DONALDSON CAPITAL MANAGEMENT, LLC

CIK: 0001487438SEC EDGAR →

Portfolio Value

$3.1B

Holdings

231

As of

Q4 2025

New Positions

231

Closed Positions

Portfolio Value History

Top 10 Holdings

Rank	Stock	Shares	Value	% of Portfolio
1	KRMN KARMAN HLDGS INC	3,501,433	$256.2M	8.15%
2	AVGO BROADCOM INC	476,954	$165.1M	5.25%
3	AAPL APPLE INC	565,368	$153.7M	4.89%
4	XLC SELECT SECTOR SPDR TR	1,140,302	$134.2M	4.27%
5	MSFT MICROSOFT CORP	274,842	$132.9M	4.23%
6	JPM JPMORGAN CHASE & CO.	345,590	$111.4M	3.54%
7	ABBV ABBVIE INC	478,637	$109.4M	3.48%
8	ICSH ISHARES TR	2,150,661	$108.8M	3.46%
9	SOXX ISHARES TR	298,148	$89.8M	2.86%
10	DWD MORGAN STANLEY	462,510	$82.1M	2.61%

Quarterly Changes

Top Buys

KRMNNEW

$256.2M

AVGONEW

$165.1M

AAPLNEW

$153.7M

XLCNEW

$134.2M

MSFTNEW

$132.9M

Top Sells

No sells this quarter

New Positions (231)

KRMN

$256.2M · 3.5M shares

AVGO

$165.1M · 477K shares

AAPL

$153.7M · 565K shares

XLC

$134.2M · 1.1M shares

MSFT

$132.9M · 275K shares

JPM

$111.4M · 346K shares

ABBV

$109.4M · 479K shares

ICSH

$108.8M · 2.2M shares

$89.8M · 298K shares

$82.1M · 463K shares

$81.9M · 778K shares

$73.0M · 68K shares

$72.4M · 84K shares

$69.6M · 380K shares

$69.5M · 578K shares

$67.7M · 580K shares

$66.3M · 193K shares

MCD

$64.5M · 211K shares

$64.5M · 73K shares

FAST

$55.9M · 1.4M shares

$49.7M · 570K shares

$48.3M · 143K shares

$47.8M · 161K shares

$46.3M · 137K shares

$46.1M · 437K shares

$45.7M · 407K shares

$41.0M · 400K shares

$37.0M · 110K shares

$34.0M · 460K shares

$29.6M · 194K shares

$25.4M · 232K shares

$22.8M · 71K shares

$22.7M · 695K shares

$22.1M · 436K shares

$21.8M · 426K shares

$20.5M · 66K shares

$18.7M · 81K shares

$16.7M · 90K shares

$15.8M · 45K shares

MCO

$14.8M · 29K shares

AGG

$14.6M · 146K shares

$13.5M · 24K shares

$13.2M · 120K shares

$11.9M · 44K shares

$11.3M · 18K shares

$10.2M · 47K shares

$10.2M · 71K shares

$9.9M · 15K shares

$9.6M · 31K shares

$9.5M · 37K shares

$9.3M · 30K shares

$9.1M · 14K shares

$8.8M · 39K shares

$8.5M · 18K shares

$8.4M · 231K shares

$8.4M · 504K shares

$8.4M · 2K shares

$8.3M · 93K shares

$8.3M · 8K shares

$8.1M · 99K shares

$7.9M · 4K shares

$7.8M · 118K shares

$7.5M · 36K shares

$7.5M · 94K shares

$7.4M · 36K shares

$7.3M · 15K shares

$6.9M · 250K shares

$6.6M · 72K shares

$6.4M · 13K shares

$6.3M · 57K shares

$6.0M · 12K shares

$5.8M · 76K shares

$5.8M · 21K shares

$5.5M · 21K shares

$5.1M · 193K shares

$4.9M · 7K shares

$4.6M · 14K shares

$4.2M · 35K shares

$4.2M · 29K shares

$4.1M · 30K shares

$3.8M · 6K shares

$3.7M · 74K shares

$3.7M · 6K shares

$3.7M · 5K shares

$3.7M · 21K shares

$3.6M · 22K shares

$3.3M · 61K shares

$3.2M · 119K shares

$3.2M · 10K shares

$3.1M · 16K shares

$3.0M · 8K shares

$2.9M · 20K shares

$2.9M · 9K shares

$2.8M · 17K shares

$2.8M · 11K shares

$2.8M · 8K shares

$2.5M · 36K shares

$2.5M · 20K shares

$2.5M · 23K shares

$2.4M · 4K shares

$2.1M · 35K shares

$2.1M · 10K shares

$2.0M · 17K shares

$2.0M · 28K shares

$1.9M · 564 shares

$1.9M · 79K shares

$1.9M · 15K shares

$1.9M · 4K shares

$1.8M · 72K shares

$1.8M · 45K shares

$1.8M · 20K shares

$1.8M · 17K shares

$1.7M · 33K shares

$1.7M · 8K shares

$1.7M · 35K shares

$1.7M · 54K shares

$1.6M · 9K shares

$1.6M · 17K shares

UPS

$1.6M · 16K shares

ERIE

$1.6M · 5K shares

OKE

$1.6M · 21K shares

$1.5M · 7K shares

$1.5M · 14K shares

$1.5M · 13K shares

$1.4M · 3K shares

$1.4M · 6K shares

$1.4M · 10K shares

$1.4M · 24K shares

$1.3M · 10K shares

$1.3M · 22K shares

$1.3M · 74K shares

$1.2M · 33K shares

$1.1M · 6K shares

$1.1M · 20K shares

$1.1M · 13K shares

$1.1M · 2K shares

$1.1M · 7K shares

TSLA

$1.0M · 2K shares

SCHA

$1.0M · 37K shares

PFE

$1.0M · 42K shares

$1.0M · 26K shares

$959K · 4K shares

$955K · 6K shares

$940K · 12K shares

$939K · 11K shares

$938K · 3K shares

XLI

$929K · 6K shares

NDQ

$915K · 1K shares

AQLT

$893K · 10K shares

$862K · 35K shares

$860K · 4K shares

$836K · 21K shares

$803K · 16K shares

$793K · 19K shares

$765K · 11K shares

$757K · 7K shares

$754K · 1 shares

$748K · 19K shares

$724K · 11K shares

$694K · 6K shares

$686K · 5K shares

$683K · 2K shares

$611K · 3K shares

$605K · 3K shares

$577K · 13K shares

$574K · 10K shares

$574K · 8K shares

$566K · 3K shares

$565K · 5K shares

$543K · 4K shares

$539K · 2K shares

$525K · 5K shares

$518K · 17K shares

$518K · 3K shares

$507K · 7K shares

$491K · 5K shares

$486K · 11K shares

$482K · 2K shares

$478K · 2K shares

$472K · 5K shares

$469K · 1K shares

$447K · 5K shares

$441K · 2K shares

$441K · 3K shares

$432K · 1K shares

$426K · 5K shares

$418K · 9K shares

$409K · 7K shares

$394K · 3K shares

$385K · 469 shares

$379K · 4K shares

$376K · 10K shares

$369K · 565 shares

$366K · 2K shares

$364K · 4K shares

$363K · 5K shares

$353K · 4K shares

$353K · 891 shares

$351K · 2K shares

$337K · 1K shares

$308K · 9K shares

$303K · 652 shares

$301K · 6K shares

$297K · 14K shares

$293K · 612 shares

$291K · 2K shares

$287K · 3K shares

$285K · 6K shares

$284K · 1K shares

$275K · 1K shares

$272K · 2K shares

$268K · 3K shares

DHR

$267K · 1K shares

FDX

$264K · 916 shares

QCOM

$264K · 2K shares

$262K · 1K shares

$257K · 5K shares

$248K · 4K shares

$247K · 668 shares

$242K · 1K shares

$239K · 1K shares

$237K · 4K shares

$235K · 502 shares

$223K · 4K shares

$222K · 3K shares

$218K · 4K shares

$215K · 1K shares

$212K · 656 shares

$208K · 2K shares

$206K · 193 shares

$201K · 2K shares

Sector Breakdown

Sector	# Holdings	Value	%
Financial Services	96	$873.2M	27.8%
Industrials	32	$613.7M	19.5%
Technology	23	$582.7M	18.5%
Healthcare	16	$290.6M	9.2%
Consumer Cyclical	19	$222.0M	7.1%
Unknown	14	$188.7M	6.0%
Utilities	8	$141.8M	4.5%
Energy	6	$105.4M	3.4%
Consumer Defensive	6	$80.6M	2.6%
Communication Services	7	$36.0M	1.1%
Basic Materials	3	$8.5M	0.3%
Real Estate	1	$1.3M	0.0%