Chesley Taft & Associates LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 8, 2025), Chesley Taft & Associates LLC reported 348 stock positions worth $2.4 billion. Its top holding was Microsoft (MSFT) at 5.0% of the portfolio, followed by Alphabet Class C (GOOG, 4.4%) and Nvidia (NVDA, 3.6%). Compared with Q2 2025, it opened 22 new positions, sold out of 8, added to 111 and reduced 151. The biggest buy was a new position in Capital One Financial (COF) and the biggest sale Zoetis (ZTS, shares −61%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001164632
- Portfolio Value
- $2.4B (Q3 2025)
- SEC Filing
- 0001085146-25-005836 ↗ filed Oct 8, 2025
Holdings Value
Holdings 348 stocks · $2.4B
| MSFT Microsoft Corp. | 4.96% | 225,772 | $116.9M | Reduce -2.5% |
| GOOG Alphabet Inc. Class C | 4.41% | 427,512 | $104.1M | Reduce -3.5% |
| NVDA Nvidia Corp. | 3.65% | 461,186 | $86.0M | Reduce -1.5% |
| AVGO Broadcom Inc. | 3.57% | 255,036 | $84.1M | Reduce -5.6% |
| AAPL Apple Inc. | 3.09% | 286,657 | $73.0M | Add +1.5% |
| AMZN Amazon.com Inc. | 2.84% | 305,209 | $67.0M | Reduce -0.8% |
| COST Costco Wholesale Corp. | 2.58% | 65,859 | $61.0M | Reduce -3.0% |
| JPM JPMorgan Chase & Co. | 2.23% | 167,087 | $52.7M | Reduce -1.8% |
| SYK Stryker Corp. | 2.16% | 137,853 | $51.0M | Reduce -3.8% |
| ORCL Oracle Corp. | 2.07% | 174,033 | $48.9M | Add +2.3% |
| V Visa Inc. Class A | 1.79% | 123,442 | $42.1M | Reduce -2.7% |
| IJR iShares Core S&P Small-Cap E | 1.73% | 343,679 | $40.8M | Reduce -3.7% |
| IJH iShares Core S&P Midcap ETF | 1.66% | 600,487 | $39.2M | Reduce -3.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.59% | 56,154 | $37.4M | Reduce -0.3% |
| IXUS iShares Core Intl Stock ETF | 1.58% | 450,702 | $37.2M | Add +5.5% |
| GLD SPDR Gold Shares | 1.56% | 103,680 | $36.9M | Reduce -4.3% |
| JNJ Johnson & Johnson | 1.56% | 198,127 | $36.7M | Reduce -2.6% |
| PANW Palo Alto Networks Inc. | 1.54% | 178,147 | $36.3M | Reduce -2.2% |
| AXP American Express Co. | 1.48% | 105,087 | $34.9M | Reduce -0.3% |
| ABT Abbott Laboratories | 1.27% | 223,162 | $29.9M | Reduce -4.1% |
| MA Mastercard Inc. Class A | 1.19% | 49,305 | $28.0M | Reduce -4.5% |
| META Meta Platforms Inc. Class A | 1.15% | 37,113 | $27.3M | Reduce -0.4% |
| CB Chubb Ltd. | 1.14% | 95,384 | $26.9M | Reduce -3.8% |
| GOOGL Alphabet Inc. Class A | 1.08% | 105,166 | $25.6M | Add +3.5% |
| AZO AutoZone Inc. | 1.06% | 5,825 | $25.0M | Reduce -2.3% |
| HD Home Depot Inc. | 1.05% | 61,006 | $24.7M | Reduce -2.4% |
| APH Amphenol Corp. Class A | 1.00% | 190,935 | $23.6M | Reduce -3.3% |
| UBER Uber Technologies Inc. | 1.00% | 240,569 | $23.6M | Add +75.9% |
| PEP Pepsico Inc. | 0.96% | 161,922 | $22.7M | Reduce -1.3% |
| ACN Accenture PLC Class A | 0.96% | 92,035 | $22.7M | Reduce -0.0% |
| ITW Illinois Tool Works | 0.89% | 80,342 | $20.9M | Reduce -4.3% |
| TMO Thermo Fisher Scientific Inc. | 0.84% | 40,973 | $19.9M | Reduce -1.2% |
| HON Honeywell International Inc. | 0.81% | 90,870 | $19.1M | Reduce -8.8% |
| IVV iShares Core S&P 500 ETF | 0.81% | 28,499 | $19.1M | Add +4.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.80% | 164,903 | $18.9M | Reduce -12.2% |
| WFC Wells Fargo & Co. | 0.78% | 220,712 | $18.5M | Reduce -0.2% |
| KO The Coca-Cola Co. | 0.78% | 276,016 | $18.3M | Reduce -1.5% |
| WM Waste Management Inc. | 0.77% | 82,770 | $18.3M | Reduce -3.1% |
| RTX RTX Corp. | 0.77% | 107,943 | $18.1M | Reduce -1.2% |
| VEA Vanguard Ftse Developed ETF | 0.74% | 290,668 | $17.4M | Add +11.1% |
| VEU Vanguard Ftse All-World Ex-U | 0.74% | 243,531 | $17.4M | Reduce -0.1% |
| LLY Eli Lilly & Co. | 0.68% | 20,923 | $16.0M | Reduce -8.2% |
| BX Blackstone Inc. | 0.67% | 92,758 | $15.8M | Add +9.3% |
| MUB iShares National Muni Bond E | 0.65% | 143,276 | $15.3M | Reduce -1.3% |
| COF Capital One Financial Corp. | 0.64% | 70,702 | $15.0M | New |
| XOM Exxon Mobil Corp. | 0.59% | 122,521 | $13.8M | Reduce -0.8% |
| XLF SS Financial Select Sector | 0.55% | 241,514 | $13.0M | Reduce -6.4% |
| ICE Intercontinental Exchange Inc. | 0.54% | 75,856 | $12.8M | Reduce -0.1% |
| NFLX Netflix Inc. | 0.52% | 10,282 | $12.3M | Add +0.5% |
| C Citigroup Inc. | 0.52% | 120,892 | $12.3M | Reduce -4.5% |
| UNP Union Pacific Corp. | 0.50% | 49,499 | $11.7M | Reduce -1.5% |
| WTW Willis Towers Watson PLC | 0.49% | 33,397 | $11.5M | Reduce -0.1% |
| EFA iShares MSCI Eafe ETF | 0.48% | 120,418 | $11.2M | Add +0.5% |
| NEE Nextera Energy Inc. | 0.46% | 144,192 | $10.9M | Reduce -0.8% |
| ECL Ecolab Inc. | 0.45% | 38,683 | $10.6M | Reduce -0.1% |
| UNH Unitedhealth Group Inc. | 0.43% | 29,137 | $10.1M | Reduce -11.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.41% | 126,765 | $9.7M | Reduce -4.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.40% | 28,837 | $9.5M | Reduce -1.3% |
| ADBE Adobe Inc. | 0.39% | 25,923 | $9.1M | Reduce -6.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.38% | 35,393 | $9.0M | Add +0.3% |
| CRM Salesforce Inc. | 0.38% | 37,581 | $8.9M | Reduce -22.0% |
| JMUB JPMorgan Municipal ETF | 0.37% | 174,335 | $8.8M | Add +22.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.36% | 29,052 | $8.5M | Reduce -0.0% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.36% | 165,290 | $8.4M | Add +0.6% |
| MCD McDonald's Corp. | 0.35% | 27,430 | $8.3M | Reduce -4.7% |
| FLOT iShares Floating Rate Bond E | 0.35% | 161,635 | $8.3M | Reduce -0.4% |
| MDY State Street SPDR S&P Midcap | 0.34% | 13,488 | $8.0M | Reduce -1.8% |
| CHD Church & Dwight Co. Inc. | 0.33% | 88,244 | $7.7M | Reduce -2.4% |
| AGG iShares Core U.S. Aggregate | 0.33% | 76,692 | $7.7M | Reduce -4.7% |
| CVX Chevron Corp. | 0.31% | 46,505 | $7.2M | Add +25.5% |
| DHR Danaher Corp. | 0.30% | 35,593 | $7.1M | Reduce -4.0% |
| CBOE Cboe Global Markets Inc. | 0.29% | 27,767 | $6.8M | Add +5.6% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.28% | 6,978 | $6.6M | Reduce -2.4% |
| TSCO Tractor Supply Company | 0.28% | 114,655 | $6.5M | Reduce -0.8% |
| PG The Procter & Gamble Co. | 0.27% | 41,979 | $6.5M | Reduce -0.2% |
| APD Air Products & Chemicals Inc. | 0.27% | 23,525 | $6.4M | Reduce -2.8% |
| FISV Fiserv Inc. | 0.27% | 49,480 | $6.4M | Reduce -7.9% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.27% | 127,387 | $6.4M | Reduce -1.1% |
| SUB iShares Short-Term National | 0.27% | 59,577 | $6.4M | Reduce -8.4% |
| TMUS T-Mobile US Inc. | 0.27% | 26,276 | $6.3M | Reduce -0.6% |
| BDX Becton Dickinson and Co. | 0.27% | 33,522 | $6.3M | Reduce -6.0% |
| NOW ServiceNow Inc. | 0.25% | 6,421 | $5.9M | Add +1.3% |
| ZTS Zoetis Inc. | 0.25% | 39,864 | $5.8M | Reduce -61.4% |
| SPGI S&P Global Inc. | 0.24% | 11,799 | $5.7M | Add +0.4% |
| TFC Truist Financial Corp. | 0.24% | 123,652 | $5.7M | Reduce -0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 38,558 | $5.6M | Reduce -1.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 19,252 | $5.4M | Add +0.7% |
| SBUX Starbucks Corp. | 0.22% | 61,085 | $5.2M | Reduce -5.6% |
| CDNS Cadence Design SYS Inc. | 0.22% | 14,467 | $5.1M | Add +2.6% |
| ADP Automatic Data Processing | 0.21% | 17,013 | $5.0M | Reduce -6.8% |
| AMGN Amgen Inc. | 0.21% | 17,597 | $5.0M | Reduce -11.9% |
| LIN Linde PLC | 0.21% | 10,355 | $4.9M | Reduce -0.4% |
| BLK BlackRock Inc. | 0.21% | 4,211 | $4.9M | Reduce -1.5% |
| ETN Eaton Corp. PLC | 0.21% | 13,063 | $4.9M | Add +29.9% |
| LOW Lowe's Cos Inc. | 0.20% | 18,951 | $4.8M | No change |
| MRK Merck & Co. Inc. | 0.20% | 55,272 | $4.6M | Reduce -5.3% |
| PGR Progressive Corp. | 0.19% | 18,574 | $4.6M | Reduce -1.1% |
| BND Vanguard Total Bond Market | 0.19% | 61,592 | $4.6M | Add +3.6% |
| FBND Fidelity Total Bond ETF | 0.19% | 97,610 | $4.5M | Add +9.2% |
| ABBV Abbvie Inc. | 0.19% | 19,250 | $4.5M | Reduce -8.7% |
Portfolio Sells Q2 2025 → Q3 2025
| ZTS Zoetis Inc. | Reduce -61.4% | 0.25% | −0.47 |
| COST Costco Wholesale Corp. | Reduce -3.0% | 2.58% | −0.42 |
| SYK Stryker Corp. | Reduce -3.8% | 2.16% | −0.37 |
| ACN Accenture PLC Class A | Reduce -0.0% | 0.96% | −0.27 |
| DIS The Walt Disney Co. | Reduce -12.2% | 0.80% | −0.24 |
| V Visa Inc. Class A | Reduce -2.7% | 1.79% | −0.23 |
| HON Honeywell International Inc. | Reduce -8.8% | 0.81% | −0.23 |
| CRM Salesforce Inc. | Reduce -22.0% | 0.38% | −0.21 |
| MSFT Microsoft Corp. | Reduce -2.5% | 4.96% | −0.19 |
| AMZN Amazon.com Inc. | Reduce -0.8% | 2.84% | −0.17 |
| ABT Abbott Laboratories | Reduce -4.1% | 1.27% | −0.15 |
| FISV Fiserv Inc. | Reduce -7.9% | 0.27% | −0.14 |
| CB Chubb Ltd. | Reduce -3.8% | 1.14% | −0.14 |
| PANW Palo Alto Networks Inc. | Reduce -2.2% | 1.54% | −0.13 |
| LLY Eli Lilly & Co. | Reduce -8.2% | 0.68% | −0.12 |
| KO The Coca-Cola Co. | Reduce -1.5% | 0.78% | −0.11 |
| MA Mastercard Inc. Class A | Reduce -4.5% | 1.19% | −0.11 |
| ROP Roper Technologies Inc. | Reduce -63.3% | 0.04% | −0.10 |
| WM Waste Management Inc. | Reduce -3.1% | 0.77% | −0.10 |
| ADBE Adobe Inc. | Reduce -6.3% | 0.39% | −0.09 |
| COP Conocophillips | Reduce -84.2% | 0.02% | −0.08 |
| ICE Intercontinental Exchange Inc. | Reduce -0.1% | 0.54% | −0.08 |
| META Meta Platforms Inc. Class A | Reduce -0.4% | 1.15% | −0.07 |
| CHD Church & Dwight Co. Inc. | Reduce -2.4% | 0.33% | −0.06 |
| HES Hess Corp. | Sold out | 0.00% | −0.06 |
| IJH iShares Core S&P Midcap ETF | Reduce -3.2% | 1.66% | −0.06 |
| XLF SS Financial Select Sector | Reduce -6.4% | 0.55% | −0.05 |
| GWW WW Grainger Inc. | Reduce -2.4% | 0.28% | −0.05 |
| SBUX Starbucks Corp. | Reduce -5.6% | 0.22% | −0.05 |
| ALC Alcon Inc. | Reduce -3.7% | 0.15% | −0.04 |
| INDA iShares MSCI India ETF | Reduce -43.9% | 0.04% | −0.04 |
| ADP Automatic Data Processing | Reduce -6.8% | 0.21% | −0.04 |
| SUB iShares Short-Term National | Reduce -8.4% | 0.27% | −0.04 |
| AMGN Amgen Inc. | Reduce -11.9% | 0.21% | −0.04 |
| ITW Illinois Tool Works | Reduce -4.3% | 0.89% | −0.04 |
| OKE Oneok Inc. | Reduce -1.8% | 0.17% | −0.03 |
| APD Air Products & Chemicals Inc. | Reduce -2.8% | 0.27% | −0.03 |
| RAL Ralliant Corp. | Reduce -49.1% | 0.02% | −0.03 |
| UNH Unitedhealth Group Inc. | Reduce -11.3% | 0.43% | −0.03 |
| AGG iShares Core U.S. Aggregate | Reduce -4.7% | 0.33% | −0.03 |
| MUB iShares National Muni Bond E | Reduce -1.3% | 0.65% | −0.03 |
| PGR Progressive Corp. | Reduce -1.1% | 0.19% | −0.03 |
| DHR Danaher Corp. | Reduce -4.0% | 0.30% | −0.03 |
| AMP Ameriprise Financial Inc. | Reduce -0.7% | 0.18% | −0.03 |
| FTV Fortive Corp. | Reduce -3.8% | 0.16% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.2% | 0.27% | −0.03 |
| AXP American Express Co. | Reduce -0.3% | 1.48% | −0.02 |
| OMC Omnicom Group | Reduce -36.2% | 0.05% | −0.02 |
| MCD McDonald's Corp. | Reduce -4.7% | 0.35% | −0.02 |
| POOL Pool Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| COF Capital One Financial Corp. | New | 0.64% | +0.64 |
| AAPL Apple Inc. | Add +1.5% | 3.09% | +0.51 |
| UBER Uber Technologies Inc. | Add +75.9% | 1.00% | +0.43 |
| ORCL Oracle Corp. | Add +2.3% | 2.07% | +0.41 |
| GOOGL Alphabet Inc. Class A | Add +3.5% | 1.08% | +0.28 |
| BX Blackstone Inc. | Add +9.3% | 0.67% | +0.10 |
| IXUS iShares Core Intl Stock ETF | Add +5.5% | 1.58% | +0.10 |
| EQT Eqt Corp. | New | 0.09% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +11.1% | 0.74% | +0.07 |
| CVX Chevron Corp. | Add +25.5% | 0.31% | +0.07 |
| JMUB JPMorgan Municipal ETF | Add +22.3% | 0.37% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +4.2% | 0.81% | +0.05 |
| ETN Eaton Corp. PLC | Add +29.9% | 0.21% | +0.05 |
| MDT Medtronic PLC | New | 0.05% | +0.05 |
| TLT iShares 20+ Year Treasury BD | New | 0.04% | +0.04 |
| HQY Healthequity Inc. | Add +67.9% | 0.10% | +0.03 |
| SLV iShares Silver Trust | Add +0.6% | 0.16% | +0.03 |
| FSLR First Solar Inc. | Add +2.2% | 0.13% | +0.03 |
| VGK Vanguard Ftse Europe ETF | Add +38.2% | 0.11% | +0.03 |
| T AT&T Inc. | Add +61.1% | 0.08% | +0.02 |
| WELL Welltower Inc. | Add +10.9% | 0.14% | +0.02 |
| DRI Darden Restaurants Inc. | New | 0.02% | +0.02 |
| CWI State Street SPDR MSCI Acwi | Add +81.3% | 0.05% | +0.02 |
| CDNS Cadence Design SYS Inc. | Add +2.6% | 0.22% | +0.02 |
| VWO Vanguard Ftse Emerging Marke | Add +18.1% | 0.10% | +0.02 |
| IBDX iShares Ibonds Dec 2032 TC | Add +59.4% | 0.05% | +0.02 |
| BRBR Bellring Brands Inc. | New | 0.02% | +0.02 |
| CBOE Cboe Global Markets Inc. | Add +5.6% | 0.29% | +0.01 |
| TSLA Tesla Inc. | Add +0.8% | 0.06% | +0.01 |
| IEMG iShares Core MSCI Emerging | Add +13.2% | 0.09% | +0.01 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | New | 0.01% | +0.01 |
| FCX Freeport-McMoran Inc. | New | 0.01% | +0.01 |
| EXE Expand Energy Corp. | New | 0.01% | +0.01 |
| INTC Intel Corp. | Add +0.1% | 0.04% | +0.01 |
| SNOW Snowflake Inc. | New | 0.01% | +0.01 |
| HASI Ha Sustainable Infrastructur | New | 0.01% | +0.01 |
| IWS iShares Russell Mid-Cap Valu | New | 0.01% | +0.01 |
| STX Seagate Technology Holdings | New | 0.01% | +0.01 |
| DHI D.R. Horton Inc. | New | 0.01% | +0.01 |
| IWP iShares Russell Mid-Cap Grow | New | 0.01% | +0.01 |
| APP AppLovin Corp. Class A | New | 0.01% | +0.01 |
| VLO Valero Energy Corp. | New | 0.01% | +0.01 |
| FAST Fastenal Co. | New | 0.01% | +0.01 |
| NSC Norfolk Southern Corp. | New | 0.01% | +0.01 |
| BNY Bank of New York Mellon Corp. | New | 0.01% | +0.01 |
| MTCH Match Group Inc. | New | 0.01% | +0.01 |
| FBND Fidelity Total Bond ETF | Add +9.2% | 0.19% | +0.01 |
| FERG Ferguson Enterprises Inc. | Add +18.6% | 0.06% | +0.01 |
| XYL Xylem Inc. | Add +1.1% | 0.09% | +0.01 |
| GEV GE Vernova Inc. | Add +0.2% | 0.08% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 369 | $2.6B | GOOG, NVDA, AAPL, AMZN, MSFT |
| Q1 2026 | 370 | $2.4B | GOOG, MSFT, NVDA, AAPL, AMZN |
| Q4 2025 | 371 | $2.5B | GOOG, MSFT, NVDA, AVGO, AAPL |
| Q3 2025 | 348 | $2.4B | MSFT, GOOG, NVDA, AVGO, AAPL |
| Q2 2025 | 334 | $2.2B | MSFT, GOOG, AVGO, NVDA, AMZN |
| Q1 2025 | 330 | $2.1B | MSFT, GOOG, AAPL, COST, SYK |
| Q4 2024 | 326 | $2.2B | MSFT, GOOG, AVGO, AAPL, COST |
| Q3 2024 | 323 | $2.1B | MSFT, GOOG, AAPL, COST, AVGO |
| Q2 2024 | 309 | $2.0B | MSFT, GOOG, AAPL, COST, NVDA |
| Q1 2024 | 311 | $2.0B | MSFT, GOOG, AAPL, COST, SYK |