SFE INVESTMENT COUNSEL

PrivateCIK: 1317784

Location

LOS ANGELES, CA

149

Positions

$741.51M

Total AUM (reported)

8.82M

Total Shares

Allocation by class

COM$544.48M73.4%

COM NEW$38.40M5.2%

CAP STK CL A$15.58M2.1%

CAP STK CL C$11.39M1.5%

COM SHS$10.22M1.4%

INVSCO 28 HYCORP$8.50M1.1%

SHS$8.35M1.1%

Portfolio Concentration

Top 3$80.16M10.8%

4–10$132.40M17.9%

11–25$191.20M25.8%

Rest$337.75M45.5%

Top 3 weight

10.8%

Top 10 weight

28.7%

Voting Authority Distribution

Total shares with voting rights: 8.82M

Sole

Full voting authority

3.17M

% of voting shares36.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

5.65M

% of voting shares64.0%

Investment Discretion (by position count)

Sole149

Shared0

Other0

Dominant voting typeNone · 64.0% of voting shares

Institutional Holdings149

Rows:

NVIDIA CORPORATION

SOLE

COM

Shares139K

TypeSH

Market value$27.81M

3.75%

Sole

51.38K

Shared

0.00

None

87.61K

PALO ALTO NETWORKS INC

SOLE

COM

Shares80.53K

TypeSH

Market value$27.46M

3.70%

Sole

30.31K

Shared

0.00

None

50.22K

APPLE INC

SOLE

COM

Shares86.02K

TypeSH

Market value$24.89M

3.36%

Sole

32.15K

Shared

0.00

None

53.87K

MICROSOFT CORP

SOLE

COM

Shares58.18K

TypeSH

Market value$21.70M

2.93%

Sole

39.70K

Shared

0.00

None

18.48K

BROADCOM INC

SOLE

COM

Shares56.95K

TypeSH

Market value$21.51M

2.90%

Sole

19.16K

Shared

0.00

None

37.78K

JPMORGAN CHASE & CO

SOLE

COM

Shares59.24K

TypeSH

Market value$19.39M

2.61%

Sole

21.88K

Shared

0.00

None

37.35K

AMAZON COM INC

SOLE

COM

Shares81.33K

TypeSH

Market value$19.38M

2.61%

Sole

36.63K

Shared

0.00

None

44.69K

ONEOK INC NEW

SOLE

COM

Shares204.61K

TypeSH

Market value$17.79M

2.40%

Sole

81.77K

Shared

0.00

None

122.84K

QUALCOMM INC

SOLE

COM

Shares92.20K

TypeSH

Market value$17.04M

2.30%

Sole

33.55K

Shared

0.00

None

58.66K

ALPHABET INC

SOLE

CAP STK CL A

Shares43.61K

TypeSH

Market value$15.58M

2.10%

Sole

22.26K

Shared

0.00

None

21.35K

NEXTERA ENERGY INC

SOLE

COM

Shares174.99K

TypeSH

Market value$15.36M

2.07%

Sole

65.65K

Shared

0.00

None

109.34K

FIRST SOLAR INC

SOLE

COM

Shares62.79K

TypeSH

Market value$14.82M

2.00%

Sole

26.52K

Shared

0.00

None

36.27K

MARVELL TECHNOLOGY INC

SOLE

COM

Shares48.89K

TypeSH

Market value$14.56M

1.96%

Sole

17.37K

Shared

0.00

None

31.51K

ADVANCED MICRO DEVICES INC

SOLE

COM

Shares23.76K

TypeSH

Market value$13.80M

1.86%

Sole

16.34K

Shared

0.00

None

7.42K

US BANCORP

SOLE

COM NEW

Shares223.30K

TypeSH

Market value$13.49M

1.82%

Sole

80.97K

Shared

0.00

None

142.33K

CUMMINS INC

SOLE

COM

Shares18.23K

TypeSH

Market value$13.01M

1.75%

Sole

Shared

0.00

None

12.24K

UNITED RENTALS INC

SOLE

COM

Shares11.27K

TypeSH

Market value$12.77M

1.72%

Sole

Shared

0.00

None

6.27K

APPLIED MATLS INC

SOLE

COM

Shares17.44K

TypeSH

Market value$12.61M

1.70%

Sole

7.79K

Shared

0.00

None

9.64K

QUANTA SVCS INC

SOLE

COM

Shares17.25K

TypeSH

Market value$12.42M

1.68%

Sole

6.04K

Shared

0.00

None

11.21K

LOWES COS INC

SOLE

COM

Shares55.73K

TypeSH

Market value$12.29M

1.66%

Sole

18.09K

Shared

0.00

None

37.64K

KLA CORP

SOLE

COM NEW

Shares40K

TypeSH

Market value$12.07M

1.63%

Sole

40K

Shared

0.00

None

0.00

IQVIA HLDGS INC

SOLE

COM

Shares59.04K

TypeSH

Market value$11.41M

1.54%

Sole

26.80K

Shared

0.00

None

32.24K

ALPHABET INC

SOLE

CAP STK CL C

Shares32.23K

TypeSH

Market value$11.39M

1.54%

Sole

10.66K

Shared

0.00

None

21.57K

INTERNATIONAL BUSINESS MACHS

SOLE

COM

Shares38.65K

TypeSH

Market value$10.87M

1.47%

Sole

13.64K

Shared

0.00

None

25.01K

COSTCO WHOLESALE CORPORATION

SOLE

COM

Shares11.07K

TypeSH

Market value$10.35M

1.40%

Sole

2.39K

Shared

0.00

None

8.68K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NVIDIA CORPORATIONSOLE	COM	139K	SH	$27.81M 3.75%	51.38K	87.61K
PALO ALTO NETWORKS INCSOLE	COM	80.53K	SH	$27.46M 3.70%	30.31K	50.22K
APPLE INCSOLE	COM	86.02K	SH	$24.89M 3.36%	32.15K	53.87K
MICROSOFT CORPSOLE	COM	58.18K	SH	$21.70M 2.93%	39.70K	18.48K
BROADCOM INCSOLE	COM	56.95K	SH	$21.51M 2.90%	19.16K	37.78K
JPMORGAN CHASE & COSOLE	COM	59.24K	SH	$19.39M 2.61%	21.88K	37.35K
AMAZON COM INCSOLE	COM	81.33K	SH	$19.38M 2.61%	36.63K	44.69K
ONEOK INC NEWSOLE	COM	204.61K	SH	$17.79M 2.40%	81.77K	122.84K
QUALCOMM INCSOLE	COM	92.20K	SH	$17.04M 2.30%	33.55K	58.66K
ALPHABET INCSOLE	CAP STK CL A	43.61K	SH	$15.58M 2.10%	22.26K	21.35K
NEXTERA ENERGY INCSOLE	COM	174.99K	SH	$15.36M 2.07%	65.65K	109.34K
FIRST SOLAR INCSOLE	COM	62.79K	SH	$14.82M 2.00%	26.52K	36.27K
MARVELL TECHNOLOGY INCSOLE	COM	48.89K	SH	$14.56M 1.96%	17.37K	31.51K
ADVANCED MICRO DEVICES INCSOLE	COM	23.76K	SH	$13.80M 1.86%	16.34K	7.42K
US BANCORPSOLE	COM NEW	223.30K	SH	$13.49M 1.82%	80.97K	142.33K
CUMMINS INCSOLE	COM	18.23K	SH	$13.01M 1.75%	6K	12.24K
UNITED RENTALS INCSOLE	COM	11.27K	SH	$12.77M 1.72%	5K	6.27K
APPLIED MATLS INCSOLE	COM	17.44K	SH	$12.61M 1.70%	7.79K	9.64K
QUANTA SVCS INCSOLE	COM	17.25K	SH	$12.42M 1.68%	6.04K	11.21K
LOWES COS INCSOLE	COM	55.73K	SH	$12.29M 1.66%	18.09K	37.64K
KLA CORPSOLE	COM NEW	40K	SH	$12.07M 1.63%	40K	0.00
IQVIA HLDGS INCSOLE	COM	59.04K	SH	$11.41M 1.54%	26.80K	32.24K
ALPHABET INCSOLE	CAP STK CL C	32.23K	SH	$11.39M 1.54%	10.66K	21.57K
INTERNATIONAL BUSINESS MACHSSOLE	COM	38.65K	SH	$10.87M 1.47%	13.64K	25.01K
COSTCO WHOLESALE CORPORATIONSOLE	COM	11.07K	SH	$10.35M 1.40%	2.39K	8.68K

Page 1 of 6

…