DaveManuel.com · Institutional Ownership · 13F Holdings
Capital Investment Counsel, LLC
Reported holdings as of Q3 2026, from 12 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| BONDBLOXX ETF TRUST | XFIV | $25.6M | 548,313 | +0.43pp | 5q | +20.2%+$4.3M | |
| INVESCO EXCH TRD SLF IDX FD | BSCU | $21.4M | 1,326,319 | +0.06pp | 8q | +5.2%+$1.1M | |
| INVESCO EXCH TRD SLF IDX FD | BSCV | $21.3M | 1,351,959 | -0.06pp | 11q | +1.2%+$252.3K | |
| APPLE INC | AAPL | $21.3M | 63,883 | +0.30pp | 12q | -2.3%-$490.2K | |
| ISHARES TR | SOXX | $20.8M | 36,538 | -0.43pp | 12q | -3.7%-$800.1K | |
| ISHARES TR | HYDB | $20.6M | 458,245 | -0.01pp | 10q | +3.2%+$629.5K | |
| FIRST TR EXCHANGE-TRADED FD | FTSL | $20.3M | 455,620 | +0.09pp | 12q | +3.7%+$730.9K | |
| MICROSOFT CORP | MSFT | $18.2M | 35,528 | +0.62pp | 12q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | SCIO | $18.1M | 908,677 | +0.57pp | 4q | +38.1%+$5.0M | |
| ALPHABET INC | GOOGL | $18.0M | 52,339 | -0.16pp | 12q | -3.4%-$625.5K | |
| BROADCOM INC | AVGO | $17.4M | 49,431 | -0.21pp | 12q | -2.5%-$437.2K | |
| INVESCO EXCH TRD SLF IDX FD | BSCW | $17.2M | 877,588 | +0.13pp | 8q | +10.9%+$1.7M | |
| INVESCO EXCH TRD SLF IDX FD | BSCT | $15.5M | 849,399 | -0.27pp | 10q | -10.7%-$1.9M | |
| CHEVRON CORPORATION | CVX | $15.3M | 74,759 | +0.34pp | 12q | -1.5%-$225.7K | |
| INVESCO QQQ TR | QQQ | $14.7M | 19,931 | +0.01pp | 12q | HELD | |
| CATERPILLAR INC | CAT | $14.7M | 18,128 | -0.73pp | 12q | -6.6%-$1.0M | |
| INVESCO EXCHANGE TRADED FD T | PWB | $14.6M | 89,953 | -0.08pp | 12q | -1.0%-$141.6K | |
| ISHARES TR | IJH | $14.3M | 198,310 | -0.11pp | 12q | HELD | |
| ABBVIE INC | ABBV | $12.7M | 48,393 | +0.03pp | 12q | -2.0%-$260.3K | |
| BNY MELLON ETF TRUST | BKGI | $12.5M | 298,744 | -0.12pp | 2q | -0.6%-$71.1K | |
| COSTCO WHOLESALE CORPORATION | COST | $11.7M | 12,874 | -0.05pp | 12q | -0.7%-$88.3K | |
| SCHWAB STRATEGIC TR | SCHF | $11.7M | 424,527 | -0.02pp | 12q | -1.2%-$140.9K | |
| JPMORGAN CHASE & CO | JPM | $11.3M | 34,107 | +0.01pp | 12q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | WCMI | $11.2M | 587,124 | -0.03pp | 6q | HELD | |
| ISHARES TR | DGRO | $10.5M | 139,603 | +0.04pp | 12q | +3.3%+$332.9K | |
| SELECT SECTOR SPDR TR | XLV | $10.3M | 61,439 | +0.09pp | 4q | +0.6%+$57.8K | |
| DEERE CO | DE | $10.2M | 15,260 | +0.06pp | 12q | -1.5%-$151.1K | |
| AMAZON COM INC | AMZN | $10.1M | 40,643 | +0.05pp | 12q | HELD | |
| ING GROEP N.V. | ING | $10.1M | 284,178 | +0.14pp | 10q | -0.9%-$89.0K | |
| NVIDIA CORPORATION | NVDA | $9.8M | 42,729 | +0.09pp | 12q | -1.7%-$170.4K | |
| EXXONMOBIL HOLDINGS CORP | XOM | $9.6M | 58,841 | - | new | NEW | |
| ISHARES TR | IQLT | $9.2M | 185,185 | +0.04pp | 10q | +3.2%+$287.2K | |
| SELECT SECTOR SPDR TR | XLK | $9.2M | 46,754 | flat | 12q | -2.9%-$270.9K | |
| WALMART INC | WMT | $8.9M | 85,860 | -0.09pp | 12q | HELD | |
| LAMAR ADVERTISING CO | LAMR | $8.9M | 61,472 | -0.10pp | 12q | -1.0%-$89.6K | |
| VANGUARD INTL EQUITY INDEX F | VPL | $8.6M | 74,604 | flat | 12q | -0.9%-$78.9K | |
| VANGUARD INDEX FDS | VTI | $8.5M | 22,846 | -0.01pp | 12q | -2.0%-$175.1K | |
| AMGEN INC | AMGN | $8.5M | 20,059 | +0.15pp | 12q | HELD | |
| EMERSON ELEC CO | EMR | $8.1M | 51,924 | +0.08pp | 12q | HELD | |
| WISDOMTREE TR | DON | $8.0M | 148,689 | -0.04pp | 12q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | SDVY | $8.0M | 197,192 | -0.05pp | 9q | HELD | |
| NORTHROP GRUMMAN CORP | NOC | $7.9M | 16,401 | -0.04pp | 12q | +0.5%+$41.6K | |
| DIGITAL RLTY TR INC | DLR | $7.6M | 43,406 | -0.03pp | 12q | -0.8%-$58.5K | |
| ARES MANAGEMENT CORPORATION | ARES | $7.5M | 64,805 | +0.05pp | 12q | HELD | |
| MORGAN STANLEY | MS | $7.5M | 39,879 | -0.10pp | 8q | HELD | |
| GILEAD SCIENCES INC | GILD | $7.4M | 49,367 | +0.14pp | 12q | HELD | |
| META PLATFORMS INC | META | $7.3M | 10,054 | +0.19pp | 10q | -2.0%-$145.8K | |
| ISHARES TR | IGSB | $6.9M | 134,722 | -0.01pp | 12q | HELD | |
| INVESCO EXCH TRADED FD TR II | SPMO | $6.6M | 43,805 | -0.05pp | 5q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $6.6M | 29,806 | -0.20pp | 10q | +2.0%+$128.7K | |
| ISHARES TR | IEFA | $6.5M | 67,180 | -0.01pp | 12q | -2.5%-$165.7K | |
| ELI LILLY & CO | LLY | $6.5M | 5,600 | +0.37pp | 11q | +90.8%+$3.1M | |
| ALPS ETF TR | SDOG | $6.4M | 93,907 | flat | 12q | HELD | |
| O'REILLY AUTOMOTIVE INC | ORLY | $6.3M | 73,835 | -0.05pp | 12q | +1.0%+$64.7K | |
| DARDEN RESTAURANTS INC | DRI | $5.6M | 29,155 | -0.04pp | 4q | +0.7%+$41.9K | |
| Dominion Energy, Inc. | D | $5.4M | 89,716 | -0.08pp | 2q | HELD | |
| DUKE ENERGY CORP NEW | DUK | $5.3M | 46,865 | -0.09pp | 3q | -2.0%-$109.3K | |
| SOUTHERN CO | SO | $5.3M | 63,488 | -0.09pp | 12q | +1.0%+$52.7K | |
| HOME DEPOT INC | HD | $4.9M | 17,087 | -0.14pp | 12q | HELD | |
| BHP BILLITON LIMITED | BHP | $4.8M | 56,503 | +0.01pp | 2q | HELD | |
| ISHARES TR | GOVT | $4.8M | 218,708 | -0.01pp | 12q | +1.6%+$74.7K | |
| PUBLIC SVC ENTERPRISE GROUP | PEG | $4.7M | 69,959 | -0.11pp | 10q | +1.0%+$47.1K | |
| CITIZENS FINL GROUP INC | CFG | $4.5M | 70,731 | -0.04pp | 4q | +1.5%+$67.5K | |
| PEPSICO INC | PEP | $4.5M | 35,223 | -0.04pp | 12q | -1.3%-$58.4K | |
| D R HORTON INC | DHI | $4.3M | 31,159 | -0.38pp | 12q | -30.9%-$1.9M | |
| ADVISORS INNER CIRCLE FD III | SAMT | $4.2M | 100,220 | -0.08pp | 3q | -1.2%-$49.6K | |
| VANGUARD SCOTTSDALE FDS | VGSH | $4.2M | 72,228 | flat | 12q | +1.4%+$56.2K | |
| ISHARES TR | OEF | $4.1M | 10,747 | +0.01pp | 11q | -2.3%-$95.5K | |
| CANADIAN NAT RES LTD MED TER | CNQ | $4.1M | 86,714 | +0.08pp | 3q | HELD | |
| Rio Tinto PLC | RIO | $4.0M | 42,541 | flat | 2q | +0.9%+$35.3K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $3.9M | 7,880 | flat | 12q | HELD | |
| MOLSON COORS BEVERAGE CO | TAP | $3.6M | 99,567 | -0.03pp | 11q | HELD | |
| FRANKLIN TEMPLETON ETF TR | DIVI | $3.5M | 82,277 | flat | 3q | +0.6%+$19.7K | |
| ADVANCED DRAIN SYS INC DEL | WMS | $3.5M | 27,570 | -0.11pp | 3q | -2.0%-$71.0K | |
| PUBLIC STORAGE | PSA | $3.2M | 11,296 | -0.04pp | 8q | +2.1%+$64.5K | |
| UNITED PARCEL SVCS INC | UPS | $2.8M | 29,822 | -0.05pp | 3q | +0.9%+$24.9K | |
| NETFLIX INC. | NFLX | $2.7M | 38,378 | -0.01pp | 2q | -2.0%-$54.0K | |
| SELECT SECTOR SPDR TR | XLF | $2.6M | 49,462 | - | new | NEW | |
| INVESCO EXCHANGE TRADED FD T | XSMO | $2.5M | 30,551 | -0.05pp | 4q | -2.3%-$59.3K | |
| S&P GLOBAL INC | SPGI | $2.4M | 6,192 | -0.01pp | 12q | -1.4%-$33.9K | |
| ISHARES TR | IVV | $2.4M | 3,100 | -0.13pp | 12q | -32.9%-$1.2M | |
| ISHARES TR | IGIB | $2.3M | 45,135 | -0.01pp | 12q | +3.1%+$67.8K | |
| VANGUARD INDEX FDS | VUG | $2.3M | 25,183 | flat | 6q | -3.5%-$82.4K | |
| SELECT SECTOR SPDR TR | XLI | $2.1M | 12,391 | -0.20pp | 12q | -37.9%-$1.3M | |
| SELECT SECTOR SPDR TR | XLE | $1.9M | 30,907 | +0.02pp | 3q | -4.6%-$92.4K | |
| ALPHABET INC | GOOG | $1.9M | 5,539 | -0.02pp | 12q | -6.4%-$128.5K | |
| SELECT SECTOR SPDR TR | XLB | $1.8M | 36,375 | +0.02pp | 3q | +12.0%+$189.7K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $1.7M | 2,189 | -0.03pp | 12q | -13.9%-$268.5K | |
| ISHARES TR | IWF | $1.6M | 12,457 | flat | 6q | HELD | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $1.5M | 2,359 | -0.01pp | 7q | HELD | |
| EATON CORP PLC | ETN | $1.4M | 3,280 | flat | 12q | HELD | |
| VANGUARD MUN BD FDS | VTEB | $1.2M | 26,059 | - | new | NEW | |
| SELECT SECTOR SPDR TR | XLRE | $1.2M | 29,726 | - | new | NEW | |
| SELECT SECTOR SPDR TR | XLP | $1.0M | 12,827 | +0.01pp | 2q | +7.0%+$67.3K | |
| VANGUARD WORLD FD | MGK | $978.9K | 10,565 | +0.01pp | 6q | HELD | |
| BLOOM ENERGY CORP | BE | $943.4K | 3,406 | - | new | NEW | |
| LOCKHEED MARTIN CORP | LMT | $916.6K | 1,800 | flat | 12q | -1.7%-$15.8K | |
| FIRST TR EXCHANGE-TRADED FD | FDN | $889.9K | 3,085 | +0.01pp | 12q | HELD | |
| MASTERCARD INCORPORATED | MA | $888.4K | 1,611 | flat | 12q | -4.7%-$44.1K | |
| FIFTH THIRD BANCORP | FITB | $870.0K | 17,201 | -0.01pp | 7q | HELD | |
| ISHARES TR | SUSA | $833.7K | 5,355 | -0.01pp | 12q | -10.8%-$100.4K | |
| VANGUARD INDEX FDS | VTV | $795.1K | 3,680 | -0.01pp | 6q | -5.4%-$45.6K | |
| BONDBLOXX ETF TRUST | XTRE | $729.8K | 15,236 | +0.02pp | 3q | +29.1%+$164.5K | |
| ISHARES TR | QUAL | $618.9K | 2,785 | +0.03pp | 6q | +67.9%+$250.2K | |
| PROGRESSIVE CORP | PGR | $595.2K | 2,871 | flat | 10q | HELD | |
| SPDR SERIES TRUST | SPMB | $566.5K | 26,797 | -0.01pp | 12q | -6.3%-$38.2K | |
| PACER FDS TR | TRFK | $563.2K | 5,585 | +0.03pp | 2q | +82.5%+$254.5K | |
| WISDOMTREE TR | WTAI | $559.1K | 12,798 | +0.03pp | 2q | +84.5%+$256.2K | |
| ISHARES TR | IVW | $545.7K | 3,836 | flat | 11q | -1.1%-$6.3K | |
| ETF SER SOLUTIONS | QTUM | $534.2K | 3,523 | +0.03pp | 2q | +85.9%+$246.8K | |
| ISHARES TR | IEI | $523.3K | 4,613 | -0.01pp | 12q | -8.5%-$48.8K | |
| INVESCO EXCHANGE TRADED FD T | RPG | $522.7K | 8,955 | +0.01pp | 6q | +32.1%+$127.0K | |
| EXCHANGE TRADED CONCEPTS TRU | ROBO | $503.4K | 6,257 | +0.03pp | 2q | +90.8%+$239.6K | |
| FIRST TR EXCHANGE-TRADED FD | GRID | $499.8K | 2,822 | +0.03pp | 2q | +90.2%+$237.0K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $488.9K | 2,095 | -0.05pp | 5q | -42.5%-$360.8K | |
| SELECT SECTOR SPDR TR | XLU | $481.9K | 12,218 | -0.14pp | 9q | -65.5%-$913.3K | |
| ETFS GOLD TR | SGOL | $474.6K | 11,997 | +0.03pp | 2q | +90.8%+$225.9K | |
| GLOBAL X FDS | URA | $465.4K | 11,678 | +0.03pp | 2q | +115.1%+$249.1K | |
| THEMES ETF TR | NATO | $464.5K | 12,626 | +0.02pp | 2q | +85.2%+$213.7K | |
| PROCURE ETF TRUST II | UFO | $462.8K | 10,937 | +0.02pp | 2q | +105.5%+$237.6K | |
| ISHARES TR | ICLN | $455.1K | 26,773 | +0.02pp | 2q | +107.8%+$236.1K | |
| PROCTER & GAMBLE CO | PG | $433.5K | 2,984 | flat | 11q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | FTSM | $404.5K | 6,797 | flat | 12q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $403.1K | 659 | -0.03pp | 2q | -13.2%-$61.2K | |
| SCHWAB STRATEGIC TR | FNDX | $401.1K | 12,746 | flat | 9q | -0.8%-$3.3K | |
| TESLA INC | TSLA | $395.3K | 1,114 | -0.02pp | 5q | -0.9%-$3.5K | |
| FISERV INC | FISV | $390.8K | 8,650 | flat | 4q | HELD | |
| VISA INC | V | $386.6K | 1,076 | flat | 12q | HELD | |
| VANGUARD INDEX FDS | VO | $384.3K | 4,900 | flat | 4q | HELD | |
| SCHWAB STRATEGIC TR | SCHD | $380.9K | 11,708 | flat | 12q | HELD | |
| VANGUARD INDEX FDS | VB | $369.7K | 1,299 | flat | 4q | HELD | |
| ISHARES TR | DVY | $369.4K | 2,429 | -0.01pp | 11q | -20.5%-$95.5K | |
| BANK OF AMER CORP | BAC | $365.2K | 6,710 | flat | 8q | HELD | |
| UNION PAC CORP | UNP | $350.5K | 1,288 | flat | 12q | HELD | |
| JOHNSON & JOHNSON | JNJ | $341.5K | 1,290 | flat | 5q | HELD | |
| SPDR SERIES TRUST | SPYG | $338.5K | 2,750 | - | new | NEW | |
| ISHARES TR | IWV | $328.7K | 761 | flat | 4q | HELD | |
| MCDONALDS CORP | MCD | $317.8K | 1,376 | -0.01pp | 8q | +0.8%+$2.5K | |
| ISHARES TR | IWP | $308.0K | 2,237 | -0.01pp | 12q | -7.8%-$25.9K | |
| MERCK & CO INC | MRK | $298.9K | 2,057 | flat | 4q | +0.8%+$2.3K | |
| SCHWAB STRATEGIC TR | SCHA | $287.8K | 8,819 | flat | 12q | HELD | |
| ISHARES TR | IJT | $277.1K | 1,728 | flat | 6q | HELD | |
| SCHWAB STRATEGIC TR | SCHX | $274.8K | 9,159 | -0.01pp | 12q | -18.2%-$61.2K | |
| HCA Healthcare, Inc. | HCA | $273.1K | 640 | flat | 11q | HELD | |
| VANGUARD WORLD FD | VDE | $265.9K | 1,545 | flat | 3q | HELD | |
| VANGUARD TAX-MANAGED FDS | VEA | $262.7K | 3,720 | flat | 4q | -1.8%-$4.8K | |
| INVESCO EXCHANGE TRADED FD T | RSP | $260.8K | 1,254 | flat | 4q | HELD | |
| SCHWAB STRATEGIC TR | SCHG | $239.6K | 6,669 | flat | 7q | -6.5%-$16.6K | |
| SCHWAB STRATEGIC TR | SCHM | $234.1K | 6,881 | flat | 5q | HELD | |
| ISHARES TR | ITB | $233.2K | 2,680 | -0.01pp | 9q | HELD | |
| LAM RESEARCH CORP | LRCX | $231.6K | 705 | -0.01pp | 2q | HELD | |
| ISHARES TR | IXUS | $229.0K | 2,411 | flat | 5q | HELD | |
| SPDR GOLD TR | GLD | $215.2K | 565 | flat | 5q | -13.7%-$34.3K | |
| NORTHERN TR CORP | NTRS | $203.2K | 1,200 | flat | 2q | HELD | |
| COCA COLA CO | KO | $200.1K | 2,325 | - | new | NEW |
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 |
|---|---|---|
| Retail & Consumer | $47.9M | 5.9% |
| Software & IT Services | $45.4M | 5.6% |
| Semiconductors & Electronics | $36.5M | 4.5% |
| Biotech & Pharma | $35.6M | 4.4% |
| Energy | $28.9M | 3.6% |
| Computer Hardware | $27.8M | 3.5% |
| Banks & Lending | $27.3M | 3.4% |
| Industrials | $26.6M | 3.3% |
| Utilities | $20.7M | 2.6% |
| Real Estate | $19.7M | 2.4% |
| Capital Markets | $15.7M | 2.0% |
| Other sectors | $52.4M | 6.5% |
| Not classified | $420.5M | 52.2% |
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 | -1.5% | +2.1% | -3.7% | 100% |
| Q2 2026 | +9.1% | +14.8% | -5.8% | 100% |
| Q1 2026 | -2.0% | -4.6% | +2.7% | 100% |
| Q4 2025 | +1.3% | +2.4% | -1.0% | 100% |
| Q3 2025 | +4.3% | +7.8% | -3.5% | 100% |
| Q2 2025 | +5.6% | +10.5% | -4.9% | 100% |
| Q1 2025 | -1.6% | -4.6% | +3.0% | 100% |
| Q4 2024 | -0.8% | +2.1% | -3.0% | 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 | $805.2M | 155 | 7 | 42 | 55 | 4 | 25.5% | 14 |
| Q2 2026 | $808.4M | 152 | 19 | 52 | 46 | 10 | 25.7% | 15 |
| Q1 2026 | $729.8M | 143 | 14 | 60 | 49 | 9 | 25.1% | 23 |
| Q4 2025 | $719.9M | 138 | 15 | 72 | 33 | 11 | 26.0% | 33 |
| Q3 2025 | $679.2M | 134 | 11 | 58 | 48 | 4 | 25.9% | 37 |
| Q2 2025 | $644.6M | 127 | 12 | 25 | 76 | 5 | 24.9% | 32 |
| Q1 2025 | $604.3M | 120 | 6 | 40 | 56 | 4 | 25.2% | 45 |
| Q4 2024 | $599.1M | 118 | 7 | 49 | 35 | 14 | 26.6% | 23 |
| Q3 2024 | $577.7M | 125 | 6 | 71 | 33 | 11 | 23.8% | 43 |
| Q2 2024 | $509.7M | 130 | 11 | 80 | 32 | 12 | 25.3% | 45 |
| Q1 2024 | $466.5M | 131 | 21 | 95 | 8 | 4 | 24.8% | 136 |
| Q4 2023 | $265.1M | 114 | 0 | 0 | 0 | 0 | 22.9% | 227 |
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.