Stack Financial Management, Inc
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Stack Financial Management, Inc reported 51 stock positions worth $1.2 billion. Its top holding was Microsoft (MSFT) at 9.9% of the portfolio, followed by Walmart (WMT, 9.0%) and Berkshire Hathaway Class B (BRK.B, 5.0%). Compared with Q2 2025, it opened 2 new positions, added to 12 and reduced 36. The biggest buy was a new position in Salesforce (CRM) and the biggest sale Accenture Class A (ACN, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- WHITEFISH, MT
- CIK
- 0001308685
- Portfolio Value
- $1.2B (Q3 2025)
- SEC Filing
- 0001308685-25-000011 ↗ filed Nov 3, 2025
Holdings Value
Holdings 51 stocks · $1.2B
| MSFT Microsoft Corp. | 9.94% | 231,165 | $119.7M | Reduce -1.3% |
| WMT Walmart Inc. | 8.95% | 1,046,996 | $107.9M | Reduce -0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.97% | 119,012 | $59.8M | Reduce -0.6% |
| PWR Quanta Services Inc. | 4.55% | 132,198 | $54.8M | Reduce -1.5% |
| CRM Salesforce Inc. | 4.35% | 221,154 | $52.4M | New |
| LHX L3HARRIS Technologies Inc. | 3.61% | 142,591 | $43.5M | Reduce -1.5% |
| AEM Agnico Eagle Mines Ltd. | 3.55% | 253,516 | $42.7M | Reduce -1.3% |
| CVX Chevron Corp. | 3.49% | 271,096 | $42.1M | Reduce -1.4% |
| WPM Wheaton Precious Metals Corp. | 3.25% | 350,292 | $39.2M | Reduce -0.7% |
| AEP American Electric Power | 2.69% | 287,654 | $32.4M | Reduce -1.3% |
| WM Waste Management Inc. | 2.67% | 145,641 | $32.2M | Reduce -0.6% |
| PSX Phillips 66 | 2.48% | 219,339 | $29.8M | Reduce -1.1% |
| CNP Centerpoint Energy Inc. | 2.31% | 718,648 | $27.9M | Reduce -0.6% |
| SYK Stryker Corp. | 2.23% | 72,732 | $26.9M | Reduce -0.8% |
| CBOE Cboe Global Markets Inc. | 2.14% | 105,090 | $25.8M | Reduce -1.4% |
| DUK Duke Energy Corp. | 1.97% | 192,239 | $23.8M | Reduce -0.1% |
| NEE Nextera Energy Inc. | 1.95% | 311,977 | $23.6M | Reduce -1.0% |
| EOG EOG Resources Inc. | 1.86% | 199,641 | $22.4M | Reduce -0.5% |
| LMT Lockheed Martin Corp. | 1.85% | 44,709 | $22.3M | Reduce -0.6% |
| KO The Coca-Cola Co. | 1.77% | 322,494 | $21.4M | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 1.75% | 337,352 | $21.1M | Reduce -1.2% |
| CI The Cigna Group | 1.73% | 72,453 | $20.9M | Reduce -0.9% |
| LH Labcorp Holdings Inc. | 1.73% | 72,492 | $20.8M | Reduce -1.5% |
| PCAR Paccar Inc. | 1.69% | 207,622 | $20.4M | Reduce -0.4% |
| EMR Emerson Electric Co. | 1.68% | 154,479 | $20.3M | Reduce -2.0% |
| JNJ Johnson & Johnson | 1.67% | 108,272 | $20.1M | Reduce -0.7% |
| MRK Merck & Co. Inc. | 1.51% | 216,298 | $18.2M | Reduce -0.2% |
| COP Conocophillips | 1.46% | 185,468 | $17.5M | Add +0.4% |
| MDT Medtronic PLC | 1.41% | 177,780 | $16.9M | Reduce -0.1% |
| PEP Pepsico Inc. | 1.37% | 117,327 | $16.5M | Reduce -1.0% |
| CAH Cardinal Health Inc. | 1.36% | 104,694 | $16.4M | Add +0.2% |
| NEM Newmont Corp. | 1.36% | 194,492 | $16.4M | Reduce -0.5% |
| AEE Ameren Corporation | 1.35% | 155,606 | $16.2M | Add +0.3% |
| DTE DTE Energy Company | 1.31% | 111,784 | $15.8M | Add +0.4% |
| DHR Danaher Corp. | 1.26% | 76,369 | $15.1M | Reduce -0.8% |
| PG The Procter & Gamble Co. | 1.22% | 95,661 | $14.7M | Add +0.4% |
| BKR Baker Hughes Co. | 1.18% | 290,962 | $14.2M | Add +1.0% |
| DOV Dover Corp. | 1.10% | 79,632 | $13.3M | Reduce -0.8% |
| UNP Union Pacific Corp. | 0.98% | 50,041 | $11.8M | Add +0.4% |
| GPC Genuine Parts Co. | 0.98% | 85,140 | $11.8M | Reduce -0.7% |
| AMT American Tower Corp. | 0.94% | 59,110 | $11.4M | Add +0.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 1,347 | $897K | Reduce -2.3% |
| GDX Vaneck Gold Miners ETF | 0.07% | 11,578 | $885K | Reduce -31.7% |
| ACN Accenture PLC Class A | 0.06% | 3,124 | $770K | Reduce -97.7% |
| AAPL Apple Inc. | 0.04% | 2,016 | $513K | Reduce -3.8% |
| XLI SS Industrial Select Sector | 0.03% | 2,170 | $335K | Add +1.9% |
| JPM JPMorgan Chase & Co. | 0.03% | 1,046 | $330K | Reduce -4.1% |
| XLV SS Health Care Select Sector | 0.02% | 1,743 | $243K | Add +6.1% |
| INTC Intel Corp. | 0.02% | 6,900 | $231K | New |
| XLE SS Energy Select Sector | 0.02% | 2,548 | $228K | Add +3.0% |
| ITW Illinois Tool Works | 0.02% | 860 | $224K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| ACN Accenture PLC Class A | Reduce -97.7% | 0.06% | −3.55 |
| CI The Cigna Group | Reduce -0.9% | 1.73% | −0.40 |
| MSFT Microsoft Corp. | Reduce -1.3% | 9.94% | −0.35 |
| SYK Stryker Corp. | Reduce -0.8% | 2.23% | −0.33 |
| WM Waste Management Inc. | Reduce -0.6% | 2.67% | −0.29 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.2% | 1.75% | −0.29 |
| EOG EOG Resources Inc. | Reduce -0.5% | 1.86% | −0.26 |
| DOV Dover Corp. | Reduce -0.8% | 1.10% | −0.20 |
| EMR Emerson Electric Co. | Reduce -2.0% | 1.68% | −0.17 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.6% | 4.97% | −0.17 |
| WMT Walmart Inc. | Reduce -0.6% | 8.95% | −0.15 |
| DHR Danaher Corp. | Reduce -0.8% | 1.26% | −0.09 |
| PCAR Paccar Inc. | Reduce -0.4% | 1.69% | −0.06 |
| CBOE Cboe Global Markets Inc. | Reduce -1.4% | 2.14% | −0.06 |
| CNP Centerpoint Energy Inc. | Reduce -0.6% | 2.31% | −0.03 |
| DUK Duke Energy Corp. | Reduce -0.1% | 1.97% | −0.03 |
| PEP Pepsico Inc. | Reduce -1.0% | 1.37% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -0.2% | 1.51% | −0.01 |
| GDX Vaneck Gold Miners ETF | Reduce -31.7% | 0.07% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.3% | 0.07% | −0.00 |
| JPM JPMorgan Chase & Co. | Reduce -4.1% | 0.03% | −0.00 |
| AAPL Apple Inc. | Reduce -3.8% | 0.04% | +0.00 |
| LMT Lockheed Martin Corp. | Reduce -0.6% | 1.85% | +0.01 |
| AEP American Electric Power | Reduce -1.3% | 2.69% | +0.01 |
| CVX Chevron Corp. | Reduce -1.4% | 3.49% | +0.02 |
| LH Labcorp Holdings Inc. | Reduce -1.5% | 1.73% | +0.02 |
| NEE Nextera Energy Inc. | Reduce -1.0% | 1.95% | +0.02 |
| MDT Medtronic PLC | Reduce -0.1% | 1.41% | +0.03 |
| GPC Genuine Parts Co. | Reduce -0.7% | 0.98% | +0.06 |
| PWR Quanta Services Inc. | Reduce -1.5% | 4.55% | +0.06 |
| PSX Phillips 66 | Reduce -1.1% | 2.48% | +0.14 |
| JNJ Johnson & Johnson | Reduce -0.7% | 1.67% | +0.20 |
| NEM Newmont Corp. | Reduce -0.5% | 1.36% | +0.35 |
| LHX L3HARRIS Technologies Inc. | Reduce -1.5% | 3.61% | +0.40 |
| WPM Wheaton Precious Metals Corp. | Reduce -0.7% | 3.25% | +0.45 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.3% | 3.55% | +0.85 |
Portfolio Buys Q2 2025 → Q3 2025
| CRM Salesforce Inc. | New | 4.35% | +4.35 |
| BKR Baker Hughes Co. | Add +1.0% | 1.18% | +0.20 |
| AEE Ameren Corporation | Add +0.3% | 1.35% | +0.03 |
| INTC Intel Corp. | New | 0.02% | +0.02 |
| DTE DTE Energy Company | Add +0.4% | 1.31% | +0.01 |
| XLV SS Health Care Select Sector | Add +6.1% | 0.02% | +0.00 |
| XLE SS Energy Select Sector | Add +3.0% | 0.02% | +0.00 |
| XLI SS Industrial Select Sector | Add +1.9% | 0.03% | 0.00 |
| COP Conocophillips | Add +0.4% | 1.46% | −0.01 |
| UNP Union Pacific Corp. | Add +0.4% | 0.98% | −0.03 |
| PG The Procter & Gamble Co. | Add +0.4% | 1.22% | −0.12 |
| CAH Cardinal Health Inc. | Add +0.2% | 1.36% | −0.19 |
| AMT American Tower Corp. | Add +0.3% | 0.94% | −0.21 |
| KO The Coca-Cola Co. | Add +0.1% | 1.77% | −0.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 54 | $1.3B | WMT, SH, MSFT, PWR, BRK.B |
| Q1 2026 | 52 | $1.4B | SH, WMT, PWR, MSFT, BRK.B |
| Q4 2025 | 59 | $1.3B | WMT, MSFT, SH, BRK.B, CRM |
| Q3 2025 | 51 | $1.2B | MSFT, WMT, BRK.B, PWR, CRM |
| Q2 2025 | 49 | $1.1B | MSFT, WMT, BRK.B, PWR, ACN |
| Q1 2025 | 53 | $1.2B | WMT, MSFT, BRK.B, SH, CVX |
| Q4 2024 | 50 | $1.1B | MSFT, WMT, PWR, BRK.B, ACN |
| Q3 2024 | 48 | $1.1B | MSFT, WMT, BRK.B, PWR, ACN |
| Q2 2024 | 49 | $1.1B | MSFT, WMT, IJR, BRK.B, PWR |
| Q1 2024 | 46 | $1.1B | MSFT, WMT, IJR, BRK.B, PWR |