Harfst & Associates, Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Harfst & Associates, Inc. reported 116 stock positions worth $432.7 million. Its top holding was Raymond James Financial (RJF) at 33.4% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 14.1%) and Invesco QQQ Trust Series 1 (QQQ, 5.8%). Compared with Q4 2024, it opened 30 new positions, sold out of 7, added to 17 and reduced 59. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +3%) and the biggest sale Raymond James Financial (RJF, shares −8%).

Most Recent 13F
Q2 2026
Location
Sheridan, WY
CIK
0001649147
Portfolio Value
$432.7M (Q1 2025)
SEC Filing
0001172661-25-001731 ↗ filed May 13, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $421.2M Q1 2024 Q2 2024: $429.0M Q2 2024 Q3 2024: $445.2M Q3 2024 Q4 2024: $480.0M Q4 2024 Q1 2025: $432.7M $432.7M Q1 2025 Q2 2025: $484.9M Q2 2025 Q3 2025: $542.2M Q3 2025 Q4 2025: $554.6M Q4 2025 Q1 2026: $560.2M Q1 2026 Q2 2026: $643.4M Q2 2026

Holdings 116 stocks · $432.7M
RJF Raymond James Financial Inc. 33.42% 1,040,956 $144.6M Reduce -7.6%
IVV iShares Core S&P 500 ETF 14.06% 108,241 $60.8M Add +2.7%
QQQ Invesco QQQ Trust Series 1 5.76% 53,160 $24.9M Add +0.5%
VIS Vanguard Industrials ETF 3.71% 64,837 $16.1M Add +3.8%
PG The Procter & Gamble Co. 3.59% 91,181 $15.5M Reduce -1.6%
AAPL Apple Inc. 1.97% 38,302 $8.5M Reduce -0.7%
LAD Lithia Motors Inc. 1.94% 28,608 $8.4M Reduce -5.7%
VTI VG Morningstar TS MKT ETF-US 1.86% 29,328 $8.1M Reduce -1.3%
NVDA Nvidia Corp. 1.37% 54,733 $5.9M Reduce -1.5%
BRK.B Berkshire Hathaway Inc. Class B 1.14% 9,249 $4.9M Reduce -16.3%
MSFT Microsoft Corp. 1.11% 12,764 $4.8M Reduce -3.8%
COST Costco Wholesale Corp. 0.98% 4,484 $4.2M Reduce -2.3%
TCAF T Rowe PRC Cap Appreciation 0.93% 124,996 $4.0M Add +71.7%
V Visa Inc. Class A 0.85% 10,486 $3.7M Reduce -4.3%
AMZN Amazon.com Inc. 0.83% 18,764 $3.6M Reduce -1.9%
SCHW Schwab (charles) Corp. 0.79% 43,640 $3.4M Reduce -1.2%
GOOGL Alphabet Inc. Class A 0.79% 21,978 $3.4M Reduce -0.8%
CMI Cummins Inc. 0.70% 9,665 $3.0M Reduce -5.0%
XOM Exxon Mobil Corp. 0.69% 25,039 $3.0M Reduce -13.5%
ADBE Adobe Inc. 0.69% 7,748 $3.0M Add +1.1%
AIT Applied Industrial Tech Inc. 0.68% 12,988 $2.9M Reduce -4.8%
INTU Intuit Inc. 0.64% 4,488 $2.8M Add +0.3%
BLK BlackRock Inc. 0.63% 2,878 $2.7M Reduce -0.2%
NTRS Northern Trust Corp. 0.63% 27,548 $2.7M Reduce -1.6%
NOW ServiceNow Inc. 0.62% 3,361 $2.7M Reduce -3.6%
FAST Fastenal Co. 0.61% 33,960 $2.6M Reduce -9.4%
AMD Advanced Micro Devices 0.60% 25,447 $2.6M Reduce -0.8%
TXN Texas Instruments Inc. 0.58% 13,854 $2.5M Reduce -2.6%
PGR Progressive Corp. 0.57% 8,683 $2.5M Reduce -10.8%
AMAT Applied Materials Inc. 0.56% 16,624 $2.4M Reduce -1.8%
AMP Ameriprise Financial Inc. 0.55% 4,872 $2.4M Add +0.5%
META Meta Platforms Inc. Class A 0.54% 4,057 $2.3M Reduce -5.9%
VOO Vanguard S&P 500 ETF 0.51% 4,268 $2.2M No change
GGG Graco Inc. 0.49% 25,240 $2.1M Add +1.4%
CRM Salesforce Inc. 0.48% 7,716 $2.1M Add +1.7%
CVX Chevron Corp. 0.47% 12,221 $2.0M Reduce -1.1%
LRCX Lam Research Corp. 0.46% 27,423 $2.0M Add +2.1%
ODFL Old Dominion Freight Line 0.45% 11,722 $1.9M Add +5.0%
EOG EOG Resources Inc. 0.45% 15,071 $1.9M Add +1.9%
MPWR Monolithic Power Systems Inc. 0.44% 3,271 $1.9M Reduce -3.5%
JNJ Johnson & Johnson 0.44% 11,438 $1.9M Reduce -10.8%
BRK.A Berkshire Hathaway Inc. Class A 0.37% 2 $1.6M New
SPLV Invesco S&P 500 Low Volatili 0.31% 18,188 $1.4M No change
SSD Simpson Manufacturing Co. Inc. 0.28% 7,831 $1.2M Reduce -50.0%
EXPD Expeditors Intl Wash Inc. 0.28% 10,207 $1.2M Reduce -52.3%
UFPI Ufp Industries Inc. 0.28% 11,276 $1.2M Reduce -52.4%
ADI Analog Devices Inc. 0.26% 5,528 $1.1M Reduce -55.2%
RMD Resmed Inc. 0.25% 4,899 $1.1M Reduce -58.1%
APH Amphenol Corp. Class A 0.24% 15,734 $1.0M New
TRV The Travelers Cos Inc. 0.24% 3,898 $1.0M Reduce -59.8%
AME Ametek Inc. 0.23% 5,722 $985K New
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.23% 996 $984K Reduce -57.6%
MLM Martin Marietta Materials 0.23% 2,046 $978K New
CAT Caterpillar Inc. 0.22% 2,941 $970K No change
AOS Smith (a.o.) Corp. 0.22% 14,439 $944K Reduce -55.3%
ABT Abbott Laboratories 0.21% 6,973 $925K Reduce -63.1%
VXF Vanguard Extended Market ETF 0.21% 5,203 $896K Add +0.0%
TSLA Tesla Inc. 0.21% 3,454 $895K Reduce -6.9%
ENSG The Ensign Group Inc. 0.21% 6,867 $889K Reduce -59.2%
CPRT Copart Inc. 0.20% 15,512 $878K Add +256.6%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.20% 3,012 $868K New
WST West Pharmaceutical Services 0.19% 3,732 $836K Reduce -51.1%
GNTX Gentex Corp. 0.19% 35,170 $819K Reduce -52.8%
IWF iShares Russell 1000 Growth 0.18% 2,181 $788K No change
WMT Walmart Inc. 0.18% 8,895 $781K New
DSI iShares ESG MSCI KLD 400 ETF 0.18% 7,494 $767K Reduce -2.0%
APO Apollo Global Management Inc. 0.17% 5,440 $745K New
EBAY eBay Inc. 0.17% 10,699 $725K New
NKE Nike Inc. Class B 0.17% 11,406 $724K Reduce -54.9%
GE General Electric filed as GE AEROSPACE 0.17% 3,606 $722K New
AFL Aflac Inc. 0.17% 6,458 $718K New
NFLX Netflix Inc. 0.16% 752 $701K New
CTAS Cintas Corp. 0.16% 3,394 $698K New
DHR Danaher Corp. 0.16% 3,298 $676K New
DPZ Domino's Pizza Inc. 0.16% 1,465 $673K New
PSX Phillips 66 0.16% 5,449 $673K New
WM Waste Management Inc. 0.16% 2,906 $673K New
ISRG Intuitive Surgical Inc. 0.16% 1,356 $672K New
MS Morgan Stanley 0.15% 5,636 $658K New
SCHM Schwab US Mid Cap ETF 0.15% 25,043 $656K Reduce -0.5%
DOV Dover Corp. 0.15% 3,724 $654K New
HUBB Hubbell Inc. 0.15% 1,976 $654K New
J Jacobs Solutions Inc. 0.15% 5,359 $648K New
NTAP Netapp Inc. 0.15% 7,234 $635K New
KLAC KLA Corp. 0.14% 919 $625K New
TT Trane Technologies PLC 0.14% 1,851 $624K New
MCD McDonald's Corp. 0.14% 1,987 $621K New
SPGI S&P Global Inc. 0.14% 1,217 $618K New
IBKR Interactive Brokers Gro Class A 0.14% 3,667 $607K New
PCAR Paccar Inc. 0.14% 6,224 $606K New
TMO Thermo Fisher Scientific Inc. 0.14% 1,209 $602K New
ABBV Abbvie Inc. 0.13% 2,641 $553K No change
ICE Intercontinental Exchange Inc. 0.12% 2,934 $506K Reduce -23.7%
CSCO Cisco Systems Inc. 0.09% 6,413 $396K Reduce -12.0%
UNH Unitedhealth Group Inc. 0.08% 701 $367K Reduce -13.3%
SDY SS SPDR S&P Dividend ETF 0.08% 2,695 $366K Reduce -8.8%
VTV Vanguard Mrngstr Val ETF-Aui 0.08% 2,096 $362K Add +31.0%
ELV Elevance Health Inc. 0.08% 803 $349K Reduce -12.1%
MET Metlife Inc. 0.08% 4,318 $347K Reduce -15.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.08% 588 $329K No change
CI The Cigna Group 0.07% 951 $313K No change
APD Air Products & Chemicals Inc. 0.07% 1,043 $308K Reduce -13.7%
ONEQ Fidelity Nasdaq Comp Indx 0.07% 4,504 $307K Add +0.7%
ACN Accenture PLC Class A 0.07% 974 $304K Reduce -14.0%
LOW Lowe's Cos Inc. 0.07% 1,298 $303K Reduce -1.5%
MELI MercadoLibre Inc. 0.07% 150 $293K No change
HON Honeywell International Inc. 0.07% 1,379 $292K Reduce -14.1%
MRK Merck & Co. Inc. 0.07% 3,138 $282K Reduce -11.9%
QCOM Qualcomm Inc. 0.07% 1,832 $281K Reduce -14.9%
PM Philip Morris International 0.07% 1,771 $281K Add +1.1%
PEP Pepsico Inc. 0.06% 1,790 $268K No change
VMC Vulcan Materials Co. 0.06% 1,118 $261K New
MDT Medtronic PLC 0.05% 2,442 $219K Reduce -15.5%
SUSA iShares ESG Optimized MSCI U 0.05% 1,891 $217K Reduce -10.6%
PPG PPG Industries Inc. 0.05% 1,949 $213K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 5,002 $209K Reduce -0.9%

Portfolio Sells Q4 2024 → Q1 2025
RJF Raymond James Financial Inc. Reduce -7.6% 33.42% −3.02
BARNES GROUP INC Sold out 0.00% −1.09
WST West Pharmaceutical Services Reduce -51.1% 0.19% −0.33
LAD Lithia Motors Inc. Reduce -5.7% 1.94% −0.32
RMD Resmed Inc. Reduce -58.1% 0.25% −0.30
GWW WW Grainger Inc. Reduce -57.6% 0.23% −0.29
ADI Analog Devices Inc. Reduce -55.2% 0.26% −0.29
UFPI Ufp Industries Inc. Reduce -52.4% 0.28% −0.28
ENSG The Ensign Group Inc. Reduce -59.2% 0.21% −0.26
SSD Simpson Manufacturing Co. Inc. Reduce -50.0% 0.28% −0.26
GNTX Gentex Corp. Reduce -52.8% 0.19% −0.26
TRV The Travelers Cos Inc. Reduce -59.8% 0.24% −0.25
AOS Smith (a.o.) Corp. Reduce -55.3% 0.22% −0.24
ABT Abbott Laboratories Reduce -63.1% 0.21% −0.23
NKE Nike Inc. Class B Reduce -54.9% 0.17% −0.23
EXPD Expeditors Intl Wash Inc. Reduce -52.3% 0.28% −0.21
NVDA Nvidia Corp. Reduce -1.5% 1.37% −0.18
NOW ServiceNow Inc. Reduce -3.6% 0.62% −0.15
TSLA Tesla Inc. Reduce -6.9% 0.21% −0.11
GOOGL Alphabet Inc. Class A Reduce -0.8% 0.79% −0.09
MSFT Microsoft Corp. Reduce -3.8% 1.11% −0.06
GOOG Alphabet Inc. Class C Sold out 0.00% −0.05
AMZN Amazon.com Inc. Reduce -1.9% 0.83% −0.05
COLM Columbia Sportswear Co. Sold out 0.00% −0.05
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.05
AAPL Apple Inc. Reduce -0.7% 1.97% −0.05
DLB Dolby Laboratories Inc. Class A Sold out 0.00% −0.04
LFUS Littelfuse Inc. Sold out 0.00% −0.04
IWV iShares Russell 3000 ETF Sold out 0.00% −0.04
AMD Advanced Micro Devices Reduce -0.8% 0.60% −0.04
CMI Cummins Inc. Reduce -5.0% 0.70% −0.04
AMAT Applied Materials Inc. Reduce -1.8% 0.56% −0.02
ACN Accenture PLC Class A Reduce -14.0% 0.07% −0.01
MRK Merck & Co. Inc. Reduce -11.9% 0.07% −0.01
HON Honeywell International Inc. Reduce -14.1% 0.07% −0.01
MET Metlife Inc. Reduce -15.0% 0.08% −0.01
QCOM Qualcomm Inc. Reduce -14.9% 0.07% −0.00
AIT Applied Industrial Tech Inc. Reduce -4.8% 0.68% −0.00
SUSA iShares ESG Optimized MSCI U Reduce -10.6% 0.05% −0.00
ICE Intercontinental Exchange Inc. Reduce -23.7% 0.12% −0.00
APD Air Products & Chemicals Inc. Reduce -13.7% 0.07% −0.00
UNH Unitedhealth Group Inc. Reduce -13.3% 0.08% −0.00
CSCO Cisco Systems Inc. Reduce -12.0% 0.09% +0.00
DSI iShares ESG MSCI KLD 400 ETF Reduce -2.0% 0.18% +0.00
BAC Bank of America Corp. Reduce -0.9% 0.05% +0.00
LOW Lowe's Cos Inc. Reduce -1.5% 0.07% +0.00
MDT Medtronic PLC Reduce -15.5% 0.05% +0.00
SDY SS SPDR S&P Dividend ETF Reduce -8.8% 0.08% +0.00
SCHM Schwab US Mid Cap ETF Reduce -0.5% 0.15% +0.01
ELV Elevance Health Inc. Reduce -12.1% 0.08% +0.01

Portfolio Buys Q4 2024 → Q1 2025
IVV iShares Core S&P 500 ETF Add +2.7% 14.06% +1.13
TCAF T Rowe PRC Cap Appreciation Add +71.7% 0.93% +0.43
VIS Vanguard Industrials ETF Add +3.8% 3.71% +0.40
BRK.A Berkshire Hathaway Inc. Class A New 0.37% +0.37
APH Amphenol Corp. Class A New 0.24% +0.24
AME Ametek Inc. New 0.23% +0.23
MLM Martin Marietta Materials New 0.23% +0.23
MSTR Strategy Inc. New 0.20% +0.20
WMT Walmart Inc. New 0.18% +0.18
APO Apollo Global Management Inc. New 0.17% +0.17
EBAY eBay Inc. New 0.17% +0.17
GE General Electric New 0.17% +0.17
AFL Aflac Inc. New 0.17% +0.17
NFLX Netflix Inc. New 0.16% +0.16
CTAS Cintas Corp. New 0.16% +0.16
DHR Danaher Corp. New 0.16% +0.16
DPZ Domino's Pizza Inc. New 0.16% +0.16
PSX Phillips 66 New 0.16% +0.16
WM Waste Management Inc. New 0.16% +0.16
ISRG Intuitive Surgical Inc. New 0.16% +0.16
MS Morgan Stanley New 0.15% +0.15
DOV Dover Corp. New 0.15% +0.15
HUBB Hubbell Inc. New 0.15% +0.15
CPRT Copart Inc. Add +256.6% 0.20% +0.15
J Jacobs Solutions Inc. New 0.15% +0.15
NTAP Netapp Inc. New 0.15% +0.15
KLAC KLA Corp. New 0.14% +0.14
TT Trane Technologies PLC New 0.14% +0.14
MCD McDonald's Corp. New 0.14% +0.14
SPGI S&P Global Inc. New 0.14% +0.14
IBKR Interactive Brokers Gro Class A New 0.14% +0.14
PCAR Paccar Inc. New 0.14% +0.14
TMO Thermo Fisher Scientific Inc. New 0.14% +0.14
QQQ Invesco QQQ Trust Series 1 Add +0.5% 5.76% +0.12
EOG EOG Resources Inc. Add +1.9% 0.45% +0.07
VMC Vulcan Materials Co. New 0.06% +0.06
LRCX Lam Research Corp. Add +2.1% 0.46% +0.06
INTU Intuit Inc. Add +0.3% 0.64% +0.05
GGG Graco Inc. Add +1.4% 0.49% +0.05
ODFL Old Dominion Freight Line Add +5.0% 0.45% +0.04
VTV Vanguard Mrngstr Val ETF-Aui Add +31.0% 0.08% +0.03
PM Philip Morris International Add +1.1% 0.07% +0.02
AMP Ameriprise Financial Inc. Add +0.5% 0.55% +0.01
VXF Vanguard Extended Market ETF Add +0.0% 0.21% +0.00
ONEQ Fidelity Nasdaq Comp Indx Add +0.7% 0.07% 0.00
ADBE Adobe Inc. Add +1.1% 0.69% −0.02
CRM Salesforce Inc. Add +1.7% 0.48% −0.05

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 124$643.4MRJF, IVV, QQQ, VIS, TBUX
Q1 2026 121$560.2MRJF, IVV, QQQ, VIS, TBUX
Q4 2025 111$554.6MRJF, IVV, QQQ, VIS, TCAF
Q3 2025 112$542.2MRJF, IVV, QQQ, VIS, PG
Q2 2025 98$484.9MRJF, IVV, QQQ, VIS, PG
Q1 2025 116$432.7MRJF, IVV, QQQ, VIS, PG
Q4 2024 93$480.0MRJF, IVV, QQQ, VIS, PG
Q3 2024 95$445.2MRJF, IVV, QQQ, PG, VIS
Q2 2024 104$429.0MRJF, IVV, QQQ, PG, VIS
Q1 2024Amended 105$421.2MRJF, IVV, QQQ, PG, VTI