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Johnson Investment Counsel Inc

13F for the quarter to June 30, 2026, filed July 23, 2026 · SEC CIK 821197

Reported value
$13.7bn
61% in companies we cover
Positions we cover
521
Largest AAPL 3.8%
Copy, a year
+13.2%
S&P 500 +14.1%
Copy Sharpe ratio
0.77
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$51.5k
CopyS&P 500 $10,000 copying Johnson Investment Counsel Inc's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −31.4% (S&P 500 −31.8%); beta 0.90; alpha +0.3% a year (t = 0.25); last 12 months +13.7% against +12.1%.

Reported value by quarter

Johnson Investment Counsel Inc: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $2T $4T $6T $8T Reported value, 2013-06-30: $2.4B Reported value, 2013-09-30: $2.5B Reported value, 2013-12-31: $2.7B Reported value, 2014-03-31: $2.7B Reported value, 2014-06-30: $2.8B Reported value, 2014-09-30: $3B Reported value, 2014-12-31: $3B Reported value, 2015-03-31: $3B Reported value, 2015-06-30: $3B Reported value, 2015-09-30: $2.7B Reported value, 2015-12-31: $2.9B Reported value, 2016-03-31: $2.9B Reported value, 2016-06-30: $3B Reported value, 2016-09-30: $3.1B Reported value, 2016-12-31: $3.2B Reported value, 2017-03-31: $3.5B Reported value, 2017-06-30: $3.6B Reported value, 2017-09-30: $3.8B Reported value, 2017-12-31: $4B Reported value, 2018-03-31: $3.9B Reported value, 2018-06-30: $4.1B Reported value, 2018-09-30: $4.5B Reported value, 2018-12-31: $4.1B Reported value, 2019-03-31: $4.7B Reported value, 2019-06-30: $4.8B Reported value, 2019-09-30: $5B Reported value, 2019-12-31: $5.3B Reported value, 2020-03-31: $4.5B Reported value, 2020-06-30: $4.9B Reported value, 2020-09-30: $5.4B Reported value, 2020-12-31: $6B Reported value, 2021-03-31: $6.6B Reported value, 2021-06-30: $7B Reported value, 2021-09-30: $7.5B Reported value, 2021-12-31: $8.2B Reported value, 2022-03-31: $8.1B Reported value, 2022-06-30: $7B Reported value, 2022-09-30: $6.7B Reported value, 2022-12-31: $7.3T Reported value, 2023-03-31: $7.5B Reported value, 2023-06-30: $8.1B Reported value, 2023-09-30: $7.8B Reported value, 2023-12-31: $8.5B Reported value, 2024-03-31: $9.2B Reported value, 2024-06-30: $9.5B Reported value, 2024-09-30: $10.2B Reported value, 2024-12-31: $10.3B Reported value, 2025-03-31: $10.4B Reported value, 2025-06-30: $11.1B Reported value, 2025-09-30: $11.9B Reported value, 2025-12-31: $12.2B Reported value, 2026-03-31: $12.4B Reported value, 2026-06-30: $13.7B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $13.7B
View chart data
Period Reported value
2013-06-30 $2.4B
2013-09-30 $2.5B
2013-12-31 $2.7B
2014-03-31 $2.7B
2014-06-30 $2.8B
2014-09-30 $3B
2014-12-31 $3B
2015-03-31 $3B
2015-06-30 $3B
2015-09-30 $2.7B
2015-12-31 $2.9B
2016-03-31 $2.9B
2016-06-30 $3B
2016-09-30 $3.1B
2016-12-31 $3.2B
2017-03-31 $3.5B
2017-06-30 $3.6B
2017-09-30 $3.8B
2017-12-31 $4B
2018-03-31 $3.9B
2018-06-30 $4.1B
2018-09-30 $4.5B
2018-12-31 $4.1B
2019-03-31 $4.7B
2019-06-30 $4.8B
2019-09-30 $5B
2019-12-31 $5.3B
2020-03-31 $4.5B
2020-06-30 $4.9B
2020-09-30 $5.4B
2020-12-31 $6B
2021-03-31 $6.6B
2021-06-30 $7B
2021-09-30 $7.5B
2021-12-31 $8.2B
2022-03-31 $8.1B
2022-06-30 $7B
2022-09-30 $6.7B
2022-12-31 $7.3T
2023-03-31 $7.5B
2023-06-30 $8.1B
2023-09-30 $7.8B
2023-12-31 $8.5B
2024-03-31 $9.2B
2024-06-30 $9.5B
2024-09-30 $10.2B
2024-12-31 $10.3B
2025-03-31 $10.4B
2025-06-30 $11.1B
2025-09-30 $11.9B
2025-12-31 $12.2B
2026-03-31 $12.4B
2026-06-30 $13.7B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
AAPLApple Inc.3.77%$515.7m1.78M−2.8% Reduced
GOOGLAlphabet Inc. (Class A)2.83%$386.6m1.08M−1.9% Reduced
PGProcter & Gamble2.38%$326.4m2.23M+1.5% Added
MSFTMicrosoft Corporation2.38%$325.1m871.5K+2.2% Added
CINFCincinnati Financial1.92%$262.5m1.42M−2.5% Reduced
NVTnVent Electric plc1.80%$246.6m1.45M−6.6% Reduced
AMZNAmazon1.60%$219.6m921.3K−3.6% Reduced
WMBWilliams Companies1.50%$204.5m2.75M−5.1% Reduced
APHAmphenol1.28%$175.4m994.6K−1.4% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD1.21%$165.8m347.1K−3.3% Reduced
ADIAnalog Devices1.17%$160.0m402.7K+1.1% Added
AEPAmerican Electric Power1.14%$156.6m1.14M−1.9% Reduced
VVisa Inc.1.13%$154.4m450.1K+1.2% Added
AVGOBroadcom1.11%$152.1m402.7K+14.1% Added
MAMastercard1.10%$150.7m293.3K+1.0% Added
ASMLAsml Holding NV1.02%$139.7m70.2K−3.6% Reduced
NVDANVIDIA Corporation0.95%$130.0m649.8K+45.6% Added
TJXTJX Companies0.94%$128.5m848.4K−1.3% Reduced
WMWaste Management0.93%$127.0m569.7K+0.7% Added
DHRDanaher Corporation0.91%$124.4m653.2K−2.6% Reduced
NDAQNasdaq, Inc.0.89%$121.4m1.54M0.0%
AXSAxis Capital Holdings LTD0.88%$120.5m1.12M−3.3% Reduced
KOThe Coca-Cola Company0.82%$112.8m1.39M−2.6% Reduced
HUBBHubbell Incorporated0.81%$110.8m211.9K+136.6% Added
LNTAlliant Energy0.80%$109.5m1.44M−14.9% Reduced
CVXChevron Corporation0.74%$101.9m614.6K−4.5% Reduced
CORCencora0.69%$93.9m331.8K−8.7% Reduced
NDSNNordson Corporation0.66%$90.6m300.4K−1.9% Reduced
ABTAbbott Laboratories0.65%$89.5m986.6K−3.5% Reduced
ITWIllinois Tool Works0.64%$88.1m325.8K+1.4% Added
COSTCostco0.64%$87.8m93.9K+11.2% Added
SYKStryker Corporation0.63%$86.1m273.5K+27.6% Added
MCDMcDonald's0.61%$84.2m311.5K+0.4%
WMTWalmart0.59%$80.7m712.1K−0.6% Reduced
MRSHMarsh McLennan0.58%$79.7m478.0K−2.6% Reduced
JPMJPMorgan Chase0.57%$78.2m238.9K+2.1% Added
PEPPepsiCo0.54%$73.5m542.8K−1.0% Reduced
UMBFUMB Financial Corp0.52%$71.5m500.7K+3.7% Added
LOWLowe's0.51%$69.5m315.4K+1.2% Added
WTWWillis Towers Watson0.47%$64.5m247.0K−14.3% Reduced
CLColgate-Palmolive0.46%$62.9m685.7K+6.6% Added
BKRBaker Hughes0.45%$62.0m1.12M+14.0% Added
LHLabcorp0.45%$61.2m218.7K+9.6% Added
TSLATesla, Inc.0.44%$60.6m144.1K+1.2% Added
NOWServiceNow0.43%$59.0m594.1K+250.1% Added
AVYAvery Dennison0.42%$57.0m351.1K−4.6% Reduced
IEXIDEX Corporation0.39%$53.7m236.5K−3.0% Reduced
AXPAmerican Express0.39%$53.3m157.6K−1.5% Reduced
FHNFirst Horizon Corp0.38%$51.4m2.01M−8.9% Reduced
CMGChipotle Mexican Grill0.37%$50.6m1.49M+12.9% Added
HONHoneywell Technologies0.34%$46.1m206.1KNew
APOApollo Global Management0.34%$45.9m388.2K−7.7% Reduced
HONAHoneywell Aerospace0.33%$45.5m205.7KNew
JNJJohnson & Johnson0.32%$43.3m170.3K−2.1% Reduced
ACNAccenture0.30%$41.6m334.1K−5.2% Reduced
LLYLilly (Eli)0.29%$39.7m33.1K−5.5% Reduced
CSLCarlisle Companies Inc0.29%$39.7m109.4K−14.5% Reduced
ABBVAbbVie0.29%$39.1m155.3K−1.9% Reduced
AFGAmerican Financial Group Inc0.26%$35.5m253.9K−44.2% Reduced
SPGIS&P Global0.26%$35.5m87.2K−8.4% Reduced
HDThe Home Depot0.25%$34.3m97.4K−2.2% Reduced
SHWSherwin-Williams0.23%$31.9m92.5K−1.2% Reduced
METAMeta Platforms0.23%$31.3m55.5K+5.8% Added
GPCGenuine Parts Company0.22%$30.3m257.0K−15.2% Reduced
USBU.S. Bancorp0.22%$30.3m501.7K−4.8% Reduced
GEGE Aerospace0.21%$29.3m78.4K+2.1% Added
NEENextEra Energy0.21%$28.8m327.8K−4.0% Reduced
CTASCintas0.21%$28.2m165.8K+4.4% Added
ROPRoper Technologies0.20%$27.6m81.5K−28.2% Reduced
PNCPNC Financial Services0.18%$24.5m99.5K−1.3% Reduced
CSCOCisco0.17%$23.7m201.6K−1.7% Reduced
INTUIntuit0.16%$22.3m85.3K−26.0% Reduced
MSIMotorola Solutions0.15%$20.0m48.3K+2.7% Added
ADPAutomatic Data Processing0.15%$20.0m89.3K−0.8% Reduced
ORCLOracle Corporation0.14%$19.4m132.7K−2.6% Reduced
MDTMedtronic0.14%$19.4m247.5K−56.9% Reduced
ZTSZoetis0.12%$16.9m235.6K−41.3% Reduced
DOVDover Corporation0.12%$16.1m71.6K−19.5% Reduced
AMATApplied Materials0.11%$15.7m21.7K+0.8% Added
INTCIntel0.11%$15.4m110.1K+6.5% Added
FICOFair Isaac0.11%$15.1m12.6K+24.3% Added
NOCNorthrop Grumman0.11%$14.6m28.7K−4.1% Reduced
CATCaterpillar Inc.0.10%$13.7m12.9K−2.0% Reduced
ISRGIntuitive Surgical0.10%$13.1m32.9K+0.6% Added
MRKMerck & Co.0.09%$12.4m96.5K−3.4% Reduced
MUMicron Technology0.09%$12.1m10.5K+15.6% Added
BACBank of America0.09%$12.1m211.7K−5.7% Reduced
EMREmerson Electric0.08%$11.3m78.6K−7.6% Reduced
UNPUnion Pacific Corporation0.08%$11.1m40.8K−1.1% Reduced
LMTLockheed Martin0.08%$10.7m21.0K+2.9% Added
IBMIBM0.08%$10.4m37.1K−9.1% Reduced
LRCXLam Research0.07%$10.2m23.6K+2.9% Added
PANWPalo Alto Networks0.07%$10.2m29.8K+8.0% Added
GEVGE Vernova0.07%$9.8m8.4K+3.6% Added
KRKroger0.07%$9.5m171.9K+0.9% Added
NSCNorfolk Southern0.07%$9.3m29.6K+1.1% Added
PMPhilip Morris International0.06%$8.8m48.7K−3.9% Reduced
AMGNAmgen0.06%$8.5m23.6K−1.9% Reduced
AMEAmetek0.06%$8.4m34.7K0.0%
FITBFifth Third Bancorp0.06%$8.4m148.1K+1.8% Added
UNHUnitedHealth Group0.06%$8.2m19.7K−28.9% Reduced
BABoeing0.06%$7.9m36.5K−0.6% Reduced
KLACKLA Corporation0.05%$7.4m24.5K+823.2% Added
BKNGBooking Holdings0.05%$7.2m40.6K+2300.3% Added
ODFLOld Dominion0.05%$6.4m29.7K+24.7% Added
NWBINorthwest Bancshares, Inc.0.05%$6.4m419.6K0.0%
PCARPaccar0.05%$6.3m52.1K−0.3%
PGRProgressive Corporation0.04%$6.2m28.2K+0.2%
LINLinde plc0.04%$6.1m11.7K−0.9% Reduced
TXNTexas Instruments0.04%$6.0m20.2K+3.8% Added
FFBCFirst Financial Bancorp0.04%$6.0m177.6K−5.3% Reduced
RTXRTX Corporation0.04%$6.0m31.4K+2.2% Added
MOAltria0.04%$5.6m78.1K−1.5% Reduced
BMYBristol Myers Squibb0.04%$5.4m93.5K+0.3%
MMM3M0.04%$5.3m32.7K−3.9% Reduced
AMDAdvanced Micro Devices0.04%$5.3m9.1K+11.9% Added
APDAir Products0.04%$5.2m17.9K−1.8% Reduced
QCOMQualcomm0.04%$5.2m27.9K−12.5% Reduced
DUKDuke Energy0.04%$5.1m39.9K+1.0% Added
COPConocoPhillips0.04%$4.9m47.2K−0.3%
AONAon plc0.04%$4.9m14.8K−1.4% Reduced
CSXCSX Corporation0.03%$4.7m98.8K−1.7% Reduced
CBChubb Limited0.03%$4.7m13.8K−3.9% Reduced
DISThe Walt Disney Company0.03%$4.7m48.6K−3.9% Reduced
JLLJones Lang Lasalle Inc0.03%$4.4m14.3K+1.3% Added
GSGoldman Sachs0.03%$4.4m4.4K−3.6% Reduced
AXONAxon Enterprise0.03%$4.3m7.7K0.0%
CRLCharles River Laboratories0.03%$4.3m18.8K−29.5% Reduced
DEDeere & Company0.03%$4.3m6.7K−5.1% Reduced
SNXTD Synnex Corp0.03%$4.2m15.5K−6.3% Reduced
ALLAllstate0.03%$4.1m17.3K−5.1% Reduced
RSReliance, Inc.0.03%$4.0m10.8K−11.5% Reduced
PSXPhillips 660.03%$4.0m23.5K−0.8% Reduced
BNYBNY Mellon0.03%$3.9m26.7K+1.3% Added
DTDynatrace, Inc.0.03%$3.8m86.9K−21.7% Reduced
RUSHARush Enterprises Inc \tx\0.03%$3.8m52.2K−12.3% Reduced
GLWCorning Inc.0.03%$3.8m14.8K−15.8% Reduced
ETNEaton Corporation0.03%$3.7m8.8K−2.5% Reduced
VZVerizon0.03%$3.7m88.5K−6.4% Reduced
PHParker Hannifin0.03%$3.7m3.8K−2.4% Reduced
VRTXVertex Pharmaceuticals0.03%$3.7m7.4K+0.2%
ESIElement Solutions Inc0.03%$3.6m74.9K−22.9% Reduced
SCHWCharles Schwab Corporation0.03%$3.5m37.8K+9.7% Added
LFUSLittelfuse Inc0.03%$3.4m7.5K−21.4% Reduced
DCIDonaldson Co Inc0.03%$3.4m38.2K0.0%
SBUXStarbucks0.03%$3.4m33.5K−0.8% Reduced
AITApplied Industrial Technologies Inc0.02%$3.3m9.8K−14.1% Reduced
RPMRPM International Inc0.02%$3.3m29.3K−0.1%
ITTITT Inc.0.02%$3.3m16.5K0.0%
CHEChemed Corp0.02%$3.2m6.9K−17.7% Reduced
CompanyBought (value)Shares
HUBBHubbell Incorporated$64.0m122.3K
HONHoneywell Technologies$46.1m206.1K
HONAHoneywell Aerospace$45.5m205.7K
NOWServiceNow$42.1m424.4K
NVDANVIDIA Corporation$40.7m203.4K
AVGOBroadcom$18.8m49.9K
SYKStryker Corporation$18.7m59.2K
COSTCostco$8.8m9.4K
BKRBaker Hughes$7.6m137.5K
MSFTMicrosoft Corporation$7.1m19.1K
BKNGBooking Holdings$6.9m38.9K
KLACKLA Corporation$6.6m21.8K
CMGChipotle Mexican Grill$5.8m170.4K
LHLabcorp$5.4m19.2K
PGProcter & Gamble$4.9m33.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
AFGAmerican Financial Group Inc−$28.1m−200.8K
MDTMedtronic−$25.6m−326.9K
LNTAlliant Energy−$19.1m−250.6K
NVTnVent Electric plc−$17.5m−103.1K
AAPLApple Inc.−$15.1m−52.0K
ZTSZoetis−$11.9m−165.8K
WMBWilliams Companies−$10.9m−147.1K
ROPRoper Technologies−$10.8m−32.0K
WTWWillis Towers Watson−$10.7m−41.1K
CORCencora−$9.0m−31.7K
AMZNAmazon−$8.1m−34.0K
INTUIntuit−$7.8m−30.1K
GOOGLAlphabet Inc. (Class A)−$7.4m−20.7K
CSLCarlisle Companies Inc−$6.7m−18.6K
CINFCincinnati Financial−$6.6m−35.8K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
WKCWorld Kinect Corp$2.1m91.5K
MUSAMurphy USA Inc.$1.6m3.3K
GLOBGlobant S.a.$1.0m22.0K
SPSCSPS Commerce Inc$854,25615.3K
MAAMid-America Apartment Communities$845,1936.9K
JBLJabil$686,3882.6K
APTVAptiv$436,7786.3K
PRKPark National Corp$380,0212.3K
UUnity Software Inc.$379,03517.3K
OKLOOklo Inc.$283,0105.7K
WSBCWesbanco Inc$246,1647.1K
ADSKAutodesk, Inc.$235,330983
EFXEquifax$216,2641.2K
CNQCanadian Natural Resources Ltd$213,4374.4K
TSNTyson Foods$207,9073.2K
GISGeneral Mills$202,8055.4K
CLFCleveland-cliffs Inc.$85,43810.1K
  • Technology25.7%
  • Financials18.1%
  • Industrials13.9%
  • Consumer Staples9.4%
  • Health Care8.7%
  • Consumer Discretionary8.5%
  • Communication Services5.2%
  • Energy4.8%
  • Utilities3.9%
  • Materials1.5%
  • Real Estate0.3%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+13.2%+14.1%0.770.78−31.4%0.90
2018 onwardsJanuary 5, 2018 to November 2, 2026+13.3%+13.9%0.660.66−31.4%0.89
Last three yearsNovember 3, 2023 to November 2, 2026+16.9%+21.8%1.081.16−13.0%0.70
Last yearNovember 7, 2025 to November 2, 2026+14.3%+14.2%1.080.84−7.8%0.60

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.