Goelzer Investment Management, Inc.
CIK 1550057 · View on SEC EDGAR ↗
- Portfolio value
- $2.3B
- Positions
- 314
- As of
- June 30, 2026
#1,394 of 9,443 by 13F value · top 14.8%
Portfolio value QoQ: +11.0% 13F does not disclose cash
- Top 10 holdings weight
- 53.13%
- Top 25 holdings weight
- 65.37%
- Positions above 1%
- 14
- Effective number of positions
- 10.8
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 3.73% Est. buys $81,366,702 · sells $154,517,722
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 88.5% still held
- New positions
- 35
- Increased
- 51
- Decreased
- 192
- Closed
- 18
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Health Care
32.6%
Technology
10.0%
Financials
5.5%
Industrials
5.5%
Retail
3.0%
Energy
2.9%
Communication Services
2.3%
Utilities
1.7%
Financial Services
1.3%
Consumer Discretionary
1.1%
Consumer Staples
1.0%
Materials
1.0%
Communications
0.9%
Real Estate
0.7%
Telecommunication
0.5%
Consumer products
0.3%
Logistics & Transportation
0.2%
Other/Unmapped
29.4%
Full portfolio 314 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| LLY Eli Lilly and Company Common Stock | $644,679,302 | 28.10% | 537,488 | $147,619,910 | Down ×4 | ||
| IVV | $205,356,766 | 8.95% | 274,215 | $22,813,760 | Down ×1 | ||
| IJH | $88,704,529 | 3.87% | 1,150,363 | $10,863,051 | Down ×1 | ||
| SCHF | $47,404,756 | 2.07% | 1,711,363 | $2,519,393 | Down ×6 | ||
| AVGO Broadcom Inc. - Common Stock | $44,994,589 | 1.96% | 119,112 | $10,907,759 | Up ×3 | ||
| AAPL Apple Inc. - Common Stock | $44,764,792 | 1.95% | 154,703 | $3,661,614 | Down ×1 | ||
| JMTG | $40,946,428 | 1.78% | 807,941 | $-853,288 | Down ×1 | ||
| SLYV | $40,875,949 | 1.78% | 374,631 | $-33,949,338 | Down ×2 | ||
| MSFT Microsoft Corporation - Common Stock | $30,791,638 | 1.34% | 82,547 | $-1,146,288 | Down ×1 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $30,516,872 | 1.33% | 86,369 | $4,542,185 | Down ×5 | ||
| NUGO | $25,031,361 | 1.09% | 578,626 | Up ×1 | |||
| JPM JP Morgan Chase & Co. Common Stock | $24,498,975 | 1.07% | 74,845 | $4,423,658 | Up ×3 | ||
| NVDA NVIDIA Corporation - Common Stock | $23,740,499 | 1.03% | 118,649 | $2,156,226 | Down ×1 | ||
| IJR | $22,989,190 | 1.00% | 155,008 | $2,987,590 | Down ×2 | ||
| XOM Exxon Mobil Corporation Common Stock | $21,749,441 | 0.95% | 159,080 | $-6,011,408 | Down ×1 | ||
| ETN Eaton Corporation, PLC Ordinary Shares | $20,572,807 | 0.90% | 48,279 | $2,758,181 | Down ×1 | ||
| CAT Caterpillar, Inc. Common Stock | $20,311,026 | 0.89% | 19,073 | $5,988,683 | Down ×4 | ||
| TLH | $16,963,244 | 0.74% | 169,041 | $-735,953 | Down ×1 | ||
| ADI Analog Devices, Inc. - Common Stock | $16,113,951 | 0.70% | 40,572 | $2,796,556 | Down ×2 | ||
| ABBV AbbVie Inc. Common Stock | $15,788,907 | 0.69% | 62,744 | $1,625,554 | Down ×1 | ||
| MRK Merck & Company, Inc. Common Stock (new) | $15,769,353 | 0.69% | 122,719 | $491,911 | Down ×2 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $14,481,569 | 0.63% | 123,289 | $4,531,858 | Down ×1 | ||
| JMBS | $14,407,710 | 0.63% | 320,242 | $-635,220 | Down ×1 | ||
| QCOM QUALCOMM Incorporated - Common Stock | $14,325,938 | 0.62% | 77,526 | $3,938,191 | Down ×1 | ||
| CVX Chevron Corporation Common Stock | $14,085,886 | 0.61% | 84,978 | $-4,323,654 | Down ×1 | ||
| JNJ Johnson & Johnson Common Stock | $13,988,875 | 0.61% | 55,081 | $106,055 | Down ×1 | ||
| LMT Lockheed Martin Corporation Common Stock | $13,385,533 | 0.58% | 26,274 | $-2,848,547 | Down ×5 | ||
| BAC Bank of America Corporation Common Stock | $12,624,736 | 0.55% | 221,564 | $1,112,597 | Down ×1 | ||
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | $12,499,913 | 0.54% | 238,502 | $-835,543 | Down ×1 | ||
| OHI Omega Healthcare Investors, Inc. Common Stock | $12,119,420 | 0.53% | 254,182 | $-2,893,317 | Down ×1 | ||
| PFG Principal Financial Group Inc - Common Stock | $12,113,807 | 0.53% | 112,394 | $1,582,305 | Down ×1 | ||
| TRV The Travelers Companies, Inc. Common Stock | $12,104,918 | 0.53% | 36,668 | $1,006,345 | Down ×2 | ||
| USB U.S. Bancorp Common Stock | $11,871,606 | 0.52% | 196,550 | $1,198,419 | Down ×5 | ||
| NI NiSource Inc Common Stock | $11,256,119 | 0.49% | 236,722 | $-201,206 | Down ×2 | ||
| SPY SPY | $11,072,487 | 0.48% | 14,827 | $881,658 | Down ×1 | ||
| RTX RTX Corporation Common Stock | $10,735,873 | 0.47% | 56,585 | $1,525,862 | Up ×1 | ||
| KLAC KLA Corporation - Common Stock | $10,675,728 | 0.47% | 35,384 | $4,915,649 | Up ×1 | ||
| AMZN Amazon.com, Inc. - Common Stock | $10,594,614 | 0.46% | 44,452 | $-623,017 | Down ×1 | ||
| CFG Citizens Financial Group, Inc. Common Stock | $10,471,822 | 0.46% | 149,448 | $1,238,631 | Down ×2 | ||
| AEP American Electric Power Company, Inc. - Common Stock | $10,378,818 | 0.45% | 75,863 | $124,739 | Down ×1 | ||
| PANW Palo Alto Networks, Inc. - Common Stock | $10,316,879 | 0.45% | 30,253 | $5,183,111 | Down ×5 | ||
| WMT Walmart Inc. - Common Stock | $9,498,090 | 0.41% | 83,861 | $-3,463,799 | Down ×1 | ||
| ACWX iShares MSCI ACWI ex U.S. ETF | $9,497,235 | 0.41% | 124,783 | $787,577 | Down ×2 | ||
| WSM Williams-Sonoma, Inc. Common Stock (DE) | $8,961,354 | 0.39% | 38,444 | $1,746,061 | Down ×4 | ||
| V Visa Inc. | $8,860,049 | 0.39% | 25,824 | $658,760 | Down ×1 | ||
| IWD | $8,856,051 | 0.39% | 36,530 | $-1,909,371 | Down ×1 | ||
| ENB Enbridge Inc Common Stock | $8,775,419 | 0.38% | 161,878 | $-380,115 | Down ×2 | ||
| BMY Bristol-Myers Squibb Company Common Stock | $8,690,740 | 0.38% | 150,829 | $-810,902 | Down ×1 | ||
| WFC Wells Fargo & Company Common Stock | $8,654,598 | 0.38% | 104,726 | $-66,455 | Down ×1 | ||
| COST Costco Wholesale Corporation - Common Stock | $8,555,822 | 0.37% | 9,146 | $-987,999 | Down ×2 | ||
| IBM International Business Machines Corporation Common Stock | $8,465,238 | 0.37% | 30,103 | $1,113,224 | Down ×1 | ||
| BRKB | $8,225,662 | 0.36% | 16,439 | $306,163 | Down ×1 | ||
| TEL TE Connectivity plc Ordinary Shares | $8,064,918 | 0.35% | 40,003 | $-517,408 | Down ×6 | ||
| IVW | $8,008,304 | 0.35% | 58,230 | $1,370,939 | Down ×1 | ||
| VZ Verizon Communications Inc. Common Stock | $7,849,425 | 0.34% | 185,390 | $-1,714,938 | Down ×2 | ||
| ETR Entergy Corporation Common Stock | $7,704,235 | 0.34% | 67,075 | $-68,381 | Down ×2 | ||
| AZN AstraZeneca PLC - American Depositary Shares | $7,634,140 | 0.33% | 40,260 | $-584,649 | Down ×1 | ||
| PG Procter & Gamble Company (The) Common Stock | $7,532,046 | 0.33% | 51,364 | $-344,150 | Down ×5 | ||
| VLO Valero Energy Corporation Common Stock | $7,448,636 | 0.32% | 28,600 | $213,614 | Down ×1 | ||
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $7,351,787 | 0.32% | 17,688 | $2,333,627 | Down ×2 | ||
| MDY | $7,238,648 | 0.32% | 10,292 | $532,139 | Down ×1 | ||
| MCK McKesson Corporation Common Stock | $7,232,607 | 0.32% | 9,572 | $-1,517,052 | Down ×6 | ||
| TJX TJX Companies, Inc. (The) Common Stock | $7,157,476 | 0.31% | 47,244 | $-586,068 | Down ×2 | ||
| IJK | $7,117,901 | 0.31% | 60,578 | $344,335 | Down ×2 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $7,111,822 | 0.31% | 12,626 | $-304,417 | Down ×1 | ||
| UNP Union Pacific Corporation Common Stock | $6,929,472 | 0.30% | 25,476 | $468,845 | Down ×1 | ||
| KO Coca-Cola Company (The) Common Stock | $6,887,651 | 0.30% | 84,750 | $235,200 | Down ×1 | ||
| FMAO Farmers & Merchants Bancorp, Inc. - Common Stock | $6,837,811 | 0.30% | 223,604 | $-1,597,454 | Down ×2 | ||
| PEP PepsiCo, Inc. - Common Stock | $6,777,177 | 0.30% | 50,053 | $-1,278,373 | Down ×1 | ||
| RIO Rio Tinto Plc Common Stock | $6,684,117 | 0.29% | 70,411 | $-108,394 | Down ×2 | ||
| MUNI | $6,635,964 | 0.29% | 126,159 | $-751,740 | Down ×6 | ||
| LRCX Lam Research Corporation - Common Stock | $6,597,918 | 0.29% | 15,226 | $3,189,382 | Down ×2 | ||
| GLW Corning Incorporated Common Stock | $6,510,400 | 0.28% | 25,488 | $2,023,661 | Down ×6 | ||
| SWK Stanley Black & Decker, Inc. Common Stock | $6,426,253 | 0.28% | 68,277 | $1,361,795 | Down ×1 | ||
| SYY Sysco Corporation Common Stock | $6,367,372 | 0.28% | 76,183 | $841,133 | Down ×1 | ||
| JAAA | $6,225,772 | 0.27% | 123,307 | $553,140 | Up ×4 | ||
| JCI Johnson Controls International plc Ordinary Share | $6,135,844 | 0.27% | 41,995 | $265,789 | Down ×5 | ||
| GNTX Gentex Corporation - Common Stock | $5,850,599 | 0.25% | 231,523 | $627,462 | Down ×6 | ||
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | $5,818,962 | 0.25% | 109,441 | $-420,710 | Down ×1 | ||
| PRU Prudential Financial, Inc. Common Stock | $5,805,201 | 0.25% | 53,787 | $349,165 | Down ×6 | ||
| SO Southern Company (The) Common Stock | $5,369,324 | 0.23% | 56,100 | $-217,415 | Down ×2 | ||
| APD Air Products and Chemicals, Inc. Common Stock | $5,356,174 | 0.23% | 18,269 | $-189,189 | Down ×6 | ||
| MDT Medtronic plc. Ordinary Shares | $5,338,533 | 0.23% | 68,242 | $-931,462 | Down ×1 | ||
| FITB Fifth Third Bancorp - Common Stock | $5,252,332 | 0.23% | 93,176 | $482,980 | Down ×1 | ||
| LOW Lowe's Companies, Inc. Common Stock | $5,248,137 | 0.23% | 23,802 | $-748,686 | Down ×1 | ||
| DELL Dell Technologies Inc. Class C Common Stock | $4,991,147 | 0.22% | 11,568 | $3,014,365 | Down ×1 | ||
| HD Home Depot, Inc. (The) Common Stock | $4,891,252 | 0.21% | 13,869 | $-127,563 | Down ×1 | ||
| THG Hanover Insurance Group Inc | $4,823,940 | 0.21% | 22,529 | $788,004 | Down ×6 | ||
| CTVA Corteva, Inc. Common Stock | $4,704,790 | 0.21% | 55,553 | $-280,315 | Down ×6 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $4,623,839 | 0.20% | 12,939 | $752,042 | Down ×1 | ||
| TGT Target Corporation Common Stock | $4,520,138 | 0.20% | 34,608 | $121,633 | Down ×6 | ||
| MA Mastercard Incorporated Common Stock | $4,493,495 | 0.20% | 8,749 | $-101,887 | Down ×1 | ||
| BRKA | $4,493,100 | 0.20% | 6 | $184,260 | |||
| ANET Arista Networks, Inc. Common Stock | $4,385,453 | 0.19% | 25,815 | $-551,654 | Down ×1 | ||
| IJJ | $4,353,960 | 0.19% | 29,472 | $230,358 | Down ×1 | ||
| MCD McDonald's Corporation Common Stock | $4,302,024 | 0.19% | 15,915 | $-848,410 | Down ×1 | ||
| PFE Pfizer, Inc. Common Stock | $4,111,190 | 0.18% | 170,730 | $-972,847 | Down ×1 | ||
| AXP American Express Company Common Stock | $4,082,678 | 0.18% | 12,070 | $78,145 | Down ×6 | ||
| IWF | $3,942,423 | 0.17% | 31,750 | $559,797 | Up ×3 | ||
| CI The Cigna Group Common Stock | $3,904,870 | 0.17% | 14,165 | $-120,244 | Down ×2 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| AVGO | $44,994,589 | 1.96% | up ×3 |
| JPM | $24,498,975 | 1.07% | up ×3 |
| JAAA | $6,225,772 | 0.27% | up ×4 |
| IWF | $3,942,423 | 0.17% | up ×3 |
| SGOV | $3,489,145 | 0.15% | up ×4 |
| CMI | $2,414,930 | 0.11% | up ×3 |
| MPC | $2,288,758 | 0.10% | up ×5 |
| XLK | $1,740,512 | 0.08% | up ×4 |
| VOO | $1,493,005 | 0.07% | up ×3 |
| TLT | $1,464,296 | 0.06% | up ×6 |
| XLE | $1,041,677 | 0.05% | up ×4 |
| IVE | $784,266 | 0.03% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| NUGO | $25,031,361 | 578,626 | 1.09% |
| BKR | $2,990,962 | 53,891 | 0.13% |
| Unknown issuer (CUSIP: 438516205) | $2,649,297 | 11,833 | 0.12% |
| Unknown issuer (CUSIP: 43849R105) | $2,606,092 | 11,788 | 0.11% |
| DXCM | $1,577,540 | 23,423 | 0.07% |
| EBAY | $1,503,150 | 13,451 | 0.07% |
| EME | $1,258,928 | 1,517 | 0.05% |
| DVN | $1,242,212 | 30,063 | 0.05% |
| MU | $1,225,856 | 1,062 | 0.05% |
| INTC | $537,576 | 3,850 | 0.02% |
| Unknown issuer (CUSIP: 314352105) | $528,198 | 3,498 | 0.02% |
| NUW | $514,876 | 35,805 | 0.02% |
| XNTK | $485,188 | 1,242 | 0.02% |
| DFAI | $478,129 | 11,591 | 0.02% |
| JSI | $470,979 | 9,197 | 0.02% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| LLY | Trimmed | -3K | +$147.6M |
| SLYV | Trimmed | -417K | -$33.9M |
| IVV | Trimmed | -5K | +$22.8M |
| AVGO | Bought more | +9K | +$10.9M |
| IJH | Trimmed | -2K | +$10.9M |
| XOM | Trimmed | -5K | -$6.0M |
| CAT | Trimmed | -1K | +$6.0M |
| PANW | Trimmed | -2K | +$5.2M |
| KLAC | Bought more | +31K | +$4.9M |
| GOOG | Trimmed | -4K | +$4.5M |
1 position hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| SJM | March 31, 2025 | 53,581 | $5,900,335 | 3.7% |
| IPG | Dec. 31, 2025 | 206,289 | $5,757,517 | No longer tracked |
| HON | June 30, 2026 | 25,014 | $5,653,983 | -1.9% |
| BAX | March 31, 2025 | 96,215 | $2,805,640 | -23.5% |
| CRM | Dec. 31, 2025 | 6,679 | $1,582,925 | -22.4% |
| CTRA | June 30, 2026 | 43,408 | $1,525,358 | No longer tracked |
| BAH | June 30, 2025 | 13,475 | $1,409,216 | -26.3% |
| PII | June 30, 2025 | 33,182 | $1,358,465 | 61.4% |
| VEEV | June 30, 2026 | 5,978 | $1,050,096 | 39.6% |
| DGII | March 31, 2026 | 23,350 | $1,010,822 | 53.7% |
| APO | March 31, 2026 | 5,518 | $798,786 | 18.1% |
| ZTS | June 30, 2026 | 6,296 | $744,263 | 6.6% |
| VYM | June 30, 2026 | 2,364 | $350,109 | No longer tracked |
| IWY | Sept. 30, 2025 | 1,420 | $350,045 | No longer tracked |
| VUG | March 31, 2025 | 832 | $341,487 | No longer tracked |
| GLD | June 30, 2026 | 793 | $341,220 | No longer tracked |
| AGG | Sept. 30, 2025 | 3,378 | $335,098 | No longer tracked |
| GTLS | June 30, 2026 | 1,595 | $329,767 | No longer tracked |
| ADBE | June 30, 2026 | 1,324 | $321,838 | 33.1% |
| SDY | June 30, 2026 | 2,202 | $321,360 | No longer tracked |
| IEMG | Sept. 30, 2025 | 5,337 | $320,381 | No longer tracked |
| SPHQ | Sept. 30, 2025 | 4,455 | $317,464 | No longer tracked |
| VIG | Dec. 31, 2025 | 1,445 | $311,817 | No longer tracked |
| VEA | Sept. 30, 2025 | 5,431 | $309,622 | No longer tracked |
| EPAM | March 31, 2025 | 1,167 | $272,868 | -36.7% |
| SHEL | June 30, 2026 | 2,932 | $272,630 | 20.9% |
| LNC | June 30, 2026 | 7,600 | $269,800 | 20.8% |
| BDX | June 30, 2025 | 1,159 | $265,481 | 39.4% |
| VTV | March 31, 2025 | 1,519 | $257,167 | No longer tracked |
| IBIT | March 31, 2026 | 5,132 | $254,804 | |
| VTV | June 30, 2026 | 1,289 | $252,902 | No longer tracked |
| BP | June 30, 2025 | 6,659 | $225,008 | 51.1% |
| DUK | June 30, 2026 | 1,701 | $222,729 | -3.5% |
| MFC | March 31, 2025 | 7,240 | $222,341 | 37.5% |
| MDLZ | June 30, 2026 | 3,856 | $222,260 | 10.9% |
| KHC | June 30, 2025 | 7,294 | $221,957 | -1.3% |
| CMCSA | Sept. 30, 2025 | 6,186 | $220,779 | -15.8% |
| BX | March 31, 2026 | 1,411 | $217,492 | 24.6% |
| AMD | March 31, 2025 | 1,799 | $217,302 | 358.2% |
| NOC | June 30, 2026 | 316 | $215,588 | 9.8% |
| EQT | June 30, 2026 | 3,335 | $212,240 | 1.3% |
| PAYX | Dec. 31, 2025 | 1,672 | $211,943 | 8.8% |
| COF | June 30, 2026 | 1,141 | $208,153 | 8.5% |
| ZBH | Dec. 31, 2025 | 2,100 | $206,834 | 10.5% |
| SPAB | Sept. 30, 2025 | 7,918 | $202,701 | No longer tracked |
| CL | Dec. 31, 2025 | 2,526 | $201,929 | 14.2% |
| XYL | Dec. 31, 2025 | 1,360 | $200,600 | -16.4% |
| VPU | Dec. 31, 2025 | 1,057 | $200,207 | No longer tracked |
| F | June 30, 2026 | 13,150 | $151,751 | 3.2% |
| AREC | March 31, 2026 | 13,522 | $33,535 | 11.5% |