SFE Investment Counsel
Long book
$624.2M
Q1 2026
Positions
140
Top-10 weight
29%
concentration
Last quarter
+16.3%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsSFE Investment Counsel is an institutional manager, running a $624.2M US long book across 140 positions.
The portfolio is moderately concentrated (top 10 ≈ 29% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, ONEOK INC, BROADCOM INC.
Over the last 9 quarters its long book ran on average 0.4pp per quarter behind the S&P 500, beating the index in 5 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
+2.3%
Q2 2024
+6.6%
Q3 2024
-0.2%
Q4 2024
-4.5%
Q1 2025
+8.1%
Q2 2025
+9.5%
Q3 2025
+2.9%
Q4 2025
-4.0%
Q1 2026
+16.3%
Sector allocation
Technology 39%
Industrials 14%
Financials 11%
Healthcare 10%
Consumer discretionary 10%
Utilities 9%
Services media 4%
Materials 1%
Long book by quarter
What does SFE Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 136.4K | $23.8M | 3.8% | +0.6% |
| AAPL APPLE INC | Technology | 86.9K | $22.0M | 3.5% | -0.1% |
| MSFT MICROSOFT CORP | Technology | 57.3K | $21.2M | 3.4% | +4.2% |
| OKE ONEOK INC | Utilities | 205.0K | $18.5M | 3.0% | -0.7% |
| AVGO BROADCOM INC | Technology | 57.9K | $17.9M | 2.9% | +10.3% |
| JPM JPMORGAN CHASE & CO | Financials | 59.6K | $17.5M | 2.8% | -2.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 79.6K | $16.6M | 2.7% | +8.7% |
| NEE NEXTERA ENERGY INC | Utilities | 174.9K | $16.2M | 2.6% | -4.6% |
| PANW PALO ALTO NETWORKS INC | Technology | 84.5K | $13.6M | 2.2% | +6.6% |
| GOOGL ALPHABET INC-CL A | Technology | 45.6K | $13.1M | 2.1% | -3.6% |
| QCOM QUALCOMM INC | Technology | 101.0K | $13.0M | 2.1% | +5.1% |
| LOW LOWE'S COS INC | Consumer discretionary | 54.6K | $12.9M | 2.1% | -0.7% |
| FSLR FIRST SOLAR INC | Technology | 63.3K | $12.5M | 2.0% | -1.2% |
| USB US BANCORP | Financials | 223.7K | $11.6M | 1.9% | -3.5% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 11.2K | $11.1M | 1.8% | -0.2% |
| PWR QUANTA SERVICES INC | Industrials | 19.2K | $10.5M | 1.7% | +10.4% |
| CMI CUMMINS INC | Industrials | 19.4K | $10.4M | 1.7% | -14.6% |
| GOOG ALPHABET INC-CL C | Technology | 33.5K | $9.6M | 1.5% | -12.5% |
| IQV IQVIA HOLDINGS INC | Healthcare | 51.9K | $8.9M | 1.4% | +8.1% |
| LH LABCORP HOLDINGS INC | Healthcare | 32.9K | $8.8M | 1.4% | +0.4% |
| J JACOBS SOLUTIONS INC | Industrials | 67.6K | $8.6M | 1.4% | +22.5% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 34.7K | $8.4M | 1.3% | +1.7% |
| ABT ABBOTT LABORATORIES | Healthcare | 81.7K | $8.4M | 1.3% | +6.8% |
| PRU PRUDENTIAL FINANCIAL INC | Financials | 85.7K | $8.4M | 1.3% | +6.7% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 23.7K | $8.2M | 1.3% | -8.6% |
| URI UNITED RENTALS INC | Services media | 11.0K | $8.0M | 1.3% | +2.5% |
| BX BLACKSTONE INC | Financials | 66.7K | $7.7M | 1.2% | +27.1% |
| CLF CLEVELAND-CLIFFS INC | Materials | 895.5K | $7.6M | 1.2% | -1.3% |
| WSM WILLIAMS-SONOMA INC | Consumer discretionary | 40.8K | $7.4M | 1.2% | +16.2% |
| ETN EATON CORP PLC | Industrials | 20.0K | $7.2M | 1.1% | +26.3% |
| DHR DANAHER CORP | Technology | 36.1K | $6.8M | 1.1% | +32.8% |
| AMAT APPLIED MATERIALS INC | Technology | 19.3K | $6.6M | 1.1% | -6.5% |
| JNJ JOHNSON & JOHNSON | Healthcare | 26.6K | $6.5M | 1.0% | -3.7% |
| AMD ADVANCED MICRO DEVICES | Technology | 31.1K | $6.3M | 1.0% | +5.1% |
| HASI HA SUSTAINABLE INFRASTRUCTUR | Financials | 158.6K | $5.8M | 0.9% | -4.4% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 56.9K | $5.6M | 0.9% | +88.9% |
| DCI DONALDSON CO INC | Industrials | 65.8K | $5.6M | 0.9% | -4.4% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 24.2K | $5.5M | 0.9% | -0.3% |
| LLY ELI LILLY & CO | Healthcare | 5.8K | $5.4M | 0.9% | -4.3% |
| UBER UBER TECHNOLOGIES INC | Services media | 73.4K | $5.3M | 0.8% | +48.8% |
| XYL XYLEM INC | Industrials | 43.1K | $5.2M | 0.8% | -0.7% |
| KMI KINDER MORGAN INC | Utilities | 151.8K | $5.1M | 0.8% | +1.0% |
| CSCO CISCO SYSTEMS INC | Technology | 58.9K | $4.6M | 0.7% | -1.0% |
| TTEK TETRA TECH INC | Services media | 147.4K | $4.4M | 0.7% | +43.9% |
| GEV GE VERNOVA INC | Industrials | 5.0K | $4.4M | 0.7% | -11.8% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 32.1K | $4.4M | 0.7% | -14.8% |
| ABBV ABBVIE INC | Healthcare | 19.4K | $4.2M | 0.7% | -0.4% |
| FDX FEDEX CORP | Industrials | 11.2K | $4.0M | 0.6% | -35.1% |
| ROP ROPER TECHNOLOGIES INC | Technology | 10.0K | $3.5M | 0.6% | -5.1% |
| KMB KIMBERLY-CLARK CORP | Other | 36.6K | $3.5M | 0.6% | +124.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 1, 2026 | 143 | $634.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 146 | $652.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 147 | $626.3M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 7, 2025 | 141 | $567.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 140 | $500.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 30, 2025 | 114 | $470.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 25, 2024 | 116 | $480.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 5, 2024 | 119 | $450.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 117 | $441.4M | canonical | SEC ↗ |
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