Martin Capital Advisors, LLP

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 15, 2025), Martin Capital Advisors, LLP reported 74 stock positions worth $165.7 million. Its top holding was Apple (AAPL) at 22.1% of the portfolio, followed by Nvidia (NVDA, 8.0%) and Intuitive Surgical (ISRG, 5.4%). Compared with Q2 2025, it opened 4 new positions, added to 30 and reduced 13. The biggest buy was Oracle (ORCL, shares +1%) and the biggest sale Davita (DVA, shares −1%).

Most Recent 13F
Q2 2026
Location
SAN ANTONIO, TX
CIK
0001904126
Portfolio Value
$165.7M (Q3 2025)
SEC Filing
0001398344-25-019173 ↗ filed Oct 15, 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 Q4 2024 Q1 2025: $140.2M Q1 2025 Q2 2025: $153.7M Q2 2025 Q3 2025: $165.7M $165.7M Q3 2025 Q4 2025: $170.5M Q4 2025 Q1 2026: $158.3M Q1 2026 Q2 2026: $190.8M Q2 2026

Holdings 74 stocks · $165.7M
AAPL Apple Inc. 22.15% 144,090 $36.7M Reduce -0.8%
NVDA Nvidia Corp. 7.96% 70,664 $13.2M Reduce -2.5%
ISRG Intuitive Surgical Inc. 5.40% 19,998 $8.9M Add +0.1%
QQQ Invesco QQQ Trust Series 1 4.90% 13,523 $8.1M Reduce -2.0%
VTI VG Morningstar TS MKT ETF-US 3.76% 18,997 $6.2M Reduce -2.0%
MA Mastercard Inc. Class A 3.37% 9,823 $5.6M Add +0.1%
WSM Williams-Sonoma Inc. 2.84% 24,060 $4.7M Add +0.0%
ORCL Oracle Corp. 2.84% 16,713 $4.7M Add +0.5%
COST Costco Wholesale Corp. 2.53% 4,530 $4.2M Add +0.1%
V Visa Inc. Class A 2.39% 11,603 $4.0M Add +0.2%
LRCX Lam Research Corp. 2.37% 29,302 $3.9M Reduce -8.5%
INTU Intuit Inc. 2.35% 5,702 $3.9M Add +0.2%
GOOGL Alphabet Inc. Class A 2.24% 15,279 $3.7M Reduce -0.0%
SBUX Starbucks Corp. 1.68% 32,959 $2.8M Add +0.1%
SCHW Schwab (charles) Corp. 1.62% 28,038 $2.7M Add +0.1%
IDXX Idexx Laboratories Inc. 1.59% 4,114 $2.6M Add +0.0%
BLK BlackRock Inc. 1.46% 2,075 $2.4M Add +0.1%
XYZ Block Inc. 1.40% 31,992 $2.3M No change
AMZN Amazon.com Inc. 1.38% 10,383 $2.3M Add +0.3%
VCSH Vanguard S/T Corp. Bond ETF 1.37% 28,370 $2.3M No change
TSCO Tractor Supply Company 1.28% 37,369 $2.1M Add +0.1%
TXN Texas Instruments Inc. 1.24% 11,198 $2.1M Add +1.1%
IBB iShares Biotechnology ETF 1.23% 14,064 $2.0M Reduce -0.5%
EW Edwards Lifesciences Corp. 1.21% 25,716 $2.0M Add +0.4%
CMG Chipotle Mexican Grill Inc. 0.92% 39,062 $1.5M Add +0.4%
GDDY GoDaddy Inc. Class A 0.74% 8,952 $1.2M Add +0.6%
NDAQ Nasdaq Inc. 0.73% 13,580 $1.2M Add +0.3%
TREX Trex Company Inc. 0.72% 23,014 $1.2M No change
DVA Davita Inc. 0.71% 8,864 $1.2M Reduce -0.7%
GOOG Alphabet Inc. Class C 0.71% 4,820 $1.2M No change
USPH U.S. Physical Therapy Inc. 0.66% 12,909 $1.1M Add +0.4%
SYK Stryker Corp. 0.65% 2,926 $1.1M Add +4.2%
CAT Caterpillar Inc. 0.61% 2,111 $1.0M No change
MORN Morningstar Inc. 0.59% 4,202 $975K No change
NFLX Netflix Inc. 0.57% 783 $939K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.56% 1,397 $931K No change
DKS Dick's Sporting Goods Inc. 0.55% 4,070 $904K No change
CRWD CrowdStrike Holdings Inc. Class A 0.54% 1,832 $898K Add +25.8%
CSCO Cisco Systems Inc. 0.54% 13,037 $892K No change
BRK.B Berkshire Hathaway Inc. Class B 0.54% 1,767 $888K Reduce -1.1%
ICE Intercontinental Exchange Inc. 0.51% 5,012 $844K Add +1.7%
IWV iShares Russell 3000 ETF 0.47% 2,040 $773K Reduce -9.7%
MSFT Microsoft Corp. 0.44% 1,400 $725K No change
ADBE Adobe Inc. 0.43% 2,034 $718K No change
LNTH Lantheus Holdings Inc. 0.40% 12,978 $666K Add +3.2%
PYPL PayPal Holdings Inc. 0.37% 9,136 $613K Reduce -0.3%
DGX Quest Diagnostics Inc. 0.36% 3,145 $599K No change
INTC Intel Corp. 0.34% 16,804 $564K No change
QCOM Qualcomm Inc. 0.34% 3,371 $561K No change
PLTR Palantir Technologies Inc. Class A 0.33% 3,028 $552K Add +1.3%
TOL Toll Brothers Inc. 0.33% 3,971 $549K Add +11.1%
EBAY eBay Inc. 0.32% 5,914 $538K Reduce -1.7%
IJH iShares Core S&P Midcap ETF 0.31% 7,975 $520K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.30% 4,605 $502K No change
AMAT Applied Materials Inc. 0.30% 2,418 $495K Add +1.6%
CBOE Cboe Global Markets Inc. 0.30% 2,016 $494K Add +1.5%
LOW Lowe's Cos Inc. 0.28% 1,814 $456K No change
LULU Lululemon Athletica Inc. 0.25% 2,365 $421K No change
AVGO Broadcom Inc. 0.25% 1,236 $408K Add +25.4%
EXP Eagle Materials Inc. 0.22% 1,588 $370K No change
TPR Tapestry Inc. 0.22% 3,210 $363K No change
NOW ServiceNow Inc. 0.21% 370 $341K Add +52.9%
TXRH Texas Roadhouse Inc. 0.19% 1,936 $322K No change
PANW Palo Alto Networks Inc. 0.18% 1,479 $301K New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.18% 2,011 $291K New
GNRC Generac Holdings Inc. 0.17% 1,718 $288K No change
AMD Advanced Micro Devices 0.16% 1,664 $269K No change
DHIL Diamond Hill Investment Grp 0.16% 1,891 $265K No change
ZTS Zoetis Inc. 0.14% 1,629 $238K Add +3.0%
GLW Corning Inc. 0.14% 2,780 $228K New
DPZ Domino's Pizza Inc. 0.13% 499 $216K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.13% 3,960 $210K No change
IPGP Ipg Photonics Corp. 0.12% 2,601 $206K New
IHI iShares U.S. Medical Devices 0.12% 3,353 $201K Reduce -5.4%

Portfolio Sells Q2 2025 → Q3 2025
DVA Davita Inc. Reduce -0.7% 0.71% −0.12
PYPL PayPal Holdings Inc. Reduce -0.3% 0.37% −0.07
VTI VG Morningstar TS MKT ETF-US Reduce -2.0% 3.76% −0.07
QQQ Invesco QQQ Trust Series 1 Reduce -2.0% 4.90% −0.05
IWV iShares Russell 3000 ETF Reduce -9.7% 0.47% −0.05
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.1% 0.54% −0.03
IHI iShares U.S. Medical Devices Reduce -5.4% 0.12% −0.02
EBAY eBay Inc. Reduce -1.7% 0.32% +0.03
IBB iShares Biotechnology ETF Reduce -0.5% 1.23% +0.06
LRCX Lam Research Corp. Reduce -8.5% 2.37% +0.34
GOOGL Alphabet Inc. Class A Reduce -0.0% 2.24% +0.49
NVDA Nvidia Corp. Reduce -2.5% 7.96% +0.51
AAPL Apple Inc. Reduce -0.8% 22.15% +2.76

Portfolio Buys Q2 2025 → Q3 2025
ORCL Oracle Corp. Add +0.5% 2.84% +0.47
WSM Williams-Sonoma Inc. Add +0.0% 2.84% +0.28
PANW Palo Alto Networks Inc. New 0.18% +0.18
TJX TJX Companies Inc. New 0.18% +0.18
IDXX Idexx Laboratories Inc. Add +0.0% 1.59% +0.15
GLW Corning Inc. New 0.14% +0.14
IPGP Ipg Photonics Corp. New 0.12% +0.12
AVGO Broadcom Inc. Add +25.4% 0.25% +0.07
PLTR Palantir Technologies Inc. Class A Add +1.3% 0.33% +0.07
TOL Toll Brothers Inc. Add +11.1% 0.33% +0.07
CRWD CrowdStrike Holdings Inc. Class A Add +25.8% 0.54% +0.06
BLK BlackRock Inc. Add +0.1% 1.46% +0.05
NOW ServiceNow Inc. Add +52.9% 0.21% +0.04
AMAT Applied Materials Inc. Add +1.6% 0.30% +0.02
USPH U.S. Physical Therapy Inc. Add +0.4% 0.66% +0.01
TSCO Tractor Supply Company Add +0.1% 1.28% +0.00
CBOE Cboe Global Markets Inc. Add +1.5% 0.30% −0.00
ZTS Zoetis Inc. Add +3.0% 0.14% −0.02
SCHW Schwab (charles) Corp. Add +0.1% 1.62% −0.05
NDAQ Nasdaq Inc. Add +0.3% 0.73% −0.06
SYK Stryker Corp. Add +4.2% 0.65% −0.07
ICE Intercontinental Exchange Inc. Add +1.7% 0.51% −0.08
EW Edwards Lifesciences Corp. Add +0.4% 1.21% −0.10
AMZN Amazon.com Inc. Add +0.3% 1.38% −0.10
MA Mastercard Inc. Class A Add +0.1% 3.37% −0.21
TXN Texas Instruments Inc. Add +1.1% 1.24% −0.25
LNTH Lantheus Holdings Inc. Add +3.2% 0.40% −0.27
SBUX Starbucks Corp. Add +0.1% 1.68% −0.28
V Visa Inc. Class A Add +0.2% 2.39% −0.28
GDDY GoDaddy Inc. Class A Add +0.6% 0.74% −0.30
COST Costco Wholesale Corp. Add +0.1% 2.53% −0.38
CMG Chipotle Mexican Grill Inc. Add +0.4% 0.92% −0.50
INTU Intuit Inc. Add +0.2% 2.35% −0.57
ISRG Intuitive Surgical Inc. Add +0.1% 5.40% −1.67

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