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

0$100.0M$200.0M$300.0M Q3 2024: $191.8M Q3 2024 Q4 2024: $195.2M Q4 2024 Q1 2025: $191.2M $191.2M Q1 2025 Q2 2025: $207.6M Q2 2025 Q3 2025: $237.4M Q3 2025 Q4 2025: $246.2M Q4 2025 Q1 2026: $264.0M Q1 2026 Q2 2026: $287.5M Q2 2026

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%
BX Blackstone Inc. 0.14% 1,901 $266K Add +31.4%
PEP Pepsico Inc. 0.14% 2,002 $263K Add +24.7%
NOW ServiceNow Inc. 0.14% 268 $261K New
ORCL Oracle Corp. 0.13% 1,647 $248K Add +5.5%
LUV Southwest Airlines Co. 0.12% 7,644 $237K No change
SCHV Schwab US Large-Cap Value 0.12% 8,977 $235K New
AXP American Express Co. 0.12% 819 $232K Add +0.7%
XOM Exxon Mobil Corp. 0.12% 2,150 $228K Add +1.9%
INTU Intuit Inc. 0.12% 344 $226K Reduce -2.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.12% 2,116 $222K Add +1.5%
PCY Invesco Emerging Markets Sov 0.11% 11,094 $217K New
NUBD Nuveen ESG US Aggregate Bond 0.11% 9,884 $217K New
CRM Salesforce Inc. 0.11% 753 $211K Add +2.0%
KBDC Kayne Anderson BDC Inc. 0.09% 10,532 $165K New
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.4M (not counted above)
SecurityClassShares / PrincipalValueChange
TELADOC HEALTH INC (TDOC 1.25 06/01/27) NOTE 1.250% 6/0 · principal 1,415,000$1.3MNo change
SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) NOTE 1.500% 2/1 · principal 1,195,000$1.1MReduce -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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 129$287.5MMSFT, AAPL, IVW, SCHF, NVDA
Q1 2026 124$264.0MAAPL, SCHF, IVW, MSFT, NVDA
Q4 2025 123$246.2MAAPL, MSFT, IVW, GOOG, JNJ
Q3 2025 124$237.4MAAPL, MSFT, NVDA, GOOG, IBM
Q2 2025 118$207.6MMSFT, AAPL, IBM, MA, JPM
Q1 2025 114$191.2MMSFT, AAPL, MA, IBM, BRK.B
Q4 2024 111$195.2MAAPL, MSFT, JPM, MA, HD
Q3 2024 103$191.8MAAPL, MSFT, JPM, CMI, HD