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Livermore
Livermore
ZHEN

Banque Cantonale Vaudoise

SEC CIK
0001793755
Latest filing
Jul 31, 2026

The latest 13F from Banque Cantonale Vaudoise covers Q2 2026 (filed Jul 31, 2026): 816 long positions worth $2.57B. The top 10 holdings make up 37.8% of the portfolio, and the largest is UBS Group AG (UBS) at 13.8%. Livermore has 21 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
82
Est. +$29.4M
Added
260
Est. +$174.6M
Reduced
372
Est. −$311.9M
Sold out
141
Est. −$347.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. UBSUBS Group AG
    13.8%$355.7MHistory
  2. NVDANVIDIA Corp
    4.5%$114.6MHistory
  3. MSFTMicrosoft Corp
    4.0%$103.7MHistory
  4. ALCAlcon Inc
    3.0%$78.4MHistory
  5. GOOGLAlphabet Inc.
    3.0%$77.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. MSFTMicrosoft Corp
    +$20.2MAddedHistory
  2. AZNAstraZeneca PLC
    +$11.3MNewHistory
  3. AMRZAmrize Ltd
    +$10.4MAddedHistory
  4. JNJJohnson & Johnson
    +$8.83MAddedHistory
  5. iShares Tr464288182
    +$5.40MAdded

Largest weight increases

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

  1. UBSUBS Group AG
    +3.55 pp10.3% → 13.8%History
  2. MSFTMicrosoft Corp
    +0.91 pp3.1% → 4.0%History
  3. AZNAstraZeneca PLC
    +0.44 pp0.0% → 0.4%History
  4. AMRZAmrize Ltd
    +0.43 pp1.9% → 2.3%History
  5. JNJJohnson & Johnson
    +0.38 pp0.5% → 0.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AAPLApple Inc.
    −$85.9MSold outHistory
  2. AMZNAmazon Com Inc
    −$49.2MSold outHistory
  3. AMATApplied Materials Inc
    −$15.5MSold outHistory
  4. GOOGLAlphabet Inc.
    −$14.2MReducedHistory
  5. AMDAdvanced Micro Devices Inc
    −$13.4MSold outHistory

Largest weight decreases

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

  1. AAPLApple Inc.
    −3.23 pp3.2% → 0.0%History
  2. AMZNAmazon Com Inc
    −1.85 pp1.9% → 0.0%History
  3. AMATApplied Materials Inc
    −0.58 pp0.6% → 0.0%History
  4. AMDAdvanced Micro Devices Inc
    −0.50 pp0.5% → 0.0%History
  5. BRK.BBerkshire Hathaway Inc
    −0.47 pp0.5% → 0.0%History

Metrics

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

Portfolio value
$2.57B
−$85.2M (−3.2%) vs. prior quarter
Positions
816
−59 vs. prior quarter
Top 10 concentration
37.8%
Top 10 as share of value
Turnover
7.8%
Q2 2026, one quarter
Average holding period
5.7 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

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

Peak $2.80B (Q4 2025)

Q1 2021: $1.96BQ2 2021: $2.24BQ3 2021: $2.32BQ4 2021: $2.56BQ1 2022: $2.32BQ2 2022: $1.93BQ3 2022: $1.75BQ4 2022: $1.91BQ1 2023: $2.04BQ2 2023: $2.14BQ3 2023: $2.00BQ4 2023: $2.30BQ1 2024: $2.55BQ2 2024: $2.52BQ3 2024: $2.43BQ1 2025: $2.27BQ2 2025: $2.45BQ3 2025: $2.67BQ4 2025: $2.80BQ1 2026: $2.66BQ2 2026: $2.57B
Q1 2021Q2 2026
13F filings of Banque Cantonale Vaudoise by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 31, 2026816$2.57BUBSNVDAMSFTvs. Q1 2026SEC
Q1 2026Apr 20, 2026875$2.66BUBSNVDAAAPLvs. Q4 2025SEC
Q4 2025Feb 6, 2026823$2.80BUBSNVDAAAPLvs. Q3 2025SEC
Q3 2025Nov 13, 2025816$2.67BUBSNVDAAAPLvs. Q2 2025SEC
Q2 2025Aug 11, 2025791$2.45BUBSNVDAMSFTvs. Q1 2025SEC
Q1 2025May 8, 2025833$2.27BUBSALCMSFT–SEC
Q3 2024Nov 8, 2024750$2.43BUBSMSFTNVDAvs. Q2 2024SEC
Q2 2024Jul 31, 2024989$2.52BUBSPMMSFTvs. Q1 2024SEC
Q1 2024Apr 10, 2024987$2.55BUBSPMMSFTvs. Q4 2023SEC
Q4 2023Feb 7, 20241,014$2.30BUBSPMMSFTvs. Q3 2023SEC
Q3 2023Nov 8, 20231,183$2.00BUBSPMALCvs. Q2 2023SEC
Q2 2023Aug 9, 20231,179$2.14BUBSPMMSFTvs. Q1 2023SEC
Q1 2023Apr 20, 20231,183$2.04BUBSPMMSFTvs. Q4 2022SEC
Q4 2022Feb 10, 20231,193$1.91BUBSPMMSFTvs. Q3 2022SEC
Q3 2022Oct 17, 20221,227$1.75BUBSPMAAPLvs. Q2 2022SEC
Q2 2022Aug 2, 20221,279$1.93BUBSPMALCvs. Q1 2022SEC
Q1 2022May 9, 20221,312$2.32BUBSALCPMvs. Q4 2021SEC
Q4 2021Feb 14, 20221,335$2.56BUBSALCMSFTvs. Q3 2021SEC
Q3 2021Oct 29, 20211,284$2.32BUBSMSFTALCvs. Q2 2021SEC
Q2 2021Aug 11, 20211,230$2.24BUBSPMMSFTvs. Q1 2021SEC
Q1 2021May 11, 20211,134$1.96BUBSMSFTAAPL–SEC