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Livermore
Livermore
ZHEN

Papp L Roy & Associates

SEC CIK
0000809339
Latest filing
Jul 23, 2026

The latest 13F from Papp L Roy & Associates covers Q2 2026 (filed Jul 23, 2026): 193 long positions worth $951.4M. The top 10 holdings make up 40.7% of the portfolio, and the largest is Apple Inc. (AAPL) at 6.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
17
Est. +$5.57M
Added
54
Est. +$18.8M
Reduced
66
Est. −$20.3M
Sold out
8
Est. −$2.80M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    6.9%$65.4MHistory
  2. GOOGAlphabet Inc.
    5.6%$52.9MHistory
  3. MSFTMicrosoft Corp
    4.7%$45.0MHistory
  4. VVisa Inc.
    3.7%$35.4MHistory
  5. BLKBlackRock, Inc.
    3.7%$35.1MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. JPMJPMorgan Chase & Co
    +$3.08MAddedHistory
  2. LINLinde PLC
    +$2.65MAddedHistory
  3. MCDMcDonalds Corp
    +$1.62MAddedHistory
  4. WMWaste Management Inc
    +$1.26MAddedHistory
  5. MSFTMicrosoft Corp
    +$1.26MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. JPMJPMorgan Chase & Co
    +0.34 pp1.0% → 1.4%History
  2. ROKRockwell Automation, Inc
    +0.27 pp0.9% → 1.2%History
  3. State Street SPDR S&P Biotech ETF78464A870
    +0.26 pp2.0% → 2.2%
  4. LINLinde PLC
    +0.26 pp0.5% → 0.7%History
  5. ADIAnalog Devices Inc
    +0.22 pp1.3% → 1.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MRVLMarvell Technology, Inc.
    −$3.32MReducedHistory
  2. TROWPrice T Rowe Group Inc
    −$3.22MReducedHistory
  3. GOOGAlphabet Inc.
    −$2.27MReducedHistory
  4. CSCOCisco Systems, Inc.
    −$1.64MReducedHistory
  5. State Street Technology Select Sector SPDR ETF81369Y803
    −$1.56MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ACNAccenture plc
    −1.14 pp2.5% → 1.4%History
  2. EOGEOG Resources Inc
    −0.56 pp3.0% → 2.4%History
  3. XOMExxonMobil Holdings Corp
    −0.56 pp1.8% → 1.2%History
  4. COSTCostco Wholesale Corp
    −0.40 pp2.7% → 2.3%History
  5. ORLYO Reilly Automotive Inc
    −0.33 pp3.5% → 3.2%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$951.4M
+$84.0M (+9.7%) vs. prior quarter
Positions
193
+9 vs. prior quarter
Top 10 concentration
40.7%
Top 10 as share of value
Turnover
2.5%
Q2 2026, one quarter
Average holding period
20.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $951.4M (Q2 2026)

Q1 2021: $696.8MQ2 2021: $792.0MQ3 2021: $786.9MQ4 2021: $873.6MQ1 2022: $801.0MQ2 2022: $689.7MQ3 2022: $661.3MQ4 2022: $712.6MQ1 2023: $740.2MQ2 2023: $778.2MQ3 2023: $738.0MQ4 2023: $805.6MQ1 2024: $840.1MQ2 2024: $825.2MQ3 2024: $826.2MQ4 2024: $856.6MQ1 2025: $815.2MQ2 2025: $841.8MQ3 2025: $889.6MQ4 2025: $904.5MQ1 2026: $867.4MQ2 2026: $951.4M
Q1 2021Q2 2026
13F filings of Papp L Roy & Associates by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 23, 2026193$951.4MAAPLGOOGMSFTvs. Q1 2026SEC
Q1 2026Apr 14, 2026184$867.4MAAPLGOOGMSFTvs. Q4 2025SEC
Q4 2025Jan 28, 2026185$904.5MAAPLMSFTGOOGvs. Q3 2025SEC
Q3 2025Oct 9, 2025182$889.6MMSFTAAPLBLKvs. Q2 2025SEC
Q2 2025Jul 24, 2025180$841.8MMSFTAAPLBLKvs. Q1 2025SEC
Q1 2025Apr 10, 2025174$815.2MAAPLMSFTVvs. Q4 2024SEC
Q4 2024Jan 29, 2025178$856.6MAAPLMSFTBLKvs. Q3 2024SEC
Q3 2024Oct 24, 2024177$826.2MAAPLMSFTACNvs. Q2 2024SEC
Q2 2024Jul 24, 2024172$825.2MAAPLMSFTACNvs. Q1 2024SEC
Q1 2024Apr 15, 2024176$840.1MMSFTAAPLACNvs. Q4 2023SEC
Q4 2023Jan 19, 2024174$805.6MAAPLMSFTACNvs. Q3 2023SEC
Q3 2023Oct 19, 2023165$738.0MAAPLMSFTACNvs. Q2 2023SEC
Q2 2023Jul 17, 2023169$778.2MAAPLMSFTACNvs. Q1 2023SEC
Q1 2023May 5, 2023168$740.2MAAPLMSFTACNvs. Q4 2022SEC
Q4 2022Jan 17, 2023166$712.6MAAPLMSFTACNvs. Q3 2022SEC
Q3 2022Oct 21, 2022162$661.3MAAPLMSFTACNvs. Q2 2022SEC
Q2 2022Aug 2, 2022168$689.7MAAPLMSFTACNvs. Q1 2022SEC
Q1 2022May 6, 2022172$801.0MAAPLMSFTACNvs. Q4 2021SEC
Q4 2021Feb 11, 2022175$873.6MAAPLACNMSFTvs. Q3 2021SEC
Q3 2021Nov 9, 2021170$786.9MAAPLMSFTACNvs. Q2 2021SEC
Q2 2021Aug 9, 2021172$792.0MAAPLMSFTACNvs. Q1 2021SEC
Q1 2021May 6, 2021167$696.8MAAPLMSFTACN–SEC