Davidson Investment Advisors
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Davidson Investment Advisors reported 119 stock positions worth $2.4 billion. Its top holding was iShares Core Intl Stock ETF (IXUS) at 7.3% of the portfolio, followed by Alphabet Class C (GOOG, 4.9%) and Microsoft (MSFT, 4.3%). Compared with Q3 2025, it opened 2 new positions, sold out of 6, added to 54 and reduced 52. The biggest buy was Hyatt Hotels Class A (H, shares +287%) and the biggest sale an exit from Aptiv (APTV).
- Most Recent 13F
- Q2 2026
- Location
- GREAT FALLS, MT
- CIK
- 0001140771
- Portfolio Value
- $2.4B (Q4 2025)
- SEC Filing
- 0001140771-26-000001 ↗ filed Jan 27, 2026
Holdings Value
Holdings 119 stocks · $2.4B
| IXUS iShares Core Intl Stock ETF | 7.28% | 2,067,533 | $175.0M | Add +3.0% |
| GOOG Alphabet Inc. Class C | 4.92% | 376,668 | $118.2M | Reduce -16.3% |
| MSFT Microsoft Corp. | 4.32% | 214,758 | $103.9M | Reduce -0.4% |
| AMZN Amazon.com Inc. | 4.19% | 435,958 | $100.6M | Add +0.0% |
| AAPL Apple Inc. | 4.13% | 365,179 | $99.3M | Add +0.6% |
| TSM Taiwan Semiconductor-SP ADR | 2.74% | 216,638 | $65.8M | Reduce -0.2% |
| NVDA Nvidia Corp. | 2.36% | 303,681 | $56.6M | Add +1.2% |
| META Meta Platforms Inc. Class A | 2.21% | 80,341 | $53.0M | Add +100.9% |
| C Citigroup Inc. | 2.10% | 431,816 | $50.4M | Reduce -1.3% |
| AVGO Broadcom Inc. | 2.09% | 144,899 | $50.1M | Add +2.2% |
| RTX RTX Corp. | 2.06% | 269,480 | $49.4M | Reduce -1.6% |
| AGNC AGNC Investment Corp. | 1.92% | 4,298,275 | $46.1M | Add +0.1% |
| H Hyatt Hotels Corp. Class A | 1.82% | 272,421 | $43.7M | Add +287.0% |
| LH Labcorp Holdings Inc. | 1.66% | 159,467 | $40.0M | Reduce -0.4% |
| SRE Sempra | 1.60% | 436,252 | $38.5M | Reduce -0.7% |
| MDT Medtronic PLC | 1.50% | 374,250 | $36.0M | Reduce -0.5% |
| V Visa Inc. Class A | 1.32% | 90,382 | $31.7M | Add +0.3% |
| WMT Walmart Inc. | 1.31% | 282,167 | $31.4M | Add +0.4% |
| GS Goldman Sachs Group Inc. | 1.23% | 33,654 | $29.6M | Add +0.6% |
| VRTX Vertex Pharmaceuticals Inc. | 1.21% | 64,227 | $29.1M | Add +2.9% |
| INTU Intuit Inc. | 1.20% | 43,529 | $28.8M | Reduce -0.2% |
| GIL Gildan Activewear Inc. | 1.19% | 457,883 | $28.6M | Add +0.3% |
| VFMO Vanguard US Momentum Factor | 1.17% | 146,589 | $28.0M | Add +4.9% |
| ANET Arista Networks Inc. | 1.14% | 208,408 | $27.3M | Add +0.6% |
| CSCO Cisco Systems Inc. | 1.14% | 354,154 | $27.3M | Reduce -3.5% |
| ETN Eaton Corp. PLC | 1.10% | 83,066 | $26.5M | Reduce -0.6% |
| NFLX Netflix Inc. | 1.06% | 272,674 | $25.6M | Reduce -0.1% |
| OTIS Otis Worldwide Corp. | 1.05% | 288,568 | $25.2M | Add +0.2% |
| FDX FedEx Corp. | 1.04% | 86,555 | $25.0M | Reduce -1.1% |
| ADI Analog Devices Inc. | 1.01% | 89,607 | $24.3M | Reduce -0.9% |
| EUSA iShares MSCI USA Equal Weigh | 1.01% | 234,544 | $24.2M | Add +4.9% |
| SCHW Schwab (charles) Corp. | 1.00% | 240,830 | $24.1M | Reduce -1.5% |
| HON Honeywell International Inc. | 0.96% | 118,057 | $23.0M | Reduce -38.2% |
| BA The Boeing Co. | 0.94% | 103,910 | $22.6M | Add +18.7% |
| CRM Salesforce Inc. | 0.94% | 85,119 | $22.5M | Reduce -2.4% |
| AZN Astrazeneca PLC-Spons ADR | 0.92% | 240,096 | $22.1M | Add +0.6% |
| HD Home Depot Inc. | 0.91% | 63,768 | $21.9M | Reduce -5.2% |
| FTNT Fortinet Inc. | 0.91% | 273,952 | $21.8M | Add +2.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.91% | 395,519 | $21.8M | Reduce -1.5% |
| CVX Chevron Corp. | 0.86% | 136,334 | $20.8M | Reduce -3.0% |
| QCOM Qualcomm Inc. | 0.86% | 120,171 | $20.6M | Reduce -0.2% |
| BDX Becton Dickinson and Co. | 0.85% | 105,837 | $20.5M | Reduce -3.7% |
| CVS CVS Health Corp. | 0.83% | 250,941 | $19.9M | Reduce -1.6% |
| TMUS T-Mobile US Inc. | 0.82% | 97,223 | $19.7M | Reduce -3.4% |
| ICE Intercontinental Exchange Inc. | 0.81% | 120,838 | $19.6M | Add +29.8% |
| PGR Progressive Corp. | 0.80% | 84,513 | $19.2M | Reduce -2.4% |
| TRMB Trimble Inc. | 0.79% | 243,309 | $19.1M | Reduce -2.6% |
| SLAB Silicon Laboratories Inc. | 0.79% | 145,757 | $19.1M | Reduce -0.8% |
| PM Philip Morris International | 0.78% | 116,725 | $18.7M | Add +21.8% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.78% | 371,923 | $18.7M | Add +2.8% |
| ITM Vaneck Intermediate Muni ETF | 0.76% | 386,572 | $18.2M | Add +4.5% |
| DT Dynatrace Inc. | 0.75% | 414,070 | $17.9M | Reduce -7.2% |
| EXC Exelon Corp. | 0.73% | 402,520 | $17.5M | Add +1.0% |
| CPT Camden Property Trust | 0.72% | 156,964 | $17.3M | Reduce -4.2% |
| CI The Cigna Group | 0.71% | 61,964 | $17.1M | Reduce -7.1% |
| EOG EOG Resources Inc. | 0.71% | 162,250 | $17.0M | Reduce -6.8% |
| CTVA Corteva Inc. | 0.70% | 252,082 | $16.9M | Add +0.1% |
| FIBK First Interstate Bancsys-A | 0.69% | 481,538 | $16.7M | Add +19.2% |
| LOW Lowe's Cos Inc. | 0.68% | 67,964 | $16.4M | Reduce -3.9% |
| TRNO Terreno Realty Corp. | 0.68% | 277,182 | $16.3M | Reduce -0.4% |
| BMY Bristol-Myers Squibb Co. | 0.67% | 299,514 | $16.2M | Reduce -1.3% |
| STZ Constellation Brands Inc. Class A | 0.67% | 116,883 | $16.1M | Add +2.4% |
| NSC Norfolk Southern Corp. | 0.66% | 54,626 | $15.8M | Reduce -1.1% |
| ELAN Elanco Animal Health Inc. | 0.64% | 680,867 | $15.4M | Reduce -24.7% |
| CUBE Cubesmart | 0.64% | 426,074 | $15.4M | Reduce -7.4% |
| CMCSA Comcast Corp. Class A | 0.62% | 498,197 | $14.9M | Add +10.1% |
| PYPL PayPal Holdings Inc. | 0.62% | 254,355 | $14.8M | Reduce -4.9% |
| PFE Pfizer Inc. | 0.58% | 557,807 | $13.9M | Reduce -5.9% |
| LVS Las Vegas Sands Corp. | 0.57% | 209,394 | $13.6M | Reduce -22.3% |
| SARO Standardaero Inc. | 0.53% | 447,800 | $12.8M | New |
| FUL H.B. Fuller Co. filed as FULLER H B CO | 0.50% | 203,852 | $12.1M | Reduce -5.4% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.43% | 201,509 | $10.3M | Reduce -20.1% |
| WAFD Wafd Inc. | 0.42% | 312,403 | $10.0M | Add +1.1% |
| EQT Eqt Corp. | 0.41% | 184,355 | $9.9M | Add +3.3% |
| LIN Linde PLC | 0.41% | 23,025 | $9.8M | Add +16.4% |
| DGRO iShares Core Dividend Growth | 0.39% | 135,539 | $9.4M | Add +1.6% |
| ADBE Adobe Inc. | 0.38% | 25,886 | $9.1M | Reduce -5.5% |
| FANG Diamondback Energy Inc. | 0.36% | 57,805 | $8.7M | Add +0.4% |
| VYM Vanguard High DVD Yield ETF | 0.35% | 58,144 | $8.3M | Add +0.4% |
| BRBR Bellring Brands Inc. | 0.33% | 300,633 | $8.0M | Add +1.3% |
| ITOT iShares Core S&P Total U.S. | 0.31% | 50,277 | $7.5M | Add +0.2% |
| SOLS Solstice Adv Materials Inc. | 0.23% | 112,904 | $5.5M | Add +136.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.23% | 21,152 | $5.5M | Reduce -3.8% |
| MUB iShares National Muni Bond E | 0.22% | 49,865 | $5.3M | Reduce -5.4% |
| PFF iShares Preferred & Income S | 0.15% | 113,909 | $3.5M | Add +1.4% |
| SHM SS SPDR N Ice St Muni ETF | 0.08% | 41,339 | $2.0M | Reduce -32.3% |
| GOOGL Alphabet Inc. Class A | 0.07% | 5,267 | $1.6M | Add +7.0% |
| VTHR Vanguard Russell 3000 | 0.07% | 5,283 | $1.6M | Add +99.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.06% | 4,582 | $1.5M | Reduce -1.9% |
| CMF iShares California Muni Bond | 0.06% | 23,437 | $1.3M | Reduce -0.9% |
| JPM JPMorgan Chase & Co. | 0.06% | 4,152 | $1.3M | Add +1.4% |
| JNJ Johnson & Johnson | 0.05% | 6,026 | $1.2M | Reduce -1.2% |
| IDEV iShares Core MSCI Dev MKTS | 0.05% | 13,559 | $1.1M | Reduce -18.6% |
| COST Costco Wholesale Corp. | 0.04% | 1,055 | $910K | Add +18.9% |
| VOO Vanguard S&P 500 ETF | 0.04% | 1,417 | $889K | Add +66.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.04% | 1,285 | $876K | Add +231.2% |
| CAT Caterpillar Inc. | 0.03% | 1,429 | $819K | Add +10.0% |
| ABBV Abbvie Inc. | 0.03% | 3,527 | $806K | Add +20.5% |
| GLD SPDR Gold Shares | 0.03% | 1,945 | $771K | No change |
| SO The Southern Co. | 0.03% | 7,975 | $695K | Reduce -95.4% |
Portfolio Sells Q3 2025 → Q4 2025
| APTV Aptiv PLC | Sold out | 0.00% | −0.90 |
| HON Honeywell International Inc. | Reduce -38.2% | 0.96% | −0.75 |
| SO The Southern Co. | Reduce -95.4% | 0.03% | −0.66 |
| MSFT Microsoft Corp. | Reduce -0.4% | 4.32% | −0.42 |
| NFLX Netflix Inc. | Reduce -0.1% | 1.06% | −0.33 |
| IFF Intl Flavors & Fragrances | Sold out | 0.00% | −0.32 |
| LH Labcorp Holdings Inc. | Reduce -0.4% | 1.66% | −0.29 |
| HD Home Depot Inc. | Reduce -5.2% | 0.91% | −0.24 |
| ETN Eaton Corp. PLC | Reduce -0.6% | 1.10% | −0.23 |
| TMUS T-Mobile US Inc. | Reduce -3.4% | 0.82% | −0.20 |
| DT Dynatrace Inc. | Reduce -7.2% | 0.75% | −0.17 |
| CUBE Cubesmart | Reduce -7.4% | 0.64% | −0.15 |
| PYPL PayPal Holdings Inc. | Reduce -4.9% | 0.62% | −0.14 |
| ELAN Elanco Animal Health Inc. | Reduce -24.7% | 0.64% | −0.13 |
| EOG EOG Resources Inc. | Reduce -6.8% | 0.71% | −0.12 |
| JMST JPM Ultra-Short Muni Income | Reduce -20.1% | 0.43% | −0.12 |
| PGR Progressive Corp. | Reduce -2.4% | 0.80% | −0.11 |
| CI The Cigna Group | Reduce -7.1% | 0.71% | −0.11 |
| SRE Sempra | Reduce -0.7% | 1.60% | −0.07 |
| TRMB Trimble Inc. | Reduce -2.6% | 0.79% | −0.07 |
| LOW Lowe's Cos Inc. | Reduce -3.9% | 0.68% | −0.07 |
| INTU Intuit Inc. | Reduce -0.2% | 1.20% | −0.06 |
| PFE Pfizer Inc. | Reduce -5.9% | 0.58% | −0.06 |
| CVX Chevron Corp. | Reduce -3.0% | 0.86% | −0.06 |
| LVS Las Vegas Sands Corp. | Reduce -22.3% | 0.57% | −0.05 |
| NSC Norfolk Southern Corp. | Reduce -1.1% | 0.66% | −0.05 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -32.3% | 0.08% | −0.04 |
| FUL H.B. Fuller Co. | Reduce -5.4% | 0.50% | −0.04 |
| ADBE Adobe Inc. | Reduce -5.5% | 0.38% | −0.03 |
| SLAB Silicon Laboratories Inc. | Reduce -0.8% | 0.79% | −0.02 |
| CPT Camden Property Trust | Reduce -4.2% | 0.72% | −0.02 |
| MDT Medtronic PLC | Reduce -0.5% | 1.50% | −0.02 |
| IJH iShares Core S&P Midcap ETF | Reduce -45.0% | 0.03% | −0.02 |
| BDX Becton Dickinson and Co. | Reduce -3.7% | 0.85% | −0.02 |
| MUB iShares National Muni Bond E | Reduce -5.4% | 0.22% | −0.02 |
| VCIT Vanguard Int-Term Corporate | Sold out | 0.00% | −0.01 |
| IGSB iShares 1-5Y Inv Grade Corp. | Sold out | 0.00% | −0.01 |
| IDEV iShares Core MSCI Dev MKTS | Reduce -18.6% | 0.05% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -3.8% | 0.23% | −0.01 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.01 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.01 |
| CMF iShares California Muni Bond | Reduce -0.9% | 0.06% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.9% | 0.06% | −0.00 |
| JNJ Johnson & Johnson | Reduce -1.2% | 0.05% | +0.00 |
| QCOM Qualcomm Inc. | Reduce -0.2% | 0.86% | +0.01 |
| TRNO Terreno Realty Corp. | Reduce -0.4% | 0.68% | +0.01 |
| SCHW Schwab (charles) Corp. | Reduce -1.5% | 1.00% | +0.01 |
| CVS CVS Health Corp. | Reduce -1.6% | 0.83% | +0.01 |
| BAC Bank of America Corp. | Reduce -1.5% | 0.91% | +0.03 |
| CRM Salesforce Inc. | Reduce -2.4% | 0.94% | +0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| H Hyatt Hotels Corp. Class A | Add +287.0% | 1.82% | +1.39 |
| META Meta Platforms Inc. Class A | Add +100.9% | 2.21% | +0.96 |
| SARO Standardaero Inc. | New | 0.53% | +0.53 |
| IXUS iShares Core Intl Stock ETF | Add +3.0% | 7.28% | +0.25 |
| AAPL Apple Inc. | Add +0.6% | 4.13% | +0.21 |
| VRTX Vertex Pharmaceuticals Inc. | Add +2.9% | 1.21% | +0.17 |
| ICE Intercontinental Exchange Inc. | Add +29.8% | 0.81% | +0.15 |
| FIBK First Interstate Bancsys-A | Add +19.2% | 0.69% | +0.15 |
| AZN Astrazeneca PLC-Spons ADR | Add +0.6% | 0.92% | +0.14 |
| BA The Boeing Co. | Add +18.7% | 0.94% | +0.14 |
| AGNC AGNC Investment Corp. | Add +0.1% | 1.92% | +0.13 |
| SOLS Solstice Adv Materials Inc. | Add +136.4% | 0.23% | +0.13 |
| AMZN Amazon.com Inc. | Add +0.0% | 4.19% | +0.13 |
| PM Philip Morris International | Add +21.8% | 0.78% | +0.12 |
| AVGO Broadcom Inc. | Add +2.2% | 2.09% | +0.10 |
| GS Goldman Sachs Group Inc. | Add +0.6% | 1.23% | +0.10 |
| WMT Walmart Inc. | Add +0.4% | 1.31% | +0.08 |
| GIL Gildan Activewear Inc. | Add +0.3% | 1.19% | +0.07 |
| VTHR Vanguard Russell 3000 | Add +99.6% | 0.07% | +0.03 |
| EUSA iShares MSCI USA Equal Weigh | Add +4.9% | 1.01% | +0.03 |
| VFMO Vanguard US Momentum Factor | Add +4.9% | 1.17% | +0.03 |
| ITM Vaneck Intermediate Muni ETF | Add +4.5% | 0.76% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +231.2% | 0.04% | +0.03 |
| WAFD Wafd Inc. | Add +1.1% | 0.42% | +0.02 |
| STZ Constellation Brands Inc. Class A | Add +2.4% | 0.67% | +0.02 |
| GOOGL Alphabet Inc. Class A | Add +7.0% | 0.07% | +0.02 |
| CMCSA Comcast Corp. Class A | Add +10.1% | 0.62% | +0.02 |
| VOO Vanguard S&P 500 ETF | Add +66.5% | 0.04% | +0.01 |
| V Visa Inc. Class A | Add +0.3% | 1.32% | +0.01 |
| BSV Vanguard Short-Term Bond ETF | New | 0.01% | +0.01 |
| FANG Diamondback Energy Inc. | Add +0.4% | 0.36% | +0.01 |
| LIN Linde PLC | Add +16.4% | 0.41% | +0.01 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +2.8% | 0.78% | +0.01 |
| CAT Caterpillar Inc. | Add +10.0% | 0.03% | +0.01 |
| DGRO iShares Core Dividend Growth | Add +1.6% | 0.39% | +0.01 |
| ABBV Abbvie Inc. | Add +20.5% | 0.03% | +0.00 |
| COST Costco Wholesale Corp. | Add +18.9% | 0.04% | +0.00 |
| IWV iShares Russell 3000 ETF | Add +16.7% | 0.02% | +0.00 |
| IWF iShares Russell 1000 Growth | Add +13.3% | 0.01% | +0.00 |
| DE Deere & Co. | Add +9.8% | 0.01% | +0.00 |
| JPM JPMorgan Chase & Co. | Add +1.4% | 0.06% | +0.00 |
| VYM Vanguard High DVD Yield ETF | Add +0.4% | 0.35% | +0.00 |
| ITOT iShares Core S&P Total U.S. | Add +0.2% | 0.31% | +0.00 |
| TSLA Tesla Inc. | Add +1.1% | 0.02% | 0.00 |
| ABT Abbott Laboratories | Add +8.3% | 0.02% | −0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.4% | 0.01% | −0.00 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +1.3% | 0.02% | −0.00 |
| EQT Eqt Corp. | Add +3.3% | 0.41% | −0.00 |
| PFF iShares Preferred & Income S | Add +1.4% | 0.15% | −0.00 |
| NVDA Nvidia Corp. | Add +1.2% | 2.36% | −0.02 |
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 |