Cladis Investment Advisory, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Cladis Investment Advisory, LLC reported 154 stock positions worth $182.7 million. Its top holding was Apple (AAPL) at 8.3% of the portfolio, followed by Nvidia (NVDA, 4.9%) and Microsoft (MSFT, 2.9%). Compared with Q3 2025, it opened 16 new positions, sold out of 7, added to 38 and reduced 54. The biggest buy was a new position in Oracle (ORCL) and the biggest sale Dell Technologies -C (DELL, shares −36%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001911520
Portfolio Value
$182.7M (Q4 2025)
SEC Filing
0001911520-26-000001 ↗ filed Feb 13, 2026

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 Q1 2025 Q2 2025: $159.6M Q2 2025 Q3 2025: $174.7M Q3 2025 Q4 2025: $182.7M $182.7M Q4 2025 Q1 2026: $181.7M Q1 2026 Q2 2026: $214.0M Q2 2026

Holdings 154 stocks · $182.7M
AAPL Apple Inc. 8.32% 55,925 $15.2M Reduce -0.2%
NVDA Nvidia Corp. 4.89% 47,859 $8.9M Reduce -0.4%
MSFT Microsoft Corp. 2.94% 11,098 $5.4M Add +0.5%
LLY Eli Lilly & Co. 2.74% 4,652 $5.0M Reduce -0.1%
AMZN Amazon.com Inc. 2.72% 21,562 $5.0M Reduce -1.9%
GE General Electric filed as GE AEROSPACE 2.72% 16,104 $5.0M Reduce -6.9%
QQQ Invesco QQQ Trust Series 1 2.00% 5,961 $3.7M No change
XLK SS Technology Select Sector 1.85% 23,477 $3.4M Reduce -0.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.82% 11,221 $3.3M Reduce -6.5%
GEV GE Vernova Inc. 1.76% 5,044 $3.2M Reduce -2.4%
TSM Taiwan Semiconductor-SP ADR 1.71% 10,300 $3.1M No change
FIBK First Interstate Bancsys-A 1.66% 87,850 $3.0M Reduce -0.8%
COST Costco Wholesale Corp. 1.55% 3,273 $2.8M Add +25.3%
CAT Caterpillar Inc. 1.51% 4,800 $2.7M Reduce -4.0%
XOM Exxon Mobil Corp. 1.43% 21,636 $2.6M Add +0.5%
JPM JPMorgan Chase & Co. 1.29% 7,303 $2.4M No change
T AT&T Inc. 1.24% 91,160 $2.3M Add +0.0%
UPS United Parcel Service Class B 1.22% 22,538 $2.2M Reduce -19.3%
VZ Verizon Communications Inc. 1.17% 52,636 $2.1M Reduce -0.6%
QXO Qxo Inc. 1.13% 107,360 $2.1M Add +37.0%
NEE Nextera Energy Inc. 1.08% 24,583 $2.0M No change
GOOG Alphabet Inc. Class C 1.07% 6,255 $2.0M Reduce -14.4%
XLF SS Financial Select Sector 1.03% 34,447 $1.9M Add +0.9%
XLE SS Energy Select Sector 1.02% 41,760 $1.9M Add +16.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.00% 16,000 $1.8M Reduce -8.7%
AMD Advanced Micro Devices 0.96% 7,160 $1.7M Reduce -37.0%
SNOW Snowflake Inc. 0.94% 7,840 $1.7M Reduce -15.2%
META Meta Platforms Inc. Class A 0.93% 2,579 $1.7M Add +2.2%
FTAI Ftai Aviation Ltd. 0.92% 8,500 $1.7M No change
F Ford Motor Co. filed as FORD MTR CO 0.89% 124,506 $1.6M Reduce -1.0%
NKE Nike Inc. Class B 0.89% 25,531 $1.6M Add +69.3%
PFE Pfizer Inc. 0.89% 64,945 $1.6M Reduce -2.3%
VFH Vanguard Financials ETF 0.87% 11,855 $1.6M Reduce -0.3%
VRT Vertiv Holdings Co. Class A 0.85% 9,600 $1.6M Reduce -17.9%
MRK Merck & Co. Inc. 0.85% 14,674 $1.5M Add +0.4%
KNF Knife River Corp. 0.84% 21,867 $1.5M Add +0.0%
WMT Walmart Inc. 0.81% 13,285 $1.5M Add +10.9%
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.79% 58,400 $1.5M Reduce -5.7%
GEHC GE Healthcare Technology 0.77% 17,182 $1.4M Add +21.8%
XLC SS Comm Select Sector SPDR 0.76% 11,775 $1.4M Reduce -0.8%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.75% 32,110 $1.4M Add +12.1%
BRK.B Berkshire Hathaway Inc. Class B 0.75% 3,198 $1.4M No change
ECG Everus Construction Group 0.75% 15,917 $1.4M Reduce -0.7%
MDU Mdu Resources Group Inc. 0.74% 68,924 $1.3M Reduce -2.5%
UNH Unitedhealth Group Inc. 0.72% 3,958 $1.3M Reduce -10.2%
CLF Cleveland-Cliffs Inc. 0.71% 98,150 $1.3M Reduce -24.6%
GBCI Glacier Bancorp Inc. 0.71% 29,298 $1.3M Reduce -3.6%
ORCL Oracle Corp. 0.70% 6,574 $1.3M New
SPY SS SPDR S&P 500 ETF Trust-US 0.69% 1,847 $1.3M Reduce -0.4%
NFLX Netflix Inc. 0.65% 12,660 $1.2M Add +87.6%
WFC Wells Fargo & Co. 0.65% 12,727 $1.2M Add +0.0%
XLV SS Health Care Select Sector 0.62% 7,340 $1.1M Add +13.5%
INTC Intel Corp. 0.61% 30,305 $1.1M Reduce -14.7%
DELL Dell Technologies -C 0.59% 8,590 $1.1M Reduce -36.5%
BX Blackstone Inc. 0.59% 7,000 $1.1M No change
ISRG Intuitive Surgical Inc. 0.59% 1,905 $1.1M Add +82.3%
KRE SS SPDR S&P Regional Bank 0.55% 15,550 $1.0M Add +55.3%
SBUX Starbucks Corp. 0.55% 11,928 $1.0M Add +137.3%
CPK Chesapeake Utilities Corp. 0.55% 8,000 $998K No change
GS Goldman Sachs Group Inc. 0.54% 1,130 $993K Reduce -2.2%
HD Home Depot Inc. 0.54% 2,880 $991K Add +2.3%
ARTY iShares Future AI & Tech ETF 0.52% 19,795 $954K Reduce -6.4%
PSX Phillips 66 0.50% 7,078 $913K Add +2.9%
IBB iShares Biotechnology ETF 0.50% 5,375 $907K Reduce -0.9%
UBER Uber Technologies Inc. 0.49% 10,976 $897K New
CRWD CrowdStrike Holdings Inc. Class A 0.48% 1,873 $878K Add +12.6%
BA The Boeing Co. 0.48% 4,035 $876K No change
FDX FedEx Corp. 0.47% 3,000 $867K No change
BMY Bristol-Myers Squibb Co. 0.45% 15,350 $828K Reduce -47.3%
CVX Chevron Corp. 0.45% 5,420 $826K No change
NEM Newmont Corp. 0.42% 7,600 $759K Reduce -22.4%
PEP Pepsico Inc. 0.41% 5,280 $758K Reduce -0.2%
JNJ Johnson & Johnson 0.41% 3,649 $755K No change
BYRN Byrna Technologies Inc. 0.41% 44,600 $749K Add +17.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.40% 13,378 $736K Reduce -1.5%
DFAS Dimensional US Small Cap ETF 0.39% 10,130 $706K Add +7.6%
TXN Texas Instruments Inc. 0.38% 4,000 $694K No change
C Citigroup Inc. 0.38% 5,911 $690K No change
MCD McDonald's Corp. 0.37% 2,188 $669K No change
PG The Procter & Gamble Co. 0.36% 4,573 $655K Reduce -0.1%
RDDT Reddit Inc. Class A 0.36% 2,850 $655K New
PANW Palo Alto Networks Inc. 0.36% 3,550 $654K No change
HON Honeywell International Inc. 0.34% 3,188 $622K Reduce -29.0%
VUG Vanguard Mrngstar GR ETF-Sui 0.34% 1,260 $615K Reduce -2.7%
KO The Coca-Cola Co. 0.33% 8,519 $596K Add +0.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.32% 3,088 $590K No change
MMM 3M Co. 0.32% 3,650 $584K Add +0.0%
MO Altria Group Inc. 0.31% 9,914 $572K Reduce -1.5%
VNQ Vanguard Real Estate ETF 0.31% 6,390 $565K Add +18.6%
VLO Valero Energy Corp. 0.31% 3,434 $559K Reduce -0.5%
DFUS Dimensional US Eq MKT ETF 0.28% 7,015 $520K No change
COP Conocophillips 0.28% 5,517 $516K No change
XLI SS Industrial Select Sector 0.28% 3,315 $514K Add +0.8%
CMI Cummins Inc. 0.28% 1,000 $510K No change
WTW Willis Towers Watson PLC 0.27% 1,510 $496K No change
CALM Cal-Maine Foods Inc. 0.27% 6,200 $493K Add +55.0%
TGT Target Corp. 0.25% 4,761 $465K Reduce -8.6%
MU Micron Technology Inc. 0.25% 1,625 $464K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.25% 1,590 $461K No change
SO The Southern Co. 0.25% 5,160 $450K No change
MPC Marathon Petroleum Corp. 0.24% 2,674 $435K No change
DE Deere & Co. 0.23% 909 $423K No change
CSCO Cisco Systems Inc. 0.22% 5,287 $407K No change
COIN Coinbase Global Inc. Class A 0.22% 1,780 $403K Add +51.5%
DUK Duke Energy Corp. 0.21% 3,247 $381K Reduce -1.2%
LUV Southwest Airlines Co. 0.20% 9,000 $372K Add +12.5%
V Visa Inc. Class A 0.20% 1,045 $367K Add +0.1%
AEP American Electric Power 0.20% 3,158 $364K No change
CVS CVS Health Corp. 0.20% 4,514 $358K Add +0.0%
ABBV Abbvie Inc. 0.19% 1,558 $356K No change
PM Philip Morris International 0.19% 2,209 $354K No change
HWM Howmet Aerospace Inc. 0.19% 1,666 $342K No change
Q Qnity Electronics Inc. 0.18% 4,101 $335K New
TWLO Twilio Inc. Class A 0.18% 2,350 $334K No change
XOP SS SPDR S&P Og Exp & Prod 0.18% 2,628 $332K Reduce -1.3%
HAL Halliburton Co. 0.18% 11,600 $328K Add +9.4%
IWO iShares Russell 2000 Growth 0.18% 1,000 $323K Add +11.1%
PTCT PTC Therapeutics Inc. 0.17% 4,200 $319K Reduce -19.2%
TRMB Trimble Inc. 0.17% 4,000 $313K No change
LULU Lululemon Athletica Inc. 0.17% 1,500 $312K New
GOOGL Alphabet Inc. Class A 0.17% 981 $307K Reduce -5.8%
PLTR Palantir Technologies Inc. Class A 0.17% 1,700 $302K Reduce -16.1%
GIS General Mills Inc. 0.16% 6,173 $287K Reduce -19.6%
GLD SPDR Gold Shares 0.15% 712 $282K No change
MDLZ Mondelez International Inc. Class A 0.15% 5,236 $282K Reduce -1.3%
MSI Motorola Solutions Inc. 0.15% 728 $279K New
SPG Simon Property Group Inc. 0.15% 1,500 $278K No change
DAL Delta Air Lines Inc. 0.15% 4,000 $278K No change
MET Metlife Inc. 0.15% 3,500 $276K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.15% 3,400 $274K No change
MP MP Materials Corp. 0.15% 5,400 $273K Reduce -1.8%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.15% 865 $272K No change
KHC The Kraft Heinz Co. 0.15% 11,079 $269K Reduce -21.3%
GM General Motors Co. 0.14% 3,248 $264K New
WCN Waste Connections Inc. 0.14% 1,444 $253K No change
IREN Iren Ltd. filed as IREN LIMITED 0.14% 6,600 $249K New
SCHG Schwab US Large-Cap Growth 0.13% 7,536 $246K No change
VRTX Vertex Pharmaceuticals Inc. 0.13% 542 $246K New
CRM Salesforce Inc. 0.13% 927 $246K Add +5.9%
MA Mastercard Inc. Class A 0.13% 428 $245K Add +4.9%
IWN iShares Russell 2000 Value E 0.13% 1,300 $236K No change
AVGO Broadcom Inc. 0.13% 680 $235K No change
CPRX Catalyst Pharmaceuticals Inc. 0.13% 10,020 $234K New
NOW ServiceNow Inc. 0.13% 1,525 $234K Reduce -39.6%
AIVL Wisdomtree US AI Enhanced Va 0.13% 2,000 $230K No change
CMCSA Comcast Corp. Class A 0.13% 7,650 $229K No change
IFRA iShares US Infrastructure 0.12% 4,300 $226K New
HXL Hexcel Corp. 0.12% 3,000 $222K New
ARM Arm Holdings PLC-ADR 0.12% 2,000 $219K Reduce -33.3%
ARKK ARK Innovation ETF 0.12% 2,775 $213K No change
SLB SLB Ltd. filed as SLB LIMITED 0.12% 5,546 $213K New
BIIB Biogen Inc. 0.10% 1,040 $183K New
WIT Wipro Ltd.-ADR 0.03% 19,680 $56K New
NFGC New Found Gold Corp. 0.02% 10,000 $30K New

Portfolio Sells Q3 2025 → Q4 2025
DELL Dell Technologies -C Reduce -36.5% 0.59% −0.51
WPM Wheaton Precious Metals Corp. Sold out 0.00% −0.32
BMY Bristol-Myers Squibb Co. Reduce -47.3% 0.45% −0.30
GE General Electric Reduce -6.9% 2.72% −0.26
SNOW Snowflake Inc. Reduce -15.2% 0.94% −0.25
NVDA Nvidia Corp. Reduce -0.4% 4.89% −0.25
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.23
HON Honeywell International Inc. Reduce -29.0% 0.34% −0.20
CLF Cleveland-Cliffs Inc. Reduce -24.6% 0.71% −0.20
ONT Onterris Inc. Reduce -5.7% 0.79% −0.18
FNV Franco-Nevada Corp. Sold out 0.00% −0.18
VRT Vertiv Holdings Co. Class A Reduce -17.9% 0.85% −0.16
VZ Verizon Communications Inc. Reduce -0.6% 1.17% −0.16
UNH Unitedhealth Group Inc. Reduce -10.2% 0.72% −0.16
DIS The Walt Disney Co. Reduce -8.7% 1.00% −0.15
GBCI Glacier Bancorp Inc. Reduce -3.6% 0.71% −0.14
NOW ServiceNow Inc. Reduce -39.6% 0.13% −0.14
TEM Tempus AI Inc. Class A Sold out 0.00% −0.13
ARM Arm Holdings PLC-ADR Reduce -33.3% 0.12% −0.12
AMGN Amgen Inc. Sold out 0.00% −0.12
IBM Intl Business Machines Corp. Reduce -6.5% 1.82% −0.12
FWONA Liberty Media Corp. Class A Sold out 0.00% −0.12
UPS United Parcel Service Class B Reduce -19.3% 1.22% −0.11
AMD Advanced Micro Devices Reduce -37.0% 0.96% −0.10
OGN Organon & Co. Sold out 0.00% −0.09
PFE Pfizer Inc. Reduce -2.3% 0.89% −0.08
INTC Intel Corp. Reduce -14.7% 0.61% −0.07
MO Altria Group Inc. Reduce -1.5% 0.31% −0.07
GIS General Mills Inc. Reduce -19.6% 0.16% −0.06
KHC The Kraft Heinz Co. Reduce -21.3% 0.15% −0.06
GEV GE Vernova Inc. Reduce -2.4% 1.76% −0.06
MP MP Materials Corp. Reduce -1.8% 0.15% −0.06
NEM Newmont Corp. Reduce -22.4% 0.42% −0.06
XLK SS Technology Select Sector Reduce -0.6% 1.85% −0.05
PLTR Palantir Technologies Inc. Class A Reduce -16.1% 0.17% −0.05
XLC SS Comm Select Sector SPDR Reduce -0.8% 0.76% −0.05
PG The Procter & Gamble Co. Reduce -0.1% 0.36% −0.04
ECG Everus Construction Group Reduce -0.7% 0.75% −0.04
AMZN Amazon.com Inc. Reduce -1.9% 2.72% −0.04
MDLZ Mondelez International Inc. Class A Reduce -1.3% 0.15% −0.04
ARTY iShares Future AI & Tech ETF Reduce -6.4% 0.52% −0.03
VLO Valero Energy Corp. Reduce -0.5% 0.31% −0.03
VFH Vanguard Financials ETF Reduce -0.3% 0.87% −0.03
DUK Duke Energy Corp. Reduce -1.2% 0.21% −0.02
XOP SS SPDR S&P Og Exp & Prod Reduce -1.3% 0.18% −0.02
VUG Vanguard Mrngstar GR ETF-Sui Reduce -2.7% 0.34% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.4% 0.69% −0.02
TGT Target Corp. Reduce -8.6% 0.25% −0.01
PEP Pepsico Inc. Reduce -0.2% 0.41% −0.01
PTCT PTC Therapeutics Inc. Reduce -19.2% 0.17% −0.01

Portfolio Buys Q3 2025 → Q4 2025
ORCL Oracle Corp. New 0.70% +0.70
UBER Uber Technologies Inc. New 0.49% +0.49
RDDT Reddit Inc. Class A New 0.36% +0.36
ISRG Intuitive Surgical Inc. Add +82.3% 0.59% +0.32
SBUX Starbucks Corp. Add +137.3% 0.55% +0.31
NKE Nike Inc. Class B Add +69.3% 0.89% +0.29
QXO Qxo Inc. Add +37.0% 1.13% +0.28
KRE SS SPDR S&P Regional Bank Add +55.3% 0.55% +0.19
NFLX Netflix Inc. Add +87.6% 0.65% +0.19
Q Qnity Electronics Inc. New 0.18% +0.18
LULU Lululemon Athletica Inc. New 0.17% +0.17
GEHC GE Healthcare Technology Add +21.8% 0.77% +0.17
COST Costco Wholesale Corp. Add +25.3% 1.55% +0.16
MSI Motorola Solutions Inc. New 0.15% +0.15
GM General Motors Co. New 0.14% +0.14
MRK Merck & Co. Inc. Add +0.4% 0.85% +0.14
IREN Iren Ltd. New 0.14% +0.14
VRTX Vertex Pharmaceuticals Inc. New 0.13% +0.13
CPRX Catalyst Pharmaceuticals Inc. New 0.13% +0.13
IFRA iShares US Infrastructure New 0.12% +0.12
HXL Hexcel Corp. New 0.12% +0.12
SLB SLB Ltd. New 0.12% +0.12
XLV SS Health Care Select Sector Add +13.5% 0.62% +0.11
XLE SS Energy Select Sector Add +16.7% 1.02% +0.11
WMT Walmart Inc. Add +10.9% 0.81% +0.10
BIIB Biogen Inc. New 0.10% +0.10
LUV Southwest Airlines Co. Add +12.5% 0.20% +0.06
CALM Cal-Maine Foods Inc. Add +55.0% 0.27% +0.05
WFC Wells Fargo & Co. Add +0.0% 0.65% +0.04
XOM Exxon Mobil Corp. Add +0.5% 1.43% +0.04
XLU St Sr Utl SL SE SPDR ETF-Usd Add +12.1% 0.75% +0.04
WIT Wipro Ltd.-ADR New 0.03% +0.03
HAL Halliburton Co. Add +9.4% 0.18% +0.03
VNQ Vanguard Real Estate ETF Add +18.6% 0.31% +0.03
DFAS Dimensional US Small Cap ETF Add +7.6% 0.39% +0.02
NFGC New Found Gold Corp. New 0.02% +0.02
CRM Salesforce Inc. Add +5.9% 0.13% +0.02
CRWD CrowdStrike Holdings Inc. Class A Add +12.6% 0.48% +0.01
IWO iShares Russell 2000 Growth Add +11.1% 0.18% +0.01
KO The Coca-Cola Co. Add +0.0% 0.33% +0.00
CVS CVS Health Corp. Add +0.0% 0.20% +0.00
MA Mastercard Inc. Class A Add +4.9% 0.13% +0.00
V Visa Inc. Class A Add +0.1% 0.20% −0.00
MMM 3M Co. Add +0.0% 0.32% −0.00
COIN Coinbase Global Inc. Class A Add +51.5% 0.22% −0.01
XLI SS Industrial Select Sector Add +0.8% 0.28% −0.01
XLF SS Financial Select Sector Add +0.9% 1.03% −0.02
PSX Phillips 66 Add +2.9% 0.50% −0.04
BYRN Byrna Technologies Inc. Add +17.7% 0.41% −0.07
HD Home Depot Inc. Add +2.3% 0.54% −0.11

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