Loudon Investment Management, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), Loudon Investment Management, LLC reported 96 stock positions worth $174.1 million. Its top holding was Microsoft (MSFT) at 6.7% of the portfolio, followed by Qualcomm (QCOM, 4.0%) and SS Technology Select Sector (XLK, 3.8%). Compared with Q4 2023, it opened 5 new positions, sold out of 3, added to 14 and reduced 50. The biggest buy was a new position in Genpact (G) and the biggest sale Intel (INTC, shares −61%).

Most Recent 13F
Q2 2026
Location
MERIDEN, NH
CIK
0001597089
Portfolio Value
$174.1M (Q1 2024)
SEC Filing
0001597089-24-000006 ↗ filed May 8, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $174.1M $174.1M Q1 2024 Q2 2024: $170.0M Q2 2024 Q3 2024: $182.5M Q3 2024 Q4 2024: $175.9M Q4 2024 Q1 2025: $175.1M Q1 2025 Q2 2025: $180.8M Q2 2025 Q3 2025: $190.9M Q3 2025 Q4 2025: $191.4M Q4 2025 Q1 2026: $185.8M Q1 2026 Q2 2026: $203.7M Q2 2026

Holdings 96 stocks · $174.1M
MSFT Microsoft Corp. 6.71% 27,772 $11.7M Reduce -3.8%
QCOM Qualcomm Inc. 3.98% 40,958 $6.9M Reduce -0.7%
XLK SS Technology Select Sector 3.80% 31,743 $6.6M Reduce -0.0%
FAST Fastenal Co. 3.62% 81,671 $6.3M Reduce -1.4%
EPD Enterprise Products Partners 3.55% 211,641 $6.2M No change
LOW Lowe's Cos Inc. 3.28% 22,387 $5.7M No change
TGT Target Corp. 2.90% 28,499 $5.1M Add +25.1%
TFC Truist Financial Corp. 2.82% 126,018 $4.9M Reduce -7.5%
SWK Stanley Black & Decker Inc. 2.77% 49,302 $4.8M Add +0.4%
ITW Illinois Tool Works 2.70% 17,491 $4.7M Reduce -0.6%
SPY SS SPDR S&P 500 ETF Trust-US 2.62% 8,734 $4.6M Add +1.4%
CMCSA Comcast Corp. Class A 2.43% 97,460 $4.2M No change
ABBV Abbvie Inc. 2.40% 22,969 $4.2M Reduce -7.0%
AMGN Amgen Inc. 2.28% 13,967 $4.0M Reduce -0.2%
G Genpact Ltd. 2.26% 119,485 $3.9M New
ESS Essex Property Trust Inc. 2.22% 15,817 $3.9M No change
CSCO Cisco Systems Inc. 2.20% 76,640 $3.8M Reduce -2.8%
LNC Lincoln National Corp. 2.10% 114,674 $3.7M New
JPM JPMorgan Chase & Co. 1.88% 16,303 $3.3M No change
AAPL Apple Inc. 1.78% 18,053 $3.1M Add +0.6%
CAT Caterpillar Inc. 1.77% 8,418 $3.1M Reduce -6.9%
USB US Bancorp 1.71% 66,640 $3.0M Reduce -4.7%
AMP Ameriprise Financial Inc. 1.58% 6,282 $2.8M Reduce -17.6%
PII Polaris Inc. 1.48% 25,697 $2.6M Reduce -6.5%
CVS CVS Health Corp. 1.47% 31,986 $2.6M Add +42.0%
DLR Digital Realty Trust Inc. 1.41% 17,050 $2.5M Reduce -1.1%
AMT American Tower Corp. 1.32% 11,668 $2.3M Add +10.8%
EMR Emerson Electric Co. 1.31% 20,180 $2.3M Reduce -11.4%
PNR Pentair PLC 1.29% 26,387 $2.3M Reduce -1.6%
ADM Archer-Daniels-Midland Co. 1.25% 34,667 $2.2M Reduce -0.8%
CMI Cummins Inc. 1.25% 7,372 $2.2M No change
VZ Verizon Communications Inc. 1.18% 49,073 $2.1M Add +3.8%
TSM Taiwan Semiconductor-SP ADR 1.14% 14,570 $2.0M Reduce -0.7%
MRK Merck & Co. Inc. 1.03% 13,533 $1.8M Reduce -0.7%
DE Deere & Co. 0.97% 4,131 $1.7M Reduce -0.4%
UPS United Parcel Service Class B 0.96% 11,205 $1.7M No change
PEP Pepsico Inc. 0.80% 8,004 $1.4M No change
AFL Aflac Inc. 0.77% 15,586 $1.3M Reduce -17.8%
CCI Crown Castle Inc. 0.75% 12,379 $1.3M Add +37.3%
FRT Federal Realty Invs Trust 0.73% 12,479 $1.3M Add +535.1%
GBCI Glacier Bancorp Inc. 0.73% 31,439 $1.3M No change
ADP Automatic Data Processing 0.65% 4,540 $1.1M No change
LMT Lockheed Martin Corp. 0.61% 2,319 $1.1M Add +0.4%
INTC Intel Corp. 0.57% 22,502 $994K Reduce -61.2%
APD Air Products & Chemicals Inc. 0.56% 3,992 $967K Reduce -6.2%
JNJ Johnson & Johnson 0.55% 6,081 $962K Add +0.2%
GD General Dynamics Corp. 0.54% 3,338 $943K No change
VTI VG Morningstar TS MKT ETF-US 0.51% 3,422 $889K Reduce -6.1%
CLX Clorox Company 0.47% 5,327 $816K Reduce -1.3%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.46% 9,357 $805K No change
VCSH Vanguard S/T Corp. Bond ETF 0.44% 9,872 $763K Reduce -22.5%
O Realty Income Corp. 0.42% 13,670 $740K Add +3.0%
TU Telus Corp. 0.41% 45,084 $722K Reduce -5.7%
VLO Valero Energy Corp. 0.41% 4,219 $720K Reduce -2.3%
BSV Vanguard Short-Term Bond ETF 0.40% 9,106 $698K Reduce -1.3%
PSA Public Storage 0.40% 2,400 $696K No change
MDT Medtronic PLC 0.40% 7,937 $692K Reduce -1.6%
ABT Abbott Laboratories 0.39% 6,027 $685K No change
XLC SS Comm Select Sector SPDR 0.37% 7,830 $639K No change
VNQ Vanguard Real Estate ETF 0.36% 7,295 $631K No change
FLOT iShares Floating Rate Bond E 0.35% 11,987 $612K Reduce -8.1%
SYY Sysco Corp. 0.35% 7,445 $604K Reduce -2.6%
ENB Enbridge Inc. 0.34% 16,396 $593K Add +27.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.34% 10,262 $591K Reduce -20.9%
WTRG Essential Utilities Inc. 0.33% 15,463 $573K No change
SCHD Schwab US DVD Equity ETF 0.33% 7,038 $567K Reduce -0.8%
MO Altria Group Inc. 0.32% 12,792 $558K Reduce -32.4%
EXR Extra Space Storage Inc. 0.32% 3,790 $557K No change
WHR Whirlpool Corp. 0.29% 4,267 $510K Reduce -13.7%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.29% 5,700 $498K Reduce -20.8%
XOM Exxon Mobil Corp. 0.26% 3,913 $455K No change
BLK BlackRock Finance Inc. 0.24% 500 $417K Reduce -46.6%
ACWX iShares MSCI Acwi Ex US ETF 0.24% 7,781 $415K Reduce -8.3%
ECL Ecolab Inc. 0.24% 1,786 $412K No change
IJR iShares Core S&P Small-Cap E 0.23% 3,603 $398K New
SDY SS SPDR S&P Dividend ETF 0.23% 2,990 $392K Reduce -1.8%
PG The Procter & Gamble Co. 0.22% 2,387 $387K Reduce -7.7%
NOBL Proshares S&P 500 Dividend A 0.21% 3,635 $369K Reduce -25.0%
XLF SS Financial Select Sector 0.19% 7,740 $326K No change
AOS Smith (a.o.) Corp. 0.18% 3,571 $319K Reduce -36.0%
CTSH Cognizant Tech Solutions-A 0.18% 4,335 $318K No change
FDX FedEx Corp. 0.18% 1,055 $306K Reduce -8.7%
PPG PPG Industries Inc. 0.17% 2,075 $301K No change
QQQ Invesco QQQ Trust Series 1 0.17% 650 $289K No change
PAYX Paychex Inc. 0.17% 2,350 $289K No change
PM Philip Morris International 0.16% 3,075 $282K Reduce -3.6%
BIL SS SPDR BB 1-3M T-Bill ETF 0.16% 3,037 $279K Add +9.0%
COP Conocophillips 0.16% 2,190 $279K No change
CL Colgate-Palmolive Co. 0.15% 2,987 $269K No change
PSX Phillips 66 0.14% 1,527 $249K Reduce -6.2%
SLG SL Green Realty Corp. 0.13% 4,063 $224K Reduce -75.1%
CRWD CrowdStrike Holdings Inc. Class A 0.12% 675 $216K New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.12% 1,770 $216K Reduce -90.9%
HRL Hormel Foods Corp. 0.12% 6,075 $212K Reduce -5.1%
VRTX Vertex Pharmaceuticals Inc. 0.12% 485 $203K New
BIV Vanguard Intermediate-Term B 0.12% 2,675 $202K Reduce -14.3%

Portfolio Sells Q4 2023 → Q1 2024
INTC Intel Corp. Reduce -61.2% 0.57% −1.23
TROW T Rowe Price Group Inc. Reduce -90.9% 0.12% −1.17
LEG Leggett & Platt Inc. Sold out 0.00% −0.60
SLG SL Green Realty Corp. Reduce -75.1% 0.13% −0.33
ADM Archer-Daniels-Midland Co. Reduce -0.8% 1.25% −0.31
TFC Truist Financial Corp. Reduce -7.5% 2.82% −0.29
CSCO Cisco Systems Inc. Reduce -2.8% 2.20% −0.27
RHI Robert Half Inc. Sold out 0.00% −0.26
BLK BlackRock Finance Inc. Reduce -46.6% 0.24% −0.23
AMGN Amgen Inc. Reduce -0.2% 2.28% −0.21
AMP Ameriprise Financial Inc. Reduce -17.6% 1.58% −0.21
AFL Aflac Inc. Reduce -17.8% 0.77% −0.20
VCSH Vanguard S/T Corp. Bond ETF Reduce -22.5% 0.44% −0.17
APD Air Products & Chemicals Inc. Reduce -6.2% 0.56% −0.17
PFE Pfizer Inc. Sold out 0.00% −0.16
USB US Bancorp Reduce -4.7% 1.71% −0.16
ITW Illinois Tool Works Reduce -0.6% 2.70% −0.15
MO Altria Group Inc. Reduce -32.4% 0.32% −0.15
PII Polaris Inc. Reduce -6.5% 1.48% −0.13
TU Telus Corp. Reduce -5.7% 0.41% −0.11
AOS Smith (a.o.) Corp. Reduce -36.0% 0.18% −0.10
WHR Whirlpool Corp. Reduce -13.7% 0.29% −0.08
BNY Bank of New York Mellon Corp. Reduce -20.9% 0.34% −0.08
NOBL Proshares S&P 500 Dividend A Reduce -25.0% 0.21% −0.07
FLOT iShares Floating Rate Bond E Reduce -8.1% 0.35% −0.06
EMR Emerson Electric Co. Reduce -11.4% 1.31% −0.06
DE Deere & Co. Reduce -0.4% 0.97% −0.05
BSV Vanguard Short-Term Bond ETF Reduce -1.3% 0.40% −0.04
TTD Trade Desk Inc./the Class A Reduce -20.8% 0.29% −0.03
BIV Vanguard Intermediate-Term B Reduce -14.3% 0.12% −0.03
ACWX iShares MSCI Acwi Ex US ETF Reduce -8.3% 0.24% −0.03
DLR Digital Realty Trust Inc. Reduce -1.1% 1.41% −0.02
PM Philip Morris International Reduce -3.6% 0.16% −0.02
VTI VG Morningstar TS MKT ETF-US Reduce -6.1% 0.51% −0.02
MDT Medtronic PLC Reduce -1.6% 0.40% −0.01
PG The Procter & Gamble Co. Reduce -7.7% 0.22% −0.01
SDY SS SPDR S&P Dividend ETF Reduce -1.8% 0.23% −0.01
SCHD Schwab US DVD Equity ETF Reduce -0.8% 0.33% −0.01
CLX Clorox Company Reduce -1.3% 0.47% −0.01
HRL Hormel Foods Corp. Reduce -5.1% 0.12% −0.01
FDX FedEx Corp. Reduce -8.7% 0.18% −0.01
MSFT Microsoft Corp. Reduce -3.8% 6.71% −0.00
SYY Sysco Corp. Reduce -2.6% 0.35% +0.00
PSX Phillips 66 Reduce -6.2% 0.14% +0.01
XLK SS Technology Select Sector Reduce -0.0% 3.80% +0.02
ABBV Abbvie Inc. Reduce -7.0% 2.40% +0.04
VLO Valero Energy Corp. Reduce -2.3% 0.41% +0.07
PNR Pentair PLC Reduce -1.6% 1.29% +0.09
MRK Merck & Co. Inc. Reduce -0.7% 1.03% +0.11
CAT Caterpillar Inc. Reduce -6.9% 1.77% +0.12

Portfolio Buys Q4 2023 → Q1 2024
G Genpact Ltd. New 2.26% +2.26
LNC Lincoln National Corp. New 2.10% +2.10
TGT Target Corp. Add +25.1% 2.90% +0.89
FRT Federal Realty Invs Trust Add +535.1% 0.73% +0.61
CVS CVS Health Corp. Add +42.0% 1.47% +0.37
IJR iShares Core S&P Small-Cap E New 0.23% +0.23
CRWD CrowdStrike Holdings Inc. Class A New 0.12% +0.12
VRTX Vertex Pharmaceuticals Inc. New 0.12% +0.12
CCI Crown Castle Inc. Add +37.3% 0.75% +0.11
SPY SS SPDR S&P 500 ETF Trust-US Add +1.4% 2.62% +0.09
VZ Verizon Communications Inc. Add +3.8% 1.18% +0.08
ENB Enbridge Inc. Add +27.1% 0.34% +0.05
BIL SS SPDR BB 1-3M T-Bill ETF Add +9.0% 0.16% +0.00
JNJ Johnson & Johnson Add +0.2% 0.55% −0.04
LMT Lockheed Martin Corp. Add +0.4% 0.61% −0.04
O Realty Income Corp. Add +3.0% 0.42% −0.05
AMT American Tower Corp. Add +10.8% 1.32% −0.08
SWK Stanley Black & Decker Inc. Add +0.4% 2.77% −0.21
AAPL Apple Inc. Add +0.6% 1.78% −0.36

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 95$203.7MXLK, MSFT, CSCO, EPD, FAST
Q1 2026 95$185.8MMSFT, XLK, EPD, FAST, SPY
Q4 2025 93$191.4MMSFT, XLK, EPD, G, SPY
Q3 2025 94$190.9MMSFT, XLK, FAST, EPD, SPY
Q2 2025 99$180.8MMSFT, XLK, EPD, FAST, G
Q1 2025 96$175.1MMSFT, EPD, G, XLK, FAST
Q4 2024 96$175.9MMSFT, XLK, EPD, QCOM, G
Q3 2024 97$182.5MMSFT, XLK, QCOM, EPD, LOW
Q2 2024 98$170.0MMSFT, QCOM, XLK, EPD, FAST
Q1 2024 96$174.1MMSFT, QCOM, XLK, FAST, EPD