Cornerstone Advisory 13F annual report

Cornerstone Advisory is an investment fund managing more than $698 billion ran by Lonny Elfenbein. There are currently 171 companies in Mrs. Elfenbein’s portfolio. The largest investments include J P Morgan Exchange Traded F and Ishares Tr, together worth $211 billion.

$698 billion Assets Under Management (AUM)

As of 7th August 2024, Cornerstone Advisory’s top holding is 2,073,712 shares of J P Morgan Exchange Traded F currently worth over $117 billion and making up 16.5% of the portfolio value. In addition, the fund holds 538,661 shares of Ishares Tr worth $94.4 billion. The third-largest holding is Vanguard Whitehall Fds worth $34.9 billion and the next is Apple Inc worth $26.7 billion, with 126,737 shares owned.

Currently, Cornerstone Advisory's portfolio is worth at least $698 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Cornerstone Advisory

The Cornerstone Advisory office and employees reside in Hunt Valley, Maryland. According to the last 13-F report filed with the SEC, Lonny Elfenbein serves as the Chief Compliance Officer at Cornerstone Advisory.

Recent trades

In the most recent 13F filing, Cornerstone Advisory revealed that it had opened a new position in American Centy Etf Tr and bought 7,777 shares worth $698 million.

The investment fund also strengthened its position in J P Morgan Exchange Traded F by buying 2,792 additional shares. This makes their stake in J P Morgan Exchange Traded F total 2,073,712 shares worth $117 billion.

On the other hand, there are companies that Cornerstone Advisory is getting rid of from its portfolio. Cornerstone Advisory closed its position in Valero on 14th August 2024. It sold the previously owned 5,793 shares for $989 million. Lonny Elfenbein also disclosed a decreased stake in Berkshire Hathaway by approximately 0.1%. This leaves the value of the investment at $17.5 billion and 42,931 shares.

One of the average hedge funds

The two most similar investment funds to Cornerstone Advisory are Joho Capital and Maven Securities Ltd. They manage $707 billion and $706 billion respectively.


Lonny Elfenbein investment strategy

Cornerstone Advisory’s portfolio is diversified across 13 sectors. Currently, their heaviest sector is Technology — making up 8.5% of the total portfolio value. The fund focuses on investments in the United States as 45.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 43% of the total holdings value. On the other hand, small-cap stocks make up only 1.8% of the portfolio. The average market cap of the portfolio companies is close to $197 billion.

The complete list of Cornerstone Advisory trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
J P Morgan Exchange Traded F
0.13%
2,073,712
$116,548,378,000 16.49%
Ishares Tr
0.69%
538,661
$94,392,119,000 13.35%
Vanguard Whitehall Fds
2.69%
296,567
$34,912,619,000 4.94%
Apple Inc
1.59%
126,737
$26,693,250,000 3.78%
Goldman Sachs Etf Tr
21.31%
416,997
$33,862,650,000 4.79%
Vanguard Admiral Fds Inc
63.68%
59,351
$19,790,644,000 2.80%
Berkshire Hathaway Inc.
1.66%
42,931
$17,464,331,000 2.47%
T Rowe Price Etf Inc
8.51%
523,983
$16,584,171,000 2.35%
Alphabet Inc
4.28%
126,155
$23,032,078,000 3.26%
Vanguard World Fd
0.18%
57,009
$23,353,668,000 3.30%
Amazon.com Inc.
3.78%
76,378
$14,760,049,000 2.09%
Microsoft Corporation
6.68%
32,247
$14,413,048,000 2.04%
Janus Detroit Str Tr
3.94%
245,070
$12,469,140,000 1.76%
Pimco Dynamic Income Fd
6.99%
584,238
$10,989,511,000 1.55%
Blackrock Muniyild Qult Fd I
1.51%
878,928
$10,793,235,000 1.53%
Pimco Etf Tr
15.99%
115,017
$10,475,732,000 1.48%
Vanguard Specialized Funds
0.07%
57,112
$10,425,768,000 1.47%
Nuveen Pfd Income Term Fd
10.52%
517,686
$10,069,002,000 1.42%
VanEck ETF Trust
5.37%
110,967
$9,610,892,000 1.36%
Price T Rowe Group Inc
0.01%
69,403
$8,002,875,000 1.13%
Vanguard Index Fds
5.07%
110,873
$24,684,993,000 3.49%
Meta Platforms Inc
1.05%
13,422
$6,767,699,000 0.96%
NVIDIA Corp
1,351.48%
52,108
$6,437,414,000 0.91%
Pimco Dynamic Income Oprnts
1.50%
437,883
$5,819,464,000 0.82%
Spdr Ser Tr
1.70%
63,006
$7,249,445,000 1.03%
Blackrock Health Sciences Tr
1.96%
136,294
$5,567,587,000 0.79%
Invesco Exchange Traded Fd T
0.46%
230,008
$7,962,784,000 1.13%
Visa Inc
4.11%
18,804
$4,935,444,000 0.70%
Cencora Inc.
0.01%
20,807
$4,687,817,000 0.66%
Nuveen Amt Free Mun Cr Inc F
8.79%
361,426
$4,503,367,000 0.64%
Pacer Fds Tr
0.64%
75,457
$4,111,652,000 0.58%
Spdr Sp 500 Etf Tr
43.01%
7,252
$3,946,942,000 0.56%
Mastercard Incorporated
2.68%
8,930
$3,939,407,000 0.56%
Cohen Steers Select Pfd
1.13%
161,444
$3,193,373,000 0.45%
Abbvie Inc
24.32%
15,987
$2,742,010,000 0.39%
Jpmorgan Chase Co.
7.61%
12,402
$2,508,330,000 0.35%
Johnson Johnson
4.25%
17,129
$2,503,527,000 0.35%
Nuveen Quality Muncp Income
12.28%
195,803
$2,298,726,000 0.33%
Eli Lilly Co
3.86%
2,531
$2,291,401,000 0.32%
Exxon Mobil Corp.
5.25%
19,847
$2,284,824,000 0.32%
Select Sector Spdr Tr
15.38%
55,605
$6,152,199,000 0.87%
Procter And Gamble Co
1.19%
12,369
$2,039,846,000 0.29%
Costco Whsl Corp New
1.73%
2,176
$1,849,984,000 0.26%
Stryker Corp.
0.69%
5,222
$1,776,667,000 0.25%
Unitedhealth Group Inc
9.57%
3,413
$1,738,088,000 0.25%
Philip Morris International Inc
169.76%
16,188
$1,640,330,000 0.23%
Merck Co Inc
4.70%
12,964
$1,604,993,000 0.23%
Pimco Mun Income Fd Ii
6.38%
170,430
$1,453,774,000 0.21%
Applied Matls Inc
3.58%
5,954
$1,405,084,000 0.20%
Oracle Corp.
3.94%
9,931
$1,402,202,000 0.20%
Palo Alto Networks Inc
23.97%
4,091
$1,386,890,000 0.20%
Oaktree Specialty Lending Co
4.15%
65,442
$1,274,997,000 0.18%
Gartner, Inc.
4.36%
2,766
$1,242,100,000 0.18%
Ishares Inc
11.65%
21,337
$1,142,167,000 0.16%
Home Depot, Inc.
15.07%
3,112
$1,071,444,000 0.15%
Danaher Corp.
0.05%
3,980
$994,412,000 0.14%
Valero Energy Corp.
Closed
5,793
$988,807,000
Union Pac Corp
0.48%
4,323
$978,130,000 0.14%
Pepsico Inc
1.57%
5,912
$975,084,000 0.14%
Vanguard Intl Equity Index F
1.31%
22,910
$1,246,558,000 0.18%
Bank America Corp
0.15%
24,082
$957,752,000 0.14%
Appian Corp
5.90%
29,807
$919,844,000 0.13%
Ssga Active Etf Tr
11.16%
28,108
$1,127,385,000 0.16%
Truist Finl Corp
3.60%
20,354
$790,753,000 0.11%
AMGEN Inc.
0.32%
2,476
$773,483,000 0.11%
Invesco Exch Traded Fd Tr Ii
22.76%
3,911
$770,932,000 0.11%
Proshares Tr
0.34%
8,000
$769,040,000 0.11%
Advanced Micro Devices Inc.
3.06%
4,654
$754,925,000 0.11%
RTX Corp
3.04%
7,515
$754,431,000 0.11%
Mcdonalds Corp
7.65%
2,933
$747,493,000 0.11%
Trane Technologies plc
0.53%
2,258
$742,724,000 0.11%
Disney Walt Co
24.74%
7,455
$740,242,000 0.10%
Honeywell International Inc
5.79%
3,465
$739,878,000 0.10%
Kayne Anderson Energy Infrst
36.31%
71,270
$736,223,000 0.10%
Walmart Inc
13.97%
10,831
$733,351,000 0.10%
Lockheed Martin Corp.
24.20%
1,516
$707,961,000 0.10%
American Centy Etf Tr
Opened
7,777
$697,752,000 0.10%
Marriott Intl Inc New
4.00%
2,830
$684,192,000 0.10%
Broadcom Inc
40.34%
426
$683,956,000 0.10%
Vanguard Scottsdale Fds
20.79%
18,055
$1,215,666,000 0.17%
Shenandoah Telecommunication
Opened
41,151
$671,996,000 0.10%
Duke Energy Corp.
14.60%
6,625
$664,024,000 0.09%
Chipotle Mexican Grill
Closed
222
$645,303,000
Chevron Corp.
35.66%
4,030
$630,426,000 0.09%
NextEra Energy Inc
20.67%
8,808
$623,694,000 0.09%
Altria Group Inc.
3.24%
13,609
$619,871,000 0.09%
CSX Corp.
13.53%
17,826
$596,280,000 0.08%
American Tower Corp.
23.70%
2,988
$580,807,000 0.08%
Boeing Co.
6.98%
3,144
$572,239,000 0.08%
Automatic Data Processing In
15.23%
2,372
$566,127,000 0.08%
Caterpillar Inc.
6.44%
1,670
$556,352,000 0.08%
Constellation Energy Corp
41.98%
2,752
$551,175,000 0.08%
American Elec Pwr Co Inc
27.32%
6,239
$547,410,000 0.08%
International Business Machs
0.22%
3,126
$540,582,000 0.08%
First Tr Exch Traded Fd Iii
1.50%
29,948
$519,901,000 0.07%
Waste Mgmt Inc Del
1.60%
2,420
$516,376,000 0.07%
Schwab Charles Corp
Closed
6,974
$504,499,000
Cohen Steers Infrastructur
85.41%
21,446
$482,106,000 0.07%
Pfizer Inc.
30.48%
17,202
$481,314,000 0.07%
Abbott Labs
13.01%
4,567
$474,557,000 0.07%
Northrop Grumman Corp.
0.37%
1,079
$470,391,000 0.07%
Moodys Corp
0.36%
1,114
$468,916,000 0.07%
Tractor Supply Co.
No change
1,736
$468,720,000 0.07%
Blackstone Inc
20.36%
3,724
$460,982,000 0.07%
Texas Instrs Inc
0.85%
2,266
$440,805,000 0.06%
Pure Storage Inc
25.65%
6,840
$439,196,000 0.06%
Wells Fargo Co New
0.43%
7,245
$430,281,000 0.06%
Public Storage Oper Co
1.44%
1,480
$425,722,000 0.06%
Coca-Cola Co
3.20%
6,655
$423,591,000 0.06%
The Southern Co.
4.30%
5,359
$415,663,000 0.06%
Verizon Communications Inc
46.93%
10,072
$415,352,000 0.06%
Thermo Fisher Scientific Inc.
7.84%
741
$409,773,000 0.06%
United Parcel Service, Inc.
Closed
2,745
$407,990,000
Emerson Elec Co
17.54%
3,699
$407,495,000 0.06%
Snowflake Inc.
Closed
2,505
$404,808,000
Bunge Global SA
No change
3,735
$398,786,000 0.06%
British Amern Tob Plc
Closed
13,000
$396,500,000
Qualcomm, Inc.
5.06%
1,895
$377,499,000 0.05%
Prologis Inc
4.73%
3,343
$375,452,000 0.05%
Spdr Gold Tr
Closed
1,810
$372,353,000
Cisco Sys Inc
31.81%
7,793
$370,256,000 0.05%
Dominion Energy Inc
2.77%
7,402
$362,698,000 0.05%
Avalonbay Cmntys Inc
0.99%
1,737
$359,368,000 0.05%
Energy Transfer L P
64.39%
22,080
$358,134,000 0.05%
Linde Plc.
Opened
812
$356,314,000 0.05%
Adobe Inc
6.45%
627
$348,324,000 0.05%
LCNB Corp
No change
24,500
$340,795,000 0.05%
Marsh Mclennan Cos Inc
3.93%
1,612
$339,766,000 0.05%
Tesla Inc
10.53%
1,708
$337,979,000 0.05%
Air Prods Chems Inc
5.57%
1,308
$337,529,000 0.05%
Crown Castle Inc
57.93%
3,413
$333,450,000 0.05%
Bristol-Myers Squibb Co.
29.56%
8,024
$333,252,000 0.05%
Uber Technologies Inc
2.55%
4,579
$332,802,000 0.05%
Intel Corp.
5.61%
10,613
$328,669,000 0.05%
Targa Res Corp
Closed
2,913
$326,227,000
AT&T Inc.
Closed
18,438
$324,506,000
GE Aerospace
0.58%
2,041
$324,406,000 0.05%
Mondelez International Inc.
26.25%
4,915
$321,633,000 0.05%
Marvell Technology Inc
Closed
4,515
$320,023,000
3M Co.
1.18%
3,096
$316,401,000 0.04%
Amplify Etf Tr
Closed
8,060
$313,382,000
Spdr Dow Jones Indl Average
No change
780
$305,081,000 0.04%
Kkr Co Inc
6.48%
2,885
$303,617,000 0.04%
Prudential Finl Inc
Closed
2,586
$303,596,000
Medtronic Plc
40.25%
3,825
$301,066,000 0.04%
CVS Health Corp
Closed
3,763
$300,151,000
Corning, Inc.
0.20%
7,678
$298,290,000 0.04%
Amphenol Corp.
96.41%
4,376
$294,811,000 0.04%
Exelon Corp.
26.71%
8,492
$293,908,000 0.04%
Conocophillips
23.95%
2,546
$291,211,000 0.04%
Deckers Outdoor Corp.
No change
292
$282,641,000 0.04%
Dimensional Etf Trust
No change
4,650
$279,372,000 0.04%
Simon Ppty Group Inc New
1.11%
1,828
$277,490,000 0.04%
Blackrock Inc.
12.14%
351
$276,349,000 0.04%
Compass Diversified
0.16%
12,552
$274,763,000 0.04%
Tortoise Midstrm Energy Fd I
67.87%
6,175
$265,222,000 0.04%
Goldman Sachs Group, Inc.
7.28%
586
$264,933,000 0.04%
Hunt J B Trans Svcs Inc
0.49%
1,641
$262,533,000 0.04%
Netflix Inc.
9.98%
388
$261,853,000 0.04%
Ares Capital Corp
10.68%
12,540
$261,334,000 0.04%
Enterprise Prods Partners L
39.04%
8,977
$260,153,000 0.04%
Constellation Brands, Inc.
59.41%
1,009
$259,596,000 0.04%
Morgan Stanley
27.24%
2,642
$256,776,000 0.04%
Salesforce Inc
Closed
851
$256,304,000
Akamai Technologies Inc
27.44%
2,829
$254,836,000 0.04%
Starbucks Corp.
14.48%
3,241
$252,338,000 0.04%
Oneok Inc.
4.57%
3,050
$248,728,000 0.04%
Zoetis Inc
Closed
1,424
$241,033,000
Deere Co
9.30%
644
$240,466,000 0.03%
VanEck ETF Trust
Opened
907
$236,455,000 0.03%
Archer Daniels Midland Co.
0.52%
3,890
$235,151,000 0.03%
C3.ai Inc
0.74%
8,016
$232,143,000 0.03%
Chubb Limited
15.83%
872
$222,430,000 0.03%
Vanguard Tax-managed Fds
6.51%
4,418
$218,334,000 0.03%
Allstate Corp (The)
Closed
1,261
$218,114,000
Fedex Corp
Closed
748
$216,725,000
Global X Fds
Closed
12,759
$215,749,000
Sandy Spring Bancorp
Closed
9,293
$215,412,000
Phillips 66
Closed
1,308
$213,649,000
Nike, Inc.
30.03%
2,814
$212,094,000 0.03%
Kimberly-Clark Corp.
Opened
1,529
$211,308,000 0.03%
First Tr Value Line Divid In
Closed
5,000
$211,150,000
KLA Corp.
Opened
253
$208,601,000 0.03%
Ishares Tr
Opened
2,500
$203,525,000 0.03%
Eaton Vance Tax-managed Glob
9.63%
24,259
$200,619,000 0.03%
First Tr Exchng Traded Fd Vi
Opened
10,387
$192,980,000 0.03%
First Tr Energy Income & Gro
Closed
11,800
$192,812,000
Pimco Corporate Income Opp
No change
12,000
$171,720,000 0.02%
Blackrock Muniyield Fd Inc
No change
12,141
$131,724,000 0.02%
Bny Mellon Strategic Muns In
36.81%
20,023
$122,543,000 0.02%
Nuveen Virginia Qlty Muncpl
No change
10,000
$115,001,000 0.02%
Pinstripes Holdings Inc
No change
35,191
$96,775,000 0.01%
Commscope Hldg Co Inc
Opened
25,250
$31,058,000 0.00%
No transactions found
Showing first 500 out of 193 holdings