Ironwood Investment Counsel, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Ironwood Investment Counsel, LLC reported 257 stock positions worth $573.3 million. Its top holding was Microsoft (MSFT) at 6.8% of the portfolio, followed by Apple (AAPL, 4.1%) and Schwab Fndmntl US SM Co. ETF (FNDA, 2.2%). Compared with Q4 2023, it opened 11 new positions, sold out of 7, added to 81 and reduced 106. The biggest buy was Two RDS Shared TR (shares +385%) and the biggest sale an exit from Anheuser-Busch Inbev-SPN ADR (BUD).
- Most Recent 13F
- Q2 2026
- Location
- SCOTTSDALE, AZ
- CIK
- 0001330463
- Portfolio Value
- $573.3M (Q1 2024)
- SEC Filing
- 0001330463-24-000002 ↗ filed May 10, 2024
Holdings Value
Holdings 257 stocks · $573.3M
| MSFT Microsoft Corp. | 6.75% | 92,001 | $38.7M | Reduce -2.4% |
| AAPL Apple Inc. | 4.05% | 135,521 | $23.2M | Reduce -0.1% |
| FNDA Schwab Fndmntl US SM Co. ETF | 2.19% | 220,589 | $12.6M | Add +12.1% |
| AMZN Amazon.com Inc. | 1.96% | 62,268 | $11.2M | Add +1.4% |
| GOOGL Alphabet Inc. Class A | 1.92% | 72,753 | $11.0M | Add +1.4% |
| BERKSHIRE HATHAWAY INC | 1.83% | 24,998 | $10.5M | Reduce -0.5% |
| ACN Accenture PLC Class A | 1.74% | 28,839 | $10.0M | Reduce -0.8% |
| MRK Merck & Co Inc | 1.70% | 73,789 | $9.7M | Add +0.7% |
| JNJ Johnson & Johnson | 1.70% | 61,516 | $9.7M | Reduce -2.8% |
| AGG iShares Core U.S. Aggregate | 1.66% | 96,919 | $9.5M | Add +0.6% |
| SCHW Schwab (charles) Corp. | 1.63% | 128,841 | $9.3M | Add +2.0% |
| AXP American Express Co. | 1.62% | 40,906 | $9.3M | Add +0.0% |
| SYY Sysco Corp. | 1.61% | 114,020 | $9.3M | Add +0.6% |
| FPE FT-Preferred Secur & Inc. ETF | 1.51% | 500,669 | $8.7M | Add +27.5% |
| CSCO Cisco Systems Inc. | 1.51% | 173,453 | $8.7M | Add +0.9% |
| MA Mastercard Inc. Class A | 1.50% | 17,819 | $8.6M | Add +0.6% |
| PEP Pepsico Inc. | 1.37% | 44,876 | $7.9M | Add +1.3% |
| KLAC KLA Corp. | 1.36% | 11,159 | $7.8M | Reduce -0.1% |
| CVS CVS Health Corp. | 1.34% | 96,400 | $7.7M | Reduce -0.6% |
| USB US Bancorp | 1.24% | 159,361 | $7.1M | Reduce -17.3% |
| META Meta Platforms Inc. Class A | 1.19% | 14,064 | $6.8M | Reduce -0.2% |
| LMT Lockheed Martin Corp. | 1.15% | 14,466 | $6.6M | Add +2.3% |
| CMI Cummins Inc. | 1.14% | 22,142 | $6.5M | Add +2.6% |
| HD Home Depot Inc. | 1.13% | 16,956 | $6.5M | Reduce -0.9% |
| FISV Fiserv Inc. | 1.11% | 39,684 | $6.3M | Add +2.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.10% | 51,465 | $6.3M | Add +3.3% |
| MDT Medtronic Inc | 1.08% | 71,021 | $6.2M | Add +3.2% |
| ADBE Adobe Inc. | 1.05% | 11,972 | $6.0M | Add +2.8% |
| IVV iShares Core S&P 500 ETF | 1.05% | 11,411 | $6.0M | Add +6.2% |
| HYD Vaneck High Yield Muni ETF | 1.04% | 114,260 | $6.0M | Reduce -6.5% |
| UPS United Parcel Service Class B | 1.03% | 39,900 | $5.9M | Add +0.8% |
| LOW Lowe's Cos Inc. | 1.00% | 22,513 | $5.7M | Add +1.5% |
| SBUX Starbucks Corp. | 0.99% | 62,081 | $5.7M | Add +4.0% |
| JPM JPMorgan Chase & Co. | 0.96% | 27,476 | $5.5M | Reduce -2.3% |
| QCOM Qualcomm Inc. | 0.95% | 32,144 | $5.4M | Add +84.8% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.95% | 80,539 | $5.4M | Add +10.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.93% | 28,001 | $5.3M | Reduce -33.7% |
| TWO RDS SHARED TR | 0.92% | 86,653 | $5.3M | Add +385.3% |
| CMCSA Comcast Corp. Class A | 0.90% | 118,961 | $5.2M | Add +3.0% |
| PG The Procter & Gamble Co. | 0.89% | 31,272 | $5.1M | Reduce -8.5% |
| TER Teradyne Inc. | 0.84% | 42,891 | $4.8M | Add +5.0% |
| MCK McKesson Corp. | 0.76% | 8,169 | $4.4M | Reduce -1.7% |
| CAH Cardinal Health Inc. | 0.74% | 37,819 | $4.2M | Reduce -0.7% |
| AVGO Broadcom Inc. | 0.68% | 2,955 | $3.9M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.68% | 33,315 | $3.9M | Reduce -4.5% |
| HSY The Hershey Co. | 0.64% | 18,721 | $3.6M | Add +49.7% |
| COST Costco Wholesale Corp. | 0.63% | 4,916 | $3.6M | Add +0.8% |
| LH Laboratory CRP of Amer Hldgs | 0.63% | 16,449 | $3.6M | Add +1.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.63% | 15,716 | $3.6M | Reduce -4.0% |
| BRO Brown & Brown Inc. | 0.62% | 40,388 | $3.5M | Reduce -1.6% |
| CTVA Corteva Inc. | 0.61% | 60,515 | $3.5M | Add +9.5% |
| DG Dollar General Corp. | 0.60% | 22,217 | $3.5M | Add +133.9% |
| NVDA Nvidia Corp. | 0.60% | 3,835 | $3.5M | Reduce -3.6% |
| OGE Oge Energy Corp. | 0.60% | 100,289 | $3.4M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.60% | 6,563 | $3.4M | Add +0.3% |
| MCD McDonald's Corp. | 0.55% | 11,278 | $3.2M | Reduce -1.0% |
| VZ Verizon Communications Inc. | 0.52% | 71,629 | $3.0M | Reduce -3.8% |
| VOO Vanguard S&P 500 ETF | 0.48% | 5,748 | $2.8M | Add +5.0% |
| GOOG Alphabet Inc. Class C | 0.48% | 18,099 | $2.8M | Reduce -0.8% |
| JPST JPMorgan Ultra-Short Income | 0.48% | 54,106 | $2.7M | Reduce -26.7% |
| LLY Eli Lilly & Co. | 0.47% | 3,428 | $2.7M | Add +0.0% |
| OMC Omnicom Group | 0.46% | 27,516 | $2.7M | Add +0.8% |
| CVX Chevron Corp. | 0.46% | 16,755 | $2.6M | Reduce -7.5% |
| IWD iShares Russell 1000 Value E | 0.41% | 13,119 | $2.3M | Add +0.5% |
| EFV iShares MSCI Eafe Value ETF | 0.39% | 41,126 | $2.2M | Reduce -1.4% |
| VCIT Vanguard Int-Term Corporate | 0.39% | 27,683 | $2.2M | Add +3.8% |
| T AT&T Inc. | 0.38% | 124,170 | $2.2M | Add +2.4% |
| WMT Walmart Inc. | 0.37% | 34,830 | $2.1M | Reduce -2.9% |
| PAYX Paychex Inc. | 0.36% | 16,800 | $2.1M | Reduce -0.1% |
| MDLZ Mondelez International Inc. Class A | 0.35% | 28,930 | $2.0M | Reduce -1.8% |
| VEA Vanguard Ftse Developed ETF | 0.35% | 39,490 | $2.0M | Reduce -0.9% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.34% | 16,012 | $2.0M | Add +0.2% |
| TSLA Tesla Inc. | 0.33% | 10,904 | $1.9M | Reduce -8.4% |
| VIG Vanguard Dividend Apprec ETF | 0.33% | 10,384 | $1.9M | Reduce -14.0% |
| HUBB Hubbell Inc. | 0.33% | 4,539 | $1.9M | Reduce -1.6% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.33% | 39,684 | $1.9M | Reduce -2.6% |
| EMR Emerson Electric Co. | 0.33% | 16,584 | $1.9M | Reduce -1.2% |
| SHY iShares 1-3 Year Treasury Bo | 0.33% | 22,914 | $1.9M | Reduce -12.8% |
| ABBV Abbvie Inc. | 0.32% | 10,058 | $1.8M | Reduce -3.4% |
| GIS General Mills Inc. | 0.32% | 26,014 | $1.8M | Add +0.9% |
| ADP Automatic Data Processing | 0.31% | 7,126 | $1.8M | Reduce -2.5% |
| INTU Intuit Inc. | 0.30% | 2,683 | $1.7M | Reduce -3.5% |
| UNH Unitedhealth Group Inc. | 0.30% | 3,488 | $1.7M | Add +11.1% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.29% | 32,795 | $1.7M | Reduce -40.4% |
| V Visa Inc. Class A | 0.29% | 5,942 | $1.7M | Reduce -0.2% |
| WM Waste Management Inc. | 0.28% | 7,528 | $1.6M | Add +0.4% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.27% | 20,005 | $1.6M | Add +3.4% |
| Abbott Laboratories | 0.27% | 13,613 | $1.5M | Reduce -4.1% |
| KO The Coca-Cola Co. | 0.27% | 25,105 | $1.5M | Reduce -0.8% |
| MS Morgan Stanley | 0.26% | 15,974 | $1.5M | Add +3.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.25% | 18,779 | $1.5M | Add +5.6% |
| EFG iShares MSCI Eafe Growth ETF | 0.25% | 13,893 | $1.4M | No change |
| VIGI Vanguard Int Div App Indx FD | 0.25% | 17,268 | $1.4M | Add +0.8% |
| VRP Invesco Variable Rate Prefer | 0.24% | 58,659 | $1.4M | Reduce -13.5% |
| CLX Clorox Company | 0.23% | 8,766 | $1.3M | Reduce -5.0% |
| INTC Intel Corp. | 0.23% | 30,079 | $1.3M | Reduce -7.0% |
| APD Air Products & Chemicals Inc. | 0.23% | 5,462 | $1.3M | Add +9.6% |
| BLK BlackRock Finance Inc. | 0.23% | 1,577 | $1.3M | Reduce -3.9% |
| AMGN Amgen Inc. | 0.23% | 4,570 | $1.3M | Add +5.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.22% | 2 | $1.3M | No change |
Portfolio Sells Q4 2023 → Q1 2024
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −1.02 |
| AAPL Apple Inc. | Reduce -0.1% | 4.05% | −0.83 |
| IBM Intl Business Machines Corp. | Reduce -33.7% | 0.93% | −0.36 |
| USB US Bancorp | Reduce -17.3% | 1.24% | −0.32 |
| JMST JPM Ultra-Short Muni Income | Reduce -40.4% | 0.29% | −0.23 |
| TSLA Tesla Inc. | Reduce -8.4% | 0.33% | −0.22 |
| JPST JPMorgan Ultra-Short Income | Reduce -26.7% | 0.48% | −0.22 |
| ACN Accenture PLC Class A | Reduce -0.8% | 1.74% | −0.16 |
| JNJ Johnson & Johnson | Reduce -2.8% | 1.70% | −0.16 |
| HYD Vaneck High Yield Muni ETF | Reduce -6.5% | 1.04% | −0.14 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.13 |
| PFF iShares Preferred & Income S | Sold out | 0.00% | −0.11 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -31.6% | 0.16% | −0.09 |
| CVS CVS Health Corp. | Reduce -0.6% | 1.34% | −0.09 |
| PRVA Privia Health Group Inc. | Reduce -50.0% | 0.06% | −0.09 |
| MCD McDonald's Corp. | Reduce -1.0% | 0.55% | −0.08 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -12.8% | 0.33% | −0.08 |
| INTC Intel Corp. | Reduce -7.0% | 0.23% | −0.07 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.07 |
| WFC Wells Fargo & Co. | Reduce -34.7% | 0.16% | −0.06 |
| PFE Pfizer Inc. | Reduce -28.3% | 0.11% | −0.06 |
| VIG Vanguard Dividend Apprec ETF | Reduce -14.0% | 0.33% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -8.5% | 0.89% | −0.05 |
| ZTS Zoetis Inc. | Reduce -3.8% | 0.17% | −0.05 |
| VRP Invesco Variable Rate Prefer | Reduce -13.5% | 0.24% | −0.05 |
| WBA Walgreens Boots Alliance Inc. | Reduce -4.4% | 0.14% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.8% | 0.35% | −0.05 |
| CVX Chevron Corp. | Reduce -7.5% | 0.46% | −0.04 |
| MBB iShares MBS ETF | Sold out | 0.00% | −0.04 |
| COP Conocophillips | Sold out | 0.00% | −0.04 |
| NVS Novartis AG-Sponsored ADR | Sold out | 0.00% | −0.04 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -2.6% | 0.33% | −0.03 |
| VWO Vanguard Ftse Emerging Marke | Reduce -22.9% | 0.09% | −0.03 |
| NKE Nike Inc. Class B | Reduce -2.5% | 0.12% | −0.03 |
| HON Honeywell International Inc. | Reduce -3.4% | 0.22% | −0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -4.0% | 0.63% | −0.03 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -13.8% | 0.06% | −0.03 |
| BEN Franklin Templeton Inc. | Reduce -0.3% | 0.17% | −0.02 |
| Abbott Laboratories | Reduce -4.1% | 0.27% | −0.02 |
| INTU Intuit Inc. | Reduce -3.5% | 0.30% | −0.02 |
| BLK BlackRock Finance Inc. | Reduce -3.9% | 0.23% | −0.02 |
| BKNG Booking Holdings Inc. | Reduce -5.8% | 0.17% | −0.02 |
| AMG Affiliated Managers Group | Reduce -23.3% | 0.07% | −0.02 |
| SPGI S&P Global Inc. | Reduce -3.9% | 0.12% | −0.02 |
| EFV iShares MSCI Eafe Value ETF | Reduce -1.4% | 0.39% | −0.02 |
| ITW Illinois Tool Works | Reduce -4.8% | 0.15% | −0.02 |
| SCHF Schwab Intl Equity ETF | Reduce -13.5% | 0.09% | −0.01 |
| AMT American Tower Corp. | Reduce -14.9% | 0.04% | −0.01 |
| MNST Monster Beverage Corp. | Reduce -6.5% | 0.13% | −0.01 |
| PAYX Paychex Inc. | Reduce -0.1% | 0.36% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| TWO RDS SHARED TR | Add +385.3% | 0.92% | +0.89 |
| QCOM Qualcomm Inc. | Add +84.8% | 0.95% | +0.48 |
| DG Dollar General Corp. | Add +133.9% | 0.60% | +0.36 |
| FPE FT-Preferred Secur & Inc. ETF | Add +27.5% | 1.51% | +0.28 |
| DIS The Walt Disney Co. | Add +3.3% | 1.10% | +0.26 |
| AMZN Amazon.com Inc. | Add +1.4% | 1.96% | +0.21 |
| MRK Merck & Co Inc | Add +0.7% | 1.70% | +0.20 |
| HSY The Hershey Co. | Add +49.7% | 0.64% | +0.20 |
| AXP American Express Co. | Add +0.0% | 1.62% | +0.19 |
| CMI Cummins Inc. | Add +2.6% | 1.14% | +0.17 |
| FNDA Schwab Fndmntl US SM Co. ETF | Add +12.1% | 2.19% | +0.16 |
| FISV Fiserv Inc. | Add +2.5% | 1.11% | +0.14 |
| CTVA Corteva Inc. | Add +9.5% | 0.61% | +0.11 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +10.3% | 0.95% | +0.10 |
| LLY Eli Lilly & Co. | Add +0.0% | 0.47% | +0.09 |
| IVV iShares Core S&P 500 ETF | Add +6.2% | 1.05% | +0.09 |
| MA Mastercard Inc. Class A | Add +0.6% | 1.50% | +0.08 |
| LOW Lowe's Cos Inc. | Add +1.5% | 1.00% | +0.08 |
| AVGO Broadcom Inc. | Add +0.2% | 0.68% | +0.07 |
| BND Vanguard Total Bond Market | Add +193.6% | 0.11% | +0.07 |
| SYY Sysco Corp. | Add +0.6% | 1.61% | +0.06 |
| ORCL Oracle Corp. | New | 0.06% | +0.06 |
| SCHD Schwab US DVD Equity ETF | Add +78.4% | 0.13% | +0.06 |
| NFLX Netflix Inc. | New | 0.05% | +0.05 |
| XLY SS Consumer Disc Select Sect | New | 0.05% | +0.05 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.05% | +0.05 |
| RSP Invesco S&P 500 Equal Weight | New | 0.05% | +0.05 |
| VTEB Vanguard Tax-Exempt Bond ETF | New | 0.04% | +0.04 |
| GOOGL Alphabet Inc. Class A | Add +1.4% | 1.92% | +0.04 |
| ENR Energizer Holdings Inc. | New | 0.04% | +0.04 |
| ZBH Zimmer Biomet Holdings Inc. | New | 0.04% | +0.04 |
| IJT iShares S&P Small-Cap 600 GR | New | 0.04% | +0.04 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.04% | +0.04 |
| PNC PNC Financial Services Group | New | 0.04% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +5.0% | 0.48% | +0.04 |
| AMD Advanced Micro Devices | Add +8.8% | 0.16% | +0.03 |
| WM Waste Management Inc. | Add +0.4% | 0.28% | +0.03 |
| COST Costco Wholesale Corp. | Add +0.8% | 0.63% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | Add +12.9% | 0.21% | +0.03 |
| NTAP Netapp Inc. | Add +8.3% | 0.15% | +0.03 |
| CAT Caterpillar Inc. | Add +0.0% | 0.18% | +0.02 |
| OMC Omnicom Group | Add +0.8% | 0.46% | +0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +36.5% | 0.08% | +0.02 |
| VGT Vanguard Info Tech ETF | Add +53.0% | 0.06% | +0.02 |
| MDT Medtronic Inc | Add +3.2% | 1.08% | +0.02 |
| GLW Corning Inc. | Add +11.2% | 0.17% | +0.02 |
| TROW T Rowe Price Group Inc. | Add +0.2% | 0.34% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.3% | 0.60% | +0.02 |
| TER Teradyne Inc. | Add +5.0% | 0.84% | +0.02 |
| CI The Cigna Group | Add +0.1% | 0.12% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 267 | $762.2M | AAPL, FNDA, MSFT, GOOGL, AKRE |
| Q1 2026 | 263 | $694.2M | AAPL, FNDA, MSFT, GOOGL, AKRE |
| Q4 2025 | 266 | $716.1M | MSFT, AAPL, FNDA, AKRE, GOOGL |
| Q3 2025 | 262 | $685.9M | MSFT, FNDA, AAPL, GOOGL, AMZN |
| Q2 2025 | 256 | $647.2M | MSFT, FNDA, AAPL, XOM, SPGI |
| Q1 2025 | 240 | $578.9M | MSFT, FNDA, AAPL, BERKSHIRE HATHAWAY INC, AMZN |
| Q4 2024 | 246 | $584.4M | MSFT, AAPL, FNDA, GOOGL, AMZN |
| Q3 2024 | 256 | $600.6M | MSFT, AAPL, FNDA, GOOGL, AMZN |
| Q2 2024 | 257 | $559.9M | MSFT, AAPL, FNDA, GOOGL, AMZN |
| Q1 2024 | 257 | $573.3M | MSFT, AAPL, FNDA, AMZN, GOOGL |