Mattern Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), Mattern Capital Management, LLC reported 163 stock positions worth $785.4 million. Its top holding was Apple (AAPL) at 2.2% of the portfolio, followed by Brown & Brown (BRO, 1.9%) and Microsoft (MSFT, 1.8%). Compared with Q4 2024, it opened 7 new positions, sold out of 4, added to 74 and reduced 64. The biggest buy was a new position in WR Berkley (WRB) and the biggest sale Broadcom (AVGO, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- LAKEWOOD, CO
- CIK
- 0001803227
- Portfolio Value
- $785.4M (Q1 2025)
- SEC Filing
- 0001725547-25-001447 ↗ filed Apr 23, 2025
Holdings Value
Holdings 163 stocks · $785.4M
| AAPL Apple Inc. | 2.20% | 77,684 | $17.3M | Reduce -5.8% |
| BRO Brown & Brown Inc. | 1.88% | 118,562 | $14.7M | Reduce -6.5% |
| MSFT Microsoft Corp. | 1.79% | 37,432 | $14.1M | Reduce -3.9% |
| COST Costco Wholesale Corp. | 1.70% | 14,083 | $13.3M | Reduce -7.0% |
| COR Cencora Inc. | 1.68% | 47,570 | $13.2M | Reduce -2.3% |
| WMT Walmart Inc. | 1.58% | 141,206 | $12.4M | Reduce -7.3% |
| LOW Lowe's Cos Inc. | 1.57% | 52,787 | $12.3M | Add +0.2% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 1.48% | 11,748 | $11.6M | Reduce -5.7% |
| AFL Aflac Inc. | 1.47% | 103,488 | $11.5M | Reduce -8.1% |
| PSX Phillips 66 | 1.45% | 92,186 | $11.4M | Reduce -2.3% |
| CB Chubb Ltd. | 1.40% | 36,382 | $11.0M | Reduce -5.5% |
| LIN Linde PLC | 1.39% | 23,503 | $10.9M | Reduce -1.5% |
| TSCO Tractor Supply Company | 1.35% | 193,040 | $10.6M | Reduce -0.5% |
| SPGI S&P Global Inc. | 1.35% | 20,908 | $10.6M | Reduce -1.5% |
| ADP Automatic Data Processing | 1.33% | 34,217 | $10.5M | Reduce -1.8% |
| AMGN Amgen Inc. | 1.31% | 33,041 | $10.3M | Add +1.1% |
| BR Broadridge Financial Solutio | 1.30% | 42,153 | $10.2M | Reduce -4.7% |
| UNH Unitedhealth Group Inc. | 1.28% | 19,184 | $10.0M | Add +2.5% |
| CSCO Cisco Systems Inc. | 1.28% | 162,451 | $10.0M | Reduce -1.9% |
| SBUX Starbucks Corp. | 1.27% | 101,570 | $10.0M | Reduce -4.0% |
| SHW The Sherwin-Williams Co. | 1.27% | 28,483 | $9.9M | Add +0.6% |
| NEE Nextera Energy Inc. | 1.26% | 140,069 | $9.9M | Reduce -0.2% |
| HD Home Depot Inc. | 1.24% | 26,556 | $9.7M | Add +0.6% |
| PAYX Paychex Inc. | 1.24% | 63,036 | $9.7M | Reduce -2.9% |
| GD General Dynamics Corp. | 1.23% | 35,407 | $9.7M | Add +1.2% |
| SYK Stryker Corp. | 1.22% | 25,704 | $9.6M | Reduce -3.5% |
| APD Air Products & Chemicals Inc. | 1.21% | 32,305 | $9.5M | Add +0.7% |
| ATO Atmos Energy Corp. | 1.21% | 61,491 | $9.5M | Reduce -5.4% |
| BLK BlackRock Inc. | 1.21% | 10,018 | $9.5M | Reduce -5.2% |
| ICE Intercontinental Exchange Inc. | 1.20% | 54,573 | $9.4M | Reduce -5.3% |
| XYL Xylem Inc. | 1.20% | 78,777 | $9.4M | Reduce -0.2% |
| ABT Abbott Laboratories | 1.19% | 70,441 | $9.3M | Reduce -1.0% |
| CTAS Cintas Corp. | 1.18% | 45,174 | $9.3M | Reduce -8.4% |
| ADI Analog Devices Inc. | 1.18% | 46,027 | $9.3M | Reduce -4.6% |
| MCD McDonald's Corp. | 1.18% | 29,548 | $9.2M | Reduce -1.9% |
| PG The Procter & Gamble Co. | 1.17% | 53,746 | $9.2M | Add +0.6% |
| ECL Ecolab Inc. | 1.17% | 36,121 | $9.2M | Reduce -2.3% |
| WEC WEC Energy Group Inc. | 1.17% | 83,978 | $9.2M | Reduce -5.0% |
| UNP Union Pacific Corp. | 1.16% | 38,581 | $9.1M | Add +0.3% |
| LMT Lockheed Martin Corp. | 1.16% | 20,331 | $9.1M | Add +4.0% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 1.15% | 49,589 | $9.1M | Reduce -0.1% |
| ACN Accenture PLC Class A | 1.15% | 28,932 | $9.0M | Add +0.9% |
| CL Colgate-Palmolive Co. | 1.14% | 95,305 | $8.9M | Add +0.5% |
| FDS Factset Research Systems Inc. | 1.14% | 19,642 | $8.9M | Add +0.9% |
| MDT Medtronic PLC | 1.13% | 98,834 | $8.9M | Reduce -3.3% |
| AWK American Water Works Co. Inc. | 1.12% | 59,692 | $8.8M | Reduce -3.6% |
| CMS CMS Energy Corp. | 1.12% | 116,996 | $8.8M | Reduce -3.3% |
| CBSH Commerce Bancshares Inc. | 1.12% | 141,167 | $8.8M | Reduce -1.6% |
| EMR Emerson Electric Co. | 1.11% | 79,288 | $8.7M | Add +0.9% |
| ZTS Zoetis Inc. | 1.10% | 52,370 | $8.6M | Add +1.0% |
| HON Honeywell International Inc. | 1.10% | 40,695 | $8.6M | Add +0.3% |
| ITW Illinois Tool Works | 1.09% | 34,557 | $8.6M | Add +0.8% |
| CHD Church & Dwight Co. Inc. | 1.09% | 77,680 | $8.6M | Reduce -1.2% |
| JNJ Johnson & Johnson | 1.08% | 50,971 | $8.5M | Reduce -0.2% |
| V Visa Inc. Class A | 1.07% | 24,020 | $8.4M | Reduce -7.9% |
| LHX L3HARRIS Technologies Inc. | 1.07% | 39,972 | $8.4M | Add +5.0% |
| NJR New Jersey Resources Corp. | 1.06% | 170,400 | $8.4M | Add +0.6% |
| MDLZ Mondelez International Inc. Class A | 1.06% | 122,922 | $8.3M | Reduce -0.5% |
| TXN Texas Instruments Inc. | 1.06% | 46,372 | $8.3M | Reduce -2.3% |
| PEP Pepsico Inc. | 1.06% | 55,449 | $8.3M | Add +4.1% |
| PLD Prologis Inc. | 1.05% | 73,506 | $8.2M | Reduce -1.9% |
| MKC McCormick & Co.-Non VTG SHRS | 1.01% | 96,466 | $7.9M | Reduce -2.9% |
| CMCSA Comcast Corp. Class A | 1.00% | 213,875 | $7.9M | Add +3.5% |
| O Realty Income Corp. | 0.99% | 133,723 | $7.8M | Add +1.4% |
| PPG PPG Industries Inc. | 0.99% | 70,877 | $7.8M | Add +2.9% |
| BDX Becton Dickinson and Co. | 0.98% | 33,619 | $7.7M | Add +3.9% |
| TGT Target Corp. | 0.98% | 73,585 | $7.7M | Add +4.6% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.94% | 80,409 | $7.4M | Add +8.3% |
| FRT Federal Realty Invs Trust | 0.90% | 72,368 | $7.1M | Add +2.4% |
| AVGO Broadcom Inc. | 0.90% | 42,242 | $7.1M | Reduce -9.7% |
| NKE Nike Inc. Class B | 0.88% | 109,254 | $6.9M | Add +2.9% |
| PH Parker Hannifin Corp. | 0.86% | 11,099 | $6.7M | Reduce -9.2% |
| BF.B Brown-Forman Corp. Class B | 0.78% | 180,280 | $6.1M | Add +14.1% |
| VOO Vanguard S&P 500 ETF | 0.69% | 10,477 | $5.4M | Add +0.1% |
| LLY Eli Lilly & Co. | 0.68% | 6,512 | $5.4M | Add +706.9% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.67% | 73,590 | $5.2M | New |
| AVIG Avantis Core Fixed Income | 0.63% | 120,240 | $5.0M | Add +10.3% |
| ROP Roper Technologies Inc. | 0.55% | 7,348 | $4.3M | New |
| MA Mastercard Inc. Class A | 0.53% | 7,543 | $4.1M | Add +493.5% |
| APH Amphenol Corp. Class A | 0.47% | 56,267 | $3.7M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.30% | 5,107 | $2.4M | No change |
| AMZN Amazon.com Inc. | 0.27% | 11,347 | $2.2M | Add +4.2% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.23% | 36,881 | $1.8M | Reduce -3.1% |
| DECK Deckers Outdoor Corp. | 0.23% | 15,803 | $1.8M | Add +1.9% |
| IWD iShares Russell 1000 Value E | 0.21% | 8,871 | $1.7M | No change |
| AVLV Avantis US Large Cap Value | 0.16% | 19,601 | $1.3M | Add +9.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.15% | 4,382 | $1.2M | Add +4.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.15% | 2,172 | $1.2M | Reduce -2.0% |
| AON Aon PLC Class A | 0.15% | 2,879 | $1.1M | Add +5.7% |
| TSLA Tesla Inc. | 0.14% | 4,314 | $1.1M | Add +0.8% |
| CVX Chevron Corp. | 0.14% | 6,660 | $1.1M | Add +9.3% |
| NFLX Netflix Inc. | 0.13% | 1,136 | $1.1M | Reduce -2.9% |
| COP Conocophillips | 0.13% | 9,833 | $1.0M | Add +21.1% |
| ADBE Adobe Inc. | 0.13% | 2,623 | $1.0M | Add +26.8% |
| VNLA Janus Henderson Short Durati | 0.13% | 20,114 | $989K | Add +13.2% |
| QUAL iShares MSCI USA Quality Fac | 0.12% | 5,583 | $954K | Reduce -0.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.12% | 1,936 | $939K | Add +3.4% |
| GOOG Alphabet Inc. Class C | 0.12% | 5,950 | $930K | Add +7.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.12% | 11,136 | $921K | Add +45.5% |
| DUHP Dimensional US High Profi Et | 0.12% | 27,751 | $920K | Add +12.4% |
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -9.7% | 0.90% | −0.51 |
| AAPL Apple Inc. | Reduce -5.8% | 2.20% | −0.49 |
| MSFT Microsoft Corp. | Reduce -3.9% | 1.79% | −0.35 |
| UPS United Parcel Service Class B | Reduce -68.1% | 0.09% | −0.25 |
| GWW WW Grainger Inc. | Reduce -5.7% | 1.48% | −0.23 |
| WMT Walmart Inc. | Reduce -7.3% | 1.58% | −0.22 |
| BLK BlackRock Inc. | Reduce -5.2% | 1.21% | −0.20 |
| PH Parker Hannifin Corp. | Reduce -9.2% | 0.86% | −0.15 |
| ADI Analog Devices Inc. | Reduce -4.6% | 1.18% | −0.15 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -48.4% | 0.11% | −0.12 |
| COST Costco Wholesale Corp. | Reduce -7.0% | 1.70% | −0.11 |
| TXN Texas Instruments Inc. | Reduce -2.3% | 1.06% | −0.10 |
| IWF iShares Russell 1000 Growth | Reduce -38.8% | 0.11% | −0.10 |
| AFL Aflac Inc. | Reduce -8.1% | 1.47% | −0.05 |
| NEE Nextera Energy Inc. | Reduce -0.2% | 1.26% | −0.05 |
| CBSH Commerce Bancshares Inc. | Reduce -1.6% | 1.12% | −0.05 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Sold out | 0.00% | −0.04 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.04 |
| IWO iShares Russell 2000 Growth | Sold out | 0.00% | −0.03 |
| SYK Stryker Corp. | Reduce -3.5% | 1.22% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Sold out | 0.00% | −0.03 |
| SPGI S&P Global Inc. | Reduce -1.5% | 1.35% | −0.02 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -3.1% | 0.23% | −0.02 |
| CMF iShares California Muni Bond | Reduce -9.5% | 0.08% | −0.01 |
| QUAL iShares MSCI USA Quality Fac | Reduce -0.8% | 0.12% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.6% | 0.06% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -8.8% | 0.03% | −0.01 |
| IVW iShares S&P 500 Growth ETF | Reduce -9.5% | 0.03% | −0.01 |
| ET Energy Transfer LP | Reduce -4.5% | 0.04% | −0.01 |
| EPD Enterprise Products Partners | Reduce -18.4% | 0.03% | −0.01 |
| META Meta Platforms Inc. Class A | Reduce -0.7% | 0.11% | −0.01 |
| INMU iShares Intermediate Muni Inc. | Reduce -4.6% | 0.05% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -5.0% | 0.04% | −0.00 |
| BR Broadridge Financial Solutio | Reduce -4.7% | 1.30% | −0.00 |
| V Visa Inc. Class A | Reduce -7.9% | 1.07% | −0.00 |
| DGRO iShares Core Dividend Growth | Reduce -1.5% | 0.04% | −0.00 |
| NFLX Netflix Inc. | Reduce -2.9% | 0.13% | −0.00 |
| VLUE iShares MSCI USA Value Facto | Reduce -0.6% | 0.04% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -1.9% | 1.28% | −0.00 |
| ADP Automatic Data Processing | Reduce -1.8% | 1.33% | +0.00 |
| PLTR Palantir Technologies Inc. Class A | Reduce -0.1% | 0.05% | +0.00 |
| XYL Xylem Inc. | Reduce -0.2% | 1.20% | +0.00 |
| RTX RTX Corp. | Reduce -0.1% | 0.05% | +0.01 |
| CTAS Cintas Corp. | Reduce -8.4% | 1.18% | +0.01 |
| SBUX Starbucks Corp. | Reduce -4.0% | 1.27% | +0.01 |
| TSCO Tractor Supply Company | Reduce -0.5% | 1.35% | +0.01 |
| CB Chubb Ltd. | Reduce -5.5% | 1.40% | +0.01 |
| PLD Prologis Inc. | Reduce -1.9% | 1.05% | +0.01 |
| CHD Church & Dwight Co. Inc. | Reduce -1.2% | 1.09% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.0% | 0.15% | +0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| WRB WR Berkley Corp. | New | 0.67% | +0.67 |
| LLY Eli Lilly & Co. | Add +706.9% | 0.68% | +0.60 |
| ROP Roper Technologies Inc. | New | 0.55% | +0.55 |
| APH Amphenol Corp. Class A | New | 0.47% | +0.47 |
| MA Mastercard Inc. Class A | Add +493.5% | 0.53% | +0.44 |
| AMGN Amgen Inc. | Add +1.1% | 1.31% | +0.20 |
| O Realty Income Corp. | Add +1.4% | 0.99% | +0.07 |
| IGSB iShares 1-5Y Inv Grade Corp. | New | 0.06% | +0.06 |
| AVIG Avantis Core Fixed Income | Add +10.3% | 0.63% | +0.06 |
| NVDA Nvidia Corp. | New | 0.05% | +0.05 |
| UNH Unitedhealth Group Inc. | Add +2.5% | 1.28% | +0.05 |
| SHV iShares 0-1 Year Treasury Bo | New | 0.04% | +0.04 |
| SHY iShares 1-3 Year Treasury Bo | Add +45.5% | 0.12% | +0.04 |
| NJR New Jersey Resources Corp. | Add +0.6% | 1.06% | +0.03 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +118.6% | 0.07% | +0.03 |
| GD General Dynamics Corp. | Add +1.2% | 1.23% | +0.03 |
| CVX Chevron Corp. | Add +9.3% | 0.14% | +0.03 |
| COP Conocophillips | Add +21.1% | 0.13% | +0.03 |
| KMI Kinder Morgan Inc. | New | 0.03% | +0.03 |
| BAX Baxter International Inc. | Add +14.1% | 0.11% | +0.03 |
| BDX Becton Dickinson and Co. | Add +3.9% | 0.98% | +0.02 |
| DG Dollar General Corp. | Add +11.4% | 0.11% | +0.02 |
| LHX L3HARRIS Technologies Inc. | Add +5.0% | 1.07% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +3.4% | 0.12% | +0.02 |
| AON Aon PLC Class A | Add +5.7% | 0.15% | +0.02 |
| RSG Republic Services Inc. | Add +5.9% | 0.09% | +0.02 |
| UNP Union Pacific Corp. | Add +0.3% | 1.16% | +0.02 |
| WM Waste Management Inc. | Add +11.1% | 0.09% | +0.02 |
| AZO AutoZone Inc. | Add +7.2% | 0.09% | +0.02 |
| CSGP Costar Group Inc. | Add +11.4% | 0.10% | +0.02 |
| MRSH Marsh & McLennan Cos | Add +9.2% | 0.09% | +0.02 |
| DLTR Dollar Tree Inc. | Add +17.8% | 0.12% | +0.02 |
| CL Colgate-Palmolive Co. | Add +0.5% | 1.14% | +0.01 |
| ORLY O'reilly Automotive Inc. | Add +6.6% | 0.06% | +0.01 |
| INTU Intuit Inc. | Add +21.6% | 0.09% | +0.01 |
| VNLA Janus Henderson Short Durati | Add +13.2% | 0.13% | +0.01 |
| SHW The Sherwin-Williams Co. | Add +0.6% | 1.27% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | Add +26.2% | 0.06% | +0.01 |
| DUHP Dimensional US High Profi Et | Add +12.4% | 0.12% | +0.01 |
| ADBE Adobe Inc. | Add +26.8% | 0.13% | +0.01 |
| DFIV Dimensional International Va | Add +13.6% | 0.04% | +0.01 |
| WSO Watsco Inc. | Add +5.0% | 0.08% | +0.01 |
| MCO Moody's Corp. | Add +15.7% | 0.07% | +0.01 |
| AVLV Avantis US Large Cap Value | Add +9.3% | 0.16% | +0.01 |
| DFAT Dimensional US Target Value | Add +16.4% | 0.09% | +0.00 |
| JPM JPMorgan Chase & Co. | Add +4.4% | 0.11% | +0.00 |
| PEP Pepsico Inc. | Add +4.1% | 1.06% | +0.00 |
| APD Air Products & Chemicals Inc. | Add +0.7% | 1.21% | +0.00 |
| IBTH iShares Ibonds Dec 2027 Term | Add +0.7% | 0.03% | −0.00 |
| AVUV Avantis US Small Cap Value | Add +12.8% | 0.06% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 166 | $856.7M | AAPL, GWW, MSFT, UNH, COST |
| Q1 2026 | 170 | $834.9M | AAPL, PSX, MSFT, COST, COR |
| Q4 2025 | 170 | $846.9M | AAPL, MSFT, WMT, COR, AVGO |
| Q3 2025 | 172 | $850.6M | AAPL, MSFT, WMT, COR, LOW |
| Q2 2025 | 170 | $832.4M | MSFT, AAPL, WMT, COR, COST |
| Q1 2025 | 163 | $785.4M | AAPL, BRO, MSFT, COST, COR |
| Q4 2024 | 160 | $767.4M | AAPL, MSFT, COST, WMT, GWW |
| Q3 2024 | 156 | $794.6M | AAPL, MSFT, LOW, COST, AFL |
| Q2 2024 | 157 | $723.8M | AAPL, MSFT, COST, PSX, LOW |
| Q1 2024 | 157 | $736.5M | MSFT, AAPL, PSX, LOW, GWW |