Davidson Investment Advisors

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Davidson Investment Advisors reported 118 stock positions worth $2.1 billion. Its top holding was iShares Core MSCI Dev MKTS (IDEV) at 5.1% of the portfolio, followed by Microsoft (MSFT, 4.5%) and Apple (AAPL, 4.3%). Compared with Q2 2024, it opened 8 new positions, sold out of 6, added to 74 and reduced 21. The biggest buy was Home Depot (HD, shares +7572%) and the biggest sale an exit from Vanguard Utilities ETF (VPU).

Most Recent 13F
Q2 2026
Location
GREAT FALLS, MT
CIK
0001140771
Portfolio Value
$2.1B (Q3 2024)
SEC Filing
0001140771-24-000009 ↗ filed Nov 13, 2024

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 $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 118 stocks · $2.1B
IDEV iShares Core MSCI Dev MKTS 5.15% 1,505,675 $106.6M Add +3.5%
MSFT Microsoft Corp. 4.47% 215,039 $92.5M Add +3.7%
AAPL Apple Inc. 4.34% 385,649 $89.9M Add +2.8%
AMZN Amazon.com Inc. 4.31% 479,750 $89.4M Reduce -2.9%
GOOG Alphabet Inc. Class C 4.29% 531,606 $88.9M Add +3.6%
WMT Walmart Inc. 2.54% 650,539 $52.5M Reduce -3.6%
RTX RTX Corp. 2.20% 376,980 $45.7M Add +3.5%
HON Honeywell International Inc. 1.89% 189,825 $39.2M Add +3.5%
VB Vanguard Most SM-Cap ETF-Usd 1.87% 163,529 $38.8M Reduce -16.6%
MDT Medtronic PLC 1.79% 410,821 $37.0M Add +3.1%
CVX Chevron Corp. 1.75% 246,247 $36.3M Add +2.9%
AGNC AGNC Investment Corp. 1.73% 3,423,468 $35.8M Add +3.7%
LH Labcorp Holdings Inc. 1.72% 159,271 $35.6M Add +3.5%
SRE Sempra 1.56% 385,745 $32.3M Add +3.0%
ANET Arista Networks Inc. 1.38% 74,228 $28.5M Add +4.4%
FTNT Fortinet Inc. 1.37% 366,626 $28.4M Add +4.9%
C Citigroup Inc. 1.31% 431,998 $27.0M Add +4.3%
NFLX Netflix Inc. 1.30% 38,020 $27.0M Add +4.8%
PGR Progressive Corp. 1.25% 102,334 $26.0M Add +2.2%
BDX Becton Dickinson and Co. 1.25% 107,636 $26.0M Add +4.7%
INTU Intuit Inc. 1.24% 41,387 $25.7M Add +4.5%
HD Home Depot Inc. 1.23% 62,831 $25.5M Add +7571.7%
TMUS T-Mobile US Inc. 1.21% 121,395 $25.1M Add +4.5%
GS Goldman Sachs Group Inc. 1.19% 49,700 $24.6M Reduce -20.5%
V Visa Inc. Class A 1.13% 85,371 $23.5M Add +20.3%
FDX FedEx Corp. 1.10% 83,025 $22.7M Add +4.5%
STZ Constellation Brands Inc. Class A 1.09% 87,753 $22.6M Add +4.0%
VRTX Vertex Pharmaceuticals Inc. 1.09% 48,530 $22.6M Add +4.7%
ADI Analog Devices Inc. 1.09% 97,996 $22.6M Reduce -1.1%
CRM Salesforce Inc. 1.08% 81,993 $22.4M Add +4.7%
AMD Advanced Micro Devices 1.06% 133,486 $21.9M Add +5.1%
CSCO Cisco Systems Inc. 1.04% 404,876 $21.5M Add +22.3%
SO The Southern Co. 1.01% 231,614 $20.9M Add +0.5%
DT Dynatrace Inc. 1.00% 388,319 $20.8M Add +5.2%
VFMO Vanguard US Momentum Factor 1.00% 128,891 $20.7M Reduce -37.9%
PYPL PayPal Holdings Inc. 1.00% 265,761 $20.7M Add +24.2%
TRNO Terreno Realty Corp. 0.98% 304,572 $20.4M Add +0.9%
GIL Gildan Activewear Inc. 0.98% 431,683 $20.3M Reduce -25.7%
EOG EOG Resources Inc. 0.98% 164,672 $20.2M Add +4.4%
PM Philip Morris International 0.98% 166,414 $20.2M Add +0.8%
EUSA iShares MSCI USA Equal Weigh 0.97% 210,858 $20.2M Reduce -31.3%
JNJ Johnson & Johnson 0.97% 124,066 $20.1M Add +1.1%
CTVA Corteva Inc. 0.94% 330,347 $19.4M Add +4.5%
CPT Camden Property Trust 0.93% 155,572 $19.2M Add +3.8%
MCHP Microchip Technology Inc. 0.92% 237,366 $19.1M Add +5.4%
NSC Norfolk Southern Corp. 0.91% 75,879 $18.9M Add +2.2%
CI The Cigna Group 0.89% 53,287 $18.5M Add +4.1%
CUBE Cubesmart 0.88% 336,962 $18.1M Add +4.5%
OTIS Otis Worldwide Corp. 0.86% 170,732 $17.7M Add +4.4%
TRMB Trimble Inc. 0.85% 283,959 $17.6M Add +2.2%
AZN Astrazeneca PLC-Spons ADR 0.85% 225,679 $17.6M Add +4.6%
ETN Eaton Corp. PLC 0.84% 52,410 $17.4M Add +4.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.83% 434,040 $17.2M Reduce -21.0%
AVGO Broadcom Inc. 0.83% 99,229 $17.1M New
SCHW Schwab (charles) Corp. 0.82% 262,534 $17.0M Add +2.1%
APTV Aptiv Irish Holdings Ltd. filed as APTIV PLC 0.81% 234,373 $16.9M Add +5.3%
FUL H.B. Fuller Co. filed as FULLER H B CO 0.78% 203,526 $16.2M Add +4.5%
SLAB Silicon Laboratories Inc. 0.77% 138,392 $16.0M Add +5.3%
MU Micron Technology Inc. 0.76% 151,493 $15.7M Add +4.3%
VTEB Vanguard Tax-Exempt Bond ETF 0.75% 302,980 $15.5M Add +26.1%
EXC Exelon Corp. 0.74% 376,329 $15.3M Add +4.5%
ADBE Adobe Inc. 0.73% 29,173 $15.1M Reduce -12.3%
CMCSA Comcast Corp. Class A 0.73% 361,573 $15.1M Add +2.4%
BMY Bristol-Myers Squibb Co. 0.72% 287,537 $14.9M Add +4.7%
ITM Vaneck Intermediate Muni ETF 0.71% 311,952 $14.6M Add +14.6%
LVS Las Vegas Sands Corp. 0.70% 287,620 $14.5M Add +2.3%
ELAN Elanco Animal Health Inc. 0.69% 969,386 $14.2M Add +2.0%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.68% 133,774 $14.0M Add +2.3%
CVS CVS Health Corp. 0.67% 220,354 $13.9M Add +3.0%
FIBK First Interstate Bancsys-A 0.64% 434,832 $13.3M Add +2.0%
PFE Pfizer Inc. 0.63% 450,948 $13.1M Add +2.0%
COLB Columbia Banking System Inc. 0.58% 462,336 $12.1M Add +0.4%
ALGN Align Technology Inc. 0.56% 45,596 $11.6M Add +3.5%
BA The Boeing Co. 0.54% 73,218 $11.1M Add +2.4%
FANG Diamondback Energy Inc. 0.51% 61,677 $10.6M Add +0.8%
ICE Intercontinental Exchange Inc. 0.51% 65,609 $10.5M New
WAFD Wafd Inc. 0.49% 290,326 $10.1M Add +3.8%
DGRO iShares Core Dividend Growth 0.44% 145,670 $9.1M Add +79.1%
MOS The Mosaic Co. 0.39% 298,646 $8.0M Add +3.1%
VYM Vanguard High DVD Yield ETF 0.36% 58,289 $7.5M New
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.31% 127,246 $6.5M Add +29.1%
ITOT iShares Core S&P Total U.S. 0.29% 47,609 $6.0M New
MUB iShares National Muni Bond E 0.28% 53,731 $5.8M Reduce -3.9%
SHM SS SPDR N Ice St Muni ETF 0.18% 76,879 $3.7M Reduce -5.7%
PFF iShares Preferred & Income S 0.17% 108,479 $3.6M Reduce -67.9%
VTI VG Morningstar TS MKT ETF-US 0.05% 3,818 $1.1M No change
JPM JPMorgan Chase & Co. 0.04% 4,303 $907K Add +2.4%
GOOGL Alphabet Inc. Class A 0.04% 4,410 $731K Reduce -0.5%
COST Costco Wholesale Corp. 0.03% 735 $651K Add +3.4%
CMF iShares California Muni Bond 0.03% 11,100 $645K Reduce -3.8%
ABBV Abbvie Inc. 0.03% 2,870 $567K No change
VCIT Vanguard Int-Term Corporate 0.03% 6,420 $538K No change
QCOM Qualcomm Inc. 0.03% 3,100 $527K Reduce -11.1%
VWO Vanguard Ftse Emerging Marke 0.02% 10,477 $501K Add +2.0%
CAT Caterpillar Inc. 0.02% 1,270 $497K No change
SYK Stryker Corp. 0.02% 1,360 $491K Add +5.8%
TSLA Tesla Inc. 0.02% 1,470 $385K New
GBCI Glacier Bancorp Inc. 0.02% 8,348 $382K No change
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.02% 8,057 $380K No change
MS Morgan Stanley 0.02% 3,599 $375K Reduce -0.7%

Show all 118 holdings

Portfolio Sells Q2 2024 → Q3 2024
VPU Vanguard Utilities ETF Sold out 0.00% −0.83
SBUX Starbucks Corp. Sold out 0.00% −0.65
EL Estee Lauder Companies Class A Sold out 0.00% −0.64
VFMO Vanguard US Momentum Factor Reduce -37.9% 1.00% −0.60
AMZN Amazon.com Inc. Reduce -2.9% 4.31% −0.60
EUSA iShares MSCI USA Equal Weigh Reduce -31.3% 0.97% −0.42
PGNY Progyny Inc. Sold out 0.00% −0.42
PFF iShares Preferred & Income S Reduce -67.9% 0.17% −0.38
VB Vanguard Most SM-Cap ETF-Usd Reduce -16.6% 1.87% −0.33
BAC Bank of America Corp. Reduce -21.0% 0.83% −0.29
GS Goldman Sachs Group Inc. Reduce -20.5% 1.19% −0.27
ADBE Adobe Inc. Reduce -12.3% 0.73% −0.22
GIL Gildan Activewear Inc. Reduce -25.7% 0.98% −0.15
FLOT iShares Floating Rate Bond E Sold out 0.00% −0.09
ADI Analog Devices Inc. Reduce -1.1% 1.09% −0.07
MUB iShares National Muni Bond E Reduce -3.9% 0.28% −0.02
SHM SS SPDR N Ice St Muni ETF Reduce -5.7% 0.18% −0.02
AGG iShares Core U.S. Aggregate Sold out 0.00% −0.01
QCOM Qualcomm Inc. Reduce -11.1% 0.03% −0.01
GOOGL Alphabet Inc. Class A Reduce -0.5% 0.04% −0.01
CMF iShares California Muni Bond Reduce -3.8% 0.03% −0.00
IGSB iShares 1-5Y Inv Grade Corp. Reduce -4.0% 0.01% −0.00
EQIX Equinix Inc. Reduce -13.3% 0.01% −0.00
IXUS iShares Core Intl Stock ETF Reduce -4.3% 0.01% −0.00
VOO Vanguard S&P 500 ETF Reduce -0.6% 0.02% −0.00
MS Morgan Stanley Reduce -0.7% 0.02% 0.00
WMT Walmart Inc. Reduce -3.6% 2.54% +0.18

Portfolio Buys Q2 2024 → Q3 2024
HD Home Depot Inc. Add +7571.7% 1.23% +1.21
AVGO Broadcom Inc. New 0.83% +0.83
ICE Intercontinental Exchange Inc. New 0.51% +0.51
PYPL PayPal Holdings Inc. Add +24.2% 1.00% +0.36
VYM Vanguard High DVD Yield ETF New 0.36% +0.36
RTX RTX Corp. Add +3.5% 2.20% +0.32
ITOT iShares Core S&P Total U.S. New 0.29% +0.29
FTNT Fortinet Inc. Add +4.9% 1.37% +0.29
AAPL Apple Inc. Add +2.8% 4.34% +0.27
IDEV iShares Core MSCI Dev MKTS Add +3.5% 5.15% +0.23
CSCO Cisco Systems Inc. Add +22.3% 1.04% +0.23
DGRO iShares Core Dividend Growth Add +79.1% 0.44% +0.20
PGR Progressive Corp. Add +2.2% 1.25% +0.18
V Visa Inc. Class A Add +20.3% 1.13% +0.17
MDT Medtronic PLC Add +3.1% 1.79% +0.17
TMUS T-Mobile US Inc. Add +4.5% 1.21% +0.16
DT Dynatrace Inc. Add +5.2% 1.00% +0.15
BMY Bristol-Myers Squibb Co. Add +4.7% 0.72% +0.13
VTEB Vanguard Tax-Exempt Bond ETF Add +26.1% 0.75% +0.13
CUBE Cubesmart Add +4.5% 0.88% +0.13
PM Philip Morris International Add +0.8% 0.98% +0.11
COLB Columbia Banking System Inc. Add +0.4% 0.58% +0.11
AGNC AGNC Investment Corp. Add +3.7% 1.73% +0.11
LH Labcorp Holdings Inc. Add +3.5% 1.72% +0.11
EXC Exelon Corp. Add +4.5% 0.74% +0.10
ANET Arista Networks Inc. Add +4.4% 1.38% +0.09
SRE Sempra Add +3.0% 1.56% +0.09
NSC Norfolk Southern Corp. Add +2.2% 0.91% +0.09
SO The Southern Co. Add +0.5% 1.01% +0.09
CPT Camden Property Trust Add +3.8% 0.93% +0.09
WAFD Wafd Inc. Add +3.8% 0.49% +0.08
ITM Vaneck Intermediate Muni ETF Add +14.6% 0.71% +0.06
TRNO Terreno Realty Corp. Add +0.9% 0.98% +0.06
CTVA Corteva Inc. Add +4.5% 0.94% +0.06
LVS Las Vegas Sands Corp. Add +2.3% 0.70% +0.06
JMST JPM Ultra-Short Muni Income Add +29.1% 0.31% +0.06
TRMB Trimble Inc. Add +2.2% 0.85% +0.05
JNJ Johnson & Johnson Add +1.1% 0.97% +0.05
CRM Salesforce Inc. Add +4.7% 1.08% +0.05
OTIS Otis Worldwide Corp. Add +4.4% 0.86% +0.05
NFLX Netflix Inc. Add +4.8% 1.30% +0.04
IFF Intl Flavors & Fragrances Add +2.3% 0.68% +0.04
FIBK First Interstate Bancsys-A Add +2.0% 0.64% +0.03
ETN Eaton Corp. PLC Add +4.1% 0.84% +0.03
SLAB Silicon Laboratories Inc. Add +5.3% 0.77% +0.02
CI The Cigna Group Add +4.1% 0.89% +0.02
CVS CVS Health Corp. Add +3.0% 0.67% +0.02
TSLA Tesla Inc. New 0.02% +0.02
CMCSA Comcast Corp. Class A Add +2.4% 0.73% +0.02
BDX Becton Dickinson and Co. Add +4.7% 1.25% +0.02

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