# NATURAL INVESTMENTS, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1800245. Source: https://holderbook.com/funds/1800245-natural-investments-llc/

- Reported value: $455.2M
- Positions: 301
- Weight of the ten largest: 35.8%
- Filed: 2026-07-31

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/) | $34.0M | 117,657 | 7.5% | 7 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $23.2M | 115,946 | 5.1% | 7 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $18.3M | 49,008 | 4.0% | 7 |
| ETF SER SOLUTIONS | [VEGN](https://holderbook.com/stocks/VEGN/) | $17.2M | 209,479 | 3.8% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $13.4M | 37,638 | 3.0% | 3 |
| TIDAL TRUST I | [JSTC](https://holderbook.com/stocks/JSTC/) | $13.1M | 573,564 | 2.9% | 3 |
| ISHARES TR | [DSI](https://holderbook.com/stocks/DSI/) | $12.6M | 88,429 | 2.8% | 3 |
| EA SERIES TRUST | [CHGX](https://holderbook.com/stocks/CHGX/) | $12.3M | 369,592 | 2.7% | 3 |
| MANAGER DIRECTED PORTFOLIOS | [VGSR](https://holderbook.com/stocks/VGSR/) | $10.0M | 880,979 | 2.2% | 3 |
| VANECK ETF TRUST | [GRNB](https://holderbook.com/stocks/GRNB/) | $8.6M | 355,772 | 1.9% | 3 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $8.4M | 33,331 | 1.8% | 7 |
| INVESTMENT MANAGERS SER TR I | [NXTE](https://holderbook.com/stocks/NXTE/) | $7.7M | 141,248 | 1.7% | 3 |
| HA SUSTAINABLE INFRA CAP INC | [HASI](https://holderbook.com/stocks/HASI/) | $7.5M | 193,258 | 1.7% | 7 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $6.7M | 19,131 | 1.5% | 7 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $6.7M | 5,609 | 1.5% | 7 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $5.6M | 17,036 | 1.2% | 7 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $5.5M | 11,518 | 1.2% | 7 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $5.2M | 7 | 1.2% | 6 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $5.2M | 15,212 | 1.1% | 3 |
| QUAKER INVT TR | [OWNS](https://holderbook.com/stocks/OWNS/) | $5.1M | 295,066 | 1.1% | 3 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $4.4M | 8,532 | 1.0% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.3M | 12,260 | 1.0% | 7 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $3.9M | 1,950 | 0.9% | 7 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $3.9M | 4,144 | 0.9% | 7 |
| AMPLIFY ETF TR | [ETHO](https://holderbook.com/stocks/ETHO/) | $3.5M | 43,995 | 0.8% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $3.5M | 23,677 | 0.8% | 7 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $3.4M | 5,900 | 0.8% | 7 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $3.2M | 35,541 | 0.7% | 7 |
| BROOKFIELD RENEWABLE CORP | [BEPC](https://holderbook.com/stocks/BEPC/) | $2.9M | 79,241 | 0.6% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.9M | 3,894 | 0.6% | 7 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $2.9M | 8,506 | 0.6% | 7 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $2.7M | 25,520 | 0.6% | 7 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.6M | 7,586 | 0.6% | 7 |
| MORGAN STANLEY ETF TRUST | [CVMC](https://holderbook.com/stocks/CVMC/) | $2.5M | 33,504 | 0.6% | 3 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $2.5M | 13,360 | 0.6% | 1 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $2.5M | 5,929 | 0.6% | 7 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.4M | 9,613 | 0.5% | 7 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $2.3M | 37,894 | 0.5% | 3 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $2.2M | 8,021 | 0.5% | 7 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $2.1M | 7,832 | 0.5% | 7 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.0M | 5,412 | 0.4% | 7 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $2.0M | 4,717 | 0.4% | 7 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $2.0M | 8,232 | 0.4% | 7 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.0M | 15,454 | 0.4% | 7 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $1.9M | 14,349 | 0.4% | 7 |
| FRANKLIN ETF TR | [FTSD](https://holderbook.com/stocks/FTSD/) | $1.9M | 20,933 | 0.4% | 7 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.9M | 16,082 | 0.4% | 7 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $1.9M | 3,786 | 0.4% | 7 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $1.8M | 14,038 | 0.4% | 7 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $1.8M | 3,468 | 0.4% | 7 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $1.8M | 7,536 | 0.4% | 7 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.8M | 12,717 | 0.4% | 6 |
| NUSHARES ETF TR | [NUDM](https://holderbook.com/stocks/NUDM/) | $1.7M | 43,327 | 0.4% | 3 |
| XYLEM INC | [XYL](https://holderbook.com/stocks/XYL/) | $1.7M | 14,557 | 0.4% | 7 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $1.7M | 5,170 | 0.4% | 7 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.7M | 6,050 | 0.4% | 7 |
| ENCOMPASS HEALTH CORP | [EHC](https://holderbook.com/stocks/EHC/) | $1.7M | 16,818 | 0.4% | 5 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $1.7M | 2,630 | 0.4% | 7 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $1.7M | 3,336 | 0.4% | 2 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $1.6M | 11,834 | 0.4% | 7 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $1.6M | 9,674 | 0.3% | 7 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $1.6M | 13,600 | 0.3% | 3 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $1.5M | 5,647 | 0.3% | 7 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.5M | 14,928 | 0.3% | 7 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $1.4M | 11,677 | 0.3% | 7 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $1.4M | 5,575 | 0.3% | 5 |
| NEXTPOWER INC | [NXT](https://holderbook.com/stocks/NXT/) | $1.4M | 11,857 | 0.3% | 2 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $1.4M | 3,879 | 0.3% | 7 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.4M | 5,844 | 0.3% | 7 |
| LEGG MASON ETF INVT | [LRGE](https://holderbook.com/stocks/LRGE/) | $1.4M | 16,181 | 0.3% | 3 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $1.4M | 3,708 | 0.3% | 7 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $1.3M | 7,474 | 0.3% | 7 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $1.3M | 4,451 | 0.3% | 7 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $1.3M | 7,976 | 0.3% | 7 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.3M | 21,992 | 0.3% | 7 |
| PRAXIS FDS | [PRXG](https://holderbook.com/stocks/PRXG/) | $1.2M | 30,936 | 0.3% | 4 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $1.2M | 1,621 | 0.3% | 7 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.2M | 2,384 | 0.3% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $1.2M | 989 | 0.3% | 5 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $1.2M | 1,602 | 0.3% | 5 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $1.2M | 14,022 | 0.3% | 2 |
| GLOBAL X FDS | [RNRG](https://holderbook.com/stocks/RNRG/) | $1.1M | 32,048 | 0.3% | 3 |
| BROOKFIELD RENEWABLE ENERGY | [BEP](https://holderbook.com/stocks/BEP/) | $1.1M | 32,860 | 0.3% | 7 |
| EAST WEST BANCORP INC | [EWBC](https://holderbook.com/stocks/EWBC/) | $1.1M | 8,756 | 0.2% | 7 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $1.1M | 2,804 | 0.2% | 5 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.1M | 15,045 | 0.2% | 7 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.1M | 1,420 | 0.2% | 3 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $1.1M | 3,100 | 0.2% | 7 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $1.0M | 1,845 | 0.2% | 2 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $1.0M | 4,935 | 0.2% | 5 |
| AMALGAMATED FINANCIAL CORP | [AMAL](https://holderbook.com/stocks/AMAL/) | $1.0M | 22,061 | 0.2% | 7 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $1.0M | 5,739 | 0.2% | 5 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $1.0M | 4,507 | 0.2% | 7 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $1.0M | 16,679 | 0.2% | 7 |
| INVESCO EXCH TRADED FD TR II | [TAN](https://holderbook.com/stocks/TAN/) | $1.0M | 16,946 | 0.2% | 3 |
| ALCON AG | [ALC](https://holderbook.com/stocks/ALC/) | $996.0K | 14,847 | 0.2% | 7 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $984.0K | 5,065 | 0.2% | 7 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $974.0K | 9,532 | 0.2% | 7 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $955.0K | 563 | 0.2% | 7 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $955.0K | 844 | 0.2% | 6 |

## 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 | +13.8% | +14.8% | -1.0% | 100% |
| Q1 2026 | -4.7% | -4.6% | -0.0% | 100% |
| Q4 2025 | +1.9% | +2.4% | -0.5% | 110% |
| Q3 2025 | +6.3% | +7.8% | -1.6% | 100% |
| Q2 2025 | +8.9% | +10.5% | -1.6% | 98% |
| Q1 2025 | -3.4% | -4.6% | +1.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $455.2M | 301 |
| Q1 2026 | $405.4M | 288 |
| Q4 2025 | $401.8M | 280 |
| Q3 2025 | $403.3M | 238 |
| Q2 2025 | $386.6M | 255 |
| Q1 2025 | $352.7M | 246 |
| Q4 2024 | $361.3M | 246 |
| Q4 2022 | $1.0K | 1 |
| Q3 2022 | $80.4M | 1 |
| Q2 2022 | $100.1M | 1 |
| Q1 2022 | $121.0M | 1 |
| Q4 2021 | $235.4M | 2 |