Capital Investment Counsel, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Capital Investment Counsel, LLC reported 120 stock positions worth $604.3 million. Its top holding was Invesco Bulletshares 2029 CB (BSCT) at 3.4% of the portfolio, followed by Invesco Bulletshares 2031 CB (BSCV, 3.4%) and Apple (AAPL, 2.6%). Compared with Q4 2024, it opened 6 new positions, sold out of 4, added to 45 and reduced 65. The biggest buy was a new position in Vngrd Mrngstr MC GRW ETF-Usd (VOT) and the biggest sale Broadcom (AVGO, shares −13%).

Most Recent 13F
Q2 2026
Location
DENVER, CO
CIK
0002033609
Portfolio Value
$604.3M (Q1 2025)
SEC Filing
0001221073-25-000057 ↗ filed May 15, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $466.5M Q1 2024 Q2 2024: $509.7M Q2 2024 Q3 2024: $577.7M Q3 2024 Q4 2024: $599.1M Q4 2024 Q1 2025: $604.3M $604.3M Q1 2025 Q2 2025: $644.6M Q2 2025 Q3 2025: $679.2M Q3 2025 Q4 2025: $719.9M Q4 2025 Q1 2026: $729.8M Q1 2026 Q2 2026: $807.6M Q2 2026

Holdings 120 stocks · $604.3M
BSCT Invesco Bulletshares 2029 CB 3.37% 1,100,000 $20.4M Add +3.3%
BSCV Invesco Bulletshares 2031 CB 3.37% 1,248,721 $20.4M Add +2.6%
AAPL Apple Inc. 2.56% 69,645 $15.5M Reduce -4.2%
AVGO Broadcom Inc. 2.44% 87,995 $14.7M Reduce -13.2%
FTSL First Trust Senior Loan ETF 2.44% 322,679 $14.7M Add +17.7%
MSFT Microsoft Corp. 2.36% 37,933 $14.2M Reduce -0.5%
HYDB iShares High Yield Systemati 2.27% 291,149 $13.7M Add +16.6%
TAP Molson Coors Beverage Co. Class B 2.16% 214,793 $13.1M No change
COST Costco Wholesale Corp. 2.13% 13,638 $12.9M Reduce -3.1%
CVX Chevron Corp. 2.13% 76,802 $12.8M Add +1.7%
IJH iShares Core S&P Midcap ETF 1.91% 197,821 $11.5M Reduce -1.6%
ABBV Abbvie Inc. 1.79% 51,530 $10.8M Reduce -2.2%
GOOGL Alphabet Inc. Class A 1.67% 65,408 $10.1M Reduce -0.3%
TRI Thomson Reuters Corp. 1.67% 58,277 $10.1M Reduce -4.7%
ARES Ares Management Corp. Class A 1.57% 64,834 $9.5M Reduce -5.8%
QQQ Invesco QQQ Trust Series 1 1.53% 19,757 $9.3M Reduce -2.5%
PWB Invesco Large Cap Growth ETF 1.51% 94,898 $9.1M Reduce -2.0%
JPM JPMorgan Chase & Co. 1.51% 37,150 $9.1M Reduce -2.2%
NOC Northrop Grumman Corp. 1.45% 17,122 $8.8M Reduce -0.2%
WMT Walmart Inc. 1.40% 96,142 $8.4M Reduce -3.6%
MA Mastercard Inc. Class A 1.35% 14,917 $8.2M Add +2.9%
SOXX iShares Semiconductor ETF 1.34% 43,063 $8.1M Reduce -3.6%
SCHF Schwab Intl Equity ETF 1.33% 405,712 $8.0M Reduce -3.6%
SPGI S&P Global Inc. 1.32% 15,759 $8.0M Add +49.1%
AMZN Amazon.com Inc. 1.31% 41,689 $7.9M Add +0.5%
UNH Unitedhealth Group Inc. 1.28% 14,755 $7.7M Add +1.9%
XOM Exxon Mobil Corp. 1.26% 64,244 $7.6M Add +2.3%
ROP Roper Technologies Inc. 1.26% 12,916 $7.6M Add +1.8%
DE Deere & Co. 1.24% 15,944 $7.5M Reduce -1.2%
CAT Caterpillar Inc. 1.23% 22,555 $7.4M Reduce -0.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.19% 28,959 $7.2M Add +0.1%
BSCU Invesco Bulletshares 2030 CB 1.18% 430,796 $7.1M Add +239.8%
SDVY First Trust Smid Cap Rising 1.16% 208,936 $7.0M Reduce -1.5%
ORLY O'reilly Automotive Inc. 1.14% 4,826 $6.9M Reduce -0.6%
IQLT iShares MSCI International Q 1.14% 173,890 $6.9M Reduce -0.0%
DGRO iShares Core Dividend Growth 1.12% 109,663 $6.8M Reduce -2.0%
DLR Digital Realty Trust Inc. 1.09% 45,989 $6.6M Reduce -1.0%
LAMR Lamar Advertising Co. Class A 1.09% 57,709 $6.6M Reduce -0.7%
DON Wisdomtree US Midcap Dividen 1.09% 132,468 $6.6M Add +0.8%
SO The Southern Co. 1.07% 70,228 $6.5M Reduce -3.1%
VTI VG Morningstar TS MKT ETF-US 1.05% 23,078 $6.3M Add +1.7%
HD Home Depot Inc. 1.05% 17,241 $6.3M Reduce -4.8%
VOT Vngrd Mrngstr MC GRW ETF-Usd 1.01% 24,998 $6.1M New
GILD Gilead Sciences Inc. 0.98% 52,789 $5.9M Reduce -5.5%
ING ING Groep N.V.-Sponsored ADR 0.98% 301,229 $5.9M Add +2.0%
IGSB iShares 1-5Y Inv Grade Corp. 0.97% 112,475 $5.9M Reduce -0.5%
DHI D.R. Horton Inc. 0.95% 45,298 $5.8M Add +0.1%
AMGN Amgen Inc. 0.95% 18,442 $5.7M Reduce -0.9%
UNP Union Pacific Corp. 0.95% 24,318 $5.7M Reduce -4.8%
ACN Accenture PLC Class A 0.95% 18,319 $5.7M Add +3.0%
VPL Vanguard Ftse Pacific ETF 0.94% 78,368 $5.7M Reduce -2.2%
PEG Public Service Enterprise GP 0.93% 67,958 $5.6M Reduce -0.4%
PAYX Paychex Inc. 0.92% 35,996 $5.6M Reduce -3.0%
EOG EOG Resources Inc. 0.91% 43,066 $5.5M Reduce -0.6%
OWL Blue Owl Capital Inc. 0.90% 272,750 $5.5M New
TXN Texas Instruments Inc. 0.89% 30,069 $5.4M Add +1.1%
EMR Emerson Electric Co. 0.89% 49,080 $5.4M Add +0.5%
WAT Waters Corp. 0.89% 14,581 $5.4M Reduce -3.4%
PEP Pepsico Inc. 0.88% 35,444 $5.3M Reduce -0.1%
ADBE Adobe Inc. 0.80% 12,557 $4.8M Add +13.0%
SDOG Alps Sector Dividend Dogs 0.80% 82,691 $4.8M Reduce -1.1%
FNF Fidelity National Financial 0.78% 72,222 $4.7M Reduce -4.5%
UL Unilever PLC 0.75% 76,223 $4.5M Reduce -1.7%
BSCW Invesco Bulletshares 2032 CB 0.72% 212,424 $4.3M Add +313.7%
BRK.B Berkshire Hathaway Inc. Class B 0.69% 7,861 $4.2M Add +2.8%
XLK SS Technology Select Sector 0.69% 20,199 $4.2M Add +4.4%
MS Morgan Stanley 0.68% 35,452 $4.1M Add +1.8%
OEF iShares S&P 100 ETF 0.67% 15,006 $4.1M Add +0.8%
GOVT iShares US Treasury Bond ETF 0.63% 164,890 $3.8M Add +0.7%
SNY Sanofi-ADR 0.63% 68,099 $3.8M Add +0.2%
VGSH Vanguard Short-Term Treasury 0.61% 62,519 $3.7M Add +0.3%
SCHD Schwab US DVD Equity ETF 0.57% 123,534 $3.5M Add +1.8%
PSA Public Storage 0.52% 10,524 $3.1M Reduce -0.1%
IEFA iShares Core MSCI Eafe ETF 0.50% 40,264 $3.0M Reduce -1.2%
IWP iShares Russell Mid-Cap Grow 0.43% 21,954 $2.6M Reduce -2.2%
IEI iShares 3-7 Year Treasury Bo 0.42% 21,498 $2.5M Add +4.5%
LLY Eli Lilly & Co. 0.40% 2,945 $2.4M Add +0.6%
XLF SS Financial Select Sector 0.37% 44,986 $2.2M Add +22.4%
XLC SS Comm Select Sector SPDR 0.31% 19,678 $1.9M Add +3.7%
ETN Eaton Corp. PLC 0.29% 6,379 $1.7M Reduce -3.0%
IVV iShares Core S&P 500 ETF 0.25% 2,727 $1.5M Reduce -10.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.25% 2,683 $1.5M Reduce -11.5%
IGIB iShares 5-10Y Inv Grade Corp. 0.25% 28,570 $1.5M Add +4.0%
XLY SS Consumer Disc Select Sect 0.22% 6,880 $1.4M Add +3.4%
NVDA Nvidia Corp. 0.21% 11,919 $1.3M Reduce -7.3%
XLI SS Industrial Select Sector 0.20% 9,397 $1.2M Add +4.7%
XLE SS Energy Select Sector 0.20% 12,987 $1.2M Reduce -10.0%
LMT Lockheed Martin Corp. 0.20% 2,695 $1.2M Reduce -26.9%
GOOG Alphabet Inc. Class C 0.19% 7,361 $1.2M Add +4.2%
FDN First Trust DJ Internet Ind 0.17% 4,667 $1.0M Reduce -0.1%
WM Waste Management Inc. 0.17% 4,384 $1.0M No change
EPI Wisdomtree India Earnings 0.16% 22,478 $983K Add +3.5%
SPMB SS SPDR P Mort Back Bond ETF 0.15% 41,738 $920K Reduce -20.1%
SUSA iShares ESG Optimized MSCI U 0.13% 6,669 $766K Reduce -30.2%
FTSM First Trust Enh Short Mat FD 0.11% 11,295 $676K Reduce -11.6%
FITB Fifth Third Bancorp 0.11% 17,201 $674K New
ABT Abbott Laboratories 0.10% 4,356 $578K Reduce -22.1%
V Visa Inc. Class A 0.09% 1,550 $543K Reduce -4.8%
PG The Procter & Gamble Co. 0.09% 3,045 $519K Add +0.2%
META Meta Platforms Inc. Class A 0.07% 755 $435K Add +35.1%
MCD McDonald's Corp. 0.07% 1,264 $395K Reduce -2.1%
PGR Progressive Corp. 0.06% 1,371 $388K Reduce -12.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.06% 4,654 $367K Add +5.6%
SCHX Schwab US Large-Cap ETF 0.06% 15,849 $350K Reduce -16.2%
LMBS First Trust Low Duration Opp 0.05% 6,710 $330K Reduce -18.4%
IVW iShares S&P 500 Growth ETF 0.05% 3,536 $328K Reduce -5.8%
INTU Intuit Inc. 0.05% 524 $322K Add +9.2%
SCHA Schwab US Small-Cap ETF 0.05% 13,626 $319K Add +30.5%
PEY Invesco High Yield Equity Di 0.05% 14,852 $319K Reduce -7.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 7,227 $302K Add +5.1%
DES Wisdomtree US Smallcap Divid 0.05% 9,380 $300K Reduce -12.7%
DVY iShares Select Dividend ETF 0.05% 2,195 $295K No change
SCHG Schwab US Large-Cap Growth 0.04% 10,735 $269K New
FNDX Schwab Fndmntl US LRG Co. ETF 0.04% 11,025 $260K Reduce -17.9%
ITB iShares U.S. Home Constructi 0.04% 2,680 $255K No change
MDY State Street SPDR S&P Midcap 0.04% 465 $248K New
HCA HCA Healthcare Inc. 0.04% 698 $241K Reduce -4.1%
MRK Merck & Co. Inc. 0.04% 2,678 $240K Reduce -49.9%
JNJ Johnson & Johnson 0.04% 1,358 $225K New
AFL Aflac Inc. 0.04% 1,949 $217K Reduce -50.1%

Portfolio Sells Q4 2024 → Q1 2025
AVGO Broadcom Inc. Reduce -13.2% 2.44% −1.45
GIS General Mills Inc. Sold out 0.00% −1.00
AAPL Apple Inc. Reduce -4.2% 2.56% −0.48
ARES Ares Management Corp. Class A Reduce -5.8% 1.57% −0.46
GOOGL Alphabet Inc. Class A Reduce -0.3% 1.67% −0.40
MSFT Microsoft Corp. Reduce -0.5% 2.36% −0.33
DLR Digital Realty Trust Inc. Reduce -1.0% 1.09% −0.28
SOXX iShares Semiconductor ETF Reduce -3.6% 1.34% −0.27
QQQ Invesco QQQ Trust Series 1 Reduce -2.5% 1.53% −0.20
IJH iShares Core S&P Midcap ETF Reduce -1.6% 1.91% −0.18
CAT Caterpillar Inc. Reduce -0.6% 1.23% −0.14
PWB Invesco Large Cap Growth ETF Reduce -2.0% 1.51% −0.14
HD Home Depot Inc. Reduce -4.8% 1.05% −0.13
SDVY First Trust Smid Cap Rising Reduce -1.5% 1.16% −0.11
WMT Walmart Inc. Reduce -3.6% 1.40% −0.11
LMT Lockheed Martin Corp. Reduce -26.9% 0.20% −0.10
LAMR Lamar Advertising Co. Class A Reduce -0.7% 1.09% −0.09
ETN Eaton Corp. PLC Reduce -3.0% 0.29% −0.08
NVDA Nvidia Corp. Reduce -7.3% 0.21% −0.07
SUSA iShares ESG Optimized MSCI U Reduce -30.2% 0.13% −0.07
XLB SS Materials Select Sector Sold out 0.00% −0.05
VOO Vanguard S&P 500 ETF Sold out 0.00% −0.05
MRK Merck & Co. Inc. Reduce -49.9% 0.04% −0.05
SPY SS SPDR S&P 500 ETF Trust-US Reduce -11.5% 0.25% −0.05
IWP iShares Russell Mid-Cap Grow Reduce -2.2% 0.43% −0.05
IVV iShares Core S&P 500 ETF Reduce -10.7% 0.25% −0.05
WAT Waters Corp. Reduce -3.4% 0.89% −0.05
IWF iShares Russell 1000 Growth Sold out 0.00% −0.04
PEG Public Service Enterprise GP Reduce -0.4% 0.93% −0.04
SPMB SS SPDR P Mort Back Bond ETF Reduce -20.1% 0.15% −0.04
AFL Aflac Inc. Reduce -50.1% 0.04% −0.03
DGRO iShares Core Dividend Growth Reduce -2.0% 1.12% −0.02
UNP Union Pacific Corp. Reduce -4.8% 0.95% −0.02
PEP Pepsico Inc. Reduce -0.1% 0.88% −0.02
COST Costco Wholesale Corp. Reduce -3.1% 2.13% −0.02
FDN First Trust DJ Internet Ind Reduce -0.1% 0.17% −0.02
FTSM First Trust Enh Short Mat FD Reduce -11.6% 0.11% −0.02
SCHX Schwab US Large-Cap ETF Reduce -16.2% 0.06% −0.02
JPM JPMorgan Chase & Co. Reduce -2.2% 1.51% −0.01
LMBS First Trust Low Duration Opp Reduce -18.4% 0.05% −0.01
DES Wisdomtree US Smallcap Divid Reduce -12.7% 0.05% −0.01
VPL Vanguard Ftse Pacific ETF Reduce -2.2% 0.94% −0.01
ABT Abbott Laboratories Reduce -22.1% 0.10% −0.01
FNDX Schwab Fndmntl US LRG Co. ETF Reduce -17.9% 0.04% −0.01
IVW iShares S&P 500 Growth ETF Reduce -5.8% 0.05% −0.01
XLE SS Energy Select Sector Reduce -10.0% 0.20% −0.01
PSA Public Storage Reduce -0.1% 0.52% −0.01
PEY Invesco High Yield Equity Di Reduce -7.8% 0.05% −0.00
IGSB iShares 1-5Y Inv Grade Corp. Reduce -0.5% 0.97% −0.00
PGR Progressive Corp. Reduce -12.7% 0.06% +0.00

Portfolio Buys Q4 2024 → Q1 2025
VOT Vngrd Mrngstr MC GRW ETF-Usd New 1.01% +1.01
OWL Blue Owl Capital Inc. New 0.90% +0.90
BSCU Invesco Bulletshares 2030 CB Add +239.8% 1.18% +0.84
BSCW Invesco Bulletshares 2032 CB Add +313.7% 0.72% +0.54
SPGI S&P Global Inc. Add +49.1% 1.32% +0.45
FTSL First Trust Senior Loan ETF Add +17.7% 2.44% +0.32
HYDB iShares High Yield Systemati Add +16.6% 2.27% +0.31
CVX Chevron Corp. Add +1.7% 2.13% +0.30
ING ING Groep N.V.-Sponsored ADR Add +2.0% 0.98% +0.20
ROP Roper Technologies Inc. Add +1.8% 1.26% +0.16
XOM Exxon Mobil Corp. Add +2.3% 1.26% +0.14
IBM Intl Business Machines Corp. Add +0.1% 1.19% +0.13
BRK.B Berkshire Hathaway Inc. Class B Add +2.8% 0.69% +0.11
BSCT Invesco Bulletshares 2029 CB Add +3.3% 3.37% +0.11
FITB Fifth Third Bancorp New 0.11% +0.11
BSCV Invesco Bulletshares 2031 CB Add +2.6% 3.37% +0.11
MA Mastercard Inc. Class A Add +2.9% 1.35% +0.08
SNY Sanofi-ADR Add +0.2% 0.63% +0.08
XLF SS Financial Select Sector Add +22.4% 0.37% +0.07
UNH Unitedhealth Group Inc. Add +1.9% 1.28% +0.06
SCHG Schwab US Large-Cap Growth New 0.04% +0.04
MDY State Street SPDR S&P Midcap New 0.04% +0.04
JNJ Johnson & Johnson New 0.04% +0.04
LLY Eli Lilly & Co. Add +0.6% 0.40% +0.03
IEI iShares 3-7 Year Treasury Bo Add +4.5% 0.42% +0.02
SCHD Schwab US DVD Equity ETF Add +1.8% 0.57% +0.02
META Meta Platforms Inc. Class A Add +35.1% 0.07% +0.02
IGIB iShares 5-10Y Inv Grade Corp. Add +4.0% 0.25% +0.01
SCHA Schwab US Small-Cap ETF Add +30.5% 0.05% +0.01
XLC SS Comm Select Sector SPDR Add +3.7% 0.31% +0.01
XLI SS Industrial Select Sector Add +4.7% 0.20% +0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Add +5.6% 0.06% +0.01
INTU Intuit Inc. Add +9.2% 0.05% +0.00
VGSH Vanguard Short-Term Treasury Add +0.3% 0.61% +0.00
PG The Procter & Gamble Co. Add +0.2% 0.09% +0.00
BAC Bank of America Corp. Add +5.1% 0.05% −0.00
GOVT iShares US Treasury Bond ETF Add +0.7% 0.63% −0.00
EPI Wisdomtree India Earnings Add +3.5% 0.16% −0.00
XLY SS Consumer Disc Select Sect Add +3.4% 0.22% −0.02
ADBE Adobe Inc. Add +13.0% 0.80% −0.03
DON Wisdomtree US Midcap Dividen Add +0.8% 1.09% −0.03
GOOG Alphabet Inc. Class C Add +4.2% 0.19% −0.03
TXN Texas Instruments Inc. Add +1.1% 0.89% −0.04
OEF iShares S&P 100 ETF Add +0.8% 0.67% −0.05
MS Morgan Stanley Add +1.8% 0.68% −0.05
VTI VG Morningstar TS MKT ETF-US Add +1.7% 1.05% −0.05
XLK SS Technology Select Sector Add +4.4% 0.69% −0.06
ACN Accenture PLC Class A Add +3.0% 0.95% −0.10
DHI D.R. Horton Inc. Add +0.1% 0.95% −0.10
EMR Emerson Electric Co. Add +0.5% 0.89% −0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 152$807.6MSOXX, XFIV, BSCV, BSCU, HYDB
Q1 2026 143$729.8MBSCV, HYDB, FTSL, XFIV, BSCU
Q4 2025 138$719.9MBSCV, FTSL, AVGO, HYDB, BSCT
Q3 2025 134$679.2MAVGO, BSCV, BSCT, FTSL, MSFT
Q2 2025 127$644.6MAVGO, BSCV, BSCT, MSFT, FTSL
Q1 2025 120$604.3MBSCT, BSCV, AAPL, AVGO, FTSL
Q4 2024 118$599.1MAVGO, BSCV, BSCT, AAPL, MSFT
Q3 2024 125$577.7MAVGO, AAPL, MSFT, BSCV, BSCT
Q2 2024 130$509.7MAVGO, MSFT, AAPL, COST, IJH
Q1 2024 131$466.5MMSFT, TAP, AVGO, AAPL, IJH