DOSSIER · 13F-HR · Q3 2026

Asio Capital, LLC

$816M in tracked AUM across 131 positions as of Q3 2026.

AC
CIK 0001803291 · last filed Sep 30, 2026
Total AUM
$816M
as of Q3 2026
Holdings
131
—
positions
Whale Score
59
59
tracked
Activity
—
no data
changes this Q
AI Analysis · Q3 2026

Asio Capital's $712.1 million Q1 2026 book grew just 0.5% overall, but a clear duration-shortening move sits inside the near-flat headline. The manager exited iShares National Muni Bond ETF (MUB) entirely — a $6.8 million position — while adding $13.4 million to JPMorgan Ultra-Short Municipal Income (JMUB), now the fund's second-largest position at 6.4% of assets (up from 4.6%), and opening a new $9.1 million stake in Goldman Sachs Ultra-Short Municipal Income (GMUB). A new $4.6 million position in Vanguard Tax-Exempt Bond (VTEB) rounds out the tax-exempt sleeve. Combined, roughly $27 million of net new capital moved into shorter-duration and broader tax-exempt vehicles even as the standard-duration muni fund was dropped. On the equity side, Microsoft (MSFT) stands out: Asio added 16.5% more shares even as the position's dollar value fell 10.8% on price weakness — a real increase in conviction, not just a rounding move, unlike the much smaller (under 1.3%) share upticks in Nvidia (NVDA), Alphabet (GOOG), and Broadcom (AVGO), where dollar declines were purely price-driven. New equity stakes also opened in Johnson & Johnson (JNJ), Goldman Sachs (GS) as an individual stock, Tractor Supply (TSCO), and American Express (AXP), while AstraZeneca (AZN), Wells Fargo (WFC), Booking Holdings (BKNG), and Deckers Outdoor (DECK) were sold outright.

The clearest theme in the filing is duration-shortening within municipal bonds. iShares National Muni Bond ETF (MUB), a standard-duration fund, was exited entirely — a $6.8 million position, gone completely. In its place, Asio poured capital into shorter-duration alternatives: JPMorgan Ultra-Short Municipal Income (JMUB) grew 43% in shares, adding $13.4 million to become the fund's second-largest position at 6.4% of assets, up from 4.6%. A new $9.1 million stake in Goldman Sachs Ultra-Short Municipal Income (GMUB) opened alongside it, and a further $4.6 million went into Vanguard Tax-Exempt Bond (VTEB), a broader but still tax-exempt vehicle. Combined, roughly $27 million of fresh capital moved into these three funds against the $6.8 million pulled from MUB — this isn't a retreat from municipal bonds, it's a shift toward shorter duration and different providers.

On the equity side, the standout move is Microsoft (MSFT). Asio added 16.5% more shares this quarter, a real and meaningful increase, even as the position's dollar value fell 10.8% to $16.6 million because the stock's price declined. That's buying into weakness, not passively holding through it. Compare that to Nvidia (NVDA), Alphabet (GOOG), and Broadcom (AVGO) — all three show dollar declines in the same range (6-10%) but share-count changes under 1.3%, essentially flat. Only Microsoft saw genuine incremental buying against falling prices.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q3 2026. Methodology

Quarter at a glance — Q3 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q3 2026.

#HoldingValueSharesWeight
01
IVV
ISHARES TR
$106M138K13.0%
02
NVDA
NVIDIA CORPORATION
$37M162K4.5%
03
JMUB
J P MORGAN EXCHANGE TRADED F
$30M631K3.7%
04
GOOG
ALPHABET INC
$28M82K3.4%
05
PANW
PALO ALTO NETWORKS INC
$24M61K3.0%
06
MSFT
MICROSOFT CORP
$23M44K2.8%
07
VCRM
VANGUARD MUN BD FDS
$21M300K2.6%
08
META
META PLATFORMS INC
$20M28K2.5%
09
TMSL
T ROWE PRICE EXCHANGE-TRADED
$20M485K2.4%
10
AMZN
AMAZON COM INC
$20M78K2.4%

Filing history

2026Q3Sep 30
$816M▲ 4.5%
131 positionsView →
2026Q2Jun 30
$781M▲ 9.7%
109 positionsView →
2026Q1Mar 31
$712M▲ 0.5%
110 positionsView →
2025Q4Dec 31
$709M▲ 6.1%
111 positionsView →
2025Q3Sep 30
$668M▲ 11.3%
109 positionsLocked
2025Q2Jun 30
$600M▲ 16.0%
109 positionsLocked
2025Q1Mar 31
$517M▼ 2.3%
106 positionsLocked
2024Q4Dec 31
$529M▲ 0.5%
104 positionsLocked
2024Q3Sep 30
$527M▲ 7.8%
106 positionsLocked
2024Q2Jun 30
$489M▲ 3.7%
96 positionsLocked
2024Q1Mar 31
$471M▲ 10.0%
97 positionsLocked
2023Q4Dec 31
$428M▲ 14.0%
99 positionsLocked
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