SEC 13F Intelligence

Managers / Q3 2025

MARSHALL & SULLIVAN INC /WA/

CIK 0000820123 · 1109 FIRST AVE, SUITE 200, SEATTLE, WA, 98101 · 2066219014

Reported Value
$216M
Q3 2025
Positions
43
Filings on Record
28
2019–present window
Filed
Oct 15, 2025
original filing

Summary

Marshall & Sullivan Inc /Wa/ reported $216M in U.S.-listed holdings across 43 positions for Q3 2025.

Its largest position, Ishares Tr, represents 12.6% of the portfolio.

Compared with Q2 2025, the fund opened 0 new positions and exited 76.

Portfolio Metrics

Turnover
+4.3%
vs prior filed quarter
Top-10 Concentration
+49.5%
share of reported value
Largest Position
+12.6%
Ishares Tr

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $115MQ4 ’18Q1 ’19: $136MQ2 ’19: $142MQ3 ’19: $136MQ4 ’19: $146MQ4 ’19Q1 ’20: $113MQ2 ’20: $137MQ3 ’20: $148MQ4 ’20: $1.0BQ4 ’20Q1 ’21: $166MQ2 ’21: $180MQ3 ’21: $192MQ4 ’21: $207MQ4 ’21Q1 ’22: $179MQ2 ’22: $164MQ3 ’22: $145MQ4 ’22: $159MQ4 ’22Q1 ’23: $165MQ2 ’23: $179MQ3 ’23: $172MQ4 ’23: $189MQ4 ’23Q1 ’24: $202MQ2 ’24: $200MQ3 ’24: $208MQ4 ’24: $205MQ4 ’24Q1 ’25: $197MQ2 ’25: $208MQ3 ’25: $216Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 74.2%ETP: 22.4%Other: 3.4%
  • Common Stock · 74.2% · $160M
  • ETP · 22.4% · $48M
  • Other · 3.4% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RALRALLIANT CORPSOLD OUT−20.4K0−$987,645$0
MRKMERCK & CO INCSOLD OUT−2.5K0−$193,942$0
JPMJPMORGAN CHASE & CO.SOLD OUT−5990−$173,657$0
HFWAHERITAGE FINL CORP WASHSOLD OUT−6.1K0−$146,473$0
GE AEROSPACESOLD OUT−5340−$137,447$0
ORCLORACLE CORPSOLD OUT−6000−$131,178$0
XLFSELECT SECTOR SPDR TRSOLD OUT−2.4K0−$125,688$0
ANETARISTA NETWORKS INCSOLD OUT−1.2K0−$122,772$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRRUSSELL 2000 ETF · MSCI EMG MKT ETF15.23%$33M219.5K
2MSFTMICROSOFT CORPhistory →COM8.00%$17M33.3K
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C4.65%$10M41.3K
4VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF3.99%$9M158.8K
5LRCXLAM RESEARCH CORPhistory →COM NEW3.86%$8M62.1K
6MAMASTERCARD INCORPORATEDhistory →CL A3.51%$8M13.3K
7LINDE PLCSHS3.39%$7M15.4K
8SCHWSCHWAB CHARLES CORPhistory →COM3.23%$7M73.0K
9HDHOME DEPOT INChistory →COM3.21%$7M17.1K
10BKNGBOOKING HOLDINGS INChistory →COM3.21%$7M1.3K
11SYKSTRYKER CORPORATIONhistory →COM3.18%$7M18.5K
12AMZNAMAZON COM INChistory →COM3.15%$7M30.9K
13AAPLAPPLE INChistory →COM3.03%$7M25.6K
14RTXRTX CORPORATIONhistory →COM2.99%$6M38.6K
15MNSTMONSTER BEVERAGE CORP NEWhistory →COM2.70%$6M86.5K
16METAMETA PLATFORMS INChistory →CL A2.67%$6M7.8K
17JNJJOHNSON & JOHNSONhistory →COM2.62%$6M30.5K
18CCKCROWN HLDGS INChistory →COM2.57%$6M57.5K
19LLYELI LILLY & COhistory →COM2.49%$5M7.1K
20FISVFISERV INChistory →COM2.24%$5M37.4K
21DHRDANAHER CORPORATIONhistory →COM2.17%$5M23.6K
22PEPPEPSICO INChistory →COM2.11%$5M32.4K
23TMOTHERMO FISHER SCIENTIFIC INChistory →COM2.00%$4M8.9K
24UNHUNITEDHEALTH GROUP INChistory →COM1.96%$4M12.2K
25ADBEADOBE INChistory →COM1.93%$4M11.8K
26BDXBECTON DICKINSON & COhistory →COM1.72%$4M19.8K
27FTVFORTIVE CORPhistory →COM1.45%$3M63.7K
28VANGUARD INDEX FDSSMALL CP ETF1.42%$3M12.1K
29SPDR S&P 500 ETF TRTR UNIT1.39%$3M4.5K
30PYPLPAYPAL HLDGS INChistory →COM1.10%$2M35.3K
31GBCIGLACIER BANCORP INC NEWCOM0.60%$1M26.5K
32COSTCOSTCO WHSL CORP NEWCOM0.51%$1M1.2K
33NKENIKE INCCL B0.37%$801,47711.5K
34BRK/ABERKSHIRE HATHAWAY INC DELCL A0.35%$754,2001
35GBTCGRAYSCALE BITCOIN TRUST ETFSHS REP COM UT0.17%$362,6714.0K
36TSLATESLA INCCOM0.17%$360,224810
37GQ9SPDR GOLD TRGOLD SHS0.16%$355,4701.0K
38NVDANVIDIA CORPORATIONCOM0.15%$313,4561.7K
39NEENEXTERA ENERGY INCCOM0.13%$287,3913.8K
40ROKROCKWELL AUTOMATION INCCOM0.12%$252,361722
41SBUXSTARBUCKS CORPCOM0.12%$250,3613.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$216M43Oct 15, 202513F-HRchanges · EDGAR ↗
Q2 2025$208M119Jul 11, 202513F-HRchanges · EDGAR ↗
Q1 2025$197M42Apr 10, 202513F-HRchanges · EDGAR ↗
Q4 2024$205M41Jan 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$208M40Oct 9, 202413F-HRchanges · EDGAR ↗
Q2 2024$200M41Jul 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$202M41Apr 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$189M39Jan 11, 202413F-HRchanges · EDGAR ↗
Q3 2023$172M38Oct 6, 202313F-HRchanges · EDGAR ↗
Q2 2023$179M38Jul 12, 202313F-HRchanges · EDGAR ↗
Q1 2023$165M39Apr 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$159M96Jan 18, 202313F-HRchanges · EDGAR ↗
Q3 2022$145M38Oct 28, 202213F-HRchanges · EDGAR ↗
Q2 2022$164M100Jul 6, 202213F-HRchanges · EDGAR ↗
Q1 2022$179M38May 2, 202213F-HRchanges · EDGAR ↗
Q4 2021$207M42Jan 24, 202213F-HRchanges · EDGAR ↗
Q3 2021$192M41Oct 19, 202113F-HRchanges · EDGAR ↗
Q2 2021$180M40Aug 9, 202113F-HRchanges · EDGAR ↗
Q1 2021$166M38May 4, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.0B69Jan 29, 202113F-HRchanges · EDGAR ↗
Q3 2020$148M69Nov 2, 202013F-HRchanges · EDGAR ↗
Q2 2020$137M47Jul 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$113M36May 6, 202013F-HRchanges · EDGAR ↗
Q4 2019$146M38Jan 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$136M39Oct 11, 201913F-HRchanges · EDGAR ↗
Q2 2019$142M41Aug 5, 201913F-HRchanges · EDGAR ↗
Q1 2019$136M42May 8, 201913F-HRchanges · EDGAR ↗
Q4 2018$115M39Jan 28, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.