ICW Investment Advisors LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), ICW Investment Advisors LLC reported 143 stock positions worth $274.5 million. Its top holding was Microsoft (MSFT) at 3.1% of the portfolio, followed by Apple (AAPL, 2.6%) and Broadcom (AVGO, 2.2%). Compared with Q2 2025, it opened 5 new positions, sold out of 2, added to 120 and reduced 14. The biggest buy was Apple (AAPL, shares +7%) and the biggest sale Eli Lilly (LLY, shares −5%).

Most Recent 13F
Q2 2026
Location
Scottsdale, AZ
CIK
0001794820
Portfolio Value
$274.5M (Q3 2025)
SEC Filing
0001172661-25-004610 ↗ filed Nov 6, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $224.9M Q1 2024 Q2 2024: $220.3M Q2 2024 Q3 2024: $240.3M Q3 2024 Q4 2024: $239.6M Q4 2024 Q1 2025: $245.5M Q1 2025 Q2 2025: $253.2M Q2 2025 Q3 2025: $274.5M $274.5M Q3 2025 Q4 2025: $275.0M Q4 2025 Q1 2026: $276.6M Q1 2026 Q2 2026: $285.7M Q2 2026

Holdings 143 stocks · $274.5M
MSFT Microsoft Corp. 3.05% 16,170 $8.4M Add +4.7%
AAPL Apple Inc. 2.55% 27,499 $7.0M Add +6.7%
AVGO Broadcom Inc. 2.20% 18,273 $6.0M Add +5.6%
MA Mastercard Inc. Class A 2.15% 10,390 $5.9M Add +2.8%
ABBV Abbvie Inc. 2.10% 24,897 $5.8M Add +2.7%
ORLY O'reilly Automotive Inc. 2.09% 53,269 $5.7M Add +0.4%
VOO Vanguard S&P 500 ETF 2.09% 9,346 $5.7M Add +5.8%
V Visa Inc. Class A 2.08% 16,687 $5.7M Add +4.6%
COST Costco Wholesale Corp. 1.89% 5,590 $5.2M Add +1.0%
CASY Casey's General Stores Inc. 1.86% 9,035 $5.1M Add +0.7%
NVDA Nvidia Corp. 1.72% 25,231 $4.7M Add +16.2%
AMZN Amazon.com Inc. 1.59% 19,908 $4.4M Add +11.7%
LLY Eli Lilly & Co. 1.56% 5,611 $4.3M Reduce -5.4%
GOOGL Alphabet Inc. Class A 1.53% 17,270 $4.2M Add +11.8%
COR Cencora Inc. 1.52% 13,370 $4.2M Add +3.3%
WMT Walmart Inc. 1.50% 39,951 $4.1M Add +0.5%
HD Home Depot Inc. 1.47% 9,961 $4.0M Add +1.0%
ABT Abbott Laboratories 1.42% 29,132 $3.9M Add +3.2%
ADP Automatic Data Processing 1.41% 13,198 $3.9M Add +3.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.35% 25,560 $3.7M Reduce -0.7%
NOC Northrop Grumman Corp. 1.33% 6,000 $3.7M Reduce -0.9%
SHW The Sherwin-Williams Co. 1.31% 10,364 $3.6M Add +4.5%
FAST Fastenal Co. 1.28% 71,613 $3.5M Add +0.6%
LIN Linde PLC 1.28% 7,380 $3.5M Add +5.5%
JNJ Johnson & Johnson 1.21% 17,914 $3.3M Add +5.3%
RMD Resmed Inc. 1.19% 11,894 $3.3M Add +3.2%
PEP Pepsico Inc. 1.18% 23,126 $3.2M Add +5.2%
MCD McDonald's Corp. 1.18% 10,656 $3.2M Add +4.3%
LMT Lockheed Martin Corp. 1.10% 6,070 $3.0M Add +5.8%
GD General Dynamics Corp. 1.09% 8,786 $3.0M Add +1.2%
ROST Ross Stores Inc. 1.05% 18,990 $2.9M Add +2.1%
XOM Exxon Mobil Corp. 1.04% 25,217 $2.8M Add +4.6%
YUM Yum! Brands Inc. 1.02% 18,468 $2.8M Add +5.0%
LHX L3HARRIS Technologies Inc. 0.96% 8,602 $2.6M Add +0.6%
AMGN Amgen Inc. 0.95% 9,259 $2.6M Add +5.5%
CVX Chevron Corp. 0.92% 16,173 $2.5M Add +4.6%
PG The Procter & Gamble Co. 0.91% 16,300 $2.5M Add +2.5%
NVO Novo-Nordisk A/S-Spons ADR 0.90% 44,575 $2.5M Add +5.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.90% 3,699 $2.5M Add +0.3%
ITW Illinois Tool Works 0.90% 9,443 $2.5M Add +3.3%
RTX RTX Corp. 0.87% 14,199 $2.4M Add +1.8%
KO The Coca-Cola Co. 0.85% 35,266 $2.3M Add +2.8%
APH Amphenol Corp. Class A 0.80% 17,653 $2.2M Add +3.8%
DGX Quest Diagnostics Inc. 0.80% 11,450 $2.2M Add +3.3%
HSY The Hershey Co. 0.78% 11,460 $2.1M Add +2.6%
O Realty Income Corp. 0.78% 35,241 $2.1M Add +5.5%
CHD Church & Dwight Co. Inc. 0.76% 23,845 $2.1M Add +2.7%
DCI Donaldson Co. Inc. 0.75% 25,305 $2.1M Add +2.9%
SBUX Starbucks Corp. 0.71% 23,144 $2.0M Reduce -3.3%
SYK Stryker Corp. 0.68% 5,066 $1.9M Add +3.5%
ROL Rollins Inc. 0.68% 31,860 $1.9M Add +1.3%
RSG Republic Services Inc. 0.67% 8,052 $1.8M Add +3.8%
SO The Southern Co. 0.66% 19,182 $1.8M Add +3.3%
UL Unilever PLC 0.66% 30,484 $1.8M Add +4.4%
BCPC Balchem Corp. 0.65% 11,964 $1.8M Add +2.8%
BDX Becton Dickinson and Co. 0.65% 9,546 $1.8M Add +3.9%
DOV Dover Corp. 0.65% 10,706 $1.8M Add +2.7%
NEE Nextera Energy Inc. 0.64% 23,105 $1.7M Add +4.4%
ECL Ecolab Inc. 0.63% 6,358 $1.7M Add +4.3%
CL Colgate-Palmolive Co. 0.63% 21,694 $1.7M Add +5.1%
EXPD Expeditors Intl Wash Inc. 0.62% 13,895 $1.7M Reduce -2.0%
WEC WEC Energy Group Inc. 0.60% 14,467 $1.7M Add +5.4%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.59% 1,697 $1.6M Add +5.6%
MKC McCormick & Co.-Non VTG SHRS 0.59% 24,159 $1.6M Add +4.0%
FISV Fiserv Inc. 0.59% 12,528 $1.6M Add +14.4%
MDT Medtronic PLC 0.57% 16,527 $1.6M Add +3.6%
CNI Canadian Natl Railway Co. 0.57% 16,525 $1.6M Add +0.7%
APD Air Products & Chemicals Inc. 0.56% 5,661 $1.5M Add +5.5%
CSCO Cisco Systems Inc. 0.56% 22,353 $1.5M Reduce -1.6%
FDS Factset Research Systems Inc. 0.54% 5,208 $1.5M Add +9.1%
ACN Accenture PLC Class A 0.53% 5,947 $1.5M Add +6.2%
AME Ametek Inc. 0.53% 7,780 $1.5M Add +5.4%
META Meta Platforms Inc. Class A 0.53% 1,989 $1.5M Add +30.7%
MO Altria Group Inc. 0.51% 21,086 $1.4M Add +0.7%
UNP Union Pacific Corp. 0.50% 5,846 $1.4M Add +5.0%
CLX Clorox Company 0.50% 11,193 $1.4M Add +5.0%
GIS General Mills Inc. 0.50% 27,083 $1.4M Add +5.7%
UNH Unitedhealth Group Inc. 0.49% 3,903 $1.3M Add +18.1%
GOOG Alphabet Inc. Class C 0.47% 5,300 $1.3M Add +0.3%
GPC Genuine Parts Co. 0.46% 9,205 $1.3M Add +0.9%
ATR Aptargroup Inc. 0.45% 9,216 $1.2M Add +6.1%
PM Philip Morris International 0.45% 7,546 $1.2M Add +2.5%
NKE Nike Inc. Class B 0.44% 17,479 $1.2M Reduce -1.4%
HRL Hormel Foods Corp. 0.44% 48,962 $1.2M Add +4.1%
PSA Public Storage 0.44% 4,149 $1.2M Add +4.6%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.43% 8,000 $1.2M Add +6.5%
KMB Kimberly-Clark Corp. 0.43% 9,442 $1.2M Add +8.1%
DHR Danaher Corp. 0.42% 5,871 $1.2M Add +8.7%
INTU Intuit Inc. 0.42% 1,698 $1.2M Add +12.0%
QQQ Invesco QQQ Trust Series 1 0.40% 1,837 $1.1M Add +2.3%
TGT Target Corp. 0.39% 12,046 $1.1M Reduce -0.5%
CPK Chesapeake Utilities Corp. 0.39% 8,001 $1.1M Add +6.4%
ORCL Oracle Corp. 0.39% 3,827 $1.1M Add +11.3%
QCOM Qualcomm Inc. 0.39% 6,424 $1.1M Add +6.4%
CARR Carrier Global Corp. 0.37% 17,018 $1.0M Add +7.0%
KDP Keurig Dr Pepper Inc. 0.36% 39,147 $999K Add +4.1%
NSC Norfolk Southern Corp. 0.36% 3,252 $977K Add +2.3%
HEI.A Heico Corp. Class A 0.35% 3,782 $961K Add +4.2%
NJR New Jersey Resources Corp. 0.34% 19,174 $923K Add +0.2%
ZTS Zoetis Inc. 0.33% 6,123 $896K Add +8.9%
FLO Flowers Foods Inc. 0.32% 67,066 $875K Add +7.2%
ROP Roper Technologies Inc. 0.31% 1,732 $864K Add +10.8%
BLK BlackRock Inc. 0.31% 734 $856K Add +15.2%
CTAS Cintas Corp. 0.31% 4,122 $846K Add +9.9%
JPM JPMorgan Chase & Co. 0.31% 2,676 $844K Add +3.8%
RSP Invesco S&P 500 Equal Weight 0.30% 4,392 $833K Add +8.1%
BF.B Brown-Forman Corp. Class B 0.30% 30,110 $815K Add +7.5%
TXN Texas Instruments Inc. 0.29% 4,328 $795K Add +7.6%
MGEE Mge Energy Inc. 0.28% 9,269 $780K Add +4.5%
IWR iShares Russell Mid-Cap ETF 0.26% 7,274 $702K No change
SPGI S&P Global Inc. 0.25% 1,429 $696K Add +10.9%
TMO Thermo Fisher Scientific Inc. 0.25% 1,420 $689K Add +12.3%
DPZ Domino's Pizza Inc. 0.24% 1,546 $667K Add +13.3%
MZTI The Marzetti Company 0.24% 3,825 $661K Reduce -1.3%
ADI Analog Devices Inc. 0.23% 2,587 $636K Add +15.2%
OTIS Otis Worldwide Corp. 0.23% 6,930 $634K Add +1.3%
CBSH Commerce Bancshares Inc. 0.22% 10,192 $609K Reduce -0.1%
CAT Caterpillar Inc. 0.22% 1,260 $601K Add +0.1%
FTV Fortive Corp. 0.22% 12,068 $591K Reduce -3.9%
AWK American Water Works Co. Inc. 0.19% 3,837 $534K Add +14.8%
D Dominion Energy Inc. 0.17% 7,845 $480K Add +0.1%
WSO Watsco Inc. 0.17% 1,143 $462K Add +24.4%
JJSF J & J Snack Foods Corp. 0.17% 4,724 $454K Reduce -3.9%
TSCO Tractor Supply Company 0.16% 7,850 $446K Add +6.7%
CME Cme Group Inc. 0.15% 1,550 $419K Add +18.9%
CPRT Copart Inc. 0.15% 8,937 $402K Add +21.1%
ODFL Old Dominion Freight Line 0.14% 2,692 $379K Add +19.6%
PAYX Paychex Inc. 0.13% 2,725 $345K Add +0.3%
DG Dollar General Corp. 0.13% 3,329 $344K Add +1.6%
ELV Elevance Health Inc. 0.12% 1,015 $328K No change
SYY Sysco Corp. 0.12% 3,869 $319K Reduce -2.0%
BKNG Booking Holdings Inc. 0.11% 57 $309K New
MTD Mettler-Toledo International 0.11% 251 $308K Add +1.6%
AZN Astrazeneca PLC-Spons ADR 0.11% 4,000 $307K No change
CMI Cummins Inc. 0.11% 705 $298K Add +2.5%
HON Honeywell International Inc. 0.10% 1,343 $283K Reduce -3.6%
IJR iShares Core S&P Small-Cap E 0.09% 2,103 $250K No change
PH Parker Hannifin Corp. 0.09% 328 $249K New
VRTX Vertex Pharmaceuticals Inc. 0.09% 632 $247K Add +4.6%
GGG Graco Inc. 0.09% 2,849 $242K Add +4.6%
IEX Idex Corp. 0.08% 1,428 $232K New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.07% 663 $205K New
SDY SS SPDR S&P Dividend ETF 0.07% 1,464 $205K New

Options reported separately and not counted above: LLY puts ($3.5M).

Portfolio Sells Q2 2025 → Q3 2025
LLY Eli Lilly & Co. Reduce -5.4% 1.56% −0.27
SBUX Starbucks Corp. Reduce -3.3% 0.71% −0.15
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.08
RAL Ralliant Corp. Sold out 0.00% −0.08
TGT Target Corp. Reduce -0.5% 0.39% −0.08
CSCO Cisco Systems Inc. Reduce -1.6% 0.56% −0.07
JJSF J & J Snack Foods Corp. Reduce -3.9% 0.17% −0.05
NKE Nike Inc. Class B Reduce -1.4% 0.44% −0.05
FTV Fortive Corp. Reduce -3.9% 0.22% −0.04
CBSH Commerce Bancshares Inc. Reduce -0.1% 0.22% −0.03
HON Honeywell International Inc. Reduce -3.6% 0.10% −0.03
MZTI The Marzetti Company Reduce -1.3% 0.24% −0.02
EXPD Expeditors Intl Wash Inc. Reduce -2.0% 0.62% −0.02
SYY Sysco Corp. Reduce -2.0% 0.12% −0.00
TJX TJX Companies Inc. Reduce -0.7% 1.35% +0.09
NOC Northrop Grumman Corp. Reduce -0.9% 1.33% +0.14

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +6.7% 2.55% +0.46
GOOGL Alphabet Inc. Class A Add +11.8% 1.53% +0.45
NVDA Nvidia Corp. Add +16.2% 1.72% +0.36
ABBV Abbvie Inc. Add +2.7% 2.10% +0.32
AVGO Broadcom Inc. Add +5.6% 2.20% +0.31
ORLY O'reilly Automotive Inc. Add +0.4% 2.09% +0.20
JNJ Johnson & Johnson Add +5.3% 1.21% +0.18
APH Amphenol Corp. Class A Add +3.8% 0.80% +0.13
ROST Ross Stores Inc. Add +2.1% 1.05% +0.12
BKNG Booking Holdings Inc. New 0.11% +0.11
LHX L3HARRIS Technologies Inc. Add +0.6% 0.96% +0.11
VOO Vanguard S&P 500 ETF Add +5.8% 2.09% +0.10
GOOG Alphabet Inc. Class C Add +0.3% 0.47% +0.10
FAST Fastenal Co. Add +0.6% 1.28% +0.10
ORCL Oracle Corp. Add +11.3% 0.39% +0.10
GD General Dynamics Corp. Add +1.2% 1.09% +0.09
PH Parker Hannifin Corp. New 0.09% +0.09
META Meta Platforms Inc. Class A Add +30.7% 0.53% +0.09
IEX Idex Corp. New 0.08% +0.08
UNH Unitedhealth Group Inc. Add +18.1% 0.49% +0.08
DCI Donaldson Co. Inc. Add +2.9% 0.75% +0.08
AJG Arthur J Gallagher & Co. New 0.07% +0.07
SDY SS SPDR S&P Dividend ETF New 0.07% +0.07
RTX RTX Corp. Add +1.8% 0.87% +0.06
LMT Lockheed Martin Corp. Add +5.8% 1.10% +0.05
CASY Casey's General Stores Inc. Add +0.7% 1.86% +0.05
HSY The Hershey Co. Add +2.6% 0.78% +0.05
TMO Thermo Fisher Scientific Inc. Add +12.3% 0.25% +0.05
AMZN Amazon.com Inc. Add +11.7% 1.59% +0.05
BLK BlackRock Inc. Add +15.2% 0.31% +0.05
HD Home Depot Inc. Add +1.0% 1.47% +0.04
CVX Chevron Corp. Add +4.6% 0.92% +0.04
WEC WEC Energy Group Inc. Add +5.4% 0.60% +0.04
PEP Pepsico Inc. Add +5.2% 1.18% +0.04
CPK Chesapeake Utilities Corp. Add +6.4% 0.39% +0.04
NSC Norfolk Southern Corp. Add +2.3% 0.36% +0.03
NEE Nextera Energy Inc. Add +4.4% 0.64% +0.03
GPC Genuine Parts Co. Add +0.9% 0.46% +0.03
CAT Caterpillar Inc. Add +0.1% 0.22% +0.03
BDX Becton Dickinson and Co. Add +3.9% 0.65% +0.03
MDT Medtronic PLC Add +3.6% 0.57% +0.02
MO Altria Group Inc. Add +0.7% 0.51% +0.02
ADI Analog Devices Inc. Add +15.2% 0.23% +0.02
O Realty Income Corp. Add +5.5% 0.78% +0.02
CMI Cummins Inc. Add +2.5% 0.11% +0.02
MSFT Microsoft Corp. Add +4.7% 3.05% +0.02
JPM JPMorgan Chase & Co. Add +3.8% 0.31% +0.01
RMD Resmed Inc. Add +3.2% 1.19% +0.01
RSP Invesco S&P 500 Equal Weight Add +8.1% 0.30% +0.01
AWK American Water Works Co. Inc. Add +14.8% 0.19% +0.01

Options Activity Q2 2025 → Q3 2025
LLY Eli Lilly & Co. put New 4,600 $3.5M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 144$285.7MAAPL, AVGO, CASY, NVDA, MSFT
Q1 2026 147$276.6MAAPL, MSFT, CASY, AVGO, NVDA
Q4 2025 145$275.0MMSFT, AAPL, AVGO, LLY, MA
Q3 2025 143$274.5MMSFT, AAPL, AVGO, MA, ABBV
Q2 2025 140$253.2MMSFT, MA, V, COST, AAPL
Q1 2025 140$245.5MMSFT, V, AAPL, MA, LLY
Q4 2024 139$239.6MMSFT, AAPL, MA, COST, V
Q3 2024 139$240.3MMSFT, AAPL, COST, MA, VOO
Q2 2024 137$220.3MMSFT, NVO, AAPL, COST, VOO
Q1 2024 137$224.9MMSFT, NVO, MA, ABBV, V