Wendell David Associates Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 22, 2024), Wendell David Associates Inc. reported 163 stock positions worth $989.6 million. Its top holding was Mastercard Class A (MA) at 6.0% of the portfolio, followed by Microsoft (MSFT, 5.9%) and Apple (AAPL, 5.2%). Compared with Q4 2023, it opened 4 new positions, sold out of 3, added to 42 and reduced 78. The biggest buy was Eli Lilly (LLY, shares +0%) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
PORTSMOUTH, NH
CIK
0000878228
Portfolio Value
$989.6M (Q1 2024)
SEC Filing
0000878228-24-000004 ↗ filed Apr 22, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $989.6M $989.6M Q1 2024 Q2 2024: $981.4M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $1.0B Q4 2024 Q1 2025: $1.0B Q1 2025 Q2 2025: $994.3M Q2 2025 Q3 2025: $1.0B Q3 2025 Q4 2025: $984.3M Q4 2025 Q1 2026: $918.9M Q1 2026 Q2 2026: $946.7M Q2 2026

Holdings 163 stocks · $989.6M
MA Mastercard Inc. Class A 5.96% 122,510 $59.0M Reduce -1.2%
MSFT Microsoft Corp. 5.87% 138,030 $58.1M Add +0.4%
AAPL Apple Inc. 5.23% 301,802 $51.8M Reduce -0.9%
ADP Automatic Data Processing 4.78% 189,242 $47.3M Reduce -0.2%
SYK Stryker Corp. 4.36% 120,582 $43.2M Reduce -0.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 4.13% 402,845 $40.9M Reduce -0.7%
LLY Eli Lilly & Co. 3.42% 43,564 $33.9M Add +0.1%
INTU Intuit Inc. 2.64% 40,121 $26.1M Reduce -1.0%
ABT Abbott Laboratories 2.60% 225,979 $25.7M Add +0.4%
FISV Fiserv Inc. 2.54% 157,016 $25.1M Reduce -0.7%
MCD McDonald's Corp. 2.21% 77,571 $21.9M Reduce -0.0%
BR Broadridge Financial Solutio 2.19% 105,599 $21.6M Add +0.3%
ABBV Abbvie Inc. 1.92% 104,389 $19.0M Add +0.1%
DHR Danaher Corp. 1.91% 75,728 $18.9M Reduce -1.4%
CHD Church & Dwight Co. Inc. 1.87% 177,338 $18.5M Reduce -1.5%
JNJ Johnson & Johnson 1.83% 114,184 $18.1M Reduce -0.3%
NKE Nike Inc. Class B 1.75% 184,407 $17.3M Reduce -1.0%
GOOGL Alphabet Inc. Class A 1.72% 113,050 $17.1M Reduce -1.1%
ECL Ecolab Inc. 1.70% 72,654 $16.8M Add +3.1%
PEP Pepsico Inc. 1.63% 92,386 $16.2M Add +1.2%
MPC Marathon Petroleum Corp. 1.58% 77,397 $15.6M No change
NEE Nextera Energy Inc. 1.55% 240,114 $15.3M Add +2.1%
PG The Procter & Gamble Co. 1.52% 92,516 $15.0M Reduce -1.4%
FDS Factset Research Systems Inc. 1.45% 31,662 $14.4M Reduce -0.1%
WSO Watsco Inc. 1.44% 33,012 $14.3M Add +0.2%
COST Costco Wholesale Corp. 1.35% 18,228 $13.4M Reduce -0.6%
MKC McCormick & Co.-Non VTG SHRS 1.21% 155,817 $12.0M Reduce -2.1%
XOM Exxon Mobil Corp. 1.19% 101,550 $11.8M Add +0.1%
HD Home Depot Inc. 1.14% 29,418 $11.3M Reduce -0.2%
KO The Coca-Cola Co. 1.12% 180,498 $11.0M Reduce -2.8%
IDXX Idexx Laboratories Inc. 1.02% 18,679 $10.1M Reduce -2.1%
NVO Novo-Nordisk A/S-Spons ADR 1.00% 77,222 $9.9M Reduce -0.3%
ACN Accenture PLC Class A 0.95% 27,249 $9.4M Add +3.9%
SHW The Sherwin-Williams Co. 0.84% 23,919 $8.3M Reduce -1.3%
AMT American Tower Corp. 0.82% 41,310 $8.2M Reduce -0.7%
QCOM Qualcomm Inc. 0.79% 46,278 $7.8M Reduce -10.2%
AMZN Amazon.com Inc. 0.75% 41,109 $7.4M Reduce 0.0%
CL Colgate-Palmolive Co. 0.74% 81,573 $7.3M Reduce -0.5%
MRK Merck & Co. Inc. 0.69% 51,549 $6.8M Reduce -0.3%
BF.B Brown-Forman Corp. Class B 0.65% 124,199 $6.4M Add +2.9%
BRK.B Berkshire Hathaway Inc. Class B 0.62% 14,570 $6.1M Add +2.5%
LOW Lowe's Cos Inc. 0.59% 23,102 $5.9M Add +0.1%
V Visa Inc. Class A 0.56% 19,909 $5.6M Reduce -0.4%
SYY Sysco Corp. 0.55% 66,827 $5.4M Add +1.4%
WMT Walmart Inc. 0.55% 89,676 $5.4M No change
ORLY O'reilly Automotive Inc. 0.52% 4,528 $5.1M Add +4.3%
ITW Illinois Tool Works 0.50% 18,468 $5.0M Reduce -0.4%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.48% 4,699 $4.8M No change
RTX RTX Corp. 0.46% 47,000 $4.6M Reduce -19.8%
PAYX Paychex Inc. 0.43% 34,398 $4.2M Reduce -13.7%
EMR Emerson Electric Co. 0.42% 36,335 $4.1M No change
FTV Fortive Corp. 0.40% 45,500 $3.9M Add +0.6%
APD Air Products & Chemicals Inc. 0.39% 15,781 $3.8M Reduce -4.2%
BDX Becton Dickinson and Co. 0.38% 15,115 $3.7M Reduce -0.7%
ZTS Zoetis Inc. 0.37% 21,717 $3.7M Reduce -1.8%
ULTA Ulta Beauty Inc. 0.37% 6,923 $3.6M Reduce -1.8%
UNP Union Pacific Corp. 0.36% 14,325 $3.5M Reduce -1.0%
BCPC Balchem Corp. 0.34% 21,477 $3.3M No change
AMGN Amgen Inc. 0.33% 11,448 $3.3M Add +0.2%
PFF iShares Preferred & Income S 0.32% 99,062 $3.2M Reduce -24.5%
EW Edwards Lifesciences Corp. 0.32% 32,885 $3.1M Reduce -3.6%
HON Honeywell International Inc. 0.31% 14,800 $3.0M Reduce -1.7%
FAST Fastenal Co. 0.31% 39,200 $3.0M No change
DE Deere & Co. 0.30% 7,346 $3.0M Reduce -6.7%
ADI Analog Devices Inc. 0.30% 14,901 $2.9M Reduce -1.7%
ISRG Intuitive Surgical Inc. 0.29% 7,275 $2.9M No change
CSCO Cisco Systems Inc. 0.27% 54,049 $2.7M Reduce -1.1%
LMT Lockheed Martin Corp. 0.27% 5,852 $2.7M Add +10.8%
SBUX Starbucks Corp. 0.26% 28,683 $2.6M Add +2.3%
VZ Verizon Communications Inc. 0.25% 59,672 $2.5M Reduce -8.8%
TMO Thermo Fisher Scientific Inc. 0.24% 4,087 $2.4M Reduce -0.6%
HSY The Hershey Co. 0.20% 10,091 $2.0M Reduce -1.1%
EXPD Expeditors Intl Wash Inc. 0.19% 15,615 $1.9M No change
PPG PPG Industries Inc. 0.18% 12,528 $1.8M Add +0.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.17% 8,587 $1.6M Add +0.3%
PFE Pfizer Inc. 0.16% 57,893 $1.6M Reduce -4.0%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.15% 8,469 $1.5M Add +0.2%
INTC Intel Corp. 0.14% 31,136 $1.4M Reduce -3.1%
VLTO Veralto Corp. 0.13% 14,511 $1.3M Reduce -35.7%
NVDA Nvidia Corp. 0.12% 1,367 $1.2M Reduce -4.7%
CVX Chevron Corp. 0.12% 7,769 $1.2M Reduce -0.4%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.12% 7,875 $1.2M Reduce -6.0%
POOL Pool Corp. 0.12% 2,861 $1.2M Reduce -47.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 8,780 $1.1M Reduce -3.6%
BMY Bristol-Myers Squibb Co. 0.11% 19,724 $1.1M Reduce -1.1%
GILD Gilead Sciences Inc. 0.11% 14,460 $1.1M No change
CARR Carrier Global Corp. 0.11% 18,018 $1.0M Add +0.5%
PM Philip Morris International 0.10% 11,257 $1.0M Reduce -0.4%
NSC Norfolk Southern Corp. 0.10% 4,025 $1.0M Add +1.5%
CASY Casey's General Stores Inc. 0.10% 3,200 $1.0M New
MMM 3M Co. 0.10% 9,169 $973K No change
MRO Marathon Oil Corp. 0.10% 33,588 $952K No change
NOC Northrop Grumman Corp. 0.10% 1,972 $944K Add +2.0%
ROST Ross Stores Inc. 0.10% 6,430 $944K No change
JPM JPMorgan Chase & Co. 0.09% 4,572 $916K Add +0.6%
FBIN Fortune Brands Innovations I 0.09% 10,347 $876K No change
FLO Flowers Foods Inc. 0.09% 36,075 $857K Reduce -4.0%
HPQ HP Inc. 0.08% 27,700 $837K No change
K Kellanova 0.08% 14,100 $808K No change
CI Cigna Holding Co. filed as CIGNA CORP 0.08% 2,187 $794K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.08% 20,385 $773K Reduce -2.9%
CSX CSX Corp. 0.07% 17,674 $655K Add +0.6%
WSM Williams-Sonoma Inc. 0.06% 2,013 $639K Add +0.7%
BRK.A Berkshire Hathaway Inc. Class A 0.06% 1 $634K No change
CAT Caterpillar Inc. 0.06% 1,653 $606K No change
TRMB Trimble Inc. 0.06% 9,312 $599K Reduce -0.3%
EOG EOG Resources Inc. 0.06% 4,653 $595K Reduce -7.7%
OTIS Otis Worldwide Corp. 0.06% 5,959 $592K No change
TSCO Tractor Supply Company 0.06% 2,252 $589K Add +1.7%
WBA Walgreens Boots Alliance Inc. 0.06% 25,753 $559K No change
EQIX Equinix Inc. 0.06% 676 $558K Add +7.6%
COP Conocophillips 0.06% 4,377 $557K Add +5.4%
ORCL Oracle Corp. 0.06% 4,411 $554K Reduce -6.2%
LIN Linde PLC 0.05% 1,151 $534K Reduce -1.6%
APH Amphenol Corp. Class A 0.05% 4,615 $532K Reduce -2.6%
ALCO Alico Inc. 0.05% 17,866 $523K No change
MDLZ Mondelez International Inc. Class A 0.05% 7,247 $507K Add +1.6%
GPC Genuine Parts Co. 0.05% 3,255 $504K No change
DUK Duke Energy Corp. 0.05% 5,139 $497K Reduce -3.3%
PANW Palo Alto Networks Inc. 0.05% 1,711 $486K Reduce -7.3%
GE General Electric 0.04% 2,487 $436K Add +2.4%
CVS CVS Health Corp. 0.04% 5,408 $431K Reduce -6.2%
CMI Cummins Inc. 0.04% 1,421 $419K Reduce -5.3%
DRI Darden Restaurants Inc. 0.04% 2,500 $418K No change
T AT&T Inc. 0.04% 23,252 $409K Reduce -0.8%
RHHBY Roche Holdings Ltd.-Spons ADR 0.04% 12,700 $405K No change
HEI Heico Corp. 0.04% 2,115 $404K No change
UNH Unitedhealth Group Inc. 0.04% 787 $389K Reduce -7.1%
AME Ametek Inc. 0.04% 1,967 $360K Reduce -6.3%
WELL Welltower Inc. 0.04% 3,850 $360K No change
GIS General Mills Inc. 0.04% 5,074 $355K Add +0.8%
INGR Ingredion Inc. 0.04% 3,000 $351K No change
RBC RBC Bearings Inc. 0.04% 1,290 $349K Reduce -3.7%
ALL Allstate Corp. 0.04% 2,000 $346K No change
ASML ASML Holding NV-NY Reg SHS 0.03% 352 $342K Add +6.7%
HPE Hewlett Packard Enterprise 0.03% 19,200 $340K No change
LHX L3HARRIS Technologies Inc. 0.03% 1,595 $340K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.03% 5,300 $334K No change
TECH Bio-Techne Corp. 0.03% 4,600 $324K No change
EFX Equifax Inc. 0.03% 1,212 $324K Add +1.0%
WM Waste Management Inc. 0.03% 1,423 $303K Add +0.2%
TMUS T-Mobile US Inc. 0.03% 1,805 $295K Reduce -12.2%
TXN Texas Instruments Inc. 0.03% 1,689 $294K Add +2.4%
ETN Eaton Corp. PLC 0.03% 936 $293K Add +4.0%
ADBE Adobe Inc. 0.03% 570 $288K Reduce -3.4%
HSIC Henry Schein Inc. 0.03% 3,750 $283K No change
GOOG Alphabet Inc. Class C 0.03% 1,851 $282K Add +12.9%
WEX Wex Inc. 0.03% 1,189 $282K No change
MO Altria Group Inc. 0.03% 6,450 $281K Reduce -5.2%
RSG Republic Services Inc. 0.03% 1,379 $264K Add +2.1%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.03% 2,140 $261K Reduce -25.9%
CTAS Cintas Corp. 0.03% 363 $249K Reduce -49.1%
WY Weyerhaeuser Co. 0.02% 6,680 $240K No change
KMB Kimberly-Clark Corp. 0.02% 1,725 $223K No change
MCHP Microchip Technology Inc. 0.02% 2,425 $218K Reduce -11.8%
PSX Phillips 66 0.02% 1,305 $213K New
USB US Bancorp 0.02% 4,776 $213K Reduce -15.4%
CNMD Conmed Corp. 0.02% 2,625 $210K No change
GD General Dynamics Corp. 0.02% 737 $208K New
DD Dupont DE Nemours Inc. 0.02% 2,674 $205K No change
PRU Prudential Financial Inc. 0.02% 1,750 $205K Reduce -70.8%
KMI Kinder Morgan Inc. 0.02% 10,000 $183K No change
BSTK Brite-Strike Tactical Illumi 0.00% 53,000 $0 No change

Portfolio Sells Q4 2023 → Q1 2024
AAPL Apple Inc. Reduce -0.9% 5.23% −1.09
NKE Nike Inc. Class B Reduce -1.0% 1.75% −0.43
MCD McDonald's Corp. Reduce -0.0% 2.21% −0.27
FDS Factset Research Systems Inc. Reduce -0.1% 1.45% −0.18
AMT American Tower Corp. Reduce -0.7% 0.82% −0.14
IDXX Idexx Laboratories Inc. Reduce -2.1% 1.02% −0.12
PFF iShares Preferred & Income S Reduce -24.5% 0.32% −0.12
POOL Pool Corp. Reduce -47.1% 0.12% −0.12
JNJ Johnson & Johnson Reduce -0.3% 1.83% −0.11
APD Air Products & Chemicals Inc. Reduce -4.2% 0.39% −0.10
ZTS Zoetis Inc. Reduce -1.8% 0.37% −0.10
INTU Intuit Inc. Reduce -1.0% 2.64% −0.09
PAYX Paychex Inc. Reduce -13.7% 0.43% −0.08
VLTO Veralto Corp. Reduce -35.7% 0.13% −0.07
RTX RTX Corp. Reduce -19.8% 0.46% −0.07
KO The Coca-Cola Co. Reduce -2.8% 1.12% −0.06
PGR Progressive Corp. Sold out 0.00% −0.05
PRU Prudential Financial Inc. Reduce -70.8% 0.02% −0.05
INTC Intel Corp. Reduce -3.1% 0.14% −0.04
DE Deere & Co. Reduce -6.7% 0.30% −0.03
HON Honeywell International Inc. Reduce -1.7% 0.31% −0.03
UNP Union Pacific Corp. Reduce -1.0% 0.36% −0.03
ADI Analog Devices Inc. Reduce -1.7% 0.30% −0.03
CSCO Cisco Systems Inc. Reduce -1.1% 0.27% −0.02
PFE Pfizer Inc. Reduce -4.0% 0.16% −0.02
ITW Illinois Tool Works Reduce -0.4% 0.50% −0.02
BDX Becton Dickinson and Co. Reduce -0.7% 0.38% −0.02
ANSS Ansys Inc. Sold out 0.00% −0.02
CTSH Cognizant Tech Solutions-A Sold out 0.00% −0.02
CTAS Cintas Corp. Reduce -49.1% 0.03% −0.02
VZ Verizon Communications Inc. Reduce -8.8% 0.25% −0.01
QCOM Qualcomm Inc. Reduce -10.2% 0.79% −0.01
PM Philip Morris International Reduce -0.4% 0.10% −0.01
PANW Palo Alto Networks Inc. Reduce -7.3% 0.05% −0.01
EL Estee Lauder Companies Class A Reduce -6.0% 0.12% −0.01
ADBE Adobe Inc. Reduce -3.4% 0.03% −0.01
UNH Unitedhealth Group Inc. Reduce -7.1% 0.04% −0.01
TROW T Rowe Price Group Inc. Reduce -25.9% 0.03% −0.01
HSY The Hershey Co. Reduce -1.1% 0.20% −0.01
ULTA Ulta Beauty Inc. Reduce -1.8% 0.37% −0.01
RBC RBC Bearings Inc. Reduce -3.7% 0.04% −0.01
EOG EOG Resources Inc. Reduce -7.7% 0.06% −0.01
TMUS T-Mobile US Inc. Reduce -12.2% 0.03% −0.01
CVS CVS Health Corp. Reduce -6.2% 0.04% −0.01
DUK Duke Energy Corp. Reduce -3.3% 0.05% −0.01
USB US Bancorp Reduce -15.4% 0.02% −0.00
MCHP Microchip Technology Inc. Reduce -11.8% 0.02% −0.00
FLO Flowers Foods Inc. Reduce -4.0% 0.09% −0.00
DHR Danaher Corp. Reduce -1.4% 1.91% −0.00
BMY Bristol-Myers Squibb Co. Reduce -1.1% 0.11% −0.00

Portfolio Buys Q4 2023 → Q1 2024
LLY Eli Lilly & Co. Add +0.1% 3.42% +0.69
MSFT Microsoft Corp. Add +0.4% 5.87% +0.30
ECL Ecolab Inc. Add +3.1% 1.70% +0.19
ABBV Abbvie Inc. Add +0.1% 1.92% +0.18
CASY Casey's General Stores Inc. New 0.10% +0.10
XOM Exxon Mobil Corp. Add +0.1% 1.19% +0.10
CI Cigna Holding Co. New 0.08% +0.08
BRK.B Berkshire Hathaway Inc. Class B Add +2.5% 0.62% +0.07
ORLY O'reilly Automotive Inc. Add +4.3% 0.52% +0.07
LOW Lowe's Cos Inc. Add +0.1% 0.59% +0.04
FTV Fortive Corp. Add +0.6% 0.40% +0.04
SYY Sysco Corp. Add +1.4% 0.55% +0.03
PSX Phillips 66 New 0.02% +0.02
GD General Dynamics Corp. New 0.02% +0.02
WSM Williams-Sonoma Inc. Add +0.7% 0.06% +0.02
IBM Intl Business Machines Corp. Add +0.3% 0.17% +0.01
NEE Nextera Energy Inc. Add +2.1% 1.55% +0.01
LMT Lockheed Martin Corp. Add +10.8% 0.27% +0.01
GE General Electric Add +2.4% 0.04% +0.01
JPM JPMorgan Chase & Co. Add +0.6% 0.09% +0.01
TSCO Tractor Supply Company Add +1.7% 0.06% +0.01
ASML ASML Holding NV-NY Reg SHS Add +6.7% 0.03% +0.01
ETN Eaton Corp. PLC Add +4.0% 0.03% +0.01
COP Conocophillips Add +5.4% 0.06% +0.00
GOOG Alphabet Inc. Class C Add +12.9% 0.03% +0.00
WM Waste Management Inc. Add +0.2% 0.03% +0.00
NSC Norfolk Southern Corp. Add +1.5% 0.10% +0.00
RSG Republic Services Inc. Add +2.1% 0.03% +0.00
EQIX Equinix Inc. Add +7.6% 0.06% +0.00
EFX Equifax Inc. Add +1.0% 0.03% +0.00
CSX CSX Corp. Add +0.6% 0.07% +0.00
GIS General Mills Inc. Add +0.8% 0.04% +0.00
JKHY Jack Henry & Associates Inc. Add +0.2% 0.15% −0.00
TXN Texas Instruments Inc. Add +2.4% 0.03% −0.00
NOC Northrop Grumman Corp. Add +2.0% 0.10% −0.00
MDLZ Mondelez International Inc. Class A Add +1.6% 0.05% −0.00
CARR Carrier Global Corp. Add +0.5% 0.11% −0.01
PPG PPG Industries Inc. Add +0.6% 0.18% −0.02
SBUX Starbucks Corp. Add +2.3% 0.26% −0.03
AMGN Amgen Inc. Add +0.2% 0.33% −0.03
PEP Pepsico Inc. Add +1.2% 1.63% −0.04
ACN Accenture PLC Class A Add +3.9% 0.95% −0.04
ABT Abbott Laboratories Add +0.4% 2.60% −0.07
WSO Watsco Inc. Add +0.2% 1.44% −0.08
BF.B Brown-Forman Corp. Class B Add +2.9% 0.65% −0.09
BR Broadridge Financial Solutio Add +0.3% 2.19% −0.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 155$946.7MAAPL, MA, TJX, LLY, MSFT
Q1 2026 151$918.9MAAPL, TJX, MA, MSFT, LLY
Q4 2025 149$984.3MAAPL, MSFT, MA, TJX, LLY
Q3 2025 149$1.0BMSFT, AAPL, MA, TJX, ADP
Q2 2025 147$994.3MMSFT, MA, AAPL, ADP, TJX
Q1 2025 151$1.0BAAPL, MA, ADP, MSFT, TJX
Q4 2024 154$1.0BAAPL, MA, MSFT, ADP, TJX
Q3 2024 160$1.0BAAPL, MA, MSFT, ADP, TJX
Q2 2024 159$981.4MAAPL, MSFT, MA, ADP, TJX
Q1 2024 163$989.6MMA, MSFT, AAPL, ADP, SYK