Vision Capital Management, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 23, 2025), Vision Capital Management, Inc. reported 145 stock positions worth $810.6 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 10.1% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 8.5%) and Apple (AAPL, 7.4%). Compared with Q2 2025, it opened 9 new positions, sold out of 4, added to 41 and reduced 77. The biggest buy was Apple (AAPL, shares +0%) and the biggest sale Nike Class B (NKE, shares −58%).

Most Recent 13F
Q2 2026
Location
PORTLAND, OR
CIK
0001417889
Portfolio Value
$810.6M (Q3 2025)
SEC Filing
0001417889-25-000005 ↗ filed Oct 23, 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 Q1 2025 Q2 2025: $761.0M Q2 2025 Q3 2025: $810.6M $810.6M Q3 2025 Q4 2025: $829.5M Q4 2025 Q1 2026: $791.9M Q1 2026 Q2 2026: $875.9M Q2 2026

Holdings 145 stocks · $810.6M
IVV iShares Core S&P 500 ETF 10.12% 122,609 $82.1M Reduce -1.2%
VEA Vanguard Ftse Developed ETF 8.54% 1,155,855 $69.3M Add +0.6%
AAPL Apple Inc. 7.37% 234,596 $59.7M Add +0.0%
IJR iShares Core S&P Small-Cap E 5.62% 383,049 $45.5M Add +0.1%
VWO Vanguard Ftse Emerging Marke 3.97% 593,756 $32.2M Add +1.9%
MSFT Microsoft Corp. 3.90% 61,030 $31.6M Add +2.1%
GOOGL Alphabet Inc. Class A 3.75% 125,023 $30.4M Reduce -1.5%
VBK Van Morst SML-Cap Gro-Usd Inc. 3.75% 102,061 $30.4M Reduce -1.6%
IAU iShares Gold Trust 3.44% 383,411 $27.9M Add +1.8%
AMZN Amazon.com Inc. 2.69% 99,306 $21.8M Reduce -3.9%
NVDA Nvidia Corp. 2.50% 108,796 $20.3M Add +3.5%
IDEV iShares Core MSCI Dev MKTS 2.45% 247,466 $19.8M Reduce -0.9%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.29% 166,737 $18.6M Add +2.2%
V Visa Inc. Class A 2.04% 48,505 $16.6M Add +0.9%
SHW The Sherwin-Williams Co. 1.44% 33,766 $11.7M Reduce -1.9%
COST Costco Wholesale Corp. 1.43% 12,529 $11.6M Add +11.4%
IJH iShares Core S&P Midcap ETF 1.36% 169,497 $11.1M Reduce -2.1%
JNJ Johnson & Johnson 1.33% 58,039 $10.8M Reduce -0.2%
SCHF Schwab Intl Equity ETF 1.29% 450,592 $10.5M Reduce -2.6%
BR Broadridge Financial Solutio 1.11% 37,916 $9.0M Reduce -1.9%
UHAL.B U-Haul Holding Co.-Non Voting 1.02% 162,458 $8.3M Reduce -2.1%
AMGN Amgen Inc. 1.01% 29,143 $8.2M Reduce -2.3%
HON Honeywell International Inc. 0.99% 37,984 $8.0M Reduce -1.4%
QCOM Qualcomm Inc. 0.96% 46,726 $7.8M Reduce -2.6%
SBUX Starbucks Corp. 0.95% 90,881 $7.7M Reduce -2.1%
WSO Watsco Inc. 0.92% 18,478 $7.5M Reduce -2.0%
VOO Vanguard S&P 500 ETF 0.87% 11,531 $7.1M Add +0.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.83% 58,684 $6.7M Reduce -1.9%
IQV Iqvia Holdings Inc. 0.81% 34,652 $6.6M Reduce -1.4%
PGR Progressive Corp. 0.74% 24,445 $6.0M Add +0.7%
SNA Snap-on Inc. 0.74% 17,417 $6.0M Reduce -1.0%
SPEM State Street SP PTF Em ETF 0.73% 125,867 $5.9M Reduce -2.6%
CRM Salesforce Inc. 0.73% 24,852 $5.9M Reduce -1.7%
PANW Palo Alto Networks Inc. 0.70% 28,002 $5.7M Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.67% 104,704 $5.4M Reduce -1.7%
ZTS Zoetis Inc. 0.66% 36,565 $5.4M Reduce -1.7%
LLY Eli Lilly & Co. 0.57% 6,024 $4.6M Add +3.3%
NEE Nextera Energy Inc. 0.54% 58,220 $4.4M Reduce -4.9%
IWP iShares Russell Mid-Cap Grow 0.54% 30,767 $4.4M No change
WMS Advanced Drainage Systems Inc. 0.50% 29,190 $4.0M Reduce -2.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.49% 114,970 $4.0M Reduce -4.6%
IEI iShares 3-7 Year Treasury Bo 0.44% 30,011 $3.6M Reduce -1.1%
WSM Williams-Sonoma Inc. 0.43% 17,916 $3.5M Reduce -1.9%
CVS CVS Health Corp. 0.43% 45,851 $3.5M Reduce -1.3%
ESML iShares ESG Aware MSCI USA S 0.40% 72,417 $3.3M Reduce -6.6%
IWM iShares Russell 2000 ETF 0.40% 13,423 $3.2M Reduce -0.5%
CVLT Commvault Systems Inc. 0.40% 17,194 $3.2M Add +437.5%
SCHA Schwab US Small-Cap ETF 0.39% 112,352 $3.1M Reduce -1.5%
ESGD iShares Trust iShares ESG Aw 0.37% 32,680 $3.0M Reduce -3.8%
META Meta Platforms Inc. Class A 0.36% 3,941 $2.9M Add +28.6%
JPM JPMorgan Chase & Co. 0.33% 8,542 $2.7M Add +0.1%
LOW Lowe's Cos Inc. 0.32% 10,402 $2.6M Reduce -6.6%
COF Capital One Financial Corp. 0.32% 12,106 $2.6M Reduce -0.3%
VRTX Vertex Pharmaceuticals Inc. 0.32% 6,566 $2.6M Reduce -4.5%
PINS Pinterest Inc. Class A 0.32% 79,693 $2.6M Reduce -1.5%
AMAT Applied Materials Inc. 0.31% 12,220 $2.5M Reduce -2.8%
NVR NVR Inc. 0.31% 308 $2.5M Reduce -1.0%
IWB iShares Russell 1000 ETF 0.28% 6,159 $2.3M Add +13.5%
CHRW C.H. Robinson Worldwide Inc. 0.28% 16,948 $2.2M Reduce -3.2%
ADBE Adobe Inc. 0.28% 6,323 $2.2M Reduce -38.7%
ESGU iShares ESG Aware MSCI USA 0.26% 14,632 $2.1M Reduce -19.9%
UPS United Parcel Service Class B 0.23% 22,598 $1.9M Reduce -15.5%
NKE Nike Inc. Class B 0.23% 26,243 $1.8M Reduce -58.2%
SCHM Schwab US Mid Cap ETF 0.22% 61,242 $1.8M Reduce -5.9%
SCHX Schwab US Large-Cap ETF 0.22% 67,922 $1.8M Reduce -0.1%
DINO HF Sinclair Corp. 0.22% 34,131 $1.8M Reduce -6.8%
QUAL iShares MSCI USA Quality Fac 0.21% 8,550 $1.7M Reduce -9.8%
USB US Bancorp 0.20% 33,359 $1.6M Reduce -12.3%
AVGO Broadcom Inc. 0.18% 4,533 $1.5M New
GOOG Alphabet Inc. Class C 0.15% 5,159 $1.3M Add +0.3%
TFSL TFS Financial Corp. 0.15% 92,343 $1.2M Reduce -5.7%
KMX Carmax Inc. 0.15% 26,692 $1.2M Reduce -42.4%
VYM Vanguard High DVD Yield ETF 0.14% 8,254 $1.2M No change
ESGE iShares Inc. iShares ESG Awar 0.14% 25,978 $1.1M Reduce -16.1%
VTWO Vanguard Russell 2000 ETF 0.14% 11,248 $1.1M New
VLUE iShares MSCI USA Value Facto 0.13% 8,593 $1.1M No change
SUSC iShares ESG Aware Usd Corpor 0.13% 45,150 $1.1M Reduce -9.7%
HD Home Depot Inc. 0.13% 2,578 $1.0M Add +7.4%
SYY Sysco Corp. 0.12% 11,942 $983K Reduce -5.9%
PYPL PayPal Holdings Inc. 0.12% 14,590 $978K Reduce -8.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.12% 1,958 $939K Add +1.1%
CVX Chevron Corp. 0.11% 5,831 $906K Reduce -1.5%
VTI VG Morningstar TS MKT ETF-US 0.11% 2,745 $901K Reduce -17.0%
ACN Accenture PLC Class A 0.11% 3,508 $865K Reduce -7.1%
IVLU iShares MSCI International V 0.10% 23,305 $827K Reduce -4.3%
VCIT Vanguard Int-Term Corporate 0.10% 9,404 $791K Reduce -1.8%
BRK.B Berkshire Hathaway Inc. Class B 0.10% 1,554 $781K Add +15.9%
ADP Automatic Data Processing 0.10% 2,659 $780K Add +0.2%
WMT Walmart Inc. 0.09% 7,468 $770K Add +1.6%
VBIL Vanguard 0-3M T-Bill ETF 0.09% 10,125 $766K Add +2.9%
FFIV F5 Inc. 0.09% 2,194 $709K Reduce -0.2%
ILCG iShares Morningstar Growth E 0.09% 6,740 $703K No change
TSLA Tesla Inc. 0.08% 1,527 $679K Add +47.5%
WM Waste Management Inc. 0.08% 2,804 $619K Add +0.1%
ORCL Oracle Corp. 0.07% 1,998 $562K Add +0.3%
MOAT Vaneck Morningstar Wide Moat 0.07% 5,453 $540K No change
DFIV Dimensional International Va 0.07% 11,513 $531K Reduce -12.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 760 $506K Reduce -14.2%
MA Mastercard Inc. Class A 0.06% 869 $494K Add +1.2%
DHR Danaher Corp. 0.06% 2,492 $494K Add +10.8%
VB Vanguard Most SM-Cap ETF-Usd 0.06% 1,847 $470K No change
TXN Texas Instruments Inc. 0.06% 2,531 $465K Add +0.0%
IWF iShares Russell 1000 Growth 0.06% 977 $458K Reduce -3.2%
ABBV Abbvie Inc. 0.06% 1,965 $455K Reduce -7.0%
AMD Advanced Micro Devices 0.06% 2,755 $446K Add +25.2%
DVY iShares Select Dividend ETF 0.05% 3,099 $440K No change
CSCO Cisco Systems Inc. 0.05% 6,323 $433K Add +8.8%
PG The Procter & Gamble Co. 0.05% 2,783 $428K Reduce -5.3%
INTC Intel Corp. 0.05% 12,380 $415K Reduce -0.7%
MAR Marriott International Class A 0.05% 1,592 $415K Add +0.5%
KO The Coca-Cola Co. 0.05% 6,217 $412K Add +0.5%
CEG Constellation Energy 0.05% 1,134 $373K No change
CAT Caterpillar Inc. 0.05% 773 $369K Reduce -20.3%
VEU Vanguard Ftse All-World Ex-U 0.04% 5,105 $364K No change
APD Air Products & Chemicals Inc. 0.04% 1,275 $348K No change
MCD McDonald's Corp. 0.04% 1,132 $344K Add +0.2%
CRWD CrowdStrike Holdings Inc. Class A 0.04% 701 $344K Add +0.1%
ECL Ecolab Inc. 0.04% 1,251 $343K Add +0.1%
QQQ Invesco QQQ Trust Series 1 0.04% 559 $335K Reduce -17.7%
DFAT Dimensional US Target Value 0.04% 5,699 $332K No change
PEP Pepsico Inc. 0.04% 2,180 $306K Reduce -4.8%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 3,423 $302K Reduce -17.4%
TRV The Travelers Cos Inc. 0.03% 1,013 $283K Add +1.3%
USMV iShares MSCI USA Min Vol Fac 0.03% 2,908 $277K No change
CL Colgate-Palmolive Co. 0.03% 3,442 $275K Add +0.1%
FSLR First Solar Inc. 0.03% 1,219 $269K Reduce -13.2%
CLX Clorox Company 0.03% 2,179 $269K Add +0.1%
GILD Gilead Sciences Inc. 0.03% 2,342 $260K Reduce -61.0%
IEFA iShares Core MSCI Eafe ETF 0.03% 2,901 $253K New
IYF iShares US Financials ETF 0.03% 1,974 $250K No change
MAS Masco Corp. 0.03% 3,320 $234K No change
BLK BlackRock Inc. 0.03% 199 $232K Reduce -33.2%
SHOP Shopify Inc. Class A 0.03% 1,500 $223K Reduce -25.0%
LMT Lockheed Martin Corp. 0.03% 444 $222K No change
LAMR Lamar Advertising Co. Class A 0.03% 1,800 $220K No change
IBB iShares Biotechnology ETF 0.03% 1,500 $217K New
LH Labcorp Holdings Inc. 0.03% 750 $215K New
AWR American States Water Co. filed as AMER STATES WTR CO 0.03% 2,921 $214K No change
SRE Sempra 0.03% 2,374 $214K New
RTX RTX Corp. 0.03% 1,239 $207K New
FISV Fiserv Inc. 0.03% 1,604 $207K Add +0.1%
AXP American Express Co. 0.03% 618 $205K New
EFA iShares MSCI Eafe ETF 0.03% 2,182 $204K New
AVA Avista Corp. 0.03% 5,357 $203K No change
JCI Johnson Controls Internation 0.02% 1,822 $200K Reduce -5.9%

Portfolio Sells Q2 2025 → Q3 2025
NKE Nike Inc. Class B Reduce -58.2% 0.23% −0.36
AMZN Amazon.com Inc. Reduce -3.9% 2.69% −0.29
KMX Carmax Inc. Reduce -42.4% 0.15% −0.26
ADBE Adobe Inc. Reduce -38.7% 0.28% −0.25
HON Honeywell International Inc. Reduce -1.4% 0.99% −0.19
CRM Salesforce Inc. Reduce -1.7% 0.73% −0.18
WSO Watsco Inc. Reduce -2.0% 0.92% −0.17
SBUX Starbucks Corp. Reduce -2.1% 0.95% −0.17
UHAL.B U-Haul Holding Co.-Non Voting Reduce -2.1% 1.02% −0.17
DIS The Walt Disney Co. Reduce -1.9% 0.83% −0.15
UPS United Parcel Service Class B Reduce -15.5% 0.23% −0.12
BR Broadridge Financial Solutio Reduce -1.9% 1.11% −0.12
SHW The Sherwin-Williams Co. Reduce -1.9% 1.44% −0.11
ZTS Zoetis Inc. Reduce -1.7% 0.66% −0.10
VRTX Vertex Pharmaceuticals Inc. Reduce -4.5% 0.32% −0.08
AMGN Amgen Inc. Reduce -2.3% 1.01% −0.08
PINS Pinterest Inc. Class A Reduce -1.5% 0.32% −0.06
ESGU iShares ESG Aware MSCI USA Reduce -19.9% 0.26% −0.06
GILD Gilead Sciences Inc. Reduce -61.0% 0.03% −0.06
PANW Palo Alto Networks Inc. Reduce -0.4% 0.70% −0.05
SCHF Schwab Intl Equity ETF Reduce -2.6% 1.29% −0.05
IDEV iShares Core MSCI Dev MKTS Reduce -0.9% 2.45% −0.05
SLB SLB Ltd. Reduce -4.6% 0.49% −0.05
IJH iShares Core S&P Midcap ETF Reduce -2.1% 1.36% −0.05
QCOM Qualcomm Inc. Reduce -2.6% 0.96% −0.04
ACN Accenture PLC Class A Reduce -7.1% 0.11% −0.04
UNP Union Pacific Corp. Sold out 0.00% −0.03
PYPL PayPal Holdings Inc. Reduce -8.2% 0.12% −0.03
AFL Aflac Inc. Sold out 0.00% −0.03
IEI iShares 3-7 Year Treasury Bo Reduce -1.1% 0.44% −0.03
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -1.6% 3.75% −0.03
HDV iShares Core High Dividend E Sold out 0.00% −0.03
USB US Bancorp Reduce -12.3% 0.20% −0.03
ESGD iShares Trust iShares ESG Aw Reduce -3.8% 0.37% −0.02
QUAL iShares MSCI USA Quality Fac Reduce -9.8% 0.21% −0.02
COF Capital One Financial Corp. Reduce -0.3% 0.32% −0.02
SUSC iShares ESG Aware Usd Corpor Reduce -9.7% 0.13% −0.02
VTI VG Morningstar TS MKT ETF-US Reduce -17.0% 0.11% −0.02
ESGE iShares Inc. iShares ESG Awar Reduce -16.1% 0.14% −0.02
ESML iShares ESG Aware MSCI USA S Reduce -6.6% 0.40% −0.02
TFSL TFS Financial Corp. Reduce -5.7% 0.15% −0.02
NEE Nextera Energy Inc. Reduce -4.9% 0.54% −0.02
SCHM Schwab US Mid Cap ETF Reduce -5.9% 0.22% −0.02
BLK BlackRock Inc. Reduce -33.2% 0.03% −0.01
AIRJ Airjoule Technologies Corp. Sold out 0.00% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -14.2% 0.06% −0.01
DFIV Dimensional International Va Reduce -12.9% 0.07% −0.01
PG The Procter & Gamble Co. Reduce -5.3% 0.05% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -17.7% 0.04% −0.01
EL Estee Lauder Companies Class A Reduce -17.4% 0.04% −0.01

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +0.0% 7.37% +1.05
IAU iShares Gold Trust Add +1.8% 3.44% +0.36
CVLT Commvault Systems Inc. Add +437.5% 0.40% +0.33
NVDA Nvidia Corp. Add +3.5% 2.50% +0.32
AVGO Broadcom Inc. New 0.18% +0.18
VWO Vanguard Ftse Emerging Marke Add +1.9% 3.97% +0.18
VTWO Vanguard Russell 2000 ETF New 0.14% +0.14
IJR iShares Core S&P Small-Cap E Add +0.1% 5.62% +0.12
META Meta Platforms Inc. Class A Add +28.6% 0.36% +0.06
TSLA Tesla Inc. Add +47.5% 0.08% +0.04
IWB iShares Russell 1000 ETF Add +13.5% 0.28% +0.04
GOOG Alphabet Inc. Class C Add +0.3% 0.15% +0.04
IEFA iShares Core MSCI Eafe ETF New 0.03% +0.03
IBB iShares Biotechnology ETF New 0.03% +0.03
LH Labcorp Holdings Inc. New 0.03% +0.03
SRE Sempra New 0.03% +0.03
RTX RTX Corp. New 0.03% +0.03
AXP American Express Co. New 0.03% +0.03
EFA iShares MSCI Eafe ETF New 0.03% +0.03
AMD Advanced Micro Devices Add +25.2% 0.06% +0.01
HD Home Depot Inc. Add +7.4% 0.13% +0.01
ORCL Oracle Corp. Add +0.3% 0.07% +0.01
VOO Vanguard S&P 500 ETF Add +0.1% 0.87% +0.01
BRK.B Berkshire Hathaway Inc. Class B Add +15.9% 0.10% +0.01
JPM JPMorgan Chase & Co. Add +0.1% 0.33% +0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +1.1% 0.12% +0.00
DHR Danaher Corp. Add +10.8% 0.06% +0.00
WMT Walmart Inc. Add +1.6% 0.09% +0.00
CSCO Cisco Systems Inc. Add +8.8% 0.05% +0.00
TRV The Travelers Cos Inc. Add +1.3% 0.03% −0.00
MCD McDonald's Corp. Add +0.2% 0.04% −0.00
CLX Clorox Company Add +0.1% 0.03% −0.00
ECL Ecolab Inc. Add +0.1% 0.04% −0.00
MA Mastercard Inc. Class A Add +1.2% 0.06% −0.00
VBIL Vanguard 0-3M T-Bill ETF Add +2.9% 0.09% −0.00
CRWD CrowdStrike Holdings Inc. Class A Add +0.1% 0.04% −0.00
MSFT Microsoft Corp. Add +2.1% 3.90% −0.01
MAR Marriott International Class A Add +0.5% 0.05% −0.01
KO The Coca-Cola Co. Add +0.5% 0.05% −0.01
CL Colgate-Palmolive Co. Add +0.1% 0.03% −0.01
WM Waste Management Inc. Add +0.1% 0.08% −0.01
FISV Fiserv Inc. Add +0.1% 0.03% −0.01
ADP Automatic Data Processing Add +0.2% 0.10% −0.01
TXN Texas Instruments Inc. Add +0.0% 0.06% −0.01
LLY Eli Lilly & Co. Add +3.3% 0.57% −0.03
COST Costco Wholesale Corp. Add +11.4% 1.43% −0.03
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +2.2% 2.29% −0.06
VEA Vanguard Ftse Developed ETF Add +0.6% 8.54% −0.06
PGR Progressive Corp. Add +0.7% 0.74% −0.11
V Visa Inc. Class A Add +0.9% 2.04% −0.20

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