Cladis Investment Advisory, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed October 9, 2024), Cladis Investment Advisory, LLC reported 136 stock positions worth $137.9 million. Its top holding was Apple (AAPL) at 10.0% of the portfolio, followed by Nvidia (NVDA, 4.1%) and Eli Lilly (LLY, 3.8%). Compared with Q1 2024, it opened 8 new positions, sold out of 11, added to 37 and reduced 37. The biggest buy was Nvidia (NVDA, shares +0%) and the biggest sale General Electric (GE, shares −6%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001911520
Portfolio Value
$137.9M (Q2 2024)
SEC Filing
0001911520-24-000015 ↗ filed Oct 9, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $136.3M Q1 2024 Q2 2024: $137.9M $137.9M Q2 2024 Q3 2024: $144.3M Q3 2024 Q4 2024: $141.0M Q4 2024 Q1 2025: $138.2M Q1 2025 Q2 2025: $159.6M Q2 2025 Q3 2025: $174.7M Q3 2025 Q4 2025: $182.7M Q4 2025 Q1 2026: $181.7M Q1 2026 Q2 2026: $214.0M Q2 2026

Holdings 136 stocks · $137.9M
AAPL Apple Inc. 10.03% 65,659 $13.8M Reduce -0.3%
NVDA Nvidia Corp. 4.11% 45,890 $5.7M Add +0.2%
LLY Eli Lilly & Co. 3.84% 5,844 $5.3M No change
MSFT Microsoft Corp. 3.53% 10,904 $4.9M Reduce -1.8%
AMZN Amazon.com Inc. 3.23% 23,045 $4.5M Reduce -7.0%
GE General Electric filed as GE AEROSPACE 2.34% 20,282 $3.2M Reduce -6.0%
FIBK First Interstate Bancsys-A 2.02% 100,408 $2.8M Reduce -2.6%
QQQ Invesco QQQ Trust Series 1 1.92% 5,531 $2.7M Add +0.5%
VZ Verizon Communications Inc. 1.85% 61,971 $2.6M Reduce -6.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.73% 13,810 $2.4M Reduce -0.3%
XOM Exxon Mobil Corp. 1.66% 19,829 $2.3M Add +18.5%
XLK SS Technology Select Sector 1.64% 10,016 $2.3M No change
COST Costco Wholesale Corp. 1.42% 2,306 $2.0M Add +2.2%
MDU Mdu Resources Group Inc. 1.41% 77,223 $1.9M Reduce -2.3%
META Meta Platforms Inc. Class A 1.40% 3,815 $1.9M No change
T AT&T Inc. 1.38% 99,687 $1.9M Reduce -1.9%
NEE Nextera Energy Inc. 1.30% 25,300 $1.8M No change
KNF Knife River Corp. 1.29% 25,375 $1.8M Add +6.3%
CAT Caterpillar Inc. 1.28% 5,314 $1.8M No change
TSM Taiwan Semiconductor-SP ADR 1.26% 10,000 $1.7M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.22% 16,889 $1.7M Add +1.4%
PFE Pfizer Inc. 1.16% 56,910 $1.6M Add +2.3%
F Ford Motor Co. filed as FORD MTR CO DEL 1.11% 104,402 $1.5M Reduce -18.2%
SNOW Snowflake Inc. 1.07% 10,930 $1.5M Add +61.9%
JPM JPMorgan Chase & Co. 1.05% 7,189 $1.5M No change
BRK.B Berkshire Hathaway Inc. Class B 1.02% 3,458 $1.4M Reduce -2.8%
MRK Merck & Co. Inc. 0.97% 10,777 $1.3M Add +0.0%
VFH Vanguard Financials ETF 0.97% 13,339 $1.3M Reduce -3.6%
XLF SS Financial Select Sector 0.94% 31,557 $1.3M Add +2.1%
UNH Unitedhealth Group Inc. 0.93% 2,506 $1.3M Reduce -0.3%
AMD Advanced Micro Devices 0.92% 7,846 $1.3M Add +2.6%
GOOG Alphabet Inc. Class C 0.91% 6,805 $1.2M Reduce -8.1%
XLE SS Energy Select Sector 0.90% 13,610 $1.2M Add +0.5%
BMY Bristol-Myers Squibb Co. 0.89% 29,536 $1.2M Add +1.3%
KHC The Kraft Heinz Co. 0.85% 36,179 $1.2M Reduce -0.7%
GEHC GE Healthcare Technology 0.83% 14,638 $1.1M Add +1.6%
GBCI Glacier Bancorp Inc. 0.80% 32,198 $1.1M Reduce -2.4%
CVS CVS Health Corp. 0.80% 18,592 $1.1M Reduce -4.1%
HD Home Depot Inc. 0.76% 3,039 $1.0M Add +2.7%
FTAI Ftai Aviation Ltd. 0.75% 10,000 $1.0M No change
XLC SS Comm Select Sector SPDR 0.73% 11,715 $1.0M Reduce -3.3%
MP MP Materials Corp. 0.73% 78,540 $1000K Add +8.0%
UPS United Parcel Service Class B 0.70% 7,056 $966K Add +2.4%
PSX Phillips 66 0.70% 6,836 $965K Reduce -0.7%
HON Honeywell International Inc. 0.68% 4,420 $944K No change
CLF Cleveland-Cliffs Inc. 0.68% 61,150 $941K Reduce -2.1%
WMT Walmart Inc. 0.67% 13,643 $924K Add +0.0%
GEV GE Vernova Inc. 0.67% 5,352 $918K Reduce -0.8%
FDX FedEx Corp. 0.65% 3,000 $900K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.63% 12,785 $871K Add +1.6%
BX Blackstone Inc. 0.63% 7,000 $867K No change
CPK Chesapeake Utilities Corp. 0.62% 8,000 $850K No change
PEP Pepsico Inc. 0.60% 5,000 $825K No change
WFC Wells Fargo & Co. 0.60% 13,824 $821K Add +0.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.58% 1,474 $802K No change
TXN Texas Instruments Inc. 0.56% 4,000 $778K No change
PG The Procter & Gamble Co. 0.55% 4,571 $754K Reduce -4.2%
PANW Palo Alto Networks Inc. 0.52% 2,115 $717K Add +21.2%
ARKK ARK Innovation ETF 0.51% 16,151 $710K Reduce -0.8%
KO The Coca-Cola Co. 0.51% 11,111 $707K Add +0.0%
XLV SS Health Care Select Sector 0.51% 4,810 $701K Add +4.3%
PYPL PayPal Holdings Inc. 0.50% 11,843 $687K Add +1.4%
BABA Alibaba Group Holding-SP ADR 0.47% 8,925 $643K Reduce -14.0%
DFAS Dimensional US Small Cap ETF 0.46% 10,562 $635K Reduce -0.7%
CVX Chevron Corp. 0.45% 3,965 $620K Reduce -1.6%
JNJ Johnson & Johnson 0.45% 4,229 $618K Add +1.6%
TGT Target Corp. 0.44% 4,115 $609K Add +0.0%
NKE Nike Inc. Class B 0.43% 7,932 $598K Add +53.5%
ARM Arm Holdings PLC-ADR 0.43% 3,650 $597K No change
COP Conocophillips 0.43% 5,199 $595K Reduce -1.7%
GS Goldman Sachs Group Inc. 0.43% 1,305 $590K No change
SMH Vaneck Semiconductor ETF 0.42% 2,214 $577K No change
DE Deere & Co. 0.42% 1,539 $575K Add +1.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.40% 14,022 $558K Reduce -15.6%
VLO Valero Energy Corp. 0.39% 3,450 $541K Reduce -5.2%
GIS General Mills Inc. 0.38% 8,273 $523K No change
DFUS Dimensional US Eq MKT ETF 0.38% 8,875 $522K No change
MCD McDonald's Corp. 0.37% 1,990 $507K Add +1.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.36% 3,113 $499K Reduce -0.5%
VUG Vanguard Mrngstar GR ETF-Sui 0.36% 1,315 $492K No change
BA The Boeing Co. 0.36% 2,700 $491K Add +3.5%
INTC Intel Corp. 0.35% 15,805 $489K Add +18.8%
MO Altria Group Inc. 0.34% 10,214 $465K Reduce -1.1%
MPC Marathon Petroleum Corp. 0.34% 2,674 $464K No change
NFLX Netflix Inc. 0.33% 675 $456K No change
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.31% 9,500 $423K No change
NEM Newmont Corp. 0.31% 10,100 $423K No change
IBB iShares Biotechnology ETF 0.30% 3,035 $417K Add +3.9%
C Citigroup Inc. 0.30% 6,511 $413K No change
CRWD CrowdStrike Holdings Inc. Class A 0.29% 1,058 $405K No change
SO The Southern Co. 0.29% 5,160 $400K No change
MMM 3M Co. 0.29% 3,899 $398K Reduce -23.6%
NOW ServiceNow Inc. 0.29% 505 $397K No change
WTW Willis Towers Watson PLC 0.29% 1,510 $396K No change
XOP SS SPDR S&P Og Exp & Prod 0.27% 2,587 $376K Add +4.6%
UL Unilever PLC 0.26% 6,500 $357K No change
DD Dupont DE Nemours Inc. 0.26% 4,416 $355K Reduce -0.7%
GM General Motors Co. 0.25% 7,498 $348K No change
DUK Duke Energy Corp. 0.24% 3,288 $330K No change
CSCO Cisco Systems Inc. 0.24% 6,854 $326K Add +3.0%
STZ Constellation Brands Inc. Class A 0.24% 1,260 $324K Reduce -17.4%
DOW Dow Inc. 0.23% 6,032 $320K No change
ABBV Abbvie Inc. 0.23% 1,835 $315K No change
CMCSA Comcast Corp. Class A 0.22% 7,850 $307K No change
VNQ Vanguard Real Estate ETF 0.20% 3,352 $281K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.20% 1,158 $280K No change
SBUX Starbucks Corp. 0.20% 3,580 $279K Add +7.5%
AEP American Electric Power 0.20% 3,158 $277K No change
CMI Cummins Inc. 0.20% 1,000 $277K No change
MDLZ Mondelez International Inc. Class A 0.18% 3,884 $254K No change
WCN Waste Connections Inc. 0.18% 1,444 $253K No change
LEVI Levi Strauss & Co. Class A 0.18% 13,000 $251K New
CRM Salesforce Inc. 0.18% 963 $248K Add +5.5%
AMGN Amgen Inc. 0.18% 790 $247K Reduce -76.8%
MET Metlife Inc. 0.18% 3,500 $246K No change
CALM Cal-Maine Foods Inc. 0.18% 4,000 $244K No change
SPG Simon Property Group Inc. 0.18% 1,600 $243K No change
VVV Valvoline Inc. 0.17% 5,490 $237K No change
GSK GSK PLC-Spon ADR 0.17% 6,026 $232K No change
PM Philip Morris International 0.16% 2,209 $224K No change
TRMB Trimble Inc. 0.16% 4,000 $224K No change
IWM iShares Russell 2000 ETF 0.16% 1,067 $216K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.16% 865 $216K No change
MU Micron Technology Inc. 0.15% 1,625 $214K Reduce -15.6%
SWKS Skyworks Solutions Inc. 0.15% 2,000 $213K Reduce -2.3%
DFAT Dimensional US Target Value 0.15% 4,079 $212K No change
RVTY Revvity Inc. 0.15% 2,000 $210K No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.15% 4,370 $206K No change
DADA Dada Nexus Ltd.-ADR 0.14% 158,200 $199K Add +10.5%
CPRX Catalyst Pharmaceuticals Inc. 0.11% 10,000 $155K New
PGX Invesco Preferred ETF 0.09% 10,177 $118K New
SILV Silvercrest Metals Inc. 0.06% 10,000 $82K New
NGD New Gold Inc. 0.04% 25,000 $49K New
AXDXQ Accelerate Diagnostics Inc. 0.03% 39,700 $46K New
SBSW Sibanye-Stillwater Ltd.-ADR 0.03% 10,000 $44K New
ASM Avino Silver & Gold Mines 0.01% 10,000 $9K New

Portfolio Sells Q1 2024 → Q2 2024
GE General Electric Reduce -6.0% 2.34% −0.44
CLF Cleveland-Cliffs Inc. Reduce -2.1% 0.68% −0.36
CVS CVS Health Corp. Reduce -4.1% 0.80% −0.34
IP International Paper Co. Sold out 0.00% −0.33
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.28
IBM Intl Business Machines Corp. Reduce -0.3% 1.73% −0.21
ANSS Ansys Inc. Sold out 0.00% −0.20
VZ Verizon Communications Inc. Reduce -6.0% 1.85% −0.18
GBCI Glacier Bancorp Inc. Reduce -2.4% 0.80% −0.18
PARAA Paramount Global Class B Sold out 0.00% −0.17
HXL Hexcel Corp. Sold out 0.00% −0.16
V Visa Inc. Class A Sold out 0.00% −0.15
DAL Delta Air Lines Inc. Sold out 0.00% −0.15
OXY Occidental Petroleum Corp. Sold out 0.00% −0.15
AIVL Wisdomtree US AI Enhanced Va Sold out 0.00% −0.15
XLI SS Industrial Select Sector Sold out 0.00% −0.15
EMN Eastman Chemical Co. Sold out 0.00% −0.15
KHC The Kraft Heinz Co. Reduce -0.7% 0.85% −0.14
F Ford Motor Co. Reduce -18.2% 1.11% −0.13
PSX Phillips 66 Reduce -0.7% 0.70% −0.12
MMM 3M Co. Reduce -23.6% 0.29% −0.11
BABA Alibaba Group Holding-SP ADR Reduce -14.0% 0.47% −0.08
ARKK ARK Innovation ETF Reduce -0.8% 0.51% −0.08
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.8% 1.02% −0.08
VFH Vanguard Financials ETF Reduce -3.6% 0.97% −0.07
STZ Constellation Brands Inc. Class A Reduce -17.4% 0.24% −0.07
VLO Valero Energy Corp. Reduce -5.2% 0.39% −0.06
COP Conocophillips Reduce -1.7% 0.43% −0.06
BAC Bank of America Corp. Reduce -15.6% 0.40% −0.06
MDU Mdu Resources Group Inc. Reduce -2.3% 1.41% −0.06
AMZN Amazon.com Inc. Reduce -7.0% 3.23% −0.05
FIBK First Interstate Bancsys-A Reduce -2.6% 2.02% −0.04
DFAS Dimensional US Small Cap ETF Reduce -0.7% 0.46% −0.03
PG The Procter & Gamble Co. Reduce -4.2% 0.55% −0.02
CVX Chevron Corp. Reduce -1.6% 0.45% −0.02
GEV GE Vernova Inc. Reduce -0.8% 0.67% −0.01
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.5% 0.36% −0.01
MU Micron Technology Inc. Reduce -15.6% 0.15% −0.01
SWKS Skyworks Solutions Inc. Reduce -2.3% 0.15% −0.01
XLC SS Comm Select Sector SPDR Reduce -3.3% 0.73% +0.00
MO Altria Group Inc. Reduce -1.1% 0.34% +0.01
DD Dupont DE Nemours Inc. Reduce -0.7% 0.26% +0.01
UNH Unitedhealth Group Inc. Reduce -0.3% 0.93% +0.01
AMGN Amgen Inc. Reduce -76.8% 0.18% +0.01
T AT&T Inc. Reduce -1.9% 1.38% +0.07
GOOG Alphabet Inc. Class C Reduce -8.1% 0.91% +0.08
MSFT Microsoft Corp. Reduce -1.8% 3.53% +0.11
AAPL Apple Inc. Reduce -0.3% 10.03% +1.74

Portfolio Buys Q1 2024 → Q2 2024
NVDA Nvidia Corp. Add +0.2% 4.11% +1.08
SNOW Snowflake Inc. Add +61.9% 1.07% +0.27
XOM Exxon Mobil Corp. Add +18.5% 1.66% +0.23
COST Costco Wholesale Corp. Add +2.2% 1.42% +0.21
LEVI Levi Strauss & Co. Class A New 0.18% +0.18
PANW Palo Alto Networks Inc. Add +21.2% 0.52% +0.16
QQQ Invesco QQQ Trust Series 1 Add +0.5% 1.92% +0.13
CPRX Catalyst Pharmaceuticals Inc. New 0.11% +0.11
PGX Invesco Preferred ETF New 0.09% +0.09
NKE Nike Inc. Class B Add +53.5% 0.43% +0.08
WMT Walmart Inc. Add +0.0% 0.67% +0.07
SILV Silvercrest Metals Inc. New 0.06% +0.06
NGD New Gold Inc. New 0.04% +0.04
AXDXQ Accelerate Diagnostics Inc. New 0.03% +0.03
SBSW Sibanye-Stillwater Ltd.-ADR New 0.03% +0.03
XLU St Sr Utl SL SE SPDR ETF-Usd Add +1.6% 0.63% +0.03
PFE Pfizer Inc. Add +2.3% 1.16% +0.02
KO The Coca-Cola Co. Add +0.0% 0.51% +0.01
XLV SS Health Care Select Sector Add +4.3% 0.51% +0.01
IBB iShares Biotechnology ETF Add +3.9% 0.30% +0.01
WFC Wells Fargo & Co. Add +0.0% 0.60% +0.01
ASM Avino Silver & Gold Mines New 0.01% +0.01
CSCO Cisco Systems Inc. Add +3.0% 0.24% −0.01
XOP SS SPDR S&P Og Exp & Prod Add +4.6% 0.27% −0.01
BA The Boeing Co. Add +3.5% 0.36% −0.01
XLF SS Financial Select Sector Add +2.1% 0.94% −0.01
SBUX Starbucks Corp. Add +7.5% 0.20% −0.02
CRM Salesforce Inc. Add +5.5% 0.18% −0.02
JNJ Johnson & Johnson Add +1.6% 0.45% −0.04
MP MP Materials Corp. Add +8.0% 0.73% −0.04
XLE SS Energy Select Sector Add +0.5% 0.90% −0.04
MCD McDonald's Corp. Add +1.3% 0.37% −0.04
DE Deere & Co. Add +1.3% 0.42% −0.04
UPS United Parcel Service Class B Add +2.4% 0.70% −0.05
DADA Dada Nexus Ltd.-ADR Add +10.5% 0.14% −0.07
HD Home Depot Inc. Add +2.7% 0.76% −0.07
PYPL PayPal Holdings Inc. Add +1.4% 0.50% −0.08
MRK Merck & Co. Inc. Add +0.0% 0.97% −0.08
INTC Intel Corp. Add +18.8% 0.35% −0.08
AMD Advanced Micro Devices Add +2.6% 0.92% −0.09
TGT Target Corp. Add +0.0% 0.44% −0.09
KNF Knife River Corp. Add +6.3% 1.29% −0.13
GEHC GE Healthcare Technology Add +1.6% 0.83% −0.13
BMY Bristol-Myers Squibb Co. Add +1.3% 0.89% −0.27
DIS The Walt Disney Co. Add +1.4% 1.22% −0.28

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 173$214.0MAAPL, NVDA, GEV, GE, AMZN
Q1 2026 159$181.7MAAPL, NVDA, AMZN, GE, MSFT
Q4 2025 154$182.7MAAPL, NVDA, MSFT, LLY, AMZN
Q3 2025 145$174.7MAAPL, NVDA, MSFT, GE, AMZN
Q2 2025 147$159.6MAAPL, NVDA, MSFT, AMZN, GE
Q1 2025 137$138.2MAAPL, NVDA, AMZN, MSFT, LLY
Q4 2024 131$141.0MAAPL, NVDA, AMZN, MSFT, LLY
Q3 2024 135$144.3MAAPL, NVDA, MSFT, LLY, AMZN
Q2 2024Amended 136$137.9MAAPL, NVDA, LLY, MSFT, AMZN
Q1 2024Amended 138$136.3MAAPL, MSFT, LLY, AMZN, NVDA