FOUNDERS CAPITAL MANAGEMENT, LLC
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ALPHABET INC | GOOG | $150.5M | 441,717 | -1.27pp | 32q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $69.9M | 140,425 | -0.28pp | 32q | HELD | |
| META PLATFORMS INC | META | $66.9M | 92,272 | +2.00pp | 32q | HELD | |
| MICROSOFT CORP | MSFT | $62.6M | 122,038 | +2.35pp | 32q | HELD | |
| ALPHABET INC | GOOGL | $38.5M | 112,018 | -0.35pp | 23q | HELD | |
| APPLE INC | AAPL | $24.4M | 73,418 | +0.40pp | 32q | HELD | |
| AMERICAN EXPRESS CO | AXP | $23.0M | 75,515 | -0.46pp | 32q | HELD | |
| STATE STR SPDR S&P 500 ETF T | SPY | $20.6M | 26,979 | flat | 30q | HELD | |
| FEDEX CORP | FDX | $19.2M | 67,519 | -0.37pp | 32q | -0.9%-$178.2K | |
| CSX CORP | CSX | $18.6M | 400,624 | -0.14pp | 32q | -0.6%-$108.9K | |
| UNION PAC CORP | UNP | $13.4M | 49,364 | -0.05pp | 32q | -0.5%-$68.8K | |
| COCA COLA CO | KO | $10.9M | 126,563 | +0.04pp | 32q | -1.2%-$127.1K | |
| UNITED PARCEL SVCS INC | UPS | $10.7M | 115,019 | -0.27pp | 27q | HELD | |
| PEPSICO INC | PEP | $10.7M | 84,378 | -0.14pp | 32q | HELD | |
| VANGUARD SCOTTSDALE FDS | VONE | $10.4M | 30,204 | -0.01pp | 14q | HELD | |
| INVESCO QQQ TR | QQQ | $10.1M | 13,660 | -0.02pp | 14q | HELD | |
| HOME DEPOT INC | HD | $8.4M | 29,624 | -0.38pp | 32q | -3.0%-$264.3K | |
| DISNEY WALT CO | DIS | $8.1M | 77,237 | +0.07pp | 32q | HELD | |
| AMGEN INC | AMGN | $7.9M | 18,820 | +0.14pp | 32q | HELD | |
| GENERAL DYNAMICS CORP | GD | $7.4M | 22,306 | -0.12pp | 27q | -1.5%-$112.8K | |
| LOCKHEED MARTIN CORP | LMT | $7.1M | 14,038 | -0.03pp | 32q | -0.8%-$59.1K | |
| REGENERON PHARMACEUTICALS | REGN | $6.4M | 8,375 | +0.15pp | 32q | HELD | |
| CANADIAN NATL RY CO | CNI | $6.3M | 52,860 | -0.03pp | 6q | -0.9%-$54.1K | |
| JOHNSON & JOHNSON | JNJ | $6.1M | 22,899 | +0.02pp | 32q | HELD | |
| ABBVIE INC | ABBV | $6.0M | 22,823 | +0.02pp | 32q | HELD | |
| COMCAST CORP NEW | CMCSA | $4.7M | 217,296 | -0.11pp | 32q | HELD | |
| LOWES COS INC | LOW | $3.9M | 21,080 | -0.14pp | 32q | -1.8%-$69.7K | |
| FEDEX FGHT HLDG CO INC | FDXF | $3.3M | 29,872 | -0.28pp | 2q | -11.5%-$426.4K | |
| ABBOTT LABORATORIES | ABT | $3.0M | 30,261 | +0.03pp | 32q | HELD | |
| RESTAURANT BRANDS INTL INC | QSR | $3.0M | 41,816 | -0.02pp | 19q | HELD | |
| M & T BK CORP | MTB | $3.0M | 13,607 | -0.08pp | 20q | -5.7%-$177.6K | |
| CHEVRON CORPORATION | CVX | $2.7M | 13,398 | +0.07pp | 19q | -0.5%-$13.9K | |
| BANK OF AMER CORP | BACPRL | $2.7M | 2,217 | -0.02pp | 20q | HELD | |
| CISCO SYS INC | CSCO | $2.7M | 25,142 | -0.38pp | 32q | -43.4%-$2.1M | |
| KRAFT HEINZ CO | KHC | $2.3M | 102,100 | -0.02pp | 13q | HELD | |
| WARNER BROS DISCOVERY INC | WBD | $2.2M | 70,657 | +0.04pp | 18q | -0.9%-$19.4K | |
| STRYKER CORPORATION | SYK | $1.9M | 7,058 | -0.05pp | 32q | HELD | |
| LAM RESEARCH CORP | LRCX | $1.8M | 5,609 | -0.09pp | 7q | HELD | |
| MOHAWK INDS INC | MHK | $1.8M | 14,088 | flat | 19q | HELD | |
| INTEL CORP | INTC | $991.9K | 8,250 | -0.03pp | 5q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $984.0K | 2,157 | -0.01pp | 12q | HELD | |
| MCKESSON CORP | MCK | $902.5K | 1,057 | -0.01pp | 19q | -13.9%-$146.0K | |
| PROCTER & GAMBLE CO | PG | $902.0K | 6,209 | flat | 32q | +1.2%+$10.9K | |
| RTX CORPORATION | RTX | $865.5K | 4,662 | -0.10pp | 26q | -41.2%-$606.0K | |
| THERMO FISHER SCIENTIFIC INC | TMO | $848.5K | 1,257 | +0.03pp | 6q | HELD | |
| NETFLIX INC. CALL | NFLX | $838.8K | 6,794 | - | new | NEW | |
| WELLS FARGO & CO | WFCPRL | $799.5K | 741 | -0.01pp | 20q | HELD | |
| WALMART INC | WMT | $789.2K | 7,594 | -0.01pp | 32q | HELD | |
| AMAZON COM INC | AMZN | $788.1K | 3,163 | flat | 16q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $747.0K | 1 | flat | 32q | HELD | |
| CAMDEN NATL CORP | CAC | $718.8K | 12,988 | flat | 24q | HELD | |
| THE CIGNA GROUP | CI | $626.0K | 2,303 | flat | 21q | HELD | |
| MARKEL GROUP INC | MKL | $592.5K | 346 | -0.01pp | 27q | HELD | |
| MODERNA INC | MRNA | $577.7K | 3,000 | +0.05pp | 2q | HELD | |
| MASTERCARD INCORPORATED | MA | $576.3K | 1,045 | flat | 11q | HELD | |
| FASTENAL CO | FAST | $516.5K | 10,428 | flat | 26q | HELD | |
| NEW YORK TIMES CO MTN BE | NYT | $509.6K | 8,000 | -0.01pp | 27q | HELD | |
| BANK OF AMER CORP | BAC | $500.4K | 9,194 | -0.01pp | 28q | -3.6%-$18.9K | |
| BOSTON BEER INC | SAM | $491.2K | 2,995 | -0.01pp | 20q | HELD | |
| NORFOLK SOUTHN CORP | NSC | $437.9K | 1,417 | flat | 32q | HELD | |
| DELL TECHNOLOGIES INC | DELL | $425.0K | 790 | +0.01pp | 2q | -1.6%-$7.0K | |
| WELLS FARGO & CO | WFC | $400.2K | 5,000 | flat | 21q | HELD | |
| CARRIER GLOBAL CORPORATION | CARR | $362.0K | 6,599 | -0.02pp | 16q | HELD | |
| UNITEDHEALTH GROUP INC | UNH | $360.5K | 982 | -0.01pp | 32q | HELD | |
| ORACLE CORP | ORCL | $347.9K | 2,534 | flat | 32q | HELD | |
| VISA INC | V | $345.0K | 960 | flat | 26q | -2.0%-$7.2K | |
| ADAMS DIVERSIFIED EQUITY FD | ADX | $333.1K | 12,975 | flat | 10q | +4.9%+$15.5K | |
| SHELL PLC | SHEL | $332.3K | 3,496 | +0.01pp | 13q | HELD | |
| DIAGEO PLC | DEO | $326.6K | 3,815 | flat | 2q | HELD | |
| BANCO SANTANDER S.A. | SAN | $314.8K | 22,764 | - | new | NEW | |
| KEYCORP | KEY | $298.2K | 14,857 | -0.01pp | 12q | HELD | |
| DARDEN RESTAURANTS INC | DRI | $289.9K | 1,500 | flat | 16q | HELD | |
| FIRST BANCORP CORPORATION | FBP | $289.7K | 11,000 | flat | 14q | HELD | |
| CATERPILLAR INC | CAT | $285.4K | 352 | -0.01pp | 4q | HELD | |
| MEDTRONIC PLC | MDT | $274.7K | 3,184 | flat | 32q | HELD | |
| CUMMINS INC | CMI | $268.1K | 519 | -0.02pp | 5q | HELD | |
| OFG BANCORP | OFG | $250.4K | 5,000 | flat | 14q | HELD | |
| NVIDIA CORPORATION | NVDA | $213.5K | 935 | - | new | NEW | |
| GE AEROSPACE | GE | $206.4K | 661 | -0.01pp | 2q | HELD | |
| JPMORGAN CHASE & CO | JPM | $203.1K | 614 | flat | 7q | 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 | $318.9M | 46.6% |
| Insurance | $72.3M | 10.6% |
| Transport & Logistics | $72.1M | 10.5% |
| Biotech & Pharma | $29.9M | 4.4% |
| Banks & Lending | $28.9M | 4.2% |
| Computer Hardware | $27.6M | 4.0% |
| Food, Drink & Tobacco | $24.7M | 3.6% |
| Funds & ETFs | $20.9M | 3.1% |
| Retail & Consumer | $19.4M | 2.8% |
| Autos & Aerospace | $15.4M | 2.3% |
| Telecom & Media | $14.2M | 2.1% |
| Other sectors | $14.0M | 2.0% |
| Not classified | $26.2M | 3.8% |
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 | +2.9% | +2.1% | +0.7% | 100% |
| Q2 2026 | +9.2% | +14.8% | -5.6% | 100% |
| Q1 2026 | -6.2% | -4.6% | -1.6% | 100% |
| Q4 2025 | +6.7% | +2.4% | +4.3% | 100% |
| Q3 2025 | +9.7% | +7.8% | +1.9% | 100% |
| Q2 2025 | +7.8% | +10.5% | -2.6% | 100% |
| Q1 2025 | -4.3% | -4.6% | +0.2% | 100% |
| Q4 2024 | +0.9% | +2.1% | -1.2% | 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 | $684.4M | 80 | 3 | 2 | 19 | 2 | 72.2% | 23 |
| Q2 2026 | $670.1M | 79 | 6 | 6 | 12 | 1 | 70.4% | 20 |
| Q1 2026 | $608.4M | 74 | 0 | 6 | 18 | 5 | 69.7% | 23 |
| Q4 2025 | $673.3M | 79 | 2 | 18 | 27 | 2 | 70.2% | 23 |
| Q3 2025 | $639.2M | 79 | 2 | 3 | 20 | 1 | 68.9% | 10 |
| Q2 2025 | $587.1M | 78 | 3 | 12 | 21 | 1 | 67.2% | 14 |
| Q1 2025 | $543.7M | 76 | 3 | 7 | 26 | 0 | 65.5% | 15 |
| Q4 2024 | $570.3M | 73 | 0 | 10 | 25 | 4 | 66.6% | 24 |
| Q3 2024 | $576.6M | 77 | 0 | 5 | 33 | 0 | 62.6% | 15 |
| Q2 2024 | $556.8M | 77 | 1 | 11 | 24 | 2 | 64.2% | 17 |
| Q1 2024 | $540.6M | 78 | 1 | 19 | 20 | 1 | 61.9% | 22 |
| Q4 2023 | $487.8M | 78 | 3 | 14 | 19 | 0 | 60.2% | 23 |
| Q3 2023 | $440.5M | 75 | 3 | 7 | 20 | 5 | 60.7% | 24 |
| Q2 2023 | $448.9M | 77 | 6 | 9 | 27 | 1 | 60.3% | 26 |
| Q1 2023 | $401.5M | 72 | 1 | 9 | 22 | 0 | 59.5% | 18 |
| Q4 2022 | $372.1M | 71 | 5 | 8 | 28 | 1 | 57.1% | 20 |
| Q3 2022 | $356.8M | 67 | 0 | 13 | 10 | 0 | 58.2% | 21 |
| Q2 2022 | $390.1M | 67 | 2 | 9 | 8 | 4 | 58.8% | 25 |
| Q1 2022 | $465.9M | 69 | 6 | 20 | 6 | 2 | 60.5% | 33 |
| Q4 2021 | $462.4M | 65 | 5 | 10 | 25 | 3 | 62.0% | 47 |
| Q3 2021 | $395.9M | 63 | 5 | 14 | 19 | 14 | 61.9% | 21 |
| Q2 2021 | $414.6M | 72 | 1 | 11 | 40 | 3 | 59.7% | 15 |
| Q1 2021 | $398.6M | 74 | 6 | 35 | 8 | 1 | 59.5% | 12 |
| Q4 2020 | $346.3M | 69 | 4 | 4 | 25 | 0 | 59.6% | 15 |
| Q3 2020 | $315.1M | 65 | 1 | 2 | 20 | 1 | 59.7% | 19 |
| Q2 2020 | $291.9M | 65 | 8 | 7 | 8 | 1 | 59.7% | 8 |
| Q1 2020 | $251.6M | 58 | 7 | 15 | 15 | 5 | 59.0% | 20 |
| Q4 2019 | $303.2M | 56 | 3 | 2 | 12 | 2 | 60.8% | 8 |
| Q3 2019 | $281.4M | 55 | 1 | 5 | 19 | 4 | 60.6% | 9 |
| Q2 2019 | $281.8M | 58 | 3 | 11 | 20 | 1 | 60.0% | 11 |
| Q1 2019 | $272.7M | 56 | 9 | 23 | 10 | 3 | 59.7% | 16 |
| Q4 2018 | $233.3M | 50 | 0 | 0 | 0 | 0 | 61.7% | 18 |
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.