Chesley Taft & Associates LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 14, 2026), Chesley Taft & Associates LLC reported 371 stock positions worth $2.5 billion. Its top holding was Alphabet Class C (GOOG) at 5.4% of the portfolio, followed by Microsoft (MSFT, 4.6%) and Nvidia (NVDA, 3.5%). Compared with Q3 2025, it opened 33 new positions, sold out of 11, added to 241 and reduced 69. The biggest buy was Alphabet Class C (GOOG, shares +1%) and the biggest sale American Express (AXP, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001164632
- Portfolio Value
- $2.5B (Q4 2025)
- SEC Filing
- 0001164632-26-000001 ↗ filed Jan 14, 2026
Holdings Value
Holdings 371 stocks · $2.5B
| GOOG Alphabet Inc. Class C | 5.36% | 433,062 | $135.9M | Add +1.3% |
| MSFT Microsoft Corp. | 4.61% | 241,411 | $116.8M | Add +6.9% |
| NVDA Nvidia Corp. | 3.53% | 480,297 | $89.6M | Add +4.1% |
| AVGO Broadcom Inc. | 3.51% | 257,266 | $89.0M | Add +0.9% |
| AAPL Apple Inc. | 3.08% | 286,935 | $78.0M | Add +0.1% |
| AMZN Amazon.com Inc. | 2.87% | 315,372 | $72.8M | Add +3.3% |
| COST Costco Wholesale Corp. | 2.34% | 68,667 | $59.2M | Add +4.3% |
| JPM JPMorgan Chase & Co. | 2.24% | 176,208 | $56.8M | Add +5.5% |
| SYK Stryker Corp. | 1.96% | 141,083 | $49.6M | Add +2.3% |
| V Visa Inc. Class A | 1.84% | 132,858 | $46.6M | Add +7.6% |
| GLD SPDR Gold Shares | 1.82% | 116,082 | $46.0M | Add +12.0% |
| JNJ Johnson & Johnson | 1.74% | 212,903 | $44.1M | Add +7.5% |
| IJR iShares Core S&P Small-Cap E | 1.73% | 365,335 | $43.9M | Add +6.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.69% | 62,656 | $42.7M | Add +11.6% |
| IXUS iShares Core Intl Stock ETF | 1.68% | 503,602 | $42.6M | Add +11.7% |
| IJH iShares Core S&P Midcap ETF | 1.58% | 608,201 | $40.1M | Add +1.3% |
| PANW Palo Alto Networks Inc. | 1.39% | 191,466 | $35.3M | Add +7.5% |
| ORCL Oracle Corp. | 1.39% | 180,617 | $35.2M | Add +3.8% |
| GOOGL Alphabet Inc. Class A | 1.35% | 109,436 | $34.3M | Add +4.1% |
| CB Chubb Ltd. | 1.26% | 102,427 | $32.0M | Add +7.4% |
| AXP American Express Co. | 1.23% | 84,354 | $31.2M | Reduce -19.7% |
| ABT Abbott Laboratories | 1.20% | 241,771 | $30.3M | Add +8.3% |
| MA Mastercard Inc. Class A | 1.18% | 52,426 | $29.9M | Add +6.3% |
| APH Amphenol Corp. Class A | 1.10% | 206,278 | $27.9M | Add +8.0% |
| ACN Accenture PLC Class A | 1.03% | 96,864 | $26.0M | Add +5.3% |
| META Meta Platforms Inc. Class A | 1.02% | 39,177 | $25.9M | Add +5.6% |
| PEP Pepsico Inc. | 0.99% | 175,588 | $25.2M | Add +8.4% |
| TMO Thermo Fisher Scientific Inc. | 0.97% | 42,442 | $24.6M | Add +3.6% |
| LLY Eli Lilly & Co. | 0.95% | 22,441 | $24.1M | Add +7.3% |
| RTX RTX Corp. | 0.89% | 122,734 | $22.5M | Add +13.7% |
| AZO AutoZone Inc. | 0.87% | 6,476 | $22.0M | Add +11.2% |
| HD Home Depot Inc. | 0.86% | 63,697 | $21.9M | Add +4.4% |
| WFC Wells Fargo & Co. | 0.82% | 223,514 | $20.8M | Add +1.3% |
| VEA Vanguard Ftse Developed ETF | 0.82% | 331,150 | $20.7M | Add +13.9% |
| IVV iShares Core S&P 500 ETF | 0.80% | 29,762 | $20.4M | Add +4.4% |
| UBER Uber Technologies Inc. | 0.80% | 249,230 | $20.4M | Add +3.6% |
| WM Waste Management Inc. | 0.80% | 92,095 | $20.2M | Add +11.3% |
| HON Honeywell International Inc. | 0.77% | 99,645 | $19.4M | Add +9.7% |
| KO The Coca-Cola Co. | 0.76% | 275,989 | $19.3M | Reduce -0.0% |
| ITW Illinois Tool Works | 0.76% | 78,259 | $19.3M | Reduce -2.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.76% | 261,925 | $19.3M | Add +7.5% |
| COF Capital One Financial Corp. | 0.75% | 78,076 | $18.9M | Add +10.4% |
| C Citigroup Inc. | 0.68% | 147,373 | $17.2M | Add +21.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.67% | 149,714 | $17.0M | Reduce -9.2% |
| XOM Exxon Mobil Corp. | 0.64% | 135,621 | $16.3M | Add +10.7% |
| MUB iShares National Muni Bond E | 0.60% | 141,803 | $15.2M | Reduce -1.0% |
| AZN Astrazeneca PLC-Spons ADR | 0.55% | 152,750 | $14.0M | Add +20.5% |
| XLF SS Financial Select Sector | 0.55% | 254,352 | $13.9M | Add +5.3% |
| BX Blackstone Inc. | 0.55% | 90,275 | $13.9M | Reduce -2.7% |
| EFA iShares MSCI Eafe ETF | 0.51% | 135,818 | $13.0M | Add +12.8% |
| JMUB JPMorgan Municipal ETF | 0.50% | 253,182 | $12.8M | Add +45.2% |
| ICE Intercontinental Exchange Inc. | 0.50% | 77,472 | $12.5M | Add +2.1% |
| NEE Nextera Energy Inc. | 0.46% | 144,435 | $11.6M | Add +0.2% |
| UNP Union Pacific Corp. | 0.44% | 48,018 | $11.1M | Reduce -3.0% |
| WTW Willis Towers Watson PLC | 0.42% | 32,461 | $10.7M | Reduce -2.8% |
| ECL Ecolab Inc. | 0.41% | 39,951 | $10.5M | Add +3.3% |
| CRM Salesforce Inc. | 0.41% | 38,988 | $10.3M | Add +3.7% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.41% | 201,640 | $10.3M | Add +22.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.39% | 38,368 | $9.9M | Add +8.4% |
| NFLX Netflix Inc. | 0.39% | 105,150 | $9.9M | Add +2.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.38% | 28,596 | $9.6M | Reduce -0.8% |
| UNH Unitedhealth Group Inc. | 0.37% | 28,746 | $9.5M | Reduce -1.3% |
| ADBE Adobe Inc. | 0.37% | 26,559 | $9.3M | Add +2.5% |
| FLOT iShares Floating Rate Bond E | 0.37% | 182,185 | $9.3M | Add +12.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.36% | 31,191 | $9.1M | Add +7.4% |
| MCD McDonald's Corp. | 0.35% | 28,896 | $8.8M | Add +5.3% |
| MDY State Street SPDR S&P Midcap | 0.35% | 14,568 | $8.8M | Add +8.0% |
| DHR Danaher Corp. | 0.33% | 36,788 | $8.4M | Add +3.4% |
| CHD Church & Dwight Co. Inc. | 0.33% | 98,894 | $8.3M | Add +12.1% |
| AGG iShares Core U.S. Aggregate | 0.32% | 79,983 | $8.0M | Add +4.3% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 0.30% | 85,076 | $7.7M | Add +383.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.30% | 150,812 | $7.6M | Add +18.4% |
| CBOE Cboe Global Markets Inc. | 0.29% | 29,660 | $7.4M | Add +6.8% |
| SUB iShares Short-Term National | 0.29% | 69,057 | $7.4M | Add +15.9% |
| CVX Chevron Corp. | 0.28% | 46,269 | $7.1M | Reduce -0.5% |
| GWW WW Grainger Inc. | 0.28% | 6,951 | $7.0M | Reduce -0.4% |
| AMGN Amgen Inc. | 0.26% | 20,162 | $6.6M | Add +14.6% |
| PG The Procter & Gamble Co. | 0.26% | 45,769 | $6.6M | Add +9.0% |
| SLV iShares Silver Trust | 0.26% | 101,350 | $6.5M | Add +16.0% |
| BDX Becton Dickinson and Co. | 0.26% | 33,397 | $6.5M | Reduce -0.4% |
| SPGI S&P Global Inc. | 0.25% | 12,319 | $6.4M | Add +4.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 41,835 | $6.4M | Add +8.5% |
| MRK Merck & Co. Inc. | 0.25% | 60,485 | $6.4M | Add +9.4% |
| TSCO Tractor Supply Company | 0.23% | 114,910 | $5.7M | Add +0.2% |
| TFC Truist Financial Corp. | 0.22% | 115,638 | $5.7M | Reduce -6.5% |
| SBUX Starbucks Corp. | 0.22% | 65,084 | $5.5M | Add +6.5% |
| TMUS T-Mobile US Inc. | 0.21% | 26,609 | $5.4M | Add +1.3% |
| APD Air Products & Chemicals Inc. | 0.21% | 21,351 | $5.3M | Reduce -9.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.21% | 27,522 | $5.3M | Add +16.6% |
| ABBV Abbvie Inc. | 0.21% | 22,751 | $5.2M | Add +18.2% |
| PFE Pfizer Inc. | 0.20% | 208,557 | $5.2M | Add +41.3% |
| BLK BlackRock Inc. | 0.19% | 4,543 | $4.9M | Add +7.9% |
| LIN Linde PLC | 0.19% | 11,285 | $4.8M | Add +9.0% |
| FBND Fidelity Total Bond ETF | 0.19% | 104,290 | $4.8M | Add +6.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.19% | 16,067 | $4.8M | Reduce -16.5% |
| ZTS Zoetis Inc. | 0.19% | 37,290 | $4.7M | Reduce -6.5% |
| PGR Progressive Corp. | 0.18% | 20,562 | $4.7M | Add +10.7% |
| LOW Lowe's Cos Inc. | 0.18% | 19,404 | $4.7M | Add +2.4% |
| CDNS Cadence Design SYS Inc. | 0.18% | 14,847 | $4.6M | Add +2.6% |
| BND Vanguard Total Bond Market | 0.18% | 62,479 | $4.6M | Add +1.4% |
Portfolio Sells Q3 2025 → Q4 2025
| AXP American Express Co. | Reduce -19.7% | 1.23% | −0.25 |
| NOW ServiceNow Inc. | Reduce -86.1% | 0.03% | −0.22 |
| FISV Fiserv Inc. | Reduce -16.4% | 0.11% | −0.16 |
| DIS The Walt Disney Co. | Reduce -9.2% | 0.67% | −0.13 |
| ITW Illinois Tool Works | Reduce -2.6% | 0.76% | −0.13 |
| BX Blackstone Inc. | Reduce -2.7% | 0.55% | −0.12 |
| AMP Ameriprise Financial Inc. | Reduce -37.3% | 0.10% | −0.07 |
| WTW Willis Towers Watson PLC | Reduce -2.8% | 0.42% | −0.07 |
| APD Air Products & Chemicals Inc. | Reduce -9.2% | 0.21% | −0.06 |
| ZTS Zoetis Inc. | Reduce -6.5% | 0.19% | −0.06 |
| CTVA Corteva Inc. | Reduce -52.5% | 0.05% | −0.06 |
| UNP Union Pacific Corp. | Reduce -3.0% | 0.44% | −0.06 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.05 |
| UNH Unitedhealth Group Inc. | Reduce -1.3% | 0.37% | −0.05 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -24.7% | 0.13% | −0.05 |
| MUB iShares National Muni Bond E | Reduce -1.0% | 0.60% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -16.5% | 0.19% | −0.04 |
| IBDQ iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.03 |
| SYY Sysco Corp. | Reduce -19.6% | 0.07% | −0.03 |
| EFX Equifax Inc. | Sold out | 0.00% | −0.03 |
| SOLS Solstice Adv Materials Inc. | Reduce -58.7% | 0.02% | −0.03 |
| CVX Chevron Corp. | Reduce -0.5% | 0.28% | −0.03 |
| MAA Mid-America Apartment Comm | Sold out | 0.00% | −0.03 |
| WY Weyerhaeuser Co. | Reduce -2.8% | 0.15% | −0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.8% | 0.38% | −0.02 |
| ROP Roper Technologies Inc. | Reduce -41.4% | 0.02% | −0.02 |
| CRBG Corebridge Financial Inc. | Sold out | 0.00% | −0.02 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.02 |
| XYZ Block Inc. | Sold out | 0.00% | −0.02 |
| CP Canadian Pacific Kansas City | Reduce -8.9% | 0.08% | −0.02 |
| XLRE SS Real Estate Select Sector | Reduce -0.2% | 0.12% | −0.02 |
| TFC Truist Financial Corp. | Reduce -6.5% | 0.22% | −0.01 |
| KO The Coca-Cola Co. | Reduce -0.0% | 0.76% | −0.01 |
| EPD Enterprise Products Partners | Reduce -52.5% | 0.01% | −0.01 |
| ET Energy Transfer LP | Reduce -21.2% | 0.03% | −0.01 |
| IYW iShares Ustechnology ETF | Reduce -10.0% | 0.07% | −0.01 |
| CDW CDW Corp. | Reduce -12.7% | 0.03% | −0.01 |
| GOVT iShares US Treasury Bond ETF | Sold out | 0.00% | −0.01 |
| BKNG Booking Holdings Inc. | Reduce -2.4% | 0.10% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -0.4% | 0.26% | −0.01 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.01 |
| FAST Fastenal Co. | Sold out | 0.00% | −0.01 |
| CZR Caesars Entertainment Inc. | Reduce -0.1% | 0.04% | −0.01 |
| IWF iShares Russell 1000 Growth | Reduce -1.1% | 0.12% | −0.01 |
| SPSB SS SPDR P St C Corp. ETF | Sold out | 0.00% | −0.01 |
| CSL Carlisle Cos Inc. | Reduce -0.5% | 0.07% | −0.01 |
| IP International Paper Co. | Reduce -0.1% | 0.03% | −0.01 |
| ALC Alcon Inc. | Reduce -3.4% | 0.14% | −0.01 |
| IEMG iShares Core MSCI Emerging | Reduce -2.8% | 0.08% | −0.01 |
| ALL Allstate Corp. | Reduce -16.2% | 0.02% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | Add +1.3% | 5.36% | +0.95 |
| LLY Eli Lilly & Co. | Add +7.3% | 0.95% | +0.28 |
| GOOGL Alphabet Inc. Class A | Add +4.1% | 1.35% | +0.27 |
| GLD SPDR Gold Shares | Add +12.0% | 1.82% | +0.25 |
| CM Can Imperial BK of Commerce | Add +383.1% | 0.30% | +0.24 |
| JNJ Johnson & Johnson | Add +7.5% | 1.74% | +0.18 |
| C Citigroup Inc. | Add +21.9% | 0.68% | +0.16 |
| AZN Astrazeneca PLC-Spons ADR | Add +20.5% | 0.55% | +0.14 |
| JMUB JPMorgan Municipal ETF | Add +45.2% | 0.50% | +0.13 |
| TMO Thermo Fisher Scientific Inc. | Add +3.6% | 0.97% | +0.13 |
| RTX RTX Corp. | Add +13.7% | 0.89% | +0.12 |
| CB Chubb Ltd. | Add +7.4% | 1.26% | +0.12 |
| COF Capital One Financial Corp. | Add +10.4% | 0.75% | +0.11 |
| IXUS iShares Core Intl Stock ETF | Add +11.7% | 1.68% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +11.6% | 1.69% | +0.10 |
| SLV iShares Silver Trust | Add +16.0% | 0.26% | +0.10 |
| APH Amphenol Corp. Class A | Add +8.0% | 1.10% | +0.10 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.09% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +13.9% | 0.82% | +0.08 |
| ACN Accenture PLC Class A | Add +5.3% | 1.03% | +0.06 |
| SCHB Schwab US Broad Market ETF | Add +87.2% | 0.13% | +0.06 |
| XOM Exxon Mobil Corp. | Add +10.7% | 0.64% | +0.06 |
| EMLC Vaneck JPM Em Local Curr BND | New | 0.06% | +0.06 |
| MRK Merck & Co. Inc. | Add +9.4% | 0.25% | +0.05 |
| V Visa Inc. Class A | Add +7.6% | 1.84% | +0.05 |
| AMGN Amgen Inc. | Add +14.6% | 0.26% | +0.05 |
| JMST JPM Ultra-Short Muni Income | Add +22.0% | 0.41% | +0.05 |
| EMB iShares JP Morgan Usd Emergi | New | 0.05% | +0.05 |
| PFE Pfizer Inc. | Add +41.3% | 0.20% | +0.05 |
| CWI State Street SPDR MSCI Acwi | Add +84.6% | 0.09% | +0.04 |
| ALB Albemarle Corp. | New | 0.04% | +0.04 |
| EFA iShares MSCI Eafe ETF | Add +12.8% | 0.51% | +0.04 |
| WFC Wells Fargo & Co. | Add +1.3% | 0.82% | +0.04 |
| AIG American International Group | New | 0.04% | +0.04 |
| MU Micron Technology Inc. | New | 0.03% | +0.03 |
| DHR Danaher Corp. | Add +3.4% | 0.33% | +0.03 |
| AMZN Amazon.com Inc. | Add +3.3% | 2.87% | +0.03 |
| PEP Pepsico Inc. | Add +8.4% | 0.99% | +0.03 |
| CAT Caterpillar Inc. | Add +116.0% | 0.05% | +0.03 |
| NEU Newmarket Corp. | New | 0.03% | +0.03 |
| VGK Vanguard Ftse Europe ETF | Add +32.0% | 0.14% | +0.03 |
| CRM Salesforce Inc. | Add +3.7% | 0.41% | +0.03 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +18.4% | 0.30% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | Add +83.4% | 0.07% | +0.03 |
| REGN Regeneron Pharmaceuticals | Add +184.4% | 0.04% | +0.03 |
| IONQ Ionq Inc. | New | 0.03% | +0.03 |
| PM Philip Morris International | Add +70.9% | 0.07% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +36.0% | 0.12% | +0.03 |
| CSX CSX Corp. | New | 0.02% | +0.02 |
| WM Waste Management Inc. | Add +11.3% | 0.80% | +0.02 |
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 |