Morgan Dempsey Capital Management LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Morgan Dempsey Capital Management LLC reported 129 stock positions worth $239.3 million. Its top holding was AT&T (T) at 4.4% of the portfolio, followed by Citigroup (C, 4.3%) and Cisco Systems (CSCO, 3.8%). Compared with Q1 2025, it opened 21 new positions, sold out of 2, added to 35 and reduced 47. The biggest buy was a new position in Oneok (OKE) and the biggest sale Philip Morris International (PM, shares −35%).

Most Recent 13F
Q2 2026
Location
MILWAUKEE, WI
CIK
0001050463
Portfolio Value
$239.3M (Q2 2025)
SEC Filing
0001941040-25-000372 ↗ filed Jul 29, 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 Q1 2025 Q2 2025: $239.3M $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 129 stocks · $239.3M
T AT&T Inc. 4.45% 367,544 $10.6M Reduce -1.4%
C Citigroup Inc. 4.27% 119,950 $10.2M Reduce -1.3%
CSCO Cisco Systems Inc. 3.76% 129,557 $9.0M Reduce -1.4%
WEC WEC Energy Group Inc. 3.51% 80,629 $8.4M Reduce -1.2%
XOM Exxon Mobil Corp. 3.48% 77,133 $8.3M Reduce -1.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 3.36% 27,271 $8.0M Reduce -1.4%
ETR Entergy Corp. 3.25% 93,437 $7.8M Reduce -1.0%
WFC Wells Fargo & Co. 3.09% 92,304 $7.4M Add +25.3%
KO The Coca-Cola Co. 3.05% 102,382 $7.3M Reduce -1.3%
CMI Cummins Inc. 2.93% 21,434 $7.0M Reduce -1.6%
PM Philip Morris International 2.92% 38,035 $7.0M Reduce -35.5%
LMT Lockheed Martin Corp. 2.91% 15,051 $7.0M Reduce -0.7%
PBA Pembina Pipeline Corp. 2.91% 185,719 $7.0M Reduce -1.4%
CVX Chevron Corp. 2.89% 48,267 $6.9M Reduce -1.5%
MDT Medtronic PLC 2.82% 76,792 $6.7M Reduce -1.1%
GD General Dynamics Corp. 2.80% 22,935 $6.7M Reduce -0.8%
VZ Verizon Communications Inc. 2.75% 152,123 $6.6M Reduce -1.5%
CCI Crown Castle Inc. 2.73% 63,586 $6.5M Reduce -1.3%
BIL SS SPDR BB 1-3M T-Bill ETF 2.68% 69,802 $6.4M Reduce -2.9%
PRU Prudential Financial Inc. 2.61% 58,186 $6.3M Reduce -1.3%
DUK Duke Energy Corp. 2.57% 52,068 $6.1M Reduce -1.1%
SO The Southern Co. 2.51% 65,415 $6.0M Reduce -1.2%
ES Eversource Energy 2.44% 91,953 $5.9M Reduce -1.1%
MAIN Main Street Capital Corp. 2.26% 91,517 $5.4M Reduce -0.8%
JNJ Johnson & Johnson 2.11% 33,044 $5.0M Reduce -1.3%
PFE Pfizer Inc. 1.97% 194,271 $4.7M Reduce -1.1%
UPS United Parcel Service Class B 1.93% 45,768 $4.6M Reduce -0.9%
MRK Merck & Co. Inc. 1.88% 56,136 $4.5M Reduce -1.6%
PG The Procter & Gamble Co. 1.83% 27,464 $4.4M Reduce -1.8%
KHC The Kraft Heinz Co. 1.80% 166,503 $4.3M Reduce -1.7%
LYB Lyondellbasell Indu Class A 1.71% 70,596 $4.1M Reduce -0.7%
GIS General Mills Inc. 1.70% 78,481 $4.1M Reduce -1.5%
SBUX Starbucks Corp. 1.62% 42,342 $3.9M Reduce -1.4%
MCD McDonald's Corp. 1.61% 13,224 $3.9M Reduce -0.2%
VOYA Voya Financial Inc. 1.52% 51,249 $3.6M Reduce -0.3%
OKE Oneok Inc. 1.46% 42,843 $3.5M New
RIO Rio Tinto PLC-Spon ADR 1.32% 54,270 $3.2M Reduce -1.3%
ARE Alexandria Real Estate Equit 1.00% 32,472 $2.4M Reduce -1.3%
MDLV Morgan Dempsey LC Value ETF 0.22% 19,247 $519K Reduce -10.5%
ESP Espey MFG & Electronics Corp. 0.17% 8,945 $409K Add +41.8%
DAC Danaos Corp. 0.16% 4,564 $394K Add +41.7%
EGY Vaalco Energy Inc. 0.15% 100,999 $365K Add +40.4%
UFPT Ufp Technologies Inc. 0.14% 1,344 $328K Add +41.8%
HWKN Hawkins Inc. 0.12% 1,949 $277K Add +41.9%
KEQU Kewaunee Scientific CP 0.10% 4,229 $247K Add +41.8%
BKTI BK Technologies Corp. 0.10% 5,062 $243K Add +41.8%
IVV iShares Core S&P 500 ETF 0.10% 375 $233K New
TATT Tat Technologies Ltd. 0.09% 7,256 $221K Add +72.5%
SUB iShares Short-Term National 0.09% 2,080 $221K New
MYRG MYR Group Inc./Delaware 0.09% 1,218 $221K Add +31.1%
SENEA Seneca Foods Corp. Class A 0.09% 2,151 $218K Add +41.4%
UCTT Ultra Clean Holdings Inc. 0.08% 8,594 $194K Add +41.8%
SPNS Sapiens International Corp. 0.08% 6,636 $194K Add +41.8%
NULV Nuveen ESG Large-Cap Val ETF 0.08% 4,617 $194K Reduce -16.9%
PDEX Pro-Dex Inc. 0.07% 4,109 $179K New
RSP Invesco S&P 500 Equal Weight 0.07% 970 $176K Reduce -8.0%
HG Hamilton Insurance Grou Class B 0.07% 7,729 $167K Add +41.8%
CGCB Cap Group Core Bond 0.06% 5,622 $148K Add +15.8%
COHU Cohu Inc. 0.06% 7,609 $146K Add +41.8%
GRW TCW Durable Growth ETF 0.06% 4,143 $145K Add +128.1%
KE Kimball Electronics Inc. 0.06% 7,494 $144K Add +12.1%
MCRI Monarch Casino & Resort Inc. 0.06% 1,660 $143K Add +19.2%
VLGEA Village Super Market Class A 0.06% 3,713 $143K Add +41.8%
OUSM Alps Oshares US Small-Cap Qu 0.06% 3,291 $142K Add +67.4%
XLP SS Consumer Staples Sel Sect 0.06% 1,706 $138K No change
DIAL Columbia Divers Fix Inc. ETF 0.05% 6,888 $125K Add +13.9%
TDTT NT Iboxx 3Y Dur Tips ETF 0.05% 4,926 $119K New
MSFT Microsoft Corp. 0.05% 240 $119K Add +45.5%
TRNS Transcat Inc. 0.05% 1,352 $116K Add +41.7%
IWD iShares Russell 1000 Value E 0.05% 582 $113K Reduce -1.7%
IBIT iShares Bitcoin Trust ETF 0.04% 1,640 $100K New
AAPL Apple Inc. 0.04% 430 $88K Add +41.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.04% 140 $87K Add +1066.7%
LLY Eli Lilly & Co. 0.03% 107 $83K Reduce -4.5%
BIPC Brookfield Infrastructure-A 0.03% 1,993 $83K Reduce -15.1%
ATNI Atn International Inc. 0.03% 4,977 $82K Add +41.8%
SPIP SS SPDR P Tips ETF 0.03% 3,130 $82K Add +117.7%
MDY State Street SPDR S&P Midcap 0.03% 125 $71K New
FBTC Fidelity Wise Origin Bitcoin 0.03% 751 $71K Add +24.8%
CAT Caterpillar Inc. 0.03% 180 $70K No change
AM Antero Midstream Corp. 0.03% 3,519 $67K Add +1.3%
IGF iShares Global Infrastructur 0.03% 1,101 $65K Add +150.8%
IVE iShares S&P 500 Value ETF 0.02% 280 $55K New
MFSI MFS Active International 0.02% 1,916 $55K Add +1595.6%
DVYE iShares Emerging Markets Div 0.02% 1,839 $53K New
POWL Powell Industries Inc. 0.02% 246 $52K New
V Visa Inc. Class A 0.02% 140 $50K No change
LSEQ Harbor Long-Short Equity ETF 0.02% 1,676 $47K Add +59.5%
IVW iShares S&P 500 Growth ETF 0.02% 400 $44K New
GILD Gilead Sciences Inc. 0.02% 350 $39K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.02% 800 $38K No change
EWJ iShares MSCI Japan ETF 0.01% 480 $36K New
ENB Enbridge Inc. 0.01% 738 $33K No change
QQQ Invesco QQQ Trust Series 1 0.01% 55 $30K New
COM Direxion Auspice BRD Cmdty 0.01% 1,056 $29K Add +46.9%
HAS Hasbro Inc. 0.01% 361 $27K Reduce -27.7%
PSX Phillips 66 0.01% 214 $26K Reduce -28.9%
PAVE Global X US Infrastructure 0.01% 545 $24K New
VWO Vanguard Ftse Emerging Marke 0.01% 396 $20K New
ABBV Abbvie Inc. 0.01% 100 $19K New
IJR iShares Core S&P Small-Cap E 0.01% 162 $18K New
IEF iShares 7-10 Year Treasury B 0.01% 172 $16K No change
HEI Heico Corp. 0.01% 47 $15K 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 $14K No change
EMR Emerson Electric Co. 0.01% 105 $14K No change
MPWR Monolithic Power Systems Inc. 0.01% 19 $14K No change
IEFA iShares Core MSCI Eafe ETF 0.01% 145 $12K New
FXI iShares China Large-Cap ETF 0.00% 304 $11K New
MARA Mara Holdings Inc. 0.00% 700 $11K No change
COST Costco Wholesale Corp. 0.00% 11 $11K No change
MDLZ Mondelez International Inc. Class A 0.00% 154 $10K No change
DVY iShares Select Dividend ETF 0.00% 75 $10K Reduce -85.6%
ICE Intercontinental Exchange Inc. 0.00% 50 $9K No change
ABT Abbott Laboratories 0.00% 61 $8K No change
CWB SS SPDR BB Conv Sec ETF 0.00% 100 $8K New
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.00% 100 $8K New
NEE Nextera Energy Inc. 0.00% 116 $8K No change
PEP Pepsico Inc. 0.00% 54 $7K No change
CI The Cigna Group 0.00% 20 $7K No change
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.00% 106 $6K Add +3.9%
TGT Target Corp. 0.00% 57 $6K No change
TMO Thermo Fisher Scientific Inc. 0.00% 10 $4K No change
IWF iShares Russell 1000 Growth 0.00% 9 $4K No change
WST West Pharmaceutical Services 0.00% 14 $3K No change
SGOV iShares 0-3 Month Treasury B 0.00% 1 $78 Reduce -98.7%
JEPI JPMorgan Equity Premium Inco 0.00% 1 $42 Reduce -98.5%
PESI Perma-Fix Environmental SVCS 0.00% 1 $11 No change
IDN Intellicheck Inc. 0.00% 1 $2 No change

Options reported separately and not counted above: GD calls ($29K), WEC calls ($21K), T calls ($20K), C calls ($17K), ETR calls ($17K), WFC calls ($16K), JNJ calls ($15K), CVX calls ($14K), CSCO calls ($14K), VZ calls ($13K), DUK calls ($12K), PBA calls ($11K), and 12 more.

Portfolio Sells Q1 2025 → Q2 2025
PM Philip Morris International Reduce -35.5% 2.92% −1.02
CVX Chevron Corp. Reduce -1.5% 2.89% −0.53
XOM Exxon Mobil Corp. Reduce -1.2% 3.48% −0.40
LYB Lyondellbasell Indu Class A Reduce -0.7% 1.71% −0.38
KHC The Kraft Heinz Co. Reduce -1.7% 1.80% −0.35
GIS General Mills Inc. Reduce -1.5% 1.70% −0.29
ARE Alexandria Real Estate Equit Reduce -1.3% 1.00% −0.28
MRK Merck & Co. Inc. Reduce -1.6% 1.88% −0.28
PBA Pembina Pipeline Corp. Reduce -1.4% 2.91% −0.22
JNJ Johnson & Johnson Reduce -1.3% 2.11% −0.21
WEC WEC Energy Group Inc. Reduce -1.2% 3.51% −0.20
UPS United Parcel Service Class B Reduce -0.9% 1.93% −0.19
VZ Verizon Communications Inc. Reduce -1.5% 2.75% −0.17
PG The Procter & Gamble Co. Reduce -1.8% 1.83% −0.16
SBUX Starbucks Corp. Reduce -1.4% 1.62% −0.13
PRU Prudential Financial Inc. Reduce -1.3% 2.61% −0.13
ETR Entergy Corp. Reduce -1.0% 3.25% −0.12
MDT Medtronic PLC Reduce -1.1% 2.82% −0.11
MCD McDonald's Corp. Reduce -0.2% 1.61% −0.11
DUK Duke Energy Corp. Reduce -1.1% 2.57% −0.11
PFE Pfizer Inc. Reduce -1.1% 1.97% −0.11
RIO Rio Tinto PLC-Spon ADR Reduce -1.3% 1.32% −0.11
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -2.9% 2.68% −0.07
KO The Coca-Cola Co. Reduce -1.3% 3.05% −0.07
CCI Crown Castle Inc. Reduce -1.3% 2.73% −0.07
SO The Southern Co. Reduce -1.2% 2.51% −0.03
MDLV Morgan Dempsey LC Value ETF Reduce -10.5% 0.22% −0.03
DVY iShares Select Dividend ETF Reduce -85.6% 0.00% −0.03
ELMD Electromed Inc. Sold out 0.00% −0.02
NULV Nuveen ESG Large-Cap Val ETF Reduce -16.9% 0.08% −0.01
PSX Phillips 66 Reduce -28.9% 0.01% −0.00
ORCL Oracle Corp. Sold out 0.00% −0.00
LLY Eli Lilly & Co. Reduce -4.5% 0.03% −0.00
SGOV iShares 0-3 Month Treasury B Reduce -98.7% 0.00% −0.00
RSP Invesco S&P 500 Equal Weight Reduce -8.0% 0.07% −0.00
HAS Hasbro Inc. Reduce -27.7% 0.01% −0.00
JEPI JPMorgan Equity Premium Inco Reduce -98.5% 0.00% −0.00
BIPC Brookfield Infrastructure-A Reduce -15.1% 0.03% −0.00
IWD iShares Russell 1000 Value E Reduce -1.7% 0.05% +0.00
ES Eversource Energy Reduce -1.1% 2.44% +0.04
T AT&T Inc. Reduce -1.4% 4.45% +0.05
VOYA Voya Financial Inc. Reduce -0.3% 1.52% +0.07
CMI Cummins Inc. Reduce -1.6% 2.93% +0.08
MAIN Main Street Capital Corp. Reduce -0.8% 2.26% +0.09
LMT Lockheed Martin Corp. Reduce -0.7% 2.91% +0.09
GD General Dynamics Corp. Reduce -0.8% 2.80% +0.17
CSCO Cisco Systems Inc. Reduce -1.4% 3.76% +0.38
IBM Intl Business Machines Corp. Reduce -1.4% 3.36% +0.49
C Citigroup Inc. Reduce -1.3% 4.27% +0.67

Portfolio Buys Q1 2025 → Q2 2025
OKE Oneok Inc. New 1.46% +1.46
WFC Wells Fargo & Co. Add +25.3% 3.09% +0.89
ESP Espey MFG & Electronics Corp. Add +41.8% 0.17% +0.10
IVV iShares Core S&P 500 ETF New 0.10% +0.10
SUB iShares Short-Term National New 0.09% +0.09
PDEX Pro-Dex Inc. New 0.07% +0.07
DAC Danaos Corp. Add +41.7% 0.16% +0.06
UFPT Ufp Technologies Inc. Add +41.8% 0.14% +0.06
HWKN Hawkins Inc. Add +41.9% 0.12% +0.05
KEQU Kewaunee Scientific CP Add +41.8% 0.10% +0.05
TDTT NT Iboxx 3Y Dur Tips ETF New 0.05% +0.05
MYRG MYR Group Inc./Delaware Add +31.1% 0.09% +0.05
TATT Tat Technologies Ltd. Add +72.5% 0.09% +0.04
BKTI BK Technologies Corp. Add +41.8% 0.10% +0.04
IBIT iShares Bitcoin Trust ETF New 0.04% +0.04
EGY Vaalco Energy Inc. Add +40.4% 0.15% +0.04
GRW TCW Durable Growth ETF Add +128.1% 0.06% +0.04
SENEA Seneca Foods Corp. Class A Add +41.4% 0.09% +0.03
SPY SS SPDR S&P 500 ETF Trust-US Add +1066.7% 0.04% +0.03
MDY State Street SPDR S&P Midcap New 0.03% +0.03
SPNS Sapiens International Corp. Add +41.8% 0.08% +0.03
COHU Cohu Inc. Add +41.8% 0.06% +0.03
UCTT Ultra Clean Holdings Inc. Add +41.8% 0.08% +0.03
OUSM Alps Oshares US Small-Cap Qu Add +67.4% 0.06% +0.03
MSFT Microsoft Corp. Add +45.5% 0.05% +0.02
HG Hamilton Insurance Grou Class B Add +41.8% 0.07% +0.02
IVE iShares S&P 500 Value ETF New 0.02% +0.02
DVYE iShares Emerging Markets Div New 0.02% +0.02
MFSI MFS Active International Add +1595.6% 0.02% +0.02
POWL Powell Industries Inc. New 0.02% +0.02
VLGEA Village Super Market Class A Add +41.8% 0.06% +0.02
IVW iShares S&P 500 Growth ETF New 0.02% +0.02
SPIP SS SPDR P Tips ETF Add +117.7% 0.03% +0.02
TRNS Transcat Inc. Add +41.7% 0.05% +0.02
IGF iShares Global Infrastructur Add +150.8% 0.03% +0.02
EWJ iShares MSCI Japan ETF New 0.01% +0.01
MCRI Monarch Casino & Resort Inc. Add +19.2% 0.06% +0.01
KE Kimball Electronics Inc. Add +12.1% 0.06% +0.01
QQQ Invesco QQQ Trust Series 1 New 0.01% +0.01
FBTC Fidelity Wise Origin Bitcoin Add +24.8% 0.03% +0.01
PAVE Global X US Infrastructure New 0.01% +0.01
AAPL Apple Inc. Add +41.0% 0.04% +0.01
CGCB Cap Group Core Bond Add +15.8% 0.06% +0.01
VWO Vanguard Ftse Emerging Marke New 0.01% +0.01
ABBV Abbvie Inc. New 0.01% +0.01
IJR iShares Core S&P Small-Cap E New 0.01% +0.01
DIAL Columbia Divers Fix Inc. ETF Add +13.9% 0.05% +0.01
LSEQ Harbor Long-Short Equity ETF Add +59.5% 0.02% +0.01
ATNI Atn International Inc. Add +41.8% 0.03% +0.01
IEFA iShares Core MSCI Eafe ETF New 0.01% +0.01

Options Activity Q1 2025 → Q2 2025
WFC Wells Fargo & Co. call Add +100.0% 200 $16K
PM Philip Morris International call Sold out 100 $16Kbefore exit
KO The Coca-Cola Co. call Sold out 200 $14Kbefore exit
PBA Pembina Pipeline Corp. call New 300 $11K
PFE Pfizer Inc. call Sold out 400 $10Kbefore exit
SBUX Starbucks Corp. call Sold out 100 $10Kbefore exit
KHC The Kraft Heinz Co. call Sold out 300 $9Kbefore exit
OKE Oneok Inc. call New 100 $8K
ES Eversource Energy call Sold out 100 $6Kbefore exit
LYB Lyondellbasell Indu Class A 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