Willis Investment Counsel

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 24, 2025), Willis Investment Counsel reported 116 stock positions worth $1.5 billion. Its top holding was Cisco Systems (CSCO) at 3.5% of the portfolio, followed by Johnson & Johnson (JNJ, 3.1%) and Texas Instruments (TXN, 3.1%). Compared with Q3 2024, it opened 3 new positions, added to 79 and reduced 9. The biggest buy was Factset Research Systems (FDS, shares +39%) and the biggest sale BHP Group Ltd.-Spon ADR (BHP, shares −2%).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.5B (Q4 2024)
SEC Filing
0001310929-25-000001 ↗ filed Jan 24, 2025

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 Q3 2024 Q4 2024: $1.5B $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 116 stocks · $1.5B
CSCO Cisco Systems Inc. 3.46% 890,842 $52.7M Add +0.1%
JNJ Johnson & Johnson 3.15% 331,975 $48.0M Add +7.5%
TXN Texas Instruments Inc. 3.11% 252,895 $47.4M Add +0.4%
MSFT Microsoft Corp. 3.05% 110,288 $46.5M Add +2.8%
PAYX Paychex Inc. 2.89% 314,671 $44.1M Add +0.6%
LMT Lockheed Martin Corp. 2.78% 87,082 $42.3M Add +4.8%
CB Chubb Ltd. 2.67% 147,367 $40.7M Add +1.0%
ACN Accenture PLC Class A 2.67% 115,661 $40.7M Add +0.6%
HD Home Depot Inc. 2.48% 97,304 $37.9M Add +0.6%
PFE Pfizer Inc. 2.47% 1,418,838 $37.6M Add +9.4%
WMT Walmart Inc. 2.28% 385,195 $34.8M Add +0.0%
CLX Clorox Company 1.98% 185,785 $30.2M Add +0.4%
PEP Pepsico Inc. 1.96% 196,282 $29.8M Add +0.8%
VZ Verizon Communications Inc. 1.90% 725,343 $29.0M Add +6.8%
AFL Aflac Inc. 1.86% 273,466 $28.3M Add +1.2%
MDT Medtronic PLC 1.85% 353,687 $28.3M Add +0.5%
FDS Factset Research Systems Inc. 1.83% 58,210 $28.0M Add +38.9%
AAPL Apple Inc. 1.82% 110,581 $27.7M Add +0.0%
CAT Caterpillar Inc. 1.75% 73,774 $26.8M Add +1.3%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.64% 221,426 $25.0M Add +0.3%
AMAT Applied Materials Inc. 1.58% 148,304 $24.1M Add +0.6%
HSY The Hershey Co. 1.56% 140,579 $23.8M Add +46.2%
TSCO Tractor Supply Company 1.56% 447,358 $23.7M Add +0.7%
GOOGL Alphabet Inc. Class A 1.50% 120,697 $22.8M Add +0.9%
T AT&T Inc. 1.49% 998,410 $22.7M No change
XOM Exxon Mobil Corp. 1.48% 209,292 $22.5M Add +0.9%
COP Conocophillips 1.45% 223,679 $22.2M Add +0.7%
UPS United Parcel Service Class B 1.42% 171,522 $21.6M Add +1.0%
KMB Kimberly-Clark Corp. 1.41% 164,440 $21.5M No change
SHEL Shell PLC-ADR 1.39% 339,122 $21.2M Add +0.8%
ETN Eaton Corp. PLC 1.34% 61,640 $20.5M Add +0.0%
ADP Automatic Data Processing 1.34% 69,744 $20.4M No change
NVDA Nvidia Corp. 1.32% 150,413 $20.2M Add +1.5%
BHP BHP Group Ltd.-Spon ADR 1.29% 403,314 $19.7M Reduce -2.2%
KVUE Kenvue Inc. 1.24% 888,983 $19.0M Add +0.6%
MCD McDonald's Corp. 1.23% 64,800 $18.8M No change
MRK Merck & Co. Inc. 1.23% 187,817 $18.7M Add +0.0%
DGX Quest Diagnostics Inc. 1.19% 120,100 $18.1M No change
DRI Darden Restaurants Inc. 1.14% 92,800 $17.3M Add +11.8%
LOW Lowe's Cos Inc. 1.11% 68,471 $16.9M Add +0.0%
GNRC Generac Holdings Inc. 1.10% 107,960 $16.7M Add +2.8%
AXP American Express Co. 1.05% 53,983 $16.0M Add +2.6%
MMM 3M Co. 1.03% 121,945 $15.7M Add +1.3%
TGT Target Corp. 1.02% 115,091 $15.6M Add +30.1%
EMR Emerson Electric Co. 1.00% 123,100 $15.3M No change
LH Labcorp Holdings Inc. 0.99% 65,837 $15.1M Add +1.3%
PG The Procter & Gamble Co. 0.97% 88,540 $14.8M Reduce -0.0%
JPM JPMorgan Chase & Co. 0.95% 60,341 $14.5M Reduce -0.1%
AEP American Electric Power 0.94% 155,600 $14.4M No change
GPC Genuine Parts Co. 0.93% 121,743 $14.2M No change
AOS Smith (a.o.) Corp. 0.91% 204,470 $13.9M Add +0.3%
DE Deere & Co. 0.84% 30,100 $12.8M No change
FTNT Fortinet Inc. 0.80% 128,891 $12.2M Add +1.4%
KEYS Keysight Technologies Inc. 0.80% 75,611 $12.1M Add +2.9%
DUK Duke Energy Corp. 0.79% 111,430 $12.0M Add +0.0%
WAT Waters Corp. 0.77% 31,727 $11.8M Add +3.1%
RGA Reinsurance Group of America 0.75% 53,333 $11.4M Add +3.0%
SNY Sanofi-ADR 0.75% 235,700 $11.4M No change
GD General Dynamics Corp. 0.74% 42,600 $11.2M No change
CVX Chevron Corp. 0.68% 71,612 $10.4M No change
MA Mastercard Inc. Class A 0.59% 17,152 $9.0M Add +1.7%
ROST Ross Stores Inc. 0.50% 50,802 $7.7M Add +1.8%
ZTS Zoetis Inc. 0.49% 46,227 $7.5M New
MUR Murphy Oil Corp. 0.49% 246,879 $7.5M Add +0.7%
ADBE Adobe Inc. 0.48% 16,558 $7.4M Add +4.1%
VLO Valero Energy Corp. 0.48% 59,100 $7.2M No change
MSM MSC Industrial Direct Co. Class A 0.44% 89,451 $6.7M Add +2.3%
INTC Intel Corp. 0.40% 300,787 $6.0M Add +0.8%
TTE Totalenergies SE -Spon ADR 0.36% 102,137 $5.6M Reduce -0.3%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.34% 26,269 $5.2M Add +7.1%
FTRE Fortrea Holdings Inc. 0.23% 185,473 $3.5M Add +0.6%
MOS The Mosaic Co. 0.21% 127,778 $3.1M Reduce -11.6%
MEDP Medpace Holdings Inc. 0.18% 8,139 $2.7M Add +1.7%
FTDR Frontdoor Inc. 0.17% 46,753 $2.6M Add +0.4%
AAP Advance Auto Parts Inc. 0.13% 42,478 $2.0M Reduce -41.9%
LQDT Liquidity Services Inc. 0.11% 52,320 $1.7M Add +1.6%
MXCT Maxcyte Inc. 0.11% 405,471 $1.7M No change
GIL Gildan Activewear Inc. 0.11% 35,167 $1.7M Add +1.8%
QLYS Qualys Inc. 0.10% 10,629 $1.5M Add +4.5%
LOGI Logitech International-Reg 0.09% 16,401 $1.4M Add +2.5%
DCI Donaldson Co. Inc. 0.08% 18,874 $1.3M Add +2.9%
STRL Sterling Infrastructure Inc. 0.08% 7,535 $1.3M Add +1.4%
EVTC Evertec Inc. 0.08% 34,602 $1.2M Add +37.8%
UI Ubiquiti Inc. 0.07% 3,364 $1.1M Add +3.5%
HXL Hexcel Corp. 0.07% 16,850 $1.1M Add +2.2%
NRC NRC Health filed as NATIONAL RESH CORP 0.06% 55,247 $975K Reduce -1.6%
JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP 0.06% 7,651 $972K Add +1.8%
PAYC Paycom Software Inc. 0.06% 4,396 $901K Add +3.6%
RSP Invesco S&P 500 Equal Weight 0.06% 4,891 $857K New
CSGS CSG Systems Intl Inc. 0.05% 16,276 $832K Add +4.3%
PAR Par Technology Corp. 0.05% 10,033 $729K Add +0.3%
KO The Coca-Cola Co. 0.05% 11,040 $687K No change
BRK.A Berkshire Hathaway Inc. Class A 0.04% 1 $681K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 2,567 $678K Add +12.8%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.04% 3,650 $640K Add +1.9%
COF Capital One Financial Corp. 0.04% 3,041 $542K No change
OEF iShares S&P 100 ETF 0.03% 1,781 $514K Reduce -3.3%
DLB Dolby Laboratories Inc. Class A 0.03% 6,157 $481K Add +3.5%
VRSN Verisign Inc. 0.03% 2,214 $458K Add +12.9%
ATKR Atkore Inc. 0.03% 5,350 $446K Add +3.3%
DTD Wisdomtree US Total Dividend 0.03% 5,241 $398K Reduce -1.9%
LAMR Lamar Advertising Co. Class A 0.02% 3,029 $369K New
TTC Toro Co. 0.02% 4,548 $364K Add +10.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.02% 1,531 $336K Add +0.2%
SO The Southern Co. 0.02% 3,567 $294K No change
FIZZ National Beverage Corp. 0.02% 6,445 $275K Add +2.7%
SUN Sunoco LP 0.02% 4,883 $251K No change
GOOG Alphabet Inc. Class C 0.02% 1,291 $246K Add +3.3%
VTI VG Morningstar TS MKT ETF-US 0.02% 835 $242K Add +3.0%
QXO Qxo Inc. 0.02% 15,000 $239K No change
IWN iShares Russell 2000 Value E 0.02% 1,400 $230K No change
FLO Flowers Foods Inc. 0.01% 10,294 $213K No change
ABBV Abbvie Inc. 0.01% 1,154 $205K Add +1.1%
SMMT Summit Therapeutics Inc. 0.01% 10,000 $178K No change
MYCX Mycelx Technologies Corp.-Add 0.00% 10,360 $5K No change
PSWS Puresafe Water Systems Inc. 0.00% 14,000 $1 No change

Portfolio Sells Q3 2024 → Q4 2024
BHP BHP Group Ltd.-Spon ADR Reduce -2.2% 1.29% −0.37
TTE Totalenergies SE -Spon ADR Reduce -0.3% 0.36% −0.07
AAP Advance Auto Parts Inc. Reduce -41.9% 0.13% −0.05
MOS The Mosaic Co. Reduce -11.6% 0.21% −0.05
PG The Procter & Gamble Co. Reduce -0.0% 0.97% −0.02
NRC NRC Health Reduce -1.6% 0.06% −0.02
DTD Wisdomtree US Total Dividend Reduce -1.9% 0.03% −0.00
OEF iShares S&P 100 ETF Reduce -3.3% 0.03% +0.00
JPM JPMorgan Chase & Co. Reduce -0.1% 0.95% +0.12

Portfolio Buys Q3 2024 → Q4 2024
FDS Factset Research Systems Inc. Add +38.9% 1.83% +0.58
ZTS Zoetis Inc. New 0.49% +0.49
CSCO Cisco Systems Inc. Add +0.1% 3.46% +0.38
HSY The Hershey Co. Add +46.2% 1.56% +0.36
WMT Walmart Inc. Add +0.0% 2.28% +0.26
DRI Darden Restaurants Inc. Add +11.8% 1.14% +0.25
GOOGL Alphabet Inc. Class A Add +0.9% 1.50% +0.21
PAYX Paychex Inc. Add +0.6% 2.89% +0.17
FTNT Fortinet Inc. Add +1.4% 0.80% +0.16
NVDA Nvidia Corp. Add +1.5% 1.32% +0.16
AAPL Apple Inc. Add +0.0% 1.82% +0.14
TGT Target Corp. Add +30.1% 1.02% +0.12
AXP American Express Co. Add +2.6% 1.05% +0.12
TROW T Rowe Price Group Inc. Add +0.3% 1.64% +0.08
RSP Invesco S&P 500 Equal Weight New 0.06% +0.06
WAT Waters Corp. Add +3.1% 0.77% +0.05
MA Mastercard Inc. Class A Add +1.7% 0.59% +0.05
MSFT Microsoft Corp. Add +2.8% 3.05% +0.05
LH Labcorp Holdings Inc. Add +1.3% 0.99% +0.05
KEYS Keysight Technologies Inc. Add +2.9% 0.80% +0.04
LQDT Liquidity Services Inc. Add +1.6% 0.11% +0.03
PFE Pfizer Inc. Add +9.4% 2.47% +0.03
ACN Accenture PLC Class A Add +0.6% 2.67% +0.03
UI Ubiquiti Inc. Add +3.5% 0.07% +0.03
LAMR Lamar Advertising Co. Class A New 0.02% +0.02
EVTC Evertec Inc. Add +37.8% 0.08% +0.02
FTDR Frontdoor Inc. Add +0.4% 0.17% +0.02
VBR Vngrd Mrngst SL-CP Val ETF-U Add +7.1% 0.34% +0.02
CLX Clorox Company Add +0.4% 1.98% +0.02
ROST Ross Stores Inc. Add +1.8% 0.50% +0.02
JBTM JBT Marel Corp. Add +1.8% 0.06% +0.02
ETN Eaton Corp. PLC Add +0.0% 1.34% +0.01
PAR Par Technology Corp. Add +0.3% 0.05% +0.01
RGA Reinsurance Group of America Add +3.0% 0.75% +0.01
GNRC Generac Holdings Inc. Add +2.8% 1.10% +0.01
PAYC Paycom Software Inc. Add +3.6% 0.06% +0.01
STRL Sterling Infrastructure Inc. Add +1.4% 0.08% +0.01
QLYS Qualys Inc. Add +4.5% 0.10% +0.01
VRSN Verisign Inc. Add +12.9% 0.03% +0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +12.8% 0.04% +0.01
CSGS CSG Systems Intl Inc. Add +4.3% 0.05% +0.01
MEDP Medpace Holdings Inc. Add +1.7% 0.18% +0.00
HXL Hexcel Corp. Add +2.2% 0.07% +0.00
GIL Gildan Activewear Inc. Add +1.8% 0.11% +0.00
GOOG Alphabet Inc. Class C Add +3.3% 0.02% +0.00
DLB Dolby Laboratories Inc. Class A Add +3.5% 0.03% +0.00
VTI VG Morningstar TS MKT ETF-US Add +3.0% 0.02% +0.00
JKHY Jack Henry & Associates Inc. Add +1.9% 0.04% +0.00
ATKR Atkore Inc. Add +3.3% 0.03% +0.00
TTC Toro Co. Add +10.8% 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