Johnson Investment Counsel Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Johnson Investment Counsel Inc. reported 788 stock positions worth $12.2 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 7.9% of the portfolio, followed by iShares Russell 1000 ETF (IWB, 4.3%) and Apple (AAPL, 4.1%). Compared with Q3 2025, it opened 31 new positions, sold out of 62, added to 264 and reduced 339. The biggest buy was Chipotle Mexican Grill (CMG, shares +6523%) and the biggest sale Everest (EG, shares −88%).
- Most Recent 13F
- Q2 2026
- Location
- Cincinnati, OH
- CIK
- 0000821197
- Portfolio Value
- $12.2B (Q4 2025)
- SEC Filing
- 0002085853-26-000263 ↗ filed Feb 13, 2026
Holdings Value
Holdings 788 stocks · $12.2B
| IVV iShares Core S&P 500 ETF | 7.90% | 1,410,609 | $966.2M | Add +3.2% |
| IWB iShares Russell 1000 ETF | 4.28% | 1,403,281 | $524.0M | Reduce -1.6% |
| AAPL Apple Inc. | 4.14% | 1,860,944 | $505.9M | Reduce -2.1% |
| MSFT Microsoft Corp. | 3.27% | 828,230 | $400.5M | Reduce -0.1% |
| GOOGL Alphabet Inc. Class A | 2.91% | 1,137,465 | $356.0M | Reduce -3.9% |
| PG The Procter & Gamble Co. | 2.71% | 2,315,120 | $331.8M | Add +0.4% |
| IWR iShares Russell Mid-Cap ETF | 2.22% | 2,817,442 | $271.2M | Add +5.5% |
| CINF Cincinnati Financial Corp. | 1.87% | 1,403,909 | $229.3M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 1.76% | 930,535 | $214.8M | Add +1.0% |
| ILOW AB Internal Low Volat Eq ETF filed as AB ACTIVE ETFS INC | 1.71% | 4,899,916 | $208.7M | Add +7.1% |
| VEU Vanguard Ftse All-World Ex-U | 1.64% | 2,723,302 | $200.3M | Add +8.1% |
| WMB Williams Cos Inc. | 1.50% | 3,048,735 | $183.3M | Reduce -0.8% |
| NVT Nvent Electric PLC | 1.32% | 1,584,100 | $161.5M | Reduce -7.8% |
| MA Mastercard Inc. Class A | 1.32% | 281,823 | $160.9M | Add +0.9% |
| NDAQ Nasdaq Inc. | 1.24% | 1,555,679 | $151.1M | Reduce -1.4% |
| DHR Danaher Corp. | 1.23% | 656,739 | $150.3M | Reduce -1.2% |
| V Visa Inc. Class A | 1.20% | 419,583 | $147.2M | Add +5.6% |
| APH Amphenol Corp. Class A | 1.16% | 1,051,869 | $142.1M | Reduce -4.4% |
| SCHX Schwab US Large-Cap ETF | 1.12% | 5,075,689 | $136.6M | Add +1.0% |
| AEP American Electric Power | 1.10% | 1,170,482 | $135.0M | Reduce -0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.10% | 872,238 | $134.0M | Reduce -1.5% |
| LNT Alliant Energy Corp. | 1.05% | 1,978,399 | $128.6M | Reduce -0.1% |
| VEA Vanguard Ftse Developed ETF | 1.03% | 2,025,712 | $126.5M | Add +6.5% |
| AXS Axis Capital Holdings Ltd. | 1.03% | 1,171,996 | $125.5M | Reduce -4.2% |
| COR Cencora Inc. | 1.02% | 369,038 | $124.6M | Reduce -5.0% |
| ABT Abbott Laboratories | 1.01% | 985,964 | $123.5M | Add +1.0% |
| WM Waste Management Inc. | 1.00% | 559,422 | $122.9M | Add +1.0% |
| CVX Chevron Corp. | 0.97% | 778,901 | $118.7M | Reduce -2.6% |
| USMV iShares MSCI USA Min Vol Fac | 0.95% | 1,234,101 | $116.2M | Reduce -3.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.95% | 381,510 | $115.9M | Reduce -2.3% |
| ADI Analog Devices Inc. | 0.94% | 425,299 | $115.3M | Reduce -1.0% |
| KO The Coca-Cola Co. | 0.85% | 1,493,460 | $104.4M | Add +0.1% |
| ASML ASML Holding NV-NY Reg SHS | 0.84% | 96,236 | $103.0M | Reduce -6.7% |
| ACN Accenture PLC Class A | 0.79% | 362,347 | $97.2M | Reduce -8.2% |
| QUAL iShares MSCI USA Quality Fac | 0.79% | 488,614 | $97.0M | Add +1.7% |
| MCD McDonald's Corp. | 0.79% | 314,827 | $96.2M | Reduce -0.9% |
| WTW Willis Towers Watson PLC | 0.76% | 284,390 | $93.5M | Reduce -1.4% |
| MRSH Marsh & McLennan Cos | 0.74% | 486,150 | $90.2M | Add +6.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.73% | 130,618 | $89.1M | Add +0.1% |
| WMT Walmart Inc. | 0.67% | 734,990 | $81.9M | Reduce -2.7% |
| HON Honeywell International Inc. | 0.67% | 418,588 | $81.7M | Add +1.4% |
| NVDA Nvidia Corp. | 0.66% | 430,258 | $80.2M | Add +7.2% |
| NDSN Nordson Corp. | 0.66% | 333,522 | $80.2M | Reduce -1.2% |
| GOOG Alphabet Inc. Class C | 0.65% | 254,649 | $79.9M | Reduce -2.9% |
| ITW Illinois Tool Works | 0.65% | 321,267 | $79.1M | Add +0.3% |
| LOW Lowe's Cos Inc. | 0.64% | 325,378 | $78.5M | Add +4.1% |
| PEP Pepsico Inc. | 0.64% | 546,558 | $78.4M | Reduce -1.6% |
| INTU Intuit Inc. | 0.63% | 115,969 | $76.8M | Add +11.7% |
| SYK Stryker Corp. | 0.60% | 210,608 | $74.0M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 0.60% | 227,654 | $73.4M | Reduce -0.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.60% | 119,215 | $73.2M | Add +4.0% |
| COST Costco Wholesale Corp. | 0.60% | 84,532 | $72.9M | Reduce -0.5% |
| IWM iShares Russell 2000 ETF | 0.57% | 282,631 | $69.6M | Add +20.0% |
| ROP Roper Technologies Inc. | 0.56% | 152,529 | $67.9M | Reduce -6.0% |
| AVY Avery Dennison Corp. | 0.54% | 361,605 | $65.8M | Add +2.8% |
| AFG American Financial Group Inc. | 0.53% | 478,475 | $65.4M | Reduce -19.1% |
| APO Apollo Global Management Inc. | 0.53% | 444,060 | $64.3M | Add +2.3% |
| TSLA Tesla Inc. | 0.52% | 141,779 | $63.8M | Reduce -0.5% |
| IJR iShares Core S&P Small-Cap E | 0.49% | 494,632 | $59.4M | Add +25.7% |
| AXP American Express Co. | 0.48% | 160,229 | $59.3M | Reduce -1.3% |
| AVGO Broadcom Inc. | 0.48% | 168,904 | $58.5M | Add +6.6% |
| FHN First Horizon Corp. | 0.47% | 2,424,295 | $57.9M | Reduce -22.3% |
| MDT Medtronic PLC | 0.45% | 577,536 | $55.5M | Reduce -2.2% |
| IWP iShares Russell Mid-Cap Grow | 0.45% | 403,273 | $55.2M | Add +0.1% |
| IWF iShares Russell 1000 Growth | 0.45% | 116,211 | $55.0M | Add +0.5% |
| ZTS Zoetis Inc. | 0.44% | 428,831 | $54.0M | Reduce -11.2% |
| EFA iShares MSCI Eafe ETF | 0.43% | 542,662 | $52.1M | Add +6.3% |
| SPGI S&P Global Inc. | 0.42% | 99,312 | $51.9M | Reduce -2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.38% | 91,528 | $46.0M | Add +0.2% |
| CL Colgate-Palmolive Co. | 0.38% | 581,053 | $45.9M | Add +696.3% |
| VOO Vanguard S&P 500 ETF | 0.37% | 73,139 | $45.9M | Add +2.7% |
| BKR Baker Hughes Co. | 0.37% | 987,954 | $45.0M | Add +16.3% |
| IEX Idex Corp. | 0.35% | 241,162 | $42.9M | Reduce -20.4% |
| CMG Chipotle Mexican Grill Inc. | 0.35% | 1,144,240 | $42.3M | Add +6522.9% |
| CSL Carlisle Cos Inc. | 0.34% | 130,507 | $41.7M | Reduce -1.7% |
| UMBF Umb Financial Corp. | 0.34% | 362,118 | $41.7M | Add +1560.9% |
| IJH iShares Core S&P Midcap ETF | 0.34% | 625,871 | $41.3M | Reduce -1.1% |
| HUBB Hubbell Inc. | 0.33% | 91,270 | $40.5M | Reduce -2.1% |
| JNJ Johnson & Johnson | 0.31% | 185,090 | $38.3M | Reduce -1.7% |
| LLY Eli Lilly & Co. | 0.31% | 35,489 | $38.1M | Reduce -0.1% |
| SCHG Schwab US Large-Cap Growth | 0.31% | 1,145,183 | $37.4M | Reduce -0.5% |
| GPC Genuine Parts Co. | 0.30% | 293,970 | $36.1M | Add +13.5% |
| ABBV Abbvie Inc. | 0.29% | 157,106 | $35.9M | Reduce -1.0% |
| VGT Vanguard Info Tech ETF | 0.29% | 46,889 | $35.3M | Add +3.1% |
| HD Home Depot Inc. | 0.29% | 102,430 | $35.2M | Reduce -3.5% |
| ADBE Adobe Inc. | 0.28% | 97,309 | $34.1M | Reduce -31.2% |
| META Meta Platforms Inc. Class A | 0.28% | 51,318 | $33.9M | Add +9.3% |
| CTAS Cintas Corp. | 0.24% | 154,212 | $29.0M | Add +2.3% |
| SHW The Sherwin-Williams Co. | 0.23% | 87,452 | $28.3M | Reduce -1.4% |
| IWN iShares Russell 2000 Value E | 0.23% | 155,544 | $28.2M | Add +7.2% |
| NEE Nextera Energy Inc. | 0.23% | 349,627 | $28.1M | Reduce -2.1% |
| SCHF Schwab Intl Equity ETF | 0.23% | 1,166,323 | $28.0M | Add +4.2% |
| USB US Bancorp | 0.22% | 514,464 | $27.5M | Reduce -10.0% |
| ORCL Oracle Corp. | 0.22% | 138,446 | $27.0M | Reduce -1.2% |
| XOM Exxon Mobil Corp. | 0.21% | 214,919 | $25.9M | Reduce -1.2% |
| ADP Automatic Data Processing | 0.20% | 96,403 | $24.8M | Add +0.5% |
| GE General Electric filed as GE AEROSPACE | 0.19% | 76,675 | $23.6M | Add +0.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.19% | 69,982 | $23.5M | Reduce -0.5% |
| IVW iShares S&P 500 Growth ETF | 0.19% | 187,759 | $23.1M | Add +5.5% |
| MDY State Street SPDR S&P Midcap | 0.19% | 37,726 | $22.8M | Add +2.7% |
Options reported separately and not counted above: AXON puts ($2.3M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $290 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MLECW Moolec Science SA | *W EXP 01/30/202 | 50,000 | $290 | No change |
Total filed on the 13F, all lines: $12.2B.
Portfolio Sells Q3 2025 → Q4 2025
| EG Everest Group Ltd. | Reduce -87.7% | 0.05% | −0.42 |
| MSFT Microsoft Corp. | Reduce -0.1% | 3.27% | −0.32 |
| AFG American Financial Group Inc. | Reduce -19.1% | 0.53% | −0.19 |
| ZTS Zoetis Inc. | Reduce -11.2% | 0.44% | −0.15 |
| ADBE Adobe Inc. | Reduce -31.2% | 0.28% | −0.14 |
| WMB Williams Cos Inc. | Reduce -0.8% | 1.50% | −0.13 |
| ROP Roper Technologies Inc. | Reduce -6.0% | 0.56% | −0.12 |
| FHN First Horizon Corp. | Reduce -22.3% | 0.47% | −0.12 |
| ORCL Oracle Corp. | Reduce -1.2% | 0.22% | −0.11 |
| NVT Nvent Electric PLC | Reduce -7.8% | 1.32% | −0.10 |
| IWB iShares Russell 1000 ETF | Reduce -1.6% | 4.28% | −0.08 |
| HD Home Depot Inc. | Reduce -3.5% | 0.29% | −0.07 |
| WTW Willis Towers Watson PLC | Reduce -1.4% | 0.76% | −0.07 |
| CVX Chevron Corp. | Reduce -2.6% | 0.97% | −0.07 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -3.3% | 0.95% | −0.07 |
| LNT Alliant Energy Corp. | Reduce -0.1% | 1.05% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -0.5% | 0.60% | −0.06 |
| IEX Idex Corp. | Reduce -20.4% | 0.35% | −0.06 |
| TYL Tyler Technologies Inc. | Reduce -63.5% | 0.02% | −0.05 |
| APLD Applied Digital Corp. | Sold out | 0.00% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -28.9% | 0.09% | −0.04 |
| MT Arcelormittal-NY Registered | Sold out | 0.00% | −0.03 |
| SHW The Sherwin-Williams Co. | Reduce -1.4% | 0.23% | −0.03 |
| CSL Carlisle Cos Inc. | Reduce -1.7% | 0.34% | −0.02 |
| SOLS Solstice Adv Materials Inc. | Reduce -52.2% | 0.02% | −0.02 |
| MCD McDonald's Corp. | Reduce -0.9% | 0.79% | −0.02 |
| NOC Northrop Grumman Corp. | Reduce -4.8% | 0.14% | −0.02 |
| CSW CSW Industrials Inc. | Sold out | 0.00% | −0.02 |
| ACN Accenture PLC Class A | Reduce -8.2% | 0.79% | −0.02 |
| CPNG Coupang Inc. | Sold out | 0.00% | −0.02 |
| IWV iShares Russell 3000 ETF | Reduce -8.3% | 0.18% | −0.02 |
| ACGL Arch Capital Group Ltd. | Reduce -18.5% | 0.00% | −0.02 |
| MDT Medtronic PLC | Reduce -2.2% | 0.45% | −0.02 |
| COIN Coinbase Global Inc. Class A | Reduce -0.1% | 0.03% | −0.01 |
| ABBV Abbvie Inc. | Reduce -1.0% | 0.29% | −0.01 |
| SPSC SPS Commerce Inc. | Reduce -47.9% | 0.01% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -27.4% | 0.03% | −0.01 |
| LKQ LKQ Corp. | Reduce -87.6% | 0.00% | −0.01 |
| PEP Pepsico Inc. | Reduce -1.6% | 0.64% | −0.01 |
| AMT American Tower Corp. | Reduce -22.4% | 0.03% | −0.01 |
| HWKN Hawkins Inc. | Reduce -35.4% | 0.01% | −0.01 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -66.1% | 0.00% | −0.01 |
| ACHR Archer Aviation Inc. Class A | Sold out | 0.00% | −0.01 |
| CTS CTS Corp. | Sold out | 0.00% | −0.01 |
| NKE Nike Inc. Class B | Reduce -13.5% | 0.03% | −0.01 |
| ACA Arcosa Inc. | Sold out | 0.00% | −0.01 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -33.9% | 0.01% | −0.01 |
| LYTS Lsi Industries Inc. | Reduce -23.2% | 0.01% | −0.01 |
| NSC Norfolk Southern Corp. | Reduce -6.7% | 0.07% | −0.01 |
| CROX Crocs Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| CMG Chipotle Mexican Grill Inc. | Add +6522.9% | 0.35% | +0.34 |
| CL Colgate-Palmolive Co. | Add +696.3% | 0.38% | +0.33 |
| UMBF Umb Financial Corp. | Add +1560.9% | 0.34% | +0.32 |
| IVV iShares Core S&P 500 ETF | Add +3.2% | 7.90% | +0.24 |
| VEU Vanguard Ftse All-World Ex-U | Add +8.1% | 1.64% | +0.13 |
| IJR iShares Core S&P Small-Cap E | Add +25.7% | 0.49% | +0.09 |
| IWM iShares Russell 2000 ETF | Add +20.0% | 0.57% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +6.5% | 1.03% | +0.08 |
| ILOW AB Internal Low Volat Eq ETF | Add +7.1% | 1.71% | +0.08 |
| V Visa Inc. Class A | Add +5.6% | 1.20% | +0.07 |
| AMZN Amazon.com Inc. | Add +1.0% | 1.76% | +0.06 |
| AVY Avery Dennison Corp. | Add +2.8% | 0.54% | +0.06 |
| IWR iShares Russell Mid-Cap ETF | Add +5.5% | 2.22% | +0.06 |
| APO Apollo Global Management Inc. | Add +2.3% | 0.53% | +0.04 |
| AVGO Broadcom Inc. | Add +6.6% | 0.48% | +0.04 |
| INTU Intuit Inc. | Add +11.7% | 0.63% | +0.03 |
| ISRG Intuitive Surgical Inc. | Add +1.8% | 0.15% | +0.03 |
| NVDA Nvidia Corp. | Add +7.2% | 0.66% | +0.03 |
| IXUS iShares Core Intl Stock ETF | New | 0.03% | +0.03 |
| EFA iShares MSCI Eafe ETF | Add +6.3% | 0.43% | +0.03 |
| KO The Coca-Cola Co. | Add +0.1% | 0.85% | +0.03 |
| IYW iShares Ustechnology ETF | Add +26.6% | 0.12% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +4.0% | 0.60% | +0.02 |
| BKR Baker Hughes Co. | Add +16.3% | 0.37% | +0.02 |
| GDX Vaneck Gold Miners ETF | Add +6.6% | 0.14% | +0.02 |
| VHT Vanguard Health Care ETF | Add +11.2% | 0.11% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +16.9% | 0.12% | +0.02 |
| SCHM Schwab US Mid Cap ETF | Add +11.7% | 0.17% | +0.02 |
| IWN iShares Russell 2000 Value E | Add +7.2% | 0.23% | +0.02 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +10.6% | 0.17% | +0.01 |
| BROS Dutch Bros Inc. Class A | New | 0.01% | +0.01 |
| SCHA Schwab US Small-Cap ETF | Add +8.1% | 0.18% | +0.01 |
| ODFL Old Dominion Freight Line | Add +582.4% | 0.01% | +0.01 |
| MU Micron Technology Inc. | Add +11.9% | 0.02% | +0.01 |
| XLK SS Technology Select Sector | Add +12.1% | 0.11% | +0.01 |
| SCHF Schwab Intl Equity ETF | Add +4.2% | 0.23% | +0.01 |
| CPRT Copart Inc. | Add +245.2% | 0.02% | +0.01 |
| SLVP iShares MSCI Global Silver A | Add +134.2% | 0.02% | +0.01 |
| PH Parker Hannifin Corp. | Add +44.7% | 0.03% | +0.01 |
| QUAL iShares MSCI USA Quality Fac | Add +1.7% | 0.79% | +0.01 |
| AKRE Akre Focus ETF | New | 0.01% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +2.7% | 0.37% | +0.01 |
| IVW iShares S&P 500 Growth ETF | Add +5.5% | 0.19% | +0.01 |
| EFV iShares MSCI Eafe Value ETF | Add +3.5% | 0.14% | +0.01 |
| SCHX Schwab US Large-Cap ETF | Add +1.0% | 1.12% | +0.01 |
| EFG iShares MSCI Eafe Growth ETF | Add +8.9% | 0.14% | +0.01 |
| VTHR Vanguard Russell 3000 | Add +68.9% | 0.02% | +0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +7.0% | 0.13% | +0.01 |
| CVS CVS Health Corp. | Add +9.2% | 0.02% | +0.01 |
| RGEN Repligen Corp. | Add +16.8% | 0.02% | +0.01 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | call | Sold out | 18,600 | $12.4Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 11,900 | $7.9Mbefore exit |
| AAPL Apple Inc. | put | Sold out | 11,900 | $3.0Mbefore exit |
| AXON Axon Enterprise Inc. | put | Reduce -46.0% | 4,000 | $2.3M |
| LLY Eli Lilly & Co. | put | Sold out | 1,500 | $1.1Mbefore exit |
| MSFT Microsoft Corp. | put | Sold out | 1,100 | $570Kbefore exit |
| AMZN Amazon.com Inc. | put | Sold out | 2,100 | $461Kbefore exit |
| MO Altria Group Inc. | put | Sold out | 500 | $33Kbefore exit |
| TLRY Tilray Brands Inc. | call | Sold out | 5,000 | $9Kbefore exit |
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 |