Johnson Investment Counsel Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Johnson Investment Counsel Inc. reported 817 stock positions worth $11.9 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 7.7% of the portfolio, followed by iShares Russell 1000 ETF (IWB, 4.4%) and Apple (AAPL, 4.1%). Compared with Q2 2025, it opened 69 new positions, sold out of 58, added to 345 and reduced 274. The biggest buy was Baker Hughes (BKR, shares +10225%) and the biggest sale Procter & Gamble (PG, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- Cincinnati, OH
- CIK
- 0000821197
- Portfolio Value
- $11.9B (Q3 2025)
- SEC Filing
- 0002085853-25-000236 ↗ filed Nov 6, 2025
Holdings Value
Holdings 817 stocks · $11.9B
| IVV iShares Core S&P 500 ETF | 7.66% | 1,366,550 | $914.6M | Add +1.8% |
| IWB iShares Russell 1000 ETF | 4.36% | 1,426,322 | $521.3M | Add +1.5% |
| AAPL Apple Inc. | 4.05% | 1,900,050 | $483.8M | Reduce -0.3% |
| MSFT Microsoft Corp. | 3.60% | 829,466 | $429.6M | Add +0.7% |
| PG The Procter & Gamble Co. | 2.97% | 2,306,381 | $354.4M | Reduce -0.5% |
| GOOGL Alphabet Inc. Class A | 2.41% | 1,183,389 | $287.7M | Reduce -4.6% |
| IWR iShares Russell Mid-Cap ETF | 2.16% | 2,671,300 | $257.9M | Add +2.2% |
| CINF Cincinnati Financial Corp. | 1.86% | 1,405,680 | $222.2M | Add +2.8% |
| AMZN Amazon.com Inc. | 1.69% | 920,989 | $202.2M | Add +0.1% |
| WMB Williams Cos Inc. | 1.63% | 3,072,230 | $194.6M | Reduce -0.7% |
| ILOW AB Internal Low Volat Eq ETF filed as AB ACTIVE ETFS INC | 1.63% | 4,574,505 | $194.5M | Add +10.2% |
| VEU Vanguard Ftse All-World Ex-U | 1.50% | 2,518,779 | $179.8M | Add +9.0% |
| NVT Nvent Electric PLC | 1.42% | 1,717,696 | $169.4M | Reduce -1.7% |
| MA Mastercard Inc. Class A | 1.33% | 279,241 | $158.8M | Reduce -0.4% |
| NDAQ Nasdaq Inc. | 1.17% | 1,577,127 | $139.5M | Reduce -15.6% |
| APH Amphenol Corp. Class A | 1.14% | 1,100,064 | $136.1M | Reduce -2.6% |
| V Visa Inc. Class A | 1.14% | 397,472 | $135.7M | Add +11.3% |
| LNT Alliant Energy Corp. | 1.12% | 1,979,718 | $133.5M | Add +2.9% |
| SCHX Schwab US Large-Cap ETF | 1.11% | 5,023,680 | $132.3M | Add +2.8% |
| AEP American Electric Power | 1.10% | 1,171,506 | $131.8M | Add +0.1% |
| DHR Danaher Corp. | 1.10% | 664,705 | $131.8M | Add +2.9% |
| ABT Abbott Laboratories | 1.09% | 975,877 | $130.7M | Reduce -1.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.07% | 885,902 | $128.0M | Reduce -0.6% |
| CVX Chevron Corp. | 1.04% | 799,534 | $124.2M | Reduce -4.6% |
| WM Waste Management Inc. | 1.02% | 553,840 | $122.3M | Add +0.8% |
| USMV iShares MSCI USA Min Vol Fac | 1.02% | 1,276,772 | $121.5M | Add +1.0% |
| COR Cencora Inc. | 1.02% | 388,269 | $121.3M | Reduce -2.8% |
| AXS Axis Capital Holdings Ltd. | 0.98% | 1,222,932 | $117.2M | Add +0.5% |
| VEA Vanguard Ftse Developed ETF | 0.95% | 1,902,976 | $114.0M | Add +10.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.91% | 390,669 | $109.1M | Reduce -0.5% |
| ADI Analog Devices Inc. | 0.88% | 429,780 | $105.6M | Add +0.5% |
| ASML ASML Holding NV-NY Reg SHS | 0.84% | 103,143 | $99.9M | Add +2.3% |
| WTW Willis Towers Watson PLC | 0.83% | 288,448 | $99.6M | Reduce -0.2% |
| KO The Coca-Cola Co. | 0.83% | 1,491,381 | $98.9M | Add +0.6% |
| ACN Accenture PLC Class A | 0.81% | 394,760 | $97.3M | Reduce -2.7% |
| MCD McDonald's Corp. | 0.81% | 317,788 | $96.6M | Add +0.0% |
| QUAL iShares MSCI USA Quality Fac | 0.78% | 480,655 | $93.5M | Add +1.4% |
| MRSH Marsh & McLennan Cos | 0.77% | 456,734 | $92.0M | Add +0.9% |
| HON Honeywell International Inc. | 0.73% | 412,983 | $86.9M | Reduce -0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.73% | 130,482 | $86.9M | Reduce -0.2% |
| AFG American Financial Group Inc. | 0.72% | 591,657 | $86.2M | Reduce -1.8% |
| ITW Illinois Tool Works | 0.70% | 320,202 | $83.5M | Reduce -0.0% |
| ROP Roper Technologies Inc. | 0.68% | 162,291 | $80.9M | Add +2.8% |
| COST Costco Wholesale Corp. | 0.66% | 84,919 | $78.6M | Reduce -0.3% |
| LOW Lowe's Cos Inc. | 0.66% | 312,463 | $78.5M | Add +0.3% |
| PEP Pepsico Inc. | 0.65% | 555,743 | $78.0M | Add +1.5% |
| WMT Walmart Inc. | 0.65% | 755,338 | $77.8M | Reduce -1.1% |
| SYK Stryker Corp. | 0.65% | 209,934 | $77.6M | Add +2.7% |
| NDSN Nordson Corp. | 0.64% | 337,659 | $76.6M | Reduce -0.2% |
| NVDA Nvidia Corp. | 0.63% | 401,235 | $74.9M | Add +3.4% |
| JPM JPMorgan Chase & Co. | 0.60% | 229,006 | $72.2M | Reduce -0.5% |
| INTU Intuit Inc. | 0.59% | 103,839 | $70.9M | Add +25.1% |
| ZTS Zoetis Inc. | 0.59% | 482,858 | $70.7M | Reduce -1.4% |
| FHN First Horizon Corp. | 0.59% | 3,119,409 | $70.5M | Reduce -1.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.58% | 114,610 | $68.8M | Add +4.7% |
| GOOG Alphabet Inc. Class C | 0.53% | 262,191 | $63.9M | Add +0.1% |
| TSLA Tesla Inc. | 0.53% | 142,462 | $63.4M | Add +2.0% |
| APO Apollo Global Management Inc. | 0.48% | 433,964 | $57.8M | Add +31.3% |
| IWP iShares Russell Mid-Cap Grow | 0.48% | 402,757 | $57.4M | Reduce -0.5% |
| AVY Avery Dennison Corp. | 0.48% | 351,635 | $57.0M | Add +11.7% |
| IWM iShares Russell 2000 ETF | 0.48% | 235,602 | $57.0M | Add +7.2% |
| EG Everest Group Ltd. | 0.47% | 161,187 | $56.5M | Reduce -15.0% |
| MDT Medtronic PLC | 0.47% | 590,276 | $56.2M | Reduce -1.0% |
| IWF iShares Russell 1000 Growth | 0.45% | 115,618 | $54.2M | Add +2.5% |
| AXP American Express Co. | 0.45% | 162,328 | $53.9M | Reduce -0.1% |
| AVGO Broadcom Inc. | 0.44% | 158,499 | $52.3M | Add +6.1% |
| ADBE Adobe Inc. | 0.42% | 141,521 | $49.9M | Reduce -8.0% |
| SPGI S&P Global Inc. | 0.41% | 101,587 | $49.4M | Reduce -2.3% |
| IEX Idex Corp. | 0.41% | 302,897 | $49.3M | Reduce -2.5% |
| EFA iShares MSCI Eafe ETF | 0.40% | 510,353 | $47.7M | Add +1.5% |
| IJR iShares Core S&P Small-Cap E | 0.39% | 393,541 | $46.8M | Add +4.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.38% | 91,368 | $45.9M | Add +1.1% |
| CSL Carlisle Cos Inc. | 0.37% | 132,815 | $43.7M | Reduce -1.0% |
| VOO Vanguard S&P 500 ETF | 0.37% | 71,236 | $43.6M | Add +17.8% |
| HD Home Depot Inc. | 0.36% | 106,098 | $43.0M | Add +0.1% |
| BKR Baker Hughes Co. | 0.35% | 849,566 | $41.4M | Add +10225.3% |
| IJH iShares Core S&P Midcap ETF | 0.35% | 632,508 | $41.3M | Add +0.5% |
| HUBB Hubbell Inc. | 0.34% | 93,271 | $40.1M | Reduce -1.8% |
| ORCL Oracle Corp. | 0.33% | 140,168 | $39.4M | Add +0.6% |
| ABBV Abbvie Inc. | 0.31% | 158,735 | $36.8M | Add +1.4% |
| SCHG Schwab US Large-Cap Growth | 0.31% | 1,151,376 | $36.7M | Add +8.8% |
| GPC Genuine Parts Co. | 0.30% | 258,957 | $35.9M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.29% | 188,274 | $34.9M | Reduce -0.4% |
| META Meta Platforms Inc. Class A | 0.29% | 46,950 | $34.5M | Add +16.3% |
| VGT Vanguard Info Tech ETF | 0.28% | 45,456 | $33.9M | Add +60.7% |
| CTAS Cintas Corp. | 0.26% | 150,809 | $31.0M | Add +2.3% |
| SHW The Sherwin-Williams Co. | 0.26% | 88,653 | $30.7M | Add +13.4% |
| ADP Automatic Data Processing | 0.24% | 95,938 | $28.2M | Add +0.7% |
| USB US Bancorp | 0.23% | 571,365 | $27.6M | Reduce -11.3% |
| LLY Eli Lilly & Co. | 0.23% | 35,531 | $27.1M | Add +2.2% |
| NEE Nextera Energy Inc. | 0.23% | 357,124 | $27.0M | Reduce -2.1% |
| SCHF Schwab Intl Equity ETF | 0.22% | 1,119,338 | $26.1M | Add +5.4% |
| IWN iShares Russell 2000 Value E | 0.21% | 145,056 | $25.6M | Add +0.6% |
| XOM Exxon Mobil Corp. | 0.21% | 217,547 | $24.5M | Reduce -0.6% |
| IWV iShares Russell 3000 ETF | 0.20% | 63,175 | $23.9M | Reduce -1.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.19% | 70,335 | $23.1M | Reduce -1.5% |
| GE General Electric filed as GE AEROSPACE | 0.19% | 76,656 | $23.1M | Add +0.6% |
| MDY State Street SPDR S&P Midcap | 0.18% | 36,722 | $21.9M | Add +0.8% |
| IVW iShares S&P 500 Growth ETF | 0.18% | 177,929 | $21.5M | Add +8.5% |
| MSI Motorola Solutions Inc. | 0.18% | 46,762 | $21.4M | Add +4.9% |
Options reported separately and not counted above: SPY calls ($12.4M), SPY puts ($7.9M), AXON puts ($5.3M), AAPL puts ($3.0M), LLY puts ($1.1M), MSFT puts ($570K), AMZN puts ($461K), MO puts ($33K), TLRY calls ($9K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $540 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MLECW Moolec Science SA | *W EXP 12/30/202 | 50,000 | $540 | No change |
Total filed on the 13F, all lines: $11.9B.
Portfolio Sells Q2 2025 → Q3 2025
| PG The Procter & Gamble Co. | Reduce -0.5% | 2.97% | −0.35 |
| NDAQ Nasdaq Inc. | Reduce -15.6% | 1.17% | −0.33 |
| ACN Accenture PLC Class A | Reduce -2.7% | 0.81% | −0.27 |
| HON Honeywell International Inc. | Reduce -0.1% | 0.73% | −0.14 |
| ADBE Adobe Inc. | Reduce -8.0% | 0.42% | −0.12 |
| WMB Williams Cos Inc. | Reduce -0.7% | 1.63% | −0.12 |
| ABT Abbott Laboratories | Reduce -1.3% | 1.09% | −0.11 |
| EG Everest Group Ltd. | Reduce -15.0% | 0.47% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -0.3% | 0.66% | −0.10 |
| ZTS Zoetis Inc. | Reduce -1.4% | 0.59% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -0.4% | 1.33% | −0.09 |
| CSL Carlisle Cos Inc. | Reduce -1.0% | 0.37% | −0.08 |
| SPGI S&P Global Inc. | Reduce -2.3% | 0.41% | −0.08 |
| IEX Idex Corp. | Reduce -2.5% | 0.41% | −0.08 |
| COR Cencora Inc. | Reduce -2.8% | 1.02% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -31.6% | 0.13% | −0.05 |
| GEV GE Vernova Inc. | Reduce -59.4% | 0.04% | −0.05 |
| CVX Chevron Corp. | Reduce -4.6% | 1.04% | −0.04 |
| HES Hess Corp. | Sold out | 0.00% | −0.04 |
| USB US Bancorp | Reduce -11.3% | 0.23% | −0.03 |
| DOV Dover Corp. | Reduce -0.8% | 0.13% | −0.02 |
| IWP iShares Russell Mid-Cap Grow | Reduce -0.5% | 0.48% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -19.2% | 0.04% | −0.02 |
| WMT Walmart Inc. | Reduce -1.1% | 0.65% | −0.02 |
| PM Philip Morris International | Reduce -0.2% | 0.07% | −0.02 |
| PPG PPG Industries Inc. | Reduce -45.6% | 0.01% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -2.9% | 0.10% | −0.01 |
| FIX Comfort Systems USA Inc. | Sold out | 0.00% | −0.01 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -38.3% | 0.02% | −0.01 |
| AXP American Express Co. | Reduce -0.1% | 0.45% | −0.01 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -28.6% | 0.03% | −0.01 |
| WSM Williams-Sonoma Inc. | Reduce -59.1% | 0.01% | −0.01 |
| SPNS Sapiens International Corp. | Sold out | 0.00% | −0.01 |
| AMT American Tower Corp. | Reduce -7.5% | 0.04% | −0.01 |
| ITW Illinois Tool Works | Reduce -0.0% | 0.70% | −0.01 |
| HUBB Hubbell Inc. | Reduce -1.8% | 0.34% | −0.01 |
| CRM Salesforce Inc. | Reduce -0.7% | 0.05% | −0.01 |
| PTC PTC Inc. | Reduce -63.9% | 0.01% | −0.01 |
| CHX Championx Corp. | Sold out | 0.00% | −0.01 |
| NKE Nike Inc. Class B | Reduce -12.2% | 0.04% | −0.01 |
| BSY Bentley Systems Inc. Class B | Reduce -24.0% | 0.02% | −0.01 |
| EMR Emerson Electric Co. | Reduce -1.4% | 0.10% | −0.01 |
| GFF Griffon Corp. | Sold out | 0.00% | −0.01 |
| NDSN Nordson Corp. | Reduce -0.2% | 0.64% | −0.01 |
| FHN First Horizon Corp. | Reduce -1.0% | 0.59% | −0.01 |
| DIS The Walt Disney Co. | Reduce -0.2% | 0.06% | −0.01 |
| DT Dynatrace Inc. | Reduce -1.5% | 0.04% | −0.01 |
| RS Reliance Inc. | Reduce -5.9% | 0.03% | −0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.01 |
| JKHY Jack Henry & Associates Inc. | Reduce -5.5% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| BKR Baker Hughes Co. | Add +10225.3% | 0.35% | +0.34 |
| IVV iShares Core S&P 500 ETF | Add +1.8% | 7.66% | +0.17 |
| TSLA Tesla Inc. | Add +2.0% | 0.53% | +0.13 |
| GOOG Alphabet Inc. Class C | Add +0.1% | 0.53% | +0.12 |
| VGT Vanguard Info Tech ETF | Add +60.7% | 0.28% | +0.12 |
| VEU Vanguard Ftse All-World Ex-U | Add +9.0% | 1.50% | +0.11 |
| ASML ASML Holding NV-NY Reg SHS | Add +2.3% | 0.84% | +0.11 |
| IWB iShares Russell 1000 ETF | Add +1.5% | 4.36% | +0.08 |
| NVDA Nvidia Corp. | Add +3.4% | 0.63% | +0.08 |
| ILOW AB Internal Low Volat Eq ETF | Add +10.2% | 1.63% | +0.08 |
| LNT Alliant Energy Corp. | Add +2.9% | 1.12% | +0.07 |
| VEA Vanguard Ftse Developed ETF | Add +10.1% | 0.95% | +0.07 |
| AVGO Broadcom Inc. | Add +6.1% | 0.44% | +0.07 |
| APO Apollo Global Management Inc. | Add +31.3% | 0.48% | +0.06 |
| VOO Vanguard S&P 500 ETF | Add +17.8% | 0.37% | +0.06 |
| ORCL Oracle Corp. | Add +0.6% | 0.33% | +0.06 |
| IWM iShares Russell 2000 ETF | Add +7.2% | 0.48% | +0.05 |
| ABBV Abbvie Inc. | Add +1.4% | 0.31% | +0.05 |
| APLD Applied Digital Corp. | New | 0.04% | +0.04 |
| GDX Vaneck Gold Miners ETF | Add +15.9% | 0.12% | +0.04 |
| LOW Lowe's Cos Inc. | Add +0.3% | 0.66% | +0.04 |
| SCHX Schwab US Large-Cap ETF | Add +2.8% | 1.11% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | Add +4.7% | 0.58% | +0.03 |
| CINF Cincinnati Financial Corp. | Add +2.8% | 1.86% | +0.03 |
| SCHG Schwab US Large-Cap Growth | Add +8.8% | 0.31% | +0.03 |
| MT Arcelormittal-NY Registered | New | 0.03% | +0.03 |
| IWF iShares Russell 1000 Growth | Add +2.5% | 0.45% | +0.02 |
| META Meta Platforms Inc. Class A | Add +16.3% | 0.29% | +0.02 |
| CSW CSW Industrials Inc. | New | 0.02% | +0.02 |
| IJR iShares Core S&P Small-Cap E | Add +4.0% | 0.39% | +0.02 |
| ITT Itt Inc. | Add +448.9% | 0.02% | +0.02 |
| MUSA Murphy USA Inc. | New | 0.02% | +0.02 |
| IVW iShares S&P 500 Growth ETF | Add +8.5% | 0.18% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +16.7% | 0.11% | +0.02 |
| GE General Electric | Add +0.6% | 0.19% | +0.02 |
| ACGL Arch Capital Group Ltd. | Add +1.3% | 0.02% | +0.02 |
| SHW The Sherwin-Williams Co. | Add +13.4% | 0.26% | +0.02 |
| VONG Vanguard Russell 1000 Growth | Add +43.4% | 0.05% | +0.02 |
| SCHB Schwab US Broad Market ETF | Add +18.5% | 0.10% | +0.02 |
| CNQ Canadian Natural Resources | New | 0.01% | +0.01 |
| XLK SS Technology Select Sector | Add +12.0% | 0.10% | +0.01 |
| AEP American Electric Power | Add +0.1% | 1.10% | +0.01 |
| ACHR Archer Aviation Inc. Class A | New | 0.01% | +0.01 |
| CTS CTS Corp. | New | 0.01% | +0.01 |
| CWAN Clearwater Analytics HDS-A | New | 0.01% | +0.01 |
| HD Home Depot Inc. | Add +0.1% | 0.36% | +0.01 |
| MSI Motorola Solutions Inc. | Add +4.9% | 0.18% | +0.01 |
| SLB SLB Ltd. | Add +437.3% | 0.01% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +44.2% | 0.02% | +0.01 |
| IWN iShares Russell 2000 Value E | Add +0.6% | 0.21% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +17.0% | 18,600 | $12.4M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +35.2% | 11,900 | $7.9M |
| AAPL Apple Inc. | put | Add +14.4% | 11,900 | $3.0M |
| MSFT Microsoft Corp. | put | New | 1,100 | $570K |
| AMZN Amazon.com Inc. | put | Add +40.0% | 2,100 | $461K |
| NFLX Netflix Inc. | put | Sold out | 100 | $134Kbefore exit |
| MSTR Strategy Inc. | put | Sold out | 100 | $40Kbefore exit |
| TLRY Tilray Brands Inc. | call | New | 5,000 | $9K |
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 | 838 | $13.7B | IVV, IWB, AAPL, GOOGL, IWR |
| Q1 2026 | 808 | $12.4B | IVV, IWB, AAPL, GOOGL, PG |
| Q4 2025 | 788 | $12.2B | IVV, IWB, AAPL, MSFT, GOOGL |
| Q3 2025 | 817 | $11.9B | IVV, IWB, AAPL, MSFT, PG |
| Q2 2025 | 806 | $11.1B | IVV, IWB, MSFT, AAPL, PG |
| Q1 2025 | 796 | $10.4B | IVV, AAPL, IWB, PG, MSFT |
| Q4 2024 | 788 | $10.3B | IVV, AAPL, IWB, PG, MSFT |
| Q3 2024 | 807 | $10.2B | IVV, AAPL, IWB, PG, MSFT |
| Q2 2024 | 764 | $9.5B | IVV, AAPL, IWB, PG, MSFT |
| Q1 2024 | 761 | $9.2B | IVV, PG, IWB, AAPL, MSFT |