ZWJ Investment Counsel Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 16, 2025), ZWJ Investment Counsel Inc. reported 221 stock positions worth $2.4 billion. Its top holding was Broadcom (AVGO) at 4.3% of the portfolio, followed by Alphabet Class C (GOOG, 3.8%) and Microsoft (MSFT, 3.5%). Compared with Q3 2024, it opened 15 new positions, sold out of 29, added to 103 and reduced 72. The biggest buy was Alphabet Class C (GOOG, shares +1%) and the biggest sale MGP Ingredients (MGPI, shares −25%).
- Most Recent 13F
- Q2 2026
- Location
- Atlanta, GA
- CIK
- 0000842782
- Portfolio Value
- $2.4B (Q4 2024)
- SEC Filing
- 0001580642-25-000345 ↗ filed Jan 16, 2025
Holdings Value
Holdings 221 stocks · $2.4B
| AVGO Broadcom Inc. | 4.32% | 451,542 | $104.7M | Reduce -4.3% |
| GOOG Alphabet Inc. Class C | 3.79% | 481,190 | $91.6M | Add +0.7% |
| MSFT Microsoft Corp. | 3.53% | 202,704 | $85.4M | Add +0.5% |
| NVDA Nvidia Corp. | 3.48% | 627,982 | $84.3M | Reduce -4.0% |
| ORCL Oracle Corp. | 3.48% | 505,731 | $84.3M | Reduce -3.3% |
| KO The Coca-Cola Co. | 3.46% | 1,345,087 | $83.7M | Add +0.5% |
| AAPL Apple Inc. | 2.92% | 282,098 | $70.6M | Reduce -1.0% |
| V Visa Inc. Class A | 2.49% | 190,604 | $60.2M | Add +6.4% |
| ABBV Abbvie Inc. | 2.44% | 332,772 | $59.1M | Add +1.8% |
| JPM JPMorgan Chase & Co. | 2.41% | 242,954 | $58.2M | Reduce -1.4% |
| BWXT BWX Technologies Inc. | 2.36% | 513,341 | $57.2M | Reduce -0.9% |
| FISV Fiserv Inc. | 2.32% | 273,837 | $56.3M | Reduce -1.1% |
| BSX Boston Scientific Corp. | 2.28% | 617,304 | $55.1M | Add +0.3% |
| CSCO Cisco Systems Inc. | 2.21% | 904,829 | $53.6M | Add +0.4% |
| AXP American Express Co. | 2.14% | 174,862 | $51.9M | Reduce -1.4% |
| INGR Ingredion Inc. | 2.09% | 366,935 | $50.5M | Reduce -0.3% |
| CB Chubb Ltd. | 2.06% | 180,784 | $50.0M | Add +2.1% |
| AZN Astrazeneca PLC-Spons ADR | 1.98% | 730,700 | $47.9M | Add +11.4% |
| NOC Northrop Grumman Corp. | 1.96% | 101,282 | $47.5M | Add +1.3% |
| PGR Progressive Corp. | 1.91% | 192,462 | $46.1M | Reduce -1.4% |
| ELV Elevance Health Inc. | 1.79% | 117,726 | $43.4M | Add +7.9% |
| CTVA Corteva Inc. | 1.74% | 740,503 | $42.2M | Add +2.1% |
| MDLZ Mondelez International Inc. Class A | 1.67% | 674,877 | $40.3M | Add +2.5% |
| AEP American Electric Power | 1.66% | 435,479 | $40.2M | Add +5.8% |
| TMO Thermo Fisher Scientific Inc. | 1.62% | 75,152 | $39.1M | Add +2.6% |
| EFX Equifax Inc. | 1.58% | 150,466 | $38.3M | Reduce -0.4% |
| MU Micron Technology Inc. | 1.46% | 419,134 | $35.3M | Add +0.6% |
| HD Home Depot Inc. | 1.45% | 89,919 | $35.0M | Reduce -1.4% |
| CVX Chevron Corp. | 1.40% | 233,866 | $33.9M | Add +2.0% |
| ROP Roper Technologies Inc. | 1.38% | 64,296 | $33.4M | Add +2.8% |
| J Jacobs Solutions Inc. | 1.36% | 245,495 | $32.8M | Reduce -2.9% |
| ACN Accenture PLC Class A | 1.27% | 87,177 | $30.7M | Add +1.1% |
| T AT&T Inc. | 1.25% | 1,331,306 | $30.3M | Add +0.0% |
| JNJ Johnson & Johnson | 1.25% | 208,857 | $30.2M | Add +0.8% |
| IPG Interpublic Group of Cos Inc. | 1.24% | 1,072,494 | $30.1M | Add +0.2% |
| PSX Phillips 66 | 1.21% | 256,768 | $29.3M | Add +3.5% |
| SAIA Saia Inc. | 1.13% | 59,870 | $27.3M | Add +2.8% |
| OUT Outfront Media Inc. | 1.08% | 1,477,499 | $26.2M | Add +2.1% |
| SSNC Ss&c Technologies Holdings | 1.03% | 330,352 | $25.0M | Add +3.5% |
| PG The Procter & Gamble Co. | 0.98% | 141,106 | $23.7M | Add +0.5% |
| TSN Tyson Foods Inc. Class A | 0.87% | 368,141 | $21.1M | Reduce -0.5% |
| GM General Motors Co. | 0.86% | 392,437 | $20.9M | Add +1.0% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.85% | 244,736 | $20.7M | Reduce -5.8% |
| EWBC East West Bancorp Inc. | 0.85% | 215,686 | $20.7M | Reduce -0.4% |
| YUM Yum! Brands Inc. | 0.82% | 148,064 | $19.9M | Add +9.5% |
| UBER Uber Technologies Inc. | 0.70% | 279,177 | $16.8M | Add +213.1% |
| APD Air Products & Chemicals Inc. | 0.64% | 53,274 | $15.5M | Add +4.2% |
| AME Ametek Inc. | 0.62% | 83,469 | $15.0M | Add +18.6% |
| ES Eversource Energy | 0.58% | 245,749 | $14.1M | Reduce -5.7% |
| FIS Fidelity National Info Serv | 0.48% | 145,308 | $11.7M | Reduce -0.3% |
| VZ Verizon Communications Inc. | 0.45% | 273,650 | $10.9M | Reduce -7.6% |
| ZBRA Zebra Technologies Corp. Class A | 0.41% | 25,690 | $9.9M | Reduce -1.4% |
| TPR Tapestry Inc. | 0.38% | 140,471 | $9.2M | Reduce -24.5% |
| MGPI MGP Ingredients Inc. | 0.36% | 220,923 | $8.7M | Reduce -24.8% |
| XOM Exxon Mobil Corp. | 0.35% | 77,694 | $8.4M | Add +1.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.34% | 14,102 | $8.3M | Add +3.0% |
| RSP Invesco S&P 500 Equal Weight | 0.33% | 45,691 | $8.0M | Add +6.0% |
| DG Dollar General Corp. | 0.31% | 99,265 | $7.5M | Reduce -2.1% |
| GE General Electric filed as GE AEROSPACE | 0.30% | 43,227 | $7.2M | Reduce -1.4% |
| GOOGL Alphabet Inc. Class A | 0.30% | 37,769 | $7.1M | Reduce -0.8% |
| DV Doubleverify Holdings Inc. | 0.27% | 341,904 | $6.6M | New |
| MQ Marqeta Inc. | 0.27% | 1,728,552 | $6.6M | Reduce -15.2% |
| MRK Merck & Co. Inc. | 0.23% | 56,473 | $5.6M | Reduce -2.9% |
| AMZN Amazon.com Inc. | 0.23% | 25,217 | $5.5M | Add +9.3% |
| ABT Abbott Laboratories | 0.23% | 48,882 | $5.5M | Reduce -0.8% |
| EOG EOG Resources Inc. | 0.23% | 44,841 | $5.5M | Add +7.7% |
| VOO Vanguard S&P 500 ETF | 0.21% | 9,449 | $5.1M | Reduce -3.2% |
| LLY Eli Lilly & Co. | 0.20% | 6,415 | $5.0M | Add +0.6% |
| TTE Totalenergies SE -Spon ADR | 0.20% | 88,764 | $4.8M | Reduce -5.8% |
| IOSP Innospec Inc. | 0.20% | 43,426 | $4.8M | Add +0.7% |
| CFG Citizens Financial Group | 0.18% | 98,014 | $4.3M | Add +10.3% |
| IVV iShares Core S&P 500 ETF | 0.16% | 6,465 | $3.8M | Reduce -22.7% |
| META Meta Platforms Inc. Class A | 0.15% | 6,386 | $3.7M | Add +2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.15% | 8,023 | $3.6M | Reduce -1.8% |
| COLB Columbia Banking System Inc. | 0.15% | 132,136 | $3.6M | Add +3.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 15,003 | $3.3M | Reduce -1.0% |
| TSLA Tesla Inc. | 0.13% | 7,729 | $3.1M | Add +2.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.12% | 67,959 | $3.0M | Add +0.9% |
| COST Costco Wholesale Corp. | 0.12% | 3,179 | $2.9M | Reduce -0.3% |
| SCHB Schwab US Broad Market ETF | 0.12% | 128,279 | $2.9M | Add +3.4% |
| GPC Genuine Parts Co. | 0.12% | 23,954 | $2.8M | No change |
| WMT Walmart Inc. | 0.10% | 28,117 | $2.5M | Add +3.9% |
| ADP Automatic Data Processing | 0.10% | 8,496 | $2.5M | Add +0.1% |
| RTX RTX Corp. | 0.10% | 21,330 | $2.5M | Reduce -0.6% |
| LOW Lowe's Cos Inc. | 0.10% | 9,757 | $2.4M | Add +0.1% |
| MDY State Street SPDR S&P Midcap | 0.10% | 4,200 | $2.4M | Add +3.4% |
| ITOT iShares Core S&P Total U.S. | 0.10% | 18,494 | $2.4M | Reduce -0.4% |
| WFC Wells Fargo & Co. | 0.10% | 33,540 | $2.4M | Add +1.8% |
| IUSV iShares Core S&P U.S. Value | 0.09% | 24,733 | $2.3M | Reduce -2.1% |
| IWB iShares Russell 1000 ETF | 0.09% | 6,982 | $2.2M | No change |
| PEP Pepsico Inc. | 0.09% | 13,797 | $2.1M | Reduce -3.5% |
| TFC Truist Financial Corp. | 0.08% | 46,453 | $2.0M | Reduce -0.9% |
| AMGN Amgen Inc. | 0.08% | 7,690 | $2.0M | Reduce -0.9% |
| SO The Southern Co. | 0.08% | 23,688 | $1.9M | Add +9.7% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.08% | 37,810 | $1.9M | Reduce -2.4% |
| NSC Norfolk Southern Corp. | 0.08% | 8,014 | $1.9M | Add +1.3% |
| USB US Bancorp | 0.07% | 37,591 | $1.8M | Reduce -3.1% |
| UNH Unitedhealth Group Inc. | 0.07% | 3,467 | $1.8M | Reduce -6.3% |
| VYM Vanguard High DVD Yield ETF | 0.07% | 13,049 | $1.7M | Add +0.5% |
| NEE Nextera Energy Inc. | 0.07% | 22,541 | $1.6M | Reduce -2.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $11K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 10,000 | $11K | No change |
Total filed on the 13F, all lines: $2.4B.
Portfolio Sells Q3 2024 → Q4 2024
| MGPI MGP Ingredients Inc. | Reduce -24.8% | 0.36% | −0.64 |
| IFF Intl Flavors & Fragrances | Reduce -5.8% | 0.85% | −0.26 |
| EFX Equifax Inc. | Reduce -0.4% | 1.58% | −0.23 |
| ORCL Oracle Corp. | Reduce -3.3% | 3.48% | −0.16 |
| ES Eversource Energy | Reduce -5.7% | 0.58% | −0.14 |
| MQ Marqeta Inc. | Reduce -15.2% | 0.27% | −0.14 |
| PGR Progressive Corp. | Reduce -1.4% | 1.91% | −0.12 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −0.09 |
| VZ Verizon Communications Inc. | Reduce -7.6% | 0.45% | −0.09 |
| HD Home Depot Inc. | Reduce -1.4% | 1.45% | −0.07 |
| TTE Totalenergies SE -Spon ADR | Reduce -5.8% | 0.20% | −0.05 |
| GE General Electric | Reduce -1.4% | 0.30% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -22.7% | 0.16% | −0.04 |
| DG Dollar General Corp. | Reduce -2.1% | 0.31% | −0.04 |
| MRK Merck & Co. Inc. | Reduce -2.9% | 0.23% | −0.04 |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | Sold out | 0.00% | −0.04 |
| TSN Tyson Foods Inc. Class A | Reduce -0.5% | 0.87% | −0.03 |
| AMGN Amgen Inc. | Reduce -0.9% | 0.08% | −0.02 |
| UNH Unitedhealth Group Inc. | Reduce -6.3% | 0.07% | −0.02 |
| PH Parker Hannifin Corp. | Sold out | 0.00% | −0.02 |
| FDX FedEx Corp. | Reduce -48.7% | 0.02% | −0.01 |
| DOW Dow Inc. | Sold out | 0.00% | −0.01 |
| FIS Fidelity National Info Serv | Reduce -0.3% | 0.48% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -2.3% | 0.07% | −0.01 |
| PEP Pepsico Inc. | Reduce -3.5% | 0.09% | −0.01 |
| GEHC GE Healthcare Technology | Reduce -35.8% | 0.01% | −0.01 |
| MCD McDonald's Corp. | Reduce -13.0% | 0.05% | −0.01 |
| BAX Baxter International Inc. | Sold out | 0.00% | −0.01 |
| INTC Intel Corp. | Sold out | 0.00% | −0.01 |
| MMSI Merit Medical Systems Inc. | Sold out | 0.00% | −0.01 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.01 |
| BWIN Baldwin Insurance Group Inc./ | Sold out | 0.00% | −0.01 |
| PIPR Piper Sandler Cos | Sold out | 0.00% | −0.01 |
| NWE Northwestern Energy Group Inc. | Sold out | 0.00% | −0.01 |
| UE Urban Edge Properties | Sold out | 0.00% | −0.01 |
| CCS Century Communities Inc. | Sold out | 0.00% | −0.01 |
| GMS GMS Inc. | Sold out | 0.00% | −0.01 |
| PCH Potlatchdeltic Corp. | Sold out | 0.00% | −0.01 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.01 |
| ARCB Arcbest Corp. | Sold out | 0.00% | −0.01 |
| BCC Boise Cascade Co. | Sold out | 0.00% | −0.01 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.01 |
| WDC Western Digital Corp. | Sold out | 0.00% | −0.01 |
| FCPT Four Corners Property Trust | Sold out | 0.00% | −0.01 |
| JJSF J & J Snack Foods Corp. | Sold out | 0.00% | −0.01 |
| MOG.A Moog Inc. Class A | Sold out | 0.00% | −0.01 |
| CNMD Conmed Corp. | Sold out | 0.00% | −0.01 |
| SCL Stepan Co. | Sold out | 0.00% | −0.01 |
| TSCO Tractor Supply Company | Sold out | 0.00% | −0.01 |
| BLBD Blue Bird Corp. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| GOOG Alphabet Inc. Class C | Add +0.7% | 3.79% | +0.52 |
| V Visa Inc. Class A | Add +6.4% | 2.49% | +0.48 |
| UBER Uber Technologies Inc. | Add +213.1% | 0.70% | +0.42 |
| DV Doubleverify Holdings Inc. | New | 0.27% | +0.27 |
| CSCO Cisco Systems Inc. | Add +0.4% | 2.21% | +0.25 |
| BSX Boston Scientific Corp. | Add +0.3% | 2.28% | +0.17 |
| GM General Motors Co. | Add +1.0% | 0.86% | +0.15 |
| AME Ametek Inc. | Add +18.6% | 0.62% | +0.13 |
| SAIA Saia Inc. | Add +2.8% | 1.13% | +0.09 |
| SSNC Ss&c Technologies Holdings | Add +3.5% | 1.03% | +0.07 |
| T AT&T Inc. | Add +0.0% | 1.25% | +0.06 |
| AMZN Amazon.com Inc. | Add +9.3% | 0.23% | +0.05 |
| YUM Yum! Brands Inc. | Add +9.5% | 0.82% | +0.05 |
| TSLA Tesla Inc. | Add +2.2% | 0.13% | +0.05 |
| CFG Citizens Financial Group | Add +10.3% | 0.18% | +0.03 |
| ACN Accenture PLC Class A | Add +1.1% | 1.27% | +0.02 |
| WFC Wells Fargo & Co. | Add +1.8% | 0.10% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +3.0% | 0.34% | +0.02 |
| DGRO iShares Core Dividend Growth | New | 0.02% | +0.02 |
| CVX Chevron Corp. | Add +2.0% | 1.40% | +0.02 |
| EOG EOG Resources Inc. | Add +7.7% | 0.23% | +0.02 |
| APD Air Products & Chemicals Inc. | Add +4.2% | 0.64% | +0.02 |
| WMT Walmart Inc. | Add +3.9% | 0.10% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +6.0% | 0.33% | +0.02 |
| BAC Bank of America Corp. | Add +0.9% | 0.12% | +0.01 |
| COLB Columbia Banking System Inc. | Add +3.2% | 0.15% | +0.01 |
| LPLA LPL Financial Holdings Inc. | New | 0.01% | +0.01 |
| BA The Boeing Co. | New | 0.01% | +0.01 |
| TXNM TXNM Energy Inc. | New | 0.01% | +0.01 |
| VTLE Vital Energy Inc. | New | 0.01% | +0.01 |
| VRRM Verra Mobility Corp. | New | 0.01% | +0.01 |
| RNST Renasant Corp. | New | 0.01% | +0.01 |
| ORLY O'reilly Automotive Inc. | New | 0.01% | +0.01 |
| SCHG Schwab US Large-Cap Growth | New | 0.01% | +0.01 |
| AIR Aar Corp. | New | 0.01% | +0.01 |
| ALG Alamo Group Inc. | New | 0.01% | +0.01 |
| CDP Copt Defense Properties | New | 0.01% | +0.01 |
| PLYM Plymouth Industrial REIT Inc. | New | 0.01% | +0.01 |
| SBCF Seacoast Banking Corp. | New | 0.01% | +0.01 |
| META Meta Platforms Inc. Class A | Add +2.1% | 0.15% | +0.01 |
| SCHB Schwab US Broad Market ETF | Add +3.4% | 0.12% | +0.01 |
| DIS The Walt Disney Co. | Add +6.9% | 0.04% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +0.1% | 0.05% | +0.01 |
| ADP Automatic Data Processing | Add +0.1% | 0.10% | +0.01 |
| EMR Emerson Electric Co. | Add +0.5% | 0.04% | +0.01 |
| SNA Snap-on Inc. | Add +4.3% | 0.03% | +0.00 |
| IWM iShares Russell 2000 ETF | Add +43.1% | 0.02% | +0.00 |
| MDY State Street SPDR S&P Midcap | Add +3.4% | 0.10% | +0.00 |
| GLW Corning Inc. | Add +18.2% | 0.02% | +0.00 |
| CRM Salesforce Inc. | Add +7.5% | 0.01% | +0.00 |
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 |