Townsend & Associates, Inc

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 25, 2025), Townsend & Associates, Inc reported 99 stock positions worth $959.1 million. Its top holding was iShares 0-1 Year Treasury Bo (SHV) at 6.7% of the portfolio, followed by iShares Core 1-5 Year Usd Bo (ISTB, 5.5%) and iShares Core High Dividend E (HDV, 4.3%). Compared with Q4 2024, it opened 4 new positions, sold out of 7, added to 33 and reduced 33. The biggest buy was iShares MSCI Eafe Value ETF (EFV, shares +36%) and the biggest sale an exit from iShares Core S&P Small-Cap E (IJR).

Most Recent 13F
Q2 2026
Location
WESTMINSTER, CO
CIK
0001729359
Portfolio Value
$959.1M (Q1 2025)
SEC Filing
0001729359-25-000003 ↗ filed Apr 25, 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 Q4 2024 Q1 2025: $959.1M $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 99 stocks · $959.1M
SHV iShares 0-1 Year Treasury Bo 6.70% 582,608 $64.3M Add +13.4%
ISTB iShares Core 1-5 Year Usd Bo 5.49% 1,093,148 $52.7M Add +6.6%
HDV iShares Core High Dividend E 4.34% 373,146 $41.6M Add +0.7%
JIII JNS Hndrsn Incm ETF 4.17% 808,084 $40.0M Add +9.8%
GLD SPDR Gold Shares 4.10% 124,705 $39.4M Reduce -14.3%
TLT iShares 20+ Year Treasury BD 4.04% 450,544 $38.7M Add +13.1%
IUSV iShares Core S&P U.S. Value 3.95% 450,286 $37.9M Add +0.9%
EFV iShares MSCI Eafe Value ETF 3.92% 643,555 $37.6M Add +36.5%
NTR Nutrien Ltd. 3.71% 677,250 $35.6M Add +16.3%
AIG American International Group 3.53% 426,136 $33.8M Reduce -10.1%
NOMD Nomad Foods Ltd. 3.31% 1,617,466 $31.8M Add +1.8%
PFF iShares Preferred & Income S 2.86% 937,242 $27.5M Add +14.1%
MHK Mohawk Industries Inc. 2.73% 261,588 $26.2M Reduce -0.6%
TTE Totalenergies SE -Spon ADR 2.00% 332,070 $19.2M Add +21.2%
BRK.B Berkshire Hathaway Inc. Class B 2.00% 37,844 $19.2M Reduce -10.8%
CME Cme Group Inc. 1.93% 71,028 $18.5M Reduce -7.9%
RTX RTX Corp. 1.87% 142,091 $17.9M Reduce -19.6%
WM Waste Management Inc. 1.84% 77,593 $17.7M Reduce -13.9%
BHP BHP Group Ltd.-Spon ADR 1.76% 360,500 $16.9M Add +33.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.76% 250,801 $16.9M Reduce -13.5%
AZO AutoZone Inc. 1.67% 4,491 $16.0M Reduce -2.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.66% 128,433 $15.9M Reduce -13.9%
GNK Genco Shipping & Trading Ltd. 1.61% 1,261,959 $15.5M Add +17.7%
SNA Snap-on Inc. 1.61% 52,890 $15.5M Reduce -9.1%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.60% 15,713 $15.4M Reduce -7.1%
DEO Diageo PLC-Sponsored ADR 1.60% 139,903 $15.3M Add +41.4%
AER Aercap Holdings NV 1.56% 158,042 $14.9M Reduce -15.1%
EW Edwards Lifesciences Corp. 1.55% 214,799 $14.9M Add +18.8%
WMT Walmart Inc. 1.54% 159,705 $14.8M Reduce -30.9%
BKNG Booking Holdings Inc. 1.49% 3,229 $14.3M Reduce -16.2%
IAU iShares Gold Trust 1.48% 220,399 $14.2M Reduce -0.8%
MYRG MYR Group Inc./Delaware 1.46% 127,824 $14.0M Add +20.4%
CROX Crocs Inc. 1.45% 155,118 $13.9M Add +16.1%
ACN Accenture PLC Class A 1.30% 44,643 $12.5M Add +13.5%
DHI D.R. Horton Inc. 1.29% 102,103 $12.3M Add +15.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.26% 143,798 $12.1M Reduce -3.9%
GNRC Generac Holdings Inc. 1.23% 110,749 $11.8M Add +0.9%
EMXC iShares MSCI Emr MRK Ex Chna 1.07% 189,260 $10.3M Add +1.2%
DUK Duke Energy Corp. 0.48% 38,467 $4.6M Reduce -3.9%
BRK.A Berkshire Hathaway Inc. Class A 0.48% 6 $4.6M New
LMT Lockheed Martin Corp. 0.44% 9,109 $4.2M Reduce -1.3%
NVR NVR Inc. 0.35% 468 $3.3M Add +9.3%
AAPL Apple Inc. 0.29% 14,541 $2.8M Reduce -0.2%
MSFT Microsoft Corp. 0.28% 7,600 $2.7M No change
PEP Pepsico Inc. 0.27% 18,299 $2.6M Add +7.4%
BTI British American Tob-SP ADR 0.26% 57,500 $2.4M Reduce -10.1%
AWK American Water Works Co. Inc. 0.25% 16,528 $2.4M Add +11.4%
BMY Bristol-Myers Squibb Co. 0.24% 47,342 $2.3M Add +6.3%
JPM JPMorgan Chase & Co. 0.24% 10,089 $2.3M Reduce -34.0%
BF.B Brown-Forman Corp. Class B 0.24% 66,890 $2.3M Add +127.2%
WBA Walgreens Boots Alliance Inc. 0.23% 203,451 $2.2M Add +167.4%
VTR Ventas Inc. 0.23% 32,527 $2.2M Reduce -28.0%
CLX Clorox Company 0.21% 14,232 $2.0M Add +19.5%
AXP American Express Co. 0.20% 7,895 $1.9M Reduce -38.0%
HAL Halliburton Co. 0.19% 84,945 $1.9M Add +47.7%
GOOG Alphabet Inc. Class C 0.18% 11,256 $1.7M No change
LYB Lyondellbasell Indu Class A 0.17% 29,019 $1.6M Add +28.1%
UNH Unitedhealth Group Inc. 0.17% 3,720 $1.6M No change
JNJ Johnson & Johnson 0.16% 9,715 $1.5M Reduce -2.7%
MCD McDonald's Corp. 0.12% 3,583 $1.1M No change
GOOGL Alphabet Inc. Class A 0.11% 7,400 $1.1M No change
KO The Coca-Cola Co. 0.10% 13,605 $990K No change
PG The Procter & Gamble Co. 0.10% 5,885 $976K No change
VFC VF Corp. 0.10% 88,299 $924K Reduce -18.9%
BALL Ball Corp. 0.09% 19,233 $910K Reduce -2.7%
XOM Exxon Mobil Corp. 0.08% 7,328 $772K Add +3.0%
ATR Aptargroup Inc. 0.08% 5,400 $770K No change
AON Aon PLC Class A 0.07% 1,974 $703K No change
AMZN Amazon.com Inc. 0.07% 4,094 $685K Reduce -4.2%
HUBB Hubbell Inc. 0.07% 1,973 $649K No change
NVDA Nvidia Corp. 0.07% 6,689 $648K Reduce -12.5%
MA Mastercard Inc. Class A 0.06% 1,144 $583K No change
CMCSA Comcast Corp. Class A 0.06% 17,301 $581K No change
MRK Merck & Co. Inc. 0.06% 7,315 $569K Reduce -6.6%
PPG PPG Industries Inc. 0.06% 5,322 $529K No change
HD Home Depot Inc. 0.05% 1,348 $468K No change
COST Costco Wholesale Corp. 0.05% 470 $450K Add +1.5%
XEL Xcel Energy Inc. 0.04% 6,148 $424K No change
ETN Eaton Corp. PLC 0.04% 1,466 $380K No change
UNP Union Pacific Corp. 0.04% 1,616 $349K Reduce -10.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 8,778 $324K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 6,152 $320K No change
HSY The Hershey Co. 0.03% 1,900 $316K No change
WMB Williams Cos Inc. 0.03% 5,556 $314K No change
VGT Vanguard Info Tech ETF 0.03% 603 $297K No change
EMR Emerson Electric Co. 0.03% 3,050 $294K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.03% 1,885 $280K No change
PNC PNC Financial Services Group 0.03% 1,800 $270K No change
GE General Electric filed as GE AEROSPACE 0.03% 1,500 $268K Reduce -4.2%
LRCX Lam Research Corp. 0.03% 3,919 $245K No change
CARR Carrier Global Corp. 0.02% 4,004 $233K No change
KMB Kimberly-Clark Corp. 0.02% 1,605 $225K No change
BA The Boeing Co. 0.02% 1,377 $219K New
PFE Pfizer Inc. 0.02% 9,872 $218K Reduce -3.3%
QQQ Invesco QQQ Trust Series 1 0.02% 484 $209K Add +3.4%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.02% 2,225 $205K No change
F Ford Motor Co. filed as FORD MTR CO 0.02% 15,251 $144K New
FSCO FS Credit Opportunities Corp. 0.01% 14,999 $99K No change
RIG Transocean Ltd. 0.00% 10,000 $21K New

Portfolio Sells Q4 2024 → Q1 2025
IJR iShares Core S&P Small-Cap E Sold out 0.00% −1.17
MHK Mohawk Industries Inc. Reduce -0.6% 2.73% −0.79
WMT Walmart Inc. Reduce -30.9% 1.54% −0.66
SNA Snap-on Inc. Reduce -9.1% 1.61% −0.50
RTX RTX Corp. Reduce -19.6% 1.87% −0.41
DIS The Walt Disney Co. Reduce -3.9% 1.26% −0.41
BKNG Booking Holdings Inc. Reduce -16.2% 1.49% −0.36
GWW WW Grainger Inc. Reduce -7.1% 1.60% −0.34
AER Aercap Holdings NV Reduce -15.1% 1.56% −0.26
TJX TJX Companies Inc. Reduce -13.9% 1.66% −0.22
AXP American Express Co. Reduce -38.0% 0.20% −0.21
VFC VF Corp. Reduce -18.9% 0.10% −0.18
JPM JPMorgan Chase & Co. Reduce -34.0% 0.24% −0.17
WM Waste Management Inc. Reduce -13.9% 1.84% −0.12
AIG American International Group Reduce -10.1% 3.53% −0.12
VTR Ventas Inc. Reduce -28.0% 0.23% −0.05
LMT Lockheed Martin Corp. Reduce -1.3% 0.44% −0.04
NVDA Nvidia Corp. Reduce -12.5% 0.07% −0.04
AAPL Apple Inc. Reduce -0.2% 0.29% −0.04
VTI VG Morningstar TS MKT ETF-US Sold out 0.00% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -10.8% 2.00% −0.04
AMZN Amazon.com Inc. Reduce -4.2% 0.07% −0.03
LOW Lowe's Cos Inc. Sold out 0.00% −0.03
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −0.02
CRM Salesforce Inc. Sold out 0.00% −0.02
IXC iShares Global Energy ETF Sold out 0.00% −0.02
ENTG Entegris Inc. Sold out 0.00% −0.02
MRK Merck & Co. Inc. Reduce -6.6% 0.06% −0.02
BALL Ball Corp. Reduce -2.7% 0.09% −0.02
UNP Union Pacific Corp. Reduce -10.6% 0.04% −0.01
PFE Pfizer Inc. Reduce -3.3% 0.02% −0.01
GE General Electric Reduce -4.2% 0.03% −0.00
WRB WR Berkley Corp. Reduce -13.5% 1.76% +0.00
JNJ Johnson & Johnson Reduce -2.7% 0.16% +0.01
BTI British American Tob-SP ADR Reduce -10.1% 0.26% +0.01
DUK Duke Energy Corp. Reduce -3.9% 0.48% +0.03
CME Cme Group Inc. Reduce -7.9% 1.93% +0.09
AZO AutoZone Inc. Reduce -2.5% 1.67% +0.12
IAU iShares Gold Trust Reduce -0.8% 1.48% +0.31
GLD SPDR Gold Shares Reduce -14.3% 4.10% +0.33

Portfolio Buys Q4 2024 → Q1 2025
EFV iShares MSCI Eafe Value ETF Add +36.5% 3.92% +1.30
SHV iShares 0-1 Year Treasury Bo Add +13.4% 6.70% +0.90
NTR Nutrien Ltd. Add +16.3% 3.71% +0.65
NOMD Nomad Foods Ltd. Add +1.8% 3.31% +0.57
BRK.A Berkshire Hathaway Inc. Class A New 0.48% +0.48
ISTB iShares Core 1-5 Year Usd Bo Add +6.6% 5.49% +0.46
TLT iShares 20+ Year Treasury BD Add +13.1% 4.04% +0.45
DEO Diageo PLC-Sponsored ADR Add +41.4% 1.60% +0.39
JIII JNS Hndrsn Incm ETF Add +9.8% 4.17% +0.38
BHP BHP Group Ltd.-Spon ADR Add +33.2% 1.76% +0.37
TTE Totalenergies SE -Spon ADR Add +21.2% 2.00% +0.35
EW Edwards Lifesciences Corp. Add +18.8% 1.55% +0.25
PFF iShares Preferred & Income S Add +14.1% 2.86% +0.16
WBA Walgreens Boots Alliance Inc. Add +167.4% 0.23% +0.14
BF.B Brown-Forman Corp. Class B Add +127.2% 0.24% +0.14
AWK American Water Works Co. Inc. Add +11.4% 0.25% +0.06
GNK Genco Shipping & Trading Ltd. Add +17.7% 1.61% +0.05
CROX Crocs Inc. Add +16.1% 1.45% +0.03
BA The Boeing Co. New 0.02% +0.02
HAL Halliburton Co. Add +47.7% 0.19% +0.02
F Ford Motor Co. New 0.02% +0.02
PEP Pepsico Inc. Add +7.4% 0.27% +0.01
CLX Clorox Company Add +19.5% 0.21% +0.01
RIG Transocean Ltd. New 0.00% +0.00
COST Costco Wholesale Corp. Add +1.5% 0.05% +0.00
XOM Exxon Mobil Corp. Add +3.0% 0.08% −0.00
QQQ Invesco QQQ Trust Series 1 Add +3.4% 0.02% −0.00
LYB Lyondellbasell Indu Class A Add +28.1% 0.17% −0.01
DHI D.R. Horton Inc. Add +15.7% 1.29% −0.01
EMXC iShares MSCI Emr MRK Ex Chna Add +1.2% 1.07% −0.02
NVR NVR Inc. Add +9.3% 0.35% −0.02
BMY Bristol-Myers Squibb Co. Add +6.3% 0.24% −0.02
HDV iShares Core High Dividend E Add +0.7% 4.34% −0.04
ACN Accenture PLC Class A Add +13.5% 1.30% −0.14
MYRG MYR Group Inc./Delaware Add +20.4% 1.46% −0.22
IUSV iShares Core S&P U.S. Value Add +0.9% 3.95% −0.39
GNRC Generac Holdings Inc. Add +0.9% 1.23% −0.61

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