Goelzer Investment Management, Inc.

Registered adviser

CIK

1550057

Location

CARMEL, IN

Portfolio Value

Mid $1,868,436,083

Diversification

Diversified

Filing Date

Global Rank

#1,602 / 8,807 ▼ 113 · as of Jun 2026

Top Industry

Drug Manufacturers - General 43.7%

Period ended 20 days ago

Filed Oct 16, 2026 · 4d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 44402

Roster of Oct 1, 2026

Regulatory AUM

$4,510,923,289

Main clients

Diversified

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$4,510,923,289	Diversified
Apr 2025 to Mar 2026	$3,846,550,007	Diversified
Apr 2024 to Mar 2025	$3,159,426,779	Individuals and high net worth (51%)
May 2023 to Mar 2024	$2,360,180,745	Individuals and high net worth (59%)
Apr 2023	$2,360,180,745	Individuals and high net worth (59%)
Apr 2022 to Mar 2023	$2,415,546,706	Individuals and high net worth (58%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

8.0 effective positions (12 or fewer)

Turnover

Low turnover

9.4% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 22.1 quarters (12+), a floor since 70.8% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 62.7%; sector active share 33.8% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

294 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

34.4%

+0.1 pts

Top 5

44.2%

+0.2 pts

Top 10

53.2%

+0.8 pts

HHI

1,252

Diversified+9

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	40.1%	$749,488,677	26
Technology	15.0%	$280,582,517	33
Unclassified	12.8%	$239,546,658	83
Financial Services	8.7%	$162,325,636	35
Industrials	5.8%	$107,612,542	38
Energy	4.1%	$77,241,110	15
Communication Services	3.4%	$62,962,199	9
Consumer Cyclical	3.1%	$58,238,296	21
Consumer Defensive	3.1%	$57,398,990	11
Utilities	1.9%	$34,737,164	11
Basic Materials	1.2%	$21,761,032	8
Real Estate	0.9%	$16,541,262	4

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NUGO	Nuveen Growth Opportunities ETF	+173,828	752,454	$33,273,515
JMTG	JPMorgan Mortgage-Backed Securities ETF	+32,800	840,741	$40,641,419
JAAA	Janus Henderson AAA CLO ETF	+28,334	151,641	$7,653,321
LLY	ELI LILLY & Co	+18,689	556,177	$643,541,283
IVV	iShares Core S&P 500 ETF	+17,433	291,648	$0
VOO	VANGUARD 500 INDEX FUND	+14,882	17,056	$11,953,868
VO	VANGUARD MID-CAP INDEX FUND	+9,935	46,519	$3,648,019
BP	Bp PLC	+6,706	13,780	$606,182
TXN	Texas Instruments Inc	+5,100	6,052	$1,695,104
JMBS	Janus Henderson Mortgage-Backed Securities ETF	+4,863	325,105	$13,738,937
CRWD	CrowdStrike Holdings, Inc.	+4,792	6,397	$1,693,605
JPM	Jpmorgan Chase & Co	+4,468	79,313	$26,239,119
RTX	RTX Corp	+4,179	60,764	$11,280,836
SCHW	Schwab Charles Corp	+3,980	45,738	$4,470,432
LIN	Linde PLC	+3,430	4,555	$2,162,030
XOM	ExxonMobil Holdings Corp	+3,046	162,126	$26,386,006
MU	Micron Technology Inc	+2,497	3,559	$3,790,726
IJH	iShares Core S&P Mid-Cap ETF	+2,241	1,152,604	$0
BKNG	Booking Holdings Inc.	+1,972	18,115	$2,951,114
NI	Nisource Inc.	+1,724	238,446	$9,299,394
UNM	Unum Group	+1,649	27,377	$2,401,784
ANET	Arista Networks, Inc.	+1,645	27,460	$5,590,581
PGR	Progressive Corp/Oh/	+1,309	6,284	$1,302,736
ADI	Analog Devices Inc	+1,013	41,585	$16,497,185
IWM	iShares Russell 2000 ETF	+874	2,113	$0
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
FMAO	Farmers & Merchants Bancorp Inc	−101,402	122,202	$4,230,633
SLYV	State Street(R) SPDR(R) S & P 600(TM) Small Cap Value ETF	−56,927	317,704	$32,453,463
IVW	iShares S&P 500 Growth ETF	−50,016	8,214	$0
SCHF	Schwab International Equity ETF	−25,497	1,685,866	$46,310,739
SGOV	iShares 0-3 Month Treasury Bond ETF	−20,888	13,771	$0
APD	Air Products & Chemicals, Inc.	−11,733	6,536	$1,818,511
JMST	JPMorgan Ultra-Short Municipal Income ETF	−10,418	31,625	$1,598,960
IWD	iShares Russell 1000 Value ETF	−10,336	26,194	$0
IWF	iShares Russell 1000 Growth ETF	−8,356	23,394	$0
IJS	iShares S&P Small-Cap 600 Value ETF	−7,100	4,780	$0
GNTX	Gentex Corp	−5,680	225,843	$4,909,826
EFA	iShares MSCI EAFE ETF	−5,169	19,832	$0
XLF	State Street Corp	−4,843	13,292	$0
PANW	Palo Alto Networks Inc	−4,155	26,098	$10,368,996
ENB	Enbridge Inc	−3,868	158,010	$7,345,884
LHX	L3harris Technologies, Inc. /De/	−3,779	1,095	$259,274
TSLA	Tesla, Inc.	−3,725	1,931	$685,138
IEFA	iShares Core MSCI EAFE ETF	−3,621	7,721	$0
TSCO	Tractor Supply Co /De/	−3,495	10,462	$327,355
IEMG	iShares Trust	−3,443	6,870	$0
DFAI	Dimensional International Core Equity Market ETF	−3,432	8,159	$338,027
PFE	Pfizer Inc	−3,257	167,473	$4,776,329
NFLX	Netflix Inc	−3,165	12,980	$903,148
USB	US Bancorp De	−2,473	194,077	$11,209,887
WMT	Walmart Inc.	−2,409	81,452	$8,464,491
No positions match the current search.

New Positions

Positions the filer opened this quarter

11 positions

Ticker	Company	Shares	Value
PKG	Packaging Corp Of America	6,839	$1,567,909
CDNS	Cadence Design Systems Inc	4,063	$1,341,541
GM	General Motors Co	14,282	$1,099,714
EIX	Edison International	19,456	$1,045,370
FMDE	Fidelity Enhanced Mid Cap Core ETF	15,890	$641,638
GLD	Spdr Gold Trust	953	$362,940
SGI	Somnigroup International Inc.	5,098	$316,636
IBIT	iShares Bitcoin Trust ETF	6,132	$290,288
IBP	Installed Building Products, Inc.	1,275	$244,647
AWI	Armstrong World Industries Inc	1,440	$233,179
SHY	iShares 1-3 Year Treasury Bond ETF	19,619	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
BRK-A	Berkshire Hathaway Inc	6	$4,493,100
APTV	Aptiv PLC	35,383	$2,171,808
EME	EMCOR Group, Inc.	1,517	$1,258,927
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	12,500	$917,625
FELE	Franklin Electric Co Inc	7,040	$754,617
ADSK	Autodesk, Inc.	3,552	$690,579
SCHB	Schwab U.S. Broad Market ETF	20,807	$602,570
INTU	Intuit Inc.	2,189	$571,329
NUW	Nuveen AMT-Free Municipal Value Fund	35,805	$514,875
JSI	Janus Henderson Securitized Income ETF	9,197	$470,978
VEU	Vanguard International Equity Index Funds	4,451	$372,771
—		5,744	$322,583
DYNF	iShares U.S. Equity Factor Rotation Active ETF	4,232	$287,818
CWI	Spdr Index Shares Funds	7,045	$286,520
BX	Blackstone Inc.	2,413	$283,937
DKS	Dick's Sporting Goods, Inc.	1,239	$281,017
JBL	Jabil Inc	669	$257,886
DFAU	Dimensional US Core Equity Market ETF	4,774	$246,768
GWW	W.W. Grainger, Inc.	176	$239,430
FRME	First Merchants Corp	5,389	$235,445
FIX	Comfort Systems USA Inc	112	$221,978
MBX	MBX Biosciences, Inc.	4,000	$220,800
FNDX	Schwab Fundamental U.S. Large Company ETF	7,050	$219,255
CL	Colgate Palmolive Co	2,300	$210,864
VPU	VANGUARD UTILITIES INDEX FUND	1,057	$206,886
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

294 tracked positions · $1,868,436,083 total · filing declares 294 positions · $2,281,768,752 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 294 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
LLY	ELI LILLY & Co Healthcare	Added	556,177	+18,689	$643,541,283	−0.2%	34.44%
AAPL	Apple Inc. Technology	Reduced	153,617	-1,086	$51,157,533	+14.3%	2.74%
SCHF	Schwab International Equity ETF	Reduced	1,685,866	-25,497	$46,310,739	−2.3%	2.48%
MSFT	Microsoft Corp Technology	Added	82,906	+359	$42,522,487	+38.1%	2.28%
AVGO	Broadcom Inc. Technology	Added	119,272	+160	$41,887,133	−6.9%	2.24%
JMTG	JPMorgan Mortgage-Backed Securities ETF	Added	840,741	+32,800	$40,641,419	−0.7%	2.18%
NUGO	Nuveen Growth Opportunities ETF	Added	752,454	+173,828	$33,273,515	+32.9%	1.78%
SLYV	State Street(R) SPDR(R) S & P 600(TM) Small Cap Value ETF	Reduced	317,704	-56,927	$32,453,463	−20.6%	1.74%
GOOG	Alphabet Inc. Communication Services	Reduced	86,333	-36	$29,417,106	−3.6%	1.57%
NVDA	Nvidia Corp Technology	Reduced	117,778	-871	$26,898,139	+13.3%	1.44%
XOM	ExxonMobil Holdings Corp Energy	Added	162,126	+3,046	$26,386,006	+21.3%	1.41%
JPM	Jpmorgan Chase & Co Financial Services	Added	79,313	+4,468	$26,239,119	+7.1%	1.40%
ETN	Eaton Corp plc Industrials	Reduced	47,847	-432	$20,560,334	−0.1%	1.10%
MRK	Merck & Co., Inc. Healthcare	Reduced	120,547	-2,172	$17,516,684	+11.1%	0.94%
CVX	Chevron Corp Energy	Reduced	83,651	-1,327	$17,082,370	+21.3%	0.91%
ADI	Analog Devices Inc Technology	Added	41,585	+1,013	$16,497,185	+2.4%	0.88%
ABBV	AbbVie Inc. Healthcare	Reduced	62,366	-378	$16,314,321	+3.3%	0.87%
CAT	Caterpillar Inc Industrials	Added	19,103	+30	$15,488,521	−23.7%	0.83%
JNJ	Johnson & Johnson Healthcare	Reduced	53,901	-1,180	$14,269,750	+2.0%	0.76%
QCOM	Qualcomm Inc/De Technology	Reduced	76,441	-1,085	$14,068,201	−1.8%	0.75%
JMBS	Janus Henderson Mortgage-Backed Securities ETF	Added	325,105	+4,863	$13,738,937	−4.6%	0.74%
LMT	Lockheed Martin Corp Industrials	Reduced	26,258	-16	$13,371,886	−0.1%	0.72%
CSCO	Cisco Systems, Inc. Technology	Reduced	120,886	-2,403	$13,010,960	−10.2%	0.70%
TRV	Travelers Companies, Inc. Financial Services	Reduced	35,703	-965	$12,728,476	+5.2%	0.68%
PFG	Principal Financial Group Inc Financial Services	Reduced	111,443	-951	$12,477,158	+3.0%	0.67%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	221,202	-362	$12,040,024	−4.6%	0.64%
VOO	VANGUARD 500 INDEX FUND	Added	17,056	+14,882	$11,953,868	+700.6%	0.64%
OHI	Omega Healthcare Investors Inc Real Estate	Reduced	252,168	-2,014	$11,677,900	−3.6%	0.63%
RTX	RTX Corp Industrials	Added	60,764	+4,179	$11,280,836	+5.1%	0.60%
USB	US Bancorp De Financial Services	Reduced	194,077	-2,473	$11,209,887	−5.6%	0.60%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	43,864	-588	$10,928,715	+3.2%	0.58%
VLO	Valero Energy Corp/Tx Energy	Reduced	27,985	-615	$10,847,265	+45.6%	0.58%
PANW	Palo Alto Networks Inc Technology	Reduced	26,098	-4,155	$10,368,996	+0.5%	0.55%
SPY	Spdr S&P 500 ETF Trust	Reduced	13,290	-1,537	$10,135,352	−8.5%	0.54%
CFG	Citizens Financial Group Inc/Ri Financial Services	Reduced	148,366	-1,082	$9,459,816	−9.7%	0.51%
BMY	Bristol Myers Squibb Co Healthcare	Added	151,181	+352	$9,433,694	+8.5%	0.50%
NI	Nisource Inc. Utilities	Added	238,446	+1,724	$9,299,394	−17.4%	0.50%
V	Visa Inc. Financial Services	Reduced	25,724	-100	$9,243,404	+4.3%	0.49%
META	Meta Platforms, Inc. Communication Services	Reduced	12,471	-155	$9,043,719	+27.2%	0.48%
AEP	American Electric Power Co Inc Utilities	Reduced	74,597	-1,266	$8,850,188	−14.7%	0.47%
WSM	Williams Sonoma Inc Consumer Cyclical	Added	38,552	+108	$8,787,542	−1.9%	0.47%
WMT	Walmart Inc. Consumer Defensive	Reduced	81,452	-2,409	$8,464,491	−10.9%	0.45%
VZ	Verizon Communications Inc Communication Services	Reduced	184,068	-1,322	$8,443,199	+7.6%	0.45%
TEL	TE Connectivity plc Technology	Reduced	39,710	-293	$8,381,986	+3.9%	0.45%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	102,635	-2,091	$8,215,931	−5.1%	0.44%
MCK	Mckesson Corp Healthcare	Reduced	9,549	-23	$8,153,031	+12.7%	0.44%
JAAA	Janus Henderson AAA CLO ETF	Added	151,641	+28,334	$7,653,321	+22.9%	0.41%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	14,879	-1,560	$7,408,998	−9.9%	0.40%
ENB	Enbridge Inc Energy	Reduced	158,010	-3,868	$7,345,884	−16.3%	0.39%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	7,907	-1,239	$7,198,058	−15.9%	0.39%

Showing the top 50 of 294 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.