Zacks Investment Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Zacks Investment Management reported 738 stock positions worth $12.6 billion. Its top holding was Nvidia (NVDA) at 4.3% of the portfolio, followed by Microsoft (MSFT, 4.2%) and Apple (AAPL, 3.2%). Compared with Q2 2025, it opened 166 new positions, sold out of 119, added to 325 and reduced 218. The biggest buy was Meta Platforms Class A (META, shares +40%) and the biggest sale Johnson Controls Internation (JCI, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- Chicago, IL
- CIK
- 0001086483
- Portfolio Value
- $12.6B (Q3 2025)
- SEC Filing
- 0001172661-25-005127 ↗ filed Nov 14, 2025
Holdings Value
Holdings 738 stocks · $12.6B
| NVDA Nvidia Corp. | 4.31% | 2,897,567 | $540.6M | Add +2.5% |
| MSFT Microsoft Corp. | 4.24% | 1,026,852 | $531.9M | Add +0.6% |
| AAPL Apple Inc. | 3.24% | 1,596,292 | $406.5M | Add +5.5% |
| JPM JPMorgan Chase & Co. | 3.08% | 1,227,047 | $387.0M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 3.01% | 1,553,250 | $377.6M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 2.77% | 472,926 | $347.3M | Add +39.9% |
| AMZN Amazon.com Inc. | 1.90% | 1,086,827 | $238.6M | Reduce -0.3% |
| AVGO Broadcom Inc. | 1.85% | 705,049 | $232.6M | Reduce -0.3% |
| WMT Walmart Inc. | 1.69% | 2,055,849 | $211.9M | Add +1.4% |
| HD Home Depot Inc. | 1.66% | 515,079 | $208.7M | Add +1.4% |
| CAT Caterpillar Inc. | 1.60% | 422,182 | $201.4M | Reduce -0.5% |
| PG The Procter & Gamble Co. | 1.50% | 1,224,030 | $188.1M | Add +1.1% |
| ABBV Abbvie Inc. | 1.45% | 787,774 | $182.4M | Reduce -3.9% |
| JNJ Johnson & Johnson | 1.31% | 887,164 | $164.5M | Add +1.0% |
| XOM Exxon Mobil Corp. | 1.30% | 1,450,134 | $163.5M | Reduce -0.3% |
| BLK BlackRock Inc. | 1.30% | 140,200 | $163.5M | Reduce -2.9% |
| CSCO Cisco Systems Inc. | 1.28% | 2,343,396 | $160.3M | Reduce -0.3% |
| PH Parker Hannifin Corp. | 1.26% | 209,034 | $158.5M | Add +0.2% |
| MET Metlife Inc. | 1.12% | 1,711,386 | $141.0M | Add +1.2% |
| PM Philip Morris International | 1.06% | 818,425 | $132.7M | Add +0.3% |
| NFLX Netflix Inc. | 1.02% | 106,731 | $128.0M | Reduce -2.0% |
| TSLA Tesla Inc. | 1.02% | 287,570 | $127.9M | Add +4.7% |
| COP Conocophillips | 0.95% | 1,256,601 | $118.9M | Reduce -1.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.92% | 2,241,869 | $115.7M | Add +0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.83% | 369,883 | $104.4M | Add +0.3% |
| MCD McDonald's Corp. | 0.81% | 335,375 | $101.9M | Add +1.6% |
| GD General Dynamics Corp. | 0.80% | 294,411 | $100.4M | Add +0.7% |
| SO The Southern Co. | 0.80% | 1,058,122 | $100.3M | Reduce -19.4% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.75% | 868,546 | $94.6M | Reduce -0.5% |
| EME Emcor Group Inc. | 0.74% | 142,574 | $92.6M | Add +0.0% |
| VZ Verizon Communications Inc. | 0.73% | 2,096,985 | $92.2M | Add +0.8% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.73% | 296,878 | $92.0M | Reduce -0.7% |
| PRU Prudential Financial Inc. | 0.71% | 864,706 | $89.7M | Add +0.6% |
| PEP Pepsico Inc. | 0.71% | 631,628 | $88.7M | Add +2.5% |
| WFC Wells Fargo & Co. | 0.70% | 1,054,462 | $88.4M | Add +0.7% |
| AEP American Electric Power | 0.70% | 778,866 | $87.6M | Add +0.4% |
| FERG Ferguson Enterprises Inc. | 0.70% | 389,546 | $87.5M | Add +314.8% |
| LLY Eli Lilly & Co. | 0.69% | 113,698 | $86.8M | Add +3.9% |
| MRK Merck & Co. Inc. | 0.69% | 1,028,720 | $86.3M | Add +1.5% |
| KMI Kinder Morgan Inc. | 0.67% | 2,978,283 | $84.3M | Add +0.4% |
| KO The Coca-Cola Co. | 0.66% | 1,257,493 | $83.4M | Reduce -0.3% |
| PNC PNC Financial Services Group | 0.65% | 407,789 | $81.9M | Add +2.0% |
| QCOM Qualcomm Inc. | 0.65% | 488,207 | $81.2M | Reduce -21.2% |
| AGG iShares Core U.S. Aggregate | 0.61% | 761,200 | $76.3M | Reduce -0.1% |
| ORCL Oracle Corp. | 0.60% | 266,411 | $74.9M | Add +4.8% |
| UNH Unitedhealth Group Inc. | 0.58% | 211,123 | $72.9M | Add +69.9% |
| T AT&T Inc. | 0.58% | 2,569,892 | $72.6M | Reduce -12.3% |
| FITB Fifth Third Bancorp | 0.57% | 1,619,164 | $72.1M | Add +0.2% |
| USB US Bancorp | 0.57% | 1,474,103 | $71.2M | Add +0.5% |
| PFE Pfizer Inc. | 0.55% | 2,699,064 | $68.8M | Add +1.6% |
| AXP American Express Co. | 0.53% | 200,309 | $66.5M | Add +0.9% |
| CMI Cummins Inc. | 0.52% | 153,309 | $64.8M | Add +0.9% |
| APH Amphenol Corp. Class A | 0.51% | 518,951 | $64.2M | Add +21.6% |
| ABT Abbott Laboratories | 0.51% | 477,169 | $63.9M | Reduce -13.7% |
| CSX CSX Corp. | 0.50% | 1,755,664 | $62.3M | Add +0.1% |
| NSC Norfolk Southern Corp. | 0.49% | 206,088 | $61.9M | Add +0.9% |
| MO Altria Group Inc. | 0.48% | 916,503 | $60.5M | Add +0.5% |
| PLD Prologis Inc. | 0.48% | 523,706 | $60.0M | Add +2.2% |
| PEG Public Service Enterprise GP | 0.46% | 698,414 | $58.3M | Reduce -0.1% |
| DE Deere & Co. | 0.44% | 121,748 | $55.7M | Add +0.7% |
| HIG Hartford Insurance Group Inc. | 0.44% | 416,438 | $55.5M | Add +1.9% |
| ACN Accenture PLC Class A | 0.44% | 223,974 | $55.2M | Add +0.4% |
| LMT Lockheed Martin Corp. | 0.44% | 110,258 | $55.0M | Add +0.1% |
| MDT Medtronic PLC | 0.43% | 566,111 | $53.9M | Add +0.2% |
| PLTR Palantir Technologies Inc. Class A | 0.43% | 294,930 | $53.8M | Reduce -20.3% |
| CTAS Cintas Corp. | 0.42% | 257,991 | $53.0M | Add +0.5% |
| C Citigroup Inc. | 0.42% | 514,711 | $52.2M | Reduce -0.1% |
| ANET Arista Networks Inc. | 0.41% | 349,204 | $50.9M | Reduce -2.6% |
| BDX Becton Dickinson and Co. | 0.40% | 271,300 | $50.8M | Reduce -0.1% |
| GILD Gilead Sciences Inc. | 0.40% | 453,585 | $50.3M | Add +1.3% |
| LHX L3HARRIS Technologies Inc. | 0.40% | 164,646 | $50.3M | Add +0.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.38% | 333,948 | $48.3M | Add +6.3% |
| SPOT Spotify Technology SA | 0.38% | 68,195 | $47.6M | Reduce -32.4% |
| CVX Chevron Corp. | 0.36% | 293,048 | $45.5M | Add +0.4% |
| CI The Cigna Group | 0.36% | 157,252 | $45.3M | Add +0.6% |
| AMAT Applied Materials Inc. | 0.35% | 216,361 | $44.3M | Reduce -0.5% |
| CAH Cardinal Health Inc. | 0.35% | 276,361 | $43.4M | Add +1.4% |
| LAMR Lamar Advertising Co. Class A | 0.34% | 353,642 | $43.3M | Add +0.3% |
| ADP Automatic Data Processing | 0.34% | 144,754 | $42.5M | Add +0.6% |
| MRSH Marsh & McLennan Cos | 0.33% | 205,584 | $41.4M | Add +5.5% |
| RSG Republic Services Inc. | 0.33% | 180,243 | $41.4M | Reduce -2.1% |
| CMCSA Comcast Corp. Class A | 0.32% | 1,285,745 | $40.4M | Reduce -0.3% |
| WPC WP Carey Inc. | 0.31% | 571,938 | $38.6M | Add +0.4% |
| TMUS T-Mobile US Inc. | 0.30% | 158,322 | $37.9M | Add +5.4% |
| PNR Pentair PLC | 0.30% | 340,171 | $37.7M | New |
| HWM Howmet Aerospace Inc. | 0.30% | 191,554 | $37.6M | Add +13.8% |
| DD Dupont DE Nemours Inc. | 0.30% | 482,388 | $37.6M | Add +0.2% |
| COST Costco Wholesale Corp. | 0.29% | 39,928 | $37.0M | Add +0.4% |
| CDNS Cadence Design SYS Inc. | 0.29% | 103,512 | $36.4M | Reduce -0.3% |
| AMP Ameriprise Financial Inc. | 0.29% | 73,939 | $36.3M | Reduce -0.7% |
| RCL Royal Caribbean Cruises Ltd. | 0.28% | 109,071 | $35.3M | Add +3.7% |
| UBER Uber Technologies Inc. | 0.28% | 358,174 | $35.1M | Add +4.5% |
| RTX RTX Corp. | 0.28% | 207,449 | $34.7M | Reduce -11.1% |
| FNF Fidelity National Financial | 0.27% | 568,090 | $34.4M | Add +0.3% |
| GOOG Alphabet Inc. Class C | 0.27% | 138,738 | $33.8M | Reduce -0.0% |
| BR Broadridge Financial Solutio | 0.27% | 140,644 | $33.5M | Add +0.6% |
| V Visa Inc. Class A | 0.26% | 96,136 | $32.8M | Add +0.8% |
| MCO Moody's Corp. | 0.26% | 67,891 | $32.3M | Add +4.8% |
| GS Goldman Sachs Group Inc. | 0.26% | 40,570 | $32.3M | Add +3.2% |
| CFG Citizens Financial Group | 0.26% | 604,187 | $32.1M | Add +0.2% |
Portfolio Sells Q2 2025 → Q3 2025
| JCI Johnson Controls Internation | Reduce -98.1% | 0.01% | −0.57 |
| MMM 3M Co. | Reduce -98.3% | 0.01% | −0.52 |
| SNPS Synopsys Inc. | Reduce -81.9% | 0.07% | −0.37 |
| HBAN Huntington Bancshares Inc. | Reduce -98.5% | 0.00% | −0.30 |
| SPOT Spotify Technology SA | Reduce -32.4% | 0.38% | −0.28 |
| SO The Southern Co. | Reduce -19.4% | 0.80% | −0.23 |
| NFLX Netflix Inc. | Reduce -2.0% | 1.02% | −0.23 |
| QCOM Qualcomm Inc. | Reduce -21.2% | 0.65% | −0.20 |
| FISV Fiserv Inc. | Reduce -95.2% | 0.01% | −0.18 |
| FTNT Fortinet Inc. | Reduce -65.6% | 0.06% | −0.17 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -97.5% | 0.00% | −0.16 |
| TWLO Twilio Inc. Class A | Reduce -98.5% | 0.00% | −0.16 |
| T AT&T Inc. | Reduce -12.3% | 0.58% | −0.15 |
| AMZN Amazon.com Inc. | Reduce -0.3% | 1.90% | −0.15 |
| CRM Salesforce Inc. | Reduce -32.4% | 0.17% | −0.14 |
| NEE Nextera Energy Inc. | Reduce -90.6% | 0.01% | −0.14 |
| ABT Abbott Laboratories | Reduce -13.7% | 0.51% | −0.13 |
| VEEV Veeva Systems Inc. Class A | Reduce -98.5% | 0.00% | −0.12 |
| CSCO Cisco Systems Inc. | Reduce -0.3% | 1.28% | −0.12 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -62.9% | 0.06% | −0.11 |
| UI Ubiquiti Inc. | Reduce -78.9% | 0.05% | −0.11 |
| KO The Coca-Cola Co. | Reduce -0.3% | 0.66% | −0.10 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.09 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.09 |
| AJG Arthur J Gallagher & Co. | Reduce -0.7% | 0.73% | −0.09 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -26.8% | 0.22% | −0.08 |
| CMCSA Comcast Corp. Class A | Reduce -0.3% | 0.32% | −0.07 |
| PODD Insulet Corp. | Reduce -97.5% | 0.00% | −0.07 |
| POR Portland General Electric Co. | Sold out | 0.00% | −0.07 |
| SNV Synovus Financial Corp. | Reduce -96.0% | 0.00% | −0.06 |
| RSG Republic Services Inc. | Reduce -2.1% | 0.33% | −0.06 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -23.6% | 0.15% | −0.06 |
| PREMIER INC-CLASS A | Reduce -82.5% | 0.01% | −0.05 |
| AMP Ameriprise Financial Inc. | Reduce -0.7% | 0.29% | −0.05 |
| ZS Zscaler Inc. | Reduce -10.0% | 0.20% | −0.05 |
| AXTA Axalta Coating Systems Ltd. | Sold out | 0.00% | −0.05 |
| ICUI Icu Medical Inc. | Sold out | 0.00% | −0.04 |
| AWK American Water Works Co. Inc. | Reduce -13.2% | 0.17% | −0.04 |
| PEG Public Service Enterprise GP | Reduce -0.1% | 0.46% | −0.04 |
| EQT Eqt Corp. | Reduce -82.8% | 0.01% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -0.3% | 1.30% | −0.04 |
| AGG iShares Core U.S. Aggregate | Reduce -0.1% | 0.61% | −0.04 |
| ALX Alexander's Inc. | Sold out | 0.00% | −0.04 |
| BMI Badger Meter Inc. | Sold out | 0.00% | −0.04 |
| ONIT Onity Group Inc. | Sold out | 0.00% | −0.03 |
| NRIM Northrim Bancorp Inc. | Sold out | 0.00% | −0.03 |
| CCI Crown Castle Inc. | Reduce -0.0% | 0.23% | −0.03 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.03 |
| ADMA Adma Biologics Inc. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| META Meta Platforms Inc. Class A | Add +39.9% | 2.77% | +0.63 |
| AAPL Apple Inc. | Add +5.5% | 3.24% | +0.58 |
| FERG Ferguson Enterprises Inc. | Add +314.8% | 0.70% | +0.52 |
| NVDA Nvidia Corp. | Add +2.5% | 4.31% | +0.49 |
| PNR Pentair PLC | New | 0.30% | +0.30 |
| TSLA Tesla Inc. | Add +4.7% | 1.02% | +0.27 |
| UNH Unitedhealth Group Inc. | Add +69.9% | 0.58% | +0.25 |
| JNJ Johnson & Johnson | Add +1.0% | 1.31% | +0.16 |
| FAST Fastenal Co. | New | 0.16% | +0.16 |
| APH Amphenol Corp. Class A | Add +21.6% | 0.51% | +0.15 |
| AWI Armstrong World Industries | New | 0.14% | +0.14 |
| COF Capital One Financial Corp. | Add +1452.5% | 0.15% | +0.14 |
| GLW Corning Inc. | Add +34.4% | 0.25% | +0.12 |
| ORCL Oracle Corp. | Add +4.8% | 0.60% | +0.12 |
| SNOW Snowflake Inc. | New | 0.12% | +0.12 |
| CCL Carnival Corp. | New | 0.12% | +0.12 |
| AMD Advanced Micro Devices | Add +91.2% | 0.22% | +0.11 |
| DELL Dell Technologies -C | New | 0.10% | +0.10 |
| ROKU Roku Inc. | New | 0.10% | +0.10 |
| DUOL Duolingo | New | 0.09% | +0.09 |
| HOOD Robinhood Markets Inc. Class A | Add +12.2% | 0.24% | +0.09 |
| CMI Cummins Inc. | Add +0.9% | 0.52% | +0.09 |
| EME Emcor Group Inc. | Add +0.0% | 0.74% | +0.09 |
| NI Nisource Inc. | Add +139.6% | 0.15% | +0.09 |
| GPN Global Payments Inc. | New | 0.08% | +0.08 |
| NDAQ Nasdaq Inc. | Add +101.3% | 0.16% | +0.07 |
| GD General Dynamics Corp. | Add +0.7% | 0.80% | +0.07 |
| HD Home Depot Inc. | Add +1.4% | 1.66% | +0.07 |
| STWD Starwood Property Trust Inc. | New | 0.07% | +0.07 |
| RDDT Reddit Inc. Class A | New | 0.06% | +0.06 |
| TFX Teleflex Inc. | New | 0.06% | +0.06 |
| LRCX Lam Research Corp. | Add +0.5% | 0.24% | +0.05 |
| TJX TJX Companies Inc. | Add +6.3% | 0.38% | +0.05 |
| P Everpure Inc. Class A | Add +2.4% | 0.18% | +0.05 |
| LHX L3HARRIS Technologies Inc. | Add +0.4% | 0.40% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +0.2% | 3.08% | +0.05 |
| NSC Norfolk Southern Corp. | Add +0.9% | 0.49% | +0.05 |
| LDOS Leidos Holdings Inc. | Add +12.7% | 0.20% | +0.04 |
| SGOV iShares 0-3 Month Treasury B | New | 0.04% | +0.04 |
| APP AppLovin Corp. Class A | Add +0.8% | 0.08% | +0.04 |
| PHM Pultegroup Inc. | Add +3.1% | 0.21% | +0.04 |
| PRIM Primoris Services Corp. | New | 0.03% | +0.03 |
| LFUS Littelfuse Inc. | New | 0.03% | +0.03 |
| TCBI Texas Capital Bancshares Inc. | New | 0.03% | +0.03 |
| HWM Howmet Aerospace Inc. | Add +13.8% | 0.30% | +0.03 |
| M Macy's Inc. | New | 0.03% | +0.03 |
| CADE Cadence Bank | New | 0.03% | +0.03 |
| AGCO Agco Corp. | New | 0.03% | +0.03 |
| MMS Maximus Inc. | Add +779.7% | 0.03% | +0.03 |
| INDB Independent Bank Corp. | New | 0.03% | +0.03 |
Notes & Other Activity Q2 2025 → Q3 2025
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | Sold out | 21,646 | $79Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 724 | $14.1B | AAPL, NVDA, GOOGL, MSFT, AVGO |
| Q1 2026 | 706 | $12.5B | NVDA, AAPL, GOOGL, MSFT, CAT |
| Q4 2025 | 723 | $12.7B | NVDA, MSFT, GOOGL, AAPL, JPM |
| Q3 2025 | 738 | $12.6B | NVDA, MSFT, AAPL, JPM, GOOGL |
| Q2 2025 | 691 | $11.7B | MSFT, NVDA, JPM, AAPL, GOOGL |
| Q1 2025 | 650 | $10.7B | MSFT, AAPL, JPM, NVDA, PG |
| Q4 2024 | 664 | $10.8B | MSFT, NVDA, AAPL, JPM, AMZN |
| Q3 2024 | 677 | $11.5B | MSFT, NVDA, AAPL, JPM, PG |
| Q2 2024 | 607 | $8.9B | MSFT, NVDA, JPM, GOOGL, PG |
| Q1 2024 | 628 | $9.4B | MSFT, NVDA, AAPL, JPM, CAT |