Marble Harbor Investment Counsel, LLC

Name: Marble Harbor Investment Counsel, LLC 13F holdings, Q1 2025
Creator: Marble Harbor Investment Counsel, LLC
Published: 2025-05-09

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Marble Harbor Investment Counsel, LLC reported 206 stock positions worth $888.2 million. Its top holding was Apple (AAPL) at 6.5% of the portfolio, followed by Microsoft (MSFT, 6.4%) and Automatic Data Processing (ADP, 4.4%). Compared with Q4 2024, it opened 6 new positions, sold out of 6, added to 17 and reduced 101. The biggest buy was Walgreens Boots Alliance (WBA, shares +5%) and the biggest sale Apple (AAPL, shares −3%).

Most Recent 13F: Q2 2026
Location: BOSTON, MA
CIK: 0001387130
Portfolio Value: $888.2M (Q1 2025)
SEC Filing: 0001420506-25-000945 ↗ filed May 9, 2025

Holdings Value

Holdings 206 stocks · $888.2M


AAPL Apple Inc.	6.47%	258,764	$57.5M	Reduce -3.1%
MSFT Microsoft Corp.	6.43%	152,136	$57.1M	Reduce -3.1%
ADP Automatic Data Processing	4.45%	129,286	$39.5M	Reduce -2.3%
ABBV Abbvie Inc.	4.42%	187,472	$39.3M	Reduce -2.1%
FISV Fiserv Inc.	4.29%	172,737	$38.1M	Reduce -3.9%
ORLY O'reilly Automotive Inc.	3.24%	20,084	$28.8M	Reduce -5.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	3.23%	333,588	$28.7M	Reduce -3.8%
CSCO Cisco Systems Inc.	3.20%	460,041	$28.4M	Reduce -0.6%
PG The Procter & Gamble Co.	3.09%	160,913	$27.4M	Reduce -1.4%
ABT Abbott Laboratories	2.94%	196,962	$26.1M	Reduce -1.2%
EBAY eBay Inc.	2.43%	318,101	$21.5M	Reduce -1.6%
PGR Progressive Corp.	2.26%	70,780	$20.0M	Reduce -3.2%
PH Parker Hannifin Corp.	1.99%	29,101	$17.7M	Reduce -0.9%
XOM Exxon Mobil Corp.	1.91%	142,520	$16.9M	Reduce -1.9%
VWO Vanguard Ftse Emerging Marke	1.90%	373,740	$16.9M	Reduce -1.9%
IDXX Idexx Laboratories Inc.	1.88%	39,722	$16.7M	Reduce -0.3%
HR Healthcare Realty Trust Inc.	1.62%	852,323	$14.4M	Add +0.5%
EOG EOG Resources Inc.	1.51%	104,277	$13.4M	Add +1.2%
WMT Walmart Inc.	1.50%	151,322	$13.3M	Reduce -3.2%
PEP Pepsico Inc.	1.45%	86,008	$12.9M	Reduce -0.3%
KO The Coca-Cola Co.	1.42%	176,287	$12.6M	Reduce -0.1%
GE General Electric filed as GE AEROSPACE	1.37%	60,864	$12.2M	Reduce -1.1%
NTRS Northern Trust Corp.	1.35%	121,473	$12.0M	Reduce -1.0%
PYPL PayPal Holdings Inc.	1.31%	178,561	$11.7M	Add +0.5%
DXCM Dexcom Inc.	1.27%	164,996	$11.3M	Reduce -1.5%
ECL Ecolab Inc.	1.27%	44,336	$11.2M	Reduce -2.0%
SYK Stryker Corp.	1.17%	27,800	$10.3M	Reduce -0.4%
BRK.B Berkshire Hathaway Inc. Class B	1.15%	19,220	$10.2M	Reduce -2.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO	1.06%	95,727	$9.4M	Add +2.1%
WFC Wells Fargo & Co.	1.05%	129,704	$9.3M	Reduce -0.6%
JNJ Johnson & Johnson	1.04%	55,485	$9.2M	Reduce -2.5%
PFE Pfizer Inc.	1.00%	351,474	$8.9M	Reduce -1.5%
VOO Vanguard S&P 500 ETF	0.97%	16,846	$8.7M	Reduce -11.0%
MCD McDonald's Corp.	0.87%	24,697	$7.7M	Reduce -0.7%
VIOO Vanguard S&P Small-Cap 600 E	0.82%	75,607	$7.3M	Add +2.0%
WBA Walgreens Boots Alliance Inc.	0.80%	639,938	$7.1M	Add +5.1%
GOOGL Alphabet Inc. Class A	0.73%	41,657	$6.4M	Add +3.7%
BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP	0.71%	91,463	$6.3M	Add +2.4%
MRK Merck & Co. Inc.	0.71%	69,794	$6.3M	Reduce -1.0%
PCOR Procore Technologies Inc.	0.67%	90,458	$6.0M	Add +13.5%
CVX Chevron Corp.	0.62%	33,057	$5.5M	Reduce -0.3%
GEV GE Vernova Inc.	0.52%	15,008	$4.6M	Reduce -0.9%
EW Edwards Lifesciences Corp.	0.51%	62,774	$4.5M	Reduce -8.3%
DHR Danaher Corp.	0.49%	21,397	$4.4M	Reduce -6.6%
TPR Tapestry Inc.	0.48%	60,475	$4.3M	Reduce -0.8%
EXPD Expeditors Intl Wash Inc.	0.48%	35,232	$4.2M	Reduce -1.2%
CB Chubb Ltd.	0.47%	13,911	$4.2M	Reduce -0.8%
EMR Emerson Electric Co.	0.47%	38,048	$4.2M	Reduce -1.2%
NVDA Nvidia Corp.	0.47%	38,457	$4.2M	Reduce -4.8%
SHW The Sherwin-Williams Co.	0.47%	11,924	$4.2M	Add +0.1%
GLDM SPDR Gold Minishares Trust	0.46%	66,375	$4.1M	Reduce -0.1%
APD Air Products & Chemicals Inc.	0.44%	13,285	$3.9M	Reduce -12.4%
LLY Eli Lilly & Co.	0.41%	4,414	$3.6M	Reduce -24.7%
RTX RTX Corp.	0.40%	26,881	$3.6M	Reduce -4.6%
GOOG Alphabet Inc. Class C	0.37%	21,068	$3.3M	Reduce -3.7%
VBR Vngrd Mrngst SL-CP Val ETF-U	0.37%	17,591	$3.3M	Add +5.7%
HD Home Depot Inc.	0.36%	8,650	$3.2M	Reduce -1.4%
SHEL Shell PLC-ADR	0.35%	42,475	$3.1M	Reduce -3.1%
JPM JPMorgan Chase & Co.	0.34%	12,307	$3.0M	Reduce -0.8%
UNP Union Pacific Corp.	0.31%	11,760	$2.8M	Reduce -0.8%
VB Vanguard Most SM-Cap ETF-Usd	0.30%	11,902	$2.6M	Reduce -1.6%
AXP American Express Co.	0.29%	9,461	$2.5M	Reduce -1.1%
DEO Diageo PLC-Sponsored ADR	0.28%	23,914	$2.5M	Add +5.3%
SIVR Abrdn Physical Silver Shares	0.23%	61,700	$2.0M	Reduce -0.1%
VNQ Vanguard Real Estate ETF	0.22%	21,900	$2.0M	No change
COST Costco Wholesale Corp.	0.22%	2,090	$2.0M	Reduce -1.4%
IVOO Vanguard S&P Mid-Cap 400 ETF	0.22%	19,830	$2.0M	No change
NKE Nike Inc. Class B	0.20%	28,285	$1.8M	Add +57.0%
AMZN Amazon.com Inc.	0.20%	9,350	$1.8M	Reduce -1.1%
LRCX Lam Research Corp.	0.19%	23,400	$1.7M	Reduce -2.5%
NSC Norfolk Southern Corp.	0.19%	7,022	$1.7M	No change
SGOL Abrdn Physical Gold Shares	0.18%	54,600	$1.6M	No change
TEL Te Connectivity PLC	0.18%	11,046	$1.6M	No change
DUK Duke Energy Corp.	0.17%	12,158	$1.5M	No change
MDY State Street SPDR S&P Midcap	0.16%	2,700	$1.4M	No change
GEHC GE Healthcare Technology	0.16%	17,675	$1.4M	Reduce -5.3%
AON Aon PLC Class A	0.14%	3,125	$1.2M	No change
CAT Caterpillar Inc.	0.13%	3,632	$1.2M	No change
NEE Nextera Energy Inc.	0.13%	16,649	$1.2M	Reduce -2.3%
VTWO Vanguard Russell 2000 ETF	0.13%	14,165	$1.1M	No change
QQQM Invesco Nasdaq 100 ETF	0.13%	5,801	$1.1M	No change
SBUX Starbucks Corp.	0.13%	11,330	$1.1M	No change
EEM iShares MSCI Emerging Market	0.12%	24,100	$1.1M	No change
CARR Carrier Global Corp.	0.12%	16,430	$1.0M	Reduce -3.0%
VIG Vanguard Dividend Apprec ETF	0.11%	4,971	$964K	Reduce -0.9%
FTV Fortive Corp.	0.10%	12,620	$924K	Add +1.6%
IVV iShares Core S&P 500 ETF	0.10%	1,596	$897K	Reduce -3.0%
VLTO Veralto Corp.	0.09%	8,605	$839K	Reduce -1.5%
VFH Vanguard Financials ETF	0.09%	6,850	$818K	No change
OTIS Otis Worldwide Corp.	0.09%	7,769	$802K	Reduce -4.3%
BDX Becton Dickinson and Co.	0.09%	3,480	$797K	No change
EFT Eaton Vance Fltng RT Inc. TR	0.09%	62,617	$786K	Reduce -26.2%
VNQI Vanguard GLBL Ex-US Real Est	0.08%	17,950	$726K	Reduce -1.9%
NOC Northrop Grumman Corp.	0.08%	1,411	$722K	No change
PAYX Paychex Inc.	0.08%	4,603	$710K	No change
QQQ Invesco QQQ Trust Series 1	0.08%	1,507	$707K	Add +0.8%
AMGN Amgen Inc.	0.08%	2,252	$702K	No change
TDG Transdigm Group Inc.	0.08%	500	$692K	No change
DVYE iShares Emerging Markets Div	0.08%	25,300	$690K	Add +31.1%
LKQ LKQ Corp.	0.08%	16,135	$686K	Reduce -0.3%

Show all 206 holdings

Portfolio Sells Q4 2024 → Q1 2025


AAPL Apple Inc.	Reduce -3.1%	6.47%	−0.90
MSFT Microsoft Corp.	Reduce -3.1%	6.43%	−0.87
IRM Iron Mountain Inc.	Reduce -3.8%	3.23%	−0.78
DXCM Dexcom Inc.	Reduce -1.5%	1.27%	−0.17
VOO Vanguard S&P 500 ETF	Reduce -11.0%	0.97%	−0.15
NVDA Nvidia Corp.	Reduce -4.8%	0.47%	−0.13
GOOG Alphabet Inc. Class C	Reduce -3.7%	0.37%	−0.09
LLY Eli Lilly & Co.	Reduce -24.7%	0.41%	−0.09
DHR Danaher Corp.	Reduce -6.6%	0.49%	−0.09
KMB Kimberly-Clark Corp.	Reduce -71.3%	0.04%	−0.08
MRK Merck & Co. Inc.	Reduce -1.0%	0.71%	−0.07
PH Parker Hannifin Corp.	Reduce -0.9%	1.99%	−0.07
WMT Walmart Inc.	Reduce -3.2%	1.50%	−0.06
EMR Emerson Electric Co.	Reduce -1.2%	0.47%	−0.06
AMLP Alerian MLP ETF	Reduce -53.0%	0.06%	−0.05
TR Tootsie Roll Inds	Reduce -53.0%	0.05%	−0.05
EW Edwards Lifesciences Corp.	Reduce -8.3%	0.51%	−0.05
APD Air Products & Chemicals Inc.	Reduce -12.4%	0.44%	−0.04
HYT BlackRock Corp. Hi YLD	Reduce -51.3%	0.04%	−0.04
ET Energy Transfer LP	Sold out	0.00%	−0.04
PFE Pfizer Inc.	Reduce -1.5%	1.00%	−0.04
MAIN Main Street Capital Corp.	Sold out	0.00%	−0.04
NTRS Northern Trust Corp.	Reduce -1.0%	1.35%	−0.04
MPLX MPLX LP	Sold out	0.00%	−0.04
IBHF iShares Ibond 2026 HY & Inc.	Reduce -40.4%	0.05%	−0.03
GEV GE Vernova Inc.	Reduce -0.9%	0.52%	−0.03
IBHI iShares Ibonds 2029 TM HY Inc.	Reduce -49.7%	0.03%	−0.03
IBHH iShares Ibonds 2028 TM HY Inc.	Reduce -46.9%	0.04%	−0.03
EFT Eaton Vance Fltng RT Inc. TR	Reduce -26.2%	0.09%	−0.03
WEC WEC Energy Group Inc.	Reduce -48.5%	0.05%	−0.03
IBHG iShares Ibonds 2027 HY Inc.	Reduce -39.3%	0.05%	−0.03
OCSL Oaktree Specialty Lending Co.	Reduce -46.8%	0.03%	−0.03
CLX Clorox Company	Sold out	0.00%	−0.03
AMZN Amazon.com Inc.	Reduce -1.1%	0.20%	−0.03
BXSL Blackstone Secured Lending F	Reduce -51.2%	0.03%	−0.03
AXP American Express Co.	Reduce -1.1%	0.29%	−0.03
TSLA Tesla Inc.	Sold out	0.00%	−0.02
ARCC Ares Capital Corp.	Reduce -49.2%	0.03%	−0.02
PSBD Palmer Square Capital BDC Inc.	Reduce -37.9%	0.03%	−0.02
XEFRX Eaton Vance Sr FLTG Rate TR	Reduce -27.0%	0.06%	−0.02
VB Vanguard Most SM-Cap ETF-Usd	Reduce -1.6%	0.30%	−0.02
BA The Boeing Co.	Reduce -28.4%	0.06%	−0.02
DOW Dow Inc.	Sold out	0.00%	−0.02
TSLX Sixth Street Specialty Lendi	Reduce -47.6%	0.03%	−0.02
HD Home Depot Inc.	Reduce -1.4%	0.36%	−0.02
CMI Cummins Inc.	Reduce -30.8%	0.03%	−0.02
SYY Sysco Corp.	Reduce -24.8%	0.05%	−0.02
HUBB Hubbell Inc.	Reduce -6.3%	0.04%	−0.01
SLB SLB Ltd.	Reduce -30.1%	0.04%	−0.01
OGN Organon & Co.	Reduce -25.3%	0.04%	−0.01

Portfolio Buys Q4 2024 → Q1 2025


WBA Walgreens Boots Alliance Inc.	Add +5.1%	0.80%	+0.18
EOG EOG Resources Inc.	Add +1.2%	1.51%	+0.11
RSMC Rockefeller US Small-Mid Cap	New	0.06%	+0.06
NKE Nike Inc. Class B	Add +57.0%	0.20%	+0.05
HR Healthcare Realty Trust Inc.	Add +0.5%	1.62%	+0.04
BNY Bank of New York Mellon Corp.	New	0.02%	+0.02
DE Deere & Co.	New	0.02%	+0.02
CTVA Corteva Inc.	New	0.02%	+0.02
L Loews Corp.	New	0.02%	+0.02
ATO Atmos Energy Corp.	New	0.02%	+0.02
DVYE iShares Emerging Markets Div	Add +31.1%	0.08%	+0.02
SHW The Sherwin-Williams Co.	Add +0.1%	0.47%	+0.02
INTC Intel Corp.	Add +13.6%	0.06%	+0.01
PCOR Procore Technologies Inc.	Add +13.5%	0.67%	+0.01
BOH Bank of Hawaii Corp.	Add +2.4%	0.71%	+0.01
VBR Vngrd Mrngst SL-CP Val ETF-U	Add +5.7%	0.37%	+0.01
FTV Fortive Corp.	Add +1.6%	0.10%	+0.00
QQQ Invesco QQQ Trust Series 1	Add +0.8%	0.08%	−0.00
DEO Diageo PLC-Sponsored ADR	Add +5.3%	0.28%	−0.04
VIOO Vanguard S&P Small-Cap 600 E	Add +2.0%	0.82%	−0.04
DIS The Walt Disney Co.	Add +2.1%	1.06%	−0.09
GOOGL Alphabet Inc. Class A	Add +3.7%	0.73%	−0.11
PYPL PayPal Holdings Inc.	Add +0.5%	1.31%	−0.36

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	200	$984.0M	AAPL, CSCO, MSFT, ABBV, IRM
Q1 2026	192	$922.9M	AAPL, MSFT, ABBV, CSCO, IRM
Q4 2025	185	$935.5M	MSFT, AAPL, ABBV, CSCO, ADP
Q3 2025	189	$954.7M	MSFT, AAPL, ABBV, ADP, IRM
Q2 2025	203	$918.1M	MSFT, AAPL, ADP, ABBV, IRM
Q1 2025	206	$888.2M	AAPL, MSFT, ADP, ABBV, FISV
Q4 2024	206	$907.2M	AAPL, MSFT, ADP, FISV, IRM
Q3 2024	210	$914.1M	MSFT, AAPL, IRM, ABBV, ADP
Q2 2024	204	$849.9M	MSFT, AAPL, IRM, ABBV, ADP
Q1 2024	204	$867.5M	MSFT, AAPL, IRM, ABBV, ADP