Skip to main content
Livermore
Livermore
ZHEN

Tandem Investment Advisors, Inc.

SEC CIK
0001694284
Latest filing
Jul 31, 2026

The latest 13F from Tandem Investment Advisors, Inc. covers Q2 2026 (filed Jul 31, 2026): 68 long positions worth $1.49B. The top 10 holdings make up 44.6% of the portfolio, and the largest is Amphenol Corp (APH) at 6.2%. 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
5
Est. +$73.6M
Added
2
Est. +$18.7M
Reduced
60
Est. −$461.1M
Sold out
20
Est. −$99.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. APHAmphenol Corp
    6.2%$92.1MHistory
  2. NEENextera Energy Inc
    5.2%$77.3MHistory
  3. ICEIntercontinental Exchange, Inc.
    4.4%$66.4MHistory
  4. TRNOTerreno Realty Corp
    4.4%$65.9MHistory
  5. MSFTMicrosoft Corp
    4.4%$65.0MHistory

Share of portfolio

Top 5 holdings and the other 63 positions, by share of portfolio value

  1. APH6.2%
  2. NEE5.2%
  3. ICE4.4%
  4. TRNO4.4%
  5. MSFT4.4%
  6. Other 63 positions75.4%

Biggest buys

New and added positions, by estimated amount bought

  1. PEPPepsiCo Inc
    +$26.2MNewHistory
  2. ROLRollins Inc
    +$25.7MNewHistory
  3. CTASCintas Corp
    +$20.0MNewHistory
  4. MCDMcDonalds Corp
    +$13.7MAddedHistory
  5. NDAQNasdaq, Inc.
    +$4.97MAddedHistory

Largest weight increases

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

  1. PEPPepsiCo Inc
    +1.75 pp0.0% → 1.8%History
  2. ROLRollins Inc
    +1.72 pp0.0% → 1.7%History
  3. CTASCintas Corp
    +1.34 pp0.0% → 1.3%History
  4. MCDMcDonalds Corp
    +1.17 pp1.3% → 2.5%History
  5. NDAQNasdaq, Inc.
    +0.52 pp0.7% → 1.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GGenpact LTD
    −$94.3MSold outHistory
  2. ADPAutomatic Data Processing Inc
    −$36.2MReducedHistory
  3. APHAmphenol Corp
    −$27.6MReducedHistory
  4. BDXBecton Dickinson & Co
    −$22.4MReducedHistory
  5. ICEIntercontinental Exchange, Inc.
    −$22.2MReducedHistory

Largest weight decreases

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

  1. GGenpact LTD
    −4.62 pp4.6% → 0.0%History
  2. ADPAutomatic Data Processing Inc
    −1.60 pp1.6% → <0.1%History
  3. ZTSZoetis Inc.
    −1.54 pp3.9% → 2.4%History
  4. INTUIntuit Inc.
    −1.12 pp2.9% → 1.8%History
  5. ICEIntercontinental Exchange, Inc.
    −1.10 pp5.6% → 4.4%History

Metrics

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

Portfolio value
$1.49B
−$546.9M (−26.8%) vs. prior quarter
Positions
68
−15 vs. prior quarter
Top 10 concentration
44.6%
Top 10 as share of value
Turnover
5.2%
Q2 2026, one quarter
Average holding period
17.4 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 $2.93B (Q3 2025)

Q1 2021: $1.04BQ2 2021: $1.17BQ3 2021: $1.22BQ4 2021: $1.54BQ1 2022: $1.63BQ2 2022: $1.70BQ3 2022: $1.76BQ4 2022: $1.94BQ1 2023: $2.09BQ2 2023: $2.28BQ3 2023: $2.37BQ4 2023: $2.50BQ1 2024: $2.58BQ2 2024: $2.51BQ3 2024: $2.64BQ4 2024: $2.64BQ1 2025: $2.87BQ2 2025: $2.86BQ3 2025: $2.93BQ4 2025: $2.69BQ1 2026: $2.04BQ2 2026: $1.49B
Q1 2021Q2 2026
13F filings of Tandem Investment Advisors, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 31, 202668$1.49BAPHNEEICEvs. Q1 2026SEC
Q1 2026May 7, 202683$2.04BICENEERMDvs. Q4 2025SEC
Q4 2025Feb 9, 202683$2.69BVICEGvs. Q3 2025SEC
Q3 2025Nov 3, 202580$2.93BAPHVICEvs. Q2 2025SEC
Q2 2025Jul 31, 202569$2.86BVICEABTvs. Q1 2025SEC
Q1 2025Apr 28, 202570$2.87BCBOEVICEvs. Q4 2024SEC
Q4 2024Feb 3, 202584$2.64BCBOEVICEvs. Q3 2024SEC
Q3 2024Oct 31, 202487$2.64BCBOERMDICEvs. Q2 2024SEC
Q2 2024Aug 1, 202481$2.51BCBOEVICEvs. Q1 2024SEC
Q1 2024Apr 30, 202488$2.58BCBOEVFDSvs. Q4 2023SEC
Q4 2023Jan 31, 202481$2.50BCBOEFDSVvs. Q3 2023SEC
Q3 2023Oct 30, 202381$2.37BCBOEFDSCMCSAvs. Q2 2023SEC
Q2 2023Jul 19, 202375$2.28BABTCBOEFDSvs. Q1 2023SEC
Q1 2023Jul 19, 202379$2.09BABBVCBOEFDSvs. Q4 2022SEC
Q4 2022Feb 6, 202388$1.94BABBVCBOEABTvs. Q3 2022SEC
Q3 2022Oct 31, 202282$1.76BFDSABBVCBOEvs. Q2 2022SEC
Q2 2022Sep 14, 202277$1.70BABBVFDSABTvs. Q1 2022SEC
Q1 2022May 2, 202271$1.63BFDSABBVABTvs. Q4 2021SEC
Q4 2021Jan 20, 202283$1.54BFDSABTCBOEvs. Q3 2021SEC
Q3 2021Oct 15, 202178$1.22BFDSABTCBOEvs. Q2 2021SEC
Q2 2021Jul 12, 202174$1.17BTROWABTFDSvs. Q1 2021SEC
Q1 2021Apr 13, 202167$1.04BABTTROWFDS–SEC