Willis Investment Counsel

Registered adviser

CIK

1310929

Location

GAINESVILLE, GA

Portfolio Value

Mid $1,947,685,583

Diversification

Diversified

Filing Date

Global Rank

#1,544 / 8,819 ▼ 2 · as of Jun 2026

Top Industry

Drug Manufacturers - General 10.1%

Period ended 29 days ago

Filed Oct 20, 2026 · 9d

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, Oct 1, 2026

Form ADV adviser

CRD 111042

Roster of Oct 1, 2026

Regulatory AUM

$4,225,943,233

Main clients

Diversified

Private funds

3 funds · Other private funds

Focus by fund count, roster of Oct 1, 2026

$205,158,114 gross assets

Private funds on Schedule D 7.B.(1)

As filed Oct 23, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$214,467,764 gross assets in 4 funds Other private funds $214,467,764 (4)

Form ADV history

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

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$4,225,943,233	Diversified
Apr 2025 to Mar 2026	$3,954,398,131	Diversified
Apr 2024 to Mar 2025	$3,451,539,792	Diversified
May 2023 to Mar 2024	$3,381,042,293	Corporations (55%)
Apr 2023	$3,381,042,293	Corporations (55%)
Apr 2022 to Mar 2023	$3,610,051,787	Corporations (51%)

4 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 28.2%, 58.8 effective positions, active share 76.9% against the Dow Jones Industrial Average as of 2026-07-31; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

9.1% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 21.5 quarters (12+), a floor since 61.6% of the book was already held when coverage starts

Closest benchmark: the Dow Jones Industrial Average as of 2026-07-31, active share 76.9%; sector active share 22.7% 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

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

Top Position

4.0%

−0.9 pts

Top 5

16.2%

−1.3 pts

Top 10

27.8%

−0.3 pts

HHI

165

Diversified−6

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Technology	30.7%	$597,597,093	27
Healthcare	19.4%	$377,801,613	18
Industrials	15.0%	$293,093,418	20
Financial Services	8.4%	$164,191,247	10
Consumer Cyclical	7.5%	$146,796,051	13
Energy	7.1%	$137,328,494	7
Consumer Defensive	4.3%	$82,857,813	6
Communication Services	4.0%	$78,580,332	5
Utilities	2.1%	$41,004,108	3
Basic Materials	0.9%	$17,344,077	2
Unclassified	0.3%	$5,866,918	13
Real Estate	0.3%	$5,224,419	1

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
INTU	Intuit Inc.	+28,313	44,481	$12,263,856
LQDT	Liquidity Services Inc	+18,936	212,377	$9,096,106
FTNT	Fortinet, Inc.	+18,300	249,169	$44,541,450
ZTS	Zoetis Inc.	+17,063	188,809	$13,184,532
PAYX	Paychex Inc	+16,426	484,114	$47,685,229
BMI	Badger Meter Inc	+14,084	32,467	$4,010,973
ADBE	Adobe Inc.	+11,116	114,918	$27,573,424
FTDR	Frontdoor, Inc.	+10,183	130,082	$9,511,595
MDT	Medtronic plc	+9,320	423,859	$36,574,793
ZBRA	Zebra Technologies Corp	+8,366	25,541	$9,534,710
XOM	ExxonMobil Holdings Corp	+8,090	254,964	$41,495,391
SHEL	Shell plc	+8,081	300,089	$28,523,459
DCI	DONALDSON Co INC	+7,615	89,360	$7,777,894
UPS	United Parcel Service Inc	+6,810	115,904	$10,830,069
QLYS	Qualys, Inc.	+6,689	63,845	$11,951,784
KEYS	Keysight Technologies, Inc.	+6,461	101,523	$36,958,432
NVDA	Nvidia Corp	+5,990	89,633	$20,470,384
LOGI	Logitech International S.A.	+5,559	77,597	$7,836,521
GNRC	Generac Holdings Inc.	+5,507	119,502	$24,730,938
EVTC	EVERTEC, Inc.	+4,905	155,480	$4,190,186
FDS	Factset Research Systems Inc	+4,795	55,816	$15,067,529
AOS	Smith A O Corp	+4,763	80,989	$4,565,349
LH	Labcorp Holdings Inc.	+4,722	80,041	$24,661,432
JBTM	JBT MAREL Corp	+4,650	32,051	$3,384,265
AXP	American Express Co	+4,389	72,065	$21,914,966
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BHP	BHP Group Ltd	−243,300	87,939	$7,460,744
PFE	Pfizer Inc	−231,860	1,586,648	$45,251,200
T	At&T Inc.	−220,000	794,010	$19,373,844
CSCO	Cisco Systems, Inc.	−153,539	730,663	$78,641,258
CLX	Clorox Co	−143,800	85,500	$6,926,355
MRK	Merck & Co., Inc.	−74,700	238,067	$34,593,515
VLO	Valero Energy Corp	−55,300	49,000	$18,992,890
JNJ	Johnson & Johnson	−48,727	260,759	$69,033,337
PG	PROCTER & GAMBLE Co	−45,000	164,370	$23,879,673
PEP	Pepsico Inc	−41,153	198,361	$25,136,305
DGX	Quest Diagnostics Inc	−34,300	117,200	$27,315,804
EMR	Emerson Electric Co	−33,800	105,400	$16,347,540
TXN	Texas Instruments Inc	−32,670	204,331	$57,231,069
TSCO	Tractor Supply Co	−31,350	728,357	$22,790,290
HSY	Hershey Co	−27,248	163,492	$25,767,974
DRI	Darden Restaurants Inc	−25,000	97,400	$18,822,550
CAT	Caterpillar Inc	−24,156	30,414	$24,659,367
MCD	Mcdonalds Corp	−23,200	61,285	$14,153,157
AAPL	Apple Inc.	−22,999	88,286	$29,401,003
CVX	Chevron Corp	−22,500	77,377	$15,801,157
COP	Conocophillips	−18,830	255,371	$31,959,680
JPM	Jpmorgan Chase & Co	−18,800	58,998	$19,518,308
AFL	Aflac Inc	−18,747	305,797	$34,181,988
DE	Deere & Co	−16,900	17,300	$11,617,815
CB	Chubb Ltd	−16,439	146,436	$47,628,309
No positions match the current search.

New Positions

Positions the filer opened this quarter

7 positions

Ticker	Company	Shares	Value
IBP	Installed Building Products, Inc.	9,245	$1,773,930
UCB	United Community Banks Inc	11,954	$398,665
FCBM	First Carolina Financial Services, Inc.	26,500	$334,695
VUSB	VANGUARD ULTRA-SHORT BOND ETF	6,040	$299,282
MCK	Mckesson Corp	263	$224,552
IVV	iShares Core S&P 500 ETF	267	$204,481
MUR	Murphy Oil Corp	5,405	$200,093
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
QXO	QXO, Inc.	24,980	$431,654
XPOF	Xponential Fitness, Inc.	30,000	$207,600
WMT	Walmart Inc.	1,826	$206,812
SMMT	Summit Therapeutics Inc.	10,000	$145,700
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

125 tracked positions · $1,947,685,583 total · filing declares 128 positions · $1,969,469,148 · 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 125 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CSCO	Cisco Systems, Inc. Technology	Reduced	730,663	-153,539	$78,641,258	−24.3%	4.04%
JNJ	Johnson & Johnson Healthcare	Reduced	260,759	-48,727	$69,033,337	−12.2%	3.54%
MSFT	Microsoft Corp Technology	Added	124,219	+3,072	$63,711,925	+41.0%	3.27%
TXN	Texas Instruments Inc Technology	Reduced	204,331	-32,670	$57,231,069	−19.0%	2.94%
PAYX	Paychex Inc Technology	Added	484,114	+16,426	$47,685,229	+3.7%	2.45%
CB	Chubb Ltd Financial Services	Reduced	146,436	-16,439	$47,628,309	−14.2%	2.45%
ACN	Accenture plc Technology	Reduced	257,325	-8,648	$47,185,685	+42.6%	2.42%
PFE	Pfizer Inc Healthcare	Reduced	1,586,648	-231,860	$45,251,200	+3.3%	2.32%
FTNT	Fortinet, Inc. Technology	Added	249,169	+18,300	$44,541,450	+25.6%	2.29%
XOM	ExxonMobil Holdings Corp Energy	Added	254,964	+8,090	$41,495,391	+22.9%	2.13%
LMT	Lockheed Martin Corp Industrials	Reduced	80,941	-15,334	$41,219,204	−16.0%	2.12%
KEYS	Keysight Technologies, Inc. Technology	Added	101,523	+6,461	$36,958,432	+11.1%	1.90%
MDT	Medtronic plc Healthcare	Added	423,859	+9,320	$36,574,793	+12.8%	1.88%
ADP	Automatic Data Processing Inc Technology	Reduced	136,756	-11,300	$35,291,253	+6.4%	1.81%
MRK	Merck & Co., Inc. Healthcare	Reduced	238,067	-74,700	$34,593,515	−13.9%	1.78%
AFL	Aflac Inc Financial Services	Reduced	305,797	-18,747	$34,181,988	−10.2%	1.76%
ABT	Abbott Laboratories Healthcare	Held	345,349	0	$34,130,841	+8.9%	1.75%
HD	Home Depot, Inc. Consumer Cyclical	Added	115,428	+2,560	$32,838,111	−17.5%	1.69%
COP	Conocophillips Energy	Reduced	255,371	-18,830	$31,959,680	+12.1%	1.64%
AAPL	Apple Inc. Technology	Reduced	88,286	-22,999	$29,401,003	−8.7%	1.51%
ETN	Eaton Corp plc Industrials	Reduced	67,873	-9,100	$29,165,706	−11.1%	1.50%
SHEL	Shell plc Energy	Added	300,089	+8,081	$28,523,459	+26.0%	1.46%
ADBE	Adobe Inc. Technology	Added	114,918	+11,116	$27,573,424	+29.6%	1.42%
DGX	Quest Diagnostics Inc Healthcare	Reduced	117,200	-34,300	$27,315,804	−14.9%	1.40%
GWW	W.W. Grainger, Inc. Industrials	Added	21,827	+1,725	$27,191,203	−0.6%	1.40%
HSY	Hershey Co Consumer Defensive	Reduced	163,492	-27,248	$25,767,974	−23.0%	1.32%
VZ	Verizon Communications Inc Communication Services	Held	557,990	0	$25,595,001	+8.3%	1.31%
PEP	Pepsico Inc Consumer Defensive	Reduced	198,361	-41,153	$25,136,305	−22.5%	1.29%
SNY	Sanofi Healthcare	Held	602,300	0	$24,832,829	−3.4%	1.27%
MMM	3M Co Industrials	Added	151,052	+4,212	$24,795,185	+4.3%	1.27%
GNRC	Generac Holdings Inc. Industrials	Added	119,502	+5,507	$24,730,938	−25.9%	1.27%
LH	Labcorp Holdings Inc. Healthcare	Added	80,041	+4,722	$24,661,432	+16.9%	1.27%
CAT	Caterpillar Inc Industrials	Reduced	30,414	-24,156	$24,659,367	−57.6%	1.27%
AEP	American Electric Power Co Inc Utilities	Held	203,038	0	$24,088,428	−13.3%	1.24%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	164,370	-45,000	$23,879,673	−22.2%	1.23%
TSCO	Tractor Supply Co Consumer Cyclical	Reduced	728,357	-31,350	$22,790,290	−5.1%	1.17%
LLY	ELI LILLY & Co Healthcare	Added	19,272	+1,255	$22,299,245	+3.2%	1.14%
AXP	American Express Co Financial Services	Added	72,065	+4,389	$21,914,966	−4.3%	1.13%
NVDA	Nvidia Corp Technology	Added	89,633	+5,990	$20,470,384	+22.3%	1.05%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	58,998	-18,800	$19,518,308	−23.4%	1.00%
T	At&T Inc. Communication Services	Reduced	794,010	-220,000	$19,373,844	−7.7%	0.99%
VLO	Valero Energy Corp Energy	Reduced	49,000	-55,300	$18,992,890	−30.1%	0.98%
DRI	Darden Restaurants Inc Consumer Cyclical	Reduced	97,400	-25,000	$18,822,550	−25.4%	0.97%
WAT	Waters Corp Healthcare	Added	41,642	+2,282	$18,297,078	+24.0%	0.94%
GOOGL	Alphabet Inc. Communication Services	Added	53,139	+3,342	$18,284,067	+2.7%	0.94%
MA	Mastercard Inc Financial Services	Added	31,995	+1,877	$17,644,282	+14.1%	0.91%
AMAT	Applied Materials Inc Technology	Added	33,560	+2,425	$17,161,912	−23.8%	0.88%
GD	General Dynamics Corp Industrials	Reduced	51,500	-15,000	$17,089,245	−27.5%	0.88%
DUK	Duke Energy CORP Utilities	Reduced	145,137	-15,000	$16,547,069	−18.4%	0.85%
EMR	Emerson Electric Co Industrials	Reduced	105,400	-33,800	$16,347,540	−18.0%	0.84%

Showing the top 50 of 125 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.