Townsend & Associates, Inc

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Townsend & Associates, Inc reported 115 stock positions worth $1.1 billion. Its top holding was iShares 0-1 Year Treasury Bo (SHV) at 6.1% of the portfolio, followed by iShares Core 1-5 Year Usd Bo (ISTB, 5.1%) and SPDR Gold Shares (GLD, 4.0%). Compared with Q3 2025, it opened 6 new positions, sold out of 3, added to 57 and reduced 22. The biggest buy was a new position in C&S Pref & Income Active ETF (CSPF) and the biggest sale an exit from iShares Preferred & Income S (PFF).

Most Recent 13F
Q2 2026
Location
WESTMINSTER, CO
CIK
0001729359
Portfolio Value
$1.1B (Q4 2025)
SEC Filing
0001729359-26-000002 ↗ filed Jan 26, 2026

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 Q3 2025 Q4 2025: $1.1B $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 115 stocks · $1.1B
SHV iShares 0-1 Year Treasury Bo 6.14% 624,339 $68.9M Add +1.6%
ISTB iShares Core 1-5 Year Usd Bo 5.07% 1,166,721 $56.9M Add +1.5%
GLD SPDR Gold Shares 4.03% 106,639 $45.1M Add +1.4%
JIII JNS Hndrsn Incm ETF 4.02% 889,725 $45.1M Add +1.6%
TLT iShares 20+ Year Treasury BD 4.01% 509,184 $45.0M Add +1.4%
NTR Nutrien Ltd. 3.71% 612,842 $41.6M Add +1.4%
BHP BHP Group Ltd.-Spon ADR 3.69% 626,081 $41.3M Add +1.3%
HDV iShares Core High Dividend E 3.45% 304,637 $38.7M Add +0.8%
IUSV iShares Core S&P U.S. Value 3.42% 363,295 $38.3M Add +0.4%
EFV iShares MSCI Eafe Value ETF 3.36% 513,048 $37.6M Add +0.2%
CSPF C&S Pref & Income Active ETF 2.90% 1,241,627 $32.5M New
BRK.B Berkshire Hathaway Inc. Class B 2.70% 61,490 $30.3M Add +2.0%
AIG American International Group 2.65% 401,885 $29.8M Add +1.9%
MYRG MYR Group Inc./Delaware 2.51% 115,265 $28.1M Add +0.4%
RTX RTX Corp. 2.45% 137,121 $27.4M Add +0.4%
GNK Genco Shipping & Trading Ltd. 2.26% 1,276,311 $25.4M Add +0.7%
AER Aercap Holdings NV 1.85% 144,427 $20.7M Add +1.2%
TTE Totalenergies SE 1.84% 314,733 $20.7M Add +0.8%
HCA HCA Healthcare Inc. 1.82% 42,238 $20.4M Add +1.2%
GNRC Generac Holdings Inc. 1.77% 122,572 $19.8M Add +1.5%
SNA Snap-on Inc. 1.73% 53,321 $19.4M Add +1.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.64% 162,304 $18.4M Add +1.8%
WMT Walmart Inc. 1.62% 152,744 $18.2M Add +2.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.62% 116,301 $18.2M Add +1.7%
MCK McKesson Corp. 1.58% 20,941 $17.7M Add +1.7%
CME Cme Group Inc. 1.53% 62,814 $17.1M Add +1.6%
MHK Mohawk Industries Inc. 1.50% 136,255 $16.9M Add +2.3%
UPS United Parcel Service Class B 1.47% 151,488 $16.5M Add +2.2%
EW Edwards Lifesciences Corp. 1.46% 193,657 $16.4M Add +1.8%
WM Waste Management Inc. 1.45% 73,920 $16.3M Add +1.9%
GWW WW Grainger Inc. 1.38% 14,537 $15.5M Add +2.5%
DHI D.R. Horton Inc. 1.34% 93,599 $15.1M Add +0.2%
GRW TCW Durable Growth ETF 1.34% 477,963 $15.0M Add +1.1%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.27% 206,808 $14.2M Add +2.4%
BKNG Booking Holdings Inc. 1.25% 2,707 $14.1M Add +2.3%
IAU iShares Gold Trust 1.25% 161,898 $14.0M Reduce -0.5%
DEO Diageo PLC-Sponsored ADR 1.22% 153,315 $13.7M Add +3.2%
EMXC iShares MSCI Emr MRK Ex Chna 1.17% 170,075 $13.1M Reduce -0.2%
KR Kroger Co. 1.15% 207,014 $12.9M Add +2.9%
AZO AutoZone Inc. 1.12% 3,631 $12.6M Add +2.7%
NOMD Nomad Foods Ltd. 0.86% 806,459 $9.6M Add +5.4%
LMT Lockheed Martin Corp. 0.44% 8,513 $4.9M Reduce -0.1%
BRK.A Berkshire Hathaway Inc. Class A 0.40% 6 $4.4M No change
DUK Duke Energy Corp. 0.34% 32,039 $3.8M Reduce -2.3%
NVR NVR Inc. 0.32% 472 $3.6M Add +7.3%
GOOG Alphabet Inc. Class C 0.31% 10,467 $3.5M Reduce -0.5%
MSFT Microsoft Corp. 0.30% 7,433 $3.4M Add +1.5%
AAPL Apple Inc. 0.30% 12,834 $3.3M Reduce -0.8%
HAL Halliburton Co. 0.28% 94,886 $3.1M Reduce -3.8%
BMY Bristol-Myers Squibb Co. 0.24% 46,767 $2.6M Reduce -2.9%
PEP Pepsico Inc. 0.23% 17,327 $2.5M Reduce -1.9%
BTI British American Tob-SP ADR 0.23% 43,431 $2.5M Reduce -4.0%
ABBV Abbvie Inc. 0.22% 11,167 $2.4M Reduce -3.8%
GOOGL Alphabet Inc. Class A 0.19% 6,500 $2.2M No change
FANG Diamondback Energy Inc. 0.19% 14,330 $2.2M Add +0.5%
VTR Ventas Inc. 0.19% 27,418 $2.1M Reduce -3.9%
JNJ Johnson & Johnson 0.19% 9,506 $2.1M Add +1.1%
LYB Lyondellbasell Indu Class A 0.16% 35,170 $1.8M Add +3.5%
UL Unilever PLC-Sponsored ADR 0.15% 27,009 $1.7M Add +0.8%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.15% 16,517 $1.7M Reduce -0.8%
CLX Clorox Company 0.14% 14,164 $1.6M Add +2.0%
MCD McDonald's Corp. 0.12% 4,441 $1.4M Reduce -0.3%
NVDA Nvidia Corp. 0.12% 7,259 $1.4M Add +3.5%
UNH Unitedhealth Group Inc. 0.11% 3,658 $1.2M No change
BALL Ball Corp. 0.10% 19,048 $1.1M No change
XOM Exxon Mobil Corp. 0.09% 7,889 $1.0M Add +1.1%
KO The Coca-Cola Co. 0.09% 13,680 $964K Add +0.6%
HUBB Hubbell Inc. 0.09% 1,973 $955K No change
AMZN Amazon.com Inc. 0.08% 3,567 $850K Reduce -7.1%
MRK Merck & Co. Inc. 0.07% 7,314 $812K No change
PG The Procter & Gamble Co. 0.07% 5,532 $800K Add +3.2%
LRCX Lam Research Corp. 0.07% 3,464 $753K Reduce -11.6%
ATR Aptargroup Inc. 0.06% 5,400 $676K No change
AON Aon PLC Class A 0.06% 1,855 $640K No change
XEL Xcel Energy Inc. 0.06% 8,486 $640K No change
MA Mastercard Inc. Class A 0.06% 1,144 $621K No change
HD Home Depot Inc. 0.05% 1,549 $587K Reduce -3.6%
PPG PPG Industries Inc. 0.05% 5,322 $586K No change
GE General Electric filed as GE AEROSPACE 0.05% 1,687 $540K No change
JPM JPMorgan Chase & Co. 0.05% 1,661 $514K Add +1.1%
CAT Caterpillar Inc. 0.04% 765 $495K Add +9.3%
CMCSA Comcast Corp. Class A 0.04% 17,300 $490K No change
ETN Eaton Corp. PLC 0.04% 1,466 $489K No change
UNP Union Pacific Corp. 0.04% 2,116 $488K Reduce -5.5%
CMI Cummins Inc. 0.04% 820 $471K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 8,778 $462K No change
VGT Vanguard Info Tech ETF 0.04% 603 $458K No change
EMR Emerson Electric Co. 0.04% 3,050 $451K No change
PNC PNC Financial Services Group 0.04% 1,829 $393K No change
HSY The Hershey Co. 0.03% 1,900 $382K No change
INTC Intel Corp. 0.03% 7,400 $358K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.03% 1,885 $350K No change
ITW Illinois Tool Works 0.03% 1,333 $349K Add +0.3%
WMB Williams Cos Inc. 0.03% 5,556 $335K No change
COST Costco Wholesale Corp. 0.03% 314 $300K Reduce -10.5%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.03% 2,225 $300K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 5,458 $289K Reduce -1.7%
QQQ Invesco QQQ Trust Series 1 0.03% 452 $281K No change
USB US Bancorp 0.02% 5,082 $274K Add +1.0%
GEV GE Vernova Inc. 0.02% 421 $270K No change

Show all 115 holdings

Portfolio Sells Q3 2025 → Q4 2025
PFF iShares Preferred & Income S Sold out 0.00% −3.09
DUK Duke Energy Corp. Reduce -2.3% 0.34% −0.06
BA The Boeing Co. Sold out 0.00% −0.04
ABBV Abbvie Inc. Reduce -3.8% 0.22% −0.04
PEP Pepsico Inc. Reduce -1.9% 0.23% −0.03
V Visa Inc. Class A Sold out 0.00% −0.02
AAPL Apple Inc. Reduce -0.8% 0.30% −0.01
SJM The JM Smucker Co. Reduce -0.8% 0.15% −0.01
MCD McDonald's Corp. Reduce -0.3% 0.12% −0.01
HD Home Depot Inc. Reduce -3.6% 0.05% −0.01
UNP Union Pacific Corp. Reduce -5.5% 0.04% −0.00
COST Costco Wholesale Corp. Reduce -10.5% 0.03% −0.00
VTR Ventas Inc. Reduce -3.9% 0.19% −0.00
IGSB iShares 1-5Y Inv Grade Corp. Reduce -1.7% 0.03% −0.00
AMZN Amazon.com Inc. Reduce -7.1% 0.08% −0.00
IDV iShares International Select Reduce -10.1% 0.02% −0.00
RSP Invesco S&P 500 Equal Weight Reduce -3.5% 0.02% −0.00
BTI British American Tob-SP ADR Reduce -4.0% 0.23% +0.00
LRCX Lam Research Corp. Reduce -11.6% 0.07% +0.01
IAU iShares Gold Trust Reduce -0.5% 1.25% +0.02
EMXC iShares MSCI Emr MRK Ex Chna Reduce -0.2% 1.17% +0.04
BMY Bristol-Myers Squibb Co. Reduce -2.9% 0.24% +0.04
LMT Lockheed Martin Corp. Reduce -0.1% 0.44% +0.04
GOOG Alphabet Inc. Class C Reduce -0.5% 0.31% +0.06
HAL Halliburton Co. Reduce -3.8% 0.28% +0.07

Portfolio Buys Q3 2025 → Q4 2025
CSPF C&S Pref & Income Active ETF New 2.90% +2.90
BHP BHP Group Ltd.-Spon ADR Add +1.3% 3.69% +0.43
NTR Nutrien Ltd. Add +1.4% 3.71% +0.42
RTX RTX Corp. Add +0.4% 2.45% +0.40
GNK Genco Shipping & Trading Ltd. Add +0.7% 2.26% +0.31
UPS United Parcel Service Class B Add +2.2% 1.47% +0.25
MYRG MYR Group Inc./Delaware Add +0.4% 2.51% +0.25
AER Aercap Holdings NV Add +1.2% 1.85% +0.22
GLD SPDR Gold Shares Add +1.4% 4.03% +0.15
HCA HCA Healthcare Inc. Add +1.2% 1.82% +0.14
EW Edwards Lifesciences Corp. Add +1.8% 1.46% +0.11
WMT Walmart Inc. Add +2.1% 1.62% +0.10
GWW WW Grainger Inc. Add +2.5% 1.38% +0.09
TJX TJX Companies Inc. Add +1.7% 1.62% +0.06
EFV iShares MSCI Eafe Value ETF Add +0.2% 3.36% +0.05
MCK McKesson Corp. Add +1.7% 1.58% +0.04
SNA Snap-on Inc. Add +1.4% 1.73% +0.03
FTLF Fitlife Brands Inc. New 0.02% +0.02
NE Noble Corp. PLC New 0.02% +0.02
TTE Totalenergies SE Add +0.8% 1.84% +0.02
ENTG Entegris Inc. New 0.02% +0.02
CSCO Cisco Systems Inc. New 0.02% +0.02
TSM Taiwan Semiconductor-SP ADR New 0.02% +0.02
JNJ Johnson & Johnson Add +1.1% 0.19% +0.01
LYB Lyondellbasell Indu Class A Add +3.5% 0.16% +0.01
CAT Caterpillar Inc. Add +9.3% 0.04% +0.01
XOM Exxon Mobil Corp. Add +1.1% 0.09% +0.01
FANG Diamondback Energy Inc. Add +0.5% 0.19% +0.00
RIG Transocean Ltd. Add +16.0% 0.01% +0.00
USB US Bancorp Add +1.0% 0.02% +0.00
NVR NVR Inc. Add +7.3% 0.32% +0.00
F Ford Motor Co. Add +0.7% 0.02% +0.00
PFE Pfizer Inc. Add +2.3% 0.02% +0.00
NFLX Netflix Inc. Add +46.2% 0.02% +0.00
ITW Illinois Tool Works Add +0.3% 0.03% −0.00
JPM JPMorgan Chase & Co. Add +1.1% 0.05% −0.00
NVDA Nvidia Corp. Add +3.5% 0.12% −0.00
IUSV iShares Core S&P U.S. Value Add +0.4% 3.42% −0.00
KO The Coca-Cola Co. Add +0.6% 0.09% −0.00
PG The Procter & Gamble Co. Add +3.2% 0.07% −0.01
CLX Clorox Company Add +2.0% 0.14% −0.02
DHI D.R. Horton Inc. Add +0.2% 1.34% −0.02
BKNG Booking Holdings Inc. Add +2.3% 1.25% −0.02
UL Unilever PLC-Sponsored ADR Add +0.8% 0.15% −0.03
NOMD Nomad Foods Ltd. Add +5.4% 0.86% −0.03
DIS The Walt Disney Co. Add +1.8% 1.64% −0.03
WM Waste Management Inc. Add +1.9% 1.45% −0.03
CME Cme Group Inc. Add +1.6% 1.53% −0.04
HDV iShares Core High Dividend E Add +0.8% 3.45% −0.05
MSFT Microsoft Corp. Add +1.5% 0.30% −0.05

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