Harbour Investment Management LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed December 15, 2025), Harbour Investment Management LLC reported 106 stock positions worth $230.0 million. Its top holding was Microsoft (MSFT) at 12.7% of the portfolio, followed by Costco Wholesale (COST, 6.8%) and Apple (AAPL, 5.0%). Compared with Q2 2025, it opened 13 new positions, sold out of 2, added to 4 and reduced 62. The biggest buy was Vanguard Ultra Short Bond Et (VUSB, shares +119%) and the biggest sale Costco Wholesale (COST, shares −8%).

Most Recent 13F
Q2 2026
Location
EDMONDS, WA
CIK
0001275880
Portfolio Value
$230.0M (Q3 2025)
SEC Filing
0001275880-25-000011 ↗ filed Dec 15, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $213.1M Q1 2024 Q2 2024: $216.5M Q2 2024 Q3 2024: $225.7M Q3 2024 Q4 2024: $228.0M Q4 2024 Q1 2025: $221.1M Q1 2025 Q2 2025: $231.2M Q2 2025 Q3 2025: $230.0M $230.0M Q3 2025 Q4 2025: $188.6M Q4 2025 Q1 2026: $184.2M Q1 2026 Q2 2026: $193.6M Q2 2026

Holdings 106 stocks · $230.0M
MSFT Microsoft Corp. 12.68% 56,327 $29.2M Reduce -6.0%
COST Costco Wholesale Corp. 6.77% 16,816 $15.6M Reduce -7.6%
AAPL Apple Inc. 5.00% 45,213 $11.5M Reduce -14.1%
JPST JPMorgan Ultra-Short Income 3.72% 168,776 $8.6M Add +45.4%
AVGO Broadcom Inc. 3.45% 24,031 $7.9M Reduce -12.1%
AMZN Amazon.com Inc. 3.37% 35,354 $7.8M Reduce -8.7%
BRK.B Berkshire Hathaway Inc. Class B 2.39% 10,940 $5.5M Reduce -7.3%
IBB iShares Biotechnology ETF 2.31% 36,829 $5.3M Reduce -8.9%
VUSB Vanguard Ultra Short Bond Et 2.19% 100,825 $5.0M Add +119.0%
SYK Stryker Corp. 2.00% 12,446 $4.6M Reduce -6.9%
PCAR Paccar Inc. 1.88% 44,029 $4.3M Reduce -13.9%
WM Waste Management Inc. 1.86% 19,380 $4.3M Reduce -8.9%
GOOG Alphabet Inc. Class C 1.83% 17,323 $4.2M Reduce -5.2%
NVO Novo-Nordisk A/S-Spons ADR 1.80% 74,601 $4.1M Reduce -9.5%
ADP Automatic Data Processing 1.72% 13,435 $4.0M Reduce -13.7%
RTX RTX Corp. 1.58% 21,679 $3.6M Reduce -10.0%
LHX L3HARRIS Technologies Inc. 1.54% 11,611 $3.5M Reduce -10.0%
SBUX Starbucks Corp. 1.53% 41,523 $3.5M Reduce -10.3%
BLK BlackRock Inc. 1.51% 2,989 $3.5M Reduce -12.2%
NSC Norfolk Southern Corp. 1.49% 11,394 $3.4M Reduce -7.5%
ABT Abbott Laboratories 1.43% 24,587 $3.3M Reduce -11.1%
SNA Snap-on Inc. 1.38% 9,180 $3.2M Reduce -9.6%
NEE Nextera Energy Inc. 1.26% 38,370 $2.9M Reduce -8.1%
VOO Vanguard S&P 500 ETF 1.25% 4,692 $2.9M No change
XLB SS Materials Select Sector 1.20% 30,833 $2.8M Reduce -5.0%
CHKP Check Point Software Tech 1.15% 12,783 $2.6M Reduce -10.8%
CVX Chevron Corp. 1.11% 16,432 $2.6M Reduce -9.5%
PG The Procter & Gamble Co. 1.08% 16,203 $2.5M Reduce -7.3%
PSCT Invesco S&P Smallcap Informa 1.07% 46,504 $2.5M Reduce -9.9%
KO The Coca-Cola Co. 1.07% 36,682 $2.5M Reduce -9.8%
APD Air Products & Chemicals Inc. 1.01% 8,491 $2.3M Reduce -11.1%
VFH Vanguard Financials ETF 0.95% 16,713 $2.2M Reduce -7.4%
DHR Danaher Corp. 0.91% 10,483 $2.1M Reduce -5.4%
KMB Kimberly-Clark Corp. 0.84% 15,393 $1.9M Reduce -8.7%
V Visa Inc. Class A 0.83% 5,593 $1.9M Reduce -10.6%
SHEL Shell PLC-ADR 0.83% 26,648 $1.9M Reduce -13.0%
PEP Pepsico Inc. 0.81% 13,255 $1.9M Reduce -6.4%
PSX Phillips 66 0.78% 13,213 $1.8M Reduce -7.5%
CSCO Cisco Systems Inc. 0.77% 25,820 $1.8M Reduce -9.8%
UNH Unitedhealth Group Inc. 0.76% 5,036 $1.7M Reduce -4.5%
SAP Sap SE-Sponsored ADR 0.72% 6,169 $1.6M Reduce -11.3%
FNDX Schwab Fndmntl US LRG Co. ETF 0.68% 59,391 $1.6M No change
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.66% 29,812 $1.5M Reduce -7.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.65% 13,033 $1.5M Reduce -10.2%
NVDA Nvidia Corp. 0.63% 7,825 $1.5M Reduce -5.7%
COP Conocophillips 0.63% 15,435 $1.5M Reduce -4.0%
BDX Becton Dickinson and Co. 0.63% 7,685 $1.4M Reduce -10.5%
UPS United Parcel Service Class B 0.56% 15,513 $1.3M Reduce -6.6%
SGOL Abrdn Physical Gold Shares 0.55% 34,550 $1.3M No change
VTEB Vanguard Tax-Exempt Bond ETF 0.54% 24,945 $1.2M No change
BMY Bristol-Myers Squibb Co. 0.53% 26,848 $1.2M Reduce -11.5%
CL Colgate-Palmolive Co. 0.51% 14,532 $1.2M Reduce -9.0%
SIVR Abrdn Physical Silver Shares 0.50% 26,000 $1.2M No change
WEC WEC Energy Group Inc. 0.49% 9,850 $1.1M Reduce -13.8%
INTC Intel Corp. 0.49% 33,607 $1.1M Reduce -9.8%
AXP American Express Co. 0.44% 3,050 $1.0M No change
AVUV Avantis US Small Cap Value 0.42% 9,725 $968K Reduce -28.6%
SCHF Schwab Intl Equity ETF 0.37% 36,516 $850K No change
KVUE Kenvue Inc. 0.37% 52,105 $846K Reduce -4.5%
EWG iShares MSCI Germany ETF 0.37% 20,273 $844K Reduce -11.2%
JNJ Johnson & Johnson 0.35% 4,351 $807K Reduce -13.0%
PFE Pfizer Inc. 0.34% 30,825 $785K Reduce -5.8%
BRK.A Berkshire Hathaway Inc. Class A 0.33% 1 $754K No change
GLD SPDR Gold Shares 0.33% 2,107 $749K No change
XOM Exxon Mobil Corp. 0.32% 6,476 $730K Reduce -4.4%
GOOGL Alphabet Inc. Class A 0.30% 2,871 $698K Reduce -1.4%
SCHX Schwab US Large-Cap ETF 0.30% 26,034 $686K No change
MUB iShares National Muni Bond E 0.29% 6,292 $670K Add +27.1%
IVV iShares Core S&P 500 ETF 0.28% 973 $651K New
VBIL Vanguard 0-3M T-Bill ETF 0.25% 7,690 $581K New
NFLX Netflix Inc. 0.25% 485 $581K No change
VEA Vanguard Ftse Developed ETF 0.22% 8,544 $512K Add +76.9%
PRFZ Inv Rafi US 1500 SM-Usd Inc. 0.22% 11,004 $500K No change
MDY State Street SPDR S&P Midcap 0.22% 833 $498K No change
VB Vanguard Most SM-Cap ETF-Usd 0.22% 1,952 $498K No change
PXF Invesco Rafi Developed Marke 0.21% 7,887 $482K No change
VT Vanguard Tot World STK ETF 0.20% 3,361 $463K Reduce -10.7%
JFLX JPMorgan Flexible Debt ETF 0.20% 9,025 $453K New
JPM JPMorgan Chase & Co. 0.18% 1,345 $424K No change
XLRE SS Real Estate Select Sector 0.18% 10,035 $423K Reduce -22.6%
VGUS Vanguard Ultra SHRT Treasury 0.18% 5,330 $403K New
FNDA Schwab Fndmntl US SM Co. ETF 0.17% 12,400 $386K No change
AWK American Water Works Co. Inc. 0.17% 2,760 $384K Reduce -15.3%
SCHM Schwab US Mid Cap ETF 0.16% 12,164 $361K No change
ADBE Adobe Inc. 0.16% 1,019 $359K No change
EPI Wisdomtree India Earnings 0.15% 7,824 $346K Reduce -3.9%
SCHD Schwab US DVD Equity ETF 0.15% 12,392 $338K New
FNDF Schwab Fndmn Intl LRG Co. ETF 0.14% 7,539 $324K No change
WMT Walmart Inc. 0.14% 3,073 $317K No change
FICO Fair Isaac Corp. 0.13% 200 $299K Reduce -4.8%
AMP Ameriprise Financial Inc. 0.13% 600 $295K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.12% 590 $283K No change
ORCL Oracle Corp. 0.11% 900 $253K Reduce -37.3%
TMO Thermo Fisher Scientific Inc. 0.10% 472 $229K New
META Meta Platforms Inc. Class A 0.10% 309 $227K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.10% 336 $224K No change
BA The Boeing Co. 0.10% 1,034 $223K New
GS Goldman Sachs Group Inc. 0.10% 275 $219K New
HD Home Depot Inc. 0.09% 528 $214K New
SCHA Schwab US Small-Cap ETF 0.09% 7,547 $211K New
QQQ Invesco QQQ Trust Series 1 0.09% 344 $207K New
RSPG Invesco S&P 500 Equal Weight 0.09% 2,571 $205K New
KNF Knife River Corp. 0.09% 2,652 $204K Reduce -11.2%
VYM Vanguard High DVD Yield ETF 0.09% 1,443 $203K New
PLX Protalix Biotherapeutics Inc. 0.01% 10,100 $22K No change
SENS Senseonics Holdings Inc. 0.00% 11,500 $5K No change

Portfolio Sells Q2 2025 → Q3 2025
COST Costco Wholesale Corp. Reduce -7.6% 6.77% −1.03
NVO Novo-Nordisk A/S-Spons ADR Reduce -9.5% 1.80% −0.66
ADP Automatic Data Processing Reduce -13.7% 1.72% −0.36
SBUX Starbucks Corp. Reduce -10.3% 1.53% −0.31
AMZN Amazon.com Inc. Reduce -8.7% 3.37% −0.30
SYK Stryker Corp. Reduce -6.9% 2.00% −0.29
WM Waste Management Inc. Reduce -8.9% 1.86% −0.25
TTE Totalenergies SE -Spon ADR Sold out 0.00% −0.22
CHKP Check Point Software Tech Reduce -10.8% 1.15% −0.22
PCAR Paccar Inc. Reduce -13.9% 1.88% −0.22
MSFT Microsoft Corp. Reduce -6.0% 12.68% −0.20
SAP Sap SE-Sponsored ADR Reduce -11.3% 0.72% −0.20
ABT Abbott Laboratories Reduce -11.1% 1.43% −0.19
KO The Coca-Cola Co. Reduce -9.8% 1.07% −0.19
UPS United Parcel Service Class B Reduce -6.6% 0.56% −0.16
APD Air Products & Chemicals Inc. Reduce -11.1% 1.01% −0.16
DIS The Walt Disney Co. Reduce -10.2% 0.65% −0.13
V Visa Inc. Class A Reduce -10.6% 0.83% −0.13
KVUE Kenvue Inc. Reduce -4.5% 0.37% −0.13
CL Colgate-Palmolive Co. Reduce -9.0% 0.51% −0.12
PG The Procter & Gamble Co. Reduce -7.3% 1.08% −0.12
AVUV Avantis US Small Cap Value Reduce -28.6% 0.42% −0.12
KMB Kimberly-Clark Corp. Reduce -8.7% 0.84% −0.11
SHEL Shell PLC-ADR Reduce -13.0% 0.83% −0.10
CSCO Cisco Systems Inc. Reduce -9.8% 0.77% −0.09
BRK.B Berkshire Hathaway Inc. Class B Reduce -7.3% 2.39% −0.09
HON Honeywell International Inc. Sold out 0.00% −0.09
BMY Bristol-Myers Squibb Co. Reduce -11.5% 0.53% −0.08
EWG iShares MSCI Germany ETF Reduce -11.2% 0.37% −0.05
JMST JPM Ultra-Short Muni Income Reduce -7.5% 0.66% −0.05
XLRE SS Real Estate Select Sector Reduce -22.6% 0.18% −0.05
DHR Danaher Corp. Reduce -5.4% 0.91% −0.04
VFH Vanguard Financials ETF Reduce -7.4% 0.95% −0.04
FICO Fair Isaac Corp. Reduce -4.8% 0.13% −0.04
XLB SS Materials Select Sector Reduce -5.0% 1.20% −0.03
BLK BlackRock Inc. Reduce -12.2% 1.51% −0.03
AWK American Water Works Co. Inc. Reduce -15.3% 0.17% −0.03
ORCL Oracle Corp. Reduce -37.3% 0.11% −0.03
WEC WEC Energy Group Inc. Reduce -13.8% 0.49% −0.02
KNF Knife River Corp. Reduce -11.2% 0.09% −0.02
EPI Wisdomtree India Earnings Reduce -3.9% 0.15% −0.02
CVX Chevron Corp. Reduce -9.5% 1.11% −0.02
BDX Becton Dickinson and Co. Reduce -10.5% 0.63% −0.01
VT Vanguard Tot World STK ETF Reduce -10.7% 0.20% −0.01
PFE Pfizer Inc. Reduce -5.8% 0.34% −0.00
PEP Pepsico Inc. Reduce -6.4% 0.81% +0.00
XOM Exxon Mobil Corp. Reduce -4.4% 0.32% +0.00
NEE Nextera Energy Inc. Reduce -8.1% 1.26% +0.01
COP Conocophillips Reduce -4.0% 0.63% +0.01
SNA Snap-on Inc. Reduce -9.6% 1.38% +0.02

Portfolio Buys Q2 2025 → Q3 2025
VUSB Vanguard Ultra Short Bond Et Add +119.0% 2.19% +1.20
JPST JPMorgan Ultra-Short Income Add +45.4% 3.72% +1.18
IVV iShares Core S&P 500 ETF New 0.28% +0.28
VBIL Vanguard 0-3M T-Bill ETF New 0.25% +0.25
JFLX JPMorgan Flexible Debt ETF New 0.20% +0.20
VGUS Vanguard Ultra SHRT Treasury New 0.18% +0.18
SCHD Schwab US DVD Equity ETF New 0.15% +0.15
VEA Vanguard Ftse Developed ETF Add +76.9% 0.22% +0.10
TMO Thermo Fisher Scientific Inc. New 0.10% +0.10
BA The Boeing Co. New 0.10% +0.10
GS Goldman Sachs Group Inc. New 0.10% +0.10
HD Home Depot Inc. New 0.09% +0.09
SCHA Schwab US Small-Cap ETF New 0.09% +0.09
QQQ Invesco QQQ Trust Series 1 New 0.09% +0.09
RSPG Invesco S&P 500 Equal Weight New 0.09% +0.09
VYM Vanguard High DVD Yield ETF New 0.09% +0.09
MUB iShares National Muni Bond E Add +27.1% 0.29% +0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$193.6MMSFT, VUSB, JPST, COST, VBIL
Q1 2026 101$184.2MMSFT, VUSB, COST, VBIL, JPST
Q4 2025 99$188.6MMSFT, COST, AAPL, JPST, VUSB
Q3 2025 106$230.0MMSFT, COST, AAPL, JPST, AVGO
Q2 2025 95$231.2MMSFT, COST, AAPL, AMZN, AVGO
Q1 2025 96$221.1MMSFT, COST, AAPL, AMZN, BRK.B
Q4 2024 98$228.0MMSFT, COST, AAPL, AMZN, NVO
Q3 2024 91$225.7MMSFT, COST, AAPL, NVO, AMZN
Q2 2024 87$216.5MMSFT, COST, NVO, AAPL, AMZN
Q1 2024 88$213.1MMSFT, COST, NVO, AAPL, AMZN