Sage Investment Counsel LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Sage Investment Counsel LLC reported 123 stock positions worth $90.9 million. Its top holding was Pinnacle Financial Partners (PNFP) at 7.9% of the portfolio, followed by Apple (AAPL, 5.8%) and Berkshire Hathaway Class A (BRK.A, 3.3%). Compared with Q3 2025, it opened 8 new positions, sold out of 8, added to 28 and reduced 30. The biggest buy was a new position in SLM (SLM) and the biggest sale Sirius XM (SIRI, shares −69%).

Most Recent 13F
Q2 2026
Location
Franklin, TN
CIK
0002055178
Portfolio Value
$90.9M (Q4 2025)
SEC Filing
0002055178-26-000001 ↗ filed Jan 23, 2026

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 Q2 2025 Q3 2025: $90.3M Q3 2025 Q4 2025: $90.9M $90.9M Q4 2025 Q1 2026: $90.1M Q1 2026 Q2 2026: $99.9M Q2 2026

Holdings 123 stocks · $90.9M
PNFP Pinnacle Financial Partners 7.90% 75,296 $7.2M Add +0.0%
AAPL Apple Inc. 5.78% 19,324 $5.3M Reduce -1.1%
BRK.A Berkshire Hathaway Inc. Class A 3.32% 4 $3.0M No change
BN Brookfield Corp. 2.72% 53,918 $2.5M No change
ET Energy Transfer LP 2.45% 134,809 $2.2M Reduce -0.2%
BRK.B Berkshire Hathaway Inc. Class B 2.42% 4,370 $2.2M Reduce -10.3%
HHH Howard Hughes Holdings Inc. 2.26% 25,706 $2.1M Add +1.2%
DG Dollar General Corp. 1.99% 13,641 $1.8M Add +0.0%
V Visa Inc. Class A 1.98% 5,133 $1.8M No change
JPM JPMorgan Chase & Co. 1.93% 5,442 $1.8M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.83% 30,281 $1.7M Add +0.0%
RYAAY Ryanair Holdings PLC-SP ADR 1.83% 23,034 $1.7M Reduce -3.1%
CB Chubb Ltd. 1.81% 5,258 $1.6M Add +0.0%
SPHQ Invesco S&P 500 Quality ETF 1.75% 21,203 $1.6M Add +2.6%
TFSL TFS Financial Corp. 1.72% 116,828 $1.6M Add +0.1%
UBER Uber Technologies Inc. 1.70% 18,952 $1.5M Add +0.1%
MSFT Microsoft Corp. 1.69% 3,176 $1.5M Reduce -3.2%
VT Vanguard Tot World STK ETF 1.61% 10,365 $1.5M Add +0.1%
SNX TD Synnex Corp. 1.50% 9,101 $1.4M Reduce -3.7%
LEN Lennar Corp. Class A 1.47% 13,029 $1.3M Reduce -4.3%
AMZN Amazon.com Inc. 1.45% 5,714 $1.3M Add +0.5%
BIP Brookfield Infrastructure Pa 1.44% 37,803 $1.3M No change
ENB Enbridge Inc. 1.41% 26,767 $1.3M No change
VTI VG Morningstar TS MKT ETF-US 1.37% 3,704 $1.2M Add +0.6%
SLM SLM Corp. 1.35% 45,452 $1.2M New
CAT Caterpillar Inc. 1.30% 2,061 $1.2M Add +0.1%
JHG Janus Henderson Group PLC 1.23% 23,493 $1.1M No change
VOO Vanguard S&P 500 ETF 1.20% 1,741 $1.1M Add +0.3%
EUSA iShares MSCI USA Equal Weigh 1.17% 10,310 $1.1M Reduce -0.5%
XOM Exxon Mobil Corp. 1.06% 8,017 $965K No change
O Realty Income Corp. 1.03% 16,602 $936K Add +1.0%
EPD Enterprise Products Partners 0.91% 25,932 $831K Reduce -1.4%
OMF Onemain Holdings Inc. 0.91% 12,304 $831K No change
STZ Constellation Brands Inc. Class A 0.87% 5,755 $794K Reduce -1.4%
OMAB Grupo Aeroportuario Cen-ADR 0.84% 7,000 $761K No change
PAC Grupo Aeroportuario Pac-ADR 0.79% 2,740 $722K No change
VCLT Vanguard Long-Term Corp. Bond 0.78% 9,340 $708K No change
AZO AutoZone Inc. 0.76% 205 $695K No change
RTX RTX Corp. 0.75% 3,721 $682K Reduce -1.0%
USB US Bancorp 0.71% 12,045 $643K No change
HD Home Depot Inc. 0.70% 1,854 $638K No change
COF Capital One Financial Corp. 0.69% 2,600 $630K Reduce -7.9%
BEP Brookfield Renewable Partner 0.65% 21,925 $591K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.65% 2,783 $589K Reduce -3.4%
VNQ Vanguard Real Estate ETF 0.65% 6,649 $588K Reduce -2.7%
VXUS Vanguard Total Intl Stock 0.60% 7,198 $543K Add +0.1%
TSLX Sixth Street Specialty Lendi 0.59% 24,777 $538K No change
FLG Flagstar Bank NA 0.57% 41,400 $521K Reduce -37.7%
RITM Rithm Capital Corp. 0.56% 46,700 $509K Reduce -7.9%
BABA Alibaba Group Holding-SP ADR 0.54% 3,359 $492K Reduce -4.4%
META Meta Platforms Inc. Class A 0.54% 742 $490K Reduce -0.5%
CNQ Canadian Natural Resources 0.51% 13,800 $467K No change
DVA Davita Inc. 0.50% 4,035 $458K Reduce -2.8%
CSCO Cisco Systems Inc. 0.50% 5,894 $454K Add +0.0%
LOW Lowe's Cos Inc. 0.50% 1,881 $454K Add +0.1%
VCIT Vanguard Int-Term Corporate 0.50% 5,395 $452K No change
FDX FedEx Corp. 0.49% 1,550 $448K No change
VWO Vanguard Ftse Emerging Marke 0.49% 8,320 $447K Reduce -0.0%
BXSL Blackstone Secured Lending F 0.49% 16,799 $442K Reduce -1.2%
HR Healthcare Realty Trust Inc. 0.48% 25,759 $437K Add +0.3%
APO Apollo Global Management Inc. 0.48% 2,990 $433K Add +1.6%
OXY Occidental Petroleum Corp. 0.47% 10,322 $424K Reduce -14.1%
FCX Freeport-McMoran Inc. 0.46% 8,300 $422K No change
WTM White Mountains Insurance GP 0.46% 200 $416K No change
ABEV Ambev SA-ADR 0.45% 165,500 $409K No change
ADC Agree Realty Corp. 0.44% 5,552 $400K Add +8.4%
BUR Burford Capital Ltd. 0.41% 42,000 $375K Add +31.3%
SU Suncor Energy Inc. 0.41% 8,400 $373K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.41% 1,837 $370K No change
MA Mastercard Inc. Class A 0.40% 635 $363K No change
GOOGL Alphabet Inc. Class A 0.40% 1,151 $360K Reduce -2.5%
HTZ Hertz Global Hldgs Inc. 0.38% 67,760 $348K Reduce -14.7%
TFC Truist Financial Corp. 0.38% 7,014 $345K Add +0.1%
AVGO Broadcom Inc. 0.38% 990 $343K No change
SCHD Schwab US DVD Equity ETF 0.37% 12,325 $338K Add +2.0%
RF Regions Financial Corp. 0.37% 12,446 $337K No change
WMT Walmart Inc. 0.37% 2,998 $334K No change
KOF Coca-Cola Femsa Sab-SP ADR 0.36% 3,500 $331K No change
CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A 0.35% 12,400 $322K No change
DEO Diageo PLC-Sponsored ADR 0.35% 3,700 $319K Add +5.7%
NVDA Nvidia Corp. 0.35% 1,684 $314K No change
SCHG Schwab US Large-Cap Growth 0.34% 9,552 $312K Add +11.2%
VTV Vanguard Mrngstr Val ETF-Aui 0.34% 1,630 $311K Reduce -7.7%
VTEL Vanguard LT Tax-Ex Bond 0.34% 3,000 $311K No change
LE Lands' End Inc. 0.34% 21,275 $309K Add +11.2%
JOE The St Joe Co. 0.34% 5,200 $309K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.34% 2,681 $305K No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.34% 10,847 $305K No change
UNP Union Pacific Corp. 0.34% 1,318 $305K No change
GOOG Alphabet Inc. Class C 0.31% 911 $286K Reduce -2.1%
LADR Ladder Capital Corp.-REIT 0.31% 25,948 $285K No change
LMT Lockheed Martin Corp. 0.31% 575 $278K No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.28% 13,700 $252K No change
HCA HCA Healthcare Inc. 0.27% 532 $249K No change
FDUS Fidus Investment Corp. 0.26% 12,070 $233K No change
ARCC Ares Capital Corp. 0.25% 11,420 $231K No change
CLS Celestica Inc. 0.25% 758 $224K New
SIRI Sirius XM Holdings Inc. 0.25% 11,142 $223K Reduce -68.6%
CIB Grupo Cibest SA-ADR 0.24% 3,500 $223K New
NTR Nutrien Ltd. 0.24% 3,600 $222K No change
XBMEX BlackRock Health Sciences 0.24% 5,400 $222K No change
SCHY Schwab International DVD ETF 0.24% 7,435 $222K Add +0.3%
STT State Street Corp. 0.24% 1,700 $219K New
CW Curtiss-Wright Corp. 0.24% 392 $216K No change
CVX Chevron Corp. 0.24% 1,404 $214K No change
ECL Ecolab Inc. 0.23% 780 $205K No change
VZ Verizon Communications Inc. 0.22% 5,000 $204K Reduce -21.6%
WHR Whirlpool Corp. 0.22% 2,795 $202K New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.20% 11,000 $184K No change
OBDC Blue Owl Capital Corp. 0.16% 11,855 $147K Reduce -27.5%
AVAL Grupo Aval Acciones Y Valore 0.15% 34,000 $138K No change
LYG Lloyds Banking Group PLC-ADR 0.14% 24,800 $131K Reduce -11.4%
F Ford Motor Co. filed as FORD MTR CO 0.14% 10,000 $131K No change
SB Safe Bulkers Inc. 0.13% 25,000 $121K No change
AHRT Ah Realty Trust Inc. filed as ARMADA HOFFLER PPTYS INC 0.13% 17,800 $118K No change
EC Ecopetrol SA-Sponsored ADR 0.13% 11,500 $115K No change
RFI Cohen & Steers Tot Ret RLTY 0.12% 10,000 $111K New
CMBT CMB Tech NV 0.11% 10,000 $97K New
AIV Apartment Invt & Mgmt Co. Class A 0.10% 15,000 $89K New
AUNA Auna SA Class A 0.09% 16,000 $79K Add +60.0%
FIP Ftai Infrastructure Inc. 0.08% 15,000 $69K No change
LAC Lithium Americas Corp. 0.05% 10,000 $44K No change
SMRT Smartrent Inc. 0.03% 15,000 $30K No change

Portfolio Sells Q3 2025 → Q4 2025
SIRI Sirius XM Holdings Inc. Reduce -68.6% 0.25% −0.67
RIET Hoya Capital Hi DVD YLD ETF Sold out 0.00% −0.45
LEN Lennar Corp. Class A Reduce -4.3% 1.47% −0.43
ARE Alexandria Real Estate Equit Sold out 0.00% −0.34
BRK.B Berkshire Hathaway Inc. Class B Reduce -10.3% 2.42% −0.30
FLG Flagstar Bank NA Reduce -37.7% 0.57% −0.28
SAFE Safehold Inc. Sold out 0.00% −0.25
BTI British American Tob-SP ADR Sold out 0.00% −0.24
BX Blackstone Inc. Sold out 0.00% −0.23
HTZ Hertz Global Hldgs Inc. Reduce -14.7% 0.38% −0.21
SNX TD Synnex Corp. Reduce -3.7% 1.50% −0.21
MSFT Microsoft Corp. Reduce -3.2% 1.69% −0.19
OXY Occidental Petroleum Corp. Reduce -14.1% 0.47% −0.16
BABA Alibaba Group Holding-SP ADR Reduce -4.4% 0.54% −0.15
PNNT Pennantpark Investment Corp. Sold out 0.00% −0.13
ET Energy Transfer LP Reduce -0.2% 2.45% −0.12
UROY Uranium Royalty Corp. Sold out 0.00% −0.12
DVA Davita Inc. Reduce -2.8% 0.50% −0.11
VZ Verizon Communications Inc. Reduce -21.6% 0.22% −0.09
RITM Rithm Capital Corp. Reduce -7.9% 0.56% −0.08
OBDC Blue Owl Capital Corp. Reduce -27.5% 0.16% −0.07
META Meta Platforms Inc. Class A Reduce -0.5% 0.54% −0.07
VNQ Vanguard Real Estate ETF Reduce -2.7% 0.65% −0.04
LAR Lithium Argentina AG Sold out 0.00% −0.04
VTV Vanguard Mrngstr Val ETF-Aui Reduce -7.7% 0.34% −0.02
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -3.4% 0.65% −0.02
EUSA iShares MSCI USA Equal Weigh Reduce -0.5% 1.17% −0.01
VWO Vanguard Ftse Emerging Marke Reduce -0.0% 0.49% −0.01
BXSL Blackstone Secured Lending F Reduce -1.2% 0.49% −0.00
STZ Constellation Brands Inc. Class A Reduce -1.4% 0.87% +0.00
EPD Enterprise Products Partners Reduce -1.4% 0.91% +0.00
LYG Lloyds Banking Group PLC-ADR Reduce -11.4% 0.14% +0.00
COF Capital One Financial Corp. Reduce -7.9% 0.69% +0.03
RTX RTX Corp. Reduce -1.0% 0.75% +0.05
GOOG Alphabet Inc. Class C Reduce -2.1% 0.31% +0.06
GOOGL Alphabet Inc. Class A Reduce -2.5% 0.40% +0.08
RYAAY Ryanair Holdings PLC-SP ADR Reduce -3.1% 1.83% +0.24
AAPL Apple Inc. Reduce -1.1% 5.78% +0.27

Portfolio Buys Q3 2025 → Q4 2025
SLM SLM Corp. New 1.35% +1.35
DG Dollar General Corp. Add +0.0% 1.99% +0.43
CLS Celestica Inc. New 0.25% +0.25
CIB Grupo Cibest SA-ADR New 0.24% +0.24
STT State Street Corp. New 0.24% +0.24
WHR Whirlpool Corp. New 0.22% +0.22
CAT Caterpillar Inc. Add +0.1% 1.30% +0.21
CB Chubb Ltd. Add +0.0% 1.81% +0.16
RFI Cohen & Steers Tot Ret RLTY New 0.12% +0.12
CMBT CMB Tech NV New 0.11% +0.11
BAC Bank of America Corp. Add +0.0% 1.83% +0.10
AIV Apartment Invt & Mgmt Co. Class A New 0.10% +0.10
PNFP Pinnacle Financial Partners Add +0.0% 7.90% +0.08
SPHQ Invesco S&P 500 Quality ETF Add +2.6% 1.75% +0.07
AMZN Amazon.com Inc. Add +0.5% 1.45% +0.07
CSCO Cisco Systems Inc. Add +0.0% 0.50% +0.05
APO Apollo Global Management Inc. Add +1.6% 0.48% +0.04
LE Lands' End Inc. Add +11.2% 0.34% +0.04
SCHG Schwab US Large-Cap Growth Add +11.2% 0.34% +0.04
ADC Agree Realty Corp. Add +8.4% 0.44% +0.04
VT Vanguard Tot World STK ETF Add +0.1% 1.61% +0.03
VTI VG Morningstar TS MKT ETF-US Add +0.6% 1.37% +0.03
TFC Truist Financial Corp. Add +0.1% 0.38% +0.03
VOO Vanguard S&P 500 ETF Add +0.3% 1.20% +0.02
TFSL TFS Financial Corp. Add +0.1% 1.72% +0.02
SCHY Schwab International DVD ETF Add +0.3% 0.24% +0.01
VXUS Vanguard Total Intl Stock Add +0.1% 0.60% +0.01
AUNA Auna SA Class A Add +60.0% 0.09% +0.01
SCHD Schwab US DVD Equity ETF Add +2.0% 0.37% +0.01
BUR Burford Capital Ltd. Add +31.3% 0.41% −0.01
DEO Diageo PLC-Sponsored ADR Add +5.7% 0.35% −0.02
LOW Lowe's Cos Inc. Add +0.1% 0.50% −0.02
HR Healthcare Realty Trust Inc. Add +0.3% 0.48% −0.03
HHH Howard Hughes Holdings Inc. Add +1.2% 2.26% −0.06
O Realty Income Corp. Add +1.0% 1.03% −0.08
UBER Uber Technologies Inc. Add +0.1% 1.70% −0.35

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