KLCM Advisors, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), KLCM Advisors, Inc. reported 247 stock positions worth $1.2 billion. Its top holding was Nvidia (NVDA) at 23.8% of the portfolio, followed by Apple (AAPL, 6.3%) and Ati (ATI, 3.2%). Compared with Q3 2025, it opened 90 new positions, sold out of 23, added to 58 and reduced 74. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale Organon (OGN, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001166620
- Portfolio Value
- $1.2B (Q4 2025)
- SEC Filing
- 0001166620-26-000001 ↗ filed Feb 4, 2026
Holdings Value
Holdings 247 stocks · $1.2B
| NVDA Nvidia Corp. | 23.80% | 1,484,346 | $276.8M | Add +2.9% |
| AAPL Apple Inc. | 6.35% | 271,533 | $73.8M | Add +1.3% |
| ATI Ati Inc. | 3.18% | 322,664 | $37.0M | Reduce -8.8% |
| BA The Boeing Co. | 2.94% | 157,593 | $34.2M | Add +4.4% |
| C Citigroup Inc. | 2.59% | 257,877 | $30.1M | Reduce -4.0% |
| META Meta Platforms Inc. Class A | 2.05% | 36,124 | $23.8M | Reduce -0.1% |
| WFC Wells Fargo & Co. | 1.79% | 222,740 | $20.8M | Reduce -3.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.71% | 29,165 | $19.9M | New |
| UPS United Parcel Service Class B | 1.65% | 193,814 | $19.2M | Reduce -6.9% |
| HAL Halliburton Co. | 1.63% | 672,387 | $19.0M | Reduce -0.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.50% | 316,124 | $17.4M | Reduce -2.2% |
| BMY Bristol-Myers Squibb Co. | 1.49% | 320,185 | $17.3M | Reduce -0.5% |
| APA Apa Corp. | 1.48% | 703,918 | $17.2M | Add +1.0% |
| MCS Marcus Corporation | 1.45% | 1,085,909 | $16.8M | Add +7.0% |
| BLDR Builders Firstsource Inc. | 1.43% | 161,585 | $16.6M | Reduce -0.7% |
| TFC Truist Financial Corp. | 1.41% | 333,583 | $16.4M | Reduce -1.7% |
| CSCO Cisco Systems Inc. | 1.39% | 209,763 | $16.2M | Reduce -4.2% |
| MAN Manpowergroup Inc. | 1.37% | 535,580 | $15.9M | Reduce -3.8% |
| HXL Hexcel Corp. | 1.24% | 195,184 | $14.4M | Reduce -8.1% |
| GT Goodyear Tire & Rubber Co. | 1.23% | 1,633,278 | $14.3M | Reduce -3.9% |
| GTES Gates Industrial Corp. UK Ltd. | 1.23% | 665,529 | $14.3M | Reduce -1.5% |
| AVGO Broadcom Inc. | 1.19% | 40,116 | $13.9M | Add +0.1% |
| GM General Motors Co. | 1.19% | 169,461 | $13.8M | Reduce -6.0% |
| VTI VG Morningstar TS MKT ETF-US | 1.18% | 40,855 | $13.7M | New |
| VZ Verizon Communications Inc. | 1.17% | 332,755 | $13.6M | Reduce -3.2% |
| CAG Conagra Brands Inc. | 1.07% | 721,076 | $12.5M | Reduce -13.3% |
| MSFT Microsoft Corp. | 1.07% | 25,794 | $12.5M | Add +15.3% |
| ZBH Zimmer Biomet Holdings Inc. | 1.01% | 131,141 | $11.8M | Add +80.3% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.01% | 173,775 | $11.7M | New |
| OLN Olin Corp. | 0.84% | 467,161 | $9.7M | Add +4992.2% |
| NKE Nike Inc. Class B | 0.80% | 146,684 | $9.3M | Reduce -1.1% |
| DOW Dow Inc. | 0.80% | 397,621 | $9.3M | Reduce -15.5% |
| TGT Target Corp. | 0.78% | 93,387 | $9.1M | Reduce -2.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.78% | 79,946 | $9.1M | Reduce -3.8% |
| BBY Best Buy Co. Inc. | 0.73% | 126,899 | $8.5M | Add +19.4% |
| TPL Texas Pacific Land Corp. | 0.73% | 29,490 | $8.5M | Add +96.0% |
| GOOGL Alphabet Inc. Class A | 0.62% | 22,877 | $7.2M | Add +66.1% |
| AMZN Amazon.com Inc. | 0.61% | 30,646 | $7.1M | Add +14.4% |
| USB US Bancorp | 0.60% | 131,292 | $7.0M | Add +2.6% |
| LPX Louisiana-Pacific Corp. | 0.58% | 83,869 | $6.8M | Add +9.8% |
| PTEN Patterson-Uti Energy Inc. | 0.58% | 1,107,932 | $6.8M | Reduce -10.0% |
| RSP Invesco S&P 500 Equal Weight | 0.52% | 31,357 | $6.0M | New |
| ASLV Allspring SPCL Large Val ETF | 0.48% | 199,574 | $5.6M | New |
| GOOG Alphabet Inc. Class C | 0.48% | 17,656 | $5.5M | Add +7.6% |
| IWD iShares Russell 1000 Value E | 0.46% | 25,436 | $5.4M | New |
| JPM JPMorgan Chase & Co. | 0.41% | 14,722 | $4.7M | Reduce -2.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.40% | 7,619 | $4.7M | New |
| CAT Caterpillar Inc. | 0.40% | 8,125 | $4.7M | Add +188.5% |
| IWM iShares Russell 2000 ETF | 0.40% | 18,794 | $4.6M | New |
| WEC WEC Energy Group Inc. | 0.38% | 42,194 | $4.4M | Add +1.6% |
| XOM Exxon Mobil Corp. | 0.36% | 34,648 | $4.2M | Add +29.0% |
| CVX Chevron Corp. | 0.36% | 27,324 | $4.2M | Add +1.3% |
| PEP Pepsico Inc. | 0.35% | 28,636 | $4.1M | Add +23.9% |
| PFE Pfizer Inc. | 0.35% | 164,818 | $4.1M | Reduce -5.7% |
| KMB Kimberly-Clark Corp. | 0.34% | 39,740 | $4.0M | Add +114.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.33% | 54,523 | $3.8M | No change |
| WMT Walmart Inc. | 0.30% | 31,044 | $3.5M | Add +153.5% |
| TSLA Tesla Inc. | 0.29% | 7,439 | $3.3M | Reduce -3.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.27% | 6,358 | $3.2M | Reduce -3.6% |
| KEY Keycorp | 0.25% | 142,498 | $2.9M | Add +0.6% |
| VEA Vanguard Ftse Developed ETF | 0.24% | 45,581 | $2.8M | New |
| WY Weyerhaeuser Co. | 0.24% | 118,350 | $2.8M | Add +42.9% |
| JCI Johnson Controls Internation | 0.23% | 22,786 | $2.7M | Add +5.7% |
| AMD Advanced Micro Devices | 0.23% | 12,684 | $2.7M | Add +0.6% |
| LRCX Lam Research Corp. | 0.22% | 15,017 | $2.6M | New |
| COSO Coastal South Bancshares Inc. | 0.22% | 107,617 | $2.5M | Add +18.9% |
| PLTR Palantir Technologies Inc. Class A | 0.21% | 14,010 | $2.5M | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.21% | 4,891 | $2.4M | New |
| VOO Vanguard S&P 500 ETF | 0.20% | 3,789 | $2.4M | New |
| GE General Electric filed as GE AEROSPACE | 0.20% | 7,695 | $2.4M | Reduce -4.0% |
| QCOM Qualcomm Inc. | 0.20% | 13,834 | $2.4M | Add +9.2% |
| FISV Fiserv Inc. | 0.20% | 34,740 | $2.3M | Add +83.4% |
| MCD McDonald's Corp. | 0.19% | 7,148 | $2.2M | Add +107.1% |
| ABBV Abbvie Inc. | 0.19% | 9,493 | $2.2M | Add +0.0% |
| DE Deere & Co. | 0.18% | 4,400 | $2.0M | New |
| PM Philip Morris International | 0.17% | 12,497 | $2.0M | Add +6.3% |
| MTG Mgic Investment Corp. | 0.16% | 62,880 | $1.8M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.15% | 10,018 | $1.7M | Reduce -1.0% |
| CRNT Ceragon Networks Ltd. | 0.14% | 795,500 | $1.7M | Reduce -0.1% |
| NEM Newmont Corp. | 0.14% | 16,683 | $1.7M | Reduce -9.2% |
| XLK SS Technology Select Sector | 0.14% | 11,553 | $1.7M | New |
| JNJ Johnson & Johnson | 0.14% | 8,036 | $1.7M | Add +15.0% |
| NUE Nucor Corp. | 0.14% | 10,131 | $1.7M | Add +2.5% |
| MS Morgan Stanley | 0.14% | 9,107 | $1.6M | Reduce -11.5% |
| V Visa Inc. Class A | 0.13% | 4,366 | $1.5M | Add +20.5% |
| AEHR Aehr Test Systems | 0.13% | 75,000 | $1.5M | No change |
| VIG Vanguard Dividend Apprec ETF | 0.13% | 6,779 | $1.5M | New |
| SCHD Schwab US DVD Equity ETF | 0.13% | 54,239 | $1.5M | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 4,963 | $1.5M | Reduce -4.6% |
| SCHX Schwab US Large-Cap ETF | 0.13% | 54,107 | $1.5M | New |
| MRK Merck & Co. Inc. | 0.12% | 13,689 | $1.4M | Add +2.3% |
| HD Home Depot Inc. | 0.12% | 4,154 | $1.4M | Add +26.7% |
| LLY Eli Lilly & Co. | 0.12% | 1,327 | $1.4M | Add +0.5% |
| COST Costco Wholesale Corp. | 0.12% | 1,650 | $1.4M | Add +13.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.12% | 4,488 | $1.4M | New |
| IVV iShares Core S&P 500 ETF | 0.12% | 1,980 | $1.4M | New |
| T AT&T Inc. | 0.12% | 54,105 | $1.3M | Reduce -2.7% |
| SCHG Schwab US Large-Cap Growth | 0.11% | 40,463 | $1.3M | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.11% | 6,797 | $1.3M | New |
| SCHB Schwab US Broad Market ETF | 0.11% | 49,359 | $1.3M | New |
Options reported separately and not counted above: GT calls ($540K), MAN calls ($226K), NVDA puts ($209K), AVGO puts ($165K), PTEN calls ($138K), DOW calls ($128K), POET calls ($70K), APA calls ($46K), OGN calls ($36K), CAG calls ($8K), SOFI puts ($932), AEM puts ($304).
Other holdings (1): bonds, preferreds, convertibles and warrants · $8K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 100,000 | $8K | New |
Total filed on the 13F, all lines: $1.2B.
Portfolio Sells Q3 2025 → Q4 2025
| OGN Organon & Co. | Reduce -91.2% | 0.06% | −1.13 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.87 |
| MAN Manpowergroup Inc. | Reduce -3.8% | 1.37% | −0.74 |
| META Meta Platforms Inc. Class A | Reduce -0.1% | 2.05% | −0.60 |
| BLDR Builders Firstsource Inc. | Reduce -0.7% | 1.43% | −0.54 |
| CAG Conagra Brands Inc. | Reduce -13.3% | 1.07% | −0.44 |
| GTES Gates Industrial Corp. UK Ltd. | Reduce -1.5% | 1.23% | −0.44 |
| VZ Verizon Communications Inc. | Reduce -3.2% | 1.17% | −0.34 |
| DOW Dow Inc. | Reduce -15.5% | 0.80% | −0.28 |
| NKE Nike Inc. Class B | Reduce -1.1% | 0.80% | −0.23 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.20 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.18 |
| BAC Bank of America Corp. | Reduce -2.2% | 1.50% | −0.17 |
| DIS The Walt Disney Co. | Reduce -3.8% | 0.78% | −0.17 |
| WFC Wells Fargo & Co. | Reduce -3.2% | 1.79% | −0.14 |
| TFC Truist Financial Corp. | Reduce -1.7% | 1.41% | −0.14 |
| C Citigroup Inc. | Reduce -4.0% | 2.59% | −0.13 |
| CSCO Cisco Systems Inc. | Reduce -4.2% | 1.39% | −0.10 |
| PFE Pfizer Inc. | Reduce -5.7% | 0.35% | −0.09 |
| HXL Hexcel Corp. | Reduce -8.1% | 1.24% | −0.09 |
| UPS United Parcel Service Class B | Reduce -6.9% | 1.65% | −0.08 |
| TGT Target Corp. | Reduce -2.7% | 0.78% | −0.07 |
| JPM JPMorgan Chase & Co. | Reduce -2.8% | 0.41% | −0.07 |
| FAST Fastenal Co. | Reduce -8.8% | 0.11% | −0.06 |
| TSLA Tesla Inc. | Reduce -3.9% | 0.29% | −0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.6% | 0.27% | −0.06 |
| PTEN Patterson-Uti Energy Inc. | Reduce -10.0% | 0.58% | −0.05 |
| CLX Clorox Company | Reduce -3.2% | 0.11% | −0.05 |
| ETN Eaton Corp. PLC | Reduce -5.2% | 0.10% | −0.04 |
| CRNT Ceragon Networks Ltd. | Reduce -0.1% | 0.14% | −0.04 |
| T AT&T Inc. | Reduce -2.7% | 0.12% | −0.04 |
| K Kellanova | Sold out | 0.00% | −0.04 |
| GT Goodyear Tire & Rubber Co. | Reduce -3.9% | 1.23% | −0.04 |
| GE General Electric | Reduce -4.0% | 0.20% | −0.04 |
| Marathon Bancorp Inc. | Sold out | 0.00% | −0.04 |
| ABT Abbott Laboratories | Reduce -3.9% | 0.10% | −0.03 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.03 |
| RSG Republic Services Inc. | Sold out | 0.00% | −0.02 |
| MS Morgan Stanley | Reduce -11.5% | 0.14% | −0.02 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.0% | 0.15% | −0.02 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −0.02 |
| HAL Halliburton Co. | Reduce -0.5% | 1.63% | −0.02 |
| MSI Motorola Solutions Inc. | Reduce -12.3% | 0.04% | −0.02 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.02 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.02 |
| IMO Imperial Oil Ltd. | Sold out | 0.00% | −0.02 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.02 |
| RCL Royal Caribbean Cruises Ltd. | Sold out | 0.00% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -4.6% | 0.13% | −0.02 |
| LNT Alliant Energy Corp. | Reduce -0.6% | 0.09% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | New | 1.71% | +1.71 |
| VTI VG Morningstar TS MKT ETF-US | New | 1.18% | +1.18 |
| IFF Intl Flavors & Fragrances | New | 1.01% | +1.01 |
| OLN Olin Corp. | Add +4992.2% | 0.84% | +0.81 |
| RSP Invesco S&P 500 Equal Weight | New | 0.52% | +0.52 |
| ASLV Allspring SPCL Large Val ETF | New | 0.48% | +0.48 |
| IWD iShares Russell 1000 Value E | New | 0.46% | +0.46 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.40% | +0.40 |
| IWM iShares Russell 2000 ETF | New | 0.40% | +0.40 |
| ZBH Zimmer Biomet Holdings Inc. | Add +80.3% | 1.01% | +0.30 |
| GOOGL Alphabet Inc. Class A | Add +66.1% | 0.62% | +0.28 |
| CAT Caterpillar Inc. | Add +188.5% | 0.40% | +0.27 |
| TPL Texas Pacific Land Corp. | Add +96.0% | 0.73% | +0.26 |
| VEA Vanguard Ftse Developed ETF | New | 0.24% | +0.24 |
| LRCX Lam Research Corp. | New | 0.22% | +0.22 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.21% | +0.21 |
| VOO Vanguard S&P 500 ETF | New | 0.20% | +0.20 |
| DE Deere & Co. | New | 0.18% | +0.18 |
| WMT Walmart Inc. | Add +153.5% | 0.30% | +0.17 |
| XLK SS Technology Select Sector | New | 0.14% | +0.14 |
| VIG Vanguard Dividend Apprec ETF | New | 0.13% | +0.13 |
| SCHD Schwab US DVD Equity ETF | New | 0.13% | +0.13 |
| SCHX Schwab US Large-Cap ETF | New | 0.13% | +0.13 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.12% | +0.12 |
| IVV iShares Core S&P 500 ETF | New | 0.12% | +0.12 |
| KMB Kimberly-Clark Corp. | Add +114.1% | 0.34% | +0.11 |
| SCHG Schwab US Large-Cap Growth | New | 0.11% | +0.11 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.11% | +0.11 |
| SCHB Schwab US Broad Market ETF | New | 0.11% | +0.11 |
| DELL Dell Technologies -C | New | 0.11% | +0.11 |
| IWF iShares Russell 1000 Growth | New | 0.11% | +0.11 |
| ITOT iShares Core S&P Total U.S. | New | 0.10% | +0.10 |
| IJJ iShares S&P Mid-Cap 400 Valu | New | 0.09% | +0.09 |
| MCD McDonald's Corp. | Add +107.1% | 0.19% | +0.08 |
| NANR Sta STR SP S&P Nor An Res-Ui | New | 0.08% | +0.08 |
| GOOG Alphabet Inc. Class C | Add +7.6% | 0.48% | +0.08 |
| IWV iShares Russell 3000 ETF | New | 0.07% | +0.07 |
| FNDX Schwab Fndmntl US LRG Co. ETF | New | 0.07% | +0.07 |
| IJR iShares Core S&P Small-Cap E | New | 0.06% | +0.06 |
| EFA iShares MSCI Eafe ETF | New | 0.06% | +0.06 |
| XOM Exxon Mobil Corp. | Add +29.0% | 0.36% | +0.06 |
| XLF SS Financial Select Sector | New | 0.06% | +0.06 |
| VGT Vanguard Info Tech ETF | New | 0.05% | +0.05 |
| VWO Vanguard Ftse Emerging Marke | New | 0.05% | +0.05 |
| IJK iShares S&P Mid-Cap 400 Grow | New | 0.04% | +0.04 |
| SCHV Schwab US Large-Cap Value | New | 0.04% | +0.04 |
| IWO iShares Russell 2000 Growth | New | 0.04% | +0.04 |
| SOFI Sofi Technologies Inc. | Add +117.8% | 0.09% | +0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.04% | +0.04 |
| TCAF T Rowe PRC Cap Appreciation | New | 0.04% | +0.04 |
Options Activity Q3 2025 → Q4 2025
| GT Goodyear Tire & Rubber Co. | call | New | 386,000 | $540K |
| MAN Manpowergroup Inc. | call | New | 62,000 | $226K |
| NVDA Nvidia Corp. | put | New | 79,000 | $209K |
| AVGO Broadcom Inc. | put | New | 34,000 | $165K |
| PTEN Patterson-Uti Energy Inc. | call | New | 75,000 | $138K |
| DOW Dow Inc. | call | New | 25,000 | $128K |
| POET Poet Technologies Inc. | call | New | 50,000 | $70K |
| APA Apa Corp. | call | New | 10,000 | $46K |
| OGN Organon & Co. | call | New | 47,000 | $36K |
| CAG Conagra Brands Inc. | call | New | 40,000 | $8K |
| SOFI Sofi Technologies Inc. | put | New | 15,500 | $932 |
| AEM Agnico Eagle Mines Ltd. | put | New | 10,000 | $304 |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | New | 100,000 | $8K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 283 | $1.2B | NVDA, AAPL, ATI, C, BA |
| Q1 2026 | 256 | $1.1B | NVDA, AAPL, ATI, BA, C |
| Q4 2025 | 247 | $1.2B | NVDA, AAPL, ATI, BA, C |
| Q3 2025 | 180 | $1.0B | NVDA, AAPL, BA, ATI, C |
| Q2 2025 | 179 | $940.6M | NVDA, C, BA, ATI, AAPL |
| Q1 2025 | 178 | $854.8M | NVDA, BA, C, ATI, APA |
| Q4 2024 | 175 | $862.3M | NVDA, BA, C, BMY, ATI |
| Q3 2024 | 170 | $842.6M | NVDA, ATI, BMY, C, BA |
| Q2 2024 | 161 | $809.5M | NVDA, C, BA, NEM, OGN |
| Q1 2024 | 162 | $778.8M | NVDA, C, ATI, BA, WFC |