Laffer Tengler Investments' Q2 2025 13F: 43 new positions, 12 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Aug 7, 2025 · 163 reported positions · accession 0001172661-25-002953
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | US BANCORP DEL (USB) | 0.1% | 2.0% | +1.9 pts | +242K sh | +2031% |
| Increased | APPLE INC (AAPL) | 2.1% | 3.1% | +1.0 pts | +39,223 sh | +88% |
| Exited | NXP SEMICONDUCTORS N V (NXPI) | 1.1% | — | −1.1 pts | −27,122 sh | −100% |
| Exited | NRG ENERGY INC (NRG 2.75 06/01/48) | 1.1% | — | −1.1 pts | −2,185 sh | −100% |
| Increased | CISCO SYS INC (CSCO) | 0.1% | 0.9% | +0.9 pts | +69,275 sh | +1214% |
| New | TJX COS INC NEW (TJX) | — | 0.8% | +0.8 pts | +36,325 sh | new |
| New | EATON CORP PLC (ETN) | — | 0.8% | +0.8 pts | +12,481 sh | new |
| Reduced | BROADCOM INC (AVGO) | 3.8% | 4.5% | +0.7 pts | −14,597 sh | −14% |
| Exited | BOOKING HOLDINGS INC (BKNG) | 0.7% | — | −0.7 pts | −1,248 sh | −100% |
| Increased | PALANTIR TECHNOLOGIES INC (PLTR) | 0.2% | 1.0% | +0.7 pts | +26,646 sh | +208% |
| New | ACCENTURE PLC IRELAND (ACN) | — | 0.6% | +0.6 pts | +12,056 sh | new |
| Reduced | EMERSON ELEC CO (EMR) | 1.8% | 1.2% | −0.6 pts | −26,473 sh | −34% |
| Exited | SOUTHERN CO (SO 3.875 12/15/25) | 0.6% | — | −0.6 pts | −2,552 sh | −100% |
| New | SOUTHERN CO (SO 4.5 06/15/27) | — | 0.5% | +0.5 pts | +2,663 sh | new |
| New | CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | — | 0.5% | +0.5 pts | +2,488 sh | new |
| New | PINNACLE WEST CAP CORP (PNW 4.75 06/15/27) | — | 0.5% | +0.5 pts | +2,482 sh | new |
| Increased | LOCKHEED MARTIN CORP (LMT) | 0.1% | 0.6% | +0.5 pts | +5,781 sh | +483% |
| Reduced | STEEL DYNAMICS INC (STLD) | 1.6% | 0.9% | −0.7 pts | −19,955 sh | −33% |
| Increased | QUANTA SVCS INC (PWR) | 0.7% | 1.3% | +0.6 pts | +6,507 sh | +51% |
| Exited | EQUINIX INC (EQIX) | 0.4% | — | −0.4 pts | −2,379 sh | −100% |
| Reduced | MCDONALDS CORP (MCD) | 1.8% | 1.1% | −0.8 pts | −7,496 sh | −27% |
| Reduced | WALMART INC (WMT) | 3.1% | 2.5% | −0.6 pts | −20,771 sh | −13% |
| New | MERITAGE HOMES CORP (MTH 1.75 05/15/28) | — | 0.3% | +0.3 pts | +2,000 sh | new |
| Increased | KKR & CO INC (KKRPRD) | 0.3% | 0.5% | +0.3 pts | +30,400 sh | +124% |
| Increased | AMAZON COM INC (AMZN) | 1.8% | 2.0% | +0.2 pts | +7,425 sh | +17% |
| New | GLOBAL PMTS INC (GPN 1.5 03/01/31) | — | 0.3% | +0.3 pts | +1,644 sh | new |
| New | JAZZ PHARMACEUTICALS PLC (JAZZ) | — | 0.3% | +0.3 pts | +13,450 sh | new |
| Reduced | GOLDMAN SACHS GROUP INC (GS) | 3.2% | 3.3% | 0.0 pts | −2,013 sh | −7% |
| New | PARKER-HANNIFIN CORP (PH) | — | 0.2% | +0.2 pts | +2,000 sh | new |
| Reduced | RTX CORPORATION (RTX) | 2.2% | 1.8% | −0.4 pts | −9,409 sh | −12% |
| New | VANGUARD WHITEHALL FDS (VYM) | — | 0.2% | +0.2 pts | +10,102 sh | new |
| Reduced | CARRIER GLOBAL CORPORATION (CARR) | 1.7% | 1.5% | −0.3 pts | −16,786 sh | −13% |
| Reduced | BROOKFIELD ASSET MANAGMT LTD (BAM) | 1.6% | 1.3% | −0.3 pts | −21,857 sh | −14% |
| Reduced | JOHNSON & JOHNSON (JNJ) | 2.0% | 1.4% | −0.7 pts | −7,626 sh | −13% |
| Reduced | JPMORGAN CHASE & CO. (JPM) | 2.9% | 2.7% | −0.2 pts | −3,848 sh | −7% |
| Exited | PALO ALTO NETWORKS INC (PANW 0.375 06/01/25) | 0.2% | — | −0.2 pts | −269 sh | −100% |
| New | SCHWAB STRATEGIC TR (SCHF) | — | 0.2% | +0.2 pts | +49,539 sh | new |
| Increased | COSTCO WHSL CORP NEW (COST) | 1.0% | 1.0% | +0.1 pts | +1,092 sh | +23% |
| Reduced | AMERICAN EXPRESS CO (AXP) | 3.1% | 2.9% | −0.2 pts | −3,224 sh | −6% |
| Increased | WASTE MGMT INC DEL (WM) | 0.1% | 0.2% | +0.2 pts | +4,442 sh | +425% |
| New | INVESCO QQQ TR (QQQ) | — | 0.2% | +0.2 pts | +1,804 sh | new |
| Reduced | EOG RES INC (EOG) | 1.5% | 1.0% | −0.5 pts | −8,110 sh | −14% |
| Increased | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 0.5% | 0.6% | +0.1 pts | +947 sh | +37% |
| New | SHERWIN WILLIAMS CO (SHW) | — | 0.2% | +0.2 pts | +2,754 sh | new |
| Increased | NETFLIX INC (NFLX) | 0.2% | 0.4% | +0.2 pts | +694 sh | +74% |
| Reduced | L3HARRIS TECHNOLOGIES INC (LHX) | 1.3% | 1.1% | −0.2 pts | −3,608 sh | −13% |
| Reduced | LAM RESEARCH CORP (LRCX) | 1.7% | 1.7% | 0.0 pts | −9,002 sh | −8% |
| Increased | NVIDIA CORPORATION (NVDA) | 0.9% | 1.3% | +0.4 pts | +5,294 sh | +13% |
| Increased | MOTOROLA SOLUTIONS INC (MSI) | 0.0% | 0.2% | +0.1 pts | +1,850 sh | +370% |
| Increased | UBER TECHNOLOGIES INC (UBER) | 1.3% | 1.5% | +0.2 pts | +8,088 sh | +10% |
The 50 largest of 168 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 29.6% of the equity book
Changes in the top 10 this quarter: AAPL entered · ORCL entered · USB entered · HD left · CVX left · RTX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | BROADCOM INC (AVGO) | 3.8% | 4.5% | |
| 2 | MICROSOFT CORP (MSFT) | 3.8% | 4.2% | |
| 3 | GOLDMAN SACHS GROUP INC (GS) | 3.2% | 3.3% | |
| 4 | APPLE INC (AAPL) | 2.1% | 3.1% | Entered the top 10 |
| 5 | AMERICAN EXPRESS CO (AXP) | 3.1% | 2.9% | |
| 6 | JPMORGAN CHASE & CO. (JPM) | 2.9% | 2.7% | |
| 7 | WALMART INC (WMT) | 3.1% | 2.5% | |
| 8 | ORACLE CORP (ORCL) | 1.9% | 2.4% | Entered the top 10 |
| 9 | ABBVIE INC (ABBV) | 2.9% | 2.1% | |
| 10 | US BANCORP DEL (USB) | 0.1% | 2.0% | Entered the top 10 |
| — | HOME DEPOT INC (HD) | 2.5% | 2.0% | Left the top 10 |
| — | CHEVRON CORP NEW (CVX) | 2.3% | 1.6% | Left the top 10 |
| — | RTX CORPORATION (RTX) | 2.2% | 1.8% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).