Cladis Investment Advisory, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Cladis Investment Advisory, LLC reported 137 stock positions worth $138.2 million. Its top holding was Apple (AAPL) at 9.0% of the portfolio, followed by Nvidia (NVDA, 3.8%) and Amazon.com (AMZN, 3.0%). Compared with Q4 2024, it opened 12 new positions, sold out of 6, added to 35 and reduced 35. The biggest buy was a new position in Vertiv Class A (VRT) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001911520
Portfolio Value
$138.2M (Q1 2025)
SEC Filing
0001911520-25-000003 ↗ filed May 13, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $136.3M Q1 2024 Q2 2024: $137.9M Q2 2024 Q3 2024: $144.3M Q3 2024 Q4 2024: $141.0M Q4 2024 Q1 2025: $138.2M $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 137 stocks · $138.2M
AAPL Apple Inc. 8.98% 55,859 $12.4M Reduce -0.7%
NVDA Nvidia Corp. 3.77% 48,035 $5.2M Add +3.5%
AMZN Amazon.com Inc. 3.03% 21,995 $4.2M Reduce -0.1%
MSFT Microsoft Corp. 2.96% 10,887 $4.1M Add +6.6%
LLY Eli Lilly & Co. 2.78% 4,644 $3.8M No change
GE General Electric filed as GE AEROSPACE 2.53% 17,499 $3.5M Reduce -2.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.21% 12,264 $3.0M Add +0.0%
VZ Verizon Communications Inc. 1.95% 59,395 $2.7M Reduce -0.1%
QQQ Invesco QQQ Trust Series 1 1.89% 5,561 $2.6M Reduce -1.1%
FIBK First Interstate Bancsys-A 1.85% 89,261 $2.6M Reduce -0.6%
T AT&T Inc. 1.72% 83,810 $2.4M Reduce -8.3%
XLK SS Technology Select Sector 1.70% 11,392 $2.4M Add +2.1%
SNOW Snowflake Inc. 1.68% 15,885 $2.3M Reduce -5.1%
XOM Exxon Mobil Corp. 1.66% 19,302 $2.3M Add +0.4%
COST Costco Wholesale Corp. 1.65% 2,416 $2.3M Add +3.2%
KNF Knife River Corp. 1.42% 21,813 $2.0M Reduce -2.6%
NEE Nextera Energy Inc. 1.31% 25,583 $1.8M Add +1.1%
BRK.B Berkshire Hathaway Inc. Class B 1.30% 3,371 $1.8M Add +0.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.28% 17,960 $1.8M Add +2.0%
JPM JPMorgan Chase & Co. 1.27% 7,153 $1.8M No change
UPS United Parcel Service Class B 1.25% 15,716 $1.7M Add +30.8%
BMY Bristol-Myers Squibb Co. 1.23% 27,807 $1.7M No change
XLF SS Financial Select Sector 1.23% 34,020 $1.7M Add +2.7%
TSM Taiwan Semiconductor-SP ADR 1.20% 10,000 $1.7M No change
CAT Caterpillar Inc. 1.19% 5,000 $1.6M No change
XLE SS Energy Select Sector 1.19% 17,565 $1.6M Reduce -0.1%
GEV GE Vernova Inc. 1.12% 5,065 $1.5M Reduce -5.1%
PFE Pfizer Inc. 1.09% 59,627 $1.5M Reduce -5.6%
MP MP Materials Corp. 1.06% 59,940 $1.5M Reduce -19.6%
META Meta Platforms Inc. Class A 1.05% 2,523 $1.5M Add +0.4%
VFH Vanguard Financials ETF 1.03% 11,889 $1.4M Reduce -1.0%
GBCI Glacier Bancorp Inc. 0.97% 30,398 $1.3M Reduce -0.3%
F Ford Motor Co. filed as FORD MTR CO 0.95% 131,125 $1.3M Add +7.5%
DELL Dell Technologies -C 0.93% 14,110 $1.3M Add +30.9%
MDU Mdu Resources Group Inc. 0.90% 73,364 $1.2M Reduce -2.1%
GEHC GE Healthcare Technology 0.84% 14,322 $1.2M Reduce -0.6%
XLC SS Comm Select Sector SPDR 0.83% 11,875 $1.1M Add +1.4%
AMD Advanced Micro Devices 0.81% 10,960 $1.1M Add +51.0%
FTAI Ftai Aviation Ltd. 0.80% 10,000 $1.1M No change
UNH Unitedhealth Group Inc. 0.80% 2,101 $1.1M No change
XLV SS Health Care Select Sector 0.79% 7,445 $1.1M Add +3.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.78% 13,618 $1.1M Reduce -2.1%
WMT Walmart Inc. 0.77% 12,044 $1.1M Reduce -0.6%
HD Home Depot Inc. 0.75% 2,815 $1.0M Reduce -5.8%
CPK Chesapeake Utilities Corp. 0.74% 8,000 $1.0M No change
WFC Wells Fargo & Co. 0.71% 13,725 $985K No change
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.70% 67,750 $966K Add +25.1%
HON Honeywell International Inc. 0.69% 4,508 $955K No change
MRK Merck & Co. Inc. 0.69% 10,610 $952K Add +5.0%
VRT Vertiv Holdings Co. Class A 0.65% 12,375 $893K New
PSX Phillips 66 0.61% 6,877 $849K Add +0.6%
CLF Cleveland-Cliffs Inc. 0.61% 103,000 $847K Add +29.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.60% 1,474 $825K No change
PG The Procter & Gamble Co. 0.58% 4,713 $803K Reduce -2.0%
PEP Pepsico Inc. 0.57% 5,292 $793K Add +0.2%
NKE Nike Inc. Class B 0.56% 12,193 $774K Add +8.9%
KHC The Kraft Heinz Co. 0.56% 25,270 $769K Reduce -10.9%
FDX FedEx Corp. 0.53% 3,000 $731K No change
IBB iShares Biotechnology ETF 0.53% 5,710 $730K Add +11.1%
TXN Texas Instruments Inc. 0.52% 4,000 $719K No change
MCD McDonald's Corp. 0.51% 2,263 $707K No change
BA The Boeing Co. 0.50% 4,040 $689K No change
KO The Coca-Cola Co. 0.50% 9,614 $689K Reduce -1.0%
ECG Everus Construction Group 0.49% 18,352 $681K Reduce -2.0%
INTC Intel Corp. 0.47% 28,555 $648K Add +10.0%
PANW Palo Alto Networks Inc. 0.46% 3,750 $640K Reduce -0.3%
CVX Chevron Corp. 0.46% 3,775 $632K Add +1.3%
GS Goldman Sachs Group Inc. 0.46% 1,155 $631K No change
NFLX Netflix Inc. 0.46% 675 $629K No change
MO Altria Group Inc. 0.44% 10,214 $613K No change
JNJ Johnson & Johnson 0.44% 3,649 $605K Reduce -3.9%
CRWD CrowdStrike Holdings Inc. Class A 0.43% 1,683 $593K Add +1.5%
COP Conocophillips 0.42% 5,515 $579K Add +1.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.41% 13,575 $566K Add +0.0%
DFAS Dimensional US Small Cap ETF 0.40% 9,158 $547K Reduce -2.1%
ARTY iShares Future AI & Tech ETF 0.37% 16,355 $514K New
WTW Willis Towers Watson PLC 0.37% 1,510 $510K No change
VNQ Vanguard Real Estate ETF 0.36% 5,511 $499K Add +0.0%
GIS General Mills Inc. 0.36% 8,273 $495K No change
NEM Newmont Corp. 0.35% 10,100 $488K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.35% 1,310 $486K No change
PM Philip Morris International 0.35% 7,209 $477K Add +226.3%
SO The Southern Co. 0.34% 5,160 $474K No change
TGT Target Corp. 0.34% 4,443 $464K Add +18.7%
VLO Valero Energy Corp. 0.32% 3,400 $449K Reduce -1.4%
C Citigroup Inc. 0.31% 6,011 $427K No change
DFUS Dimensional US Eq MKT ETF 0.31% 7,015 $424K Reduce -5.7%
DUK Duke Energy Corp. 0.29% 3,287 $401K Reduce -0.0%
XLI SS Industrial Select Sector 0.29% 3,056 $401K Add +1.5%
NOW ServiceNow Inc. 0.29% 500 $398K No change
GOOG Alphabet Inc. Class C 0.28% 2,500 $391K Reduce -64.0%
MPC Marathon Petroleum Corp. 0.28% 2,674 $390K No change
XOP SS SPDR S&P Og Exp & Prod 0.25% 2,662 $351K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.25% 2,000 $345K No change
AEP American Electric Power 0.25% 3,158 $345K No change
MMM 3M Co. 0.24% 2,299 $338K No change
BABA Alibaba Group Holding-SP ADR 0.24% 2,500 $331K No change
KRE SS SPDR S&P Regional Bank 0.24% 5,750 $327K New
ABBV Abbvie Inc. 0.24% 1,558 $326K No change
CSCO Cisco Systems Inc. 0.24% 5,285 $326K Add +1.1%
CVS CVS Health Corp. 0.23% 4,693 $318K Add +2.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.23% 1,220 $316K No change
CMI Cummins Inc. 0.23% 1,000 $313K No change
CMCSA Comcast Corp. Class A 0.21% 7,850 $290K No change
WCN Waste Connections Inc. 0.20% 1,444 $282K No change
MET Metlife Inc. 0.20% 3,500 $281K No change
BX Blackstone Inc. 0.20% 2,000 $280K Reduce -71.4%
TWLO Twilio Inc. Class A 0.20% 2,850 $279K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.19% 3,400 $268K New
TRMB Trimble Inc. 0.19% 4,000 $263K No change
CPRX Catalyst Pharmaceuticals Inc. 0.18% 10,000 $243K No change
MDLZ Mondelez International Inc. Class A 0.17% 3,523 $239K No change
DE Deere & Co. 0.17% 500 $235K No change
MA Mastercard Inc. Class A 0.17% 418 $229K Reduce -8.7%
TEM Tempus AI Inc. Class A 0.16% 4,700 $227K New
V Visa Inc. Class A 0.16% 644 $226K Reduce -13.4%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.16% 865 $222K No change
AIVL Wisdomtree US AI Enhanced Va 0.16% 2,000 $220K No change
HWM Howmet Aerospace Inc. 0.16% 1,666 $216K New
CRM Salesforce Inc. 0.16% 800 $215K No change
ARM Arm Holdings PLC-ADR 0.15% 2,000 $214K No change
IWM iShares Russell 2000 ETF 0.15% 1,067 $213K No change
CALF PCR US SM CP CSH CWS ETF-Usd 0.15% 5,500 $206K No change
IWO iShares Russell 2000 Growth 0.15% 800 $204K New
PTCT PTC Therapeutics Inc. 0.15% 4,000 $204K New
IYH iShares U.S. Healthcare ETF 0.15% 3,340 $203K New
GLD SPDR Gold Shares 0.15% 700 $202K New
DADA Dada Nexus Ltd.-ADR 0.14% 107,500 $199K Reduce -35.8%
PGX Invesco Preferred ETF 0.08% 10,177 $114K No change
CDE Coeur Mining Inc. 0.07% 16,022 $95K New
NGD New Gold Inc. 0.07% 25,000 $93K No change
WIT Wipro Ltd.-ADR 0.04% 19,680 $60K No change
WOLF Wolfspeed Inc. 0.04% 16,000 $49K New
SBSW Sibanye-Stillwater Ltd.-ADR 0.03% 10,000 $46K No change
FIP Ftai Infrastructure Inc. 0.03% 10,000 $45K No change
AXDXQ Accelerate Diagnostics Inc. 0.02% 42,700 $30K No change
ASM Avino Silver & Gold Mines 0.01% 10,000 $18K No change

Portfolio Sells Q4 2024 → Q1 2025
AAPL Apple Inc. Reduce -0.7% 8.98% −1.01
GOOG Alphabet Inc. Class C Reduce -64.0% 0.28% −0.66
BX Blackstone Inc. Reduce -71.4% 0.20% −0.65
AMZN Amazon.com Inc. Reduce -0.1% 3.03% −0.40
ECG Everus Construction Group Reduce -2.0% 0.49% −0.38
CALM Cal-Maine Foods Inc. Sold out 0.00% −0.29
FIBK First Interstate Bancsys-A Reduce -0.6% 1.85% −0.22
KNF Knife River Corp. Reduce -2.6% 1.42% −0.19
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.18
RVTY Revvity Inc. Sold out 0.00% −0.16
SNOW Snowflake Inc. Reduce -5.1% 1.68% −0.15
ARKK ARK Innovation ETF Sold out 0.00% −0.15
QQQ Invesco QQQ Trust Series 1 Reduce -1.1% 1.89% −0.15
SCHG Schwab US Large-Cap Growth Sold out 0.00% −0.15
GEV GE Vernova Inc. Reduce -5.1% 1.12% −0.13
GBCI Glacier Bancorp Inc. Reduce -0.3% 0.97% −0.11
PFE Pfizer Inc. Reduce -5.6% 1.09% −0.10
HD Home Depot Inc. Reduce -5.8% 0.75% −0.08
SILV Silvercrest Metals Inc. Sold out 0.00% −0.06
KHC The Kraft Heinz Co. Reduce -10.9% 0.56% −0.06
MDU Mdu Resources Group Inc. Reduce -2.1% 0.90% −0.06
DFAS Dimensional US Small Cap ETF Reduce -2.1% 0.40% −0.04
DFUS Dimensional US Eq MKT ETF Reduce -5.7% 0.31% −0.03
PANW Palo Alto Networks Inc. Reduce -0.3% 0.46% −0.02
WMT Walmart Inc. Reduce -0.6% 0.77% −0.01
MA Mastercard Inc. Class A Reduce -8.7% 0.17% −0.01
V Visa Inc. Class A Reduce -13.4% 0.16% −0.00
DADA Dada Nexus Ltd.-ADR Reduce -35.8% 0.14% +0.00
PG The Procter & Gamble Co. Reduce -2.0% 0.58% +0.01
VFH Vanguard Financials ETF Reduce -1.0% 1.03% +0.02
VLO Valero Energy Corp. Reduce -1.4% 0.32% +0.03
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -2.1% 0.78% +0.03
GEHC GE Healthcare Technology Reduce -0.6% 0.84% +0.04
DUK Duke Energy Corp. Reduce -0.0% 0.29% +0.04
JNJ Johnson & Johnson Reduce -3.9% 0.44% +0.05
KO The Coca-Cola Co. Reduce -1.0% 0.50% +0.07
XLE SS Energy Select Sector Reduce -0.1% 1.19% +0.12
MP MP Materials Corp. Reduce -19.6% 1.06% +0.23
T AT&T Inc. Reduce -8.3% 1.72% +0.24
VZ Verizon Communications Inc. Reduce -0.1% 1.95% +0.26
GE General Electric Reduce -2.7% 2.53% +0.41

Portfolio Buys Q4 2024 → Q1 2025
VRT Vertiv Holdings Co. Class A New 0.65% +0.65
ARTY iShares Future AI & Tech ETF New 0.37% +0.37
IBM Intl Business Machines Corp. Add +0.0% 2.21% +0.30
KRE SS SPDR S&P Regional Bank New 0.24% +0.24
BRK.B Berkshire Hathaway Inc. Class B Add +0.6% 1.30% +0.22
XOM Exxon Mobil Corp. Add +0.4% 1.66% +0.19
HYG Ishr Ibx Usd Hiyld CB ETF-Ui New 0.19% +0.19
AMD Advanced Micro Devices Add +51.0% 0.81% +0.19
UPS United Parcel Service Class B Add +30.8% 1.25% +0.18
TEM Tempus AI Inc. Class A New 0.16% +0.16
PM Philip Morris International Add +226.3% 0.35% +0.16
HWM Howmet Aerospace Inc. New 0.16% +0.16
IWO iShares Russell 2000 Growth New 0.15% +0.15
PTCT PTC Therapeutics Inc. New 0.15% +0.15
IYH iShares U.S. Healthcare ETF New 0.15% +0.15
GLD SPDR Gold Shares New 0.15% +0.15
COST Costco Wholesale Corp. Add +3.2% 1.65% +0.13
INTC Intel Corp. Add +10.0% 0.47% +0.10
F Ford Motor Co. Add +7.5% 0.95% +0.10
XLF SS Financial Select Sector Add +2.7% 1.23% +0.09
XLV SS Health Care Select Sector Add +3.5% 0.79% +0.08
CVS CVS Health Corp. Add +2.2% 0.23% +0.08
CLF Cleveland-Cliffs Inc. Add +29.2% 0.61% +0.08
CVX Chevron Corp. Add +1.3% 0.46% +0.07
CDE Coeur Mining Inc. New 0.07% +0.07
PSX Phillips 66 Add +0.6% 0.61% +0.06
DELL Dell Technologies -C Add +30.9% 0.93% +0.05
IBB iShares Biotechnology ETF Add +11.1% 0.53% +0.05
COP Conocophillips Add +1.5% 0.42% +0.04
WOLF Wolfspeed Inc. New 0.04% +0.04
CRWD CrowdStrike Holdings Inc. Class A Add +1.5% 0.43% +0.03
NEE Nextera Energy Inc. Add +1.1% 1.31% +0.03
XLC SS Comm Select Sector SPDR Add +1.4% 0.83% +0.02
CSCO Cisco Systems Inc. Add +1.1% 0.24% +0.02
VNQ Vanguard Real Estate ETF Add +0.0% 0.36% +0.01
META Meta Platforms Inc. Class A Add +0.4% 1.05% +0.01
XLI SS Industrial Select Sector Add +1.5% 0.29% +0.01
PEP Pepsico Inc. Add +0.2% 0.57% +0.00
BAC Bank of America Corp. Add +0.0% 0.41% −0.01
ONT Onterris Inc. Add +25.1% 0.70% −0.01
TGT Target Corp. Add +18.7% 0.34% −0.02
MRK Merck & Co. Inc. Add +5.0% 0.69% −0.02
NKE Nike Inc. Class B Add +8.9% 0.56% −0.04
MSFT Microsoft Corp. Add +6.6% 2.96% −0.10
DIS The Walt Disney Co. Add +2.0% 1.28% −0.11
XLK SS Technology Select Sector Add +2.1% 1.70% −0.14
NVDA Nvidia Corp. Add +3.5% 3.77% −0.65

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