Bull Street Advisors, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), Bull Street Advisors, LLC reported 92 stock positions worth $215.1 million. Its top holding was TJX Companies (TJX) at 5.1% of the portfolio, followed by Apple (AAPL, 4.7%) and Johnson & Johnson (JNJ, 4.6%). Compared with Q3 2025, it opened 4 new positions, sold out of 1, added to 15 and reduced 44. The biggest buy was a new position in Qnity and the biggest sale Fiserv (FISV, shares −6%).

Most Recent 13F
Q2 2026
Location
SAVANNAH, GA
CIK
0001790837
Portfolio Value
$215.1M (Q4 2025)
SEC Filing
0001790837-26-000001 ↗ filed Jan 28, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $208.9M Q1 2024 Q2 2024: $207.3M Q2 2024 Q3 2024: $215.5M Q3 2024 Q4 2024: $207.4M Q4 2024 Q1 2025: $208.7M Q1 2025 Q2 2025: $208.0M Q2 2025 Q3 2025: $214.2M Q3 2025 Q4 2025: $215.1M $215.1M Q4 2025 Q1 2026: $201.9M Q1 2026 Q2 2026: $219.0M Q2 2026

Holdings 92 stocks · $215.1M
TJX TJX Companies Inc. filed as TJX COS INC NEW 5.06% 70,917 $10.9M Reduce -0.9%
AAPL Apple Inc. 4.68% 37,066 $10.1M Reduce -0.9%
JNJ Johnson & Johnson 4.60% 47,825 $9.9M No change
BSV Vanguard Short-Term Bond ETF 3.91% 106,847 $8.4M Add +0.5%
MSFT Microsoft Corp. 3.85% 17,143 $8.3M Reduce -0.3%
VGSH Vanguard Short-Term Treasury 3.76% 137,537 $8.1M Add +1.3%
KO The Coca-Cola Co. 3.36% 103,451 $7.2M Reduce -0.1%
COST Costco Wholesale Corp. 3.12% 7,787 $6.7M Reduce -0.4%
HD Home Depot Inc. 2.72% 17,030 $5.9M Reduce -0.3%
JPM JPMorgan Chase & Co. 2.50% 16,671 $5.4M Reduce -0.9%
BRK.B Berkshire Hathaway Inc. Class B 2.28% 9,763 $4.9M Reduce -0.7%
DHR Danaher Corp. 2.21% 20,732 $4.7M No change
XOM Exxon Mobil Corp. 2.10% 37,540 $4.5M Add +0.0%
IGSB iShares 1-5Y Inv Grade Corp. 2.05% 83,515 $4.4M Add +1.2%
AMGN Amgen Inc. 1.98% 13,020 $4.3M Reduce -0.1%
VCSH Vanguard S/T Corp. Bond ETF 1.96% 52,817 $4.2M No change
GOOGL Alphabet Inc. Class A 1.92% 13,195 $4.1M Reduce -5.1%
AXP American Express Co. 1.86% 10,828 $4.0M Reduce -5.3%
VCIT Vanguard Int-Term Corporate 1.78% 45,821 $3.8M Add +0.8%
SYY Sysco Corp. 1.56% 45,519 $3.4M Reduce -0.1%
PG The Procter & Gamble Co. 1.55% 23,341 $3.3M Add +1.5%
GOOG Alphabet Inc. Class C 1.55% 10,601 $3.3M Reduce -2.2%
ADP Automatic Data Processing 1.52% 12,733 $3.3M Reduce -3.1%
RTX RTX Corp. 1.51% 17,716 $3.2M Reduce -0.3%
PEP Pepsico Inc. 1.49% 22,352 $3.2M Add +10.0%
VGIT Vanguard Intermediate-Term T 1.48% 53,270 $3.2M Add +2.6%
SPY SS SPDR S&P 500 ETF Trust-US 1.41% 4,442 $3.0M Reduce -1.0%
CSCO Cisco Systems Inc. 1.35% 37,628 $2.9M Reduce -0.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.30% 24,594 $2.8M Reduce -3.8%
CVX Chevron Corp. 1.29% 18,200 $2.8M Add +5.1%
HON Honeywell International Inc. 1.28% 14,076 $2.7M Reduce -0.1%
VTI VG Morningstar TS MKT ETF-US 1.22% 7,796 $2.6M Add +1.4%
EMR Emerson Electric Co. 1.10% 17,802 $2.4M Reduce -1.2%
RSG Republic Services Inc. 1.10% 11,143 $2.4M No change
MDLZ Mondelez International Inc. Class A 1.09% 43,709 $2.4M No change
TIP iShares Tips Bond ETF 0.97% 18,933 $2.1M Reduce -4.0%
FISV Fiserv Inc. 0.93% 29,850 $2.0M Reduce -6.0%
ELV Elevance Health Inc. 0.93% 5,684 $2.0M No change
NUE Nucor Corp. 0.91% 11,943 $1.9M Reduce -1.6%
DUK Duke Energy Corp. 0.80% 14,673 $1.7M No change
ABT Abbott Laboratories 0.75% 12,868 $1.6M Reduce -0.4%
D Dominion Energy Inc. 0.72% 26,410 $1.5M Reduce -0.1%
MRK Merck & Co. Inc. 0.69% 14,123 $1.5M No change
USB US Bancorp 0.68% 27,524 $1.5M Reduce -0.3%
UNP Union Pacific Corp. 0.66% 6,105 $1.4M No change
CPT Camden Property Trust 0.65% 12,735 $1.4M No change
VXF Vanguard Extended Market ETF 0.65% 6,680 $1.4M Add +2.0%
SYK Stryker Corp. 0.62% 3,819 $1.3M Reduce -0.8%
PFE Pfizer Inc. 0.61% 52,347 $1.3M Reduce -2.0%
CMCSA Comcast Corp. Class A 0.60% 43,408 $1.3M Reduce -9.4%
MS Morgan Stanley 0.60% 7,235 $1.3M Reduce -4.5%
SUB iShares Short-Term National 0.54% 10,875 $1.2M Add +0.5%
FTV Fortive Corp. 0.47% 18,147 $1.0M No change
COP Conocophillips 0.46% 10,660 $998K No change
AVB Avalonbay Communities Inc. 0.46% 5,440 $986K No change
PSX Phillips 66 0.45% 7,578 $978K Reduce -0.4%
GIS General Mills Inc. 0.44% 20,350 $946K Reduce -0.6%
CB Chubb Ltd. 0.44% 3,025 $944K No change
GS Goldman Sachs Group Inc. 0.36% 893 $785K Reduce -6.8%
VEU Vanguard Ftse All-World Ex-U 0.35% 10,306 $758K Add +0.5%
NVO Novo-Nordisk A/S-Spons ADR 0.35% 14,770 $751K No change
GLD SPDR Gold Shares 0.34% 1,827 $724K No change
AFL Aflac Inc. 0.34% 6,535 $721K Reduce -5.5%
MUSA Murphy USA Inc. 0.33% 1,780 $718K No change
GPC Genuine Parts Co. 0.32% 5,625 $692K No change
CL Colgate-Palmolive Co. 0.30% 8,100 $640K Reduce -2.4%
DEO Diageo PLC-Sponsored ADR 0.29% 7,285 $628K Reduce -1.8%
BND Vanguard Total Bond Market 0.28% 8,251 $611K No change
Qnity Corporation 0.28% 7,247 $592K New
DD Dupont DE Nemours Inc. 0.27% 14,570 $586K Reduce -3.6%
CARR Carrier Global Corp. 0.25% 10,301 $544K Add +1.2%
VLTO Veralto Corp. 0.24% 5,246 $523K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.24% 8,122 $512K No change
DVY iShares Select Dividend ETF 0.24% 3,625 $512K No change
OTIS Otis Worldwide Corp. 0.22% 5,470 $478K No change
CVS CVS Health Corp. 0.20% 5,543 $440K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.17% 6,837 $376K No change
EFA iShares MSCI Eafe ETF 0.17% 3,853 $370K No change
IJH iShares Core S&P Midcap ETF 0.17% 5,605 $370K Reduce -2.4%
MMM 3M Co. 0.17% 2,302 $369K Reduce -3.2%
VZ Verizon Communications Inc. 0.17% 8,940 $364K Reduce -27.3%
GE General Electric filed as GE AEROSPACE 0.17% 1,172 $361K Add +1.4%
EPD Enterprise Products Partners 0.16% 10,551 $338K No change
CI The Cigna Group 0.15% 1,166 $321K Reduce -3.2%
RAL Ralliant Corp. 0.14% 6,015 $306K Reduce -0.3%
WMT Walmart Inc. 0.14% 2,630 $293K Reduce -15.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.12% 900 $267K No change
PEG Public Service Enterprise GP 0.11% 3,036 $244K No change
CTVA Corteva Inc. 0.11% 3,494 $234K Reduce -1.2%
SLV iShares Silver Trust 0.10% 3,250 $209K New
BDX Becton Dickinson and Co. 0.10% 1,061 $206K New
CAT Caterpillar Inc. 0.09% 350 $201K New

Portfolio Sells Q3 2025 → Q4 2025
FISV Fiserv Inc. Reduce -6.0% 0.93% −0.98
HD Home Depot Inc. Reduce -0.3% 2.72% −0.51
MSFT Microsoft Corp. Reduce -0.3% 3.85% −0.30
ADP Automatic Data Processing Reduce -3.1% 1.52% −0.28
DD Dupont DE Nemours Inc. Reduce -3.6% 0.27% −0.28
COST Costco Wholesale Corp. Reduce -0.4% 3.12% −0.26
SYY Sysco Corp. Reduce -0.1% 1.56% −0.19
LOW Lowe's Cos Inc. Sold out 0.00% −0.11
HON Honeywell International Inc. Reduce -0.1% 1.28% −0.11
CMCSA Comcast Corp. Class A Reduce -9.4% 0.60% −0.10
VZ Verizon Communications Inc. Reduce -27.3% 0.17% −0.08
DIS The Walt Disney Co. Reduce -3.8% 1.30% −0.07
ABT Abbott Laboratories Reduce -0.4% 0.75% −0.06
TIP iShares Tips Bond ETF Reduce -4.0% 0.97% −0.06
GIS General Mills Inc. Reduce -0.6% 0.44% −0.04
SYK Stryker Corp. Reduce -0.8% 0.62% −0.04
DEO Diageo PLC-Sponsored ADR Reduce -1.8% 0.29% −0.04
D Dominion Energy Inc. Reduce -0.1% 0.72% −0.04
PFE Pfizer Inc. Reduce -2.0% 0.61% −0.03
PSX Phillips 66 Reduce -0.4% 0.45% −0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 2.28% −0.03
AFL Aflac Inc. Reduce -5.5% 0.34% −0.03
WMT Walmart Inc. Reduce -15.6% 0.14% −0.01
CI The Cigna Group Reduce -3.2% 0.15% −0.01
CL Colgate-Palmolive Co. Reduce -2.4% 0.30% −0.01
EMR Emerson Electric Co. Reduce -1.2% 1.10% −0.00
IJH iShares Core S&P Midcap ETF Reduce -2.4% 0.17% −0.00
CTVA Corteva Inc. Reduce -1.2% 0.11% −0.00
MMM 3M Co. Reduce -3.2% 0.17% −0.00
GS Goldman Sachs Group Inc. Reduce -6.8% 0.36% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.0% 1.41% +0.01
RAL Ralliant Corp. Reduce -0.3% 0.14% +0.02
JPM JPMorgan Chase & Co. Reduce -0.9% 2.50% +0.02
MS Morgan Stanley Reduce -4.5% 0.60% +0.03
USB US Bancorp Reduce -0.3% 0.68% +0.06
AXP American Express Co. Reduce -5.3% 1.86% +0.09
RTX RTX Corp. Reduce -0.3% 1.51% +0.12
CSCO Cisco Systems Inc. Reduce -0.9% 1.35% +0.13
NUE Nucor Corp. Reduce -1.6% 0.91% +0.14
KO The Coca-Cola Co. Reduce -0.1% 3.36% +0.16
AAPL Apple Inc. Reduce -0.9% 4.68% +0.24
TJX TJX Companies Inc. Reduce -0.9% 5.06% +0.24
AMGN Amgen Inc. Reduce -0.1% 1.98% +0.26
GOOG Alphabet Inc. Class C Reduce -2.2% 1.55% +0.31
GOOGL Alphabet Inc. Class A Reduce -5.1% 1.92% +0.34

Portfolio Buys Q3 2025 → Q4 2025
Qnity Corporation New 0.28% +0.28
PEP Pepsico Inc. Add +10.0% 1.49% +0.16
XOM Exxon Mobil Corp. Add +0.0% 2.10% +0.12
SLV iShares Silver Trust New 0.10% +0.10
BDX Becton Dickinson and Co. New 0.10% +0.10
CAT Caterpillar Inc. New 0.09% +0.09
VTI VG Morningstar TS MKT ETF-US Add +1.4% 1.22% +0.04
CVX Chevron Corp. Add +5.1% 1.29% +0.03
VGIT Vanguard Intermediate-Term T Add +2.6% 1.48% +0.03
VGSH Vanguard Short-Term Treasury Add +1.3% 3.76% +0.02
IGSB iShares 1-5Y Inv Grade Corp. Add +1.2% 2.05% +0.01
VEU Vanguard Ftse All-World Ex-U Add +0.5% 0.35% +0.01
VXF Vanguard Extended Market ETF Add +2.0% 0.65% +0.01
GE General Electric Add +1.4% 0.17% +0.01
SUB iShares Short-Term National Add +0.5% 0.54% −0.00
VCIT Vanguard Int-Term Corporate Add +0.8% 1.78% −0.00
BSV Vanguard Short-Term Bond ETF Add +0.5% 3.91% −0.00
CARR Carrier Global Corp. Add +1.2% 0.25% −0.03
PG The Procter & Gamble Co. Add +1.5% 1.55% −0.09

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 95$219.0MJNJ, AAPL, TJX, KO, COST
Q1 2026 94$201.9MJNJ, AAPL, KO, VGSH, COST
Q4 2025 92$215.1MTJX, AAPL, JNJ, BSV, MSFT
Q3 2025 89$214.2MTJX, AAPL, MSFT, JNJ, BSV
Q2 2025 89$208.0MTJX, MSFT, BSV, VGSH, COST
Q1 2025 89$208.7MTJX, AAPL, BSV, VGSH, JNJ
Q4 2024 89$207.4MAAPL, TJX, BSV, VGSH, COST
Q3 2024 91$215.5MAAPL, BSV, TJX, VGSH, JNJ
Q2 2024 91$207.3MBSV, AAPL, VGSH, TJX, MSFT
Q1 2024 92$208.9MBSV, VGSH, JNJ, MSFT, TJX