Ironwood Investment Counsel, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Ironwood Investment Counsel, LLC reported 256 stock positions worth $647.2 million. Its top holding was Microsoft (MSFT) at 6.9% of the portfolio, followed by Schwab Fndmntl US SM Co. ETF (FNDA, 5.2%) and Apple (AAPL, 4.1%). Compared with Q1 2025, it opened 30 new positions, sold out of 14, added to 105 and reduced 90. The biggest buy was S&P Global (SPGI, shares +4608%) and the biggest sale an exit from Amazon.com (AMZN).
- Most Recent 13F
- Q2 2026
- Location
- SCOTTSDALE, AZ
- CIK
- 0001330463
- Portfolio Value
- $647.2M (Q2 2025)
- SEC Filing
- 0001330463-25-000004 ↗ filed Aug 8, 2025
Holdings Value
Holdings 256 stocks · $647.2M
| MSFT Microsoft Corp. | 6.94% | 90,351 | $44.9M | Reduce -0.7% |
| FNDA Schwab Fndmntl US SM Co. ETF | 5.22% | 1,179,447 | $33.8M | Reduce -5.3% |
| AAPL Apple Inc. | 4.09% | 128,987 | $26.5M | Add +2.2% |
| XOM Exxon Mobil Corp. | 2.82% | 116,461 | $18.2M | Add +252.6% |
| SPGI S&P Global Inc. | 2.62% | 74,245 | $17.0M | Add +4608.0% |
| MA Mastercard Inc. Class A | 2.09% | 36,446 | $13.6M | Add +103.2% |
| AXP American Express Co. | 1.92% | 38,947 | $12.4M | Add +0.9% |
| BERKSHIRE HATHAWAY INC | 1.87% | 24,913 | $12.1M | Add +1.4% |
| SCHW Schwab (charles) Corp. | 1.85% | 131,542 | $12.0M | Reduce -1.4% |
| META Meta Platforms Inc. Class A | 1.75% | 15,313 | $11.3M | Add +7.9% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 1.72% | 453,479 | $11.1M | Add +20.3% |
| KLAC KLA Corp. | 1.55% | 11,165 | $10.0M | Reduce -0.7% |
| JNJ Johnson & Johnson | 1.50% | 63,616 | $9.7M | Add +2.4% |
| T AT&T Inc. | 1.48% | 119,460 | $9.6M | Add +13.5% |
| IVV iShares Core S&P 500 ETF | 1.36% | 14,141 | $8.8M | Add +25.7% |
| JPM JPMorgan Chase & Co. | 1.34% | 29,993 | $8.7M | Add +11.6% |
| SYY Sysco Corp. | 1.34% | 114,667 | $8.7M | Add +0.3% |
| ACN Accenture PLC Class A | 1.30% | 28,067 | $8.4M | Reduce -0.1% |
| CMI Cummins Inc. | 1.22% | 24,184 | $7.9M | Add +5.3% |
| FISV Fiserv Inc. | 1.20% | 45,207 | $7.8M | Add +14.1% |
| QCOM Qualcomm Inc. | 1.18% | 47,754 | $7.6M | Add +11.2% |
| AVGO Broadcom Inc. | 1.17% | 27,375 | $7.5M | Add +10.3% |
| LMT Lockheed Martin Corp. | 1.16% | 16,277 | $7.5M | Add +6.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.16% | 25,395 | $7.5M | Reduce -2.7% |
| MDT Medtronic Inc | 1.08% | 80,470 | $7.0M | Add +3.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.08% | 56,422 | $7.0M | Add +5.3% |
| USB US Bancorp | 1.06% | 151,806 | $6.9M | Add +2.9% |
| HD Home Depot Inc. | 1.03% | 18,211 | $6.7M | Add +8.9% |
| LH Laboratory CRP of Amer Hldgs filed as Labcorp Holdings Inc. | 0.93% | 22,889 | $6.0M | Add +6.5% |
| NVDA Nvidia Corp. | 0.90% | 36,881 | $5.8M | Reduce -2.0% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.90% | 84,502 | $5.8M | Add +1.2% |
| LOW Lowe's Cos Inc. | 0.88% | 25,630 | $5.7M | Add +8.3% |
| PEP Pepsico Inc. | 0.88% | 42,905 | $5.7M | Add +2.2% |
| UPS United Parcel Service Class B | 0.86% | 55,387 | $5.6M | Add +18.4% |
| CMCSA Comcast Corp. Class A | 0.86% | 156,611 | $5.6M | Add +17.3% |
| CTVA Corteva Inc. | 0.86% | 74,826 | $5.6M | Add +10.4% |
| CAH Cardinal Health Inc. | 0.82% | 31,665 | $5.3M | Reduce -8.8% |
| MCK McKesson Corp. | 0.82% | 11,616 | $5.3M | Add +52.5% |
| MRK Merck & Co Inc | 0.81% | 65,906 | $5.2M | Reduce -11.7% |
| WDAY Workday Inc. Class A | 0.80% | 21,619 | $5.2M | Add +12.2% |
| VOO Vanguard S&P 500 ETF | 0.73% | 9,749 | $4.7M | Add +22.9% |
| PG The Procter & Gamble Co. | 0.69% | 28,063 | $4.5M | Reduce -1.0% |
| OGE Oge Energy Corp. | 0.69% | 100,289 | $4.5M | No change |
| DG Dollar General Corp. | 0.68% | 38,688 | $4.4M | Add +7.6% |
| COST Costco Wholesale Corp. | 0.67% | 4,387 | $4.3M | Add +0.7% |
| HYD Vaneck High Yield Muni ETF | 0.66% | 85,219 | $4.3M | Reduce -3.0% |
| AMGN Amgen Inc. | 0.60% | 13,827 | $3.9M | Add +159.4% |
| HSY The Hershey Co. | 0.56% | 21,760 | $3.6M | Add +3.4% |
| TER Teradyne Inc. | 0.55% | 39,680 | $3.6M | Add +16.8% |
| CSCO Cisco Systems Inc. | 0.55% | 48,167 | $3.5M | Add +4.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.54% | 5,659 | $3.5M | Add +6.7% |
| TSLA Tesla Inc. | 0.53% | 10,829 | $3.4M | Add +10.3% |
| FPE FT-Preferred Secur & Inc. ETF | 0.53% | 190,986 | $3.4M | Add +10.6% |
| WMT Walmart Inc. | 0.52% | 34,380 | $3.4M | Add +7.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.52% | 14,163 | $3.4M | Reduce -1.1% |
| BRO Brown & Brown Inc. | 0.46% | 27,063 | $3.0M | Reduce -0.1% |
| VEA Vanguard Ftse Developed ETF | 0.45% | 50,664 | $2.9M | Reduce -2.1% |
| MCD McDonald's Corp. | 0.44% | 9,806 | $2.9M | Reduce -0.6% |
| EFV iShares MSCI Eafe Value ETF | 0.44% | 42,502 | $2.9M | Add +21.5% |
| V Visa Inc. Class A | 0.44% | 8,020 | $2.8M | Add +32.3% |
| LLY Eli Lilly & Co. | 0.43% | 3,542 | $2.8M | Reduce -0.7% |
| VZ Verizon Communications Inc. | 0.43% | 63,702 | $2.8M | Add +7.6% |
| IWD iShares Russell 1000 Value E | 0.40% | 13,353 | $2.6M | No change |
| CCI Crown Castle Inc. | 0.38% | 24,055 | $2.5M | Add +31.3% |
| VCIT Vanguard Int-Term Corporate | 0.38% | 29,531 | $2.4M | Add +1.7% |
| MS Morgan Stanley | 0.37% | 17,185 | $2.4M | Add +0.3% |
| CVX Chevron Corp. | 0.36% | 16,246 | $2.3M | Add +3.5% |
| PAYX Paychex Inc. | 0.36% | 15,952 | $2.3M | Reduce -1.4% |
| JPST JPMorgan Ultra-Short Income | 0.35% | 44,272 | $2.2M | Reduce -42.1% |
| ABBV Abbvie Inc. | 0.34% | 11,970 | $2.2M | Add +20.4% |
| GLW Corning Inc. | 0.33% | 40,984 | $2.2M | Reduce -0.5% |
| MDLZ Mondelez International Inc. Class A | 0.32% | 31,094 | $2.1M | Reduce -1.6% |
| Abbott Laboratories | 0.31% | 14,708 | $2.0M | Add +18.5% |
| CHRW C.H. Robinson Worldwide Inc. | 0.31% | 9,227 | $2.0M | Add +177.2% |
| OMC Omnicom Group | 0.31% | 27,616 | $2.0M | Add +0.3% |
| ADP Automatic Data Processing | 0.30% | 6,306 | $1.9M | Reduce -1.0% |
| SBUX Starbucks Corp. | 0.29% | 20,655 | $1.9M | Reduce -18.8% |
| INTU Intuit Inc. | 0.29% | 2,394 | $1.9M | Reduce -0.7% |
| AGG iShares Core U.S. Aggregate | 0.28% | 18,596 | $1.8M | Add +2.7% |
| HUBB Hubbell Inc. | 0.27% | 4,343 | $1.8M | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.27% | 6,263 | $1.8M | Reduce -13.1% |
| WTW Willis Towers Watson PLC | 0.27% | 13,911 | $1.8M | Add +455.8% |
| WM Waste Management Inc. | 0.26% | 7,386 | $1.7M | Reduce -2.0% |
| KO The Coca-Cola Co. | 0.26% | 23,822 | $1.7M | Reduce -1.0% |
| EFG iShares MSCI Eafe Growth ETF | 0.25% | 14,654 | $1.6M | Add +6.6% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.25% | 20,040 | $1.6M | Reduce -5.5% |
| EMR Emerson Electric Co. | 0.25% | 12,101 | $1.6M | Reduce -3.8% |
| MCO Moody's Corp. | 0.24% | 3,108 | $1.6M | Reduce -0.3% |
| VIG Vanguard Dividend Apprec ETF | 0.24% | 7,586 | $1.6M | Reduce -13.2% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.24% | 30,161 | $1.5M | Reduce -18.7% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.23% | 19,111 | $1.5M | Reduce -7.5% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.23% | 20,902 | $1.5M | New |
| ETN Eaton Corp. PLC | 0.23% | 4,152 | $1.5M | Add +46.1% |
| BLK BlackRock Finance Inc. | 0.23% | 1,404 | $1.5M | Add +0.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.23% | 11,887 | $1.5M | Add +51.1% |
| ISRG Intuitive Surgical Inc. | 0.23% | 2,697 | $1.5M | Reduce -1.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.23% | 2 | $1.5M | No change |
| COF Capital One Financial Corp. | 0.22% | 8,150 | $1.4M | Add +83.7% |
| BANF Bancfirst Corp. | 0.22% | 11,427 | $1.4M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 2,558 | $1.4M | Reduce -5.5% |
Portfolio Sells Q1 2025 → Q2 2025
| AMZN Amazon.com Inc. | Sold out | 0.00% | −2.22 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −2.04 |
| ADBE Adobe Inc. | Sold out | 0.00% | −1.05 |
| FNDA Schwab Fndmntl US SM Co. ETF | Reduce -5.3% | 5.22% | −0.67 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.49 |
| MRK Merck & Co Inc | Reduce -11.7% | 0.81% | −0.35 |
| JPST JPMorgan Ultra-Short Income | Reduce -42.1% | 0.35% | −0.32 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.30 |
| ACN Accenture PLC Class A | Reduce -0.1% | 1.30% | −0.22 |
| DOX Amdocs Ltd. | Sold out | 0.00% | −0.17 |
| PG The Procter & Gamble Co. | Reduce -1.0% | 0.69% | −0.14 |
| SBUX Starbucks Corp. | Reduce -18.8% | 0.29% | −0.14 |
| SCHD Schwab US DVD Equity ETF | Reduce -34.6% | 0.15% | −0.12 |
| BRO Brown & Brown Inc. | Reduce -0.1% | 0.46% | −0.12 |
| HYD Vaneck High Yield Muni ETF | Reduce -3.0% | 0.66% | −0.12 |
| MCD McDonald's Corp. | Reduce -0.6% | 0.44% | −0.09 |
| JMST JPM Ultra-Short Muni Income | Reduce -18.7% | 0.24% | −0.09 |
| LLY Eli Lilly & Co. | Reduce -0.7% | 0.43% | −0.08 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.07 |
| PAYX Paychex Inc. | Reduce -1.4% | 0.36% | −0.07 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -26.6% | 0.14% | −0.07 |
| CLX Clorox Company | Reduce -7.7% | 0.12% | −0.06 |
| VIG Vanguard Dividend Apprec ETF | Reduce -13.2% | 0.24% | −0.05 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -13.1% | 0.27% | −0.05 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.05 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -7.5% | 0.23% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.6% | 0.32% | −0.05 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.04 |
| WM Waste Management Inc. | Reduce -2.0% | 0.26% | −0.04 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -5.5% | 0.25% | −0.04 |
| KO The Coca-Cola Co. | Reduce -1.0% | 0.26% | −0.04 |
| ESS Essex Property Trust Inc. | Sold out | 0.00% | −0.04 |
| GFL GFL Environmental Inc.-Sub VT | Sold out | 0.00% | −0.04 |
| AMG Affiliated Managers Group | Sold out | 0.00% | −0.04 |
| ADP Automatic Data Processing | Reduce -1.0% | 0.30% | −0.04 |
| FICO Fair Isaac Corp. | Sold out | 0.00% | −0.03 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -8.6% | 0.16% | −0.03 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -0.2% | 0.15% | −0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.1% | 0.52% | −0.03 |
| INTC Intel Corp. | Reduce -30.9% | 0.05% | −0.03 |
| TAP Molson Coors Beverage Co. Class B | Reduce -7.5% | 0.05% | −0.03 |
| VIGI Vanguard Int Div App Indx FD | Reduce -8.6% | 0.18% | −0.02 |
| VNQ Vanguard Real Estate ETF | Reduce -8.9% | 0.08% | −0.02 |
| PNW Pinnacle West Capital | Reduce -0.1% | 0.10% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -16.1% | 0.07% | −0.02 |
| TGT Target Corp. | Reduce -12.5% | 0.05% | −0.02 |
| SHW The Sherwin-Williams Co. | Reduce -5.2% | 0.08% | −0.02 |
| VRP Invesco Variable Rate Prefer | Reduce -13.6% | 0.06% | −0.02 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -22.2% | 0.03% | −0.02 |
| ITW Illinois Tool Works | Reduce -1.0% | 0.11% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| SPGI S&P Global Inc. | Add +4608.0% | 2.62% | +2.48 |
| XOM Exxon Mobil Corp. | Add +252.6% | 2.82% | +2.14 |
| T AT&T Inc. | Add +13.5% | 1.48% | +0.96 |
| AVGO Broadcom Inc. | Add +10.3% | 1.17% | +0.45 |
| MA Mastercard Inc. Class A | Add +103.2% | 2.09% | +0.40 |
| META Meta Platforms Inc. Class A | Add +7.9% | 1.75% | +0.33 |
| AMGN Amgen Inc. | Add +159.4% | 0.60% | +0.31 |
| IVV iShares Core S&P 500 ETF | Add +25.7% | 1.36% | +0.26 |
| CHRW C.H. Robinson Worldwide Inc. | Add +177.2% | 0.31% | +0.25 |
| TTD Trade Desk Inc./the Class A | New | 0.23% | +0.23 |
| JPM JPMorgan Chase & Co. | Add +11.6% | 1.34% | +0.20 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +20.3% | 1.72% | +0.18 |
| ES Eversource Energy | New | 0.18% | +0.18 |
| DIS The Walt Disney Co. | Add +5.3% | 1.08% | +0.17 |
| DG Dollar General Corp. | Add +7.6% | 0.68% | +0.14 |
| AXP American Express Co. | Add +0.9% | 1.92% | +0.13 |
| CTVA Corteva Inc. | Add +10.4% | 0.86% | +0.13 |
| WTW Willis Towers Watson PLC | Add +455.8% | 0.27% | +0.12 |
| TT Trane Technologies PLC | New | 0.11% | +0.11 |
| IWM iShares Russell 2000 ETF | Add +182.8% | 0.17% | +0.11 |
| WMB Williams Cos Inc. | New | 0.10% | +0.10 |
| ETN Eaton Corp. PLC | Add +46.1% | 0.23% | +0.10 |
| TSLA Tesla Inc. | Add +10.3% | 0.53% | +0.09 |
| EFV iShares MSCI Eafe Value ETF | Add +21.5% | 0.44% | +0.09 |
| COF Capital One Financial Corp. | Add +83.7% | 0.22% | +0.08 |
| ICE Intercontinental Exchange Inc. | New | 0.08% | +0.08 |
| OKE Oneok Inc. | New | 0.08% | +0.08 |
| V Visa Inc. Class A | Add +32.3% | 0.44% | +0.07 |
| MSI Motorola Solutions Inc. | New | 0.07% | +0.07 |
| EPD Enterprise Products Partners | New | 0.07% | +0.07 |
| TER Teradyne Inc. | Add +16.8% | 0.55% | +0.07 |
| LH Laboratory CRP of Amer Hldgs | Add +6.5% | 0.93% | +0.06 |
| ORCL Oracle Corp. | Add +45.3% | 0.13% | +0.06 |
| TJX TJX Companies Inc. | Add +51.1% | 0.23% | +0.06 |
| BBJP JPMorgan Betabuilders Japan | New | 0.06% | +0.06 |
| PH Parker Hannifin Corp. | New | 0.06% | +0.06 |
| FXE Invesco Currencyshares Euro | New | 0.06% | +0.06 |
| CSCO Cisco Systems Inc. | Add +4.0% | 0.55% | +0.05 |
| MPC Marathon Petroleum Corp. | New | 0.05% | +0.05 |
| TRGP Targa Resources Corp. | New | 0.05% | +0.05 |
| CRM Salesforce Inc. | Add +47.5% | 0.21% | +0.05 |
| NXPI NXP Semiconductors NV | New | 0.05% | +0.05 |
| CCI Crown Castle Inc. | Add +31.3% | 0.38% | +0.05 |
| HWM Howmet Aerospace Inc. | New | 0.04% | +0.04 |
| PLTR Palantir Technologies Inc. Class A | Add +24.9% | 0.09% | +0.04 |
| LIN Linde PLC | New | 0.04% | +0.04 |
| ROK Rockwell Automation Inc. | New | 0.04% | +0.04 |
| IYW iShares Ustechnology ETF | New | 0.04% | +0.04 |
| QCOM Qualcomm Inc. | Add +11.2% | 1.18% | +0.04 |
| STE Steris PLC | New | 0.04% | +0.04 |
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 |