DONALDSON CAPITAL MANAGEMENT, LLC

CIK 0001487438 · Q2 2026

13F Equity AUM

$3.5B

+13.3% QoQ

Positions

309

+76 QoQ

AUM Rank

#1,793

Top 14%

Skill Alpha (FF)

-0.6%/yr^ns

No Clear Edge

Rank #3,713 · Top 45%

vs S&P -2.5%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 23.7%Top 10: 38.0%Top 20: 58.1%

SOXX5.6%

KRMN5.0%

AAPL4.9%

AVGO4.8%

ABBV3.5%

MSFT3.0%

LLY3.0%

MRK2.9%

JPM2.8%

ICSH2.5%

Others (299)62.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services30.9%

Industrials17.9%

Technology17.4%

Healthcare10.3%

Consumer Cyclical4.9%

Consumer Defensive4.2%

Unclassified3.4%

Utilities3.2%

Other7.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 309Median: 0.03%Avg: 0.32%

0–0.5%

266(18.0%)

0.5–1%

12(8.6%)

1–3%

24(43.7%)

3–5%

6(24.2%)

5%+

1(5.6%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 309vs 20 funds

0%Low

309

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New87Increased141Decreased58Exited11

New Positions

KMB1.7%

+534K

O1.6%

+905K

EA SERIES TRUST0.3%

+409K

VRT0.3%

+32K

SPLV0.1%

+44K

AMAT0.1%

+5K

STX0.1%

+3K

VICR0.1%

+7K

FDLO0.1%

+29K

MOAT0.1%

+19K

Increased

OKE0.9%

+328K(+1389%)

LIN1.3%

+90K(+21902%)

SCHG0.9%

+89K(+10%)

XOM0.7%

+71K(+70%)

PFF0.1%

+67K(+124%)

VUG0.2%

+65K(+499%)

SCHB0.2%

+33K(+15%)

SPY0.7%

+29K(+538%)

AAPL4.9%

+26K(+5%)

VIG0.5%

+26K(+54%)

Decreased

XLC2.1%

-458,392(-40%)

PCAR0.2%

-439,212(-91%)

ICSH2.5%

-217,230(-11%)

DWD2.2%

-101,448(-22%)

TRVC2.0%

-92,993(-16%)

AVGO4.8%

-56,616(-11%)

JPST0.6%

-42,804(-10%)

JPM2.8%

-42,176(-12%)

NEAR0.6%

-29,396(-7%)

ORLY0.1%

-10,152(-16%)

Exited

-28,398

-4,227

-107,483

-292,276

-3,110

-1,364

-490

-1,000

DHR

-1,069

WHR

-8,597

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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