SEC 13F Intelligence

Managers / Q4 2023 · view latest →

First Fiduciary Investment Counsel, Inc.

CIK 0001072843 · 6100 OAK TREE BLVD, SUITE 185, CLEVELAND, OH, 44131 · 2166439100

Reported Value
$453M
Q4 2023
Positions
63
Filings on Record
29
2019–present window
Filed
Feb 2, 2024
original filing

Summary

First Fiduciary Investment Counsel, Inc. reported $453M in U.S.-listed holdings across 63 positions for Q4 2023.

Its largest position, MSFT, represents 7.5% of the portfolio.

Compared with Q3 2023, the fund opened 4 new positions and exited 2.

Portfolio Metrics

Turnover
+5.0%
vs prior filed quarter
Top-10 Concentration
+42.7%
share of reported value
Largest Position
+7.5%
Microsoft
New / Exited
4 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $540MQ1 ’19Q2 ’19: $473MQ3 ’19: $472MQ4 ’19: $537MQ1 ’20: $378MQ1 ’20Q2 ’20: $570MQ3 ’20: $481MQ4 ’20: $534MQ1 ’21: $525MQ1 ’21Q2 ’21: $522MQ3 ’21: $513MQ4 ’21: $563MQ1 ’22: $513MQ1 ’22Q2 ’22: $442MQ3 ’22: $399MQ4 ’22: $457MQ1 ’23: $452MQ1 ’23Q2 ’23: $460MQ3 ’23: $426MQ4 ’23: $453MQ1 ’24: $482MQ1 ’24Q2 ’24: $461MQ3 ’24: $499MQ4 ’24: $492MQ1 ’25: $466MQ1 ’25Q2 ’25: $504MQ3 ’25: $514MQ4 ’25: $516MQ1 ’26: $497MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 94.5%ADR: 3.2%ETP: 2.3%
  • Common Stock · 94.5% · $428M
  • ADR · 3.2% · $15M
  • ETP · 2.3% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GSGOLDMAN SACHSNEW+13.4K13.4K+$5M$5M
HSYHERSHEY FOODSNEW+24.4K24.4K+$5M$5M
IBDT2028 ISHARES IBONDS ETFNEW+20.9K20.9K+$525,000$525,000
ALLALLSTATENEW+1.7K1.7K+$236,000$236,000
MDLZMONDELEZ INT'LADDED+61.8K66.9K+$4M$5M
MOALTRIA GROUPSOLD OUT−156.1K0−$7M$0
2023 ISHARES IBONDS ETFSOLD OUT−39.1K0−$992,000$0
JCIJOHNSON CONTROLSTRIMMED−173.1K14.1K−$9M$810,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

62 positions (from 63 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM7.45%$34M89.8K
2LOWLOWE'S COMPANIEShistory →COM6.02%$27M122.4K
3JPMJP MORGAN CHASEhistory →COM5.76%$26M153.2K
4HONHONEYWELL INT'Lhistory →COM3.82%$17M82.5K
5BLACKROCKCOM3.43%$16M19.1K
6CMCSACOMCAST CORPhistory →COM3.37%$15M347.8K
7JNJJOHNSON & JOHNSONhistory →COM3.33%$15M96.3K
8PGPROCTER & GAMBLEhistory →COM3.24%$15M100.1K
9NVSNOVARTIS AG ADRhistory →COM3.21%$15M144.0K
10PEPPEPSICOhistory →COM3.08%$14M82.2K
11UPSUPShistory →COM3.06%$14M88.0K
12CSCOCISCO SYSTEMShistory →COM2.86%$13M256.3K
13LMTLOCKHEED MARTINhistory →COM2.68%$12M26.7K
14ACNACCENTURE PLChistory →COM2.61%$12M33.7K
15PPGPPG INDUSTRIEShistory →COM2.58%$12M78.1K
16DISWALT DISNEY COhistory →COM2.53%$11M126.7K
17ALCALCON INC Fhistory →COM2.49%$11M144.6K
18ORCLORACLE CORPhistory →COM2.48%$11M106.4K
19WMWASTE MGMThistory →COM2.40%$11M60.6K
20WTWWILLIS TOWERShistory →COM2.27%$10M42.7K
21KOCOCA-COLAhistory →COM2.22%$10M170.9K
22DHRDANAHER CORPhistory →COM2.10%$10M41.1K
23SBUXSTARBUCKS CORPhistory →COM1.94%$9M91.6K
24BDXBECTON DICKINSONhistory →COM1.93%$9M35.8K
25MARMARRIOTT INT'Lhistory →COM1.92%$9M38.6K
26DDDUPONThistory →COM1.91%$9M112.3K
27TXNTEXAS INSTR.history →COM1.89%$9M50.3K
28NEENEXTERA ENERGYhistory →COM1.85%$8M138.0K
29PMPHILIP MORRIShistory →COM1.65%$7M79.5K
30SLBSLBhistory →COM1.64%$7M143.1K
31TGTTARGET CORPhistory →COM1.63%$7M51.9K
32PFEPFIZERhistory →COM1.62%$7M255.5K
33PSXPHILLIPS 66history →COM1.49%$7M50.8K
34GSGOLDMAN SACHShistory →COM1.14%$5M13.4K
35MDLZMONDELEZ INT'Lhistory →COM1.07%$5M66.9K
36HSYHERSHEY FOODShistory →COM1.00%$5M24.4K
372024 ISHARES IBONDS ETFETF0.49%$2M88.8K
382025 ISHARES IBONDS ETFETF0.45%$2M82.4K
39IBDR2026 ISHARES IBONDS ETFETF0.37%$2M70.5K
402027 ISHARES IBONDS ETFETF0.28%$1M52.5K
41HDHOME DEPOT INCCOM0.28%$1M3.6K
42AAPLAPPLE INCCOM0.23%$1M5.4K
43MRKMERCK & COCOM0.23%$1M9.4K
442024 INVESCO BULLETSHARES CORP BOND ETFETF0.22%$999,00047.8K
452025 INVESCO BULLETSHARES CORP BOND ETFETF0.19%$854,00041.8K
46JCIJOHNSON CONTROLSCOM0.18%$810,00014.1K
47GOOGLALPHABET INC CL ACOM0.16%$713,0005.1K
48ABBVABBVIECOM0.15%$669,0004.3K
49IBDT2028 ISHARES IBONDS ETFETF0.12%$525,00020.9K
50WMTWALMART INCCOM0.11%$510,0003.2K
51SOSOUTHERN COCOM0.11%$480,0006.8K
52EXMOCEXXON MOBILCOM0.10%$447,0004.5K
53ABTABBOTT LABSCOM0.09%$416,0003.8K
54BSCQ2026 INVESCO BULLETSHARES CORP BOND ETFETF0.09%$386,00020.0K
55GISGENERAL MILLSCOM0.08%$373,0005.7K
56LNTALLIANT ENERGYCOM0.07%$308,0006.0K
57MCDMCDONALDS CORPCOM0.07%$297,0001.0K
58CVXCHEVRONCOM0.06%$272,0001.8K
59SFSTIFEL FINANCIALCOM0.05%$239,0003.5K
60ALLALLSTATECOM0.05%$236,0001.7K
61IVVISHARES CORE S&P 500 ETFETF0.05%$230,000482
62BSCR2027 INVESCO BULLETSHARES CORP BOND ETFETF0.05%$217,00011.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$497M66May 1, 202613F-HRchanges · EDGAR ↗
Q4 2025$516M71Jan 30, 202613F-HRchanges · EDGAR ↗
Q3 2025$514M73Nov 5, 202513F-HRchanges · EDGAR ↗
Q2 2025$504M71Jul 24, 202513F-HRchanges · EDGAR ↗
Q1 2025$466M68Apr 25, 202513F-HRchanges · EDGAR ↗
Q4 2024$492M66Jan 29, 202513F-HRchanges · EDGAR ↗
Q3 2024$499M68Nov 1, 202413F-HRchanges · EDGAR ↗
Q2 2024$461M64Aug 7, 202413F-HRchanges · EDGAR ↗
Q1 2024$482M65Apr 24, 202413F-HRchanges · EDGAR ↗
Q4 2023$453M63Feb 2, 202413F-HRchanges · EDGAR ↗
Q3 2023$426M61Nov 7, 202313F-HRchanges · EDGAR ↗
Q2 2023$460M63Jul 21, 202313F-HRchanges · EDGAR ↗
Q1 2023$452M66May 4, 202313F-HRchanges · EDGAR ↗
Q4 2022$457M64Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$399M64Oct 31, 202213F-HRchanges · EDGAR ↗
Q2 2022$442M67Jul 19, 202213F-HRchanges · EDGAR ↗
Q1 2022$513M69Apr 21, 202213F-HRchanges · EDGAR ↗
Q4 2021$563M67Jan 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$513M65Oct 7, 202113F-HRchanges · EDGAR ↗
Q2 2021$522M66Jul 29, 202113F-HRchanges · EDGAR ↗
Q1 2021$525M70May 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$534M59Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$481M59Nov 18, 202013F-HRchanges · EDGAR ↗
Q2 2020$570M62Aug 10, 202013F-HRchanges · EDGAR ↗
Q1 2020$378M59May 12, 202013F-HRchanges · EDGAR ↗
Q4 2019$537M64Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$472M42Nov 15, 201913F-HRchanges · EDGAR ↗
Q2 2019$473M44Jul 25, 201913F-HRchanges · EDGAR ↗
Q1 2019$540M46May 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.