Garland Capital Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Garland Capital Management Inc. reported 28 stock positions worth $106.8 million. Its top holding was Abbvie (ABBV) at 6.4% of the portfolio, followed by JPMorgan Chase (JPM, 5.9%) and Bank of New York Mellon (BNY, 5.3%). Compared with Q4 2024, it sold out of 5, added to 3 and reduced 23. The biggest buy was Comcast Class A (CMCSA, shares +5%) and the biggest sale an exit from Digital Realty Trust (DLR).
- Most Recent 13F
- Q3 2025
- Location
- BELLEVUE, WA
- CIK
- 0001181544
- Portfolio Value
- $106.8M (Q1 2025)
- SEC Filing
- 0001398344-25-007426 ↗ filed Apr 22, 2025
Holdings Value
Holdings 28 stocks · $106.8M
| ABBV Abbvie Inc. | 6.42% | 32,738 | $6.9M | Reduce -12.4% |
| JPM JPMorgan Chase & Co. | 5.89% | 25,655 | $6.3M | Reduce -15.2% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 5.29% | 67,390 | $5.7M | Reduce -13.8% |
| TRV The Travelers Cos Inc. | 5.25% | 21,210 | $5.6M | Reduce -14.6% |
| WELL Welltower Inc. | 5.08% | 35,443 | $5.4M | Reduce -13.0% |
| PG The Procter & Gamble Co. | 4.98% | 31,235 | $5.3M | Reduce -7.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 4.98% | 21,386 | $5.3M | Reduce -14.5% |
| CSCO Cisco Systems Inc. | 4.80% | 83,108 | $5.1M | Reduce -14.8% |
| NVS Novartis AG-Sponsored ADR | 4.02% | 38,505 | $4.3M | Reduce -8.7% |
| RTX RTX Corp. | 4.02% | 32,385 | $4.3M | Reduce -8.1% |
| PEP Pepsico Inc. | 3.97% | 28,275 | $4.2M | Reduce -2.6% |
| CVX Chevron Corp. | 3.89% | 24,811 | $4.2M | Reduce -15.7% |
| MRK Merck & Co. Inc. | 3.89% | 46,240 | $4.2M | Reduce -13.0% |
| JNJ Johnson & Johnson | 3.73% | 23,997 | $4.0M | Reduce -14.5% |
| PRU Prudential Financial Inc. | 3.64% | 34,840 | $3.9M | Reduce -11.4% |
| AEP American Electric Power | 3.63% | 35,445 | $3.9M | Reduce -5.1% |
| MDT Medtronic PLC | 3.25% | 38,625 | $3.5M | Reduce -6.9% |
| NTRS Northern Trust Corp. | 3.17% | 34,290 | $3.4M | Reduce -10.3% |
| UPS United Parcel Service Class B | 3.12% | 30,265 | $3.3M | Reduce -12.3% |
| CMCSA Comcast Corp. Class A | 2.97% | 86,105 | $3.2M | Add +5.0% |
| ROK Rockwell Automation Inc. | 2.82% | 11,665 | $3.0M | Reduce -7.5% |
| PFE Pfizer Inc. | 2.74% | 115,495 | $2.9M | Reduce -6.3% |
| TTE Totalenergies SE -Spon ADR | 2.74% | 45,237 | $2.9M | Reduce -10.0% |
| ARE Alexandria Real Estate Equit | 2.60% | 29,965 | $2.8M | Add +1.3% |
| PLD Prologis Inc. | 2.49% | 23,770 | $2.7M | Reduce -5.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.51% | 3,139 | $542K | Add +0.3% |
| VNQ Vanguard Real Estate ETF | 0.09% | 1,049 | $95K | No change |
| VOO Vanguard S&P 500 ETF | 0.03% | 72 | $37K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −3.59 |
| IFF Intl Flavors & Fragrances | Sold out | 0.00% | −2.67 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.55 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.54 |
| UPS United Parcel Service Class B | Reduce -12.3% | 3.12% | −0.45 |
| MRK Merck & Co. Inc. | Reduce -13.0% | 3.89% | −0.45 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −0.23 |
| PRU Prudential Financial Inc. | Reduce -11.4% | 3.64% | −0.18 |
| ROK Rockwell Automation Inc. | Reduce -7.5% | 2.82% | −0.13 |
| JPM JPMorgan Chase & Co. | Reduce -15.2% | 5.89% | −0.05 |
| NTRS Northern Trust Corp. | Reduce -10.3% | 3.17% | −0.05 |
| PFE Pfizer Inc. | Reduce -6.3% | 2.74% | +0.06 |
| CSCO Cisco Systems Inc. | Reduce -14.8% | 4.80% | +0.07 |
| PLD Prologis Inc. | Reduce -5.9% | 2.49% | +0.30 |
| TRV The Travelers Cos Inc. | Reduce -14.6% | 5.25% | +0.35 |
| PEP Pepsico Inc. | Reduce -2.6% | 3.97% | +0.35 |
| PG The Procter & Gamble Co. | Reduce -7.1% | 4.98% | +0.36 |
| BNY Bank of New York Mellon Corp. | Reduce -13.8% | 5.29% | +0.37 |
| CVX Chevron Corp. | Reduce -15.7% | 3.89% | +0.39 |
| JNJ Johnson & Johnson | Reduce -14.5% | 3.73% | +0.40 |
| IBM Intl Business Machines Corp. | Reduce -14.5% | 4.98% | +0.47 |
| TTE Totalenergies SE -Spon ADR | Reduce -10.0% | 2.74% | +0.49 |
| MDT Medtronic PLC | Reduce -6.9% | 3.25% | +0.53 |
| NVS Novartis AG-Sponsored ADR | Reduce -8.7% | 4.02% | +0.66 |
| RTX RTX Corp. | Reduce -8.1% | 4.02% | +0.67 |
| AEP American Electric Power | Reduce -5.1% | 3.63% | +0.80 |
| WELL Welltower Inc. | Reduce -13.0% | 5.08% | +0.87 |
| ABBV Abbvie Inc. | Reduce -12.4% | 6.42% | +0.98 |
Portfolio Buys Q4 2024 → Q1 2025
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 |