CIK: 0001511506
Total reported value
$5.1B
Reporting period: 2026-03-31 · Number of holdings: 559
Carnegie Investment Counsel disclosed 559 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $5.1B and a quarterly turnover rate of 16.5%.
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Carnegie Investment Counsel's disclosed holdings carry a Herfindahl concentration index of 0.010 — mathematically equivalent to about 99 equally-sized positions, well below its 559 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.16), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
+2.8% -$45.1M
Trim CRDO
-38.2% -$20.8M
Add IGV
+1141.1% $16.3M
Trim GOOGL
-4.2% -$26.2M
Trim HO1
-95.9% -$16.6M
Trim QCOM
+0.6% -$16.5M
Showing top 200 holdings (of 559 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.32% | -0.31% | -4.17% | |
| 2 | AAPL | Apple INC | Stock-Tech | 3.29% | -0.15% | -3.10% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 3.05% | -0.67% | +2.84% | |
| 4 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.36% | -0.13% | +0.39% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 2.22% | -0.19% | -6.71% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 2.15% | -0.09% | +3.37% | |
| 7 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.97% | -0.10% | -0.14% | |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.82% | — | +2.85% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.78% | -0.18% | +1.64% | |
| 10 | SYK | Stryker CORP | Stock-Healthcare | 1.52% | — | +9.52% | |
| 11 | SCHW | Schwab (charles) CORP | Stock-Financials | 1.51% | — | +5.01% | |
| 12 | MA | Mastercard INC - A | Stock-Financials | 1.35% | -0.14% | +1.21% | |
| 13 | ETN | Eaton Corporation plc | Stock-Industrials | 1.34% | +0.21% | -0.12% | |
| 14 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.29% | -0.06% | -1.04% | |
| 15 | AMAT | Applied Materials INC | Stock-Tech | 1.10% | +0.18% | -14.81% | |
| 16 | PGR | Progressive CORP | Stock-Financials | 1.10% | -0.11% | -1.21% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 1.08% | -0.10% | +0.53% | |
| 18 | SPTI | Ss Spdr P Int Term Tsy ETF | ETF-Other | 1.03% | — | +2.06% | |
| 19 | CB | Chubb Limited | Stock-Financials | 0.99% | — | +3.19% | |
| 20 | SHW | Sherwin-williams Co/the | Stock-Materials | 0.96% | — | -3.37% | |
| 21 | HD | Home Depot INC | Stock-Consumer Disc | 0.95% | +0.26% | +42.43% | |
| 22 | XLK | Ss Technology Select Sector | ETF-Tech | 0.91% | -0.07% | -5.12% | |
| 23 | QCOM | Qualcomm INC | Stock-Tech | 0.90% | -0.26% | +0.63% | |
| 24 | CME | Cme Group INC | Stock-Financials | 0.89% | — | +3.36% | |
| 25 | IQLT | Ishares Msci International Q | ETF-Other | 0.85% | +0.15% | +13.63% | |
| 26 | LNT | Alliant Energy CORP | Stock-Utilities | 0.85% | — | +4.01% | |
| 27 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 0.85% | — | +5.51% | |
| 28 | UBER | Uber Technologies INC | Stock-Industrials | 0.82% | -0.06% | +0.86% | |
| 29 | NEE | Nextera Energy INC | Stock-Utilities | 0.82% | +0.14% | -1.58% | |
| 30 | VZ | Verizon Communications INC | Stock-Comm Services | 0.78% | +0.17% | +3.79% | |
| 31 | BLK | Blackrock INC | Stock-Financials | 0.78% | — | +5.86% | |
| 32 | RTX | Rtx CORP | Stock-Industrials | 0.76% | — | -7.54% | |
| 33 | ZTS | Zoetis INC | Stock-Healthcare | 0.74% | — | +9.62% | |
| 34 | SPIB | Ss Spdr P Int C CORP ETF | ETF-Other | 0.74% | — | +0.47% | |
| 35 | AMGN | Amgen INC | Stock-Healthcare | 0.74% | — | +0.90% | |
| 36 | ABBV | Abbvie INC | Stock-Healthcare | 0.73% | — | +11.23% | |
| 37 | CASY | Casey's General Stores INC | Stock-Consumer Disc | 0.72% | +0.20% | -0.72% | |
| 38 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 0.71% | — | -3.29% | |
| 39 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.70% | — | -2.06% | |
| 40 | ECL | Ecolab INC | Stock-Materials | 0.69% | — | -3.50% | |
| 41 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.69% | -0.21% | -23.65% | |
| 42 | NOC | Northrop Grumman CORP | Stock-Industrials | 0.68% | — | -7.72% | |
| 43 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.67% | — | +5.72% | |
| 44 | ABT | Abbott Laboratories | Stock-Healthcare | 0.65% | -0.09% | +6.54% | |
| 45 | CVX | Chevron CORP | Stock-Energy | 0.64% | +0.19% | -1.55% | |
| 46 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 0.60% | — | -2.41% | |
| 47 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 0.60% | — | -2.57% | |
| 48 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.60% | — | -21.52% | |
| 49 | DECK | Deckers Outdoor CORP | Stock-Consumer Disc | 0.59% | +0.59% | NEW | |
| 50 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.59% | — | -7.26% |
Performance for Q3 2026
+2.7%
Performance Last 4 Quarters
+17.5%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 559 | $5.1B | 17 | |
| 2025-12-31 | 564 | $5.4B | 14 | |
| 2025-09-30 | 551 | $5.3B | 30 | |
| 2025-06-30 | 541 | $5.0B | 0 | |
| 2025-03-31 | 482 | $4.2B | 100 | |
| 2024-12-31 | 456 | $3.5B | 0 | |
| 2024-09-30 | 463 | $3.4B | 0 | |
| 2024-06-30 | 466 | $3.2B | 0 | |
| 2024-03-31 | 495 | $3.2B | 0 | |
| 2023-12-31 | 483 | $2.9B | 0 | |
| 2023-09-30 | 483 | $2.6B | 0 | |
| 2023-06-30 | 495 | $2.7B | 0 | |
| 2023-03-31 | 505 | $2.5B | 0 | |
| 2022-12-31 | 510 | $2.3B | 0 | |
| 2022-09-30 | 474 | $2.1B | 0 | |
| 2022-06-30 | 471 | $2.2B | 0 | |
| 2022-03-31 | 486 | $2.7B | 0 | |
| 2021-12-31 | 495 | $3.0B | 0 | |
| 2021-09-30 | 468 | $2.7B | 0 | |
| 2021-06-30 | 472 | $2.7B | 100 | |
| 2021-03-31 | 454 | $2.4B | 14 | |
| 2020-12-31 | 427 | $2.2B | 19 | |
| 2020-09-30 | 408 | $2.0B | 17 | |
| 2020-06-30 | 412 | $1.7B | 24 | |
| 2020-03-31 | 394 | $1.4B | 28 | |
| 2019-12-31 | 426 | $1.7B | 14 | |
| 2019-09-30 | 417 | $1.6B | 14 | |
| 2019-06-30 | 422 | $1.5B | 14 | |
| 2019-03-31 | 413 | $1.5B | 35 | |
| 2018-12-31 | 366 | $1.1B | 48 | |
| 2018-09-30 | 341 | $1.2B | 47 | |
| 2018-06-30 | 371 | $1.3B | 17 | |
| 2018-03-31 | 366 | $1.2B | 22 | |
| 2017-12-31 | 374 | $1.1B | 35 | |
| 2017-09-30 | 350 | $854.7M | 14 | |
| 2017-06-30 | 350 | $821.6M | 13 | |
| 2017-03-31 | 339 | $807.0M | 19 | |
| 2016-12-31 | 334 | $751.2M | 14 | |
| 2016-09-30 | 316 | $693.2M | 10 | |
| 2016-06-30 | 316 | $708.9M | 15 | |
| 2016-03-31 | 300 | $652.9M | 16 | |
| 2015-12-31 | 287 | $576.4M | 23 | |
| 2015-09-30 | 293 | $582.3M | 19 | |
| 2015-06-30 | 284 | $572.3M | 13 | |
| 2015-03-31 | 299 | $579.6M | 16 | |
| 2014-12-31 | 281 | $533.3M | 23 | |
| 2014-09-30 | 294 | $502.5M | 88 | |
| 2014-06-30 | 229 | $439.9M | 18 | |
| 2014-03-31 | 212 | $379.5M | 10 | |
| 2013-12-31 | 210 | $372.9M | 18 | |
| 2013-09-30 | 200 | $324.5M | 12 | |
| 2013-06-30 | 190 | $304.1M | — |
Carnegie Investment Counsel's most significant position changes for 2026-03-31: New buy: Deckers Outdoor CORP (DECK); Sold out: Maplebear INC (CART); Sold out: Soundhound Ai Inc-a (SOUN); Sold out: Upstart Holdings INC (UPST); Add: Microsoft CORP (MSFT) — shares +2.84%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IGV | Ishares Expanded Tech-softwa | +0.3% | +1141.10% | Add |
| 2 | HD | Home Depot INC | +0.3% | +42.43% | Add |
| 3 | ETN | Eaton Corporation plc | +0.2% | -0.12% | Trim |
| 4 | CASY | Casey's General Stores INC | +0.2% | -0.72% | Trim |
| 5 | CVX | Chevron CORP | +0.2% | -1.55% | Trim |
| 6 | AMAT | Applied Materials INC | +0.2% | -14.81% | Trim |
| 7 | COIN | Coinbase Global INC -class A | +0.2% | +615.77% | Add |
| 8 | HOOD | Robinhood Markets INC - A | +0.2% | +6385.53% | Add |
| 9 | VZ | Verizon Communications INC | +0.2% | +3.79% | Add |
| 10 | IQLT | Ishares Msci International Q | +0.2% | +13.63% | Add |
| 11 | POWL | Powell Industries INC | +0.1% | -11.02% | Trim |
| 12 | GEV | GE Vernova INC | +0.1% | -2.25% | Trim |
| 13 | NEE | Nextera Energy INC | +0.1% | -1.58% | Trim |
| 14 | Q | Qnity Electronics INC | +0.1% | +1722.33% | Add |
| 15 | KMI | Kinder Morgan INC | +0.1% | +0.20% | Add |
| 16 | CRWD | Crowdstrike Holdings INC - A | +0.1% | +69.87% | Add |
| 17 | PYPL | Paypal Holdings INC | +0.1% | +186.26% | Add |
| 18 | GOOG | Alphabet Inc-cl C | -0.1% | -1.04% | Trim |
| 19 | UBER | Uber Technologies INC | -0.1% | +0.86% | Add |
| 20 | XLK | Ss Technology Select Sector | -0.1% | -5.12% | Trim |
| 21 | ZBRA | Zebra Technologies Corp-cl A | -0.1% | -43.44% | Trim |
| 22 | AVGO | Broadcom INC | -0.1% | +3.37% | Add |
| 23 | ABT | Abbott Laboratories | -0.1% | +6.54% | Add |
| 24 | AMT | American Tower CORP | -0.1% | -25.17% | Trim |
| 25 | AMZN | Amazon.com INC | -0.1% | -0.14% | Trim |
| 26 | V | Visa Inc-class A Shares | -0.1% | +0.53% | Add |
| 27 | NVO | Novo-nordisk A/s-spons Adr | -0.1% | -27.35% | Trim |
| 28 | PGR | Progressive CORP | -0.1% | -1.21% | Trim |
| 29 | TMO | Thermo Fisher Scientific INC | -0.1% | -11.78% | Trim |
| 30 | ULTA | Ulta Beauty INC | -0.1% | -4.98% | Trim |
| 31 | GRAL | Grail INC | -0.1% | +1.90% | Add |
| 32 | JPM | Jpmorgan Chase & Co | -0.1% | +0.39% | Add |
| 33 | UNH | Unitedhealth Group INC | -0.1% | -2.83% | Trim |
| 34 | MA | Mastercard INC - A | -0.1% | +1.21% | Add |
| 35 | AAPL | Apple INC | -0.2% | -3.10% | Trim |
| 36 | IONQ | Ionq INC | -0.2% | -44.15% | Trim |
| 37 | META | Meta Platforms Inc-class A | -0.2% | +1.64% | Add |
| 38 | NVDA | Nvidia CORP | -0.2% | -6.71% | Trim |
| 39 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.2% | -23.65% | Trim |
| 40 | RDDT | Reddit Inc-cl A | -0.2% | +10.48% | Add |
| 41 | QCOM | Qualcomm INC | -0.3% | +0.63% | Add |
| 42 | RELX | Relx PLC - Spon Adr | -0.3% | -92.35% | Trim |
| 43 | GOOGL | Alphabet Inc-cl A | -0.3% | -4.17% | Trim |
| 44 | HO1 | Hologic INC | -0.3% | -95.92% | Trim |
| 45 | CRDO | Credo Technology Group Holding Ltd | -0.4% | -38.21% | Trim |
| 46 | MSFT | Microsoft CORP | -0.7% | +2.84% | Add |
| 47 | DECK | Deckers Outdoor CORP | — | NEW | New buy |
| 48 | CART | Maplebear INC | — | EXIT | Sold out |
| 49 | SOUN | Soundhound Ai Inc-a | — | EXIT | Sold out |
| 50 | UPST | Upstart Holdings INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-01 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-23 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-16 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-31 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-06 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-15 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-10 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-22 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-06 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-30 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-11 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-04 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-20 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-24 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-02 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-07-13 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-11 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-21 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-08 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-12 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-08 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-09 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-08 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-20 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-24 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-27 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-16 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-12 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-02 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-03 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-05 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-05 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-18 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-08 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-04 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-08 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-02 | 13F-HR | View on EDGAR |
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