Marble Harbor Investment Counsel, LLC

Name: Marble Harbor Investment Counsel, LLC 13F holdings, Q2 2025
Creator: Marble Harbor Investment Counsel, LLC
Published: 2025-08-08

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Marble Harbor Investment Counsel, LLC reported 203 stock positions worth $918.1 million. Its top holding was Microsoft (MSFT) at 8.1% of the portfolio, followed by Apple (AAPL, 5.7%) and Automatic Data Processing (ADP, 4.3%). Compared with Q1 2025, it opened 1 new position, sold out of 5, added to 16 and reduced 81. The biggest buy was GE Vernova (GEV, shares +0%) and the biggest sale Fiserv (FISV, shares −0%).

Most Recent 13F: Q2 2026
Location: BOSTON, MA
CIK: 0001387130
Portfolio Value: $918.1M (Q2 2025)
SEC Filing: 0001420506-25-001777 ↗ filed Aug 8, 2025

Holdings Value

Holdings 203 stocks · $918.1M


MSFT Microsoft Corp.	8.11%	149,658	$74.4M	Reduce -1.6%
AAPL Apple Inc.	5.65%	252,940	$51.9M	Reduce -2.3%
ADP Automatic Data Processing	4.29%	127,738	$39.4M	Reduce -1.2%
ABBV Abbvie Inc.	3.74%	185,096	$34.4M	Reduce -1.3%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	3.67%	328,773	$33.7M	Reduce -1.4%
CSCO Cisco Systems Inc.	3.44%	454,708	$31.5M	Reduce -1.2%
FISV Fiserv Inc.	3.23%	172,266	$29.7M	Reduce -0.3%
ABT Abbott Laboratories	2.88%	194,129	$26.4M	Reduce -1.4%
ORLY O'reilly Automotive Inc.	2.87%	292,335	$26.3M	Reduce -3.0%
PG The Procter & Gamble Co.	2.77%	159,619	$25.4M	Reduce -0.8%
EBAY eBay Inc.	2.55%	314,228	$23.4M	Reduce -1.2%
IDXX Idexx Laboratories Inc.	2.27%	38,918	$20.9M	Reduce -2.0%
PH Parker Hannifin Corp.	2.21%	29,060	$20.3M	Reduce -0.1%
PGR Progressive Corp.	2.01%	69,312	$18.5M	Reduce -2.1%
VWO Vanguard Ftse Emerging Marke	2.01%	373,383	$18.5M	Reduce -0.1%
GE General Electric filed as GE AEROSPACE	1.71%	60,850	$15.7M	Reduce -0.0%
NTRS Northern Trust Corp.	1.65%	119,776	$15.2M	Reduce -1.4%
XOM Exxon Mobil Corp.	1.64%	139,964	$15.1M	Reduce -1.8%
WMT Walmart Inc.	1.59%	149,585	$14.6M	Reduce -1.1%
HR Healthcare Realty Trust Inc.	1.57%	909,932	$14.4M	Add +6.8%
DXCM Dexcom Inc.	1.51%	158,655	$13.8M	Reduce -3.8%
PYPL PayPal Holdings Inc.	1.43%	176,156	$13.1M	Reduce -1.4%
EOG EOG Resources Inc.	1.38%	106,173	$12.7M	Add +1.8%
KO The Coca-Cola Co.	1.35%	175,794	$12.4M	Reduce -0.3%
ECL Ecolab Inc.	1.27%	43,361	$11.7M	Reduce -2.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO	1.27%	93,938	$11.6M	Reduce -1.9%
PEP Pepsico Inc.	1.26%	87,298	$11.5M	Add +1.5%
SYK Stryker Corp.	1.21%	28,136	$11.1M	Add +1.2%
WFC Wells Fargo & Co.	1.13%	129,604	$10.4M	Reduce -0.1%
VOO Vanguard S&P 500 ETF	1.04%	16,846	$9.6M	No change
BRK.B Berkshire Hathaway Inc. Class B	1.02%	19,195	$9.3M	Reduce -0.1%
PFE Pfizer Inc.	0.97%	366,921	$8.9M	Add +4.4%
JNJ Johnson & Johnson	0.92%	55,240	$8.4M	Reduce -0.4%
GEV GE Vernova Inc.	0.87%	15,023	$7.9M	Add +0.1%
VIOO Vanguard S&P Small-Cap 600 E	0.83%	75,112	$7.6M	Reduce -0.7%
WBA Walgreens Boots Alliance Inc.	0.78%	627,121	$7.2M	Reduce -2.0%
MCD McDonald's Corp.	0.78%	24,552	$7.2M	Reduce -0.6%
GOOGL Alphabet Inc. Class A	0.77%	40,168	$7.1M	Reduce -3.6%
PCOR Procore Technologies Inc.	0.68%	91,399	$6.3M	Add +1.0%
BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP	0.68%	92,120	$6.2M	Add +0.7%
NVDA Nvidia Corp.	0.62%	35,748	$5.6M	Reduce -7.0%
MRK Merck & Co. Inc.	0.59%	68,663	$5.4M	Reduce -1.6%
TPR Tapestry Inc.	0.58%	60,475	$5.3M	No change
EMR Emerson Electric Co.	0.55%	37,973	$5.1M	Reduce -0.2%
DHR Danaher Corp.	0.52%	24,084	$4.8M	Add +12.6%
CVX Chevron Corp.	0.52%	33,057	$4.7M	No change
EW Edwards Lifesciences Corp.	0.51%	59,741	$4.7M	Reduce -4.8%
GLDM SPDR Gold Minishares Trust	0.47%	66,375	$4.3M	No change
SHW The Sherwin-Williams Co.	0.44%	11,849	$4.1M	Reduce -0.6%
EXPD Expeditors Intl Wash Inc.	0.43%	34,732	$4.0M	Reduce -1.4%
RTX RTX Corp.	0.43%	26,881	$3.9M	No change
APD Air Products & Chemicals Inc.	0.41%	13,210	$3.7M	Reduce -0.6%
GOOG Alphabet Inc. Class C	0.40%	20,664	$3.7M	Reduce -1.9%
CB Chubb Ltd.	0.40%	12,611	$3.7M	Reduce -9.3%
LLY Eli Lilly & Co.	0.37%	4,414	$3.4M	No change
VBR Vngrd Mrngst SL-CP Val ETF-U	0.37%	17,391	$3.4M	Reduce -1.1%
JPM JPMorgan Chase & Co.	0.35%	11,074	$3.2M	Reduce -10.0%
SHEL Shell PLC-ADR	0.33%	42,450	$3.0M	Reduce -0.1%
HD Home Depot Inc.	0.31%	7,694	$2.8M	Reduce -11.1%
VB Vanguard Most SM-Cap ETF-Usd	0.31%	11,902	$2.8M	No change
AXP American Express Co.	0.29%	8,371	$2.7M	Reduce -11.5%
UNP Union Pacific Corp.	0.29%	11,532	$2.7M	Reduce -1.9%
DEO Diageo PLC-Sponsored ADR	0.26%	23,964	$2.4M	Add +0.2%
LRCX Lam Research Corp.	0.25%	23,400	$2.3M	No change
SIVR Abrdn Physical Silver Shares	0.23%	61,700	$2.1M	No change
IVOO Vanguard S&P Mid-Cap 400 ETF	0.23%	19,830	$2.1M	No change
AMZN Amazon.com Inc.	0.22%	9,350	$2.1M	No change
VNQ Vanguard Real Estate ETF	0.21%	21,900	$2.0M	No change
COST Costco Wholesale Corp.	0.21%	1,955	$1.9M	Reduce -6.5%
TEL Te Connectivity PLC	0.20%	11,046	$1.9M	No change
NKE Nike Inc. Class B	0.20%	25,280	$1.8M	Reduce -10.6%
SGOL Abrdn Physical Gold Shares	0.19%	54,600	$1.7M	No change
NSC Norfolk Southern Corp.	0.18%	6,572	$1.7M	Reduce -6.4%
MDY State Street SPDR S&P Midcap	0.17%	2,700	$1.5M	No change
DUK Duke Energy Corp.	0.15%	11,958	$1.4M	Reduce -1.6%
QQQM Invesco Nasdaq 100 ETF	0.14%	5,801	$1.3M	No change
CAT Caterpillar Inc.	0.14%	3,382	$1.3M	Reduce -6.9%
GEHC GE Healthcare Technology	0.14%	17,670	$1.3M	Reduce -0.0%
VTWO Vanguard Russell 2000 ETF	0.13%	14,165	$1.2M	No change
EEM iShares MSCI Emerging Market	0.13%	24,100	$1.2M	No change
NEE Nextera Energy Inc.	0.13%	16,649	$1.2M	No change
AON Aon PLC Class A	0.12%	3,125	$1.1M	No change
VIG Vanguard Dividend Apprec ETF	0.12%	5,433	$1.1M	Add +9.3%
CARR Carrier Global Corp.	0.12%	14,930	$1.1M	Reduce -9.1%
IVV iShares Core S&P 500 ETF	0.11%	1,596	$991K	No change
SBUX Starbucks Corp.	0.10%	9,780	$896K	Reduce -13.7%
VFH Vanguard Financials ETF	0.10%	6,850	$872K	No change
VLTO Veralto Corp.	0.09%	8,604	$869K	Reduce -0.0%
QQQ Invesco QQQ Trust Series 1	0.09%	1,507	$831K	No change
VNQI Vanguard GLBL Ex-US Real Est	0.09%	17,950	$828K	No change
OTIS Otis Worldwide Corp.	0.08%	7,769	$769K	No change
TDG Transdigm Group Inc.	0.08%	500	$760K	No change
DVYE iShares Emerging Markets Div	0.08%	25,300	$725K	No change
NOC Northrop Grumman Corp.	0.08%	1,411	$705K	No change
EFT Eaton Vance Fltng RT Inc. TR	0.08%	56,450	$704K	Reduce -9.8%
AXON Axon Enterprise Inc.	0.08%	850	$704K	No change
RSMC Rockefeller US Small-Mid Cap	0.07%	26,039	$676K	Add +13.1%
CSL Carlisle Cos Inc.	0.07%	1,800	$672K	No change
FTV Fortive Corp.	0.07%	12,820	$668K	Add +1.6%
ITW Illinois Tool Works	0.07%	2,675	$661K	No change

Show all 203 holdings

Portfolio Sells Q1 2025 → Q2 2025


FISV Fiserv Inc.	Reduce -0.3%	3.23%	−1.06
AAPL Apple Inc.	Reduce -2.3%	5.65%	−0.82
ABBV Abbvie Inc.	Reduce -1.3%	3.74%	−0.68
ORLY O'reilly Automotive Inc.	Reduce -3.0%	2.87%	−0.37
PG The Procter & Gamble Co.	Reduce -0.8%	2.77%	−0.32
XOM Exxon Mobil Corp.	Reduce -1.8%	1.64%	−0.26
PGR Progressive Corp.	Reduce -2.1%	2.01%	−0.24
ADP Automatic Data Processing	Reduce -1.2%	4.29%	−0.16
BRK.B Berkshire Hathaway Inc. Class B	Reduce -0.1%	1.02%	−0.14
JNJ Johnson & Johnson	Reduce -0.4%	0.92%	−0.12
MRK Merck & Co. Inc.	Reduce -1.6%	0.59%	−0.11
MCD McDonald's Corp.	Reduce -0.6%	0.78%	−0.09
CB Chubb Ltd.	Reduce -9.3%	0.40%	−0.07
KO The Coca-Cola Co.	Reduce -0.3%	1.35%	−0.07
ABT Abbott Laboratories	Reduce -1.4%	2.88%	−0.07
HD Home Depot Inc.	Reduce -11.1%	0.31%	−0.05
MDT Medtronic PLC	Sold out	0.00%	−0.05
EXPD Expeditors Intl Wash Inc.	Reduce -1.4%	0.43%	−0.04
ROL Rollins Inc.	Sold out	0.00%	−0.04
BMY Bristol-Myers Squibb Co.	Reduce -42.8%	0.03%	−0.04
APD Air Products & Chemicals Inc.	Reduce -0.6%	0.41%	−0.04
SBUX Starbucks Corp.	Reduce -13.7%	0.10%	−0.03
BXSL Blackstone Secured Lending F	Sold out	0.00%	−0.03
IEX Idex Corp.	Sold out	0.00%	−0.03
SHW The Sherwin-Williams Co.	Reduce -0.6%	0.44%	−0.03
SHEL Shell PLC-ADR	Reduce -0.1%	0.33%	−0.02
DE Deere & Co.	Sold out	0.00%	−0.02
UNP Union Pacific Corp.	Reduce -1.9%	0.29%	−0.02
WBA Walgreens Boots Alliance Inc.	Reduce -2.0%	0.78%	−0.02
GEHC GE Healthcare Technology	Reduce -0.0%	0.14%	−0.02
OGN Organon & Co.	Reduce -16.6%	0.02%	−0.02
PAYX Paychex Inc.	Reduce -13.6%	0.06%	−0.02
DUK Duke Energy Corp.	Reduce -1.6%	0.15%	−0.01
LKQ LKQ Corp.	Reduce -0.1%	0.06%	−0.01
COST Costco Wholesale Corp.	Reduce -6.5%	0.21%	−0.01
EFT Eaton Vance Fltng RT Inc. TR	Reduce -9.8%	0.08%	−0.01
AMLP Alerian MLP ETF	Reduce -10.0%	0.05%	−0.01
INTC Intel Corp.	Reduce -13.0%	0.05%	−0.01
SLB SLB Ltd.	Reduce -2.8%	0.03%	−0.01
FBRT Franklin BSP Realty Trust Inc.	Reduce -10.3%	0.02%	−0.01
XEFRX Eaton Vance Sr FLTG Rate TR	Reduce -9.7%	0.05%	−0.01
OCSL Oaktree Specialty Lending Co.	Reduce -10.2%	0.03%	−0.01
OKE Oneok Inc.	Reduce -1.7%	0.03%	−0.01
IBHF iShares Ibond 2026 HY & Inc.	Reduce -9.7%	0.05%	−0.01
NKE Nike Inc. Class B	Reduce -10.6%	0.20%	−0.01
IBHG iShares Ibonds 2027 HY Inc.	Reduce -10.0%	0.04%	−0.01
HYT BlackRock Corp. Hi YLD	Reduce -10.0%	0.03%	−0.00
IBHH iShares Ibonds 2028 TM HY Inc.	Reduce -10.0%	0.03%	−0.00
PHO Invesco Water Resources ETF	Reduce -15.7%	0.03%	−0.00
NSC Norfolk Southern Corp.	Reduce -6.4%	0.18%	−0.00

Portfolio Buys Q1 2025 → Q2 2025


GEV GE Vernova Inc.	Add +0.1%	0.87%	+0.35
SYK Stryker Corp.	Add +1.2%	1.21%	+0.05
DHR Danaher Corp.	Add +12.6%	0.52%	+0.02
TSLA Tesla Inc.	New	0.02%	+0.02
RSMC Rockefeller US Small-Mid Cap	Add +13.1%	0.07%	+0.01
VIG Vanguard Dividend Apprec ETF	Add +9.3%	0.12%	+0.01
PCOR Procore Technologies Inc.	Add +1.0%	0.68%	+0.01
SPY SS SPDR S&P 500 ETF Trust-US	Add +0.1%	0.05%	+0.00
TR Tootsie Roll Inds	Add +3.0%	0.05%	+0.00
CRDL Cardiol Therapeutics Inc. Class A	Add +8.1%	0.01%	+0.00
DEO Diageo PLC-Sponsored ADR	Add +0.2%	0.26%	−0.02
FTV Fortive Corp.	Add +1.6%	0.07%	−0.03
BOH Bank of Hawaii Corp.	Add +0.7%	0.68%	−0.03
PFE Pfizer Inc.	Add +4.4%	0.97%	−0.03
HR Healthcare Realty Trust Inc.	Add +6.8%	1.57%	−0.05
EOG EOG Resources Inc.	Add +1.8%	1.38%	−0.12
PEP Pepsico Inc.	Add +1.5%	1.26%	−0.20

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