SGL Investment Advisors, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), SGL Investment Advisors, Inc. reported 114 stock positions worth $191.2 million. Its top holding was Microsoft (MSFT) at 4.9% of the portfolio, followed by Apple (AAPL, 4.3%) and Mastercard Class A (MA, 3.6%). Compared with Q4 2024, it opened 8 new positions, sold out of 5, added to 71 and reduced 34. The biggest buy was Nvidia (NVDA, shares +517%) and the biggest sale an exit from United Parcel Service Class B (UPS).
- Most Recent 13F
- Q2 2026
- Location
- MISSOULA, MT
- CIK
- 0002043186
- Portfolio Value
- $191.2M (Q1 2025)
- SEC Filing
- 0002043186-25-000003 ↗ filed May 9, 2025
Holdings Value
Holdings 114 stocks · $191.2M
| MSFT Microsoft Corp. | 4.87% | 21,262 | $9.3M | Add +0.5% |
| AAPL Apple Inc. | 4.34% | 41,984 | $8.3M | Add +2.8% |
| MA Mastercard Inc. Class A | 3.60% | 12,120 | $6.9M | Reduce -0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.25% | 24,423 | $6.2M | Reduce -0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.12% | 11,603 | $6.0M | Add +1.6% |
| HD Home Depot Inc. | 3.07% | 16,099 | $5.9M | Add +1.2% |
| JPM JPMorgan Chase & Co. | 2.78% | 20,995 | $5.3M | Reduce -26.3% |
| TRV The Travelers Cos Inc. | 2.75% | 19,388 | $5.3M | Reduce -2.5% |
| JNJ Johnson & Johnson | 2.63% | 32,337 | $5.0M | Add +2.7% |
| IVW iShares S&P 500 Growth ETF | 2.53% | 49,855 | $4.8M | Add +27.4% |
| PANW Palo Alto Networks Inc. | 2.52% | 25,555 | $4.8M | Reduce -10.3% |
| DGX Quest Diagnostics Inc. | 2.46% | 26,715 | $4.7M | Reduce -2.8% |
| CVX Chevron Corp. | 2.45% | 34,139 | $4.7M | Add +1.2% |
| CMI Cummins Inc. | 2.32% | 14,446 | $4.4M | Reduce -0.7% |
| GOOG Alphabet Inc. Class C | 2.24% | 27,493 | $4.3M | Add +1.6% |
| PSA Public Storage | 2.23% | 14,170 | $4.3M | Reduce -2.4% |
| ADBE Adobe Inc. | 2.17% | 10,789 | $4.1M | Add +2.8% |
| ORLY O'reilly Automotive Inc. | 2.13% | 2,991 | $4.1M | Reduce -27.5% |
| META Meta Platforms Inc. Class A | 2.11% | 6,752 | $4.0M | Add +0.8% |
| NVDA Nvidia Corp. | 2.04% | 33,228 | $3.9M | Add +516.7% |
| CAG Conagra Brands Inc. | 2.00% | 165,028 | $3.8M | Add +1.3% |
| NXST Nexstar Media Group Inc. | 1.99% | 23,160 | $3.8M | Add +2.5% |
| SSNC Ss&c Technologies Holdings | 1.85% | 45,475 | $3.5M | Reduce -22.8% |
| UL Unilever PLC | 1.77% | 54,219 | $3.4M | Reduce -2.8% |
| IPG Interpublic Group of Cos Inc. | 1.76% | 133,647 | $3.4M | Reduce -0.8% |
| TSCO Tractor Supply Company | 1.75% | 65,153 | $3.4M | Add +0.1% |
| LHX L3HARRIS Technologies Inc. | 1.74% | 15,233 | $3.3M | Reduce -2.6% |
| SCHW Schwab (charles) Corp. | 1.73% | 39,205 | $3.3M | Add +1.4% |
| IAU iShares Gold Trust | 1.60% | 49,053 | $3.1M | Add +297.5% |
| RMD Resmed Inc. | 1.59% | 12,531 | $3.0M | New |
| WMT Walmart Inc. | 1.54% | 30,254 | $2.9M | Add +539.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.34% | 4,550 | $2.6M | Add +25.1% |
| STE Steris PLC | 1.33% | 11,221 | $2.5M | Reduce -0.8% |
| NULG Nuveen ESG LRG-Cap GRW ETF | 0.99% | 22,707 | $1.9M | Add +4.9% |
| VCIT Vanguard Int-Term Corporate | 0.71% | 16,789 | $1.4M | Add +24.1% |
| IWO iShares Russell 2000 Growth | 0.70% | 5,118 | $1.3M | Add +30.8% |
| GOOGL Alphabet Inc. Class A | 0.62% | 7,696 | $1.2M | Add +3.8% |
| SCHH Schwab US REIT ETF | 0.60% | 54,231 | $1.1M | Add +18.3% |
| SCHF Schwab Intl Equity ETF | 0.57% | 52,618 | $1.1M | Add +14.8% |
| AMZN Amazon.com Inc. | 0.52% | 5,134 | $986K | Add +72.1% |
| TMUS T-Mobile US Inc. | 0.50% | 3,888 | $962K | Reduce -11.2% |
| ACN Accenture PLC Class A | 0.48% | 2,977 | $920K | Add +7.9% |
| MCK McKesson Corp. | 0.46% | 1,274 | $879K | Add +0.8% |
| CMCSA Comcast Corp. Class A | 0.43% | 23,843 | $816K | Reduce -2.4% |
| ESG NT Stoxx US ESG ETF | 0.40% | 5,709 | $773K | Add +4.7% |
| CDNS Cadence Design SYS Inc. | 0.40% | 2,501 | $770K | Reduce -0.9% |
| WTS Watts Water Technologies-A | 0.40% | 3,252 | $764K | Reduce -0.1% |
| KR Kroger Co. | 0.40% | 10,610 | $762K | Reduce -9.3% |
| EFG iShares MSCI Eafe Growth ETF | 0.39% | 7,146 | $755K | Add +14.4% |
| JNK SS SPDR BB High Yield Bond | 0.39% | 7,882 | $745K | Add +26.7% |
| UNH Unitedhealth Group Inc. | 0.38% | 1,900 | $733K | Add +7.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.38% | 8,508 | $727K | Reduce -1.0% |
| PODD Insulet Corp. | 0.38% | 2,816 | $724K | Reduce -18.9% |
| NUSC Nuveen ESG Small-Cap ETF | 0.37% | 18,369 | $715K | Add +8.1% |
| NUDM Nuveen ESG Intl Devel MRK Eq | 0.37% | 20,988 | $700K | Reduce -3.2% |
| WM Waste Management Inc. | 0.36% | 2,976 | $694K | Reduce -1.4% |
| AMAT Applied Materials Inc. | 0.35% | 4,349 | $678K | Add +35.5% |
| TXN Texas Instruments Inc. | 0.35% | 4,031 | $668K | Reduce -2.3% |
| BLK BlackRock Inc. | 0.34% | 709 | $658K | Reduce -0.7% |
| VST Vistra Corp. | 0.34% | 4,545 | $640K | New |
| DECK Deckers Outdoor Corp. | 0.32% | 4,919 | $618K | Add +37.4% |
| IJH iShares Core S&P Midcap ETF | 0.30% | 9,707 | $572K | Add +23.8% |
| ALL Allstate Corp. | 0.30% | 2,807 | $569K | Reduce -0.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.30% | 1,323 | $568K | Reduce -0.8% |
| AMGN Amgen Inc. | 0.29% | 2,071 | $563K | Reduce -2.9% |
| NFLX Netflix Inc. | 0.29% | 492 | $563K | Add +21.2% |
| GRID First TRST Nasd Class Edg Sgiif | 0.28% | 4,279 | $527K | Add +3.0% |
| DES Wisdomtree US Smallcap Divid | 0.26% | 16,108 | $498K | Add +24.9% |
| DBX Dropbox Inc. Class A | 0.24% | 15,768 | $468K | Reduce -1.9% |
| LII Lennox International Inc. | 0.24% | 780 | $450K | Reduce -0.1% |
| CL Colgate-Palmolive Co. | 0.23% | 4,927 | $448K | Reduce -2.6% |
| SCHP Schwab U.S. Tips ETF | 0.23% | 16,558 | $438K | Add +24.9% |
| KO The Coca-Cola Co. | 0.23% | 6,129 | $436K | Add +16.9% |
| VSS Vanguard Ftse All Wo X-US SC | 0.23% | 3,547 | $434K | Add +18.7% |
| VWO Vanguard Ftse Emerging Marke | 0.23% | 9,381 | $431K | Add +20.3% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.21% | 1,596 | $409K | Add +21.5% |
| ISRG Intuitive Surgical Inc. | 0.20% | 712 | $383K | Add +73.7% |
| COST Costco Wholesale Corp. | 0.20% | 370 | $373K | Add +1.1% |
| ETHO Amplify Etho Climate Leaders | 0.19% | 6,550 | $362K | Add +7.5% |
| LIN Linde PLC | 0.18% | 757 | $343K | Add +29.2% |
| ABT Abbott Laboratories | 0.18% | 2,506 | $336K | Add +30.2% |
| PM Philip Morris International | 0.17% | 1,937 | $333K | Add +38.4% |
| MCD McDonald's Corp. | 0.17% | 1,048 | $328K | Add +25.5% |
| ABBV Abbvie Inc. | 0.17% | 1,701 | $316K | Add +34.9% |
| PG The Procter & Gamble Co. | 0.16% | 1,984 | $315K | Add +13.1% |
| MS Morgan Stanley | 0.16% | 2,545 | $310K | Add +30.3% |
| AVGO Broadcom Inc. | 0.16% | 1,466 | $305K | Add +32.3% |
| GE General Electric filed as GE AEROSPACE | 0.16% | 1,413 | $303K | Add +3.6% |
| WFC Wells Fargo & Co. | 0.16% | 4,123 | $302K | Add +15.8% |
| GS Goldman Sachs Group Inc. | 0.16% | 533 | $302K | Add +33.6% |
| VZ Verizon Communications Inc. | 0.16% | 6,877 | $300K | Reduce -2.1% |
| LLY Eli Lilly & Co. | 0.16% | 399 | $300K | Add +30.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.16% | 7,188 | $299K | Add +33.0% |
| MRK Merck & Co. Inc. | 0.15% | 3,779 | $293K | Add +28.5% |
| TSLA Tesla Inc. | 0.15% | 1,028 | $293K | Add +36.0% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.15% | 6,757 | $291K | Add +17.4% |
| SUSB iShares ESG Aware 1-5 Year U | 0.15% | 11,418 | $284K | New |
| AMD Advanced Micro Devices | 0.15% | 2,787 | $283K | Reduce -50.2% |
| V Visa Inc. Class A | 0.15% | 793 | $279K | Add +2.9% |
| CSCO Cisco Systems Inc. | 0.14% | 4,577 | $273K | Add +1.5% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 1,415,000 | $1.3M | No change |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 1,195,000 | $1.1M | Reduce -0.4% |
Total filed on the 13F, all lines: $193.6M.
Portfolio Sells Q4 2024 → Q1 2025
| UPS United Parcel Service Class B | Sold out | 0.00% | −1.79 |
| ICLR Icon PLC | Sold out | 0.00% | −1.55 |
| DHR Danaher Corp. | Sold out | 0.00% | −1.38 |
| JPM JPMorgan Chase & Co. | Reduce -26.3% | 2.78% | −1.23 |
| SSNC Ss&c Technologies Holdings | Reduce -22.8% | 1.85% | −0.81 |
| ORLY O'reilly Automotive Inc. | Reduce -27.5% | 2.13% | −0.67 |
| CMI Cummins Inc. | Reduce -0.7% | 2.32% | −0.40 |
| PANW Palo Alto Networks Inc. | Reduce -10.3% | 2.52% | −0.35 |
| SRE Sempra | Sold out | 0.00% | −0.34 |
| AMD Advanced Micro Devices | Reduce -50.2% | 0.15% | −0.17 |
| PODD Insulet Corp. | Reduce -18.9% | 0.38% | −0.12 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.11 |
| IPG Interpublic Group of Cos Inc. | Reduce -0.8% | 1.76% | −0.08 |
| TMUS T-Mobile US Inc. | Reduce -11.2% | 0.50% | −0.07 |
| TXN Texas Instruments Inc. | Reduce -2.3% | 0.35% | −0.03 |
| AMGN Amgen Inc. | Reduce -2.9% | 0.29% | −0.03 |
| DBX Dropbox Inc. Class A | Reduce -1.9% | 0.24% | −0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -0.8% | 0.30% | −0.01 |
| BLK BlackRock Inc. | Reduce -0.7% | 0.34% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -2.4% | 0.43% | −0.01 |
| LII Lennox International Inc. | Reduce -0.1% | 0.24% | −0.01 |
| PSA Public Storage | Reduce -2.4% | 2.23% | −0.00 |
| KR Kroger Co. | Reduce -9.3% | 0.40% | +0.00 |
| BNY Bank of New York Mellon Corp. | Reduce -1.0% | 0.38% | +0.00 |
| CL Colgate-Palmolive Co. | Reduce -2.6% | 0.23% | +0.01 |
| VZ Verizon Communications Inc. | Reduce -2.1% | 0.16% | +0.01 |
| WM Waste Management Inc. | Reduce -1.4% | 0.36% | +0.01 |
| NUDM Nuveen ESG Intl Devel MRK Eq | Reduce -3.2% | 0.37% | +0.01 |
| INTU Intuit Inc. | Reduce -2.8% | 0.12% | +0.01 |
| CDNS Cadence Design SYS Inc. | Reduce -0.9% | 0.40% | +0.02 |
| ALL Allstate Corp. | Reduce -0.1% | 0.30% | +0.03 |
| WTS Watts Water Technologies-A | Reduce -0.1% | 0.40% | +0.03 |
| IBM Intl Business Machines Corp. | Reduce -0.1% | 3.25% | +0.04 |
| STE Steris PLC | Reduce -0.8% | 1.33% | +0.06 |
| MA Mastercard Inc. Class A | Reduce -0.6% | 3.60% | +0.07 |
| UL Unilever PLC | Reduce -2.8% | 1.77% | +0.09 |
| LHX L3HARRIS Technologies Inc. | Reduce -2.6% | 1.74% | +0.13 |
| DGX Quest Diagnostics Inc. | Reduce -2.8% | 2.46% | +0.14 |
| TRV The Travelers Cos Inc. | Reduce -2.5% | 2.75% | +0.29 |
Portfolio Buys Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Add +516.7% | 2.04% | +1.68 |
| RMD Resmed Inc. | New | 1.59% | +1.59 |
| WMT Walmart Inc. | Add +539.1% | 1.54% | +1.29 |
| IAU iShares Gold Trust | Add +297.5% | 1.60% | +1.25 |
| MSFT Microsoft Corp. | Add +0.5% | 4.87% | +0.44 |
| IVW iShares S&P 500 Growth ETF | Add +27.4% | 2.53% | +0.43 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.6% | 3.12% | +0.35 |
| VST Vistra Corp. | New | 0.34% | +0.34 |
| NXST Nexstar Media Group Inc. | Add +2.5% | 1.99% | +0.26 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +25.1% | 1.34% | +0.22 |
| AMZN Amazon.com Inc. | Add +72.1% | 0.52% | +0.17 |
| VCIT Vanguard Int-Term Corporate | Add +24.1% | 0.71% | +0.15 |
| SUSB iShares ESG Aware 1-5 Year U | New | 0.15% | +0.15 |
| NOW ServiceNow Inc. | New | 0.14% | +0.14 |
| JNJ Johnson & Johnson | Add +2.7% | 2.63% | +0.13 |
| SCHV Schwab US Large-Cap Value | New | 0.12% | +0.12 |
| IWO iShares Russell 2000 Growth | Add +30.8% | 0.70% | +0.12 |
| PCY Invesco Emerging Markets Sov | New | 0.11% | +0.11 |
| NUBD Nuveen ESG US Aggregate Bond | New | 0.11% | +0.11 |
| SCHF Schwab Intl Equity ETF | Add +14.8% | 0.57% | +0.11 |
| SCHW Schwab (charles) Corp. | Add +1.4% | 1.73% | +0.10 |
| SCHH Schwab US REIT ETF | Add +18.3% | 0.60% | +0.09 |
| KBDC Kayne Anderson BDC Inc. | New | 0.09% | +0.09 |
| JNK SS SPDR BB High Yield Bond | Add +26.7% | 0.39% | +0.08 |
| NFLX Netflix Inc. | Add +21.2% | 0.29% | +0.08 |
| ISRG Intuitive Surgical Inc. | Add +73.7% | 0.20% | +0.08 |
| MCK McKesson Corp. | Add +0.8% | 0.46% | +0.07 |
| PM Philip Morris International | Add +38.4% | 0.17% | +0.07 |
| EFG iShares MSCI Eafe Growth ETF | Add +14.4% | 0.39% | +0.06 |
| AMAT Applied Materials Inc. | Add +35.5% | 0.35% | +0.06 |
| SCHP Schwab U.S. Tips ETF | Add +24.9% | 0.23% | +0.05 |
| VSS Vanguard Ftse All Wo X-US SC | Add +18.7% | 0.23% | +0.05 |
| ABT Abbott Laboratories | Add +30.2% | 0.18% | +0.05 |
| IJH iShares Core S&P Midcap ETF | Add +23.8% | 0.30% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +20.3% | 0.23% | +0.04 |
| KO The Coca-Cola Co. | Add +16.9% | 0.23% | +0.04 |
| LIN Linde PLC | Add +29.2% | 0.18% | +0.04 |
| DECK Deckers Outdoor Corp. | Add +37.4% | 0.32% | +0.04 |
| ABBV Abbvie Inc. | Add +34.9% | 0.17% | +0.04 |
| MCD McDonald's Corp. | Add +25.5% | 0.17% | +0.04 |
| DES Wisdomtree US Smallcap Divid | Add +24.9% | 0.26% | +0.04 |
| VNQI Vanguard GLBL Ex-US Real Est | Add +17.4% | 0.15% | +0.03 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +21.5% | 0.21% | +0.03 |
| BAC Bank of America Corp. | Add +33.0% | 0.16% | +0.03 |
| AVGO Broadcom Inc. | Add +32.3% | 0.16% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +33.6% | 0.16% | +0.03 |
| MS Morgan Stanley | Add +30.3% | 0.16% | +0.03 |
| MRK Merck & Co. Inc. | Add +28.5% | 0.15% | +0.02 |
| TSLA Tesla Inc. | Add +36.0% | 0.15% | +0.02 |
| LLY Eli Lilly & Co. | Add +30.8% | 0.16% | +0.02 |
Notes & Other Activity Q4 2024 → Q1 2025
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | Reduce -0.4% | 1,195,000 | $1.1M |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | Sold out | 729,000 | $742Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 129 | $287.5M | MSFT, AAPL, IVW, SCHF, NVDA |
| Q1 2026 | 124 | $264.0M | AAPL, SCHF, IVW, MSFT, NVDA |
| Q4 2025 | 123 | $246.2M | AAPL, MSFT, IVW, GOOG, JNJ |
| Q3 2025 | 124 | $237.4M | AAPL, MSFT, NVDA, GOOG, IBM |
| Q2 2025 | 118 | $207.6M | MSFT, AAPL, IBM, MA, JPM |
| Q1 2025 | 114 | $191.2M | MSFT, AAPL, MA, IBM, BRK.B |
| Q4 2024 | 111 | $195.2M | AAPL, MSFT, JPM, MA, HD |
| Q3 2024 | 103 | $191.8M | AAPL, MSFT, JPM, CMI, HD |