Capital Counsel LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Capital Counsel LLC reported 57 stock positions worth $2.5 billion. Its top holding was Visa Class A (V) at 11.0% of the portfolio, followed by Microsoft (MSFT, 10.3%) and Costco Wholesale (COST, 10.2%). Compared with Q1 2025, it opened 3 new positions, sold out of 3, added to 11 and reduced 24. The biggest buy was Kinross Gold (KGC, shares +68%) and the biggest sale Visa Class A (V, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001114928
- Portfolio Value
- $2.5B (Q2 2025)
- SEC Filing
- 0001114928-25-000007 ↗ filed Aug 13, 2025
Holdings Value
Holdings 57 stocks · $2.5B
| V Visa Inc. Class A | 10.98% | 762,278 | $270.6M | Reduce -1.5% |
| MSFT Microsoft Corp. | 10.26% | 508,392 | $252.9M | Reduce -1.2% |
| COST Costco Wholesale Corp. | 10.18% | 253,567 | $251.0M | Reduce -1.5% |
| IDXX Idexx Laboratories Inc. | 10.03% | 460,770 | $247.1M | Reduce -1.3% |
| GOOG Alphabet Inc. Class C | 9.40% | 1,306,181 | $231.7M | Reduce -0.9% |
| ANET Arista Networks Inc. | 9.19% | 2,214,681 | $226.6M | Reduce -0.5% |
| CME Cme Group Inc. | 9.09% | 812,706 | $224.0M | Reduce -0.9% |
| ADP Automatic Data Processing | 8.51% | 680,231 | $209.8M | Reduce -0.4% |
| MTD Mettler-Toledo International | 7.06% | 148,199 | $174.1M | Reduce -1.8% |
| HD Home Depot Inc. | 4.52% | 303,744 | $111.4M | Reduce -2.0% |
| QCOM Qualcomm Inc. | 3.72% | 576,281 | $91.8M | Reduce -2.2% |
| DCI Donaldson Co. Inc. | 2.78% | 988,275 | $68.5M | Reduce -0.4% |
| AAPL Apple Inc. | 0.60% | 71,832 | $14.7M | Reduce -3.0% |
| INTC Intel Corp. | 0.58% | 641,598 | $14.4M | Add +7.5% |
| AMD Advanced Micro Devices | 0.48% | 82,797 | $11.7M | No change |
| DHR Danaher Corp. | 0.37% | 45,732 | $9.0M | Add +0.8% |
| GILD Gilead Sciences Inc. | 0.31% | 69,210 | $7.7M | Add +1.6% |
| KGC Kinross Gold Corp. | 0.25% | 386,892 | $6.0M | Add +67.6% |
| XOM Exxon Mobil Corp. | 0.22% | 49,687 | $5.4M | Add +0.9% |
| MRK Merck & Co. Inc. | 0.20% | 63,228 | $5.0M | Add +1.8% |
| ADI Analog Devices Inc. | 0.12% | 12,349 | $2.9M | No change |
| HUBB Hubbell Inc. | 0.11% | 6,587 | $2.7M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.10% | 5,273 | $2.6M | Add +1.9% |
| GOOGL Alphabet Inc. Class A | 0.10% | 14,013 | $2.5M | Reduce -6.6% |
| IONS Ionis Pharmaceuticals Inc. | 0.08% | 50,205 | $2.0M | Add +35.4% |
| PEP Pepsico Inc. | 0.07% | 13,470 | $1.8M | No change |
| MA Mastercard Inc. Class A | 0.07% | 3,163 | $1.8M | Reduce -5.8% |
| WAB Wabtec Corp. | 0.07% | 8,000 | $1.7M | No change |
| VLTO Veralto Corp. | 0.06% | 15,010 | $1.5M | Add +0.8% |
| KKR KKR & Co. Inc. | 0.05% | 8,351 | $1.1M | Reduce -18.4% |
| SHY iShares 1-3 Year Treasury Bo | 0.04% | 13,175 | $1.1M | Add +29.5% |
| WMT Walmart Inc. | 0.04% | 10,197 | $997K | Reduce -10.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.04% | 1,468 | $907K | Reduce -11.5% |
| FTV Fortive Corp. | 0.03% | 15,231 | $794K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.03% | 2,168 | $639K | Add +14.1% |
| AMZN Amazon.com Inc. | 0.02% | 2,728 | $598K | Reduce -29.0% |
| NVDA Nvidia Corp. | 0.02% | 3,765 | $595K | Reduce -6.0% |
| FIS Fidelity National Info Serv | 0.02% | 6,475 | $527K | No change |
| JPM JPMorgan Chase & Co. | 0.02% | 1,526 | $442K | Reduce -27.6% |
| CHRW C.H. Robinson Worldwide Inc. | 0.02% | 4,000 | $384K | No change |
| EME Emcor Group Inc. | 0.01% | 654 | $350K | New |
| TMO Thermo Fisher Scientific Inc. | 0.01% | 804 | $326K | Reduce -28.7% |
| NSC Norfolk Southern Corp. | 0.01% | 1,215 | $311K | No change |
| SM SM Energy Co. | 0.01% | 11,905 | $294K | No change |
| ADBE Adobe Inc. | 0.01% | 734 | $284K | No change |
| VOO Vanguard S&P 500 ETF | 0.01% | 488 | $277K | Reduce -6.7% |
| GLW Corning Inc. | 0.01% | 5,000 | $263K | No change |
| RSG Republic Services Inc. | 0.01% | 1,013 | $250K | No change |
| RAL Ralliant Corp. | 0.01% | 5,076 | $246K | No change |
| CAT Caterpillar Inc. | 0.01% | 611 | $237K | No change |
| CTVA Corteva Inc. | 0.01% | 3,179 | $237K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.01% | 414 | $228K | New |
| VNT Vontier Corp. | 0.01% | 6,090 | $225K | No change |
| AVGO Broadcom Inc. | 0.01% | 800 | $221K | New |
| FLO Flowers Foods Inc. | 0.01% | 11,610 | $186K | No change |
| VUZI Vuzix Corp. | 0.00% | 20,000 | $58K | No change |
| NRGV Energy Vault Holdings Inc. | 0.00% | 65,625 | $47K | Reduce -8.5% |
Portfolio Sells Q1 2025 → Q2 2025
| V Visa Inc. Class A | Reduce -1.5% | 10.98% | −1.04 |
| MTD Mettler-Toledo International | Reduce -1.8% | 7.06% | −0.84 |
| ADP Automatic Data Processing | Reduce -0.4% | 8.51% | −0.74 |
| COST Costco Wholesale Corp. | Reduce -1.5% | 10.18% | −0.60 |
| CME Cme Group Inc. | Reduce -0.9% | 9.09% | −0.55 |
| HD Home Depot Inc. | Reduce -2.0% | 4.52% | −0.52 |
| QCOM Qualcomm Inc. | Reduce -2.2% | 3.72% | −0.29 |
| DCI Donaldson Co. Inc. | Reduce -0.4% | 2.78% | −0.17 |
| AAPL Apple Inc. | Reduce -3.0% | 0.60% | −0.13 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.02 |
| TMO Thermo Fisher Scientific Inc. | Reduce -28.7% | 0.01% | −0.01 |
| MRNA Moderna Inc. | Sold out | 0.00% | −0.01 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -5.8% | 0.07% | −0.01 |
| AMZN Amazon.com Inc. | Reduce -29.0% | 0.02% | −0.01 |
| KKR KKR & Co. Inc. | Reduce -18.4% | 0.05% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -27.6% | 0.02% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -11.5% | 0.04% | −0.00 |
| WMT Walmart Inc. | Reduce -10.7% | 0.04% | −0.00 |
| GOOGL Alphabet Inc. Class A | Reduce -6.6% | 0.10% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -6.7% | 0.01% | −0.00 |
| NRGV Energy Vault Holdings Inc. | Reduce -8.5% | 0.00% | −0.00 |
| NVDA Nvidia Corp. | Reduce -6.0% | 0.02% | +0.00 |
| GOOG Alphabet Inc. Class C | Reduce -0.9% | 9.40% | +0.27 |
| IDXX Idexx Laboratories Inc. | Reduce -1.3% | 10.03% | +1.34 |
| ANET Arista Networks Inc. | Reduce -0.5% | 9.19% | +1.55 |
| MSFT Microsoft Corp. | Reduce -1.2% | 10.26% | +1.70 |
Portfolio Buys Q1 2025 → Q2 2025
| KGC Kinross Gold Corp. | Add +67.6% | 0.25% | +0.12 |
| IONS Ionis Pharmaceuticals Inc. | Add +35.4% | 0.08% | +0.03 |
| EME Emcor Group Inc. | New | 0.01% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.01% | +0.01 |
| AVGO Broadcom Inc. | New | 0.01% | +0.01 |
| SHY iShares 1-3 Year Treasury Bo | Add +29.5% | 0.04% | +0.01 |
| IBM Intl Business Machines Corp. | Add +14.1% | 0.03% | +0.01 |
| VLTO Veralto Corp. | Add +0.8% | 0.06% | −0.00 |
| INTC Intel Corp. | Add +7.5% | 0.58% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.9% | 0.10% | −0.02 |
| GILD Gilead Sciences Inc. | Add +1.6% | 0.31% | −0.03 |
| XOM Exxon Mobil Corp. | Add +0.9% | 0.22% | −0.04 |
| MRK Merck & Co. Inc. | Add +1.8% | 0.20% | −0.04 |
| DHR Danaher Corp. | Add +0.8% | 0.37% | −0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 58 | $2.6B | ANET, GOOG, V, IDXX, COST |
| Q1 2026 | 62 | $2.4B | GOOG, ANET, COST, IDXX, CME |
| Q4 2025 | 61 | $2.6B | GOOG, IDXX, ANET, V, MSFT |
| Q3 2025 | 60 | $2.6B | ANET, GOOG, IDXX, V, MSFT |
| Q2 2025 | 57 | $2.5B | V, MSFT, COST, IDXX, GOOG |
| Q1 2025 | 56 | $2.3B | V, COST, CME, ADP, GOOG |
| Q4 2024Amended | 55 | $2.3B | GOOG, V, COST, ANET, MSFT |
| Q3 2024 | 55 | $2.3B | COST, IDXX, MTD, GOOG, V |
| Q2 2024 | 55 | $2.2B | GOOG, COST, MSFT, IDXX, MTD |
| Q1 2024 | 56 | $2.2B | IDXX, V, MSFT, COST, GOOG |