D L Carlson Investment Group Inc.

Name: D L CARLSON INVESTMENT GROUP INC 13F holdings, Q2 2025
Creator: D L CARLSON INVESTMENT GROUP INC
Published: 2025-08-13

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), D L Carlson Investment Group Inc. reported 130 stock positions worth $548.6 million. Its top holding was Schwab US Broad Market ETF (SCHB) at 11.4% of the portfolio, followed by iShares Intermediate Governm (GVI, 7.8%) and Microsoft (MSFT, 4.5%). Compared with Q1 2025, it opened 7 new positions, sold out of 13, added to 29 and reduced 92. The biggest buy was a new position in Broadcom (AVGO) and the biggest sale an exit from JPM Ultra-Short Muni Income (JMST).

Most Recent 13F: Q2 2026
Location: CONCORD, NH
CIK: 0001021117
Portfolio Value: $548.6M (Q2 2025)
SEC Filing: 0001021117-25-000003 ↗ filed Aug 13, 2025

Holdings Value

Holdings 130 stocks · $548.6M


SCHB Schwab US Broad Market ETF	11.37%	2,616,852	$62.4M	Reduce -5.3%
GVI iShares Intermediate Governm	7.81%	401,424	$42.9M	Add +11.8%
MSFT Microsoft Corp.	4.51%	49,782	$24.8M	Reduce -5.0%
AAPL Apple Inc.	3.37%	90,184	$18.5M	Reduce -3.1%
NVDA Nvidia Corp.	3.33%	115,629	$18.3M	Reduce -0.3%
IGSB iShares 1-5Y Inv Grade Corp.	3.03%	314,613	$16.6M	Add +33.1%
GOOGL Alphabet Inc. Class A	2.91%	90,563	$16.0M	Reduce -3.0%
AMZN Amazon.com Inc.	2.89%	72,245	$15.8M	Reduce -3.1%
AVDE Avantis International Equity	2.39%	176,984	$13.1M	Add +8.4%
META Meta Platforms Inc. Class A	1.89%	14,067	$10.4M	Reduce -2.4%
JPM JPMorgan Chase & Co.	1.88%	35,594	$10.3M	Reduce -4.9%
IGIB iShares 5-10Y Inv Grade Corp.	1.87%	192,752	$10.3M	Add +66.4%
MUB iShares National Muni Bond E	1.65%	86,701	$9.1M	Add +132.9%
RTX RTX Corp.	1.48%	55,601	$8.1M	Add +6.0%
ISRG Intuitive Surgical Inc.	1.38%	13,979	$7.6M	Reduce -6.4%
KTOS Kratos Defense & Security	1.37%	162,046	$7.5M	Add +8.1%
XLE SS Energy Select Sector	1.33%	86,197	$7.3M	Reduce -22.9%
GEV GE Vernova Inc.	1.30%	13,512	$7.1M	Reduce -5.5%
HPE Hewlett Packard Enterprise	1.18%	317,811	$6.5M	Reduce -2.5%
BRK.B Berkshire Hathaway Inc. Class B	1.15%	12,956	$6.3M	Reduce -4.2%
AVGO Broadcom Inc.	1.11%	22,004	$6.1M	New
TXN Texas Instruments Inc.	1.10%	29,177	$6.1M	Reduce -1.1%
FISV Fiserv Inc.	1.06%	33,611	$5.8M	Reduce -1.0%
PG The Procter & Gamble Co.	1.00%	34,498	$5.5M	Reduce -0.6%
IAU iShares Gold Trust	1.00%	87,598	$5.5M	Reduce -8.2%
AGG iShares Core U.S. Aggregate	1.00%	55,059	$5.5M	Add +44.6%
NFLX Netflix Inc.	0.98%	4,015	$5.4M	Reduce -27.2%
WING Wingstop Inc.	0.92%	14,957	$5.0M	Add +0.7%
BABA Alibaba Group Holding-SP ADR	0.91%	43,941	$5.0M	Reduce -1.7%
JNJ Johnson & Johnson	0.89%	31,933	$4.9M	Reduce -2.8%
WELL Welltower Inc.	0.86%	30,685	$4.7M	Reduce -6.3%
AVEM Avantis Emerging Markets Eq	0.86%	68,793	$4.7M	Add +13.2%
PWR Quanta Services Inc.	0.79%	11,432	$4.3M	Reduce -1.7%
CRM Salesforce Inc.	0.78%	15,633	$4.3M	Reduce -2.3%
GE General Electric filed as GE AEROSPACE	0.78%	16,538	$4.3M	Reduce -35.8%
SYK Stryker Corp.	0.72%	9,918	$3.9M	Reduce -1.2%
TW Tradeweb Markets Inc. Class A	0.71%	26,507	$3.9M	Add +12.3%
XOM Exxon Mobil Corp.	0.71%	35,992	$3.9M	Reduce -9.2%
HD Home Depot Inc.	0.69%	10,353	$3.8M	Add +2.1%
SCHW Schwab (charles) Corp.	0.67%	40,370	$3.7M	Add +11.9%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.67%	40,249	$3.7M	Add +0.7%
CTSH Cognizant Tech Solutions-A	0.65%	45,872	$3.6M	Reduce -0.9%
ACI Albertsons Cos Inc. Class A	0.65%	165,559	$3.6M	Reduce -0.8%
HON Honeywell International Inc.	0.65%	15,210	$3.5M	Reduce -12.2%
QXO Qxo Inc.	0.65%	164,283	$3.5M	New
WFC Wells Fargo & Co.	0.64%	44,108	$3.5M	Reduce -0.3%
XLK SS Technology Select Sector	0.64%	13,839	$3.5M	Add +8.2%
ILOW AB Internal Low Volat Eq ETF filed as AB ACTIVE ETFS INC	0.61%	80,935	$3.4M	Add +453.4%
BX Blackstone Inc.	0.58%	21,250	$3.2M	Reduce -0.6%
POST Post Holdings Inc. filed as POST HLDGS INC	0.58%	29,046	$3.2M	Reduce -4.5%
ZG Zillow Group Inc. Class A	0.57%	45,434	$3.1M	Reduce -0.5%
ORCL Oracle Corp.	0.54%	13,482	$2.9M	Reduce -2.4%
AMGN Amgen Inc.	0.53%	10,388	$2.9M	Reduce -0.7%
ICE Intercontinental Exchange Inc.	0.53%	15,799	$2.9M	Add +0.3%
BRO Brown & Brown Inc.	0.50%	24,888	$2.8M	Reduce -33.6%
CI The Cigna Group	0.50%	8,291	$2.7M	Add +0.3%
SPY SS SPDR S&P 500 ETF Trust-US	0.49%	4,326	$2.7M	Reduce -25.6%
MS Morgan Stanley	0.48%	18,837	$2.7M	Reduce -12.2%
GS Goldman Sachs Group Inc.	0.46%	3,587	$2.5M	Reduce -2.0%
EQT Eqt Corp.	0.46%	43,372	$2.5M	Reduce -3.2%
BA The Boeing Co.	0.46%	11,988	$2.5M	Reduce -47.6%
JLL Jones Lang Lasalle Inc.	0.43%	9,299	$2.4M	Add +14.9%
IEI iShares 3-7 Year Treasury Bo	0.43%	19,876	$2.4M	Reduce -23.5%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.43%	28,965	$2.4M	Reduce -2.9%
SHY iShares 1-3 Year Treasury Bo	0.40%	26,526	$2.2M	Add +9.9%
SO The Southern Co.	0.40%	23,670	$2.2M	Add +4.0%
LIN Linde PLC	0.39%	4,608	$2.2M	Add +0.6%
TSN Tyson Foods Inc. Class A	0.39%	38,339	$2.1M	Reduce -9.9%
VFLO Victoryshares Free Cash Flow	0.39%	60,428	$2.1M	New
BMY Bristol-Myers Squibb Co.	0.37%	44,126	$2.0M	Add +78.2%
AGGM iShares 1-10 Year U.S. Aggre	0.36%	18,793	$2.0M	New
REG Regency Centers Corp.	0.36%	27,383	$2.0M	New
LLY Eli Lilly & Co.	0.35%	2,486	$1.9M	Reduce -13.6%
FALN iShares Fallen Angels ETF	0.34%	68,701	$1.9M	Reduce -17.2%
CNP Centerpoint Energy Inc.	0.33%	48,687	$1.8M	Reduce -1.6%
SHYG iShares 0-5 YR HY Corp. Bond	0.31%	39,793	$1.7M	Reduce -6.4%
IDXX Idexx Laboratories Inc.	0.31%	3,193	$1.7M	New
PFE Pfizer Inc.	0.31%	69,256	$1.7M	Reduce -8.1%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC	0.28%	16,762	$1.5M	Reduce -1.8%
GLD SPDR Gold Shares	0.28%	5,034	$1.5M	Reduce -0.8%
XLB SS Materials Select Sector	0.28%	17,378	$1.5M	Reduce -5.3%
BAB Invesco Taxable Municipal Bo	0.27%	56,559	$1.5M	Reduce -41.8%
IR Ingersoll-Rand Inc.	0.27%	17,979	$1.5M	Reduce -23.5%
MBB iShares MBS ETF	0.26%	14,979	$1.4M	Reduce -39.3%
XLF SS Financial Select Sector	0.25%	25,955	$1.4M	Reduce -3.9%
AMD Advanced Micro Devices	0.23%	8,732	$1.2M	Reduce -9.6%
PBF PBF Energy Inc. Class A	0.21%	52,866	$1.1M	New
IWM iShares Russell 2000 ETF	0.19%	4,827	$1.0M	Reduce -30.6%
IYJ iShares U.S. Industrials ETF	0.18%	7,055	$1.0M	Reduce -6.8%
CL Colgate-Palmolive Co.	0.17%	10,003	$909K	Reduce -20.5%
GOOG Alphabet Inc. Class C	0.16%	4,904	$870K	Reduce -12.7%
XLP SS Consumer Staples Sel Sect	0.16%	10,736	$869K	Reduce -6.1%
AMAT Applied Materials Inc.	0.15%	4,602	$843K	Reduce -13.3%
IVV iShares Core S&P 500 ETF	0.15%	1,326	$823K	Add +2.1%
ADBE Adobe Inc.	0.14%	1,952	$755K	Reduce -7.6%
QQQ Invesco QQQ Trust Series 1	0.13%	1,315	$725K	Reduce -0.7%
IGLB iShares 10+ Year Inv GR Corp.	0.13%	14,275	$717K	Reduce -51.2%
SCHZ Schwab US Aggregate Bond ETF	0.13%	30,489	$709K	Add +0.1%
RGEN Repligen Corp.	0.12%	5,127	$638K	Reduce -4.4%
IEF iShares 7-10 Year Treasury B	0.12%	6,658	$638K	Add +28.7%

Show all 130 holdings

Portfolio Sells Q1 2025 → Q2 2025


JMST JPM Ultra-Short Muni Income	Sold out	0.00%	−1.29
UNH Unitedhealth Group Inc.	Sold out	0.00%	−0.83
STIP iShares 0-5 Year Tips Bond E	Sold out	0.00%	−0.73
XLE SS Energy Select Sector	Reduce -22.9%	1.33%	−0.67
RDDT Reddit Inc. Class A	Sold out	0.00%	−0.61
AAPL Apple Inc.	Reduce -3.1%	3.37%	−0.60
PFF iShares Preferred & Income S	Sold out	0.00%	−0.50
FCX Freeport-McMoran Inc.	Sold out	0.00%	−0.42
CAT Caterpillar Inc.	Sold out	0.00%	−0.39
BRO Brown & Brown Inc.	Reduce -33.6%	0.50%	−0.39
TRNO Terreno Realty Corp.	Sold out	0.00%	−0.39
FISV Fiserv Inc.	Reduce -1.0%	1.06%	−0.38
JPST JPMorgan Ultra-Short Income	Reduce -79.1%	0.09%	−0.35
BA The Boeing Co.	Reduce -47.6%	0.46%	−0.29
BRK.B Berkshire Hathaway Inc. Class B	Reduce -4.2%	1.15%	−0.24
BABA Alibaba Group Holding-SP ADR	Reduce -1.7%	0.91%	−0.23
OXY Occidental Petroleum Corp.	Sold out	0.00%	−0.23
BAB Invesco Taxable Municipal Bo	Reduce -41.8%	0.27%	−0.22
GE General Electric	Reduce -35.8%	0.78%	−0.22
XOM Exxon Mobil Corp.	Reduce -9.2%	0.71%	−0.20
MBB iShares MBS ETF	Reduce -39.3%	0.26%	−0.19
FLOT iShares Floating Rate Bond E	Reduce -78.7%	0.05%	−0.18
IEI iShares 3-7 Year Treasury Bo	Reduce -23.5%	0.43%	−0.16
JNJ Johnson & Johnson	Reduce -2.8%	0.89%	−0.16
IGLB iShares 10+ Year Inv GR Corp.	Reduce -51.2%	0.13%	−0.15
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -25.6%	0.49%	−0.14
PG The Procter & Gamble Co.	Reduce -0.6%	1.00%	−0.14
TSN Tyson Foods Inc. Class A	Reduce -9.9%	0.39%	−0.13
WELL Welltower Inc.	Reduce -6.3%	0.86%	−0.10
IYH iShares U.S. Healthcare ETF	Sold out	0.00%	−0.10
LLY Eli Lilly & Co.	Reduce -13.6%	0.35%	−0.10
POST Post Holdings Inc.	Reduce -4.5%	0.58%	−0.10
AMGN Amgen Inc.	Reduce -0.7%	0.53%	−0.10
IR Ingersoll-Rand Inc.	Reduce -23.5%	0.27%	−0.09
FALN iShares Fallen Angels ETF	Reduce -17.2%	0.34%	−0.09
IAU iShares Gold Trust	Reduce -8.2%	1.00%	−0.09
IWM iShares Russell 2000 ETF	Reduce -30.6%	0.19%	−0.08
SCHB Schwab US Broad Market ETF	Reduce -5.3%	11.37%	−0.07
PFE Pfizer Inc.	Reduce -8.1%	0.31%	−0.06
DE Deere & Co.	Sold out	0.00%	−0.06
CL Colgate-Palmolive Co.	Reduce -20.5%	0.17%	−0.06
HON Honeywell International Inc.	Reduce -12.2%	0.65%	−0.06
XOP SS SPDR S&P Og Exp & Prod	Reduce -47.1%	0.05%	−0.06
PPH Vaneck Pharmaceutical ETF	Sold out	0.00%	−0.06
ACI Albertsons Cos Inc. Class A	Reduce -0.8%	0.65%	−0.06
CVX Chevron Corp.	Reduce -38.7%	0.05%	−0.05
MCD McDonald's Corp.	Reduce -26.1%	0.09%	−0.05
CRM Salesforce Inc.	Reduce -2.3%	0.78%	−0.05
ODFL Old Dominion Freight Line	Sold out	0.00%	−0.04
RSP Invesco S&P 500 Equal Weight	Reduce -27.6%	0.10%	−0.04

Portfolio Buys Q1 2025 → Q2 2025


AVGO Broadcom Inc.	New	1.11%	+1.11
MUB iShares National Muni Bond E	Add +132.9%	1.65%	+0.90
IGIB iShares 5-10Y Inv Grade Corp.	Add +66.4%	1.87%	+0.70
IGSB iShares 1-5Y Inv Grade Corp.	Add +33.1%	3.03%	+0.65
QXO Qxo Inc.	New	0.65%	+0.65
KTOS Kratos Defense & Security	Add +8.1%	1.37%	+0.52
ILOW AB Internal Low Volat Eq ETF	Add +453.4%	0.61%	+0.51
GVI iShares Intermediate Governm	Add +11.8%	7.81%	+0.50
VFLO Victoryshares Free Cash Flow	New	0.39%	+0.39
AGGM iShares 1-10 Year U.S. Aggre	New	0.36%	+0.36
REG Regency Centers Corp.	New	0.36%	+0.36
IDXX Idexx Laboratories Inc.	New	0.31%	+0.31
AVDE Avantis International Equity	Add +8.4%	2.39%	+0.31
WING Wingstop Inc.	Add +0.7%	0.92%	+0.27
AGG iShares Core U.S. Aggregate	Add +44.6%	1.00%	+0.27
PBF PBF Energy Inc. Class A	New	0.21%	+0.21
AVEM Avantis Emerging Markets Eq	Add +13.2%	0.86%	+0.16
RTX RTX Corp.	Add +6.0%	1.48%	+0.14
XLK SS Technology Select Sector	Add +8.2%	0.64%	+0.13
SCHW Schwab (charles) Corp.	Add +11.9%	0.67%	+0.13
BMY Bristol-Myers Squibb Co.	Add +78.2%	0.37%	+0.08
JLL Jones Lang Lasalle Inc.	Add +14.9%	0.43%	+0.05
TW Tradeweb Markets Inc. Class A	Add +12.3%	0.71%	+0.03
BNY Bank of New York Mellon Corp.	Add +0.7%	0.67%	+0.02
IEF iShares 7-10 Year Treasury B	Add +28.7%	0.12%	+0.02
SCHG Schwab US Large-Cap Growth	Add +13.2%	0.09%	+0.02
SHY iShares 1-3 Year Treasury Bo	Add +9.9%	0.40%	+0.02
IVV iShares Core S&P 500 ETF	Add +2.1%	0.15%	+0.01
SCHD Schwab US DVD Equity ETF	Add +28.4%	0.06%	+0.01
ICE Intercontinental Exchange Inc.	Add +0.3%	0.53%	+0.01
SCHK Schwab 1000 Index ETF	Add +0.3%	0.10%	+0.01
SO The Southern Co.	Add +4.0%	0.40%	−0.01
SCHZ Schwab US Aggregate Bond ETF	Add +0.1%	0.13%	−0.01
LIN Linde PLC	Add +0.6%	0.39%	−0.02
HD Home Depot Inc.	Add +2.1%	0.69%	−0.02
CI The Cigna Group	Add +0.3%	0.50%	−0.02

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	133	$628.1M	SCHB, GVI, GOOGL, AAPL, AVDE
Q1 2026	135	$581.8M	SCHB, GVI, AAPL, AVDE, GOOGL
Q4 2025	135	$592.8M	SCHB, GVI, GOOGL, MSFT, AAPL
Q3 2025	138	$595.8M	SCHB, GVI, MSFT, AAPL, GOOGL
Q2 2025	130	$548.6M	SCHB, GVI, MSFT, AAPL, NVDA
Q1 2025	136	$520.4M	SCHB, GVI, AAPL, MSFT, GOOGL
Q4 2024	147	$561.1M	SCHB, GVI, AAPL, MSFT, GOOGL
Q3 2024	145	$552.5M	SCHB, GVI, AAPL, MSFT, GOOGL
Q2 2024	137	$518.1M	SCHB, GVI, MSFT, AAPL, GOOGL
Q1 2024	139	$512.1M	SCHB, GVI, MSFT, AAPL, GOOGL