Townsend & Associates, Inc

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 21, 2025), Townsend & Associates, Inc reported 112 stock positions worth $1.1 billion. Its top holding was iShares 0-1 Year Treasury Bo (SHV) at 6.4% of the portfolio, followed by iShares Core 1-5 Year Usd Bo (ISTB, 5.3%) and iShares 20+ Year Treasury BD (TLT, 4.3%). Compared with Q2 2025, it opened 6 new positions, sold out of 6, added to 54 and reduced 19. The biggest buy was a new position in TCW Durable Growth ETF (GRW) and the biggest sale an exit from Accenture Class A (ACN).

Most Recent 13F
Q2 2026
Location
WESTMINSTER, CO
CIK
0001729359
Portfolio Value
$1.1B (Q3 2025)
SEC Filing
0001729359-25-000007 ↗ filed Oct 21, 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 Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 112 stocks · $1.1B
SHV iShares 0-1 Year Treasury Bo 6.43% 614,671 $67.8M Add +3.8%
ISTB iShares Core 1-5 Year Usd Bo 5.33% 1,149,069 $56.2M Add +3.5%
TLT iShares 20+ Year Treasury BD 4.34% 501,882 $45.8M Add +4.2%
JIII JNS Hndrsn Incm ETF 4.24% 875,746 $44.7M Add +3.2%
GLD SPDR Gold Shares 3.88% 105,197 $40.9M Add +3.0%
HDV iShares Core High Dividend E 3.50% 302,295 $36.9M Reduce -15.0%
IUSV iShares Core S&P U.S. Value 3.42% 361,964 $36.1M Reduce -18.4%
EFV iShares MSCI Eafe Value ETF 3.31% 511,855 $34.9M Reduce -10.3%
NTR Nutrien Ltd. 3.29% 604,302 $34.7M Add +2.9%
BHP BHP Group Ltd.-Spon ADR 3.26% 617,773 $34.3M Add +2.9%
PFF iShares Preferred & Income S 3.09% 1,037,219 $32.6M Add +2.7%
AIG American International Group 2.89% 394,408 $30.5M Add +3.4%
BRK.B Berkshire Hathaway Inc. Class B 2.82% 60,293 $29.7M Add +4.2%
MYRG MYR Group Inc./Delaware 2.27% 114,802 $23.9M Add +1.7%
GNRC Generac Holdings Inc. 2.18% 120,801 $23.0M Add +1.6%
RTX RTX Corp. 2.05% 136,600 $21.6M Add +1.9%
GNK Genco Shipping & Trading Ltd. 1.95% 1,267,823 $20.6M Add +1.8%
TTE Totalenergies SE -Spon ADR 1.82% 312,266 $19.2M Add +2.6%
SNA Snap-on Inc. 1.69% 52,586 $17.9M Add +2.5%
HCA HCA Healthcare Inc. 1.69% 41,755 $17.8M Add +2.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.67% 159,494 $17.7M Add +2.4%
AER Aercap Holdings NV 1.63% 142,731 $17.2M Add +2.7%
MHK Mohawk Industries Inc. 1.61% 133,244 $17.0M Add +2.3%
CME Cme Group Inc. 1.57% 61,804 $16.6M Add +3.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.56% 114,399 $16.5M Add +2.9%
MCK McKesson Corp. 1.54% 20,595 $16.2M Add +3.4%
WMT Walmart Inc. 1.53% 149,636 $16.1M Add +3.3%
WM Waste Management Inc. 1.48% 72,548 $15.6M Add +4.1%
GRW TCW Durable Growth ETF 1.42% 472,723 $15.0M New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.42% 202,031 $15.0M Add +3.1%
DEO Diageo PLC-Sponsored ADR 1.38% 148,566 $14.5M Add +3.8%
DHI D.R. Horton Inc. 1.36% 93,426 $14.4M Add +0.2%
AZO AutoZone Inc. 1.35% 3,536 $14.3M Add +3.2%
EW Edwards Lifesciences Corp. 1.35% 190,334 $14.2M Add +3.3%
KR Kroger Co. 1.32% 201,147 $13.9M Add +3.9%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.29% 14,190 $13.6M Add +3.6%
BKNG Booking Holdings Inc. 1.27% 2,646 $13.4M Add +2.9%
IAU iShares Gold Trust 1.23% 162,693 $13.0M Add +0.4%
UPS United Parcel Service Class B 1.22% 148,265 $12.8M New
EMXC iShares MSCI Emr MRK Ex Chna 1.14% 170,412 $12.0M Reduce -5.8%
NOMD Nomad Foods Ltd. 0.89% 764,872 $9.3M Add +6.0%
BRK.A Berkshire Hathaway Inc. Class A 0.42% 6 $4.4M No change
LMT Lockheed Martin Corp. 0.40% 8,518 $4.2M Reduce -6.5%
DUK Duke Energy Corp. 0.40% 32,781 $4.2M Add +0.1%
MSFT Microsoft Corp. 0.36% 7,326 $3.8M Reduce -3.6%
NVR NVR Inc. 0.32% 440 $3.4M Add +10.6%
AAPL Apple Inc. 0.31% 12,938 $3.3M Reduce -9.0%
PEP Pepsico Inc. 0.26% 17,666 $2.7M Add +0.1%
GOOG Alphabet Inc. Class C 0.25% 10,519 $2.7M Reduce -7.9%
ABBV Abbvie Inc. 0.25% 11,613 $2.7M Reduce -0.7%
BTI British American Tob-SP ADR 0.22% 45,247 $2.3M Reduce -0.2%
HAL Halliburton Co. 0.21% 98,633 $2.2M Add +0.2%
BMY Bristol-Myers Squibb Co. 0.20% 48,172 $2.1M Add +0.1%
VTR Ventas Inc. 0.19% 28,541 $2.0M Add +0.1%
FANG Diamondback Energy Inc. 0.19% 14,255 $2.0M Add +0.0%
UL Unilever PLC 0.18% 30,155 $1.9M Add +0.6%
JNJ Johnson & Johnson 0.17% 9,402 $1.8M Reduce -3.2%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.17% 16,658 $1.8M Add +0.1%
CLX Clorox Company 0.16% 13,886 $1.7M Add +0.5%
GOOGL Alphabet Inc. Class A 0.16% 6,500 $1.6M Reduce -12.2%
LYB Lyondellbasell Indu Class A 0.15% 33,967 $1.6M Add +1.4%
MCD McDonald's Corp. 0.13% 4,455 $1.4M No change
UNH Unitedhealth Group Inc. 0.12% 3,658 $1.3M Reduce -0.6%
NVDA Nvidia Corp. 0.12% 7,014 $1.3M Add +4.9%
KO The Coca-Cola Co. 0.09% 13,605 $931K No change
BALL Ball Corp. 0.09% 19,048 $921K Reduce -1.0%
XOM Exxon Mobil Corp. 0.08% 7,804 $876K Add +6.5%
HUBB Hubbell Inc. 0.08% 1,973 $840K No change
AMZN Amazon.com Inc. 0.08% 3,840 $818K Reduce -6.2%
PG The Procter & Gamble Co. 0.08% 5,362 $812K Reduce -8.3%
ATR Aptargroup Inc. 0.07% 5,400 $698K No change
XEL Xcel Energy Inc. 0.07% 8,486 $689K No change
AON Aon PLC Class A 0.06% 1,855 $643K No change
MA Mastercard Inc. Class A 0.06% 1,144 $642K No change
HD Home Depot Inc. 0.06% 1,607 $630K Add +19.2%
MRK Merck & Co. Inc. 0.06% 7,314 $620K No change
LRCX Lam Research Corp. 0.05% 3,919 $555K No change
ETN Eaton Corp. PLC 0.05% 1,466 $547K No change
PPG PPG Industries Inc. 0.05% 5,322 $541K No change
CMCSA Comcast Corp. Class A 0.05% 17,300 $511K No change
GE General Electric filed as GE AEROSPACE 0.05% 1,687 $506K No change
UNP Union Pacific Corp. 0.05% 2,240 $506K Add +44.9%
JPM JPMorgan Chase & Co. 0.05% 1,643 $489K No change
VGT Vanguard Info Tech ETF 0.04% 603 $454K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 8,778 $450K No change
EMR Emerson Electric Co. 0.04% 3,050 $394K No change
BA The Boeing Co. 0.04% 1,831 $390K Add +33.0%
CAT Caterpillar Inc. 0.04% 700 $369K New
HSY The Hershey Co. 0.03% 1,900 $357K No change
WMB Williams Cos Inc. 0.03% 5,556 $347K No change
CMI Cummins Inc. 0.03% 820 $338K New
ITW Illinois Tool Works 0.03% 1,329 $331K New
COST Costco Wholesale Corp. 0.03% 351 $329K Reduce -25.3%
PNC PNC Financial Services Group 0.03% 1,829 $328K Add +1.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.03% 1,885 $324K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 5,552 $295K No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.03% 2,225 $278K No change
INTC Intel Corp. 0.03% 7,400 $274K New
QQQ Invesco QQQ Trust Series 1 0.03% 452 $273K Reduce -6.6%
GEV GE Vernova Inc. 0.02% 421 $253K No change

Show all 112 holdings

Portfolio Sells Q2 2025 → Q3 2025
ACN Accenture PLC Class A Sold out 0.00% −1.32
IUSV iShares Core S&P U.S. Value Reduce -18.4% 3.42% −0.85
HDV iShares Core High Dividend E Reduce -15.0% 3.50% −0.72
EFV iShares MSCI Eafe Value ETF Reduce -10.3% 3.31% −0.39
MSFT Microsoft Corp. Reduce -3.6% 0.36% −0.03
BALL Ball Corp. Reduce -1.0% 0.09% −0.03
CCI Crown Castle Inc. Sold out 0.00% −0.02
KMB Kimberly-Clark Corp. Sold out 0.00% −0.02
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.02
T AT&T Inc. Sold out 0.00% −0.02
HON Honeywell International Inc. Sold out 0.00% −0.02
AMZN Amazon.com Inc. Reduce -6.2% 0.08% −0.02
PG The Procter & Gamble Co. Reduce -8.3% 0.08% −0.01
BTI British American Tob-SP ADR Reduce -0.2% 0.22% −0.01
COST Costco Wholesale Corp. Reduce -25.3% 0.03% −0.01
EMXC iShares MSCI Emr MRK Ex Chna Reduce -5.8% 1.14% −0.01
PFE Pfizer Inc. Reduce -1.0% 0.02% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -6.6% 0.03% −0.00
AAPL Apple Inc. Reduce -9.0% 0.31% +0.01
JNJ Johnson & Johnson Reduce -3.2% 0.17% +0.01
GOOGL Alphabet Inc. Class A Reduce -12.2% 0.16% +0.01
LMT Lockheed Martin Corp. Reduce -6.5% 0.40% +0.02
UNH Unitedhealth Group Inc. Reduce -0.6% 0.12% +0.02
ABBV Abbvie Inc. Reduce -0.7% 0.25% +0.03
GOOG Alphabet Inc. Class C Reduce -7.9% 0.25% +0.03

Portfolio Buys Q2 2025 → Q3 2025
GRW TCW Durable Growth ETF New 1.42% +1.42
UPS United Parcel Service Class B New 1.22% +1.22
GLD SPDR Gold Shares Add +3.0% 3.88% +0.77
HCA HCA Healthcare Inc. Add +2.8% 1.69% +0.34
GNRC Generac Holdings Inc. Add +1.6% 2.18% +0.33
IAU iShares Gold Trust Add +0.4% 1.23% +0.22
TLT iShares 20+ Year Treasury BD Add +4.2% 4.34% +0.21
TJX TJX Companies Inc. Add +2.9% 1.56% +0.17
MCK McKesson Corp. Add +3.4% 1.54% +0.13
WMT Walmart Inc. Add +3.3% 1.53% +0.13
BHP BHP Group Ltd.-Spon ADR Add +2.9% 3.26% +0.09
AER Aercap Holdings NV Add +2.7% 1.63% +0.08
WRB WR Berkley Corp. Add +3.1% 1.42% +0.08
AZO AutoZone Inc. Add +3.2% 1.35% +0.05
MHK Mohawk Industries Inc. Add +2.3% 1.61% +0.05
BRK.B Berkshire Hathaway Inc. Class B Add +4.2% 2.82% +0.04
CAT Caterpillar Inc. New 0.04% +0.04
CMI Cummins Inc. New 0.03% +0.03
ITW Illinois Tool Works New 0.03% +0.03
INTC Intel Corp. New 0.03% +0.03
MYRG MYR Group Inc./Delaware Add +1.7% 2.27% +0.02
DHI D.R. Horton Inc. Add +0.2% 1.36% +0.02
SNA Snap-on Inc. Add +2.5% 1.69% +0.02
UNP Union Pacific Corp. Add +44.9% 0.05% +0.01
NVR NVR Inc. Add +10.6% 0.32% +0.01
DUK Duke Energy Corp. Add +0.1% 0.40% +0.01
HD Home Depot Inc. Add +19.2% 0.06% +0.01
NVDA Nvidia Corp. Add +4.9% 0.12% +0.01
PEP Pepsico Inc. Add +0.1% 0.26% +0.01
BA The Boeing Co. Add +33.0% 0.04% +0.01
VTR Ventas Inc. Add +0.1% 0.19% +0.00
XOM Exxon Mobil Corp. Add +6.5% 0.08% +0.00
F Ford Motor Co. Add +6.0% 0.02% +0.00
UL Unilever PLC Add +0.6% 0.18% +0.00
V Visa Inc. Class A Add +0.2% 0.02% −0.00
PNC PNC Financial Services Group Add +1.6% 0.03% −0.00
TTE Totalenergies SE -Spon ADR Add +2.6% 1.82% −0.01
ISTB iShares Core 1-5 Year Usd Bo Add +3.5% 5.33% −0.01
HAL Halliburton Co. Add +0.2% 0.21% −0.01
SJM The JM Smucker Co. Add +0.1% 0.17% −0.01
FANG Diamondback Energy Inc. Add +0.0% 0.19% −0.02
CLX Clorox Company Add +0.5% 0.16% −0.02
JIII JNS Hndrsn Incm ETF Add +3.2% 4.24% −0.03
PFF iShares Preferred & Income S Add +2.7% 3.09% −0.03
BMY Bristol-Myers Squibb Co. Add +0.1% 0.20% −0.03
RTX RTX Corp. Add +1.9% 2.05% −0.04
GNK Genco Shipping & Trading Ltd. Add +1.8% 1.95% −0.05
SHV iShares 0-1 Year Treasury Bo Add +3.8% 6.43% −0.05
KR Kroger Co. Add +3.9% 1.32% −0.05
LYB Lyondellbasell Indu Class A Add +1.4% 0.15% −0.06

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