Investment Research & Advisory Group, Inc.

ATLANTA, GA · CIK 1802136 · 13F filing filed 2023-07-20

SEC-registered investment adviser since 2009 · corporation

Assets managed$15.4bn
Staff19 · 18 in investment roles
Main clients (by assets)Pension plans 90%, High net worth individuals 4%, State and local governments 2%
Form ADV · 2026-03-11SEC adviser record

$172.8m reported value +10.9% vs Q1 2023

223positions

53.2%in top 10

25 new 42 added 20 reduced 3 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	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	79,915	$32.5m18.84%	18.84%	Reduced -2.5k	-2,499 -3.0%
2	APPLE INC COM AAPL	AAPL	86,171	$16.7m9.67%	9.67%	Unchanged
3	MICROSOFT CORP COM MSFT	MSFT	26,924	$9.2m5.31%	5.31%	Added +436	+436 1.6%
4	NVIDIA CORPORATION COM NVDA	NVDA	13,606	$5.8m3.33%	3.33%	Added +10	+10 0.1%
5	AMAZON COM INC COM AMZN	AMZN	40,880	$5.3m3.08%	3.08%	Added +225	+225 0.6%
6	MASTERCARD INCORPORATED CL A MA	MA	13,271	$5.2m3.02%	3.02%	Reduced -47	-47 -0.3%
7	ALPHABET INC CAP STK CL A GOOGL	GOOGL	42,954	$5.1m2.98%	2.98%	Added +617	+617 1.5%
8	VISA INC COM CL A V	V	19,133	$4.5m2.63%	2.63%	Added +30	+30 0.2%
9	IQVIA HLDGS INC COM IQV	IQV	16,938	$3.8m2.20%	2.20%	Added +42	+42 0.2%
10	JPMORGAN CHASE & CO COM JPM	JPM	25,185	$3.7m2.12%	2.12%	Added +132	+132 0.5%
11	BLACKROCK INC COM BLK	BLK	5,165	$3.6m2.07%	2.07%	Added +9	+9 0.2%
12	META PLATFORMS INC CL A META	META	11,008	$3.2m1.83%	1.83%	Added +100	+100 0.9%
13	SALESFORCE INC COM CRM	CRM	14,320	$3.0m1.75%	1.75%	Added +389	+389 2.8%
14	SCHWAB CHARLES CORP COM SCHW	SCHW	52,051	$3.0m1.71%	1.71%	Added +776	+776 1.5%
15	UNITEDHEALTH GROUP INC COM UNH	UNH	5,987	$2.9m1.67%	1.67%	Reduced -380	-380 -6.0%
16	STARBUCKS CORP COM SBUX	SBUX	26,488	$2.6m1.52%	1.52%	Reduced -108	-108 -0.4%
17	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	7,426	$2.5m1.47%	1.47%	Reduced -39	-39 -0.5%
18	COMCAST CORP NEW CL A CMCSA	CMCSA	60,768	$2.5m1.46%	1.46%	Reduced -212	-212 -0.3%
19	CHUBB LIMITED COM CB	CB	13,068	$2.5m1.46%	1.46%	Added +47	+47 0.4%
20	JOHNSON & JOHNSON COM JNJ	JNJ	15,058	$2.5m1.44%	1.44%	Reduced -29	-29 -0.2%
21	PFIZER INC COM PFE	PFE	66,756	$2.4m1.42%	1.42%	Added +819	+819 1.2%
22	UBER TECHNOLOGIES INC COM UBER	UBER	55,008	$2.4m1.37%	1.37%	Added +401	+401 0.7%
23	UNITED PARCEL SERVICE INC CL B UPS	UPS	13,038	$2.3m1.35%	1.35%	Added +90	+90 0.7%
24	COSTCO WHSL CORP NEW COM COST	COST	4,291	$2.3m1.34%	1.34%	Reduced -104	-104 -2.4%
25	BECTON DICKINSON & CO COM BDX	BDX	8,496	$2.2m1.30%	1.30%	Added +52	+52 0.6%
26	FISERV INC COM FISV	FISV	17,603	$2.2m1.29%	1.29%	Reduced -89	-89 -0.5%
27	PHILIP MORRIS INTL INC COM PM	PM	19,654	$1.9m1.11%	1.11%	Added +175	+175 0.9%
28	GENERAL DYNAMICS CORP COM GD	GD	8,783	$1.9m1.09%	1.09%	Reduced -22	-22 -0.2%
29	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	2,511	$1.8m1.05%	1.05%	Added +190	+190 8.2%
30	ADOBE INC COM ADBE	ADBE	3,695	$1.8m1.05%	1.05%	Added +93	+93 2.6%
31	VANGUARD INDEX FDS SMALL CP ETF VB	VB	8,546	$1.7m0.98%	0.98%	Reduced -311	-311 -3.5%
32	DELTA AIR LINES INC DEL COM NEW DAL	DAL	34,553	$1.6m0.95%	0.95%	Added +575	+575 1.7%
33	CARMAX INC COM KMX	KMX	19,521	$1.6m0.95%	0.95%	Added +409	+409 2.1%
34	DISNEY WALT CO COM DIS	DIS	1	$1.5m0.87%	0.87%	Reduced -16.8k	-16,789 -100.0%
35	SPDR SER TR SPDR S&P 500 ETF SPYX	SPYX	3,376	$1.5m0.87%	0.87%	Reduced -249	-249 -6.9%
36	LABORATORY CORP AMER HLDGS COM NEW COM NEW		6,021	$1.5m0.84%	0.84%	Added +116	+116 2.0%
37	GE AEROSPACE COM NEW GE	GE	12,789	$1.4m0.81%	0.81%	Reduced -93	-93 -0.7%
38	ELI LILLY & CO COM LLY	LLY	2,989	$1.4m0.81%	0.81%	Unchanged
39	PROCTER AND GAMBLE CO COM PG	PG	8,843	$1.3m0.78%	0.78%	Reduced -1.2k	-1,218 -12.1%
40	CHOICE HOTELS INTL INC COM CHH	CHH	9,922	$1.2m0.67%	0.67%	Unchanged
41	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	18,453	$1.0m0.60%	0.60%	Reduced -974	-974 -5.0%
42	ISHARES TR CORE S&P500 ETF IVV	IVV	2,245	$1.0m0.58%	0.58%	Added +340	+340 17.9%
43	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	12,757	$927.3k0.54%	0.54%	Added +380	+380 3.1%
44	HOME DEPOT INC COM HD	HD	2,402	$746.2k0.43%	0.43%	Added +34	+34 1.4%
45	INDEPENDENCE RLTY TR INC COM IRT	IRT	38,098	$694.1k0.40%	0.40%	Unchanged
46	ISHARES TR CORE S&P MCP ETF IJH	IJH	2,512	$656.8k0.38%	0.38%	Added +234	+234 10.3%
47	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	9,255	$503.6k0.29%	0.29%	Unchanged
48	ISHARES TR S&P 500 GRWT ETF IVW	IVW	7,135	$502.9k0.29%	0.29%	Unchanged
49	PALO ALTO NETWORKS INC COM PANW	PANW	1,862	$475.8k0.28%	0.28%	Added +230	+230 14.1%
50	ALPHABET INC CAP STK CL C GOOG	GOOG	3,860	$466.9k0.27%	0.27%	Unchanged
51	TRUIST FINL CORP COM TFC	TFC	15,221	$461.9k0.27%	0.27%	Reduced -147	-147 -1.0%
52	VANGUARD WORLD FD ENERGY ETF VDE	VDE	3,965	$447.6k0.26%	0.26%	Unchanged
53	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	1,118	$413.0k0.24%	0.24%	Unchanged
54	ISHARES TR S&P 500 VAL ETF IVE	IVE	2,545	$410.2k0.24%	0.24%	Unchanged
55	SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP MDY	MDY	847	$405.6k0.23%	0.23%	Unchanged
56	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	4,661	$378.7k0.22%	0.22%	Added +479	+479 11.4%
57	FEDEX CORP COM FDX	FDX	1,171	$290.3k0.17%	0.17%	Unchanged
58	MERCK & CO INC COM MRK	MRK	2,462	$284.1k0.16%	0.16%	Unchanged
59	LOWES COS INC COM LOW	LOW	1,132	$255.5k0.15%	0.15%	Unchanged
60	FORTREA HLDGS INC COMMON STOCK FTRE	FTRE	6,021	$204.8k0.12%	0.12%	New
61	ISHARES TR CORE S&P SCP ETF IJR	IJR	1,997	$199.0k0.12%	0.12%	Added +276	+276 16.0%
62	ZETA GLOBAL HOLDINGS CORP CL A ZETA	ZETA	22,130	$189.0k0.11%	0.11%	Unchanged
63	COCA COLA CO COM KO	KO	3,133	$188.7k0.11%	0.11%	Reduced -244	-244 -7.2%
64	BOEING CO COM BA	BA	885	$186.9k0.11%	0.11%	Unchanged
65	NIKE INC CL B NKE	NKE	1,651	$182.2k0.11%	0.11%	Added +3	+3 0.2%
66	VEEVA SYS INC CL A COM VEEV	VEEV	903	$178.6k0.10%	0.10%	Added +460	+460 103.8%
67	SYNOPSYS INC COM SNPS	SNPS	5,717	$172.9k0.10%	0.10%	Unchanged
68	ABBVIE INC COM ABBV	ABBV	1,193	$160.7k0.09%	0.09%	Unchanged
69	SPDR SER TR S&P DIVID ETF SDY	SDY	1,227	$150.4k0.09%	0.09%	Unchanged
70	ISHARES TR S&P SML 600 GWT IJT	IJT	1,252	$143.9k0.08%	0.08%	Unchanged
71	BANK AMERICA CORP COM BAC	BAC	4,836	$138.7k0.08%	0.08%	Added +175	+175 3.8%
72	AMGEN INC COM AMGN	AMGN	604	$134.1k0.08%	0.08%	Unchanged
73	ISHARES TR ESG AWR MSCI USA ESGU	ESGU	1,354	$132.0k0.08%	0.08%	New
74	ISHARES TR SP SMCP600VL ETF IJS	IJS	1,294	$123.0k0.07%	0.07%	Unchanged
75	MONDELEZ INTL INC CL A MDLZ	MDLZ	1,607	$117.2k0.07%	0.07%	Unchanged
76	ISHARES TR SELECT DIVID ETF DVY	DVY	1,000	$113.3k0.07%	0.07%	Unchanged
77	CHEVRON CORP NEW COM CVX	CVX	703	$110.6k0.06%	0.06%	Unchanged
78	GENERAL MLS INC COM GIS	GIS	1,370	$105.1k0.06%	0.06%	Unchanged
79	ADVANCED MICRO DEVICES INC COM AMD	AMD	890	$101.4k0.06%	0.06%	Unchanged
80	TESLA INC COM TSLA	TSLA	373	$97.6k0.06%	0.06%	New
81	ABBOTT LABS COM ABT	ABT	888	$96.8k0.06%	0.06%	Unchanged
82	MOHAWK INDS INC COM MHK	MHK	875	$90.3k0.05%	0.05%	Unchanged
83	COLGATE PALMOLIVE CO COM CL	CL	1,171	$90.2k0.05%	0.05%	Unchanged
84	ISHARES TR ISHARES BIOTECH IBB	IBB	642	$81.5k0.05%	0.05%	Unchanged
85	REALTY INCOME CORP COM O	O	1,300	$77.7k0.04%	0.04%	Unchanged
86	BROOKFIELD CORP CL A LTD VT SH BN	BN	2,250	$75.7k0.04%	0.04%	Unchanged
87	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	991	$74.9k0.04%	0.04%	Unchanged
88	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	1,170	$74.8k0.04%	0.04%	Unchanged
89	SCHWAB STRATEGIC TR INTL EQTY ETF SCHF	SCHF	2,062	$73.5k0.04%	0.04%	New
90	CISCO SYS INC COM CSCO	CSCO	1,304	$67.5k0.04%	0.04%	Added +1.0k	+1,003 333.2%
91	ENSTAR GROUP LIMITED SHS ESGR	ESGR	273	$66.7k0.04%	0.04%	Reduced -10	-10 -3.5%
92	ISHARES TOTAL US STOCK MARKET ETF CORE S&P TTL STK ETF CORE S&P TTL STK ETF		664	$65.0k0.04%	0.04%	New
93	VANGUARD CHARLOTTE FDS TOTAL INT BD ETF BNDX	BNDX	1,278	$62.5k0.04%	0.04%	Unchanged
94	PNC FINL SVCS GROUP INC COM PNC	PNC	488	$61.5k0.04%	0.04%	Unchanged
95	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	845	$61.4k0.04%	0.04%	New
96	EDWARDS LIFESCIENCES CORP COM EW	EW	600	$56.6k0.03%	0.03%	Unchanged
97	INNOVATOR ETFS TRUST US EQT PWR BUF PAPR	PAPR	1,796	$55.5k0.03%	0.03%	New
98	AIR PRODS & CHEMS INC COM APD	APD	185	$55.4k0.03%	0.03%	Unchanged
99	ALTRIA GROUP INC COM MO	MO	1,197	$54.2k0.03%	0.03%	Unchanged
100	DUKE ENERGY CORP NEW COM NEW DUK	DUK	589	$52.9k0.03%	0.03%	Added +7	+7 1.2%

Sold out since Q1 2023

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NOVARTIS AG NVS	NVS	1,825	$167.9k1.8k shares
FLEX LNG LTD FLNG	FLNG	3	$1013 shares
BALL CORP BALL	BALL	1	$551 shares