MEANS INVESTMENT CO., INC.

BANGOR, ME · CIK 701516 · 13F filing filed 2025-04-21

SEC-registered investment adviser since 2015 · corporation

Assets managed$1.6bn
Staff24 · 15 in investment roles
Main clients (by assets)High net worth individuals 68%, Individuals 20%, Pension plans 7%
Private funds1 · $8.2m gross assets
Form ADV · 2026-09-14SEC adviser record

$941.7m reported value -2.0% vs Q4 2024

190positions

57.7%in top 10

4 new 42 added 133 reduced 18 sold out vs Q4 2024

Options: 1 call positions ($6.1k notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q1 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	294,500	$151.3m16.07%	16.07%	Added +154.7k	+154,659 110.6%
2	APPLE INC COM AAPL	AAPL	321,481	$71.4m7.58%	7.58%	Reduced -44.6k	-44,563 -12.2%
3	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	1,135,655	$68.9m7.32%	7.32%	Added +373.8k	+373,832 49.1%
4	INVESCO EXCHANGE TRADED FD T S&P 500 TOP 50 XLG	XLG	1,267,671	$58.3m6.20%	6.20%	Added +1.2m	+1,163,956 1122.3%
5	MICROSOFT CORP COM MSFT	MSFT	100,224	$37.6m4.00%	4.00%	Reduced -5.4k	-5,421 -5.1%
6	AMAZON COM INC COM AMZN	AMZN	196,061	$37.3m3.96%	3.96%	Reduced -42.1k	-42,146 -17.7%
7	VANGUARD WORLD FD MEGA GRWTH IND MGK	MGK	110,147	$34.0m3.61%	3.61%	Reduced -152.2k	-152,216 -58.0%
8	AMERICAN CENTY ETF TR US SML CP VALU AVUV	AVUV	347,601	$30.3m3.22%	3.22%	Added +207.8k	+207,756 148.6%
9	NVIDIA CORPORATION COM NVDA	NVDA	269,908	$29.3m3.11%	3.11%	Added +25.6k	+25,617 10.5%
10	SELECT SECTOR SPDR TR RL EST SEL SEC XLRE	XLRE	586,531	$24.5m2.61%	2.61%	Added +138.8k	+138,833 31.0%
11	ISHARES TR MRGSTR MD CP ETF IMCB	IMCB	302,927	$22.4m2.38%	2.38%	Added +145.4k	+145,367 92.3%
12	VANGUARD WORLD FD MEGA CAP VAL ETF MGV	MGV	172,656	$22.2m2.36%	2.36%	Reduced -333.8k	-333,814 -65.9%
13	J P MORGAN EXCHANGE TRADED F ACTIVE BOND ETF JBND	JBND	358,030	$19.2m2.03%	2.03%	Added +10.7k	+10,684 3.1%
14	META PLATFORMS INC CL A META	META	31,928	$18.4m1.95%	1.95%	Reduced -10.3k	-10,255 -24.3%
15	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	107,181	$15.6m1.66%	1.66%	Added +59.6k	+59,563 125.1%
16	JPMORGAN CHASE & CO COM JPM	JPM	63,306	$15.5m1.65%	1.65%	Reduced -17.9k	-17,914 -22.1%
17	ALPHABET INC CAP STK CL C GOOG	GOOG	94,823	$14.8m1.57%	1.57%	Reduced -24.7k	-24,657 -20.6%
18	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	19,796	$10.5m1.12%	1.12%	Reduced -8.5k	-8,478 -30.0%
19	BERKLEY W R CORP COM WRB	WRB	126,461	$9.0m0.96%	0.96%	Unchanged
20	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	170,756	$8.5m0.90%	0.90%	Added +150.9k	+150,891 759.6%
21	SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP MDY	MDY	14,676	$7.8m0.83%	0.83%	Added +208	+208 1.4%
22	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	84,567	$7.1m0.76%	0.76%	Reduced -11.4k	-11,375 -11.9%
23	CHEVRON CORP NEW COM CVX	CVX	41,885	$7.0m0.74%	0.74%	Reduced -12.9k	-12,880 -23.5%
24	ISHARES TR U.S. MED DVC ETF IHI	IHI	107,768	$6.5m0.69%	0.69%	Reduced -43.6k	-43,617 -28.8%
25	VISA INC COM CL A V	V	17,476	$6.1m0.65%	0.65%	Reduced -7.0k	-6,964 -28.5%
26	TESLA INC COM TSLA	TSLA	23,089	$6.0m0.64%	0.64%	Added +6.3k	+6,323 37.7%
27	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	45,920	$5.9m0.63%	0.63%	Reduced -17.7k	-17,697 -27.8%
28	SALESFORCE INC COM CRM	CRM	21,437	$5.8m0.61%	0.61%	Reduced -20.3k	-20,318 -48.7%
29	ABBVIE INC COM ABBV	ABBV	26,832	$5.6m0.60%	0.60%	Reduced -847	-847 -3.1%
30	BANK AMERICA CORP COM BAC	BAC	125,738	$5.2m0.56%	0.56%	Reduced -17.4k	-17,385 -12.2%
31	PHILIP MORRIS INTL INC COM PM	PM	32,145	$5.1m0.54%	0.54%	Reduced -612	-612 -1.9%
32	ORACLE CORP COM ORCL	ORCL	34,002	$4.8m0.50%	0.50%	Reduced -1.2k	-1,213 -3.4%
33	LAM RESEARCH CORP COM NEW LRCX	LRCX	63,445	$4.6m0.49%	0.49%	Reduced -69.3k	-69,256 -52.2%
34	WALMART INC COM WMT	WMT	51,866	$4.6m0.48%	0.48%	Reduced -17.5k	-17,496 -25.2%
35	SPDR SER TR S&P BIOTECH XBI	XBI	52,666	$4.3m0.45%	0.45%	Reduced -54.1k	-54,107 -50.7%
36	PROCTER AND GAMBLE CO COM PG	PG	23,745	$4.0m0.43%	0.43%	Reduced -1.1k	-1,112 -4.5%
37	ABBOTT LABS COM ABT	ABT	30,162	$4.0m0.42%	0.42%	Reduced -2.3k	-2,264 -7.0%
38	VANECK ETF TRUST SEMICONDUCTR ETF SMH	SMH	18,866	$4.0m0.42%	0.42%	Reduced -533	-533 -2.8%
39	ELI LILLY & CO COM LLY	LLY	4,827	$4.0m0.42%	0.42%	Added +1.6k	+1,606 49.9%
40	JOHNSON & JOHNSON COM JNJ	JNJ	23,956	$4.0m0.42%	0.42%	Reduced -2.5k	-2,486 -9.4%
41	EXXON MOBIL CORP COM XOM	XOM	31,859	$3.8m0.40%	0.40%	Added +11.0k	+10,983 52.6%
42	SCHWAB CHARLES CORP COM SCHW	SCHW	46,958	$3.7m0.39%	0.39%	Reduced -60.8k	-60,801 -56.4%
43	UNITEDHEALTH GROUP INC COM UNH	UNH	6,316	$3.3m0.35%	0.35%	Added +1.5k	+1,454 29.9%
44	UBER TECHNOLOGIES INC COM UBER	UBER	44,113	$3.2m0.34%	0.34%	Reduced -53.8k	-53,768 -54.9%
45	J P MORGAN EXCHANGE TRADED F EQUITY PREMIUM JEPI	JEPI	56,043	$3.2m0.34%	0.34%	Reduced -13.9k	-13,901 -19.9%
46	ALPHABET INC CAP STK CL A GOOGL	GOOGL	20,672	$3.2m0.34%	0.34%	Added +1.3k	+1,333 6.9%
47	MCDONALDS CORP COM MCD	MCD	9,741	$3.0m0.32%	0.32%	Reduced -2.1k	-2,068 -17.5%
48	BROADCOM INC COM AVGO	AVGO	17,361	$2.9m0.31%	0.31%	Added +10.4k	+10,351 147.7%
49	PIMCO DYNAMIC INCOME FD SHS PDI	PDI	143,219	$2.8m0.30%	0.30%	Reduced -72.6k	-72,637 -33.6%
50	GOLDMAN SACHS GROUP INC COM GS	GS	5,063	$2.8m0.29%	0.29%	Reduced -2.7k	-2,729 -35.0%
51	TJX COS INC NEW COM TJX	TJX	21,852	$2.7m0.28%	0.28%	Reduced -2.3k	-2,281 -9.4%
52	MERCK & CO INC COM MRK	MRK	29,375	$2.6m0.28%	0.28%	Reduced -1.3k	-1,270 -4.1%
53	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	17,673	$2.3m0.25%	0.25%	Reduced -3.9k	-3,903 -18.1%
54	BLACKSTONE INC COM BX	BX	16,517	$2.3m0.25%	0.25%	Reduced -4.3k	-4,315 -20.7%
55	ISHARES TR CORE S&P SCP ETF IJR	IJR	20,328	$2.1m0.23%	0.23%	Reduced -21.7k	-21,739 -51.7%
56	RTX CORPORATION COM RTX	RTX	14,725	$2.0m0.21%	0.21%	Reduced -256	-256 -1.7%
57	STARBUCKS CORP COM SBUX	SBUX	19,817	$1.9m0.21%	0.21%	Reduced -4.0k	-4,019 -16.9%
58	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	7,785	$1.9m0.21%	0.21%	Reduced -444	-444 -5.4%
59	MASTERCARD INCORPORATED CL A MA	MA	3,456	$1.9m0.20%	0.20%	Added +1.6k	+1,622 88.4%
60	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	3,311	$1.9m0.20%	0.20%	Reduced -871	-871 -20.8%
61	CAMDEN NATL CORP COM CAC	CAC	44,818	$1.8m0.19%	0.19%	Reduced -733	-733 -1.6%
62	PEPSICO INC COM PEP	PEP	12,040	$1.8m0.19%	0.19%	Added +1.1k	+1,129 10.3%
63	HOME DEPOT INC COM HD	HD	4,648	$1.7m0.18%	0.18%	Reduced -585	-585 -11.2%
64	ALTRIA GROUP INC COM MO	MO	27,153	$1.6m0.17%	0.17%	Reduced -2.3k	-2,348 -8.0%
65	SERVICENOW INC COM NOW	NOW	1,988	$1.6m0.17%	0.17%	Reduced -554	-554 -21.8%
66	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	25,305	$1.5m0.16%	0.16%	Reduced -4.5k	-4,540 -15.2%
67	MONDELEZ INTL INC CL A MDLZ	MDLZ	22,485	$1.5m0.16%	0.16%	Reduced -7.1k	-7,068 -23.9%
68	DISNEY WALT CO COM DIS	DIS	15,126	$1.5m0.16%	0.16%	Reduced -2.8k	-2,847 -15.8%
69	NEXTERA ENERGY INC COM NEE	NEE	20,269	$1.4m0.15%	0.15%	Reduced -723	-723 -3.4%
70	M & T BK CORP COM MTB	MTB	7,800	$1.4m0.15%	0.15%	Added +3.7k	+3,672 89.0%
71	ISHARES INC MSCI EMRG CHN EMXC	EMXC	24,770	$1.4m0.14%	0.14%	Reduced -57.9k	-57,874 -70.0%
72	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	14,203	$1.4m0.14%	0.14%	Added +28	+28 0.2%
73	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	3,760	$1.3m0.14%	0.14%	Reduced -365	-365 -8.8%
74	CISCO SYS INC COM CSCO	CSCO	21,349	$1.3m0.14%	0.14%	Reduced -4.0k	-3,970 -15.7%
75	DEERE & CO COM DE	DE	2,788	$1.3m0.14%	0.14%	Reduced -364	-364 -11.6%
76	ISHARES TR CORE S&P500 ETF IVV	IVV	2,237	$1.3m0.13%	0.13%	Reduced -90	-90 -3.9%
77	COCA COLA CO COM KO	KO	17,384	$1.2m0.13%	0.13%	Reduced -1.5k	-1,500 -7.9%
78	NETFLIX INC COM NFLX	NFLX	1,332	$1.2m0.13%	0.13%	Reduced -287	-287 -17.7%
79	NORTHROP GRUMMAN CORP COM NOC	NOC	2,339	$1.2m0.13%	0.13%	Reduced -2.0k	-2,042 -46.6%
80	ISHARES TR ISHARES BIOTECH IBB	IBB	9,323	$1.2m0.13%	0.13%	Reduced -997	-997 -9.7%
81	BLACKROCK INC COM BLK	BLK	1,257	$1.2m0.13%	0.13%	Reduced -888	-888 -41.4%
82	NUCOR CORP COM NUE	NUE	9,444	$1.1m0.12%	0.12%	Added +1	+1 0.0%
83	HIMS & HERS HEALTH INC COM CL A HIMS	HIMS	37,829	$1.1m0.12%	0.12%	Reduced -12.2k	-12,211 -24.4%
84	NOVO-NORDISK A S ADR NVO	NVO	16,016	$1.1m0.12%	0.12%	Reduced -34.1k	-34,124 -68.1%
85	ADOBE INC COM ADBE	ADBE	2,651	$1.0m0.11%	0.11%	Unchanged
86	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	8,602	$997.5k0.11%	0.11%	Reduced -6.1k	-6,111 -41.5%
87	PALO ALTO NETWORKS INC COM PANW	PANW	5,810	$991.5k0.11%	0.11%	Reduced -249	-249 -4.1%
88	PFIZER INC COM PFE	PFE	37,066	$939.2k0.10%	0.10%	Reduced -27.9k	-27,907 -43.0%
89	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	1,976	$926.4k0.10%	0.10%	Reduced -367	-367 -15.7%
90	SPDR SER TR S&P HOMEBUILD XHB	XHB	9,523	$922.8k0.10%	0.10%	Reduced -2.7k	-2,671 -21.9%
91	MICROSTRATEGY INC CL A NEW MSTR	MSTR	3,178	$916.2k0.10%	0.10%	Added +19	+19 0.6%
92	SOUTHERN CO COM SO	SO	9,852	$905.9k0.10%	0.10%	Reduced -4.1k	-4,139 -29.6%
93	IDEXX LABS INC COM IDXX	IDXX	2,121	$890.9k0.09%	0.09%	Reduced -1.2k	-1,213 -36.4%
94	QUALCOMM INC COM QCOM	QCOM	5,662	$869.7k0.09%	0.09%	Reduced -1.5k	-1,479 -20.7%
95	EATON CORP PLC SHS ETN	ETN	3,134	$851.8k0.09%	0.09%	Reduced -118	-118 -3.6%
96	VERIZON COMMUNICATIONS INC COM VZ	VZ	18,209	$825.9k0.09%	0.09%	Reduced -812	-812 -4.3%
97	PRUDENTIAL FINL INC COM PRU	PRU	7,166	$800.3k0.08%	0.08%	Reduced -4.8k	-4,769 -40.0%
98	CARRIER GLOBAL CORPORATION COM CARR	CARR	12,617	$799.9k0.08%	0.08%	Reduced -292	-292 -2.3%
99	BERKSHIRE HATHAWAY INC DEL CL A BRK.A	BRK.A	1	$798.4k0.08%	0.08%	Unchanged
100	NOVARTIS AG SPONSORED ADR NVS	NVS	7,066	$787.7k0.08%	0.08%	Reduced -240	-240 -3.3%

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
EXCHANGE TRADED CONCEPTS TRU ROBO	ROBO	7,159	$402.8k7.2k shares
STAG INDL INC STAG	STAG	10,008	$338.5k10.0k shares
SELECT SECTOR SPDR TR XLC	XLC	3,482	$337.1k3.5k shares
PROGRESSIVE CORP PGR	PGR	1,200	$287.6k1.2k shares
ISHARES TR IJS	IJS	2,610	$283.4k2.6k shares
BOEING CO BA	BA	1,587	$280.8k1.6k shares
VANGUARD INDEX FDS VBK	VBK	996	$278.9k996 shares
J P MORGAN EXCHANGE TRADED F JPST	JPST	5,489	$276.5k5.5k shares
MGM RESORTS INTERNATIONAL MGM	MGM	7,699	$266.8k7.7k shares
FIRST TR EXCHANGE TRADED FD SKYY	SKYY	2,004	$238.7k2.0k shares
VANGUARD CHARLOTTE FDS BNDX	BNDX	4,653	$228.2k4.7k shares
ISHARES TR EFG	EFG	2,303	$223.0k2.3k shares
FIRST TR EXCHANGE TRADED FD CIBR	CIBR	3,279	$208.1k3.3k shares
MEDTRONIC PLC MDT	MDT	2,595	$207.3k2.6k shares
AMERIPRISE FINL INC AMP	AMP	389	$207.0k389 shares
THE TRADE DESK INC TTD	TTD	1,736	$204.1k1.7k shares
COINBASE GLOBAL INC COIN	COIN	810	$201.2k810 shares
KAYNE ANDERSON ENERGY INFRST KYN	KYN	10,000	$127.1k10.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
GRAB HOLDINGS LIMITED GRAB · Call	GRAB	Call	10,000	$6.1k10.0k shares	Reduced