Loudon Investment Management, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 4, 2024), Loudon Investment Management, LLC reported 97 stock positions worth $182.5 million. Its top holding was Microsoft (MSFT) at 6.5% of the portfolio, followed by SS Technology Select Sector (XLK, 3.9%) and Qualcomm (QCOM, 3.8%). Compared with Q2 2024, it opened 3 new positions, sold out of 4, added to 22 and reduced 32. The biggest buy was Genpact (G, shares +10%) and the biggest sale Qualcomm (QCOM, shares −1%).

Most Recent 13F
Q2 2026
Location
MERIDEN, NH
CIK
0001597089
Portfolio Value
$182.5M (Q3 2024)
SEC Filing
0001597089-24-000010 ↗ filed Nov 4, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $174.1M Q1 2024 Q2 2024: $170.0M Q2 2024 Q3 2024: $182.5M $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 97 stocks · $182.5M
MSFT Microsoft Corp. 6.49% 27,526 $11.8M Reduce -0.5%
XLK SS Technology Select Sector 3.94% 31,858 $7.2M Add +0.4%
QCOM Qualcomm Inc. 3.76% 40,397 $6.9M Reduce -0.5%
EPD Enterprise Products Partners 3.35% 210,116 $6.1M Reduce -0.7%
LOW Lowe's Cos Inc. 3.31% 22,267 $6.0M Reduce -0.3%
FAST Fastenal Co. 3.18% 81,366 $5.8M No change
G Genpact Ltd. 3.04% 141,425 $5.5M Add +9.7%
TFC Truist Financial Corp. 2.89% 123,427 $5.3M Reduce -1.8%
SPY SS SPDR S&P 500 ETF Trust-US 2.86% 9,107 $5.2M Add +2.5%
SWK Stanley Black & Decker Inc. 2.86% 47,325 $5.2M Reduce -0.1%
TGT Target Corp. 2.61% 30,519 $4.8M Add +7.2%
ITW Illinois Tool Works 2.55% 17,731 $4.6M Add +1.4%
ESS Essex Property Trust Inc. 2.51% 15,502 $4.6M No change
AMGN Amgen Inc. 2.43% 13,752 $4.4M Reduce -1.5%
CMCSA Comcast Corp. Class A 2.39% 104,440 $4.4M Add +4.0%
ABBV Abbvie Inc. 2.38% 22,039 $4.4M Reduce -4.0%
LNC Lincoln National Corp. 2.21% 128,274 $4.0M Add +6.7%
AAPL Apple Inc. 2.20% 17,266 $4.0M Reduce -0.4%
CSCO Cisco Systems Inc. 2.19% 75,025 $4.0M Reduce -1.1%
JPM JPMorgan Chase & Co. 1.88% 16,228 $3.4M Reduce -0.5%
CAT Caterpillar Inc. 1.75% 8,163 $3.2M Reduce -3.0%
AMP Ameriprise Financial Inc. 1.60% 6,217 $2.9M Reduce -0.9%
DLR Digital Realty Trust Inc. 1.51% 17,030 $2.8M Reduce -0.1%
AMT American Tower Corp. 1.50% 11,783 $2.7M No change
USB US Bancorp 1.50% 59,718 $2.7M Reduce -0.4%
TSM Taiwan Semiconductor-SP ADR 1.37% 14,417 $2.5M Reduce -1.1%
CMI Cummins Inc. 1.30% 7,346 $2.4M Reduce -0.3%
EMR Emerson Electric Co. 1.21% 20,180 $2.2M No change
VZ Verizon Communications Inc. 1.19% 48,273 $2.2M Reduce -1.6%
ADM Archer-Daniels-Midland Co. 1.13% 34,667 $2.1M No change
PNR Pentair PLC 1.09% 20,382 $2.0M No change
PII Polaris Inc. 1.07% 23,417 $1.9M Reduce -9.8%
DE Deere & Co. 0.94% 4,131 $1.7M No change
AFL Aflac Inc. 0.91% 14,911 $1.7M Reduce -4.3%
UPS United Parcel Service Class B 0.91% 12,205 $1.7M Reduce -5.4%
APD Air Products & Chemicals Inc. 0.89% 5,459 $1.6M Add +21.9%
MRK Merck & Co. Inc. 0.84% 13,458 $1.5M No change
CCI Crown Castle Inc. 0.83% 12,772 $1.5M No change
PEP Pepsico Inc. 0.81% 8,744 $1.5M Add +9.3%
GBCI Glacier Bancorp Inc. 0.79% 31,439 $1.4M No change
LMT Lockheed Martin Corp. 0.74% 2,319 $1.4M No change
FRT Federal Realty Invs Trust 0.74% 11,755 $1.4M Reduce -5.6%
ADP Automatic Data Processing 0.69% 4,541 $1.3M No change
GD General Dynamics Corp. 0.54% 3,258 $985K Reduce -2.4%
VTI VG Morningstar TS MKT ETF-US 0.53% 3,422 $969K Add +3.9%
JNJ Johnson & Johnson 0.53% 5,951 $964K No change
O Realty Income Corp. 0.52% 14,870 $943K Add +4.9%
CLX Clorox Company 0.51% 5,732 $934K No change
VCSH Vanguard S/T Corp. Bond ETF 0.49% 11,191 $889K Add +14.2%
PFE Pfizer Inc. 0.48% 30,485 $882K Add +140.3%
PSA Public Storage 0.48% 2,400 $873K No change
BSV Vanguard Short-Term Bond ETF 0.44% 10,310 $811K Add +13.2%
ENB Enbridge Inc. 0.43% 19,261 $782K Add +4.9%
TU Telus Corp. 0.41% 45,084 $757K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.40% 10,112 $727K Reduce -1.5%
SCHD Schwab US DVD Equity ETF 0.39% 8,462 $715K Add +10.6%
VNQ Vanguard Real Estate ETF 0.39% 7,295 $711K No change
XLC SS Comm Select Sector SPDR 0.39% 7,830 $708K No change
ABT Abbott Laboratories 0.38% 6,027 $687K No change
MDT Medtronic PLC 0.38% 7,611 $685K Reduce -3.3%
EXR Extra Space Storage Inc. 0.37% 3,790 $683K No change
FLOT iShares Floating Rate Bond E 0.37% 13,132 $670K No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.34% 5,700 $625K No change
WTRG Essential Utilities Inc. 0.33% 15,463 $596K No change
SYY Sysco Corp. 0.32% 7,445 $581K No change
VLO Valero Energy Corp. 0.31% 4,219 $570K No change
MO Altria Group Inc. 0.31% 11,117 $567K Reduce -13.1%
IJR iShares Core S&P Small-Cap E 0.30% 4,615 $540K Add +9.3%
BLK BlackRock Finance Inc. 0.26% 500 $475K No change
XOM Exxon Mobil Corp. 0.25% 3,913 $459K No change
ECL Ecolab Inc. 0.25% 1,786 $456K No change
ACWX iShares MSCI Acwi Ex US ETF 0.25% 7,942 $454K Add +3.7%
INTC Intel Corp. 0.25% 19,282 $452K Reduce -13.3%
TAP Molson Coors Beverage Co. Class B 0.24% 7,700 $443K New
SDY SS SPDR S&P Dividend ETF 0.23% 3,010 $428K Add +0.7%
PG The Procter & Gamble Co. 0.22% 2,347 $407K Reduce -1.7%
NOBL Proshares S&P 500 Dividend A 0.21% 3,530 $377K Reduce -3.3%
PM Philip Morris International 0.20% 3,075 $373K No change
WHR Whirlpool Corp. 0.19% 3,321 $355K Reduce -23.3%
XLF SS Financial Select Sector 0.19% 7,740 $351K No change
CTSH Cognizant Tech Solutions-A 0.18% 4,282 $330K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.18% 3,537 $325K Add +1.4%
QQQ Invesco QQQ Trust Series 1 0.18% 662 $323K Add +1.9%
PAYX Paychex Inc. 0.17% 2,350 $315K No change
CL Colgate-Palmolive Co. 0.17% 2,987 $310K No change
BAX Baxter International Inc. 0.17% 8,053 $306K Reduce -23.3%
AOS Smith (a.o.) Corp. 0.17% 3,396 $305K No change
FDX FedEx Corp. 0.16% 1,055 $289K No change
NEE Nextera Energy Inc. 0.15% 3,303 $279K No change
PPG PPG Industries Inc. 0.15% 2,075 $275K No change
BIV Vanguard Intermediate-Term B 0.15% 3,454 $271K Add +29.1%
RSP Invesco S&P 500 Equal Weight 0.13% 1,285 $230K New
COP Conocophillips 0.13% 2,180 $230K Reduce -0.5%
NVDA Nvidia Corp. 0.12% 1,860 $226K No change
VRTX Vertex Pharmaceuticals Inc. 0.12% 485 $226K No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.11% 4,835 $203K New
PSX Phillips 66 0.11% 1,527 $201K No change

Portfolio Sells Q2 2024 → Q3 2024
QCOM Qualcomm Inc. Reduce -0.5% 3.76% −0.99
CVS CVS Health Corp. Sold out 0.00% −0.88
MSFT Microsoft Corp. Reduce -0.5% 6.49% −0.78
IFF Intl Flavors & Fragrances Sold out 0.00% −0.28
EPD Enterprise Products Partners Reduce -0.7% 3.35% −0.26
INTC Intel Corp. Reduce -13.3% 0.25% −0.16
CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.15
AMGN Amgen Inc. Reduce -1.5% 2.43% −0.14
PII Polaris Inc. Reduce -9.8% 1.07% −0.13
UPS United Parcel Service Class B Reduce -5.4% 0.91% −0.13
TROW T Rowe Price Group Inc. Sold out 0.00% −0.12
TSM Taiwan Semiconductor-SP ADR Reduce -1.1% 1.37% −0.12
WHR Whirlpool Corp. Reduce -23.3% 0.19% −0.07
JPM JPMorgan Chase & Co. Reduce -0.5% 1.88% −0.06
BAX Baxter International Inc. Reduce -23.3% 0.17% −0.04
MO Altria Group Inc. Reduce -13.1% 0.31% −0.03
GD General Dynamics Corp. Reduce -2.4% 0.54% −0.03
COP Conocophillips Reduce -0.5% 0.13% −0.02
DLR Digital Realty Trust Inc. Reduce -0.1% 1.51% −0.01
PG The Procter & Gamble Co. Reduce -1.7% 0.22% −0.01
VZ Verizon Communications Inc. Reduce -1.6% 1.19% −0.00
NOBL Proshares S&P 500 Dividend A Reduce -3.3% 0.21% +0.00
FRT Federal Realty Invs Trust Reduce -5.6% 0.74% +0.00
MDT Medtronic PLC Reduce -3.3% 0.38% +0.01
TFC Truist Financial Corp. Reduce -1.8% 2.89% +0.02
AMP Ameriprise Financial Inc. Reduce -0.9% 1.60% +0.02
BNY Bank of New York Mellon Corp. Reduce -1.5% 0.40% +0.04
AAPL Apple Inc. Reduce -0.4% 2.20% +0.06
ABBV Abbvie Inc. Reduce -4.0% 2.38% +0.07
CSCO Cisco Systems Inc. Reduce -1.1% 2.19% +0.07
AFL Aflac Inc. Reduce -4.3% 0.91% +0.09
USB US Bancorp Reduce -0.4% 1.50% +0.10
CAT Caterpillar Inc. Reduce -3.0% 1.75% +0.10
CMI Cummins Inc. Reduce -0.3% 1.30% +0.10
LOW Lowe's Cos Inc. Reduce -0.3% 3.31% +0.41
SWK Stanley Black & Decker Inc. Reduce -0.1% 2.86% +0.63

Portfolio Buys Q2 2024 → Q3 2024
G Genpact Ltd. Add +9.7% 3.04% +0.60
PFE Pfizer Inc. Add +140.3% 0.48% +0.27
TAP Molson Coors Beverage Co. Class B New 0.24% +0.24
APD Air Products & Chemicals Inc. Add +21.9% 0.89% +0.21
TGT Target Corp. Add +7.2% 2.61% +0.13
RSP Invesco S&P 500 Equal Weight New 0.13% +0.13
SLB SLB Ltd. New 0.11% +0.11
ITW Illinois Tool Works Add +1.4% 2.55% +0.11
CMCSA Comcast Corp. Class A Add +4.0% 2.39% +0.08
O Realty Income Corp. Add +4.9% 0.52% +0.08
ENB Enbridge Inc. Add +4.9% 0.43% +0.04
SCHD Schwab US DVD Equity ETF Add +10.6% 0.39% +0.04
VCSH Vanguard S/T Corp. Bond ETF Add +14.2% 0.49% +0.04
PEP Pepsico Inc. Add +9.3% 0.81% +0.04
BSV Vanguard Short-Term Bond ETF Add +13.2% 0.44% +0.03
IJR iShares Core S&P Small-Cap E Add +9.3% 0.30% +0.03
BIV Vanguard Intermediate-Term B Add +29.1% 0.15% +0.03
SPY SS SPDR S&P 500 ETF Trust-US Add +2.5% 2.86% +0.02
LNC Lincoln National Corp. Add +6.7% 2.21% +0.02
VTI VG Morningstar TS MKT ETF-US Add +3.9% 0.53% +0.01
SDY SS SPDR S&P Dividend ETF Add +0.7% 0.23% +0.01
ACWX iShares MSCI Acwi Ex US ETF Add +3.7% 0.25% +0.01
QQQ Invesco QQQ Trust Series 1 Add +1.9% 0.18% −0.01
BIL SS SPDR BB 1-3M T-Bill ETF Add +1.4% 0.18% −0.01
XLK SS Technology Select Sector Add +0.4% 3.94% −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