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Livermore
Livermore
ZHEN

Agate Pass Investment Management, LLC

SEC CIK
0001900409
Latest filing
Jul 8, 2026

The latest 13F from Agate Pass Investment Management, LLC covers Q2 2026 (filed Jul 8, 2026): 109 long positions worth $271.2M. The top 10 holdings make up 41.0% of the portfolio, and the largest is Alphabet Inc. (GOOGL) at 5.8%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 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
8
Est. +$2.00M
Added
16
Est. +$5.28M
Reduced
66
Est. −$18.8M
Sold out
4
Est. −$958.1K

Top 5 holdings

Share of this quarter's portfolio value

  1. GOOGLAlphabet Inc.
    5.8%$15.6MHistory
  2. AAPLApple Inc.
    5.0%$13.7MHistory
  3. ABBVAbbVie Inc.
    5.0%$13.7MHistory
  4. Vanguard S&P 500 ETF922908363
    4.8%$13.1M
  5. Vanguard Morningstar Small-Cap ETF922908751
    4.6%$12.5M

Share of portfolio

Top 5 holdings and the other 104 positions, by share of portfolio value

  1. GOOGL5.8%
  2. AAPL5.0%
  3. ABBV5.0%
  4. Vanguard S&P 500 ETF4.8%
  5. Vanguard Morningstar Small-Cap ETF4.6%
  6. Other 104 positions74.7%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr464288646
    +$1.54MAdded
  2. iShares Tr464288638
    +$871.6KAdded
  3. Vanguard S&P 500 ETF922908363
    +$844.1KAdded
  4. Vanguard Mun BD FDS922907746
    +$414.3KAdded
  5. State Street Technology Select Sector SPDR ETF81369Y803
    +$336.1KAdded

Largest weight increases

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

  1. State Street Technology Select Sector SPDR ETF81369Y803
    +0.75 pp1.8% → 2.5%
  2. Vanguard S&P 500 ETF922908363
    +0.66 pp4.2% → 4.8%
  3. iShares Tr464288646
    +0.47 pp1.6% → 2.1%
  4. iShares Tr464288638
    +0.22 pp1.8% → 2.0%
  5. Vanguard Mun BD FDS922907746
    +0.13 pp0.5% → 0.6%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ABBVAbbVie Inc.
    −$3.21MReducedHistory
  2. GOOGLAlphabet Inc.
    −$1.91MReducedHistory
  3. Vanguard Morningstar Growth ETF922908736
    −$1.48MReducedConverted for a 6-for-1 split
  4. AAPLApple Inc.
    −$1.03MReducedHistory
  5. JPMJPMorgan Chase & Co
    −$822.6KReducedHistory

Largest weight decreases

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

  1. ABBVAbbVie Inc.
    −0.67 pp5.7% → 5.0%History
  2. CVXChevron Corp
    −0.49 pp1.2% → 0.7%History
  3. XOMExxonMobil Holdings Corp
    −0.39 pp1.1% → 0.7%History
  4. MSFTMicrosoft Corp
    −0.37 pp3.9% → 3.6%History
  5. DISWalt Disney Co
    −0.32 pp0.5% → 0.2%History

Metrics

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

Portfolio value
$271.2M
+$15.8M (+6.2%) vs. prior quarter
Positions
109
+4 vs. prior quarter
Top 10 concentration
41.0%
Top 10 as share of value
Turnover
2.8%
Q2 2026, one quarter
Average holding period
17.0 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 (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $271.2M (Q2 2026)

Q4 2021: $160.8MQ1 2022: $160.2MQ2 2022: $142.0MQ3 2022: $131.1MQ4 2022: $141.4MQ1 2023: $152.9MQ2 2023: $164.8MQ3 2023: $147.6MQ4 2023: $172.5MQ1 2024: $186.4MQ2 2024: $188.0MQ3 2024: $200.4MQ4 2024: $221.2MQ1 2025: $233.8MQ2 2025: $243.5MQ3 2025: $262.8MQ4 2025: $269.2MQ1 2026: $255.5MQ2 2026: $271.2M
Q4 2021Q2 2026
13F filings of Agate Pass Investment Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 8, 2026109$271.2MGOOGLAAPLABBVvs. Q1 2026SEC
Q1 2026Apr 7, 2026105$255.5MABBVGOOGLAAPLvs. Q4 2025SEC
Q4 2025Jan 8, 2026106$269.2MGOOGLABBVAAPLvs. Q3 2025SEC
Q3 2025Oct 8, 2025103$262.8MABBVMSFTAAPLvs. Q2 2025SEC
Q2 2025Jul 24, 2025107$243.5MABBVMSFTVanguard Morningstar Small-Cap ETFvs. Q1 2025SEC
Q1 2025Apr 4, 2025107$233.8MABBVAAPLVanguard Morningstar Small-Cap ETFvs. Q4 2024SEC
Q4 2024Jan 13, 2025107$221.2MVanguard Morningstar Small-Cap ETFAAPLABBVvs. Q3 2024SEC
Q3 2024Oct 9, 202494$200.4MABBVVanguard Morningstar Small-Cap ETFAAPLvs. Q2 2024SEC
Q2 2024Jul 16, 202494$188.0MABBVMSFTVanguard Morningstar Small-Cap ETFvs. Q1 2024SEC
Q1 2024Apr 15, 202495$186.4MABBVVanguard Morningstar Small-Cap ETFMSFTvs. Q4 2023SEC
Q4 2023Jan 8, 202497$172.5MVanguard Morningstar Small-Cap ETFABBVMSFTvs. Q3 2023SEC
Q3 2023Oct 13, 202384$147.6MABBVVanguard Morningstar Small-Cap ETFAAPLvs. Q2 2023SEC
Q2 2023Jul 31, 202393$164.8MAAPLVanguard Morningstar Small-Cap ETFMSFTvs. Q1 2023SEC
Q1 2023May 11, 202394$152.9MABBVAAPLVanguard Morningstar Small-Cap ETFvs. Q4 2022SEC
Q4 2022Feb 6, 202394$141.4MABBVABTVanguard Morningstar Small-Cap ETFvs. Q3 2022SEC
Q3 2022Oct 14, 202289$131.1MABBVABTAAPLvs. Q2 2022SEC
Q2 2022Aug 9, 202292$142.0MABBVABTiShares Trvs. Q1 2022SEC
Q1 2022Apr 28, 202293$160.2MABBVABTAAPLvs. Q4 2021SEC
Q4 2021Jan 21, 202299$160.8MABTVanguard Morningstar Small-Cap ETFAAPL–SEC