Carnegie Investment Counsel
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 15, 2025), Carnegie Investment Counsel reported 455 stock positions worth $3.5 billion. Its top holding was Apple (AAPL) at 4.8% of the portfolio, followed by Microsoft (MSFT, 3.4%) and Nvidia (NVDA, 2.8%). Compared with Q3 2024, it opened 24 new positions, sold out of 32, added to 190 and reduced 180. The biggest buy was Soundhound AI Class A (SOUN, shares +9%) and the biggest sale an exit from Genuine Parts (GPC).
- Most Recent 13F
- Q2 2026
- Location
- PEPPER PIKE, OH
- CIK
- 0001511506
- Portfolio Value
- $3.5B (Q4 2024)
- SEC Filing
- 0001085146-25-000199 ↗ filed Jan 15, 2025
Holdings Value
Holdings 455 stocks · $3.5B
| AAPL Apple Inc. | 4.78% | 663,700 | $166.2M | Add +2.1% |
| MSFT Microsoft Corp. | 3.44% | 284,454 | $119.9M | Add +2.2% |
| NVDA Nvidia Corp. | 2.83% | 732,553 | $98.4M | Reduce -1.6% |
| AMZN Amazon.com Inc. | 2.76% | 438,631 | $96.2M | Add +0.1% |
| JPM JPMorgan Chase & Co. | 2.42% | 351,095 | $84.2M | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 2.28% | 419,119 | $79.3M | Reduce -1.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.12% | 162,929 | $73.9M | Reduce -1.6% |
| PGR Progressive Corp. | 1.93% | 280,488 | $67.2M | Add +0.7% |
| MA Mastercard Inc. Class A | 1.74% | 115,096 | $60.6M | Reduce -0.6% |
| ETN Eaton Corp. PLC | 1.69% | 177,183 | $58.8M | Reduce -1.6% |
| SHW The Sherwin-Williams Co. | 1.66% | 169,992 | $57.8M | Add +0.4% |
| META Meta Platforms Inc. Class A | 1.40% | 83,275 | $48.8M | Reduce -1.1% |
| AVGO Broadcom Inc. | 1.35% | 202,486 | $46.9M | Add +8.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.28% | 75,921 | $44.5M | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 1.26% | 230,704 | $43.9M | Reduce -1.6% |
| SYK Stryker Corp. | 1.18% | 114,184 | $41.1M | Add +1.5% |
| XLK SS Technology Select Sector | 1.13% | 168,481 | $39.2M | Add +0.0% |
| LOW Lowe's Cos Inc. | 1.09% | 154,256 | $38.1M | Add +0.1% |
| SCHW Schwab (charles) Corp. | 0.97% | 455,659 | $33.7M | Reduce -0.6% |
| COST Costco Wholesale Corp. | 0.94% | 35,756 | $32.8M | Add +0.7% |
| ACN Accenture PLC Class A | 0.92% | 91,487 | $32.2M | Add +4.4% |
| V Visa Inc. Class A | 0.92% | 100,926 | $31.9M | Reduce -2.5% |
| ANSS Ansys Inc. | 0.90% | 93,225 | $31.4M | Add +0.9% |
| TMO Thermo Fisher Scientific Inc. | 0.88% | 58,951 | $30.7M | Add +1.3% |
| NEE Nextera Energy Inc. | 0.87% | 424,668 | $30.4M | Add +3.3% |
| ECL Ecolab Inc. | 0.87% | 128,532 | $30.1M | Add +4.0% |
| BLK BlackRock Inc. | 0.83% | 28,277 | $29.0M | Reduce -0.5% |
| NOC Northrop Grumman Corp. | 0.79% | 58,748 | $27.6M | Add +0.4% |
| AMGN Amgen Inc. | 0.78% | 104,819 | $27.3M | Add +5.4% |
| RDDT Reddit Inc. Class A | 0.76% | 161,205 | $26.3M | Reduce -5.2% |
| QCOM Qualcomm Inc. | 0.75% | 170,517 | $26.2M | Reduce -0.7% |
| PEP Pepsico Inc. | 0.75% | 170,709 | $26.0M | Reduce -4.9% |
| ADBE Adobe Inc. | 0.74% | 57,889 | $25.7M | Reduce -9.7% |
| ZTS Zoetis Inc. | 0.73% | 154,945 | $25.2M | Reduce -1.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.72% | 208,545 | $25.2M | Add +2.5% |
| UNP Union Pacific Corp. | 0.72% | 109,212 | $24.9M | Reduce -7.1% |
| KNSL Kinsale Capital Group Inc. | 0.72% | 53,518 | $24.9M | Reduce -0.4% |
| PYPL PayPal Holdings Inc. | 0.70% | 285,232 | $24.3M | Add +29.7% |
| AMT American Tower Corp. | 0.66% | 124,819 | $22.9M | Reduce -0.6% |
| ROK Rockwell Automation Inc. | 0.65% | 79,669 | $22.8M | Reduce -0.9% |
| ABT Abbott Laboratories | 0.64% | 197,549 | $22.3M | Add +1.8% |
| IQLT iShares MSCI International Q | 0.64% | 597,373 | $22.2M | Add +3.0% |
| IONQ Ionq Inc. | 0.62% | 514,699 | $21.5M | Reduce -10.7% |
| CRDO Credo Technology Group Holdi | 0.60% | 309,080 | $20.8M | Reduce -0.9% |
| AMAT Applied Materials Inc. | 0.59% | 127,231 | $20.7M | Reduce -5.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.59% | 295,715 | $20.4M | Add +9.8% |
| MRSH Marsh & McLennan Cos | 0.58% | 94,384 | $20.0M | Add +5.0% |
| CSX CSX Corp. | 0.57% | 612,051 | $19.8M | Add +1.4% |
| NET Cloudflare Inc. Class A | 0.56% | 181,093 | $19.5M | Add +7.3% |
| SOUN Soundhound AI Inc. Class A | 0.56% | 982,050 | $19.5M | Add +9.2% |
| VIG Vanguard Dividend Apprec ETF | 0.56% | 99,461 | $19.5M | Add +1.8% |
| WMT Walmart Inc. | 0.56% | 215,123 | $19.4M | Add +0.5% |
| HD Home Depot Inc. | 0.56% | 49,931 | $19.4M | Add +5.2% |
| CVX Chevron Corp. | 0.54% | 129,115 | $18.7M | Reduce -1.6% |
| JNJ Johnson & Johnson | 0.53% | 128,659 | $18.6M | Reduce -3.9% |
| KMI Kinder Morgan Inc. | 0.52% | 665,412 | $18.2M | Add +5.0% |
| OTIS Otis Worldwide Corp. | 0.51% | 192,674 | $17.8M | Add +1.2% |
| TMUS T-Mobile US Inc. | 0.51% | 80,392 | $17.7M | Add +9.7% |
| ZBRA Zebra Technologies Corp. Class A | 0.50% | 45,399 | $17.5M | Reduce -0.4% |
| MTD Mettler-Toledo International | 0.50% | 14,256 | $17.4M | Add +1.5% |
| VOO Vanguard S&P 500 ETF | 0.50% | 32,205 | $17.4M | Add +4.3% |
| TW Tradeweb Markets Inc. Class A | 0.49% | 130,635 | $17.1M | Add +1.5% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.49% | 194,484 | $17.1M | Reduce -2.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.49% | 198,545 | $17.1M | Reduce -7.0% |
| TEL Te Connectivity PLC | 0.49% | 119,041 | $17.0M | Add +4.3% |
| WSO Watsco Inc. | 0.46% | 34,034 | $16.1M | Reduce -0.4% |
| IBTF iShares Ibonds Dec 2025 Term | 0.45% | 674,673 | $15.7M | Add +20.4% |
| CASY Casey's General Stores Inc. | 0.45% | 39,634 | $15.7M | Add +6.8% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.45% | 344,851 | $15.5M | Add +3.3% |
| RSG Republic Services Inc. | 0.44% | 76,883 | $15.5M | Reduce -1.1% |
| CSCO Cisco Systems Inc. | 0.44% | 257,313 | $15.2M | Add +8.4% |
| XLF SS Financial Select Sector | 0.43% | 307,711 | $14.9M | Reduce -0.9% |
| CHD Church & Dwight Co. Inc. | 0.42% | 139,884 | $14.6M | Add +1.5% |
| LMT Lockheed Martin Corp. | 0.41% | 29,643 | $14.4M | Add +3.5% |
| CTAS Cintas Corp. | 0.41% | 77,620 | $14.2M | Add +4.3% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.40% | 1,347,980 | $14.0M | Add +5.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.39% | 51,727 | $13.7M | Add +3.4% |
| MCD McDonald's Corp. | 0.39% | 47,085 | $13.6M | Add +44.3% |
| UNH Unitedhealth Group Inc. | 0.39% | 26,612 | $13.5M | Add +0.2% |
| MDY State Street SPDR S&P Midcap | 0.38% | 23,520 | $13.4M | Reduce -2.3% |
| RTX RTX Corp. | 0.38% | 114,519 | $13.3M | Add +1.1% |
| CB Chubb Ltd. | 0.37% | 46,862 | $12.9M | Reduce -1.1% |
| PM Philip Morris International | 0.35% | 102,145 | $12.3M | Add +0.1% |
| UBER Uber Technologies Inc. | 0.35% | 202,996 | $12.2M | Add +1955.0% |
| EMR Emerson Electric Co. | 0.34% | 96,394 | $11.9M | Add +4.1% |
| XLV SS Health Care Select Sector | 0.34% | 85,740 | $11.8M | Add +5.5% |
| STE Steris PLC | 0.34% | 57,188 | $11.8M | Add +1.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.34% | 22,936 | $11.7M | Reduce -0.5% |
| OEF iShares S&P 100 ETF | 0.33% | 39,288 | $11.3M | Add +4.3% |
| SHOP Shopify Inc. Class A | 0.32% | 105,746 | $11.2M | Add +0.4% |
| RSP Invesco S&P 500 Equal Weight | 0.32% | 62,935 | $11.0M | Add +4.9% |
| IBTG iShares Ibonds Dec 2026 Term | 0.30% | 460,684 | $10.5M | Add +407.0% |
| URI United Rentals Inc. | 0.30% | 14,716 | $10.4M | Add +1.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.30% | 235,801 | $10.4M | Reduce -5.0% |
| WING Wingstop Inc. | 0.29% | 35,675 | $10.1M | Add +32.5% |
| POST Post Holdings Inc. filed as POST HLDGS INC | 0.29% | 88,199 | $10.1M | Add +9.1% |
| PG The Procter & Gamble Co. | 0.28% | 58,927 | $9.9M | Add +1.6% |
| HON Honeywell International Inc. | 0.28% | 42,656 | $9.6M | Add +8.7% |
| DE Deere & Co. | 0.27% | 22,407 | $9.5M | Reduce -1.1% |
| DELL Dell Technologies -C | 0.27% | 81,330 | $9.4M | Add +40.8% |
Options reported separately and not counted above: SPY puts ($2.1M).
Portfolio Sells Q3 2024 → Q4 2024
| GPC Genuine Parts Co. | Sold out | 0.00% | −0.27 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -7.0% | 0.49% | −0.26 |
| ADBE Adobe Inc. | Reduce -9.7% | 0.74% | −0.24 |
| TEM Tempus AI Inc. Class A | Sold out | 0.00% | −0.23 |
| DKNG Draftkings Inc. Class A | Reduce -76.2% | 0.06% | −0.22 |
| AMAT Applied Materials Inc. | Reduce -5.5% | 0.59% | −0.21 |
| AMT American Tower Corp. | Reduce -0.6% | 0.66% | −0.20 |
| NKE Nike Inc. Class B | Reduce -50.5% | 0.14% | −0.20 |
| ZTS Zoetis Inc. | Reduce -1.0% | 0.73% | −0.18 |
| IBTE iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −0.16 |
| PEP Pepsico Inc. | Reduce -4.9% | 0.75% | −0.15 |
| UNP Union Pacific Corp. | Reduce -7.1% | 0.72% | −0.14 |
| GXO Gxo Logistics Inc. | Reduce -35.8% | 0.14% | −0.13 |
| MAS Masco Corp. | Reduce -22.5% | 0.23% | −0.12 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.6% | 2.12% | −0.12 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.12 |
| TAN Invesco Solar ETF | Sold out | 0.00% | −0.11 |
| EWW iShares MSCI Mexico ETF | Sold out | 0.00% | −0.11 |
| QCOM Qualcomm Inc. | Reduce -0.7% | 0.75% | −0.11 |
| JNJ Johnson & Johnson | Reduce -3.9% | 0.53% | −0.10 |
| BSCO Invesco Bulletshares 2024 CB | Sold out | 0.00% | −0.10 |
| COIN Coinbase Global Inc. Class A | Reduce -56.8% | 0.12% | −0.08 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.07 |
| ETN Eaton Corp. PLC | Reduce -1.6% | 1.69% | −0.07 |
| WPC WP Carey Inc. | Reduce -7.3% | 0.25% | −0.07 |
| PFE Pfizer Inc. | Reduce -53.9% | 0.04% | −0.05 |
| QS Quantumscape Corp. | Reduce -96.1% | 0.00% | −0.05 |
| PLD Prologis Inc. | Reduce -61.8% | 0.02% | −0.05 |
| BSCQ Invesco Bulletshares 2026 CB | Reduce -22.4% | 0.14% | −0.05 |
| OCSL Oaktree Specialty Lending Co. | Reduce -74.0% | 0.01% | −0.05 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -25.6% | 0.12% | −0.05 |
| HBAN Huntington Bancshares Inc. | Reduce -21.1% | 0.22% | −0.04 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -69.2% | 0.01% | −0.04 |
| LEN.B Lennar Corp. Class B | Reduce -10.6% | 0.07% | −0.04 |
| UPS United Parcel Service Class B | Reduce -41.4% | 0.04% | −0.04 |
| IWN iShares Russell 2000 Value E | Reduce -47.1% | 0.04% | −0.03 |
| MPC Marathon Petroleum Corp. | Reduce -9.0% | 0.11% | −0.03 |
| AKAM Akamai Technologies Inc. | Reduce -6.6% | 0.20% | −0.03 |
| CVX Chevron Corp. | Reduce -1.6% | 0.54% | −0.03 |
| WSO Watsco Inc. | Reduce -0.4% | 0.46% | −0.03 |
| CB Chubb Ltd. | Reduce -1.1% | 0.37% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.9% | 1.28% | −0.03 |
| BSJP Invesco Bulletshares 2025 HY | Reduce -76.1% | 0.01% | −0.03 |
| STZ Constellation Brands Inc. Class A | Reduce -35.8% | 0.03% | −0.03 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -1.5% | 0.22% | −0.03 |
| BKNG Booking Holdings Inc. | Reduce -50.2% | 0.04% | −0.03 |
| CGCP Cap Group Core Plus Income | Sold out | 0.00% | −0.03 |
| BSMO Invesco Bulletshares 2024 MB | Sold out | 0.00% | −0.02 |
| KNSL Kinsale Capital Group Inc. | Reduce -0.4% | 0.72% | −0.02 |
| NDSN Nordson Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| SOUN Soundhound AI Inc. Class A | Add +9.2% | 0.56% | +0.44 |
| AVGO Broadcom Inc. | Add +8.1% | 1.35% | +0.40 |
| AMZN Amazon.com Inc. | Add +0.1% | 2.76% | +0.36 |
| UBER Uber Technologies Inc. | Add +1955.0% | 0.35% | +0.33 |
| AAPL Apple Inc. | Add +2.1% | 4.78% | +0.32 |
| IBTG iShares Ibonds Dec 2026 Term | Add +407.0% | 0.30% | +0.24 |
| S Sentinelone Inc. Class A | New | 0.21% | +0.21 |
| PYPL PayPal Holdings Inc. | Add +29.7% | 0.70% | +0.19 |
| SGOV iShares 0-3 Month Treasury B | Add +215.0% | 0.26% | +0.18 |
| NET Cloudflare Inc. Class A | Add +7.3% | 0.56% | +0.16 |
| PLTR Palantir Technologies Inc. Class A | Add +17.2% | 0.26% | +0.15 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +111.3% | 0.19% | +0.12 |
| KMI Kinder Morgan Inc. | Add +5.0% | 0.52% | +0.11 |
| CMG Chipotle Mexican Grill Inc. | Add +70.4% | 0.24% | +0.10 |
| MCD McDonald's Corp. | Add +44.3% | 0.39% | +0.10 |
| HIMS Hims & Hers Health Inc. | Add +25.5% | 0.26% | +0.10 |
| FLMX Franklin Ftse Mexico ETF | New | 0.08% | +0.08 |
| SHOP Shopify Inc. Class A | Add +0.4% | 0.32% | +0.07 |
| DELL Dell Technologies -C | Add +40.8% | 0.27% | +0.07 |
| BSCU Invesco Bulletshares 2030 CB | Add +1197.7% | 0.07% | +0.07 |
| CSCO Cisco Systems Inc. | Add +8.4% | 0.44% | +0.07 |
| IBTF iShares Ibonds Dec 2025 Term | Add +20.4% | 0.45% | +0.07 |
| TMUS T-Mobile US Inc. | Add +9.7% | 0.51% | +0.06 |
| NLR Vaneck Urani & Nuclr ETF-Usd | New | 0.06% | +0.06 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +9.8% | 0.59% | +0.05 |
| GVLU Gotham 1000 Value ETF | New | 0.05% | +0.05 |
| WMT Walmart Inc. | Add +0.5% | 0.56% | +0.05 |
| EMR Emerson Electric Co. | Add +4.1% | 0.34% | +0.04 |
| SPHR Sphere Entertainment Co. | Add +35.1% | 0.26% | +0.04 |
| CASY Casey's General Stores Inc. | Add +6.8% | 0.45% | +0.04 |
| ANET Arista Networks Inc. | Add +28.7% | 0.13% | +0.04 |
| JGRO JPMorgan Active Growth ETF | New | 0.04% | +0.04 |
| HON Honeywell International Inc. | Add +8.7% | 0.28% | +0.04 |
| ANSS Ansys Inc. | Add +0.9% | 0.90% | +0.04 |
| BSCT Invesco Bulletshares 2029 CB | Add +51.5% | 0.11% | +0.03 |
| ADP Automatic Data Processing | Add +55.9% | 0.09% | +0.03 |
| TSLA Tesla Inc. | Add +5.7% | 0.08% | +0.03 |
| COP Conocophillips | Add +127.4% | 0.05% | +0.03 |
| XLY SS Consumer Disc Select Sect | Add +2.8% | 0.23% | +0.02 |
| PAYX Paychex Inc. | Add +92.1% | 0.05% | +0.02 |
| APD Air Products & Chemicals Inc. | New | 0.02% | +0.02 |
| BSCV Invesco Bulletshares 2031 CB | New | 0.02% | +0.02 |
| BTC Grayscale Bitcoin Mini ETF | New | 0.02% | +0.02 |
| TW Tradeweb Markets Inc. Class A | Add +1.5% | 0.49% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +10.1% | 0.25% | +0.02 |
| TJX TJX Companies Inc. | Add +2.5% | 0.72% | +0.02 |
| XLC SS Comm Select Sector SPDR | Add +5.7% | 0.21% | +0.02 |
| TXN Texas Instruments Inc. | Add +253.1% | 0.03% | +0.02 |
| WFC Wells Fargo & Co. | Add +30.1% | 0.05% | +0.02 |
| OEF iShares S&P 100 ETF | Add +4.3% | 0.33% | +0.02 |
Options Activity Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 3,500 | $2.1M |
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 | 547 | $5.0B | GOOGL, AAPL, MSFT, AVGO, JPM |
| Q1 2026 | 559 | $5.1B | GOOGL, AAPL, MSFT, JPM, NVDA |
| Q4 2025 | 564 | $5.4B | MSFT, GOOGL, AAPL, JPM, NVDA |
| Q3 2025 | 551 | $5.3B | MSFT, AAPL, GOOGL, NVDA, AVGO |
| Q2 2025 | 541 | $5.0B | MSFT, AAPL, META, JPM, GOOGL |
| Q1 2025 | 482 | $4.2B | MSFT, AAPL, BRK.B, GOOGL, JPM |
| Q4 2024 | 455 | $3.5B | AAPL, MSFT, NVDA, AMZN, JPM |
| Q3 2024 | 463 | $3.4B | AAPL, MSFT, NVDA, AMZN, BRK.B |
| Q2 2024 | 466 | $3.2B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q1 2024 | 492 | $3.2B | AAPL, MSFT, NVDA, AMZN, BRK.B |