Capital Investment Counsel, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Capital Investment Counsel, LLC reported 134 stock positions worth $679.2 million. Its top holding was Broadcom (AVGO) at 3.1% of the portfolio, followed by Invesco Bulletshares 2031 CB (BSCV, 3.1%) and Invesco Bulletshares 2029 CB (BSCT, 2.9%). Compared with Q2 2025, it opened 11 new positions, sold out of 4, added to 63 and reduced 51. The biggest buy was a new position in Bondbloxx BBG 5 YR US Treas (XFIV) and the biggest sale Molson Coors Beverage Class B (TAP, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0002033609
- Portfolio Value
- $679.2M (Q3 2025)
- SEC Filing
- 0002033609-25-000010 ↗ filed Nov 6, 2025
Holdings Value
Holdings 134 stocks · $679.2M
| AVGO Broadcom Inc. | 3.07% | 63,181 | $20.8M | Reduce -16.6% |
| BSCV Invesco Bulletshares 2031 CB | 3.06% | 1,248,132 | $20.8M | Add +1.3% |
| BSCT Invesco Bulletshares 2029 CB | 2.89% | 1,043,662 | $19.6M | Reduce -3.0% |
| FTSL First Trust Senior Loan ETF | 2.77% | 410,767 | $18.8M | Add +15.2% |
| MSFT Microsoft Corp. | 2.67% | 35,041 | $18.1M | Reduce -3.1% |
| HYDB iShares High Yield Systemati | 2.61% | 370,924 | $17.7M | Add +15.9% |
| AAPL Apple Inc. | 2.49% | 66,484 | $16.9M | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 2.22% | 62,064 | $15.1M | Reduce -3.4% |
| BSCU Invesco Bulletshares 2030 CB | 2.22% | 891,356 | $15.1M | Add +32.8% |
| IJH iShares Core S&P Midcap ETF | 1.90% | 197,716 | $12.9M | Add +3.2% |
| COST Costco Wholesale Corp. | 1.75% | 12,876 | $11.9M | Reduce -0.0% |
| QQQ Invesco QQQ Trust Series 1 | 1.74% | 19,630 | $11.8M | Add +1.0% |
| CVX Chevron Corp. | 1.72% | 75,235 | $11.7M | Reduce -2.7% |
| PWB Invesco Large Cap Growth ETF | 1.69% | 91,497 | $11.5M | Reduce -0.9% |
| SOXX iShares Semiconductor ETF | 1.65% | 41,310 | $11.2M | Reduce -1.2% |
| ABBV Abbvie Inc. | 1.63% | 47,839 | $11.1M | Reduce -4.9% |
| JPM JPMorgan Chase & Co. | 1.57% | 33,800 | $10.7M | Reduce -6.3% |
| CAT Caterpillar Inc. | 1.56% | 22,225 | $10.6M | Add +0.0% |
| BSCW Invesco Bulletshares 2032 CB | 1.55% | 503,896 | $10.5M | Add +38.8% |
| DGRO iShares Core Dividend Growth | 1.48% | 147,203 | $10.0M | Add +14.3% |
| NOC Northrop Grumman Corp. | 1.43% | 15,887 | $9.7M | Add +0.6% |
| SCHF Schwab Intl Equity ETF | 1.36% | 397,780 | $9.3M | Add +3.1% |
| ARES Ares Management Corp. Class A | 1.34% | 56,890 | $9.1M | Reduce -7.4% |
| EPI Wisdomtree India Earnings | 1.33% | 203,973 | $9.0M | Add +4.4% |
| WCMI FT WCM International ETF | 1.33% | 533,772 | $9.0M | Add +4.7% |
| WMT Walmart Inc. | 1.31% | 86,145 | $8.9M | Reduce -2.1% |
| AMZN Amazon.com Inc. | 1.23% | 38,066 | $8.4M | Reduce -2.7% |
| MA Mastercard Inc. Class A | 1.18% | 14,059 | $8.0M | Reduce -2.9% |
| VTI VG Morningstar TS MKT ETF-US | 1.15% | 23,848 | $7.8M | Add +6.1% |
| SDVY First Trust Smid Cap Rising | 1.15% | 205,718 | $7.8M | Add +1.8% |
| IQLT iShares MSCI International Q | 1.13% | 172,956 | $7.6M | Add +2.7% |
| ORLY O'reilly Automotive Inc. | 1.12% | 70,654 | $7.6M | Add +0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.11% | 26,741 | $7.5M | Reduce -5.3% |
| DHI D.R. Horton Inc. | 1.10% | 44,054 | $7.5M | Reduce -0.9% |
| TRI Thomson Reuters Corp. | 1.08% | 47,367 | $7.4M | Reduce -12.6% |
| LAMR Lamar Advertising Co. Class A | 1.07% | 59,548 | $7.3M | Add +3.8% |
| DON Wisdomtree US Midcap Dividen | 1.06% | 137,270 | $7.2M | Add +3.3% |
| DLR Digital Realty Trust Inc. | 1.06% | 41,516 | $7.2M | Reduce -6.9% |
| SPGI S&P Global Inc. | 1.05% | 14,701 | $7.2M | Reduce -4.0% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 1.05% | 24,350 | $7.2M | Add +1.2% |
| DE Deere & Co. | 1.05% | 15,619 | $7.1M | Add +2.0% |
| ING ING Groep N.V.-Sponsored ADR | 1.04% | 270,010 | $7.0M | Reduce -7.3% |
| XFIV Bondbloxx BBG 5 YR US Treas | 1.03% | 141,017 | $7.0M | New |
| XOM Exxon Mobil Corp. | 1.00% | 60,341 | $6.8M | Add +1.0% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.98% | 126,097 | $6.7M | Add +5.7% |
| VPL Vanguard Ftse Pacific ETF | 0.98% | 75,786 | $6.7M | Add +0.5% |
| HD Home Depot Inc. | 0.97% | 16,314 | $6.6M | Reduce -4.2% |
| EMR Emerson Electric Co. | 0.94% | 48,528 | $6.4M | Add +1.0% |
| ROP Roper Technologies Inc. | 0.92% | 12,540 | $6.3M | Reduce -1.2% |
| MS Morgan Stanley | 0.86% | 36,671 | $5.8M | Add +2.3% |
| SO The Southern Co. | 0.85% | 60,671 | $5.7M | Reduce -8.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.83% | 64,885 | $5.7M | Add +7.2% |
| UNP Union Pacific Corp. | 0.82% | 23,636 | $5.6M | Reduce -0.4% |
| GILD Gilead Sciences Inc. | 0.80% | 48,974 | $5.4M | Reduce -1.0% |
| XLK SS Technology Select Sector | 0.80% | 19,222 | $5.4M | Add +7.9% |
| SDOG Alps Sector Dividend Dogs | 0.76% | 86,219 | $5.2M | Add +4.4% |
| AMGN Amgen Inc. | 0.76% | 18,363 | $5.2M | Add +2.1% |
| PEG Public Service Enterprise GP | 0.76% | 62,008 | $5.2M | Reduce -7.2% |
| EQH Equitable Holdings Inc. | 0.74% | 99,516 | $5.1M | Add +2.2% |
| OWL Blue Owl Capital Inc. | 0.74% | 295,973 | $5.0M | Add +0.2% |
| SPMO Invesco S&P 500 Momentum ETF | 0.73% | 41,240 | $5.0M | New |
| PEP Pepsico Inc. | 0.71% | 34,552 | $4.9M | Reduce -5.6% |
| GOVT iShares US Treasury Bond ETF | 0.68% | 199,024 | $4.6M | Add +8.9% |
| PAYX Paychex Inc. | 0.67% | 35,730 | $4.5M | Add +1.5% |
| TAP Molson Coors Beverage Co. Class B | 0.66% | 99,567 | $4.5M | Reduce -53.6% |
| VGSH Vanguard Short-Term Treasury | 0.65% | 75,244 | $4.4M | Add +7.8% |
| FNF Fidelity National Financial | 0.65% | 72,572 | $4.4M | Add +5.3% |
| UL Unilever PLC | 0.65% | 73,954 | $4.4M | Add +1.4% |
| ADBE Adobe Inc. | 0.64% | 12,248 | $4.3M | Reduce -3.4% |
| WAT Waters Corp. | 0.63% | 14,166 | $4.2M | Add +0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.60% | 8,060 | $4.1M | Reduce -0.4% |
| SCHD Schwab US DVD Equity ETF | 0.51% | 125,812 | $3.4M | Add +4.6% |
| IWP iShares Russell Mid-Cap Grow | 0.46% | 22,127 | $3.2M | Add +4.9% |
| PSA Public Storage | 0.45% | 10,675 | $3.1M | Add +3.2% |
| XLC SS Comm Select Sector SPDR | 0.44% | 25,431 | $3.0M | Add +31.9% |
| OEF iShares S&P 100 ETF | 0.42% | 8,648 | $2.9M | Add +5.3% |
| IEI iShares 3-7 Year Treasury Bo | 0.40% | 22,918 | $2.7M | Reduce -18.7% |
| XLF SS Financial Select Sector | 0.36% | 45,152 | $2.4M | Add +12.2% |
| LLY Eli Lilly & Co. | 0.34% | 2,982 | $2.3M | Add +0.8% |
| NVDA Nvidia Corp. | 0.32% | 11,697 | $2.2M | Add +5.3% |
| XLI SS Industrial Select Sector | 0.31% | 13,765 | $2.1M | Add +48.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.28% | 35,673 | $1.9M | Add +11.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.27% | 2,737 | $1.8M | Reduce -3.6% |
| XLY SS Consumer Disc Select Sect | 0.27% | 7,510 | $1.8M | Add +10.5% |
| IVV iShares Core S&P 500 ETF | 0.25% | 2,532 | $1.7M | Reduce -2.8% |
| GOOG Alphabet Inc. Class C | 0.25% | 6,880 | $1.7M | Add +6.7% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.22% | 17,087 | $1.5M | Add +14.3% |
| QUAL iShares MSCI USA Quality Fac | 0.21% | 7,326 | $1.4M | Add +79.5% |
| ETN Eaton Corp. PLC | 0.20% | 3,695 | $1.4M | Reduce -42.1% |
| IWF iShares Russell 1000 Growth | 0.19% | 2,821 | $1.3M | Add +71.7% |
| MDY State Street SPDR S&P Midcap | 0.18% | 2,095 | $1.2M | Add +26.6% |
| FDN First Trust DJ Internet Ind | 0.18% | 4,252 | $1.2M | Reduce -5.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.17% | 2,395 | $1.1M | Reduce -1.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.15% | 5,501 | $1.0M | Add +6.0% |
| LMT Lockheed Martin Corp. | 0.13% | 1,831 | $914K | Reduce -32.1% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.12% | 37,281 | $837K | Reduce -5.3% |
| SUSA iShares ESG Optimized MSCI U | 0.12% | 6,000 | $814K | No change |
| RPG Invesco S&P 500 Pure Growth | 0.12% | 16,959 | $809K | Add +197.9% |
| FITB Fifth Third Bancorp | 0.11% | 17,201 | $766K | No change |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.10% | 1,757 | $707K | Reduce -4.0% |
Options reported separately and not counted above: AVGO calls ($215), NVDA calls ($105).
Portfolio Sells Q2 2025 → Q3 2025
| TAP Molson Coors Beverage Co. Class B | Reduce -53.6% | 0.66% | −0.94 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.76 |
| TRI Thomson Reuters Corp. | Reduce -12.6% | 1.08% | −0.61 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.51 |
| ARES Ares Management Corp. Class A | Reduce -7.4% | 1.34% | −0.31 |
| BSCT Invesco Bulletshares 2029 CB | Reduce -3.0% | 2.89% | −0.23 |
| COST Costco Wholesale Corp. | Reduce -0.0% | 1.75% | −0.22 |
| SPGI S&P Global Inc. | Reduce -4.0% | 1.05% | −0.20 |
| ROP Roper Technologies Inc. | Reduce -1.2% | 0.92% | −0.20 |
| IBM Intl Business Machines Corp. | Reduce -5.3% | 1.11% | −0.18 |
| AVGO Broadcom Inc. | Reduce -16.6% | 3.07% | −0.17 |
| DLR Digital Realty Trust Inc. | Reduce -6.9% | 1.06% | −0.15 |
| ETN Eaton Corp. PLC | Reduce -42.1% | 0.20% | −0.15 |
| XLE SS Energy Select Sector | Reduce -78.1% | 0.04% | −0.13 |
| ADBE Adobe Inc. | Reduce -3.4% | 0.64% | −0.12 |
| WM Waste Management Inc. | Reduce -75.5% | 0.03% | −0.12 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -18.7% | 0.40% | −0.12 |
| MSFT Microsoft Corp. | Reduce -3.1% | 2.67% | −0.12 |
| PEG Public Service Enterprise GP | Reduce -7.2% | 0.76% | −0.11 |
| AMZN Amazon.com Inc. | Reduce -2.7% | 1.23% | −0.10 |
| SO The Southern Co. | Reduce -8.2% | 0.85% | −0.09 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -56.5% | 0.06% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -2.9% | 1.18% | −0.08 |
| LMT Lockheed Martin Corp. | Reduce -32.1% | 0.13% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -6.3% | 1.57% | −0.05 |
| IEF iShares 7-10 Year Treasury B | Reduce -42.4% | 0.06% | −0.05 |
| GILD Gilead Sciences Inc. | Reduce -1.0% | 0.80% | −0.05 |
| PEY Invesco High Yield Equity Di | Sold out | 0.00% | −0.04 |
| ABT Abbott Laboratories | Reduce -42.4% | 0.04% | −0.04 |
| PEP Pepsico Inc. | Reduce -5.6% | 0.71% | −0.04 |
| LMBS First Trust Low Duration Opp | Sold out | 0.00% | −0.03 |
| WMT Walmart Inc. | Reduce -2.1% | 1.31% | −0.03 |
| UNP Union Pacific Corp. | Reduce -0.4% | 0.82% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -14.8% | 0.04% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 0.60% | −0.01 |
| FDN First Trust DJ Internet Ind | Reduce -5.5% | 0.18% | −0.01 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -5.3% | 0.12% | −0.01 |
| SCHA Schwab US Small-Cap ETF | Reduce -23.1% | 0.04% | −0.01 |
| FTSM First Trust Enh Short Mat FD | Reduce -5.6% | 0.08% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -1.9% | 0.07% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -21.6% | 0.03% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.6% | 0.27% | −0.00 |
| DVY iShares Select Dividend ETF | Reduce -7.2% | 0.04% | −0.00 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Reduce -5.4% | 0.05% | −0.00 |
| IVV iShares Core S&P 500 ETF | Reduce -2.8% | 0.25% | −0.00 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -4.0% | 0.10% | +0.00 |
| CVX Chevron Corp. | Reduce -2.7% | 1.72% | +0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -1.8% | 0.17% | +0.00 |
| HD Home Depot Inc. | Reduce -4.2% | 0.97% | +0.00 |
| PWB Invesco Large Cap Growth ETF | Reduce -0.9% | 1.69% | +0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| XFIV Bondbloxx BBG 5 YR US Treas | New | 1.03% | +1.03 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.73% | +0.73 |
| BSCU Invesco Bulletshares 2030 CB | Add +32.8% | 2.22% | +0.47 |
| AAPL Apple Inc. | Add +1.6% | 2.49% | +0.41 |
| BSCW Invesco Bulletshares 2032 CB | Add +38.8% | 1.55% | +0.39 |
| HYDB iShares High Yield Systemati | Add +15.9% | 2.61% | +0.26 |
| FTSL First Trust Senior Loan ETF | Add +15.2% | 2.77% | +0.23 |
| CAT Caterpillar Inc. | Add +0.0% | 1.56% | +0.22 |
| NOC Northrop Grumman Corp. | Add +0.6% | 1.43% | +0.20 |
| DGRO iShares Core Dividend Growth | Add +14.3% | 1.48% | +0.20 |
| ORLY O'reilly Automotive Inc. | Add +0.6% | 1.12% | +0.14 |
| XLC SS Comm Select Sector SPDR | Add +31.9% | 0.44% | +0.12 |
| XLI SS Industrial Select Sector | Add +48.5% | 0.31% | +0.10 |
| XLK SS Technology Select Sector | Add +7.9% | 0.80% | +0.10 |
| QUAL iShares MSCI USA Quality Fac | Add +79.5% | 0.21% | +0.09 |
| VTI VG Morningstar TS MKT ETF-US | Add +6.1% | 1.15% | +0.09 |
| IWF iShares Russell 1000 Growth | Add +71.7% | 0.19% | +0.09 |
| RPG Invesco S&P 500 Pure Growth | Add +197.9% | 0.12% | +0.08 |
| MS Morgan Stanley | Add +2.3% | 0.86% | +0.08 |
| TSLA Tesla Inc. | New | 0.07% | +0.07 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.0% | 1.74% | +0.07 |
| GOOG Alphabet Inc. Class C | Add +6.7% | 0.25% | +0.07 |
| WCMI FT WCM International ETF | Add +4.7% | 1.33% | +0.07 |
| IJH iShares Core S&P Midcap ETF | Add +3.2% | 1.90% | +0.06 |
| VYM Vanguard High DVD Yield ETF | New | 0.05% | +0.05 |
| SPHQ Invesco S&P 500 Quality ETF | New | 0.05% | +0.05 |
| IEFA iShares Core MSCI Eafe ETF | Add +7.2% | 0.83% | +0.05 |
| NVDA Nvidia Corp. | Add +5.3% | 0.32% | +0.05 |
| FNF Fidelity National Financial | Add +5.3% | 0.65% | +0.05 |
| SDVY First Trust Smid Cap Rising | Add +1.8% | 1.15% | +0.05 |
| IXUS iShares Core Intl Stock ETF | New | 0.04% | +0.04 |
| SCHF Schwab Intl Equity ETF | Add +3.1% | 1.36% | +0.04 |
| GLD SPDR Gold Shares | New | 0.04% | +0.04 |
| MDY State Street SPDR S&P Midcap | Add +26.6% | 0.18% | +0.04 |
| OEF iShares S&P 100 ETF | Add +5.3% | 0.42% | +0.04 |
| XLY SS Consumer Disc Select Sect | Add +10.5% | 0.27% | +0.04 |
| VIG Vanguard Dividend Apprec ETF | New | 0.03% | +0.03 |
| VOO Vanguard S&P 500 ETF | New | 0.03% | +0.03 |
| JNJ Johnson & Johnson | New | 0.03% | +0.03 |
| XLF SS Financial Select Sector | Add +12.2% | 0.36% | +0.03 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +14.3% | 0.22% | +0.03 |
| SCHM Schwab US Mid Cap ETF | New | 0.03% | +0.03 |
| SDOG Alps Sector Dividend Dogs | Add +4.4% | 0.76% | +0.03 |
| GOVT iShares US Treasury Bond ETF | Add +8.9% | 0.68% | +0.03 |
| DON Wisdomtree US Midcap Dividen | Add +3.3% | 1.06% | +0.02 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +11.3% | 0.28% | +0.02 |
| VPL Vanguard Ftse Pacific ETF | Add +0.5% | 0.98% | +0.02 |
| VGSH Vanguard Short-Term Treasury | Add +7.8% | 0.65% | +0.02 |
| SCHD Schwab US DVD Equity ETF | Add +4.6% | 0.51% | +0.01 |
| IWP iShares Russell Mid-Cap Grow | Add +4.9% | 0.46% | +0.01 |
Options Activity Q2 2025 → Q3 2025
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 |