Long Road Investment Counsel, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), Long Road Investment Counsel, LLC reported 70 stock positions worth $238.4 million. Its top holding was O'reilly Automotive (ORLY) at 11.2% of the portfolio, followed by Stryker (SYK, 6.3%) and Automatic Data Processing (ADP, 5.5%). Compared with Q4 2023, it opened 1 new position, added to 21 and reduced 22. The biggest buy was O'reilly Automotive (ORLY, shares +1%) and the biggest sale Alphabet Class C (GOOG, shares −45%).

Most Recent 13F
Q2 2026
Location
Kalamazoo, MI
CIK
0001620081
Portfolio Value
$238.4M (Q1 2024)
SEC Filing
0000905729-24-000090 ↗ filed May 8, 2024

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $238.4M $238.4M Q1 2024 Q2 2024: $229.7M Q2 2024 Q3 2024: $251.2M Q3 2024 Q4 2024: $245.1M Q4 2024 Q1 2025: $257.7M Q1 2025 Q2 2025: $267.8M Q2 2025 Q3 2025: $282.5M Q3 2025 Q4 2025: $264.0M Q4 2025 Q1 2026: $255.0M Q1 2026 Q2 2026: $271.3M Q2 2026

Holdings 70 stocks · $238.4M
ORLY O'reilly Automotive Inc. 11.23% 23,726 $26.8M Add +0.6%
SYK Stryker Corp. 6.32% 42,125 $15.1M Reduce -1.1%
ADP Automatic Data Processing 5.47% 52,189 $13.0M Reduce -2.8%
ITW Illinois Tool Works 4.35% 38,678 $10.4M Add +0.9%
ORCL Oracle Corp. 3.89% 73,890 $9.3M Reduce -7.7%
FAST Fastenal Co. 3.86% 119,395 $9.2M Reduce -14.3%
GOOG Alphabet Inc. Class C 3.16% 49,480 $7.5M Reduce -45.4%
GOOGL Alphabet Inc. Class A 3.09% 48,740 $7.4M Reduce -45.7%
ICE Intercontinental Exchange Inc. 2.93% 50,835 $7.0M Reduce -17.8%
KMX Carmax Inc. 2.82% 77,200 $6.7M Reduce -5.5%
WEX Wex Inc. 2.65% 26,599 $6.3M Reduce -5.3%
ACN Accenture PLC Class A 2.64% 18,170 $6.3M Add +1.4%
SBUX Starbucks Corp. 2.58% 67,270 $6.1M Reduce -2.9%
AAPL Apple Inc. 2.47% 34,351 $5.9M Reduce -5.5%
IDXX Idexx Laboratories Inc. 2.37% 10,450 $5.6M Reduce -6.3%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 2.22% 34,384 $5.3M Add +1.8%
PEP Pepsico Inc. 2.08% 28,300 $5.0M No change
OMC Omnicom Group 2.05% 50,560 $4.9M Reduce -3.2%
EXPD Expeditors Intl Wash Inc. 1.92% 37,700 $4.6M Add +0.9%
TMO Thermo Fisher Scientific Inc. 1.81% 7,421 $4.3M Reduce -11.3%
RBA RB Global Inc. 1.79% 55,990 $4.3M Add +1.9%
BDX Becton Dickinson and Co. 1.70% 16,332 $4.0M Reduce -1.5%
AFL Aflac Inc. 1.65% 45,700 $3.9M Reduce -11.1%
BR Broadridge Financial Solutio 1.48% 17,200 $3.5M Add +1.5%
APD Air Products & Chemicals Inc. 1.48% 14,515 $3.5M Add +1.0%
INTU Intuit Inc. 1.41% 5,170 $3.4M No change
DORM Dorman Products Inc. 1.13% 27,850 $2.7M Reduce -6.9%
GE General Electric 1.04% 14,105 $2.5M Reduce -1.8%
AMG Affiliated Managers Group 1.02% 14,535 $2.4M Reduce -4.9%
FIS Fidelity National Info Serv 1.01% 32,320 $2.4M Reduce -4.1%
CTAS Cintas Corp. 0.99% 3,450 $2.4M No change
JNJ Johnson & Johnson 0.92% 13,835 $2.2M No change
GILD Gilead Sciences Inc. 0.74% 24,250 $1.8M Add +1.3%
STT State Street Corp. 0.71% 22,001 $1.7M Add +2.1%
GEN Gen Digital Inc. 0.71% 75,475 $1.7M Add +1.3%
BWA Borgwarner Inc. 0.67% 46,030 $1.6M Reduce -6.1%
EFX Equifax Inc. 0.67% 5,966 $1.6M No change
CAKE The Cheesecake Factory Inc. 0.65% 43,100 $1.6M Add +1.1%
ABT Abbott Laboratories 0.62% 12,970 $1.5M No change
MCO Moody's Corp. 0.61% 3,679 $1.4M No change
MSFT Microsoft Corp. 0.55% 3,117 $1.3M No change
BRK.A Berkshire Hathaway Inc. Class A 0.53% 2 $1.3M No change
SYY Sysco Corp. 0.53% 15,560 $1.3M No change
EFA iShares MSCI Eafe ETF 0.50% 14,990 $1.2M Add +1.4%
ADBE Adobe Inc. 0.49% 2,300 $1.2M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.45% 2,064 $1.1M No change
WBA Walgreens Boots Alliance Inc. 0.43% 47,750 $1.0M Add +1.3%
PYPL PayPal Holdings Inc. 0.42% 15,000 $1.0M Add +2.0%
ABBV Abbvie Inc. 0.42% 5,475 $997K No change
GNTX Gentex Corp. 0.40% 26,300 $950K No change
PG The Procter & Gamble Co. 0.36% 5,351 $868K No change
SMG Scotts Miracle-Gro Co. 0.36% 11,550 $862K Add +2.7%
VWO Vanguard Ftse Emerging Marke 0.33% 18,980 $793K Add +1.1%
J Jacobs Solutions Inc. 0.31% 4,825 $742K No change
TSCO Tractor Supply Company 0.26% 2,400 $628K No change
AMGN Amgen Inc. 0.26% 2,200 $626K New
XOM Exxon Mobil Corp. 0.25% 5,175 $602K No change
BOOT Boot Barn Holdings Inc. 0.25% 6,175 $588K Add +4.2%
MDY State Street SPDR S&P Midcap 0.23% 1,005 $559K Add +2.0%
MDT Medtronic PLC 0.23% 6,400 $558K No change
GEHC GE Healthcare Technology 0.22% 5,844 $531K Add +13.6%
WU Western Union Co. 0.21% 36,487 $510K Reduce -1.6%
PHIN Phinia Inc. 0.19% 11,706 $450K Add +19.4%
KNX Knight-Swift Transportation 0.18% 8,005 $440K No change
ECL Ecolab Inc. 0.16% 1,680 $388K No change
COST Costco Wholesale Corp. 0.13% 408 $299K No change
BRK.B Berkshire Hathaway Inc. Class B 0.12% 700 $294K No change
LOW Lowe's Cos Inc. 0.10% 950 $242K No change
PFE Pfizer Inc. 0.09% 8,035 $223K No change
DLB Dolby Laboratories Inc. Class A 0.09% 2,525 $212K No change

Portfolio Sells Q4 2023 → Q1 2024
GOOG Alphabet Inc. Class C Reduce -45.4% 3.16% −2.17
GOOGL Alphabet Inc. Class A Reduce -45.7% 3.09% −2.13
ICE Intercontinental Exchange Inc. Reduce -17.8% 2.93% −0.34
AAPL Apple Inc. Reduce -5.5% 2.47% −0.31
AFL Aflac Inc. Reduce -11.1% 1.65% −0.15
SBUX Starbucks Corp. Reduce -2.9% 2.58% −0.10
FAST Fastenal Co. Reduce -14.3% 3.86% −0.09
TMO Thermo Fisher Scientific Inc. Reduce -11.3% 1.81% −0.06
BWA Borgwarner Inc. Reduce -6.1% 0.67% −0.02
IDXX Idexx Laboratories Inc. Reduce -6.3% 2.37% −0.02
ADP Automatic Data Processing Reduce -2.8% 5.47% −0.01
WU Western Union Co. Reduce -1.6% 0.21% +0.02
BDX Becton Dickinson and Co. Reduce -1.5% 1.70% +0.05
AMG Affiliated Managers Group Reduce -4.9% 1.02% +0.08
OMC Omnicom Group Reduce -3.2% 2.05% +0.09
DORM Dorman Products Inc. Reduce -6.9% 1.13% +0.12
FIS Fidelity National Info Serv Reduce -4.1% 1.01% +0.13
ORCL Oracle Corp. Reduce -7.7% 3.89% +0.18
GE General Electric Reduce -1.8% 1.04% +0.25
WEX Wex Inc. Reduce -5.3% 2.65% +0.27
SYK Stryker Corp. Reduce -1.1% 6.32% +0.39
KMX Carmax Inc. Reduce -5.5% 2.82% +0.41

Portfolio Buys Q4 2023 → Q1 2024
ORLY O'reilly Automotive Inc. Add +0.6% 11.23% +1.22
EL Estee Lauder Companies Class A Add +1.8% 2.22% +0.37
RBA RB Global Inc. Add +1.9% 1.79% +0.33
AMGN Amgen Inc. New 0.26% +0.26
ITW Illinois Tool Works Add +0.9% 4.35% +0.20
SMG Scotts Miracle-Gro Co. Add +2.7% 0.36% +0.10
BOOT Boot Barn Holdings Inc. Add +4.2% 0.25% +0.07
GEHC GE Healthcare Technology Add +13.6% 0.22% +0.07
PHIN Phinia Inc. Add +19.4% 0.19% +0.07
STT State Street Corp. Add +2.1% 0.71% +0.05
PYPL PayPal Holdings Inc. Add +2.0% 0.42% +0.05
CAKE The Cheesecake Factory Inc. Add +1.1% 0.65% +0.04
EFA iShares MSCI Eafe ETF Add +1.4% 0.50% +0.04
BR Broadridge Financial Solutio Add +1.5% 1.48% +0.04
MDY State Street SPDR S&P Midcap Add +2.0% 0.23% +0.03
VWO Vanguard Ftse Emerging Marke Add +1.1% 0.33% +0.02
WBA Walgreens Boots Alliance Inc. Add +1.3% 0.43% −0.01
GEN Gen Digital Inc. Add +1.3% 0.71% −0.02
GILD Gilead Sciences Inc. Add +1.3% 0.74% −0.03
EXPD Expeditors Intl Wash Inc. Add +0.9% 1.92% −0.04
APD Air Products & Chemicals Inc. Add +1.0% 1.48% −0.05
ACN Accenture PLC Class A Add +1.4% 2.64% −0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 80$271.3MORLY, GOOG, GOOGL, SYK, ADP
Q1 2026 78$255.0MORLY, SYK, GOOG, GOOGL, FAST
Q4 2025 79$264.0MORLY, SYK, GOOG, GOOGL, ADP
Q3 2025 80$282.5MORLY, ORCL, SYK, ADP, FAST
Q2 2025 80$267.8MORLY, SYK, ADP, ORCL, FAST
Q1 2025 80$257.7MORLY, ADP, SYK, ORCL, FAST
Q4 2024 71$245.1MORLY, ADP, SYK, ORCL, ITW
Q3 2024 71$251.2MORLY, SYK, ADP, ORCL, ITW
Q2 2024 71$229.7MORLY, SYK, ADP, ORCL, ITW
Q1 2024 70$238.4MORLY, SYK, ADP, ITW, ORCL