Johnson Investment Counsel Inc Q2 Portfolio Changes: Focus on Technology and Financial Services

Johnson Investment Counsel Inc's portfolio saw considerable shifts during the second quarter of 2026, with a focus on Technology and Financial Services sectors. The firm demonstrated active buying in several areas while strategically exiting some positions.

Prominent Purchases This Quarter

The most significant purchase activity occurred within individual stocks and exchange-traded funds (ETFs). ServiceNow Inc (NOW) experienced a remarkable increase, with holdings growing by 250.11% to represent approximately $59 million in value at quarter-end.

• ServiceNow (NOW): Holdings surged by over 250%, indicating strong confidence in this Technology stock's prospects.
• Vanguard World Fund ETF (VGT): This ETF saw its stake increase dramatically, with holdings rising more than sevenfold and now accounting for about $49 million of the portfolio.
• SCHWAB Strategic Trust ETF (SCHX): Another significant addition was SCHX, which gained over six percent in allocation during Q2.

Furthermore, Johnson Investment Counsel Inc bolstered its position in several other sectors:

• ServiceNow (NOW), a Technology stock, was added significantly with a +250.11% change.
• The firm increased its stake in Vanguard Intl Equity Index Fund (VEU) by nearly three percent during the quarter.
• Johnson Investment Counsel Inc also purchased shares of First Horizon Corporation (FHN) and American Financial Group Inc (AFG).
• Additionally, the firm invested in Chipotle Mexican Grill Inc (CMG) and Zoetis Inc (ZTS).
• There was also a notable increase in the allocation to Vanguard Intl Equity Index Fund (VEU) and VANGUARD TAX-MANAGED FDS (VEA).

Strategic Divestments During Q2

Conversely, the firm divested from several holdings during the quarter:

• MEDTRONIC PLC (MDT): This Healthcare stock saw its stake reduced by over half (-56.91%), now representing just $19 million.
• Johnson Investment Counsel Inc also sold off significant portions of other individual stocks, including Alliant Energy Corp (LNT) and American Financial Group Inc (AFG). The stake in LNT decreased by 14.87%.
• Additionally, the firm reduced its position in several ETFs: Vanguard Intl Equity Index Fund (VEU) saw a nearly seven percent reduction during Q2.

The divestment pattern aligns with broader portfolio adjustments, including:

• VANGUARD TAX-MANAGED FDS (VEA): Holdings in this ETF decreased by about 7.42% during the quarter.

Overall Portfolio Dynamics

The portfolio's structure reflects a diversified approach, with Technology being one of the largest sectors at approximately 15.31%, followed closely by Financial Services (10.43%) and Consumer Cyclical (5.88%). The remaining allocation was distributed across various other sectors.

Johnson Investment Counsel Inc's portfolio indicates a dynamic investment strategy focused on capturing performance through both core holdings like index funds (ISHARES TR (IVV), IWB) and targeted individual stock investments. The firm also utilizes tax-managed ETFs such as VEA.

For further details on Johnson Investment Counsel Inc's portfolio holdings, you can visit their profile at Johnson Investment Counsel Inc.