CIK: 0001112179
Total reported value
$113.2M
Reporting period: 2015-09-30 · Number of holdings: 55
TREES INVESTMENT COUNSEL LLC disclosed 55 holdings in its latest 13F filing for the period ending 2015-09-30, with total reported value of $113.2M and a quarterly turnover rate of 11.4%.
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Trees Investment Counsel LLC's disclosed holdings carry a Herfindahl concentration index of 0.025 — mathematically equivalent to about 40 equally-sized positions, close to its 55 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.61), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 41% 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.
Trim XBI
+197.2% -$1.1M
Trim SLB
-0.8% -$1.2M
Add V
-0.6% $149.0K
Add 38259P706
0.0% $363.0K
Add NSRGY
-1.7% $77.0K
Add ACN
-0.5% $36.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | V | Visa Inc-class A Shares | Stock-Financials | 4.32% | +0.54% | -0.57% | |
| 2 | SLB | Slb LTD | Stock-Energy | 3.98% | -0.54% | -0.76% | |
| 3 | AEP | American Electric Power Company, Inc. | Stock-Utilities | 3.47% | +0.16% | -0.51% | |
| 4 | NSRGY | Nestle Sa-spons Adr | Stock-Other | 3.34% | +0.38% | -1.66% | |
| 5 | DIS | Walt Disney Co/the | Stock-Comm Services | 3.27% | -0.08% | -1.76% | |
| 6 | ACN | Accenture plc | Stock-Tech | 3.26% | +0.35% | -0.53% | |
| 7 | WBA | Walgreens Boots Alliance INC | Stock-Other | 3.10% | +0.18% | -2.75% | |
| 8 | MMM | 3m Co | Stock-Industrials | 3.05% | +0.04% | -0.41% | |
| 9 | WFC | Wells Fargo & Co | Stock-Financials | 3.04% | +0.01% | -0.89% | |
| 10 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.98% | +0.16% | -0.39% | |
| 11 | PEP | Pepsico INC | Stock-Consumer Staples | 2.89% | +0.31% | — | |
| 12 | AAPL | Apple INC | Stock-Tech | 2.81% | -0.07% | — | |
| 13 | ECL | Ecolab INC | Stock-Materials | 2.80% | +0.13% | -2.53% | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.73% | +0.15% | -0.30% | |
| 15 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.71% | -0.02% | -0.40% | |
| 16 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 2.66% | -0.61% | +197.24% | |
| 17 | NVS | Novartis Ag-sponsored Adr | Stock-Healthcare | 2.55% | +0.05% | -1.57% | |
| 18 | ROK | Rockwell Automation, Inc. | Stock-Industrials | 2.50% | -0.05% | — | |
| 19 | OMC | Omnicom Group | Stock-Comm Services | 2.28% | +0.07% | -1.51% | |
| 20 | ITW | Illinois Tool Works | Stock-Industrials | 2.28% | -0.02% | — | |
| 21 | ✓ | Google INC Class C | Stock-Other | 2.22% | +0.51% | — | |
| 22 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 2.11% | +0.09% | — | |
| 23 | ORCL | Oracle CORP | Stock-Tech | 2.09% | -0.02% | — | |
| 24 | QCOM | Qualcomm INC | Stock-Tech | 2.06% | -0.11% | — | |
| 25 | XOM | Exxon Mobil CORP | Stock-Energy | 2.05% | -0.02% | -0.32% | |
| 26 | VZ | Verizon Communications INC | Stock-Comm Services | 2.04% | +0.07% | — | |
| 27 | PFE | Pfizer INC | Stock-Healthcare | 1.96% | +0.06% | -0.94% | |
| 28 | AMT | American Tower CORP | Stock-Real Estate | 1.89% | +0.08% | — | |
| 29 | NTRS | Northern Trust CORP | Stock-Financials | 1.88% | -0.02% | — | |
| 30 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 1.79% | +0.10% | — | |
| 31 | ✓ | Eg Dj Emrg Mkt Cnsumr Tita | Stock-Other | 1.70% | -0.14% | — | |
| 32 | ✓ | Ega Emerging Global Shs Tr | Stock-Other | 1.65% | -0.14% | — | |
| 33 | ✓ | MarkWest Energy | Stock-Other | 1.44% | -0.26% | — | |
| 34 | LYB | LyondellBasell Industries N.V. | Stock-Materials | 1.42% | -0.17% | — | |
| 35 | DE | Deere & Co | Stock-Industrials | 1.38% | -0.26% | — | |
| 36 | VOD | Vodafone Group Plc-sp Adr | Stock-Comm Services | 1.29% | -0.04% | — | |
| 37 | APD | Air Products & Chemicals INC | Stock-Materials | 1.26% | — | -3.46% | |
| 38 | ✓ | Stock-Other | 1.25% | -0.16% | — | ||
| 39 | EOG | Eog Resources INC | Stock-Energy | 1.04% | -0.09% | — | |
| 40 | ✓ | Stock-Other | 1.00% | -0.17% | — | ||
| 41 | NOVEUR | National Oilwell Varco INC | Stock-Other | 0.89% | -0.14% | — | |
| 42 | ABT | Abbott Laboratories | Stock-Healthcare | 0.85% | -0.08% | — | |
| 43 | BXUSD | Blackstone Group Lp/the | Stock-Other | 0.74% | -0.12% | — | |
| 44 | MSFT | Microsoft CORP | Stock-Tech | 0.66% | +0.04% | -3.62% | |
| 45 | NOSIX | Northern Stock Index Fund | Stock-Other | 0.56% | +0.01% | — | |
| 46 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.52% | -0.02% | — | |
| 47 | ABBV | Abbvie INC | Stock-Healthcare | 0.42% | -0.04% | — | |
| 48 | NOINX | Northern Intl Eqty Indx | Stock-Other | 0.41% | — | — | |
| 49 | MDU | Mdu Resources Group INC | Stock-Utilities | 0.27% | -0.05% | -12.88% | |
| 50 | BP | Bp Plc-spons Adr | Stock-Energy | 0.26% | -0.04% | — |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2015-09-30 | 55 | $113.2M | 11 | |
| 2015-06-30 | 55 | $125.5M | 10 | |
| 2015-03-31 | 53 | $123.7M | 7 | |
| 2014-12-31 | 54 | $124.2M | 20 | |
| 2014-09-30 | 57 | $123.7M | 9 | |
| 2014-06-30 | 57 | $127.3M | 10 | |
| 2014-03-31 | 57 | $124.9M | 11 | |
| 2013-12-31 | 57 | $125.8M | 18 | |
| 2013-09-30 | 56 | $114.9M | 29 | |
| 2013-06-30 | 55 | $109.1M | 0 |
Trees Investment Counsel LLC's most significant position changes for 2015-09-30: Add: Ss Spdr S&p Biotech ETF (XBI) — shares +197.24%; Trim: Slb LTD (SLB) — shares -0.76%; Trim: Visa Inc-class A Shares (V) — shares -0.57%; Trim: Nestle Sa-spons Adr (NSRGY) — shares -1.66%; Trim: Accenture plc (ACN) — shares -0.53%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | V | Visa Inc-class A Shares | +0.5% | -0.57% | Trim |
| 2 | ✓ | Google INC Class C | +0.5% | — | Unchanged |
| 3 | NSRGY | Nestle Sa-spons Adr | +0.4% | -1.66% | Trim |
| 4 | ACN | Accenture plc | +0.4% | -0.53% | Trim |
| 5 | PEP | Pepsico INC | +0.3% | — | Unchanged |
| 6 | WBA | Walgreens Boots Alliance INC | +0.2% | -2.75% | Trim |
| 7 | AEP | American Electric Power Company, Inc. | +0.2% | -0.51% | Trim |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | +0.2% | -0.39% | Trim |
| 9 | JNJ | Johnson & Johnson | +0.2% | -0.30% | Trim |
| 10 | ECL | Ecolab INC | +0.1% | -2.53% | Trim |
| 11 | TEVA | Teva Pharmaceutical-sp Adr | +0.1% | — | Unchanged |
| 12 | CMCSA | Comcast Corp-class A | +0.1% | — | Unchanged |
| 13 | AMT | American Tower CORP | +0.1% | — | Unchanged |
| 14 | OMC | Omnicom Group | +0.1% | -1.51% | Trim |
| 15 | VZ | Verizon Communications INC | +0.1% | — | Unchanged |
| 16 | PFE | Pfizer INC | +0.1% | -0.94% | Trim |
| 17 | NVS | Novartis Ag-sponsored Adr | +0.1% | -1.57% | Trim |
| 18 | MMM | 3m Co | 0% | -0.41% | Trim |
| 19 | MSFT | Microsoft CORP | 0% | -3.62% | Trim |
| 20 | WFC | Wells Fargo & Co | 0% | -0.89% | Trim |
| 21 | NOSIX | Northern Stock Index Fund | 0% | — | Unchanged |
| 22 | APD | Air Products & Chemicals INC | — | -3.46% | Trim |
| 23 | NOINX | Northern Intl Eqty Indx | — | — | Unchanged |
| 24 | JPM | Jpmorgan Chase & Co | 0% | -0.40% | Trim |
| 25 | ITW | Illinois Tool Works | 0% | — | Unchanged |
| 26 | XOM | Exxon Mobil CORP | 0% | -0.32% | Trim |
| 27 | ORCL | Oracle CORP | 0% | — | Unchanged |
| 28 | NTRS | Northern Trust CORP | 0% | — | Unchanged |
| 29 | MRK | Merck & Co. INC. | 0% | — | Unchanged |
| 30 | VOD | Vodafone Group Plc-sp Adr | 0% | — | Unchanged |
| 31 | ABBV | Abbvie INC | 0% | — | Unchanged |
| 32 | BP | Bp Plc-spons Adr | 0% | — | Unchanged |
| 33 | ROK | Rockwell Automation, Inc. | -0.1% | — | Unchanged |
| 34 | MDU | Mdu Resources Group INC | -0.1% | -12.88% | Trim |
| 35 | AAPL | Apple INC | -0.1% | — | Unchanged |
| 36 | DIS | Walt Disney Co/the | -0.1% | -1.76% | Trim |
| 37 | ABT | Abbott Laboratories | -0.1% | — | Unchanged |
| 38 | EOG | Eog Resources INC | -0.1% | — | Unchanged |
| 39 | QCOM | Qualcomm INC | -0.1% | — | Unchanged |
| 40 | BXUSD | Blackstone Group Lp/the | -0.1% | — | Unchanged |
| 41 | ✓ | Eg Dj Emrg Mkt Cnsumr Tita | -0.1% | — | Unchanged |
| 42 | ✓ | Ega Emerging Global Shs Tr | -0.1% | — | Unchanged |
| 43 | NOVEUR | National Oilwell Varco INC | -0.1% | — | Unchanged |
| 44 | ✓ | -0.2% | — | Unchanged | |
| 45 | LYB | LyondellBasell Industries N.V. | -0.2% | — | Unchanged |
| 46 | ✓ | -0.2% | — | Unchanged | |
| 47 | ✓ | MarkWest Energy | -0.3% | — | Unchanged |
| 48 | DE | Deere & Co | -0.3% | — | Unchanged |
| 49 | SLB | Slb LTD | -0.5% | -0.76% | Trim |
| 50 | XBI | Ss Spdr S&p Biotech ETF | -0.6% | +197.24% | Add |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2015-09-30 | 2015-10-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-04 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-22 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-20 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-23 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-23 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-24 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-23 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-22 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-24 | 13F-HR | View on EDGAR |
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