Montag A & Associates Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Montag A & Associates Inc. reported 1,110 stock positions worth $2.2 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 7.3% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 5.4%) and Apple (AAPL, 3.5%). Compared with Q2 2025, it opened 215 new positions, sold out of 41, added to 274 and reduced 238. The biggest buy was Apple (AAPL, shares +1%) and the biggest sale Fiserv (FISV, shares −0%).

Most Recent 13F
Q2 2026
Location
ATLANTA, GA
CIK
0000829407
Portfolio Value
$2.2B (Q3 2025)
SEC Filing
0000829407-25-000006 ↗ filed Nov 12, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.0B Q1 2024 Q2 2024: $2.0B Q2 2024 Q3 2024: $2.1B Q3 2024 Q4 2024: $2.1B Q4 2024 Q1 2025: $2.0B Q1 2025 Q2 2025: $2.0B Q2 2025 Q3 2025: $2.2B $2.2B Q3 2025 Q4 2025: $2.2B Q4 2025 Q1 2026: $2.1B Q1 2026 Q2 2026: $2.4B Q2 2026

Holdings 1,110 stocks · $2.2B
IVV iShares Core S&P 500 ETF 7.30% 236,431 $158.2M Add +0.5%
SPY SS SPDR S&P 500 ETF Trust-US 5.44% 176,468 $117.9M Add +0.9%
AAPL Apple Inc. 3.52% 299,970 $76.4M Add +0.9%
MSFT Microsoft Corp. 3.38% 141,335 $73.2M Add +3.8%
MDY State Street SPDR S&P Midcap 2.90% 105,201 $62.9M Reduce -0.3%
GOOG Alphabet Inc. Class C 2.46% 218,963 $53.3M Reduce -0.5%
AMZN Amazon.com Inc. 2.00% 197,109 $43.3M Add +1.1%
IWB iShares Russell 1000 ETF 1.82% 107,845 $39.4M Add +1.4%
NVDA Nvidia Corp. 1.61% 187,284 $34.9M Add +0.1%
RSP Invesco S&P 500 Equal Weight 1.35% 154,298 $29.3M Add +2.2%
HD Home Depot Inc. 1.23% 65,574 $26.6M Reduce -2.9%
JPM JPMorgan Chase & Co. 1.21% 83,147 $26.2M Reduce -1.8%
IWF iShares Russell 1000 Growth 1.19% 54,905 $25.7M Reduce -1.9%
VIG Vanguard Dividend Apprec ETF 1.15% 115,515 $25.0M Add +0.1%
WMT Walmart Inc. 1.14% 239,833 $24.7M Reduce -1.0%
V Visa Inc. Class A 1.14% 72,161 $24.6M Reduce -0.9%
AVGO Broadcom Inc. 1.13% 74,501 $24.6M Reduce -2.5%
KO The Coca-Cola Co. 1.11% 361,526 $24.2M Add +1.6%
VB Vanguard Most SM-Cap ETF-Usd 1.08% 91,827 $23.4M Reduce -5.2%
GOOGL Alphabet Inc. Class A 1.05% 93,224 $22.7M Reduce -1.9%
VGIT Vanguard Intermediate-Term T 1.01% 364,188 $21.9M Add +19.8%
VOO Vanguard S&P 500 ETF 0.99% 34,861 $21.4M Reduce -10.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.96% 70,435 $20.8M Reduce -1.0%
GS Goldman Sachs Group Inc. 0.92% 25,042 $19.9M Reduce -13.9%
IJH iShares Core S&P Midcap ETF 0.83% 275,590 $18.0M Reduce -6.2%
ABBV Abbvie Inc. 0.81% 75,973 $17.6M Add +0.3%
URI United Rentals Inc. 0.81% 18,376 $17.5M Add +52.7%
FISV Fiserv Inc. 0.81% 135,598 $17.5M Reduce -0.2%
XLK SS Technology Select Sector 0.79% 61,110 $17.2M Reduce -0.1%
LLY Eli Lilly & Co. 0.79% 22,303 $17.0M Reduce -1.5%
IWD iShares Russell 1000 Value E 0.75% 79,802 $16.2M Reduce -2.9%
VGSH Vanguard Short-Term Treasury 0.74% 270,854 $15.9M Reduce -5.2%
JNJ Johnson & Johnson 0.73% 84,820 $15.7M Reduce -3.9%
JPST JPMorgan Ultra-Short Income 0.72% 305,722 $15.5M Reduce -11.8%
MINT PIMCO Enhanced Short Maturit 0.69% 148,816 $15.0M Reduce -14.2%
ABT Abbott Laboratories 0.67% 108,428 $14.5M Reduce -0.4%
TSM Taiwan Semiconductor-SP ADR 0.66% 51,238 $14.4M Reduce -3.2%
SHY iShares 1-3 Year Treasury Bo 0.65% 169,579 $14.1M Reduce -0.0%
INTU Intuit Inc. 0.63% 19,867 $13.6M Add +8.7%
SYK Stryker Corp. 0.62% 36,204 $13.4M Reduce -2.1%
COST Costco Wholesale Corp. 0.60% 14,106 $13.1M Reduce -9.9%
EFX Equifax Inc. 0.60% 50,427 $12.9M Add +0.5%
VCSH Vanguard S/T Corp. Bond ETF 0.58% 157,029 $12.6M Reduce -5.1%
MRK Merck & Co. Inc. 0.56% 143,680 $12.2M Reduce -4.2%
PEP Pepsico Inc. 0.56% 85,893 $12.1M Add +1.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.55% 83,185 $12.0M Reduce -0.1%
MA Mastercard Inc. Class A 0.55% 21,115 $12.0M Reduce -2.1%
PH Parker Hannifin Corp. 0.54% 15,513 $11.8M Reduce -0.9%
MAR Marriott International Class A 0.53% 44,453 $11.6M Add +2.2%
ADBE Adobe Inc. 0.53% 32,280 $11.4M Reduce -1.2%
BRK.B Berkshire Hathaway Inc. Class B 0.51% 21,971 $11.0M Add +0.7%
MS Morgan Stanley 0.49% 66,524 $10.6M Reduce -0.3%
UBER Uber Technologies Inc. 0.49% 107,840 $10.6M Add +16.1%
CPRT Copart Inc. 0.48% 231,238 $10.4M Reduce -0.2%
ADI Analog Devices Inc. 0.47% 41,848 $10.3M Reduce -1.2%
XOM Exxon Mobil Corp. 0.46% 88,679 $10.0M Reduce -2.9%
META Meta Platforms Inc. Class A 0.45% 13,225 $9.7M Reduce -0.7%
CBRE CBRE Group Inc. Class A 0.43% 59,167 $9.3M Add +16.2%
AME Ametek Inc. 0.43% 49,218 $9.3M Add +0.8%
NFLX Netflix Inc. 0.43% 7,694 $9.2M Reduce -2.4%
AMAT Applied Materials Inc. 0.42% 44,956 $9.2M Reduce -2.7%
PG The Procter & Gamble Co. 0.42% 58,688 $9.0M Reduce -3.2%
CSCO Cisco Systems Inc. 0.41% 129,061 $8.8M Add +0.5%
ICE Intercontinental Exchange Inc. 0.40% 51,998 $8.8M Reduce -2.6%
BRK.A Berkshire Hathaway Inc. Class A 0.38% 11 $8.3M No change
BA The Boeing Co. 0.37% 37,587 $8.1M Add +7.9%
ORCL Oracle Corp. 0.36% 27,582 $7.8M Add +9.0%
CAT Caterpillar Inc. 0.35% 16,047 $7.7M Add +3.2%
GPC Genuine Parts Co. 0.33% 51,442 $7.2M Reduce -3.3%
CVX Chevron Corp. 0.33% 46,019 $7.1M Reduce -2.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.33% 136,525 $7.0M Add +0.1%
MCD McDonald's Corp. 0.32% 23,139 $7.0M Reduce -2.6%
LRCX Lam Research Corp. 0.32% 51,644 $6.9M Add +1.7%
AXP American Express Co. 0.30% 19,797 $6.6M Reduce -0.8%
IWM iShares Russell 2000 ETF 0.30% 27,131 $6.6M Reduce -9.8%
KRE SS SPDR S&P Regional Bank 0.30% 102,749 $6.5M Reduce -0.5%
MKL Markel Group Inc. 0.30% 3,386 $6.5M Reduce -0.5%
BKNG Booking Holdings Inc. 0.29% 1,163 $6.3M Add +33.5%
GLD SPDR Gold Shares 0.29% 17,583 $6.3M Add +2.3%
VMC Vulcan Materials Co. 0.29% 20,296 $6.2M No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.29% 80,687 $6.2M Reduce -2.3%
DE Deere & Co. 0.28% 13,422 $6.2M Reduce -5.4%
ISRG Intuitive Surgical Inc. 0.28% 13,441 $6.0M Reduce -14.5%
AMD Advanced Micro Devices 0.27% 35,560 $5.8M Add +48.9%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.26% 12,200 $5.7M No change
NDAQ Nasdaq Inc. 0.26% 64,131 $5.7M Add +2.6%
MGC Vngrd Mrngstr MG Cap ETF-Usd 0.26% 22,960 $5.6M No change
MU Micron Technology Inc. 0.26% 33,187 $5.6M Add +30.3%
WFC Wells Fargo & Co. 0.25% 64,153 $5.4M Add +0.1%
APH Amphenol Corp. Class A 0.24% 42,452 $5.3M Reduce -47.6%
PAVE Global X US Infrastructure 0.24% 110,030 $5.2M Reduce -2.0%
IJR iShares Core S&P Small-Cap E 0.24% 43,990 $5.2M Reduce -16.8%
NEE Nextera Energy Inc. 0.24% 69,159 $5.2M Reduce -25.6%
SPHQ Invesco S&P 500 Quality ETF 0.24% 69,910 $5.1M Add +3.3%
AZO AutoZone Inc. 0.24% 1,188 $5.1M No change
QQQ Invesco QQQ Trust Series 1 0.23% 8,469 $5.1M Add +13.7%
CASY Casey's General Stores Inc. 0.23% 8,950 $5.1M Reduce -0.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.23% 17,738 $5.0M Reduce -0.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.23% 10,363 $5.0M Add +1.0%
CTAS Cintas Corp. 0.23% 24,042 $4.9M Reduce -0.8%

Show all 1,110 holdings

Options reported separately and not counted above: AVGO calls ($429K), NVDA calls ($336K), ANET calls ($248K), AMD calls ($210K), META calls ($147K).

Other holdings (4): bonds, preferreds, convertibles and warrants · $5.6M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 2,590$3.3MReduce -6.1%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 1,854$2.3MNo change
EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) PFD CV TR SEC 28 150$7KNo change
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 235$6KNo change
Lines left out (1) · $4 — a value with no share or principal amount
SecurityClassSharesValue
AL Sumisho Air Lease Corp. CL A0$4

Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.

Total filed on the 13F, all lines: $2.2B.

Portfolio Sells Q2 2025 → Q3 2025
FISV Fiserv Inc. Reduce -0.2% 0.81% −0.34
CRM Salesforce Inc. Reduce -87.7% 0.03% −0.26
ESS Essex Property Trust Inc. Reduce -99.5% 0.00% −0.17
ZM Zoom Communications Inc. Sold out 0.00% −0.17
MINT PIMCO Enhanced Short Maturit Reduce -14.2% 0.69% −0.16
COST Costco Wholesale Corp. Reduce -9.9% 0.60% −0.15
APH Amphenol Corp. Class A Reduce -47.6% 0.24% −0.15
JPST JPMorgan Ultra-Short Income Reduce -11.8% 0.72% −0.14
ISRG Intuitive Surgical Inc. Reduce -14.5% 0.28% −0.14
V Visa Inc. Class A Reduce -0.9% 1.14% −0.13
SYK Stryker Corp. Reduce -2.1% 0.62% −0.10
VOO Vanguard S&P 500 ETF Reduce -10.2% 0.99% −0.09
ADBE Adobe Inc. Reduce -1.2% 0.53% −0.09
NFLX Netflix Inc. Reduce -2.4% 0.43% −0.09
GS Goldman Sachs Group Inc. Reduce -13.9% 0.92% −0.09
VGSH Vanguard Short-Term Treasury Reduce -5.2% 0.74% −0.08
LLY Eli Lilly & Co. Reduce -1.5% 0.79% −0.08
CPRT Copart Inc. Reduce -0.2% 0.48% −0.08
ICE Intercontinental Exchange Inc. Reduce -2.6% 0.40% −0.07
NEE Nextera Energy Inc. Reduce -25.6% 0.24% −0.07
DOCU Docusign Inc. Sold out 0.00% −0.07
DE Deere & Co. Reduce -5.4% 0.28% −0.07
VCSH Vanguard S/T Corp. Bond ETF Reduce -5.1% 0.58% −0.06
IJH iShares Core S&P Midcap ETF Reduce -6.2% 0.83% −0.06
TMO Thermo Fisher Scientific Inc. Reduce -31.4% 0.20% −0.06
PG The Procter & Gamble Co. Reduce -3.2% 0.42% −0.06
ABT Abbott Laboratories Reduce -0.4% 0.67% −0.05
EBAY eBay Inc. Reduce -32.1% 0.19% −0.05
RBLX Roblox Corp. Class A Reduce -47.6% 0.09% −0.05
VB Vanguard Most SM-Cap ETF-Usd Reduce -5.2% 1.08% −0.04
IJR iShares Core S&P Small-Cap E Reduce -16.8% 0.24% −0.04
MA Mastercard Inc. Class A Reduce -2.1% 0.55% −0.04
SHY iShares 1-3 Year Treasury Bo Reduce -0.0% 0.65% −0.04
CTAS Cintas Corp. Reduce -0.8% 0.23% −0.04
BSCP Invesco Bulletshares 2025 CB Reduce -24.3% 0.09% −0.03
TDW Tidewater Inc. Reduce -99.2% 0.00% −0.03
MKL Markel Group Inc. Reduce -0.5% 0.30% −0.03
META Meta Platforms Inc. Class A Reduce -0.7% 0.45% −0.03
NVO Novo-Nordisk A/S-Spons ADR Reduce -98.6% 0.00% −0.03
IWD iShares Russell 1000 Value E Reduce -2.9% 0.75% −0.03
MDY State Street SPDR S&P Midcap Reduce -0.3% 2.90% −0.03
SCHW Schwab (charles) Corp. Reduce -10.5% 0.21% −0.03
EMR Emerson Electric Co. Reduce -4.8% 0.19% −0.03
IBM Intl Business Machines Corp. Reduce -0.2% 0.23% −0.03
MRK Merck & Co. Inc. Reduce -4.2% 0.56% −0.02
COF Capital One Financial Corp. Reduce -4.8% 0.18% −0.02
PM Philip Morris International Reduce -1.4% 0.10% −0.02
XOM Exxon Mobil Corp. Reduce -2.9% 0.46% −0.02
TGT Target Corp. Reduce -44.6% 0.02% −0.02
MSCI MSCI Inc. Reduce -33.7% 0.03% −0.02

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +0.9% 3.52% +0.54
URI United Rentals Inc. Add +52.7% 0.81% +0.37
NVDA Nvidia Corp. Add +0.1% 1.61% +0.17
IVV iShares Core S&P 500 ETF Add +0.5% 7.30% +0.17
SPY SS SPDR S&P 500 ETF Trust-US Add +0.9% 5.44% +0.15
ABBV Abbvie Inc. Add +0.3% 0.81% +0.12
CDNS Cadence Design SYS Inc. Add +525.0% 0.14% +0.12
VGIT Vanguard Intermediate-Term T Add +19.8% 1.01% +0.12
MU Micron Technology Inc. Add +30.3% 0.26% +0.10
AMD Advanced Micro Devices Add +48.9% 0.27% +0.10
ETN Eaton Corp. PLC Add +92.0% 0.19% +0.09
ORCL Oracle Corp. Add +9.0% 0.36% +0.09
CBRE CBRE Group Inc. Class A Add +16.2% 0.43% +0.08
LRCX Lam Research Corp. Add +1.7% 0.32% +0.08
EWP iShares MSCI Spain ETF Add +119.0% 0.13% +0.07
EWI iShares MSCI Italy ETF Add +119.5% 0.12% +0.07
EWU iShares MSCI United Kingdom Add +125.1% 0.12% +0.07
MSFT Microsoft Corp. Add +3.8% 3.38% +0.07
ITB iShares U.S. Home Constructi Add +99.5% 0.12% +0.06
UBER Uber Technologies Inc. Add +16.1% 0.49% +0.06
EWG iShares MSCI Germany ETF Add +119.7% 0.12% +0.06
CAT Caterpillar Inc. Add +3.2% 0.35% +0.06
LEN Lennar Corp. Class A Add +1914.5% 0.06% +0.06
TOL Toll Brothers Inc. New 0.06% +0.06
DHI D.R. Horton Inc. New 0.05% +0.05
IWB iShares Russell 1000 ETF Add +1.4% 1.82% +0.05
ULTA Ulta Beauty Inc. Add +43.4% 0.13% +0.05
BKNG Booking Holdings Inc. Add +33.5% 0.29% +0.04
ANET Arista Networks Inc. Add +6.4% 0.14% +0.04
OEF iShares S&P 100 ETF Add +34.5% 0.14% +0.04
QQQ Invesco QQQ Trust Series 1 Add +13.7% 0.23% +0.03
GLD SPDR Gold Shares Add +2.3% 0.29% +0.03
BSCS Invesco Bulletshares 2028 CB Add +236.5% 0.04% +0.03
SPOT Spotify Technology SA Add +62.8% 0.09% +0.03
KTOS Kratos Defense & Security Add +0.1% 0.05% +0.02
BSCT Invesco Bulletshares 2029 CB Add +643.1% 0.03% +0.02
SHOP Shopify Inc. Class A Add +1.4% 0.12% +0.02
MRVL Marvell Technology Inc. Add +8.8% 0.21% +0.02
BLD Topbuild Corp. Add +26.0% 0.07% +0.02
RTX RTX Corp. Add +5.4% 0.17% +0.02
VFH Vanguard Financials ETF Add +88.8% 0.04% +0.02
BX Blackstone Inc. Add +4.9% 0.15% +0.02
BA The Boeing Co. Add +7.9% 0.37% +0.02
WTW Willis Towers Watson PLC Add +3.2% 0.14% +0.01
RIO Rio Tinto PLC-Spon ADR Add +0.0% 0.19% +0.01
BNDX Vanguard Total Intl Bond ETF Add +24936.4% 0.01% +0.01
QXO Qxo Inc. New 0.01% +0.01
PEP Pepsico Inc. Add +1.7% 0.56% +0.01
BLK BlackRock Inc. Add +23.3% 0.05% +0.01
GGG Graco Inc. Add +19.6% 0.11% +0.01

Options Activity Q2 2025 → Q3 2025
NVDA Nvidia Corp. call New 1,800 $336K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2025 → Q3 2025
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -6.1% 2,590 $3.3M
CNQ Canadian Natural Resources COM Sold out 0 $753before exit
DOX Amdocs Ltd. SHS Sold out 0 $280before exit
ASO Academy Sports & Outdoors Inc. COM Sold out 0 $17before exit
AL Sumisho Air Lease Corp. CL A Reduce -100.0% 0 $4
HTZ Hertz Global Hldgs Inc. COM NEW Sold out 0 $2before exit
ICL Icl Group Ltd. SHS Sold out 0 $2before exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 949$2.4BIVV, SPY, AAPL, MDY, GOOG
Q1 2026 928$2.1BIVV, SPY, AAPL, MDY, GOOG
Q4 2025 945$2.2BIVV, SPY, AAPL, MSFT, GOOG
Q3 2025 1,110$2.2BIVV, SPY, AAPL, MSFT, MDY
Q2 2025 936$2.0BIVV, SPY, MSFT, AAPL, MDY
Q1 2025 986$2.0BIVV, SPY, AAPL, MDY, MSFT
Q4 2024 988$2.1BIVV, SPY, AAPL, MDY, MSFT
Q3 2024 1,019$2.1BIVV, SPY, AAPL, MDY, MSFT
Q2 2024 974$2.0BIVV, SPY, MSFT, AAPL, MDY
Q1 2024 959$2.0BSPY, IVV, MSFT, MDY, AAPL