Wendell David Associates Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 17, 2025), Wendell David Associates Inc. reported 154 stock positions worth $1.0 billion. Its top holding was Apple (AAPL) at 7.4% of the portfolio, followed by Mastercard Class A (MA, 6.3%) and Microsoft (MSFT, 5.8%). Compared with Q3 2024, it opened 1 new position, sold out of 7, added to 22 and reduced 79. The biggest buy was Alphabet Class A (GOOGL, shares +4%) and the biggest sale Danaher (DHR, shares −10%).

Most Recent 13F
Q2 2026
Location
PORTSMOUTH, NH
CIK
0000878228
Portfolio Value
$1.0B (Q4 2024)
SEC Filing
0000878228-25-000002 ↗ filed Jan 17, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $989.6M Q1 2024 Q2 2024: $981.4M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $1.0B $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 154 stocks · $1.0B
AAPL Apple Inc. 7.36% 297,451 $74.5M Reduce -1.0%
MA Mastercard Inc. Class A 6.29% 120,894 $63.7M Reduce -0.9%
MSFT Microsoft Corp. 5.79% 138,836 $58.5M Reduce -0.4%
ADP Automatic Data Processing 5.37% 185,653 $54.3M Reduce -1.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 4.75% 397,581 $48.0M Reduce -0.6%
SYK Stryker Corp. 4.27% 119,928 $43.2M Reduce -0.6%
LLY Eli Lilly & Co. 3.29% 43,075 $33.3M Reduce -0.7%
FISV Fiserv Inc. 2.75% 135,300 $27.8M Reduce -0.9%
ABT Abbott Laboratories 2.49% 222,208 $25.1M Reduce -0.6%
INTU Intuit Inc. 2.48% 39,853 $25.0M Reduce -0.4%
BR Broadridge Financial Solutio 2.35% 104,992 $23.7M Reduce -1.1%
GOOGL Alphabet Inc. Class A 2.18% 116,517 $22.1M Add +4.4%
MCD McDonald's Corp. 2.17% 75,715 $21.9M Reduce -1.4%
CHD Church & Dwight Co. Inc. 1.80% 173,665 $18.2M Reduce -0.7%
ABBV Abbvie Inc. 1.80% 102,174 $18.2M Reduce -1.8%
NEE Nextera Energy Inc. 1.79% 252,981 $18.1M Reduce -0.0%
ECL Ecolab Inc. 1.71% 73,738 $17.3M Reduce -2.5%
COST Costco Wholesale Corp. 1.63% 17,985 $16.5M Reduce -0.4%
JNJ Johnson & Johnson 1.59% 110,905 $16.0M Reduce -1.3%
PG The Procter & Gamble Co. 1.55% 93,280 $15.6M Reduce -0.2%
DHR Danaher Corp. 1.52% 67,078 $15.4M Reduce -9.8%
WSO Watsco Inc. 1.51% 32,217 $15.3M Reduce -0.7%
FDS Factset Research Systems Inc. 1.42% 29,977 $14.4M Reduce -2.3%
MKC McCormick & Co.-Non VTG SHRS 1.25% 165,660 $12.6M Add +1.3%
PEP Pepsico Inc. 1.24% 82,675 $12.6M Reduce -6.7%
NKE Nike Inc. Class B 1.21% 162,143 $12.3M Reduce -8.1%
KO The Coca-Cola Co. 1.10% 178,847 $11.1M Reduce -0.5%
HD Home Depot Inc. 1.08% 28,093 $10.9M Reduce -1.9%
MPC Marathon Petroleum Corp. 1.07% 77,770 $10.8M Add +0.1%
XOM Exxon Mobil Corp. 1.04% 98,115 $10.6M Reduce -2.1%
ACN Accenture PLC Class A 1.00% 28,798 $10.1M Add +2.4%
AMZN Amazon.com Inc. 0.90% 41,349 $9.1M Add +0.5%
SHW The Sherwin-Williams Co. 0.79% 23,519 $8.0M Add +0.1%
WMT Walmart Inc. 0.79% 88,275 $8.0M Reduce -0.7%
CL Colgate-Palmolive Co. 0.72% 79,919 $7.3M Reduce -2.8%
BRK.B Berkshire Hathaway Inc. Class B 0.66% 14,800 $6.7M Add +0.1%
AMT American Tower Corp. 0.65% 36,084 $6.6M Reduce -11.2%
NVO Novo-Nordisk A/S-Spons ADR 0.65% 76,847 $6.6M Add +0.3%
V Visa Inc. Class A 0.62% 19,880 $6.3M Reduce -1.7%
QCOM Qualcomm Inc. 0.62% 40,763 $6.3M Reduce -4.3%
IDXX Idexx Laboratories Inc. 0.58% 14,089 $5.8M Reduce -18.3%
LOW Lowe's Cos Inc. 0.55% 22,517 $5.6M Reduce -0.9%
BF.B Brown-Forman Corp. Class B 0.54% 145,048 $5.5M Reduce -1.9%
RTX RTX Corp. 0.52% 45,144 $5.2M Reduce -2.3%
MRK Merck & Co. Inc. 0.49% 50,169 $5.0M Reduce -2.6%
SYY Sysco Corp. 0.48% 63,400 $4.8M Reduce -6.5%
APD Air Products & Chemicals Inc. 0.46% 15,881 $4.6M No change
ORLY O'reilly Automotive Inc. 0.45% 3,873 $4.6M Reduce -12.6%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.45% 4,314 $4.5M Reduce -0.9%
PAYX Paychex Inc. 0.43% 31,378 $4.4M Reduce -8.7%
EMR Emerson Electric Co. 0.42% 33,980 $4.2M Reduce -4.6%
ITW Illinois Tool Works 0.40% 15,830 $4.0M Reduce -13.2%
EQIX Equinix Inc. 0.38% 4,101 $3.9M Add +38.9%
ISRG Intuitive Surgical Inc. 0.38% 7,275 $3.8M No change
LMT Lockheed Martin Corp. 0.34% 7,153 $3.5M Add +1.2%
HON Honeywell International Inc. 0.33% 14,735 $3.3M No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.33% 11,667 $3.3M Add +75.9%
BDX Becton Dickinson and Co. 0.32% 14,124 $3.2M Reduce -2.6%
BCPC Balchem Corp. 0.32% 19,577 $3.2M Reduce -5.8%
CSCO Cisco Systems Inc. 0.31% 53,718 $3.2M Reduce -0.4%
AMGN Amgen Inc. 0.30% 11,547 $3.0M No change
ADI Analog Devices Inc. 0.30% 14,146 $3.0M Reduce -4.7%
FAST Fastenal Co. 0.28% 39,200 $2.8M No change
DE Deere & Co. 0.27% 6,467 $2.7M Reduce -4.1%
CASY Casey's General Stores Inc. 0.27% 6,855 $2.7M Add +16.4%
UNP Union Pacific Corp. 0.25% 10,971 $2.5M Reduce -0.2%
VEEV Veeva Systems Inc. Class A 0.24% 11,313 $2.4M Add +951.4%
TMO Thermo Fisher Scientific Inc. 0.22% 4,206 $2.2M Reduce -2.1%
PFF iShares Preferred & Income S 0.20% 65,775 $2.1M Reduce -16.5%
NVDA Nvidia Corp. 0.20% 15,047 $2.0M Add +0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 8,207 $1.8M Reduce -2.4%
DKS Dick's Sporting Goods Inc. 0.18% 7,833 $1.8M Add +63.1%
APH Amphenol Corp. Class A 0.16% 23,330 $1.6M Add +59.5%
VZ Verizon Communications Inc. 0.16% 39,567 $1.6M Reduce -1.9%
PFE Pfizer Inc. 0.15% 58,494 $1.6M Reduce -1.7%
PPG PPG Industries Inc. 0.15% 12,457 $1.5M Reduce -0.6%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.14% 8,319 $1.5M No change
EXPD Expeditors Intl Wash Inc. 0.14% 13,015 $1.4M Reduce -8.4%
EW Edwards Lifesciences Corp. 0.14% 18,795 $1.4M Reduce -20.6%
PM Philip Morris International 0.13% 11,207 $1.3M No change
ZTS Zoetis Inc. 0.13% 7,962 $1.3M Reduce -20.9%
COP Conocophillips 0.13% 12,941 $1.3M Add +195.7%
SBUX Starbucks Corp. 0.13% 13,977 $1.3M Reduce -14.8%
GILD Gilead Sciences Inc. 0.12% 13,640 $1.3M No change
VLTO Veralto Corp. 0.12% 12,059 $1.2M Reduce -5.9%
CARR Carrier Global Corp. 0.12% 17,203 $1.2M No change
BMY Bristol-Myers Squibb Co. 0.11% 20,201 $1.1M Add +5.2%
K Kellanova 0.11% 14,100 $1.1M No change
CVX Chevron Corp. 0.11% 7,769 $1.1M No change
MMM 3M Co. 0.11% 8,536 $1.1M No change
ROST Ross Stores Inc. 0.10% 6,510 $985K No change
JPM JPMorgan Chase & Co. 0.09% 4,000 $959K No change
NSC Norfolk Southern Corp. 0.09% 4,025 $945K No change
NOC Northrop Grumman Corp. 0.09% 1,972 $925K No change
HPQ HP Inc. 0.09% 27,700 $904K No change
ULTA Ulta Beauty Inc. 0.09% 2,065 $898K Reduce -8.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.09% 20,385 $896K No change
HSY The Hershey Co. 0.09% 5,195 $880K Reduce -15.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 7,880 $877K Reduce -1.3%
ORCL Oracle Corp. 0.07% 4,411 $735K No change
FBIN Fortune Brands Innovations I 0.07% 10,347 $707K No change
FLO Flowers Foods Inc. 0.07% 34,050 $703K Reduce -5.6%
BRK.A Berkshire Hathaway Inc. Class A 0.07% 1 $681K No change
PANW Palo Alto Networks Inc. 0.07% 3,682 $670K No change
TRMB Trimble Inc. 0.06% 9,202 $650K Reduce -1.2%
WSM Williams-Sonoma Inc. 0.06% 3,500 $648K Reduce -5.4%
CI Cigna Holding Co. filed as CIGNA CORPORATION 0.06% 2,187 $604K No change
GOOG Alphabet Inc. Class C 0.06% 3,124 $595K Add +14.4%
EOG EOG Resources Inc. 0.06% 4,653 $570K No change
DUK Duke Energy Corp. 0.06% 5,240 $565K Add +2.0%
TSCO Tractor Supply Company 0.05% 10,410 $552K No change
HEI Heico Corp. 0.05% 2,210 $525K Add +1.3%
CAT Caterpillar Inc. 0.05% 1,443 $523K No change
OTIS Otis Worldwide Corp. 0.05% 5,494 $509K Reduce -0.5%
CSX CSX Corp. 0.05% 15,474 $499K Reduce -12.4%
T AT&T Inc. 0.05% 21,747 $495K Reduce -2.4%
DRI Darden Restaurants Inc. 0.05% 2,500 $467K No change
ALCO Alico Inc. 0.05% 17,866 $463K No change
LIN Linde PLC 0.05% 1,096 $459K Reduce -18.0%
RHHBY Roche Holdings Ltd.-Spons ADR 0.04% 12,100 $422K Reduce -4.7%
MDLZ Mondelez International Inc. Class A 0.04% 7,047 $421K Reduce -2.8%
GE General Electric filed as GE AEROSPACE 0.04% 2,487 $415K No change
INGR Ingredion Inc. 0.04% 3,000 $413K No change
HPE Hewlett Packard Enterprise 0.04% 19,200 $410K No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 5,427 $407K Reduce -12.6%
CMI Cummins Inc. 0.04% 1,142 $398K No change
UNH Unitedhealth Group Inc. 0.04% 787 $398K No change
ALL Allstate Corp. 0.04% 2,000 $386K No change
RBC RBC Bearings Inc. 0.04% 1,290 $386K Reduce -3.7%
AME Ametek Inc. 0.04% 2,117 $382K No change
GPC Genuine Parts Co. 0.04% 3,255 $380K No change
TMUS T-Mobile US Inc. 0.04% 1,655 $365K Reduce -8.3%
CTAS Cintas Corp. 0.04% 1,967 $359K Add +7.4%
MO Altria Group Inc. 0.03% 6,450 $337K No change
LHX L3HARRIS Technologies Inc. 0.03% 1,595 $335K No change
TXN Texas Instruments Inc. 0.03% 1,689 $317K No change
ETN Eaton Corp. PLC 0.03% 936 $311K No change
AVGO Broadcom Inc. 0.03% 1,336 $310K No change
EFX Equifax Inc. 0.03% 1,212 $309K No change
FTV Fortive Corp. 0.03% 3,830 $287K Reduce -79.3%
WM Waste Management Inc. 0.03% 1,403 $283K No change
KMI Kinder Morgan Inc. 0.03% 10,000 $274K No change
RSG Republic Services Inc. 0.03% 1,354 $272K No change
HSIC Henry Schein Inc. 0.03% 3,750 $260K No change
TECH Bio-Techne Corp. 0.03% 3,600 $259K Reduce -21.7%
GIS General Mills Inc. 0.03% 4,032 $257K No change
WBA Walgreens Boots Alliance Inc. 0.02% 24,286 $227K Reduce -3.2%
TT Trane Technologies PLC 0.02% 616 $227K No change
WEX Wex Inc. 0.02% 1,189 $208K No change
PRU Prudential Financial Inc. 0.02% 1,750 $207K No change
KMB Kimberly-Clark Corp. 0.02% 1,575 $206K Reduce -8.7%
DD Dupont DE Nemours Inc. 0.02% 2,674 $204K No change
GEV GE Vernova Inc. 0.02% 618 $203K New
BSTK Brite-Strike Tactical Illumi 0.00% 53,000 $1K No change

Portfolio Sells Q3 2024 → Q4 2024
DHR Danaher Corp. Reduce -9.8% 1.52% −0.45
LLY Eli Lilly & Co. Reduce -0.7% 3.29% −0.39
NKE Nike Inc. Class B Reduce -8.1% 1.21% −0.28
IDXX Idexx Laboratories Inc. Reduce -18.3% 0.58% −0.26
NEE Nextera Energy Inc. Reduce -0.0% 1.79% −0.25
AMT American Tower Corp. Reduce -11.2% 0.65% −0.25
PEP Pepsico Inc. Reduce -6.7% 1.24% −0.20
ABBV Abbvie Inc. Reduce -1.8% 1.80% −0.17
JNJ Johnson & Johnson Reduce -1.3% 1.59% −0.16
BF.B Brown-Forman Corp. Class B Reduce -1.9% 0.54% −0.15
ECL Ecolab Inc. Reduce -2.5% 1.71% −0.14
KO The Coca-Cola Co. Reduce -0.5% 1.10% −0.13
FTV Fortive Corp. Reduce -79.3% 0.03% −0.11
CL Colgate-Palmolive Co. Reduce -2.8% 0.72% −0.10
MRO Marathon Oil Corp. Sold out 0.00% −0.09
XOM Exxon Mobil Corp. Reduce -2.1% 1.04% −0.08
QCOM Qualcomm Inc. Reduce -4.3% 0.62% −0.07
MRK Merck & Co. Inc. Reduce -2.6% 0.49% −0.07
MCD McDonald's Corp. Reduce -1.4% 2.17% −0.07
ITW Illinois Tool Works Reduce -13.2% 0.40% −0.06
ZTS Zoetis Inc. Reduce -20.9% 0.13% −0.06
PFF iShares Preferred & Income S Reduce -16.5% 0.20% −0.05
LOW Lowe's Cos Inc. Reduce -0.9% 0.55% −0.04
TMO Thermo Fisher Scientific Inc. Reduce -2.1% 0.22% −0.04
EXPD Expeditors Intl Wash Inc. Reduce -8.4% 0.14% −0.04
INTC Intel Corp. Sold out 0.00% −0.04
BCPC Balchem Corp. Reduce -5.8% 0.32% −0.03
ORLY O'reilly Automotive Inc. Reduce -12.6% 0.45% −0.03
ADI Analog Devices Inc. Reduce -4.7% 0.30% −0.03
HD Home Depot Inc. Reduce -1.9% 1.08% −0.03
SBUX Starbucks Corp. Reduce -14.8% 0.13% −0.03
SYY Sysco Corp. Reduce -6.5% 0.48% −0.03
HSY The Hershey Co. Reduce -15.6% 0.09% −0.03
GD General Dynamics Corp. Sold out 0.00% −0.02
MCHP Microchip Technology Inc. Sold out 0.00% −0.02
WY Weyerhaeuser Co. Sold out 0.00% −0.02
USB US Bancorp Sold out 0.00% −0.02
ADBE Adobe Inc. Sold out 0.00% −0.02
EL Estee Lauder Companies Class A Reduce -12.6% 0.04% −0.02
RTX RTX Corp. Reduce -2.3% 0.52% −0.02
BDX Becton Dickinson and Co. Reduce -2.6% 0.32% −0.02
WSO Watsco Inc. Reduce -0.7% 1.51% −0.02
VZ Verizon Communications Inc. Reduce -1.9% 0.16% −0.02
VLTO Veralto Corp. Reduce -5.9% 0.12% −0.02
LIN Linde PLC Reduce -18.0% 0.05% −0.02
EW Edwards Lifesciences Corp. Reduce -20.6% 0.14% −0.01
UNP Union Pacific Corp. Reduce -0.2% 0.25% −0.01
PPG PPG Industries Inc. Reduce -0.6% 0.15% −0.01
PFE Pfizer Inc. Reduce -1.7% 0.15% −0.01
FLO Flowers Foods Inc. Reduce -5.6% 0.07% −0.01

Portfolio Buys Q3 2024 → Q4 2024
GOOGL Alphabet Inc. Class A Add +4.4% 2.18% +0.41
VEEV Veeva Systems Inc. Class A Add +951.4% 0.24% +0.21
AMZN Amazon.com Inc. Add +0.5% 0.90% +0.16
AJG Arthur J Gallagher & Co. Add +75.9% 0.33% +0.15
EQIX Equinix Inc. Add +38.9% 0.38% +0.13
COP Conocophillips Add +195.7% 0.13% +0.08
DKS Dick's Sporting Goods Inc. Add +63.1% 0.18% +0.08
APH Amphenol Corp. Class A Add +59.5% 0.16% +0.07
CASY Casey's General Stores Inc. Add +16.4% 0.27% +0.06
ACN Accenture PLC Class A Add +2.4% 1.00% +0.05
NVDA Nvidia Corp. Add +0.2% 0.20% +0.03
GEV GE Vernova Inc. New 0.02% +0.02
BMY Bristol-Myers Squibb Co. Add +5.2% 0.11% +0.02
GOOG Alphabet Inc. Class C Add +14.4% 0.06% +0.02
BRK.B Berkshire Hathaway Inc. Class B Add +0.1% 0.66% +0.01
CTAS Cintas Corp. Add +7.4% 0.04% −0.00
DUK Duke Energy Corp. Add +2.0% 0.06% −0.00
HEI Heico Corp. Add +1.3% 0.05% −0.00
MKC McCormick & Co.-Non VTG SHRS Add +1.3% 1.25% −0.04
LMT Lockheed Martin Corp. Add +1.2% 0.34% −0.05
SHW The Sherwin-Williams Co. Add +0.1% 0.79% −0.07
MPC Marathon Petroleum Corp. Add +0.1% 1.07% −0.14
NVO Novo-Nordisk A/S-Spons ADR Add +0.3% 0.65% −0.22

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