CLIFFORD SWAN INVESTMENT COUNSEL LLC

PASADENA, CA · CIK 1034642 · 13F filing filed 2023-05-05

SEC-registered investment adviser since 1999 · limited liability company

Assets managed$4.5bn
Staff40 · 17 in investment roles
Main clients (by assets)High net worth individuals 82%, Charities 12%, Companies 4%
Form ADV · 2026-02-10SEC adviser record

Legal entityCLIFFORD SWAN INVESTMENT COUNSEL LLC (US)

Kindwealth
Others nearbyPasadena, CA

$2.4bn reported value +4.0% vs Q4 2022

294positions

30.5%in top 10

8 new 37 added 180 reduced 17 sold out vs Q4 2022

Holdings, Q1 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	UNITED PARCEL SERVICE INC CL B UPS	UPS	698,909	$135.6m5.67%	5.67%	Reduced -15.3k	-15,289 -2.1%
2	APPLE INC COM AAPL	AAPL	808,920	$133.4m5.58%	5.58%	Reduced -20.1k	-20,069 -2.4%
3	MICROSOFT CORP COM MSFT	MSFT	337,777	$97.4m4.07%	4.07%	Added +11.1k	+11,109 3.4%
4	COSTCO WHSL CORP NEW COM COST	COST	128,013	$63.6m2.66%	2.66%	Reduced -3.6k	-3,613 -2.7%
5	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	200,839	$62.0m2.59%	2.59%	Reduced -3.3k	-3,328 -1.6%
6	CHEVRON CORP NEW COM CVX	CVX	335,421	$54.7m2.29%	2.29%	Reduced -2.3k	-2,261 -0.7%
7	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	181,409	$51.8m2.17%	2.17%	Reduced -2.6k	-2,627 -1.4%
8	ALPHABET INC CAP STK CL A GOOGL	GOOGL	453,941	$47.1m1.97%	1.97%	Added +1.2k	+1,223 0.3%
9	LOWES COS INC COM LOW	LOW	219,987	$44.0m1.84%	1.84%	Reduced -5.8k	-5,807 -2.6%
10	JOHNSON & JOHNSON COM JNJ	JNJ	258,339	$40.0m1.67%	1.67%	Reduced -1.6k	-1,628 -0.6%
11	EXXON MOBIL CORP COM XOM	XOM	343,642	$37.7m1.58%	1.58%	Reduced -7.2k	-7,238 -2.1%
12	ARISTA NETWORKS INC COM COM		209,533	$35.2m1.47%	1.47%	Reduced -7.0k	-6,961 -3.2%
13	TRACTOR SUPPLY CO COM TSCO	TSCO	146,109	$34.3m1.44%	1.44%	Reduced -4.1k	-4,085 -2.7%
14	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	444,867	$30.8m1.29%	1.29%	Reduced -2.6k	-2,615 -0.6%
15	ORACLE CORP COM ORCL	ORCL	310,530	$28.9m1.21%	1.21%	Reduced -14.5k	-14,459 -4.5%
16	ABBVIE INC COM ABBV	ABBV	178,716	$28.5m1.19%	1.19%	Reduced -4.2k	-4,172 -2.3%
17	JPMORGAN CHASE & CO COM JPM	JPM	218,537	$28.5m1.19%	1.19%	Reduced -1.4k	-1,430 -0.7%
18	EMERSON ELEC CO COM EMR	EMR	320,541	$27.9m1.17%	1.17%	Reduced -3.3k	-3,286 -1.0%
19	INTEL CORP COM INTC	INTC	828,276	$27.1m1.13%	1.13%	Added +41.9k	+41,943 5.3%
20	QUALCOMM INC COM QCOM	QCOM	210,431	$26.8m1.12%	1.12%	Reduced -1.3k	-1,287 -0.6%
21	STRYKER CORPORATION COM SYK	SYK	94,000	$26.8m1.12%	1.12%	Reduced -3.6k	-3,599 -3.7%
22	NIKE INC CL B NKE	NKE	218,625	$26.8m1.12%	1.12%	Reduced -1.2k	-1,153 -0.5%
23	FASTENAL CO COM FAST	FAST	476,469	$25.7m1.08%	1.08%	Reduced -9.5k	-9,480 -1.9%
24	PROCTER AND GAMBLE CO COM PG	PG	170,589	$25.4m1.06%	1.06%	Reduced -2.0k	-1,999 -1.2%
25	MCDONALDS CORP COM MCD	MCD	90,564	$25.3m1.06%	1.06%	Reduced -1.1k	-1,067 -1.2%
26	WELLS FARGO CO NEW COM WFC	WFC	665,867	$24.9m1.04%	1.04%	Reduced -13.6k	-13,558 -2.0%
27	ABBOTT LABS COM ABT	ABT	236,624	$24.0m1.00%	1.00%	Reduced -3.5k	-3,457 -1.4%
28	HP INC COM HPQ	HPQ	795,936	$23.4m0.98%	0.98%	Reduced -404	-404 -0.1%
29	AGILENT TECHNOLOGIES INC COM A	A	163,723	$22.6m0.95%	0.95%	Reduced -32	-32 -0.0%
30	DUPONT DE NEMOURS INC COM DWDP	DWDP	309,541	$22.2m0.93%	0.93%	Reduced -1.7k	-1,740 -0.6%
31	INTUIT COM INTU	INTU	49,209	$21.9m0.92%	0.92%	Reduced -242	-242 -0.5%
32	CORTEVA INC COM CTVA	CTVA	363,586	$21.9m0.92%	0.92%	Reduced -5.5k	-5,513 -1.5%
33	CISCO SYS INC COM CSCO	CSCO	414,021	$21.6m0.91%	0.91%	Reduced -2.5k	-2,496 -0.6%
34	ALBEMARLE CORP COM ALB	ALB	96,525	$21.3m0.89%	0.89%	Reduced -343	-343 -0.3%
35	PEPSICO INC COM PEP	PEP	116,550	$21.2m0.89%	0.89%	Reduced -2.6k	-2,616 -2.2%
36	EDWARDS LIFESCIENCES CORP COM EW	EW	255,802	$21.2m0.89%	0.89%	Reduced -505	-505 -0.2%
37	UNITEDHEALTH GROUP INC COM UNH	UNH	40,945	$19.4m0.81%	0.81%	Added +3.5k	+3,509 9.4%
38	AMERICAN EXPRESS CO COM AXP	AXP	117,071	$19.3m0.81%	0.81%	Added +9.9k	+9,916 9.2%
39	SCHLUMBERGER LTD COM STK SLB	SLB	388,116	$19.1m0.80%	0.80%	Reduced -22.0k	-22,036 -5.4%
40	ALLISON TRANSMISSION HLDGS I COM ALSN	ALSN	408,780	$18.5m0.77%	0.77%	Reduced -2.6k	-2,617 -0.6%
41	AMAZON COM INC COM AMZN	AMZN	178,055	$18.4m0.77%	0.77%	Added +2.6k	+2,635 1.5%
42	PAYPAL HLDGS INC COM PYPL	PYPL	240,079	$18.2m0.76%	0.76%	Added +7.1k	+7,081 3.0%
43	NOVO-NORDISK A S ADR NVO	NVO	108,470	$17.3m0.72%	0.72%	Reduced -2.1k	-2,081 -1.9%
44	ALPHABET INC CAP STK CL C GOOG	GOOG	165,101	$17.2m0.72%	0.72%	Reduced -1.7k	-1,660 -1.0%
45	MCKESSON CORP COM MCK	MCK	47,727	$17.0m0.71%	0.71%	Reduced -686	-686 -1.4%
46	DISNEY WALT CO COM DIS	DIS	166,360	$16.7m0.70%	0.70%	Reduced -3.2k	-3,242 -1.9%
47	STARBUCKS CORP COM SBUX	SBUX	159,260	$16.6m0.69%	0.69%	Reduced -1.9k	-1,895 -1.2%
48	RTX CORPORATION COM RTX	RTX	166,832	$16.3m0.68%	0.68%	Reduced -4.5k	-4,499 -2.6%
49	PFIZER INC COM PFE	PFE	399,495	$16.3m0.68%	0.68%	Reduced -6.5k	-6,495 -1.6%
50	COLGATE PALMOLIVE CO COM CL	CL	213,341	$16.0m0.67%	0.67%	Reduced -5.8k	-5,770 -2.6%
51	FIRST TR EXCHANGE-TRADED FD FST LOW OPPT EFT LMBS	LMBS	333,065	$15.9m0.67%	0.67%	Reduced -18.2k	-18,190 -5.2%
52	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	962,422	$15.3m0.64%	0.64%	Reduced -8.6k	-8,550 -0.9%
53	LABORATORY CORP AMER HLDGS COM NEW COM NEW		65,628	$15.1m0.63%	0.63%	Reduced -483	-483 -0.7%
54	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	90,264	$14.6m0.61%	0.61%	Added +2	+2 0.0%
55	MONDELEZ INTL INC CL A MDLZ	MDLZ	206,943	$14.4m0.60%	0.60%	Reduced -1.8k	-1,827 -0.9%
56	SYSCO CORP COM SYY	SYY	181,486	$14.0m0.59%	0.59%	Reduced -152	-152 -0.1%
57	BOOKING HOLDINGS INC COM BKNG	BKNG	5,226	$13.9m0.58%	0.58%	Reduced -14	-14 -0.3%
58	SPDR GOLD TR GOLD SHS GLD	GLD	74,110	$13.6m0.57%	0.57%	Added +581	+581 0.8%
59	INTERNATIONAL FLAVORS&FRAGRA COM IFF	IFF	137,168	$12.6m0.53%	0.53%	Added +44.5k	+44,535 48.1%
60	META PLATFORMS INC CL A META	META	58,707	$12.4m0.52%	0.52%	Reduced -4.0k	-3,958 -6.3%
61	CARMAX INC COM KMX	KMX	191,213	$12.3m0.51%	0.51%	Added +13.4k	+13,420 7.5%
62	BOEING CO COM BA	BA	57,074	$12.1m0.51%	0.51%	Reduced -2.3k	-2,306 -3.9%
63	UNION PAC CORP COM UNP	UNP	59,696	$12.0m0.50%	0.50%	Added +83	+83 0.1%
64	CONAGRA BRANDS INC COM CAG	CAG	317,557	$11.9m0.50%	0.50%	Reduced -1.3k	-1,258 -0.4%
65	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	53,139	$11.8m0.49%	0.49%	Reduced -853	-853 -1.6%
66	HONEYWELL INTL INC COM COM		60,736	$11.6m0.49%	0.49%	Reduced -225	-225 -0.4%
67	PHILIP MORRIS INTL INC COM PM	PM	118,170	$11.5m0.48%	0.48%	Reduced -866	-866 -0.7%
68	HOME DEPOT INC COM HD	HD	37,711	$11.1m0.47%	0.47%	Reduced -300	-300 -0.8%
69	CONOCOPHILLIPS COM COP	COP	111,171	$11.0m0.46%	0.46%	Reduced -1.1k	-1,098 -1.0%
70	JOHNSON CTLS INTL PLC SHS JCI	JCI	175,652	$10.6m0.44%	0.44%	Reduced -4.4k	-4,444 -2.5%
71	CATERPILLAR INC COM CAT	CAT	43,986	$10.1m0.42%	0.42%	Reduced -830	-830 -1.9%
72	AMGEN INC COM AMGN	AMGN	41,149	$9.9m0.42%	0.42%	Reduced -215	-215 -0.5%
73	NORTHROP GRUMMAN CORP COM NOC	NOC	21,221	$9.8m0.41%	0.41%	Reduced -2	-2 -0.0%
74	ILLINOIS TOOL WKS INC COM ITW	ITW	38,264	$9.3m0.39%	0.39%	Reduced -5	-5 -0.0%
75	WALMART INC COM WMT	WMT	63,164	$9.3m0.39%	0.39%	Added +7	+7 0.0%
76	NOVARTIS AG SPONSORED ADR NVS	NVS	98,092	$9.0m0.38%	0.38%	Reduced -3.8k	-3,779 -3.7%
77	MERCK & CO INC COM MRK	MRK	84,501	$9.0m0.38%	0.38%	Reduced -21	-21 -0.0%
78	PARKER-HANNIFIN CORP COM PH	PH	26,691	$9.0m0.38%	0.38%	Unchanged
79	BP PLC SPONSORED ADR BP	BP	235,855	$8.9m0.37%	0.37%	Reduced -6.1k	-6,078 -2.5%
80	VMWARE INC CL A COM VMW	VMW	71,247	$8.9m0.37%	0.37%	Reduced -1.2k	-1,195 -1.6%
81	WALGREENS BOOTS ALLIANCE INC COM WBA	WBA	253,693	$8.8m0.37%	0.37%	Added +16.3k	+16,271 6.8%
82	CARRIER GLOBAL CORPORATION COM CARR	CARR	186,792	$8.5m0.36%	0.36%	Added +332	+332 0.2%
83	EBAY INC. COM EBAY	EBAY	186,870	$8.3m0.35%	0.35%	Reduced -3.9k	-3,878 -2.0%
84	TEXAS INSTRS INC COM TXN	TXN	43,714	$8.1m0.34%	0.34%	Reduced -345	-345 -0.8%
85	PUBLIC STORAGE COM PSA	PSA	26,721	$8.1m0.34%	0.34%	Unchanged
86	3M CO COM MMM	MMM	75,254	$7.9m0.33%	0.33%	Added +4.8k	+4,817 6.8%
87	GENERAL MLS INC COM GIS	GIS	91,439	$7.8m0.33%	0.33%	Reduced -12	-12 -0.0%
88	JACOBS SOLUTIONS INC COM J	J	66,327	$7.8m0.33%	0.33%	Reduced -2.8k	-2,791 -4.0%
89	AT&T INC COM T	T	404,821	$7.8m0.33%	0.33%	Reduced -2.4k	-2,446 -0.6%
90	TARGET CORP COM TGT	TGT	44,971	$7.4m0.31%	0.31%	Reduced -15	-15 -0.0%
91	BANK NEW YORK MELLON CORP COM BNY	BNY	155,622	$7.1m0.30%	0.30%	Reduced -62.2k	-62,190 -28.6%
92	ENERGIZER HLDGS INC NEW COM ENR	ENR	203,306	$7.1m0.30%	0.30%	Reduced -5.6k	-5,600 -2.7%
93	LOCKHEED MARTIN CORP COM LMT	LMT	14,624	$6.9m0.29%	0.29%	Unchanged
94	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	51,896	$6.8m0.28%	0.28%	Reduced -1.4k	-1,377 -2.6%
95	VERIZON COMMUNICATIONS INC COM VZ	VZ	166,660	$6.5m0.27%	0.27%	Reduced -119	-119 -0.1%
96	GILEAD SCIENCES INC COM GILD	GILD	77,464	$6.4m0.27%	0.27%	Reduced -8.0k	-7,977 -9.3%
97	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	15,673	$6.4m0.27%	0.27%	Reduced -120	-120 -0.8%
98	ENTEGRIS INC COM ENTG	ENTG	77,964	$6.4m0.27%	0.27%	Added +4.5k	+4,498 6.1%
99	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	16,665	$6.3m0.26%	0.26%	Reduced -122	-122 -0.7%
100	EDGEWELL PERS CARE CO COM EPC	EPC	147,137	$6.2m0.26%	0.26%	Unchanged

Sold out since Q4 2022

Security	Ticker	Shares held before	Value then
SELECT SECTOR SPDR TR XLV	XLV	4,633	$629.4k4.6k shares
LINDE PLC 99952EUR	99952EUR	1,099	$358.5k1.1k shares
THE CIGNA GROUP CI	CI	1,038	$343.9k1.0k shares
VANGUARD WHITEHALL FDS VYM	VYM	2,687	$290.8k2.7k shares
ISHARES TR IWF	IWF	1,350	$289.2k1.4k shares
SELECT SECTOR SPDR TR XLE	XLE	2,995	$262.0k3.0k shares
ISHARES TR IWD	IWD	1,679	$254.6k1.7k shares
SCHWAB STRATEGIC TR SCHD	SCHD	3,299	$249.2k3.3k shares
AMERICA MOVIL SAB DE CV AMX	AMX	13,608	$247.7k13.6k shares
SCHWAB STRATEGIC TR SCHO	SCHO	4,660	$224.8k4.7k shares
ISHARES TR LQD	LQD	2,103	$221.7k2.1k shares
CORNING INC GLW	GLW	6,853	$218.9k6.9k shares
PNC FINL SVCS GROUP INC PNC	PNC	1,323	$209.0k1.3k shares
CHUBB LIMITED CB	CB	947	$208.9k947 shares
FIRSTENERGY CORP FE	FE	4,902	$205.6k4.9k shares
METLIFE INC MET	MET	2,833	$205.0k2.8k shares
GLOBE LIFE INC GL	GL	1,697	$204.6k1.7k shares