Sage Investment Counsel LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 22, 2025), Sage Investment Counsel LLC reported 122 stock positions worth $86.3 million. Its top holding was Pinnacle Financial Partners (PNFP) at 9.6% of the portfolio, followed by Apple (AAPL, 4.9%) and Berkshire Hathaway Class A (BRK.A, 3.4%). Compared with Q1 2025, it opened 15 new positions, sold out of 12, added to 46 and reduced 20. The biggest buy was a new position in Lennar Class A (LEN) and the biggest sale an exit from Nike Class B (NKE).

Most Recent 13F
Q2 2026
Location
Franklin, TN
CIK
0002055178
Portfolio Value
$86.3M (Q2 2025)
SEC Filing
0001085146-25-004032 ↗ filed Jul 22, 2025

Holdings Value

0$20.0M$40.0M$60.0M$80.0M$100.0M Q4 2024: $76.7M Q4 2024 Q1 2025: $78.9M Q1 2025 Q2 2025: $86.3M $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 122 stocks · $86.3M
PNFP Pinnacle Financial Partners 9.64% 75,291 $8.3M Reduce -0.7%
AAPL Apple Inc. 4.88% 20,536 $4.2M Add +2.4%
BRK.A Berkshire Hathaway Inc. Class A 3.38% 4 $2.9M No change
ET Energy Transfer LP 2.84% 135,075 $2.4M No change
BRK.B Berkshire Hathaway Inc. Class B 2.75% 4,890 $2.4M Add +0.9%
BN Brookfield Corp. 2.59% 36,078 $2.2M Add +10.7%
V Visa Inc. Class A 2.11% 5,133 $1.8M No change
HHH Howard Hughes Holdings Inc. 2.10% 26,775 $1.8M Add +39.4%
UBER Uber Technologies Inc. 2.04% 18,864 $1.8M Add +27.5%
MSFT Microsoft Corp. 1.90% 3,300 $1.6M Reduce -1.2%
JPM JPMorgan Chase & Co. 1.83% 5,452 $1.6M No change
DG Dollar General Corp. 1.76% 13,298 $1.5M Add +10.2%
TFSL TFS Financial Corp. 1.75% 116,647 $1.5M Add +1.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.68% 30,678 $1.5M Reduce -4.6%
RYAAY Ryanair Holdings PLC-SP ADR 1.65% 24,634 $1.4M Add +14.2%
EPD Enterprise Products Partners 1.63% 45,302 $1.4M Add +0.8%
LEN Lennar Corp. Class A 1.62% 12,670 $1.4M New
SPHQ Invesco S&P 500 Quality ETF 1.55% 18,743 $1.3M Add +203.0%
CB Chubb Ltd. 1.54% 4,595 $1.3M Add +25.0%
VT Vanguard Tot World STK ETF 1.54% 10,355 $1.3M Add +1.6%
SNX TD Synnex Corp. 1.54% 9,804 $1.3M Add +18.2%
BIP Brookfield Infrastructure Pa 1.47% 37,803 $1.3M No change
ENB Enbridge Inc. 1.41% 26,767 $1.2M No change
AMZN Amazon.com Inc. 1.37% 5,381 $1.2M New
VTI VG Morningstar TS MKT ETF-US 1.33% 3,761 $1.1M Add +8.8%
VOO Vanguard S&P 500 ETF 1.15% 1,745 $991K Add +7.4%
EUSA iShares MSCI USA Equal Weigh 1.12% 9,746 $966K Add +1.4%
O Realty Income Corp. 1.11% 16,637 $958K Reduce -0.3%
JHG Janus Henderson Group PLC 1.09% 24,153 $938K Add +34.1%
XOM Exxon Mobil Corp. 1.00% 8,017 $864K Add +0.0%
SIRI Sirius XM Holdings Inc. 0.94% 35,151 $807K Add +10.3%
CAT Caterpillar Inc. 0.93% 2,075 $805K Add +0.1%
AZO AutoZone Inc. 0.88% 205 $761K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.87% 3,855 $752K Reduce -33.3%
OMAB Grupo Aeroportuario Cen-ADR 0.86% 7,000 $739K No change
OMF Onemain Holdings Inc. 0.85% 12,804 $730K No change
FLG Flagstar Bank NA 0.79% 64,341 $682K Add +6.0%
HD Home Depot Inc. 0.79% 1,857 $681K No change
DVA Davita Inc. 0.78% 4,697 $669K Reduce -5.5%
PAC Grupo Aeroportuario Pac-ADR 0.73% 2,740 $629K No change
VNQ Vanguard Real Estate ETF 0.73% 7,026 $626K Reduce -6.8%
TSLX Sixth Street Specialty Lendi 0.73% 26,277 $626K No change
COF Capital One Financial Corp. 0.70% 2,857 $608K New
RITM Rithm Capital Corp. 0.66% 50,700 $572K Add +6.3%
BEP Brookfield Renewable Partner 0.65% 21,925 $559K No change
RTX RTX Corp. 0.64% 3,779 $552K Reduce -11.7%
META Meta Platforms Inc. Class A 0.64% 745 $550K Reduce -28.7%
USB US Bancorp 0.63% 12,045 $545K Add +0.1%
BABA Alibaba Group Holding-SP ADR 0.60% 4,569 $518K No change
VXUS Vanguard Total Intl Stock 0.58% 7,247 $501K Add +1.3%
BUR Burford Capital Ltd. 0.53% 32,000 $456K No change
OXY Occidental Petroleum Corp. 0.53% 10,852 $456K Reduce -10.6%
CNQ Canadian Natural Resources 0.50% 13,800 $433K No change
VWO Vanguard Ftse Emerging Marke 0.50% 8,686 $430K Add +0.3%
LOW Lowe's Cos Inc. 0.48% 1,880 $417K Add +4.4%
VCIT Vanguard Int-Term Corporate 0.48% 5,005 $415K No change
CSCO Cisco Systems Inc. 0.48% 5,969 $414K Add +0.0%
HR Healthcare Realty Trust Inc. 0.47% 25,629 $406K Add +0.4%
VCLT Vanguard Long-Term Corp. Bond 0.46% 5,265 $400K No change
ABEV Ambev SA-ADR 0.46% 165,500 $399K No change
RIET Hoya Capital Hi DVD YLD ETF 0.45% 41,044 $390K Add +2.5%
APO Apollo Global Management Inc. 0.43% 2,590 $367K No change
ADC Agree Realty Corp. 0.43% 5,028 $367K Add +7.4%
FCX Freeport-McMoran Inc. 0.42% 8,300 $360K No change
WTM White Mountains Insurance GP 0.42% 200 $359K No change
MA Mastercard Inc. Class A 0.41% 635 $357K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.41% 1,837 $356K No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.41% 10,847 $354K Add +0.1%
DEO Diageo PLC-Sponsored ADR 0.41% 3,500 $353K Add +59.1%
FDX FedEx Corp. 0.41% 1,550 $352K No change
BXSL Blackstone Secured Lending F 0.40% 11,195 $344K Add +0.2%
KOF Coca-Cola Femsa Sab-SP ADR 0.39% 3,500 $339K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.39% 2,681 $332K Reduce -30.9%
ELV Elevance Health Inc. 0.38% 847 $329K Add +6.9%
SCHD Schwab US DVD Equity ETF 0.37% 12,147 $322K Reduce -24.8%
SU Suncor Energy Inc. 0.36% 8,400 $315K No change
UNP Union Pacific Corp. 0.35% 1,318 $303K No change
WMT Walmart Inc. 0.35% 3,078 $301K No change
TFC Truist Financial Corp. 0.35% 6,993 $301K Add +0.0%
RF Regions Financial Corp. 0.34% 12,446 $293K Add +0.2%
VZ Verizon Communications Inc. 0.32% 6,375 $276K Reduce -0.2%
AVGO Broadcom Inc. 0.32% 990 $273K New
LMT Lockheed Martin Corp. 0.31% 575 $266K No change
NVDA Nvidia Corp. 0.31% 1,684 $266K New
HTZ Hertz Global Hldgs Inc. 0.31% 38,725 $264K New
VTV Vanguard Mrngstr Val ETF-Aui 0.30% 1,455 $257K Add +0.8%
SAFE Safehold Inc. 0.30% 16,400 $255K Add +16.3%
ARCC Ares Capital Corp. 0.29% 11,420 $251K Reduce -14.9%
BUI Blckrck Util Infra & PWR Opp filed as BLACKROCK UTILS INFRASTRUCTU 0.29% 9,693 $250K No change
ARE Alexandria Real Estate Equit 0.29% 3,409 $248K Reduce -3.3%
FDUS Fidus Investment Corp. 0.28% 12,070 $244K No change
JOE The St Joe Co. 0.28% 5,000 $239K Add +6.4%
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.27% 13,700 $236K Reduce -14.6%
LADR Ladder Capital Corp.-REIT 0.27% 21,948 $236K Add +16.3%
GOOGL Alphabet Inc. Class A 0.26% 1,285 $227K New
SCHG Schwab US Large-Cap Growth 0.25% 7,465 $218K New
BSV Vanguard Short-Term Bond ETF 0.25% 2,710 $213K New
ECL Ecolab Inc. 0.24% 780 $210K New
NTR Nutrien Ltd. 0.24% 3,600 $210K New
LAD Lithia Motors Inc. 0.24% 620 $209K Reduce -11.4%
C Citigroup Inc. 0.24% 2,450 $209K New
CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A 0.24% 10,200 $207K No change
PG The Procter & Gamble Co. 0.24% 1,287 $205K No change
HCA HCA Healthcare Inc. 0.24% 532 $204K New
GD General Dynamics Corp. 0.24% 696 $203K New
SCHY Schwab International DVD ETF 0.23% 7,390 $202K New
CVX Chevron Corp. 0.23% 1,403 $201K No change
OBDC Blue Owl Capital Corp. 0.22% 13,355 $192K Add +8.5%
LE Lands' End Inc. 0.20% 16,000 $171K Add +42.5%
AHRT Ah Realty Trust Inc. filed as ARMADA HOFFLER PPTYS INC 0.14% 17,800 $122K Add +48.3%
LYG Lloyds Banking Group PLC-ADR 0.14% 28,000 $119K No change
PNNT Pennantpark Investment Corp. 0.13% 17,000 $116K Reduce -15.0%
F Ford Motor Co. filed as FORD MTR CO 0.13% 10,000 $109K Reduce -49.2%
EC Ecopetrol SA-Sponsored ADR 0.12% 11,500 $102K No change
CLF Cleveland-Cliffs Inc. 0.11% 12,040 $92K Add +9.4%
SB Safe Bulkers Inc. 0.10% 25,000 $90K No change
AVAL Grupo Aval Acciones Y Valore 0.09% 29,000 $81K Add +45.0%
UROY Uranium Royalty Corp. 0.07% 25,000 $63K No change
MPT Medical Properties Trust Inc. 0.05% 10,132 $44K Reduce -16.5%
EMX Emx Royalty Corp. filed as EMX RTY CORP 0.04% 15,000 $38K No change
LAC Lithium Americas Corp. 0.03% 10,000 $27K No change
SMRT Smartrent Inc. 0.02% 15,000 $15K Add +50.0%

Portfolio Sells Q1 2025 → Q2 2025
NKE Nike Inc. Class B Sold out 0.00% −1.28
DFS Discover Financial Services Sold out 0.00% −0.60
CP Canadian Pacific Kansas City Sold out 0.00% −0.57
ABR Arbor Realty Trust Inc. Sold out 0.00% −0.55
PNFP Pinnacle Financial Partners Reduce -0.7% 9.64% −0.55
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -33.3% 0.87% −0.49
UL Unilever PLC Sold out 0.00% −0.39
SWX Southwest Gas Holdings Inc. Sold out 0.00% −0.34
FDVV Fidelity High Dividend ETF Sold out 0.00% −0.33
OKE Oneok Inc. Sold out 0.00% −0.26
CCU Cia Cervecerias Uni-Spon ADR Sold out 0.00% −0.24
OXY Occidental Petroleum Corp. Reduce -10.6% 0.53% −0.23
SCHD Schwab US DVD Equity ETF Reduce -24.8% 0.37% −0.20
DVA Davita Inc. Reduce -5.5% 0.78% −0.19
RKT Rocket Cos Inc. Class A Sold out 0.00% −0.15
VNQ Vanguard Real Estate ETF Reduce -6.8% 0.73% −0.14
TAC Transalta Corp. Sold out 0.00% −0.13
ARE Alexandria Real Estate Equit Reduce -3.3% 0.29% −0.13
META Meta Platforms Inc. Class A Reduce -28.7% 0.64% −0.13
F Ford Motor Co. Reduce -49.2% 0.13% −0.12
CTO Cto Realty Growth Inc. Reduce -14.6% 0.27% −0.12
O Realty Income Corp. Reduce -0.3% 1.11% −0.12
DIS The Walt Disney Co. Reduce -30.9% 0.39% −0.10
ARCC Ares Capital Corp. Reduce -14.9% 0.29% −0.09
RTX RTX Corp. Reduce -11.7% 0.64% −0.08
VZ Verizon Communications Inc. Reduce -0.2% 0.32% −0.05
PNNT Pennantpark Investment Corp. Reduce -15.0% 0.13% −0.04
MPT Medical Properties Trust Inc. Reduce -16.5% 0.05% −0.04
SGRP Spar Group Inc. Sold out 0.00% −0.03
BAC Bank of America Corp. Reduce -4.6% 1.68% −0.02
LAD Lithia Motors Inc. Reduce -11.4% 0.24% −0.02
MSFT Microsoft Corp. Reduce -1.2% 1.90% +0.31

Portfolio Buys Q1 2025 → Q2 2025
LEN Lennar Corp. Class A New 1.62% +1.62
AMZN Amazon.com Inc. New 1.37% +1.37
SPHQ Invesco S&P 500 Quality ETF Add +203.0% 1.55% +1.03
COF Capital One Financial Corp. New 0.70% +0.70
UBER Uber Technologies Inc. Add +27.5% 2.04% +0.67
RYAAY Ryanair Holdings PLC-SP ADR Add +14.2% 1.65% +0.49
SNX TD Synnex Corp. Add +18.2% 1.54% +0.45
BN Brookfield Corp. Add +10.7% 2.59% +0.42
DG Dollar General Corp. Add +10.2% 1.76% +0.42
AVGO Broadcom Inc. New 0.32% +0.32
NVDA Nvidia Corp. New 0.31% +0.31
HTZ Hertz Global Hldgs Inc. New 0.31% +0.31
HHH Howard Hughes Holdings Inc. Add +39.4% 2.10% +0.29
GOOGL Alphabet Inc. Class A New 0.26% +0.26
JHG Janus Henderson Group PLC Add +34.1% 1.09% +0.26
SCHG Schwab US Large-Cap Growth New 0.25% +0.25
BSV Vanguard Short-Term Bond ETF New 0.25% +0.25
ECL Ecolab Inc. New 0.24% +0.24
NTR Nutrien Ltd. New 0.24% +0.24
C Citigroup Inc. New 0.24% +0.24
HCA HCA Healthcare Inc. New 0.24% +0.24
GD General Dynamics Corp. New 0.24% +0.24
SCHY Schwab International DVD ETF New 0.23% +0.23
CB Chubb Ltd. Add +25.0% 1.54% +0.14
VTI VG Morningstar TS MKT ETF-US Add +8.8% 1.33% +0.12
DEO Diageo PLC-Sponsored ADR Add +59.1% 0.41% +0.12
VOO Vanguard S&P 500 ETF Add +7.4% 1.15% +0.09
CAT Caterpillar Inc. Add +0.1% 0.93% +0.07
LE Lands' End Inc. Add +42.5% 0.20% +0.05
VT Vanguard Tot World STK ETF Add +1.6% 1.54% +0.05
AHRT Ah Realty Trust Inc. Add +48.3% 0.14% +0.03
SIRI Sirius XM Holdings Inc. Add +10.3% 0.94% +0.03
AVAL Grupo Aval Acciones Y Valore Add +45.0% 0.09% +0.03
VXUS Vanguard Total Intl Stock Add +1.3% 0.58% +0.02
CSCO Cisco Systems Inc. Add +0.0% 0.48% +0.01
SMRT Smartrent Inc. Add +50.0% 0.02% +0.00
VWO Vanguard Ftse Emerging Marke Add +0.3% 0.50% +0.00
LADR Ladder Capital Corp.-REIT Add +16.3% 0.27% +0.00
RF Regions Financial Corp. Add +0.2% 0.34% −0.00
JOE The St Joe Co. Add +6.4% 0.28% −0.00
OBDC Blue Owl Capital Corp. Add +8.5% 0.22% −0.01
CLF Cleveland-Cliffs Inc. Add +9.4% 0.11% −0.01
USB US Bancorp Add +0.1% 0.63% −0.01
TFC Truist Financial Corp. Add +0.0% 0.35% −0.02
VTV Vanguard Mrngstr Val ETF-Aui Add +0.8% 0.30% −0.02
EUSA iShares MSCI USA Equal Weigh Add +1.4% 1.12% −0.02
RITM Rithm Capital Corp. Add +6.3% 0.66% −0.03
ADC Agree Realty Corp. Add +7.4% 0.43% −0.03
VICI Vici Properties Inc. Add +0.1% 0.41% −0.04
SAFE Safehold Inc. Add +16.3% 0.30% −0.04

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