Garland Capital Management Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 30, 2024), Garland Capital Management Inc. reported 32 stock positions worth $141.5 million. Its top holding was JPMorgan Chase (JPM) at 6.2% of the portfolio, followed by Abbvie (ABBV, 5.4%) and Merck (MRK, 5.3%). Compared with Q1 2024, it opened 1 new position, sold out of 2, added to 10 and reduced 18. The biggest buy was Pfizer (PFE, shares +2%) and the biggest sale an exit from Crown Castle (CCI).
- Most Recent 13F
- Q3 2025
- Location
- BELLEVUE, WA
- CIK
- 0001181544
- Portfolio Value
- $141.5M (Q2 2024)
- SEC Filing
- 0001398344-24-013301 ↗ filed Jul 30, 2024
Holdings Value
Holdings 32 stocks · $141.5M
| JPM JPMorgan Chase & Co. | 6.20% | 43,365 | $8.8M | Reduce -4.7% |
| ABBV Abbvie Inc. | 5.40% | 44,558 | $7.6M | Reduce -0.2% |
| MRK Merck & Co. Inc. | 5.34% | 61,065 | $7.6M | Reduce -2.3% |
| PG The Procter & Gamble Co. | 4.84% | 41,546 | $6.9M | Reduce -1.3% |
| TRV The Travelers Cos Inc. | 4.31% | 30,015 | $6.1M | Reduce -1.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 4.00% | 94,565 | $5.7M | Reduce -1.5% |
| PRU Prudential Financial Inc. | 3.91% | 47,250 | $5.5M | Reduce -2.5% |
| PEP Pepsico Inc. | 3.84% | 32,910 | $5.4M | Add +1.4% |
| CSCO Cisco Systems Inc. | 3.82% | 113,644 | $5.4M | Reduce -0.0% |
| UPS United Parcel Service Class B | 3.79% | 39,140 | $5.4M | Reduce -0.8% |
| WELL Welltower Inc. | 3.76% | 51,088 | $5.3M | Reduce -1.4% |
| NVS Novartis AG-Sponsored ADR | 3.76% | 50,010 | $5.3M | Reduce -1.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.68% | 30,076 | $5.2M | Reduce -2.1% |
| CVX Chevron Corp. | 3.61% | 32,689 | $5.1M | Reduce -1.9% |
| JNJ Johnson & Johnson | 3.38% | 32,732 | $4.8M | Reduce -1.0% |
| DLR Digital Realty Trust Inc. | 3.20% | 29,790 | $4.5M | Reduce -1.0% |
| RTX RTX Corp. | 2.99% | 42,185 | $4.2M | Reduce -0.3% |
| ROK Rockwell Automation Inc. | 2.91% | 14,935 | $4.1M | Add +3.1% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 2.90% | 43,030 | $4.1M | Reduce -0.2% |
| CMCSA Comcast Corp. Class A | 2.79% | 100,600 | $3.9M | Add +2.8% |
| PFE Pfizer Inc. | 2.73% | 138,222 | $3.9M | Add +1.8% |
| NTRS Northern Trust Corp. | 2.73% | 45,900 | $3.9M | Add +0.1% |
| TTE Totalenergies SE -Spon ADR | 2.71% | 57,602 | $3.8M | Reduce -2.0% |
| ARE Alexandria Real Estate Equit | 2.65% | 32,045 | $3.7M | Add +4.0% |
| MDT Medtronic PLC | 2.56% | 46,030 | $3.6M | Add +3.0% |
| AEP American Electric Power | 2.55% | 41,075 | $3.6M | Add +0.3% |
| CVS CVS Health Corp. | 2.54% | 60,810 | $3.6M | Add +0.3% |
| INTC Intel Corp. | 2.37% | 108,445 | $3.4M | Add +1.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.45% | 3,934 | $631K | No change |
| MSFT Microsoft Corp. | 0.18% | 568 | $254K | New |
| VNQ Vanguard Real Estate ETF | 0.06% | 1,049 | $88K | No change |
| VOO Vanguard S&P 500 ETF | 0.03% | 72 | $36K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| CCI Crown Castle Inc. | Sold out | 0.00% | −1.83 |
| TRV The Travelers Cos Inc. | Reduce -1.5% | 4.31% | −0.33 |
| IBM Intl Business Machines Corp. | Reduce -2.1% | 3.68% | −0.21 |
| MRK Merck & Co. Inc. | Reduce -2.3% | 5.34% | −0.12 |
| UPS United Parcel Service Class B | Reduce -0.8% | 3.79% | −0.10 |
| JNJ Johnson & Johnson | Reduce -1.0% | 3.38% | −0.08 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Sold out | 0.00% | −0.03 |
| ABBV Abbvie Inc. | Reduce -0.2% | 5.40% | +0.01 |
| TTE Totalenergies SE -Spon ADR | Reduce -2.0% | 2.71% | +0.03 |
| CSCO Cisco Systems Inc. | Reduce -0.0% | 3.82% | +0.06 |
| CVX Chevron Corp. | Reduce -1.9% | 3.61% | +0.13 |
| PRU Prudential Financial Inc. | Reduce -2.5% | 3.91% | +0.15 |
| JPM JPMorgan Chase & Co. | Reduce -4.7% | 6.20% | +0.16 |
| RTX RTX Corp. | Reduce -0.3% | 2.99% | +0.26 |
| PG The Procter & Gamble Co. | Reduce -1.3% | 4.84% | +0.32 |
| DLR Digital Realty Trust Inc. | Reduce -1.0% | 3.20% | +0.33 |
| BNY Bank of New York Mellon Corp. | Reduce -1.5% | 4.00% | +0.34 |
| IFF Intl Flavors & Fragrances | Reduce -0.2% | 2.90% | +0.44 |
| NVS Novartis AG-Sponsored ADR | Reduce -1.4% | 3.76% | +0.51 |
| WELL Welltower Inc. | Reduce -1.4% | 3.76% | +0.56 |
Portfolio Buys Q1 2024 → Q2 2024
| PFE Pfizer Inc. | Add +1.8% | 2.73% | +0.24 |
| AEP American Electric Power | Add +0.3% | 2.55% | +0.21 |
| MSFT Microsoft Corp. | New | 0.18% | +0.18 |
| ROK Rockwell Automation Inc. | Add +3.1% | 2.91% | +0.11 |
| PEP Pepsico Inc. | Add +1.4% | 3.84% | +0.07 |
| NTRS Northern Trust Corp. | Add +0.1% | 2.73% | +0.02 |
| ARE Alexandria Real Estate Equit | Add +4.0% | 2.65% | +0.02 |
| MDT Medtronic PLC | Add +3.0% | 2.56% | −0.02 |
| CMCSA Comcast Corp. Class A | Add +2.8% | 2.79% | −0.03 |
| CVS CVS Health Corp. | Add +0.3% | 2.54% | −0.67 |
| INTC Intel Corp. | Add +1.0% | 2.37% | −0.77 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 21 | $7.3M | JPM, BNY, ABBV, RTX, IBM |
| Q2 2025 | 29 | $31.5M | JPM, BNY, ABBV, IBM, CSCO |
| Q1 2025 | 28 | $106.8M | ABBV, JPM, BNY, TRV, WELL |
| Q4 2024 | 33 | $122.0M | JPM, ABBV, BNY, TRV, CSCO |
| Q3 2024 | 30 | $130.0M | JPM, ABBV, PG, TRV, MRK |
| Q2 2024 | 32 | $141.5M | JPM, ABBV, MRK, PG, TRV |
| Q1 2024 | 33 | $150.9M | JPM, MRK, ABBV, TRV, PG |