Carnegie Investment Counsel

PEPPER PIKE, OH · CIK 1511506 · 13F filing filed 2024-07-22

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

$3.2bn reported value -0.2% vs Q1 2024

466positions

26.0%in top 10

16 new 136 added 253 reduced 45 sold out vs Q1 2024

Holdings, Q2 2024

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	654,966	$137.9m4.30%	4.30%	Reduced -22.8k	-22,817 -3.4%
2	MICROSOFT CORP COM MSFT	MSFT	270,242	$120.8m3.76%	3.76%	Reduced -3.7k	-3,653 -1.3%
3	NVIDIA CORPORATION COM NVDA	NVDA	902,440	$111.5m3.47%	3.47%	Reduced -52.0k	-51,960 -5.4%
4	AMAZON COM INC COM AMZN	AMZN	433,240	$83.7m2.61%	2.61%	Added +4.0k	+4,032 0.9%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	423,727	$77.2m2.41%	2.41%	Reduced -15.0k	-15,030 -3.4%
6	JPMORGAN CHASE & CO COM JPM	JPM	352,165	$71.2m2.22%	2.22%	Reduced -4.8k	-4,773 -1.3%
7	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	165,770	$67.4m2.10%	2.10%	Reduced -8.9k	-8,913 -5.1%
8	PROGRESSIVE CORP COM PGR	PGR	279,156	$58.0m1.81%	1.81%	Reduced -3.0k	-2,955 -1.1%
9	EATON CORP PLC SHS ETN	ETN	177,181	$55.6m1.73%	1.73%	Reduced -9.3k	-9,340 -5.0%
10	SHERWIN WILLIAMS CO COM SHW	SHW	171,044	$51.0m1.59%	1.59%	Added +4.1k	+4,149 2.5%
11	MASTERCARD INCORPORATED CL A MA	MA	115,225	$50.8m1.58%	1.58%	Added +519	+519 0.5%
12	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	86,953	$47.3m1.47%	1.47%	Reduced -2.5k	-2,544 -2.8%
13	ALPHABET INC CAP STK CL C GOOG	GOOG	248,106	$45.5m1.42%	1.42%	Reduced -5.0k	-4,990 -2.0%
14	META PLATFORMS INC CL A META	META	83,036	$41.9m1.30%	1.30%	Reduced -2.1k	-2,099 -2.5%
15	ADOBE INC COM ADBE	ADBE	71,853	$39.9m1.24%	1.24%	Added +5.2k	+5,154 7.7%
16	STRYKER CORPORATION COM SYK	SYK	115,196	$39.2m1.22%	1.22%	Added +14.1k	+14,059 13.9%
17	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	169,081	$38.3m1.19%	1.19%	Reduced -3.1k	-3,095 -1.8%
18	LOWES COS INC COM LOW	LOW	153,009	$33.7m1.05%	1.05%	Added +4.2k	+4,178 2.8%
19	SCHWAB CHARLES CORP COM SCHW	SCHW	453,365	$33.4m1.04%	1.04%	Added +18.1k	+18,135 4.2%
20	QUALCOMM INC COM QCOM	QCOM	162,443	$32.4m1.01%	1.01%	Reduced -332	-332 -0.2%
21	NOVO-NORDISK A S ADR NVO	NVO	214,566	$30.6m0.95%	0.95%	Added +2.3k	+2,262 1.1%
22	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	54,853	$30.3m0.95%	0.95%	Added +3.8k	+3,828 7.5%
23	COSTCO WHSL CORP NEW COM COST	COST	35,638	$30.3m0.94%	0.94%	Added +148	+148 0.4%
24	AMGEN INC COM AMGN	AMGN	95,760	$29.9m0.93%	0.93%	Added +2.0k	+2,029 2.2%
25	PEPSICO INC COM PEP	PEP	176,004	$29.0m0.90%	0.90%	Added +4.1k	+4,083 2.4%
26	BROADCOM INC COM AVGO	AVGO	17,938	$28.8m0.90%	0.90%	Added +829	+829 4.8%
27	NEXTERA ENERGY INC COM NEE	NEE	401,799	$28.5m0.89%	0.89%	Added +13.9k	+13,915 3.6%
28	ANSYS INC COM ANSS	ANSS	86,743	$27.9m0.87%	0.87%	Added +15.4k	+15,384 21.6%
29	ECOLAB INC COM ECL	ECL	116,361	$27.7m0.86%	0.86%	Added +996	+996 0.9%
30	ZOETIS INC CL A ZTS	ZTS	157,577	$27.3m0.85%	0.85%	Reduced -22.3k	-22,316 -12.4%
31	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	89,959	$27.3m0.85%	0.85%	Added +2.1k	+2,092 2.4%
32	APPLIED MATLS INC COM AMAT	AMAT	111,843	$26.4m0.82%	0.82%	Added +28.9k	+28,860 34.8%
33	UNION PAC CORP COM UNP	UNP	114,829	$26.0m0.81%	0.81%	Added +2.5k	+2,458 2.2%
34	NORTHROP GRUMMAN CORP COM NOC	NOC	58,459	$25.5m0.79%	0.79%	Added +9.6k	+9,558 19.6%
35	ROCKWELL AUTOMATION INC COM ROK	ROK	92,269	$25.4m0.79%	0.79%	Reduced -402	-402 -0.4%
36	VISA INC COM CL A V	V	96,375	$25.3m0.79%	0.79%	Reduced -983	-983 -1.0%
37	AMERICAN TOWER CORP NEW COM AMT	AMT	120,089	$23.3m0.73%	0.73%	Reduced -1.5k	-1,525 -1.2%
38	TJX COS INC NEW COM TJX	TJX	205,585	$22.6m0.71%	0.71%	Added +7.3k	+7,325 3.7%
39	BLACKROCK INC COM BLK	BLK	28,704	$22.6m0.70%	0.70%	Added +93	+93 0.3%
40	CHEVRON CORP NEW COM CVX	CVX	143,249	$22.4m0.70%	0.70%	Added +6.1k	+6,131 4.5%
41	ISHARES TR MSCI INTL QUALTY IQLT	IQLT	547,576	$21.4m0.67%	0.67%	Added +18.3k	+18,274 3.5%
42	ABBOTT LABS COM ABT	ABT	196,657	$20.4m0.64%	0.64%	Reduced -5.9k	-5,904 -2.9%
43	KINSALE CAP GROUP INC COM KNSL	KNSL	51,645	$19.9m0.62%	0.62%	Added +12.2k	+12,221 31.0%
44	JOHNSON & JOHNSON COM JNJ	JNJ	134,271	$19.6m0.61%	0.61%	Reduced -26.4k	-26,383 -16.4%
45	CSX CORP COM CSX	CSX	585,472	$19.6m0.61%	0.61%	Added +17.4k	+17,362 3.1%
46	METTLER TOLEDO INTERNATIONAL COM MTD	MTD	13,963	$19.5m0.61%	0.61%	Added +109	+109 0.8%
47	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	504,675	$19.3m0.60%	0.60%	Reduced -14.6k	-14,598 -2.8%
48	MARSH & MCLENNAN COS INC COM MRSH	MRSH	89,709	$18.9m0.59%	0.59%	Added +3.4k	+3,351 3.9%
49	NU HLDGS LTD ORD SHS CL A NU	NU	1,384,330	$17.8m0.56%	0.56%	Reduced -64.6k	-64,580 -4.5%
50	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	97,626	$17.8m0.56%	0.56%	Reduced -11.9k	-11,909 -10.9%
51	OTIS WORLDWIDE CORP COM OTIS	OTIS	177,891	$17.1m0.53%	0.53%	Added +3.3k	+3,287 1.9%
52	SPDR SERIES TRUST PORTFOLIO S&P500 SPYM	SPYM	266,873	$17.1m0.53%	0.53%	Added +3.3k	+3,275 1.2%
53	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	111,386	$16.8m0.52%	0.52%	Reduced -3.3k	-3,344 -2.9%
54	SPDR SERIES TRUST PRTFLO S&P500 GW SPYG	SPYG	206,044	$16.5m0.51%	0.51%	Reduced -4.1k	-4,121 -2.0%
55	HOME DEPOT INC COM HD	HD	46,790	$16.1m0.50%	0.50%	Reduced -1.8k	-1,821 -3.8%
56	WATSCO INC COM WSO	WSO	33,807	$15.7m0.49%	0.49%	Reduced -98	-98 -0.3%
57	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	30,399	$15.2m0.47%	0.47%	Reduced -28	-28 -0.1%
58	REPUBLIC SVCS INC COM RSG	RSG	74,267	$14.4m0.45%	0.45%	Reduced -948	-948 -1.3%
59	WALMART INC COM WMT	WMT	213,022	$14.4m0.45%	0.45%	Reduced -5.7k	-5,669 -2.6%
60	CHURCH & DWIGHT CO INC COM CHD	CHD	138,542	$14.4m0.45%	0.45%	Reduced -4.9k	-4,924 -3.4%
61	SPDR SER TR PORTFOLIO S&P600 SPSM	SPSM	334,800	$13.9m0.43%	0.43%	Added +11.0k	+10,985 3.4%
62	CISCO SYS INC COM CSCO	CSCO	291,604	$13.9m0.43%	0.43%	Reduced -100.1k	-100,060 -25.6%
63	CLOUDFLARE INC CL A COM NET	NET	165,268	$13.7m0.43%	0.43%	Added +10.1k	+10,148 6.5%
64	NIKE INC CL B NKE	NKE	181,448	$13.7m0.43%	0.43%	Reduced -5.8k	-5,759 -3.1%
65	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	43,876	$13.6m0.42%	0.42%	Added +2.7k	+2,676 6.5%
66	GENUINE PARTS CO COM GPC	GPC	96,837	$13.4m0.42%	0.42%	Added +18.0k	+18,046 22.9%
67	DEERE & CO COM DE	DE	35,654	$13.3m0.42%	0.42%	Reduced -10.7k	-10,736 -23.1%
68	LOCKHEED MARTIN CORP COM LMT	LMT	28,507	$13.3m0.42%	0.42%	Reduced -664	-664 -2.3%
69	UNITEDHEALTH GROUP INC COM UNH	UNH	25,849	$13.2m0.41%	0.41%	Reduced -4.9k	-4,899 -15.9%
70	CINTAS CORP COM CTAS	CTAS	18,618	$13.0m0.41%	0.41%	Reduced -500	-500 -2.6%
71	SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP MDY	MDY	24,319	$13.0m0.41%	0.41%	Reduced -767	-767 -3.1%
72	TRADEWEB MKTS INC CL A TW	TW	122,532	$13.0m0.40%	0.40%	Added +7.5k	+7,511 6.5%
73	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	310,390	$12.8m0.40%	0.40%	Reduced -7.4k	-7,408 -2.3%
74	T-MOBILE US INC COM TMUS	TMUS	72,077	$12.7m0.40%	0.40%	Added +3.0k	+3,047 4.4%
75	VANGUARD INDEX FDS MID CAP ETF VO	VO	50,809	$12.3m0.38%	0.38%	Reduced -1.3k	-1,308 -2.5%
76	KINDER MORGAN INC DEL COM KMI	KMI	617,224	$12.3m0.38%	0.38%	Added +27.6k	+27,630 4.7%
77	ISHARES TR IBONDS 25 TRM TS IBONDS 25 TRM TS		523,599	$12.2m0.38%	0.38%	Added +43.5k	+43,521 9.1%
78	STERIS PLC SHS USD STE	STE	54,708	$12.0m0.37%	0.37%	Added +2.9k	+2,880 5.6%
79	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	80,143	$11.7m0.36%	0.36%	Added +1.3k	+1,290 1.6%
80	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	24,255	$11.6m0.36%	0.36%	Reduced -1.2k	-1,228 -4.8%
81	RTX CORPORATION COM RTX	RTX	112,869	$11.3m0.35%	0.35%	Added +3.0k	+2,997 2.7%
82	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	220,886	$11.2m0.35%	0.35%	Reduced -100.9k	-100,939 -31.4%
83	PAYPAL HLDGS INC COM PYPL	PYPL	192,184	$11.2m0.35%	0.35%	Added +4.1k	+4,053 2.1%
84	PROCTER AND GAMBLE CO COM PG	PG	65,295	$10.8m0.34%	0.34%	Reduced -4.1k	-4,088 -5.9%
85	WINGSTOP INC COM WING	WING	25,431	$10.7m0.33%	0.33%	Reduced -2.1k	-2,129 -7.7%
86	BANK AMERICA CORP COM BAC	BAC	269,610	$10.7m0.33%	0.33%	Reduced -1.7k	-1,665 -0.6%
87	PHILIP MORRIS INTL INC COM PM	PM	100,720	$10.2m0.32%	0.32%	Reduced -3.0k	-2,995 -2.9%
88	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	154,341	$10.2m0.32%	0.32%	Added +9.8k	+9,790 6.8%
89	WASTE MGMT INC DEL COM WM	WM	46,907	$10.0m0.31%	0.31%	Reduced -478	-478 -1.0%
90	ISHARES TR S&P 100 ETF OEF	OEF	37,808	$10.0m0.31%	0.31%	Added +1.4k	+1,437 4.0%
91	DISNEY WALT CO COM DIS	DIS	97,656	$9.7m0.30%	0.30%	Reduced -5.4k	-5,441 -5.3%
92	MASCO CORP COM MAS	MAS	144,730	$9.6m0.30%	0.30%	Added +155	+155 0.1%
93	CHUBB LIMITED COM CB	CB	37,380	$9.5m0.30%	0.30%	Added +7.2k	+7,161 23.7%
94	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	290,650	$9.3m0.29%	0.29%	Reduced -2.6k	-2,600 -0.9%
95	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	56,477	$9.3m0.29%	0.29%	Added +106	+106 0.2%
96	MCDONALDS CORP COM MCD	MCD	34,427	$8.8m0.27%	0.27%	Reduced -3.0k	-3,032 -8.1%
97	CASEYS GEN STORES INC COM CASY	CASY	22,733	$8.7m0.27%	0.27%	Added +16.4k	+16,376 257.6%
98	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	32,212	$8.6m0.27%	0.27%	Reduced -5.0k	-5,019 -13.5%
99	SPDR SER TR S&P BIOTECH XBI	XBI	92,448	$8.6m0.27%	0.27%	Added +9.1k	+9,055 10.9%
100	UNITED RENTALS INC COM URI	URI	13,070	$8.5m0.26%	0.26%	Added +890	+890 7.3%

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
IONQ INC IONQ	IONQ	270,207	$2.7m270.2k shares
VANECK ETF TRUST MOAT	MOAT	21,891	$2.0m21.9k shares
ATLASSIAN CORPORATION TEAM	TEAM	9,819	$1.9m9.8k shares
EL PASO ENERGY CAP TR I KMI 4.75 03.31.28	KMI 4.75 03.31.28	37,725	$1.8m37.7k shares
CAPITAL GROUP DIVIDEND VALUE CGDV	CGDV	54,890	$1.8m54.9k shares
BROWN FORMAN CORP BF.B	BF.B	33,128	$1.7m33.1k shares
CAPITAL GROUP INTL FOCUS EQT CGXU	CGXU	57,790	$1.5m57.8k shares
ISHARES TR IWV	IWV	4,045	$1.2m4.0k shares
ISHARES TR IYY	IYY	9,382	$1.2m9.4k shares
ISHARES INC EMXC	EMXC	18,681	$1.1m18.7k shares
PIONEER NAT RES CO PXD	PXD	3,836	$1.0m3.8k shares
VANGUARD INTL EQUITY INDEX F VT	VT	4,833	$534.0k4.8k shares
CEDAR FAIR L P		10,553	$442.2k10.6k shares
LABORATORY CORP AMER HLDGS		1,633	$356.7k1.6k shares
ARCH CAP GROUP LTD ACGL	ACGL	3,800	$351.3k3.8k shares
GLADSTONE COMMERCIAL CORP GOOD	GOOD	22,683	$313.9k22.7k shares
VANGUARD WORLD FD VHT	VHT	1,113	$301.1k1.1k shares
ISHARES TR IWP	IWP	2,513	$286.9k2.5k shares
ISHARES TR IWS	IWS	2,266	$284.0k2.3k shares
WELLS FARGO CO NEW WFC 7.5 PERP L	WFC 7.5 PERP L	226	$275.2k226 shares
CHECK POINT SOFTWARE TECH LT CHKP	CHKP	1,543	$253.1k1.5k shares
ZIMMER BIOMET HOLDINGS INC ZBH	ZBH	1,816	$239.7k1.8k shares
VANGUARD WORLD FD VFH	VFH	2,295	$235.0k2.3k shares
ISHARES TR MUB	MUB	2,170	$233.5k2.2k shares
SMUCKER J M CO SJM	SJM	1,795	$225.9k1.8k shares