Agate Pass Investment Management, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 24, 2025), Agate Pass Investment Management, LLC reported 107 stock positions worth $243.5 million. Its top holding was Abbvie (ABBV) at 5.2% of the portfolio, followed by Microsoft (MSFT, 5.2%) and Vanguard Most SM-Cap ETF-Usd (VB, 4.1%). Compared with Q1 2025, it opened 3 new positions, sold out of 3, added to 32 and reduced 51. The biggest buy was Amazon.com (AMZN, shares +224%) and the biggest sale Vanguard Mrngstar GR ETF-Sui (VUG, shares −36%).

Most Recent 13F
Q2 2026
Location
BAINBRIDGE ISLAND, WA
CIK
0001900409
Portfolio Value
$243.5M (Q2 2025)
SEC Filing
0001900409-25-000004 ↗ filed Jul 24, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $186.4M Q1 2024 Q2 2024: $188.0M Q2 2024 Q3 2024: $200.4M Q3 2024 Q4 2024: $221.2M Q4 2024 Q1 2025: $233.8M Q1 2025 Q2 2025: $243.5M $243.5M Q2 2025 Q3 2025: $262.8M Q3 2025 Q4 2025: $269.2M Q4 2025 Q1 2026: $255.5M Q1 2026 Q2 2026: $271.2M Q2 2026

Holdings 107 stocks · $243.5M
ABBV Abbvie Inc. 5.19% 68,086 $12.6M No change
MSFT Microsoft Corp. 5.16% 25,273 $12.6M Add +3.9%
VB Vanguard Most SM-Cap ETF-Usd 4.13% 42,427 $10.1M Reduce -4.9%
AAPL Apple Inc. 4.13% 48,995 $10.1M Add +3.1%
GOOGL Alphabet Inc. Class A 3.77% 52,085 $9.2M Add +0.6%
ABT Abbott Laboratories 3.57% 63,997 $8.7M Reduce -7.6%
JPM JPMorgan Chase & Co. 3.25% 27,313 $7.9M Reduce -1.0%
ORCL Oracle Corp. 2.86% 31,892 $7.0M Add +36.0%
VEU Vanguard Ftse All-World Ex-U 2.79% 101,004 $6.8M Add +1.4%
ICSH iShares Ultra Short Duration 2.49% 119,699 $6.1M Reduce -8.8%
VUG Vanguard Mrngstar GR ETF-Sui 2.36% 13,134 $5.8M Reduce -36.0%
AMZN Amazon.com Inc. 2.13% 23,653 $5.2M Add +223.8%
CSCO Cisco Systems Inc. 1.93% 67,596 $4.7M Reduce -0.6%
JNJ Johnson & Johnson 1.83% 29,247 $4.5M Reduce -1.0%
IGSB iShares 1-5Y Inv Grade Corp. 1.67% 76,971 $4.1M Reduce -1.5%
VOO Vanguard S&P 500 ETF 1.57% 6,711 $3.8M Add +3.7%
MA Mastercard Inc. Class A 1.52% 6,579 $3.7M Reduce -0.9%
IGIB iShares 5-10Y Inv Grade Corp. 1.47% 66,947 $3.6M Reduce -0.0%
FISV Fiserv Inc. 1.42% 20,067 $3.5M Add +0.6%
RTX RTX Corp. 1.38% 23,058 $3.4M Reduce -0.9%
ADP Automatic Data Processing 1.30% 10,257 $3.2M Reduce -2.7%
XLK SS Technology Select Sector 1.26% 12,085 $3.1M Add +0.5%
CRM Salesforce Inc. 1.23% 11,022 $3.0M Add +28.4%
CPAY Corpay Inc. 1.23% 9,046 $3.0M Reduce -1.7%
TXN Texas Instruments Inc. 1.20% 14,072 $2.9M Add +19.0%
LOW Lowe's Cos Inc. 1.20% 13,164 $2.9M Reduce -0.5%
COST Costco Wholesale Corp. 1.19% 2,931 $2.9M Add +16.7%
PG The Procter & Gamble Co. 1.17% 17,880 $2.8M Add +0.7%
PEP Pepsico Inc. 1.16% 21,458 $2.8M Reduce -5.1%
HUBB Hubbell Inc. 1.16% 6,926 $2.8M Reduce -0.1%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.11% 36,676 $2.7M Reduce -1.3%
VCSH Vanguard S/T Corp. Bond ETF 1.09% 33,464 $2.7M Add +4.8%
DHR Danaher Corp. 1.07% 13,251 $2.6M Reduce -2.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.89% 7,393 $2.2M No change
PLD Prologis Inc. 0.87% 20,236 $2.1M Add +3.6%
GOOG Alphabet Inc. Class C 0.84% 11,556 $2.0M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.83% 3,284 $2.0M Reduce -1.4%
MDT Medtronic PLC 0.83% 23,094 $2.0M Reduce -1.9%
BRK.B Berkshire Hathaway Inc. Class B 0.83% 4,141 $2.0M Add +10.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.81% 15,993 $2.0M Add +18.4%
SCHD Schwab US DVD Equity ETF 0.80% 73,625 $2.0M Reduce -3.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.79% 21,240 $1.9M No change
APD Air Products & Chemicals Inc. 0.79% 6,835 $1.9M Reduce -1.2%
XOM Exxon Mobil Corp. 0.78% 17,698 $1.9M No change
V Visa Inc. Class A 0.77% 5,305 $1.9M Add +0.7%
GPC Genuine Parts Co. 0.76% 15,188 $1.8M Reduce -1.8%
XLY SS Consumer Disc Select Sect 0.74% 8,301 $1.8M Reduce -24.5%
TRV The Travelers Cos Inc. 0.72% 6,575 $1.8M No change
ENB Enbridge Inc. 0.71% 38,245 $1.7M Reduce -1.8%
CVX Chevron Corp. 0.71% 12,037 $1.7M Add +0.1%
VCIT Vanguard Int-Term Corporate 0.66% 19,383 $1.6M Add +0.8%
WELL Welltower Inc. 0.61% 9,685 $1.5M No change
ROK Rockwell Automation Inc. 0.58% 4,280 $1.4M No change
NVS Novartis AG-Sponsored ADR 0.55% 11,050 $1.3M No change
AFL Aflac Inc. 0.53% 12,352 $1.3M Add +2.1%
WWD Woodward Inc. 0.53% 5,313 $1.3M Reduce -6.3%
AMAT Applied Materials Inc. 0.50% 6,615 $1.2M Add +2.8%
CPRT Copart Inc. 0.49% 24,394 $1.2M No change
SYY Sysco Corp. 0.48% 15,493 $1.2M Reduce -1.4%
NTRS Northern Trust Corp. 0.48% 9,195 $1.2M Reduce -1.6%
SDY SS SPDR S&P Dividend ETF 0.47% 8,516 $1.2M Reduce -0.1%
IVV iShares Core S&P 500 ETF 0.46% 1,785 $1.1M Reduce -5.0%
NKE Nike Inc. Class B 0.42% 14,447 $1.0M Reduce -0.3%
AMGN Amgen Inc. 0.42% 3,620 $1.0M Add +0.6%
PRU Prudential Financial Inc. 0.41% 9,210 $990K Reduce -18.7%
VIG Vanguard Dividend Apprec ETF 0.40% 4,710 $964K Add +6.1%
XLC SS Comm Select Sector SPDR 0.39% 8,642 $938K Reduce -34.9%
LIN Linde PLC 0.38% 1,959 $919K Add +0.5%
XLV SS Health Care Select Sector 0.36% 6,450 $869K Add +0.9%
DLR Digital Realty Trust Inc. 0.36% 4,965 $866K Reduce -0.5%
UNH Unitedhealth Group Inc. 0.35% 2,758 $861K Add +63.2%
XLE SS Energy Select Sector 0.35% 10,018 $850K Reduce -0.3%
BLK BlackRock Inc. 0.34% 795 $834K Add +12.9%
VTI VG Morningstar TS MKT ETF-US 0.33% 2,660 $808K Reduce -5.6%
IWM iShares Russell 2000 ETF 0.29% 3,329 $718K Reduce -28.1%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.28% 3,503 $683K Reduce -2.0%
PH Parker Hannifin Corp. 0.27% 943 $659K Reduce -10.8%
QQQ Invesco QQQ Trust Series 1 0.26% 1,150 $634K New
DUK Duke Energy Corp. 0.26% 5,297 $625K Reduce -1.9%
NVO Novo-Nordisk A/S-Spons ADR 0.23% 8,269 $571K Add +8.5%
USMV iShares MSCI USA Min Vol Fac 0.22% 5,832 $547K Reduce -2.2%
MRK Merck & Co. Inc. 0.22% 6,840 $541K Reduce -51.7%
JPST JPMorgan Ultra-Short Income 0.21% 9,902 $502K Add +0.9%
AXP American Express Co. 0.21% 1,570 $501K No change
XLP SS Consumer Staples Sel Sect 0.20% 6,051 $490K Add +18.1%
FTV Fortive Corp. 0.18% 8,577 $447K Reduce -5.5%
VCR Vanguard Consumer Discre ETF 0.18% 1,222 $443K Reduce -24.7%
VTEB Vanguard Tax-Exempt Bond ETF 0.18% 8,807 $432K Reduce -5.0%
HES Hess Corp. 0.18% 3,115 $432K Reduce -3.1%
COP Conocophillips 0.17% 4,643 $417K Reduce -3.9%
AEP American Electric Power 0.17% 3,985 $413K Reduce -48.6%
RJF Raymond James Financial Inc. 0.17% 2,682 $411K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.16% 1,378 $382K No change
XLF SS Financial Select Sector 0.15% 7,108 $372K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.14% 4,324 $353K Reduce -1.4%
AMT American Tower Corp. 0.14% 1,518 $336K No change
SUB iShares Short-Term National 0.13% 3,048 $324K No change
SBUX Starbucks Corp. 0.13% 3,473 $318K Add +4.5%
VYM Vanguard High DVD Yield ETF 0.13% 2,328 $310K Reduce -17.3%
SHW The Sherwin-Williams Co. 0.12% 878 $301K No change
MCD McDonald's Corp. 0.12% 973 $284K No change
RMD Resmed Inc. 0.11% 1,053 $272K No change
BALL Ball Corp. 0.09% 4,076 $229K No change
HD Home Depot Inc. 0.09% 607 $223K No change
FSBW FS Bancorp Inc. 0.08% 5,240 $206K New
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.08% 709 $202K New
TTE Totalenergies SE -Spon ADR 0.08% 3,270 $201K Reduce -46.1%

Portfolio Sells Q1 2025 → Q2 2025
VUG Vanguard Mrngstar GR ETF-Sui Reduce -36.0% 2.36% −0.89
UPS United Parcel Service Class B Sold out 0.00% −0.43
ABT Abbott Laboratories Reduce -7.6% 3.57% −0.36
ICSH iShares Ultra Short Duration Reduce -8.8% 2.49% −0.36
MRK Merck & Co. Inc. Reduce -51.7% 0.22% −0.32
PEP Pepsico Inc. Reduce -5.1% 1.16% −0.29
JNJ Johnson & Johnson Reduce -1.0% 1.83% −0.26
AEP American Electric Power Reduce -48.6% 0.17% −0.19
XLY SS Consumer Disc Select Sect Reduce -24.5% 0.74% −0.19
XLC SS Comm Select Sector SPDR Reduce -34.9% 0.39% −0.16
ARE Alexandria Real Estate Equit Sold out 0.00% −0.16
CPAY Corpay Inc. Reduce -1.7% 1.23% −0.14
PRU Prudential Financial Inc. Reduce -18.7% 0.41% −0.14
LOW Lowe's Cos Inc. Reduce -0.5% 1.20% −0.12
DHR Danaher Corp. Reduce -2.6% 1.07% −0.12
SCHD Schwab US DVD Equity ETF Reduce -3.7% 0.80% −0.11
VB Vanguard Most SM-Cap ETF-Usd Reduce -4.9% 4.13% −0.11
FTV Fortive Corp. Reduce -5.5% 0.18% −0.10
IWM iShares Russell 2000 ETF Reduce -28.1% 0.29% −0.10
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.09
TTE Totalenergies SE -Spon ADR Reduce -46.1% 0.08% −0.09
IGSB iShares 1-5Y Inv Grade Corp. Reduce -1.5% 1.67% −0.08
APD Air Products & Chemicals Inc. Reduce -1.2% 0.79% −0.08
ADP Automatic Data Processing Reduce -2.7% 1.30% −0.08
MDT Medtronic PLC Reduce -1.9% 0.83% −0.08
XLE SS Energy Select Sector Reduce -0.3% 0.35% −0.05
COP Conocophillips Reduce -3.9% 0.17% −0.05
VCR Vanguard Consumer Discre ETF Reduce -24.7% 0.18% −0.04
HES Hess Corp. Reduce -3.1% 0.18% −0.04
IGIB iShares 5-10Y Inv Grade Corp. Reduce -0.0% 1.47% −0.04
MA Mastercard Inc. Class A Reduce -0.9% 1.52% −0.04
GPC Genuine Parts Co. Reduce -1.8% 0.76% −0.03
VYM Vanguard High DVD Yield ETF Reduce -17.3% 0.13% −0.03
ENB Enbridge Inc. Reduce -1.8% 0.71% −0.03
DUK Duke Energy Corp. Reduce -1.9% 0.26% −0.02
WRB WR Berkley Corp. Reduce -1.3% 1.11% −0.02
SYY Sysco Corp. Reduce -1.4% 0.48% −0.02
SDY SS SPDR S&P Dividend ETF Reduce -0.1% 0.47% −0.02
VTEB Vanguard Tax-Exempt Bond ETF Reduce -5.0% 0.18% −0.02
USMV iShares MSCI USA Min Vol Fac Reduce -2.2% 0.22% −0.01
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -2.0% 0.28% −0.00
PH Parker Hannifin Corp. Reduce -10.8% 0.27% −0.00
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -1.4% 0.14% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -5.6% 0.33% +0.00
IVV iShares Core S&P 500 ETF Reduce -5.0% 0.46% +0.00
NKE Nike Inc. Class B Reduce -0.3% 0.42% +0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.4% 0.83% +0.04
DLR Digital Realty Trust Inc. Reduce -0.5% 0.36% +0.05
RTX RTX Corp. Reduce -0.9% 1.38% +0.06
NTRS Northern Trust Corp. Reduce -1.6% 0.48% +0.08

Portfolio Buys Q1 2025 → Q2 2025
AMZN Amazon.com Inc. Add +223.8% 2.13% +1.54
ORCL Oracle Corp. Add +36.0% 2.86% +1.46
MSFT Microsoft Corp. Add +3.9% 5.16% +1.26
GOOGL Alphabet Inc. Class A Add +0.6% 3.77% +0.34
TXN Texas Instruments Inc. Add +19.0% 1.20% +0.29
QQQ Invesco QQQ Trust Series 1 New 0.26% +0.26
CRM Salesforce Inc. Add +28.4% 1.23% +0.25
DIS The Walt Disney Co. Add +18.4% 0.81% +0.24
VEU Vanguard Ftse All-World Ex-U Add +1.4% 2.79% +0.20
XLK SS Technology Select Sector Add +0.5% 1.26% +0.19
COST Costco Wholesale Corp. Add +16.7% 1.19% +0.18
VOO Vanguard S&P 500 ETF Add +3.7% 1.57% +0.14
AMAT Applied Materials Inc. Add +2.8% 0.50% +0.10
FSBW FS Bancorp Inc. New 0.08% +0.08
VOT Vngrd Mrngstr MC GRW ETF-Usd New 0.08% +0.08
BLK BlackRock Inc. Add +12.9% 0.34% +0.06
VIG Vanguard Dividend Apprec ETF Add +6.1% 0.40% +0.03
XLP SS Consumer Staples Sel Sect Add +18.1% 0.20% +0.02
VCSH Vanguard S/T Corp. Bond ETF Add +4.8% 1.09% +0.01
NVO Novo-Nordisk A/S-Spons ADR Add +8.5% 0.23% +0.01
JPST JPMorgan Ultra-Short Income Add +0.9% 0.21% −0.01
SBUX Starbucks Corp. Add +4.5% 0.13% −0.01
LIN Linde PLC Add +0.5% 0.38% −0.01
VCIT Vanguard Int-Term Corporate Add +0.8% 0.66% −0.01
V Visa Inc. Class A Add +0.7% 0.77% −0.02
BRK.B Berkshire Hathaway Inc. Class B Add +10.9% 0.83% −0.02
UNH Unitedhealth Group Inc. Add +63.2% 0.35% −0.03
AFL Aflac Inc. Add +2.1% 0.53% −0.04
XLV SS Health Care Select Sector Add +0.9% 0.36% −0.04
PLD Prologis Inc. Add +3.6% 0.87% −0.06
AMGN Amgen Inc. Add +0.6% 0.42% −0.06
PG The Procter & Gamble Co. Add +0.7% 1.17% −0.13
CVX Chevron Corp. Add +0.1% 0.71% −0.15
AAPL Apple Inc. Add +3.1% 4.13% −0.39
FISV Fiserv Inc. Add +0.6% 1.42% −0.46

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 109$271.2MGOOGL, AAPL, ABBV, VOO, VB
Q1 2026 105$255.5MABBV, GOOGL, AAPL, VB, VOO
Q4 2025 106$269.2MGOOGL, ABBV, AAPL, MSFT, VB
Q3 2025 103$262.8MABBV, MSFT, AAPL, GOOGL, VB
Q2 2025 107$243.5MABBV, MSFT, VB, AAPL, GOOGL
Q1 2025 107$233.8MABBV, AAPL, VB, ABT, MSFT
Q4 2024 107$221.2MVB, AAPL, ABBV, MSFT, GOOGL
Q3 2024 94$200.4MABBV, VB, AAPL, MSFT, ABT
Q2 2024 94$188.0MABBV, MSFT, VB, AAPL, GOOGL
Q1 2024 95$186.4MABBV, VB, MSFT, ABT, AAPL