Washington Capital Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), Washington Capital Management, Inc. reported 114 stock positions worth $139.8 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 19.4% of the portfolio, followed by SS SPDR Dow Jones Indus Avg (DIA, 7.1%) and SS SPDR S&P 500 ETF Trust-US (SPY, 6.5%). Compared with Q2 2025, it opened 17 new positions, sold out of 16, added to 17 and reduced 39. The biggest buy was a new position in Becton Dickinson and (BDX) and the biggest sale an exit from Centene (CNC).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0000928566
- Portfolio Value
- $139.8M (Q3 2025)
- SEC Filing
- 0000928566-25-000002 ↗ filed Oct 28, 2025
Holdings Value
Holdings 114 stocks · $139.8M
| VTI VG Morningstar TS MKT ETF-US | 19.39% | 82,583 | $27.1M | Reduce -2.6% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 7.13% | 21,499 | $10.0M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.52% | 13,671 | $9.1M | No change |
| BSV Vanguard Short-Term Bond ETF | 5.00% | 88,630 | $7.0M | No change |
| IGSB iShares 1-5Y Inv Grade Corp. | 2.25% | 59,418 | $3.2M | No change |
| AEM Agnico Eagle Mines Ltd. | 2.14% | 17,720 | $3.0M | Reduce -10.4% |
| JPM JPMorgan Chase & Co. | 2.04% | 9,045 | $2.9M | Reduce -2.5% |
| ACWX iShares MSCI Acwi Ex US ETF | 1.76% | 37,860 | $2.5M | No change |
| GOOG Alphabet Inc. Class C | 1.59% | 9,100 | $2.2M | No change |
| CIEN Ciena Corp. | 1.42% | 13,660 | $2.0M | Reduce -15.8% |
| PNC PNC Financial Services Group | 1.21% | 8,430 | $1.7M | Reduce -2.8% |
| IWM iShares Russell 2000 ETF | 1.20% | 6,939 | $1.7M | Add +40.5% |
| KEY Keycorp | 1.04% | 77,510 | $1.4M | Reduce -2.5% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.02% | 17,925 | $1.4M | Reduce -1.8% |
| VEU Vanguard Ftse All-World Ex-U | 1.00% | 19,570 | $1.4M | Reduce -0.1% |
| EA Electronic Arts Inc. | 1.00% | 6,910 | $1.4M | Reduce -3.1% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.98% | 39,660 | $1.4M | Add +6.7% |
| LH Labcorp Holdings Inc. | 0.97% | 4,730 | $1.4M | Reduce -3.0% |
| EMR Emerson Electric Co. | 0.96% | 10,190 | $1.3M | Reduce -9.8% |
| PHM Pultegroup Inc. | 0.95% | 10,000 | $1.3M | No change |
| APTV Aptiv PLC | 0.89% | 14,470 | $1.2M | Add +9.0% |
| HAL Halliburton Co. | 0.89% | 50,420 | $1.2M | Reduce -3.1% |
| MCHP Microchip Technology Inc. | 0.88% | 19,135 | $1.2M | Reduce -9.5% |
| CSCO Cisco Systems Inc. | 0.87% | 17,810 | $1.2M | Reduce -5.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.84% | 22,895 | $1.2M | Reduce -6.8% |
| NSC Norfolk Southern Corp. | 0.82% | 3,825 | $1.1M | Reduce -3.9% |
| HOLX Hologic Inc. | 0.82% | 16,900 | $1.1M | Reduce -2.6% |
| MOH Molina Healthcare Inc. | 0.79% | 5,805 | $1.1M | Add +213.8% |
| SBAC SBA Communications Corp. | 0.77% | 5,560 | $1.1M | Reduce -3.3% |
| BDX Becton Dickinson and Co. | 0.70% | 5,245 | $982K | New |
| FTS Fortis Inc. | 0.68% | 18,815 | $955K | No change |
| VOO Vanguard S&P 500 ETF | 0.68% | 1,542 | $944K | Reduce -3.2% |
| ITT Itt Inc. | 0.66% | 5,180 | $926K | Reduce -1.6% |
| GEHC GE Healthcare Technology | 0.59% | 10,900 | $819K | No change |
| MDB Mongodb Inc. | 0.58% | 2,600 | $807K | Reduce -23.5% |
| MKSI MKS Inc. | 0.57% | 6,400 | $792K | Reduce -13.5% |
| LEVI Levi Strauss & Co. Class A | 0.56% | 33,700 | $785K | Reduce -14.3% |
| KR Kroger Co. | 0.56% | 11,550 | $779K | Reduce -0.9% |
| KEX Kirby Corp. | 0.56% | 9,325 | $778K | Add +63.3% |
| TFC Truist Financial Corp. | 0.56% | 17,000 | $777K | Add +41.7% |
| MRK Merck & Co. Inc. | 0.54% | 9,033 | $758K | Reduce -3.7% |
| MMS Maximus Inc. | 0.52% | 8,000 | $731K | No change |
| NBIX Neurocrine Biosciences Inc. | 0.52% | 5,200 | $730K | Reduce -16.1% |
| MRVL Marvell Technology Inc. | 0.51% | 8,500 | $715K | Reduce -11.5% |
| ASO Academy Sports & Outdoors Inc. | 0.50% | 14,100 | $705K | No change |
| ORCL Oracle Corp. | 0.50% | 2,500 | $703K | No change |
| CTRA Coterra Energy Inc. | 0.50% | 29,400 | $695K | Add +22.5% |
| CAH Cardinal Health Inc. | 0.49% | 4,350 | $683K | No change |
| NXPI NXP Semiconductors NV | 0.49% | 2,980 | $679K | Reduce -5.7% |
| EXPE Expedia Group Inc. | 0.47% | 3,100 | $663K | Add +24.0% |
| DG Dollar General Corp. | 0.47% | 6,400 | $661K | No change |
| HUM Humana Inc. | 0.47% | 2,540 | $661K | No change |
| BILL Bill Holdings Inc. | 0.47% | 12,300 | $652K | No change |
| LHX L3HARRIS Technologies Inc. | 0.46% | 2,100 | $641K | Reduce -4.5% |
| DIOD Diodes Inc. | 0.44% | 11,600 | $617K | Add +23.4% |
| LMT Lockheed Martin Corp. | 0.44% | 1,235 | $617K | Reduce -6.4% |
| MDT Medtronic PLC | 0.44% | 6,455 | $615K | Reduce -7.2% |
| NDSN Nordson Corp. | 0.44% | 2,700 | $613K | No change |
| GTLB Gitlab Inc. Class A | 0.44% | 13,500 | $609K | No change |
| BAH Booz Allen Hamilton Holdings | 0.43% | 5,950 | $595K | New |
| TKR Timken Co. | 0.42% | 7,800 | $586K | Add +27.9% |
| BLD Topbuild Corp. | 0.42% | 1,500 | $586K | Add +20.0% |
| EME Emcor Group Inc. | 0.42% | 900 | $585K | Reduce -33.3% |
| XOM Exxon Mobil Corp. | 0.42% | 5,160 | $582K | Reduce -8.8% |
| FROG Jfrog Ltd. | 0.41% | 12,100 | $573K | No change |
| VRT Vertiv Holdings Co. Class A | 0.41% | 3,795 | $573K | No change |
| DUK Duke Energy Corp. | 0.41% | 4,595 | $569K | Reduce -6.8% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.40% | 4,200 | $564K | No change |
| WCC Wesco International Inc. | 0.39% | 2,600 | $550K | New |
| SOLV Solventum Corp. | 0.39% | 7,500 | $548K | No change |
| MUSA Murphy USA Inc. | 0.39% | 1,400 | $544K | Add +75.0% |
| TGT Target Corp. | 0.38% | 5,975 | $536K | Add +17.4% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.37% | 6,200 | $520K | New |
| GOOGL Alphabet Inc. Class A | 0.37% | 2,130 | $518K | Reduce -5.3% |
| HUBB Hubbell Inc. | 0.37% | 1,200 | $516K | No change |
| VOYA Voya Financial Inc. | 0.37% | 6,900 | $516K | No change |
| CSX CSX Corp. | 0.36% | 14,200 | $504K | No change |
| VUSB Vanguard Ultra Short Bond Et | 0.36% | 10,000 | $500K | No change |
| CFLT Confluent Inc. Class A | 0.34% | 24,000 | $475K | No change |
| COP Conocophillips | 0.34% | 5,000 | $473K | No change |
| VGSH Vanguard Short-Term Treasury | 0.34% | 8,000 | $471K | No change |
| CFR Cullen/Frost Bankers Inc. | 0.34% | 3,700 | $469K | No change |
| HUBS HubSpot Inc. | 0.33% | 1,000 | $468K | New |
| C Citigroup Inc. | 0.33% | 4,600 | $467K | Reduce -30.3% |
| FELE Franklin Electric Co. Inc. | 0.33% | 4,900 | $466K | New |
| GMED Globus Medical Inc. Class A | 0.33% | 8,100 | $464K | Add +42.1% |
| CPNG Coupang Inc. | 0.32% | 13,900 | $448K | No change |
| FITB Fifth Third Bancorp | 0.32% | 10,000 | $446K | No change |
| UNH Unitedhealth Group Inc. | 0.31% | 1,275 | $440K | Reduce -5.9% |
| WH Wyndham Hotels & Resorts Inc. | 0.31% | 5,500 | $439K | New |
| FTV Fortive Corp. | 0.31% | 8,730 | $428K | New |
| VIOG Vanguard S&P SM Cap 600 GRW | 0.30% | 3,500 | $426K | No change |
| CGNX Cognex Corp. | 0.29% | 9,000 | $408K | New |
| ZTS Zoetis Inc. | 0.29% | 2,770 | $405K | New |
| NVCR Novocure Ltd. | 0.29% | 31,000 | $401K | Add +47.6% |
| CNH CNH Industrial NV | 0.29% | 36,890 | $400K | Reduce -58.8% |
| STE Steris PLC | 0.28% | 1,600 | $396K | New |
| IT Gartner Inc. | 0.28% | 1,500 | $394K | New |
| VMI Valmont Industries | 0.28% | 1,000 | $388K | No change |
| RGEN Repligen Corp. | 0.27% | 2,800 | $374K | New |
Other holdings (3): bonds, preferreds, convertibles and warrants · $372K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 200,000 | $190K | No change |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 100,000 | $94K | No change |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 100,000 | $88K | No change |
Total filed on the 13F, all lines: $140.2M.
Portfolio Sells Q2 2025 → Q3 2025
| CNC Centene Corp. | Sold out | 0.00% | −0.83 |
| STM Stmicroelectronics NV-NY SHS | Sold out | 0.00% | −0.80 |
| BRKR Bruker Corp. | Sold out | 0.00% | −0.68 |
| JCI Johnson Controls Internation | Sold out | 0.00% | −0.66 |
| CNH CNH Industrial NV | Reduce -58.8% | 0.29% | −0.58 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.52 |
| INGR Ingredion Inc. | Sold out | 0.00% | −0.50 |
| DV Doubleverify Holdings Inc. | Sold out | 0.00% | −0.49 |
| PATH Uipath Inc. Class A | Sold out | 0.00% | −0.48 |
| CCK Crown Holdings Inc. | Sold out | 0.00% | −0.47 |
| WRB WR Berkley Corp. | Sold out | 0.00% | −0.42 |
| CPB The Campbell's Company | Sold out | 0.00% | −0.40 |
| S Sentinelone Inc. Class A | Sold out | 0.00% | −0.39 |
| KNX Knight-Swift Transportation | Sold out | 0.00% | −0.35 |
| TRMB Trimble Inc. | Sold out | 0.00% | −0.29 |
| VC Visteon Corp. | Sold out | 0.00% | −0.26 |
| SBAC SBA Communications Corp. | Reduce -3.3% | 0.77% | −0.24 |
| MCHP Microchip Technology Inc. | Reduce -9.5% | 0.88% | −0.23 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.19 |
| EMR Emerson Electric Co. | Reduce -9.8% | 0.96% | −0.17 |
| EME Emcor Group Inc. | Reduce -33.3% | 0.42% | −0.12 |
| CSCO Cisco Systems Inc. | Reduce -5.1% | 0.87% | −0.10 |
| C Citigroup Inc. | Reduce -30.3% | 0.33% | −0.08 |
| KR Kroger Co. | Reduce -0.9% | 0.56% | −0.07 |
| NBIX Neurocrine Biosciences Inc. | Reduce -16.1% | 0.52% | −0.06 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -1.8% | 1.02% | −0.06 |
| MRVL Marvell Technology Inc. | Reduce -11.5% | 0.51% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -8.8% | 0.42% | −0.04 |
| NXPI NXP Semiconductors NV | Reduce -5.7% | 0.49% | −0.03 |
| DUK Duke Energy Corp. | Reduce -6.8% | 0.41% | −0.03 |
| HOLX Hologic Inc. | Reduce -2.6% | 0.82% | −0.03 |
| BAC Bank of America Corp. | Reduce -6.8% | 0.84% | −0.02 |
| DGX Quest Diagnostics Inc. | Reduce -7.7% | 0.25% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -6.4% | 0.44% | −0.01 |
| MDT Medtronic PLC | Reduce -7.2% | 0.44% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -3.7% | 0.54% | −0.01 |
| UNH Unitedhealth Group Inc. | Reduce -5.9% | 0.31% | 0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -3.2% | 0.68% | +0.00 |
| KEY Keycorp | Reduce -2.5% | 1.04% | +0.00 |
| PNC PNC Financial Services Group | Reduce -2.8% | 1.21% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -0.1% | 1.00% | +0.02 |
| LH Labcorp Holdings Inc. | Reduce -3.0% | 0.97% | +0.02 |
| MKSI MKS Inc. | Reduce -13.5% | 0.57% | +0.02 |
| LEVI Levi Strauss & Co. Class A | Reduce -14.3% | 0.56% | +0.02 |
| JPM JPMorgan Chase & Co. | Reduce -2.5% | 2.04% | +0.04 |
| MDB Mongodb Inc. | Reduce -23.5% | 0.58% | +0.05 |
| ITT Itt Inc. | Reduce -1.6% | 0.66% | +0.05 |
| LHX L3HARRIS Technologies Inc. | Reduce -4.5% | 0.46% | +0.05 |
| NSC Norfolk Southern Corp. | Reduce -3.9% | 0.82% | +0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -5.3% | 0.37% | +0.07 |
Portfolio Buys Q2 2025 → Q3 2025
| BDX Becton Dickinson and Co. | New | 0.70% | +0.70 |
| BAH Booz Allen Hamilton Holdings | New | 0.43% | +0.43 |
| IWM iShares Russell 2000 ETF | Add +40.5% | 1.20% | +0.41 |
| WCC Wesco International Inc. | New | 0.39% | +0.39 |
| MOH Molina Healthcare Inc. | Add +213.8% | 0.79% | +0.38 |
| P Everpure Inc. Class A | New | 0.37% | +0.37 |
| HUBS HubSpot Inc. | New | 0.33% | +0.33 |
| FELE Franklin Electric Co. Inc. | New | 0.33% | +0.33 |
| WH Wyndham Hotels & Resorts Inc. | New | 0.31% | +0.31 |
| FTV Fortive Corp. | New | 0.31% | +0.31 |
| CGNX Cognex Corp. | New | 0.29% | +0.29 |
| ZTS Zoetis Inc. | New | 0.29% | +0.29 |
| STE Steris PLC | New | 0.28% | +0.28 |
| IT Gartner Inc. | New | 0.28% | +0.28 |
| RGEN Repligen Corp. | New | 0.27% | +0.27 |
| TEAM Atlassian Corp. Class A | New | 0.24% | +0.24 |
| CXW Corecivic Inc. | New | 0.23% | +0.23 |
| APTV Aptiv PLC | Add +9.0% | 0.89% | +0.22 |
| TFC Truist Financial Corp. | Add +41.7% | 0.56% | +0.17 |
| EXPE Expedia Group Inc. | Add +24.0% | 0.47% | +0.16 |
| ARW Arrow Electronics Inc. | New | 0.16% | +0.16 |
| RY Royal Bank of Canada | New | 0.15% | +0.15 |
| MUSA Murphy USA Inc. | Add +75.0% | 0.39% | +0.15 |
| BLD Topbuild Corp. | Add +20.0% | 0.42% | +0.12 |
| TKR Timken Co. | Add +27.9% | 0.42% | +0.09 |
| GMED Globus Medical Inc. Class A | Add +42.1% | 0.33% | +0.08 |
| KEX Kirby Corp. | Add +63.3% | 0.56% | +0.07 |
| DIOD Diodes Inc. | Add +23.4% | 0.44% | +0.07 |
| VVV Valvoline Inc. | Add +57.9% | 0.23% | +0.07 |
| CTRA Coterra Energy Inc. | Add +22.5% | 0.50% | +0.04 |
| SLB SLB Ltd. | Add +6.7% | 0.98% | +0.04 |
| TGT Target Corp. | Add +17.4% | 0.38% | +0.01 |
| NVCR Novocure Ltd. | Add +47.6% | 0.29% | +0.01 |
| TTD Trade Desk Inc./the Class A | Add +30.8% | 0.24% | −0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 111 | $151.2M | VTI, DIA, SPY, BSV, GOOG |
| Q1 2026 | 100 | $118.1M | VTI, DIA, SPY, AEM, CIEN |
| Q4 2025 | 108 | $122.8M | VTI, DIA, SPY, AEM, ACWX |
| Q3 2025 | 114 | $139.8M | VTI, DIA, SPY, BSV, IGSB |
| Q2 2025 | 113 | $134.2M | VTI, DIA, SPY, BSV, IGSB |
| Q1 2025 | 106 | $123.6M | VTI, DIA, SPY, BSV, IGSB |
| Q4 2024 | 109 | $126.5M | VTI, DIA, SPY, BSV, IGSB |
| Q3 2024 | 106 | $129.4M | VTI, DIA, SPY, BSV, IGSB |
| Q2 2024 | 101 | $117.9M | VTI, SPY, DIA, BSV, IGSB |
| Q1 2024 | 104 | $123.1M | VTI, DIA, SPY, BSV, IGSB |