Vision Capital Management, Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 30, 2025), Vision Capital Management, Inc. reported 135 stock positions worth $693.8 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 9.5% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 8.0%) and Apple (AAPL, 7.6%). Compared with Q4 2024, it opened 13 new positions, sold out of 9, added to 48 and reduced 50. The biggest buy was iShares Core S&P Small-Cap E (IJR, shares +31%) and the biggest sale Van Morst SML-Cap Gro-Usd (VBK, shares −1%).

Most Recent 13F
Q2 2026
Location
PORTLAND, OR
CIK
0001417889
Portfolio Value
$693.8M (Q1 2025)
SEC Filing
0001785445-25-000006 ↗ filed Apr 30, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $670.4M Q1 2024 Q2 2024: $672.2M Q2 2024 Q3 2024: $709.4M Q3 2024 Q4 2024: $680.5M Q4 2024 Q1 2025: $693.8M $693.8M Q1 2025 Q2 2025: $761.0M Q2 2025 Q3 2025: $810.6M Q3 2025 Q4 2025: $829.5M Q4 2025 Q1 2026: $791.9M Q1 2026 Q2 2026: $875.9M Q2 2026

Holdings 135 stocks · $693.8M
IVV iShares Core S&P 500 ETF 9.52% 117,514 $66.0M Add +3.7%
VEA Vanguard Ftse Developed ETF 7.97% 1,088,184 $55.3M Add +3.1%
AAPL Apple Inc. 7.59% 237,157 $52.7M Add +5.1%
IJR iShares Core S&P Small-Cap E 4.90% 325,236 $34.0M Add +30.6%
VBK Van Morst SML-Cap Gro-Usd Inc. 3.72% 102,390 $25.8M Reduce -0.8%
VWO Vanguard Ftse Emerging Marke 3.53% 540,629 $24.5M Add +8.5%
MSFT Microsoft Corp. 3.40% 62,779 $23.6M Add +4.7%
IAU iShares Gold Trust 3.21% 378,314 $22.3M Add +3.4%
GOOGL Alphabet Inc. Class A 2.88% 129,434 $20.0M Add +2.0%
AMZN Amazon.com Inc. 2.81% 102,383 $19.5M Add +5.0%
IDEV iShares Core MSCI Dev MKTS 2.49% 251,270 $17.3M Reduce -1.1%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.47% 157,950 $17.2M Add +7.3%
V Visa Inc. Class A 2.41% 47,643 $16.7M Reduce -1.2%
SHW The Sherwin-Williams Co. 1.66% 32,937 $11.5M Reduce -0.3%
NVDA Nvidia Corp. 1.62% 103,930 $11.3M Add +1.4%
IJH iShares Core S&P Midcap ETF 1.47% 174,299 $10.2M Reduce -1.5%
JNJ Johnson & Johnson 1.38% 57,698 $9.6M Add +4.4%
COST Costco Wholesale Corp. 1.37% 10,021 $9.5M Add +12.4%
UHAL.B U-Haul Holding Co.-Non Voting 1.35% 157,761 $9.3M Reduce -9.3%
AMGN Amgen Inc. 1.32% 29,314 $9.1M Add +1.3%
BR Broadridge Financial Solutio 1.32% 37,644 $9.1M Add +0.2%
WSO Watsco Inc. 1.31% 17,849 $9.1M Add +6.8%
SCHF Schwab Intl Equity ETF 1.31% 458,470 $9.1M Reduce -2.3%
SBUX Starbucks Corp. 1.24% 87,792 $8.6M Add +5.7%
HON Honeywell International Inc. 1.14% 37,328 $7.9M Add +0.7%
QCOM Qualcomm Inc. 1.01% 45,514 $7.0M Add +25.8%
PGR Progressive Corp. 0.95% 23,245 $6.6M Add +0.1%
CRM Salesforce Inc. 0.94% 24,202 $6.5M Add +6.9%
LLY Eli Lilly & Co. 0.89% 7,488 $6.2M Reduce -1.3%
ZTS Zoetis Inc. 0.86% 36,286 $6.0M Reduce -0.0%
IQV Iqvia Holdings Inc. 0.85% 33,644 $5.9M Add +2.2%
VOO Vanguard S&P 500 ETF 0.83% 11,214 $5.8M Reduce -3.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.83% 58,016 $5.7M Add +2.4%
SNA Snap-on Inc. 0.81% 16,646 $5.6M Add +1.1%
ADBE Adobe Inc. 0.76% 13,674 $5.2M Add +5.4%
SPEM State Street SP PTF Em ETF 0.74% 129,928 $5.1M Reduce -3.8%
NKE Nike Inc. Class B 0.70% 76,574 $4.9M Add +12.0%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.68% 112,149 $4.7M Reduce -0.0%
NEE Nextera Energy Inc. 0.61% 60,141 $4.3M Add +16.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.59% 98,002 $4.1M Add +75.6%
PANW Palo Alto Networks Inc. 0.55% 22,423 $3.8M New
IWP iShares Russell Mid-Cap Grow 0.52% 30,767 $3.6M No change
KMX Carmax Inc. 0.50% 44,286 $3.5M Add +1.9%
VRTX Vertex Pharmaceuticals Inc. 0.46% 6,565 $3.2M Add +30.7%
IEF iShares 7-10 Year Treasury B 0.45% 32,911 $3.1M Reduce -2.1%
WMS Advanced Drainage Systems Inc. 0.44% 27,988 $3.0M Add +12.0%
CVS CVS Health Corp. 0.43% 43,920 $3.0M Add +2.3%
UPS United Parcel Service Class B 0.42% 26,782 $2.9M Add +13.6%
WSM Williams-Sonoma Inc. 0.42% 18,436 $2.9M Add +0.3%
IWM iShares Russell 2000 ETF 0.39% 13,511 $2.7M Reduce -0.1%
SCHA Schwab US Small-Cap ETF 0.39% 114,625 $2.7M Reduce -0.8%
ESML iShares ESG Aware MSCI USA S 0.38% 68,891 $2.6M Add +17.9%
ESGD iShares Trust iShares ESG Aw 0.38% 31,986 $2.6M Reduce -0.1%
LOW Lowe's Cos Inc. 0.35% 10,315 $2.4M Reduce -0.5%
DFS Discover Financial Services 0.35% 14,075 $2.4M Add +4.1%
PINS Pinterest Inc. Class A 0.34% 77,166 $2.4M Reduce -13.0%
NVR NVR Inc. 0.33% 313 $2.3M Reduce -0.9%
JPM JPMorgan Chase & Co. 0.33% 9,240 $2.3M Add +30.8%
ESGU iShares ESG Aware MSCI USA 0.30% 17,004 $2.1M Reduce -1.6%
QUAL iShares MSCI USA Quality Fac 0.29% 11,637 $2.0M Reduce -0.8%
CHRW C.H. Robinson Worldwide Inc. 0.25% 16,880 $1.7M Add +0.5%
SCHM Schwab US Mid Cap ETF 0.25% 65,159 $1.7M Reduce -3.5%
IWB iShares Russell 1000 ETF 0.25% 5,559 $1.7M No change
AMAT Applied Materials Inc. 0.24% 11,391 $1.7M Add +32.8%
USB US Bancorp 0.23% 37,424 $1.6M Reduce -35.9%
SCHX Schwab US Large-Cap ETF 0.22% 68,569 $1.5M Reduce -9.4%
SGOV iShares 0-3 Month Treasury B 0.18% 12,209 $1.2M Reduce -11.0%
DINO HF Sinclair Corp. 0.16% 34,690 $1.1M Reduce -2.4%
TFSL TFS Financial Corp. 0.16% 92,031 $1.1M Reduce -10.0%
SUSC iShares ESG Aware Usd Corpor 0.16% 48,723 $1.1M Reduce -1.3%
ACN Accenture PLC Class A 0.16% 3,493 $1.1M Reduce -3.3%
PYPL PayPal Holdings Inc. 0.16% 16,529 $1.1M Reduce -6.5%
VYM Vanguard High DVD Yield ETF 0.15% 8,254 $1.1M No change
CVX Chevron Corp. 0.14% 5,618 $940K Add +20.4%
VLUE iShares MSCI USA Value Facto 0.13% 8,593 $916K No change
HD Home Depot Inc. 0.13% 2,457 $900K Add +68.6%
SYY Sysco Corp. 0.13% 11,921 $895K Reduce -5.7%
META Meta Platforms Inc. Class A 0.13% 1,550 $893K New
ESGE iShares Inc. iShares ESG Awar 0.12% 23,794 $832K Reduce -8.1%
ADP Automatic Data Processing 0.12% 2,654 $811K Add +60.5%
VCIT Vanguard Int-Term Corporate 0.11% 9,690 $792K Reduce -5.9%
GOOG Alphabet Inc. Class C 0.11% 4,855 $758K Add +54.5%
VTI VG Morningstar TS MKT ETF-US 0.11% 2,725 $749K Reduce -17.6%
IVLU iShares MSCI International V 0.10% 23,173 $702K Reduce -4.9%
BRK.B Berkshire Hathaway Inc. Class B 0.10% 1,291 $688K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.10% 1,790 $664K No change
WMT Walmart Inc. 0.09% 7,498 $658K Add +150.1%
WM Waste Management Inc. 0.09% 2,802 $649K New
GILD Gilead Sciences Inc. 0.09% 5,661 $634K Reduce -7.5%
FFIV F5 Inc. 0.08% 2,199 $586K Reduce -4.8%
ILCG iShares Morningstar Growth E 0.08% 6,740 $546K No change
KO The Coca-Cola Co. 0.07% 7,191 $515K No change
PG The Procter & Gamble Co. 0.07% 2,819 $480K Add +89.5%
MOAT Vaneck Morningstar Wide Moat 0.07% 5,453 $480K No change
MA Mastercard Inc. Class A 0.07% 859 $471K No change
DHR Danaher Corp. 0.07% 2,248 $461K New
TXN Texas Instruments Inc. 0.07% 2,530 $455K Reduce -3.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 771 $431K Reduce -26.1%
DFIV Dimensional International Va 0.06% 10,931 $430K Reduce -17.3%
DVY iShares Select Dividend ETF 0.06% 3,099 $416K No change
VB Vanguard Most SM-Cap ETF-Usd 0.06% 1,847 $410K No change
SCHR Schwab Intermediate-Term US 0.06% 16,314 $406K Reduce -3.7%
MAR Marriott International Class A 0.05% 1,584 $377K Add +14.4%
CSCO Cisco Systems Inc. 0.05% 6,110 $377K Add +3.7%
APD Air Products & Chemicals Inc. 0.05% 1,275 $376K New
IWF iShares Russell 1000 Growth 0.05% 999 $361K No change
CLX Clorox Company 0.05% 2,440 $359K Add +96.8%
FISV Fiserv Inc. 0.05% 1,602 $354K No change
MCD McDonald's Corp. 0.05% 1,130 $353K New
CL Colgate-Palmolive Co. 0.05% 3,438 $322K New
ECL Ecolab Inc. 0.05% 1,250 $317K New
ABBV Abbvie Inc. 0.04% 1,487 $312K Reduce -29.7%
VEU Vanguard Ftse All-World Ex-U 0.04% 5,105 $310K No change
INTC Intel Corp. 0.04% 12,990 $295K Reduce -1.6%
DFAT Dimensional US Target Value 0.04% 5,699 $293K No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 4,437 $293K Reduce -21.5%
ORCL Oracle Corp. 0.04% 1,991 $278K New
PEP Pepsico Inc. 0.04% 1,832 $275K Reduce -24.7%
USMV iShares MSCI USA Min Vol Fac 0.04% 2,908 $272K No change
CAT Caterpillar Inc. 0.04% 820 $270K Reduce -19.6%
MAS Masco Corp. 0.04% 3,820 $266K No change
TSLA Tesla Inc. 0.04% 1,022 $265K Reduce -18.4%
TRV The Travelers Cos Inc. 0.04% 1,000 $264K New
QQQ Invesco QQQ Trust Series 1 0.04% 559 $262K Reduce -28.2%
UNH Unitedhealth Group Inc. 0.04% 497 $260K Reduce -7.5%
CEG Constellation Energy 0.04% 1,267 $255K No change
CRWD CrowdStrike Holdings Inc. Class A 0.04% 700 $247K No change
CTSH Cognizant Tech Solutions-A 0.03% 3,107 $238K No change
AWR American States Water Co. filed as AMER STATES WTR CO 0.03% 2,921 $230K No change
AMD Advanced Micro Devices 0.03% 2,200 $226K Reduce -4.3%
AVA Avista Corp. 0.03% 5,357 $224K New
IYF iShares US Financials ETF 0.03% 1,974 $223K New
AFG American Financial Group Inc. 0.03% 1,689 $222K No change
EXC Exelon Corp. 0.03% 4,607 $212K New
LAMR Lamar Advertising Co. Class A 0.03% 1,800 $205K No change

Portfolio Sells Q4 2024 → Q1 2025
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -0.8% 3.72% −0.53
UHAL.B U-Haul Holding Co.-Non Voting Reduce -9.3% 1.35% −0.29
UHAL U-Haul Holding Co. Sold out 0.00% −0.25
USB US Bancorp Reduce -35.9% 0.23% −0.18
IJH iShares Core S&P Midcap ETF Reduce -1.5% 1.47% −0.15
VOO Vanguard S&P 500 ETF Reduce -3.2% 0.83% −0.09
PYPL PayPal Holdings Inc. Reduce -6.5% 0.16% −0.07
ILMN Illumina Inc. Sold out 0.00% −0.06
NVR NVR Inc. Reduce -0.9% 0.33% −0.05
SCHA Schwab US Small-Cap ETF Reduce -0.8% 0.39% −0.05
IWM iShares Russell 2000 ETF Reduce -0.1% 0.39% −0.05
BLK BlackRock Inc. Sold out 0.00% −0.04
SCHX Schwab US Large-Cap ETF Reduce -9.4% 0.22% −0.04
UNP Union Pacific Corp. Sold out 0.00% −0.04
AFL Aflac Inc. Sold out 0.00% −0.04
TSLA Tesla Inc. Reduce -18.4% 0.04% −0.04
FSLR First Solar Inc. Sold out 0.00% −0.04
PINS Pinterest Inc. Class A Reduce -13.0% 0.34% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -17.6% 0.11% −0.03
SHOP Shopify Inc. Class A Sold out 0.00% −0.03
SRE Sempra Sold out 0.00% −0.03
HDV iShares Core High Dividend E Sold out 0.00% −0.03
ACN Accenture PLC Class A Reduce -3.3% 0.16% −0.03
LOW Lowe's Cos Inc. Reduce -0.5% 0.35% −0.03
SCHM Schwab US Mid Cap ETF Reduce -3.5% 0.25% −0.03
ESGU iShares ESG Aware MSCI USA Reduce -1.6% 0.30% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -26.1% 0.06% −0.03
SGOV iShares 0-3 Month Treasury B Reduce -11.0% 0.18% −0.03
TFSL TFS Financial Corp. Reduce -10.0% 0.16% −0.02
SPEM State Street SP PTF Em ETF Reduce -3.8% 0.74% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -28.2% 0.04% −0.02
QUAL iShares MSCI USA Quality Fac Reduce -0.8% 0.29% −0.02
EL Estee Lauder Companies Class A Reduce -21.5% 0.04% −0.02
DINO HF Sinclair Corp. Reduce -2.4% 0.16% −0.02
CAT Caterpillar Inc. Reduce -19.6% 0.04% −0.02
PEP Pepsico Inc. Reduce -24.7% 0.04% −0.01
SYY Sysco Corp. Reduce -5.7% 0.13% −0.01
ABBV Abbvie Inc. Reduce -29.7% 0.04% −0.01
AMD Advanced Micro Devices Reduce -4.3% 0.03% −0.01
ZTS Zoetis Inc. Reduce -0.0% 0.86% −0.01
VCIT Vanguard Int-Term Corporate Reduce -5.9% 0.11% −0.01
ESGE iShares Inc. iShares ESG Awar Reduce -8.1% 0.12% −0.01
DFIV Dimensional International Va Reduce -17.3% 0.06% −0.01
TXN Texas Instruments Inc. Reduce -3.7% 0.07% −0.01
IEF iShares 7-10 Year Treasury B Reduce -2.1% 0.45% −0.00
SUSC iShares ESG Aware Usd Corpor Reduce -1.3% 0.16% −0.00
UNH Unitedhealth Group Inc. Reduce -7.5% 0.04% −0.00
SCHR Schwab Intermediate-Term US Reduce -3.7% 0.06% −0.00
FFIV F5 Inc. Reduce -4.8% 0.08% −0.00
INTC Intel Corp. Reduce -1.6% 0.04% +0.00

Portfolio Buys Q4 2024 → Q1 2025
IJR iShares Core S&P Small-Cap E Add +30.6% 4.90% +0.69
VEA Vanguard Ftse Developed ETF Add +3.1% 7.97% +0.56
IAU iShares Gold Trust Add +3.4% 3.21% +0.55
PANW Palo Alto Networks Inc. New 0.55% +0.55
VWO Vanguard Ftse Emerging Marke Add +8.5% 3.53% +0.30
BAC Bank of America Corp. Add +75.6% 0.59% +0.23
AMGN Amgen Inc. Add +1.3% 1.32% +0.21
JNJ Johnson & Johnson Add +4.4% 1.38% +0.20
QCOM Qualcomm Inc. Add +25.8% 1.01% +0.19
COST Costco Wholesale Corp. Add +12.4% 1.37% +0.17
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +7.3% 2.47% +0.16
VRTX Vertex Pharmaceuticals Inc. Add +30.7% 0.46% +0.16
CVS CVS Health Corp. Add +2.3% 0.43% +0.15
WSO Watsco Inc. Add +6.8% 1.31% +0.14
PGR Progressive Corp. Add +0.1% 0.95% +0.13
META Meta Platforms Inc. Class A New 0.13% +0.13
SBUX Starbucks Corp. Add +5.7% 1.24% +0.13
WM Waste Management Inc. New 0.09% +0.09
JPM JPMorgan Chase & Co. Add +30.8% 0.33% +0.08
NEE Nextera Energy Inc. Add +16.0% 0.61% +0.07
BR Broadridge Financial Solutio Add +0.2% 1.32% +0.07
DHR Danaher Corp. New 0.07% +0.07
WMT Walmart Inc. Add +150.1% 0.09% +0.06
APD Air Products & Chemicals Inc. New 0.05% +0.05
MCD McDonald's Corp. New 0.05% +0.05
HD Home Depot Inc. Add +68.6% 0.13% +0.05
CL Colgate-Palmolive Co. New 0.05% +0.05
ADP Automatic Data Processing Add +60.5% 0.12% +0.05
ECL Ecolab Inc. New 0.05% +0.05
ORCL Oracle Corp. New 0.04% +0.04
TRV The Travelers Cos Inc. New 0.04% +0.04
CVX Chevron Corp. Add +20.4% 0.14% +0.04
AMAT Applied Materials Inc. Add +32.8% 0.24% +0.03
PG The Procter & Gamble Co. Add +89.5% 0.07% +0.03
AVA Avista Corp. New 0.03% +0.03
IYF iShares US Financials ETF New 0.03% +0.03
EXC Exelon Corp. New 0.03% +0.03
CLX Clorox Company Add +96.8% 0.05% +0.02
GOOG Alphabet Inc. Class C Add +54.5% 0.11% +0.02
ESML iShares ESG Aware MSCI USA S Add +17.9% 0.38% +0.02
WMS Advanced Drainage Systems Inc. Add +12.0% 0.44% +0.01
CSCO Cisco Systems Inc. Add +3.7% 0.05% +0.00
DFS Discover Financial Services Add +4.1% 0.35% +0.00
MAR Marriott International Class A Add +14.4% 0.05% −0.00
CHRW C.H. Robinson Worldwide Inc. Add +0.5% 0.25% −0.01
UPS United Parcel Service Class B Add +13.6% 0.42% −0.01
SNA Snap-on Inc. Add +1.1% 0.81% −0.01
KMX Carmax Inc. Add +1.9% 0.50% −0.02
NKE Nike Inc. Class B Add +12.0% 0.70% −0.06
WSM Williams-Sonoma Inc. Add +0.3% 0.42% −0.08

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 156$875.9MIVV, VEA, AAPL, IJR, GOOGL
Q1 2026 150$791.9MIVV, VEA, AAPL, IJR, GOOGL
Q4 2025 147$829.5MIVV, VEA, AAPL, IJR, GOOGL
Q3 2025 145$810.6MIVV, VEA, AAPL, IJR, VWO
Q2 2025 140$761.0MIVV, VEA, AAPL, IJR, MSFT
Q1 2025 135$693.8MIVV, VEA, AAPL, IJR, VBK
Q4 2024 131$680.5MIVV, AAPL, VEA, VBK, IJR
Q3 2024 127$709.4MIVV, VEA, AAPL, MSFT, VBK
Q2 2024 122$672.2MIVV, VEA, AAPL, MSFT, VBK
Q1 2024 120$670.4MIVV, VEA, AAPL, MSFT, IJR