ZWJ Investment Counsel Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 28, 2025), ZWJ Investment Counsel Inc. reported 210 stock positions worth $2.5 billion. Its top holding was Coca-Cola (KO) at 3.9% of the portfolio, followed by Microsoft (MSFT, 3.1%) and Alphabet Class C (GOOG, 2.9%). Compared with Q4 2024, it opened 5 new positions, sold out of 16, added to 63 and reduced 84. The biggest buy was Boeing (BA, shares +10997%) and the biggest sale Broadcom (AVGO, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- Atlanta, GA
- CIK
- 0000842782
- Portfolio Value
- $2.5B (Q1 2025)
- SEC Filing
- 0001580642-25-002589 ↗ filed Apr 28, 2025
Holdings Value
Holdings 210 stocks · $2.5B
| KO The Coca-Cola Co. | 3.92% | 1,346,159 | $96.4M | Add +0.1% |
| MSFT Microsoft Corp. | 3.11% | 203,428 | $76.4M | Add +0.4% |
| GOOG Alphabet Inc. Class C | 2.94% | 462,720 | $72.3M | Reduce -3.8% |
| ABBV Abbvie Inc. | 2.84% | 333,565 | $69.9M | Add +0.2% |
| ORCL Oracle Corp. | 2.68% | 470,943 | $65.8M | Reduce -6.9% |
| V Visa Inc. Class A | 2.67% | 187,599 | $65.7M | Reduce -1.6% |
| NVDA Nvidia Corp. | 2.66% | 602,717 | $65.3M | Reduce -4.0% |
| AVGO Broadcom Inc. | 2.61% | 383,125 | $64.1M | Reduce -15.2% |
| BSX Boston Scientific Corp. | 2.48% | 603,631 | $60.9M | Reduce -2.2% |
| AAPL Apple Inc. | 2.44% | 270,495 | $60.1M | Reduce -4.1% |
| FISV Fiserv Inc. | 2.38% | 265,525 | $58.6M | Reduce -3.0% |
| JPM JPMorgan Chase & Co. | 2.37% | 237,370 | $58.2M | Reduce -2.3% |
| CB Chubb Ltd. | 2.27% | 184,898 | $55.8M | Add +2.3% |
| CSCO Cisco Systems Inc. | 2.25% | 896,776 | $55.3M | Reduce -0.9% |
| AZN Astrazeneca PLC-Spons ADR | 2.24% | 749,319 | $55.1M | Add +2.5% |
| ELV Elevance Health Inc. | 2.17% | 122,832 | $53.4M | Add +4.3% |
| NOC Northrop Grumman Corp. | 2.16% | 103,670 | $53.1M | Add +2.4% |
| PGR Progressive Corp. | 2.14% | 185,940 | $52.6M | Reduce -3.4% |
| INGR Ingredion Inc. | 2.05% | 372,958 | $50.4M | Add +1.6% |
| BWXT BWX Technologies Inc. | 2.03% | 506,563 | $50.0M | Reduce -1.3% |
| MDLZ Mondelez International Inc. Class A | 1.95% | 705,066 | $47.8M | Add +4.5% |
| AEP American Electric Power | 1.92% | 432,651 | $47.3M | Reduce -0.7% |
| CTVA Corteva Inc. | 1.92% | 748,527 | $47.1M | Add +1.1% |
| AXP American Express Co. | 1.85% | 168,619 | $45.4M | Reduce -3.6% |
| CVX Chevron Corp. | 1.64% | 240,877 | $40.3M | Add +3.0% |
| ROP Roper Technologies Inc. | 1.62% | 67,577 | $39.8M | Add +5.1% |
| TMO Thermo Fisher Scientific Inc. | 1.57% | 77,770 | $38.7M | Add +3.5% |
| MU Micron Technology Inc. | 1.51% | 426,649 | $37.1M | Add +1.8% |
| EFX Equifax Inc. | 1.49% | 150,466 | $36.6M | No change |
| T AT&T Inc. | 1.45% | 1,264,809 | $35.8M | Reduce -5.0% |
| JNJ Johnson & Johnson | 1.43% | 211,708 | $35.1M | Add +1.4% |
| PSX Phillips 66 | 1.35% | 269,056 | $33.2M | Add +4.8% |
| HD Home Depot Inc. | 1.34% | 90,130 | $33.0M | Add +0.2% |
| IPG Interpublic Group of Cos Inc. | 1.21% | 1,095,502 | $29.8M | Add +2.1% |
| J Jacobs Solutions Inc. | 1.17% | 238,361 | $28.8M | Reduce -2.9% |
| SSNC Ss&c Technologies Holdings | 1.13% | 331,256 | $27.7M | Add +0.3% |
| ACN Accenture PLC Class A | 1.12% | 87,928 | $27.4M | Add +0.9% |
| TSN Tyson Foods Inc. Class A | 1.01% | 389,626 | $24.9M | Add +5.8% |
| YUM Yum! Brands Inc. | 0.98% | 153,657 | $24.2M | Add +3.8% |
| PG The Procter & Gamble Co. | 0.98% | 141,594 | $24.1M | Add +0.3% |
| BA The Boeing Co. | 0.98% | 140,819 | $24.0M | Add +10996.9% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.96% | 305,164 | $23.7M | Add +24.7% |
| UBER Uber Technologies Inc. | 0.95% | 321,643 | $23.4M | Add +15.2% |
| OUT Outfront Media Inc. | 0.95% | 1,443,058 | $23.3M | No change |
| SAIA Saia Inc. | 0.90% | 63,291 | $22.1M | Add +5.7% |
| EWBC East West Bancorp Inc. | 0.78% | 212,972 | $19.1M | Reduce -1.3% |
| GM General Motors Co. | 0.72% | 378,121 | $17.8M | Reduce -3.6% |
| SRE Sempra | 0.68% | 235,608 | $16.8M | New |
| APD Air Products & Chemicals Inc. | 0.68% | 56,326 | $16.6M | Add +5.7% |
| AME Ametek Inc. | 0.64% | 90,780 | $15.6M | Add +8.8% |
| DV Doubleverify Holdings Inc. | 0.60% | 1,108,706 | $14.8M | Add +224.3% |
| VZ Verizon Communications Inc. | 0.58% | 315,639 | $14.3M | Add +15.3% |
| DG Dollar General Corp. | 0.54% | 151,415 | $13.3M | Add +52.5% |
| ES Eversource Energy | 0.48% | 191,157 | $11.9M | Reduce -22.2% |
| FIS Fidelity National Info Serv | 0.44% | 145,244 | $10.8M | Reduce -0.0% |
| XOM Exxon Mobil Corp. | 0.38% | 77,928 | $9.3M | Add +0.3% |
| GE General Electric filed as GE AEROSPACE | 0.36% | 43,867 | $8.8M | Add +1.5% |
| RSP Invesco S&P 500 Equal Weight | 0.35% | 49,400 | $8.6M | Add +8.1% |
| MQ Marqeta Inc. | 0.32% | 1,880,554 | $7.7M | Add +8.8% |
| TPR Tapestry Inc. | 0.31% | 108,557 | $7.6M | Reduce -22.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.31% | 13,597 | $7.6M | Reduce -3.6% |
| ZBRA Zebra Technologies Corp. Class A | 0.29% | 25,422 | $7.2M | Reduce -1.0% |
| ABT Abbott Laboratories | 0.26% | 47,884 | $6.4M | Reduce -2.0% |
| MGPI MGP Ingredients Inc. | 0.26% | 215,949 | $6.3M | Reduce -2.3% |
| EOG EOG Resources Inc. | 0.25% | 48,836 | $6.3M | Add +8.9% |
| GOOGL Alphabet Inc. Class A | 0.23% | 36,010 | $5.6M | Reduce -4.7% |
| TTE Totalenergies SE -Spon ADR | 0.23% | 85,615 | $5.5M | Reduce -3.5% |
| LLY Eli Lilly & Co. | 0.21% | 6,394 | $5.3M | Reduce -0.3% |
| VOO Vanguard S&P 500 ETF | 0.21% | 10,079 | $5.2M | Add +6.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.19% | 6 | $4.8M | New |
| AMZN Amazon.com Inc. | 0.19% | 23,996 | $4.6M | Reduce -4.8% |
| IOSP Innospec Inc. | 0.18% | 46,311 | $4.4M | Add +6.6% |
| CFG Citizens Financial Group | 0.17% | 101,134 | $4.1M | Add +3.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 7,768 | $4.1M | Reduce -3.2% |
| COLB Columbia Banking System Inc. | 0.16% | 162,561 | $4.1M | Add +23.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 15,083 | $3.8M | Add +0.5% |
| IVV iShares Core S&P 500 ETF | 0.15% | 6,518 | $3.7M | Add +0.8% |
| META Meta Platforms Inc. Class A | 0.15% | 6,306 | $3.6M | Reduce -1.3% |
| MRK Merck & Co. Inc. | 0.13% | 35,559 | $3.2M | Reduce -37.0% |
| GPC Genuine Parts Co. | 0.12% | 23,968 | $2.9M | Add +0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.11% | 67,537 | $2.8M | Reduce -0.6% |
| SCHB Schwab US Broad Market ETF | 0.11% | 124,618 | $2.7M | Reduce -2.9% |
| RTX RTX Corp. | 0.11% | 20,006 | $2.7M | Reduce -6.2% |
| COST Costco Wholesale Corp. | 0.11% | 2,789 | $2.6M | Reduce -12.3% |
| ADP Automatic Data Processing | 0.11% | 8,496 | $2.6M | No change |
| WFC Wells Fargo & Co. | 0.10% | 32,992 | $2.4M | Reduce -1.6% |
| WMT Walmart Inc. | 0.10% | 26,767 | $2.3M | Reduce -4.8% |
| AMGN Amgen Inc. | 0.09% | 7,475 | $2.3M | Reduce -2.8% |
| IUSV iShares Core S&P U.S. Value | 0.09% | 24,917 | $2.3M | Add +0.7% |
| IWB iShares Russell 1000 ETF | 0.09% | 6,982 | $2.1M | No change |
| SO The Southern Co. | 0.09% | 23,102 | $2.1M | Reduce -2.5% |
| MDY State Street SPDR S&P Midcap | 0.08% | 3,857 | $2.1M | Reduce -8.2% |
| LOW Lowe's Cos Inc. | 0.08% | 8,457 | $2.0M | Reduce -13.3% |
| ITOT iShares Core S&P Total U.S. | 0.08% | 15,975 | $1.9M | Reduce -13.6% |
| TSLA Tesla Inc. | 0.08% | 7,484 | $1.9M | Reduce -3.2% |
| PEP Pepsico Inc. | 0.08% | 12,921 | $1.9M | Reduce -6.3% |
| NSC Norfolk Southern Corp. | 0.08% | 8,014 | $1.9M | No change |
| TFC Truist Financial Corp. | 0.08% | 45,463 | $1.9M | Reduce -2.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.07% | 3,764 | $1.8M | Add +126.2% |
| VYM Vanguard High DVD Yield ETF | 0.07% | 13,878 | $1.8M | Add +6.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $12K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 10,000 | $12K | No change |
Total filed on the 13F, all lines: $2.5B.
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -15.2% | 2.61% | −1.72 |
| GOOG Alphabet Inc. Class C | Reduce -3.8% | 2.94% | −0.85 |
| NVDA Nvidia Corp. | Reduce -4.0% | 2.66% | −0.83 |
| ORCL Oracle Corp. | Reduce -6.9% | 2.68% | −0.80 |
| AAPL Apple Inc. | Reduce -4.1% | 2.44% | −0.47 |
| BWXT BWX Technologies Inc. | Reduce -1.3% | 2.03% | −0.33 |
| AXP American Express Co. | Reduce -3.6% | 1.85% | −0.30 |
| J Jacobs Solutions Inc. | Reduce -2.9% | 1.17% | −0.18 |
| GM General Motors Co. | Reduce -3.6% | 0.72% | −0.14 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -1.0% | 0.29% | −0.12 |
| MRK Merck & Co. Inc. | Reduce -37.0% | 0.13% | −0.10 |
| MGPI MGP Ingredients Inc. | Reduce -2.3% | 0.26% | −0.10 |
| ES Eversource Energy | Reduce -22.2% | 0.48% | −0.10 |
| EWBC East West Bancorp Inc. | Reduce -1.3% | 0.78% | −0.08 |
| GOOGL Alphabet Inc. Class A | Reduce -4.7% | 0.23% | −0.07 |
| TPR Tapestry Inc. | Reduce -22.7% | 0.31% | −0.07 |
| TSLA Tesla Inc. | Reduce -3.2% | 0.08% | −0.05 |
| FIS Fidelity National Info Serv | Reduce -0.0% | 0.44% | −0.04 |
| AMZN Amazon.com Inc. | Reduce -4.8% | 0.19% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -2.3% | 2.37% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.6% | 0.31% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -13.3% | 0.08% | −0.02 |
| ITOT iShares Core S&P Total U.S. | Reduce -13.6% | 0.08% | −0.02 |
| MDY State Street SPDR S&P Midcap | Reduce -8.2% | 0.08% | −0.02 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.01 |
| TGT Target Corp. | Sold out | 0.00% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -12.3% | 0.11% | −0.01 |
| JMST JPM Ultra-Short Muni Income | Reduce -15.3% | 0.07% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -31.3% | 0.03% | −0.01 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Sold out | 0.00% | −0.01 |
| USB US Bancorp | Reduce -4.3% | 0.06% | −0.01 |
| SCHB Schwab US Broad Market ETF | Reduce -2.9% | 0.11% | −0.01 |
| EMR Emerson Electric Co. | Reduce -14.1% | 0.03% | −0.01 |
| WMT Walmart Inc. | Reduce -4.8% | 0.10% | −0.01 |
| TXNM TXNM Energy Inc. | Sold out | 0.00% | −0.01 |
| DXC DXC Technology Co. | Sold out | 0.00% | −0.01 |
| DGRO iShares Core Dividend Growth | Reduce -44.8% | 0.01% | −0.01 |
| BAC Bank of America Corp. | Reduce -0.6% | 0.11% | −0.01 |
| VTLE Vital Energy Inc. | Sold out | 0.00% | −0.01 |
| RNST Renasant Corp. | Sold out | 0.00% | −0.01 |
| TXN Texas Instruments Inc. | Reduce -19.9% | 0.03% | −0.01 |
| UNP Union Pacific Corp. | Reduce -20.6% | 0.04% | −0.01 |
| DIS The Walt Disney Co. | Reduce -10.9% | 0.03% | −0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.01 |
| SCHG Schwab US Large-Cap Growth | Sold out | 0.00% | −0.01 |
| AIR Aar Corp. | Sold out | 0.00% | −0.01 |
| ALG Alamo Group Inc. | Sold out | 0.00% | −0.01 |
| AUB Atlantic Union Bankshares Co. | Sold out | 0.00% | −0.01 |
| CDP Copt Defense Properties | Sold out | 0.00% | −0.01 |
| SBCF Seacoast Banking Corp. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BA The Boeing Co. | Add +10996.9% | 0.98% | +0.97 |
| SRE Sempra | New | 0.68% | +0.68 |
| KO The Coca-Cola Co. | Add +0.1% | 3.92% | +0.46 |
| ABBV Abbvie Inc. | Add +0.2% | 2.84% | +0.40 |
| ELV Elevance Health Inc. | Add +4.3% | 2.17% | +0.38 |
| DV Doubleverify Holdings Inc. | Add +224.3% | 0.60% | +0.33 |
| MDLZ Mondelez International Inc. Class A | Add +4.5% | 1.95% | +0.28 |
| AZN Astrazeneca PLC-Spons ADR | Add +2.5% | 2.24% | +0.26 |
| UBER Uber Technologies Inc. | Add +15.2% | 0.95% | +0.26 |
| CVX Chevron Corp. | Add +3.0% | 1.64% | +0.24 |
| ROP Roper Technologies Inc. | Add +5.1% | 1.62% | +0.24 |
| DG Dollar General Corp. | Add +52.5% | 0.54% | +0.23 |
| CB Chubb Ltd. | Add +2.3% | 2.27% | +0.21 |
| NOC Northrop Grumman Corp. | Add +2.4% | 2.16% | +0.20 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.19% | +0.19 |
| JNJ Johnson & Johnson | Add +1.4% | 1.43% | +0.18 |
| CTVA Corteva Inc. | Add +1.1% | 1.92% | +0.17 |
| YUM Yum! Brands Inc. | Add +3.8% | 0.98% | +0.16 |
| PSX Phillips 66 | Add +4.8% | 1.35% | +0.14 |
| TSN Tyson Foods Inc. Class A | Add +5.8% | 1.01% | +0.14 |
| VZ Verizon Communications Inc. | Add +15.3% | 0.58% | +0.13 |
| IFF Intl Flavors & Fragrances | Add +24.7% | 0.96% | +0.11 |
| SSNC Ss&c Technologies Holdings | Add +0.3% | 1.13% | +0.09 |
| GE General Electric | Add +1.5% | 0.36% | +0.06 |
| MU Micron Technology Inc. | Add +1.8% | 1.51% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Add +126.2% | 0.07% | +0.05 |
| MQ Marqeta Inc. | Add +8.8% | 0.32% | +0.04 |
| APD Air Products & Chemicals Inc. | Add +5.7% | 0.68% | +0.04 |
| XOM Exxon Mobil Corp. | Add +0.3% | 0.38% | +0.03 |
| EOG EOG Resources Inc. | Add +8.9% | 0.25% | +0.03 |
| COLB Columbia Banking System Inc. | Add +23.0% | 0.16% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +8.1% | 0.35% | +0.02 |
| IBM Intl Business Machines Corp. | Add +0.5% | 0.15% | +0.02 |
| AME Ametek Inc. | Add +8.8% | 0.64% | +0.01 |
| SGOV iShares 0-3 Month Treasury B | New | 0.01% | +0.01 |
| MMSI Merit Medical Systems Inc. | New | 0.01% | +0.01 |
| FCPT Four Corners Property Trust | New | 0.01% | +0.01 |
| DUK Duke Energy Corp. | Add +0.2% | 0.06% | +0.01 |
| PG The Procter & Gamble Co. | Add +0.3% | 0.98% | +0.00 |
| VYM Vanguard High DVD Yield ETF | Add +6.3% | 0.07% | +0.00 |
| GLD SPDR Gold Shares | Add +4.6% | 0.02% | +0.00 |
| GPC Genuine Parts Co. | Add +0.1% | 0.12% | +0.00 |
| D Dominion Energy Inc. | Add +0.2% | 0.01% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +6.7% | 0.21% | +0.00 |
| GVI iShares Intermediate Governm | Add +1.9% | 0.01% | +0.00 |
| IJH iShares Core S&P Midcap ETF | Add +7.8% | 0.03% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +5.6% | 0.02% | −0.00 |
| VRRM Verra Mobility Corp. | Add +2.6% | 0.01% | −0.00 |
| GEV GE Vernova Inc. | Add +7.6% | 0.05% | −0.00 |
| HON Honeywell International Inc. | Add +1.9% | 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 |