Kimelman & Baird, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Kimelman & Baird, LLC reported 339 stock positions worth $1.2 billion. Its top holding was JPMorgan Chase (JPM) at 5.8% of the portfolio, followed by Costco Wholesale (COST, 5.1%) and Microsoft (MSFT, 5.0%). Compared with Q1 2025, it opened 6 new positions, sold out of 15, added to 11 and reduced 61. The biggest buy was Medtronic (MDT, shares +2141%) and the biggest sale Alphabet Class A (GOOGL, shares −39%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001318103
Portfolio Value
$1.2B (Q2 2025)
SEC Filing
0000890163-25-000009 ↗ filed Aug 12, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q2 2024: $1.2B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.2B $1.2B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 339 stocks · $1.2B
JPM JPMorgan Chase & Co. 5.76% 244,063 $70.8M Reduce -0.2%
COST Costco Wholesale Corp. 5.05% 62,677 $62.0M Reduce -0.4%
MSFT Microsoft Corp. 5.03% 124,280 $61.8M Reduce -0.2%
AMZN Amazon.com Inc. 4.95% 276,978 $60.8M Reduce -0.6%
AAPL Apple Inc. 4.91% 293,968 $60.3M Reduce -1.1%
CPRT Copart Inc. 4.88% 1,222,165 $60.0M Reduce -1.2%
WM Waste Management Inc. 3.91% 209,790 $48.0M Reduce -0.2%
BX Blackstone Inc. 3.85% 316,392 $47.3M Reduce -0.3%
MA Mastercard Inc. Class A 3.68% 80,430 $45.2M Reduce -0.9%
HD Home Depot Inc. 3.53% 118,118 $43.3M Reduce -0.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 3.37% 335,623 $41.4M Reduce -0.7%
V Visa Inc. Class A 3.10% 107,165 $38.0M Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 3.05% 791,932 $37.5M Reduce -0.5%
WCN Waste Connections Inc. 2.85% 187,532 $35.0M Reduce -0.3%
LLY Eli Lilly & Co. 2.81% 44,283 $34.5M Reduce -1.0%
UBER Uber Technologies Inc. 2.54% 334,622 $31.2M Reduce -0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.49% 103,765 $30.6M Reduce -0.3%
GOOGL Alphabet Inc. Class A 2.45% 171,068 $30.1M Reduce -38.5%
HON Honeywell International Inc. 2.43% 128,082 $29.8M Reduce -0.3%
OC Owens Corning 2.29% 204,741 $28.2M Reduce -0.1%
UNP Union Pacific Corp. 1.92% 102,304 $23.5M No change
OPLN Openlane Inc. 1.59% 798,502 $19.5M Reduce -0.4%
DOV Dover Corp. 1.43% 96,000 $17.6M No change
LIN Linde PLC 1.32% 34,440 $16.2M Add +1.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.30% 129,050 $16.0M Reduce -0.2%
NSC Norfolk Southern Corp. 1.19% 56,880 $14.6M No change
UPS United Parcel Service Class B 1.12% 135,994 $13.7M Reduce -3.9%
MRK Merck & Co. Inc. 1.05% 162,450 $12.9M Reduce -0.1%
NKE Nike Inc. Class B 1.04% 180,556 $12.8M Reduce -1.2%
MDT Medtronic PLC 0.99% 138,991 $12.1M Add +2141.4%
XOM Exxon Mobil Corp. 0.86% 97,589 $10.5M Reduce -0.0%
EMR Emerson Electric Co. 0.74% 68,585 $9.1M Add +0.1%
NVDA Nvidia Corp. 0.74% 57,171 $9.0M Add +2.0%
DMRC Digimarc Corp. 0.69% 640,851 $8.5M Add +11.4%
MCD McDonald's Corp. 0.65% 27,320 $8.0M No change
MRVL Marvell Technology Inc. 0.51% 80,315 $6.2M Add +48575.8%
CAC Camden National Corp. 0.49% 147,811 $6.0M Reduce -0.8%
MTB M & T Bank Corp. filed as M & T BK CORP 0.47% 29,950 $5.8M No change
ABBV Abbvie Inc. 0.47% 31,070 $5.8M No change
CVX Chevron Corp. 0.44% 37,660 $5.4M Reduce -0.1%
NUE Nucor Corp. 0.40% 37,550 $4.9M No change
NEE Nextera Energy Inc. 0.39% 68,424 $4.7M No change
SHEL Shell PLC-ADR 0.38% 66,176 $4.7M No change
GOOG Alphabet Inc. Class C 0.34% 23,404 $4.2M Reduce -30.8%
AMGN Amgen Inc. 0.34% 14,790 $4.1M Reduce -0.1%
STE Steris PLC 0.30% 15,402 $3.7M Reduce -0.4%
ABT Abbott Laboratories 0.26% 23,639 $3.2M No change
PG The Procter & Gamble Co. 0.26% 19,670 $3.1M No change
MRSH Marsh & McLennan Cos 0.23% 12,795 $2.8M No change
GE General Electric filed as GE AEROSPACE 0.22% 10,324 $2.7M No change
TRAVELERS COMPANIES INC 0.19% 8,536 $2.3M New
SXT Sensient Technologies Corp. 0.14% 17,250 $1.7M Reduce -0.6%
PM Philip Morris International 0.14% 9,293 $1.7M No change
GLD SPDR Gold Shares 0.14% 5,490 $1.7M No change
CSCO Cisco Systems Inc. 0.14% 24,006 $1.7M No change
JNJ Johnson & Johnson 0.13% 10,396 $1.6M No change
MDLZ Mondelez International Inc. Class A 0.13% 23,355 $1.6M No change
KIM Kimco Realty Corp. 0.13% 73,125 $1.5M No change
ECL Ecolab Inc. 0.12% 5,658 $1.5M No change
UL Unilever PLC 0.11% 21,600 $1.3M Reduce -0.1%
STX Seagate Technology Holdings 0.11% 9,025 $1.3M No change
SYY Sysco Corp. 0.10% 16,599 $1.3M Reduce -0.9%
MTX Minerals Technologies Inc. 0.10% 22,782 $1.3M No change
CMCSA Comcast Corp. Class A 0.10% 34,778 $1.2M No change
EOG EOG Resources Inc. 0.10% 10,095 $1.2M No change
VST Vistra Corp. 0.10% 6,200 $1.2M No change
PFE Pfizer Inc. 0.09% 46,366 $1.1M Reduce -0.7%
KR Kroger Co. 0.09% 15,300 $1.1M No change
GEV GE Vernova Inc. 0.09% 2,052 $1.1M Reduce -0.1%
BMY Bristol-Myers Squibb Co. 0.08% 21,247 $984K Reduce -0.5%
TT Trane Technologies PLC 0.08% 2,190 $958K Reduce -14.6%
DD Dupont DE Nemours Inc. 0.07% 12,824 $880K Reduce -20.7%
FNLC First Bancorp Inc. 0.07% 34,125 $867K No change
NVS Novartis AG-Sponsored ADR 0.07% 6,850 $829K No change
MMM 3M Co. 0.07% 5,400 $822K No change
GNR State Street SPDR S&P Global 0.06% 14,500 $786K No change
META Meta Platforms Inc. Class A 0.06% 1,027 $758K Add +2.5%
UTZ Utz Brands Inc. 0.06% 54,484 $684K No change
WEN The Wendy's Co. 0.05% 58,728 $671K Reduce -0.3%
GPC Genuine Parts Co. 0.05% 5,500 $667K No change
QCOM Qualcomm Inc. 0.05% 4,100 $653K No change
NWSA News Corp. Class A 0.05% 21,937 $652K Reduce -0.0%
GIS General Mills Inc. 0.05% 11,942 $619K No change
COP Conocophillips 0.05% 6,850 $615K No change
PANW Palo Alto Networks Inc. 0.05% 3,000 $614K No change
KO The Coca-Cola Co. 0.05% 8,170 $578K No change
NI Nisource Inc. 0.05% 13,950 $563K No change
KMB Kimberly-Clark Corp. 0.05% 4,350 $561K No change
LITE Lumentum Holdings Inc. 0.05% 5,874 $558K No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.04% 7,114 $523K No change
FUL H.B. Fuller Co. filed as FULLER H B CO 0.04% 8,650 $520K No change
DOW Dow Inc. 0.04% 19,363 $513K No change
NFLX Netflix Inc. 0.04% 375 $502K No change
CTVA Corteva Inc. 0.04% 6,651 $496K No change
KWR Quaker Chemical Corporation 0.04% 3,982 $446K Reduce -0.3%
SW Smurfit Westrock PLC 0.04% 10,250 $442K No change
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.04% 4,500 $442K No change
FMC FMC Corp. 0.03% 10,000 $418K No change
HES Hess Corp. 0.03% 3,000 $416K No change
WMT Walmart Inc. 0.03% 4,178 $409K Reduce -4.7%

Show all 339 holdings

Other holdings (3): bonds, preferreds, convertibles and warrants · $51K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 25$29KNew
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 300$20KNew
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 81$2KNo change

Total filed on the 13F, all lines: $1.2B.

Portfolio Sells Q1 2025 → Q2 2025
GOOGL Alphabet Inc. Class A Reduce -38.5% 2.45% −1.20
CPRT Copart Inc. Reduce -1.2% 4.88% −1.06
AAPL Apple Inc. Reduce -1.1% 4.91% −0.70
LLY Eli Lilly & Co. Reduce -1.0% 2.81% −0.33
WCN Waste Connections Inc. Reduce -0.3% 2.85% −0.27
WM Waste Management Inc. Reduce -0.2% 3.91% −0.23
UPS United Parcel Service Class B Reduce -3.9% 1.12% −0.20
OC Owens Corning Reduce -0.1% 2.29% −0.20
MRK Merck & Co. Inc. Reduce -0.1% 1.05% −0.19
TRV The Travelers Cos Inc. Sold out 0.00% −0.19
HD Home Depot Inc. Reduce -0.3% 3.53% −0.16
XOM Exxon Mobil Corp. Reduce -0.0% 0.86% −0.13
TJX TJX Companies Inc. Reduce -0.7% 3.37% −0.12
GOOG Alphabet Inc. Class C Reduce -30.8% 0.34% −0.11
V Visa Inc. Class A Reduce -0.4% 3.10% −0.10
MA Mastercard Inc. Class A Reduce -0.9% 3.68% −0.10
CVX Chevron Corp. Reduce -0.1% 0.44% −0.10
AMGN Amgen Inc. Reduce -0.1% 0.34% −0.06
DD Dupont DE Nemours Inc. Reduce -20.7% 0.07% −0.03
BMY Bristol-Myers Squibb Co. Reduce -0.5% 0.08% −0.03
CAC Camden National Corp. Reduce -0.8% 0.49% −0.02
GD General Dynamics Corp. Sold out 0.00% −0.02
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.02
WEN The Wendy's Co. Reduce -0.3% 0.05% −0.02
PEP Pepsico Inc. Reduce -11.8% 0.03% −0.01
PFE Pfizer Inc. Reduce -0.7% 0.09% −0.01
TFX Teleflex Inc. Reduce -5.4% 0.03% −0.01
SYK Stryker Corp. Reduce -50.0% 0.01% −0.01
KWR Quaker Chemical Corporation Reduce -0.3% 0.04% −0.01
RTX RTX Corp. Sold out 0.00% −0.01
CAG Conagra Brands Inc. Reduce -0.6% 0.01% −0.00
SYY Sysco Corp. Reduce -0.9% 0.10% −0.00
SHAK Shake Shack Inc. Class A Sold out 0.00% −0.00
COST Costco Wholesale Corp. Reduce -0.4% 5.05% −0.00
TGT Target Corp. Sold out 0.00% −0.00
ADBE Adobe Inc. Reduce -9.9% 0.02% −0.00
UL Unilever PLC Reduce -0.1% 0.11% −0.00
LNT Alliant Energy Corp. Reduce -25.0% 0.00% −0.00
SLVM Sylvamo Corp. Reduce -0.1% 0.00% −0.00
EVRG Evergy Inc. Reduce -0.6% 0.02% −0.00
VLO Valero Energy Corp. Sold out 0.00% −0.00
PLAY Dave & Buster's Entertainmen Sold out 0.00% −0.00
KDP Keurig Dr Pepper Inc. Reduce -1.9% 0.01% −0.00
NDLS Noodles & Co. Sold out 0.00% −0.00
LW Lamb Weston Holdings Inc. Reduce -1.5% 0.00% −0.00
SEE Sealed Air Corp. Reduce -50.0% 0.00% −0.00
FOXA Fox Corp. Class A Reduce -1.2% 0.00% −0.00
CNDT Conduent Inc. Sold out 0.00% 0.00
HPQ HP Inc. Sold out 0.00% 0.00
HPE Hewlett Packard Enterprise Sold out 0.00% 0.00

Portfolio Buys Q1 2025 → Q2 2025
MDT Medtronic PLC Add +2141.4% 0.99% +0.94
MRVL Marvell Technology Inc. Add +48575.8% 0.51% +0.51
NVDA Nvidia Corp. Add +2.0% 0.74% +0.22
TRAVELERS COMPANIES INC New 0.19% +0.19
EMR Emerson Electric Co. Add +0.1% 0.74% +0.11
DMRC Digimarc Corp. Add +11.4% 0.69% +0.06
META Meta Platforms Inc. Class A Add +2.5% 0.06% +0.01
RTX CORPORATION New 0.01% +0.01
TARGET CORP New 0.00% +0.00
VOO Vanguard S&P 500 ETF Add +0.3% 0.03% +0.00
KMI Kinder Morgan Inc. Add +15.8% 0.01% +0.00
APH Amphenol Corp. Class A New 0.00% +0.00
INTC Intel Corp. Add +52.1% 0.00% +0.00
GWW WW Grainger Inc. New 0.00% +0.00
NMAX Newsmax Inc. New 0.00% +0.00
KHC The Kraft Heinz Co. Add +0.9% 0.00% −0.00
LIN Linde PLC Add +1.3% 1.32% −0.03

Notes & Other Activity Q1 2025 → Q2 2025
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A New 25 $29K
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A New 300 $20K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 258$1.4BAAPL, MRVL, JPM, AMZN, COST
Q1 2026 258$1.2BAAPL, COST, JPM, AMZN, TJX
Q4 2025 259$1.3BAAPL, JPM, AMZN, MSFT, COST
Q3 2025 304$1.3BJPM, AAPL, MSFT, AMZN, COST
Q2 2025 339$1.2BJPM, COST, MSFT, AMZN, AAPL
Q1 2025 348$1.2BCPRT, AAPL, JPM, COST, AMZN
Q4 2024 354$1.3BAAPL, CPRT, AMZN, JPM, COST
Q3 2024 362$1.3BAAPL, CPRT, COST, JPM, MSFT
Q2 2024 372$1.2BCPRT, AAPL, MSFT, COST, AMZN