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Livermore
Livermore
ZHEN

Chesley Taft & Associates LLC

SEC CIK
0001164632
Latest filing
Jul 8, 2026

The latest 13F from Chesley Taft & Associates LLC covers Q2 2026 (filed Jul 8, 2026): 369 long positions worth $2.57B. The top 10 holdings make up 31.2% of the portfolio, and the largest is Alphabet Inc. (GOOG) at 5.8%. 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
18
Est. +$10.1M
Added
153
Est. +$49.7M
Reduced
154
Est. −$56.5M
Sold out
19
Est. −$34.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. GOOGAlphabet Inc.
    5.8%$147.9MHistory
  2. NVDANVIDIA Corp
    3.6%$93.0MHistory
  3. AAPLApple Inc.
    3.2%$82.3MHistory
  4. AMZNAmazon Com Inc
    3.2%$81.0MHistory
  5. MSFTMicrosoft Corp
    3.2%$81.0MHistory

Share of portfolio

Top 5 holdings and the other 364 positions, by share of portfolio value

  1. GOOG5.8%
  2. NVDA3.6%
  3. AAPL3.2%
  4. AMZN3.2%
  5. MSFT3.2%
  6. Other 364 positions81.1%

Biggest buys

New and added positions, by estimated amount bought

  1. CRMSalesforce, Inc.
    +$6.56MAddedHistory
  2. MUMicron Technology Inc
    +$3.99MAddedHistory
  3. ABTAbbott Laboratories
    +$3.36MAddedHistory
  4. UBERUber Technologies, Inc
    +$3.25MAddedHistory
  5. AMDAdvanced Micro Devices Inc
    +$2.93MNewHistory

Largest weight increases

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

  1. MUMicron Technology Inc
    +0.25 pp<0.1% → 0.3%History
  2. iShares Core S&P Small Cap ETF464287804
    +0.22 pp1.9% → 2.1%
  3. DELLDell Technologies Inc.
    +0.20 pp0.1% → 0.3%History
  4. AMZNAmazon Com Inc
    +0.20 pp3.0% → 3.2%History
  5. CRMSalesforce, Inc.
    +0.18 pp0.3% → 0.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$22.4MSold outHistory
  2. MSFTMicrosoft Corp
    −$7.80MReducedHistory
  3. TSCOTractor Supply Co
    −$5.18MSold outHistory
  4. CDNSCadence Design Systems Inc
    −$3.89MReducedHistory
  5. PANWPalo Alto Networks Inc
    −$3.56MReducedHistory

Largest weight decreases

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

  1. HONHoneywell International Inc
    −0.94 pp0.9% → 0.0%History
  2. MSFTMicrosoft Corp
    −0.53 pp3.7% → 3.2%History
  3. COSTCostco Wholesale Corp
    −0.40 pp2.8% → 2.4%History
  4. GLDSPDR Gold Trust
    −0.38 pp1.7% → 1.3%History
  5. ACNAccenture plc
    −0.38 pp0.8% → 0.4%History

Metrics

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

Portfolio value
$2.57B
+$176.2M (+7.4%) vs. prior quarter
Positions
369
−1 vs. prior quarter
Top 10 concentration
31.2%
Top 10 as share of value
Turnover
2.4%
Q2 2026, one quarter
Average holding period
20.0 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 $2.57B (Q2 2026)

Q1 2021: $1.67BQ2 2021: $1.74BQ3 2021: $1.75BQ4 2021: $1.93BQ1 2022: $1.71BQ2 2022: $1.47BQ3 2022: $1.36BQ4 2022: $1.45BQ1 2023: $1.52BQ2 2023: $1.63BQ3 2023: $1.54BQ4 2023: $1.78BQ1 2024: $1.96BQ2 2024: $1.99BQ3 2024: $2.10BQ4 2024: $2.15BQ1 2025: $2.07BQ2 2025: $2.24BQ3 2025: $2.36BQ4 2025: $2.53BQ1 2026: $2.39BQ2 2026: $2.57B
Q1 2021Q2 2026
13F filings of Chesley Taft & Associates LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 8, 2026369$2.57BGOOGNVDAAAPLvs. Q1 2026SEC
Q1 2026Apr 13, 2026370$2.39BGOOGMSFTNVDAvs. Q4 2025SEC
Q4 2025Jan 14, 2026371$2.53BGOOGMSFTNVDAvs. Q3 2025SEC
Q3 2025Oct 8, 2025348$2.36BMSFTGOOGNVDAvs. Q2 2025SEC
Q2 2025Jul 9, 2025334$2.24BMSFTGOOGAVGOvs. Q1 2025SEC
Q1 2025Apr 10, 2025330$2.07BMSFTGOOGAAPLvs. Q4 2024SEC
Q4 2024Jan 17, 2025326$2.15BMSFTGOOGAVGOvs. Q3 2024SEC
Q3 2024Oct 7, 2024323$2.10BMSFTGOOGAAPLvs. Q2 2024SEC
Q2 2024Jul 19, 2024309$1.99BMSFTGOOGAAPLvs. Q1 2024SEC
Q1 2024Apr 16, 2024311$1.96BMSFTGOOGAAPLvs. Q4 2023SEC
Q4 2023Jan 11, 2024301$1.78BMSFTAAPLGOOGvs. Q3 2023SEC
Q3 2023Oct 11, 2023289$1.54BMSFTGOOGAAPLvs. Q2 2023SEC
Q2 2023Jul 18, 2023291$1.63BMSFTAAPLGOOGvs. Q1 2023SEC
Q1 2023Apr 11, 2023286$1.52BMSFTAAPLGOOGvs. Q4 2022SEC
Q4 2022Jan 20, 2023284$1.45BMSFTAAPLPEPvs. Q3 2022SEC
Q3 2022Oct 13, 2022279$1.36BMSFTAAPLGOOGvs. Q2 2022SEC
Q2 2022Jul 7, 2022286$1.47BMSFTGOOGAAPLvs. Q1 2022SEC
Q1 2022Apr 14, 2022294$1.71BMSFTGOOGAAPLvs. Q4 2021SEC
Q4 2021Jan 5, 2022300$1.93BMSFTGOOGAAPLvs. Q3 2021SEC
Q3 2021Oct 5, 2021298$1.75BMSFTGOOGAMZNvs. Q2 2021SEC
Q2 2021Jul 7, 2021294$1.74BMSFTGOOGAMZNvs. Q1 2021SEC
Q1 2021Apr 6, 2021288$1.67BMSFTGOOGAMZN–SEC