Davidson Investment Advisors

Name: DAVIDSON INVESTMENT ADVISORS 13F holdings, Q2 2025
Creator: DAVIDSON INVESTMENT ADVISORS
Published: 2025-07-28

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 28, 2025), Davidson Investment Advisors reported 121 stock positions worth $2.2 billion. Its top holding was iShares Core Intl Stock ETF (IXUS) at 5.9% of the portfolio, followed by Microsoft (MSFT, 4.9%) and Amazon.com (AMZN, 4.3%). Compared with Q1 2025, it opened 5 new positions, sold out of 4, added to 75 and reduced 26. The biggest buy was iShares Core Intl Stock ETF (IXUS, shares +41164%) and the biggest sale iShares Core MSCI Dev MKTS (IDEV, shares −84%).

Most Recent 13F: Q2 2026
Location: GREAT FALLS, MT
CIK: 0001140771
Portfolio Value: $2.2B (Q2 2025)
SEC Filing: 0001140771-25-000002 ↗ filed Jul 28, 2025

Holdings Value

Holdings 121 stocks · $2.2B


IXUS iShares Core Intl Stock ETF	5.91%	1,701,327	$131.5M	Add +41164.3%
MSFT Microsoft Corp.	4.86%	217,232	$108.1M	Add +0.8%
AMZN Amazon.com Inc.	4.31%	437,086	$95.9M	Add +5.1%
GOOG Alphabet Inc. Class C	3.79%	474,914	$84.2M	Add +0.5%
AAPL Apple Inc.	3.34%	362,628	$74.4M	Reduce -0.1%
RTX RTX Corp.	2.39%	364,458	$53.2M	Reduce -1.1%
TSM Taiwan Semiconductor-SP ADR	2.21%	216,669	$49.1M	Add +19.7%
HON Honeywell International Inc.	2.00%	190,808	$44.4M	Add +0.7%
LH Labcorp Holdings Inc.	1.88%	159,630	$41.9M	Add +0.5%
AVGO Broadcom Inc.	1.75%	140,980	$38.9M	Add +0.7%
C Citigroup Inc.	1.72%	448,905	$38.2M	Add +0.2%
GS Goldman Sachs Group Inc.	1.65%	51,714	$36.6M	Add +0.3%
NFLX Netflix Inc.	1.64%	27,223	$36.5M	Reduce -15.0%
NVDA Nvidia Corp.	1.58%	222,191	$35.1M	Add +0.9%
AGNC AGNC Investment Corp.	1.58%	3,813,681	$35.0M	Add +11.2%
INTU Intuit Inc.	1.54%	43,399	$34.2M	Add +1.0%
SRE Sempra	1.49%	438,774	$33.2M	Add +1.3%
MDT Medtronic PLC	1.47%	375,859	$32.8M	Add +0.8%
V Visa Inc. Class A	1.43%	89,327	$31.7M	Reduce -0.1%
CVX Chevron Corp.	1.39%	215,495	$30.9M	Add +0.3%
ANET Arista Networks Inc.	1.38%	299,571	$30.6M	Add +0.9%
ETN Eaton Corp. PLC	1.33%	82,922	$29.6M	Add +1.6%
META Meta Platforms Inc. Class A	1.32%	39,761	$29.3M	Add +30.2%
FTNT Fortinet Inc.	1.30%	273,670	$28.9M	Add +1.1%
VRTX Vertex Pharmaceuticals Inc.	1.27%	63,689	$28.4M	Add +1.3%
WMT Walmart Inc.	1.23%	279,751	$27.4M	Reduce -49.2%
CSCO Cisco Systems Inc.	1.18%	377,906	$26.2M	Reduce -0.9%
HD Home Depot Inc.	1.10%	66,612	$24.4M	Add +1.0%
DT Dynatrace Inc.	1.09%	440,047	$24.3M	Add +1.2%
TMUS T-Mobile US Inc.	1.07%	99,839	$23.8M	Add +1.2%
PGR Progressive Corp.	1.03%	85,657	$22.9M	Add +0.9%
VFMO Vanguard US Momentum Factor	1.03%	132,299	$22.8M	Add +3.9%
CRM Salesforce Inc.	1.03%	83,695	$22.8M	Reduce -1.8%
SCHW Schwab (charles) Corp.	1.01%	247,078	$22.5M	Add +1.2%
GIL Gildan Activewear Inc.	1.00%	452,753	$22.3M	Add +1.1%
CI The Cigna Group	0.98%	66,080	$21.8M	Add +1.4%
ADI Analog Devices Inc.	0.98%	91,581	$21.8M	Add +1.3%
SLAB Silicon Laboratories Inc.	0.97%	145,982	$21.5M	Add +1.0%
EOG EOG Resources Inc.	0.93%	172,238	$20.6M	Add +1.2%
PYPL PayPal Holdings Inc.	0.91%	271,370	$20.2M	Add +1.3%
STZ Constellation Brands Inc. Class A	0.89%	121,073	$19.7M	Add +32.4%
EUSA iShares MSCI USA Equal Weigh	0.88%	197,975	$19.6M	Add +3.1%
TRMB Trimble Inc.	0.88%	256,470	$19.5M	Add +0.4%
QCOM Qualcomm Inc.	0.87%	121,052	$19.3M	Add +81.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.86%	405,268	$19.2M	Add +1.0%
FDX FedEx Corp.	0.86%	84,065	$19.1M	Reduce -2.1%
IDEV iShares Core MSCI Dev MKTS	0.86%	250,920	$19.1M	Reduce -83.8%
CTVA Corteva Inc.	0.84%	250,008	$18.6M	Add +1.3%
BA The Boeing Co.	0.83%	88,478	$18.5M	Add +1.1%
BDX Becton Dickinson and Co.	0.83%	106,930	$18.4M	Reduce -4.0%
BRBR Bellring Brands Inc.	0.83%	316,895	$18.4M	New
CPT Camden Property Trust	0.82%	161,435	$18.2M	Add +0.2%
OTIS Otis Worldwide Corp.	0.80%	179,159	$17.7M	Add +1.2%
VTEB Vanguard Tax-Exempt Bond ETF	0.80%	361,298	$17.7M	Add +4.2%
CVS CVS Health Corp.	0.80%	256,566	$17.7M	Add +29.0%
PM Philip Morris International	0.79%	96,597	$17.6M	Reduce -2.2%
ICE Intercontinental Exchange Inc.	0.77%	93,928	$17.2M	Add +1.1%
EXC Exelon Corp.	0.77%	395,160	$17.2M	Add +1.0%
APTV Aptiv PLC	0.75%	244,333	$16.7M	Add +0.8%
AZN Astrazeneca PLC-Spons ADR	0.74%	236,390	$16.5M	Add +0.9%
CMCSA Comcast Corp. Class A	0.73%	457,691	$16.3M	Add +37.4%
SO The Southern Co.	0.72%	173,413	$15.9M	Add +1.1%
ITM Vaneck Intermediate Muni ETF	0.72%	350,047	$15.9M	Add +0.1%
TRNO Terreno Realty Corp.	0.71%	280,520	$15.7M	Add +1.1%
LOW Lowe's Cos Inc.	0.70%	70,387	$15.6M	Add +94.0%
CUBE Cubesmart	0.68%	355,741	$15.1M	Add +1.5%
PFE Pfizer Inc.	0.65%	596,252	$14.5M	Add +45.2%
NSC Norfolk Southern Corp.	0.64%	55,618	$14.2M	Add +1.2%
BMY Bristol-Myers Squibb Co.	0.61%	290,861	$13.5M	Reduce -3.2%
ELAN Elanco Animal Health Inc.	0.59%	914,003	$13.1M	Add +0.9%
FUL H.B. Fuller Co. filed as FULLER H B CO	0.56%	206,806	$12.4M	Reduce -2.5%
LVS Las Vegas Sands Corp.	0.53%	271,633	$11.8M	Add +1.1%
FIBK First Interstate Bancsys-A	0.53%	407,082	$11.7M	Add +1.2%
ADBE Adobe Inc.	0.48%	27,453	$10.6M	Add +1.0%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F	0.45%	194,877	$9.9M	Add +15.3%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA	0.41%	123,816	$9.1M	Add +1.3%
LIN Linde PLC	0.41%	19,286	$9.0M	New
WAFD Wafd Inc.	0.40%	305,835	$9.0M	Add +0.5%
FANG Diamondback Energy Inc.	0.36%	57,759	$7.9M	Add +1.2%
DGRO iShares Core Dividend Growth	0.35%	120,349	$7.7M	Reduce -1.0%
VYM Vanguard High DVD Yield ETF	0.34%	56,479	$7.5M	Add +0.5%
ITOT iShares Core S&P Total U.S.	0.31%	50,605	$6.8M	Reduce -0.4%
VB Vanguard Most SM-Cap ETF-Usd	0.30%	28,047	$6.6M	Reduce -83.1%
MUB iShares National Muni Bond E	0.26%	55,502	$5.8M	Reduce -2.0%
PFF iShares Preferred & Income S	0.15%	109,864	$3.4M	Add +1.4%
SHM SS SPDR N Ice St Muni ETF	0.14%	63,789	$3.1M	Reduce -11.3%
VTI VG Morningstar TS MKT ETF-US	0.06%	4,672	$1.4M	No change
CMF iShares California Muni Bond	0.05%	21,585	$1.2M	Add +43.6%
JPM JPMorgan Chase & Co.	0.05%	4,093	$1.2M	Add +2.2%
IJH iShares Core S&P Midcap ETF	0.05%	17,719	$1.1M	Add +3.3%
JNJ Johnson & Johnson	0.04%	6,417	$980K	Reduce -94.4%
VWO Vanguard Ftse Emerging Marke	0.04%	18,470	$914K	No change
GOOGL Alphabet Inc. Class A	0.04%	4,698	$828K	Add +1.7%
COST Costco Wholesale Corp.	0.03%	760	$752K	No change
VTHR Vanguard Russell 3000	0.03%	2,424	$661K	New
GLD SPDR Gold Shares	0.03%	1,945	$593K	No change
IUSB Ishr CR Unvrse Usd BD ETF-Ui	0.02%	11,678	$540K	Add +42.4%
SYK Stryker Corp.	0.02%	1,355	$536K	No change
ABBV Abbvie Inc.	0.02%	2,869	$533K	No change
CAT Caterpillar Inc.	0.02%	1,299	$504K	Add +8.5%

Show all 121 holdings

Portfolio Sells Q1 2025 → Q2 2025


IDEV iShares Core MSCI Dev MKTS	Reduce -83.8%	0.86%	−4.43
VB Vanguard Most SM-Cap ETF-Usd	Reduce -83.1%	0.30%	−1.52
WMT Walmart Inc.	Reduce -49.2%	1.23%	−1.16
JNJ Johnson & Johnson	Reduce -94.4%	0.04%	−0.90
UNH Unitedhealth Group Inc.	Sold out	0.00%	−0.83
MU Micron Technology Inc.	Reduce -99.0%	0.01%	−0.67
AAPL Apple Inc.	Reduce -0.1%	3.34%	−0.64
BDX Becton Dickinson and Co.	Reduce -4.0%	0.83%	−0.43
BMY Bristol-Myers Squibb Co.	Reduce -3.2%	0.61%	−0.30
FDX FedEx Corp.	Reduce -2.1%	0.86%	−0.18
V Visa Inc. Class A	Reduce -0.1%	1.43%	−0.12
CRM Salesforce Inc.	Reduce -1.8%	1.03%	−0.10
MUB iShares National Muni Bond E	Reduce -2.0%	0.26%	−0.03
SHM SS SPDR N Ice St Muni ETF	Reduce -11.3%	0.14%	−0.03
FUL H.B. Fuller Co.	Reduce -2.5%	0.56%	−0.03
DGRO iShares Core Dividend Growth	Reduce -1.0%	0.35%	−0.02
RTX RTX Corp.	Reduce -1.1%	2.39%	−0.02
COLB Columbia Banking System Inc.	Sold out	0.00%	−0.01
PEP Pepsico Inc.	Sold out	0.00%	−0.01
EDVR Endeavor Bancorp	Sold out	0.00%	−0.01
VOO Vanguard S&P 500 ETF	Reduce -13.0%	0.02%	−0.00
NYF iShares New York Muni Bond E	Reduce -5.0%	0.01%	−0.00
TSLA Tesla Inc.	Reduce -19.1%	0.01%	−0.00
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -10.6%	0.01%	−0.00
MGC Vngrd Mrngstr MG Cap ETF-Usd	Reduce -9.6%	0.01%	−0.00
MGK Vngrd Mrgstr MG CP GR ETF-Ui	Reduce -8.2%	0.01%	−0.00
ITOT iShares Core S&P Total U.S.	Reduce -0.4%	0.31%	+0.00
CSCO Cisco Systems Inc.	Reduce -0.9%	1.18%	+0.02
PM Philip Morris International	Reduce -2.2%	0.79%	+0.02
NFLX Netflix Inc.	Reduce -15.0%	1.64%	+0.16

Portfolio Buys Q1 2025 → Q2 2025


IXUS iShares Core Intl Stock ETF	Add +41164.3%	5.91%	+5.90
MSFT Microsoft Corp.	Add +0.8%	4.86%	+0.86
BRBR Bellring Brands Inc.	New	0.83%	+0.83
TSM Taiwan Semiconductor-SP ADR	Add +19.7%	2.21%	+0.72
AVGO Broadcom Inc.	Add +0.7%	1.75%	+0.59
META Meta Platforms Inc. Class A	Add +30.2%	1.32%	+0.45
LIN Linde PLC	New	0.41%	+0.41
AMZN Amazon.com Inc.	Add +5.1%	4.31%	+0.40
NVDA Nvidia Corp.	Add +0.9%	1.58%	+0.40
QCOM Qualcomm Inc.	Add +81.0%	0.87%	+0.36
LOW Lowe's Cos Inc.	Add +94.0%	0.70%	+0.28
GS Goldman Sachs Group Inc.	Add +0.3%	1.65%	+0.25
ANET Arista Networks Inc.	Add +0.9%	1.38%	+0.24
ETN Eaton Corp. PLC	Add +1.6%	1.33%	+0.24
INTU Intuit Inc.	Add +1.0%	1.54%	+0.23
SLAB Silicon Laboratories Inc.	Add +1.0%	0.97%	+0.16
C Citigroup Inc.	Add +0.2%	1.72%	+0.15
GOOG Alphabet Inc. Class C	Add +0.5%	3.79%	+0.14
PFE Pfizer Inc.	Add +45.2%	0.65%	+0.14
CVS CVS Health Corp.	Add +29.0%	0.80%	+0.13
CMCSA Comcast Corp. Class A	Add +37.4%	0.73%	+0.13
ELAN Elanco Animal Health Inc.	Add +0.9%	0.59%	+0.12
BA The Boeing Co.	Add +1.1%	0.83%	+0.10
DT Dynatrace Inc.	Add +1.2%	1.09%	+0.08
ADI Analog Devices Inc.	Add +1.3%	0.98%	+0.08
VFMO Vanguard US Momentum Factor	Add +3.9%	1.03%	+0.07
CTVA Corteva Inc.	Add +1.3%	0.84%	+0.07
SCHW Schwab (charles) Corp.	Add +1.2%	1.01%	+0.07
LH Labcorp Holdings Inc.	Add +0.5%	1.88%	+0.06
STZ Constellation Brands Inc. Class A	Add +32.4%	0.89%	+0.06
TRMB Trimble Inc.	Add +0.4%	0.88%	+0.05
PYPL PayPal Holdings Inc.	Add +1.3%	0.91%	+0.04
APTV Aptiv PLC	Add +0.8%	0.75%	+0.04
BAC Bank of America Corp.	Add +1.0%	0.86%	+0.04
VTHR Vanguard Russell 3000	New	0.03%	+0.03
GIL Gildan Activewear Inc.	Add +1.1%	1.00%	+0.02
JMST JPM Ultra-Short Muni Income	Add +15.3%	0.45%	+0.02
LVS Las Vegas Sands Corp.	Add +1.1%	0.53%	+0.02
HON Honeywell International Inc.	Add +0.7%	2.00%	+0.02
FTNT Fortinet Inc.	Add +1.1%	1.30%	+0.01
CMF iShares California Muni Bond	Add +43.6%	0.05%	+0.01
LLY Eli Lilly & Co.	New	0.01%	+0.01
VEA Vanguard Ftse Developed ETF	New	0.01%	+0.01
IUSB Ishr CR Unvrse Usd BD ETF-Ui	Add +42.4%	0.02%	+0.01
JPM JPMorgan Chase & Co.	Add +2.2%	0.05%	+0.00
CAT Caterpillar Inc.	Add +8.5%	0.02%	+0.00
DE Deere & Co.	Add +21.3%	0.01%	+0.00
GOOGL Alphabet Inc. Class A	Add +1.7%	0.04%	+0.00
BRK.B Berkshire Hathaway Inc. Class B	Add +22.0%	0.01%	+0.00
IJH iShares Core S&P Midcap ETF	Add +3.3%	0.05%	0.00

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