Willis Investment Counsel

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 11, 2024), Willis Investment Counsel reported 113 stock positions worth $1.5 billion. Its top holding was Texas Instruments (TXN) at 3.4% of the portfolio, followed by Johnson & Johnson (JNJ, 3.3%) and Lockheed Martin (LMT, 3.2%). Compared with Q2 2024, it opened 7 new positions, sold out of 1, added to 67 and reduced 21. The biggest buy was Kenvue (KVUE, shares +20%) and the biggest sale Intel (INTC, shares −64%).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.5B (Q3 2024)
SEC Filing
0001310929-24-000009 ↗ filed Oct 11, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.5B Q1 2024 Q2 2024: $1.4B Q2 2024 Q3 2024: $1.5B $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 113 stocks · $1.5B
TXN Texas Instruments Inc. 3.38% 251,873 $52.0M Add +0.3%
JNJ Johnson & Johnson 3.25% 308,892 $50.1M Add +0.3%
LMT Lockheed Martin Corp. 3.16% 83,103 $48.6M Reduce -6.8%
CSCO Cisco Systems Inc. 3.08% 890,204 $47.4M Add +0.4%
MSFT Microsoft Corp. 3.00% 107,305 $46.2M Add +0.5%
CB Chubb Ltd. 2.73% 145,943 $42.1M Add +0.6%
PAYX Paychex Inc. 2.73% 312,924 $42.0M Add +0.3%
ACN Accenture PLC Class A 2.64% 115,013 $40.7M Add +0.4%
HD Home Depot Inc. 2.55% 96,719 $39.2M Add +0.2%
PFE Pfizer Inc. 2.44% 1,297,206 $37.5M Add +0.5%
PEP Pepsico Inc. 2.15% 194,766 $33.1M Add +0.3%
MDT Medtronic PLC 2.06% 351,850 $31.7M Add +0.3%
WMT Walmart Inc. 2.02% 385,145 $31.1M Reduce -0.1%
VZ Verizon Communications Inc. 1.98% 679,370 $30.5M Add +0.5%
AFL Aflac Inc. 1.96% 270,109 $30.2M Reduce -8.9%
CLX Clorox Company 1.96% 184,966 $30.1M Add +0.3%
AMAT Applied Materials Inc. 1.93% 147,384 $29.8M Add +0.5%
CAT Caterpillar Inc. 1.85% 72,835 $28.5M Add +0.6%
TSCO Tractor Supply Company 1.68% 88,852 $25.8M Add +0.8%
AAPL Apple Inc. 1.67% 110,534 $25.8M Add +0.0%
BHP BHP Group Ltd.-Spon ADR 1.66% 412,446 $25.6M Add +0.3%
XOM Exxon Mobil Corp. 1.58% 207,398 $24.3M Add +0.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.56% 220,854 $24.1M Add +0.2%
KMB Kimberly-Clark Corp. 1.52% 164,440 $23.4M No change
COP Conocophillips 1.52% 222,144 $23.4M Add +0.5%
UPS United Parcel Service Class B 1.50% 169,801 $23.2M Add +0.8%
SHEL Shell PLC-ADR 1.44% 336,374 $22.2M Add +0.5%
T AT&T Inc. 1.43% 998,410 $22.0M No change
MRK Merck & Co. Inc. 1.39% 187,795 $21.3M Add +0.1%
KVUE Kenvue Inc. 1.33% 883,752 $20.4M Add +19.8%
ETN Eaton Corp. PLC 1.33% 61,626 $20.4M Add +43.5%
GOOGL Alphabet Inc. Class A 1.29% 119,672 $19.8M Reduce -17.6%
MCD McDonald's Corp. 1.28% 64,800 $19.7M No change
ADP Automatic Data Processing 1.25% 69,744 $19.3M Reduce -0.1%
FDS Factset Research Systems Inc. 1.25% 41,900 $19.3M No change
DGX Quest Diagnostics Inc. 1.21% 120,100 $18.6M Reduce -11.9%
LOW Lowe's Cos Inc. 1.20% 68,459 $18.5M Reduce -0.0%
HSY The Hershey Co. 1.20% 96,148 $18.4M Add +0.7%
AOS Smith (a.o.) Corp. 1.19% 203,952 $18.3M Add +0.3%
NVDA Nvidia Corp. 1.17% 148,192 $18.0M Add +19.6%
GPC Genuine Parts Co. 1.10% 121,743 $17.0M No change
GNRC Generac Holdings Inc. 1.08% 105,007 $16.7M Add +18.7%
MMM 3M Co. 1.07% 120,405 $16.5M Add +0.7%
AEP American Electric Power 1.04% 155,600 $16.0M Reduce -0.0%
PG The Procter & Gamble Co. 1.00% 88,577 $15.3M Reduce -0.0%
LH Labcorp Holdings Inc. 0.94% 65,003 $14.5M Add +1.5%
AXP American Express Co. 0.93% 52,622 $14.3M Reduce -22.0%
TGT Target Corp. 0.90% 88,484 $13.8M No change
DRI Darden Restaurants Inc. 0.89% 83,000 $13.6M Reduce -0.0%
SNY Sanofi-ADR 0.88% 235,700 $13.6M No change
EMR Emerson Electric Co. 0.87% 123,100 $13.5M No change
GD General Dynamics Corp. 0.84% 42,600 $12.9M Reduce -21.0%
DUK Duke Energy Corp. 0.83% 111,407 $12.8M Add +0.1%
JPM JPMorgan Chase & Co. 0.83% 60,400 $12.7M Reduce -24.7%
DE Deere & Co. 0.82% 30,100 $12.6M Reduce -0.1%
KEYS Keysight Technologies Inc. 0.76% 73,486 $11.7M Add +1.6%
RGA Reinsurance Group of America 0.73% 51,807 $11.3M Add +1.5%
WAT Waters Corp. 0.72% 30,771 $11.1M Add +42.9%
CVX Chevron Corp. 0.69% 71,612 $10.5M Reduce -0.2%
FTNT Fortinet Inc. 0.64% 127,087 $9.9M Add +0.9%
MA Mastercard Inc. Class A 0.54% 16,872 $8.3M Add +3.3%
MUR Murphy Oil Corp. 0.54% 245,099 $8.3M Add +1.0%
ADBE Adobe Inc. 0.54% 15,903 $8.2M Add +2.7%
VLO Valero Energy Corp. 0.52% 59,100 $8.0M Reduce -0.0%
MSM MSC Industrial Direct Co. Class A 0.49% 87,469 $7.5M Add +1.4%
ROST Ross Stores Inc. 0.49% 49,915 $7.5M Add +1.5%
INTC Intel Corp. 0.45% 298,465 $7.0M Reduce -63.8%
TTE Totalenergies SE -Spon ADR 0.43% 102,443 $6.6M No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.32% 24,529 $4.9M Add +7.0%
MOS The Mosaic Co. 0.25% 144,543 $3.9M Add +1.7%
FTRE Fortrea Holdings Inc. 0.24% 184,335 $3.7M Add +1.2%
AAP Advance Auto Parts Inc. 0.19% 73,115 $2.9M Add +2.8%
MEDP Medpace Holdings Inc. 0.17% 8,002 $2.7M Add +3.9%
FTDR Frontdoor Inc. 0.15% 46,568 $2.2M Add +4.4%
GIL Gildan Activewear Inc. 0.11% 34,545 $1.6M Add +3.9%
MXCT Maxcyte Inc. 0.10% 405,471 $1.6M Reduce -7.6%
LOGI Logitech International-Reg 0.09% 15,993 $1.4M Add +4.3%
DCI Donaldson Co. Inc. 0.09% 18,344 $1.4M Add +5.1%
QLYS Qualys Inc. 0.08% 10,172 $1.3M Add +3.0%
NRC NRC Health filed as NATIONAL RESH CORP 0.08% 56,153 $1.3M Add +61.8%
LQDT Liquidity Services Inc. 0.08% 51,520 $1.2M Add +5.7%
STRL Sterling Infrastructure Inc. 0.07% 7,434 $1.1M Add +5.4%
HXL Hexcel Corp. 0.07% 16,488 $1.0M Add +3.8%
EVTC Evertec Inc. 0.06% 25,120 $851K Reduce -26.7%
KO The Coca-Cola Co. 0.05% 11,040 $793K Add +6.2%
CSGS CSG Systems Intl Inc. 0.05% 15,608 $759K Reduce -11.9%
JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP 0.05% 7,517 $741K Add +1.3%
UI Ubiquiti Inc. 0.05% 3,250 $721K Add +6.0%
PAYC Paycom Software Inc. 0.05% 4,241 $706K New
BRK.A Berkshire Hathaway Inc. Class A 0.04% 1 $691K No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.04% 3,582 $632K Add +3.9%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 2,276 $600K No change
PAR Par Technology Corp. 0.03% 10,000 $521K No change
OEF iShares S&P 100 ETF 0.03% 1,841 $510K No change
DLB Dolby Laboratories Inc. Class A 0.03% 5,951 $455K Add +5.9%
COF Capital One Financial Corp. 0.03% 3,041 $455K New
ATKR Atkore Inc. 0.03% 5,179 $439K Add +1.4%
DTD Wisdomtree US Total Dividend 0.03% 5,341 $410K No change
VRSN Verisign Inc. 0.02% 1,961 $373K Add +8.0%
TTC Toro Co. 0.02% 4,103 $356K Add +7.3%

Show all 113 holdings

Portfolio Sells Q2 2024 → Q3 2024
INTC Intel Corp. Reduce -63.8% 0.45% −1.31
GOOGL Alphabet Inc. Class A Reduce -17.6% 1.29% −0.54
JPM JPMorgan Chase & Co. Reduce -24.7% 0.83% −0.30
GD General Dynamics Corp. Reduce -21.0% 0.84% −0.25
AXP American Express Co. Reduce -22.0% 0.93% −0.16
VLO Valero Energy Corp. Reduce -0.0% 0.52% −0.12
CVX Chevron Corp. Reduce -0.2% 0.69% −0.09
DGX Quest Diagnostics Inc. Reduce -11.9% 1.21% −0.08
EVTC Evertec Inc. Reduce -26.7% 0.06% −0.02
MXCT Maxcyte Inc. Reduce -7.6% 0.10% −0.02
PG The Procter & Gamble Co. Reduce -0.0% 1.00% −0.02
CSGS CSG Systems Intl Inc. Reduce -11.9% 0.05% −0.00
CYDY Cytodyn Inc. Sold out 0.00% −0.00
SO The Southern Co. Reduce -4.0% 0.02% +0.00
DRI Darden Restaurants Inc. Reduce -0.0% 0.89% +0.01
DE Deere & Co. Reduce -0.1% 0.82% +0.04
AEP American Electric Power Reduce -0.0% 1.04% +0.09
ADP Automatic Data Processing Reduce -0.1% 1.25% +0.10
AFL Aflac Inc. Reduce -8.9% 1.96% +0.13
LOW Lowe's Cos Inc. Reduce -0.0% 1.20% +0.16
WMT Walmart Inc. Reduce -0.1% 2.02% +0.21
LMT Lockheed Martin Corp. Reduce -6.8% 3.16% +0.27

Portfolio Buys Q2 2024 → Q3 2024
KVUE Kenvue Inc. Add +19.8% 1.33% +0.40
ETN Eaton Corp. PLC Add +43.5% 1.33% +0.39
WAT Waters Corp. Add +42.9% 0.72% +0.29
GNRC Generac Holdings Inc. Add +18.7% 1.08% +0.27
HD Home Depot Inc. Add +0.2% 2.55% +0.24
ACN Accenture PLC Class A Add +0.4% 2.64% +0.23
MMM 3M Co. Add +0.7% 1.07% +0.22
CLX Clorox Company Add +0.3% 1.96% +0.21
CAT Caterpillar Inc. Add +0.6% 1.85% +0.18
CB Chubb Ltd. Add +0.6% 2.73% +0.17
PAYX Paychex Inc. Add +0.3% 2.73% +0.17
CSCO Cisco Systems Inc. Add +0.4% 3.08% +0.16
MDT Medtronic PLC Add +0.3% 2.06% +0.14
JNJ Johnson & Johnson Add +0.3% 3.25% +0.13
FTNT Fortinet Inc. Add +0.9% 0.64% +0.11
NVDA Nvidia Corp. Add +19.6% 1.17% +0.11
KEYS Keysight Technologies Inc. Add +1.6% 0.76% +0.07
DUK Duke Energy Corp. Add +0.1% 0.83% +0.06
AAPL Apple Inc. Add +0.0% 1.67% +0.06
VZ Verizon Communications Inc. Add +0.5% 1.98% +0.05
PAYC Paycom Software Inc. New 0.05% +0.05
MA Mastercard Inc. Class A Add +3.3% 0.54% +0.04
LH Labcorp Holdings Inc. Add +1.5% 0.94% +0.04
FTDR Frontdoor Inc. Add +4.4% 0.15% +0.04
BHP BHP Group Ltd.-Spon ADR Add +0.3% 1.66% +0.04
AOS Smith (a.o.) Corp. Add +0.3% 1.19% +0.04
TSCO Tractor Supply Company Add +0.8% 1.68% +0.03
VBR Vngrd Mrngst SL-CP Val ETF-U Add +7.0% 0.32% +0.03
COF Capital One Financial Corp. New 0.03% +0.03
NRC NRC Health Add +61.8% 0.08% +0.03
GIL Gildan Activewear Inc. Add +3.9% 0.11% +0.02
UI Ubiquiti Inc. Add +6.0% 0.05% +0.02
QXO Qxo Inc. New 0.02% +0.02
IWN iShares Russell 2000 Value E New 0.02% +0.02
MSM MSC Industrial Direct Co. Class A Add +1.4% 0.49% +0.02
VTI VG Morningstar TS MKT ETF-US New 0.01% +0.01
ABBV Abbvie Inc. New 0.01% +0.01
SMMT Summit Therapeutics Inc. New 0.01% +0.01
STRL Sterling Infrastructure Inc. Add +5.4% 0.07% +0.01
LQDT Liquidity Services Inc. Add +5.7% 0.08% +0.01
RGA Reinsurance Group of America Add +1.5% 0.73% +0.01
KO The Coca-Cola Co. Add +6.2% 0.05% +0.01
IBM Intl Business Machines Corp. Add +0.3% 0.02% +0.00
VRSN Verisign Inc. Add +8.0% 0.02% +0.00
JKHY Jack Henry & Associates Inc. Add +3.9% 0.04% +0.00
DCI Donaldson Co. Inc. Add +5.1% 0.09% +0.00
JBTM JBT Marel Corp. Add +1.3% 0.05% −0.00
DLB Dolby Laboratories Inc. Class A Add +5.9% 0.03% −0.00
GOOG Alphabet Inc. Class C Add +4.2% 0.01% −0.00
TTC Toro Co. Add +7.3% 0.02% −0.00

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