Cladis Investment Advisory, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Cladis Investment Advisory, LLC reported 159 stock positions worth $181.7 million. Its top holding was Apple (AAPL) at 7.5% of the portfolio, followed by Nvidia (NVDA, 4.6%) and Amazon.com (AMZN, 2.4%). Compared with Q4 2025, it opened 12 new positions, sold out of 7, added to 39 and reduced 54. The biggest buy was Alphabet Class A (GOOGL, shares +303%) and the biggest sale Apple (AAPL, shares −4%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001911520
Portfolio Value
$181.7M (Q1 2026)
SEC Filing
0001911520-26-000002 ↗ filed May 15, 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 Q4 2025 Q1 2026: $181.7M $181.7M Q1 2026 Q2 2026: $214.0M Q2 2026

Holdings 159 stocks · $181.7M
AAPL Apple Inc. 7.47% 53,525 $13.6M Reduce -4.3%
NVDA Nvidia Corp. 4.61% 48,019 $8.4M Add +0.3%
AMZN Amazon.com Inc. 2.44% 21,262 $4.4M Reduce -1.4%
GE General Electric filed as GE AEROSPACE 2.39% 15,327 $4.3M Reduce -4.8%
MSFT Microsoft Corp. 2.32% 11,373 $4.2M Add +2.5%
GEV GE Vernova Inc. 2.31% 4,820 $4.2M Reduce -4.4%
LLY Eli Lilly & Co. 2.10% 4,142 $3.8M Reduce -11.0%
XOM Exxon Mobil Corp. 1.99% 21,297 $3.6M Reduce -1.6%
TSM Taiwan Semiconductor-SP ADR 1.92% 10,300 $3.5M No change
QQQ Invesco QQQ Trust Series 1 1.83% 5,761 $3.3M Reduce -3.4%
COST Costco Wholesale Corp. 1.76% 3,208 $3.2M Reduce -2.0%
CAT Caterpillar Inc. 1.66% 4,265 $3.0M Reduce -11.2%
FIBK First Interstate Bancsys-A 1.56% 84,953 $2.8M Reduce -3.3%
XLK SS Technology Select Sector 1.55% 21,222 $2.8M Reduce -9.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.49% 11,171 $2.7M Reduce -0.5%
VZ Verizon Communications Inc. 1.41% 51,139 $2.6M Reduce -2.8%
T AT&T Inc. 1.39% 87,063 $2.5M Reduce -4.5%
XLE SS Energy Select Sector 1.35% 40,045 $2.5M Reduce -4.1%
NEE Nextera Energy Inc. 1.20% 23,500 $2.2M Reduce -4.4%
JPM JPMorgan Chase & Co. 1.17% 7,203 $2.1M Reduce -1.4%
QXO Qxo Inc. 1.11% 103,560 $2.0M Reduce -3.5%
VRT Vertiv Holdings Co. Class A 1.07% 7,785 $2.0M Reduce -18.9%
UPS United Parcel Service Class B 1.06% 19,570 $1.9M Reduce -13.2%
ORCL Oracle Corp. 1.03% 12,780 $1.9M Add +94.4%
KNF Knife River Corp. 0.98% 21,767 $1.8M Reduce -0.5%
PFE Pfizer Inc. 0.96% 62,048 $1.7M Reduce -4.5%
MRK Merck & Co. Inc. 0.93% 14,124 $1.7M Reduce -3.8%
XLF SS Financial Select Sector 0.92% 34,048 $1.7M Reduce -1.2%
AMD Advanced Micro Devices 0.90% 8,060 $1.6M Add +12.6%
NFLX Netflix Inc. 0.88% 16,665 $1.6M Add +31.6%
FTAI Ftai Aviation Ltd. 0.88% 6,500 $1.6M Reduce -23.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.87% 34,387 $1.6M Add +7.1%
NKE Nike Inc. Class B 0.86% 29,616 $1.6M Add +16.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.86% 16,131 $1.6M Add +0.8%
META Meta Platforms Inc. Class A 0.84% 2,664 $1.5M Add +3.3%
WMT Walmart Inc. 0.84% 12,260 $1.5M Reduce -7.7%
BRK.B Berkshire Hathaway Inc. Class B 0.83% 3,148 $1.5M Reduce -1.6%
ECG Everus Construction Group 0.81% 12,543 $1.5M Reduce -21.2%
F Ford Motor Co. filed as FORD MTR CO 0.79% 124,511 $1.4M Add +0.0%
UNH Unitedhealth Group Inc. 0.78% 5,269 $1.4M Add +33.1%
VFH Vanguard Financials ETF 0.78% 11,755 $1.4M Reduce -0.8%
UBER Uber Technologies Inc. 0.74% 18,821 $1.4M Add +71.5%
XLC SS Comm Select Sector SPDR 0.73% 11,989 $1.3M Add +1.8%
PSX Phillips 66 0.71% 7,078 $1.3M No change
GBCI Glacier Bancorp Inc. 0.70% 28,298 $1.3M Reduce -3.4%
MDU Mdu Resources Group Inc. 0.69% 60,215 $1.2M Reduce -12.6%
GEHC GE Healthcare Technology 0.67% 17,168 $1.2M Reduce -0.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.66% 1,847 $1.2M No change
DELL Dell Technologies -C 0.66% 7,315 $1.2M Reduce -14.8%
SNOW Snowflake Inc. 0.64% 7,740 $1.2M Reduce -1.3%
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.64% 52,900 $1.2M Reduce -9.4%
GOOGL Alphabet Inc. Class A 0.62% 3,957 $1.1M Add +303.4%
XLV SS Health Care Select Sector 0.60% 7,460 $1.1M Add +1.6%
INTC Intel Corp. 0.59% 24,305 $1.1M Reduce -19.8%
FDX FedEx Corp. 0.59% 3,000 $1.1M No change
SBUX Starbucks Corp. 0.58% 11,829 $1.1M Reduce -0.8%
KRE SS SPDR S&P Regional Bank 0.58% 16,050 $1.0M Add +3.2%
CPK Chesapeake Utilities Corp. 0.56% 8,000 $1.0M No change
HD Home Depot Inc. 0.55% 3,041 $1.0M Add +5.6%
COIN Coinbase Global Inc. Class A 0.53% 5,480 $957K Add +207.9%
GS Goldman Sachs Group Inc. 0.53% 1,130 $956K No change
WFC Wells Fargo & Co. 0.51% 11,727 $934K Reduce -7.9%
BMY Bristol-Myers Squibb Co. 0.51% 15,300 $928K Reduce -0.3%
ARTY iShares Future AI & Tech ETF 0.51% 19,795 $921K No change
CVX Chevron Corp. 0.49% 4,320 $894K Reduce -20.3%
JNJ Johnson & Johnson 0.49% 3,650 $892K Add +0.0%
IBB iShares Biotechnology ETF 0.49% 5,275 $891K Reduce -1.9%
ISRG Intuitive Surgical Inc. 0.48% 1,905 $878K No change
BX Blackstone Inc. 0.47% 7,500 $862K Add +7.1%
GOOG Alphabet Inc. Class C 0.47% 2,981 $856K Reduce -52.3%
DFAS Dimensional US Small Cap ETF 0.47% 11,954 $850K Add +18.0%
VLO Valero Energy Corp. 0.47% 3,434 $848K No change
PEP Pepsico Inc. 0.45% 5,280 $820K No change
CLF Cleveland-Cliffs Inc. 0.45% 96,650 $817K Reduce -1.5%
BA The Boeing Co. 0.45% 4,075 $811K Add +1.0%
CRWD CrowdStrike Holdings Inc. Class A 0.43% 1,993 $778K Add +6.4%
COP Conocophillips 0.40% 5,518 $728K Add +0.0%
HON Honeywell International Inc. 0.40% 3,188 $721K No change
MCD McDonald's Corp. 0.37% 2,188 $680K No change
C Citigroup Inc. 0.37% 5,911 $670K No change
PG The Procter & Gamble Co. 0.36% 4,574 $661K Add +0.0%
CALM Cal-Maine Foods Inc. 0.36% 8,300 $657K Add +33.9%
MO Altria Group Inc. 0.36% 9,914 $654K No change
MPC Marathon Petroleum Corp. 0.36% 2,674 $653K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.36% 13,379 $652K Add +0.0%
KO The Coca-Cola Co. 0.36% 8,519 $648K No change
NEM Newmont Corp. 0.33% 5,600 $606K Reduce -26.3%
NOW ServiceNow Inc. 0.33% 5,695 $595K Add +273.4%
BYRN Byrna Technologies Inc. 0.32% 63,900 $587K Add +43.3%
TXN Texas Instruments Inc. 0.32% 3,000 $582K Reduce -25.0%
PANW Palo Alto Networks Inc. 0.32% 3,620 $580K Add +2.0%
VNQ Vanguard Real Estate ETF 0.31% 6,390 $567K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.30% 1,265 $553K Add +0.4%
MU Micron Technology Inc. 0.30% 1,619 $547K Reduce -0.4%
CMI Cummins Inc. 0.30% 1,000 $538K No change
XLI SS Industrial Select Sector 0.29% 3,315 $536K No change
DFUS Dimensional US Eq MKT ETF 0.29% 7,546 $535K Add +7.6%
TGT Target Corp. 0.28% 4,262 $517K Reduce -10.5%
MMM 3M Co. 0.28% 3,550 $516K Reduce -2.7%
VTV Vanguard Mrngstr Val ETF-Aui 0.28% 2,600 $510K Reduce -15.8%
SO The Southern Co. 0.27% 5,160 $498K No change
XOP SS SPDR S&P Og Exp & Prod 0.27% 2,678 $487K Add +1.9%
DE Deere & Co. 0.27% 864 $486K Reduce -5.0%
Q Qnity Electronics Inc. 0.26% 4,101 $473K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.25% 1,590 $457K No change
WTW Willis Towers Watson PLC 0.24% 1,510 $439K No change
DUK Duke Energy Corp. 0.23% 3,247 $425K No change
RDDT Reddit Inc. Class A 0.23% 3,100 $417K Add +8.8%
AEP American Electric Power 0.23% 3,158 $414K No change
CSCO Cisco Systems Inc. 0.23% 5,288 $410K Add +0.0%
KGC Kinross Gold Corp. 0.22% 13,000 $397K New
HWM Howmet Aerospace Inc. 0.21% 1,666 $384K No change
PM Philip Morris International 0.20% 2,209 $365K No change
DFAX Dimensional World Ex US Core 0.20% 10,443 $355K New
V Visa Inc. Class A 0.19% 1,136 $343K Add +8.7%
ABBV Abbvie Inc. 0.19% 1,558 $339K No change
LUV Southwest Airlines Co. 0.19% 9,000 $338K No change
CVS CVS Health Corp. 0.18% 4,515 $324K Add +0.0%
MSI Motorola Solutions Inc. 0.17% 728 $316K No change
IWO iShares Russell 2000 Growth 0.17% 1,000 $314K No change
GLD SPDR Gold Shares 0.17% 712 $306K No change
ARM Arm Holdings PLC-ADR 0.17% 2,000 $303K No change
MDLZ Mondelez International Inc. Class A 0.17% 5,236 $302K No change
TWLO Twilio Inc. Class A 0.16% 2,350 $296K No change
PTCT PTC Therapeutics Inc. 0.16% 4,200 $286K No change
IWN iShares Russell 2000 Value E 0.16% 1,500 $284K Add +15.4%
SPG Simon Property Group Inc. 0.15% 1,500 $280K No change
PAAS Pan American Silver Corp. 0.15% 5,000 $273K New
HAL Halliburton Co. 0.15% 7,000 $273K Reduce -39.7%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.15% 3,400 $271K No change
DAL Delta Air Lines Inc. 0.15% 4,000 $266K No change
TRMB Trimble Inc. 0.14% 4,000 $261K No change
MP MP Materials Corp. 0.14% 5,400 $261K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.14% 865 $259K No change
AMGN Amgen Inc. 0.14% 715 $252K New
CPRX Catalyst Pharmaceuticals Inc. 0.14% 10,020 $248K No change
MET Metlife Inc. 0.14% 3,500 $248K No change
IFRA iShares US Infrastructure 0.14% 4,300 $246K No change
VRTX Vertex Pharmaceuticals Inc. 0.13% 542 $242K No change
GM General Motors Co. 0.13% 3,248 $242K No change
WCN Waste Connections Inc. 0.13% 1,444 $235K No change
PLTR Palantir Technologies Inc. Class A 0.13% 1,600 $234K Reduce -5.9%
SLB SLB Ltd. filed as SLB LIMITED 0.13% 4,546 $234K Reduce -18.0%
AIVL Wisdomtree US AI Enhanced Va 0.13% 2,000 $231K No change
LULU Lululemon Athletica Inc. 0.13% 1,500 $230K No change
AVGO Broadcom Inc. 0.12% 720 $223K Add +5.9%
SCHG Schwab US Large-Cap Growth 0.12% 7,536 $220K No change
CRWV Coreweave Inc. Class A 0.12% 2,800 $217K New
CMCSA Comcast Corp. Class A 0.12% 7,544 $217K Reduce -1.4%
MA Mastercard Inc. Class A 0.12% 428 $214K No change
NVO Novo-Nordisk A/S-Spons ADR 0.12% 5,700 $209K New
ENB Enbridge Inc. 0.11% 3,832 $207K New
GLW Corning Inc. 0.11% 1,500 $204K New
AEM Agnico Eagle Mines Ltd. 0.11% 1,000 $203K New
VVV Valvoline Inc. 0.11% 6,000 $202K New
IWM iShares Russell 2000 ETF 0.11% 808 $200K New
HL Hecla Mining Co. 0.10% 10,000 $186K New
WIT Wipro Ltd.-ADR 0.02% 19,680 $42K No change
NFGC New Found Gold Corp. 0.01% 10,000 $19K No change

Portfolio Sells Q4 2025 → Q1 2026
AAPL Apple Inc. Reduce -4.3% 7.47% −0.85
LLY Eli Lilly & Co. Reduce -11.0% 2.10% −0.64
GOOG Alphabet Inc. Class C Reduce -52.3% 0.47% −0.60
IBM Intl Business Machines Corp. Reduce -0.5% 1.49% −0.33
GE General Electric Reduce -4.8% 2.39% −0.32
SNOW Snowflake Inc. Reduce -1.3% 0.64% −0.30
XLK SS Technology Select Sector Reduce -9.6% 1.55% −0.30
AMZN Amazon.com Inc. Reduce -1.4% 2.44% −0.29
CLF Cleveland-Cliffs Inc. Reduce -1.5% 0.45% −0.26
QQQ Invesco QQQ Trust Series 1 Reduce -3.4% 1.83% −0.17
UPS United Parcel Service Class B Reduce -13.2% 1.06% −0.16
GIS General Mills Inc. Sold out 0.00% −0.16
ONT Onterris Inc. Reduce -9.4% 0.64% −0.16
KHC The Kraft Heinz Co. Sold out 0.00% −0.15
IREN Iren Ltd. Sold out 0.00% −0.14
WFC Wells Fargo & Co. Reduce -7.9% 0.51% −0.14
CRM Salesforce Inc. Sold out 0.00% −0.13
JPM JPMorgan Chase & Co. Reduce -1.4% 1.17% −0.12
HXL Hexcel Corp. Sold out 0.00% −0.12
ARKK ARK Innovation ETF Sold out 0.00% −0.12
XLF SS Financial Select Sector Reduce -1.2% 0.92% −0.11
FIBK First Interstate Bancsys-A Reduce -3.3% 1.56% −0.10
BIIB Biogen Inc. Sold out 0.00% −0.10
GEHC GE Healthcare Technology Reduce -0.1% 0.67% −0.10
VFH Vanguard Financials ETF Reduce -0.8% 0.78% −0.08
NEM Newmont Corp. Reduce -26.3% 0.33% −0.08
TXN Texas Instruments Inc. Reduce -25.0% 0.32% −0.06
MDU Mdu Resources Group Inc. Reduce -12.6% 0.69% −0.05
VTV Vanguard Mrngstr Val ETF-Aui Reduce -15.8% 0.28% −0.04
FTAI Ftai Aviation Ltd. Reduce -23.5% 0.88% −0.04
PLTR Palantir Technologies Inc. Class A Reduce -5.9% 0.13% −0.04
MMM 3M Co. Reduce -2.7% 0.28% −0.04
HAL Halliburton Co. Reduce -39.7% 0.15% −0.03
QXO Qxo Inc. Reduce -3.5% 1.11% −0.03
INTC Intel Corp. Reduce -19.8% 0.59% −0.02
GBCI Glacier Bancorp Inc. Reduce -3.4% 0.70% −0.01
IBB iShares Biotechnology ETF Reduce -1.9% 0.49% −0.01
CMCSA Comcast Corp. Class A Reduce -1.4% 0.12% −0.01
SLB SLB Ltd. Reduce -18.0% 0.13% +0.01
WMT Walmart Inc. Reduce -7.7% 0.84% +0.03
TGT Target Corp. Reduce -10.5% 0.28% +0.03
SBUX Starbucks Corp. Reduce -0.8% 0.58% +0.03
DE Deere & Co. Reduce -5.0% 0.27% +0.04
CVX Chevron Corp. Reduce -20.3% 0.49% +0.04
MU Micron Technology Inc. Reduce -0.4% 0.30% +0.05
BMY Bristol-Myers Squibb Co. Reduce -0.3% 0.51% +0.06
DELL Dell Technologies -C Reduce -14.8% 0.66% +0.07
ECG Everus Construction Group Reduce -21.2% 0.81% +0.07
PFE Pfizer Inc. Reduce -4.5% 0.96% +0.07
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.6% 0.83% +0.08

Portfolio Buys Q4 2025 → Q1 2026
GOOGL Alphabet Inc. Class A Add +303.4% 0.62% +0.46
ORCL Oracle Corp. Add +94.4% 1.03% +0.33
COIN Coinbase Global Inc. Class A Add +207.9% 0.53% +0.31
UBER Uber Technologies Inc. Add +71.5% 0.74% +0.25
NFLX Netflix Inc. Add +31.6% 0.88% +0.23
KGC Kinross Gold Corp. New 0.22% +0.22
NOW ServiceNow Inc. Add +273.4% 0.33% +0.20
DFAX Dimensional World Ex US Core New 0.20% +0.20
PAAS Pan American Silver Corp. New 0.15% +0.15
AMGN Amgen Inc. New 0.14% +0.14
CRWV Coreweave Inc. Class A New 0.12% +0.12
COP Conocophillips Add +0.0% 0.40% +0.12
XLU St Sr Utl SL SE SPDR ETF-Usd Add +7.1% 0.87% +0.12
NVO Novo-Nordisk A/S-Spons ADR New 0.12% +0.12
ENB Enbridge Inc. New 0.11% +0.11
GLW Corning Inc. New 0.11% +0.11
AEM Agnico Eagle Mines Ltd. New 0.11% +0.11
VVV Valvoline Inc. New 0.11% +0.11
IWM iShares Russell 2000 ETF New 0.11% +0.11
HL Hecla Mining Co. New 0.10% +0.10
CALM Cal-Maine Foods Inc. Add +33.9% 0.36% +0.09
XOP SS SPDR S&P Og Exp & Prod Add +1.9% 0.27% +0.09
DFAS Dimensional US Small Cap ETF Add +18.0% 0.47% +0.08
JNJ Johnson & Johnson Add +0.0% 0.49% +0.08
UNH Unitedhealth Group Inc. Add +33.1% 0.78% +0.07
IWN iShares Russell 2000 Value E Add +15.4% 0.16% +0.03
KRE SS SPDR S&P Regional Bank Add +3.2% 0.58% +0.02
DFUS Dimensional US Eq MKT ETF Add +7.6% 0.29% +0.01
HD Home Depot Inc. Add +5.6% 0.55% +0.01
PG The Procter & Gamble Co. Add +0.0% 0.36% +0.00
CSCO Cisco Systems Inc. Add +0.0% 0.23% +0.00
AVGO Broadcom Inc. Add +5.9% 0.12% −0.01
V Visa Inc. Class A Add +8.7% 0.19% −0.01
CVS CVS Health Corp. Add +0.0% 0.18% −0.02
XLV SS Health Care Select Sector Add +1.6% 0.60% −0.02
XLC SS Comm Select Sector SPDR Add +1.8% 0.73% −0.03
NKE Nike Inc. Class B Add +16.0% 0.86% −0.03
VUG Vanguard Mrngstar GR ETF-Sui Add +0.4% 0.30% −0.03
BA The Boeing Co. Add +1.0% 0.45% −0.03
PANW Palo Alto Networks Inc. Add +2.0% 0.32% −0.04
BAC Bank of America Corp. Add +0.0% 0.36% −0.04
CRWD CrowdStrike Holdings Inc. Class A Add +6.4% 0.43% −0.05
AMD Advanced Micro Devices Add +12.6% 0.90% −0.05
BYRN Byrna Technologies Inc. Add +43.3% 0.32% −0.09
META Meta Platforms Inc. Class A Add +3.3% 0.84% −0.09
F Ford Motor Co. Add +0.0% 0.79% −0.10
BX Blackstone Inc. Add +7.1% 0.47% −0.12
RDDT Reddit Inc. Class A Add +8.8% 0.23% −0.13
DIS The Walt Disney Co. Add +0.8% 0.86% −0.14
NVDA Nvidia Corp. Add +0.3% 4.61% −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