Donaldson Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 30, 2026), Donaldson Capital Management, LLC reported 233 stock positions worth $3.1 billion. Its top holding was Karman (KRMN) at 9.1% of the portfolio, followed by Broadcom (AVGO, 5.0%) and Apple (AAPL, 4.7%). Compared with Q4 2025, it opened 13 new positions, sold out of 11, added to 90 and reduced 102. The biggest buy was Paccar (PCAR, shares +110%) and the biggest sale Exxon Mobil (XOM, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- EVANSVILLE, IN
- CIK
- 0001487438
- Portfolio Value
- $3.1B (Q1 2026)
- SEC Filing
- 0001487438-26-000003 ↗ filed Apr 30, 2026
Holdings Value
Holdings 233 stocks · $3.1B
| KRMN Karman Holdings Inc. | 9.08% | 3,501,433 | $280.3M | No change |
| AVGO Broadcom Inc. | 4.98% | 496,766 | $153.8M | Add +4.2% |
| AAPL Apple Inc. | 4.65% | 565,829 | $143.6M | Add +0.1% |
| XLC SS Comm Select Sector SPDR | 4.10% | 1,142,583 | $126.7M | Add +0.2% |
| ABBV Abbvie Inc. | 3.40% | 482,055 | $104.8M | Add +0.7% |
| MSFT Microsoft Corp. | 3.33% | 277,341 | $102.7M | Add +0.9% |
| JPM JPMorgan Chase & Co. | 3.26% | 342,320 | $100.7M | Reduce -0.9% |
| SOXX iShares Semiconductor ETF | 3.21% | 301,410 | $99.1M | Add +1.1% |
| ICSH iShares Ultra Short Duration | 3.16% | 1,925,899 | $97.5M | Reduce -10.4% |
| MRK Merck & Co. Inc. | 3.06% | 785,160 | $94.4M | Add +0.9% |
| COST Costco Wholesale Corp. | 2.69% | 83,273 | $83.0M | Reduce -0.8% |
| MS Morgan Stanley | 2.47% | 463,707 | $76.3M | Add +0.3% |
| RTX RTX Corp. | 2.41% | 384,999 | $74.3M | Add +1.4% |
| LLY Eli Lilly & Co. | 2.20% | 73,963 | $68.0M | Add +8.9% |
| C Citigroup Inc. | 2.16% | 587,965 | $66.7M | Add +1.4% |
| MCD McDonald's Corp. | 2.13% | 211,239 | $65.7M | Add +0.1% |
| FAST Fastenal Co. | 2.11% | 1,401,992 | $65.1M | Add +0.6% |
| GS Goldman Sachs Group Inc. | 2.06% | 75,080 | $63.5M | Add +2.3% |
| HD Home Depot Inc. | 2.05% | 192,335 | $63.3M | Reduce -0.2% |
| WSO Watsco Inc. | 1.92% | 162,639 | $59.2M | Add +48.0% |
| PCAR Paccar Inc. | 1.82% | 485,342 | $56.1M | Add +109.5% |
| GD General Dynamics Corp. | 1.74% | 156,114 | $53.6M | Add +8.9% |
| PAYX Paychex Inc. | 1.66% | 555,849 | $51.2M | Add +36.5% |
| WEC WEC Energy Group Inc. | 1.66% | 442,053 | $51.2M | Add +1.1% |
| COR Cencora Inc. | 1.41% | 138,088 | $43.4M | Add +0.7% |
| CVX Chevron Corp. | 1.30% | 194,602 | $40.3M | Add +0.2% |
| XEL Xcel Energy Inc. | 1.25% | 483,726 | $38.4M | Add +5.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.24% | 157,859 | $38.3M | Reduce -2.3% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.17% | 400,523 | $36.1M | Add +0.1% |
| CTAS Cintas Corp. | 1.08% | 197,348 | $33.4M | Add +1101.1% |
| ETN Eaton Corp. PLC | 0.83% | 71,252 | $25.5M | Reduce -0.3% |
| SCHG Schwab US Large-Cap Growth | 0.80% | 848,721 | $24.7M | Add +22.1% |
| JPST JPMorgan Ultra-Short Income | 0.70% | 424,174 | $21.5M | Reduce -2.8% |
| NEAR iShares SH Dba ETF Usd Inc. | 0.68% | 412,128 | $21.0M | Reduce -3.3% |
| GOOGL Alphabet Inc. Class A | 0.61% | 65,136 | $18.7M | Reduce -0.6% |
| AMZN Amazon.com Inc. | 0.56% | 83,636 | $17.4M | Add +3.2% |
| XOM Exxon Mobil Corp. | 0.55% | 100,255 | $17.0M | Reduce -82.7% |
| NVDA Nvidia Corp. | 0.50% | 87,599 | $15.3M | Reduce -2.4% |
| AGG iShares Core U.S. Aggregate | 0.48% | 147,842 | $14.7M | Add +1.0% |
| V Visa Inc. Class A | 0.45% | 46,326 | $14.0M | Add +3.1% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.42% | 120,112 | $13.1M | Add +0.2% |
| MCO Moody's Corp. | 0.42% | 29,786 | $13.0M | Add +2.7% |
| MA Mastercard Inc. Class A | 0.40% | 24,915 | $12.4M | Add +5.4% |
| VOO Vanguard S&P 500 ETF | 0.36% | 18,796 | $11.2M | Add +3.9% |
| LMT Lockheed Martin Corp. | 0.33% | 17,016 | $10.3M | Reduce -3.4% |
| VIG Vanguard Dividend Apprec ETF | 0.33% | 47,733 | $10.3M | Add +2.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.29% | 26,320 | $8.9M | Reduce -16.4% |
| UBER Uber Technologies Inc. | 0.29% | 123,522 | $8.9M | Add +24.3% |
| MELI MercadoLibre Inc. | 0.29% | 5,090 | $8.8M | Add +30.3% |
| META Meta Platforms Inc. Class A | 0.28% | 15,261 | $8.7M | Add +10.8% |
| IJH iShares Core S&P Midcap ETF | 0.28% | 128,008 | $8.6M | Add +8.6% |
| SCHD Schwab US DVD Equity ETF | 0.28% | 280,635 | $8.6M | Add +12.2% |
| LPLA LPL Financial Holdings Inc. | 0.28% | 28,398 | $8.5M | New |
| NEE Nextera Energy Inc. | 0.27% | 90,908 | $8.4M | Reduce -3.3% |
| JNJ Johnson & Johnson | 0.27% | 34,445 | $8.4M | Reduce -3.5% |
| IBKR Interactive Brokers Gro Class A | 0.27% | 124,896 | $8.4M | New |
| APP AppLovin Corp. Class A | 0.27% | 20,895 | $8.3M | Add +42.2% |
| XLK SS Technology Select Sector | 0.27% | 62,088 | $8.3M | Reduce -12.1% |
| MKL Markel Group Inc. | 0.26% | 4,227 | $8.1M | New |
| SGI Somnigroup International Inc. | 0.26% | 107,483 | $7.9M | Add +15.1% |
| MU Micron Technology Inc. | 0.24% | 21,657 | $7.3M | New |
| HDB HDFC Bank Ltd.-ADR | 0.24% | 292,276 | $7.3M | Add +26.4% |
| BLK BlackRock Inc. | 0.23% | 7,347 | $7.1M | Reduce -5.0% |
| ALL Allstate Corp. | 0.22% | 33,053 | $6.9M | Reduce -8.9% |
| ADP Automatic Data Processing | 0.22% | 33,656 | $6.8M | Reduce -9.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 13,225 | $6.3M | Reduce -9.5% |
| CMI Cummins Inc. | 0.21% | 11,766 | $6.3M | Reduce -0.7% |
| CSCO Cisco Systems Inc. | 0.20% | 78,774 | $6.1M | Add +3.8% |
| AFL Aflac Inc. | 0.19% | 52,735 | $5.8M | Reduce -7.4% |
| ORLY O'reilly Automotive Inc. | 0.18% | 61,661 | $5.7M | Reduce -14.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.18% | 12,959 | $5.7M | Reduce -0.6% |
| SCHB Schwab US Broad Market ETF | 0.18% | 220,856 | $5.5M | Add +14.6% |
| CME Cme Group Inc. | 0.17% | 17,975 | $5.3M | Reduce -15.9% |
| ACN Accenture PLC Class A | 0.17% | 25,919 | $5.1M | Reduce -41.6% |
| ECL Ecolab Inc. | 0.16% | 18,477 | $4.9M | Reduce -11.5% |
| VYM Vanguard High DVD Yield ETF | 0.16% | 32,950 | $4.9M | Add +13.2% |
| IJR iShares Core S&P Small-Cap E | 0.14% | 35,888 | $4.5M | Add +3.1% |
| VLO Valero Energy Corp. | 0.14% | 17,907 | $4.4M | Add +4.9% |
| NOC Northrop Grumman Corp. | 0.14% | 6,137 | $4.2M | Reduce -5.6% |
| MEAR Ishrs Short Mat Muni Act ETF | 0.13% | 79,992 | $4.0M | Add +8.4% |
| BMY Bristol-Myers Squibb Co. | 0.13% | 65,027 | $3.9M | Add +6.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.11% | 5,392 | $3.5M | Reduce -3.3% |
| CINF Cincinnati Financial Corp. | 0.11% | 21,832 | $3.4M | Reduce -0.3% |
| IVV iShares Core S&P 500 ETF | 0.11% | 5,191 | $3.4M | Reduce -3.8% |
| APH Amphenol Corp. Class A | 0.11% | 26,504 | $3.3M | Reduce -12.3% |
| BAB Invesco Taxable Municipal Bo | 0.11% | 121,282 | $3.3M | Add +1.6% |
| GOOG Alphabet Inc. Class C | 0.10% | 10,885 | $3.1M | Add +5.5% |
| APD Air Products & Chemicals Inc. | 0.10% | 10,476 | $3.0M | Reduce -6.3% |
| TXN Texas Instruments Inc. | 0.10% | 15,308 | $3.0M | Reduce -27.7% |
| AMGN Amgen Inc. | 0.09% | 8,320 | $2.9M | Reduce -1.4% |
| CAT Caterpillar Inc. | 0.09% | 4,082 | $2.9M | Reduce -1.3% |
| KO The Coca-Cola Co. | 0.09% | 35,453 | $2.7M | Reduce -1.3% |
| MSI Motorola Solutions Inc. | 0.09% | 6,102 | $2.6M | Reduce -23.1% |
| PEP Pepsico Inc. | 0.09% | 16,938 | $2.6M | Reduce -16.6% |
| DUK Duke Energy Corp. | 0.08% | 19,315 | $2.5M | Add +11.3% |
| SO The Southern Co. | 0.08% | 25,834 | $2.5M | Reduce -95.5% |
| MUB iShares National Muni Bond E | 0.08% | 23,125 | $2.5M | No change |
| VZ Verizon Communications Inc. | 0.08% | 48,579 | $2.4M | Add +7.1% |
| GILD Gilead Sciences Inc. | 0.08% | 17,167 | $2.4M | Add +13.0% |
| SCHF Schwab Intl Equity ETF | 0.07% | 89,527 | $2.2M | Add +12.7% |
Options reported separately and not counted above: QQQ puts ($3.5M), IWF puts ($298K).
Portfolio Sells Q4 2025 → Q1 2026
| XOM Exxon Mobil Corp. | Reduce -82.7% | 0.55% | −1.66 |
| SO The Southern Co. | Reduce -95.5% | 0.08% | −1.50 |
| ICSH iShares Ultra Short Duration | Reduce -10.4% | 3.16% | −0.30 |
| IBM Intl Business Machines Corp. | Reduce -2.3% | 1.24% | −0.28 |
| JPM JPMorgan Chase & Co. | Reduce -0.9% | 3.26% | −0.28 |
| GE General Electric | Reduce -93.2% | 0.02% | −0.28 |
| NU Nu Holdings Ltd./Cayman Isl-A | Sold out | 0.00% | −0.27 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −0.27 |
| PGR Progressive Corp. | Reduce -91.3% | 0.02% | −0.26 |
| ACN Accenture PLC Class A | Reduce -41.6% | 0.17% | −0.21 |
| INTU Intuit Inc. | Reduce -81.6% | 0.02% | −0.14 |
| UNH Unitedhealth Group Inc. | Reduce -77.8% | 0.03% | −0.12 |
| ADP Automatic Data Processing | Reduce -9.3% | 0.22% | −0.08 |
| HD Home Depot Inc. | Reduce -0.2% | 2.05% | −0.06 |
| XLK SS Technology Select Sector | Reduce -12.1% | 0.27% | −0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -0.6% | 0.61% | −0.05 |
| NVDA Nvidia Corp. | Reduce -2.4% | 0.50% | −0.04 |
| BLK BlackRock Inc. | Reduce -5.0% | 0.23% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -9.5% | 0.21% | −0.03 |
| CDNS Cadence Design SYS Inc. | Reduce -21.7% | 0.07% | −0.03 |
| ORLY O'reilly Automotive Inc. | Reduce -14.6% | 0.18% | −0.02 |
| APH Amphenol Corp. Class A | Reduce -12.3% | 0.11% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -27.7% | 0.10% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.6% | 0.18% | −0.02 |
| ABT Abbott Laboratories | Reduce -8.4% | 0.06% | −0.02 |
| ROL Rollins Inc. | Reduce -19.8% | 0.05% | −0.02 |
| ALL Allstate Corp. | Reduce -8.9% | 0.22% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -16.4% | 0.29% | −0.02 |
| ECL Ecolab Inc. | Reduce -11.5% | 0.16% | −0.01 |
| AZO AutoZone Inc. | Reduce -25.0% | 0.05% | −0.01 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -3.3% | 0.68% | −0.01 |
| CME Cme Group Inc. | Reduce -15.9% | 0.17% | −0.01 |
| AFL Aflac Inc. | Reduce -7.4% | 0.19% | −0.01 |
| MSI Motorola Solutions Inc. | Reduce -23.1% | 0.09% | −0.01 |
| DFAC Dimensional US Core Equity 2 | Reduce -35.0% | 0.02% | −0.01 |
| DIS The Walt Disney Co. | Reduce -26.1% | 0.02% | −0.01 |
| BA The Boeing Co. | Sold out | 0.00% | −0.01 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.01 |
| XLF SS Financial Select Sector | Reduce -17.1% | 0.03% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -3.8% | 0.11% | −0.01 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.01 |
| PEP Pepsico Inc. | Reduce -16.6% | 0.09% | −0.01 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.3% | 0.11% | −0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -2.4% | 0.02% | −0.01 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.01 |
| SHW The Sherwin-Williams Co. | Sold out | 0.00% | −0.01 |
| NKE Nike Inc. Class B | Reduce -15.3% | 0.02% | −0.01 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| PCAR Paccar Inc. | Add +109.5% | 1.82% | +1.01 |
| CTAS Cintas Corp. | Add +1101.1% | 1.08% | +0.98 |
| WSO Watsco Inc. | Add +48.0% | 1.92% | +0.74 |
| MRK Merck & Co. Inc. | Add +0.9% | 3.06% | +0.46 |
| CVX Chevron Corp. | Add +0.2% | 1.30% | +0.36 |
| SOXX iShares Semiconductor ETF | Add +1.1% | 3.21% | +0.35 |
| FAST Fastenal Co. | Add +0.6% | 2.11% | +0.33 |
| LPLA LPL Financial Holdings Inc. | New | 0.28% | +0.28 |
| IBKR Interactive Brokers Gro Class A | New | 0.27% | +0.27 |
| MKL Markel Group Inc. | New | 0.26% | +0.26 |
| MU Micron Technology Inc. | New | 0.24% | +0.24 |
| PAYX Paychex Inc. | Add +36.5% | 1.66% | +0.21 |
| GD General Dynamics Corp. | Add +8.9% | 1.74% | +0.20 |
| RTX RTX Corp. | Add +1.4% | 2.41% | +0.19 |
| WEC WEC Energy Group Inc. | Add +1.1% | 1.66% | +0.19 |
| XEL Xcel Energy Inc. | Add +5.1% | 1.25% | +0.16 |
| SCHG Schwab US Large-Cap Growth | Add +22.1% | 0.80% | +0.08 |
| MCD McDonald's Corp. | Add +0.1% | 2.13% | +0.08 |
| SCHD Schwab US DVD Equity ETF | Add +12.2% | 0.28% | +0.06 |
| VLO Valero Energy Corp. | Add +4.9% | 0.14% | +0.06 |
| TGT Target Corp. | New | 0.04% | +0.04 |
| MELI MercadoLibre Inc. | Add +30.3% | 0.29% | +0.03 |
| IJH iShares Core S&P Midcap ETF | Add +8.6% | 0.28% | +0.03 |
| UBER Uber Technologies Inc. | Add +24.3% | 0.29% | +0.03 |
| VYM Vanguard High DVD Yield ETF | Add +13.2% | 0.16% | +0.03 |
| BMY Bristol-Myers Squibb Co. | Add +6.4% | 0.13% | +0.02 |
| VZ Verizon Communications Inc. | Add +7.1% | 0.08% | +0.02 |
| OKE Oneok Inc. | Add +12.0% | 0.07% | +0.02 |
| SCHB Schwab US Broad Market ETF | Add +14.6% | 0.18% | +0.02 |
| GILD Gilead Sciences Inc. | Add +13.0% | 0.08% | +0.02 |
| DUK Duke Energy Corp. | Add +11.3% | 0.08% | +0.02 |
| ENB Enbridge Inc. | Add +10.9% | 0.07% | +0.01 |
| MEAR Ishrs Short Mat Muni Act ETF | Add +8.4% | 0.13% | +0.01 |
| CSCO Cisco Systems Inc. | Add +3.8% | 0.20% | +0.01 |
| PFE Pfizer Inc. | Add +18.0% | 0.04% | +0.01 |
| SCHX Schwab US Large-Cap ETF | New | 0.01% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +3.1% | 0.14% | +0.01 |
| SCHF Schwab Intl Equity ETF | Add +12.7% | 0.07% | +0.01 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +11.3% | 0.07% | +0.01 |
| AGG iShares Core U.S. Aggregate | Add +1.0% | 0.48% | +0.01 |
| ITA iShares U.S. Aerospace & Def | New | 0.01% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +67.7% | 0.02% | +0.01 |
| T AT&T Inc. | Add +13.0% | 0.04% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | New | 0.01% | +0.01 |
| D Dominion Energy Inc. | Add +13.5% | 0.05% | +0.01 |
| WMT Walmart Inc. | Add +4.0% | 0.06% | +0.01 |
| PSX Phillips 66 | New | 0.01% | +0.01 |
| C Citigroup Inc. | Add +1.4% | 2.16% | +0.01 |
| ISRG Intuitive Surgical Inc. | New | 0.01% | +0.01 |
| PNC PNC Financial Services Group | Add +12.1% | 0.06% | +0.01 |
Options Activity Q4 2025 → Q1 2026
| QQQ Invesco QQQ Trust Series 1 | put | New | 6,000 | $3.5M |
| IWF iShares Russell 1000 Growth | put | New | 700 | $298K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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 |