SFE Investment Counsel

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 5, 2024), SFE Investment Counsel reported 119 stock positions worth $450.9 million. Its top holding was Nvidia (NVDA) at 4.2% of the portfolio, followed by Apple (AAPL, 4.1%) and Qualcomm (QCOM, 3.8%). Compared with Q1 2024, it opened 2 new positions, sold out of 1, added to 52 and reduced 57. The biggest buy was Apple (AAPL, shares +1%) and the biggest sale CVS Health (CVS, shares −78%).

Most Recent 13F
Q2 2026
Location
LOS ANGELES, CA
CIK
0001317784
Portfolio Value
$450.9M (Q2 2024)
SEC Filing
0001085146-24-003503 ↗ filed Aug 5, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $441.4M Q1 2024 Q2 2024: $450.9M $450.9M Q2 2024 Q3 2024: $480.1M Q3 2024 Q4 2024: $470.9M Q4 2024 Q1 2025: $500.5M Q1 2025 Q2 2025: $567.9M Q2 2025 Q3 2025: $626.3M Q3 2025 Q4 2025: $641.3M Q4 2025 Q1 2026: $624.2M Q1 2026 Q2 2026: $726.4M Q2 2026

Holdings 119 stocks · $450.9M
NVDA Nvidia Corp. 4.21% 153,459 $19.0M Reduce -9.0%
AAPL Apple Inc. 4.07% 87,071 $18.3M Add +1.3%
QCOM Qualcomm Inc. 3.82% 86,435 $17.2M Reduce -7.5%
JPM JPMorgan Chase & Co. 3.03% 67,628 $13.7M Reduce -4.4%
AMZN Amazon.com Inc. 2.74% 63,865 $12.3M Reduce -3.0%
OKE Oneok Inc. 2.73% 151,141 $12.3M Reduce -3.1%
PANW Palo Alto Networks Inc. 2.72% 36,217 $12.3M Add +4.3%
AVGO Broadcom Inc. 2.68% 7,517 $12.1M Reduce -10.0%
CLF Cleveland-Cliffs Inc. 2.60% 760,734 $11.7M Add +4.0%
NEE Nextera Energy Inc. 2.47% 157,484 $11.2M Reduce -1.9%
FSLR First Solar Inc. 2.47% 49,397 $11.1M Reduce -10.6%
LOW Lowe's Cos Inc. 2.37% 48,511 $10.7M Add +2.6%
COST Costco Wholesale Corp. 2.22% 11,754 $10.0M Add +1.0%
USB US Bancorp 1.83% 207,674 $8.2M Add +2.1%
MSFT Microsoft Corp. 1.82% 18,379 $8.2M Add +5.2%
CMI Cummins Inc. 1.65% 26,932 $7.5M Reduce -2.0%
GOOGL Alphabet Inc. Class A 1.64% 40,540 $7.4M Reduce -4.2%
BSJQ Invesco Bulletshares 2026 HY 1.64% 320,043 $7.4M Add +3.1%
ABT Abbott Laboratories 1.61% 69,890 $7.3M Add +9.3%
BSJR Invesco Bulletshares 2027 HY 1.50% 306,798 $6.8M Add +31.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.47% 38,430 $6.6M Add +4.5%
BSJS Invesco Bulletshares 2028 HY 1.44% 302,301 $6.5M Add +23.0%
BSJP Invesco Bulletshares 2025 HY 1.41% 276,906 $6.3M Reduce -0.7%
GOOG Alphabet Inc. Class C 1.41% 34,552 $6.3M Reduce -8.4%
DCI Donaldson Co. Inc. 1.33% 83,608 $6.0M Reduce -0.3%
PRU Prudential Financial Inc. 1.28% 49,269 $5.8M Add +0.1%
F Ford Motor Co. filed as FORD MTR CO DEL 1.28% 459,690 $5.8M Add +7.2%
WSM Williams-Sonoma Inc. 1.25% 20,034 $5.7M Reduce -14.5%
HASI Ha Sustainable Infrastructur filed as HANNON ARMSTRONG SUST INFR C 1.20% 182,820 $5.4M Add +0.8%
ABBV Abbvie Inc. 1.20% 31,484 $5.4M Reduce -0.5%
AWK American Water Works Co. Inc. 1.19% 41,592 $5.4M Add +20.5%
BX Blackstone Inc. 1.15% 41,727 $5.2M Add +0.1%
J Jacobs Solutions Inc. 1.14% 36,747 $5.1M Add +7.8%
LHX L3HARRIS Technologies Inc. 1.13% 22,587 $5.1M Add +1.1%
FISV Fiserv Inc. 1.10% 33,337 $5.0M Reduce -2.9%
BDX Becton Dickinson and Co. 1.10% 21,230 $5.0M Reduce -1.4%
ROP Roper Technologies Inc. 1.09% 8,714 $4.9M Add +1.7%
LH Labcorp Holdings Inc. 1.07% 23,678 $4.8M Add +180.3%
ZTS Zoetis Inc. 1.04% 26,947 $4.7M Add +15.8%
BSJT Invesco Bulletshares 2029 HY 0.98% 210,191 $4.4M Add +103.6%
HON Honeywell International Inc. 0.98% 20,613 $4.4M Add +2.4%
URI United Rentals Inc. 0.97% 6,789 $4.4M Add +1.9%
DHR Danaher Corp. 0.89% 15,970 $4.0M Add +9.1%
WY Weyerhaeuser Co. 0.84% 134,180 $3.8M Reduce -3.0%
BSCS Invesco Bulletshares 2028 CB 0.81% 183,598 $3.7M Add +18.4%
JNJ Johnson & Johnson 0.81% 24,886 $3.6M Add +12.4%
AMAT Applied Materials Inc. 0.79% 15,177 $3.6M Reduce -8.4%
FDX FedEx Corp. 0.79% 11,837 $3.5M Reduce -1.4%
BSCQ Invesco Bulletshares 2026 CB 0.73% 171,574 $3.3M Add +7.5%
BSCR Invesco Bulletshares 2027 CB 0.71% 165,498 $3.2M Add +19.4%
EIX Edison International 0.68% 42,600 $3.1M Add +3.1%
CSCO Cisco Systems Inc. 0.66% 62,620 $3.0M Add +3.2%
CWH Camping World Holdings Inc. Class A 0.62% 157,179 $2.8M Add +13.3%
AMD Advanced Micro Devices 0.62% 17,220 $2.8M Add +17.7%
CVX Chevron Corp. 0.61% 17,545 $2.7M Reduce -3.0%
ETN Eaton Corp. PLC 0.59% 8,550 $2.7M Reduce -6.0%
PFE Pfizer Inc. 0.59% 94,579 $2.6M Reduce -7.2%
IQV Iqvia Holdings Inc. 0.58% 12,372 $2.6M Add +287.8%
GE General Electric filed as GE AEROSPACE 0.58% 16,342 $2.6M Reduce -3.0%
BSCP Invesco Bulletshares 2025 CB 0.57% 125,178 $2.6M Reduce -6.2%
BMY Bristol-Myers Squibb Co. 0.50% 54,556 $2.3M Reduce -9.2%
DE Deere & Co. 0.49% 5,877 $2.2M Add +1.4%
PWR Quanta Services Inc. 0.47% 8,275 $2.1M Reduce -5.8%
XYL Xylem Inc. 0.46% 15,300 $2.1M Reduce -1.2%
SYY Sysco Corp. 0.44% 27,482 $2.0M Add +2.1%
TNC Tennant Co. 0.41% 18,929 $1.9M Reduce -2.1%
THO Thor Industries Inc. 0.41% 19,755 $1.8M Reduce -2.7%
BSJO Invesco Bulletshares 2024 HY 0.41% 80,433 $1.8M Reduce -60.9%
BSCT Invesco Bulletshares 2029 CB 0.38% 94,242 $1.7M Add +178.4%
KMI Kinder Morgan Inc. 0.38% 85,995 $1.7M Reduce -1.2%
TTEK Tetra Tech Inc. 0.35% 7,651 $1.6M Reduce -0.2%
EQAL Invesco Russell 1000 Equal W 0.34% 34,766 $1.6M Add +0.8%
CLH Clean Harbors Inc. 0.34% 6,794 $1.5M Reduce -0.6%
BRK.B Berkshire Hathaway Inc. Class B 0.32% 3,537 $1.4M Reduce -10.4%
PNW Pinnacle West Capital 0.31% 18,430 $1.4M Add +1.4%
BA The Boeing Co. 0.29% 7,227 $1.3M Reduce -1.5%
GEV GE Vernova Inc. 0.29% 7,565 $1.3M Add +79.6%
BEP Brookfield Renewable Partner 0.29% 51,927 $1.3M Add +3.1%
T AT&T Inc. 0.28% 65,854 $1.3M Reduce -0.9%
LMNR Limoneira Co. 0.28% 60,010 $1.2M No change
PI Impinj Inc. 0.27% 7,760 $1.2M Reduce -16.0%
DLR Digital Realty Trust Inc. 0.23% 6,864 $1.0M Reduce -3.5%
GLW Corning Inc. 0.21% 24,356 $946K No change
NFLX Netflix Inc. 0.20% 1,335 $901K Add +8.1%
CVS CVS Health Corp. 0.20% 15,130 $894K Reduce -78.2%
EWBC East West Bancorp Inc. 0.17% 10,675 $782K Add +23.8%
BSCO Invesco Bulletshares 2024 CB 0.17% 35,598 $750K Reduce -44.5%
RSPT Invesco S&P 500 Equal Weight 0.15% 17,880 $655K Reduce -4.5%
WDAY Workday Inc. Class A 0.14% 2,840 $635K No change
ISRG Intuitive Surgical Inc. 0.14% 1,404 $625K Reduce -0.4%
SHW The Sherwin-Williams Co. 0.13% 1,890 $564K Add +5.3%
EMR Emerson Electric Co. 0.12% 5,108 $563K Add +0.8%
BSJU Invesco Bulletshares 2030 HY 0.12% 21,646 $550K Add +12.0%
BSCU Invesco Bulletshares 2030 CB 0.12% 33,486 $544K Add +11.7%
MCHP Microchip Technology Inc. 0.11% 5,323 $487K Reduce -1.1%
ULTA Ulta Beauty Inc. 0.10% 1,205 $465K New
LLY Eli Lilly & Co. 0.10% 510 $462K No change
WAT Waters Corp. 0.09% 1,330 $386K Reduce -0.3%
ECL Ecolab Inc. 0.08% 1,599 $381K Reduce -0.6%
IBB iShares Biotechnology ETF 0.08% 2,769 $380K Add +3.3%
STM Stmicroelectronics NV-NY SHS 0.08% 9,551 $375K No change
XLF SS Financial Select Sector 0.08% 8,893 $366K Reduce -6.0%
IGHG Proshares Ig Hedged 0.08% 4,600 $351K No change
XLB SS Materials Select Sector 0.08% 3,965 $350K Reduce -4.8%
IYJ iShares U.S. Industrials ETF 0.08% 2,900 $346K Reduce -6.3%
NOC Northrop Grumman Corp. 0.07% 773 $337K Reduce -8.3%
SBUX Starbucks Corp. 0.07% 4,190 $326K Reduce -1.9%
TTWO Take-Two Interactive Softwre 0.07% 2,090 $325K Reduce -32.9%
INTC Intel Corp. 0.07% 10,303 $319K Reduce -7.8%
CRSP Crispr Therapeutics AG 0.07% 5,846 $316K Add +3.6%
ALB Albemarle Corp. 0.06% 3,020 $288K Reduce -26.3%
UNH Unitedhealth Group Inc. 0.06% 565 $288K Reduce -19.1%
CTVA Corteva Inc. 0.05% 4,470 $241K Reduce -66.8%
TIP iShares Tips Bond ETF 0.05% 2,250 $240K Reduce -1.4%
V Visa Inc. Class A 0.05% 883 $232K Add +1.1%
ERII Energy Recovery Inc. 0.05% 17,330 $230K Add +0.2%
WFC Wells Fargo & Co. 0.04% 3,399 $202K New
VRME Verifyme Inc. 0.03% 100,000 $141K No change
THE REAL GOOD FOOD COMPANY I 0.00% 23,809 $12K No change

Portfolio Sells Q1 2024 → Q2 2024
CVS CVS Health Corp. Reduce -78.2% 0.20% −1.06
BSJO Invesco Bulletshares 2024 HY Reduce -60.9% 0.41% −0.66
WSM Williams-Sonoma Inc. Reduce -14.5% 1.25% −0.43
WY Weyerhaeuser Co. Reduce -3.0% 0.84% −0.28
BMY Bristol-Myers Squibb Co. Reduce -9.2% 0.50% −0.24
CMI Cummins Inc. Reduce -2.0% 1.65% −0.18
JPM JPMorgan Chase & Co. Reduce -4.4% 3.03% −0.18
FISV Fiserv Inc. Reduce -2.9% 1.10% −0.14
BSCO Invesco Bulletshares 2024 CB Reduce -44.5% 0.17% −0.14
THO Thor Industries Inc. Reduce -2.7% 0.41% −0.13
CTVA Corteva Inc. Reduce -66.8% 0.05% −0.12
TNC Tennant Co. Reduce -2.1% 0.41% −0.12
ABBV Abbvie Inc. Reduce -0.5% 1.20% −0.11
BDX Becton Dickinson and Co. Reduce -1.4% 1.10% −0.11
OKE Oneok Inc. Reduce -3.1% 2.73% −0.10
GE General Electric Reduce -3.0% 0.58% −0.09
DCI Donaldson Co. Inc. Reduce -0.3% 1.33% −0.09
ALB Albemarle Corp. Reduce -26.3% 0.06% −0.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -10.4% 0.32% −0.06
VREX Varex Imaging Corp. Sold out 0.00% −0.06
PFE Pfizer Inc. Reduce -7.2% 0.59% −0.05
PWR Quanta Services Inc. Reduce -5.8% 0.47% −0.05
BSCP Invesco Bulletshares 2025 CB Reduce -6.2% 0.57% −0.05
ETN Eaton Corp. PLC Reduce -6.0% 0.59% −0.05
BSJP Invesco Bulletshares 2025 HY Reduce -0.7% 1.41% −0.04
INTC Intel Corp. Reduce -7.8% 0.07% −0.04
CVX Chevron Corp. Reduce -3.0% 0.61% −0.04
TTWO Take-Two Interactive Softwre Reduce -32.9% 0.07% −0.03
BA The Boeing Co. Reduce -1.5% 0.29% −0.03
WAT Waters Corp. Reduce -0.3% 0.09% −0.02
NOC Northrop Grumman Corp. Reduce -8.3% 0.07% −0.02
SBUX Starbucks Corp. Reduce -1.9% 0.07% −0.02
UNH Unitedhealth Group Inc. Reduce -19.1% 0.06% −0.01
IYJ iShares U.S. Industrials ETF Reduce -6.3% 0.08% −0.01
XLB SS Materials Select Sector Reduce -4.8% 0.08% −0.01
XLF SS Financial Select Sector Reduce -6.0% 0.08% −0.01
RSPT Invesco S&P 500 Equal Weight Reduce -4.5% 0.15% −0.00
TIP iShares Tips Bond ETF Reduce -1.4% 0.05% −0.00
MCHP Microchip Technology Inc. Reduce -1.1% 0.11% −0.00
FDX FedEx Corp. Reduce -1.4% 0.79% −0.00
DLR Digital Realty Trust Inc. Reduce -3.5% 0.23% −0.00
ECL Ecolab Inc. Reduce -0.6% 0.08% +0.00
PI Impinj Inc. Reduce -16.0% 0.27% +0.00
XYL Xylem Inc. Reduce -1.2% 0.46% +0.01
ISRG Intuitive Surgical Inc. Reduce -0.4% 0.14% +0.01
T AT&T Inc. Reduce -0.9% 0.28% +0.01
KMI Kinder Morgan Inc. Reduce -1.2% 0.38% +0.02
AMAT Applied Materials Inc. Reduce -8.4% 0.79% +0.02
TTEK Tetra Tech Inc. Reduce -0.2% 0.35% +0.03
CLH Clean Harbors Inc. Reduce -0.6% 0.34% +0.03

Portfolio Buys Q1 2024 → Q2 2024
AAPL Apple Inc. Add +1.3% 4.07% +0.73
LH Labcorp Holdings Inc. Add +180.3% 1.07% +0.65
PANW Palo Alto Networks Inc. Add +4.3% 2.72% +0.49
BSJT Invesco Bulletshares 2029 HY Add +103.6% 0.98% +0.48
IQV Iqvia Holdings Inc. Add +287.8% 0.58% +0.40
BSJR Invesco Bulletshares 2027 HY Add +31.2% 1.50% +0.32
COST Costco Wholesale Corp. Add +1.0% 2.22% +0.28
BSCT Invesco Bulletshares 2029 CB Add +178.4% 0.38% +0.24
AWK American Water Works Co. Inc. Add +20.5% 1.19% +0.24
BSJS Invesco Bulletshares 2028 HY Add +23.0% 1.44% +0.23
MSFT Microsoft Corp. Add +5.2% 1.82% +0.16
ZTS Zoetis Inc. Add +15.8% 1.04% +0.14
GEV GE Vernova Inc. Add +79.6% 0.29% +0.12
BSCS Invesco Bulletshares 2028 CB Add +18.4% 0.81% +0.11
ULTA Ulta Beauty Inc. New 0.10% +0.10
BSCR Invesco Bulletshares 2027 CB Add +19.4% 0.71% +0.10
DHR Danaher Corp. Add +9.1% 0.89% +0.06
LHX L3HARRIS Technologies Inc. Add +1.1% 1.13% +0.05
WFC Wells Fargo & Co. New 0.04% +0.04
HON Honeywell International Inc. Add +2.4% 0.98% +0.04
BSCQ Invesco Bulletshares 2026 CB Add +7.5% 0.73% +0.03
HASI Ha Sustainable Infrastructur Add +0.8% 1.20% +0.03
NFLX Netflix Inc. Add +8.1% 0.20% +0.03
AMD Advanced Micro Devices Add +17.7% 0.62% +0.02
BEP Brookfield Renewable Partner Add +3.1% 0.29% +0.02
EWBC East West Bancorp Inc. Add +23.8% 0.17% +0.02
EIX Edison International Add +3.1% 0.68% +0.02
JNJ Johnson & Johnson Add +12.4% 0.81% +0.01
BSJU Invesco Bulletshares 2030 HY Add +12.0% 0.12% +0.01
BSCU Invesco Bulletshares 2030 CB Add +11.7% 0.12% +0.01
BSJQ Invesco Bulletshares 2026 HY Add +3.1% 1.64% +0.01
PNW Pinnacle West Capital Add +1.4% 0.31% +0.00
ROP Roper Technologies Inc. Add +1.7% 1.09% +0.00
IBB iShares Biotechnology ETF Add +3.3% 0.08% +0.00
V Visa Inc. Class A Add +1.1% 0.05% −0.00
EMR Emerson Electric Co. Add +0.8% 0.12% −0.01
ERII Energy Recovery Inc. Add +0.2% 0.05% −0.01
F Ford Motor Co. Add +7.2% 1.28% −0.01
SHW The Sherwin-Williams Co. Add +5.3% 0.13% −0.02
EQAL Invesco Russell 1000 Equal W Add +0.8% 0.34% −0.02
CRSP Crispr Therapeutics AG Add +3.6% 0.07% −0.02
CSCO Cisco Systems Inc. Add +3.2% 0.66% −0.03
PRU Prudential Financial Inc. Add +0.1% 1.28% −0.03
ABT Abbott Laboratories Add +9.3% 1.61% −0.04
J Jacobs Solutions Inc. Add +7.8% 1.14% −0.05
DE Deere & Co. Add +1.4% 0.49% −0.05
SYY Sysco Corp. Add +2.1% 0.44% −0.06
BX Blackstone Inc. Add +0.1% 1.15% −0.09
URI United Rentals Inc. Add +1.9% 0.97% −0.12
IBM Intl Business Machines Corp. Add +4.5% 1.47% −0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 149$726.4MNVDA, PANW, AAPL, MSFT, AVGO
Q1 2026 140$624.2MNVDA, AAPL, MSFT, OKE, AVGO
Q4 2025 143$641.3MMSFT, NVDA, AAPL, JPM, AVGO
Q3 2025 147$626.3MMSFT, NVDA, AAPL, JPM, AVGO
Q2 2025 141$567.9MMSFT, NVDA, JPM, AAPL, AMZN
Q1 2025 140$500.5MAAPL, NVDA, JPM, QCOM, OKE
Q4 2024 114$470.9MAAPL, NVDA, JPM, AVGO, AMZN
Q3 2024 116$480.1MAAPL, NVDA, QCOM, JPM, OKE
Q2 2024 119$450.9MNVDA, AAPL, QCOM, JPM, AMZN
Q1 2024 117$441.4MCLF, QCOM, NVDA, AAPL, JPM