Agate Pass Investment Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 8, 2026), Agate Pass Investment Management, LLC reported 106 stock positions worth $269.2 million. Its top holding was Alphabet Class A (GOOGL) at 6.0% of the portfolio, followed by Abbvie (ABBV, 5.7%) and Apple (AAPL, 5.2%). Compared with Q3 2025, it opened 4 new positions, sold out of 1, added to 37 and reduced 48. The biggest buy was Vanguard Mrngstar GR ETF-Sui (VUG, shares +14%) and the biggest sale Fiserv (FISV, shares −30%).

Most Recent 13F
Q2 2026
Location
BAINBRIDGE ISLAND, WA
CIK
0001900409
Portfolio Value
$269.2M (Q4 2025)
SEC Filing
0001900409-26-000001 ↗ filed Jan 8, 2026

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 Q3 2025 Q4 2025: $269.2M $269.2M Q4 2025 Q1 2026: $255.5M Q1 2026 Q2 2026: $271.2M Q2 2026

Holdings 106 stocks · $269.2M
GOOGL Alphabet Inc. Class A 6.00% 51,598 $16.2M Reduce -2.1%
ABBV Abbvie Inc. 5.71% 67,223 $15.4M Reduce -0.2%
AAPL Apple Inc. 5.22% 51,661 $14.0M Add +0.8%
MSFT Microsoft Corp. 4.86% 27,036 $13.1M Add +3.3%
VB Vanguard Most SM-Cap ETF-Usd 4.11% 42,875 $11.1M Add +2.2%
VUG Vanguard Mrngstar GR ETF-Sui 4.03% 22,237 $10.8M Add +13.6%
JPM JPMorgan Chase & Co. 3.22% 26,858 $8.7M Reduce -1.0%
ABT Abbott Laboratories 2.87% 61,555 $7.7M Reduce -2.1%
VEU Vanguard Ftse All-World Ex-U 2.81% 102,824 $7.6M Add +2.4%
AMZN Amazon.com Inc. 2.61% 30,405 $7.0M Add +12.7%
VOO Vanguard S&P 500 ETF 2.36% 10,124 $6.3M Add +22.6%
ORCL Oracle Corp. 2.32% 32,008 $6.2M Add +0.9%
JNJ Johnson & Johnson 2.14% 27,891 $5.8M Reduce -2.3%
CSCO Cisco Systems Inc. 1.90% 66,512 $5.1M Reduce -0.1%
IGIB iShares 5-10Y Inv Grade Corp. 1.59% 79,623 $4.3M Add +10.3%
RTX RTX Corp. 1.56% 22,945 $4.2M Add +0.2%
XLK SS Technology Select Sector 1.55% 28,927 $4.2M Add +9.8%
IGSB iShares 1-5Y Inv Grade Corp. 1.53% 77,901 $4.1M Add +1.5%
ICSH iShares Ultra Short Duration 1.47% 78,147 $4.0M Reduce -13.1%
MA Mastercard Inc. Class A 1.46% 6,883 $3.9M Add +3.0%
GOOG Alphabet Inc. Class C 1.42% 12,215 $3.8M Add +5.0%
PEP Pepsico Inc. 1.19% 22,368 $3.2M Add +9.8%
LOW Lowe's Cos Inc. 1.16% 12,936 $3.1M Reduce -1.4%
DHR Danaher Corp. 1.16% 13,624 $3.1M Add +0.9%
HUBB Hubbell Inc. 1.10% 6,695 $3.0M Reduce -2.3%
VCSH Vanguard S/T Corp. Bond ETF 1.08% 36,400 $2.9M Add +1.4%
COST Costco Wholesale Corp. 1.03% 3,205 $2.8M Reduce -3.7%
CPAY Corpay Inc. 1.03% 9,174 $2.8M Reduce -1.6%
PLD Prologis Inc. 0.98% 20,718 $2.6M Add +1.5%
ADP Automatic Data Processing 0.94% 9,835 $2.5M Reduce -1.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.92% 21,240 $2.5M No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.91% 35,098 $2.5M Reduce -3.9%
TXN Texas Instruments Inc. 0.89% 13,744 $2.4M Reduce -3.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.89% 3,496 $2.4M Reduce -0.5%
BRK.B Berkshire Hathaway Inc. Class B 0.89% 4,741 $2.4M Add +6.9%
CRM Salesforce Inc. 0.84% 8,490 $2.2M Add +3.4%
CVX Chevron Corp. 0.82% 14,531 $2.2M Reduce -2.4%
PG The Procter & Gamble Co. 0.81% 15,306 $2.2M Reduce -1.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.81% 7,393 $2.2M No change
XOM Exxon Mobil Corp. 0.78% 17,434 $2.1M Reduce -1.5%
V Visa Inc. Class A 0.73% 5,610 $2.0M Add +5.5%
AMAT Applied Materials Inc. 0.69% 7,229 $1.9M Add +0.9%
ENB Enbridge Inc. 0.68% 38,105 $1.8M Add +1.5%
MDT Medtronic PLC 0.67% 18,785 $1.8M Reduce -6.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.65% 15,397 $1.8M Reduce -3.1%
TRV The Travelers Cos Inc. 0.65% 6,025 $1.7M Reduce -8.4%
VCIT Vanguard Int-Term Corporate 0.62% 19,921 $1.7M Reduce -0.5%
ROK Rockwell Automation Inc. 0.62% 4,280 $1.7M No change
SCHD Schwab US DVD Equity ETF 0.62% 60,488 $1.7M Reduce -4.3%
WELL Welltower Inc. 0.61% 8,785 $1.6M Reduce -8.3%
APD Air Products & Chemicals Inc. 0.58% 6,284 $1.6M Reduce -5.7%
XLY SS Consumer Disc Select Sect 0.53% 11,858 $1.4M Reduce -24.4%
NVS Novartis AG-Sponsored ADR 0.51% 9,950 $1.4M Reduce -9.9%
AFL Aflac Inc. 0.50% 12,145 $1.3M Reduce -0.1%
AMGN Amgen Inc. 0.45% 3,713 $1.2M Add +0.5%
XLC SS Comm Select Sector SPDR 0.44% 9,992 $1.2M Reduce -3.4%
NTRS Northern Trust Corp. 0.44% 8,595 $1.2M Reduce -5.5%
SBUX Starbucks Corp. 0.43% 13,756 $1.2M Add +260.5%
IVV iShares Core S&P 500 ETF 0.42% 1,669 $1.1M Reduce -5.8%
SDY SS SPDR S&P Dividend ETF 0.42% 8,131 $1.1M Reduce -0.7%
WWD Woodward Inc. 0.37% 3,315 $1.0M Reduce -1.9%
VIG Vanguard Dividend Apprec ETF 0.37% 4,477 $984K Reduce -1.5%
CPRT Copart Inc. 0.36% 24,600 $963K Add +2.1%
BLK BlackRock Inc. 0.35% 883 $946K Add +10.1%
VTI VG Morningstar TS MKT ETF-US 0.34% 2,723 $913K No change
FISV Fiserv Inc. 0.33% 13,265 $891K Reduce -30.5%
NKE Nike Inc. Class B 0.32% 13,603 $867K Reduce -11.8%
XLV SS Health Care Select Sector 0.32% 5,495 $851K Add +1.4%
XLE SS Energy Select Sector 0.31% 18,720 $837K Reduce -2.4%
JPST JPMorgan Ultra-Short Income 0.31% 16,462 $833K Add +4.4%
PH Parker Hannifin Corp. 0.31% 943 $829K No change
IWM iShares Russell 2000 ETF 0.31% 3,339 $822K Add +0.3%
GPC Genuine Parts Co. 0.29% 6,404 $787K Reduce -51.6%
QQQ Invesco QQQ Trust Series 1 0.29% 1,258 $773K Add +14.4%
DLR Digital Realty Trust Inc. 0.29% 4,965 $768K No change
LIN Linde PLC 0.28% 1,789 $763K Reduce -0.6%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.28% 3,503 $742K No change
MRK Merck & Co. Inc. 0.27% 6,800 $716K Reduce -0.6%
VTEB Vanguard Tax-Exempt Bond ETF 0.24% 13,078 $658K Add +48.1%
SYY Sysco Corp. 0.23% 8,584 $633K Reduce -41.3%
MAR Marriott International Class A 0.23% 2,001 $621K New
DUK Duke Energy Corp. 0.23% 5,197 $609K No change
AXP American Express Co. 0.22% 1,570 $581K No change
PRU Prudential Financial Inc. 0.21% 4,950 $559K Reduce -11.8%
UNH Unitedhealth Group Inc. 0.21% 1,691 $558K Add +3.6%
USMV iShares MSCI USA Min Vol Fac 0.20% 5,832 $549K No change
VCR Vanguard Consumer Discre ETF 0.19% 1,319 $519K Reduce -2.9%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.17% 1,523 $460K Add +21.7%
AEP American Electric Power 0.16% 3,825 $441K No change
COP Conocophillips 0.16% 4,643 $435K No change
RJF Raymond James Financial Inc. 0.16% 2,682 $431K No change
XLF SS Financial Select Sector 0.16% 7,682 $421K Add +6.2%
NVO Novo-Nordisk A/S-Spons ADR 0.16% 8,244 $419K Reduce -6.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.14% 8,898 $380K Reduce -1.7%
VYM Vanguard High DVD Yield ETF 0.12% 2,328 $334K No change
AMT American Tower Corp. 0.10% 1,470 $258K No change
SHM SS SPDR N Ice St Muni ETF 0.09% 5,285 $254K Add +13.3%
RMD Resmed Inc. 0.09% 1,011 $244K No change
SUB iShares Short-Term National 0.08% 2,141 $228K Reduce -18.9%
SHW The Sherwin-Williams Co. 0.08% 703 $228K Reduce -19.9%
VEA Vanguard Ftse Developed ETF 0.08% 3,599 $225K New
MCD McDonald's Corp. 0.08% 731 $223K Reduce -24.9%
FSBW FS Bancorp Inc. 0.08% 5,240 $216K No change
WFC Wells Fargo & Co. 0.08% 2,300 $214K New
HD Home Depot Inc. 0.08% 620 $213K Add +2.1%
CTSH Cognizant Tech Solutions-A 0.08% 2,540 $211K New

Portfolio Sells Q3 2025 → Q4 2025
FISV Fiserv Inc. Reduce -30.5% 0.33% −0.60
GPC Genuine Parts Co. Reduce -51.6% 0.29% −0.41
ABT Abbott Laboratories Reduce -2.1% 2.87% −0.34
ICSH iShares Ultra Short Duration Reduce -13.1% 1.47% −0.27
ABBV Abbvie Inc. Reduce -0.2% 5.71% −0.23
SYY Sysco Corp. Reduce -41.3% 0.23% −0.22
XLY SS Consumer Disc Select Sect Reduce -24.4% 0.53% −0.19
ADP Automatic Data Processing Reduce -1.7% 0.94% −0.18
WRB WR Berkley Corp. Reduce -3.9% 0.91% −0.15
COST Costco Wholesale Corp. Reduce -3.7% 1.03% −0.15
APD Air Products & Chemicals Inc. Reduce -5.7% 0.58% −0.12
TXN Texas Instruments Inc. Reduce -3.7% 0.89% −0.11
LOW Lowe's Cos Inc. Reduce -1.4% 1.16% −0.10
PG The Procter & Gamble Co. Reduce -1.3% 0.81% −0.09
NKE Nike Inc. Class B Reduce -11.8% 0.32% −0.09
VOT Vngrd Mrngstr MC GRW ETF-Usd Sold out 0.00% −0.08
MDT Medtronic PLC Reduce -6.5% 0.67% −0.06
CVX Chevron Corp. Reduce -2.4% 0.82% −0.06
TRV The Travelers Cos Inc. Reduce -8.4% 0.65% −0.05
WELL Welltower Inc. Reduce -8.3% 0.61% −0.04
LIN Linde PLC Reduce -0.6% 0.28% −0.04
DIS The Walt Disney Co. Reduce -3.1% 0.65% −0.04
SCHD Schwab US DVD Equity ETF Reduce -4.3% 0.62% −0.04
JPM JPMorgan Chase & Co. Reduce -1.0% 3.22% −0.04
SHW The Sherwin-Williams Co. Reduce -19.9% 0.08% −0.03
NVO Novo-Nordisk A/S-Spons ADR Reduce -6.5% 0.16% −0.03
NTRS Northern Trust Corp. Reduce -5.5% 0.44% −0.03
MCD McDonald's Corp. Reduce -24.9% 0.08% −0.03
NVS Novartis AG-Sponsored ADR Reduce -9.9% 0.51% −0.03
XLC SS Comm Select Sector SPDR Reduce -3.4% 0.44% −0.03
IVV iShares Core S&P 500 ETF Reduce -5.8% 0.42% −0.03
SUB iShares Short-Term National Reduce -18.9% 0.08% −0.02
VCIT Vanguard Int-Term Corporate Reduce -0.5% 0.62% −0.02
AFL Aflac Inc. Reduce -0.1% 0.50% −0.02
HUBB Hubbell Inc. Reduce -2.3% 1.10% −0.02
SDY SS SPDR S&P Dividend ETF Reduce -0.7% 0.42% −0.02
XLE SS Energy Select Sector Reduce -2.4% 0.31% −0.01
PRU Prudential Financial Inc. Reduce -11.8% 0.21% −0.01
VCR Vanguard Consumer Discre ETF Reduce -2.9% 0.19% −0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -1.7% 0.14% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -1.5% 0.37% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.5% 0.89% −0.01
CPAY Corpay Inc. Reduce -1.6% 1.03% +0.00
XOM Exxon Mobil Corp. Reduce -1.5% 0.78% +0.02
WWD Woodward Inc. Reduce -1.9% 0.37% +0.05
MRK Merck & Co. Inc. Reduce -0.6% 0.27% +0.05
JNJ Johnson & Johnson Reduce -2.3% 2.14% +0.13
CSCO Cisco Systems Inc. Reduce -0.1% 1.90% +0.17
GOOGL Alphabet Inc. Class A Reduce -2.1% 6.00% +1.12

Portfolio Buys Q3 2025 → Q4 2025
VUG Vanguard Mrngstar GR ETF-Sui Add +13.6% 4.03% +0.46
VOO Vanguard S&P 500 ETF Add +22.6% 2.36% +0.43
AMZN Amazon.com Inc. Add +12.7% 2.61% +0.35
GOOG Alphabet Inc. Class C Add +5.0% 1.42% +0.35
SBUX Starbucks Corp. Add +260.5% 0.43% +0.31
AAPL Apple Inc. Add +0.8% 5.22% +0.25
MAR Marriott International Class A New 0.23% +0.23
DHR Danaher Corp. Add +0.9% 1.16% +0.14
XLK SS Technology Select Sector Add +9.8% 1.55% +0.13
AMAT Applied Materials Inc. Add +0.9% 0.69% +0.13
IGIB iShares 5-10Y Inv Grade Corp. Add +10.3% 1.59% +0.11
RTX RTX Corp. Add +0.2% 1.56% +0.11
PEP Pepsico Inc. Add +9.8% 1.19% +0.10
CRM Salesforce Inc. Add +3.4% 0.84% +0.10
PLD Prologis Inc. Add +1.5% 0.98% +0.09
VEA Vanguard Ftse Developed ETF New 0.08% +0.08
VEU Vanguard Ftse All-World Ex-U Add +2.4% 2.81% +0.08
WFC Wells Fargo & Co. New 0.08% +0.08
CTSH Cognizant Tech Solutions-A New 0.08% +0.08
VTEB Vanguard Tax-Exempt Bond ETF Add +48.1% 0.24% +0.08
AMGN Amgen Inc. Add +0.5% 0.45% +0.05
VB Vanguard Most SM-Cap ETF-Usd Add +2.2% 4.11% +0.05
V Visa Inc. Class A Add +5.5% 0.73% +0.04
BRK.B Berkshire Hathaway Inc. Class B Add +6.9% 0.89% +0.04
QQQ Invesco QQQ Trust Series 1 Add +14.4% 0.29% +0.04
VBK Van Morst SML-Cap Gro-Usd Inc. Add +21.7% 0.17% +0.03
XLV SS Health Care Select Sector Add +1.4% 0.32% +0.03
MA Mastercard Inc. Class A Add +3.0% 1.46% +0.01
SHM SS SPDR N Ice St Muni ETF Add +13.3% 0.09% +0.01
XLF SS Financial Select Sector Add +6.2% 0.16% +0.01
JPST JPMorgan Ultra-Short Income Add +4.4% 0.31% +0.01
IWM iShares Russell 2000 ETF Add +0.3% 0.31% −0.00
BLK BlackRock Inc. Add +10.1% 0.35% −0.00
UNH Unitedhealth Group Inc. Add +3.6% 0.21% −0.01
VCSH Vanguard S/T Corp. Bond ETF Add +1.4% 1.08% −0.01
HD Home Depot Inc. Add +2.1% 0.08% −0.01
IGSB iShares 1-5Y Inv Grade Corp. Add +1.5% 1.53% −0.02
ENB Enbridge Inc. Add +1.5% 0.68% −0.04
CPRT Copart Inc. Add +2.1% 0.36% −0.05
MSFT Microsoft Corp. Add +3.3% 4.86% −0.30
ORCL Oracle Corp. Add +0.9% 2.32% −1.08

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