Icon Advisers Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Icon Advisers Inc. reported 186 stock positions worth $434.5 million. Its top holding was LPL Financial (LPLA) at 2.7% of the portfolio, followed by Kaiser Aluminum (KALU, 2.2%) and National Fuel Gas (NFG, 1.9%). Compared with Q1 2025, it opened 46 new positions, sold out of 16, added to 16 and reduced 54. The biggest buy was a new position in Seagate Technology (STX) and the biggest sale Dnow (DNOW, shares −61%).
- Most Recent 13F
- Q2 2026
- Location
- GREENWOOD VILLAGE, CO
- CIK
- 0001058470
- Portfolio Value
- $434.5M (Q2 2025)
- SEC Filing
- 0001058470-25-000007 ↗ filed Aug 13, 2025
Holdings Value
Holdings 186 stocks · $434.5M
| LPLA LPL Financial Holdings Inc. | 2.70% | 31,288 | $11.7M | Reduce -0.6% |
| KALU Kaiser Aluminum Corp. | 2.16% | 117,391 | $9.4M | No change |
| NFG National Fuel Gas Co. | 1.86% | 95,568 | $8.1M | Reduce -8.6% |
| HYI Western Asset High Yield Opp | 1.83% | 664,463 | $8.0M | Add +59.1% |
| JPM JPMorgan Chase & Co. | 1.62% | 24,237 | $7.0M | No change |
| STX Seagate Technology Holdings | 1.58% | 47,494 | $6.9M | New |
| HMN Horace Mann Educators | 1.52% | 153,800 | $6.6M | No change |
| AWI Armstrong World Industries | 1.49% | 39,875 | $6.5M | No change |
| TER Teradyne Inc. | 1.47% | 71,091 | $6.4M | New |
| MA Mastercard Inc. Class A | 1.42% | 10,965 | $6.2M | Reduce -5.6% |
| CENX Century Aluminum Company | 1.35% | 325,200 | $5.9M | New |
| LNC Lincoln National Corp. | 1.33% | 167,225 | $5.8M | No change |
| TTI Tetra Technologies Inc. | 1.31% | 1,700,000 | $5.7M | No change |
| REVG Rev Group Inc. | 1.31% | 120,000 | $5.7M | Reduce -25.0% |
| VOD Vodafone Group PLC-SP ADR | 1.27% | 519,731 | $5.5M | Add +17.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.25% | 24,000 | $5.4M | No change |
| CX Cemex Sab-Spons ADR Part Cer | 1.22% | 764,240 | $5.3M | Reduce -15.1% |
| TMUS T-Mobile US Inc. | 1.20% | 21,800 | $5.2M | No change |
| GTLS Chart Industries Inc. | 1.18% | 31,248 | $5.1M | No change |
| D Dominion Energy Inc. | 1.18% | 90,875 | $5.1M | Add +78.6% |
| CRS Carpenter Technology | 1.18% | 18,500 | $5.1M | Add +23.3% |
| CC The Chemours Co. | 1.15% | 436,365 | $5.0M | No change |
| BKR Baker Hughes Co. | 1.15% | 129,879 | $5.0M | Reduce -9.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.11% | 101,590 | $4.8M | No change |
| XEVMX Eaton Vance Cal Muni Bond | 1.10% | 533,734 | $4.8M | No change |
| ZTO Zto Express Cayman Inc.-ADR | 1.08% | 265,000 | $4.7M | Reduce -20.9% |
| CSCO Cisco Systems Inc. | 1.04% | 65,390 | $4.5M | No change |
| META Meta Platforms Inc. Class A | 1.02% | 6,000 | $4.4M | Reduce -30.2% |
| EHC Encompass Health Corp. | 1.01% | 35,840 | $4.4M | No change |
| ALK Alaska Air Group Inc. | 1.00% | 88,000 | $4.4M | Reduce -20.0% |
| DINO HF Sinclair Corp. | 0.99% | 104,600 | $4.3M | New |
| ANET Arista Networks Inc. | 0.97% | 41,100 | $4.2M | Reduce -5.7% |
| EBAY eBay Inc. | 0.96% | 55,991 | $4.2M | Reduce -9.3% |
| TTEK Tetra Tech Inc. | 0.94% | 114,000 | $4.1M | Add +14.0% |
| SR Spire Inc. | 0.94% | 56,000 | $4.1M | Add +20.4% |
| EMN Eastman Chemical Co. | 0.94% | 54,675 | $4.1M | No change |
| TRS Trimas Corp. | 0.92% | 140,000 | $4.0M | New |
| KRNT Kornit Digital Ltd. | 0.92% | 200,000 | $4.0M | No change |
| ALG Alamo Group Inc. | 0.91% | 18,060 | $3.9M | No change |
| GOOG Alphabet Inc. Class C | 0.84% | 20,500 | $3.6M | Reduce -8.1% |
| NOW ServiceNow Inc. | 0.83% | 3,524 | $3.6M | No change |
| DTE DTE Energy Company | 0.83% | 27,259 | $3.6M | No change |
| OLED Universal Display Corp. | 0.81% | 22,784 | $3.5M | No change |
| BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU | 0.79% | 210,000 | $3.4M | New |
| EVRG Evergy Inc. | 0.77% | 48,800 | $3.4M | No change |
| SON Sonoco Products Co. | 0.76% | 76,000 | $3.3M | Reduce -6.2% |
| JFR Nuveen Floating Rate Income | 0.75% | 385,191 | $3.3M | Reduce -36.6% |
| CRM Salesforce Inc. | 0.74% | 11,862 | $3.2M | Reduce -8.1% |
| DDD 3D Systems Corp. filed as 3-D SYS CORP DEL | 0.74% | 2,100,000 | $3.2M | No change |
| ADBE Adobe Inc. | 0.74% | 8,285 | $3.2M | No change |
| HUN Huntsman Corp. | 0.73% | 306,000 | $3.2M | Add +125.0% |
| LAZ Lazard Inc. | 0.72% | 65,600 | $3.1M | No change |
| KNX Knight-Swift Transportation | 0.72% | 71,000 | $3.1M | No change |
| ADSK Autodesk Inc. | 0.71% | 10,000 | $3.1M | Reduce -25.9% |
| PANW Palo Alto Networks Inc. | 0.71% | 15,000 | $3.1M | Reduce -26.5% |
| HCA HCA Healthcare Inc. | 0.71% | 8,000 | $3.1M | No change |
| GPN Global Payments Inc. | 0.70% | 37,742 | $3.0M | No change |
| TYL Tyler Technologies Inc. | 0.69% | 5,057 | $3.0M | No change |
| SNX TD Synnex Corp. | 0.68% | 21,884 | $3.0M | Reduce -35.6% |
| DNOW Dnow Inc. | 0.68% | 200,000 | $3.0M | Reduce -61.2% |
| OI O-I Glass Inc. | 0.68% | 200,000 | $2.9M | New |
| XPMAX Pioneer Municipal High Inc. | 0.68% | 354,373 | $2.9M | Add +65.3% |
| AGNC AGNC Investment Corp. | 0.65% | 306,974 | $2.8M | Add +25.8% |
| XCMUX MFS High Yield Municipal TR | 0.63% | 821,456 | $2.7M | No change |
| SCL Stepan Co. | 0.63% | 50,000 | $2.7M | No change |
| EEFT Euronet Worldwide Inc. | 0.63% | 26,844 | $2.7M | Reduce -5.8% |
| DAL Delta Air Lines Inc. | 0.60% | 52,600 | $2.6M | Add +95.5% |
| LUV Southwest Airlines Co. | 0.57% | 76,900 | $2.5M | Add +243.3% |
| PEGA Pegasystems Inc. | 0.57% | 45,848 | $2.5M | Add +63.7% |
| HBAN Huntington Bancshares Inc. | 0.57% | 147,970 | $2.5M | Add +147.9% |
| SWX Southwest Gas Holdings Inc. | 0.56% | 33,000 | $2.5M | Reduce -19.5% |
| MOH Molina Healthcare Inc. | 0.55% | 8,056 | $2.4M | No change |
| V Visa Inc. Class A | 0.54% | 6,650 | $2.4M | No change |
| TSEOQ Trinseo PLC | 0.54% | 750,000 | $2.3M | New |
| SWK Stanley Black & Decker Inc. | 0.54% | 34,465 | $2.3M | No change |
| ING ING Groep N.V.-Sponsored ADR | 0.53% | 105,403 | $2.3M | Reduce -8.7% |
| TEX Terex Corp. | 0.53% | 49,000 | $2.3M | No change |
| KEY Keycorp | 0.53% | 131,000 | $2.3M | No change |
| UNP Union Pacific Corp. | 0.52% | 9,730 | $2.2M | No change |
| DOX Amdocs Ltd. | 0.51% | 24,436 | $2.2M | No change |
| EQH Equitable Holdings Inc. | 0.51% | 39,200 | $2.2M | No change |
| POR Portland General Electric Co. | 0.51% | 54,042 | $2.2M | No change |
| BHP BHP Group Ltd.-Spon ADR | 0.50% | 45,000 | $2.2M | New |
| CVI CVR Energy Inc. | 0.49% | 79,000 | $2.1M | New |
| CDW CDW Corp. | 0.48% | 11,800 | $2.1M | No change |
| WMS Advanced Drainage Systems Inc. | 0.48% | 18,100 | $2.1M | Reduce -26.6% |
| NXST Nexstar Media Group Inc. | 0.47% | 11,800 | $2.0M | No change |
| LMT Lockheed Martin Corp. | 0.47% | 4,400 | $2.0M | No change |
| MGA Magna International Inc. | 0.46% | 51,457 | $2.0M | No change |
| B Barrick Mining Corp. | 0.43% | 90,000 | $1.9M | New |
| PFGC Performance Food Group Co. | 0.43% | 21,375 | $1.9M | No change |
| OMF Onemain Holdings Inc. | 0.43% | 32,800 | $1.9M | No change |
| CXH MFS Investment Grade Muni | 0.43% | 244,295 | $1.9M | No change |
| OPLN Openlane Inc. | 0.41% | 73,000 | $1.8M | Reduce -39.2% |
| AXP American Express Co. | 0.40% | 5,500 | $1.8M | No change |
| CCEP Coca-Cola Europacific Partne | 0.40% | 18,852 | $1.7M | New |
| TFC Truist Financial Corp. | 0.39% | 39,100 | $1.7M | No change |
| SNV Synovus Financial Corp. | 0.39% | 32,375 | $1.7M | No change |
| NLY Annaly Capital Management Inc. | 0.38% | 86,684 | $1.6M | Reduce -48.2% |
| RNR Renaissancere Holdings Ltd. | 0.36% | 6,500 | $1.6M | No change |
Other holdings (3): bonds, preferreds, convertibles and warrants · $3.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 1,999 | $2.4M | Add +11.1% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 1,112 | $1.3M | Reduce -52.6% |
| RIVERNORTH CAPITAL AND INCOM | RIGHT 07/07/2025 | 70,827 | $4K | New |
Total filed on the 13F, all lines: $438.3M.
Portfolio Sells Q1 2025 → Q2 2025
| DNOW Dnow Inc. | Reduce -61.2% | 0.68% | −1.40 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −1.29 |
| TRN Trinity Industries Inc. | Reduce -72.7% | 0.36% | −1.06 |
| CMP Compass Minerals Internation | Sold out | 0.00% | −1.05 |
| RAMP Liveramp Holdings Inc. | Sold out | 0.00% | −0.79 |
| SUN Sunoco LP | Sold out | 0.00% | −0.77 |
| EME Emcor Group Inc. | Sold out | 0.00% | −0.66 |
| GSBD Goldman Sachs BDC Inc. | Reduce -84.8% | 0.10% | −0.60 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | Reduce -90.9% | 0.06% | −0.52 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -20.9% | 1.08% | −0.49 |
| FTNT Fortinet Inc. | Reduce -74.7% | 0.18% | −0.48 |
| JFR Nuveen Floating Rate Income | Reduce -36.6% | 0.75% | −0.47 |
| PRGO Perrigo Co. PLC | Reduce -91.9% | 0.04% | −0.46 |
| FWRD Forward Air Corp. | Sold out | 0.00% | −0.44 |
| HSII Heidrick & Struggles Intl | Sold out | 0.00% | −0.44 |
| NLY Annaly Capital Management Inc. | Reduce -48.2% | 0.38% | −0.43 |
| AIT Applied Industrial Tech Inc. | Sold out | 0.00% | −0.41 |
| BKR Baker Hughes Co. | Reduce -9.6% | 1.15% | −0.35 |
| ERX Direxion Daily Enrgy BL2X-Ui | Sold out | 0.00% | −0.31 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.30 |
| AMGN Amgen Inc. | Reduce -43.8% | 0.29% | −0.30 |
| ALK Alaska Air Group Inc. | Reduce -20.0% | 1.00% | −0.28 |
| VMI Valmont Industries | Sold out | 0.00% | −0.27 |
| NKE Nike Inc. Class B | Reduce -49.7% | 0.32% | −0.26 |
| TSN Tyson Foods Inc. Class A | Sold out | 0.00% | −0.26 |
| MMM 3M Co. | Reduce -43.8% | 0.32% | −0.24 |
| BBDC Barings BDC Inc. | Sold out | 0.00% | −0.23 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -28.3% | 0.22% | −0.19 |
| XRSFX Rivernorth Capital & Income | Reduce -38.9% | 0.24% | −0.18 |
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −0.17 |
| EXPE Expedia Group Inc. | Reduce -44.8% | 0.18% | −0.16 |
| WMS Advanced Drainage Systems Inc. | Reduce -26.6% | 0.48% | −0.16 |
| META Meta Platforms Inc. Class A | Reduce -30.2% | 1.02% | −0.15 |
| SNX TD Synnex Corp. | Reduce -35.6% | 0.68% | −0.15 |
| DAN Dana Inc. | Sold out | 0.00% | −0.14 |
| SON Sonoco Products Co. | Reduce -6.2% | 0.76% | −0.14 |
| OPLN Openlane Inc. | Reduce -39.2% | 0.41% | −0.14 |
| SWX Southwest Gas Holdings Inc. | Reduce -19.5% | 0.56% | −0.13 |
| ADSK Autodesk Inc. | Reduce -25.9% | 0.71% | −0.12 |
| PANW Palo Alto Networks Inc. | Reduce -26.5% | 0.71% | −0.12 |
| NGVT Ingevity Corp. | Reduce -35.0% | 0.26% | −0.12 |
| MRK Merck & Co. Inc. | Reduce -49.5% | 0.09% | −0.12 |
| GNTX Gentex Corp. | Reduce -26.9% | 0.22% | −0.11 |
| HIG Hartford Insurance Group Inc. | Reduce -22.4% | 0.35% | −0.10 |
| NFG National Fuel Gas Co. | Reduce -8.6% | 1.86% | −0.10 |
| EEFT Euronet Worldwide Inc. | Reduce -5.8% | 0.63% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -5.6% | 1.42% | −0.09 |
| ALE Allete Inc. | Reduce -25.0% | 0.20% | −0.08 |
| CRM Salesforce Inc. | Reduce -8.1% | 0.74% | −0.07 |
| NEE Nextera Energy Inc. | Reduce -21.4% | 0.22% | −0.07 |
Portfolio Buys Q1 2025 → Q2 2025
| STX Seagate Technology Holdings | New | 1.58% | +1.58 |
| TER Teradyne Inc. | New | 1.47% | +1.47 |
| CENX Century Aluminum Company | New | 1.35% | +1.35 |
| DINO HF Sinclair Corp. | New | 0.99% | +0.99 |
| TRS Trimas Corp. | New | 0.92% | +0.92 |
| BVN Cia DE Minas Buenaventur-ADR | New | 0.79% | +0.79 |
| OI O-I Glass Inc. | New | 0.68% | +0.68 |
| HYI Western Asset High Yield Opp | Add +59.1% | 1.83% | +0.66 |
| TSEOQ Trinseo PLC | New | 0.54% | +0.54 |
| CRS Carpenter Technology | Add +23.3% | 1.18% | +0.53 |
| D Dominion Energy Inc. | Add +78.6% | 1.18% | +0.51 |
| BHP BHP Group Ltd.-Spon ADR | New | 0.50% | +0.50 |
| CVI CVR Energy Inc. | New | 0.49% | +0.49 |
| B Barrick Mining Corp. | New | 0.43% | +0.43 |
| CCEP Coca-Cola Europacific Partne | New | 0.40% | +0.40 |
| LUV Southwest Airlines Co. | Add +243.3% | 0.57% | +0.40 |
| HBAN Huntington Bancshares Inc. | Add +147.9% | 0.57% | +0.36 |
| SXT Sensient Technologies Corp. | New | 0.35% | +0.35 |
| MKSI MKS Inc. | New | 0.33% | +0.33 |
| POWI Power Integrations Inc. | New | 0.33% | +0.33 |
| DAL Delta Air Lines Inc. | Add +95.5% | 0.60% | +0.32 |
| SYNA Synaptics Inc. | New | 0.32% | +0.32 |
| KLIC Kulicke & Soffa Industries | New | 0.30% | +0.30 |
| VOD Vodafone Group PLC-SP ADR | Add +17.8% | 1.27% | +0.30 |
| CEVA Ceva Inc. | New | 0.29% | +0.29 |
| XPMAX Pioneer Municipal High Inc. | Add +65.3% | 0.68% | +0.25 |
| TTEK Tetra Tech Inc. | Add +14.0% | 0.94% | +0.25 |
| MTRN Materion Corp. | New | 0.24% | +0.24 |
| HUN Huntsman Corp. | Add +125.0% | 0.73% | +0.23 |
| PSCT Invesco S&P Smallcap Informa | New | 0.19% | +0.19 |
| AES AES Corp. | New | 0.19% | +0.19 |
| SJNK SS SPDR BB St Hi Yield ETF | Add +200.0% | 0.18% | +0.12 |
| PEGA Pegasystems Inc. | Add +63.7% | 0.57% | +0.11 |
| AGNC AGNC Investment Corp. | Add +25.8% | 0.65% | +0.10 |
| GDOT Green Dot Corp. Class A | Add +64.5% | 0.18% | +0.09 |
| XJQCX Nuveen Credit Strategies Inc. | New | 0.08% | +0.08 |
| SR Spire Inc. | Add +20.4% | 0.94% | +0.08 |
| TPICQ Tpi Composites Inc. | New | 0.08% | +0.08 |
| ACWI iShares MSCI Acwi ETF | New | 0.04% | +0.04 |
| CCIF Carlyle Credit Income Fund | New | 0.03% | +0.03 |
| TT Trane Technologies PLC | New | 0.01% | +0.01 |
| UTHR United Therapeutics Corp. | New | 0.00% | +0.00 |
| USB US Bancorp | New | 0.00% | +0.00 |
| THG Hanover Insurance Group Inc./ | New | 0.00% | +0.00 |
| ITT Itt Inc. | New | 0.00% | +0.00 |
| SCHW Schwab (charles) Corp. | New | 0.00% | +0.00 |
| CAT Caterpillar Inc. | New | 0.00% | +0.00 |
| C Citigroup Inc. | New | 0.00% | +0.00 |
| CTSH Cognizant Tech Solutions-A | New | 0.00% | +0.00 |
| CMI Cummins Inc. | New | 0.00% | +0.00 |
Notes & Other Activity Q1 2025 → Q2 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +11.1% | 1,999 | $2.4M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -52.6% | 1,112 | $1.3M |
| RIVERNORTH CAPITAL AND INCOM | RIGHT 07/07/2025 | New | 70,827 | $4K |
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 |