ZWJ Investment Counsel Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), ZWJ Investment Counsel Inc. reported 237 stock positions worth $2.8 billion. Its top holding was Alphabet Class C (GOOG) at 5.1% of the portfolio, followed by Micron Technology (MU, 3.9%) and Broadcom (AVGO, 3.6%). Compared with Q3 2025, it opened 12 new positions, sold out of 19, added to 60 and reduced 114. The biggest buy was a new position in Omnicom (OMC) and the biggest sale Fiserv (FISV, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- Atlanta, GA
- CIK
- 0000842782
- Portfolio Value
- $2.8B (Q4 2025)
- SEC Filing
- 0001580642-26-000391 ↗ filed Jan 23, 2026
Holdings Value
Holdings 237 stocks · $2.8B
| GOOG Alphabet Inc. Class C | 5.14% | 454,282 | $142.6M | Reduce -5.8% |
| MU Micron Technology Inc. | 3.95% | 383,320 | $109.4M | Reduce -15.8% |
| AVGO Broadcom Inc. | 3.64% | 291,740 | $101.0M | Reduce -8.3% |
| NVDA Nvidia Corp. | 3.59% | 534,073 | $99.6M | Reduce -6.1% |
| MSFT Microsoft Corp. | 3.47% | 198,977 | $96.2M | Reduce -1.9% |
| KO The Coca-Cola Co. | 3.32% | 1,315,648 | $92.0M | Reduce -0.4% |
| ABBV Abbvie Inc. | 2.76% | 335,340 | $76.6M | Reduce -0.7% |
| ORCL Oracle Corp. | 2.64% | 376,140 | $73.3M | Reduce -4.6% |
| JPM JPMorgan Chase & Co. | 2.58% | 221,716 | $71.4M | Reduce -2.5% |
| BWXT BWX Technologies Inc. | 2.54% | 408,097 | $70.5M | Reduce -2.9% |
| AZN Astrazeneca PLC-Spons ADR | 2.53% | 763,309 | $70.2M | Reduce -1.0% |
| AAPL Apple Inc. | 2.49% | 253,705 | $69.0M | Reduce -2.4% |
| V Visa Inc. Class A | 2.40% | 190,027 | $66.6M | Add +0.8% |
| CSCO Cisco Systems Inc. | 2.39% | 861,733 | $66.4M | Reduce -1.9% |
| CB Chubb Ltd. | 2.14% | 190,358 | $59.4M | Add +0.9% |
| AXP American Express Co. | 2.10% | 157,151 | $58.1M | Reduce -4.8% |
| NOC Northrop Grumman Corp. | 2.01% | 97,536 | $55.6M | Reduce -3.0% |
| BSX Boston Scientific Corp. | 1.96% | 571,011 | $54.4M | Add +1.1% |
| CTVA Corteva Inc. | 1.83% | 758,100 | $50.8M | Add +0.2% |
| TMO Thermo Fisher Scientific Inc. | 1.79% | 85,529 | $49.6M | Add +2.2% |
| PGR Progressive Corp. | 1.73% | 211,047 | $48.1M | Add +7.1% |
| BA The Boeing Co. | 1.66% | 211,608 | $45.9M | Add +1.9% |
| AEP American Electric Power | 1.62% | 389,452 | $44.9M | Add +0.1% |
| JNJ Johnson & Johnson | 1.62% | 216,865 | $44.9M | Add +1.3% |
| INGR Ingredion Inc. | 1.50% | 377,329 | $41.6M | Add +0.6% |
| CVX Chevron Corp. | 1.42% | 258,017 | $39.3M | Reduce -0.5% |
| PSX Phillips 66 | 1.34% | 288,195 | $37.2M | Reduce -0.2% |
| MDLZ Mondelez International Inc. Class A | 1.31% | 672,825 | $36.2M | Reduce -6.3% |
| ELV Elevance Health Inc. | 1.25% | 98,898 | $34.7M | Add +4.1% |
| SAIA Saia Inc. | 1.21% | 102,548 | $33.5M | Reduce -10.9% |
| ROP Roper Technologies Inc. | 1.18% | 73,561 | $32.7M | Add +2.2% |
| SSNC Ss&c Technologies Holdings | 1.16% | 366,394 | $32.0M | Add +0.4% |
| OMC Omnicom Group | 1.08% | 369,492 | $29.8M | New |
| J Jacobs Solutions Inc. | 1.05% | 219,579 | $29.1M | Add +0.4% |
| OUT Outfront Media Inc. | 1.04% | 1,199,223 | $28.9M | Reduce -17.7% |
| UBER Uber Technologies Inc. | 1.04% | 353,686 | $28.9M | Add +2.6% |
| GM General Motors Co. | 1.04% | 353,516 | $28.7M | Reduce -3.2% |
| ACN Accenture PLC Class A | 1.03% | 106,794 | $28.7M | Reduce -9.7% |
| HD Home Depot Inc. | 1.03% | 82,766 | $28.5M | Add +1.6% |
| YUM Yum! Brands Inc. | 1.02% | 187,593 | $28.4M | Add +5.6% |
| SRE Sempra | 1.02% | 321,145 | $28.4M | Add +5.1% |
| T AT&T Inc. | 0.99% | 1,110,195 | $27.6M | Reduce -0.7% |
| TSN Tyson Foods Inc. Class A | 0.90% | 423,654 | $24.8M | Add +0.1% |
| EWBC East West Bancorp Inc. | 0.89% | 219,615 | $24.7M | Reduce -1.1% |
| AME Ametek Inc. | 0.89% | 119,801 | $24.6M | Add +8.9% |
| PG The Procter & Gamble Co. | 0.74% | 142,928 | $20.5M | Reduce -0.7% |
| DG Dollar General Corp. | 0.72% | 149,954 | $19.9M | Add +2.9% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.70% | 289,423 | $19.5M | Reduce -13.4% |
| DV Doubleverify Holdings Inc. | 0.68% | 1,640,121 | $18.8M | Add +16.6% |
| VZ Verizon Communications Inc. | 0.59% | 401,246 | $16.3M | Add +2.4% |
| APD Air Products & Chemicals Inc. | 0.57% | 64,334 | $15.9M | Add +5.8% |
| GE General Electric filed as GE AEROSPACE | 0.47% | 42,277 | $13.0M | Reduce -5.8% |
| GOOGL Alphabet Inc. Class A | 0.40% | 35,441 | $11.1M | Reduce -1.6% |
| ES Eversource Energy | 0.38% | 155,265 | $10.5M | Reduce -12.6% |
| XOM Exxon Mobil Corp. | 0.37% | 84,602 | $10.2M | Reduce -1.6% |
| RSP Invesco S&P 500 Equal Weight | 0.37% | 52,997 | $10.2M | Add +4.4% |
| ZBRA Zebra Technologies Corp. Class A | 0.36% | 41,251 | $10.0M | Add +24.0% |
| MQ Marqeta Inc. | 0.31% | 1,798,541 | $8.5M | Reduce -7.3% |
| COLB Columbia Banking System Inc. | 0.26% | 260,030 | $7.3M | Add +5.3% |
| IOSP Innospec Inc. | 0.26% | 94,535 | $7.2M | Add +110.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.26% | 10,439 | $7.1M | Reduce -20.8% |
| LLY Eli Lilly & Co. | 0.25% | 6,368 | $6.8M | Reduce -2.5% |
| EFX Equifax Inc. | 0.24% | 30,092 | $6.5M | Reduce -83.1% |
| CFG Citizens Financial Group | 0.23% | 111,421 | $6.5M | Add +3.1% |
| ABT Abbott Laboratories | 0.22% | 47,947 | $6.0M | Reduce -1.5% |
| VOO Vanguard S&P 500 ETF | 0.21% | 9,103 | $5.7M | Reduce -4.2% |
| EOG EOG Resources Inc. | 0.20% | 53,722 | $5.6M | Reduce -4.5% |
| AMZN Amazon.com Inc. | 0.20% | 23,466 | $5.4M | Add +11.8% |
| ABNB Airbnb Inc. Class A | 0.18% | 36,515 | $5.0M | New |
| IVV iShares Core S&P 500 ETF | 0.15% | 6,235 | $4.3M | Reduce -1.2% |
| TTE Totalenergies SE | 0.15% | 63,467 | $4.2M | Reduce -17.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 13,635 | $4.0M | Reduce -12.1% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.14% | 75,279 | $3.8M | Add +94.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.14% | 7,541 | $3.8M | Reduce -17.9% |
| META Meta Platforms Inc. Class A | 0.14% | 5,671 | $3.7M | Add +0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.13% | 66,911 | $3.7M | Reduce -1.2% |
| RTX RTX Corp. | 0.13% | 19,158 | $3.5M | Reduce -0.4% |
| TSLA Tesla Inc. | 0.11% | 6,750 | $3.0M | Reduce -3.1% |
| SCHB Schwab US Broad Market ETF | 0.10% | 109,568 | $2.9M | Reduce -1.8% |
| WMT Walmart Inc. | 0.10% | 25,395 | $2.8M | Reduce -0.1% |
| MRK Merck & Co. Inc. | 0.10% | 26,833 | $2.8M | Reduce -9.3% |
| GPC Genuine Parts Co. | 0.10% | 22,876 | $2.8M | Reduce -0.7% |
| TPR Tapestry Inc. | 0.10% | 21,895 | $2.8M | Reduce -8.8% |
| IUSV iShares Core S&P U.S. Value | 0.10% | 26,430 | $2.7M | Add +3.9% |
| WFC Wells Fargo & Co. | 0.10% | 28,246 | $2.6M | Reduce -8.5% |
| IWB iShares Russell 1000 ETF | 0.09% | 6,982 | $2.6M | No change |
| GNRC Generac Holdings Inc. | 0.09% | 18,728 | $2.6M | New |
| AMGN Amgen Inc. | 0.09% | 7,221 | $2.4M | No change |
| MDY State Street SPDR S&P Midcap | 0.08% | 3,753 | $2.3M | Add +4.1% |
| SO The Southern Co. | 0.08% | 25,884 | $2.3M | Add +7.8% |
| CAT Caterpillar Inc. | 0.08% | 3,859 | $2.2M | Reduce -0.8% |
| TFC Truist Financial Corp. | 0.08% | 44,404 | $2.2M | Add +2.6% |
| ADP Automatic Data Processing | 0.08% | 8,332 | $2.1M | Reduce -0.0% |
| ITOT iShares Core S&P Total U.S. | 0.08% | 14,355 | $2.1M | Reduce -3.4% |
| NSC Norfolk Southern Corp. | 0.07% | 6,545 | $1.9M | Reduce -2.2% |
| COST Costco Wholesale Corp. | 0.07% | 2,184 | $1.9M | Reduce -1.9% |
| O Realty Income Corp. | 0.07% | 32,908 | $1.9M | Add +9.2% |
| VYM Vanguard High DVD Yield ETF | 0.07% | 12,910 | $1.9M | No change |
| NEE Nextera Energy Inc. | 0.06% | 21,205 | $1.7M | Reduce -1.2% |
| GS Goldman Sachs Group Inc. | 0.06% | 1,895 | $1.7M | Reduce -1.2% |
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: $2.8B.
Portfolio Sells Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Reduce -94.9% | 0.04% | −1.47 |
| EFX Equifax Inc. | Reduce -83.1% | 0.24% | −1.38 |
| ORCL Oracle Corp. | Reduce -4.6% | 2.64% | −1.27 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −1.10 |
| FIS Fidelity National Info Serv | Reduce -86.3% | 0.05% | −0.29 |
| MDLZ Mondelez International Inc. Class A | Reduce -6.3% | 1.31% | −0.28 |
| MSFT Microsoft Corp. | Reduce -1.9% | 3.47% | −0.24 |
| BWXT BWX Technologies Inc. | Reduce -2.9% | 2.54% | −0.19 |
| NOC Northrop Grumman Corp. | Reduce -3.0% | 2.01% | −0.16 |
| NVDA Nvidia Corp. | Reduce -6.1% | 3.59% | −0.16 |
| T AT&T Inc. | Reduce -0.7% | 0.99% | −0.12 |
| ES Eversource Energy | Reduce -12.6% | 0.38% | −0.07 |
| AVGO Broadcom Inc. | Reduce -8.3% | 3.64% | −0.07 |
| MQ Marqeta Inc. | Reduce -7.3% | 0.31% | −0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -20.8% | 0.26% | −0.05 |
| PSX Phillips 66 | Reduce -0.2% | 1.34% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -0.7% | 0.74% | −0.04 |
| FNF Fidelity National Financial | Sold out | 0.00% | −0.04 |
| LOW Lowe's Cos Inc. | Reduce -51.8% | 0.04% | −0.04 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -79.6% | 0.01% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -17.9% | 0.14% | −0.03 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -68.1% | 0.01% | −0.02 |
| IFF Intl Flavors & Fragrances | Reduce -13.4% | 0.70% | −0.02 |
| AZO AutoZone Inc. | Sold out | 0.00% | −0.02 |
| EOG EOG Resources Inc. | Reduce -4.5% | 0.20% | −0.02 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.02 |
| ABT Abbott Laboratories | Reduce -1.5% | 0.22% | −0.01 |
| WDC Western Digital Corp. | Sold out | 0.00% | −0.01 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.01 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.01 |
| TTE Totalenergies SE | Reduce -17.4% | 0.15% | −0.01 |
| GPC Genuine Parts Co. | Reduce -0.7% | 0.10% | −0.01 |
| SAIA Saia Inc. | Reduce -10.9% | 1.21% | −0.01 |
| CDW CDW Corp. | Sold out | 0.00% | −0.01 |
| DD Dupont DE Nemours Inc. | Reduce -0.7% | 0.01% | −0.01 |
| ADP Automatic Data Processing | Reduce -0.0% | 0.08% | −0.01 |
| IBM Intl Business Machines Corp. | Reduce -12.1% | 0.15% | −0.01 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.01 |
| SCL Stepan Co. | Sold out | 0.00% | −0.01 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −0.01 |
| SM SM Energy Co. | Sold out | 0.00% | −0.01 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.01 |
| CLX Clorox Company | Sold out | 0.00% | −0.01 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.01 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.01 |
| HWKN Hawkins Inc. | Sold out | 0.00% | −0.01 |
| GE General Electric | Reduce -5.8% | 0.47% | −0.01 |
| ALG Alamo Group Inc. | Sold out | 0.00% | −0.01 |
| BCC Boise Cascade Co. | Sold out | 0.00% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -0.1% | 0.05% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| OMC Omnicom Group | New | 1.08% | +1.08 |
| TMO Thermo Fisher Scientific Inc. | Add +2.2% | 1.79% | +0.35 |
| CB Chubb Ltd. | Add +0.9% | 2.14% | +0.26 |
| JNJ Johnson & Johnson | Add +1.3% | 1.62% | +0.22 |
| DG Dollar General Corp. | Add +2.9% | 0.72% | +0.19 |
| ABNB Airbnb Inc. Class A | New | 0.18% | +0.18 |
| ELV Elevance Health Inc. | Add +4.1% | 1.25% | +0.17 |
| AME Ametek Inc. | Add +8.9% | 0.89% | +0.16 |
| IOSP Innospec Inc. | Add +110.9% | 0.26% | +0.14 |
| V Visa Inc. Class A | Add +0.8% | 2.40% | +0.13 |
| GNRC Generac Holdings Inc. | New | 0.09% | +0.09 |
| TSN Tyson Foods Inc. Class A | Add +0.1% | 0.90% | +0.08 |
| DV Doubleverify Holdings Inc. | Add +16.6% | 0.68% | +0.08 |
| BA The Boeing Co. | Add +1.9% | 1.66% | +0.07 |
| AEP American Electric Power | Add +0.1% | 1.62% | +0.07 |
| YUM Yum! Brands Inc. | Add +5.6% | 1.02% | +0.07 |
| JMST JPM Ultra-Short Muni Income | Add +94.7% | 0.14% | +0.07 |
| SRE Sempra | Add +5.1% | 1.02% | +0.05 |
| COLB Columbia Banking System Inc. | Add +5.3% | 0.26% | +0.04 |
| AKRE Akre Focus ETF | New | 0.04% | +0.04 |
| AMZN Amazon.com Inc. | Add +11.8% | 0.20% | +0.03 |
| CFG Citizens Financial Group | Add +3.1% | 0.23% | +0.03 |
| RSP Invesco S&P 500 Equal Weight | Add +4.4% | 0.37% | +0.03 |
| CTVA Corteva Inc. | Add +0.2% | 1.83% | +0.02 |
| BSX Boston Scientific Corp. | Add +1.1% | 1.96% | +0.02 |
| PGR Progressive Corp. | Add +7.1% | 1.73% | +0.01 |
| SGOV iShares 0-3 Month Treasury B | Add +31.1% | 0.05% | +0.01 |
| ZBRA Zebra Technologies Corp. Class A | Add +24.0% | 0.36% | +0.01 |
| EUSA iShares MSCI USA Equal Weigh | Add +71.0% | 0.03% | +0.01 |
| PANW Palo Alto Networks Inc. | New | 0.01% | +0.01 |
| SSNC Ss&c Technologies Holdings | Add +0.4% | 1.16% | +0.01 |
| GLD SPDR Gold Shares | Add +8.1% | 0.05% | +0.01 |
| OSW Onespaworld Holdings Ltd. | New | 0.01% | +0.01 |
| AAEQ Alpha Architct US Eqty 2 ETF | New | 0.01% | +0.01 |
| TFC Truist Financial Corp. | Add +2.6% | 0.08% | +0.01 |
| EFA iShares MSCI Eafe ETF | New | 0.01% | +0.01 |
| FBK FB Financial Corp. | New | 0.01% | +0.01 |
| SXI Standex International Corp. | New | 0.01% | +0.01 |
| IUSV iShares Core S&P U.S. Value | Add +3.9% | 0.10% | +0.01 |
| IJT iShares S&P Small-Cap 600 GR | New | 0.01% | +0.01 |
| TBT Proshares Ultrashort 20+Y TR | New | 0.01% | +0.01 |
| ISRG Intuitive Surgical Inc. | Add +7.8% | 0.02% | +0.01 |
| MDY State Street SPDR S&P Midcap | Add +4.1% | 0.08% | +0.01 |
| IJH iShares Core S&P Midcap ETF | Add +11.1% | 0.03% | +0.00 |
| VGIT Vanguard Intermediate-Term T | Add +14.5% | 0.03% | +0.00 |
| MA Mastercard Inc. Class A | Add +14.6% | 0.03% | +0.00 |
| NFLX Netflix Inc. | Add +67.7% | 0.01% | +0.00 |
| IJR iShares Core S&P Small-Cap E | Add +2.6% | 0.04% | +0.00 |
| O Realty Income Corp. | Add +9.2% | 0.07% | +0.00 |
| VGK Vanguard Ftse Europe ETF | Add +11.5% | 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 |