DONALDSON CAPITAL MANAGEMENT, LLC

CIK 0001487438 · Q1 2026

13F Equity AUM

$3.1B

-1.8% QoQ

Positions

233

+2 QoQ

AUM Rank

#1,365

Top 11%

Skill Alpha (FF)

-0.8%/yr^ns

No Clear Edge

Rank #3,406 · Top 41%

vs S&P -5.1%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 26.2%Top 10: 42.2%Top 20: 64.4%

KRMN9.1%

AVGO5.0%

AAPL4.7%

XLC4.1%

ABBV3.4%

MSFT3.3%

JPM3.3%

SOXX3.2%

ICSH3.2%

MRK3.1%

Others (223)57.8%

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

Sector Allocation

Financial Services31.2%

Industrials23.0%

Technology16.6%

Healthcare9.4%

Consumer Cyclical5.8%

Unclassified3.6%

Utilities3.4%

Consumer Defensive3.0%

Other4.1%

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

Position Sizing

Positions: 233Median: 0.05%Avg: 0.43%

0–0.5%

196(16.6%)

0.5–1%

7(4.7%)

1–3%

20(36.5%)

3–5%

9(33.1%)

5%+

1(9.1%)

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

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Portfolio Overlap

Shared: 232Unique: 1vs 20 funds

3.2%Low

233

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)

BANK OF AMERICA CORP /DE/

4.9%

4.7%

4.3%

7.6%

5.5%

5.1%

VANGUARD CAPITAL MANAGEMENT LLC

4.5%

GEODE CAPITAL MANAGEMENT, LLC

4.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

5.3%

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

New11Increased91Decreased101Exited11

New Positions

LPLA0.3%

+28K

IBKR0.3%

+125K

MKL0.3%

+4K

MU0.2%

+22K

DYH0.0%

+11K

ISRG0.0%

+549

KLAC0.0%

+141

IBIT0.0%

+7K

PSX0.0%

+1K

SCHX0.0%

+14K

Increased

PCAR1.8%

+254K(+110%)

CIT1.1%

+181K(+1101%)

SCHG0.8%

+153K(+22%)

PAYX1.7%

+149K(+37%)

HDB0.2%

+61K(+26%)

WSO1.9%

+53K(+48%)

SCHD0.3%

+31K(+12%)

SCHB0.2%

+28K(+15%)

UBER0.3%

+24K(+24%)

XEL1.2%

+24K(+5%)

Decreased

SO0.1%

-544,418(-95%)

XOM0.6%

-477,470(-83%)

ICSH3.2%

-224,762(-10%)

PGR0.0%

-35,390(-91%)

GE0.0%

-28,196(-93%)

ACN0.2%

-18,483(-42%)

NEAR0.7%

-14,253(-3%)

JPST0.7%

-12,112(-3%)

UNH0.0%

-10,870(-78%)

ORLY0.2%

-10,510(-15%)

Exited

-503,548

BKNG

-1,565

SHW

-656

PLTR

-1,363

-1,210

-2,788

-1,749

-4,066

-502

-1,547

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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