Willis Investment Counsel

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 24, 2024), Willis Investment Counsel reported 107 stock positions worth $1.4 billion. Its top holding was Texas Instruments (TXN) at 3.4% of the portfolio, followed by Microsoft (MSFT, 3.3%) and Johnson & Johnson (JNJ, 3.1%). Compared with Q1 2024, it opened 2 new positions, sold out of 2, added to 58 and reduced 14. The biggest buy was Alphabet Class A (GOOGL, shares +29%) and the biggest sale an exit from Globe Life (GL).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.4B (Q2 2024)
SEC Filing
0001310929-24-000008 ↗ filed Jul 24, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.5B Q1 2024 Q2 2024: $1.4B $1.4B Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $1.7B Q2 2025 Q3 2025: $1.8B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $1.8B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 107 stocks · $1.4B
TXN Texas Instruments Inc. 3.38% 251,103 $48.8M Add +0.1%
MSFT Microsoft Corp. 3.30% 106,740 $47.7M Add +0.0%
JNJ Johnson & Johnson 3.12% 308,029 $45.0M Add +4.2%
CSCO Cisco Systems Inc. 2.92% 886,821 $42.1M Add +0.1%
LMT Lockheed Martin Corp. 2.89% 89,192 $41.7M Add +0.1%
CB Chubb Ltd. 2.56% 145,121 $37.0M Add +0.1%
PAYX Paychex Inc. 2.56% 311,893 $37.0M Add +0.1%
PFE Pfizer Inc. 2.50% 1,290,240 $36.1M Add +5.8%
ACN Accenture PLC Class A 2.41% 114,527 $34.7M Add +0.1%
AMAT Applied Materials Inc. 2.40% 146,586 $34.6M Add +0.0%
HD Home Depot Inc. 2.30% 96,543 $33.2M Add +0.1%
PEP Pepsico Inc. 2.22% 194,219 $32.0M Add +22.4%
VZ Verizon Communications Inc. 1.93% 676,193 $27.9M Add +0.0%
MDT Medtronic PLC 1.91% 350,860 $27.6M Add +0.1%
AFL Aflac Inc. 1.83% 296,603 $26.5M Reduce -0.0%
GOOGL Alphabet Inc. Class A 1.83% 145,328 $26.5M Add +29.4%
WMT Walmart Inc. 1.81% 385,545 $26.1M No change
INTC Intel Corp. 1.77% 824,461 $25.5M Add +0.1%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.76% 220,344 $25.4M Add +0.0%
COP Conocophillips 1.75% 221,103 $25.3M Add +0.1%
CLX Clorox Company 1.74% 184,369 $25.2M Add +0.1%
SHEL Shell PLC-ADR 1.67% 334,819 $24.2M Reduce -0.1%
CAT Caterpillar Inc. 1.67% 72,411 $24.1M Add +0.1%
TSCO Tractor Supply Company 1.65% 88,124 $23.8M Add +0.1%
XOM Exxon Mobil Corp. 1.64% 205,615 $23.7M Add +0.1%
BHP BHP Group Ltd.-Spon ADR 1.63% 411,171 $23.5M Reduce -0.0%
AAPL Apple Inc. 1.61% 110,518 $23.3M Reduce -0.6%
MRK Merck & Co. Inc. 1.61% 187,645 $23.2M Reduce -18.8%
UPS United Parcel Service Class B 1.60% 168,458 $23.1M Add +29.0%
KMB Kimberly-Clark Corp. 1.57% 164,440 $22.7M Add +46.5%
T AT&T Inc. 1.32% 998,410 $19.1M No change
DGX Quest Diagnostics Inc. 1.29% 136,300 $18.7M No change
HSY The Hershey Co. 1.22% 95,527 $17.6M Add +12.0%
FDS Factset Research Systems Inc. 1.19% 41,900 $17.1M No change
GPC Genuine Parts Co. 1.17% 121,743 $16.8M No change
ADP Automatic Data Processing 1.15% 69,782 $16.7M No change
AOS Smith (a.o.) Corp. 1.15% 203,452 $16.6M Add +0.1%
MCD McDonald's Corp. 1.14% 64,800 $16.5M Add +117.5%
JPM JPMorgan Chase & Co. 1.12% 80,180 $16.2M No change
GD General Dynamics Corp. 1.08% 53,903 $15.6M No change
AXP American Express Co. 1.08% 67,483 $15.6M Add +0.1%
NVDA Nvidia Corp. 1.06% 123,910 $15.3M Add +0.1%
LOW Lowe's Cos Inc. 1.05% 68,474 $15.1M No change
PG The Procter & Gamble Co. 1.01% 88,592 $14.6M No change
AEP American Electric Power 0.95% 155,613 $13.7M No change
EMR Emerson Electric Co. 0.94% 123,100 $13.6M No change
ETN Eaton Corp. PLC 0.93% 42,941 $13.5M No change
KVUE Kenvue Inc. 0.93% 737,677 $13.4M Add +144.1%
TGT Target Corp. 0.91% 88,484 $13.1M No change
LH Labcorp Holdings Inc. 0.90% 64,032 $13.0M No change
DRI Darden Restaurants Inc. 0.87% 83,006 $12.6M No change
MMM 3M Co. 0.85% 119,621 $12.2M Add +22.2%
GNRC Generac Holdings Inc. 0.81% 88,466 $11.7M Add +0.2%
SNY Sanofi-ADR 0.79% 235,700 $11.4M No change
DE Deere & Co. 0.78% 30,117 $11.3M No change
CVX Chevron Corp. 0.78% 71,746 $11.2M No change
DUK Duke Energy Corp. 0.77% 111,260 $11.2M No change
RGA Reinsurance Group of America 0.73% 51,053 $10.5M Add +0.3%
MUR Murphy Oil Corp. 0.69% 242,661 $10.0M Reduce -0.3%
KEYS Keysight Technologies Inc. 0.69% 72,334 $9.9M Add +13.9%
VLO Valero Energy Corp. 0.64% 59,117 $9.3M No change
ADBE Adobe Inc. 0.60% 15,487 $8.6M Reduce -33.0%
FTNT Fortinet Inc. 0.53% 125,948 $7.6M Add +0.2%
MA Mastercard Inc. Class A 0.50% 16,331 $7.2M Add +0.6%
ROST Ross Stores Inc. 0.49% 49,158 $7.1M Add +0.0%
MSM MSC Industrial Direct Co. Class A 0.47% 86,249 $6.8M Reduce -0.5%
TTE Totalenergies SE -Spon ADR 0.47% 102,443 $6.8M No change
WAT Waters Corp. 0.43% 21,529 $6.2M Add +0.3%
AAP Advance Auto Parts Inc. 0.31% 71,153 $4.5M Add +0.3%
FTRE Fortrea Holdings Inc. 0.29% 182,083 $4.2M Add +0.3%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.29% 22,929 $4.2M Add +2.6%
MOS The Mosaic Co. 0.28% 142,091 $4.1M Reduce -0.0%
MEDP Medpace Holdings Inc. 0.22% 7,702 $3.2M Add +0.9%
MXCT Maxcyte Inc. 0.12% 438,750 $1.7M Reduce -16.4%
FTDR Frontdoor Inc. 0.10% 44,598 $1.5M Add +1.4%
LOGI Logitech International-Reg 0.10% 15,338 $1.5M Add +1.2%
QLYS Qualys Inc. 0.10% 9,877 $1.4M Add +19.6%
GIL Gildan Activewear Inc. 0.09% 33,249 $1.3M Add +1.5%
DCI Donaldson Co. Inc. 0.09% 17,458 $1.2M Add +1.6%
EVTC Evertec Inc. 0.08% 34,288 $1.1M Reduce -3.5%
HXL Hexcel Corp. 0.07% 15,888 $992K Add +1.0%
LQDT Liquidity Services Inc. 0.07% 48,725 $974K Add +1.6%
STRL Sterling Infrastructure Inc. 0.06% 7,054 $835K Reduce -51.1%
NRC NRC Health filed as NATIONAL RESH CORP 0.06% 34,702 $796K Add +13.3%
CSGS CSG Systems Intl Inc. 0.05% 17,726 $730K Reduce -12.6%
JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP 0.05% 7,418 $704K Add +0.5%
ATKR Atkore Inc. 0.05% 5,109 $689K Add +1.4%
KO The Coca-Cola Co. 0.05% 10,397 $662K No change
BRK.A Berkshire Hathaway Inc. Class A 0.04% 1 $612K No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.04% 3,447 $572K Add +1.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 2,276 $551K No change
OEF iShares S&P 100 ETF 0.03% 1,841 $487K No change
PAR Par Technology Corp. 0.03% 10,000 $471K No change
UI Ubiquiti Inc. 0.03% 3,065 $446K New
DLB Dolby Laboratories Inc. Class A 0.03% 5,621 $445K Add +1.8%
DTD Wisdomtree US Total Dividend 0.03% 5,341 $378K Reduce -4.0%
TTC Toro Co. 0.02% 3,825 $358K Add +1.7%
VRSN Verisign Inc. 0.02% 1,816 $323K Add +63.6%
FIZZ National Beverage Corp. 0.02% 5,978 $306K Add +1.6%
SO The Southern Co. 0.02% 3,717 $288K No change

Show all 107 holdings

Portfolio Sells Q1 2024 → Q2 2024
GL Globe Life Inc. Sold out 0.00% −0.80
MRK Merck & Co. Inc. Reduce -18.8% 1.61% −0.49
ADBE Adobe Inc. Reduce -33.0% 0.60% −0.21
MSM MSC Industrial Direct Co. Class A Reduce -0.5% 0.47% −0.10
MUR Murphy Oil Corp. Reduce -0.3% 0.69% −0.07
STRL Sterling Infrastructure Inc. Reduce -51.1% 0.06% −0.05
MOS The Mosaic Co. Reduce -0.0% 0.28% −0.03
MXCT Maxcyte Inc. Reduce -16.4% 0.12% −0.03
CSGS CSG Systems Intl Inc. Reduce -12.6% 0.05% −0.02
EVTC Evertec Inc. Reduce -3.5% 0.08% −0.02
ABBV Abbvie Inc. Sold out 0.00% −0.01
BHP BHP Group Ltd.-Spon ADR Reduce -0.0% 1.63% −0.01
DTD Wisdomtree US Total Dividend Reduce -4.0% 0.03% −0.00
AFL Aflac Inc. Reduce -0.0% 1.83% +0.08
SHEL Shell PLC-ADR Reduce -0.1% 1.67% +0.13
AAPL Apple Inc. Reduce -0.6% 1.61% +0.30

Portfolio Buys Q1 2024 → Q2 2024
GOOGL Alphabet Inc. Class A Add +29.4% 1.83% +0.67
KMB Kimberly-Clark Corp. Add +46.5% 1.57% +0.58
MCD McDonald's Corp. Add +117.5% 1.14% +0.57
KVUE Kenvue Inc. Add +144.1% 0.93% +0.48
TXN Texas Instruments Inc. Add +0.1% 3.38% +0.38
AMAT Applied Materials Inc. Add +0.0% 2.40% +0.32
PEP Pepsico Inc. Add +22.4% 2.22% +0.31
NVDA Nvidia Corp. Add +0.1% 1.06% +0.29
UPS United Parcel Service Class B Add +29.0% 1.60% +0.26
MSFT Microsoft Corp. Add +0.0% 3.30% +0.22
PFE Pfizer Inc. Add +5.8% 2.50% +0.17
MMM 3M Co. Add +22.2% 0.85% +0.13
LMT Lockheed Martin Corp. Add +0.1% 2.89% +0.10
HSY The Hershey Co. Add +12.0% 1.22% +0.08
TSCO Tractor Supply Company Add +0.1% 1.65% +0.06
RGA Reinsurance Group of America Add +0.3% 0.73% +0.05
GNRC Generac Holdings Inc. Add +0.2% 0.81% +0.04
UI Ubiquiti Inc. New 0.03% +0.03
AXP American Express Co. Add +0.1% 1.08% +0.03
GOOG Alphabet Inc. Class C New 0.02% +0.02
LOGI Logitech International-Reg Add +1.2% 0.10% +0.01
VRSN Verisign Inc. Add +63.6% 0.02% +0.01
MEDP Medpace Holdings Inc. Add +0.9% 0.22% +0.01
LQDT Liquidity Services Inc. Add +1.6% 0.07% +0.01
FTDR Frontdoor Inc. Add +1.4% 0.10% +0.01
GIL Gildan Activewear Inc. Add +1.5% 0.09% +0.00
QLYS Qualys Inc. Add +19.6% 0.10% +0.00
KEYS Keysight Technologies Inc. Add +13.9% 0.69% +0.00
FIZZ National Beverage Corp. Add +1.6% 0.02% +0.00
TTC Toro Co. Add +1.7% 0.02% +0.00
DLB Dolby Laboratories Inc. Class A Add +1.8% 0.03% −0.00
JKHY Jack Henry & Associates Inc. Add +1.1% 0.04% −0.00
ROST Ross Stores Inc. Add +0.0% 0.49% −0.00
DCI Donaldson Co. Inc. Add +1.6% 0.09% −0.00
IBM Intl Business Machines Corp. Add +0.3% 0.02% −0.00
XOM Exxon Mobil Corp. Add +0.1% 1.64% −0.00
JBTM JBT Marel Corp. Add +0.5% 0.05% −0.00
VBR Vngrd Mrngst SL-CP Val ETF-U Add +2.6% 0.29% −0.01
HXL Hexcel Corp. Add +1.0% 0.07% −0.01
ATKR Atkore Inc. Add +1.4% 0.05% −0.02
VZ Verizon Communications Inc. Add +0.0% 1.93% −0.02
CB Chubb Ltd. Add +0.1% 2.56% −0.02
NRC NRC Health Add +13.3% 0.06% −0.03
MA Mastercard Inc. Class A Add +0.6% 0.50% −0.04
FTNT Fortinet Inc. Add +0.2% 0.53% −0.06
PAYX Paychex Inc. Add +0.1% 2.56% −0.07
WAT Waters Corp. Add +0.3% 0.43% −0.08
TROW T Rowe Price Group Inc. Add +0.0% 1.76% −0.09
AOS Smith (a.o.) Corp. Add +0.1% 1.15% −0.10
JNJ Johnson & Johnson Add +4.2% 3.12% −0.10

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 125$2.1BCSCO, JNJ, TXN, CAT, CB
Q1 2026 123$1.8BJNJ, CSCO, LMT, TXN, CB
Q4 2025 130$1.9BJNJ, CSCO, MSFT, ACN, CB
Q3 2025 127$1.8BJNJ, MSFT, CSCO, LMT, TXN
Q2 2025 118$1.7BCSCO, MSFT, JNJ, TXN, PAYX
Q1 2025 117$1.5BJNJ, CSCO, CB, PAYX, TXN
Q4 2024 116$1.5BCSCO, JNJ, TXN, MSFT, PAYX
Q3 2024 113$1.5BTXN, JNJ, LMT, CSCO, MSFT
Q2 2024 107$1.4BTXN, MSFT, JNJ, CSCO, LMT
Q1 2024 107$1.5BJNJ, MSFT, CSCO, TXN, LMT