SFE Investment Counsel
SFE Investment Counsel reported 150 US-listed holdings worth $732.1 million in its 13F for the quarter ended 30 September 2026, filed 29 October 2026. Its largest: NVIDIA Corp. (4.4%), Microsoft Corp. (4.1%) and Palo Alto Networks Inc. (3.9%). Against the quarter before, it opened 13 positions, added to 64, trimmed 55 and sold out of 12.
Reported holdings$732.1M+0.8% on Q2 2026
Positions150+1 on Q2 2026
The largest ten31.4%of its reported holdings
Latest 13FQ3 2026filed 29 October 2026
OpenedAdded toTrimmed
The 14 largest of its 150 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +24.7% over the 8 quarters to 30 September 2026, against +32.9% for the S&P 500.
Its reported holdingsThe S&P 500
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Opened 13Added 64Held 18Trimmed 55Sold out 12
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 13
- ONEOK Inc. OKE$17.1 million
- American Electric Power Co. Inc. AEP$575,997
- VG Totl STK Vprs VTI$435,990
- Linde plc LIN$330,831
- Fair Isaac Corp. FICO$280,238
- ExxonMobil Holdings Corp. XOM$264,306
- CrowdStrike Holdings, Inc. CRWD$245,423
- CME Group Inc. CME$228,447
and 5 more in the table below
Added to 64
- Honeywell Aerospace Inc. HONA+41,142 shares · +305%
- Marvell Technology, Inc. MRVL+8,253 shares · +17%
- L3Harris Technologies, Inc. LHX+7,990 shares · +34%
- Invesco Exch TRD SLF Idx FD BSCV+95,917 shares · +66%
- Invesco Exch TRD SLF Idx FD BSJV+49,290 shares · +43%
- First Solar, Inc. FSLR+6,335 shares · +10%
- Invesco Exch TRD SLF Idx FD BSCW+54,800 shares · +365%
- Intuitive Surgical Inc. ISRG+2,548 shares · +106%
and 56 more in the table below
Trimmed 55
- Prudential Financial Inc. PRU-31,208 shares · -35%
- Palo Alto Networks Inc. PANW-7,758 shares · -10%
- Salesforce, Inc. CRM-9,747 shares · -73%
- Invesco Bulletshares 2026 High Yield Corp. Bond ETF BSJQ-83,085 shares · -50%
- Advanced Micro Devices Inc. AMD-2,219 shares · -9%
- IQVIA Holdings Inc. IQV-3,837 shares · -6%
- Invesco Exch TRD SLF Idx FD BSCQ-43,067 shares · -29%
- Weyerhaeuser Co. WY-24,729 shares · -12%
and 47 more in the table below
Sold out of 12
- ONEOK Inc. OKE$17.8 million last quarter
- Fedex Fght Hldg Co. Inc. Common Stock FDXF$786,408 last quarter
- AstraZeneca PLC AZN$725,486 last quarter
- Zoetis Inc. ZTS$331,634 last quarter
- Thor Industries Inc. THO$286,360 last quarter
- Waters Corp. WAT$278,655 last quarter
- Capital Group GBL Growth Eqt CGGO$241,662 last quarter
- Hexcel Corp. HXL$235,841 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| NVIDIA Corp. NVDA | 142.4K | $32.5 million | 4.44% | +3.4K |
| Microsoft Corp. MSFT | 57.8K | $29.7 million | 4.05% | -339 |
| Palo Alto Networks Inc. PANW | 72.8K | $28.9 million | 3.95% | -7.8K |
| Apple Inc. AAPL | 86.4K | $28.8 million | 3.93% | +379 |
| Broadcom Inc. AVGO | 59.2K | $20.8 million | 2.84% | +2.2K |
| Amazon.com Inc. AMZN | 82.2K | $20.5 million | 2.80% | +829 |
| JPMorgan Chase & Co. JPM | 58.3K | $19.3 million | 2.63% | -969 |
| Qualcomm Inc. QCOM | 95.1K | $17.5 million | 2.39% | +2.9K |
| ONEOK Inc. OKE | 201.0K | $17.1 million | 2.34% | new |
| Marvell Technology, Inc. MRVL | 57.1K | $15.1 million | 2.06% | +8.3K |
| Alphabet Inc. GOOGL | 43.7K | $15.0 million | 2.05% | +100 |
| IQVIA Holdings Inc. IQV | 55.2K | $14.8 million | 2.03% | -3.8K |
| NextEra Energy Inc. NEE | 185.5K | $14.0 million | 1.92% | +10.5K |
| Advanced Micro Devices Inc. AMD | 21.5K | $13.2 million | 1.80% | -2.2K |
| U.S. Bancorp USB | 220.7K | $12.7 million | 1.74% | -2.6K |
| First Solar, Inc. FSLR | 69.1K | $12.1 million | 1.65% | +6.3K |
| United Rentals, Inc. URI | 11.3K | $11.3 million | 1.55% | +55 |
| Labcorp Holdings Inc. LH | 36.1K | $11.1 million | 1.52% | -351 |
| Alphabet Inc. GOOG | 32.3K | $11.0 million | 1.50% | +91 |
| Quanta Services, Inc. PWR | 16.6K | $10.7 million | 1.46% | -615 |
| Jacobs Solutions Inc. J | 77.1K | $10.4 million | 1.42% | +2.0K |
| Costco Wholesale Corp. COST | 11.4K | $10.4 million | 1.42% | +345 |
| Cleveland-Cliffs Inc. CLF | 918.1K | $10.1 million | 1.38% | +6.4K |
| Lowe's Companies Inc. LOW | 54.7K | $10.1 million | 1.38% | -1.0K |
| Cummins Inc. CMI | 18.8K | $9.7 million | 1.32% | +531 |
| Williams Sonoma Inc. WSM | 40.5K | $9.2 million | 1.26% | -938 |
| Abbott Laboratories ABT | 89.6K | $8.9 million | 1.21% | -608 |
| International Business Machines Corp. IBM | 39.4K | $8.7 million | 1.18% | +763 |
| Danaher Corp. DHR | 38.9K | $8.6 million | 1.18% | +213 |
| Blackstone Inc. BX | 76.7K | $8.6 million | 1.17% | +1.1K |
| Honeywell Aerospace Inc. HONA | 54.6K | $8.5 million | 1.16% | +41.1K |
| Eaton Corp. plc ETN | 19.7K | $8.5 million | 1.16% | +90 |
| Applied Materials Inc. AMAT | 16.5K | $8.4 million | 1.15% | -918 |
| Invesco Bulletshares 2028 High Yield Corporate Bond ETF BSJS | 391.8K | $8.4 million | 1.15% | +1.1K |
| Invesco Exch TRD SLF Idx FD BSCS | 416.5K | $8.4 million | 1.14% | +37.8K |
| iShares Core S&P 500 ETF IVV | 10.9K | $8.3 million | 1.14% | -20 |
| Invesco Exch TRD SLF Idx FD BSJT | 391.3K | $8.1 million | 1.10% | +13.2K |
| Invesco Bulletshares 2027 High Yield Corporate Bond ETF BSJR | 345.9K | $7.6 million | 1.04% | -13.0K |
| L3Harris Technologies, Inc. LHX | 31.8K | $7.5 million | 1.03% | +8.0K |
| Invesco Exch TRD SLF Idx FD BSJU | 299.9K | $7.5 million | 1.02% | +25.3K |
| Invesco Exch TRD SLF Idx FD BSCT | 384.9K | $7.0 million | 0.96% | +40.7K |
| Johnson & Johnson JNJ | 26.1K | $6.9 million | 0.94% | -499 |
| Eli Lilly & Co. LLY | 5.9K | $6.9 million | 0.94% | -45 |
| Prudential Financial Inc. PRU | 59.1K | $6.7 million | 0.92% | -31.2K |
| Invesco ETFs BSCR | 336.6K | $6.6 million | 0.90% | -749 |
| Uber Technologies, Inc. UBER | 92.5K | $6.3 million | 0.87% | +5.4K |
| Donaldson Co. Inc. DCI | 66.5K | $5.8 million | 0.79% | +1.6K |
| Tetra Tech Inc. TTEK | 174.8K | $5.8 million | 0.79% | -2.0K |
| Invesco Exch TRD SLF Idx FD BSCU | 354.4K | $5.7 million | 0.78% | +61.3K |
| HA Sustainable Infrastructure Capital, Inc. HASI | 157.6K | $5.6 million | 0.77% | +2.8K |
| Cisco Systems, Inc. CSCO | 51.4K | $5.5 million | 0.76% | -2.2K |
| Xylem Inc. XYL | 53.6K | $5.4 million | 0.74% | +4.8K |
| Kimberly Clark Corp. KMB | 50.4K | $4.9 million | 0.67% | +2.4K |
| AbbVie Inc. ABBV | 18.5K | $4.8 million | 0.66% | -534 |
| Kinder Morgan, Inc. KMI | 154.5K | $4.7 million | 0.64% | +3.1K |
| GE Vernova Inc. GEV | 4.8K | $4.5 million | 0.62% | +111 |
| American Water Works Company, Inc. AWK | 33.2K | $4.3 million | 0.59% | -573 |
| Invesco Exch TRD SLF Idx FD BSJV | 164.1K | $4.1 million | 0.56% | +49.3K |
| General Electric Co. GE | 12.7K | $4.0 million | 0.54% | +652 |
| KLA Corp. KLAC | 20.0K | $3.9 million | 0.53% | no change |
| ServiceNow, Inc. NOW | 28.4K | $3.8 million | 0.52% | -3.2K |
| Invesco Exch TRD SLF Idx FD BSCV | 240.9K | $3.8 million | 0.52% | +95.9K |
| Honeywell International Inc. HON | 16.7K | $3.5 million | 0.48% | +4.0K |
| Pfizer Inc. PFE | 123.5K | $3.5 million | 0.48% | +985 |
| Weyerhaeuser Co. WY | 173.5K | $3.3 million | 0.45% | -24.7K |
| Becton Dickinson & Co. BDX | 18.1K | $3.2 million | 0.44% | +493 |
| Chevron Corp. CVX | 15.6K | $3.2 million | 0.43% | -26 |
| Corning Inc. GLW | 19.9K | $3.1 million | 0.42% | +1.2K |
| FedEx Corp. FDX | 10.4K | $3.0 million | 0.41% | -90 |
| Chewy, Inc. CHWY | 128.6K | $2.3 million | 0.32% | +4.0K |
| Expedia Group, Inc. EXPE | 8.9K | $2.3 million | 0.32% | -10 |
| Berkshire Hathaway Inc. Class B BRKB | 4.5K | $2.2 million | 0.30% | -5 |
| Pinnacle West Capital Corp. PNW | 23.1K | $2.2 million | 0.29% | +545 |
| Invesco Exch TRD SLF Idx FD BSCQ | 107.8K | $2.1 million | 0.29% | -43.1K |
| Intuitive Surgical Inc. ISRG | 5.0K | $2.0 million | 0.28% | +2.5K |
| Circle Internet Group, Inc. CRCL | 24.4K | $2.0 million | 0.27% | +1.8K |
| Invesco Bulletshares 2026 High Yield Corp. Bond ETF BSJQ | 83.5K | $1.9 million | 0.26% | -83.1K |
| J P Morgan Exchange Traded F JEPI | 30.9K | $1.7 million | 0.24% | -2.2K |
| Roper Technologies Inc. ROP | 4.9K | $1.7 million | 0.23% | -857 |
| Brookfield Renewable Partner BEP | 58.5K | $1.6 million | 0.23% | -5.6K |
| Invesco Exch Traded FD Trust II EQAL | 26.4K | $1.5 million | 0.21% | -425 |
| Netflix Inc. NFLX | 20.4K | $1.4 million | 0.19% | +803 |
| Clean Harbors Inc. CLH | 4.6K | $1.4 million | 0.19% | +896 |
| Invesco Exch TRD SLF Idx FD BSCW | 69.8K | $1.4 million | 0.19% | +54.8K |
| East West Bancorp Inc. EWBC | 10.2K | $1.3 million | 0.17% | -400 |
| Invesco Exch TRD SLF Idx FD BSJW | 46.9K | $1.1 million | 0.16% | +31.0K |
| Darden Restaurants Inc. DRI | 5.7K | $1.1 million | 0.15% | +60 |
| Crispr Therapeutics AG CRSP | 19.4K | $1.1 million | 0.15% | +3.0K |
| Sherwin Williams Co. SHW | 3.3K | $1.1 million | 0.15% | -85 |
| Emerson Electric Co. EMR | 6.6K | $1.0 million | 0.14% | -755 |
| Invesco Exchange Traded FD T RSPT | 14.0K | $921,603 | 0.13% | +141 |
| AT&T Inc. T | 36.9K | $899,579 | 0.12% | +519 |
| iShares Trust IBB | 4.2K | $882,240 | 0.12% | +2.1K |
| Salesforce, Inc. CRM | 3.6K | $827,829 | 0.11% | -9.7K |
| Ford Motor Co. F | 67.8K | $818,150 | 0.11% | -8.4K |
| Tennant Co. TNC | 11.7K | $784,794 | 0.11% | -500 |
| Bristol-Myers Squibb Co. BMY | 12.4K | $774,509 | 0.11% | +200 |
| Edison International EIX | 14.2K | $761,891 | 0.10% | +60 |
| MercadoLibre, Inc. MELI | 430 | $743,268 | 0.10% | +145 |
| Vertiv Holdings Co. VRT | 3.0K | $732,869 | 0.10% | -2 |
| Limoneira Co. LMNR | 60.0K | $714,119 | 0.10% | no change |
| iShares Gold Trust IAU | 9.1K | $712,584 | 0.10% | no change |
| Goldman Sachs ActiveBeta US LgC GSLC | 4.5K | $654,733 | 0.09% | -270 |
| Fervo Energy Co. Class A Com FRVO | 47.5K | $644,954 | 0.09% | +25.0K |
| American Electric Power Co. Inc. AEP | 4.9K | $575,997 | 0.08% | new |
| SPDR S&P 500 SPY | 750 | $571,973 | 0.08% | no change |
| Space Exploration Techn Corp. Class A Com STK SPCX | 3.7K | $561,048 | 0.08% | +2.2K |
| Impinj Inc. PI | 3.1K | $557,592 | 0.08% | -110 |
| Deere & Co. DE | 814 | $546,642 | 0.07% | -20 |
| Meta Platforms, Inc. META | 718 | $520,768 | 0.07% | -25 |
| Shopify Inc. SHOP | 3.5K | $516,084 | 0.07% | -150 |
| Taiwan Semiconductor Manufacturing Company Limited TSM | 1.1K | $498,616 | 0.07% | -10 |
| Tesla, Inc. TSLA | 1.3K | $469,414 | 0.06% | +20 |
| VG Totl STK Vprs VTI | 1.2K | $435,990 | 0.06% | new |
| Ulta Beauty, Inc. ULTA | 794 | $433,659 | 0.06% | +199 |
| iShares Trust LRGF | 4.9K | $380,609 | 0.05% | no change |
| Vanguard FTSE All-World ex-US ETF VEU | 4.5K | $376,435 | 0.05% | -3.1K |
| Goldman Sachs ETF Trust GSIE | 8.1K | $373,000 | 0.05% | -517 |
| Mastercard Inc. MA | 643 | $354,558 | 0.05% | no change |
| Boeing Co. BA | 1.9K | $352,007 | 0.05% | +625 |
| Financial Select Sector SPDR ETF XLF | 6.4K | $342,294 | 0.05% | -74 |
| iShares Trust IYJ | 2.2K | $341,485 | 0.05% | -22 |
| Select Sector SPDR Trust XLB | 7.0K | $341,178 | 0.05% | -62 |
| Philip Morris International Inc. PM | 1.8K | $336,797 | 0.05% | no change |
| Linde plc LIN | 697 | $330,831 | 0.05% | new |
| Procter & Gamble Co. PG | 2.3K | $329,055 | 0.04% | -40 |
| Northrop Grumman Corp. NOC | 658 | $318,130 | 0.04% | -130 |
| Fair Isaac Corp. FICO | 473 | $280,238 | 0.04% | new |
| Starbucks Corp. SBUX | 2.9K | $275,961 | 0.04% | no change |
| Amphenol Corp. APH | 3.2K | $273,975 | 0.04% | no change |
| Texas Instruments Inc. TXN | 951 | $266,398 | 0.04% | +29 |
| ExxonMobil Holdings Corp. XOM | 1.6K | $264,306 | 0.04% | new |
| Wells Fargo & Company WFC | 3.1K | $250,156 | 0.03% | -70 |
| Invesco QQQ Trust QQQ | 335 | $247,823 | 0.03% | -44 |
| CrowdStrike Holdings, Inc. CRWD | 927 | $245,423 | 0.03% | new |
| Capital Group Dividend Value CGDV | 5.0K | $242,931 | 0.03% | no change |
| Capital Group Core Equity Et CGUS | 5.2K | $231,712 | 0.03% | no change |
| CME Group Inc. CME | 872 | $228,447 | 0.03% | new |
| Home Depot, Inc. HD | 802 | $228,161 | 0.03% | +232 |
| RPM International Inc. RPM | 2.2K | $220,133 | 0.03% | new |
| SPDR Gold Trust GLD | 560 | $213,270 | 0.03% | no change |
| Palantir Technologies Inc. PLTR | 1.1K | $213,237 | 0.03% | new |
| RLI Corp. RLI | 3.8K | $211,284 | 0.03% | new |
| NetApp, Inc. NTAP | 975 | $204,828 | 0.03% | new |
| Coca-Cola Co. KO | 2.4K | $202,640 | 0.03% | new |
| ProShares Trust IGHG | 2.6K | $202,124 | 0.03% | no change |
| Quicklogic Corp. QUIK | 14.0K | $159,040 | 0.02% | no change |
| Nuveen PFD & Income Opportun JPC | 12.8K | $87,405 | 0.01% | no change |
| Vuzix Corp VUZI | 10.0K | $27,900 | 0.00% | no change |
| WiSA Technologies Inc DVLT | 14.5K | $2,259 | 0.00% | no change |
Every US-listed position in the fund's 13F for the quarter ended 30 September 2026, by the value it reported.
Read more
Change is shares against its 13F for the quarter before; the 12 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| Microsoft Corp. MSFT | Puts | 167 | $8.6 million |
| KLA Corp. KLAC | Puts | 200 | $3.9 million |
| Applied Materials Inc. AMAT | Puts | 40 | $2.0 million |
3 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.