Investment Research & Advisory Group, Inc.

ATLANTA, GA · CIK 1802136 · 13F filing filed 2025-07-17

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

$268.4m reported value +12.1% vs Q1 2025

246positions

53.9%in top 10

27 new 77 added 43 reduced 31 sold out vs Q1 2025

Holdings, Q2 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	110,107	$62.5m23.30%	23.30%	Added +16.9k	+16,906 18.1%
2	APPLE INC COM AAPL	AAPL	75,382	$15.5m5.76%	5.76%	Reduced -5.5k	-5,525 -6.8%
3	NVIDIA CORPORATION COM NVDA	NVDA	68,700	$10.9m4.04%	4.04%	Reduced -595	-595 -0.9%
4	MICROSOFT CORP COM MSFT	MSFT	20,945	$10.4m3.88%	3.88%	Reduced -3.5k	-3,459 -14.2%
5	AMAZON COM INC COM AMZN	AMZN	40,658	$8.9m3.32%	3.32%	Reduced -235	-235 -0.6%
6	MASTERCARD INCORPORATED CL A MA	MA	13,497	$7.6m2.83%	2.83%	Added +64	+64 0.5%
7	ALPHABET INC CAP STK CL A GOOGL	GOOGL	42,738	$7.5m2.81%	2.81%	Added +132	+132 0.3%
8	JPMORGAN CHASE & CO COM JPM	JPM	25,608	$7.4m2.77%	2.77%	Added +147	+147 0.6%
9	META PLATFORMS INC CL A META	META	9,674	$7.1m2.66%	2.66%	Reduced -406	-406 -4.0%
10	VISA INC COM CL A V	V	19,209	$6.8m2.54%	2.54%	Reduced -455	-455 -2.3%
11	SCHWAB CHARLES CORP COM SCHW	SCHW	66,078	$6.0m2.25%	2.25%	Added +896	+896 1.4%
12	ELI LILLY & CO COM LLY	LLY	7,108	$5.5m2.06%	2.06%	Added +411	+411 6.1%
13	BLACKROCK INC COM BLK	BLK	5,254	$5.5m2.05%	2.05%	Reduced -117	-117 -2.2%
14	UBER TECHNOLOGIES INC COM UBER	UBER	58,604	$5.5m2.04%	2.04%	Added +966	+966 1.7%
15	NETFLIX INC COM NFLX	NFLX	3,851	$5.2m1.92%	1.92%	Reduced -8	-8 -0.2%
16	COSTCO WHSL CORP NEW COM COST	COST	4,658	$4.6m1.72%	1.72%	Added +68	+68 1.5%
17	BOOKING HOLDINGS INC COM BKNG	BKNG	738	$4.3m1.59%	1.59%	Reduced -2	-2 -0.3%
18	SALESFORCE INC COM CRM	CRM	15,260	$4.2m1.55%	1.55%	Added +188	+188 1.2%
19	GE AEROSPACE COM NEW GE	GE	15,981	$4.1m1.53%	1.53%	Added +811	+811 5.3%
20	VEEVA SYS INC CL A COM VEEV	VEEV	14,163	$4.1m1.52%	1.52%	Added +58	+58 0.4%
21	CHUBB LIMITED COM CB	CB	13,714	$4.0m1.48%	1.48%	Reduced -396	-396 -2.8%
22	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	7,626	$3.7m1.38%	1.38%	Added +500	+500 7.0%
23	PHILIP MORRIS INTL INC COM PM	PM	20,050	$3.7m1.36%	1.36%	Reduced -366	-366 -1.8%
24	FISERV INC COM FISV	FISV	19,582	$3.4m1.26%	1.26%	Reduced -478	-478 -2.4%
25	JOHNSON & JOHNSON COM JNJ	JNJ	20,866	$3.2m1.19%	1.19%	Added +3.4k	+3,372 19.3%
26	GENERAL DYNAMICS CORP COM GD	GD	10,621	$3.1m1.15%	1.15%	Added +336	+336 3.3%
27	STARBUCKS CORP COM SBUX	SBUX	31,259	$2.9m1.07%	1.07%	Reduced -315	-315 -1.0%
28	VANGUARD INDEX FDS SMALL CP ETF VB	VB	12,017	$2.8m1.06%	1.06%	Reduced -77	-77 -0.6%
29	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	3,517	$2.8m1.05%	1.05%	Reduced -1.3k	-1,274 -26.6%
30	IQVIA HLDGS INC COM IQV	IQV	17,202	$2.7m1.01%	1.01%	Reduced -775	-775 -4.3%
31	LOCKHEED MARTIN CORP COM LMT	LMT	5,781	$2.7m1.00%	1.00%	Added +311	+311 5.7%
32	BOEING CO COM BA	BA	12,103	$2.5m0.94%	0.94%	Added +11.2k	+11,218 1267.6%
33	OTIS WORLDWIDE CORP COM OTIS	OTIS	20,918	$2.1m0.77%	0.77%	Added +1.0k	+1,048 5.3%
34	PROCTER AND GAMBLE CO COM PG	PG	11,918	$1.9m0.71%	0.71%	Added +480	+480 4.2%
35	SPDR SER TR SPDR S&P 500 ETF SPYX	SPYX	2,920	$1.8m0.67%	0.67%	Added +75	+75 2.6%
36	ARCHER DANIELS MIDLAND CO COM ADM	ADM	34,154	$1.8m0.67%	0.67%	Added +354	+354 1.1%
37	VANGUARD SCOTTSDALE FDS VNG RUS2000IDX VTWO	VTWO	20,292	$1.8m0.66%	0.66%	Added +17.1k	+17,143 544.4%
38	CARMAX INC COM KMX	KMX	26,126	$1.8m0.65%	0.65%	Reduced -3.3k	-3,290 -11.2%
39	ADOBE INC COM ADBE	ADBE	4,134	$1.6m0.60%	0.60%	Reduced -1.4k	-1,431 -25.7%
40	GE VERNOVA INC COM GEV	GEV	2,453	$1.3m0.48%	0.48%	Added +33	+33 1.4%
41	ISHARES TR CORE MSCI EAFE IEFA	IEFA	15,524	$1.3m0.48%	0.48%	Added +12.0k	+12,020 343.0%
42	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	16,936	$1.2m0.46%	0.46%	Added +917	+917 5.7%
43	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	2,763	$1.1m0.42%	0.42%	Reduced -897	-897 -24.5%
44	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	14,159	$978.3k0.36%	0.36%	Reduced -307	-307 -2.1%
45	DANAHER CORPORATION COM DHR	DHR	4,716	$931.6k0.35%	0.35%	Reduced -1.2k	-1,169 -19.9%
46	ISHARES TR CORE S&P MCP ETF IJH	IJH	14,472	$897.6k0.33%	0.33%	Added +25	+25 0.2%
47	HOME DEPOT INC COM HD	HD	2,390	$876.4k0.33%	0.33%	Added +3	+3 0.1%
48	ISHARES TR CORE S&P500 ETF IVV	IVV	1,305	$810.3k0.30%	0.30%	Added +4	+4 0.3%
49	ISHARES TR S&P 500 GRWT ETF IVW	IVW	7,143	$786.4k0.29%	0.29%	Added +8	+8 0.1%
50	ISHARES INC CORE MSCI EMKT IEMG	IEMG	11,553	$693.5k0.26%	0.26%	Added +9.6k	+9,556 478.5%
51	ALPHABET INC CAP STK CL C GOOG	GOOG	3,883	$688.7k0.26%	0.26%	Added +5	+5 0.1%
52	INDEPENDENCE RLTY TR INC COM IRT	IRT	36,098	$638.6k0.24%	0.24%	Unchanged
53	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	9,284	$624.1k0.23%	0.23%	Reduced -72	-72 -0.8%
54	CHOICE HOTELS INTL INC COM CHH	CHH	4,214	$534.7k0.20%	0.20%	Unchanged
55	MERCK & CO INC COM MRK	MRK	6,513	$515.6k0.19%	0.19%	Added +3.7k	+3,715 132.8%
56	ISHARES TR S&P 500 VAL ETF IVE	IVE	2,555	$499.5k0.19%	0.19%	Added +10	+10 0.4%
57	PALO ALTO NETWORKS INC COM PANW	PANW	2,405	$492.2k0.18%	0.18%	Reduced -1.5k	-1,464 -37.8%
58	VANGUARD WORLD FD ENERGY ETF VDE	VDE	3,995	$476.0k0.18%	0.18%	Added +30	+30 0.8%
59	VANGUARD INDEX FDS SM CP VAL ETF VBR	VBR	2,083	$406.2k0.15%	0.15%	New
60	SPDR SERIES TRUST PORTFLI HIGH YLD SPHY	SPHY	16,718	$397.9k0.15%	0.15%	Added +11.0k	+10,999 192.3%
61	BROADCOM INC COM AVGO	AVGO	1,284	$354.1k0.13%	0.13%	Reduced -23	-23 -1.8%
62	VANGUARD WORLD FD MEGA CAP VAL ETF MGV	MGV	2,603	$341.5k0.13%	0.13%	Unchanged
63	SYNOPSYS INC COM SNPS	SNPS	5,717	$295.9k0.11%	0.11%	Unchanged
64	COCA COLA CO COM KO	KO	4,068	$287.8k0.11%	0.11%	Added +793	+793 24.2%
65	FEDEX CORP COM FDX	FDX	1,171	$266.2k0.10%	0.10%	Unchanged
66	LOWES COS INC COM LOW	LOW	1,132	$251.2k0.09%	0.09%	Unchanged
67	ISHARES TOTAL US STOCK MARKET ETF CORE S&P TTL STK ETF CORE S&P TTL STK ETF		1,743	$235.4k0.09%	0.09%	Added +5	+5 0.3%
68	BANK AMERICA CORP COM BAC	BAC	4,790	$226.7k0.08%	0.08%	Added +14	+14 0.3%
69	INVESCO EXCH TRADED FD TR II VAR RATE PFD VRP	VRP	9,028	$220.7k0.08%	0.08%	Added +40	+40 0.5%
70	AMERICAN CENTY ETF TR US SML CP VALU AVUV	AVUV	2,333	$212.6k0.08%	0.08%	Unchanged
71	ISHARES TR CORE S&P SCP ETF IJR	IJR	1,777	$194.3k0.07%	0.07%	Added +1	+1 0.1%
72	MCDONALDS CORP COM MCD	MCD	599	$175.3k0.07%	0.07%	Added +455	+455 316.0%
73	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	342	$174.2k0.06%	0.06%	Added +7	+7 2.1%
74	SPDR SER TR S&P DIVID ETF SDY	SDY	1,237	$167.9k0.06%	0.06%	Reduced -25	-25 -2.0%
75	ABBVIE INC COM ABBV	ABBV	879	$163.2k0.06%	0.06%	Reduced -434	-434 -33.0%
76	GOLDMAN SACHS GROUP INC COM GS	GS	214	$152.1k0.06%	0.06%	Unchanged
77	BROOKFIELD CORP CL A LTD VT SH BN	BN	2,250	$139.2k0.05%	0.05%	Unchanged
78	ISHARES TR ESG AWR MSCI USA ESGU	ESGU	1,015	$137.3k0.05%	0.05%	Added +2	+2 0.2%
79	WALMART INC COM WMT	WMT	1,391	$136.1k0.05%	0.05%	Added +420	+420 43.2%
80	AMGEN INC COM AMGN	AMGN	481	$134.4k0.05%	0.05%	Reduced -208	-208 -30.2%
81	ALTRIA GROUP INC COM MO	MO	2,172	$127.3k0.05%	0.05%	Reduced -1.2k	-1,197 -35.5%
82	VANGUARD CHARLOTTE FDS TOTAL INT BD ETF BNDX	BNDX	2,251	$111.5k0.04%	0.04%	Added +108	+108 5.0%
83	AMERICAN TOWER CORP NEW COM AMT	AMT	500	$110.5k0.04%	0.04%	Reduced -488	-488 -49.4%
84	ARISTA NETWORKS INC COM COM		1,038	$106.2k0.04%	0.04%	Unchanged
85	WELLS FARGO CO NEW COM WFC	WFC	1,225	$98.1k0.04%	0.04%	Unchanged
86	AT&T INC COM T	T	3,348	$96.9k0.04%	0.04%	Added +2.7k	+2,748 458.0%
87	DISNEY WALT CO COM DIS	DIS	763	$94.6k0.04%	0.04%	Added +374	+374 96.1%
88	CITIGROUP INC COM NEW C	C	1,108	$94.3k0.04%	0.04%	Unchanged
89	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	168	$92.7k0.03%	0.03%	Reduced -1.0k	-1,016 -85.8%
90	ENSTAR GROUP LIMITED SHS ESGR	ESGR	273	$91.8k0.03%	0.03%	Unchanged
91	CONSTELLATION ENERGY CORP COM CEG	CEG	280	$90.4k0.03%	0.03%	New
92	AMERICAN CENTY ETF TR QUALITY PREFER QUALITY PREFER		2,515	$88.9k0.03%	0.03%	Unchanged
93	VANECK ETF TRUST SEMICONDUCTR ETF SMH	SMH	304	$84.9k0.03%	0.03%	New
94	TESLA INC COM TSLA	TSLA	262	$83.2k0.03%	0.03%	Added +237	+237 948.0%
95	RTX CORPORATION COM RTX	RTX	539	$78.7k0.03%	0.03%	Added +88	+88 19.5%
96	NOVO-NORDISK A S ADR NVO	NVO	1,115	$77.0k0.03%	0.03%	Reduced -249	-249 -18.3%
97	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	1,650	$76.4k0.03%	0.03%	Unchanged
98	DUKE ENERGY CORP NEW COM NEW DUK	DUK	632	$74.7k0.03%	0.03%	Added +5	+5 0.8%
99	TRUIST FINL CORP COM TFC	TFC	1,643	$70.6k0.03%	0.03%	Added +216	+216 15.1%
100	ORACLE CORP COM ORCL	ORCL	323	$70.6k0.03%	0.03%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
SPDR S&P MIDCAP 400 ETF TR MDY	MDY	503	$268.3k503 shares
ISHARES TR IJT	IJT	1,252	$155.9k1.3k shares
ISHARES TR IJS	IJS	1,294	$126.1k1.3k shares
INVESCO EXCH TRD SLF IDX FD BSCP	BSCP	5,836	$120.7k5.8k shares
INVESCO EXCH TRD SLF IDX FD BSCQ	BSCQ	5,441	$106.0k5.4k shares
PNC FINL SVCS GROUP INC PNC	PNC	488	$85.8k488 shares
ISHARES TR IBB	IBB	642	$82.1k642 shares
PACER FDS TR COWZ	COWZ	961	$52.6k961 shares
PACER FDS TR CALF	CALF	1,310	$49.1k1.3k shares
WORKDAY INC WDAY	WDAY	209	$48.8k209 shares
VANGUARD WORLD FD VGT	VGT	85	$46.1k85 shares
NIKE INC NKE	NKE	655	$41.6k655 shares
CME GROUP INC CME	CME	32	$8.5k32 shares
ISHARES TR CNYA	CNYA	258	$7.2k258 shares
MOTOROLA SOLUTIONS INC MSI	MSI	16	$7.0k16 shares
ANALOG DEVICES INC ADI	ADI	28	$5.6k28 shares
MARATHON PETE CORP MPC	MPC	38	$5.5k38 shares
DARDEN RESTAURANTS INC DRI	DRI	24	$5.0k24 shares
BEST BUY INC BBY	BBY	65	$4.8k65 shares
EATON CORP PLC ETN	ETN	17	$4.6k17 shares
UNION PAC CORP UNP	UNP	16	$3.8k16 shares
FIDELITY NATL INFORMATION SV FIS	FIS	50	$3.7k50 shares
JOHNSON CTLS INTL PLC JCI	JCI	46	$3.7k46 shares
HARLEY DAVIDSON INC HOG	HOG	136	$3.4k136 shares
DRAFTKINGS INC NEW DKNG	DKNG	88	$2.9k88 shares