Carnegie Investment Counsel

PEPPER PIKE, OH · CIK 1511506 · 13F filing filed 2023-08-04

SEC-registered investment adviser since 2009 · limited liability company

Assets managed$7.5bn
Staff69 · 39 in investment roles
Main clients (by assets)High net worth individuals 70%, Individuals 12%, Companies 9%
Websitecarroll-financial.com
Form ADV · 2026-07-09SEC adviser record

$2.7bn reported value +7.8% vs Q1 2023

495positions

23.1%in top 10

14 new 185 added 232 reduced 24 sold out vs Q1 2023

Holdings, Q2 2023

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	APPLE INC COM AAPL	AAPL	702,721	$136.3m5.04%	5.04%	Reduced -6.4k	-6,352 -0.9%
2	MICROSOFT CORP COM MSFT	MSFT	279,222	$95.1m3.52%	3.52%	Reduced -5.0k	-4,984 -1.8%
3	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	179,896	$61.3m2.27%	2.27%	Added +1.9k	+1,911 1.1%
4	AMAZON COM INC COM AMZN	AMZN	411,770	$53.7m1.99%	1.99%	Added +10.8k	+10,789 2.7%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	436,969	$52.3m1.94%	1.94%	Added +1.6k	+1,601 0.4%
6	JPMORGAN CHASE & CO COM JPM	JPM	349,554	$50.8m1.88%	1.88%	Added +3.7k	+3,681 1.1%
7	MASTERCARD INCORPORATED CL A MA	MA	114,502	$45.0m1.67%	1.67%	Reduced -1.2k	-1,156 -1.0%
8	NVIDIA CORPORATION COM NVDA	NVDA	104,586	$44.2m1.64%	1.64%	Reduced -5.0k	-4,997 -4.6%
9	SHERWIN WILLIAMS CO COM SHW	SHW	161,961	$43.0m1.59%	1.59%	Added +8.2k	+8,241 5.4%
10	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	95,601	$42.4m1.57%	1.57%	Reduced -2.3k	-2,280 -2.3%
11	EATON CORP PLC SHS ETN	ETN	193,752	$39.0m1.44%	1.44%	Added +5.0k	+4,984 2.6%
12	PROGRESSIVE CORP COM PGR	PGR	261,003	$34.5m1.28%	1.28%	Added +7.7k	+7,678 3.0%
13	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	180,044	$31.3m1.16%	1.16%	Reduced -4.5k	-4,532 -2.5%
14	LOWES COS INC COM LOW	LOW	137,821	$31.1m1.15%	1.15%	Added +3.6k	+3,561 2.6%
15	ALPHABET INC CAP STK CL C GOOG	GOOG	255,336	$30.9m1.14%	1.14%	Reduced -545	-545 -0.2%
16	ADOBE INC COM ADBE	ADBE	61,873	$30.3m1.12%	1.12%	Added +4.0k	+3,970 6.9%
17	JOHNSON & JOHNSON COM JNJ	JNJ	179,956	$29.8m1.10%	1.10%	Added +1.0k	+1,013 0.6%
18	STRYKER CORPORATION COM SYK	SYK	97,033	$29.6m1.10%	1.10%	Reduced -982	-982 -1.0%
19	ZOETIS INC CL A ZTS	ZTS	165,993	$28.6m1.06%	1.06%	Added +2.9k	+2,888 1.8%
20	NEXTERA ENERGY INC COM NEE	NEE	382,675	$28.4m1.05%	1.05%	Added +12.5k	+12,495 3.4%
21	META PLATFORMS INC CL A META	META	92,871	$26.7m0.99%	0.99%	Reduced -6.3k	-6,314 -6.4%
22	ROCKWELL AUTOMATION INC COM ROK	ROK	77,311	$25.5m0.94%	0.94%	Reduced -44	-44 -0.1%
23	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	81,403	$25.1m0.93%	0.93%	Added +73	+73 0.1%
24	NORTHROP GRUMMAN CORP COM NOC	NOC	53,888	$24.6m0.91%	0.91%	Added +742	+742 1.4%
25	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	46,279	$24.1m0.89%	0.89%	Added +2.9k	+2,911 6.7%
26	VISA INC COM CL A V	V	101,341	$24.1m0.89%	0.89%	Reduced -1.0k	-1,015 -1.0%
27	PEPSICO INC COM PEP	PEP	129,414	$24.0m0.89%	0.89%	Reduced -291	-291 -0.2%
28	ABBOTT LABS COM ABT	ABT	208,185	$22.7m0.84%	0.84%	Reduced -1.9k	-1,892 -0.9%
29	AMERICAN TOWER CORP NEW COM AMT	AMT	113,243	$22.0m0.81%	0.81%	Added +2.0k	+2,029 1.8%
30	NIKE INC CL B NKE	NKE	198,061	$21.9m0.81%	0.81%	Reduced -314	-314 -0.2%
31	DEERE & CO COM DE	DE	53,889	$21.8m0.81%	0.81%	Added +3.2k	+3,175 6.3%
32	QUALCOMM INC COM QCOM	QCOM	180,191	$21.5m0.79%	0.79%	Reduced -2.2k	-2,186 -1.2%
33	UNION PAC CORP COM UNP	UNP	98,105	$20.1m0.74%	0.74%	Reduced -1.2k	-1,192 -1.2%
34	CISCO SYS INC COM CSCO	CSCO	387,626	$20.1m0.74%	0.74%	Added +31.0k	+31,034 8.7%
35	ANSYS INC COM ANSS	ANSS	60,576	$20.0m0.74%	0.74%	Added +853	+853 1.4%
36	COSTCO WHSL CORP NEW COM COST	COST	36,582	$19.7m0.73%	0.73%	Added +411	+411 1.1%
37	UNITEDHEALTH GROUP INC COM UNH	UNH	40,897	$19.7m0.73%	0.73%	Added +1.8k	+1,804 4.6%
38	ECOLAB INC COM ECL	ECL	103,834	$19.4m0.72%	0.72%	Added +2.2k	+2,179 2.1%
39	BLACKROCK INC COM BLK	BLK	25,898	$17.9m0.66%	0.66%	Reduced -1.8k	-1,769 -6.4%
40	AMGEN INC COM AMGN	AMGN	79,935	$17.7m0.66%	0.66%	Added +1.6k	+1,637 2.1%
41	SCHWAB CHARLES CORP COM SCHW	SCHW	311,212	$17.6m0.65%	0.65%	Added +52.4k	+52,396 20.2%
42	CSX CORP COM CSX	CSX	516,807	$17.6m0.65%	0.65%	Added +7.3k	+7,257 1.4%
43	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	105,640	$17.2m0.63%	0.63%	Reduced -1.9k	-1,863 -1.7%
44	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	268,397	$16.9m0.62%	0.62%	Added +58.6k	+58,624 27.9%
45	METTLER TOLEDO INTERNATIONAL COM MTD	MTD	12,844	$16.8m0.62%	0.62%	Added +91	+91 0.7%
46	CHEVRON CORP NEW COM CVX	CVX	106,219	$16.7m0.62%	0.62%	Added +9.6k	+9,566 9.9%
47	TJX COS INC NEW COM TJX	TJX	196,738	$16.7m0.62%	0.62%	Reduced -1.6k	-1,637 -0.8%
48	CHURCH & DWIGHT CO INC COM CHD	CHD	166,046	$16.6m0.62%	0.62%	Reduced -1.1k	-1,101 -0.7%
49	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	625,361	$16.6m0.61%	0.61%	Reduced -6.8k	-6,825 -1.1%
50	BROADCOM INC COM AVGO	AVGO	17,836	$15.5m0.57%	0.57%	Added +1.5k	+1,537 9.4%
51	OTIS WORLDWIDE CORP COM OTIS	OTIS	169,468	$15.1m0.56%	0.56%	Reduced -2.2k	-2,249 -1.3%
52	HOME DEPOT INC COM HD	HD	47,911	$14.9m0.55%	0.55%	Added +3.2k	+3,211 7.2%
53	NOVO-NORDISK A S ADR NVO	NVO	90,171	$14.6m0.54%	0.54%	Added +1.2k	+1,158 1.3%
54	PRICE T ROWE GROUP INC COM TROW	TROW	129,808	$14.5m0.54%	0.54%	Reduced -10.1k	-10,097 -7.2%
55	HONEYWELL INTL INC COM COM		68,332	$14.2m0.52%	0.52%	Added +6.3k	+6,304 10.2%
56	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	47,874	$14.2m0.52%	0.52%	Added +1.2k	+1,250 2.7%
57	SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP MDY	MDY	28,572	$13.7m0.51%	0.51%	Reduced -80	-80 -0.3%
58	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	33,405	$13.6m0.50%	0.50%	Added +603	+603 1.8%
59	SPDR SERIES TRUST PRTFLO S&P500 GW SPYG	SPYG	216,023	$13.2m0.49%	0.49%	Added +6.7k	+6,741 3.2%
60	REPUBLIC SVCS INC COM RSG	RSG	85,612	$13.1m0.49%	0.49%	Reduced -701	-701 -0.8%
61	MARSH & MCLENNAN COS INC COM MRSH	MRSH	69,201	$13.0m0.48%	0.48%	Added +40.0k	+40,045 137.3%
62	LOCKHEED MARTIN CORP COM LMT	LMT	28,266	$13.0m0.48%	0.48%	Added +337	+337 1.2%
63	ISHARES TR MSCI INTL QUALTY IQLT	IQLT	361,333	$12.9m0.48%	0.48%	Added +16.6k	+16,554 4.8%
64	NU HLDGS LTD ORD SHS CL A NU	NU	1,575,160	$12.4m0.46%	0.46%	Reduced -5.7k	-5,740 -0.4%
65	PROCTER AND GAMBLE CO COM PG	PG	78,815	$12.0m0.44%	0.44%	Added +608	+608 0.8%
66	DISNEY WALT CO COM DIS	DIS	128,677	$11.5m0.43%	0.43%	Reduced -27.2k	-27,184 -17.4%
67	PAYPAL HLDGS INC COM PYPL	PYPL	170,963	$11.4m0.42%	0.42%	Reduced -17.3k	-17,338 -9.2%
68	INVESCO EXCH TRADED FD TR II SOLAR ETF TAN	TAN	158,862	$11.3m0.42%	0.42%	Reduced -226	-226 -0.1%
69	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	334,448	$11.3m0.42%	0.42%	Added +6.8k	+6,801 2.1%
70	STERIS PLC SHS USD STE	STE	49,345	$11.1m0.41%	0.41%	Added +3.1k	+3,077 6.7%
71	INVESCO EXCH TRD SLF IDX FD BULSHS 2024 CB BSCO	BSCO	533,738	$11.0m0.41%	0.41%	Reduced -24.4k	-24,433 -4.4%
72	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	76,926	$10.8m0.40%	0.40%	Added +6.2k	+6,154 8.7%
73	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	81,075	$10.8m0.40%	0.40%	Added +581	+581 0.7%
74	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	28,365	$10.5m0.39%	0.39%	Reduced -703	-703 -2.4%
75	ISHARES TR CORE S&P500 ETF IVV	IVV	23,471	$10.5m0.39%	0.39%	Reduced -2.1k	-2,140 -8.4%
76	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	154,051	$10.0m0.37%	0.37%	Reduced -170	-170 -0.1%
77	VANGUARD INDEX FDS MID CAP ETF VO	VO	45,086	$9.9m0.37%	0.37%	Reduced -518	-518 -1.1%
78	WATSCO INC COM WSO	WSO	25,865	$9.9m0.37%	0.37%	Added +3.7k	+3,661 16.5%
79	MCCORMICK & CO INC COM NON VTG MKC	MKC	112,427	$9.8m0.36%	0.36%	Reduced -542	-542 -0.5%
80	INVESCO EXCH TRD SLF IDX FD BULSHS 2025 CB BSCP	BSCP	480,334	$9.7m0.36%	0.36%	Reduced -35.2k	-35,236 -6.8%
81	WALMART INC COM WMT	WMT	61,258	$9.6m0.36%	0.36%	Reduced -1.9k	-1,903 -3.0%
82	WP CAREY INC COM WPC	WPC	141,288	$9.5m0.35%	0.35%	Added +3.2k	+3,204 2.3%
83	US BANCORP DEL COM NEW USB	USB	281,954	$9.3m0.34%	0.34%	Reduced -88.4k	-88,411 -23.9%
84	KINDER MORGAN INC DEL COM KMI	KMI	530,089	$9.1m0.34%	0.34%	Added +8.0k	+8,030 1.5%
85	VERIZON COMMUNICATIONS INC COM VZ	VZ	245,221	$9.1m0.34%	0.34%	Reduced -9.4k	-9,362 -3.7%
86	PHILIP MORRIS INTL INC COM PM	PM	92,426	$9.0m0.33%	0.33%	Added +13.5k	+13,518 17.1%
87	RTX CORPORATION COM RTX	RTX	91,371	$9.0m0.33%	0.33%	Added +352	+352 0.4%
88	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	798,842	$8.6m0.32%	0.32%	Added +23.2k	+23,166 3.0%
89	BANK AMERICA CORP COM BAC	BAC	299,512	$8.6m0.32%	0.32%	Added +42.2k	+42,224 16.4%
90	T-MOBILE US INC COM TMUS	TMUS	61,610	$8.6m0.32%	0.32%	Added +21.7k	+21,684 54.3%
91	INVESCO EXCH TRD SLF IDX FD BULSHS 2026 CB BSCQ	BSCQ	447,792	$8.5m0.31%	0.31%	Reduced -15.2k	-15,181 -3.3%
92	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	38,490	$8.5m0.31%	0.31%	Added +100	+100 0.3%
93	SPDR SER TR S&P BIOTECH XBI	XBI	101,607	$8.5m0.31%	0.31%	Added +6.1k	+6,075 6.4%
94	CLOUDFLARE INC CL A COM NET	NET	129,290	$8.5m0.31%	0.31%	Added +30.9k	+30,930 31.4%
95	SPDR SER TR PORTFOLIO S&P600 SPSM	SPSM	217,581	$8.5m0.31%	0.31%	New
96	WASTE MGMT INC DEL COM WM	WM	48,433	$8.4m0.31%	0.31%	Reduced -348	-348 -0.7%
97	CINTAS CORP COM CTAS	CTAS	16,049	$8.0m0.30%	0.30%	Reduced -945	-945 -5.6%
98	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	52,653	$7.9m0.29%	0.29%	Reduced -2.0k	-1,994 -3.6%
99	ISHARES TR CORE S&P SCP ETF IJR	IJR	78,280	$7.8m0.29%	0.29%	Added +1.7k	+1,660 2.2%
100	IONQ INC COM IONQ	IONQ	572,674	$7.7m0.29%	0.29%	Added +187.7k	+187,674 48.8%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
SPDR SER TR		98,102	$8.2m98.1k shares
YETI HLDGS INC YETI	YETI	174,898	$7.0m174.9k shares
ALTERYX INC AYX	AYX	85,570	$5.0m85.6k shares
DUTCH BROS INC BROS	BROS	137,260	$4.3m137.3k shares
BLACKLINE INC BL	BL	64,540	$4.3m64.5k shares
BLOCK INC XYZ	XYZ	47,131	$3.2m47.1k shares
ENBRIDGE INC ENB	ENB	51,451	$2.0m51.5k shares
CANADIAN PAC RY LTD		18,284	$1.4m18.3k shares
ISHARES TR MTUM	MTUM	8,601	$1.2m8.6k shares
KRAFT HEINZ CO KHC	KHC	16,327	$631.4k16.3k shares
TAIWAN SEMICONDUCTOR MFG LTD TSM	TSM	5,355	$498.1k5.4k shares
MODERNA INC MRNA	MRNA	1,990	$305.6k2.0k shares
SENECA FOODS CORP NEW SENEA	SENEA	5,495	$287.2k5.5k shares
OKTA INC OKTA	OKTA	3,217	$277.4k3.2k shares
ILLUMINA INC ILMN	ILMN	1,171	$272.3k1.2k shares
BP PLC BP	BP	6,837	$259.4k6.8k shares
INSPERITY INC NSP	NSP	1,900	$230.9k1.9k shares
L3HARRIS TECHNOLOGIES INC LHX	LHX	1,156	$226.8k1.2k shares
J P MORGAN EXCHANGE TRADED F JPST	JPST	4,188	$210.7k4.2k shares
ISHARES TR IBMP	IBMP	8,200	$208.8k8.2k shares
BROOKFIELD CORP BN	BN	6,259	$204.0k6.3k shares
DONALDSON INC DCI	DCI	3,100	$202.6k3.1k shares
ELEVANCE HEALTH INC ELV	ELV	436	$200.3k436 shares
LORDSTOWN MOTORS CORP		10,435	$6.9k10.4k shares