Davidson Investment Advisors
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 30, 2025), Davidson Investment Advisors reported 120 stock positions worth $2.0 billion. Its top holding was iShares Core MSCI Dev MKTS (IDEV) at 5.3% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Apple (AAPL, 4.0%). Compared with Q4 2024, it opened 3 new positions, sold out of 5, added to 59 and reduced 43. The biggest buy was Nvidia (NVDA, shares +4808%) and the biggest sale Alphabet Class C (GOOG, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- GREAT FALLS, MT
- CIK
- 0001140771
- Portfolio Value
- $2.0B (Q1 2025)
- SEC Filing
- 0001140771-25-000001 ↗ filed Apr 30, 2025
Holdings Value
Holdings 120 stocks · $2.0B
| IDEV iShares Core MSCI Dev MKTS | 5.29% | 1,553,920 | $107.0M | Add +2.2% |
| MSFT Microsoft Corp. | 3.99% | 215,516 | $80.9M | Add +0.9% |
| AAPL Apple Inc. | 3.98% | 362,846 | $80.6M | Reduce -4.9% |
| AMZN Amazon.com Inc. | 3.91% | 416,047 | $79.2M | Reduce -7.9% |
| GOOG Alphabet Inc. Class C | 3.64% | 472,365 | $73.8M | Reduce -10.1% |
| RTX RTX Corp. | 2.41% | 368,581 | $48.8M | Reduce -1.4% |
| WMT Walmart Inc. | 2.39% | 551,080 | $48.4M | Reduce -0.3% |
| HON Honeywell International Inc. | 1.98% | 189,566 | $40.1M | Add +0.1% |
| LH Labcorp Holdings Inc. | 1.82% | 158,770 | $37.0M | Reduce -0.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.82% | 166,243 | $36.9M | Add +1.6% |
| CVX Chevron Corp. | 1.77% | 214,851 | $35.9M | Reduce -2.7% |
| MDT Medtronic PLC | 1.66% | 373,039 | $33.5M | Add +3.0% |
| AGNC AGNC Investment Corp. | 1.62% | 3,428,281 | $32.8M | Add +3.0% |
| C Citigroup Inc. | 1.57% | 447,928 | $31.8M | Add +3.0% |
| V Visa Inc. Class A | 1.55% | 89,395 | $31.3M | Add +3.0% |
| SRE Sempra | 1.53% | 433,307 | $30.9M | Add +12.8% |
| VRTX Vertex Pharmaceuticals Inc. | 1.51% | 62,883 | $30.5M | Add +2.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.48% | 181,032 | $30.1M | Add +88.6% |
| NFLX Netflix Inc. | 1.47% | 32,015 | $29.9M | Reduce -17.1% |
| GS Goldman Sachs Group Inc. | 1.39% | 51,559 | $28.2M | Add +2.1% |
| INTU Intuit Inc. | 1.30% | 42,987 | $26.4M | Add +2.5% |
| TMUS T-Mobile US Inc. | 1.30% | 98,696 | $26.3M | Reduce -19.7% |
| FTNT Fortinet Inc. | 1.29% | 270,697 | $26.1M | Add +2.3% |
| BDX Becton Dickinson and Co. | 1.26% | 111,416 | $25.5M | Add +4.3% |
| HD Home Depot Inc. | 1.19% | 65,956 | $24.2M | Add +2.5% |
| PGR Progressive Corp. | 1.19% | 84,890 | $24.0M | Reduce -16.7% |
| NVDA Nvidia Corp. | 1.18% | 220,275 | $23.9M | Add +4808.1% |
| CSCO Cisco Systems Inc. | 1.16% | 381,308 | $23.5M | Reduce -5.1% |
| AVGO Broadcom Inc. | 1.16% | 140,055 | $23.4M | Add +2.9% |
| ANET Arista Networks Inc. | 1.14% | 296,875 | $23.0M | Reduce -1.3% |
| CRM Salesforce Inc. | 1.13% | 85,188 | $22.9M | Add +2.5% |
| ETN Eaton Corp. PLC | 1.10% | 81,606 | $22.2M | Add +52.6% |
| EOG EOG Resources Inc. | 1.08% | 170,183 | $21.8M | Add +2.8% |
| CI The Cigna Group | 1.06% | 65,196 | $21.4M | Add +21.1% |
| FDX FedEx Corp. | 1.03% | 85,914 | $20.9M | Add +2.1% |
| DT Dynatrace Inc. | 1.01% | 434,718 | $20.5M | Add +2.9% |
| GIL Gildan Activewear Inc. | 0.98% | 448,005 | $19.8M | Add +2.4% |
| CPT Camden Property Trust | 0.97% | 161,089 | $19.7M | Add +2.5% |
| VFMO Vanguard US Momentum Factor | 0.95% | 127,332 | $19.3M | Reduce -0.6% |
| JNJ Johnson & Johnson | 0.95% | 115,446 | $19.1M | Reduce -3.2% |
| SCHW Schwab (charles) Corp. | 0.94% | 244,208 | $19.1M | Reduce -5.8% |
| BMY Bristol-Myers Squibb Co. | 0.90% | 300,366 | $18.3M | Add +3.1% |
| OTIS Otis Worldwide Corp. | 0.90% | 177,066 | $18.3M | Add +2.0% |
| ADI Analog Devices Inc. | 0.90% | 90,401 | $18.2M | Add +0.1% |
| EXC Exelon Corp. | 0.89% | 391,168 | $18.0M | Add +3.5% |
| EUSA iShares MSCI USA Equal Weigh | 0.89% | 191,947 | $18.0M | Reduce -5.8% |
| META Meta Platforms Inc. Class A | 0.87% | 30,537 | $17.6M | Add +7440.0% |
| TRNO Terreno Realty Corp. | 0.87% | 277,574 | $17.5M | Reduce -2.2% |
| PYPL PayPal Holdings Inc. | 0.86% | 267,962 | $17.5M | Reduce -0.7% |
| AZN Astrazeneca PLC-Spons ADR | 0.85% | 234,231 | $17.2M | Add +2.8% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.85% | 346,865 | $17.2M | Add +0.4% |
| UNH Unitedhealth Group Inc. | 0.83% | 32,059 | $16.8M | Add +70.0% |
| STZ Constellation Brands Inc. Class A | 0.83% | 91,421 | $16.8M | Add +5.1% |
| TRMB Trimble Inc. | 0.83% | 255,513 | $16.8M | Reduce -4.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.83% | 401,382 | $16.7M | Reduce -7.0% |
| SLAB Silicon Laboratories Inc. | 0.80% | 144,502 | $16.3M | Add +3.4% |
| ICE Intercontinental Exchange Inc. | 0.79% | 92,936 | $16.0M | Add +1.6% |
| ITM Vaneck Intermediate Muni ETF | 0.79% | 349,662 | $15.9M | Add +4.3% |
| SO The Southern Co. | 0.78% | 171,508 | $15.8M | Reduce -23.4% |
| PM Philip Morris International | 0.77% | 98,758 | $15.7M | Reduce -38.9% |
| CTVA Corteva Inc. | 0.77% | 246,853 | $15.5M | Reduce -26.1% |
| CUBE Cubesmart | 0.74% | 350,627 | $15.0M | Add +2.9% |
| BA The Boeing Co. | 0.74% | 87,487 | $14.9M | Add +1.4% |
| APTV Aptiv PLC | 0.71% | 242,427 | $14.4M | Add +11.8% |
| MU Micron Technology Inc. | 0.68% | 158,057 | $13.7M | Add +3.1% |
| CVS CVS Health Corp. | 0.67% | 198,833 | $13.5M | Add +23.2% |
| NSC Norfolk Southern Corp. | 0.64% | 54,976 | $13.0M | Reduce -0.2% |
| CMCSA Comcast Corp. Class A | 0.61% | 333,207 | $12.3M | Reduce -1.1% |
| FUL H.B. Fuller Co. filed as FULLER H B CO | 0.59% | 212,118 | $11.9M | Add +2.6% |
| FIBK First Interstate Bancsys-A | 0.57% | 402,384 | $11.5M | Add +2.0% |
| ADBE Adobe Inc. | 0.51% | 27,176 | $10.4M | Add +0.3% |
| PFE Pfizer Inc. | 0.51% | 410,519 | $10.4M | Add +17.1% |
| LVS Las Vegas Sands Corp. | 0.51% | 268,676 | $10.4M | Reduce -0.4% |
| QCOM Qualcomm Inc. | 0.51% | 66,878 | $10.3M | Add +2246.6% |
| ELAN Elanco Animal Health Inc. | 0.47% | 905,889 | $9.5M | Add +1.0% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.47% | 122,292 | $9.5M | Reduce -0.6% |
| FANG Diamondback Energy Inc. | 0.45% | 57,090 | $9.1M | Reduce -0.1% |
| WAFD Wafd Inc. | 0.43% | 304,256 | $8.7M | Add +3.0% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.42% | 169,057 | $8.6M | Add +6.5% |
| LOW Lowe's Cos Inc. | 0.42% | 36,281 | $8.5M | New |
| DGRO iShares Core Dividend Growth | 0.37% | 121,521 | $7.5M | Reduce -7.8% |
| VYM Vanguard High DVD Yield ETF | 0.36% | 56,197 | $7.2M | Reduce -0.3% |
| ITOT iShares Core S&P Total U.S. | 0.31% | 50,816 | $6.2M | Add +5.3% |
| MUB iShares National Muni Bond E | 0.29% | 56,625 | $6.0M | Add +14.6% |
| SHM SS SPDR N Ice St Muni ETF | 0.17% | 71,942 | $3.4M | Reduce -6.5% |
| PFF iShares Preferred & Income S | 0.16% | 108,382 | $3.3M | Add +2.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.06% | 4,672 | $1.3M | Add +22.4% |
| IJH iShares Core S&P Midcap ETF | 0.05% | 17,155 | $1.0M | No change |
| JPM JPMorgan Chase & Co. | 0.05% | 4,006 | $983K | Reduce -9.7% |
| CMF iShares California Muni Bond | 0.04% | 15,028 | $846K | Add +28.8% |
| VWO Vanguard Ftse Emerging Marke | 0.04% | 18,470 | $836K | Reduce -1.1% |
| COST Costco Wholesale Corp. | 0.04% | 760 | $719K | Reduce -1.0% |
| GOOGL Alphabet Inc. Class A | 0.04% | 4,618 | $714K | Reduce -2.8% |
| ABBV Abbvie Inc. | 0.03% | 2,869 | $601K | No change |
| GLD SPDR Gold Shares | 0.03% | 1,945 | $560K | No change |
| SYK Stryker Corp. | 0.02% | 1,355 | $504K | Reduce -2.5% |
| VOO Vanguard S&P 500 ETF | 0.02% | 925 | $475K | Add +30.5% |
| APO Apollo Global Management Inc. | 0.02% | 3,232 | $443K | New |
| ABT Abbott Laboratories | 0.02% | 3,028 | $402K | No change |
| MS Morgan Stanley | 0.02% | 3,427 | $400K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| GOOG Alphabet Inc. Class C | Reduce -10.1% | 3.64% | −1.22 |
| AMZN Amazon.com Inc. | Reduce -7.9% | 3.91% | −0.91 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.79 |
| AAPL Apple Inc. | Reduce -4.9% | 3.98% | −0.66 |
| ANET Arista Networks Inc. | Reduce -1.3% | 1.14% | −0.48 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.46 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.30 |
| PYPL PayPal Holdings Inc. | Reduce -0.7% | 0.86% | −0.26 |
| NFLX Netflix Inc. | Reduce -17.1% | 1.47% | −0.20 |
| PM Philip Morris International | Reduce -38.9% | 0.77% | −0.17 |
| LVS Las Vegas Sands Corp. | Reduce -0.4% | 0.51% | −0.16 |
| CTVA Corteva Inc. | Reduce -26.1% | 0.77% | −0.16 |
| SO The Southern Co. | Reduce -23.4% | 0.78% | −0.12 |
| BAC Bank of America Corp. | Reduce -7.0% | 0.83% | −0.09 |
| TRMB Trimble Inc. | Reduce -4.3% | 0.83% | −0.09 |
| VFMO Vanguard US Momentum Factor | Reduce -0.6% | 0.95% | −0.07 |
| EUSA iShares MSCI USA Equal Weigh | Reduce -5.8% | 0.89% | −0.06 |
| WMT Walmart Inc. | Reduce -0.3% | 2.39% | −0.04 |
| IFF Intl Flavors & Fragrances | Reduce -0.6% | 0.47% | −0.04 |
| DGRO iShares Core Dividend Growth | Reduce -7.8% | 0.37% | −0.02 |
| GBCI Glacier Bancorp Inc. | Sold out | 0.00% | −0.02 |
| TSLA Tesla Inc. | Reduce -35.2% | 0.01% | −0.02 |
| TMUS T-Mobile US Inc. | Reduce -19.7% | 1.30% | −0.02 |
| PFLC Pacific Financial Corp. | Sold out | 0.00% | −0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -2.8% | 0.04% | −0.01 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -6.5% | 0.17% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -1.1% | 0.61% | −0.01 |
| IWV iShares Russell 3000 ETF | Reduce -26.1% | 0.01% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -14.4% | 0.02% | −0.00 |
| FANG Diamondback Energy Inc. | Reduce -0.1% | 0.45% | −0.00 |
| PEP Pepsico Inc. | Reduce -28.2% | 0.01% | −0.00 |
| EQIX Equinix Inc. | Reduce -16.2% | 0.01% | −0.00 |
| JPM JPMorgan Chase & Co. | Reduce -9.7% | 0.05% | −0.00 |
| PGR Progressive Corp. | Reduce -16.7% | 1.19% | 0.00 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -0.2% | 0.02% | +0.00 |
| SYK Stryker Corp. | Reduce -2.5% | 0.02% | +0.00 |
| IXUS iShares Core Intl Stock ETF | Reduce -0.3% | 0.01% | +0.00 |
| COST Costco Wholesale Corp. | Reduce -1.0% | 0.04% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Reduce -1.1% | 0.04% | +0.00 |
| CSCO Cisco Systems Inc. | Reduce -5.1% | 1.16% | +0.01 |
| VYM Vanguard High DVD Yield ETF | Reduce -0.3% | 0.36% | +0.01 |
| SCHW Schwab (charles) Corp. | Reduce -5.8% | 0.94% | +0.01 |
| NSC Norfolk Southern Corp. | Reduce -0.2% | 0.64% | +0.01 |
| TRNO Terreno Realty Corp. | Reduce -2.2% | 0.87% | +0.05 |
| LH Labcorp Holdings Inc. | Reduce -0.1% | 1.82% | +0.05 |
| JNJ Johnson & Johnson | Reduce -3.2% | 0.95% | +0.11 |
| CVX Chevron Corp. | Reduce -2.7% | 1.77% | +0.22 |
| RTX RTX Corp. | Reduce -1.4% | 2.41% | +0.31 |
Portfolio Buys Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Add +4808.1% | 1.18% | +1.15 |
| META Meta Platforms Inc. Class A | Add +7440.0% | 0.87% | +0.86 |
| TSM Taiwan Semiconductor-SP ADR | Add +88.6% | 1.48% | +0.56 |
| IDEV iShares Core MSCI Dev MKTS | Add +2.2% | 5.29% | +0.52 |
| QCOM Qualcomm Inc. | Add +2246.6% | 0.51% | +0.49 |
| LOW Lowe's Cos Inc. | New | 0.42% | +0.42 |
| UNH Unitedhealth Group Inc. | Add +70.0% | 0.83% | +0.37 |
| CI The Cigna Group | Add +21.1% | 1.06% | +0.34 |
| CVS CVS Health Corp. | Add +23.2% | 0.67% | +0.31 |
| VRTX Vertex Pharmaceuticals Inc. | Add +2.8% | 1.51% | +0.31 |
| MDT Medtronic PLC | Add +3.0% | 1.66% | +0.25 |
| ETN Eaton Corp. PLC | Add +52.6% | 1.10% | +0.23 |
| V Visa Inc. Class A | Add +3.0% | 1.55% | +0.21 |
| EXC Exelon Corp. | Add +3.5% | 0.89% | +0.20 |
| AGNC AGNC Investment Corp. | Add +3.0% | 1.62% | +0.13 |
| ICE Intercontinental Exchange Inc. | Add +1.6% | 0.79% | +0.13 |
| AZN Astrazeneca PLC-Spons ADR | Add +2.8% | 0.85% | +0.12 |
| OTIS Otis Worldwide Corp. | Add +2.0% | 0.90% | +0.12 |
| BMY Bristol-Myers Squibb Co. | Add +3.1% | 0.90% | +0.10 |
| EOG EOG Resources Inc. | Add +2.8% | 1.08% | +0.09 |
| CPT Camden Property Trust | Add +2.5% | 0.97% | +0.09 |
| BDX Becton Dickinson and Co. | Add +4.3% | 1.26% | +0.08 |
| C Citigroup Inc. | Add +3.0% | 1.57% | +0.08 |
| APTV Aptiv PLC | Add +11.8% | 0.71% | +0.08 |
| FTNT Fortinet Inc. | Add +2.3% | 1.29% | +0.07 |
| PFE Pfizer Inc. | Add +17.1% | 0.51% | +0.06 |
| MU Micron Technology Inc. | Add +3.1% | 0.68% | +0.05 |
| MUB iShares National Muni Bond E | Add +14.6% | 0.29% | +0.04 |
| ITM Vaneck Intermediate Muni ETF | Add +4.3% | 0.79% | +0.03 |
| JMST JPM Ultra-Short Muni Income | Add +6.5% | 0.42% | +0.03 |
| CUBE Cubesmart | Add +2.9% | 0.74% | +0.03 |
| INTU Intuit Inc. | Add +2.5% | 1.30% | +0.02 |
| APO Apollo Global Management Inc. | New | 0.02% | +0.02 |
| VTI VG Morningstar TS MKT ETF-US | Add +22.4% | 0.06% | +0.01 |
| CMF iShares California Muni Bond | Add +28.8% | 0.04% | +0.01 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +0.4% | 0.85% | +0.01 |
| EDVR Endeavor Bancorp | New | 0.01% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +30.5% | 0.02% | +0.00 |
| ITOT iShares Core S&P Total U.S. | Add +5.3% | 0.31% | +0.00 |
| PFF iShares Preferred & Income S | Add +2.2% | 0.16% | +0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +22.9% | 0.01% | +0.00 |
| NYF iShares New York Muni Bond E | Add +14.2% | 0.01% | +0.00 |
| BA The Boeing Co. | Add +1.4% | 0.74% | −0.01 |
| GS Goldman Sachs Group Inc. | Add +2.1% | 1.39% | −0.01 |
| GIL Gildan Activewear Inc. | Add +2.4% | 0.98% | −0.02 |
| HD Home Depot Inc. | Add +2.5% | 1.19% | −0.02 |
| ADI Analog Devices Inc. | Add +0.1% | 0.90% | −0.03 |
| WAFD Wafd Inc. | Add +3.0% | 0.43% | −0.03 |
| SLAB Silicon Laboratories Inc. | Add +3.4% | 0.80% | −0.04 |
| FIBK First Interstate Bancsys-A | Add +2.0% | 0.57% | −0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 123 | $2.4B | IXUS, GOOG, AMZN, AAPL, TSM |
| Q1 2026Amended | 126 | $2.3B | IXUS, GOOG, AMZN, MSFT, AAPL |
| Q4 2025 | 119 | $2.4B | IXUS, GOOG, MSFT, AMZN, AAPL |
| Q3 2025 | 122 | $2.4B | IXUS, MSFT, GOOG, AMZN, AAPL |
| Q2 2025 | 121 | $2.2B | IXUS, MSFT, AMZN, GOOG, AAPL |
| Q1 2025 | 120 | $2.0B | IDEV, MSFT, AAPL, AMZN, GOOG |
| Q4 2024 | 122 | $2.1B | GOOG, AMZN, IDEV, AAPL, MSFT |
| Q3 2024 | 118 | $2.1B | IDEV, MSFT, AAPL, AMZN, GOOG |
| Q2 2024 | 116 | $1.9B | IDEV, AMZN, GOOG, MSFT, AAPL |
| Q1 2024 | 115 | $1.9B | IDEV, AMZN, MSFT, GOOG, AAPL |