D. Scott Neal, Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 11, 2024), D. Scott Neal, Inc. reported 61 stock positions worth $152.9 million. Its top holding was SPDR Gold Shares (GLD) at 15.9% of the portfolio, followed by Abbvie (ABBV, 9.5%) and Unum (UNM, 7.9%). Compared with Q4 2023, it opened 5 new positions, sold out of 3, added to 9 and reduced 12. The biggest buy was a new position in Unum (UNM) and the biggest sale an exit from Alpha Metallurgical Resource (AMR).

Most Recent 13F
Q3 2025
Location
LEXINGTON, KY
CIK
0001596920
Portfolio Value
$152.9M (Q1 2024)
SEC Filing
0001596920-24-000003 ↗ filed Apr 11, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $152.9M $152.9M Q1 2024 Q2 2024: $179.6M Q2 2024 Q3 2024: $189.1M Q3 2024 Q4 2024: $182.3M Q4 2024 Q1 2025: $180.3M Q1 2025 Q2 2025: $200.6M Q2 2025 Q3 2025: $216.2M Q3 2025

Holdings 61 stocks · $152.9M
GLD SPDR Gold Shares 15.89% 118,136 $24.3M Reduce -0.4%
ABBV Abbvie Inc. 9.53% 80,056 $14.6M Add +39.3%
UNM Unum Group 7.89% 224,960 $12.1M New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 6.44% 39,367 $9.8M Add +3.9%
NSA National Storage Affiliates 5.90% 230,328 $9.0M New
KLAC KLA Corp. 5.89% 12,900 $9.0M Reduce -21.1%
CRL Charles River Laboratories 5.84% 32,951 $8.9M New
FLEX Flex Ltd. 5.07% 270,849 $7.7M New
QQQ Invesco QQQ Trust Series 1 5.04% 17,344 $7.7M Add +63.4%
REKR Rekor Systems Inc. 2.55% 1,700,650 $3.9M No change
MSFT Microsoft Corp. 2.31% 8,386 $3.5M No change
CAT Caterpillar Inc. 1.81% 7,549 $2.8M No change
VTIP Vanguard Short-Term Tips 1.76% 56,296 $2.7M No change
XLE SS Energy Select Sector 1.69% 27,431 $2.6M Add +4.8%
SPHB Invesco S&P 500 High Beta Et 1.55% 27,072 $2.4M No change
BRK.B Berkshire Hathaway Inc. Class B 1.48% 5,400 $2.3M No change
QLD Proshares Ultra QQQ 1.44% 25,091 $2.2M No change
IAU iShares Gold Trust 1.22% 44,249 $1.9M Add +8.5%
SSO Proshares Ultra S&P500 1.16% 22,904 $1.8M No change
SPY SS SPDR S&P 500 ETF Trust-US 1.12% 3,252 $1.7M Add +25.4%
NVDA Nvidia Corp. 0.95% 1,616 $1.5M Reduce -3.0%
MDYV SS SPDR S&P 400 MC Val ETF 0.91% 18,211 $1.4M Reduce -2.8%
AAPL Apple Inc. 0.77% 6,837 $1.2M No change
RBCAA Republic Bancorp Inc. Class A 0.71% 21,000 $1.1M Reduce -6.6%
IVV iShares Core S&P 500 ETF 0.65% 1,877 $987K Add +0.4%
XLRE SS Real Estate Select Sector 0.59% 22,976 $908K Reduce -1.1%
HD Home Depot Inc. 0.59% 2,336 $896K No change
IJS iShares S&P Small-Cap 600 Va 0.54% 7,966 $819K No change
V Visa Inc. Class A 0.47% 2,550 $712K No change
MA Mastercard Inc. Class A 0.43% 1,365 $657K Add +0.1%
T AT&T Inc. 0.42% 36,890 $649K Reduce -4.8%
JNJ Johnson & Johnson 0.42% 4,100 $649K No change
LOW Lowe's Cos Inc. 0.42% 2,500 $637K No change
EFA iShares MSCI Eafe ETF 0.41% 7,900 $631K Reduce -7.3%
GOOG Alphabet Inc. Class C 0.40% 4,000 $609K No change
PG The Procter & Gamble Co. 0.35% 3,260 $529K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.31% 2,473 $472K Reduce -0.3%
RF Regions Financial Corp. 0.30% 21,434 $456K No change
AMZN Amazon.com Inc. 0.30% 2,521 $455K No change
NKE Nike Inc. Class B 0.29% 4,685 $442K No change
VOO Vanguard S&P 500 ETF 0.29% 917 $441K Reduce -5.4%
ESGU iShares ESG Aware MSCI USA 0.28% 3,787 $435K No change
MDY State Street SPDR S&P Midcap 0.28% 780 $435K No change
NVO Novo-Nordisk A/S-Spons ADR 0.28% 3,280 $424K Add +2.2%
IWM iShares Russell 2000 ETF 0.26% 1,860 $391K No change
GSK GSK PLC-Spon ADR 0.22% 7,928 $343K No change
GOOGL Alphabet Inc. Class A 0.22% 2,220 $335K No change
ABT Abbott Laboratories 0.22% 2,900 $330K No change
XOM Exxon Mobil Corp. 0.21% 2,734 $318K Reduce -0.2%
MO Altria Group Inc. 0.20% 7,000 $312K No change
MRK Merck & Co. Inc. 0.20% 2,270 $301K No change
IWR iShares Russell Mid-Cap ETF 0.20% 3,560 $299K No change
ESBA Empire State Realty Op LP-Es 0.19% 29,000 $289K No change
AVGO Broadcom Inc. 0.19% 218 $289K No change
ESGD iShares Trust iShares ESG Aw 0.19% 3,606 $288K No change
HON Honeywell International Inc. 0.17% 1,285 $264K No change
ANET Arista Networks Inc. 0.16% 856 $248K Reduce -44.6%
ESGV Vanguard ESG US Stock ETF 0.16% 2,618 $244K No change
ITB iShares U.S. Home Constructi 0.15% 2,000 $232K No change
WM Waste Management Inc. 0.14% 1,017 $217K New
LIVEPERSON INC 0.02% 25,107 $25K No change

Portfolio Sells Q4 2023 → Q1 2024
AMR Alpha Metallurgical Resource Sold out 0.00% −9.78
GLD SPDR Gold Shares Reduce -0.4% 15.89% −4.31
KLAC KLA Corp. Reduce -21.1% 5.89% −2.57
RBCAA Republic Bancorp Inc. Class A Reduce -6.6% 0.71% −0.41
MDYV SS SPDR S&P 400 MC Val ETF Reduce -2.8% 0.91% −0.32
XLRE SS Real Estate Select Sector Reduce -1.1% 0.59% −0.23
JPM JPMorgan Chase & Co. Sold out 0.00% −0.21
PFE Pfizer Inc. Sold out 0.00% −0.18
ANET Arista Networks Inc. Reduce -44.6% 0.16% −0.16
EFA iShares MSCI Eafe ETF Reduce -7.3% 0.41% −0.16
T AT&T Inc. Reduce -4.8% 0.42% −0.15
VOO Vanguard S&P 500 ETF Reduce -5.4% 0.29% −0.09
IBM Intl Business Machines Corp. Reduce -0.3% 0.31% −0.05
XOM Exxon Mobil Corp. Reduce -0.2% 0.21% −0.04
NVDA Nvidia Corp. Reduce -3.0% 0.95% +0.22

Portfolio Buys Q4 2023 → Q1 2024
UNM Unum Group New 7.89% +7.89
NSA National Storage Affiliates New 5.90% +5.90
CRL Charles River Laboratories New 5.84% +5.84
FLEX Flex Ltd. New 5.07% +5.07
ABBV Abbvie Inc. Add +39.3% 9.53% +1.60
QQQ Invesco QQQ Trust Series 1 Add +63.4% 5.04% +1.17
WM Waste Management Inc. New 0.14% +0.14
SPY SS SPDR S&P 500 ETF Trust-US Add +25.4% 1.12% +0.01
NVO Novo-Nordisk A/S-Spons ADR Add +2.2% 0.28% −0.02
MA Mastercard Inc. Class A Add +0.1% 0.43% −0.09
IVV iShares Core S&P 500 ETF Add +0.4% 0.65% −0.15
IAU iShares Gold Trust Add +8.5% 1.22% −0.20
XLE SS Energy Select Sector Add +4.8% 1.69% −0.26
AJG Arthur J Gallagher & Co. Add +3.9% 6.44% −1.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 58$216.2MGLD, QQQ, XLC, UNM, AJG
Q2 2025 55$200.6MGLD, QQQ, UNM, XLC, AJG
Q1 2025 54$180.3MGLD, QQQ, UNM, AJG, XLC
Q4 2024 55$182.3MQQQ, GLD, UNM, AJG, XLC
Q3 2024 58$189.1MQQQ, GLD, UNM, AJG, XLU
Q2 2024 63$179.6MQQQ, GLD, AJG, UNM, NSA
Q1 2024 61$152.9MGLD, ABBV, UNM, AJG, NSA