Stack Financial Management, Inc
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Stack Financial Management, Inc reported 59 stock positions worth $1.3 billion. Its top holding was Walmart (WMT) at 8.7% of the portfolio, followed by Microsoft (MSFT, 8.4%) and Proshares Short S&P500 (SH, 6.9%). Compared with Q3 2025, it opened 8 new positions, added to 9 and reduced 40. The biggest buy was a new position in Proshares Short S&P500 (SH) and the biggest sale Microsoft (MSFT, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- WHITEFISH, MT
- CIK
- 0001308685
- Portfolio Value
- $1.3B (Q4 2025)
- SEC Filing
- 0001308685-26-000002 ↗ filed Feb 3, 2026
Holdings Value
Holdings 59 stocks · $1.3B
| WMT Walmart Inc. | 8.65% | 1,018,502 | $113.5M | Reduce -2.7% |
| MSFT Microsoft Corp. | 8.36% | 226,629 | $109.6M | Reduce -2.0% |
| SH Proshares Short S&P500 | 6.89% | 2,505,870 | $90.3M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 4.55% | 118,724 | $59.7M | Reduce -0.2% |
| CRM Salesforce Inc. | 4.43% | 219,193 | $58.1M | Reduce -0.9% |
| PWR Quanta Services Inc. | 4.17% | 129,592 | $54.7M | Reduce -2.0% |
| LHX L3HARRIS Technologies Inc. | 3.17% | 141,806 | $41.6M | Reduce -0.6% |
| CVX Chevron Corp. | 3.13% | 269,383 | $41.1M | Reduce -0.6% |
| WPM Wheaton Precious Metals Corp. | 3.08% | 343,649 | $40.4M | Reduce -1.9% |
| AEP American Electric Power | 2.48% | 282,599 | $32.6M | Reduce -1.8% |
| WM Waste Management Inc. | 2.44% | 145,802 | $32.0M | Add +0.1% |
| AEM Agnico Eagle Mines Ltd. | 2.32% | 179,580 | $30.4M | Reduce -29.2% |
| PSX Phillips 66 | 2.14% | 217,473 | $28.1M | Reduce -0.8% |
| CNP Centerpoint Energy Inc. | 2.10% | 717,531 | $27.5M | Reduce -0.2% |
| CBOE Cboe Global Markets Inc. | 1.98% | 103,643 | $26.0M | Reduce -1.4% |
| SYK Stryker Corp. | 1.95% | 72,867 | $25.6M | Add +0.2% |
| NEE Nextera Energy Inc. | 1.89% | 308,616 | $24.8M | Reduce -1.1% |
| T AT&T Inc. | 1.79% | 945,573 | $23.5M | New |
| PCAR Paccar Inc. | 1.71% | 204,499 | $22.4M | Reduce -1.5% |
| MRK Merck & Co. Inc. | 1.69% | 210,381 | $22.1M | Reduce -2.7% |
| KO The Coca-Cola Co. | 1.69% | 316,227 | $22.1M | Reduce -1.9% |
| DUK Duke Energy Corp. | 1.68% | 188,312 | $22.1M | Reduce -2.0% |
| JNJ Johnson & Johnson | 1.64% | 103,889 | $21.5M | Reduce -4.0% |
| CAH Cardinal Health Inc. | 1.61% | 102,897 | $21.1M | Reduce -1.7% |
| LMT Lockheed Martin Corp. | 1.60% | 43,403 | $21.0M | Reduce -2.9% |
| EOG EOG Resources Inc. | 1.57% | 195,605 | $20.5M | Reduce -2.0% |
| EMR Emerson Electric Co. | 1.54% | 152,001 | $20.2M | Reduce -1.6% |
| CI The Cigna Group | 1.53% | 72,784 | $20.0M | Add +0.5% |
| LH Labcorp Holdings Inc. | 1.37% | 71,674 | $18.0M | Reduce -1.1% |
| MDLZ Mondelez International Inc. Class A | 1.36% | 332,026 | $17.9M | Reduce -1.6% |
| DHR Danaher Corp. | 1.33% | 76,380 | $17.5M | Add +0.0% |
| COP Conocophillips | 1.29% | 181,193 | $17.0M | Reduce -2.3% |
| PEP Pepsico Inc. | 1.27% | 116,361 | $16.7M | Reduce -0.8% |
| MDT Medtronic PLC | 1.27% | 173,509 | $16.7M | Reduce -2.4% |
| AEE Ameren Corporation | 1.16% | 152,444 | $15.2M | Reduce -2.0% |
| DOV Dover Corp. | 1.14% | 76,345 | $14.9M | Reduce -4.1% |
| DTE DTE Energy Company | 1.08% | 110,258 | $14.2M | Reduce -1.4% |
| UPS United Parcel Service Class B | 1.05% | 139,113 | $13.8M | New |
| PG The Procter & Gamble Co. | 1.02% | 92,982 | $13.3M | Reduce -2.8% |
| BKR Baker Hughes Co. | 1.00% | 287,275 | $13.1M | Reduce -1.3% |
| UNP Union Pacific Corp. | 0.88% | 49,810 | $11.5M | Reduce -0.5% |
| NEM Newmont Corp. | 0.85% | 111,000 | $11.1M | Reduce -42.9% |
| GPC Genuine Parts Co. | 0.77% | 82,249 | $10.1M | Reduce -3.4% |
| AMT American Tower Corp. | 0.77% | 57,390 | $10.1M | Reduce -2.9% |
| AAPL Apple Inc. | 0.13% | 6,174 | $1.7M | Add +206.3% |
| GDX Vaneck Gold Miners ETF | 0.09% | 14,247 | $1.2M | Add +23.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 1,304 | $889K | Reduce -3.2% |
| ACN Accenture PLC Class A | 0.05% | 2,424 | $650K | Reduce -22.4% |
| GOOGL Alphabet Inc. Class A | 0.04% | 1,580 | $495K | New |
| GOOG Alphabet Inc. Class C | 0.03% | 1,321 | $415K | New |
| XLI SS Industrial Select Sector | 0.03% | 2,436 | $378K | Add +12.3% |
| XLV SS Health Care Select Sector | 0.03% | 2,265 | $351K | Add +29.9% |
| JPM JPMorgan Chase & Co. | 0.03% | 1,046 | $337K | No change |
| XLE SS Energy Select Sector | 0.02% | 5,850 | $262K | Add +14.8% |
| XLP SS Consumer Staples Sel Sect | 0.02% | 3,345 | $260K | New |
| INTC Intel Corp. | 0.02% | 6,360 | $235K | Reduce -7.8% |
| XLF SS Financial Select Sector | 0.02% | 3,912 | $214K | New |
| ITW Illinois Tool Works | 0.02% | 860 | $212K | No change |
| TSLA Tesla Inc. | 0.02% | 453 | $204K | New |
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -2.0% | 8.36% | −1.58 |
| AEM Agnico Eagle Mines Ltd. | Reduce -29.2% | 2.32% | −1.22 |
| NEM Newmont Corp. | Reduce -42.9% | 0.85% | −0.52 |
| LHX L3HARRIS Technologies Inc. | Reduce -0.6% | 3.17% | −0.44 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 4.55% | −0.41 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.6% | 1.36% | −0.39 |
| PWR Quanta Services Inc. | Reduce -2.0% | 4.17% | −0.38 |
| CVX Chevron Corp. | Reduce -0.6% | 3.13% | −0.36 |
| LH Labcorp Holdings Inc. | Reduce -1.1% | 1.37% | −0.36 |
| PSX Phillips 66 | Reduce -0.8% | 2.14% | −0.34 |
| WMT Walmart Inc. | Reduce -2.7% | 8.65% | −0.30 |
| EOG EOG Resources Inc. | Reduce -2.0% | 1.57% | −0.29 |
| DUK Duke Energy Corp. | Reduce -2.0% | 1.68% | −0.29 |
| LMT Lockheed Martin Corp. | Reduce -2.9% | 1.60% | −0.25 |
| DTE DTE Energy Company | Reduce -1.4% | 1.08% | −0.23 |
| CNP Centerpoint Energy Inc. | Reduce -0.2% | 2.10% | −0.22 |
| GPC Genuine Parts Co. | Reduce -3.4% | 0.77% | −0.21 |
| PG The Procter & Gamble Co. | Reduce -2.8% | 1.02% | −0.20 |
| AEP American Electric Power | Reduce -1.8% | 2.48% | −0.20 |
| AEE Ameren Corporation | Reduce -2.0% | 1.16% | −0.19 |
| BKR Baker Hughes Co. | Reduce -1.3% | 1.00% | −0.18 |
| AMT American Tower Corp. | Reduce -2.9% | 0.77% | −0.17 |
| WPM Wheaton Precious Metals Corp. | Reduce -1.9% | 3.08% | −0.17 |
| COP Conocophillips | Reduce -2.3% | 1.29% | −0.16 |
| CBOE Cboe Global Markets Inc. | Reduce -1.4% | 1.98% | −0.15 |
| EMR Emerson Electric Co. | Reduce -1.6% | 1.54% | −0.14 |
| MDT Medtronic PLC | Reduce -2.4% | 1.27% | −0.13 |
| UNP Union Pacific Corp. | Reduce -0.5% | 0.88% | −0.10 |
| PEP Pepsico Inc. | Reduce -0.8% | 1.27% | −0.09 |
| KO The Coca-Cola Co. | Reduce -1.9% | 1.69% | −0.09 |
| NEE Nextera Energy Inc. | Reduce -1.1% | 1.89% | −0.07 |
| JNJ Johnson & Johnson | Reduce -4.0% | 1.64% | −0.03 |
| ACN Accenture PLC Class A | Reduce -22.4% | 0.05% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.2% | 0.07% | −0.01 |
| INTC Intel Corp. | Reduce -7.8% | 0.02% | −0.00 |
| PCAR Paccar Inc. | Reduce -1.5% | 1.71% | +0.01 |
| DOV Dover Corp. | Reduce -4.1% | 1.14% | +0.03 |
| CRM Salesforce Inc. | Reduce -0.9% | 4.43% | +0.08 |
| MRK Merck & Co. Inc. | Reduce -2.7% | 1.69% | +0.18 |
| CAH Cardinal Health Inc. | Reduce -1.7% | 1.61% | +0.25 |
Portfolio Buys Q3 2025 → Q4 2025
| SH Proshares Short S&P500 | New | 6.89% | +6.89 |
| T AT&T Inc. | New | 1.79% | +1.79 |
| UPS United Parcel Service Class B | New | 1.05% | +1.05 |
| AAPL Apple Inc. | Add +206.3% | 0.13% | +0.09 |
| DHR Danaher Corp. | Add +0.0% | 1.33% | +0.08 |
| GOOGL Alphabet Inc. Class A | New | 0.04% | +0.04 |
| GOOG Alphabet Inc. Class C | New | 0.03% | +0.03 |
| XLP SS Consumer Staples Sel Sect | New | 0.02% | +0.02 |
| GDX Vaneck Gold Miners ETF | Add +23.1% | 0.09% | +0.02 |
| XLF SS Financial Select Sector | New | 0.02% | +0.02 |
| TSLA Tesla Inc. | New | 0.02% | +0.02 |
| XLV SS Health Care Select Sector | Add +29.9% | 0.03% | +0.01 |
| XLE SS Energy Select Sector | Add +14.8% | 0.02% | +0.00 |
| XLI SS Industrial Select Sector | Add +12.3% | 0.03% | +0.00 |
| CI The Cigna Group | Add +0.5% | 1.53% | −0.21 |
| WM Waste Management Inc. | Add +0.1% | 2.44% | −0.23 |
| SYK Stryker Corp. | Add +0.2% | 1.95% | −0.28 |
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 |