Davidson Investment Advisors

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Davidson Investment Advisors reported 115 stock positions worth $1.9 billion. Its top holding was iShares Core MSCI Dev MKTS (IDEV) at 5.0% of the portfolio, followed by Amazon.com (AMZN, 4.6%) and Microsoft (MSFT, 4.5%). Compared with Q4 2023, it opened 6 new positions, sold out of 5, added to 75 and reduced 24. The biggest buy was a new position in Microchip Technology (MCHP) and the biggest sale an exit from Splunk (SPLK).

Most Recent 13F
Q2 2026
Location
GREAT FALLS, MT
CIK
0001140771
Portfolio Value
$1.9B (Q1 2024)
SEC Filing
0001140771-24-000002 ↗ filed May 13, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.9B $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 Q2 2026

Holdings 115 stocks · $1.9B
IDEV iShares Core MSCI Dev MKTS 4.98% 1,428,515 $95.9M Add +15.6%
AMZN Amazon.com Inc. 4.64% 495,413 $89.4M Reduce -2.4%
MSFT Microsoft Corp. 4.50% 206,066 $86.7M Add +0.8%
GOOG Alphabet Inc. Class C 4.30% 543,349 $82.7M Add +1.3%
AAPL Apple Inc. 3.32% 372,258 $63.8M Add +1.4%
VB Vanguard Most SM-Cap ETF-Usd 2.28% 191,908 $43.9M Add +10.3%
CVX Chevron Corp. 2.16% 263,681 $41.6M Add +1.9%
WMT Walmart Inc. 2.13% 680,356 $40.9M Reduce -1.9%
RTX RTX Corp. 1.86% 367,162 $35.8M Add +16.1%
MDT Medtronic PLC 1.80% 398,690 $34.7M Add +4.3%
AGNC AGNC Investment Corp. 1.69% 3,281,536 $32.5M Add +56.9%
HON Honeywell International Inc. 1.62% 151,776 $31.2M Add +2.9%
VFMO Vanguard US Momentum Factor 1.60% 203,320 $30.8M Add +76.0%
LH Laboratory CRP of Amer Hldgs 1.58% 139,237 $30.4M Add +2.1%
CRM Salesforce Inc. 1.58% 100,995 $30.4M Add +0.3%
SRE Sempra 1.40% 374,637 $26.9M Add +2.0%
EUSA iShares MSCI USA Equal Weigh 1.40% 295,363 $26.9M Add +9.6%
C Citigroup Inc. 1.35% 409,879 $25.9M Add +5.0%
GS Goldman Sachs Group Inc. 1.34% 61,815 $25.8M Add +2.5%
INTU Intuit Inc. 1.31% 38,745 $25.2M Add +2.9%
SBUX Starbucks Corp. 1.26% 265,737 $24.3M Add +2.0%
AMD Advanced Micro Devices 1.17% 125,039 $22.6M Add +3.0%
STZ Constellation Brands Inc. Class A 1.17% 82,683 $22.5M Add +2.9%
FDX FedEx Corp. 1.15% 76,201 $22.1M Add +2.8%
OTIS Otis Worldwide Corp. 1.13% 218,409 $21.7M Add +3.1%
ETN Eaton Corp. PLC 1.12% 69,248 $21.7M Reduce -20.2%
NFLX Netflix Inc. 1.12% 35,358 $21.5M Add +2.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.11% 563,008 $21.3M Add +0.6%
GIL Gildan Activewear Inc. 1.10% 570,195 $21.2M Add +2.4%
PGR Progressive Corp. 1.08% 100,589 $20.8M Reduce -35.4%
ANET Arista Networks Inc. 1.07% 70,849 $20.5M Reduce -29.1%
ADI Analog Devices Inc. 1.05% 101,959 $20.2M Add +0.3%
EOG EOG Resources Inc. 1.03% 155,070 $19.8M Add +3.5%
JNJ Johnson & Johnson 1.03% 125,208 $19.8M Add +0.8%
BDX Becton Dickinson and Co. 1.00% 77,615 $19.2M Add +3.1%
VRTX Vertex Pharmaceuticals Inc. 0.99% 45,693 $19.1M Add +2.6%
SCHW Schwab (charles) Corp. 0.99% 262,565 $19.0M Add +0.7%
V Visa Inc. Class A 0.98% 67,485 $18.8M Add +2.6%
TMUS T-Mobile US Inc. 0.97% 114,603 $18.7M Add +2.8%
CI The Cigna Group 0.96% 50,809 $18.5M Reduce -18.6%
FTNT Fortinet Inc. 0.95% 267,478 $18.3M Add +2.7%
CTVA Corteva Inc. 0.93% 310,771 $17.9M Add +4.0%
TRNO Terreno Realty Corp. 0.92% 265,809 $17.6M Add +0.7%
APTV Aptiv Irish Holdings Ltd. filed as APTIV PLC 0.91% 220,506 $17.6M Add +18.0%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.91% 113,713 $17.5M Add +54.4%
CVS CVS Health Corp. 0.91% 218,948 $17.5M Add +0.0%
SO The Southern Co. 0.88% 236,336 $17.0M Add +0.3%
ADBE Adobe Inc. 0.88% 33,553 $16.9M Reduce -0.2%
CSCO Cisco Systems Inc. 0.87% 336,454 $16.8M Add +19.7%
MU Micron Technology Inc. 0.87% 142,220 $16.8M Add +3.1%
ELAN Elanco Animal Health Inc. 0.82% 970,829 $15.8M Reduce -20.5%
NSC Norfolk Southern Corp. 0.82% 61,567 $15.7M Add +0.8%
MCHP Microchip Technology Inc. 0.81% 174,657 $15.7M New
CMCSA Comcast Corp. Class A 0.81% 359,416 $15.6M Add +0.6%
PM Philip Morris International 0.81% 169,912 $15.6M Add +2.2%
FUL H.B. Fuller Co. filed as FULLER H B CO 0.80% 193,175 $15.4M Add +2.9%
VPU Vanguard Utilities ETF 0.79% 106,898 $15.2M Add +94.2%
TRMB Trimble Inc. 0.78% 232,652 $15.0M Add +3.4%
EA Electronic Arts Inc. 0.77% 112,278 $14.9M Add +2.6%
LVS Las Vegas Sands Corp. 0.76% 284,748 $14.7M Add +1.1%
BMY Bristol-Myers Squibb Co. 0.76% 269,911 $14.6M Add +7.3%
CPT Camden Property Trust 0.75% 147,317 $14.5M Add +6.7%
AZN Astrazeneca PLC-Spons ADR 0.75% 213,005 $14.4M Add +4.1%
CUBE Cubesmart 0.75% 317,944 $14.4M Add +2.6%
BA The Boeing Co. 0.73% 72,638 $14.0M Add +1.0%
SLAB Silicon Laboratories Inc. 0.72% 96,136 $13.8M Add +7.4%
EXC Exelon Corp. 0.70% 357,012 $13.4M Add +3.3%
ALGN Align Technology Inc. 0.69% 40,295 $13.2M Add +9.7%
PYPL PayPal Holdings Inc. 0.67% 193,579 $13.0M Add +8.2%
FANG Diamondback Energy Inc. 0.65% 63,026 $12.5M Add +0.8%
PFE Pfizer Inc. 0.65% 448,234 $12.4M Add +32.6%
FIBK First Interstate Bancsys-A 0.62% 438,793 $11.9M Add +1.8%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.59% 132,628 $11.4M Add +45.1%
ITM Vaneck Intermediate Muni ETF 0.59% 244,547 $11.4M Reduce -1.0%
PFF iShares Preferred & Income S 0.55% 330,246 $10.6M Add +12.9%
VTEB Vanguard Tax-Exempt Bond ETF 0.54% 204,362 $10.3M Add +31.2%
PGNY Progyny Inc. 0.53% 267,290 $10.2M New
DT Dynatrace Inc. 0.51% 210,495 $9.8M New
COLB Columbia Banking System Inc. 0.47% 467,072 $9.0M Add +0.1%
WAFD Wafd Inc. 0.41% 268,571 $7.8M New
MUB iShares National Muni Bond E 0.34% 60,526 $6.5M Reduce -14.4%
MOS The Mosaic Co. 0.25% 149,032 $4.8M Add +0.8%
DGRO iShares Core Dividend Growth 0.25% 83,045 $4.8M Reduce -9.7%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.23% 89,108 $4.5M Add +52.5%
SHM SS SPDR N Ice St Muni ETF 0.23% 95,269 $4.5M Reduce -18.5%
FLOT iShares Floating Rate Bond E 0.09% 33,288 $1.7M Reduce -5.7%
VTI VG Morningstar TS MKT ETF-US 0.05% 3,818 $992K Reduce -35.3%
IGIB iShares 5-10Y Inv Grade Corp. 0.05% 18,376 $948K Add +0.5%
JPM JPMorgan Chase & Co. 0.05% 4,488 $899K Reduce -3.3%
GOOGL Alphabet Inc. Class A 0.04% 5,140 $776K Reduce -1.1%
ORCL Oracle Corp. 0.04% 6,065 $762K Reduce -16.2%
VCIT Vanguard Int-Term Corporate 0.04% 8,362 $673K Add +127.2%
CAT Caterpillar Inc. 0.03% 1,570 $575K No change
SYK Stryker Corp. 0.03% 1,535 $549K No change
COST Costco Wholesale Corp. 0.03% 719 $527K Add +2.9%
ABBV Abbvie Inc. 0.03% 2,870 $523K Reduce -7.3%
GM General Motors Co. 0.03% 10,675 $484K Reduce -4.5%
CMF iShares California Muni Bond 0.02% 7,887 $454K Add +41.8%
EQIX Equinix Inc. 0.02% 494 $408K No change
PEP Pepsico Inc. 0.02% 2,317 $405K No change
HD Home Depot Inc. 0.02% 1,019 $391K No change
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.02% 8,347 $381K Reduce -21.5%
MS Morgan Stanley 0.02% 3,623 $341K Add +2.1%
VOO Vanguard S&P 500 ETF 0.02% 709 $341K No change
ABT Abbott Laboratories 0.02% 2,975 $338K No change
IWV iShares Russell 3000 ETF 0.02% 1,025 $308K Reduce -22.4%
IXUS iShares Core Intl Stock ETF 0.02% 4,422 $300K Reduce -1.0%
NVDA Nvidia Corp. 0.02% 328 $296K Reduce -49.1%
IGSB iShares 1-5Y Inv Grade Corp. 0.01% 5,404 $277K Add +1.4%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.01% 960 $275K No change
AGG iShares Core U.S. Aggregate 0.01% 2,788 $273K Reduce -91.5%
DE Deere & Co. 0.01% 656 $269K No change
GBCI Glacier Bancorp Inc. 0.01% 5,723 $231K No change
MGC Vngrd Mrngstr MG Cap ETF-Usd 0.01% 1,091 $204K New
MEI Methode Electronics Inc. 0.01% 15,800 $192K New

Portfolio Sells Q4 2023 → Q1 2024
SPLK Splunk Inc. Sold out 0.00% −1.21
VWO Vanguard Ftse Emerging Marke Sold out 0.00% −1.13
PGR Progressive Corp. Reduce -35.4% 1.08% −0.34
ANET Arista Networks Inc. Reduce -29.1% 1.07% −0.28
ADBE Adobe Inc. Reduce -0.2% 0.88% −0.27
ELAN Elanco Animal Health Inc. Reduce -20.5% 0.82% −0.22
AGG iShares Core U.S. Aggregate Reduce -91.5% 0.01% −0.17
CI The Cigna Group Reduce -18.6% 0.96% −0.11
MUB iShares National Muni Bond E Reduce -14.4% 0.34% −0.10
SHM SS SPDR N Ice St Muni ETF Reduce -18.5% 0.23% −0.09
ITM Vaneck Intermediate Muni ETF Reduce -1.0% 0.59% −0.07
ETN Eaton Corp. PLC Reduce -20.2% 1.12% −0.07
DGRO iShares Core Dividend Growth Reduce -9.7% 0.25% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -35.3% 0.05% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.02
NOBL Proshares S&P 500 Dividend A Sold out 0.00% −0.02
FLOT iShares Floating Rate Bond E Reduce -5.7% 0.09% −0.01
NYF iShares New York Muni Bond E Sold out 0.00% −0.01
IUSB Ishr CR Unvrse Usd BD ETF-Ui Reduce -21.5% 0.02% −0.01
IWV iShares Russell 3000 ETF Reduce -22.4% 0.02% −0.00
ORCL Oracle Corp. Reduce -16.2% 0.04% −0.00
NVDA Nvidia Corp. Reduce -49.1% 0.02% −0.00
GOOGL Alphabet Inc. Class A Reduce -1.1% 0.04% −0.00
IXUS iShares Core Intl Stock ETF Reduce -1.0% 0.02% −0.00
ABBV Abbvie Inc. Reduce -7.3% 0.03% −0.00
JPM JPMorgan Chase & Co. Reduce -3.3% 0.05% +0.00
GM General Motors Co. Reduce -4.5% 0.03% +0.00
WMT Walmart Inc. Reduce -1.9% 2.13% +0.04
AMZN Amazon.com Inc. Reduce -2.4% 4.64% +0.23

Portfolio Buys Q4 2023 → Q1 2024
MCHP Microchip Technology Inc. New 0.81% +0.81
VFMO Vanguard US Momentum Factor Add +76.0% 1.60% +0.73
PGNY Progyny Inc. New 0.53% +0.53
AGNC AGNC Investment Corp. Add +56.9% 1.69% +0.51
DT Dynatrace Inc. New 0.51% +0.51
IDEV iShares Core MSCI Dev MKTS Add +15.6% 4.98% +0.47
WAFD Wafd Inc. New 0.41% +0.41
VPU Vanguard Utilities ETF Add +94.2% 0.79% +0.36
RTX RTX Corp. Add +16.1% 1.86% +0.34
EL Estee Lauder Companies Class A Add +54.4% 0.91% +0.29
C Citigroup Inc. Add +5.0% 1.35% +0.20
MU Micron Technology Inc. Add +3.1% 0.87% +0.20
IFF Intl Flavors & Fragrances Add +45.1% 0.59% +0.17
NFLX Netflix Inc. Add +2.9% 1.12% +0.16
VB Vanguard Most SM-Cap ETF-Usd Add +10.3% 2.28% +0.15
AMD Advanced Micro Devices Add +3.0% 1.17% +0.15
CTVA Corteva Inc. Add +4.0% 0.93% +0.11
ALGN Align Technology Inc. Add +9.7% 0.69% +0.11
MSFT Microsoft Corp. Add +0.8% 4.50% +0.10
FANG Diamondback Energy Inc. Add +0.8% 0.65% +0.09
EUSA iShares MSCI USA Equal Weigh Add +9.6% 1.40% +0.09
TRMB Trimble Inc. Add +3.4% 0.78% +0.09
PFE Pfizer Inc. Add +32.6% 0.65% +0.09
VTEB Vanguard Tax-Exempt Bond ETF Add +31.2% 0.54% +0.08
FTNT Fortinet Inc. Add +2.7% 0.95% +0.08
FDX FedEx Corp. Add +2.8% 1.15% +0.07
JMST JPM Ultra-Short Muni Income Add +52.5% 0.23% +0.07
CRM Salesforce Inc. Add +0.3% 1.58% +0.06
CSCO Cisco Systems Inc. Add +19.7% 0.87% +0.06
STZ Constellation Brands Inc. Class A Add +2.9% 1.17% +0.05
GIL Gildan Activewear Inc. Add +2.4% 1.10% +0.05
PYPL PayPal Holdings Inc. Add +8.2% 0.67% +0.04
OTIS Otis Worldwide Corp. Add +3.1% 1.13% +0.04
SLAB Silicon Laboratories Inc. Add +7.4% 0.72% +0.04
PFF iShares Preferred & Income S Add +12.9% 0.55% +0.03
BAC Bank of America Corp. Add +0.6% 1.11% +0.03
BMY Bristol-Myers Squibb Co. Add +7.3% 0.76% +0.02
VCIT Vanguard Int-Term Corporate Add +127.2% 0.04% +0.02
MGC Vngrd Mrngstr MG Cap ETF-Usd New 0.01% +0.01
MEI Methode Electronics Inc. New 0.01% +0.01
GS Goldman Sachs Group Inc. Add +2.5% 1.34% +0.01
CMF iShares California Muni Bond Add +41.8% 0.02% +0.01
MDT Medtronic PLC Add +4.3% 1.80% +0.00
COST Costco Wholesale Corp. Add +2.9% 0.03% +0.00
MS Morgan Stanley Add +2.1% 0.02% −0.00
IGSB iShares 1-5Y Inv Grade Corp. Add +1.4% 0.01% −0.00
V Visa Inc. Class A Add +2.6% 0.98% −0.00
IGIB iShares 5-10Y Inv Grade Corp. Add +0.5% 0.05% −0.01
EOG EOG Resources Inc. Add +3.5% 1.03% −0.01
NSC Norfolk Southern Corp. Add +0.8% 0.82% −0.01

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