D L Carlson Investment Group Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), D L Carlson Investment Group Inc. reported 136 stock positions worth $520.4 million. Its top holding was Schwab US Broad Market ETF (SCHB) at 11.4% of the portfolio, followed by iShares Intermediate Governm (GVI, 7.3%) and Apple (AAPL, 4.0%). Compared with Q4 2024, it opened 8 new positions, sold out of 19, added to 20 and reduced 104. The biggest buy was a new position in Avantis International Equity (AVDE) and the biggest sale an exit from iShares MSCI Eafe ETF (EFA).

Most Recent 13F
Q2 2026
Location
CONCORD, NH
CIK
0001021117
Portfolio Value
$520.4M (Q1 2025)
SEC Filing
0001021117-25-000002 ↗ filed May 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $512.1M Q1 2024 Q2 2024: $518.1M Q2 2024 Q3 2024: $552.5M Q3 2024 Q4 2024: $561.1M Q4 2024 Q1 2025: $520.4M $520.4M Q1 2025 Q2 2025: $548.6M Q2 2025 Q3 2025: $595.8M Q3 2025 Q4 2025: $592.8M Q4 2025 Q1 2026: $581.8M Q1 2026 Q2 2026: $628.1M Q2 2026

Holdings 136 stocks · $520.4M
SCHB Schwab US Broad Market ETF 11.43% 2,763,501 $59.5M Add +0.7%
GVI iShares Intermediate Governm 7.32% 359,046 $38.1M Reduce -2.1%
AAPL Apple Inc. 3.97% 93,068 $20.7M Reduce -9.2%
MSFT Microsoft Corp. 3.78% 52,422 $19.7M Reduce -4.3%
GOOGL Alphabet Inc. Class A 2.78% 93,398 $14.4M Reduce -5.1%
AMZN Amazon.com Inc. 2.73% 74,578 $14.2M Reduce -6.2%
NVDA Nvidia Corp. 2.42% 115,964 $12.6M Reduce -11.1%
IGSB iShares 1-5Y Inv Grade Corp. 2.38% 236,342 $12.4M Add +0.2%
AVDE Avantis International Equity 2.08% 163,328 $10.8M New
XLE SS Energy Select Sector 2.01% 111,726 $10.4M Reduce -5.0%
JPM JPMorgan Chase & Co. 1.76% 37,439 $9.2M Reduce -4.6%
META Meta Platforms Inc. Class A 1.60% 14,419 $8.3M Reduce -2.6%
FISV Fiserv Inc. 1.44% 33,943 $7.5M Reduce -2.9%
ISRG Intuitive Surgical Inc. 1.42% 14,938 $7.4M Reduce -3.1%
BRK.B Berkshire Hathaway Inc. Class B 1.38% 13,521 $7.2M Reduce -7.5%
RTX RTX Corp. 1.34% 52,455 $6.9M Add +5.7%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 1.29% 131,551 $6.7M Reduce -9.4%
IGIB iShares 5-10Y Inv Grade Corp. 1.17% 115,829 $6.1M Reduce -4.6%
PG The Procter & Gamble Co. 1.14% 34,717 $5.9M Reduce -1.5%
BABA Alibaba Group Holding-SP ADR 1.14% 44,706 $5.9M Reduce -5.6%
IAU iShares Gold Trust 1.08% 95,396 $5.6M Add +12.5%
JNJ Johnson & Johnson 1.05% 32,836 $5.4M Reduce -6.0%
TXN Texas Instruments Inc. 1.02% 29,491 $5.3M Add +16.9%
GE General Electric filed as GE AEROSPACE 0.99% 25,773 $5.2M Reduce -5.7%
NFLX Netflix Inc. 0.99% 5,513 $5.1M Reduce -8.7%
HPE Hewlett Packard Enterprise 0.97% 326,098 $5.0M Reduce -4.9%
WELL Welltower Inc. 0.96% 32,733 $5.0M Reduce -4.0%
XOM Exxon Mobil Corp. 0.91% 39,632 $4.7M Reduce -4.6%
BRO Brown & Brown Inc. 0.90% 37,468 $4.7M Reduce -6.5%
KTOS Kratos Defense & Security 0.86% 149,949 $4.5M Reduce -2.3%
GEV GE Vernova Inc. 0.84% 14,304 $4.4M Reduce -18.4%
UNH Unitedhealth Group Inc. 0.83% 8,265 $4.3M Reduce -4.9%
CRM Salesforce Inc. 0.83% 15,999 $4.3M Reduce -2.1%
MUB iShares National Muni Bond E 0.75% 37,225 $3.9M Add +2.8%
BA The Boeing Co. 0.75% 22,878 $3.9M Reduce -2.9%
STIP iShares 0-5 Year Tips Bond E 0.73% 36,510 $3.8M Add +1018.2%
AGG iShares Core U.S. Aggregate 0.72% 38,071 $3.8M Reduce -4.0%
SYK Stryker Corp. 0.72% 10,036 $3.7M Reduce -5.5%
HD Home Depot Inc. 0.71% 10,143 $3.7M Reduce -3.5%
ACI Albertsons Cos Inc. Class A 0.71% 166,872 $3.7M New
HON Honeywell International Inc. 0.71% 17,329 $3.7M Reduce -4.0%
AVEM Avantis Emerging Markets Eq 0.70% 60,783 $3.7M New
CTSH Cognizant Tech Solutions-A 0.68% 46,280 $3.5M Add +7.4%
POST Post Holdings Inc. filed as POST HLDGS INC 0.68% 30,409 $3.5M Reduce -12.8%
TW Tradeweb Markets Inc. Class A 0.67% 23,607 $3.5M Reduce -0.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.64% 39,987 $3.4M Reduce -1.0%
WING Wingstop Inc. 0.64% 14,860 $3.4M Add +64.0%
AMGN Amgen Inc. 0.63% 10,457 $3.3M Reduce -4.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.62% 5,812 $3.3M Reduce -19.1%
WFC Wells Fargo & Co. 0.61% 44,219 $3.2M Reduce -1.9%
RDDT Reddit Inc. Class A 0.61% 30,206 $3.2M Reduce -47.7%
IEI iShares 3-7 Year Treasury Bo 0.59% 25,993 $3.1M Reduce -4.9%
ZG Zillow Group Inc. Class A 0.59% 45,644 $3.1M New
BX Blackstone Inc. 0.57% 21,385 $3.0M Reduce -18.3%
PWR Quanta Services Inc. 0.57% 11,634 $3.0M Reduce -2.6%
SCHW Schwab (charles) Corp. 0.54% 36,064 $2.8M Reduce -0.9%
CI The Cigna Group 0.52% 8,267 $2.7M Reduce -2.0%
ICE Intercontinental Exchange Inc. 0.52% 15,755 $2.7M Reduce -2.9%
TSN Tyson Foods Inc. Class A 0.52% 42,533 $2.7M Reduce -11.4%
XLK SS Technology Select Sector 0.51% 12,793 $2.6M Add +277.7%
PFF iShares Preferred & Income S 0.50% 84,618 $2.6M Reduce -52.8%
BAB Invesco Taxable Municipal Bo 0.50% 97,133 $2.6M Reduce -1.7%
MS Morgan Stanley 0.48% 21,464 $2.5M Reduce -4.4%
EQT Eqt Corp. 0.46% 44,788 $2.4M Reduce -51.8%
LLY Eli Lilly & Co. 0.46% 2,878 $2.4M Reduce -8.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.45% 29,843 $2.4M Reduce -3.9%
MBB iShares MBS ETF 0.44% 24,675 $2.3M Reduce -0.1%
JPST JPMorgan Ultra-Short Income 0.43% 44,615 $2.3M Add +26.8%
FALN iShares Fallen Angels ETF 0.43% 82,938 $2.2M Reduce -3.3%
FCX Freeport-McMoran Inc. 0.42% 57,546 $2.2M Reduce -5.2%
LIN Linde PLC 0.41% 4,580 $2.1M New
SO The Southern Co. 0.40% 22,754 $2.1M Reduce -2.6%
CAT Caterpillar Inc. 0.39% 6,205 $2.0M Reduce -11.3%
TRNO Terreno Realty Corp. 0.39% 31,770 $2.0M Reduce -0.8%
JLL Jones Lang Lasalle Inc. 0.39% 8,093 $2.0M Reduce -0.9%
GS Goldman Sachs Group Inc. 0.38% 3,659 $2.0M Reduce -27.6%
SHY iShares 1-3 Year Treasury Bo 0.38% 24,134 $2.0M Reduce -5.0%
ORCL Oracle Corp. 0.37% 13,809 $1.9M Reduce -3.5%
PFE Pfizer Inc. 0.37% 75,388 $1.9M Reduce -4.1%
IR Ingersoll-Rand Inc. 0.36% 23,514 $1.9M Reduce -46.4%
SHYG iShares 0-5 YR HY Corp. Bond 0.35% 42,523 $1.8M Add +0.8%
CNP Centerpoint Energy Inc. 0.34% 49,468 $1.8M Reduce -0.4%
XLB SS Materials Select Sector 0.30% 18,346 $1.6M Reduce -3.0%
BMY Bristol-Myers Squibb Co. 0.29% 24,763 $1.5M New
IGLB iShares 10+ Year Inv GR Corp. 0.28% 29,275 $1.5M Reduce -19.3%
GLD SPDR Gold Shares 0.28% 5,077 $1.5M Reduce -0.8%
IWM iShares Russell 2000 ETF 0.27% 6,957 $1.4M Reduce -14.2%
XLF SS Financial Select Sector 0.26% 27,019 $1.3M Reduce -1.6%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.26% 17,067 $1.3M New
FLOT iShares Floating Rate Bond E 0.23% 23,256 $1.2M Add +259.1%
OXY Occidental Petroleum Corp. 0.23% 23,948 $1.2M Reduce -2.5%
CL Colgate-Palmolive Co. 0.23% 12,576 $1.2M Reduce -66.3%
AMD Advanced Micro Devices 0.19% 9,663 $993K Reduce -13.1%
IYJ iShares U.S. Industrials ETF 0.19% 7,569 $985K Reduce -10.8%
XLP SS Consumer Staples Sel Sect 0.18% 11,433 $934K Reduce -18.9%
GOOG Alphabet Inc. Class C 0.17% 5,617 $878K Reduce -8.2%
ADBE Adobe Inc. 0.16% 2,112 $810K Reduce -16.9%
AMAT Applied Materials Inc. 0.15% 5,310 $771K Reduce -6.0%
RSP Invesco S&P 500 Equal Weight 0.14% 4,264 $739K Reduce -10.6%
MCD McDonald's Corp. 0.14% 2,361 $738K Reduce -0.3%

Show all 136 holdings

Portfolio Sells Q4 2024 → Q1 2025
EFA iShares MSCI Eafe ETF Sold out 0.00% −1.61
PLTR Palantir Technologies Inc. Class A Sold out 0.00% −1.54
RDDT Reddit Inc. Class A Reduce -47.7% 0.61% −1.07
NVDA Nvidia Corp. Reduce -11.1% 2.42% −0.71
AAPL Apple Inc. Reduce -9.2% 3.97% −0.60
IEMG iShares Core MSCI Emerging Sold out 0.00% −0.58
GOOGL Alphabet Inc. Class A Reduce -5.1% 2.78% −0.54
PFF iShares Preferred & Income S Reduce -52.8% 0.50% −0.50
AMZN Amazon.com Inc. Reduce -6.2% 2.73% −0.38
CL Colgate-Palmolive Co. Reduce -66.3% 0.23% −0.38
AMCR Amcor PLC Sold out 0.00% −0.36
IR Ingersoll-Rand Inc. Reduce -46.4% 0.36% −0.35
HPE Hewlett Packard Enterprise Reduce -4.9% 0.97% −0.34
MSFT Microsoft Corp. Reduce -4.3% 3.78% −0.33
EQT Eqt Corp. Reduce -51.8% 0.46% −0.30
ON On Semiconductor Sold out 0.00% −0.24
BX Blackstone Inc. Reduce -18.3% 0.57% −0.23
LIVN Livanova PLC Sold out 0.00% −0.19
GEV GE Vernova Inc. Reduce -18.4% 0.84% −0.19
ILMN Illumina Inc. Sold out 0.00% −0.16
CRM Salesforce Inc. Reduce -2.1% 0.83% −0.15
GS Goldman Sachs Group Inc. Reduce -27.6% 0.38% −0.13
XLRE SS Real Estate Select Sector Sold out 0.00% −0.13
SPY SS SPDR S&P 500 ETF Trust-US Reduce -19.1% 0.62% −0.13
DIA SS SPDR Dow Jones Indus Avg Sold out 0.00% −0.12
HRTG Heritage Insurance Holdings Sold out 0.00% −0.11
PWR Quanta Services Inc. Reduce -2.6% 0.57% −0.10
CAT Caterpillar Inc. Reduce -11.3% 0.39% −0.06
ORCL Oracle Corp. Reduce -3.5% 0.37% −0.05
IWM iShares Russell 2000 ETF Reduce -14.2% 0.27% −0.05
AMD Advanced Micro Devices Reduce -13.1% 0.19% −0.05
WM Waste Management Inc. Sold out 0.00% −0.05
AVGO Broadcom Inc. Sold out 0.00% −0.05
ADBE Adobe Inc. Reduce -16.9% 0.16% −0.05
NVO Novo-Nordisk A/S-Spons ADR Sold out 0.00% −0.04
GBCI Glacier Bancorp Inc. Sold out 0.00% −0.04
GOOG Alphabet Inc. Class C Reduce -8.2% 0.17% −0.04
IGLB iShares 10+ Year Inv GR Corp. Reduce -19.3% 0.28% −0.04
MDY State Street SPDR S&P Midcap Sold out 0.00% −0.04
URI United Rentals Inc. Sold out 0.00% −0.04
VB Vanguard Most SM-Cap ETF-Usd Sold out 0.00% −0.04
POST Post Holdings Inc. Reduce -12.8% 0.68% −0.03
ACN Accenture PLC Class A Reduce -16.9% 0.12% −0.03
JMST JPM Ultra-Short Muni Income Reduce -9.4% 1.29% −0.03
TGT Target Corp. Reduce -19.4% 0.05% −0.03
MS Morgan Stanley Reduce -4.4% 0.48% −0.02
HON Honeywell International Inc. Reduce -4.0% 0.71% −0.02
XLP SS Consumer Staples Sel Sect Reduce -18.9% 0.18% −0.02
RGEN Repligen Corp. Reduce -7.4% 0.13% −0.02
AMAT Applied Materials Inc. Reduce -6.0% 0.15% −0.02

Portfolio Buys Q4 2024 → Q1 2025
AVDE Avantis International Equity New 2.08% +2.08
ACI Albertsons Cos Inc. Class A New 0.71% +0.71
AVEM Avantis Emerging Markets Eq New 0.70% +0.70
STIP iShares 0-5 Year Tips Bond E Add +1018.2% 0.73% +0.67
ZG Zillow Group Inc. Class A New 0.59% +0.59
LIN Linde PLC New 0.41% +0.41
XLK SS Technology Select Sector Add +277.7% 0.51% +0.37
IAU iShares Gold Trust Add +12.5% 1.08% +0.33
SCHB Schwab US Broad Market ETF Add +0.7% 11.43% +0.33
RTX RTX Corp. Add +5.7% 1.34% +0.31
BMY Bristol-Myers Squibb Co. New 0.29% +0.29
CF CF Industries Holdings Inc. New 0.26% +0.26
IGSB iShares 1-5Y Inv Grade Corp. Add +0.2% 2.38% +0.21
WING Wingstop Inc. Add +64.0% 0.64% +0.19
TXN Texas Instruments Inc. Add +16.9% 1.02% +0.18
FLOT iShares Floating Rate Bond E Add +259.1% 0.23% +0.17
JPST JPMorgan Ultra-Short Income Add +26.8% 0.43% +0.12
ILOW AB Internal Low Volat Eq ETF New 0.10% +0.10
CTSH Cognizant Tech Solutions-A Add +7.4% 0.68% +0.09
MUB iShares National Muni Bond E Add +2.8% 0.75% +0.07
IEF iShares 7-10 Year Treasury B Add +43.8% 0.09% +0.04
SHYG iShares 0-5 YR HY Corp. Bond Add +0.8% 0.35% +0.03
NEE Nextera Energy Inc. Add +5.8% 0.11% +0.01
IVV iShares Core S&P 500 ETF Add +4.8% 0.14% +0.01
SCHK Schwab 1000 Index ETF Add +0.3% 0.09% +0.00
IJR iShares Core S&P Small-Cap E Add +6.2% 0.05% +0.00
QQQ Invesco QQQ Trust Series 1 Add +2.6% 0.12% +0.00
VTI VG Morningstar TS MKT ETF-US Add +0.4% 0.05% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 133$628.1MSCHB, GVI, GOOGL, AAPL, AVDE
Q1 2026 135$581.8MSCHB, GVI, AAPL, AVDE, GOOGL
Q4 2025 135$592.8MSCHB, GVI, GOOGL, MSFT, AAPL
Q3 2025 138$595.8MSCHB, GVI, MSFT, AAPL, GOOGL
Q2 2025 130$548.6MSCHB, GVI, MSFT, AAPL, NVDA
Q1 2025 136$520.4MSCHB, GVI, AAPL, MSFT, GOOGL
Q4 2024 147$561.1MSCHB, GVI, AAPL, MSFT, GOOGL
Q3 2024 145$552.5MSCHB, GVI, AAPL, MSFT, GOOGL
Q2 2024 137$518.1MSCHB, GVI, MSFT, AAPL, GOOGL
Q1 2024 139$512.1MSCHB, GVI, MSFT, AAPL, GOOGL