Skip to main content
Livermore
Livermore
ZHEN

Donaldson Capital Management, LLC

SEC CIK
0001487438
Latest filing
Aug 5, 2026

The latest 13F from Donaldson Capital Management, LLC covers Q2 2026 (filed Aug 5, 2026): 309 long positions worth $3.50B. The top 10 holdings make up 38.1% of the portfolio, and the largest is iShares Semiconductor ETF at 5.6%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
88
Est. +$184.1M
Added
137
Est. +$250.2M
Reduced
60
Est. −$216.2M
Sold out
12
Est. −$35.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Semiconductor ETF464287523
    5.6%$195.4M
  2. KRMNKarman Holdings Inc.
    5.0%$174.8MHistory
  3. AAPLApple Inc.
    4.9%$171.4MHistory
  4. AVGOBroadcom Inc.
    4.8%$166.3MHistory
  5. ABBVAbbVie Inc.
    3.5%$122.2MHistory

Share of portfolio

Top 5 holdings and the other 304 positions, by share of portfolio value

  1. iShares Semiconductor ETF5.6%
  2. KRMN5.0%
  3. AAPL4.9%
  4. AVGO4.8%
  5. ABBV3.5%
  6. Other 304 positions76.3%

Biggest buys

New and added positions, by estimated amount bought

  1. KMBKimberly Clark Corp
    +$58.7MNewHistory
  2. ORealty Income Corp
    +$56.1MNewHistory
  3. LINLinde PLC
    +$46.6MAddedHistory
  4. OKEONEOK Inc
    +$28.5MAddedHistory
  5. SPYSPDR S&P 500 ETF Trust
    +$21.7MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. iShares Semiconductor ETF464287523
    +2.38 pp3.2% → 5.6%
  2. KMBKimberly Clark Corp
    +1.68 pp0.0% → 1.7%History
  3. ORealty Income Corp
    +1.60 pp0.0% → 1.6%History
  4. LINLinde PLC
    +1.33 pp<0.1% → 1.3%History
  5. LLYEli Lilly & Co
    +0.84 pp2.2% → 3.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. PCARPaccar Inc
    −$52.8MReducedHistory
  2. State Street Communication Services Select Sector SPDR ETF81369Y852
    −$49.1MReduced
  3. AVGOBroadcom Inc.
    −$21.4MReducedHistory
  4. MSMorgan Stanley
    −$21.2MReducedHistory
  5. JPMJPMorgan Chase & Co
    −$13.8MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. State Street Communication Services Select Sector SPDR ETF81369Y852
    −2.01 pp4.1% → 2.1%
  2. PCARPaccar Inc
    −1.66 pp1.8% → 0.2%History
  3. iShares Tr46434V878
    −0.69 pp3.2% → 2.5%
  4. COSTCostco Wholesale Corp
    −0.46 pp2.7% → 2.2%History
  5. JPMJPMorgan Chase & Co
    −0.45 pp3.3% → 2.8%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.50B
+$410.3M (+13.3%) vs. prior quarter
Positions
309
+76 vs. prior quarter
Top 10 concentration
38.1%
Top 10 as share of value
Turnover
7.6%
Q2 2026, one quarter
Average holding period
16.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.50B (Q2 2026)

Q1 2021: $1.82BQ2 2021: $1.95BQ3 2021: $1.98BQ4 2021: $2.27BQ1 2022: $2.20BQ2 2022: $1.94BQ3 2022: $1.82BQ4 2022: $2.05BQ1 2023: $2.12BQ2 2023: $2.19BQ3 2023: $2.12BQ4 2023: $2.23BQ1 2024: $2.40BQ2 2024: $2.38BQ3 2024: $2.60BQ4 2024: $2.62BQ1 2025: $2.65BQ2 2025: $2.72BQ3 2025: $3.16BQ4 2025: $3.14BQ1 2026: $3.09BQ2 2026: $3.50B
Q1 2021Q2 2026
13F filings of Donaldson Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 5, 2026309$3.50BiShares Semiconductor ETFKRMNAAPLvs. Q1 2026SEC
Q1 2026Apr 30, 2026233$3.09BKRMNAVGOAAPLvs. Q4 2025SEC
Q4 2025Jan 14, 2026231$3.14BKRMNAVGOAAPLvs. Q3 2025SEC
Q3 2025Nov 4, 2025232$3.16BKRMNAVGOAAPLvs. Q2 2025SEC
Q2 2025Aug 7, 2025212$2.72BAVGOMSFTAAPLvs. Q1 2025SEC
Q1 2025Apr 15, 2025221$2.65BAAPLiShares TrMSFTvs. Q4 2024SEC
Q4 2024Feb 7, 2025213$2.62BAAPLAVGOMSFTvs. Q3 2024SEC
Q3 2024Oct 29, 2024214$2.60BAAPLAVGOMSFTvs. Q2 2024SEC
Q2 2024Jul 31, 2024209$2.38BMSFTAAPLAVGOvs. Q1 2024SEC
Q1 2024Apr 22, 2024205$2.40BiShares TrMSFTAAPLvs. Q4 2023SEC
Q4 2023Jan 30, 2024214$2.23BMSFTAAPLiShares Trvs. Q3 2023SEC
Q3 2023Oct 11, 2023223$2.12BMSFTAAPLiShares Trvs. Q2 2023SEC
Q2 2023Jul 17, 2023229$2.19BAAPLMSFTAVGOvs. Q1 2023SEC
Q1 2023Apr 13, 2023221$2.12BAAPLMSFTABBVvs. Q4 2022SEC
Q4 2022Feb 8, 2023223$2.05BAAPLMSFTABBVvs. Q3 2022SEC
Q3 2022Oct 13, 2022220$1.82BAAPLMSFTNEEvs. Q2 2022SEC
Q2 2022Aug 11, 2022229$1.94BAAPLMSFTABBVvs. Q1 2022SEC
Q1 2022May 13, 2022252$2.20BAAPLMSFTABBVvs. Q4 2021SEC
Q4 2021Jan 21, 2022259$2.27BAAPLMSFTACNvs. Q3 2021SEC
Q3 2021Nov 4, 2021254$1.98BAAPLMSFTACNvs. Q2 2021SEC
Q2 2021Jul 28, 2021251$1.95BAAPLMSFTBLKvs. Q1 2021SEC
Q1 2021May 5, 2021241$1.82BAAPLMSFTABBV–SEC