Sage Investment Counsel LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), Sage Investment Counsel LLC reported 119 stock positions worth $78.9 million. Its top holding was Pinnacle Financial Partners (PNFP) at 10.2% of the portfolio, followed by Apple (AAPL, 5.6%) and Berkshire Hathaway Class A (BRK.A, 4.0%). Compared with Q4 2024, it opened 12 new positions, sold out of 13, added to 39 and reduced 36. The biggest buy was a new position in Uber Technologies (UBER) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
Franklin, TN
CIK
0002055178
Portfolio Value
$78.9M (Q1 2025)
SEC Filing
0001085146-25-002268 ↗ filed Apr 23, 2025

Holdings Value

0$20.0M$40.0M$60.0M$80.0M$100.0M Q4 2024: $76.7M Q4 2024 Q1 2025: $78.9M $78.9M Q1 2025 Q2 2025: $86.3M Q2 2025 Q3 2025: $90.3M Q3 2025 Q4 2025: $90.9M Q4 2025 Q1 2026: $90.1M Q1 2026 Q2 2026: $99.9M Q2 2026

Holdings 119 stocks · $78.9M
PNFP Pinnacle Financial Partners 10.19% 75,802 $8.0M Add +0.0%
AAPL Apple Inc. 5.65% 20,059 $4.5M Reduce -1.2%
BRK.A Berkshire Hathaway Inc. Class A 4.05% 4 $3.2M No change
BRK.B Berkshire Hathaway Inc. Class B 3.27% 4,845 $2.6M Reduce -0.2%
ET Energy Transfer LP 3.18% 135,075 $2.5M Reduce -1.5%
V Visa Inc. Class A 2.28% 5,133 $1.8M No change
BN Brookfield Corp. 2.16% 32,583 $1.7M Add +131.3%
EPD Enterprise Products Partners 1.95% 44,941 $1.5M Add +0.1%
HHH Howard Hughes Holdings Inc. 1.80% 19,205 $1.4M Add +108.9%
TFSL TFS Financial Corp. 1.80% 114,554 $1.4M Add +6.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.70% 32,166 $1.3M Reduce -24.3%
JPM JPMorgan Chase & Co. 1.70% 5,452 $1.3M Reduce -2.1%
MSFT Microsoft Corp. 1.59% 3,339 $1.3M Reduce -0.3%
ENB Enbridge Inc. 1.50% 26,767 $1.2M No change
VT Vanguard Tot World STK ETF 1.50% 10,187 $1.2M Reduce -3.4%
BIP Brookfield Infrastructure Pa 1.43% 37,803 $1.1M Add +0.8%
CB Chubb Ltd. 1.41% 3,677 $1.1M Add +51.6%
UBER Uber Technologies Inc. 1.37% 14,794 $1.1M New
VBR Vngrd Mrngst SL-CP Val ETF-U 1.37% 5,782 $1.1M Reduce -8.9%
DG Dollar General Corp. 1.35% 12,068 $1.1M Add +27.4%
NKE Nike Inc. Class B 1.28% 15,904 $1.0M Add +69.1%
O Realty Income Corp. 1.23% 16,687 $968K Reduce -0.5%
XOM Exxon Mobil Corp. 1.21% 8,016 $953K Reduce -16.2%
VTI VG Morningstar TS MKT ETF-US 1.20% 3,457 $950K Reduce -7.2%
RYAAY Ryanair Holdings PLC-SP ADR 1.16% 21,569 $914K New
EUSA iShares MSCI USA Equal Weigh 1.14% 9,609 $899K Add +10.4%
SNX TD Synnex Corp. 1.09% 8,294 $862K Add +51.1%
VOO Vanguard S&P 500 ETF 1.06% 1,625 $835K Reduce -7.1%
AZO AutoZone Inc. 0.99% 205 $782K No change
DVA Davita Inc. 0.96% 4,971 $760K Reduce -19.5%
SIRI Sirius XM Holdings Inc. 0.91% 31,865 $718K Add +15.8%
FLG Flagstar Bank NA 0.89% 60,689 $705K Add +26.1%
CAT Caterpillar Inc. 0.87% 2,074 $684K Add +3.0%
VNQ Vanguard Real Estate ETF 0.87% 7,538 $682K Reduce -2.5%
HD Home Depot Inc. 0.86% 1,857 $681K No change
JHG Janus Henderson Group PLC 0.83% 18,013 $651K Reduce -2.6%
OMF Onemain Holdings Inc. 0.79% 12,804 $626K Reduce -0.1%
BABA Alibaba Group Holding-SP ADR 0.77% 4,569 $604K Reduce -3.5%
META Meta Platforms Inc. Class A 0.76% 1,045 $603K No change
OXY Occidental Petroleum Corp. 0.76% 12,141 $599K Add +20.2%
TSLX Sixth Street Specialty Lendi 0.75% 26,277 $588K Add +0.2%
RTX RTX Corp. 0.72% 4,278 $567K Reduce -10.4%
OMAB Grupo Aeroportuario Cen-ADR 0.70% 7,000 $550K No change
RITM Rithm Capital Corp. 0.69% 47,700 $546K Reduce -3.3%
PAC Grupo Aeroportuario Pac-ADR 0.64% 2,740 $508K No change
USB US Bancorp 0.64% 12,032 $508K Add +0.1%
BEP Brookfield Renewable Partner 0.62% 21,925 $486K Add +2.3%
DFS Discover Financial Services 0.60% 2,790 $476K Reduce -47.1%
CP Canadian Pacific Kansas City 0.57% 6,442 $452K Add +105.4%
SCHD Schwab US DVD Equity ETF 0.57% 16,162 $452K Add +63.0%
VXUS Vanguard Total Intl Stock 0.56% 7,156 $444K Reduce -22.6%
ABR Arbor Realty Trust Inc. 0.55% 37,100 $436K No change
HR Healthcare Realty Trust Inc. 0.55% 25,529 $431K Add +0.3%
CNQ Canadian Natural Resources 0.54% 13,800 $425K No change
BUR Burford Capital Ltd. 0.54% 32,000 $423K No change
LOW Lowe's Cos Inc. 0.53% 1,801 $420K No change
SPHQ Invesco S&P 500 Quality ETF 0.52% 6,186 $410K Add +42.4%
VCIT Vanguard Int-Term Corporate 0.52% 5,005 $409K New
RIET Hoya Capital Hi DVD YLD ETF 0.51% 40,048 $402K Add +7.7%
VCLT Vanguard Long-Term Corp. Bond 0.51% 5,265 $400K New
VWO Vanguard Ftse Emerging Marke 0.50% 8,657 $392K Add +12.1%
ABEV Ambev SA-ADR 0.49% 165,500 $386K Add +49.8%
WTM White Mountains Insurance GP 0.49% 200 $385K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.49% 3,881 $383K Reduce -7.2%
FDX FedEx Corp. 0.48% 1,550 $378K No change
CSCO Cisco Systems Inc. 0.47% 5,967 $368K Reduce -0.5%
BXSL Blackstone Secured Lending F 0.46% 11,174 $362K Add +0.1%
ADC Agree Realty Corp. 0.46% 4,683 $362K Add +0.3%
APO Apollo Global Management Inc. 0.45% 2,590 $355K Reduce -16.2%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.45% 10,835 $353K Add +10.3%
MA Mastercard Inc. Class A 0.44% 635 $348K No change
ELV Elevance Health Inc. 0.44% 792 $344K Reduce -9.0%
MTB M & T Bank Corp. filed as M & T BK CORP 0.42% 1,837 $328K Add +0.1%
ARE Alexandria Real Estate Equit 0.41% 3,526 $326K Reduce -4.8%
SU Suncor Energy Inc. 0.41% 8,400 $325K No change
KOF Coca-Cola Femsa Sab-SP ADR 0.41% 3,500 $320K No change
FCX Freeport-McMoran Inc. 0.40% 8,300 $314K Reduce -3.9%
UNP Union Pacific Corp. 0.39% 1,318 $311K No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.39% 16,041 $310K Add +0.2%
UL Unilever PLC 0.39% 5,100 $304K Reduce -33.4%
ARCC Ares Capital Corp. 0.38% 13,420 $297K Add +0.2%
VZ Verizon Communications Inc. 0.37% 6,389 $290K Reduce -9.0%
TFC Truist Financial Corp. 0.36% 6,992 $288K Reduce -23.9%
WMT Walmart Inc. 0.34% 3,078 $270K Reduce -19.0%
RF Regions Financial Corp. 0.34% 12,416 $270K Add +0.2%
SWX Southwest Gas Holdings Inc. 0.34% 3,702 $266K Reduce -3.9%
SAFE Safehold Inc. 0.33% 14,100 $264K Add +40.4%
FDVV Fidelity High Dividend ETF 0.33% 5,207 $258K Add +1.9%
LMT Lockheed Martin Corp. 0.33% 575 $257K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.32% 1,444 $250K New
FDUS Fidus Investment Corp. 0.31% 12,070 $246K Add +0.1%
CVX Chevron Corp. 0.30% 1,403 $235K Reduce -6.7%
DEO Diageo PLC-Sponsored ADR 0.29% 2,200 $231K New
JOE The St Joe Co. 0.28% 4,700 $221K New
BUI Blckrck Util Infra & PWR Opp filed as BLACKROCK UTILS INFRASTRUCTU 0.28% 9,693 $219K No change
PG The Procter & Gamble Co. 0.28% 1,287 $219K No change
LADR Ladder Capital Corp.-REIT 0.27% 18,879 $215K Add +0.3%
LAD Lithia Motors Inc. 0.26% 700 $205K Reduce -16.2%
OKE Oneok Inc. 0.26% 2,031 $202K No change
F Ford Motor Co. filed as FORD MTR CO 0.25% 19,700 $198K Reduce -12.4%
CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS 0.24% 12,300 $187K Reduce -16.9%
CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A 0.24% 10,200 $187K Add +2.0%
OBDC Blue Owl Capital Corp. 0.23% 12,311 $180K Add +0.3%
PNNT Pennantpark Investment Corp. 0.18% 20,000 $141K Add +11.1%
RKT Rocket Cos Inc. Class A 0.15% 10,000 $121K New
EC Ecopetrol SA-Sponsored ADR 0.15% 11,500 $120K No change
LE Lands' End Inc. 0.14% 11,225 $114K New
LYG Lloyds Banking Group PLC-ADR 0.14% 28,000 $107K No change
TAC Transalta Corp. 0.13% 11,000 $103K No change
SB Safe Bulkers Inc. 0.12% 25,000 $92K No change
CLF Cleveland-Cliffs Inc. 0.11% 11,000 $90K New
AHRT Ah Realty Trust Inc. filed as ARMADA HOFFLER PPTYS INC 0.11% 12,000 $90K New
MPT Medical Properties Trust Inc. 0.09% 12,130 $73K New
AVAL Grupo Aval Acciones Y Valore 0.07% 20,000 $55K No change
UROY Uranium Royalty Corp. 0.06% 25,000 $44K No change
EMX Emx Royalty Corp. filed as EMX RTY CORP 0.04% 15,000 $31K No change
LAC Lithium Americas Corp. 0.03% 10,000 $27K No change
SGRP Spar Group Inc. 0.03% 15,000 $20K No change
SMRT Smartrent Inc. 0.02% 10,000 $12K No change

Portfolio Sells Q4 2024 → Q1 2025
AAPL Apple Inc. Reduce -1.2% 5.65% −0.98
BAC Bank of America Corp. Reduce -24.3% 1.70% −0.73
NVDA Nvidia Corp. Sold out 0.00% −0.63
DFS Discover Financial Services Reduce -47.1% 0.60% −0.59
MDT Medtronic PLC Sold out 0.00% −0.58
CHTR Charter Communications Inc. Class A Sold out 0.00% −0.50
LNG Cheniere Energy Inc. Sold out 0.00% −0.34
C Citigroup Inc. Sold out 0.00% −0.34
PYPL PayPal Holdings Inc. Sold out 0.00% −0.32
ET Energy Transfer LP Reduce -1.5% 3.18% −0.32
AVGO Broadcom Inc. Sold out 0.00% −0.30
GOOGL Alphabet Inc. Class A Sold out 0.00% −0.29
BX Blackstone Inc. Sold out 0.00% −0.28
PFE Pfizer Inc. Sold out 0.00% −0.28
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -8.9% 1.37% −0.27
MO Altria Group Inc. Sold out 0.00% −0.27
MSFT Microsoft Corp. Reduce -0.3% 1.59% −0.25
FPI Farmland Partners Inc. Sold out 0.00% −0.24
DVA Davita Inc. Reduce -19.5% 0.96% −0.24
APO Apollo Global Management Inc. Reduce -16.2% 0.45% −0.22
HNRG Hallador Energy Co. Sold out 0.00% −0.21
VTI VG Morningstar TS MKT ETF-US Reduce -7.2% 1.20% −0.20
JHG Janus Henderson Group PLC Reduce -2.6% 0.83% −0.20
UL Unilever PLC Reduce -33.4% 0.39% −0.18
VOO Vanguard S&P 500 ETF Reduce -7.1% 1.06% −0.17
TFC Truist Financial Corp. Reduce -23.9% 0.36% −0.15
VXUS Vanguard Total Intl Stock Reduce -22.6% 0.56% −0.15
XOM Exxon Mobil Corp. Reduce -16.2% 1.21% −0.13
LAD Lithia Motors Inc. Reduce -16.2% 0.26% −0.13
DIS The Walt Disney Co. Reduce -7.2% 0.49% −0.12
VT Vanguard Tot World STK ETF Reduce -3.4% 1.50% −0.12
WMT Walmart Inc. Reduce -19.0% 0.34% −0.10
OMF Onemain Holdings Inc. Reduce -0.1% 0.79% −0.08
ARE Alexandria Real Estate Equit Reduce -4.8% 0.41% −0.06
JPM JPMorgan Chase & Co. Reduce -2.1% 1.70% −0.05
F Ford Motor Co. Reduce -12.4% 0.25% −0.04
VNQ Vanguard Real Estate ETF Reduce -2.5% 0.87% −0.03
FCX Freeport-McMoran Inc. Reduce -3.9% 0.40% −0.03
SWX Southwest Gas Holdings Inc. Reduce -3.9% 0.34% −0.02
RITM Rithm Capital Corp. Reduce -3.3% 0.69% −0.00
RTX RTX Corp. Reduce -10.4% 0.72% −0.00
VZ Verizon Communications Inc. Reduce -9.0% 0.37% +0.00
CSCO Cisco Systems Inc. Reduce -0.5% 0.47% +0.00
CVX Chevron Corp. Reduce -6.7% 0.30% +0.01
ELV Elevance Health Inc. Reduce -9.0% 0.44% +0.02
CCU Cia Cervecerias Uni-Spon ADR Reduce -16.9% 0.24% +0.02
O Realty Income Corp. Reduce -0.5% 1.23% +0.06
BABA Alibaba Group Holding-SP ADR Reduce -3.5% 0.77% +0.24
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.2% 3.27% +0.40

Portfolio Buys Q4 2024 → Q1 2025
UBER Uber Technologies Inc. New 1.37% +1.37
RYAAY Ryanair Holdings PLC-SP ADR New 1.16% +1.16
BN Brookfield Corp. Add +131.3% 2.16% +1.11
HHH Howard Hughes Holdings Inc. Add +108.9% 1.80% +0.88
CB Chubb Ltd. Add +51.6% 1.41% +0.53
VCIT Vanguard Int-Term Corporate New 0.52% +0.52
VCLT Vanguard Long-Term Corp. Bond New 0.51% +0.51
DG Dollar General Corp. Add +27.4% 1.35% +0.41
NKE Nike Inc. Class B Add +69.1% 1.28% +0.35
VTV Vanguard Mrngstr Val ETF-Aui New 0.32% +0.32
FLG Flagstar Bank NA Add +26.1% 0.89% +0.31
DEO Diageo PLC-Sponsored ADR New 0.29% +0.29
JOE The St Joe Co. New 0.28% +0.28
CP Canadian Pacific Kansas City Add +105.4% 0.57% +0.28
SNX TD Synnex Corp. Add +51.1% 1.09% +0.25
ABEV Ambev SA-ADR Add +49.8% 0.49% +0.22
SCHD Schwab US DVD Equity ETF Add +63.0% 0.57% +0.22
RKT Rocket Cos Inc. Class A New 0.15% +0.15
LE Lands' End Inc. New 0.14% +0.14
SPHQ Invesco S&P 500 Quality ETF Add +42.4% 0.52% +0.14
CLF Cleveland-Cliffs Inc. New 0.11% +0.11
AHRT Ah Realty Trust Inc. New 0.11% +0.11
EPD Enterprise Products Partners Add +0.1% 1.95% +0.11
OXY Occidental Petroleum Corp. Add +20.2% 0.76% +0.11
SIRI Sirius XM Holdings Inc. Add +15.8% 0.91% +0.09
SAFE Safehold Inc. Add +40.4% 0.33% +0.09
MPT Medical Properties Trust Inc. New 0.09% +0.09
VICI Vici Properties Inc. Add +10.3% 0.45% +0.07
EUSA iShares MSCI USA Equal Weigh Add +10.4% 1.14% +0.06
VWO Vanguard Ftse Emerging Marke Add +12.1% 0.50% +0.05
TFSL TFS Financial Corp. Add +6.2% 1.80% +0.03
ADC Agree Realty Corp. Add +0.3% 0.46% +0.03
RIET Hoya Capital Hi DVD YLD ETF Add +7.7% 0.51% +0.02
TSLX Sixth Street Specialty Lendi Add +0.2% 0.75% +0.02
PNNT Pennantpark Investment Corp. Add +11.1% 0.18% +0.01
LADR Ladder Capital Corp.-REIT Add +0.3% 0.27% −0.00
ARCC Ares Capital Corp. Add +0.2% 0.38% −0.01
FDVV Fidelity High Dividend ETF Add +1.9% 0.33% −0.01
CAAP Corp. America Airports SA Add +2.0% 0.24% −0.01
BXSL Blackstone Secured Lending F Add +0.1% 0.46% −0.01
OBDC Blue Owl Capital Corp. Add +0.3% 0.23% −0.01
HR Healthcare Realty Trust Inc. Add +0.3% 0.55% −0.02
FDUS Fidus Investment Corp. Add +0.1% 0.31% −0.02
CTO Cto Realty Growth Inc. Add +0.2% 0.39% −0.02
BEP Brookfield Renewable Partner Add +2.3% 0.62% −0.02
MTB M & T Bank Corp. Add +0.1% 0.42% −0.03
RF Regions Financial Corp. Add +0.2% 0.34% −0.04
CAT Caterpillar Inc. Add +3.0% 0.87% −0.08
USB US Bancorp Add +0.1% 0.64% −0.11
BIP Brookfield Infrastructure Pa Add +0.8% 1.43% −0.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 126$99.9MPNFP, AAPL, BRK.A, V, ET
Q1 2026 127$90.1MPNFP, AAPL, BRK.A, ET, BN
Q4 2025 123$90.9MPNFP, AAPL, BRK.A, BN, ET
Q3 2025 123$90.3MPNFP, AAPL, BRK.A, BN, BRK.B
Q2 2025 122$86.3MPNFP, AAPL, BRK.A, ET, BRK.B
Q1 2025 119$78.9MPNFP, AAPL, BRK.A, BRK.B, ET
Q4 2024 120$76.7MPNFP, AAPL, BRK.A, ET, BRK.B