Dillon & Associates Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), Dillon & Associates Inc. reported 76 stock positions worth $777.7 million. Its top holding was Nvidia (NVDA) at 21.9% of the portfolio, followed by Apple (AAPL, 8.4%) and Alphabet Class A (GOOGL, 6.1%). Compared with Q2 2025, it opened 1 new position, sold out of 2, added to 28 and reduced 40. The biggest buy was Casey's General Stores (CASY, shares +25%) and the biggest sale Regeneron Pharmaceuticals (REGN, shares −63%).
- Most Recent 13F
- Q2 2026
- Location
- JACKSON, MI
- CIK
- 0001054425
- Portfolio Value
- $777.7M (Q3 2025)
- SEC Filing
- 0001054425-25-000005 ↗ filed Oct 28, 2025
Holdings Value
Holdings 76 stocks · $777.7M
| NVDA Nvidia Corp. | 21.94% | 912,357 | $170.6M | Reduce -2.8% |
| AAPL Apple Inc. | 8.44% | 257,384 | $65.6M | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 6.08% | 194,512 | $47.3M | Reduce -0.4% |
| V Visa Inc. Class A | 5.10% | 116,256 | $39.6M | Reduce -0.2% |
| SYK Stryker Corp. | 4.03% | 84,777 | $31.4M | Add +0.3% |
| ABT Abbott Laboratories | 3.83% | 222,241 | $29.8M | Add +1.6% |
| PANW Palo Alto Networks Inc. | 2.99% | 114,149 | $23.3M | Add +5.7% |
| AMZN Amazon.com Inc. | 2.73% | 96,553 | $21.2M | Add +1.6% |
| ORLY O'reilly Automotive Inc. | 2.66% | 191,426 | $20.7M | Reduce -0.6% |
| ADP Automatic Data Processing | 2.61% | 68,961 | $20.3M | Add +0.0% |
| LOW Lowe's Cos Inc. | 2.41% | 74,562 | $18.7M | Reduce -0.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.21% | 311,900 | $17.2M | Add +2.6% |
| APD Air Products & Chemicals Inc. | 2.01% | 57,151 | $15.6M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 1.90% | 60,490 | $14.8M | Reduce -1.8% |
| CASY Casey's General Stores Inc. | 1.87% | 25,737 | $14.5M | Add +25.1% |
| NSC Norfolk Southern Corp. | 1.86% | 48,292 | $14.5M | Reduce -0.0% |
| ECL Ecolab Inc. | 1.84% | 52,224 | $14.3M | Reduce -0.0% |
| PAYC Paycom Software Inc. | 1.82% | 68,153 | $14.2M | Add +10.9% |
| ISRG Intuitive Surgical Inc. | 1.64% | 28,474 | $12.7M | Add +5.3% |
| CMG Chipotle Mexican Grill Inc. | 1.56% | 311,770 | $12.2M | Add +8.5% |
| FISV Fiserv Inc. | 1.54% | 93,105 | $12.0M | Add +5.1% |
| DHR Danaher Corp. | 1.38% | 54,312 | $10.8M | Add +13.8% |
| COST Costco Wholesale Corp. | 1.36% | 11,428 | $10.6M | Add +0.1% |
| MSFT Microsoft Corp. | 1.18% | 17,712 | $9.2M | Add +1.3% |
| META Meta Platforms Inc. Class A | 1.15% | 12,195 | $9.0M | Reduce -2.1% |
| ETN Eaton Corp. PLC | 1.00% | 20,782 | $7.8M | Add +11.0% |
| CRM Salesforce Inc. | 0.93% | 30,567 | $7.2M | Reduce -0.6% |
| SBUX Starbucks Corp. | 0.90% | 82,042 | $7.0M | Reduce -4.8% |
| CNI Canadian Natl Railway Co. | 0.89% | 73,843 | $6.9M | Reduce -0.9% |
| RTX RTX Corp. | 0.82% | 38,180 | $6.4M | Reduce -0.6% |
| PAYX Paychex Inc. | 0.77% | 46,997 | $6.0M | Reduce -0.4% |
| NEE Nextera Energy Inc. | 0.66% | 68,631 | $5.1M | Add +0.6% |
| PEP Pepsico Inc. | 0.65% | 36,041 | $5.0M | Reduce -23.1% |
| JPM JPMorgan Chase & Co. | 0.64% | 15,715 | $5.0M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 0.59% | 5,973 | $4.6M | Add +41.3% |
| HD Home Depot Inc. | 0.58% | 11,124 | $4.5M | Reduce -1.8% |
| JNJ Johnson & Johnson | 0.57% | 24,007 | $4.4M | Reduce -0.4% |
| MCD McDonald's Corp. | 0.37% | 9,374 | $2.9M | Reduce -1.2% |
| MNST Monster Beverage Corp. | 0.36% | 42,102 | $2.8M | Add +3.8% |
| PG The Procter & Gamble Co. | 0.36% | 18,268 | $2.8M | Reduce -0.0% |
| REGN Regeneron Pharmaceuticals | 0.35% | 4,897 | $2.8M | Reduce -63.3% |
| CL Colgate-Palmolive Co. | 0.30% | 29,117 | $2.3M | Reduce -4.0% |
| AZN Astrazeneca PLC-Spons ADR | 0.25% | 25,221 | $1.9M | Add +0.1% |
| GNRC Generac Holdings Inc. | 0.25% | 11,420 | $1.9M | Reduce -12.6% |
| WMT Walmart Inc. | 0.22% | 16,397 | $1.7M | Reduce -1.8% |
| ABBV Abbvie Inc. | 0.21% | 7,071 | $1.6M | Add +0.4% |
| CELH Celsius Holdings Inc. | 0.19% | 25,977 | $1.5M | Add +7.6% |
| HON Honeywell International Inc. | 0.19% | 6,861 | $1.4M | Reduce -0.6% |
| ASML ASML Holding NV-NY Reg SHS | 0.18% | 1,409 | $1.4M | Add +4.4% |
| SYY Sysco Corp. | 0.16% | 14,830 | $1.2M | Reduce -11.5% |
| ADBE Adobe Inc. | 0.14% | 3,181 | $1.1M | Reduce -32.8% |
| QCOM Qualcomm Inc. | 0.14% | 6,383 | $1.1M | Reduce -8.2% |
| ADI Analog Devices Inc. | 0.13% | 4,193 | $1.0M | Add +1.7% |
| MDLZ Mondelez International Inc. Class A | 0.10% | 12,975 | $804K | Reduce -34.9% |
| AMGN Amgen Inc. | 0.09% | 2,483 | $700K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.07% | 5,030 | $573K | Reduce -5.5% |
| MSTR Strategy Inc. | 0.07% | 1,605 | $517K | Add +9.2% |
| HSY The Hershey Co. | 0.06% | 2,483 | $464K | Reduce -2.4% |
| EMR Emerson Electric Co. | 0.05% | 3,208 | $420K | No change |
| TSLA Tesla Inc. | 0.05% | 865 | $385K | Add +2.5% |
| UNH Unitedhealth Group Inc. | 0.05% | 1,113 | $384K | Add +0.6% |
| AFL Aflac Inc. | 0.05% | 3,300 | $370K | Reduce -6.1% |
| CSCO Cisco Systems Inc. | 0.05% | 5,413 | $368K | Reduce -1.8% |
| MRSH Marsh & McLennan Cos | 0.05% | 1,817 | $367K | No change |
| ROK Rockwell Automation Inc. | 0.04% | 984 | $344K | Add +1.9% |
| K Kellanova | 0.04% | 4,010 | $329K | No change |
| COF Capital One Financial Corp. | 0.04% | 1,502 | $320K | No change |
| STZ Constellation Brands Inc. Class A | 0.04% | 2,325 | $314K | Reduce -56.9% |
| NVS Novartis AG-Sponsored ADR | 0.04% | 2,227 | $285K | Reduce -2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.03% | 522 | $263K | Reduce -6.0% |
| ENB Enbridge Inc. | 0.03% | 5,087 | $254K | Add +2.0% |
| USB US Bancorp | 0.03% | 5,176 | $248K | No change |
| KO The Coca-Cola Co. | 0.03% | 3,724 | $246K | Reduce -4.6% |
| PLTR Palantir Technologies Inc. Class A | 0.03% | 1,305 | $238K | New |
| LIN Linde PLC | 0.03% | 497 | $236K | Reduce -11.9% |
| IBRX Immunitybio Inc. | 0.01% | 25,800 | $52K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| REGN Regeneron Pharmaceuticals | Reduce -63.3% | 0.35% | −0.60 |
| V Visa Inc. Class A | Reduce -0.2% | 5.10% | −0.52 |
| CRM Salesforce Inc. | Reduce -0.6% | 0.93% | −0.21 |
| PEP Pepsico Inc. | Reduce -23.1% | 0.65% | −0.19 |
| APD Air Products & Chemicals Inc. | Reduce -0.4% | 2.01% | −0.19 |
| SBUX Starbucks Corp. | Reduce -4.8% | 0.90% | −0.18 |
| PAYX Paychex Inc. | Reduce -0.4% | 0.77% | −0.16 |
| CNI Canadian Natl Railway Co. | Reduce -0.9% | 0.89% | −0.16 |
| ADBE Adobe Inc. | Reduce -32.8% | 0.14% | −0.10 |
| META Meta Platforms Inc. Class A | Reduce -2.1% | 1.15% | −0.10 |
| STZ Constellation Brands Inc. Class A | Reduce -56.9% | 0.04% | −0.08 |
| MDLZ Mondelez International Inc. Class A | Reduce -34.9% | 0.10% | −0.08 |
| CL Colgate-Palmolive Co. | Reduce -4.0% | 0.30% | −0.08 |
| ECL Ecolab Inc. | Reduce -0.0% | 1.84% | −0.07 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.03 |
| HON Honeywell International Inc. | Reduce -0.6% | 0.19% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.0% | 0.36% | −0.03 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.03 |
| SYY Sysco Corp. | Reduce -11.5% | 0.16% | −0.02 |
| DIS The Walt Disney Co. | Reduce -5.5% | 0.07% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -8.2% | 0.14% | −0.01 |
| MCD McDonald's Corp. | Reduce -1.2% | 0.37% | −0.01 |
| GNRC Generac Holdings Inc. | Reduce -12.6% | 0.25% | −0.01 |
| KO The Coca-Cola Co. | Reduce -4.6% | 0.03% | −0.01 |
| LIN Linde PLC | Reduce -11.9% | 0.03% | −0.01 |
| WMT Walmart Inc. | Reduce -1.8% | 0.22% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -1.8% | 0.05% | −0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -6.0% | 0.03% | −0.00 |
| AFL Aflac Inc. | Reduce -6.1% | 0.05% | −0.00 |
| NVS Novartis AG-Sponsored ADR | Reduce -2.2% | 0.04% | −0.00 |
| HSY The Hershey Co. | Reduce -2.4% | 0.06% | +0.00 |
| JPM JPMorgan Chase & Co. | Reduce -0.7% | 0.64% | +0.01 |
| HD Home Depot Inc. | Reduce -1.8% | 0.58% | +0.02 |
| RTX RTX Corp. | Reduce -0.6% | 0.82% | +0.06 |
| JNJ Johnson & Johnson | Reduce -0.4% | 0.57% | +0.07 |
| LOW Lowe's Cos Inc. | Reduce -0.2% | 2.41% | +0.15 |
| NSC Norfolk Southern Corp. | Reduce -0.0% | 1.86% | +0.18 |
| ORLY O'reilly Automotive Inc. | Reduce -0.6% | 2.66% | +0.31 |
| GOOG Alphabet Inc. Class C | Reduce -1.8% | 1.90% | +0.42 |
| AAPL Apple Inc. | Reduce -2.9% | 8.44% | +1.07 |
| GOOGL Alphabet Inc. Class A | Reduce -0.4% | 6.08% | +1.41 |
| NVDA Nvidia Corp. | Reduce -2.8% | 21.94% | +1.81 |
Portfolio Buys Q2 2025 → Q3 2025
| CASY Casey's General Stores Inc. | Add +25.1% | 1.87% | +0.45 |
| LLY Eli Lilly & Co. | Add +41.3% | 0.59% | +0.14 |
| DHR Danaher Corp. | Add +13.8% | 1.38% | +0.10 |
| ETN Eaton Corp. PLC | Add +11.0% | 1.00% | +0.09 |
| CELH Celsius Holdings Inc. | Add +7.6% | 0.19% | +0.04 |
| ABBV Abbvie Inc. | Add +0.4% | 0.21% | +0.03 |
| PLTR Palantir Technologies Inc. Class A | New | 0.03% | +0.03 |
| ASML ASML Holding NV-NY Reg SHS | Add +4.4% | 0.18% | +0.03 |
| NEE Nextera Energy Inc. | Add +0.6% | 0.66% | +0.02 |
| MNST Monster Beverage Corp. | Add +3.8% | 0.36% | +0.02 |
| TSLA Tesla Inc. | Add +2.5% | 0.05% | +0.01 |
| AZN Astrazeneca PLC-Spons ADR | Add +0.1% | 0.25% | +0.01 |
| UNH Unitedhealth Group Inc. | Add +0.6% | 0.05% | +0.00 |
| ENB Enbridge Inc. | Add +2.0% | 0.03% | +0.00 |
| ROK Rockwell Automation Inc. | Add +1.9% | 0.04% | +0.00 |
| MSFT Microsoft Corp. | Add +1.3% | 1.18% | −0.00 |
| ADI Analog Devices Inc. | Add +1.7% | 0.13% | −0.00 |
| PANW Palo Alto Networks Inc. | Add +5.7% | 2.99% | −0.01 |
| MSTR Strategy Inc. | Add +9.2% | 0.07% | −0.01 |
| AMZN Amazon.com Inc. | Add +1.6% | 2.73% | −0.09 |
| PAYC Paycom Software Inc. | Add +10.9% | 1.82% | −0.10 |
| COST Costco Wholesale Corp. | Add +0.1% | 1.36% | −0.17 |
| ABT Abbott Laboratories | Add +1.6% | 3.83% | −0.21 |
| ADP Automatic Data Processing | Add +0.0% | 2.61% | −0.28 |
| ISRG Intuitive Surgical Inc. | Add +5.3% | 1.64% | −0.36 |
| SYK Stryker Corp. | Add +0.3% | 4.03% | −0.51 |
| FISV Fiserv Inc. | Add +5.1% | 1.54% | −0.52 |
| CMG Chipotle Mexican Grill Inc. | Add +8.5% | 1.56% | −0.62 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +2.6% | 2.21% | −0.64 |
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 |