Clifford Swan Investment Counsel LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 17, 2024), Clifford Swan Investment Counsel LLC reported 306 stock positions worth $2.7 billion. Its top holding was Microsoft (MSFT) at 4.9% of the portfolio, followed by United Parcel Service Class B (UPS, 4.8%) and Apple (AAPL, 4.6%). Compared with Q4 2023, it opened 12 new positions, sold out of 4, added to 43 and reduced 158. The biggest buy was Corteva (CTVA, shares +1%) and the biggest sale Apple (AAPL, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- PASADENA, CA
- CIK
- 0001034642
- Portfolio Value
- $2.7B (Q1 2024)
- SEC Filing
- 0001034642-24-000002 ↗ filed Apr 17, 2024
Holdings Value
Holdings 306 stocks · $2.7B
| MSFT Microsoft Corp. | 4.88% | 312,178 | $131.3M | Reduce -4.4% |
| UPS United Parcel Service Class B | 4.78% | 865,033 | $128.6M | Reduce -0.8% |
| AAPL Apple Inc. | 4.65% | 728,561 | $125.0M | Reduce -4.3% |
| COST Costco Wholesale Corp. | 3.17% | 116,506 | $85.4M | Reduce -5.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.93% | 187,173 | $78.7M | Reduce -4.1% |
| GOOGL Alphabet Inc. Class A | 2.41% | 430,395 | $65.0M | Reduce -3.1% |
| ACN Accenture PLC Class A | 2.19% | 170,378 | $59.1M | Reduce -3.2% |
| LOW Lowe's Cos Inc. | 2.01% | 212,467 | $54.1M | Reduce -1.4% |
| CVX Chevron Corp. | 1.93% | 329,304 | $51.9M | Reduce -1.4% |
| ANET Arista Networks Inc. | 1.89% | 175,365 | $50.9M | Reduce -7.7% |
| JPM JPMorgan Chase & Co. | 1.57% | 210,579 | $42.2M | Reduce -3.4% |
| JNJ Johnson & Johnson | 1.47% | 250,612 | $39.6M | Reduce -1.9% |
| XOM Exxon Mobil Corp. | 1.39% | 320,886 | $37.3M | Reduce -2.8% |
| TSCO Tractor Supply Company | 1.34% | 137,610 | $36.0M | Reduce -2.9% |
| WFC Wells Fargo & Co. | 1.31% | 609,053 | $35.3M | Reduce -2.6% |
| ORCL Oracle Corp. | 1.28% | 275,123 | $34.5M | Reduce -5.5% |
| EMR Emerson Electric Co. | 1.28% | 303,465 | $34.4M | Reduce -3.1% |
| FAST Fastenal Co. | 1.27% | 443,886 | $34.2M | Reduce -4.8% |
| QCOM Qualcomm Inc. | 1.22% | 194,577 | $32.9M | Reduce -4.4% |
| AMZN Amazon.com Inc. | 1.18% | 176,560 | $31.8M | Reduce -0.4% |
| ALSN Allison Transmission Holding | 1.16% | 384,132 | $31.2M | Reduce -4.0% |
| SYK Stryker Corp. | 1.14% | 85,989 | $30.8M | Reduce -4.7% |
| INTC Intel Corp. | 1.12% | 684,108 | $30.2M | Reduce -4.7% |
| ABBV Abbvie Inc. | 1.11% | 163,461 | $29.8M | Reduce -5.0% |
| INTU Intuit Inc. | 1.09% | 45,275 | $29.4M | Reduce -1.6% |
| AXP American Express Co. | 0.99% | 117,577 | $26.8M | Reduce -2.9% |
| CTVA Corteva Inc. | 0.99% | 459,773 | $26.5M | Add +1.4% |
| PG The Procter & Gamble Co. | 0.95% | 157,936 | $25.6M | Reduce -4.9% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.95% | 199,370 | $25.6M | Reduce -5.2% |
| ABT Abbott Laboratories | 0.94% | 223,195 | $25.4M | Reduce -3.6% |
| MCD McDonald's Corp. | 0.94% | 89,844 | $25.3M | Reduce -1.4% |
| GOOG Alphabet Inc. Class C | 0.91% | 160,569 | $24.4M | Reduce -0.3% |
| HPQ HP Inc. | 0.89% | 789,101 | $23.8M | Reduce -0.6% |
| UNH Unitedhealth Group Inc. | 0.88% | 47,940 | $23.7M | Add +8.0% |
| MCK McKesson Corp. | 0.87% | 43,621 | $23.4M | Reduce -3.3% |
| EW Edwards Lifesciences Corp. | 0.85% | 240,002 | $22.9M | Reduce -5.2% |
| BMY Bristol-Myers Squibb Co. | 0.85% | 421,128 | $22.8M | Reduce -0.6% |
| DD Dupont DE Nemours Inc. | 0.83% | 292,064 | $22.4M | Reduce -6.0% |
| A Agilent Technologies Inc. | 0.82% | 151,918 | $22.1M | Reduce -0.3% |
| RTX RTX Corp. | 0.81% | 224,456 | $21.9M | Add +0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.75% | 165,556 | $20.3M | Reduce -2.8% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.75% | 366,933 | $20.1M | Reduce -1.3% |
| JCI Johnson Controls Internation | 0.75% | 307,360 | $20.1M | Add +4.8% |
| CSCO Cisco Systems Inc. | 0.74% | 401,327 | $20.0M | Reduce -2.2% |
| NKE Nike Inc. Class B | 0.73% | 207,677 | $19.5M | Reduce -2.1% |
| PEP Pepsico Inc. | 0.72% | 110,164 | $19.3M | Reduce -3.3% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.69% | 215,958 | $18.6M | Add +0.1% |
| KMX Carmax Inc. | 0.67% | 207,898 | $18.1M | Add +0.0% |
| LH Laboratory CRP of Amer Hldgs | 0.67% | 82,435 | $18.0M | Add +1.3% |
| GLD SPDR Gold Shares | 0.67% | 87,214 | $17.9M | Add +13.8% |
| META Meta Platforms Inc. Class A | 0.65% | 35,877 | $17.4M | Reduce -7.2% |
| BKNG Booking Holdings Inc. | 0.65% | 4,795 | $17.4M | Reduce -4.2% |
| CL Colgate-Palmolive Co. | 0.64% | 191,751 | $17.3M | Reduce -4.3% |
| HPE Hewlett Packard Enterprise | 0.63% | 958,473 | $17.0M | Reduce -0.4% |
| PYPL PayPal Holdings Inc. | 0.58% | 233,749 | $15.7M | Reduce -3.4% |
| ALB Albemarle Corp. | 0.56% | 114,254 | $15.1M | Add +12.8% |
| PH Parker Hannifin Corp. | 0.55% | 26,691 | $14.8M | No change |
| SBUX Starbucks Corp. | 0.55% | 161,579 | $14.8M | Add +5.1% |
| CAT Caterpillar Inc. | 0.55% | 40,166 | $14.7M | Reduce -5.0% |
| PFE Pfizer Inc. | 0.53% | 516,855 | $14.3M | Add +23.9% |
| MDLZ Mondelez International Inc. Class A | 0.53% | 202,356 | $14.2M | Reduce -1.5% |
| HD Home Depot Inc. | 0.52% | 36,442 | $14.0M | Reduce -3.1% |
| UNP Union Pacific Corp. | 0.52% | 56,447 | $13.9M | Reduce -4.9% |
| SYY Sysco Corp. | 0.51% | 170,355 | $13.8M | Reduce -4.1% |
| KEYS Keysight Technologies Inc. | 0.50% | 86,057 | $13.5M | Reduce -0.2% |
| ENTG Entegris Inc. | 0.49% | 94,105 | $13.2M | Reduce -2.8% |
| COP Conocophillips | 0.47% | 99,720 | $12.7M | Reduce -4.4% |
| LMBS First Trust Low Duration Opp | 0.46% | 256,309 | $12.4M | Add +5.5% |
| ADP Automatic Data Processing | 0.46% | 49,136 | $12.3M | Reduce -5.9% |
| HON Honeywell International Inc. | 0.43% | 56,543 | $11.6M | Reduce -0.2% |
| AMGN Amgen Inc. | 0.42% | 39,722 | $11.3M | Reduce -1.0% |
| MRK Merck & Co. Inc. | 0.39% | 79,499 | $10.5M | Reduce -4.5% |
| EBAY eBay Inc. | 0.39% | 197,181 | $10.4M | Add +5.8% |
| WMT Walmart Inc. | 0.38% | 170,428 | $10.3M | Reduce -5.4% |
| PM Philip Morris International | 0.38% | 110,550 | $10.1M | Reduce -3.1% |
| VZ Verizon Communications Inc. | 0.36% | 233,442 | $9.8M | Reduce -4.3% |
| NOC Northrop Grumman Corp. | 0.35% | 19,821 | $9.5M | Add +0.5% |
| ITW Illinois Tool Works | 0.35% | 35,184 | $9.4M | Reduce -4.7% |
| BA The Boeing Co. | 0.35% | 48,575 | $9.4M | Reduce -8.4% |
| J Jacobs Solutions Inc. | 0.34% | 59,427 | $9.1M | Reduce -5.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.33% | 16,806 | $8.8M | Add +8.7% |
| BP BP PLC-Spons ADR | 0.32% | 230,509 | $8.7M | Reduce -2.5% |
| NVS Novartis AG-Sponsored ADR | 0.32% | 88,402 | $8.6M | Reduce -4.2% |
| CAG Conagra Brands Inc. | 0.31% | 285,592 | $8.5M | Reduce -4.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.31% | 43,766 | $8.4M | Reduce -5.1% |
| TGT Target Corp. | 0.30% | 46,123 | $8.2M | Reduce -4.3% |
| MMM 3M Co. | 0.30% | 76,049 | $8.1M | Add +10.9% |
| IJR iShares Core S&P Small-Cap E | 0.30% | 72,699 | $8.0M | Add +4.3% |
| VOO Vanguard S&P 500 ETF | 0.30% | 16,684 | $8.0M | Add +1.7% |
| PSA Public Storage | 0.29% | 26,666 | $7.7M | No change |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.29% | 133,239 | $7.7M | Reduce -6.1% |
| XLK SS Technology Select Sector | 0.28% | 36,635 | $7.6M | No change |
| TXN Texas Instruments Inc. | 0.24% | 37,526 | $6.5M | Reduce -13.0% |
| GIS General Mills Inc. | 0.24% | 91,439 | $6.4M | No change |
| GE General Electric | 0.23% | 35,592 | $6.2M | Reduce -5.2% |
| AKAM Akamai Technologies Inc. | 0.23% | 57,431 | $6.2M | Reduce -3.4% |
| LMT Lockheed Martin Corp. | 0.22% | 13,252 | $6.0M | Add +1.5% |
| OXY Occidental Petroleum Corp. | 0.22% | 92,520 | $6.0M | Reduce -1.8% |
| ENR Energizer Holdings Inc. | 0.22% | 203,006 | $6.0M | No change |
| GS Goldman Sachs Group Inc. | 0.22% | 14,164 | $5.9M | Reduce -8.0% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $900K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 20,881 | $900K | No change |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q4 2023 → Q1 2024
| AAPL Apple Inc. | Reduce -4.3% | 4.65% | −1.05 |
| UPS United Parcel Service Class B | Reduce -0.8% | 4.78% | −0.56 |
| INTC Intel Corp. | Reduce -4.7% | 1.12% | −0.28 |
| ACN Accenture PLC Class A | Reduce -3.2% | 2.19% | −0.21 |
| BA The Boeing Co. | Reduce -8.4% | 0.35% | −0.19 |
| NKE Nike Inc. Class B | Reduce -2.1% | 0.73% | −0.17 |
| SSD Simpson Manufacturing Co. Inc. | Sold out | 0.00% | −0.17 |
| MCD McDonald's Corp. | Reduce -1.4% | 0.94% | −0.11 |
| DD Dupont DE Nemours Inc. | Reduce -6.0% | 0.83% | −0.10 |
| JNJ Johnson & Johnson | Reduce -1.9% | 1.47% | −0.08 |
| CSCO Cisco Systems Inc. | Reduce -2.2% | 0.74% | −0.06 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.5% | 0.53% | −0.05 |
| UNP Union Pacific Corp. | Reduce -4.9% | 0.52% | −0.05 |
| WBD Warner Bros Discovery Inc. | Reduce -3.5% | 0.12% | −0.05 |
| ABT Abbott Laboratories | Reduce -3.6% | 0.94% | −0.05 |
| NVS Novartis AG-Sponsored ADR | Reduce -4.2% | 0.32% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -4.2% | 0.65% | −0.04 |
| AVGO Broadcom Inc. | Reduce -31.9% | 0.15% | −0.04 |
| HPQ HP Inc. | Reduce -0.6% | 0.89% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -13.0% | 0.24% | −0.04 |
| AKAM Akamai Technologies Inc. | Reduce -3.4% | 0.23% | −0.04 |
| PM Philip Morris International | Reduce -3.1% | 0.38% | −0.04 |
| PEP Pepsico Inc. | Reduce -3.3% | 0.72% | −0.04 |
| GILD Gilead Sciences Inc. | Reduce -1.7% | 0.19% | −0.03 |
| KEYS Keysight Technologies Inc. | Reduce -0.2% | 0.50% | −0.03 |
| KD Kyndryl Holdings Inc. | Reduce -15.1% | 0.18% | −0.03 |
| HON Honeywell International Inc. | Reduce -0.2% | 0.43% | −0.03 |
| AMGN Amgen Inc. | Reduce -1.0% | 0.42% | −0.03 |
| TOTL SS Doubleline TR Tact ETF | Reduce -35.2% | 0.05% | −0.03 |
| ITW Illinois Tool Works | Reduce -4.7% | 0.35% | −0.03 |
| INTU Intuit Inc. | Reduce -1.6% | 1.09% | −0.02 |
| VOD Vodafone Group PLC-SP ADR | Reduce -20.3% | 0.07% | −0.02 |
| CAG Conagra Brands Inc. | Reduce -4.7% | 0.31% | −0.02 |
| ADP Automatic Data Processing | Reduce -5.9% | 0.46% | −0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -3.6% | 0.19% | −0.02 |
| CARR Carrier Global Corp. | Reduce -4.0% | 0.21% | −0.02 |
| TSLA Tesla Inc. | Reduce -5.6% | 0.03% | −0.02 |
| KO The Coca-Cola Co. | Reduce -6.9% | 0.19% | −0.02 |
| NUE Nucor Corp. | Reduce -15.7% | 0.16% | −0.01 |
| T AT&T Inc. | Reduce -7.1% | 0.19% | −0.01 |
| EXPD Expeditors Intl Wash Inc. | Reduce -0.0% | 0.14% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -8.0% | 0.22% | −0.01 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.01 |
| DXC DXC Technology Co. | Reduce -0.3% | 0.08% | −0.01 |
| FTRE Fortrea Holdings Inc. | Reduce -36.5% | 0.02% | −0.01 |
| AMX America Movil Sab DE CV | Sold out | 0.00% | −0.01 |
| ESS Essex Property Trust Inc. | Reduce -5.2% | 0.08% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -27.0% | 0.03% | −0.01 |
| CVX Chevron Corp. | Reduce -1.4% | 1.93% | −0.01 |
| GL Globe Life Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| CTVA Corteva Inc. | Add +1.4% | 0.99% | +0.14 |
| GLD SPDR Gold Shares | Add +13.8% | 0.67% | +0.10 |
| JCI Johnson Controls Internation | Add +4.8% | 0.75% | +0.09 |
| RTX RTX Corp. | Add +0.7% | 0.81% | +0.08 |
| EBAY eBay Inc. | Add +5.8% | 0.39% | +0.07 |
| PFE Pfizer Inc. | Add +23.9% | 0.53% | +0.07 |
| KMX Carmax Inc. | Add +0.0% | 0.67% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +8.7% | 0.33% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +1.7% | 0.30% | +0.02 |
| EFA iShares MSCI Eafe ETF | Add +155.9% | 0.02% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +6.4% | 0.12% | +0.01 |
| BN Brookfield Corp. | Add +41.0% | 0.04% | +0.01 |
| IFF Intl Flavors & Fragrances | Add +0.1% | 0.69% | +0.01 |
| LRCX Lam Research Corp. | Add +0.3% | 0.06% | +0.01 |
| VLO Valero Energy Corp. | New | 0.01% | +0.01 |
| BAM Brookfield Asset Mgmt-A | New | 0.01% | +0.01 |
| MET Metlife Inc. | New | 0.01% | +0.01 |
| TOL Toll Brothers Inc. | New | 0.01% | +0.01 |
| XLE SS Energy Select Sector | New | 0.01% | +0.01 |
| MMM 3M Co. | Add +10.9% | 0.30% | +0.01 |
| FELE Franklin Electric Co. Inc. | New | 0.01% | +0.01 |
| IJH iShares Core S&P Midcap ETF | Add +5.5% | 0.08% | +0.01 |
| KR Kroger Co. | New | 0.01% | +0.01 |
| FOXA Fox Corp. Class A | New | 0.01% | +0.01 |
| SLV iShares Silver Trust | New | 0.01% | +0.01 |
| TRMB Trimble Inc. | New | 0.01% | +0.01 |
| AEE Ameren Corporation | New | 0.01% | +0.01 |
| DTE DTE Energy Company | New | 0.01% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +4.3% | 0.30% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.9% | 0.09% | +0.01 |
| MA Mastercard Inc. Class A | Add +1.9% | 0.05% | +0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +6.1% | 0.05% | +0.00 |
| LMBS First Trust Low Duration Opp | Add +5.5% | 0.46% | +0.00 |
| NFLX Netflix Inc. | Add +0.3% | 0.02% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +17.5% | 0.02% | +0.00 |
| NTAP Netapp Inc. | Add +1.1% | 0.02% | +0.00 |
| NSC Norfolk Southern Corp. | Add +0.3% | 0.07% | +0.00 |
| IAU iShares Gold Trust | Add +7.4% | 0.02% | +0.00 |
| FDX FedEx Corp. | Add +1.9% | 0.01% | +0.00 |
| JPC Nuveen Prefered & Income Opp | Add +13.0% | 0.01% | +0.00 |
| RSP Invesco S&P 500 Equal Weight | Add +0.1% | 0.02% | +0.00 |
| MCO Moody's Corp. | Add +6.1% | 0.02% | +0.00 |
| SCHM Schwab US Mid Cap ETF | Add +0.1% | 0.01% | +0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.3% | 0.01% | +0.00 |
| VEU Vanguard Ftse All-World Ex-U | Add +0.0% | 0.02% | 0.00 |
| USB US Bancorp | Add +0.9% | 0.02% | −0.00 |
| DE Deere & Co. | Add +0.3% | 0.09% | −0.00 |
| CMCSA Comcast Corp. Class A | Add +0.8% | 0.03% | −0.00 |
| LMT Lockheed Martin Corp. | Add +1.5% | 0.22% | −0.01 |
| NOC Northrop Grumman Corp. | Add +0.5% | 0.35% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 335 | $3.1B | AAPL, GOOGL, MSFT, UPS, COST |
| Q1 2026 | 332 | $2.9B | AAPL, GOOGL, MSFT, COST, UPS |
| Q4 2025 | 323 | $3.0B | AAPL, MSFT, GOOGL, UPS, COST |
| Q3 2025 | 322 | $3.0B | AAPL, MSFT, GOOGL, COST, BRK.B |
| Q2 2025 | 312 | $2.8B | MSFT, AAPL, COST, UPS, BRK.B |
| Q1 2025 | 308 | $2.7B | AAPL, MSFT, COST, UPS, BRK.B |
| Q4 2024 | 304 | $2.8B | AAPL, MSFT, UPS, COST, GOOGL |
| Q3 2024 | 311 | $2.8B | AAPL, MSFT, UPS, COST, BRK.B |
| Q2 2024 | 302 | $2.7B | AAPL, MSFT, UPS, COST, GOOGL |
| Q1 2024 | 306 | $2.7B | MSFT, UPS, AAPL, COST, BRK.B |