SFE Investment Counsel
CIK 1317784 · View on SEC EDGAR ↗
- Portfolio value
- $741.5M
- Positions
- 152
- As of
- June 30, 2026
#2,980 of 9,443 by 13F value · top 31.6%
Portfolio value QoQ: +16.8% 13F does not disclose cash
- Top 10 holdings weight
- 28.67%
- Top 25 holdings weight
- 54.20%
- Positions above 1%
- 37
- Effective number of positions
- 60.8
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 4.95% Est. buys $49,878,768 · sells $34,090,337
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 78.4% still held
- New positions
- 16
- Increased
- 51
- Decreased
- 67
- Closed
- 6
Put-notional exposure: 2.0% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +18.4% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 93.5% · Options excluded: 0.6%
Sector breakdown
Technology
31.0%
Industrials
14.4%
Healthcare
10.1%
Retail
7.4%
Financials
6.0%
Communication Services
3.9%
Energy
3.4%
Utilities
3.4%
Financial Services
2.1%
Materials
1.3%
Communications
0.8%
Consumer products
0.8%
Consumer Discretionary
0.8%
Real Estate
0.6%
Logistics & Transportation
0.4%
Consumer Staples
0.1%
Telecommunication
0.1%
Other/Unmapped
13.3%
Full portfolio 152 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| NVDA NVIDIA Corporation - Common Stock | $27,811,534 | 3.75% | 138,995 | $4,025,943 | Up ×2 | ||
| PANW Palo Alto Networks, Inc. - Common Stock | $27,463,364 | 3.70% | 80,533 | $13,908,949 | Down ×1 | ||
| AAPL Apple Inc. - Common Stock | $24,889,332 | 3.36% | 86,015 | $2,840,949 | Down ×3 | ||
| MSFT Microsoft Corporation - Common Stock | $21,701,624 | 2.93% | 58,178 | $507,168 | Up ×6 | ||
| AVGO Broadcom Inc. - Common Stock | $21,513,162 | 2.90% | 56,951 | $3,580,276 | Down ×1 | ||
| JPM JP Morgan Chase & Co. Common Stock | $19,389,702 | 2.61% | 59,236 | $1,870,431 | Down ×4 | ||
| AMZN Amazon.com, Inc. - Common Stock | $19,383,359 | 2.61% | 81,327 | $2,796,423 | Up ×2 | ||
| OKE ONEOK, Inc. Common Stock | $17,788,793 | 2.40% | 204,610 | $-739,711 | Down ×2 | ||
| QCOM QUALCOMM Incorporated - Common Stock | $17,037,676 | 2.30% | 92,200 | $4,033,190 | Down ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $15,583,896 | 2.10% | 43,607 | $2,471,114 | Down ×3 | ||
| NEE NextEra Energy, Inc. Common Stock | $15,358,785 | 2.07% | 174,989 | $-886,484 | Up ×1 | ||
| FSLR First Solar, Inc. - Common Stock | $14,815,928 | 2.00% | 62,790 | $2,330,948 | Down ×3 | ||
| MRVL Marvell Technology, Inc. - Common Stock | $14,563,246 | 1.96% | 48,888 | $8,931,362 | Down ×1 | ||
| AMD Advanced Micro Devices, Inc. - Common Stock | $13,801,841 | 1.86% | 23,759 | $7,467,438 | Down ×1 | ||
| USB U.S. Bancorp Common Stock | $13,487,260 | 1.82% | 223,299 | $1,855,223 | Down ×3 | ||
| CMI Cummins Inc. Common Stock | $13,005,384 | 1.75% | 18,235 | $2,593,083 | Down ×4 | ||
| URI United Rentals, Inc. Common Stock | $12,765,405 | 1.72% | 11,268 | $4,741,774 | Up ×3 | ||
| AMAT Applied Materials, Inc. - Common Stock | $12,607,674 | 1.70% | 17,438 | $6,025,824 | Down ×3 | ||
| PWR Quanta Services, Inc. Common Stock | $12,422,130 | 1.68% | 17,252 | $1,889,730 | Down ×1 | ||
| LOW Lowe's Companies, Inc. Common Stock | $12,287,064 | 1.66% | 55,726 | $-602,662 | Up ×1 | ||
| IQV IQVIA Holdings, Inc. Common Stock | $11,408,288 | 1.54% | 59,043 | $2,553,510 | Up ×2 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $11,388,932 | 1.54% | 32,233 | $1,781,419 | Down ×5 | ||
| IBM International Business Machines Corporation Common Stock | $10,868,767 | 1.47% | 38,650 | $2,459,531 | Up ×2 | ||
| COST Costco Wholesale Corporation - Common Stock | $10,352,434 | 1.40% | 11,067 | $-784,190 | Down ×2 | ||
| LH Labcorp Holdings Inc. Common Stock | $10,213,840 | 1.38% | 36,478 | $1,429,388 | Up ×3 | ||
| PRU Prudential Financial, Inc. Common Stock | $9,745,971 | 1.31% | 90,299 | $1,375,403 | Up ×6 | ||
| WSM Williams-Sonoma, Inc. Common Stock (DE) | $9,648,708 | 1.30% | 41,393 | $2,206,727 | Up ×3 | ||
| J Jacobs Solutions Inc. Common Stock | $9,460,962 | 1.28% | 75,087 | $850,852 | Up ×6 | ||
| BX Blackstone Inc. Common Stock | $8,894,440 | 1.20% | 75,588 | $1,224,607 | Up ×3 | ||
| CLF Cleveland-Cliffs Inc. Common Stock | $8,561,764 | 1.15% | 911,796 | $994,882 | Up ×1 | ||
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | $8,497,011 | 1.15% | 390,757 | $169,971 | Up ×6 | ||
| ETN Eaton Corporation, PLC Ordinary Shares | $8,347,265 | 1.13% | 19,589 | $1,190,646 | Down ×1 | ||
| ABT Abbott Laboratories Common Stock | $8,189,338 | 1.10% | 90,251 | $-202,749 | Up ×2 | ||
| IVV | $8,144,928 | 1.10% | 10,876 | $885,152 | Down ×1 | ||
| BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF | $8,021,467 | 1.08% | 358,973 | $-35,077 | Down ×1 | ||
| BSJT Invesco BulletShares 2029 High Yield Corporate Bond ETF | $7,990,394 | 1.08% | 378,154 | $288,975 | Up ×6 | ||
| BSCS Invesco BulletShares 2028 Corporate Bond ETF | $7,711,106 | 1.04% | 378,645 | $750,988 | Up ×6 | ||
| DHR Danaher Corporation Common Stock | $7,375,523 | 0.99% | 38,721 | $527,178 | Up ×6 | ||
| LLY Eli Lilly and Company Common Stock | $7,161,808 | 0.97% | 5,971 | $1,802,299 | Up ×1 | ||
| BSJU Invesco BulletShares 2030 High Yield Corporate Bond ETF | $7,086,902 | 0.96% | 274,568 | $676,888 | Up ×6 | ||
| LHX L3Harris Technologies, Inc. Common Stock | $6,910,811 | 0.93% | 23,782 | $-1,259,580 | Up ×1 | ||
| JNJ Johnson & Johnson Common Stock | $6,759,919 | 0.91% | 26,617 | $268,326 | Up ×1 | ||
| BSCR Invesco BulletShares 2027 Corporate Bond ETF | $6,616,728 | 0.89% | 337,330 | $508,643 | Up ×6 | ||
| BSCT Invesco BulletShares 2029 Corporate Bond ETF | $6,394,017 | 0.86% | 344,227 | $341,348 | Up ×6 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $6,293,673 | 0.85% | 53,581 | $1,725,412 | Down ×6 | ||
| UBER Uber Technologies, Inc. Common Stock | $6,285,641 | 0.85% | 87,107 | $1,006,842 | Up ×5 | ||
| CRSP CRISPR Therapeutics AG - Common Shares | $6,229,434 | 0.84% | 16,700 | Put option | Up ×1 | ||
| HASI HA Sustainable Infrastructure Capital, Inc. Common Stock | $6,043,339 | 0.81% | 154,759 | $213,429 | Down ×2 | ||
| KLAC KLA Corporation - Common Stock | $6,034,200 | 0.81% | 20,000 | $3,089,380 | Up ×1 | ||
| KLAC KLA Corporation - Common Stock | $6,034,200 | 0.81% | 20,000 | Put option | $3,089,380 | Up ×1 | |
| DCI Donaldson Company, Inc. Common Stock | $5,831,280 | 0.79% | 64,958 | $248,277 | Down ×4 | ||
| XYL Xylem Inc. Common Stock New | $5,773,022 | 0.78% | 48,837 | $621,257 | Up ×1 | ||
| GEV GE Vernova Inc. Common Stock | $5,492,471 | 0.74% | 4,675 | $1,123,606 | Down ×2 | ||
| KMB Kimberly-Clark Corporation - Common Stock | $5,276,095 | 0.71% | 48,065 | $1,742,399 | Up ×2 | ||
| TTEK Tetra Tech, Inc. - Common Stock | $5,109,399 | 0.69% | 176,857 | $668,777 | Up ×3 | ||
| BSCU Invesco BulletShares 2030 Corporate Bond ETF | $4,879,732 | 0.66% | 293,165 | $581,001 | Up ×6 | ||
| KMI Kinder Morgan, Inc. Common Stock | $4,840,258 | 0.65% | 151,400 | $-250,099 | Down ×1 | ||
| ABBV AbbVie Inc. Common Stock | $4,799,781 | 0.65% | 19,074 | $573,515 | Down ×4 | ||
| GLW Corning Incorporated Common Stock | $4,778,840 | 0.64% | 18,709 | $1,762,210 | Down ×3 | ||
| WY Weyerhaeuser Company Common Stock | $4,745,842 | 0.64% | 198,239 | $-361,030 | Down ×1 | ||
| GE GE Aerospace Common Stock | $4,485,481 | 0.60% | 12,002 | $1,027,196 | Down ×6 | ||
| AWK American Water Works Company, Inc. Common Stock | $4,444,115 | 0.60% | 33,775 | $76,987 | Up ×1 | ||
| BSJQ Invesco BulletShares 2026 High Yield Corporate Bond ETF | $3,824,785 | 0.52% | 166,621 | $-2,384,562 | Down ×6 | ||
| FDX FedEx Corporation Common Stock | $3,288,739 | 0.44% | 10,503 | $-701,384 | Down ×2 | ||
| NOW ServiceNow, Inc. Common Stock | $3,136,752 | 0.42% | 31,595 | $324,252 | Up ×1 | ||
| BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF | $3,014,078 | 0.41% | 114,822 | $627,633 | Up ×3 | ||
| Unknown issuer (CUSIP: 43849R105) | $2,980,601 | 0.40% | 13,482 | Up ×1 | |||
| PFE Pfizer, Inc. Common Stock | $2,950,522 | 0.40% | 122,530 | $379,658 | Up ×3 | ||
| BSCQ Invesco BulletShares 2026 Corporate Bond ETF | $2,945,678 | 0.40% | 150,867 | $-507,363 | Down ×2 | ||
| AZN AstraZeneca PLC - American Depositary Shares | $2,892,000 | 0.39% | 4,000 | Put option | $1,524,840 | ||
| Unknown issuer (CUSIP: 438516205) | $2,844,426 | 0.38% | 12,704 | Up ×1 | |||
| BDX Becton, Dickinson and Company Common Stock | $2,665,527 | 0.36% | 17,614 | $-28,924 | Up ×1 | ||
| CVX Chevron Corporation Common Stock | $2,585,359 | 0.35% | 15,597 | $-551,659 | Up ×1 | ||
| CHWY Chewy, Inc. Class A Common Stock | $2,448,154 | 0.33% | 124,588 | Up ×1 | |||
| PNW Pinnacle West Capital Corporation Common Stock | $2,416,595 | 0.33% | 22,585 | $110,931 | Down ×3 | ||
| BSCV Invesco BulletShares 2031 Corporate Bond ETF | $2,376,137 | 0.32% | 145,019 | $275,792 | Up ×4 | ||
| EXPE Expedia Group, Inc. - Common Stock | $2,267,421 | 0.31% | 8,861 | $-630,993 | Down ×3 | ||
| BRKB | $2,233,241 | 0.30% | 4,463 | $109,906 | Up ×1 | ||
| BEP Brookfield Renewable Partners L.P. Limited Partnership Units | $2,227,409 | 0.30% | 64,135 | $78,228 | Down ×2 | ||
| CRM Salesforce, Inc. Common Stock | $2,091,881 | 0.28% | 13,353 | $-632,194 | Down ×2 | ||
| ROP Roper Technologies, Inc. - Common Stock | $1,945,066 | 0.26% | 5,748 | $-1,593,888 | Down ×3 | ||
| JEPI | $1,868,132 | 0.25% | 33,076 | $-132,785 | Down ×5 | ||
| EQAL | $1,589,718 | 0.21% | 26,829 | $87,406 | Down ×1 | ||
| CRCL Circle Internet Group, Inc. Class A Common Stock | $1,417,630 | 0.19% | 22,635 | $-393,824 | Up ×1 | ||
| NFLX Netflix, Inc. - Common Stock | $1,402,724 | 0.19% | 19,646 | $-379,801 | Up ×3 | ||
| EWBC East West Bancorp, Inc. - Common Stock | $1,369,645 | 0.18% | 10,610 | $266,280 | Up ×1 | ||
| DRI Darden Restaurants, Inc. Common Stock | $1,167,047 | 0.16% | 5,665 | $32,956 | Down ×1 | ||
| SHW Sherwin-Williams Company (The) Common Stock | $1,163,113 | 0.16% | 3,378 | $112,350 | Up ×4 | ||
| CLH Clean Harbors, Inc. Common Stock | $1,097,906 | 0.15% | 3,675 | $22,668 | Down ×5 | ||
| TNC Tennant Company Common Stock | $1,065,800 | 0.14% | 12,175 | $191,312 | Down ×4 | ||
| F Ford Motor Company Common Stock | $1,059,319 | 0.14% | 76,210 | $130,060 | Down ×6 | ||
| EIX Edison International Common Stock | $1,051,234 | 0.14% | 14,120 | $-32,562 | Down ×1 | ||
| EMR Emerson Electric Company Common Stock | $1,048,431 | 0.14% | 7,324 | $128,147 | Up ×6 | ||
| VRT Vertiv Holdings, LLC Class A Common Stock | $1,017,527 | 0.14% | 3,039 | $252,753 | Down ×1 | ||
| ISRG Intuitive Surgical, Inc. - Common Stock | $958,011 | 0.13% | 2,409 | $704,927 | Up ×1 | ||
| RSPT | $893,468 | 0.12% | 13,852 | $247,564 | Down ×2 | ||
| CRSP CRISPR Therapeutics AG - Common Shares | $892,547 | 0.12% | 16,365 | $220,859 | Up ×6 | ||
| LMNR Limoneira Co - Common Stock | $787,931 | 0.11% | 60,010 | $-17,403 | |||
| Unknown issuer (CUSIP: 314352105) | $786,408 | 0.11% | 5,208 | Up ×1 | |||
| T AT&T Inc. | $752,424 | 0.10% | 36,349 | $-526,876 | Down ×2 | ||
| 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 |
|---|---|---|---|
| MSFT | $21,701,624 | 2.93% | up ×6 |
| URI | $12,765,405 | 1.72% | up ×3 |
| LH | $10,213,840 | 1.38% | up ×3 |
| PRU | $9,745,971 | 1.31% | up ×6 |
| WSM | $9,648,708 | 1.30% | up ×3 |
| J | $9,460,962 | 1.28% | up ×6 |
| BX | $8,894,440 | 1.20% | up ×3 |
| BSJS | $8,497,011 | 1.15% | up ×6 |
| BSJT | $7,990,394 | 1.08% | up ×6 |
| BSCS | $7,711,106 | 1.04% | up ×6 |
| DHR | $7,375,523 | 0.99% | up ×6 |
| BSJU | $7,086,902 | 0.96% | up ×6 |
| BSCR | $6,616,728 | 0.89% | up ×6 |
| BSCT | $6,394,017 | 0.86% | up ×6 |
| UBER | $6,285,641 | 0.85% | up ×5 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| CRSP | $6,229,434 | 16,700 | 0.84% |
| Unknown issuer (CUSIP: 43849R105) | $2,980,601 | 13,482 | 0.40% |
| Unknown issuer (CUSIP: 438516205) | $2,844,426 | 12,704 | 0.38% |
| CHWY | $2,448,154 | 124,588 | 0.33% |
| Unknown issuer (CUSIP: 314352105) | $786,408 | 5,208 | 0.11% |
| Unknown issuer (CUSIP: 31556C106) | $656,506 | 22,460 | 0.09% |
| BSJW | $401,685 | 15,880 | 0.05% |
| BSCW | $307,650 | 15,000 | 0.04% |
| TXN | $274,855 | 922 | 0.04% |
| Unknown issuer (CUSIP: 84615Q103) | $262,270 | 1,535 | 0.04% |
| CGGO | $241,662 | 5,709 | 0.03% |
| HXL | $235,841 | 2,357 | 0.03% |
| CAT | $221,057 | 208 | 0.03% |
| BAC | $208,319 | 3,656 | 0.03% |
| BN | $206,604 | 4,851 | 0.03% |
Top movers (QoQ)
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 |
|---|---|---|---|---|
| HON | June 30, 2026 | 24,235 | $5,477,837 | -1.9% |
| BSJP | Dec. 31, 2025 | 59,596 | $1,374,284 | No longer tracked |
| CMF | March 31, 2026 | 7,997 | $1,257,628 | No longer tracked |
| DLR | March 31, 2025 | 5,624 | $997,304 | 37.0% |
| XEL | Dec. 31, 2025 | 9,920 | $800,048 | 6.3% |
| PRFZ | June 30, 2025 | 20,948 | $793,090 | |
| BSCP | Dec. 31, 2025 | 30,170 | $624,217 | No longer tracked |
| GSSC | June 30, 2025 | 8,756 | $555,368 | No longer tracked |
| FISV | June 30, 2026 | 9,285 | $518,103 | 5.1% |
| QUAL | June 30, 2025 | 2,951 | $504,296 | No longer tracked |
| VTV | Sept. 30, 2025 | 2,406 | $425,236 | No longer tracked |
| SYY | Dec. 31, 2025 | 4,941 | $406,842 | 14.1% |
| AGGY | March 31, 2026 | 8,748 | $385,349 | No longer tracked |
| JPST | Dec. 31, 2025 | 7,417 | $376,264 | No longer tracked |
| TXN | Sept. 30, 2025 | 1,612 | $334,657 | 44.3% |
| BND | March 31, 2026 | 4,383 | $324,649 | |
| WDAY | June 30, 2026 | 2,435 | $316,355 | 59.6% |
| MOAT | June 30, 2025 | 3,287 | $289,260 | No longer tracked |
| UNH | June 30, 2025 | 549 | $287,665 | 24.2% |
| ISRG | Sept. 30, 2025 | 527 | $286,377 | -16.5% |
| AMTM | March 31, 2025 | 12,830 | $269,815 | 14.9% |
| SRLN | June 30, 2025 | 6,329 | $260,324 | No longer tracked |
| CME | June 30, 2026 | 872 | $257,545 | 23.7% |
| IBIT | Dec. 31, 2025 | 3,913 | $254,345 | |
| IEFA | March 31, 2026 | 2,720 | $243,331 | No longer tracked |
| V | March 31, 2026 | 685 | $240,065 | 21.7% |
| IEF | June 30, 2026 | 2,499 | $238,460 | |
| XOM | Sept. 30, 2025 | 2,203 | $237,483 | 47.6% |
| GAL | June 30, 2025 | 5,287 | $236,957 | No longer tracked |
| COR | June 30, 2025 | 842 | $234,139 | 5.7% |
| XOM | June 30, 2026 | 1,370 | $232,434 | 21.7% |
| BN | March 31, 2026 | 4,993 | $229,129 | 3.7% |
| TTWO | March 31, 2025 | 1,226 | $225,682 | 17.0% |
| APH | June 30, 2025 | 3,382 | $221,825 | 57.9% |
| VEEV | Dec. 31, 2025 | 728 | $216,878 | 11.0% |
| HD | March 31, 2026 | 627 | $215,751 | 2.0% |
| BKNG | March 31, 2026 | 40 | $214,213 | 22.9% |
| MSB | March 31, 2026 | 5,540 | $213,345 | -25.7% |
| AON | June 30, 2025 | 530 | $211,518 | -1.0% |
| MMM | June 30, 2025 | 1,400 | $205,604 | 18.1% |
| ORCL | Dec. 31, 2025 | 727 | $204,461 | -24.9% |
| PLTR | Dec. 31, 2025 | 1,120 | $204,310 | -2.7% |
| IGHG | March 31, 2025 | 2,600 | $203,242 | No longer tracked |
| WAT | Sept. 30, 2025 | 577 | $201,396 | 32.7% |
| INVZ | Dec. 31, 2025 | 26,000 | $53,040 | -60.4% |
| RGF | March 31, 2025 | 23,809 | $9,133 | No longer tracked |