Welch Group, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 14, 2025), Welch Group, LLC reported 298 stock positions worth $2.6 billion. Its top holding was Microsoft (MSFT) at 4.2% of the portfolio, followed by Apple (AAPL, 3.8%) and JPMorgan Chase (JPM, 3.5%). Compared with Q2 2025, it opened 25 new positions, sold out of 6, added to 140 and reduced 50. The biggest buy was Apple (AAPL, shares +1%) and the biggest sale Emerson Electric (EMR, shares −0%).

Most Recent 13F
Q2 2026
Location
BIRMINGHAM, AL
CIK
0001443095
Portfolio Value
$2.6B (Q3 2025)
SEC Filing
0001443095-25-000008 ↗ filed Oct 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $2.0B Q1 2024 Q2 2024: $2.1B Q2 2024 Q3 2024: $2.3B Q3 2024 Q4 2024: $2.2B Q4 2024 Q1 2025: $2.3B Q1 2025 Q2 2025: $2.4B Q2 2025 Q3 2025: $2.6B $2.6B Q3 2025 Q4 2025: $2.6B Q4 2025 Q1 2026: $2.7B Q1 2026 Q2 2026: $2.9B Q2 2026

Holdings 298 stocks · $2.6B
MSFT Microsoft Corp. 4.19% 207,049 $107.2M Add +1.0%
AAPL Apple Inc. 3.76% 378,099 $96.3M Add +0.8%
JPM JPMorgan Chase & Co. 3.51% 285,172 $90.0M Reduce -0.1%
RTX RTX Corp. 3.39% 518,150 $86.7M Reduce -0.6%
ABBV Abbvie Inc. 3.35% 370,508 $85.8M Add +0.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 3.32% 301,260 $85.0M Add +0.3%
SFBS Servisfirst Bancshares Inc. 3.09% 983,776 $79.2M Add +1.0%
SO The Southern Co. 2.86% 772,574 $73.2M Add +0.7%
HD Home Depot Inc. 2.83% 178,824 $72.5M Add +1.2%
JNJ Johnson & Johnson 2.78% 383,400 $71.1M Add +1.2%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 2.74% 226,514 $70.2M Add +1.1%
CVX Chevron Corp. 2.59% 427,227 $66.3M Add +1.8%
CSCO Cisco Systems Inc. 2.58% 966,136 $66.1M Add +1.0%
NEE Nextera Energy Inc. 2.57% 870,827 $65.7M Add +2.4%
LMT Lockheed Martin Corp. 2.55% 130,685 $65.2M Add +3.0%
QCOM Qualcomm Inc. 2.49% 383,804 $63.8M Add +2.1%
MCD McDonald's Corp. 2.49% 209,774 $63.7M Add +1.8%
CINF Cincinnati Financial Corp. 2.48% 402,235 $63.6M Add +0.4%
EMR Emerson Electric Co. 2.47% 482,412 $63.3M Reduce -0.1%
XOM Exxon Mobil Corp. 2.40% 544,075 $61.3M Add +1.6%
TFC Truist Financial Corp. 2.34% 1,311,936 $60.0M Add +1.0%
CL Colgate-Palmolive Co. 2.14% 685,785 $54.8M Add +3.1%
PG The Procter & Gamble Co. 2.07% 344,698 $53.0M Add +2.0%
ED Consolidated Edison Inc. 2.05% 522,697 $52.5M Add +1.7%
PAYX Paychex Inc. 2.01% 406,394 $51.5M Add +2.0%
VZ Verizon Communications Inc. 2.00% 1,166,318 $51.3M Add +1.6%
PFE Pfizer Inc. 1.98% 1,986,914 $50.6M Add +4.1%
TXN Texas Instruments Inc. 1.85% 257,192 $47.3M Add +1.7%
KMB Kimberly-Clark Corp. 1.83% 376,064 $46.8M Add +2.3%
PEP Pepsico Inc. 1.81% 330,181 $46.4M Reduce -9.3%
GIS General Mills Inc. 1.62% 822,280 $41.5M Add +5.7%
NVDA Nvidia Corp. 1.33% 182,318 $34.0M Reduce -1.0%
CAT Caterpillar Inc. 0.76% 40,697 $19.4M Add +2.7%
ORCL Oracle Corp. 0.74% 67,411 $19.0M Add +2.3%
KO The Coca-Cola Co. 0.70% 269,136 $17.8M Add +3.8%
GOOGL Alphabet Inc. Class A 0.61% 64,689 $15.7M Add +0.7%
AMZN Amazon.com Inc. 0.54% 63,023 $13.8M Add +3.5%
GS Goldman Sachs Group Inc. 0.51% 16,502 $13.1M Add +0.6%
V Visa Inc. Class A 0.51% 37,881 $12.9M Add +6.9%
IVV iShares Core S&P 500 ETF 0.48% 18,254 $12.2M Add +3.5%
DE Deere & Co. 0.47% 26,258 $12.0M Add +2.7%
META Meta Platforms Inc. Class A 0.45% 15,861 $11.6M Add +1.1%
AMD Advanced Micro Devices 0.45% 71,260 $11.5M Add +1.7%
AVGO Broadcom Inc. 0.43% 33,252 $11.0M Add +2.1%
BX Blackstone Inc. 0.43% 64,041 $10.9M Add +2.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.42% 74,424 $10.8M Add +3.5%
ABT Abbott Laboratories 0.41% 77,565 $10.4M Add +3.5%
MA Mastercard Inc. Class A 0.36% 16,017 $9.1M Add +3.3%
SYK Stryker Corp. 0.35% 24,112 $8.9M Add +10.9%
VMC Vulcan Materials Co. 0.33% 27,865 $8.6M Reduce -0.5%
SHW The Sherwin-Williams Co. 0.32% 24,014 $8.3M Add +4.9%
PANW Palo Alto Networks Inc. 0.31% 38,906 $7.9M New
AFL Aflac Inc. 0.29% 65,434 $7.3M Reduce -16.6%
CARR Carrier Global Corp. 0.27% 117,455 $7.0M Add +7.5%
GL Globe Life Inc. 0.26% 47,333 $6.8M Reduce -0.5%
ACN Accenture PLC Class A 0.26% 27,364 $6.7M Add +17.4%
AXP American Express Co. 0.24% 18,866 $6.3M Add +0.2%
TGT Target Corp. 0.24% 69,410 $6.2M Add +12.6%
LLY Eli Lilly & Co. 0.22% 7,514 $5.7M Add +15.4%
VOO Vanguard S&P 500 ETF 0.21% 8,721 $5.3M Reduce -5.8%
WMT Walmart Inc. 0.20% 50,486 $5.2M Add +5.2%
RF Regions Financial Corp. 0.16% 151,408 $4.0M Add +10.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.15% 5,592 $3.7M Add +10.7%
PM Philip Morris International 0.14% 21,716 $3.5M Add +0.3%
SNV Synovus Financial Corp. 0.13% 67,623 $3.3M Reduce -0.1%
VGSH Vanguard Short-Term Treasury 0.12% 54,347 $3.2M Add +45.0%
SHY iShares 1-3 Year Treasury Bo 0.12% 38,549 $3.2M Add +11.6%
GOOG Alphabet Inc. Class C 0.12% 12,837 $3.1M Reduce -0.8%
QQQ Invesco QQQ Trust Series 1 0.12% 5,088 $3.1M Add +5.2%
GLD SPDR Gold Shares 0.12% 8,368 $3.0M Add +5.3%
MRK Merck & Co. Inc. 0.11% 34,242 $2.9M Add +2.9%
MO Altria Group Inc. 0.11% 41,161 $2.7M Reduce -2.7%
T AT&T Inc. 0.10% 93,820 $2.6M Add +10.2%
MLI Mueller Industries Inc. 0.09% 22,000 $2.2M No change
CR Crane Co. 0.08% 11,000 $2.0M No change
WFC Wells Fargo & Co. 0.08% 23,405 $2.0M Add +4.2%
GPC Genuine Parts Co. 0.07% 13,858 $1.9M Add +6.5%
WELL Welltower Inc. 0.07% 10,703 $1.9M No change
RSG Republic Services Inc. 0.07% 8,123 $1.9M No change
MOD Modine Manufacturing Co. 0.07% 13,000 $1.8M No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.07% 16,936 $1.8M No change
AON Aon PLC Class A 0.07% 5,130 $1.8M No change
WM Waste Management Inc. 0.07% 8,281 $1.8M Add +22.0%
NOC Northrop Grumman Corp. 0.07% 2,911 $1.8M Add +1.4%
GGG Graco Inc. 0.07% 20,653 $1.8M No change
COST Costco Wholesale Corp. 0.07% 1,808 $1.7M Add +3.0%
HON Honeywell International Inc. 0.06% 7,716 $1.6M Add +4.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 31,022 $1.6M Add +8.1%
DUK Duke Energy Corp. 0.06% 12,821 $1.6M Add +3.4%
WTS Watts Water Technologies-A 0.06% 5,400 $1.5M No change
BBVA Banco Bilbao Vizcaya-SP ADR 0.06% 76,785 $1.5M Add +21.0%
ORLY O'reilly Automotive Inc. 0.06% 13,240 $1.4M Reduce -1.5%
GATX Gatx Corp. 0.05% 7,512 $1.3M No change
TXT Textron Inc. 0.05% 15,400 $1.3M No change
VONE Vanguard Russell 1000 0.05% 4,237 $1.3M No change
TSLA Tesla Inc. 0.05% 2,871 $1.3M Add +0.1%
BLK BlackRock Inc. 0.05% 1,073 $1.3M Add +41.2%
MDLZ Mondelez International Inc. Class A 0.05% 19,587 $1.2M Add +3.7%
NVS Novartis AG-Sponsored ADR 0.05% 9,466 $1.2M No change
GLDM SPDR Gold Minishares Trust 0.05% 15,311 $1.2M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 10,052 $1.2M Add +4.0%
XYL Xylem Inc. 0.04% 7,802 $1.2M No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.04% 12,231 $1.1M Reduce -48.4%
COP Conocophillips 0.04% 11,771 $1.1M Add +12.6%
UCB United Community Banks 0.04% 34,558 $1.1M No change
NFLX Netflix Inc. 0.04% 897 $1.1M Reduce -0.4%
URI United Rentals Inc. 0.04% 1,120 $1.1M Reduce -2.2%
SLV iShares Silver Trust 0.04% 25,233 $1.1M Reduce -3.1%
NEM Newmont Corp. 0.04% 12,187 $1.0M Add +1.3%
OKE Oneok Inc. 0.04% 14,069 $1.0M Add +14.6%
STT State Street Corp. 0.04% 8,653 $1.0M Add +3.6%
IVW iShares S&P 500 Growth ETF 0.04% 8,179 $987K Add +57.4%
ETN Eaton Corp. PLC 0.04% 2,616 $979K Add +0.3%
VXUS Vanguard Total Intl Stock 0.04% 13,239 $973K New
VTI VG Morningstar TS MKT ETF-US 0.04% 2,953 $969K Add +21.3%
NSC Norfolk Southern Corp. 0.04% 3,213 $965K Add +74.7%
VWO Vanguard Ftse Emerging Marke 0.04% 17,678 $958K Add +285.5%
BATRA Atlanta Braves Holdings in-A 0.04% 20,976 $954K No change
RY Royal Bank of Canada 0.04% 6,403 $943K No change
SMH Vaneck Semiconductor ETF 0.04% 2,873 $938K Add +1.4%
NFG National Fuel Gas Co. 0.04% 10,108 $934K Add +4.2%
XLK SS Technology Select Sector 0.04% 3,276 $923K Add +0.2%
AEP American Electric Power 0.04% 8,194 $922K Add +0.1%
PLTR Palantir Technologies Inc. Class A 0.04% 5,046 $920K Add +12.1%
CB Chubb Ltd. 0.04% 3,221 $909K Add +20.6%
PTLC Pacer Trendpilot US Large Ca 0.04% 16,565 $907K Add +1.2%
NPO Enpro Inc. 0.04% 4,000 $904K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.03% 2,940 $864K Add +8.2%
VYM Vanguard High DVD Yield ETF 0.03% 6,051 $853K Add +2.1%
UTG Reaves Utility Income Fund 0.03% 21,229 $841K Reduce -5.7%
YUM Yum! Brands Inc. 0.03% 5,397 $820K Reduce -0.0%
GD General Dynamics Corp. 0.03% 2,393 $816K Add +16.9%
MU Micron Technology Inc. 0.03% 4,768 $798K No change
FANG Diamondback Energy Inc. 0.03% 5,113 $732K Add +11.4%
SONY Sony Group Corp. - SP ADR 0.03% 25,373 $730K Add +0.9%
ACA Arcosa Inc. 0.03% 7,500 $703K No change
HRI Herc Holdings Inc. filed as HERC HLDGS INC 0.03% 5,800 $677K Reduce -6.0%
DVY iShares Select Dividend ETF 0.03% 4,662 $662K Add +4.5%
MLM Martin Marietta Materials 0.03% 1,035 $652K No change
VIG Vanguard Dividend Apprec ETF 0.03% 3,002 $648K Reduce -20.4%
VGT Vanguard Info Tech ETF 0.02% 852 $636K No change
CNH CNH Industrial NV 0.02% 58,118 $631K No change
VEA Vanguard Ftse Developed ETF 0.02% 10,467 $627K New
PNC PNC Financial Services Group 0.02% 3,079 $619K Add +3.5%
UNP Union Pacific Corp. 0.02% 2,615 $618K Add +4.1%
IEX Idex Corp. 0.02% 3,700 $602K No change
ETR Entergy Corp. 0.02% 6,343 $591K No change
UL Unilever PLC 0.02% 9,857 $584K Reduce -4.5%
BA The Boeing Co. 0.02% 2,705 $584K No change
PCAR Paccar Inc. 0.02% 5,833 $574K Add +0.0%
XLE SS Energy Select Sector 0.02% 6,416 $573K Add +3.9%
VUG Vanguard Mrngstar GR ETF-Sui 0.02% 1,173 $563K Reduce -3.9%
ADP Automatic Data Processing 0.02% 1,912 $561K Add +23.5%
SPG Simon Property Group Inc. 0.02% 2,976 $558K Add +0.1%
MSGS Madison Square Garden Sports 0.02% 2,439 $554K Reduce -0.0%
AD Array Digital Infrastructure 0.02% 11,000 $550K No change
ZBH Zimmer Biomet Holdings Inc. 0.02% 5,550 $547K No change
TMO Thermo Fisher Scientific Inc. 0.02% 1,117 $542K New
IWM iShares Russell 2000 ETF 0.02% 2,210 $535K Add +9.7%
SBUX Starbucks Corp. 0.02% 6,316 $534K Add +6.8%
ET Energy Transfer LP 0.02% 31,037 $533K Reduce -3.3%
DEO Diageo PLC-Sponsored ADR 0.02% 5,500 $525K Reduce -1.5%
FLS Flowserve Corp. 0.02% 9,850 $523K No change
FNDX Schwab Fndmntl US LRG Co. ETF 0.02% 19,536 $514K Reduce -21.2%
COF Capital One Financial Corp. 0.02% 2,412 $513K No change
BMY Bristol-Myers Squibb Co. 0.02% 10,991 $496K Add +6.5%
GPN Global Payments Inc. 0.02% 5,835 $485K No change
IDA Idacorp Inc. 0.02% 3,656 $483K No change
INTC Intel Corp. 0.02% 14,305 $480K Add +3.3%
IJH iShares Core S&P Midcap ETF 0.02% 7,304 $477K Add +5.9%
FE Firstenergy Corp. 0.02% 10,336 $474K Add +2.7%
XLC SS Comm Select Sector SPDR 0.02% 3,985 $472K Add +0.1%
RHP Ryman Hospitality Properties 0.02% 5,250 $470K No change
D Dominion Energy Inc. 0.02% 7,650 $468K Add +0.7%
IEI iShares 3-7 Year Treasury Bo 0.02% 3,870 $463K New
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.02% 4,531 $462K No change
SCHK Schwab 1000 Index ETF 0.02% 14,380 $462K No change
CEG Constellation Energy 0.02% 1,395 $459K Add +31.6%
MPC Marathon Petroleum Corp. 0.02% 2,351 $453K No change
BSX Boston Scientific Corp. 0.02% 4,641 $453K No change
PSX Phillips 66 0.02% 3,311 $450K No change
GILD Gilead Sciences Inc. 0.02% 3,949 $438K Add +1.7%
NDAQ Nasdaq Inc. 0.02% 4,951 $438K No change
CRGY Crescent Energy Inc. Class A 0.02% 48,396 $432K No change
ITT Itt Inc. 0.02% 2,402 $429K No change
VMI Valmont Industries 0.02% 1,100 $427K No change
XEL Xcel Energy Inc. 0.02% 5,279 $426K Add +5.8%
NTRS Northern Trust Corp. 0.02% 3,153 $424K No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.02% 3,072 $423K Reduce -2.4%
ES Eversource Energy 0.02% 5,936 $422K No change
GE General Electric filed as GE AEROSPACE 0.02% 1,401 $421K No change
PRF Invesco Rafi US 1000 ETF 0.02% 9,294 $420K Add +0.3%
TRV The Travelers Cos Inc. 0.02% 1,450 $405K New
IHI iShares U.S. Medical Devices 0.02% 6,630 $398K No change
K Kellanova 0.02% 4,826 $396K Reduce -5.1%
CRM Salesforce Inc. 0.02% 1,669 $396K Add +5.5%
KHC The Kraft Heinz Co. 0.02% 15,053 $392K Reduce -0.8%
TSPA T Rowe Price US Eqy Research 0.02% 9,238 $387K No change
AZZ Azz Inc. 0.01% 3,500 $382K No change
GFF Griffon Corp. 0.01% 5,000 $381K No change
EPD Enterprise Products Partners 0.01% 12,042 $377K Reduce -7.4%
ALL Allstate Corp. 0.01% 1,747 $375K Add +9.1%
RNR Renaissancere Holdings Ltd. 0.01% 1,472 $374K Add +1.5%
CXT Crane NXT Co. 0.01% 5,500 $369K No change
POST Post Holdings Inc. filed as POST HLDGS INC 0.01% 3,400 $365K Reduce -0.1%
MS Morgan Stanley 0.01% 2,280 $362K No change
AMAT Applied Materials Inc. 0.01% 1,741 $356K Add +3.0%
APD Air Products & Chemicals Inc. 0.01% 1,301 $355K Add +12.3%
AEM Agnico Eagle Mines Ltd. 0.01% 2,087 $352K Reduce -44.4%
CDNS Cadence Design SYS Inc. 0.01% 1,000 $351K No change
PRA Proassurance Corp. 0.01% 14,619 $351K Add +52.7%
IJR iShares Core S&P Small-Cap E 0.01% 2,936 $349K Add +59.6%
NUE Nucor Corp. 0.01% 2,535 $343K Reduce -5.3%
CMCSA Comcast Corp. Class A 0.01% 10,894 $342K Add +19.4%
FBK FB Financial Corp. filed as FB FINL CORP 0.01% 6,127 $342K New
SXT Sensient Technologies Corp. 0.01% 3,600 $338K No change
COIN Coinbase Global Inc. Class A 0.01% 1,000 $337K No change
KMI Kinder Morgan Inc. 0.01% 11,775 $333K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.01% 818 $329K Add +10.1%
PBT Permian Basin Royalty Trust 0.01% 17,798 $325K No change
TRN Trinity Industries Inc. 0.01% 11,500 $322K No change
DNP DNP Select Income Fund Inc. 0.01% 30,967 $310K New
AMGN Amgen Inc. 0.01% 1,092 $308K Add +27.4%
TGNA Tegna Inc. 0.01% 15,000 $305K Reduce -0.1%
GDXJ Vaneck Junior Gold Miners 0.01% 3,039 $301K No change
NLY Annaly Capital Management Inc. 0.01% 14,671 $297K No change
HAL Halliburton Co. 0.01% 12,025 $296K Reduce -0.1%
CHE Chemed Corp. 0.01% 660 $296K No change
IBIT iShares Bitcoin Trust ETF 0.01% 4,524 $294K New
GDX Vaneck Gold Miners ETF 0.01% 3,831 $293K Reduce -7.9%
LHX L3HARRIS Technologies Inc. 0.01% 955 $292K Add +1.2%
URA Global X Uranium ETF 0.01% 6,076 $290K No change
VXF Vanguard Extended Market ETF 0.01% 1,365 $286K No change
DXJ Wisdomtree Japan Hedged Eq 0.01% 2,196 $281K Add +8.3%
SHEL Shell PLC-ADR 0.01% 3,930 $281K Add +1.7%
LIN Linde PLC 0.01% 589 $280K New
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 1,498 $279K Reduce -1.8%
IJS iShares S&P Small-Cap 600 Va 0.01% 2,526 $279K New
CRWD CrowdStrike Holdings Inc. Class A 0.01% 563 $276K Add +20.3%
LNT Alliant Energy Corp. 0.01% 4,089 $276K New
OEF iShares S&P 100 ETF 0.01% 820 $273K No change
VDE Vanguard Energy ETF 0.01% 2,167 $273K No change
CLX Clorox Company 0.01% 2,193 $270K No change
IP International Paper Co. 0.01% 5,804 $269K No change
BBUS JPMorgan Betabuilders US Equ 0.01% 2,227 $269K No change
LOW Lowe's Cos Inc. 0.01% 1,067 $268K Reduce -11.8%
ACIC American Coastal Insurance C 0.01% 23,288 $265K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.01% 893 $262K Reduce -1.1%
LRCX Lam Research Corp. 0.01% 1,958 $262K New
BABA Alibaba Group Holding-SP ADR 0.01% 1,442 $258K New
GEV GE Vernova Inc. 0.01% 418 $257K Add +7.2%
JEPI JPMorgan Equity Premium Inco 0.01% 4,443 $254K Add +0.3%
MMM 3M Co. 0.01% 1,633 $253K Add +10.3%
AEE Ameren Corporation 0.01% 2,410 $252K Reduce -2.1%
TECK Teck Resources Ltd.-CLS B 0.01% 5,700 $250K No change
MCHP Microchip Technology Inc. 0.01% 3,895 $250K Add +6.6%
SCHX Schwab US Large-Cap ETF 0.01% 9,378 $247K Reduce -13.0%
FBIN Fortune Brands Innovations I 0.01% 4,621 $247K Reduce -0.1%
VFH Vanguard Financials ETF 0.01% 1,872 $246K Add +0.1%
OBDC Blue Owl Capital Corp. 0.01% 19,225 $246K Add +2.5%
ROST Ross Stores Inc. 0.01% 1,606 $245K Reduce -0.1%
USB US Bancorp 0.01% 5,035 $243K New
CAH Cardinal Health Inc. 0.01% 1,528 $240K Reduce -2.7%
ADBE Adobe Inc. 0.01% 675 $238K Add +18.8%
SMBK Smartfinancial Inc. 0.01% 6,499 $232K No change
PPG PPG Industries Inc. 0.01% 2,171 $228K No change
HWC Hancock Whitney Corp. 0.01% 3,643 $228K No change
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.01% 3,950 $227K No change
ISRG Intuitive Surgical Inc. 0.01% 505 $226K Add +9.8%
IWR iShares Russell Mid-Cap ETF 0.01% 2,321 $224K Add +0.7%
DG Dollar General Corp. 0.01% 2,167 $224K Add +0.1%
VT Vanguard Tot World STK ETF 0.01% 1,604 $221K Add +0.1%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.01% 6,382 $219K Reduce -0.3%
ITW Illinois Tool Works 0.01% 841 $219K New
VB Vanguard Most SM-Cap ETF-Usd 0.01% 859 $218K Reduce -11.8%
MPT Medical Properties Trust Inc. 0.01% 42,333 $215K Reduce -17.4%
TLN Talen Energy Corp. 0.01% 500 $213K New
IR Ingersoll-Rand Inc. 0.01% 2,559 $211K Reduce -6.6%
HUBB Hubbell Inc. 0.01% 490 $211K New
PKG Packaging Corp. of America 0.01% 966 $211K New
VVV Valvoline Inc. 0.01% 5,736 $206K New
CTVA Corteva Inc. 0.01% 3,036 $205K Add +2.2%
EXC Exelon Corp. 0.01% 4,500 $203K New
AOS Smith (a.o.) Corp. 0.01% 2,754 $202K New
CADE Cadence Bank 0.01% 5,370 $202K New
REGN Regeneron Pharmaceuticals 0.01% 358 $201K New
RIVN Rivian Automotive Inc. Class A 0.01% 11,116 $163K No change
SJT San Juan Basin Royalty TR 0.01% 22,008 $133K No change
ZDGE Zedge Inc. Class B 0.01% 45,671 $133K Add +274.9%
ABEV Ambev SA-ADR 0.00% 44,191 $99K Reduce -0.3%
BITF Bitfarms Ltd./Canada 0.00% 32,740 $92K No change
MTR Mesa Royalty Trust 0.00% 16,370 $86K No change
UROY Uranium Royalty Corp. 0.00% 17,610 $76K No change
GTN Gray Media Inc. 0.00% 12,369 $71K No change
SVM Silvercorp Metals Inc. 0.00% 11,295 $71K No change
DNN Denison Mines Corp. 0.00% 11,428 $31K No change
WWR Westwater Resources Inc. 0.00% 22,954 $22K No change
ARBK Argo Blockchain PLC 0.00% 12,309 $3K No change

Options reported separately and not counted above: V puts ($683K).

Portfolio Sells Q2 2025 → Q3 2025
EMR Emerson Electric Co. Reduce -0.1% 2.47% −0.22
PEP Pepsico Inc. Reduce -9.3% 1.81% −0.20
AFL Aflac Inc. Reduce -16.6% 0.29% −0.06
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -48.4% 0.04% −0.05
SNV Synovus Financial Corp. Reduce -0.1% 0.13% −0.02
SCHD Schwab US DVD Equity ETF Sold out 0.00% −0.01
VOO Vanguard S&P 500 ETF Reduce -5.8% 0.21% −0.01
WLDN Willdan Group Inc. Sold out 0.00% −0.01
SJM The JM Smucker Co. Sold out 0.00% −0.01
SSBK Southern States Bancshares Sold out 0.00% −0.01
NFLX Netflix Inc. Reduce -0.4% 0.04% −0.01
HRI Herc Holdings Inc. Reduce -6.0% 0.03% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -20.4% 0.03% −0.01
FNDX Schwab Fndmntl US LRG Co. ETF Reduce -21.2% 0.02% −0.01
AEM Agnico Eagle Mines Ltd. Reduce -44.4% 0.01% −0.00
UL Unilever PLC Reduce -4.5% 0.02% −0.00
ET Energy Transfer LP Reduce -3.3% 0.02% −0.00
DEO Diageo PLC-Sponsored ADR Reduce -1.5% 0.02% −0.00
EPD Enterprise Products Partners Reduce -7.4% 0.01% −0.00
CAH Cardinal Health Inc. Reduce -2.7% 0.01% −0.00
EAF Graftech International Ltd. Sold out 0.00% −0.00
K Kellanova Reduce -5.1% 0.02% −0.00
SCHX Schwab US Large-Cap ETF Reduce -13.0% 0.01% −0.00
YUM Yum! Brands Inc. Reduce -0.0% 0.03% −0.00
IR Ingersoll-Rand Inc. Reduce -6.6% 0.01% −0.00
POST Post Holdings Inc. Reduce -0.1% 0.01% −0.00
UTG Reaves Utility Income Fund Reduce -5.7% 0.03% −0.00
KHC The Kraft Heinz Co. Reduce -0.8% 0.02% −0.00
NUE Nucor Corp. Reduce -5.3% 0.01% −0.00
VB Vanguard Most SM-Cap ETF-Usd Reduce -11.8% 0.01% −0.00
MPT Medical Properties Trust Inc. Reduce -17.4% 0.01% −0.00
LOW Lowe's Cos Inc. Reduce -11.8% 0.01% −0.00
BPPTU BP Prudhoe Bay Royalty Trust Sold out 0.00% −0.00
MGV Vngrd Mrgstr MG CP VL ETF-Ui Reduce -2.4% 0.02% −0.00
ABEV Ambev SA-ADR Reduce -0.3% 0.00% −0.00
SLB SLB Ltd. Reduce -0.3% 0.01% −0.00
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -1.1% 0.01% −0.00
VUG Vanguard Mrngstar GR ETF-Sui Reduce -3.9% 0.02% −0.00
VTV Vanguard Mrngstr Val ETF-Aui Reduce -1.8% 0.01% −0.00
FBIN Fortune Brands Innovations I Reduce -0.1% 0.01% −0.00
AEE Ameren Corporation Reduce -2.1% 0.01% −0.00
MSGS Madison Square Garden Sports Reduce -0.0% 0.02% +0.00
ROST Ross Stores Inc. Reduce -0.1% 0.01% +0.00
HAL Halliburton Co. Reduce -0.1% 0.01% +0.00
TGNA Tegna Inc. Reduce -0.1% 0.01% +0.00
GDX Vaneck Gold Miners ETF Reduce -7.9% 0.01% +0.00
MO Altria Group Inc. Reduce -2.7% 0.11% +0.00
ORLY O'reilly Automotive Inc. Reduce -1.5% 0.06% +0.01
URI United Rentals Inc. Reduce -2.2% 0.04% +0.01
SLV iShares Silver Trust Reduce -3.1% 0.04% +0.01

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +0.8% 3.76% +0.54
ABBV Abbvie Inc. Add +0.9% 3.35% +0.50
JNJ Johnson & Johnson Add +1.2% 2.78% +0.36
PANW Palo Alto Networks Inc. New 0.31% +0.31
GOOGL Alphabet Inc. Class A Add +0.7% 0.61% +0.14
ORCL Oracle Corp. Add +2.3% 0.74% +0.14
HD Home Depot Inc. Add +1.2% 2.83% +0.12
CAT Caterpillar Inc. Add +2.7% 0.76% +0.12
NEE Nextera Energy Inc. Add +2.4% 2.57% +0.10
LMT Lockheed Martin Corp. Add +3.0% 2.55% +0.09
CVX Chevron Corp. Add +1.8% 2.59% +0.08
AVGO Broadcom Inc. Add +2.1% 0.43% +0.05
TJX TJX Companies Inc. Add +3.5% 0.42% +0.05
GLDM SPDR Gold Minishares Trust New 0.05% +0.05
PFE Pfizer Inc. Add +4.1% 1.98% +0.04
VXUS Vanguard Total Intl Stock New 0.04% +0.04
BX Blackstone Inc. Add +2.2% 0.43% +0.04
AMD Advanced Micro Devices Add +1.7% 0.45% +0.03
VGSH Vanguard Short-Term Treasury Add +45.0% 0.12% +0.03
GS Goldman Sachs Group Inc. Add +0.6% 0.51% +0.03
VWO Vanguard Ftse Emerging Marke Add +285.5% 0.04% +0.03
VEA Vanguard Ftse Developed ETF New 0.02% +0.02
TMO Thermo Fisher Scientific Inc. New 0.02% +0.02
RF Regions Financial Corp. Add +10.1% 0.16% +0.02
IVV iShares Core S&P 500 ETF Add +3.5% 0.48% +0.02
IEI iShares 3-7 Year Treasury Bo New 0.02% +0.02
NSC Norfolk Southern Corp. Add +74.7% 0.04% +0.02
BBVA Banco Bilbao Vizcaya-SP ADR Add +21.0% 0.06% +0.02
TRV The Travelers Cos Inc. New 0.02% +0.02
BLK BlackRock Inc. Add +41.2% 0.05% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +10.7% 0.15% +0.01
GLD SPDR Gold Shares Add +5.3% 0.12% +0.01
IVW iShares S&P 500 Growth ETF Add +57.4% 0.04% +0.01
FBK FB Financial Corp. New 0.01% +0.01
DNP DNP Select Income Fund Inc. New 0.01% +0.01
LLY Eli Lilly & Co. Add +15.4% 0.22% +0.01
TSLA Tesla Inc. Add +0.1% 0.05% +0.01
IBIT iShares Bitcoin Trust ETF New 0.01% +0.01
IJS iShares S&P Small-Cap 600 Va New 0.01% +0.01
LIN Linde PLC New 0.01% +0.01
LNT Alliant Energy Corp. New 0.01% +0.01
NEM Newmont Corp. Add +1.3% 0.04% +0.01
PLTR Palantir Technologies Inc. Class A Add +12.1% 0.04% +0.01
LRCX Lam Research Corp. New 0.01% +0.01
BABA Alibaba Group Holding-SP ADR New 0.01% +0.01
USB US Bancorp New 0.01% +0.01
NOC Northrop Grumman Corp. Add +1.4% 0.07% +0.01
GPC Genuine Parts Co. Add +6.5% 0.07% +0.01
ITW Illinois Tool Works New 0.01% +0.01
TLN Talen Energy Corp. New 0.01% +0.01

Notes & Other Activity Q2 2025 → Q3 2025
AP.WS Ampco-Pittsburgh Corp. -CW25 *W EXP 08/01/202 Sold out 12,000 $228before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 320$2.9BAAPL, CSCO, ABBV, JPM, JNJ
Q1 2026 308$2.7BAAPL, RTX, CVX, XOM, JNJ
Q4 2025 307$2.6BAAPL, MSFT, RTX, JPM, IBM
Q3 2025 298$2.6BMSFT, AAPL, JPM, RTX, ABBV
Q2 2025 279$2.4BMSFT, IBM, JPM, AAPL, RTX
Q1 2025 265$2.3BSFBS, AAPL, MSFT, AJG, ABBV
Q4 2024 262$2.2BAAPL, SFBS, MSFT, JPM, IBM
Q3 2024 268$2.3BSFBS, MSFT, AAPL, IBM, ABBV
Q2 2024 266$2.1BMSFT, SFBS, AAPL, QCOM, JPM
Q1 2024 234$2.0BMSFT, SFBS, ABBV, HD, JPM