Davidson Investment Advisors

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 21, 2026), Davidson Investment Advisors reported 123 stock positions worth $2.4 billion. Its top holding was iShares Core Intl Stock ETF (IXUS) at 8.3% of the portfolio, followed by Alphabet Class C (GOOG, 4.8%) and Amazon.com (AMZN, 4.4%). Compared with Q1 2026, it opened 2 new positions, sold out of 7, added to 29 and reduced 76. The biggest buy was Eaton (ETN, shares +38%) and the biggest sale FedEx (FDX, shares −96%).

Most Recent 13F
Q2 2026
Location
GREAT FALLS, MT
CIK
0001140771
Portfolio Value
$2.4B (Q2 2026)
SEC Filing
0001140771-26-000005 ↗ filed Jul 21, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.9B Q1 2024 Q2 2024: $1.9B Q2 2024 Q3 2024: $2.1B Q3 2024 Q4 2024: $2.1B Q4 2024 Q1 2025: $2.0B Q1 2025 Q2 2025: $2.2B Q2 2025 Q3 2025: $2.4B Q3 2025 Q4 2025: $2.4B Q4 2025 Q1 2026: $2.3B Q1 2026 Q2 2026: $2.4B $2.4B Q2 2026

Holdings 123 stocks · $2.4B
IXUS iShares Core Intl Stock ETF 8.28% 2,122,254 $202.5M Add +0.1%
GOOG Alphabet Inc. Class C 4.80% 332,294 $117.4M Reduce -8.3%
AMZN Amazon.com Inc. 4.36% 447,774 $106.7M Reduce -3.5%
AAPL Apple Inc. 4.04% 341,640 $98.9M Reduce -3.4%
TSM Taiwan Semiconductor-SP ADR 3.91% 200,103 $95.6M Reduce -4.5%
MSFT Microsoft Corp. 3.70% 242,760 $90.6M Reduce -2.6%
NVDA Nvidia Corp. 3.18% 388,989 $77.8M Add +14.7%
H Hyatt Hotels Corp. Class A 2.25% 284,109 $55.1M Reduce -3.2%
META Meta Platforms Inc. Class A 2.05% 89,113 $50.2M Add +5.1%
AVGO Broadcom Inc. 1.99% 128,579 $48.6M Add +26.1%
ETN Eaton Corp. PLC 1.97% 113,066 $48.2M Add +37.7%
C Citigroup Inc. 1.72% 300,617 $42.1M Reduce -5.3%
VFMO Vanguard US Momentum Factor 1.59% 156,341 $39.0M Add +1.8%
SRE Sempra 1.57% 414,833 $38.5M Reduce -2.5%
LH Labcorp Holdings Inc. 1.52% 132,898 $37.2M Reduce -3.0%
AGNC AGNC Investment Corp. 1.50% 3,371,067 $36.7M Reduce -16.2%
V Visa Inc. Class A 1.43% 102,129 $35.0M Add +17.1%
CSCO Cisco Systems Inc. 1.42% 296,446 $34.8M Reduce -8.7%
ADI Analog Devices Inc. 1.35% 83,377 $33.1M Reduce -2.4%
ANET Arista Networks Inc. 1.31% 188,476 $32.0M Reduce -5.8%
RTX RTX Corp. 1.27% 163,898 $31.1M Reduce -35.5%
EUSA iShares MSCI USA Equal Weigh 1.17% 251,532 $28.7M Add +1.2%
MDT Medtronic PLC 1.11% 348,684 $27.3M Reduce -4.1%
PANW Palo Alto Networks Inc. 1.10% 78,979 $26.9M Reduce -25.9%
CI The Cigna Group 1.07% 95,348 $26.3M Reduce -4.5%
CVS CVS Health Corp. 1.03% 244,542 $25.3M Reduce -0.6%
CPT Camden Property Trust 1.02% 218,944 $25.1M Add +37.8%
GS Goldman Sachs Group Inc. 1.02% 24,653 $24.9M Reduce -23.7%
PGR Progressive Corp. 1.01% 112,873 $24.7M Add +34.5%
WMT Walmart Inc. 0.99% 214,078 $24.2M Reduce -4.8%
VRTX Vertex Pharmaceuticals Inc. 0.99% 48,710 $24.2M Reduce -4.9%
FDXF FedEx Freight Holding Co. 0.94% 152,374 $23.0M Add +309.9%
BA The Boeing Co. 0.91% 102,283 $22.1M Reduce -0.4%
QCOM Qualcomm Inc. 0.90% 119,319 $22.0M Reduce -16.1%
SARO Standardaero Inc. 0.89% 731,491 $21.9M Add +20.5%
BAC Bank of America Corp. 0.89% 383,246 $21.8M Reduce -0.9%
SCHW Schwab (charles) Corp. 0.89% 234,899 $21.7M Reduce -0.4%
HD Home Depot Inc. 0.88% 61,101 $21.5M Reduce -5.9%
GIL Gildan Activewear Inc. 0.88% 415,251 $21.4M Reduce -5.5%
CVX Chevron Corp. 0.85% 125,820 $20.9M Reduce -5.8%
VTEB Vanguard Tax-Exempt Bond ETF 0.85% 411,742 $20.8M Add +5.2%
PM Philip Morris International 0.85% 114,953 $20.8M Reduce -0.6%
EOG EOG Resources Inc. 0.84% 159,172 $20.6M Reduce -4.8%
AZN Astrazeneca PLC 0.84% 108,676 $20.6M Reduce -5.8%
CTVA Corteva Inc. 0.80% 230,036 $19.5M Reduce -5.7%
ITM Vaneck Intermediate Muni ETF 0.79% 410,872 $19.3M Add +1.6%
TMO Thermo Fisher Scientific Inc. 0.79% 38,437 $19.3M Reduce -3.6%
OTIS Otis Worldwide Corp. 0.77% 262,612 $18.8M Reduce -11.2%
FIBK First Interstate Bancsys-A 0.75% 478,878 $18.5M Reduce -0.3%
DT Dynatrace Inc. 0.75% 417,440 $18.3M Reduce -4.9%
NFLX Netflix Inc. 0.73% 249,653 $17.8M Reduce -5.4%
TRNO Terreno Realty Corp. 0.73% 275,086 $17.8M Add +0.1%
EXC Exelon Corp. 0.70% 366,488 $17.1M Reduce -5.5%
TRMB Trimble Inc. 0.69% 331,617 $17.0M Add +37.6%
MTUM iShares MSCI USA Momentum Fa 0.69% 49,002 $16.8M New
ELAN Elanco Animal Health Inc. 0.67% 668,594 $16.5M Reduce -0.3%
CP Canadian Pacific Kansas City 0.67% 188,197 $16.3M Reduce -0.1%
STZ Constellation Brands Inc. Class A 0.66% 115,584 $16.1M Reduce -6.3%
BMY Bristol-Myers Squibb Co. 0.65% 277,201 $16.0M Reduce -5.4%
TMUS T-Mobile US Inc. 0.63% 91,832 $15.4M Reduce -5.5%
LOW Lowe's Cos Inc. 0.62% 68,609 $15.1M Reduce -0.7%
ICE Intercontinental Exchange Inc. 0.60% 118,842 $14.6M Reduce -0.4%
GBCI Glacier Bancorp Inc. 0.60% 283,016 $14.6M Reduce -5.5%
PFE Pfizer Inc. 0.56% 570,345 $13.7M Reduce -1.4%
CMCSA Comcast Corp. Class A 0.55% 546,533 $13.4M Reduce -0.1%
EQT Eqt Corp. 0.54% 250,007 $13.3M Reduce -0.4%
LIN Linde PLC 0.53% 24,822 $12.9M Add +0.1%
CRM Salesforce Inc. 0.51% 79,958 $12.5M Reduce -8.0%
HON Honeywell International Inc. 0.49% 53,764 $12.0M Reduce -6.1%
HONA Honeywell Aerospace Inc. 0.48% 53,381 $11.8M Reduce -6.8%
FUL H.B. Fuller Co. filed as FULLER H B CO 0.48% 199,390 $11.6M Reduce -4.8%
DGRO iShares Core Dividend Growth 0.47% 151,090 $11.5M Add +7.8%
WAFD Wafd Inc. 0.44% 282,839 $10.9M Reduce -6.4%
IFNNY Infineon Technologies-ADR 0.44% 114,123 $10.7M New
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.44% 209,448 $10.7M Reduce -3.4%
INTU Intuit Inc. 0.40% 37,855 $9.9M Reduce -9.3%
FANG Diamondback Energy Inc. 0.40% 55,568 $9.8M Reduce -2.5%
ITOT iShares Core S&P Total U.S. 0.33% 49,458 $8.1M Reduce -1.6%
ZTS Zoetis Inc. 0.33% 111,868 $8.0M Add +107.8%
BRBR Bellring Brands Inc. 0.32% 610,859 $7.9M Reduce -17.7%
EXE Expand Energy Corp. 0.28% 75,621 $6.9M Reduce -6.7%
VB Vanguard Most SM-Cap ETF-Usd 0.25% 20,105 $6.1M Reduce -3.9%
MUB iShares National Muni Bond E 0.21% 48,395 $5.2M Reduce -1.6%
SHM SS SPDR N Ice St Muni ETF 0.09% 43,357 $2.1M Reduce -8.4%
GOOGL Alphabet Inc. Class A 0.07% 5,096 $1.8M Reduce -4.3%
JNJ Johnson & Johnson 0.07% 6,977 $1.8M Add +2.1%
VTI VG Morningstar TS MKT ETF-US 0.06% 4,052 $1.5M No change
CMF iShares California Muni Bond 0.06% 25,689 $1.5M Add +10.9%
CAT Caterpillar Inc. 0.06% 1,389 $1.5M No change
JPM JPMorgan Chase & Co. 0.05% 4,058 $1.3M Reduce -4.0%
COST Costco Wholesale Corp. 0.05% 1,260 $1.2M Add +0.6%
VTHR Vanguard Russell 3000 0.04% 3,061 $1.0M Reduce -5.7%
FDX FedEx Corp. 0.03% 2,719 $851K Reduce -96.3%
ABBV Abbvie Inc. 0.03% 3,377 $850K Reduce -2.9%
IJH iShares Core S&P Midcap ETF 0.03% 9,747 $752K No change
MS Morgan Stanley 0.03% 3,427 $716K No change
SO The Southern Co. 0.03% 7,300 $699K No change
IDEV iShares Core MSCI Dev MKTS 0.03% 7,118 $634K Reduce -29.3%
VOO Vanguard S&P 500 ETF 0.03% 898 $617K No change
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.02% 12,237 $565K Add +1.9%

Show all 123 holdings

Portfolio Sells Q1 2026 → Q2 2026
FDX FedEx Corp. Reduce -96.3% 0.03% −1.11
RTX RTX Corp. Reduce -35.5% 1.27% −0.84
CUBE Cubesmart Sold out 0.00% −0.71
HON Honeywell International Inc. Reduce -6.1% 0.49% −0.62
PYPL PayPal Holdings Inc. Sold out 0.00% −0.52
SLAB Silicon Laboratories Inc. Reduce -97.4% 0.01% −0.46
INTU Intuit Inc. Reduce -9.3% 0.40% −0.37
VYM Vanguard High DVD Yield ETF Sold out 0.00% −0.37
NFLX Netflix Inc. Reduce -5.4% 0.73% −0.37
CVX Chevron Corp. Reduce -5.8% 0.85% −0.34
MSFT Microsoft Corp. Reduce -2.6% 3.70% −0.28
TMUS T-Mobile US Inc. Reduce -5.5% 0.63% −0.25
MDT Medtronic PLC Reduce -4.1% 1.11% −0.24
AGNC AGNC Investment Corp. Reduce -16.2% 1.50% −0.24
OTIS Otis Worldwide Corp. Reduce -11.2% 0.77% −0.21
WMT Walmart Inc. Reduce -4.8% 0.99% −0.21
ICE Intercontinental Exchange Inc. Reduce -0.4% 0.60% −0.21
SRE Sempra Reduce -2.5% 1.57% −0.21
EOG EOG Resources Inc. Reduce -4.8% 0.84% −0.20
BRBR Bellring Brands Inc. Reduce -17.7% 0.32% −0.19
CRM Salesforce Inc. Reduce -8.0% 0.51% −0.19
GIL Gildan Activewear Inc. Reduce -5.5% 0.88% −0.18
GS Goldman Sachs Group Inc. Reduce -23.7% 1.02% −0.16
PFF iShares Preferred & Income S Sold out 0.00% −0.16
EQT Eqt Corp. Reduce -0.4% 0.54% −0.15
STZ Constellation Brands Inc. Class A Reduce -6.3% 0.66% −0.14
PFE Pfizer Inc. Reduce -1.4% 0.56% −0.14
AZN Astrazeneca PLC Reduce -5.8% 0.84% −0.14
CMCSA Comcast Corp. Class A Reduce -0.1% 0.55% −0.13
EXC Exelon Corp. Reduce -5.5% 0.70% −0.12
BMY Bristol-Myers Squibb Co. Reduce -5.4% 0.65% −0.11
EXE Expand Energy Corp. Reduce -6.7% 0.28% −0.10
FANG Diamondback Energy Inc. Reduce -2.5% 0.40% −0.09
LOW Lowe's Cos Inc. Reduce -0.7% 0.62% −0.09
CTVA Corteva Inc. Reduce -5.7% 0.80% −0.08
FUL H.B. Fuller Co. Reduce -4.8% 0.48% −0.08
CI The Cigna Group Reduce -4.5% 1.07% −0.07
SCHW Schwab (charles) Corp. Reduce -0.4% 0.89% −0.07
HONA Honeywell Aerospace Inc. Reduce -6.8% 0.48% −0.06
TMO Thermo Fisher Scientific Inc. Reduce -3.6% 0.79% −0.06
LH Labcorp Holdings Inc. Reduce -3.0% 1.52% −0.06
HD Home Depot Inc. Reduce -5.9% 0.88% −0.04
JMST JPM Ultra-Short Muni Income Reduce -3.4% 0.44% −0.04
GLD SPDR Gold Shares Reduce -55.3% 0.01% −0.02
ELAN Elanco Animal Health Inc. Reduce -0.3% 0.67% −0.02
LVS Las Vegas Sands Corp. Sold out 0.00% −0.01
BDX Becton Dickinson and Co. Sold out 0.00% −0.01
SHM SS SPDR N Ice St Muni ETF Reduce -8.4% 0.09% −0.01
MUB iShares National Muni Bond E Reduce -1.6% 0.21% −0.01
IDEV iShares Core MSCI Dev MKTS Reduce -29.3% 0.03% −0.01

Portfolio Buys Q1 2026 → Q2 2026
ETN Eaton Corp. PLC Add +37.7% 1.97% +0.70
FDXF FedEx Freight Holding Co. Add +309.9% 0.94% +0.70
MTUM iShares MSCI USA Momentum Fa New 0.69% +0.69
NVDA Nvidia Corp. Add +14.7% 3.18% +0.63
AVGO Broadcom Inc. Add +26.1% 1.99% +0.62
IFNNY Infineon Technologies-ADR New 0.44% +0.44
CPT Camden Property Trust Add +37.8% 1.02% +0.36
IXUS iShares Core Intl Stock ETF Add +0.1% 8.28% +0.35
V Visa Inc. Class A Add +17.1% 1.43% +0.29
PGR Progressive Corp. Add +34.5% 1.01% +0.29
VFMO Vanguard US Momentum Factor Add +1.8% 1.59% +0.29
SARO Standardaero Inc. Add +20.5% 0.89% +0.22
EUSA iShares MSCI USA Equal Weigh Add +1.2% 1.17% +0.08
ZTS Zoetis Inc. Add +107.8% 0.33% +0.05
DGRO iShares Core Dividend Growth Add +7.8% 0.47% +0.04
TRMB Trimble Inc. Add +37.6% 0.69% +0.02
VTEB Vanguard Tax-Exempt Bond ETF Add +5.2% 0.85% +0.01
CMF iShares California Muni Bond Add +10.9% 0.06% +0.00
VXUS Vanguard Total Intl Stock Add +15.1% 0.02% +0.00
IJR iShares Core S&P Small-Cap E Add +0.8% 0.02% +0.00
DE Deere & Co. Add +5.3% 0.02% +0.00
JNJ Johnson & Johnson Add +2.1% 0.07% +0.00
XOM Exxon Mobil Corp. Add +32.0% 0.01% +0.00
TRNO Terreno Realty Corp. Add +0.1% 0.73% 0.00
IUSB Ishr CR Unvrse Usd BD ETF-Ui Add +1.9% 0.02% −0.00
SYK Stryker Corp. Add +3.3% 0.02% −0.00
ABT Abbott Laboratories Add +3.6% 0.01% −0.00
LIN Linde PLC Add +0.1% 0.53% −0.00
COST Costco Wholesale Corp. Add +0.6% 0.05% −0.01
ITM Vaneck Intermediate Muni ETF Add +1.6% 0.79% −0.02
META Meta Platforms Inc. Class A Add +5.1% 2.05% −0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 123$2.4BIXUS, GOOG, AMZN, AAPL, TSM
Q1 2026Amended 126$2.3BIXUS, GOOG, AMZN, MSFT, AAPL
Q4 2025 119$2.4BIXUS, GOOG, MSFT, AMZN, AAPL
Q3 2025 122$2.4BIXUS, MSFT, GOOG, AMZN, AAPL
Q2 2025 121$2.2BIXUS, MSFT, AMZN, GOOG, AAPL
Q1 2025 120$2.0BIDEV, MSFT, AAPL, AMZN, GOOG
Q4 2024 122$2.1BGOOG, AMZN, IDEV, AAPL, MSFT
Q3 2024 118$2.1BIDEV, MSFT, AAPL, AMZN, GOOG
Q2 2024 116$1.9BIDEV, AMZN, GOOG, MSFT, AAPL
Q1 2024 115$1.9BIDEV, AMZN, MSFT, GOOG, AAPL