Marble Harbor Investment Counsel, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Marble Harbor Investment Counsel, LLC reported 185 stock positions worth $935.5 million. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Apple (AAPL, 7.1%) and Abbvie (ABBV, 4.5%). Compared with Q3 2025, it opened 3 new positions, sold out of 7, added to 28 and reduced 72. The biggest buy was Nike Class B (NKE, shares +119%) and the biggest sale an exit from Tapestry (TPR).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001387130
Portfolio Value
$935.5M (Q4 2025)
SEC Filing
0001420506-26-000187 ↗ filed Feb 6, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $867.5M Q1 2024 Q2 2024: $849.9M Q2 2024 Q3 2024: $914.1M Q3 2024 Q4 2024: $907.2M Q4 2024 Q1 2025: $888.2M Q1 2025 Q2 2025: $918.1M Q2 2025 Q3 2025: $954.7M Q3 2025 Q4 2025: $935.5M $935.5M Q4 2025 Q1 2026: $922.9M Q1 2026 Q2 2026: $984.0M Q2 2026

Holdings 185 stocks · $935.5M
MSFT Microsoft Corp. 7.53% 145,634 $70.4M Reduce -1.5%
AAPL Apple Inc. 7.15% 245,881 $66.8M Reduce -1.5%
ABBV Abbvie Inc. 4.45% 182,302 $41.7M Reduce -1.0%
CSCO Cisco Systems Inc. 3.73% 452,909 $34.9M Reduce -0.5%
ADP Automatic Data Processing 3.48% 126,561 $32.6M Reduce -0.5%
EBAY eBay Inc. 2.92% 313,143 $27.3M Reduce -0.2%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 2.78% 314,020 $26.0M Reduce -3.5%
ORLY O'reilly Automotive Inc. 2.77% 283,746 $25.9M Reduce -1.9%
PH Parker Hannifin Corp. 2.68% 28,519 $25.1M Reduce -1.7%
IDXX Idexx Laboratories Inc. 2.64% 36,520 $24.7M Reduce -0.4%
ABT Abbott Laboratories 2.60% 194,102 $24.3M Add +0.0%
PG The Procter & Gamble Co. 2.47% 161,173 $23.1M Add +1.5%
VWO Vanguard Ftse Emerging Marke 2.23% 387,782 $20.8M Reduce -1.8%
GE General Electric filed as GE AEROSPACE 2.00% 60,616 $18.7M Reduce -0.3%
FISV Fiserv Inc. 1.81% 251,988 $16.9M Add +49.2%
XOM Exxon Mobil Corp. 1.78% 138,673 $16.7M Reduce -0.5%
WMT Walmart Inc. 1.75% 146,610 $16.3M Reduce -1.8%
NTRS Northern Trust Corp. 1.74% 119,336 $16.3M Reduce -0.1%
HR Healthcare Realty Trust Inc. 1.67% 918,982 $15.6M Add +1.9%
PGR Progressive Corp. 1.66% 68,157 $15.5M Reduce -0.6%
EOG EOG Resources Inc. 1.33% 118,629 $12.5M Add +9.4%
KO The Coca-Cola Co. 1.31% 175,234 $12.3M Reduce -0.2%
WFC Wells Fargo & Co. 1.30% 130,204 $12.1M Add +0.1%
GOOGL Alphabet Inc. Class A 1.28% 38,298 $12.0M Reduce -2.6%
PEP Pepsico Inc. 1.25% 81,548 $11.7M Reduce -1.2%
ECL Ecolab Inc. 1.21% 43,212 $11.3M Reduce -0.4%
JNJ Johnson & Johnson 1.19% 53,972 $11.2M Reduce -1.6%
PFE Pfizer Inc. 1.19% 445,948 $11.1M Add +13.4%
PYPL PayPal Holdings Inc. 1.18% 189,278 $11.1M Add +3.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.15% 94,838 $10.8M Reduce -0.1%
VOO Vanguard S&P 500 ETF 1.05% 15,646 $9.8M Reduce -7.1%
SYK Stryker Corp. 1.04% 27,786 $9.8M Reduce -0.9%
BRK.B Berkshire Hathaway Inc. Class B 1.03% 19,159 $9.6M Reduce -0.1%
VIOO Vanguard S&P Small-Cap 600 E 0.97% 81,549 $9.0M Add +4.3%
DXCM Dexcom Inc. 0.88% 123,572 $8.2M Reduce -24.2%
PCOR Procore Technologies Inc. 0.85% 108,689 $7.9M Add +4.4%
BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP 0.82% 112,199 $7.7M Add +14.3%
MCD McDonald's Corp. 0.80% 24,552 $7.5M No change
MRK Merck & Co. Inc. 0.76% 67,506 $7.1M Reduce -1.8%
GEV GE Vernova Inc. 0.72% 10,242 $6.7M Reduce -31.8%
NVDA Nvidia Corp. 0.70% 34,971 $6.5M Reduce -2.2%
GOOG Alphabet Inc. Class C 0.68% 20,417 $6.4M No change
DHR Danaher Corp. 0.59% 23,982 $5.5M Add +0.3%
EXPD Expeditors Intl Wash Inc. 0.55% 34,532 $5.1M Reduce -0.6%
EW Edwards Lifesciences Corp. 0.54% 59,741 $5.1M No change
CVX Chevron Corp. 0.54% 32,957 $5.0M No change
EMR Emerson Electric Co. 0.53% 37,498 $5.0M Reduce -0.3%
RTX RTX Corp. 0.52% 26,691 $4.9M Reduce -0.4%
GLDM SPDR Gold Minishares Trust 0.49% 53,400 $4.6M Reduce -16.6%
LLY Eli Lilly & Co. 0.48% 4,164 $4.5M Add +7.8%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.47% 20,944 $4.4M Add +9.4%
CB Chubb Ltd. 0.42% 12,691 $4.0M Reduce -0.2%
LRCX Lam Research Corp. 0.42% 23,100 $4.0M Reduce -2.3%
SHW The Sherwin-Williams Co. 0.42% 12,018 $3.9M Add +0.8%
NKE Nike Inc. Class B 0.41% 60,005 $3.8M Add +118.8%
SIVR Abrdn Physical Silver Shares 0.40% 55,600 $3.8M Reduce -8.4%
JPM JPMorgan Chase & Co. 0.37% 10,874 $3.5M Reduce -0.9%
VB Vanguard Most SM-Cap ETF-Usd 0.33% 11,994 $3.1M Add +0.3%
AXP American Express Co. 0.33% 8,356 $3.1M Reduce -0.2%
APD Air Products & Chemicals Inc. 0.32% 12,300 $3.0M Reduce -1.2%
SHEL Shell PLC-ADR 0.32% 40,100 $2.9M Reduce -0.7%
DEO Diageo PLC-Sponsored ADR 0.30% 32,418 $2.8M Add +34.9%
HD Home Depot Inc. 0.28% 7,554 $2.6M Reduce -1.5%
UNP Union Pacific Corp. 0.28% 11,132 $2.6M Reduce -2.2%
TEL Te Connectivity PLC 0.27% 11,046 $2.5M No change
SGOL Abrdn Physical Gold Shares 0.24% 54,600 $2.2M No change
VNQ Vanguard Real Estate ETF 0.23% 24,500 $2.2M Add +11.9%
IVOO Vanguard S&P Mid-Cap 400 ETF 0.21% 17,750 $2.0M Reduce -10.5%
AMZN Amazon.com Inc. 0.21% 8,450 $2.0M Reduce -5.1%
CAT Caterpillar Inc. 0.20% 3,347 $1.9M No change
NSC Norfolk Southern Corp. 0.19% 6,067 $1.8M Reduce -5.4%
COST Costco Wholesale Corp. 0.18% 1,980 $1.7M Reduce -5.9%
VIG Vanguard Dividend Apprec ETF 0.18% 7,638 $1.7M Add +37.9%
MDY State Street SPDR S&P Midcap 0.17% 2,700 $1.6M No change
QQQM Invesco Nasdaq 100 ETF 0.16% 5,801 $1.5M No change
VTWO Vanguard Russell 2000 ETF 0.15% 14,165 $1.4M No change
DUK Duke Energy Corp. 0.15% 11,958 $1.4M No change
GEHC GE Healthcare Technology 0.15% 17,018 $1.4M Reduce -1.6%
EEM iShares MSCI Emerging Market 0.14% 23,800 $1.3M No change
IVV iShares Core S&P 500 ETF 0.14% 1,887 $1.3M Reduce -8.1%
NEE Nextera Energy Inc. 0.14% 16,049 $1.3M No change
AON Aon PLC Class A 0.12% 3,110 $1.1M No change
FTV Fortive Corp. 0.10% 16,918 $934K Reduce -4.6%
VFH Vanguard Financials ETF 0.10% 6,850 $914K No change
VNQI Vanguard GLBL Ex-US Real Est 0.09% 18,850 $864K Add +5.0%
RY Royal Bank of Canada 0.09% 5,006 $853K No change
VLTO Veralto Corp. 0.09% 8,468 $845K Reduce -0.3%
NOC Northrop Grumman Corp. 0.09% 1,411 $805K No change
SBUX Starbucks Corp. 0.08% 9,370 $789K Reduce -2.2%
CARR Carrier Global Corp. 0.08% 14,930 $789K No change
INTC Intel Corp. 0.08% 20,930 $772K Reduce -2.0%
AMGN Amgen Inc. 0.08% 2,174 $712K Reduce -5.2%
ROK Rockwell Automation Inc. 0.07% 1,800 $700K No change
VGT Vanguard Info Tech ETF 0.07% 925 $697K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.07% 12,400 $682K Reduce -5.3%
BDX Becton Dickinson and Co. 0.07% 3,480 $675K No change
TDG Transdigm Group Inc. 0.07% 500 $665K No change
RSMC Rockefeller US Small-Mid Cap 0.07% 26,039 $657K No change
TR Tootsie Roll Inds 0.07% 17,608 $645K Add +16.6%
GS Goldman Sachs Group Inc. 0.07% 731 $643K No change
DVYE iShares Emerging Markets Div 0.07% 20,400 $636K Reduce -19.4%
ACN Accenture PLC Class A 0.07% 2,360 $633K Add +2.2%
BA The Boeing Co. 0.07% 2,900 $630K No change
ITW Illinois Tool Works 0.07% 2,550 $628K Reduce -4.7%
WM Waste Management Inc. 0.07% 2,823 $620K No change
HBAN Huntington Bancshares Inc. 0.07% 35,689 $619K No change
OTIS Otis Worldwide Corp. 0.07% 7,019 $613K No change
FDX FedEx Corp. 0.06% 2,050 $592K No change
SNOW Snowflake Inc. 0.06% 2,680 $588K Reduce -6.5%
ADI Analog Devices Inc. 0.06% 2,126 $577K No change
QQQ Invesco QQQ Trust Series 1 0.06% 916 $563K Reduce -39.2%
SO The Southern Co. 0.06% 6,397 $558K No change
PM Philip Morris International 0.06% 3,443 $552K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 1,823 $540K No change
HOLX Hologic Inc. 0.06% 7,242 $539K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 763 $520K Reduce -4.6%
HUBB Hubbell Inc. 0.06% 1,170 $520K No change
TSCO Tractor Supply Company 0.06% 10,300 $515K No change
CSL Carlisle Cos Inc. 0.05% 1,600 $512K Reduce -11.1%
ENB Enbridge Inc. 0.05% 10,678 $511K No change
TD Toronto-Dominion Bank 0.05% 5,309 $500K Add +8.1%
HIFS Hingham Institution for SVGS 0.05% 1,755 $498K No change
SLYV SS SPDR S&P 600 SC Val ETF 0.05% 5,450 $496K No change
AXON Axon Enterprise Inc. 0.05% 850 $483K No change
WAT Waters Corp. 0.05% 1,230 $467K Reduce -6.3%
KLAC KLA Corp. 0.05% 380 $462K No change
CMI Cummins Inc. 0.05% 900 $459K No change
CL Colgate-Palmolive Co. 0.05% 5,691 $450K Reduce -2.6%
T AT&T Inc. 0.05% 18,098 $450K Reduce -2.8%
ORCL Oracle Corp. 0.05% 2,300 $448K Reduce -4.2%
PAYX Paychex Inc. 0.05% 3,978 $446K No change
SYY Sysco Corp. 0.05% 6,030 $444K No change
FDIQ Inv BLB Fin Data PRV ETF-Usi 0.05% 7,150 $442K No change
HON Honeywell International Inc. 0.05% 2,222 $433K No change
BX Blackstone Inc. 0.05% 2,800 $432K Reduce -6.7%
RPM RPM International Inc. 0.05% 4,100 $426K No change
PNR Pentair PLC 0.05% 4,080 $425K Reduce -7.9%
WEC WEC Energy Group Inc. 0.04% 3,982 $420K No change
IJH iShares Core S&P Midcap ETF 0.04% 6,335 $418K No change
ROP Roper Technologies Inc. 0.04% 922 $410K No change
SRE Sempra 0.04% 4,500 $397K No change
IEFA iShares Core MSCI Eafe ETF 0.04% 4,423 $396K No change
COP Conocophillips 0.04% 3,869 $362K No change
WY Weyerhaeuser Co. 0.04% 15,275 $362K Add +54.7%
LOW Lowe's Cos Inc. 0.04% 1,495 $361K No change
LH Labcorp Holdings Inc. 0.04% 1,437 $361K No change
META Meta Platforms Inc. Class A 0.04% 530 $350K No change
NUE Nucor Corp. 0.04% 2,050 $334K No change
DOV Dover Corp. 0.04% 1,708 $333K No change
NTR Nutrien Ltd. 0.04% 5,370 $331K No change
GPC Genuine Parts Co. 0.03% 2,637 $324K No change
V Visa Inc. Class A 0.03% 924 $324K Reduce -8.0%
USB US Bancorp 0.03% 5,779 $308K No change
IUSG iShares Core S&P U.S. Growth 0.03% 1,800 $302K No change
IWR iShares Russell Mid-Cap ETF 0.03% 3,095 $298K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.03% 2,550 $296K No change
TSLA Tesla Inc. 0.03% 655 $295K No change
AVB Avalonbay Communities Inc. 0.03% 1,620 $294K Add +15.7%
EBC Eastern Bankshares Inc. 0.03% 15,866 $292K Add +27.7%
TMO Thermo Fisher Scientific Inc. 0.03% 500 $290K Reduce -26.9%
BMY Bristol-Myers Squibb Co. 0.03% 5,343 $288K No change
PHO Invesco Water Resources ETF 0.03% 4,033 $284K No change
ICE Intercontinental Exchange Inc. 0.03% 1,750 $283K No change
SNA Snap-on Inc. 0.03% 815 $281K No change
WDFC WD-40 Co. 0.03% 1,400 $276K No change
DFUV Dimensional US Marketwide Va 0.03% 5,877 $274K No change
SHY iShares 1-3 Year Treasury Bo 0.03% 3,172 $263K Add +1.4%
QCOM Qualcomm Inc. 0.03% 1,526 $261K Reduce -23.7%
MOS The Mosaic Co. 0.03% 10,795 $260K Reduce -23.9%
LNT Alliant Energy Corp. 0.03% 4,000 $260K No change
AMAT Applied Materials Inc. 0.03% 1,000 $257K No change
AEM Agnico Eagle Mines Ltd. 0.03% 1,500 $254K No change
L Loews Corp. 0.03% 2,300 $242K No change
CINF Cincinnati Financial Corp. 0.03% 1,458 $238K No change
CTVA Corteva Inc. 0.02% 3,378 $226K No change
SLB SLB Ltd. filed as SLB LIMITED 0.02% 5,826 $224K Reduce -25.1%
ATO Atmos Energy Corp. 0.02% 1,333 $223K No change
KMB Kimberly-Clark Corp. 0.02% 2,124 $214K Reduce -2.3%
UPS United Parcel Service Class B 0.02% 2,155 $214K New
OKE Oneok Inc. 0.02% 2,850 $209K No change
IUSV iShares Core S&P U.S. Value 0.02% 2,000 $205K New
F Ford Motor Co. filed as FORD MTR CO 0.02% 12,350 $162K No change
PRCH Porch Group Inc. 0.01% 10,600 $97K New
CRDL Cardiol Therapeutics Inc. Class A 0.00% 39,900 $38K No change
EVGO Evgo Inc. 0.00% 10,900 $32K No change

Portfolio Sells Q3 2025 → Q4 2025
TPR Tapestry Inc. Sold out 0.00% −0.71
IRM Iron Mountain Inc. Reduce -3.5% 2.78% −0.69
ORLY O'reilly Automotive Inc. Reduce -1.9% 2.77% −0.50
MSFT Microsoft Corp. Reduce -1.5% 7.53% −0.49
ADP Automatic Data Processing Reduce -0.5% 3.48% −0.43
DXCM Dexcom Inc. Reduce -24.2% 0.88% −0.27
GEV GE Vernova Inc. Reduce -31.8% 0.72% −0.25
PGR Progressive Corp. Reduce -0.6% 1.66% −0.12
EBAY eBay Inc. Reduce -0.2% 2.92% −0.07
MAS Masco Corp. Sold out 0.00% −0.05
HD Home Depot Inc. Reduce -1.5% 0.28% −0.05
SYK Stryker Corp. Reduce -0.9% 1.04% −0.04
DD Dupont DE Nemours Inc. Sold out 0.00% −0.04
QQQ Invesco QQQ Trust Series 1 Reduce -39.2% 0.06% −0.03
ECL Ecolab Inc. Reduce -0.4% 1.21% −0.03
VOO Vanguard S&P 500 ETF Reduce -7.1% 1.05% −0.03
APD Air Products & Chemicals Inc. Reduce -1.2% 0.32% −0.03
MA Mastercard Inc. Class A Sold out 0.00% −0.03
GLDM SPDR Gold Minishares Trust Reduce -16.6% 0.49% −0.03
MOS The Mosaic Co. Reduce -23.9% 0.03% −0.02
ORCL Oracle Corp. Reduce -4.2% 0.05% −0.02
FTNT Fortinet Inc. Sold out 0.00% −0.02
COST Costco Wholesale Corp. Reduce -5.9% 0.18% −0.02
DGX Quest Diagnostics Inc. Sold out 0.00% −0.02
AEP American Electric Power Sold out 0.00% −0.02
IVOO Vanguard S&P Mid-Cap 400 ETF Reduce -10.5% 0.21% −0.02
ABBV Abbvie Inc. Reduce -1.0% 4.45% −0.01
NSC Norfolk Southern Corp. Reduce -5.4% 0.19% −0.01
VWO Vanguard Ftse Emerging Marke Reduce -1.8% 2.23% −0.01
DVYE iShares Emerging Markets Div Reduce -19.4% 0.07% −0.01
BX Blackstone Inc. Reduce -6.7% 0.05% −0.01
CSL Carlisle Cos Inc. Reduce -11.1% 0.05% −0.01
T AT&T Inc. Reduce -2.8% 0.05% −0.01
QCOM Qualcomm Inc. Reduce -23.7% 0.03% −0.01
UNP Union Pacific Corp. Reduce -2.2% 0.28% −0.01
PNR Pentair PLC Reduce -7.9% 0.05% −0.01
ITW Illinois Tool Works Reduce -4.7% 0.07% −0.01
IVV iShares Core S&P 500 ETF Reduce -8.1% 0.14% −0.01
KMB Kimberly-Clark Corp. Reduce -2.3% 0.02% −0.01
SNOW Snowflake Inc. Reduce -6.5% 0.06% −0.00
VLTO Veralto Corp. Reduce -0.3% 0.09% −0.00
SLB SLB Ltd. Reduce -25.1% 0.02% −0.00
TMO Thermo Fisher Scientific Inc. Reduce -26.9% 0.03% −0.00
NVDA Nvidia Corp. Reduce -2.2% 0.70% −0.00
V Visa Inc. Class A Reduce -8.0% 0.03% −0.00
CL Colgate-Palmolive Co. Reduce -2.6% 0.05% −0.00
SBUX Starbucks Corp. Reduce -2.2% 0.08% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -4.6% 0.06% −0.00
BAC Bank of America Corp. Reduce -5.3% 0.07% +0.00
AMZN Amazon.com Inc. Reduce -5.1% 0.21% +0.00

Portfolio Buys Q3 2025 → Q4 2025
NKE Nike Inc. Class B Add +118.8% 0.41% +0.21
LLY Eli Lilly & Co. Add +7.8% 0.48% +0.17
WFC Wells Fargo & Co. Add +0.1% 1.30% +0.16
BOH Bank of Hawaii Corp. Add +14.3% 0.82% +0.15
PFE Pfizer Inc. Add +13.4% 1.19% +0.14
DHR Danaher Corp. Add +0.3% 0.59% +0.09
VIOO Vanguard S&P Small-Cap 600 E Add +4.3% 0.97% +0.06
DEO Diageo PLC-Sponsored ADR Add +34.9% 0.30% +0.06
EOG EOG Resources Inc. Add +9.4% 1.33% +0.06
VBR Vngrd Mrngst SL-CP Val ETF-U Add +9.4% 0.47% +0.06
VIG Vanguard Dividend Apprec ETF Add +37.9% 0.18% +0.05
PCOR Procore Technologies Inc. Add +4.4% 0.85% +0.05
UPS United Parcel Service Class B New 0.02% +0.02
VNQ Vanguard Real Estate ETF Add +11.9% 0.23% +0.02
IUSV iShares Core S&P U.S. Value New 0.02% +0.02
WY Weyerhaeuser Co. Add +54.7% 0.04% +0.01
TD Toronto-Dominion Bank Add +8.1% 0.05% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +0.3% 0.33% +0.01
PRCH Porch Group Inc. New 0.01% +0.01
ACN Accenture PLC Class A Add +2.2% 0.07% +0.01
EBC Eastern Bankshares Inc. Add +27.7% 0.03% +0.01
AVB Avalonbay Communities Inc. Add +15.7% 0.03% +0.00
TR Tootsie Roll Inds Add +16.6% 0.07% +0.00
VNQI Vanguard GLBL Ex-US Real Est Add +5.0% 0.09% +0.00
SHY iShares 1-3 Year Treasury Bo Add +1.4% 0.03% +0.00
SHW The Sherwin-Williams Co. Add +0.8% 0.42% −0.02
HR Healthcare Realty Trust Inc. Add +1.9% 1.67% −0.04
PG The Procter & Gamble Co. Add +1.5% 2.47% −0.09
PYPL PayPal Holdings Inc. Add +3.8% 1.18% −0.10
ABT Abbott Laboratories Add +0.0% 2.60% −0.12
FISV Fiserv Inc. Add +49.2% 1.81% −0.47

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 200$984.0MAAPL, CSCO, MSFT, ABBV, IRM
Q1 2026 192$922.9MAAPL, MSFT, ABBV, CSCO, IRM
Q4 2025 185$935.5MMSFT, AAPL, ABBV, CSCO, ADP
Q3 2025 189$954.7MMSFT, AAPL, ABBV, ADP, IRM
Q2 2025 203$918.1MMSFT, AAPL, ADP, ABBV, IRM
Q1 2025 206$888.2MAAPL, MSFT, ADP, ABBV, FISV
Q4 2024 206$907.2MAAPL, MSFT, ADP, FISV, IRM
Q3 2024 210$914.1MMSFT, AAPL, IRM, ABBV, ADP
Q2 2024 204$849.9MMSFT, AAPL, IRM, ABBV, ADP
Q1 2024 204$867.5MMSFT, AAPL, IRM, ABBV, ADP