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Livermore
Livermore
ZHEN

Bull Street Advisors, LLC

SEC CIK
0001790837
Latest filing
Jul 28, 2026

The latest 13F from Bull Street Advisors, LLC covers Q2 2026 (filed Jul 28, 2026): 95 long positions worth $219.0M. The top 10 holdings make up 36.8% of the portfolio, and the largest is Johnson & Johnson (JNJ) at 5.3%. 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
3
Est. +$4.86M
Added
22
Est. +$2.11M
Reduced
39
Est. −$4.89M
Sold out
2
Est. −$3.35M

Top 5 holdings

Share of this quarter's portfolio value

  1. JNJJohnson & Johnson
    5.3%$11.5MHistory
  2. AAPLApple Inc.
    5.1%$11.1MHistory
  3. TJXTJX Companies Inc
    4.8%$10.4MHistory
  4. KOCoca Cola Co
    3.8%$8.27MHistory
  5. COSTCostco Wholesale Corp
    3.4%$7.40MHistory

Share of portfolio

Top 5 holdings and the other 90 positions, by share of portfolio value

  1. JNJ5.3%
  2. AAPL5.1%
  3. TJX4.8%
  4. KO3.8%
  5. COST3.4%
  6. Other 90 positions77.8%

Biggest buys

New and added positions, by estimated amount bought

  1. HNVRHanover Bancorp, Inc.
    +$1.79MNewHistory
  2. HONHoneywell International Inc
    +$1.54MNewHistory
  3. HONAHoneywell Aerospace Inc.
    +$1.52MNewHistory
  4. AAPLApple Inc.
    +$413.2KAddedHistory
  5. MSFTMicrosoft Corp
    +$278.3KAddedHistory

Largest weight increases

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

  1. HNVRHanover Bancorp, Inc.
    +0.82 pp0.0% → 0.8%History
  2. HONHoneywell International Inc
    +0.71 pp0.0% → 0.7%History
  3. HONAHoneywell Aerospace Inc.
    +0.70 pp0.0% → 0.7%History
  4. CSCOCisco Systems, Inc.
    +0.57 pp1.4% → 2.0%History
  5. AAPLApple Inc.
    +0.43 pp4.6% → 5.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$3.12MSold outHistory
  2. Vanguard Scottsdale FDS92206C102
    −$818.2KReduced
  3. GOOGLAlphabet Inc.
    −$583.9KReducedHistory
  4. FISVFiserv Inc
    −$547.2KReducedHistory
  5. iShares Tr464288158
    −$537.8KReduced

Largest weight decreases

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

  1. HONHoneywell International Inc
    −1.54 pp1.5% → 0.0%History
  2. Vanguard Scottsdale FDS92206C102
    −0.70 pp3.9% → 3.2%
  3. Vanguard Short-Term Bond ETF921937827
    −0.41 pp3.6% → 3.2%
  4. FISVFiserv Inc
    −0.39 pp0.7% → 0.4%History
  5. JNJJohnson & Johnson
    −0.32 pp5.6% → 5.3%History

Metrics

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

Portfolio value
$219.0M
+$17.1M (+8.5%) vs. prior quarter
Positions
95
+1 vs. prior quarter
Top 10 concentration
36.8%
Top 10 as share of value
Turnover
3.3%
Q2 2026, one quarter
Average holding period
21.1 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 $219.0M (Q2 2026)

Q1 2021: $177.2MQ2 2021: $187.3MQ3 2021: $194.0MQ4 2021: $209.8MQ1 2022: $205.7MQ2 2022: $187.0MQ3 2022: $177.8MQ4 2022: $192.8MQ1 2023: $192.8MQ2 2023: $195.0MQ3 2023: $189.0MQ4 2023: $197.6MQ1 2024: $208.9MQ2 2024: $207.3MQ3 2024: $215.5MQ4 2024: $207.4MQ1 2025: $208.7MQ2 2025: $208.0MQ3 2025: $214.2MQ4 2025: $215.1MQ1 2026: $201.9MQ2 2026: $219.0M
Q1 2021Q2 2026
13F filings of Bull Street Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 202695$219.0MJNJAAPLTJXvs. Q1 2026SEC
Q1 2026Apr 24, 202694$201.9MJNJAAPLKOvs. Q4 2025SEC
Q4 2025Jan 28, 202692$215.1MTJXAAPLJNJvs. Q3 2025SEC
Q3 2025Oct 28, 202589$214.2MTJXAAPLMSFTvs. Q2 2025SEC
Q2 2025Jul 25, 202589$208.0MTJXMSFTVanguard Short-Term Bond ETFvs. Q1 2025SEC
Q1 2025Apr 24, 202589$208.7MTJXAAPLVanguard Short-Term Bond ETFvs. Q4 2024SEC
Q4 2024Jan 30, 202589$207.4MAAPLTJXVanguard Short-Term Bond ETFvs. Q3 2024SEC
Q3 2024Nov 4, 202491$215.5MAAPLVanguard Short-Term Bond ETFTJXvs. Q2 2024SEC
Q2 2024Jul 26, 202491$207.3MVanguard Short-Term Bond ETFAAPLVanguard Scottsdale FDSvs. Q1 2024SEC
Q1 2024Apr 29, 202492$208.9MVanguard Short-Term Bond ETFVanguard Scottsdale FDSJNJvs. Q4 2023SEC
Q4 2023Jan 29, 202489$197.6MVanguard Short-Term Bond ETFVanguard Scottsdale FDSAAPLvs. Q3 2023SEC
Q3 2023Oct 30, 202390$189.0MVanguard Scottsdale FDSVanguard Short-Term Bond ETFJNJvs. Q2 2023SEC
Q2 2023Jul 28, 202390$195.0MVanguard Scottsdale FDSVanguard Short-Term Bond ETFJNJvs. Q1 2023SEC
Q1 2023Apr 26, 202389$192.8MVanguard Scottsdale FDSVanguard Short-Term Bond ETFJNJvs. Q4 2022SEC
Q4 2022Feb 28, 202390$192.8MVanguard Scottsdale FDSVanguard Short-Term Bond ETFJNJvs. Q3 2022SEC
Q3 2022Nov 8, 202289$177.8MVanguard Short-Term Bond ETFVanguard Scottsdale FDSJNJvs. Q2 2022SEC
Q2 2022Aug 3, 202291$187.0MVanguard Short-Term Bond ETFVanguard Scottsdale FDSJNJvs. Q1 2022SEC
Q1 2022May 10, 202294$205.7MVanguard Short-Term Bond ETFVanguard Scottsdale FDSJNJvs. Q4 2021SEC
Q4 2021Feb 3, 202295$209.8MVanguard Short-Term Bond ETFVanguard Scottsdale FDSJNJvs. Q3 2021SEC
Q3 2021Nov 5, 202194$194.0MVanguard Short-Term Bond ETFVanguard Scottsdale FDSJNJvs. Q2 2021SEC
Q2 2021Jul 29, 202194$187.3MVanguard Scottsdale FDSJNJVanguard Short-Term Bond ETFvs. Q1 2021SEC
Q1 2021May 11, 202193$177.2MVanguard Scottsdale FDSJNJiShares Tips Bond ETF–SEC