Donaldson Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Donaldson Capital Management, LLC reported 212 stock positions worth $2.7 billion. Its top holding was Broadcom (AVGO) at 5.7% of the portfolio, followed by Microsoft (MSFT, 5.0%) and Apple (AAPL, 4.2%). Compared with Q1 2025, it opened 6 new positions, sold out of 15, added to 74 and reduced 106. The biggest buy was Broadcom (AVGO, shares +1%) and the biggest sale BlackRock (BLK, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- EVANSVILLE, IN
- CIK
- 0001487438
- Portfolio Value
- $2.7B (Q2 2025)
- SEC Filing
- 0001487438-25-000004 ↗ filed Aug 7, 2025
Holdings Value
Holdings 212 stocks · $2.7B
| AVGO Broadcom Inc. | 5.66% | 559,536 | $154.2M | Add +0.5% |
| MSFT Microsoft Corp. | 5.02% | 275,091 | $136.8M | Reduce -1.6% |
| AAPL Apple Inc. | 4.23% | 561,790 | $115.3M | Reduce -0.1% |
| XLC SS Comm Select Sector SPDR | 4.18% | 1,049,818 | $113.9M | Add +4.7% |
| ICSH iShares Ultra Short Duration | 4.07% | 2,186,562 | $110.9M | Reduce -10.7% |
| JPM JPMorgan Chase & Co. | 3.68% | 345,465 | $100.2M | Add +0.3% |
| ABBV Abbvie Inc. | 3.25% | 477,487 | $88.6M | Reduce -0.7% |
| COST Costco Wholesale Corp. | 3.18% | 87,517 | $86.6M | Reduce -0.5% |
| ACN Accenture PLC Class A | 2.78% | 253,258 | $75.7M | Add +0.1% |
| HD Home Depot Inc. | 2.64% | 196,407 | $72.0M | Add +0.1% |
| SOXX iShares Semiconductor ETF | 2.58% | 294,297 | $70.2M | Reduce -7.9% |
| TXN Texas Instruments Inc. | 2.53% | 332,340 | $69.0M | Add +1.5% |
| MS Morgan Stanley | 2.37% | 458,190 | $64.5M | Reduce -0.8% |
| ALL Allstate Corp. | 2.35% | 318,256 | $64.1M | Add +0.1% |
| CME Cme Group Inc. | 2.35% | 231,962 | $63.9M | Add +0.8% |
| XOM Exxon Mobil Corp. | 2.30% | 581,548 | $62.7M | Reduce -8.0% |
| PAYX Paychex Inc. | 2.29% | 429,657 | $62.5M | Add +0.4% |
| MCD McDonald's Corp. | 2.29% | 213,531 | $62.4M | Add +1.1% |
| LMT Lockheed Martin Corp. | 2.18% | 128,427 | $59.5M | Reduce -0.1% |
| FAST Fastenal Co. | 2.14% | 1,390,362 | $58.4M | Add +3.6% |
| WM Waste Management Inc. | 2.10% | 250,574 | $57.3M | Add +3.1% |
| MRSH Marsh & McLennan Cos | 2.03% | 253,348 | $55.4M | Add +0.5% |
| RTX RTX Corp. | 1.82% | 339,556 | $49.6M | Add +3.1% |
| WEC WEC Energy Group Inc. | 1.71% | 447,861 | $46.7M | Add +4.3% |
| UNH Unitedhealth Group Inc. | 1.67% | 146,160 | $45.6M | Add +32.9% |
| EXR Extra Space Storage Inc. | 1.64% | 302,452 | $44.6M | Add +1.8% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.40% | 395,894 | $38.2M | Reduce -1.4% |
| MRK Merck & Co. Inc. | 1.38% | 473,231 | $37.5M | Reduce -0.5% |
| WSO Watsco Inc. | 1.37% | 84,463 | $37.3M | Add +5564.9% |
| CVX Chevron Corp. | 1.07% | 202,960 | $29.1M | Reduce -20.4% |
| UPS United Parcel Service Class B | 1.06% | 285,678 | $28.8M | Add +1.1% |
| PEP Pepsico Inc. | 0.96% | 198,408 | $26.2M | Add +5.5% |
| NEAR iShares SH Dba ETF Usd Inc. | 0.95% | 504,799 | $25.8M | Reduce -11.9% |
| JPST JPMorgan Ultra-Short Income | 0.73% | 394,616 | $20.0M | Reduce -14.5% |
| LLY Eli Lilly & Co. | 0.65% | 22,767 | $17.7M | Reduce -3.6% |
| SCHG Schwab US Large-Cap Growth | 0.62% | 577,225 | $16.9M | Add +19.1% |
| AMZN Amazon.com Inc. | 0.59% | 72,875 | $16.0M | Reduce -0.5% |
| ADP Automatic Data Processing | 0.53% | 46,573 | $14.4M | Reduce -4.4% |
| V Visa Inc. Class A | 0.48% | 36,645 | $13.0M | Reduce -4.9% |
| NVDA Nvidia Corp. | 0.46% | 79,532 | $12.6M | Add +7.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.45% | 25,498 | $12.4M | Add +0.5% |
| GOOGL Alphabet Inc. Class A | 0.45% | 69,556 | $12.3M | Reduce -4.0% |
| MCO Moody's Corp. | 0.44% | 24,005 | $12.0M | Reduce -1.3% |
| MA Mastercard Inc. Class A | 0.41% | 19,707 | $11.1M | Reduce -4.0% |
| BLK BlackRock Inc. | 0.35% | 8,989 | $9.4M | Reduce -82.8% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.34% | 84,188 | $9.2M | Add +1.1% |
| VIG Vanguard Dividend Apprec ETF | 0.33% | 44,130 | $9.0M | Reduce -10.3% |
| ORLY O'reilly Automotive Inc. | 0.31% | 92,751 | $8.4M | Reduce -9.8% |
| INTU Intuit Inc. | 0.28% | 9,561 | $7.5M | Reduce -10.7% |
| NEE Nextera Energy Inc. | 0.27% | 105,899 | $7.4M | Reduce -8.1% |
| ECL Ecolab Inc. | 0.27% | 27,205 | $7.3M | Reduce -6.6% |
| AFL Aflac Inc. | 0.25% | 64,824 | $6.8M | Reduce -7.4% |
| AGG iShares Core U.S. Aggregate | 0.25% | 68,728 | $6.8M | Add +12.3% |
| SCHD Schwab US DVD Equity ETF | 0.24% | 250,587 | $6.6M | Add +3.9% |
| IJH iShares Core S&P Midcap ETF | 0.23% | 101,848 | $6.3M | Add +6.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.22% | 13,967 | $6.1M | Add +4.3% |
| CTAS Cintas Corp. | 0.21% | 25,737 | $5.7M | Reduce -1.0% |
| JNJ Johnson & Johnson | 0.21% | 37,506 | $5.7M | Reduce -10.3% |
| MSCI MSCI Inc. | 0.20% | 9,567 | $5.5M | Reduce -4.2% |
| MSI Motorola Solutions Inc. | 0.19% | 12,615 | $5.3M | Reduce -4.3% |
| CSCO Cisco Systems Inc. | 0.19% | 76,093 | $5.3M | Reduce -8.2% |
| KNSL Kinsale Capital Group Inc. | 0.19% | 10,873 | $5.3M | Reduce -5.9% |
| META Meta Platforms Inc. Class A | 0.18% | 6,825 | $5.0M | Add +11.0% |
| NFLX Netflix Inc. | 0.18% | 3,751 | $5.0M | Reduce -3.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 21,408 | $4.8M | Add +10.4% |
| MEAR Ishrs Short Mat Muni Act ETF | 0.18% | 95,084 | $4.8M | Add +29.8% |
| GE General Electric filed as GE AEROSPACE | 0.17% | 18,408 | $4.7M | Add +0.2% |
| PGR Progressive Corp. | 0.17% | 17,519 | $4.7M | Add +9.2% |
| CDNS Cadence Design SYS Inc. | 0.17% | 14,611 | $4.5M | Reduce -1.7% |
| UBER Uber Technologies Inc. | 0.16% | 45,661 | $4.3M | Add +6.4% |
| MELI MercadoLibre Inc. | 0.16% | 1,623 | $4.2M | Add +1.1% |
| SGI Somnigroup International Inc. | 0.16% | 62,079 | $4.2M | Add +11.0% |
| CMI Cummins Inc. | 0.15% | 12,872 | $4.2M | Reduce -10.1% |
| BKNG Booking Holdings Inc. | 0.15% | 701 | $4.1M | Add +16.4% |
| RLI Rli Corp. | 0.15% | 56,160 | $4.1M | Add +7.6% |
| BMI Badger Meter Inc. | 0.15% | 16,469 | $4.0M | Add +0.7% |
| VYM Vanguard High DVD Yield ETF | 0.15% | 30,150 | $4.0M | Reduce -1.5% |
| CPRT Copart Inc. | 0.15% | 80,893 | $4.0M | Reduce -8.9% |
| SCHB Schwab US Broad Market ETF | 0.14% | 162,204 | $3.9M | Add +8.5% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.14% | 3,695 | $3.8M | Reduce -7.3% |
| IJR iShares Core S&P Small-Cap E | 0.14% | 34,586 | $3.8M | Reduce -14.9% |
| APP AppLovin Corp. Class A | 0.14% | 10,775 | $3.8M | Add +30.9% |
| XLK SS Technology Select Sector | 0.13% | 14,042 | $3.6M | Add +20.1% |
| NOC Northrop Grumman Corp. | 0.13% | 7,015 | $3.5M | Reduce -16.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.13% | 5,597 | $3.5M | Reduce -30.4% |
| ADBE Adobe Inc. | 0.13% | 8,908 | $3.4M | Reduce -14.8% |
| APD Air Products & Chemicals Inc. | 0.13% | 12,196 | $3.4M | Reduce -5.1% |
| CINF Cincinnati Financial Corp. | 0.12% | 22,307 | $3.3M | Reduce -8.2% |
| AZO AutoZone Inc. | 0.12% | 855 | $3.2M | New |
| ABT Abbott Laboratories | 0.11% | 21,775 | $3.0M | Reduce -6.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.11% | 9,987 | $2.9M | Add +2.3% |
| BMY Bristol-Myers Squibb Co. | 0.10% | 58,639 | $2.7M | Reduce -4.6% |
| MUSA Murphy USA Inc. | 0.10% | 6,578 | $2.7M | New |
| KO The Coca-Cola Co. | 0.10% | 36,569 | $2.6M | Reduce -25.1% |
| RSG Republic Services Inc. | 0.09% | 9,971 | $2.5M | No change |
| AMGN Amgen Inc. | 0.09% | 8,513 | $2.4M | Reduce -2.3% |
| VLO Valero Energy Corp. | 0.09% | 17,649 | $2.4M | Reduce -4.6% |
| COR Cencora Inc. | 0.07% | 6,647 | $2.0M | Reduce -37.8% |
| VOO Vanguard S&P 500 ETF | 0.07% | 3,432 | $1.9M | Reduce -6.8% |
| NOBL Proshares S&P 500 Dividend A | 0.07% | 19,332 | $1.9M | Reduce -22.0% |
Portfolio Sells Q1 2025 → Q2 2025
| BLK BlackRock Inc. | Reduce -82.8% | 0.35% | −1.53 |
| ICSH iShares Ultra Short Duration | Reduce -10.7% | 4.07% | −0.62 |
| ABBV Abbvie Inc. | Reduce -0.7% | 3.25% | −0.55 |
| CVX Chevron Corp. | Reduce -20.4% | 1.07% | −0.55 |
| XOM Exxon Mobil Corp. | Reduce -8.0% | 2.30% | −0.54 |
| AAPL Apple Inc. | Reduce -0.1% | 4.23% | −0.49 |
| MRK Merck & Co. Inc. | Reduce -0.5% | 1.38% | −0.24 |
| XLE SS Energy Select Sector | Reduce -70.6% | 0.06% | −0.17 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -11.9% | 0.95% | −0.15 |
| JPST JPMorgan Ultra-Short Income | Reduce -14.5% | 0.73% | −0.15 |
| LLY Eli Lilly & Co. | Reduce -3.6% | 0.65% | −0.09 |
| UNP Union Pacific Corp. | Reduce -60.8% | 0.05% | −0.08 |
| ORLY O'reilly Automotive Inc. | Reduce -9.8% | 0.31% | −0.06 |
| JNJ Johnson & Johnson | Reduce -10.3% | 0.21% | −0.05 |
| LII Lennox International Inc. | Reduce -43.8% | 0.06% | −0.05 |
| CPRT Copart Inc. | Reduce -8.9% | 0.15% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -30.4% | 0.13% | −0.04 |
| AFL Aflac Inc. | Reduce -7.4% | 0.25% | −0.04 |
| BMY Bristol-Myers Squibb Co. | Reduce -4.6% | 0.10% | −0.04 |
| COR Cencora Inc. | Reduce -37.8% | 0.07% | −0.04 |
| NEE Nextera Energy Inc. | Reduce -8.1% | 0.27% | −0.04 |
| KO The Coca-Cola Co. | Reduce -25.1% | 0.10% | −0.04 |
| ADP Automatic Data Processing | Reduce -4.4% | 0.53% | −0.04 |
| NOC Northrop Grumman Corp. | Reduce -16.3% | 0.13% | −0.03 |
| V Visa Inc. Class A | Reduce -4.9% | 0.48% | −0.03 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -42.1% | 0.06% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -10.3% | 0.33% | −0.03 |
| GS Goldman Sachs Group Inc. | Reduce -47.4% | 0.05% | −0.03 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -36.9% | 0.04% | −0.03 |
| ADBE Adobe Inc. | Reduce -14.8% | 0.13% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -25.0% | 0.05% | −0.02 |
| GVI iShares Intermediate Governm | Sold out | 0.00% | −0.02 |
| NOBL Proshares S&P 500 Dividend A | Reduce -22.0% | 0.07% | −0.02 |
| MSI Motorola Solutions Inc. | Reduce -4.3% | 0.19% | −0.02 |
| IJR iShares Core S&P Small-Cap E | Reduce -14.9% | 0.14% | −0.02 |
| MTD Mettler-Toledo International | Sold out | 0.00% | −0.02 |
| KNSL Kinsale Capital Group Inc. | Reduce -5.9% | 0.19% | −0.02 |
| MA Mastercard Inc. Class A | Reduce -4.0% | 0.41% | −0.02 |
| APD Air Products & Chemicals Inc. | Reduce -5.1% | 0.13% | −0.02 |
| AMGN Amgen Inc. | Reduce -2.3% | 0.09% | −0.02 |
| DUK Duke Energy Corp. | Reduce -12.6% | 0.07% | −0.01 |
| CNP Centerpoint Energy Inc. | Sold out | 0.00% | −0.01 |
| CMI Cummins Inc. | Reduce -10.1% | 0.15% | −0.01 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -46.9% | 0.02% | −0.01 |
| EFX Equifax Inc. | Reduce -38.7% | 0.02% | −0.01 |
| MMKT Texas Cap Govt MNY MRKT ETF | Sold out | 0.00% | −0.01 |
| VLUE iShares MSCI USA Value Facto | Sold out | 0.00% | −0.01 |
| CSX CSX Corp. | Reduce -29.3% | 0.04% | −0.01 |
| CINF Cincinnati Financial Corp. | Reduce -8.2% | 0.12% | −0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Sold out | 0.00% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| AVGO Broadcom Inc. | Add +0.5% | 5.66% | +2.14 |
| WSO Watsco Inc. | Add +5564.9% | 1.37% | +1.34 |
| XLC SS Comm Select Sector SPDR | Add +4.7% | 4.18% | +0.53 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 3.68% | +0.48 |
| TXN Texas Instruments Inc. | Add +1.5% | 2.53% | +0.31 |
| FAST Fastenal Co. | Add +3.6% | 2.14% | +0.18 |
| RTX RTX Corp. | Add +3.1% | 1.82% | +0.17 |
| SCHG Schwab US Large-Cap Growth | Add +19.1% | 0.62% | +0.16 |
| NVDA Nvidia Corp. | Add +7.4% | 0.46% | +0.16 |
| AZO AutoZone Inc. | New | 0.12% | +0.12 |
| MUSA Murphy USA Inc. | New | 0.10% | +0.10 |
| TSM Taiwan Semiconductor-SP ADR | Add +10.4% | 0.18% | +0.06 |
| APP AppLovin Corp. Class A | Add +30.9% | 0.14% | +0.06 |
| META Meta Platforms Inc. Class A | Add +11.0% | 0.18% | +0.05 |
| BKNG Booking Holdings Inc. | Add +16.4% | 0.15% | +0.04 |
| CME Cme Group Inc. | Add +0.8% | 2.35% | +0.04 |
| XLK SS Technology Select Sector | Add +20.1% | 0.13% | +0.04 |
| UBER Uber Technologies Inc. | Add +6.4% | 0.16% | +0.04 |
| MELI MercadoLibre Inc. | Add +1.1% | 0.16% | +0.04 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +4.3% | 0.22% | +0.04 |
| MEAR Ishrs Short Mat Muni Act ETF | Add +29.8% | 0.18% | +0.04 |
| GE General Electric | Add +0.2% | 0.17% | +0.04 |
| BMI Badger Meter Inc. | Add +0.7% | 0.15% | +0.03 |
| SGI Somnigroup International Inc. | Add +11.0% | 0.16% | +0.03 |
| IJH iShares Core S&P Midcap ETF | Add +6.8% | 0.23% | +0.02 |
| AGG iShares Core U.S. Aggregate | Add +12.3% | 0.25% | +0.02 |
| SCHB Schwab US Broad Market ETF | Add +8.5% | 0.14% | +0.02 |
| SCHF Schwab Intl Equity ETF | Add +35.7% | 0.06% | +0.02 |
| IBM Intl Business Machines Corp. | Add +2.3% | 0.11% | +0.02 |
| GEV GE Vernova Inc. | New | 0.01% | +0.01 |
| USMV iShares MSCI USA Min Vol Fac | New | 0.01% | +0.01 |
| TSLA Tesla Inc. | Add +15.4% | 0.03% | +0.01 |
| QCOM Qualcomm Inc. | New | 0.01% | +0.01 |
| TD Toronto-Dominion Bank | Add +3.7% | 0.04% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.01% | +0.01 |
| GOOG Alphabet Inc. Class C | Add +0.2% | 0.07% | +0.01 |
| IVE iShares S&P 500 Value ETF | Add +26.1% | 0.03% | +0.01 |
| RSP Invesco S&P 500 Equal Weight | Add +24.7% | 0.02% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.4% | 0.03% | +0.00 |
| VZ Verizon Communications Inc. | Add +17.1% | 0.06% | +0.00 |
| EMR Emerson Electric Co. | Add +0.1% | 0.03% | +0.00 |
| WHR Whirlpool Corp. | Add +5.8% | 0.03% | +0.00 |
| HBAN Huntington Bancshares Inc. | Add +2.2% | 0.04% | +0.00 |
| SCHA Schwab US Small-Cap ETF | Add +6.2% | 0.04% | +0.00 |
| MCK McKesson Corp. | Add +26.1% | 0.01% | +0.00 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +2.1% | 0.01% | +0.00 |
| HON Honeywell International Inc. | Add +1.8% | 0.03% | +0.00 |
| T AT&T Inc. | Add +6.1% | 0.04% | +0.00 |
| D Dominion Energy Inc. | Add +4.5% | 0.04% | +0.00 |
| DIA SS SPDR Dow Jones Indus Avg | Add +6.6% | 0.01% | +0.00 |
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 |