Goelzer Investment Management, Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 15, 2026), Goelzer Investment Management, Inc. reported 314 stock positions worth $2.3 billion. Its top holding was Eli Lilly (LLY) at 28.1% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 8.9%) and iShares Core S&P Midcap ETF (IJH, 3.9%). Compared with Q1 2026, it opened 31 new positions, sold out of 17, added to 44 and reduced 201. The biggest buy was a new position in Nuveen Growth Opportunities (NUGO) and the biggest sale SS SPDR S&P 600 SC Val ETF (SLYV, shares −53%).
- Most Recent 13F
- Q2 2026
- Location
- CARMEL, IN
- CIK
- 0001550057
- Portfolio Value
- $2.3B (Q2 2026)
- SEC Filing
- 0001550057-26-000003 ↗ filed Jul 15, 2026
Holdings Value
Holdings 314 stocks · $2.3B
| LLY Eli Lilly & Co. | 28.10% | 537,488 | $644.7M | Reduce -0.5% |
| IVV iShares Core S&P 500 ETF | 8.95% | 274,215 | $205.4M | Reduce -1.9% |
| IJH iShares Core S&P Midcap ETF | 3.87% | 1,150,363 | $88.7M | Reduce -0.2% |
| SCHF Schwab Intl Equity ETF | 2.07% | 1,711,363 | $47.4M | Reduce -5.6% |
| AVGO Broadcom Inc. | 1.96% | 119,112 | $45.0M | Add +8.2% |
| AAPL Apple Inc. | 1.95% | 154,703 | $44.8M | Reduce -4.5% |
| JMTG Mortgage-Backed Securities filed as J P MORGAN EXCHANGE TRADED F | 1.78% | 807,941 | $40.9M | Reduce -1.4% |
| SLYV SS SPDR S&P 600 SC Val ETF | 1.78% | 374,631 | $40.9M | Reduce -52.6% |
| MSFT Microsoft Corp. | 1.34% | 82,547 | $30.8M | Reduce -4.3% |
| GOOG Alphabet Inc. Class C | 1.33% | 86,369 | $30.5M | Reduce -4.6% |
| NUGO Nuveen Growth Opportunities | 1.09% | 578,626 | $25.0M | New |
| JPM JPMorgan Chase & Co. | 1.07% | 74,845 | $24.5M | Add +9.7% |
| NVDA Nvidia Corp. | 1.03% | 118,649 | $23.7M | Reduce -4.1% |
| IJR iShares Core S&P Small-Cap E | 1.00% | 155,008 | $23.0M | Reduce -3.7% |
| XOM Exxon Mobil Corp. | 0.95% | 159,080 | $21.7M | Reduce -2.8% |
| ETN Eaton Corp. PLC | 0.90% | 48,279 | $20.6M | Reduce -3.1% |
| CAT Caterpillar Inc. | 0.89% | 19,073 | $20.3M | Reduce -5.7% |
| TLH iShares 10-20 Year Treasury | 0.74% | 169,041 | $17.0M | Reduce -3.8% |
| ADI Analog Devices Inc. | 0.70% | 40,572 | $16.1M | Reduce -3.1% |
| ABBV Abbvie Inc. | 0.69% | 62,744 | $15.8M | Reduce -3.6% |
| MRK Merck & Co. Inc. | 0.69% | 122,719 | $15.8M | Reduce -3.4% |
| CSCO Cisco Systems Inc. | 0.63% | 123,289 | $14.5M | Reduce -3.9% |
| JMBS Janus Henderson Mortg Backed | 0.63% | 320,242 | $14.4M | Reduce -3.8% |
| QCOM Qualcomm Inc. | 0.62% | 77,526 | $14.3M | Reduce -3.9% |
| CVX Chevron Corp. | 0.61% | 84,978 | $14.1M | Reduce -4.5% |
| JNJ Johnson & Johnson | 0.61% | 55,081 | $14.0M | Reduce -3.0% |
| LMT Lockheed Martin Corp. | 0.58% | 26,274 | $13.4M | Reduce -2.2% |
| BAC Bank of America Corp. | 0.55% | 221,564 | $12.6M | Reduce -6.2% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.54% | 238,502 | $12.5M | Reduce -6.0% |
| OHI Omega Healthcare Investors | 0.53% | 254,182 | $12.1M | Reduce -25.8% |
| PFG Principal Financial Group | 0.53% | 112,394 | $12.1M | Reduce -3.8% |
| TRV The Travelers Cos Inc. | 0.53% | 36,668 | $12.1M | Reduce -3.6% |
| USB US Bancorp | 0.52% | 196,550 | $11.9M | Reduce -4.2% |
| NI Nisource Inc. | 0.49% | 236,722 | $11.3M | Reduce -3.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.48% | 14,827 | $11.1M | Reduce -5.4% |
| RTX RTX Corp. | 0.47% | 56,585 | $10.7M | Add +18.5% |
| KLAC KLA Corp. | 0.47% | 35,384 | $10.7M | Reduce -9.6% |
| AMZN Amazon.com Inc. | 0.46% | 44,452 | $10.6M | Reduce -17.5% |
| CFG Citizens Financial Group | 0.46% | 149,448 | $10.5M | Reduce -2.9% |
| AEP American Electric Power | 0.45% | 75,863 | $10.4M | Reduce -3.0% |
| PANW Palo Alto Networks Inc. | 0.45% | 30,253 | $10.3M | Reduce -5.5% |
| WMT Walmart Inc. | 0.41% | 83,861 | $9.5M | Reduce -19.6% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.41% | 124,783 | $9.5M | Reduce -1.9% |
| WSM Williams-Sonoma Inc. | 0.39% | 38,444 | $9.0M | Reduce -2.9% |
| V Visa Inc. Class A | 0.39% | 25,824 | $8.9M | Reduce -4.8% |
| IWD iShares Russell 1000 Value E | 0.39% | 36,530 | $8.9M | Reduce -27.5% |
| ENB Enbridge Inc. | 0.38% | 161,878 | $8.8M | Reduce -4.3% |
| BMY Bristol-Myers Squibb Co. | 0.38% | 150,829 | $8.7M | Reduce -3.7% |
| WFC Wells Fargo & Co. | 0.38% | 104,726 | $8.7M | Reduce -4.4% |
| COST Costco Wholesale Corp. | 0.37% | 9,146 | $8.6M | Reduce -4.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 30,103 | $8.5M | Reduce -0.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 16,439 | $8.2M | Reduce -0.5% |
| TEL Te Connectivity PLC | 0.35% | 40,003 | $8.1M | Reduce -2.6% |
| IVW iShares S&P 500 Growth ETF | 0.35% | 58,230 | $8.0M | Reduce -0.8% |
| VZ Verizon Communications Inc. | 0.34% | 185,390 | $7.8M | Reduce -2.7% |
| ETR Entergy Corp. | 0.34% | 67,075 | $7.7M | Reduce -3.0% |
| AZN Astrazeneca PLC | 0.33% | 40,260 | $7.6M | Reduce -3.4% |
| PG The Procter & Gamble Co. | 0.33% | 51,364 | $7.5M | Reduce -5.8% |
| VLO Valero Energy Corp. | 0.32% | 28,600 | $7.4M | Reduce -2.3% |
| UNH Unitedhealth Group Inc. | 0.32% | 17,688 | $7.4M | Reduce -4.6% |
| MDY State Street SPDR S&P Midcap | 0.32% | 10,292 | $7.2M | Reduce -5.3% |
| MCK McKesson Corp. | 0.32% | 9,572 | $7.2M | Reduce -5.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.31% | 47,244 | $7.2M | Reduce -2.6% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.31% | 60,578 | $7.1M | Reduce -10.0% |
| META Meta Platforms Inc. Class A | 0.31% | 12,626 | $7.1M | Reduce -2.6% |
| UNP Union Pacific Corp. | 0.30% | 25,476 | $6.9M | Reduce -4.3% |
| KO The Coca-Cola Co. | 0.30% | 84,750 | $6.9M | Reduce -3.1% |
| FMAO Farmers & Merchants Banco | 0.30% | 223,604 | $6.8M | Reduce -31.9% |
| PEP Pepsico Inc. | 0.30% | 50,053 | $6.8M | Reduce -3.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.29% | 70,411 | $6.7M | Reduce -3.3% |
| MUNI PIMCO Intermediate Municipal | 0.29% | 126,159 | $6.6M | Reduce -10.9% |
| LRCX Lam Research Corp. | 0.29% | 15,226 | $6.6M | Reduce -4.6% |
| GLW Corning Inc. | 0.28% | 25,488 | $6.5M | Reduce -22.8% |
| SWK Stanley Black & Decker Inc. | 0.28% | 68,277 | $6.4M | Reduce -4.2% |
| SYY Sysco Corp. | 0.28% | 76,183 | $6.4M | Reduce -1.7% |
| JAAA Janus Henderson Aaa Clo ETF | 0.27% | 123,307 | $6.2M | Add +9.5% |
| JCI Johnson Controls Internation | 0.27% | 41,995 | $6.1M | Reduce -6.3% |
| GNTX Gentex Corp. | 0.26% | 231,523 | $5.9M | Reduce -3.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.25% | 109,441 | $5.8M | Reduce -6.7% |
| PRU Prudential Financial Inc. | 0.25% | 53,787 | $5.8M | Reduce -3.7% |
| SO The Southern Co. | 0.23% | 56,100 | $5.4M | Reduce -3.1% |
| APD Air Products & Chemicals Inc. | 0.23% | 18,269 | $5.4M | Reduce -4.3% |
| MDT Medtronic PLC | 0.23% | 68,242 | $5.3M | Reduce -5.7% |
| FITB Fifth Third Bancorp | 0.23% | 93,176 | $5.3M | Reduce -9.2% |
| LOW Lowe's Cos Inc. | 0.23% | 23,802 | $5.2M | Reduce -6.2% |
| DELL Dell Technologies -C | 0.22% | 11,568 | $5.0M | Reduce -4.0% |
| HD Home Depot Inc. | 0.21% | 13,869 | $4.9M | Reduce -9.1% |
| THG Hanover Insurance Group Inc./ | 0.21% | 22,529 | $4.8M | Reduce -3.2% |
| CTVA Corteva Inc. | 0.20% | 55,553 | $4.7M | Reduce -6.7% |
| GOOGL Alphabet Inc. Class A | 0.20% | 12,939 | $4.6M | Reduce -3.9% |
| TGT Target Corp. | 0.20% | 34,608 | $4.5M | Reduce -4.6% |
| MA Mastercard Inc. Class A | 0.20% | 8,749 | $4.5M | Reduce -4.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.20% | 6 | $4.5M | No change |
| ANET Arista Networks Inc. | 0.19% | 25,815 | $4.4M | Reduce -35.8% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.19% | 29,472 | $4.4M | Reduce -5.3% |
| MCD McDonald's Corp. | 0.19% | 15,915 | $4.3M | Reduce -4.0% |
| PFE Pfizer Inc. | 0.18% | 170,730 | $4.1M | Reduce -5.7% |
| AXP American Express Co. | 0.18% | 12,070 | $4.1M | Reduce -8.8% |
| IWF iShares Russell 1000 Growth | 0.17% | 31,750 | $3.9M | No change |
| CI The Cigna Group | 0.17% | 14,165 | $3.9M | Reduce -6.1% |
Portfolio Sells Q1 2026 → Q2 2026
| SLYV SS SPDR S&P 600 SC Val ETF | Reduce -52.6% | 1.78% | −1.84 |
| XOM Exxon Mobil Corp. | Reduce -2.8% | 0.95% | −0.39 |
| CVX Chevron Corp. | Reduce -4.5% | 0.61% | −0.28 |
| JMTG Mortgage-Backed Securities | Reduce -1.4% | 1.78% | −0.24 |
| MBX MBX Biosciences Inc. | Reduce -97.6% | 0.01% | −0.23 |
| WMT Walmart Inc. | Reduce -19.6% | 0.41% | −0.21 |
| MSFT Microsoft Corp. | Reduce -4.3% | 1.34% | −0.20 |
| LMT Lockheed Martin Corp. | Reduce -2.2% | 0.58% | −0.20 |
| OHI Omega Healthcare Investors | Reduce -25.8% | 0.53% | −0.20 |
| TROW T Rowe Price Group Inc. | Reduce -87.5% | 0.03% | −0.19 |
| GATX Gatx Corp. | Reduce -78.3% | 0.04% | −0.17 |
| HON Honeywell International Inc. | Reduce -5.4% | 0.12% | −0.16 |
| OMC Omnicom Group | Reduce -55.1% | 0.10% | −0.15 |
| IWD iShares Russell 1000 Value E | Reduce -27.5% | 0.39% | −0.13 |
| VZ Verizon Communications Inc. | Reduce -2.7% | 0.34% | −0.12 |
| BKNG Booking Holdings Inc. | Reduce -45.9% | 0.13% | −0.12 |
| TLH iShares 10-20 Year Treasury | Reduce -3.8% | 0.74% | −0.12 |
| FMAO Farmers & Merchants Banco | Reduce -31.9% | 0.30% | −0.11 |
| MCK McKesson Corp. | Reduce -5.3% | 0.32% | −0.11 |
| SCHF Schwab Intl Equity ETF | Reduce -5.6% | 2.07% | −0.10 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -6.0% | 0.54% | −0.10 |
| JMBS Janus Henderson Mortg Backed | Reduce -3.8% | 0.63% | −0.10 |
| PEP Pepsico Inc. | Reduce -3.5% | 0.30% | −0.09 |
| COST Costco Wholesale Corp. | Reduce -4.5% | 0.37% | −0.09 |
| AMZN Amazon.com Inc. | Reduce -17.5% | 0.46% | −0.08 |
| BMY Bristol-Myers Squibb Co. | Reduce -3.7% | 0.38% | −0.08 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.07 |
| MDT Medtronic PLC | Reduce -5.7% | 0.23% | −0.07 |
| MUNI PIMCO Intermediate Municipal | Reduce -10.9% | 0.29% | −0.07 |
| PFE Pfizer Inc. | Reduce -5.7% | 0.18% | −0.07 |
| AZN Astrazeneca PLC | Reduce -3.4% | 0.33% | −0.06 |
| INGR Ingredion Inc. | Reduce -4.7% | 0.17% | −0.06 |
| NI Nisource Inc. | Reduce -3.6% | 0.49% | −0.06 |
| TEL Te Connectivity PLC | Reduce -2.6% | 0.35% | −0.06 |
| TJX TJX Companies Inc. | Reduce -2.6% | 0.31% | −0.06 |
| JNJ Johnson & Johnson | Reduce -3.0% | 0.61% | −0.06 |
| MCD McDonald's Corp. | Reduce -4.0% | 0.19% | −0.06 |
| LOW Lowe's Cos Inc. | Reduce -6.2% | 0.23% | −0.06 |
| ENB Enbridge Inc. | Reduce -4.3% | 0.38% | −0.06 |
| TMUS T-Mobile US Inc. | Reduce -7.5% | 0.11% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -5.8% | 0.33% | −0.05 |
| ACN Accenture PLC Class A | Reduce -10.5% | 0.05% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -3.4% | 0.69% | −0.05 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.05 |
| META Meta Platforms Inc. Class A | Reduce -2.6% | 0.31% | −0.05 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -6.7% | 0.25% | −0.05 |
| ANET Arista Networks Inc. | Reduce -35.8% | 0.19% | −0.05 |
| WFC Wells Fargo & Co. | Reduce -4.4% | 0.38% | −0.04 |
| AEP American Electric Power | Reduce -3.0% | 0.45% | −0.04 |
| EOG EOG Resources Inc. | Reduce -7.1% | 0.13% | −0.04 |
Portfolio Buys Q1 2026 → Q2 2026
| NUGO Nuveen Growth Opportunities | New | 1.09% | +1.09 |
| AVGO Broadcom Inc. | Add +8.2% | 1.96% | +0.31 |
| PM Philip Morris International | Add +532.0% | 0.16% | +0.13 |
| BKR Baker Hughes Co. | New | 0.13% | +0.13 |
| JPM JPMorgan Chase & Co. | Add +9.7% | 1.07% | +0.10 |
| DXCM Dexcom Inc. | New | 0.07% | +0.07 |
| BWA Borgwarner Inc. | Add +317.6% | 0.09% | +0.07 |
| EBAY eBay Inc. | New | 0.07% | +0.07 |
| EME Emcor Group Inc. | New | 0.05% | +0.05 |
| DVN Devon Energy Corp. | New | 0.05% | +0.05 |
| MU Micron Technology Inc. | New | 0.05% | +0.05 |
| AMD Advanced Micro Devices | Add +8.3% | 0.06% | +0.04 |
| INTC Intel Corp. | New | 0.02% | +0.02 |
| RTX RTX Corp. | Add +18.5% | 0.47% | +0.02 |
| NUW Nuveen Amt-Free Muni Val | New | 0.02% | +0.02 |
| XNTK SS SPDR Nyse Tech ETF | New | 0.02% | +0.02 |
| DFAI Dimensional International Co. | New | 0.02% | +0.02 |
| JSI JH Securitized Income ETF | New | 0.02% | +0.02 |
| JMST JPM Ultra-Short Muni Income | Add +40.5% | 0.09% | +0.02 |
| XLK SS Technology Select Sector | Add +4.3% | 0.08% | +0.02 |
| CMI Cummins Inc. | Add +0.1% | 0.11% | +0.02 |
| AMAT Applied Materials Inc. | New | 0.01% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +5.1% | 0.05% | +0.01 |
| BX Blackstone Inc. | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | New | 0.01% | +0.01 |
| STX Seagate Technology Holdings | New | 0.01% | +0.01 |
| MINV Matthews Asia Innovators Act | New | 0.01% | +0.01 |
| Q Qnity Electronics Inc. | New | 0.01% | +0.01 |
| GEV GE Vernova Inc. | New | 0.01% | +0.01 |
| HPE Hewlett Packard Enterprise | New | 0.01% | +0.01 |
| JBL Jabil Inc. | New | 0.01% | +0.01 |
| DFAU Dimensional US Core Equity M | New | 0.01% | +0.01 |
| GWW WW Grainger Inc. | New | 0.01% | +0.01 |
| JSMD Janus Small Mid Cap GR Alp | New | 0.01% | +0.01 |
| RFG Invesco S&P Midcap 400 Pure | New | 0.01% | +0.01 |
| FIX Comfort Systems USA Inc. | New | 0.01% | +0.01 |
| FNDX Schwab Fndmntl US LRG Co. ETF | New | 0.01% | +0.01 |
| MTUM iShares MSCI USA Momentum Fa | New | 0.01% | +0.01 |
| OEF iShares S&P 100 ETF | New | 0.01% | +0.01 |
| IYW iShares Ustechnology ETF | New | 0.01% | +0.01 |
| QUAL iShares MSCI USA Quality Fac | Add +10.9% | 0.07% | +0.01 |
| METV Roundhill Ball Metaverse ETF | New | 0.01% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +13.1% | 0.04% | +0.01 |
| GE General Electric | Add +20.3% | 0.02% | +0.01 |
| IGM iShares Expanded Tech Sector | Add +11.3% | 0.01% | +0.00 |
| VHT Vanguard Health Care ETF | Add +17.1% | 0.03% | +0.00 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +3.9% | 0.03% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +1.7% | 0.07% | +0.00 |
| XLI SS Industrial Select Sector | Add +6.0% | 0.04% | +0.00 |
| IVE iShares S&P 500 Value ETF | Add +13.3% | 0.03% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 314 | $2.3B | LLY, IVV, IJH, SCHF, AVGO |
| Q1 2026 | 297 | $2.1B | LLY, IVV, IJH, SLYV, SCHF |
| Q4 2025 | 271 | $2.2B | LLY, IVV, SLYV, IJH, SCHF |
| Q3 2025 | 247 | $1.9B | LLY, IVV, SLYV, IJH, SCHF |
| Q2 2025 | 244 | $1.8B | LLY, IVV, IJH, SLYV, SCHF |
| Q1 2025Amended | 237 | $1.7B | LLY, IVV, IJH, SLYV, SCHF |
| Q4 2024 | 235 | $1.7B | LLY, IVV, SLYV, IJH, AAPL |
| Q3 2024 | 225 | $1.8B | LLY, IVV, SLYV, IJH, SCHF |
| Q2 2024 | 226 | $1.8B | LLY, IVV, IJH, SLYV, MSFT |
| Q1 2024 | 239 | $1.8B | LLY, IVV, IJH, IJR, SLYV |