SEC 13F Intelligence

Managers / Q2 2023 · view latest →

MONARCH CAPITAL MANAGEMENT INC

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

Reported Value
$330M
Q2 2023
Positions
111
Filings on Record
30
2019–present window
Filed
Aug 1, 2023
original filing

Summary

Monarch Capital Management Inc reported $330M in U.S.-listed holdings across 111 positions for Q2 2023.

Its largest position, MSFT, represents 5.5% of the portfolio.

Compared with Q1 2023, the fund opened 2 new positions and exited 2.

Portfolio Metrics

Turnover
+3.6%
vs prior filed quarter
Top-10 Concentration
+34.9%
share of reported value
Largest Position
+5.5%
Microsoft
New / Exited
2 / 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: 93.0%Other: 4.3%ETP: 2.3%ADR: 0.4%
  • Common Stock · 93.0% · $307M
  • Other · 4.3% · $14M
  • ETP · 2.3% · $7M
  • ADR · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DUTMOODYS CORPNEW+600600+$208,632$208,632
TSMTAIWAN SEMICONDUCTOR MFG LTDNEW+2.0K2.0K+$200,286$200,286
SPDR SER TRSOLD OUT−6.3K0−$298,757$0
VTRSVIATRIS INCSOLD OUT−16.2K0−$156,123$0
BACVERIZON COMMUNICATIONS INCADDED+9.1K23.0K+$312,822$856,932
VODVODAFONE GROUP PLC NEWTRIMMED−17.1K18.9K−$206,439$191,576
TAT&T INCTRIMMED−24.0K50.4K−$629,269$804,375
OTISOTIS WORLDWIDE CORPTRIMMED−1.9K11.6K−$110,388$1M

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

Holdings — Q2 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM5.50%$18M53.2K
2MRKMERCK & CO INChistory →COM4.19%$14M119.2K
3AAPLAPPLE INChistory →COM4.14%$14M70.4K
4MCDMCDONALDS CORPhistory →COM3.81%$13M42.1K
5FELEFRANKLIN ELEC INChistory →COM3.42%$11M109.6K
6HDHOME DEPOT INChistory →COM3.29%$11M34.9K
7JNJJOHNSON & JOHNSONhistory →COM2.73%$9M54.4K
8WMTWALMART INChistory →COM2.66%$9M55.7K
9ADPAUTOMATIC DATA PROCESSING INhistory →COM2.65%$9M39.6K
10LKFNLAKELAND FINL CORPhistory →COM2.47%$8M168.2K
11CSCOCISCO SYS INChistory →COM2.30%$8M146.8K
12PGPROCTER AND GAMBLE COhistory →COM2.28%$8M49.6K
13ABBVABBVIE INChistory →COM2.28%$8M55.8K
14KRKROGER COhistory →COM2.10%$7M147.1K
15KOCOCA COLA COhistory →COM2.04%$7M111.3K
16EMREMERSON ELEC COhistory →COM1.93%$6M70.4K
17PWRQUANTA SVCS INChistory →COM1.92%$6M32.2K
18ABTABBOTT LABShistory →COM1.91%$6M57.9K
19MEDTRONIC PLCSHS1.76%$6M65.5K
20ACCENTURE PLC IRELANDSHS CLASS A1.75%$6M18.7K
21EXMOCEXXON MOBIL CORPhistory →COM1.73%$6M53.1K
22SYKSTRYKER CORPORATIONhistory →COM1.71%$6M18.5K
23ZBHZIMMER BIOMET HOLDINGS INChistory →COM1.57%$5M35.5K
24GOOGALPHABET INChistory →CAP STK CL C1.53%$5M41.6K
25GPCGENUINE PARTS COhistory →COM1.45%$5M28.2K
26SYYSYSCO CORPhistory →COM1.45%$5M64.6K
27AFLAFLAC INChistory →COM1.45%$5M68.4K
28USBUS BANCORP DELhistory →COM NEW1.34%$4M132.5K
29JPMJPMORGAN CHASE & COhistory →COM1.34%$4M30.3K
30NEENEXTERA ENERGY INChistory →COM1.29%$4M57.4K
31PFEPFIZER INChistory →COM1.22%$4M109.9K
32FISVFISERV INChistory →COM1.21%$4M31.6K
33GILDGILEAD SCIENCES INChistory →COM1.19%$4M51.0K
34STLDSTEEL DYNAMICS INChistory →COM1.14%$4M34.3K
35MMM3M COhistory →COM1.10%$4M36.2K
36WBAWALGREENS BOOTS ALLIANCE INChistory →COM1.06%$3M122.7K
37VANGUARD MALVERN FDSSTRM INFPROIDX0.95%$3M66.3K
38INTCINTEL CORPCOM0.93%$3M91.5K
39UPSUNITED PARCEL SERVICE INCCL B0.92%$3M17.0K
40CINFCINCINNATI FINL CORPCOM0.87%$3M29.2K
41VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.85%$3M68.9K
42FFIVF5 INCCOM0.73%$2M16.6K
43CHVCHEVRON CORP NEWCOM0.69%$2M14.5K
44FLSFLOWSERVE CORPCOM0.65%$2M58.0K
45CORECARD CORPORATIONCOM0.63%$2M82.4K
46CARRCARRIER GLOBAL CORPORATIONCOM0.63%$2M41.6K
47DISDISNEY WALT COCOM0.61%$2M22.7K
48BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.61%$2M5.9K
49APDAIR PRODS & CHEMS INCCOM0.61%$2M6.6K
50DYHTARGET CORPCOM0.53%$2M13.2K

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 ↗.