Top Institutional Investors

MORGAN DEMPSEY CAPITAL MANAGEMENT LLC — 13F Holdings & Portfolio

CIK 1050463 · latest 13F-HR filed 2026-08-03

Backtest portfolio

MORGAN DEMPSEY CAPITAL MANAGEMENT LLC manages $233.4M in 13F-reported U.S. long-equity assets across 122 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are BIL (4.48%), C (3.85%), CMI (3.82%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 7 new positions and exited 8; 66 existing positions rose in reported value and 23 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$233.4M

Long-equity book

Holdings
122

Distinct positions

Period
2026-06-30

Filed 2026-08-03

Q/Q Activity
+7 / −8 / ↑66 / ↓23

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
BIL4.5% · +71%C3.8% · -20%CMI3.8% · +3%ETR3.7% · +3%CSCO3.7% · -27%XOM3.6% · +3%WEC3.2% · +3%IBM3.1% · +23%JNJ3.0% · -2%PBA2.9% · +3%UPS2.9% · +27%KO2.8% · +3%GD2.8% · +3%CVX2.7% · +3%LMT2.7% · +4%WFC2.7% · +3%T2.6% · +3%OKE2.6% · +4%MRK2.5% · +3%PM2.4% · +3%MCD2.3% · +41%PEP2.3% · +44%ES2.3% · +3%VOYA2.3% · +45%DUK2.3% · +3%VZ2.2% · +3%RIO2.2% · +3%CME2.1% · +3%SO2.1% · +3%UNP2.1% · +33%MDT2.1% · +3%PRU1.9% · -8%TXN1.8% · +3%CCI1.6% · +7%SBUX1.5% · +3%PLD1.3% · newEGY0.4% · +5%FEIM0.3% · +5%UFPT0.3% · +15%DAC0.3% · +8%TATT0.2% · +29%ESP0.2% · +4%MDLV0.2% · -34%COHU0.2% · -15%PDEX0.2% · +16%AMSC0.2% · +4%BKTI0.1% · +5%UCTT0.1% · -53%HG0.1% · +5%SPSC0.1% · newNOA0.1% · +22%IVV0.1% · 0%SENEA0.1% · +1%PLAB0.1% · +175%SPY0.1% · 0%OPXS0.1% · +4%SUB0.1% · 0%RSP0.1% · 0%NULV0.1% · -7%GRW0.1% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 35.5%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 6, 2026.

Assets Under Management
$252.3M
Discretionary
$251.7M
Employees
6
Accounts
464
Address
10850 W. PARK PLACE
SUITE 470
MILWAUKEE, WI 53224
Phone
(414) 319-1080
Website
Name Title / Status Ownership Type
DION, MARC, JOSEPH ControlPRINCIPAL
since Mar 2006
Less than 5%Individual
DURHAM, DAVID, WAYNE ControlPRINCIPAL AND CHIEF COMPLIANCE OFFICER
since Jan 2010
Less than 5%Individual
MDCM HOLDINGS, LLC ControlOWNER
since Mar 2023
75% or moreDomestic Entity
DION, MARC, JOSEPH Control
Indirect owner via MDCM LEGACY, LLC
PRINCIPAL
since Mar 2023
25–50%Individual
MDCM LEGACY, LLC Control
Indirect owner via MDCM HOLDINGS, LLC
OWNER
since Mar 2023
75% or moreDomestic Entity
Ownership & leadership changes · 9 filings with changes since Mar 30, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 25, 2025 filing
  • No longer listedNGUYEN, LY, KHANH · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Sep 2022
  • ChangedDURHAM, DAVID, WAYNE · title PRINCIPAL → PRINCIPAL AND CHIEF COMPLIANCE OFFICER
Mar 24, 2023 filing
  • No longer listedISAACSON, RICHARD, ALLEN · MEMBER · 10–25% · listed since May 2020
  • No longer listedIsaacson, Dave, Allen · MEMBER · 10–25% · listed since Aug 2014
  • AddedDION, MARC, JOSEPH · PRINCIPAL · 25–50% · indirect via MDCM LEGACY, LLC · control person
  • AddedMDCM HOLDINGS, LLC · OWNER · 75% or more · control person
  • AddedMDCM LEGACY, LLC · OWNER · 75% or more · indirect via MDCM HOLDINGS, LLC · control person
  • ChangedDION, MARC, JOSEPH · title MANAGING MEMBER → PRINCIPAL; ownership 25–50% → Less than 5%
  • ChangedDURHAM, DAVID, WAYNE · title MANAGING MEMBER → PRINCIPAL; ownership 25–50% → Less than 5%
Sep 8, 2022 filing
  • AddedNGUYEN, LY, KHANH · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ChangedDURHAM, DAVID, WAYNE · title MANAGING MEMBER/ CHIEF COMPLIANCE OFFICER → MANAGING MEMBER
Jun 15, 2020 filing
  • No longer listedRAFN, BRIAN, GARY · MEMBER · 10–25% · listed since Feb 2020
  • AddedISAACSON, RICHARD, ALLEN · MEMBER · 10–25%
  • ChangedDURHAM, DAVID, WAYNE · ownership 10–25% → 25–50%
  • ChangedIsaacson, Dave, Allen · ownership 5–10% → 10–25%
Mar 25, 2020 filing
  • ChangedRAFN, BRIAN, GARY · title MANAGING MEMBER → MEMBER; no longer a control person
Mar 25, 2019 filing
  • ChangedRAFN, BRIAN, GARY · ownership 25–50% → 10–25%
Mar 27, 2017 filing
  • ChangedDURHAM, DAVID, WAYNE · ownership 25–50% → 10–25%
Jul 6, 2015 filing
  • ChangedDION, MARC, JOSEPH · title PRINCIPAL, CHIEF INVESTMENT OFFICER → MANAGING MEMBER
  • ChangedDURHAM, DAVID, WAYNE · title PRINCIPAL, CHIEF COMPLIANCE OFFICER → MANAGING MEMBER/ CHIEF COMPLIANCE OFFICER
  • ChangedIsaacson, Dave, Allen · title PASSIVE OUTSIDE OWNER → MEMBER
  • ChangedRAFN, BRIAN, GARY · title PRINCIPAL, DIRECTOR OF REASEARCH → MANAGING MEMBER
Mar 31, 2015 filing
  • AddedIsaacson, Dave, Allen · PASSIVE OUTSIDE OWNER · 5–10%
Mar 30, 2012 filing (earliest on record)
  • ListedDION, MARC, JOSEPH · PRINCIPAL, CHIEF INVESTMENT OFFICER · 25–50% · control person
  • ListedDURHAM, DAVID, WAYNE · PRINCIPAL, CHIEF COMPLIANCE OFFICER · 25–50% · control person
  • ListedRAFN, BRIAN, GARY · PRINCIPAL, DIRECTOR OF REASEARCH · 25–50% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

MORGAN DEMPSEY CAPITAL MANAGEMENT LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 STATE STREET SPDR BLMBG1-3MTHT-BILLETF BIL 78468R663 $10.5M 4.48% 114,108 SH
2 CITIGROUP INC C 172967424 $9.0M 3.85% 64,124 SH
3 CUMMINS INC CMI 231021106 $8.9M 3.82% 12,509 SH
4 ENTERGY CORP NEW ETR 29364G103 $8.7M 3.71% 75,458 SH
5 CISCO SYS INC CSCO 17275R102 $8.6M 3.69% 73,393 SH
6 EXXON MOBIL CORP XOM 30231G102 $8.4M 3.61% 61,676 SH
7 WEC ENERGY GROUP INC WEC 92939U106 $7.5M 3.23% 64,642 SH
8 INTERNATIONAL BUSINESS MACHS IBM 459200101 $7.3M 3.13% 25,939 SH
9 JOHNSON & JOHNSON JNJ 478160104 $7.1M 3.03% 27,812 SH
10 PEMBINA PIPELINE CORP PBA 706327103 $6.9M 2.94% 148,296 SH
11 UNITED PARCEL SVCS INC UPS 911312106 $6.8M 2.89% 62,845 SH
12 COCA COLA CO KO 191216100 $6.6M 2.84% 81,153 SH
13 GENERAL DYNAMICS CORP GD 369550108 $6.5M 2.81% 18,483 SH
14 CHEVRON CORPORATION CVX 166764100 $6.4M 2.74% 38,597 SH
15 LOCKHEED MARTIN CORP LMT 539830109 $6.2M 2.66% 12,207 SH
16 WELLS FARGO & CO WFC 949746101 $6.2M 2.66% 75,035 SH
17 AT&T INC T 00206R102 $6.1M 2.61% 294,433 SH
18 ONEOK INC NEW OKE 682680103 $6.1M 2.59% 69,634 SH
19 MERCK & CO INC MRK 58933Y105 $5.8M 2.47% 44,625 SH
20 PHILIP MORRIS INTL INC PM 718172109 $5.5M 2.36% 30,150 SH
21 MCDONALDS CORP MCD 580135101 $5.5M 2.34% 20,199 SH
22 PEPSICO INC PEP 713448108 $5.4M 2.32% 39,911 SH
23 EVERSOURCE ENERGY ES 30040W108 $5.3M 2.29% 73,953 SH
24 VOYA FINANCIAL INC VOYA 929089100 $5.3M 2.26% 58,384 SH
25 DUKE ENERGY CORP NEW DUK 26441C204 $5.3M 2.25% 41,552 SH
26 VERIZON COMMUNICATIONS INC VZ 92343V104 $5.2M 2.21% 121,911 SH
27 RIO TINTO PLC RIO 767204100 $5.1M 2.18% 53,677 SH
28 CME GROUP INC CME 12572Q105 $5.0M 2.15% 22,695 SH
29 SOUTHERN CO SO 842587107 $5.0M 2.14% 52,236 SH
30 UNION PAC CORP UNP 907818108 $4.9M 2.08% 17,834 SH
31 MEDTRONIC PLC MDT G5960L103 $4.8M 2.08% 61,417 SH
32 PRUDENTIAL FINL INC PRU 744320102 $4.5M 1.91% 41,326 SH
33 TEXAS INSTRS INC TXN 882508104 $4.3M 1.82% 14,267 SH
34 CROWN CASTLE INC CCI 22822V101 $3.8M 1.65% 50,708 SH
35 STARBUCKS CORP SBUX 855244109 $3.5M 1.49% 34,039 SH
36 PROLOGIS INC. PLD 74340W103 $3.0M 1.29% 22,297 SH
37 VAALCO ENERGY INC EGY 91851C201 $975.8K 0.42% 192,094 SH
38 FREQUENCY ELECTRS INC FEIM 358010106 $761.9K 0.33% 11,484 SH
39 UFP TECHNOLOGIES INC UFPT 902673102 $755.9K 0.32% 2,851 SH
40 DANAOS CORPORATION DAC Y1968P121 $700.4K 0.30% 5,675 SH
41 TAT TECHNOLOGIES LTD TATT M8740S227 $570.8K 0.24% 12,091 SH
42 ESPEY MFG & ELECTRS CORP ESP 296650104 $567.7K 0.24% 8,387 SH
43 MORGAN DEMPSEY LARGE CAP VALUE ETF MDLV 02072L482 $553.4K 0.24% 18,021 SH
44 COHU INC COHU 192576106 $478.8K 0.21% 6,478 SH
45 PRO-DEX INC COLO PDEX 74265M205 $393.7K 0.17% 6,716 SH
46 AMERICAN SUPERCONDUCTOR CORP AMSC 030111207 $366.1K 0.16% 8,819 SH
47 BK TECHNOLOGIES CORPORATION BKTI 05587G203 $347.1K 0.15% 4,037 SH
48 ULTRA CLEAN HLDGS INC UCTT 90385V107 $343.9K 0.15% 2,412 SH
49 HAMILTON INSURANCE GROUP LTD HG G42706104 $323.8K 0.14% 9,541 SH
50 SPS COMM INC SPSC 78463M107 $315.3K 0.14% 5,515 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-03 $233.4M 122 0001941040-26-000498
2026-03-31 2026-05-06 $219.8M 148 0001941040-26-000296
2025-12-31 2026-02-13 $205.6M 150 0001941040-26-000137
Filer Information
Address
10850 W. PARK PLACE
SUITE 470
MILWAUKEE, WI 53224
Phone
(414) 319-1080
Filing Manager
MORGAN DEMPSEY CAPITAL MANAGEMENT LLC
MILWAUKEE, WI
Signatory
David Durham
Principal