Willis Investment Counsel

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Willis Investment Counsel reported 118 stock positions worth $1.7 billion. Its top holding was Cisco Systems (CSCO) at 3.3% of the portfolio, followed by Microsoft (MSFT, 3.2%) and Johnson & Johnson (JNJ, 3.2%). Compared with Q1 2025, it opened 6 new positions, sold out of 5, added to 90 and reduced 7. The biggest buy was a new position in Abbott Laboratories (ABT) and the biggest sale Verizon Communications (VZ, shares −19%).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.7B (Q2 2025)
SEC Filing
0001310929-25-000004 ↗ filed Aug 12, 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 Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $1.7B $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 118 stocks · $1.7B
CSCO Cisco Systems Inc. 3.26% 801,849 $55.6M Add +7.8%
MSFT Microsoft Corp. 3.23% 110,959 $55.2M Add +6.4%
JNJ Johnson & Johnson 3.22% 360,134 $55.0M Add +8.4%
TXN Texas Instruments Inc. 3.18% 261,671 $54.3M Add +14.0%
PAYX Paychex Inc. 2.73% 321,073 $46.7M Add +12.7%
LMT Lockheed Martin Corp. 2.58% 95,103 $44.0M Add +9.0%
CB Chubb Ltd. 2.56% 150,829 $43.7M Add +1.9%
ACN Accenture PLC Class A 2.49% 142,054 $42.5M Add +23.0%
PFE Pfizer Inc. 2.44% 1,718,658 $41.7M Add +12.9%
HD Home Depot Inc. 2.27% 105,558 $38.7M Add +8.7%
TSCO Tractor Supply Company 1.99% 643,645 $34.0M Add +44.5%
MDT Medtronic PLC 1.95% 382,676 $33.4M Add +8.6%
PG The Procter & Gamble Co. 1.87% 200,343 $31.9M Add +27.4%
AFL Aflac Inc. 1.83% 296,483 $31.3M Add +8.1%
CAT Caterpillar Inc. 1.81% 79,608 $30.9M Add +7.9%
PEP Pepsico Inc. 1.76% 227,452 $30.0M Add +15.9%
WMT Walmart Inc. 1.75% 304,826 $29.8M Add +0.9%
HSY The Hershey Co. 1.73% 178,445 $29.6M Add +9.7%
T AT&T Inc. 1.72% 1,013,610 $29.3M Add +4.1%
ETN Eaton Corp. PLC 1.61% 76,840 $27.4M Add +24.7%
CLX Clorox Company 1.57% 222,906 $26.8M Add +10.0%
UPS United Parcel Service Class B 1.54% 260,548 $26.3M Add +8.7%
SHEL Shell PLC-ADR 1.50% 362,769 $25.5M Add +7.1%
DGX Quest Diagnostics Inc. 1.44% 136,900 $24.6M Add +14.0%
XOM Exxon Mobil Corp. 1.44% 227,789 $24.6M Add +8.2%
ADP Automatic Data Processing 1.43% 79,337 $24.5M Add +13.8%
VZ Verizon Communications Inc. 1.43% 562,678 $24.3M Reduce -18.9%
SNY Sanofi-ADR 1.41% 500,200 $24.2M Add +56.0%
KMB Kimberly-Clark Corp. 1.41% 187,240 $24.1M Add +13.9%
COP Conocophillips 1.33% 252,330 $22.6M Add +13.3%
AAPL Apple Inc. 1.32% 109,645 $22.5M Add +12.6%
DRI Darden Restaurants Inc. 1.32% 103,100 $22.5M Reduce -1.5%
BHP BHP Group Ltd.-Spon ADR 1.29% 456,616 $22.0M Add +11.1%
MCD McDonald's Corp. 1.26% 73,791 $21.6M Add +13.9%
AEP American Electric Power 1.23% 202,900 $21.1M Add +13.4%
MRK Merck & Co. Inc. 1.22% 263,182 $20.8M Add +40.2%
MMM 3M Co. 1.20% 134,234 $20.4M Add +9.9%
AMAT Applied Materials Inc. 1.19% 111,254 $20.4M Add +6.3%
KVUE Kenvue Inc. 1.19% 968,276 $20.3M Add +9.0%
JPM JPMorgan Chase & Co. 1.17% 68,920 $20.0M Add +15.8%
GNRC Generac Holdings Inc. 1.09% 129,989 $18.6M Add +22.3%
EMR Emerson Electric Co. 1.09% 139,600 $18.6M Add +13.4%
DUK Duke Energy Corp. 1.04% 149,982 $17.7M Add +13.4%
DE Deere & Co. 1.02% 34,200 $17.4M Add +13.6%
AXP American Express Co. 1.01% 54,288 $17.3M Add +1.1%
LOW Lowe's Cos Inc. 1.01% 78,047 $17.3M Add +14.0%
LH Labcorp Holdings Inc. 1.01% 65,906 $17.3M Add +0.1%
GPC Genuine Parts Co. 0.99% 138,731 $16.8M Add +14.0%
NVDA Nvidia Corp. 0.97% 104,853 $16.6M Reduce -1.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.91% 160,600 $15.5M Reduce -10.7%
ABT Abbott Laboratories 0.85% 106,966 $14.5M New
GD General Dynamics Corp. 0.82% 48,300 $14.1M Add +13.4%
VLO Valero Energy Corp. 0.82% 104,600 $14.1M Add +13.7%
FTNT Fortinet Inc. 0.81% 130,448 $13.8M Add +0.9%
MA Mastercard Inc. Class A 0.77% 23,490 $13.2M Add +36.4%
KEYS Keysight Technologies Inc. 0.74% 77,054 $12.6M Add +1.3%
TGT Target Corp. 0.74% 127,684 $12.6M Add +10.9%
ZTS Zoetis Inc. 0.69% 75,849 $11.8M Add +23.4%
CVX Chevron Corp. 0.68% 81,287 $11.6M Add +13.7%
WAT Waters Corp. 0.66% 32,205 $11.2M Add +1.1%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.64% 10,457 $10.9M Add +37.0%
RGA Reinsurance Group of America 0.63% 54,011 $10.7M Add +0.6%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.62% 54,351 $10.6M Add +89.1%
FDS Factset Research Systems Inc. 0.55% 20,916 $9.4M Add +26.9%
GOOGL Alphabet Inc. Class A 0.52% 50,678 $8.9M Add +0.8%
ROST Ross Stores Inc. 0.52% 69,315 $8.8M Add +35.7%
MSM MSC Industrial Direct Co. Class A 0.51% 103,398 $8.8M Add +12.8%
LLY Eli Lilly & Co. 0.43% 9,456 $7.4M New
TTE Totalenergies SE -Spon ADR 0.42% 117,137 $7.2M Add +14.7%
INTC Intel Corp. 0.40% 302,499 $6.8M Add +1.1%
ADBE Adobe Inc. 0.38% 16,749 $6.5M Add +0.9%
MUR Murphy Oil Corp. 0.32% 239,336 $5.4M Reduce -0.3%
RSP Invesco S&P 500 Equal Weight 0.24% 22,742 $4.1M Add +61.3%
MEDP Medpace Holdings Inc. 0.23% 12,250 $3.8M Add +56.1%
QLYS Qualys Inc. 0.20% 23,611 $3.4M Add +68.8%
FTDR Frontdoor Inc. 0.18% 52,394 $3.1M Add +60.7%
NRC NRC Health filed as NATIONAL RESH CORP 0.18% 180,999 $3.0M Add +175.2%
LOGI Logitech International-Reg 0.16% 30,942 $2.8M Add +70.5%
GIL Gildan Activewear Inc. 0.15% 53,156 $2.6M Add +87.8%
STRL Sterling Infrastructure Inc. 0.14% 10,672 $2.5M Add +81.8%
DCI Donaldson Co. Inc. 0.14% 34,184 $2.4M Add +86.6%
CSGS CSG Systems Intl Inc. 0.14% 35,341 $2.3M Add +91.3%
EVTC Evertec Inc. 0.13% 62,033 $2.2M Add +63.1%
PAYC Paycom Software Inc. 0.13% 9,651 $2.2M Add +93.5%
AOS Smith (a.o.) Corp. 0.12% 31,292 $2.1M Add +70.4%
UI Ubiquiti Inc. 0.12% 4,945 $2.0M Add +90.0%
LQDT Liquidity Services Inc. 0.11% 81,523 $1.9M Add +88.4%
HXL Hexcel Corp. 0.09% 28,506 $1.6M Add +60.8%
VRSN Verisign Inc. 0.09% 5,283 $1.5M Add +10.4%
JBTM JBT Marel Corp. 0.09% 12,346 $1.5M Add +65.8%
TTC Toro Co. 0.07% 17,145 $1.2M Add +93.9%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.06% 5,719 $1.0M Add +54.6%
PAR Par Technology Corp. 0.06% 14,722 $1.0M Reduce -2.5%
DLB Dolby Laboratories Inc. Class A 0.06% 12,806 $951K Add +89.9%
ZBRA Zebra Technologies Corp. Class A 0.06% 3,070 $947K New
MXCT Maxcyte Inc. 0.05% 380,471 $829K No change
ATKR Atkore Inc. 0.05% 11,656 $822K Add +85.7%
META Meta Platforms Inc. Class A 0.05% 1,064 $785K New
KO The Coca-Cola Co. 0.05% 11,007 $779K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 2,567 $718K No change
LAMR Lamar Advertising Co. Class A 0.04% 5,733 $696K Add +92.1%
FIZZ National Beverage Corp. 0.03% 12,539 $542K Add +90.1%
OEF iShares S&P 100 ETF 0.03% 1,781 $542K No change
AVY Avery Dennison Corp. 0.03% 2,802 $492K New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.03% 1,664 $491K Add +9.0%
SO The Southern Co. 0.02% 4,547 $418K Reduce -15.3%
DTD Wisdomtree US Total Dividend 0.02% 5,241 $417K No change
QXO Qxo Inc. 0.02% 15,000 $323K No change
COF Capital One Financial Corp. 0.02% 1,500 $319K No change
SUN Sunoco LP 0.02% 4,883 $262K No change
VTI VG Morningstar TS MKT ETF-US 0.02% 851 $259K No change
GOOG Alphabet Inc. Class C 0.01% 1,291 $229K No change
VOO Vanguard S&P 500 ETF 0.01% 389 $221K New
SMMT Summit Therapeutics Inc. 0.01% 10,000 $213K No change
ABBV Abbvie Inc. 0.01% 1,141 $212K No change
FLO Flowers Foods Inc. 0.01% 10,294 $164K No change
MYCX Mycelx Technologies Corp.-Add 0.00% 10,360 $4K No change
PSWS Puresafe Water Systems Inc. 0.00% 14,000 $1 No change

Portfolio Sells Q1 2025 → Q2 2025
VZ Verizon Communications Inc. Reduce -18.9% 1.43% −0.69
MOS The Mosaic Co. Sold out 0.00% −0.25
TROW T Rowe Price Group Inc. Reduce -10.7% 0.91% −0.20
AAP Advance Auto Parts Inc. Sold out 0.00% −0.19
DRI Darden Restaurants Inc. Reduce -1.5% 1.32% −0.15
MUR Murphy Oil Corp. Reduce -0.3% 0.32% −0.14
FTRE Fortrea Holdings Inc. Sold out 0.00% −0.09
VENU Venu Holding Corp. Sold out 0.00% −0.02
IWN iShares Russell 2000 Value E Sold out 0.00% −0.01
SO The Southern Co. Reduce -15.3% 0.02% −0.01
PAR Par Technology Corp. Reduce -2.5% 0.06% −0.00
NVDA Nvidia Corp. Reduce -1.9% 0.97% +0.19

Portfolio Buys Q1 2025 → Q2 2025
ABT Abbott Laboratories New 0.85% +0.85
MSFT Microsoft Corp. Add +6.4% 3.23% +0.60
ETN Eaton Corp. PLC Add +24.7% 1.61% +0.48
LLY Eli Lilly & Co. New 0.43% +0.43
TXN Texas Instruments Inc. Add +14.0% 3.18% +0.41
TSCO Tractor Supply Company Add +44.5% 1.99% +0.34
VBR Vngrd Mrngst SL-CP Val ETF-U Add +89.1% 0.62% +0.26
SNY Sanofi-ADR Add +56.0% 1.41% +0.22
JPM JPMorgan Chase & Co. Add +15.8% 1.17% +0.19
GNRC Generac Holdings Inc. Add +22.3% 1.09% +0.18
EMR Emerson Electric Co. Add +13.4% 1.09% +0.18
CAT Caterpillar Inc. Add +7.9% 1.81% +0.17
AMAT Applied Materials Inc. Add +6.3% 1.19% +0.17
CSCO Cisco Systems Inc. Add +7.8% 3.26% +0.17
MA Mastercard Inc. Class A Add +36.4% 0.77% +0.14
GWW WW Grainger Inc. Add +37.0% 0.64% +0.13
NRC NRC Health Add +175.2% 0.18% +0.12
STRL Sterling Infrastructure Inc. Add +81.8% 0.14% +0.10
FTDR Frontdoor Inc. Add +60.7% 0.18% +0.10
MRK Merck & Co. Inc. Add +40.2% 1.22% +0.09
QLYS Qualys Inc. Add +68.8% 0.20% +0.08
ROST Ross Stores Inc. Add +35.7% 0.52% +0.08
RSP Invesco S&P 500 Equal Weight Add +61.3% 0.24% +0.08
DGX Quest Diagnostics Inc. Add +14.0% 1.44% +0.07
GIL Gildan Activewear Inc. Add +87.8% 0.15% +0.07
DE Deere & Co. Add +13.6% 1.02% +0.07
PG The Procter & Gamble Co. Add +27.4% 1.87% +0.07
UI Ubiquiti Inc. Add +90.0% 0.12% +0.06
MEDP Medpace Holdings Inc. Add +56.1% 0.23% +0.06
ACN Accenture PLC Class A Add +23.0% 2.49% +0.06
LOGI Logitech International-Reg Add +70.5% 0.16% +0.06
CSGS CSG Systems Intl Inc. Add +91.3% 0.14% +0.06
PAYC Paycom Software Inc. Add +93.5% 0.13% +0.06
DCI Donaldson Co. Inc. Add +86.6% 0.14% +0.06
ZBRA Zebra Technologies Corp. Class A New 0.06% +0.06
META Meta Platforms Inc. Class A New 0.05% +0.05
GD General Dynamics Corp. Add +13.4% 0.82% +0.04
FDS Factset Research Systems Inc. Add +26.9% 0.55% +0.04
AXP American Express Co. Add +1.1% 1.01% +0.04
AOS Smith (a.o.) Corp. Add +70.4% 0.12% +0.04
EVTC Evertec Inc. Add +63.1% 0.13% +0.04
MSM MSC Industrial Direct Co. Class A Add +12.8% 0.51% +0.04
HXL Hexcel Corp. Add +60.8% 0.09% +0.03
AVY Avery Dennison Corp. New 0.03% +0.03
TTC Toro Co. Add +93.9% 0.07% +0.03
JBTM JBT Marel Corp. Add +65.8% 0.09% +0.03
ATKR Atkore Inc. Add +85.7% 0.05% +0.02
LQDT Liquidity Services Inc. Add +88.4% 0.11% +0.02
DLB Dolby Laboratories Inc. Class A Add +89.9% 0.06% +0.02
LAMR Lamar Advertising Co. Class A Add +92.1% 0.04% +0.02

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