Physicians Financial Services, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Physicians Financial Services, Inc. reported 107 stock positions worth $372.7 million. Its top holding was Apple (AAPL) at 15.4% of the portfolio, followed by Nvidia (NVDA, 6.7%) and Alphabet Class A (GOOGL, 6.5%). Compared with Q3 2025, it opened 1 new position, sold out of 2, added to 7 and reduced 73. The biggest buy was Eli Lilly (LLY, shares +3%) and the biggest sale Microsoft (MSFT, shares −2%).

Most Recent 13F
Q2 2026
Location
RALEIGH, NC
CIK
0001665518
Portfolio Value
$372.7M (Q4 2025)
SEC Filing
0001665518-26-000001 ↗ filed Jan 21, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $284.0M Q1 2024 Q2 2024: $307.5M Q2 2024 Q3 2024: $321.6M Q3 2024 Q4 2024: $329.4M Q4 2024 Q1 2025: $314.5M Q1 2025 Q2 2025: $335.7M Q2 2025 Q3 2025: $366.3M Q3 2025 Q4 2025: $372.7M $372.7M Q4 2025 Q1 2026: $365.2M Q1 2026 Q2 2026: $400.7M Q2 2026

Holdings 107 stocks · $372.7M
AAPL Apple Inc. 15.38% 210,839 $57.3M Reduce -1.8%
NVDA Nvidia Corp. 6.74% 134,672 $25.1M Reduce -3.8%
GOOGL Alphabet Inc. Class A 6.45% 76,846 $24.1M Reduce -2.0%
AMZN Amazon.com Inc. 6.13% 98,963 $22.8M Reduce -0.9%
MSFT Microsoft Corp. 5.36% 41,285 $20.0M Reduce -1.5%
WMT Walmart Inc. 4.70% 157,303 $17.5M Reduce -1.3%
CAT Caterpillar Inc. 2.91% 18,949 $10.9M Reduce -1.8%
MA Mastercard Inc. Class A 2.76% 18,008 $10.3M Reduce -1.2%
META Meta Platforms Inc. Class A 2.31% 13,051 $8.6M Reduce -0.9%
CMI Cummins Inc. 1.67% 12,217 $6.2M Reduce -2.5%
MCD McDonald's Corp. 1.65% 20,088 $6.1M Reduce -0.9%
V Visa Inc. Class A 1.59% 16,918 $5.9M Reduce -0.3%
ADP Automatic Data Processing 1.55% 22,508 $5.8M Reduce -0.2%
CVX Chevron Corp. 1.54% 37,783 $5.8M Reduce -4.0%
COST Costco Wholesale Corp. 1.52% 6,572 $5.7M Reduce -1.4%
AMGN Amgen Inc. 1.50% 17,092 $5.6M Reduce -0.8%
LOW Lowe's Cos Inc. 1.46% 22,599 $5.5M Reduce -0.9%
AVGO Broadcom Inc. 1.45% 15,615 $5.4M Reduce -3.3%
PH Parker Hannifin Corp. 1.38% 5,835 $5.1M Reduce -0.7%
JNJ Johnson & Johnson 1.30% 23,479 $4.9M Reduce -0.5%
ORCL Oracle Corp. 1.25% 23,893 $4.7M No change
BRK.B Berkshire Hathaway Inc. Class B 1.22% 9,040 $4.5M Reduce -0.7%
LLY Eli Lilly & Co. 1.18% 4,098 $4.4M Add +2.5%
KO The Coca-Cola Co. 1.14% 60,586 $4.2M Reduce -0.6%
DUK Duke Energy Corp. 1.10% 35,047 $4.1M Reduce -2.4%
HD Home Depot Inc. 1.09% 11,773 $4.1M Reduce -1.7%
LMT Lockheed Martin Corp. 0.96% 7,415 $3.6M Reduce -1.1%
PG The Procter & Gamble Co. 0.94% 24,355 $3.5M Reduce -1.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.80% 10,087 $3.0M Reduce -2.0%
PEP Pepsico Inc. 0.79% 20,407 $2.9M Reduce -3.2%
QCOM Qualcomm Inc. 0.76% 16,465 $2.8M Reduce -1.5%
ABBV Abbvie Inc. 0.73% 11,850 $2.7M Reduce -1.9%
RTX RTX Corp. 0.69% 14,024 $2.6M Reduce -2.5%
ADBE Adobe Inc. 0.68% 7,236 $2.5M Reduce -6.8%
JPM JPMorgan Chase & Co. 0.67% 7,777 $2.5M Reduce -1.1%
CSCO Cisco Systems Inc. 0.66% 32,101 $2.5M No change
GOOG Alphabet Inc. Class C 0.65% 7,760 $2.4M No change
DE Deere & Co. 0.62% 4,964 $2.3M Reduce -3.9%
MMM 3M Co. 0.61% 14,297 $2.3M Reduce -3.3%
ETN Eaton Corp. PLC 0.54% 6,363 $2.0M Reduce -3.3%
HSY The Hershey Co. 0.48% 9,908 $1.8M Reduce -6.4%
FDX FedEx Corp. 0.47% 6,034 $1.7M Add +0.7%
NVS Novartis AG-Sponsored ADR 0.45% 12,284 $1.7M Reduce -1.2%
TFC Truist Financial Corp. 0.45% 34,315 $1.7M Reduce -1.9%
AMD Advanced Micro Devices 0.45% 7,883 $1.7M No change
ITW Illinois Tool Works 0.42% 6,352 $1.6M Reduce -1.6%
EQIX Equinix Inc. 0.41% 1,971 $1.5M No change
GEV GE Vernova Inc. 0.38% 2,166 $1.4M Reduce -2.3%
AXP American Express Co. 0.38% 3,815 $1.4M No change
UNP Union Pacific Corp. 0.35% 5,694 $1.3M Reduce -1.3%
PM Philip Morris International 0.34% 7,991 $1.3M Reduce -0.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.34% 22,994 $1.3M Reduce -3.0%
LRCX Lam Research Corp. 0.31% 6,730 $1.2M No change
TXN Texas Instruments Inc. 0.31% 6,599 $1.1M Reduce -6.4%
MRK Merck & Co. Inc. 0.31% 10,860 $1.1M Reduce -1.4%
MAR Marriott International Class A 0.30% 3,575 $1.1M Reduce -2.0%
FCNCA First Citizens Bcshs Class A 0.29% 510 $1.1M Reduce -7.3%
NUE Nucor Corp. 0.29% 6,575 $1.1M Reduce -3.0%
PLTR Palantir Technologies Inc. Class A 0.28% 5,782 $1.0M Add +7.4%
TM Toyota Motor Corp. -Spon ADR 0.27% 4,697 $1.0M Reduce -2.1%
TSLA Tesla Inc. 0.27% 2,221 $999K Add +3.5%
TGT Target Corp. 0.26% 9,978 $975K Reduce -9.6%
NFLX Netflix Inc. 0.24% 9,670 $907K Reduce -3.0%
NKE Nike Inc. Class B 0.24% 13,953 $889K Reduce -12.7%
UBER Uber Technologies Inc. 0.23% 10,661 $871K Reduce -1.8%
VGT Vanguard Info Tech ETF 0.23% 1,135 $855K No change
SYK Stryker Corp. 0.22% 2,371 $833K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.21% 7,821 $801K Reduce -6.3%
BRK.A Berkshire Hathaway Inc. Class A 0.20% 1 $755K No change
BA The Boeing Co. 0.20% 3,375 $733K Add +1.5%
AFL Aflac Inc. 0.19% 6,586 $726K No change
AMAT Applied Materials Inc. 0.19% 2,758 $709K Reduce -9.8%
BMY Bristol-Myers Squibb Co. 0.18% 12,567 $678K Reduce -2.6%
SHW The Sherwin-Williams Co. 0.18% 2,090 $677K Reduce -1.4%
ABT Abbott Laboratories 0.18% 5,240 $657K No change
SBUX Starbucks Corp. 0.17% 7,619 $642K Reduce -0.2%
VZ Verizon Communications Inc. 0.17% 15,255 $621K Reduce -9.6%
EMR Emerson Electric Co. 0.16% 4,609 $612K No change
UL Unilever PLC 0.15% 8,828 $577K Reduce -13.0%
APA Apa Corp. 0.13% 20,000 $489K No change
NOC Northrop Grumman Corp. 0.13% 840 $479K Reduce -4.0%
CMG Chipotle Mexican Grill Inc. 0.12% 12,445 $460K Reduce -25.8%
GE General Electric filed as GE AEROSPACE 0.12% 1,420 $437K No change
VEEV Veeva Systems Inc. Class A 0.11% 1,890 $422K No change
PAYX Paychex Inc. 0.11% 3,702 $415K No change
PANW Palo Alto Networks Inc. 0.11% 2,171 $400K Reduce -7.7%
CLX Clorox Company 0.10% 3,634 $366K Reduce -4.1%
MKC McCormick & Co.-Non VTG SHRS 0.10% 5,299 $361K Reduce -20.9%
DAL Delta Air Lines Inc. 0.10% 5,100 $354K No change
PFE Pfizer Inc. 0.09% 13,575 $338K Reduce -2.2%
REGN Regeneron Pharmaceuticals 0.08% 400 $309K No change
SCHW Schwab (charles) Corp. 0.08% 3,050 $305K Reduce -9.0%
LH Labcorp Holdings Inc. 0.08% 1,202 $302K No change
CHD Church & Dwight Co. Inc. 0.08% 3,553 $298K Add +0.0%
COP Conocophillips 0.07% 2,982 $279K Reduce -3.2%
XLE SS Energy Select Sector 0.07% 6,178 $276K New
XOM Exxon Mobil Corp. 0.07% 2,097 $252K Add +5.6%
INTU Intuit Inc. 0.07% 381 $252K Reduce -6.2%
TEL Te Connectivity PLC 0.07% 1,102 $251K No change
BDX Becton Dickinson and Co. 0.07% 1,250 $243K Reduce -17.8%
CHKP Check Point Software Tech 0.06% 1,290 $239K No change
PKG Packaging Corp. of America 0.06% 1,150 $237K No change
GPC Genuine Parts Co. 0.06% 1,920 $236K No change
RY Royal Bank of Canada 0.06% 1,379 $235K No change
GIS General Mills Inc. 0.06% 4,897 $228K Reduce -24.6%
NSC Norfolk Southern Corp. 0.06% 775 $224K Reduce -6.1%
GNRC Generac Holdings Inc. 0.06% 1,500 $205K No change

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -1.5% 5.36% −0.57
NVDA Nvidia Corp. Reduce -3.8% 6.74% −0.39
META Meta Platforms Inc. Class A Reduce -0.9% 2.31% −0.33
ADP Automatic Data Processing Reduce -0.2% 1.55% −0.25
HD Home Depot Inc. Reduce -1.7% 1.09% −0.24
COST Costco Wholesale Corp. Reduce -1.4% 1.52% −0.16
ETN Eaton Corp. PLC Reduce -3.3% 0.54% −0.13
CVX Chevron Corp. Reduce -4.0% 1.54% −0.12
DUK Duke Energy Corp. Reduce -2.4% 1.10% −0.11
LOW Lowe's Cos Inc. Reduce -0.9% 1.46% −0.10
PG The Procter & Gamble Co. Reduce -1.5% 0.94% −0.10
NFLX Netflix Inc. Reduce -3.0% 0.24% −0.08
MA Mastercard Inc. Class A Reduce -1.2% 2.76% −0.07
ADBE Adobe Inc. Reduce -6.8% 0.68% −0.07
NKE Nike Inc. Class B Reduce -12.7% 0.24% −0.07
LMT Lockheed Martin Corp. Reduce -1.1% 0.96% −0.06
HON Honeywell International Inc. Sold out 0.00% −0.06
ZBH Zimmer Biomet Holdings Inc. Sold out 0.00% −0.06
HSY The Hershey Co. Reduce -6.4% 0.48% −0.06
UBER Uber Technologies Inc. Reduce -1.8% 0.23% −0.06
CMG Chipotle Mexican Grill Inc. Reduce -25.8% 0.12% −0.06
TXN Texas Instruments Inc. Reduce -6.4% 0.31% −0.05
ITW Illinois Tool Works Reduce -1.6% 0.42% −0.04
ABBV Abbvie Inc. Reduce -1.9% 0.73% −0.04
VZ Verizon Communications Inc. Reduce -9.6% 0.17% −0.04
MCD McDonald's Corp. Reduce -0.9% 1.65% −0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 1.22% −0.03
CLX Clorox Company Reduce -4.1% 0.10% −0.03
GIS General Mills Inc. Reduce -24.6% 0.06% −0.03
MKC McCormick & Co.-Non VTG SHRS Reduce -20.9% 0.10% −0.03
DE Deere & Co. Reduce -3.9% 0.62% −0.02
PANW Palo Alto Networks Inc. Reduce -7.7% 0.11% −0.02
PEP Pepsico Inc. Reduce -3.2% 0.79% −0.02
TROW T Rowe Price Group Inc. Reduce -6.3% 0.21% −0.02
UNP Union Pacific Corp. Reduce -1.3% 0.35% −0.02
SHW The Sherwin-Williams Co. Reduce -1.4% 0.18% −0.02
NOC Northrop Grumman Corp. Reduce -4.0% 0.13% −0.02
BDX Becton Dickinson and Co. Reduce -17.8% 0.07% −0.01
MMM 3M Co. Reduce -3.3% 0.61% −0.01
PM Philip Morris International Reduce -0.5% 0.34% −0.01
UL Unilever PLC Reduce -13.0% 0.15% −0.01
TGT Target Corp. Reduce -9.6% 0.26% −0.01
INTU Intuit Inc. Reduce -6.2% 0.07% −0.01
NSC Norfolk Southern Corp. Reduce -6.1% 0.06% −0.01
PFE Pfizer Inc. Reduce -2.2% 0.09% −0.01
SCHW Schwab (charles) Corp. Reduce -9.0% 0.08% −0.01
AVGO Broadcom Inc. Reduce -3.3% 1.45% −0.01
JPM JPMorgan Chase & Co. Reduce -1.1% 0.67% −0.00
COP Conocophillips Reduce -3.2% 0.07% −0.00
SBUX Starbucks Corp. Reduce -0.2% 0.17% −0.00

Portfolio Buys Q3 2025 → Q4 2025
LLY Eli Lilly & Co. Add +2.5% 1.18% +0.35
FDX FedEx Corp. Add +0.7% 0.47% +0.08
XLE SS Energy Select Sector New 0.07% +0.07
PLTR Palantir Technologies Inc. Class A Add +7.4% 0.28% +0.01
TSLA Tesla Inc. Add +3.5% 0.27% +0.01
XOM Exxon Mobil Corp. Add +5.6% 0.07% +0.01
BA The Boeing Co. Add +1.5% 0.20% +0.00
CHD Church & Dwight Co. Inc. Add +0.0% 0.08% −0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 106$400.7MAAPL, GOOGL, AMZN, NVDA, CAT
Q1 2026 104$365.2MAAPL, NVDA, GOOGL, AMZN, WMT
Q4 2025 107$372.7MAAPL, NVDA, GOOGL, AMZN, MSFT
Q3 2025 108$366.3MAAPL, NVDA, AMZN, MSFT, GOOGL
Q2 2025 107$335.7MAAPL, NVDA, AMZN, MSFT, WMT
Q1 2025Amended 107$314.5MAAPL, AMZN, MSFT, NVDA, WMT
Q4 2024 105$329.4MAAPL, AMZN, NVDA, MSFT, GOOGL
Q3 2024 107$321.6MAAPL, MSFT, NVDA, AMZN, GOOGL
Q2 2024 108$307.5MAAPL, MSFT, NVDA, AMZN, GOOGL
Q1 2024 103$284.0MAAPL, MSFT, AMZN, GOOGL, NVDA