CIK: 0001665518
Total reported value
$365.2M
Reporting period: 2026-03-31 · Number of holdings: 104
PHYSICIANS FINANCIAL SERVICES, INC. disclosed 104 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $365.2M and a quarterly turnover rate of 13.8%.
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Physicians Financial Services, INC.'s disclosed holdings carry a Herfindahl concentration index of 0.044 — mathematically equivalent to about 23 equally-sized positions, well below its 104 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 1.90), 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
+2.6% -$4.3M
Trim AAPL
-2.2% -$5.0M
Add CAT
+1.1% $2.7M
Add CVX
+3.9% $2.4M
Add WMT
+0.3% $2.1M
Trim AMZN
-0.3% -$2.3M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 14.33% | -1.05% | -2.22% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 6.51% | -0.23% | +1.17% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 6.04% | -0.41% | -0.11% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 5.63% | -0.50% | -0.26% | |
| 5 | WMT | Walmart INC | Stock-Consumer Staples | 5.37% | +0.67% | +0.29% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 4.29% | -1.07% | +2.62% | |
| 7 | CAT | Caterpillar INC | Stock-Industrials | 3.72% | +0.81% | +1.11% | |
| 8 | MA | Mastercard INC - A | Stock-Financials | 2.47% | -0.29% | +0.28% | |
| 9 | CVX | Chevron CORP | Stock-Energy | 2.22% | +0.68% | +3.87% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.08% | -0.23% | +1.53% | |
| 11 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.91% | +0.39% | +6.71% | |
| 12 | CMI | Cummins INC | Stock-Industrials | 1.82% | +0.15% | +0.98% | |
| 13 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.74% | +0.09% | +1.69% | |
| 14 | AMGN | Amgen INC | Stock-Healthcare | 1.64% | +0.14% | -0.44% | |
| 15 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.60% | +0.30% | +1.86% | |
| 16 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 1.46% | — | — | |
| 17 | DUK | Duke Energy CORP | Stock-Utilities | 1.46% | +0.36% | +16.23% | |
| 18 | PH | Parker Hannifin CORP | Stock-Industrials | 1.43% | — | — | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 1.37% | -0.22% | -1.95% | |
| 20 | AVGO | Broadcom INC | Stock-Tech | 1.32% | -0.13% | -0.19% | |
| 21 | ADP | Automatic Data Processing | Stock-Tech | 1.30% | -0.25% | +3.74% | |
| 22 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.26% | +0.12% | +0.10% | |
| 23 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.25% | — | +21.28% | |
| 24 | LMT | Lockheed Martin CORP | Stock-Industrials | 1.23% | +0.27% | +0.18% | |
| 25 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.18% | -0.04% | -0.50% | |
| 26 | HD | Home Depot INC | Stock-Consumer Disc | 1.14% | — | +7.50% | |
| 27 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.09% | +0.15% | +12.90% | |
| 28 | ORCL | Oracle CORP | Stock-Tech | 0.97% | -0.28% | +0.42% | |
| 29 | PEP | Pepsico INC | Stock-Consumer Staples | 0.91% | +0.12% | +4.78% | |
| 30 | DE | Deere & Co | Stock-Industrials | 0.79% | +0.17% | +3.53% | |
| 31 | RTX | Rtx CORP | Stock-Industrials | 0.75% | +0.06% | +1.89% | |
| 32 | ABBV | Abbvie INC | Stock-Healthcare | 0.72% | — | +1.90% | |
| 33 | CSCO | Cisco Systems INC | Stock-Tech | 0.69% | — | +0.47% | |
| 34 | IBM | Intl Business Machines CORP | Stock-Tech | 0.67% | -0.13% | +0.73% | |
| 35 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.66% | — | +5.85% | |
| 36 | GEV | GE Vernova INC | Stock-Industrials | 0.64% | +0.26% | +23.64% | |
| 37 | QCOM | Qualcomm INC | Stock-Tech | 0.61% | -0.15% | +5.30% | |
| 38 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.61% | -0.04% | — | |
| 39 | FDX | Fedex CORP | Stock-Industrials | 0.60% | +0.13% | +1.82% | |
| 40 | MMM | 3m Co | Stock-Industrials | 0.59% | — | +3.43% | |
| 41 | HSY | Hershey Co/the | Stock-Consumer Staples | 0.58% | +0.10% | +2.02% | |
| 42 | EQIX | Equinix INC | Stock-Real Estate | 0.53% | +0.12% | — | |
| 43 | NVS | Novartis Ag-sponsored Adr | Stock-Healthcare | 0.51% | — | — | |
| 44 | ETN | Eaton Corporation plc | Stock-Industrials | 0.50% | -0.04% | -19.36% | |
| 45 | ITW | Illinois Tool Works | Stock-Industrials | 0.46% | — | +1.57% | |
| 46 | AMD | Advanced Micro Devices | Stock-Tech | 0.44% | — | -0.62% | |
| 47 | TFC | Truist Financial CORP | Stock-Financials | 0.43% | — | -0.44% | |
| 48 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.40% | +0.23% | +111.39% | |
| 49 | LRCX | Lam Research CORP | Stock-Tech | 0.39% | +0.08% | — | |
| 50 | UNP | Union Pacific CORP | Stock-Industrials | 0.38% | — | — |
Performance for Q3 2026
+3%
Performance Last 4 Quarters
+27.1%
Based on 84% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 104 | $365.2M | 14 | |
| 2025-12-31 | 107 | $372.7M | 9 | |
| 2025-09-30 | 108 | $366.3M | 23 | |
| 2025-06-30 | 107 | $335.7M | 0 | |
| 2025-03-31 | 107 | $314.5M | 100 | |
| 2024-12-31 | 105 | $329.4M | 0 | |
| 2024-09-30 | 107 | $321.6M | 0 | |
| 2024-06-30 | 108 | $307.5M | 0 | |
| 2024-03-31 | 103 | $284.0M | 0 | |
| 2023-12-31 | 103 | $263.9M | 0 | |
| 2023-09-30 | 105 | $244.4M | 0 | |
| 2023-06-30 | 108 | $254.7M | 0 | |
| 2023-03-31 | 107 | $236.5M | 0 | |
| 2022-12-31 | 109 | $222.1M | 0 | |
| 2022-09-30 | 109 | $206.9M | 0 | |
| 2022-06-30 | 115 | $224.7M | 0 | |
| 2022-03-31 | 117 | $261.9M | 0 | |
| 2021-12-31 | 116 | $270.4M | 0 | |
| 2021-09-30 | 115 | $246.9M | 0 | |
| 2021-06-30 | 111 | $243.8M | 98 | |
| 2021-03-31 | 116 | $233.4M | 15 | |
| 2020-12-31 | 107 | $207.2M | 9 | |
| 2020-09-30 | 105 | $200.3M | 14 | |
| 2020-06-30 | 107 | $180.9M | 25 | |
| 2020-03-31 | 103 | $145.5M | 27 | |
| 2019-12-31 | 121 | $184.9M | 15 | |
| 2019-09-30 | 118 | $174.9M | 11 | |
| 2019-06-30 | 120 | $169.9M | 11 | |
| 2019-03-31 | 114 | $160.9M | 16 | |
| 2018-12-31 | 106 | $137.6M | 19 | |
| 2018-09-30 | 108 | $145.5M | 10 | |
| 2018-06-30 | 107 | $133.5M | 11 | |
| 2018-03-31 | 101 | $126.0M | 18 | |
| 2017-12-31 | 110 | $131.1M | 12 | |
| 2017-09-30 | 110 | $122.3M | 9 | |
| 2017-06-30 | 111 | $118.1M | 8 | |
| 2017-03-31 | 107 | $115.9M | 21 | |
| 2016-12-31 | 304 | $121.8M | 8 | |
| 2016-09-30 | 308 | $119.9M | 11 | |
| 2016-06-30 | 302 | $114.3M | 9 | |
| 2016-03-31 | 301 | $110.5M | 12 | |
| 2015-12-31 | 311 | $108.3M | 0 |
Physicians Financial Services, INC.'s most significant position changes for 2026-03-31: Sold out: Adobe INC (ADBE); New buy: Southern Co/the (SO); Sold out: Intuit INC (INTU); Sold out: Becton Dickinson And Co (BDX); Sold out: Check Point Software Technologies Ltd. (CHKP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CAT | Caterpillar INC | +0.8% | +1.11% | Add |
| 2 | CVX | Chevron CORP | +0.7% | +3.87% | Add |
| 3 | WMT | Walmart INC | +0.7% | +0.29% | Add |
| 4 | COST | Costco Wholesale CORP | +0.4% | +6.71% | Add |
| 5 | DUK | Duke Energy CORP | +0.4% | +16.23% | Add |
| 6 | JNJ | Johnson & Johnson | +0.3% | +1.86% | Add |
| 7 | LMT | Lockheed Martin CORP | +0.3% | +0.18% | Add |
| 8 | GEV | GE Vernova INC | +0.3% | +23.64% | Add |
| 9 | SBUX | Starbucks CORP | +0.2% | +111.39% | Add |
| 10 | DE | Deere & Co | +0.2% | +3.53% | Add |
| 11 | PG | Procter & Gamble Co/the | +0.2% | +12.90% | Add |
| 12 | CMI | Cummins INC | +0.2% | +0.98% | Add |
| 13 | AMGN | Amgen INC | +0.1% | -0.44% | Trim |
| 14 | FDX | Fedex CORP | +0.1% | +1.82% | Add |
| 15 | EQIX | Equinix INC | +0.1% | — | Unchanged |
| 16 | PEP | Pepsico INC | +0.1% | +4.78% | Add |
| 17 | KO | Coca-cola Co/the | +0.1% | +0.10% | Add |
| 18 | APA | Apa CORP | +0.1% | — | Unchanged |
| 19 | HSY | Hershey Co/the | +0.1% | +2.02% | Add |
| 20 | MCD | Mcdonald's CORP | +0.1% | +1.69% | Add |
| 21 | LRCX | Lam Research CORP | +0.1% | — | Unchanged |
| 22 | AMAT | Applied Materials INC | +0.1% | +3.19% | Add |
| 23 | RTX | Rtx CORP | +0.1% | +1.89% | Add |
| 24 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -0.50% | Trim |
| 25 | GOOG | Alphabet Inc-cl C | 0% | — | Unchanged |
| 26 | ETN | Eaton Corporation plc | 0% | -19.36% | Trim |
| 27 | AXP | American Express Co | -0.1% | +3.93% | Add |
| 28 | PLTR | Palantir Technologies Inc-a | -0.1% | -6.55% | Trim |
| 29 | AVGO | Broadcom INC | -0.1% | -0.19% | Trim |
| 30 | IBM | Intl Business Machines CORP | -0.1% | +0.73% | Add |
| 31 | QCOM | Qualcomm INC | -0.2% | +5.30% | Add |
| 32 | V | Visa Inc-class A Shares | -0.2% | -1.95% | Trim |
| 33 | NVDA | Nvidia CORP | -0.2% | +1.17% | Add |
| 34 | META | Meta Platforms Inc-class A | -0.2% | +1.53% | Add |
| 35 | ADP | Automatic Data Processing | -0.3% | +3.74% | Add |
| 36 | ORCL | Oracle CORP | -0.3% | +0.42% | Add |
| 37 | MA | Mastercard INC - A | -0.3% | +0.28% | Add |
| 38 | GOOGL | Alphabet Inc-cl A | -0.4% | -0.11% | Trim |
| 39 | AMZN | Amazon.com INC | -0.5% | -0.26% | Trim |
| 40 | AAPL | Apple INC | -1.1% | -2.22% | Trim |
| 41 | MSFT | Microsoft CORP | -1.1% | +2.62% | Add |
| 42 | ADBE | Adobe INC | — | EXIT | Sold out |
| 43 | SO | Southern Co/the | — | NEW | New buy |
| 44 | INTU | Intuit INC | — | EXIT | Sold out |
| 45 | BDX | Becton Dickinson And Co | — | EXIT | Sold out |
| 46 | CHKP | Check Point Software Technologies Ltd. | — | EXIT | Sold out |
| 47 | TTC | Toro Co | — | NEW | New buy |
| 48 | GPC | Genuine Parts Co | — | EXIT | Sold out |
| 49 | HON | Honeywell International INC | — | NEW | New buy |
| 50 | GIS | General Mills INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-21 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-21 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-02-03 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-31 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-26 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-31 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-26 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-17 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-09 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-19 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-17 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-22 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-02 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-27 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-27 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-21 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-03 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-10 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-28 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-27 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-12 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-22 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-21 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-17 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-01 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-31 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-26 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-17 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-01 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-14 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-26 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
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