Clifford Swan Investment Counsel LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Clifford Swan Investment Counsel LLC reported 308 stock positions worth $2.7 billion. Its top holding was Apple (AAPL) at 5.7% of the portfolio, followed by Microsoft (MSFT, 4.3%) and Costco Wholesale (COST, 3.7%). Compared with Q4 2024, it opened 11 new positions, sold out of 7, added to 80 and reduced 124. The biggest buy was Berkshire Hathaway Class A (BRK.A, shares +89%) and the biggest sale Arista Networks (ANET, shares −5%).

Most Recent 13F
Q2 2026
Location
PASADENA, CA
CIK
0001034642
Portfolio Value
$2.7B (Q1 2025)
SEC Filing
0001034642-25-000002 ↗ filed May 6, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.7B Q1 2024 Q2 2024: $2.7B Q2 2024 Q3 2024: $2.8B Q3 2024 Q4 2024: $2.8B Q4 2024 Q1 2025: $2.7B $2.7B Q1 2025 Q2 2025: $2.8B Q2 2025 Q3 2025: $3.0B Q3 2025 Q4 2025: $3.0B Q4 2025 Q1 2026: $2.9B Q1 2026 Q2 2026: $3.1B Q2 2026

Holdings 308 stocks · $2.7B
AAPL Apple Inc. 5.66% 688,970 $153.0M Reduce -0.9%
MSFT Microsoft Corp. 4.26% 306,532 $115.1M Add +1.5%
COST Costco Wholesale Corp. 3.69% 105,540 $99.8M Reduce -2.1%
UPS United Parcel Service Class B 3.67% 903,094 $99.3M Add +2.7%
BRK.B Berkshire Hathaway Inc. Class B 3.43% 174,154 $92.8M Reduce -0.6%
GOOGL Alphabet Inc. Class A 2.45% 427,793 $66.2M Add +0.7%
CVX Chevron Corp. 2.00% 323,942 $54.2M Reduce -0.9%
ACN Accenture PLC Class A 1.98% 171,141 $53.4M Reduce -0.5%
LOW Lowe's Cos Inc. 1.78% 206,093 $48.1M Reduce -1.9%
JPM JPMorgan Chase & Co. 1.75% 192,450 $47.2M Reduce -2.6%
ANET Arista Networks Inc. 1.67% 581,546 $45.1M Reduce -5.3%
JNJ Johnson & Johnson 1.40% 228,134 $37.8M Reduce -4.8%
ORCL Oracle Corp. 1.40% 269,994 $37.7M Add +0.2%
XOM Exxon Mobil Corp. 1.37% 311,511 $37.0M Reduce -1.2%
TSCO Tractor Supply Company 1.37% 670,074 $36.9M Reduce -0.6%
FAST Fastenal Co. 1.30% 452,540 $35.1M Add +3.1%
WFC Wells Fargo & Co. 1.29% 487,312 $35.0M Reduce -7.2%
ALSN Allison Transmission Holding 1.27% 359,262 $34.4M Reduce -0.3%
AMZN Amazon.com Inc. 1.26% 178,830 $34.0M Reduce -0.4%
CTVA Corteva Inc. 1.20% 514,494 $32.4M Add +0.3%
ABBV Abbvie Inc. 1.19% 153,920 $32.2M Reduce -1.6%
AXP American Express Co. 1.15% 115,524 $31.1M Add +0.5%
SYK Stryker Corp. 1.13% 82,008 $30.5M Reduce -1.6%
UNH Unitedhealth Group Inc. 1.11% 57,518 $30.1M Add +15.0%
RTX RTX Corp. 1.07% 218,688 $29.0M Reduce -0.2%
EMR Emerson Electric Co. 1.05% 260,088 $28.5M Reduce -0.9%
ABT Abbott Laboratories 1.04% 212,084 $28.1M Reduce -0.8%
MCK McKesson Corp. 1.03% 41,241 $27.8M Reduce -1.2%
INTU Intuit Inc. 1.00% 43,867 $26.9M Add +0.1%
QCOM Qualcomm Inc. 0.99% 173,778 $26.7M Reduce -2.6%
PG The Procter & Gamble Co. 0.96% 151,576 $25.8M Reduce -0.2%
MCD McDonald's Corp. 0.94% 81,022 $25.3M Reduce -0.1%
GOOG Alphabet Inc. Class C 0.92% 159,726 $25.0M Add +0.0%
JCI Johnson Controls Internation 0.92% 310,948 $24.9M Reduce -0.3%
BMY Bristol-Myers Squibb Co. 0.90% 400,795 $24.4M Reduce -6.2%
LH Labcorp Holdings Inc. 0.88% 101,708 $23.7M Add +3.8%
GLD SPDR Gold Shares 0.87% 81,904 $23.6M Reduce -6.3%
CSCO Cisco Systems Inc. 0.87% 381,787 $23.6M Reduce -4.1%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.82% 531,616 $22.2M Add +16.7%
PEP Pepsico Inc. 0.78% 140,440 $21.1M Add +22.8%
HPQ HP Inc. 0.77% 751,411 $20.8M Reduce -0.5%
BKNG Booking Holdings Inc. 0.76% 4,476 $20.6M Add +0.4%
MDLZ Mondelez International Inc. Class A 0.75% 297,046 $20.2M Add +14.4%
DD Dupont DE Nemours Inc. 0.70% 255,069 $19.0M Reduce -3.0%
SYY Sysco Corp. 0.70% 250,439 $18.8M Add +16.3%
EW Edwards Lifesciences Corp. 0.68% 253,433 $18.4M Reduce -0.1%
META Meta Platforms Inc. Class A 0.66% 31,149 $18.0M Add +0.6%
SBUX Starbucks Corp. 0.65% 180,203 $17.7M Reduce -1.0%
KMX Carmax Inc. 0.63% 220,037 $17.1M Add +0.2%
A Agilent Technologies Inc. 0.62% 144,430 $16.9M Reduce -0.0%
PM Philip Morris International 0.61% 104,060 $16.5M Reduce -0.8%
PH Parker Hannifin Corp. 0.60% 26,662 $16.2M Reduce -0.1%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.57% 199,713 $15.5M Reduce -0.5%
INTC Intel Corp. 0.57% 678,395 $15.4M Reduce -17.2%
LMBS First Trust Low Duration Opp 0.56% 308,919 $15.2M Reduce -2.4%
PFE Pfizer Inc. 0.56% 596,744 $15.1M Reduce -0.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.54% 148,231 $14.6M Reduce -1.6%
HD Home Depot Inc. 0.54% 39,705 $14.6M Add +1.2%
ADP Automatic Data Processing 0.53% 46,698 $14.3M Reduce -0.6%
CL Colgate-Palmolive Co. 0.53% 151,665 $14.2M Reduce -1.6%
WMT Walmart Inc. 0.52% 160,014 $14.0M Reduce -0.5%
BRK.A Berkshire Hathaway Inc. Class A 0.50% 17 $13.6M Add +88.9%
UNP Union Pacific Corp. 0.50% 56,836 $13.4M Add +3.3%
NVO Novo-Nordisk A/S-Spons ADR 0.49% 189,672 $13.2M Reduce -0.4%
NKE Nike Inc. Class B 0.47% 198,976 $12.6M Add +2.0%
PYPL PayPal Holdings Inc. 0.46% 192,294 $12.5M Reduce -10.8%
KEYS Keysight Technologies Inc. 0.46% 82,807 $12.4M Add +0.1%
EBAY eBay Inc. 0.46% 183,021 $12.4M Reduce -5.2%
CAT Caterpillar Inc. 0.45% 37,254 $12.3M Reduce -0.2%
AMGN Amgen Inc. 0.44% 38,572 $12.0M Reduce -0.7%
HON Honeywell International Inc. 0.43% 55,182 $11.7M Reduce -0.2%
ENTG Entegris Inc. 0.37% 114,958 $10.1M Add +6.6%
NOC Northrop Grumman Corp. 0.37% 19,336 $9.9M Add +0.0%
VZ Verizon Communications Inc. 0.36% 212,101 $9.6M Reduce -8.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.35% 16,871 $9.4M Reduce -13.6%
FERG Ferguson Enterprises Inc. 0.35% 58,589 $9.4M Add +74.5%
HPE Hewlett Packard Enterprise 0.34% 604,258 $9.3M Reduce -16.3%
COP Conocophillips 0.34% 88,412 $9.3M Reduce -9.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.34% 37,275 $9.3M Reduce -7.8%
VOO Vanguard S&P 500 ETF 0.34% 17,820 $9.2M Add +6.5%
ALB Albemarle Corp. 0.34% 127,093 $9.2M Add +1.2%
IJR iShares Core S&P Small-Cap E 0.33% 85,893 $9.0M Add +3.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.32% 104,736 $8.8M Reduce -3.3%
NVS Novartis AG-Sponsored ADR 0.32% 78,529 $8.8M Reduce -3.7%
BA The Boeing Co. 0.30% 47,952 $8.2M Add +3.1%
ITW Illinois Tool Works 0.30% 32,669 $8.1M Reduce -3.4%
PSA Public Storage 0.29% 26,306 $7.9M No change
T AT&T Inc. 0.28% 272,473 $7.7M Reduce -1.0%
GS Goldman Sachs Group Inc. 0.28% 13,909 $7.6M Reduce -0.6%
XLK SS Technology Select Sector 0.28% 36,163 $7.5M Add +0.1%
MRK Merck & Co. Inc. 0.27% 81,666 $7.3M Reduce -0.8%
EXPD Expeditors Intl Wash Inc. 0.27% 60,355 $7.3M Add +58.3%
NVDA Nvidia Corp. 0.26% 65,769 $7.1M Add +2.6%
MMM 3M Co. 0.26% 48,359 $7.1M Reduce -15.1%
BP BP PLC-Spons ADR 0.25% 201,714 $6.8M Reduce -1.8%
J Jacobs Solutions Inc. 0.25% 56,132 $6.8M Reduce -0.7%
TXN Texas Instruments Inc. 0.23% 35,301 $6.3M Reduce -0.8%
CAG Conagra Brands Inc. 0.23% 232,968 $6.2M Add +8.3%
KO The Coca-Cola Co. 0.23% 85,586 $6.1M Add +0.5%
ENR Energizer Holdings Inc. 0.22% 203,006 $6.1M No change
GILD Gilead Sciences Inc. 0.22% 52,853 $5.9M Reduce -12.2%
CMI Cummins Inc. 0.22% 18,817 $5.9M No change
CARR Carrier Global Corp. 0.22% 91,890 $5.8M Add +0.8%
AON Aon PLC Class A 0.21% 14,405 $5.7M Add +6.0%
GE General Electric filed as GE AEROSPACE 0.21% 27,974 $5.6M Reduce -1.6%
LMT Lockheed Martin Corp. 0.21% 12,524 $5.6M Add +0.3%
GIS General Mills Inc. 0.20% 90,889 $5.4M Reduce -0.3%
TPR Tapestry Inc. 0.19% 71,752 $5.1M Reduce -18.2%
AKAM Akamai Technologies Inc. 0.19% 62,354 $5.0M Add +3.9%
VCSH Vanguard S/T Corp. Bond ETF 0.18% 60,714 $4.8M Reduce -6.5%
AVGO Broadcom Inc. 0.18% 28,560 $4.8M Reduce -1.8%
OTIS Otis Worldwide Corp. 0.17% 44,116 $4.6M Add +0.4%
EPC Edgewell Personal Care Co. 0.17% 145,477 $4.5M No change
OXY Occidental Petroleum Corp. 0.17% 91,780 $4.5M Reduce -1.3%
MO Altria Group Inc. 0.17% 74,751 $4.5M Reduce -0.5%
OKE Oneok Inc. 0.16% 43,459 $4.3M Reduce -1.9%
NEU Newmarket Corp. 0.16% 7,500 $4.2M No change
LLY Eli Lilly & Co. 0.16% 5,106 $4.2M Add +0.2%
TGT Target Corp. 0.16% 40,186 $4.2M Reduce -0.8%
WBD Warner Bros Discovery Inc. 0.15% 387,446 $4.2M Reduce -9.6%
TT Trane Technologies PLC 0.14% 11,298 $3.8M Reduce -0.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.14% 30,566 $3.7M Reduce -0.2%
POST Post Holdings Inc. filed as POST HLDGS INC 0.14% 31,586 $3.7M No change
WY Weyerhaeuser Co. 0.13% 123,120 $3.6M No change
IVV iShares Core S&P 500 ETF 0.13% 6,180 $3.5M Reduce -2.7%
SPGI S&P Global Inc. 0.11% 6,012 $3.1M Add +0.1%
CASY Casey's General Stores Inc. 0.11% 6,720 $2.9M Reduce -0.4%
DE Deere & Co. 0.10% 6,024 $2.8M Add +0.3%
IYW iShares Ustechnology ETF 0.10% 20,000 $2.8M No change
BRBR Bellring Brands Inc. 0.10% 37,453 $2.8M No change
CATH Global X S&P 500 Ca Val ETF 0.10% 40,530 $2.7M Reduce -1.2%
NEE Nextera Energy Inc. 0.10% 37,965 $2.7M Reduce -2.7%
VTI VG Morningstar TS MKT ETF-US 0.10% 9,579 $2.6M Add +4.2%
ALLE Allegion PLC 0.09% 18,934 $2.5M Add +13.8%
NUE Nucor Corp. 0.09% 20,167 $2.4M Reduce -0.8%
ETN Eaton Corp. PLC 0.08% 8,238 $2.2M Add +0.1%
ED Consolidated Edison Inc. 0.08% 20,050 $2.2M Reduce -1.0%
IJH iShares Core S&P Midcap ETF 0.08% 37,593 $2.2M Add +1.4%
DOW Dow Inc. 0.08% 62,753 $2.2M Add +5.9%
ESS Essex Property Trust Inc. 0.08% 7,136 $2.2M Reduce -6.0%
PSX Phillips 66 0.08% 17,452 $2.2M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.08% 49,185 $2.1M Reduce -1.5%
ECL Ecolab Inc. 0.07% 7,633 $1.9M Reduce -0.6%
BDX Becton Dickinson and Co. 0.07% 8,215 $1.9M Reduce -0.9%
VGT Vanguard Info Tech ETF 0.07% 3,441 $1.9M Add +2.5%
MRSH Marsh & McLennan Cos 0.07% 7,640 $1.9M Add +0.1%
EEM iShares MSCI Emerging Market 0.07% 41,750 $1.8M Reduce -1.7%
CLX Clorox Company 0.07% 12,070 $1.8M No change
GEV GE Vernova Inc. 0.07% 5,781 $1.8M Reduce -1.8%
WBA Walgreens Boots Alliance Inc. 0.06% 156,956 $1.8M Reduce -2.1%
VEA Vanguard Ftse Developed ETF 0.06% 34,004 $1.7M Add +3.4%
DXC DXC Technology Co. 0.06% 101,069 $1.7M Add +0.0%
NSC Norfolk Southern Corp. 0.06% 7,258 $1.7M No change
TSLA Tesla Inc. 0.06% 6,401 $1.7M Add +56.8%
V Visa Inc. Class A 0.06% 4,682 $1.6M Reduce -0.7%
PHYS Sprott Physical Gold Trust 0.06% 63,035 $1.5M No change
SCHW Schwab (charles) Corp. 0.06% 19,182 $1.5M Reduce -7.3%
SO The Southern Co. 0.05% 15,818 $1.5M Add +0.1%
IGM iShares Expanded Tech Sector 0.05% 15,000 $1.4M No change
MA Mastercard Inc. Class A 0.05% 2,466 $1.4M Reduce -1.4%
JWN Nordstrom Inc. 0.05% 55,192 $1.3M Reduce -1.6%
KD Kyndryl Holdings Inc. 0.05% 42,760 $1.3M Reduce -57.5%
HDV iShares Core High Dividend E 0.05% 10,823 $1.3M Add +2.9%
BN Brookfield Corp. 0.05% 24,805 $1.3M No change
VB Vanguard Most SM-Cap ETF-Usd 0.05% 5,756 $1.3M Add +0.0%
TOTL SS Doubleline TR Tact ETF 0.05% 31,675 $1.3M No change
LRCX Lam Research Corp. 0.05% 17,450 $1.3M No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.05% 1,272 $1.3M No change
GDX Vaneck Gold Miners ETF 0.04% 25,294 $1.2M Reduce -2.0%
CSX CSX Corp. 0.04% 38,107 $1.1M No change
CVBF CVB Financial Corp. 0.04% 57,420 $1.1M No change
SHEL Shell PLC-ADR 0.04% 14,369 $1.1M No change
KMB Kimberly-Clark Corp. 0.04% 7,368 $1.0M No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.04% 3,024 $1.0M Add +0.2%
PAYX Paychex Inc. 0.04% 6,675 $1.0M Add +0.1%
MDY State Street SPDR S&P Midcap 0.04% 1,870 $998K No change
SRE Sempra 0.04% 13,874 $990K Reduce -9.8%
ITOT iShares Core S&P Total U.S. 0.04% 7,856 $959K No change
VOD Vodafone Group PLC-SP ADR 0.03% 100,369 $940K Reduce -27.2%
IR Ingersoll-Rand Inc. 0.03% 10,776 $862K No change
O Realty Income Corp. 0.03% 14,261 $827K Reduce -6.9%
DFUS Dimensional US Eq MKT ETF 0.03% 13,637 $825K No change
WEC WEC Energy Group Inc. 0.03% 7,554 $823K No change
TSM Taiwan Semiconductor-SP ADR 0.03% 4,904 $814K Add +2.4%
ITB iShares U.S. Home Constructi 0.03% 8,427 $802K No change
IWB iShares Russell 1000 ETF 0.03% 2,573 $789K Add +10.1%
MKC McCormick & Co.-Non VTG SHRS 0.03% 9,000 $741K No change
QQQ Invesco QQQ Trust Series 1 0.03% 1,574 $738K Reduce -0.1%
CMCSA Comcast Corp. Class A 0.03% 19,392 $716K Reduce -0.1%
DUK Duke Energy Corp. 0.03% 5,834 $712K Reduce -2.6%
BX Blackstone Inc. 0.03% 5,007 $700K Reduce -0.8%
VNQ Vanguard Real Estate ETF 0.03% 7,556 $684K No change
DFAC Dimensional US Core Equity 2 0.02% 20,357 $672K No change
AMD Advanced Micro Devices 0.02% 6,418 $659K Add +0.2%
KHC The Kraft Heinz Co. 0.02% 21,623 $658K No change
ALL Allstate Corp. 0.02% 3,147 $652K Reduce -5.3%
NFLX Netflix Inc. 0.02% 694 $647K Reduce -12.4%
VGSH Vanguard Short-Term Treasury 0.02% 10,984 $645K New
SCHG Schwab US Large-Cap Growth 0.02% 25,272 $633K No change
EFA iShares MSCI Eafe ETF 0.02% 7,501 $613K Add +2.5%
RSP Invesco S&P 500 Equal Weight 0.02% 3,517 $609K Add +0.7%
EPD Enterprise Products Partners 0.02% 17,618 $601K Reduce -8.3%
ISRG Intuitive Surgical Inc. 0.02% 1,212 $600K Add +2.1%
RS Reliance Inc. 0.02% 2,000 $578K No change
IAU iShares Gold Trust 0.02% 9,773 $576K No change
K Kellanova 0.02% 6,950 $573K Reduce -5.4%
BABA Alibaba Group Holding-SP ADR 0.02% 4,255 $563K Add +0.1%
URI United Rentals Inc. 0.02% 881 $552K Add +0.2%
LUV Southwest Airlines Co. 0.02% 15,954 $536K No change
FCAL First Trust California Munic 0.02% 10,925 $530K New
PAI Western Asset Investment Gra 0.02% 40,951 $526K Reduce -26.8%
IJJ iShares S&P Mid-Cap 400 Valu 0.02% 4,363 $522K Reduce -2.4%
CMF iShares California Muni Bond 0.02% 9,260 $521K Add +32.1%
AMTM Amentum Holdings Inc. 0.02% 28,630 $521K Reduce -2.7%
MFC Manulife Financial Corp. 0.02% 16,404 $511K No change
ZBH Zimmer Biomet Holdings Inc. 0.02% 4,472 $506K No change
GPC Genuine Parts Co. 0.02% 4,000 $477K No change
VEU Vanguard Ftse All-World Ex-U 0.02% 7,775 $472K No change
LIN Linde PLC 0.02% 1,010 $470K No change
SOLV Solventum Corp. 0.02% 6,167 $469K Reduce -17.9%
EA Electronic Arts Inc. 0.02% 3,231 $467K No change
UL Unilever PLC 0.02% 7,649 $456K Add +0.3%
NTAP Netapp Inc. 0.02% 5,175 $455K No change
CTAS Cintas Corp. 0.02% 2,128 $437K Add +0.4%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.02% 1,027 $431K No change
IWM iShares Russell 2000 ETF 0.02% 2,151 $429K No change
MCO Moody's Corp. 0.02% 903 $421K Reduce -5.5%
CME Cme Group Inc. 0.02% 1,584 $420K No change
GEHC GE Healthcare Technology 0.02% 5,108 $412K Reduce -1.6%
VIG Vanguard Dividend Apprec ETF 0.02% 2,098 $407K No change
MAR Marriott International Class A 0.01% 1,702 $405K Add +0.3%
VWO Vanguard Ftse Emerging Marke 0.01% 8,956 $405K Reduce -38.5%
ANSS Ansys Inc. 0.01% 1,275 $404K No change
DBND Doubleline Oppor Cor BND-Usd 0.01% 8,600 $397K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.01% 5,016 $396K No change
MINT PIMCO Enhanced Short Maturit 0.01% 3,825 $385K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 5,334 $382K No change
USB US Bancorp 0.01% 8,850 $374K Add +0.2%
WELL Welltower Inc. 0.01% 2,406 $369K No change
ADBE Adobe Inc. 0.01% 945 $362K Reduce -3.1%
DFAX Dimensional World Ex US Core 0.01% 13,525 $354K No change
IYC iShares US Consumer Discreti 0.01% 4,000 $353K No change
DFUV Dimensional US Marketwide Va 0.01% 8,538 $352K No change
IYH iShares U.S. Healthcare ETF 0.01% 5,647 $344K No change
PPG PPG Industries Inc. 0.01% 3,114 $341K No change
DVY iShares Select Dividend ETF 0.01% 2,533 $340K No change
APA Apa Corp. 0.01% 15,996 $336K Reduce -58.1%
CPB The Campbell's Company 0.01% 8,370 $334K No change
GAP The Gap Inc. 0.01% 16,200 $334K Reduce -11.5%
EIX Edison International 0.01% 5,638 $332K Reduce -5.5%
PAA Plains All Amer Pipeline LP 0.01% 16,390 $328K No change
PCAR Paccar Inc. 0.01% 3,343 $326K No change
ENB Enbridge Inc. 0.01% 7,274 $322K No change
ROK Rockwell Automation Inc. 0.01% 1,244 $321K Reduce -29.6%
BIL SS SPDR BB 1-3M T-Bill ETF 0.01% 3,500 $321K Add +59.1%
CEG Constellation Energy 0.01% 1,592 $321K Reduce -10.1%
AEP American Electric Power 0.01% 2,900 $317K No change
IBIT iShares Bitcoin Trust ETF 0.01% 6,738 $315K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.01% 1,213 $314K Add +5.0%
MET Metlife Inc. 0.01% 3,809 $306K No change
RSG Republic Services Inc. 0.01% 1,257 $304K Reduce -4.1%
SDY SS SPDR S&P Dividend ETF 0.01% 2,235 $303K No change
SLV iShares Silver Trust 0.01% 9,727 $301K Reduce -18.7%
EXR Extra Space Storage Inc. 0.01% 2,027 $301K No change
MSI Motorola Solutions Inc. 0.01% 685 $300K No change
WM Waste Management Inc. 0.01% 1,270 $294K No change
MNST Monster Beverage Corp. 0.01% 5,014 $293K No change
SPSM SS SPDR P S&P 600 Small Cap 0.01% 7,025 $286K No change
BAM Brookfield Asset Mgmt-A 0.01% 5,750 $279K No change
FDX FedEx Corp. 0.01% 1,141 $278K Add +3.9%
AEE Ameren Corporation 0.01% 2,750 $276K No change
DFS Discover Financial Services 0.01% 1,615 $276K No change
CRM Salesforce Inc. 0.01% 1,025 $275K Add +1.2%
MTX Minerals Technologies Inc. 0.01% 4,297 $273K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.01% 2,973 $273K No change
PFO Flaherty & Crumrine P&I Opp 0.01% 29,500 $272K No change
ICLR Icon PLC 0.01% 1,520 $266K No change
ES Eversource Energy 0.01% 4,250 $264K No change
MDT Medtronic PLC 0.01% 2,884 $259K Reduce -26.2%
AME Ametek Inc. 0.01% 1,500 $258K Add +0.3%
BEN Franklin Templeton Inc. 0.01% 13,321 $256K Reduce -25.1%
AMP Ameriprise Financial Inc. 0.01% 524 $254K No change
TMO Thermo Fisher Scientific Inc. 0.01% 509 $253K Add +12.9%
KR Kroger Co. 0.01% 3,708 $251K No change
DTE DTE Energy Company 0.01% 1,800 $249K No change
WMB Williams Cos Inc. 0.01% 4,164 $249K No change
XLE SS Energy Select Sector 0.01% 2,650 $248K No change
SCHM Schwab US Mid Cap ETF 0.01% 9,445 $247K Add +0.1%
ET Energy Transfer LP 0.01% 13,263 $247K No change
PWZ Invesco California Amt-Free 0.01% 10,300 $246K New
FE Firstenergy Corp. 0.01% 6,037 $244K No change
YUM Yum! Brands Inc. 0.01% 1,512 $238K No change
CVS CVS Health Corp. 0.01% 3,461 $234K New
LHX L3HARRIS Technologies Inc. 0.01% 1,070 $224K Reduce -6.1%
SCHD Schwab US DVD Equity ETF 0.01% 7,823 $219K New
EXC Exelon Corp. 0.01% 4,726 $218K New
DFAT Dimensional US Target Value 0.01% 4,204 $216K No change
CI The Cigna Group 0.01% 648 $213K New
TRMB Trimble Inc. 0.01% 3,200 $210K No change
PNC PNC Financial Services Group 0.01% 1,190 $209K Add +0.8%
UBER Uber Technologies Inc. 0.01% 2,868 $209K New
BAX Baxter International Inc. 0.01% 5,980 $205K New
VLO Valero Energy Corp. 0.01% 1,538 $203K New
LPX Louisiana-Pacific Corp. 0.01% 2,184 $201K No change
JPC Nuveen Prefered & Income Opp 0.01% 21,424 $171K No change
F Ford Motor Co. filed as FORD MTR CO 0.00% 13,297 $133K Add +1.1%
TG Tredegar Corp. 0.00% 16,000 $123K No change
BOF Branchout Food Inc. 0.00% 30,000 $74K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $496K (not counted above)
SecurityClassShares / PrincipalValueChange
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 17,924$496KReduce -3.7%

Total filed on the 13F, all lines: $2.7B.

Portfolio Sells Q4 2024 → Q1 2025
ANET Arista Networks Inc. Reduce -5.3% 1.67% −0.77
AAPL Apple Inc. Reduce -0.9% 5.66% −0.60
HPE Hewlett Packard Enterprise Reduce -16.3% 0.34% −0.21
ACN Accenture PLC Class A Reduce -0.5% 1.98% −0.20
PYPL PayPal Holdings Inc. Reduce -10.8% 0.46% −0.20
AMZN Amazon.com Inc. Reduce -0.4% 1.26% −0.16
ALSN Allison Transmission Holding Reduce -0.3% 1.27% −0.13
HPQ HP Inc. Reduce -0.5% 0.77% −0.12
EMR Emerson Electric Co. Reduce -0.9% 1.05% −0.12
NVO Novo-Nordisk A/S-Spons ADR Reduce -0.4% 0.49% −0.10
LOW Lowe's Cos Inc. Reduce -1.9% 1.78% −0.09
KD Kyndryl Holdings Inc. Reduce -57.5% 0.05% −0.08
A Agilent Technologies Inc. Reduce -0.0% 0.62% −0.07
AVGO Broadcom Inc. Reduce -1.8% 0.18% −0.07
DIS The Walt Disney Co. Reduce -1.6% 0.54% −0.06
SPY SS SPDR S&P 500 ETF Trust-US Reduce -13.6% 0.35% −0.06
TGT Target Corp. Reduce -0.8% 0.16% −0.04
IFF Intl Flavors & Fragrances Reduce -0.5% 0.57% −0.04
CAT Caterpillar Inc. Reduce -0.2% 0.45% −0.03
WFC Wells Fargo & Co. Reduce -7.2% 1.29% −0.03
MRK Merck & Co. Inc. Reduce -0.8% 0.27% −0.02
INTC Intel Corp. Reduce -17.2% 0.57% −0.02
J Jacobs Solutions Inc. Reduce -0.7% 0.25% −0.02
APA Apa Corp. Reduce -58.1% 0.01% −0.02
TPR Tapestry Inc. Reduce -18.2% 0.19% −0.02
DD Dupont DE Nemours Inc. Reduce -3.0% 0.70% −0.02
HON Honeywell International Inc. Reduce -0.2% 0.43% −0.02
PFE Pfizer Inc. Reduce -0.8% 0.56% −0.01
VTRS Viatris Inc. Sold out 0.00% −0.01
NBR Nabors Industries Ltd. Sold out 0.00% −0.01
SRE Sempra Reduce -9.8% 0.04% −0.01
PH Parker Hannifin Corp. Reduce -0.1% 0.60% −0.01
BSV Vanguard Short-Term Bond ETF Sold out 0.00% −0.01
TT Trane Technologies PLC Reduce -0.5% 0.14% −0.01
WBD Warner Bros Discovery Inc. Reduce -9.6% 0.15% −0.01
ITW Illinois Tool Works Reduce -3.4% 0.30% −0.01
VCIT Vanguard Int-Term Corporate Sold out 0.00% −0.01
TOL Toll Brothers Inc. Sold out 0.00% −0.01
GIS General Mills Inc. Reduce -0.3% 0.20% −0.01
VWO Vanguard Ftse Emerging Marke Reduce -38.5% 0.01% −0.01
VOOG Vanguard S&P 500 Growth ETF Sold out 0.00% −0.01
DHR Danaher Corp. Sold out 0.00% −0.01
GS Goldman Sachs Group Inc. Reduce -0.6% 0.28% −0.01
VOD Vodafone Group PLC-SP ADR Reduce -27.2% 0.03% −0.01
ROK Rockwell Automation Inc. Reduce -29.6% 0.01% −0.01
IVV iShares Core S&P 500 ETF Reduce -2.7% 0.13% −0.01
PAI Western Asset Investment Gra Reduce -26.8% 0.02% −0.01
COP Conocophillips Reduce -9.6% 0.34% −0.01
TXN Texas Instruments Inc. Reduce -0.8% 0.23% −0.01
BX Blackstone Inc. Reduce -0.8% 0.03% −0.01

Portfolio Buys Q4 2024 → Q1 2025
BRK.A Berkshire Hathaway Inc. Class A Add +88.9% 0.50% +0.28
UNH Unitedhealth Group Inc. Add +15.0% 1.11% +0.20
SLB SLB Ltd. Add +16.7% 0.82% +0.19
MDLZ Mondelez International Inc. Class A Add +14.4% 0.75% +0.19
FAST Fastenal Co. Add +3.1% 1.30% +0.16
PEP Pepsico Inc. Add +22.8% 0.78% +0.15
CTVA Corteva Inc. Add +0.3% 1.20% +0.15
FERG Ferguson Enterprises Inc. Add +74.5% 0.35% +0.14
EXPD Expeditors Intl Wash Inc. Add +58.3% 0.27% +0.12
SYY Sysco Corp. Add +16.3% 0.70% +0.10
LH Labcorp Holdings Inc. Add +3.8% 0.88% +0.07
UNP Union Pacific Corp. Add +3.3% 0.50% +0.05
NOC Northrop Grumman Corp. Add +0.0% 0.37% +0.04
AON Aon PLC Class A Add +6.0% 0.21% +0.04
KO The Coca-Cola Co. Add +0.5% 0.23% +0.04
VGSH Vanguard Short-Term Treasury New 0.02% +0.02
OTIS Otis Worldwide Corp. Add +0.4% 0.17% +0.02
FCAL First Trust California Munic New 0.02% +0.02
CAG Conagra Brands Inc. Add +8.3% 0.23% +0.02
LLY Eli Lilly & Co. Add +0.2% 0.16% +0.01
VOO Vanguard S&P 500 ETF Add +6.5% 0.34% +0.01
ALLE Allegion PLC Add +13.8% 0.09% +0.01
DE Deere & Co. Add +0.3% 0.10% +0.01
IBIT iShares Bitcoin Trust ETF New 0.01% +0.01
META Meta Platforms Inc. Class A Add +0.6% 0.66% +0.01
MRSH Marsh & McLennan Cos Add +0.1% 0.07% +0.01
PWZ Invesco California Amt-Free New 0.01% +0.01
CVS CVS Health Corp. New 0.01% +0.01
EXC Exelon Corp. New 0.01% +0.01
SCHD Schwab US DVD Equity ETF New 0.01% +0.01
CI The Cigna Group New 0.01% +0.01
BABA Alibaba Group Holding-SP ADR Add +0.1% 0.02% +0.01
AJG Arthur J Gallagher & Co. Add +0.2% 0.04% +0.01
UBER Uber Technologies Inc. New 0.01% +0.01
BAX Baxter International Inc. New 0.01% +0.01
VLO Valero Energy Corp. New 0.01% +0.01
VEA Vanguard Ftse Developed ETF Add +3.4% 0.06% +0.01
SO The Southern Co. Add +0.1% 0.05% +0.01
BA The Boeing Co. Add +3.1% 0.30% +0.01
HDV iShares Core High Dividend E Add +2.9% 0.05% +0.01
SPGI S&P Global Inc. Add +0.1% 0.11% +0.01
CMF iShares California Muni Bond Add +32.1% 0.02% +0.00
INTU Intuit Inc. Add +0.1% 1.00% +0.00
BIL SS SPDR BB 1-3M T-Bill ETF Add +59.1% 0.01% +0.00
PAYX Paychex Inc. Add +0.1% 0.04% +0.00
EFA iShares MSCI Eafe ETF Add +2.5% 0.02% +0.00
CTAS Cintas Corp. Add +0.4% 0.02% +0.00
IWB iShares Russell 1000 ETF Add +10.1% 0.03% +0.00
TSLA Tesla Inc. Add +56.8% 0.06% +0.00
VTI VG Morningstar TS MKT ETF-US Add +4.2% 0.10% +0.00

Notes & Other Activity Q4 2024 → Q1 2025
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Reduce -3.7% 17,924 $496K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 335$3.1BAAPL, GOOGL, MSFT, UPS, COST
Q1 2026 332$2.9BAAPL, GOOGL, MSFT, COST, UPS
Q4 2025 323$3.0BAAPL, MSFT, GOOGL, UPS, COST
Q3 2025 322$3.0BAAPL, MSFT, GOOGL, COST, BRK.B
Q2 2025 312$2.8BMSFT, AAPL, COST, UPS, BRK.B
Q1 2025 308$2.7BAAPL, MSFT, COST, UPS, BRK.B
Q4 2024 304$2.8BAAPL, MSFT, UPS, COST, GOOGL
Q3 2024 311$2.8BAAPL, MSFT, UPS, COST, BRK.B
Q2 2024 302$2.7BAAPL, MSFT, UPS, COST, GOOGL
Q1 2024 306$2.7BMSFT, UPS, AAPL, COST, BRK.B