Ironwood Investment Counsel, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Ironwood Investment Counsel, LLC reported 240 stock positions worth $578.9 million. Its top holding was Microsoft (MSFT) at 5.9% of the portfolio, followed by Schwab Fndmntl US SM Co. ETF (FNDA, 5.9%) and Apple (AAPL, 4.8%). Compared with Q4 2024, it opened 9 new positions, sold out of 15, added to 121 and reduced 87. The biggest buy was Schwab Fndmntl US SM Co. ETF (FNDA, shares +26%) and the biggest sale Apple (AAPL, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- SCOTTSDALE, AZ
- CIK
- 0001330463
- Portfolio Value
- $578.9M (Q1 2025)
- SEC Filing
- 0001330463-25-000002 ↗ filed May 12, 2025
Holdings Value
Holdings 240 stocks · $578.9M
| MSFT Microsoft Corp. | 5.90% | 90,941 | $34.1M | Add +0.5% |
| FNDA Schwab Fndmntl US SM Co. ETF | 5.89% | 1,245,013 | $34.1M | Add +26.3% |
| AAPL Apple Inc. | 4.84% | 126,191 | $28.0M | Reduce -4.6% |
| BERKSHIRE HATHAWAY INC | 2.26% | 24,571 | $13.1M | Add +0.8% |
| AMZN Amazon.com Inc. | 2.22% | 67,650 | $12.9M | Add +8.1% |
| GOOGL Alphabet Inc. Class A | 2.04% | 76,498 | $11.8M | Add +3.6% |
| SCHW Schwab (charles) Corp. | 1.80% | 133,361 | $10.4M | Add +3.1% |
| AXP American Express Co. | 1.79% | 38,589 | $10.4M | Reduce -1.1% |
| JNJ Johnson & Johnson | 1.78% | 62,114 | $10.3M | Add +1.5% |
| MA Mastercard Inc. Class A | 1.70% | 17,938 | $9.8M | Add +1.8% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 1.54% | 376,866 | $8.9M | Add +8.4% |
| ACN Accenture PLC Class A | 1.51% | 28,084 | $8.8M | Reduce -0.6% |
| FISV Fiserv Inc. | 1.51% | 39,611 | $8.7M | Add +1.3% |
| SYY Sysco Corp. | 1.48% | 114,383 | $8.6M | Add +0.8% |
| META Meta Platforms Inc. Class A | 1.41% | 14,191 | $8.2M | Add +1.9% |
| KLAC KLA Corp. | 1.32% | 11,244 | $7.6M | Add +2.6% |
| CMI Cummins Inc. | 1.24% | 22,977 | $7.2M | Add +2.2% |
| MDT Medtronic Inc | 1.21% | 77,836 | $7.0M | Add +6.0% |
| LMT Lockheed Martin Corp. | 1.18% | 15,311 | $6.8M | Add +6.5% |
| MRK Merck & Co Inc | 1.16% | 74,663 | $6.7M | Add +3.5% |
| QCOM Qualcomm Inc. | 1.14% | 42,940 | $6.6M | Add +6.0% |
| JPM JPMorgan Chase & Co. | 1.14% | 26,888 | $6.6M | Add +1.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.12% | 26,103 | $6.5M | Reduce -1.7% |
| IVV iShares Core S&P 500 ETF | 1.09% | 11,253 | $6.3M | Reduce -1.1% |
| PEP Pepsico Inc. | 1.09% | 41,993 | $6.3M | Reduce -0.9% |
| USB US Bancorp | 1.08% | 147,536 | $6.2M | Add +0.9% |
| HD Home Depot Inc. | 1.06% | 16,722 | $6.1M | Add +0.8% |
| ADBE Adobe Inc. | 1.05% | 15,870 | $6.1M | Add +29.0% |
| LOW Lowe's Cos Inc. | 0.95% | 23,655 | $5.5M | Add +2.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.91% | 53,588 | $5.3M | Add +2.0% |
| UPS United Parcel Service Class B | 0.89% | 46,789 | $5.1M | Add +14.3% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.89% | 83,469 | $5.1M | Add +2.3% |
| MCK McKesson Corp. | 0.89% | 7,615 | $5.1M | Reduce -1.9% |
| LH Laboratory CRP of Amer Hldgs filed as LABCORP HLDGS INC | 0.86% | 21,482 | $5.0M | Add +4.1% |
| CMCSA Comcast Corp. Class A | 0.85% | 133,468 | $4.9M | Add +10.0% |
| PG The Procter & Gamble Co. | 0.83% | 28,356 | $4.8M | Reduce -0.7% |
| CAH Cardinal Health Inc. | 0.83% | 34,718 | $4.8M | Reduce -3.9% |
| OGE Oge Energy Corp. | 0.80% | 100,289 | $4.6M | No change |
| WDAY Workday Inc. Class A | 0.78% | 19,276 | $4.5M | Add +7.1% |
| HYD Vaneck High Yield Muni ETF | 0.78% | 87,806 | $4.5M | Reduce -15.6% |
| CTVA Corteva Inc. | 0.74% | 67,762 | $4.3M | Add +4.8% |
| AVGO Broadcom Inc. | 0.72% | 24,823 | $4.2M | Reduce -14.7% |
| COST Costco Wholesale Corp. | 0.71% | 4,356 | $4.1M | Reduce -5.7% |
| NVDA Nvidia Corp. | 0.70% | 37,631 | $4.1M | Add +7.7% |
| VOO Vanguard S&P 500 ETF | 0.70% | 7,930 | $4.1M | Add +39.0% |
| XOM Exxon Mobil Corp. | 0.68% | 33,028 | $3.9M | Add +0.5% |
| JPST JPMorgan Ultra-Short Income | 0.67% | 76,430 | $3.9M | Add +99.9% |
| HSY The Hershey Co. | 0.62% | 21,038 | $3.6M | Add +5.2% |
| BRO Brown & Brown Inc. | 0.58% | 27,088 | $3.4M | Reduce -1.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.55% | 14,316 | $3.2M | Reduce -2.3% |
| DG Dollar General Corp. | 0.55% | 35,944 | $3.2M | Add +53.1% |
| MCD McDonald's Corp. | 0.53% | 9,864 | $3.1M | Reduce -9.6% |
| FPE FT-Preferred Secur & Inc. ETF | 0.52% | 172,657 | $3.0M | Reduce -14.0% |
| T AT&T Inc. | 0.51% | 105,271 | $3.0M | Reduce -3.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.51% | 5,303 | $3.0M | Reduce -10.9% |
| LLY Eli Lilly & Co. | 0.51% | 3,565 | $2.9M | Add +2.5% |
| CSCO Cisco Systems Inc. | 0.49% | 46,291 | $2.9M | Reduce -1.6% |
| GOOG Alphabet Inc. Class C | 0.49% | 18,044 | $2.8M | Add +3.5% |
| TER Teradyne Inc. | 0.48% | 33,987 | $2.8M | Reduce -23.0% |
| WMT Walmart Inc. | 0.48% | 31,966 | $2.8M | Add +1.0% |
| VZ Verizon Communications Inc. | 0.46% | 59,183 | $2.7M | Reduce -8.2% |
| VEA Vanguard Ftse Developed ETF | 0.45% | 51,772 | $2.6M | Add +49.6% |
| CVX Chevron Corp. | 0.45% | 15,701 | $2.6M | Reduce -9.3% |
| TSLA Tesla Inc. | 0.44% | 9,817 | $2.5M | Add +4.1% |
| IWD iShares Russell 1000 Value E | 0.43% | 13,353 | $2.5M | Reduce -0.3% |
| PAYX Paychex Inc. | 0.43% | 16,182 | $2.5M | Reduce -3.0% |
| SBUX Starbucks Corp. | 0.43% | 25,421 | $2.5M | Reduce -44.9% |
| VCIT Vanguard Int-Term Corporate | 0.41% | 29,043 | $2.4M | Add +0.5% |
| OMC Omnicom Group | 0.39% | 27,531 | $2.3M | Add +0.2% |
| MDLZ Mondelez International Inc. Class A | 0.37% | 31,611 | $2.1M | Add +10.5% |
| V Visa Inc. Class A | 0.37% | 6,063 | $2.1M | Add +3.4% |
| ABBV Abbvie Inc. | 0.36% | 9,940 | $2.1M | Add +0.8% |
| EFV iShares MSCI Eafe Value ETF | 0.36% | 34,988 | $2.1M | Reduce -5.3% |
| MS Morgan Stanley | 0.35% | 17,129 | $2.0M | Add +2.2% |
| ADP Automatic Data Processing | 0.34% | 6,371 | $1.9M | Reduce -9.6% |
| CCI Crown Castle Inc. | 0.33% | 18,318 | $1.9M | Add +84.8% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.33% | 37,105 | $1.9M | Add +48.3% |
| GLW Corning Inc. | 0.33% | 41,196 | $1.9M | Add +2.1% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.32% | 7,205 | $1.9M | Add +60.6% |
| AGG iShares Core U.S. Aggregate | 0.31% | 18,106 | $1.8M | Reduce -38.6% |
| WM Waste Management Inc. | 0.30% | 7,539 | $1.7M | Reduce -0.4% |
| KO The Coca-Cola Co. | 0.30% | 24,061 | $1.7M | Reduce -1.8% |
| APD Air Products & Chemicals Inc. | 0.30% | 5,819 | $1.7M | Add +5.4% |
| VIG Vanguard Dividend Apprec ETF | 0.29% | 8,737 | $1.7M | Reduce -2.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.29% | 21,215 | $1.7M | Add +1.9% |
| AMGN Amgen Inc. | 0.29% | 5,330 | $1.7M | Add +3.7% |
| Abbott Laboratories | 0.28% | 12,409 | $1.6M | Reduce -1.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.28% | 20,667 | $1.6M | Add +1.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.28% | 2 | $1.6M | No change |
| SCHD Schwab US DVD Equity ETF | 0.27% | 56,588 | $1.6M | Add +10.1% |
| UNH Unitedhealth Group Inc. | 0.26% | 2,875 | $1.5M | Reduce -2.3% |
| GIS General Mills Inc. | 0.26% | 25,169 | $1.5M | Add +1.1% |
| INTU Intuit Inc. | 0.26% | 2,410 | $1.5M | Add +0.5% |
| MCO Moody's Corp. | 0.25% | 3,118 | $1.5M | Add +0.5% |
| HUBB Hubbell Inc. | 0.25% | 4,343 | $1.4M | Reduce -1.3% |
| MRSH Marsh & McLennan Cos | 0.24% | 5,749 | $1.4M | Add +0.9% |
| EMR Emerson Electric Co. | 0.24% | 12,580 | $1.4M | Reduce -5.0% |
| EFG iShares MSCI Eafe Growth ETF | 0.24% | 13,749 | $1.4M | Add +0.1% |
| ISRG Intuitive Surgical Inc. | 0.23% | 2,724 | $1.3M | Add +0.4% |
| BLK BlackRock Finance Inc. | 0.23% | 1,394 | $1.3M | Reduce -0.1% |
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -4.6% | 4.84% | −0.82 |
| TER Teradyne Inc. | Reduce -23.0% | 0.48% | −0.47 |
| AVGO Broadcom Inc. | Reduce -14.7% | 0.72% | −0.44 |
| SBUX Starbucks Corp. | Reduce -44.9% | 0.43% | −0.29 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.20 |
| AXP American Express Co. | Reduce -1.1% | 1.79% | −0.19 |
| ACN Accenture PLC Class A | Reduce -0.6% | 1.51% | −0.19 |
| AGG iShares Core U.S. Aggregate | Reduce -38.6% | 0.31% | −0.18 |
| HYD Vaneck High Yield Muni ETF | Reduce -15.6% | 0.78% | −0.15 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -10.9% | 0.51% | −0.08 |
| FPE FT-Preferred Secur & Inc. ETF | Reduce -14.0% | 0.52% | −0.08 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -31.2% | 0.19% | −0.08 |
| LPLA LPL Financial Holdings Inc. | Sold out | 0.00% | −0.08 |
| VRP Invesco Variable Rate Prefer | Reduce -51.9% | 0.07% | −0.08 |
| HUBB Hubbell Inc. | Reduce -1.3% | 0.25% | −0.07 |
| USFD US Foods Holding Corp. | Sold out | 0.00% | −0.06 |
| PRVA Privia Health Group Inc. | Sold out | 0.00% | −0.06 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -2.3% | 0.55% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -1.1% | 1.09% | −0.05 |
| NTRS Northern Trust Corp. | Sold out | 0.00% | −0.05 |
| POST Post Holdings Inc. | Reduce -56.4% | 0.04% | −0.04 |
| EMR Emerson Electric Co. | Reduce -5.0% | 0.24% | −0.04 |
| ENR Energizer Holdings Inc. | Sold out | 0.00% | −0.04 |
| NOBL Proshares S&P 500 Dividend A | Sold out | 0.00% | −0.04 |
| WY Weyerhaeuser Co. | Sold out | 0.00% | −0.04 |
| LW Lamb Weston Holdings Inc. | Sold out | 0.00% | −0.04 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.04 |
| COR Cencora Inc. | Sold out | 0.00% | −0.04 |
| DFUS Dimensional US Eq MKT ETF | Sold out | 0.00% | −0.04 |
| PNC PNC Financial Services Group | Sold out | 0.00% | −0.04 |
| WLY Wiley (john) & Sons Class A | Sold out | 0.00% | −0.04 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.03 |
| AMG Affiliated Managers Group | Reduce -44.0% | 0.04% | −0.03 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -31.9% | 0.05% | −0.02 |
| COF Capital One Financial Corp. | Reduce -15.0% | 0.14% | −0.02 |
| CLVT Clarivate PLC | Reduce -15.9% | 0.04% | −0.02 |
| IWF iShares Russell 1000 Growth | Reduce -8.1% | 0.10% | −0.02 |
| FDX FedEx Corp. | Reduce -5.9% | 0.09% | −0.02 |
| CLX Clorox Company | Reduce -0.9% | 0.18% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.1% | 0.22% | −0.02 |
| BLK BlackRock Finance Inc. | Reduce -0.1% | 0.23% | −0.02 |
| ADP Automatic Data Processing | Reduce -9.6% | 0.34% | −0.02 |
| BKNG Booking Holdings Inc. | Reduce -1.6% | 0.19% | −0.02 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -8.9% | 0.21% | −0.02 |
| PEP Pepsico Inc. | Reduce -0.9% | 1.09% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -5.7% | 0.71% | −0.01 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -31.7% | 0.04% | −0.01 |
| HON Honeywell International Inc. | Reduce -0.3% | 0.21% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -6.8% | 0.04% | −0.01 |
| CARR Carrier Global Corp. | Reduce -15.6% | 0.04% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| FNDA Schwab Fndmntl US SM Co. ETF | Add +26.3% | 5.89% | +0.88 |
| BERKSHIRE HATHAWAY INC | Add +0.8% | 2.26% | +0.37 |
| JPST JPMorgan Ultra-Short Income | Add +99.9% | 0.67% | +0.34 |
| JNJ Johnson & Johnson | Add +1.5% | 1.78% | +0.27 |
| DG Dollar General Corp. | Add +53.1% | 0.55% | +0.24 |
| MDT Medtronic Inc | Add +6.0% | 1.21% | +0.20 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +2.3% | 0.89% | +0.19 |
| VOO Vanguard S&P 500 ETF | Add +39.0% | 0.70% | +0.18 |
| CCI Crown Castle Inc. | Add +84.8% | 0.33% | +0.18 |
| VEA Vanguard Ftse Developed ETF | Add +49.6% | 0.45% | +0.17 |
| SCHW Schwab (charles) Corp. | Add +3.1% | 1.80% | +0.17 |
| KLAC KLA Corp. | Add +2.6% | 1.32% | +0.14 |
| FISV Fiserv Inc. | Add +1.3% | 1.51% | +0.14 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +8.4% | 1.54% | +0.13 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +60.6% | 0.32% | +0.12 |
| ADBE Adobe Inc. | Add +29.0% | 1.05% | +0.12 |
| MA Mastercard Inc. Class A | Add +1.8% | 1.70% | +0.11 |
| JMST JPM Ultra-Short Muni Income | Add +48.3% | 0.33% | +0.11 |
| CTVA Corteva Inc. | Add +4.8% | 0.74% | +0.11 |
| DON Wisdomtree US Midcap Dividen | New | 0.10% | +0.10 |
| MDLZ Mondelez International Inc. Class A | Add +10.5% | 0.37% | +0.08 |
| QCOM Qualcomm Inc. | Add +6.0% | 1.14% | +0.07 |
| XOM Exxon Mobil Corp. | Add +0.5% | 0.68% | +0.07 |
| CMCSA Comcast Corp. Class A | Add +10.0% | 0.85% | +0.07 |
| ABBV Abbvie Inc. | Add +0.8% | 0.36% | +0.06 |
| AMGN Amgen Inc. | Add +3.7% | 0.29% | +0.06 |
| VWO Vanguard Ftse Emerging Marke | Add +74.7% | 0.13% | +0.06 |
| LH Laboratory CRP of Amer Hldgs | Add +4.1% | 0.86% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +1.6% | 1.14% | +0.05 |
| RFG Invesco S&P Midcap 400 Pure | New | 0.05% | +0.05 |
| V Visa Inc. Class A | Add +3.4% | 0.37% | +0.05 |
| LLY Eli Lilly & Co. | Add +2.5% | 0.51% | +0.05 |
| ZBH Zimmer Biomet Holdings Inc. | New | 0.04% | +0.04 |
| HSY The Hershey Co. | Add +5.2% | 0.62% | +0.04 |
| DGRO iShares Core Dividend Growth | New | 0.04% | +0.04 |
| AJG Arthur J Gallagher & Co. | New | 0.04% | +0.04 |
| ESS Essex Property Trust Inc. | New | 0.04% | +0.04 |
| MKL Markel Group Inc. | New | 0.04% | +0.04 |
| NFLX Netflix Inc. | New | 0.04% | +0.04 |
| ORLY O'reilly Automotive Inc. | New | 0.04% | +0.04 |
| VTI VG Morningstar TS MKT ETF-US | Add +30.0% | 0.18% | +0.04 |
| MRSH Marsh & McLennan Cos | Add +0.9% | 0.24% | +0.04 |
| SCHD Schwab US DVD Equity ETF | Add +10.1% | 0.27% | +0.03 |
| EFA iShares MSCI Eafe ETF | Add +11.1% | 0.17% | +0.03 |
| DOX Amdocs Ltd. | Add +11.7% | 0.17% | +0.03 |
| APD Air Products & Chemicals Inc. | Add +5.4% | 0.30% | +0.02 |
| INTC Intel Corp. | Add +22.8% | 0.08% | +0.02 |
| PM Philip Morris International | Add +6.7% | 0.07% | +0.02 |
| DE Deere & Co. | Add +1.6% | 0.16% | +0.02 |
| CI The Cigna Group | Add +1.3% | 0.11% | +0.02 |
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 |