Carnegie Investment Counsel

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CIK 1511506

13F portfolio (2026-Q1)

$5.1B

Positions

559

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

559

Top 5

14.2%

Top 10

23.5%

Effective N

98.9

HHI

0.010

This quarter

35 new · 0 exit →

By sector

Information Technology20.2%

Unclassified18.8%

Financials16.1%

Consumer Discretionary10.8%

Industrials10.1%

Communication Services7.6%

Health Care6.7%

Utilities3.2%

Other6.5%

By market cap

Large ($10–200B)39.4%

Mega (>$200B)38.0%

Unknown19.9%

Mid ($2–10B)2.6%

Small ($300M–2B)0.0%

Micro (<$300M)0.0%

By region

North America80.7%

Other18.8%

Europe0.2%

Latin America0.2%

Asia-Pacific0.1%

Middle East0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	20.58%	201
Specialty Retail	8.99%	19
Software & IT Services	7.14%	10
Semiconductors & Semiconductor Equipment	6.61%	18
Technology Hardware & Equipment	5.42%	19
Software	4.90%	14
Commercial Services & Supplies	4.41%	17
Pharmaceuticals & Biotechnology	4.30%	18
Banks	4.26%	23
Capital Markets	4.08%	16
Insurance	3.39%	15
Machinery	3.36%	16
Utilities	3.21%	25
Aerospace & Defense	2.76%	12
Chemicals	1.98%	14
Health Care Equipment & Supplies	1.88%	10
Electrical Equipment & Components	1.56%	5
Road & Rail	1.55%	6
Equity Real Estate Investment Trusts (REITs)	1.41%	14
Oil, Gas & Consumable Fuels	1.37%	16
Diversified Telecommunication Services	0.99%	3
Communications Equipment	0.93%	2
Distributors	0.86%	9
Beverages	0.57%	4
Hotels, Restaurants & Leisure	0.53%	5
Tobacco	0.41%	2
Airlines	0.40%	2
Metals & Mining	0.31%	9
Food Products	0.30%	5
Life Sciences Tools & Services	0.29%	1
Textiles, Apparel & Luxury Goods	0.28%	1
Health Care Providers & Services	0.23%	2
Automobiles & Components	0.16%	6
Media & Entertainment	0.15%	4
Paper & Forest Products	0.09%	2
Food & Staples Retailing	0.08%	3
Construction & Engineering	0.07%	3
Marine	0.05%	1
Professional Services	0.04%	1
Entertainment	0.04%	2
Industrial Conglomerates	0.03%	1
Transportation Infrastructure	0.02%	2
Real Estate Management & Development	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	GOOGL	Alphabet Inc.	Communication Services	3.32%
2	AAPL	Apple Inc.	Information Technology	3.29%
3	MSFT	MICROSOFT CORP	Information Technology	3.05%
4	JPM	JPMORGAN CHASE & CO	Financials	2.36%
5	NVDA	NVIDIA CORP	Information Technology	2.22%
6	AVGO	Broadcom Inc.	Information Technology	2.15%
7	AMZN	AMAZON COM INC	Consumer Discretionary	1.97%
8	BRK.B	BERKSHIRE HATHAWAY INC	Financials	1.82%
9	META	Meta Platforms, Inc.	Communication Services	1.78%
10	SYK	STRYKER CORP	Health Care	1.52%

359/559 names classified · sector 81.2% of weight · industry 79.4% · mkt cap 80.1%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 52 quarters

Information TechnologyAAPL, MSFT, NVDA, IBM, AVGO · other

FinancialsMA, JPM, BRK.B, PYPL, PGR · other

IndustrialsNOC, ETN, CSX, BA, WM · other

Health CareJNJ, ZTS, SYK, NVO, ABBV · other

Consumer DiscretionaryAMZN, SHW, LOW, MCK, MCD · other

Communication ServicesGOOGL, GOOG, META, DIS, VZ · other

MaterialsNKE, PG, ECL, CHD, RPM · other

Consumer StaplesPEP, MKC, PM, MZTI, KHC · other

EnergyXOM, CVX, SLB, PSX, OXY · other

Real EstateAMT, O, WPC, VNO, PSA · other

UtilitiesNEE, KMI, EPD, SO, LNT · other

UnclassifiedSPY, INVESCO EXCH TRD SLF IDX FD, VTI, CLAYMORE EXCHANGE TRD FD TR, DOWDUPONT INC · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 81.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (310 classified)Carnegie Investment Counsel centroid (Large Core)

Information TechnologyFinancialsConsumer DiscretionaryIndustrialsCommunication ServicesHealth CareUtilitiesMaterialsConsumer StaplesEnergyReal Estate

Style box summary for Carnegie Investment Counsel: centroid Large Core. Heaviest cells: Large Growth 32.2%, Large Core 16.1%, Large Value 12.4%.

Classified: 76.2% of book weight (310/559 names) · unclassified 23.8%: BRK.B, SPTI, XLK, IQLT, SPIB, SPY, SPYM, VGSH, NET, MBB +239 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 559 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	GOOGLALPHABET INC	602,258	$171M	3.3%	TRIM −4%
2	AAPLAPPLE INC	664,385	$169M	3.3%	TRIM −3%
3	MSFTMICROSOFT CORP	428,997	$157M	3.1%	ADD 3%
4	JPMJPMORGAN CHASE & CO	420,798	$121M	2.4%	HOLD
5	NVDANVIDIA CORPORATION	652,679	$114M	2.2%	TRIM −7%
6	AVGOBROADCOM INC	363,459	$111M	2.2%	ADD 3%
7	AMZNAMAZON COM INC	484,699	$101M	2.0%	HOLD
8	BRK.BBERKSHIRE HATHAWAY INC DEL	198,153	$93M	1.8%	ADD 3%
9	METAMETA PLATFORMS INC	163,666	$91M	1.8%	HOLD
10	SYKSTRYKER CORPORATION	242,981	$78M	1.5%	ADD 10%
11	SCHWSCHWAB CHARLES CORP	843,977	$77M	1.5%	ADD 5%
12	MAMASTERCARD INCORPORATED	143,477	$69M	1.4%	HOLD
13	ETNEATON CORP PLC	192,112	$69M	1.3%	HOLD
14	GOOGALPHABET INC	231,232	$66M	1.3%	HOLD
15	AMATAPPLIED MATLS INC	165,653	$57M	1.1%	TRIM −15%
16	PGRPROGRESSIVE CORP	285,104	$57M	1.1%	HOLD
17	VVISA INC	183,717	$56M	1.1%	HOLD
18	SPTISPDR SERIES TRUST	1,846,575	$53M	1.0%	ADD 2%
19	CBCHUBB LIMITED	160,792	$51M	1.0%	ADD 3%
20	SHWSHERWIN WILLIAMS CO	153,010	$49M	1.0%	TRIM −3%
21	HDHOME DEPOT INC	154,265	$49M	0.9%	ADD 42%
22	XLKSELECT SECTOR SPDR TR	351,722	$47M	0.9%	TRIM −5%
23	QCOMQUALCOMM INC	369,203	$46M	0.9%	HOLD
24	CMECME GROUP INC	162,478	$46M	0.9%	ADD 3%
25	IQLTISHARES TR	947,863	$44M	0.9%	ADD 14%
26	LNTALLIANT ENERGY CORP	638,323	$44M	0.9%	ADD 4%
27	ORLYOREILLY AUTOMOTIVE INC	492,898	$44M	0.8%	ADD 6%
28	UBERUBER TECHNOLOGIES INC	587,273	$42M	0.8%	HOLD
29	NEENEXTERA ENERGY INC	450,895	$42M	0.8%	HOLD
30	VZVERIZON COMMUNICATIONS INC	840,198	$40M	0.8%	ADD 4%
31	BLKBLACKROCK INC	43,230	$40M	0.8%	ADD 6%
32	RTXRTX CORPORATION	216,249	$39M	0.8%	TRIM −8%
33	ZTSZOETIS INC	333,786	$38M	0.7%	ADD 10%
34	SPIBSPDR SERIES TRUST	1,128,455	$38M	0.7%	HOLD
35	AMGNAMGEN INC	107,264	$38M	0.7%	HOLD
36	ABBVABBVIE INC	182,001	$38M	0.7%	ADD 11%
37	CASYCASEYS GEN STORES INC	50,632	$37M	0.7%	HOLD
38	LOWLOWES COS INC	153,613	$36M	0.7%	TRIM −3%
39	COSTCOSTCO WHSL CORP NEW	35,842	$36M	0.7%	TRIM −2%
40	ECLECOLAB INC	133,778	$36M	0.7%	TRIM −3%
41	SPYSTATE STR SPDR S&P 500 ETF T	54,404	$35M	0.7%	TRIM −24%
42	NOCNORTHROP GRUMMAN CORP	50,765	$35M	0.7%	TRIM −8%
43	NSCNORFOLK SOUTHN CORP	125,768	$34M	0.7%	ADD 6%
44	ABTABBOTT LABS	339,644	$33M	0.7%	ADD 7%
45	CVXCHEVRON CORP NEW	158,625	$33M	0.6%	HOLD
46	SPYMSPDR SERIES TRUST	402,922	$31M	0.6%	TRIM −2%
47	VGSHVANGUARD SHORT-TERM TREASURY ETF	526,441	$31M	0.6%	TRIM −3%
48	JNJJOHNSON & JOHNSON	125,643	$31M	0.6%	TRIM −22%
49	DECKDECKERS OUTDOOR CORP	323,249	$30M	0.6%	NEW
50	TJXTJX COS INC NEW	189,621	$30M	0.6%	TRIM −7%
51	ULTAULTA BEAUTY INC	60,572	$30M	0.6%	TRIM −5%
52	DCIDONALDSON INC	363,710	$30M	0.6%	ADD 3%
53	BACBANK AMERICA CORP	625,930	$29M	0.6%	ADD 14%
54	PSAPUBLIC STORAGE OPER CO	111,899	$29M	0.6%	ADD 6%
55	NETCLOUDFLARE INC	132,907	$27M	0.5%	HOLD
56	KMIKINDER MORGAN INC DEL	814,103	$27M	0.5%	HOLD
57	UNHUNITEDHEALTH GROUP INC	104,832	$27M	0.5%	TRIM −3%
58	KRMNKARMAN HLDGS INC	333,030	$27M	0.5%	TRIM −3%
59	GEVGE VERNOVA INC	29,725	$26M	0.5%	TRIM −2%
60	WMTWALMART INC	205,589	$26M	0.5%	TRIM −5%
61	RDDTREDDIT INC	182,197	$25M	0.5%	ADD 10%
62	MBBISHARES TR	256,676	$24M	0.5%	HOLD
63	CSCOCISCO SYS INC	304,396	$24M	0.5%	HOLD
64	CSXCSX CORP	534,093	$22M	0.4%	HOLD
65	TELTE CONNECTIVITY PLC	104,408	$22M	0.4%	HOLD
66	KNSLKINSALE CAP GROUP INC	62,897	$21M	0.4%	HOLD
67	UNPUNION PAC CORP	87,513	$21M	0.4%	TRIM −4%
68	SOSOUTHERN CO	213,528	$21M	0.4%	HOLD
69	TMOTHERMO FISHER SCIENTIFIC INC	41,877	$21M	0.4%	TRIM −12%
70	VIGVANGUARD SPECIALIZED FUNDS	95,201	$20M	0.4%	TRIM −8%
71	VOOVANGUARD INDEX FDS	34,111	$20M	0.4%	TRIM −3%
72	SUBISHARES TR	190,620	$20M	0.4%	TRIM −3%
73	PACGrupo Aeroportuario del Pacifico ADR	81,092	$20M	0.4%	HOLD
74	POWLPOWELL INDS INC	36,376	$20M	0.4%	TRIM −11%
75	IBTGISHARES TR	842,147	$19M	0.4%	TRIM −4%
76	ANETARISTA NETWORKS INC	153,613	$19M	0.4%	TRIM −12%
77	ROKROCKWELL AUTOMATION INC	52,539	$19M	0.4%	TRIM −5%
78	TWTRADEWEB MKTS INC	158,914	$19M	0.4%	TRIM −7%
79	LECOLINCOLN ELEC HLDGS INC	74,643	$19M	0.4%	TRIM −7%
80	VOVANGUARD INDEX FDS	64,366	$18M	0.4%	ADD 23%
81	IGVISHARES TR	228,028	$18M	0.4%	ADD 1141%
82	OTISOTIS WORLDWIDE CORP	233,574	$18M	0.4%	TRIM −3%
83	PMPHILIP MORRIS INTL INC	106,992	$18M	0.3%	ADD 4%
84	KOCOCA COLA CO	229,860	$17M	0.3%	HOLD
85	VTEBVANGUARD MUN BD FDS	349,658	$17M	0.3%	TRIM −3%
86	SCHPSCHWAB STRATEGIC TR	636,178	$17M	0.3%	HOLD
87	PLTRPALANTIR TECHNOLOGIES INC	114,551	$17M	0.3%	HOLD
88	IBTHISHARES TR	734,551	$16M	0.3%	ADD 21%
89	XLISELECT SECTOR SPDR TR	100,637	$16M	0.3%	HOLD
90	SHOPSHOPIFY INC	135,824	$16M	0.3%	ADD 16%
91	CRWDCROWDSTRIKE HLDGS INC	40,684	$16M	0.3%	ADD 70%
92	EMREMERSON ELEC CO	117,867	$15M	0.3%	TRIM −7%
93	MCDMCDONALDS CORP	49,159	$15M	0.3%	TRIM −3%
94	XLFSELECT SECTOR SPDR TR	306,654	$15M	0.3%	HOLD
95	AMTAMERICAN TOWER CORP	87,256	$15M	0.3%	TRIM −25%
96	MTDMETTLER TOLEDO INTERNATIONAL	11,822	$15M	0.3%	HOLD
97	VTIPVANGUARD MALVERN FDS	294,968	$15M	0.3%	HOLD
98	XOMEXXON MOBIL CORP	86,234	$15M	0.3%	TRIM −5%
99	WPCW. P. Carey Inc.	215,152	$15M	0.3%	ADD 4%
100	LMTLOCKHEED MARTIN CORP	24,009	$15M	0.3%	TRIM −22%
101	POSTPOST HLDGS INC	145,887	$14M	0.3%	TRIM −4%
102	DEDEERE & CO	25,470	$14M	0.3%	TRIM −4%
103	SCHDSCHWAB STRATEGIC TR	462,359	$14M	0.3%	HOLD
104	CTASCINTAS CORP	83,685	$14M	0.3%	ADD 3%
105	SRESEMPRA	167,391	$14M	0.3%	ADD 15%
106	CRDOCREDO TECHNOLOGY GROUP HOLDI	149,722	$14M	0.3%	TRIM −38%
107	OEFISHARES TR	41,816	$13M	0.3%	ADD 3%
108	SPSMSPDR SERIES TRUST	273,617	$13M	0.3%	HOLD
109	HIIHUNTINGTON INGALLS INDS INC	39,434	$13M	0.3%	TRIM −23%
110	RSGREPUBLIC SVCS INC	59,826	$13M	0.3%	TRIM −7%
111	SPYGSPDR SERIES TRUST STATE STREET SPD	133,082	$13M	0.3%	ADD 10%
112	CHDCHURCH & DWIGHT CO INC	135,307	$13M	0.2%	HOLD
113	STESTERIS PLC	56,872	$13M	0.2%	ADD 6%
114	VTIVANGUARD INDEX FDS	37,001	$12M	0.2%	HOLD
115	MDYSPDR S&P MIDCAP 400 ETF TR	19,010	$12M	0.2%	TRIM −2%
116	PEPPEPSICO INC	73,184	$11M	0.2%	TRIM −3%
117	GRALGRAIL INC	217,100	$11M	0.2%	HOLD
118	XLVSELECT SECTOR SPDR TR	76,080	$11M	0.2%	TRIM −6%
119	CMICUMMINS INC	20,605	$11M	0.2%	HOLD
120	QQQINVESCO QQQ TR	19,055	$11M	0.2%	TRIM −4%
121	COINCOINBASE GLOBAL INC	62,365	$11M	0.2%	ADD 616%
122	LLYELI LILLY & CO	11,755	$11M	0.2%	HOLD
123	WSOWATSCO INC	29,712	$11M	0.2%	ADD 6%
124	BRK.ABERKSHIRE HATHAWAY INC DEL	15	$11M	0.2%	HOLD
125	RSPINVESCO EXCHANGE TRADED FD T	55,626	$11M	0.2%	TRIM −8%
126	WINGWINGSTOP INC	68,489	$11M	0.2%	ADD 32%
127	TSCOTRACTOR SUPPLY CO	263,179	$10M	0.2%	ADD 14%
128	WMWASTE MGMT INC DEL	44,816	$10M	0.2%	HOLD
129	IVVISHARES TR	15,745	$10M	0.2%	HOLD
130	MRKMERCK & CO INC	85,461	$10M	0.2%	HOLD
131	URIUNITED RENTALS INC	13,284	$10M	0.2%	HOLD
132	XLCSELECT SECTOR SPDR TR	86,303	$10M	0.2%	HOLD
133	TMUST-MOBILE US INC	45,410	$10M	0.2%	TRIM −22%
134	PGPROCTER AND GAMBLE CO	64,822	$9M	0.2%	TRIM −8%
135	NUNU HLDGS LTD	648,477	$9M	0.2%	ADD 7%
136	GLWCORNING INC	67,886	$9M	0.2%	ADD 6%
137	PFFDGLOBAL X FDS	497,028	$9M	0.2%	ADD 26%
138	HBANHUNTINGTON BANCSHARES INC	580,541	$9M	0.2%	ADD 6%
139	AKAMAKAMAI TECHNOLOGIES INC	78,353	$9M	0.2%	ADD 6%
140	XLYSELECT SECTOR SPDR TR	78,624	$9M	0.2%	TRIM −2%
141	HOODROBINHOOD MKTS INC	123,225	$9M	0.2%	ADD 6386%
142	SGOVISHARES TR	84,625	$9M	0.2%	ADD 3%
143	IBMINTERNATIONAL BUSINESS MACHS	34,840	$8M	0.2%	TRIM −2%
144	SCHBSCHWAB STRATEGIC TR	335,409	$8M	0.2%	ADD 3%
145	ALABASTERA LABS INC	76,119	$8M	0.2%	ADD 26%
146	MRSHMARSH & MCLENNAN COS INC	46,917	$8M	0.2%	TRIM −27%
147	PYPLPAYPAL HLDGS INC	174,899	$8M	0.2%	ADD 186%
148	SPMDSPDR SERIES TRUST	132,763	$8M	0.2%	HOLD
149	MPCMARATHON PETE CORP	31,966	$8M	0.2%	TRIM −6%
150	ORCLORACLE CORP	50,126	$7M	0.1%	ADD 26%
151	QQNITY ELECTRONICS INC	61,777	$7M	0.1%	ADD 1722%
152	BSCSINVESCO EXCH TRD SLF IDX FD	343,290	$7M	0.1%	ADD 12%
153	AMDADVANCED MICRO DEVICES INC	34,407	$7M	0.1%	TRIM −11%
154	CRCLCIRCLE INTERNET GROUP INC	72,670	$7M	0.1%	ADD 8%
155	QQQMINVESCO EXCH TRADED FD TR II	29,130	$7M	0.1%	TRIM −6%
156	SNPSSYNOPSYS INC	17,355	$7M	0.1%	ADD 6%
157	DELLDELL TECHNOLOGIES INC	41,171	$7M	0.1%	TRIM −8%
158	BSCRINVESCO EXCH TRD SLF IDX FD	343,489	$7M	0.1%	ADD 4%
159	ARCCARES CAPITAL CORP	365,723	$7M	0.1%	TRIM −11%
160	NVONOVO-NORDISK A S	178,029	$7M	0.1%	TRIM −27%
161	OREALTY INCOME CORP	104,488	$6M	0.1%	ADD 6%
162	XBISPDR SERIES TRUST	49,897	$6M	0.1%	HOLD
163	TSLATESLA INC	16,629	$6M	0.1%	ADD 2%
164	KRESPDR SERIES TRUST	94,476	$6M	0.1%	HOLD
165	TSMTAIWAN SEMICONDUCTOR MFG LTD	18,084	$6M	0.1%	TRIM −21%
166	QXOQXO INC	309,644	$6M	0.1%	ADD 39%
167	BSCTINVESCO EXCH TRD SLF IDX FD	315,132	$6M	0.1%	ADD 25%
168	IJRISHARES TR	46,154	$6M	0.1%	HOLD
169	NVTNVENT ELECTRIC PLC	47,525	$6M	0.1%	TRIM −5%
170	VUGVANGUARD INDEX FDS	12,647	$6M	0.1%	TRIM −2%
171	PSXPHILLIPS 66	30,140	$5M	0.1%	HOLD
172	FBNDFIDELITY TOTAL BOND ETF	119,431	$5M	0.1%	TRIM −5%
173	ASMLASML HOLDING N V	3,999	$5M	0.1%	TRIM −19%
174	IWMISHARES TR	20,471	$5M	0.1%	HOLD
175	IMCBISHARES TR	60,331	$5M	0.1%	HOLD
176	IYWISHARES TR	27,433	$5M	0.1%	TRIM −4%
177	AMEAMETEK INC	22,929	$5M	0.1%	TRIM −10%
178	TFCTRUIST FINL CORP	105,809	$5M	0.1%	HOLD
179	GILDGILEAD SCIENCES INC	34,858	$5M	0.1%	HOLD
180	IONQIONQ INC	166,965	$5M	0.1%	TRIM −44%
181	ITWILLINOIS TOOL WKS INC	18,304	$5M	0.1%	TRIM −8%
182	AZOAUTOZONE INC	1,365	$5M	0.1%	HOLD
183	PFEPFIZER INC	161,017	$5M	0.1%	ADD 4%
184	USBUS BANCORP	86,397	$4M	0.1%	HOLD
185	AXPAMERICAN EXPRESS CO	14,817	$4M	0.1%	HOLD
186	TGTTARGET CORP	36,677	$4M	0.1%	ADD 11%
187	VRTVERTIV HOLDINGS CO	17,676	$4M	0.1%	TRIM −8%
188	GSGOLDMAN SACHS GROUP INC	5,214	$4M	0.1%	TRIM −6%
189	SCHFSCHWAB STRATEGIC TR	177,765	$4M	0.1%	HOLD
190	CACICACI INTL INC	8,002	$4M	0.1%	TRIM −9%
191	HEIHEICO CORP NEW	15,571	$4M	0.1%	ADD 5%
192	VTVVANGUARD INDEX FDS	21,614	$4M	0.1%	ADD 4%
193	HONHONEYWELL INTL INC	18,602	$4M	0.1%	TRIM −3%
194	PHPARKER-HANNIFIN CORP	4,657	$4M	0.1%	TRIM −3%
195	ACNACCENTURE PLC IRELAND	20,782	$4M	0.1%	TRIM −22%
196	ICEINTERCONTINENTAL EXCHANGE IN	25,919	$4M	0.1%	ADD 3%
197	ZBRAZEBRA TECHNOLOGIES CORPORATI	19,484	$4M	0.1%	TRIM −43%
198	AEPAMERICAN ELEC PWR CO INC	30,805	$4M	0.1%	HOLD
199	BSCUINVESCO EXCH TRD SLF IDX FD	241,190	$4M	0.1%	ADD 36%
200	XLESELECT SECTOR SPDR TR	65,391	$4M	0.1%	ADD 30%

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

GOOGLALPHABET INC

419K

652K

668K

661K

628K

602K

$171M

AAPLAPPLE INC

664K

694K

671K

669K

686K

664K

$169M

MSFTMICROSOFT CORP

284K

401K

407K

406K

417K

429K

$157M

JPMJPMORGAN CHASE & CO

351K

418K

410K

400K

419K

421K

$121M

NVDANVIDIA CORPORATION

733K

732K

718K

705K

700K

653K

$114M

AVGOBROADCOM INC

202K

440K

390K

389K

352K

363K

$111M

AMZNAMAZON COM INC

439K

454K

461K

469K

485K

$101M

BRK.BBERKSHIRE HATHAWAY INC DEL

163K

205K

197K

196K

193K

198K

$93M

METAMETA PLATFORMS INC

83K

160K

162K

160K

161K

164K

$91M

SYKSTRYKER CORPORATION

114K

205K

207K

211K

222K

243K

$78M

SCHWSCHWAB CHARLES CORP

456K

820K

826K

814K

804K

844K

$77M

MAMASTERCARD INCORPORATED

115K

145K

144K

143K

142K

143K

$69M

ETNEATON CORP PLC

177K

192K

193K

195K

192K

$69M

GOOGALPHABET INC

231K

248K

247K

243K

234K

231K

$66M

AMATAPPLIED MATLS INC

127K

151K

170K

201K

194K

166K

$57M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Carnegie Investment Counsel