13F HOLDINGS REPORT (Amended)

Goelzer Investment Management, Inc.

Quarter ended Q1 2025 · Filed April 29, 2025 · Accession 0001085146-25-002400

Total Value

$1.73B

Positions

237

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (237)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ELI LILLY & CO	LLY	550,310	$454.5M	26.32%
2	ISHARES TR	464287200	250,310	$140.6M	8.15%
3	ISHARES TR	464287507	1,151,952	$67.2M	3.89%
4	SPDR SER TR	78464A300	854,454	$67.0M	3.88%
5	SCHWAB STRATEGIC TR	808524805	1,891,714	$37.4M	2.17%
6	APPLE INC	AAPL	154,506	$34.3M	1.99%
7	MICROSOFT CORP	MSFT	83,801	$31.5M	1.82%
8	EXXON MOBIL CORP	XOM	164,010	$19.5M	1.13%
9	ISHARES TR	464287804	164,803	$17.2M	1.00%
10	QUALCOMM INC	QCOM	106,614	$16.4M	0.95%
11	ISHARES TR	464288653	157,196	$16.3M	0.94%
12	BROADCOM INC	AVGO	90,916	$15.2M	0.88%
13	ALPHABET INC	GOOG	97,244	$15.2M	0.88%
14	JANUS DETROIT STR TR	47103U852	311,312	$14.1M	0.81%
15	EATON CORP PLC	ETN	50,385	$13.7M	0.79%
16	CHEVRON CORP NEW	CVX	80,092	$13.4M	0.78%
17	OMEGA HEALTHCARE INVS INC	681936100	343,153	$13.1M	0.76%
18	LOCKHEED MARTIN CORP	LMT	28,978	$12.9M	0.75%
19	ISHARES TR	464288646	244,454	$12.8M	0.74%
20	NISOURCE INC	NI	316,852	$12.7M	0.74%
21	JPMORGAN CHASE & CO.	VYLD	51,645	$12.7M	0.73%
22	PEPSICO INC	PEP	78,864	$11.8M	0.68%
23	NVIDIA CORPORATION	NVDA	108,695	$11.8M	0.68%
24	MERCK & CO INC	MRK	130,151	$11.7M	0.68%
25	BERKSHIRE HATHAWAY INC DEL	BRK-A	21,872	$11.6M	0.67%
26	PIMCO ETF TR	72201R866	214,745	$11.1M	0.64%
27	ABBVIE INC	ABBV	50,759	$10.6M	0.62%
28	TRAVELERS COMPANIES INC	TRV	38,450	$10.2M	0.59%
29	US BANCORP DEL	USB-PS	240,412	$10.2M	0.59%
30	PRINCIPAL FINANCIAL GROUP IN	PFG	120,215	$10.1M	0.59%
31	ISHARES TR	464287598	53,063	$10.0M	0.58%
32	AMAZON COM INC	AMZN	52,467	$10.0M	0.58%
33	PROCTER AND GAMBLE CO	742718109	56,409	$9.6M	0.56%
34	BANK AMERICA CORP	060505104	230,303	$9.6M	0.56%
35	COSTCO WHSL CORP NEW	22160K105	10,106	$9.6M	0.55%
36	JOHNSON & JOHNSON	JNJ	56,522	$9.4M	0.54%
37	ENBRIDGE INC	ENNPF	208,983	$9.3M	0.54%
38	ENTERGY CORP NEW	ENO	107,732	$9.2M	0.53%
39	VISA INC	V	26,061	$9.1M	0.53%
40	ANALOG DEVICES INC	ADI	43,501	$8.8M	0.51%
41	AIR PRODS & CHEMS INC	AIIR	29,270	$8.6M	0.50%
42	VERIZON COMMUNICATIONS INC	VZ	188,453	$8.5M	0.50%
43	TE CONNECTIVITY PLC	TEL	60,036	$8.5M	0.49%
44	PALO ALTO NETWORKS INC	PANW	49,650	$8.5M	0.49%
45	UNITEDHEALTH GROUP INC	UNH	16,013	$8.4M	0.49%
46	AMERICAN ELEC PWR CO INC	025537101	76,631	$8.4M	0.48%
47	CATERPILLAR INC	CAT	24,485	$8.1M	0.47%
48	SPDR S&P 500 ETF TR	SPY	14,337	$8.0M	0.46%
49	CISCO SYS INC	CSCO	125,179	$7.7M	0.45%
50	BRISTOL-MYERS SQUIBB CO	CELG-RI	124,721	$7.6M	0.44%
51	MCKESSON CORP	MCK	11,049	$7.4M	0.43%
52	WALMART INC	WMT	83,685	$7.3M	0.43%
53	INTERNATIONAL BUSINESS MACHS	INTR	29,218	$7.3M	0.42%
54	WELLS FARGO CO NEW	949746101	100,847	$7.2M	0.42%
55	PRUDENTIAL FINL INC	PUKPF	59,164	$6.6M	0.38%
56	CITIZENS FINL GROUP INC	CIA	156,595	$6.4M	0.37%
57	MEDTRONIC PLC	MDT	71,299	$6.4M	0.37%
58	GENTEX CORP	GNTX	270,593	$6.3M	0.37%
59	ISHARES TR	464287309	67,706	$6.3M	0.36%
60	ASTRAZENECA PLC	AZN	83,228	$6.1M	0.35%
61	TJX COS INC NEW	872540109	50,130	$6.1M	0.35%
62	BOOKING HOLDINGS INC	BKNG	1,323	$6.1M	0.35%
63	PRICE T ROWE GROUP INC	TROW	66,276	$6.1M	0.35%
64	SPDR S&P MIDCAP 400 ETF TR	MDY	11,364	$6.1M	0.35%
65	SYSCO CORP	SYY	80,770	$6.1M	0.35%
66	INGREDION INC	INGR	44,049	$6.0M	0.34%
67	RTX CORPORATION	RTX	44,494	$5.9M	0.34%
68	ADOBE INC	ADBE	15,247	$5.8M	0.34%
69	LOWES COS INC	548661107	24,819	$5.8M	0.34%
70	INTERPUBLIC GROUP COS INC	INTR	211,950	$5.8M	0.33%
71	ISHARES TR	464287606	68,576	$5.7M	0.33%
72	ISHARES TR	464288240	101,682	$5.6M	0.33%
73	META PLATFORMS INC	META	9,695	$5.6M	0.32%
74	SOUTHERN CO	SOMN	59,379	$5.5M	0.32%
75	ISHARES TR	464288638	103,500	$5.4M	0.31%
76	UNION PAC CORP	UNP	22,692	$5.4M	0.31%
77	WILLIAMS SONOMA INC	WSM	33,422	$5.3M	0.31%
78	HONEYWELL INTL INC	438516106	24,403	$5.2M	0.30%
79	HOME DEPOT INC	HD	14,029	$5.1M	0.30%
80	THE CIGNA GROUP	125523100	15,609	$5.1M	0.30%
81	APOLLO GLOBAL MGMT INC	03769M106	35,138	$4.8M	0.28%
82	BERKSHIRE HATHAWAY INC DEL	BRK-A	6	$4.8M	0.28%
83	MASTERCARD INCORPORATED	MA	8,605	$4.7M	0.27%
84	PFIZER INC	PFE	182,165	$4.6M	0.27%
85	RIO TINTO PLC	RTNTF	75,273	$4.5M	0.26%
86	CORTEVA INC	CTVA	70,099	$4.4M	0.26%
87	JOHNSON CTLS INTL PLC	G51502105	53,250	$4.3M	0.25%
88	HANOVER INS GROUP INC	410867105	24,344	$4.2M	0.25%
89	GATX CORP	GATX	27,184	$4.2M	0.24%
90	NEXSTAR MEDIA GROUP INC	NXST	23,158	$4.2M	0.24%
91	FIFTH THIRD BANCORP	FITBM	105,454	$4.1M	0.24%
92	ISHARES TR	464287705	34,489	$4.1M	0.24%
93	STARBUCKS CORP	SBUX	41,941	$4.1M	0.24%
94	T-MOBILE US INC	TMUSZ	15,327	$4.1M	0.24%
95	TARGET CORP	TGT	39,167	$4.1M	0.24%
96	ZOETIS INC	ZTS	24,782	$4.1M	0.24%
97	STANLEY BLACK & DECKER INC	SWK	49,613	$3.8M	0.22%
98	AMERICAN EXPRESS CO	AXP	14,156	$3.8M	0.22%
99	ARISTA NETWORKS INC	ANET	49,140	$3.8M	0.22%
100	BORGWARNER INC	BWA	131,474	$3.8M	0.22%
101	KLA CORP	KLAC	5,370	$3.7M	0.21%
102	BOSTON SCIENTIFIC CORP	BSX	36,153	$3.6M	0.21%
103	IQVIA HLDGS INC	IQV	19,950	$3.5M	0.20%
104	NEXTERA ENERGY INC	NEE-PW	48,520	$3.4M	0.20%
105	COCA COLA CO	KO	47,573	$3.4M	0.20%
106	SCHLUMBERGER LTD	SLB	80,262	$3.4M	0.19%
107	FREEPORT-MCMORAN INC	FCX	87,324	$3.3M	0.19%
108	J P MORGAN EXCHANGE TRADED F	46641Q654	64,645	$3.3M	0.19%
109	SCHWAB CHARLES CORP	SCHW-PJ	41,936	$3.3M	0.19%
110	EASTMAN CHEM CO	EMN	36,505	$3.2M	0.19%
111	BLACKROCK INC	BLK	3,394	$3.2M	0.19%
112	EQUINIX INC	EQIX	3,920	$3.2M	0.19%
113	TESLA INC	TSLA	12,265	$3.2M	0.18%
114	ULTA BEAUTY INC	ULTA	8,594	$3.2M	0.18%
115	DISNEY WALT CO	254687106	31,527	$3.1M	0.18%
116	EOG RES INC	EOG	23,775	$3.0M	0.18%
117	CORNING INC	GLW	65,459	$3.0M	0.17%
118	ISHARES TR	464287614	8,053	$2.9M	0.17%
119	VANGUARD INDEX FDS	922908629	9,864	$2.6M	0.15%
120	INTUITIVE SURGICAL INC	ISRG	5,013	$2.5M	0.14%
121	ACCENTURE PLC IRELAND	ACN	7,934	$2.5M	0.14%
122	VANGUARD INDEX FDS	922908751	10,447	$2.3M	0.13%
123	ISHARES TR	464287499	25,577	$2.2M	0.13%
124	ISHARES TR	464287473	16,495	$2.1M	0.12%
125	ISHARES TR	46436E718	20,430	$2.1M	0.12%
126	SALESFORCE INC	CRM	7,562	$2.0M	0.12%
127	AMERICAN INTL GROUP INC	026874784	23,188	$2.0M	0.12%
128	ISHARES TR	464287879	18,591	$1.8M	0.10%
129	INVESCO QQQ TR	IVZ	3,852	$1.8M	0.10%
130	CARRIER GLOBAL CORPORATION	CARR	27,611	$1.8M	0.10%
131	VEEVA SYS INC	VEEV	7,311	$1.7M	0.10%
132	ISHARES TR	464287465	20,608	$1.7M	0.10%
133	ALPHABET INC	GOOG	10,326	$1.6M	0.09%
134	VANGUARD INDEX FDS	922908769	5,515	$1.5M	0.09%
135	ISHARES TR	464287432	15,504	$1.4M	0.08%
136	BOOZ ALLEN HAMILTON HLDG COR	BAH	13,475	$1.4M	0.08%
137	POLARIS INC	PII	33,182	$1.4M	0.08%
138	OTIS WORLDWIDE CORP	OTIS	12,995	$1.3M	0.08%
139	AUTOMATIC DATA PROCESSING IN	ADP	4,332	$1.3M	0.08%
140	VANGUARD BD INDEX FDS	921937835	17,719	$1.3M	0.08%
141	MCDONALDS CORP	MCD	3,815	$1.2M	0.07%
142	ISHARES TR	464288166	10,320	$1.1M	0.07%
143	NORFOLK SOUTHN CORP	655844108	4,471	$1.1M	0.06%
144	ORACLE CORP	ORCL-PD	6,830	$954,903	0.06%
145	VANGUARD SCOTTSDALE FDS	92206C680	10,135	$940,427	0.05%
146	ABBOTT LABS	ABLZF	7,062	$936,775	0.05%
147	VERTEX PHARMACEUTICALS INC	VRTX	1,893	$917,765	0.05%
148	SELECT SECTOR SPDR TR	81369Y506	9,788	$914,661	0.05%
149	VANGUARD WORLD FD	92204A702	1,662	$901,399	0.05%
150	CUMMINS INC	CMI	2,844	$891,424	0.05%
151	VANGUARD INDEX FDS	922908363	1,725	$886,558	0.05%
152	ISHARES TR	46432F842	11,605	$877,919	0.05%
153	EMERSON ELEC CO	EMR	7,656	$839,404	0.05%
154	VANGUARD INDEX FDS	922908611	4,430	$825,265	0.05%
155	SELECT SECTOR SPDR TR	81369Y605	15,490	$771,534	0.04%
156	ISHARES TR	464287440	7,717	$736,008	0.04%
157	ISHARES TR	46432F339	4,192	$716,371	0.04%
158	TRACTOR SUPPLY CO	TSCO	12,587	$693,559	0.04%
159	GOLDMAN SACHS ETF TR	NVGLF	6,270	$690,202	0.04%
160	DIGITAL RLTY TR INC	253868103	4,816	$690,085	0.04%
161	DBX ETF TR	233051200	15,774	$683,015	0.04%
162	VANGUARD INTL EQUITY INDEX F	922042858	14,813	$670,437	0.04%
163	FRANKLIN ELEC INC	FELE	7,040	$660,916	0.04%
164	FARMERS & MERCHANTS BANCORP	FMCB	27,564	$659,056	0.04%
165	DIGI INTL INC	253798102	23,350	$649,831	0.04%
166	3M CO	MMM	4,375	$642,513	0.04%
167	ECOLAB INC	ECL	2,527	$640,646	0.04%
168	CROWDSTRIKE HLDGS INC	CRWD	1,742	$614,195	0.04%
169	THERMO FISHER SCIENTIFIC INC	TMO	1,187	$590,712	0.03%
170	WASTE MGMT INC DEL	94106L109	2,546	$589,425	0.03%
171	AMERICAN TOWER CORP NEW	03027X100	2,623	$570,765	0.03%
172	AON PLC	AON	1,386	$553,139	0.03%
173	SELECT SECTOR SPDR TR	81369Y803	2,662	$549,730	0.03%
174	ISHARES TR	464287408	2,883	$549,443	0.03%
175	SELECT SECTOR SPDR TR	81369Y209	3,757	$548,499	0.03%
176	ISHARES TR	464287515	6,145	$546,844	0.03%
177	SNAP ON INC	SNA	1,601	$539,554	0.03%
178	BOEING CO	BA-PA	3,063	$522,395	0.03%
179	VANGUARD WORLD FD	92204A504	1,961	$519,136	0.03%
180	CHUBB LIMITED	CB	1,707	$515,497	0.03%
181	VANGUARD INDEX FDS	922908538	2,077	$508,118	0.03%
182	GENERAL DYNAMICS CORP	GD	1,838	$501,003	0.03%
183	ISHARES TR	464288182	6,693	$495,282	0.03%
184	SELECT SECTOR SPDR TR	81369Y407	2,449	$483,629	0.03%
185	SCHWAB STRATEGIC TR	808524102	22,428	$482,875	0.03%
186	VANGUARD INDEX FDS	922908512	3,007	$482,744	0.03%
187	VALERO ENERGY CORP	VLO	3,534	$466,736	0.03%
188	VANGUARD SCOTTSDALE FDS	92206C730	1,834	$465,580	0.03%
189	STRYKER CORPORATION	SYK	1,213	$451,540	0.03%
190	VANGUARD SCOTTSDALE FDS	92206C714	5,271	$435,069	0.03%
191	FASTENAL CO	FAST	5,579	$432,652	0.03%
192	XCEL ENERGY INC	XELLL	6,050	$428,280	0.02%
193	VANGUARD INDEX FDS	922908553	4,640	$420,074	0.02%
194	HUNTINGTON INGALLS INDS INC	446413106	2,000	$408,080	0.02%
195	PROSHARES TR	74348A467	3,835	$391,861	0.02%
196	AFLAC INC	AFL	3,503	$389,499	0.02%
197	SELECT SECTOR SPDR TR	81369Y704	2,897	$379,678	0.02%
198	CRANE COMPANY	CR	2,451	$375,445	0.02%
199	ISHARES TR	464287655	1,863	$371,650	0.02%
200	ELEVANCE HEALTH INC	ELV	824	$358,491	0.02%
201	CVS HEALTH CORP	CVS	5,266	$356,772	0.02%
202	CONOCOPHILLIPS	COP	3,352	$352,028	0.02%
203	VANGUARD INTL EQUITY INDEX F	922042775	5,709	$346,308	0.02%
204	TAIWAN SEMICONDUCTOR MFG LTD	874039100	2,084	$345,944	0.02%
205	ISHARES TR	464287150	2,808	$342,605	0.02%
206	FIRST SOLAR INC	FSLR	2,669	$337,442	0.02%
207	ISHARES TR	464287226	3,249	$321,392	0.02%
208	GOLDMAN SACHS ETF TR	NVGLF	8,953	$319,175	0.02%
209	SPDR INDEX SHS FDS	78463X848	10,785	$319,021	0.02%
210	COMCAST CORP NEW	CCZ	8,601	$317,377	0.02%
211	AMGEN INC	AMGN	1,010	$314,666	0.02%
212	VANGUARD WORLD FD	92204A884	2,115	$313,804	0.02%
213	VANGUARD WHITEHALL FDS	921946406	2,431	$313,502	0.02%
214	CSX CORP	CSX	10,523	$309,692	0.02%
215	LINDE PLC	LIN	627	$291,957	0.02%
216	PHILLIPS 66	PSX	2,320	$286,474	0.02%
217	VANGUARD SPECIALIZED FUNDS	921908844	1,445	$280,316	0.02%
218	J P MORGAN EXCHANGE TRADED F	46641Q134	4,343	$276,736	0.02%
219	ZIMMER BIOMET HOLDINGS INC	ZBH	2,425	$274,443	0.02%
220	FIRST MERCHANTS CORP	FRMEP	6,765	$273,577	0.02%
221	DICKS SPORTING GOODS INC	253393102	1,330	$268,075	0.02%
222	BECTON DICKINSON & CO	BDX	1,159	$265,481	0.02%
223	ISHARES TR	464289438	1,234	$260,300	0.02%
224	CHART INDS INC	16115Q308	1,795	$259,127	0.02%
225	MARATHON PETE CORP	MARA	1,754	$255,541	0.01%
226	PAYCHEX INC	PAYX	1,630	$251,477	0.01%
227	ISHARES INC	46434G103	4,619	$249,288	0.01%
228	COLGATE PALMOLIVE CO	CL	2,599	$243,527	0.01%
229	SELECT SECTOR SPDR TR	81369Y308	2,910	$237,661	0.01%
230	ISHARES TR	464287481	2,017	$236,978	0.01%
231	BP PLC	BPPFF	6,659	$225,008	0.01%
232	KRAFT HEINZ CO	KHC	7,294	$221,957	0.01%
233	DANAHER CORPORATION	235851102	1,079	$221,195	0.01%
234	VANGUARD TAX-MANAGED FDS	921943858	4,255	$216,282	0.01%
235	INVESCO EXCHANGE TRADED FD T	IVZ	3,167	$210,099	0.01%
236	L3HARRIS TECHNOLOGIES INC	LHX	1,001	$209,520	0.01%
237	MORGAN STANLEY	MS-PQ	1,764	$205,806	0.01%