Q3 2026 13F · SEC CIK 1310929

Willis Investment Counsel

Institutional asset managerFiled 2026-10-20 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.0B
Reported positions: 128
Top holdings a year, 3 yrs: +7.5%
Assets under management: $4.2B

Willis Investment Counsel is an institutional asset manager that reported 128 positions worth $2.0B in its Q3 2026 13F, filed 2026-10-20. Its largest holdings were Cisco Sys Inc (CSCO, 4.0%), Johnson & Johnson (JNJ, 3.5%), Microsoft Corp (MSFT, 3.2%). A portfolio copying its top holdings returned 7.5% a year over the last 3 years, against 18.8% for the S&P 500.

Willis Investment Counsel holdings largest 50 of 128 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Willis Investment Counsel 13F holdings
Stock	% of 13F value	Q2 2026	Shares	Share change	Reported value
CSCOCisco Sys Inc	4.0%	5.0%	730,663	-17.4%	$78.6M
JNJJohnson & Johnson	3.5%	3.7%	260,759	-15.7%	$69.0M
MSFTMicrosoft Corp	3.2%	2.2%	124,219	+2.5%	$63.7M
TXNTexas Instrs Inc	2.9%	3.4%	204,331	-13.8%	$57.2M
PAYXPaychex Inc	2.4%	2.2%	484,114	+3.5%	$47.7M
CBChubb Limited	2.4%	2.6%	146,436	-10.1%	$47.6M
ACNAccenture PLC Ireland	2.4%	1.6%	257,325	-3.3%	$47.2M
PFEPfizer Inc	2.3%	2.1%	1,586,648	-12.8%	$45.3M
FTNTFortinet Inc	2.3%	1.7%	249,169	+7.9%	$44.5M
XOMExxonmobil Holdings Corp	2.1%	1.6%	254,964	+3.3%	$41.5M
LMTLockheed Martin Corp	2.1%	2.3%	80,941	-15.9%	$41.2M
KEYSKeysight Technologies Inc	1.9%	1.6%	101,523	+6.8%	$37.0M
MDTMedtronic PLC	1.9%	1.5%	423,859	+2.2%	$36.6M
ADPAutomatic Data Processing in	1.8%	1.6%	136,756	-7.6%	$35.3M
MRKMerck & Co Inc	1.8%	1.9%	238,067	-23.9%	$34.6M
AFLAflac Inc	1.7%	1.8%	305,797	-5.8%	$34.2M
ABTAbbott Laboratories	1.7%	1.5%	345,349	+0.0%	$34.1M
HDHome Depot Inc	1.7%	1.9%	115,428	+2.3%	$32.8M
COPConocophillips	1.6%	1.4%	255,371	-6.9%	$32.0M
AAPLApple Inc	1.5%	1.5%	88,286	-20.7%	$29.4M
ETNEaton Corp PLC	1.5%	1.6%	67,873	-11.8%	$29.2M
SHELShell PLC	1.4%	1.1%	300,089	+2.8%	$28.5M
ADBEAdobe Inc	1.4%	1.0%	114,918	+10.7%	$27.6M
DGXQuest Diagnostics Inc	1.4%	1.5%	117,200	-22.6%	$27.3M
GWWWw Grainger Inc	1.4%	1.3%	21,827	+8.6%	$27.2M
HSYHershey Co	1.3%	1.6%	163,492	-14.3%	$25.8M
VZVerizon Communications Inc	1.3%	1.1%	557,990	+0.0%	$25.6M
PEPPepsico Inc	1.3%	1.5%	198,361	-17.2%	$25.1M
SNYNFSanofi SA	1.3%	1.2%	602,300	+0.0%	$24.8M
MMM3m Co	1.3%	1.1%	151,052	+2.9%	$24.8M
GNRCGenerac Hldgs Inc	1.3%	1.6%	119,502	+4.8%	$24.7M
LHLabcorp Holdings Inc	1.3%	1.0%	80,041	+6.3%	$24.7M
CATCaterpillar Inc	1.3%	2.8%	30,414	-44.3%	$24.7M
AEPAmerican Elec Pwr Co Inc	1.2%	1.3%	203,038	+0.0%	$24.1M
PGProcter & Gamble Co	1.2%	1.5%	164,370	-21.5%	$23.9M
TSCOTractor Supply Co	1.2%	1.1%	728,357	-4.1%	$22.8M
LLYEli Lilly & Co	1.1%	1.0%	19,272	+7.0%	$22.3M
AXPAmerican Express Co	1.1%	1.1%	72,065	+6.5%	$21.9M
NVDANvidia Corporation	1.0%	—	89,633	—	$20.5M
RSPInvesco Exchange Traded Fd T	1.0%	—	94,872	—	$19.7M
JPMJpmorgan Chase & Co	1.0%	1.2%	58,998	-24.2%	$19.5M
TAt&t Inc	1.0%	1.0%	794,010	-21.7%	$19.4M
VLOValero Energy Corp	1.0%	1.3%	49,000	-53.0%	$19.0M
DRIDarden Restaurants Inc	1.0%	1.2%	97,400	-20.4%	$18.8M
WATWaters Corp	0.9%	—	41,642	—	$18.3M
GOOGLAlphabet Inc	0.9%	—	53,139	—	$18.3M
MAMastercard Incorporated	0.9%	—	31,995	—	$17.6M
AMATApplied Matls Inc	0.9%	1.1%	33,560	+7.8%	$17.2M
GDGeneral Dynamics Corp	0.9%	1.1%	51,500	-22.6%	$17.1M
DUKDuke Energy Corp New	0.8%	1.0%	145,137	-9.4%	$16.5M

What Willis Investment Counsel bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Added to

ADBE Adobe Inc+10.7% shares
GWW Ww Grainger Inc+8.6% shares
FTNT Fortinet Inc+7.9% shares
AMAT Applied Matls Inc+7.8% shares
LLY Eli Lilly & Co+7.0% shares
KEYS Keysight Technologies Inc+6.8% shares
AXP American Express Co+6.5% shares
LH Labcorp Holdings Inc+6.3% shares

Reduced

VLO Valero Energy Corp-53.0% shares
CAT Caterpillar Inc-44.3% shares
JPM Jpmorgan Chase & Co-24.2% shares
MRK Merck & Co Inc-23.9% shares
DGX Quest Diagnostics Inc-22.6% shares
GD General Dynamics Corp-22.6% shares
T At&t Inc-21.7% shares
PG Procter & Gamble Co-21.5% shares

Left the top 50

Share counts compared with the Q2 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +17.0% /yr; S&P 500 +20.1%
3 years: +7.5% /yr; S&P 500 +18.8%
5 years: +1.9% /yr; S&P 500 +9.8%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q3 2026	$2.0B	128
Q2 2026	$2.1B	125
Q1 2026	$1.8B	123
Q4 2025	$1.9B	130
Q3 2025	$1.8B	127
Q2 2025	$1.7B	118
Q1 2025	$1.5B	117
Q4 2024	$1.5B	116
Q3 2024	$1.5B	113
Q2 2024	$1.4B	107
Q1 2024	$1.5B	107
Q4 2023	$1.4B	113

Questions about Willis Investment Counsel's portfolio

What stocks does Willis Investment Counsel own?

Willis Investment Counsel's latest 13F, for Q3 2026 and filed Oct 20, 2026, lists 128 positions worth $2.0B. The largest are Cisco Sys Inc (CSCO) at 4.0%, Johnson & Johnson (JNJ) at 3.5%, Microsoft Corp (MSFT) at 3.2%, Texas Instrs Inc (TXN) at 2.9% and Paychex Inc (PAYX) at 2.4%.

What did Willis Investment Counsel buy last quarter?

In Q3 2026, Willis Investment Counsel added Adobe Inc (ADBE) (+10.7% shares), Ww Grainger Inc (GWW) (+8.6% shares) and Fortinet Inc (FTNT) (+7.9% shares), compared with its Q2 2026 filing.

What did Willis Investment Counsel sell last quarter?

In Q3 2026, Willis Investment Counsel cut from its top 50 Bhp Billiton Limited (BHP), cut from its top 50 Mcdonalds Corp (MCD), cut from its top 50 Clorox Company (CLX), cut from its top 50 Deere & Co (DE), cut from its top 50 Emerson Elec Co (EMR), Valero Energy Corp (VLO) (-53.0% shares), Caterpillar Inc (CAT) (-44.3% shares) and Jpmorgan Chase & Co (JPM) (-24.2% shares), compared with its Q2 2026 filing.

How has Willis Investment Counsel's portfolio performed?

A portfolio copying Willis Investment Counsel's 20 largest 13F holdings each quarter, from the day each filing was public, returned +7.5% a year over the last 3 years, against +18.8% for the S&P 500. Over 1 year: +17.0% against +20.1%. Over 5 years: +1.9% a year against +9.8%.

When is Willis Investment Counsel's next 13F filing due?

13F filings are due 45 days after each quarter ends. Willis Investment Counsel's filing for the quarter ending Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.

How much money does Willis Investment Counsel manage?

Willis Investment Counsel reported $4.2B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.0B.