SEC 13F Intelligence

Managers / Q1 2026

Ironwood Investment Counsel, LLC

CIK 0001330463 · THE SCOTTSDALE FORUM, 6263 N. SCOTTSDALE ROAD, SUITE 200, SCOTTSDALE, AZ, 85250 · 602-493-4042

Reported Value
$694M
Q1 2026
Positions
264
Filings on Record
32
2019–present window
Filed
May 7, 2026
original filing

Summary

Ironwood Investment Counsel, LLC reported $694M in U.S.-listed holdings across 264 positions for Q1 2026.

Its largest position, AAPL, represents 4.4% of the portfolio.

Compared with Q4 2025, the fund opened 9 new positions and exited 12.

Portfolio Metrics

Turnover
+6.0%
vs prior filed quarter
Top-10 Concentration
+28.5%
share of reported value
Largest Position
+4.4%
Apple
New / Exited
9 / 12
positions this quarter

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: $228MQ4 ’18Q1 ’19: $254MQ2 ’19: $262MQ3 ’19: $271MQ4 ’19: $292MQ4 ’19Q1 ’20: $254MQ2 ’20: $328MQ3 ’20: $370MQ4 ’20: $440MQ4 ’20Q1 ’21: $348MQ2 ’21: $376MQ3 ’21: $390MQ4 ’21: $438MQ4 ’21Q1 ’22: $407MQ2 ’22: $356MQ3 ’22: $350MQ4 ’22: $412MQ4 ’22Q1 ’23: $420MQ2 ’23: $445MQ3 ’23: $475MQ4 ’23: $535MQ4 ’23Q1 ’24: $573MQ2 ’24: $560MQ3 ’24: $601MQ4 ’24: $584MQ4 ’24Q1 ’25: $579MQ2 ’25: $647MQ3 ’25: $686MQ4 ’25: $716MQ4 ’25Q1 ’26: $694Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 67.6%ETP: 23.3%Other: 7.3%ADR: 1.1%REIT: 0.5%Other: 0.2%
  • Common Stock · 67.6% · $469M
  • ETP · 23.3% · $162M
  • Other · 7.3% · $51M
  • ADR · 1.1% · $8M
  • REIT · 0.5% · $3M
  • Other · 0.2% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NOWServiceNow, IncNEW+22.9K22.9K+$2M$2M
LITELumentum Holdings IncNEW+490490+$344,352$344,352
CIENCiena CorpNEW+788788+$305,925$305,925
Tower Semiconductor LtdNEW+1.4K1.4K+$242,864$242,864
Linde PLCNEW+488488+$242,008$242,008
Seagate Technology PLCNEW+615615+$240,932$240,932
COHRCoherent IncNEW+969969+$230,825$230,825
MOAltria Group IncNEW+3.3K3.3K+$219,831$219,831

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

Holdings — Q1 2026

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApplehistory →COM4.45%$31M121.6K
2Schwab Fundemental US Small Company ETFSCHWAB FDT US SC4.39%$30M940.3K
3MSFTMicrosofthistory →COM4.37%$30M82.0K
4GOOGLAlphabet Inc Class ACAP STK CL A · CAP STK CL C3.35%$23M80.9K
5Akre Focus ETFAKRE FOCUS ETF2.66%$18M348.7K
6JNJJohnson & Johnsonhistory →COM2.22%$15M63.1K
7AMZNAmazon.com Inc.history →COM2.18%$15M72.8K
8Schwab Fundamental US Large Company ETFSCHWAB FDT US LG2.09%$15M521.5K
9Berkshire Hathaway Inc Class BCL B NEW1.74%$12M25.1K
10SCHWCharles Schwab Corphistory →COM1.71%$12M126.6K
11AXPAmerican Expresshistory →COM1.62%$11M37.3K
12JPMorgan Ultra-Short Income ETFULTRA SHRT INC1.62%$11M222.3K
13LMTLockheed Martin Corphistory →COM1.51%$10M17.3K
14MAMastercardhistory →COM1.37%$10M19.1K
15Accenture PLCSH CL A1.33%$9M46.5K
16iShares S&P 500 IndexS&P 500 Index1.26%$9M13.3K
17SYYSyscohistory →COM1.23%$9M119.9K
18JPMJP Morgan Chase & Cohistory →COM1.22%$8M28.7K
19USBUS Bancorphistory →COM1.16%$8M154.8K
20iShares Russell 1000 Value IndexRUS 1000 VAL ETF1.10%$8M35.6K
21PEPPepsico Incorporatedhistory →COM1.09%$8M48.9K
22MedtronicCOM1.09%$8M87.5K
23TERTeradyne, Inc.history →COM1.08%$8M25.3K
24KLACKLA Corporationhistory →COM NEW1.04%$7M4.9K
25AVGOBroadcom Ltdhistory →COM1.04%$7M23.2K
26CTVACorteva Inchistory →COM1.01%$7M83.8K
27CMICummins IncCOM0.99%$7M12.7K
28AMGNAmgenCOM0.99%$7M19.4K
29LOWLowes CompaniesCOM0.98%$7M28.9K
30QCOMQualcommCOM0.98%$7M52.9K
31CMCSAComcast Corp New Cl ACL A0.94%$7M227.3K
32Laboratory Corp of America HoldingsCOM NEW0.94%$7M24.4K
33UPSUnited Parcel Service BCOM0.94%$7M66.1K
34BUDAnheuser-Busch Inbev SA ADRSPONSORED ADR0.93%$6M92.6K
35NVDANVIDIA CorpCOM0.92%$6M36.8K
36ADBEAdobe Systems IncCOM0.89%$6M25.4K
37First Trust Preferred Sec & Inc ETFPFD SECS INC ETF0.89%$6M346.2K
38DISWalt Disney CoCOM0.84%$6M60.7K
39EXMOCExxon MobilCOM0.82%$6M33.6K
40Merck & Co IncCOM0.82%$6M47.2K
41IBMIBMCOM0.78%$5M22.3K
42MCKMcKesson CorpCOM0.75%$5M6.0K
43DGDollar General CorpCOM0.73%$5M42.4K
44HDHome DepotCOM0.72%$5M15.2K
45OGEOGE Energy Corp.COM0.69%$5M100.3K
46HSYHershey CompanyCOM0.68%$5M22.6K
47CAHCardinal HealthCOM0.66%$5M21.6K
48METAMeta Platforms Inc Class ACL A0.66%$5M8.0K
49WDAYWorkday Inc Class ACL A0.65%$5M34.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$694M264May 7, 202613F-HRchanges · EDGAR ↗
Q4 2025$716M267Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$686M263Nov 5, 202513F-HRchanges · EDGAR ↗
Q2 2025$647M267Aug 8, 202513F-HRchanges · EDGAR ↗
Q1 2025$579M240May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$584M246Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$601M256Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$560M257Aug 5, 202413F-HRchanges · EDGAR ↗
Q1 2024$573M257May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$535M253Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$475M244Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$445M217Aug 8, 202313F-HRchanges · EDGAR ↗
Q1 2023$420M209May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$412M206Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$350M182Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$356M190Aug 4, 202213F-HRchanges · EDGAR ↗
Q1 2022$407M212May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$438M214Feb 4, 202213F-HRchanges · EDGAR ↗
Q3 2021$390M199Nov 4, 202113F-HRchanges · EDGAR ↗
Q2 2021$376M201Aug 6, 202113F-HRchanges · EDGAR ↗
Q1 2021$348M200May 3, 202113F-HRchanges · EDGAR ↗
Q4 2020$440M213Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$370M192Nov 16, 2020RESTATEMENTchanges · EDGAR ↗
Q2 2020$328M190Aug 11, 202013F-HRchanges · EDGAR ↗
Q1 2020$254M168Apr 29, 202013F-HRchanges · EDGAR ↗
Q4 2019$292M172Feb 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$271M168Nov 7, 201913F-HRchanges · EDGAR ↗
Q2 2019$262M161Jul 30, 2019RESTATEMENTchanges · EDGAR ↗
Q1 2019$254M154May 1, 201913F-HRchanges · EDGAR ↗
Q4 2018$228M150Jan 25, 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 ↗.