Martin Capital Advisors, LLP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 28, 2025), Martin Capital Advisors, LLP reported 69 stock positions worth $155.2 million. Its top holding was Apple (AAPL) at 23.8% of the portfolio, followed by Intuitive Surgical (ISRG, 6.8%) and Nvidia (NVDA, 6.3%). Compared with Q3 2024, it opened 3 new positions, sold out of 1, added to 25 and reduced 10. The biggest buy was Nvidia (NVDA, shares +29%) and the biggest sale VG Morningstar TS MKT ETF-US (VTI, shares −0%).

Most Recent 13F
Q2 2026
Location
SAN ANTONIO, TX
CIK
0001904126
Portfolio Value
$155.2M (Q4 2024)
SEC Filing
0001398344-25-001277 ↗ filed Jan 28, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $127.5M Q1 2024 Q2 2024: $133.3M Q2 2024 Q3 2024: $140.4M Q3 2024 Q4 2024: $155.2M $155.2M Q4 2024 Q1 2025: $140.2M Q1 2025 Q2 2025: $153.7M Q2 2025 Q3 2025: $165.7M Q3 2025 Q4 2025: $170.5M Q4 2025 Q1 2026: $158.3M Q1 2026 Q2 2026: $190.8M Q2 2026

Holdings 69 stocks · $155.2M
AAPL Apple Inc. 23.78% 147,339 $36.9M Add +5.3%
ISRG Intuitive Surgical Inc. 6.80% 20,206 $10.5M Add +4.3%
NVDA Nvidia Corp. 6.29% 72,723 $9.8M Add +29.2%
QQQ Invesco QQQ Trust Series 1 4.91% 14,902 $7.6M Add +1.0%
VTI VG Morningstar TS MKT ETF-US 3.88% 20,796 $6.0M Reduce -0.2%
MA Mastercard Inc. Class A 3.35% 9,869 $5.2M Add +3.6%
WSM Williams-Sonoma Inc. 2.95% 24,762 $4.6M Add +4.1%
COST Costco Wholesale Corp. 2.79% 4,726 $4.3M Add +6.6%
V Visa Inc. Class A 2.34% 11,501 $3.6M Add +2.5%
INTU Intuit Inc. 2.27% 5,611 $3.5M Add +2.3%
SBUX Starbucks Corp. 1.95% 33,109 $3.0M Add +2.4%
GOOGL Alphabet Inc. Class A 1.89% 15,477 $2.9M Add +1.3%
XYZ Block Inc. 1.83% 33,392 $2.8M No change
ORCL Oracle Corp. 1.82% 16,933 $2.8M Reduce -0.3%
CMG Chipotle Mexican Grill Inc. 1.48% 38,194 $2.3M Add +1.5%
LRCX Lam Research Corp. 1.46% 31,422 $2.3M Add +3.3%
VCSH Vanguard S/T Corp. Bond ETF 1.43% 28,370 $2.2M Reduce -2.0%
AMZN Amazon.com Inc. 1.42% 10,044 $2.2M Add +208.7%
SCHW Schwab (charles) Corp. 1.35% 28,210 $2.1M Add +0.0%
BLK BlackRock Finance Inc. 1.33% 2,009 $2.1M No change
TXN Texas Instruments Inc. 1.32% 10,899 $2.0M Add +4.6%
TSCO Tractor Supply Company 1.28% 37,551 $2.0M Add +3.6%
IBB iShares Biotechnology ETF 1.23% 14,439 $1.9M Add +9.6%
EW Edwards Lifesciences Corp. 1.22% 25,546 $1.9M No change
TREX Trex Company Inc. 1.11% 24,854 $1.7M Reduce -0.3%
GDDY GoDaddy Inc. Class A 1.09% 8,602 $1.7M No change
IDXX Idexx Laboratories Inc. 1.09% 4,076 $1.7M No change
MORN Morningstar Inc. 0.97% 4,452 $1.5M No change
DVA Davita Inc. 0.83% 8,628 $1.3M No change
USPH U.S. Physical Therapy Inc. 0.75% 13,138 $1.2M No change
NDAQ Nasdaq Inc. 0.67% 13,532 $1.0M No change
LNTH Lantheus Holdings Inc. 0.67% 11,679 $1.0M No change
ADBE Adobe Inc. 0.61% 2,126 $946K No change
LULU Lululemon Athletica Inc. 0.61% 2,465 $943K No change
GOOG Alphabet Inc. Class C 0.61% 4,940 $941K Add +3.1%
SYK Stryker Corp. 0.60% 2,602 $937K No change
DKS Dick's Sporting Goods Inc. 0.60% 4,070 $931K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.60% 1,577 $924K Reduce -7.6%
CAT Caterpillar Inc. 0.54% 2,311 $838K Add +12.1%
PYPL PayPal Holdings Inc. 0.52% 9,416 $804K No change
CSCO Cisco Systems Inc. 0.50% 13,177 $780K Add +2.5%
IWV iShares Russell 3000 ETF 0.49% 2,260 $755K Reduce -4.6%
ICE Intercontinental Exchange Inc. 0.47% 4,927 $734K No change
NFLX Netflix Inc. 0.43% 750 $668K New
BRK.B Berkshire Hathaway Inc. Class B 0.42% 1,454 $659K Add +3.6%
QCOM Qualcomm Inc. 0.38% 3,871 $595K Add +6.9%
MSFT Microsoft Corp. 0.38% 1,400 $590K New
IJH iShares Core S&P Midcap ETF 0.32% 7,975 $497K No change
CRWD CrowdStrike Holdings Inc. Class A 0.31% 1,417 $485K No change
DGX Quest Diagnostics Inc. 0.31% 3,145 $474K No change
TOL Toll Brothers Inc. 0.29% 3,576 $450K Add +17.0%
LOW Lowe's Cos Inc. 0.29% 1,814 $448K No change
EXP Eagle Materials Inc. 0.25% 1,588 $392K No change
EBAY eBay Inc. 0.24% 6,014 $373K No change
INTC Intel Corp. 0.24% 18,304 $367K No change
TXRH Texas Roadhouse Inc. 0.23% 1,996 $360K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.23% 4,605 $354K No change
GNRC Generac Holdings Inc. 0.21% 2,113 $328K Reduce -4.5%
AMAT Applied Materials Inc. 0.21% 1,979 $322K Add +14.5%
CBOE Cboe Global Markets Inc. 0.21% 1,631 $319K No change
DHIL Diamond Hill Investment Grp 0.20% 1,981 $307K No change
ENPH Enphase Energy Inc. 0.18% 4,084 $280K Reduce -2.2%
WGO Winnebago Industries 0.18% 5,797 $277K No change
TPR Tapestry Inc. 0.14% 3,260 $213K New
DPZ Domino's Pizza Inc. 0.14% 499 $210K Reduce -2.0%
IPGP Ipg Photonics Corp. 0.13% 2,876 $209K Reduce -9.9%
IHI iShares U.S. Medical Devices 0.13% 3,545 $207K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.13% 3,960 $205K No change
AMD Advanced Micro Devices 0.13% 1,664 $201K No change

Portfolio Sells Q3 2024 → Q4 2024
VTI VG Morningstar TS MKT ETF-US Reduce -0.2% 3.88% −0.32
ORCL Oracle Corp. Reduce -0.3% 1.82% −0.24
VCSH Vanguard S/T Corp. Bond ETF Reduce -2.0% 1.43% −0.21
ZTS Zoetis Inc. Sold out 0.00% −0.17
ENPH Enphase Energy Inc. Reduce -2.2% 0.18% −0.16
SPY SS SPDR S&P 500 ETF Trust-US Reduce -7.6% 0.60% −0.10
TREX Trex Company Inc. Reduce -0.3% 1.11% −0.08
IWV iShares Russell 3000 ETF Reduce -4.6% 0.49% −0.06
GNRC Generac Holdings Inc. Reduce -4.5% 0.21% −0.04
IPGP Ipg Photonics Corp. Reduce -9.9% 0.13% −0.03
DPZ Domino's Pizza Inc. Reduce -2.0% 0.14% −0.02

Portfolio Buys Q3 2024 → Q4 2024
NVDA Nvidia Corp. Add +29.2% 6.29% +1.43
AMZN Amazon.com Inc. Add +208.7% 1.42% +0.99
AAPL Apple Inc. Add +5.3% 23.78% +0.56
NFLX Netflix Inc. New 0.43% +0.43
MSFT Microsoft Corp. New 0.38% +0.38
WSM Williams-Sonoma Inc. Add +4.1% 2.95% +0.33
V Visa Inc. Class A Add +2.5% 2.34% +0.14
TPR Tapestry Inc. New 0.14% +0.14
GOOGL Alphabet Inc. Class A Add +1.3% 1.89% +0.08
SCHW Schwab (charles) Corp. Add +0.0% 1.35% +0.04
GOOG Alphabet Inc. Class C Add +3.1% 0.61% +0.04
CSCO Cisco Systems Inc. Add +2.5% 0.50% +0.02
ISRG Intuitive Surgical Inc. Add +4.3% 6.80% +0.01
MA Mastercard Inc. Class A Add +3.6% 3.35% −0.00
COST Costco Wholesale Corp. Add +6.6% 2.79% −0.01
CAT Caterpillar Inc. Add +12.1% 0.54% −0.03
BRK.B Berkshire Hathaway Inc. Class B Add +3.6% 0.42% −0.04
AMAT Applied Materials Inc. Add +14.5% 0.21% −0.04
TOL Toll Brothers Inc. Add +17.0% 0.29% −0.05
QCOM Qualcomm Inc. Add +6.9% 0.38% −0.06
CMG Chipotle Mexican Grill Inc. Add +1.5% 1.48% −0.06
IBB iShares Biotechnology ETF Add +9.6% 1.23% −0.14
INTU Intuit Inc. Add +2.3% 2.27% −0.15
TXN Texas Instruments Inc. Add +4.6% 1.32% −0.22
TSCO Tractor Supply Company Add +3.6% 1.28% −0.22
QQQ Invesco QQQ Trust Series 1 Add +1.0% 4.91% −0.22
SBUX Starbucks Corp. Add +2.4% 1.95% −0.30
LRCX Lam Research Corp. Add +3.3% 1.46% −0.31

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 77$190.8MAAPL, NVDA, LRCX, QQQ, ISRG
Q1 2026 73$158.3MAAPL, NVDA, ISRG, QQQ, VTI
Q4 2025 72$170.5MAAPL, NVDA, ISRG, QQQ, VTI
Q3 2025 74$165.7MAAPL, NVDA, ISRG, QQQ, VTI
Q2 2025 70$153.7MAAPL, NVDA, ISRG, QQQ, VTI
Q1 2025 67$140.2MAAPL, ISRG, NVDA, QQQ, VTI
Q4 2024 69$155.2MAAPL, ISRG, NVDA, QQQ, VTI
Q3 2024 67$140.4MAAPL, ISRG, QQQ, NVDA, VTI
Q2 2024 66$133.3MAAPL, ISRG, QQQ, NVDA, VTI
Q1 2024 67$127.5MAAPL, ISRG, QQQ, NVDA, VTI