Vision Capital Management, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Vision Capital Management, Inc. reported 147 stock positions worth $829.5 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, 8.7%) and Apple (AAPL, 7.5%). Compared with Q3 2025, it opened 5 new positions, sold out of 3, added to 32 and reduced 72. The biggest buy was a new position in SS SPDR P S&P 500 Value ETF (SPYV) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −6%).

Most Recent 13F
Q2 2026
Location
PORTLAND, OR
CIK
0001417889
Portfolio Value
$829.5M (Q4 2025)
SEC Filing
0001417889-26-000001 ↗ filed Jan 27, 2026

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 Q3 2025 Q4 2025: $829.5M $829.5M Q4 2025 Q1 2026: $791.9M Q1 2026 Q2 2026: $875.9M Q2 2026

Holdings 147 stocks · $829.5M
IVV iShares Core S&P 500 ETF 9.49% 114,893 $78.7M Reduce -6.3%
VEA Vanguard Ftse Developed ETF 8.75% 1,161,767 $72.6M Add +0.5%
AAPL Apple Inc. 7.47% 227,918 $62.0M Reduce -2.9%
IJR iShares Core S&P Small-Cap E 5.94% 409,694 $49.2M Add +7.0%
GOOGL Alphabet Inc. Class A 4.55% 120,506 $37.7M Reduce -3.6%
VWO Vanguard Ftse Emerging Marke 3.99% 616,425 $33.1M Add +3.8%
IAU iShares Gold Trust 3.74% 382,198 $31.0M Reduce -0.3%
MSFT Microsoft Corp. 3.53% 60,564 $29.3M Reduce -0.8%
VBK Van Morst SML-Cap Gro-Usd Inc. 3.38% 92,747 $28.0M Reduce -9.1%
AMZN Amazon.com Inc. 2.73% 98,256 $22.7M Reduce -1.1%
IDEV iShares Core MSCI Dev MKTS 2.42% 243,033 $20.0M Reduce -1.8%
NVDA Nvidia Corp. 2.41% 107,294 $20.0M Reduce -1.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.27% 171,116 $18.9M Add +2.6%
V Visa Inc. Class A 2.04% 48,360 $17.0M Reduce -0.3%
JNJ Johnson & Johnson 1.41% 56,564 $11.7M Reduce -2.5%
COST Costco Wholesale Corp. 1.39% 13,337 $11.5M Add +6.5%
SHW The Sherwin-Williams Co. 1.30% 33,406 $10.8M Reduce -1.1%
IJH iShares Core S&P Midcap ETF 1.29% 162,482 $10.7M Reduce -4.1%
SCHF Schwab Intl Equity ETF 1.27% 439,109 $10.6M Reduce -2.5%
AMGN Amgen Inc. 1.14% 28,785 $9.4M Reduce -1.2%
BR Broadridge Financial Solutio 1.02% 37,731 $8.4M Reduce -0.5%
QCOM Qualcomm Inc. 0.94% 45,376 $7.8M Reduce -2.9%
SBUX Starbucks Corp. 0.90% 88,990 $7.5M Reduce -2.1%
UHAL.B U-Haul Holding Co.-Non Voting 0.88% 156,939 $7.3M Reduce -3.4%
HON Honeywell International Inc. 0.88% 37,432 $7.3M Reduce -1.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.79% 57,813 $6.6M Reduce -1.5%
CRM Salesforce Inc. 0.77% 24,216 $6.4M Reduce -2.6%
LLY Eli Lilly & Co. 0.77% 5,924 $6.4M Reduce -1.7%
IQV Iqvia Holdings Inc. 0.76% 27,993 $6.3M Reduce -19.2%
SPYV SS SPDR P S&P 500 Value ETF 0.75% 108,840 $6.2M New
SNA Snap-on Inc. 0.72% 17,359 $6.0M Reduce -0.3%
WSO Watsco Inc. 0.71% 17,464 $5.9M Reduce -5.5%
SPEM State Street SP PTF Em ETF 0.70% 123,981 $5.8M Reduce -1.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.70% 104,902 $5.8M Add +0.2%
PGR Progressive Corp. 0.69% 25,264 $5.8M Add +3.4%
VOO Vanguard S&P 500 ETF 0.64% 8,399 $5.3M Reduce -27.2%
PANW Palo Alto Networks Inc. 0.62% 27,952 $5.1M Reduce -0.2%
SLB SLB Ltd. filed as SLB LIMITED 0.57% 122,408 $4.7M Add +6.5%
NEE Nextera Energy Inc. 0.56% 57,593 $4.6M Reduce -1.1%
ZTS Zoetis Inc. 0.51% 33,767 $4.2M Reduce -7.7%
IWP iShares Russell Mid-Cap Grow 0.51% 30,767 $4.2M No change
WMS Advanced Drainage Systems Inc. 0.51% 29,024 $4.2M Reduce -0.6%
UPS United Parcel Service Class B 0.47% 39,344 $3.9M Add +74.1%
CVS CVS Health Corp. 0.46% 47,739 $3.8M Add +4.1%
IEI iShares 3-7 Year Treasury Bo 0.43% 29,741 $3.5M Reduce -0.9%
ESML iShares ESG Aware MSCI USA S 0.40% 72,078 $3.3M Reduce -0.5%
IWM iShares Russell 2000 ETF 0.40% 13,408 $3.3M Reduce -0.1%
ESGD iShares Trust iShares ESG Aw 0.39% 34,284 $3.3M Add +4.9%
SCHA Schwab US Small-Cap ETF 0.38% 109,740 $3.1M Reduce -2.3%
VRTX Vertex Pharmaceuticals Inc. 0.36% 6,595 $3.0M Add +0.4%
COF Capital One Financial Corp. 0.35% 11,892 $2.9M Reduce -1.8%
WSM Williams-Sonoma Inc. 0.34% 15,662 $2.8M Reduce -12.6%
JPM JPMorgan Chase & Co. 0.33% 8,486 $2.7M Reduce -0.7%
META Meta Platforms Inc. Class A 0.32% 4,008 $2.6M Add +1.7%
CVLT Commvault Systems Inc. 0.30% 20,147 $2.5M Add +17.2%
VTWO Vanguard Russell 2000 ETF 0.30% 25,337 $2.5M Add +125.3%
CHRW C.H. Robinson Worldwide Inc. 0.30% 15,438 $2.5M Reduce -8.9%
AMAT Applied Materials Inc. 0.30% 9,616 $2.5M Reduce -21.3%
LOW Lowe's Cos Inc. 0.30% 10,191 $2.5M Reduce -2.0%
IWB iShares Russell 1000 ETF 0.28% 6,146 $2.3M Reduce -0.2%
NVR NVR Inc. 0.27% 308 $2.2M No change
ESGU iShares ESG Aware MSCI USA 0.26% 14,642 $2.2M Add +0.1%
PINS Pinterest Inc. Class A 0.24% 77,074 $2.0M Reduce -3.3%
ADBE Adobe Inc. 0.24% 5,680 $2.0M Reduce -10.2%
SCHX Schwab US Large-Cap ETF 0.22% 66,644 $1.8M Reduce -1.9%
SCHM Schwab US Mid Cap ETF 0.22% 59,514 $1.8M Reduce -2.8%
NKE Nike Inc. Class B 0.21% 27,627 $1.8M Add +5.3%
QUAL iShares MSCI USA Quality Fac 0.20% 8,542 $1.7M Reduce -0.1%
USB US Bancorp 0.20% 31,779 $1.7M Reduce -4.7%
AVGO Broadcom Inc. 0.20% 4,825 $1.7M Add +6.4%
DINO HF Sinclair Corp. 0.19% 33,810 $1.6M Reduce -0.9%
GOOG Alphabet Inc. Class C 0.17% 4,402 $1.4M Reduce -14.7%
KMX Carmax Inc. 0.15% 31,644 $1.2M Add +18.6%
TFSL TFS Financial Corp. 0.15% 90,366 $1.2M Reduce -2.1%
VLUE iShares MSCI USA Value Facto 0.14% 8,583 $1.2M Reduce -0.1%
VYM Vanguard High DVD Yield ETF 0.14% 8,168 $1.2M Reduce -1.0%
ESGE iShares Inc. iShares ESG Awar 0.14% 26,286 $1.2M Add +1.2%
SUSC iShares ESG Aware Usd Corpor 0.13% 46,140 $1.1M Add +2.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.12% 1,979 $965K Add +1.1%
VTI VG Morningstar TS MKT ETF-US 0.11% 2,745 $920K No change
ACN Accenture PLC Class A 0.11% 3,406 $914K Reduce -2.9%
CVX Chevron Corp. 0.11% 5,831 $889K No change
HD Home Depot Inc. 0.11% 2,578 $887K No change
IVLU iShares MSCI International V 0.11% 23,305 $887K No change
SYY Sysco Corp. 0.10% 11,376 $838K Reduce -4.7%
WMT Walmart Inc. 0.10% 7,468 $832K No change
PYPL PayPal Holdings Inc. 0.10% 13,544 $791K Reduce -7.2%
VBIL Vanguard 0-3M T-Bill ETF 0.10% 10,481 $791K Add +3.5%
BRK.B Berkshire Hathaway Inc. Class B 0.09% 1,554 $781K No change
ILCG iShares Morningstar Growth E 0.08% 6,740 $701K No change
VCIT Vanguard Int-Term Corporate 0.08% 7,850 $657K Reduce -16.5%
ADP Automatic Data Processing 0.08% 2,551 $656K Reduce -4.1%
TSLA Tesla Inc. 0.08% 1,445 $650K Reduce -5.4%
WM Waste Management Inc. 0.07% 2,804 $616K No change
DFIV Dimensional International Va 0.07% 11,513 $574K No change
AMD Advanced Micro Devices 0.07% 2,663 $570K Reduce -3.3%
DHR Danaher Corp. 0.07% 2,491 $570K Reduce -0.0%
MOAT Vaneck Morningstar Wide Moat 0.07% 5,453 $565K No change
FFIV F5 Inc. 0.07% 2,194 $560K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 749 $511K Reduce -1.4%
INTC Intel Corp. 0.06% 13,449 $496K Add +8.6%
MA Mastercard Inc. Class A 0.06% 869 $496K No change
MAR Marriott International Class A 0.06% 1,592 $494K No change
CSCO Cisco Systems Inc. 0.06% 6,333 $488K Add +0.2%
VB Vanguard Most SM-Cap ETF-Usd 0.06% 1,847 $476K No change
IWF iShares Russell 1000 Growth 0.06% 977 $462K No change
ABBV Abbvie Inc. 0.05% 1,965 $449K No change
CAT Caterpillar Inc. 0.05% 773 $443K No change
TXN Texas Instruments Inc. 0.05% 2,540 $441K Add +0.4%
DVY iShares Select Dividend ETF 0.05% 3,099 $437K No change
KO The Coca-Cola Co. 0.05% 6,217 $435K No change
CEG Constellation Energy 0.05% 1,134 $401K No change
PG The Procter & Gamble Co. 0.05% 2,783 $399K No change
VEU Vanguard Ftse All-World Ex-U 0.05% 5,105 $376K No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 3,383 $354K Reduce -1.2%
MCD McDonald's Corp. 0.04% 1,130 $345K Reduce -0.2%
DFAT Dimensional US Target Value 0.04% 5,699 $339K No change
CRWD CrowdStrike Holdings Inc. Class A 0.04% 701 $329K No change
ECL Ecolab Inc. 0.04% 1,251 $328K No change
PEP Pepsico Inc. 0.04% 2,204 $316K Add +1.1%
APD Air Products & Chemicals Inc. 0.04% 1,276 $315K Add +0.1%
QQQ Invesco QQQ Trust Series 1 0.04% 504 $309K Reduce -9.8%
FSLR First Solar Inc. 0.04% 1,168 $305K Reduce -4.2%
ORCL Oracle Corp. 0.04% 1,548 $302K Reduce -22.5%
TRV The Travelers Cos Inc. 0.04% 1,013 $294K No change
USMV iShares MSCI USA Min Vol Fac 0.03% 2,908 $274K No change
CL Colgate-Palmolive Co. 0.03% 3,438 $272K Reduce -0.1%
IEFA iShares Core MSCI Eafe ETF 0.03% 3,015 $270K Add +3.9%
IYF iShares US Financials ETF 0.03% 1,974 $255K No change
IBB iShares Biotechnology ETF 0.03% 1,500 $253K No change
GILD Gilead Sciences Inc. 0.03% 2,027 $249K Reduce -13.4%
ISRG Intuitive Surgical Inc. 0.03% 435 $246K New
SHOP Shopify Inc. Class A 0.03% 1,500 $241K No change
AXP American Express Co. 0.03% 631 $233K Add +2.1%
LAMR Lamar Advertising Co. Class A 0.03% 1,800 $228K No change
RTX RTX Corp. 0.03% 1,240 $227K Add +0.1%
CLX Clorox Company 0.03% 2,176 $219K Reduce -0.1%
JCI Johnson Controls Internation 0.03% 1,822 $218K No change
LMT Lockheed Martin Corp. 0.03% 445 $215K Add +0.2%
BLK BlackRock Inc. 0.03% 198 $212K Reduce -0.5%
AWR American States Water Co. filed as AMER STATES WTR CO 0.03% 2,921 $212K No change
MAS Masco Corp. 0.03% 3,320 $211K No change
SRE Sempra 0.03% 2,374 $210K No change
AVA Avista Corp. 0.02% 5,357 $206K No change
XOM Exxon Mobil Corp. 0.02% 1,700 $205K New
IWD iShares Russell 1000 Value E 0.02% 958 $202K New
KNCT Invesco Next Gen Connectivit 0.02% 1,500 $201K New

Portfolio Sells Q3 2025 → Q4 2025
IVV iShares Core S&P 500 ETF Reduce -6.3% 9.49% −0.64
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -9.1% 3.38% −0.37
MSFT Microsoft Corp. Reduce -0.8% 3.53% −0.37
VOO Vanguard S&P 500 ETF Reduce -27.2% 0.64% −0.24
WSO Watsco Inc. Reduce -5.5% 0.71% −0.21
ZTS Zoetis Inc. Reduce -7.7% 0.51% −0.15
SHW The Sherwin-Williams Co. Reduce -1.1% 1.30% −0.14
UHAL.B U-Haul Holding Co.-Non Voting Reduce -3.4% 0.88% −0.14
HON Honeywell International Inc. Reduce -1.4% 0.88% −0.11
BR Broadridge Financial Solutio Reduce -0.5% 1.02% −0.10
WSM Williams-Sonoma Inc. Reduce -12.6% 0.34% −0.09
NVDA Nvidia Corp. Reduce -1.4% 2.41% −0.09
PANW Palo Alto Networks Inc. Reduce -0.2% 0.62% −0.08
PINS Pinterest Inc. Class A Reduce -3.3% 0.24% −0.08
IJH iShares Core S&P Midcap ETF Reduce -4.1% 1.29% −0.07
IQV Iqvia Holdings Inc. Reduce -19.2% 0.76% −0.05
SBUX Starbucks Corp. Reduce -2.1% 0.90% −0.05
DIS The Walt Disney Co. Reduce -1.5% 0.79% −0.04
ADBE Adobe Inc. Reduce -10.2% 0.24% −0.04
ORCL Oracle Corp. Reduce -22.5% 0.04% −0.03
DINO HF Sinclair Corp. Reduce -0.9% 0.19% −0.03
IDEV iShares Core MSCI Dev MKTS Reduce -1.8% 2.42% −0.03
SPEM State Street SP PTF Em ETF Reduce -1.5% 0.70% −0.03
LH Labcorp Holdings Inc. Sold out 0.00% −0.03
LOW Lowe's Cos Inc. Reduce -2.0% 0.30% −0.03
FISV Fiserv Inc. Sold out 0.00% −0.03
PYPL PayPal Holdings Inc. Reduce -7.2% 0.10% −0.03
EFA iShares MSCI Eafe ETF Sold out 0.00% −0.03
SNA Snap-on Inc. Reduce -0.3% 0.72% −0.02
QCOM Qualcomm Inc. Reduce -2.9% 0.94% −0.02
SCHF Schwab Intl Equity ETF Reduce -2.5% 1.27% −0.02
SYY Sysco Corp. Reduce -4.7% 0.10% −0.02
VCIT Vanguard Int-Term Corporate Reduce -16.5% 0.08% −0.02
ADP Automatic Data Processing Reduce -4.1% 0.08% −0.02
IEI iShares 3-7 Year Treasury Bo Reduce -0.9% 0.43% −0.01
AMAT Applied Materials Inc. Reduce -21.3% 0.30% −0.01
SCHA Schwab US Small-Cap ETF Reduce -2.3% 0.38% −0.01
SCHM Schwab US Mid Cap ETF Reduce -2.8% 0.22% −0.01
CLX Clorox Company Reduce -0.1% 0.03% −0.01
TSLA Tesla Inc. Reduce -5.4% 0.08% −0.01
SCHX Schwab US Large-Cap ETF Reduce -1.9% 0.22% −0.00
TFSL TFS Financial Corp. Reduce -2.1% 0.15% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -9.8% 0.04% −0.00
ESML iShares ESG Aware MSCI USA S Reduce -0.5% 0.40% −0.00
BLK BlackRock Inc. Reduce -0.5% 0.03% −0.00
IWM iShares Russell 2000 ETF Reduce -0.1% 0.40% −0.00
JPM JPMorgan Chase & Co. Reduce -0.7% 0.33% −0.00
VYM Vanguard High DVD Yield ETF Reduce -1.0% 0.14% −0.00
GILD Gilead Sciences Inc. Reduce -13.4% 0.03% −0.00
CL Colgate-Palmolive Co. Reduce -0.1% 0.03% −0.00

Portfolio Buys Q3 2025 → Q4 2025
SPYV SS SPDR P S&P 500 Value ETF New 0.75% +0.75
IJR iShares Core S&P Small-Cap E Add +7.0% 5.94% +0.32
UPS United Parcel Service Class B Add +74.1% 0.47% +0.24
VEA Vanguard Ftse Developed ETF Add +0.5% 8.75% +0.21
VTWO Vanguard Russell 2000 ETF Add +125.3% 0.30% +0.17
SLB SLB Ltd. Add +6.5% 0.57% +0.08
VRTX Vertex Pharmaceuticals Inc. Add +0.4% 0.36% +0.04
CVS CVS Health Corp. Add +4.1% 0.46% +0.03
ISRG Intuitive Surgical Inc. New 0.03% +0.03
BAC Bank of America Corp. Add +0.2% 0.70% +0.03
VWO Vanguard Ftse Emerging Marke Add +3.8% 3.99% +0.03
XOM Exxon Mobil Corp. New 0.02% +0.02
IWD iShares Russell 1000 Value E New 0.02% +0.02
KNCT Invesco Next Gen Connectivit New 0.02% +0.02
ESGD iShares Trust iShares ESG Aw Add +4.9% 0.39% +0.02
AVGO Broadcom Inc. Add +6.4% 0.20% +0.02
INTC Intel Corp. Add +8.6% 0.06% +0.01
CSCO Cisco Systems Inc. Add +0.2% 0.06% +0.01
AXP American Express Co. Add +2.1% 0.03% +0.00
RTX RTX Corp. Add +0.1% 0.03% +0.00
IEFA iShares Core MSCI Eafe ETF Add +3.9% 0.03% +0.00
VBIL Vanguard 0-3M T-Bill ETF Add +3.5% 0.10% +0.00
ESGE iShares Inc. iShares ESG Awar Add +1.2% 0.14% +0.00
VUG Vanguard Mrngstar GR ETF-Sui Add +1.1% 0.12% +0.00
PEP Pepsico Inc. Add +1.1% 0.04% +0.00
ESGU iShares ESG Aware MSCI USA Add +0.1% 0.26% +0.00
KMX Carmax Inc. Add +18.6% 0.15% −0.00
SUSC iShares ESG Aware Usd Corpor Add +2.2% 0.13% −0.00
LMT Lockheed Martin Corp. Add +0.2% 0.03% −0.00
TXN Texas Instruments Inc. Add +0.4% 0.05% −0.00
APD Air Products & Chemicals Inc. Add +0.1% 0.04% −0.00
NKE Nike Inc. Class B Add +5.3% 0.21% −0.01
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +2.6% 2.27% −0.02
META Meta Platforms Inc. Class A Add +1.7% 0.32% −0.04
COST Costco Wholesale Corp. Add +6.5% 1.39% −0.04
PGR Progressive Corp. Add +3.4% 0.69% −0.05
CVLT Commvault Systems Inc. Add +17.2% 0.30% −0.10

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