Dillon & Associates Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Dillon & Associates Inc. reported 77 stock positions worth $774.4 million. Its top holding was Nvidia (NVDA) at 20.9% of the portfolio, followed by Apple (AAPL, 9.0%) and Alphabet Class A (GOOGL, 7.8%). Compared with Q3 2025, it opened 3 new positions, sold out of 2, added to 30 and reduced 33. The biggest buy was Intuitive Surgical (ISRG, shares +12%) and the biggest sale Fiserv (FISV, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- JACKSON, MI
- CIK
- 0001054425
- Portfolio Value
- $774.4M (Q4 2025)
- SEC Filing
- 0001054425-26-000001 ↗ filed Feb 9, 2026
Holdings Value
Holdings 77 stocks · $774.4M
| NVDA Nvidia Corp. | 20.90% | 870,360 | $161.9M | Reduce -4.6% |
| AAPL Apple Inc. | 8.96% | 255,000 | $69.4M | Reduce -0.9% |
| GOOGL Alphabet Inc. Class A | 7.82% | 193,562 | $60.6M | Reduce -0.5% |
| V Visa Inc. Class A | 5.28% | 116,411 | $40.9M | Add +0.1% |
| SYK Stryker Corp. | 3.91% | 86,307 | $30.3M | Add +1.8% |
| ABT Abbott Laboratories | 3.65% | 226,443 | $28.3M | Add +1.9% |
| AMZN Amazon.com Inc. | 2.90% | 97,288 | $22.5M | Add +0.8% |
| PANW Palo Alto Networks Inc. | 2.76% | 116,104 | $21.4M | Add +1.7% |
| GOOG Alphabet Inc. Class C | 2.39% | 58,941 | $18.5M | Reduce -2.6% |
| ADP Automatic Data Processing | 2.34% | 70,464 | $18.1M | Add +2.2% |
| LOW Lowe's Cos Inc. | 2.33% | 74,862 | $18.0M | Add +0.4% |
| ISRG Intuitive Surgical Inc. | 2.33% | 31,836 | $18.0M | Add +11.8% |
| ORLY O'reilly Automotive Inc. | 2.25% | 191,101 | $17.4M | Reduce -0.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.98% | 301,198 | $15.4M | Reduce -3.4% |
| CASY Casey's General Stores Inc. | 1.87% | 26,254 | $14.5M | Add +2.0% |
| NSC Norfolk Southern Corp. | 1.82% | 48,855 | $14.1M | Add +1.2% |
| APD Air Products & Chemicals Inc. | 1.82% | 56,950 | $14.1M | Reduce -0.3% |
| ECL Ecolab Inc. | 1.77% | 51,980 | $13.7M | Reduce -0.5% |
| DHR Danaher Corp. | 1.62% | 54,692 | $12.5M | Add +0.7% |
| COST Costco Wholesale Corp. | 1.52% | 13,658 | $11.8M | Add +19.5% |
| PAYC Paycom Software Inc. | 1.46% | 71,181 | $11.3M | Add +4.4% |
| CMG Chipotle Mexican Grill Inc. | 1.39% | 290,449 | $10.7M | Reduce -6.8% |
| MSFT Microsoft Corp. | 1.15% | 18,478 | $8.9M | Add +4.3% |
| CRM Salesforce Inc. | 1.09% | 31,949 | $8.5M | Add +4.5% |
| META Meta Platforms Inc. Class A | 1.05% | 12,312 | $8.1M | Add +1.0% |
| LLY Eli Lilly & Co. | 0.99% | 7,111 | $7.6M | Add +19.1% |
| RTX RTX Corp. | 0.95% | 40,327 | $7.4M | Add +5.6% |
| CNI Canadian Natl Railway Co. | 0.94% | 73,546 | $7.3M | Reduce -0.4% |
| ETN Eaton Corp. PLC | 0.91% | 21,976 | $7.0M | Add +5.8% |
| SBUX Starbucks Corp. | 0.84% | 77,530 | $6.5M | Reduce -5.5% |
| NEE Nextera Energy Inc. | 0.78% | 75,627 | $6.0M | Add +10.2% |
| PAYX Paychex Inc. | 0.67% | 46,430 | $5.2M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 0.65% | 15,665 | $5.0M | Reduce -0.3% |
| JNJ Johnson & Johnson | 0.63% | 23,608 | $4.9M | Reduce -1.7% |
| PEP Pepsico Inc. | 0.60% | 32,166 | $4.6M | Reduce -10.8% |
| MNST Monster Beverage Corp. | 0.54% | 54,557 | $4.2M | Add +29.6% |
| HD Home Depot Inc. | 0.49% | 11,111 | $3.8M | Reduce -0.1% |
| REGN Regeneron Pharmaceuticals | 0.44% | 4,373 | $3.4M | Reduce -10.7% |
| MCD McDonald's Corp. | 0.37% | 9,369 | $2.9M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 0.32% | 17,259 | $2.5M | Reduce -5.5% |
| AZN Astrazeneca PLC-Spons ADR | 0.31% | 25,963 | $2.4M | Add +2.9% |
| CL Colgate-Palmolive Co. | 0.29% | 28,656 | $2.3M | Reduce -1.6% |
| WMT Walmart Inc. | 0.23% | 16,397 | $1.8M | No change |
| ASML ASML Holding NV-NY Reg SHS | 0.22% | 1,583 | $1.7M | Add +12.3% |
| ABBV Abbvie Inc. | 0.21% | 7,071 | $1.6M | No change |
| FISV Fiserv Inc. | 0.19% | 22,118 | $1.5M | Reduce -76.2% |
| HON Honeywell International Inc. | 0.17% | 6,901 | $1.3M | Add +0.6% |
| CELH Celsius Holdings Inc. | 0.17% | 29,202 | $1.3M | Add +12.4% |
| ADI Analog Devices Inc. | 0.15% | 4,182 | $1.1M | Reduce -0.3% |
| QCOM Qualcomm Inc. | 0.14% | 6,333 | $1.1M | Reduce -0.8% |
| SYY Sysco Corp. | 0.13% | 13,505 | $999K | Reduce -8.9% |
| GNRC Generac Holdings Inc. | 0.12% | 6,956 | $946K | Reduce -39.1% |
| AMGN Amgen Inc. | 0.10% | 2,483 | $812K | No change |
| NFLX Netflix Inc. | 0.08% | 6,218 | $584K | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.07% | 4,940 | $563K | Reduce -1.8% |
| ADBE Adobe Inc. | 0.06% | 1,416 | $496K | Reduce -55.5% |
| MDLZ Mondelez International Inc. Class A | 0.06% | 8,575 | $463K | Reduce -33.9% |
| ROK Rockwell Automation Inc. | 0.06% | 1,187 | $462K | Add +20.6% |
| HSY The Hershey Co. | 0.06% | 2,458 | $447K | Reduce -1.0% |
| EMR Emerson Electric Co. | 0.06% | 3,208 | $427K | No change |
| CSCO Cisco Systems Inc. | 0.05% | 5,413 | $417K | No change |
| TSLA Tesla Inc. | 0.05% | 865 | $389K | No change |
| UNH Unitedhealth Group Inc. | 0.05% | 1,113 | $367K | No change |
| AFL Aflac Inc. | 0.05% | 3,300 | $363K | No change |
| COF Capital One Financial Corp. | 0.05% | 1,502 | $363K | No change |
| MRSH Marsh & McLennan Cos | 0.04% | 1,800 | $335K | Reduce -0.9% |
| NVS Novartis AG-Sponsored ADR | 0.04% | 2,202 | $304K | Reduce -1.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.04% | 1,000 | $304K | New |
| USB US Bancorp | 0.04% | 5,176 | $274K | No change |
| STZ Constellation Brands Inc. Class A | 0.03% | 1,953 | $270K | Reduce -16.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.03% | 520 | $262K | Reduce -0.4% |
| KO The Coca-Cola Co. | 0.03% | 3,725 | $261K | Add +0.0% |
| ENB Enbridge Inc. | 0.03% | 5,237 | $251K | Add +3.0% |
| PLTR Palantir Technologies Inc. Class A | 0.03% | 1,310 | $233K | Add +0.4% |
| MRK Merck & Co. Inc. | 0.03% | 2,078 | $218K | New |
| LIN Linde PLC | 0.03% | 508 | $216K | Add +2.2% |
| IBRX Immunitybio Inc. | 0.01% | 25,800 | $52K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Reduce -76.2% | 0.19% | −1.35 |
| NVDA Nvidia Corp. | Reduce -4.6% | 20.90% | −1.03 |
| ORLY O'reilly Automotive Inc. | Reduce -0.2% | 2.25% | −0.41 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -3.4% | 1.98% | −0.22 |
| APD Air Products & Chemicals Inc. | Reduce -0.3% | 1.82% | −0.19 |
| CMG Chipotle Mexican Grill Inc. | Reduce -6.8% | 1.39% | −0.18 |
| GNRC Generac Holdings Inc. | Reduce -39.1% | 0.12% | −0.12 |
| PAYX Paychex Inc. | Reduce -1.2% | 0.67% | −0.10 |
| HD Home Depot Inc. | Reduce -0.1% | 0.49% | −0.09 |
| ADBE Adobe Inc. | Reduce -55.5% | 0.06% | −0.08 |
| ECL Ecolab Inc. | Reduce -0.5% | 1.77% | −0.07 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.07 |
| SBUX Starbucks Corp. | Reduce -5.5% | 0.84% | −0.06 |
| PEP Pepsico Inc. | Reduce -10.8% | 0.60% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -33.9% | 0.06% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -5.5% | 0.32% | −0.04 |
| K Kellanova | Sold out | 0.00% | −0.04 |
| SYY Sysco Corp. | Reduce -8.9% | 0.13% | −0.03 |
| CL Colgate-Palmolive Co. | Reduce -1.6% | 0.29% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -16.0% | 0.03% | −0.01 |
| MRSH Marsh & McLennan Cos | Reduce -0.9% | 0.04% | −0.00 |
| HSY The Hershey Co. | Reduce -1.0% | 0.06% | −0.00 |
| DIS The Walt Disney Co. | Reduce -1.8% | 0.07% | −0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 0.03% | 0.00 |
| NVS Novartis AG-Sponsored ADR | Reduce -1.1% | 0.04% | +0.00 |
| QCOM Qualcomm Inc. | Reduce -0.8% | 0.14% | +0.00 |
| MCD McDonald's Corp. | Reduce -0.1% | 0.37% | +0.00 |
| ADI Analog Devices Inc. | Reduce -0.3% | 0.15% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.3% | 0.65% | +0.01 |
| CNI Canadian Natl Railway Co. | Reduce -0.4% | 0.94% | +0.05 |
| JNJ Johnson & Johnson | Reduce -1.7% | 0.63% | +0.06 |
| REGN Regeneron Pharmaceuticals | Reduce -10.7% | 0.44% | +0.08 |
| GOOG Alphabet Inc. Class C | Reduce -2.6% | 2.39% | +0.49 |
| AAPL Apple Inc. | Reduce -0.9% | 8.96% | +0.52 |
| GOOGL Alphabet Inc. Class A | Reduce -0.5% | 7.82% | +1.75 |
Portfolio Buys Q3 2025 → Q4 2025
| ISRG Intuitive Surgical Inc. | Add +11.8% | 2.33% | +0.69 |
| LLY Eli Lilly & Co. | Add +19.1% | 0.99% | +0.40 |
| DHR Danaher Corp. | Add +0.7% | 1.62% | +0.23 |
| MNST Monster Beverage Corp. | Add +29.6% | 0.54% | +0.18 |
| V Visa Inc. Class A | Add +0.1% | 5.28% | +0.18 |
| AMZN Amazon.com Inc. | Add +0.8% | 2.90% | +0.17 |
| CRM Salesforce Inc. | Add +4.5% | 1.09% | +0.16 |
| COST Costco Wholesale Corp. | Add +19.5% | 1.52% | +0.16 |
| RTX RTX Corp. | Add +5.6% | 0.95% | +0.13 |
| NEE Nextera Energy Inc. | Add +10.2% | 0.78% | +0.12 |
| NFLX Netflix Inc. | New | 0.08% | +0.08 |
| AZN Astrazeneca PLC-Spons ADR | Add +2.9% | 0.31% | +0.06 |
| ASML ASML Holding NV-NY Reg SHS | Add +12.3% | 0.22% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.04% | +0.04 |
| MRK Merck & Co. Inc. | New | 0.03% | +0.03 |
| ROK Rockwell Automation Inc. | Add +20.6% | 0.06% | +0.02 |
| CASY Casey's General Stores Inc. | Add +2.0% | 1.87% | +0.01 |
| KO The Coca-Cola Co. | Add +0.0% | 0.03% | +0.00 |
| ENB Enbridge Inc. | Add +3.0% | 0.03% | −0.00 |
| PLTR Palantir Technologies Inc. Class A | Add +0.4% | 0.03% | −0.00 |
| LIN Linde PLC | Add +2.2% | 0.03% | −0.00 |
| HON Honeywell International Inc. | Add +0.6% | 0.17% | −0.01 |
| CELH Celsius Holdings Inc. | Add +12.4% | 0.17% | −0.02 |
| MSFT Microsoft Corp. | Add +4.3% | 1.15% | −0.02 |
| NSC Norfolk Southern Corp. | Add +1.2% | 1.82% | −0.04 |
| LOW Lowe's Cos Inc. | Add +0.4% | 2.33% | −0.08 |
| ETN Eaton Corp. PLC | Add +5.8% | 0.91% | −0.09 |
| META Meta Platforms Inc. Class A | Add +1.0% | 1.05% | −0.10 |
| SYK Stryker Corp. | Add +1.8% | 3.91% | −0.12 |
| ABT Abbott Laboratories | Add +1.9% | 3.65% | −0.17 |
| PANW Palo Alto Networks Inc. | Add +1.7% | 2.76% | −0.24 |
| ADP Automatic Data Processing | Add +2.2% | 2.34% | −0.27 |
| PAYC Paycom Software Inc. | Add +4.4% | 1.46% | −0.36 |
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 |