Willis Investment Counsel

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Willis Investment Counsel reported 127 stock positions worth $1.8 billion. Its top holding was Johnson & Johnson (JNJ) at 3.7% of the portfolio, followed by Microsoft (MSFT, 3.1%) and Cisco Systems (CSCO, 3.1%). Compared with Q2 2025, it opened 12 new positions, sold out of 3, added to 60 and reduced 43. The biggest buy was a new position in Hubbell (HUBB) and the biggest sale Kenvue (KVUE, shares −32%).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.8B (Q3 2025)
SEC Filing
0001310929-25-000006 ↗ filed Nov 5, 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 Q2 2025 Q3 2025: $1.8B $1.8B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $1.8B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 127 stocks · $1.8B
JNJ Johnson & Johnson 3.65% 360,135 $66.8M Add +0.0%
MSFT Microsoft Corp. 3.14% 110,824 $57.4M Reduce -0.1%
CSCO Cisco Systems Inc. 3.07% 819,263 $56.1M Add +2.2%
LMT Lockheed Martin Corp. 2.72% 99,778 $49.8M Add +4.9%
TXN Texas Instruments Inc. 2.63% 261,625 $48.1M Reduce -0.0%
ACN Accenture PLC Class A 2.54% 188,497 $46.5M Add +32.7%
PFE Pfizer Inc. 2.37% 1,703,640 $43.4M Reduce -0.9%
HD Home Depot Inc. 2.34% 105,498 $42.7M Reduce -0.1%
CB Chubb Ltd. 2.32% 150,475 $42.5M Reduce -0.2%
PAYX Paychex Inc. 2.23% 321,133 $40.7M Add +0.0%
MDT Medtronic PLC 2.09% 401,868 $38.3M Add +5.0%
CAT Caterpillar Inc. 2.03% 77,731 $37.1M Reduce -2.4%
TSCO Tractor Supply Company 2.01% 644,903 $36.7M Add +0.2%
HSY The Hershey Co. 1.82% 177,778 $33.3M Reduce -0.4%
AFL Aflac Inc. 1.80% 294,140 $32.9M Reduce -0.8%
PG The Procter & Gamble Co. 1.77% 210,444 $32.3M Add +5.0%
PEP Pepsico Inc. 1.75% 227,429 $31.9M Reduce -0.0%
WMT Walmart Inc. 1.72% 305,526 $31.5M Add +0.2%
DGX Quest Diagnostics Inc. 1.58% 151,800 $28.9M Add +10.9%
ETN Eaton Corp. PLC 1.58% 77,073 $28.8M Add +0.3%
T AT&T Inc. 1.57% 1,015,619 $28.7M Add +0.2%
CLX Clorox Company 1.57% 232,400 $28.7M Add +4.3%
BHP BHP Group Ltd.-Spon ADR 1.54% 504,207 $28.1M Add +10.4%
AAPL Apple Inc. 1.53% 110,059 $28.0M Add +0.4%
MRK Merck & Co. Inc. 1.44% 313,817 $26.3M Add +19.2%
SNY Sanofi-ADR 1.44% 556,700 $26.3M Add +11.3%
MCD McDonald's Corp. 1.41% 84,785 $25.8M Add +14.9%
XOM Exxon Mobil Corp. 1.40% 226,324 $25.5M Reduce -0.6%
ADP Automatic Data Processing 1.37% 85,656 $25.1M Add +8.0%
VZ Verizon Communications Inc. 1.35% 562,778 $24.7M Add +0.0%
JPM JPMorgan Chase & Co. 1.35% 77,979 $24.6M Add +13.1%
KMB Kimberly-Clark Corp. 1.34% 197,140 $24.5M Add +5.3%
COP Conocophillips 1.30% 251,300 $23.8M Reduce -0.4%
DRI Darden Restaurants Inc. 1.28% 122,600 $23.3M Add +18.9%
AEP American Electric Power 1.25% 203,538 $22.9M Add +0.3%
GD General Dynamics Corp. 1.24% 66,700 $22.7M Add +38.1%
GNRC Generac Holdings Inc. 1.19% 129,584 $21.7M Reduce -0.3%
LOW Lowe's Cos Inc. 1.15% 83,418 $21.0M Add +6.9%
MMM 3M Co. 1.14% 134,064 $20.8M Reduce -0.1%
DUK Duke Energy Corp. 1.08% 160,282 $19.8M Add +6.9%
SHEL Shell PLC-ADR 1.07% 273,939 $19.6M Reduce -24.5%
NVDA Nvidia Corp. 1.06% 104,217 $19.4M Reduce -0.6%
GPC Genuine Parts Co. 1.05% 139,019 $19.3M Add +0.2%
UPS United Parcel Service Class B 1.04% 228,731 $19.1M Reduce -12.2%
EMR Emerson Electric Co. 1.00% 139,600 $18.3M No change
AXP American Express Co. 0.98% 53,817 $17.9M Reduce -0.9%
VLO Valero Energy Corp. 0.97% 104,600 $17.8M No change
LH Labcorp Holdings Inc. 0.96% 61,178 $17.6M Reduce -7.2%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.88% 157,500 $16.2M Reduce -1.9%
DE Deere & Co. 0.86% 34,345 $15.7M Add +0.4%
CVX Chevron Corp. 0.85% 100,029 $15.5M Add +23.1%
FTNT Fortinet Inc. 0.84% 183,300 $15.4M Add +40.5%
LLY Eli Lilly & Co. 0.82% 19,770 $15.1M Add +109.1%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.81% 15,582 $14.8M Add +49.0%
ABT Abbott Laboratories 0.78% 106,966 $14.3M No change
KEYS Keysight Technologies Inc. 0.73% 76,276 $13.3M Reduce -1.0%
MA Mastercard Inc. Class A 0.73% 23,361 $13.3M Reduce -0.6%
GOOGL Alphabet Inc. Class A 0.67% 50,386 $12.2M Reduce -0.6%
AMAT Applied Materials Inc. 0.67% 59,633 $12.2M Reduce -46.4%
META Meta Platforms Inc. Class A 0.65% 16,101 $11.8M Add +1413.3%
TGT Target Corp. 0.63% 127,962 $11.5M Add +0.2%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.62% 54,448 $11.4M Add +0.2%
HUBB Hubbell Inc. 0.61% 26,048 $11.2M New
ZTS Zoetis Inc. 0.60% 74,410 $10.9M Reduce -1.9%
KVUE Kenvue Inc. 0.58% 655,600 $10.6M Reduce -32.3%
ROST Ross Stores Inc. 0.57% 68,819 $10.5M Reduce -0.7%
RGA Reinsurance Group of America 0.56% 53,291 $10.2M Reduce -1.3%
INTC Intel Corp. 0.54% 292,697 $9.8M Reduce -3.2%
WAT Waters Corp. 0.52% 31,732 $9.5M Reduce -1.5%
RSP Invesco S&P 500 Equal Weight 0.52% 49,918 $9.5M Add +119.5%
SHW The Sherwin-Williams Co. 0.42% 22,429 $7.8M New
MEDP Medpace Holdings Inc. 0.35% 12,484 $6.4M Add +1.9%
ADBE Adobe Inc. 0.33% 17,044 $6.0M Add +1.8%
FDS Factset Research Systems Inc. 0.32% 20,656 $5.9M Reduce -1.2%
FTDR Frontdoor Inc. 0.20% 53,533 $3.6M Add +2.2%
STRL Sterling Infrastructure Inc. 0.19% 10,458 $3.6M Reduce -2.0%
LOGI Logitech International-Reg 0.18% 30,526 $3.3M Reduce -1.3%
QLYS Qualys Inc. 0.17% 23,360 $3.1M Reduce -1.1%
GIL Gildan Activewear Inc. 0.17% 52,517 $3.0M Reduce -1.2%
DCI Donaldson Co. Inc. 0.16% 35,152 $2.9M Add +2.8%
AOS Smith (a.o.) Corp. 0.13% 32,058 $2.4M Add +2.5%
MSM MSC Industrial Direct Co. Class A 0.13% 25,487 $2.3M Reduce -75.3%
CSGS CSG Systems Intl Inc. 0.13% 36,416 $2.3M Add +3.0%
NRC NRC Health filed as NATIONAL RESH CORP 0.13% 180,306 $2.3M Reduce -0.4%
LQDT Liquidity Services Inc. 0.13% 83,692 $2.3M Add +2.7%
EVTC Evertec Inc. 0.12% 63,556 $2.1M Add +2.5%
PAYC Paycom Software Inc. 0.11% 9,944 $2.1M Add +3.0%
HXL Hexcel Corp. 0.10% 29,165 $1.8M Add +2.3%
UI Ubiquiti Inc. 0.09% 2,622 $1.7M Reduce -47.0%
VRSN Verisign Inc. 0.08% 5,391 $1.5M Add +2.0%
LAMR Lamar Advertising Co. Class A 0.08% 12,211 $1.5M Add +113.0%
JBTM JBT Marel Corp. 0.08% 10,640 $1.5M Reduce -13.8%
MXCT Maxcyte Inc. 0.07% 862,758 $1.4M Add +126.8%
TTC Toro Co. 0.07% 17,653 $1.3M Add +3.0%
IJH iShares Core S&P Midcap ETF 0.06% 16,164 $1.1M New
DLB Dolby Laboratories Inc. Class A 0.05% 13,168 $953K Add +2.8%
ZBRA Zebra Technologies Corp. Class A 0.05% 3,134 $931K Add +2.1%
KO The Coca-Cola Co. 0.05% 13,467 $893K Add +22.4%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.05% 5,847 $871K Add +2.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 2,567 $754K No change
ATKR Atkore Inc. 0.04% 11,653 $731K Reduce -0.0%
TECH Bio-Techne Corp. 0.03% 11,053 $615K New
PAR Par Technology Corp. 0.03% 14,828 $587K Add +0.7%
OEF iShares S&P 100 ETF 0.03% 1,654 $551K Reduce -7.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.03% 1,930 $545K Add +16.0%
VENU Venu Holding Corp. filed as VENU HLDG CORP 0.03% 37,500 $480K New
VOO Vanguard S&P 500 ETF 0.03% 767 $470K Add +97.2%
AVY Avery Dennison Corp. 0.03% 2,858 $463K Add +2.0%
DTD Wisdomtree US Total Dividend 0.02% 5,241 $440K No change
SO The Southern Co. 0.02% 4,447 $421K Reduce -2.2%
GOOG Alphabet Inc. Class C 0.02% 1,291 $314K No change
COF Capital One Financial Corp. 0.02% 1,361 $289K Reduce -9.3%
QXO Qxo Inc. 0.02% 15,000 $286K No change
ABBV Abbvie Inc. 0.02% 1,189 $275K Add +4.2%
VTI VG Morningstar TS MKT ETF-US 0.01% 824 $270K Reduce -3.2%
SUN Sunoco LP 0.01% 4,883 $244K No change
WFC Wells Fargo & Co. 0.01% 2,800 $235K New
IVW iShares S&P 500 Growth ETF 0.01% 1,929 $233K New
IEFA iShares Core MSCI Eafe ETF 0.01% 2,634 $230K New
GLW Corning Inc. 0.01% 2,756 $226K New
SMMT Summit Therapeutics Inc. 0.01% 10,000 $207K No change
MCK McKesson Corp. 0.01% 262 $202K New
IAU iShares Gold Trust 0.01% 2,750 $200K New
FLO Flowers Foods Inc. 0.01% 10,294 $134K No change
MYCX Mycelx Technologies Corp.-Add 0.00% 10,360 $4K No change
SEGI Sycamore Entertainment Group 0.00% 19,305 $10 New
PSWS Puresafe Water Systems Inc. 0.00% 14,000 $1 No change

Portfolio Sells Q2 2025 → Q3 2025
KVUE Kenvue Inc. Reduce -32.3% 0.58% −0.60
TXN Texas Instruments Inc. Reduce -0.0% 2.63% −0.55
AMAT Applied Materials Inc. Reduce -46.4% 0.67% −0.52
UPS United Parcel Service Class B Reduce -12.2% 1.04% −0.49
SHEL Shell PLC-ADR Reduce -24.5% 1.07% −0.42
TTE Totalenergies SE -Spon ADR Sold out 0.00% −0.42
MSM MSC Industrial Direct Co. Class A Reduce -75.3% 0.13% −0.39
MUR Murphy Oil Corp. Sold out 0.00% −0.32
CB Chubb Ltd. Reduce -0.2% 2.32% −0.24
FDS Factset Research Systems Inc. Reduce -1.2% 0.32% −0.22
WAT Waters Corp. Reduce -1.5% 0.52% −0.14
ZTS Zoetis Inc. Reduce -1.9% 0.60% −0.10
MSFT Microsoft Corp. Reduce -0.1% 3.14% −0.09
RGA Reinsurance Group of America Reduce -1.3% 0.56% −0.07
PFE Pfizer Inc. Reduce -0.9% 2.37% −0.06
MMM 3M Co. Reduce -0.1% 1.14% −0.06
LH Labcorp Holdings Inc. Reduce -7.2% 0.96% −0.05
NRC NRC Health Reduce -0.4% 0.13% −0.05
MA Mastercard Inc. Class A Reduce -0.6% 0.73% −0.05
XOM Exxon Mobil Corp. Reduce -0.6% 1.40% −0.04
AXP American Express Co. Reduce -0.9% 0.98% −0.04
AFL Aflac Inc. Reduce -0.8% 1.80% −0.03
FIZZ National Beverage Corp. Sold out 0.00% −0.03
QLYS Qualys Inc. Reduce -1.1% 0.17% −0.03
COP Conocophillips Reduce -0.4% 1.30% −0.03
UI Ubiquiti Inc. Reduce -47.0% 0.09% −0.02
TROW T Rowe Price Group Inc. Reduce -1.9% 0.88% −0.02
PEP Pepsico Inc. Reduce -0.0% 1.75% −0.01
KEYS Keysight Technologies Inc. Reduce -1.0% 0.73% −0.01
ATKR Atkore Inc. Reduce -0.0% 0.04% −0.01
JBTM JBT Marel Corp. Reduce -13.8% 0.08% −0.01
COF Capital One Financial Corp. Reduce -9.3% 0.02% −0.00
OEF iShares S&P 100 ETF Reduce -7.1% 0.03% −0.00
SO The Southern Co. Reduce -2.2% 0.02% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -3.2% 0.01% −0.00
GIL Gildan Activewear Inc. Reduce -1.2% 0.17% +0.01
LOGI Logitech International-Reg Reduce -1.3% 0.18% +0.02
STRL Sterling Infrastructure Inc. Reduce -2.0% 0.19% +0.05
ROST Ross Stores Inc. Reduce -0.7% 0.57% +0.06
HD Home Depot Inc. Reduce -0.1% 2.34% +0.07
HSY The Hershey Co. Reduce -0.4% 1.82% +0.09
NVDA Nvidia Corp. Reduce -0.6% 1.06% +0.09
GNRC Generac Holdings Inc. Reduce -0.3% 1.19% +0.10
INTC Intel Corp. Reduce -3.2% 0.54% +0.14
GOOGL Alphabet Inc. Class A Reduce -0.6% 0.67% +0.15
CAT Caterpillar Inc. Reduce -2.4% 2.03% +0.22

Portfolio Buys Q2 2025 → Q3 2025
HUBB Hubbell Inc. New 0.61% +0.61
META Meta Platforms Inc. Class A Add +1413.3% 0.65% +0.60
JNJ Johnson & Johnson Add +0.0% 3.65% +0.43
SHW The Sherwin-Williams Co. New 0.42% +0.42
GD General Dynamics Corp. Add +38.1% 1.24% +0.42
LLY Eli Lilly & Co. Add +109.1% 0.82% +0.39
RSP Invesco S&P 500 Equal Weight Add +119.5% 0.52% +0.28
BHP BHP Group Ltd.-Spon ADR Add +10.4% 1.54% +0.25
MRK Merck & Co. Inc. Add +19.2% 1.44% +0.22
AAPL Apple Inc. Add +0.4% 1.53% +0.22
JPM JPMorgan Chase & Co. Add +13.1% 1.35% +0.18
GWW WW Grainger Inc. Add +49.0% 0.81% +0.18
CVX Chevron Corp. Add +23.1% 0.85% +0.17
MCD McDonald's Corp. Add +14.9% 1.41% +0.15
LMT Lockheed Martin Corp. Add +4.9% 2.72% +0.15
DGX Quest Diagnostics Inc. Add +10.9% 1.58% +0.14
MDT Medtronic PLC Add +5.0% 2.09% +0.14
LOW Lowe's Cos Inc. Add +6.9% 1.15% +0.13
MEDP Medpace Holdings Inc. Add +1.9% 0.35% +0.13
GPC Genuine Parts Co. Add +0.2% 1.05% +0.07
IJH iShares Core S&P Midcap ETF New 0.06% +0.06
ACN Accenture PLC Class A Add +32.7% 2.54% +0.06
DUK Duke Energy Corp. Add +6.9% 1.08% +0.05
LAMR Lamar Advertising Co. Class A Add +113.0% 0.08% +0.04
FTNT Fortinet Inc. Add +40.5% 0.84% +0.04
TECH Bio-Techne Corp. New 0.03% +0.03
VENU Venu Holding Corp. New 0.03% +0.03
MXCT Maxcyte Inc. Add +126.8% 0.07% +0.03
SNY Sanofi-ADR Add +11.3% 1.44% +0.02
AEP American Electric Power Add +0.3% 1.25% +0.02
DCI Donaldson Co. Inc. Add +2.8% 0.16% +0.02
TSCO Tractor Supply Company Add +0.2% 2.01% +0.02
FTDR Frontdoor Inc. Add +2.2% 0.20% +0.02
LQDT Liquidity Services Inc. Add +2.7% 0.13% +0.01
VOO Vanguard S&P 500 ETF Add +97.2% 0.03% +0.01
WFC Wells Fargo & Co. New 0.01% +0.01
IVW iShares S&P 500 Growth ETF New 0.01% +0.01
IEFA iShares Core MSCI Eafe ETF New 0.01% +0.01
GLW Corning Inc. New 0.01% +0.01
MCK McKesson Corp. New 0.01% +0.01
IAU iShares Gold Trust New 0.01% +0.01
AOS Smith (a.o.) Corp. Add +2.5% 0.13% +0.01
HXL Hexcel Corp. Add +2.3% 0.10% +0.01
KO The Coca-Cola Co. Add +22.4% 0.05% +0.00
ABBV Abbvie Inc. Add +4.2% 0.02% +0.00
TTC Toro Co. Add +3.0% 0.07% +0.00
IBM Intl Business Machines Corp. Add +16.0% 0.03% +0.00
VBR Vngrd Mrngst SL-CP Val ETF-U Add +0.2% 0.62% +0.00
CLX Clorox Company Add +4.3% 1.57% +0.00
SEGI Sycamore Entertainment Group New 0.00% 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