# EDGAR Filing Document

**Accession Number:** 0002055178
**File Stem:** 0002055178-25-000002
**Filing Date:** 2025-10
**Character Count:** 15824
**Document Hash:** 02a6d180ad2e5b714a2af282636beb37
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002055178-25-000002.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0002055178-25-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251021

**EFFECTIVENESS DATE**: 20251021

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sage Investment Counsel LLC
- **CENTRAL INDEX KEY:** 0002055178

**ORGANIZATION NAME:**
- **EIN:** 621673402
- **STATE OF INCORPORATION:** TN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24769
- **FILM NUMBER:** 251405988

**BUSINESS ADDRESS:**
- **STREET 1:** 142 5TH AVENUE NORTH
- **STREET 2:** SUITE A
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37064
- **BUSINESS PHONE:** 615-591-1210

**MAIL ADDRESS:**
- **STREET 1:** 142 5TH AVENUE NORTH
- **STREET 2:** SUITE A
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37064

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Sage Investment Counsel LLC<br>**Address:** 142 5th Avenue North<br>Suite A<br>Franklin, TN 37064

**Form 13F File Number:** 028-24769

**CRD Number (if applicable):** 000116907

**SEC File Number (if applicable):** 801-121406

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jackson Calvin<br>**Title:** Partner<br>**Phone:** 615-591-1210

**Signature, Place, and Date of Signing:**

/s/ Jackson Calvin  Franklin, TN  10-21-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 123

**Form 13F Information Table Value Total:** $90275970

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AGREE RLTY CORP | COM | 008492100 |  | 363803 | 5121 | SH |  | SOLE |  | 0 | 0 | 5121 |
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 |  | 310623 | 3727 | SH |  | SOLE |  | 0 | 0 | 3727 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 628057 | 3514 | SH |  | SOLE |  | 0 | 0 | 3514 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 286984 | 1181 | SH |  | SOLE |  | 0 | 0 | 1181 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 226770 | 931 | SH |  | SOLE |  | 0 | 0 | 931 |
| AMAZON COM INC | COM | 023135106 |  | 1248036 | 5684 | SH |  | SOLE |  | 0 | 0 | 5684 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 369065 | 165500 | SH |  | SOLE |  | 0 | 0 | 165500 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 392347 | 2944 | SH |  | SOLE |  | 0 | 0 | 2944 |
| APPLE INC | COM | 037833100 |  | 4976311 | 19543 | SH |  | SOLE |  | 0 | 0 | 19543 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 233088 | 11420 | SH |  | SOLE |  | 0 | 0 | 11420 |
| ARMADA HOFFLER PPTYS INC | COM | 04208T108 |  | 124778 | 17800 | SH |  | SOLE |  | 0 | 0 | 17800 |
| AUNA S A | CLASS A | L0415A103 |  | 67200 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| AUTOZONE INC | COM | 053332102 |  | 879499 | 205 | SH |  | SOLE |  | 0 | 0 | 205 |
| BANK AMERICA CORP | COM | 060505104 |  | 1562128 | 30280 | SH |  | SOLE |  | 0 | 0 | 30280 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 3016800 | 4 | SH |  | SOLE |  | 0 | 0 | 4 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2448344 | 4870 | SH |  | SOLE |  | 0 | 0 | 4870 |
| BLACKROCK HEALTH SCIENCES TR | COM | 09250W107 |  | 201042 | 5400 | SH |  | SOLE |  | 0 | 0 | 5400 |
| BLACKSTONE INC | COM | 09260D107 |  | 207373 | 1214 | SH |  | SOLE |  | 0 | 0 | 1214 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 443095 | 16996 | SH |  | SOLE |  | 0 | 0 | 16996 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 208855 | 16355 | SH |  | SOLE |  | 0 | 0 | 16355 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 212320 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| BROADCOM INC | COM | 11135F101 |  | 326611 | 990 | SH |  | SOLE |  | 0 | 0 | 990 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 2465382 | 35949 | SH |  | SOLE |  | 0 | 0 | 35949 |
| BROOKFIELD INFRAST PARTNERS | LP INT UNIT | G16252101 |  | 1243341 | 37803 | SH |  | SOLE |  | 0 | 0 | 37803 |
| BROOKFIELD RENEWABLE PARTNER | PARTNERSHIP UNIT | G16258108 |  | 565446 | 21925 | SH |  | SOLE |  | 0 | 0 | 21925 |
| BURFORD CAP LTD | ORD SHS | G17977110 |  | 382720 | 32000 | SH |  | SOLE |  | 0 | 0 | 32000 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 441048 | 13800 | SH |  | SOLE |  | 0 | 0 | 13800 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 599998 | 2822 | SH |  | SOLE |  | 0 | 0 | 2822 |
| CATERPILLAR INC | COM | 149123101 |  | 983082 | 2060 | SH |  | SOLE |  | 0 | 0 | 2060 |
| CHEVRON CORP NEW | COM | 166764100 |  | 217984 | 1404 | SH |  | SOLE |  | 0 | 0 | 1404 |
| CHUBB LIMITED | COM | H1467J104 |  | 1483632 | 5256 | SH |  | SOLE |  | 0 | 0 | 5256 |
| CISCO SYS INC | COM | 17275R102 |  | 403214 | 5893 | SH |  | SOLE |  | 0 | 0 | 5893 |
| COCA-COLA FEMSA SAB DE CV | SPONS ADS REP | 191241108 |  | 290850 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 785820 | 5835 | SH |  | SOLE |  | 0 | 0 | 5835 |
| CORPORACION AMER ARPTS S A | COM | L1995B107 |  | 224688 | 12400 | SH |  | SOLE |  | 0 | 0 | 12400 |
| CTO RLTY GROWTH INC NEW | COM | 22948Q101 |  | 223310 | 13700 | SH |  | SOLE |  | 0 | 0 | 13700 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 212832 | 392 | SH |  | SOLE |  | 0 | 0 | 392 |
| DAVITA INC | COM | 23918K108 |  | 551676 | 4152 | SH |  | SOLE |  | 0 | 0 | 4152 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 334005 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| DISNEY WALT CO | COM | 254687106 |  | 306975 | 2681 | SH |  | SOLE |  | 0 | 0 | 2681 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 1409736 | 13640 | SH |  | SOLE |  | 0 | 0 | 13640 |
| ECOLAB INC | COM | 278865100 |  | 213611 | 780 | SH |  | SOLE |  | 0 | 0 | 780 |
| ECOPETROL S A | SPONSORED ADS | 279158109 |  | 105915 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| ENBRIDGE INC | COM | 29250N105 |  | 1350663 | 26767 | SH |  | SOLE |  | 0 | 0 | 26767 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 2317890 | 135075 | SH |  | SOLE |  | 0 | 0 | 135075 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 822536 | 26304 | SH |  | SOLE |  | 0 | 0 | 26304 |
| ETF SER SOLUTIONS | HOYA CAPT HI DIV | 26922B840 |  | 404882 | 42032 | SH |  | SOLE |  | 0 | 0 | 42032 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 903886 | 8017 | SH |  | SOLE |  | 0 | 0 | 8017 |
| FEDEX CORP | COM | 31428X106 |  | 365506 | 1550 | SH |  | SOLE |  | 0 | 0 | 1550 |
| FIDUS INVT CORP | COM | 316500107 |  | 244540 | 12070 | SH |  | SOLE |  | 0 | 0 | 12070 |
| FLAGSTAR FINANCIAL INC | COM NEW | 649445400 |  | 767984 | 66492 | SH |  | SOLE |  | 0 | 0 | 66492 |
| FORD MTR CO | COM | 345370860 |  | 119600 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 325526 | 8300 | SH |  | SOLE |  | 0 | 0 | 8300 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 |  | 65400 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| GRUPO AEROPORTUARIO DEL CENT | SPON ADR | 400501102 |  | 727090 | 7000 | SH |  | SOLE |  | 0 | 0 | 7000 |
| GRUPO AEROPUERTO DEL PACIFIC | SPON ADS B | 400506101 |  | 649901 | 2740 | SH |  | SOLE |  | 0 | 0 | 2740 |
| GRUPO AVAL ACCIONES Y VALORE | SPONSORED ADS | 40053W101 |  | 112200 | 34000 | SH |  | SOLE |  | 0 | 0 | 34000 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 226907 | 532 | SH |  | SOLE |  | 0 | 0 | 532 |
| HEALTHCARE RLTY TR | CL A COM | 42226K105 |  | 463272 | 25695 | SH |  | SOLE |  | 0 | 0 | 25695 |
| HERTZ GLOBAL HLDGS INC | COM NEW | 42806J700 |  | 539988 | 79410 | SH |  | SOLE |  | 0 | 0 | 79410 |
| HOME DEPOT INC | COM | 437076102 |  | 751222 | 1854 | SH |  | SOLE |  | 0 | 0 | 1854 |
| HOWARD HUGHES HOLDINGS INC | COM | 44267T102 |  | 2087611 | 25406 | SH |  | SOLE |  | 0 | 0 | 25406 |
| INVESCO EXCHANGE TRADED FD T | S QUALITY | 46137V241 |  | 1514687 | 20667 | SH |  | SOLE |  | 0 | 0 | 20667 |
| ISHARES INC | MSCI EQUAL WEITE | 464286681 |  | 1067001 | 10362 | SH |  | SOLE |  | 0 | 0 | 10362 |
| JANUS HENDERSON GROUP PLC | ORD SHS | G4474Y214 |  | 1045673 | 23493 | SH |  | SOLE |  | 0 | 0 | 23493 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1716570 | 5442 | SH |  | SOLE |  | 0 | 0 | 5442 |
| LADDER CAP CORP | CL A | 505743104 |  | 283095 | 25948 | SH |  | SOLE |  | 0 | 0 | 25948 |
| LANDS END INC NEW | COM | 51509F105 |  | 269874 | 19140 | SH |  | SOLE |  | 0 | 0 | 19140 |
| LENNAR CORP | CL A | 526057104 |  | 1716413 | 13618 | SH |  | SOLE |  | 0 | 0 | 13618 |
| LITHIUM AMERS CORP NEW | COM SHS | 53681J103 |  | 57100 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| LITHIUM ARGENTINA AG | COM SHS | H5012F103 |  | 38410 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| LLOYDS BANKING GROUP PLC | SPONSORED ADR | 539439109 |  | 127120 | 28000 | SH |  | SOLE |  | 0 | 0 | 28000 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 287046 | 575 | SH |  | SOLE |  | 0 | 0 | 575 |
| LOWES COS INC | COM | 548661107 |  | 472562 | 1880 | SH |  | SOLE |  | 0 | 0 | 1880 |
| M  T BK CORP | COM | 55261F104 |  | 363056 | 1837 | SH |  | SOLE |  | 0 | 0 | 1837 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 361330 | 635 | SH |  | SOLE |  | 0 | 0 | 635 |
| META PLATFORMS INC | CL A | 30303M102 |  | 547513 | 746 | SH |  | SOLE |  | 0 | 0 | 746 |
| MICROSOFT CORP | COM | 594918104 |  | 1698761 | 3280 | SH |  | SOLE |  | 0 | 0 | 3280 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 176110 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| NUTRIEN LTD | COM | 67077M108 |  | 211356 | 3600 | SH |  | SOLE |  | 0 | 0 | 3600 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 314234 | 1684 | SH |  | SOLE |  | 0 | 0 | 1684 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 568040 | 12022 | SH |  | SOLE |  | 0 | 0 | 12022 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 694684 | 12304 | SH |  | SOLE |  | 0 | 0 | 12304 |
| PENNANTPARK INVT CORP | COM | 708062104 |  | 114070 | 17000 | SH |  | SOLE |  | 0 | 0 | 17000 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 7061784 | 75294 | SH |  | SOLE |  | 0 | 0 | 75294 |
| REALTY INCOME CORP | COM | 756109104 |  | 999225 | 16437 | SH |  | SOLE |  | 0 | 0 | 16437 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 328209 | 12446 | SH |  | SOLE |  | 0 | 0 | 12446 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 |  | 577473 | 50700 | SH |  | SOLE |  | 0 | 0 | 50700 |
| RTX CORPORATION | COM | 75513E101 |  | 629241 | 3760 | SH |  | SOLE |  | 0 | 0 | 3760 |
| RYANAIR HOLDINGS PLC | SPONSORED ADR | 783513203 |  | 1431670 | 23774 | SH |  | SOLE |  | 0 | 0 | 23774 |
| SAFE BULKERS INC | COM | Y7388L103 |  | 111000 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| SAFEHOLD INC | COM | 78646V107 |  | 221507 | 14300 | SH |  | SOLE |  | 0 | 0 | 14300 |
| SCHWAB STRATEGIC TR | INTERNL DIVID | 808524672 |  | 207050 | 7411 | SH |  | SOLE |  | 0 | 0 | 7411 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 329802 | 12081 | SH |  | SOLE |  | 0 | 0 | 12081 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 274190 | 8593 | SH |  | SOLE |  | 0 | 0 | 8593 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 827050 | 35534 | SH |  | SOLE |  | 0 | 0 | 35534 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 566407 | 24777 | SH |  | SOLE |  | 0 | 0 | 24777 |
| SMARTRENT INC | COM CL A | 83193G107 |  | 21150 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| ST JOE CO | COM | 790148100 |  | 257296 | 5200 | SH |  | SOLE |  | 0 | 0 | 5200 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 351204 | 8400 | SH |  | SOLE |  | 0 | 0 | 8400 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 1547601 | 9451 | SH |  | SOLE |  | 0 | 0 | 9451 |
| TFS FINL CORP | COM | 87240R107 |  | 1538027 | 116738 | SH |  | SOLE |  | 0 | 0 | 116738 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 320206 | 7004 | SH |  | SOLE |  | 0 | 0 | 7004 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1854278 | 18927 | SH |  | SOLE |  | 0 | 0 | 18927 |
| UNION PAC CORP | COM | 907818108 |  | 311536 | 1318 | SH |  | SOLE |  | 0 | 0 | 1318 |
| URANIUM RTY CORP | COM | 91702V101 |  | 107070 | 24900 | SH |  | SOLE |  | 0 | 0 | 24900 |
| US BANCORP DEL | COM NEW | 902973304 |  | 582154 | 12045 | SH |  | SOLE |  | 0 | 0 | 12045 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 624780 | 6834 | SH |  | SOLE |  | 0 | 0 | 6834 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1063091 | 1736 | SH |  | SOLE |  | 0 | 0 | 1736 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 601595 | 2882 | SH |  | SOLE |  | 0 | 0 | 2882 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1208788 | 3683 | SH |  | SOLE |  | 0 | 0 | 3683 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 329222 | 1765 | SH |  | SOLE |  | 0 | 0 | 1765 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 450929 | 8323 | SH |  | SOLE |  | 0 | 0 | 8323 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 1427283 | 10358 | SH |  | SOLE |  | 0 | 0 | 10358 |
| VANGUARD MUN BD FDS | LONG TERM TAX EX | 922907688 |  | 308550 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 453773 | 5395 | SH |  | SOLE |  | 0 | 0 | 5395 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 725251 | 9340 | SH |  | SOLE |  | 0 | 0 | 9340 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 528352 | 7192 | SH |  | SOLE |  | 0 | 0 | 7192 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 280181 | 6375 | SH |  | SOLE |  | 0 | 0 | 6375 |
| VICI PPTYS INC | COM | 925652109 |  | 353710 | 10847 | SH |  | SOLE |  | 0 | 0 | 10847 |
| VISA INC | COM CL A | 92826C839 |  | 1752354 | 5133 | SH |  | SOLE |  | 0 | 0 | 5133 |
| WALMART INC | COM | 931142103 |  | 308974 | 2998 | SH |  | SOLE |  | 0 | 0 | 2998 |
| WHITE MTNS INS GROUP LTD | COM | G9618E107 |  | 334304 | 200 | SH |  | SOLE |  | 0 | 0 | 200 |

---