Loudon Investment Management, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 6, 2024), Loudon Investment Management, LLC reported 98 stock positions worth $170.0 million. Its top holding was Microsoft (MSFT) at 7.3% of the portfolio, followed by Qualcomm (QCOM, 4.8%) and SS Technology Select Sector (XLK, 4.2%). Compared with Q1 2024, it opened 4 new positions, sold out of 2, added to 19 and reduced 25. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +2%) and the biggest sale Fastenal (FAST, shares −0%).

Most Recent 13F
Q2 2026
Location
MERIDEN, NH
CIK
0001597089
Portfolio Value
$170.0M (Q2 2024)
SEC Filing
0001597089-24-000008 ↗ filed Aug 6, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $174.1M Q1 2024 Q2 2024: $170.0M $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 98 stocks · $170.0M
MSFT Microsoft Corp. 7.28% 27,672 $12.4M Reduce -0.4%
QCOM Qualcomm Inc. 4.76% 40,618 $8.1M Reduce -0.8%
XLK SS Technology Select Sector 4.22% 31,743 $7.2M No change
EPD Enterprise Products Partners 3.61% 211,641 $6.1M No change
FAST Fastenal Co. 3.01% 81,366 $5.1M Reduce -0.4%
LOW Lowe's Cos Inc. 2.90% 22,337 $4.9M Reduce -0.2%
TFC Truist Financial Corp. 2.87% 125,627 $4.9M Reduce -0.3%
SPY SS SPDR S&P 500 ETF Trust-US 2.84% 8,883 $4.8M Add +1.7%
AMGN Amgen Inc. 2.57% 13,967 $4.4M No change
ESS Essex Property Trust Inc. 2.48% 15,502 $4.2M Reduce -2.0%
TGT Target Corp. 2.48% 28,479 $4.2M Reduce -0.1%
G Genpact Ltd. 2.44% 128,935 $4.2M Add +7.9%
ITW Illinois Tool Works 2.44% 17,491 $4.1M No change
ABBV Abbvie Inc. 2.32% 22,969 $3.9M No change
CMCSA Comcast Corp. Class A 2.31% 100,440 $3.9M Add +3.1%
SWK Stanley Black & Decker Inc. 2.23% 47,375 $3.8M Reduce -3.9%
LNC Lincoln National Corp. 2.20% 120,234 $3.7M Add +4.8%
AAPL Apple Inc. 2.15% 17,331 $3.7M Reduce -4.0%
CSCO Cisco Systems Inc. 2.12% 75,870 $3.6M Reduce -1.0%
JPM JPMorgan Chase & Co. 1.94% 16,303 $3.3M No change
CAT Caterpillar Inc. 1.65% 8,418 $2.8M No change
AMP Ameriprise Financial Inc. 1.58% 6,272 $2.7M Reduce -0.2%
DLR Digital Realty Trust Inc. 1.52% 17,050 $2.6M No change
TSM Taiwan Semiconductor-SP ADR 1.49% 14,570 $2.5M No change
USB US Bancorp 1.40% 59,953 $2.4M Reduce -10.0%
AMT American Tower Corp. 1.35% 11,783 $2.3M Add +1.0%
EMR Emerson Electric Co. 1.31% 20,180 $2.2M No change
ADM Archer-Daniels-Midland Co. 1.23% 34,667 $2.1M No change
CMI Cummins Inc. 1.20% 7,372 $2.0M No change
PII Polaris Inc. 1.20% 25,952 $2.0M Add +1.0%
VZ Verizon Communications Inc. 1.19% 49,073 $2.0M No change
UPS United Parcel Service Class B 1.04% 12,905 $1.8M Add +15.2%
MRK Merck & Co. Inc. 0.98% 13,458 $1.7M Reduce -0.6%
PNR Pentair PLC 0.92% 20,382 $1.6M Reduce -22.8%
DE Deere & Co. 0.91% 4,131 $1.5M No change
CVS CVS Health Corp. 0.88% 25,258 $1.5M Reduce -21.0%
AFL Aflac Inc. 0.82% 15,586 $1.4M No change
PEP Pepsico Inc. 0.78% 8,004 $1.3M No change
FRT Federal Realty Invs Trust 0.74% 12,455 $1.3M Reduce -0.2%
CCI Crown Castle Inc. 0.73% 12,772 $1.2M Add +3.2%
GBCI Glacier Bancorp Inc. 0.69% 31,439 $1.2M No change
APD Air Products & Chemicals Inc. 0.68% 4,477 $1.2M Add +12.2%
ADP Automatic Data Processing 0.64% 4,541 $1.1M Add +0.0%
LMT Lockheed Martin Corp. 0.64% 2,319 $1.1M No change
GD General Dynamics Corp. 0.57% 3,338 $968K No change
VTI VG Morningstar TS MKT ETF-US 0.52% 3,294 $881K Reduce -3.7%
JNJ Johnson & Johnson 0.51% 5,951 $870K Reduce -2.1%
CLX Clorox Company 0.46% 5,732 $782K Add +7.6%
VCSH Vanguard S/T Corp. Bond ETF 0.45% 9,802 $757K Reduce -0.7%
O Realty Income Corp. 0.44% 14,170 $748K Add +3.7%
BSV Vanguard Short-Term Bond ETF 0.41% 9,106 $698K No change
PSA Public Storage 0.41% 2,400 $690K No change
INTC Intel Corp. 0.41% 22,252 $689K Reduce -1.1%
TU Telus Corp. 0.40% 45,084 $683K No change
FLOT iShares Floating Rate Bond E 0.39% 13,132 $671K Add +9.6%
XLC SS Comm Select Sector SPDR 0.39% 7,830 $671K No change
VLO Valero Energy Corp. 0.39% 4,219 $661K No change
ENB Enbridge Inc. 0.38% 18,361 $653K Add +12.0%
ABT Abbott Laboratories 0.37% 6,027 $626K No change
MDT Medtronic PLC 0.36% 7,868 $619K Reduce -0.9%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.36% 10,262 $615K No change
VNQ Vanguard Real Estate ETF 0.36% 7,295 $611K No change
SCHD Schwab US DVD Equity ETF 0.35% 7,653 $595K Add +8.7%
EXR Extra Space Storage Inc. 0.35% 3,790 $589K No change
MO Altria Group Inc. 0.34% 12,792 $583K No change
WTRG Essential Utilities Inc. 0.34% 15,463 $577K No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.33% 5,700 $557K No change
SYY Sysco Corp. 0.31% 7,445 $531K No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.28% 4,937 $470K Reduce -47.2%
XOM Exxon Mobil Corp. 0.27% 3,913 $450K No change
IJR iShares Core S&P Small-Cap E 0.27% 4,223 $450K Add +17.2%
WHR Whirlpool Corp. 0.26% 4,332 $443K Add +1.5%
ECL Ecolab Inc. 0.25% 1,786 $425K No change
ACWX iShares MSCI Acwi Ex US ETF 0.24% 7,661 $407K Reduce -1.5%
PG The Procter & Gamble Co. 0.23% 2,387 $394K No change
BLK BlackRock Finance Inc. 0.23% 500 $394K No change
SDY SS SPDR S&P Dividend ETF 0.22% 2,990 $380K No change
PFE Pfizer Inc. 0.21% 12,685 $355K New
BAX Baxter International Inc. 0.21% 10,497 $351K New
NOBL Proshares S&P 500 Dividend A 0.21% 3,650 $351K Add +0.4%
BIL SS SPDR BB 1-3M T-Bill ETF 0.19% 3,487 $320K Add +14.8%
XLF SS Financial Select Sector 0.19% 7,740 $318K No change
FDX FedEx Corp. 0.19% 1,055 $316K No change
PM Philip Morris International 0.18% 3,075 $312K No change
QQQ Invesco QQQ Trust Series 1 0.18% 650 $311K No change
CTSH Cognizant Tech Solutions-A 0.17% 4,282 $291K Reduce -1.2%
CL Colgate-Palmolive Co. 0.17% 2,987 $290K No change
PAYX Paychex Inc. 0.16% 2,350 $279K No change
AOS Smith (a.o.) Corp. 0.16% 3,396 $278K Reduce -4.9%
PPG PPG Industries Inc. 0.15% 2,075 $261K No change
CRWD CrowdStrike Holdings Inc. Class A 0.15% 675 $259K No change
COP Conocophillips 0.15% 2,190 $250K No change
NEE Nextera Energy Inc. 0.14% 3,303 $234K New
NVDA Nvidia Corp. 0.14% 1,860 $230K New
VRTX Vertex Pharmaceuticals Inc. 0.13% 485 $227K No change
PSX Phillips 66 0.13% 1,527 $216K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.12% 1,770 $204K No change
BIV Vanguard Intermediate-Term B 0.12% 2,675 $200K No change

Portfolio Sells Q1 2024 → Q2 2024
FAST Fastenal Co. Reduce -0.4% 3.01% −0.61
CVS CVS Health Corp. Reduce -21.0% 0.88% −0.59
SWK Stanley Black & Decker Inc. Reduce -3.9% 2.23% −0.55
TGT Target Corp. Reduce -0.1% 2.48% −0.42
LOW Lowe's Cos Inc. Reduce -0.2% 2.90% −0.38
PNR Pentair PLC Reduce -22.8% 0.92% −0.38
USB US Bancorp Reduce -10.0% 1.40% −0.31
IFF Intl Flavors & Fragrances Reduce -47.2% 0.28% −0.19
INTC Intel Corp. Reduce -1.1% 0.41% −0.17
SLG SL Green Realty Corp. Sold out 0.00% −0.13
HRL Hormel Foods Corp. Sold out 0.00% −0.12
CSCO Cisco Systems Inc. Reduce -1.0% 2.12% −0.08
MRK Merck & Co. Inc. Reduce -0.6% 0.98% −0.05
JNJ Johnson & Johnson Reduce -2.1% 0.51% −0.04
MDT Medtronic PLC Reduce -0.9% 0.36% −0.03
AOS Smith (a.o.) Corp. Reduce -4.9% 0.16% −0.02
CTSH Cognizant Tech Solutions-A Reduce -1.2% 0.17% −0.01
AMP Ameriprise Financial Inc. Reduce -0.2% 1.58% −0.01
ACWX iShares MSCI Acwi Ex US ETF Reduce -1.5% 0.24% +0.00
VCSH Vanguard S/T Corp. Bond ETF Reduce -0.7% 0.45% +0.01
VTI VG Morningstar TS MKT ETF-US Reduce -3.7% 0.52% +0.01
FRT Federal Realty Invs Trust Reduce -0.2% 0.74% +0.01
TFC Truist Financial Corp. Reduce -0.3% 2.87% +0.05
ESS Essex Property Trust Inc. Reduce -2.0% 2.48% +0.26
AAPL Apple Inc. Reduce -4.0% 2.15% +0.37
MSFT Microsoft Corp. Reduce -0.4% 7.28% +0.56
QCOM Qualcomm Inc. Reduce -0.8% 4.76% +0.78

Portfolio Buys Q1 2024 → Q2 2024
SPY SS SPDR S&P 500 ETF Trust-US Add +1.7% 2.84% +0.22
PFE Pfizer Inc. New 0.21% +0.21
BAX Baxter International Inc. New 0.21% +0.21
G Genpact Ltd. Add +7.9% 2.44% +0.18
NEE Nextera Energy Inc. New 0.14% +0.14
NVDA Nvidia Corp. New 0.14% +0.14
APD Air Products & Chemicals Inc. Add +12.2% 0.68% +0.12
LNC Lincoln National Corp. Add +4.8% 2.20% +0.10
UPS United Parcel Service Class B Add +15.2% 1.04% +0.08
ENB Enbridge Inc. Add +12.0% 0.38% +0.04
FLOT iShares Floating Rate Bond E Add +9.6% 0.39% +0.04
IJR iShares Core S&P Small-Cap E Add +17.2% 0.27% +0.04
BIL SS SPDR BB 1-3M T-Bill ETF Add +14.8% 0.19% +0.03
SCHD Schwab US DVD Equity ETF Add +8.7% 0.35% +0.02
AMT American Tower Corp. Add +1.0% 1.35% +0.02
O Realty Income Corp. Add +3.7% 0.44% +0.02
NOBL Proshares S&P 500 Dividend A Add +0.4% 0.21% −0.01
CLX Clorox Company Add +7.6% 0.46% −0.01
ADP Automatic Data Processing Add +0.0% 0.64% −0.01
CCI Crown Castle Inc. Add +3.2% 0.73% −0.02
WHR Whirlpool Corp. Add +1.5% 0.26% −0.03
CMCSA Comcast Corp. Class A Add +3.1% 2.31% −0.11
PII Polaris Inc. Add +1.0% 1.20% −0.28

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