Institutional Manager · CIK 0001310929

Willis Investment Counsel

GAINESVILLE, GA · File #028-11914

Latest AUM

$1.94B

Positions

130

Top-10 Concentration

33.8%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	Waste Management Inc New	94106L109	+69,021	+$15.2M	$0
ADD	Abbott Laboratories	ABLZF	+92,383	+$11.6M	-$925,256
ADD	Adobe Systems Inc	ADBE	+23,671	+$8.3M	-$47,041
ADD	Vanguard Small Cap Value ETF	922908611	+24,344	+$5.2M	+$167,700
ADD	Zoetis Inc	ZTS	+29,806	+$3.8M	-$1.5M
ADD	Invesco Exchange Traded Fd Tr	IVZ	+15,595	+$3.0M	+$92,847
REDUCE	Clorox Co Del Com	CLX	-27,800	-$2.8M	-$5.2M
REDUCE	Lockheed Martin Corp	LMT	-5,521	-$2.7M	-$1.6M
ADD	Sanofi-Aventis	SNYNF	+47,300	+$2.3M	+$701,442
ADD	Jack Henry & Associates	426281101	+11,764	+$2.1M	+$196,166

Sector Allocation

18.4%$356.3M

14.3%$277.0M

13.7%$265.0M

8.5%$163.7M

Consumer Discretionary

8.3%$161.6M

Financials

7.5%$145.5M

Energy

4.5%$86.2M

Communication Services

1.7%$33.8M

Materials

0.4%$7.7M

Real Estate

0.1%$2.3M

Utilities

0.0%$387,778

Filing History

Jan 22, 202613F HOLDINGS REPORTQ/E Dec 2025130 pos · $1.94B
Nov 5, 202513F HOLDINGS REPORTQ/E Sep 2025127 pos · $1.83B
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 2025118 pos · $1.71B
Apr 16, 202513F HOLDINGS REPORTQ/E Mar 2025117 pos · $1.49B
Jan 24, 202513F HOLDINGS REPORTQ/E Dec 2024116 pos · $1.52B
Oct 11, 202413F HOLDINGS REPORTQ/E Sep 2024113 pos · $1.54B
Jul 24, 202413F HOLDINGS REPORTQ/E Jun 2024107 pos · $1.44B
Apr 24, 202413F HOLDINGS REPORTQ/E Mar 2024107 pos · $1.45B
Mar 7, 202413F HOLDINGS REPORT (Amended)Q/E Mar 2024110 pos · $1.53B
Mar 7, 202413F HOLDINGS REPORT (Amended)Q/E Mar 2024109 pos · $1.32B
Mar 7, 202413F HOLDINGS REPORT (Amended)Q/E Mar 2024110 pos · $1.53B
Oct 17, 202313F HOLDINGS REPORTQ/E Dec 2023110 pos · $1.34B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	Johnson And Johnson	JNJ	365,399	$75.6M	4.99%
2	Cisco Systems Inc	CSCO	833,033	$64.2M	4.23%
3	Microsoft Corp	MSFT	113,070	$54.7M	3.61%
4	Accenture PLC	ACN	193,768	$52.0M	3.43%
5	Chubb Ltd	CB	153,421	$47.9M	3.16%
6	Texas Instruments Inc	882508104	265,891	$46.1M	3.04%
7	Caterpillar Inc Del	CAT	79,891	$45.8M	3.02%
8	Lockheed Martin Corp	LMT	94,257	$45.6M	3.01%
9	Pfizer Inc	PFE	1,713,464	$42.7M	2.82%
10	Medtronic Inc	MDT	397,253	$38.2M	2.52%
11	Home Depot Inc	HD	107,250	$36.9M	2.44%
12	Paychex Inc	PAYX	326,672	$36.6M	2.42%
13	Wal-Mart Stores Inc	WMT	305,526	$34.0M	2.25%
14	Tractor Supply Co	TSCO	677,691	$33.9M	2.24%
15	Aflac Inc	AFL	301,094	$33.2M	2.19%
16	Merck & Company, Inc	MRK	313,718	$33.0M	2.18%
17	Hershey Co	HSY	180,544	$32.9M	2.17%
18	Pepsico Inc	PEP	228,650	$32.8M	2.17%
19	Procter & Gamble Co	742718109	210,020	$30.1M	1.99%
20	Apple Computer	AAPL	109,586	$29.8M	1.97%