CLIFFORD SWAN INVESTMENT COUNSEL LLC

PASADENA, CA · CIK 1034642 · 13F filing filed 2024-08-07

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)

$2.7bn reported value -0.7% vs Q1 2024

303positions

32.4%in top 10

3 new 48 added 155 reduced 7 sold out vs Q1 2024

Holdings, Q2 2024

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	APPLE INC COM AAPL	AAPL	720,902	$151.7m5.67%	5.67%	Reduced -7.7k	-7,659 -1.1%
2	MICROSOFT CORP COM MSFT	MSFT	309,935	$138.5m5.18%	5.18%	Reduced -2.2k	-2,243 -0.7%
3	UNITED PARCEL SERVICE INC CL B UPS	UPS	863,980	$118.2m4.42%	4.42%	Reduced -1.1k	-1,053 -0.1%
4	COSTCO WHSL CORP NEW COM COST	COST	113,401	$96.4m3.61%	3.61%	Reduced -3.1k	-3,105 -2.7%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	429,597	$78.3m2.93%	2.93%	Reduced -798	-798 -0.2%
6	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	186,134	$75.7m2.83%	2.83%	Reduced -1.0k	-1,039 -0.6%
7	ARISTA NETWORKS INC COM COM		164,101	$57.5m2.15%	2.15%	Reduced -11.3k	-11,264 -6.4%
8	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	172,862	$52.4m1.96%	1.96%	Added +2.5k	+2,484 1.5%
9	CHEVRON CORP NEW COM CVX	CVX	328,652	$51.4m1.92%	1.92%	Reduced -652	-652 -0.2%
10	LOWES COS INC COM LOW	LOW	212,286	$46.8m1.75%	1.75%	Reduced -181	-181 -0.1%
11	JPMORGAN CHASE & CO COM JPM	JPM	207,959	$42.1m1.57%	1.57%	Reduced -2.6k	-2,620 -1.2%
12	ORACLE CORP COM ORCL	ORCL	274,428	$38.7m1.45%	1.45%	Reduced -695	-695 -0.2%
13	TRACTOR SUPPLY CO COM TSCO	TSCO	137,543	$37.1m1.39%	1.39%	Reduced -67	-67 -0.1%
14	EXXON MOBIL CORP COM XOM	XOM	320,947	$37.0m1.38%	1.38%	Added +61	+61 0.0%
15	QUALCOMM INC COM QCOM	QCOM	184,306	$36.7m1.37%	1.37%	Reduced -10.3k	-10,271 -5.3%
16	JOHNSON & JOHNSON COM JNJ	JNJ	249,615	$36.5m1.36%	1.36%	Reduced -997	-997 -0.4%
17	WELLS FARGO CO NEW COM WFC	WFC	600,560	$35.7m1.33%	1.33%	Reduced -8.5k	-8,493 -1.4%
18	AMAZON COM INC COM AMZN	AMZN	177,643	$34.3m1.28%	1.28%	Added +1.1k	+1,083 0.6%
19	EMERSON ELEC CO COM EMR	EMR	296,912	$32.7m1.22%	1.22%	Reduced -6.6k	-6,553 -2.2%
20	INTUIT COM INTU	INTU	45,046	$29.6m1.11%	1.11%	Reduced -229	-229 -0.5%
21	ALPHABET INC CAP STK CL C GOOG	GOOG	161,049	$29.5m1.10%	1.10%	Added +480	+480 0.3%
22	ALLISON TRANSMISSION HLDGS I COM ALSN	ALSN	383,146	$29.1m1.09%	1.09%	Reduced -986	-986 -0.3%
23	STRYKER CORPORATION COM SYK	SYK	85,140	$29.0m1.08%	1.08%	Reduced -849	-849 -1.0%
24	ABBVIE INC COM ABBV	ABBV	163,143	$28.0m1.05%	1.05%	Reduced -318	-318 -0.2%
25	FASTENAL CO COM FAST	FAST	443,425	$27.9m1.04%	1.04%	Reduced -461	-461 -0.1%
26	NOVO-NORDISK A S ADR NVO	NVO	195,118	$27.9m1.04%	1.04%	Reduced -4.3k	-4,252 -2.1%
27	HP INC COM HPQ	HPQ	788,401	$27.6m1.03%	1.03%	Reduced -700	-700 -0.1%
28	AMERICAN EXPRESS CO COM AXP	AXP	115,911	$26.8m1.00%	1.00%	Reduced -1.7k	-1,666 -1.4%
29	PROCTER AND GAMBLE CO COM PG	PG	156,392	$25.8m0.96%	0.96%	Reduced -1.5k	-1,544 -1.0%
30	UNITEDHEALTH GROUP INC COM UNH	UNH	50,268	$25.6m0.96%	0.96%	Added +2.3k	+2,328 4.9%
31	CORTEVA INC COM CTVA	CTVA	467,819	$25.2m0.94%	0.94%	Added +8.0k	+8,046 1.8%
32	MCKESSON CORP COM MCK	MCK	43,007	$25.1m0.94%	0.94%	Reduced -614	-614 -1.4%
33	DUPONT DE NEMOURS INC COM DWDP	DWDP	286,611	$23.1m0.86%	0.86%	Reduced -5.5k	-5,453 -1.9%
34	ABBOTT LABS COM ABT	ABT	221,516	$23.0m0.86%	0.86%	Reduced -1.7k	-1,679 -0.8%
35	MCDONALDS CORP COM MCD	MCD	89,640	$22.8m0.85%	0.85%	Reduced -204	-204 -0.2%
36	RTX CORPORATION COM RTX	RTX	220,562	$22.1m0.83%	0.83%	Reduced -3.9k	-3,894 -1.7%
37	EDWARDS LIFESCIENCES CORP COM EW	EW	239,391	$22.1m0.83%	0.83%	Reduced -611	-611 -0.2%
38	INTEL CORP COM INTC	INTC	678,492	$21.0m0.79%	0.79%	Reduced -5.6k	-5,616 -0.8%
39	JOHNSON CTLS INTL PLC SHS JCI	JCI	310,310	$20.6m0.77%	0.77%	Added +3.0k	+2,950 1.0%
40	INTERNATIONAL FLAVORS&FRAGRA COM IFF	IFF	212,876	$20.3m0.76%	0.76%	Reduced -3.1k	-3,082 -1.4%
41	CISCO SYS INC COM CSCO	CSCO	408,624	$19.4m0.73%	0.73%	Added +7.3k	+7,297 1.8%
42	AGILENT TECHNOLOGIES INC COM A	A	146,318	$19.0m0.71%	0.71%	Reduced -5.6k	-5,600 -3.7%
43	SPDR GOLD TR GOLD SHS GLD	GLD	87,517	$18.8m0.70%	0.70%	Added +303	+303 0.3%
44	BOOKING HOLDINGS INC COM BKNG	BKNG	4,698	$18.6m0.70%	0.70%	Reduced -97	-97 -2.0%
45	SCHLUMBERGER LTD COM STK SLB	SLB	386,005	$18.2m0.68%	0.68%	Added +19.1k	+19,072 5.2%
46	META PLATFORMS INC CL A META	META	36,092	$18.2m0.68%	0.68%	Added +215	+215 0.6%
47	COLGATE PALMOLIVE CO COM CL	CL	186,952	$18.1m0.68%	0.68%	Reduced -4.8k	-4,799 -2.5%
48	PEPSICO INC COM PEP	PEP	109,704	$18.1m0.68%	0.68%	Reduced -460	-460 -0.4%
49	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	847,483	$17.9m0.67%	0.67%	Reduced -111.0k	-110,990 -11.6%
50	LABORATORY CORP AMER HLDGS COM NEW COM NEW		85,998	$17.5m0.65%	0.65%	Added +3.6k	+3,563 4.3%
51	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	405,579	$16.8m0.63%	0.63%	Reduced -15.5k	-15,549 -3.7%
52	DISNEY WALT CO COM DIS	DIS	164,218	$16.3m0.61%	0.61%	Reduced -1.3k	-1,338 -0.8%
53	NIKE INC CL B NKE	NKE	200,260	$15.1m0.56%	0.56%	Reduced -7.4k	-7,417 -3.6%
54	STARBUCKS CORP COM SBUX	SBUX	193,021	$15.0m0.56%	0.56%	Added +31.4k	+31,442 19.5%
55	CARMAX INC COM KMX	KMX	202,682	$14.9m0.56%	0.56%	Reduced -5.2k	-5,216 -2.5%
56	PFIZER INC COM PFE	PFE	519,790	$14.5m0.54%	0.54%	Added +2.9k	+2,935 0.6%
57	PARKER-HANNIFIN CORP COM PH	PH	26,691	$13.5m0.50%	0.50%	Unchanged
58	CATERPILLAR INC COM CAT	CAT	40,152	$13.4m0.50%	0.50%	Reduced -14	-14 -0.0%
59	MONDELEZ INTL INC CL A MDLZ	MDLZ	202,726	$13.3m0.50%	0.50%	Added +370	+370 0.2%
60	UNION PAC CORP COM UNP	UNP	56,611	$12.8m0.48%	0.48%	Added +164	+164 0.3%
61	HOME DEPOT INC COM HD	HD	36,378	$12.5m0.47%	0.47%	Reduced -64	-64 -0.2%
62	AMGEN INC COM AMGN	AMGN	39,683	$12.4m0.46%	0.46%	Reduced -39	-39 -0.1%
63	SYSCO CORP COM SYY	SYY	169,927	$12.1m0.45%	0.45%	Reduced -428	-428 -0.2%
64	PAYPAL HLDGS INC COM PYPL	PYPL	207,403	$12.0m0.45%	0.45%	Reduced -26.3k	-26,346 -11.3%
65	ALBEMARLE CORP COM ALB	ALB	123,436	$11.8m0.44%	0.44%	Added +9.2k	+9,182 8.0%
66	HONEYWELL INTL INC COM COM		54,943	$11.7m0.44%	0.44%	Reduced -1.6k	-1,600 -2.8%
67	ENTEGRIS INC COM ENTG	ENTG	86,235	$11.7m0.44%	0.44%	Reduced -7.9k	-7,870 -8.4%
68	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	48,571	$11.6m0.43%	0.43%	Reduced -565	-565 -1.1%
69	WALMART INC COM WMT	WMT	169,292	$11.5m0.43%	0.43%	Reduced -1.1k	-1,136 -0.7%
70	CONOCOPHILLIPS COM COP	COP	99,413	$11.4m0.43%	0.43%	Reduced -307	-307 -0.3%
71	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	82,757	$11.3m0.42%	0.42%	Reduced -3.3k	-3,300 -3.8%
72	FIRST TR EXCHANGE-TRADED FD FST LOW OPPT EFT LMBS	LMBS	233,059	$11.2m0.42%	0.42%	Reduced -23.2k	-23,250 -9.1%
73	PHILIP MORRIS INTL INC COM PM	PM	109,198	$11.1m0.41%	0.41%	Reduced -1.4k	-1,352 -1.2%
74	EBAY INC. COM EBAY	EBAY	196,808	$10.6m0.40%	0.40%	Reduced -373	-373 -0.2%
75	MERCK & CO INC COM MRK	MRK	79,937	$9.9m0.37%	0.37%	Added +438	+438 0.6%
76	VERIZON COMMUNICATIONS INC COM VZ	VZ	229,128	$9.4m0.35%	0.35%	Reduced -4.3k	-4,314 -1.9%
77	NOVARTIS AG SPONSORED ADR NVS	NVS	87,987	$9.4m0.35%	0.35%	Reduced -415	-415 -0.5%
78	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	16,859	$9.2m0.34%	0.34%	Added +53	+53 0.3%
79	BOEING CO COM BA	BA	48,168	$8.8m0.33%	0.33%	Reduced -407	-407 -0.8%
80	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	16,878	$8.4m0.32%	0.32%	Added +194	+194 1.2%
81	NORTHROP GRUMMAN CORP COM NOC	NOC	19,321	$8.4m0.32%	0.32%	Reduced -500	-500 -2.5%
82	BP PLC SPONSORED ADR BP	BP	228,155	$8.2m0.31%	0.31%	Reduced -2.4k	-2,354 -1.0%
83	ISHARES TR CORE S&P SCP ETF IJR	IJR	77,218	$8.2m0.31%	0.31%	Added +4.5k	+4,519 6.2%
84	JACOBS SOLUTIONS INC COM J	J	58,847	$8.2m0.31%	0.31%	Reduced -580	-580 -1.0%
85	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	36,127	$8.2m0.31%	0.31%	Reduced -508	-508 -1.4%
86	ILLINOIS TOOL WKS INC COM ITW	ITW	34,041	$8.1m0.30%	0.30%	Reduced -1.1k	-1,143 -3.2%
87	BANK NEW YORK MELLON CORP COM BNY	BNY	128,285	$7.7m0.29%	0.29%	Reduced -5.0k	-4,954 -3.7%
88	PUBLIC STORAGE COM PSA	PSA	26,666	$7.7m0.29%	0.29%	Unchanged
89	NVIDIA CORPORATION COM NVDA	NVDA	61,528	$7.6m0.28%	0.28%	Added +1.1k	+1,098 1.8%
90	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	43,510	$7.5m0.28%	0.28%	Reduced -256	-256 -0.6%
91	3M CO COM MMM	MMM	71,127	$7.3m0.27%	0.27%	Reduced -4.9k	-4,922 -6.5%
92	TEXAS INSTRS INC COM TXN	TXN	36,581	$7.1m0.27%	0.27%	Reduced -945	-945 -2.5%
93	CONAGRA BRANDS INC COM CAG	CAG	246,102	$7.0m0.26%	0.26%	Reduced -39.5k	-39,490 -13.8%
94	TARGET CORP COM TGT	TGT	45,950	$6.8m0.25%	0.25%	Reduced -173	-173 -0.4%
95	GOLDMAN SACHS GROUP INC COM GS	GS	14,136	$6.4m0.24%	0.24%	Reduced -28	-28 -0.2%
96	CARRIER GLOBAL CORPORATION COM CARR	CARR	96,068	$6.1m0.23%	0.23%	Reduced -894	-894 -0.9%
97	ENERGIZER HLDGS INC NEW COM ENR	ENR	203,006	$6.0m0.22%	0.22%	Unchanged
98	LOCKHEED MARTIN CORP COM LMT	LMT	12,748	$6.0m0.22%	0.22%	Reduced -504	-504 -3.8%
99	EDGEWELL PERS CARE CO COM EPC	EPC	147,137	$5.9m0.22%	0.22%	Unchanged
100	OCCIDENTAL PETE CORP COM OXY	OXY	93,260	$5.9m0.22%	0.22%	Added +740	+740 0.8%

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
EXELON CORP EXC	EXC	5,773	$216.9k5.8k shares
FRANKLIN ELEC INC FELE	FELE	2,019	$215.6k2.0k shares
KROGER CO KR	KR	3,708	$211.8k3.7k shares
FOX CORP FOXA	FOXA	6,666	$208.4k6.7k shares
TRIMBLE INC TRMB	TRMB	3,200	$206.0k3.2k shares
AMEREN CORP AEE	AEE	2,750	$203.4k2.8k shares
DTE ENERGY CO DTE	DTE	1,800	$201.9k1.8k shares