Icon Advisers Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Icon Advisers Inc. reported 173 stock positions worth $436.6 million. Its top holding was LPL Financial (LPLA) at 2.4% of the portfolio, followed by Armstrong World Industries (AWI, 1.9%) and Trinity Industries (TRN, 1.7%). Compared with Q3 2024, it opened 48 new positions, sold out of 30, added to 29 and reduced 48. The biggest buy was a new position in Kornit Digital (KRNT) and the biggest sale an exit from BlackRock Municipal Income (XMUIX).
- Most Recent 13F
- Q2 2026
- Location
- GREENWOOD VILLAGE, CO
- CIK
- 0001058470
- Portfolio Value
- $436.6M (Q4 2024)
- SEC Filing
- 0001058470-25-000001 ↗ filed Feb 13, 2025
Holdings Value
Holdings 173 stocks · $436.6M
| LPLA LPL Financial Holdings Inc. | 2.35% | 31,483 | $10.3M | Reduce -3.4% |
| AWI Armstrong World Industries | 1.94% | 59,875 | $8.5M | Reduce -23.3% |
| TRN Trinity Industries Inc. | 1.72% | 214,228 | $7.5M | Reduce -8.2% |
| CC The Chemours Co. | 1.69% | 436,365 | $7.4M | Add +10.7% |
| NFG National Fuel Gas Co. | 1.69% | 121,431 | $7.4M | Add +0.2% |
| ZTO Zto Express Cayman Inc.-ADR | 1.54% | 345,000 | $6.7M | Add +53.3% |
| GTLS Chart Industries Inc. | 1.54% | 35,248 | $6.7M | Reduce -10.2% |
| BKR Baker Hughes Co. | 1.45% | 154,773 | $6.3M | Reduce -1.8% |
| MA Mastercard Inc. Class A | 1.44% | 11,965 | $6.3M | Reduce -10.1% |
| KRNT Kornit Digital Ltd. | 1.42% | 200,000 | $6.2M | New |
| ALK Alaska Air Group Inc. | 1.41% | 95,000 | $6.2M | New |
| HMN Horace Mann Educators | 1.38% | 153,800 | $6.0M | No change |
| JPM JPMorgan Chase & Co. | 1.33% | 24,237 | $5.8M | Reduce -4.5% |
| NLY Annaly Capital Management Inc. | 1.33% | 317,277 | $5.8M | New |
| KALU Kaiser Aluminum Corp. | 1.25% | 77,915 | $5.5M | Add +92.2% |
| CMP Compass Minerals Internation | 1.22% | 475,000 | $5.3M | Add +375.0% |
| EME Emcor Group Inc. | 1.22% | 11,700 | $5.3M | New |
| LNC Lincoln National Corp. | 1.21% | 167,225 | $5.3M | No change |
| DDD 3D Systems Corp. filed as 3-D SYS CORP DEL | 1.20% | 1,600,000 | $5.2M | New |
| FTNT Fortinet Inc. | 1.19% | 55,000 | $5.2M | No change |
| META Meta Platforms Inc. Class A | 1.15% | 8,600 | $5.0M | Reduce -6.5% |
| EMN Eastman Chemical Co. | 1.14% | 54,675 | $5.0M | Add +37.5% |
| NJR New Jersey Resources Corp. | 1.12% | 105,000 | $4.9M | Reduce -10.0% |
| TMUS T-Mobile US Inc. | 1.10% | 21,800 | $4.8M | No change |
| TSM Taiwan Semiconductor-SP ADR | 1.09% | 24,000 | $4.7M | No change |
| TTEK Tetra Tech Inc. | 1.05% | 115,000 | $4.6M | Add +71.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.02% | 101,590 | $4.5M | No change |
| RDUS Radius Recycling Inc. Class A | 0.99% | 285,000 | $4.3M | Add +115.9% |
| CRM Salesforce Inc. | 0.99% | 12,900 | $4.3M | No change |
| MMM 3M Co. | 0.98% | 33,000 | $4.3M | Add +17.9% |
| GOOG Alphabet Inc. Class C | 0.97% | 22,300 | $4.2M | No change |
| GPN Global Payments Inc. | 0.97% | 37,742 | $4.2M | Reduce -8.8% |
| EPD Enterprise Products Partners | 0.95% | 132,000 | $4.1M | Reduce -21.0% |
| FWRD Forward Air Corp. | 0.95% | 128,000 | $4.1M | New |
| RAMP Liveramp Holdings Inc. | 0.94% | 135,000 | $4.1M | Add +17.4% |
| ADSK Autodesk Inc. | 0.91% | 13,500 | $4.0M | Reduce -6.9% |
| SNX TD Synnex Corp. | 0.91% | 34,000 | $4.0M | Reduce -8.1% |
| CSCO Cisco Systems Inc. | 0.89% | 65,390 | $3.9M | Add +21.3% |
| EBAY eBay Inc. | 0.88% | 61,711 | $3.8M | Reduce -8.9% |
| NKE Nike Inc. Class B | 0.87% | 50,320 | $3.8M | Reduce -6.0% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.87% | 89,000 | $3.8M | Reduce -55.5% |
| NOW ServiceNow Inc. | 0.86% | 3,524 | $3.7M | New |
| PANW Palo Alto Networks Inc. | 0.85% | 20,419 | $3.7M | New |
| ADBE Adobe Inc. | 0.84% | 8,285 | $3.7M | No change |
| CX Cemex Sab-Spons ADR Part Cer | 0.84% | 650,000 | $3.7M | Reduce -25.3% |
| OGS One Gas Inc. | 0.82% | 51,700 | $3.6M | Reduce -8.8% |
| MOH Molina Healthcare Inc. | 0.82% | 12,300 | $3.6M | No change |
| GSBD Goldman Sachs BDC Inc. | 0.81% | 291,903 | $3.5M | Add +50.7% |
| VOD Vodafone Group PLC-SP ADR | 0.80% | 413,700 | $3.5M | Add +13.6% |
| AGNC AGNC Investment Corp. | 0.80% | 377,127 | $3.5M | New |
| LAZ Lazard Inc. | 0.77% | 65,600 | $3.4M | Add +71.7% |
| ALG Alamo Group Inc. | 0.77% | 18,060 | $3.4M | Reduce -40.0% |
| OLED Universal Display Corp. | 0.76% | 22,784 | $3.3M | Add +37.3% |
| GLOB Globant SA | 0.76% | 15,485 | $3.3M | Add +30.1% |
| EHC Encompass Health Corp. | 0.76% | 35,840 | $3.3M | Add +23.2% |
| DTE DTE Energy Company | 0.72% | 26,099 | $3.2M | Reduce -4.0% |
| EVRG Evergy Inc. | 0.69% | 48,800 | $3.0M | Add +7.7% |
| SR Spire Inc. | 0.68% | 44,000 | $3.0M | Add +175.0% |
| XEVMX Eaton Vance Cal Muni Bond | 0.68% | 324,891 | $3.0M | New |
| CRS Carpenter Technology | 0.68% | 17,500 | $3.0M | Reduce -41.7% |
| EEFT Euronet Worldwide Inc. | 0.67% | 28,511 | $2.9M | No change |
| SWX Southwest Gas Holdings Inc. | 0.66% | 41,000 | $2.9M | New |
| XCMUX MFS High Yield Municipal TR | 0.66% | 821,456 | $2.9M | No change |
| WMS Advanced Drainage Systems Inc. | 0.65% | 24,652 | $2.8M | Reduce -11.9% |
| OPLN Openlane Inc. | 0.64% | 140,000 | $2.8M | New |
| SWK Stanley Black & Decker Inc. | 0.63% | 34,465 | $2.8M | Add +0.8% |
| D Dominion Energy Inc. | 0.63% | 50,875 | $2.7M | Reduce -45.8% |
| HFRO Highland Opport & Income | 0.62% | 524,518 | $2.7M | New |
| PEGA Pegasystems Inc. | 0.60% | 28,000 | $2.6M | Reduce -20.0% |
| BBDC Barings BDC Inc. | 0.59% | 269,302 | $2.6M | New |
| DNOW Dnow Inc. | 0.58% | 195,000 | $2.5M | New |
| ELV Elevance Health Inc. | 0.57% | 6,773 | $2.5M | Reduce -13.2% |
| MAS Masco Corp. | 0.57% | 34,000 | $2.5M | Reduce -34.6% |
| HUN Huntsman Corp. | 0.56% | 136,000 | $2.5M | Add +86.3% |
| EXPE Expedia Group Inc. | 0.55% | 12,900 | $2.4M | No change |
| HCA HCA Healthcare Inc. | 0.55% | 8,000 | $2.4M | No change |
| TTI Tetra Technologies Inc. | 0.54% | 664,000 | $2.4M | New |
| NEW AMERICA HIGH INCOME FUND | 0.54% | 290,157 | $2.4M | Add +205.7% |
| TEX Terex Corp. | 0.52% | 49,000 | $2.3M | No change |
| KEY Keycorp | 0.51% | 131,000 | $2.2M | No change |
| UNP Union Pacific Corp. | 0.51% | 9,730 | $2.2M | Reduce -54.2% |
| MGA Magna International Inc. | 0.50% | 52,557 | $2.2M | Reduce -15.4% |
| LMT Lockheed Martin Corp. | 0.49% | 4,400 | $2.1M | No change |
| ING ING Groep N.V.-Sponsored ADR | 0.49% | 135,200 | $2.1M | Reduce -6.2% |
| XRSFX Rivernorth Capital & Income | 0.48% | 136,652 | $2.1M | Reduce -16.9% |
| V Visa Inc. Class A | 0.48% | 6,650 | $2.1M | No change |
| AMGN Amgen Inc. | 0.48% | 8,000 | $2.1M | No change |
| CDW CDW Corp. | 0.47% | 11,800 | $2.1M | No change |
| LPX Louisiana-Pacific Corp. | 0.47% | 19,700 | $2.0M | New |
| CXH MFS Investment Grade Muni | 0.45% | 244,295 | $2.0M | Add +3.3% |
| WU Western Union Co. | 0.44% | 182,500 | $1.9M | Add +20.9% |
| PRGO Perrigo Co. PLC | 0.44% | 75,000 | $1.9M | Reduce -13.8% |
| NXST Nexstar Media Group Inc. | 0.43% | 11,800 | $1.9M | No change |
| SUN Sunoco LP | 0.42% | 36,000 | $1.9M | New |
| EQH Equitable Holdings Inc. | 0.42% | 39,200 | $1.8M | No change |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | 0.42% | 43,650 | $1.8M | Add +747.6% |
| PFGC Performance Food Group Co. | 0.41% | 21,375 | $1.8M | No change |
| POR Portland General Electric Co. | 0.41% | 41,200 | $1.8M | New |
| MRK Merck & Co. Inc. | 0.41% | 18,000 | $1.8M | Add +11.8% |
| VMI Valmont Industries | 0.40% | 5,750 | $1.8M | New |
Other holdings (2): bonds, preferreds, convertibles and warrants · $7.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 3,189 | $3.8M | New |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 2,930 | $3.6M | Add +67.3% |
Total filed on the 13F, all lines: $444.0M.
Portfolio Sells Q3 2024 → Q4 2024
| XMUIX BlackRock Municipal Income | Sold out | 0.00% | −2.93 |
| PCF High Income Securities Fund | Reduce -90.1% | 0.13% | −1.21 |
| AIR Aar Corp. | Sold out | 0.00% | −1.07 |
| BLBD Blue Bird Corp. | Sold out | 0.00% | −0.98 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.92 |
| WWD Woodward Inc. | Sold out | 0.00% | −0.85 |
| EQT Eqt Corp. | Sold out | 0.00% | −0.80 |
| SEM Select Medical Holdings Corp. | Sold out | 0.00% | −0.80 |
| CI The Cigna Group | Sold out | 0.00% | −0.77 |
| OSK Oshkosh Corp. | Sold out | 0.00% | −0.67 |
| UNH Unitedhealth Group Inc. | Reduce -60.5% | 0.37% | −0.67 |
| CHX Championx Corp. | Sold out | 0.00% | −0.66 |
| UNP Union Pacific Corp. | Reduce -54.2% | 0.51% | −0.64 |
| ODFL Old Dominion Freight Line | Sold out | 0.00% | −0.62 |
| HUM Humana Inc. | Sold out | 0.00% | −0.60 |
| GVA Granite Construction Inc. | Reduce -68.6% | 0.32% | −0.56 |
| D Dominion Energy Inc. | Reduce -45.8% | 0.63% | −0.56 |
| NOV Nov Inc. | Sold out | 0.00% | −0.56 |
| GBX Greenbrier Companies Inc. | Sold out | 0.00% | −0.56 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −0.53 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.51 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −0.51 |
| GDO Western Ast GLB Corp. Opprnty | Sold out | 0.00% | −0.50 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.49 |
| ALG Alamo Group Inc. | Reduce -40.0% | 0.77% | −0.42 |
| LEG Leggett & Platt Inc. | Sold out | 0.00% | −0.40 |
| MAS Masco Corp. | Reduce -34.6% | 0.57% | −0.39 |
| CP Canadian Pacific Kansas City | Sold out | 0.00% | −0.38 |
| CRS Carpenter Technology | Reduce -41.7% | 0.68% | −0.37 |
| HAYN Haynes International Inc. | Sold out | 0.00% | −0.37 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -25.3% | 0.84% | −0.32 |
| ELV Elevance Health Inc. | Reduce -13.2% | 0.57% | −0.32 |
| WMS Advanced Drainage Systems Inc. | Reduce -11.9% | 0.65% | −0.31 |
| AWI Armstrong World Industries | Reduce -23.3% | 1.94% | −0.31 |
| IGI Western Asst Inv GR Oppor TR | Sold out | 0.00% | −0.30 |
| CSX CSX Corp. | Reduce -47.5% | 0.27% | −0.26 |
| AGR Avangrid Inc. | Sold out | 0.00% | −0.25 |
| INGR Ingredion Inc. | Reduce -44.5% | 0.33% | −0.24 |
| EQC Equity Commonwealth | Sold out | 0.00% | −0.24 |
| NGVT Ingevity Corp. | Reduce -55.3% | 0.20% | −0.21 |
| VC Visteon Corp. | Sold out | 0.00% | −0.20 |
| MRSH Marsh & McLennan Cos | Sold out | 0.00% | −0.20 |
| IQV Iqvia Holdings Inc. | Sold out | 0.00% | −0.18 |
| NKE Nike Inc. Class B | Reduce -6.0% | 0.87% | −0.16 |
| SJNK SS SPDR BB St Hi Yield ETF | Sold out | 0.00% | −0.15 |
| TSN Tyson Foods Inc. Class A | Reduce -37.6% | 0.23% | −0.13 |
| BKLN Invesco Senior Loan ETF | Sold out | 0.00% | −0.13 |
| AIZ Assurant Inc. | Reduce -39.6% | 0.27% | −0.13 |
| EPD Enterprise Products Partners | Reduce -21.0% | 0.95% | −0.12 |
| NI Nisource Inc. | Reduce -36.4% | 0.25% | −0.11 |
Portfolio Buys Q3 2024 → Q4 2024
| KRNT Kornit Digital Ltd. | New | 1.42% | +1.42 |
| ALK Alaska Air Group Inc. | New | 1.41% | +1.41 |
| NLY Annaly Capital Management Inc. | New | 1.33% | +1.33 |
| EME Emcor Group Inc. | New | 1.22% | +1.22 |
| DDD 3D Systems Corp. | New | 1.20% | +1.20 |
| CMP Compass Minerals Internation | Add +375.0% | 1.22% | +0.96 |
| FWRD Forward Air Corp. | New | 0.95% | +0.95 |
| NOW ServiceNow Inc. | New | 0.86% | +0.86 |
| PANW Palo Alto Networks Inc. | New | 0.85% | +0.85 |
| AGNC AGNC Investment Corp. | New | 0.80% | +0.80 |
| XEVMX Eaton Vance Cal Muni Bond | New | 0.68% | +0.68 |
| SWX Southwest Gas Holdings Inc. | New | 0.66% | +0.66 |
| OPLN Openlane Inc. | New | 0.64% | +0.64 |
| HFRO Highland Opport & Income | New | 0.62% | +0.62 |
| KALU Kaiser Aluminum Corp. | Add +92.2% | 1.25% | +0.61 |
| BBDC Barings BDC Inc. | New | 0.59% | +0.59 |
| DNOW Dnow Inc. | New | 0.58% | +0.58 |
| TTI Tetra Technologies Inc. | New | 0.54% | +0.54 |
| LPX Louisiana-Pacific Corp. | New | 0.47% | +0.47 |
| RDUS Radius Recycling Inc. Class A | Add +115.9% | 0.99% | +0.46 |
| SR Spire Inc. | Add +175.0% | 0.68% | +0.45 |
| SUN Sunoco LP | New | 0.42% | +0.42 |
| POR Portland General Electric Co. | New | 0.41% | +0.41 |
| VMI Valmont Industries | New | 0.40% | +0.40 |
| OMF Onemain Holdings Inc. | New | 0.39% | +0.39 |
| NEW AMERICA HIGH INCOME FUND | Add +205.7% | 0.54% | +0.37 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | Add +747.6% | 0.42% | +0.37 |
| GWW WW Grainger Inc. | New | 0.36% | +0.36 |
| TTEK Tetra Tech Inc. | Add +71.6% | 1.05% | +0.36 |
| LAZ Lazard Inc. | Add +71.7% | 0.77% | +0.35 |
| ZTO Zto Express Cayman Inc.-ADR | Add +53.3% | 1.54% | +0.32 |
| RAMP Liveramp Holdings Inc. | Add +17.4% | 0.94% | +0.31 |
| HSII Heidrick & Struggles Intl | New | 0.28% | +0.28 |
| AIT Applied Industrial Tech Inc. | New | 0.27% | +0.27 |
| CSCO Cisco Systems Inc. | Add +21.3% | 0.89% | +0.26 |
| GLOB Globant SA | Add +30.1% | 0.76% | +0.24 |
| GSBD Goldman Sachs BDC Inc. | Add +50.7% | 0.81% | +0.22 |
| BMRN Biomarin Pharmaceutical Inc. | New | 0.20% | +0.20 |
| XPMAX Pioneer Municipal High Inc. | New | 0.18% | +0.18 |
| HUN Huntsman Corp. | Add +86.3% | 0.56% | +0.17 |
| EMN Eastman Chemical Co. | Add +37.5% | 1.14% | +0.17 |
| SNV Synovus Financial Corp. | Add +34.8% | 0.38% | +0.15 |
| EHC Encompass Health Corp. | Add +23.2% | 0.76% | +0.14 |
| MMM 3M Co. | Add +17.9% | 0.98% | +0.14 |
| SABR Sabre Corp. | Add +51.2% | 0.33% | +0.12 |
| NFG National Fuel Gas Co. | Add +0.2% | 1.69% | +0.08 |
| EVRG Evergy Inc. | Add +7.7% | 0.69% | +0.07 |
| GDOT Green Dot Corp. Class A | Add +46.9% | 0.23% | +0.06 |
| WU Western Union Co. | Add +20.9% | 0.44% | +0.05 |
| VPV Invesco Pa Val Muni Inc. | New | 0.05% | +0.05 |
Notes & Other Activity Q3 2024 → Q4 2024
| EQUITY COMMONWEALTH (EQC 6.5 PERP D) | 6.5% CNV PFD D | Sold out | 748,020 | $18.9Mbefore exit |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | New | 3,189 | $3.8M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +67.3% | 2,930 | $3.6M |
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 |