ZWJ Investment Counsel Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 21, 2025), ZWJ Investment Counsel Inc. reported 240 stock positions worth $2.7 billion. Its top holding was Oracle (ORCL) at 3.9% of the portfolio, followed by Microsoft (MSFT, 3.7%) and Broadcom (AVGO, 3.7%). Compared with Q1 2025, it opened 39 new positions, sold out of 9, added to 73 and reduced 97. The biggest buy was Oracle (ORCL, shares +2%) and the biggest sale Apple (AAPL, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- Atlanta, GA
- CIK
- 0000842782
- Portfolio Value
- $2.7B (Q2 2025)
- SEC Filing
- 0001580642-25-004371 ↗ filed Jul 21, 2025
Holdings Value
Holdings 240 stocks · $2.7B
| ORCL Oracle Corp. | 3.89% | 478,903 | $104.7M | Add +1.7% |
| MSFT Microsoft Corp. | 3.75% | 202,639 | $100.8M | Reduce -0.4% |
| AVGO Broadcom Inc. | 3.67% | 358,065 | $98.7M | Reduce -6.5% |
| NVDA Nvidia Corp. | 3.59% | 610,611 | $96.5M | Add +1.3% |
| KO The Coca-Cola Co. | 3.51% | 1,334,333 | $94.4M | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 3.19% | 483,518 | $85.8M | Add +4.5% |
| BWXT BWX Technologies Inc. | 2.73% | 508,822 | $73.3M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 2.51% | 232,641 | $67.4M | Reduce -2.0% |
| V Visa Inc. Class A | 2.47% | 187,460 | $66.6M | Reduce -0.1% |
| ABBV Abbvie Inc. | 2.30% | 333,987 | $62.0M | Add +0.1% |
| CSCO Cisco Systems Inc. | 2.28% | 883,271 | $61.3M | Reduce -1.5% |
| BSX Boston Scientific Corp. | 2.26% | 565,752 | $60.8M | Reduce -6.3% |
| MU Micron Technology Inc. | 2.14% | 466,667 | $57.5M | Add +9.4% |
| CTVA Corteva Inc. | 2.09% | 756,017 | $56.3M | Add +1.0% |
| CB Chubb Ltd. | 2.01% | 186,903 | $54.1M | Add +1.1% |
| AAPL Apple Inc. | 1.99% | 261,412 | $53.6M | Reduce -3.4% |
| AXP American Express Co. | 1.99% | 167,871 | $53.5M | Reduce -0.4% |
| AZN Astrazeneca PLC-Spons ADR | 1.98% | 763,470 | $53.4M | Add +1.9% |
| NOC Northrop Grumman Corp. | 1.89% | 101,695 | $50.8M | Reduce -1.9% |
| FISV Fiserv Inc. | 1.89% | 294,528 | $50.8M | Add +10.9% |
| INGR Ingredion Inc. | 1.88% | 372,289 | $50.5M | Reduce -0.2% |
| PGR Progressive Corp. | 1.80% | 181,570 | $48.5M | Reduce -2.4% |
| ELV Elevance Health Inc. | 1.79% | 124,131 | $48.3M | Add +1.1% |
| MDLZ Mondelez International Inc. Class A | 1.78% | 711,451 | $48.0M | Add +0.9% |
| BA The Boeing Co. | 1.63% | 208,705 | $43.7M | Add +48.2% |
| AEP American Electric Power | 1.54% | 400,112 | $41.5M | Reduce -7.5% |
| ROP Roper Technologies Inc. | 1.45% | 68,882 | $39.0M | Add +1.9% |
| EFX Equifax Inc. | 1.45% | 150,463 | $39.0M | Reduce 0.0% |
| CVX Chevron Corp. | 1.36% | 255,789 | $36.6M | Add +6.2% |
| PSX Phillips 66 | 1.27% | 285,629 | $34.1M | Add +6.2% |
| TMO Thermo Fisher Scientific Inc. | 1.24% | 82,548 | $33.5M | Add +6.1% |
| T AT&T Inc. | 1.24% | 1,152,066 | $33.3M | Reduce -8.9% |
| JNJ Johnson & Johnson | 1.21% | 213,219 | $32.6M | Add +0.7% |
| SAIA Saia Inc. | 1.21% | 118,420 | $32.4M | Add +87.1% |
| UBER Uber Technologies Inc. | 1.19% | 343,662 | $32.1M | Add +6.8% |
| ACN Accenture PLC Class A | 1.16% | 104,148 | $31.1M | Add +18.4% |
| HD Home Depot Inc. | 1.14% | 83,827 | $30.7M | Reduce -7.0% |
| J Jacobs Solutions Inc. | 1.12% | 228,791 | $30.1M | Reduce -4.0% |
| SSNC Ss&c Technologies Holdings | 1.09% | 353,953 | $29.3M | Add +6.8% |
| IPG Interpublic Group of Cos Inc. | 1.03% | 1,126,441 | $27.6M | Add +2.8% |
| YUM Yum! Brands Inc. | 0.90% | 163,530 | $24.2M | Add +6.4% |
| OUT Outfront Media Inc. | 0.90% | 1,477,099 | $24.1M | Add +2.4% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.88% | 320,414 | $23.6M | Add +5.0% |
| PG The Procter & Gamble Co. | 0.85% | 143,524 | $22.9M | Add +1.4% |
| EWBC East West Bancorp Inc. | 0.84% | 223,627 | $22.6M | Add +5.0% |
| TSN Tyson Foods Inc. Class A | 0.84% | 403,009 | $22.5M | Add +3.4% |
| SRE Sempra | 0.81% | 288,191 | $21.8M | Add +22.3% |
| AME Ametek Inc. | 0.70% | 104,330 | $18.9M | Add +14.9% |
| GM General Motors Co. | 0.67% | 365,974 | $18.0M | Reduce -3.2% |
| APD Air Products & Chemicals Inc. | 0.62% | 59,100 | $16.7M | Add +4.9% |
| DV Doubleverify Holdings Inc. | 0.62% | 1,112,908 | $16.7M | Add +0.4% |
| DG Dollar General Corp. | 0.62% | 145,479 | $16.6M | Reduce -3.9% |
| VZ Verizon Communications Inc. | 0.54% | 337,771 | $14.6M | Add +7.0% |
| FIS Fidelity National Info Serv | 0.44% | 144,279 | $11.7M | Reduce -0.7% |
| ES Eversource Energy | 0.43% | 183,893 | $11.7M | Reduce -3.8% |
| GE General Electric filed as GE AEROSPACE | 0.43% | 44,832 | $11.5M | Add +2.2% |
| MQ Marqeta Inc. | 0.43% | 1,964,579 | $11.5M | Add +4.5% |
| ZBRA Zebra Technologies Corp. Class A | 0.39% | 34,039 | $10.5M | Add +33.9% |
| RSP Invesco S&P 500 Equal Weight | 0.35% | 51,508 | $9.4M | Add +4.3% |
| TPR Tapestry Inc. | 0.32% | 97,938 | $8.6M | Reduce -9.8% |
| XOM Exxon Mobil Corp. | 0.32% | 78,707 | $8.5M | Add +1.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.31% | 13,594 | $8.4M | Reduce -0.0% |
| EOG EOG Resources Inc. | 0.24% | 54,619 | $6.5M | Add +11.8% |
| ABT Abbott Laboratories | 0.24% | 47,488 | $6.5M | Reduce -0.8% |
| GOOGL Alphabet Inc. Class A | 0.23% | 35,533 | $6.3M | Reduce -1.3% |
| VOO Vanguard S&P 500 ETF | 0.21% | 9,916 | $5.6M | Reduce -1.6% |
| COLB Columbia Banking System Inc. | 0.19% | 220,670 | $5.2M | Add +35.8% |
| TTE Totalenergies SE -Spon ADR | 0.19% | 81,142 | $5.0M | Reduce -5.2% |
| LLY Eli Lilly & Co. | 0.18% | 6,347 | $4.9M | Reduce -0.7% |
| CFG Citizens Financial Group | 0.18% | 108,219 | $4.8M | Add +7.0% |
| AMZN Amazon.com Inc. | 0.18% | 21,694 | $4.8M | Reduce -9.6% |
| META Meta Platforms Inc. Class A | 0.18% | 6,432 | $4.7M | Add +2.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.17% | 15,423 | $4.5M | Add +2.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.16% | 6 | $4.4M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.14% | 7,765 | $3.8M | Reduce -0.0% |
| IVV iShares Core S&P 500 ETF | 0.14% | 5,921 | $3.7M | Reduce -9.2% |
| IOSP Innospec Inc. | 0.12% | 39,420 | $3.3M | Reduce -14.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.12% | 67,335 | $3.2M | Reduce -0.3% |
| SCHB Schwab US Broad Market ETF | 0.11% | 120,033 | $2.9M | Reduce -3.7% |
| RTX RTX Corp. | 0.10% | 19,242 | $2.8M | Reduce -3.8% |
| GPC Genuine Parts Co. | 0.10% | 23,068 | $2.8M | Reduce -3.8% |
| ADP Automatic Data Processing | 0.10% | 8,428 | $2.6M | Reduce -0.8% |
| WMT Walmart Inc. | 0.09% | 25,283 | $2.5M | Reduce -5.5% |
| WFC Wells Fargo & Co. | 0.09% | 30,781 | $2.5M | Reduce -6.7% |
| MRK Merck & Co. Inc. | 0.09% | 30,463 | $2.4M | Reduce -14.3% |
| IUSV iShares Core S&P U.S. Value | 0.09% | 25,242 | $2.4M | Add +1.3% |
| IWB iShares Russell 1000 ETF | 0.09% | 6,982 | $2.4M | No change |
| TSLA Tesla Inc. | 0.09% | 7,208 | $2.3M | Reduce -3.7% |
| SO The Southern Co. | 0.08% | 24,442 | $2.2M | Add +5.8% |
| COST Costco Wholesale Corp. | 0.08% | 2,240 | $2.2M | Reduce -19.7% |
| MDY State Street SPDR S&P Midcap | 0.08% | 3,713 | $2.1M | Reduce -3.7% |
| AMGN Amgen Inc. | 0.08% | 7,456 | $2.1M | Reduce -0.3% |
| ITOT iShares Core S&P Total U.S. | 0.07% | 14,941 | $2.0M | Reduce -6.5% |
| LOW Lowe's Cos Inc. | 0.07% | 8,485 | $1.9M | Add +0.3% |
| TFC Truist Financial Corp. | 0.07% | 43,299 | $1.9M | Reduce -4.8% |
| VYM Vanguard High DVD Yield ETF | 0.06% | 13,050 | $1.7M | Reduce -6.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.06% | 3,777 | $1.7M | Add +0.3% |
| O Realty Income Corp. | 0.06% | 29,054 | $1.7M | Add +0.9% |
| NSC Norfolk Southern Corp. | 0.06% | 6,214 | $1.6M | Reduce -22.5% |
| MMM 3M Co. | 0.06% | 10,436 | $1.6M | Add +3.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $15K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 10,000 | $15K | No change |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -3.4% | 1.99% | −0.45 |
| KO The Coca-Cola Co. | Reduce -0.9% | 3.51% | −0.41 |
| AEP American Electric Power | Reduce -7.5% | 1.54% | −0.38 |
| PGR Progressive Corp. | Reduce -2.4% | 1.80% | −0.34 |
| NOC Northrop Grumman Corp. | Reduce -1.9% | 1.89% | −0.27 |
| MGPI MGP Ingredients Inc. | Sold out | 0.00% | −0.26 |
| BSX Boston Scientific Corp. | Reduce -6.3% | 2.26% | −0.22 |
| T AT&T Inc. | Reduce -8.9% | 1.24% | −0.22 |
| HD Home Depot Inc. | Reduce -7.0% | 1.14% | −0.20 |
| V Visa Inc. Class A | Reduce -0.1% | 2.47% | −0.20 |
| INGR Ingredion Inc. | Reduce -0.2% | 1.88% | −0.17 |
| IOSP Innospec Inc. | Reduce -14.9% | 0.12% | −0.06 |
| J Jacobs Solutions Inc. | Reduce -4.0% | 1.12% | −0.05 |
| GM General Motors Co. | Reduce -3.2% | 0.67% | −0.05 |
| USB US Bancorp | Reduce -84.1% | 0.01% | −0.05 |
| ES Eversource Energy | Reduce -3.8% | 0.43% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -14.3% | 0.09% | −0.04 |
| TTE Totalenergies SE -Spon ADR | Reduce -5.2% | 0.19% | −0.04 |
| EFX Equifax Inc. | Reduce 0.0% | 1.45% | −0.04 |
| PEP Pepsico Inc. | Reduce -35.9% | 0.04% | −0.04 |
| LLY Eli Lilly & Co. | Reduce -0.7% | 0.18% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.0% | 0.14% | −0.03 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -19.7% | 0.08% | −0.02 |
| JMST JPM Ultra-Short Muni Income | Reduce -24.6% | 0.05% | −0.02 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.02 |
| ABT Abbott Laboratories | Reduce -0.8% | 0.24% | −0.02 |
| NSC Norfolk Southern Corp. | Reduce -22.5% | 0.06% | −0.02 |
| MCD McDonald's Corp. | Reduce -21.7% | 0.04% | −0.02 |
| AMGN Amgen Inc. | Reduce -0.3% | 0.08% | −0.02 |
| BMY Bristol-Myers Squibb Co. | Reduce -7.1% | 0.03% | −0.02 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.02 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.01 |
| PM Philip Morris International | Reduce -41.4% | 0.02% | −0.01 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -9.2% | 0.14% | −0.01 |
| GPC Genuine Parts Co. | Reduce -3.8% | 0.10% | −0.01 |
| DGRO iShares Core Dividend Growth | Sold out | 0.00% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -4.9% | 0.06% | −0.01 |
| ADP Automatic Data Processing | Reduce -0.8% | 0.10% | −0.01 |
| AMZN Amazon.com Inc. | Reduce -9.6% | 0.18% | −0.01 |
| VYM Vanguard High DVD Yield ETF | Reduce -6.0% | 0.06% | −0.01 |
| DUK Duke Energy Corp. | Reduce -0.7% | 0.06% | −0.01 |
| COP Conocophillips | Reduce -4.5% | 0.02% | −0.01 |
| TFC Truist Financial Corp. | Reduce -4.8% | 0.07% | −0.01 |
| GPN Global Payments Inc. | Reduce -3.9% | 0.02% | −0.01 |
| MO Altria Group Inc. | Reduce -38.4% | 0.01% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -9.5% | 0.04% | −0.01 |
| FDX FedEx Corp. | Reduce -30.9% | 0.01% | −0.01 |
| FHN First Horizon Corp. | Reduce -26.1% | 0.02% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| ORCL Oracle Corp. | Add +1.7% | 3.89% | +1.21 |
| NVDA Nvidia Corp. | Add +1.3% | 3.59% | +0.93 |
| BWXT BWX Technologies Inc. | Add +0.5% | 2.73% | +0.69 |
| BA The Boeing Co. | Add +48.2% | 1.63% | +0.65 |
| MU Micron Technology Inc. | Add +9.4% | 2.14% | +0.63 |
| SAIA Saia Inc. | Add +87.1% | 1.21% | +0.31 |
| GOOG Alphabet Inc. Class C | Add +4.5% | 3.19% | +0.25 |
| UBER Uber Technologies Inc. | Add +6.8% | 1.19% | +0.24 |
| CTVA Corteva Inc. | Add +1.0% | 2.09% | +0.18 |
| SRE Sempra | Add +22.3% | 0.81% | +0.13 |
| MQ Marqeta Inc. | Add +4.5% | 0.43% | +0.11 |
| ZBRA Zebra Technologies Corp. Class A | Add +33.9% | 0.39% | +0.10 |
| GE General Electric | Add +2.2% | 0.43% | +0.07 |
| AME Ametek Inc. | Add +14.9% | 0.70% | +0.07 |
| EWBC East West Bancorp Inc. | Add +5.0% | 0.84% | +0.06 |
| ACN Accenture PLC Class A | Add +18.4% | 1.16% | +0.04 |
| META Meta Platforms Inc. Class A | Add +2.0% | 0.18% | +0.03 |
| COLB Columbia Banking System Inc. | Add +35.8% | 0.19% | +0.03 |
| SGOV iShares 0-3 Month Treasury B | Add +172.9% | 0.03% | +0.02 |
| IBM Intl Business Machines Corp. | Add +2.3% | 0.17% | +0.02 |
| DV Doubleverify Holdings Inc. | Add +0.4% | 0.62% | +0.02 |
| EUSA iShares MSCI USA Equal Weigh | New | 0.01% | +0.01 |
| CFG Citizens Financial Group | Add +7.0% | 0.18% | +0.01 |
| ALG Alamo Group Inc. | New | 0.01% | +0.01 |
| GLD SPDR Gold Shares | Add +53.3% | 0.03% | +0.01 |
| RMBS Rambus Inc. | New | 0.01% | +0.01 |
| BLBD Blue Bird Corp. | New | 0.01% | +0.01 |
| AUB Atlantic Union Bankshares Co. | New | 0.01% | +0.01 |
| GMS GMS Inc. | New | 0.01% | +0.01 |
| PIPR Piper Sandler Cos | New | 0.01% | +0.01 |
| BWIN Baldwin Insurance Group Inc./ | New | 0.01% | +0.01 |
| YETI Yeti Holdings Inc. | New | 0.01% | +0.01 |
| CCS Century Communities Inc. | New | 0.01% | +0.01 |
| ECG Everus Construction Group | New | 0.01% | +0.01 |
| SBCF Seacoast Banking Corp. | New | 0.01% | +0.01 |
| FBNC First Bancorp | New | 0.01% | +0.01 |
| GWRE Guidewire Software Inc. | New | 0.01% | +0.01 |
| AVA Avista Corp. | New | 0.01% | +0.01 |
| BL Blackline Inc. | New | 0.01% | +0.01 |
| CDP Copt Defense Properties | New | 0.01% | +0.01 |
| NOG Northern Oil and Gas Inc. | New | 0.01% | +0.01 |
| RNST Renasant Corp. | New | 0.01% | +0.01 |
| BCC Boise Cascade Co. | New | 0.01% | +0.01 |
| SM SM Energy Co. | New | 0.01% | +0.01 |
| SXT Sensient Technologies Corp. | New | 0.01% | +0.01 |
| AIR Aar Corp. | New | 0.01% | +0.01 |
| ASO Academy Sports & Outdoors Inc. | New | 0.01% | +0.01 |
| RSPT Invesco S&P 500 Equal Weight | New | 0.01% | +0.01 |
| SCHG Schwab US Large-Cap Growth | New | 0.01% | +0.01 |
| XLY SS Consumer Disc Select Sect | New | 0.01% | +0.01 |
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 |