Palisade Asset Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 17, 2025), Palisade Asset Management, LLC reported 701 stock positions worth $1.1 billion. Its top holding was Microsoft (MSFT) at 6.4% of the portfolio, followed by Apple (AAPL, 5.0%) and Oracle (ORCL, 4.7%). Compared with Q2 2025, it opened 508 new positions, added to 77 and reduced 82. The biggest buy was Hershey (HSY, shares +62%) and the biggest sale Hormel Foods (HRL, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001434323
- Portfolio Value
- $1.1B (Q3 2025)
- SEC Filing
- 0001434323-25-000005 ↗ filed Nov 17, 2025
Holdings Value
Holdings 701 stocks · $1.1B
| MSFT Microsoft Corp. | 6.36% | 132,104 | $68.4M | Reduce -2.3% |
| AAPL Apple Inc. | 4.95% | 209,300 | $53.3M | Reduce -3.2% |
| ORCL Oracle Corp. | 4.68% | 178,848 | $50.3M | Reduce -3.1% |
| ABT Abbott Laboratories | 2.67% | 214,759 | $28.8M | Add +0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.67% | 101,653 | $28.7M | Reduce -0.1% |
| UNH Unitedhealth Group Inc. | 2.66% | 82,824 | $28.6M | Add +10.5% |
| HD Home Depot Inc. | 2.56% | 68,059 | $27.6M | Reduce -0.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.42% | 39,019 | $26.0M | Reduce -1.1% |
| CSCO Cisco Systems Inc. | 2.31% | 362,837 | $24.8M | Reduce -0.5% |
| JPM JPMorgan Chase & Co. | 2.30% | 78,439 | $24.7M | Reduce -1.1% |
| ECL Ecolab Inc. | 1.97% | 77,447 | $21.2M | Add +0.1% |
| AMGN Amgen Inc. | 1.96% | 74,841 | $21.1M | Add +1.0% |
| JNJ Johnson & Johnson | 1.82% | 105,441 | $19.6M | Reduce -0.3% |
| ADP Automatic Data Processing | 1.67% | 61,186 | $18.0M | Reduce -0.3% |
| PG The Procter & Gamble Co. | 1.67% | 116,865 | $18.0M | Reduce -0.3% |
| DE Deere & Co. | 1.61% | 37,945 | $17.4M | Reduce -0.2% |
| MCD McDonald's Corp. | 1.47% | 52,081 | $15.8M | Add +0.3% |
| LHX L3HARRIS Technologies Inc. | 1.44% | 50,689 | $15.5M | Reduce -0.5% |
| PEP Pepsico Inc. | 1.43% | 109,491 | $15.4M | Add +4.5% |
| V Visa Inc. Class A | 1.43% | 44,996 | $15.4M | No change |
| GD General Dynamics Corp. | 1.41% | 44,546 | $15.2M | Reduce -0.3% |
| ABBV Abbvie Inc. | 1.40% | 65,092 | $15.1M | Reduce -0.3% |
| BLK BlackRock Inc. | 1.39% | 12,837 | $15.0M | Reduce -0.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.38% | 102,717 | $14.8M | Reduce -0.5% |
| CVX Chevron Corp. | 1.38% | 95,479 | $14.8M | Add +0.1% |
| MMM 3M Co. | 1.37% | 95,193 | $14.8M | Reduce -1.0% |
| LLY Eli Lilly & Co. | 1.34% | 18,889 | $14.4M | Add +3.1% |
| TGT Target Corp. | 1.29% | 155,271 | $13.9M | Add +1.3% |
| SYK Stryker Corp. | 1.29% | 37,534 | $13.9M | Reduce -0.0% |
| USB US Bancorp | 1.26% | 281,006 | $13.6M | Add +2.4% |
| TXN Texas Instruments Inc. | 1.23% | 72,294 | $13.3M | Add +5.1% |
| RY Royal Bank of Canada | 1.18% | 86,079 | $12.7M | Reduce -0.7% |
| ACN Accenture PLC Class A | 1.10% | 47,774 | $11.8M | Add +25.9% |
| RTX RTX Corp. | 1.07% | 69,034 | $11.6M | Reduce -0.3% |
| TSCO Tractor Supply Company | 1.00% | 189,454 | $10.8M | Reduce -0.1% |
| HSY The Hershey Co. | 0.96% | 55,309 | $10.3M | Add +62.2% |
| BDX Becton Dickinson and Co. | 0.90% | 51,576 | $9.7M | Add +3.5% |
| CL Colgate-Palmolive Co. | 0.88% | 119,031 | $9.5M | Reduce -2.1% |
| AMT American Tower Corp. | 0.85% | 47,548 | $9.1M | Add +7.7% |
| BALL Ball Corp. | 0.79% | 168,210 | $8.5M | Reduce -0.4% |
| AFL Aflac Inc. | 0.76% | 72,792 | $8.1M | Reduce -3.3% |
| IWM iShares Russell 2000 ETF | 0.74% | 32,991 | $8.0M | Reduce -1.0% |
| TRV The Travelers Cos Inc. | 0.68% | 26,151 | $7.3M | Reduce -0.1% |
| DCI Donaldson Co. Inc. | 0.65% | 85,619 | $7.0M | Reduce -0.1% |
| XEL Xcel Energy Inc. | 0.63% | 84,468 | $6.8M | Add +0.0% |
| XOM Exxon Mobil Corp. | 0.62% | 59,179 | $6.7M | Add +0.2% |
| MDY State Street SPDR S&P Midcap | 0.58% | 10,443 | $6.2M | No change |
| WMT Walmart Inc. | 0.56% | 58,006 | $6.0M | Reduce -1.1% |
| VOO Vanguard S&P 500 ETF | 0.55% | 9,658 | $5.9M | Add +9.9% |
| MDT Medtronic PLC | 0.54% | 61,473 | $5.9M | Reduce -0.1% |
| FAST Fastenal Co. | 0.50% | 108,936 | $5.3M | Reduce -2.5% |
| IJH iShares Core S&P Midcap ETF | 0.46% | 75,484 | $4.9M | Add +4.9% |
| APH Amphenol Corp. Class A | 0.44% | 38,307 | $4.7M | Add +0.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 14,380 | $4.7M | Reduce -3.6% |
| GGG Graco Inc. | 0.43% | 54,708 | $4.6M | Reduce -0.3% |
| IJR iShares Core S&P Small-Cap E | 0.42% | 38,188 | $4.5M | Add +4.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.40% | 49,430 | $4.3M | Add +18.0% |
| EMR Emerson Electric Co. | 0.40% | 32,481 | $4.3M | Reduce -0.3% |
| SO The Southern Co. | 0.39% | 43,828 | $4.2M | Add +0.0% |
| CAT Caterpillar Inc. | 0.38% | 8,673 | $4.1M | Reduce -3.7% |
| MS Morgan Stanley | 0.38% | 25,867 | $4.1M | Add +0.0% |
| DHR Danaher Corp. | 0.38% | 20,450 | $4.1M | Add +0.3% |
| GIS General Mills Inc. | 0.37% | 78,525 | $4.0M | Reduce -12.4% |
| KLAC KLA Corp. | 0.35% | 3,536 | $3.8M | Reduce -2.0% |
| INTC Intel Corp. | 0.33% | 105,029 | $3.5M | Reduce -1.2% |
| VZ Verizon Communications Inc. | 0.33% | 79,714 | $3.5M | Reduce -0.4% |
| EFA iShares MSCI Eafe ETF | 0.32% | 36,781 | $3.4M | Reduce -0.1% |
| KMB Kimberly-Clark Corp. | 0.32% | 27,599 | $3.4M | Reduce -1.2% |
| HON Honeywell International Inc. | 0.32% | 16,296 | $3.4M | Reduce -2.5% |
| GPC Genuine Parts Co. | 0.31% | 24,319 | $3.4M | No change |
| GOOGL Alphabet Inc. Class A | 0.30% | 13,118 | $3.2M | Add +2.0% |
| TECH Bio-Techne Corp. | 0.29% | 55,549 | $3.1M | No change |
| ROST Ross Stores Inc. | 0.28% | 19,607 | $3.0M | Add +0.0% |
| MRK Merck & Co. Inc. | 0.27% | 34,123 | $2.9M | Reduce -0.2% |
| NEE Nextera Energy Inc. | 0.26% | 37,316 | $2.8M | Add +20.7% |
| NVDA Nvidia Corp. | 0.26% | 14,893 | $2.8M | Add +2.0% |
| KO The Coca-Cola Co. | 0.26% | 41,505 | $2.8M | Add +0.1% |
| IWF iShares Russell 1000 Growth | 0.25% | 5,700 | $2.7M | Reduce -3.1% |
| CNP Centerpoint Energy Inc. | 0.24% | 67,837 | $2.6M | No change |
| ASB Associated Banc-Corp. | 0.24% | 102,070 | $2.6M | No change |
| MKC McCormick & Co.-Non VTG SHRS | 0.24% | 38,149 | $2.6M | Add +2.4% |
| GOOG Alphabet Inc. Class C | 0.23% | 10,142 | $2.5M | Add +0.3% |
| FDX FedEx Corp. | 0.23% | 10,473 | $2.5M | Add +5.4% |
| NKE Nike Inc. Class B | 0.21% | 32,071 | $2.2M | Add +1.8% |
| AXP American Express Co. | 0.20% | 6,628 | $2.2M | Reduce -4.2% |
| NVS Novartis AG-Sponsored ADR | 0.20% | 16,459 | $2.1M | Add +0.1% |
| T AT&T Inc. | 0.19% | 72,448 | $2.0M | Reduce -45.5% |
| PAYX Paychex Inc. | 0.16% | 13,578 | $1.7M | Reduce -0.3% |
| SYY Sysco Corp. | 0.16% | 20,522 | $1.7M | Reduce -9.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.16% | 3,352 | $1.7M | Reduce -0.3% |
| LOW Lowe's Cos Inc. | 0.16% | 6,702 | $1.7M | Add +0.1% |
| JCI Johnson Controls Internation | 0.15% | 15,160 | $1.7M | Add +0.0% |
| GL Globe Life Inc. | 0.15% | 11,244 | $1.6M | No change |
| D Dominion Energy Inc. | 0.15% | 26,158 | $1.6M | Add +0.1% |
| FHI Federated Hermes Inc. | 0.15% | 30,790 | $1.6M | No change |
| MTD Mettler-Toledo International | 0.15% | 1,300 | $1.6M | No change |
| FISV Fiserv Inc. | 0.15% | 12,361 | $1.6M | Add +0.1% |
| LIN Linde PLC | 0.14% | 3,263 | $1.5M | Add +0.1% |
| AMP Ameriprise Financial Inc. | 0.14% | 3,034 | $1.5M | No change |
| ZBRA Zebra Technologies Corp. Class A | 0.14% | 5,008 | $1.5M | Reduce -0.2% |
Portfolio Sells Q2 2025 → Q3 2025
| HRL Hormel Foods Corp. | Reduce -84.3% | 0.06% | −0.41 |
| MSFT Microsoft Corp. | Reduce -2.3% | 6.36% | −0.33 |
| IBM Intl Business Machines Corp. | Reduce -0.1% | 2.67% | −0.32 |
| DE Deere & Co. | Reduce -0.2% | 1.61% | −0.31 |
| CL Colgate-Palmolive Co. | Reduce -2.1% | 0.88% | −0.21 |
| ADP Automatic Data Processing | Reduce -0.3% | 1.67% | −0.21 |
| CSCO Cisco Systems Inc. | Reduce -0.5% | 2.31% | −0.21 |
| T AT&T Inc. | Reduce -45.5% | 0.19% | −0.19 |
| PG The Procter & Gamble Co. | Reduce -0.3% | 1.67% | −0.19 |
| SYK Stryker Corp. | Reduce -0.0% | 1.29% | −0.19 |
| BALL Ball Corp. | Reduce -0.4% | 0.79% | −0.15 |
| GIS General Mills Inc. | Reduce -12.4% | 0.37% | −0.09 |
| MMM 3M Co. | Reduce -1.0% | 1.37% | −0.08 |
| HON Honeywell International Inc. | Reduce -2.5% | 0.32% | −0.07 |
| KMB Kimberly-Clark Corp. | Reduce -1.2% | 0.32% | −0.04 |
| IWD iShares Russell 1000 Value E | Reduce -45.9% | 0.04% | −0.04 |
| GGG Graco Inc. | Reduce -0.3% | 0.43% | −0.04 |
| PAYX Paychex Inc. | Reduce -0.3% | 0.16% | −0.04 |
| VEA Vanguard Ftse Developed ETF | Reduce -27.3% | 0.09% | −0.04 |
| UPS United Parcel Service Class B | Reduce -2.8% | 0.11% | −0.04 |
| EMR Emerson Electric Co. | Reduce -0.3% | 0.40% | −0.04 |
| AFL Aflac Inc. | Reduce -3.3% | 0.76% | −0.03 |
| TSN Tyson Foods Inc. Class A | Reduce -17.2% | 0.07% | −0.02 |
| FICO Fair Isaac Corp. | Reduce -47.6% | 0.02% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -0.4% | 0.33% | −0.02 |
| TRV The Travelers Cos Inc. | Reduce -0.1% | 0.68% | −0.02 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -0.2% | 0.14% | −0.02 |
| WMT Walmart Inc. | Reduce -1.1% | 0.56% | −0.01 |
| AXP American Express Co. | Reduce -4.2% | 0.20% | −0.01 |
| SYY Sysco Corp. | Reduce -9.6% | 0.16% | −0.01 |
| SOLV Solventum Corp. | Reduce -20.0% | 0.03% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.6% | 0.44% | −0.01 |
| CE Celanese Corp. | Reduce -43.1% | 0.01% | −0.01 |
| AMCR Amcor PLC | Reduce -5.0% | 0.04% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -4.2% | 0.07% | −0.01 |
| CMF iShares California Muni Bond | Reduce -36.9% | 0.01% | −0.01 |
| CLX Clorox Company | Reduce -7.8% | 0.07% | −0.01 |
| BND Vanguard Total Bond Market | Reduce -13.6% | 0.04% | −0.01 |
| EFA iShares MSCI Eafe ETF | Reduce -0.1% | 0.32% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.1% | 2.42% | −0.01 |
| CAG Conagra Brands Inc. | Reduce -3.3% | 0.03% | −0.01 |
| SBUX Starbucks Corp. | Reduce -0.2% | 0.05% | −0.01 |
| SJM The JM Smucker Co. | Reduce -19.2% | 0.03% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.3% | 0.16% | −0.01 |
| TIP iShares Tips Bond ETF | Reduce -0.1% | 0.09% | −0.01 |
| WMB Williams Cos Inc. | Reduce -0.1% | 0.08% | −0.01 |
| PFG Principal Financial Group | Reduce -8.2% | 0.04% | −0.01 |
| KNF Knife River Corp. | Reduce -10.5% | 0.02% | −0.00 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -0.1% | 0.08% | −0.00 |
| COP Conocophillips | Reduce -1.5% | 0.11% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| HSY The Hershey Co. | Add +62.2% | 0.96% | +0.40 |
| UNH Unitedhealth Group Inc. | Add +10.5% | 2.66% | +0.33 |
| GOOGL Alphabet Inc. Class A | Add +2.0% | 0.30% | +0.07 |
| APH Amphenol Corp. Class A | Add +0.0% | 0.44% | +0.06 |
| XEL Xcel Energy Inc. | Add +0.0% | 0.63% | +0.06 |
| IEFA iShares Core MSCI Eafe ETF | Add +18.0% | 0.40% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +9.9% | 0.55% | +0.05 |
| PEP Pepsico Inc. | Add +4.5% | 1.43% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +0.3% | 0.23% | +0.05 |
| NEE Nextera Energy Inc. | Add +20.7% | 0.26% | +0.05 |
| BDX Becton Dickinson and Co. | Add +3.5% | 0.90% | +0.04 |
| ROST Ross Stores Inc. | Add +0.0% | 0.28% | +0.03 |
| NVDA Nvidia Corp. | Add +2.0% | 0.26% | +0.03 |
| USB US Bancorp | Add +2.4% | 1.26% | +0.03 |
| IJR iShares Core S&P Small-Cap E | Add +4.4% | 0.42% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +27.8% | 0.09% | +0.02 |
| MS Morgan Stanley | Add +0.0% | 0.38% | +0.02 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.02% | +0.02 |
| IWN iShares Russell 2000 Value E | New | 0.02% | +0.02 |
| CVX Chevron Corp. | Add +0.1% | 1.38% | +0.02 |
| FNDX Schwab Fndmntl US LRG Co. ETF | New | 0.02% | +0.02 |
| VT Vanguard Tot World STK ETF | New | 0.02% | +0.02 |
| IDCC Interdigital Inc. | New | 0.02% | +0.02 |
| HDV iShares Core High Dividend E | New | 0.02% | +0.02 |
| MU Micron Technology Inc. | New | 0.02% | +0.02 |
| MUB iShares National Muni Bond E | New | 0.02% | +0.02 |
| VLTO Veralto Corp. | New | 0.02% | +0.02 |
| DTM DT Midstream Inc. | New | 0.02% | +0.02 |
| HUBB Hubbell Inc. | New | 0.02% | +0.02 |
| CSX CSX Corp. | New | 0.02% | +0.02 |
| SCHX Schwab US Large-Cap ETF | New | 0.02% | +0.02 |
| LMT Lockheed Martin Corp. | New | 0.02% | +0.02 |
| PYPL PayPal Holdings Inc. | New | 0.01% | +0.01 |
| APA Apa Corp. | Add +0.0% | 0.07% | +0.01 |
| GLD SPDR Gold Shares | New | 0.01% | +0.01 |
| BSCP Invesco Bulletshares 2025 CB | New | 0.01% | +0.01 |
| IJH iShares Core S&P Midcap ETF | Add +4.9% | 0.46% | +0.01 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | New | 0.01% | +0.01 |
| ATR Aptargroup Inc. | New | 0.01% | +0.01 |
| BAB Invesco Taxable Municipal Bo | New | 0.01% | +0.01 |
| SMCI Super Micro Computer Inc. | New | 0.01% | +0.01 |
| NVT Nvent Electric PLC | Add +3.3% | 0.06% | +0.01 |
| AEP American Electric Power | New | 0.01% | +0.01 |
| IUSG iShares Core S&P U.S. Growth | New | 0.01% | +0.01 |
| EEM iShares MSCI Emerging Market | New | 0.01% | +0.01 |
| DXJ Wisdomtree Japan Hedged Eq | New | 0.01% | +0.01 |
| DSI iShares ESG MSCI KLD 400 ETF | New | 0.01% | +0.01 |
| HPE Hewlett Packard Enterprise | New | 0.01% | +0.01 |
| GOVT iShares US Treasury Bond ETF | New | 0.01% | +0.01 |
| RPM RPM International Inc. | New | 0.01% | +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 |