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SFE Investment Counsel

801 SOUTH FIGUEROA STREET SUITE 610, LOS ANGELES, CA 90017 • 213-612-0220

Q3 2025 · Filed 2025-11-14
Market Value
$626M
+10.3%
Holdings
151
New Purchases
11
Added To
47
Closed
5
Reduced
74
Top 10 Concentration
30.8%
Turnover
10.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 3.80% 3.23% +0.56% $24M
CLF 1.96% 1.41% +0.54% $12M
GOOGL 2.19% 1.73% +0.46% $14M
FSLR 2.46% 2.04% +0.42% $15M
CRM 0.36% 0.00% +0.36% $2M
GOOG 1.60% 1.29% +0.31% $10M
MRVL 0.31% 0.00% +0.31% $2M
IQV 1.48% 1.21% +0.28% $9M
CMI 1.64% 1.42% +0.22% $10M
EXPE 0.90% 0.69% +0.20% $6M
BSJU 0.91% 0.72% +0.20% $6M
FI 1.33% 1.14% +0.19% $8M
NVDA 4.11% 3.96% +0.15% $26M
URI 1.60% 1.47% +0.13% $10M
GLW 0.36% 0.24% +0.11% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMZN 2.69% 3.13% -0.45% $17M
ZTS 0.54% 0.93% -0.39% $3M
COST 1.56% 1.86% -0.30% $10M
IBM 1.56% 1.81% -0.25% $10M
PANW 2.50% 2.73% -0.22% $16M
ABT 1.71% 1.92% -0.21% $11M
MSFT 4.48% 4.68% -0.21% $28M
WY 0.70% 0.88% -0.18% $4M
ROP 0.84% 1.01% -0.17% $5M
PRU 1.24% 1.40% -0.15% $8M
HON 0.69% 0.84% -0.15% $4M
BSJQ 1.16% 1.30% -0.14% $7M
JPM 3.14% 3.27% -0.13% $20M
OKE 2.23% 2.36% -0.13% $14M
AWK 1.00% 1.12% -0.12% $6M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 26.0%
Financial Services 22.8%
Industrials 14.4%
Healthcare 9.6%
Consumer Cyclical 7.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 40 $243M 38.8%
Large Cap 73 $283M 45.2%
Mid Cap 20 $55M 8.8%
Small Cap 12 $37M 6.0%
Micro Cap 6 $8M 1.2%

Portfolio Analytics

Avg Market Cap
$346.5B
Median Market Cap
$69.5B
Avg P/E
39.9
Median P/E
28.4
Avg Dividend Yield
0.02%
Avg Beta
0.99
# Stocks
112
# ETFs / Funds
39

Top Holdings (151 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 4.48% 54,076 $28M $517.95 $1M +665 +1.2%
2 NVDA 4.11% 138,026 $26M $186.58 $3M -4,286 -3.0%
3 AAPL 3.80% 93,299 $24M $254.63 $5M +3,901 +4.4%
4 JPM 3.14% 62,370 $20M $315.43 $1M -1,722 -2.7%
5 AVGO 2.86% 54,297 $18M $329.91 $1M -6,056 -10.0%
6 AMZN 2.69% 76,586 $17M $219.57 -$965K -4,460 -5.5%
7 QCOM 2.56% 96,457 $16M $166.36 $948K +1,650 +1.7%
8 PANW 2.50% 76,960 $16M $203.62 $195K +1,337 +1.8%
9 FSLR 2.46% 69,813 $15M $220.53 $4M +3
10 OKE 2.23% 191,627 $14M $72.97 $591K +27,568 +16.8%
11 NEE 2.21% 182,855 $14M $75.49 $1M +4,666 +2.6%
12 GOOGL 2.19% 56,353 $14M $243.10 $4M +700 +1.3%
13 LOW 2.16% 53,837 $14M $251.31 $2M +235 +0.4%
14 CLF 1.96% 1,003,105 $12M $12.20 $4M -52,260 -5.0%
15 USB 1.79% 232,185 $11M $48.33 $720K +108 +0.1%
16 ABT 1.71% 79,954 $11M $133.94 -$180K -109 -0.1%
17 CMI 1.64% 24,249 $10M $422.37 $2M -281 -1.1%
18 GOOG 1.60% 41,168 $10M $243.55 $3M -26 -0.1%
19 URI 1.60% 10,467 $10M $954.66 $2M -577 -5.2%
20 IBM 1.56% 34,667 $10M $282.16 -$504K -227 -0.7%
21 COST 1.56% 10,567 $10M $925.67 -$765K -86 -0.8%
22 IQV 1.48% 48,898 $9M $189.94 $2M +5,407 +12.4%
23 LH 1.44% 31,439 $9M $287.06 $601K -650 -2.0%
24 FI 1.33% 64,401 $8M $128.93 $2M +26,872 +71.6%
25 BSJS 1.30% 368,478 $8M $22.08 $295K +12,865 +3.6%
26 LHX 1.28% 26,236 $8M $305.41 $1M -456 -1.7%
27 BSJR 1.25% 345,299 $8M $22.74 $257K +10,774 +3.2%
28 PRU 1.24% 74,983 $8M $103.74 -$142K +1,264 +1.7%
29 BSJT 1.23% 356,720 $8M $21.57 $429K +19,103 +5.7%
30 BX 1.19% 43,560 $7M $170.85 $840K -580 -1.3%
31 J 1.17% 49,007 $7M $149.86 $926K +183 +0.4%
32 BSJQ 1.16% 311,239 $7M $23.41 -$111K -5,739 -1.8%
33 PWR 1.12% 16,865 $7M $414.42 $508K -277 -1.6%
34 XYL 1.02% 43,332 $6M $147.50 $835K +382 +0.9%
35 DCI 1.00% 76,672 $6M $81.85 $849K -1,576 -2.0%
36 BSCS 1.00% 304,914 $6M $20.57 $422K +19,391 +6.8%
37 AWK 1.00% 45,040 $6M $139.19 -$82K -615 -1.4%
38 WSM 0.99% 31,740 $6M $195.45 $1M -90 -0.3%
39 ABBV 0.96% 26,029 $6M $231.54 $1M -208 -0.8%
40 BSJU 0.91% 218,401 $6M $26.16 $2M +62,158 +39.8%
41 EXPE 0.90% 26,249 $6M $213.75 $2M +2,872 +12.3%
42 BSCT 0.86% 287,562 $5M $18.81 $449K +22,342 +8.4%
43 ROP 0.84% 10,545 $5M $498.69 -$455K +465 +4.6%
44 BDX 0.83% 27,767 $5M $187.17 $379K -203 -0.7%
45 JNJ 0.83% 27,999 $5M $185.42 $908K -46 -0.2%
46 DHR 0.82% 25,742 $5M $198.26 $137K +597 +2.4%
47 BSCR 0.81% 256,556 $5M $19.71 $234K +11,120 +4.5%
48 AMD 0.80% 31,096 $5M $161.79 $455K -1,151 -3.6%
49 HASI 0.80% 163,577 $5M $30.70 $594K -1,263 -0.8%
50 ETN 0.77% 12,950 $5M $374.25 $62K -452 -3.4%
51 LLY 0.76% 6,242 $5M $763.00 $983K +1,393 +28.7%
52 WY 0.70% 176,108 $4M $24.79 -$640K -18,745 -9.6%
53 HON 0.69% 20,488 $4M $210.50 -$426K +138 +0.7%
54 AMAT 0.69% 21,004 $4M $204.74 $492K +200 +1.0%
55 CSCO 0.65% 59,523 $4M $68.42 -$96K -555 -0.9%
56 FDX 0.65% 17,187 $4M $235.81 $410K +1,160 +7.2%
57 GE 0.62% 12,921 $4M $300.83 $366K -758 -5.5%
58 BSCQ 0.60% 192,633 $4M $19.56 -$280K -14,739 -7.1%
59 KMI 0.57% 126,655 $4M $28.31 $69K +7,030 +5.9%
60 BSCU 0.55% 204,342 $3M $16.90 $343K +18,980 +10.2%
61 GEV 0.55% 5,605 $3M $614.90 $95K -729 -11.5%
62 ZTS 0.54% 23,253 $3M $146.32 -$2M -10,759 -31.6%
63 ULTA 0.48% 5,465 $3M $546.75 $269K -348 -6.0%
64 TTEK 0.44% 81,760 $3M $33.38 -$214K -96 -0.1%
65 UBER 0.43% 27,518 $3M $97.97 $741K +6,569 +31.4%
66 DE 0.43% 5,860 $3M $457.26 -$277K +45 +0.8%
67 JEPI 0.38% 42,157 $2M $57.10 -$387K -6,993 -14.2%
68 CRM 0.36% 9,523 $2M $237.00 +9,523 NEW
69 BRK-B 0.36% 4,477 $2M $502.74 -$35K -229 -4.9%
70 CVX 0.36% 14,479 $2M $155.29 $98K -538 -3.6%
71 GLW 0.36% 27,124 $2M $82.03 $853K +1,035 +4.0%
72 KLAC 0.34% 2,000 $2M $1,078.60 $366K
73 PNW 0.34% 23,535 $2M $89.66 $25K +225 +1.0%
74 IVV 0.32% 3,004 $2M $669.26 $99K -75 -2.4%
75 MRVL 0.31% 23,050 $2M $84.07 +23,050 NEW
76 PFE 0.29% 70,300 $2M $25.48 -$32K -4,930 -6.5%
77 NFLX 0.28% 1,461 $2M $1,198.92 -$205K
78 BEP 0.26% 63,537 $2M $25.79 $132K +4,475 +7.6%
79 TNC 0.25% 19,470 $2M $81.06 -$97K -2,150 -9.9%
80 BSJP 0.22% 59,596 $1M $23.06 -$538K -23,287 -28.1%
81 EQAL 0.22% 26,409 $1M $52.00 $39K -687 -2.5%
82 T 0.20% 44,979 $1M $28.24 -$124K -3,205 -6.7%
83 EWBC 0.19% 11,075 $1M $106.45 $48K -120 -1.1%
84 F-PD 0.16% 82,545 $987K $11.96 $9K -7,640 -8.5%
85 BSCV 0.15% 58,047 $968K $16.68 $420K +24,852 +74.9%
86 CLH 0.15% 3,970 $922K $232.22 -$93K -422 -9.6%
87 LMNR 0.14% 60,010 $891K $14.85 -$48K
88 BMY 0.14% 19,109 $862K $45.10 -$334K -6,731 -26.1%
89 EMR 0.14% 6,467 $848K $131.18 -$13K +7 +0.1%
90 DRI 0.13% 4,280 $815K $190.36 -$38K +370 +9.5%
91 XEL 0.13% 9,920 $800K $80.65 $60K -950 -8.7%
92 SHOP 0.12% 5,085 $756K $148.61 $511K +2,965 +139.9%
93 CRSP 0.12% 11,560 $749K $64.81 $397K +4,328 +59.9%
94 IAU 0.11% 9,717 $707K $72.77 $101K
95 WDAY 0.11% 2,910 $701K $240.73 $6K +15 +0.5%
96 SHW 0.10% 1,895 $656K $346.26 $12K +20 +1.1%
97 BSJV 0.10% 24,325 $652K $26.79 +24,325 NEW
98 THO 0.10% 6,259 $649K $103.69 -$106K -2,243 -26.4%
99 PI 0.10% 3,585 $648K $180.75 $115K -1,215 -25.3%
100 RSPT 0.10% 14,469 $645K $44.58 $41K -340 -2.3%

New Positions

SymbolValue% Port
CRM $2M 0.36%
MRVL $2M 0.31%
BSJV $652K 0.10%
QUIK $248K 0.04%
APH $224K 0.04%
CGDV $209K 0.03%
CGUS $206K 0.03%
ORCL $204K 0.03%
PLTR $204K 0.03%
INVZ $53K 0.01%
VUZI $31K 0.01%

Sold Out Positions

SymbolValue% Port
XOM —%
WAT —%
ISRG —%
VTV —%
TXN —%
View SEC EDGAR Filings for SFE Investment Counsel →

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