Meridian Investment Counsel Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), Meridian Investment Counsel Inc. reported 211 stock positions worth $339.7 million. Its top holding was Apple (AAPL) at 5.0% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 4.7%) and Microsoft (MSFT, 3.0%). Compared with Q4 2024, it opened 6 new positions, sold out of 8, added to 42 and reduced 75. The biggest buy was a new position in Berkshire Hathaway Class A (BRK.A) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- LAFAYETTE, CA
- CIK
- 0001427351
- Portfolio Value
- $339.7M (Q1 2025)
- SEC Filing
- 0001427351-25-000005 ↗ filed Apr 29, 2025
Holdings Value
Holdings 211 stocks · $339.7M
| AAPL Apple Inc. | 5.01% | 76,540 | $17.0M | Reduce -0.2% |
| TSM Taiwan Semiconductor-SP ADR | 4.66% | 95,349 | $15.8M | Reduce -0.3% |
| MSFT Microsoft Corp. | 2.99% | 27,024 | $10.1M | Reduce -0.2% |
| CVX Chevron Corp. | 2.72% | 55,325 | $9.3M | Add +0.0% |
| IAU iShares Gold Trust | 2.19% | 125,976 | $7.4M | No change |
| ADBE Adobe Inc. | 1.95% | 17,302 | $6.6M | Reduce -21.0% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.75% | 75,444 | $5.9M | Add +2.5% |
| ABBV Abbvie Inc. | 1.64% | 26,569 | $5.6M | Reduce -1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.64% | 10,449 | $5.6M | Add +14.1% |
| NSC Norfolk Southern Corp. | 1.47% | 21,043 | $5.0M | Reduce -0.1% |
| RSP Invesco S&P 500 Equal Weight | 1.41% | 27,550 | $4.8M | Add +13.9% |
| TRV The Travelers Cos Inc. | 1.40% | 17,978 | $4.8M | Reduce -1.1% |
| WMT Walmart Inc. | 1.39% | 53,798 | $4.7M | Reduce -0.3% |
| MDY State Street SPDR S&P Midcap | 1.37% | 8,723 | $4.7M | Add +4.5% |
| PLTR Palantir Technologies Inc. Class A | 1.37% | 55,135 | $4.7M | Reduce -4.3% |
| FDX FedEx Corp. | 1.32% | 18,453 | $4.5M | Reduce -3.1% |
| HD Home Depot Inc. | 1.29% | 11,991 | $4.4M | Reduce -0.8% |
| MET Metlife Inc. | 1.22% | 51,710 | $4.2M | No change |
| QCOM Qualcomm Inc. | 1.20% | 26,520 | $4.1M | Reduce -0.2% |
| JNJ Johnson & Johnson | 1.16% | 23,793 | $3.9M | Add +1.4% |
| META Meta Platforms Inc. Class A | 1.08% | 6,347 | $3.7M | Reduce -0.8% |
| ORCL Oracle Corp. | 1.06% | 25,818 | $3.6M | Reduce -0.4% |
| CBRE CBRE Group Inc. Class A | 1.04% | 26,934 | $3.5M | Reduce -0.5% |
| IWM iShares Russell 2000 ETF | 1.03% | 17,509 | $3.5M | Add +26.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.02% | 82,829 | $3.5M | Reduce -1.3% |
| IGM iShares Expanded Tech Sector | 0.98% | 36,795 | $3.3M | Reduce -1.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.96% | 7,784 | $3.3M | Reduce -1.0% |
| XLI SS Industrial Select Sector | 0.95% | 24,706 | $3.2M | Add +192.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.95% | 46,247 | $3.2M | Add +1.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.94% | 4 | $3.2M | New |
| CMCSA Comcast Corp. Class A | 0.92% | 84,373 | $3.1M | Reduce -0.3% |
| DD Dupont DE Nemours Inc. | 0.91% | 41,167 | $3.1M | Add +1.7% |
| CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT | 0.90% | 125,535 | $3.1M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.90% | 5,477 | $3.1M | Reduce -14.3% |
| KMI Kinder Morgan Inc. | 0.83% | 99,362 | $2.8M | Add +0.0% |
| XLV SS Health Care Select Sector | 0.80% | 18,505 | $2.7M | Reduce -0.7% |
| MCK McKesson Corp. | 0.77% | 3,898 | $2.6M | No change |
| TAP Molson Coors Beverage Co. Class B | 0.74% | 41,104 | $2.5M | Reduce -1.7% |
| DOC Healthpeak Properties Inc. | 0.73% | 122,109 | $2.5M | Add +8.2% |
| BTI British American Tob-SP ADR | 0.73% | 59,537 | $2.5M | Add +1.4% |
| MDT Medtronic PLC | 0.72% | 27,386 | $2.5M | Add +9.8% |
| WGO Winnebago Industries | 0.71% | 70,335 | $2.4M | Reduce -0.4% |
| GILD Gilead Sciences Inc. | 0.70% | 21,167 | $2.4M | Reduce -0.9% |
| DOCU Docusign Inc. | 0.69% | 28,924 | $2.4M | Reduce -0.9% |
| XLB SS Materials Select Sector | 0.68% | 26,985 | $2.3M | Add +0.6% |
| WY Weyerhaeuser Co. | 0.66% | 76,891 | $2.3M | Add +4.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.64% | 8,758 | $2.2M | No change |
| JPM JPMorgan Chase & Co. | 0.63% | 8,787 | $2.2M | No change |
| CWI State Street SPDR MSCI Acwi | 0.63% | 72,039 | $2.1M | Add +1.6% |
| CB Chubb Ltd. | 0.63% | 7,034 | $2.1M | No change |
| AMGN Amgen Inc. | 0.62% | 6,767 | $2.1M | No change |
| NVDA Nvidia Corp. | 0.61% | 18,983 | $2.1M | Add +0.9% |
| GE General Electric filed as GE AEROSPACE | 0.60% | 10,233 | $2.0M | Reduce -1.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.60% | 4,323 | $2.0M | Reduce -6.3% |
| LHX L3HARRIS Technologies Inc. | 0.58% | 9,400 | $2.0M | Add +2.6% |
| AEP American Electric Power | 0.58% | 17,890 | $2.0M | Add +0.8% |
| SCHF Schwab Intl Equity ETF | 0.57% | 97,994 | $1.9M | New |
| C Citigroup Inc. | 0.57% | 27,252 | $1.9M | Reduce -3.7% |
| VZ Verizon Communications Inc. | 0.57% | 42,473 | $1.9M | Reduce -4.0% |
| FLGB Franklin Ftse United Kingdom | 0.56% | 66,225 | $1.9M | Add +33.5% |
| BP BP PLC-Spons ADR | 0.53% | 53,322 | $1.8M | No change |
| HON Honeywell International Inc. | 0.53% | 8,494 | $1.8M | No change |
| PFE Pfizer Inc. | 0.52% | 69,874 | $1.8M | Add +7.2% |
| WFC Wells Fargo & Co. | 0.51% | 24,295 | $1.7M | No change |
| JAAA Janus Henderson Aaa Clo ETF | 0.51% | 34,390 | $1.7M | Add +111.6% |
| KDP Keurig Dr Pepper Inc. | 0.51% | 50,335 | $1.7M | Reduce -4.2% |
| TGNA Tegna Inc. | 0.51% | 94,333 | $1.7M | Reduce -12.5% |
| GPC Genuine Parts Co. | 0.51% | 14,416 | $1.7M | No change |
| VOO Vanguard S&P 500 ETF | 0.50% | 3,325 | $1.7M | Add +5.7% |
| KVUE Kenvue Inc. | 0.48% | 68,617 | $1.6M | Reduce -4.2% |
| VGT Vanguard Info Tech ETF | 0.47% | 2,933 | $1.6M | No change |
| CSCO Cisco Systems Inc. | 0.46% | 25,500 | $1.6M | Reduce -0.8% |
| DGT SS SPDR Global Dow ETF | 0.44% | 10,718 | $1.5M | Reduce -0.1% |
| AXON Axon Enterprise Inc. | 0.43% | 2,800 | $1.5M | No change |
| XLE SS Energy Select Sector | 0.41% | 14,910 | $1.4M | No change |
| XOM Exxon Mobil Corp. | 0.40% | 11,509 | $1.4M | Reduce -0.9% |
| MGM MGM Resorts International | 0.39% | 45,200 | $1.3M | No change |
| B Barrick Gold Corp. | 0.39% | 68,866 | $1.3M | Add +5.5% |
| MTG Mgic Investment Corp. | 0.39% | 54,000 | $1.3M | No change |
| IJR iShares Core S&P Small-Cap E | 0.38% | 12,268 | $1.3M | Reduce -1.8% |
| WH Wyndham Hotels & Resorts Inc. | 0.38% | 14,169 | $1.3M | Reduce -1.7% |
| XES SS SPDR S&P Og Eqp & Serv | 0.37% | 17,545 | $1.3M | Add +8.7% |
| VEA Vanguard Ftse Developed ETF | 0.36% | 24,077 | $1.2M | Reduce -17.6% |
| T AT&T Inc. | 0.36% | 42,991 | $1.2M | Reduce -1.1% |
| IHI iShares U.S. Medical Devices | 0.36% | 20,038 | $1.2M | Add +3.1% |
| GOOG Alphabet Inc. Class C | 0.35% | 7,654 | $1.2M | Add +1.7% |
| NUE Nucor Corp. | 0.35% | 9,792 | $1.2M | No change |
| INTC Intel Corp. | 0.32% | 47,875 | $1.1M | Reduce -3.2% |
| ARCB Arcbest Corp. | 0.32% | 15,235 | $1.1M | No change |
| IXJ iShares Global Healthcare Et | 0.31% | 11,719 | $1.1M | No change |
| QUAL iShares MSCI USA Quality Fac | 0.31% | 6,234 | $1.1M | No change |
| NEE Nextera Energy Inc. | 0.31% | 15,010 | $1.1M | No change |
| ADP Automatic Data Processing | 0.31% | 3,463 | $1.1M | Reduce -0.7% |
| TM Toyota Motor Corp. -Spon ADR | 0.31% | 5,958 | $1.1M | Reduce -1.2% |
| XBI SS SPDR S&P Biotech ETF | 0.30% | 12,736 | $1.0M | Add +0.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.30% | 4,582 | $1.0M | Reduce -1.3% |
| GEV GE Vernova Inc. | 0.29% | 3,189 | $974K | No change |
| COST Costco Wholesale Corp. | 0.28% | 1,001 | $947K | No change |
| KO The Coca-Cola Co. | 0.28% | 13,051 | $935K | Add +0.8% |
| VWO Vanguard Ftse Emerging Marke | 0.27% | 20,313 | $919K | Reduce -4.7% |
Portfolio Sells Q4 2024 → Q1 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.3% | 4.66% | −0.98 |
| ADBE Adobe Inc. | Reduce -21.0% | 1.95% | −0.95 |
| AAPL Apple Inc. | Reduce -0.2% | 5.01% | −0.72 |
| MSFT Microsoft Corp. | Reduce -0.2% | 2.99% | −0.42 |
| WGO Winnebago Industries | Reduce -0.4% | 0.71% | −0.29 |
| FDX FedEx Corp. | Reduce -3.1% | 1.32% | −0.28 |
| ORCL Oracle Corp. | Reduce -0.4% | 1.06% | −0.23 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -14.3% | 0.90% | −0.22 |
| IGM iShares Expanded Tech Sector | Reduce -1.2% | 0.98% | −0.15 |
| HD Home Depot Inc. | Reduce -0.8% | 1.29% | −0.11 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -6.3% | 0.60% | −0.11 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.09 |
| DOCU Docusign Inc. | Reduce -0.9% | 0.69% | −0.09 |
| BAC Bank of America Corp. | Reduce -1.3% | 1.02% | −0.08 |
| TGNA Tegna Inc. | Reduce -12.5% | 0.51% | −0.08 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −0.08 |
| DOW Dow Inc. | Sold out | 0.00% | −0.07 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.07 |
| WMT Walmart Inc. | Reduce -0.3% | 1.39% | −0.06 |
| EWT iShares MSCI Taiwan ETF | Reduce -19.5% | 0.17% | −0.06 |
| PSCD Invesco S&P Smallcap Consume | Sold out | 0.00% | −0.06 |
| BSV Vanguard Short-Term Bond ETF | Reduce -40.5% | 0.09% | −0.06 |
| VEA Vanguard Ftse Developed ETF | Reduce -17.6% | 0.36% | −0.06 |
| WH Wyndham Hotels & Resorts Inc. | Reduce -1.7% | 0.38% | −0.06 |
| TSLA Tesla Inc. | Reduce -8.8% | 0.07% | −0.05 |
| SYF Synchrony Financial | Reduce -5.9% | 0.16% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.8% | 0.38% | −0.05 |
| STZ Constellation Brands Inc. Class A | Reduce -9.2% | 0.13% | −0.05 |
| META Meta Platforms Inc. Class A | Reduce -0.8% | 1.08% | −0.04 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -1.2% | 0.31% | −0.04 |
| BBN BlackRock Taxable Muni BND | Reduce -30.1% | 0.09% | −0.04 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -1.0% | 0.96% | −0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.3% | 0.30% | −0.03 |
| OI O-I Glass Inc. | Reduce -16.8% | 0.22% | −0.03 |
| VOD Vodafone Group PLC-SP ADR | Sold out | 0.00% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -0.3% | 0.92% | −0.03 |
| CHW Calamos Global Dynamic Incom | Sold out | 0.00% | −0.03 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -30.8% | 0.06% | −0.03 |
| PTLC Pacer Trendpilot US Large Ca | Reduce -9.1% | 0.18% | −0.03 |
| CARR Carrier Global Corp. | Reduce -19.1% | 0.07% | −0.03 |
| C Citigroup Inc. | Reduce -3.7% | 0.57% | −0.03 |
| USA Liberty All Star Equity Fund | Sold out | 0.00% | −0.02 |
| CBRE CBRE Group Inc. Class A | Reduce -0.5% | 1.04% | −0.02 |
| VVR Invesco Senior Income Trust | Reduce -50.6% | 0.02% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -0.2% | 1.20% | −0.02 |
| EWG iShares MSCI Germany ETF | Reduce -28.0% | 0.08% | −0.02 |
| TNL Travel + Leisure Co. | Reduce -1.5% | 0.14% | −0.02 |
| MFIC Midcap Financial Investment | Reduce -1.8% | 0.20% | −0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.8% | 0.19% | −0.01 |
| XBFZX BlackRock Ca Muni Inc. TR | Reduce -7.9% | 0.09% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.94% | +0.94 |
| CGXU Cap Group Intl Focus | New | 0.90% | +0.90 |
| XLI SS Industrial Select Sector | Add +192.1% | 0.95% | +0.62 |
| SCHF Schwab Intl Equity ETF | New | 0.57% | +0.57 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +14.1% | 1.64% | +0.40 |
| CVX Chevron Corp. | Add +0.0% | 2.72% | +0.33 |
| JAAA Janus Henderson Aaa Clo ETF | Add +111.6% | 0.51% | +0.27 |
| VXUS Vanguard Total Intl Stock | New | 0.17% | +0.17 |
| FLGB Franklin Ftse United Kingdom | Add +33.5% | 0.56% | +0.17 |
| JNJ Johnson & Johnson | Add +1.4% | 1.16% | +0.15 |
| RSP Invesco S&P 500 Equal Weight | Add +13.9% | 1.41% | +0.14 |
| MDT Medtronic PLC | Add +9.8% | 0.72% | +0.13 |
| IWM iShares Russell 2000 ETF | Add +26.2% | 1.03% | +0.11 |
| B Barrick Gold Corp. | Add +5.5% | 0.39% | +0.09 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +2.5% | 1.75% | +0.09 |
| BTI British American Tob-SP ADR | Add +1.4% | 0.73% | +0.09 |
| AEP American Electric Power | Add +0.8% | 0.58% | +0.09 |
| BLK BlackRock Inc. | New | 0.08% | +0.08 |
| VDC Vanguard Consumer Staple ETF | Add +34.3% | 0.25% | +0.07 |
| SHEL Shell PLC-ADR | New | 0.06% | +0.06 |
| GDX Vaneck Gold Miners ETF | Add +5.2% | 0.18% | +0.05 |
| WY Weyerhaeuser Co. | Add +4.7% | 0.66% | +0.05 |
| DOC Healthpeak Properties Inc. | Add +8.2% | 0.73% | +0.04 |
| CWI State Street SPDR MSCI Acwi | Add +1.6% | 0.63% | +0.04 |
| KO The Coca-Cola Co. | Add +0.8% | 0.28% | +0.03 |
| KMI Kinder Morgan Inc. | Add +0.0% | 0.83% | +0.02 |
| GEHC GE Healthcare Technology | Add +16.3% | 0.13% | +0.02 |
| IHI iShares U.S. Medical Devices | Add +3.1% | 0.36% | +0.02 |
| XLB SS Materials Select Sector | Add +0.6% | 0.68% | +0.01 |
| VHT Vanguard Health Care ETF | Add +1.3% | 0.18% | +0.01 |
| PFE Pfizer Inc. | Add +7.2% | 0.52% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +2.6% | 0.58% | +0.00 |
| OXY Occidental Petroleum Corp. | Add +0.7% | 0.20% | −0.00 |
| VOO Vanguard S&P 500 ETF | Add +5.7% | 0.50% | −0.00 |
| BCSF Bain Capital Specialty Finan | Add +3.4% | 0.09% | −0.00 |
| XOP SS SPDR S&P Og Exp & Prod | Add +0.2% | 0.23% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Add +0.1% | 0.06% | −0.00 |
| CVE Cenovus Energy Inc. | Add +4.9% | 0.09% | −0.00 |
| DIS The Walt Disney Co. | Add +2.9% | 0.08% | −0.01 |
| XES SS SPDR S&P Og Eqp & Serv | Add +8.7% | 0.37% | −0.01 |
| DD Dupont DE Nemours Inc. | Add +1.7% | 0.91% | −0.02 |
| EMR Emerson Electric Co. | Add +0.7% | 0.19% | −0.03 |
| XBI SS SPDR S&P Biotech ETF | Add +0.2% | 0.30% | −0.04 |
| AMZN Amazon.com Inc. | Add +0.4% | 0.23% | −0.04 |
| MDY State Street SPDR S&P Midcap | Add +4.5% | 1.37% | −0.05 |
| GOOG Alphabet Inc. Class C | Add +1.7% | 0.35% | −0.08 |
| NVDA Nvidia Corp. | Add +0.9% | 0.61% | −0.15 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +1.2% | 0.95% | −0.23 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 250 | $465.9M | TSM, AAPL, MSFT, MU, IAU |
| Q1 2026 | 237 | $419.9M | TSM, AAPL, IAU, MSFT, CVX |
| Q4 2025 | 239 | $415.0M | TSM, AAPL, MSFT, IAU, PLTR |
| Q3 2025 | 232 | $404.9M | TSM, AAPL, MSFT, IAU, PLTR |
| Q2 2025 | 224 | $367.5M | TSM, AAPL, MSFT, CVX, IAU |
| Q1 2025 | 211 | $339.7M | AAPL, TSM, MSFT, CVX, IAU |
| Q4 2024 | 213 | $335.0M | AAPL, TSM, MSFT, ADBE, CVX |
| Q3 2024 | 212 | $330.9M | TSM, AAPL, MSFT, ADBE, CVX |
| Q2 2024 | 213 | $316.2M | TSM, AAPL, MSFT, ADBE, CVX |
| Q1 2024 | 206 | $300.7M | TSM, MSFT, ADBE, CVX, AAPL |