Martin Capital Advisors, LLP
Reported holdings as of Q3 2026, from 20 quarterly filings.
Holdings
Download these holdings as CSV
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| APPLE INC | AAPL | $45.5M | 136,538 | +2.84pp | 20q | HELD | |
| NVIDIA CORPORATION | NVDA | $16.0M | 70,208 | +0.93pp | 20q | HELD | |
| INVESCO QQQ TR | QQQ | $9.8M | 13,286 | -0.03pp | 20q | HELD | |
| LAM RESEARCH CORP | LRCX | $8.9M | 26,998 | -1.59pp | 7q | -1.1%-$94.3K | |
| INTUITIVE SURGICAL INC | ISRG | $8.2M | 20,196 | +0.04pp | 20q | HELD | |
| VANGUARD INDEX FDS | VTI | $6.8M | 18,271 | flat | 20q | HELD | |
| WILLIAMS SONOMA INC | WSM | $5.7M | 25,094 | -0.10pp | 20q | HELD | |
| MASTERCARD INCORPORATED | MA | $5.5M | 10,013 | +0.16pp | 20q | HELD | |
| ALPHABET INC | GOOGL | $5.3M | 15,444 | -0.14pp | 20q | HELD | |
| VISA INC | V | $4.3M | 11,901 | +0.08pp | 20q | HELD | |
| COSTCO WHOLESALE CORPORATION | COST | $4.1M | 4,537 | -0.12pp | 20q | -1.5%-$64.6K | |
| TEXAS INSTRS INC | TXN | $3.3M | 11,960 | -0.13pp | 20q | HELD | |
| STARBUCKS CORP | SBUX | $3.0M | 32,114 | -0.15pp | 20q | HELD | |
| AMAZON COM INC | AMZN | $2.8M | 11,378 | +0.04pp | 20q | -1.0%-$29.2K | |
| ISHARES TR | IBB | $2.8M | 13,419 | +0.13pp | 20q | HELD | |
| CHARLES SCHWAB CORP (THE) | SCHW | $2.7M | 27,939 | +0.06pp | 20q | -0.6%-$17.6K | |
| ORACLE CORP | ORCL | $2.4M | 17,588 | -0.09pp | 20q | +0.9%+$20.6K | |
| EDWARDS LIFESCIENCES CORP | EW | $2.4M | 27,473 | -0.07pp | 20q | HELD | |
| BLACKROCK INC | BLK | $2.3M | 2,177 | +0.09pp | 7q | -1.1%-$25.4K | |
| CROWDSTRIKE HLDGS INC | CRWD | $2.3M | 8,690 | +0.33pp | 12q | HELD | |
| BLOCK INC | XYZ | $2.3M | 30,649 | -0.06pp | 20q | -0.7%-$15.4K | |
| IDEXX LABS INC | IDXX | $2.1M | 4,113 | -0.02pp | 20q | HELD | |
| VANGUARD SCOTTSDALE FDS | VCSH | $2.1M | 27,800 | -0.04pp | 20q | HELD | |
| INTEL CORP | INTC | $2.0M | 16,804 | -0.18pp | 20q | HELD | |
| CATERPILLAR INC | CAT | $1.9M | 2,309 | -0.30pp | 20q | +1.7%+$31.6K | |
| ALPHABET INC | GOOG | $1.6M | 4,820 | -0.04pp | 20q | HELD | |
| INTUIT | INTU | $1.6M | 5,842 | +0.03pp | 20q | -1.3%-$21.5K | |
| DAVITA INC | DVA | $1.6M | 8,864 | -0.23pp | 20q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $1.5M | 2,483 | +0.03pp | 6q | HELD | |
| APPLIED MATLS INC | AMAT | $1.5M | 2,865 | -0.33pp | 15q | HELD | |
| LANTHEUS HLDGS INC | LNTH | $1.4M | 14,268 | -0.09pp | 20q | HELD | |
| CISCO SYS INC | CSCO | $1.4M | 13,058 | -0.08pp | 20q | -1.1%-$15.3K | |
| SANDISK CORP | SNDK | $1.3M | 752 | -0.15pp | 3q | +7.7%+$94.0K | |
| CHIPOTLE MEXICAN GRILL INC | CMG | $1.3M | 40,099 | -0.05pp | 20q | HELD | |
| NASDAQ INC | NDAQ | $1.2M | 13,580 | +0.09pp | 20q | HELD | |
| TRACTOR SUPPLY CO | TSCO | $1.2M | 37,645 | flat | 20q | +1.5%+$17.5K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $1.0M | 1,319 | +0.01pp | 20q | HELD | |
| U S PHYSICAL THERAPY | USPH | $904.1K | 10,545 | +0.05pp | 20q | -9.1%-$90.4K | |
| STRYKER CORPORATION | SYK | $897.5K | 3,259 | -0.09pp | 20q | -3.0%-$28.1K | |
| INTERCONTINENTAL EXCHANGE IN | ICE | $886.8K | 5,833 | +0.08pp | 20q | HELD | |
| ISHARES TR | IWV | $880.6K | 2,040 | flat | 20q | HELD | |
| GODADDY INC | GDDY | $872.2K | 9,132 | +0.05pp | 20q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $832.1K | 1,671 | -0.01pp | 20q | HELD | |
| PALO ALTO NETWORKS INC | PANW | $827.2K | 2,082 | +0.03pp | 5q | -5.9%-$51.7K | |
| PALANTIR TECHNOLOGIES INC | PLTR | $810.9K | 4,335 | +0.16pp | 7q | HELD | |
| MORNINGSTAR INC | MORN | $776.5K | 4,086 | +0.06pp | 20q | -2.8%-$22.0K | |
| WESTERN DIGITAL CORP | WDC | $766.9K | 1,687 | -0.17pp | 4q | HELD | |
| QUEST DIAGNOSTICS INC | DGX | $733.0K | 3,145 | +0.03pp | 20q | HELD | |
| MICROSOFT CORP | MSFT | $731.9K | 1,427 | +0.09pp | 8q | -4.4%-$33.3K | |
| TOLL BROTHERS INC | TOL | $710.8K | 5,275 | -0.09pp | 14q | HELD | |
| TREX INC | TREX | $700.9K | 16,091 | -0.06pp | 20q | -1.2%-$8.7K | |
| CBOE GLOBAL MKTS INC | CBOE | $642.8K | 2,335 | +0.03pp | 14q | -3.6%-$23.7K | |
| BANK OF NY MELLON CORP | BNY | $637.1K | 4,405 | flat | 16q | HELD | |
| EBAY INC. | EBAY | $627.2K | 5,914 | -0.02pp | 16q | HELD | |
| BROADCOM INC | AVGO | $626.5K | 1,784 | -0.02pp | 6q | +2.2%+$13.7K | |
| QUALCOMM INC | QCOM | $620.5K | 3,371 | flat | 20q | HELD | |
| ISHARES TR | IJH | $573.8K | 7,975 | -0.02pp | 20q | HELD | |
| DICKS SPORTING GOODS INC | DKS | $546.3K | 4,068 | -0.20pp | 20q | HELD | |
| NETFLIX INC. | NFLX | $523.9K | 7,530 | -0.01pp | 8q | HELD | |
| CORNING INC | GLW | $505.9K | 3,290 | -0.14pp | 5q | +8.6%+$40.0K | |
| TJX COS INC NEW | TJX | $487.0K | 3,681 | -0.02pp | 5q | +6.9%+$31.2K | |
| ADOBE INC | ADBE | $446.9K | 1,862 | +0.02pp | 20q | -6.0%-$28.3K | |
| SERVICENOW INC | NOW | $394.9K | 2,947 | +0.05pp | 6q | HELD | |
| TAPESTRY INC | TPR | $357.8K | 3,110 | -0.05pp | 8q | HELD | |
| LOWES COS INC | LOW | $334.3K | 1,814 | -0.04pp | 16q | HELD | |
| GENERAC HLDGS INC | GNRC | $321.0K | 1,551 | -0.07pp | 12q | HELD | |
| DELL TECHNOLOGIES INC | DELL | $309.3K | 575 | +0.02pp | 2q | -9.4%-$32.3K | |
| TEXAS ROADHOUSE INC | TXRH | $302.7K | 1,936 | -0.04pp | 12q | HELD | |
| SELLAS LIFE SCIENCES GROUP I | SLS | $284.1K | 23,082 | -0.03pp | 2q | HELD | |
| EAGLE MATLS INC | EXP | $271.6K | 1,588 | -0.05pp | 16q | HELD | |
| AXON ENTERPRISE INC | AXON | $270.8K | 641 | -0.05pp | 2q | -1.5%-$4.2K | |
| LULULEMON ATHLETICA INC | LULU | $215.8K | 2,244 | -0.02pp | 20q | HELD | |
| ILLUMINA INC | ILMN | $210.9K | 770 | - | new | NEW | |
| ANALOG DEVICES INC | ADI | $209.1K | 527 | flat | 2q | HELD | |
| ISHARES TR | IGSB | $202.9K | 3,960 | flat | 12q | 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 |
|---|---|---|
| Computer Hardware | $50.1M | 26.0% |
| Semiconductors & Electronics | $26.2M | 13.6% |
| Retail & Consumer | $20.4M | 10.6% |
| Software & IT Services | $18.8M | 9.8% |
| Medical Devices | $11.5M | 6.0% |
| Industrials | $11.0M | 5.7% |
| Business Services | $10.4M | 5.4% |
| Capital Markets | $8.6M | 4.5% |
| Biotech & Pharma | $4.1M | 2.1% |
| Healthcare Services | $3.2M | 1.7% |
| Other sectors | $5.2M | 2.7% |
| Not classified | $23.3M | 12.1% |
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 | +1.6% | +2.1% | -0.5% | 100% |
| Q2 2026 | +17.7% | +14.8% | +2.9% | 100% |
| Q1 2026 | -6.0% | -4.6% | -1.3% | 100% |
| Q4 2025 | +3.1% | +2.4% | +0.7% | 100% |
| Q3 2025 | +7.6% | +7.8% | -0.2% | 100% |
| Q2 2025 | +8.1% | +10.5% | -2.4% | 100% |
| Q1 2025 | -7.5% | -4.6% | -3.0% | 100% |
| Q4 2024 | +4.3% | +2.1% | +2.2% | 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 | $192.7M | 75 | 1 | 7 | 18 | 3 | 60.2% | 15 |
| Q2 2026 | $190.8M | 77 | 5 | 31 | 12 | 1 | 58.2% | 24 |
| Q1 2026 | $158.3M | 73 | 2 | 19 | 23 | 1 | 59.2% | 35 |
| Q4 2025 | $170.5M | 72 | 1 | 30 | 9 | 3 | 59.6% | 26 |
| Q3 2025 | $165.7M | 74 | 4 | 14 | 11 | 0 | 58.1% | 15 |
| Q2 2025 | $153.7M | 70 | 4 | 25 | 8 | 1 | 57.3% | 15 |
| Q1 2025 | $140.2M | 67 | 3 | 4 | 37 | 5 | 59.0% | 31 |
| Q4 2024 | $155.2M | 69 | 3 | 24 | 7 | 1 | 59.4% | 28 |
| Q3 2024 | $140.4M | 67 | 1 | 25 | 4 | 0 | 57.6% | 11 |
| Q2 2024 | $133.3M | 66 | 0 | 9 | 24 | 1 | 57.1% | 31 |
| Q1 2024 | $127.5M | 67 | 0 | 6 | 19 | 0 | 53.4% | 31 |
| Q4 2023 | $118.4M | 67 | 5 | 16 | 13 | 0 | 54.3% | 31 |
| Q3 2023 | $102.8M | 62 | 0 | 32 | 10 | 1 | 56.1% | 16 |
| Q2 2023 | $109.2M | 63 | 3 | 30 | 9 | 2 | 56.1% | 45 |
| Q1 2023 | $96.8M | 62 | 2 | 1 | 43 | 0 | 55.7% | 31 |
| Q4 2022 | $89.4M | 60 | 5 | 39 | 8 | 0 | 54.5% | 44 |
| Q3 2022 | $68.1M | 55 | 0 | 3 | 39 | 5 | 54.0% | 12 |
| Q2 2022 | $113.4M | 60 | 0 | 4 | 4 | 4 | 54.5% | 13 |
| Q1 2022 | $146.0M | 64 | 0 | 26 | 7 | 0 | 56.0% | 35 |
| Q4 2021 | $161.6M | 64 | 0 | 0 | 0 | 0 | 54.7% | 39 |
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.