# EDGAR Filing Document

**Accession Number:** 0001900481
**File Stem:** 0001900481-25-000009
**Filing Date:** 2025-10
**Character Count:** 13930
**Document Hash:** 447324d583929fb6a686c19d9fd72a17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001900481-25-000009.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001900481-25-000009

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**EFFECTIVENESS DATE**: 20251030

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Carmel Capital Partners, LLC
- **CENTRAL INDEX KEY:** 0001900481

**ORGANIZATION NAME:**
- **EIN:** 680525428
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21543
- **FILM NUMBER:** 251434342

**BUSINESS ADDRESS:**
- **STREET 1:** 12760 HIGH BLUFF DRIVE, SUITE 210
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130
- **BUSINESS PHONE:** 858-457-7544

**MAIL ADDRESS:**
- **STREET 1:** 12760 HIGH BLUFF DRIVE, SUITE 210
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Carmel Capital Partners LLC<br>**Address:** 12760 HIGH BLUFF DRIVE SUITE 210<br>SAN DIEGO, CA 92130

**Form 13F File Number:** 028-21543

**CRD Number (if applicable):** 000123907

**SEC File Number (if applicable):** 801-64695

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Russell Silberstein<br>**Title:** Chief Compliance Officer<br>**Phone:** 858-457-7544

**Signature, Place, and Date of Signing:**

Russell Silberstein  San Diego, CA  10-29-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 104

**Form 13F Information Table Value Total:** $237199301

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABS | COM | 002824100 |  | 208143 | 1554 | SH |  | SOLE |  | 0 | 0 | 1554 |
| ABBVIE INC | COM | 00287Y109 |  | 451271 | 1949 | SH |  | SOLE |  | 0 | 0 | 1949 |
| ADEIA INC | COM | 00676P107 |  | 213091 | 12684 | SH |  | SOLE |  | 0 | 0 | 12684 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 1033982 | 8056 | SH |  | SOLE |  | 0 | 0 | 8056 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 338395 | 1392 | SH |  | SOLE |  | 0 | 0 | 1392 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3600076 | 14782 | SH |  | SOLE |  | 0 | 0 | 14782 |
| AMAZON COM INC | COM | 023135106 |  | 461536 | 2102 | SH |  | SOLE |  | 0 | 0 | 2102 |
| API GROUP CORP | COM STK | 00187Y100 |  | 2745235 | 79873 | SH |  | SOLE |  | 0 | 0 | 79873 |
| APOLLO COML REAL EST FIN INC | COM | 03762U105 |  | 2275340 | 224614 | SH |  | SOLE |  | 0 | 0 | 224614 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 1824379 | 13689 | SH |  | SOLE |  | 0 | 0 | 13689 |
| APPLE INC | COM | 037833100 |  | 2415166 | 9485 | SH |  | SOLE |  | 0 | 0 | 9485 |
| APPLIED MATLS INC | COM | 038222105 |  | 1957671 | 9562 | SH |  | SOLE |  | 0 | 0 | 9562 |
| BERKLEY W R CORP | COM | 084423102 |  | 554269 | 7234 | SH |  | SOLE |  | 0 | 0 | 7234 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 312704 | 622 | SH |  | SOLE |  | 0 | 0 | 622 |
| BLACKROCK INC | COM | 09290D101 |  | 201696 | 173 | SH |  | SOLE |  | 0 | 0 | 173 |
| BLACKSTONE INC | COM | 09260D107 |  | 424221 | 2483 | SH |  | SOLE |  | 0 | 0 | 2483 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 1311816 | 102726 | SH |  | SOLE |  | 0 | 0 | 102726 |
| BOEING CO | COM | 097023105 |  | 971451 | 4501 | SH |  | SOLE |  | 0 | 0 | 4501 |
| BROADCOM INC | COM | 11135F101 |  | 364221 | 1104 | SH |  | SOLE |  | 0 | 0 | 1104 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 2059658 | 30033 | SH |  | SOLE |  | 0 | 0 | 30033 |
| CAPITAL GRP FIXED INCM ETF T | US MULTI-SECTOR | 14020Y300 |  | 4755434 | 171367 | SH |  | SOLE |  | 0 | 0 | 171367 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 1537591 | 7233 | SH |  | SOLE |  | 0 | 0 | 7233 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 1211731 | 20297 | SH |  | SOLE |  | 0 | 0 | 20297 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 255562 | 276 | SH |  | SOLE |  | 0 | 0 | 276 |
| CROWN HLDGS INC | COM | 228368106 |  | 1216981 | 12599 | SH |  | SOLE |  | 0 | 0 | 12599 |
| D R HORTON INC | COM | 23331A109 |  | 1309495 | 7727 | SH |  | SOLE |  | 0 | 0 | 7727 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 1948871 | 18857 | SH |  | SOLE |  | 0 | 0 | 18857 |
| DOORDASH INC | CL A | 25809K105 |  | 681063 | 2504 | SH |  | SOLE |  | 0 | 0 | 2504 |
| ELI LILLY  CO | COM | 532457108 |  | 262472 | 344 | SH |  | SOLE |  | 0 | 0 | 344 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 1796628 | 2766 | SH |  | SOLE |  | 0 | 0 | 2766 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 274499 | 24100 | SH |  | SOLE |  | 0 | 0 | 24100 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 358094 | 3176 | SH |  | SOLE |  | 0 | 0 | 3176 |
| GITLAB INC | CLASS A COM | 37637K108 |  | 1261924 | 27993 | SH |  | SOLE |  | 0 | 0 | 27993 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 1850987 | 4343 | SH |  | SOLE |  | 0 | 0 | 4343 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 1385928 | 5342 | SH |  | SOLE |  | 0 | 0 | 5342 |
| HOME DEPOT INC | COM | 437076102 |  | 32082805 | 79180 | SH |  | SOLE |  | 0 | 0 | 79180 |
| ILLUMINA INC | COM | 452327109 |  | 379975 | 4001 | SH |  | SOLE |  | 0 | 0 | 4001 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 1447265 | 17517 | SH |  | SOLE |  | 0 | 0 | 17517 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 1630364 | 9677 | SH |  | SOLE |  | 0 | 0 | 9677 |
| INVESCO EXCH TRD SLF IDX FD | INVSCO BLSH 28 | 46138J643 |  | 4541198 | 220768 | SH |  | SOLE |  | 0 | 0 | 220768 |
| INVESCO EXCH TRD SLF IDX FD | BULETSHS 2031 CP | 46138J429 |  | 4590570 | 275214 | SH |  | SOLE |  | 0 | 0 | 275214 |
| INVESCO EXCH TRD SLF IDX FD | BULETSHS 2029 | 46138J577 |  | 4570096 | 242961 | SH |  | SOLE |  | 0 | 0 | 242961 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 1907567 | 10043 | SH |  | SOLE |  | 0 | 0 | 10043 |
| ISHARES TR | IBONDS 28 TRM TS | 46436E833 |  | 4212521 | 188185 | SH |  | SOLE |  | 0 | 0 | 188185 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 210861 | 4128 | SH |  | SOLE |  | 0 | 0 | 4128 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 885385 | 8832 | SH |  | SOLE |  | 0 | 0 | 8832 |
| ISHARES TR | CORE S ETF | 464287200 |  | 240948 | 360 | SH |  | SOLE |  | 0 | 0 | 360 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 261884 | 717 | SH |  | SOLE |  | 0 | 0 | 717 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 523491 | 8002 | SH |  | SOLE |  | 0 | 0 | 8002 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 554841 | 1759 | SH |  | SOLE |  | 0 | 0 | 1759 |
| KONINKLIJKE PHILIPS N V | NY REGIS SHS NEW | 500472303 |  | 1994914 | 73181 | SH |  | SOLE |  | 0 | 0 | 73181 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 1728322 | 6021 | SH |  | SOLE |  | 0 | 0 | 6021 |
| LENNAR CORP | CL A | 526057104 |  | 12597194 | 99946 | SH |  | SOLE |  | 0 | 0 | 99946 |
| LENNAR CORP | CL B | 526057302 |  | 3001910 | 25018 | SH |  | SOLE |  | 0 | 0 | 25018 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 1480997 | 14179 | SH |  | SOLE |  | 0 | 0 | 14179 |
| MARKEL GROUP INC | COM | 570535104 |  | 919364 | 481 | SH |  | SOLE |  | 0 | 0 | 481 |
| MCDONALDS CORP | COM | 580135101 |  | 409948 | 1349 | SH |  | SOLE |  | 0 | 0 | 1349 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 1558739 | 667 | SH |  | SOLE |  | 0 | 0 | 667 |
| META PLATFORMS INC | CL A | 30303M102 |  | 869506 | 1184 | SH |  | SOLE |  | 0 | 0 | 1184 |
| MICROSOFT CORP | COM | 594918104 |  | 801179 | 1547 | SH |  | SOLE |  | 0 | 0 | 1547 |
| MILLROSE PPTYS INC | COM CL A | 601137102 |  | 2442943 | 72685 | SH |  | SOLE |  | 0 | 0 | 72685 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1204917 | 7580 | SH |  | SOLE |  | 0 | 0 | 7580 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1666668 | 22078 | SH |  | SOLE |  | 0 | 0 | 22078 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1900696 | 10187 | SH |  | SOLE |  | 0 | 0 | 10187 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 1650504 | 33472 | SH |  | SOLE |  | 0 | 0 | 33472 |
| ORACLE CORP | COM | 68389X105 |  | 2820437 | 10029 | SH |  | SOLE |  | 0 | 0 | 10029 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 20692265 | 113432 | SH |  | SOLE |  | 0 | 0 | 113432 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 229887 | 1129 | SH |  | SOLE |  | 0 | 0 | 1129 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 1019672 | 9893 | SH |  | SOLE |  | 0 | 0 | 9893 |
| QUALCOMM INC | COM | 747525103 |  | 3662958 | 22018 | SH |  | SOLE |  | 0 | 0 | 22018 |
| QXO INC | COM NEW | 82846H405 |  | 883622 | 46360 | SH |  | SOLE |  | 0 | 0 | 46360 |
| RH | COM | 74967X103 |  | 934536 | 4600 | SH |  | SOLE |  | 0 | 0 | 4600 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 1443728 | 4130 | SH |  | SOLE |  | 0 | 0 | 4130 |
| RPM INTL INC | COM | 749685103 |  | 1696901 | 14395 | SH |  | SOLE |  | 0 | 0 | 14395 |
| SALESFORCE INC | COM | 79466L302 |  | 729486 | 3078 | SH |  | SOLE |  | 0 | 0 | 3078 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 2320128 | 24302 | SH |  | SOLE |  | 0 | 0 | 24302 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 509945 | 19360 | SH |  | SOLE |  | 0 | 0 | 19360 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 351533 | 12877 | SH |  | SOLE |  | 0 | 0 | 12877 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 1161745 | 6500 | SH |  | SOLE |  | 0 | 0 | 6500 |
| SERIES PORTFOLIOS TR | ELDRIDGE BBB B | 81752T528 |  | 5671304 | 211458 | SH |  | SOLE |  | 0 | 0 | 211458 |
| SERIES PORTFOLIOS TR | ELDRIDGE AAA CLO | 81752T486 |  | 4418112 | 172785 | SH |  | SOLE |  | 0 | 0 | 172785 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 446467 | 2379 | SH |  | SOLE |  | 0 | 0 | 2379 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 445935 | 5692 | SH |  | SOLE |  | 0 | 0 | 5692 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 2148313 | 110909 | SH |  | SOLE |  | 0 | 0 | 110909 |
| STRYKER CORPORATION | COM | 863667101 |  | 1340423 | 3626 | SH |  | SOLE |  | 0 | 0 | 3626 |
| TECHNIPFMC PLC | COM | G87110105 |  | 295875 | 7500 | SH |  | SOLE |  | 0 | 0 | 7500 |
| TESLA INC | COM | 88160R101 |  | 4605076 | 10355 | SH |  | SOLE |  | 0 | 0 | 10355 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 1443847 | 5171 | SH |  | SOLE |  | 0 | 0 | 5171 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1320342 | 13477 | SH |  | SOLE |  | 0 | 0 | 13477 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 822436 | 9846 | SH |  | SOLE |  | 0 | 0 | 9846 |
| VANECK ETF TRUST | PREFERRED SECURT | 92189F429 |  | 4988039 | 280700 | SH |  | SOLE |  | 0 | 0 | 280700 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 908909 | 11639 | SH |  | SOLE |  | 0 | 0 | 11639 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 943466 | 1541 | SH |  | SOLE |  | 0 | 0 | 1541 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 955751 | 3254 | SH |  | SOLE |  | 0 | 0 | 3254 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 274296 | 1079 | SH |  | SOLE |  | 0 | 0 | 1079 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 214922 | 448 | SH |  | SOLE |  | 0 | 0 | 448 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 875795 | 2669 | SH |  | SOLE |  | 0 | 0 | 2669 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 383559 | 7079 | SH |  | SOLE |  | 0 | 0 | 7079 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 384684 | 5390 | SH |  | SOLE |  | 0 | 0 | 5390 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 845852 | 14116 | SH |  | SOLE |  | 0 | 0 | 14116 |
| VICI PPTYS INC | COM | 925652109 |  | 349188 | 10708 | SH |  | SOLE |  | 0 | 0 | 10708 |
| W  T OFFSHORE INC | COM | 92922P106 |  | 100100 | 55000 | SH |  | SOLE |  | 0 | 0 | 55000 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 |  | 27151380 | 540111 | SH |  | SOLE |  | 0 | 0 | 540111 |
| ZILLOW GROUP INC | CL C CAP STK | 98954M200 |  | 1309234 | 16992 | SH |  | SOLE |  | 0 | 0 | 16992 |

---