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WULFF, HANSEN & CO.

100 SMITH RANCH ROAD, SUITE 330, SAN RAFAEL, CA 94903 • 415-202-6650

Q4 2025 · Filed 2026-02-03
Market Value
$118M
+2.7%
Holdings
104
+2
New Purchases
5
Added To
6
Closed
4
Reduced
47
Top 10 Concentration
39.9%
Turnover
8.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMZN 3.79% 0.00% +3.79% $4M
GOOGL 5.15% 4.15% +0.99% $6M
IEMG 0.33% 0.00% +0.33% $390K
GH 0.28% 0.00% +0.28% $325K
MRK 1.56% 1.29% +0.27% $2M
FCX 1.11% 0.88% +0.23% $1M
GSL 0.20% 0.00% +0.20% $238K
RTX 3.29% 3.10% +0.19% $4M
FI 0.17% 0.00% +0.17% $203K
LLY 0.50% 0.37% +0.14% $596K
HCC 0.52% 0.38% +0.13% $614K
CAT 0.92% 0.78% +0.13% $1M
JNJ 1.66% 1.53% +0.12% $2M
AAPL 3.43% 3.34% +0.09% $4M
HII 0.35% 0.27% +0.08% $416K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BX 6.80% 7.81% -1.02% $8M
KMB 0.00% 0.50% -0.50% $0
MSFT 3.76% 4.26% -0.50% $4M
PG 2.40% 2.73% -0.33% $3M
DIS 0.00% 0.31% -0.31% $0
MDLZ 1.03% 1.29% -0.27% $1M
NKE 0.00% 0.26% -0.26% $0
MP 0.70% 0.96% -0.25% $831K
HD 1.18% 1.43% -0.25% $1M
GPC 1.07% 1.28% -0.20% $1M
PM 1.37% 1.55% -0.18% $2M
EFX 0.00% 0.18% -0.18% $0
NVDA 1.38% 1.55% -0.17% $2M
COST 1.47% 1.63% -0.16% $2M
SO 0.56% 0.72% -0.16% $667K

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 27.0%
Industrials 18.0%
Technology 11.9%
Consumer Defensive 10.9%
Utilities 8.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 37 $63M 52.9%
Large Cap 54 $48M 40.8%
Mid Cap 8 $3M 2.9%
Small Cap 5 $4M 3.4%

Portfolio Analytics

Avg Market Cap
$421.2B
Median Market Cap
$99.7B
Avg P/E
36.5
Median P/E
28.9
Avg Dividend Yield
0.02%
Avg Beta
0.88
# Stocks
82
# ETFs / Funds
22

Top Holdings (104 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 BX 6.80% 52,149 $8M $154.14 -$963K -536 -1.0%
2 VGT 5.59% 8,764 $7M $753.78 $18K -60 -0.7%
3 GOOGL 5.15% 19,445 $6M $313.00 $1M -240 -1.2%
4 AMZN 3.79% 19,420 $4M $230.82 +19,420 NEW
5 MSFT 3.76% 9,201 $4M $483.62 -$461K -280 -3.0%
6 AAPL 3.43% 14,918 $4M $271.85 $211K -179 -1.2%
7 JPM 3.30% 12,101 $4M $322.22 $41K -130 -1.1%
8 RTX 3.29% 21,227 $4M $183.40 $316K -150 -0.7%
9 PG 2.40% 19,804 $3M $143.31 -$305K -650 -3.2%
10 GE 2.38% 9,140 $3M $308.03 -$6K -240 -2.6%
11 BAC 2.08% 44,648 $2M $55.00 $121K -605 -1.3%
12 BN 1.91% 49,190 $2M $45.89 $8K +16,394 +50.0%
13 CSX 1.81% 59,040 $2M $36.25 $40K -100 -0.2%
14 JNJ 1.66% 9,475 $2M $206.95 $195K -50 -0.5%
15 BRK-B 1.60% 3,762 $2M $502.65 -$36K -70 -1.8%
16 MRK 1.56% 17,525 $2M $105.26 $357K -195 -1.1%
17 WLDN 1.53% 17,505 $2M $103.66 $122K
18 BIP 1.50% 51,106 $2M $34.74 $69K -771 -1.5%
19 V 1.50% 5,055 $2M $350.71 $47K
20 COST 1.47% 2,019 $2M $862.34 -$142K -15 -0.7%
21 XLY 1.42% 14,098 $2M $119.41 -$15K +7,009 +98.9%
22 NVDA 1.38% 8,755 $2M $186.50 -$158K -845 -8.8%
23 PM 1.37% 10,090 $2M $160.40 -$165K -905 -8.2%
24 SCHD 1.20% 51,670 $1M $27.43 $10K +120 +0.2%
25 HD 1.18% 4,054 $1M $344.10 -$248K
26 FCX 1.11% 25,799 $1M $50.79 $298K
27 GPC 1.07% 10,335 $1M $122.96 -$200K -280 -2.6%
28 AWK 1.05% 9,475 $1M $130.50 -$88K -40 -0.4%
29 MDLZ 1.03% 22,530 $1M $53.83 -$274K -1,277 -5.4%
30 VOO 1.02% 1,931 $1M $627.13 -$21K -80 -4.0%
31 WMT 1.01% 10,733 $1M $111.41 $90K -1 -0.0%
32 BA 1.00% 5,451 $1M $217.12 -$25K -150 -2.7%
33 GEV 0.99% 1,784 $1M $653.57 $37K -52 -2.8%
34 CVX 0.96% 7,475 $1M $152.41 -$134K -725 -8.8%
35 VCSH 0.94% 13,945 $1M $79.73 -$50K -592 -4.1%
36 CAT 0.92% 1,895 $1M $572.87 $181K
37 AVGO 0.89% 3,045 $1M $346.10 $44K -15 -0.5%
38 FLMI 0.87% 41,187 $1M $24.87 $4K
39 LMT 0.86% 2,112 $1M $483.67 -$145K -225 -9.6%
40 XOM 0.80% 7,895 $950K $120.34 -$151K -1,867 -19.1%
41 DUK 0.79% 7,950 $932K $117.21 -$52K
42 SPSM 0.73% 18,455 $865K $46.86 -$71K -1,740 -8.6%
43 WM 0.72% 3,893 $855K $219.71 -$4K
44 CWT 0.72% 19,625 $850K $43.33 -$124K -1,600 -7.5%
45 IGSB 0.71% 15,795 $835K $52.88 -$58K -1,040 -6.2%
46 MP 0.70% 16,451 $831K $50.52 -$272K
47 QQQ 0.69% 1,335 $820K $614.31 $19K
48 DLR 0.65% 4,961 $768K $154.71 -$90K
49 HVT 0.60% 30,522 $713K $23.36 $44K
50 SO 0.56% 7,648 $667K $87.20 -$167K -1,150 -13.1%
51 HCC 0.52% 6,963 $614K $88.17 $171K
52 GIS 0.52% 13,140 $611K $46.50 -$52K
53 ABBV 0.51% 2,660 $608K $228.49 -$28K -85 -3.1%
54 LLY 0.50% 555 $596K $1,074.68 $173K
55 MSI 0.48% 1,481 $568K $383.32 -$110K
56 ITA 0.42% 2,337 $502K $214.69 $13K
57 MA 0.42% 875 $500K $570.88 $2K
58 INTC 0.40% 12,816 $473K $36.90 -$162K -6,100 -32.2%
59 XLE 0.40% 10,540 $471K $44.71 -$34K +4,890 +86.5%
60 XLI 0.39% 3,010 $467K $155.12 $3K
61 TSLA 0.39% 1,030 $463K $449.72 $5K
62 VZ 0.37% 10,671 $435K $40.73 -$34K
63 CPB 0.37% 15,580 $434K $27.87 -$58K
64 SCHG 0.37% 13,270 $433K $32.62 $12K +95 +0.7%
65 HII 0.35% 1,222 $416K $340.07 $100K +127 +11.6%
66 SHEL 0.35% 5,611 $412K $73.48 $11K
67 IEFA 0.35% 4,585 $410K $89.46 $10K
68 ESS 0.35% 1,564 $409K $261.68 -$50K -153 -8.9%
69 ETN 0.34% 1,255 $400K $318.51 -$70K
70 NVS 0.33% 2,865 $395K $137.87 $20K -60 -2.0%
71 IBM 0.33% 1,327 $393K $296.21 $19K
72 AEP 0.33% 3,390 $391K $115.31 -$41K -450 -11.7%
73 IEMG 0.33% 5,804 $390K $67.22 +5,804 NEW
74 DE 0.32% 815 $379K $465.57 -$9K -35 -4.1%
75 HON 0.31% 1,900 $371K $195.09 -$43K -65 -3.3%
76 PFF 0.31% 11,800 $365K $30.96 -$14K -190 -1.6%
77 IYF 0.30% 2,775 $358K $128.93 $6K
78 VIS 0.30% 1,190 $355K $298.38 $2K
79 BIPC 0.29% 7,455 $338K $45.40 $23K -205 -2.7%
80 MCO 0.28% 645 $329K $510.85 $727 -45 -6.5%
81 EWC 0.28% 6,052 $326K $53.93 $20K
82 LIN 0.28% 764 $326K $426.39 -$58K -44 -5.5%
83 GH 0.28% 3,185 $325K $102.14 +3,185 NEW
84 CLX 0.27% 3,185 $321K $100.83 -$72K
85 VB 0.27% 1,225 $316K $257.95 $2K -10 -0.8%
86 PFE 0.24% 11,475 $286K $24.90 -$7K
87 XLF 0.22% 4,855 $266K $54.77 $4K
88 MMM 0.22% 1,635 $262K $160.10 $8K
89 CL 0.22% 3,310 $262K $79.02 -$3K
90 AXP 0.21% 686 $254K $369.95 $26K
91 CMCSA 0.21% 8,164 $244K $29.89 -$12K
92 GSL 0.20% 6,805 $238K $35.04 +6,805 NEW
93 DHR 0.20% 1,020 $233K $228.92 -$14K -228 -18.3%
94 GWW 0.20% 230 $232K $1,009.05 $13K
95 BMRC 0.19% 8,542 $222K $26.01 $15K
96 META 0.18% 320 $211K $660.09 -$24K
97 FI 0.17% 3,015 $203K $67.17 +3,015 NEW
98 HPQ 0.17% 9,081 $202K $22.28 -$45K
99 SGOV 0.17% 2,000 $201K $100.38 -$640
100 GBTG 0.15% 23,126 $177K $7.65 -$10K

New Positions

SymbolValue% Port
AMZN $4M 3.79%
IEMG $390K 0.33%
GH $325K 0.28%
GSL $238K 0.20%
FI $203K 0.17%

Sold Out Positions

SymbolValue% Port
DIS —%
NKE —%
EFX —%
KMB —%
View SEC EDGAR Filings for WULFF, HANSEN & CO. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms