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Livermore
Livermore
ZHEN

Willis Investment Counsel

SEC CIK
0001310929
Latest filing
Aug 3, 2026

The latest 13F from Willis Investment Counsel covers Q2 2026 (filed Aug 3, 2026): 125 long positions worth $2.10B. The top 10 holdings make up 28.2% of the portfolio, and the largest is Cisco Systems, Inc. (CSCO) at 5.0%. Livermore has 25 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
7
Est. +$52.4M
Added
72
Est. +$195.5M
Reduced
28
Est. −$27.5M
Sold out
5
Est. −$57.9M

Top 5 holdings

Share of this quarter's portfolio value

  1. CSCOCisco Systems, Inc.
    5.0%$103.9MHistory
  2. JNJJohnson & Johnson
    3.7%$78.6MHistory
  3. TXNTexas Instruments Inc
    3.4%$70.6MHistory
  4. CATCaterpillar Inc
    2.8%$58.1MHistory
  5. CBChubb Ltd
    2.6%$55.5MHistory

Share of portfolio

Top 5 holdings and the other 120 positions, by share of portfolio value

  1. CSCO5.0%
  2. JNJ3.7%
  3. TXN3.4%
  4. CAT2.8%
  5. CB2.6%
  6. Other 120 positions82.5%

Biggest buys

New and added positions, by estimated amount bought

  1. XOMExxonMobil Holdings Corp
    +$33.8MNewHistory
  2. MSIMotorola Solutions, Inc.
    +$13.5MNewHistory
  3. ABTAbbott Laboratories
    +$13.2MAddedHistory
  4. ADBEAdobe Inc.
    +$10.2MAddedHistory
  5. ACNAccenture plc
    +$8.86MAddedHistory

Largest weight increases

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

  1. XOMExxonMobil Holdings Corp
    +1.61 pp0.0% → 1.6%History
  2. CSCOCisco Systems, Inc.
    +1.42 pp3.5% → 5.0%History
  3. CATCaterpillar Inc
    +0.85 pp1.9% → 2.8%History
  4. FTNTFortinet, Inc.
    +0.81 pp0.9% → 1.7%History
  5. MSIMotorola Solutions, Inc.
    +0.65 pp0.0% → 0.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. XOMExxonMobil Holdings Corp
    −$39.0MSold outHistory
  2. Vanguard Morningstar Small-Cap Value ETF922908611
    −$18.2MSold out
  3. GNRCGenerac Holdings Inc.
    −$9.20MReducedHistory
  4. TXNTexas Instruments Inc
    −$8.84MReducedHistory
  5. STRLSterling Infrastructure, Inc.
    −$6.78MReducedHistory

Largest weight decreases

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

  1. XOMExxonMobil Holdings Corp
    −2.13 pp2.1% → 0.0%History
  2. Vanguard Morningstar Small-Cap Value ETF922908611
    −0.99 pp1.0% → 0.0%
  3. TAT&T Inc.
    −0.61 pp1.6% → 1.0%History
  4. VZVerizon Communications Inc
    −0.41 pp1.5% → 1.1%History
  5. SNYSanofi
    −0.36 pp1.6% → 1.2%History

Metrics

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

Portfolio value
$2.10B
+$266.8M (+14.6%) vs. prior quarter
Positions
125
+2 vs. prior quarter
Top 10 concentration
28.2%
Top 10 as share of value
Turnover
4.3%
Q2 2026, one quarter
Average holding period
18.7 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 $2.10B (Q2 2026)

Q1 2021: $1.65BQ2 2021: $1.69BQ3 2021: $1.75BQ4 2021: $1.90BQ1 2022: $1.89BQ2 2022: $1.63BQ3 2022: $1.38BQ4 2022: $1.56BQ1 2023: $1.53BQ2 2023: $1.53BQ3 2023: $1.32BQ4 2023: $1.42BQ1 2024: $1.45BQ2 2024: $1.44BQ3 2024: $1.54BQ4 2024: $1.52BQ1 2025: $1.49BQ2 2025: $1.71BQ3 2025: $1.83BQ4 2025: $1.94BQ1 2026: $1.83BQ2 2026: $2.10B
Q1 2021Q2 2026
13F filings of Willis Investment Counsel by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 3, 2026125$2.10BCSCOJNJTXNvs. Q1 2026SEC
Q1 2026May 5, 2026123$1.83BJNJCSCOLMTvs. Q4 2025SEC
Q4 2025Jan 22, 2026130$1.94BJNJCSCOMSFTvs. Q3 2025SEC
Q3 2025Nov 5, 2025127$1.83BJNJMSFTCSCOvs. Q2 2025SEC
Q2 2025Aug 12, 2025118$1.71BCSCOMSFTJNJvs. Q1 2025SEC
Q1 2025Apr 16, 2025117$1.49BJNJCSCOCBvs. Q4 2024SEC
Q4 2024Jan 24, 2025116$1.52BCSCOJNJTXNvs. Q3 2024SEC
Q3 2024Oct 11, 2024113$1.54BTXNJNJLMTvs. Q2 2024SEC
Q2 2024Jul 24, 2024107$1.44BTXNMSFTJNJvs. Q1 2024SEC
Q1 2024Apr 24, 2024107$1.45BJNJMSFTCSCOvs. Q4 2023SEC
Q4 2023Jan 11, 2024113$1.42BMSFTACNJNJvs. Q3 2023SEC
Q3 2023Mar 7, 2024Amended109$1.32BCSCOJNJACNvs. Q2 2023SEC
Q2 2023Mar 7, 2024Amended110$1.53BJNJMSFTCSCOvs. Q1 2023SEC
Q1 2023Mar 7, 2024Amended110$1.53BTXNMSFTJNJvs. Q4 2022SEC
Q4 2022Jan 18, 2023113$1.56BJNJTXNPFEvs. Q3 2022SEC
Q3 2022Oct 12, 2022111$1.38BJNJTXNACNvs. Q2 2022SEC
Q2 2022Aug 8, 2022115$1.63BJNJACNPFEvs. Q1 2022SEC
Q1 2022May 16, 2022116$1.89BJNJACNMSFTvs. Q4 2021SEC
Q4 2021Feb 14, 2022109$1.90BACNJNJCSCOvs. Q3 2021SEC
Q3 2021Nov 17, 2021110$1.75BJNJCSCOMSFTvs. Q2 2021SEC
Q2 2021Aug 13, 2021114$1.69BJNJCSCOACNvs. Q1 2021SEC
Q1 2021May 17, 2021116$1.65BJNJACNTXN–SEC

13D and 13G filings

Companies where Willis Investment Counsel reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Willis Investment Counsel does not currently report owning 5% or more of any company.

Latest filings

2 filings on file made by Willis Investment Counsel or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Willis Investment Counsel
CompanyFiled (ET)FormStakeChangeEvent dateFiling
PATIPatriot Transportation Holding, Inc.Feb 14, 202213GOld format–––SEC
PATIPatriot Transportation Holding, Inc.Feb 12, 202113GOld format–New–SEC