SEC 13F Intelligence

Managers / Q3 2025 · view latest →

DONALDSON CAPITAL MANAGEMENT, LLC

CIK 0001487438 · 20 NORTHWEST FIRST STREET, 5TH FLOOR, EVANSVILLE, IN, 47708 · 812-421-3211

Reported Value
$3.2B
Q3 2025
Positions
232
Filings on Record
31
2019–present window
Filed
Nov 4, 2025
original filing

Summary

Donaldson Capital Management, LLC reported $3.2B in U.S.-listed holdings across 232 positions for Q3 2025.

Its largest position, KRMN, represents 8.0% of the portfolio.

Compared with Q2 2025, the fund opened 25 new positions and exited 5.

Portfolio Metrics

Turnover
+14.3%
vs prior filed quarter
Top-10 Concentration
+42.2%
share of reported value
Largest Position
+8.0%
Karman
New / Exited
25 / 5
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. 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
Q4 ’18: $981MQ4 ’18Q1 ’19: $1.1BQ2 ’19: $1.2BQ3 ’19: $1.3BQ4 ’19: $1.5BQ4 ’19Q1 ’20: $1.1BQ2 ’20: $1.4BQ3 ’20: $1.5BQ4 ’20: $1.7BQ4 ’20Q1 ’21: $1.8BQ2 ’21: $2.0BQ3 ’21: $2.0BQ4 ’21: $2.3BQ4 ’21Q1 ’22: $2.2BQ2 ’22: $1.9BQ3 ’22: $1.8BQ4 ’22: $2.1BQ4 ’22Q1 ’23: $2.1BQ2 ’23: $2.2BQ3 ’23: $2.1BQ4 ’23: $2.2BQ4 ’23Q1 ’24: $2.4BQ2 ’24: $2.4BQ3 ’24: $2.6BQ4 ’24: $2.6BQ4 ’24Q1 ’25: $2.6BQ2 ’25: $2.7BQ3 ’25: $3.2BQ4 ’25: $3.1BQ4 ’25Q1 ’26: $3.1Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 80.3%ETP: 16.9%Other: 2.2%ADR: 0.5%REIT: 0.1%
  • Common Stock · 80.3% · $2.5B
  • ETP · 16.9% · $533M
  • Other · 2.2% · $71M
  • ADR · 0.5% · $16M
  • REIT · 0.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
KRMNKARMAN HLDGS INCNEW+3.50M3.50M+$253M$253M
TRVCCITIGROUP INCNEW+581.2K581.2K+$59M$59M
EATON CORP PLCNEW+152.2K152.2K+$57M$57M
HDBHDFC BANK LTDNEW+178.7K178.7K+$6M$6M
APHAMPHENOL CORP NEWNEW+38.7K38.7K+$5M$5M
SPDR SERIES TRUSTNEW+11.7K11.7K+$918,458$918,458
ISHARES TRNEW+10.0K10.0K+$873,458$873,458
DFACDIMENSIONAL ETF TRUSTNEW+20.7K20.7K+$799,286$799,286

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

Holdings — Q3 2025

46 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1KRMNKARMAN HLDGS INChistory →COMMON STOCK8.00%$253M3.50M
2ISHARES TRULTRA SHORT DUR · ISHARES SEMICDTR · CORE US AGGBD ET · IBOXX INV CP ETF6.72%$212M2.62M
3AVGOBROADCOM INChistory →COM5.30%$167M507.7K
4XLCSELECT SECTOR SPDR TRhistory →COMMUNICATION · TECHNOLOGY4.69%$148M1.19M
5AAPLAPPLE INChistory →COM4.58%$145M568.6K
6MSFTMICROSOFT CORPhistory →COM4.55%$144M277.3K
7ABBVABBVIE INChistory →COM3.54%$112M482.2K
8JPMJPMORGAN CHASE & CO.history →COM3.43%$108M343.5K
9COSTCOSTCO WHSL CORP NEWhistory →COM2.55%$80M86.9K
10HDHOME DEPOT INChistory →COM2.53%$80M197.0K
11DWDMORGAN STANLEYhistory →COM NEW2.35%$74M467.2K
12FASTFASTENAL COhistory →COM2.30%$73M1.48M
13MRKMERCK & CO INChistory →COM2.09%$66M786.9K
14EXMOCEXXON MOBIL CORPhistory →COM2.07%$65M579.4K
15MCDMCDONALDS CORPhistory →COM2.07%$65M214.6K
16RTXRTX CORPORATIONhistory →COM2.02%$64M381.3K
17TXNTEXAS INSTRS INChistory →COM1.96%$62M337.6K
18TRVCCITIGROUP INChistory →COM NEW1.87%$59M581.2K
19EATON CORP PLCSHS1.80%$57M152.2K
20GSGOLDMAN SACHS GROUP INChistory →COM1.77%$56M70.2K
21WMWASTE MGMT INC DELhistory →COM1.74%$55M248.9K
22PAYXPAYCHEX INChistory →COM1.70%$54M423.2K
23SOSOUTHERN COhistory →COM1.69%$53M563.0K
24UNHUNITEDHEALTH GROUP INChistory →COM1.68%$53M153.7K
25WECWEC ENERGY GROUP INChistory →COM1.62%$51M447.5K
26WSOWATSCO INChistory →COM1.60%$50M124.8K
27IBMINTERNATIONAL BUSINESS MACHShistory →COM1.44%$45M160.8K
28TROWPRICE T ROWE GROUP INChistory →COM1.31%$41M404.1K
29CHVCHEVRON CORP NEWhistory →COM0.98%$31M198.7K
30PEPPEPSICO INChistory →COM0.90%$28M202.3K
31ISHARES U S ETF TRSHORT DURATION B0.73%$23M449.1K
32J P MORGAN EXCHANGE TRADED FULTRA SHRT ETF0.62%$20M387.9K
33LLYELI LILLY & COhistory →COM0.61%$19M25.4K
34SCHWAB STRATEGIC TRUS LCAP GR ETF0.60%$19M589.5K
35GOOGLALPHABET INChistory →CAP STK CL A0.57%$18M74.0K
36AMZNAMAZON COM INChistory →COM0.55%$17M79.0K
37NVDANVIDIA CORPORATIONhistory →COM0.50%$16M85.1K
38VVISA INChistory →COM CL A0.46%$14M42.1K
39ACCENTURE PLC IRELANDSHS CLASS A0.41%$13M52.7K
40DUTMOODYS CORPhistory →COM0.41%$13M26.9K
41MAMASTERCARD INCORPORATEDhistory →CL A0.40%$13M22.3K
42ADPAUTOMATIC DATA PROCESSING INhistory →COM0.40%$13M43.0K
43VANGUARD INDEX FDSS&P 500 ETF SHS0.36%$11M18.4K
44APPAPPLOVIN CORPhistory →COM CL A0.32%$10M14.1K
45VANGUARD SPECIALIZED FUNDSDIV APP ETF0.30%$9M44.0K
46BLKBLACKROCK INCCOM0.30%$9M8.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.1B235Apr 30, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.1B231Jan 14, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.2B232Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$2.7B212Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.6B221Apr 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.6B213Feb 7, 202513F-HRchanges · EDGAR ↗
Q3 2024$2.6B214Oct 29, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.4B209Jul 31, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.4B205Apr 22, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.2B214Jan 30, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.1B223Oct 11, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.2B229Jul 17, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.1B221Apr 13, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.1B223Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.8B220Oct 13, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.9B229Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.2B252May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.3B259Jan 21, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.0B254Nov 4, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.0B251Jul 28, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.8B244May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.7B233Jan 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.5B222Nov 5, 2020RESTATEMENTchanges · EDGAR ↗
Q2 2020$1.4B201Jul 27, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.1B190Apr 16, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.5B207Jan 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.3B198Nov 4, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.2B181Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.1B173Apr 1, 201913F-HRchanges · EDGAR ↗
Q4 2018$981M169Feb 8, 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 ↗.