Fulton Breakefield Broenniman LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 23, 2025), Fulton Breakefield Broenniman LLC reported 194 stock positions worth $1.5 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 7.6% of the portfolio, followed by Microsoft (MSFT, 6.1%) and Apple (AAPL, 4.8%). Compared with Q1 2025, it opened 15 new positions, sold out of 5, added to 66 and reduced 92. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +623%) and the biggest sale Unitedhealth (UNH, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- Bethesda, MD
- CIK
- 0001119254
- Portfolio Value
- $1.5B (Q2 2025)
- SEC Filing
- 0001705819-25-000050 ↗ filed Jul 23, 2025
Holdings Value
Holdings 194 stocks · $1.5B
| IVV iShares Core S&P 500 ETF | 7.63% | 181,892 | $112.9M | Add +1.6% |
| MSFT Microsoft Corp. | 6.05% | 180,008 | $89.5M | Add +0.3% |
| AAPL Apple Inc. | 4.76% | 343,293 | $70.4M | Add +3.3% |
| AMZN Amazon.com Inc. | 4.22% | 284,732 | $62.5M | Reduce -0.4% |
| TSM Taiwan Semiconductor-SP ADR | 3.35% | 218,586 | $49.5M | Reduce -2.0% |
| GOOGL Alphabet Inc. Class A | 3.16% | 265,695 | $46.8M | Reduce -0.5% |
| VEA Vanguard Ftse Developed ETF | 2.93% | 761,262 | $43.4M | Add +623.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.91% | 88,681 | $43.1M | Reduce -0.5% |
| IJH iShares Core S&P Midcap ETF | 2.76% | 659,073 | $40.9M | Reduce -0.5% |
| NVDA Nvidia Corp. | 2.67% | 250,245 | $39.5M | Add +24.4% |
| AGG iShares Core U.S. Aggregate | 2.53% | 377,482 | $37.4M | Reduce -0.0% |
| V Visa Inc. Class A | 2.48% | 103,280 | $36.7M | Reduce -0.8% |
| IJR iShares Core S&P Small-Cap E | 2.46% | 333,686 | $36.5M | Reduce -2.8% |
| USIG iShares Broad Usd Investment | 2.17% | 624,813 | $32.1M | Reduce -1.2% |
| LLY Eli Lilly & Co. | 2.13% | 40,489 | $31.6M | Reduce -0.3% |
| PGR Progressive Corp. | 2.06% | 113,999 | $30.4M | Reduce -1.0% |
| NEE Nextera Energy Inc. | 1.75% | 372,637 | $25.9M | Reduce -1.4% |
| LOW Lowe's Cos Inc. | 1.67% | 111,438 | $24.7M | Reduce -2.3% |
| HWM Howmet Aerospace Inc. | 1.65% | 131,120 | $24.4M | Reduce -26.4% |
| NFLX Netflix Inc. | 1.48% | 16,306 | $21.8M | Add +1.0% |
| LIN Linde PLC | 1.47% | 46,436 | $21.8M | Reduce -0.9% |
| MCD McDonald's Corp. | 1.44% | 72,890 | $21.3M | Add +0.4% |
| APO Apollo Global Management Inc. | 1.22% | 127,286 | $18.1M | Reduce -0.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.18% | 141,118 | $17.4M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 1.16% | 54,835 | $17.1M | Reduce -4.8% |
| ROP Roper Technologies Inc. | 1.13% | 29,417 | $16.7M | Reduce -2.5% |
| ABBV Abbvie Inc. | 1.09% | 86,951 | $16.1M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 1.09% | 55,388 | $16.1M | Add +3.3% |
| CRM Salesforce Inc. | 1.04% | 56,258 | $15.3M | Reduce -1.7% |
| UNP Union Pacific Corp. | 1.02% | 65,420 | $15.1M | Reduce -2.9% |
| AXP American Express Co. | 1.01% | 46,840 | $14.9M | Add +0.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.01% | 24,126 | $14.9M | Add +0.2% |
| CHD Church & Dwight Co. Inc. | 0.99% | 151,692 | $14.6M | Reduce -1.1% |
| MRSH Marsh & McLennan Cos | 0.97% | 65,710 | $14.4M | Reduce -0.7% |
| DHR Danaher Corp. | 0.96% | 71,675 | $14.2M | Reduce -1.7% |
| SYK Stryker Corp. | 0.95% | 35,607 | $14.1M | Reduce -1.0% |
| SPGI S&P Global Inc. | 0.89% | 24,953 | $13.2M | Reduce -1.1% |
| PFF iShares Preferred & Income S | 0.85% | 412,366 | $12.7M | Reduce -13.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.85% | 15,719 | $12.6M | Reduce -1.7% |
| EOG EOG Resources Inc. | 0.85% | 104,751 | $12.5M | New |
| WCN Waste Connections Inc. | 0.85% | 67,012 | $12.5M | Add +2.6% |
| GD General Dynamics Corp. | 0.82% | 41,403 | $12.1M | Reduce -0.2% |
| SJNK SS SPDR BB St Hi Yield ETF | 0.78% | 450,699 | $11.5M | Reduce -5.1% |
| VIG Vanguard Dividend Apprec ETF | 0.76% | 55,146 | $11.3M | Add +3.5% |
| ADP Automatic Data Processing | 0.72% | 34,634 | $10.7M | Reduce -22.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.71% | 96,275 | $10.6M | Reduce -4.2% |
| TIP iShares Tips Bond ETF | 0.62% | 83,118 | $9.1M | Reduce -4.5% |
| IWM iShares Russell 2000 ETF | 0.62% | 42,275 | $9.1M | Reduce -2.7% |
| ADBE Adobe Inc. | 0.61% | 23,324 | $9.0M | Reduce -6.7% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.56% | 7,966 | $8.3M | Add +0.9% |
| CMG Chipotle Mexican Grill Inc. | 0.54% | 143,378 | $8.1M | Reduce -0.7% |
| OEF iShares S&P 100 ETF | 0.43% | 21,104 | $6.4M | Reduce -0.6% |
| IBDR iShares Ibonds Dec 2026 Term | 0.42% | 255,322 | $6.2M | Reduce -1.2% |
| IBDQ iShares Ibonds Dec 2025 Term | 0.40% | 235,770 | $5.9M | Reduce -7.8% |
| MUB iShares National Muni Bond E | 0.40% | 56,403 | $5.9M | Reduce -15.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.38% | 10,099 | $5.6M | Add +1.7% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.31% | 50,724 | $4.6M | Reduce -0.9% |
| RSP Invesco S&P 500 Equal Weight | 0.28% | 23,148 | $4.2M | Reduce -2.3% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 0.27% | 163,728 | $4.0M | Add +2.9% |
| SPIP SS SPDR P Tips ETF | 0.26% | 145,800 | $3.8M | Add +1.3% |
| IBDT iShares Ibonds Dec 2028 ETF | 0.23% | 133,386 | $3.4M | Add +3.4% |
| JNJ Johnson & Johnson | 0.23% | 21,860 | $3.3M | Add +2.7% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.23% | 77,394 | $3.3M | Reduce -24.3% |
| CVX Chevron Corp. | 0.22% | 23,089 | $3.3M | Reduce -76.0% |
| IBDV iShares Ibonds Dec 2030 Corp. | 0.21% | 139,239 | $3.1M | Add +113.7% |
| IBDU iShares Ibonds Dec 2029 Term | 0.18% | 115,469 | $2.7M | Add +3.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.18% | 8,644 | $2.6M | Reduce -1.3% |
| COST Costco Wholesale Corp. | 0.16% | 2,462 | $2.4M | Add +10.6% |
| TSLA Tesla Inc. | 0.16% | 7,476 | $2.4M | Add +4.2% |
| GOOG Alphabet Inc. Class C | 0.15% | 12,496 | $2.2M | Reduce -0.2% |
| ACN Accenture PLC Class A | 0.15% | 7,384 | $2.2M | Reduce -8.8% |
| MAR Marriott International Class A | 0.15% | 7,862 | $2.1M | No change |
| IBDW iShares Ibonds Dec 2031 Corp. | 0.14% | 95,815 | $2.0M | Add +186.2% |
| XOM Exxon Mobil Corp. | 0.13% | 18,106 | $2.0M | Reduce -3.5% |
| AVGO Broadcom Inc. | 0.13% | 6,828 | $1.9M | Add +220.6% |
| PG The Procter & Gamble Co. | 0.12% | 11,569 | $1.8M | Add +19.2% |
| TXN Texas Instruments Inc. | 0.12% | 8,750 | $1.8M | Reduce -5.7% |
| ITW Illinois Tool Works | 0.12% | 7,225 | $1.8M | Reduce -3.5% |
| SCHP Schwab U.S. Tips ETF | 0.12% | 65,428 | $1.7M | Reduce -0.4% |
| AMGN Amgen Inc. | 0.11% | 5,841 | $1.6M | Add +0.9% |
| XLK SS Technology Select Sector | 0.11% | 6,338 | $1.6M | Reduce -9.3% |
| IBDX iShares Ibonds Dec 2032 TC | 0.10% | 61,099 | $1.5M | Add +264.3% |
| PEP Pepsico Inc. | 0.10% | 11,328 | $1.5M | Reduce -86.8% |
| IEF iShares 7-10 Year Treasury B | 0.10% | 15,364 | $1.5M | Reduce -2.9% |
| SCHM Schwab US Mid Cap ETF | 0.10% | 52,431 | $1.5M | Reduce -1.1% |
| EXR Extra Space Storage Inc. | 0.10% | 9,589 | $1.4M | Reduce -3.5% |
| ITOT iShares Core S&P Total U.S. | 0.09% | 10,103 | $1.4M | New |
| SCHA Schwab US Small-Cap ETF | 0.08% | 47,945 | $1.2M | Reduce -1.6% |
| ETN Eaton Corp. PLC | 0.08% | 3,268 | $1.2M | Add +2.0% |
| HD Home Depot Inc. | 0.08% | 3,077 | $1.1M | Add +15.3% |
| IBDY iShares Ibonds Dec 2033 Corp. | 0.08% | 42,928 | $1.1M | Add +335.8% |
| NOC Northrop Grumman Corp. | 0.07% | 2,221 | $1.1M | Reduce -0.7% |
| PSK SS SPDR Ice Pref Sec ETF | 0.07% | 34,617 | $1.1M | Reduce -3.7% |
| RTX RTX Corp. | 0.06% | 6,480 | $946K | Add +1.6% |
| DVY iShares Select Dividend ETF | 0.06% | 7,041 | $935K | Reduce -0.5% |
| AFL Aflac Inc. | 0.06% | 8,339 | $879K | Add +272.4% |
| SHOP Shopify Inc. Class A | 0.06% | 7,149 | $825K | Add +11.3% |
| WMT Walmart Inc. | 0.05% | 8,224 | $804K | Reduce -0.4% |
| VOO Vanguard S&P 500 ETF | 0.05% | 1,415 | $804K | Add +69.9% |
| ABT Abbott Laboratories | 0.05% | 5,902 | $803K | Add +0.7% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $43K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | 18,405 | $43K | No change |
Total filed on the 13F, all lines: $1.5B.
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -4.8% | 1.16% | −1.02 |
| CVX Chevron Corp. | Reduce -76.0% | 0.22% | −0.94 |
| PEP Pepsico Inc. | Reduce -86.8% | 0.10% | −0.83 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.5% | 2.91% | −0.52 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.41 |
| PGR Progressive Corp. | Reduce -1.0% | 2.06% | −0.30 |
| LLY Eli Lilly & Co. | Reduce -0.3% | 2.13% | −0.29 |
| ADP Automatic Data Processing | Reduce -22.4% | 0.72% | −0.26 |
| LOW Lowe's Cos Inc. | Reduce -2.3% | 1.67% | −0.25 |
| CHD Church & Dwight Co. Inc. | Reduce -1.1% | 0.99% | −0.23 |
| PFF iShares Preferred & Income S | Reduce -13.0% | 0.85% | −0.20 |
| MRSH Marsh & McLennan Cos | Reduce -0.7% | 0.97% | −0.20 |
| NEE Nextera Energy Inc. | Reduce -1.4% | 1.75% | −0.19 |
| AGG iShares Core U.S. Aggregate | Reduce -0.0% | 2.53% | −0.17 |
| USIG iShares Broad Usd Investment | Reduce -1.2% | 2.17% | −0.16 |
| ROP Roper Technologies Inc. | Reduce -2.5% | 1.13% | −0.16 |
| V Visa Inc. Class A | Reduce -0.8% | 2.48% | −0.16 |
| UNP Union Pacific Corp. | Reduce -2.9% | 1.02% | −0.13 |
| IJR iShares Core S&P Small-Cap E | Reduce -2.8% | 2.46% | −0.13 |
| DHR Danaher Corp. | Reduce -1.7% | 0.96% | −0.12 |
| MUB iShares National Muni Bond E | Reduce -15.2% | 0.40% | −0.11 |
| LIN Linde PLC | Reduce -0.9% | 1.47% | −0.10 |
| SHYG iShares 0-5 YR HY Corp. Bond | Reduce -24.3% | 0.23% | −0.09 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -5.1% | 0.78% | −0.09 |
| ADBE Adobe Inc. | Reduce -6.7% | 0.61% | −0.08 |
| TIP iShares Tips Bond ETF | Reduce -4.5% | 0.62% | −0.08 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -4.2% | 0.71% | −0.08 |
| TJX TJX Companies Inc. | Reduce -0.9% | 1.18% | −0.07 |
| CRM Salesforce Inc. | Reduce -1.7% | 1.04% | −0.07 |
| IBDQ iShares Ibonds Dec 2025 Term | Reduce -7.8% | 0.40% | −0.06 |
| APO Apollo Global Management Inc. | Reduce -0.2% | 1.22% | −0.04 |
| SPGI S&P Global Inc. | Reduce -1.1% | 0.89% | −0.04 |
| IBDR iShares Ibonds Dec 2026 Term | Reduce -1.2% | 0.42% | −0.03 |
| ACN Accenture PLC Class A | Reduce -8.8% | 0.15% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -3.5% | 0.13% | −0.03 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.5% | 2.76% | −0.03 |
| HWM Howmet Aerospace Inc. | Reduce -26.4% | 1.65% | −0.02 |
| SHW The Sherwin-Williams Co. | Reduce -51.2% | 0.01% | −0.02 |
| ALB Albemarle Corp. | Sold out | 0.00% | −0.02 |
| O Realty Income Corp. | Sold out | 0.00% | −0.02 |
| K Kellanova | Sold out | 0.00% | −0.02 |
| VAW Vanguard Materials ETF | Sold out | 0.00% | −0.02 |
| MRVL Marvell Technology Inc. | Reduce -43.6% | 0.03% | −0.01 |
| SYK Stryker Corp. | Reduce -1.0% | 0.95% | −0.01 |
| ITW Illinois Tool Works | Reduce -3.5% | 0.12% | −0.01 |
| REEAF Ree Automotive Ltd. Class A | Reduce -61.5% | 0.00% | −0.01 |
| RSP Invesco S&P 500 Equal Weight | Reduce -2.3% | 0.28% | −0.01 |
| EXR Extra Space Storage Inc. | Reduce -3.5% | 0.10% | −0.01 |
| CLX Clorox Company | Reduce -11.3% | 0.02% | −0.01 |
| CL Colgate-Palmolive Co. | Reduce -35.2% | 0.01% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| VEA Vanguard Ftse Developed ETF | Add +623.1% | 2.93% | +2.55 |
| MSFT Microsoft Corp. | Add +0.3% | 6.05% | +1.18 |
| NVDA Nvidia Corp. | Add +24.4% | 2.67% | +1.10 |
| EOG EOG Resources Inc. | New | 0.85% | +0.85 |
| NFLX Netflix Inc. | Add +1.0% | 1.48% | +0.39 |
| IVV iShares Core S&P 500 ETF | Add +1.6% | 7.63% | +0.37 |
| JPM JPMorgan Chase & Co. | Add +3.3% | 1.09% | +0.14 |
| IBDV iShares Ibonds Dec 2030 Corp. | Add +113.7% | 0.21% | +0.10 |
| AXP American Express Co. | Add +0.5% | 1.01% | +0.10 |
| AVGO Broadcom Inc. | Add +220.6% | 0.13% | +0.10 |
| ITOT iShares Core S&P Total U.S. | New | 0.09% | +0.09 |
| IBDW iShares Ibonds Dec 2031 Corp. | Add +186.2% | 0.14% | +0.09 |
| IBDX iShares Ibonds Dec 2032 TC | Add +264.3% | 0.10% | +0.07 |
| IBDY iShares Ibonds Dec 2033 Corp. | Add +335.8% | 0.08% | +0.06 |
| CHTR Charter Communications Inc. Class A | New | 0.05% | +0.05 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.04% | +0.04 |
| AFL Aflac Inc. | Add +272.4% | 0.06% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.7% | 0.38% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.2% | 1.01% | +0.04 |
| PLTR Palantir Technologies Inc. Class A | New | 0.03% | +0.03 |
| IBDZ ISHARESIBONDSDEC2034TMCORP | New | 0.03% | +0.03 |
| ANET Arista Networks Inc. | New | 0.03% | +0.03 |
| TSLA Tesla Inc. | Add +4.2% | 0.16% | +0.03 |
| IVE iShares S&P 500 Value ETF | New | 0.02% | +0.02 |
| VOO Vanguard S&P 500 ETF | Add +69.9% | 0.05% | +0.02 |
| META Meta Platforms Inc. Class A | Add +63.1% | 0.05% | +0.02 |
| PANW Palo Alto Networks Inc. | New | 0.02% | +0.02 |
| INTU Intuit Inc. | New | 0.02% | +0.02 |
| VIG Vanguard Dividend Apprec ETF | Add +3.5% | 0.76% | +0.02 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +82.1% | 0.04% | +0.02 |
| ETN Eaton Corp. PLC | Add +2.0% | 0.08% | +0.02 |
| QCOM Qualcomm Inc. | New | 0.02% | +0.02 |
| PYPL PayPal Holdings Inc. | New | 0.01% | +0.01 |
| BAC Bank of America Corp. | New | 0.01% | +0.01 |
| IWD iShares Russell 1000 Value E | New | 0.01% | +0.01 |
| HCA HCA Healthcare Inc. | New | 0.01% | +0.01 |
| COST Costco Wholesale Corp. | Add +10.6% | 0.16% | +0.01 |
| SHOP Shopify Inc. Class A | Add +11.3% | 0.06% | +0.01 |
| HON Honeywell International Inc. | Add +38.7% | 0.03% | +0.01 |
| CAT Caterpillar Inc. | Add +5.0% | 0.05% | +0.01 |
| MCHP Microchip Technology Inc. | Add +0.3% | 0.02% | +0.01 |
| AMAT Applied Materials Inc. | Add +13.5% | 0.02% | +0.01 |
| HD Home Depot Inc. | Add +15.3% | 0.08% | +0.01 |
| PG The Procter & Gamble Co. | Add +19.2% | 0.12% | +0.01 |
| COF Capital One Financial Corp. | Add +5.3% | 0.03% | +0.00 |
| SNPS Synopsys Inc. | Add +0.3% | 0.03% | +0.00 |
| MA Mastercard Inc. Class A | Add +23.1% | 0.02% | +0.00 |
| MDLZ Mondelez International Inc. Class A | Add +23.0% | 0.03% | +0.00 |
| RTX RTX Corp. | Add +1.6% | 0.06% | +0.00 |
| T AT&T Inc. | Add +15.6% | 0.02% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 208 | $1.7B | IVV, VEA, AAPL, GOOGL, TSM |
| Q1 2026 | 200 | $1.5B | IVV, VEA, AAPL, MSFT, GOOGL |
| Q4 2025 | 203 | $1.6B | IVV, AAPL, MSFT, GOOGL, VEA |
| Q3 2025 | 203 | $1.5B | IVV, MSFT, AAPL, GOOGL, AMZN |
| Q2 2025 | 194 | $1.5B | IVV, MSFT, AAPL, AMZN, TSM |
| Q1 2025 | 184 | $1.4B | IVV, AAPL, MSFT, AMZN, BRK.B |
| Q4 2024 | 191 | $1.4B | AAPL, MSFT, IVV, AMZN, GOOGL |
| Q3 2024 | 182 | $1.4B | MSFT, AAPL, IVV, AMZN, GOOGL |
| Q2 2024 | 184 | $1.4B | MSFT, AAPL, IVV, AMZN, GOOGL |
| Q1 2024 | 181 | $1.3B | MSFT, IVV, AAPL, AMZN, GOOGL |