SEC 13F Intelligence

Managers / Q3 2023 · view latest →

MONARCH CAPITAL MANAGEMENT INC

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

Reported Value
$311M
Q3 2023
Positions
109
Filings on Record
30
2019–present window
Filed
Nov 2, 2023
original filing

Summary

Monarch Capital Management Inc reported $311M in U.S.-listed holdings across 109 positions for Q3 2023.

Its largest position, MSFT, represents 5.4% of the portfolio.

Compared with Q2 2023, the fund opened 0 new positions and exited 2.

Portfolio Metrics

Turnover
+1.7%
vs prior filed quarter
Top-10 Concentration
+34.4%
share of reported value
Largest Position
+5.4%
Microsoft

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: 4.4%ETP: 2.2%ADR: 0.4%
  • Common Stock · 93.1% · $290M
  • Other · 4.4% · $14M
  • ETP · 2.2% · $7M
  • ADR · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DUTMOODYS CORPSOLD OUT−6000−$208,632$0
TSMTAIWAN SEMICONDUCTOR MFG LTDSOLD OUT−2.0K0−$200,286$0
CPRTCOPART INCADDED+6.5K13.0K−$32,776$561,549
TAT&T INCTRIMMED−13.1K37.3K−$243,438$560,937
VODVODAFONE GROUP PLC NEWTRIMMED−4.3K14.6K−$53,253$138,323
ISHARES TRTRIMMED−1.5K5.8K−$67,922$219,086
SPDR S&P 500 ETF TRADDED+1701.3K+$55,566$543,085
BACVERIZON COMMUNICATIONS INCADDED+3.3K26.4K−$2,669$854,263

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

Holdings — Q3 2023

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM5.36%$17M52.8K
2MRKMERCK & CO INChistory →COM3.96%$12M119.1K
3AAPLAPPLE INChistory →COM3.82%$12M69.5K
4MCDMCDONALDS CORPhistory →COM3.54%$11M41.8K
5HDHOME DEPOT INChistory →COM3.40%$11M35.0K
6FELEFRANKLIN ELEC INChistory →COM3.13%$10M109.2K
7ADPAUTOMATIC DATA PROCESSING INhistory →COM3.02%$9M38.9K
8WMTWALMART INChistory →COM2.82%$9M54.9K
9JNJJOHNSON & JOHNSONhistory →COM2.72%$8M54.4K
10ABBVABBVIE INChistory →COM2.66%$8M55.4K
11LKFNLAKELAND FINL CORPhistory →COM2.55%$8M167.1K
12CSCOCISCO SYS INChistory →COM2.52%$8M146.2K
13PGPROCTER AND GAMBLE COhistory →COM2.31%$7M49.2K
14GOOGALPHABET INCCAP STK CL C · CAP STK CL A2.27%$7M53.6K
15EMREMERSON ELEC COhistory →COM2.18%$7M70.3K
16KRKROGER COhistory →COM2.11%$7M147.1K
17KOCOCA COLA COhistory →COM2.01%$6M110.9K
18EXMOCEXXON MOBIL CORPhistory →COM2.00%$6M52.8K
19PWRQUANTA SVCS INChistory →COM1.89%$6M31.4K
20ACCENTURE PLC IRELANDSHS CLASS A1.85%$6M18.7K
21ABTABBOTT LABShistory →COM1.80%$6M57.9K
22AFLAFLAC INChistory →COM1.66%$5M67.4K
23MEDTRONIC PLCSHS1.65%$5M65.1K
24SYKSTRYKER CORPORATIONhistory →COM1.59%$5M18.1K
25USBUS BANCORP DELhistory →COM NEW1.43%$4M133.8K
26JPMJPMORGAN CHASE & COhistory →COM1.41%$4M30.3K
27SYYSYSCO CORPhistory →COM1.37%$4M64.5K
28GPCGENUINE PARTS COhistory →COM1.31%$4M28.1K
29ZBHZIMMER BIOMET HOLDINGS INChistory →COM1.28%$4M35.3K
30GILDGILEAD SCIENCES INChistory →COM1.20%$4M50.0K
31STLDSTEEL DYNAMICS INChistory →COM1.18%$4M34.1K
32PFEPFIZER INChistory →COM1.17%$4M110.1K
33FISVFISERV INChistory →COM1.13%$4M31.3K
34MMM3M COhistory →COM1.06%$3M35.3K
35NEENEXTERA ENERGY INChistory →COM1.06%$3M57.3K
36INTCINTEL CORPhistory →COM1.04%$3M90.9K
37CINFCINCINNATI FINL CORPCOM0.96%$3M29.1K
38VANGUARD MALVERN FDSSTRM INFPROIDX0.92%$3M60.5K
39FFIVF5 INCCOM0.86%$3M16.7K
40WBAWALGREENS BOOTS ALLIANCE INCCOM0.86%$3M120.0K
41VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.86%$3M68.0K
42UPSUNITED PARCEL SERVICE INCCL B0.85%$3M17.0K
43CHVCHEVRON CORP NEWCOM0.79%$2M14.5K
44FLSFLOWSERVE CORPCOM0.74%$2M57.8K
45CARRCARRIER GLOBAL CORPORATIONCOM0.74%$2M41.5K
46BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.67%$2M5.9K
47APDAIR PRODS & CHEMS INCCOM0.61%$2M6.6K
48CORECARD CORPORATIONCOM0.60%$2M92.7K
49DISDISNEY WALT COCOM0.59%$2M22.8K

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 ↗.