Netflix Inc	+2,920	19,585	$1,398,369
PM	Philip Morris International Inc.	+2,800	5,009	$906,178
NOW	ServiceNow, Inc.	+2,230	7,925	$786,794
CRWV	CoreWeave, Inc.	+1,920	4,720	$469,828
XLF	State Street Corp	+1,829	35,877	$1,923,365
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	+1,367	35,754	$1,621,086
ENB	Enbridge Inc	+1,340	5,172	$280,374
DFAS	Dimensional U.S. Small Cap ETF	+1,226	13,180	$1,085,241
KGC	Kinross Gold Corp	+1,000	14,000	$330,680
AEM	Agnico Eagle Mines Ltd	+1,000	2,000	$310,260
LULU	lululemon athletica inc.	+1,000	2,500	$285,450
MO	Altria Group, Inc.	+1,000	10,914	$785,262
NEE	Nextera Energy Inc	+1,000	24,500	$2,150,365
COIN	Coinbase Global, Inc.	+860	6,340	$926,844
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	+828	12,817	$1,373,085
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
MDU	Mdu Resources Group Inc	−23,485	36,730	$779,043
F	Ford Motor Co	−10,196	114,315	$1,588,978
CLF	Cleveland-Cliffs Inc.	−9,300	87,350	$820,216
INTC	Intel Corp	−6,600	17,705	$2,472,149
LUV	Southwest Airlines Co	−4,000	5,000	$257,100
GOOGL	Alphabet Inc.	−3,026	931	$332,711
DELL	Dell Technologies Inc.	−2,170	5,145	$2,219,861
CALM	Cal-Maine Foods Inc	−1,800	6,500	$523,640
HON	Honeywell International Inc	−1,594	1,594	$356,896
UPS	United Parcel Service Inc	−1,299	18,271	$1,964,132
ARTY	iShares Future AI & Tech ETF	−1,260	18,535	$1,411,625
VZ	Verizon Communications Inc	−1,097	50,042	$2,118,778
FIBK	First Interstate Bancsystem Inc	−1,088	83,865	$3,233,834
AMD	Advanced Micro Devices Inc	−1,005	7,055	$4,098,320
CPK	Chesapeake Utilities Corp	−1,000	7,000	$857,360
NVDA	Nvidia Corp	−801	47,218	$9,447,849
NVO	Novo Nordisk A S	−700	5,000	$239,700
UNH	Unitedhealth Group Inc	−670	4,599	$1,911,482
AAPL	Apple Inc.	−603	52,922	$15,313,509
T	At&T Inc.	−598	86,465	$1,789,825
MDLZ	Mondelez International, Inc.	−500	4,736	$273,930
FTAI	FTAI Aviation Ltd.	−500	6,000	$1,623,180
KNF	Knife River Corp	−500	21,267	$1,778,984
PFE	Pfizer Inc	−497	61,551	$1,482,148
GE	General Electric Co	−400	14,927	$5,578,667
No positions match the current search.

New Positions

Positions the filer opened this quarter

18 positions

Ticker	Company	Shares	Value
IREN	IREN Ltd	9,500	$434,435
HONA	Honeywell Aerospace Inc.	1,594	$352,401
SOXX	iShares Semiconductor ETF	487	$312,050
JBND	JPMorgan Active Bond ETF	5,235	$280,072
JEPI	JPMorgan Equity Premium Income ETF	4,495	$253,877
GIS	General Mills Inc	7,210	$250,908
FDXF	FedEx Freight Holding Company, Inc.	1,500	$226,500
BIIB	Biogen Inc.	1,040	$224,702
DFAI	Dimensional International Core Equity Market ETF	5,308	$218,955
MHK	Mohawk Industries Inc	1,800	$218,394
DFUV	Dimensional U.S. Marketwide Value ETF	3,900	$214,539
SCHF	Schwab International Equity ETF	7,720	$213,844
MRVL	Marvell Technology, Inc.	700	$208,523
XPO	XPO, Inc.	1,000	$205,290
USB	US Bancorp De	3,379	$204,091
—		2,525	$204,070
HOOD	Robinhood Markets, Inc.	2,025	$203,067
BTG	B2gold Corp	10,000	$37,400
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
PAAS	Pan American Silver Corp	5,000	$273,150
PLTR	Palantir Technologies Inc.	1,600	$234,048
CMCSA	Comcast Corp	7,544	$216,588
HL	Hecla Mining Co	10,000	$186,300
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

173 tracked positions · $213,976,619 total · filing declares 173 positions · $213,977,030 · as of Jun 30, 2026

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

Showing 1–50 of 173 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
AAPL	Apple Inc. Technology	Reduced	52,922	-603	$15,313,509	+12.7%	19	before history	7.16%
NVDA	Nvidia Corp Technology	Reduced	47,218	-801	$9,447,849	+12.8%	16	unpriced	4.42%
GEV	GE Vernova Inc. Industrials	Added	4,825	+5	$5,668,699	+34.7%	9	$171.69	2.65%
GE	General Electric Co Industrials	Reduced	14,927	-400	$5,578,667	+28.3%	19	before history	2.61%
AMZN	Amazon Com Inc Consumer Cyclical	Added	21,335	+73	$5,084,983	+14.8%	19	before history	2.38%
LLY	ELI LILLY & Co Healthcare	Added	4,143	+1	$4,969,238	+30.4%	19	before history	2.32%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Held	10,300	0	$4,918,971	+41.3%	19	before history	2.30%
MSFT	Microsoft Corp Technology	Added	11,911	+538	$4,443,041	+5.5%	19	before history	2.08%
QQQ	Invesco Qqq Trust, Series 1	Added	5,980	+219	$4,403,672	+32.4%	19	before history	2.06%
CAT	Caterpillar Inc Industrials	Reduced	3,938	-327	$4,193,576	+38.8%	19	before history	1.96%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Added	21,616	+394	$4,118,280	+46.0%	19	before history	1.92%
AMD	Advanced Micro Devices Inc Technology	Reduced	7,055	-1,005	$4,098,320	+150.0%	19	before history	1.92%
FIBK	First Interstate Bancsystem Inc Financial Services	Reduced	83,865	-1,088	$3,233,834	+14.0%	19	before history	1.51%
IBM	International Business Machines Corp Technology	Reduced	11,121	-50	$3,127,336	+15.5%	19	before history	1.46%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	3,198	-10	$2,991,633	−6.4%	19	before history	1.40%
XOM	ExxonMobil Holdings Corp Energy	Reduced	21,199	-98	$2,898,327	−19.8%	19	before history	1.35%
ORCL	Oracle Corp Technology	Added	17,897	+5,117	$2,622,805	+39.5%	3	$195.64	1.23%
VRT	Vertiv Holdings Co Industrials	Reduced	7,635	-150	$2,556,350	+31.0%	6	$106.35	1.19%
INTC	Intel Corp Technology	Reduced	17,705	-6,600	$2,472,149	+130.5%	19	before history	1.16%
JPM	Jpmorgan Chase & Co Financial Services	Held	7,203	0	$2,357,757	+11.3%	19	before history	1.10%
DELL	Dell Technologies Inc. Technology	Reduced	5,145	-2,170	$2,219,861	+84.9%	8	$115.07	1.04%
NEE	Nextera Energy Inc Utilities	Added	24,500	+1,000	$2,150,365	−1.5%	19	before history	1.00%
VZ	Verizon Communications Inc Communication Services	Reduced	50,042	-1,097	$2,118,778	−17.5%	19	before history	0.99%
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	Reduced	39,795	-250	$2,113,512	−13.8%	19	before history	0.99%
GOOG	Alphabet Inc. Communication Services	Added	5,961	+2,980	$2,106,200	+146.3%	19	before history	0.98%
QXO	QXO, Inc. Industrials	Added	120,965	+17,405	$2,090,275	+3.9%	5	$19.69	0.98%
ECG	Everus Construction Group, Inc. Industrials	Held	12,543	0	$2,081,510	+40.6%	7	$62.60	0.97%
UBER	Uber Technologies, Inc Technology	Added	28,286	+9,465	$2,041,117	+50.8%	3	$80.82	0.95%
SNOW	Snowflake Inc. Technology	Added	7,967	+227	$2,027,601	+73.7%	18	$146.71	0.95%
UPS	United Parcel Service Inc Industrials	Reduced	18,271	-1,299	$1,964,132	+2.0%	19	before history	0.92%
XLF	State Street Corp Financial Services	Added	35,877	+1,829	$1,923,365	+14.4%	19	before history	0.90%
UNH	Unitedhealth Group Inc Healthcare	Reduced	4,599	-670	$1,911,482	+34.1%	19	before history	0.89%
MRK	Merck & Co., Inc. Healthcare	Added	14,225	+101	$1,827,912	+7.6%	19	before history	0.85%
T	At&T Inc. Communication Services	Reduced	86,465	-598	$1,789,825	−29.1%	19	before history	0.84%
KNF	Knife River Corp Basic Materials	Reduced	21,267	-500	$1,778,984	+0.1%	13	unpriced	0.83%
MU	Micron Technology Inc Technology	Reduced	1,524	-95	$1,759,137	+221.6%	5	$93.41	0.82%
SPY	Spdr S&P 500 ETF Trust	Added	2,314	+467	$1,728,025	+43.9%	19	before history	0.81%
FTAI	FTAI Aviation Ltd. Industrials	Reduced	6,000	-500	$1,623,180	+1.9%	15	$16.79	0.76%
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	Added	35,754	+1,367	$1,621,086	+2.7%	19	before history	0.76%
F	Ford Motor Co Consumer Cyclical	Reduced	114,315	-10,196	$1,588,978	+10.6%	19	before history	0.74%
NKE	NIKE, Inc. Consumer Cyclical	Added	38,637	+9,021	$1,586,048	+1.4%	10	$67.15	0.74%
META	Meta Platforms, Inc. Communication Services	Added	2,815	+151	$1,585,661	+4.0%	19	before history	0.74%
DIS	Walt Disney Co Communication Services	Added	16,139	+8	$1,553,378	−0.1%	19	before history	0.73%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	3,098	-50	$1,550,208	+2.8%	19	before history	0.72%
VFH	VANGUARD FINANCIALS INDEX FUND	Held	11,755	0	$1,546,958	+8.9%	19	before history	0.72%
CRWD	CrowdStrike Holdings, Inc. Technology	Held	1,993	0	$1,520,938	+95.5%	19	before history	0.71%
PFE	Pfizer Inc Healthcare	Reduced	61,551	-497	$1,482,148	−14.9%	19	before history	0.69%
GBCI	Glacier Bancorp, Inc. Financial Services	Held	28,298	0	$1,459,610	+15.5%	19	before history	0.68%
ARTY	iShares Future AI & Tech ETF	Reduced	18,535	-1,260	$1,411,625	+53.3%	6	unpriced	0.66%
NFLX	Netflix Inc Communication Services	Added	19,585	+2,920	$1,398,369	−12.7%	14	unpriced	0.65%

Showing the top 50 of 173 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.