# Lipe & Dalton

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1570396. Source: https://holderbook.com/funds/1570396-lipe-dalton/

- Reported value: $215.1M
- Positions: 94
- Weight of the ten largest: 45.1%
- Filed: 2026-07-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $18.7M | 64,456 | 8.7% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $17.4M | 49,227 | 8.1% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $14.0M | 13,887 | 6.5% | 31 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $8.6M | 74,660 | 4.0% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $7.8M | 56,094 | 3.6% | 31 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $7.0M | 164,830 | 3.3% | 15 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $6.6M | 32,908 | 3.1% | 8 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $6.1M | 15,130 | 2.8% | 8 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $5.9M | 27,116 | 2.7% | 25 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $4.9M | 25,782 | 2.3% | 25 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $4.9M | 20,403 | 2.3% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $4.7M | 9,315 | 2.2% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $4.6M | 18,365 | 2.1% | 31 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $4.6M | 26,212 | 2.1% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $4.6M | 7,243 | 2.1% | 31 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $4.5M | 67,775 | 2.1% | 10 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $4.5M | 31,375 | 2.1% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $4.3M | 8,533 | 2.0% | 5 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $4.1M | 25,832 | 1.9% | 22 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $4.1M | 21,358 | 1.9% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $4.0M | 19,101 | 1.9% | 31 |
| MASCO CORP | [MAS](https://holderbook.com/stocks/MAS/) | $4.0M | 48,955 | 1.9% | 6 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $3.8M | 8,840 | 1.8% | 31 |
| BAXTER INTL INC | [BAX](https://holderbook.com/stocks/BAX/) | $3.5M | 165,983 | 1.6% | 31 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $3.3M | 50,022 | 1.5% | 29 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $3.2M | 36,530 | 1.5% | 25 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $2.7M | 7,427 | 1.2% | 30 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $2.6M | 18,755 | 1.2% | 24 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $2.5M | 23,870 | 1.1% | 31 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $2.4M | 107,477 | 1.1% | 1 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $2.3M | 3,963 | 1.1% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.2M | 6,463 | 1.0% | 31 |
| LYONDELLBASELL INDUSTRIES NV | [LYB](https://holderbook.com/stocks/LYB/) | $2.2M | 41,470 | 1.0% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $2.1M | 4,180 | 1.0% | 19 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.1M | 5,653 | 1.0% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.1M | 8,092 | 1.0% | 31 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $1.9M | 4,580 | 0.9% | 8 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $1.9M | 3,761 | 0.9% | 23 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $1.8M | 40,091 | 0.8% | 15 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.4M | 2,554 | 0.7% | 29 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $1.3M | 10,279 | 0.6% | 16 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.3M | 9,883 | 0.6% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $1.2M | 14,838 | 0.6% | 25 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $1.2M | 4,437 | 0.6% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.1M | 7,421 | 0.5% | 31 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $1.0M | 13,962 | 0.5% | 25 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $905.0K | 3,000 | 0.4% | 6 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $829.0K | 4,650 | 0.4% | 2 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $791.0K | 3,951 | 0.4% | 25 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $706.0K | 16,683 | 0.3% | 31 |
| CONSOLIDATED EDISON INC | [ED](https://holderbook.com/stocks/ED/) | $697.0K | 6,303 | 0.3% | 1 |
| U HAUL HOLDING COMPANY | [UHALB](https://holderbook.com/stocks/UHALB/) | $642.0K | 11,135 | 0.3% | 4 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $631.0K | 1,850 | 0.3% | 14 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $570.0K | 6,428 | 0.3% | 11 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $565.0K | 5,925 | 0.3% | 1 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $555.0K | 10,000 | 0.3% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $519.0K | 1,585 | 0.2% | 31 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $482.0K | 11,300 | 0.2% | 1 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $480.0K | 4,084 | 0.2% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $471.0K | 1,743 | 0.2% | 31 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $427.0K | 5,941 | 0.2% | 14 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $416.0K | 790 | 0.2% | 4 |
| FORTIVE CORP | [FTV](https://holderbook.com/stocks/FTV/) | $365.0K | 5,971 | 0.2% | 31 |
| WHIRLPOOL CORP | [WHR](https://holderbook.com/stocks/WHR/) | $311.0K | 7,880 | 0.1% | 4 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $304.0K | 2,245 | 0.1% | 31 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $287.0K | 1,430 | 0.1% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $271.0K | 1,983 | 0.1% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $257.0K | 1,750 | 0.1% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $254.0K | 720 | 0.1% | 30 |
| SOUTH BOW CORP | [SOBO](https://holderbook.com/stocks/SOBO/) | $245.0K | 9,844 | 0.1% | 7 |
| AMENTUM HOLDINGS INC | [AMTM](https://holderbook.com/stocks/AMTM/) | $226.0K | 10,916 | 0.1% | 8 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $221.0K | 380 | 0.1% | 5 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $198.0K | 3,275 | 0.1% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $188.0K | 366 | 0.1% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $143.0K | 1,580 | 0.1% | 6 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $142.0K | 1,480 | 0.1% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $130.0K | 300 | 0.1% | 1 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $124.0K | 333 | 0.1% | 4 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $122.0K | 1,500 | 0.1% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $119.0K | 4,954 | 0.1% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $115.0K | 304 | 0.1% | 16 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $100.0K | 1,400 | 0.0% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $92.0K | 257 | 0.0% | 29 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $86.0K | 73 | 0.0% | 1 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $81.0K | 1,125 | 0.0% | 2 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $56.0K | 971 | 0.0% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $46.0K | 800 | 0.0% | 31 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $31.0K | 243 | 0.0% | 23 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $28.0K | 100 | 0.0% | 8 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $27.0K | 100 | 0.0% | 30 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $25.0K | 224 | 0.0% | 10 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $20.0K | 19 | 0.0% | 2 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $16.0K | 13 | 0.0% | 3 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $11.0K | 125 | 0.0% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.5% | +14.8% | -1.3% | 100% |
| Q1 2026 | -1.9% | -4.6% | +2.7% | 100% |
| Q4 2025 | +3.5% | +2.4% | +1.2% | 100% |
| Q3 2025 | +9.7% | +7.8% | +1.9% | 100% |
| Q2 2025 | +5.9% | +10.5% | -4.5% | 100% |
| Q1 2025 | -2.7% | -4.6% | +1.8% | 100% |
| Q4 2024 | -0.4% | +2.1% | -2.5% | 98% |
| Q3 2024 | +6.6% | +5.4% | +1.2% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $215.1M | 94 |
| Q1 2026 | $191.0M | 92 |
| Q4 2025 | $202.4M | 95 |
| Q3 2025 | $201.8M | 93 |
| Q2 2025 | $185.0M | 89 |
| Q1 2025 | $178.7M | 88 |
| Q4 2024 | $188.5M | 93 |
| Q3 2024 | $198.0M | 101 |
| Q2 2024 | $185.9M | 97 |
| Q1 2024 | $194.0M | 105 |
| Q4 2023 | $184.3M | 103 |
| Q3 2023 | $166.2M | 99 |