DAVIDSON INVESTMENT ADVISORS

Registered adviser

CIK

1140771

Location

GREAT FALLS, MT

Portfolio Value

Mid $2,363,318,047

Diversification

Diversified

Filing Date

Global Rank

#1,422 / 8,827 ▼ 69 · as of Jun 2026

Top Industry

Semiconductors 13.7%

Period ended 37 days ago

Filed Oct 20, 2026 · 17d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 110552

Roster of Nov 1, 2026

Regulatory AUM

$5,200,170,370

Main clients

Individuals and high net worth (69% of AUM)

Registered funds advised

1 series (0 index, 0 ETFs)

$139,206,808 net assets· N-CEN Jun 30, 2026

LEI

254900F0044LVORWGY15

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Jan 2026 to Nov 2026	$5,200,170,370	Individuals and high net worth (69%)
Dec 2025	$5,033,311,528	Individuals and high net worth (69%)
Jan 2025 to Sep 2025	$4,812,943,447	Individuals and high net worth (69%)
May 2024 to Dec 2024	$4,497,592,543	Individuals and high net worth (68%)
Jan 2024 to Apr 2024	$4,039,159,853	Individuals and high net worth (68%)
May 2023 to Dec 2023	$3,983,537,292	Individuals and high net worth (68%)

6 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 41.7%, 33.6 effective positions, active share 64.2% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

22.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 18.9 quarters (12+), a floor since 43.3% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 64.2%; sector active share 7.4% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

122 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

10.3%

−1.1 pts

Top 5

29.4%

+0.9 pts

Top 10

43.7%

+2.0 pts

HHI

299

Diversified+2

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Technology	28.7%	$679,202,589	17
Unclassified	14.4%	$340,083,129	27
Healthcare	10.6%	$251,036,064	17
Communication Services	9.5%	$224,059,978	6
Financial Services	9.0%	$212,175,714	15
Consumer Cyclical	8.5%	$200,366,538	7
Industrials	7.7%	$180,982,105	12
Real Estate	2.9%	$68,727,910	4
Energy	2.7%	$64,608,059	6
Consumer Defensive	2.4%	$55,933,656	5
Utilities	1.9%	$44,655,555	3
Basic Materials	1.8%	$41,486,750	3

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SARO	StandardAero, Inc.	+885,764	1,617,255	$34,528,394
SRE	Sempra	+145,818	560,651	$43,708,351
HONA	Honeywell Aerospace Inc.	+109,173	162,554	$25,190,993
ZTS	Zoetis Inc.	+58,832	170,700	$11,919,981
BRBR	Bellring Brands, Inc.	+24,131	634,990	$4,883,073
VFMO	VANGUARD U.S. MOMENTUM FACTOR ETF	+17,847	174,188	$39,552,869
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	+16,534	428,276	$20,283,151
EUSA	iShares Trust	+14,459	265,991	$0
OTIS	Otis Worldwide Corp	+7,557	270,169	$17,377,270
LIN	Linde PLC	+5,569	30,391	$14,425,088
META	Meta Platforms, Inc.	+4,154	93,267	$67,635,363
DT	Dynatrace, Inc.	+2,283	419,723	$24,234,806
CRM	Salesforce, Inc.	+2,210	82,168	$18,863,307
EXE	EXPAND ENERGY Corp	+2,107	77,728	$6,536,147
TRMB	Trimble Inc.	+1,010	332,627	$18,996,327
VTHR	VANGUARD RUSSELL 3000 INDEX FUND	+960	4,021	$1,349,045
INTU	Intuit Inc.	+705	38,560	$10,631,377
ITOT	iShares Core S&P Total U.S. Stock Market ETF	+495	49,953	$8,306,184
SPY	Spdr S&P 500 ETF Trust	+235	584	$445,375
JNJ	Johnson & Johnson	+131	7,108	$1,881,771
IUSB	iShares Core Universal USD Bond ETF	+128	12,365	$545,172
ABBV	AbbVie Inc.	+86	3,463	$905,886
IJR	iShares Core S&P Small-Cap ETF	+68	2,705	$367,988
BRK-B	Berkshire Hathaway Inc	+62	516	$256,942
CMF	iShares California Muni Bond ETF	+45	25,734	$1,392,724
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
FIBK	First Interstate Bancsystem Inc	−464,848	14,030	$501,432
EXC	Exelon Corp	−358,020	8,468	$342,107
RTX	RTX Corp	−152,628	11,270	$2,092,275
MDT	Medtronic plc	−144,178	204,506	$17,646,822
LOW	Lowes Companies Inc	−66,106	2,503	$461,277
FANG	Diamondback Energy, Inc.	−53,290	2,278	$418,719
HON	Honeywell International Inc	−52,733	1,031	$217,479
AGNC	AGNC Investment Corp.	−48,540	3,322,527	$30,135,319
CVS	CVS HEALTH Corp	−39,974	204,568	$17,529,431
SCHW	Schwab Charles Corp	−35,138	199,761	$19,524,640
IXUS	iShares Core MSCI Total International Stock ETF	−25,841	2,096,413	$199,138,270
ITM	VanEck Intermediate Muni ETF	−25,196	385,676	$16,969,744
PM	Philip Morris International Inc.	−24,945	90,008	$17,175,326
GBCI	Glacier Bancorp, Inc.	−24,068	258,948	$11,186,553
STZ	Constellation Brands, Inc.	−19,358	96,226	$10,879,311
C	Citigroup Inc	−17,232	283,385	$36,692,689
CMCSA	Comcast Corp	−14,144	532,389	$11,584,784
EOG	Eog Resources Inc	−13,981	145,191	$20,001,512
MSFT	Microsoft Corp	−13,188	229,572	$117,747,478
AMZN	Amazon Com Inc	−7,383	440,391	$109,723,417
FUL	Fuller H B Co	−7,222	192,168	$9,506,550
GIL	Gildan Activewear Inc.	−6,944	408,307	$17,406,127
PFE	Pfizer Inc	−6,776	563,569	$16,072,987
NVDA	Nvidia Corp	−5,865	383,124	$87,497,859
WAFD	Wafd Inc	−5,441	277,398	$8,302,522
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
DHR	Danaher Corp	83,159	$18,423,876
COF	Capital One Financial Corp	71,256	$13,757,395
BURL	Burlington Stores, Inc.	41,699	$11,141,555
VUG	VANGUARD GROWTH INDEX FUND	5,288	$476,501
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
IFNNY	Infineon Technologies AG	114,123	$10,722,997
FDX	Fedex Corp	2,719	$851,400
GLD	Spdr Gold Trust	870	$320,490
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	4,000	$311,640
NEE	Nextera Energy Inc	2,579	$226,358
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

122 tracked positions · $2,363,318,047 total · filing declares 122 positions · $2,394,822,337 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 122 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
IXUS	iShares Core MSCI Total International Stock ETF	Reduced	2,096,413	-25,841	$199,138,270	−1.7%	8.43%
MSFT	Microsoft Corp Technology	Reduced	229,572	-13,188	$117,747,478	+30.0%	4.98%
AAPL	Apple Inc. Technology	Reduced	336,600	-5,040	$112,094,532	+13.4%	4.74%
GOOG	Alphabet Inc. Communication Services	Reduced	326,976	-5,318	$111,413,802	−5.1%	4.71%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	440,391	-7,383	$109,723,417	+2.8%	4.64%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	197,382	-2,721	$90,043,694	−5.8%	3.81%
NVDA	Nvidia Corp Technology	Reduced	383,124	-5,865	$87,497,859	+12.4%	3.70%
META	Meta Platforms, Inc. Communication Services	Added	93,267	+4,154	$67,635,363	+34.7%	2.86%
ETN	Eaton Corp plc Industrials	Reduced	112,643	-423	$48,403,823	+0.5%	2.05%
H	Hyatt Hotels Corp Consumer Cyclical	Reduced	279,859	-4,250	$44,374,443	−19.4%	1.88%
AVGO	Broadcom Inc. Technology	Reduced	125,483	-3,096	$44,068,374	−9.3%	1.86%
SRE	Sempra Utilities	Added	560,651	+145,818	$43,708,351	+13.6%	1.85%
LH	Labcorp Holdings Inc. Healthcare	Reduced	130,815	-2,083	$40,305,409	+8.3%	1.71%
VFMO	VANGUARD U.S. MOMENTUM FACTOR ETF	Added	174,188	+17,847	$39,552,869	+1.4%	1.67%
ANET	Arista Networks, Inc. Technology	Reduced	185,274	-3,202	$37,719,933	+17.8%	1.60%
C	Citigroup Inc Financial Services	Reduced	283,385	-17,232	$36,692,689	−12.8%	1.55%
V	Visa Inc. Financial Services	Reduced	100,581	-1,548	$36,141,770	+3.1%	1.53%
SARO	StandardAero, Inc. Industrials	Added	1,617,255	+885,764	$34,528,394	+57.8%	1.46%
ADI	Analog Devices Inc Technology	Reduced	83,170	-207	$32,994,370	−0.4%	1.40%
CSCO	Cisco Systems, Inc. Technology	Reduced	292,912	-3,534	$31,526,118	−9.5%	1.33%
PANW	Palo Alto Networks Inc Technology	Reduced	75,959	-3,020	$30,179,270	+12.1%	1.28%
AGNC	AGNC Investment Corp. Real Estate	Reduced	3,322,527	-48,540	$30,135,319	−18.0%	1.28%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	38,232	-205	$25,808,511	+33.9%	1.09%
CI	Cigna Group Healthcare	Reduced	93,655	-1,693	$25,458,238	−3.1%	1.08%
CVX	Chevron Corp Energy	Reduced	124,480	-1,340	$25,420,060	+21.9%	1.08%
HONA	Honeywell Aerospace Inc. Industrials	Added	162,554	+109,173	$25,190,993	+113.5%	1.07%
VRTX	Vertex Pharmaceuticals Inc Healthcare	Reduced	47,760	-950	$24,969,405	+3.2%	1.06%
DT	Dynatrace, Inc. Technology	Added	419,723	+2,283	$24,234,806	+32.2%	1.03%
PGR	Progressive Corp Financial Services	Reduced	110,973	-1,900	$23,005,812	−6.7%	0.97%
GS	Goldman Sachs Group Inc Financial Services	Reduced	24,251	-402	$21,834,630	−12.4%	0.92%
WMT	Walmart Inc. Consumer Defensive	Reduced	210,046	-4,032	$21,827,980	−10.0%	0.92%
QCOM	Qualcomm Inc Technology	Reduced	118,527	-792	$21,813,709	−1.1%	0.92%
CPT	Camden Property Trust Real Estate	Reduced	214,298	-4,646	$20,729,045	−17.3%	0.88%
BAC	Bank Of America Corp Financial Services	Reduced	379,507	-3,739	$20,656,566	−5.4%	0.87%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	Added	428,276	+16,534	$20,283,151	−2.6%	0.86%
EOG	Eog Resources Inc Energy	Reduced	145,191	-13,981	$20,001,512	−3.1%	0.85%
SCHW	Schwab Charles Corp Financial Services	Reduced	199,761	-35,138	$19,524,640	−9.9%	0.83%
TRMB	Trimble Inc. Technology	Added	332,627	+1,010	$18,996,327	+11.9%	0.80%
BA	Boeing Co Industrials	Reduced	101,719	-564	$18,924,819	−14.5%	0.80%
CRM	Salesforce, Inc. Technology	Added	82,168	+2,210	$18,863,307	+50.6%	0.80%
DHR	Danaher Corp Healthcare	NEW	83,159	NEW	$18,423,876	NEW	0.78%
ICE	Intercontinental Exchange, Inc. Financial Services	Reduced	118,152	-690	$17,962,648	+22.8%	0.76%
MDT	Medtronic plc Healthcare	Reduced	204,506	-144,178	$17,646,822	−35.3%	0.75%
TRNO	Terreno Realty Corp Real Estate	Reduced	273,245	-1,841	$17,637,964	−1.0%	0.75%
CTVA	Corteva, Inc. Basic Materials	Reduced	226,080	-3,956	$17,555,112	−9.9%	0.74%
CVS	CVS HEALTH Corp Healthcare	Reduced	204,568	-39,974	$17,529,431	−30.7%	0.74%
GIL	Gildan Activewear Inc. Consumer Cyclical	Reduced	408,307	-6,944	$17,406,127	−18.8%	0.74%
OTIS	Otis Worldwide Corp Industrials	Added	270,169	+7,557	$17,377,270	−7.6%	0.74%
AZN	Astrazeneca PLC Healthcare	Reduced	106,918	-1,758	$17,264,049	−16.2%	0.73%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	90,008	-24,945	$17,175,326	−17.4%	0.73%

Showing the top 50 of 122 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.