DaveManuel.com · Institutional Ownership · 13F Holdings
CULBERTSON A N & CO INC
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRKB | $66.9M | 134,392 | +0.29pp | 32q | +4.8%+$3.0M | |
| APPLE INC | AAPL | $58.3M | 175,047 | +0.77pp | 32q | -1.7%-$983.7K | |
| MICROSOFT CORP | MSFT | $44.3M | 86,331 | +1.42pp | 32q | +0.9%+$393.4K | |
| JOHNSON & JOHNSON | JNJ | $43.5M | 164,480 | +0.16pp | 32q | -0.6%-$276.7K | |
| JPMORGAN CHASE & CO | JPM | $35.9M | 108,395 | +0.02pp | 32q | HELD | |
| CATERPILLAR INC | CAT | $29.5M | 36,412 | -1.26pp | 32q | -3.7%-$1.1M | |
| GOLDMAN SACHS GROUP INC | GS | $23.2M | 25,735 | -0.35pp | 32q | HELD | |
| ALPHABET INC | GOOG | $21.8M | 64,014 | -0.14pp | 32q | -1.5%-$321.7K | |
| ABBVIE INC | ABBV | $21.0M | 80,311 | +0.09pp | 32q | HELD | |
| ISHARES TR | IWR | $17.5M | 164,184 | -0.09pp | 32q | -0.8%-$145.6K | |
| CUMMINS INC | CMI | $17.4M | 33,740 | -0.78pp | 32q | HELD | |
| MCKESSON CORP | MCK | $17.0M | 19,896 | +0.22pp | 32q | HELD | |
| DEERE CO | DE | $16.5M | 24,579 | +0.09pp | 32q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $15.2M | 93,159 | - | new | NEW | |
| CHEVRON CORPORATION | CVX | $14.4M | 70,663 | +0.32pp | 32q | +0.7%+$96.8K | |
| VANGUARD INDEX FDS | VTI | $13.3M | 35,658 | -0.03pp | 32q | -2.9%-$399.7K | |
| ALPHABET INC | GOOGL | $12.8M | 37,306 | -0.03pp | 32q | +2.4%+$300.4K | |
| ORACLE CORP | ORCL | $11.6M | 84,320 | -0.24pp | 32q | -9.2%-$1.2M | |
| VANGUARD INDEX FDS | VB | $11.1M | 39,186 | -0.10pp | 32q | -0.7%-$81.1K | |
| MARKEL GROUP INC | MKL | $11.0M | 6,428 | +0.12pp | 11q | +26.8%+$2.3M | |
| AMAZON COM INC | AMZN | $10.9M | 43,663 | +0.10pp | 32q | +4.4%+$457.9K | |
| BROOKFIELD CORP | BN | $10.6M | 290,719 | +0.19pp | 16q | +38.8%+$3.0M | |
| ISHARES TR | IWM | $10.6M | 37,966 | -0.12pp | 32q | -0.9%-$96.1K | |
| CISCO SYS INC | CSCO | $9.6M | 89,576 | -0.11pp | 32q | -0.7%-$71.9K | |
| VANGUARD WORLD FD | VGT | $9.6M | 76,451 | -0.05pp | 32q | -9.1%-$959.0K | |
| US BANCORP | USB | $9.3M | 160,773 | -0.06pp | 32q | HELD | |
| ABBOTT LABORATORIES | ABT | $8.9M | 90,195 | +0.08pp | 32q | HELD | |
| CORNING INC | GLW | $8.8M | 57,374 | -0.71pp | 32q | -1.6%-$143.5K | |
| VISA INC | V | $8.6M | 24,069 | +0.04pp | 32q | HELD | |
| MCDONALDS CORP | MCD | $8.5M | 36,873 | -0.14pp | 32q | +2.8%+$230.0K | |
| PROCTER & GAMBLE CO | PG | $8.5M | 58,397 | flat | 32q | +1.5%+$129.3K | |
| PEPSICO INC | PEP | $8.2M | 64,788 | -0.08pp | 32q | -0.7%-$62.0K | |
| FEDEX CORP | FDX | $7.4M | 26,101 | -0.10pp | 32q | -1.0%-$74.1K | |
| VANGUARD INDEX FDS | VO | $7.4M | 94,520 | -0.03pp | 32q | HELD | |
| AIR PRODUCTS AND CHEMICALS I | APD | $7.3M | 26,400 | -0.05pp | 32q | -0.5%-$39.5K | |
| VANGUARD BD INDEX FDS | BSV | $7.2M | 94,206 | -0.05pp | 32q | -3.1%-$230.7K | |
| WELLS FARGO & CO | WFC | $6.8M | 84,908 | -0.03pp | 32q | HELD | |
| ISHARES TR | OEF | $6.4M | 16,662 | +0.01pp | 32q | -3.2%-$209.4K | |
| TRAVELERS COMPANIES INC | TRV | $6.2M | 17,480 | +0.05pp | 20q | HELD | |
| VANGUARD INDEX FDS | VUG | $6.2M | 68,661 | flat | 32q | -3.7%-$240.1K | |
| VANGUARD INDEX FDS | VBR | $6.0M | 26,017 | flat | 32q | +5.2%+$296.9K | |
| VANGUARD SCOTTSDALE FDS | VGSH | $5.9M | 102,619 | +0.12pp | 32q | +22.9%+$1.1M | |
| EOG RES INC | EOG | $5.8M | 42,225 | +0.05pp | 32q | +2.4%+$137.2K | |
| TEXAS INSTRS INC | TXN | $5.8M | 20,576 | -0.05pp | 32q | HELD | |
| AUTOMATIC DATA PROCESSING IN | ADP | $5.6M | 21,877 | +0.08pp | 32q | -0.7%-$42.6K | |
| CAPITAL ONE FINL CORP | COF | $5.2M | 26,685 | +0.06pp | 32q | +15.6%+$696.4K | |
| VANGUARD INDEX FDS | VTV | $5.1M | 23,720 | -0.01pp | 32q | -0.8%-$43.2K | |
| CITIGROUP INC | C | $4.9M | 37,987 | -0.05pp | 32q | -0.5%-$24.7K | |
| STATE STR CORP | STT | $4.7M | 27,018 | +0.01pp | 32q | -1.2%-$56.7K | |
| MORGAN STANLEY | MS | $4.7M | 24,987 | -0.06pp | 32q | HELD | |
| VANGUARD INDEX FDS | VOE | $4.6M | 23,605 | +0.02pp | 32q | +5.5%+$239.7K | |
| BANK OF AMER CORP | BAC | $4.5M | 82,474 | -0.03pp | 19q | HELD | |
| WALMART INC | WMT | $4.5M | 42,972 | -0.05pp | 25q | HELD | |
| SPDR SERIES TRUST | BIL | $4.3M | 47,375 | +0.14pp | 8q | +38.0%+$1.2M | |
| VANGUARD INSTL INDEX FD | VBIL | $4.1M | 54,265 | +0.22pp | 2q | +88.7%+$1.9M | |
| VANGUARD WHITEHALL FDS | VYM | $4.0M | 25,713 | -0.02pp | 32q | -1.1%-$45.8K | |
| M & T BK CORP | MTB | $3.9M | 18,104 | -0.02pp | 32q | +5.6%+$208.9K | |
| WISDOMTREE TR | EES | $3.9M | 60,520 | -0.03pp | 32q | -0.9%-$33.8K | |
| CHUBB LIMITED | CB | $3.6M | 11,143 | - | new | NEW | |
| VANGUARD SCOTTSDALE FDS | VCSH | $3.6M | 46,325 | +0.01pp | 32q | +4.6%+$158.9K | |
| WISDOMTREE TR | EZM | $3.2M | 44,045 | -0.03pp | 32q | -2.2%-$69.5K | |
| VANGUARD STAR FDS | VXUS | $3.1M | 36,755 | -0.01pp | 27q | -0.7%-$21.7K | |
| TJX COS INC NEW | TJX | $3.1M | 23,441 | -0.05pp | 3q | HELD | |
| ISHARES TR | IJR | $2.9M | 21,336 | -0.04pp | 32q | -1.9%-$55.1K | |
| VANGUARD INDEX FDS | VOO | $2.9M | 4,137 | flat | 32q | -2.7%-$81.3K | |
| ZOETIS INC | ZTS | $2.9M | 41,491 | +0.14pp | 3q | +72.7%+$1.2M | |
| VERIZON COMMUNICATIONS INC | VZ | $2.8M | 60,751 | -0.03pp | 20q | -16.0%-$530.8K | |
| AMGEN INC | AMGN | $2.7M | 6,452 | +0.04pp | 19q | HELD | |
| CVS HEALTH CORP | CVS | $2.7M | 31,620 | -0.09pp | 32q | -6.0%-$173.8K | |
| VANGUARD MUN BD FDS | VTEB | $2.5M | 53,650 | flat | 15q | +6.1%+$145.9K | |
| MONDELEZ INTL INC | MDLZ | $2.5M | 42,721 | -0.02pp | 32q | -5.5%-$144.1K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $2.4M | 3,208 | flat | 32q | -1.3%-$31.3K | |
| 3M CO | MMM | $2.2M | 13,114 | -0.01pp | 32q | -3.4%-$75.8K | |
| WISDOMTREE TR | DLN | $2.1M | 22,093 | flat | 32q | HELD | |
| UNION PAC CORP | UNP | $1.9M | 6,914 | flat | 17q | HELD | |
| MASTERCARD INCORPORATED | MA | $1.8M | 3,286 | +0.03pp | 28q | +6.1%+$104.2K | |
| Dominion Energy, Inc. | D | $1.8M | 29,359 | -0.08pp | 32q | -19.0%-$415.8K | |
| META PLATFORMS INC | META | $1.7M | 2,406 | +0.06pp | 6q | +12.3%+$190.7K | |
| COCA COLA CO | KO | $1.7M | 20,256 | +0.01pp | 32q | HELD | |
| JOHNSON CONTROLS INTERNATION | JCI | $1.7M | 11,669 | flat | 19q | -3.5%-$62.0K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $1.7M | 7,822 | -0.14pp | 32q | -23.5%-$529.2K | |
| BLACKSTONE INC | BX | $1.7M | 15,128 | flat | 12q | +6.6%+$104.8K | |
| UNITED PARCEL SVCS INC | UPS | $1.7M | 17,679 | -0.05pp | 32q | -8.2%-$148.1K | |
| ISHARES TR | IJH | $1.6M | 22,887 | -0.01pp | 32q | HELD | |
| VANGUARD BD INDEX FDS | BND | $1.6M | 22,871 | -0.02pp | 32q | -5.4%-$91.8K | |
| WISDOMTREE TR | DON | $1.5M | 28,270 | -0.01pp | 32q | -0.6%-$9.2K | |
| DEVON ENERGY CORP NEW | DVN | $1.5M | 32,782 | +0.05pp | 9q | +22.8%+$280.1K | |
| VANGUARD INSTL INDEX FD | VGUS | $1.5M | 19,872 | flat | 3q | +1.4%+$21.5K | |
| AT&T INC | T | $1.5M | 60,757 | -0.02pp | 32q | -22.5%-$431.0K | |
| ISHARES TR | AGG | $1.5M | 15,455 | -0.01pp | 32q | -1.2%-$17.7K | |
| HERSHEY CO | HSY | $1.5M | 9,214 | -0.03pp | 22q | -3.6%-$54.4K | |
| TRUIST FINL CORP | TFC | $1.4M | 30,271 | -0.02pp | 28q | -1.3%-$19.0K | |
| SPDR SERIES TRUST | SPIP | $1.4M | 56,780 | -0.01pp | 3q | HELD | |
| AMERICAN EXPRESS CO | AXP | $1.2M | 4,093 | -0.01pp | 24q | +4.4%+$52.0K | |
| PAYCHEX INC | PAYX | $1.2M | 12,513 | flat | 3q | HELD | |
| ELI LILLY & CO | LLY | $1.2M | 1,040 | flat | 13q | HELD | |
| MARSH & MCLENNAN COS INC | MRSH | $1.2M | 7,005 | +0.09pp | 2q | +159.2%+$734.5K | |
| PROGRESSIVE CORP | PGR | $1.2M | 5,717 | flat | 3q | +9.2%+$99.9K | |
| HOME DEPOT INC | HD | $1.2M | 4,161 | -0.03pp | 32q | HELD | |
| SPDR INDEX SHS FDS | GWX | $1.1M | 24,097 | flat | 3q | HELD | |
| STARBUCKS CORP | SBUX | $1.1M | 11,616 | -0.01pp | 32q | -1.8%-$19.7K | |
| INVESCO EXCHANGE TRADED FD T | RSP | $1.1M | 5,236 | flat | 9q | HELD | |
| ISHARES TR | IWN | $1.1M | 5,151 | -0.01pp | 32q | HELD | |
| FEDEX FGHT HLDG CO INC | FDXF | $1.1M | 9,714 | -0.10pp | 2q | -24.5%-$344.5K | |
| BROOKFIELD ASSET MANAGMT LTD | BAM | $987.0K | 22,140 | -0.01pp | 16q | -10.0%-$109.9K | |
| ISHARES TR | IVV | $957.8K | 1,251 | flat | 32q | HELD | |
| ISHARES TR | EFA | $834.3K | 8,031 | flat | 32q | -1.2%-$10.4K | |
| ANHEUSER BUSCH INBEV SA/NV | BUD | $798.3K | 10,865 | - | new | NEW | |
| INVESCO QQQ TR | QQQ | $696.1K | 941 | flat | 26q | HELD | |
| COPART INC | CPRT | $655.5K | 24,028 | - | new | NEW | |
| OMNICOM GROUP INC | OMC | $645.1K | 8,761 | flat | 3q | HELD | |
| SPDR SERIES TRUST | SPYM | $619.3K | 6,900 | flat | 6q | HELD | |
| ISHARES TR | ITOT | $614.4K | 3,695 | flat | 32q | HELD | |
| ERIE INDTY CO | ERIE | $614.3K | 2,803 | -0.01pp | 32q | HELD | |
| SLB LIMITED | SLB | $567.9K | 11,656 | flat | 22q | -5.3%-$31.5K | |
| LOWES COS INC | LOW | $526.7K | 2,858 | -0.01pp | 26q | +5.9%+$29.5K | |
| COSTCO WHOLESALE CORPORATION | COST | $491.6K | 540 | flat | 27q | -1.8%-$9.1K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $482.3K | 2,067 | -0.02pp | 32q | -25.3%-$163.3K | |
| ORANGE CNTY BANCORP INC | OBT | $475.9K | 12,880 | +0.03pp | 2q | +122.1%+$261.6K | |
| ISHARES TR | DVY | $446.5K | 2,936 | flat | 2q | HELD | |
| COMCAST CORP NEW | CMCSA | $446.2K | 20,504 | flat | 3q | +11.0%+$44.3K | |
| SCHWAB STRATEGIC TR | SCHB | $439.6K | 15,000 | flat | 11q | HELD | |
| VANGUARD SCOTTSDALE FDS | VCIT | $425.2K | 5,430 | flat | 32q | HELD | |
| ISHARES TR | EFV | $363.6K | 4,595 | flat | 3q | HELD | |
| ISHARES TR | IEFA | $330.5K | 3,411 | flat | 3q | HELD | |
| VANGUARD BD INDEX FDS | VUSB | $328.5K | 6,630 | flat | 11q | -6.6%-$23.3K | |
| NIKE INC | NKE | $325.6K | 9,199 | -0.01pp | 3q | -5.6%-$19.3K | |
| CONSTELLATION BRANDS INC | STZ | $320.9K | 2,838 | -0.01pp | 4q | +8.4%+$24.9K | |
| SPDR GOLD TR | GLD | $299.0K | 785 | flat | 2q | HELD | |
| VANECK ETF TRUST | MOAT | $285.5K | 2,701 | flat | 8q | HELD | |
| WISDOMTREE TR | DWM | $272.1K | 3,695 | flat | 7q | HELD | |
| BROADCOM INC | AVGO | $228.3K | 650 | flat | 2q | -5.5%-$13.3K | |
| VANGUARD INTL EQUITY INDEX F | VWO | $214.8K | 3,622 | flat | 2q | -2.7%-$5.9K | |
| BOEING CO | BA | $211.9K | 1,139 | flat | 3q | HELD | |
| GE VERNOVA INC | GEV | $209.1K | 220 | -0.01pp | 3q | -22.0%-$58.9K | |
| KENVUE INC | KVUE | $176.6K | 10,000 | -0.01pp | 10q | -34.2%-$91.8K | |
| PARAMOUNT SKYDANCE CORP | SKYD | $165.0K | 15,973 | flat | 3q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Software & IT Services | $97.9M | 11.4% |
| Insurance | $90.8M | 10.5% |
| Biotech & Pharma | $80.3M | 9.3% |
| Banks & Lending | $78.3M | 9.1% |
| Computer Hardware | $69.7M | 8.1% |
| Industrials | $65.2M | 7.6% |
| Energy | $37.5M | 4.4% |
| Retail & Consumer | $30.9M | 3.6% |
| Capital Markets | $30.9M | 3.6% |
| Wholesale & Distribution | $17.0M | 2.0% |
| Chemicals | $16.3M | 1.9% |
| Food, Drink & Tobacco | $15.0M | 1.7% |
| Other sectors | $64.2M | 7.5% |
| Not classified | $167.4M | 19.4% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2026 | -1.0% | +2.1% | -3.2% | 100% |
| Q2 2026 | +10.4% | +14.8% | -4.4% | 100% |
| Q1 2026 | -1.0% | -4.6% | +3.6% | 100% |
| Q4 2025 | +2.7% | +2.4% | +0.4% | 100% |
| Q3 2025 | +8.7% | +7.8% | +0.9% | 100% |
| Q2 2025 | +4.9% | +10.5% | -5.5% | 100% |
| Q1 2025 | -0.3% | -4.6% | +4.2% | 100% |
| Q4 2024 | +1.1% | +2.1% | -1.1% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $861.2M | 137 | 4 | 32 | 56 | 7 | 42.0% | 21 |
| Q2 2026 | $858.7M | 140 | 10 | 39 | 54 | 2 | 41.8% | 29 |
| Q1 2026 | $770.9M | 132 | 16 | 44 | 50 | 12 | 40.6% | 42 |
| Q4 2025 | $728.9M | 128 | 2 | 29 | 62 | 2 | 41.3% | 21 |
| Q3 2025 | $706.6M | 128 | 3 | 26 | 50 | 2 | 41.1% | 24 |
| Q2 2025 | $651.3M | 127 | 4 | 29 | 65 | 1 | 40.3% | 42 |
| Q1 2025 | $626.0M | 124 | 1 | 41 | 42 | 3 | 39.3% | 45 |
| Q4 2024 | $628.7M | 126 | 3 | 37 | 37 | 3 | 39.4% | 16 |
| Q3 2024 | $621.1M | 126 | 5 | 46 | 31 | 0 | 39.3% | 16 |
| Q2 2024 | $572.6M | 121 | 1 | 30 | 56 | 2 | 40.0% | 30 |
| Q1 2024 | $579.3M | 122 | 5 | 45 | 50 | 2 | 38.5% | 30 |
| Q4 2023 | $537.7M | 119 | 4 | 25 | 37 | 0 | 38.6% | 19 |
| Q3 2023 | $498.3M | 115 | 1 | 28 | 38 | 1 | 38.0% | 18 |
| Q2 2023 | $517.5M | 115 | 0 | 38 | 44 | 2 | 38.2% | 18 |
| Q1 2023 | $489.6M | 117 | 2 | 36 | 54 | 3 | 36.7% | 38 |
| Q4 2022 | $474.8M | 118 | 3 | 32 | 43 | 2 | 35.6% | 23 |
| Q3 2022 | $430.9M | 117 | 3 | 30 | 62 | 0 | 35.9% | 13 |
| Q2 2022 | $461.1M | 114 | 0 | 34 | 33 | 1 | 35.9% | 21 |
| Q1 2022 | $531.2M | 115 | 4 | 56 | 41 | 1 | 36.6% | 19 |
| Q4 2021 | $531.0M | 112 | 3 | 30 | 58 | 4 | 36.7% | 14 |
| Q3 2021 | $488.7M | 113 | 3 | 67 | 13 | 2 | 35.8% | 22 |
| Q2 2021 | $480.1M | 112 | 3 | 45 | 26 | 2 | 35.5% | 26 |
| Q1 2021 | $454.2M | 111 | 1 | 39 | 45 | 1 | 35.1% | 22 |
| Q4 2020 | $420.7M | 111 | 1 | 27 | 57 | 1 | 36.7% | 27 |
| Q3 2020 | $378.7M | 111 | 2 | 26 | 69 | 0 | 37.5% | 30 |
| Q2 2020 | $364.1M | 109 | 4 | 41 | 26 | 0 | 36.8% | 24 |
| Q1 2020 | $309.1M | 105 | 2 | 38 | 50 | 5 | 37.1% | 27 |
| Q4 2019 | $388.1M | 108 | 7 | 18 | 71 | 3 | 35.3% | 27 |
| Q3 2019 | $366.4M | 104 | 0 | 41 | 37 | 1 | 34.4% | 28 |
| Q2 2019 | $359.7M | 105 | 1 | 35 | 30 | 0 | 34.6% | 24 |
| Q1 2019 | $347.0M | 104 | 2 | 31 | 46 | 3 | 33.6% | 17 |
| Q4 2018 | $314.0M | 105 | 0 | 0 | 0 | 0 | 34.4% | 25 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.