CIK: 0001317784
Total reported value
$634.7M
Reporting period: 2026-03-31 · Number of holdings: 143
SFE Investment Counsel disclosed 143 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $634.7M and a quarterly turnover rate of 19.1%.
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SFE Investment Counsel's disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 62 equally-sized positions, well below its 143 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.13), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add CVX
+108.2% $7.0M
Trim KMB
+11.0% -$6.2M
Trim MSFT
+4.2% -$5.4M
Trim CLF
-1.3% -$4.5M
Trim EXPE
-49.4% -$4.1M
Add OKE
-0.7% $3.3M
Showing top 140 holdings (of 143 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 3.75% | -0.12% | +0.56% | |
| 2 | AAPL | Apple INC | Stock-Tech | 3.47% | -0.15% | -0.14% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 3.34% | -0.73% | +4.16% | |
| 4 | OKE | Oneok INC | Stock-Energy | 2.92% | +0.60% | -0.74% | |
| 5 | AVGO | Broadcom INC | Stock-Tech | 2.83% | — | +10.34% | |
| 6 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.76% | -0.24% | -2.01% | |
| 7 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.61% | — | +8.72% | |
| 8 | NEE | Nextera Energy INC | Stock-Utilities | 2.56% | +0.31% | -4.59% | |
| 9 | PANW | Palo Alto Networks INC | Stock-Tech | 2.14% | -0.10% | +6.57% | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.07% | -0.20% | -3.56% | |
| 11 | QCOM | Qualcomm INC | Stock-Tech | 2.05% | -0.47% | +5.07% | |
| 12 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 2.03% | — | -0.74% | |
| 13 | FSLR | First Solar INC | Stock-Tech | 1.97% | -0.59% | -1.20% | |
| 14 | USB | US Bancorp | Stock-Financials | 1.83% | -0.06% | -3.50% | |
| 15 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.75% | +0.27% | -0.21% | |
| 16 | PWR | Quanta Services INC | Stock-Industrials | 1.66% | +0.54% | +10.42% | |
| 17 | CMI | Cummins INC | Stock-Industrials | 1.64% | -0.13% | -14.61% | |
| 18 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.51% | -0.33% | -12.52% | |
| 19 | CVX | Chevron CORP | Stock-Energy | 1.47% | +1.11% | +108.22% | |
| 20 | IQV | Iqvia Holdings INC | Stock-Healthcare | 1.40% | -0.26% | +8.13% | |
| 21 | LH | Labcorp Holdings INC | Stock-Healthcare | 1.38% | — | +0.41% | |
| 22 | J | Jacobs Solutions INC | Stock-Industrials | 1.36% | +0.24% | +22.54% | |
| 23 | IBM | Intl Business Machines CORP | Stock-Tech | 1.32% | -0.23% | +1.68% | |
| 24 | ABT | Abbott Laboratories | Stock-Healthcare | 1.32% | -0.15% | +6.85% | |
| 25 | PRU | Prudential Financial INC | Stock-Financials | 1.32% | — | +6.67% | |
| 26 | BSJS | Invesco Bulletshares 2028 Hy | ETF-Other | 1.31% | — | +1.15% | |
| 27 | LHX | L3harris Technologies INC | Stock-Industrials | 1.29% | — | -8.60% | |
| 28 | BSJR | Invesco Bulletshares 2027 Hy | ETF-Other | 1.27% | — | +2.23% | |
| 29 | URI | United Rentals INC | Stock-Industrials | 1.26% | — | +2.46% | |
| 30 | BSJT | Invesco Bulletshares 2029 Hy | ETF-Other | 1.21% | — | +1.12% | |
| 31 | BX | Blackstone INC | Stock-Financials | 1.21% | — | +27.07% | |
| 32 | CLF | Cleveland-cliffs INC | Stock-Materials | 1.19% | -0.66% | -1.30% | |
| 33 | WSM | Williams-sonoma INC | Stock-Consumer Disc | 1.17% | +0.21% | +16.18% | |
| 34 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.14% | +0.30% | +38.51% | |
| 35 | ETN | Eaton Corporation plc | Stock-Industrials | 1.13% | +0.36% | +26.32% | |
| 36 | BSCS | Invesco Bulletshares 2028 Cb | ETF-Other | 1.10% | — | +7.63% | |
| 37 | DHR | Danaher CORP | Stock-Healthcare | 1.08% | — | +32.84% | |
| 38 | AMAT | Applied Materials INC | Stock-Tech | 1.04% | +0.23% | -6.49% | |
| 39 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.02% | +0.15% | -3.65% | |
| 40 | BSJU | Invesco Bulletshares 2030 Hy | ETF-Other | 1.01% | — | +3.17% | |
| 41 | AMD | Advanced Micro Devices | Stock-Tech | 1.00% | — | +5.14% | |
| 42 | BSJQ | Invesco Bulletshares 2026 Hy | ETF-Other | 0.98% | -0.09% | -10.88% | |
| 43 | BSCR | Invesco Bulletshares 2027 Cb | ETF-Other | 0.96% | — | +9.90% | |
| 44 | BSCT | Invesco Bulletshares 2029 Cb | ETF-Other | 0.95% | — | +5.64% | |
| 45 | KLAC | Kla CORP | Stock-Tech | 0.93% | +0.19% | — | |
| 46 | HASI | Ha Sustainable Infrastructur | Stock-Financials | 0.92% | — | -4.41% | |
| 47 | MRVL | Marvell Technology INC | Stock-Tech | 0.89% | +0.50% | +88.86% | |
| 48 | DCI | Donaldson Co INC | Stock-Industrials | 0.88% | — | -4.39% | |
| 49 | HON | Honeywell International INC | Stock-Industrials | 0.86% | +0.13% | -0.26% | |
| 50 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.84% | -0.16% | -4.26% |
Performance for Q3 2026
+1.1%
Performance Last 4 Quarters
+19.5%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 143 | $634.7M | 19 | |
| 2025-12-31 | 146 | $652.9M | 13 | |
| 2025-09-30 | 147 | $626.3M | 31 | |
| 2025-06-30 | 141 | $567.9M | 0 | |
| 2025-03-31 | 140 | $500.5M | 100 | |
| 2024-12-31 | 114 | $470.9M | 0 | |
| 2024-09-30 | 116 | $480.1M | 0 | |
| 2024-06-30 | 119 | $450.9M | 0 | |
| 2024-03-31 | 117 | $441.4M | 0 | |
| 2023-12-31 | 112 | $384.1M | 0 | |
| 2023-09-30 | 117 | $343.7M | 0 | |
| 2023-06-30 | 113 | $353.5M | 0 | |
| 2023-03-31 | 111 | $323.5M | 0 | |
| 2022-12-31 | 112 | $321.5M | 0 | |
| 2022-09-30 | 113 | $317.4M | 0 | |
| 2022-06-30 | 120 | $335.4M | 0 | |
| 2022-03-31 | 122 | $395.1M | 0 | |
| 2021-12-31 | 119 | $389.3M | 0 | |
| 2021-09-30 | 118 | $357.0M | 0 | |
| 2021-06-30 | 118 | $363.6M | 100 | |
| 2021-03-31 | 117 | $343.6M | 19 | |
| 2020-12-31 | 111 | $314.8M | 30 | |
| 2020-09-30 | 108 | $250.9M | 19 | |
| 2020-06-30 | 104 | $226.0M | 25 | |
| 2020-03-31 | 101 | $182.1M | 33 | |
| 2019-12-31 | 113 | $244.5M | 18 | |
| 2019-09-30 | 118 | $236.6M | 11 | |
| 2019-06-30 | 111 | $233.6M | 13 | |
| 2019-03-31 | 116 | $221.9M | 26 | |
| 2018-12-31 | 119 | $195.4M | 30 | |
| 2018-09-30 | 125 | $259.6M | 15 | |
| 2018-06-30 | 124 | $241.6M | 32 | |
| 2018-03-31 | 105 | $192.8M | 35 | |
| 2017-12-31 | 113 | $247.6M | 21 | |
| 2017-09-30 | 114 | $237.8M | 19 | |
| 2017-06-30 | 108 | $246.2M | 20 | |
| 2017-03-31 | 111 | $272.6M | 16 | |
| 2016-12-31 | 103 | $259.1M | 81 | |
| 2016-09-30 | 93 | $208.3M | 3 | |
| 2016-06-30 | 94 | $215.0M | 13 | |
| 2016-03-31 | 98 | $216.5M | 21 | |
| 2015-12-31 | 95 | $210.5M | 19 | 134407d240414l3268648 |
| 2015-09-30 | 94 | $209.6M | 21 | 134407d240414l3268648 |
| 2015-06-30 | 101 | $245.5M | 13 | 134407d2268648340414l |
| 2015-03-31 | 92 | $247.3M | 40 | |
| 2014-12-31 | 91 | $242.4M | 25 | |
| 2014-09-30 | 89 | $231.1M | 14 | |
| 2014-06-30 | 88 | $245.0M | 12 | |
| 2014-03-31 | 86 | $230.6M | 11 | |
| 2013-12-31 | 88 | $229.8M | 15 | |
| 2013-09-30 | 82 | $206.5M | 28 | |
| 2013-06-30 | 80 | $193.8M | — |
SFE Investment Counsel's most significant position changes for 2026-03-31: New buy: Servicenow INC (NOW); New buy: AstraZeneca PLC (AZN); New buy: Circle Internet Group INC (CRCL); Sold out: Ishares California Muni Bond (CMF); Add: Chevron CORP (CVX) — shares +108.22%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CVX | Chevron CORP | +1.1% | +108.22% | Add |
| 2 | OKE | Oneok INC | +0.6% | -0.74% | Trim |
| 3 | PWR | Quanta Services INC | +0.5% | +10.42% | Add |
| 4 | MRVL | Marvell Technology INC | +0.5% | +88.86% | Add |
| 5 | ETN | Eaton Corporation plc | +0.4% | +26.32% | Add |
| 6 | NEE | Nextera Energy INC | +0.3% | -4.59% | Trim |
| 7 | IVV | Ishares Core S&p 500 ETF | +0.3% | +38.51% | Add |
| 8 | COST | Costco Wholesale CORP | +0.3% | -0.21% | Trim |
| 9 | J | Jacobs Solutions INC | +0.2% | +22.54% | Add |
| 10 | WY | Weyerhaeuser Co | +0.2% | +32.17% | Add |
| 11 | AMAT | Applied Materials INC | +0.2% | -6.49% | Trim |
| 12 | UBER | Uber Technologies INC | +0.2% | +48.77% | Add |
| 13 | WSM | Williams-sonoma INC | +0.2% | +16.18% | Add |
| 14 | KLAC | Kla CORP | +0.2% | — | Unchanged |
| 15 | TTEK | Tetra Tech INC | +0.2% | +43.94% | Add |
| 16 | KMI | Kinder Morgan INC | +0.2% | +1.02% | Add |
| 17 | GLW | Corning INC | +0.2% | -8.17% | Trim |
| 18 | JNJ | Johnson & Johnson | +0.2% | -3.65% | Trim |
| 19 | HON | Honeywell International INC | +0.1% | -0.26% | Trim |
| 20 | USB | US Bancorp | -0.1% | -3.50% | Trim |
| 21 | BSJQ | Invesco Bulletshares 2026 Hy | -0.1% | -10.88% | Trim |
| 22 | PANW | Palo Alto Networks INC | -0.1% | +6.57% | Add |
| 23 | XYL | Xylem INC | -0.1% | -0.71% | Trim |
| 24 | NVDA | Nvidia CORP | -0.1% | +0.56% | Add |
| 25 | CMI | Cummins INC | -0.1% | -14.61% | Trim |
| 26 | FDX | Fedex CORP | -0.1% | -35.06% | Trim |
| 27 | AAPL | Apple INC | -0.2% | -0.14% | Trim |
| 28 | ABT | Abbott Laboratories | -0.2% | +6.85% | Add |
| 29 | LLY | Eli Lilly & Co | -0.2% | -4.26% | Trim |
| 30 | ROP | Roper Technologies INC | -0.2% | -5.07% | Trim |
| 31 | GOOGL | Alphabet Inc-cl A | -0.2% | -3.56% | Trim |
| 32 | DE | Deere & Co | -0.2% | -79.65% | Trim |
| 33 | IBM | Intl Business Machines CORP | -0.2% | +1.68% | Add |
| 34 | FISV | Fiserv INC | -0.2% | -69.46% | Trim |
| 35 | JPM | Jpmorgan Chase & Co | -0.2% | -2.01% | Trim |
| 36 | IQV | Iqvia Holdings INC | -0.3% | +8.13% | Add |
| 37 | CRM | Salesforce INC | -0.3% | -16.10% | Trim |
| 38 | BDX | Becton Dickinson And Co | -0.3% | -28.41% | Trim |
| 39 | ULTA | Ulta Beauty INC | -0.3% | -83.67% | Trim |
| 40 | GOOG | Alphabet Inc-cl C | -0.3% | -12.52% | Trim |
| 41 | QCOM | Qualcomm INC | -0.5% | +5.07% | Add |
| 42 | FSLR | First Solar INC | -0.6% | -1.20% | Trim |
| 43 | EXPE | Expedia Group INC | -0.6% | -49.38% | Trim |
| 44 | CLF | Cleveland-cliffs INC | -0.7% | -1.30% | Trim |
| 45 | MSFT | Microsoft CORP | -0.7% | +4.16% | Add |
| 46 | KMB | Kimberly-clark CORP | -0.9% | +10.98% | Add |
| 47 | NOW | Servicenow INC | — | NEW | New buy |
| 48 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 49 | CRCL | Circle Internet Group INC | — | NEW | New buy |
| 50 | CMF | Ishares California Muni Bond | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-01 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-05 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-06 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-30 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-25 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-05 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-06 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-31 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-25 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-24 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-09 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-10 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-07 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-10 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-30 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-04 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-09 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-05 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-04 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-17 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-31 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-26 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-08 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-07 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-31 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-30 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-01 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-06 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-01 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-03 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-19 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-10 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-07 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-02 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-09 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | Amendment | View on EDGAR |
| 2015-09-30 | 2015-11-10 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-11 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-08 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-03 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-06 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-08 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-03 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-28 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-13 | 13F-HR | View on EDGAR |
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