Icon Advisers Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Icon Advisers Inc. reported 155 stock positions worth $456.3 million. Its top holding was BlackRock Municipal Income (XMUIX) at 2.9% of the portfolio, followed by Armstrong World Industries (AWI, 2.2%) and Trinity Industries (TRN, 1.8%). Compared with Q2 2024, it opened 14 new positions, sold out of 38, added to 35 and reduced 41. The biggest buy was BlackRock Municipal Income (XMUIX, shares +131%) and the biggest sale an exit from BlackRock ESG Cap All TRM TR (ECAT).
- Most Recent 13F
- Q2 2026
- Location
- GREENWOOD VILLAGE, CO
- CIK
- 0001058470
- Portfolio Value
- $456.3M (Q3 2024)
- SEC Filing
- 0001803088-24-000007 ↗ filed Nov 13, 2024
Holdings Value
Holdings 155 stocks · $456.3M
| XMUIX BlackRock Municipal Income | 2.93% | 1,064,483 | $13.4M | Add +131.3% |
| AWI Armstrong World Industries | 2.25% | 78,025 | $10.3M | Add +4.2% |
| TRN Trinity Industries Inc. | 1.78% | 233,428 | $8.1M | Reduce -2.1% |
| CC The Chemours Co. | 1.75% | 394,065 | $8.0M | Add +261.5% |
| LPLA LPL Financial Holdings Inc. | 1.66% | 32,583 | $7.6M | Reduce -28.0% |
| NFG National Fuel Gas Co. | 1.61% | 121,190 | $7.3M | Add +375.3% |
| MA Mastercard Inc. Class A | 1.44% | 13,315 | $6.6M | Reduce -33.1% |
| PCF High Income Securities Fund | 1.35% | 899,044 | $6.1M | Add +790.2% |
| BKR Baker Hughes Co. | 1.25% | 157,673 | $5.7M | No change |
| ZTO Zto Express Cayman Inc.-ADR | 1.22% | 225,000 | $5.6M | Add +32.4% |
| NJR New Jersey Resources Corp. | 1.21% | 116,634 | $5.5M | Add +57.8% |
| D Dominion Energy Inc. | 1.19% | 93,875 | $5.4M | Add +95.2% |
| ALG Alamo Group Inc. | 1.19% | 30,095 | $5.4M | Reduce -34.7% |
| HMN Horace Mann Educators | 1.18% | 153,800 | $5.4M | Add +49.2% |
| JPM JPMorgan Chase & Co. | 1.17% | 25,387 | $5.4M | No change |
| CX Cemex Sab-Spons ADR Part Cer | 1.16% | 870,000 | $5.3M | Add +59.6% |
| LNC Lincoln National Corp. | 1.15% | 167,225 | $5.3M | Add +54.4% |
| META Meta Platforms Inc. Class A | 1.15% | 9,200 | $5.3M | No change |
| UNP Union Pacific Corp. | 1.15% | 21,230 | $5.2M | No change |
| AIR Aar Corp. | 1.07% | 75,000 | $4.9M | Reduce -6.3% |
| GTLS Chart Industries Inc. | 1.07% | 39,248 | $4.9M | Add +27.4% |
| EPD Enterprise Products Partners | 1.07% | 167,000 | $4.9M | No change |
| CRS Carpenter Technology | 1.05% | 30,000 | $4.8M | Reduce -14.3% |
| UNH Unitedhealth Group Inc. | 1.04% | 8,119 | $4.7M | Reduce -12.9% |
| NKE Nike Inc. Class B | 1.04% | 53,520 | $4.7M | Reduce -13.4% |
| TMUS T-Mobile US Inc. | 0.99% | 21,800 | $4.5M | Add +8.5% |
| BLBD Blue Bird Corp. | 0.98% | 93,000 | $4.5M | Reduce -22.5% |
| EBAY eBay Inc. | 0.98% | 67,711 | $4.5M | Reduce -4.0% |
| EMN Eastman Chemical Co. | 0.98% | 39,775 | $4.5M | Add +47.3% |
| SNX TD Synnex Corp. | 0.97% | 37,000 | $4.4M | Reduce -21.9% |
| WMS Advanced Drainage Systems Inc. | 0.96% | 27,997 | $4.4M | Reduce -2.0% |
| MAS Masco Corp. | 0.96% | 52,000 | $4.4M | Add +4.0% |
| ADBE Adobe Inc. | 0.94% | 8,285 | $4.3M | No change |
| FTNT Fortinet Inc. | 0.93% | 55,000 | $4.3M | No change |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.93% | 200,000 | $4.2M | Add +17.6% |
| MOH Molina Healthcare Inc. | 0.93% | 12,300 | $4.2M | Reduce -6.8% |
| GPN Global Payments Inc. | 0.93% | 41,367 | $4.2M | Reduce -0.0% |
| OGS One Gas Inc. | 0.92% | 56,700 | $4.2M | Add +6.7% |
| ANET Arista Networks Inc. | 0.92% | 10,900 | $4.2M | Reduce -37.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.91% | 24,000 | $4.2M | Reduce -30.4% |
| ELV Elevance Health Inc. | 0.89% | 7,800 | $4.1M | Reduce -19.6% |
| GVA Granite Construction Inc. | 0.89% | 51,000 | $4.0M | Reduce -21.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.88% | 101,590 | $4.0M | No change |
| ADSK Autodesk Inc. | 0.88% | 14,500 | $4.0M | No change |
| WWD Woodward Inc. | 0.85% | 23,000 | $3.9M | No change |
| MMM 3M Co. | 0.84% | 28,000 | $3.8M | New |
| SWK Stanley Black & Decker Inc. | 0.82% | 34,175 | $3.8M | Add +2528.8% |
| GOOG Alphabet Inc. Class C | 0.82% | 22,300 | $3.7M | No change |
| EQT Eqt Corp. | 0.80% | 100,000 | $3.7M | New |
| SEM Select Medical Holdings Corp. | 0.80% | 105,000 | $3.7M | Add +33.3% |
| VOD Vodafone Group PLC-SP ADR | 0.80% | 364,300 | $3.7M | Add +7.8% |
| CI The Cigna Group | 0.77% | 10,100 | $3.5M | No change |
| CRM Salesforce Inc. | 0.77% | 12,900 | $3.5M | No change |
| DTE DTE Energy Company | 0.77% | 27,200 | $3.5M | Add +10.6% |
| OLED Universal Display Corp. | 0.76% | 16,600 | $3.5M | No change |
| HCA HCA Healthcare Inc. | 0.71% | 8,000 | $3.3M | No change |
| TTEK Tetra Tech Inc. | 0.69% | 67,000 | $3.2M | Add +235.0% |
| OSK Oshkosh Corp. | 0.67% | 30,500 | $3.1M | No change |
| CHX Championx Corp. | 0.66% | 100,000 | $3.0M | No change |
| XCMUX MFS High Yield Municipal TR | 0.66% | 821,456 | $3.0M | Reduce -1.3% |
| KALU Kaiser Aluminum Corp. | 0.64% | 40,540 | $2.9M | Add +1839.7% |
| CSCO Cisco Systems Inc. | 0.63% | 53,900 | $2.9M | No change |
| RAMP Liveramp Holdings Inc. | 0.62% | 115,000 | $2.8M | Add +0.6% |
| EEFT Euronet Worldwide Inc. | 0.62% | 28,511 | $2.8M | No change |
| ODFL Old Dominion Freight Line | 0.62% | 14,200 | $2.8M | No change |
| EHC Encompass Health Corp. | 0.62% | 29,100 | $2.8M | No change |
| EVRG Evergy Inc. | 0.62% | 45,300 | $2.8M | No change |
| HUM Humana Inc. | 0.60% | 8,700 | $2.8M | No change |
| CDW CDW Corp. | 0.59% | 11,800 | $2.7M | No change |
| GSBD Goldman Sachs BDC Inc. | 0.58% | 193,725 | $2.7M | Add +217.9% |
| INGR Ingredion Inc. | 0.58% | 19,100 | $2.6M | No change |
| ING ING Groep N.V.-Sponsored ADR | 0.57% | 144,100 | $2.6M | No change |
| TEX Terex Corp. | 0.57% | 49,000 | $2.6M | Reduce -6.8% |
| AMGN Amgen Inc. | 0.56% | 8,000 | $2.6M | No change |
| LMT Lockheed Martin Corp. | 0.56% | 4,400 | $2.6M | No change |
| PEGA Pegasystems Inc. | 0.56% | 35,000 | $2.6M | No change |
| NOV Nov Inc. | 0.56% | 160,000 | $2.6M | No change |
| MGA Magna International Inc. | 0.56% | 62,157 | $2.6M | No change |
| GBX Greenbrier Companies Inc. | 0.56% | 50,000 | $2.5M | No change |
| XRSFX Rivernorth Capital & Income | 0.56% | 164,548 | $2.5M | Reduce -4.1% |
| RDUS Radius Recycling Inc. Class A | 0.54% | 132,000 | $2.4M | New |
| CSX CSX Corp. | 0.53% | 69,500 | $2.4M | No change |
| SU Suncor Energy Inc. | 0.53% | 65,000 | $2.4M | No change |
| GLOB Globant SA | 0.52% | 11,900 | $2.4M | No change |
| CNI Canadian Natl Railway Co. | 0.51% | 20,000 | $2.3M | No change |
| AZN Astrazeneca PLC-Spons ADR | 0.51% | 30,000 | $2.3M | No change |
| PRGO Perrigo Co. PLC | 0.50% | 87,000 | $2.3M | New |
| GDO Western Ast GLB Corp. Opprnty | 0.50% | 175,856 | $2.3M | New |
| HEES H&E Equipment Services Inc. | 0.49% | 46,000 | $2.2M | No change |
| KEY Keycorp | 0.48% | 131,000 | $2.2M | No change |
| NXST Nexstar Media Group Inc. | 0.43% | 11,800 | $2.0M | No change |
| CXH MFS Investment Grade Muni | 0.43% | 236,518 | $1.9M | Reduce -1.4% |
| CSL Carlisle Cos Inc. | 0.42% | 4,300 | $1.9M | New |
| LAZ Lazard Inc. | 0.42% | 38,200 | $1.9M | Add +544.7% |
| EXPE Expedia Group Inc. | 0.42% | 12,900 | $1.9M | No change |
| ACGL Arch Capital Group Ltd. | 0.40% | 16,400 | $1.8M | Reduce -20.0% |
| LEG Leggett & Platt Inc. | 0.40% | 134,600 | $1.8M | Add +216.0% |
| NGVT Ingevity Corp. | 0.40% | 47,000 | $1.8M | No change |
| V Visa Inc. Class A | 0.40% | 6,650 | $1.8M | Reduce -15.3% |
| MRK Merck & Co. Inc. | 0.40% | 16,100 | $1.8M | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $21.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EQUITY COMMONWEALTH (EQC 6.5 PERP D) | 6.5% CNV PFD D | 748,020 | $18.9M | Add +93.6% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 1,751 | $2.2M | Add +105.8% |
Total filed on the 13F, all lines: $477.4M.
Portfolio Sells Q2 2024 → Q3 2024
| ECAT BlackRock ESG Cap All TRM TR | Sold out | 0.00% | −1.60 |
| LPLA LPL Financial Holdings Inc. | Reduce -28.0% | 1.66% | −1.29 |
| GLNG Golar LNG Ltd. | Sold out | 0.00% | −1.13 |
| ETRN Equitrans Midstream Corp. | Sold out | 0.00% | −1.04 |
| PTEN Patterson-Uti Energy Inc. | Sold out | 0.00% | −0.93 |
| AROC Archrock Inc. | Sold out | 0.00% | −0.70 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -82.2% | 0.15% | −0.69 |
| LUV Southwest Airlines Co. | Reduce -82.1% | 0.15% | −0.67 |
| HOS Hornbeck Offshore Services I | Sold out | 0.00% | −0.66 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.63 |
| VGR Vector Group Ltd. | Sold out | 0.00% | −0.61 |
| ALG Alamo Group Inc. | Reduce -34.7% | 1.19% | −0.60 |
| MA Mastercard Inc. Class A | Reduce -33.1% | 1.44% | −0.57 |
| NLY Annaly Capital Management Inc. | Sold out | 0.00% | −0.56 |
| ANET Arista Networks Inc. | Reduce -37.7% | 0.92% | −0.53 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -30.4% | 0.91% | −0.46 |
| NEW AMERICA HIGH INCOME FUND | Reduce -74.5% | 0.17% | −0.46 |
| BLBD Blue Bird Corp. | Reduce -22.5% | 0.98% | −0.43 |
| EQC Equity Commonwealth | Reduce -63.8% | 0.24% | −0.43 |
| SKX Skechers USA Inc. Class A | Reduce -52.5% | 0.33% | −0.41 |
| XJPIX Nuveen Preferred Securities | Sold out | 0.00% | −0.39 |
| MRSH Marsh & McLennan Cos | Reduce -65.2% | 0.20% | −0.36 |
| LW Lamb Weston Holdings Inc. | Sold out | 0.00% | −0.33 |
| ARMK Aramark | Sold out | 0.00% | −0.32 |
| ZTR Virtus Total Return Fund Inc. | Sold out | 0.00% | −0.31 |
| TTI Tetra Technologies Inc. | Sold out | 0.00% | −0.31 |
| ELV Elevance Health Inc. | Reduce -19.6% | 0.89% | −0.31 |
| SNX TD Synnex Corp. | Reduce -21.9% | 0.97% | −0.27 |
| DECK Deckers Outdoor Corp. | Reduce -53.6% | 0.22% | −0.27 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.23 |
| AIR Aar Corp. | Reduce -6.3% | 1.07% | −0.23 |
| PFGC Performance Food Group Co. | Reduce -45.9% | 0.37% | −0.23 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −0.18 |
| AGNC AGNC Investment Corp. | Sold out | 0.00% | −0.16 |
| GSK GSK PLC-Spon ADR | Reduce -32.5% | 0.32% | −0.15 |
| DAN Dana Inc. | Reduce -22.7% | 0.20% | −0.10 |
| TEX Terex Corp. | Reduce -6.8% | 0.57% | −0.10 |
| IQV Iqvia Holdings Inc. | Reduce -39.0% | 0.18% | −0.09 |
| BKLN Invesco Senior Loan ETF | Reduce -34.8% | 0.13% | −0.08 |
| V Visa Inc. Class A | Reduce -15.3% | 0.40% | −0.08 |
| ACGL Arch Capital Group Ltd. | Reduce -20.0% | 0.40% | −0.07 |
| EXTR Extreme Networks Inc. | Reduce -23.6% | 0.35% | −0.07 |
| WMS Advanced Drainage Systems Inc. | Reduce -2.0% | 0.96% | −0.07 |
| NKE Nike Inc. Class B | Reduce -13.4% | 1.04% | −0.06 |
| XRSFX Rivernorth Capital & Income | Reduce -4.1% | 0.56% | −0.05 |
| GUSH Direxion Daily S&P Oil & Gas | Sold out | 0.00% | −0.05 |
| ALE Allete Inc. | Reduce -13.0% | 0.25% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -12.9% | 1.04% | −0.02 |
| GVA Granite Construction Inc. | Reduce -21.5% | 0.89% | −0.02 |
| CXH MFS Investment Grade Muni | Reduce -1.4% | 0.43% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| XMUIX BlackRock Municipal Income | Add +131.3% | 2.93% | +1.63 |
| NFG National Fuel Gas Co. | Add +375.3% | 1.61% | +1.29 |
| CC The Chemours Co. | Add +261.5% | 1.75% | +1.19 |
| PCF High Income Securities Fund | Add +790.2% | 1.35% | +1.19 |
| MMM 3M Co. | New | 0.84% | +0.84 |
| EQT Eqt Corp. | New | 0.80% | +0.80 |
| SWK Stanley Black & Decker Inc. | Add +2528.8% | 0.82% | +0.80 |
| D Dominion Energy Inc. | Add +95.2% | 1.19% | +0.66 |
| KALU Kaiser Aluminum Corp. | Add +1839.7% | 0.64% | +0.60 |
| RDUS Radius Recycling Inc. Class A | New | 0.54% | +0.54 |
| TTEK Tetra Tech Inc. | Add +235.0% | 0.69% | +0.51 |
| PRGO Perrigo Co. PLC | New | 0.50% | +0.50 |
| GDO Western Ast GLB Corp. Opprnty | New | 0.50% | +0.50 |
| NJR New Jersey Resources Corp. | Add +57.8% | 1.21% | +0.48 |
| CSL Carlisle Cos Inc. | New | 0.42% | +0.42 |
| ZTO Zto Express Cayman Inc.-ADR | Add +32.4% | 1.22% | +0.41 |
| HMN Horace Mann Educators | Add +49.2% | 1.18% | +0.41 |
| EMN Eastman Chemical Co. | Add +47.3% | 0.98% | +0.38 |
| CX Cemex Sab-Spons ADR Part Cer | Add +59.6% | 1.16% | +0.37 |
| LNC Lincoln National Corp. | Add +54.4% | 1.15% | +0.37 |
| GSBD Goldman Sachs BDC Inc. | Add +217.9% | 0.58% | +0.37 |
| LAZ Lazard Inc. | Add +544.7% | 0.42% | +0.37 |
| HUN Huntsman Corp. | Add +1251.8% | 0.39% | +0.36 |
| TSN Tyson Foods Inc. Class A | New | 0.36% | +0.36 |
| AWI Armstrong World Industries | Add +4.2% | 2.25% | +0.32 |
| IGI Western Asst Inv GR Oppor TR | New | 0.30% | +0.30 |
| LEG Leggett & Platt Inc. | Add +216.0% | 0.40% | +0.29 |
| BUD Anheuser-Busch Inbev-SPN ADR | New | 0.27% | +0.27 |
| CMP Compass Minerals Internation | New | 0.26% | +0.26 |
| SNV Synovus Financial Corp. | New | 0.23% | +0.23 |
| MAS Masco Corp. | Add +4.0% | 0.96% | +0.21 |
| SABR Sabre Corp. | New | 0.21% | +0.21 |
| YPF YPF S.A.-Sponsored ADR | Add +17.6% | 0.93% | +0.17 |
| CLH Clean Harbors Inc. | Add +75.0% | 0.37% | +0.17 |
| GDOT Green Dot Corp. Class A | New | 0.16% | +0.16 |
| SEM Select Medical Holdings Corp. | Add +33.3% | 0.80% | +0.15 |
| TMUS T-Mobile US Inc. | Add +8.5% | 0.99% | +0.15 |
| OGS One Gas Inc. | Add +6.7% | 0.92% | +0.15 |
| DTE DTE Energy Company | Add +10.6% | 0.77% | +0.15 |
| CP Canadian Pacific Kansas City | Add +46.4% | 0.38% | +0.13 |
| VOD Vodafone Group PLC-SP ADR | Add +7.8% | 0.80% | +0.11 |
| HIG Hartford Insurance Group Inc. | Add +20.2% | 0.40% | +0.10 |
| XEL Xcel Energy Inc. | Add +29.2% | 0.27% | +0.09 |
| WU Western Union Co. | Add +35.7% | 0.39% | +0.08 |
| GTLS Chart Industries Inc. | Add +27.4% | 1.07% | +0.07 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | New | 0.05% | +0.05 |
| CMS CMS Energy Corp. | Add +17.3% | 0.19% | +0.05 |
| FNF Fidelity National Financial | Add +19.8% | 0.06% | +0.02 |
| RAMP Liveramp Holdings Inc. | Add +0.6% | 0.62% | −0.22 |
Notes & Other Activity Q2 2024 → Q3 2024
| EQUITY COMMONWEALTH (EQC 6.5 PERP D) | 6.5% CNV PFD D | Add +93.6% | 748,020 | $18.9M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +105.8% | 1,751 | $2.2M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Sold out | 500 | $591Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 194 | $525.4M | STX, PLOW, AVT, MSM, CC |
| Q1 2026 | 143 | $424.4M | JFR, STX, CENX, PSX, DINO |
| Q4 2025 | 182 | $454.1M | JFR, STX, LPLA, CENX, DINO |
| Q3 2025Amended | 175 | $452.0M | STX, CC, LPLA, NFG, TTI |
| Q2 2025 | 186 | $434.5M | LPLA, KALU, NFG, HYI, JPM |
| Q1 2025 | 156 | $422.7M | LPLA, DNOW, NFG, KALU, ZTO |
| Q4 2024 | 173 | $436.6M | LPLA, AWI, TRN, CC, NFG |
| Q3 2024 | 155 | $456.3M | XMUIX, AWI, TRN, CC, LPLA |
| Q2 2024 | 179 | $432.9M | LPLA, MA, AWI, ALG, TRN |
| Q1 2024 | 156 | $448.1M | LPLA, ALG, MA, AWI, ECAT |