Skip to main content
Livermore
Livermore
ZHEN

Constitution Capital LLC

SEC CIK
0001845531
Latest filing
Jul 9, 2026

The latest 13F from Constitution Capital LLC covers Q2 2026 (filed Jul 9, 2026): 62 long positions worth $194.8M. The top 10 holdings make up 56.6% of the portfolio, and the largest is Microsoft Corp (MSFT) at 13.5%. 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. +$3.18M
Added
6
Est. +$9.69M
Reduced
34
Est. −$29.2M
Sold out
4
Est. −$1.43M

Top 5 holdings

Share of this quarter's portfolio value

  1. MSFTMicrosoft Corp
    13.5%$26.2MHistory
  2. JPMJPMorgan Chase & Co
    6.4%$12.5MHistory
  3. LLYEli Lilly & Co
    5.5%$10.7MHistory
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    4.8%$9.41M
  5. WMTWalmart Inc.
    4.7%$9.07MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. LLYEli Lilly & Co
    +$9.25MAddedHistory
  2. GOOGAlphabet Inc.
    +$2.00MNewHistory
  3. AMDAdvanced Micro Devices Inc
    +$435.7KNewHistory
  4. CSCOCisco Systems, Inc.
    +$252.5KNewHistory
  5. ASMLASML Holding NV
    +$248.7KNewHistory

Largest weight increases

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

  1. LLYEli Lilly & Co
    +4.94 pp0.6% → 5.5%History
  2. GOOGAlphabet Inc.
    +1.03 pp0.0% → 1.0%History
  3. MSFTMicrosoft Corp
    +0.58 pp12.9% → 13.5%History
  4. CATCaterpillar Inc
    +0.47 pp0.8% → 1.3%History
  5. AMDAdvanced Micro Devices Inc
    +0.22 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. COSTCostco Wholesale Corp
    −$6.85MReducedHistory
  2. JNJJohnson & Johnson
    −$4.49MReducedHistory
  3. AEPAmerican Electric Power Co Inc
    −$2.68MReducedHistory
  4. NEENextera Energy Inc
    −$2.60MReducedHistory
  5. KOCoca Cola Co
    −$2.16MReducedHistory

Largest weight decreases

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

  1. COSTCostco Wholesale Corp
    −3.69 pp4.9% → 1.2%History
  2. JNJJohnson & Johnson
    −1.90 pp6.0% → 4.1%History
  3. NEENextera Energy Inc
    −1.49 pp5.4% → 3.9%History
  4. WMTWalmart Inc.
    −1.24 pp5.9% → 4.7%History
  5. AEPAmerican Electric Power Co Inc
    −1.18 pp2.7% → 1.5%History

Metrics

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

Portfolio value
$194.8M
−$5.29M (−2.6%) vs. prior quarter
Positions
62
+1 vs. prior quarter
Top 10 concentration
56.6%
Top 10 as share of value
Turnover
6.5%
Q2 2026, one quarter
Average holding period
20.2 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 $213.9M (Q3 2025)

Q1 2021: $151.3MQ2 2021: $163.3MQ3 2021: $166.6MQ4 2021: $187.6MQ1 2022: $182.5MQ2 2022: $156.0MQ3 2022: $149.5MQ4 2022: $161.9MQ1 2023: $164.9MQ2 2023: $175.7MQ3 2023: $146.8MQ4 2023: $165.7MQ1 2024: $177.1MQ2 2024: $189.5MQ3 2024: $187.3MQ4 2024: $178.2MQ1 2025: $180.6MQ2 2025: $196.0MQ3 2025: $213.9MQ4 2025: $211.5MQ1 2026: $200.1MQ2 2026: $194.8M
Q1 2021Q2 2026
13F filings of Constitution Capital LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 202662$194.8MMSFTJPMLLYvs. Q1 2026SEC
Q1 2026Apr 9, 202661$200.1MMSFTJNJJPMvs. Q4 2025SEC
Q4 2025Jan 9, 202664$211.5MMSFTJPMWMTvs. Q3 2025SEC
Q3 2025Oct 17, 202561$213.9MMSFTJPMHDvs. Q2 2025SEC
Q2 2025Aug 13, 202556$196.0MMSFTJPMWMTvs. Q1 2025SEC
Q1 2025Apr 11, 202560$180.6MMSFTJPMHDvs. Q4 2024SEC
Q4 2024Jan 15, 202556$178.2MMSFTJPMAAPLvs. Q3 2024SEC
Q3 2024Oct 11, 202459$187.3MMSFTJPMPEPvs. Q2 2024SEC
Q2 2024Jul 12, 202464$189.5MMSFTPEPJPMvs. Q1 2024SEC
Q1 2024Apr 15, 202460$177.1MMSFTPEPJPMvs. Q4 2023SEC
Q4 2023Jan 12, 202463$165.7MMSFTPEPAAPLvs. Q3 2023SEC
Q3 2023Oct 11, 202361$146.8MMSFTPEPAAPLvs. Q2 2023SEC
Q2 2023Jul 12, 202366$175.7MMSFTPEPAAPLvs. Q1 2023SEC
Q1 2023May 10, 202367$164.9MMSFTPEPAAPLvs. Q4 2022SEC
Q4 2022Feb 9, 202366$161.9MMSFTPEPJPMvs. Q3 2022SEC
Q3 2022Nov 14, 202263$149.5MMSFTPEPNEEvs. Q2 2022SEC
Q2 2022Aug 12, 202261$156.0MMSFTPEPHDvs. Q1 2022SEC
Q1 2022May 16, 202268$182.5MMSFTPEPAAPLvs. Q4 2021SEC
Q4 2021Feb 8, 202265$187.6MMSFTPEPHDvs. Q3 2021SEC
Q3 2021Nov 15, 202167$166.6MMSFTPEPJPMvs. Q2 2021SEC
Q2 2021Aug 12, 202168$163.3MMSFTPEPJPMvs. Q1 2021SEC
Q1 2021May 4, 202162$151.3MMSFTPEPJPM–SEC