SFE Investment Counsel

Registered adviser

CIK

1317784

Location

LOS ANGELES, CA

Portfolio Value

Small $725,385,194

Diversification

Diversified

Filing Date

Global Rank

#2,972 / 8,811 ▼ 124

Top Industry

Semiconductors 14.9%

Period ended 4 months ago

Filed Aug 5, 2026 · 3mo

26 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 145530

Roster of Oct 1, 2026

Regulatory AUM

$748,352,379

Main clients

Individuals and high net worth (89% of AUM)

Private funds

2 funds · Private equity funds

Focus by gross assets, Schedule D of Dec 12, 2024

$1,119,920 gross assets

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

As filed Dec 12, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,119,920 gross assets in 2 funds Private equity funds $1,119,920 (2)

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 Oct 2026	$748,352,379	Individuals and high net worth (89%)
Jan 2025 to Dec 2025	$581,606,303	Individuals and high net worth (85%)
Apr 2024 to Dec 2024	$441,848,809	Individuals and high net worth (86%)
Dec 2023 to Mar 2024	$441,848,809	Individuals and high net worth (86%)
May 2023 to Nov 2023	$388,813,677	Individuals and high net worth (87%)
Jan 2023 to Apr 2023	$388,813,677	Individuals and high net worth (87%)

4 earlier changes not shown.

Portfolio style

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

Style

Diversified active

Top 10 weight 38.6%, 37.6 effective positions, active share 62.6% 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

14.7% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 20.7 quarters (12+), a floor since 58.4% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 62.6%; sector active share 11.5% 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

149 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

9.7%

−1.3 pts

Top 5

24.4%

−0.9 pts

Top 10

38.2%

−1.1 pts

HHI

263

Diversified−17

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	33.9%	$246,238,208	27
Industrials	14.6%	$105,657,763	25
Unclassified	11.0%	$79,557,210	33
Healthcare	9.2%	$67,083,908	15
Financial Services	8.8%	$64,039,037	14
Consumer Cyclical	6.9%	$50,348,729	13
Communication Services	4.1%	$29,546,390	5
Utilities	3.6%	$26,154,640	6
Energy	3.5%	$25,214,409	3
Consumer Defensive	2.4%	$17,074,183	5
Basic Materials	1.3%	$9,724,876	2
Real Estate	0.7%	$4,745,841	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BSCS	Invesco BulletShares 2028 Corporate Bond ETF	+37,847	378,645	$7,712,998
BSCU	Invesco BulletShares 2030 Corporate Bond ETF	+36,050	293,165	$4,879,731
PFE	Pfizer Inc	+30,975	122,530	$2,950,522
TTEK	Tetra Tech Inc	+29,426	176,857	$5,109,398
BSCR	Invesco BulletShares 2027 Corporate Bond ETF	+26,090	337,330	$6,616,727
BSJU		+24,079	274,568	$7,086,874
BSJV		+23,018	114,822	$3,014,077
BSCT	Invesco BulletShares 2029 Corporate Bond ETF	+19,868	344,227	$6,394,016
KLAC	Kla Corp	+18,000	20,000	$6,034,200
BSCV		+17,416	145,019	$2,376,136
CLF	Cleveland-Cliffs Inc.	+16,307	911,796	$8,561,764
UBER	Uber Technologies, Inc	+13,719	87,107	$6,285,641
BSJT		+12,030	378,154	$7,990,394
KMB	Kimberly Clark Corp	+11,435	48,065	$5,276,095
BX	Blackstone Inc.	+8,888	75,588	$8,894,439
ABT	Abbott Laboratories	+8,513	90,251	$8,189,375
J	Jacobs Solutions Inc.	+7,440	75,087	$9,460,962
IQV	Iqvia Holdings Inc.	+7,121	59,043	$11,408,288
BSJS	Invesco BulletShares 2028 High Yield Corporate Bond ETF	+6,757	390,757	$8,497,010
XYL	Xylem Inc.	+5,726	48,837	$5,773,021
NOW	ServiceNow, Inc.	+4,694	31,595	$3,136,751
PRU	Prudential Financial Inc	+4,614	90,299	$9,745,971
IBM	International Business Machines Corp	+3,957	38,650	$10,868,766
CRCL	Circle Internet Group, Inc.	+3,649	22,635	$1,417,630
LH	Labcorp Holdings Inc.	+3,554	36,478	$10,213,840
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BSJQ	Invesco BulletShares 2026 High Yield Corporate Bond ETF	−101,312	166,621	$3,825,618
BSCQ	Invesco BulletShares 2026 Corporate Bond ETF	−25,940	150,867	$2,945,678
ZTS	Zoetis Inc.	−19,266	4,615	$331,633
HON	Honeywell International Inc	−11,531	12,704	$2,844,425
WY	Weyerhaeuser Co	−10,802	198,239	$4,745,841
QCOM	Qualcomm Inc	−8,782	92,200	$17,037,638
MRVL	Marvell Technology, Inc.	−7,971	48,888	$14,563,246
T	At&T Inc.	−7,780	36,349	$752,424
AMD	Advanced Micro Devices Inc	−7,379	23,759	$13,801,840
CSCO	Cisco Systems, Inc.	−5,296	53,581	$6,293,624
F	Ford Motor Co	−4,315	76,210	$1,059,319
ROP	Roper Technologies Inc	−4,253	5,748	$1,945,065
PANW	Palo Alto Networks Inc	−4,013	80,533	$27,463,363
QUIK	QUICKLOGIC Corp	−4,000	14,000	$279,580
HASI	HA Sustainable Infrastructure Capital, Inc.	−3,878	154,759	$6,043,338
EXPE	Expedia Group, Inc.	−3,692	8,861	$2,267,352
GLW	Corning Inc	−3,477	18,709	$4,778,839
JEPI	JPMorgan Equity Premium Income ETF	−2,226	33,076	$1,868,132
GOOGL	Alphabet Inc.	−1,993	43,607	$15,583,833
PWR	Quanta Services, Inc.	−1,932	17,252	$12,422,130
AMAT	Applied Materials Inc	−1,819	17,438	$12,607,674
BEP	Brookfield Renewable Partners L.P.	−1,710	64,135	$2,227,408
VEU	Vanguard International Equity Index Funds	−1,500	7,647	$640,436
GOOG	Alphabet Inc.	−1,259	32,233	$11,388,885
BSJR	Invesco BulletShares 2027 High Yield Corporate Bond ETF	−1,257	358,973	$8,021,610
No positions match the current search.

New Positions

Positions the filer opened this quarter

14 positions

Ticker	Company	Shares	Value
HONA	Honeywell Aerospace Inc.	13,482	$2,980,600
CHWY	Chewy, Inc.	124,588	$2,448,154
FDXF	FedEx Freight Holding Company, Inc.	5,208	$786,408
FRVO	Fervo Energy Co	22,460	$656,505
BSJW		15,880	$401,684
BSCW		15,000	$307,650
TXN	Texas Instruments Inc	922	$274,820
SPCX	Space Exploration Technologies Corp	1,535	$262,270
CGGO	Capital Group Global Growth Equity ETF	5,709	$241,661
HXL	Hexcel Corp	2,357	$235,841
CAT	Caterpillar Inc	208	$221,499
BAC	Bank Of America Corp	3,656	$208,318
BN	BROOKFIELD Corp	4,851	$206,604
HD	Home Depot, Inc.	570	$201,027
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
FISV	Fiserv Inc	9,285	$518,103
WDAY	Workday, Inc.	2,435	$316,355
CME	Cme Group Inc.	872	$257,545
XOM	ExxonMobil Holdings Corp	1,370	$232,434
IEF	iShares 7-10 Year Treasury Bond ETF	2,499	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

149 tracked positions · $725,385,194 total · filing declares 152 positions · $741,514,339 · as of Jun 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 149 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVDA	Nvidia Corp Technology	Added	138,995	+2,610	$27,811,509	+16.9%	26+	before history	3.83%
PANW	Palo Alto Networks Inc Technology	Reduced	80,533	-4,013	$27,463,363	+102.6%	26+	before history	3.79%
AAPL	Apple Inc. Technology	Reduced	86,015	-861	$24,889,300	+12.9%	26+	before history	3.43%
MSFT	Microsoft Corp Technology	Added	58,178	+922	$21,701,557	+2.4%	26+	before history	2.99%
AVGO	Broadcom Inc. Technology	Reduced	56,951	-989	$21,513,240	+20.0%	22	$77.30	2.97%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	59,236	-321	$19,389,719	+10.7%	26+	before history	2.67%
AMZN	Amazon Com Inc Consumer Cyclical	Added	81,327	+1,685	$19,383,477	+16.9%	26+	before history	2.67%
OKE	Oneok Inc Energy	Reduced	204,610	-374	$17,788,793	−4.0%	26+	before history	2.45%
QCOM	Qualcomm Inc Technology	Reduced	92,200	-8,782	$17,037,638	+31.0%	26+	before history	2.35%
GOOGL	Alphabet Inc. Communication Services	Reduced	43,607	-1,993	$15,583,833	+18.8%	26+	before history	2.15%
NEE	Nextera Energy Inc Utilities	Added	174,989	+83	$15,358,784	−5.5%	26+	before history	2.12%
FSLR	First Solar, Inc. Technology	Reduced	62,790	-502	$14,815,928	+18.7%	26+	before history	2.04%
MRVL	Marvell Technology, Inc. Technology	Reduced	48,888	-7,971	$14,563,246	+158.6%	4	$80.22	2.01%
AMD	Advanced Micro Devices Inc Technology	Reduced	23,759	-7,379	$13,801,840	+117.9%	16	$110.65	1.90%
USB	US Bancorp De Financial Services	Reduced	223,299	-351	$13,487,259	+15.9%	26+	before history	1.86%
CMI	Cummins Inc Industrials	Reduced	18,235	-1,118	$13,005,384	+24.9%	26+	before history	1.79%
URI	United Rentals, Inc. Industrials	Added	11,268	+255	$12,765,404	+59.1%	12	$606.32	1.76%
AMAT	Applied Materials Inc Technology	Reduced	17,438	-1,819	$12,607,674	+91.6%	26+	before history	1.74%
PWR	Quanta Services, Inc. Industrials	Reduced	17,252	-1,932	$12,422,130	+17.9%	21	$241.09	1.71%
LOW	Lowes Companies Inc Consumer Cyclical	Added	55,726	+1,173	$12,287,025	−4.7%	26+	before history	1.69%
KLAC	Kla Corp PUT + SHARES Technology	Added	40,000	+36,000	$12,068,400	+104.9%	5	$75.23	1.66%
IQV	Iqvia Holdings Inc. Healthcare	Added	59,043	+7,121	$11,408,288	+28.8%	10	$196.60	1.57%
GOOG	Alphabet Inc. Communication Services	Reduced	32,233	-1,259	$11,388,885	+18.5%	26+	before history	1.57%
IBM	International Business Machines Corp Technology	Added	38,650	+3,957	$10,868,766	+29.2%	24	unpriced	1.50%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	11,067	-110	$10,352,846	−7.0%	26+	before history	1.43%
LH	Labcorp Holdings Inc. Healthcare	Added	36,478	+3,554	$10,213,840	+16.3%	9	$217.79	1.41%
PRU	Prudential Financial Inc Financial Services	Added	90,299	+4,614	$9,745,971	+16.4%	20	$104.66	1.34%
WSM	Williams Sonoma Inc Consumer Cyclical	Added	41,393	+577	$9,648,708	+29.7%	23	unpriced	1.33%
J	Jacobs Solutions Inc. Industrials	Added	75,087	+7,440	$9,460,962	+9.9%	16	unpriced	1.30%
BX	Blackstone Inc. Financial Services	Added	75,588	+8,888	$8,894,439	+16.0%	26+	before history	1.23%
CLF	Cleveland-Cliffs Inc. Basic Materials	Added	911,796	+16,307	$8,561,764	+13.1%	26+	before history	1.18%
BSJS	Invesco BulletShares 2028 High Yield Corporate Bond ETF	Added	390,757	+6,757	$8,497,010	+2.0%	15	$21.30	1.17%
ETN	Eaton Corp plc Industrials	Reduced	19,589	-420	$8,347,264	+16.6%	26+	before history	1.15%
ABT	Abbott Laboratories Healthcare	Added	90,251	+8,513	$8,189,375	−2.4%	26+	before history	1.13%
BSJR	Invesco BulletShares 2027 High Yield Corporate Bond ETF	Reduced	358,973	-1,257	$8,021,610	−0.4%	12	$21.90	1.11%
BSJT		Added	378,154	+12,030	$7,990,394	+3.8%	11	$21.12	1.10%
BSCS	Invesco BulletShares 2028 Corporate Bond ETF	Added	378,645	+37,847	$7,712,998	+10.8%	15	$20.10	1.06%
DHR	Danaher Corp Healthcare	Added	38,721	+2,601	$7,375,576	+7.7%	20	unpriced	1.02%
LLY	ELI LILLY & Co Healthcare	Added	5,971	+144	$7,161,797	+33.6%	14	$776.38	0.99%
BSJU		Added	274,568	+24,079	$7,086,874	+10.6%	10	$25.89	0.98%
LHX	L3harris Technologies, Inc. Industrials	Added	23,782	+110	$6,910,811	−15.4%	26+	before history	0.95%
JNJ	Johnson & Johnson Healthcare	Added	26,617	+60	$6,759,919	+4.1%	26+	before history	0.93%
BSCR	Invesco BulletShares 2027 Corporate Bond ETF	Added	337,330	+26,090	$6,616,727	+8.3%	15	$19.33	0.91%
BSCT	Invesco BulletShares 2029 Corporate Bond ETF	Added	344,227	+19,868	$6,394,016	+5.6%	10	$18.47	0.88%
CSCO	Cisco Systems, Inc. Technology	Reduced	53,581	-5,296	$6,293,624	+37.8%	26+	before history	0.87%
UBER	Uber Technologies, Inc Technology	Added	87,107	+13,719	$6,285,641	+19.1%	6	$80.96	0.87%
HASI	HA Sustainable Infrastructure Capital, Inc. Financial Services	Reduced	154,759	-3,878	$6,043,338	+3.7%	26+	before history	0.83%
DCI	DONALDSON Co INC Industrials	Reduced	64,958	-825	$5,831,279	+4.4%	26+	before history	0.80%
XYL	Xylem Inc. Industrials	Added	48,837	+5,726	$5,773,021	+12.1%	12	$117.48	0.80%
GEV	GE Vernova Inc. Industrials	Reduced	4,675	-330	$5,492,470	+25.7%	9	$167.92	0.76%

Showing the top 50 of 149 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.