Wulff, Hansen & Co.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Wulff, Hansen & Co. reported 96 stock positions worth $105.7 million. Its top holding was Blackstone (BX) at 9.0% of the portfolio, followed by Vanguard Info Tech ETF (VGT, 5.3%) and Alphabet Class A (GOOGL, 4.7%). Compared with Q3 2024, it opened 3 new positions, sold out of 3, added to 23 and reduced 34. The biggest buy was Alphabet Class A (GOOGL, shares +9%) and the biggest sale Brookfield Infrastructure-A (BIPC, shares −0%).

Most Recent 13F
Q2 2026
Location
SAN RAFAEL, CA
CIK
0000108634
Portfolio Value
$105.7M (Q4 2024)
SEC Filing
0000108634-25-000003 ↗ filed Feb 11, 2025

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $100.2M Q1 2024 Q2 2024: $101.3M Q2 2024 Q3 2024: $110.4M Q3 2024 Q4 2024: $105.7M $105.7M Q4 2024 Q1 2025: $109.7M Q1 2025 Q2 2025: $116.8M Q2 2025 Q3 2025: $116.2M Q3 2025 Q4 2025: $119.2M Q4 2025 Q1 2026: $97.9M Q1 2026 Q2 2026: $130.5M Q2 2026

Holdings 96 stocks · $105.7M
BX Blackstone Inc. 8.95% 54,878 $9.5M Reduce -1.7%
VGT Vanguard Info Tech ETF 5.32% 9,042 $5.6M Reduce -1.5%
GOOGL Alphabet Inc. Class A 4.68% 26,110 $4.9M Add +9.1%
MSFT Microsoft Corp. 4.62% 11,589 $4.9M Add +6.6%
AMAZON COM INC 4.33% 20,850 $4.6M Add +2.5%
PG The Procter & Gamble Co. 3.32% 20,919 $3.5M Reduce -0.7%
JPM JPMorgan Chase & Co. 2.91% 12,841 $3.1M Reduce -0.1%
AAPL Apple Inc. 2.53% 10,687 $2.7M Reduce -1.4%
RTX RTX Corp. 2.40% 21,888 $2.5M Add +0.3%
V Visa Inc. Class A 2.02% 6,770 $2.1M Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.98% 47,598 $2.1M Reduce -1.6%
BRK.B Berkshire Hathaway Inc. Class B 1.97% 4,597 $2.1M Reduce -2.1%
CSX CSX Corp. 1.84% 60,285 $1.9M No change
BN Brookfield Corp. 1.83% 33,631 $1.9M No change
GE General Electric filed as GE AEROSPACE 1.78% 11,265 $1.9M Add +12.3%
BIP Brookfield Infrastructure Pa 1.73% 57,642 $1.8M Reduce -0.7%
MRK Merck & Co. Inc. 1.73% 18,400 $1.8M Reduce -0.7%
XLY SS Consumer Disc Select Sect 1.58% 7,460 $1.7M No change
HD Home Depot Inc. 1.50% 4,068 $1.6M No change
SCHD Schwab US DVD Equity ETF 1.38% 53,215 $1.5M Add +1.7%
JNJ Johnson & Johnson 1.37% 10,030 $1.5M Reduce -2.4%
MDLZ Mondelez International Inc. Class A 1.35% 23,905 $1.4M Reduce -1.5%
GPC Genuine Parts Co. 1.23% 11,175 $1.3M Reduce -1.1%
VCSH Vanguard S/T Corp. Bond ETF 1.22% 16,485 $1.3M Reduce -3.9%
PM Philip Morris International 1.17% 10,260 $1.2M Add +0.8%
WMT Walmart Inc. 1.16% 13,531 $1.2M Add +2.3%
AWK American Water Works Co. Inc. 1.15% 9,780 $1.2M Reduce -0.7%
LMT Lockheed Martin Corp. 1.04% 2,261 $1.1M No change
CVX Chevron Corp. 0.99% 7,216 $1.0M Add +0.1%
IGSB iShares 1-5Y Inv Grade Corp. 0.99% 20,210 $1.0M Reduce -6.2%
FLMI Franklin Dynamic Municipal B 0.95% 41,187 $1.0M No change
FCX Freeport-McMoran Inc. 0.90% 25,099 $956K No change
SPSM SS SPDR P S&P 600 Small Cap 0.90% 21,075 $947K Add +17.0%
CWT California Water Service Grp 0.89% 20,640 $936K Reduce -0.3%
GIS General Mills Inc. 0.84% 13,865 $884K No change
DLR Digital Realty Trust Inc. 0.83% 4,961 $880K No change
WLDN Willdan Group Inc. 0.82% 22,821 $869K Add +1.6%
XOM Exxon Mobil Corp. 0.82% 8,025 $863K No change
BA The Boeing Co. 0.80% 4,760 $843K Reduce -0.9%
NVDA Nvidia Corp. 0.79% 6,255 $840K No change
DUK Duke Energy Corp. 0.78% 7,675 $827K No change
MSI Motorola Solutions Inc. 0.77% 1,753 $810K Reduce -25.5%
WM Waste Management Inc. 0.75% 3,908 $789K No change
GEV GE Vernova Inc. 0.66% 2,112 $695K Add +17.3%
CPB The Campbell's Company 0.64% 16,210 $679K No change
HVT Haverty Furniture 0.62% 29,422 $655K Add +22.2%
KMB Kimberly-Clark Corp. 0.58% 4,642 $608K No change
LLY Eli Lilly & Co. 0.57% 785 $606K No change
SO The Southern Co. 0.57% 7,348 $605K Reduce -0.2%
MA Mastercard Inc. Class A 0.54% 1,075 $566K Add +9.7%
INTC Intel Corp. 0.53% 27,711 $556K Reduce -4.5%
CP Canadian Pacific Kansas City 0.50% 7,349 $532K Reduce -40.6%
CLX Clorox Company 0.50% 3,225 $524K No change
ETN Eaton Corp. PLC 0.48% 1,525 $506K No change
ABBV Abbvie Inc. 0.46% 2,745 $488K Reduce -0.9%
XLE SS Energy Select Sector 0.46% 5,650 $484K No change
ESS Essex Property Trust Inc. 0.42% 1,564 $446K No change
AVGO Broadcom Inc. 0.41% 1,855 $430K Reduce -6.8%
PFF iShares Preferred & Income S 0.40% 13,605 $428K Reduce -1.2%
VZ Verizon Communications Inc. 0.40% 10,671 $427K No change
TSLA Tesla Inc. 0.39% 1,030 $416K No change
HON Honeywell International Inc. 0.39% 1,810 $409K No change
VB Vanguard Most SM-Cap ETF-Usd 0.38% 1,690 $406K Add +3.0%
XLI SS Industrial Select Sector 0.38% 3,010 $397K Reduce -3.1%
HCC Warrior Met Coal Inc. 0.36% 6,963 $378K Add +0.8%
BN Brookfield Asset Mgmt Inc. 0.35% 6,855 $371K No change
IBKR Interactive Brokers Gro Class A 0.35% 2,100 $371K Add +40.5%
BIPC Brookfield Infrastructure-A 0.34% 9,101 $364K Reduce -0.4%
NKE Nike Inc. Class B 0.34% 4,750 $359K Reduce -2.9%
RDS.B Shell PLC-Spon ADR-B filed as DUTCH SHELL PLC 0.33% 5,538 $347K Add +3.5%
CRM Salesforce Inc. 0.33% 1,035 $346K Add +3.5%
SCHX Schwab US Large-Cap ETF 0.32% 11,960 $333K Add +65.8%
FMS Fresenius Medical Care-ADR 0.31% 14,647 $332K Reduce -10.2%
XAR SS SPDR S&P Aerospace Def 0.31% 2,273 $330K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.30% 2,865 $319K No change
AEP American Electric Power 0.30% 3,390 $313K Reduce -1.0%
IYF iShares US Financials ETF 0.29% 2,775 $307K No change
CMCSA Comcast Corp. Class A 0.29% 8,164 $306K No change
VANGUARD WORLD FDS 0.29% 1,190 $303K No change
CL Colgate-Palmolive Co. 0.28% 3,310 $301K No change
HPQ HP Inc. 0.28% 9,081 $296K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.28% 1,327 $292K No change
NVS Novartis AG-Sponsored ADR 0.27% 2,945 $287K Reduce -3.3%
MCO Moody's Corp. 0.27% 605 $286K Reduce -9.0%
MP MP Materials Corp. 0.26% 17,806 $278K No change
HPE Hewlett Packard Enterprise 0.26% 12,666 $270K No change
META Meta Platforms Inc. Class A 0.25% 453 $265K Reduce -8.1%
PFE Pfizer Inc. 0.23% 9,314 $247K Reduce -8.8%
CMG Chipotle Mexican Grill Inc. 0.23% 4,000 $241K New
T AT&T Inc. 0.22% 10,057 $229K Add +2.6%
XLF SS Financial Select Sector 0.21% 4,515 $218K No change
GBTG Global Business Travel Group 0.20% 23,126 $215K Add +7.7%
MMM 3M Co. 0.20% 1,635 $211K No change
COST Costco Wholesale Corp. 0.20% 2,280 $209K Add +3.6%
AXP American Express Co. 0.19% 686 $204K New
BMRC Bank of Marin Bancorp filed as BANK MARIN BANCORP 0.19% 8,428 $200K New

Portfolio Sells Q3 2024 → Q4 2024
BIPC Brookfield Infrastructure-A Reduce -0.4% 0.34% −3.25
PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.46
CP Canadian Pacific Kansas City Reduce -40.6% 0.50% −0.45
BSCO Invesco Bulletshares 2024 CB Sold out 0.00% −0.34
MDLZ Mondelez International Inc. Class A Reduce -1.5% 1.35% −0.27
GPC Genuine Parts Co. Reduce -1.1% 1.23% −0.20
MRK Merck & Co. Inc. Reduce -0.7% 1.73% −0.17
AWK American Water Works Co. Inc. Reduce -0.7% 1.15% −0.15
RWT Redwood Trust Inc. Sold out 0.00% −0.14
JNJ Johnson & Johnson Reduce -2.4% 1.37% −0.14
CWT California Water Service Grp Reduce -0.3% 0.89% −0.13
BIP Brookfield Infrastructure Pa Reduce -0.7% 1.73% −0.11
INTC Intel Corp. Reduce -4.5% 0.53% −0.09
NKE Nike Inc. Class B Reduce -2.9% 0.34% −0.05
NVS Novartis AG-Sponsored ADR Reduce -3.3% 0.27% −0.05
IGSB iShares 1-5Y Inv Grade Corp. Reduce -6.2% 0.99% −0.04
ABBV Abbvie Inc. Reduce -0.9% 0.46% −0.03
PFE Pfizer Inc. Reduce -8.8% 0.23% −0.03
SO The Southern Co. Reduce -0.2% 0.57% −0.03
AEP American Electric Power Reduce -1.0% 0.30% −0.02
VCSH Vanguard S/T Corp. Bond ETF Reduce -3.9% 1.22% −0.02
MCO Moody's Corp. Reduce -9.0% 0.27% −0.01
PFF iShares Preferred & Income S Reduce -1.2% 0.40% −0.01
XLI SS Industrial Select Sector Reduce -3.1% 0.38% −0.01
META Meta Platforms Inc. Class A Reduce -8.1% 0.25% −0.00
FMS Fresenius Medical Care-ADR Reduce -10.2% 0.31% −0.00
PG The Procter & Gamble Co. Reduce -0.7% 3.32% +0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.1% 1.97% +0.01
MSI Motorola Solutions Inc. Reduce -25.5% 0.77% +0.08
AVGO Broadcom Inc. Reduce -6.8% 0.41% +0.10
BA The Boeing Co. Reduce -0.9% 0.80% +0.14
BAC Bank of America Corp. Reduce -1.6% 1.98% +0.24
AAPL Apple Inc. Reduce -1.4% 2.53% +0.24
V Visa Inc. Class A Reduce -0.4% 2.02% +0.33
VGT Vanguard Info Tech ETF Reduce -1.5% 5.32% +0.44
JPM JPMorgan Chase & Co. Reduce -0.1% 2.91% +0.46
BX Blackstone Inc. Reduce -1.7% 8.95% +1.20

Portfolio Buys Q3 2024 → Q4 2024
GOOGL Alphabet Inc. Class A Add +9.1% 4.68% +1.08
AMAZON COM INC Add +2.5% 4.33% +0.89
MSFT Microsoft Corp. Add +6.6% 4.62% +0.38
GEV GE Vernova Inc. Add +17.3% 0.66% +0.24
CMG Chipotle Mexican Grill Inc. New 0.23% +0.23
AXP American Express Co. New 0.19% +0.19
BMRC Bank of Marin Bancorp New 0.19% +0.19
WMT Walmart Inc. Add +2.3% 1.16% +0.19
IBKR Interactive Brokers Gro Class A Add +40.5% 0.35% +0.16
SPSM SS SPDR P S&P 600 Small Cap Add +17.0% 0.90% +0.15
MA Mastercard Inc. Class A Add +9.7% 0.54% +0.10
SCHX Schwab US Large-Cap ETF Add +65.8% 0.32% +0.09
CRM Salesforce Inc. Add +3.5% 0.33% +0.08
GE General Electric Add +12.3% 1.78% +0.06
GBTG Global Business Travel Group Add +7.7% 0.20% +0.05
PM Philip Morris International Add +0.8% 1.17% +0.05
SCHD Schwab US DVD Equity ETF Add +1.7% 1.38% +0.04
VB Vanguard Most SM-Cap ETF-Usd Add +3.0% 0.38% +0.03
CVX Chevron Corp. Add +0.1% 0.99% +0.03
T AT&T Inc. Add +2.6% 0.22% +0.02
HVT Haverty Furniture Add +22.2% 0.62% +0.02
RDS.B Shell PLC-Spon ADR-B Add +3.5% 0.33% +0.01
RTX RTX Corp. Add +0.3% 2.40% +0.00
WLDN Willdan Group Inc. Add +1.6% 0.82% −0.01
HCC Warrior Met Coal Inc. Add +0.8% 0.36% −0.04
COST Costco Wholesale Corp. Add +3.6% 0.20% −1.57

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 109$130.5MVGT, GOOGL, BX, AMZN, AAPL
Q1 2026 98$97.9MAMZN, RTX, AAPL, JPM, MSFT
Q4 2025 102$119.2MBX, VGT, GOOGL, AMZN, MSFT
Q3 2025 101$116.2MBX, VGT, MSFT, GOOGL, JPM
Q2 2025 100$116.8MBX, VGT, AMAZON COM INC, MSFT, COST
Q1 2025 98$109.7MBX, VGT, AMAZON COM INC, GOOGL, MSFT
Q4 2024 96$105.7MBX, VGT, GOOGL, MSFT, AMAZON COM INC
Q3 2024 96$110.4MBX, VGT, MSFT, GOOGL, BIPC
Q2 2024Amended 91$101.3MBX, VGT, MSFT, GOOGL, AMAZON COM INC
Q1 2024 89$100.2MBX, VGT, MSFT, PG, GOOGL