Hayek Kallen Investment Management

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Hayek Kallen Investment Management reported 94 stock positions worth $316.8 million. Its top holding was Apple (AAPL) at 11.0% of the portfolio, followed by Microsoft (MSFT, 9.7%) and Berkshire Hathaway Class B (BRK.B, 5.8%). Compared with Q2 2025, it opened 3 new positions, sold out of 3, added to 27 and reduced 39. The biggest buy was Alphabet Class A (GOOGL, shares +1%) and the biggest sale Vanguard Short-Term Treasury (VGSH, shares −92%).

Most Recent 13F
Q2 2026
Location
FAIRHOPE, AL
CIK
0001430681
Portfolio Value
$316.8M (Q3 2025)
SEC Filing
0001430681-25-000005 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $260.9M Q1 2024 Q2 2024: $268.2M Q2 2024 Q3 2024: $282.2M Q3 2024 Q4 2024: $275.1M Q4 2024 Q1 2025: $271.5M Q1 2025 Q2 2025: $294.0M Q2 2025 Q3 2025: $316.8M $316.8M Q3 2025 Q4 2025: $316.8M Q4 2025 Q1 2026: $307.0M Q1 2026 Q2 2026: $329.7M Q2 2026

Holdings 94 stocks · $316.8M
AAPL Apple Inc. 10.98% 136,659 $34.8M Reduce -0.6%
MSFT Microsoft Corp. 9.72% 59,437 $30.8M Reduce -1.1%
BRK.B Berkshire Hathaway Inc. Class B 5.77% 36,356 $18.3M Reduce -0.2%
GOOGL Alphabet Inc. Class A 4.25% 55,412 $13.5M Add +0.7%
NVDA Nvidia Corp. 4.19% 71,201 $13.3M Reduce -4.5%
WMT Walmart Inc. 4.05% 124,602 $12.8M Reduce -0.0%
ORCL Oracle Corp. 3.64% 41,062 $11.5M Reduce -5.7%
WM Waste Management Inc. 3.25% 46,650 $10.3M Add +0.7%
JPM JPMorgan Chase & Co. 2.92% 29,331 $9.3M Add +0.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.46% 27,650 $7.8M Add +0.0%
ABBV Abbvie Inc. 2.45% 33,486 $7.8M Reduce -0.4%
V Visa Inc. Class A 2.33% 21,583 $7.4M Add +0.1%
JNJ Johnson & Johnson 2.16% 36,831 $6.8M Reduce -0.4%
CAT Caterpillar Inc. 1.93% 12,825 $6.1M Reduce -0.9%
VZ Verizon Communications Inc. 1.75% 125,992 $5.5M Add +8.6%
SGOV iShares 0-3 Month Treasury B 1.66% 52,200 $5.3M Add +15.1%
AMZN Amazon.com Inc. 1.64% 23,644 $5.2M Add +0.4%
KO The Coca-Cola Co. 1.61% 76,843 $5.1M Reduce -0.3%
NVS Novartis AG-Sponsored ADR 1.57% 38,865 $5.0M Reduce -0.1%
PM Philip Morris International 1.54% 30,111 $4.9M No change
UNP Union Pacific Corp. 1.46% 19,549 $4.6M Reduce -1.2%
TMO Thermo Fisher Scientific Inc. 1.45% 9,485 $4.6M Reduce -5.4%
JPST JPMorgan Ultra-Short Income 1.28% 79,695 $4.0M Add +2.1%
BP BP PLC-Spons ADR 1.22% 112,582 $3.9M Reduce -0.2%
PEP Pepsico Inc. 1.18% 26,544 $3.7M Reduce -0.4%
QQQ Invesco QQQ Trust Series 1 1.15% 6,077 $3.6M Reduce -0.9%
MCD McDonald's Corp. 1.11% 11,578 $3.5M Reduce -2.0%
VYM Vanguard High DVD Yield ETF 0.92% 20,676 $2.9M Add +7.1%
VCIT Vanguard Int-Term Corporate 0.91% 49,050 $2.9M Add +1070.6%
MO Altria Group Inc. 0.91% 43,513 $2.9M Add +0.3%
SO The Southern Co. 0.87% 28,964 $2.7M Reduce -3.0%
PFE Pfizer Inc. 0.85% 105,093 $2.7M Reduce -1.3%
DE Deere & Co. 0.73% 5,069 $2.3M Add +290.2%
CSCO Cisco Systems Inc. 0.69% 31,811 $2.2M Reduce -0.5%
ACN Accenture PLC Class A 0.67% 8,641 $2.1M Reduce -10.0%
CVX Chevron Corp. 0.67% 13,701 $2.1M Add +4.6%
LOW Lowe's Cos Inc. 0.67% 8,426 $2.1M Reduce -1.7%
XOM Exxon Mobil Corp. 0.65% 18,172 $2.0M Add +0.1%
MRK Merck & Co. Inc. 0.64% 24,139 $2.0M Reduce -0.5%
T AT&T Inc. 0.64% 71,492 $2.0M Add +1.8%
C Citigroup Inc. 0.62% 19,396 $2.0M Add +0.1%
HD Home Depot Inc. 0.61% 4,756 $1.9M Reduce -0.2%
AGG iShares Core U.S. Aggregate 0.52% 16,472 $1.7M Reduce -0.5%
NVO Novo-Nordisk A/S-Spons ADR 0.49% 28,008 $1.6M Reduce -41.8%
USB US Bancorp 0.47% 30,553 $1.5M Add +9.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.43% 12,032 $1.4M Reduce -1.1%
DUK Duke Energy Corp. 0.41% 10,476 $1.3M Add +0.1%
SBUX Starbucks Corp. 0.41% 15,224 $1.3M Reduce -1.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.32% 19,717 $1.0M Add +1.1%
MA Mastercard Inc. Class A 0.32% 1,775 $1.0M No change
SHEL Shell PLC-ADR 0.32% 14,018 $1.0M Add +0.1%
SCHP Schwab U.S. Tips ETF 0.31% 36,520 $984K Reduce -1.6%
NSC Norfolk Southern Corp. 0.31% 3,220 $967K No change
TSLA Tesla Inc. 0.27% 1,928 $857K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.26% 1,245 $829K Add +5.2%
ABT Abbott Laboratories 0.26% 6,080 $814K Add +0.8%
RTX RTX Corp. 0.25% 4,764 $797K Add +0.0%
BA The Boeing Co. 0.25% 3,650 $788K No change
ADP Automatic Data Processing 0.24% 2,550 $748K No change
SCHD Schwab US DVD Equity ETF 0.23% 26,911 $735K Reduce -18.3%
META Meta Platforms Inc. Class A 0.23% 971 $713K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.22% 6,429 $701K No change
PH Parker Hannifin Corp. 0.20% 825 $625K Reduce -5.7%
GOOG Alphabet Inc. Class C 0.19% 2,530 $616K No change
D Dominion Energy Inc. 0.19% 9,828 $601K Reduce -2.0%
PG The Procter & Gamble Co. 0.19% 3,852 $592K Reduce -2.5%
WFC Wells Fargo & Co. 0.17% 6,360 $533K No change
TFC Truist Financial Corp. 0.16% 11,047 $505K No change
GL Globe Life Inc. 0.15% 3,425 $490K No change
TGT Target Corp. 0.15% 5,229 $469K Reduce -55.8%
HON Honeywell International Inc. 0.14% 2,181 $459K No change
AMRN Amarin Corp. PLC -ADR 0.13% 25,821 $423K Reduce -49.6%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.13% 896 $416K Reduce -5.3%
ETN Eaton Corp. PLC 0.13% 1,096 $410K No change
KVUE Kenvue Inc. 0.12% 23,800 $386K Reduce -27.7%
SUB iShares Short-Term National 0.12% 3,425 $366K No change
VGSH Vanguard Short-Term Treasury 0.11% 4,191 $353K Reduce -91.6%
CRMD Cormedix Inc. 0.11% 29,443 $342K New
SCHQ Schwab Long-Term US Treasury 0.11% 10,480 $339K Add +2.2%
AYI Acuity Inc. 0.11% 972 $335K No change
BX Blackstone Inc. 0.10% 1,850 $316K No change
MUB iShares National Muni Bond E 0.10% 1,305 $316K Reduce -53.4%
NZF Nuveen Municipal Credit Inc. 0.10% 24,605 $309K Add +0.3%
NEE Nextera Energy Inc. 0.10% 4,071 $307K No change
VTEB Vanguard Tax-Exempt Bond ETF 0.10% 6,007 $301K No change
IWM iShares Russell 2000 ETF 0.09% 2,800 $298K Add +114.6%
MDLZ Mondelez International Inc. Class A 0.09% 4,472 $279K No change
AVGO Broadcom Inc. 0.08% 798 $263K New
CTVA Corteva Inc. 0.07% 3,419 $231K No change
RSP Invesco S&P 500 Equal Weight 0.07% 1,200 $228K No change
HBAN Huntington Bancshares Inc. 0.07% 12,984 $224K No change
GS Goldman Sachs Group Inc. 0.07% 264 $210K New
KMB Kimberly-Clark Corp. 0.07% 1,674 $208K No change
AVXL Anavex Life Sciences Corp. 0.03% 12,103 $108K No change

Portfolio Sells Q2 2025 → Q3 2025
VGSH Vanguard Short-Term Treasury Reduce -91.6% 0.11% −0.89
NVO Novo-Nordisk A/S-Spons ADR Reduce -41.8% 0.49% −0.64
MSFT Microsoft Corp. Reduce -1.1% 9.72% −0.45
ACN Accenture PLC Class A Reduce -10.0% 0.67% −0.30
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.2% 5.77% −0.25
TGT Target Corp. Reduce -55.8% 0.15% −0.25
KO The Coca-Cola Co. Reduce -0.3% 1.61% −0.25
AMRN Amarin Corp. PLC -ADR Reduce -49.6% 0.13% −0.15
ZTS Zoetis Inc. Sold out 0.00% −0.11
KVUE Kenvue Inc. Reduce -27.7% 0.12% −0.11
WMT Walmart Inc. Reduce -0.0% 4.05% −0.09
UNP Union Pacific Corp. Reduce -1.2% 1.46% −0.09
DIS The Walt Disney Co. Reduce -1.1% 0.43% −0.08
SBUX Starbucks Corp. Reduce -1.5% 0.41% −0.07
ICLR Icon PLC Sold out 0.00% −0.07
CSCO Cisco Systems Inc. Reduce -0.5% 0.69% −0.07
SO The Southern Co. Reduce -3.0% 0.87% −0.07
SCHD Schwab US DVD Equity ETF Reduce -18.3% 0.23% −0.06
MCD McDonald's Corp. Reduce -2.0% 1.11% −0.06
NDMO Nuveen Dynamic Municipal Opp Sold out 0.00% −0.04
AGG iShares Core U.S. Aggregate Reduce -0.5% 0.52% −0.04
PFE Pfizer Inc. Reduce -1.3% 0.85% −0.03
NVS Novartis AG-Sponsored ADR Reduce -0.1% 1.57% −0.03
PG The Procter & Gamble Co. Reduce -2.5% 0.19% −0.03
SCHP Schwab U.S. Tips ETF Reduce -1.6% 0.31% −0.03
PEP Pepsico Inc. Reduce -0.4% 1.18% −0.02
MRK Merck & Co. Inc. Reduce -0.5% 0.64% −0.01
PH Parker Hannifin Corp. Reduce -5.7% 0.20% −0.01
DIA SS SPDR Dow Jones Indus Avg Reduce -5.3% 0.13% −0.01
D Dominion Energy Inc. Reduce -2.0% 0.19% −0.00
MUB iShares National Muni Bond E Reduce -53.4% 0.10% +0.00
QQQ Invesco QQQ Trust Series 1 Reduce -0.9% 1.15% +0.00
HD Home Depot Inc. Reduce -0.2% 0.61% +0.01
LOW Lowe's Cos Inc. Reduce -1.7% 0.67% +0.02
TMO Thermo Fisher Scientific Inc. Reduce -5.4% 1.45% +0.07
BP BP PLC-Spons ADR Reduce -0.2% 1.22% +0.08
NVDA Nvidia Corp. Reduce -4.5% 4.19% +0.19
CAT Caterpillar Inc. Reduce -0.9% 1.93% +0.22
JNJ Johnson & Johnson Reduce -0.4% 2.16% +0.23
ABBV Abbvie Inc. Reduce -0.4% 2.45% +0.32
ORCL Oracle Corp. Reduce -5.7% 3.64% +0.41
AAPL Apple Inc. Reduce -0.6% 10.98% +1.39

Portfolio Buys Q2 2025 → Q3 2025
GOOGL Alphabet Inc. Class A Add +0.7% 4.25% +0.95
VCIT Vanguard Int-Term Corporate Add +1070.6% 0.91% +0.79
DE Deere & Co. Add +290.2% 0.73% +0.51
CRMD Cormedix Inc. New 0.11% +0.11
SGOV iShares 0-3 Month Treasury B Add +15.1% 1.66% +0.11
AVGO Broadcom Inc. New 0.08% +0.08
GS Goldman Sachs Group Inc. New 0.07% +0.07
C Citigroup Inc. Add +0.1% 0.62% +0.06
JPM JPMorgan Chase & Co. Add +0.6% 2.92% +0.05
VYM Vanguard High DVD Yield ETF Add +7.1% 0.92% +0.04
MO Altria Group Inc. Add +0.3% 0.91% +0.04
VZ Verizon Communications Inc. Add +8.6% 1.75% +0.04
USB US Bancorp Add +9.3% 0.47% +0.04
CVX Chevron Corp. Add +4.6% 0.67% +0.03
RTX RTX Corp. Add +0.0% 0.25% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +5.2% 0.26% +0.01
BAC Bank of America Corp. Add +1.1% 0.32% +0.01
NZF Nuveen Municipal Credit Inc. Add +0.3% 0.10% −0.00
IWM iShares Russell 2000 ETF Add +114.6% 0.09% −0.00
SCHQ Schwab Long-Term US Treasury Add +2.2% 0.11% −0.00
DUK Duke Energy Corp. Add +0.1% 0.41% −0.01
XOM Exxon Mobil Corp. Add +0.1% 0.65% −0.02
SHEL Shell PLC-ADR Add +0.1% 0.32% −0.02
ABT Abbott Laboratories Add +0.8% 0.26% −0.02
T AT&T Inc. Add +1.8% 0.64% −0.05
JPST JPMorgan Ultra-Short Income Add +2.1% 1.28% −0.07
AMZN Amazon.com Inc. Add +0.4% 1.64% −0.12
V Visa Inc. Class A Add +0.1% 2.33% −0.28
IBM Intl Business Machines Corp. Add +0.0% 2.46% −0.31
WM Waste Management Inc. Add +0.7% 3.25% −0.35

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 97$329.7MAAPL, MSFT, GOOGL, BRK.B, WMT
Q1 2026 92$307.0MAAPL, MSFT, BRK.B, GOOGL, WMT
Q4 2025 93$316.8MAAPL, MICROSOFT CORP, BERKSHIRE HATHAWAY INC DEL, ALPHABET INC, WALMART INC
Q3 2025 94$316.8MAAPL, MSFT, BRK.B, GOOGL, NVDA
Q2 2025 94$294.0MMSFT, AAPL, BRK.B, WMT, NVDA
Q1 2025 92$271.5MAAPL, MSFT, BRK.B, WMT, WM
Q4 2024 91$275.1MAAPL, MSFT, BRK.B, WMT, GOOGL
Q3 2024 94$282.2MAAPL, MSFT, BRK.B, WMT, WM
Q2 2024 92$268.2MAAPL, MSFT, BRK.B, GOOGL, WM
Q1 2024 93$260.9MMSFT, AAPL, BRK.B, WM, GOOGL