# Goelzer Investment Management, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1550057. Source: https://holderbook.com/funds/1550057-goelzer-investment-management-inc/

- Reported value: $2.3B
- Positions: 314
- Weight of the ten largest: 53.1%
- Filed: 2026-07-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $644.7M | 537,488 | 28.1% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $205.4M | 274,215 | 8.9% | 31 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $88.7M | 1,150,363 | 3.9% | 31 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $47.4M | 1,711,363 | 2.1% | 15 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $45.0M | 119,112 | 2.0% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $44.8M | 154,703 | 2.0% | 31 |
| J P MORGAN EXCHANGE TRADED F | [JMTG](https://holderbook.com/stocks/JMTG/) | $40.9M | 807,941 | 1.8% | 5 |
| SPDR SERIES TRUST | [SLYV](https://holderbook.com/stocks/SLYV/) | $40.9M | 374,631 | 1.8% | 25 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $30.8M | 82,547 | 1.3% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $30.5M | 86,369 | 1.3% | 31 |
| NUSHARES ETF TR | [NUGO](https://holderbook.com/stocks/NUGO/) | $25.0M | 578,626 | 1.1% | 1 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $24.5M | 74,845 | 1.1% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $23.7M | 118,649 | 1.0% | 14 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $23.0M | 155,008 | 1.0% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $21.7M | 159,080 | 0.9% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $20.6M | 48,279 | 0.9% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $20.3M | 19,073 | 0.9% | 19 |
| ISHARES TR | [TLH](https://holderbook.com/stocks/TLH/) | $17.0M | 169,041 | 0.7% | 15 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $16.1M | 40,572 | 0.7% | 20 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $15.8M | 62,744 | 0.7% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $15.8M | 122,719 | 0.7% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $14.5M | 123,289 | 0.6% | 31 |
| JANUS DETROIT STR TR | [JMBS](https://holderbook.com/stocks/JMBS/) | $14.4M | 320,242 | 0.6% | 8 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $14.3M | 77,526 | 0.6% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $14.1M | 84,978 | 0.6% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $14.0M | 55,081 | 0.6% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $13.4M | 26,274 | 0.6% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $12.6M | 221,564 | 0.6% | 16 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $12.5M | 238,502 | 0.5% | 28 |
| OMEGA HEALTHCARE INVS INC | [OHI](https://holderbook.com/stocks/OHI/) | $12.1M | 254,182 | 0.5% | 31 |
| PRINCIPAL FINANCIAL GROUP IN | [PFG](https://holderbook.com/stocks/PFG/) | $12.1M | 112,394 | 0.5% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $12.1M | 36,668 | 0.5% | 31 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $11.9M | 196,550 | 0.5% | 31 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $11.3M | 236,722 | 0.5% | 22 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $11.1M | 14,827 | 0.5% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $10.7M | 56,585 | 0.5% | 25 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $10.7M | 35,384 | 0.5% | 16 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $10.6M | 44,452 | 0.5% | 31 |
| CITIZENS FINL GROUP INC | [CFG](https://holderbook.com/stocks/CFG/) | $10.5M | 149,448 | 0.5% | 31 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $10.4M | 75,863 | 0.5% | 14 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $10.3M | 30,253 | 0.4% | 29 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $9.5M | 83,861 | 0.4% | 31 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $9.5M | 124,783 | 0.4% | 31 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $9.0M | 38,444 | 0.4% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $8.9M | 25,824 | 0.4% | 31 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $8.9M | 36,530 | 0.4% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $8.8M | 161,878 | 0.4% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $8.7M | 150,829 | 0.4% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $8.7M | 104,726 | 0.4% | 30 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $8.6M | 9,146 | 0.4% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $8.5M | 30,103 | 0.4% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $8.2M | 16,439 | 0.4% | 31 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $8.1M | 40,003 | 0.4% | 8 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $8.0M | 58,230 | 0.3% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $7.8M | 185,390 | 0.3% | 31 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $7.7M | 67,075 | 0.3% | 9 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $7.6M | 40,260 | 0.3% | 2 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $7.5M | 51,364 | 0.3% | 31 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $7.4M | 28,600 | 0.3% | 16 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $7.4M | 17,688 | 0.3% | 31 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $7.2M | 10,292 | 0.3% | 31 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $7.2M | 9,572 | 0.3% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $7.2M | 47,244 | 0.3% | 30 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $7.1M | 60,578 | 0.3% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $7.1M | 12,626 | 0.3% | 25 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $6.9M | 25,476 | 0.3% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $6.9M | 84,750 | 0.3% | 12 |
| FARMERS & MERCHANTS BANCORP | [FMAO](https://holderbook.com/stocks/FMAO/) | $6.8M | 223,604 | 0.3% | 21 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $6.8M | 50,053 | 0.3% | 31 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $6.7M | 70,411 | 0.3% | 22 |
| PIMCO ETF TR | [MUNI](https://holderbook.com/stocks/MUNI/) | $6.6M | 126,159 | 0.3% | 15 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $6.6M | 15,226 | 0.3% | 5 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $6.5M | 25,488 | 0.3% | 8 |
| STANLEY BLACK & DECKER INC | [SWK](https://holderbook.com/stocks/SWK/) | $6.4M | 68,277 | 0.3% | 31 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $6.4M | 76,183 | 0.3% | 31 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $6.2M | 123,307 | 0.3% | 5 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $6.1M | 41,995 | 0.3% | 31 |
| GENTEX CORP | [GNTX](https://holderbook.com/stocks/GNTX/) | $5.9M | 231,523 | 0.3% | 31 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $5.8M | 109,441 | 0.3% | 28 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $5.8M | 53,787 | 0.3% | 31 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $5.4M | 56,100 | 0.2% | 24 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $5.4M | 18,269 | 0.2% | 31 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $5.3M | 68,242 | 0.2% | 14 |
| FIFTH THIRD BANCORP | [FITB](https://holderbook.com/stocks/FITB/) | $5.3M | 93,176 | 0.2% | 25 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $5.2M | 23,802 | 0.2% | 31 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $5.0M | 11,568 | 0.2% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $4.9M | 13,869 | 0.2% | 31 |
| HANOVER INS GROUP INC | [THG](https://holderbook.com/stocks/THG/) | $4.8M | 22,529 | 0.2% | 31 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $4.7M | 55,553 | 0.2% | 29 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $4.6M | 12,939 | 0.2% | 31 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $4.5M | 34,608 | 0.2% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $4.5M | 8,749 | 0.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $4.5M | 6 | 0.2% | 7 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $4.4M | 25,815 | 0.2% | 7 |
| ISHARES TR | [IJJ](https://holderbook.com/stocks/IJJ/) | $4.4M | 29,472 | 0.2% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $4.3M | 15,915 | 0.2% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $4.1M | 170,730 | 0.2% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $4.1M | 12,070 | 0.2% | 31 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $3.9M | 31,750 | 0.2% | 31 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $3.9M | 14,165 | 0.2% | 20 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +15.6% | +14.8% | +0.8% | 100% |
| Q1 2026 | -3.9% | -4.6% | +0.7% | 100% |
| Q4 2025 | +10.6% | +2.4% | +8.3% | 100% |
| Q3 2025 | +5.2% | +7.8% | -2.7% | 100% |
| Q2 2025 | +2.9% | +10.5% | -7.6% | 100% |
| Q1 2025 | -0.4% | -4.6% | +4.1% | 100% |
| Q4 2024 | -4.0% | +2.1% | -6.2% | 100% |
| Q3 2024 | +4.0% | +5.4% | -1.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.3B | 314 |
| Q1 2026 | $2.1B | 297 |
| Q4 2025 | $2.2B | 271 |
| Q3 2025 | $1.9B | 247 |
| Q2 2025 | $1.8B | 244 |
| Q1 2025 | $1.7B | 237 |
| Q4 2024 | $1.7B | 235 |
| Q3 2024 | $1.8B | 225 |
| Q2 2024 | $1.8B | 226 |
| Q1 2024 | $1.8B | 239 |
| Q4 2023 | $1.6B | 228 |
| Q3 2023 | $1.4B | 222 |