Carnegie Investment Counsel
Long book
$5.13B
Q1 2026
Positions
559
Top-10 weight
23%
concentration
Last quarter
+11.8%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsCarnegie Investment Counsel is an institutional manager, running a $5.13B US long book across 559 positions.
The portfolio is broadly diversified across 559 positions (top 10 only 23%). Turnover is modest: positions are typically held for years. Current anchor positions: ALPHABET INC-CL A, APPLE INC, MICROSOFT CORP, JPMORGAN CHASE & CO, NVIDIA CORP.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.7%
Q2 2024
+6.6%
Q3 2024
+1.8%
Q4 2024
-3.2%
Q1 2025
+9.5%
Q2 2025
+7.2%
Q3 2025
+0.7%
Q4 2025
-3.4%
Q1 2026
+11.8%
Sector allocation
Technology 31%
Financials 17%
Consumer discretionary 13%
Industrials 11%
Healthcare 8%
Services media 5%
Utilities 5%
Other 4%
Long book by quarter
What does Carnegie Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GOOGL ALPHABET INC-CL A | Technology | 602.3K | $170.5M | 3.3% | -4.2% |
| AAPL APPLE INC | Technology | 664.4K | $168.6M | 3.3% | -3.1% |
| MSFT MICROSOFT CORP | Technology | 429.0K | $156.6M | 3.1% | +2.8% |
| JPM JPMORGAN CHASE & CO | Financials | 420.8K | $121.0M | 2.4% | +0.4% |
| NVDA NVIDIA CORP | Technology | 652.7K | $113.8M | 2.2% | -6.7% |
| AVGO BROADCOM INC | Technology | 363.5K | $110.5M | 2.2% | +3.4% |
| AMZN AMAZON.COM INC | Consumer discretionary | 484.7K | $100.9M | 2.0% | -0.1% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 198.2K | $93.1M | 1.8% | +2.9% |
| META META PLATFORMS INC-CLASS A | Technology | 163.7K | $91.2M | 1.8% | +1.6% |
| SYK STRYKER CORP | Healthcare | 243.0K | $78.0M | 1.5% | +9.5% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 844.0K | $77.3M | 1.5% | +5.0% |
| MA MASTERCARD INC - A | Services media | 143.5K | $69.3M | 1.4% | +1.2% |
| ETN EATON CORP PLC | Industrials | 192.1K | $68.7M | 1.3% | -0.1% |
| GOOG ALPHABET INC-CL C | Technology | 231.2K | $66.3M | 1.3% | -1.0% |
| AMAT APPLIED MATERIALS INC | Technology | 165.7K | $56.6M | 1.1% | -14.8% |
| PGR PROGRESSIVE CORP | Financials | 285.1K | $56.5M | 1.1% | -1.2% |
| V VISA INC-CLASS A SHARES | Services media | 183.7K | $55.5M | 1.1% | +0.5% |
| CB CHUBB LTD | Financials | 160.8K | $50.6M | 1.0% | +3.2% |
| SHW SHERWIN-WILLIAMS CO/THE | Consumer discretionary | 153.0K | $49.0M | 1.0% | -3.4% |
| HD HOME DEPOT INC | Consumer discretionary | 154.3K | $48.7M | 0.9% | +42.4% |
| QCOM QUALCOMM INC | Technology | 369.2K | $46.3M | 0.9% | +0.6% |
| CME CME GROUP INC | Financials | 162.5K | $45.7M | 0.9% | +3.4% |
| LNT ALLIANT ENERGY CORP | Utilities | 638.3K | $43.7M | 0.9% | +4.0% |
| ORLY O'REILLY AUTOMOTIVE INC | Consumer discretionary | 492.9K | $43.5M | 0.8% | +5.5% |
| UBER UBER TECHNOLOGIES INC | Services media | 587.3K | $42.2M | 0.8% | +0.9% |
| NEE NEXTERA ENERGY INC | Utilities | 450.9K | $41.9M | 0.8% | -1.6% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 840.2K | $39.9M | 0.8% | +3.8% |
| BLK BLACKROCK INC | Financials | 43.2K | $39.8M | 0.8% | +5.9% |
| RTX RTX CORP | Industrials | 216.2K | $39.2M | 0.8% | -7.5% |
| ZTS ZOETIS INC | Healthcare | 333.8K | $38.2M | 0.7% | +9.6% |
| AMGN AMGEN INC | Healthcare | 107.3K | $37.7M | 0.7% | +0.9% |
| ABBV ABBVIE INC | Healthcare | 182.0K | $37.5M | 0.7% | +11.2% |
| CASY CASEY'S GENERAL STORES INC | Consumer discretionary | 50.6K | $36.9M | 0.7% | -0.7% |
| LOW LOWE'S COS INC | Consumer discretionary | 153.6K | $36.3M | 0.7% | -3.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 35.8K | $35.7M | 0.7% | -2.1% |
| ECL ECOLAB INC | Other | 133.8K | $35.6M | 0.7% | -3.5% |
| NOC NORTHROP GRUMMAN CORP | Technology | 50.8K | $34.6M | 0.7% | -7.7% |
| NSC NORFOLK SOUTHERN CORP | Industrials | 125.8K | $34.2M | 0.7% | +5.7% |
| ABT ABBOTT LABORATORIES | Healthcare | 339.6K | $33.5M | 0.7% | +6.5% |
| CVX CHEVRON CORP | Energy | 158.6K | $32.8M | 0.6% | -1.6% |
| JNJ JOHNSON & JOHNSON | Healthcare | 125.6K | $30.7M | 0.6% | -21.5% |
| DECK DECKERS OUTDOOR CORP | Other | 323.2K | $30.5M | 0.6% | New |
| TJX TJX COMPANIES INC | Consumer discretionary | 189.6K | $30.3M | 0.6% | -7.3% |
| ULTA ULTA BEAUTY INC | Consumer discretionary | 60.6K | $30.0M | 0.6% | -5.0% |
| DCI DONALDSON CO INC | Industrials | 363.7K | $29.6M | 0.6% | +2.8% |
| BAC BANK OF AMERICA CORP | Financials | 625.9K | $29.1M | 0.6% | +13.8% |
| NET CLOUDFLARE INC - CLASS A | Technology | 132.9K | $27.4M | 0.5% | -1.4% |
| KMI KINDER MORGAN INC | Utilities | 814.1K | $27.3M | 0.5% | +0.2% |
| UNH UNITEDHEALTH GROUP INC | Financials | 104.8K | $27.2M | 0.5% | -2.8% |
| KRMN KARMAN HOLDINGS INC | Industrials | 333.0K | $26.7M | 0.5% | -3.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 1, 2026 | 559 | $5.13B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 23, 2026 | 564 | $5.42B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 16, 2025 | 551 | $5.31B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 31, 2025 | 541 | $4.98B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 482 | $4.21B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 15, 2025 | 456 | $3.48B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 10, 2024 | 463 | $3.40B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 22, 2024 | 466 | $3.21B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 495 | $3.21B | canonical | SEC ↗ |
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