KCM Investment Advisors LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), KCM Investment Advisors LLC reported 392 stock positions worth $3.1 billion. Its top holding was Apple (AAPL) at 7.6% of the portfolio, followed by SS Technology Select Sector (XLK, 6.2%) and Microsoft (MSFT, 4.7%). Compared with Q3 2025, it opened 21 new positions, sold out of 10, added to 108 and reduced 199. The biggest buy was Eli Lilly (LLY, shares +0%) and the biggest sale Microsoft (MSFT, shares −0%).

Most Recent 13F
Q2 2026
Location
GREENBRAE, CA
CIK
0001109228
Portfolio Value
$3.1B (Q4 2025)
SEC Filing
0001941040-26-000153 ↗ filed Feb 13, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.7B Q1 2024 Q2 2024: $2.8B Q2 2024 Q3 2024: $2.9B Q3 2024 Q4 2024: $2.9B Q4 2024 Q1 2025: $2.8B Q1 2025 Q2 2025: $3.0B Q2 2025 Q3 2025: $3.1B Q3 2025 Q4 2025: $3.1B $3.1B Q4 2025 Q1 2026: $3.0B Q1 2026 Q2 2026: $3.4B Q2 2026

Holdings 392 stocks · $3.1B

AAPL Apple Inc. 7.55% 861,620 $234.2M Reduce -1.7%
XLK SS Technology Select Sector 6.24% 1,343,491 $193.4M Reduce -2.6%
MSFT Microsoft Corp. 4.65% 298,472 $144.3M Reduce -0.5%
COST Costco Wholesale Corp. 3.20% 114,938 $99.1M Reduce -0.9%
GOOGL Alphabet Inc. Class A 2.75% 272,422 $85.3M Reduce -1.6%
AMZN Amazon.com Inc. 2.48% 333,864 $77.1M Reduce -0.3%
JPM JPMorgan Chase & Co. 2.28% 219,296 $70.7M Add +0.1%
NVDA Nvidia Corp. 2.22% 368,450 $68.7M Reduce -2.1%
WMT Walmart Inc. 2.03% 564,680 $62.9M Reduce -1.2%
XLC SS Comm Select Sector SPDR 2.02% 532,986 $62.7M Reduce -2.1%
VGT Vanguard Info Tech ETF 1.99% 81,904 $61.7M Reduce -2.1%
XLY SS Consumer Disc Select Sect 1.88% 488,994 $58.4M Reduce -2.4%
V Visa Inc. Class A 1.72% 151,682 $53.2M Reduce -1.4%
VOX Vanguard Communication Servi 1.69% 270,951 $52.5M Add +0.6%
XLV SS Health Care Select Sector 1.65% 331,326 $51.3M Reduce -2.5%
CVX Chevron Corp. 1.54% 313,966 $47.9M Reduce -0.5%
HD Home Depot Inc. 1.52% 137,290 $47.2M Reduce -1.3%
GOOG Alphabet Inc. Class C 1.50% 148,004 $46.4M Reduce -2.1%
XLF SS Financial Select Sector 1.49% 843,733 $46.2M Reduce -3.8%
ADP Automatic Data Processing 1.40% 168,378 $43.3M Reduce -2.6%
WM Waste Management Inc. 1.34% 189,636 $41.7M Reduce -0.8%
XLI SS Industrial Select Sector 1.28% 256,851 $39.8M Reduce -1.1%
JNJ Johnson & Johnson 1.26% 188,796 $39.1M Reduce -0.5%
TT Trane Technologies PLC 1.21% 96,700 $37.6M Reduce -1.2%
QQQ Invesco QQQ Trust Series 1 1.16% 58,725 $36.1M Add +0.5%
VTI VG Morningstar TS MKT ETF-US 1.13% 104,380 $35.0M Reduce -3.7%
VCR Vanguard Consumer Discre ETF 1.10% 86,283 $34.0M Reduce -0.1%
BX Blackstone Inc. 1.06% 212,406 $32.7M Reduce -3.8%
XLP SS Consumer Staples Sel Sect 1.03% 409,784 $31.8M Reduce -0.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.98% 44,364 $30.3M Add +0.7%
XLE SS Energy Select Sector 0.95% 657,883 $29.4M Reduce -4.2%
NEE Nextera Energy Inc. 0.93% 361,049 $29.0M Reduce -1.4%
AMGN Amgen Inc. 0.92% 87,521 $28.6M Reduce -1.4%
CAT Caterpillar Inc. 0.92% 49,619 $28.4M Reduce -1.1%
VFH Vanguard Financials ETF 0.87% 203,114 $27.1M Reduce -0.6%
LLY Eli Lilly & Co. 0.87% 25,026 $26.9M Add +0.4%
PG The Procter & Gamble Co. 0.84% 182,472 $26.2M Reduce -3.6%
VIS Vanguard Industrials ETF 0.83% 86,647 $25.9M Reduce -0.3%
MCD McDonald's Corp. 0.75% 76,241 $23.3M Add +0.2%
AVGO Broadcom Inc. 0.66% 59,460 $20.6M Reduce -12.1%
CSL Carlisle Cos Inc. 0.60% 58,434 $18.7M Reduce -6.3%
ECL Ecolab Inc. 0.60% 70,730 $18.6M Reduce -2.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.59% 335,262 $18.4M Reduce -7.8%
KLAC KLA Corp. 0.59% 15,088 $18.3M Reduce -3.9%
ABT Abbott Laboratories 0.59% 145,490 $18.2M Reduce -2.1%
ABBV Abbvie Inc. 0.56% 76,232 $17.4M Reduce -0.1%
VHT Vanguard Health Care ETF 0.51% 55,397 $15.9M Reduce -0.7%
DHR Danaher Corp. 0.50% 68,339 $15.6M Reduce -2.3%
BRK.B Berkshire Hathaway Inc. Class B 0.46% 28,336 $14.2M Reduce -1.5%
VRT Vertiv Holdings Co. Class A 0.45% 86,429 $14.0M Reduce -0.3%
SDY SS SPDR S&P Dividend ETF 0.42% 92,651 $12.9M Reduce -1.1%
VDC Vanguard Consumer Staple ETF 0.40% 58,249 $12.3M Add +4.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.38% 278,630 $11.9M Add +3.5%
SCCO Southern Copper Corp. 0.37% 80,131 $11.5M Add +6.2%
AMAT Applied Materials Inc. 0.37% 44,550 $11.4M Reduce -2.5%
O Realty Income Corp. 0.35% 192,958 $10.9M Reduce -2.4%
SOXX iShares Semiconductor ETF 0.35% 36,067 $10.9M Reduce -6.1%
APD Air Products & Chemicals Inc. 0.33% 41,663 $10.3M Reduce -3.7%
XLB SS Materials Select Sector 0.32% 215,866 $9.8M Add +0.3%
VZ Verizon Communications Inc. 0.31% 234,094 $9.5M Reduce -17.1%
SCHW Schwab (charles) Corp. 0.30% 93,308 $9.3M Reduce -0.9%
LOW Lowe's Cos Inc. 0.29% 37,322 $9.0M Reduce -1.2%
SBUX Starbucks Corp. 0.28% 103,990 $8.8M Reduce -7.4%
MDY State Street SPDR S&P Midcap 0.28% 14,456 $8.7M Reduce -3.5%
VNQ Vanguard Real Estate ETF 0.27% 94,411 $8.4M Reduce -0.6%
IVV iShares Core S&P 500 ETF 0.26% 11,883 $8.1M Reduce -3.0%
LH Labcorp Holdings Inc. 0.25% 31,242 $7.8M Reduce -1.2%
KMB Kimberly-Clark Corp. 0.25% 76,450 $7.7M Reduce -11.3%
VAW Vanguard Materials ETF 0.25% 36,913 $7.7M Reduce -0.9%
CSCO Cisco Systems Inc. 0.24% 97,927 $7.5M Reduce -0.2%
LHX L3HARRIS Technologies Inc. 0.24% 25,408 $7.5M Add +1.2%
SMH Vaneck Semiconductor ETF 0.24% 20,711 $7.5M Add +26.6%
DVY iShares Select Dividend ETF 0.24% 52,834 $7.5M Add +0.0%
NLR Vaneck Urani & Nuclr ETF-Usd 0.22% 56,055 $7.0M Add +186.7%
VPU Vanguard Utilities ETF 0.22% 36,614 $6.8M Reduce -1.2%
VDE Vanguard Energy ETF 0.22% 52,996 $6.7M Reduce -0.5%
GD General Dynamics Corp. 0.21% 19,600 $6.6M Reduce -2.0%
GPC Genuine Parts Co. 0.21% 51,752 $6.4M Reduce -6.8%
TSLA Tesla Inc. 0.20% 13,943 $6.3M Reduce -4.2%
SCHB Schwab US Broad Market ETF 0.20% 232,990 $6.1M Add +0.0%
QCOM Qualcomm Inc. 0.20% 35,363 $6.0M Reduce -6.4%
SPGI S&P Global Inc. 0.19% 11,472 $6.0M Reduce -5.9%
LIN Linde PLC 0.19% 13,990 $6.0M Reduce -1.9%
ACN Accenture PLC Class A 0.19% 21,450 $5.8M Reduce -13.4%
ROST Ross Stores Inc. 0.18% 31,633 $5.7M Reduce -2.0%
CW Curtiss-Wright Corp. 0.18% 10,288 $5.7M Reduce -1.4%
MRK Merck & Co. Inc. 0.18% 53,754 $5.7M Reduce -3.6%
GS Goldman Sachs Group Inc. 0.18% 6,316 $5.6M Reduce -10.5%
XLRE SS Real Estate Select Sector 0.18% 136,603 $5.5M Add +15.6%
ETN Eaton Corp. PLC 0.18% 17,288 $5.5M Reduce -3.7%
PEG Public Service Enterprise GP 0.17% 67,331 $5.4M Add +5.0%
CTAS Cintas Corp. 0.17% 28,642 $5.4M Reduce -6.3%
TRV The Travelers Cos Inc. 0.17% 17,875 $5.2M Reduce -2.7%
NKE Nike Inc. Class B 0.17% 81,310 $5.2M Reduce -9.9%
FDIS Fidelity MSCI Cons Discr Ind 0.17% 50,632 $5.2M No change
CB Chubb Ltd. 0.17% 16,515 $5.2M Reduce -2.7%
META Meta Platforms Inc. Class A 0.15% 7,281 $4.8M Add +4.9%
VUG Vanguard Mrngstar GR ETF-Sui 0.15% 9,763 $4.8M Add +5.8%
OMC Omnicom Group 0.15% 58,735 $4.7M Add +199.1%
SCHD Schwab US DVD Equity ETF 0.15% 169,879 $4.7M Reduce -9.3%
APPF Appfolio Inc. Class A 0.15% 19,686 $4.6M New
CL Colgate-Palmolive Co. 0.14% 54,273 $4.3M Reduce -4.5%
VIG Vanguard Dividend Apprec ETF 0.14% 19,269 $4.2M Add +7.0%
GLW Corning Inc. 0.13% 46,913 $4.1M Reduce -0.1%
ORCL Oracle Corp. 0.13% 20,856 $4.1M Reduce -6.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.13% 13,655 $4.0M No change
WFC Wells Fargo & Co. 0.12% 41,532 $3.9M Add +0.7%
FENY Fidelity MSCI Energy Index 0.12% 155,912 $3.9M Reduce -7.3%
AXP American Express Co. 0.12% 10,400 $3.8M Reduce -5.0%
XOM Exxon Mobil Corp. 0.12% 31,750 $3.8M Reduce -4.7%
AZO AutoZone Inc. 0.12% 1,124 $3.8M Reduce -2.5%
DE Deere & Co. 0.12% 7,854 $3.7M Add +0.4%
KO The Coca-Cola Co. 0.12% 52,038 $3.6M Add +0.4%
GLD SPDR Gold Shares 0.12% 9,139 $3.6M Add +30.9%
MS Morgan Stanley 0.11% 20,080 $3.6M Reduce -3.3%
XLG Invesco S&P 500 Top 50 ETF 0.11% 59,775 $3.5M No change
FNY First Trust Mid Cap Growth 0.11% 37,766 $3.4M Reduce -2.3%
CAH Cardinal Health Inc. 0.11% 16,400 $3.4M Add +0.1%
CLX Clorox Company 0.11% 33,194 $3.3M Reduce -10.7%
TSM Taiwan Semiconductor-SP ADR 0.11% 10,786 $3.3M Add +3.0%
FTNT Fortinet Inc. 0.10% 40,653 $3.2M Add +4.2%
IAT iShares US Regional Banks Et 0.10% 57,077 $3.1M Add +1.3%
RTX RTX Corp. 0.10% 16,991 $3.1M Add +4.6%
OEF iShares S&P 100 ETF 0.10% 9,069 $3.1M Reduce -0.2%
TMO Thermo Fisher Scientific Inc. 0.10% 5,327 $3.1M Reduce -11.4%
SO The Southern Co. 0.10% 34,213 $3.0M Add +1.2%
UNP Union Pacific Corp. 0.09% 12,630 $2.9M Reduce -3.0%
UNH Unitedhealth Group Inc. 0.09% 8,842 $2.9M Reduce -4.2%
PGX Invesco Preferred ETF 0.09% 257,166 $2.9M Reduce -2.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 24,764 $2.8M Reduce -4.6%
ALL Allstate Corp. 0.09% 13,358 $2.8M Reduce -0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 9,340 $2.8M Reduce -3.1%
HON Honeywell International Inc. 0.09% 14,057 $2.7M Reduce -1.1%
ROP Roper Technologies Inc. 0.09% 6,132 $2.7M Add +6.3%
ORLY O'reilly Automotive Inc. 0.09% 29,921 $2.7M Reduce -1.3%
MMM 3M Co. 0.09% 17,027 $2.7M Reduce -5.6%
DGRO iShares Core Dividend Growth 0.09% 38,992 $2.7M No change
FCX Freeport-McMoran Inc. 0.09% 53,000 $2.7M Reduce -6.3%
JCI Johnson Controls Internation 0.09% 22,265 $2.7M Reduce -1.9%
BKNG Booking Holdings Inc. 0.09% 492 $2.6M Add +8.1%
IJH iShares Core S&P Midcap ETF 0.08% 39,867 $2.6M Reduce -0.9%
PLD Prologis Inc. 0.08% 20,257 $2.6M Reduce -0.1%
BLK BlackRock Inc. 0.08% 2,367 $2.5M Add +4.7%
CDNS Cadence Design SYS Inc. 0.08% 7,981 $2.5M Reduce -15.4%
PH Parker Hannifin Corp. 0.08% 2,818 $2.5M Reduce -3.3%
PPL PPL Corp. 0.08% 70,616 $2.5M Reduce -9.3%
ADBE Adobe Inc. 0.08% 6,860 $2.4M Reduce -18.1%
IBB iShares Biotechnology ETF 0.08% 13,947 $2.4M Reduce -4.1%
CCI Crown Castle Inc. 0.07% 26,157 $2.3M Reduce -11.0%
BLDR Builders Firstsource Inc. 0.07% 22,490 $2.3M Reduce -9.8%
IWM iShares Russell 2000 ETF 0.07% 9,120 $2.2M Add +96.0%
BA The Boeing Co. 0.07% 10,203 $2.2M Add +23.9%
NEM Newmont Corp. 0.07% 20,813 $2.1M Add +37.0%
MKC McCormick & Co.-Non VTG SHRS 0.07% 30,230 $2.1M Reduce -1.0%
PEP Pepsico Inc. 0.07% 14,219 $2.0M Reduce -4.6%
FDX FedEx Corp. 0.07% 7,040 $2.0M Add +2.4%
LRCX Lam Research Corp. 0.07% 11,864 $2.0M Add +8.4%
CRM Salesforce Inc. 0.06% 7,539 $2.0M Reduce -5.5%
ITW Illinois Tool Works 0.06% 8,106 $2.0M Reduce -7.0%
MAR Marriott International Class A 0.06% 6,398 $2.0M Reduce -1.9%
SCHM Schwab US Mid Cap ETF 0.06% 63,459 $1.9M No change
LMT Lockheed Martin Corp. 0.06% 3,859 $1.9M Reduce -0.5%
QUAL iShares MSCI USA Quality Fac 0.06% 9,379 $1.9M Add +0.3%
IWF iShares Russell 1000 Growth 0.06% 3,928 $1.9M Reduce -4.3%
WEC WEC Energy Group Inc. 0.06% 17,529 $1.8M Reduce -8.1%
ELV Elevance Health Inc. 0.06% 5,135 $1.8M Reduce -1.9%
VYM Vanguard High DVD Yield ETF 0.06% 12,482 $1.8M Reduce -6.3%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.06% 21,310 $1.8M Reduce -0.1%
UPS United Parcel Service Class B 0.06% 17,779 $1.8M Reduce -34.3%
CVS CVS Health Corp. 0.06% 21,570 $1.7M Add +12.2%
GE General Electric filed as GE AEROSPACE 0.06% 5,556 $1.7M Add +0.7%
NUE Nucor Corp. 0.05% 10,362 $1.7M Reduce -1.2%
ACWI iShares MSCI Acwi ETF 0.05% 11,895 $1.7M Add +6.6%
VB Vanguard Most SM-Cap ETF-Usd 0.05% 6,408 $1.7M Add +11.7%
CORT Corcept Therapeutics Inc. 0.05% 47,395 $1.6M Reduce -0.6%
EMR Emerson Electric Co. 0.05% 12,241 $1.6M Reduce -1.1%
MA Mastercard Inc. Class A 0.05% 2,819 $1.6M Add +3.4%
VOO Vanguard S&P 500 ETF 0.05% 2,549 $1.6M Add +8.5%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.05% 3,314 $1.6M Reduce -0.1%
UL Unilever PLC-Sponsored ADR 0.05% 24,344 $1.6M No change
GILD Gilead Sciences Inc. 0.05% 12,910 $1.6M Add +8.7%
IYF iShares US Financials ETF 0.05% 12,144 $1.6M Reduce -0.5%
WMB Williams Cos Inc. 0.05% 25,783 $1.5M Reduce -1.2%
KR Kroger Co. 0.05% 24,743 $1.5M Add +1.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.05% 9,868 $1.5M Add +31.6%
DLN Wisdomtree US Largecap Divid 0.05% 17,202 $1.5M Add +0.5%
ZBH Zimmer Biomet Holdings Inc. 0.05% 16,770 $1.5M Reduce -44.4%
SCHX Schwab US Large-Cap ETF 0.05% 55,499 $1.5M No change
VEA Vanguard Ftse Developed ETF 0.05% 23,705 $1.5M Add +1.8%
PFE Pfizer Inc. 0.05% 57,230 $1.4M Reduce -40.9%
XNTK SS SPDR Nyse Tech ETF 0.04% 4,950 $1.4M No change
MDT Medtronic PLC 0.04% 14,091 $1.4M Reduce -4.3%
SHW The Sherwin-Williams Co. 0.04% 4,160 $1.3M Reduce -7.9%
SCHG Schwab US Large-Cap Growth 0.04% 41,203 $1.3M Add +7.6%
IOO iShares Global 100 ETF 0.04% 10,062 $1.3M No change
NVS Novartis AG-Sponsored ADR 0.04% 9,159 $1.3M Reduce -4.6%
MPC Marathon Petroleum Corp. 0.04% 7,639 $1.2M Reduce -2.3%
MP MP Materials Corp. 0.04% 24,130 $1.2M Add +1.6%
MCK McKesson Corp. 0.04% 1,467 $1.2M Add +0.6%
TMUS T-Mobile US Inc. 0.04% 5,885 $1.2M Reduce -72.3%
IAU iShares Gold Trust 0.04% 14,628 $1.2M Reduce -15.8%
RSP Invesco S&P 500 Equal Weight 0.04% 6,106 $1.2M Reduce -1.1%
DUK Duke Energy Corp. 0.04% 9,872 $1.2M Add +8.0%
J Jacobs Solutions Inc. 0.04% 8,721 $1.2M Reduce -3.0%
FNDX Schwab Fndmntl US LRG Co. ETF 0.04% 42,262 $1.1M No change
BMY Bristol-Myers Squibb Co. 0.04% 20,871 $1.1M Add +0.8%
T AT&T Inc. 0.03% 43,427 $1.1M Reduce -7.0%
VLO Valero Energy Corp. 0.03% 6,547 $1.1M Add +33.8%
IGV iShares Expanded Tech-Softwa 0.03% 9,924 $1.0M Reduce -0.1%
JBL Jabil Inc. 0.03% 4,527 $1.0M No change
B Barrick Mining Corp. 0.03% 23,221 $1.0M Reduce -4.4%
WPM Wheaton Precious Metals Corp. 0.03% 8,555 $1.0M Add +11.0%
LEN Lennar Corp. Class A 0.03% 9,754 $1.0M Reduce -6.4%
LULU Lululemon Athletica Inc. 0.03% 4,750 $987K Reduce -17.9%
GEV GE Vernova Inc. 0.03% 1,510 $987K Add +1.3%
BSX Boston Scientific Corp. 0.03% 10,278 $980K Add +0.7%
IETC iShares U.S. Tech Independen 0.03% 9,636 $979K No change
TEAM Atlassian Corp. Class A 0.03% 6,022 $976K Add +43.4%
ISRG Intuitive Surgical Inc. 0.03% 1,694 $959K Reduce -7.4%
CMI Cummins Inc. 0.03% 1,869 $954K Add +0.7%
NFLX Netflix Inc. 0.03% 10,140 $951K Reduce -7.7%
ONEQ Fidelity Nasdaq Comp Indx 0.03% 9,967 $911K No change
C Citigroup Inc. 0.03% 7,393 $863K Reduce -10.4%
SYY Sysco Corp. 0.03% 11,007 $811K Reduce -0.1%
VRSK Verisk Analytics Inc. 0.03% 3,586 $802K Reduce -0.3%
EPD Enterprise Products Partners 0.03% 24,756 $794K Add +0.4%
ET Energy Transfer LP 0.03% 47,000 $775K No change
COP Conocophillips 0.02% 8,263 $774K Reduce -1.9%
ALB Albemarle Corp. 0.02% 5,466 $773K Reduce -11.6%
AEP American Electric Power 0.02% 6,641 $766K Add +1.3%
PM Philip Morris International 0.02% 4,620 $741K Reduce -4.1%
MO Altria Group Inc. 0.02% 12,655 $730K Add +16.7%
MNDY Monday.com Ltd. 0.02% 4,937 $729K No change
USB US Bancorp 0.02% 13,644 $728K Reduce -7.0%
TEL Te Connectivity PLC 0.02% 3,171 $721K Reduce -16.2%
NOW ServiceNow Inc. 0.02% 4,695 $719K Add +0.4%
A Agilent Technologies Inc. 0.02% 5,272 $717K No change
IXG iShares Global Financials Et 0.02% 5,882 $710K Add +2.8%
INTC Intel Corp. 0.02% 18,658 $688K Reduce -7.0%
CMCSA Comcast Corp. Class A 0.02% 22,489 $672K Reduce -3.1%
FTEC Fidelity MSCI Info Tech Indx 0.02% 2,989 $672K No change
MU Micron Technology Inc. 0.02% 2,297 $656K Reduce -5.1%
SYK Stryker Corp. 0.02% 1,857 $653K Add +1.5%
TXN Texas Instruments Inc. 0.02% 3,674 $637K Reduce -4.9%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.02% 2,019 $636K No change
COF Capital One Financial Corp. 0.02% 2,619 $635K Add +1.9%
PFF iShares Preferred & Income S 0.02% 20,374 $631K Add +1.6%
FCOM Fidelity MSCI Comm Serv Indx 0.02% 8,486 $622K Add +16.2%
FSLR First Solar Inc. 0.02% 2,341 $612K Add +2.5%
VXUS Vanguard Total Intl Stock 0.02% 8,004 $604K Add +188.3%
XAR SS SPDR S&P Aerospace Def 0.02% 2,473 $597K No change
PSX Phillips 66 0.02% 4,600 $594K Reduce -0.8%
SCHF Schwab Intl Equity ETF 0.02% 24,571 $591K Add +4.2%
ARM Arm Holdings PLC-ADR 0.02% 5,374 $587K Add +5.4%
INTU Intuit Inc. 0.02% 882 $584K Add +2.1%
AMD Advanced Micro Devices 0.02% 2,723 $583K Add +6.2%
XYL Xylem Inc. 0.02% 4,272 $582K No change
AFL Aflac Inc. 0.02% 5,095 $562K Reduce -6.1%
CI The Cigna Group 0.02% 2,029 $558K Reduce -4.4%
XEL Xcel Energy Inc. 0.02% 7,409 $547K No change
TGT Target Corp. 0.02% 5,586 $546K Reduce -21.6%
KKR KKR & Co. Inc. 0.02% 4,235 $540K Reduce -16.2%
SRE Sempra 0.02% 6,080 $537K Add +1.4%
NRG NRG Energy Inc. 0.02% 3,303 $526K New
ES Eversource Energy 0.02% 7,746 $522K Add +21.8%
GSLC Goldman Activebeta US LC ETF 0.02% 3,905 $517K No change
PGR Progressive Corp. 0.02% 2,232 $508K Add +22.4%
KMI Kinder Morgan Inc. 0.02% 18,130 $498K Reduce -2.2%
FAST Fastenal Co. 0.02% 12,338 $495K Add +21.9%
BIIB Biogen Inc. 0.02% 2,799 $493K No change
AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO 0.02% 7,457 $489K New
IXN iShares Global Tech ETF 0.02% 4,604 $483K No change
COIN Coinbase Global Inc. Class A 0.02% 2,112 $478K Add +54.4%
IHI iShares U.S. Medical Devices 0.02% 7,566 $470K No change
KEYS Keysight Technologies Inc. 0.02% 2,303 $468K No change
IXJ iShares Global Healthcare Et 0.01% 4,790 $467K Add +0.4%
DLR Digital Realty Trust Inc. 0.01% 2,990 $463K Reduce -3.0%
NSC Norfolk Southern Corp. 0.01% 1,577 $455K Add +1.4%
APH Amphenol Corp. Class A 0.01% 3,344 $452K Add +22.7%
PANW Palo Alto Networks Inc. 0.01% 2,451 $451K Reduce -7.7%
CRWD CrowdStrike Holdings Inc. Class A 0.01% 953 $447K Add +22.0%
HUBB Hubbell Inc. 0.01% 1,000 $444K Reduce -9.9%
VRTX Vertex Pharmaceuticals Inc. 0.01% 976 $442K New
IJR iShares Core S&P Small-Cap E 0.01% 3,578 $430K Reduce -9.5%
IVE iShares S&P 500 Value ETF 0.01% 2,000 $424K No change
CARR Carrier Global Corp. 0.01% 7,960 $421K Reduce -18.1%
MPWR Monolithic Power Systems Inc. 0.01% 457 $414K No change
IBIT iShares Bitcoin Trust ETF 0.01% 8,229 $409K Add +107.9%
PRF Invesco Rafi US 1000 ETF 0.01% 8,565 $402K No change
BXSL Blackstone Secured Lending F 0.01% 15,000 $395K New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.01% 3,335 $387K Add +1.6%
FICO Fair Isaac Corp. 0.01% 229 $387K No change
EFA iShares MSCI Eafe ETF 0.01% 4,020 $386K No change
DON Wisdomtree US Midcap Dividen 0.01% 7,471 $385K Reduce -2.7%
DKS Dick's Sporting Goods Inc. 0.01% 1,912 $379K No change
IWB iShares Russell 1000 ETF 0.01% 1,012 $378K Reduce -30.9%
SHEL Shell PLC-ADR 0.01% 5,126 $377K Add +14.1%
PNC PNC Financial Services Group 0.01% 1,759 $367K Reduce -7.0%
VGK Vanguard Ftse Europe ETF 0.01% 4,363 $365K Reduce -3.5%
SGOL Abrdn Physical Gold Shares 0.01% 8,850 $364K No change
ERTH Invesco MSCI Sustainable Fut 0.01% 7,651 $361K Reduce -7.2%
UBER Uber Technologies Inc. 0.01% 4,403 $360K Add +17.7%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.01% 7,715 $349K No change
HACK Amplify Cybersecurity ETF 0.01% 4,338 $349K No change
GRID First TRST Nasd Class Edg Sgiif 0.01% 2,249 $344K New
IJK iShares S&P Mid-Cap 400 Grow 0.01% 3,550 $344K No change
PSA Public Storage 0.01% 1,322 $343K Reduce -5.9%
STX Seagate Technology Holdings 0.01% 1,233 $340K Add +3.8%
FNDA Schwab Fndmntl US SM Co. ETF 0.01% 10,661 $336K No change
ENB Enbridge Inc. 0.01% 7,022 $336K Reduce -4.3%
IHF iShares U.S. Healthcare Prov 0.01% 6,957 $334K Add +0.4%
AMT American Tower Corp. 0.01% 1,897 $333K Reduce -3.9%
SNPS Synopsys Inc. 0.01% 700 $329K Reduce -0.8%
MASI Masimo Corp. 0.01% 2,515 $327K No change
ESS Essex Property Trust Inc. 0.01% 1,245 $326K No change
SHOP Shopify Inc. Class A 0.01% 2,011 $324K No change
SCHK Schwab 1000 Index ETF 0.01% 9,712 $319K No change
IYJ iShares U.S. Industrials ETF 0.01% 2,135 $316K No change
ADM Archer-Daniels-Midland Co. 0.01% 5,495 $316K No change
EVRG Evergy Inc. 0.01% 4,323 $313K Add +39.2%
WELL Welltower Inc. 0.01% 1,678 $311K Add +3.2%
DOV Dover Corp. 0.01% 1,585 $309K Add +3.5%
BWXT BWX Technologies Inc. 0.01% 1,787 $309K Reduce -5.2%
IYT iShares US Transportation Et 0.01% 4,131 $308K Add +0.0%
EQT Eqt Corp. 0.01% 5,680 $304K Reduce -0.4%
BNDX Vanguard Total Intl Bond ETF 0.01% 6,146 $297K New
PPH Vaneck Pharmaceutical ETF 0.01% 2,873 $296K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.01% 1,145 $296K Add +1.6%
WDAY Workday Inc. Class A 0.01% 1,372 $295K Add +1.3%
FNCL Fidelity MSCI Financial Indx 0.01% 3,790 $295K Reduce -1.2%
ED Consolidated Edison Inc. 0.01% 2,953 $293K Reduce -6.6%
CIEN Ciena Corp. 0.01% 1,246 $291K New
AZN Astrazeneca PLC-Spons ADR 0.01% 3,157 $290K Reduce -20.2%
GM General Motors Co. 0.01% 3,499 $285K Add +6.6%
USMV iShares MSCI USA Min Vol Fac 0.01% 3,020 $284K No change
AEM Agnico Eagle Mines Ltd. 0.01% 1,677 $284K New
PAYX Paychex Inc. 0.01% 2,492 $280K Reduce -9.2%
CHAT Roundhill Gen AI & Tech ETF 0.01% 4,707 $278K No change
RY Royal Bank of Canada 0.01% 1,589 $271K No change
FRT Federal Realty Invs Trust 0.01% 2,672 $269K Reduce -5.2%
KXI iShares Global Consumer Stap 0.01% 4,144 $268K Add +2.3%
LITE Lumentum Holdings Inc. 0.01% 720 $265K New
IEV iShares Europe ETF 0.01% 3,865 $265K No change
OKE Oneok Inc. 0.01% 3,597 $264K Reduce -10.6%
CRCL Circle Internet Group Inc. 0.01% 3,320 $263K Add +113.5%
TD Toronto-Dominion Bank 0.01% 2,794 $263K Reduce -1.9%
ASML ASML Holding NV-NY Reg SHS 0.01% 246 $263K No change
NOC Northrop Grumman Corp. 0.01% 462 $263K Add +1.5%
WDC Western Digital Corp. 0.01% 1,518 $261K New
TM Toyota Motor Corp. -Spon ADR 0.01% 1,195 $256K New
IDXX Idexx Laboratories Inc. 0.01% 377 $255K Add +5.3%
CSX CSX Corp. 0.01% 7,012 $254K Reduce -0.1%
BDX Becton Dickinson and Co. 0.01% 1,304 $253K Reduce -14.5%
SPLV Invesco S&P 500 Low Volatili 0.01% 3,537 $253K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.01% 609 $251K No change
KRE SS SPDR S&P Regional Bank 0.01% 3,832 $248K Reduce -2.6%
PHO Invesco Water Resources ETF 0.01% 3,518 $248K Reduce -5.1%
AMP Ameriprise Financial Inc. 0.01% 503 $247K Reduce -2.9%
IR Ingersoll-Rand Inc. 0.01% 3,111 $246K No change
CTRA Coterra Energy Inc. 0.01% 9,227 $243K Add +2.1%
BMRC Bank of Marin Bancorp filed as BANK MARIN BANCORP 0.01% 9,240 $240K No change
IYH iShares U.S. Healthcare ETF 0.01% 3,650 $238K No change
FHLC Fidelity MSCI Health Care 0.01% 3,197 $237K Add +3.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 1,242 $237K Add +0.1%
CME Cme Group Inc. 0.01% 863 $236K Add +3.4%
HSY The Hershey Co. 0.01% 1,271 $231K No change
STT State Street Corp. 0.01% 1,787 $231K Reduce -0.7%
XBI SS SPDR S&P Biotech ETF 0.01% 1,874 $228K New
QQQE Dirx Nasdaq-100EQ Wi ETF-Usd 0.01% 2,210 $226K No change
SCHV Schwab US Large-Cap Value 0.01% 7,602 $225K No change
ANET Arista Networks Inc. 0.01% 1,713 $224K Add +5.2%
F Ford Motor Co. filed as FORD MTR CO 0.01% 16,691 $219K Reduce -10.7%
IGM iShares Expanded Tech Sector 0.01% 1,680 $217K New
COR Cencora Inc. 0.01% 642 $217K Reduce -1.7%
AON Aon PLC Class A 0.01% 613 $216K Reduce -3.6%
CHKP Check Point Software Tech 0.01% 1,164 $216K Reduce -9.8%
MDLZ Mondelez International Inc. Class A 0.01% 4,010 $216K Reduce -4.8%
TTE Totalenergies SE 0.01% 3,294 $215K New
EW Edwards Lifesciences Corp. 0.01% 2,518 $215K New
COWZ Pacer US Cash Cows 100 ETF 0.01% 3,566 $215K New
OXY Occidental Petroleum Corp. 0.01% 5,187 $213K No change
VEEV Veeva Systems Inc. Class A 0.01% 939 $210K New
PLTR Palantir Technologies Inc. Class A 0.01% 1,178 $209K New
SPYG SS SPDR P S&P 500 Growth ETF 0.01% 1,957 $209K No change
BP BP PLC-Spons ADR 0.01% 5,957 $207K No change
PXH Inves Rafi Emer MRKT-Usd Inc. 0.01% 8,000 $206K No change
ROK Rockwell Automation Inc. 0.01% 517 $201K New
IXP iShares Global Comm Services 0.01% 1,658 $201K New
URI United Rentals Inc. 0.01% 248 $201K Reduce -5.0%
CX Cemex Sab-Spons ADR Part Cer 0.00% 10,067 $116K No change
NAT Nordic American Tankers Ltd. 0.00% 25,677 $88K No change
GGB Gerdau SA -Spon ADR 0.00% 14,576 $54K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $17.1M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 11,576$14.0MReduce -1.3%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 2,438$3.1MReduce -0.8%

Total filed on the 13F, all lines: $3.1B.

Portfolio Sells Q3 2025 → Q4 2025

MSFT Microsoft Corp. Reduce -0.5% 4.65% −0.38
HD Home Depot Inc. Reduce -1.3% 1.52% −0.30
COST Costco Wholesale Corp. Reduce -0.9% 3.20% −0.28
ADP Automatic Data Processing Reduce -2.6% 1.40% −0.25
BX Blackstone Inc. Reduce -3.8% 1.06% −0.17
TMUS T-Mobile US Inc. Reduce -72.3% 0.04% −0.13
TT Trane Technologies PLC Reduce -1.2% 1.21% −0.12
PG The Procter & Gamble Co. Reduce -3.6% 0.84% −0.10
KMB Kimberly-Clark Corp. Reduce -11.3% 0.25% −0.10
VZ Verizon Communications Inc. Reduce -17.1% 0.31% −0.09
CORT Corcept Therapeutics Inc. Reduce -0.6% 0.05% −0.08
ORCL Oracle Corp. Reduce -6.6% 0.13% −0.07
XLC SS Comm Select Sector SPDR Reduce -2.1% 2.02% −0.06
IWV iShares Russell 3000 ETF Sold out 0.00% −0.06
XLK SS Technology Select Sector Reduce -2.6% 6.24% −0.06
XLY SS Consumer Disc Select Sect Reduce -2.4% 1.88% −0.06
CSL Carlisle Cos Inc. Reduce -6.3% 0.60% −0.06
NVDA Nvidia Corp. Reduce -2.1% 2.22% −0.06
AVGO Broadcom Inc. Reduce -12.1% 0.66% −0.06
ABT Abbott Laboratories Reduce -2.1% 0.59% −0.06
APD Air Products & Chemicals Inc. Reduce -3.7% 0.33% −0.05
ZBH Zimmer Biomet Holdings Inc. Reduce -44.4% 0.05% −0.05
XLE SS Energy Select Sector Reduce -4.2% 0.95% −0.05
CVX Chevron Corp. Reduce -0.5% 1.54% −0.04
GPC Genuine Parts Co. Reduce -6.8% 0.21% −0.04
ECL Ecolab Inc. Reduce -2.4% 0.60% −0.04
LH Labcorp Holdings Inc. Reduce -1.2% 0.25% −0.04
CLX Clorox Company Reduce -10.7% 0.11% −0.04
ETN Eaton Corp. PLC Reduce -3.7% 0.18% −0.04
XLF SS Financial Select Sector Reduce -3.8% 1.49% −0.04
O Realty Income Corp. Reduce -2.4% 0.35% −0.04
AZO AutoZone Inc. Reduce -2.5% 0.12% −0.04
NKE Nike Inc. Class B Reduce -9.9% 0.17% −0.04
PFE Pfizer Inc. Reduce -40.9% 0.05% −0.03
VGT Vanguard Info Tech ETF Reduce -2.1% 1.99% −0.03
CTAS Cintas Corp. Reduce -6.3% 0.17% −0.03
LIN Linde PLC Reduce -1.9% 0.19% −0.03
CDNS Cadence Design SYS Inc. Reduce -15.4% 0.08% −0.03
SBUX Starbucks Corp. Reduce -7.4% 0.28% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -3.7% 1.13% −0.02
WM Waste Management Inc. Reduce -0.8% 1.34% −0.02
BLDR Builders Firstsource Inc. Reduce -9.8% 0.07% −0.02
SWK Stanley Black & Decker Inc. Sold out 0.00% −0.02
ADBE Adobe Inc. Reduce -18.1% 0.08% −0.02
ORLY O'reilly Automotive Inc. Reduce -1.3% 0.09% −0.02
LOW Lowe's Cos Inc. Reduce -1.2% 0.29% −0.02
CCI Crown Castle Inc. Reduce -11.0% 0.07% −0.02
UPS United Parcel Service Class B Reduce -34.3% 0.06% −0.02
XLP SS Consumer Staples Sel Sect Reduce -0.2% 1.03% −0.02
SCHD Schwab US DVD Equity ETF Reduce -9.3% 0.15% −0.02

Portfolio Buys Q3 2025 → Q4 2025

LLY Eli Lilly & Co. Add +0.4% 0.87% +0.25
APPF Appfolio Inc. Class A New 0.15% +0.15
NLR Vaneck Urani & Nuclr ETF-Usd Add +186.7% 0.22% +0.14
OMC Omnicom Group Add +199.1% 0.15% +0.10
SCCO Southern Copper Corp. Add +6.2% 0.37% +0.07
SMH Vaneck Semiconductor ETF Add +26.6% 0.24% +0.07
VOX Vanguard Communication Servi Add +0.6% 1.69% +0.05
JPM JPMorgan Chase & Co. Add +0.1% 2.28% +0.04
GLD SPDR Gold Shares Add +30.9% 0.12% +0.04
IWM iShares Russell 2000 ETF Add +96.0% 0.07% +0.04
QQQ Invesco QQQ Trust Series 1 Add +0.5% 1.16% +0.03
NEM Newmont Corp. Add +37.0% 0.07% +0.03
CAH Cardinal Health Inc. Add +0.1% 0.11% +0.03
SPY SS SPDR S&P 500 ETF Trust-US Add +0.7% 0.98% +0.02
LRCX Lam Research Corp. Add +8.4% 0.07% +0.02
NRG NRG Energy Inc. New 0.02% +0.02
XLRE SS Real Estate Select Sector Add +15.6% 0.18% +0.02
AKRE Akre Focus ETF New 0.02% +0.02
VRTX Vertex Pharmaceuticals Inc. New 0.01% +0.01
BA The Boeing Co. Add +23.9% 0.07% +0.01
TJX TJX Companies Inc. Add +31.6% 0.05% +0.01
FDX FedEx Corp. Add +2.4% 0.07% +0.01
VXUS Vanguard Total Intl Stock Add +188.3% 0.02% +0.01
WFC Wells Fargo & Co. Add +0.7% 0.12% +0.01
BXSL Blackstone Secured Lending F New 0.01% +0.01
RTX RTX Corp. Add +4.6% 0.10% +0.01
GRID First TRST Nasd Class Edg Sgiif New 0.01% +0.01
TSM Taiwan Semiconductor-SP ADR Add +3.0% 0.11% +0.01
VIG Vanguard Dividend Apprec ETF Add +7.0% 0.14% +0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +5.8% 0.15% +0.01
TEAM Atlassian Corp. Class A Add +43.4% 0.03% +0.01
BNDX Vanguard Total Intl Bond ETF New 0.01% +0.01
CIEN Ciena Corp. New 0.01% +0.01
AEM Agnico Eagle Mines Ltd. New 0.01% +0.01
VDC Vanguard Consumer Staple ETF Add +4.0% 0.40% +0.01
LITE Lumentum Holdings Inc. New 0.01% +0.01
GILD Gilead Sciences Inc. Add +8.7% 0.05% +0.01
WDC Western Digital Corp. New 0.01% +0.01
CVS CVS Health Corp. Add +12.2% 0.06% +0.01
TM Toyota Motor Corp. -Spon ADR New 0.01% +0.01
XBI SS SPDR S&P Biotech ETF New 0.01% +0.01
VLO Valero Energy Corp. Add +33.8% 0.03% +0.01
IGM iShares Expanded Tech Sector New 0.01% +0.01
EW Edwards Lifesciences Corp. New 0.01% +0.01
COWZ Pacer US Cash Cows 100 ETF New 0.01% +0.01
TTE Totalenergies SE New 0.01% +0.01
PLTR Palantir Technologies Inc. Class A New 0.01% +0.01
VEEV Veeva Systems Inc. Class A New 0.01% +0.01
IXP iShares Global Comm Services New 0.01% +0.01
ROK Rockwell Automation Inc. New 0.01% +0.01

Notes & Other Activity Q3 2025 → Q4 2025

WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -1.3% 11,576 $14.0M
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -0.8% 2,438 $3.1M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 398$3.4BXLK, AAPL, MSFT, COST, GOOGL
Q1 2026 391$3.0BAAPL, XLK, COST, MSFT, GOOGL
Q4 2025 392$3.1BAAPL, XLK, MSFT, COST, GOOGL
Q3 2025 381$3.1BAAPL, XLK, MSFT, COST, AMZN
Q2 2025 375$3.0BAAPL, XLK, MSFT, COST, XLC
Q1 2025 359$2.8BAAPL, XLK, MSFT, COST, XLC
Q4 2024 364$2.9BAAPL, XLK, MSFT, COST, AMZN
Q3 2024 370$2.9BAAPL, XLK, MSFT, COST, VTI
Q2 2024 364$2.8BAAPL, XLK, MSFT, COST, AMZN
Q1 2024 374$2.7BAAPL, XLK, MSFT, COST, AMZN