Mengis Capital Management, Inc.

Name: Mengis Capital Management, Inc. 13F holdings, Q2 2025
Creator: Mengis Capital Management, Inc.
Published: 2025-07-24

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 24, 2025), Mengis Capital Management, Inc. reported 195 stock positions worth $468.1 million. Its top holding was Microsoft (MSFT) at 6.3% of the portfolio, followed by Apple (AAPL, 6.1%) and JPMorgan Chase (JPM, 3.4%). Compared with Q1 2025, it opened 16 new positions, sold out of 7, added to 38 and reduced 104. The biggest buy was Nike Class B (NKE, shares +193%) and the biggest sale Apple (AAPL, shares −12%).

Most Recent 13F: Q2 2026
Location: PORTLAND, OR
CIK: 0001609674
Portfolio Value: $468.1M (Q2 2025)
SEC Filing: 0001609674-25-000004 ↗ filed Jul 24, 2025

Holdings Value

Holdings 195 stocks · $468.1M


MSFT Microsoft Corp.	6.30%	59,331	$29.5M	Reduce -11.1%
AAPL Apple Inc.	6.08%	138,651	$28.4M	Reduce -11.8%
JPM JPMorgan Chase & Co.	3.43%	55,465	$16.1M	Reduce -1.5%
CVX Chevron Corp.	2.81%	91,768	$13.1M	Reduce -11.0%
DE Deere & Co.	2.76%	25,415	$12.9M	Reduce -6.9%
GSIE Goldman Sachs Activebeta Int	2.45%	289,330	$11.5M	Add +1.1%
QCOM Qualcomm Inc.	2.42%	71,279	$11.4M	Reduce -0.2%
GOOG Alphabet Inc. Class C	2.40%	63,313	$11.2M	Reduce -2.7%
COST Costco Wholesale Corp.	2.34%	11,087	$11.0M	Reduce -13.2%
PWR Quanta Services Inc.	2.26%	27,970	$10.6M	Reduce -19.9%
PCAR Paccar Inc.	1.96%	96,301	$9.2M	Reduce -27.9%
AMZN Amazon.com Inc.	1.89%	40,308	$8.8M	Add +0.6%
MDT Medtronic PLC	1.71%	91,942	$8.0M	Reduce -0.0%
PM Philip Morris International	1.70%	43,612	$7.9M	Reduce -1.7%
NVS Novartis AG-Sponsored ADR	1.67%	64,483	$7.8M	Reduce -19.5%
ATI Ati Inc.	1.49%	80,727	$7.0M	Reduce -2.6%
LLY Eli Lilly & Co.	1.48%	8,894	$6.9M	Add +21.3%
XOM Exxon Mobil Corp.	1.27%	55,169	$5.9M	Reduce -21.5%
JNJ Johnson & Johnson	1.18%	36,274	$5.5M	Reduce -22.0%
MOAT Vaneck Morningstar Wide Moat	1.12%	55,818	$5.2M	Reduce -1.8%
AZN Astrazeneca PLC-Spons ADR	1.09%	72,860	$5.1M	Add +20.0%
EMR Emerson Electric Co.	1.06%	37,242	$5.0M	Add +0.1%
SCHX Schwab US Large-Cap ETF	1.03%	197,229	$4.8M	Reduce -2.1%
BRK.B Berkshire Hathaway Inc. Class B	1.01%	9,745	$4.7M	Add +0.6%
PEP Pepsico Inc.	1.01%	35,742	$4.7M	Reduce -11.1%
SCHM Schwab US Mid Cap ETF	0.99%	164,800	$4.6M	Reduce -2.0%
MRK Merck & Co. Inc.	0.95%	56,293	$4.5M	Reduce -17.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.93%	91,557	$4.3M	Reduce -5.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.92%	14,683	$4.3M	Reduce -14.6%
IAU iShares Gold Trust	0.91%	68,106	$4.2M	Reduce -1.7%
SPY SS SPDR S&P 500 ETF Trust-US	0.89%	6,774	$4.2M	Reduce -1.6%
NSRGY Nestle SA-Spons ADR	0.88%	41,665	$4.1M	Reduce -0.7%
BA The Boeing Co.	0.83%	18,445	$3.9M	Add +44.8%
SCHW Schwab (charles) Corp.	0.82%	42,255	$3.9M	Reduce -21.5%
GEHC GE Healthcare Technology	0.81%	50,947	$3.8M	Add +5.9%
HSY The Hershey Co.	0.79%	22,400	$3.7M	Reduce -27.7%
HUBB Hubbell Inc.	0.79%	9,000	$3.7M	Reduce -35.7%
KO The Coca-Cola Co.	0.73%	48,093	$3.4M	Reduce -2.2%
GSLC Goldman Activebeta US LC ETF	0.70%	27,046	$3.3M	Reduce -6.5%
KR Kroger Co.	0.63%	41,188	$3.0M	Reduce -13.2%
BINC iShares Flex I A ETF-Usd Inc.	0.63%	55,623	$2.9M	Add +8.7%
IVV iShares Core S&P 500 ETF	0.61%	4,624	$2.9M	Reduce -0.5%
MMM 3M Co.	0.61%	18,838	$2.9M	Reduce -2.8%
FLR Fluor Corp.	0.61%	55,762	$2.9M	Add +49.4%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.61%	84,084	$2.8M	Reduce -18.9%
PG The Procter & Gamble Co.	0.60%	17,703	$2.8M	Reduce -8.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.59%	22,384	$2.8M	Reduce -0.3%
BMY Bristol-Myers Squibb Co.	0.56%	56,783	$2.6M	Reduce -10.0%
SCHD Schwab US DVD Equity ETF	0.56%	98,770	$2.6M	Add +3.5%
NKE Nike Inc. Class B	0.54%	35,369	$2.5M	Add +193.1%
AXP American Express Co.	0.53%	7,790	$2.5M	Reduce -14.1%
RTX RTX Corp.	0.52%	16,719	$2.4M	Reduce -2.9%
UBER Uber Technologies Inc.	0.52%	26,145	$2.4M	Reduce -16.9%
KMB Kimberly-Clark Corp.	0.52%	18,730	$2.4M	Reduce -26.9%
BSV Vanguard Short-Term Bond ETF	0.50%	29,966	$2.4M	Add +4.8%
HD Home Depot Inc.	0.50%	6,367	$2.3M	Reduce -37.3%
BRKR Bruker Corp.	0.49%	56,085	$2.3M	Reduce -0.4%
FDX FedEx Corp.	0.49%	10,070	$2.3M	Reduce -2.1%
AVGO Broadcom Inc.	0.49%	8,259	$2.3M	Add +40.2%
DELL Dell Technologies -C	0.48%	18,310	$2.2M	Reduce -0.9%
PNC PNC Financial Services Group	0.43%	10,895	$2.0M	Reduce -0.1%
ASML ASML Holding NV-NY Reg SHS	0.43%	2,503	$2.0M	Reduce -3.9%
CTRA Coterra Energy Inc.	0.42%	77,416	$2.0M	Reduce -0.6%
CMI Cummins Inc.	0.42%	5,988	$2.0M	Add +12.2%
BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS	0.40%	56,721	$1.9M	Add +10.5%
NXPI NXP Semiconductors NV	0.38%	8,180	$1.8M	No change
VZ Verizon Communications Inc.	0.38%	40,724	$1.8M	Reduce -1.6%
MPC Marathon Petroleum Corp.	0.38%	10,575	$1.8M	Reduce -0.9%
CLX Clorox Company	0.37%	14,443	$1.7M	Add +119.5%
VEU Vanguard Ftse All-World Ex-U	0.37%	25,686	$1.7M	Reduce -0.2%
NVDA Nvidia Corp.	0.36%	10,805	$1.7M	Add +7.5%
ABBV Abbvie Inc.	0.36%	9,183	$1.7M	No change
AMGN Amgen Inc.	0.36%	6,052	$1.7M	No change
GOOGL Alphabet Inc. Class A	0.36%	9,510	$1.7M	Reduce -2.3%
ORCL Oracle Corp.	0.35%	7,548	$1.7M	Add +28.4%
FLS Flowserve Corp.	0.35%	31,505	$1.6M	No change
WAB Wabtec Corp.	0.35%	7,864	$1.6M	Reduce -0.0%
DD Dupont DE Nemours Inc.	0.34%	23,410	$1.6M	Reduce -0.5%
VLO Valero Energy Corp.	0.34%	11,854	$1.6M	Reduce -0.2%
META Meta Platforms Inc. Class A	0.33%	2,120	$1.6M	Add +0.3%
ADP Automatic Data Processing	0.33%	5,046	$1.6M	Reduce -50.4%
BIV Vanguard Intermediate-Term B	0.32%	19,622	$1.5M	Reduce -2.8%
ETN Eaton Corp. PLC	0.32%	4,238	$1.5M	Add +10.9%
WM Waste Management Inc.	0.32%	6,598	$1.5M	No change
FCX Freeport-McMoran Inc.	0.32%	34,153	$1.5M	Add +14.3%
UPS United Parcel Service Class B	0.31%	14,571	$1.5M	Reduce -12.3%
A Agilent Technologies Inc.	0.31%	12,414	$1.5M	Reduce -44.9%
NTR Nutrien Ltd.	0.30%	24,450	$1.4M	Reduce -4.3%
PFE Pfizer Inc.	0.30%	58,656	$1.4M	Reduce 0.0%
AMD Advanced Micro Devices	0.30%	9,965	$1.4M	No change
WWD Woodward Inc.	0.30%	5,663	$1.4M	Reduce -62.5%
LEN Lennar Corp. Class A	0.29%	12,422	$1.4M	Reduce -3.0%
CVS CVS Health Corp.	0.28%	19,105	$1.3M	Reduce -18.1%
MCD McDonald's Corp.	0.27%	4,384	$1.3M	Reduce -1.7%
HON Honeywell International Inc.	0.27%	5,461	$1.3M	Reduce -55.7%
TDY Teledyne Technologies Inc.	0.26%	2,397	$1.2M	No change
COLB Columbia Banking System Inc.	0.25%	50,511	$1.2M	Add +1.1%
VCIT Vanguard Int-Term Corporate	0.25%	14,123	$1.2M	Reduce -2.7%
KEYS Keysight Technologies Inc.	0.24%	6,717	$1.1M	Reduce -58.0%
SPXC SPX Technologies Inc.	0.21%	6,000	$1.0M	Reduce -62.5%
SCHB Schwab US Broad Market ETF	0.21%	42,211	$1.0M	Add +0.1%
SCHA Schwab US Small-Cap ETF	0.21%	38,555	$975K	Reduce -1.2%
GD General Dynamics Corp.	0.21%	3,323	$969K	No change
FSLR First Solar Inc.	0.20%	5,743	$951K	Add +44.0%
VTIP Vanguard Short-Term Tips	0.19%	18,059	$908K	Add +12.0%
SBUX Starbucks Corp.	0.19%	9,904	$908K	No change
ILMN Illumina Inc.	0.18%	9,020	$861K	Reduce -4.5%
MOTI Vaneck Mstar Int Moat ETF	0.18%	24,758	$858K	Add +2.4%
STX Seagate Technology Holdings	0.18%	5,760	$831K	Reduce -14.8%
APD Air Products & Chemicals Inc.	0.17%	2,788	$786K	No change
WAT Waters Corp.	0.17%	2,250	$785K	Reduce -62.5%
WMT Walmart Inc.	0.16%	7,836	$766K	Add +235.4%
WY Weyerhaeuser Co.	0.16%	29,800	$766K	Reduce -0.2%
DDOG Datadog Inc. Class A	0.16%	5,584	$750K	Reduce -0.1%
AIR Aar Corp.	0.15%	10,365	$713K	No change
UNP Union Pacific Corp.	0.15%	3,020	$695K	Add +2.4%
CL Colgate-Palmolive Co.	0.15%	7,600	$691K	Reduce -62.2%
UL Unilever PLC	0.14%	10,962	$671K	Reduce -18.3%
PFUPX PIMCO Intl BND Unhdg-I2	0.14%	83,356	$668K	New
TSM Taiwan Semiconductor-SP ADR	0.14%	2,855	$647K	New
DXJ Wisdomtree Japan Hedged Eq	0.13%	5,523	$631K	Add +1.1%
GBIL Goldman Sachs Access Treasur	0.13%	6,081	$609K	Add +0.5%
VGT Vanguard Info Tech ETF	0.13%	918	$609K	No change
ABT Abbott Laboratories	0.13%	4,305	$586K	Reduce -2.0%
IWM iShares Russell 2000 ETF	0.12%	2,701	$583K	No change
GBX Greenbrier Companies Inc.	0.12%	12,500	$576K	New
XSOE Wisdmtree Emerg MKT Ex-St Ow	0.12%	16,397	$565K	Add +1.8%
CBT Cabot Corp.	0.12%	7,500	$563K	Reduce -62.5%
CMCSA Comcast Corp. Class A	0.12%	15,726	$561K	Reduce -9.1%
KMPR Kemper Corp.	0.12%	8,688	$561K	Reduce -47.4%
GIS General Mills Inc.	0.12%	10,630	$551K	Reduce -3.4%
CAT Caterpillar Inc.	0.11%	1,385	$538K	Reduce -0.1%
FTI Technipfmc PLC	0.11%	15,600	$537K	New
VIG Vanguard Dividend Apprec ETF	0.11%	2,589	$530K	Reduce -0.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.11%	1,865	$522K	No change
FNDX Schwab Fndmntl US LRG Co. ETF	0.11%	21,241	$521K	Add +3.1%
IVW iShares S&P 500 Growth ETF	0.11%	4,658	$513K	Reduce -1.1%
ABNB Airbnb Inc. Class A	0.11%	3,840	$508K	Reduce -0.2%
CARR Carrier Global Corp.	0.11%	6,901	$505K	New
WFC Wells Fargo & Co.	0.11%	6,265	$502K	Reduce -4.6%
HFWA Heritage Financial Corp.	0.10%	20,310	$484K	Reduce 0.0%
BLK BlackRock Finance Inc.	0.10%	443	$465K	No change
AMAT Applied Materials Inc.	0.10%	2,490	$456K	No change
GLD SPDR Gold Shares	0.09%	1,455	$444K	Reduce -0.3%
CSCO Cisco Systems Inc.	0.09%	6,305	$437K	No change
FNPFX Amer FNDS New Perspect-F3 filed as AMERICAN FUNDS NEW PERSP ECTIV	0.09%	6,176	$432K	No change
NFLX Netflix Inc.	0.09%	321	$430K	Add +3.2%
SCHP Schwab U.S. Tips ETF	0.09%	16,010	$427K	Add +2.8%
USB US Bancorp	0.09%	9,032	$409K	Reduce -59.9%
PRU Prudential Financial Inc.	0.08%	3,680	$395K	No change
ITOT iShares Core S&P Total U.S.	0.08%	2,926	$395K	Reduce -8.7%
SPSM SS SPDR P S&P 600 Small Cap	0.08%	9,252	$394K	Reduce -6.8%
TMO Thermo Fisher Scientific Inc.	0.08%	970	$393K	New
FNDA Schwab Fndmntl US SM Co. ETF	0.08%	12,620	$362K	Reduce -6.0%
CTVA Corteva Inc.	0.08%	4,831	$360K	Reduce -1.0%
SCHV Schwab US Large-Cap Value	0.08%	12,878	$356K	Reduce -6.8%
MKC McCormick & Co.-Non VTG SHRS	0.08%	4,645	$352K	Add +17.7%
DVY iShares Select Dividend ETF	0.07%	2,500	$332K	No change
WMB Williams Cos Inc.	0.07%	5,231	$329K	Reduce -3.7%
ENB Enbridge Inc.	0.07%	7,109	$322K	No change
QQQ Invesco QQQ Trust Series 1	0.07%	565	$312K	No change
VTRS Viatris Inc.	0.07%	34,204	$305K	Reduce -1.2%
TSLA Tesla Inc.	0.06%	942	$299K	No change
CRM Salesforce Inc.	0.06%	1,090	$297K	No change
VTI VG Morningstar TS MKT ETF-US	0.06%	964	$293K	No change
LNG Cheniere Energy Inc.	0.06%	1,200	$292K	No change
SCHF Schwab Intl Equity ETF	0.06%	13,174	$291K	Add +0.4%
BKNG Booking Holdings Inc.	0.06%	49	$284K	No change
ISRG Intuitive Surgical Inc.	0.06%	521	$283K	No change
FXAIX Fidelity 500 Index Fund	0.06%	1,267	$274K	Add +5.9%
BHPLF BHP Group Ltd.	0.06%	10,921	$263K	New
OTIS Otis Worldwide Corp.	0.06%	2,650	$262K	New
ESGV Vanguard ESG US Stock ETF	0.06%	2,389	$262K	No change
ALC Alcon Inc. filed as ALCON AG	0.06%	2,952	$261K	No change
EQT Eqt Corp.	0.05%	4,334	$253K	No change
NEE Nextera Energy Inc.	0.05%	3,630	$252K	No change
ADI Analog Devices Inc.	0.05%	1,040	$248K	No change
IJH iShares Core S&P Midcap ETF	0.05%	3,959	$246K	Reduce -4.6%
TXN Texas Instruments Inc.	0.05%	1,123	$233K	Reduce -10.4%
DVN Devon Energy Corp.	0.05%	7,133	$227K	No change
KMI Kinder Morgan Inc.	0.05%	7,670	$226K	Reduce -0.0%
VRTX Vertex Pharmaceuticals Inc.	0.05%	500	$223K	New
GEM Goldman Sachs Activebeta Em	0.05%	5,935	$221K	New
VUG Vanguard Mrngstar GR ETF-Sui	0.05%	487	$214K	New
AMP Ameriprise Financial Inc.	0.05%	400	$213K	New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.05%	660	$211K	No change
ZS Zscaler Inc.	0.04%	671	$211K	New
K Kellanova	0.04%	2,615	$208K	Reduce -16.1%
CFIHX Amer FNDS Cap Inc. BLDR-F3 filed as AMERICAN FUNDS CAPITAL I NCOME	0.04%	2,722	$208K	New
AIVL Wisdomtree US AI Enhanced Va	0.04%	1,820	$206K	Reduce -7.6%
SMR Nuscale Power Corp.	0.04%	5,075	$201K	New
ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS	0.04%	22,300	$189K	No change
BCOIX Baird Core Plus Bond-Inst	0.02%	11,373	$116K	Reduce -0.0%
SHTLF SOUTH32 Ltd.	0.00%	10,921	$21K	New
NUGENE INTL INC	0.00%	1,500,000	$4K	No change

Other holdings (4): bonds, preferreds, convertibles and warrants · $2.5M (not counted above)

Security	Class	Shares / Principal	Value	Change
BANK OF AMERICA CORP (BAC F PERP +4)	COM	41,034	$888K	Reduce -0.5%
US BANCORP (USB F PERP B*)	COM	36,506	$733K	Reduce -0.3%
DUKE ENERGY CORP (DUK 5.75 PERP A)	Common Stock	21,050	$512K	No change
CHARLES SCHWAB CORP (SCHW 5.95 PERP D)	Common Stock	16,403	$405K	Add +2.5%

Total filed on the 13F, all lines: $470.7M.

Portfolio Sells Q1 2025 → Q2 2025


AAPL Apple Inc.	Reduce -11.8%	6.08%	−1.25
CVX Chevron Corp.	Reduce -11.0%	2.81%	−0.82
PCAR Paccar Inc.	Reduce -27.9%	1.96%	−0.77
XOM Exxon Mobil Corp.	Reduce -21.5%	1.27%	−0.48
JNJ Johnson & Johnson	Reduce -22.0%	1.18%	−0.44
MRK Merck & Co. Inc.	Reduce -17.1%	0.95%	−0.33
ADP Automatic Data Processing	Reduce -50.4%	0.33%	−0.32
HSY The Hershey Co.	Reduce -27.7%	0.79%	−0.32
SLB SLB Ltd.	Reduce -18.9%	0.61%	−0.30
WAT Waters Corp.	Reduce -62.5%	0.17%	−0.30
HD Home Depot Inc.	Reduce -37.3%	0.50%	−0.28
WWD Woodward Inc.	Reduce -62.5%	0.30%	−0.28
HON Honeywell International Inc.	Reduce -55.7%	0.27%	−0.28
KEYS Keysight Technologies Inc.	Reduce -58.0%	0.24%	−0.27
PEP Pepsico Inc.	Reduce -11.1%	1.01%	−0.26
KMB Kimberly-Clark Corp.	Reduce -26.9%	0.52%	−0.25
CL Colgate-Palmolive Co.	Reduce -62.2%	0.15%	−0.25
BMY Bristol-Myers Squibb Co.	Reduce -10.0%	0.56%	−0.25
A Agilent Technologies Inc.	Reduce -44.9%	0.31%	−0.24
CBT Cabot Corp.	Reduce -62.5%	0.12%	−0.23
SPXC SPX Technologies Inc.	Reduce -62.5%	0.21%	−0.22
NVS Novartis AG-Sponsored ADR	Reduce -19.5%	1.67%	−0.21
COST Costco Wholesale Corp.	Reduce -13.2%	2.34%	−0.19
HUBB Hubbell Inc.	Reduce -35.7%	0.79%	−0.19
USB US Bancorp	Reduce -59.9%	0.09%	−0.11
KMPR Kemper Corp.	Reduce -47.4%	0.12%	−0.11
PG The Procter & Gamble Co.	Reduce -8.7%	0.60%	−0.09
VALARIS PLC SHS CLASS A	Sold out	0.00%	−0.08
PFUIX PIMCO Intl BND Unhdg-Inst	Sold out	0.00%	−0.08
UPS United Parcel Service Class B	Reduce -12.3%	0.31%	−0.07
MAT Mattel Inc.	Sold out	0.00%	−0.07
SCHW Schwab (charles) Corp.	Reduce -21.5%	0.82%	−0.06
CTRA Coterra Energy Inc.	Reduce -0.6%	0.42%	−0.05
CVS CVS Health Corp.	Reduce -18.1%	0.28%	−0.05
BWA Borgwarner Inc.	Sold out	0.00%	−0.05
UNH Unitedhealth Group Inc.	Sold out	0.00%	−0.04
KR Kroger Co.	Reduce -13.2%	0.63%	−0.04
XLE SS Energy Select Sector	Sold out	0.00%	−0.04
FDX FedEx Corp.	Reduce -2.1%	0.49%	−0.04
KYN Kayne Anderson Energy Infra	Sold out	0.00%	−0.03
DD Dupont DE Nemours Inc.	Reduce -0.5%	0.34%	−0.03
UL Unilever PLC	Reduce -18.3%	0.14%	−0.02
MDT Medtronic PLC	Reduce -0.0%	1.71%	−0.02
GIS General Mills Inc.	Reduce -3.4%	0.12%	−0.02
WY Weyerhaeuser Co.	Reduce -0.2%	0.16%	−0.02
MCD McDonald's Corp.	Reduce -1.7%	0.27%	−0.02
VZ Verizon Communications Inc.	Reduce -1.6%	0.38%	−0.02
LEN Lennar Corp. Class A	Reduce -3.0%	0.29%	−0.02
CMCSA Comcast Corp. Class A	Reduce -9.1%	0.12%	−0.01
KO The Coca-Cola Co.	Reduce -2.2%	0.73%	−0.01

Portfolio Buys Q1 2025 → Q2 2025


NKE Nike Inc. Class B	Add +193.1%	0.54%	+0.38
BA The Boeing Co.	Add +44.8%	0.83%	+0.37
FLR Fluor Corp.	Add +49.4%	0.61%	+0.33
GSIE Goldman Sachs Activebeta Int	Add +1.1%	2.45%	+0.31
AMZN Amazon.com Inc.	Add +0.6%	1.89%	+0.29
AVGO Broadcom Inc.	Add +40.2%	0.49%	+0.28
LLY Eli Lilly & Co.	Add +21.3%	1.48%	+0.21
EMR Emerson Electric Co.	Add +0.1%	1.06%	+0.20
ORCL Oracle Corp.	Add +28.4%	0.35%	+0.18
CLX Clorox Company	Add +119.5%	0.37%	+0.17
AZN Astrazeneca PLC-Spons ADR	Add +20.0%	1.09%	+0.15
PFUPX PIMCO Intl BND Unhdg-I2	New	0.14%	+0.14
TSM Taiwan Semiconductor-SP ADR	New	0.14%	+0.14
NVDA Nvidia Corp.	Add +7.5%	0.36%	+0.14
GBX Greenbrier Companies Inc.	New	0.12%	+0.12
WMT Walmart Inc.	Add +235.4%	0.16%	+0.12
FTI Technipfmc PLC	New	0.11%	+0.11
CARR Carrier Global Corp.	New	0.11%	+0.11
ETN Eaton Corp. PLC	Add +10.9%	0.32%	+0.11
FSLR First Solar Inc.	Add +44.0%	0.20%	+0.10
TMO Thermo Fisher Scientific Inc.	New	0.08%	+0.08
FCX Freeport-McMoran Inc.	Add +14.3%	0.32%	+0.08
META Meta Platforms Inc. Class A	Add +0.3%	0.33%	+0.08
CMI Cummins Inc.	Add +12.2%	0.42%	+0.07
BINC iShares Flex I A ETF-Usd Inc.	Add +8.7%	0.63%	+0.07
BHPLF BHP Group Ltd.	New	0.06%	+0.06
OTIS Otis Worldwide Corp.	New	0.06%	+0.06
VRTX Vertex Pharmaceuticals Inc.	New	0.05%	+0.05
GEM Goldman Sachs Activebeta Em	New	0.05%	+0.05
AMP Ameriprise Financial Inc.	New	0.05%	+0.05
VUG Vanguard Mrngstar GR ETF-Sui	New	0.05%	+0.05
ZS Zscaler Inc.	New	0.04%	+0.04
CFIHX Amer FNDS Cap Inc. BLDR-F3	New	0.04%	+0.04
SMR Nuscale Power Corp.	New	0.04%	+0.04
BCD Abrdn Bloomberg All Commodit	Add +10.5%	0.40%	+0.03
BSV Vanguard Short-Term Bond ETF	Add +4.8%	0.50%	+0.03
NFLX Netflix Inc.	Add +3.2%	0.09%	+0.03
VTIP Vanguard Short-Term Tips	Add +12.0%	0.19%	+0.03
SCHB Schwab US Broad Market ETF	Add +0.1%	0.21%	+0.02
XSOE Wisdmtree Emerg MKT Ex-St Ow	Add +1.8%	0.12%	+0.02
MOTI Vaneck Mstar Int Moat ETF	Add +2.4%	0.18%	+0.01
FXAIX Fidelity 500 Index Fund	Add +5.9%	0.06%	+0.01
FNDX Schwab Fndmntl US LRG Co. ETF	Add +3.1%	0.11%	+0.01
DXJ Wisdomtree Japan Hedged Eq	Add +1.1%	0.13%	+0.01
SCHF Schwab Intl Equity ETF	Add +0.4%	0.06%	+0.01
MKC McCormick & Co.-Non VTG SHRS	Add +17.7%	0.08%	+0.01
SHTLF SOUTH32 Ltd.	New	0.00%	+0.00
SCHP Schwab U.S. Tips ETF	Add +2.8%	0.09%	+0.00
GBIL Goldman Sachs Access Treasur	Add +0.5%	0.13%	+0.00
UNP Union Pacific Corp.	Add +2.4%	0.15%	+0.00

Notes & Other Activity Q1 2025 → Q2 2025


BANK OF AMERICA CORP (BAC F PERP +4)	COM	Reduce -0.5%	41,034	$888K
US BANCORP (USB F PERP B*)	COM	Reduce -0.3%	36,506	$733K
CHARLES SCHWAB CORP (SCHW 5.95 PERP D)	Common Stock	Add +2.5%	16,403	$405K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	214	$655.6M	AAPL, MSFT, GOOG, PWR, JPM
Q1 2026	208	$578.9M	AAPL, MSFT, CVX, GOOG, JPM
Q4 2025	205	$563.6M	AAPL, MSFT, GOOG, JPM, CVX
Q3 2025	203	$506.1M	AAPL, MSFT, JPM, GOOG, CVX
Q2 2025	195	$468.1M	MSFT, AAPL, JPM, CVX, DE
Q1 2025	186	$476.3M	AAPL, MSFT, CVX, JPM, PCAR
Q4 2024	184	$486.9M	AAPL, MSFT, CVX, PCAR, JPM
Q3 2024	179	$505.6M	AAPL, MSFT, PCAR, CVX, COST
Q2 2024Amended	176	$490.9M	AAPL, MSFT, PCAR, CVX, QCOM
Q1 2024Amended	210	$644.9M	MSFT, PCAR, AAPL, COST, MRK