Dearborn Partners LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Dearborn Partners LLC reported 269 stock positions worth $1.8 billion. Its top holding was Apple (AAPL) at 5.8% of the portfolio, followed by Microsoft (MSFT, 3.8%) and Casey's General Stores (CASY, 3.1%). Compared with Q4 2025, it opened 15 new positions, sold out of 10, added to 78 and reduced 145. The biggest buy was Ecolab (ECL, shares +1307%) and the biggest sale Microsoft (MSFT, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001206792
- Portfolio Value
- $1.8B (Q1 2026)
- SEC Filing
- 0001104659-26-059082 ↗ filed May 12, 2026
Holdings Value
Holdings 269 stocks · $1.8B
| AAPL Apple Inc. | 5.80% | 422,029 | $107.1M | Reduce -6.2% |
| MSFT Microsoft Corp. | 3.82% | 190,461 | $70.5M | Reduce -4.9% |
| CASY Casey's General Stores Inc. | 3.06% | 77,759 | $56.6M | Reduce -6.5% |
| MCD McDonald's Corp. | 2.61% | 154,975 | $48.2M | Reduce -5.8% |
| XOM Exxon Mobil Corp. | 2.48% | 269,535 | $45.7M | Reduce -8.6% |
| WEC WEC Energy Group Inc. | 1.97% | 314,438 | $36.4M | Reduce -7.3% |
| ADP Automatic Data Processing | 1.93% | 175,647 | $35.7M | Reduce -5.7% |
| APH Amphenol Corp. Class A | 1.90% | 277,186 | $35.0M | Reduce -10.7% |
| ATO Atmos Energy Corp. | 1.88% | 188,269 | $34.8M | Reduce -8.6% |
| CTVA Corteva Inc. | 1.88% | 413,919 | $34.6M | Reduce -8.9% |
| RSG Republic Services Inc. | 1.85% | 156,191 | $34.2M | Reduce -8.5% |
| SNA Snap-on Inc. | 1.84% | 93,789 | $34.1M | Reduce -7.3% |
| VZ Verizon Communications Inc. | 1.82% | 669,518 | $33.6M | Reduce -6.9% |
| WSO Watsco Inc. | 1.76% | 89,590 | $32.6M | Reduce -5.4% |
| MA Mastercard Inc. Class A | 1.75% | 64,596 | $32.3M | Reduce -6.5% |
| WMT Walmart Inc. | 1.74% | 258,281 | $32.1M | Reduce -9.3% |
| COST Costco Wholesale Corp. | 1.73% | 32,064 | $31.9M | Reduce -8.0% |
| ITW Illinois Tool Works | 1.62% | 114,961 | $29.9M | Reduce -19.5% |
| CME Cme Group Inc. | 1.61% | 100,440 | $29.7M | Add +6.2% |
| TXN Texas Instruments Inc. | 1.57% | 149,485 | $29.0M | Reduce -5.6% |
| SHW The Sherwin-Williams Co. | 1.52% | 87,391 | $28.0M | Reduce -6.0% |
| ABBV Abbvie Inc. | 1.51% | 128,402 | $27.9M | Reduce -9.5% |
| PG The Procter & Gamble Co. | 1.51% | 192,745 | $27.8M | Reduce -4.7% |
| QCOM Qualcomm Inc. | 1.48% | 211,684 | $27.3M | Reduce -7.1% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.48% | 125,858 | $27.3M | Reduce -6.0% |
| ACN Accenture PLC Class A | 1.36% | 126,620 | $25.1M | Add +8.4% |
| MSI Motorola Solutions Inc. | 1.35% | 57,593 | $25.0M | Reduce -8.5% |
| JPM JPMorgan Chase & Co. | 1.32% | 83,156 | $24.5M | Reduce -0.9% |
| SYK Stryker Corp. | 1.31% | 73,889 | $24.3M | Reduce -8.7% |
| NDAQ Nasdaq Inc. | 1.31% | 284,092 | $24.1M | Reduce -8.7% |
| STE Steris PLC | 1.27% | 105,783 | $23.4M | Reduce -7.4% |
| TSCO Tractor Supply Company | 1.25% | 511,499 | $23.2M | Reduce -7.4% |
| HD Home Depot Inc. | 1.24% | 69,668 | $22.9M | Reduce -7.9% |
| TMUS T-Mobile US Inc. | 1.24% | 108,648 | $22.8M | Reduce -8.1% |
| ABT Abbott Laboratories | 1.21% | 217,223 | $22.3M | Reduce -7.9% |
| VRSK Verisk Analytics Inc. | 1.18% | 115,066 | $21.8M | Add +30.1% |
| SPGI S&P Global Inc. | 1.17% | 51,021 | $21.7M | Reduce -7.7% |
| ECL Ecolab Inc. | 1.14% | 79,207 | $21.1M | Add +1307.4% |
| NEE Nextera Energy Inc. | 1.14% | 226,440 | $21.0M | Reduce -0.4% |
| CTAS Cintas Corp. | 1.13% | 123,111 | $20.8M | Reduce -8.4% |
| TRI Thomson Reuters Corp. | 1.10% | 226,158 | $20.3M | Add +16.6% |
| CAT Caterpillar Inc. | 1.10% | 28,643 | $20.3M | Reduce -0.1% |
| EQIX Equinix Inc. | 1.08% | 20,392 | $20.0M | Reduce -10.0% |
| JNJ Johnson & Johnson | 1.06% | 79,864 | $19.5M | Reduce -1.3% |
| MKC.V McCormick & Co. Inc. VTG Com | 0.99% | 362,547 | $18.3M | Reduce -7.1% |
| INTU Intuit Inc. | 0.98% | 41,692 | $18.0M | Reduce -8.3% |
| FAST Fastenal Co. | 0.95% | 377,076 | $17.5M | Reduce -30.4% |
| AWK American Water Works Co. Inc. | 0.93% | 126,235 | $17.2M | Reduce -11.2% |
| EOG EOG Resources Inc. | 0.89% | 114,192 | $16.5M | Reduce -10.4% |
| GD General Dynamics Corp. | 0.83% | 44,418 | $15.2M | Reduce -1.6% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.79% | 92,081 | $14.6M | Reduce -10.3% |
| GOOGL Alphabet Inc. Class A | 0.73% | 46,963 | $13.5M | Reduce -1.3% |
| MDLZ Mondelez International Inc. Class A | 0.73% | 233,670 | $13.5M | Reduce -8.4% |
| BR Broadridge Financial Solutio | 0.72% | 82,060 | $13.3M | Reduce -11.0% |
| ZTS Zoetis Inc. | 0.68% | 106,920 | $12.6M | Reduce -4.7% |
| ARES Ares Management Corp. Class A | 0.60% | 101,744 | $11.1M | Reduce -5.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.60% | 45,567 | $11.0M | Reduce -6.5% |
| GILD Gilead Sciences Inc. | 0.53% | 69,875 | $9.7M | Reduce -3.7% |
| RPM RPM International Inc. | 0.50% | 93,383 | $9.3M | Reduce -0.8% |
| UNP Union Pacific Corp. | 0.49% | 37,096 | $9.0M | Reduce -0.0% |
| PEP Pepsico Inc. | 0.44% | 51,903 | $8.1M | Reduce -1.2% |
| NVDA Nvidia Corp. | 0.43% | 45,375 | $7.9M | Add +9.9% |
| OKE Oneok Inc. | 0.43% | 86,960 | $7.9M | Reduce -3.1% |
| RS Reliance Inc. | 0.40% | 24,175 | $7.3M | Reduce -29.7% |
| CVX Chevron Corp. | 0.37% | 32,951 | $6.8M | Reduce -1.5% |
| APD Air Products & Chemicals Inc. | 0.33% | 21,242 | $6.2M | Reduce -5.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.32% | 76,262 | $5.8M | Add +27.1% |
| RTX RTX Corp. | 0.31% | 29,502 | $5.7M | Reduce -0.3% |
| NVS Novartis AG-Sponsored ADR | 0.29% | 35,208 | $5.4M | Reduce -0.1% |
| LIN Linde PLC | 0.27% | 9,917 | $4.9M | Reduce -4.2% |
| O Realty Income Corp. | 0.25% | 75,806 | $4.6M | Reduce -4.4% |
| MDT Medtronic PLC | 0.24% | 50,691 | $4.4M | Reduce -4.8% |
| MRK Merck & Co. Inc. | 0.23% | 35,043 | $4.2M | Reduce -84.1% |
| AMZN Amazon.com Inc. | 0.23% | 20,116 | $4.2M | Reduce -2.5% |
| LLY Eli Lilly & Co. | 0.22% | 4,511 | $4.1M | Add +4.8% |
| V Visa Inc. Class A | 0.22% | 13,393 | $4.0M | Add +0.5% |
| AVGO Broadcom Inc. | 0.21% | 12,479 | $3.9M | Add +0.1% |
| KO The Coca-Cola Co. | 0.20% | 48,518 | $3.7M | Reduce -1.4% |
| SBUX Starbucks Corp. | 0.18% | 37,661 | $3.4M | Reduce -3.2% |
| VEA Vanguard Ftse Developed ETF | 0.17% | 47,647 | $3.1M | Add +33.7% |
| AGG iShares Core U.S. Aggregate | 0.16% | 29,070 | $2.9M | Reduce -2.7% |
| DE Deere & Co. | 0.15% | 4,915 | $2.8M | Reduce -6.8% |
| HSY The Hershey Co. | 0.14% | 12,569 | $2.6M | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 0.13% | 8,132 | $2.3M | Reduce -1.2% |
| CARR Carrier Global Corp. | 0.12% | 38,433 | $2.2M | No change |
| VCLT Vanguard Long-Term Corp. Bond | 0.10% | 25,865 | $1.9M | Add +0.5% |
| SMH Vaneck Semiconductor ETF | 0.10% | 5,034 | $1.9M | No change |
| BLK BlackRock Finance Inc. | 0.10% | 1,983 | $1.9M | Reduce -23.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.10% | 3,213 | $1.9M | Add +2.3% |
| VRP Invesco Variable Rate Prefer | 0.09% | 69,020 | $1.7M | Reduce -3.3% |
| VBTLX Vanguard TTL BD MKT Idx-Adm | 0.09% | 22,386 | $1.6M | Reduce -3.3% |
| IJH iShares Core S&P Midcap ETF | 0.09% | 24,292 | $1.6M | Add +24.7% |
| SO The Southern Co. | 0.09% | 16,881 | $1.6M | Reduce -0.5% |
| PREF Pri Spe Pre Sec Acti-Usd Inc. | 0.09% | 84,715 | $1.6M | Reduce -3.3% |
| ROP Roper Technologies Inc. | 0.09% | 4,440 | $1.6M | Add +291.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.08% | 2,388 | $1.6M | Reduce -63.6% |
| XLC SS Comm Select Sector SPDR | 0.08% | 13,939 | $1.5M | No change |
| MAIN Main Street Capital Corp. | 0.08% | 28,832 | $1.5M | Reduce -1.8% |
| GLD SPDR Gold Shares | 0.08% | 3,442 | $1.5M | Add +0.1% |
| MORN Morningstar Inc. | 0.08% | 8,680 | $1.5M | Reduce -0.9% |
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -4.9% | 3.82% | −1.02 |
| MRK Merck & Co. Inc. | Reduce -84.1% | 0.23% | −0.93 |
| INTU Intuit Inc. | Reduce -8.3% | 0.98% | −0.53 |
| QCOM Qualcomm Inc. | Reduce -7.1% | 1.48% | −0.47 |
| ADP Automatic Data Processing | Reduce -5.7% | 1.93% | −0.46 |
| MKC.V McCormick & Co. Inc. VTG Com | Reduce -7.1% | 0.99% | −0.34 |
| AAPL Apple Inc. | Reduce -6.2% | 5.80% | −0.31 |
| BR Broadridge Financial Solutio | Reduce -11.0% | 0.72% | −0.31 |
| ARES Ares Management Corp. Class A | Reduce -5.6% | 0.60% | −0.27 |
| ABT Abbott Laboratories | Reduce -7.9% | 1.21% | −0.27 |
| SPGI S&P Global Inc. | Reduce -7.7% | 1.17% | −0.27 |
| AJG Arthur J Gallagher & Co. | Reduce -6.0% | 1.48% | −0.26 |
| MA Mastercard Inc. Class A | Reduce -6.5% | 1.75% | −0.22 |
| NDAQ Nasdaq Inc. | Reduce -8.7% | 1.31% | −0.20 |
| APH Amphenol Corp. Class A | Reduce -10.7% | 1.90% | −0.20 |
| STE Steris PLC | Reduce -7.4% | 1.27% | −0.18 |
| JKHY Jack Henry & Associates Inc. | Reduce -10.3% | 0.79% | −0.15 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -63.6% | 0.08% | −0.14 |
| FAST Fastenal Co. | Reduce -30.4% | 0.95% | −0.14 |
| ITW Illinois Tool Works | Reduce -19.5% | 1.62% | −0.14 |
| CTAS Cintas Corp. | Reduce -8.4% | 1.13% | −0.13 |
| TSCO Tractor Supply Company | Reduce -7.4% | 1.25% | −0.13 |
| IBM Intl Business Machines Corp. | Reduce -6.5% | 0.60% | −0.12 |
| ABBV Abbvie Inc. | Reduce -9.5% | 1.51% | −0.11 |
| SYK Stryker Corp. | Reduce -8.7% | 1.31% | −0.11 |
| KMB Kimberly-Clark Corp. | Reduce -76.4% | 0.03% | −0.10 |
| RS Reliance Inc. | Reduce -29.7% | 0.40% | −0.10 |
| NOBL Proshares S&P 500 Dividend A | Sold out | 0.00% | −0.06 |
| HD Home Depot Inc. | Reduce -7.9% | 1.24% | −0.06 |
| BLK BlackRock Finance Inc. | Reduce -23.3% | 0.10% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -0.9% | 1.32% | −0.03 |
| BX Blackstone Inc. | Reduce -10.1% | 0.07% | −0.02 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.02 |
| ZTS Zoetis Inc. | Reduce -4.7% | 0.68% | −0.02 |
| UL Unilever PLC-Sponsored ADR | Reduce -42.9% | 0.02% | −0.02 |
| CRM Salesforce Inc. | Reduce -8.1% | 0.04% | −0.02 |
| MDT Medtronic PLC | Reduce -4.8% | 0.24% | −0.02 |
| KNSL Kinsale Capital Group Inc. | Reduce -42.9% | 0.02% | −0.02 |
| MORN Morningstar Inc. | Reduce -0.9% | 0.08% | −0.02 |
| ADI Analog Devices Inc. | Reduce -36.3% | 0.07% | −0.02 |
| PAYX Paychex Inc. | Reduce -22.3% | 0.03% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -29.6% | 0.05% | −0.02 |
| CRAI Cra International Inc. | Reduce -35.3% | 0.02% | −0.01 |
| CTSH Cognizant Tech Solutions-A | Reduce -26.3% | 0.02% | −0.01 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.01 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.01 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -1.3% | 0.73% | −0.01 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.01 |
| UBER Uber Technologies Inc. | Reduce -16.3% | 0.05% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| ECL Ecolab Inc. | Add +1307.4% | 1.14% | +1.07 |
| CME Cme Group Inc. | Add +6.2% | 1.61% | +0.32 |
| VRSK Verisk Analytics Inc. | Add +30.1% | 1.18% | +0.19 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +27.1% | 0.32% | +0.08 |
| ROP Roper Technologies Inc. | Add +291.2% | 0.09% | +0.06 |
| VEA Vanguard Ftse Developed ETF | Add +33.7% | 0.17% | +0.05 |
| NVDA Nvidia Corp. | Add +9.9% | 0.43% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +76.9% | 0.07% | +0.03 |
| GUNR NT Mstar GLBL NR ETF | New | 0.03% | +0.03 |
| DOW Dow Inc. | Add +14.1% | 0.05% | +0.03 |
| LYB Lyondellbasell Indu Class A | Add +31.5% | 0.04% | +0.03 |
| DUK Duke Energy Corp. | Add +43.9% | 0.06% | +0.03 |
| WDC Western Digital Corp. | Add +27.9% | 0.05% | +0.03 |
| IJH iShares Core S&P Midcap ETF | Add +24.7% | 0.09% | +0.02 |
| JIRE JPMorgan Int Res Enh Eqty | Add +51.4% | 0.06% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | New | 0.02% | +0.02 |
| SCHA Schwab US Small-Cap ETF | Add +26.7% | 0.06% | +0.02 |
| PFE Pfizer Inc. | Add +7.2% | 0.08% | +0.02 |
| VIXY Proshares Vix Short-Term Fut | New | 0.02% | +0.02 |
| EMN Eastman Chemical Co. | New | 0.02% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +28.5% | 0.05% | +0.02 |
| VWO Vanguard Ftse Emerging Marke | Add +50.2% | 0.04% | +0.02 |
| MZTI The Marzetti Company | Add +72.1% | 0.04% | +0.01 |
| AMLP Alerian MLP ETF | Add +8.8% | 0.06% | +0.01 |
| NOW ServiceNow Inc. | Add +101.3% | 0.04% | +0.01 |
| T AT&T Inc. | Add +11.3% | 0.05% | +0.01 |
| IBCA iShares Ibonds Dec 2035 TC | Add +70.3% | 0.03% | +0.01 |
| Intel Corp | New | 0.01% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.1% | 0.05% | +0.01 |
| EPD Enterprise Products Partners | Add +19.5% | 0.03% | +0.01 |
| GLD SPDR Gold Shares | Add +0.1% | 0.08% | +0.01 |
| VAW Vanguard Materials ETF | New | 0.01% | +0.01 |
| SCHD Schwab US DVD Equity ETF | New | 0.01% | +0.01 |
| SOLS Solstice Adv Materials Inc. | New | 0.01% | +0.01 |
| ARCC Ares Capital Corp. | New | 0.01% | +0.01 |
| KMI Kinder Morgan Inc. | New | 0.01% | +0.01 |
| HWM Howmet Aerospace Inc. | New | 0.01% | +0.01 |
| FSS Federal Signal Corp. | New | 0.01% | +0.01 |
| DVY iShares Select Dividend ETF | Add +14.9% | 0.04% | +0.01 |
| EWA iShares MSCI Australia ETF | New | 0.01% | +0.01 |
| BY Byline Bancorp Inc. | New | 0.01% | +0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.01% | +0.01 |
| IDV iShares International Select | Add +12.4% | 0.04% | +0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +48.0% | 0.03% | +0.01 |
| SCHG Schwab US Large-Cap Growth | Add +80.6% | 0.02% | +0.01 |
| VYM Vanguard High DVD Yield ETF | Add +33.3% | 0.03% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.4% | 0.05% | +0.01 |
| ODFL Old Dominion Freight Line | Add +5.9% | 0.03% | +0.01 |
| VCLT Vanguard Long-Term Corp. Bond | Add +0.5% | 0.10% | +0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +41.5% | 0.03% | +0.01 |
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 |