Capital Investment Counsel, LLC

Name: Capital Investment Counsel, LLC 13F holdings, Q2 2025
Creator: Capital Investment Counsel, LLC
Published: 2025-08-01

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

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
FITB Fifth Third Bancorp	0.11%	17,201	$707K	No change
IWF iShares Russell 1000 Growth	0.11%	1,643	$698K	New
MGK Vngrd Mrgstr MG CP GR ETF-Ui	0.10%	1,831	$670K	New
FTSM First Trust Enh Short Mat FD	0.09%	9,903	$593K	Reduce -12.3%
V Visa Inc. Class A	0.08%	1,487	$528K	Reduce -4.1%
ABT Abbott Laboratories	0.08%	3,855	$524K	Reduce -11.5%
PG The Procter & Gamble Co.	0.08%	3,163	$504K	Add +3.9%
META Meta Platforms Inc. Class A	0.07%	574	$424K	Reduce -24.0%
IVW iShares S&P 500 Growth ETF	0.06%	3,536	$389K	No change
INTU Intuit Inc.	0.06%	486	$383K	Reduce -7.3%
MCD McDonald's Corp.	0.06%	1,276	$373K	Add +0.9%
PGR Progressive Corp.	0.06%	1,371	$366K	No change
SCHA Schwab US Small-Cap ETF	0.05%	13,618	$345K	Reduce -0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.05%	6,983	$330K	Reduce -3.4%
TXN Texas Instruments Inc.	0.05%	1,550	$322K	Reduce -94.8%
SCHG Schwab US Large-Cap Growth	0.05%	10,745	$314K	Add +0.1%
FNDX Schwab Fndmntl US LRG Co. ETF	0.05%	12,729	$312K	Add +15.5%
DVY iShares Select Dividend ETF	0.04%	2,085	$277K	Reduce -5.0%
PEY Invesco High Yield Equity Di	0.04%	13,490	$275K	Reduce -9.2%
SCHX Schwab US Large-Cap ETF	0.04%	11,137	$272K	Reduce -29.7%
HCA HCA Healthcare Inc.	0.04%	685	$262K	Reduce -1.9%
RPG Invesco S&P 500 Pure Growth	0.04%	5,693	$261K	New
VBR Vngrd Mrngst SL-CP Val ETF-U	0.04%	1,296	$253K	New
ITB iShares U.S. Home Constructi	0.04%	2,680	$250K	No change
IJT iShares S&P Small-Cap 600 GR	0.04%	1,728	$230K	New
DES Wisdomtree US Smallcap Divid	0.03%	6,750	$214K	Reduce -28.0%
LMBS First Trust Low Duration Opp	0.03%	4,195	$207K	Reduce -37.5%

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