Isthmus Partners, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Isthmus Partners, LLC reported 214 stock positions worth $900.5 million. Its top holding was Apple (AAPL) at 2.8% of the portfolio, followed by Alphabet Class A (GOOGL, 2.8%) and Microsoft (MSFT, 2.5%). Compared with Q3 2025, it opened 46 new positions, sold out of 8, added to 70 and reduced 64. The biggest buy was Visa Class A (V, shares +2615%) and the biggest sale Ulta Beauty (ULTA, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- MADISON, WI
- CIK
- 0001639666
- Portfolio Value
- $900.5M (Q4 2025)
- SEC Filing
- 0001104659-26-010761 ↗ filed Feb 5, 2026
Holdings Value
Holdings 214 stocks · $900.5M
| AAPL Apple Inc. | 2.84% | 94,073 | $25.6M | Reduce -3.2% |
| GOOGL Alphabet Inc. Class A | 2.80% | 80,501 | $25.2M | Reduce -11.2% |
| MSFT Microsoft Corp. | 2.51% | 46,724 | $22.6M | Reduce -0.7% |
| CHRW C.H. Robinson Worldwide Inc. | 2.28% | 127,562 | $20.5M | Reduce -5.7% |
| JNJ Johnson & Johnson | 2.25% | 97,957 | $20.3M | Reduce -1.3% |
| AVGO Broadcom Inc. | 2.22% | 57,829 | $20.0M | Reduce -3.6% |
| COR Cencora Inc. | 2.13% | 56,787 | $19.2M | Reduce -5.3% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 2.11% | 163,819 | $19.0M | Reduce -2.7% |
| AMAT Applied Materials Inc. | 2.05% | 71,954 | $18.5M | Reduce -2.8% |
| HCA HCA Healthcare Inc. | 1.87% | 36,069 | $16.8M | Reduce -1.2% |
| TT Trane Technologies PLC | 1.85% | 42,869 | $16.7M | Reduce -0.6% |
| AMCR Amcor PLC | 1.79% | 1,933,404 | $16.1M | Reduce -3.5% |
| V Visa Inc. Class A | 1.76% | 45,208 | $15.9M | Add +2615.2% |
| ROK Rockwell Automation Inc. | 1.75% | 40,574 | $15.8M | Reduce -2.2% |
| CBOE Cboe Global Markets Inc. | 1.71% | 61,367 | $15.4M | Reduce -0.8% |
| PNC PNC Financial Services Group | 1.70% | 73,251 | $15.3M | Reduce -0.9% |
| AZO AutoZone Inc. | 1.66% | 4,419 | $15.0M | New |
| ALSN Allison Transmission Holding | 1.64% | 151,215 | $14.8M | Reduce -0.3% |
| ABBV Abbvie Inc. | 1.64% | 64,740 | $14.8M | Reduce -0.5% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.63% | 208,728 | $14.6M | Reduce -1.2% |
| EMR Emerson Electric Co. | 1.62% | 110,195 | $14.6M | Reduce -0.7% |
| GWW WW Grainger Inc. | 1.59% | 14,174 | $14.3M | Reduce -1.3% |
| FITB Fifth Third Bancorp | 1.57% | 302,854 | $14.2M | Reduce -0.9% |
| PG The Procter & Gamble Co. | 1.57% | 98,499 | $14.1M | Reduce -0.1% |
| HSY The Hershey Co. | 1.46% | 72,381 | $13.2M | Reduce -0.2% |
| MCD McDonald's Corp. | 1.42% | 41,827 | $12.8M | Reduce -0.3% |
| UPS United Parcel Service Class B | 1.35% | 122,374 | $12.1M | Reduce -0.5% |
| LMT Lockheed Martin Corp. | 1.34% | 25,019 | $12.1M | Add +0.1% |
| SYY Sysco Corp. | 1.33% | 162,159 | $11.9M | Add +0.4% |
| LOW Lowe's Cos Inc. | 1.30% | 48,646 | $11.7M | Reduce -0.4% |
| DXCM Dexcom Inc. | 1.30% | 176,453 | $11.7M | Add +5.2% |
| CL Colgate-Palmolive Co. | 1.23% | 140,347 | $11.1M | Add +0.7% |
| PSA Public Storage | 1.23% | 42,589 | $11.1M | Add +0.1% |
| PYPL PayPal Holdings Inc. | 1.23% | 189,056 | $11.0M | Reduce -3.7% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.18% | 277,812 | $10.7M | Add +2.1% |
| CTRA Coterra Energy Inc. | 1.16% | 397,854 | $10.5M | Add +0.6% |
| ZBRA Zebra Technologies Corp. Class A | 1.15% | 42,629 | $10.4M | Add +0.3% |
| BAH Booz Allen Hamilton Holdings | 1.10% | 117,347 | $9.9M | Add +22.4% |
| ACN Accenture PLC Class A | 1.07% | 35,882 | $9.6M | Add +1.2% |
| IT Gartner Inc. | 1.04% | 37,137 | $9.4M | Add +4.5% |
| ZTS Zoetis Inc. | 1.04% | 74,119 | $9.3M | Add +3.7% |
| LKQ LKQ Corp. | 1.00% | 296,794 | $9.0M | Add +0.9% |
| INTC Intel Corp. | 1.00% | 242,887 | $9.0M | Reduce -2.2% |
| KNSL Kinsale Capital Group Inc. | 0.90% | 20,736 | $8.1M | New |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.82% | 89,648 | $7.4M | Add +6.9% |
| PCAR Paccar Inc. | 0.77% | 63,623 | $7.0M | Reduce -0.5% |
| HAE Haemonetics Corp. | 0.60% | 67,610 | $5.4M | Add +9.6% |
| NSSC Napco Security Technologies | 0.56% | 121,917 | $5.1M | Reduce -0.3% |
| IRMD Iradimed Corp. | 0.55% | 50,611 | $4.9M | Reduce -13.8% |
| TILE Interface Inc. | 0.54% | 175,651 | $4.9M | Reduce -1.8% |
| MLI Mueller Industries Inc. | 0.54% | 42,065 | $4.8M | Reduce -13.6% |
| FTDR Frontdoor Inc. | 0.53% | 83,471 | $4.8M | Reduce -0.2% |
| LGND Ligand Pharmaceuticals | 0.52% | 24,708 | $4.7M | Reduce -16.2% |
| CRK Comstock Resources Inc. | 0.49% | 191,306 | $4.4M | Reduce -2.4% |
| NGVT Ingevity Corp. | 0.47% | 72,245 | $4.3M | Add +0.5% |
| CRAI Cra International Inc. | 0.47% | 21,103 | $4.2M | Reduce -0.1% |
| CNM Core & Main Inc. Class A | 0.47% | 81,307 | $4.2M | Add +0.1% |
| GSL Global Ship Lease Inc. Class A | 0.45% | 116,609 | $4.1M | Reduce -0.1% |
| PLXS Plexus Corp. | 0.44% | 27,072 | $4.0M | Add +0.1% |
| CCBG Capital City Bank Group Inc. | 0.42% | 88,691 | $3.8M | Add +0.2% |
| OPCH Option Care Health Inc. | 0.42% | 118,169 | $3.8M | Add +0.6% |
| TTEK Tetra Tech Inc. | 0.42% | 111,637 | $3.7M | Add +0.7% |
| AMAL Amalgamated Financial Corp. | 0.41% | 115,903 | $3.7M | Add +0.7% |
| SRCE 1ST Source Corp. | 0.41% | 58,456 | $3.7M | Add +0.2% |
| ALEX Alexander & Baldwin Inc. | 0.40% | 173,113 | $3.6M | Reduce -0.7% |
| RLI Rli Corp. | 0.39% | 54,599 | $3.5M | Add +2.3% |
| LOVE The Lovesac Co. | 0.38% | 234,302 | $3.5M | Add +68.9% |
| KFY Korn Ferry | 0.38% | 51,426 | $3.4M | Add +0.5% |
| BLFS Biolife Solutions Inc. | 0.37% | 138,393 | $3.3M | Add +0.5% |
| ACLS Axcelis Technologies Inc. | 0.37% | 41,480 | $3.3M | Reduce -1.3% |
| SFM Sprouts Farmers Market Inc. | 0.37% | 41,688 | $3.3M | Add +69.2% |
| DFIN Donnelley Financial Solution | 0.37% | 71,093 | $3.3M | Add +21.7% |
| IA Innovative Solutions & Supp | 0.36% | 170,995 | $3.2M | Reduce -9.9% |
| HCKT The Hackett Group Inc. | 0.36% | 164,398 | $3.2M | Add +3.9% |
| LMB Limbach Holdings Inc. | 0.35% | 40,618 | $3.2M | Add +17.5% |
| IIIN Insteel Industries Inc. | 0.35% | 99,640 | $3.2M | Add +1.4% |
| AMSF Amerisafe Inc. | 0.35% | 81,940 | $3.1M | Add +6.4% |
| ASO Academy Sports & Outdoors Inc. | 0.35% | 62,641 | $3.1M | Add +2.4% |
| EIG Employers Holdings Inc. | 0.34% | 71,700 | $3.1M | Add +3.6% |
| INDB Independent Bank Corp. | 0.34% | 41,970 | $3.1M | Add +1.0% |
| PZZA Papa John's Intl Inc. | 0.34% | 79,581 | $3.1M | Add +1.6% |
| APAM Artisan Partners Asset Ma -A | 0.34% | 75,044 | $3.1M | Add +2.7% |
| APLE Apple Hospitality REIT Inc. | 0.33% | 251,338 | $3.0M | Reduce -1.1% |
| NVEC Nve Corp. | 0.33% | 50,163 | $3.0M | Reduce -1.6% |
| MDXG Mimedx Group Inc. | 0.33% | 438,732 | $3.0M | Add +3.6% |
| CAT Caterpillar Inc. | 0.33% | 5,152 | $3.0M | New |
| APOG Apogee Enterprises Inc. | 0.31% | 77,872 | $2.8M | Add +2.9% |
| CXT Crane NXT Co. | 0.31% | 59,918 | $2.8M | Add +1.7% |
| MTX Minerals Technologies Inc. | 0.30% | 44,927 | $2.7M | Add +1.6% |
| JBI Janus International Group Inc. | 0.30% | 413,293 | $2.7M | Add +22.3% |
| PLAB Photronics Inc. | 0.30% | 84,120 | $2.7M | Add +221.6% |
| BFLY Butterfly Network Inc. | 0.29% | 689,222 | $2.6M | No change |
| LNTH Lantheus Holdings Inc. | 0.29% | 38,768 | $2.6M | Add +60.6% |
| REYN Reynolds Consumer Products I | 0.28% | 111,876 | $2.6M | Add +6.3% |
| GLD SPDR Gold Shares | 0.26% | 6,000 | $2.4M | No change |
| AVNT Avient Corp. | 0.26% | 75,660 | $2.4M | Add +1.3% |
| MLR Miller Industries Inc. | 0.26% | 63,060 | $2.4M | Add +1.4% |
| OII Oceaneering Intl Inc. | 0.26% | 97,629 | $2.3M | Add +0.7% |
| UTI Universal Technical Institut | 0.26% | 88,751 | $2.3M | New |
| ATKR Atkore Inc. | 0.25% | 36,232 | $2.3M | Add +4.0% |
Portfolio Sells Q3 2025 → Q4 2025
| ULTA Ulta Beauty Inc. | Reduce -98.7% | 0.03% | −1.85 |
| FLS Flowserve Corp. | Reduce -96.7% | 0.06% | −1.33 |
| AEIS Advanced Energy Industries | Sold out | 0.00% | −0.60 |
| MSFT Microsoft Corp. | Reduce -0.7% | 2.51% | −0.36 |
| PYPL PayPal Holdings Inc. | Reduce -3.7% | 1.23% | −0.32 |
| TT Trane Technologies PLC | Reduce -0.6% | 1.85% | −0.29 |
| WRB WR Berkley Corp. | Reduce -1.2% | 1.63% | −0.28 |
| UTMD Utah Medical Products Inc. | Reduce -75.9% | 0.06% | −0.23 |
| PG The Procter & Gamble Co. | Reduce -0.1% | 1.57% | −0.22 |
| OEC Orion SA | Sold out | 0.00% | −0.17 |
| LOW Lowe's Cos Inc. | Reduce -0.4% | 1.30% | −0.14 |
| AMCR Amcor PLC | Reduce -3.5% | 1.79% | −0.14 |
| HSY The Hershey Co. | Reduce -0.2% | 1.46% | −0.14 |
| ABBV Abbvie Inc. | Reduce -0.5% | 1.64% | −0.13 |
| FTDR Frontdoor Inc. | Reduce -0.2% | 0.53% | −0.13 |
| ACLS Axcelis Technologies Inc. | Reduce -1.3% | 0.37% | −0.11 |
| AVGO Broadcom Inc. | Reduce -3.6% | 2.22% | −0.11 |
| LGND Ligand Pharmaceuticals | Reduce -16.2% | 0.52% | −0.10 |
| EMR Emerson Electric Co. | Reduce -0.7% | 1.62% | −0.09 |
| MCD McDonald's Corp. | Reduce -0.3% | 1.42% | −0.08 |
| CBOE Cboe Global Markets Inc. | Reduce -0.8% | 1.71% | −0.08 |
| COR Cencora Inc. | Reduce -5.3% | 2.13% | −0.08 |
| AAPL Apple Inc. | Reduce -3.2% | 2.84% | −0.07 |
| TILE Interface Inc. | Reduce -1.8% | 0.54% | −0.06 |
| NVEC Nve Corp. | Reduce -1.6% | 0.33% | −0.06 |
| SCHB Schwab US Broad Market ETF | Sold out | 0.00% | −0.06 |
| IAU iShares Gold Trust | Sold out | 0.00% | −0.05 |
| NSSC Napco Security Technologies | Reduce -0.3% | 0.56% | −0.05 |
| ACWX iShares MSCI Acwi Ex US ETF | Sold out | 0.00% | −0.05 |
| META Meta Platforms Inc. Class A | Reduce -8.7% | 0.18% | −0.05 |
| LRN Stride Inc. | Sold out | 0.00% | −0.05 |
| PNC PNC Financial Services Group | Reduce -0.9% | 1.70% | −0.05 |
| BNY Bank of New York Mellon Corp. | Reduce -2.7% | 2.11% | −0.05 |
| CRAI Cra International Inc. | Reduce -0.1% | 0.47% | −0.05 |
| MLI Mueller Industries Inc. | Reduce -13.6% | 0.54% | −0.04 |
| FITB Fifth Third Bancorp | Reduce -0.9% | 1.57% | −0.03 |
| APLE Apple Hospitality REIT Inc. | Reduce -1.1% | 0.33% | −0.03 |
| GWW WW Grainger Inc. | Reduce -1.3% | 1.59% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -21.6% | 0.07% | −0.02 |
| HDSN Hudson Technologies Inc. | Reduce -1.8% | 0.04% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -42.2% | 0.03% | −0.02 |
| HSIC Henry Schein Inc. | Reduce -40.1% | 0.03% | −0.02 |
| WEC WEC Energy Group Inc. | Reduce -22.8% | 0.03% | −0.01 |
| HALO Halozyme Therapeutics Inc. | Reduce -1.8% | 0.05% | −0.01 |
| REXR Rexford Industrial Realty Inc. | Reduce -0.5% | 0.03% | −0.00 |
| SNA Snap-on Inc. | Reduce -1.9% | 0.05% | −0.00 |
| NVDA Nvidia Corp. | Reduce -3.3% | 0.04% | −0.00 |
| MATV Mativ Holdings Inc. | Reduce -4.3% | 0.05% | −0.00 |
| TDG Transdigm Group Inc. | Reduce -0.5% | 0.03% | −0.00 |
| FHN First Horizon Corp. | Reduce -1.6% | 0.06% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| V Visa Inc. Class A | Add +2615.2% | 1.76% | +1.69 |
| AZO AutoZone Inc. | New | 1.66% | +1.66 |
| KNSL Kinsale Capital Group Inc. | New | 0.90% | +0.90 |
| CAT Caterpillar Inc. | New | 0.33% | +0.33 |
| UTI Universal Technical Institut | New | 0.26% | +0.26 |
| HAE Haemonetics Corp. | Add +9.6% | 0.60% | +0.25 |
| PLAB Photronics Inc. | Add +221.6% | 0.30% | +0.23 |
| CLMB Climb Global Solutions Inc. | New | 0.20% | +0.20 |
| BOKF Bok Financial Corporation | New | 0.20% | +0.20 |
| GRBK Green Brick Partners Inc. | New | 0.18% | +0.18 |
| PAYO Payoneer Global Inc. | New | 0.18% | +0.18 |
| ERII Energy Recovery Inc. | New | 0.17% | +0.17 |
| CBT Cabot Corp. | New | 0.17% | +0.17 |
| AMZN Amazon.com Inc. | New | 0.16% | +0.16 |
| LNTH Lantheus Holdings Inc. | Add +60.6% | 0.29% | +0.14 |
| EVR Evercore Inc. Class A | New | 0.13% | +0.13 |
| XOM Exxon Mobil Corp. | New | 0.12% | +0.12 |
| LOVE The Lovesac Co. | Add +68.9% | 0.38% | +0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.11% | +0.11 |
| EBAY eBay Inc. | New | 0.09% | +0.09 |
| SLB SLB Ltd. | Add +2.1% | 1.18% | +0.08 |
| PPLT Abrdn Physical Platinum SHRS | New | 0.07% | +0.07 |
| GOOG Alphabet Inc. Class C | New | 0.06% | +0.06 |
| CTRA Coterra Energy Inc. | Add +0.6% | 1.16% | +0.06 |
| EXAS Exact Sciences Corp. | Add +0.7% | 0.14% | +0.06 |
| ETN Eaton Corp. PLC | New | 0.06% | +0.06 |
| CMC Commercial Metals Co. | New | 0.06% | +0.06 |
| ADP Automatic Data Processing | New | 0.06% | +0.06 |
| SFM Sprouts Farmers Market Inc. | Add +69.2% | 0.37% | +0.05 |
| FIS Fidelity National Info Serv | New | 0.05% | +0.05 |
| AYI Acuity Inc. | New | 0.05% | +0.05 |
| CVX Chevron Corp. | New | 0.05% | +0.05 |
| AGCO Agco Corp. | New | 0.05% | +0.05 |
| WMS Advanced Drainage Systems Inc. | New | 0.05% | +0.05 |
| BMO Bank of Montreal | New | 0.04% | +0.04 |
| AMAL Amalgamated Financial Corp. | Add +0.7% | 0.41% | +0.04 |
| AVY Avery Dennison Corp. | New | 0.04% | +0.04 |
| CMCO Columbus McKinnon Corp. | Add +8.9% | 0.23% | +0.04 |
| CBSH Commerce Bancshares Inc. | New | 0.04% | +0.04 |
| ECL Ecolab Inc. | New | 0.04% | +0.04 |
| DOX Amdocs Ltd. | New | 0.04% | +0.04 |
| ACN Accenture PLC Class A | Add +1.2% | 1.07% | +0.04 |
| ABT Abbott Laboratories | New | 0.04% | +0.04 |
| FCN Fti Consulting Inc. | New | 0.04% | +0.04 |
| BA The Boeing Co. | New | 0.04% | +0.04 |
| CROX Crocs Inc. | New | 0.03% | +0.03 |
| OPCH Option Care Health Inc. | Add +0.6% | 0.42% | +0.03 |
| LLY Eli Lilly & Co. | New | 0.03% | +0.03 |
| APH Amphenol Corp. Class A | New | 0.03% | +0.03 |
| FERG Ferguson Enterprises Inc. | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 226 | $1.0B | IEFA, AAPL, GOOGL, AMAT, AVGO |
| Q1 2026 | 217 | $953.4M | IEFA, AAPL, GOOGL, JNJ, V |
| Q4 2025 | 214 | $900.5M | AAPL, GOOGL, MSFT, CHRW, JNJ |
| Q3 2025 | 176 | $849.2M | AAPL, MSFT, GOOGL, AVGO, COR |
| Q2 2025 | 217 | $856.1M | MSFT, TT, COR, AAPL, AMCR |
| Q1 2025 | 211 | $798.8M | AAPL, AMCR, COR, AZO, MSFT |
| Q4 2024 | 217 | $822.7M | AAPL, MSFT, AMCR, BNY, PYPL |
| Q3 2024 | 195 | $841.7M | AAPL, TT, MSFT, PYPL, BNY |
| Q2 2024Amended | 196 | $849.2M | IEFA, AAPL, MSFT, TT, AMAT |
| Q1 2024 | 197 | $881.0M | IEFA, ALSN, MSFT, TT, COR |