Donaldson Capital Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 22, 2024), Donaldson Capital Management, LLC reported 205 stock positions worth $2.4 billion. Its top holding was iShares Ultra Short Duration (ICSH) at 4.8% of the portfolio, followed by Microsoft (MSFT, 4.8%) and Apple (AAPL, 3.9%). Compared with Q4 2023, it opened 6 new positions, sold out of 15, added to 94 and reduced 89. The biggest buy was iShares Semiconductor ETF (SOXX, shares +636%) and the biggest sale Air Products & Chemicals (APD, shares −90%).
- Most Recent 13F
- Q2 2026
- Location
- EVANSVILLE, IN
- CIK
- 0001487438
- Portfolio Value
- $2.4B (Q1 2024)
- SEC Filing
- 0001487438-24-000002 ↗ filed Apr 22, 2024
Holdings Value
Holdings 205 stocks · $2.4B
| ICSH iShares Ultra Short Duration | 4.83% | 2,295,304 | $116.1M | Add +12.5% |
| MSFT Microsoft Corp. | 4.82% | 275,414 | $115.9M | Reduce -9.2% |
| AAPL Apple Inc. | 3.93% | 550,887 | $94.5M | Add +1.5% |
| AVGO Broadcom Inc. | 3.83% | 69,361 | $91.9M | Reduce -1.2% |
| ABBV Abbvie Inc. | 3.59% | 473,424 | $86.2M | Add +0.5% |
| ACN Accenture PLC Class A | 3.31% | 229,458 | $79.5M | Add +0.6% |
| COST Costco Wholesale Corp. | 3.24% | 106,124 | $77.7M | Add +0.7% |
| ALL Allstate Corp. | 3.15% | 437,894 | $75.8M | Add +4.6% |
| HD Home Depot Inc. | 3.14% | 196,473 | $75.4M | Add +0.3% |
| XOM Exxon Mobil Corp. | 2.93% | 605,314 | $70.4M | Add +1.5% |
| JPM JPMorgan Chase & Co. | 2.86% | 343,502 | $68.8M | Add +0.5% |
| MRK Merck & Co. Inc. | 2.62% | 477,373 | $63.0M | Add +1.3% |
| TXN Texas Instruments Inc. | 2.36% | 325,730 | $56.7M | Add +1.3% |
| LMT Lockheed Martin Corp. | 2.34% | 123,704 | $56.3M | Add +0.6% |
| SOXX iShares Semiconductor ETF | 2.32% | 246,737 | $55.7M | Add +636.0% |
| AFL Aflac Inc. | 2.31% | 645,146 | $55.4M | Add +0.1% |
| JNJ Johnson & Johnson | 2.23% | 338,853 | $53.6M | Add +3.0% |
| UNP Union Pacific Corp. | 2.15% | 210,016 | $51.6M | Add +3.0% |
| UNH Unitedhealth Group Inc. | 2.14% | 104,067 | $51.5M | Add +0.1% |
| PAYX Paychex Inc. | 2.12% | 414,302 | $50.9M | Reduce -0.2% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.96% | 385,852 | $47.0M | Add +8.2% |
| UPS United Parcel Service Class B | 1.89% | 304,832 | $45.3M | Add +6.6% |
| MRSH Marsh & McLennan Cos | 1.88% | 218,781 | $45.1M | Add +4090.4% |
| CME Cme Group Inc. | 1.85% | 206,917 | $44.5M | Add +7.3% |
| NEE Nextera Energy Inc. | 1.82% | 686,099 | $43.8M | Add +2.2% |
| BLK BlackRock Finance Inc. | 1.80% | 51,763 | $43.2M | Reduce -1.0% |
| XLC SS Comm Select Sector SPDR | 1.68% | 495,699 | $40.5M | New |
| CVX Chevron Corp. | 1.65% | 251,512 | $39.7M | Reduce -0.1% |
| NOC Northrop Grumman Corp. | 1.56% | 78,277 | $37.5M | Add +0.1% |
| NEAR iShares SH Dba ETF Usd Inc. | 1.47% | 702,234 | $35.4M | Reduce -0.5% |
| BMY Bristol-Myers Squibb Co. | 1.44% | 639,855 | $34.7M | Add +5.5% |
| CSCO Cisco Systems Inc. | 1.42% | 683,936 | $34.1M | Add +3.7% |
| PEP Pepsico Inc. | 1.33% | 183,036 | $32.0M | Add +6.1% |
| RTX RTX Corp. | 1.23% | 303,160 | $29.6M | Add +1.9% |
| LLY Eli Lilly & Co. | 0.83% | 25,630 | $19.9M | Add +11.5% |
| JPST JPMorgan Ultra-Short Income | 0.79% | 378,171 | $19.1M | Add +22.4% |
| ADP Automatic Data Processing | 0.50% | 48,187 | $12.0M | Add +3.1% |
| AMZN Amazon.com Inc. | 0.47% | 63,095 | $11.4M | Add +3.3% |
| GOOGL Alphabet Inc. Class A | 0.43% | 67,772 | $10.2M | Add +6.8% |
| V Visa Inc. Class A | 0.40% | 34,222 | $9.6M | Add +4.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 20,647 | $8.7M | Add +4.6% |
| MA Mastercard Inc. Class A | 0.34% | 16,840 | $8.1M | Add +9.2% |
| VIG Vanguard Dividend Apprec ETF | 0.34% | 44,320 | $8.1M | Reduce -11.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.32% | 70,644 | $7.7M | Add +8.4% |
| INTU Intuit Inc. | 0.31% | 11,362 | $7.4M | Add +3.8% |
| ADBE Adobe Inc. | 0.31% | 14,579 | $7.4M | Add +13.5% |
| XLE SS Energy Select Sector | 0.30% | 75,640 | $7.1M | Add +5.4% |
| ORLY O'reilly Automotive Inc. | 0.29% | 6,271 | $7.1M | Add +7.9% |
| VLO Valero Energy Corp. | 0.29% | 40,537 | $6.9M | Reduce -84.0% |
| SCHD Schwab US DVD Equity ETF | 0.27% | 81,733 | $6.6M | Reduce -21.8% |
| ABT Abbott Laboratories | 0.26% | 54,362 | $6.2M | Add +0.0% |
| MCO Moody's Corp. | 0.26% | 15,702 | $6.2M | Add +3.6% |
| ECL Ecolab Inc. | 0.26% | 26,681 | $6.2M | Add +6.4% |
| WM Waste Management Inc. | 0.25% | 27,770 | $5.9M | Add +5.8% |
| CPRT Copart Inc. | 0.23% | 95,646 | $5.5M | Add +6.5% |
| CSX CSX Corp. | 0.22% | 141,253 | $5.2M | Add +6.8% |
| APD Air Products & Chemicals Inc. | 0.21% | 20,570 | $5.0M | Reduce -90.5% |
| KNSL Kinsale Capital Group Inc. | 0.21% | 9,484 | $5.0M | New |
| MSCI MSCI Inc. | 0.20% | 8,659 | $4.9M | Add +4.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.20% | 13,788 | $4.7M | Reduce -4.6% |
| MCD McDonald's Corp. | 0.19% | 15,906 | $4.5M | Reduce -13.6% |
| SCHG Schwab US Large-Cap Growth | 0.18% | 47,156 | $4.4M | Add +14.4% |
| CMI Cummins Inc. | 0.18% | 14,680 | $4.3M | Reduce -92.8% |
| NOBL Proshares S&P 500 Dividend A | 0.18% | 41,743 | $4.2M | Reduce -16.8% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.17% | 32,629 | $4.2M | Add +0.1% |
| NKE Nike Inc. Class B | 0.17% | 44,024 | $4.1M | Add +1.9% |
| HSY The Hershey Co. | 0.17% | 20,831 | $4.1M | Add +13.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.16% | 7,435 | $3.9M | Add +4.2% |
| MTD Mettler-Toledo International | 0.16% | 2,891 | $3.8M | Add +14.8% |
| VYM Vanguard High DVD Yield ETF | 0.16% | 31,585 | $3.8M | Reduce -8.0% |
| CAT Caterpillar Inc. | 0.16% | 10,340 | $3.8M | Reduce -0.3% |
| NVDA Nvidia Corp. | 0.15% | 4,096 | $3.7M | Reduce -11.5% |
| TMO Thermo Fisher Scientific Inc. | 0.15% | 6,282 | $3.7M | Add +9.8% |
| CINF Cincinnati Financial Corp. | 0.14% | 27,129 | $3.4M | Reduce -12.1% |
| AGG iShares Core U.S. Aggregate | 0.13% | 33,031 | $3.2M | Reduce -4.9% |
| VRSN Verisign Inc. | 0.13% | 16,463 | $3.1M | Add +1.9% |
| KO The Coca-Cola Co. | 0.12% | 49,016 | $3.0M | Add +3.5% |
| ELV Elevance Health Inc. | 0.12% | 5,662 | $2.9M | Add +179.7% |
| AMGN Amgen Inc. | 0.12% | 10,290 | $2.9M | Reduce -6.9% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.12% | 18,971 | $2.9M | Add +7.2% |
| PGR Progressive Corp. | 0.12% | 13,850 | $2.9M | Add +1.1% |
| MTUM iShares MSCI USA Momentum Fa | 0.12% | 15,044 | $2.8M | Reduce -22.7% |
| LII Lennox International Inc. | 0.11% | 5,464 | $2.7M | Add +0.0% |
| ERIE Erie Indemnity Company Class A | 0.11% | 6,535 | $2.6M | No change |
| BAB Invesco Taxable Municipal Bo | 0.11% | 96,909 | $2.6M | Reduce -41.8% |
| COR Cencora Inc. | 0.11% | 10,510 | $2.6M | Reduce -0.7% |
| XLK SS Technology Select Sector | 0.10% | 11,945 | $2.5M | Reduce -23.8% |
| SCHB Schwab US Broad Market ETF | 0.09% | 37,038 | $2.3M | Add +11.2% |
| META Meta Platforms Inc. Class A | 0.09% | 4,567 | $2.2M | Reduce -8.6% |
| PG The Procter & Gamble Co. | 0.09% | 13,534 | $2.2M | Add +2.2% |
| RSG Republic Services Inc. | 0.09% | 11,467 | $2.2M | Reduce -14.3% |
| NFLX Netflix Inc. | 0.09% | 3,567 | $2.2M | Add +5.0% |
| SBUX Starbucks Corp. | 0.09% | 23,240 | $2.1M | Reduce -4.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 10,912 | $2.1M | Reduce -0.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.09% | 15,283 | $2.1M | Reduce -3.0% |
| PFF iShares Preferred & Income S | 0.08% | 62,269 | $2.0M | Add +0.3% |
| SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC | 0.08% | 35,044 | $2.0M | Add +21.0% |
| CRM Salesforce Inc. | 0.08% | 6,398 | $1.9M | Reduce -2.3% |
| NOW ServiceNow Inc. | 0.08% | 2,452 | $1.9M | Add +9.0% |
| HCA HCA Healthcare Inc. | 0.08% | 5,600 | $1.9M | New |
Portfolio Sells Q4 2023 → Q1 2024
| APD Air Products & Chemicals Inc. | Reduce -90.5% | 0.21% | −2.44 |
| CMI Cummins Inc. | Reduce -92.8% | 0.18% | −1.99 |
| VLO Valero Energy Corp. | Reduce -84.0% | 0.29% | −1.19 |
| MSFT Microsoft Corp. | Reduce -9.2% | 4.82% | −0.29 |
| MS Morgan Stanley | Reduce -64.7% | 0.07% | −0.15 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -0.5% | 1.47% | −0.12 |
| BLK BlackRock Finance Inc. | Reduce -1.0% | 1.80% | −0.11 |
| PAYX Paychex Inc. | Reduce -0.2% | 2.12% | −0.10 |
| BAB Invesco Taxable Municipal Bo | Reduce -41.8% | 0.11% | −0.09 |
| XLI SS Industrial Select Sector | Reduce -82.2% | 0.02% | −0.09 |
| SCHD Schwab US DVD Equity ETF | Reduce -21.8% | 0.27% | −0.08 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.08 |
| SHW The Sherwin-Williams Co. | Reduce -81.8% | 0.02% | −0.07 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.07 |
| MCD McDonald's Corp. | Reduce -13.6% | 0.19% | −0.06 |
| XLV SS Health Care Select Sector | Reduce -72.4% | 0.02% | −0.05 |
| VIG Vanguard Dividend Apprec ETF | Reduce -11.7% | 0.34% | −0.05 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.04 |
| NOBL Proshares S&P 500 Dividend A | Reduce -16.8% | 0.18% | −0.04 |
| RY Royal Bank of Canada | Reduce -34.5% | 0.05% | −0.03 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.03 |
| XLK SS Technology Select Sector | Reduce -23.8% | 0.10% | −0.03 |
| CVX Chevron Corp. | Reduce -0.1% | 1.65% | −0.03 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.02 |
| AMGN Amgen Inc. | Reduce -6.9% | 0.12% | −0.02 |
| USMV iShares MSCI USA Min Vol Fac | Sold out | 0.00% | −0.02 |
| BALL Ball Corp. | Sold out | 0.00% | −0.02 |
| AGG iShares Core U.S. Aggregate | Reduce -4.9% | 0.13% | −0.02 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -22.7% | 0.12% | −0.02 |
| LIN Linde PLC | Reduce -48.4% | 0.02% | −0.02 |
| WEC WEC Energy Group Inc. | Sold out | 0.00% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Sold out | 0.00% | −0.02 |
| SBUX Starbucks Corp. | Reduce -4.0% | 0.09% | −0.02 |
| SO The Southern Co. | Reduce -11.0% | 0.08% | −0.01 |
| SUB iShares Short-Term National | Sold out | 0.00% | −0.01 |
| VYM Vanguard High DVD Yield ETF | Reduce -8.0% | 0.16% | −0.01 |
| MDT Medtronic PLC | Sold out | 0.00% | −0.01 |
| RSP Invesco S&P 500 Equal Weight | Reduce -37.0% | 0.02% | −0.01 |
| THFF First Financial Corp. | Reduce -19.6% | 0.02% | −0.01 |
| HUM Humana Inc. | Sold out | 0.00% | −0.01 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.01 |
| MUB iShares National Muni Bond E | Sold out | 0.00% | −0.01 |
| XEL Xcel Energy Inc. | Sold out | 0.00% | −0.01 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -15.4% | 0.03% | −0.01 |
| SGOV iShares 0-3 Month Treasury B | Reduce -12.8% | 0.04% | −0.01 |
| GILD Gilead Sciences Inc. | Reduce -1.3% | 0.04% | −0.01 |
| ITW Illinois Tool Works | Reduce -17.0% | 0.03% | −0.01 |
| TD Toronto-Dominion Bank | Reduce -5.4% | 0.04% | −0.01 |
| RSG Republic Services Inc. | Reduce -14.3% | 0.09% | −0.01 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -42.9% | 0.01% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| SOXX iShares Semiconductor ETF | Add +636.0% | 2.32% | +2.03 |
| MRSH Marsh & McLennan Cos | Add +4090.4% | 1.88% | +1.83 |
| XLC SS Comm Select Sector SPDR | New | 1.68% | +1.68 |
| ALL Allstate Corp. | Add +4.6% | 3.15% | +0.53 |
| MRK Merck & Co. Inc. | Add +1.3% | 2.62% | +0.32 |
| ABBV Abbvie Inc. | Add +0.5% | 3.59% | +0.31 |
| JPM JPMorgan Chase & Co. | Add +0.5% | 2.86% | +0.26 |
| XOM Exxon Mobil Corp. | Add +1.5% | 2.93% | +0.26 |
| TROW T Rowe Price Group Inc. | Add +8.2% | 1.96% | +0.24 |
| LLY Eli Lilly & Co. | Add +11.5% | 0.83% | +0.23 |
| ICSH iShares Ultra Short Duration | Add +12.5% | 4.83% | +0.22 |
| KNSL Kinsale Capital Group Inc. | New | 0.21% | +0.21 |
| COST Costco Wholesale Corp. | Add +0.7% | 3.24% | +0.12 |
| RTX RTX Corp. | Add +1.9% | 1.23% | +0.11 |
| JPST JPMorgan Ultra-Short Income | Add +22.4% | 0.79% | +0.10 |
| HD Home Depot Inc. | Add +0.3% | 3.14% | +0.09 |
| ELV Elevance Health Inc. | Add +179.7% | 0.12% | +0.08 |
| HCA HCA Healthcare Inc. | New | 0.08% | +0.08 |
| AMZN Amazon.com Inc. | Add +3.3% | 0.47% | +0.06 |
| BMY Bristol-Myers Squibb Co. | Add +5.5% | 1.44% | +0.05 |
| ORLY O'reilly Automotive Inc. | Add +7.9% | 0.29% | +0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +4.6% | 0.36% | +0.05 |
| MA Mastercard Inc. Class A | Add +9.2% | 0.34% | +0.04 |
| WM Waste Management Inc. | Add +5.8% | 0.25% | +0.04 |
| ECL Ecolab Inc. | Add +6.4% | 0.26% | +0.03 |
| CME Cme Group Inc. | Add +7.3% | 1.85% | +0.03 |
| CPRT Copart Inc. | Add +6.5% | 0.23% | +0.03 |
| SCHG Schwab US Large-Cap Growth | Add +14.4% | 0.18% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +6.8% | 0.43% | +0.03 |
| XLE SS Energy Select Sector | Add +5.4% | 0.30% | +0.03 |
| MTD Mettler-Toledo International | Add +14.8% | 0.16% | +0.02 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +0.1% | 0.17% | +0.02 |
| PGR Progressive Corp. | Add +1.1% | 0.12% | +0.02 |
| PEP Pepsico Inc. | Add +6.1% | 1.33% | +0.02 |
| SGI Somnigroup International Inc. | Add +21.0% | 0.08% | +0.02 |
| NFLX Netflix Inc. | Add +5.0% | 0.09% | +0.02 |
| TMO Thermo Fisher Scientific Inc. | Add +9.8% | 0.15% | +0.02 |
| HSY The Hershey Co. | Add +13.7% | 0.17% | +0.02 |
| DIS The Walt Disney Co. | Add +1.4% | 0.07% | +0.01 |
| V Visa Inc. Class A | Add +4.1% | 0.40% | +0.01 |
| ADP Automatic Data Processing | Add +3.1% | 0.50% | +0.01 |
| CSX CSX Corp. | Add +6.8% | 0.22% | +0.01 |
| TM Toyota Motor Corp. -Spon ADR | New | 0.01% | +0.01 |
| SCHB Schwab US Broad Market ETF | Add +11.2% | 0.09% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.2% | 0.16% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +41.3% | 0.03% | +0.01 |
| FDX FedEx Corp. | New | 0.01% | +0.01 |
| QCOM Qualcomm Inc. | New | 0.01% | +0.01 |
| NOW ServiceNow Inc. | Add +9.0% | 0.08% | +0.01 |
| EMR Emerson Electric Co. | Add +25.0% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 309 | $3.5B | SOXX, KRMN, AAPL, AVGO, ABBV |
| Q1 2026 | 233 | $3.1B | KRMN, AVGO, AAPL, XLC, ABBV |
| Q4 2025 | 231 | $3.1B | KRMN, AVGO, AAPL, XLC, MSFT |
| Q3 2025 | 232 | $3.2B | KRMN, AVGO, AAPL, MSFT, XLC |
| Q2 2025 | 212 | $2.7B | AVGO, MSFT, AAPL, XLC, ICSH |
| Q1 2025 | 221 | $2.6B | AAPL, ICSH, MSFT, ABBV, XLC |
| Q4 2024 | 213 | $2.6B | AAPL, AVGO, MSFT, ICSH, ACN |
| Q3 2024 | 214 | $2.6B | AAPL, AVGO, MSFT, ICSH, ABBV |
| Q2 2024 | 209 | $2.4B | MSFT, AAPL, AVGO, ICSH, COST |
| Q1 2024 | 205 | $2.4B | ICSH, MSFT, AAPL, AVGO, ABBV |