IC
Investment Counsel Inc. Historical SEC 13F Holdings & Archive (Q1 2021)
Investment Counsel Inc.CIK: 0001670053
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$142.1M
Reporting period: 2021-03-31 · Number of holdings: 51
Investment Counsel Inc. disclosed 51 holdings in its latest 13F filing for the period ending 2021-03-31, with total reported value of $142.1M and a quarterly turnover rate of 8.9%.
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Personality snowflake
- Concentration
- 27.59
- Portfolio Stability
- 8.94
- Momentum
- 100
- Sector conviction
- 55.29
- Diversification
- 100
- Sizing Uniformity
- 83.98
Investment Counsel Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.069 — mathematically equivalent to about 14 equally-sized positions, well below its 51 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 1.60), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.9 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 53% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim AAPL
-7.1% -$1.2M
Add INTC
-4.7% $829.0K
Trim WAT
-33.6% -$720.0K
Trim MRK
-18.1% -$709.0K
Add GOOG
-2.7% $542.0K
Add AMAT
+13.0% $598.0K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 22.42% | +0.39% | +0.57% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.78% | -0.69% | -7.10% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.07% | -0.13% | -10.58% | |
| 4 | NKE | Nike Inc -cl B | Stock-Consumer Disc | 3.97% | -0.40% | -5.22% | |
| 5 | INTC | Intel CORP | Stock-Tech | 3.18% | +0.64% | -4.66% | |
| 6 | JNJ | Johnson & Johnson | Stock-Healthcare | 3.12% | -0.09% | -8.99% | |
| 7 | ADP | Automatic Data Processing | Stock-Tech | 3.12% | +0.12% | -4.86% | |
| 8 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.94% | +0.44% | -2.65% | |
| 9 | ITW | Illinois Tool Works | Stock-Industrials | 2.92% | +0.13% | -5.54% | |
| 10 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.91% | +0.42% | -4.39% | |
| 11 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 2.84% | -0.16% | -4.79% | |
| 12 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 2.71% | +0.12% | -2.00% | |
| 13 | ABT | Abbott Laboratories | Stock-Healthcare | 2.66% | +0.28% | — | |
| 14 | HD | Home Depot Inc | Stock-Consumer Disc | 2.51% | +0.32% | -2.26% | |
| 15 | BLKCHF | Blackrock Inc | Stock-Other | 2.50% | — | -4.07% | |
| 16 | WMT | Walmart Inc | Stock-Consumer Staples | 2.24% | -0.33% | -9.65% | |
| 17 | PEP | Pepsico Inc | Stock-Consumer Staples | 1.90% | -0.35% | -13.40% | |
| 18 | APD | Air Products & Chemicals Inc | Stock-Materials | 1.84% | -0.07% | -8.59% | |
| 19 | MRK | Merck & Co. Inc. | Stock-Healthcare | 1.69% | -0.46% | -18.06% | |
| 20 | WAT | Waters CORP | Stock-Healthcare | 1.63% | -0.46% | -33.57% | |
| 21 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.62% | +0.13% | +0.17% | |
| 22 | MMM | 3m Co | Stock-Industrials | 1.60% | +0.02% | -10.42% | |
| 23 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.58% | -0.04% | -0.64% | |
| 24 | AXP | American Express Co | Stock-Financials | 1.54% | +0.25% | — | |
| 25 | AMGN | Amgen Inc | Stock-Healthcare | 1.25% | — | -7.14% | |
| 26 | MDT | Medtronic plc | Stock-Healthcare | 1.13% | — | -0.73% | |
| 27 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 1.12% | +0.05% | -0.86% | |
| 28 | CVS | Cvs Health CORP | Stock-Healthcare | 1.07% | — | -9.01% | |
| 29 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.98% | +0.04% | +0.45% | |
| 30 | AMAT | Applied Materials Inc | Stock-Tech | 0.98% | +0.43% | +12.97% | |
| 31 | SWK | Stanley Black & Decker Inc | Stock-Industrials | 0.93% | +0.07% | -5.02% | |
| 32 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.89% | +0.08% | +13.89% | |
| 33 | SYY | Sysco CORP | Stock-Consumer Staples | 0.88% | -0.27% | -28.94% | |
| 34 | SO | Southern Co/the | Stock-Utilities | 0.80% | -0.03% | -7.62% | |
| 35 | LHX | L3harris Technologies Inc | Stock-Industrials | 0.77% | +0.10% | +4.86% | |
| 36 | SYK | Stryker CORP | Stock-Healthcare | 0.67% | -0.32% | -33.15% | |
| 37 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.67% | +0.05% | — | |
| 38 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.67% | +0.07% | — | |
| 39 | FISV | Fiserv Inc | Stock-Other | 0.61% | +0.15% | +22.98% | |
| 40 | ZBH | Zimmer Biomet Holdings Inc | Stock-Healthcare | 0.60% | -0.07% | -15.73% | |
| 41 | XOM | Exxon Mobil CORP | Stock-Energy | 0.60% | +0.09% | -15.72% | |
| 42 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.52% | +0.09% | — | |
| 43 | T | At&t Inc | Stock-Comm Services | 0.42% | — | -8.78% | |
| 44 | BP | Bp Plc-spons Adr | Stock-Energy | 0.34% | — | -17.94% | |
| 45 | JNK | Ss Spdr Bb High Yield Bond | ETF-High Yield | 0.34% | -0.02% | -6.59% | |
| 46 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.32% | -0.15% | -34.07% | |
| 47 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.30% | +0.02% | — | |
| 48 | VZ | Verizon Communications Inc | Stock-Comm Services | 0.26% | -0.01% | -1.53% | |
| 49 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 0.23% | -0.01% | — | |
| 50 | IBM | Intl Business Machines CORP | Stock-Tech | 0.21% | +0.01% | — |
1–50 of 51
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2021 Q1 | 51 | $142.1M | 9 | ||
| 2020 Q4 | 54 | $145.1M | 8 | ||
| 2020 Q3 | 54 | $136.8M | 12 | ||
| 2020 Q2 | 55 | $133.8M | 16 | ||
| 2020 Q1 | 51 | $115.4M | 19 | ||
| 2019 Q4 | 55 | $139.7M | 10 | ||
| 2019 Q3 | 54 | $137.5M | 8 | ||
| 2019 Q2 | 57 | $136.7M | 15 | ||
| 2019 Q1 | 55 | $131.3M | 10 | ||
| 2018 Q4 | 53 | $119.9M | 5 | ||
| 2018 Q3 | 53 | $123.3M | 9 | ||
| 2018 Q2 | 54 | $124.6M | 15 | ||
| 2018 Q1 | 53 | $121.6M | 9 | ||
| 2017 Q4 | 57 | $126.6M | 9 | ||
| 2017 Q3 | 59 | $121.4M | 9 | ||
| 2017 Q2 | 59 | $119.8M | 6 | ||
| 2017 Q1 | 60 | $120.8M | 17 | ||
| 2016 Q4 | 60 | $115.2M | 8 | ||
| 2016 Q3 | 61 | $114.2M | 12 | ||
| 2016 Q2 | 66 | $123.6M | 23 | ||
| 2016 Q1 | 62 | $107.1M | 19 | ||
| 2015 Q4 | 63 | $112.3M | 0 |
Holding changes this quarter
Investment Counsel Inc.'s most significant position changes for 2021-03-31: Sold out: Church & Dwight Co Inc (CHD); Sold out: Chevron CORP (CVX); Sold out: General Mills Inc (GIS); Trim: Apple Inc (AAPL) — shares -7.10%; Trim: Intel CORP (INTC) — shares -4.66%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | INTC | Intel CORP | +0.6% | -4.66% | Trim |
| 2 | GOOG | Alphabet Inc-cl C | +0.4% | -2.65% | Trim |
| 3 | AMAT | Applied Materials Inc | +0.4% | +12.97% | Add |
| 4 | JPM | Jpmorgan Chase & Co | +0.4% | -4.39% | Trim |
| 5 | VCSH | Vanguard S/t CORP Bond ETF | +0.4% | +0.57% | Add |
| 6 | HD | Home Depot Inc | +0.3% | -2.26% | Trim |
| 7 | ABT | Abbott Laboratories | +0.3% | — | Unchanged |
| 8 | AXP | American Express Co | +0.3% | — | Unchanged |
| 9 | FISV | Fiserv Inc | +0.2% | +22.98% | Add |
| 10 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +0.17% | Add |
| 11 | ITW | Illinois Tool Works | +0.1% | -5.54% | Trim |
| 12 | MCD | Mcdonald's CORP | +0.1% | -2.00% | Trim |
| 13 | ADP | Automatic Data Processing | +0.1% | -4.86% | Trim |
| 14 | LHX | L3harris Technologies Inc | +0.1% | +4.86% | Add |
| 15 | GOOGL | Alphabet Inc-cl A | +0.1% | — | Unchanged |
| 16 | XOM | Exxon Mobil CORP | +0.1% | -15.72% | Trim |
| 17 | AMZN | Amazon.com Inc | +0.1% | +13.89% | Add |
| 18 | BRK-B | Berkshire Hathaway Inc-cl B | +0.1% | — | Unchanged |
| 19 | SWK | Stanley Black & Decker Inc | +0.1% | -5.02% | Trim |
| 20 | UNH | Unitedhealth Group Inc | +0.1% | — | Unchanged |
| 21 | KMB | Kimberly-clark CORP | +0.1% | -0.86% | Trim |
| 22 | BMY | Bristol-myers Squibb Co | 0% | +0.45% | Add |
| 23 | MMM | 3m Co | 0% | -10.42% | Trim |
| 24 | VTI | Vanguard Total Stock Mkt ETF | 0% | — | Unchanged |
| 25 | IVV | Ishares Core S&p 500 ETF | 0% | — | Unchanged |
| 26 | IBM | Intl Business Machines CORP | 0% | — | Unchanged |
| 27 | T | At&t Inc | — | -8.78% | Trim |
| 28 | BP | Bp Plc-spons Adr | — | -17.94% | Trim |
| 29 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | 0% | — | Unchanged |
| 30 | VZ | Verizon Communications Inc | 0% | -1.53% | Trim |
| 31 | JNK | Ss Spdr Bb High Yield Bond | 0% | -6.59% | Trim |
| 32 | SO | Southern Co/the | 0% | -7.62% | Trim |
| 33 | KO | Coca-cola Co/the | 0% | -0.64% | Trim |
| 34 | APD | Air Products & Chemicals Inc | -0.1% | -8.59% | Trim |
| 35 | ZBH | Zimmer Biomet Holdings Inc | -0.1% | -15.73% | Trim |
| 36 | JNJ | Johnson & Johnson | -0.1% | -8.99% | Trim |
| 37 | MSFT | Microsoft CORP | -0.1% | -10.58% | Trim |
| 38 | DIS | Walt Disney Co/the | -0.2% | -34.07% | Trim |
| 39 | PG | Procter & Gamble Co/the | -0.2% | -4.79% | Trim |
| 40 | SYY | Sysco CORP | -0.3% | -28.94% | Trim |
| 41 | SYK | Stryker CORP | -0.3% | -33.15% | Trim |
| 42 | WMT | Walmart Inc | -0.3% | -9.65% | Trim |
| 43 | PEP | Pepsico Inc | -0.4% | -13.40% | Trim |
| 44 | NKE | Nike Inc -cl B | -0.4% | -5.22% | Trim |
| 45 | WAT | Waters CORP | -0.5% | -33.57% | Trim |
| 46 | MRK | Merck & Co. Inc. | -0.5% | -18.06% | Trim |
| 47 | AAPL | Apple Inc | -0.7% | -7.10% | Trim |
| 48 | CHD | Church & Dwight Co Inc | — | EXIT | Sold out |
| 49 | CVX | Chevron CORP | — | EXIT | Sold out |
| 50 | GIS | General Mills Inc | — | EXIT | Sold out |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is Investment Counsel Inc. and what type of investor is it?
Investment Counsel Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2021-03-31), the firm manages a tracked equity portfolio valued at approximately $142.1M, spread across 51 disclosed positions.
What are Investment Counsel Inc.'s largest equity positions?
Based on the latest 13F filing, Investment Counsel Inc.'s top holdings by market value are:
1. Vanguard S/t CORP Bond ETF (VCSH) — $31.9M (22.4%)
2. Apple Inc (AAPL) — $6.8M (4.8%)
3. Microsoft CORP (MSFT) — $5.8M (4.1%)
4. Nike Inc -cl B (NKE) — $5.6M (4.0%)
5. Intel CORP (INTC) — $4.5M (3.2%)
What changes did Investment Counsel Inc. make in its most recent portfolio filing?
In the latest reported quarter, Investment Counsel Inc. made 41 notable position adjustments: 0 new positions were initiated, 7 existing holdings were added to, 31 positions were partially reduced, and 3 were completely exited. The largest of these moves: Sold out: Church & Dwight Co Inc (CHD); Sold out: Chevron CORP (CVX); Sold out: General Mills Inc (GIS); Trim: Apple Inc (AAPL) — shares -7.10%; Trim: Intel CORP (INTC) — shares -4.66%
What sectors does Investment Counsel Inc. focus on?
Investment Counsel Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 24.7%
• Health Care: 21.4%
• Consumer Discretionary: 18.9%
• Consumer Staples: 16.0%
• Financials: 9.6%
• Communication Services: 8.3%
Investment Profile
Investment Counsel Inc.'s portfolio is broadly diversified and long-term-holding.
It has added to its JPM position over the past two quarters (+$1.3M, now $4.1M), while trimming MRK over the same stretch (-$799.0K, still holding $2.4M).
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Developer Access
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