Middleton & Co. Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), Middleton & Co. Inc. reported 166 stock positions worth $925.3 million. Its top holding was Apple (AAPL) at 6.4% of the portfolio, followed by Alphabet Class A (GOOGL, 5.9%) and Amazon.com (AMZN, 5.9%). Compared with Q2 2025, it opened 8 new positions, sold out of 3, added to 26 and reduced 84. The biggest buy was Eli Lilly (LLY, shares +1694%) and the biggest sale an exit from Unitedhealth (UNH).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0000919497
Portfolio Value
$925.3M (Q3 2025)
SEC Filing
0001398344-25-019980 ↗ filed Oct 29, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $867.1M Q1 2024 Q2 2024: $860.7M Q2 2024 Q3 2024: $905.0M Q3 2024 Q4 2024: $905.1M Q4 2024 Q1 2025: $856.0M Q1 2025 Q2 2025: $890.3M Q2 2025 Q3 2025: $925.3M $925.3M Q3 2025 Q4 2025: $941.8M Q4 2025 Q1 2026: $876.9M Q1 2026 Q2 2026: $941.9M Q2 2026

Holdings 166 stocks · $925.3M
AAPL Apple Inc. 6.38% 231,949 $59.1M Reduce -1.4%
GOOGL Alphabet Inc. Class A 5.94% 226,152 $55.0M Reduce -3.1%
AMZN Amazon.com Inc. 5.86% 246,975 $54.2M Reduce -2.4%
AVGO Broadcom Inc. 4.81% 134,848 $44.5M Reduce -1.8%
IVV iShares Core S&P 500 ETF 3.40% 47,040 $31.5M Reduce -6.3%
MSFT Microsoft Corp. 3.23% 57,783 $29.9M Reduce -2.3%
V Visa Inc. Class A 2.67% 72,504 $24.8M Reduce -3.8%
JPM JPMorgan Chase & Co. 2.48% 72,713 $22.9M Reduce -4.9%
COST Costco Wholesale Corp. 2.45% 24,508 $22.7M Reduce -2.5%
ORLY O'reilly Automotive Inc. 2.38% 204,115 $22.0M Reduce -3.5%
PANW Palo Alto Networks Inc. 2.14% 97,198 $19.8M Reduce -0.2%
ABBV Abbvie Inc. 2.00% 80,100 $18.5M Reduce -3.4%
NOW ServiceNow Inc. 1.97% 19,787 $18.2M Add +1.3%
INTU Intuit Inc. 1.66% 22,511 $15.4M Reduce -2.6%
QCOM Qualcomm Inc. 1.54% 85,877 $14.3M Add +0.4%
CRM Salesforce Inc. 1.53% 59,617 $14.1M Add +0.4%
DHR Danaher Corp. 1.49% 69,336 $13.7M Reduce -4.0%
NEE Nextera Energy Inc. 1.47% 180,295 $13.6M Reduce -2.9%
XOM Exxon Mobil Corp. 1.39% 114,144 $12.9M Reduce -2.3%
IEF iShares 7-10 Year Treasury B 1.39% 133,091 $12.8M Reduce -1.2%
BRK.B Berkshire Hathaway Inc. Class B 1.36% 25,072 $12.6M Reduce -2.2%
NVDA Nvidia Corp. 1.31% 64,852 $12.1M Add +10.9%
MRK Merck & Co. Inc. 1.30% 143,114 $12.0M Reduce -1.9%
STE Steris PLC 1.29% 48,237 $11.9M Reduce -2.4%
XYL Xylem Inc. 1.29% 80,886 $11.9M Reduce -0.6%
SNPS Synopsys Inc. 1.16% 21,712 $10.7M Add +10.7%
META Meta Platforms Inc. Class A 1.16% 14,564 $10.7M Reduce -1.9%
AMT American Tower Corp. 1.13% 54,318 $10.4M Reduce -3.0%
VRSK Verisk Analytics Inc. 1.11% 40,921 $10.3M Reduce -3.2%
SPGI S&P Global Inc. 1.11% 21,032 $10.2M Reduce -2.6%
ADBE Adobe Inc. 1.07% 28,138 $9.9M Add +14.9%
VGSH Vanguard Short-Term Treasury 1.05% 164,874 $9.7M Add +0.3%
EQIX Equinix Inc. 1.04% 12,295 $9.6M Add +6.7%
LLY Eli Lilly & Co. 1.00% 12,107 $9.2M Add +1693.6%
IQV Iqvia Holdings Inc. 0.94% 45,580 $8.7M Add +3.4%
ECL Ecolab Inc. 0.92% 31,025 $8.5M Reduce -4.7%
GOOG Alphabet Inc. Class C 0.92% 34,871 $8.5M Reduce -3.3%
IDXX Idexx Laboratories Inc. 0.91% 13,135 $8.4M Reduce -1.3%
ETN Eaton Corp. PLC 0.89% 21,958 $8.2M Add +31.7%
SYK Stryker Corp. 0.86% 21,579 $8.0M Reduce -3.5%
MDLZ Mondelez International Inc. Class A 0.85% 125,619 $7.8M Add +0.9%
VGIT Vanguard Intermediate-Term T 0.80% 123,920 $7.4M Add +2.3%
MSCI MSCI Inc. 0.77% 12,530 $7.1M Add +0.8%
FISV Fiserv Inc. 0.74% 52,893 $6.8M Add +12.6%
IQLT iShares MSCI International Q 0.71% 148,042 $6.5M Reduce -4.3%
CEG Constellation Energy 0.69% 19,289 $6.3M Add +6.2%
FTV Fortive Corp. 0.63% 118,403 $5.8M Reduce -2.0%
IJR iShares Core S&P Small-Cap E 0.56% 43,725 $5.2M Reduce -0.0%
IJH iShares Core S&P Midcap ETF 0.56% 79,265 $5.2M Reduce -3.5%
VCSH Vanguard S/T Corp. Bond ETF 0.56% 64,521 $5.2M Reduce -6.4%
CB Chubb Ltd. 0.53% 17,526 $4.9M Reduce -1.5%
AWK American Water Works Co. Inc. 0.50% 33,509 $4.7M Add +56.6%
PEP Pepsico Inc. 0.50% 32,650 $4.6M Add +7.7%
ABT Abbott Laboratories 0.47% 32,160 $4.3M Reduce -2.5%
EXC Exelon Corp. 0.46% 95,152 $4.3M Reduce -2.6%
PAAA Pgim Aaa Clo ETF 0.46% 82,635 $4.3M Reduce -1.6%
BR Broadridge Financial Solutio 0.42% 16,365 $3.9M Reduce -3.4%
WCN Waste Connections Inc. 0.40% 21,253 $3.7M Add +13.8%
ODFL Old Dominion Freight Line 0.39% 25,689 $3.6M Reduce -1.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.39% 5,399 $3.6M Add +0.9%
HD Home Depot Inc. 0.37% 8,536 $3.5M Reduce -3.7%
IWF iShares Russell 1000 Growth 0.37% 7,276 $3.4M Reduce -0.1%
ROP Roper Technologies Inc. 0.35% 6,573 $3.3M Reduce -2.2%
WSO Watsco Inc. 0.33% 7,625 $3.1M Reduce -2.4%
USFR Wisdomtree Floating Rate Tre 0.29% 53,780 $2.7M Reduce -4.1%
APTV Aptiv PLC 0.27% 29,135 $2.5M Reduce -11.2%
TMO Thermo Fisher Scientific Inc. 0.27% 5,167 $2.5M Reduce -0.3%
ROL Rollins Inc. 0.26% 41,300 $2.4M Reduce -6.6%
CVX Chevron Corp. 0.26% 15,481 $2.4M Reduce -1.6%
MA Mastercard Inc. Class A 0.25% 4,083 $2.3M Add +8.2%
IWR iShares Russell Mid-Cap ETF 0.25% 23,898 $2.3M Reduce -5.9%
BRK.A Berkshire Hathaway Inc. Class A 0.24% 3 $2.3M No change
LRCX Lam Research Corp. 0.23% 16,231 $2.2M No change
RNR Renaissancere Holdings Ltd. 0.23% 8,276 $2.1M Reduce -38.6%
RTX RTX Corp. 0.21% 11,842 $2.0M Reduce -1.5%
LOW Lowe's Cos Inc. 0.21% 7,857 $2.0M Reduce -11.7%
PG The Procter & Gamble Co. 0.21% 12,850 $2.0M No change
JNJ Johnson & Johnson 0.21% 10,543 $2.0M Reduce -1.0%
ZTS Zoetis Inc. 0.21% 13,173 $1.9M Reduce -2.4%
KR Kroger Co. 0.20% 27,561 $1.9M Add +35.6%
PNC PNC Financial Services Group 0.17% 7,993 $1.6M No change
VTEB Vanguard Tax-Exempt Bond ETF 0.17% 31,100 $1.6M No change
MDY State Street SPDR S&P Midcap 0.15% 2,373 $1.4M No change
UNP Union Pacific Corp. 0.15% 5,853 $1.4M Reduce -0.4%
ADP Automatic Data Processing 0.15% 4,681 $1.4M Reduce -7.2%
RAL Ralliant Corp. 0.15% 31,405 $1.4M Reduce -22.0%
BLK BlackRock Inc. 0.14% 1,146 $1.3M Reduce -0.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.14% 11,509 $1.3M Reduce -5.7%
MNST Monster Beverage Corp. 0.13% 18,517 $1.2M Reduce -30.9%
SBUX Starbucks Corp. 0.13% 13,920 $1.2M Reduce -31.2%
IWM iShares Russell 2000 ETF 0.13% 4,830 $1.2M Reduce -0.5%
IWD iShares Russell 1000 Value E 0.13% 5,696 $1.2M No change
EOG EOG Resources Inc. 0.12% 10,018 $1.1M Reduce -14.3%
PSA Public Storage 0.11% 3,649 $1.1M Reduce -16.1%
ISHG iShares -3 Year Internationa 0.11% 13,718 $1.0M Add +0.2%
WMT Walmart Inc. 0.11% 10,046 $1.0M Reduce -0.1%
AVUV Avantis US Small Cap Value 0.11% 10,236 $1.0M Reduce -6.0%
MAXJ iShares LG Cap Max Buff Jun 0.11% 36,117 $1.0M No change
NOC Northrop Grumman Corp. 0.11% 1,630 $993K Reduce -0.9%
XPO Xpo Inc. 0.10% 7,450 $963K Reduce -0.2%
ORCL Oracle Corp. 0.10% 3,410 $959K Reduce -12.1%
IVW iShares S&P 500 Growth ETF 0.10% 7,540 $910K Reduce -0.5%
AVY Avery Dennison Corp. 0.09% 4,860 $788K Reduce -10.6%
STIP iShares 0-5 Year Tips Bond E 0.08% 6,841 $707K No change
PAYX Paychex Inc. 0.08% 5,535 $702K Reduce -6.7%
GLDM SPDR Gold Minishares Trust 0.08% 9,151 $700K No change
IVE iShares S&P 500 Value ETF 0.08% 3,380 $698K Add +12.5%
APD Air Products & Chemicals Inc. 0.07% 2,398 $654K Reduce -18.4%
VLTO Veralto Corp. 0.06% 5,156 $550K No change
URI United Rentals Inc. 0.06% 575 $549K Reduce -4.2%
IWP iShares Russell Mid-Cap Grow 0.06% 3,819 $544K No change
CGW Invesco S&P Global Water Ind 0.06% 8,418 $541K No change
IBB iShares Biotechnology ETF 0.06% 3,600 $520K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 1,777 $501K No change
ELV Elevance Health Inc. 0.05% 1,525 $493K No change
TIP iShares Tips Bond ETF 0.05% 4,244 $472K No change
NKE Nike Inc. Class B 0.05% 6,678 $466K Reduce -31.7%
VB Vanguard Most SM-Cap ETF-Usd 0.05% 1,730 $440K No change
PH Parker Hannifin Corp. 0.05% 580 $440K Reduce -4.9%
CI The Cigna Group 0.05% 1,524 $439K No change
QQQ Invesco QQQ Trust Series 1 0.05% 710 $426K No change
MTD Mettler-Toledo International 0.05% 345 $424K No change
HEQT Simplify Hedged Equity ETF 0.04% 13,025 $407K No change
XHLF Bondbloxx BBG 6 MTH US Treas 0.04% 8,000 $403K No change
UBER Uber Technologies Inc. 0.04% 4,110 $403K Add +89.8%
ACN Accenture PLC Class A 0.04% 1,615 $398K No change
GLD SPDR Gold Shares 0.04% 1,112 $395K No change
AXP American Express Co. 0.04% 1,125 $374K Reduce -2.2%
ICE Intercontinental Exchange Inc. 0.04% 2,128 $359K No change
KO The Coca-Cola Co. 0.04% 5,325 $353K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 6,774 $349K Reduce -10.0%
ISRG Intuitive Surgical Inc. 0.04% 772 $345K Reduce -1.4%
KKR KKR & Co. Inc. 0.04% 2,622 $341K No change
AZO AutoZone Inc. 0.04% 79 $339K New
NXPI NXP Semiconductors NV 0.04% 1,448 $330K Add +42.5%
MRSH Marsh & McLennan Cos 0.04% 1,635 $330K New
AGG iShares Core U.S. Aggregate 0.04% 3,250 $326K No change
AMGN Amgen Inc. 0.03% 1,076 $304K No change
WELL Welltower Inc. 0.03% 1,700 $303K No change
IGV iShares Expanded Tech-Softwa 0.03% 2,500 $288K No change
PLD Prologis Inc. 0.03% 2,500 $286K No change
BKNG Booking Holdings Inc. 0.03% 52 $281K No change
KLAC KLA Corp. 0.03% 250 $270K No change
CL Colgate-Palmolive Co. 0.03% 3,220 $257K No change
BX Blackstone Inc. 0.03% 1,500 $256K No change
DMAX iShares LG Cap Max Buff Dec 0.03% 9,550 $252K No change
IGM iShares Expanded Tech Sector 0.03% 2,000 $252K Reduce -4.8%
VCIT Vanguard Int-Term Corporate 0.03% 2,875 $242K No change
CSX CSX Corp. 0.03% 6,775 $241K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 4,511 $239K No change
EW Edwards Lifesciences Corp. 0.03% 3,073 $239K New
DVY iShares Select Dividend ETF 0.03% 1,675 $238K No change
EPAM Epam Systems Inc. 0.03% 1,555 $234K No change
CAT Caterpillar Inc. 0.03% 490 $234K New
ANET Arista Networks Inc. 0.03% 1,600 $233K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.02% 784 $230K No change
VTI VG Morningstar TS MKT ETF-US 0.02% 697 $229K No change
MCD McDonald's Corp. 0.02% 746 $227K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.02% 1,536 $222K New
CSCO Cisco Systems Inc. 0.02% 3,197 $219K No change
CVS CVS Health Corp. 0.02% 2,900 $219K Reduce -6.5%
EFA iShares MSCI Eafe ETF 0.02% 2,235 $209K New
GXO Gxo Logistics Inc. 0.02% 3,940 $208K Reduce -8.2%
HON Honeywell International Inc. 0.02% 978 $206K No change
NYF iShares New York Muni Bond E 0.02% 3,800 $203K New
ARRY Array Technologies Inc. 0.02% 17,250 $141K Reduce -25.8%

Portfolio Sells Q2 2025 → Q3 2025
UNH Unitedhealth Group Inc. Sold out 0.00% −0.94
INTU Intuit Inc. Reduce -2.6% 1.66% −0.38
AMZN Amazon.com Inc. Reduce -2.4% 5.86% −0.37
VRSK Verisk Analytics Inc. Reduce -3.2% 1.11% −0.37
COST Costco Wholesale Corp. Reduce -2.5% 2.45% −0.34
V Visa Inc. Class A Reduce -3.8% 2.67% −0.33
AMT American Tower Corp. Reduce -3.0% 1.13% −0.26
SPGI S&P Global Inc. Reduce -2.6% 1.11% −0.17
RNR Renaissancere Holdings Ltd. Reduce -38.6% 0.23% −0.14
SYK Stryker Corp. Reduce -3.5% 0.86% −0.13
DHR Danaher Corp. Reduce -4.0% 1.49% −0.12
IVV iShares Core S&P 500 ETF Reduce -6.3% 3.40% −0.10
PANW Palo Alto Networks Inc. Reduce -0.2% 2.14% −0.10
ODFL Old Dominion Freight Line Reduce -1.5% 0.39% −0.08
SBUX Starbucks Corp. Reduce -31.2% 0.13% −0.08
FTV Fortive Corp. Reduce -2.0% 0.63% −0.08
META Meta Platforms Inc. Class A Reduce -1.9% 1.16% −0.07
ROP Roper Technologies Inc. Reduce -2.2% 0.35% −0.07
RAL Ralliant Corp. Reduce -22.0% 0.15% −0.07
MSFT Microsoft Corp. Reduce -2.3% 3.23% −0.07
ECL Ecolab Inc. Reduce -4.7% 0.92% −0.07
IEF iShares 7-10 Year Treasury B Reduce -1.2% 1.39% −0.06
VCSH Vanguard S/T Corp. Bond ETF Reduce -6.4% 0.56% −0.06
WSO Watsco Inc. Reduce -2.4% 0.33% −0.05
MNST Monster Beverage Corp. Reduce -30.9% 0.13% −0.05
CB Chubb Ltd. Reduce -1.5% 0.53% −0.04
IQLT iShares MSCI International Q Reduce -4.3% 0.71% −0.04
STE Steris PLC Reduce -2.4% 1.29% −0.04
BR Broadridge Financial Solutio Reduce -3.4% 0.42% −0.04
ABT Abbott Laboratories Reduce -2.5% 0.47% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.2% 1.36% −0.04
EOG EOG Resources Inc. Reduce -14.3% 0.12% −0.04
PSA Public Storage Reduce -16.1% 0.11% −0.03
ZTS Zoetis Inc. Reduce -2.4% 0.21% −0.03
NKE Nike Inc. Class B Reduce -31.7% 0.05% −0.03
DIS The Walt Disney Co. Reduce -5.7% 0.14% −0.03
ADP Automatic Data Processing Reduce -7.2% 0.15% −0.03
PAAA Pgim Aaa Clo ETF Reduce -1.6% 0.46% −0.03
USFR Wisdomtree Floating Rate Tre Reduce -4.1% 0.29% −0.02
NFLX Netflix Inc. Sold out 0.00% −0.02
XOM Exxon Mobil Corp. Reduce -2.3% 1.39% −0.02
JMST JPM Ultra-Short Muni Income Sold out 0.00% −0.02
APD Air Products & Chemicals Inc. Reduce -18.4% 0.07% −0.02
AVY Avery Dennison Corp. Reduce -10.6% 0.09% −0.02
PAYX Paychex Inc. Reduce -6.7% 0.08% −0.02
ROL Rollins Inc. Reduce -6.6% 0.26% −0.02
EXC Exelon Corp. Reduce -2.6% 0.46% −0.01
IJH iShares Core S&P Midcap ETF Reduce -3.5% 0.56% −0.01
IWR iShares Russell Mid-Cap ETF Reduce -5.9% 0.25% −0.01
JPM JPMorgan Chase & Co. Reduce -4.9% 2.48% −0.01

Portfolio Buys Q2 2025 → Q3 2025
LLY Eli Lilly & Co. Add +1693.6% 1.00% +0.94
NVDA Nvidia Corp. Add +10.9% 1.31% +0.27
ETN Eaton Corp. PLC Add +31.7% 0.89% +0.22
AWK American Water Works Co. Inc. Add +56.6% 0.50% +0.17
IQV Iqvia Holdings Inc. Add +3.4% 0.94% +0.16
PEP Pepsico Inc. Add +7.7% 0.50% +0.05
KR Kroger Co. Add +35.6% 0.20% +0.04
AZO AutoZone Inc. New 0.04% +0.04
MRSH Marsh & McLennan Cos New 0.04% +0.04
SNPS Synopsys Inc. Add +10.7% 1.16% +0.03
CEG Constellation Energy Add +6.2% 0.69% +0.03
EW Edwards Lifesciences Corp. New 0.03% +0.03
CAT Caterpillar Inc. New 0.03% +0.03
ANET Arista Networks Inc. New 0.03% +0.03
TJX TJX Companies Inc. New 0.02% +0.02
EFA iShares MSCI Eafe ETF New 0.02% +0.02
NYF iShares New York Muni Bond E New 0.02% +0.02
UBER Uber Technologies Inc. Add +89.8% 0.04% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +0.9% 0.39% +0.02
QCOM Qualcomm Inc. Add +0.4% 1.54% +0.01
MA Mastercard Inc. Class A Add +8.2% 0.25% +0.01
WCN Waste Connections Inc. Add +13.8% 0.40% +0.01
EQIX Equinix Inc. Add +6.7% 1.04% +0.01
NXPI NXP Semiconductors NV Add +42.5% 0.04% +0.01
IVE iShares S&P 500 Value ETF Add +12.5% 0.08% +0.01
ADBE Adobe Inc. Add +14.9% 1.07% +0.01
ISHG iShares -3 Year Internationa Add +0.2% 0.11% −0.00
VGIT Vanguard Intermediate-Term T Add +2.3% 0.80% −0.01
VGSH Vanguard Short-Term Treasury Add +0.3% 1.05% −0.04
MSCI MSCI Inc. Add +0.8% 0.77% −0.04
MDLZ Mondelez International Inc. Class A Add +0.9% 0.85% −0.09
FISV Fiserv Inc. Add +12.6% 0.74% −0.17
NOW ServiceNow Inc. Add +1.3% 1.97% −0.29
CRM Salesforce Inc. Add +0.4% 1.53% −0.29

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 170$941.9MGOOGL, AAPL, AMZN, AVGO, IVV
Q1 2026 164$876.9MGOOGL, AAPL, AMZN, AVGO, IVV
Q4 2025 163$941.8MGOOGL, AAPL, AMZN, AVGO, IVV
Q3 2025 166$925.3MAAPL, GOOGL, AMZN, AVGO, IVV
Q2 2025 161$890.3MAMZN, AAPL, GOOGL, AVGO, IVV
Q1 2025 156$856.0MAAPL, AMZN, GOOGL, IVV, V
Q4 2024 158$905.1MAAPL, AMZN, GOOGL, AVGO, IVV
Q3 2024 166$905.0MAAPL, AMZN, GOOGL, IVV, AVGO
Q2 2024 164$860.7MAAPL, AMZN, GOOGL, IVV, MSFT
Q1 2024 167$867.1MAMZN, AAPL, GOOGL, IVV, MSFT