Goelzer Investment Management, Inc. quarter change: USA Stocks, Reduced
In share positions in stocks (listed in the US), from the quarter ended 2026-03-31 to 2026-06-30, Goelzer Investment Management, Inc. opened 22 positions, added to 20, reduced 152, sold out of 14 and left 21 unchanged. The largest increase in value was LLY (+$147,619,910); the largest decrease was XOMXXXX (-$6,011,408).
- LLY: Country of operation United States; Class COM; Shares 2026-03-31 540,417; Shares 2026-06-30 537,488.
- XOMXXXX: Country of operation —; Class COM; Shares 2026-03-31 163,626; Shares 2026-06-30 159,080.
- CAT: Country of operation United States; Class COM; Shares 2026-03-31 20,216; Shares 2026-06-30 19,073.
- PANW: Country of operation United States; Class COM; Shares 2026-03-31 32,022; Shares 2026-06-30 30,253.
Two Form 13F-HR filings compared (SEC CIK 1550057): 2026-03-31 (filed 2026-04-09) and 2026-06-30 (filed 2026-07-15). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move; share change is the position change.
| Stock | Country of operation | Class | Shares 2026-03-31 | Shares 2026-06-30 | Share change | Value 2026-03-31 | Value 2026-06-30 | Value change |
|---|
LLY
ELI LILLY & CO | United States | COM | 540,417 | 537,488 | -2,929 | $497,059,392 | $644,679,302 | +$147,619,910 |
|---|
XOMXXXX
EXXON MOBIL CORP | | COM | 163,626 | 159,080 | -4,546 | $27,760,849 | $21,749,441 | -$6,011,408 |
|---|
CAT
CATERPILLAR INC | United States | COM | 20,216 | 19,073 | -1,143 | $14,322,343 | $20,311,026 | +$5,988,683 |
|---|
PANW
PALO ALTO NETWORKS INC | United States | COM | 32,022 | 30,253 | -1,769 | $5,133,768 | $10,316,879 | +$5,183,111 |
|---|
MBX
MBX BIOSCIENCES INC | United States | COM | 164,172 | 4,000 | -160,172 | $4,900,535 | $220,800 | -$4,679,735 |
|---|
GOOG
ALPHABET INC | United States | CAP STK CL C | 90,548 | 86,369 | -4,179 | $25,974,687 | $30,516,872 | +$4,542,185 |
|---|
CSCO
CISCO SYS INC | United States | COM | 128,234 | 123,289 | -4,945 | $9,949,711 | $14,481,569 | +$4,531,858 |
|---|
CVX
CHEVRON CORPORATION | United States | COM | 88,978 | 84,978 | -4,000 | $18,409,540 | $14,085,886 | -$4,323,654 |
|---|
TROW
PRICE T ROWE GROUP INC | United States | COM | 52,019 | 6,500 | -45,519 | $4,688,983 | $738,985 | -$3,949,998 |
|---|
QCOM
QUALCOMM INC | United States | COM | 80,663 | 77,526 | -3,137 | $10,387,747 | $14,325,938 | +$3,938,191 |
|---|
AAPL
APPLE INC | United States | COM | 161,957 | 154,703 | -7,254 | $41,103,178 | $44,764,792 | +$3,661,614 |
|---|
GATX
GATX CORP | United States | COM | 26,210 | 5,674 | -20,536 | $4,475,116 | $1,005,377 | -$3,469,739 |
|---|
WMT
WALMART INC | United States | COM | 104,296 | 83,861 | -20,435 | $12,961,889 | $9,498,090 | -$3,463,799 |
|---|
LRCX
LAM RESEARCH CORP | United States | COM NEW | 15,953 | 15,226 | -727 | $3,408,536 | $6,597,918 | +$3,189,382 |
|---|
DELL
DELL TECHNOLOGIES INC | United States | CL C | 12,044 | 11,568 | -476 | $1,976,782 | $4,991,147 | +$3,014,365 |
|---|
OMC
OMNICOM GROUP INC | United States | COM | 69,051 | 31,002 | -38,049 | $5,200,240 | $2,257,902 | -$2,942,338 |
|---|
OHI
OMEGA HEALTHCARE INVS INC | United States | COM | 342,600 | 254,182 | -88,418 | $15,012,737 | $12,119,420 | -$2,893,317 |
|---|
LMT
LOCKHEED MARTIN CORP | United States | COM | 26,860 | 26,274 | -586 | $16,234,080 | $13,385,533 | -$2,848,547 |
|---|
ADI
ANALOG DEVICES INC | United States | COM | 41,860 | 40,572 | -1,288 | $13,317,395 | $16,113,951 | +$2,796,556 |
|---|
ETN
EATON CORP PLC | | SHS | 49,807 | 48,279 | -1,528 | $17,814,626 | $20,572,807 | +$2,758,181 |
|---|
UNH
UNITEDHEALTH GROUP INC | United States | COM | 18,545 | 17,688 | -857 | $5,018,160 | $7,351,787 | +$2,333,627 |
|---|
NVDA
NVIDIA CORPORATION | United States | COM | 123,763 | 118,649 | -5,114 | $21,584,273 | $23,740,499 | +$2,156,226 |
|---|
GLW
CORNING INC | United States | COM | 32,998 | 25,488 | -7,510 | $4,486,739 | $6,510,400 | +$2,023,661 |
|---|
WSM
WILLIAMS SONOMA INC | United States | COM | 39,573 | 38,444 | -1,129 | $7,215,293 | $8,961,354 | +$1,746,061 |
|---|
VZ
VERIZON COMMUNICATIONS INC | United States | COM | 190,525 | 185,390 | -5,135 | $9,564,363 | $7,849,425 | -$1,714,938 |
|---|
ABBV
ABBVIE INC | United States | COM | 65,122 | 62,744 | -2,378 | $14,163,353 | $15,788,907 | +$1,625,554 |
|---|
FMAO
FARMERS & MERCHANTS BANCORP | United States | COM | 328,604 | 223,604 | -105,000 | $8,435,265 | $6,837,811 | -$1,597,454 |
|---|
PFG
PRINCIPAL FINANCIAL GROUP IN | United States | COM | 116,874 | 112,394 | -4,480 | $10,531,502 | $12,113,807 | +$1,582,305 |
|---|
MCK
MCKESSON CORP | United States | COM | 10,111 | 9,572 | -539 | $8,749,659 | $7,232,607 | -$1,517,052 |
|---|
SWK
STANLEY BLACK & DECKER INC | United States | COM | 71,270 | 68,277 | -2,993 | $5,064,458 | $6,426,253 | +$1,361,795 |
|---|
FTNT
FORTINET INC | United States | COM | 19,772 | 18,880 | -892 | $1,615,768 | $2,900,346 | +$1,284,578 |
|---|
PEP
PEPSICO INC | United States | COM | 51,874 | 50,053 | -1,821 | $8,055,550 | $6,777,177 | -$1,278,373 |
|---|
CFG
CITIZENS FINL GROUP INC | United States | COM | 153,963 | 149,448 | -4,515 | $9,233,191 | $10,471,822 | +$1,238,631 |
|---|
USB
US BANCORP | United States | COM NEW | 205,214 | 196,550 | -8,664 | $10,673,187 | $11,871,606 | +$1,198,419 |
|---|
MSFT
MICROSOFT CORP | United States | COM | 86,279 | 82,547 | -3,732 | $31,937,926 | $30,791,638 | -$1,146,288 |
|---|
IBM
INTERNATIONAL BUSINESS MACHS | United States | COM | 30,331 | 30,103 | -228 | $7,352,014 | $8,465,238 | +$1,113,224 |
|---|
BAC
BANK OF AMER CORP | United States | COM | 236,146 | 221,564 | -14,582 | $11,512,139 | $12,624,736 | +$1,112,597 |
|---|
TRV
TRAVELERS COMPANIES INC | United States | COM | 38,051 | 36,668 | -1,383 | $11,098,573 | $12,104,918 | +$1,006,345 |
|---|
COST
COSTCO WHOLESALE CORPORATION | United States | COM | 9,578 | 9,146 | -432 | $9,543,821 | $8,555,822 | -$987,999 |
|---|
PFE
PFIZER INC | United States | COM | 181,055 | 170,730 | -10,325 | $5,084,037 | $4,111,190 | -$972,847 |
|---|
ACN
ACCENTURE PLC IRELAND | | SHS CLASS A | 11,022 | 9,860 | -1,162 | $2,185,491 | $1,227,033 | -$958,458 |
|---|
INGR
INGREDION INC | United States | COM | 42,606 | 40,622 | -1,984 | $4,800,011 | $3,847,310 | -$952,701 |
|---|
MDT
MEDTRONIC PLC | Ireland | SHS | 72,360 | 68,242 | -4,118 | $6,269,995 | $5,338,533 | -$931,462 |
|---|
TMUS
T-MOBILE US INC | United States | COM | 16,668 | 15,420 | -1,248 | $3,500,788 | $2,586,403 | -$914,385 |
|---|
MCD
MCDONALDS CORP | United States | COM | 16,572 | 15,915 | -657 | $5,150,434 | $4,302,024 | -$848,410 |
|---|
SYY
SYSCO CORP | United States | COM | 77,474 | 76,183 | -1,291 | $5,526,239 | $6,367,372 | +$841,133 |
|---|
BMY
BRISTOL-MYERS SQUIBB CO | United States | COM | 156,664 | 150,829 | -5,835 | $9,501,642 | $8,690,740 | -$810,902 |
|---|
THG
HANOVER INS GROUP INC | United States | COM | 23,282 | 22,529 | -753 | $4,035,936 | $4,823,940 | +$788,004 |
|---|
GOOGL
ALPHABET INC | United States | CAP STK CL A | 13,464 | 12,939 | -525 | $3,871,797 | $4,623,839 | +$752,042 |
|---|
LOW
LOWES COS INC | United States | COM | 25,380 | 23,802 | -1,578 | $5,996,823 | $5,248,137 | -$748,686 |
|---|
V
VISA INC | United States | COM CL A | 27,135 | 25,824 | -1,311 | $8,201,289 | $8,860,049 | +$658,760 |
|---|
GNTX
GENTEX CORP | United States | COM | 239,045 | 231,523 | -7,522 | $5,223,137 | $5,850,599 | +$627,462 |
|---|
AMZN
AMAZON COM INC | United States | COM | 53,861 | 44,452 | -9,409 | $11,217,631 | $10,594,614 | -$623,017 |
|---|
EOG
EOG RES INC | United States | COM | 24,470 | 22,725 | -1,745 | $3,537,697 | $2,948,167 | -$589,530 |
|---|
TJX
TJX COS INC NEW | United States | COM | 48,488 | 47,244 | -1,244 | $7,743,544 | $7,157,476 | -$586,068 |
|---|
AZN
ASTRAZENECA PLC | | ORD | 41,673 | 40,260 | -1,413 | $8,218,789 | $7,634,140 | -$584,649 |
|---|
CRWD
CROWDSTRIKE HLDGS INC | United States | CL A | 1,664 | 1,605 | -59 | $649,643 | $1,224,840 | +$575,197 |
|---|
CARR
CARRIER GLOBAL CORPORATION | United States | COM | 33,319 | 33,156 | -163 | $1,876,193 | $2,431,965 | +$555,772 |
|---|
ANET
ARISTA NETWORKS INC | United States | COM SHS | 40,211 | 25,815 | -14,396 | $4,937,107 | $4,385,453 | -$551,654 |
|---|
DIS
DISNEY WALT CO | United States | COM | 32,579 | 26,913 | -5,666 | $3,139,975 | $2,590,424 | -$549,551 |
|---|
TEL
TE CONNECTIVITY PLC | | ORD SHS | 41,060 | 40,003 | -1,057 | $8,582,326 | $8,064,918 | -$517,408 |
|---|
APTV
APTIV PLC | | COM SHS | 38,641 | 35,383 | -3,258 | $2,683,232 | $2,171,809 | -$511,423 |
|---|
MRK
MERCK & CO INC | United States | COM | 127,005 | 122,719 | -4,286 | $15,277,442 | $15,769,353 | +$491,911 |
|---|
FITB
FIFTH THIRD BANCORP | United States | COM | 102,655 | 93,176 | -9,479 | $4,769,352 | $5,252,332 | +$482,980 |
|---|
UNP
UNION PAC CORP | United States | COM | 26,629 | 25,476 | -1,153 | $6,460,627 | $6,929,472 | +$468,845 |
|---|
INTU
INTUIT | United States | COM | 2,363 | 2,189 | -174 | $1,021,714 | $571,329 | -$450,385 |
|---|
NFLX
NETFLIX INC. | United States | COM | 16,235 | 16,145 | -90 | $1,560,996 | $1,152,753 | -$408,243 |
|---|
ENB
ENBRIDGE INC | | COM | 169,108 | 161,878 | -7,230 | $9,155,534 | $8,775,419 | -$380,115 |
|---|
FDX
FEDEX CORP | United States | COM | 7,422 | 7,245 | -177 | $2,643,568 | $2,268,639 | -$374,929 |
|---|
LHX
L3HARRIS TECHNOLOGIES INC | United States | COM | 5,153 | 4,874 | -279 | $1,778,558 | $1,416,336 | -$362,222 |
|---|
PRU
PRUDENTIAL FINL INC | United States | COM | 55,851 | 53,787 | -2,064 | $5,456,036 | $5,805,201 | +$349,165 |
|---|
KR
KROGER CO | United States | COM | 17,592 | 16,637 | -955 | $1,272,958 | $923,853 | -$349,105 |
|---|
NEE
NEXTERA ENERGY INC | United States | COM | 20,398 | 17,610 | -2,788 | $1,894,552 | $1,545,589 | -$348,963 |
|---|
BPOP
POPULAR INC | United States | COM NEW | 14,183 | 13,705 | -478 | $1,902,934 | $2,250,087 | +$347,153 |
|---|
ELV
ELEVANCE HEALTH INC FORMERLY | United States | COM | 5,267 | 4,877 | -390 | $1,541,915 | $1,886,083 | +$344,168 |
|---|
PG
PROCTER & GAMBLE CO | United States | COM | 54,529 | 51,364 | -3,165 | $7,876,196 | $7,532,046 | -$344,150 |
|---|
TSCO
TRACTOR SUPPLY CO | United States | COM | 17,262 | 13,957 | -3,305 | $781,981 | $441,190 | -$340,791 |
|---|
BRKB
BERKSHIRE HATHAWAY INC DEL | | CL B NEW | 16,527 | 16,439 | -88 | $7,919,499 | $8,225,662 | +$306,163 |
|---|
SBUX
STARBUCKS CORP | United States | COM | 39,479 | 37,607 | -1,872 | $3,536,924 | $3,843,060 | +$306,136 |
|---|
META
META PLATFORMS INC | United States | CL A | 12,963 | 12,626 | -337 | $7,416,239 | $7,111,822 | -$304,417 |
|---|
EMN
EASTMAN CHEM CO | United States | COM | 30,393 | 30,113 | -280 | $2,319,594 | $2,016,969 | -$302,625 |
|---|
UNM
UNUM GROUP | United States | COM | 27,521 | 25,728 | -1,793 | $2,009,825 | $2,300,042 | +$290,217 |
|---|
CTVA
CORTEVA INC | United States | COM | 59,552 | 55,553 | -3,999 | $4,985,105 | $4,704,790 | -$280,315 |
|---|
JCI
JOHNSON CONTROLS INTERNATION | | SHS | 44,827 | 41,995 | -2,832 | $5,870,055 | $6,135,844 | +$265,789 |
|---|
ABT
ABBOTT LABORATORIES | United States | COM | 9,653 | 8,277 | -1,376 | $991,103 | $751,016 | -$240,087 |
|---|
KO
COCA COLA CO | United States | COM | 87,475 | 84,750 | -2,725 | $6,652,451 | $6,887,651 | +$235,200 |
|---|
NXST
NEXSTAR MEDIA GROUP INC | United States | COMMON STOCK | 22,355 | 21,408 | -947 | $4,042,506 | $3,823,255 | -$219,251 |
|---|
SO
SOUTHERN CO | United States | COM | 57,882 | 56,100 | -1,782 | $5,586,739 | $5,369,324 | -$217,415 |
|---|
VLO
VALERO ENERGY CORP | United States | COM | 29,282 | 28,600 | -682 | $7,235,022 | $7,448,636 | +$213,614 |
|---|
NI
NISOURCE INC | United States | COM | 245,549 | 236,722 | -8,827 | $11,457,325 | $11,256,119 | -$201,206 |
|---|
DHR
DANAHER CORP DEL | United States | COM | 2,169 | 1,145 | -1,024 | $411,198 | $218,178 | -$193,020 |
|---|
APD
AIR PRODUCTS AND CHEMICALS I | United States | COM | 19,090 | 18,269 | -821 | $5,545,363 | $5,356,174 | -$189,189 |
|---|
ADSK
AUTODESK INC | United States | COM | 3,673 | 3,552 | -121 | $879,317 | $690,580 | -$188,737 |
|---|
KMI
KINDER MORGAN INC DEL | United States | COM | 55,829 | 52,884 | -2,945 | $1,871,947 | $1,690,702 | -$181,245 |
|---|
MS
MORGAN STANLEY | United States | COM NEW | 4,917 | 4,731 | -186 | $809,191 | $988,969 | +$179,778 |
|---|
COP
CONOCOPHILLIPS | United States | COM | 3,270 | 2,535 | -735 | $431,640 | $263,539 | -$168,101 |
|---|
IQV
IQVIA HLDGS INC | United States | COM | 11,266 | 10,800 | -466 | $1,921,304 | $2,086,776 | +$165,472 |
|---|
SYK
STRYKER CORPORATION | United States | COM | 1,891 | 1,454 | -437 | $621,332 | $457,933 | -$163,399 |
|---|
CSX
CSX CORP | United States | COM | 31,815 | 30,680 | -1,135 | $1,306,006 | $1,458,221 | +$152,215 |
|---|
TSLA
TESLA INC | United States | COM | 6,003 | 5,656 | -347 | $2,231,616 | $2,378,914 | +$147,298 |
|---|