Willis Investment Counsel

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), Willis Investment Counsel reported 130 stock positions worth $1.9 billion. Its top holding was Johnson & Johnson (JNJ) at 3.9% of the portfolio, followed by Cisco Systems (CSCO, 3.3%) and Microsoft (MSFT, 2.8%). Compared with Q3 2025, it opened 4 new positions, sold out of 1, added to 75 and reduced 21. The biggest buy was a new position in Waste Management (WM) and the biggest sale Clorox (CLX, shares −12%).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.9B (Q4 2025)
SEC Filing
0001310929-26-000001 ↗ filed Jan 22, 2026

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 Q3 2025 Q4 2025: $1.9B $1.9B Q4 2025 Q1 2026: $1.8B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 130 stocks · $1.9B
JNJ Johnson & Johnson 3.91% 365,399 $75.6M Add +1.5%
CSCO Cisco Systems Inc. 3.32% 833,033 $64.2M Add +1.7%
MSFT Microsoft Corp. 2.83% 113,070 $54.7M Add +2.0%
ACN Accenture PLC Class A 2.69% 193,768 $52.0M Add +2.8%
CB Chubb Ltd. 2.47% 153,421 $47.9M Add +2.0%
TXN Texas Instruments Inc. 2.38% 265,891 $46.1M Add +1.6%
CAT Caterpillar Inc. 2.37% 79,891 $45.8M Add +2.8%
LMT Lockheed Martin Corp. 2.36% 94,257 $45.6M Reduce -5.5%
PFE Pfizer Inc. 2.20% 1,713,464 $42.7M Add +0.6%
MDT Medtronic PLC 1.97% 397,253 $38.2M Reduce -1.1%
HD Home Depot Inc. 1.91% 107,250 $36.9M Add +1.7%
PAYX Paychex Inc. 1.89% 326,672 $36.6M Add +1.7%
WMT Walmart Inc. 1.76% 305,526 $34.0M No change
TSCO Tractor Supply Company 1.75% 677,691 $33.9M Add +5.1%
AFL Aflac Inc. 1.72% 301,094 $33.2M Add +2.4%
MRK Merck & Co. Inc. 1.71% 313,718 $33.0M Reduce -0.0%
HSY The Hershey Co. 1.70% 180,544 $32.9M Add +1.6%
PEP Pepsico Inc. 1.70% 228,650 $32.8M Add +0.5%
PG The Procter & Gamble Co. 1.56% 210,020 $30.1M Reduce -0.2%
AAPL Apple Inc. 1.54% 109,586 $29.8M Reduce -0.4%
SNY Sanofi-ADR 1.51% 604,000 $29.3M Add +8.5%
BHP BHP Group Ltd.-Spon ADR 1.48% 474,843 $28.7M Reduce -5.8%
XOM Exxon Mobil Corp. 1.43% 229,423 $27.6M Add +1.4%
DGX Quest Diagnostics Inc. 1.36% 151,800 $26.3M No change
MCD McDonald's Corp. 1.34% 84,785 $25.9M No change
T AT&T Inc. 1.30% 1,015,610 $25.2M Reduce 0.0%
JPM JPMorgan Chase & Co. 1.30% 77,879 $25.1M Reduce -0.1%
ABT Abbott Laboratories 1.29% 199,349 $25.0M Add +86.4%
ETN Eaton Corp. PLC 1.27% 77,073 $24.5M No change
COP Conocophillips 1.24% 256,761 $24.0M Add +2.2%
AEP American Electric Power 1.21% 203,538 $23.5M No change
DRI Darden Restaurants Inc. 1.17% 122,600 $22.6M No change
LLY Eli Lilly & Co. 1.16% 20,926 $22.5M Add +5.8%
GD General Dynamics Corp. 1.16% 66,700 $22.5M No change
VZ Verizon Communications Inc. 1.16% 549,500 $22.4M Reduce -2.4%
ADP Automatic Data Processing 1.14% 85,656 $22.0M No change
MMM 3M Co. 1.13% 136,141 $21.8M Add +1.6%
AXP American Express Co. 1.08% 56,680 $21.0M Add +5.3%
UPS United Parcel Service Class B 1.08% 210,373 $20.9M Reduce -8.0%
CLX Clorox Company 1.07% 204,600 $20.6M Reduce -12.0%
SHEL Shell PLC-ADR 1.05% 276,722 $20.3M Add +1.0%
NVDA Nvidia Corp. 1.05% 108,863 $20.3M Add +4.5%
LOW Lowe's Cos Inc. 1.04% 83,418 $20.1M No change
KMB Kimberly-Clark Corp. 1.03% 197,015 $19.9M Reduce -0.1%
GNRC Generac Holdings Inc. 1.01% 143,137 $19.5M Add +10.5%
DUK Duke Energy Corp. 0.97% 160,282 $18.8M No change
EMR Emerson Electric Co. 0.96% 139,600 $18.5M No change
GPC Genuine Parts Co. 0.88% 139,019 $17.1M No change
VLO Valero Energy Corp. 0.88% 104,600 $17.0M No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.86% 78,792 $16.7M Add +44.7%
GWW WW Grainger Inc. 0.86% 16,507 $16.7M Add +5.9%
GOOGL Alphabet Inc. Class A 0.85% 52,358 $16.4M Add +3.9%
KEYS Keysight Technologies Inc. 0.85% 80,609 $16.4M Add +5.7%
LH Labcorp Holdings Inc. 0.84% 64,996 $16.3M Add +6.2%
DE Deere & Co. 0.83% 34,300 $16.0M Reduce -0.1%
AMAT Applied Materials Inc. 0.82% 61,934 $15.9M Add +3.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.82% 154,600 $15.8M Reduce -1.8%
FTNT Fortinet Inc. 0.80% 194,113 $15.4M Add +5.9%
CVX Chevron Corp. 0.79% 99,995 $15.2M Reduce -0.0%
WM Waste Management Inc. 0.78% 69,021 $15.2M New
ADBE Adobe Inc. 0.74% 40,715 $14.2M Add +138.9%
MA Mastercard Inc. Class A 0.73% 24,711 $14.1M Add +5.8%
ZTS Zoetis Inc. 0.68% 104,216 $13.1M Add +40.1%
ROST Ross Stores Inc. 0.67% 72,482 $13.1M Add +5.3%
WAT Waters Corp. 0.65% 33,144 $12.6M Add +4.5%
RSP Invesco S&P 500 Equal Weight 0.65% 65,513 $12.5M Add +31.2%
HUBB Hubbell Inc. 0.63% 27,527 $12.2M Add +5.7%
RGA Reinsurance Group of America 0.59% 56,330 $11.5M Add +5.7%
META Meta Platforms Inc. Class A 0.59% 17,244 $11.4M Add +7.1%
KVUE Kenvue Inc. 0.58% 655,600 $11.3M No change
INTC Intel Corp. 0.58% 304,384 $11.2M Add +4.0%
TGT Target Corp. 0.58% 114,800 $11.2M Reduce -10.3%
SHW The Sherwin-Williams Co. 0.40% 23,783 $7.7M Add +6.0%
FDS Factset Research Systems Inc. 0.34% 23,002 $6.7M Add +11.4%
MEDP Medpace Holdings Inc. 0.28% 9,590 $5.4M Reduce -23.2%
GIL Gildan Activewear Inc. 0.25% 77,968 $4.9M Add +48.5%
STRL Sterling Infrastructure Inc. 0.24% 15,388 $4.7M Add +47.1%
DCI Donaldson Co. Inc. 0.24% 52,611 $4.7M Add +49.7%
FTDR Frontdoor Inc. 0.22% 75,237 $4.3M Add +40.5%
QLYS Qualys Inc. 0.22% 32,624 $4.3M Add +39.7%
LOGI Logitech International-Reg 0.22% 42,747 $4.3M Add +40.0%
CSGS CSG Systems Intl Inc. 0.21% 54,097 $4.1M Add +48.5%
LQDT Liquidity Services Inc. 0.20% 124,869 $3.8M Add +49.2%
PAYC Paycom Software Inc. 0.18% 22,100 $3.5M Add +122.2%
NRC NRC Health filed as NATIONAL RESH CORP 0.18% 183,226 $3.4M Add +1.6%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.17% 17,611 $3.2M Add +201.2%
MSM MSC Industrial Direct Co. Class A 0.16% 37,870 $3.2M Add +48.6%
HXL Hexcel Corp. 0.16% 41,437 $3.1M Add +42.1%
AOS Smith (a.o.) Corp. 0.16% 45,511 $3.0M Add +42.0%
EVTC Evertec Inc. 0.14% 90,430 $2.6M Add +42.3%
ATKR Atkore Inc. 0.13% 39,351 $2.5M Add +237.7%
PAR Par Technology Corp. 0.12% 64,595 $2.3M Add +335.6%
LAMR Lamar Advertising Co. Class A 0.12% 18,405 $2.3M Add +50.7%
ZBRA Zebra Technologies Corp. Class A 0.12% 9,453 $2.3M Add +201.6%
VRSN Verisign Inc. 0.11% 8,493 $2.1M Add +57.5%
TTC Toro Co. 0.11% 25,896 $2.0M Add +46.7%
UI Ubiquiti Inc. 0.10% 3,648 $2.0M Add +39.1%
AVY Avery Dennison Corp. 0.09% 9,856 $1.8M Add +244.9%
JBTM JBT Marel Corp. 0.08% 10,796 $1.6M Add +1.5%
MXCT Maxcyte Inc. 0.07% 862,758 $1.3M No change

Show all 130 holdings

Portfolio Sells Q3 2025 → Q4 2025
CLX Clorox Company Reduce -12.0% 1.07% −0.50
LMT Lockheed Martin Corp. Reduce -5.5% 2.36% −0.37
KMB Kimberly-Clark Corp. Reduce -0.1% 1.03% −0.31
T AT&T Inc. Reduce 0.0% 1.30% −0.27
PG The Procter & Gamble Co. Reduce -0.2% 1.56% −0.21
VZ Verizon Communications Inc. Reduce -2.4% 1.16% −0.20
MDT Medtronic PLC Reduce -1.1% 1.97% −0.12
MEDP Medpace Holdings Inc. Reduce -23.2% 0.28% −0.07
TROW T Rowe Price Group Inc. Reduce -1.8% 0.82% −0.07
CVX Chevron Corp. Reduce -0.0% 0.79% −0.06
BHP BHP Group Ltd.-Spon ADR Reduce -5.8% 1.48% −0.06
JPM JPMorgan Chase & Co. Reduce -0.1% 1.30% −0.05
TGT Target Corp. Reduce -10.3% 0.58% −0.05
DE Deere & Co. Reduce -0.1% 0.83% −0.03
KO The Coca-Cola Co. Reduce -5.6% 0.05% −0.00
ABBV Abbvie Inc. Reduce -10.5% 0.01% −0.00
DTD Wisdomtree US Total Dividend Reduce -3.3% 0.02% −0.00
SEGI Sycamore Entertainment Group Sold out 0.00% 0.00
COF Capital One Financial Corp. Reduce -5.5% 0.02% +0.00
AAPL Apple Inc. Reduce -0.4% 1.54% +0.01
UPS United Parcel Service Class B Reduce -8.0% 1.08% +0.03
MRK Merck & Co. Inc. Reduce -0.0% 1.71% +0.27

Portfolio Buys Q3 2025 → Q4 2025
WM Waste Management Inc. New 0.78% +0.78
ABT Abbott Laboratories Add +86.4% 1.29% +0.51
ADBE Adobe Inc. Add +138.9% 0.74% +0.41
LLY Eli Lilly & Co. Add +5.8% 1.16% +0.34
CAT Caterpillar Inc. Add +2.8% 2.37% +0.34
JNJ Johnson & Johnson Add +1.5% 3.91% +0.26
CSCO Cisco Systems Inc. Add +1.7% 3.32% +0.25
VBR Vngrd Mrngst SL-CP Val ETF-U Add +44.7% 0.86% +0.24
GOOGL Alphabet Inc. Class A Add +3.9% 0.85% +0.18
AMAT Applied Materials Inc. Add +3.9% 0.82% +0.15
CB Chubb Ltd. Add +2.0% 2.47% +0.15
ACN Accenture PLC Class A Add +2.8% 2.69% +0.14
RSP Invesco S&P 500 Equal Weight Add +31.2% 0.65% +0.13
WAT Waters Corp. Add +4.5% 0.65% +0.13
JKHY Jack Henry & Associates Inc. Add +201.2% 0.17% +0.12
KEYS Keysight Technologies Inc. Add +5.7% 0.85% +0.12
AXP American Express Co. Add +5.3% 1.08% +0.11
ROST Ross Stores Inc. Add +5.3% 0.67% +0.10
PAR Par Technology Corp. Add +335.6% 0.12% +0.09
ATKR Atkore Inc. Add +237.7% 0.13% +0.09
CSGS CSG Systems Intl Inc. Add +48.5% 0.21% +0.09
GIL Gildan Activewear Inc. Add +48.5% 0.25% +0.09
DCI Donaldson Co. Inc. Add +49.7% 0.24% +0.08
ZTS Zoetis Inc. Add +40.1% 0.68% +0.08
SNY Sanofi-ADR Add +8.5% 1.51% +0.08
LQDT Liquidity Services Inc. Add +49.2% 0.20% +0.07
PZZA Papa John's Intl Inc. New 0.07% +0.07
PAYC Paycom Software Inc. Add +122.2% 0.18% +0.07
ZBRA Zebra Technologies Corp. Class A Add +201.6% 0.12% +0.07
AVY Avery Dennison Corp. Add +244.9% 0.09% +0.07
HXL Hexcel Corp. Add +42.1% 0.16% +0.06
QLYS Qualys Inc. Add +39.7% 0.22% +0.06
NRC NRC Health Add +1.6% 0.18% +0.05
STRL Sterling Infrastructure Inc. Add +47.1% 0.24% +0.05
ALGN Align Technology Inc. New 0.05% +0.05
GWW WW Grainger Inc. Add +5.9% 0.86% +0.05
INTC Intel Corp. Add +4.0% 0.58% +0.04
LAMR Lamar Advertising Co. Class A Add +50.7% 0.12% +0.04
LOGI Logitech International-Reg Add +40.0% 0.22% +0.04
MSM MSC Industrial Direct Co. Class A Add +48.6% 0.16% +0.04
RGA Reinsurance Group of America Add +5.7% 0.59% +0.03
TTC Toro Co. Add +46.7% 0.11% +0.03
XOM Exxon Mobil Corp. Add +1.4% 1.43% +0.03
AOS Smith (a.o.) Corp. Add +42.0% 0.16% +0.03
FTDR Frontdoor Inc. Add +40.5% 0.22% +0.03
VRSN Verisign Inc. Add +57.5% 0.11% +0.02
FDS Factset Research Systems Inc. Add +11.4% 0.34% +0.02
VENU Venu Holding Corp. Add +180.0% 0.05% +0.02
HUBB Hubbell Inc. Add +5.7% 0.63% +0.02
EVTC Evertec Inc. Add +42.3% 0.14% +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