ICW Investment Advisors LLC Investment Portfolio — 13F Data

CIK: 0001794820

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$276.6M

Reporting period: 2026-03-31 · Number of holdings: 147

ICW Investment Advisors LLC disclosed 147 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $276.6M and a quarterly turnover rate of 13.1%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "I"

Personality snowflake

Concentration: 4.68
Portfolio Stability: 13.06
Momentum/Contrarian: 100
Sector conviction: 39.74
Diversification: 100
Sizing Uniformity: 91.49

ICW Investment Advisors LLC's disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 86 equally-sized positions, well below its 147 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 0.85), 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.

Recent moves

Trim LLY
-40.9%　-$3.0M
Trim MSFT
+5.2%　-$1.5M
Add CASY
-2.5%　$1.4M
Add XOM
+0.7%　$1.3M
Add COST
+4.1%　$956.4K
Trim SPY
-22.5%　-$860.8K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	AAPL	Apple INC	Stock-Tech	2.58%	-0.16%	+1.56%
2	MSFT	Microsoft CORP	Stock-Tech	2.32%	-0.57%	+5.22%
3	CASY	Casey's General Stores INC	Stock-Consumer Disc	2.28%	+0.49%	-2.47%
4	AVGO	Broadcom INC	Stock-Tech	2.10%	-0.21%	+2.42%
5	NVDA	Nvidia CORP	Stock-Tech	2.09%	—	+8.56%
6	COST	Costco Wholesale CORP	Stock-Consumer Staples	2.05%	+0.33%	+4.09%
7	MA	Mastercard INC - A	Stock-Financials	1.91%	-0.25%	+1.70%
8	ABBV	Abbvie INC	Stock-Healthcare	1.91%	-0.12%	-0.76%
9	V	Visa Inc-class A Shares	Stock-Financials	1.88%	-0.25%	+2.73%
10	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.86%	-0.11%	+3.33%
11	AMZN	Amazon.com INC	Stock-Consumer Disc	1.84%	+0.08%	+16.04%
12	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	1.83%	-0.25%	-7.30%
13	ORLY	O'reilly Automotive INC	Stock-Consumer Disc	1.76%	—	+1.51%
14	WMT	Walmart INC	Stock-Consumer Staples	1.74%	+0.14%	-2.15%
15	XOM	Exxon Mobil CORP	Stock-Energy	1.56%	+0.45%	+0.66%
16	JNJ	Johnson & Johnson	Stock-Healthcare	1.53%	+0.19%	-2.60%
17	COR	Cencora INC	Stock-Healthcare	1.50%	-0.13%	-0.60%
18	TJX	Tjx Companies INC	Stock-Consumer Disc	1.45%	—	-0.62%
19	NOC	Northrop Grumman CORP	Stock-Industrials	1.43%	+0.20%	-2.47%
20	ROST	Ross Stores INC	Stock-Consumer Disc	1.42%	+0.21%	-2.16%
21	LIN	Linde plc	Stock-Materials	1.38%	+0.22%	+3.30%
22	PEP	Pepsico INC	Stock-Consumer Staples	1.34%	+0.14%	+4.33%
23	LMT	Lockheed Martin CORP	Stock-Industrials	1.33%	+0.26%	-0.28%
24	SHW	Sherwin-williams Co/the	Stock-Materials	1.22%	—	+1.71%
25	MCD	Mcdonald's CORP	Stock-Consumer Disc	1.22%	—	+1.33%
26	FAST	Fastenal Co	Stock-Industrials	1.21%	+0.17%	+1.07%
27	HD	Home Depot INC	Stock-Consumer Disc	1.19%	—	+0.97%
28	AMGN	Amgen INC	Stock-Healthcare	1.16%	—	-0.81%
29	CVX	Chevron CORP	Stock-Energy	1.14%	+0.24%	-5.52%
30	LLY	Eli Lilly & Co	Stock-Healthcare	1.11%	-1.10%	-40.92%
31	ABT	Abbott Laboratories	Stock-Healthcare	1.10%	-0.22%	+1.51%
32	YUM	Yum! Brands INC	Stock-Consumer Disc	1.08%	—	+3.11%
33	GD	General Dynamics CORP	Stock-Industrials	1.07%	—	-0.39%
34	LHX	L3harris Technologies INC	Stock-Industrials	1.05%	+0.14%	-1.69%
35	RTX	Rtx CORP	Stock-Industrials	1.04%	+0.09%	+4.02%
36	ADP	Automatic Data Processing	Stock-Tech	1.01%	-0.24%	+3.23%
37	RMD	Resmed INC	Stock-Healthcare	0.98%	—	+4.89%
38	KO	Coca-cola Co/the	Stock-Consumer Staples	0.97%	+0.07%	-0.32%
39	ITW	Illinois Tool Works	Stock-Industrials	0.90%	—	+0.64%
40	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.89%	—	+6.50%
41	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.88%	-0.32%	-22.51%
42	HSY	Hershey Co/the	Stock-Consumer Staples	0.86%	+0.11%	+0.90%
43	NEE	Nextera Energy INC	Stock-Utilities	0.86%	+0.18%	+8.70%
44	DGX	Quest Diagnostics INC	Stock-Healthcare	0.84%	+0.11%	+2.23%
45	APH	Amphenol Corp-cl A	Stock-Tech	0.82%	—	+2.67%
46	CHD	Church & Dwight Co INC	Stock-Consumer Staples	0.81%	+0.09%	+1.48%
47	O	Realty Income CORP	Stock-Real Estate	0.80%	—	+0.94%
48	DOV	Dover CORP	Stock-Industrials	0.79%	—	-1.32%
49	DCI	Donaldson Co INC	Stock-Industrials	0.75%	—	-1.53%
50	BCPC	Balchem CORP	Stock-Materials	0.73%	—	-0.72%

1–50 of 147

Portfolio Performance

Performance for Q3 2026

+2.4%

Performance Last 4 Quarters

+12.4%

Based on 76% of reported portfolio value with available pricing

Stdev: +10.4%
Beta: +0.63
Alpha: -0.6%
Max Drawdown: -6.5%
Annualized Perf: +11%
Batting Avg vs S&P: +38.9%
Sortino: +1.79
Stutzer: +0.3
Treynor: +0.17
Sterling: +0.69
Calmar: +1.71
Information Ratio: -0.94
Tracking Error: +7.9%
Stdev Down: +6.2%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +28.7%
Worst 12 Months: +3.9%
Efficiency Ratio: +0.38
Sharpe: +1.06
Stdev Sectors: +6.1%
Skewness: -0.44
Kurtosis: -0.37
Upside Potential: +3.49

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	147	$276.6M	13	1AAPL 2MSFT 3CASY Top holdings2026-03-31 1.AAPL 2.MSFT 3.CASY 4.AVGO 5.NVDA 6.COST 7.MA 8.ABBV 9.V 10.GOOGL
2025-12-31	145	$275.0M	11	1MSFT 2AAPL 3AVGO Top holdings2025-12-31 1.MSFT 2.AAPL 3.AVGO 4.LLY 5.MA 6.V 7.VOO 8.NVDA 9.ABBV 10.GOOGL
2025-09-30	144	$278.0M	18	1MSFT 2LLY 3AAPL Top holdings2025-09-30 1.MSFT 2.LLY 3.AAPL 4.AVGO 5.MA 6.ABBV 7.ORLY 8.VOO 9.V 10.COST
2025-06-30	140	$253.2M	0	1MSFT 2MA 3V Top holdings2025-06-30 1.MSFT 2.MA 3.V 4.COST 5.AAPL 6.VOO 7.ORLY 8.AVGO 9.LLY 10.CASY
2025-03-31	140	$245.5M	100	1MSFT 2V 3AAPL Top holdings2025-03-31 1.MSFT 2.V 3.AAPL 4.MA 5.LLY 6.COST 7.ORLY 8.ABBV 9.VOO 10.CASY
2024-12-31	139	$239.6M	0	1MSFT 2AAPL 3MA Top holdings2024-12-31 1.MSFT 2.AAPL 3.MA 4.COST 5.V 6.LLY 7.VOO 8.ORLY 9.ABBV 10.AVGO
2024-09-30	139	$240.3M	0	1MSFT 2AAPL 3COST Top holdings2024-09-30 1.MSFT 2.AAPL 3.COST 4.MA 5.VOO 6.NVO 7.ABBV 8.ORLY 9.V 10.HD
2024-06-30	137	$220.3M	0	1MSFT 2NVO 3AAPL Top holdings2024-06-30 1.MSFT 2.NVO 3.AAPL 4.COST 5.VOO 6.MA 7.ABBV 8.V 9.ORLY 10.CASY
2024-03-31	137	$224.9M	0	1MSFT 2NVO 3MA Top holdings2024-03-31 1.MSFT 2.NVO 3.MA 4.ABBV 5.V 6.ORLY 7.COST 8.VOO 9.AAPL 10.HD
2023-12-31	138	$205.4M	0	1MSFT 2AAPL 3MA Top holdings2023-12-31 1.MSFT 2.AAPL 3.MA 4.NVO 5.V 6.COST 7.ABBV 8.VOO 9.ORLY 10.HD
2023-09-30	135	$186.2M	0	1MSFT 2AAPL 3MA Top holdings2023-09-30 1.MSFT 2.AAPL 3.MA 4.NVO 5.V 6.ORLY 7.ABBV 8.COST 9.VOO 10.PEP
2023-06-30	131	$186.3M	0	1MSFT 2AAPL 3MA Top holdings2023-06-30 1.MSFT 2.AAPL 3.MA 4.ORLY 5.V 6.PEP 7.NVO 8.ABBV 9.HD 10.COST
2023-03-31	128	$176.1M	0	1MSFT 2AAPL 3MA Top holdings2023-03-31 1.MSFT 2.AAPL 3.MA 4.ABBV 5.V 6.PEP 7.NVO 8.ORLY 9.HD 10.COST
2022-12-31	124	$166.5M	0	1ABBV 2MA 3ORLY Top holdings2022-12-31 1.ABBV 2.MA 3.ORLY 4.PEP 5.V 6.MSFT 7.NOC 8.HD 9.NVO 10.AAPL
2022-09-30	122	$149.0M	0	1MSFT 2AAPL 3ABBV Top holdings2022-09-30 1.MSFT 2.AAPL 3.ABBV 4.PEP 5.MA 6.ORLY 7.V 8.NOC 9.ADP 10.HD
2022-06-30	128	$157.1M	0	1MSFT 2ABBV 3MA Top holdings2022-06-30 1.MSFT 2.ABBV 3.MA 4.AAPL 5.V 6.PEP 7.ABT 8.NOC 9.COST 10.HD
2022-03-31	132	$173.7M	0	1MSFT 2AAPL 3ABBV Top holdings2022-03-31 1.MSFT 2.AAPL 3.ABBV 4.MA 5.V 6.COST 7.PEP 8.ABT 9.ORLY 10.HD
2021-12-31	134	$179.1M	0	1MSFT 2AAPL 3HD Top holdings2021-12-31 1.MSFT 2.AAPL 3.HD 4.MA 5.ABT 6.V 7.SHW 8.COST 9.PEP 10.ABBV
2021-09-30	132	$154.9M	0	1MSFT 2MA 3V Top holdings2021-09-30 1.MSFT 2.MA 3.V 4.AAPL 5.HD 6.ABT 7.RMD 8.PEP 9.TGT 10.SHW
2021-06-30	124	$153.2M	100	1MSFT 2MA 3V Top holdings2021-06-30 1.MSFT 2.MA 3.V 4.AAPL 5.HD 6.ABT 7.TGT 8.PEP 9.ABBV 10.RMD
2021-03-31	126	$145.6M	9	1MA 2MSFT 3V Top holdings2021-03-31 1.MA 2.MSFT 3.V 4.ABT 5.AAPL 6.HD 7.PEP 8.ABBV 9.SHW 10.TGT
2020-12-31	127	$139.8M	9	1MA 2V 3MSFT Top holdings2020-12-31 1.MA 2.V 3.MSFT 4.AAPL 5.ABT 6.PEP 7.HD 8.ABBV 9.NKE 10.SHW
2020-09-30	124	$133.5M	12	1MA 2MSFT 3V Top holdings2020-09-30 1.MA 2.MSFT 3.V 4.AAPL 5.ABT 6.HD 7.PEP 8.SHW 9.NKE 10.CHD
2020-06-30	124	$123.0M	17	1MA 2MSFT 3V Top holdings2020-06-30 1.MA 2.MSFT 3.V 4.HD 5.ABT 6.PEP 7.AAPL 8.ABBV 9.RMD 10.CLX
2020-03-31	115	$105.3M	19	1MA 2V 3MSFT Top holdings2020-03-31 1.MA 2.V 3.MSFT 4.PEP 5.ABT 6.HD 7.ABBV 8.BDX 9.NOC 10.AAPL
2019-12-31	185	$123.3M	—	1MA 2V 3MSFT Top holdings2019-12-31 1.MA 2.V 3.MSFT 4.PEP 5.ABT 6.HD 7.BDX 8.ADP 9.ABBV 10.ROST

Holding changes this quarter

ICW Investment Advisors LLC's most significant position changes for 2026-03-31: New buy: Berkshire Hathaway Inc-cl B (BRK-B); Sold out: Astrazeneca Plc-spons Adr (AZNN); New buy: Waters CORP (WAT); Sold out: Elevance Health INC (ELV); Trim: Eli Lilly & Co (LLY) — shares -40.92%.

Position changes disclosed by ICW Investment Advisors LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	CASY	Casey's General Stores INC	+0.5%	-2.47%	Trim
2	XOM	Exxon Mobil CORP	+0.5%	+0.66%	Add
3	COST	Costco Wholesale CORP	+0.3%	+4.09%	Add
4	LMT	Lockheed Martin CORP	+0.3%	-0.28%	Trim
5	CVX	Chevron CORP	+0.2%	-5.52%	Trim
6	LIN	Linde plc	+0.2%	+3.30%	Add
7	ROST	Ross Stores INC	+0.2%	-2.16%	Trim
8	NOC	Northrop Grumman CORP	+0.2%	-2.47%	Trim
9	JNJ	Johnson & Johnson	+0.2%	-2.60%	Trim
10	NEE	Nextera Energy INC	+0.2%	+8.70%	Add
11	FAST	Fastenal Co	+0.2%	+1.07%	Add
12	PEP	Pepsico INC	+0.1%	+4.33%	Add
13	WMT	Walmart INC	+0.1%	-2.15%	Trim
14	LHX	L3harris Technologies INC	+0.1%	-1.69%	Trim
15	APD	Air Products & Chemicals INC	+0.1%	+7.41%	Add
16	HSY	Hershey Co/the	+0.1%	+0.90%	Add
17	DGX	Quest Diagnostics INC	+0.1%	+2.23%	Add
18	SO	Southern Co/the	+0.1%	+4.51%	Add
19	CHD	Church & Dwight Co INC	+0.1%	+1.48%	Add
20	RTX	Rtx CORP	+0.1%	+4.02%	Add
21	TGT	Target CORP	+0.1%	-2.49%	Trim
22	WEC	Wec Energy Group INC	+0.1%	+4.64%	Add
23	AMZN	Amazon.com INC	+0.1%	+16.04%	Add
24	KO	Coca-cola Co/the	+0.1%	-0.32%	Trim
25	GIS	General Mills INC	-0.1%	+1.15%	Add
26	FDS	Factset Research Systems INC	-0.1%	+11.47%	Add
27	NKE	Nike INC -cl B	-0.1%	-4.52%	Trim
28	BDX	Becton Dickinson And Co	-0.1%	+5.05%	Add
29	QCOM	Qualcomm INC	-0.1%	+3.20%	Add
30	GOOGL	Alphabet Inc-cl A	-0.1%	+3.33%	Add
31	INTU	Intuit INC	-0.1%	+7.54%	Add
32	ABBV	Abbvie INC	-0.1%	-0.76%	Trim
33	ACN	Accenture plc	-0.1%	+4.33%	Add
34	COR	Cencora INC	-0.1%	-0.60%	Trim
35	MKC	Mccormick & Co-non Vtg Shrs	-0.1%	+4.52%	Add
36	AAPL	Apple INC	-0.2%	+1.56%	Add
37	AVGO	Broadcom INC	-0.2%	+2.42%	Add
38	ABT	Abbott Laboratories	-0.2%	+1.51%	Add
39	NVO	Novo-nordisk A/s-spons Adr	-0.2%	+0.90%	Add
40	ADP	Automatic Data Processing	-0.2%	+3.23%	Add
41	V	Visa Inc-class A Shares	-0.3%	+2.73%	Add
42	VOO	Vanguard S&p 500 ETF	-0.3%	-7.30%	Trim
43	MA	Mastercard INC - A	-0.3%	+1.70%	Add
44	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.3%	-22.51%	Trim
45	MSFT	Microsoft CORP	-0.6%	+5.22%	Add
46	LLY	Eli Lilly & Co	-1.1%	-40.92%	Trim
47	BRK-B	Berkshire Hathaway Inc-cl B	—	NEW	New buy
48	AZNN	Astrazeneca Plc-spons Adr	—	EXIT	Sold out
49	WAT	Waters CORP	—	NEW	New buy
50	ELV	Elevance Health INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-11	13F-HR	View on EDGAR
2025-12-31	2026-02-09	13F-HR	View on EDGAR
2025-09-30	2025-11-06	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-11	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-05	13F-HR	View on EDGAR
2024-03-31	2024-05-09	13F-HR	View on EDGAR
2023-12-31	2024-02-05	13F-HR	View on EDGAR
2023-09-30	2023-11-13	13F-HR	View on EDGAR
2023-06-30	2023-08-09	13F-HR	View on EDGAR
2023-03-31	2023-05-10	13F-HR	View on EDGAR
2022-12-31	2023-01-26	13F-HR	View on EDGAR
2022-09-30	2022-11-04	13F-HR	View on EDGAR
2022-06-30	2022-08-11	13F-HR	View on EDGAR
2022-03-31	2022-05-12	13F-HR	View on EDGAR
2021-12-31	2022-02-03	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-05	13F-HR	View on EDGAR
2021-03-31	2021-05-07	13F-HR	View on EDGAR
2020-12-31	2021-02-01	13F-HR	View on EDGAR
2020-09-30	2020-11-10	13F-HR	View on EDGAR
2020-06-30	2020-08-13	13F-HR	View on EDGAR
2020-03-31	2020-05-12	13F-HR	View on EDGAR
2019-12-31	2020-02-06	13F-HR	View on EDGAR

FAQ

What is ICW Investment Advisors LLC and what type of investor is it?

ICW Investment Advisors LLC 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 (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $276.6M, spread across 147 disclosed positions.

What are ICW Investment Advisors LLC's largest equity positions?

Based on the latest 13F filing, ICW Investment Advisors LLC's top holdings by market value are: 1. Apple INC (AAPL) — $7.1M (2.6%) 2. Microsoft CORP (MSFT) — $6.4M (2.3%) 3. Casey's General Stores INC (CASY) — $6.3M (2.3%) 4. Broadcom INC (AVGO) — $5.8M (2.1%) 5. Nvidia CORP (NVDA) — $5.8M (2.1%)

What changes did ICW Investment Advisors LLC make in its most recent portfolio filing?

In the latest reported quarter, ICW Investment Advisors LLC made 50 notable position adjustments: 2 new positions were initiated, 30 existing holdings were added to, 16 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Berkshire Hathaway Inc-cl B (BRK-B); Sold out: Astrazeneca Plc-spons Adr (AZNN); New buy: Waters CORP (WAT); Sold out: Elevance Health INC (ELV); Trim: Eli Lilly & Co (LLY) — shares -40.92%

What sectors does ICW Investment Advisors LLC focus on?

ICW Investment Advisors LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Industrials: 17.0% • Consumer Discretionary: 16.1% • Information Technology: 15.5% • Health Care: 15.5% • Consumer Staples: 14.2% • Financials: 6.2%

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ICW Investment Advisors LLC Investment Portfolio — 13F Data

CIK: 0001794820

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$276.6M

Reporting period: 2026-03-31 · Number of holdings: 147

ICW Investment Advisors LLC disclosed 147 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $276.6M and a quarterly turnover rate of 13.1%.

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Personality snowflake

Concentration: 4.68
Portfolio Stability: 13.06
Momentum/Contrarian: 100
Sector conviction: 39.74
Diversification: 100
Sizing Uniformity: 91.49

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.85), 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.

Recent moves

Trim LLY
-40.9%　-$3.0M
Trim MSFT
+5.2%　-$1.5M
Add CASY
-2.5%　$1.4M
Add XOM
+0.7%　$1.3M
Add COST
+4.1%　$956.4K
Trim SPY
-22.5%　-$860.8K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	AAPL	Apple INC	Stock-Tech	2.58%	-0.16%	+1.56%
2	MSFT	Microsoft CORP	Stock-Tech	2.32%	-0.57%	+5.22%
3	CASY	Casey's General Stores INC	Stock-Consumer Disc	2.28%	+0.49%	-2.47%
4	AVGO	Broadcom INC	Stock-Tech	2.10%	-0.21%	+2.42%
5	NVDA	Nvidia CORP	Stock-Tech	2.09%	—	+8.56%
6	COST	Costco Wholesale CORP	Stock-Consumer Staples	2.05%	+0.33%	+4.09%
7	MA	Mastercard INC - A	Stock-Financials	1.91%	-0.25%	+1.70%
8	ABBV	Abbvie INC	Stock-Healthcare	1.91%	-0.12%	-0.76%
9	V	Visa Inc-class A Shares	Stock-Financials	1.88%	-0.25%	+2.73%
10	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.86%	-0.11%	+3.33%
11	AMZN	Amazon.com INC	Stock-Consumer Disc	1.84%	+0.08%	+16.04%
12	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	1.83%	-0.25%	-7.30%
13	ORLY	O'reilly Automotive INC	Stock-Consumer Disc	1.76%	—	+1.51%
14	WMT	Walmart INC	Stock-Consumer Staples	1.74%	+0.14%	-2.15%
15	XOM	Exxon Mobil CORP	Stock-Energy	1.56%	+0.45%	+0.66%
16	JNJ	Johnson & Johnson	Stock-Healthcare	1.53%	+0.19%	-2.60%
17	COR	Cencora INC	Stock-Healthcare	1.50%	-0.13%	-0.60%
18	TJX	Tjx Companies INC	Stock-Consumer Disc	1.45%	—	-0.62%
19	NOC	Northrop Grumman CORP	Stock-Industrials	1.43%	+0.20%	-2.47%
20	ROST	Ross Stores INC	Stock-Consumer Disc	1.42%	+0.21%	-2.16%
21	LIN	Linde plc	Stock-Materials	1.38%	+0.22%	+3.30%
22	PEP	Pepsico INC	Stock-Consumer Staples	1.34%	+0.14%	+4.33%
23	LMT	Lockheed Martin CORP	Stock-Industrials	1.33%	+0.26%	-0.28%
24	SHW	Sherwin-williams Co/the	Stock-Materials	1.22%	—	+1.71%
25	MCD	Mcdonald's CORP	Stock-Consumer Disc	1.22%	—	+1.33%
26	FAST	Fastenal Co	Stock-Industrials	1.21%	+0.17%	+1.07%
27	HD	Home Depot INC	Stock-Consumer Disc	1.19%	—	+0.97%
28	AMGN	Amgen INC	Stock-Healthcare	1.16%	—	-0.81%
29	CVX	Chevron CORP	Stock-Energy	1.14%	+0.24%	-5.52%
30	LLY	Eli Lilly & Co	Stock-Healthcare	1.11%	-1.10%	-40.92%
31	ABT	Abbott Laboratories	Stock-Healthcare	1.10%	-0.22%	+1.51%
32	YUM	Yum! Brands INC	Stock-Consumer Disc	1.08%	—	+3.11%
33	GD	General Dynamics CORP	Stock-Industrials	1.07%	—	-0.39%
34	LHX	L3harris Technologies INC	Stock-Industrials	1.05%	+0.14%	-1.69%
35	RTX	Rtx CORP	Stock-Industrials	1.04%	+0.09%	+4.02%
36	ADP	Automatic Data Processing	Stock-Tech	1.01%	-0.24%	+3.23%
37	RMD	Resmed INC	Stock-Healthcare	0.98%	—	+4.89%
38	KO	Coca-cola Co/the	Stock-Consumer Staples	0.97%	+0.07%	-0.32%
39	ITW	Illinois Tool Works	Stock-Industrials	0.90%	—	+0.64%
40	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.89%	—	+6.50%
41	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.88%	-0.32%	-22.51%
42	HSY	Hershey Co/the	Stock-Consumer Staples	0.86%	+0.11%	+0.90%
43	NEE	Nextera Energy INC	Stock-Utilities	0.86%	+0.18%	+8.70%
44	DGX	Quest Diagnostics INC	Stock-Healthcare	0.84%	+0.11%	+2.23%
45	APH	Amphenol Corp-cl A	Stock-Tech	0.82%	—	+2.67%
46	CHD	Church & Dwight Co INC	Stock-Consumer Staples	0.81%	+0.09%	+1.48%
47	O	Realty Income CORP	Stock-Real Estate	0.80%	—	+0.94%
48	DOV	Dover CORP	Stock-Industrials	0.79%	—	-1.32%
49	DCI	Donaldson Co INC	Stock-Industrials	0.75%	—	-1.53%
50	BCPC	Balchem CORP	Stock-Materials	0.73%	—	-0.72%

1–50 of 147

Portfolio Performance

Performance for Q3 2026

+2.4%

Performance Last 4 Quarters

+12.4%

Based on 76% of reported portfolio value with available pricing

Stdev: +10.4%
Beta: +0.63
Alpha: -0.6%
Max Drawdown: -6.5%
Annualized Perf: +11%
Batting Avg vs S&P: +38.9%
Sortino: +1.79
Stutzer: +0.3
Treynor: +0.17
Sterling: +0.69
Calmar: +1.71
Information Ratio: -0.94
Tracking Error: +7.9%
Stdev Down: +6.2%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +28.7%
Worst 12 Months: +3.9%
Efficiency Ratio: +0.38
Sharpe: +1.06
Stdev Sectors: +6.1%
Skewness: -0.44
Kurtosis: -0.37
Upside Potential: +3.49

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	147	$276.6M	13	1AAPL 2MSFT 3CASY Top holdings2026-03-31 1.AAPL 2.MSFT 3.CASY 4.AVGO 5.NVDA 6.COST 7.MA 8.ABBV 9.V 10.GOOGL
2025-12-31	145	$275.0M	11	1MSFT 2AAPL 3AVGO Top holdings2025-12-31 1.MSFT 2.AAPL 3.AVGO 4.LLY 5.MA 6.V 7.VOO 8.NVDA 9.ABBV 10.GOOGL
2025-09-30	144	$278.0M	18	1MSFT 2LLY 3AAPL Top holdings2025-09-30 1.MSFT 2.LLY 3.AAPL 4.AVGO 5.MA 6.ABBV 7.ORLY 8.VOO 9.V 10.COST
2025-06-30	140	$253.2M	0	1MSFT 2MA 3V Top holdings2025-06-30 1.MSFT 2.MA 3.V 4.COST 5.AAPL 6.VOO 7.ORLY 8.AVGO 9.LLY 10.CASY
2025-03-31	140	$245.5M	100	1MSFT 2V 3AAPL Top holdings2025-03-31 1.MSFT 2.V 3.AAPL 4.MA 5.LLY 6.COST 7.ORLY 8.ABBV 9.VOO 10.CASY
2024-12-31	139	$239.6M	0	1MSFT 2AAPL 3MA Top holdings2024-12-31 1.MSFT 2.AAPL 3.MA 4.COST 5.V 6.LLY 7.VOO 8.ORLY 9.ABBV 10.AVGO
2024-09-30	139	$240.3M	0	1MSFT 2AAPL 3COST Top holdings2024-09-30 1.MSFT 2.AAPL 3.COST 4.MA 5.VOO 6.NVO 7.ABBV 8.ORLY 9.V 10.HD
2024-06-30	137	$220.3M	0	1MSFT 2NVO 3AAPL Top holdings2024-06-30 1.MSFT 2.NVO 3.AAPL 4.COST 5.VOO 6.MA 7.ABBV 8.V 9.ORLY 10.CASY
2024-03-31	137	$224.9M	0	1MSFT 2NVO 3MA Top holdings2024-03-31 1.MSFT 2.NVO 3.MA 4.ABBV 5.V 6.ORLY 7.COST 8.VOO 9.AAPL 10.HD
2023-12-31	138	$205.4M	0	1MSFT 2AAPL 3MA Top holdings2023-12-31 1.MSFT 2.AAPL 3.MA 4.NVO 5.V 6.COST 7.ABBV 8.VOO 9.ORLY 10.HD
2023-09-30	135	$186.2M	0	1MSFT 2AAPL 3MA Top holdings2023-09-30 1.MSFT 2.AAPL 3.MA 4.NVO 5.V 6.ORLY 7.ABBV 8.COST 9.VOO 10.PEP
2023-06-30	131	$186.3M	0	1MSFT 2AAPL 3MA Top holdings2023-06-30 1.MSFT 2.AAPL 3.MA 4.ORLY 5.V 6.PEP 7.NVO 8.ABBV 9.HD 10.COST
2023-03-31	128	$176.1M	0	1MSFT 2AAPL 3MA Top holdings2023-03-31 1.MSFT 2.AAPL 3.MA 4.ABBV 5.V 6.PEP 7.NVO 8.ORLY 9.HD 10.COST
2022-12-31	124	$166.5M	0	1ABBV 2MA 3ORLY Top holdings2022-12-31 1.ABBV 2.MA 3.ORLY 4.PEP 5.V 6.MSFT 7.NOC 8.HD 9.NVO 10.AAPL
2022-09-30	122	$149.0M	0	1MSFT 2AAPL 3ABBV Top holdings2022-09-30 1.MSFT 2.AAPL 3.ABBV 4.PEP 5.MA 6.ORLY 7.V 8.NOC 9.ADP 10.HD
2022-06-30	128	$157.1M	0	1MSFT 2ABBV 3MA Top holdings2022-06-30 1.MSFT 2.ABBV 3.MA 4.AAPL 5.V 6.PEP 7.ABT 8.NOC 9.COST 10.HD
2022-03-31	132	$173.7M	0	1MSFT 2AAPL 3ABBV Top holdings2022-03-31 1.MSFT 2.AAPL 3.ABBV 4.MA 5.V 6.COST 7.PEP 8.ABT 9.ORLY 10.HD
2021-12-31	134	$179.1M	0	1MSFT 2AAPL 3HD Top holdings2021-12-31 1.MSFT 2.AAPL 3.HD 4.MA 5.ABT 6.V 7.SHW 8.COST 9.PEP 10.ABBV
2021-09-30	132	$154.9M	0	1MSFT 2MA 3V Top holdings2021-09-30 1.MSFT 2.MA 3.V 4.AAPL 5.HD 6.ABT 7.RMD 8.PEP 9.TGT 10.SHW
2021-06-30	124	$153.2M	100	1MSFT 2MA 3V Top holdings2021-06-30 1.MSFT 2.MA 3.V 4.AAPL 5.HD 6.ABT 7.TGT 8.PEP 9.ABBV 10.RMD
2021-03-31	126	$145.6M	9	1MA 2MSFT 3V Top holdings2021-03-31 1.MA 2.MSFT 3.V 4.ABT 5.AAPL 6.HD 7.PEP 8.ABBV 9.SHW 10.TGT
2020-12-31	127	$139.8M	9	1MA 2V 3MSFT Top holdings2020-12-31 1.MA 2.V 3.MSFT 4.AAPL 5.ABT 6.PEP 7.HD 8.ABBV 9.NKE 10.SHW
2020-09-30	124	$133.5M	12	1MA 2MSFT 3V Top holdings2020-09-30 1.MA 2.MSFT 3.V 4.AAPL 5.ABT 6.HD 7.PEP 8.SHW 9.NKE 10.CHD
2020-06-30	124	$123.0M	17	1MA 2MSFT 3V Top holdings2020-06-30 1.MA 2.MSFT 3.V 4.HD 5.ABT 6.PEP 7.AAPL 8.ABBV 9.RMD 10.CLX
2020-03-31	115	$105.3M	19	1MA 2V 3MSFT Top holdings2020-03-31 1.MA 2.V 3.MSFT 4.PEP 5.ABT 6.HD 7.ABBV 8.BDX 9.NOC 10.AAPL
2019-12-31	185	$123.3M	—	1MA 2V 3MSFT Top holdings2019-12-31 1.MA 2.V 3.MSFT 4.PEP 5.ABT 6.HD 7.BDX 8.ADP 9.ABBV 10.ROST

Holding changes this quarter

Position changes disclosed by ICW Investment Advisors LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	CASY	Casey's General Stores INC	+0.5%	-2.47%	Trim
2	XOM	Exxon Mobil CORP	+0.5%	+0.66%	Add
3	COST	Costco Wholesale CORP	+0.3%	+4.09%	Add
4	LMT	Lockheed Martin CORP	+0.3%	-0.28%	Trim
5	CVX	Chevron CORP	+0.2%	-5.52%	Trim
6	LIN	Linde plc	+0.2%	+3.30%	Add
7	ROST	Ross Stores INC	+0.2%	-2.16%	Trim
8	NOC	Northrop Grumman CORP	+0.2%	-2.47%	Trim
9	JNJ	Johnson & Johnson	+0.2%	-2.60%	Trim
10	NEE	Nextera Energy INC	+0.2%	+8.70%	Add
11	FAST	Fastenal Co	+0.2%	+1.07%	Add
12	PEP	Pepsico INC	+0.1%	+4.33%	Add
13	WMT	Walmart INC	+0.1%	-2.15%	Trim
14	LHX	L3harris Technologies INC	+0.1%	-1.69%	Trim
15	APD	Air Products & Chemicals INC	+0.1%	+7.41%	Add
16	HSY	Hershey Co/the	+0.1%	+0.90%	Add
17	DGX	Quest Diagnostics INC	+0.1%	+2.23%	Add
18	SO	Southern Co/the	+0.1%	+4.51%	Add
19	CHD	Church & Dwight Co INC	+0.1%	+1.48%	Add
20	RTX	Rtx CORP	+0.1%	+4.02%	Add
21	TGT	Target CORP	+0.1%	-2.49%	Trim
22	WEC	Wec Energy Group INC	+0.1%	+4.64%	Add
23	AMZN	Amazon.com INC	+0.1%	+16.04%	Add
24	KO	Coca-cola Co/the	+0.1%	-0.32%	Trim
25	GIS	General Mills INC	-0.1%	+1.15%	Add
26	FDS	Factset Research Systems INC	-0.1%	+11.47%	Add
27	NKE	Nike INC -cl B	-0.1%	-4.52%	Trim
28	BDX	Becton Dickinson And Co	-0.1%	+5.05%	Add
29	QCOM	Qualcomm INC	-0.1%	+3.20%	Add
30	GOOGL	Alphabet Inc-cl A	-0.1%	+3.33%	Add
31	INTU	Intuit INC	-0.1%	+7.54%	Add
32	ABBV	Abbvie INC	-0.1%	-0.76%	Trim
33	ACN	Accenture plc	-0.1%	+4.33%	Add
34	COR	Cencora INC	-0.1%	-0.60%	Trim
35	MKC	Mccormick & Co-non Vtg Shrs	-0.1%	+4.52%	Add
36	AAPL	Apple INC	-0.2%	+1.56%	Add
37	AVGO	Broadcom INC	-0.2%	+2.42%	Add
38	ABT	Abbott Laboratories	-0.2%	+1.51%	Add
39	NVO	Novo-nordisk A/s-spons Adr	-0.2%	+0.90%	Add
40	ADP	Automatic Data Processing	-0.2%	+3.23%	Add
41	V	Visa Inc-class A Shares	-0.3%	+2.73%	Add
42	VOO	Vanguard S&p 500 ETF	-0.3%	-7.30%	Trim
43	MA	Mastercard INC - A	-0.3%	+1.70%	Add
44	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.3%	-22.51%	Trim
45	MSFT	Microsoft CORP	-0.6%	+5.22%	Add
46	LLY	Eli Lilly & Co	-1.1%	-40.92%	Trim
47	BRK-B	Berkshire Hathaway Inc-cl B	—	NEW	New buy
48	AZNN	Astrazeneca Plc-spons Adr	—	EXIT	Sold out
49	WAT	Waters CORP	—	NEW	New buy
50	ELV	Elevance Health INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-11	13F-HR	View on EDGAR
2025-12-31	2026-02-09	13F-HR	View on EDGAR
2025-09-30	2025-11-06	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-11	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-05	13F-HR	View on EDGAR
2024-03-31	2024-05-09	13F-HR	View on EDGAR
2023-12-31	2024-02-05	13F-HR	View on EDGAR
2023-09-30	2023-11-13	13F-HR	View on EDGAR
2023-06-30	2023-08-09	13F-HR	View on EDGAR
2023-03-31	2023-05-10	13F-HR	View on EDGAR
2022-12-31	2023-01-26	13F-HR	View on EDGAR
2022-09-30	2022-11-04	13F-HR	View on EDGAR
2022-06-30	2022-08-11	13F-HR	View on EDGAR
2022-03-31	2022-05-12	13F-HR	View on EDGAR
2021-12-31	2022-02-03	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-05	13F-HR	View on EDGAR
2021-03-31	2021-05-07	13F-HR	View on EDGAR
2020-12-31	2021-02-01	13F-HR	View on EDGAR
2020-09-30	2020-11-10	13F-HR	View on EDGAR
2020-06-30	2020-08-13	13F-HR	View on EDGAR
2020-03-31	2020-05-12	13F-HR	View on EDGAR
2019-12-31	2020-02-06	13F-HR	View on EDGAR