ARMSTRONG HENRY H ASSOCIATES INC

CIK 1056827 · View on SEC EDGAR ↗

Portfolio value QoQ: +8.4% 13F does not disclose cash

Top 10 holdings weight88.71%

Top 25 holdings weight97.23%

Positions above 1%12

Effective number of positions6.5

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q3 2026: 0.67% Est. buys $7,219,250 · sells $8,842,248

Median holding: 7.0 quarters Tracked Q1 2025–Q3 2026 · 88.4% still held

New positions1

Increased12

Decreased22

Closed4

Portfolio value $1.1B #2,384 of 9,339 by 13F value · top 25.5%

Positions 61

As of Sept. 30, 2026

Sector breakdown

Financials 41.3%

Technology 32.3%

Healthcare 9.2%

Industrials 4.9%

Consumer products 4.5%

Communication Services 3.7%

Materials 1.5%

Consumer Staples 1.1%

Retail 0.8%

Energy 0.0%

Other/Unmapped 0.7%

Full portfolio 61 positions

					Streak
MSFT Microsoft Corporation - Common Stock	$317,692,015	28.41%	619,403	$85,524,128	Down ×6
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A	$200,197,340	17.90%	268	$-1,992,160	Down ×6
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B	$185,503,256	16.59%	372,534	$-1,489,936	Down ×1
JNJ Johnson & Johnson Common Stock	$85,409,247	7.64%	322,616	$3,414,329	Down ×1
MCO Moody's Corporation Common Stock	$66,376,565	5.94%	146,162	$1,046,135	Up ×2
PG Procter & Gamble Company (The) Common Stock	$50,278,470	4.50%	346,080	$-1,017,631	Down ×4
GOOG Alphabet Inc. - Class C Capital Stock	$31,594,455	2.83%	92,723	$-1,154,948	Up ×1
UNP Union Pacific Corporation Common Stock	$18,938,652	1.69%	69,594	$251,907	Up ×6
AAPL Apple Inc. - Common Stock	$18,715,578	1.67%	56,200	$2,323,999	Down ×6
ASML ASML Holding N.V. - New York Registry Shares	$17,240,325	1.54%	9,516	$618,139	Up ×6
APD Air Products and Chemicals, Inc. Common Stock	$16,084,376	1.44%	57,810	$-271,866	Up ×3
FAST Fastenal Company - Common Stock	$14,309,055	1.28%	288,897	$1,334,073	Up ×3
KO Coca-Cola Company (The) Common Stock	$10,585,323	0.95%	122,971	$205,392	Down ×6
GOOGL Alphabet Inc. - Class A Common Stock	$8,345,661	0.75%	24,255	$-340,217	Down ×6
MDT Medtronic plc. Ordinary Shares	$7,459,346	0.67%	86,445	$83,820	Down ×6
MA Mastercard Incorporated Common Stock	$6,973,339	0.62%	12,645	$584,155	Up ×1
ABBV AbbVie Inc. Common Stock	$4,454,093	0.40%	17,027	$19,441	Down ×3
RBA RB Global, Inc. Common Stock	$4,332,098	0.39%	53,226	$-431,742	Up ×6
GE GE Aerospace Common Stock	$3,760,909	0.34%	12,043	$-739,922
SPY SPY	$3,616,115	0.32%	4,742	$75,474	Up ×1
NVDA NVIDIA Corporation - Common Stock	$3,510,658	0.31%	15,372	$434,874
ADP Automatic Data Processing, Inc. - Common Stock	$3,425,747	0.31%	13,275	$320,680	Down ×1
HD Home Depot, Inc. (The) Common Stock	$3,054,285	0.27%	10,736	$-760,302	Down ×1
AMZN Amazon.com, Inc. - Common Stock	$2,923,028	0.26%	11,732	$126,823
GEV GE Vernova Inc. Common Stock	$2,471,274	0.22%	2,600	$-583,362
J Jacobs Solutions Inc. Common Stock	$2,310,547	0.21%	17,081	$158,341
V Visa Inc.	$2,248,328	0.20%	6,257	$101,613
PEP PepsiCo, Inc. - Common Stock	$1,943,759	0.17%	15,339	$-241,056	Down ×1
MU Micron Technology, Inc. - Common Stock	$1,917,198	0.17%	1,800	$-160,524
MMM 3M Company Common Stock	$1,887,725	0.17%	11,500	$25,760
VTI Vanguard Morningstar Total Stock Market ETF	$1,667,988	0.15%	4,457	$21,680	Up ×1
ABT Abbott Laboratories Common Stock	$1,655,403	0.15%	16,750	$-4,504	Down ×4
DCI Donaldson Company, Inc. Common Stock	$1,635,917	0.15%	18,795	$210,369	Up ×2
WAT Waters Corporation Common Stock	$1,482,942	0.13%	3,375	$103,544	Down ×6
Unknown issuer (CUSIP: 30233Q108)	$1,083,427	0.10%	6,657		Up ×1
CDNA CareDx, Inc. - Common Stock	$1,042,340	0.09%	16,036	$585,314
ADSK Autodesk, Inc. - Common Stock	$1,020,547	0.09%	4,883	$110,078	Up ×2
TJX TJX Companies, Inc. (The) Common Stock	$976,713	0.09%	7,382	$-187,110	Down ×1
COST Costco Wholesale Corporation - Common Stock	$974,975	0.09%	1,071	$-26,914
DIS Walt Disney Company (The) Common Stock	$943,996	0.08%	8,999	$73,992	Down ×2
VO Vanguard Morningstar Mid-Cap ETF	$705,153	0.06%	8,992	$-19,333
GLW Corning Incorporated Common Stock	$661,168	0.06%	4,300	$-437,181
WMT Walmart Inc. - Common Stock	$628,829	0.06%	6,051	$-75,726	Down ×2
EMR Emerson Electric Company Common Stock	$600,858	0.05%	3,874	$46,294
AMD Advanced Micro Devices, Inc. - Common Stock	$550,584	0.05%	900	$27,765
VB Vanguard Morningstar Small-Cap ETF	$496,436	0.04%	1,745	$-32,509
IBM International Business Machines Corporation Common Stock	$492,204	0.04%	2,238	$-137,144
PFE Pfizer, Inc. Common Stock	$436,185	0.04%	15,294	$65,497	Down ×1
SCHW Charles Schwab Corporation (The) Common Stock	$399,855	0.04%	4,091	$22,378
SHW Sherwin-Williams Company (The) Common Stock	$387,924	0.03%	1,200	$-25,260
IVV iShares Core S&P 500 ETF	$319,360	0.03%	417	$7,072
MKC McCormick & Company, Incorporated Common Stock	$315,428	0.03%	6,798	$-52,790	Down ×2
CVX Chevron Corporation Common Stock	$301,823	0.03%	1,478	$56,829
RTX RTX Corporation Common Stock	$296,669	0.03%	1,598	$-6,520
SOLV Solventum Corporation Common Stock	$279,877	0.03%	3,175	$34,925
MRK Merck & Company, Inc. Common Stock (new)	$267,807	0.02%	1,843	$30,981
BHC Bausch Health Companies Inc. Common Stock	$256,142	0.02%	43,935	$38,162	Down ×1
NVO Novo Nordisk A/S Common Stock	$252,633	0.02%	6,664	$-66,840
VOO Vanguard S&P 500 ETF	$230,092	0.02%	328	$-57,130	Down ×1
GEHC GE HealthCare Technologies Inc. - Common Stock	$228,076	0.02%	3,489	$4,745
NXDR Nextdoor Holdings, Inc. Class A Common Stock	$24,808	0.00%	10,209	$1,633
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
UNP	$18,938,652	1.69%	up ×6
ASML	$17,240,325	1.54%	up ×6
APD	$16,084,376	1.44%	up ×3
FAST	$14,309,055	1.28%	up ×3
RBA	$4,332,098	0.39%	up ×6

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
Unknown issuer (CUSIP: 30233Q108)	$1,083,427	6,657	0.10%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
MSFT	Trimmed	-3K	+$85.5M
JNJ	Trimmed	-237	+$3.4M
AAPL	Trimmed	-448	+$2.3M
BRK-A (filed as BRKA)	Trimmed	-2	-$2.0M
BRK-B (filed as BRKB)	Trimmed	-1K	-$1.5M
FAST	Bought more	+19K	+$1.3M
GOOG	Bought more	+35	-$1.2M
MCO	Bought more	+2K	+$1.0M
PG	Trimmed	-4K	-$1.0M
HD	Trimmed	-80	-$760K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
UBER	Sept. 30, 2026	25,470	$1,837,916	-2.6%
XOM	June 30, 2026	7,657	$1,299,087	34.0%
EXPD	June 30, 2025	4,739	$569,867	71.7%
AMTM	June 30, 2025	17,081	$310,875	-7.8%
ORCL	Dec. 31, 2025	922	$259,304	-35.3%
TSLA	Sept. 30, 2026	534	$224,601	4.9%
CSCO	Sept. 30, 2026	1,897	$222,763	-1.0%
STM	Sept. 30, 2026	2,950	$220,926	-17.5%
TSLA	March 31, 2026	464	$208,671	0.1%