SFE Investment Counsel

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 25, 2024), SFE Investment Counsel reported 116 stock positions worth $480.1 million. Its top holding was Apple (AAPL) at 4.2% of the portfolio, followed by Nvidia (NVDA, 3.7%) and Qualcomm (QCOM, 3.0%). Compared with Q2 2024, it opened 1 new position, sold out of 5, added to 54 and reduced 55. The biggest buy was Lowe's Cos (LOW, shares +1%) and the biggest sale Qualcomm (QCOM, shares −1%).

Most Recent 13F
Q2 2026
Location
LOS ANGELES, CA
CIK
0001317784
Portfolio Value
$480.1M (Q3 2024)
SEC Filing
0001085146-24-005141 ↗ filed Oct 25, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $441.4M Q1 2024 Q2 2024: $450.9M Q2 2024 Q3 2024: $480.1M $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 116 stocks · $480.1M
AAPL Apple Inc. 4.17% 85,984 $20.0M Reduce -1.3%
NVDA Nvidia Corp. 3.71% 146,492 $17.8M Reduce -4.5%
QCOM Qualcomm Inc. 3.04% 85,779 $14.6M Reduce -0.8%
JPM JPMorgan Chase & Co. 2.93% 66,599 $14.0M Reduce -1.5%
OKE Oneok Inc. 2.82% 148,299 $13.5M Reduce -1.9%
LOW Lowe's Cos Inc. 2.77% 49,018 $13.3M Add +1.1%
NEE Nextera Energy Inc. 2.73% 155,212 $13.1M Reduce -1.4%
PANW Palo Alto Networks Inc. 2.58% 36,241 $12.4M Add +0.1%
AVGO Broadcom Inc. 2.57% 71,399 $12.3M Reduce -5.0%
FSLR First Solar Inc. 2.52% 48,580 $12.1M Reduce -1.6%
AMZN Amazon.com Inc. 2.48% 63,980 $11.9M Add +0.2%
CLF Cleveland-Cliffs Inc. 2.31% 868,670 $11.1M Add +14.2%
COST Costco Wholesale Corp. 2.12% 11,470 $10.2M Reduce -2.4%
USB US Bancorp 1.98% 207,732 $9.5M Add +0.0%
MSFT Microsoft Corp. 1.85% 20,664 $8.9M Add +12.4%
CMI Cummins Inc. 1.81% 26,889 $8.7M Reduce -0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.77% 38,518 $8.5M Add +0.2%
ABT Abbott Laboratories 1.72% 72,343 $8.2M Add +3.5%
BSJQ Invesco Bulletshares 2026 HY 1.51% 308,774 $7.2M Reduce -3.5%
BSJR Invesco Bulletshares 2027 HY 1.48% 313,629 $7.1M Add +2.2%
BSJS Invesco Bulletshares 2028 HY 1.44% 312,884 $6.9M Add +3.5%
GOOGL Alphabet Inc. Class A 1.41% 40,934 $6.8M Add +1.0%
LH Labcorp Holdings Inc. 1.34% 28,779 $6.4M Add +21.5%
HASI Ha Sustainable Infrastructur 1.34% 186,224 $6.4M Add +1.9%
BX Blackstone Inc. 1.32% 41,407 $6.3M Reduce -0.8%
AWK American Water Works Co. Inc. 1.31% 43,010 $6.3M Add +3.4%
WSM Williams-Sonoma Inc. 1.30% 40,195 $6.2M Add +0.3%
ABBV Abbvie Inc. 1.29% 31,478 $6.2M Reduce -0.0%
BSJP Invesco Bulletshares 2025 HY 1.29% 267,508 $6.2M Reduce -3.4%
DCI Donaldson Co. Inc. 1.28% 83,245 $6.1M Reduce -0.4%
PRU Prudential Financial Inc. 1.27% 50,173 $6.1M Add +1.8%
FISV Fiserv Inc. 1.25% 33,489 $6.0M Add +0.5%
GOOG Alphabet Inc. Class C 1.21% 34,659 $5.8M Add +0.3%
URI United Rentals Inc. 1.20% 7,105 $5.8M Add +4.7%
F Ford Motor Co. filed as FORD MTR CO 1.13% 514,445 $5.4M Add +11.9%
LHX L3HARRIS Technologies Inc. 1.13% 22,779 $5.4M Add +0.8%
BSJT Invesco Bulletshares 2029 HY 1.12% 246,294 $5.4M Add +17.2%
ZTS Zoetis Inc. 1.12% 27,461 $5.4M Add +1.9%
BDX Becton Dickinson and Co. 1.12% 22,222 $5.4M Add +4.7%
ROP Roper Technologies Inc. 1.03% 8,879 $4.9M Add +1.9%
J Jacobs Solutions Inc. 1.01% 37,090 $4.9M Add +0.9%
DHR Danaher Corp. 0.98% 16,870 $4.7M Add +5.6%
WY Weyerhaeuser Co. 0.95% 135,120 $4.6M Add +0.7%
HON Honeywell International Inc. 0.92% 21,438 $4.4M Add +4.0%
JNJ Johnson & Johnson 0.86% 25,391 $4.1M Add +2.0%
IQV Iqvia Holdings Inc. 0.84% 16,939 $4.0M Add +36.9%
BSCS Invesco Bulletshares 2028 CB 0.80% 187,504 $3.9M Add +2.1%
EIX Edison International 0.78% 42,730 $3.7M Add +0.3%
BSCQ Invesco Bulletshares 2026 CB 0.71% 174,420 $3.4M Add +1.7%
BSCR Invesco Bulletshares 2027 CB 0.71% 172,924 $3.4M Add +4.5%
FDX FedEx Corp. 0.71% 12,387 $3.4M Add +4.7%
CSCO Cisco Systems Inc. 0.70% 63,320 $3.4M Add +1.1%
ETN Eaton Corp. PLC 0.69% 9,956 $3.3M Add +16.4%
AMD Advanced Micro Devices 0.65% 19,026 $3.1M Add +10.5%
AMAT Applied Materials Inc. 0.63% 14,952 $3.0M Reduce -1.5%
GE General Electric filed as GE AEROSPACE 0.62% 15,860 $3.0M Reduce -3.0%
PWR Quanta Services Inc. 0.57% 9,184 $2.7M Add +11.0%
CVX Chevron Corp. 0.54% 17,515 $2.6M Reduce -0.2%
PFE Pfizer Inc. 0.54% 89,065 $2.6M Reduce -5.8%
BSCP Invesco Bulletshares 2025 CB 0.53% 122,607 $2.5M Reduce -2.0%
XYL Xylem Inc. 0.53% 18,750 $2.5M Add +22.6%
DE Deere & Co. 0.51% 5,897 $2.5M Add +0.3%
BMY Bristol-Myers Squibb Co. 0.49% 45,631 $2.4M Reduce -16.4%
BSCT Invesco Bulletshares 2029 CB 0.46% 117,482 $2.2M Add +24.7%
GEV GE Vernova Inc. 0.46% 8,640 $2.2M Add +14.2%
CWH Camping World Holdings Inc. Class A 0.45% 89,256 $2.2M Reduce -43.2%
THO Thor Industries Inc. 0.43% 18,728 $2.1M Reduce -5.2%
ULTA Ulta Beauty Inc. 0.42% 5,123 $2.0M Add +325.1%
KMI Kinder Morgan Inc. 0.39% 84,995 $1.9M Reduce -1.2%
TNC Tennant Co. 0.38% 18,824 $1.8M Reduce -0.6%
TTEK Tetra Tech Inc. 0.36% 36,330 $1.7M Reduce -5.0%
PNW Pinnacle West Capital 0.34% 18,395 $1.6M Reduce -0.2%
BRK.B Berkshire Hathaway Inc. Class B 0.34% 3,497 $1.6M Reduce -1.1%
LMNR Limoneira Co. 0.33% 60,010 $1.6M No change
EQAL Invesco Russell 1000 Equal W 0.33% 32,533 $1.6M Reduce -6.4%
PI Impinj Inc. 0.32% 7,140 $1.5M Reduce -8.0%
CLH Clean Harbors Inc. 0.32% 6,297 $1.5M Reduce -7.3%
BEP Brookfield Renewable Partner 0.32% 53,708 $1.5M Add +3.4%
T AT&T Inc. 0.28% 61,674 $1.4M Reduce -6.3%
AMTM Amentum Holdings Inc. 0.25% 37,090 $1.2M Add +0.9%
SYY Sysco Corp. 0.23% 14,093 $1.1M Reduce -48.7%
GLW Corning Inc. 0.23% 24,356 $1.1M No change
DLR Digital Realty Trust Inc. 0.20% 6,054 $980K Reduce -11.8%
NFLX Netflix Inc. 0.20% 1,335 $947K No change
EWBC East West Bancorp Inc. 0.19% 10,755 $890K Add +0.8%
BSJU Invesco Bulletshares 2030 HY 0.17% 30,256 $798K Add +39.8%
BA The Boeing Co. 0.16% 4,982 $757K Reduce -31.1%
BSJO Invesco Bulletshares 2024 HY 0.15% 32,564 $740K Reduce -59.5%
SHW The Sherwin-Williams Co. 0.15% 1,875 $716K Reduce -0.8%
WDAY Workday Inc. Class A 0.15% 2,895 $708K Add +1.9%
ISRG Intuitive Surgical Inc. 0.14% 1,354 $665K Reduce -3.6%
RSPT Invesco S&P 500 Equal Weight 0.13% 17,067 $643K Reduce -4.5%
EMR Emerson Electric Co. 0.13% 5,775 $632K Add +13.1%
BSCU Invesco Bulletshares 2030 CB 0.13% 36,354 $616K Add +8.6%
BSCO Invesco Bulletshares 2024 CB 0.12% 26,129 $552K Reduce -26.6%
WAT Waters Corp. 0.10% 1,279 $460K Reduce -3.8%
MCHP Microchip Technology Inc. 0.09% 5,143 $413K Reduce -3.4%
NOC Northrop Grumman Corp. 0.09% 778 $411K Add +0.7%
LLY Eli Lilly & Co. 0.08% 450 $399K Reduce -11.8%
ECL Ecolab Inc. 0.08% 1,516 $387K Reduce -5.2%
IBB iShares Biotechnology ETF 0.08% 2,600 $379K Reduce -6.1%
XLF SS Financial Select Sector 0.08% 8,353 $379K Reduce -6.1%
SBUX Starbucks Corp. 0.08% 3,765 $367K Reduce -10.1%
IYJ iShares U.S. Industrials ETF 0.08% 2,725 $364K Reduce -6.0%
XLB SS Materials Select Sector 0.07% 3,736 $360K Reduce -5.8%
CVS CVS Health Corp. 0.07% 5,691 $358K Reduce -62.4%
UNH Unitedhealth Group Inc. 0.07% 565 $330K No change
CRSP Crispr Therapeutics AG 0.06% 6,312 $297K Add +8.0%
ERII Energy Recovery Inc. 0.06% 16,433 $286K Reduce -5.2%
STM Stmicroelectronics NV-NY SHS 0.06% 9,219 $274K Reduce -3.5%
TTWO Take-Two Interactive Softwre 0.05% 1,540 $237K Reduce -26.3%
ALB Albemarle Corp. 0.05% 2,405 $228K Reduce -20.4%
TSLA Tesla Inc. 0.04% 785 $205K New
IGHG Proshares Ig Hedged 0.04% 2,600 $200K Reduce -43.5%
VRME Verifyme Inc. 0.03% 100,000 $143K No change
THE REAL GOOD FOOD COMPANY I 0.00% 23,809 $10K No change

Portfolio Sells Q2 2024 → Q3 2024
QCOM Qualcomm Inc. Reduce -0.8% 3.04% −0.78
NVDA Nvidia Corp. Reduce -4.5% 3.71% −0.50
BSJO Invesco Bulletshares 2024 HY Reduce -59.5% 0.15% −0.25
SYY Sysco Corp. Reduce -48.7% 0.23% −0.21
CWH Camping World Holdings Inc. Class A Reduce -43.2% 0.45% −0.17
AMAT Applied Materials Inc. Reduce -1.5% 0.63% −0.17
BA The Boeing Co. Reduce -31.1% 0.16% −0.13
BSJQ Invesco Bulletshares 2026 HY Reduce -3.5% 1.51% −0.13
CVS CVS Health Corp. Reduce -62.4% 0.07% −0.12
BSJP Invesco Bulletshares 2025 HY Reduce -3.4% 1.29% −0.12
AVGO Broadcom Inc. Reduce -5.0% 2.57% −0.11
JPM JPMorgan Chase & Co. Reduce -1.5% 2.93% −0.11
COST Costco Wholesale Corp. Reduce -2.4% 2.12% −0.10
CVX Chevron Corp. Reduce -0.2% 0.54% −0.07
INTC Intel Corp. Sold out 0.00% −0.07
CTVA Corteva Inc. Sold out 0.00% −0.05
TIP iShares Tips Bond ETF Sold out 0.00% −0.05
V Visa Inc. Class A Sold out 0.00% −0.05
BSCO Invesco Bulletshares 2024 CB Reduce -26.6% 0.12% −0.05
PFE Pfizer Inc. Reduce -5.8% 0.54% −0.05
DCI Donaldson Co. Inc. Reduce -0.4% 1.28% −0.05
WFC Wells Fargo & Co. Sold out 0.00% −0.04
BSCP Invesco Bulletshares 2025 CB Reduce -2.0% 0.53% −0.04
TNC Tennant Co. Reduce -0.6% 0.38% −0.04
IGHG Proshares Ig Hedged Reduce -43.5% 0.04% −0.04
DLR Digital Realty Trust Inc. Reduce -11.8% 0.20% −0.03
STM Stmicroelectronics NV-NY SHS Reduce -3.5% 0.06% −0.03
CLH Clean Harbors Inc. Reduce -7.3% 0.32% −0.02
TTWO Take-Two Interactive Softwre Reduce -26.3% 0.05% −0.02
MCHP Microchip Technology Inc. Reduce -3.4% 0.09% −0.02
LLY Eli Lilly & Co. Reduce -11.8% 0.08% −0.02
ALB Albemarle Corp. Reduce -20.4% 0.05% −0.02
EQAL Invesco Russell 1000 Equal W Reduce -6.4% 0.33% −0.01
RSPT Invesco S&P 500 Equal Weight Reduce -4.5% 0.13% −0.01
BMY Bristol-Myers Squibb Co. Reduce -16.4% 0.49% −0.01
IBB iShares Biotechnology ETF Reduce -6.1% 0.08% −0.01
ECL Ecolab Inc. Reduce -5.2% 0.08% −0.00
XLB SS Materials Select Sector Reduce -5.8% 0.07% −0.00
XLF SS Financial Select Sector Reduce -6.1% 0.08% −0.00
IYJ iShares U.S. Industrials ETF Reduce -6.0% 0.08% −0.00
ISRG Intuitive Surgical Inc. Reduce -3.6% 0.14% 0.00
T AT&T Inc. Reduce -6.3% 0.28% +0.00
SBUX Starbucks Corp. Reduce -10.1% 0.08% +0.00
ERII Energy Recovery Inc. Reduce -5.2% 0.06% +0.01
TTEK Tetra Tech Inc. Reduce -5.0% 0.36% +0.01
WAT Waters Corp. Reduce -3.8% 0.10% +0.01
KMI Kinder Morgan Inc. Reduce -1.2% 0.39% +0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.1% 0.34% +0.02
THO Thor Industries Inc. Reduce -5.2% 0.43% +0.02
SHW The Sherwin-Williams Co. Reduce -0.8% 0.15% +0.02

Portfolio Buys Q2 2024 → Q3 2024
LOW Lowe's Cos Inc. Add +1.1% 2.77% +0.39
ULTA Ulta Beauty Inc. Add +325.1% 0.42% +0.31
IBM Intl Business Machines Corp. Add +0.2% 1.77% +0.30
LH Labcorp Holdings Inc. Add +21.5% 1.34% +0.27
IQV Iqvia Holdings Inc. Add +36.9% 0.84% +0.26
URI United Rentals Inc. Add +4.7% 1.20% +0.22
GEV GE Vernova Inc. Add +14.2% 0.46% +0.17
FISV Fiserv Inc. Add +0.5% 1.25% +0.15
USB US Bancorp Add +0.0% 1.98% +0.15
BSJT Invesco Bulletshares 2029 HY Add +17.2% 1.12% +0.14
HASI Ha Sustainable Infrastructur Add +1.9% 1.34% +0.14
AWK American Water Works Co. Inc. Add +3.4% 1.31% +0.12
WY Weyerhaeuser Co. Add +0.7% 0.95% +0.11
ABT Abbott Laboratories Add +3.5% 1.72% +0.11
PWR Quanta Services Inc. Add +11.0% 0.57% +0.10
EIX Edison International Add +0.3% 0.78% +0.10
ETN Eaton Corp. PLC Add +16.4% 0.69% +0.09
DHR Danaher Corp. Add +5.6% 0.98% +0.09
ZTS Zoetis Inc. Add +1.9% 1.12% +0.08
BSCT Invesco Bulletshares 2029 CB Add +24.7% 0.46% +0.08
XYL Xylem Inc. Add +22.6% 0.53% +0.07
JNJ Johnson & Johnson Add +2.0% 0.86% +0.05
BSJU Invesco Bulletshares 2030 HY Add +39.8% 0.17% +0.04
TSLA Tesla Inc. New 0.04% +0.04
WSM Williams-Sonoma Inc. Add +0.3% 1.30% +0.04
CSCO Cisco Systems Inc. Add +1.1% 0.70% +0.04
AMD Advanced Micro Devices Add +10.5% 0.65% +0.03
MSFT Microsoft Corp. Add +12.4% 1.85% +0.03
BEP Brookfield Renewable Partner Add +3.4% 0.32% +0.03
DE Deere & Co. Add +0.3% 0.51% +0.03
BDX Becton Dickinson and Co. Add +4.7% 1.12% +0.02
EWBC East West Bancorp Inc. Add +0.8% 0.19% +0.01
NOC Northrop Grumman Corp. Add +0.7% 0.09% +0.01
BSCU Invesco Bulletshares 2030 CB Add +8.6% 0.13% +0.01
EMR Emerson Electric Co. Add +13.1% 0.13% +0.01
WDAY Workday Inc. Class A Add +1.9% 0.15% +0.01
BSCR Invesco Bulletshares 2027 CB Add +4.5% 0.71% +0.00
BSJS Invesco Bulletshares 2028 HY Add +3.5% 1.44% +0.00
LHX L3HARRIS Technologies Inc. Add +0.8% 1.13% +0.00
CRSP Crispr Therapeutics AG Add +8.0% 0.06% −0.01
BSCS Invesco Bulletshares 2028 CB Add +2.1% 0.80% −0.01
AMTM Amentum Holdings Inc. Add +0.9% 0.25% −0.01
PRU Prudential Financial Inc. Add +1.8% 1.27% −0.01
BSCQ Invesco Bulletshares 2026 CB Add +1.7% 0.71% −0.02
BSJR Invesco Bulletshares 2027 HY Add +2.2% 1.48% −0.02
HON Honeywell International Inc. Add +4.0% 0.92% −0.05
ROP Roper Technologies Inc. Add +1.9% 1.03% −0.06
FDX FedEx Corp. Add +4.7% 0.71% −0.08
J Jacobs Solutions Inc. Add +0.9% 1.01% −0.13
PANW Palo Alto Networks Inc. Add +0.1% 2.58% −0.14

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