D L Carlson Investment Group Inc.

Name: D L CARLSON INVESTMENT GROUP INC 13F holdings, Q4 2025
Creator: D L CARLSON INVESTMENT GROUP INC
Published: 2026-02-17

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

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), D L Carlson Investment Group Inc. reported 135 stock positions worth $592.8 million. Its top holding was Schwab US Broad Market ETF (SCHB) at 11.5% of the portfolio, followed by iShares Intermediate Governm (GVI, 8.5%) and Alphabet Class A (GOOGL, 4.1%). Compared with Q3 2025, it opened 7 new positions, sold out of 10, added to 37 and reduced 81. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +231%) and the biggest sale iShares 1-5Y Inv Grade (IGSB, shares −42%).

Most Recent 13F: Q2 2026
Location: CONCORD, NH
CIK: 0001021117
Portfolio Value: $592.8M (Q4 2025)
SEC Filing: 0001021117-26-000001 ↗ filed Feb 17, 2026

Holdings Value

Holdings 135 stocks · $592.8M


SCHB Schwab US Broad Market ETF	11.49%	2,597,862	$68.1M	Reduce -0.5%
GVI iShares Intermediate Governm	8.45%	466,705	$50.1M	Add +3.6%
GOOGL Alphabet Inc. Class A	4.12%	77,944	$24.4M	Reduce -13.5%
MSFT Microsoft Corp.	4.09%	50,193	$24.3M	Reduce -1.8%
AAPL Apple Inc.	4.01%	87,367	$23.8M	Reduce -3.9%
NVDA Nvidia Corp.	3.57%	113,327	$21.1M	Reduce -1.8%
AGG iShares Core U.S. Aggregate	2.90%	171,997	$17.2M	Add +230.8%
AVDE Avantis International Equity	2.88%	207,369	$17.1M	Add +5.2%
AMZN Amazon.com Inc.	2.67%	68,520	$15.8M	Reduce -0.5%
IGIB iShares 5-10Y Inv Grade Corp.	2.01%	221,605	$11.9M	Add +9.7%
JPM JPMorgan Chase & Co.	1.97%	36,175	$11.7M	Reduce -1.9%
IGSB iShares 1-5Y Inv Grade Corp.	1.76%	197,853	$10.5M	Reduce -42.4%
RTX RTX Corp.	1.60%	51,600	$9.5M	Reduce -9.7%
META Meta Platforms Inc. Class A	1.53%	13,733	$9.1M	Reduce -1.9%
AVGO Broadcom Inc.	1.35%	23,055	$8.0M	Add +1.0%
IAU iShares Gold Trust	1.33%	96,888	$7.9M	Add +0.1%
XLE SS Energy Select Sector	1.13%	149,450	$6.7M	Reduce -3.4%
BABA Alibaba Group Holding-SP ADR	1.11%	44,730	$6.6M	Add +1.1%
JNJ Johnson & Johnson	1.11%	31,671	$6.6M	Reduce -0.8%
AVEM Avantis Emerging Markets Eq	1.09%	84,071	$6.5M	Add +11.4%
GEV GE Vernova Inc.	1.09%	9,880	$6.5M	Reduce -21.0%
BRK.B Berkshire Hathaway Inc. Class B	1.07%	12,670	$6.4M	Reduce -1.1%
HPE Hewlett Packard Enterprise	1.07%	264,802	$6.4M	Reduce -17.0%
ISRG Intuitive Surgical Inc.	1.00%	10,489	$5.9M	Reduce -1.7%
WELL Welltower Inc.	0.95%	30,305	$5.6M	Reduce -1.3%
TSLA Tesla Inc.	0.92%	12,173	$5.5M	Add +386.5%
GE General Electric filed as GE AEROSPACE	0.92%	17,643	$5.4M	Reduce -1.0%
TXN Texas Instruments Inc.	0.84%	28,767	$5.0M	Reduce -0.9%
PWR Quanta Services Inc.	0.82%	11,462	$4.8M	Reduce -0.3%
BA The Boeing Co.	0.81%	22,029	$4.8M	Add +29.1%
PG The Procter & Gamble Co.	0.80%	33,116	$4.7M	Reduce -3.4%
XOM Exxon Mobil Corp.	0.77%	37,910	$4.6M	Add +0.2%
CLH Clean Harbors Inc.	0.75%	18,991	$4.5M	New
KTOS Kratos Defense & Security	0.74%	57,454	$4.4M	Reduce -38.2%
BX Blackstone Inc.	0.73%	28,186	$4.3M	Reduce -0.4%
ILOW AB Internal Low Volat Eq ETF filed as AB ACTIVE ETFS INC	0.71%	98,839	$4.2M	Add +11.5%
CRM Salesforce Inc.	0.69%	15,386	$4.1M	Reduce -1.0%
FROG Jfrog Ltd.	0.68%	64,568	$4.0M	Add +0.7%
SPGI S&P Global Inc.	0.64%	7,213	$3.8M	Reduce -7.8%
NFLX Netflix Inc.	0.63%	39,879	$3.7M	Reduce -26.2%
MCK McKesson Corp.	0.62%	4,465	$3.7M	Add +58.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.61%	31,284	$3.6M	Add +2.2%
HD Home Depot Inc.	0.61%	10,470	$3.6M	Reduce -2.7%
WING Wingstop Inc.	0.59%	14,759	$3.5M	Reduce -1.0%
NTRS Northern Trust Corp.	0.59%	25,691	$3.5M	Add +0.6%
SYK Stryker Corp.	0.59%	9,893	$3.5M	Reduce -0.7%
AMGN Amgen Inc.	0.57%	10,332	$3.4M	Reduce -0.3%
MS Morgan Stanley	0.57%	18,969	$3.4M	Reduce -5.2%
BIDU Baidu Inc. - Spon ADR	0.57%	25,723	$3.4M	New
PFF iShares Preferred & Income S	0.56%	106,654	$3.3M	Add +10.2%
MBB iShares MBS ETF	0.55%	34,182	$3.3M	Add +20.7%
SCHW Schwab (charles) Corp.	0.54%	32,187	$3.2M	Add +0.1%
BAB Invesco Taxable Municipal Bo	0.53%	116,062	$3.2M	Add +14.7%
GS Goldman Sachs Group Inc.	0.53%	3,588	$3.2M	Add +0.6%
JLL Jones Lang Lasalle Inc.	0.53%	9,325	$3.1M	Add +0.1%
KEY Keycorp	0.52%	150,382	$3.1M	New
SPY SS SPDR S&P 500 ETF Trust-US	0.49%	4,280	$2.9M	Add +0.6%
XLP SS Consumer Staples Sel Sect	0.49%	37,515	$2.9M	Add +251.1%
ICE Intercontinental Exchange Inc.	0.49%	17,951	$2.9M	Reduce -2.6%
LLY Eli Lilly & Co.	0.48%	2,650	$2.8M	Reduce -0.7%
POST Post Holdings Inc. filed as POST HLDGS INC	0.48%	28,587	$2.8M	Reduce -2.0%
JPEF JPMorgan Equity Focus ETF	0.43%	34,220	$2.6M	Add +8.8%
FALN iShares Fallen Angels ETF	0.43%	92,513	$2.5M	Add +14.8%
IDXX Idexx Laboratories Inc.	0.42%	3,719	$2.5M	Add +1.1%
DHR Danaher Corp.	0.41%	10,711	$2.5M	New
SHYG iShares 0-5 YR HY Corp. Bond	0.41%	56,371	$2.4M	Add +16.7%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.40%	56,144	$2.4M	Reduce -1.9%
MUB iShares National Muni Bond E	0.39%	21,782	$2.3M	Reduce -68.7%
CTSH Cognizant Tech Solutions-A	0.37%	26,322	$2.2M	Reduce -41.8%
SO The Southern Co.	0.36%	24,301	$2.1M	Add +1.9%
LIN Linde PLC	0.33%	4,639	$2.0M	Reduce -2.4%
GLD SPDR Gold Shares	0.33%	4,959	$2.0M	Reduce -1.1%
CNP Centerpoint Energy Inc.	0.32%	49,177	$1.9M	Reduce -0.3%
REG Regency Centers Corp.	0.31%	26,831	$1.9M	Reduce -2.9%
EQT Eqt Corp.	0.30%	33,531	$1.8M	Reduce -22.6%
XBI SS SPDR S&P Biotech ETF	0.29%	14,302	$1.7M	New
PFE Pfizer Inc.	0.29%	69,551	$1.7M	Reduce -0.1%
AMD Advanced Micro Devices	0.26%	7,319	$1.6M	Reduce -14.7%
PBF PBF Energy Inc. Class A	0.25%	55,310	$1.5M	Add +2.8%
XLB SS Materials Select Sector	0.24%	31,160	$1.4M	Reduce -9.4%
ACI Albertsons Cos Inc. Class A	0.21%	72,179	$1.2M	Reduce -55.9%
IR Ingersoll-Rand Inc.	0.20%	15,058	$1.2M	Reduce -13.3%
GOOG Alphabet Inc. Class C	0.20%	3,747	$1.2M	Reduce -21.8%
AMAT Applied Materials Inc.	0.19%	4,459	$1.1M	Reduce -0.5%
XLF SS Financial Select Sector	0.19%	20,245	$1.1M	Add +3.3%
IWM iShares Russell 2000 ETF	0.18%	4,425	$1.1M	Reduce -6.1%
WPM Wheaton Precious Metals Corp.	0.17%	8,692	$1.0M	New
XLK SS Technology Select Sector	0.15%	6,229	$897K	Reduce -2.3%
IVV iShares Core S&P 500 ETF	0.15%	1,296	$888K	Reduce -0.7%
QQQ Invesco QQQ Trust Series 1	0.14%	1,388	$853K	Add +5.5%
IYJ iShares U.S. Industrials ETF	0.14%	5,454	$808K	Reduce -13.0%
VTI VG Morningstar TS MKT ETF-US	0.13%	2,349	$788K	Reduce -7.0%
ESI Element Solutions Inc.	0.12%	29,557	$739K	New
SCHZ Schwab US Aggregate Bond ETF	0.12%	31,504	$736K	Add +2.2%
AGGM iShares 1-10 Year U.S. Aggre	0.12%	7,008	$734K	No change
RGEN Repligen Corp.	0.12%	4,463	$731K	Reduce -10.4%
MCD McDonald's Corp.	0.11%	2,137	$653K	No change
IEF iShares 7-10 Year Treasury B	0.10%	6,240	$600K	Reduce -6.3%
SCHK Schwab 1000 Index ETF	0.10%	17,961	$589K	Add +0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.10%	10,453	$575K	Reduce -8.4%
ORCL Oracle Corp.	0.10%	2,944	$574K	Reduce -78.9%
ADBE Adobe Inc.	0.10%	1,633	$572K	Reduce -3.3%
NTB Bank of N.T. Butterfield&son	0.10%	11,455	$571K	No change
HON Honeywell International Inc.	0.10%	2,908	$567K	Reduce -82.8%
NEE Nextera Energy Inc.	0.09%	6,720	$539K	Reduce -2.0%
IGLB iShares 10+ Year Inv GR Corp.	0.09%	10,325	$521K	Reduce -27.7%
JPST JPMorgan Ultra-Short Income	0.09%	10,258	$519K	Reduce -10.4%
SCHG Schwab US Large-Cap Growth	0.08%	15,354	$501K	Reduce -11.5%
RSP Invesco S&P 500 Equal Weight	0.08%	2,405	$461K	No change
NEM Newmont Corp.	0.08%	4,586	$458K	Add +0.5%
IYW iShares Ustechnology ETF	0.08%	2,278	$455K	Reduce -12.4%
CVX Chevron Corp.	0.07%	2,853	$435K	Reduce -0.5%
XLI SS Industrial Select Sector	0.07%	2,563	$398K	Reduce -7.2%
FCX Freeport-McMoran Inc.	0.07%	7,800	$396K	No change
TLH iShares 10-20 Year Treasury	0.07%	3,860	$392K	Reduce -20.2%
ACN Accenture PLC Class A	0.07%	1,439	$386K	Reduce -6.3%
IEI iShares 3-7 Year Treasury Bo	0.06%	3,064	$366K	Reduce -13.3%
PEP Pepsico Inc.	0.06%	2,481	$356K	Reduce -0.5%
UNP Union Pacific Corp.	0.06%	1,514	$350K	Reduce -18.3%
DE Deere & Co.	0.05%	680	$317K	No change
SCHD Schwab US DVD Equity ETF	0.05%	11,425	$313K	No change
ABT Abbott Laboratories	0.05%	2,500	$313K	Reduce -1.5%
ARCC Ares Capital Corp.	0.05%	14,548	$294K	Reduce -2.9%
WEC WEC Energy Group Inc.	0.05%	2,776	$293K	Reduce -3.6%
LNT Alliant Energy Corp.	0.05%	4,301	$280K	No change
XOP SS SPDR S&P Og Exp & Prod	0.04%	2,039	$257K	Reduce -2.4%
ADI Analog Devices Inc.	0.04%	943	$256K	Reduce -6.6%
TRV The Travelers Cos Inc.	0.04%	833	$242K	Reduce -1.5%
URI United Rentals Inc.	0.04%	288	$233K	No change
VEU Vanguard Ftse All-World Ex-U	0.04%	3,128	$230K	Add +1.4%
IJR iShares Core S&P Small-Cap E	0.04%	1,901	$228K	No change
COST Costco Wholesale Corp.	0.04%	263	$227K	Reduce -1.5%
SBUX Starbucks Corp.	0.04%	2,470	$208K	Reduce -11.1%
SHY iShares 1-3 Year Treasury Bo	0.03%	2,477	$205K	Add +1.1%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F	0.03%	3,995	$204K	Reduce -74.2%

Portfolio Sells Q3 2025 → Q4 2025


IGSB iShares 1-5Y Inv Grade Corp.	Reduce -42.4%	1.76%	−1.29
MUB iShares National Muni Bond E	Reduce -68.7%	0.39%	−0.85
KTOS Kratos Defense & Security	Reduce -38.2%	0.74%	−0.69
ZG Zillow Group Inc. Class A	Sold out	0.00%	−0.57
ORCL Oracle Corp.	Reduce -78.9%	0.10%	−0.56
QXO Qxo Inc.	Sold out	0.00%	−0.53
CRCL Circle Internet Group Inc.	Sold out	0.00%	−0.51
HON Honeywell International Inc.	Reduce -82.8%	0.10%	−0.50
NFLX Netflix Inc.	Reduce -26.2%	0.63%	−0.46
VIRT Virtu Financial Inc. Class A	Sold out	0.00%	−0.42
CI The Cigna Group	Sold out	0.00%	−0.40
MSFT Microsoft Corp.	Reduce -1.8%	4.09%	−0.35
BMY Bristol-Myers Squibb Co.	Sold out	0.00%	−0.31
ACI Albertsons Cos Inc. Class A	Reduce -55.9%	0.21%	−0.27
STIP iShares 0-5 Year Tips Bond E	Sold out	0.00%	−0.25
HPE Hewlett Packard Enterprise	Reduce -17.0%	1.07%	−0.24
GEV GE Vernova Inc.	Reduce -21.0%	1.09%	−0.20
META Meta Platforms Inc. Class A	Reduce -1.9%	1.53%	−0.20
CTSH Cognizant Tech Solutions-A	Reduce -41.8%	0.37%	−0.14
HD Home Depot Inc.	Reduce -2.7%	0.61%	−0.12
CL Colgate-Palmolive Co.	Sold out	0.00%	−0.10
JMST JPM Ultra-Short Muni Income	Reduce -74.2%	0.03%	−0.10
EQT Eqt Corp.	Reduce -22.6%	0.30%	−0.09
PG The Procter & Gamble Co.	Reduce -3.4%	0.80%	−0.08
BX Blackstone Inc.	Reduce -0.4%	0.73%	−0.08
TXN Texas Instruments Inc.	Reduce -0.9%	0.84%	−0.05
NVDA Nvidia Corp.	Reduce -1.8%	3.57%	−0.05
POST Post Holdings Inc.	Reduce -2.0%	0.48%	−0.05
LIN Linde PLC	Reduce -2.4%	0.33%	−0.05
FLOT iShares Floating Rate Bond E	Sold out	0.00%	−0.04
IR Ingersoll-Rand Inc.	Reduce -13.3%	0.20%	−0.04
GBCI Glacier Bancorp Inc.	Sold out	0.00%	−0.04
WING Wingstop Inc.	Reduce -1.0%	0.59%	−0.04
IGLB iShares 10+ Year Inv GR Corp.	Reduce -27.7%	0.09%	−0.04
XLE SS Energy Select Sector	Reduce -3.4%	1.13%	−0.03
SYK Stryker Corp.	Reduce -0.7%	0.59%	−0.03
ICE Intercontinental Exchange Inc.	Reduce -2.6%	0.49%	−0.03
REG Regency Centers Corp.	Reduce -2.9%	0.31%	−0.03
XLB SS Materials Select Sector	Reduce -9.4%	0.24%	−0.02
TLH iShares 10-20 Year Treasury	Reduce -20.2%	0.07%	−0.02
IYJ iShares U.S. Industrials ETF	Reduce -13.0%	0.14%	−0.02
XLU St Sr Utl SL SE SPDR ETF-Usd	Reduce -1.9%	0.40%	−0.01
UNP Union Pacific Corp.	Reduce -18.3%	0.06%	−0.01
JPST JPMorgan Ultra-Short Income	Reduce -10.4%	0.09%	−0.01
IEI iShares 3-7 Year Treasury Bo	Reduce -13.3%	0.06%	−0.01
RTX RTX Corp.	Reduce -9.7%	1.60%	−0.01
IYW iShares Ustechnology ETF	Reduce -12.4%	0.08%	−0.01
SCHG Schwab US Large-Cap Growth	Reduce -11.5%	0.08%	−0.01
IWM iShares Russell 2000 ETF	Reduce -6.1%	0.18%	−0.01
IEF iShares 7-10 Year Treasury B	Reduce -6.3%	0.10%	−0.01

Portfolio Buys Q3 2025 → Q4 2025


AGG iShares Core U.S. Aggregate	Add +230.8%	2.90%	+2.02
CLH Clean Harbors Inc.	New	0.75%	+0.75
TSLA Tesla Inc.	Add +386.5%	0.92%	+0.74
BIDU Baidu Inc. - Spon ADR	New	0.57%	+0.57
KEY Keycorp	New	0.52%	+0.52
DHR Danaher Corp.	New	0.41%	+0.41
XLP SS Consumer Staples Sel Sect	Add +251.1%	0.49%	+0.35
GVI iShares Intermediate Governm	Add +3.6%	8.45%	+0.33
XBI SS SPDR S&P Biotech ETF	New	0.29%	+0.29
AVDE Avantis International Equity	Add +5.2%	2.88%	+0.27
MCK McKesson Corp.	Add +58.0%	0.62%	+0.25
BA The Boeing Co.	Add +29.1%	0.81%	+0.19
IGIB iShares 5-10Y Inv Grade Corp.	Add +9.7%	2.01%	+0.18
WPM Wheaton Precious Metals Corp.	New	0.17%	+0.17
FROG Jfrog Ltd.	Add +0.7%	0.68%	+0.17
IAU iShares Gold Trust	Add +0.1%	1.33%	+0.14
AVEM Avantis Emerging Markets Eq	Add +11.4%	1.09%	+0.14
ESI Element Solutions Inc.	New	0.12%	+0.12
MBB iShares MBS ETF	Add +20.7%	0.55%	+0.10
AVGO Broadcom Inc.	Add +1.0%	1.35%	+0.08
ILOW AB Internal Low Volat Eq ETF	Add +11.5%	0.71%	+0.08
BAB Invesco Taxable Municipal Bo	Add +14.7%	0.53%	+0.07
JLL Jones Lang Lasalle Inc.	Add +0.1%	0.53%	+0.06
SHYG iShares 0-5 YR HY Corp. Bond	Add +16.7%	0.41%	+0.06
GS Goldman Sachs Group Inc.	Add +0.6%	0.53%	+0.06
XOM Exxon Mobil Corp.	Add +0.2%	0.77%	+0.05
BNY Bank of New York Mellon Corp.	Add +2.2%	0.61%	+0.05
FALN iShares Fallen Angels ETF	Add +14.8%	0.43%	+0.05
PFF iShares Preferred & Income S	Add +10.2%	0.56%	+0.04
JPEF JPMorgan Equity Focus ETF	Add +8.8%	0.43%	+0.04
IDXX Idexx Laboratories Inc.	Add +1.1%	0.42%	+0.03
SCHW Schwab (charles) Corp.	Add +0.1%	0.54%	+0.03
SPY SS SPDR S&P 500 ETF Trust-US	Add +0.6%	0.49%	+0.02
NTRS Northern Trust Corp.	Add +0.6%	0.59%	+0.01
NEM Newmont Corp.	Add +0.5%	0.08%	+0.01
QQQ Invesco QQQ Trust Series 1	Add +5.5%	0.14%	+0.01
XLF SS Financial Select Sector	Add +3.3%	0.19%	+0.01
SCHK Schwab 1000 Index ETF	Add +0.3%	0.10%	+0.00
SCHZ Schwab US Aggregate Bond ETF	Add +2.2%	0.12%	+0.00
VEU Vanguard Ftse All-World Ex-U	Add +1.4%	0.04%	+0.00
SHY iShares 1-3 Year Treasury Bo	Add +1.1%	0.03%	+0.00
PBF PBF Energy Inc. Class A	Add +2.8%	0.25%	−0.02
SO The Southern Co.	Add +1.9%	0.36%	−0.02
BABA Alibaba Group Holding-SP ADR	Add +1.1%	1.11%	−0.22

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