Capital Investment Counsel, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 1, 2025), Capital Investment Counsel, LLC reported 127 stock positions worth $644.6 million. Its top holding was Broadcom (AVGO) at 3.2% of the portfolio, followed by Invesco Bulletshares 2031 CB (BSCV, 3.2%) and Invesco Bulletshares 2029 CB (BSCT, 3.1%). Compared with Q1 2025, it opened 12 new positions, sold out of 5, added to 29 and reduced 78. The biggest buy was Wisdomtree India Earnings (EPI, shares +769%) and the biggest sale an exit from Unitedhealth (UNH).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0002033609
- Portfolio Value
- $644.6M (Q2 2025)
- SEC Filing
- 0001085146-25-004444 ↗ filed Aug 1, 2025
Holdings Value
Holdings 127 stocks · $644.6M
| AVGO Broadcom Inc. | 3.24% | 75,727 | $20.9M | Reduce -13.9% |
| BSCV Invesco Bulletshares 2031 CB | 3.16% | 1,231,957 | $20.4M | Reduce -1.3% |
| BSCT Invesco Bulletshares 2029 CB | 3.12% | 1,075,510 | $20.1M | Reduce -2.2% |
| MSFT Microsoft Corp. | 2.79% | 36,147 | $18.0M | Reduce -4.7% |
| FTSL First Trust Senior Loan ETF | 2.54% | 356,598 | $16.4M | Add +10.5% |
| HYDB iShares High Yield Systemati | 2.36% | 320,003 | $15.2M | Add +9.9% |
| AAPL Apple Inc. | 2.08% | 65,463 | $13.4M | Reduce -6.0% |
| COST Costco Wholesale Corp. | 1.98% | 12,877 | $12.7M | Reduce -5.6% |
| IJH iShares Core S&P Midcap ETF | 1.84% | 191,568 | $11.9M | Reduce -3.2% |
| GOOGL Alphabet Inc. Class A | 1.76% | 64,267 | $11.3M | Reduce -1.7% |
| BSCU Invesco Bulletshares 2030 CB | 1.75% | 671,089 | $11.3M | Add +55.8% |
| CVX Chevron Corp. | 1.72% | 77,324 | $11.1M | Add +0.7% |
| TRI Thomson Reuters Corp. | 1.69% | 54,196 | $10.9M | Reduce -7.0% |
| PWB Invesco Large Cap Growth ETF | 1.68% | 92,290 | $10.8M | Reduce -2.8% |
| QQQ Invesco QQQ Trust Series 1 | 1.66% | 19,436 | $10.7M | Reduce -1.6% |
| ARES Ares Management Corp. Class A | 1.65% | 61,440 | $10.6M | Reduce -5.2% |
| JPM JPMorgan Chase & Co. | 1.62% | 36,066 | $10.5M | Reduce -2.9% |
| TAP Molson Coors Beverage Co. Class B | 1.60% | 214,793 | $10.3M | No change |
| SOXX iShares Semiconductor ETF | 1.55% | 41,799 | $10.0M | Reduce -2.9% |
| ABBV Abbvie Inc. | 1.45% | 50,321 | $9.3M | Reduce -2.4% |
| EPI Wisdomtree India Earnings | 1.44% | 195,374 | $9.3M | Add +769.2% |
| CAT Caterpillar Inc. | 1.34% | 22,223 | $8.6M | Reduce -1.5% |
| WMT Walmart Inc. | 1.33% | 87,981 | $8.6M | Reduce -8.5% |
| AMZN Amazon.com Inc. | 1.33% | 39,123 | $8.6M | Reduce -6.2% |
| SCHF Schwab Intl Equity ETF | 1.32% | 385,773 | $8.5M | Reduce -4.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.29% | 28,229 | $8.3M | Reduce -2.5% |
| DGRO iShares Core Dividend Growth | 1.28% | 128,798 | $8.2M | Add +17.4% |
| MA Mastercard Inc. Class A | 1.26% | 14,477 | $8.1M | Reduce -3.0% |
| WCMI FT WCM International ETF | 1.26% | 509,699 | $8.1M | New |
| SPGI S&P Global Inc. | 1.25% | 15,318 | $8.1M | Reduce -2.8% |
| NOC Northrop Grumman Corp. | 1.22% | 15,790 | $7.9M | Reduce -7.8% |
| DE Deere & Co. | 1.21% | 15,307 | $7.8M | Reduce -4.0% |
| DLR Digital Realty Trust Inc. | 1.21% | 44,609 | $7.8M | Reduce -3.0% |
| BSCW Invesco Bulletshares 2032 CB | 1.16% | 363,105 | $7.5M | Add +70.9% |
| IQLT iShares MSCI International Q | 1.13% | 168,442 | $7.3M | Reduce -3.1% |
| ROP Roper Technologies Inc. | 1.12% | 12,691 | $7.2M | Reduce -1.7% |
| SDVY First Trust Smid Cap Rising | 1.11% | 202,011 | $7.1M | Reduce -3.3% |
| LAMR Lamar Advertising Co. Class A | 1.08% | 57,352 | $7.0M | Reduce -0.6% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 1.06% | 24,071 | $6.8M | Reduce -3.7% |
| VTI VG Morningstar TS MKT ETF-US | 1.06% | 22,481 | $6.8M | Reduce -2.6% |
| DON Wisdomtree US Midcap Dividen | 1.03% | 132,870 | $6.7M | Add +0.3% |
| XOM Exxon Mobil Corp. | 1.00% | 59,725 | $6.4M | Reduce -7.0% |
| EMR Emerson Electric Co. | 0.99% | 48,065 | $6.4M | Reduce -2.1% |
| ING ING Groep N.V.-Sponsored ADR | 0.99% | 291,310 | $6.4M | Reduce -3.3% |
| ORLY O'reilly Automotive Inc. | 0.98% | 70,254 | $6.3M | Reduce -3.0% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.98% | 119,347 | $6.3M | Add +6.1% |
| HD Home Depot Inc. | 0.97% | 17,024 | $6.2M | Reduce -1.3% |
| VPL Vanguard Ftse Pacific ETF | 0.96% | 75,412 | $6.2M | Reduce -3.8% |
| SO The Southern Co. | 0.94% | 66,076 | $6.1M | Reduce -5.9% |
| DHI D.R. Horton Inc. | 0.89% | 44,472 | $5.7M | Reduce -1.8% |
| OWL Blue Owl Capital Inc. | 0.88% | 295,291 | $5.7M | Add +8.3% |
| PEG Public Service Enterprise GP | 0.87% | 66,826 | $5.6M | Reduce -1.7% |
| GILD Gilead Sciences Inc. | 0.85% | 49,452 | $5.5M | Reduce -6.3% |
| EQH Equitable Holdings Inc. | 0.85% | 97,366 | $5.5M | New |
| UNP Union Pacific Corp. | 0.85% | 23,733 | $5.5M | Reduce -2.4% |
| PAYX Paychex Inc. | 0.79% | 35,215 | $5.1M | Reduce -2.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.78% | 60,506 | $5.1M | Add +50.3% |
| MS Morgan Stanley | 0.78% | 35,836 | $5.0M | Add +1.1% |
| AMGN Amgen Inc. | 0.78% | 17,988 | $5.0M | Reduce -2.5% |
| WAT Waters Corp. | 0.77% | 14,146 | $4.9M | Reduce -3.0% |
| ADBE Adobe Inc. | 0.76% | 12,672 | $4.9M | Add +0.9% |
| EOG EOG Resources Inc. | 0.76% | 40,795 | $4.9M | Reduce -5.3% |
| PEP Pepsico Inc. | 0.75% | 36,609 | $4.8M | Add +3.3% |
| SDOG Alps Sector Dividend Dogs | 0.74% | 82,606 | $4.7M | Reduce -0.1% |
| XLK SS Technology Select Sector | 0.70% | 17,816 | $4.5M | Reduce -11.8% |
| UL Unilever PLC | 0.69% | 72,968 | $4.5M | Reduce -4.3% |
| GOVT iShares US Treasury Bond ETF | 0.65% | 182,743 | $4.2M | Add +10.8% |
| VGSH Vanguard Short-Term Treasury | 0.64% | 69,791 | $4.1M | Add +11.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.61% | 8,095 | $3.9M | Add +3.0% |
| FNF Fidelity National Financial | 0.60% | 68,888 | $3.9M | Reduce -4.6% |
| IEI iShares 3-7 Year Treasury Bo | 0.52% | 28,196 | $3.4M | Add +31.2% |
| SNY Sanofi-ADR | 0.51% | 68,204 | $3.3M | Add +0.1% |
| SCHD Schwab US DVD Equity ETF | 0.49% | 120,296 | $3.2M | Reduce -2.6% |
| PSA Public Storage | 0.47% | 10,343 | $3.0M | Reduce -1.7% |
| IWP iShares Russell Mid-Cap Grow | 0.45% | 21,088 | $2.9M | Reduce -3.9% |
| OEF iShares S&P 100 ETF | 0.39% | 8,209 | $2.5M | Reduce -45.3% |
| LLY Eli Lilly & Co. | 0.36% | 2,958 | $2.3M | Add +0.4% |
| ETN Eaton Corp. PLC | 0.35% | 6,379 | $2.3M | No change |
| XLF SS Financial Select Sector | 0.33% | 40,233 | $2.1M | Reduce -10.6% |
| XLC SS Comm Select Sector SPDR | 0.32% | 19,285 | $2.1M | Reduce -2.0% |
| NVDA Nvidia Corp. | 0.27% | 11,113 | $1.8M | Reduce -6.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.27% | 2,840 | $1.8M | Add +5.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.26% | 32,039 | $1.7M | Add +12.1% |
| IVV iShares Core S&P 500 ETF | 0.25% | 2,605 | $1.6M | Reduce -4.5% |
| XLY SS Consumer Disc Select Sect | 0.23% | 6,794 | $1.5M | Reduce -1.3% |
| XLI SS Industrial Select Sector | 0.21% | 9,270 | $1.4M | Reduce -1.4% |
| LMT Lockheed Martin Corp. | 0.19% | 2,695 | $1.2M | No change |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.19% | 14,952 | $1.2M | Add +221.3% |
| FDN First Trust DJ Internet Ind | 0.19% | 4,497 | $1.2M | Reduce -3.6% |
| GOOG Alphabet Inc. Class C | 0.18% | 6,446 | $1.1M | Reduce -12.4% |
| XLE SS Energy Select Sector | 0.17% | 13,104 | $1.1M | Add +0.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.17% | 2,438 | $1.1M | New |
| SHY iShares 1-3 Year Treasury Bo | 0.16% | 12,144 | $1.0M | New |
| WM Waste Management Inc. | 0.16% | 4,384 | $1.0M | No change |
| MDY State Street SPDR S&P Midcap | 0.15% | 1,655 | $938K | Add +255.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.14% | 5,191 | $917K | New |
| SPMB SS SPDR P Mort Back Bond ETF | 0.14% | 39,368 | $870K | Reduce -5.7% |
| SUSA iShares ESG Optimized MSCI U | 0.12% | 6,000 | $761K | Reduce -10.0% |
| QUAL iShares MSCI USA Quality Fac | 0.12% | 4,082 | $746K | New |
| IEF iShares 7-10 Year Treasury B | 0.12% | 7,766 | $744K | New |
Options reported separately and not counted above: AVGO calls ($3K).
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −1.28 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −0.95 |
| TXN Texas Instruments Inc. | Reduce -94.8% | 0.05% | −0.84 |
| AAPL Apple Inc. | Reduce -6.0% | 2.08% | −0.48 |
| ABBV Abbvie Inc. | Reduce -2.4% | 1.45% | −0.34 |
| OEF iShares S&P 100 ETF | Reduce -45.3% | 0.39% | −0.28 |
| XOM Exxon Mobil Corp. | Reduce -7.0% | 1.00% | −0.27 |
| BSCT Invesco Bulletshares 2029 CB | Reduce -2.2% | 3.12% | −0.25 |
| NOC Northrop Grumman Corp. | Reduce -7.8% | 1.22% | −0.23 |
| BSCV Invesco Bulletshares 2031 CB | Reduce -1.3% | 3.16% | −0.21 |
| FNF Fidelity National Financial | Reduce -4.6% | 0.60% | −0.18 |
| AMGN Amgen Inc. | Reduce -2.5% | 0.78% | −0.17 |
| ORLY O'reilly Automotive Inc. | Reduce -3.0% | 0.98% | −0.16 |
| EOG EOG Resources Inc. | Reduce -5.3% | 0.76% | −0.16 |
| COST Costco Wholesale Corp. | Reduce -5.6% | 1.98% | −0.16 |
| ROP Roper Technologies Inc. | Reduce -1.7% | 1.12% | −0.14 |
| GILD Gilead Sciences Inc. | Reduce -6.3% | 0.85% | −0.13 |
| SO The Southern Co. | Reduce -5.9% | 0.94% | −0.13 |
| PAYX Paychex Inc. | Reduce -2.2% | 0.79% | −0.12 |
| WAT Waters Corp. | Reduce -3.0% | 0.77% | −0.12 |
| UNP Union Pacific Corp. | Reduce -2.4% | 0.85% | −0.10 |
| MA Mastercard Inc. Class A | Reduce -3.0% | 1.26% | −0.09 |
| HD Home Depot Inc. | Reduce -1.3% | 0.97% | −0.08 |
| SCHD Schwab US DVD Equity ETF | Reduce -2.6% | 0.49% | −0.08 |
| SPGI S&P Global Inc. | Reduce -2.8% | 1.25% | −0.07 |
| IJH iShares Core S&P Midcap ETF | Reduce -3.2% | 1.84% | −0.07 |
| DHI D.R. Horton Inc. | Reduce -1.8% | 0.89% | −0.06 |
| WMT Walmart Inc. | Reduce -8.5% | 1.33% | −0.06 |
| UL Unilever PLC | Reduce -4.3% | 0.69% | −0.06 |
| SDOG Alps Sector Dividend Dogs | Reduce -0.1% | 0.74% | −0.06 |
| PEG Public Service Enterprise GP | Reduce -1.7% | 0.87% | −0.05 |
| SDVY First Trust Smid Cap Rising | Reduce -3.3% | 1.11% | −0.05 |
| PSA Public Storage | Reduce -1.7% | 0.47% | −0.05 |
| XLF SS Financial Select Sector | Reduce -10.6% | 0.33% | −0.04 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.04 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.04 |
| AFL Aflac Inc. | Sold out | 0.00% | −0.04 |
| DE Deere & Co. | Reduce -4.0% | 1.21% | −0.03 |
| LMBS First Trust Low Duration Opp | Reduce -37.5% | 0.03% | −0.02 |
| FTSM First Trust Enh Short Mat FD | Reduce -12.3% | 0.09% | −0.02 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -5.7% | 0.14% | −0.02 |
| DES Wisdomtree US Smallcap Divid | Reduce -28.0% | 0.03% | −0.02 |
| SCHX Schwab US Large-Cap ETF | Reduce -29.7% | 0.04% | −0.02 |
| ABT Abbott Laboratories | Reduce -11.5% | 0.08% | −0.01 |
| GOOG Alphabet Inc. Class C | Reduce -12.4% | 0.18% | −0.01 |
| IQLT iShares MSCI International Q | Reduce -3.1% | 1.13% | −0.01 |
| PEY Invesco High Yield Equity Di | Reduce -9.2% | 0.04% | −0.01 |
| SUSA iShares ESG Optimized MSCI U | Reduce -10.0% | 0.12% | −0.01 |
| V Visa Inc. Class A | Reduce -4.1% | 0.08% | −0.01 |
| LAMR Lamar Advertising Co. Class A | Reduce -0.6% | 1.08% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| EPI Wisdomtree India Earnings | Add +769.2% | 1.44% | +1.28 |
| WCMI FT WCM International ETF | New | 1.26% | +1.26 |
| EQH Equitable Holdings Inc. | New | 0.85% | +0.85 |
| BSCU Invesco Bulletshares 2030 CB | Add +55.8% | 1.75% | +0.56 |
| BSCW Invesco Bulletshares 2032 CB | Add +70.9% | 1.16% | +0.44 |
| IEFA iShares Core MSCI Eafe ETF | Add +50.3% | 0.78% | +0.28 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.17% | +0.17 |
| DGRO iShares Core Dividend Growth | Add +17.4% | 1.28% | +0.16 |
| SHY iShares 1-3 Year Treasury Bo | New | 0.16% | +0.16 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.14% | +0.14 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +221.3% | 0.19% | +0.13 |
| QUAL iShares MSCI USA Quality Fac | New | 0.12% | +0.12 |
| IEF iShares 7-10 Year Treasury B | New | 0.12% | +0.12 |
| IWF iShares Russell 1000 Growth | New | 0.11% | +0.11 |
| MDY State Street SPDR S&P Midcap | Add +255.9% | 0.15% | +0.10 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | New | 0.10% | +0.10 |
| FTSL First Trust Senior Loan ETF | Add +10.5% | 2.54% | +0.10 |
| IEI iShares 3-7 Year Treasury Bo | Add +31.2% | 0.52% | +0.10 |
| MS Morgan Stanley | Add +1.1% | 0.78% | +0.10 |
| HYDB iShares High Yield Systemati | Add +9.9% | 2.36% | +0.09 |
| RPG Invesco S&P 500 Pure Growth | New | 0.04% | +0.04 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | New | 0.04% | +0.04 |
| IJT iShares S&P Small-Cap 600 GR | New | 0.04% | +0.04 |
| VGSH Vanguard Short-Term Treasury | Add +11.6% | 0.64% | +0.03 |
| GOVT iShares US Treasury Bond ETF | Add +10.8% | 0.65% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +5.8% | 0.27% | +0.02 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +12.1% | 0.26% | +0.02 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +15.5% | 0.05% | +0.01 |
| SCHG Schwab US Large-Cap Growth | Add +0.1% | 0.05% | +0.00 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +6.1% | 0.98% | +0.00 |
| MCD McDonald's Corp. | Add +0.9% | 0.06% | −0.01 |
| PG The Procter & Gamble Co. | Add +3.9% | 0.08% | −0.01 |
| OWL Blue Owl Capital Inc. | Add +8.3% | 0.88% | −0.02 |
| XLE SS Energy Select Sector | Add +0.9% | 0.17% | −0.03 |
| ADBE Adobe Inc. | Add +0.9% | 0.76% | −0.04 |
| LLY Eli Lilly & Co. | Add +0.4% | 0.36% | −0.04 |
| DON Wisdomtree US Midcap Dividen | Add +0.3% | 1.03% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +3.0% | 0.61% | −0.08 |
| SNY Sanofi-ADR | Add +0.1% | 0.51% | −0.11 |
| PEP Pepsico Inc. | Add +3.3% | 0.75% | −0.13 |
| CVX Chevron Corp. | Add +0.7% | 1.72% | −0.41 |
Options Activity Q1 2025 → Q2 2025
| AVGO Broadcom Inc. | call | New | 2,000 | $3K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 152 | $807.6M | SOXX, XFIV, BSCV, BSCU, HYDB |
| Q1 2026 | 143 | $729.8M | BSCV, HYDB, FTSL, XFIV, BSCU |
| Q4 2025 | 138 | $719.9M | BSCV, FTSL, AVGO, HYDB, BSCT |
| Q3 2025 | 134 | $679.2M | AVGO, BSCV, BSCT, FTSL, MSFT |
| Q2 2025 | 127 | $644.6M | AVGO, BSCV, BSCT, MSFT, FTSL |
| Q1 2025 | 120 | $604.3M | BSCT, BSCV, AAPL, AVGO, FTSL |
| Q4 2024 | 118 | $599.1M | AVGO, BSCV, BSCT, AAPL, MSFT |
| Q3 2024 | 125 | $577.7M | AVGO, AAPL, MSFT, BSCV, BSCT |
| Q2 2024 | 130 | $509.7M | AVGO, MSFT, AAPL, COST, IJH |
| Q1 2024 | 131 | $466.5M | MSFT, TAP, AVGO, AAPL, IJH |