Loudon Investment Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 11, 2026), Loudon Investment Management, LLC reported 95 stock positions worth $185.8 million. Its top holding was Microsoft (MSFT) at 5.5% of the portfolio, followed by SS Technology Select Sector (XLK, 4.5%) and Enterprise Products Partners (EPD, 4.4%). Compared with Q4 2025, it opened 5 new positions, sold out of 3, added to 19 and reduced 28. The biggest buy was T-Mobile US (TMUS, shares +50%) and the biggest sale Qualcomm (QCOM, shares −3%).

Most Recent 13F
Q2 2026
Location
MERIDEN, NH
CIK
0001597089
Portfolio Value
$185.8M (Q1 2026)
SEC Filing
0001597089-26-000006 ↗ filed May 11, 2026

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 Q1 2025 Q2 2025: $180.8M Q2 2025 Q3 2025: $190.9M Q3 2025 Q4 2025: $191.4M Q4 2025 Q1 2026: $185.8M $185.8M Q1 2026 Q2 2026: $203.7M Q2 2026

Holdings 95 stocks · $185.8M
MSFT Microsoft Corp. 5.48% 27,495 $10.2M Add +1.0%
XLK SS Technology Select Sector 4.47% 62,432 $8.3M Reduce -6.9%
EPD Enterprise Products Partners 4.44% 217,907 $8.2M No change
FAST Fastenal Co. 3.94% 157,907 $7.3M Reduce -0.4%
SPY SS SPDR S&P 500 ETF Trust-US 3.25% 9,282 $6.0M Reduce -1.3%
CSCO Cisco Systems Inc. 3.00% 71,770 $5.6M Reduce -0.3%
TFC Truist Financial Corp. 2.95% 119,074 $5.5M Reduce -1.4%
G Genpact Ltd. 2.91% 145,260 $5.4M No change
CAT Caterpillar Inc. 2.84% 7,441 $5.3M Reduce -0.2%
O Realty Income Corp. 2.76% 83,850 $5.1M Add +1.0%
LOW Lowe's Cos Inc. 2.72% 21,372 $5.0M Reduce -0.3%
LNC Lincoln National Corp. 2.59% 135,489 $4.8M No change
TMUS T-Mobile US Inc. 2.57% 22,753 $4.8M Add +50.3%
ABBV Abbvie Inc. 2.37% 20,227 $4.4M Reduce -2.3%
AAPL Apple Inc. 2.26% 16,521 $4.2M Reduce -2.6%
TSM Taiwan Semiconductor-SP ADR 2.24% 12,302 $4.2M Reduce -11.9%
NEE Nextera Energy Inc. 2.21% 44,110 $4.1M No change
QCOM Qualcomm Inc. 2.18% 31,513 $4.1M Reduce -2.9%
CMI Cummins Inc. 2.08% 7,176 $3.9M No change
JPM JPMorgan Chase & Co. 2.07% 13,055 $3.8M Reduce -4.4%
ITW Illinois Tool Works 1.92% 13,680 $3.6M Add +0.8%
USB US Bancorp 1.65% 58,845 $3.1M No change
DLR Digital Realty Trust Inc. 1.48% 15,305 $2.8M No change
AMT American Tower Corp. 1.42% 15,323 $2.6M Add +3.3%
EMR Emerson Electric Co. 1.42% 20,180 $2.6M No change
DPZ Domino's Pizza Inc. 1.37% 7,077 $2.5M Reduce -10.2%
ABT Abbott Laboratories 1.35% 24,492 $2.5M Add +0.3%
DE Deere & Co. 1.22% 4,031 $2.3M No change
AMP Ameriprise Financial Inc. 1.11% 4,630 $2.1M No change
ADP Automatic Data Processing 1.04% 9,538 $1.9M Add +50.4%
ACN Accenture PLC Class A 1.01% 9,460 $1.9M Reduce -21.1%
AMGN Amgen Inc. 0.96% 5,087 $1.8M Reduce -3.3%
PNR Pentair PLC 0.95% 20,332 $1.8M No change
NVO Novo-Nordisk A/S-Spons ADR 0.88% 44,733 $1.6M Reduce -10.9%
ENB Enbridge Inc. 0.87% 29,951 $1.6M No change
MRK Merck & Co. Inc. 0.83% 12,803 $1.5M No change
PLD Prologis Inc. 0.81% 11,405 $1.5M No change
FLOT iShares Floating Rate Bond E 0.77% 27,937 $1.4M Add +3.0%
GBCI Glacier Bancorp Inc. 0.76% 31,439 $1.4M No change
JNJ Johnson & Johnson 0.75% 5,696 $1.4M No change
LMT Lockheed Martin Corp. 0.74% 2,289 $1.4M No change
VCSH Vanguard S/T Corp. Bond ETF 0.62% 14,474 $1.1M Add +14.0%
SWK Stanley Black & Decker Inc. 0.59% 15,445 $1.1M Reduce -2.2%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.59% 9,177 $1.1M No change
UGI Ugi Corp. 0.57% 29,285 $1.1M Reduce -17.7%
VTI VG Morningstar TS MKT ETF-US 0.56% 3,254 $1.0M Reduce -0.4%
VLO Valero Energy Corp. 0.56% 4,219 $1.0M No change
GD General Dynamics Corp. 0.54% 2,935 $1.0M No change
AFL Aflac Inc. 0.52% 8,801 $966K Reduce -5.1%
PEP Pepsico Inc. 0.52% 6,185 $960K No change
PAYX Paychex Inc. 0.51% 10,381 $956K Add +3.5%
XLC SS Comm Select Sector SPDR 0.51% 8,610 $955K No change
IJR iShares Core S&P Small-Cap E 0.49% 7,287 $906K Reduce -0.1%
XLE SS Energy Select Sector 0.47% 14,356 $879K Reduce -5.2%
RSP Invesco S&P 500 Equal Weight 0.46% 4,454 $855K Add +17.6%
BSV Vanguard Short-Term Bond ETF 0.46% 10,801 $847K No change
NVDA Nvidia Corp. 0.44% 4,667 $814K Add +3.3%
MO Altria Group Inc. 0.41% 11,538 $761K No change
XOM Exxon Mobil Corp. 0.40% 4,343 $737K Add +0.7%
RTX RTX Corp. 0.38% 3,641 $702K Reduce -0.8%
XLB SS Materials Select Sector 0.37% 13,915 $695K New
XLP SS Consumer Staples Sel Sect 0.37% 8,472 $695K New
VNQ Vanguard Real Estate ETF 0.35% 7,345 $652K No change
PSA Public Storage 0.35% 2,400 $650K No change
MRSH Marsh & McLennan Cos 0.34% 3,600 $624K New
WTRG Essential Utilities Inc. 0.34% 15,463 $623K No change
WEC WEC Energy Group Inc. 0.32% 5,180 $600K No change
ACWX iShares MSCI Acwi Ex US ETF 0.29% 7,926 $543K Add +0.3%
SYY Sysco Corp. 0.29% 7,445 $531K No change
ADM Archer-Daniels-Midland Co. 0.27% 6,925 $503K No change
MDT Medtronic PLC 0.26% 5,672 $491K No change
QQQ Invesco QQQ Trust Series 1 0.26% 847 $489K Add +12.5%
BIV Vanguard Intermediate-Term B 0.25% 6,133 $473K Add +19.9%
BLK BlackRock Inc. 0.24% 471 $453K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.24% 4,885 $448K Reduce -19.8%
GS Goldman Sachs Group Inc. 0.22% 484 $409K No change
GOOG Alphabet Inc. Class C 0.22% 1,425 $409K No change
SCHD Schwab US DVD Equity ETF 0.22% 13,161 $404K Add +0.4%
ECL Ecolab Inc. 0.21% 1,476 $393K No change
HTO H2O America 0.20% 6,230 $366K Add +14.3%
FDX FedEx Corp. 0.19% 1,000 $356K Reduce -4.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 1,378 $334K Reduce -49.5%
TU Telus Corp. 0.16% 23,100 $296K Reduce -39.4%
EXR Extra Space Storage Inc. 0.16% 2,215 $290K No change
NOBL Proshares S&P 500 Dividend A 0.16% 2,720 $288K No change
COP Conocophillips 0.15% 2,180 $288K No change
PSX Phillips 66 0.15% 1,527 $278K New
CRWD CrowdStrike Holdings Inc. Class A 0.14% 675 $264K No change
TSLA Tesla Inc. 0.13% 665 $247K Add +2.3%
FRT Federal Realty Invs Trust 0.13% 2,215 $235K No change
AMZN Amazon.com Inc. 0.13% 1,123 $234K No change
CVX Chevron Corp. 0.13% 1,130 $234K New
VEA Vanguard Ftse Developed ETF 0.12% 3,457 $222K Reduce -1.4%
VRTX Vertex Pharmaceuticals Inc. 0.12% 485 $217K No change
SHOP Shopify Inc. Class A 0.11% 1,700 $202K No change

Portfolio Sells Q4 2025 → Q1 2026
QCOM Qualcomm Inc. Reduce -2.9% 2.18% −0.72
ACN Accenture PLC Class A Reduce -21.1% 1.01% −0.67
XLK SS Technology Select Sector Reduce -6.9% 4.47% −0.58
XLV SS Health Care Select Sector Sold out 0.00% −0.55
NVO Novo-Nordisk A/S-Spons ADR Reduce -10.9% 0.88% −0.45
DPZ Domino's Pizza Inc. Reduce -10.2% 1.37% −0.35
IBM Intl Business Machines Corp. Reduce -49.5% 0.18% −0.24
JPM JPMorgan Chase & Co. Reduce -4.4% 2.07% −0.23
XLF SS Financial Select Sector Sold out 0.00% −0.22
TFC Truist Financial Corp. Reduce -1.4% 2.95% −0.16
AAPL Apple Inc. Reduce -2.6% 2.26% −0.15
APD Air Products & Chemicals Inc. Sold out 0.00% −0.14
UGI Ugi Corp. Reduce -17.7% 0.57% −0.12
ABBV Abbvie Inc. Reduce -2.3% 2.37% −0.10
TU Telus Corp. Reduce -39.4% 0.16% −0.10
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.3% 3.25% −0.10
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -19.8% 0.24% −0.05
SWK Stanley Black & Decker Inc. Reduce -2.2% 0.59% −0.02
AFL Aflac Inc. Reduce -5.1% 0.52% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -0.4% 0.56% −0.01
VEA Vanguard Ftse Developed ETF Reduce -1.4% 0.12% +0.00
LOW Lowe's Cos Inc. Reduce -0.3% 2.72% +0.02
TSM Taiwan Semiconductor-SP ADR Reduce -11.9% 2.24% +0.02
RTX RTX Corp. Reduce -0.8% 0.38% +0.03
IJR iShares Core S&P Small-Cap E Reduce -0.1% 0.49% +0.03
FDX FedEx Corp. Reduce -4.8% 0.19% +0.03
AMGN Amgen Inc. Reduce -3.3% 0.96% +0.06
CSCO Cisco Systems Inc. Reduce -0.3% 3.00% +0.10
XLE SS Energy Select Sector Reduce -5.2% 0.47% +0.12
CAT Caterpillar Inc. Reduce -0.2% 2.84% +0.61
FAST Fastenal Co. Reduce -0.4% 3.94% +0.62

Portfolio Buys Q4 2025 → Q1 2026
TMUS T-Mobile US Inc. Add +50.3% 2.57% +0.97
XLB SS Materials Select Sector New 0.37% +0.37
XLP SS Consumer Staples Sel Sect New 0.37% +0.37
MRSH Marsh & McLennan Cos New 0.34% +0.34
O Realty Income Corp. Add +1.0% 2.76% +0.32
ADP Automatic Data Processing Add +50.4% 1.04% +0.19
ITW Illinois Tool Works Add +0.8% 1.92% +0.17
PSX Phillips 66 New 0.15% +0.15
CVX Chevron Corp. New 0.13% +0.13
XOM Exxon Mobil Corp. Add +0.7% 0.40% +0.13
VCSH Vanguard S/T Corp. Bond ETF Add +14.0% 0.62% +0.09
RSP Invesco S&P 500 Equal Weight Add +17.6% 0.46% +0.08
AMT American Tower Corp. Add +3.3% 1.42% +0.06
HTO H2O America Add +14.3% 0.20% +0.06
BIV Vanguard Intermediate-Term B Add +19.9% 0.25% +0.05
FLOT iShares Floating Rate Bond E Add +3.0% 0.77% +0.05
SCHD Schwab US DVD Equity ETF Add +0.4% 0.22% +0.03
QQQ Invesco QQQ Trust Series 1 Add +12.5% 0.26% +0.02
ACWX iShares MSCI Acwi Ex US ETF Add +0.3% 0.29% +0.01
NVDA Nvidia Corp. Add +3.3% 0.44% −0.00
TSLA Tesla Inc. Add +2.3% 0.13% −0.02
PAYX Paychex Inc. Add +3.5% 0.51% −0.07
ABT Abbott Laboratories Add +0.3% 1.35% −0.24
MSFT Microsoft Corp. Add +1.0% 5.48% −1.40

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