Institutional Manager · CIK 0001321993

GRIMES & COMPANY, INC.

WESTBOROUGH, MA · File #028-11551

Latest AUM

$4.19B

Positions

552

Top-10 Concentration

59.4%

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
ADD	APPLE INC	AAPL	+415,667	+$113.0M	+$11,147
ADD	SELECT SECTOR SPDR TR	81369Y803	+543,303	+$78.2M	-$75.7M
REDUCE	ALPHABET INC	GOOG	-160,562	-$50.3M	+$11.3M
ADD	SELECT SECTOR SPDR TR	81369Y209	+238,562	+$36.9M	+$2.5M
REDUCE	SELECT SECTOR SPDR TR	81369Y308	-372,954	-$29.0M	-$257,425
REDUCE	JOHNSON & JOHNSON	JNJ	-117,402	-$24.3M	+$2.5M
ADD	SELECT SECTOR SPDR TR	81369Y852	+183,040	+$21.5M	-$229,625
EXITED	SELECT SECTOR SPDR TR	81369Y100	-228,638	-$20.5M	$0
NEW	ISHARES TR	46436E718	+190,372	+$19.1M	$0
ADD	PFIZER INC	PFE	+684,303	+$17.0M	-$61,092

Sector Allocation

11.2%$467.2M

4.5%$188.4M

4.0%$166.6M

2.3%$94.2M

Consumer Discretionary

1.7%$71.4M

Energy

1.4%$59.3M

Consumer Staples

1.1%$46.5M

Communication Services

1.0%$41.8M

Utilities

0.1%$5.4M

Materials

0.1%$3.7M

Real Estate

0.1%$2.4M

Filing History

Feb 3, 202613F HOLDINGS REPORTQ/E Dec 2025552 pos · $4.19B
Oct 27, 202513F HOLDINGS REPORTQ/E Sep 2025517 pos · $4.05B
Jul 22, 202513F HOLDINGS REPORTQ/E Jun 2025476 pos · $3.67B
Apr 17, 202513F HOLDINGS REPORTQ/E Mar 2025430 pos · $3.23B
Jan 21, 202513F HOLDINGS REPORTQ/E Dec 2024448 pos · $3.47B
Oct 22, 202413F HOLDINGS REPORTQ/E Sep 2024429 pos · $3.70B
Jul 22, 202413F HOLDINGS REPORTQ/E Jun 2024404 pos · $3.34B
Apr 17, 202413F HOLDINGS REPORTQ/E Mar 2024400 pos · $3.25B
Oct 19, 202313F HOLDINGS REPORTQ/E Dec 2023357 pos · $2.59B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	46432F842	3,575,462	$319.9M	10.17%
2	VANGUARD INDEX FDS	922908751	1,109,587	$286.2M	9.10%
3	ISHARES TR	464287200	256,954	$176.0M	5.60%
4	SPDR SERIES TRUST	78468R408	6,868,188	$173.9M	5.53%
5	ISHARES TR	46435U853	4,609,568	$172.4M	5.48%
6	SPDR SERIES TRUST	78468R606	7,246,584	$171.5M	5.45%
7	ISHARES INC	46434G103	2,545,417	$171.1M	5.44%
8	SELECT SECTOR SPDR TR	81369Y803	1,092,203	$157.2M	5.00%
9	JOHN HANCOCK EXCHANGE TRADED	47804J107	1,583,127	$126.4M	4.02%
10	APPLE INC	AAPL	416,314	$113.2M	3.60%
11	MICROSOFT CORP	MSFT	172,007	$83.2M	2.64%
12	SELECT SECTOR SPDR TR	81369Y852	536,198	$63.1M	2.01%
13	SELECT SECTOR SPDR TR	81369Y209	399,881	$61.9M	1.97%
14	VANGUARD INDEX FDS	922908736	118,818	$58.0M	1.84%
15	SPDR SERIES TRUST	78464A284	2,142,746	$53.4M	1.70%
16	J P MORGAN EXCHANGE TRADED F	46641Q654	1,018,379	$51.9M	1.65%
17	NVIDIA CORPORATION	NVDA	253,234	$47.2M	1.50%
18	ALPHABET INC	GOOG	149,553	$46.8M	1.49%
19	TAIWAN SEMICONDUCTOR MFG LTD	874039100	144,378	$43.9M	1.39%
20	INVESCO EXCHANGE TRADED FD T	IVZ	773,857	$36.3M	1.15%