Dearborn Partners LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 26, 2024), Dearborn Partners LLC reported 255 stock positions worth $2.3 billion. Its top holding was Apple (AAPL) at 5.6% of the portfolio, followed by Microsoft (MSFT, 4.2%) and Automatic Data Processing (ADP, 2.7%). Compared with Q1 2024, it opened 12 new positions, sold out of 17, added to 97 and reduced 123. The biggest buy was a new position in Motorola Solutions (MSI) and the biggest sale Carrier Global (CARR, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001206792
- Portfolio Value
- $2.3B (Q2 2024)
- SEC Filing
- 0001104659-24-082924 ↗ filed Jul 26, 2024
Holdings Value
Holdings 255 stocks · $2.3B
| AAPL Apple Inc. | 5.60% | 614,860 | $129.5M | Reduce -1.2% |
| MSFT Microsoft Corp. | 4.20% | 217,296 | $97.1M | Add +0.5% |
| ADP Automatic Data Processing | 2.70% | 262,026 | $62.5M | Reduce -0.3% |
| QCOM Qualcomm Inc. | 2.53% | 293,937 | $58.5M | Add +6.9% |
| MCD McDonald's Corp. | 2.19% | 199,210 | $50.8M | Add +0.2% |
| ITW Illinois Tool Works | 2.12% | 207,018 | $49.1M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 2.11% | 423,121 | $48.7M | Reduce -0.1% |
| COST Costco Wholesale Corp. | 2.10% | 57,048 | $48.5M | Reduce -1.3% |
| CASY Casey's General Stores Inc. | 2.07% | 125,439 | $47.9M | Reduce -2.2% |
| HD Home Depot Inc. | 2.03% | 136,550 | $47.0M | Add +4.0% |
| WSO Watsco Inc. | 2.00% | 99,667 | $46.2M | Reduce -2.5% |
| TSCO Tractor Supply Company | 1.97% | 168,599 | $45.5M | Reduce -1.4% |
| RSG Republic Services Inc. | 1.93% | 229,380 | $44.6M | Reduce -0.5% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.70% | 151,882 | $39.4M | Reduce -12.9% |
| MA Mastercard Inc. Class A | 1.70% | 89,206 | $39.4M | Add +0.2% |
| VZ Verizon Communications Inc. | 1.66% | 933,459 | $38.5M | Add +17.1% |
| INTU Intuit Inc. | 1.66% | 58,361 | $38.4M | Add +0.5% |
| ABBV Abbvie Inc. | 1.63% | 219,817 | $37.7M | Reduce -0.9% |
| SYK Stryker Corp. | 1.63% | 110,798 | $37.7M | Add +14.1% |
| WEC WEC Energy Group Inc. | 1.57% | 464,090 | $36.4M | Add +1.8% |
| TXN Texas Instruments Inc. | 1.56% | 185,743 | $36.1M | Reduce -0.3% |
| SNA Snap-on Inc. | 1.56% | 138,144 | $36.1M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 1.56% | 290,989 | $36.0M | Reduce -0.9% |
| CTAS Cintas Corp. | 1.52% | 50,225 | $35.2M | Reduce -1.0% |
| ACN Accenture PLC Class A | 1.49% | 113,423 | $34.4M | Reduce -0.1% |
| WMT Walmart Inc. | 1.48% | 505,527 | $34.2M | Add +942.7% |
| SPGI S&P Global Inc. | 1.44% | 74,814 | $33.4M | Reduce -0.5% |
| BLK BlackRock Finance Inc. | 1.43% | 42,146 | $33.2M | Reduce -0.4% |
| BDX Becton Dickinson and Co. | 1.43% | 141,488 | $33.1M | Reduce -0.5% |
| SHW The Sherwin-Williams Co. | 1.42% | 109,900 | $32.8M | Reduce -0.5% |
| ATO Atmos Energy Corp. | 1.41% | 280,367 | $32.7M | Add +1.1% |
| MSI Motorola Solutions Inc. | 1.40% | 83,637 | $32.3M | New |
| ELV Elevance Health Inc. | 1.39% | 59,199 | $32.1M | Reduce -1.1% |
| FAST Fastenal Co. | 1.33% | 488,115 | $30.7M | Reduce -1.3% |
| ABT Abbott Laboratories | 1.31% | 290,969 | $30.2M | Reduce -0.5% |
| TMUS T-Mobile US Inc. | 1.30% | 170,726 | $30.1M | Reduce -0.8% |
| AWK American Water Works Co. Inc. | 1.28% | 229,106 | $29.6M | Reduce -1.8% |
| STE Steris PLC | 1.24% | 130,326 | $28.6M | Reduce -0.9% |
| MKC.V McCormick & Co. Inc. VTG Com | 1.19% | 386,760 | $27.4M | Reduce -0.4% |
| ZTS Zoetis Inc. | 1.17% | 155,478 | $27.0M | Add +0.2% |
| BR Broadridge Financial Solutio | 1.15% | 135,095 | $26.6M | Add +53.5% |
| NDAQ Nasdaq Inc. | 1.11% | 424,541 | $25.6M | Reduce -1.0% |
| EOG EOG Resources Inc. | 1.10% | 202,978 | $25.5M | Reduce -0.6% |
| MDLZ Mondelez International Inc. Class A | 1.09% | 386,939 | $25.3M | Reduce -1.0% |
| RS Reliance Inc. | 1.02% | 82,987 | $23.7M | Reduce -19.6% |
| EQIX Equinix Inc. | 1.01% | 30,817 | $23.3M | Reduce -2.8% |
| GILD Gilead Sciences Inc. | 0.98% | 331,079 | $22.7M | Reduce -1.0% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.97% | 135,265 | $22.5M | Reduce -1.0% |
| JPM JPMorgan Chase & Co. | 0.97% | 110,468 | $22.3M | Reduce -0.5% |
| POOL Pool Corp. | 0.89% | 67,339 | $20.7M | Reduce -1.6% |
| UPS United Parcel Service Class B | 0.76% | 128,533 | $17.6M | Add +0.3% |
| NEE Nextera Energy Inc. | 0.74% | 241,560 | $17.1M | Reduce -0.4% |
| ARES Ares Management Corp. Class A | 0.73% | 125,895 | $16.8M | Add +4.7% |
| GD General Dynamics Corp. | 0.71% | 56,892 | $16.5M | Add +0.3% |
| JNJ Johnson & Johnson | 0.69% | 109,547 | $16.0M | Reduce -1.5% |
| LIN Linde PLC | 0.59% | 31,290 | $13.7M | Add +1.1% |
| CAT Caterpillar Inc. | 0.57% | 39,485 | $13.2M | Reduce -0.9% |
| PEP Pepsico Inc. | 0.56% | 78,083 | $12.9M | Add +0.9% |
| PG The Procter & Gamble Co. | 0.49% | 68,333 | $11.3M | Add +0.8% |
| CVX Chevron Corp. | 0.45% | 67,170 | $10.5M | Reduce -0.7% |
| RPM RPM International Inc. | 0.45% | 95,600 | $10.3M | Add +0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.42% | 56,302 | $9.7M | Reduce -0.5% |
| OKE Oneok Inc. | 0.39% | 111,564 | $9.1M | Reduce -1.8% |
| UNP Union Pacific Corp. | 0.39% | 39,821 | $9.0M | Reduce -1.8% |
| APD Air Products & Chemicals Inc. | 0.34% | 30,879 | $8.0M | Reduce -73.7% |
| RTX RTX Corp. | 0.32% | 73,209 | $7.3M | Reduce -0.2% |
| NVS Novartis AG-Sponsored ADR | 0.29% | 62,315 | $6.6M | No change |
| KO The Coca-Cola Co. | 0.28% | 102,648 | $6.5M | Reduce -1.8% |
| HSY The Hershey Co. | 0.28% | 35,052 | $6.4M | Add +5.2% |
| MDT Medtronic PLC | 0.23% | 68,892 | $5.4M | Reduce -4.3% |
| KMB Kimberly-Clark Corp. | 0.22% | 37,558 | $5.2M | Reduce -0.7% |
| SBUX Starbucks Corp. | 0.22% | 66,208 | $5.2M | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 0.22% | 27,871 | $5.1M | Add +16.0% |
| O Realty Income Corp. | 0.21% | 94,049 | $5.0M | Add +18.2% |
| NVDA Nvidia Corp. | 0.19% | 35,806 | $4.4M | Add +7.3% |
| LLY Eli Lilly & Co. | 0.18% | 4,648 | $4.2M | Add +0.8% |
| CARR Carrier Global Corp. | 0.18% | 66,274 | $4.2M | Reduce -89.4% |
| AMZN Amazon.com Inc. | 0.17% | 20,082 | $3.9M | Add +7.6% |
| V Visa Inc. Class A | 0.16% | 14,122 | $3.7M | Reduce -1.0% |
| SO The Southern Co. | 0.13% | 38,401 | $3.0M | Reduce -2.0% |
| ADI Analog Devices Inc. | 0.12% | 12,347 | $2.8M | Reduce -78.8% |
| DE Deere & Co. | 0.10% | 6,090 | $2.3M | Reduce -3.7% |
| BX Blackstone Inc. | 0.09% | 16,182 | $2.0M | Reduce -3.1% |
| VRP Invesco Variable Rate Prefer | 0.09% | 82,960 | $2.0M | Reduce -4.3% |
| PREF Pri Spe Pre Sec Acti-Usd Inc. | 0.08% | 105,996 | $1.9M | Reduce -8.4% |
| VCIT Vanguard Int-Term Corporate | 0.08% | 23,052 | $1.8M | Reduce -7.3% |
| TSLX Sixth Street Specialty Lendi | 0.08% | 85,662 | $1.8M | Reduce -7.9% |
| GOOG Alphabet Inc. Class C | 0.08% | 9,897 | $1.8M | Add +1.3% |
| MAIN Main Street Capital Corp. | 0.07% | 34,231 | $1.7M | Reduce -5.3% |
| OTIS Otis Worldwide Corp. | 0.07% | 17,636 | $1.7M | Reduce -0.1% |
| AGG iShares Core U.S. Aggregate | 0.07% | 17,481 | $1.7M | Add +5.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.07% | 3,500 | $1.7M | Reduce -6.6% |
| CRAI Cra International Inc. | 0.07% | 9,615 | $1.7M | Reduce -0.6% |
| ECL Ecolab Inc. | 0.07% | 6,863 | $1.6M | Reduce -2.5% |
| SMH Vaneck Semiconductor ETF | 0.07% | 5,858 | $1.5M | Add +1.0% |
| HON Honeywell International Inc. | 0.07% | 7,072 | $1.5M | Reduce -19.3% |
| UBER Uber Technologies Inc. | 0.06% | 20,532 | $1.5M | Add +6.5% |
| KNSL Kinsale Capital Group Inc. | 0.06% | 3,835 | $1.5M | Add +92.3% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.06% | 22,939 | $1.5M | New |
| CRM Salesforce Inc. | 0.06% | 5,488 | $1.4M | No change |
Portfolio Sells Q1 2024 → Q2 2024
| CARR Carrier Global Corp. | Reduce -89.4% | 0.18% | −1.38 |
| APD Air Products & Chemicals Inc. | Reduce -73.7% | 0.34% | −0.88 |
| RS Reliance Inc. | Reduce -19.6% | 1.02% | −0.46 |
| ADI Analog Devices Inc. | Reduce -78.8% | 0.12% | −0.37 |
| FAST Fastenal Co. | Reduce -1.3% | 1.33% | −0.31 |
| POOL Pool Corp. | Reduce -1.6% | 0.89% | −0.29 |
| ITW Illinois Tool Works | Reduce -0.8% | 2.12% | −0.28 |
| SHW The Sherwin-Williams Co. | Reduce -0.5% | 1.42% | −0.23 |
| SNA Snap-on Inc. | Reduce -0.4% | 1.56% | −0.20 |
| ACN Accenture PLC Class A | Reduce -0.1% | 1.49% | −0.20 |
| TROW T Rowe Price Group Inc. | Reduce -95.3% | 0.01% | −0.20 |
| AJG Arthur J Gallagher & Co. | Reduce -12.9% | 1.70% | −0.17 |
| ABT Abbott Laboratories | Reduce -0.5% | 1.31% | −0.12 |
| EQIX Equinix Inc. | Reduce -2.8% | 1.01% | −0.12 |
| ADP Automatic Data Processing | Reduce -0.3% | 2.70% | −0.11 |
| MRK Merck & Co. Inc. | Reduce -0.9% | 1.56% | −0.11 |
| ABBV Abbvie Inc. | Reduce -0.9% | 1.63% | −0.10 |
| MKC.V McCormick & Co. Inc. VTG Com | Reduce -0.4% | 1.19% | −0.09 |
| BDX Becton Dickinson and Co. | Reduce -0.5% | 1.43% | −0.08 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.0% | 1.09% | −0.08 |
| BLK BlackRock Finance Inc. | Reduce -0.4% | 1.43% | −0.08 |
| GILD Gilead Sciences Inc. | Reduce -1.0% | 0.98% | −0.07 |
| JNJ Johnson & Johnson | Reduce -1.5% | 0.69% | −0.06 |
| CAT Caterpillar Inc. | Reduce -0.9% | 0.57% | −0.06 |
| NDAQ Nasdaq Inc. | Reduce -1.0% | 1.11% | −0.06 |
| M D C HLDGS INC | Sold out | 0.00% | −0.05 |
| JKHY Jack Henry & Associates Inc. | Reduce -1.0% | 0.97% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -0.5% | 0.42% | −0.04 |
| UNP Union Pacific Corp. | Reduce -1.8% | 0.39% | −0.04 |
| MDT Medtronic PLC | Reduce -4.3% | 0.23% | −0.03 |
| STE Steris PLC | Reduce -0.9% | 1.24% | −0.03 |
| CVS CVS Health Corp. | Reduce -23.7% | 0.03% | −0.03 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.02 |
| NKE Nike Inc. Class B | Reduce -4.4% | 0.06% | −0.02 |
| EOG EOG Resources Inc. | Reduce -0.6% | 1.10% | −0.02 |
| INTC Intel Corp. | Reduce -41.3% | 0.01% | −0.02 |
| DIS The Walt Disney Co. | Reduce -26.1% | 0.02% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.01 |
| NOC Northrop Grumman Corp. | Sold out | 0.00% | −0.01 |
| DE Deere & Co. | Reduce -3.7% | 0.10% | −0.01 |
| USB US Bancorp | Reduce -11.9% | 0.05% | −0.01 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.01 |
| HON Honeywell International Inc. | Reduce -19.3% | 0.07% | −0.01 |
| GOVT iShares US Treasury Bond ETF | Sold out | 0.00% | −0.01 |
| BCE Bce Inc. | Reduce -33.6% | 0.02% | −0.01 |
| PXD Pioneer Natural Resources Co. | Sold out | 0.00% | −0.01 |
| TDV Proshares S&P Tech DVD Arist | Sold out | 0.00% | −0.01 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.01 |
| V Visa Inc. Class A | Reduce -1.0% | 0.16% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Sold out | 0.00% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| MSI Motorola Solutions Inc. | New | 1.40% | +1.40 |
| WMT Walmart Inc. | Add +942.7% | 1.48% | +1.35 |
| QCOM Qualcomm Inc. | Add +6.9% | 2.53% | +0.53 |
| BR Broadridge Financial Solutio | Add +53.5% | 1.15% | +0.38 |
| MSFT Microsoft Corp. | Add +0.5% | 4.20% | +0.29 |
| VZ Verizon Communications Inc. | Add +17.1% | 1.66% | +0.23 |
| SYK Stryker Corp. | Add +14.1% | 1.63% | +0.14 |
| GOOGL Alphabet Inc. Class A | Add +16.0% | 0.22% | +0.06 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.06% | +0.06 |
| NVDA Nvidia Corp. | Add +7.3% | 0.19% | +0.06 |
| ARES Ares Management Corp. Class A | Add +4.7% | 0.73% | +0.04 |
| ZTS Zoetis Inc. | Add +0.2% | 1.17% | +0.04 |
| INTU Intuit Inc. | Add +0.5% | 1.66% | +0.04 |
| O Realty Income Corp. | Add +18.2% | 0.21% | +0.03 |
| LLY Eli Lilly & Co. | Add +0.8% | 0.18% | +0.03 |
| VEA Vanguard Ftse Developed ETF | New | 0.03% | +0.03 |
| GD General Dynamics Corp. | Add +0.3% | 0.71% | +0.03 |
| AMZN Amazon.com Inc. | Add +7.6% | 0.17% | +0.02 |
| ODFL Old Dominion Freight Line | New | 0.02% | +0.02 |
| BEPC Brookfield Renewable Cor-A | New | 0.02% | +0.02 |
| KNSL Kinsale Capital Group Inc. | Add +92.3% | 0.06% | +0.02 |
| PG The Procter & Gamble Co. | Add +0.8% | 0.49% | +0.02 |
| GOOG Alphabet Inc. Class C | Add +1.3% | 0.08% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.01% | +0.01 |
| CRS Carpenter Technology | New | 0.01% | +0.01 |
| ALB Albemarle Corp. | New | 0.01% | +0.01 |
| AMGN Amgen Inc. | Add +21.2% | 0.05% | +0.01 |
| FSV Firstservice Corp. | Add +49.5% | 0.04% | +0.01 |
| NFLX Netflix Inc. | Add +54.6% | 0.03% | +0.01 |
| SMH Vaneck Semiconductor ETF | Add +1.0% | 0.07% | +0.01 |
| XBI SS SPDR S&P Biotech ETF | New | 0.01% | +0.01 |
| SYY Sysco Corp. | Add +123.1% | 0.02% | +0.01 |
| LHX L3HARRIS Technologies Inc. | New | 0.01% | +0.01 |
| CAVA Cava Group Inc. | New | 0.01% | +0.01 |
| PODD Insulet Corp. | New | 0.01% | +0.01 |
| IWM iShares Russell 2000 ETF | Add +75.2% | 0.02% | +0.01 |
| AVGO Broadcom Inc. | Add +0.6% | 0.04% | +0.01 |
| IJT iShares S&P Small-Cap 600 GR | Add +55.0% | 0.02% | +0.01 |
| VWO Vanguard Ftse Emerging Marke | Add +43.8% | 0.02% | +0.01 |
| PFE Pfizer Inc. | Add +14.2% | 0.05% | +0.01 |
| MRNA Moderna Inc. | Add +43.6% | 0.01% | +0.01 |
| IJH iShares Core S&P Midcap ETF | Add +25.9% | 0.03% | +0.01 |
| XEL Xcel Energy Inc. | Add +22.2% | 0.03% | +0.01 |
| BIV Vanguard Intermediate-Term B | Add +41.8% | 0.02% | +0.00 |
| UL Unilever PLC | Add +5.5% | 0.03% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +14.8% | 0.03% | +0.00 |
| XLK SS Technology Select Sector | Add +6.0% | 0.03% | +0.00 |
| AGG iShares Core U.S. Aggregate | Add +5.7% | 0.07% | +0.00 |
| CB Chubb Ltd. | Add +26.8% | 0.02% | +0.00 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +5.9% | 0.02% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 285 | $1.8B | AAPL, MSFT, APH, CASY, TXN |
| Q1 2026 | 269 | $1.8B | AAPL, MSFT, CASY, MCD, XOM |
| Q4 2025 | 264 | $2.0B | AAPL, MSFT, MCD, ADP, CASY |
| Q3 2025 | 255 | $2.1B | AAPL, MSFT, ADP, MCD, CASY |
| Q2 2025 | 256 | $2.1B | AAPL, MSFT, ADP, MCD, RSG |
| Q1 2025 | 257 | $2.1B | AAPL, MSFT, ADP, MCD, ITW |
| Q4 2024 | 259 | $2.4B | AAPL, MSFT, ADP, MCD, HD |
| Q3 2024 | 266 | $2.5B | AAPL, MSFT, ADP, MCD, HD |
| Q2 2024 | 255 | $2.3B | AAPL, MSFT, ADP, QCOM, MCD |
| Q1 2024 | 260 | $2.3B | AAPL, MSFT, ADP, MCD, ITW |