Monarch Capital Management Inc.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 22, 2026), Monarch Capital Management Inc. reported 130 stock positions worth $436.2 million. Its top holding was Microsoft (MSFT) at 4.1% of the portfolio, followed by Apple (AAPL, 3.9%) and Merck (MRK, 3.5%). Compared with Q1 2026, it opened 5 new positions, sold out of 2, added to 55 and reduced 55. The biggest buy was Abbvie (ABBV, shares +1%) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −24%).

Most Recent 13F
Q2 2026
Location
FORT WAYNE, IN
CIK
0000938759
Portfolio Value
$436.2M (Q2 2026)
SEC Filing
0000938759-26-000003 ↗ filed Jul 22, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $354.3M Q1 2024 Q2 2024: $340.3M Q2 2024 Q3 2024: $371.4M Q3 2024 Q4 2024: $365.1M Q4 2024 Q1 2025: $359.8M Q1 2025 Q2 2025: $372.5M Q2 2025 Q3 2025: $407.9M Q3 2025 Q4 2025: $406.8M Q4 2025 Q1 2026: $408.6M Q1 2026 Q2 2026: $436.2M $436.2M Q2 2026

Holdings 130 stocks · $436.2M
MSFT Microsoft Corp. 4.14% 48,413 $18.1M Add +0.8%
AAPL Apple Inc. 3.87% 58,407 $16.9M Reduce -2.4%
MRK Merck & Co. Inc. 3.53% 119,322 $15.4M Reduce -1.0%
CSCO Cisco Systems Inc. 3.45% 128,027 $15.0M Reduce -4.4%
JNJ Johnson & Johnson 3.36% 57,752 $14.7M Reduce -1.2%
GOOG Alphabet Inc. Class C 3.01% 37,110 $13.1M Reduce -1.2%
WMT Walmart Inc. 2.97% 114,462 $13.0M Reduce -2.8%
ABBV Abbvie Inc. 2.83% 49,047 $12.3M Add +0.6%
HD Home Depot Inc. 2.65% 32,717 $11.5M Reduce -0.9%
PWR Quanta Services Inc. 2.57% 15,558 $11.2M Reduce -10.7%
MCD McDonald's Corp. 2.33% 37,652 $10.2M Reduce -0.7%
INTC Intel Corp. 2.31% 72,107 $10.1M Reduce -16.6%
FELE Franklin Electric Co. Inc. 2.28% 92,767 $9.9M Reduce -2.1%
SGOV iShares 0-3 Month Treasury B 2.18% 94,511 $9.5M Reduce -24.3%
LKFN Lakeland Financial Corp. 2.08% 146,833 $9.1M Reduce -0.8%
KR Kroger Co. 1.96% 154,200 $8.6M Add +3.4%
ADP Automatic Data Processing 1.91% 36,958 $8.3M Add +0.1%
EMR Emerson Electric Co. 1.85% 56,365 $8.1M Reduce -0.4%
USB US Bancorp 1.72% 123,612 $7.5M Reduce -0.6%
KO The Coca-Cola Co. 1.68% 89,785 $7.3M Reduce -1.7%
JPM JPMorgan Chase & Co. 1.55% 20,695 $6.8M Add +0.7%
PG The Procter & Gamble Co. 1.53% 45,496 $6.7M Reduce -0.9%
AFL Aflac Inc. 1.45% 54,068 $6.3M Reduce -1.5%
XOM Exxon Mobil Corp. 1.42% 45,435 $6.2M Reduce -5.2%
STLD Steel Dynamics Inc. 1.40% 26,525 $6.1M Reduce -8.9%
FFIV F5 Inc. 1.34% 14,036 $5.8M Reduce -2.9%
GOOGL Alphabet Inc. Class A 1.23% 15,058 $5.4M Reduce -3.4%
GILD Gilead Sciences Inc. 1.18% 40,685 $5.1M Add +1.4%
MMM 3M Co. 1.16% 31,332 $5.1M Add +0.4%
ABT Abbott Laboratories 1.16% 55,805 $5.1M Add +2.9%
CINF Cincinnati Financial Corp. 1.15% 27,051 $5.0M Reduce -0.5%
NEE Nextera Energy Inc. 1.14% 56,577 $5.0M Reduce -1.1%
SYK Stryker Corp. 1.11% 15,296 $4.8M Add +9.3%
MDT Medtronic PLC 1.09% 59,986 $4.7M Add +0.6%
SYY Sysco Corp. 1.05% 54,693 $4.6M Add +0.3%
GPC Genuine Parts Co. 1.03% 37,668 $4.5M Add +3.2%
APD Air Products & Chemicals Inc. 0.92% 13,761 $4.0M Add +0.3%
CARR Carrier Global Corp. 0.79% 46,960 $3.4M Add +0.2%
UPS United Parcel Service Class B 0.79% 32,036 $3.4M Add +1.8%
FLS Flowserve Corp. 0.78% 45,491 $3.4M Reduce -0.4%
ZBH Zimmer Biomet Holdings Inc. 0.75% 37,714 $3.3M Add +0.9%
VWO Vanguard Ftse Emerging Marke 0.72% 52,656 $3.1M Add +1.7%
PFE Pfizer Inc. 0.70% 127,572 $3.1M Add +2.2%
RTX RTX Corp. 0.69% 15,948 $3.0M Reduce -0.9%
FISV Fiserv Inc. 0.64% 56,749 $2.8M Add +24.5%
BRK.B Berkshire Hathaway Inc. Class B 0.63% 5,531 $2.8M Reduce -0.7%
CB Chubb Ltd. 0.61% 7,853 $2.7M Add +2.6%
VTIP Vanguard Short-Term Tips 0.59% 51,236 $2.6M Reduce -3.9%
TGT Target Corp. 0.57% 18,999 $2.5M Reduce -1.4%
GE General Electric filed as GE AEROSPACE 0.55% 6,368 $2.4M Reduce -5.2%
REGN Regeneron Pharmaceuticals 0.55% 3,816 $2.4M Add +19.1%
ACN Accenture PLC Class A 0.54% 19,088 $2.4M Add +4.8%
DG Dollar General Corp. 0.50% 18,898 $2.2M Add +5.3%
CVX Chevron Corp. 0.50% 13,121 $2.2M Reduce -2.9%
OKE Oneok Inc. 0.50% 24,961 $2.2M Add +10.4%
RCI Rogers Communications Inc. Class B 0.47% 63,006 $2.1M Add +5.5%
CRM Salesforce Inc. 0.47% 13,029 $2.0M Add +21.7%
AES AES Corp. 0.47% 139,351 $2.0M Add +0.2%
VZ Verizon Communications Inc. 0.47% 48,126 $2.0M Add +2.0%
LMT Lockheed Martin Corp. 0.47% 3,992 $2.0M Add +10.2%
GEV GE Vernova Inc. 0.46% 1,710 $2.0M Reduce -6.1%
EEFT Euronet Worldwide Inc. 0.45% 26,680 $2.0M Reduce -7.3%
PEP Pepsico Inc. 0.43% 13,813 $1.9M Add +3.7%
PPL PPL Corp. 0.43% 51,041 $1.9M Add +2.9%
PM Philip Morris International 0.43% 10,213 $1.9M Reduce -3.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.42% 19,074 $1.9M Reduce -1.0%
ADM Archer-Daniels-Midland Co. 0.39% 22,191 $1.7M Add +3.4%
GWW WW Grainger Inc. 0.38% 1,234 $1.7M Reduce -1.2%
SMG Scotts Miracle-Gro Co. 0.38% 24,077 $1.6M Reduce -0.5%
PLXS Plexus Corp. 0.37% 5,425 $1.6M Reduce -3.1%
AMZN Amazon.com Inc. 0.34% 6,216 $1.5M Add +9.6%
BMY Bristol-Myers Squibb Co. 0.31% 23,815 $1.4M Reduce -0.6%
LLY Eli Lilly & Co. 0.30% 1,108 $1.3M Reduce -1.9%
CAT Caterpillar Inc. 0.30% 1,237 $1.3M No change
PGR Progressive Corp. 0.28% 5,633 $1.2M Add +88.2%
CHKP Check Point Software Tech 0.25% 8,263 $1.1M Add +62.4%
VTWO Vanguard Russell 2000 ETF 0.25% 8,867 $1.1M Add +3.6%
RSP Invesco S&P 500 Equal Weight 0.24% 4,952 $1.1M Add +5.5%
LIN Linde PLC 0.23% 1,897 $984K Reduce -4.3%
VOO Vanguard S&P 500 ETF 0.22% 1,411 $969K Add +206.1%
VYMI Vanguard Int High DVD YLD Inc. 0.22% 9,834 $966K Add +35.1%
TSM Taiwan Semiconductor-SP ADR 0.22% 1,976 $946K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.21% 1,252 $937K No change
NTRS Northern Trust Corp. 0.21% 5,293 $924K Reduce -5.6%
COST Costco Wholesale Corp. 0.18% 853 $798K No change
NVO Novo-Nordisk A/S-Spons ADR 0.18% 16,150 $774K Add +13.1%
J Jacobs Solutions Inc. 0.18% 6,109 $770K No change
BRK.A Berkshire Hathaway Inc. Class A 0.17% 1 $749K No change
V Visa Inc. Class A 0.17% 2,134 $732K Add +5.9%
RIO Rio Tinto PLC-Spon ADR 0.17% 7,662 $727K Add +122.9%
MO Altria Group Inc. 0.16% 9,718 $709K Add +11.0%
NVDA Nvidia Corp. 0.16% 3,489 $698K Add +4.4%
CL Colgate-Palmolive Co. 0.15% 7,249 $665K Add +1.4%
WFC Wells Fargo & Co. 0.15% 7,834 $647K Add +1.9%
CNI Canadian Natl Railway Co. 0.15% 5,347 $639K Add +0.6%
NUE Nucor Corp. 0.15% 2,853 $637K Reduce -4.1%
NSC Norfolk Southern Corp. 0.14% 2,000 $629K Reduce -5.4%
OTIS Otis Worldwide Corp. 0.14% 8,460 $606K Reduce -4.2%
ORCL Oracle Corp. 0.13% 3,934 $577K Add +4.7%
DE Deere & Co. 0.13% 881 $560K No change
PNC PNC Financial Services Group 0.13% 2,264 $557K Reduce -1.3%
VEA Vanguard Ftse Developed ETF 0.13% 7,819 $557K Add +18.5%
AMAT Applied Materials Inc. 0.13% 770 $557K Reduce -20.6%
BP BP PLC-Spons ADR 0.13% 14,772 $546K Reduce -9.7%
SHW The Sherwin-Williams Co. 0.12% 1,458 $502K Reduce -0.1%
KMB Kimberly-Clark Corp. 0.11% 4,179 $463K Reduce -4.4%
ELV Elevance Health Inc. 0.10% 1,153 $446K No change
CTAS Cintas Corp. 0.09% 2,400 $408K No change
BKH Black Hills Corp. 0.09% 5,485 $408K No change
CPRT Copart Inc. 0.09% 14,095 $397K Reduce -1.4%
GFL GFL Environmental Inc.-Sub VT 0.09% 10,645 $392K Add +80.6%
IWP iShares Russell Mid-Cap Grow 0.09% 2,656 $389K Add +17.7%
ITW Illinois Tool Works 0.09% 1,377 $374K No change
FRME First Merchants Corp. 0.08% 8,418 $368K Reduce -5.6%
CSL Carlisle Cos Inc. 0.08% 992 $360K Add +8.2%
IWM iShares Russell 2000 ETF 0.08% 1,121 $337K Add +13.9%
EEM iShares MSCI Emerging Market 0.07% 4,328 $296K Add +10.3%
TXN Texas Instruments Inc. 0.07% 988 $294K New
VTI VG Morningstar TS MKT ETF-US 0.06% 758 $280K Reduce -6.0%
T AT&T Inc. 0.06% 13,256 $274K No change
NI Nisource Inc. 0.06% 5,640 $268K No change
AMGN Amgen Inc. 0.06% 730 $264K Reduce -4.0%
COP Conocophillips 0.06% 2,436 $253K No change
IWS iShares Russell Mid-Cap Valu 0.06% 1,520 $250K New
STZ Constellation Brands Inc. Class A 0.06% 1,785 $248K New
NVS Novartis AG-Sponsored ADR 0.05% 1,450 $227K Add +3.6%
HL Hecla Mining Co. 0.05% 14,350 $221K Reduce -7.1%
UNP Union Pacific Corp. 0.05% 800 $218K New
MDLZ Mondelez International Inc. Class A 0.05% 3,500 $204K No change
EFA iShares MSCI Eafe ETF 0.05% 1,938 $201K New

Portfolio Sells Q1 2026 → Q2 2026
SGOV iShares 0-3 Month Treasury B Reduce -24.3% 2.18% −0.89
WMT Walmart Inc. Reduce -2.8% 2.97% −0.62
XOM Exxon Mobil Corp. Reduce -5.2% 1.42% −0.57
MCD McDonald's Corp. Reduce -0.7% 2.33% −0.55
CVX Chevron Corp. Reduce -2.9% 0.50% −0.19
NEE Nextera Energy Inc. Reduce -1.1% 1.14% −0.16
JNJ Johnson & Johnson Reduce -1.2% 3.36% −0.14
PG The Procter & Gamble Co. Reduce -0.9% 1.53% −0.09
RTX RTX Corp. Reduce -0.9% 0.69% −0.07
BP BP PLC-Spons ADR Reduce -9.7% 0.13% −0.06
VTIP Vanguard Short-Term Tips Reduce -3.9% 0.59% −0.06
NKE Nike Inc. Class B Sold out 0.00% −0.06
PSX Phillips 66 Sold out 0.00% −0.05
FLS Flowserve Corp. Reduce -0.4% 0.78% −0.05
BMY Bristol-Myers Squibb Co. Reduce -0.6% 0.31% −0.04
MRK Merck & Co. Inc. Reduce -1.0% 3.53% −0.04
DIS The Walt Disney Co. Reduce -1.0% 0.42% −0.03
OTIS Otis Worldwide Corp. Reduce -4.2% 0.14% −0.03
KO The Coca-Cola Co. Reduce -1.7% 1.68% −0.03
CPRT Copart Inc. Reduce -1.4% 0.09% −0.03
AFL Aflac Inc. Reduce -1.5% 1.45% −0.02
HL Hecla Mining Co. Reduce -7.1% 0.05% −0.02
EEFT Euronet Worldwide Inc. Reduce -7.3% 0.45% −0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 0.63% −0.02
LIN Linde PLC Reduce -4.3% 0.23% −0.01
HD Home Depot Inc. Reduce -0.9% 2.65% −0.01
AMGN Amgen Inc. Reduce -4.0% 0.06% −0.00
NSC Norfolk Southern Corp. Reduce -5.4% 0.14% −0.00
PM Philip Morris International Reduce -3.0% 0.43% −0.00
TGT Target Corp. Reduce -1.4% 0.57% −0.00
FRME First Merchants Corp. Reduce -5.6% 0.08% −0.00
LKFN Lakeland Financial Corp. Reduce -0.8% 2.08% −0.00
SHW The Sherwin-Williams Co. Reduce -0.1% 0.12% +0.00
VTI VG Morningstar TS MKT ETF-US Reduce -6.0% 0.06% +0.00
KMB Kimberly-Clark Corp. Reduce -4.4% 0.11% +0.00
PNC PNC Financial Services Group Reduce -1.3% 0.13% +0.01
SMG Scotts Miracle-Gro Co. Reduce -0.5% 0.38% +0.02
NTRS Northern Trust Corp. Reduce -5.6% 0.21% +0.02
NUE Nucor Corp. Reduce -4.1% 0.15% +0.02
EMR Emerson Electric Co. Reduce -0.4% 1.85% +0.04
AMAT Applied Materials Inc. Reduce -20.6% 0.13% +0.05
LLY Eli Lilly & Co. Reduce -1.9% 0.30% +0.05
GWW WW Grainger Inc. Reduce -1.2% 0.38% +0.05
GEV GE Vernova Inc. Reduce -6.1% 0.46% +0.07
GE General Electric Reduce -5.2% 0.55% +0.08
PLXS Plexus Corp. Reduce -3.1% 0.37% +0.10
CINF Cincinnati Financial Corp. Reduce -0.5% 1.15% +0.10
STLD Steel Dynamics Inc. Reduce -8.9% 1.40% +0.11
USB US Bancorp Reduce -0.6% 1.72% +0.12
GOOGL Alphabet Inc. Class A Reduce -3.4% 1.23% +0.14

Portfolio Buys Q1 2026 → Q2 2026
ABBV Abbvie Inc. Add +0.6% 2.83% +0.23
VOO Vanguard S&P 500 ETF Add +206.1% 0.22% +0.15
CARR Carrier Global Corp. Add +0.2% 0.79% +0.14
PGR Progressive Corp. Add +88.2% 0.28% +0.14
SYY Sysco Corp. Add +0.3% 1.05% +0.10
RIO Rio Tinto PLC-Spon ADR Add +122.9% 0.17% +0.09
GPC Genuine Parts Co. Add +3.2% 1.03% +0.07
JPM JPMorgan Chase & Co. Add +0.7% 1.55% +0.07
CHKP Check Point Software Tech Add +62.4% 0.25% +0.07
TXN Texas Instruments Inc. New 0.07% +0.07
ADP Automatic Data Processing Add +0.1% 1.91% +0.06
IWS iShares Russell Mid-Cap Valu New 0.06% +0.06
STZ Constellation Brands Inc. Class A New 0.06% +0.06
MMM 3M Co. Add +0.4% 1.16% +0.05
VYMI Vanguard Int High DVD YLD Inc. Add +35.1% 0.22% +0.05
AMZN Amazon.com Inc. Add +9.6% 0.34% +0.05
UNP Union Pacific Corp. New 0.05% +0.05
NVO Novo-Nordisk A/S-Spons ADR Add +13.1% 0.18% +0.05
EFA iShares MSCI Eafe ETF New 0.05% +0.05
VTWO Vanguard Russell 2000 ETF Add +3.6% 0.25% +0.04
VWO Vanguard Ftse Emerging Marke Add +1.7% 0.72% +0.04
UPS United Parcel Service Class B Add +1.8% 0.79% +0.03
GFL GFL Environmental Inc.-Sub VT Add +80.6% 0.09% +0.03
VEA Vanguard Ftse Developed ETF Add +18.5% 0.13% +0.02
RSP Invesco S&P 500 Equal Weight Add +5.5% 0.24% +0.02
MO Altria Group Inc. Add +11.0% 0.16% +0.02
V Visa Inc. Class A Add +5.9% 0.17% +0.02
IWP iShares Russell Mid-Cap Grow Add +17.7% 0.09% +0.02
IWM iShares Russell 2000 ETF Add +13.9% 0.08% +0.02
NVDA Nvidia Corp. Add +4.4% 0.16% +0.02
FISV Fiserv Inc. Add +24.5% 0.64% +0.02
EEM iShares MSCI Emerging Market Add +10.3% 0.07% +0.01
CNI Canadian Natl Railway Co. Add +0.6% 0.15% +0.01
CSL Carlisle Cos Inc. Add +8.2% 0.08% +0.01
ADM Archer-Daniels-Midland Co. Add +3.4% 0.39% +0.01
CL Colgate-Palmolive Co. Add +1.4% 0.15% +0.00
CB Chubb Ltd. Add +2.6% 0.61% +0.00
NVS Novartis AG-Sponsored ADR Add +3.6% 0.05% −0.00
WFC Wells Fargo & Co. Add +1.9% 0.15% −0.00
OKE Oneok Inc. Add +10.4% 0.50% −0.00
ORCL Oracle Corp. Add +4.7% 0.13% −0.00
AES AES Corp. Add +0.2% 0.47% −0.01
CRM Salesforce Inc. Add +21.7% 0.47% −0.02
SYK Stryker Corp. Add +9.3% 1.11% −0.02
DG Dollar General Corp. Add +5.3% 0.50% −0.02
PPL PPL Corp. Add +2.9% 0.43% −0.04
APD Air Products & Chemicals Inc. Add +0.3% 0.92% −0.05
REGN Regeneron Pharmaceuticals Add +19.1% 0.55% −0.06
LMT Lockheed Martin Corp. Add +10.2% 0.47% −0.07
PEP Pepsico Inc. Add +3.7% 0.43% −0.08

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 130$436.2MMSFT, AAPL, MRK, CSCO, JNJ
Q1 2026 127$408.6MMSFT, AAPL, WMT, MRK, JNJ
Q4 2025 124$406.8MMSFT, AAPL, WMT, MRK, JNJ
Q3 2025 122$407.9MMSFT, AAPL, HD, WMT, SGOV
Q2 2025 117$372.5MMSFT, AAPL, WMT, HD, MCD
Q1 2025 115$359.8MMSFT, AAPL, HD, WMT, MCD
Q4 2024 114$365.1MMSFT, AAPL, WMT, HD, MRK
Q3 2024 118$371.4MMSFT, AAPL, HD, MRK, WMT
Q2 2024 114$340.3MMSFT, MRK, AAPL, HD, WMT
Q1 2024 116$354.3MMSFT, MRK, HD, AAPL, MCD