Agate Pass Investment Management, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 8, 2025), Agate Pass Investment Management, LLC reported 103 stock positions worth $262.8 million. Its top holding was Abbvie (ABBV) at 5.9% of the portfolio, followed by Microsoft (MSFT, 5.2%) and Apple (AAPL, 5.0%). Compared with Q2 2025, it opened 1 new position, sold out of 5, added to 35 and reduced 47. The biggest buy was Vanguard Mrngstar GR ETF-Sui (VUG, shares +49%) and the biggest sale iShares Ultra Short Duration (ICSH, shares −25%).

Most Recent 13F
Q2 2026
Location
BAINBRIDGE ISLAND, WA
CIK
0001900409
Portfolio Value
$262.8M (Q3 2025)
SEC Filing
0001900409-25-000008 ↗ filed Oct 8, 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 Q2 2025 Q3 2025: $262.8M $262.8M Q3 2025 Q4 2025: $269.2M Q4 2025 Q1 2026: $255.5M Q1 2026 Q2 2026: $271.2M Q2 2026

Holdings 103 stocks · $262.8M
ABBV Abbvie Inc. 5.94% 67,375 $15.6M Reduce -1.0%
MSFT Microsoft Corp. 5.16% 26,172 $13.6M Add +3.6%
AAPL Apple Inc. 4.97% 51,259 $13.1M Add +4.6%
GOOGL Alphabet Inc. Class A 4.88% 52,730 $12.8M Add +1.2%
VB Vanguard Most SM-Cap ETF-Usd 4.06% 41,960 $10.7M Reduce -1.1%
VUG Vanguard Mrngstar GR ETF-Sui 3.57% 19,584 $9.4M Add +49.1%
ORCL Oracle Corp. 3.40% 31,732 $8.9M Reduce -0.5%
JPM JPMorgan Chase & Co. 3.26% 27,124 $8.6M Reduce -0.7%
ABT Abbott Laboratories 3.20% 62,874 $8.4M Reduce -1.8%
VEU Vanguard Ftse All-World Ex-U 2.73% 100,450 $7.2M Reduce -0.6%
AMZN Amazon.com Inc. 2.25% 26,987 $5.9M Add +14.1%
JNJ Johnson & Johnson 2.01% 28,544 $5.3M Reduce -2.4%
VOO Vanguard S&P 500 ETF 1.92% 8,260 $5.1M Add +23.1%
ICSH iShares Ultra Short Duration 1.74% 89,959 $4.6M Reduce -24.9%
CSCO Cisco Systems Inc. 1.73% 66,612 $4.6M Reduce -1.5%
IGSB iShares 1-5Y Inv Grade Corp. 1.55% 76,738 $4.1M Reduce -0.3%
IGIB iShares 5-10Y Inv Grade Corp. 1.49% 72,190 $3.9M Add +7.8%
RTX RTX Corp. 1.46% 22,895 $3.8M Reduce -0.7%
MA Mastercard Inc. Class A 1.45% 6,685 $3.8M Add +1.6%
XLK SS Technology Select Sector 1.41% 13,174 $3.7M Add +9.0%
LOW Lowe's Cos Inc. 1.25% 13,125 $3.3M Reduce -0.3%
COST Costco Wholesale Corp. 1.17% 3,328 $3.1M Add +13.5%
HUBB Hubbell Inc. 1.12% 6,851 $2.9M Reduce -1.1%
ADP Automatic Data Processing 1.12% 10,001 $2.9M Reduce -2.5%
VCSH Vanguard S/T Corp. Bond ETF 1.09% 35,900 $2.9M Add +7.3%
PEP Pepsico Inc. 1.09% 20,373 $2.9M Reduce -5.1%
GOOG Alphabet Inc. Class C 1.08% 11,635 $2.8M Add +0.7%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.06% 36,526 $2.8M Reduce -0.4%
CPAY Corpay Inc. 1.02% 9,325 $2.7M Add +3.1%
DHR Danaher Corp. 1.02% 13,500 $2.7M Add +1.9%
TXN Texas Instruments Inc. 1.00% 14,270 $2.6M Add +1.4%
FISV Fiserv Inc. 0.94% 19,080 $2.5M Reduce -4.9%
PG The Procter & Gamble Co. 0.91% 15,506 $2.4M Reduce -13.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.89% 3,515 $2.3M Add +7.0%
PLD Prologis Inc. 0.89% 20,403 $2.3M Add +0.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.88% 21,240 $2.3M No change
CVX Chevron Corp. 0.88% 14,892 $2.3M Add +23.7%
BRK.B Berkshire Hathaway Inc. Class B 0.85% 4,436 $2.2M Add +7.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.79% 7,393 $2.1M No change
XOM Exxon Mobil Corp. 0.76% 17,699 $2.0M Add +0.0%
CRM Salesforce Inc. 0.74% 8,208 $1.9M Reduce -25.5%
MDT Medtronic PLC 0.73% 20,085 $1.9M Reduce -13.0%
ENB Enbridge Inc. 0.72% 37,545 $1.9M Reduce -1.8%
XLY SS Consumer Disc Select Sect 0.72% 7,847 $1.9M Reduce -5.5%
GPC Genuine Parts Co. 0.70% 13,246 $1.8M Reduce -12.8%
TRV The Travelers Cos Inc. 0.70% 6,575 $1.8M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.69% 15,893 $1.8M Reduce -0.6%
APD Air Products & Chemicals Inc. 0.69% 6,667 $1.8M Reduce -2.5%
V Visa Inc. Class A 0.69% 5,316 $1.8M Add +0.2%
SCHD Schwab US DVD Equity ETF 0.66% 63,213 $1.7M Reduce -14.1%
WELL Welltower Inc. 0.65% 9,585 $1.7M Reduce -1.0%
VCIT Vanguard Int-Term Corporate 0.64% 20,018 $1.7M Add +3.3%
ROK Rockwell Automation Inc. 0.57% 4,280 $1.5M No change
AMAT Applied Materials Inc. 0.56% 7,161 $1.5M Add +8.3%
NVS Novartis AG-Sponsored ADR 0.54% 11,050 $1.4M No change
AFL Aflac Inc. 0.52% 12,152 $1.4M Reduce -1.6%
NTRS Northern Trust Corp. 0.47% 9,095 $1.2M Reduce -1.1%
XLC SS Comm Select Sector SPDR 0.47% 10,342 $1.2M Add +19.7%
SYY Sysco Corp. 0.46% 14,614 $1.2M Reduce -5.7%
IVV iShares Core S&P 500 ETF 0.45% 1,772 $1.2M Reduce -0.7%
SDY SS SPDR S&P Dividend ETF 0.44% 8,191 $1.1M Reduce -3.8%
CPRT Copart Inc. 0.41% 24,094 $1.1M Reduce -1.2%
NKE Nike Inc. Class B 0.41% 15,428 $1.1M Add +6.8%
AMGN Amgen Inc. 0.40% 3,696 $1.0M Add +2.1%
VIG Vanguard Dividend Apprec ETF 0.37% 4,545 $981K Reduce -3.5%
BLK BlackRock Inc. 0.36% 802 $935K Add +0.9%
VTI VG Morningstar TS MKT ETF-US 0.34% 2,723 $894K Add +2.4%
DLR Digital Realty Trust Inc. 0.33% 4,965 $858K No change
XLE SS Energy Select Sector 0.33% 9,587 $856K Reduce -4.3%
LIN Linde PLC 0.33% 1,799 $855K Reduce -8.2%
WWD Woodward Inc. 0.33% 3,380 $854K Reduce -36.4%
IWM iShares Russell 2000 ETF 0.31% 3,329 $805K No change
JPST JPMorgan Ultra-Short Income 0.30% 15,770 $800K Add +59.3%
XLV SS Health Care Select Sector 0.29% 5,420 $754K Reduce -16.0%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.28% 3,503 $731K No change
PH Parker Hannifin Corp. 0.27% 943 $715K No change
QQQ Invesco QQQ Trust Series 1 0.25% 1,100 $660K Reduce -4.3%
DUK Duke Energy Corp. 0.24% 5,197 $643K Reduce -1.9%
PRU Prudential Financial Inc. 0.22% 5,610 $582K Reduce -39.1%
MRK Merck & Co. Inc. 0.22% 6,840 $574K No change
UNH Unitedhealth Group Inc. 0.21% 1,632 $564K Reduce -40.8%
USMV iShares MSCI USA Min Vol Fac 0.21% 5,832 $555K No change
VCR Vanguard Consumer Discre ETF 0.20% 1,359 $538K Add +11.2%
AXP American Express Co. 0.20% 1,570 $521K No change
NVO Novo-Nordisk A/S-Spons ADR 0.19% 8,819 $489K Add +6.7%
RJF Raymond James Financial Inc. 0.18% 2,682 $463K No change
VTEB Vanguard Tax-Exempt Bond ETF 0.17% 8,830 $442K Add +0.3%
COP Conocophillips 0.17% 4,643 $439K No change
AEP American Electric Power 0.16% 3,825 $430K Reduce -4.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.15% 4,526 $395K Add +4.7%
XLF SS Financial Select Sector 0.15% 7,232 $390K Add +1.7%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.14% 1,251 $372K Reduce -9.2%
VYM Vanguard High DVD Yield ETF 0.12% 2,328 $328K No change
SBUX Starbucks Corp. 0.12% 3,816 $323K Add +9.9%
SHW The Sherwin-Williams Co. 0.12% 878 $304K No change
MCD McDonald's Corp. 0.11% 973 $296K No change
AMT American Tower Corp. 0.11% 1,470 $283K Reduce -3.2%
SUB iShares Short-Term National 0.11% 2,641 $282K Reduce -13.3%
RMD Resmed Inc. 0.11% 1,011 $277K Reduce -4.0%
HD Home Depot Inc. 0.09% 607 $246K No change

Show all 103 holdings

Portfolio Sells Q2 2025 → Q3 2025
ICSH iShares Ultra Short Duration Reduce -24.9% 1.74% −0.76
CRM Salesforce Inc. Reduce -25.5% 0.74% −0.49
FISV Fiserv Inc. Reduce -4.9% 0.94% −0.48
ABT Abbott Laboratories Reduce -1.8% 3.20% −0.37
PG The Procter & Gamble Co. Reduce -13.3% 0.91% −0.26
WWD Woodward Inc. Reduce -36.4% 0.33% −0.21
XLP SS Consumer Staples Sel Sect Sold out 0.00% −0.20
CSCO Cisco Systems Inc. Reduce -1.5% 1.73% −0.19
PRU Prudential Financial Inc. Reduce -39.1% 0.22% −0.18
FTV Fortive Corp. Sold out 0.00% −0.18
ADP Automatic Data Processing Reduce -2.5% 1.12% −0.18
HES Hess Corp. Sold out 0.00% −0.18
SCHD Schwab US DVD Equity ETF Reduce -14.1% 0.66% −0.14
UNH Unitedhealth Group Inc. Reduce -40.8% 0.21% −0.14
DIS The Walt Disney Co. Reduce -0.6% 0.69% −0.12
IGSB iShares 1-5Y Inv Grade Corp. Reduce -0.3% 1.55% −0.12
APD Air Products & Chemicals Inc. Reduce -2.5% 0.69% −0.10
MDT Medtronic PLC Reduce -13.0% 0.73% −0.10
BALL Ball Corp. Sold out 0.00% −0.09
TTE Totalenergies SE -Spon ADR Sold out 0.00% −0.08
CPRT Copart Inc. Reduce -1.2% 0.41% −0.08
PEP Pepsico Inc. Reduce -5.1% 1.09% −0.07
XLV SS Health Care Select Sector Reduce -16.0% 0.29% −0.07
VB Vanguard Most SM-Cap ETF-Usd Reduce -1.1% 4.06% −0.07
VEU Vanguard Ftse All-World Ex-U Reduce -0.6% 2.73% −0.06
GPC Genuine Parts Co. Reduce -12.8% 0.70% −0.06
LIN Linde PLC Reduce -8.2% 0.33% −0.05
WRB WR Berkley Corp. Reduce -0.4% 1.06% −0.04
HUBB Hubbell Inc. Reduce -1.1% 1.12% −0.04
SDY SS SPDR S&P Dividend ETF Reduce -3.8% 0.44% −0.04
AMT American Tower Corp. Reduce -3.2% 0.11% −0.03
SUB iShares Short-Term National Reduce -13.3% 0.11% −0.03
XLY SS Consumer Disc Select Sect Reduce -5.5% 0.72% −0.03
SYY Sysco Corp. Reduce -5.7% 0.46% −0.02
XLE SS Energy Select Sector Reduce -4.3% 0.33% −0.02
VIG Vanguard Dividend Apprec ETF Reduce -3.5% 0.37% −0.02
AFL Aflac Inc. Reduce -1.6% 0.52% −0.02
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -9.2% 0.14% −0.01
NTRS Northern Trust Corp. Reduce -1.1% 0.47% −0.01
DUK Duke Energy Corp. Reduce -1.9% 0.24% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -4.3% 0.25% −0.01
RMD Resmed Inc. Reduce -4.0% 0.11% −0.01
AEP American Electric Power Reduce -4.0% 0.16% −0.01
IVV iShares Core S&P 500 ETF Reduce -0.7% 0.45% −0.00
JPM JPMorgan Chase & Co. Reduce -0.7% 3.26% +0.00
ENB Enbridge Inc. Reduce -1.8% 0.72% +0.01
WELL Welltower Inc. Reduce -1.0% 0.65% +0.04
LOW Lowe's Cos Inc. Reduce -0.3% 1.25% +0.06
RTX RTX Corp. Reduce -0.7% 1.46% +0.07
JNJ Johnson & Johnson Reduce -2.4% 2.01% +0.18

Portfolio Buys Q2 2025 → Q3 2025
VUG Vanguard Mrngstar GR ETF-Sui Add +49.1% 3.57% +1.21
GOOGL Alphabet Inc. Class A Add +1.2% 4.88% +1.11
AAPL Apple Inc. Add +4.6% 4.97% +0.84
VOO Vanguard S&P 500 ETF Add +23.1% 1.92% +0.36
GOOG Alphabet Inc. Class C Add +0.7% 1.08% +0.24
CVX Chevron Corp. Add +23.7% 0.88% +0.17
XLK SS Technology Select Sector Add +9.0% 1.41% +0.16
AMZN Amazon.com Inc. Add +14.1% 2.25% +0.12
JPST JPMorgan Ultra-Short Income Add +59.3% 0.30% +0.10
SHM SS SPDR N Ice St Muni ETF New 0.09% +0.09
XLC SS Comm Select Sector SPDR Add +19.7% 0.47% +0.08
AMAT Applied Materials Inc. Add +8.3% 0.56% +0.06
SPY SS SPDR S&P 500 ETF Trust-US Add +7.0% 0.89% +0.06
VCR Vanguard Consumer Discre ETF Add +11.2% 0.20% +0.02
BRK.B Berkshire Hathaway Inc. Class B Add +7.1% 0.85% +0.02
IGIB iShares 5-10Y Inv Grade Corp. Add +7.8% 1.49% +0.02
PLD Prologis Inc. Add +0.8% 0.89% +0.02
BLK BlackRock Inc. Add +0.9% 0.36% +0.01
VTI VG Morningstar TS MKT ETF-US Add +2.4% 0.34% +0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Add +4.7% 0.15% +0.01
VCSH Vanguard S/T Corp. Bond ETF Add +7.3% 1.09% −0.00
MSFT Microsoft Corp. Add +3.6% 5.16% −0.00
XLF SS Financial Select Sector Add +1.7% 0.15% −0.00
SBUX Starbucks Corp. Add +9.9% 0.12% −0.01
VTEB Vanguard Tax-Exempt Bond ETF Add +0.3% 0.17% −0.01
NKE Nike Inc. Class B Add +6.8% 0.41% −0.01
AMGN Amgen Inc. Add +2.1% 0.40% −0.02
COST Costco Wholesale Corp. Add +13.5% 1.17% −0.02
VCIT Vanguard Int-Term Corporate Add +3.3% 0.64% −0.02
XOM Exxon Mobil Corp. Add +0.0% 0.76% −0.02
NVO Novo-Nordisk A/S-Spons ADR Add +6.7% 0.19% −0.05
DHR Danaher Corp. Add +1.9% 1.02% −0.06
MA Mastercard Inc. Class A Add +1.6% 1.45% −0.07
V Visa Inc. Class A Add +0.2% 0.69% −0.08
TXN Texas Instruments Inc. Add +1.4% 1.00% −0.20
CPAY Corpay Inc. Add +3.1% 1.02% −0.21

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