CLIFFORD SWAN INVESTMENT COUNSEL LLC

CIK 0001034642 · Q1 2026

13F Equity AUM

$2.9B

-2.5% QoQ

Positions

332

+9 QoQ

AUM Rank

#1,418

Top 11%

Skill Alpha (FF)

-1.3%/yr^ns

No Clear Edge

Rank #4,212 · Top 51%

vs S&P -4.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 19.8%Top 10: 30.4%Top 20: 44.1%

AAPL5.7%

GOOGL3.8%

MSFT3.8%

COST3.3%

UPS3.2%

BRK/B2.7%

CHV2.2%

ANET2.1%

JPM1.8%

JNJ1.8%

Others (322)69.6%

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

Sector Allocation

Technology22.3%

Industrials16.0%

Financial Services13.8%

Healthcare12.2%

Consumer Cyclical9.0%

Consumer Defensive8.3%

Communication Services6.6%

Energy6.0%

Other5.8%

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

Position Sizing

Positions: 332Median: 0.04%Avg: 0.30%

0–0.5%

274(25.2%)

0.5–1%

30(21.8%)

1–3%

23(33.2%)

3–5%

4(14.2%)

5%+

1(5.7%)

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

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Portfolio Overlap

Shared: 329Unique: 3vs 20 funds

4.5%Low

332

Fund positions

7,299

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.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

6.3%

BANK OF AMERICA CORP /DE/

6.9%

6.6%

10.6%

7.5%

7.5%

VANGUARD CAPITAL MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

6.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

8.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New17Increased56Decreased165Exited8

New Positions

VRSK0.0%

+3K

CI0.0%

+848

AMAT0.0%

+1K

CGDV0.0%

+6K

KLAC0.0%

+163

IXC0.0%

+5K

CATF0.0%

+6K

WAT0.0%

+742

STX0.0%

+647

ATMU0.0%

+4K

Increased

ZTS0.6%

+79K(+116%)

MDLZ0.7%

+51K(+17%)

OTIS0.2%

+49K(+117%)

KMX0.5%

+23K(+8%)

INTU0.8%

+14K(+32%)

SLB1.0%

+10K(+2%)

ACN1.3%

+7K(+4%)

NVO0.4%

+6K(+2%)

SPY0.5%

+5K(+26%)

PFE0.5%

+4K(+1%)

Decreased

INTC0.6%

-35,594(-8%)

GOOG1.3%

-22,065(-14%)

GOOGL3.8%

-21,621(-5%)

SLV0.0%

-21,047(-54%)

Q0.3%

-20,561(-20%)

AAPL5.7%

-20,034(-3%)

BAC0.2%

-19,745(-15%)

ANET2.1%

-18,269(-3%)

RTX1.4%

-17,628(-8%)

WFC1.2%

-17,047(-4%)

Exited

-28,503

-36,440

-900

-780

-1,360

-5,123

-929

-8,140

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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