Dillon & Associates Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), Dillon & Associates Inc. reported 77 stock positions worth $736.7 million. Its top holding was Nvidia (NVDA) at 20.1% of the portfolio, followed by Apple (AAPL, 7.4%) and Visa Class A (V, 5.6%). Compared with Q1 2025, it opened 1 new position, sold out of 2, added to 35 and reduced 38. The biggest buy was Eaton (ETN, shares +58%) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- JACKSON, MI
- CIK
- 0001054425
- Portfolio Value
- $736.7M (Q2 2025)
- SEC Filing
- 0001054425-25-000003 ↗ filed Aug 5, 2025
Holdings Value
Holdings 77 stocks · $736.7M
| NVDA Nvidia Corp. | 20.13% | 938,494 | $148.3M | Reduce -2.0% |
| AAPL Apple Inc. | 7.37% | 264,931 | $54.3M | Reduce -0.6% |
| V Visa Inc. Class A | 5.62% | 116,531 | $41.4M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 4.67% | 195,272 | $34.4M | Add +1.0% |
| SYK Stryker Corp. | 4.54% | 84,487 | $33.5M | Reduce -0.3% |
| ABT Abbott Laboratories | 4.04% | 218,655 | $29.7M | Add +1.9% |
| PANW Palo Alto Networks Inc. | 3.01% | 107,990 | $22.1M | Add +3.0% |
| ADP Automatic Data Processing | 2.88% | 68,940 | $21.2M | Reduce -0.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.85% | 303,883 | $21.0M | Add +3.0% |
| AMZN Amazon.com Inc. | 2.83% | 95,044 | $20.8M | Add +5.3% |
| ORLY O'reilly Automotive Inc. | 2.35% | 192,581 | $17.3M | No change |
| LOW Lowe's Cos Inc. | 2.25% | 74,712 | $16.6M | Reduce -0.3% |
| APD Air Products & Chemicals Inc. | 2.20% | 57,386 | $16.2M | Reduce -0.5% |
| CMG Chipotle Mexican Grill Inc. | 2.19% | 287,433 | $16.1M | Add +5.1% |
| FISV Fiserv Inc. | 2.07% | 88,570 | $15.2M | Add +9.1% |
| ISRG Intuitive Surgical Inc. | 1.99% | 27,038 | $14.7M | Add +2.4% |
| PAYC Paycom Software Inc. | 1.93% | 61,457 | $14.2M | Add +3.4% |
| ECL Ecolab Inc. | 1.91% | 52,242 | $14.1M | Add +0.4% |
| NSC Norfolk Southern Corp. | 1.68% | 48,313 | $12.4M | Add +0.0% |
| COST Costco Wholesale Corp. | 1.53% | 11,421 | $11.3M | Add +14.9% |
| GOOG Alphabet Inc. Class C | 1.48% | 61,610 | $10.9M | Reduce -0.2% |
| CASY Casey's General Stores Inc. | 1.42% | 20,576 | $10.5M | Add +19.8% |
| DHR Danaher Corp. | 1.28% | 47,740 | $9.5M | Reduce -0.8% |
| META Meta Platforms Inc. Class A | 1.25% | 12,462 | $9.2M | Reduce -0.5% |
| MSFT Microsoft Corp. | 1.18% | 17,486 | $8.7M | Add +2.5% |
| CRM Salesforce Inc. | 1.14% | 30,764 | $8.4M | Add +4.5% |
| SBUX Starbucks Corp. | 1.08% | 86,169 | $7.9M | Reduce -2.2% |
| CNI Canadian Natl Railway Co. | 1.05% | 74,528 | $7.8M | Add +0.8% |
| REGN Regeneron Pharmaceuticals | 0.95% | 13,344 | $7.0M | Reduce -2.9% |
| PAYX Paychex Inc. | 0.93% | 47,197 | $6.8M | Reduce -3.5% |
| ETN Eaton Corp. PLC | 0.91% | 18,724 | $6.7M | Add +57.6% |
| PEP Pepsico Inc. | 0.84% | 46,881 | $6.2M | Reduce -28.9% |
| RTX RTX Corp. | 0.76% | 38,407 | $5.6M | Add +1.3% |
| NEE Nextera Energy Inc. | 0.64% | 68,246 | $4.7M | Add +8.3% |
| JPM JPMorgan Chase & Co. | 0.62% | 15,824 | $4.6M | Reduce -1.0% |
| HD Home Depot Inc. | 0.56% | 11,324 | $4.2M | Reduce -2.9% |
| JNJ Johnson & Johnson | 0.50% | 24,093 | $3.7M | Reduce -0.3% |
| LLY Eli Lilly & Co. | 0.45% | 4,228 | $3.3M | Add +67.6% |
| PG The Procter & Gamble Co. | 0.39% | 18,273 | $2.9M | Reduce -3.0% |
| MCD McDonald's Corp. | 0.38% | 9,491 | $2.8M | Reduce -0.9% |
| CL Colgate-Palmolive Co. | 0.37% | 30,317 | $2.8M | Reduce -0.2% |
| MNST Monster Beverage Corp. | 0.35% | 40,577 | $2.6M | Reduce -1.2% |
| GNRC Generac Holdings Inc. | 0.25% | 13,059 | $1.9M | Reduce -22.2% |
| ADBE Adobe Inc. | 0.25% | 4,734 | $1.8M | Add +13.0% |
| AZN Astrazeneca PLC-Spons ADR | 0.24% | 25,195 | $1.8M | Add +4.2% |
| WMT Walmart Inc. | 0.22% | 16,694 | $1.6M | Add +0.6% |
| HON Honeywell International Inc. | 0.22% | 6,903 | $1.6M | Reduce -7.3% |
| MDLZ Mondelez International Inc. Class A | 0.18% | 19,925 | $1.3M | Reduce -10.8% |
| ABBV Abbvie Inc. | 0.18% | 7,041 | $1.3M | Add +3.3% |
| SYY Sysco Corp. | 0.17% | 16,758 | $1.3M | Reduce -4.6% |
| CELH Celsius Holdings Inc. | 0.15% | 24,147 | $1.1M | Reduce -25.0% |
| QCOM Qualcomm Inc. | 0.15% | 6,949 | $1.1M | Add +1.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.15% | 1,350 | $1.1M | Reduce -5.6% |
| ADI Analog Devices Inc. | 0.13% | 4,123 | $981K | Reduce -24.1% |
| STZ Constellation Brands Inc. Class A | 0.12% | 5,394 | $879K | Reduce -69.8% |
| AMGN Amgen Inc. | 0.09% | 2,483 | $693K | Add +0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.09% | 5,320 | $660K | Reduce -18.0% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.08% | 1,470 | $594K | Reduce -3.4% |
| EMR Emerson Electric Co. | 0.06% | 3,208 | $427K | Add +1.6% |
| HSY The Hershey Co. | 0.06% | 2,543 | $422K | Reduce -10.3% |
| MRSH Marsh & McLennan Cos | 0.05% | 1,817 | $398K | Add +0.9% |
| CSCO Cisco Systems Inc. | 0.05% | 5,512 | $380K | Add +5.5% |
| AFL Aflac Inc. | 0.05% | 3,516 | $369K | No change |
| UNH Unitedhealth Group Inc. | 0.05% | 1,106 | $345K | Reduce -3.8% |
| K Kellanova | 0.04% | 4,010 | $321K | No change |
| ROK Rockwell Automation Inc. | 0.04% | 966 | $321K | Reduce -82.1% |
| COF Capital One Financial Corp. | 0.04% | 1,502 | $320K | Add +0.1% |
| KO The Coca-Cola Co. | 0.04% | 3,902 | $277K | Reduce -4.8% |
| NVS Novartis AG-Sponsored ADR | 0.04% | 2,277 | $276K | Reduce -25.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.04% | 555 | $270K | Add +6.7% |
| TSLA Tesla Inc. | 0.04% | 844 | $268K | Add +8.3% |
| LIN Linde PLC | 0.04% | 564 | $265K | Add +13.9% |
| PYPL PayPal Holdings Inc. | 0.03% | 3,398 | $251K | Reduce -39.2% |
| USB US Bancorp | 0.03% | 5,176 | $233K | Add +0.5% |
| ENB Enbridge Inc. | 0.03% | 4,987 | $224K | Reduce -2.7% |
| CMCSA Comcast Corp. Class A | 0.03% | 5,728 | $206K | Reduce -23.1% |
| IBRX Immunitybio Inc. | 0.01% | 25,800 | $77K | New |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -0.6% | 7.37% | −1.42 |
| PEP Pepsico Inc. | Reduce -28.9% | 0.84% | −0.63 |
| STZ Constellation Brands Inc. Class A | Reduce -69.8% | 0.12% | −0.37 |
| REGN Regeneron Pharmaceuticals | Reduce -2.9% | 0.95% | −0.34 |
| LOW Lowe's Cos Inc. | Reduce -0.3% | 2.25% | −0.34 |
| APD Air Products & Chemicals Inc. | Reduce -0.5% | 2.20% | −0.33 |
| ADP Automatic Data Processing | Reduce -0.3% | 2.88% | −0.26 |
| SBUX Starbucks Corp. | Reduce -2.2% | 1.08% | −0.21 |
| PAYX Paychex Inc. | Reduce -3.5% | 0.93% | −0.19 |
| DHR Danaher Corp. | Reduce -0.8% | 1.28% | −0.18 |
| ROK Rockwell Automation Inc. | Reduce -82.1% | 0.04% | −0.16 |
| SYK Stryker Corp. | Reduce -0.3% | 4.54% | −0.14 |
| JNJ Johnson & Johnson | Reduce -0.3% | 0.50% | −0.10 |
| PG The Procter & Gamble Co. | Reduce -3.0% | 0.39% | −0.08 |
| HD Home Depot Inc. | Reduce -2.9% | 0.56% | −0.07 |
| MCD McDonald's Corp. | Reduce -0.9% | 0.38% | −0.07 |
| GNRC Generac Holdings Inc. | Reduce -22.2% | 0.25% | −0.06 |
| CL Colgate-Palmolive Co. | Reduce -0.2% | 0.37% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -10.8% | 0.18% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -3.8% | 0.05% | −0.04 |
| TGT Target Corp. | Sold out | 0.00% | −0.04 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.04 |
| ADI Analog Devices Inc. | Reduce -24.1% | 0.13% | −0.03 |
| SYY Sysco Corp. | Reduce -4.6% | 0.17% | −0.02 |
| CELH Celsius Holdings Inc. | Reduce -25.0% | 0.15% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -39.2% | 0.03% | −0.02 |
| HON Honeywell International Inc. | Reduce -7.3% | 0.22% | −0.02 |
| HSY The Hershey Co. | Reduce -10.3% | 0.06% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -23.1% | 0.03% | −0.01 |
| MNST Monster Beverage Corp. | Reduce -1.2% | 0.35% | −0.01 |
| NVS Novartis AG-Sponsored ADR | Reduce -25.6% | 0.04% | −0.01 |
| KO The Coca-Cola Co. | Reduce -4.8% | 0.04% | −0.01 |
| DIS The Walt Disney Co. | Reduce -18.0% | 0.09% | −0.01 |
| ENB Enbridge Inc. | Reduce -2.7% | 0.03% | −0.00 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -5.6% | 0.15% | +0.01 |
| MSTR Strategy Inc. | Reduce -3.4% | 0.08% | +0.02 |
| JPM JPMorgan Chase & Co. | Reduce -1.0% | 0.62% | +0.04 |
| GOOG Alphabet Inc. Class C | Reduce -0.2% | 1.48% | +0.05 |
| META Meta Platforms Inc. Class A | Reduce -0.5% | 1.25% | +0.18 |
| NVDA Nvidia Corp. | Reduce -2.0% | 20.13% | +4.76 |
Portfolio Buys Q1 2025 → Q2 2025
| ETN Eaton Corp. PLC | Add +57.6% | 0.91% | +0.43 |
| PANW Palo Alto Networks Inc. | Add +3.0% | 3.01% | +0.34 |
| CASY Casey's General Stores Inc. | Add +19.8% | 1.42% | +0.32 |
| AMZN Amazon.com Inc. | Add +5.3% | 2.83% | +0.28 |
| MSFT Microsoft Corp. | Add +2.5% | 1.18% | +0.23 |
| GOOGL Alphabet Inc. Class A | Add +1.0% | 4.67% | +0.21 |
| CMG Chipotle Mexican Grill Inc. | Add +5.1% | 2.19% | +0.15 |
| LLY Eli Lilly & Co. | Add +67.6% | 0.45% | +0.14 |
| COST Costco Wholesale Corp. | Add +14.9% | 1.53% | +0.14 |
| ISRG Intuitive Surgical Inc. | Add +2.4% | 1.99% | +0.05 |
| RTX RTX Corp. | Add +1.3% | 0.76% | +0.02 |
| IBRX Immunitybio Inc. | New | 0.01% | +0.01 |
| ADBE Adobe Inc. | Add +13.0% | 0.25% | +0.01 |
| EMR Emerson Electric Co. | Add +1.6% | 0.06% | +0.01 |
| TSLA Tesla Inc. | Add +8.3% | 0.04% | +0.01 |
| WMT Walmart Inc. | Add +0.6% | 0.22% | +0.01 |
| COF Capital One Financial Corp. | Add +0.1% | 0.04% | +0.00 |
| CSCO Cisco Systems Inc. | Add +5.5% | 0.05% | +0.00 |
| PAYC Paycom Software Inc. | Add +3.4% | 1.93% | +0.00 |
| LIN Linde PLC | Add +13.9% | 0.04% | +0.00 |
| USB US Bancorp | Add +0.5% | 0.03% | −0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +6.7% | 0.04% | −0.00 |
| QCOM Qualcomm Inc. | Add +1.9% | 0.15% | −0.01 |
| MRSH Marsh & McLennan Cos | Add +0.9% | 0.05% | −0.01 |
| CNI Canadian Natl Railway Co. | Add +0.8% | 1.05% | −0.01 |
| AMGN Amgen Inc. | Add +0.1% | 0.09% | −0.02 |
| NSC Norfolk Southern Corp. | Add +0.0% | 1.68% | −0.02 |
| NEE Nextera Energy Inc. | Add +8.3% | 0.64% | −0.03 |
| AZN Astrazeneca PLC-Spons ADR | Add +4.2% | 0.24% | −0.03 |
| CRM Salesforce Inc. | Add +4.5% | 1.14% | −0.03 |
| ABBV Abbvie Inc. | Add +3.3% | 0.18% | −0.03 |
| ECL Ecolab Inc. | Add +0.4% | 1.91% | −0.06 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +3.0% | 2.85% | −0.18 |
| ABT Abbott Laboratories | Add +1.9% | 4.04% | −0.20 |
| V Visa Inc. Class A | Add +0.1% | 5.62% | −0.44 |
| FISV Fiserv Inc. | Add +9.1% | 2.07% | −0.60 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 80 | $817.2M | NVDA, AAPL, GOOGL, PANW, V |
| Q1 2026 | 75 | $726.4M | NVDA, AAPL, GOOGL, V, SYK |
| Q4 2025 | 77 | $774.4M | NVDA, AAPL, GOOGL, V, SYK |
| Q3 2025 | 76 | $777.7M | NVDA, AAPL, GOOGL, V, SYK |
| Q2 2025 | 77 | $736.7M | NVDA, AAPL, V, GOOGL, SYK |
| Q1 2025 | 78 | $673.1M | NVDA, AAPL, V, SYK, GOOGL |
| Q4 2024 | 81 | $721.1M | NVDA, AAPL, V, GOOGL, SYK |
| Q3 2024 | 81 | $710.6M | NVDA, AAPL, NVO, GOOGL, V |
| Q2 2024 | 80 | $683.6M | NVDA, AAPL, NVO, GOOGL, V |
| Q1 2024 | 82 | $636.5M | NVDA, AAPL, NVO, V, SYK |