Van Hulzen Asset Management, LLC

Name: Van Hulzen Asset Management, LLC 13F holdings, Q1 2025
Creator: Van Hulzen Asset Management, LLC
Published: 2025-05-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Van Hulzen Asset Management, LLC reported 311 stock positions worth $1.1 billion. Its top holding was Apple (AAPL) at 7.2% of the portfolio, followed by Microsoft (MSFT, 3.7%) and Cisco Systems (CSCO, 2.9%). Compared with Q4 2024, it opened 8 new positions, sold out of 850, added to 105 and reduced 165. The biggest buy was Becton Dickinson and (BDX, shares +17014%) and the biggest sale Abbvie (ABBV, shares −75%).

Most Recent 13F: Q2 2026
Location: EL DORADO HILLS, CA
CIK: 0001600145
Portfolio Value: $1.1B (Q1 2025)
SEC Filing: 0001765380-25-000232 ↗ filed May 14, 2025

Holdings Value

Holdings 311 stocks · $1.1B


AAPL Apple Inc.	7.16%	353,028	$78.4M	Reduce -14.3%
MSFT Microsoft Corp.	3.68%	107,336	$40.3M	Reduce -23.8%
CSCO Cisco Systems Inc.	2.88%	511,193	$31.5M	Add +17.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	2.59%	113,886	$28.3M	Reduce -35.2%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	2.49%	79,117	$27.3M	Reduce -19.3%
GOOGL Alphabet Inc. Class A	2.31%	163,493	$25.3M	Reduce -29.2%
MCD McDonald's Corp.	2.21%	77,463	$24.2M	Reduce -25.1%
TSLA Tesla Inc.	2.06%	87,229	$22.6M	Add +17.4%
QUAL iShares MSCI USA Quality Fac	1.99%	127,378	$21.8M	Reduce -1.8%
ADP Automatic Data Processing	1.83%	65,498	$20.0M	Reduce -15.9%
JNJ Johnson & Johnson	1.80%	118,842	$19.7M	Reduce -22.5%
FBTC Fidelity Wise Origin Bitcoin	1.72%	261,497	$18.8M	Add +0.8%
IVV iShares Core S&P 500 ETF	1.58%	30,856	$17.3M	Reduce -2.1%
META Meta Platforms Inc. Class A	1.44%	27,353	$15.8M	Add +15.7%
PG The Procter & Gamble Co.	1.42%	91,399	$15.6M	Reduce -24.0%
XOM Exxon Mobil Corp.	1.39%	128,407	$15.3M	Reduce -18.1%
BDX Becton Dickinson and Co.	1.34%	63,836	$14.6M	Add +17014.2%
IAU iShares Gold Trust	1.33%	247,315	$14.6M	Add +1.7%
AVGO Broadcom Inc.	1.33%	86,871	$14.5M	Reduce -1.3%
KO The Coca-Cola Co.	1.29%	197,650	$14.2M	Reduce -19.5%
ETN Eaton Corp. PLC	1.29%	51,910	$14.1M	Reduce -26.8%
ORCL Oracle Corp.	1.26%	98,770	$13.8M	Reduce -20.2%
SHEL Shell PLC-ADR	1.22%	181,830	$13.3M	Reduce -4.0%
DHR Danaher Corp.	1.18%	63,270	$13.0M	Reduce -17.3%
BRK.B Berkshire Hathaway Inc. Class B	1.18%	24,247	$12.9M	Add +83.0%
AMZN Amazon.com Inc.	1.16%	66,640	$12.7M	Reduce -25.4%
COST Costco Wholesale Corp.	1.07%	12,412	$11.7M	Add +3.7%
NVDA Nvidia Corp.	1.07%	108,306	$11.7M	Reduce -34.5%
JPM JPMorgan Chase & Co.	1.05%	47,059	$11.5M	Reduce -1.4%
EXC Exelon Corp.	1.05%	250,215	$11.5M	Reduce -29.2%
AGG iShares Core U.S. Aggregate	1.01%	111,723	$11.1M	Reduce -2.2%
MDLZ Mondelez International Inc. Class A	0.98%	157,709	$10.7M	Reduce -10.8%
ESGU iShares ESG Aware MSCI USA	0.97%	87,000	$10.6M	Reduce -2.6%
BINC iShares Flex I A ETF-Usd Inc.	0.95%	199,473	$10.4M	Add +30.4%
SPY SS SPDR S&P 500 ETF Trust-US	0.94%	18,465	$10.3M	Reduce -2.2%
CB Chubb Ltd.	0.89%	32,252	$9.7M	Reduce -10.3%
QCOM Qualcomm Inc.	0.86%	61,404	$9.4M	Reduce -0.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.84%	93,510	$9.2M	Reduce -25.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.84%	219,222	$9.2M	Reduce -34.8%
ABBV Abbvie Inc.	0.82%	42,778	$9.0M	Reduce -74.7%
DYNF Ishrs US E F R A ETF-Usd Inc.	0.80%	180,291	$8.8M	Add +8360.4%
GLD SPDR Gold Shares	0.80%	30,327	$8.7M	Reduce -3.5%
EFV iShares MSCI Eafe Value ETF	0.78%	145,156	$8.6M	Reduce -2.8%
USMV iShares MSCI USA Min Vol Fac	0.77%	89,716	$8.4M	Reduce -0.3%
TFLO iShares Treasury Floating Ra	0.76%	163,333	$8.3M	Add +11.8%
SHY iShares 1-3 Year Treasury Bo	0.73%	96,645	$8.0M	Add +0.1%
V Visa Inc. Class A	0.70%	21,886	$7.7M	Reduce -58.8%
BRK.A Berkshire Hathaway Inc. Class A	0.66%	9	$7.2M	Add +12.5%
EFG iShares MSCI Eafe Growth ETF	0.64%	70,349	$7.0M	Reduce -0.9%
ITW Illinois Tool Works	0.62%	27,464	$6.8M	Add +3089.8%
ROP Roper Technologies Inc.	0.58%	10,712	$6.3M	Reduce -48.6%
OEF iShares S&P 100 ETF	0.52%	21,013	$5.7M	Reduce -3.0%
NKE Nike Inc. Class B	0.51%	88,504	$5.6M	Add +7438.7%
ADBE Adobe Inc.	0.51%	14,435	$5.5M	Add +1.2%
GBTC Grayscale Bitcoin Trust ETF	0.50%	84,201	$5.5M	Reduce -1.3%
NVO Novo-Nordisk A/S-Spons ADR	0.46%	72,190	$5.0M	Reduce -0.1%
TLH iShares 10-20 Year Treasury	0.45%	47,265	$4.9M	New
NDAQ Nasdaq Inc.	0.45%	64,303	$4.9M	Reduce -25.0%
IGIB iShares 5-10Y Inv Grade Corp.	0.43%	88,646	$4.7M	Reduce -1.2%
HON Honeywell International Inc.	0.38%	19,874	$4.2M	Reduce -58.0%
EMXC iShares MSCI Emr MRK Ex Chna	0.38%	74,818	$4.1M	Reduce -3.3%
LRCX Lam Research Corp.	0.37%	56,390	$4.1M	Reduce -1.4%
CVX Chevron Corp.	0.37%	24,385	$4.1M	Reduce -6.9%
NEAR iShares SH Dba ETF Usd Inc.	0.37%	79,777	$4.1M	Add +6.9%
RTX RTX Corp.	0.36%	30,118	$4.0M	Add +0.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.36%	32,206	$3.9M	Reduce -58.3%
AMGN Amgen Inc.	0.33%	11,483	$3.6M	Reduce -2.4%
QLYS Qualys Inc.	0.32%	27,916	$3.5M	Reduce -5.7%
EMB iShares JP Morgan Usd Emergi	0.31%	37,369	$3.4M	Add +7.8%
GD General Dynamics Corp.	0.31%	12,336	$3.4M	Reduce -0.2%
NTRS Northern Trust Corp.	0.30%	33,000	$3.3M	Add +0.0%
UNH Unitedhealth Group Inc.	0.28%	5,750	$3.0M	Reduce -74.2%
MCK McKesson Corp.	0.27%	4,465	$3.0M	Reduce -0.2%
RSP Invesco S&P 500 Equal Weight	0.26%	16,502	$2.9M	Add +3.2%
FSMD Fidelity Small-Mid Multifact	0.26%	71,412	$2.8M	New
CSX CSX Corp.	0.25%	93,000	$2.7M	No change
LNG Cheniere Energy Inc.	0.25%	11,689	$2.7M	Reduce -26.0%
STLD Steel Dynamics Inc.	0.25%	21,472	$2.7M	Reduce -8.9%
WPM Wheaton Precious Metals Corp.	0.25%	34,576	$2.7M	Reduce -52.7%
AWR American States Water Co. filed as AMER STATES WTR CO	0.24%	33,935	$2.7M	Reduce -3.6%
VNOM Viper Energy Inc.	0.24%	58,529	$2.6M	Add +67.5%
ANET Arista Networks Inc.	0.24%	33,830	$2.6M	Reduce -2.8%
PRGS Progress Software Corp.	0.24%	50,768	$2.6M	Reduce -4.8%
CSW CSW Industrials Inc.	0.24%	8,884	$2.6M	Add +45.7%
LRN Stride Inc.	0.23%	19,640	$2.5M	Reduce -6.4%
EW Edwards Lifesciences Corp.	0.23%	34,000	$2.5M	Reduce -0.4%
AWK American Water Works Co. Inc.	0.22%	16,478	$2.4M	Add +15.2%
VIG Vanguard Dividend Apprec ETF	0.22%	12,304	$2.4M	Reduce -18.5%
BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN	0.22%	52,854	$2.4M	Reduce -1.9%
ABT Abbott Laboratories	0.21%	17,416	$2.3M	Reduce -52.5%
ICE Intercontinental Exchange Inc.	0.21%	13,267	$2.3M	Reduce -1.9%
MTUM iShares MSCI USA Momentum Fa	0.21%	11,273	$2.3M	Reduce -79.3%
HD Home Depot Inc.	0.21%	6,186	$2.3M	Reduce -44.4%
GMED Globus Medical Inc. Class A	0.21%	30,869	$2.3M	No change
AIT Applied Industrial Tech Inc.	0.21%	10,006	$2.3M	Reduce -5.7%
MBB iShares MBS ETF	0.20%	23,605	$2.2M	Reduce -21.3%
WMT Walmart Inc.	0.20%	25,046	$2.2M	Add +12.8%
ADUS Addus Homecare Corp.	0.19%	21,428	$2.1M	Reduce -3.4%
IPAR Interparfums Inc.	0.19%	18,528	$2.1M	Reduce -2.1%
JEPI JPMorgan Equity Premium Inco	0.19%	36,172	$2.1M	Add +2.3%
ROCK Gibraltar Industries Inc.	0.18%	34,454	$2.0M	Reduce -0.6%
QQQ Invesco QQQ Trust Series 1	0.18%	4,263	$2.0M	Add +5.1%
LMAT Lemaitre Vascular Inc.	0.18%	23,364	$2.0M	Reduce -4.0%
RCL Royal Caribbean Cruises Ltd.	0.18%	9,501	$2.0M	Add +72.7%
LLY Eli Lilly & Co.	0.18%	2,353	$1.9M	Add +0.4%
LULU Lululemon Athletica Inc.	0.18%	6,803	$1.9M	Reduce -67.5%
CRBN Ish Low Car Opt Ms Ac ETF-US	0.17%	9,857	$1.9M	Add +13.9%
HWKN Hawkins Inc.	0.17%	17,584	$1.9M	Reduce -3.4%
FELE Franklin Electric Co. Inc.	0.17%	19,797	$1.9M	Reduce -3.6%
CASH Pathward Financial Inc.	0.16%	24,500	$1.8M	New
LQD Ishr Ibx Usd Invgd CB ETF-Ui	0.16%	16,263	$1.8M	Reduce -17.6%
AX Axos Financial Inc.	0.16%	27,014	$1.7M	Reduce -5.7%
CARR Carrier Global Corp.	0.16%	27,275	$1.7M	Reduce -6.1%
FSS Federal Signal Corp.	0.15%	22,650	$1.7M	Reduce -4.1%
MWA Mueller Water Products Inc. Class A	0.15%	64,990	$1.7M	Add +0.8%
GOOG Alphabet Inc. Class C	0.15%	10,518	$1.6M	Reduce -23.2%
MRTN Marten Transport Ltd.	0.15%	116,836	$1.6M	Reduce -4.1%
AZEK The Azek Co. Inc.	0.15%	32,757	$1.6M	Reduce -5.8%
DECK Deckers Outdoor Corp.	0.14%	13,842	$1.5M	No change
SBUX Starbucks Corp.	0.14%	15,554	$1.5M	Reduce -62.9%
MMSI Merit Medical Systems Inc.	0.14%	14,354	$1.5M	Reduce -3.0%
SPSC SPS Commerce Inc.	0.14%	11,357	$1.5M	Reduce -3.5%
XYL Xylem Inc.	0.13%	12,201	$1.5M	No change
MRK Merck & Co. Inc.	0.13%	16,111	$1.4M	Reduce -66.9%
VV Vngrd Mrgstr LRG-Cap ETF-Usd	0.13%	5,611	$1.4M	Add +14.9%
DGII Digi International Inc.	0.13%	50,846	$1.4M	Reduce -3.8%
FNF Fidelity National Financial	0.13%	21,643	$1.4M	No change
RLI Rli Corp.	0.13%	17,519	$1.4M	Reduce -4.3%
BTC Grayscale Bitcoin Mini ETF	0.13%	38,553	$1.4M	Add +3.3%
GOLF Acushnet Holdings Corp.	0.13%	20,283	$1.4M	Reduce -4.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.13%	16,354	$1.4M	Add +0.2%
TLT iShares 20+ Year Treasury BD	0.12%	14,986	$1.4M	Reduce -77.7%
ABNB Airbnb Inc. Class A	0.12%	10,897	$1.3M	Reduce -9.2%
SMPL The Simply Good Foods Co.	0.12%	36,886	$1.3M	Add +1.4%
YOU Clear Secure Inc. Class A	0.12%	48,667	$1.3M	Reduce -4.0%
BRC Brady Corporation Class A	0.11%	17,704	$1.3M	Reduce -3.2%
STRL Sterling Infrastructure Inc.	0.11%	10,972	$1.2M	Add +138.5%
ETHE Grayscale Ethereum Staking E	0.11%	80,923	$1.2M	Reduce -1.1%
YUM Yum! Brands Inc.	0.11%	7,500	$1.2M	No change
SXI Standex International Corp.	0.11%	7,252	$1.2M	Reduce -2.5%
HLNE Hamilton Lane Inc. Class A	0.11%	7,868	$1.2M	Reduce -5.0%
SHW The Sherwin-Williams Co.	0.10%	3,291	$1.1M	Add +0.1%
LMT Lockheed Martin Corp.	0.10%	2,532	$1.1M	Add +3.2%
BIL SS SPDR BB 1-3M T-Bill ETF	0.10%	12,086	$1.1M	Reduce -46.6%
DFCF Dimensional Core Fixed Inc.	0.10%	25,958	$1.1M	Add +4.2%
EUSB Ishr ESG Advn Universal BD-$	0.10%	24,762	$1.1M	No change
IUSG iShares Core S&P U.S. Growth	0.10%	8,330	$1.1M	Add +19.7%
JJSF J & J Snack Foods Corp.	0.10%	7,974	$1.1M	Reduce -3.0%
EAGG iShares ESG Aware US Aggrega	0.10%	21,947	$1.0M	Add +0.1%
SLV iShares Silver Trust	0.09%	33,325	$1.0M	Reduce -11.8%
WHD Cactus Inc. Class A	0.09%	22,251	$1.0M	Reduce -2.7%
GILD Gilead Sciences Inc.	0.09%	8,561	$959K	Reduce -28.3%
PSX Phillips 66	0.09%	7,720	$953K	Add +0.1%
HDV iShares Core High Dividend E	0.09%	7,834	$949K	No change
BWXT BWX Technologies Inc.	0.09%	9,539	$941K	Add +95290.0%
GOVT iShares US Treasury Bond ETF	0.08%	40,458	$930K	Reduce -14.5%
QYLD Global X Nasd 100 Cov Call	0.08%	55,818	$928K	Add +21.7%
USIG iShares Broad Usd Investment	0.08%	18,018	$920K	Add +4.8%
PEP Pepsico Inc.	0.08%	5,944	$891K	Reduce -14.2%
O Realty Income Corp.	0.08%	15,327	$889K	Reduce -0.6%
COP Conocophillips	0.08%	8,357	$878K	Add +1.6%
CMI Cummins Inc.	0.08%	2,781	$872K	Add +1.2%
BMY Bristol-Myers Squibb Co.	0.08%	14,134	$862K	Reduce -5.9%
WM Waste Management Inc.	0.08%	3,703	$857K	Reduce -5.0%
TOL Toll Brothers Inc.	0.08%	8,000	$845K	Add +60.0%
VOO Vanguard S&P 500 ETF	0.08%	1,632	$839K	Add +0.6%
CQP Cheniere Energy Partners LP	0.07%	12,418	$820K	Reduce -25.7%
TRV The Travelers Cos Inc.	0.07%	3,096	$819K	Reduce -13.9%
FITB Fifth Third Bancorp	0.07%	20,410	$800K	Reduce -13.6%
ESGE iShares Inc. iShares ESG Awar	0.07%	22,716	$794K	Add +3.9%
SUSC iShares ESG Aware Usd Corpor	0.07%	34,308	$791K	No change
VFC VF Corp.	0.07%	49,930	$775K	Reduce -2.4%
ITT Itt Inc.	0.07%	5,900	$762K	No change
MLI Mueller Industries Inc.	0.07%	9,662	$736K	Add +4.3%
COR Cencora Inc.	0.07%	2,601	$723K	Reduce -90.3%
INTU Intuit Inc.	0.07%	1,172	$720K	Add +0.4%
VTI VG Morningstar TS MKT ETF-US	0.06%	2,571	$707K	Add +0.3%
SRE Sempra	0.06%	9,875	$705K	Add +68.5%
USXF iShares ESG Advance MSCI USA	0.06%	14,309	$668K	No change
PNC PNC Financial Services Group	0.06%	3,747	$659K	Reduce -10.2%
SNOW Snowflake Inc.	0.06%	4,500	$658K	Reduce -21.1%
IVW iShares S&P 500 Growth ETF	0.06%	6,913	$642K	Reduce -5.2%
ROUS Hartford Multifact US Eqty	0.06%	12,578	$638K	New
AMD Advanced Micro Devices	0.06%	6,204	$637K	Reduce -1.8%
VYM Vanguard High DVD Yield ETF	0.06%	4,939	$637K	Reduce -1.6%
KMI Kinder Morgan Inc.	0.06%	22,250	$635K	Reduce -38.2%
USB US Bancorp	0.06%	14,935	$631K	Reduce -13.4%
SO The Southern Co.	0.06%	6,771	$623K	Add +0.0%
PFE Pfizer Inc.	0.06%	24,542	$622K	Add +3.5%
AYI Acuity Inc.	0.06%	2,321	$611K	Reduce -7.1%
ITCI Intra-Cellular Therapies Inc.	0.06%	4,600	$607K	Reduce -8.0%
BMI Badger Meter Inc.	0.06%	3,176	$604K	Reduce -5.6%
NET Cloudflare Inc. Class A	0.05%	5,325	$600K	Reduce -21.6%
VZ Verizon Communications Inc.	0.05%	13,186	$598K	Add +18.4%
WELL Welltower Inc.	0.05%	3,852	$590K	Add +0.2%
NAC Nuveen Ca QLTY Muni Inc.	0.05%	50,950	$573K	No change
VUG Vanguard Mrngstar GR ETF-Sui	0.05%	1,524	$565K	Add +24.7%
PM Philip Morris International	0.05%	3,556	$565K	Reduce -0.8%
PLTR Palantir Technologies Inc. Class A	0.05%	6,648	$561K	Add +38.9%
NFLX Netflix Inc.	0.05%	574	$535K	Reduce -11.2%
FHN First Horizon Corp.	0.05%	27,450	$533K	Reduce -15.0%
CUZ Cousins Properties Inc.	0.05%	16,790	$495K	Add +5.3%
ADI Analog Devices Inc.	0.05%	2,451	$494K	Reduce -11.7%
CRWD CrowdStrike Holdings Inc. Class A	0.04%	1,393	$491K	Reduce -17.5%
SUI Sun Communities Inc. filed as SUN CMNTYS INC	0.04%	3,795	$488K	Reduce -13.7%
ESS Essex Property Trust Inc.	0.04%	1,592	$488K	Add +0.1%
PFF iShares Preferred & Income S	0.04%	15,742	$484K	Add +24.0%
SCHD Schwab US DVD Equity ETF	0.04%	17,174	$480K	Add +0.1%
BA The Boeing Co.	0.04%	2,810	$479K	Reduce -3.4%
CAT Caterpillar Inc.	0.04%	1,449	$478K	Reduce -11.3%
VPU Vanguard Utilities ETF	0.04%	2,794	$477K	Add +2.1%
PHM Pultegroup Inc.	0.04%	4,616	$475K	Reduce -25.8%
KMB Kimberly-Clark Corp.	0.04%	3,335	$474K	Add +13.1%
ACWV iShares MSCI Global Min Vol	0.04%	4,042	$470K	No change
SYK Stryker Corp.	0.04%	1,242	$462K	Add +29.9%
HR Healthcare Realty Trust Inc.	0.04%	26,990	$456K	No change
MDT Medtronic PLC	0.04%	5,061	$455K	Reduce -39.6%
HSY The Hershey Co.	0.04%	2,646	$453K	Reduce -91.8%
GEV GE Vernova Inc.	0.04%	1,455	$444K	Reduce -17.5%
DE Deere & Co.	0.04%	946	$444K	Reduce -95.2%
BROS Dutch Bros Inc. Class A	0.04%	7,180	$443K	Reduce -35.7%
UBER Uber Technologies Inc.	0.04%	5,873	$428K	Reduce -23.7%
LCTU iShares U.S. Carbon Transiti	0.04%	7,019	$425K	No change
ALL Allstate Corp.	0.04%	1,998	$414K	Reduce -46.0%
MSTR Strategy Inc. filed as MICROSTRATEGY INC	0.04%	1,387	$400K	Add +54.1%
MS Morgan Stanley	0.04%	3,341	$390K	Reduce -3.2%
IBIT iShares Bitcoin Trust ETF	0.04%	8,278	$387K	Add +0.1%
SCHG Schwab US Large-Cap Growth	0.04%	15,419	$386K	Add +2.7%
IDV iShares International Select	0.04%	12,365	$384K	Reduce -3.6%
DHI D.R. Horton Inc.	0.03%	3,003	$382K	Reduce -40.0%
ETH Grayscale Ethereum Staking M	0.03%	22,159	$382K	Add +27.0%
GEHC GE Healthcare Technology	0.03%	4,699	$379K	Reduce -37.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.03%	9,015	$376K	Add +1.3%
CORP PIMCO Inv Grade Corp. BD ETF	0.03%	3,877	$375K	Add +134.3%
GE General Electric filed as GE AEROSPACE	0.03%	1,874	$375K	Add +0.6%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC	0.03%	6,800	$372K	Add +12.0%
ESGV Vanguard ESG US Stock ETF	0.03%	3,700	$362K	No change
XNCMX Nuveen Ca Amt-FR Muni Inc.	0.03%	28,539	$359K	Add +0.1%
AON Aon PLC Class A	0.03%	880	$351K	Reduce -0.1%
KBH KB Home	0.03%	6,001	$349K	Add +199.9%
GDX Vaneck Gold Miners ETF	0.03%	7,550	$347K	Reduce -21.4%
LEN Lennar Corp. Class A	0.03%	3,023	$347K	Add +140.3%
SYLD Cambria Shareholder Yield Et	0.03%	5,438	$347K	Add +35.0%
FIXD First Trust Smith Opportunis	0.03%	7,897	$346K	No change
HBAN Huntington Bancshares Inc.	0.03%	22,495	$338K	Reduce -3.4%
SHOP Shopify Inc. Class A	0.03%	3,465	$331K	Add +12.2%
NSA National Storage Affiliates	0.03%	8,370	$330K	Add +48.1%
ET Energy Transfer LP	0.03%	17,120	$318K	Reduce -1.7%
FSK FS KKR Capital Corp.	0.03%	15,070	$316K	Reduce -6.2%
T AT&T Inc.	0.03%	10,986	$311K	Reduce -7.2%
LIN Linde PLC	0.03%	662	$308K	Add +0.8%
BABA Alibaba Group Holding-SP ADR	0.03%	2,327	$308K	Add +136.2%
CVS CVS Health Corp.	0.03%	4,499	$305K	Reduce -3.1%
INTC Intel Corp.	0.03%	13,367	$304K	Reduce -7.4%
SCHB Schwab US Broad Market ETF	0.03%	12,873	$277K	Add +57.5%
FLOT iShares Floating Rate Bond E	0.03%	5,363	$274K	Reduce -2.7%
MKC McCormick & Co.-Non VTG SHRS	0.02%	3,318	$273K	No change
TOTL SS Doubleline TR Tact ETF	0.02%	6,700	$270K	No change
AOR iShares Core 60/40 Balanced	0.02%	4,667	$269K	Add +8.7%
MO Altria Group Inc.	0.02%	4,454	$267K	Add +9.8%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F	0.02%	5,122	$265K	Add +17.1%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE	0.02%	624	$262K	No change
JPIE JPMorgan Income ETF	0.02%	5,684	$262K	Add +46.0%
GIS General Mills Inc.	0.02%	4,352	$260K	Add +175.4%
SCHA Schwab US Small-Cap ETF	0.02%	10,962	$257K	Reduce -13.5%
XLE SS Energy Select Sector	0.02%	2,717	$254K	Add +1.8%
BND Vanguard Total Bond Market	0.02%	3,428	$252K	Add +0.1%
IWV iShares Russell 3000 ETF	0.02%	792	$252K	No change
NWBI Northwest Bancshares Inc.	0.02%	20,750	$249K	Add +2.5%
EMR Emerson Electric Co.	0.02%	2,270	$249K	Add +36.2%
VNQ Vanguard Real Estate ETF	0.02%	2,715	$246K	No change
HPQ HP Inc.	0.02%	8,839	$245K	Reduce -8.3%
SHV iShares 0-1 Year Treasury Bo	0.02%	2,214	$245K	Add +79.4%
SGOV iShares 0-3 Month Treasury B	0.02%	2,418	$243K	Reduce -1.3%
DUK Duke Energy Corp.	0.02%	1,981	$242K	Reduce -0.1%
DUSB Dimension Ultrashort Fi ETF	0.02%	4,730	$240K	Reduce -17.4%
INCE Franklin Income Equity Focus	0.02%	4,200	$236K	Add +51.5%
BSM Black Stone Minerals LP	0.02%	15,000	$229K	New
ICVT iShares Convertible Bond ETF	0.02%	2,714	$227K	Reduce -8.3%
VB Vanguard Most SM-Cap ETF-Usd	0.02%	1,003	$222K	No change
SDY SS SPDR S&P Dividend ETF	0.02%	1,603	$217K	Reduce -13.6%
MA Mastercard Inc. Class A	0.02%	393	$215K	Add +7.1%
CHD Church & Dwight Co. Inc.	0.02%	1,951	$215K	Reduce -1.0%
TTI Tetra Technologies Inc.	0.02%	63,000	$212K	Add +65.8%
DVY iShares Select Dividend ETF	0.02%	1,567	$210K	No change
XLK SS Technology Select Sector	0.02%	1,019	$210K	Add +2.0%
VEU Vanguard Ftse All-World Ex-U	0.02%	3,446	$209K	Add +23.3%
CL Colgate-Palmolive Co.	0.02%	2,228	$209K	Add +14.1%
HPE Hewlett Packard Enterprise	0.02%	13,511	$208K	Reduce -56.4%
DSI iShares ESG MSCI KLD 400 ETF	0.02%	2,025	$207K	No change
ENB Enbridge Inc.	0.02%	4,660	$206K	Add +1.1%
OTIS Otis Worldwide Corp.	0.02%	2,000	$206K	No change
AZO AutoZone Inc.	0.02%	53	$202K	Reduce -20.9%
MMM 3M Co.	0.02%	1,375	$202K	Reduce -14.9%
PLD Prologis Inc.	0.02%	1,799	$201K	Add +5.6%
EOSE Eos Energy Enterprises Inc.	0.02%	50,000	$189K	Add +11.1%
NBB Nuveen Taxable Municipal Inc.	0.02%	11,696	$187K	No change
NMZ Nuveen Muni Hi Inc. Opport	0.02%	15,657	$171K	No change
F Ford Motor Co. filed as FORD MTR CO	0.02%	16,477	$165K	Reduce -42.6%
UDMY Udemy Inc.	0.01%	20,000	$155K	No change
XEXGX Eaton Vance Tax-Managed Glob	0.01%	14,350	$117K	No change
MUC BlackRock Munihold Ca QLTY	0.01%	10,693	$115K	Add +16.6%
VLY Valley National Bancorp	0.01%	11,800	$105K	Add +9.3%
XERS Xeris Biopharma Holdings Inc.	0.01%	16,276	$89K	Reduce -9.7%
LXP LXP Industrial Trust	0.01%	10,022	$87K	No change
FLD Fold Holdings Inc. filed as FOLD HLDGS INC	0.01%	10,025	$62K	New
SPWR Sunpower Inc. filed as COMPLETE SOLARIA INC	0.00%	31,000	$48K	Reduce -40.4%
CHGG Chegg Inc.	0.00%	41,000	$26K	No change
CHPT Chargepoint Holdings Inc.	0.00%	40,650	$25K	No change
IMNN Imunon Inc.	0.00%	10,266	$11K	New
BIOAFFINITY TECHNOLOGIES INC	0.00%	16,012	$4K	New

Other holdings (1): bonds, preferreds, convertibles and warrants · $817K (not counted above)

Security	Class	Shares / Principal	Value	Change
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	681	$817K	Reduce -5.4%

Total filed on the 13F, all lines: $1.1B.

Portfolio Sells Q4 2024 → Q1 2025


ABBV Abbvie Inc.	Reduce -74.7%	0.82%	−1.38
GOOGL Alphabet Inc. Class A	Reduce -29.2%	2.31%	−0.89
MSFT Microsoft Corp.	Reduce -23.8%	3.68%	−0.67
MTUM iShares MSCI USA Momentum Fa	Reduce -79.3%	0.21%	−0.61
DE Deere & Co.	Reduce -95.2%	0.04%	−0.56
NVDA Nvidia Corp.	Reduce -34.5%	1.07%	−0.55
UNH Unitedhealth Group Inc.	Reduce -74.2%	0.28%	−0.55
V Visa Inc. Class A	Reduce -58.8%	0.70%	−0.53
SPGI S&P Global Inc.	Sold out	0.00%	−0.50
IR Ingersoll-Rand Inc.	Sold out	0.00%	−0.45
ETN Eaton Corp. PLC	Reduce -26.8%	1.29%	−0.43
LULU Lululemon Athletica Inc.	Reduce -67.5%	0.18%	−0.41
HON Honeywell International Inc.	Reduce -58.0%	0.38%	−0.40
AAPL Apple Inc.	Reduce -14.3%	7.16%	−0.39
COR Cencora Inc.	Reduce -90.3%	0.07%	−0.38
HSY The Hershey Co.	Reduce -91.8%	0.04%	−0.36
TJX TJX Companies Inc.	Reduce -58.3%	0.36%	−0.32
TLT iShares 20+ Year Treasury BD	Reduce -77.7%	0.12%	−0.31
AMZN Amazon.com Inc.	Reduce -25.4%	1.16%	−0.28
ORCL Oracle Corp.	Reduce -20.2%	1.26%	−0.25
IBM Intl Business Machines Corp.	Reduce -35.2%	2.59%	−0.24
MRK Merck & Co. Inc.	Reduce -66.9%	0.13%	−0.22
ROP Roper Technologies Inc.	Reduce -48.6%	0.58%	−0.22
IJR iShares Core S&P Small-Cap E	Sold out	0.00%	−0.21
DIS The Walt Disney Co.	Reduce -25.6%	0.84%	−0.18
TBBK The Bancorp Inc.	Sold out	0.00%	−0.18
AVGO Broadcom Inc.	Reduce -1.3%	1.33%	−0.17
VRSK Verisk Analytics Inc.	Sold out	0.00%	−0.16
FANG Diamondback Energy Inc.	Sold out	0.00%	−0.16
LOW Lowe's Cos Inc.	Sold out	0.00%	−0.15
UPS United Parcel Service Class B	Sold out	0.00%	−0.15
TXN Texas Instruments Inc.	Sold out	0.00%	−0.14
SBUX Starbucks Corp.	Reduce -62.9%	0.14%	−0.14
TROW T Rowe Price Group Inc.	Sold out	0.00%	−0.14
RIO Rio Tinto PLC-Spon ADR	Sold out	0.00%	−0.11
HD Home Depot Inc.	Reduce -44.4%	0.21%	−0.11
SLB SLB Ltd.	Reduce -34.8%	0.84%	−0.11
TDW Tidewater Inc.	Sold out	0.00%	−0.10
BLKB Blackbaud Inc.	Sold out	0.00%	−0.10
DHR Danaher Corp.	Reduce -17.3%	1.18%	−0.10
ABT Abbott Laboratories	Reduce -52.5%	0.21%	−0.09
CMC Commercial Metals Co.	Sold out	0.00%	−0.09
WPM Wheaton Precious Metals Corp.	Reduce -52.7%	0.25%	−0.06
ETHE Grayscale Ethereum Staking E	Reduce -1.1%	0.11%	−0.06
PG The Procter & Gamble Co.	Reduce -24.0%	1.42%	−0.05
BIL SS SPDR BB 1-3M T-Bill ETF	Reduce -46.6%	0.10%	−0.05
ANET Arista Networks Inc.	Reduce -2.8%	0.24%	−0.04
GOOG Alphabet Inc. Class C	Reduce -23.2%	0.15%	−0.04
NDAQ Nasdaq Inc.	Reduce -25.0%	0.45%	−0.04
ELV Elevance Health Inc.	Sold out	0.00%	−0.04

Portfolio Buys Q4 2024 → Q1 2025


BDX Becton Dickinson and Co.	Add +17014.2%	1.34%	+1.33
CSCO Cisco Systems Inc.	Add +17.1%	2.88%	+0.99
DYNF Ishrs US E F R A ETF-Usd Inc.	Add +8360.4%	0.80%	+0.79
BRK.B Berkshire Hathaway Inc. Class B	Add +83.0%	1.18%	+0.74
ITW Illinois Tool Works	Add +3089.8%	0.62%	+0.61
NKE Nike Inc. Class B	Add +7438.7%	0.51%	+0.51
IAU iShares Gold Trust	Add +1.7%	1.33%	+0.45
TLH iShares 10-20 Year Treasury	New	0.45%	+0.45
META Meta Platforms Inc. Class A	Add +15.7%	1.44%	+0.43
BINC iShares Flex I A ETF-Usd Inc.	Add +30.4%	0.95%	+0.37
COST Costco Wholesale Corp.	Add +3.7%	1.07%	+0.27
BRK.A Berkshire Hathaway Inc. Class A	Add +12.5%	0.66%	+0.26
FSMD Fidelity Small-Mid Multifact	New	0.26%	+0.26
TFLO iShares Treasury Floating Ra	Add +11.8%	0.76%	+0.22
FBTC Fidelity Wise Origin Bitcoin	Add +0.8%	1.72%	+0.17
CASH Pathward Financial Inc.	New	0.16%	+0.16
SHY iShares 1-3 Year Treasury Bo	Add +0.1%	0.73%	+0.15
VNOM Viper Energy Inc.	Add +67.5%	0.24%	+0.12
RTX RTX Corp.	Add +0.4%	0.36%	+0.11
NEAR iShares SH Dba ETF Usd Inc.	Add +6.9%	0.37%	+0.09
AWK American Water Works Co. Inc.	Add +15.2%	0.22%	+0.09
BWXT BWX Technologies Inc.	Add +95290.0%	0.09%	+0.09
RCL Royal Caribbean Cruises Ltd.	Add +72.7%	0.18%	+0.09
EMB iShares JP Morgan Usd Emergi	Add +7.8%	0.31%	+0.08
CSW CSW Industrials Inc.	Add +45.7%	0.24%	+0.08
ROUS Hartford Multifact US Eqty	New	0.06%	+0.06
STRL Sterling Infrastructure Inc.	Add +138.5%	0.11%	+0.06
RSP Invesco S&P 500 Equal Weight	Add +3.2%	0.26%	+0.06
WMT Walmart Inc.	Add +12.8%	0.20%	+0.05
NTRS Northern Trust Corp.	Add +0.0%	0.30%	+0.05
CRBN Ish Low Car Opt Ms Ac ETF-US	Add +13.9%	0.17%	+0.05
LLY Eli Lilly & Co.	Add +0.4%	0.18%	+0.04
MWA Mueller Water Products Inc. Class A	Add +0.8%	0.15%	+0.04
ADBE Adobe Inc.	Add +1.2%	0.51%	+0.04
JEPI JPMorgan Equity Premium Inco	Add +2.3%	0.19%	+0.04
VV Vngrd Mrgstr LRG-Cap ETF-Usd	Add +14.9%	0.13%	+0.04
BNY Bank of New York Mellon Corp.	Add +0.2%	0.13%	+0.03
TOL Toll Brothers Inc.	Add +60.0%	0.08%	+0.03
QQQ Invesco QQQ Trust Series 1	Add +5.1%	0.18%	+0.03
SRE Sempra	Add +68.5%	0.06%	+0.03
IUSG iShares Core S&P U.S. Growth	Add +19.7%	0.10%	+0.03
PLTR Palantir Technologies Inc. Class A	Add +38.9%	0.05%	+0.02
DFCF Dimensional Core Fixed Inc.	Add +4.2%	0.10%	+0.02
QYLD Global X Nasd 100 Cov Call	Add +21.7%	0.08%	+0.02
SHW The Sherwin-Williams Co.	Add +0.1%	0.10%	+0.02
PSX Phillips 66	Add +0.1%	0.09%	+0.02
CORP PIMCO Inv Grade Corp. BD ETF	Add +134.3%	0.03%	+0.02
KBH KB Home	Add +199.9%	0.03%	+0.02
BABA Alibaba Group Holding-SP ADR	Add +136.2%	0.03%	+0.02
VZ Verizon Communications Inc.	Add +18.4%	0.05%	+0.02

Options Activity Q4 2024 → Q1 2025


TJX TJX Companies Inc.	call	Sold out	3,400	$411Kbefore exit
MSFT Microsoft Corp.	call	Sold out	900	$379Kbefore exit
V Visa Inc. Class A	call	Sold out	1,100	$348Kbefore exit
AAPL Apple Inc.	call	Sold out	1,300	$326Kbefore exit
TXN Texas Instruments Inc.	call	Sold out	1,300	$244Kbefore exit
HSY The Hershey Co.	call	Sold out	100	$17Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2024 → Q1 2025


WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	Reduce -5.4%	681	$817K
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	Sold out	37	$45Kbefore exit
RLJ LODGING TRUST (RLJ 1.95 PERP A)	CUM CONV PFD A	Sold out	1,600	$39Kbefore exit
LXP INDUSTRIAL TRUST (LXP 6.5 PERP C)	PFD CONV SER C	Sold out	200	$10Kbefore exit
FBND Fidelity Total Bond ETF	TOTAL BD ETF	Sold out	0	$21before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	386	$1.4B	AAPL, GOOGL, AVGO, MSFT, ADM
Q1 2026	360	$1.3B	AAPL, GOOGL, MSFT, ADM, AVGO
Q4 2025	336	$1.4B	AAPL, GOOGL, MSFT, TSLA, AVGO
Q3 2025	332	$1.3B	AAPL, MSFT, GOOGL, TSLA, AVGO
Q2 2025	321	$1.2B	AAPL, MSFT, CSCO, IBM, GOOGL
Q1 2025	311	$1.1B	AAPL, MSFT, CSCO, IBM, AJG
Q4 2024	1,153	$1.4B	AAPL, MSFT, GOOGL, IBM, ABBV
Q3 2024	318	$1.4B	AAPL, MSFT, IBM, BBY, GOOGL
Q2 2024	301	$1.5B	AAPL, MSFT, BBY, GOOGL, IBM
Q1 2024	319	$1.5B	AAPL, MSFT, BBY, GOOGL, ABBV