Willis Investment Counsel

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 5, 2026), Willis Investment Counsel reported 123 stock positions worth $1.8 billion. Its top holding was Johnson & Johnson (JNJ) at 3.9% of the portfolio, followed by Cisco Systems (CSCO, 3.5%) and Lockheed Martin (LMT, 3.0%). Compared with Q4 2025, it opened 5 new positions, sold out of 12, added to 61 and reduced 20. The biggest buy was Exxon Mobil (XOM, shares +0%) and the biggest sale an exit from Walmart (WMT).

Most Recent 13F
Q2 2026
Location
GAINESVILLE, GA
CIK
0001310929
Portfolio Value
$1.8B (Q1 2026)
SEC Filing
0001310929-26-000003 ↗ filed May 5, 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 Q4 2025 Q1 2026: $1.8B $1.8B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 123 stocks · $1.8B
JNJ Johnson & Johnson 3.86% 289,418 $70.7M Reduce -20.8%
CSCO Cisco Systems Inc. 3.53% 834,057 $64.7M Add +0.1%
LMT Lockheed Martin Corp. 3.01% 91,239 $55.1M Reduce -3.2%
TXN Texas Instruments Inc. 2.83% 266,644 $51.8M Add +0.3%
CB Chubb Ltd. 2.74% 153,791 $50.1M Add +0.2%
PFE Pfizer Inc. 2.63% 1,717,937 $48.2M Add +0.3%
MSFT Microsoft Corp. 2.29% 113,434 $42.0M Add +0.3%
PAYX Paychex Inc. 2.20% 437,030 $40.3M Add +33.8%
XOM Exxon Mobil Corp. 2.13% 229,781 $39.0M Add +0.2%
ACN Accenture PLC Class A 2.11% 194,798 $38.6M Add +0.5%
MRK Merck & Co. Inc. 2.06% 313,718 $37.7M No change
HSY The Hershey Co. 2.05% 180,961 $37.6M Add +0.2%
PEP Pepsico Inc. 1.94% 229,052 $35.6M Add +0.2%
HD Home Depot Inc. 1.93% 107,483 $35.4M Add +0.2%
CAT Caterpillar Inc. 1.92% 49,686 $35.2M Reduce -37.8%
COP Conocophillips 1.86% 257,433 $34.0M Add +0.3%
MDT Medtronic PLC 1.85% 392,048 $34.0M Reduce -1.3%
AFL Aflac Inc. 1.81% 302,180 $33.2M Add +0.4%
TSCO Tractor Supply Company 1.69% 683,231 $31.0M Add +0.8%
PG The Procter & Gamble Co. 1.65% 209,767 $30.3M Reduce -0.1%
ADP Automatic Data Processing 1.65% 148,456 $30.2M Add +73.3%
DGX Quest Diagnostics Inc. 1.62% 151,800 $29.7M No change
T AT&T Inc. 1.61% 1,015,610 $29.4M No change
SNY Sanofi-ADR 1.59% 604,000 $29.1M No change
GNRC Generac Holdings Inc. 1.55% 145,421 $28.4M Add +1.6%
VZ Verizon Communications Inc. 1.53% 559,500 $28.1M Add +1.8%
AAPL Apple Inc. 1.51% 109,136 $27.7M Reduce -0.4%
ETN Eaton Corp. PLC 1.51% 77,073 $27.6M No change
AEP American Electric Power 1.46% 203,538 $26.7M No change
MCD McDonald's Corp. 1.44% 84,785 $26.4M No change
VLO Valero Energy Corp. 1.41% 104,600 $25.8M No change
SHEL Shell PLC-ADR 1.41% 277,520 $25.8M Add +0.3%
DRI Darden Restaurants Inc. 1.31% 122,600 $24.0M No change
CLX Clorox Company 1.30% 230,000 $23.8M Add +12.4%
BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED 1.25% 315,009 $22.9M Reduce -33.7%
JPM JPMorgan Chase & Co. 1.25% 77,879 $22.9M No change
GD General Dynamics Corp. 1.25% 66,700 $22.9M No change
KEYS Keysight Technologies Inc. 1.25% 80,993 $22.9M Add +0.5%
DUK Duke Energy Corp. 1.15% 160,282 $21.0M No change
CVX Chevron Corp. 1.13% 99,995 $20.7M No change
ABT Abbott Laboratories 1.12% 199,349 $20.5M No change
MMM 3M Co. 1.08% 136,570 $19.8M Add +0.3%
LOW Lowe's Cos Inc. 1.08% 83,418 $19.7M No change
DE Deere & Co. 1.06% 34,300 $19.3M No change
EMR Emerson Electric Co. 1.00% 139,600 $18.3M No change
GWW WW Grainger Inc. 0.99% 16,696 $18.2M Add +1.1%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.99% 83,829 $18.2M Add +6.4%
AXP American Express Co. 0.95% 57,236 $17.3M Add +1.0%
LH Labcorp Holdings Inc. 0.94% 64,490 $17.2M Reduce -0.8%
ZTS Zoetis Inc. 0.90% 139,959 $16.5M Add +34.3%
FTNT Fortinet Inc. 0.88% 196,239 $16.0M Add +1.1%
WM Waste Management Inc. 0.86% 68,926 $15.8M Reduce -0.1%
RSP Invesco S&P 500 Equal Weight 0.85% 80,705 $15.5M Add +23.2%
HUBB Hubbell Inc. 0.74% 27,799 $13.6M Add +1.0%
LLY Eli Lilly & Co. 0.74% 14,777 $13.6M Reduce -29.4%
ADBE Adobe Inc. 0.72% 54,239 $13.2M Add +33.2%
MA Mastercard Inc. Class A 0.68% 24,985 $12.5M Add +1.1%
NVDA Nvidia Corp. 0.66% 68,943 $12.0M Reduce -36.7%
GOOGL Alphabet Inc. Class A 0.64% 40,677 $11.7M Reduce -22.3%
WAT Waters Corp. 0.54% 33,380 $9.9M Add +0.7%
FDS Factset Research Systems Inc. 0.51% 42,824 $9.3M Add +86.2%
META Meta Platforms Inc. Class A 0.50% 15,945 $9.1M Reduce -7.5%
AMAT Applied Materials Inc. 0.49% 26,449 $9.0M Reduce -57.3%
UPS United Parcel Service Class B 0.48% 88,973 $8.8M Reduce -57.7%
ROST Ross Stores Inc. 0.45% 38,264 $8.3M Reduce -47.2%
SHW The Sherwin-Williams Co. 0.42% 24,004 $7.7M Add +0.9%
STRL Sterling Infrastructure Inc. 0.36% 16,233 $6.6M Add +5.5%
SPGI S&P Global Inc. 0.32% 13,745 $5.8M New
INTU Intuit Inc. 0.30% 12,864 $5.6M New
MEDP Medpace Holdings Inc. 0.27% 10,114 $4.9M Add +5.5%
DCI Donaldson Co. Inc. 0.26% 55,447 $4.7M Add +5.4%
GIL Gildan Activewear Inc. 0.25% 82,739 $4.6M Add +6.1%
FTDR Frontdoor Inc. 0.23% 79,188 $4.2M Add +5.3%
LOGI Logitech International-Reg 0.22% 45,101 $4.1M Add +5.5%
LQDT Liquidity Services Inc. 0.22% 132,426 $4.0M Add +6.0%
NRC NRC Health filed as NATIONAL RESH CORP 0.21% 224,638 $3.8M Add +22.6%
MSM MSC Industrial Direct Co. Class A 0.20% 39,986 $3.7M Add +5.6%
AOS Smith (a.o.) Corp. 0.17% 47,930 $3.2M Add +5.3%
UI Ubiquiti Inc. 0.17% 3,928 $3.1M Add +7.7%
QLYS Qualys Inc. 0.17% 34,437 $3.0M Add +5.6%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.16% 18,528 $2.9M Add +5.2%
PAYC Paycom Software Inc. 0.16% 23,529 $2.9M Add +6.5%
EVTC Evertec Inc. 0.15% 95,000 $2.7M Add +5.0%
TTC Toro Co. 0.14% 27,455 $2.6M Add +6.0%
LAMR Lamar Advertising Co. Class A 0.14% 19,536 $2.5M Add +6.2%
VRSN Verisign Inc. 0.12% 8,995 $2.2M Add +5.9%
ZBRA Zebra Technologies Corp. Class A 0.12% 10,107 $2.1M Add +6.9%
AVY Avery Dennison Corp. 0.10% 10,512 $1.8M Add +6.7%
HXL Hexcel Corp. 0.09% 21,136 $1.7M Reduce -49.0%
JBTM JBT Marel Corp. 0.08% 11,767 $1.5M Add +9.0%
DLB Dolby Laboratories Inc. Class A 0.07% 20,604 $1.2M Add +6.5%
ALGN Align Technology Inc. 0.06% 6,462 $1.1M Add +7.3%
IJH iShares Core S&P Midcap ETF 0.06% 16,164 $1.1M No change
KO The Coca-Cola Co. 0.05% 12,708 $966K No change
TECH Bio-Techne Corp. 0.05% 17,302 $904K Add +6.7%
PAR Par Technology Corp. 0.05% 64,595 $861K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 2,567 $737K No change
VENU Venu Holding Corp. filed as VENU HLDG CORP 0.04% 218,633 $724K Add +108.2%
VOO Vanguard S&P 500 ETF 0.04% 1,173 $701K Add +47.2%
MXCT Maxcyte Inc. 0.03% 862,758 $606K No change

Show all 123 holdings

Portfolio Sells Q4 2025 → Q1 2026
WMT Walmart Inc. Sold out 0.00% −1.76
KMB Kimberly-Clark Corp. Sold out 0.00% −1.03
GPC Genuine Parts Co. Sold out 0.00% −0.88
TROW T Rowe Price Group Inc. Sold out 0.00% −0.82
UPS United Parcel Service Class B Reduce -57.7% 0.48% −0.60
RGA Reinsurance Group of America Sold out 0.00% −0.59
KVUE Kenvue Inc. Sold out 0.00% −0.58
INTC Intel Corp. Sold out 0.00% −0.58
TGT Target Corp. Sold out 0.00% −0.58
CAT Caterpillar Inc. Reduce -37.8% 1.92% −0.44
LLY Eli Lilly & Co. Reduce -29.4% 0.74% −0.42
NVDA Nvidia Corp. Reduce -36.7% 0.66% −0.39
AMAT Applied Materials Inc. Reduce -57.3% 0.49% −0.33
BHP BHP Group Ltd.-Spon ADR Reduce -33.7% 1.25% −0.23
ROST Ross Stores Inc. Reduce -47.2% 0.45% −0.22
CSGS CSG Systems Intl Inc. Sold out 0.00% −0.21
GOOGL Alphabet Inc. Class A Reduce -22.3% 0.64% −0.21
ATKR Atkore Inc. Sold out 0.00% −0.13
MDT Medtronic PLC Reduce -1.3% 1.85% −0.12
META Meta Platforms Inc. Class A Reduce -7.5% 0.50% −0.09
PZZA Papa John's Intl Inc. Sold out 0.00% −0.07
HXL Hexcel Corp. Reduce -49.0% 0.09% −0.06
JNJ Johnson & Johnson Reduce -20.8% 3.86% −0.04
AAPL Apple Inc. Reduce -0.4% 1.51% −0.03
COF Capital One Financial Corp. Sold out 0.00% −0.02
ABBV Abbvie Inc. Reduce -9.4% 0.01% −0.00
DTD Wisdomtree US Total Dividend Reduce -3.5% 0.02% +0.00
SMMT Summit Therapeutics Inc. Reduce -3.8% 0.01% +0.00
WM Waste Management Inc. Reduce -0.1% 0.86% +0.08
LH Labcorp Holdings Inc. Reduce -0.8% 0.94% +0.10
PG The Procter & Gamble Co. Reduce -0.1% 1.65% +0.10
LMT Lockheed Martin Corp. Reduce -3.2% 3.01% +0.66

Portfolio Buys Q4 2025 → Q1 2026
XOM Exxon Mobil Corp. Add +0.2% 2.13% +0.70
COP Conocophillips Add +0.3% 1.86% +0.61
GNRC Generac Holdings Inc. Add +1.6% 1.55% +0.54
ADP Automatic Data Processing Add +73.3% 1.65% +0.51
TXN Texas Instruments Inc. Add +0.3% 2.83% +0.44
PFE Pfizer Inc. Add +0.3% 2.63% +0.43
KEYS Keysight Technologies Inc. Add +0.5% 1.25% +0.40
VZ Verizon Communications Inc. Add +1.8% 1.53% +0.38
SHEL Shell PLC-ADR Add +0.3% 1.41% +0.36
HSY The Hershey Co. Add +0.2% 2.05% +0.36
SPGI S&P Global Inc. New 0.32% +0.32
PAYX Paychex Inc. Add +33.8% 2.20% +0.30
INTU Intuit Inc. New 0.30% +0.30
CB Chubb Ltd. Add +0.2% 2.74% +0.26
PEP Pepsico Inc. Add +0.2% 1.94% +0.25
CLX Clorox Company Add +12.4% 1.30% +0.24
ZTS Zoetis Inc. Add +34.3% 0.90% +0.23
CSCO Cisco Systems Inc. Add +0.1% 3.53% +0.22
RSP Invesco S&P 500 Equal Weight Add +23.2% 0.85% +0.20
FDS Factset Research Systems Inc. Add +86.2% 0.51% +0.16
GWW WW Grainger Inc. Add +1.1% 0.99% +0.13
VBR Vngrd Mrngst SL-CP Val ETF-U Add +6.4% 0.99% +0.13
STRL Sterling Infrastructure Inc. Add +5.5% 0.36% +0.12
HUBB Hubbell Inc. Add +1.0% 0.74% +0.11
AFL Aflac Inc. Add +0.4% 1.81% +0.09
FTNT Fortinet Inc. Add +1.1% 0.88% +0.08
UI Ubiquiti Inc. Add +7.7% 0.17% +0.07
MSM MSC Industrial Direct Co. Class A Add +5.6% 0.20% +0.04
TTC Toro Co. Add +6.0% 0.14% +0.03
NRC NRC Health Add +22.6% 0.21% +0.03
LQDT Liquidity Services Inc. Add +6.0% 0.22% +0.03
HD Home Depot Inc. Add +0.2% 1.93% +0.02
SHW The Sherwin-Williams Co. Add +0.9% 0.42% +0.02
DCI Donaldson Co. Inc. Add +5.4% 0.26% +0.02
VRSN Verisign Inc. Add +5.9% 0.12% +0.02
AOS Smith (a.o.) Corp. Add +5.3% 0.17% +0.02
TG Tredegar Corp. New 0.02% +0.02
LAMR Lamar Advertising Co. Class A Add +6.2% 0.14% +0.01
MU Micron Technology Inc. New 0.01% +0.01
VOO Vanguard S&P 500 ETF Add +47.2% 0.04% +0.01
MUR Murphy Oil Corp. New 0.01% +0.01
ALGN Align Technology Inc. Add +7.3% 0.06% +0.01
EVTC Evertec Inc. Add +5.0% 0.15% +0.01
QXO Qxo Inc. Add +24.9% 0.03% +0.01
AVY Avery Dennison Corp. Add +6.7% 0.10% +0.01
FTDR Frontdoor Inc. Add +5.3% 0.23% +0.00
DLB Dolby Laboratories Inc. Class A Add +6.5% 0.07% +0.00
LOGI Logitech International-Reg Add +5.5% 0.22% +0.00
TECH Bio-Techne Corp. Add +6.7% 0.05% +0.00
GIL Gildan Activewear Inc. Add +6.1% 0.25% −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