Agate Pass Investment Management, LLC

Name: Agate Pass Investment Management, LLC 13F holdings, Q1 2025
Creator: Agate Pass Investment Management, LLC
Published: 2025-04-04

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 4, 2025), Agate Pass Investment Management, LLC reported 107 stock positions worth $233.8 million. Its top holding was Abbvie (ABBV) at 6.1% of the portfolio, followed by Apple (AAPL, 4.5%) and Vanguard Most SM-Cap ETF-Usd (VB, 4.2%). Compared with Q4 2024, it opened 4 new positions, sold out of 4, added to 49 and reduced 42. The biggest buy was Abbvie (ABBV, shares +5%) and the biggest sale Vanguard Most SM-Cap ETF-Usd (VB, shares −9%).

Most Recent 13F: Q2 2026
Location: BAINBRIDGE ISLAND, WA
CIK: 0001900409
Portfolio Value: $233.8M (Q1 2025)
SEC Filing: 0001900409-25-000003 ↗ filed Apr 4, 2025

Holdings Value

Holdings 107 stocks · $233.8M


ABBV Abbvie Inc.	6.10%	68,086	$14.3M	Add +4.8%
AAPL Apple Inc.	4.51%	47,498	$10.6M	Add +1.6%
VB Vanguard Most SM-Cap ETF-Usd	4.23%	44,633	$9.9M	Reduce -8.7%
ABT Abbott Laboratories	3.93%	69,262	$9.2M	Reduce -1.8%
MSFT Microsoft Corp.	3.91%	24,317	$9.1M	Add +2.1%
GOOGL Alphabet Inc. Class A	3.43%	51,798	$8.0M	Add +8.0%
VUG Vanguard Mrngstar GR ETF-Sui	3.26%	20,528	$7.6M	Add +5.3%
JPM JPMorgan Chase & Co.	2.90%	27,599	$6.8M	Add +9.2%
ICSH iShares Ultra Short Duration	2.85%	131,314	$6.7M	Add +31.1%
VEU Vanguard Ftse All-World Ex-U	2.58%	99,591	$6.0M	Reduce -1.9%
JNJ Johnson & Johnson	2.10%	29,554	$4.9M	Add +23.9%
FISV Fiserv Inc.	1.88%	19,939	$4.4M	Reduce -6.8%
CSCO Cisco Systems Inc.	1.80%	67,995	$4.2M	Add +22.8%
IGSB iShares 1-5Y Inv Grade Corp.	1.75%	78,140	$4.1M	Add +6.0%
MA Mastercard Inc. Class A	1.56%	6,637	$3.6M	Reduce -3.2%
IGIB iShares 5-10Y Inv Grade Corp.	1.50%	66,952	$3.5M	Add +3.3%
PEP Pepsico Inc.	1.45%	22,602	$3.4M	Add +17.1%
VOO Vanguard S&P 500 ETF	1.42%	6,472	$3.3M	Reduce -1.1%
ORCL Oracle Corp.	1.40%	23,452	$3.3M	Add +6.6%
ADP Automatic Data Processing	1.38%	10,541	$3.2M	Reduce -4.9%
CPAY Corpay Inc.	1.37%	9,202	$3.2M	Reduce -10.1%
LOW Lowe's Cos Inc.	1.32%	13,226	$3.1M	Reduce -0.1%
RTX RTX Corp.	1.32%	23,267	$3.1M	Add +11.5%
PG The Procter & Gamble Co.	1.30%	17,765	$3.0M	Add +13.4%
DHR Danaher Corp.	1.19%	13,605	$2.8M	Add +0.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	1.13%	37,143	$2.6M	Reduce -2.9%
VCSH Vanguard S/T Corp. Bond ETF	1.08%	31,934	$2.5M	Reduce -0.1%
XLK SS Technology Select Sector	1.06%	12,024	$2.5M	Add +21.3%
COST Costco Wholesale Corp.	1.02%	2,512	$2.4M	Reduce -6.4%
CRM Salesforce Inc.	0.99%	8,585	$2.3M	Add +18.9%
HUBB Hubbell Inc.	0.98%	6,931	$2.3M	Reduce -4.8%
PLD Prologis Inc.	0.93%	19,531	$2.2M	Add +26.9%
XLY SS Consumer Disc Select Sect	0.93%	10,990	$2.2M	Add +40.4%
SCHD Schwab US DVD Equity ETF	0.91%	76,461	$2.1M	Add +4.4%
TXN Texas Instruments Inc.	0.91%	11,828	$2.1M	Add +2.0%
MDT Medtronic PLC	0.90%	23,536	$2.1M	Add +19.2%
XOM Exxon Mobil Corp.	0.90%	17,698	$2.1M	Reduce -4.5%
APD Air Products & Chemicals Inc.	0.87%	6,917	$2.0M	Reduce -1.0%
CVX Chevron Corp.	0.86%	12,023	$2.0M	Add +54.9%
BRK.B Berkshire Hathaway Inc. Class B	0.85%	3,733	$2.0M	Reduce -5.2%
SPY SS SPDR S&P 500 ETF Trust-US	0.80%	3,332	$1.9M	Reduce -3.5%
V Visa Inc. Class A	0.79%	5,270	$1.8M	Add +1.7%
GPC Genuine Parts Co.	0.79%	15,463	$1.8M	Reduce -6.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.79%	7,393	$1.8M	Add +72.6%
GOOG Alphabet Inc. Class C	0.77%	11,556	$1.8M	Add +41.5%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.76%	21,240	$1.8M	Add +45.0%
TRV The Travelers Cos Inc.	0.74%	6,575	$1.7M	Add +83.9%
ENB Enbridge Inc.	0.74%	38,952	$1.7M	Reduce -3.8%
VCIT Vanguard Int-Term Corporate	0.67%	19,220	$1.6M	Add +3.1%
WELL Welltower Inc.	0.63%	9,685	$1.5M	Add +40.1%
AMZN Amazon.com Inc.	0.59%	7,305	$1.4M	Add +41.1%
CPRT Copart Inc.	0.59%	24,394	$1.4M	Reduce -0.6%
AFL Aflac Inc.	0.58%	12,102	$1.3M	Reduce -2.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.57%	13,507	$1.3M	Add +6.4%
XLC SS Comm Select Sector SPDR	0.55%	13,269	$1.3M	Add +3.7%
MRK Merck & Co. Inc.	0.54%	14,165	$1.3M	Add +99.1%
PRU Prudential Financial Inc.	0.54%	11,330	$1.3M	Add +68.3%
NVS Novartis AG-Sponsored ADR	0.53%	11,050	$1.2M	Add +53.1%
SYY Sysco Corp.	0.50%	15,707	$1.2M	Reduce -7.3%
SDY SS SPDR S&P Dividend ETF	0.49%	8,526	$1.2M	Reduce -3.3%
AMGN Amgen Inc.	0.48%	3,600	$1.1M	Reduce -4.6%
ROK Rockwell Automation Inc.	0.47%	4,280	$1.1M	Add +58.2%
IVV iShares Core S&P 500 ETF	0.45%	1,879	$1.1M	Add +3.1%
WWD Woodward Inc.	0.44%	5,673	$1.0M	Reduce -13.3%
UPS United Parcel Service Class B	0.43%	9,235	$1.0M	Add +93.0%
XLE SS Energy Select Sector	0.40%	10,045	$939K	Reduce -0.5%
AMAT Applied Materials Inc.	0.40%	6,435	$934K	Add +1.6%
XLV SS Health Care Select Sector	0.40%	6,389	$933K	Add +34.1%
IWM iShares Russell 2000 ETF	0.40%	4,629	$923K	Reduce -25.5%
NTRS Northern Trust Corp.	0.39%	9,345	$922K	Add +78.2%
NKE Nike Inc. Class B	0.39%	14,488	$920K	Reduce -0.6%
LIN Linde PLC	0.39%	1,949	$908K	Reduce -9.9%
UNH Unitedhealth Group Inc.	0.38%	1,690	$885K	Add +3.7%
VIG Vanguard Dividend Apprec ETF	0.37%	4,440	$861K	No change
AEP American Electric Power	0.36%	7,760	$848K	Add +64.9%
VTI VG Morningstar TS MKT ETF-US	0.33%	2,819	$775K	No change
DLR Digital Realty Trust Inc.	0.31%	4,990	$715K	No change
BLK BlackRock Finance Inc.	0.29%	704	$666K	Add +3.7%
VBR Vngrd Mrngst SL-CP Val ETF-U	0.28%	3,576	$666K	No change
FTV Fortive Corp.	0.28%	9,077	$664K	Reduce -6.1%
DUK Duke Energy Corp.	0.28%	5,397	$658K	Reduce -2.5%
PH Parker Hannifin Corp.	0.27%	1,057	$642K	Reduce -7.5%
USMV iShares MSCI USA Min Vol Fac	0.24%	5,964	$559K	No change
NVO Novo-Nordisk A/S-Spons ADR	0.23%	7,619	$529K	Reduce -5.0%
VCR Vanguard Consumer Discre ETF	0.23%	1,622	$528K	Reduce -3.5%
HES Hess Corp.	0.22%	3,215	$514K	Reduce -18.0%
COP Conocophillips	0.22%	4,833	$508K	Reduce -4.0%
JPST JPMorgan Ultra-Short Income	0.21%	9,810	$497K	Add +47.9%
VTEB Vanguard Tax-Exempt Bond ETF	0.20%	9,268	$460K	Reduce -19.3%
AXP American Express Co.	0.18%	1,570	$422K	Reduce -8.7%
XLP SS Consumer Staples Sel Sect	0.18%	5,126	$419K	New
TTE Totalenergies SE -Spon ADR	0.17%	6,070	$393K	New
ARE Alexandria Real Estate Equit	0.16%	4,050	$375K	New
RJF Raymond James Financial Inc.	0.16%	2,682	$373K	Reduce -9.6%
VYM Vanguard High DVD Yield ETF	0.16%	2,815	$363K	Reduce -0.9%
XLF SS Financial Select Sector	0.15%	7,108	$354K	No change
VBK Van Morst SML-Cap Gro-Usd Inc.	0.15%	1,378	$347K	No change
XLU St Sr Utl SL SE SPDR ETF-Usd	0.15%	4,387	$346K	Add +1.8%
AMT American Tower Corp.	0.14%	1,518	$330K	Reduce -3.1%
SBUX Starbucks Corp.	0.14%	3,323	$326K	No change
SUB iShares Short-Term National	0.14%	3,048	$322K	Add +3.4%
SHW The Sherwin-Williams Co.	0.13%	878	$307K	No change
MCD McDonald's Corp.	0.13%	973	$304K	Reduce -4.9%
RMD Resmed Inc.	0.10%	1,053	$236K	No change
HD Home Depot Inc.	0.10%	607	$222K	No change
BMY Bristol-Myers Squibb Co.	0.09%	3,500	$213K	New
BALL Ball Corp.	0.09%	4,076	$212K	No change

Portfolio Sells Q4 2024 → Q1 2025


VB Vanguard Most SM-Cap ETF-Usd	Reduce -8.7%	4.23%	−1.08
HUBB Hubbell Inc.	Reduce -4.8%	0.98%	−0.40
IWM iShares Russell 2000 ETF	Reduce -25.5%	0.40%	−0.23
CPAY Corpay Inc.	Reduce -10.1%	1.37%	−0.19
VOO Vanguard S&P 500 ETF	Reduce -1.1%	1.42%	−0.17
LOW Lowe's Cos Inc.	Reduce -0.1%	1.32%	−0.16
SHM SS SPDR N Ice St Muni ETF	Sold out	0.00%	−0.14
CMCSA Comcast Corp. Class A	Sold out	0.00%	−0.12
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -3.5%	0.80%	−0.12
NKE Nike Inc. Class B	Reduce -0.6%	0.39%	−0.11
FISV Fiserv Inc.	Reduce -6.8%	1.88%	−0.10
GWW WW Grainger Inc.	Sold out	0.00%	−0.10
FSBW FS Bancorp Inc.	Sold out	0.00%	−0.10
COST Costco Wholesale Corp.	Reduce -6.4%	1.02%	−0.10
ADP Automatic Data Processing	Reduce -4.9%	1.38%	−0.09
NVO Novo-Nordisk A/S-Spons ADR	Reduce -5.0%	0.23%	−0.09
GPC Genuine Parts Co.	Reduce -6.6%	0.79%	−0.09
SYY Sysco Corp.	Reduce -7.3%	0.50%	−0.08
MA Mastercard Inc. Class A	Reduce -3.2%	1.56%	−0.08
VTEB Vanguard Tax-Exempt Bond ETF	Reduce -19.3%	0.20%	−0.06
VCR Vanguard Consumer Discre ETF	Reduce -3.5%	0.23%	−0.06
PH Parker Hannifin Corp.	Reduce -7.5%	0.27%	−0.05
VEU Vanguard Ftse All-World Ex-U	Reduce -1.9%	2.58%	−0.05
AXP American Express Co.	Reduce -8.7%	0.18%	−0.05
VCSH Vanguard S/T Corp. Bond ETF	Reduce -0.1%	1.08%	−0.05
WWD Woodward Inc.	Reduce -13.3%	0.44%	−0.05
RJF Raymond James Financial Inc.	Reduce -9.6%	0.16%	−0.05
CPRT Copart Inc.	Reduce -0.6%	0.59%	−0.05
FTV Fortive Corp.	Reduce -6.1%	0.28%	−0.04
APD Air Products & Chemicals Inc.	Reduce -1.0%	0.87%	−0.04
ENB Enbridge Inc.	Reduce -3.8%	0.74%	−0.04
SDY SS SPDR S&P Dividend ETF	Reduce -3.3%	0.49%	−0.03
LIN Linde PLC	Reduce -9.9%	0.39%	−0.02
HES Hess Corp.	Reduce -18.0%	0.22%	−0.02
COP Conocophillips	Reduce -4.0%	0.22%	−0.01
VYM Vanguard High DVD Yield ETF	Reduce -0.9%	0.16%	−0.01
AFL Aflac Inc.	Reduce -2.8%	0.58%	−0.01
MCD McDonald's Corp.	Reduce -4.9%	0.13%	−0.00
XOM Exxon Mobil Corp.	Reduce -4.5%	0.90%	−0.00
XLE SS Energy Select Sector	Reduce -0.5%	0.40%	+0.01
AMT American Tower Corp.	Reduce -3.1%	0.14%	+0.01
DUK Duke Energy Corp.	Reduce -2.5%	0.28%	+0.01
AMGN Amgen Inc.	Reduce -4.6%	0.48%	+0.04
BRK.B Berkshire Hathaway Inc. Class B	Reduce -5.2%	0.85%	+0.04
WRB WR Berkley Corp.	Reduce -2.9%	1.13%	+0.12
ABT Abbott Laboratories	Reduce -1.8%	3.93%	+0.33

Portfolio Buys Q4 2024 → Q1 2025


ABBV Abbvie Inc.	Add +4.8%	6.10%	+0.88
ICSH iShares Ultra Short Duration	Add +31.1%	2.85%	+0.57
JNJ Johnson & Johnson	Add +23.9%	2.10%	+0.54
IBM Intl Business Machines Corp.	Add +72.6%	0.79%	+0.36
TRV The Travelers Cos Inc.	Add +83.9%	0.74%	+0.35
CVX Chevron Corp.	Add +54.9%	0.86%	+0.35
CSCO Cisco Systems Inc.	Add +22.8%	1.80%	+0.31
BNY Bank of New York Mellon Corp.	Add +45.0%	0.76%	+0.25
WELL Welltower Inc.	Add +40.1%	0.63%	+0.24
RTX RTX Corp.	Add +11.5%	1.32%	+0.23
MRK Merck & Co. Inc.	Add +99.1%	0.54%	+0.22
NVS Novartis AG-Sponsored ADR	Add +53.1%	0.53%	+0.21
PLD Prologis Inc.	Add +26.9%	0.93%	+0.20
MDT Medtronic PLC	Add +19.2%	0.90%	+0.19
PRU Prudential Financial Inc.	Add +68.3%	0.54%	+0.18
XLP SS Consumer Staples Sel Sect	New	0.18%	+0.18
TTE Totalenergies SE -Spon ADR	New	0.17%	+0.17
AEP American Electric Power	Add +64.9%	0.36%	+0.17
UPS United Parcel Service Class B	Add +93.0%	0.43%	+0.16
ARE Alexandria Real Estate Equit	New	0.16%	+0.16
JPM JPMorgan Chase & Co.	Add +9.2%	2.90%	+0.16
NTRS Northern Trust Corp.	Add +78.2%	0.39%	+0.15
XLY SS Consumer Disc Select Sect	Add +40.4%	0.93%	+0.13
ROK Rockwell Automation Inc.	Add +58.2%	0.47%	+0.12
PEP Pepsico Inc.	Add +17.1%	1.45%	+0.12
PG The Procter & Gamble Co.	Add +13.4%	1.30%	+0.11
XLV SS Health Care Select Sector	Add +34.1%	0.40%	+0.10
BMY Bristol-Myers Squibb Co.	New	0.09%	+0.09
AMZN Amazon.com Inc.	Add +41.1%	0.59%	+0.08
GOOG Alphabet Inc. Class C	Add +41.5%	0.77%	+0.07
JPST JPMorgan Ultra-Short Income	Add +47.9%	0.21%	+0.06
V Visa Inc. Class A	Add +1.7%	0.79%	+0.05
IGSB iShares 1-5Y Inv Grade Corp.	Add +6.0%	1.75%	+0.03
XLK SS Technology Select Sector	Add +21.3%	1.06%	+0.02
SCHD Schwab US DVD Equity ETF	Add +4.4%	0.91%	+0.01
UNH Unitedhealth Group Inc.	Add +3.7%	0.38%	+0.01
XLU St Sr Utl SL SE SPDR ETF-Usd	Add +1.8%	0.15%	+0.00
SUB iShares Short-Term National	Add +3.4%	0.14%	−0.00
IGIB iShares 5-10Y Inv Grade Corp.	Add +3.3%	1.50%	−0.00
VCIT Vanguard Int-Term Corporate	Add +3.1%	0.67%	−0.00
XLC SS Comm Select Sector SPDR	Add +3.7%	0.55%	−0.01
BLK BlackRock Finance Inc.	Add +3.7%	0.29%	−0.03
IVV iShares Core S&P 500 ETF	Add +3.1%	0.45%	−0.03
AMAT Applied Materials Inc.	Add +1.6%	0.40%	−0.07
DIS The Walt Disney Co.	Add +6.4%	0.57%	−0.07
TXN Texas Instruments Inc.	Add +2.0%	0.91%	−0.07
CRM Salesforce Inc.	Add +18.9%	0.99%	−0.11
DHR Danaher Corp.	Add +0.2%	1.19%	−0.22
ORCL Oracle Corp.	Add +6.6%	1.40%	−0.25
VUG Vanguard Mrngstar GR ETF-Sui	Add +5.3%	3.26%	−0.36

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	109	$271.2M	GOOGL, AAPL, ABBV, VOO, VB
Q1 2026	105	$255.5M	ABBV, GOOGL, AAPL, VB, VOO
Q4 2025	106	$269.2M	GOOGL, ABBV, AAPL, MSFT, VB
Q3 2025	103	$262.8M	ABBV, MSFT, AAPL, GOOGL, VB
Q2 2025	107	$243.5M	ABBV, MSFT, VB, AAPL, GOOGL
Q1 2025	107	$233.8M	ABBV, AAPL, VB, ABT, MSFT
Q4 2024	107	$221.2M	VB, AAPL, ABBV, MSFT, GOOGL
Q3 2024	94	$200.4M	ABBV, VB, AAPL, MSFT, ABT
Q2 2024	94	$188.0M	ABBV, MSFT, VB, AAPL, GOOGL
Q1 2024	95	$186.4M	ABBV, VB, MSFT, ABT, AAPL