Morgan Dempsey Capital Management LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Morgan Dempsey Capital Management LLC reported 110 stock positions worth $239.8 million. Its top holding was AT&T (T) at 4.4% of the portfolio, followed by Philip Morris International (PM, 3.9%) and Exxon Mobil (XOM, 3.9%). Compared with Q4 2024, it opened 10 new positions, sold out of 4, added to 18 and reduced 58. The biggest buy was a new position in Wells Fargo (WFC) and the biggest sale Morgan Dempsey LC Value ETF (MDLV, shares −87%).

Most Recent 13F
Q2 2026
Location
MILWAUKEE, WI
CIK
0001050463
Portfolio Value
$239.8M (Q1 2025)
SEC Filing
0001941040-25-000283 ↗ filed May 12, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $312.3M Q1 2024 Q2 2024: $299.6M Q2 2024 Q3 2024: $291.1M Q3 2024 Q4 2024: $248.5M Q4 2024 Q1 2025: $239.8M $239.8M Q1 2025 Q2 2025: $239.3M Q2 2025 Q3 2025: $224.9M Q3 2025 Q4 2025: $205.2M Q4 2025 Q1 2026: $219.4M Q1 2026 Q2 2026: $233.4M Q2 2026

Holdings 110 stocks · $239.8M
T AT&T Inc. 4.40% 372,765 $10.5M Reduce -10.0%
PM Philip Morris International 3.94% 58,943 $9.4M Reduce -10.1%
XOM Exxon Mobil Corp. 3.87% 78,045 $9.3M Reduce -9.8%
WEC WEC Energy Group Inc. 3.71% 81,581 $8.9M Reduce -9.9%
C Citigroup Inc. 3.60% 121,529 $8.6M Reduce -10.0%
CVX Chevron Corp. 3.42% 48,997 $8.2M Reduce -8.9%
CSCO Cisco Systems Inc. 3.38% 131,372 $8.1M Reduce -10.0%
ETR Entergy Corp. 3.36% 94,369 $8.1M Reduce -26.9%
PBA Pembina Pipeline Corp. 3.14% 188,257 $7.5M Reduce -9.7%
KO The Coca-Cola Co. 3.12% 103,734 $7.5M Reduce -9.9%
MDT Medtronic PLC 2.93% 77,633 $7.0M Reduce -8.3%
VZ Verizon Communications Inc. 2.92% 154,472 $7.0M Reduce -8.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.87% 27,668 $6.9M Reduce -29.0%
CMI Cummins Inc. 2.85% 21,793 $6.8M Reduce -10.3%
LMT Lockheed Martin Corp. 2.82% 15,152 $6.8M Reduce -9.1%
CCI Crown Castle Inc. 2.80% 64,417 $6.7M Add +0.7%
BIL SS SPDR BB 1-3M T-Bill ETF 2.75% 71,909 $6.6M Reduce -9.1%
PRU Prudential Financial Inc. 2.75% 58,969 $6.6M Reduce -10.1%
DUK Duke Energy Corp. 2.68% 52,670 $6.4M Reduce -9.9%
GD General Dynamics Corp. 2.63% 23,123 $6.3M Reduce -9.4%
SO The Southern Co. 2.54% 66,223 $6.1M Reduce -9.7%
ES Eversource Energy 2.41% 92,965 $5.8M Reduce -0.6%
JNJ Johnson & Johnson 2.31% 33,464 $5.5M Reduce -3.4%
WFC Wells Fargo & Co. 2.21% 73,643 $5.3M New
MAIN Main Street Capital Corp. 2.18% 92,204 $5.2M Reduce -9.6%
MRK Merck & Co. Inc. 2.15% 57,056 $5.2M Reduce -6.7%
KHC The Kraft Heinz Co. 2.15% 169,428 $5.2M Add +7.0%
UPS United Parcel Service Class B 2.12% 46,195 $5.1M Add +3.9%
LYB Lyondellbasell Indu Class A 2.09% 71,108 $5.0M Add +12.6%
PFE Pfizer Inc. 2.08% 196,417 $5.0M Add +7.3%
GIS General Mills Inc. 1.99% 79,701 $4.8M Reduce -7.9%
PG The Procter & Gamble Co. 1.99% 27,959 $4.8M Reduce -10.5%
SBUX Starbucks Corp. 1.76% 42,929 $4.2M Reduce -9.5%
MCD McDonald's Corp. 1.73% 13,251 $4.1M Reduce -8.8%
VOYA Voya Financial Inc. 1.45% 51,388 $3.5M New
RIO Rio Tinto PLC-Spon ADR 1.43% 54,961 $3.4M Reduce -4.4%
ARE Alexandria Real Estate Equit 1.29% 32,882 $3.1M Reduce -4.9%
MDLV Morgan Dempsey LC Value ETF 0.24% 21,500 $584K Reduce -86.8%
EGY Vaalco Energy Inc. 0.11% 71,925 $270K Reduce -21.6%
DAC Danaos Corp. 0.10% 3,221 $251K Reduce -29.4%
NULV Nuveen ESG Large-Cap Val ETF 0.09% 5,559 $225K Add +18.7%
UFPT Ufp Technologies Inc. 0.08% 948 $191K Reduce -29.5%
RSP Invesco S&P 500 Equal Weight 0.08% 1,054 $183K Reduce -31.4%
ESP Espey MFG & Electronics Corp. 0.07% 6,307 $171K Reduce -37.7%
HWKN Hawkins Inc. 0.06% 1,374 $146K Reduce -29.5%
XLP SS Consumer Staples Sel Sect 0.06% 1,706 $139K Reduce -14.1%
BKTI BK Technologies Corp. 0.06% 3,570 $136K Reduce -72.0%
SENEA Seneca Foods Corp. Class A 0.06% 1,521 $135K Reduce -29.3%
UCTT Ultra Clean Holdings Inc. 0.05% 6,060 $130K Reduce -21.7%
CGCB Cap Group Core Bond 0.05% 4,855 $128K Add +109.5%
SPNS Sapiens International Corp. 0.05% 4,680 $126K Reduce -29.5%
KEQU Kewaunee Scientific CP 0.05% 2,982 $125K Add +73.4%
TATT Tat Technologies Ltd. 0.05% 4,206 $114K Add +4.9%
HG Hamilton Insurance Grou Class B 0.05% 5,452 $112K Reduce -29.5%
KE Kimball Electronics Inc. 0.05% 6,688 $111K Reduce -29.4%
IWD iShares Russell 1000 Value E 0.05% 592 $111K Reduce -64.7%
MCRI Monarch Casino & Resort Inc. 0.05% 1,393 $108K Reduce -29.5%
DIAL Columbia Divers Fix Inc. ETF 0.05% 6,046 $108K Add +113.7%
MYRG MYR Group Inc./Delaware 0.04% 929 $105K Reduce -29.5%
VLGEA Village Super Market Class A 0.04% 2,618 $99K New
LLY Eli Lilly & Co. 0.04% 112 $92K Add +0.9%
BIPC Brookfield Infrastructure-A 0.04% 2,347 $85K Add +29.4%
OUSM Alps Oshares US Small-Cap Qu 0.03% 1,966 $83K Add +446.1%
COHU Cohu Inc. 0.03% 5,368 $81K Reduce -29.4%
TRNS Transcat Inc. 0.03% 954 $75K Reduce -29.4%
DVY iShares Select Dividend ETF 0.03% 521 $70K Reduce -97.5%
ATNI Atn International Inc. 0.03% 3,509 $70K New
AAPL Apple Inc. 0.03% 305 $68K Reduce -7.6%
AM Antero Midstream Corp. 0.03% 3,475 $63K Reduce -41.4%
MSFT Microsoft Corp. 0.03% 165 $62K Reduce -8.3%
GRW TCW Durable Growth ETF 0.03% 1,816 $60K Add +169.0%
CAT Caterpillar Inc. 0.02% 180 $59K Reduce -10.0%
V Visa Inc. Class A 0.02% 140 $49K Reduce -12.5%
ELMD Electromed Inc. 0.02% 1,762 $43K Reduce -29.5%
FBTC Fidelity Wise Origin Bitcoin 0.02% 602 $43K Add +9.1%
GILD Gilead Sciences Inc. 0.02% 350 $39K No change
SPIP SS SPDR P Tips ETF 0.02% 1,438 $38K Add +46.3%
PSX Phillips 66 0.02% 301 $37K Reduce -27.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.01% 800 $33K No change
ENB Enbridge Inc. 0.01% 738 $33K No change
HAS Hasbro Inc. 0.01% 499 $31K No change
LSEQ Harbor Long-Short Equity ETF 0.01% 1,051 $30K New
IGF iShares Global Infrastructur 0.01% 439 $24K New
COM Direxion Auspice BRD Cmdty 0.01% 719 $21K New
IEF iShares 7-10 Year Treasury B 0.01% 172 $16K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 122 $15K No change
HON Honeywell International Inc. 0.01% 62 $13K No change
HEI Heico Corp. 0.01% 47 $13K No change
EMR Emerson Electric Co. 0.00% 105 $12K No change
MPWR Monolithic Power Systems Inc. 0.00% 19 $11K No change
MDLZ Mondelez International Inc. Class A 0.00% 154 $11K No change
COST Costco Wholesale Corp. 0.00% 11 $10K No change
ORCL Oracle Corp. 0.00% 72 $10K No change
ICE Intercontinental Exchange Inc. 0.00% 50 $9K No change
NEE Nextera Energy Inc. 0.00% 116 $8K No change
PEP Pepsico Inc. 0.00% 54 $8K No change
ABT Abbott Laboratories 0.00% 61 $8K No change
MARA Mara Holdings Inc. 0.00% 700 $8K No change
SGOV iShares 0-3 Month Treasury B 0.00% 76 $8K Reduce -1.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.00% 12 $7K New
CI The Cigna Group 0.00% 20 $7K No change
TGT Target Corp. 0.00% 57 $6K No change
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.00% 102 $5K Add +168.4%
TMO Thermo Fisher Scientific Inc. 0.00% 10 $5K No change
JEPI JPMorgan Equity Premium Inco 0.00% 67 $4K Add +272.2%
IWF iShares Russell 1000 Growth 0.00% 9 $3K New
WST West Pharmaceutical Services 0.00% 14 $3K No change
MFSI MFS Active International 0.00% 113 $3K New
PESI Perma-Fix Environmental SVCS 0.00% 1 $7 No change
IDN Intellicheck Inc. 0.00% 1 $2 No change

Options reported separately and not counted above: GD calls ($27K), XOM calls ($24K), WEC calls ($22K), T calls ($20K), ETR calls ($17K), CVX calls ($17K), JNJ calls ($17K), PM calls ($16K), KO calls ($14K), C calls ($14K), VZ calls ($14K), CSCO calls ($12K), and 15 more.

Portfolio Sells Q4 2024 → Q1 2025
MDLV Morgan Dempsey LC Value ETF Reduce -86.8% 0.24% −1.44
DVY iShares Select Dividend ETF Reduce -97.5% 0.03% −1.08
HSY The Hershey Co. Sold out 0.00% −0.94
IBM Intl Business Machines Corp. Reduce -29.0% 2.87% −0.58
ETR Entergy Corp. Reduce -26.9% 3.36% −0.57
CMI Cummins Inc. Reduce -10.3% 2.85% −0.56
LMT Lockheed Martin Corp. Reduce -9.1% 2.82% −0.44
PRU Prudential Financial Inc. Reduce -10.1% 2.75% −0.38
MRK Merck & Co. Inc. Reduce -6.7% 2.15% −0.31
MAIN Main Street Capital Corp. Reduce -9.6% 2.18% −0.24
GIS General Mills Inc. Reduce -7.9% 1.99% −0.23
C Citigroup Inc. Reduce -10.0% 3.60% −0.23
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -9.1% 2.75% −0.16
PG The Procter & Gamble Co. Reduce -10.5% 1.99% −0.12
BKTI BK Technologies Corp. Reduce -72.0% 0.06% −0.12
CSCO Cisco Systems Inc. Reduce -10.0% 3.38% −0.10
ARE Alexandria Real Estate Equit Reduce -4.9% 1.29% −0.09
IWD iShares Russell 1000 Value E Reduce -64.7% 0.05% −0.08
GD General Dynamics Corp. Reduce -9.4% 2.63% −0.08
UCTT Ultra Clean Holdings Inc. Reduce -21.7% 0.05% −0.06
UFPT Ufp Technologies Inc. Reduce -29.5% 0.08% −0.05
ESP Espey MFG & Electronics Corp. Reduce -37.7% 0.07% −0.05
EGY Vaalco Energy Inc. Reduce -21.6% 0.11% −0.05
COHU Cohu Inc. Reduce -29.4% 0.03% −0.05
DAC Danaos Corp. Reduce -29.4% 0.10% −0.04
HWKN Hawkins Inc. Reduce -29.5% 0.06% −0.04
MYRG MYR Group Inc./Delaware Reduce -29.5% 0.04% −0.04
AGG iShares Core U.S. Aggregate Sold out 0.00% −0.03
RSP Invesco S&P 500 Equal Weight Reduce -31.4% 0.08% −0.03
TRNS Transcat Inc. Reduce -29.4% 0.03% −0.03
KE Kimball Electronics Inc. Reduce -29.4% 0.05% −0.02
SPNS Sapiens International Corp. Reduce -29.5% 0.05% −0.02
IBIT iShares Bitcoin Trust ETF Sold out 0.00% −0.02
BITB Bitwise Bitcoin ETF Sold out 0.00% −0.02
MCRI Monarch Casino & Resort Inc. Reduce -29.5% 0.05% −0.02
HG Hamilton Insurance Grou Class B Reduce -29.5% 0.05% −0.01
SENEA Seneca Foods Corp. Class A Reduce -29.3% 0.06% −0.01
ELMD Electromed Inc. Reduce -29.5% 0.02% −0.01
AM Antero Midstream Corp. Reduce -41.4% 0.03% −0.01
AAPL Apple Inc. Reduce -7.6% 0.03% −0.01
MSFT Microsoft Corp. Reduce -8.3% 0.03% −0.00
XLP SS Consumer Staples Sel Sect Reduce -14.1% 0.06% −0.00
CAT Caterpillar Inc. Reduce -10.0% 0.02% −0.00
PSX Phillips 66 Reduce -27.5% 0.02% −0.00
SGOV iShares 0-3 Month Treasury B Reduce -1.3% 0.00% +0.00
SBUX Starbucks Corp. Reduce -9.5% 1.76% +0.01
V Visa Inc. Class A Reduce -12.5% 0.02% +0.02
MCD McDonald's Corp. Reduce -8.8% 1.73% +0.03
PBA Pembina Pipeline Corp. Reduce -9.7% 3.14% +0.04
RIO Rio Tinto PLC-Spon ADR Reduce -4.4% 1.43% +0.07

Portfolio Buys Q4 2024 → Q1 2025
WFC Wells Fargo & Co. New 2.21% +2.21
VOYA Voya Financial Inc. New 1.45% +1.45
CCI Crown Castle Inc. Add +0.7% 2.80% +0.47
LYB Lyondellbasell Indu Class A Add +12.6% 2.09% +0.20
KHC The Kraft Heinz Co. Add +7.0% 2.15% +0.19
PFE Pfizer Inc. Add +7.3% 2.08% +0.12
VLGEA Village Super Market Class A New 0.04% +0.04
ATNI Atn International Inc. New 0.03% +0.03
CGCB Cap Group Core Bond Add +109.5% 0.05% +0.03
OUSM Alps Oshares US Small-Cap Qu Add +446.1% 0.03% +0.03
DIAL Columbia Divers Fix Inc. ETF Add +113.7% 0.05% +0.03
NULV Nuveen ESG Large-Cap Val ETF Add +18.7% 0.09% +0.02
GRW TCW Durable Growth ETF Add +169.0% 0.03% +0.02
LSEQ Harbor Long-Short Equity ETF New 0.01% +0.01
IGF iShares Global Infrastructur New 0.01% +0.01
KEQU Kewaunee Scientific CP Add +73.4% 0.05% +0.01
COM Direxion Auspice BRD Cmdty New 0.01% +0.01
BIPC Brookfield Infrastructure-A Add +29.4% 0.04% +0.01
TATT Tat Technologies Ltd. Add +4.9% 0.05% +0.01
SPIP SS SPDR P Tips ETF Add +46.3% 0.02% +0.01
LLY Eli Lilly & Co. Add +0.9% 0.04% +0.00
SPY SS SPDR S&P 500 ETF Trust-US New 0.00% +0.00
IWF iShares Russell 1000 Growth New 0.00% +0.00
JEPQ JPM Nasdaq Equity Premium Add +168.4% 0.00% +0.00
JEPI JPMorgan Equity Premium Inco Add +272.2% 0.00% +0.00
MFSI MFS Active International New 0.00% +0.00
FBTC Fidelity Wise Origin Bitcoin Add +9.1% 0.02% 0.00
UPS United Parcel Service Class B Add +3.9% 2.12% −0.14

Options Activity Q4 2024 → Q1 2025
XOM Exxon Mobil Corp. call Add +100.0% 200 $24K
JNJ Johnson & Johnson call New 100 $17K
KO The Coca-Cola Co. call New 200 $14K
GIS General Mills Inc. call New 200 $12K
PBA Pembina Pipeline Corp. call Sold out 300 $11Kbefore exit
MDT Medtronic PLC call New 100 $9K
WFC Wells Fargo & Co. call New 100 $7K
VOYA Voya Financial Inc. call New 100 $7K
ES Eversource Energy call New 100 $6K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 122$233.4MBIL, C, CMI, ETR, CSCO
Q1 2026 123$219.4MXOM, C, T, ETR, CSCO
Q4 2025 125$205.2MC, CSCO, XOM, T, CMI
Q3 2025 131$224.9MC, T, WEC, CSCO, ETR
Q2 2025 129$239.3MT, C, CSCO, WEC, XOM
Q1 2025 110$239.8MT, PM, XOM, WEC, C
Q4 2024 104$248.5METR, C, T, XOM, CSCO
Q3 2024 99$291.1MIBM, XOM, LMT, T, WEC
Q2 2024 86$299.6MXOM, IBM, C, T, MRK
Q1 2024 85$312.3MPSX, XOM, IBM, C, MRK