Townsend & Associates, Inc

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Townsend & Associates, Inc reported 102 stock positions worth $976.5 million. Its top holding was iShares 0-1 Year Treasury Bo (SHV) at 5.8% of the portfolio, followed by iShares Core 1-5 Year Usd Bo (ISTB, 5.0%) and iShares Core High Dividend E (HDV, 4.4%). Compared with Q3 2024, it opened 4 new positions, sold out of 5, added to 36 and reduced 29. The biggest buy was a new position in JNS Hndrsn Incm ETF (JIII) and the biggest sale an exit from Ishr Ibx Usd Invgd CB ETF-Ui (LQD).

Most Recent 13F
Q2 2026
Location
WESTMINSTER, CO
CIK
0001729359
Portfolio Value
$976.5M (Q4 2024)
SEC Filing
0001729359-25-000001 ↗ filed Feb 4, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $857.6M Q1 2024 Q2 2024: $901.2M Q2 2024 Q3 2024: $974.4M Q3 2024 Q4 2024: $976.5M $976.5M Q4 2024 Q1 2025: $959.1M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 102 stocks · $976.5M
SHV iShares 0-1 Year Treasury Bo 5.80% 513,563 $56.7M Add +2.4%
ISTB iShares Core 1-5 Year Usd Bo 5.03% 1,025,796 $49.1M Add +2.0%
HDV iShares Core High Dividend E 4.37% 370,616 $42.7M Reduce -0.4%
IUSV iShares Core S&P U.S. Value 4.34% 446,118 $42.4M Reduce -0.6%
JIII JNS Hndrsn Incm ETF 3.79% 735,798 $37.1M New
GLD SPDR Gold Shares 3.77% 145,442 $36.8M Add +1.3%
AIG American International Group 3.65% 473,857 $35.6M Add +1.7%
TLT iShares 20+ Year Treasury BD 3.59% 398,518 $35.1M Add +3.5%
MHK Mohawk Industries Inc. 3.52% 263,143 $34.4M Add +1.2%
NTR Nutrien Ltd. 3.06% 582,477 $29.9M Add +3.5%
NOMD Nomad Foods Ltd. 2.75% 1,589,052 $26.8M Add +3.2%
PFF iShares Preferred & Income S 2.70% 821,173 $26.4M Add +2.2%
EFV iShares MSCI Eafe Value ETF 2.62% 471,603 $25.6M Add +0.0%
RTX RTX Corp. 2.28% 176,738 $22.2M Add +0.8%
WMT Walmart Inc. 2.20% 231,179 $21.5M Reduce -0.9%
SNA Snap-on Inc. 2.11% 58,170 $20.6M Add +0.8%
BRK.B Berkshire Hathaway Inc. Class B 2.04% 42,447 $19.9M Add +1.2%
WM Waste Management Inc. 1.96% 90,097 $19.2M Add +1.2%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.94% 16,911 $19.0M Add +0.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.88% 149,095 $18.4M Add +1.4%
BKNG Booking Holdings Inc. 1.85% 3,853 $18.1M Reduce -1.3%
GNRC Generac Holdings Inc. 1.84% 109,715 $18.0M Reduce -0.1%
CME Cme Group Inc. 1.84% 77,157 $17.9M Add +2.1%
AER Aercap Holdings NV 1.82% 186,217 $17.8M Add +1.6%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.76% 289,926 $17.2M Add +1.6%
MYRG MYR Group Inc./Delaware 1.68% 106,193 $16.4M Add +2.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.67% 149,641 $16.3M Add +2.4%
TTE Totalenergies SE -Spon ADR 1.66% 274,023 $16.2M Add +3.0%
GNK Genco Shipping & Trading Ltd. 1.57% 1,071,959 $15.3M Add +2.2%
AZO AutoZone Inc. 1.56% 4,608 $15.2M Add +2.6%
ACN Accenture PLC Class A 1.44% 39,318 $14.0M Add +2.6%
CROX Crocs Inc. 1.41% 133,650 $13.8M Add +3.3%
BHP BHP Group Ltd.-Spon ADR 1.39% 270,655 $13.6M Add +3.5%
DHI D.R. Horton Inc. 1.30% 88,287 $12.7M Add +0.3%
EW Edwards Lifesciences Corp. 1.30% 180,751 $12.6M Add +3.3%
DEO Diageo PLC-Sponsored ADR 1.21% 98,926 $11.8M Add +4.3%
IAU iShares Gold Trust 1.18% 222,211 $11.5M Reduce -0.7%
IJR iShares Core S&P Small-Cap E 1.17% 95,628 $11.5M Reduce -1.0%
EMXC iShares MSCI Emr MRK Ex Chna 1.09% 187,009 $10.6M Reduce -0.1%
LMT Lockheed Martin Corp. 0.48% 9,227 $4.7M No change
DUK Duke Energy Corp. 0.45% 40,021 $4.4M Reduce -0.7%
AXP American Express Co. 0.41% 12,724 $4.0M Reduce -5.2%
JPM JPMorgan Chase & Co. 0.41% 15,298 $4.0M Reduce -2.3%
NVR NVR Inc. 0.37% 428 $3.6M Add +4.9%
MSFT Microsoft Corp. 0.33% 7,600 $3.3M No change
AAPL Apple Inc. 0.33% 14,567 $3.2M Reduce -0.5%
VTR Ventas Inc. 0.28% 45,200 $2.7M Reduce -1.4%
VFC VF Corp. 0.28% 108,809 $2.7M Reduce -0.9%
BMY Bristol-Myers Squibb Co. 0.26% 44,525 $2.5M Reduce -0.3%
PEP Pepsico Inc. 0.26% 17,035 $2.5M Reduce -0.2%
BTI British American Tob-SP ADR 0.24% 63,967 $2.3M Reduce -0.9%
GOOG Alphabet Inc. Class C 0.23% 11,256 $2.2M No change
UNH Unitedhealth Group Inc. 0.20% 3,720 $2.0M Reduce -0.8%
CLX Clorox Company 0.20% 11,912 $1.9M Reduce -0.4%
AWK American Water Works Co. Inc. 0.19% 14,831 $1.9M Reduce -0.2%
LYB Lyondellbasell Indu Class A 0.18% 22,648 $1.8M Reduce 0.0%
HAL Halliburton Co. 0.17% 57,521 $1.7M Add +0.6%
JNJ Johnson & Johnson 0.15% 9,985 $1.5M No change
GOOGL Alphabet Inc. Class A 0.15% 7,400 $1.5M Reduce -1.1%
BALL Ball Corp. 0.11% 19,775 $1.1M No change
NVDA Nvidia Corp. 0.11% 7,643 $1.1M Add +3.3%
MCD McDonald's Corp. 0.10% 3,583 $1.0M Reduce -1.4%
BF.B Brown-Forman Corp. Class B 0.10% 29,437 $995K Add +1.8%
AMZN Amazon.com Inc. 0.10% 4,275 $986K Reduce -2.6%
PG The Procter & Gamble Co. 0.10% 5,885 $952K No change
HUBB Hubbell Inc. 0.09% 1,973 $888K No change
WBA Walgreens Boots Alliance Inc. 0.09% 76,080 $865K Add +4.8%
ATR Aptargroup Inc. 0.09% 5,400 $863K No change
KO The Coca-Cola Co. 0.09% 13,605 $849K No change
XOM Exxon Mobil Corp. 0.08% 7,113 $793K No change
MRK Merck & Co. Inc. 0.08% 7,834 $754K Reduce -1.2%
AON Aon PLC Class A 0.07% 1,974 $727K Reduce -1.9%
PPG PPG Industries Inc. 0.07% 5,322 $657K No change
CMCSA Comcast Corp. Class A 0.07% 17,301 $640K No change
MA Mastercard Inc. Class A 0.06% 1,144 $604K No change
HD Home Depot Inc. 0.06% 1,348 $564K No change
ETN Eaton Corp. PLC 0.05% 1,466 $524K No change
COST Costco Wholesale Corp. 0.04% 463 $439K No change
UNP Union Pacific Corp. 0.04% 1,807 $428K Reduce -18.1%
XEL Xcel Energy Inc. 0.04% 6,148 $416K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 8,778 $410K No change
EMR Emerson Electric Co. 0.04% 3,050 $395K No change
VGT Vanguard Info Tech ETF 0.04% 603 $382K No change
VTI VG Morningstar TS MKT ETF-US 0.04% 1,197 $358K Add +55.0%
PNC PNC Financial Services Group 0.04% 1,800 $357K No change
WMB Williams Cos Inc. 0.03% 5,556 $337K No change
LRCX Lam Research Corp. 0.03% 3,919 $319K Reduce -90.0%
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 6,152 $319K Reduce -2.9%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.03% 1,885 $317K No change
GE General Electric filed as GE AEROSPACE 0.03% 1,565 $293K No change
HSY The Hershey Co. 0.03% 1,900 $292K No change
CARR Carrier Global Corp. 0.03% 4,004 $283K No change
LOW Lowe's Cos Inc. 0.03% 1,033 $273K No change
PFE Pfizer Inc. 0.03% 10,210 $272K No change
QQQ Invesco QQQ Trust Series 1 0.03% 468 $246K No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.02% 2,225 $223K No change
RSP Invesco S&P 500 Equal Weight 0.02% 1,157 $211K New
CRM Salesforce Inc. 0.02% 639 $209K New
IXC iShares Global Energy ETF 0.02% 4,992 $205K No change
KMB Kimberly-Clark Corp. 0.02% 1,605 $203K No change
ENTG Entegris Inc. 0.02% 1,880 $201K New
FSCO FS Credit Opportunities Corp. 0.01% 14,999 $105K No change

Portfolio Sells Q3 2024 → Q4 2024
LQD Ishr Ibx Usd Invgd CB ETF-Ui Sold out 0.00% −3.80
HDV iShares Core High Dividend E Reduce -0.4% 4.37% −0.17
IUSV iShares Core S&P U.S. Value Reduce -0.6% 4.34% −0.08
EMXC iShares MSCI Emr MRK Ex Chna Reduce -0.1% 1.09% −0.06
DUK Duke Energy Corp. Reduce -0.7% 0.45% −0.04
PEP Pepsico Inc. Reduce -0.2% 0.26% −0.04
VTR Ventas Inc. Reduce -1.4% 0.28% −0.03
GNRC Generac Holdings Inc. Reduce -0.1% 1.84% −0.03
LYB Lyondellbasell Indu Class A Reduce 0.0% 0.18% −0.03
DAR Darling Ingredients Inc. Sold out 0.00% −0.03
AWK American Water Works Co. Inc. Reduce -0.2% 0.19% −0.02
CCI Crown Castle Inc. Sold out 0.00% −0.02
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.02
OTIS Otis Worldwide Corp. Sold out 0.00% −0.02
UNH Unitedhealth Group Inc. Reduce -0.8% 0.20% −0.02
AAPL Apple Inc. Reduce -0.5% 0.33% −0.01
UNP Union Pacific Corp. Reduce -18.1% 0.04% −0.01
MRK Merck & Co. Inc. Reduce -1.2% 0.08% −0.01
MCD McDonald's Corp. Reduce -1.4% 0.10% −0.01
IGSB iShares 1-5Y Inv Grade Corp. Reduce -2.9% 0.03% −0.00
IAU iShares Gold Trust Reduce -0.7% 1.18% −0.00
CLX Clorox Company Reduce -0.4% 0.20% +0.00
AON Aon PLC Class A Reduce -1.9% 0.07% +0.00
LRCX Lam Research Corp. Reduce -90.0% 0.03% +0.00
BTI British American Tob-SP ADR Reduce -0.9% 0.24% +0.01
BMY Bristol-Myers Squibb Co. Reduce -0.3% 0.26% +0.02
AMZN Amazon.com Inc. Reduce -2.6% 0.10% +0.02
GOOGL Alphabet Inc. Class A Reduce -1.1% 0.15% +0.03
IJR iShares Core S&P Small-Cap E Reduce -1.0% 1.17% +0.04
AXP American Express Co. Reduce -5.2% 0.41% +0.04
JPM JPMorgan Chase & Co. Reduce -2.3% 0.41% +0.05
VFC VF Corp. Reduce -0.9% 0.28% +0.08
BKNG Booking Holdings Inc. Reduce -1.3% 1.85% +0.12
WMT Walmart Inc. Reduce -0.9% 2.20% +0.21

Portfolio Buys Q3 2024 → Q4 2024
JIII JNS Hndrsn Incm ETF New 3.79% +3.79
MYRG MYR Group Inc./Delaware Add +2.1% 1.68% +0.44
NTR Nutrien Ltd. Add +3.5% 3.06% +0.30
DIS The Walt Disney Co. Add +2.4% 1.67% +0.22
SNA Snap-on Inc. Add +0.8% 2.11% +0.18
TJX TJX Companies Inc. Add +1.4% 1.88% +0.16
SHV iShares 0-1 Year Treasury Bo Add +2.4% 5.80% +0.12
AZO AutoZone Inc. Add +2.6% 1.56% +0.08
GLD SPDR Gold Shares Add +1.3% 3.77% +0.07
CME Cme Group Inc. Add +2.1% 1.84% +0.07
ISTB iShares Core 1-5 Year Usd Bo Add +2.0% 5.03% +0.07
GWW WW Grainger Inc. Add +0.6% 1.94% +0.06
BRK.B Berkshire Hathaway Inc. Class B Add +1.2% 2.04% +0.06
WM Waste Management Inc. Add +1.2% 1.96% +0.03
EW Edwards Lifesciences Corp. Add +3.3% 1.30% +0.03
WRB WR Berkley Corp. Add +1.6% 1.76% +0.03
AER Aercap Holdings NV Add +1.6% 1.82% +0.02
RSP Invesco S&P 500 Equal Weight New 0.02% +0.02
CRM Salesforce Inc. New 0.02% +0.02
ENTG Entegris Inc. New 0.02% +0.02
WBA Walgreens Boots Alliance Inc. Add +4.8% 0.09% +0.02
VTI VG Morningstar TS MKT ETF-US Add +55.0% 0.04% +0.01
HAL Halliburton Co. Add +0.6% 0.17% +0.01
NVDA Nvidia Corp. Add +3.3% 0.11% +0.00
RTX RTX Corp. Add +0.8% 2.28% −0.01
PFF iShares Preferred & Income S Add +2.2% 2.70% −0.02
ACN Accenture PLC Class A Add +2.6% 1.44% −0.02
NOMD Nomad Foods Ltd. Add +3.2% 2.75% −0.02
NVR NVR Inc. Add +4.9% 0.37% −0.03
BF.B Brown-Forman Corp. Class B Add +1.8% 0.10% −0.04
TLT iShares 20+ Year Treasury BD Add +3.5% 3.59% −0.05
AIG American International Group Add +1.7% 3.65% −0.05
EFV iShares MSCI Eafe Value ETF Add +0.0% 2.62% −0.06
DEO Diageo PLC-Sponsored ADR Add +4.3% 1.21% −0.09
TTE Totalenergies SE -Spon ADR Add +3.0% 1.66% −0.10
BHP BHP Group Ltd.-Spon ADR Add +3.5% 1.39% −0.11
GNK Genco Shipping & Trading Ltd. Add +2.2% 1.57% −0.13
DHI D.R. Horton Inc. Add +0.3% 1.30% −0.33
CROX Crocs Inc. Add +3.3% 1.41% −0.33
MHK Mohawk Industries Inc. Add +1.2% 3.52% −0.53

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 114$1.2BSHV, ISTB, BHP, JIII, TLT
Q1 2026 113$1.2BSHV, ISTB, BHP, JIII, GLD
Q4 2025 115$1.1BSHV, ISTB, GLD, JIII, TLT
Q3 2025 112$1.1BSHV, ISTB, TLT, JIII, GLD
Q2 2025 112$1.0BSHV, ISTB, JIII, IUSV, HDV
Q1 2025 99$959.1MSHV, ISTB, HDV, JIII, GLD
Q4 2024 102$976.5MSHV, ISTB, HDV, IUSV, JIII
Q3 2024 103$974.4MSHV, ISTB, HDV, IUSV, MHK
Q2 2024 104$901.2MSHV, ISTB, IUSV, MHK, HDV
Q1 2024 104$857.6MSHV, ISTB, IUSV, HDV, LQD