Wulff, Hansen & Co.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Wulff, Hansen & Co. reported 100 stock positions worth $116.8 million. Its top holding was Blackstone (BX) at 6.9% of the portfolio, followed by Vanguard Info Tech ETF (VGT, 5.0%) and Amazon Com (4.3%). Compared with Q1 2025, it opened 11 new positions, sold out of 9, added to 16 and reduced 40. The biggest buy was a new position in Vanguard S&P 500 ETF (VOO) and the biggest sale Alphabet Class A (GOOGL, shares −26%).

Most Recent 13F
Q2 2026
Location
SAN RAFAEL, CA
CIK
0000108634
Portfolio Value
$116.8M (Q2 2025)
SEC Filing
0000108634-25-000009 ↗ filed Aug 12, 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 Q4 2024 Q1 2025: $109.7M Q1 2025 Q2 2025: $116.8M $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 100 stocks · $116.8M
BX Blackstone Inc. 6.86% 53,553 $8.0M Reduce -1.4%
VGT Vanguard Info Tech ETF 5.03% 8,860 $5.9M Reduce -1.3%
AMAZON COM INC 4.27% 22,730 $5.0M Add +4.6%
MSFT Microsoft Corp. 4.21% 9,891 $4.9M Reduce -2.4%
COST Costco Wholesale Corp. 3.04% 3,592 $3.6M Add +1.8%
JPM JPMorgan Chase & Co. 3.03% 12,231 $3.5M Reduce -2.8%
GOOGL Alphabet Inc. Class A 2.91% 19,300 $3.4M Reduce -25.8%
PG The Procter & Gamble Co. 2.80% 20,514 $3.3M Reduce -1.0%
AAPL Apple Inc. 2.72% 15,499 $3.2M Reduce -3.1%
RTX RTX Corp. 2.67% 21,398 $3.1M Reduce -1.1%
GE General Electric filed as GE AEROSPACE 2.19% 9,950 $2.6M Reduce -12.8%
V Visa Inc. Class A 2.08% 6,840 $2.4M Reduce -9.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.83% 45,253 $2.1M Reduce -2.4%
BN Brookfield Corp. 1.74% 32,796 $2.0M Reduce -2.5%
PM Philip Morris International 1.71% 10,980 $2.0M Reduce -1.0%
BRK.B Berkshire Hathaway Inc. Class B 1.71% 4,112 $2.0M Reduce -2.0%
CSX CSX Corp. 1.65% 59,175 $1.9M Reduce -1.8%
BIP Brookfield Infrastructure Pa 1.41% 49,327 $1.7M Reduce -11.7%
MDLZ Mondelez International Inc. Class A 1.38% 23,917 $1.6M Reduce -0.9%
NVDA Nvidia Corp. 1.33% 9,845 $1.6M Reduce -3.2%
XLY SS Consumer Disc Select Sect 1.32% 7,090 $1.5M Reduce -2.7%
HD Home Depot Inc. 1.28% 4,079 $1.5M No change
JNJ Johnson & Johnson 1.25% 9,525 $1.5M Reduce -3.4%
MRK Merck & Co. Inc. 1.23% 18,170 $1.4M Reduce -1.3%
BA The Boeing Co. 1.19% 6,646 $1.4M Add +18.1%
SCHD Schwab US DVD Equity ETF 1.18% 52,000 $1.4M Reduce -3.7%
WLDN Willdan Group Inc. 1.15% 21,583 $1.3M Reduce -9.1%
AWK American Water Works Co. Inc. 1.13% 9,515 $1.3M Reduce -2.7%
GPC Genuine Parts Co. 1.09% 10,540 $1.3M Reduce -3.7%
VCSH Vanguard S/T Corp. Bond ETF 1.03% 15,200 $1.2M Reduce -3.6%
CVX Chevron Corp. 1.01% 8,235 $1.2M Add +0.2%
FCX Freeport-McMoran Inc. 0.96% 25,799 $1.1M Add +2.8%
VOO Vanguard S&P 500 ETF 0.96% 1,966 $1.1M New
CRM Salesforce Inc. 0.95% 4,070 $1.1M Add +55.6%
GEV GE Vernova Inc. 0.94% 2,077 $1.1M Reduce -3.4%
LMT Lockheed Martin Corp. 0.93% 2,337 $1.1M Add +3.4%
WMT Walmart Inc. 0.90% 10,734 $1.0M Reduce -24.3%
XOM Exxon Mobil Corp. 0.89% 9,627 $1.0M No change
FLMI Franklin Dynamic Municipal B 0.86% 41,187 $999K No change
CWT California Water Service Grp 0.84% 21,655 $985K Reduce -1.0%
DUK Duke Energy Corp. 0.79% 7,840 $925K No change
SPSM SS SPDR P S&P 600 Small Cap 0.78% 21,435 $913K Add +1.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.78% 17,190 $907K Reduce -10.6%
WM Waste Management Inc. 0.75% 3,808 $871K No change
AVGO Broadcom Inc. 0.74% 3,140 $866K Add +49.2%
DLR Digital Realty Trust Inc. 0.74% 4,961 $865K No change
CAT Caterpillar Inc. 0.71% 2,145 $833K No change
QQQ Invesco QQQ Trust Series 1 0.70% 1,485 $819K Reduce -0.7%
SO The Southern Co. 0.69% 8,798 $808K No change
GIS General Mills Inc. 0.58% 13,140 $681K Reduce -2.6%
MSI Motorola Solutions Inc. 0.56% 1,567 $659K Reduce -14.8%
MA Mastercard Inc. Class A 0.55% 1,140 $641K Add +2.7%
HVT Haverty Furniture 0.53% 30,522 $621K Add +3.7%
LLY Eli Lilly & Co. 0.52% 785 $612K No change
MP MP Materials Corp. 0.52% 18,279 $608K Add +3.4%
KMB Kimberly-Clark Corp. 0.51% 4,642 $598K No change
CP Canadian Pacific Kansas City 0.50% 7,409 $587K Add +0.8%
INTC Intel Corp. 0.49% 25,701 $576K Reduce -7.3%
ABBV Abbvie Inc. 0.44% 2,745 $510K No change
LIN Linde PLC 0.43% 1,071 $502K Reduce -10.2%
ESS Essex Property Trust Inc. 0.42% 1,717 $487K No change
XLE SS Energy Select Sector 0.41% 5,650 $479K No change
CPB The Campbell's Company 0.41% 15,580 $478K No change
VZ Verizon Communications Inc. 0.40% 10,671 $462K No change
ETN Eaton Corp. PLC 0.38% 1,255 $448K No change
XLI SS Industrial Select Sector 0.38% 3,010 $444K No change
DE Deere & Co. 0.38% 870 $442K No change
ITA iShares U.S. Aerospace & Def 0.38% 2,337 $441K New
DHR Danaher Corp. 0.36% 2,156 $426K Reduce -5.9%
HON Honeywell International Inc. 0.36% 1,810 $422K No change
BAM Brookfield Asset Mgmt-A 0.36% 7,590 $420K New
VB Vanguard Most SM-Cap ETF-Usd 0.35% 1,740 $412K Add +3.0%
AEP American Electric Power 0.34% 3,840 $398K No change
SHEL Shell PLC-ADR 0.34% 5,611 $395K New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.33% 1,327 $391K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.33% 3,099 $384K No change
CLX Clorox Company 0.33% 3,185 $382K Reduce -1.2%
SCHG Schwab US Large-Cap Growth 0.33% 13,040 $381K New
PFF iShares Preferred & Income S 0.32% 12,205 $374K Reduce -8.1%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.32% 355 $369K No change
NVS Novartis AG-Sponsored ADR 0.30% 2,925 $354K Reduce -0.2%
IYF iShares US Financials ETF 0.29% 2,775 $336K No change
META Meta Platforms Inc. Class A 0.29% 453 $334K No change
VIS Vanguard Industrials ETF 0.29% 1,190 $333K New
TSLA Tesla Inc. 0.28% 1,030 $327K No change
HCC Warrior Met Coal Inc. 0.27% 6,963 $319K No change
MCO Moody's Corp. 0.27% 625 $313K Add +3.3%
NKE Nike Inc. Class B 0.26% 4,315 $307K Reduce -5.4%
CL Colgate-Palmolive Co. 0.26% 3,310 $301K No change
PFE Pfizer Inc. 0.25% 12,280 $298K Add +21.4%
CMCSA Comcast Corp. Class A 0.25% 8,164 $291K No change
AMAT Applied Materials Inc. 0.23% 1,500 $275K New
HII Huntington Ingalls Industrie 0.23% 1,095 $264K New
XLF SS Financial Select Sector 0.22% 4,855 $254K No change
MMM 3M Co. 0.21% 1,635 $249K No change
ARM Arm Holdings PLC-ADR 0.20% 1,435 $232K New
TRI Thomson Reuters Corp. 0.20% 1,144 $230K New
HPQ HP Inc. 0.19% 9,081 $222K No change
SGOV iShares 0-3 Month Treasury B 0.17% 2,000 $201K New
GBTG Global Business Travel Group 0.12% 23,126 $146K No change

Portfolio Sells Q1 2025 → Q2 2025
GOOGL Alphabet Inc. Class A Reduce -25.8% 2.91% −0.75
AAPL Apple Inc. Reduce -3.1% 2.72% −0.52
PG The Procter & Gamble Co. Reduce -1.0% 2.80% −0.42
RDS.B Shell PLC-Spon ADR-B Sold out 0.00% −0.37
V Visa Inc. Class A Reduce -9.8% 2.08% −0.34
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.0% 1.71% −0.33
XAR SS SPDR S&P Aerospace Def Sold out 0.00% −0.32
FMS Fresenius Medical Care-ADR Sold out 0.00% −0.32
BN Brookfield Asset Mgmt Inc. Sold out 0.00% −0.30
BIPC Brookfield Infrastructure-A Sold out 0.00% −0.30
SCHX Schwab US Large-Cap ETF Sold out 0.00% −0.28
MRK Merck & Co. Inc. Reduce -1.3% 1.23% −0.27
VANGUARD WORLD FDS Sold out 0.00% −0.27
JNJ Johnson & Johnson Reduce -3.4% 1.25% −0.25
WMT Walmart Inc. Reduce -24.3% 0.90% −0.24
DOW Dow Inc. Sold out 0.00% −0.24
SCHD Schwab US DVD Equity ETF Reduce -3.7% 1.18% −0.20
AWK American Water Works Co. Inc. Reduce -2.7% 1.13% −0.18
HPE Hewlett Packard Enterprise Sold out 0.00% −0.18
MSI Motorola Solutions Inc. Reduce -14.8% 0.56% −0.17
GIS General Mills Inc. Reduce -2.6% 0.58% −0.15
IGSB iShares 1-5Y Inv Grade Corp. Reduce -10.6% 0.78% −0.14
CWT California Water Service Grp Reduce -1.0% 0.84% −0.12
MDLZ Mondelez International Inc. Class A Reduce -0.9% 1.38% −0.11
CLX Clorox Company Reduce -1.2% 0.33% −0.11
BIP Brookfield Infrastructure Pa Reduce -11.7% 1.41% −0.10
VCSH Vanguard S/T Corp. Bond ETF Reduce -3.6% 1.03% −0.10
GPC Genuine Parts Co. Reduce -3.7% 1.09% −0.09
INTC Intel Corp. Reduce -7.3% 0.49% −0.08
LIN Linde PLC Reduce -10.2% 0.43% −0.08
BX Blackstone Inc. Reduce -1.4% 6.86% −0.07
DHR Danaher Corp. Reduce -5.9% 0.36% −0.06
PFF iShares Preferred & Income S Reduce -8.1% 0.32% −0.05
NKE Nike Inc. Class B Reduce -5.4% 0.26% −0.00
NVS Novartis AG-Sponsored ADR Reduce -0.2% 0.30% +0.01
XLY SS Consumer Disc Select Sect Reduce -2.7% 1.32% +0.01
CSX CSX Corp. Reduce -1.8% 1.65% +0.03
RTX RTX Corp. Reduce -1.1% 2.67% +0.06
QQQ Invesco QQQ Trust Series 1 Reduce -0.7% 0.70% +0.06
BAC Bank of America Corp. Reduce -2.4% 1.83% +0.07
PM Philip Morris International Reduce -1.0% 1.71% +0.11
GE General Electric Reduce -12.8% 2.19% +0.11
BN Brookfield Corp. Reduce -2.5% 1.74% +0.13
JPM JPMorgan Chase & Co. Reduce -2.8% 3.03% +0.22
WLDN Willdan Group Inc. Reduce -9.1% 1.15% +0.27
NVDA Nvidia Corp. Reduce -3.2% 1.33% +0.33
GEV GE Vernova Inc. Reduce -3.4% 0.94% +0.34
VGT Vanguard Info Tech ETF Reduce -1.3% 5.03% +0.59
MSFT Microsoft Corp. Reduce -2.4% 4.21% +0.74

Portfolio Buys Q1 2025 → Q2 2025
VOO Vanguard S&P 500 ETF New 0.96% +0.96
AMAZON COM INC Add +4.6% 4.27% +0.50
AVGO Broadcom Inc. Add +49.2% 0.74% +0.42
ITA iShares U.S. Aerospace & Def New 0.38% +0.38
BAM Brookfield Asset Mgmt-A New 0.36% +0.36
SHEL Shell PLC-ADR New 0.34% +0.34
SCHG Schwab US Large-Cap Growth New 0.33% +0.33
BA The Boeing Co. Add +18.1% 1.19% +0.32
CRM Salesforce Inc. Add +55.6% 0.95% +0.31
VIS Vanguard Industrials ETF New 0.29% +0.29
AMAT Applied Materials Inc. New 0.23% +0.23
HII Huntington Ingalls Industrie New 0.23% +0.23
ARM Arm Holdings PLC-ADR New 0.20% +0.20
TRI Thomson Reuters Corp. New 0.20% +0.20
SGOV iShares 0-3 Month Treasury B New 0.17% +0.17
MP MP Materials Corp. Add +3.4% 0.52% +0.13
FCX Freeport-McMoran Inc. Add +2.8% 0.96% +0.09
CP Canadian Pacific Kansas City Add +0.8% 0.50% +0.03
PFE Pfizer Inc. Add +21.4% 0.25% +0.02
MCO Moody's Corp. Add +3.3% 0.27% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +3.0% 0.35% +0.01
LMT Lockheed Martin Corp. Add +3.4% 0.93% +0.01
HVT Haverty Furniture Add +3.7% 0.53% +0.00
COST Costco Wholesale Corp. Add +1.8% 3.04% +0.00
SPSM SS SPDR P S&P 600 Small Cap Add +1.7% 0.78% −0.00
MA Mastercard Inc. Class A Add +2.7% 0.55% −0.01
CVX Chevron Corp. Add +0.2% 1.01% −0.24

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