Mattern Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), Mattern Capital Management, LLC reported 170 stock positions worth $846.9 million. Its top holding was Apple (AAPL) at 2.5% of the portfolio, followed by Microsoft (MSFT, 2.0%) and Walmart (WMT, 1.9%). Compared with Q3 2025, it opened 3 new positions, sold out of 6, added to 96 and reduced 44. The biggest buy was Factset Research Systems (FDS, shares +49%) and the biggest sale Starbucks (SBUX, shares −93%).
- Most Recent 13F
- Q2 2026
- Location
- LAKEWOOD, CO
- CIK
- 0001803227
- Portfolio Value
- $846.9M (Q4 2025)
- SEC Filing
- 0001725547-26-000059 ↗ filed Jan 29, 2026
Holdings Value
Holdings 170 stocks · $846.9M
| AAPL Apple Inc. | 2.46% | 76,733 | $20.9M | Reduce -2.9% |
| MSFT Microsoft Corp. | 2.03% | 35,625 | $17.2M | Reduce -4.3% |
| WMT Walmart Inc. | 1.88% | 143,189 | $16.0M | Add +1.4% |
| COR Cencora Inc. | 1.70% | 42,561 | $14.4M | Reduce -3.4% |
| AVGO Broadcom Inc. | 1.54% | 37,776 | $13.1M | Reduce -3.9% |
| LOW Lowe's Cos Inc. | 1.52% | 53,340 | $12.9M | Add +1.1% |
| ADI Analog Devices Inc. | 1.52% | 47,419 | $12.9M | Reduce -8.0% |
| COST Costco Wholesale Corp. | 1.49% | 14,586 | $12.6M | Add +5.1% |
| GWW WW Grainger Inc. | 1.46% | 12,234 | $12.3M | Add +4.8% |
| AFL Aflac Inc. | 1.42% | 108,905 | $12.0M | Add +4.5% |
| PSX Phillips 66 | 1.38% | 90,449 | $11.7M | Reduce -2.8% |
| CSCO Cisco Systems Inc. | 1.37% | 151,113 | $11.6M | Add +0.3% |
| CB Chubb Ltd. | 1.34% | 36,374 | $11.4M | Add +1.0% |
| AMGN Amgen Inc. | 1.34% | 34,576 | $11.3M | Reduce -9.7% |
| GD General Dynamics Corp. | 1.32% | 33,273 | $11.2M | Reduce -4.8% |
| BLK BlackRock Inc. | 1.32% | 10,408 | $11.1M | Add +3.0% |
| NEE Nextera Energy Inc. | 1.30% | 137,085 | $11.0M | Reduce -14.3% |
| SPGI S&P Global Inc. | 1.30% | 20,992 | $11.0M | Add +0.4% |
| BRO Brown & Brown Inc. | 1.29% | 137,386 | $10.9M | Add +3.8% |
| LHX L3HARRIS Technologies Inc. | 1.27% | 36,621 | $10.8M | Reduce -7.3% |
| LLY Eli Lilly & Co. | 1.24% | 9,744 | $10.5M | Reduce -10.7% |
| LIN Linde PLC | 1.22% | 24,291 | $10.4M | Add +4.0% |
| PH Parker Hannifin Corp. | 1.22% | 11,749 | $10.3M | Reduce -0.6% |
| EMR Emerson Electric Co. | 1.22% | 77,538 | $10.3M | Add +4.4% |
| JNJ Johnson & Johnson | 1.21% | 49,491 | $10.2M | Reduce -4.2% |
| XYL Xylem Inc. | 1.18% | 73,268 | $10.0M | Reduce -6.4% |
| BR Broadridge Financial Solutio | 1.17% | 44,310 | $9.9M | Add +5.9% |
| ATO Atmos Energy Corp. | 1.16% | 58,526 | $9.8M | Reduce -2.6% |
| TSCO Tractor Supply Company | 1.15% | 194,311 | $9.7M | Add +1.0% |
| ACN Accenture PLC Class A | 1.14% | 35,958 | $9.6M | Reduce -0.3% |
| ICE Intercontinental Exchange Inc. | 1.14% | 59,459 | $9.6M | Add +13.8% |
| MDT Medtronic PLC | 1.13% | 100,037 | $9.6M | Add +0.7% |
| CTAS Cintas Corp. | 1.13% | 50,999 | $9.6M | Add +13.0% |
| TXN Texas Instruments Inc. | 1.13% | 54,972 | $9.5M | Add +15.4% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 1.12% | 52,000 | $9.5M | Add +3.1% |
| SHW The Sherwin-Williams Co. | 1.11% | 29,066 | $9.4M | Add +1.3% |
| ECL Ecolab Inc. | 1.11% | 35,776 | $9.4M | Reduce -0.1% |
| ADP Automatic Data Processing | 1.11% | 36,488 | $9.4M | Add +7.1% |
| HD Home Depot Inc. | 1.10% | 27,191 | $9.4M | Add +1.6% |
| PLD Prologis Inc. | 1.10% | 73,149 | $9.3M | Reduce -2.3% |
| SYK Stryker Corp. | 1.10% | 26,439 | $9.3M | Add +3.4% |
| MCD McDonald's Corp. | 1.08% | 29,818 | $9.1M | Add +0.1% |
| V Visa Inc. Class A | 1.06% | 25,608 | $9.0M | Add +5.5% |
| WEC WEC Energy Group Inc. | 1.06% | 85,136 | $9.0M | Add +1.4% |
| ABT Abbott Laboratories | 1.05% | 71,169 | $8.9M | Add +3.6% |
| FDS Factset Research Systems Inc. | 1.04% | 30,391 | $8.8M | Add +48.8% |
| ITW Illinois Tool Works | 1.04% | 35,630 | $8.8M | Add +2.0% |
| TGT Target Corp. | 1.02% | 88,426 | $8.6M | Add +10.7% |
| UNH Unitedhealth Group Inc. | 1.02% | 26,131 | $8.6M | Add +16.9% |
| APD Air Products & Chemicals Inc. | 1.01% | 34,706 | $8.6M | Add +4.3% |
| APH Amphenol Corp. Class A | 1.01% | 63,290 | $8.6M | Reduce -21.8% |
| CBSH Commerce Bancshares Inc. | 1.00% | 161,306 | $8.4M | Add +14.4% |
| CMS CMS Energy Corp. | 1.00% | 120,708 | $8.4M | Add +1.8% |
| NKE Nike Inc. Class B | 0.99% | 131,593 | $8.4M | Add +13.3% |
| PEP Pepsico Inc. | 0.99% | 58,405 | $8.4M | Add +1.6% |
| ZTS Zoetis Inc. | 0.99% | 66,603 | $8.4M | Add +23.0% |
| AWK American Water Works Co. Inc. | 0.99% | 64,064 | $8.4M | Add +6.5% |
| NJR New Jersey Resources Corp. | 0.99% | 181,218 | $8.4M | Add +5.2% |
| CEG Constellation Energy | 0.99% | 23,631 | $8.3M | Add +3.6% |
| CL Colgate-Palmolive Co. | 0.99% | 105,600 | $8.3M | Add +7.5% |
| INTU Intuit Inc. | 0.98% | 12,556 | $8.3M | Add +22.4% |
| PG The Procter & Gamble Co. | 0.98% | 57,800 | $8.3M | Add +6.3% |
| PPG PPG Industries Inc. | 0.98% | 80,617 | $8.3M | Add +10.3% |
| PAYX Paychex Inc. | 0.97% | 73,588 | $8.3M | Add +16.5% |
| ROP Roper Technologies Inc. | 0.97% | 18,516 | $8.2M | Add +36.6% |
| FRT Federal Realty Invs Trust | 0.97% | 81,244 | $8.2M | Add +9.1% |
| MA Mastercard Inc. Class A | 0.96% | 14,269 | $8.1M | Add +14.1% |
| MKC McCormick & Co.-Non VTG SHRS | 0.95% | 117,729 | $8.0M | Add +18.9% |
| BDX Becton Dickinson and Co. | 0.93% | 40,711 | $7.9M | Add +12.9% |
| O Realty Income Corp. | 0.93% | 139,378 | $7.9M | Add +3.4% |
| CHD Church & Dwight Co. Inc. | 0.90% | 91,169 | $7.6M | Add +13.8% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.88% | 106,859 | $7.5M | Add +5.2% |
| MDLZ Mondelez International Inc. Class A | 0.88% | 138,076 | $7.4M | Add +10.5% |
| BF.B Brown-Forman Corp. Class B | 0.82% | 265,715 | $6.9M | Add +37.1% |
| VOO Vanguard S&P 500 ETF | 0.78% | 10,470 | $6.6M | No change |
| AVIG Avantis Core Fixed Income | 0.72% | 145,870 | $6.1M | Add +2.7% |
| JBND JPMorgan Active Bond ETF | 0.69% | 107,823 | $5.8M | Add +2.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.43% | 5,911 | $3.6M | Reduce -17.1% |
| AMZN Amazon.com Inc. | 0.39% | 14,321 | $3.3M | Reduce -1.5% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.36% | 6,297 | $3.0M | No change |
| SHY iShares 1-3 Year Treasury Bo | 0.28% | 28,982 | $2.4M | Add +7.6% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.26% | 43,816 | $2.2M | Add +8.2% |
| TSLA Tesla Inc. | 0.26% | 4,865 | $2.2M | Reduce -8.5% |
| GOOG Alphabet Inc. Class C | 0.25% | 6,742 | $2.1M | Reduce -41.5% |
| IWD iShares Russell 1000 Value E | 0.25% | 10,013 | $2.1M | No change |
| VNLA Janus Henderson Short Durati | 0.24% | 41,283 | $2.0M | Add +7.0% |
| DECK Deckers Outdoor Corp. | 0.21% | 17,072 | $1.8M | Add +3.1% |
| DG Dollar General Corp. | 0.21% | 13,206 | $1.8M | Add +5.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.20% | 3,689 | $1.7M | Add +11.4% |
| DLTR Dollar Tree Inc. | 0.20% | 13,549 | $1.7M | Reduce -9.8% |
| AVLV Avantis US Large Cap Value | 0.20% | 21,891 | $1.7M | Add +5.1% |
| ADBE Adobe Inc. | 0.20% | 4,730 | $1.7M | Add +28.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.19% | 5,387 | $1.6M | Reduce -17.8% |
| JPM JPMorgan Chase & Co. | 0.19% | 4,977 | $1.6M | Add +3.3% |
| CVX Chevron Corp. | 0.19% | 10,431 | $1.6M | Add +5.1% |
| COP Conocophillips | 0.18% | 16,717 | $1.6M | Add +7.8% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.18% | 28,945 | $1.5M | Add +9.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.18% | 2,231 | $1.5M | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.18% | 29,800 | $1.5M | Add +50.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.17% | 4,382 | $1.5M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| SBUX Starbucks Corp. | Reduce -93.5% | 0.07% | −0.98 |
| HON Honeywell International Inc. | Reduce -93.1% | 0.07% | −0.97 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.87 |
| MSFT Microsoft Corp. | Reduce -4.3% | 2.03% | −0.23 |
| XYL Xylem Inc. | Reduce -6.4% | 1.18% | −0.18 |
| APH Amphenol Corp. Class A | Reduce -21.8% | 1.01% | −0.17 |
| LHX L3HARRIS Technologies Inc. | Reduce -7.3% | 1.27% | −0.15 |
| NEE Nextera Energy Inc. | Reduce -14.3% | 1.30% | −0.12 |
| AAP Advance Auto Parts Inc. | Sold out | 0.00% | −0.12 |
| PSX Phillips 66 | Reduce -2.8% | 1.38% | −0.11 |
| GOOG Alphabet Inc. Class C | Reduce -41.5% | 0.25% | −0.08 |
| GD General Dynamics Corp. | Reduce -4.8% | 1.32% | −0.08 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -17.1% | 0.43% | −0.07 |
| IBDQ iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.05 |
| ATO Atmos Energy Corp. | Reduce -2.6% | 1.16% | −0.05 |
| ECL Ecolab Inc. | Reduce -0.1% | 1.11% | −0.04 |
| IBTF iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.03 |
| SOLS Solstice Adv Materials Inc. | Reduce -49.5% | 0.03% | −0.03 |
| NVDA Nvidia Corp. | Reduce -13.1% | 0.16% | −0.02 |
| KMI Kinder Morgan Inc. | Sold out | 0.00% | −0.02 |
| TROW T Rowe Price Group Inc. | Sold out | 0.00% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -17.8% | 0.19% | −0.02 |
| TSLA Tesla Inc. | Reduce -8.5% | 0.26% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -9.7% | 0.06% | −0.01 |
| IWF iShares Russell 1000 Growth | Reduce -5.0% | 0.17% | −0.01 |
| PLTR Palantir Technologies Inc. Class A | Reduce -3.7% | 0.10% | −0.01 |
| ITOT iShares Core S&P Total U.S. | Reduce -7.3% | 0.04% | −0.00 |
| DGRO iShares Core Dividend Growth | Reduce -6.4% | 0.03% | −0.00 |
| SUB iShares Short-Term National | Reduce -3.6% | 0.03% | −0.00 |
| IVW iShares S&P 500 Growth ETF | Reduce -3.7% | 0.03% | −0.00 |
| INMU iShares Intermediate Muni Inc. | Reduce -1.2% | 0.05% | −0.00 |
| QUAL iShares MSCI USA Quality Fac | Reduce -2.7% | 0.11% | −0.00 |
| QCOM Qualcomm Inc. | Reduce -0.5% | 0.10% | +0.00 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -8.1% | 0.14% | +0.00 |
| VLUE iShares MSCI USA Value Facto | Reduce -0.3% | 0.04% | +0.00 |
| RTX RTX Corp. | Reduce -2.1% | 0.07% | +0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -11.0% | 0.05% | +0.01 |
| ULTA Ulta Beauty Inc. | Reduce -5.6% | 0.17% | +0.01 |
| AMZN Amazon.com Inc. | Reduce -1.5% | 0.39% | +0.01 |
| AVGO Broadcom Inc. | Reduce -3.9% | 1.54% | +0.02 |
| ADI Analog Devices Inc. | Reduce -8.0% | 1.52% | +0.03 |
| DLTR Dollar Tree Inc. | Reduce -9.8% | 0.20% | +0.03 |
| AMGN Amgen Inc. | Reduce -9.7% | 1.34% | +0.07 |
| COR Cencora Inc. | Reduce -3.4% | 1.70% | +0.08 |
| JNJ Johnson & Johnson | Reduce -4.2% | 1.21% | +0.08 |
| ACN Accenture PLC Class A | Reduce -0.3% | 1.14% | +0.09 |
| PLD Prologis Inc. | Reduce -2.3% | 1.10% | +0.10 |
| AAPL Apple Inc. | Reduce -2.9% | 2.46% | +0.10 |
| PH Parker Hannifin Corp. | Reduce -0.6% | 1.22% | +0.17 |
| LLY Eli Lilly & Co. | Reduce -10.7% | 1.24% | +0.26 |
Portfolio Buys Q3 2025 → Q4 2025
| FDS Factset Research Systems Inc. | Add +48.8% | 1.04% | +0.35 |
| JKHY Jack Henry & Associates Inc. | Add +3.1% | 1.12% | +0.24 |
| BF.B Brown-Forman Corp. Class B | Add +37.1% | 0.82% | +0.20 |
| ROP Roper Technologies Inc. | Add +36.6% | 0.97% | +0.18 |
| TGT Target Corp. | Add +10.7% | 1.02% | +0.18 |
| WMT Walmart Inc. | Add +1.4% | 1.88% | +0.17 |
| MKC McCormick & Co.-Non VTG SHRS | Add +18.9% | 0.95% | +0.17 |
| CSCO Cisco Systems Inc. | Add +0.3% | 1.37% | +0.16 |
| INTU Intuit Inc. | Add +22.4% | 0.98% | +0.16 |
| GWW WW Grainger Inc. | Add +4.8% | 1.46% | +0.15 |
| CB Chubb Ltd. | Add +1.0% | 1.34% | +0.15 |
| BDX Becton Dickinson and Co. | Add +12.9% | 0.93% | +0.14 |
| MA Mastercard Inc. Class A | Add +14.1% | 0.96% | +0.13 |
| TYL Tyler Technologies Inc. | New | 0.11% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +16.9% | 1.02% | +0.11 |
| CEG Constellation Energy | Add +3.6% | 0.99% | +0.10 |
| ICE Intercontinental Exchange Inc. | Add +13.8% | 1.14% | +0.10 |
| SPGI S&P Global Inc. | Add +0.4% | 1.30% | +0.10 |
| TXN Texas Instruments Inc. | Add +15.4% | 1.13% | +0.10 |
| V Visa Inc. Class A | Add +5.5% | 1.06% | +0.09 |
| WDAY Workday Inc. Class A | New | 0.08% | +0.08 |
| FRT Federal Realty Invs Trust | Add +9.1% | 0.97% | +0.08 |
| CHD Church & Dwight Co. Inc. | Add +13.8% | 0.90% | +0.08 |
| PPG PPG Industries Inc. | Add +10.3% | 0.98% | +0.07 |
| EMR Emerson Electric Co. | Add +4.4% | 1.22% | +0.07 |
| CL Colgate-Palmolive Co. | Add +7.5% | 0.99% | +0.06 |
| ZTS Zoetis Inc. | Add +23.0% | 0.99% | +0.06 |
| DG Dollar General Corp. | Add +5.2% | 0.21% | +0.05 |
| CRM Salesforce Inc. | Add +33.4% | 0.16% | +0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +50.6% | 0.18% | +0.05 |
| AFL Aflac Inc. | Add +4.5% | 1.42% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Add +11.4% | 0.20% | +0.04 |
| CTAS Cintas Corp. | Add +13.0% | 1.13% | +0.04 |
| ADBE Adobe Inc. | Add +28.8% | 0.20% | +0.04 |
| PEP Pepsico Inc. | Add +1.6% | 0.99% | +0.04 |
| NKE Nike Inc. Class B | Add +13.3% | 0.99% | +0.04 |
| PAYX Paychex Inc. | Add +16.5% | 0.97% | +0.03 |
| BAX Baxter International Inc. | Add +43.7% | 0.16% | +0.03 |
| WSO Watsco Inc. | Add +49.9% | 0.13% | +0.03 |
| TD Toronto-Dominion Bank | New | 0.03% | +0.03 |
| MDT Medtronic PLC | Add +0.7% | 1.13% | +0.02 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +8.2% | 0.26% | +0.02 |
| SHY iShares 1-3 Year Treasury Bo | Add +7.6% | 0.28% | +0.02 |
| AVIG Avantis Core Fixed Income | Add +2.7% | 0.72% | +0.02 |
| AVLV Avantis US Large Cap Value | Add +5.1% | 0.20% | +0.02 |
| JBND JPMorgan Active Bond ETF | Add +2.4% | 0.69% | +0.02 |
| MCO Moody's Corp. | Add +11.3% | 0.10% | +0.02 |
| VNLA Janus Henderson Short Durati | Add +7.0% | 0.24% | +0.02 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +9.1% | 0.18% | +0.02 |
| AXP American Express Co. | Add +0.1% | 0.13% | +0.01 |
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 |