Willis Investment Counsel
Long book
$1.83B
Q1 2026
Positions
123
Top-10 weight
27%
concentration
Last quarter
+7.0%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsWillis Investment Counsel is an institutional manager, running a $1.83B US long book across 123 positions.
The portfolio is moderately concentrated (top 10 ≈ 27% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: JOHNSON & JOHNSON, CISCO SYSTEMS INC, LOCKHEED MARTIN CORP, TEXAS INSTRUMENTS INC, CHUBB LTD.
Over the last 9 quarters its long book ran on average 2.1pp 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
-2.2%
Q2 2024
+8.0%
Q3 2024
-3.5%
Q4 2024
+0.2%
Q1 2025
+2.0%
Q2 2025
+4.0%
Q3 2025
+1.1%
Q4 2025
+4.8%
Q1 2026
+7.0%
Sector allocation
Technology 21%
Healthcare 19%
Industrials 14%
Consumer discretionary 10%
Financials 7%
Energy 7%
Services media 6%
Consumer staples 4%
Long book by quarter
What does Willis Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| JNJ JOHNSON & JOHNSON | Healthcare | 289.4K | $70.7M | 3.9% | -20.8% |
| CSCO CISCO SYSTEMS INC | Technology | 834.1K | $64.7M | 3.5% | +0.1% |
| LMT LOCKHEED MARTIN CORP | Industrials | 91.2K | $55.1M | 3.0% | -3.2% |
| TXN TEXAS INSTRUMENTS INC | Technology | 266.6K | $51.8M | 2.8% | +0.3% |
| CB CHUBB LTD | Financials | 153.8K | $50.1M | 2.7% | +0.2% |
| PFE PFIZER INC | Healthcare | 1.7M | $48.2M | 2.6% | +0.3% |
| MSFT MICROSOFT CORP | Technology | 113.4K | $42.0M | 2.3% | +0.3% |
| PAYX PAYCHEX INC | Services media | 437.0K | $40.3M | 2.2% | +33.8% |
| XOM EXXON MOBIL CORP | Energy | 229.8K | $39.0M | 2.1% | +0.2% |
| ACN ACCENTURE PLC-CL A | Services media | 194.8K | $38.6M | 2.1% | +0.5% |
| MRK MERCK & CO. INC. | Healthcare | 313.7K | $37.7M | 2.1% | Held |
| HSY HERSHEY CO/THE | Consumer staples | 181.0K | $37.6M | 2.1% | +0.2% |
| PEP PEPSICO INC | Consumer staples | 229.1K | $35.6M | 1.9% | +0.2% |
| HD HOME DEPOT INC | Consumer discretionary | 107.5K | $35.4M | 1.9% | +0.2% |
| CAT CATERPILLAR INC | Industrials | 49.7K | $35.2M | 1.9% | -37.8% |
| COP CONOCOPHILLIPS | Energy | 257.4K | $34.0M | 1.9% | +0.3% |
| MDT MEDTRONIC PLC | Healthcare | 392.0K | $34.0M | 1.9% | -1.3% |
| AFL AFLAC INC | Financials | 302.2K | $33.2M | 1.8% | +0.4% |
| TSCO TRACTOR SUPPLY COMPANY | Consumer discretionary | 683.2K | $31.0M | 1.7% | +0.8% |
| PG PROCTER & GAMBLE CO/THE | Other | 209.8K | $30.3M | 1.7% | -0.1% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 148.5K | $30.2M | 1.6% | +73.3% |
| DGX QUEST DIAGNOSTICS INC | Healthcare | 151.8K | $29.7M | 1.6% | Held |
| T AT&T INC | Communications | 1.0M | $29.4M | 1.6% | Held |
| GNRC GENERAC HOLDINGS INC | Industrials | 145.4K | $28.4M | 1.6% | +1.6% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 559.5K | $28.1M | 1.5% | +1.8% |
| AAPL APPLE INC | Technology | 109.1K | $27.7M | 1.5% | -0.4% |
| ETN EATON CORP PLC | Industrials | 77.1K | $27.6M | 1.5% | Held |
| AEP AMERICAN ELECTRIC POWER | Utilities | 203.5K | $26.7M | 1.5% | Held |
| MCD MCDONALD'S CORP | Consumer discretionary | 84.8K | $26.4M | 1.4% | Held |
| VLO VALERO ENERGY CORP | Energy | 104.6K | $25.8M | 1.4% | Held |
| DRI DARDEN RESTAURANTS INC | Consumer discretionary | 122.6K | $24.0M | 1.3% | Held |
| CLX CLOROX COMPANY | Other | 230.0K | $23.8M | 1.3% | +12.4% |
| JPM JPMORGAN CHASE & CO | Financials | 77.9K | $22.9M | 1.3% | Held |
| GD GENERAL DYNAMICS CORP | Industrials | 66.7K | $22.9M | 1.3% | Held |
| KEYS KEYSIGHT TECHNOLOGIES IN | Technology | 81.0K | $22.9M | 1.2% | +0.5% |
| DUK DUKE ENERGY CORP | Utilities | 160.3K | $21.0M | 1.1% | Held |
| CVX CHEVRON CORP | Energy | 100.0K | $20.7M | 1.1% | Held |
| ABT ABBOTT LABORATORIES | Healthcare | 199.3K | $20.5M | 1.1% | Held |
| MMM 3M CO | Healthcare | 136.6K | $19.8M | 1.1% | +0.3% |
| LOW LOWE'S COS INC | Consumer discretionary | 83.4K | $19.7M | 1.1% | Held |
| DE DEERE & CO | Industrials | 34.3K | $19.3M | 1.1% | Held |
| EMR EMERSON ELECTRIC CO | Industrials | 139.6K | $18.3M | 1.0% | Held |
| GWW WW GRAINGER INC | Consumer discretionary | 16.7K | $18.2M | 1.0% | +1.1% |
| AXP AMERICAN EXPRESS CO | Financials | 57.2K | $17.3M | 0.9% | +1.0% |
| LH LABCORP HOLDINGS INC | Healthcare | 64.5K | $17.2M | 0.9% | -0.8% |
| ZTS ZOETIS INC | Healthcare | 140.0K | $16.5M | 0.9% | +34.3% |
| FTNT FORTINET INC | Technology | 196.2K | $16.0M | 0.9% | +1.1% |
| WM WASTE MANAGEMENT INC | Utilities | 68.9K | $15.8M | 0.9% | -0.1% |
| HUBB HUBBELL INC | Technology | 27.8K | $13.6M | 0.7% | +1.0% |
| LLY ELI LILLY & CO | Healthcare | 14.8K | $13.6M | 0.7% | -29.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 5, 2026 | 123 | $1.83B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 22, 2026 | 130 | $1.94B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 5, 2025 | 127 | $1.83B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 118 | $1.71B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 16, 2025 | 117 | $1.49B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 24, 2025 | 116 | $1.52B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 11, 2024 | 113 | $1.54B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 24, 2024 | 107 | $1.44B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 24, 2024 | 107 | $1.45B | canonical | SEC ↗ |
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