Meridian Investment Counsel Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Meridian Investment Counsel Inc. reported 206 stock positions worth $300.7 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 4.8% of the portfolio, followed by Microsoft (MSFT, 4.1%) and Adobe (ADBE, 3.7%). Compared with Q4 2023, it opened 6 new positions, sold out of 6, added to 30 and reduced 119. The biggest buy was a new position in Healthpeak Properties (DOC) and the biggest sale an exit from Si-Bone (SIBN).

Most Recent 13F
Q2 2026
Location
LAFAYETTE, CA
CIK
0001427351
Portfolio Value
$300.7M (Q1 2024)
SEC Filing
0001427351-24-000004 ↗ filed May 13, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $300.7M $300.7M Q1 2024 Q2 2024: $316.2M Q2 2024 Q3 2024: $330.9M Q3 2024 Q4 2024: $335.0M Q4 2024 Q1 2025: $339.7M Q1 2025 Q2 2025: $367.5M Q2 2025 Q3 2025: $404.9M Q3 2025 Q4 2025: $415.0M Q4 2025 Q1 2026: $419.9M Q1 2026 Q2 2026: $465.9M Q2 2026

Holdings 206 stocks · $300.7M
TSM Taiwan Semiconductor-SP ADR 4.82% 106,624 $14.5M Reduce -0.9%
MSFT Microsoft Corp. 4.13% 29,489 $12.4M Reduce -4.1%
ADBE Adobe Inc. 3.73% 22,214 $11.2M Add +0.1%
CVX Chevron Corp. 2.91% 55,457 $8.7M Reduce -12.7%
AAPL Apple Inc. 2.87% 50,303 $8.6M Reduce -2.2%
FDX FedEx Corp. 1.96% 20,338 $5.9M Reduce -1.9%
WGO Winnebago Industries 1.87% 76,170 $5.6M Reduce -0.9%
NSC Norfolk Southern Corp. 1.81% 21,393 $5.5M Reduce -0.8%
IAU iShares Gold Trust 1.77% 126,692 $5.3M Reduce -3.2%
ABBV Abbvie Inc. 1.74% 28,708 $5.2M Reduce -2.3%
QCOM Qualcomm Inc. 1.61% 28,615 $4.8M Reduce -1.0%
HD Home Depot Inc. 1.54% 12,113 $4.6M Reduce -0.3%
TRV The Travelers Cos Inc. 1.47% 19,221 $4.4M Reduce -0.9%
MET Metlife Inc. 1.36% 55,390 $4.1M Reduce -2.5%
SPY SS SPDR S&P 500 ETF Trust-US 1.30% 7,503 $3.9M Reduce -0.4%
CMCSA Comcast Corp. Class A 1.23% 85,285 $3.7M Reduce -1.4%
WMT Walmart Inc. 1.20% 59,949 $3.6M Reduce -2.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.19% 94,724 $3.6M Reduce -1.1%
IGM iShares Expanded Tech Sector 1.15% 39,980 $3.4M Reduce -2.5%
ORCL Oracle Corp. 1.12% 26,753 $3.4M Reduce -10.8%
INTC Intel Corp. 1.11% 75,497 $3.3M Reduce -0.4%
META Meta Platforms Inc. Class A 1.10% 6,842 $3.3M Reduce -2.4%
DD Dupont DE Nemours Inc. 1.04% 40,960 $3.1M Reduce -1.0%
TAP Molson Coors Beverage Co. Class B 1.04% 46,637 $3.1M Reduce -2.3%
NVO Novo-Nordisk A/S-Spons ADR 1.04% 24,418 $3.1M Reduce -2.0%
RSP Invesco S&P 500 Equal Weight 1.04% 18,429 $3.1M Add +1.7%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 1.03% 7,754 $3.1M Reduce -1.3%
MCK McKesson Corp. 0.97% 5,418 $2.9M Reduce -2.7%
JNJ Johnson & Johnson 0.96% 18,266 $2.9M Reduce -0.3%
OI O-I Glass Inc. 0.94% 170,283 $2.8M Reduce -1.0%
CBRE CBRE Group Inc. Class A 0.92% 28,559 $2.8M Reduce -0.9%
WY Weyerhaeuser Co. 0.92% 77,069 $2.8M Reduce -3.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.92% 42,012 $2.8M Add +7.9%
BP BP PLC-Spons ADR 0.88% 69,849 $2.6M Reduce -2.7%
XLB SS Materials Select Sector 0.85% 27,523 $2.6M Reduce -5.5%
MGM MGM Resorts International 0.82% 52,550 $2.5M Reduce -3.5%
BRK.B Berkshire Hathaway Inc. Class B 0.80% 5,746 $2.4M Reduce -4.0%
VZ Verizon Communications Inc. 0.76% 54,115 $2.3M Reduce -1.1%
ARCB Arcbest Corp. 0.75% 15,735 $2.2M No change
CB Chubb Ltd. 0.74% 8,603 $2.2M No change
XLV SS Health Care Select Sector 0.73% 14,905 $2.2M Reduce -1.4%
GPC Genuine Parts Co. 0.71% 13,875 $2.1M Reduce -1.1%
GE General Electric 0.69% 11,802 $2.1M Reduce -0.4%
DOC Healthpeak Properties Inc. 0.67% 107,184 $2.0M New
AMGN Amgen Inc. 0.67% 7,067 $2.0M Reduce -1.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.66% 10,438 $2.0M Reduce -0.7%
CWI State Street SPDR MSCI Acwi 0.66% 69,524 $2.0M Reduce -5.0%
NUE Nucor Corp. 0.65% 9,810 $1.9M Reduce -1.5%
LHX L3HARRIS Technologies Inc. 0.64% 9,084 $1.9M Reduce -2.0%
MDY State Street SPDR S&P Midcap 0.63% 3,422 $1.9M Add +1.2%
DOCU Docusign Inc. 0.61% 30,950 $1.8M Reduce -3.3%
C Citigroup Inc. 0.61% 28,877 $1.8M Add +0.1%
PFE Pfizer Inc. 0.60% 64,511 $1.8M Reduce -1.3%
GILD Gilead Sciences Inc. 0.58% 23,862 $1.7M Reduce -0.8%
KVUE Kenvue Inc. 0.57% 80,329 $1.7M Reduce -1.5%
BTI British American Tob-SP ADR 0.57% 56,387 $1.7M Reduce -0.9%
MTG Mgic Investment Corp. 0.56% 75,500 $1.7M Reduce -1.6%
WFC Wells Fargo & Co. 0.56% 28,892 $1.7M Reduce -2.5%
TGNA Tegna Inc. 0.55% 111,058 $1.7M Reduce -0.8%
PLTR Palantir Technologies Inc. Class A 0.53% 69,420 $1.6M Reduce -2.3%
NVDA Nvidia Corp. 0.52% 1,730 $1.6M Reduce -6.3%
VEA Vanguard Ftse Developed ETF 0.49% 29,360 $1.5M Add +0.3%
HON Honeywell International Inc. 0.48% 7,074 $1.5M Reduce -3.6%
KMI Kinder Morgan Inc. 0.48% 78,259 $1.4M Reduce -3.3%
KDP Keurig Dr Pepper Inc. 0.46% 45,520 $1.4M Reduce -6.1%
IJR iShares Core S&P Small-Cap E 0.46% 12,488 $1.4M No change
CVS CVS Health Corp. 0.45% 17,031 $1.4M Reduce -1.9%
XBI SS SPDR S&P Biotech ETF 0.45% 14,262 $1.4M Add +7.1%
XOM Exxon Mobil Corp. 0.44% 11,273 $1.3M Reduce -5.0%
CSCO Cisco Systems Inc. 0.43% 25,870 $1.3M No change
DGT SS SPDR Global Dow ETF 0.43% 10,030 $1.3M Reduce -0.0%
WH Wyndham Hotels & Resorts Inc. 0.39% 15,144 $1.2M No change
IXJ iShares Global Healthcare Et 0.37% 12,025 $1.1M Reduce -1.9%
FCX Freeport-McMoran Inc. 0.37% 23,815 $1.1M Reduce -3.8%
JPM JPMorgan Chase & Co. 0.36% 5,362 $1.1M Reduce -0.4%
MFIC Midcap Financial Investment 0.35% 70,520 $1.1M Reduce -3.5%
EWT iShares MSCI Taiwan ETF 0.35% 21,486 $1.0M Reduce -0.9%
ALLY Ally Financial Inc. 0.35% 25,625 $1.0M Reduce -1.9%
FLGB Franklin Ftse United Kingdom 0.35% 39,800 $1.0M Reduce -3.6%
PEP Pepsico Inc. 0.34% 5,869 $1.0M Reduce -2.2%
IJK iShares S&P Mid-Cap 400 Grow 0.32% 10,644 $971K No change
GOOG Alphabet Inc. Class C 0.32% 6,263 $954K Add +56.1%
T AT&T Inc. 0.32% 53,820 $947K Reduce -2.8%
NEE Nextera Energy Inc. 0.31% 14,820 $947K Add +0.2%
AXON Axon Enterprise Inc. 0.31% 3,000 $939K No change
VWO Vanguard Ftse Emerging Marke 0.30% 21,675 $905K No change
ADP Automatic Data Processing 0.30% 3,588 $896K No change
XLE SS Energy Select Sector 0.29% 9,099 $859K Add +1.1%
XOP SS SPDR S&P Og Exp & Prod 0.28% 5,370 $832K Reduce -1.8%
STZ Constellation Brands Inc. Class A 0.28% 3,060 $832K Reduce -3.2%
EWJ iShares MSCI Japan ETF 0.28% 11,592 $827K Add +0.1%
REGN Regeneron Pharmaceuticals 0.27% 854 $822K Reduce -3.9%
RTX RTX Corp. 0.27% 8,225 $802K Reduce -23.1%
PG The Procter & Gamble Co. 0.26% 4,900 $795K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.26% 6,648 $786K No change
LECO Lincoln Electric Holdings 0.26% 3,050 $779K No change
EFA iShares MSCI Eafe ETF 0.26% 9,752 $779K No change
EMR Emerson Electric Co. 0.26% 6,840 $776K Reduce -3.4%
B Barrick Gold Corp. 0.26% 46,500 $774K Reduce -3.5%
KMB Kimberly-Clark Corp. 0.25% 5,764 $746K No change

Show all 206 holdings

Portfolio Sells Q4 2023 → Q1 2024
SIBN Si-Bone Inc. Sold out 0.00% −2.14
PHYSICIANS REALTY TRUST Sold out 0.00% −0.71
AAPL Apple Inc. Reduce -2.2% 2.87% −0.53
CVX Chevron Corp. Reduce -12.7% 2.91% −0.34
TGH Textainer Group Holdings Ltd. Sold out 0.00% −0.23
INTC Intel Corp. Reduce -0.4% 1.11% −0.20
IWS iShares Russell Mid-Cap Valu Sold out 0.00% −0.11
BA The Boeing Co. Reduce -27.9% 0.10% −0.09
KDP Keurig Dr Pepper Inc. Reduce -6.1% 0.46% −0.09
GILD Gilead Sciences Inc. Reduce -0.8% 0.58% −0.09
WBA Walgreens Boots Alliance Inc. Reduce -17.1% 0.16% −0.08
DBX Dropbox Inc. Class A Sold out 0.00% −0.08
CAR Avis Budget Group Inc. Sold out 0.00% −0.07
CMCSA Comcast Corp. Class A Reduce -1.4% 1.23% −0.07
UNP Union Pacific Corp. Reduce -36.1% 0.12% −0.07
IGSB iShares 1-5Y Inv Grade Corp. Reduce -33.3% 0.10% −0.05
X United States Steel Corp. Reduce -2.7% 0.20% −0.05
PFE Pfizer Inc. Reduce -1.3% 0.60% −0.05
WGO Winnebago Industries Reduce -0.9% 1.87% −0.05
DD Dupont DE Nemours Inc. Reduce -1.0% 1.04% −0.05
HON Honeywell International Inc. Reduce -3.6% 0.48% −0.05
B Barrick Gold Corp. Reduce -3.5% 0.26% −0.04
RTX RTX Corp. Reduce -23.1% 0.27% −0.04
IWF iShares Russell 1000 Growth Reduce -41.0% 0.07% −0.04
DOCU Docusign Inc. Reduce -3.3% 0.61% −0.04
AMGN Amgen Inc. Reduce -1.2% 0.67% −0.04
TGNA Tegna Inc. Reduce -0.8% 0.55% −0.04
WY Weyerhaeuser Co. Reduce -3.7% 0.92% −0.03
KVUE Kenvue Inc. Reduce -1.5% 0.57% −0.03
VVR Invesco Senior Income Trust Reduce -23.4% 0.10% −0.03
OI O-I Glass Inc. Reduce -1.0% 0.94% −0.03
LHX L3HARRIS Technologies Inc. Reduce -2.0% 0.64% −0.03
SPGI S&P Global Inc. Reduce -16.0% 0.10% −0.03
XBFZX BlackRock Ca Muni Inc. TR Reduce -7.9% 0.18% −0.03
JNJ Johnson & Johnson Reduce -0.3% 0.96% −0.02
CWI State Street SPDR MSCI Acwi Reduce -5.0% 0.66% −0.02
JPC Nuveen Prefered & Income Opp Reduce -31.4% 0.05% −0.02
MMM 3M Co. Reduce -7.1% 0.14% −0.02
CVS CVS Health Corp. Reduce -1.9% 0.45% −0.02
SBUX Starbucks Corp. Reduce -3.3% 0.15% −0.02
MDLZ Mondelez International Inc. Class A Reduce -2.4% 0.19% −0.02
EWG iShares MSCI Germany ETF Reduce -9.9% 0.24% −0.02
ARCC Ares Capital Corp. Reduce -9.2% 0.17% −0.02
BCSF Bain Capital Specialty Finan Reduce -7.7% 0.20% −0.02
KMI Kinder Morgan Inc. Reduce -3.3% 0.48% −0.01
FLGB Franklin Ftse United Kingdom Reduce -3.6% 0.35% −0.01
MS Morgan Stanley Reduce -2.4% 0.22% −0.01
MGM MGM Resorts International Reduce -3.5% 0.82% −0.01
XLF SS Financial Select Sector Reduce -16.1% 0.10% −0.01
VOD Vodafone Group PLC-SP ADR Reduce -5.9% 0.13% −0.01

Portfolio Buys Q4 2023 → Q1 2024
DOC Healthpeak Properties Inc. New 0.67% +0.67
AEP American Electric Power New 0.16% +0.16
GOOG Alphabet Inc. Class C Add +56.1% 0.32% +0.12
C Citigroup Inc. Add +0.1% 0.61% +0.10
FNDX Schwab Fndmntl US LRG Co. ETF New 0.09% +0.09
SCHX Schwab US Large-Cap ETF New 0.08% +0.08
XLU St Sr Utl SL SE SPDR ETF-Usd Add +7.9% 0.92% +0.07
STX Seagate Technology Holdings New 0.07% +0.07
PSCD Invesco S&P Smallcap Consume New 0.07% +0.07
TM Toyota Motor Corp. -Spon ADR Add +7.1% 0.22% +0.07
IWM iShares Russell 2000 ETF Add +55.8% 0.16% +0.06
RSP Invesco S&P 500 Equal Weight Add +1.7% 1.04% +0.06
VB Vanguard Most SM-Cap ETF-Usd Add +35.4% 0.19% +0.05
MDY State Street SPDR S&P Midcap Add +1.2% 0.63% +0.04
XBI SS SPDR S&P Biotech ETF Add +7.1% 0.45% +0.04
CRM Salesforce Inc. Add +8.1% 0.23% +0.04
OXY Occidental Petroleum Corp. Add +30.1% 0.14% +0.04
AMZN Amazon.com Inc. Add +3.8% 0.18% +0.03
XLE SS Energy Select Sector Add +1.1% 0.29% +0.03
GEHC GE Healthcare Technology Add +3.8% 0.17% +0.03
EWJ iShares MSCI Japan ETF Add +0.1% 0.28% +0.02
XES SS SPDR S&P Og Eqp & Serv Add +7.4% 0.11% +0.01
IJH iShares Core S&P Midcap ETF Add +0.8% 0.19% +0.01
GOOGL Alphabet Inc. Class A Add +3.9% 0.15% +0.01
COP Conocophillips Add +0.5% 0.16% +0.01
VOX Vanguard Communication Servi Add +0.2% 0.13% +0.01
AIG American International Group Add +0.8% 0.08% +0.01
VEA Vanguard Ftse Developed ETF Add +0.3% 0.49% +0.01
NEE Nextera Energy Inc. Add +0.2% 0.31% +0.01
KO The Coca-Cola Co. Add +1.4% 0.22% +0.00
SLB SLB Ltd. Add +0.2% 0.18% +0.00
BMY Bristol-Myers Squibb Co. Add +0.6% 0.10% +0.00
DUK Duke Energy Corp. Add +4.8% 0.11% +0.00
GF The New Germany Fund Inc. Add +0.7% 0.05% −0.00
WBD Warner Bros Discovery Inc. Add +0.0% 0.14% −0.05
ADBE Adobe Inc. Add +0.1% 3.73% −0.82

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 250$465.9MTSM, AAPL, MSFT, MU, IAU
Q1 2026 237$419.9MTSM, AAPL, IAU, MSFT, CVX
Q4 2025 239$415.0MTSM, AAPL, MSFT, IAU, PLTR
Q3 2025 232$404.9MTSM, AAPL, MSFT, IAU, PLTR
Q2 2025 224$367.5MTSM, AAPL, MSFT, CVX, IAU
Q1 2025 211$339.7MAAPL, TSM, MSFT, CVX, IAU
Q4 2024 213$335.0MAAPL, TSM, MSFT, ADBE, CVX
Q3 2024 212$330.9MTSM, AAPL, MSFT, ADBE, CVX
Q2 2024 213$316.2MTSM, AAPL, MSFT, ADBE, CVX
Q1 2024 206$300.7MTSM, MSFT, ADBE, CVX, AAPL