Cladis Investment Advisory, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Cladis Investment Advisory, LLC reported 131 stock positions worth $141.0 million. Its top holding was Apple (AAPL) at 10.0% of the portfolio, followed by Nvidia (NVDA, 4.4%) and Amazon.com (AMZN, 3.4%). Compared with Q3 2024, it opened 6 new positions, sold out of 11, added to 34 and reduced 47. The biggest buy was a new position in Onterris (ONT) and the biggest sale Eli Lilly (LLY, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- BILLINGS, MT
- CIK
- 0001911520
- Portfolio Value
- $141.0M (Q4 2024)
- SEC Filing
- 0001911520-25-000001 ↗ filed Feb 14, 2025
Holdings Value
Holdings 131 stocks · $141.0M
| AAPL Apple Inc. | 9.99% | 56,259 | $14.1M | Reduce -9.2% |
| NVDA Nvidia Corp. | 4.42% | 46,435 | $6.2M | Add +0.2% |
| AMZN Amazon.com Inc. | 3.42% | 22,015 | $4.8M | Reduce -4.5% |
| MSFT Microsoft Corp. | 3.05% | 10,215 | $4.3M | Reduce -7.3% |
| LLY Eli Lilly & Co. | 2.54% | 4,644 | $3.6M | Reduce -6.1% |
| GE General Electric filed as GE AEROSPACE | 2.13% | 17,985 | $3.0M | Reduce -0.6% |
| FIBK First Interstate Bancsys-A | 2.07% | 89,757 | $2.9M | Reduce -8.8% |
| QQQ Invesco QQQ Trust Series 1 | 2.04% | 5,622 | $2.9M | Add +1.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.91% | 12,260 | $2.7M | Reduce -2.4% |
| XLK SS Technology Select Sector | 1.84% | 11,156 | $2.6M | Add +8.7% |
| SNOW Snowflake Inc. | 1.83% | 16,735 | $2.6M | Reduce -7.1% |
| VZ Verizon Communications Inc. | 1.69% | 59,477 | $2.4M | Reduce -1.9% |
| KNF Knife River Corp. | 1.61% | 22,388 | $2.3M | Reduce -2.5% |
| COST Costco Wholesale Corp. | 1.52% | 2,341 | $2.1M | Add +2.0% |
| T AT&T Inc. | 1.48% | 91,421 | $2.1M | Reduce -1.9% |
| XOM Exxon Mobil Corp. | 1.47% | 19,224 | $2.1M | Reduce -1.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.40% | 10,000 | $2.0M | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.39% | 17,614 | $2.0M | Reduce -3.4% |
| NEE Nextera Energy Inc. | 1.29% | 25,300 | $1.8M | No change |
| CAT Caterpillar Inc. | 1.29% | 5,000 | $1.8M | Reduce -5.7% |
| GEV GE Vernova Inc. | 1.25% | 5,338 | $1.8M | Add +4.5% |
| JPM JPMorgan Chase & Co. | 1.22% | 7,153 | $1.7M | No change |
| PFE Pfizer Inc. | 1.19% | 63,174 | $1.7M | Add +8.7% |
| XLF SS Financial Select Sector | 1.14% | 33,129 | $1.6M | Add +3.1% |
| BMY Bristol-Myers Squibb Co. | 1.12% | 27,807 | $1.6M | Reduce -5.8% |
| GBCI Glacier Bancorp Inc. | 1.09% | 30,498 | $1.5M | Reduce -6.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.08% | 3,351 | $1.5M | Add +0.3% |
| UPS United Parcel Service Class B | 1.07% | 12,015 | $1.5M | Add +7.9% |
| XLE SS Energy Select Sector | 1.07% | 17,590 | $1.5M | Add +23.3% |
| META Meta Platforms Inc. Class A | 1.04% | 2,513 | $1.5M | Reduce -7.4% |
| FTAI Ftai Aviation Ltd. | 1.02% | 10,000 | $1.4M | No change |
| VFH Vanguard Financials ETF | 1.01% | 12,014 | $1.4M | Reduce -9.3% |
| MDU Mdu Resources Group Inc. | 0.96% | 74,925 | $1.4M | Add +0.0% |
| GOOG Alphabet Inc. Class C | 0.94% | 6,955 | $1.3M | Reduce -1.4% |
| DELL Dell Technologies -C | 0.88% | 10,780 | $1.2M | Add +19.4% |
| ECG Everus Construction Group | 0.87% | 18,727 | $1.2M | No change |
| F Ford Motor Co. filed as FORD MTR CO | 0.86% | 122,013 | $1.2M | Add +0.6% |
| BX Blackstone Inc. | 0.86% | 7,000 | $1.2M | No change |
| HD Home Depot Inc. | 0.82% | 2,989 | $1.2M | Reduce -3.2% |
| MP MP Materials Corp. | 0.82% | 74,540 | $1.2M | Reduce -9.2% |
| XLC SS Comm Select Sector SPDR | 0.80% | 11,715 | $1.1M | No change |
| GEHC GE Healthcare Technology | 0.80% | 14,406 | $1.1M | Reduce -2.8% |
| WMT Walmart Inc. | 0.78% | 12,119 | $1.1M | Reduce -9.7% |
| UNH Unitedhealth Group Inc. | 0.75% | 2,101 | $1.1M | Reduce -4.5% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.75% | 13,917 | $1.1M | Add +1.5% |
| HON Honeywell International Inc. | 0.72% | 4,508 | $1.0M | Add +2.0% |
| MRK Merck & Co. Inc. | 0.71% | 10,110 | $1.0M | Reduce -12.3% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.71% | 54,150 | $1.0M | New |
| XLV SS Health Care Select Sector | 0.70% | 7,195 | $990K | Add +26.0% |
| CPK Chesapeake Utilities Corp. | 0.69% | 8,000 | $971K | No change |
| WFC Wells Fargo & Co. | 0.68% | 13,725 | $964K | Reduce -0.7% |
| AMD Advanced Micro Devices | 0.62% | 7,260 | $877K | Reduce -12.0% |
| KHC The Kraft Heinz Co. | 0.62% | 28,370 | $871K | Reduce -24.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.61% | 1,474 | $864K | No change |
| NKE Nike Inc. Class B | 0.60% | 11,192 | $847K | Add +25.4% |
| FDX FedEx Corp. | 0.60% | 3,000 | $844K | No change |
| PG The Procter & Gamble Co. | 0.57% | 4,807 | $806K | Add +5.2% |
| PEP Pepsico Inc. | 0.57% | 5,280 | $803K | Add +5.6% |
| PSX Phillips 66 | 0.55% | 6,837 | $779K | Add +0.0% |
| TXN Texas Instruments Inc. | 0.53% | 4,000 | $750K | No change |
| CLF Cleveland-Cliffs Inc. | 0.53% | 79,700 | $749K | Add +11.9% |
| BA The Boeing Co. | 0.51% | 4,040 | $715K | Add +49.6% |
| PANW Palo Alto Networks Inc. | 0.49% | 3,760 | $684K | Reduce -6.7% |
| IBB iShares Biotechnology ETF | 0.48% | 5,140 | $680K | Add +19.5% |
| GS Goldman Sachs Group Inc. | 0.47% | 1,155 | $661K | Reduce -11.5% |
| MCD McDonald's Corp. | 0.47% | 2,263 | $656K | Add +13.7% |
| DFAS Dimensional US Small Cap ETF | 0.43% | 9,358 | $609K | Reduce -11.4% |
| KO The Coca-Cola Co. | 0.43% | 9,714 | $605K | Reduce -12.6% |
| NFLX Netflix Inc. | 0.43% | 675 | $602K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.42% | 13,574 | $597K | Reduce -0.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.40% | 1,658 | $567K | Add +0.3% |
| JNJ Johnson & Johnson | 0.39% | 3,798 | $549K | Reduce -12.8% |
| CVX Chevron Corp. | 0.38% | 3,725 | $540K | Reduce -6.0% |
| COP Conocophillips | 0.38% | 5,435 | $539K | Add +4.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.38% | 1,310 | $538K | Reduce -0.4% |
| MO Altria Group Inc. | 0.38% | 10,214 | $534K | No change |
| NOW ServiceNow Inc. | 0.38% | 500 | $530K | No change |
| GIS General Mills Inc. | 0.37% | 8,273 | $528K | No change |
| INTC Intel Corp. | 0.37% | 25,955 | $520K | Add +7.9% |
| TGT Target Corp. | 0.36% | 3,743 | $506K | Reduce -5.7% |
| VNQ Vanguard Real Estate ETF | 0.35% | 5,509 | $491K | New |
| DFUS Dimensional US Eq MKT ETF | 0.34% | 7,440 | $474K | Reduce -16.2% |
| WTW Willis Towers Watson PLC | 0.34% | 1,510 | $473K | No change |
| SO The Southern Co. | 0.30% | 5,160 | $425K | No change |
| C Citigroup Inc. | 0.30% | 6,011 | $423K | Reduce -7.7% |
| VLO Valero Energy Corp. | 0.30% | 3,450 | $423K | No change |
| CALM Cal-Maine Foods Inc. | 0.29% | 4,000 | $412K | New |
| XLI SS Industrial Select Sector | 0.28% | 3,011 | $397K | Add +88.2% |
| NEM Newmont Corp. | 0.27% | 10,100 | $376K | No change |
| MPC Marathon Petroleum Corp. | 0.26% | 2,674 | $373K | No change |
| DUK Duke Energy Corp. | 0.25% | 3,288 | $354K | No change |
| XOP SS SPDR S&P Og Exp & Prod | 0.25% | 2,662 | $352K | No change |
| CMI Cummins Inc. | 0.25% | 1,000 | $349K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.24% | 2,000 | $339K | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.23% | 1,220 | $322K | Add +6.1% |
| CSCO Cisco Systems Inc. | 0.22% | 5,226 | $309K | Reduce -23.8% |
| TWLO Twilio Inc. Class A | 0.22% | 2,850 | $308K | New |
| MMM 3M Co. | 0.21% | 2,299 | $297K | Add +7.0% |
| CMCSA Comcast Corp. Class A | 0.21% | 7,850 | $295K | No change |
| AEP American Electric Power | 0.21% | 3,158 | $291K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| LLY Eli Lilly & Co. | Reduce -6.1% | 2.54% | −0.49 |
| CVS CVS Health Corp. | Reduce -67.4% | 0.15% | −0.47 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −0.38 |
| BABA Alibaba Group Holding-SP ADR | Reduce -60.8% | 0.15% | −0.32 |
| AMD Advanced Micro Devices | Reduce -12.0% | 0.62% | −0.32 |
| DE Deere & Co. | Reduce -68.5% | 0.15% | −0.31 |
| KHC The Kraft Heinz Co. | Reduce -24.2% | 0.62% | −0.29 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.27 |
| GE General Electric | Reduce -0.6% | 2.13% | −0.24 |
| MSFT Microsoft Corp. | Reduce -7.3% | 3.05% | −0.23 |
| DOW Dow Inc. | Sold out | 0.00% | −0.23 |
| VZ Verizon Communications Inc. | Reduce -1.9% | 1.69% | −0.20 |
| MRK Merck & Co. Inc. | Reduce -12.3% | 0.71% | −0.19 |
| SPG Simon Property Group Inc. | Sold out | 0.00% | −0.19 |
| ARM Arm Holdings PLC-ADR | Reduce -45.2% | 0.17% | −0.19 |
| MP MP Materials Corp. | Reduce -9.2% | 0.82% | −0.18 |
| GSK GSK PLC-Spon ADR | Sold out | 0.00% | −0.17 |
| GEHC GE Healthcare Technology | Reduce -2.8% | 0.80% | −0.17 |
| VVV Valvoline Inc. | Sold out | 0.00% | −0.16 |
| UL Unilever PLC | Sold out | 0.00% | −0.16 |
| DFAT Dimensional US Target Value | Sold out | 0.00% | −0.16 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.16 |
| CAT Caterpillar Inc. | Reduce -5.7% | 1.29% | −0.15 |
| IYH iShares U.S. Healthcare ETF | Sold out | 0.00% | −0.14 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.14 |
| UNH Unitedhealth Group Inc. | Reduce -4.5% | 0.75% | −0.14 |
| KO The Coca-Cola Co. | Reduce -12.6% | 0.43% | −0.12 |
| XOM Exxon Mobil Corp. | Reduce -1.8% | 1.47% | −0.12 |
| JNJ Johnson & Johnson | Reduce -12.8% | 0.39% | −0.10 |
| TGT Target Corp. | Reduce -5.7% | 0.36% | −0.07 |
| ABBV Abbvie Inc. | Reduce -15.1% | 0.20% | −0.05 |
| DFUS Dimensional US Eq MKT ETF | Reduce -16.2% | 0.34% | −0.05 |
| DFAS Dimensional US Small Cap ETF | Reduce -11.4% | 0.43% | −0.04 |
| HD Home Depot Inc. | Reduce -3.2% | 0.82% | −0.04 |
| META Meta Platforms Inc. Class A | Reduce -7.4% | 1.04% | −0.03 |
| CSCO Cisco Systems Inc. | Reduce -23.8% | 0.22% | −0.03 |
| FIBK First Interstate Bancsys-A | Reduce -8.8% | 2.07% | −0.03 |
| CVX Chevron Corp. | Reduce -6.0% | 0.38% | −0.02 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -8.3% | 0.17% | −0.02 |
| AAPL Apple Inc. | Reduce -9.2% | 9.99% | −0.01 |
| IBM Intl Business Machines Corp. | Reduce -2.4% | 1.91% | −0.01 |
| ARKK ARK Innovation ETF | Reduce -24.5% | 0.15% | −0.01 |
| VFH Vanguard Financials ETF | Reduce -9.3% | 1.01% | −0.00 |
| PANW Palo Alto Networks Inc. | Reduce -6.7% | 0.49% | +0.01 |
| C Citigroup Inc. | Reduce -7.7% | 0.30% | +0.02 |
| GS Goldman Sachs Group Inc. | Reduce -11.5% | 0.47% | +0.02 |
| WMT Walmart Inc. | Reduce -9.7% | 0.78% | +0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.4% | 0.38% | +0.03 |
| BAC Bank of America Corp. | Reduce -0.4% | 0.42% | +0.05 |
| GBCI Glacier Bancorp Inc. | Reduce -6.7% | 1.09% | +0.05 |
Portfolio Buys Q3 2024 → Q4 2024
| ONT Onterris Inc. | New | 0.71% | +0.71 |
| NVDA Nvidia Corp. | Add +0.2% | 4.42% | +0.52 |
| VNQ Vanguard Real Estate ETF | New | 0.35% | +0.35 |
| GEV GE Vernova Inc. | Add +4.5% | 1.25% | +0.34 |
| CALM Cal-Maine Foods Inc. | New | 0.29% | +0.29 |
| XLK SS Technology Select Sector | Add +8.7% | 1.84% | +0.23 |
| BA The Boeing Co. | Add +49.6% | 0.51% | +0.22 |
| TWLO Twilio Inc. Class A | New | 0.22% | +0.22 |
| XLE SS Energy Select Sector | Add +23.3% | 1.07% | +0.20 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.8% | 2.04% | +0.17 |
| SCHG Schwab US Large-Cap Growth | New | 0.15% | +0.15 |
| DELL Dell Technologies -C | Add +19.4% | 0.88% | +0.14 |
| XLI SS Industrial Select Sector | Add +88.2% | 0.28% | +0.13 |
| XLF SS Financial Select Sector | Add +3.1% | 1.14% | +0.13 |
| COST Costco Wholesale Corp. | Add +2.0% | 1.52% | +0.11 |
| XLV SS Health Care Select Sector | Add +26.0% | 0.70% | +0.09 |
| HON Honeywell International Inc. | Add +2.0% | 0.72% | +0.09 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +0.3% | 0.40% | +0.08 |
| NKE Nike Inc. Class B | Add +25.4% | 0.60% | +0.05 |
| WIT Wipro Ltd.-ADR | New | 0.05% | +0.05 |
| IBB iShares Biotechnology ETF | Add +19.5% | 0.48% | +0.05 |
| MCD McDonald's Corp. | Add +13.7% | 0.47% | +0.05 |
| PG The Procter & Gamble Co. | Add +5.2% | 0.57% | +0.02 |
| PFE Pfizer Inc. | Add +8.7% | 1.19% | +0.02 |
| UPS United Parcel Service Class B | Add +7.9% | 1.07% | +0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +6.1% | 0.23% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.3% | 1.08% | +0.01 |
| MMM 3M Co. | Add +7.0% | 0.21% | +0.01 |
| COP Conocophillips | Add +4.5% | 0.38% | +0.00 |
| AXDXQ Accelerate Diagnostics Inc. | Add +7.6% | 0.04% | −0.01 |
| PEP Pepsico Inc. | Add +5.6% | 0.57% | −0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +1.5% | 0.75% | −0.02 |
| INTC Intel Corp. | Add +7.9% | 0.37% | −0.02 |
| STZ Constellation Brands Inc. Class A | Add +1.0% | 0.18% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Add +1.6% | 0.15% | −0.03 |
| F Ford Motor Co. | Add +0.6% | 0.86% | −0.03 |
| DADA Dada Nexus Ltd.-ADR | Add +11.7% | 0.14% | −0.05 |
| PSX Phillips 66 | Add +0.0% | 0.55% | −0.07 |
| CLF Cleveland-Cliffs Inc. | Add +11.9% | 0.53% | −0.10 |
| MDU Mdu Resources Group Inc. | Add +0.0% | 0.96% | −0.47 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 173 | $214.0M | AAPL, NVDA, GEV, GE, AMZN |
| Q1 2026 | 159 | $181.7M | AAPL, NVDA, AMZN, GE, MSFT |
| Q4 2025 | 154 | $182.7M | AAPL, NVDA, MSFT, LLY, AMZN |
| Q3 2025 | 145 | $174.7M | AAPL, NVDA, MSFT, GE, AMZN |
| Q2 2025 | 147 | $159.6M | AAPL, NVDA, MSFT, AMZN, GE |
| Q1 2025 | 137 | $138.2M | AAPL, NVDA, AMZN, MSFT, LLY |
| Q4 2024 | 131 | $141.0M | AAPL, NVDA, AMZN, MSFT, LLY |
| Q3 2024 | 135 | $144.3M | AAPL, NVDA, MSFT, LLY, AMZN |
| Q2 2024Amended | 136 | $137.9M | AAPL, NVDA, LLY, MSFT, AMZN |
| Q1 2024Amended | 138 | $136.3M | AAPL, MSFT, LLY, AMZN, NVDA |