Clifford Swan Investment Counsel LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 6, 2026), Clifford Swan Investment Counsel LLC reported 332 stock positions worth $2.9 billion. Its top holding was Apple (AAPL) at 5.7% of the portfolio, followed by Alphabet Class A (GOOGL, 3.8%) and Microsoft (MSFT, 3.8%). Compared with Q4 2025, it opened 17 new positions, sold out of 8, added to 56 and reduced 165. The biggest buy was Corteva (CTVA, shares +1%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- PASADENA, CA
- CIK
- 0001034642
- Portfolio Value
- $2.9B (Q1 2026)
- SEC Filing
- 0001034642-26-000002 ↗ filed May 6, 2026
Holdings Value
Holdings 332 stocks · $2.9B
| AAPL Apple Inc. | 5.68% | 657,717 | $166.9M | Reduce -3.0% |
| GOOGL Alphabet Inc. Class A | 3.81% | 389,695 | $112.1M | Reduce -5.3% |
| MSFT Microsoft Corp. | 3.78% | 300,292 | $111.2M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 3.32% | 97,796 | $97.4M | Reduce -1.7% |
| UPS United Parcel Service Class B | 3.24% | 967,814 | $95.2M | Reduce -0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.68% | 164,505 | $78.8M | Reduce -0.9% |
| CVX Chevron Corp. | 2.19% | 311,474 | $64.4M | Reduce -0.7% |
| ANET Arista Networks Inc. | 2.15% | 514,469 | $63.2M | Reduce -3.4% |
| JPM JPMorgan Chase & Co. | 1.78% | 177,945 | $52.3M | Reduce -1.7% |
| JNJ Johnson & Johnson | 1.76% | 211,196 | $51.6M | Reduce -1.6% |
| XOM Exxon Mobil Corp. | 1.67% | 289,161 | $49.1M | Reduce -2.1% |
| LOW Lowe's Cos Inc. | 1.55% | 193,222 | $45.7M | Reduce -1.4% |
| CTVA Corteva Inc. | 1.43% | 501,539 | $42.0M | Add +0.7% |
| RTX RTX Corp. | 1.36% | 207,240 | $40.0M | Reduce -7.8% |
| ALSN Allison Transmission Holding | 1.31% | 329,022 | $38.5M | Reduce -1.6% |
| GOOG Alphabet Inc. Class C | 1.30% | 133,548 | $38.3M | Reduce -14.2% |
| ACN Accenture PLC Class A | 1.29% | 191,422 | $38.0M | Add +3.7% |
| AMZN Amazon.com Inc. | 1.27% | 179,200 | $37.3M | Reduce -1.4% |
| JCI Johnson Controls Internation | 1.25% | 280,272 | $36.7M | Reduce -2.9% |
| AXP American Express Co. | 1.24% | 120,569 | $36.5M | Reduce -2.6% |
| FAST Fastenal Co. | 1.23% | 781,022 | $36.2M | Reduce -1.4% |
| ORCL Oracle Corp. | 1.21% | 242,153 | $35.6M | Reduce -2.5% |
| WFC Wells Fargo & Co. | 1.19% | 437,593 | $34.8M | Reduce -3.8% |
| EMR Emerson Electric Co. | 1.10% | 246,310 | $32.3M | Reduce -2.1% |
| ABBV Abbvie Inc. | 1.09% | 146,672 | $31.9M | Reduce -1.3% |
| MCK McKesson Corp. | 1.08% | 36,643 | $31.7M | Reduce -5.5% |
| UNH Unitedhealth Group Inc. | 1.03% | 111,352 | $30.1M | Add +2.3% |
| GLD SPDR Gold Shares | 1.00% | 68,511 | $29.5M | Reduce -7.7% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.97% | 556,159 | $28.6M | Add +1.9% |
| TSCO Tractor Supply Company | 0.96% | 624,857 | $28.3M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.95% | 358,355 | $27.8M | Reduce -1.9% |
| LH Labcorp Holdings Inc. | 0.94% | 103,217 | $27.5M | Reduce -1.1% |
| CAT Caterpillar Inc. | 0.91% | 37,800 | $26.8M | Add +0.4% |
| SYK Stryker Corp. | 0.88% | 78,754 | $25.9M | Reduce -0.6% |
| INTU Intuit Inc. | 0.84% | 56,751 | $24.5M | Add +31.9% |
| MCD McDonald's Corp. | 0.82% | 77,783 | $24.2M | Reduce -0.9% |
| PEP Pepsico Inc. | 0.81% | 153,540 | $23.8M | Add +0.2% |
| PH Parker Hannifin Corp. | 0.81% | 26,562 | $23.8M | Reduce -0.4% |
| KEYS Keysight Technologies Inc. | 0.77% | 80,302 | $22.7M | Reduce -2.6% |
| ENTG Entegris Inc. | 0.76% | 191,212 | $22.4M | Reduce -3.1% |
| BKNG Booking Holdings Inc. | 0.75% | 5,268 | $22.2M | Add +11.9% |
| PG The Procter & Gamble Co. | 0.71% | 145,453 | $21.0M | Reduce -1.5% |
| ABT Abbott Laboratories | 0.70% | 201,299 | $20.7M | Reduce -1.6% |
| ALB Albemarle Corp. | 0.70% | 114,365 | $20.5M | Reduce -2.5% |
| EW Edwards Lifesciences Corp. | 0.68% | 250,452 | $20.1M | Reduce -0.4% |
| MDLZ Mondelez International Inc. Class A | 0.68% | 345,672 | $19.9M | Add +17.4% |
| QCOM Qualcomm Inc. | 0.68% | 154,670 | $19.9M | Reduce -5.7% |
| SYY Sysco Corp. | 0.66% | 273,240 | $19.5M | Reduce -0.2% |
| BMY Bristol-Myers Squibb Co. | 0.62% | 301,465 | $18.3M | Reduce -2.6% |
| WMT Walmart Inc. | 0.62% | 145,454 | $18.1M | Reduce -4.7% |
| META Meta Platforms Inc. Class A | 0.61% | 31,284 | $17.9M | Reduce -6.1% |
| INTC Intel Corp. | 0.60% | 398,521 | $17.6M | Reduce -8.2% |
| FERG Ferguson Enterprises Inc. | 0.60% | 75,136 | $17.5M | Reduce -0.3% |
| ZTS Zoetis Inc. | 0.60% | 148,151 | $17.5M | Add +115.7% |
| UNP Union Pacific Corp. | 0.57% | 69,093 | $16.8M | Add +3.7% |
| A Agilent Technologies Inc. | 0.56% | 143,533 | $16.4M | Reduce -0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.54% | 24,384 | $15.9M | Add +25.6% |
| PM Philip Morris International | 0.53% | 94,642 | $15.6M | Reduce -5.5% |
| LMBS First Trust Low Duration Opp | 0.49% | 291,821 | $14.5M | Reduce -3.7% |
| HPE Hewlett Packard Enterprise | 0.48% | 593,758 | $14.1M | Reduce -1.7% |
| CPAY Corpay Inc. | 0.48% | 48,158 | $14.0M | Add +5.7% |
| EBAY eBay Inc. | 0.47% | 152,235 | $13.9M | Reduce -7.0% |
| HPQ HP Inc. | 0.47% | 715,605 | $13.7M | Reduce -0.1% |
| PFE Pfizer Inc. | 0.47% | 489,295 | $13.7M | Add +0.8% |
| KMX Carmax Inc. | 0.46% | 324,084 | $13.5M | Add +7.8% |
| SBUX Starbucks Corp. | 0.45% | 146,495 | $13.1M | Reduce -9.4% |
| AMGN Amgen Inc. | 0.45% | 37,189 | $13.1M | Reduce -2.6% |
| NOC Northrop Grumman Corp. | 0.44% | 18,802 | $12.8M | Reduce -2.6% |
| HD Home Depot Inc. | 0.43% | 38,592 | $12.7M | Reduce -0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.43% | 130,364 | $12.6M | Reduce -3.0% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.41% | 324,741 | $11.9M | Add +1.8% |
| CL Colgate-Palmolive Co. | 0.40% | 139,095 | $11.9M | Reduce -1.3% |
| COP Conocophillips | 0.40% | 89,572 | $11.8M | Add +0.3% |
| HON Honeywell International Inc. | 0.39% | 51,080 | $11.5M | Reduce -1.9% |
| NVDA Nvidia Corp. | 0.39% | 64,997 | $11.3M | Reduce -6.5% |
| EXPD Expeditors Intl Wash Inc. | 0.38% | 78,952 | $11.3M | Reduce -1.1% |
| GS Goldman Sachs Group Inc. | 0.38% | 13,232 | $11.2M | Reduce -9.9% |
| NVS Novartis AG-Sponsored ADR | 0.38% | 72,551 | $11.1M | Reduce -1.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.37% | 15 | $10.8M | Reduce -6.3% |
| IJR iShares Core S&P Small-Cap E | 0.36% | 85,615 | $10.6M | Reduce -2.7% |
| VOO Vanguard S&P 500 ETF | 0.35% | 17,244 | $10.3M | Reduce -1.1% |
| CMI Cummins Inc. | 0.34% | 18,443 | $9.9M | No change |
| ADP Automatic Data Processing | 0.32% | 46,796 | $9.5M | Add +1.5% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.32% | 130,109 | $9.4M | Reduce -6.7% |
| Q Qnity Electronics Inc. | 0.32% | 80,583 | $9.3M | Reduce -20.3% |
| DD Dupont DE Nemours Inc. | 0.32% | 202,334 | $9.3M | Reduce -3.0% |
| MRK Merck & Co. Inc. | 0.31% | 76,120 | $9.2M | Add +0.5% |
| KO The Coca-Cola Co. | 0.31% | 118,662 | $9.0M | Add +0.8% |
| NKE Nike Inc. Class B | 0.31% | 170,653 | $9.0M | Reduce -1.9% |
| XLK SS Technology Select Sector | 0.30% | 66,256 | $8.8M | Add +0.0% |
| AON Aon PLC Class A | 0.30% | 27,076 | $8.7M | Add +11.5% |
| AVGO Broadcom Inc. | 0.29% | 27,189 | $8.4M | Add +3.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.29% | 70,611 | $8.4M | Reduce -2.5% |
| ITW Illinois Tool Works | 0.28% | 31,515 | $8.2M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.27% | 33,026 | $8.0M | Reduce -0.5% |
| BA The Boeing Co. | 0.27% | 39,665 | $7.9M | Reduce -0.5% |
| GE General Electric filed as GE AEROSPACE | 0.27% | 27,599 | $7.8M | Reduce -3.5% |
| BP BP PLC-Spons ADR | 0.26% | 161,400 | $7.6M | Reduce -3.7% |
| PYPL PayPal Holdings Inc. | 0.26% | 166,573 | $7.5M | Reduce -2.0% |
| LMT Lockheed Martin Corp. | 0.24% | 11,874 | $7.2M | Reduce -2.4% |
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -0.9% | 3.78% | −1.08 |
| GOOGL Alphabet Inc. Class A | Reduce -5.3% | 3.81% | −0.46 |
| AAPL Apple Inc. | Reduce -3.0% | 5.68% | −0.43 |
| ORCL Oracle Corp. | Reduce -2.5% | 1.21% | −0.39 |
| GOOG Alphabet Inc. Class C | Reduce -14.2% | 1.30% | −0.32 |
| AXP American Express Co. | Reduce -2.6% | 1.24% | −0.28 |
| QCOM Qualcomm Inc. | Reduce -5.7% | 0.68% | −0.25 |
| WFC Wells Fargo & Co. | Reduce -3.8% | 1.19% | −0.22 |
| ANET Arista Networks Inc. | Reduce -3.4% | 2.15% | −0.17 |
| JPM JPMorgan Chase & Co. | Reduce -1.7% | 1.78% | −0.15 |
| ABT Abbott Laboratories | Reduce -1.6% | 0.70% | −0.15 |
| AMZN Amazon.com Inc. | Reduce -1.4% | 1.27% | −0.12 |
| META Meta Platforms Inc. Class A | Reduce -6.1% | 0.61% | −0.12 |
| A Agilent Technologies Inc. | Reduce -0.2% | 0.56% | −0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.9% | 2.68% | −0.09 |
| AOA iShares Core 80/20 Aggressiv | Sold out | 0.00% | −0.08 |
| TSCO Tractor Supply Company | Reduce -0.8% | 0.96% | −0.08 |
| DIS The Walt Disney Co. | Reduce -3.0% | 0.43% | −0.08 |
| AOR iShares Core 60/40 Balanced | Sold out | 0.00% | −0.08 |
| PYPL PayPal Holdings Inc. | Reduce -2.0% | 0.26% | −0.07 |
| HPQ HP Inc. | Reduce -0.1% | 0.47% | −0.06 |
| NKE Nike Inc. Class B | Reduce -1.9% | 0.31% | −0.06 |
| IBM Intl Business Machines Corp. | Reduce -0.5% | 0.27% | −0.05 |
| GS Goldman Sachs Group Inc. | Reduce -9.9% | 0.38% | −0.05 |
| NVDA Nvidia Corp. | Reduce -6.5% | 0.39% | −0.04 |
| SYK Stryker Corp. | Reduce -0.6% | 0.88% | −0.04 |
| SLV iShares Silver Trust | Reduce -54.1% | 0.04% | −0.04 |
| ABBV Abbvie Inc. | Reduce -1.3% | 1.09% | −0.04 |
| SIL Global X Silver Miners ETF | Reduce -85.0% | 0.01% | −0.04 |
| TT Trane Technologies PLC | Reduce -33.7% | 0.10% | −0.04 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -6.3% | 0.37% | −0.03 |
| MA Mastercard Inc. Class A | Reduce -60.6% | 0.02% | −0.03 |
| TSLA Tesla Inc. | Reduce -0.9% | 0.15% | −0.03 |
| EW Edwards Lifesciences Corp. | Reduce -0.4% | 0.68% | −0.03 |
| GE General Electric | Reduce -3.5% | 0.27% | −0.03 |
| BAC Bank of America Corp. | Reduce -16.2% | 0.06% | −0.02 |
| BA The Boeing Co. | Reduce -0.5% | 0.27% | −0.02 |
| IBIT iShares Bitcoin Trust ETF | Reduce -56.0% | 0.01% | −0.02 |
| SGDM Sprott Gold Miners ETF | Reduce -72.6% | 0.01% | −0.02 |
| SPGI S&P Global Inc. | Reduce -0.1% | 0.09% | −0.02 |
| LLY Eli Lilly & Co. | Reduce -1.7% | 0.11% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -1.4% | 1.55% | −0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -13.2% | 0.10% | −0.01 |
| GDX Vaneck Gold Miners ETF | Reduce -20.4% | 0.08% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -1.1% | 0.35% | −0.01 |
| V Visa Inc. Class A | Reduce -9.1% | 0.04% | −0.01 |
| KD Kyndryl Holdings Inc. | Reduce -0.6% | 0.01% | −0.01 |
| EXPD Expeditors Intl Wash Inc. | Reduce -1.1% | 0.38% | −0.01 |
| EMR Emerson Electric Co. | Reduce -2.1% | 1.10% | −0.01 |
| RSP Invesco S&P 500 Equal Weight | Reduce -20.0% | 0.04% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| CTVA Corteva Inc. | Add +0.7% | 1.43% | +0.32 |
| ZTS Zoetis Inc. | Add +115.7% | 0.60% | +0.31 |
| SLB SLB Ltd. | Add +1.9% | 0.97% | +0.28 |
| CAT Caterpillar Inc. | Add +0.4% | 0.91% | +0.20 |
| MDLZ Mondelez International Inc. Class A | Add +17.4% | 0.68% | +0.15 |
| COP Conocophillips | Add +0.3% | 0.40% | +0.13 |
| OTIS Otis Worldwide Corp. | Add +117.0% | 0.24% | +0.12 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +25.6% | 0.54% | +0.10 |
| PEP Pepsico Inc. | Add +0.2% | 0.81% | +0.08 |
| KMX Carmax Inc. | Add +7.8% | 0.46% | +0.07 |
| PFE Pfizer Inc. | Add +0.8% | 0.47% | +0.07 |
| UNP Union Pacific Corp. | Add +3.7% | 0.57% | +0.06 |
| MRK Merck & Co. Inc. | Add +0.5% | 0.31% | +0.05 |
| KO The Coca-Cola Co. | Add +0.8% | 0.31% | +0.03 |
| CPAY Corpay Inc. | Add +5.7% | 0.48% | +0.02 |
| VRSK Verisk Analytics Inc. | New | 0.02% | +0.02 |
| AMAT Applied Materials Inc. | New | 0.01% | +0.01 |
| DIVO Amplify CWP Enhan Divid ETF | New | 0.01% | +0.01 |
| ETN Eaton Corp. PLC | Add +0.6% | 0.10% | +0.01 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.01% | +0.01 |
| AON Aon PLC Class A | Add +11.5% | 0.30% | +0.01 |
| APA Apa Corp. | Add +17.4% | 0.02% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +5.9% | 0.06% | +0.01 |
| TJX TJX Companies Inc. | Add +0.5% | 0.17% | +0.01 |
| CSX CSX Corp. | Add +6.6% | 0.05% | +0.01 |
| CATF American Century Ca Muni ETF | New | 0.01% | +0.01 |
| IXC iShares Global Energy ETF | New | 0.01% | +0.01 |
| STX Seagate Technology Holdings | New | 0.01% | +0.01 |
| CGGR Cap Group Growth Equity | New | 0.01% | +0.01 |
| KLAC KLA Corp. | New | 0.01% | +0.01 |
| CGDV Cap Group Dividend Value | New | 0.01% | +0.01 |
| CI The Cigna Group | New | 0.01% | +0.01 |
| WAT Waters Corp. | New | 0.01% | +0.01 |
| ATMU Atmus Filtration Technologie | New | 0.01% | +0.01 |
| LIT Global X Lithium & Battery T | New | 0.01% | +0.01 |
| EEM iShares MSCI Emerging Market | Add +3.3% | 0.08% | +0.01 |
| JBL Jabil Inc. | New | 0.01% | +0.01 |
| NUE Nucor Corp. | Add +0.5% | 0.11% | +0.01 |
| AZN Astrazeneca PLC | New | 0.01% | +0.01 |
| EXR Extra Space Storage Inc. | New | 0.01% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +6.3% | 0.16% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +27.4% | 0.02% | +0.01 |
| FDX FedEx Corp. | Add +6.6% | 0.02% | +0.01 |
| VLO Valero Energy Corp. | Add +5.1% | 0.01% | +0.01 |
| MU Micron Technology Inc. | Add +11.9% | 0.01% | +0.00 |
| PAYX Paychex Inc. | Add +34.4% | 0.03% | +0.00 |
| WMB Williams Cos Inc. | Add +13.2% | 0.01% | +0.00 |
| NFLX Netflix Inc. | Add +2.3% | 0.03% | +0.00 |
| ROST Ross Stores Inc. | Add +1.6% | 0.01% | +0.00 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Add +11.7% | 0.01% | +0.00 |
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 |