Northstar Asset Management Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Northstar Asset Management Inc. reported 70 stock positions worth $384.6 million. Its top holding was Microsoft (MSFT) at 5.8% of the portfolio, followed by Alphabet Class A (GOOGL, 5.4%) and Apple (AAPL, 5.2%). Compared with Q2 2025, it opened 11 new positions, sold out of 2, added to 33 and reduced 10. The biggest buy was a new position in Nasdaq (NDAQ) and the biggest sale FedEx (FDX, shares −80%).

Most Recent 13F
Q2 2026
Location
Boston, MA
CIK
0000869304
Portfolio Value
$384.6M (Q3 2025)
SEC Filing
0001172661-25-004516 ↗ filed Oct 30, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $569.6M Q1 2024 Q2 2024: $391.6M Q2 2024 Q3 2024: $407.2M Q3 2024 Q4 2024: $380.9M Q4 2024 Q1 2025: $338.0M Q1 2025 Q2 2025: $361.8M Q2 2025 Q3 2025: $384.6M $384.6M Q3 2025 Q4 2025: $387.2M Q4 2025 Q1 2026: $325.9M Q1 2026 Q2 2026: $341.2M Q2 2026

Holdings 70 stocks · $384.6M
MSFT Microsoft Corp. 5.84% 43,367 $22.5M Add +1.6%
GOOGL Alphabet Inc. Class A 5.36% 84,752 $20.6M Reduce -3.9%
AAPL Apple Inc. 5.21% 78,720 $20.0M Add +3.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 4.39% 116,903 $16.9M Reduce -0.6%
ADP Automatic Data Processing 4.25% 55,709 $16.4M Add +2.0%
COST Costco Wholesale Corp. 4.25% 17,651 $16.3M Add +1.9%
LIN Linde PLC 4.14% 33,503 $15.9M Add +2.7%
UL Unilever PLC 4.09% 265,201 $15.7M Add +2.6%
SYK Stryker Corp. 3.98% 41,453 $15.3M Add +2.9%
INTU Intuit Inc. 3.62% 20,408 $13.9M Add +2.2%
ETN Eaton Corp. PLC 3.46% 35,591 $13.3M Add +0.2%
NVO Novo-Nordisk A/S-Spons ADR 3.21% 222,348 $12.3M Add +31.1%
IDXX Idexx Laboratories Inc. 3.08% 18,562 $11.9M Reduce -2.3%
XYL Xylem Inc. 3.08% 80,347 $11.9M Add +0.8%
HD Home Depot Inc. 2.94% 27,884 $11.3M Add +1.6%
BRK.A Berkshire Hathaway Inc. Class A 2.75% 14 $10.6M No change
DLR Digital Realty Trust Inc. 2.49% 55,444 $9.6M Add +2.3%
CNI Canadian Natl Railway Co. 2.48% 101,303 $9.6M Add +4.1%
VLTO Veralto Corp. 2.31% 83,349 $8.9M Add +3.4%
BR Broadridge Financial Solutio 2.17% 35,029 $8.3M Add +28.4%
CRM Salesforce Inc. 2.03% 32,971 $7.8M Add +0.7%
EBC Eastern Bankshares Inc. 1.97% 416,569 $7.6M Add +0.8%
VRSK Verisk Analytics Inc. 1.82% 27,805 $7.0M Add +40.7%
DHR Danaher Corp. 1.64% 31,808 $6.3M Reduce -1.6%
VOO Vanguard S&P 500 ETF 1.63% 10,220 $6.3M No change
IEX Idex Corp. 1.58% 37,430 $6.1M Reduce -4.8%
ALC Alcon Inc. filed as ALCON AG 1.29% 66,664 $5.0M Add +34.7%
CWT California Water Service Grp 1.27% 106,053 $4.9M Add +3.7%
NDAQ Nasdaq Inc. 1.19% 51,736 $4.6M New
SFM Sprouts Farmers Market Inc. 1.17% 41,419 $4.5M Add +4.4%
BMI Badger Meter Inc. 1.17% 25,225 $4.5M Add +9.3%
DDOG Datadog Inc. Class A 1.06% 28,529 $4.1M No change
ADBE Adobe Inc. 1.04% 11,358 $4.0M Reduce -3.9%
WINA Winmark Corp. 1.02% 7,899 $3.9M Add +7.6%
ANET Arista Networks Inc. 0.89% 23,381 $3.4M Add +2.4%
MSEX Middlesex Water Co. 0.73% 51,795 $2.8M Add +52.0%
ZM Zoom Communications Inc. 0.66% 30,644 $2.5M Reduce -10.0%
NVDA Nvidia Corp. 0.57% 11,850 $2.2M Add +3.3%
BRK.B Berkshire Hathaway Inc. Class B 0.54% 4,139 $2.1M Add +1.2%
FDX FedEx Corp. 0.34% 5,607 $1.3M Reduce -79.7%
GOOG Alphabet Inc. Class C 0.26% 4,075 $992K Add +2.0%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.21% 832 $793K No change
CSCO Cisco Systems Inc. 0.18% 10,055 $688K No change
PG The Procter & Gamble Co. 0.17% 4,191 $644K No change
DSI iShares ESG MSCI KLD 400 ETF 0.16% 4,997 $629K New
AMZN Amazon.com Inc. 0.16% 2,778 $610K Add +5.1%
IWF iShares Russell 1000 Growth 0.15% 1,215 $569K No change
TDY Teledyne Technologies Inc. 0.13% 851 $499K Reduce -1.1%
OEF iShares S&P 100 ETF 0.12% 1,397 $465K No change
PEP Pepsico Inc. 0.12% 3,151 $443K Add +29.7%
MCD McDonald's Corp. 0.11% 1,418 $431K Add +104.6%
ITW Illinois Tool Works 0.11% 1,627 $424K No change
META Meta Platforms Inc. Class A 0.11% 552 $405K Add +26.9%
UNP Union Pacific Corp. 0.10% 1,625 $384K New
QUAL iShares MSCI USA Quality Fac 0.10% 1,898 $369K New
IVE iShares S&P 500 Value ETF 0.09% 1,747 $361K New
SPY SS SPDR S&P 500 ETF Trust-US 0.09% 529 $352K No change
TSLA Tesla Inc. 0.09% 749 $333K No change
VTI VG Morningstar TS MKT ETF-US 0.09% 997 $327K No change
IVV iShares Core S&P 500 ETF 0.08% 485 $325K No change
EFV iShares MSCI Eafe Value ETF 0.08% 4,564 $310K New
AVGO Broadcom Inc. 0.07% 842 $278K New
MDY State Street SPDR S&P Midcap 0.07% 457 $272K New
VWO Vanguard Ftse Emerging Marke 0.07% 4,912 $266K New
TLRY Tilray Brands Inc. 0.07% 149,886 $259K No change
ABBV Abbvie Inc. 0.07% 1,118 $259K New
PYPL PayPal Holdings Inc. 0.06% 3,639 $244K Reduce -47.7%
IWD iShares Russell 1000 Value E 0.06% 1,184 $241K No change
XLK SS Technology Select Sector 0.06% 827 $233K New
TIP iShares Tips Bond ETF 0.06% 2,000 $222K No change

Portfolio Sells Q2 2025 → Q3 2025
FDX FedEx Corp. Reduce -79.7% 0.34% −1.39
IEX Idex Corp. Reduce -4.8% 1.58% −0.32
ADBE Adobe Inc. Reduce -3.9% 1.04% −0.22
DHR Danaher Corp. Reduce -1.6% 1.64% −0.13
IEFA iShares Core MSCI Eafe ETF Sold out 0.00% −0.09
PYPL PayPal Holdings Inc. Reduce -47.7% 0.06% −0.08
ZM Zoom Communications Inc. Reduce -10.0% 0.66% −0.08
VTV Vanguard Mrngstr Val ETF-Aui Sold out 0.00% −0.07
TDY Teledyne Technologies Inc. Reduce -1.1% 0.13% +0.01
IDXX Idexx Laboratories Inc. Reduce -2.3% 3.08% +0.27
TJX TJX Companies Inc. Reduce -0.6% 4.39% +0.38
GOOGL Alphabet Inc. Class A Reduce -3.9% 5.36% +1.06

Portfolio Buys Q2 2025 → Q3 2025
NDAQ Nasdaq Inc. New 1.19% +1.19
AAPL Apple Inc. Add +3.8% 5.21% +0.91
BR Broadridge Financial Solutio Add +28.4% 2.17% +0.34
WINA Winmark Corp. Add +7.6% 1.02% +0.26
ANET Arista Networks Inc. Add +2.4% 0.89% +0.24
XYL Xylem Inc. Add +0.8% 3.08% +0.23
EBC Eastern Bankshares Inc. Add +0.8% 1.97% +0.22
MSEX Middlesex Water Co. Add +52.0% 0.73% +0.22
DSI iShares ESG MSCI KLD 400 ETF New 0.16% +0.16
HD Home Depot Inc. Add +1.6% 2.94% +0.16
VRSK Verisk Analytics Inc. Add +40.7% 1.82% +0.12
UNP Union Pacific Corp. New 0.10% +0.10
QUAL iShares MSCI USA Quality Fac New 0.10% +0.10
IVE iShares S&P 500 Value ETF New 0.09% +0.09
ALC Alcon Inc. Add +34.7% 1.29% +0.08
EFV iShares MSCI Eafe Value ETF New 0.08% +0.08
NVDA Nvidia Corp. Add +3.3% 0.57% +0.07
AVGO Broadcom Inc. New 0.07% +0.07
MDY State Street SPDR S&P Midcap New 0.07% +0.07
VWO Vanguard Ftse Emerging Marke New 0.07% +0.07
ABBV Abbvie Inc. New 0.07% +0.07
GOOG Alphabet Inc. Class C Add +2.0% 0.26% +0.06
VLTO Veralto Corp. Add +3.4% 2.31% +0.06
XLK SS Technology Select Sector New 0.06% +0.06
MCD McDonald's Corp. Add +104.6% 0.11% +0.06
PEP Pepsico Inc. Add +29.7% 0.12% +0.03
META Meta Platforms Inc. Class A Add +26.9% 0.11% +0.02
AMZN Amazon.com Inc. Add +5.1% 0.16% −0.00
BRK.B Berkshire Hathaway Inc. Class B Add +1.2% 0.54% −0.01
CWT California Water Service Grp Add +3.7% 1.27% −0.02
NVO Novo-Nordisk A/S-Spons ADR Add +31.1% 3.21% −0.03
MSFT Microsoft Corp. Add +1.6% 5.84% −0.03
ETN Eaton Corp. PLC Add +0.2% 3.46% −0.04
LIN Linde PLC Add +2.7% 4.14% −0.09
DLR Digital Realty Trust Inc. Add +2.3% 2.49% −0.12
UL Unilever PLC Add +2.6% 4.09% −0.28
CNI Canadian Natl Railway Co. Add +4.1% 2.48% −0.31
BMI Badger Meter Inc. Add +9.3% 1.17% −0.39
ADP Automatic Data Processing Add +2.0% 4.25% −0.40
SYK Stryker Corp. Add +2.9% 3.98% −0.42
CRM Salesforce Inc. Add +0.7% 2.03% −0.44
COST Costco Wholesale Corp. Add +1.9% 4.25% −0.49
SFM Sprouts Farmers Market Inc. Add +4.4% 1.17% −0.63
INTU Intuit Inc. Add +2.2% 3.62% −0.72

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 91$341.2MDSI, GOOGL, VSGX, AAPL, MSFT
Q1 2026 86$325.9MDSI, GOOGL, AAPL, MSFT, COST
Q4 2025 88$387.2MGOOGL, AAPL, MSFT, TJX, COST
Q3 2025 70$384.6MMSFT, GOOGL, AAPL, TJX, ADP
Q2 2025 61$361.8MMSFT, COST, ADP, SYK, UL
Q1 2025Amended 58$338.0MAAPL, ADP, COST, MSFT, UL
Q4 2024Amended 58$380.9MAAPL, MSFT, SYK, COST, GOOGL
Q3 2024Amended 58$407.2MAAPL, MSFT, LIN, SYK, COST
Q2 2024Amended 58$391.6MMSFT, AAPL, NVO, COST, LIN
Q1 2024Amended 57$569.6MBRK.A, MSFT, LIN, NVO, SYK