DAVIDSON INVESTMENT ADVISORS

Long Only Manager

DAVIDSON INVESTMENT ADVISORS is a Long Only Manager based in Great Falls, MT led by Lawrence Todd Martinez, reporting $4.8B in AUM as of Q3 2025 with IXUS as the largest holding (7% allocation).

CEOLawrence Todd Martinez

Portfolio Value: $2.4B
Positions: 122
Top Holding: IXUS at 7.03%
Last Reported: Q3 2025

Address8 Third Street North, Great Falls, MT, 59401-3104, United States

Top Holdings

Largest long holdings in DAVIDSON INVESTMENT ADVISORS's portfolio (35.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core MSCI Total International Stock IXUS	ETF ETF	$165.7M	7.03%	+$25.2M Bought	— 2.0M shares	Q2 2020 Held for 5y 5m
2 Microsoft MSFT	Software - Infrastructure Technology	$111.7M	4.74%	-$840.6K Sold	0.00% 215.6K shares	≤ Q2 2013 Held for 12y 5m+
3 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$109.6M	4.65%	-$6.1M Sold	0.00% 449.9K shares	Q2 2014 Held for 11y 5m
4 Amazon AMZN	Specialty Retail Consumer Cyclical	$95.7M	4.06%	-$261.9K Sold	0.00% 435.9K shares	Q1 2020 Held for 5y 8m
5 Apple AAPL	Consumer Electronics Technology	$92.5M	3.92%	+$130.9K Bought	0.00% 363.1K shares	≤ Q2 2013 Held for 12y 5m+
6 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$60.6M	2.57%	+$118.7K Bought	— 217.1K shares	Q4 2024 Held for 11 months
7 Nvidia NVDA	Semiconductors Technology	$56.0M	2.38%	+$14.5M Bought	0.00% 300.0K shares	Q4 2023 Held for 1y 11m
8 Broadcom Inc. AVGO	Semiconductors Technology	$46.8M	1.99%	+$276.5K Bought	0.00% 141.8K shares	Q3 2024 Held for 1y 2m
9 Labcorp Holdings LH	Medical - Diagnostics & Research Healthcare	$46.0M	1.95%	+$135.8K Bought	0.19% 160.1K shares	≤ Q2 2013 Held for 12y 5m+
10 Raytheon Technologies RTX	Aerospace & Defense Industrials	$45.8M	1.94%	-$15.2M Sold	0.02% 273.9K shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in DAVIDSON INVESTMENT ADVISORS's latest filing

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Market Value

$2.4B

Prior: $2.2B

Q/Q Change

+5.93%

+$132.0M

Net Flows % of MV

+0.177%

Turnover Ratio

3.64%

New Purchases

3 stocks

$20.1M

Added To

54 stocks

+$76.3M

Sold Out Of

3 stocks

$1.3M

Reduced Holdings

42 stocks

-$90.9M

Increased Positions

Position	Shares Δ	Change
1 Hyatt Hotels H	New	0 → 70.4K +$10.0M
2 EQT Corporation EQT	New	0 → 178.4K +$9.7M
3 Vanguard Total International Stock VXUS	New	0 → 5.2K +$382.9K
4 Otis Worldwide OTIS	+60.71%	179.2K → 287.9K +$9.9M
5 Nvidia NVDA	+35.03%	222.2K → 300.0K +$14.5M

Decreased Positions

Position	Shares Δ	Change
1 Vanguard FTSE Emerging Markets VWO	Sold	18.5K → 0 −$913.5K
2 Vanguard FTSE Developed Markets VEA	Sold	3.7K → 0 −$213.7K
3 Micron Technology MU	Sold	1.7K → 0 −$203.4K
4 iShares Core MSCI International Developed Markets IDEV	-93.36%	250.9K → 16.7K −$18.8M
5 Goldman Sachs Group GS	-35.33%	51.7K → 33.4K −$14.6M