SEC 13F Intelligence

Managers / Q1 2023 · view latest →

MONARCH CAPITAL MANAGEMENT INC

CIK 0000938759 · 127 WEST BERRY STREET STE 402, FORT WAYNE, IN, 46802 · 2604222765

Reported Value
$326M
Q1 2023
Positions
111
Filings on Record
30
2019–present window
Filed
Apr 25, 2023
original filing

Summary

Monarch Capital Management Inc reported $326M in U.S.-listed holdings across 111 positions for Q1 2023.

Its largest position, MSFT, represents 4.8% of the portfolio.

Compared with Q4 2022, the fund opened 4 new positions and exited 2.

Portfolio Metrics

Turnover
+5.0%
vs prior filed quarter
Top-10 Concentration
+33.8%
share of reported value
Largest Position
+4.8%
Microsoft
New / Exited
4 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $247MQ4 ’18Q1 ’19: $276MQ2 ’19: $280MQ3 ’19: $286MQ4 ’19: $306MQ4 ’19Q1 ’20: $245MQ2 ’20: $274MQ3 ’20: $288MQ4 ’20: $318MQ4 ’20Q1 ’21: $337MQ2 ’21: $350MQ3 ’21: $360MQ4 ’21: $390MQ4 ’21Q1 ’22: $378MQ2 ’22: $336MQ3 ’22: $307MQ4 ’22: $326MQ4 ’22Q1 ’23: $326MQ2 ’23: $330MQ3 ’23: $311MQ4 ’23: $330MQ4 ’23Q1 ’24: $354MQ2 ’24: $340MQ3 ’24: $371MQ4 ’24: $365MQ4 ’24Q1 ’25: $360MQ2 ’25: $372MQ3 ’25: $408MQ4 ’25: $407MQ4 ’25Q1 ’26: $409Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 93.1%Other: 4.1%ETP: 2.4%ADR: 0.4%
  • Common Stock · 93.1% · $303M
  • Other · 4.1% · $13M
  • ETP · 2.4% · $8M
  • ADR · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LINDE PLCNEW+2.3K2.3K+$811,873$811,873
GEHCGE HEALTHCARE TECHNOLOGIES INEW+4.0K4.0K+$330,828$330,828
MDLZMONDELEZ INTL INCNEW+3.0K3.0K+$207,679$207,679
ISHARES TRNEW+2.3K2.3K+$205,409$205,409
LINDE PLCSOLD OUT−2.3K0−$752,171$0
CVSCVS HEALTH CORPSOLD OUT−2.3K0−$214,523$0
ZIMVZIMVIE INCADDED+28.8K64.1K+$134,062$463,624
WFCWELLS FARGO CO NEWTRIMMED−13.0K11.8K−$582,917$439,589

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM4.85%$16M54.8K
2MRKMERCK & CO INChistory →COM3.95%$13M120.5K
3AAPLAPPLE INChistory →COM3.69%$12M72.8K
4MCDMCDONALDS CORPhistory →COM3.66%$12M42.6K
5FELEFRANKLIN ELEC INChistory →COM3.24%$11M112.2K
6LKFNLAKELAND FINL CORPhistory →COM3.22%$11M167.7K
7HDHOME DEPOT INChistory →COM3.13%$10M34.6K
8ABBVABBVIE INChistory →COM2.75%$9M56.3K
9ADPAUTOMATIC DATA PROCESSING INhistory →COM2.72%$9M39.7K
10WMTWALMART INChistory →COM2.60%$8M57.4K
11JNJJOHNSON & JOHNSONhistory →COM2.60%$8M54.7K
12CSCOCISCO SYS INChistory →COM2.37%$8M147.4K
13PGPROCTER AND GAMBLE COhistory →COM2.28%$7M49.9K
14KRKROGER COhistory →COM2.22%$7M146.3K
15KOCOCA COLA COhistory →COM2.15%$7M112.3K
16EMREMERSON ELEC COhistory →COM1.89%$6M70.5K
17ABTABBOTT LABShistory →COM1.81%$6M58.3K
18EXMOCEXXON MOBIL CORPhistory →COM1.79%$6M53.2K
19PWRQUANTA SVCS INChistory →COM1.74%$6M34.1K
20SYKSTRYKER CORPORATIONhistory →COM1.66%$5M18.9K
21ACCENTURE PLC IRELANDSHS CLASS A1.65%$5M18.8K
22MEDTRONIC PLCSHS1.64%$5M65.8K
23SYYSYSCO CORPhistory →COM1.56%$5M65.7K
24GPCGENUINE PARTS COhistory →COM1.46%$5M28.3K
25ZBHZIMMER BIOMET HOLDINGS INChistory →COM1.44%$5M36.3K
26AFLAFLAC INChistory →COM1.39%$5M70.0K
27NEENEXTERA ENERGY INChistory →COM1.39%$5M58.6K
28PFEPFIZER INChistory →COM1.36%$4M108.3K
29GOOGALPHABET INChistory →CAP STK CL C1.34%$4M42.0K
30GILDGILEAD SCIENCES INChistory →COM1.34%$4M52.4K
31USBUS BANCORP DELhistory →COM NEW1.31%$4M117.6K
32WBAWALGREENS BOOTS ALLIANCE INChistory →COM1.30%$4M122.9K
33JPMJPMORGAN CHASE & COhistory →COM1.23%$4M30.7K
34MMM3M COhistory →COM1.22%$4M38.0K
35STLDSTEEL DYNAMICS INChistory →COM1.21%$4M34.7K
36FISVFISERV INChistory →COM1.11%$4M31.9K
37VANGUARD MALVERN FDSSTRM INFPROIDX1.01%$3M68.7K
38CINFCINCINNATI FINL CORPhistory →COM1.01%$3M29.2K
39UPSUNITED PARCEL SERVICE INCCL B0.97%$3M16.2K
40INTCINTEL CORPCOM0.93%$3M93.0K
41VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.88%$3M71.3K
42CHVCHEVRON CORP NEWCOM0.74%$2M14.8K
43FFIVF5 INCCOM0.74%$2M16.5K
44CORECARD CORPORATIONCOM0.70%$2M75.8K
45DISDISNEY WALT COCOM0.70%$2M22.8K
46DYHTARGET CORPCOM0.68%$2M13.3K
47FLSFLOWSERVE CORPCOM0.61%$2M58.5K
48APDAIR PRODS & CHEMS INCCOM0.59%$2M6.6K
49CARRCARRIER GLOBAL CORPORATIONCOM0.58%$2M41.3K
50BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.56%$2M5.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$409M127Apr 16, 202613F-HRchanges · EDGAR ↗
Q4 2025$407M124Jan 23, 202613F-HRchanges · EDGAR ↗
Q3 2025$408M122Oct 20, 202513F-HRchanges · EDGAR ↗
Q2 2025$372M117Aug 20, 202513F-HRchanges · EDGAR ↗
Q1 2025$360M115Apr 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$365M114Jan 15, 202513F-HRchanges · EDGAR ↗
Q3 2024$371M118Oct 16, 202413F-HRchanges · EDGAR ↗
Q2 2024$340M114Jul 24, 202413F-HRchanges · EDGAR ↗
Q1 2024$354M116Apr 25, 202413F-HRchanges · EDGAR ↗
Q4 2023$330M112Jan 17, 202413F-HRchanges · EDGAR ↗
Q3 2023$311M109Nov 2, 202313F-HRchanges · EDGAR ↗
Q2 2023$330M111Aug 1, 202313F-HRchanges · EDGAR ↗
Q1 2023$326M111Apr 25, 202313F-HRchanges · EDGAR ↗
Q4 2022$326M109Jan 26, 202313F-HRchanges · EDGAR ↗
Q3 2022$307M113Oct 20, 202213F-HRchanges · EDGAR ↗
Q2 2022$336M121Jul 20, 202213F-HRchanges · EDGAR ↗
Q1 2022$378M123Apr 20, 202213F-HRchanges · EDGAR ↗
Q4 2021$390M123Jan 19, 202213F-HRchanges · EDGAR ↗
Q3 2021$360M118Nov 4, 202113F-HRchanges · EDGAR ↗
Q2 2021$350M111Jul 22, 202113F-HRchanges · EDGAR ↗
Q1 2021$337M110Apr 27, 202113F-HRchanges · EDGAR ↗
Q4 2020$318M104Jan 26, 202113F-HRchanges · EDGAR ↗
Q3 2020$288M99Oct 22, 202013F-HRchanges · EDGAR ↗
Q2 2020$274M94Jul 23, 202013F-HRchanges · EDGAR ↗
Q1 2020$245M90Apr 30, 202013F-HRchanges · EDGAR ↗
Q4 2019$306M104Jan 28, 202013F-HRchanges · EDGAR ↗
Q3 2019$286M98Oct 30, 201913F-HRchanges · EDGAR ↗
Q2 2019$280M99Jul 31, 201913F-HRchanges · EDGAR ↗
Q1 2019$276M98May 1, 201913F-HRchanges · EDGAR ↗
Q4 2018$247M92Jan 23, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.