13F HOLDINGS REPORT

Goelzer Investment Management, Inc.

Quarter ended Q4 2024 · Filed January 21, 2025 · Accession 0001085146-25-000355

Total Value

$1.72B

Positions

235

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (235)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ELI LILLY & CO	LLY	547,438	$422.6M	24.53%
2	ISHARES TR	464287200	247,578	$145.7M	8.46%
3	SPDR SER TR	78464A300	838,513	$73.2M	4.25%
4	ISHARES TR	464287507	1,133,441	$70.6M	4.10%
5	APPLE INC	AAPL	153,462	$38.4M	2.23%
6	MICROSOFT CORP	MSFT	87,911	$37.1M	2.15%
7	SCHWAB STRATEGIC TR	808524805	1,906,668	$35.3M	2.05%
8	EATON CORP PLC	ETN	57,580	$19.1M	1.11%
9	ISHARES TR	464287804	164,899	$19.0M	1.10%
10	ALPHABET INC	GOOG	95,112	$18.1M	1.05%
11	EXXON MOBIL CORP	XOM	165,475	$17.8M	1.03%
12	QUALCOMM INC	QCOM	107,601	$16.5M	0.96%
13	ISHARES TR	464288653	151,809	$15.1M	0.88%
14	BROADCOM INC	AVGO	62,594	$14.5M	0.84%
15	LOCKHEED MARTIN CORP	LMT	28,926	$14.1M	0.82%
16	NVIDIA CORPORATION	NVDA	101,516	$13.6M	0.79%
17	JANUS DETROIT STR TR	47103U852	299,873	$13.2M	0.77%
18	OMEGA HEALTHCARE INVS INC	681936100	344,504	$13.0M	0.76%
19	MERCK & CO INC	MRK	131,045	$13.0M	0.76%
20	JPMORGAN CHASE & CO.	VYLD	52,185	$12.5M	0.73%
21	ISHARES TR	464288646	239,034	$12.4M	0.72%
22	PEPSICO INC	PEP	79,303	$12.1M	0.70%
23	CHEVRON CORP NEW	CVX	81,211	$11.8M	0.68%
24	NISOURCE INC	NI	317,899	$11.7M	0.68%
25	US BANCORP DEL	USB-PS	240,154	$11.5M	0.67%
26	PIMCO ETF TR	72201R866	216,752	$11.2M	0.65%
27	AMAZON COM INC	AMZN	50,314	$11.0M	0.64%
28	BANK AMERICA CORP	060505104	229,046	$10.1M	0.58%
29	BERKSHIRE HATHAWAY INC DEL	BRK-A	21,712	$9.8M	0.57%
30	ISHARES TR	464287598	52,952	$9.8M	0.57%
31	PRINCIPAL FINANCIAL GROUP IN	PFG	121,946	$9.4M	0.55%
32	ANALOG DEVICES INC	ADI	43,984	$9.3M	0.54%
33	TRAVELERS COMPANIES INC	TRV	38,709	$9.3M	0.54%
34	ABBVIE INC	ABBV	51,612	$9.2M	0.53%
35	ENBRIDGE INC	ENNPF	210,866	$8.9M	0.52%
36	PALO ALTO NETWORKS INC	PANW	49,089	$8.9M	0.52%
37	COSTCO WHSL CORP NEW	22160K105	9,677	$8.9M	0.51%
38	SPDR S&P 500 ETF TR	SPY	15,114	$8.9M	0.51%
39	CITIZENS FINL GROUP INC	CIA	201,177	$8.8M	0.51%
40	TE CONNECTIVITY PLC	TEL	60,593	$8.7M	0.50%
41	AIR PRODS & CHEMS INC	AIIR	29,375	$8.5M	0.49%
42	UNITEDHEALTH GROUP INC	UNH	16,532	$8.4M	0.49%
43	JOHNSON & JOHNSON	JNJ	57,360	$8.3M	0.48%
44	ENTERGY CORP NEW	ENO	108,858	$8.3M	0.48%
45	VISA INC	V	25,575	$8.1M	0.47%
46	INTERNATIONAL BUSINESS MACHS	INTR	35,895	$7.9M	0.46%
47	GENTEX CORP	GNTX	273,958	$7.9M	0.46%
48	WALMART INC	WMT	83,614	$7.6M	0.44%
49	VERIZON COMMUNICATIONS INC	VZ	188,380	$7.5M	0.44%
50	CISCO SYS INC	CSCO	126,632	$7.5M	0.44%
51	PRICE T ROWE GROUP INC	TROW	64,503	$7.3M	0.42%
52	AMERICAN ELEC PWR CO INC	025537101	78,187	$7.2M	0.42%
53	PRUDENTIAL FINL INC	PUKPF	60,407	$7.2M	0.42%
54	BRISTOL-MYERS SQUIBB CO	CELG-RI	126,307	$7.1M	0.41%
55	PROCTER AND GAMBLE CO	742718109	41,452	$6.9M	0.40%
56	GATX CORP	GATX	44,539	$6.9M	0.40%
57	ISHARES TR	464287309	65,977	$6.7M	0.39%
58	ADOBE INC	ADBE	15,038	$6.7M	0.39%
59	SPDR S&P MIDCAP 400 ETF TR	MDY	11,491	$6.5M	0.38%
60	BOOKING HOLDINGS INC	BKNG	1,313	$6.5M	0.38%
61	MCKESSON CORP	MCK	11,071	$6.3M	0.37%
62	WILLIAMS SONOMA INC	WSM	33,977	$6.3M	0.37%
63	SYSCO CORP	SYY	81,838	$6.3M	0.36%
64	ISHARES TR	464287606	68,671	$6.2M	0.36%
65	TJX COS INC NEW	872540109	51,418	$6.2M	0.36%
66	INGREDION INC	INGR	44,562	$6.1M	0.36%
67	LOWES COS INC	548661107	24,364	$6.0M	0.35%
68	INTERPUBLIC GROUP COS INC	INTR	212,451	$6.0M	0.35%
69	SMUCKER J M CO	832696405	53,581	$5.9M	0.34%
70	MEDTRONIC PLC	MDT	71,441	$5.7M	0.33%
71	CATERPILLAR INC	CAT	15,639	$5.7M	0.33%
72	APOLLO GLOBAL MGMT INC	03769M106	34,287	$5.7M	0.33%
73	META PLATFORMS INC	META	9,641	$5.6M	0.33%
74	ISHARES TR	464288240	106,880	$5.6M	0.32%
75	ASTRAZENECA PLC	AZN	83,689	$5.5M	0.32%
76	STARBUCKS CORP	SBUX	59,579	$5.4M	0.32%
77	ARISTA NETWORKS INC	ANET	48,637	$5.4M	0.31%
78	TARGET CORP	TGT	39,599	$5.4M	0.31%
79	HOME DEPOT INC	HD	13,612	$5.3M	0.31%
80	ISHARES TR	464288638	102,530	$5.3M	0.31%
81	UNION PAC CORP	UNP	22,809	$5.2M	0.30%
82	RTX CORPORATION	RTX	44,897	$5.2M	0.30%
83	HONEYWELL INTL INC	438516106	22,877	$5.2M	0.30%
84	SOUTHERN CO	SOMN	60,552	$5.0M	0.29%
85	PFIZER INC	PFE	184,109	$4.9M	0.28%
86	TESLA INC	TSLA	12,072	$4.9M	0.28%
87	FIFTH THIRD BANCORP	FITBM	106,314	$4.5M	0.26%
88	RIO TINTO PLC	RTNTF	76,431	$4.5M	0.26%
89	MASTERCARD INCORPORATED	MA	8,531	$4.5M	0.26%
90	THE CIGNA GROUP	125523100	15,971	$4.4M	0.26%
91	ISHARES TR	464287705	34,699	$4.3M	0.25%
92	AMERICAN EXPRESS CO	AXP	14,351	$4.3M	0.25%
93	JOHNSON CTLS INTL PLC	G51502105	52,948	$4.2M	0.24%
94	BORGWARNER INC	BWA	129,896	$4.1M	0.24%
95	BERKSHIRE HATHAWAY INC DEL	BRK-A	6	$4.1M	0.24%
96	STANLEY BLACK & DECKER INC	SWK	50,460	$4.1M	0.24%
97	CORTEVA INC	CTVA	70,689	$4.0M	0.23%
98	ZOETIS INC	ZTS	23,940	$3.9M	0.23%
99	IQVIA HLDGS INC	IQV	19,754	$3.9M	0.23%
100	ULTA BEAUTY INC	ULTA	8,788	$3.8M	0.22%
101	HANOVER INS GROUP INC	410867105	24,430	$3.8M	0.22%
102	NEXSTAR MEDIA GROUP INC	NXST	23,490	$3.7M	0.22%
103	EQUINIX INC	EQIX	3,926	$3.7M	0.21%
104	FREEPORT-MCMORAN INC	FCX	90,612	$3.5M	0.20%
105	ISHARES TR	464287614	8,525	$3.4M	0.20%
106	DISNEY WALT CO	254687106	30,431	$3.4M	0.20%
107	KLA CORP	KLAC	5,333	$3.4M	0.20%
108	INTUITIVE SURGICAL INC	ISRG	6,412	$3.3M	0.19%
109	EASTMAN CHEM CO	EMN	36,341	$3.3M	0.19%
110	T-MOBILE US INC	TMUSZ	15,031	$3.3M	0.19%
111	NEXTERA ENERGY INC	NEE-PW	46,218	$3.3M	0.19%
112	BOSTON SCIENTIFIC CORP	BSX	35,337	$3.2M	0.18%
113	CORNING INC	GLW	65,816	$3.1M	0.18%
114	WELLS FARGO CO NEW	949746101	44,110	$3.1M	0.18%
115	SCHWAB CHARLES CORP	SCHW-PJ	41,831	$3.1M	0.18%
116	SCHLUMBERGER LTD	SLB	79,151	$3.0M	0.18%
117	EOG RES INC	EOG	23,276	$2.9M	0.17%
118	BAXTER INTL INC	071813109	96,215	$2.8M	0.16%
119	ACCENTURE PLC IRELAND	ACN	7,661	$2.7M	0.16%
120	VANGUARD INDEX FDS	922908629	10,000	$2.6M	0.15%
121	VANGUARD INDEX FDS	922908751	10,447	$2.5M	0.15%
122	ISHARES TR	464287499	25,577	$2.3M	0.13%
123	ISHARES TR	464287473	16,959	$2.2M	0.13%
124	J P MORGAN EXCHANGE TRADED F	46641Q654	42,473	$2.2M	0.12%
125	ISHARES TR	464287879	18,582	$2.0M	0.12%
126	POLARIS INC	PII	34,224	$2.0M	0.11%
127	INVESCO QQQ TR	IVZ	3,852	$2.0M	0.11%
128	CARRIER GLOBAL CORPORATION	CARR	27,611	$1.9M	0.11%
129	AMERICAN INTL GROUP INC	026874784	25,700	$1.9M	0.11%
130	BOOZ ALLEN HAMILTON HLDG COR	BAH	13,459	$1.7M	0.10%
131	ISHARES TR	464287465	20,608	$1.6M	0.09%
132	VEEVA SYS INC	VEEV	7,225	$1.5M	0.09%
133	VANGUARD INDEX FDS	922908769	5,201	$1.5M	0.09%
134	ISHARES TR	464287432	15,401	$1.3M	0.08%
135	CUMMINS INC	CMI	3,699	$1.3M	0.07%
136	VANGUARD BD INDEX FDS	921937835	17,719	$1.3M	0.07%
137	OTIS WORLDWIDE CORP	OTIS	12,995	$1.2M	0.07%
138	AUTOMATIC DATA PROCESSING IN	ADP	4,061	$1.2M	0.07%
139	ALPHABET INC	GOOG	6,237	$1.2M	0.07%
140	ORACLE CORP	ORCL-PD	6,838	$1.1M	0.07%
141	MCDONALDS CORP	MCD	3,815	$1.1M	0.06%
142	ISHARES TR	464288166	10,132	$1.1M	0.06%
143	NORFOLK SOUTHN CORP	655844108	4,471	$1.0M	0.06%
144	VANGUARD WORLD FD	92204A702	1,659	$1.0M	0.06%
145	VANGUARD SCOTTSDALE FDS	92206C680	9,307	$961,414	0.06%
146	EMERSON ELEC CO	EMR	7,656	$948,809	0.06%
147	VANGUARD INDEX FDS	922908611	4,430	$877,938	0.05%
148	DIGITAL RLTY TR INC	253868103	4,856	$861,115	0.05%
149	SELECT SECTOR SPDR TR	81369Y506	9,863	$844,835	0.05%
150	ABBOTT LABS	ABLZF	7,353	$831,698	0.05%
151	FARMERS & MERCHANTS BANCORP	FMCB	27,564	$811,760	0.05%
152	VERTEX PHARMACEUTICALS INC	VRTX	1,915	$771,171	0.04%
153	GOLDMAN SACHS ETF TR	NVGLF	6,687	$770,209	0.04%
154	SELECT SECTOR SPDR TR	81369Y605	15,462	$747,260	0.04%
155	VANGUARD INDEX FDS	922908363	1,363	$734,279	0.04%
156	ISHARES TR	46432F339	4,111	$732,087	0.04%
157	DIGI INTL INC	253798102	23,350	$705,871	0.04%
158	FRANKLIN ELEC INC	FELE	7,055	$687,510	0.04%
159	ISHARES TR	464287440	7,351	$679,639	0.04%
160	ISHARES TR	46432F842	9,534	$670,050	0.04%
161	TRACTOR SUPPLY CO	TSCO	12,587	$667,881	0.04%
162	DBX ETF TR	233051200	15,774	$653,044	0.04%
163	VANGUARD INTL EQUITY INDEX F	922042858	14,362	$632,503	0.04%
164	INVESCO EXCHANGE TRADED FD T	IVZ	9,370	$628,081	0.04%
165	SELECT SECTOR SPDR TR	81369Y803	2,662	$618,905	0.04%
166	ISHARES TR	464287515	6,145	$615,238	0.04%
167	ZIMMER BIOMET HOLDINGS INC	ZBH	5,598	$591,299	0.03%
168	FASTENAL CO	FAST	8,050	$578,876	0.03%
169	BOEING CO	BA-PA	3,213	$568,701	0.03%
170	3M CO	MMM	4,350	$561,542	0.03%
171	SNAP ON INC	SNA	1,628	$552,729	0.03%
172	CROWDSTRIKE HLDGS INC	CRWD	1,612	$551,562	0.03%
173	SELECT SECTOR SPDR TR	81369Y407	2,452	$550,133	0.03%
174	ECOLAB INC	ECL	2,315	$542,451	0.03%
175	VANGUARD INDEX FDS	922908538	2,114	$536,428	0.03%
176	BLACKROCK INC	BLK	510	$522,807	0.03%
177	WASTE MGMT INC DEL	94106L109	2,546	$513,758	0.03%
178	SELECT SECTOR SPDR TR	81369Y209	3,666	$504,376	0.03%
179	AON PLC	AON	1,386	$497,796	0.03%
180	VANGUARD SCOTTSDALE FDS	92206C730	1,834	$489,165	0.03%
181	VALERO ENERGY CORP	VLO	3,980	$487,909	0.03%
182	CVS HEALTH CORP	CVS	10,850	$487,057	0.03%
183	GENERAL DYNAMICS CORP	GD	1,838	$484,295	0.03%
184	ISHARES TR	464288182	6,693	$483,101	0.03%
185	AMERICAN TOWER CORP NEW	03027X100	2,596	$476,133	0.03%
186	FIRST SOLAR INC	FSLR	2,669	$470,385	0.03%
187	VANGUARD WORLD FD	92204A504	1,817	$460,955	0.03%
188	VANGUARD INDEX FDS	922908512	2,655	$429,500	0.02%
189	THERMO FISHER SCIENTIFIC INC	TMO	819	$426,127	0.02%
190	VANGUARD INDEX FDS	922908553	4,672	$416,150	0.02%
191	ISHARES TR	464287655	1,863	$411,649	0.02%
192	TAIWAN SEMICONDUCTOR MFG LTD	874039100	2,078	$410,385	0.02%
193	XCEL ENERGY INC	XELLL	6,050	$408,496	0.02%
194	CRANE COMPANY	CR	2,672	$405,476	0.02%
195	VANGUARD SCOTTSDALE FDS	92206C714	4,929	$400,482	0.02%
196	COCA COLA CO	KO	6,295	$391,927	0.02%
197	ISHARES TR	464287150	2,971	$382,131	0.02%
198	HUNTINGTON INGALLS INDS INC	446413106	2,022	$382,127	0.02%
199	SELECT SECTOR SPDR TR	81369Y704	2,870	$378,186	0.02%
200	CHART INDS INC	16115Q308	1,942	$370,612	0.02%
201	CHUBB LIMITED	CB	1,340	$370,242	0.02%
202	STRYKER CORPORATION	SYK	1,015	$365,451	0.02%
203	ISHARES TR	464287408	1,900	$362,672	0.02%
204	AFLAC INC	AFL	3,503	$362,351	0.02%
205	VANGUARD INDEX FDS	922908736	832	$341,487	0.02%
206	CSX CORP	CSX	10,565	$340,933	0.02%
207	VANGUARD WORLD FD	92204A884	2,184	$338,395	0.02%
208	CONOCOPHILLIPS	COP	3,332	$330,435	0.02%
209	COMCAST CORP NEW	CCZ	8,802	$330,340	0.02%
210	VANGUARD INTL EQUITY INDEX F	922042775	5,709	$327,754	0.02%
211	ISHARES TR	464287226	3,249	$314,829	0.02%
212	GOLDMAN SACHS ETF TR	NVGLF	9,370	$312,396	0.02%
213	VANGUARD WHITEHALL FDS	921946406	2,431	$310,172	0.02%
214	DICKS SPORTING GOODS INC	253393102	1,330	$304,358	0.02%
215	ISHARES TR	464287481	2,277	$288,610	0.02%
216	VANGUARD SPECIALIZED FUNDS	921908844	1,445	$282,975	0.02%
217	LINDE PLC	LIN	663	$277,579	0.02%
218	KRAFT HEINZ CO	KHC	8,889	$272,982	0.02%
219	EPAM SYS INC	EPAM	1,167	$272,868	0.02%
220	ISHARES INC	46434G103	5,180	$270,500	0.02%
221	FIRST MERCHANTS CORP	FRMEP	6,765	$269,856	0.02%
222	PHILLIPS 66	PSX	2,320	$264,318	0.02%
223	AMGEN INC	AMGN	1,010	$263,247	0.02%
224	BECTON DICKINSON & CO	BDX	1,159	$262,943	0.02%
225	MARATHON PETE CORP	MARA	1,854	$258,633	0.02%
226	VANGUARD INDEX FDS	922908744	1,519	$257,167	0.01%
227	J P MORGAN EXCHANGE TRADED F	46641Q134	4,343	$254,109	0.01%
228	ELEVANCE HEALTH INC	ELV	682	$251,590	0.01%
229	SELECT SECTOR SPDR TR	81369Y308	3,059	$240,446	0.01%
230	COLGATE PALMOLIVE CO	CL	2,620	$238,185	0.01%
231	PAYCHEX INC	PAYX	1,630	$228,559	0.01%
232	MANULIFE FINL CORP	56501R106	7,240	$222,341	0.01%
233	ISHARES TR	464289438	924	$217,390	0.01%
234	ADVANCED MICRO DEVICES INC	AMD	1,799	$217,302	0.01%
235	BP PLC	BPPFF	7,237	$213,926	0.01%