Meridian Investment Counsel Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 16, 2025), Meridian Investment Counsel Inc. reported 224 stock positions worth $367.5 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 5.8% of the portfolio, followed by Apple (AAPL, 4.2%) and Microsoft (MSFT, 3.8%). Compared with Q1 2025, it opened 16 new positions, sold out of 3, added to 56 and reduced 65. The biggest buy was Microsoft (MSFT, shares +3%) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- LAFAYETTE, CA
- CIK
- 0001427351
- Portfolio Value
- $367.5M (Q2 2025)
- SEC Filing
- 0001427351-25-000008 ↗ filed Jul 16, 2025
Holdings Value
Holdings 224 stocks · $367.5M
| TSM Taiwan Semiconductor-SP ADR | 5.80% | 94,031 | $21.3M | Reduce -1.4% |
| AAPL Apple Inc. | 4.25% | 76,083 | $15.6M | Reduce -0.6% |
| MSFT Microsoft Corp. | 3.78% | 27,953 | $13.9M | Add +3.4% |
| CVX Chevron Corp. | 2.17% | 55,754 | $8.0M | Add +0.8% |
| IAU iShares Gold Trust | 2.14% | 125,985 | $7.9M | Add +0.0% |
| PLTR Palantir Technologies Inc. Class A | 1.84% | 49,632 | $6.8M | Reduce -10.0% |
| ADBE Adobe Inc. | 1.82% | 17,307 | $6.7M | Add +0.0% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.72% | 77,347 | $6.3M | Add +2.5% |
| ORCL Oracle Corp. | 1.54% | 25,818 | $5.6M | No change |
| NSC Norfolk Southern Corp. | 1.47% | 21,043 | $5.4M | No change |
| WMT Walmart Inc. | 1.43% | 53,798 | $5.3M | No change |
| RSP Invesco S&P 500 Equal Weight | 1.36% | 27,550 | $5.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 1.36% | 10,284 | $5.0M | Reduce -1.6% |
| ABBV Abbvie Inc. | 1.36% | 26,851 | $5.0M | Add +1.1% |
| MDY State Street SPDR S&P Midcap | 1.35% | 8,750 | $5.0M | Add +0.3% |
| TRV The Travelers Cos Inc. | 1.31% | 17,978 | $4.8M | No change |
| META Meta Platforms Inc. Class A | 1.24% | 6,192 | $4.6M | Reduce -2.4% |
| HD Home Depot Inc. | 1.22% | 12,181 | $4.5M | Add +1.6% |
| QCOM Qualcomm Inc. | 1.18% | 27,226 | $4.3M | Add +2.7% |
| IGM iShares Expanded Tech Sector | 1.12% | 36,795 | $4.1M | No change |
| MET Metlife Inc. | 1.12% | 51,110 | $4.1M | Reduce -1.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.06% | 82,129 | $3.9M | Reduce -0.8% |
| IWM iShares Russell 2000 ETF | 1.05% | 17,947 | $3.9M | Add +2.5% |
| CBRE CBRE Group Inc. Class A | 1.03% | 26,934 | $3.8M | No change |
| XLI SS Industrial Select Sector | 1.01% | 25,101 | $3.7M | Add +1.6% |
| JNJ Johnson & Johnson | 1.00% | 24,149 | $3.7M | Add +1.5% |
| CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT | 0.98% | 133,290 | $3.6M | Add +6.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.98% | 52,387 | $3.6M | Add +13.3% |
| FDX FedEx Corp. | 0.98% | 15,783 | $3.6M | Reduce -14.5% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.93% | 7,771 | $3.4M | Reduce -0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.89% | 5,297 | $3.3M | Reduce -3.3% |
| CMCSA Comcast Corp. Class A | 0.81% | 83,883 | $3.0M | Reduce -0.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.79% | 4 | $2.9M | No change |
| KMI Kinder Morgan Inc. | 0.79% | 98,174 | $2.9M | Reduce -1.2% |
| MCK McKesson Corp. | 0.78% | 3,898 | $2.9M | No change |
| DD Dupont DE Nemours Inc. | 0.78% | 41,542 | $2.8M | Add +0.9% |
| BTI British American Tob-SP ADR | 0.77% | 59,537 | $2.8M | No change |
| NVDA Nvidia Corp. | 0.73% | 16,983 | $2.7M | Reduce -10.5% |
| GE General Electric filed as GE AEROSPACE | 0.72% | 10,234 | $2.6M | Add +0.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.71% | 8,858 | $2.6M | Add +1.1% |
| JPM JPMorgan Chase & Co. | 0.69% | 8,787 | $2.5M | No change |
| XLV SS Health Care Select Sector | 0.68% | 18,505 | $2.5M | No change |
| MDT Medtronic PLC | 0.67% | 28,158 | $2.5M | Add +2.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.65% | 4,323 | $2.4M | No change |
| XLB SS Materials Select Sector | 0.64% | 26,985 | $2.4M | No change |
| LHX L3HARRIS Technologies Inc. | 0.64% | 9,400 | $2.4M | No change |
| CWI State Street SPDR MSCI Acwi | 0.64% | 72,039 | $2.4M | No change |
| GILD Gilead Sciences Inc. | 0.64% | 21,167 | $2.3M | No change |
| AXON Axon Enterprise Inc. | 0.63% | 2,779 | $2.3M | Reduce -0.8% |
| SCHF Schwab Intl Equity ETF | 0.62% | 102,735 | $2.3M | Add +4.8% |
| C Citigroup Inc. | 0.62% | 26,552 | $2.3M | Reduce -2.6% |
| DOCU Docusign Inc. | 0.60% | 28,474 | $2.2M | Reduce -1.6% |
| DOC Healthpeak Properties Inc. | 0.58% | 122,407 | $2.1M | Add +0.2% |
| HON Honeywell International Inc. | 0.58% | 9,125 | $2.1M | Add +7.4% |
| WGO Winnebago Industries | 0.57% | 71,640 | $2.1M | Add +1.9% |
| CB Chubb Ltd. | 0.55% | 7,034 | $2.0M | No change |
| FLGB Franklin Ftse United Kingdom | 0.55% | 66,325 | $2.0M | Add +0.1% |
| AMGN Amgen Inc. | 0.53% | 7,040 | $2.0M | Add +4.0% |
| WY Weyerhaeuser Co. | 0.53% | 76,091 | $2.0M | Reduce -1.0% |
| WFC Wells Fargo & Co. | 0.53% | 24,295 | $1.9M | No change |
| VGT Vanguard Info Tech ETF | 0.53% | 2,933 | $1.9M | No change |
| VOO Vanguard S&P 500 ETF | 0.52% | 3,345 | $1.9M | Add +0.6% |
| AEP American Electric Power | 0.50% | 17,715 | $1.8M | Reduce -1.0% |
| TAP Molson Coors Beverage Co. Class B | 0.49% | 37,804 | $1.8M | Reduce -8.0% |
| CSCO Cisco Systems Inc. | 0.49% | 26,045 | $1.8M | Add +2.1% |
| VZ Verizon Communications Inc. | 0.48% | 40,903 | $1.8M | Reduce -3.7% |
| GPC Genuine Parts Co. | 0.48% | 14,416 | $1.7M | No change |
| JAAA Janus Henderson Aaa Clo ETF | 0.47% | 33,700 | $1.7M | Reduce -2.0% |
| GEV GE Vernova Inc. | 0.46% | 3,189 | $1.7M | No change |
| PFE Pfizer Inc. | 0.46% | 69,425 | $1.7M | Reduce -0.6% |
| DGT SS SPDR Global Dow ETF | 0.44% | 10,718 | $1.6M | No change |
| UBER Uber Technologies Inc. | 0.44% | 17,175 | $1.6M | New |
| BP BP PLC-Spons ADR | 0.43% | 53,322 | $1.6M | No change |
| TGNA Tegna Inc. | 0.41% | 90,243 | $1.5M | Reduce -4.3% |
| MGM MGM Resorts International | 0.40% | 42,900 | $1.5M | Reduce -5.1% |
| MTG Mgic Investment Corp. | 0.40% | 52,900 | $1.5M | Reduce -2.0% |
| KDP Keurig Dr Pepper Inc. | 0.39% | 43,424 | $1.4M | Reduce -13.7% |
| B Barrick Mining Corp. | 0.39% | 68,866 | $1.4M | No change |
| VEA Vanguard Ftse Developed ETF | 0.38% | 24,197 | $1.4M | Add +0.5% |
| GOOG Alphabet Inc. Class C | 0.37% | 7,765 | $1.4M | Add +1.4% |
| IJR iShares Core S&P Small-Cap E | 0.36% | 12,268 | $1.3M | No change |
| IHI iShares U.S. Medical Devices | 0.35% | 20,663 | $1.3M | Add +3.1% |
| NUE Nucor Corp. | 0.35% | 9,792 | $1.3M | No change |
| XLE SS Energy Select Sector | 0.34% | 14,910 | $1.3M | No change |
| VXUS Vanguard Total Intl Stock | 0.34% | 18,195 | $1.3M | Add +94.1% |
| KVUE Kenvue Inc. | 0.34% | 59,659 | $1.2M | Reduce -13.1% |
| XOM Exxon Mobil Corp. | 0.33% | 11,388 | $1.2M | Reduce -1.1% |
| T AT&T Inc. | 0.33% | 41,991 | $1.2M | Reduce -2.3% |
| ARCB Arcbest Corp. | 0.32% | 15,235 | $1.2M | No change |
| WH Wyndham Hotels & Resorts Inc. | 0.31% | 14,169 | $1.2M | No change |
| QUAL iShares MSCI USA Quality Fac | 0.31% | 6,234 | $1.1M | No change |
| XES SS SPDR S&P Og Eqp & Serv | 0.31% | 17,920 | $1.1M | Add +2.1% |
| ADP Automatic Data Processing | 0.30% | 3,588 | $1.1M | Add +3.6% |
| XBI SS SPDR S&P Biotech ETF | 0.30% | 13,206 | $1.1M | Add +3.7% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.29% | 4,569 | $1.1M | Reduce -0.3% |
| COST Costco Wholesale Corp. | 0.29% | 1,066 | $1.1M | Add +6.5% |
| VWO Vanguard Ftse Emerging Marke | 0.29% | 21,313 | $1.1M | Add +4.9% |
| FCX Freeport-McMoran Inc. | 0.28% | 24,115 | $1.0M | Add +0.4% |
| NEE Nextera Energy Inc. | 0.28% | 15,010 | $1.0M | No change |
| GOOGL Alphabet Inc. Class A | 0.28% | 5,837 | $1.0M | Add +35.0% |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -0.6% | 4.25% | −0.76 |
| FDX FedEx Corp. | Reduce -14.5% | 0.98% | −0.35 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.6% | 1.36% | −0.28 |
| TAP Molson Coors Beverage Co. Class B | Reduce -8.0% | 0.49% | −0.24 |
| X United States Steel Corp. | Sold out | 0.00% | −0.18 |
| KVUE Kenvue Inc. | Reduce -13.1% | 0.34% | −0.14 |
| WY Weyerhaeuser Co. | Reduce -1.0% | 0.53% | −0.13 |
| KDP Keurig Dr Pepper Inc. | Reduce -13.7% | 0.39% | −0.12 |
| MET Metlife Inc. | Reduce -1.2% | 1.12% | −0.10 |
| CMCSA Comcast Corp. Class A | Reduce -0.6% | 0.81% | −0.10 |
| TGNA Tegna Inc. | Reduce -4.3% | 0.41% | −0.09 |
| DOCU Docusign Inc. | Reduce -1.6% | 0.60% | −0.09 |
| VZ Verizon Communications Inc. | Reduce -3.7% | 0.48% | −0.09 |
| AEP American Electric Power | Reduce -1.0% | 0.50% | −0.08 |
| XOM Exxon Mobil Corp. | Reduce -1.1% | 0.33% | −0.07 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.06 |
| SHEL Shell PLC-ADR | Sold out | 0.00% | −0.06 |
| PFE Pfizer Inc. | Reduce -0.6% | 0.46% | −0.06 |
| MFIC Midcap Financial Investment | Reduce -21.3% | 0.14% | −0.06 |
| INTC Intel Corp. | Reduce -8.8% | 0.27% | −0.05 |
| ALLY Ally Financial Inc. | Reduce -26.4% | 0.14% | −0.05 |
| KMI Kinder Morgan Inc. | Reduce -1.2% | 0.79% | −0.05 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -2.0% | 0.47% | −0.05 |
| IXJ iShares Global Healthcare Et | Reduce -0.1% | 0.27% | −0.04 |
| SBUX Starbucks Corp. | Reduce -15.3% | 0.10% | −0.04 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -1.2% | 0.28% | −0.03 |
| CTRA Coterra Energy Inc. | Reduce -3.7% | 0.12% | −0.03 |
| VHT Vanguard Health Care ETF | Reduce -4.2% | 0.15% | −0.03 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -0.2% | 0.93% | −0.03 |
| T AT&T Inc. | Reduce -2.3% | 0.33% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -0.0% | 0.10% | −0.02 |
| GNW Genworth Financial Inc. | Reduce -23.0% | 0.07% | −0.02 |
| BCSF Bain Capital Specialty Finan | Reduce -5.2% | 0.07% | −0.02 |
| HPQ HP Inc. | Reduce -0.1% | 0.07% | −0.02 |
| PNNT Pennantpark Investment Corp. | Reduce -2.2% | 0.08% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.3% | 0.89% | −0.01 |
| LNC Lincoln National Corp. | Reduce -0.2% | 0.09% | −0.01 |
| OI O-I Glass Inc. | Reduce -19.6% | 0.21% | −0.01 |
| UTF Cohen & Steers Infrastructur | Reduce -2.9% | 0.17% | −0.01 |
| TSLA Tesla Inc. | Reduce -19.8% | 0.07% | −0.01 |
| VVR Invesco Senior Income Trust | Reduce -28.6% | 0.01% | −0.01 |
| CET Central Securities Corp. | Reduce -2.3% | 0.13% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.3% | 0.29% | −0.00 |
| MMM 3M Co. | Reduce -1.8% | 0.07% | −0.00 |
| DB Deutsche Bank AG-Registered | Reduce -14.3% | 0.10% | −0.00 |
| WBD Warner Bros Discovery Inc. | Reduce -1.2% | 0.10% | −0.00 |
| LECO Lincoln Electric Holdings | Reduce -1.7% | 0.16% | −0.00 |
| XLC SS Comm Select Sector SPDR | Reduce -3.7% | 0.23% | +0.00 |
| CARR Carrier Global Corp. | Reduce -5.2% | 0.07% | +0.00 |
| TNL Travel + Leisure Co. | Reduce -1.9% | 0.14% | +0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +3.4% | 3.78% | +0.80 |
| UBER Uber Technologies Inc. | New | 0.44% | +0.44 |
| VXUS Vanguard Total Intl Stock | Add +94.1% | 0.34% | +0.17 |
| LIN Linde PLC | New | 0.15% | +0.15 |
| ACHR Archer Aviation Inc. Class A | New | 0.12% | +0.12 |
| GE General Electric | Add +0.0% | 0.72% | +0.11 |
| BLK BlackRock Inc. | Add +127.6% | 0.18% | +0.10 |
| STX Seagate Technology Holdings | New | 0.09% | +0.09 |
| GOOGL Alphabet Inc. Class A | Add +35.0% | 0.28% | +0.08 |
| CGXU Cap Group Intl Focus | Add +6.2% | 0.98% | +0.08 |
| AMD Advanced Micro Devices | New | 0.07% | +0.07 |
| IBM Intl Business Machines Corp. | Add +1.1% | 0.71% | +0.07 |
| V Visa Inc. Class A | New | 0.06% | +0.06 |
| NFLX Netflix Inc. | New | 0.06% | +0.06 |
| BA The Boeing Co. | New | 0.06% | +0.06 |
| PNQI Invesco Nasdaq Internet ETF | New | 0.06% | +0.06 |
| TDIV FT Nasdaq Tech DVD Index FD | New | 0.06% | +0.06 |
| PH Parker Hannifin Corp. | New | 0.06% | +0.06 |
| XYZ Block Inc. | New | 0.06% | +0.06 |
| CAR Avis Budget Group Inc. | New | 0.06% | +0.06 |
| ISRG Intuitive Surgical Inc. | New | 0.06% | +0.06 |
| SYK Stryker Corp. | New | 0.05% | +0.05 |
| BIV Vanguard Intermediate-Term B | New | 0.05% | +0.05 |
| XLI SS Industrial Select Sector | Add +1.6% | 1.01% | +0.05 |
| HON Honeywell International Inc. | Add +7.4% | 0.58% | +0.05 |
| SCHF Schwab Intl Equity ETF | Add +4.8% | 0.62% | +0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +13.3% | 0.98% | +0.04 |
| AMZN Amazon.com Inc. | Add +8.7% | 0.27% | +0.04 |
| CSCO Cisco Systems Inc. | Add +2.1% | 0.49% | +0.03 |
| IWM iShares Russell 2000 ETF | Add +2.5% | 1.05% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +1.4% | 0.37% | +0.02 |
| RTX RTX Corp. | Add +6.5% | 0.26% | +0.02 |
| DIS The Walt Disney Co. | Add +7.8% | 0.10% | +0.02 |
| FCX Freeport-McMoran Inc. | Add +0.4% | 0.28% | +0.02 |
| VWO Vanguard Ftse Emerging Marke | Add +4.9% | 0.29% | +0.02 |
| VEA Vanguard Ftse Developed ETF | Add +0.5% | 0.38% | +0.02 |
| VDC Vanguard Consumer Staple ETF | Add +14.3% | 0.26% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +0.6% | 0.52% | +0.01 |
| COST Costco Wholesale Corp. | Add +6.5% | 0.29% | +0.01 |
| SCHX Schwab US Large-Cap ETF | Add +8.3% | 0.07% | +0.01 |
| ABT Abbott Laboratories | Add +8.3% | 0.12% | +0.00 |
| DUK Duke Energy Corp. | Add +11.9% | 0.13% | +0.00 |
| CVE Cenovus Energy Inc. | Add +9.4% | 0.09% | −0.00 |
| MA Mastercard Inc. Class A | Add +4.1% | 0.08% | −0.00 |
| MCD McDonald's Corp. | Add +14.3% | 0.11% | −0.00 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +1.5% | 0.08% | −0.00 |
| IHI iShares U.S. Medical Devices | Add +3.1% | 0.35% | −0.00 |
| GEHC GE Healthcare Technology | Add +14.6% | 0.13% | −0.00 |
| FLGB Franklin Ftse United Kingdom | Add +0.1% | 0.55% | −0.01 |
| XBI SS SPDR S&P Biotech ETF | Add +3.7% | 0.30% | −0.01 |
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 |