ZWJ Investment Counsel Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 26, 2024), ZWJ Investment Counsel Inc. reported 226 stock positions worth $2.2 billion. Its top holding was Microsoft (MSFT) at 3.8% of the portfolio, followed by Coca-Cola (KO, 3.7%) and Alphabet Class C (GOOG, 3.3%). Compared with Q4 2023, it opened 36 new positions, sold out of 6, added to 75 and reduced 77. The biggest buy was MGP Ingredients (MGPI, shares +314%) and the biggest sale Broadcom (AVGO, shares −24%).
- Most Recent 13F
- Q2 2026
- Location
- Atlanta, GA
- CIK
- 0000842782
- Portfolio Value
- $2.2B (Q1 2024)
- SEC Filing
- 0001580642-24-002320 ↗ filed Apr 26, 2024
Holdings Value
Holdings 226 stocks · $2.2B
| MSFT Microsoft Corp. | 3.81% | 199,067 | $83.8M | Reduce -2.7% |
| KO The Coca-Cola Co. | 3.74% | 1,343,680 | $82.2M | Add +1.4% |
| GOOG Alphabet Inc. Class C | 3.34% | 481,686 | $73.3M | Reduce -0.1% |
| AVGO Broadcom Inc. | 3.12% | 51,660 | $68.5M | Reduce -23.9% |
| NVDA Nvidia Corp. | 3.04% | 73,984 | $66.8M | Reduce -30.8% |
| ORCL Oracle Corp. | 3.04% | 531,844 | $66.8M | Add +0.1% |
| ABBV Abbvie Inc. | 2.63% | 317,779 | $57.9M | Add +0.2% |
| ELV Elevance Health Inc. | 2.48% | 105,084 | $54.5M | Add +2.4% |
| BWXT BWX Technologies Inc. | 2.41% | 515,022 | $52.9M | Reduce -4.9% |
| MU Micron Technology Inc. | 2.38% | 442,596 | $52.2M | Reduce -1.0% |
| JPM JPMorgan Chase & Co. | 2.29% | 251,138 | $50.3M | Reduce -0.5% |
| J Jacobs Solutions Inc. | 2.25% | 322,047 | $49.5M | Reduce -2.4% |
| V Visa Inc. Class A | 2.21% | 173,885 | $48.5M | Add +2.6% |
| AAPL Apple Inc. | 2.19% | 280,287 | $48.1M | Reduce -5.1% |
| NOC Northrop Grumman Corp. | 2.10% | 96,265 | $46.1M | Add +2.9% |
| CB Chubb Ltd. | 2.04% | 172,558 | $44.7M | Reduce -0.8% |
| FISV Fiserv Inc. | 1.99% | 274,027 | $43.8M | Add +0.4% |
| AZN Astrazeneca PLC-Spons ADR | 1.99% | 644,891 | $43.7M | Add +4.3% |
| CSCO Cisco Systems Inc. | 1.92% | 845,051 | $42.2M | Add +5.4% |
| INGR Ingredion Inc. | 1.92% | 360,362 | $42.1M | Reduce -0.1% |
| PGR Progressive Corp. | 1.92% | 203,416 | $42.1M | Reduce -4.9% |
| EFX Equifax Inc. | 1.91% | 156,790 | $41.9M | Reduce -0.1% |
| BSX Boston Scientific Corp. | 1.89% | 606,136 | $41.5M | Reduce -3.3% |
| MDLZ Mondelez International Inc. Class A | 1.87% | 585,278 | $41.0M | Reduce -0.3% |
| AXP American Express Co. | 1.85% | 178,696 | $40.7M | Reduce -0.8% |
| TMO Thermo Fisher Scientific Inc. | 1.84% | 69,603 | $40.5M | Add +1.1% |
| CTVA Corteva Inc. | 1.81% | 687,424 | $39.6M | Add +14.1% |
| PSX Phillips 66 | 1.80% | 241,382 | $39.4M | Reduce -1.0% |
| CVX Chevron Corp. | 1.58% | 219,966 | $34.7M | Add +7.8% |
| AEP American Electric Power | 1.54% | 393,073 | $33.8M | Add +27.1% |
| HD Home Depot Inc. | 1.54% | 87,890 | $33.7M | Add +5.2% |
| JNJ Johnson & Johnson | 1.45% | 201,137 | $31.8M | Add +1.4% |
| IPG Interpublic Group of Cos Inc. | 1.43% | 959,123 | $31.3M | Add +1.1% |
| ROP Roper Technologies Inc. | 1.38% | 53,931 | $30.2M | Add +0.8% |
| MGPI MGP Ingredients Inc. | 1.08% | 276,549 | $23.8M | Add +314.1% |
| DG Dollar General Corp. | 1.06% | 149,037 | $23.3M | Add +18.6% |
| PG The Procter & Gamble Co. | 1.04% | 140,602 | $22.8M | Reduce -0.4% |
| OUT Outfront Media Inc. | 1.02% | 1,334,448 | $22.4M | Reduce -0.3% |
| T AT&T Inc. | 1.00% | 1,248,784 | $22.0M | Add +16.2% |
| SAIA Saia Inc. | 1.00% | 37,560 | $22.0M | Add +5.7% |
| TSN Tyson Foods Inc. Class A | 0.96% | 358,964 | $21.1M | Add +8.6% |
| ACN Accenture PLC Class A | 0.95% | 60,476 | $21.0M | Reduce -1.1% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.92% | 234,375 | $20.2M | Add +32.8% |
| EWBC East West Bancorp Inc. | 0.88% | 242,951 | $19.2M | Reduce -3.0% |
| SSNC Ss&c Technologies Holdings | 0.87% | 296,844 | $19.1M | Add +4.2% |
| GM General Motors Co. | 0.77% | 374,439 | $17.0M | Add +5.5% |
| YUM Yum! Brands Inc. | 0.72% | 114,034 | $15.8M | Add +6.6% |
| VZ Verizon Communications Inc. | 0.56% | 290,899 | $12.2M | Reduce -3.9% |
| ES Eversource Energy | 0.54% | 197,232 | $11.8M | Reduce -3.9% |
| MQ Marqeta Inc. | 0.49% | 1,809,067 | $10.8M | Add +31.9% |
| FIS Fidelity National Info Serv | 0.49% | 144,490 | $10.7M | No change |
| TPR Tapestry Inc. | 0.43% | 199,742 | $9.5M | Reduce -3.4% |
| XOM Exxon Mobil Corp. | 0.41% | 77,467 | $9.0M | Reduce -0.2% |
| TTE Totalenergies SE -Spon ADR | 0.36% | 115,158 | $7.9M | Reduce -15.2% |
| ZBRA Zebra Technologies Corp. Class A | 0.36% | 26,073 | $7.9M | Reduce -0.9% |
| GE General Electric | 0.35% | 43,402 | $7.6M | Reduce -0.6% |
| MRK Merck & Co. Inc. | 0.34% | 56,608 | $7.5M | Add +1.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.32% | 13,608 | $7.1M | Reduce -7.3% |
| RSP Invesco S&P 500 Equal Weight | 0.29% | 37,400 | $6.3M | Add +6.2% |
| IVV iShares Core S&P 500 ETF | 0.25% | 10,582 | $5.6M | Add +23.7% |
| ABT Abbott Laboratories | 0.25% | 47,724 | $5.4M | Add +1.0% |
| IOSP Innospec Inc. | 0.24% | 40,531 | $5.2M | Reduce -3.4% |
| GOOGL Alphabet Inc. Class A | 0.24% | 34,496 | $5.2M | Reduce -1.9% |
| LLY Eli Lilly & Co. | 0.22% | 6,345 | $4.9M | Add +2.8% |
| VOO Vanguard S&P 500 ETF | 0.20% | 9,289 | $4.5M | Reduce -3.1% |
| APD Air Products & Chemicals Inc. | 0.20% | 18,101 | $4.4M | New |
| AMZN Amazon.com Inc. | 0.19% | 22,741 | $4.1M | Add +38.6% |
| WBD Warner Bros Discovery Inc. | 0.19% | 466,853 | $4.1M | Add +12.0% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.18% | 79,575 | $4.0M | Reduce -16.3% |
| AME Ametek Inc. | 0.18% | 21,686 | $4.0M | Add +10.1% |
| GPC Genuine Parts Co. | 0.17% | 24,045 | $3.7M | Reduce -0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.16% | 8,572 | $3.6M | Add +0.8% |
| CFG Citizens Financial Group | 0.15% | 90,444 | $3.3M | Reduce -17.6% |
| META Meta Platforms Inc. Class A | 0.14% | 6,127 | $3.0M | Add +30.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 15,450 | $3.0M | Reduce -3.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.12% | 71,835 | $2.7M | Add +21.3% |
| SCHB Schwab US Broad Market ETF | 0.12% | 42,741 | $2.6M | Reduce -8.7% |
| PEP Pepsico Inc. | 0.12% | 14,548 | $2.5M | Add +4.6% |
| USB US Bancorp | 0.11% | 56,407 | $2.5M | Reduce -6.4% |
| LOW Lowe's Cos Inc. | 0.11% | 9,871 | $2.5M | No change |
| MDY State Street SPDR S&P Midcap | 0.11% | 4,202 | $2.3M | Reduce -7.0% |
| COST Costco Wholesale Corp. | 0.11% | 3,184 | $2.3M | Add +15.9% |
| ITOT iShares Core S&P Total U.S. | 0.10% | 18,903 | $2.2M | Reduce -4.8% |
| AMGN Amgen Inc. | 0.10% | 7,502 | $2.1M | Reduce -2.1% |
| RTX RTX Corp. | 0.10% | 21,758 | $2.1M | Add +9.7% |
| ADP Automatic Data Processing | 0.10% | 8,490 | $2.1M | Reduce -0.4% |
| COLB Columbia Banking System Inc. | 0.09% | 102,731 | $2.0M | Add +4.0% |
| NSC Norfolk Southern Corp. | 0.09% | 7,514 | $1.9M | Add +0.8% |
| UNH Unitedhealth Group Inc. | 0.08% | 3,629 | $1.8M | Add +91.0% |
| WFC Wells Fargo & Co. | 0.08% | 30,448 | $1.8M | Add +50.0% |
| WMT Walmart Inc. | 0.08% | 28,967 | $1.7M | Add +75.0% |
| TFC Truist Financial Corp. | 0.08% | 44,111 | $1.7M | Reduce -8.0% |
| NEE Nextera Energy Inc. | 0.08% | 26,647 | $1.7M | Add +16.5% |
| SO The Southern Co. | 0.07% | 21,695 | $1.6M | Reduce -1.4% |
| O Realty Income Corp. | 0.07% | 28,566 | $1.5M | New |
| CAT Caterpillar Inc. | 0.07% | 4,043 | $1.5M | Add +1.5% |
| IWB iShares Russell 1000 ETF | 0.06% | 4,871 | $1.4M | Reduce -2.0% |
| DUK Duke Energy Corp. | 0.06% | 14,043 | $1.4M | Reduce -1.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.06% | 11,068 | $1.4M | Add +11.5% |
| TSLA Tesla Inc. | 0.06% | 7,638 | $1.3M | Reduce -4.5% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $9K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 10,000 | $9K | No change |
Total filed on the 13F, all lines: $2.2B.
Portfolio Sells Q4 2023 → Q1 2024
| AVGO Broadcom Inc. | Reduce -23.9% | 3.12% | −0.78 |
| AAPL Apple Inc. | Reduce -5.1% | 2.19% | −0.74 |
| DXC DXC Technology Co. | Reduce -97.5% | 0.02% | −0.74 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.3% | 1.87% | −0.32 |
| GOOG Alphabet Inc. Class C | Reduce -0.1% | 3.34% | −0.16 |
| ACN Accenture PLC Class A | Reduce -1.1% | 0.95% | −0.15 |
| MSFT Microsoft Corp. | Reduce -2.7% | 3.81% | −0.14 |
| ES Eversource Energy | Reduce -3.9% | 0.54% | −0.11 |
| TTE Totalenergies SE -Spon ADR | Reduce -15.2% | 0.36% | −0.11 |
| INGR Ingredion Inc. | Reduce -0.1% | 1.92% | −0.10 |
| EAF Graftech International Ltd. | Reduce -89.7% | 0.01% | −0.09 |
| EFX Equifax Inc. | Reduce -0.1% | 1.91% | −0.09 |
| SRC Spirit Realty Capital Inc. | Sold out | 0.00% | −0.08 |
| JMST JPM Ultra-Short Muni Income | Reduce -16.3% | 0.18% | −0.06 |
| EWBC East West Bancorp Inc. | Reduce -3.0% | 0.88% | −0.05 |
| TSLA Tesla Inc. | Reduce -4.5% | 0.06% | −0.04 |
| CFG Citizens Financial Group | Reduce -17.6% | 0.15% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -7.3% | 0.32% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -3.9% | 0.56% | −0.03 |
| IOSP Innospec Inc. | Reduce -3.4% | 0.24% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.4% | 1.04% | −0.03 |
| MCD McDonald's Corp. | Reduce -15.4% | 0.05% | −0.02 |
| USB US Bancorp | Reduce -6.4% | 0.11% | −0.02 |
| AMGN Amgen Inc. | Reduce -2.1% | 0.10% | −0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -1.9% | 0.24% | −0.02 |
| SCHB Schwab US Broad Market ETF | Reduce -8.7% | 0.12% | −0.02 |
| BA The Boeing Co. | Sold out | 0.00% | −0.01 |
| MMM 3M Co. | Reduce -8.9% | 0.05% | −0.01 |
| EFA iShares MSCI Eafe ETF | Sold out | 0.00% | −0.01 |
| TFC Truist Financial Corp. | Reduce -8.0% | 0.08% | −0.01 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -0.9% | 0.36% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -3.1% | 0.20% | −0.01 |
| PFE Pfizer Inc. | Reduce -10.8% | 0.04% | −0.01 |
| DISH Dish Network Corp. Class A | Sold out | 0.00% | −0.01 |
| MDY State Street SPDR S&P Midcap | Reduce -7.0% | 0.11% | −0.01 |
| TDC Teradata Corp. | Sold out | 0.00% | −0.01 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.01 |
| UNP Union Pacific Corp. | Reduce -7.1% | 0.05% | −0.01 |
| TXN Texas Instruments Inc. | Reduce -18.8% | 0.03% | −0.01 |
| DUK Duke Energy Corp. | Reduce -1.4% | 0.06% | −0.01 |
| EMR Emerson Electric Co. | Reduce -25.0% | 0.03% | −0.01 |
| SO The Southern Co. | Reduce -1.4% | 0.07% | −0.01 |
| ITOT iShares Core S&P Total U.S. | Reduce -4.8% | 0.10% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -5.4% | 0.04% | −0.01 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -7.3% | 0.05% | −0.01 |
| UPS United Parcel Service Class B | Reduce -1.5% | 0.03% | −0.01 |
| ADP Automatic Data Processing | Reduce -0.4% | 0.10% | −0.01 |
| CVS CVS Health Corp. | Reduce -22.9% | 0.01% | −0.01 |
| KMB Kimberly-Clark Corp. | Reduce -26.7% | 0.01% | −0.01 |
| WEC WEC Energy Group Inc. | Reduce -16.9% | 0.01% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| MGPI MGP Ingredients Inc. | Add +314.1% | 1.08% | +0.75 |
| CTVA Corteva Inc. | Add +14.1% | 1.81% | +0.32 |
| AEP American Electric Power | Add +27.1% | 1.54% | +0.25 |
| SAIA Saia Inc. | Add +5.7% | 1.00% | +0.20 |
| APD Air Products & Chemicals Inc. | New | 0.20% | +0.20 |
| IFF Intl Flavors & Fragrances | Add +32.8% | 0.92% | +0.18 |
| DG Dollar General Corp. | Add +18.6% | 1.06% | +0.18 |
| ORCL Oracle Corp. | Add +0.1% | 3.04% | +0.16 |
| FISV Fiserv Inc. | Add +0.4% | 1.99% | +0.13 |
| GM General Motors Co. | Add +5.5% | 0.77% | +0.12 |
| ABBV Abbvie Inc. | Add +0.2% | 2.63% | +0.11 |
| T AT&T Inc. | Add +16.2% | 1.00% | +0.07 |
| O Realty Income Corp. | New | 0.07% | +0.07 |
| AMZN Amazon.com Inc. | Add +38.6% | 0.19% | +0.06 |
| META Meta Platforms Inc. Class A | Add +30.8% | 0.14% | +0.05 |
| HD Home Depot Inc. | Add +5.2% | 1.54% | +0.05 |
| TSN Tyson Foods Inc. Class A | Add +8.6% | 0.96% | +0.05 |
| EOG EOG Resources Inc. | Add +436.6% | 0.06% | +0.04 |
| IVV iShares Core S&P 500 ETF | Add +23.7% | 0.25% | +0.04 |
| LLY Eli Lilly & Co. | Add +2.8% | 0.22% | +0.04 |
| ETN Eaton Corp. PLC | Add +131.4% | 0.06% | +0.04 |
| WMT Walmart Inc. | Add +75.0% | 0.08% | +0.03 |
| GS Goldman Sachs Group Inc. | New | 0.03% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +91.0% | 0.08% | +0.03 |
| WFC Wells Fargo & Co. | Add +50.0% | 0.08% | +0.03 |
| MRK Merck & Co. Inc. | Add +1.3% | 0.34% | +0.03 |
| MDT Medtronic PLC | New | 0.03% | +0.03 |
| PCAR Paccar Inc. | New | 0.03% | +0.03 |
| IQV Iqvia Holdings Inc. | New | 0.03% | +0.03 |
| LIN Linde PLC | New | 0.03% | +0.03 |
| QCOM Qualcomm Inc. | New | 0.02% | +0.02 |
| SCHW Schwab (charles) Corp. | New | 0.02% | +0.02 |
| NXPI NXP Semiconductors NV | New | 0.02% | +0.02 |
| TMUS T-Mobile US Inc. | New | 0.02% | +0.02 |
| BAC Bank of America Corp. | Add +21.3% | 0.12% | +0.02 |
| REGN Regeneron Pharmaceuticals | New | 0.02% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +189.3% | 0.03% | +0.02 |
| CDW CDW Corp. | New | 0.02% | +0.02 |
| AZO AutoZone Inc. | New | 0.02% | +0.02 |
| EW Edwards Lifesciences Corp. | New | 0.02% | +0.02 |
| NOW ServiceNow Inc. | New | 0.02% | +0.02 |
| BKR Baker Hughes Co. | New | 0.02% | +0.02 |
| LYB Lyondellbasell Indu Class A | New | 0.02% | +0.02 |
| CSX CSX Corp. | Add +166.7% | 0.03% | +0.02 |
| QSR Restaurant Brands Intern | New | 0.02% | +0.02 |
| PLD Prologis Inc. | New | 0.02% | +0.02 |
| HCA HCA Healthcare Inc. | New | 0.02% | +0.02 |
| DIS The Walt Disney Co. | Add +11.5% | 0.06% | +0.02 |
| AMD Advanced Micro Devices | New | 0.02% | +0.02 |
| WAT Waters Corp. | New | 0.02% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 290 | $3.1B | MU, GOOG, AVGO, KO, NVDA |
| Q1 2026 | 241 | $2.8B | GOOG, KO, NVDA, AVGO, BWXT |
| Q4 2025 | 237 | $2.8B | GOOG, MU, AVGO, NVDA, MSFT |
| Q3 2025 | 244 | $2.8B | GOOG, ORCL, NVDA, MSFT, AVGO |
| Q2 2025 | 240 | $2.7B | ORCL, MSFT, AVGO, NVDA, KO |
| Q1 2025 | 210 | $2.5B | KO, MSFT, GOOG, ABBV, ORCL |
| Q4 2024 | 221 | $2.4B | AVGO, GOOG, MSFT, NVDA, ORCL |
| Q3 2024 | 235 | $2.4B | KO, ORCL, MSFT, AVGO, GOOG |
| Q2 2024 | 225 | $2.3B | MSFT, GOOG, KO, NVDA, AVGO |
| Q1 2024 | 226 | $2.2B | MSFT, KO, GOOG, AVGO, NVDA |