Salem Investment Counselors Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Salem Investment Counselors Inc. reported 391 stock positions worth $3.5 billion. Its top holding was Lowe's Cos (LOW) at 9.5% of the portfolio, followed by Nvidia (NVDA, 7.5%) and Apple (AAPL, 7.4%). Compared with Q3 2025, it opened 6 new positions, sold out of 826, added to 122 and reduced 164. The biggest buy was a new position in 3M (MMM) and the biggest sale Microsoft (MSFT, shares −2%).

Most Recent 13F
Q2 2026
Location
WINSTON-SALEM, NC
CIK
0000884423
Portfolio Value
$3.5B (Q4 2025)
SEC Filing
0001420506-26-000027 ↗ filed Jan 12, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $3.0B Q1 2024 Q2 2024: $3.1B Q2 2024 Q3 2024: $3.3B Q3 2024 Q4 2024: $3.0B Q4 2024 Q1 2025: $2.9B Q1 2025 Q2 2025: $3.2B Q2 2025 Q3 2025: $3.5B Q3 2025 Q4 2025: $3.5B $3.5B Q4 2025 Q1 2026: $3.4B Q1 2026 Q2 2026: $4.0B Q2 2026

Holdings 391 stocks · $3.5B

LOW Lowe's Cos Inc. 9.50% 1,394,593 $336.3M Add +0.1%
NVDA Nvidia Corp. 7.48% 1,420,358 $264.9M Reduce -2.6%
AAPL Apple Inc. 7.40% 964,223 $262.1M Reduce -1.2%
MSFT Microsoft Corp. 5.32% 389,632 $188.4M Reduce -2.2%
GOOG Alphabet Inc. Class C 4.42% 499,301 $156.7M Reduce -0.4%
PLTR Palantir Technologies Inc. Class A 3.20% 638,251 $113.4M Reduce -10.8%
AMZN Amazon.com Inc. 3.13% 480,474 $110.9M Add +0.1%
META Meta Platforms Inc. Class A 2.91% 156,059 $103.0M Reduce -2.2%
BRK.B Berkshire Hathaway Inc. Class B 2.44% 172,058 $86.5M Reduce -0.4%
LLY Eli Lilly & Co. 2.41% 79,255 $85.2M Reduce -1.1%
GOOGL Alphabet Inc. Class A 2.37% 268,004 $83.9M Reduce -2.7%
JPM JPMorgan Chase & Co. 2.19% 240,983 $77.6M Add +5.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.75% 1,126,924 $62.0M Reduce -0.7%
MU Micron Technology Inc. 1.67% 206,483 $59.0M Reduce -5.8%
AMD Advanced Micro Devices 1.59% 263,263 $56.4M Reduce -0.9%
PEP Pepsico Inc. 1.16% 284,874 $41.2M Add +0.2%
GRBK Green Brick Partners Inc. 1.14% 644,772 $40.4M Reduce -0.6%
RTX RTX Corp. 1.14% 219,927 $40.3M Reduce -1.2%
WMT Walmart Inc. 1.05% 334,890 $37.3M Reduce -0.6%
JNJ Johnson & Johnson 1.04% 177,770 $36.8M Reduce -0.3%
ISRG Intuitive Surgical Inc. 0.99% 61,958 $35.1M Add +1.1%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.99% 2,087,012 $34.9M Reduce -2.5%
ALAB Astera Labs Inc. 0.86% 182,325 $30.3M Reduce -0.8%
ABBV Abbvie Inc. 0.85% 131,607 $30.1M Reduce -0.9%
V Visa Inc. Class A 0.80% 80,813 $28.3M Add +2.1%
CAT Caterpillar Inc. 0.79% 49,130 $28.1M Reduce -4.1%
LEN Lennar Corp. Class A 0.76% 261,972 $26.9M Reduce -1.5%
SCHX Schwab US Large-Cap ETF 0.71% 937,188 $25.2M Reduce -0.4%
TSM Taiwan Semiconductor-SP ADR 0.70% 81,844 $24.9M Reduce -7.2%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.64% 54,891 $22.7M Reduce -0.4%
SW Smurfit Westrock PLC 0.61% 554,057 $21.4M Reduce -1.3%
ACN Accenture PLC Class A 0.59% 78,202 $21.0M Reduce -0.3%
COST Costco Wholesale Corp. 0.59% 24,132 $20.8M Add +3.0%
CSCO Cisco Systems Inc. 0.59% 269,373 $20.7M Reduce -0.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.58% 29,945 $20.5M Add +1.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.57% 70,071 $20.3M Add +0.2%
MRK Merck & Co. Inc. 0.56% 188,483 $20.0M Reduce -0.6%
QCOM Qualcomm Inc. 0.55% 113,462 $19.4M Reduce -0.5%
VB Vanguard Most SM-Cap ETF-Usd 0.54% 74,674 $19.3M Add +0.2%
SCHM Schwab US Mid Cap ETF 0.54% 634,996 $19.1M Add +0.1%
BSX Boston Scientific Corp. 0.53% 196,072 $18.7M Add +0.1%
MCD McDonald's Corp. 0.46% 52,827 $16.1M Add +0.4%
PG The Procter & Gamble Co. 0.42% 103,608 $14.8M Reduce -0.7%
GEHC GE Healthcare Technology 0.41% 176,452 $14.5M Add +9.2%
TFC Truist Financial Corp. 0.38% 274,601 $13.5M Add +0.7%
BCPC Balchem Corp. 0.33% 76,345 $11.7M No change
AVGO Broadcom Inc. 0.32% 32,718 $11.3M Add +1.4%
UI Ubiquiti Inc. 0.31% 20,021 $11.1M Reduce -0.1%
MMM 3M Co. 0.31% 68,459 $11.0M New
XOM Exxon Mobil Corp. 0.31% 90,501 $10.9M Add +3.9%
COF Capital One Financial Corp. 0.30% 44,417 $10.8M Add +0.0%
ETN Eaton Corp. PLC 0.29% 32,471 $10.3M Add +1.9%
AMGN Amgen Inc. 0.28% 29,934 $9.8M Add +3.5%
ABT Abbott Laboratories 0.27% 77,246 $9.7M Reduce -3.8%
KMI Kinder Morgan Inc. 0.27% 348,156 $9.6M Add +0.6%
TMO Thermo Fisher Scientific Inc. 0.27% 16,460 $9.5M Reduce -9.1%
AEP American Electric Power 0.27% 82,429 $9.5M Add +7.5%
MRVL Marvell Technology Inc. 0.27% 111,010 $9.4M Add +33.2%
HIMS Hims & Hers Health Inc. 0.25% 267,633 $8.7M Add +1.9%
SCHA Schwab US Small-Cap ETF 0.24% 304,128 $8.7M Add +2.6%
HON Honeywell International Inc. 0.24% 43,496 $8.5M Reduce -3.0%
EPD Enterprise Products Partners 0.23% 254,426 $8.2M Add +2.3%
HD Home Depot Inc. 0.23% 23,299 $8.0M Add +0.3%
RIO Rio Tinto PLC-Spon ADR 0.22% 99,483 $8.0M Add +4.8%
ASML ASML Holding NV-NY Reg SHS 0.22% 7,435 $8.0M Add +0.3%
KBH KB Home 0.22% 138,720 $7.8M Reduce -0.5%
ENB Enbridge Inc. 0.21% 159,200 $7.6M Reduce -0.1%
BRK.A Berkshire Hathaway Inc. Class A 0.21% 10 $7.5M No change
CRWD CrowdStrike Holdings Inc. Class A 0.21% 16,033 $7.5M Reduce -2.9%
IVV iShares Core S&P 500 ETF 0.21% 10,937 $7.5M Reduce -1.1%
HUBB Hubbell Inc. 0.21% 16,690 $7.4M Add +82.5%
KO The Coca-Cola Co. 0.21% 105,661 $7.4M Reduce -1.5%
VOO Vanguard S&P 500 ETF 0.21% 11,764 $7.4M Reduce -3.0%
IWR iShares Russell Mid-Cap ETF 0.21% 75,824 $7.3M Reduce -0.0%
ORCL Oracle Corp. 0.19% 34,766 $6.8M Reduce -0.5%
FDX FedEx Corp. 0.19% 23,292 $6.8M Add +0.6%
WM Waste Management Inc. 0.19% 29,888 $6.6M Add +0.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.18% 77,478 $6.4M Add +0.3%
ET Energy Transfer LP 0.18% 383,301 $6.3M Reduce -0.3%
TT Trane Technologies PLC 0.18% 16,178 $6.3M No change
GS Goldman Sachs Group Inc. 0.18% 7,054 $6.2M No change
VIG Vanguard Dividend Apprec ETF 0.17% 27,371 $6.0M Reduce -2.3%
PBR Petroleo Brasileiro-Spon ADR 0.17% 502,831 $6.0M Reduce -6.5%
CL Colgate-Palmolive Co. 0.17% 75,442 $6.0M Reduce -2.9%
PSX Phillips 66 0.17% 46,041 $5.9M No change
TSLA Tesla Inc. 0.16% 12,473 $5.6M Add +28.0%
MDLZ Mondelez International Inc. Class A 0.16% 101,728 $5.5M Add +2.1%
MS Morgan Stanley 0.15% 30,905 $5.5M Add +1.0%
NEE Nextera Energy Inc. 0.15% 66,839 $5.4M Reduce -0.6%
ARCC Ares Capital Corp. 0.15% 257,855 $5.2M Add +6.0%
VUSB Vanguard Ultra Short Bond Et 0.14% 102,239 $5.1M Add +7.7%
SOLS Solstice Adv Materials Inc. 0.14% 104,283 $5.1M Add +830.4%
CVX Chevron Corp. 0.14% 32,424 $4.9M Add +1.1%
MELI MercadoLibre Inc. 0.14% 2,399 $4.8M Add +14.9%
MLM Martin Marietta Materials 0.13% 7,438 $4.6M Reduce -10.8%
SON Sonoco Products Co. 0.13% 105,765 $4.6M Add +3.1%
MTD Mettler-Toledo International 0.13% 3,300 $4.6M No change
DY Dycom Industries Inc. 0.13% 13,332 $4.5M Reduce -1.1%
VBIL Vanguard 0-3M T-Bill ETF 0.12% 57,672 $4.4M Add +81.5%
PNC PNC Financial Services Group 0.12% 20,465 $4.3M Reduce -0.5%
OBDC Blue Owl Capital Corp. 0.12% 342,130 $4.3M Reduce -10.6%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.12% 41,256 $4.2M Reduce -47.0%
MKL Markel Group Inc. 0.12% 1,946 $4.2M Add +7.2%
AGG iShares Core U.S. Aggregate 0.12% 41,395 $4.1M Reduce -3.0%
CRI Carter's Inc. 0.11% 125,115 $4.1M Add +37.1%
TXT Textron Inc. 0.11% 46,524 $4.1M Reduce -1.7%
AMLP Alerian MLP ETF 0.11% 84,497 $4.0M Add +1.1%
JPST JPMorgan Ultra-Short Income 0.11% 77,719 $3.9M Add +20.2%
QQQ Invesco QQQ Trust Series 1 0.11% 6,349 $3.9M Reduce -0.8%
PM Philip Morris International 0.11% 23,415 $3.8M Reduce -6.0%
NTRA Natera Inc. 0.11% 16,280 $3.7M No change
PSCI Invesco S&P Smallcap Industr 0.11% 24,793 $3.7M No change
DUK Duke Energy Corp. 0.10% 31,248 $3.7M Reduce -0.3%
KMB Kimberly-Clark Corp. 0.10% 35,568 $3.7M Reduce -47.7%
SCHB Schwab US Broad Market ETF 0.10% 135,299 $3.5M Reduce -0.1%
C Citigroup Inc. 0.10% 29,837 $3.5M Reduce -2.5%
HBAN Huntington Bancshares Inc. 0.10% 197,982 $3.5M Add +279.0%
NOW ServiceNow Inc. 0.10% 22,482 $3.4M Add +0.3%
IWM iShares Russell 2000 ETF 0.10% 13,708 $3.4M No change
CVS CVS Health Corp. 0.09% 42,348 $3.4M Reduce -5.1%
ALSN Allison Transmission Holding 0.09% 34,262 $3.4M Add +2.3%
SYY Sysco Corp. 0.09% 45,089 $3.3M Reduce -1.6%
SCHF Schwab Intl Equity ETF 0.09% 136,993 $3.3M Reduce -1.8%
HRI Herc Holdings Inc. filed as HERC HLDGS INC 0.09% 22,121 $3.3M Add +1.8%
GE General Electric filed as GE AEROSPACE 0.09% 10,217 $3.2M Add +0.1%
CYBR Cyberark Software Ltd./Israel 0.09% 7,042 $3.1M Reduce -0.9%
UNH Unitedhealth Group Inc. 0.09% 9,183 $3.0M Reduce -5.6%
IBIT iShares Bitcoin Trust ETF 0.08% 58,856 $2.9M Add +0.7%
VUG Vanguard Mrngstar GR ETF-Sui 0.08% 5,903 $2.9M Reduce -0.2%
YUM Yum! Brands Inc. 0.08% 18,524 $2.8M No change
SYK Stryker Corp. 0.08% 7,929 $2.8M Add +0.5%
PFE Pfizer Inc. 0.08% 108,330 $2.7M Reduce -2.6%
SCHR Schwab Intermediate-Term US 0.08% 106,455 $2.7M Reduce -3.4%
NFLX Netflix Inc. 0.07% 28,231 $2.6M Reduce -4.5%
NGVT Ingevity Corp. 0.07% 44,722 $2.6M No change
NUE Nucor Corp. 0.07% 16,015 $2.6M Reduce -3.8%
FRPH FRP Holdings Inc. filed as FRP HLDGS INC 0.07% 114,734 $2.6M Add +2.8%
SCHW Schwab (charles) Corp. 0.07% 25,485 $2.5M Reduce -0.7%
MDY State Street SPDR S&P Midcap 0.07% 4,197 $2.5M No change
LH Labcorp Holdings Inc. 0.07% 9,977 $2.5M Add +7.4%
AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO 0.07% 38,045 $2.5M New
XLV SS Health Care Select Sector 0.07% 16,066 $2.5M Add +0.6%
NEM Newmont Corp. 0.07% 24,362 $2.4M Add +10.9%
HSIC Henry Schein Inc. 0.07% 31,050 $2.3M Reduce -0.3%
IWF iShares Russell 1000 Growth 0.07% 4,941 $2.3M Reduce -0.8%
INTC Intel Corp. 0.06% 61,834 $2.3M Reduce -3.4%
NBIS Nebius Group NV 0.06% 26,930 $2.3M No change
XLK SS Technology Select Sector 0.06% 15,527 $2.2M Add +1.3%
ZS Zscaler Inc. 0.06% 9,919 $2.2M Reduce -1.7%
UNF Unifirst Corp. 0.06% 11,490 $2.2M No change
DVY iShares Select Dividend ETF 0.06% 15,253 $2.2M No change
EMR Emerson Electric Co. 0.06% 15,980 $2.1M Add +1.1%
PINS Pinterest Inc. Class A 0.06% 81,546 $2.1M Reduce -6.3%
VTI VG Morningstar TS MKT ETF-US 0.06% 6,184 $2.1M Reduce -3.4%
MGC Vngrd Mrngstr MG Cap ETF-Usd 0.06% 8,106 $2.0M Add +1.8%
WBD Warner Bros Discovery Inc. 0.06% 69,455 $2.0M Reduce -0.6%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.05% 42,812 $1.9M Reduce -5.1%
BRO Brown & Brown Inc. 0.05% 24,000 $1.9M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 6,276 $1.9M No change
CPRT Copart Inc. 0.05% 46,633 $1.8M Add +6.0%
QXO Qxo Inc. 0.05% 94,475 $1.8M Add +17.7%
WST West Pharmaceutical Services 0.05% 6,561 $1.8M Add +76.5%
TEM Tempus AI Inc. Class A 0.05% 30,180 $1.8M Add +0.1%
JQUA JPMorgan US Quality Factor 0.05% 27,416 $1.7M Add +15.0%
GLW Corning Inc. 0.05% 19,614 $1.7M Reduce -0.2%
SGI Somnigroup International Inc. 0.05% 19,200 $1.7M Add +29.7%
GEV GE Vernova Inc. 0.05% 2,606 $1.7M Add +2.0%
MRP Millrose Properties 0.05% 55,066 $1.6M Reduce -4.9%
AXP American Express Co. 0.05% 4,400 $1.6M Add +1.0%
DHI D.R. Horton Inc. 0.05% 11,270 $1.6M Reduce -1.2%
USMV iShares MSCI USA Min Vol Fac 0.05% 17,138 $1.6M Reduce -17.3%
MO Altria Group Inc. 0.04% 27,029 $1.6M Reduce -12.8%
RDVT Red Violet Inc. 0.04% 27,558 $1.6M Add +2.0%
IVE iShares S&P 500 Value ETF 0.04% 7,270 $1.5M Reduce -2.3%
HCA HCA Healthcare Inc. 0.04% 3,251 $1.5M Reduce -0.1%
FNDX Schwab Fndmntl US LRG Co. ETF 0.04% 55,487 $1.5M Reduce -6.8%
DELL Dell Technologies -C 0.04% 11,905 $1.5M Reduce -1.0%
FN Fabrinet 0.04% 3,231 $1.5M No change
CPNG Coupang Inc. 0.04% 61,240 $1.4M Reduce -30.9%
IXN iShares Global Tech ETF 0.04% 13,536 $1.4M No change
TXN Texas Instruments Inc. 0.04% 8,122 $1.4M Reduce -0.1%
LBRT Liberty Energy Inc. 0.04% 75,420 $1.4M Reduce -0.1%
RDDT Reddit Inc. Class A 0.04% 5,945 $1.4M No change
LOB Live Oak Bancshares Inc. 0.04% 38,205 $1.3M Reduce -3.0%
WFC Wells Fargo & Co. 0.04% 13,620 $1.3M Reduce -4.1%
CNQ Canadian Natural Resources 0.04% 36,800 $1.3M Reduce -1.6%
IEFA iShares Core MSCI Eafe ETF 0.04% 13,979 $1.3M Add +0.2%
OKE Oneok Inc. 0.04% 16,992 $1.2M Reduce -5.9%
IJH iShares Core S&P Midcap ETF 0.04% 18,879 $1.2M Reduce -2.9%
VZ Verizon Communications Inc. 0.03% 30,141 $1.2M Reduce -7.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 10,724 $1.2M Reduce -1.3%
NSC Norfolk Southern Corp. 0.03% 4,184 $1.2M Add +5.4%
BBUS JPMorgan Betabuilders US Equ 0.03% 9,667 $1.2M Add +68950.0%
AYI Acuity Inc. 0.03% 3,222 $1.2M No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.03% 4,122 $1.2M Reduce -4.3%
BMY Bristol-Myers Squibb Co. 0.03% 21,168 $1.1M Reduce -3.5%
VEA Vanguard Ftse Developed ETF 0.03% 18,025 $1.1M Add +155.6%
CNI Canadian Natl Railway Co. 0.03% 11,075 $1.1M No change
GD General Dynamics Corp. 0.03% 3,245 $1.1M Reduce -1.5%
SSB Southstate Bank Corp. 0.03% 11,447 $1.1M Reduce -7.3%
CRM Salesforce Inc. 0.03% 3,989 $1.1M Reduce -3.6%
SCHD Schwab US DVD Equity ETF 0.03% 37,964 $1.0M Reduce -39.0%
VDE Vanguard Energy ETF 0.03% 8,249 $1.0M Reduce -12.9%
VGT Vanguard Info Tech ETF 0.03% 1,377 $1.0M Reduce -0.7%
FLO Flowers Foods Inc. 0.03% 94,233 $1.0M Add +3.9%
SGOV iShares 0-3 Month Treasury B 0.03% 10,050 $1.0M Reduce -39.5%
IVW iShares S&P 500 Growth ETF 0.03% 8,115 $1.0M Reduce -21.6%
TM Toyota Motor Corp. -Spon ADR 0.03% 4,662 $998K No change
VCSH Vanguard S/T Corp. Bond ETF 0.03% 12,413 $990K Add +7706.9%
KTOS Kratos Defense & Security 0.03% 13,000 $987K Reduce -2.1%
XLE SS Energy Select Sector 0.03% 21,838 $976K Reduce -0.6%
IGV iShares Expanded Tech-Softwa 0.03% 9,012 $952K Add +0.8%
IR Ingersoll-Rand Inc. 0.03% 12,020 $952K No change
RSP Invesco S&P 500 Equal Weight 0.03% 4,879 $935K Add +4.8%
EFA iShares MSCI Eafe ETF 0.03% 9,645 $926K Reduce -0.3%
GPN Global Payments Inc. 0.03% 11,948 $925K Add +33.8%
DOV Dover Corp. 0.03% 4,730 $923K No change
VVX V2X Inc. 0.03% 16,804 $917K Add +15.8%
CARR Carrier Global Corp. 0.03% 16,878 $892K Reduce -1.0%
ALL Allstate Corp. 0.03% 4,246 $888K Reduce -1.6%
EXE Expand Energy Corp. 0.02% 7,992 $882K No change
RY Royal Bank of Canada 0.02% 5,167 $881K No change
T AT&T Inc. 0.02% 35,458 $881K Reduce -0.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.02% 5,713 $878K Add +35.6%
MA Mastercard Inc. Class A 0.02% 1,505 $859K Reduce -5.9%
GL Globe Life Inc. 0.02% 6,000 $839K Add +11.1%
IWB iShares Russell 1000 ETF 0.02% 2,240 $837K No change
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.02% 20,769 $836K New
BX Blackstone Inc. 0.02% 5,409 $834K No change
OTIS Otis Worldwide Corp. 0.02% 9,502 $830K Add +20.9%
PYPL PayPal Holdings Inc. 0.02% 14,089 $823K Add +0.0%
LRCX Lam Research Corp. 0.02% 4,776 $819K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.02% 18,990 $811K Add +1.0%
SO The Southern Co. 0.02% 9,296 $811K Add +0.1%
UNP Union Pacific Corp. 0.02% 3,493 $808K Add +0.4%
ULST SS Ultra Short TM Bond ETF 0.02% 19,646 $796K No change
KVUE Kenvue Inc. 0.02% 45,703 $788K Add +3.7%
DFAI Dimensional International Co. 0.02% 20,569 $784K Add +2.8%
SHW The Sherwin-Williams Co. 0.02% 2,403 $779K Reduce -0.8%
XHLF Bondbloxx BBG 6 MTH US Treas 0.02% 15,261 $769K New
GWW WW Grainger Inc. 0.02% 758 $765K Add +20.1%
EW Edwards Lifesciences Corp. 0.02% 8,871 $756K No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.02% 5,346 $755K New
CMCSA Comcast Corp. Class A 0.02% 24,809 $742K Add +16.0%
NVS Novartis AG-Sponsored ADR 0.02% 5,337 $736K No change
EEM iShares MSCI Emerging Market 0.02% 13,307 $728K Reduce -5.3%
GPK Graphic Packaging Holding Co. 0.02% 47,859 $726K Add +50.5%
XAR SS SPDR S&P Aerospace Def 0.02% 3,000 $724K No change
NKE Nike Inc. Class B 0.02% 11,240 $720K Add +9.0%
SRE Sempra 0.02% 8,080 $719K No change
TDW Tidewater Inc. 0.02% 13,488 $681K No change
MPC Marathon Petroleum Corp. 0.02% 4,122 $670K Reduce -0.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.02% 3,476 $664K Reduce -10.4%
VNQ Vanguard Real Estate ETF 0.02% 7,381 $653K Reduce -0.8%
ITOT iShares Core S&P Total U.S. 0.02% 4,380 $651K No change
ADP Automatic Data Processing 0.02% 2,496 $646K Reduce -2.1%
FTNT Fortinet Inc. 0.02% 8,129 $646K No change
KLAR Klarna Group PLC 0.02% 22,300 $645K Add +5475.0%
AVTR Avantor Inc. 0.02% 55,862 $640K Reduce -5.8%
AZO AutoZone Inc. 0.02% 185 $627K Reduce -6.1%
BAH Booz Allen Hamilton Holdings 0.02% 7,350 $620K Reduce -13.0%
GLD SPDR Gold Shares 0.02% 1,564 $620K Reduce -17.3%
EME Emcor Group Inc. 0.02% 1,000 $612K No change
FLOT iShares Floating Rate Bond E 0.02% 11,917 $606K Reduce -7.1%
COP Conocophillips 0.02% 6,469 $606K Reduce -3.4%
LIN Linde PLC 0.02% 1,420 $605K Reduce -0.4%
EZPW Ezcorp Inc. Class A 0.02% 30,890 $600K No change
EWJ iShares MSCI Japan ETF 0.02% 7,337 $592K No change
FNB FNB Corp. 0.02% 34,486 $590K No change
IJR iShares Core S&P Small-Cap E 0.02% 4,902 $589K Add +2.0%
DE Deere & Co. 0.02% 1,254 $586K Reduce -1.1%
AAP Advance Auto Parts Inc. 0.02% 14,625 $575K No change
YUMC Yum China Holdings Inc. 0.02% 12,001 $573K No change
DAR Darling Ingredients Inc. 0.02% 15,636 $563K No change
IEMG iShares Core MSCI Emerging 0.02% 8,367 $562K Add +0.0%
MDYG SS SPDR S&P 400 MC GR ETF 0.02% 6,000 $555K No change
LHX L3HARRIS Technologies Inc. 0.01% 1,769 $519K Reduce -0.5%
ECL Ecolab Inc. 0.01% 1,951 $514K Add +34.3%
XBI SS SPDR S&P Biotech ETF 0.01% 4,176 $509K No change
NVO Novo-Nordisk A/S-Spons ADR 0.01% 9,692 $493K Reduce -49.1%
VPL Vanguard Ftse Pacific ETF 0.01% 5,300 $479K Add +1.8%
EVLV Evolv Technologies Holdings 0.01% 66,600 $477K No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.01% 14,499 $475K Reduce -0.7%
VMD Viemed Healthcare Inc. 0.01% 63,107 $469K Reduce -12.4%
AIQ Global X Art Intel & Tech 0.01% 9,171 $467K Add +2.7%
SOLV Solventum Corp. 0.01% 5,821 $461K Reduce -1.9%
IWD iShares Russell 1000 Value E 0.01% 2,188 $460K Reduce -0.5%
ELV Elevance Health Inc. 0.01% 1,310 $459K Reduce -0.1%
LMT Lockheed Martin Corp. 0.01% 944 $457K Reduce -1.1%
PWR Quanta Services Inc. 0.01% 1,053 $444K No change
OXY Occidental Petroleum Corp. 0.01% 10,610 $439K Reduce -49.3%
XLF SS Financial Select Sector 0.01% 7,986 $437K Add +7.4%
TDG Transdigm Group Inc. 0.01% 325 $432K No change
NOC Northrop Grumman Corp. 0.01% 753 $429K No change
UBER Uber Technologies Inc. 0.01% 5,186 $424K No change
COR Cencora Inc. 0.01% 1,250 $422K No change
MEDP Medpace Holdings Inc. 0.01% 745 $418K No change
GSLC Goldman Activebeta US LC ETF 0.01% 3,151 $417K Reduce -13.6%
VGK Vanguard Ftse Europe ETF 0.01% 4,955 $414K No change
URI United Rentals Inc. 0.01% 511 $414K No change
PRF Invesco Rafi US 1000 ETF 0.01% 8,800 $413K No change
XYZ Block Inc. 0.01% 6,289 $409K Add +8.1%
TSN Tyson Foods Inc. Class A 0.01% 6,912 $405K No change
ADI Analog Devices Inc. 0.01% 1,488 $404K Reduce -0.6%
FCNCA First Citizens Bcshs Class A 0.01% 185 $397K No change
USB US Bancorp 0.01% 7,348 $395K Add +146.3%
VFC VF Corp. 0.01% 21,467 $388K No change
RJF Raymond James Financial Inc. 0.01% 2,413 $388K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.01% 802 $386K Reduce -20.4%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.01% 1,261 $381K Reduce -12.0%
INTU Intuit Inc. 0.01% 574 $380K Reduce -0.9%
SDY SS SPDR S&P Dividend ETF 0.01% 2,720 $379K Add +1.9%
TSCO Tractor Supply Company 0.01% 7,453 $373K Add +67.4%
SLV iShares Silver Trust 0.01% 5,770 $372K Add +24.9%
D Dominion Energy Inc. 0.01% 6,212 $364K Add +0.3%
IBB iShares Biotechnology ETF 0.01% 2,126 $359K Add +2.2%
SHV iShares 0-1 Year Treasury Bo 0.01% 3,250 $358K Add +5.7%
WPM Wheaton Precious Metals Corp. 0.01% 3,042 $357K Reduce -12.3%
MCK McKesson Corp. 0.01% 435 $357K Reduce -2.3%
SBUX Starbucks Corp. 0.01% 4,185 $352K No change
MCO Moody's Corp. 0.01% 687 $351K No change
IQV Iqvia Holdings Inc. 0.01% 1,509 $340K Add +199.4%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.01% 4,958 $336K No change
Q Qnity Electronics Inc. 0.01% 4,081 $333K No change
QUAL iShares MSCI USA Quality Fac 0.01% 1,670 $332K Reduce -11.0%
BABA Alibaba Group Holding-SP ADR 0.01% 2,243 $329K No change
DD Dupont DE Nemours Inc. 0.01% 8,165 $328K No change
LNC Lincoln National Corp. 0.01% 7,365 $328K No change
VHT Vanguard Health Care ETF 0.01% 1,139 $328K Reduce -0.1%
A Agilent Technologies Inc. 0.01% 2,364 $322K No change
AXS Axis Capital Holdings Ltd. 0.01% 2,988 $320K No change
SPSM SS SPDR P S&P 600 Small Cap 0.01% 6,668 $312K No change
SCHG Schwab US Large-Cap Growth 0.01% 9,508 $310K Add +25.4%
XONE Bondbloxx BBG 1 Dur US Treas 0.01% 6,100 $303K New
SPGI S&P Global Inc. 0.01% 575 $300K No change
PFF iShares Preferred & Income S 0.01% 9,464 $293K Reduce -19.6%
ULTA Ulta Beauty Inc. 0.01% 484 $293K Add +106.8%
PAYX Paychex Inc. 0.01% 2,571 $288K Add +63.6%
DOC Healthpeak Properties Inc. 0.01% 17,875 $287K No change
ADBE Adobe Inc. 0.01% 813 $285K No change
IUSG iShares Core S&P U.S. Growth 0.01% 1,693 $284K Reduce -0.9%
WAB Wabtec Corp. 0.01% 1,293 $276K No change
AMAT Applied Materials Inc. 0.01% 1,060 $272K Reduce -1.4%
AON Aon PLC Class A 0.01% 764 $270K No change
CSX CSX Corp. 0.01% 7,422 $269K No change
VXX Ipath Series B S&P 500 Vix filed as BARCLAYS BANK PLC 0.01% 10,000 $265K Add +400.0%
AORT Artivion Inc. 0.01% 5,600 $255K Reduce -47.2%
ORI Old Republic Intl Corp. 0.01% 5,578 $255K No change
SMTI Sanara Medtech Inc. 0.01% 10,897 $254K Add +25.0%
GM General Motors Co. 0.01% 3,115 $253K No change
SPG Simon Property Group Inc. 0.01% 1,367 $253K Add +266.5%
ITW Illinois Tool Works 0.01% 1,015 $252K Reduce -0.9%
BEP Brookfield Renewable Partner 0.01% 9,262 $250K No change
GPIX GLDM SA S&P 500 PR in ETF-US 0.01% 4,600 $243K Add +61.4%
VYM Vanguard High DVD Yield ETF 0.01% 1,678 $241K Reduce -6.7%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.01% 761 $240K No change
QQQM Invesco Nasdaq 100 ETF 0.01% 935 $236K Reduce -75.3%
EXP Eagle Materials Inc. 0.01% 1,126 $233K No change
XOP SS SPDR S&P Og Exp & Prod 0.01% 1,845 $233K Reduce -19.6%
ESGV Vanguard ESG US Stock ETF 0.01% 1,920 $232K Reduce -11.5%
TRV The Travelers Cos Inc. 0.01% 794 $230K No change
IWP iShares Russell Mid-Cap Grow 0.01% 1,670 $229K No change
CB Chubb Ltd. 0.01% 724 $227K No change
VRTX Vertex Pharmaceuticals Inc. 0.01% 494 $224K Add +37.6%
VTRS Viatris Inc. 0.01% 17,944 $223K Reduce -29.4%
TGT Target Corp. 0.01% 2,271 $222K Reduce -3.4%
GRID First TRST Nasd Class Edg Sgiif 0.01% 1,450 $222K Reduce -18.1%
GIS General Mills Inc. 0.01% 4,765 $222K Add +170.7%
NXPI NXP Semiconductors NV 0.01% 1,003 $219K Reduce -1.5%
SDVY First Trust Smid Cap Rising 0.01% 5,637 $216K Reduce -3.4%
EFX Equifax Inc. 0.01% 986 $214K No change
IXC iShares Global Energy ETF 0.01% 5,100 $214K No change
CINF Cincinnati Financial Corp. 0.01% 1,302 $214K Add +0.1%
APG Api Group Corp. 0.01% 5,464 $209K No change
FHN First Horizon Corp. 0.01% 8,635 $208K Reduce -5.5%
WPC WP Carey Inc. 0.01% 3,181 $208K Add +418.9%
JBL Jabil Inc. 0.01% 905 $206K No change
INFU Infusystem Holdings Inc. 0.01% 22,417 $201K No change
SCHV Schwab US Large-Cap Value 0.01% 6,765 $200K No change
RQI Cohen & Steers Qual Inc. RLTY 0.00% 15,000 $171K No change
SVV Savers Value Village Inc. 0.00% 18,000 $168K Add +100.0%
APYX Apyx Medical Corp. 0.00% 45,500 $159K No change
INDI Indie Semiconductor Inc. Class A 0.00% 41,294 $146K No change
XRAY Dentsply Sirona Inc. 0.00% 12,500 $145K No change
DWSN Dawson Geophysical Co. 0.00% 77,800 $121K Reduce -3.7%
MEI Methode Electronics Inc. 0.00% 18,000 $120K No change
DERM Journey Medical Corp. 0.00% 14,300 $110K Add +18.2%
ENVX Enovix Corp. 0.00% 13,997 $102K Reduce -82.4%
ACHR Archer Aviation Inc. Class A 0.00% 10,000 $75K No change
ACTG Acacia Research Corp. 0.00% 14,664 $55K No change
OSISKO DEVELOPMENT CORP 0.00% 13,900 $49K No change

Portfolio Sells Q3 2025 → Q4 2025

MSFT Microsoft Corp. Reduce -2.2% 5.32% −0.59
PLTR Palantir Technologies Inc. Class A Reduce -10.8% 3.20% −0.53
META Meta Platforms Inc. Class A Reduce -2.2% 2.91% −0.44
NVDA Nvidia Corp. Reduce -2.6% 7.48% −0.31
ROP Roper Technologies Inc. Sold out 0.00% −0.23
GRBK Green Brick Partners Inc. Reduce -0.6% 1.14% −0.23
LEN Lennar Corp. Class A Reduce -1.5% 0.76% −0.20
ALAB Astera Labs Inc. Reduce -0.8% 0.86% −0.17
KMB Kimberly-Clark Corp. Reduce -47.7% 0.10% −0.14
TROW T Rowe Price Group Inc. Reduce -47.0% 0.12% −0.11
EVH Evolent Health Inc. Class A Sold out 0.00% −0.10
ORCL Oracle Corp. Reduce -0.5% 0.19% −0.09
SW Smurfit Westrock PLC Reduce -1.3% 0.61% −0.08
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −0.07
UI Ubiquiti Inc. Reduce -0.1% 0.31% −0.07
SRDX Surmodics Inc. Sold out 0.00% −0.05
MSTR Strategy Inc. Sold out 0.00% −0.05
IDR Idaho Strategic Resources Inc. Sold out 0.00% −0.05
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.4% 2.44% −0.04
CPNG Coupang Inc. Reduce -30.9% 0.04% −0.04
PG The Procter & Gamble Co. Reduce -0.7% 0.42% −0.04
ABT Abbott Laboratories Reduce -3.8% 0.27% −0.03
KBH KB Home Reduce -0.5% 0.22% −0.03
ABBV Abbvie Inc. Reduce -0.9% 0.85% −0.03
HON Honeywell International Inc. Reduce -3.0% 0.24% −0.03
NFLX Netflix Inc. Reduce -4.5% 0.07% −0.03
PBR Petroleo Brasileiro-Spon ADR Reduce -6.5% 0.17% −0.03
ZS Zscaler Inc. Reduce -1.7% 0.06% −0.02
PINS Pinterest Inc. Class A Reduce -6.3% 0.06% −0.02
QQQM Invesco Nasdaq 100 ETF Reduce -75.3% 0.01% −0.02
ENVX Enovix Corp. Reduce -82.4% 0.00% −0.02
OBDC Blue Owl Capital Corp. Reduce -10.6% 0.12% −0.02
MLM Martin Marietta Materials Reduce -10.8% 0.13% −0.02
CRWD CrowdStrike Holdings Inc. Class A Reduce -2.9% 0.21% −0.02
SGOV iShares 0-3 Month Treasury B Reduce -39.5% 0.03% −0.02
SCHD Schwab US DVD Equity ETF Reduce -39.0% 0.03% −0.02
NVO Novo-Nordisk A/S-Spons ADR Reduce -49.1% 0.01% −0.02
OXY Occidental Petroleum Corp. Reduce -49.3% 0.01% −0.02
ENB Enbridge Inc. Reduce -0.1% 0.21% −0.02
MO Altria Group Inc. Reduce -12.8% 0.04% −0.01
SYY Sysco Corp. Reduce -1.6% 0.09% −0.01
PHLT Performant Healthcare Inc. Sold out 0.00% −0.01
COIN Coinbase Global Inc. Class A Sold out 0.00% −0.01
USMV iShares MSCI USA Min Vol Fac Reduce -17.3% 0.05% −0.01
UNH Unitedhealth Group Inc. Reduce -5.6% 0.09% −0.01
ET Energy Transfer LP Reduce -0.3% 0.18% −0.01
CYBR Cyberark Software Ltd./Israel Reduce -0.9% 0.09% −0.01
ARE Alexandria Real Estate Equit Sold out 0.00% −0.01
DHI D.R. Horton Inc. Reduce -1.2% 0.05% −0.01
CL Colgate-Palmolive Co. Reduce -2.9% 0.17% −0.01

Portfolio Buys Q3 2025 → Q4 2025

MMM 3M Co. New 0.31% +0.31
ISRG Intuitive Surgical Inc. Add +1.1% 0.99% +0.21
JPM JPMorgan Chase & Co. Add +5.4% 2.19% +0.13
SOLS Solstice Adv Materials Inc. Add +830.4% 0.14% +0.13
AMZN Amazon.com Inc. Add +0.1% 3.13% +0.12
HUBB Hubbell Inc. Add +82.5% 0.21% +0.10
HBAN Huntington Bancshares Inc. Add +279.0% 0.10% +0.07
AKRE Akre Focus ETF New 0.07% +0.07
MRVL Marvell Technology Inc. Add +33.2% 0.27% +0.07
GEHC GE Healthcare Technology Add +9.2% 0.41% +0.06
VBIL Vanguard 0-3M T-Bill ETF Add +81.5% 0.12% +0.05
RIO Rio Tinto PLC-Spon ADR Add +4.8% 0.22% +0.05
AMGN Amgen Inc. Add +3.5% 0.28% +0.04
CRI Carter's Inc. Add +37.1% 0.11% +0.04
TSLA Tesla Inc. Add +28.0% 0.16% +0.03
FDX FedEx Corp. Add +0.6% 0.19% +0.03
COF Capital One Financial Corp. Add +0.0% 0.30% +0.03
BBUS JPMorgan Betabuilders US Equ Add +68950.0% 0.03% +0.03
VCSH Vanguard S/T Corp. Bond ETF Add +7706.9% 0.03% +0.03
V Visa Inc. Class A Add +2.1% 0.80% +0.03
XOM Exxon Mobil Corp. Add +3.9% 0.31% +0.03
TFC Truist Financial Corp. Add +0.7% 0.38% +0.02
CGUS Cap Group Core Equity New 0.02% +0.02
WST West Pharmaceutical Services Add +76.5% 0.05% +0.02
XHLF Bondbloxx BBG 6 MTH US Treas New 0.02% +0.02
AEP American Electric Power Add +7.5% 0.27% +0.02
MGV Vngrd Mrgstr MG CP VL ETF-Ui New 0.02% +0.02
PEP Pepsico Inc. Add +0.2% 1.16% +0.02
HRI Herc Holdings Inc. Add +1.8% 0.09% +0.02
VEA Vanguard Ftse Developed ETF Add +155.6% 0.03% +0.02
ASML ASML Holding NV-NY Reg SHS Add +0.3% 0.22% +0.02
MKL Markel Group Inc. Add +7.2% 0.12% +0.02
KLAR Klarna Group PLC Add +5475.0% 0.02% +0.02
JPST JPMorgan Ultra-Short Income Add +20.2% 0.11% +0.02
MS Morgan Stanley Add +1.0% 0.15% +0.02
NEM Newmont Corp. Add +10.9% 0.07% +0.02
AVGO Broadcom Inc. Add +1.4% 0.32% +0.02
ALSN Allison Transmission Holding Add +2.3% 0.09% +0.01
SGI Somnigroup International Inc. Add +29.7% 0.05% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +1.2% 0.58% +0.01
XONE Bondbloxx BBG 1 Dur US Treas New 0.01% +0.01
VUSB Vanguard Ultra Short Bond Et Add +7.7% 0.14% +0.01
SCHA Schwab US Small-Cap ETF Add +2.6% 0.24% +0.01
EPD Enterprise Products Partners Add +2.3% 0.23% +0.01
QXO Qxo Inc. Add +17.7% 0.05% +0.01
TJX TJX Companies Inc. Add +35.6% 0.02% +0.01
USB US Bancorp Add +146.3% 0.01% +0.01
IQV Iqvia Holdings Inc. Add +199.4% 0.01% +0.01
XLV SS Health Care Select Sector Add +0.6% 0.07% +0.01
JQUA JPMorgan US Quality Factor Add +15.0% 0.05% +0.01

Notes & Other Activity Q3 2025 → Q4 2025

OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Sold out 186 $5Kbefore exit
PPL PPL Corp. COM Sold out 0 $63before exit
OUSTZ Ouster Inc. -CW25 *W EXP 03/11/202 Sold out 250 $13before exit
COHEN & STEERS INFRASTRU RIGHT 10/16/2025 Sold out 24 $2before exit
CLEARBRIDGE ENERGY MI-RT RIGHT 10/10/2025 Sold out 36 $1before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1,236$4.0BLOW, NVDA, AAPL, MU, GOOG
Q1 2026Amended 1,235$3.4BLOW, NVDA, AAPL, MSFT, GOOG
Q4 2025 391$3.5BLOW, NVDA, AAPL, MSFT, GOOG
Q3 2025 1,209$3.5BLOW, NVDA, AAPL, MSFT, PLTR
Q2 2025Amended 1,168$3.2BLOW, NVDA, AAPL, MSFT, META
Q1 2025 1,216$2.9BLOW, AAPL, NVDA, MSFT, META
Q4 2024 1,200$3.0BLOW, AAPL, NVDA, MSFT, AMZN
Q3 2024 1,184$3.3BLOW, AAPL, NVDA, MSFT, META
Q2 2024 1,162$3.1BLOW, AAPL, NVDA, MSFT, AMZN
Q1 2024 1,165$3.0BLOW, AAPL, MSFT, NVDA, AMZN