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

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $123.1M Q1 2024 Q2 2024: $117.9M Q2 2024 Q3 2024: $129.4M Q3 2024 Q4 2024: $126.5M Q4 2024 Q1 2025: $123.6M Q1 2025 Q2 2025: $134.2M Q2 2025 Q3 2025: $139.8M $139.8M Q3 2025 Q4 2025: $122.8M Q4 2025 Q1 2026: $118.1M Q1 2026 Q2 2026: $151.2M Q2 2026

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
DGX Quest Diagnostics Inc. 0.25% 1,805 $344K Reduce -7.7%
TEAM Atlassian Corp. Class A 0.24% 2,100 $335K New
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.24% 6,800 $333K Add +30.8%
VVV Valvoline Inc. 0.23% 9,000 $323K Add +57.9%
CXW Corecivic Inc. 0.23% 15,800 $322K New
AMP Ameriprise Financial Inc. 0.21% 586 $288K No change
DECK Deckers Outdoor Corp. 0.20% 2,800 $284K No change
MSCI MSCI Inc. 0.20% 500 $284K No change
WFC Wells Fargo & Co. 0.20% 3,300 $277K No change
PCTY Paylocity Holding Corp. 0.16% 1,405 $224K No change
ARW Arrow Electronics Inc. 0.16% 1,800 $218K New
RY Royal Bank of Canada 0.15% 1,400 $206K New
CB Chubb Ltd. 0.15% 728 $205K No change
ELV Elevance Health Inc. 0.14% 625 $202K No change
Other holdings (3): bonds, preferreds, convertibles and warrants · $372K (not counted above)
SecurityClassShares / PrincipalValueChange
UNITY SOFTWARE INC (U 0 11/15/26) NOTE 11/1 · principal 200,000$190KNo change
CONFLUENT INC (CFLT 0 01/15/27) NOTE 1/1 · principal 100,000$94KNo change
ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal 100,000$88KNo 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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 111$151.2MVTI, DIA, SPY, BSV, GOOG
Q1 2026 100$118.1MVTI, DIA, SPY, AEM, CIEN
Q4 2025 108$122.8MVTI, DIA, SPY, AEM, ACWX
Q3 2025 114$139.8MVTI, DIA, SPY, BSV, IGSB
Q2 2025 113$134.2MVTI, DIA, SPY, BSV, IGSB
Q1 2025 106$123.6MVTI, DIA, SPY, BSV, IGSB
Q4 2024 109$126.5MVTI, DIA, SPY, BSV, IGSB
Q3 2024 106$129.4MVTI, DIA, SPY, BSV, IGSB
Q2 2024 101$117.9MVTI, SPY, DIA, BSV, IGSB
Q1 2024 104$123.1MVTI, DIA, SPY, BSV, IGSB