Palisade Asset Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), Palisade Asset Management, LLC reported 192 stock positions worth $973.6 million. Its top holding was Microsoft (MSFT) at 5.3% of the portfolio, followed by Apple (AAPL, 5.0%) and Unitedhealth (UNH, 3.7%). Compared with Q4 2024, it opened 3 new positions, sold out of 4, added to 61 and reduced 71. The biggest buy was Amgen (AMGN, shares +0%) and the biggest sale Apple (AAPL, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001434323
- Portfolio Value
- $973.6M (Q1 2025)
- SEC Filing
- 0001434323-25-000003 ↗ filed Apr 23, 2025
Holdings Value
Holdings 192 stocks · $973.6M
| MSFT Microsoft Corp. | 5.29% | 137,128 | $51.5M | Reduce -3.6% |
| AAPL Apple Inc. | 4.97% | 217,882 | $48.4M | Reduce -6.2% |
| UNH Unitedhealth Group Inc. | 3.69% | 68,541 | $35.9M | Add +2.8% |
| ABT Abbott Laboratories | 2.95% | 216,197 | $28.7M | Reduce -9.4% |
| ORCL Oracle Corp. | 2.67% | 185,738 | $26.0M | Reduce -0.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.63% | 103,038 | $25.6M | Reduce -0.1% |
| HD Home Depot Inc. | 2.60% | 69,174 | $25.4M | Reduce -0.7% |
| AMGN Amgen Inc. | 2.35% | 73,491 | $22.9M | Add +0.4% |
| CSCO Cisco Systems Inc. | 2.32% | 365,257 | $22.5M | Reduce -0.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.30% | 40,105 | $22.4M | Reduce -1.4% |
| PG The Procter & Gamble Co. | 2.05% | 117,261 | $20.0M | Reduce -0.7% |
| JPM JPMorgan Chase & Co. | 2.04% | 80,883 | $19.8M | Reduce -0.1% |
| ECL Ecolab Inc. | 1.99% | 76,290 | $19.3M | Add +0.1% |
| ADP Automatic Data Processing | 1.95% | 62,019 | $18.9M | Reduce -0.4% |
| DE Deere & Co. | 1.84% | 38,162 | $17.9M | Reduce -0.5% |
| JNJ Johnson & Johnson | 1.80% | 105,875 | $17.6M | Add +0.8% |
| MCD McDonald's Corp. | 1.67% | 52,041 | $16.3M | Add +0.1% |
| CVX Chevron Corp. | 1.65% | 95,801 | $16.0M | Reduce -1.3% |
| V Visa Inc. Class A | 1.63% | 45,270 | $15.9M | Add +0.1% |
| TGT Target Corp. | 1.61% | 150,168 | $15.7M | Reduce -0.5% |
| PEP Pepsico Inc. | 1.57% | 101,760 | $15.3M | Add +3.0% |
| LLY Eli Lilly & Co. | 1.56% | 18,338 | $15.1M | Reduce -3.8% |
| MMM 3M Co. | 1.46% | 96,557 | $14.2M | Reduce -0.9% |
| SYK Stryker Corp. | 1.45% | 37,816 | $14.1M | Reduce -1.0% |
| ABBV Abbvie Inc. | 1.43% | 66,623 | $14.0M | Reduce -24.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.32% | 105,607 | $12.9M | Reduce -0.8% |
| BLK BlackRock Inc. | 1.26% | 12,933 | $12.2M | Reduce -0.0% |
| GD General Dynamics Corp. | 1.23% | 43,955 | $12.0M | Add +1.1% |
| TXN Texas Instruments Inc. | 1.21% | 65,734 | $11.8M | Add +10.3% |
| USB US Bancorp | 1.19% | 275,485 | $11.6M | Add +0.5% |
| CL Colgate-Palmolive Co. | 1.17% | 121,539 | $11.4M | Add +0.0% |
| ACN Accenture PLC Class A | 1.14% | 35,634 | $11.1M | Add +1.8% |
| BDX Becton Dickinson and Co. | 1.13% | 47,820 | $11.0M | Add +0.6% |
| LHX L3HARRIS Technologies Inc. | 1.09% | 50,754 | $10.6M | Add +6.1% |
| TSCO Tractor Supply Company | 1.07% | 189,180 | $10.4M | Add +1.0% |
| RY Royal Bank of Canada | 1.01% | 87,649 | $9.9M | No change |
| AMT American Tower Corp. | 0.98% | 43,702 | $9.5M | Add +2.3% |
| RTX RTX Corp. | 0.94% | 69,271 | $9.2M | Reduce -1.9% |
| BALL Ball Corp. | 0.92% | 171,517 | $8.9M | Reduce -0.4% |
| AFL Aflac Inc. | 0.87% | 76,041 | $8.5M | Reduce -0.5% |
| XOM Exxon Mobil Corp. | 0.73% | 59,604 | $7.1M | Reduce -0.5% |
| TRV The Travelers Cos Inc. | 0.72% | 26,458 | $7.0M | Reduce -2.0% |
| IWM iShares Russell 2000 ETF | 0.69% | 33,578 | $6.7M | Reduce -1.5% |
| XEL Xcel Energy Inc. | 0.64% | 87,588 | $6.2M | No change |
| DCI Donaldson Co. Inc. | 0.60% | 86,721 | $5.8M | Reduce -1.0% |
| MDY State Street SPDR S&P Midcap | 0.58% | 10,510 | $5.6M | Reduce -8.9% |
| GIS General Mills Inc. | 0.57% | 92,235 | $5.5M | Reduce -3.1% |
| HSY The Hershey Co. | 0.55% | 31,089 | $5.3M | Add +4.3% |
| MDT Medtronic PLC | 0.55% | 59,081 | $5.3M | Add +5.4% |
| WMT Walmart Inc. | 0.53% | 58,997 | $5.2M | Reduce -3.6% |
| HRL Hormel Foods Corp. | 0.51% | 160,713 | $5.0M | Reduce -3.3% |
| GGG Graco Inc. | 0.47% | 54,872 | $4.6M | Reduce -0.3% |
| FAST Fastenal Co. | 0.45% | 55,946 | $4.3M | No change |
| VOO Vanguard S&P 500 ETF | 0.43% | 8,189 | $4.2M | Add +1.4% |
| SO The Southern Co. | 0.43% | 45,467 | $4.2M | Add +0.2% |
| DHR Danaher Corp. | 0.43% | 20,306 | $4.2M | Add +0.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.42% | 14,925 | $4.1M | Reduce -3.0% |
| KMB Kimberly-Clark Corp. | 0.41% | 28,400 | $4.0M | Reduce -4.2% |
| IJH iShares Core S&P Midcap ETF | 0.41% | 69,043 | $4.0M | Add +6.3% |
| VZ Verizon Communications Inc. | 0.40% | 84,799 | $3.8M | Reduce -2.8% |
| T AT&T Inc. | 0.39% | 133,175 | $3.8M | No change |
| EMR Emerson Electric Co. | 0.38% | 33,811 | $3.7M | Reduce -3.8% |
| IJR iShares Core S&P Small-Cap E | 0.38% | 34,922 | $3.7M | Add +5.6% |
| HON Honeywell International Inc. | 0.37% | 17,177 | $3.6M | Reduce -4.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.35% | 45,497 | $3.4M | Add +0.8% |
| TECH Bio-Techne Corp. | 0.34% | 56,349 | $3.3M | No change |
| CAT Caterpillar Inc. | 0.32% | 9,347 | $3.1M | Reduce -0.4% |
| EFA iShares MSCI Eafe ETF | 0.32% | 37,527 | $3.1M | No change |
| MKC McCormick & Co.-Non VTG SHRS | 0.31% | 37,249 | $3.1M | Add +4.0% |
| KO The Coca-Cola Co. | 0.31% | 42,473 | $3.0M | Reduce -2.5% |
| MS Morgan Stanley | 0.31% | 25,688 | $3.0M | Add +1.4% |
| MRK Merck & Co. Inc. | 0.31% | 33,356 | $3.0M | Add +1.2% |
| GPC Genuine Parts Co. | 0.30% | 24,819 | $3.0M | Reduce -0.7% |
| FISV Fiserv Inc. | 0.28% | 12,353 | $2.7M | Add +0.8% |
| ROST Ross Stores Inc. | 0.27% | 20,231 | $2.6M | Reduce -0.0% |
| APH Amphenol Corp. Class A | 0.26% | 38,474 | $2.5M | Add +0.2% |
| INTC Intel Corp. | 0.25% | 108,421 | $2.5M | Reduce -6.2% |
| CNP Centerpoint Energy Inc. | 0.25% | 67,837 | $2.5M | No change |
| KLAC KLA Corp. | 0.25% | 3,565 | $2.4M | Add +4.8% |
| FDX FedEx Corp. | 0.25% | 9,845 | $2.4M | Add +0.7% |
| ASB Associated Banc-Corp. | 0.24% | 102,070 | $2.3M | No change |
| PAYX Paychex Inc. | 0.23% | 14,342 | $2.2M | No change |
| IWF iShares Russell 1000 Growth | 0.22% | 6,000 | $2.2M | Reduce -0.6% |
| NEE Nextera Energy Inc. | 0.21% | 29,201 | $2.1M | Add +9.5% |
| NKE Nike Inc. Class B | 0.20% | 31,113 | $2.0M | Add +1.2% |
| AXP American Express Co. | 0.20% | 7,295 | $2.0M | Reduce -3.1% |
| GOOGL Alphabet Inc. Class A | 0.19% | 12,217 | $1.9M | Add +8.8% |
| NVS Novartis AG-Sponsored ADR | 0.19% | 16,624 | $1.9M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.18% | 3,361 | $1.8M | Reduce -7.7% |
| SYY Sysco Corp. | 0.18% | 23,147 | $1.7M | Reduce -11.6% |
| UPS United Parcel Service Class B | 0.18% | 15,651 | $1.7M | Reduce -0.6% |
| LOW Lowe's Cos Inc. | 0.17% | 7,246 | $1.7M | Add +0.5% |
| NVDA Nvidia Corp. | 0.17% | 15,047 | $1.6M | Add +2.9% |
| GOOG Alphabet Inc. Class C | 0.16% | 10,186 | $1.6M | Add +3.0% |
| MTD Mettler-Toledo International | 0.16% | 1,300 | $1.5M | No change |
| LIN Linde PLC | 0.16% | 3,259 | $1.5M | No change |
| D Dominion Energy Inc. | 0.15% | 26,445 | $1.5M | Add +0.5% |
| GL Globe Life Inc. | 0.15% | 11,244 | $1.5M | No change |
| AMP Ameriprise Financial Inc. | 0.15% | 3,034 | $1.5M | No change |
| UNP Union Pacific Corp. | 0.15% | 6,084 | $1.4M | Add +2.7% |
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -6.2% | 4.97% | −0.93 |
| MSFT Microsoft Corp. | Reduce -3.6% | 5.29% | −0.80 |
| ORCL Oracle Corp. | Reduce -0.9% | 2.67% | −0.50 |
| TGT Target Corp. | Reduce -0.5% | 1.61% | −0.46 |
| ABBV Abbvie Inc. | Reduce -24.9% | 1.43% | −0.17 |
| HD Home Depot Inc. | Reduce -0.7% | 2.60% | −0.14 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.4% | 2.30% | −0.11 |
| SCHW Schwab (charles) Corp. | Reduce -57.7% | 0.09% | −0.11 |
| MDY State Street SPDR S&P Midcap | Reduce -8.9% | 0.58% | −0.09 |
| BLK BlackRock Inc. | Reduce -0.0% | 1.26% | −0.09 |
| IWM iShares Russell 2000 ETF | Reduce -1.5% | 0.69% | −0.08 |
| EMR Emerson Electric Co. | Reduce -3.8% | 0.38% | −0.06 |
| GIS General Mills Inc. | Reduce -3.1% | 0.57% | −0.05 |
| BALL Ball Corp. | Reduce -0.4% | 0.92% | −0.05 |
| ROST Ross Stores Inc. | Reduce -0.0% | 0.27% | −0.04 |
| HON Honeywell International Inc. | Reduce -4.2% | 0.37% | −0.04 |
| ECG Everus Construction Group | Sold out | 0.00% | −0.03 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.0% | 0.42% | −0.03 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.03 |
| WMT Walmart Inc. | Reduce -3.6% | 0.53% | −0.03 |
| CAT Caterpillar Inc. | Reduce -0.4% | 0.32% | −0.03 |
| DAL Delta Air Lines Inc. | Sold out | 0.00% | −0.03 |
| VXUS Vanguard Total Intl Stock | Reduce -31.9% | 0.07% | −0.03 |
| AXP American Express Co. | Reduce -3.1% | 0.20% | −0.03 |
| SYY Sysco Corp. | Reduce -11.6% | 0.18% | −0.02 |
| UPS United Parcel Service Class B | Reduce -0.6% | 0.18% | −0.02 |
| IWF iShares Russell 1000 Growth | Reduce -0.6% | 0.22% | −0.02 |
| HUBB Hubbell Inc. | Sold out | 0.00% | −0.02 |
| HRL Hormel Foods Corp. | Reduce -3.3% | 0.51% | −0.02 |
| CLX Clorox Company | Reduce -0.6% | 0.12% | −0.01 |
| PFE Pfizer Inc. | Reduce -4.6% | 0.12% | −0.01 |
| NTRS Northern Trust Corp. | Reduce -9.7% | 0.05% | −0.01 |
| KNF Knife River Corp. | Reduce -9.9% | 0.03% | −0.01 |
| DVY iShares Select Dividend ETF | Reduce -16.4% | 0.04% | −0.01 |
| FUL H.B. Fuller Co. | Reduce -2.4% | 0.02% | −0.01 |
| PH Parker Hannifin Corp. | Reduce -1.1% | 0.09% | −0.00 |
| MDU Mdu Resources Group Inc. | Reduce -5.3% | 0.03% | −0.00 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -0.1% | 0.03% | −0.00 |
| DCI Donaldson Co. Inc. | Reduce -1.0% | 0.60% | −0.00 |
| IVV iShares Core S&P 500 ETF | Reduce -0.8% | 0.03% | −0.00 |
| AGG iShares Core U.S. Aggregate | Reduce -4.6% | 0.05% | −0.00 |
| TIP iShares Tips Bond ETF | Reduce -5.6% | 0.10% | −0.00 |
| GGG Graco Inc. | Reduce -0.3% | 0.47% | +0.00 |
| PSX Phillips 66 | Reduce -8.5% | 0.07% | +0.00 |
| SJM The JM Smucker Co. | Reduce -6.1% | 0.05% | +0.00 |
| BND Vanguard Total Bond Market | Reduce -0.9% | 0.06% | +0.00 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -2.1% | 0.08% | +0.00 |
| SOLV Solventum Corp. | Reduce -10.6% | 0.05% | +0.00 |
| COP Conocophillips | Reduce -4.5% | 0.14% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Reduce -0.1% | 0.09% | +0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| AMGN Amgen Inc. | Add +0.4% | 2.35% | +0.42 |
| UNH Unitedhealth Group Inc. | Add +2.8% | 3.69% | +0.26 |
| JNJ Johnson & Johnson | Add +0.8% | 1.80% | +0.26 |
| AMT American Tower Corp. | Add +2.3% | 0.98% | +0.18 |
| V Visa Inc. Class A | Add +0.1% | 1.63% | +0.18 |
| ECL Ecolab Inc. | Add +0.1% | 1.99% | +0.17 |
| MCD McDonald's Corp. | Add +0.1% | 1.67% | +0.14 |
| MDT Medtronic PLC | Add +5.4% | 0.55% | +0.09 |
| TXN Texas Instruments Inc. | Add +10.3% | 1.21% | +0.08 |
| LHX L3HARRIS Technologies Inc. | Add +6.1% | 1.09% | +0.07 |
| GD General Dynamics Corp. | Add +1.1% | 1.23% | +0.07 |
| TSCO Tractor Supply Company | Add +1.0% | 1.07% | +0.06 |
| SO The Southern Co. | Add +0.2% | 0.43% | +0.05 |
| CL Colgate-Palmolive Co. | Add +0.0% | 1.17% | +0.05 |
| PEP Pepsico Inc. | Add +3.0% | 1.57% | +0.04 |
| MKC McCormick & Co.-Non VTG SHRS | Add +4.0% | 0.31% | +0.04 |
| HSY The Hershey Co. | Add +4.3% | 0.55% | +0.03 |
| KLAC KLA Corp. | Add +4.8% | 0.25% | +0.03 |
| IEFA iShares Core MSCI Eafe ETF | Add +0.8% | 0.35% | +0.03 |
| BDX Becton Dickinson and Co. | Add +0.6% | 1.13% | +0.03 |
| FISV Fiserv Inc. | Add +0.8% | 0.28% | +0.02 |
| CMF iShares California Muni Bond | New | 0.02% | +0.02 |
| SCHA Schwab US Small-Cap ETF | New | 0.02% | +0.02 |
| CVS CVS Health Corp. | New | 0.02% | +0.02 |
| NEE Nextera Energy Inc. | Add +9.5% | 0.21% | +0.02 |
| UNP Union Pacific Corp. | Add +2.7% | 0.15% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +2.5% | 0.11% | +0.01 |
| MCK McKesson Corp. | Add +2.1% | 0.05% | +0.01 |
| D Dominion Energy Inc. | Add +0.5% | 0.15% | +0.01 |
| SCHF Schwab Intl Equity ETF | Add +9.4% | 0.05% | +0.01 |
| GE General Electric | Add +0.3% | 0.03% | +0.01 |
| BSX Boston Scientific Corp. | Add +2.3% | 0.04% | +0.01 |
| CB Chubb Ltd. | Add +1.2% | 0.05% | +0.01 |
| SBUX Starbucks Corp. | Add +0.3% | 0.06% | +0.00 |
| IEMG iShares Core MSCI Emerging | Add +2.2% | 0.06% | +0.00 |
| IJH iShares Core S&P Midcap ETF | Add +6.3% | 0.41% | +0.00 |
| IWD iShares Russell 1000 Value E | Add +0.0% | 0.08% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.8% | 0.11% | +0.00 |
| ETN Eaton Corp. PLC | Add +21.6% | 0.03% | +0.00 |
| FDS Factset Research Systems Inc. | Add +4.5% | 0.11% | +0.00 |
| BA The Boeing Co. | Add +2.5% | 0.03% | 0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.1% | 0.05% | −0.00 |
| ITW Illinois Tool Works | Add +0.4% | 0.10% | −0.00 |
| FICO Fair Isaac Corp. | Add +5.0% | 0.04% | −0.00 |
| ISRG Intuitive Surgical Inc. | Add +2.8% | 0.05% | −0.00 |
| DIS The Walt Disney Co. | Add +9.1% | 0.08% | −0.00 |
| AMZN Amazon.com Inc. | Add +8.0% | 0.09% | −0.00 |
| NOW ServiceNow Inc. | Add +6.7% | 0.03% | −0.01 |
| LOW Lowe's Cos Inc. | Add +0.5% | 0.17% | −0.01 |
| VOO Vanguard S&P 500 ETF | Add +1.4% | 0.43% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 204 | $1.1B | AAPL, MSFT, CSCO, UNH, SPY |
| Q1 2026 | 195 | $995.9M | AAPL, MSFT, CSCO, AMGN, ORCL |
| Q4 2025 | 193 | $1.0B | MSFT, AAPL, ORCL, IBM, CSCO |
| Q3 2025 | 701 | $1.1B | MSFT, AAPL, ORCL, ABT, IBM |
| Q2 2025 | 193 | $1.0B | MSFT, AAPL, ORCL, IBM, ABT |
| Q1 2025 | 192 | $973.6M | MSFT, AAPL, UNH, ABT, ORCL |
| Q4 2024 | 193 | $985.6M | MSFT, AAPL, UNH, ORCL, HD |
| Q3 2024 | 197 | $1.0B | MSFT, AAPL, UNH, ORCL, HD |
| Q2 2024 | 191 | $967.1M | MSFT, AAPL, UNH, ORCL, HD |
| Q1 2024 | 407 | $1.0B | MSFT, AAPL, UNH, HD, ABT |