Wendell David Associates Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Wendell David Associates Inc. reported 149 stock positions worth $1.0 billion. Its top holding was Microsoft (MSFT) at 6.8% of the portfolio, followed by Apple (AAPL, 6.7%) and Mastercard Class A (MA, 6.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 1, added to 30 and reduced 58. The biggest buy was Alphabet Class A (GOOGL, shares +0%) and the biggest sale Fiserv (FISV, shares −14%).

Most Recent 13F
Q2 2026
Location
PORTSMOUTH, NH
CIK
0000878228
Portfolio Value
$1.0B (Q3 2025)
SEC Filing
0000878228-25-000017 ↗ filed Oct 30, 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 Q4 2024 Q1 2025: $1.0B Q1 2025 Q2 2025: $994.3M Q2 2025 Q3 2025: $1.0B $1.0B Q3 2025 Q4 2025: $984.3M Q4 2025 Q1 2026: $918.9M Q1 2026 Q2 2026: $946.7M Q2 2026

Holdings 149 stocks · $1.0B
MSFT Microsoft Corp. 6.83% 133,594 $69.2M Reduce -0.1%
AAPL Apple Inc. 6.68% 265,723 $67.7M Reduce -1.8%
MA Mastercard Inc. Class A 6.47% 115,143 $65.5M Add +0.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 5.43% 380,345 $55.0M Reduce -0.1%
ADP Automatic Data Processing 5.22% 180,129 $52.9M Add +0.1%
SYK Stryker Corp. 4.16% 113,942 $42.1M Add +0.3%
LLY Eli Lilly & Co. 3.17% 42,149 $32.2M Add +1.2%
ABT Abbott Laboratories 2.89% 218,203 $29.2M Add +0.2%
GOOGL Alphabet Inc. Class A 2.83% 117,899 $28.7M Add +0.3%
INTU Intuit Inc. 2.72% 40,374 $27.6M Add +1.1%
BR Broadridge Financial Solutio 2.38% 101,134 $24.1M Add +0.2%
ABBV Abbvie Inc. 2.28% 99,752 $23.1M Reduce -0.0%
MCD McDonald's Corp. 2.23% 74,210 $22.6M Reduce -0.1%
ECL Ecolab Inc. 1.93% 71,278 $19.5M Add +0.6%
JNJ Johnson & Johnson 1.90% 103,757 $19.2M Reduce -0.1%
NEE Nextera Energy Inc. 1.86% 249,119 $18.8M Add +0.3%
COST Costco Wholesale Corp. 1.55% 16,931 $15.7M Add +0.3%
MPC Marathon Petroleum Corp. 1.46% 76,613 $14.8M No change
FISV Fiserv Inc. 1.44% 113,433 $14.6M Reduce -14.4%
PG The Procter & Gamble Co. 1.40% 92,365 $14.2M Reduce 0.0%
CHD Church & Dwight Co. Inc. 1.33% 153,245 $13.4M Reduce -4.9%
WSO Watsco Inc. 1.28% 32,083 $13.0M Add +0.0%
KO The Coca-Cola Co. 1.13% 172,882 $11.5M Reduce -0.1%
PEP Pepsico Inc. 1.05% 75,520 $10.6M Reduce -3.2%
XOM Exxon Mobil Corp. 1.05% 94,015 $10.6M No change
HD Home Depot Inc. 1.04% 26,015 $10.5M Reduce -0.1%
MKC McCormick & Co.-Non VTG SHRS 1.02% 154,608 $10.3M Reduce -2.7%
DHR Danaher Corp. 0.96% 49,167 $9.7M Reduce -5.1%
NKE Nike Inc. Class B 0.92% 132,950 $9.3M Reduce -3.7%
WMT Walmart Inc. 0.85% 83,580 $8.6M Reduce -0.3%
AMZN Amazon.com Inc. 0.85% 39,019 $8.6M No change
IDXX Idexx Laboratories Inc. 0.83% 13,121 $8.4M Reduce -0.2%
SHW The Sherwin-Williams Co. 0.80% 23,326 $8.1M Add +0.7%
RTX RTX Corp. 0.74% 44,876 $7.5M Reduce -0.6%
BRK.B Berkshire Hathaway Inc. Class B 0.71% 14,360 $7.2M Add +0.5%
VEEV Veeva Systems Inc. Class A 0.68% 23,214 $6.9M Add +19.7%
FDS Factset Research Systems Inc. 0.68% 24,001 $6.9M Reduce -1.9%
AMT American Tower Corp. 0.68% 35,633 $6.9M Add +0.3%
V Visa Inc. Class A 0.66% 19,527 $6.7M Reduce -0.7%
APH Amphenol Corp. Class A 0.64% 52,420 $6.5M Add +27.0%
CL Colgate-Palmolive Co. 0.61% 77,544 $6.2M Reduce -0.3%
ORLY O'reilly Automotive Inc. 0.61% 56,890 $6.1M Reduce -0.1%
QCOM Qualcomm Inc. 0.57% 34,777 $5.8M Add +0.1%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.56% 18,174 $5.6M Add +14.1%
ACN Accenture PLC Class A 0.52% 21,452 $5.3M Reduce -22.2%
SYY Sysco Corp. 0.49% 60,675 $5.0M Reduce -0.0%
LOW Lowe's Cos Inc. 0.48% 19,407 $4.9M Reduce -1.1%
CASY Casey's General Stores Inc. 0.47% 8,440 $4.8M Add +21.0%
MRK Merck & Co. Inc. 0.46% 54,909 $4.6M No change
EMR Emerson Electric Co. 0.43% 33,356 $4.4M No change
APD Air Products & Chemicals Inc. 0.42% 15,780 $4.3M No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.41% 4,313 $4.1M Reduce -0.0%
FAST Fastenal Co. 0.38% 78,400 $3.8M No change
LMT Lockheed Martin Corp. 0.36% 7,329 $3.7M No change
NVO Novo-Nordisk A/S-Spons ADR 0.36% 65,847 $3.7M Reduce -9.6%
ITW Illinois Tool Works 0.36% 13,950 $3.6M Reduce -5.3%
PAYX Paychex Inc. 0.34% 27,268 $3.5M Reduce -0.1%
DE Deere & Co. 0.34% 7,445 $3.4M Reduce -6.3%
ADI Analog Devices Inc. 0.34% 13,846 $3.4M No change
EQIX Equinix Inc. 0.33% 4,292 $3.4M Reduce -1.9%
ISRG Intuitive Surgical Inc. 0.32% 7,275 $3.3M No change
CSCO Cisco Systems Inc. 0.31% 46,418 $3.2M No change
AMGN Amgen Inc. 0.30% 10,864 $3.1M No change
HON Honeywell International Inc. 0.29% 13,969 $2.9M Reduce -0.4%
NVDA Nvidia Corp. 0.26% 13,877 $2.6M Reduce -3.1%
BCPC Balchem Corp. 0.25% 17,127 $2.6M No change
BDX Becton Dickinson and Co. 0.25% 13,297 $2.5M Reduce -2.6%
UNP Union Pacific Corp. 0.24% 10,396 $2.5M Reduce -1.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.23% 8,257 $2.3M No change
DKS Dick's Sporting Goods Inc. 0.20% 9,346 $2.1M Add +7.4%
PFF iShares Preferred & Income S 0.20% 63,162 $2.0M Reduce -0.1%
PM Philip Morris International 0.18% 11,157 $1.8M No change
HEI Heico Corp. 0.17% 5,244 $1.7M Add +0.3%
VZ Verizon Communications Inc. 0.17% 38,475 $1.7M Reduce -0.3%
GILD Gilead Sciences Inc. 0.15% 13,440 $1.5M No change
PFE Pfizer Inc. 0.15% 57,687 $1.5M Add +1.1%
MMM 3M Co. 0.13% 8,536 $1.3M No change
PPG PPG Industries Inc. 0.13% 12,457 $1.3M No change
SNPS Synopsys Inc. 0.13% 2,638 $1.3M Add +78.0%
JPM JPMorgan Chase & Co. 0.12% 4,000 $1.3M No change
VLTO Veralto Corp. 0.12% 11,736 $1.3M Reduce -0.3%
TMO Thermo Fisher Scientific Inc. 0.12% 2,577 $1.3M Reduce -3.9%
ORCL Oracle Corp. 0.12% 4,411 $1.2M No change
COP Conocophillips 0.12% 12,991 $1.2M Reduce -0.4%
CVX Chevron Corp. 0.12% 7,866 $1.2M Add +1.3%
NSC Norfolk Southern Corp. 0.12% 4,025 $1.2M No change
NOC Northrop Grumman Corp. 0.12% 1,972 $1.2M No change
K Kellanova 0.11% 14,100 $1.2M No change
ULTA Ulta Beauty Inc. 0.11% 2,055 $1.1M No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.11% 7,419 $1.1M No change
EXPD Expeditors Intl Wash Inc. 0.11% 8,900 $1.1M Reduce -1.5%
SBUX Starbucks Corp. 0.11% 12,725 $1.1M Reduce -0.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.10% 20,385 $1.1M No change
BF.B Brown-Forman Corp. Class B 0.10% 37,875 $1.0M Reduce -62.6%
HSY The Hershey Co. 0.10% 5,369 $1.0M Add +3.4%
CARR Carrier Global Corp. 0.10% 16,663 $995K Reduce -2.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 7,810 $894K No change
GOOG Alphabet Inc. Class C 0.09% 3,618 $881K Add +9.1%
EW Edwards Lifesciences Corp. 0.08% 10,620 $826K No change
ROST Ross Stores Inc. 0.07% 4,990 $760K Reduce -2.4%
BRK.A Berkshire Hathaway Inc. Class A 0.07% 1 $754K No change
HPQ HP Inc. 0.07% 27,700 $754K No change
ZTS Zoetis Inc. 0.07% 5,082 $744K Reduce -11.9%
GE General Electric filed as GE AEROSPACE 0.07% 2,461 $740K Reduce -1.1%
PANW Palo Alto Networks Inc. 0.07% 3,490 $711K Reduce -3.0%
TRMB Trimble Inc. 0.07% 8,700 $710K No change
CAT Caterpillar Inc. 0.07% 1,443 $689K No change
WSM Williams-Sonoma Inc. 0.07% 3,500 $684K No change
CI Cigna Holding Co. filed as THE CIGNA GROUP 0.07% 2,317 $668K No change
BMY Bristol-Myers Squibb Co. 0.06% 14,031 $633K Reduce -24.7%
T AT&T Inc. 0.06% 21,986 $621K Add +0.7%
ALCO Alico Inc. 0.06% 17,866 $619K No change
TSCO Tractor Supply Company 0.06% 9,910 $564K No change
FBIN Fortune Brands Innovations I 0.05% 10,347 $552K No change
LIN Linde PLC 0.05% 1,076 $511K No change
RHHBY Roche Holdings Ltd.-Spons ADR 0.05% 12,100 $506K No change
RBC RBC Bearings Inc. 0.05% 1,290 $503K No change
LHX L3HARRIS Technologies Inc. 0.05% 1,595 $487K No change
DUK Duke Energy Corp. 0.05% 3,873 $479K No change
OTIS Otis Worldwide Corp. 0.05% 5,223 $478K Reduce -4.1%
DRI Darden Restaurants Inc. 0.05% 2,500 $476K No change
CSX CSX Corp. 0.05% 13,368 $475K No change
MO Altria Group Inc. 0.05% 7,140 $472K Add +10.3%
HPE Hewlett Packard Enterprise 0.05% 19,200 $472K No change
GPC Genuine Parts Co. 0.05% 3,305 $458K No change
AVGO Broadcom Inc. 0.04% 1,347 $444K Add +0.8%
MDLZ Mondelez International Inc. Class A 0.04% 6,932 $433K Reduce -1.6%
ALL Allstate Corp. 0.04% 2,000 $429K No change
CTAS Cintas Corp. 0.04% 2,042 $419K No change
GEV GE Vernova Inc. 0.04% 660 $406K Reduce -0.9%
TMUS T-Mobile US Inc. 0.04% 1,655 $396K No change
AME Ametek Inc. 0.04% 2,075 $390K No change
EOG EOG Resources Inc. 0.04% 3,453 $387K No change
INGR Ingredion Inc. 0.04% 3,000 $366K No change
ETN Eaton Corp. PLC 0.03% 921 $345K Reduce -1.6%
WM Waste Management Inc. 0.03% 1,378 $304K No change
RSG Republic Services Inc. 0.03% 1,275 $293K Reduce -5.8%
CSL Carlisle Cos Inc. 0.03% 881 $290K New
FLO Flowers Foods Inc. 0.03% 22,050 $288K Reduce -33.8%
TXN Texas Instruments Inc. 0.03% 1,559 $286K Reduce -7.7%
KMI Kinder Morgan Inc. 0.03% 10,000 $283K No change
GD General Dynamics Corp. 0.02% 700 $239K No change
TT Trane Technologies PLC 0.02% 565 $238K Reduce -2.8%
META Meta Platforms Inc. Class A 0.02% 323 $237K No change
UNH Unitedhealth Group Inc. 0.02% 680 $235K Reduce -9.9%
GLW Corning Inc. 0.02% 2,477 $203K New
GIS General Mills Inc. 0.02% 4,032 $203K No change
IMRX Immuneering Corp. Class A 0.01% 15,000 $105K New
BSTK Brite-Strike Tactical Illumi 0.00% 53,000 $1K No change

Portfolio Sells Q2 2025 → Q3 2025
FISV Fiserv Inc. Reduce -14.4% 1.44% −0.85
FDS Factset Research Systems Inc. Reduce -1.9% 0.68% −0.42
ACN Accenture PLC Class A Reduce -22.2% 0.52% −0.31
CHD Church & Dwight Co. Inc. Reduce -4.9% 1.33% −0.23
MKC McCormick & Co.-Non VTG SHRS Reduce -2.7% 1.02% −0.19
BF.B Brown-Forman Corp. Class B Reduce -62.6% 0.10% −0.17
NVO Novo-Nordisk A/S-Spons ADR Reduce -9.6% 0.36% −0.14
CL Colgate-Palmolive Co. Reduce -0.3% 0.61% −0.10
KO The Coca-Cola Co. Reduce -0.1% 1.13% −0.10
PG The Procter & Gamble Co. Reduce 0.0% 1.40% −0.08
NKE Nike Inc. Class B Reduce -3.7% 0.92% −0.07
DE Deere & Co. Reduce -6.3% 0.34% −0.07
DHR Danaher Corp. Reduce -5.1% 0.96% −0.07
PAYX Paychex Inc. Reduce -0.1% 0.34% −0.06
GWW WW Grainger Inc. Reduce -0.0% 0.41% −0.05
V Visa Inc. Class A Reduce -0.7% 0.66% −0.04
HON Honeywell International Inc. Reduce -0.4% 0.29% −0.04
CARR Carrier Global Corp. Reduce -2.6% 0.10% −0.03
FLO Flowers Foods Inc. Reduce -33.8% 0.03% −0.03
BMY Bristol-Myers Squibb Co. Reduce -24.7% 0.06% −0.02
KMB Kimberly-Clark Corp. Sold out 0.00% −0.02
EQIX Equinix Inc. Reduce -1.9% 0.33% −0.02
ZTS Zoetis Inc. Reduce -11.9% 0.07% −0.02
SBUX Starbucks Corp. Reduce -0.8% 0.11% −0.01
ITW Illinois Tool Works Reduce -5.3% 0.36% −0.01
TXN Texas Instruments Inc. Reduce -7.7% 0.03% −0.01
OTIS Otis Worldwide Corp. Reduce -4.1% 0.05% −0.01
MDLZ Mondelez International Inc. Class A Reduce -1.6% 0.04% −0.01
RSG Republic Services Inc. Reduce -5.8% 0.03% −0.00
PANW Palo Alto Networks Inc. Reduce -3.0% 0.07% −0.00
TT Trane Technologies PLC Reduce -2.8% 0.02% −0.00
UNP Union Pacific Corp. Reduce -1.4% 0.24% −0.00
VZ Verizon Communications Inc. Reduce -0.3% 0.17% −0.00
UNH Unitedhealth Group Inc. Reduce -9.9% 0.02% −0.00
ETN Eaton Corp. PLC Reduce -1.6% 0.03% +0.00
PFF iShares Preferred & Income S Reduce -0.1% 0.20% +0.00
COP Conocophillips Reduce -0.4% 0.12% +0.00
EXPD Expeditors Intl Wash Inc. Reduce -1.5% 0.11% +0.00
VLTO Veralto Corp. Reduce -0.3% 0.12% +0.00
GEV GE Vernova Inc. Reduce -0.9% 0.04% +0.00
GE General Electric Reduce -1.1% 0.07% +0.01
BDX Becton Dickinson and Co. Reduce -2.6% 0.25% +0.01
ROST Ross Stores Inc. Reduce -2.4% 0.07% +0.01
PEP Pepsico Inc. Reduce -3.2% 1.05% +0.01
TMO Thermo Fisher Scientific Inc. Reduce -3.9% 0.12% +0.01
WMT Walmart Inc. Reduce -0.3% 0.85% +0.03
NVDA Nvidia Corp. Reduce -3.1% 0.26% +0.03
SYY Sysco Corp. Reduce -0.0% 0.49% +0.03
LOW Lowe's Cos Inc. Reduce -1.1% 0.48% +0.04
MCD McDonald's Corp. Reduce -0.1% 2.23% +0.04

Portfolio Buys Q2 2025 → Q3 2025
GOOGL Alphabet Inc. Class A Add +0.3% 2.83% +0.75
APH Amphenol Corp. Class A Add +27.0% 0.64% +0.23
NEE Nextera Energy Inc. Add +0.3% 1.86% +0.12
VEEV Veeva Systems Inc. Class A Add +19.7% 0.68% +0.12
CASY Casey's General Stores Inc. Add +21.0% 0.47% +0.11
SNPS Synopsys Inc. Add +78.0% 0.13% +0.05
AJG Arthur J Gallagher & Co. Add +14.1% 0.56% +0.04
DKS Dick's Sporting Goods Inc. Add +7.4% 0.20% +0.03
CSL Carlisle Cos Inc. New 0.03% +0.03
GOOG Alphabet Inc. Class C Add +9.1% 0.09% +0.03
GLW Corning Inc. New 0.02% +0.02
BRK.B Berkshire Hathaway Inc. Class B Add +0.5% 0.71% +0.01
QCOM Qualcomm Inc. Add +0.1% 0.57% +0.01
HSY The Hershey Co. Add +3.4% 0.10% +0.01
IMRX Immuneering Corp. Class A New 0.01% +0.01
CVX Chevron Corp. Add +1.3% 0.12% +0.01
MO Altria Group Inc. Add +10.3% 0.05% +0.01
AVGO Broadcom Inc. Add +0.8% 0.04% +0.01
ECL Ecolab Inc. Add +0.6% 1.93% +0.01
PFE Pfizer Inc. Add +1.1% 0.15% +0.01
T AT&T Inc. Add +0.7% 0.06% −0.00
SHW The Sherwin-Williams Co. Add +0.7% 0.80% −0.00
HEI Heico Corp. Add +0.3% 0.17% −0.01
MA Mastercard Inc. Class A Add +0.1% 6.47% −0.03
BR Broadridge Financial Solutio Add +0.2% 2.38% −0.09
LLY Eli Lilly & Co. Add +1.2% 3.17% −0.09
ABT Abbott Laboratories Add +0.2% 2.89% −0.09
AMT American Tower Corp. Add +0.3% 0.68% −0.11
COST Costco Wholesale Corp. Add +0.3% 1.55% −0.13
WSO Watsco Inc. Add +0.0% 1.28% −0.14
SYK Stryker Corp. Add +0.3% 4.16% −0.36
ADP Automatic Data Processing Add +0.1% 5.22% −0.36
INTU Intuit Inc. Add +1.1% 2.72% −0.44

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