Loudon Investment Management, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Loudon Investment Management, LLC reported 96 stock positions worth $175.1 million. Its top holding was Microsoft (MSFT) at 5.9% of the portfolio, followed by Enterprise Products Partners (EPD, 4.3%) and Genpact (G, 4.2%). Compared with Q4 2024, it opened 5 new positions, sold out of 5, added to 36 and reduced 34. The biggest buy was Abbott Laboratories (ABT, shares +250%) and the biggest sale Comcast Class A (CMCSA, shares −77%).

Most Recent 13F
Q2 2026
Location
MERIDEN, NH
CIK
0001597089
Portfolio Value
$175.1M (Q1 2025)
SEC Filing
0001597089-25-000004 ↗ filed May 6, 2025

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 Q3 2024 Q4 2024: $175.9M Q4 2024 Q1 2025: $175.1M $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 · $175.1M
MSFT Microsoft Corp. 5.86% 27,336 $10.3M Reduce -0.6%
EPD Enterprise Products Partners 4.27% 218,971 $7.5M Add +4.2%
G Genpact Ltd. 4.24% 147,225 $7.4M Add +2.2%
XLK SS Technology Select Sector 3.77% 31,968 $6.6M Add +0.6%
FAST Fastenal Co. 3.58% 80,791 $6.3M Reduce -0.3%
QCOM Qualcomm Inc. 3.54% 40,399 $6.2M Add +0.1%
SPY SS SPDR S&P 500 ETF Trust-US 3.00% 9,398 $5.3M Add +0.1%
LOW Lowe's Cos Inc. 2.96% 22,187 $5.2M Reduce -0.4%
TFC Truist Financial Corp. 2.95% 125,346 $5.2M Add +2.0%
LNC Lincoln National Corp. 2.76% 134,614 $4.8M Add +4.7%
CSCO Cisco Systems Inc. 2.68% 76,110 $4.7M Add +1.4%
ABBV Abbvie Inc. 2.57% 21,437 $4.5M Reduce -1.4%
ITW Illinois Tool Works 2.49% 17,576 $4.4M Reduce -0.9%
AMGN Amgen Inc. 2.44% 13,712 $4.3M Reduce -0.3%
ESS Essex Property Trust Inc. 2.43% 13,904 $4.3M Reduce -0.3%
JPM JPMorgan Chase & Co. 2.34% 16,713 $4.1M Add +3.6%
AAPL Apple Inc. 2.19% 17,266 $3.8M No change
SWK Stanley Black & Decker Inc. 1.97% 44,948 $3.5M Reduce -5.9%
AMT American Tower Corp. 1.74% 13,968 $3.0M Add +9.7%
AMP Ameriprise Financial Inc. 1.66% 5,987 $2.9M No change
ABT Abbott Laboratories 1.60% 21,079 $2.8M Add +249.7%
CAT Caterpillar Inc. 1.49% 7,888 $2.6M Reduce -1.3%
USB US Bancorp 1.41% 58,285 $2.5M Reduce -0.4%
TSM Taiwan Semiconductor-SP ADR 1.35% 14,282 $2.4M Reduce -0.5%
DLR Digital Realty Trust Inc. 1.35% 16,485 $2.4M No change
CMI Cummins Inc. 1.35% 7,526 $2.4M Add +2.5%
VZ Verizon Communications Inc. 1.31% 50,652 $2.3M Add +3.5%
EMR Emerson Electric Co. 1.26% 20,180 $2.2M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.26% 52,784 $2.2M Add +28.5%
APD Air Products & Chemicals Inc. 1.16% 6,896 $2.0M Add +26.3%
DE Deere & Co. 1.11% 4,131 $1.9M No change
PNR Pentair PLC 1.02% 20,382 $1.8M No change
UGI Ugi Corp. 1.00% 53,105 $1.8M New
AFL Aflac Inc. 0.88% 13,791 $1.5M Reduce -7.5%
O Realty Income Corp. 0.87% 26,160 $1.5M Add +19.0%
ADP Automatic Data Processing 0.84% 4,836 $1.5M Add +6.5%
FLOT iShares Floating Rate Bond E 0.82% 28,187 $1.4M Add +57.5%
PEP Pepsico Inc. 0.82% 9,565 $1.4M Add +2.8%
GBCI Glacier Bancorp Inc. 0.79% 31,439 $1.4M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.61% 4,279 $1.1M New
PAYX Paychex Inc. 0.61% 6,895 $1.1M Add +193.4%
TGT Target Corp. 0.60% 10,132 $1.1M Reduce -55.1%
JNJ Johnson & Johnson 0.57% 6,051 $1.0M No change
UPS United Parcel Service Class B 0.56% 8,985 $988K Reduce -19.5%
VTI VG Morningstar TS MKT ETF-US 0.56% 3,564 $980K Reduce -1.6%
LMT Lockheed Martin Corp. 0.55% 2,157 $964K Reduce -5.2%
VCSH Vanguard S/T Corp. Bond ETF 0.55% 12,176 $961K Reduce -1.1%
ENB Enbridge Inc. 0.54% 21,201 $939K Add +1.1%
MRK Merck & Co. Inc. 0.53% 10,419 $935K Reduce -21.7%
CMCSA Comcast Corp. Class A 0.53% 24,989 $922K Reduce -77.4%
SCHD Schwab US DVD Equity ETF 0.50% 31,216 $873K Add +0.6%
TAP Molson Coors Beverage Co. Class B 0.49% 14,190 $864K Add +21.3%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.49% 10,287 $863K Add +3.3%
FRT Federal Realty Invs Trust 0.48% 8,675 $849K Reduce -21.6%
BSV Vanguard Short-Term Bond ETF 0.48% 10,830 $848K Add +0.9%
XLC SS Comm Select Sector SPDR 0.47% 8,610 $830K Add +10.0%
WEC WEC Energy Group Inc. 0.45% 7,195 $784K New
GD General Dynamics Corp. 0.43% 2,790 $760K Reduce -8.8%
MO Altria Group Inc. 0.43% 12,567 $754K Add +13.0%
PSA Public Storage 0.41% 2,400 $718K No change
VNQ Vanguard Real Estate ETF 0.38% 7,295 $660K No change
TU Telus Corp. 0.37% 44,984 $645K Reduce -0.2%
MDT Medtronic PLC 0.36% 7,092 $637K Add +27.5%
WTRG Essential Utilities Inc. 0.35% 15,463 $611K No change
PM Philip Morris International 0.33% 3,685 $585K Add +19.8%
PFE Pfizer Inc. 0.32% 22,370 $567K Reduce -23.8%
SYY Sysco Corp. 0.32% 7,445 $559K No change
VLO Valero Energy Corp. 0.32% 4,219 $557K No change
IJR iShares Core S&P Small-Cap E 0.29% 4,910 $513K Add +0.5%
PLD Prologis Inc. 0.29% 4,585 $513K New
XOM Exxon Mobil Corp. 0.27% 3,913 $465K No change
ECL Ecolab Inc. 0.26% 1,786 $453K No change
BLK BlackRock Inc. 0.25% 471 $446K Reduce -5.8%
ACWX iShares MSCI Acwi Ex US ETF 0.24% 7,646 $424K Reduce -1.6%
XLF SS Financial Select Sector 0.22% 7,740 $386K No change
RSP Invesco S&P 500 Equal Weight 0.22% 2,213 $383K Add +7.8%
ADM Archer-Daniels-Midland Co. 0.21% 7,805 $375K Reduce -77.2%
BIL SS SPDR BB 1-3M T-Bill ETF 0.21% 4,043 $371K Add +13.5%
PG The Procter & Gamble Co. 0.20% 2,062 $351K Reduce -12.1%
EXR Extra Space Storage Inc. 0.20% 2,365 $351K Reduce -35.9%
BIV Vanguard Intermediate-Term B 0.20% 4,515 $346K No change
NOBL Proshares S&P 500 Dividend A 0.19% 3,280 $335K Reduce -15.5%
QQQ Invesco QQQ Trust Series 1 0.19% 708 $332K Add +1.1%
CTSH Cognizant Tech Solutions-A 0.19% 4,282 $328K No change
SDY SS SPDR S&P Dividend ETF 0.17% 2,187 $297K Add +0.8%
CLX Clorox Company 0.15% 1,801 $265K Reduce -28.7%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.15% 4,700 $257K Reduce -17.5%
FDX FedEx Corp. 0.14% 1,000 $244K Reduce -5.2%
CRWD CrowdStrike Holdings Inc. Class A 0.14% 675 $238K No change
VRTX Vertex Pharmaceuticals Inc. 0.13% 485 $235K New
NEE Nextera Energy Inc. 0.13% 3,250 $230K No change
COP Conocophillips 0.13% 2,180 $229K No change
PPG PPG Industries Inc. 0.12% 2,000 $219K Reduce -3.6%
NVDA Nvidia Corp. 0.12% 1,985 $215K Add +9.7%
CL Colgate-Palmolive Co. 0.12% 2,294 $215K Reduce -23.2%
AMZN Amazon.com Inc. 0.12% 1,080 $205K Add +10.2%

Portfolio Sells Q4 2024 → Q1 2025
CMCSA Comcast Corp. Class A Reduce -77.4% 0.53% −1.83
TGT Target Corp. Reduce -55.1% 0.60% −1.13
ADM Archer-Daniels-Midland Co. Reduce -77.2% 0.21% −0.77
MSFT Microsoft Corp. Reduce -0.6% 5.86% −0.73
CCI Crown Castle Inc. Sold out 0.00% −0.55
TSM Taiwan Semiconductor-SP ADR Reduce -0.5% 1.35% −0.26
UPS United Parcel Service Class B Reduce -19.5% 0.56% −0.24
TTD Trade Desk Inc./the Class A Reduce -17.5% 0.15% −0.23
FRT Federal Realty Invs Trust Reduce -21.6% 0.48% −0.22
MRK Merck & Co. Inc. Reduce -21.7% 0.53% −0.22
WHR Whirlpool Corp. Sold out 0.00% −0.22
SWK Stanley Black & Decker Inc. Reduce -5.9% 1.97% −0.21
USB US Bancorp Reduce -0.4% 1.41% −0.19
LOW Lowe's Cos Inc. Reduce -0.4% 2.96% −0.17
CAT Caterpillar Inc. Reduce -1.3% 1.49% −0.16
TSLA Tesla Inc. Sold out 0.00% −0.15
TROW T Rowe Price Group Inc. Sold out 0.00% −0.12
PFE Pfizer Inc. Reduce -23.8% 0.32% −0.12
AOS Smith (a.o.) Corp. Sold out 0.00% −0.12
EXR Extra Space Storage Inc. Reduce -35.9% 0.20% −0.11
CLX Clorox Company Reduce -28.7% 0.15% −0.08
LMT Lockheed Martin Corp. Reduce -5.2% 0.55% −0.08
ITW Illinois Tool Works Reduce -0.9% 2.49% −0.07
VTI VG Morningstar TS MKT ETF-US Reduce -1.6% 0.56% −0.04
BLK BlackRock Inc. Reduce -5.8% 0.25% −0.04
CL Colgate-Palmolive Co. Reduce -23.2% 0.12% −0.03
FDX FedEx Corp. Reduce -5.2% 0.14% −0.03
NOBL Proshares S&P 500 Dividend A Reduce -15.5% 0.19% −0.03
GD General Dynamics Corp. Reduce -8.8% 0.43% −0.02
PG The Procter & Gamble Co. Reduce -12.1% 0.20% −0.02
PPG PPG Industries Inc. Reduce -3.6% 0.12% −0.02
AFL Aflac Inc. Reduce -7.5% 0.88% −0.00
VCSH Vanguard S/T Corp. Bond ETF Reduce -1.1% 0.55% +0.00
ACWX iShares MSCI Acwi Ex US ETF Reduce -1.6% 0.24% +0.01
TU Telus Corp. Reduce -0.2% 0.37% +0.02
ESS Essex Property Trust Inc. Reduce -0.3% 2.43% +0.17
FAST Fastenal Co. Reduce -0.3% 3.58% +0.26
ABBV Abbvie Inc. Reduce -1.4% 2.57% +0.37
AMGN Amgen Inc. Reduce -0.3% 2.44% +0.40

Portfolio Buys Q4 2024 → Q1 2025
ABT Abbott Laboratories Add +249.7% 1.60% +1.21
UGI Ugi Corp. New 1.00% +1.00
G Genpact Ltd. Add +2.2% 4.24% +0.72
IBM Intl Business Machines Corp. New 0.61% +0.61
EPD Enterprise Products Partners Add +4.2% 4.27% +0.52
WEC WEC Energy Group Inc. New 0.45% +0.45
LNC Lincoln National Corp. Add +4.7% 2.76% +0.44
PAYX Paychex Inc. Add +193.4% 0.61% +0.42
AMT American Tower Corp. Add +9.7% 1.74% +0.41
SLB SLB Ltd. Add +28.5% 1.26% +0.36
FLOT iShares Floating Rate Bond E Add +57.5% 0.82% +0.30
PLD Prologis Inc. New 0.29% +0.29
APD Air Products & Chemicals Inc. Add +26.3% 1.16% +0.26
VZ Verizon Communications Inc. Add +3.5% 1.31% +0.20
O Realty Income Corp. Add +19.0% 0.87% +0.20
CSCO Cisco Systems Inc. Add +1.4% 2.68% +0.16
JPM JPMorgan Chase & Co. Add +3.6% 2.34% +0.14
VRTX Vertex Pharmaceuticals Inc. New 0.13% +0.13
PM Philip Morris International Add +19.8% 0.33% +0.12
TAP Molson Coors Beverage Co. Class B Add +21.3% 0.49% +0.11
MDT Medtronic PLC Add +27.5% 0.36% +0.11
MO Altria Group Inc. Add +13.0% 0.43% +0.10
ADP Automatic Data Processing Add +6.5% 0.84% +0.09
BNY Bank of New York Mellon Corp. Add +3.3% 0.49% +0.06
XLC SS Comm Select Sector SPDR Add +10.0% 0.47% +0.04
ENB Enbridge Inc. Add +1.1% 0.54% +0.03
BIL SS SPDR BB 1-3M T-Bill ETF Add +13.5% 0.21% +0.03
QCOM Qualcomm Inc. Add +0.1% 3.54% +0.02
SCHD Schwab US DVD Equity ETF Add +0.6% 0.50% +0.02
RSP Invesco S&P 500 Equal Weight Add +7.8% 0.22% +0.01
PEP Pepsico Inc. Add +2.8% 0.82% +0.01
BSV Vanguard Short-Term Bond ETF Add +0.9% 0.48% +0.01
SDY SS SPDR S&P Dividend ETF Add +0.8% 0.17% +0.01
AMZN Amazon.com Inc. Add +10.2% 0.12% −0.00
QQQ Invesco QQQ Trust Series 1 Add +1.1% 0.19% −0.01
NVDA Nvidia Corp. Add +9.7% 0.12% −0.02
IJR iShares Core S&P Small-Cap E Add +0.5% 0.29% −0.03
TFC Truist Financial Corp. Add +2.0% 2.95% −0.08
CMI Cummins Inc. Add +2.5% 1.35% −0.11
SPY SS SPDR S&P 500 ETF Trust-US Add +0.1% 3.00% −0.13
XLK SS Technology Select Sector Add +0.6% 3.77% −0.43

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