Donaldson Capital Management portfolio

What changed this quarter

266 positions with a change (85 new, 123 added to, 48 trimmed, 10 sold); also, 1 entered through a spin-off. 10 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Kimberly Clark+1.7 ppof portfolioNew
  — → 1.7%
• Realty Income+1.6 ppof portfolioNew
  — → 1.6%
• Paccar−90%fewer sharesReduced
  1.8% → 0.2%
• State Street Comm Select Sector SPDR ETF−40%fewer sharesReduced
  4.1% → 2.1%
• Linde+21,902%more sharesIncreased
  under 0.1% → 1.3%
• Oneok+1,389%more sharesIncreased
  0.1% → 0.9%
• State Str Spdr S&P 500 ETF T+538%more sharesIncreased
  0.1% → 0.7%
• Broadcom−11%fewer sharesReduced
  5.0% → 4.8%
• Morgan Stanley−22%fewer sharesReduced
  2.5% → 2.2%
• Eli Lilly+20%more sharesIncreased
  2.2% → 3.0%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• iShares Semiconductor ETFSOXX5.6%
• Karman HoldingsKRMN5.0%
• AppleAAPL4.9%
• BroadcomAVGO4.8%
• AbbVieABBV3.5%
• MicrosoftMSFT3.1%
• Eli LillyLLY3.0%
• MerckMRK2.9%
• JPMorgan ChaseJPM2.8%
• iShares Ultra Short Duration ETFICSH2.5%
• Costco WholesaleCOST2.2%
• Morgan StanleyMS2.2%
• RTXRTX2.1%
• State Street Comm Select Sector SPDR ETFXLC2.1%
• CitigroupC2.0%
• WatscoWSO2.0%
• Goldman Sachs GroupGS2.0%
• Home DepotHD1.9%
• FastenalFAST1.9%
• Kimberly ClarkKMB1.7%
• McDONALD’SMCD1.6%
• PaychexPAYX1.6%
• General DynamicsGD1.6%
• Realty IncomeO1.6%
• WEC Energy GroupWEC1.5%
• LindeLIN1.3%
• T. Rowe PriceTROW1.3%
• International Business MachinesIBM1.3%
• EatonETN1.2%
• Xcel EnergyXEL1.2%
• CencoraCOR1.1%
• CintasCTAS1.0%
• ChevronCVX0.9%
• Schwab US Large-cap Growth ETFSCHG0.9%
• OneokOKE0.9%
• AlphabetGOOGL · GOOG0.8%
• State Str Spdr S&P 500 ETF TSPY0.7%
• Exxon MobilXOM0.7%
• CumminsCMI0.6%
• iShares Sh DBA ETF USDNEAR0.6%
• J P Morgan Exchange Traded FundJPST0.6%
• Amazon.comAMZN0.5%
• NVIDIANVDA0.5%
• Vanguard Dividend Apprec ETFVIG0.5%
• VisaV0.5%
• iShares Core U.s. Aggregate ETFAGG0.4%
• MastercardMA0.4%
• Micron TechnologyMU0.4%
• Moody'sMCO0.4%
• Vanguard S&P 500 ETFVOO0.4%
• Taiwan Semiconductor ManufacturingTSM0.4%
• Ishares TrLQD0.4%
• ASML HoldingASML0.4%
• EA Series TrustSQS0.3%
• Interactive Brokers GroupIBKR0.3%
• Vertiv HoldingsVRT0.3%
• State Street Technology Select Sector ETFXLK0.3%
• UBER TechnologiesUBER0.3%
• MercadoLibreMELI0.3%
• Meta PlatformsMETA0.3%
• iShares Core S&P Midcap ETFIJH0.3%
• Berkshire HathawayBRK/B0.3%
• AppLovinAPP0.3%
• Johnson & JohnsonJNJ0.3%
• Cisco SystemsCSCO0.3%
• Schwab US DVD Equity ETFSCHD0.3%
• Lockheed MartinLMT0.2%
• Vanguard High DVD Yield ETFVYM0.2%
• Nextera EnergyNEE0.2%
• Schwab US Broad Market ETFSCHB0.2%
• AllstateALL0.2%
• Automatic Data ProcessingADP0.2%
• BlackRockBLK0.2%
• Vanguard Mrngstar GR ETF-sui ETFVUG0.2%
• CaterpillarCAT0.2%
• AflacAFL0.2%
• iShares Russell 2000 ETFIWM0.2%
• PaccarPCAR0.2%
• iShares Core S&P Small-cap E ETFIJR0.2%
• O Reilly AutomotiveORLY0.1%
• Texas InstrumentsTXN0.1%
• Ishares U S ETF TrMEAR0.1%
• EcolabECL0.1%
• Valero EnergyVLO0.1%
• Bristol-myers SquibbBMY0.1%
• Cincinnati FinancialCINF0.1%
• AmphenolAPH0.1%
• iShares Core S&P 500 ETFIVV0.1%
• iShares Preferred & Income S ETFPFF0.1%
• Air Products and ChemicalsAPD0.1%
• Invesco S&P 500 Low Volatili ETFSPLV0.1%
• Applied MaterialsAMAT0.1%
• Invesco Taxable Municipal BO ETFBAB0.1%
• CME GroupCME0.1%
• AmgenAMGN0.1%
• Coca-ColaKO0.1%
• Schwab International Equity ETFSCHF0.1%
• Northrop GrummanNOC0.1%
• SouthernSO0.1%