# Talbot Financial, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1966180. Source: https://holderbook.com/funds/1966180-talbot-financial-llc/

- Reported value: $1.4B
- Positions: 71
- Weight of the ten largest: 52.1%
- Filed: 2026-07-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $124.7M | 430,921 | 9.2% | 15 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $101.8M | 140,818 | 7.5% | 15 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $101.1M | 271,136 | 7.4% | 15 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $76.2M | 215,738 | 5.6% | 4 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $69.5M | 347,454 | 5.1% | 15 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $69.3M | 290,773 | 5.1% | 15 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $48.4M | 47,837 | 3.6% | 15 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $44.5M | 37,106 | 3.3% | 14 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $37.0M | 112,910 | 2.7% | 15 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $36.0M | 141,937 | 2.7% | 15 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $33.1M | 131,696 | 2.4% | 15 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $31.8M | 27,034 | 2.3% | 6 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $31.4M | 83,128 | 2.3% | 8 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $28.1M | 239,361 | 2.1% | 15 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $26.9M | 162,376 | 2.0% | 15 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $25.2M | 73,812 | 1.9% | 2 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $24.0M | 70,435 | 1.8% | 10 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $23.7M | 69,147 | 1.7% | 15 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $22.8M | 247,559 | 1.7% | 14 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $21.9M | 60,423 | 1.6% | 15 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $20.6M | 160,158 | 1.5% | 15 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $20.1M | 21,450 | 1.5% | 15 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $18.4M | 52,198 | 1.4% | 15 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $18.2M | 57,946 | 1.3% | 15 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $17.2M | 38,499 | 1.3% | 15 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $16.5M | 33,401 | 1.2% | 8 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $16.4M | 32,230 | 1.2% | 15 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $15.8M | 47,821 | 1.2% | 8 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $15.7M | 200,207 | 1.2% | 13 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $15.5M | 108,301 | 1.1% | 15 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $15.4M | 98,543 | 1.1% | 15 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $15.3M | 104,075 | 1.1% | 15 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $15.1M | 26,828 | 1.1% | 5 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $15.0M | 15,585 | 1.1% | 5 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $14.1M | 28,086 | 1.0% | 15 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $13.6M | 190,533 | 1.0% | 15 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $12.9M | 71,044 | 0.9% | 3 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $11.5M | 115,337 | 0.8% | 15 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $10.9M | 48,691 | 0.8% | 15 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $10.7M | 48,601 | 0.8% | 1 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $10.3M | 124,397 | 0.8% | 4 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $9.9M | 36,694 | 0.7% | 15 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $9.7M | 466,274 | 0.7% | 8 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $9.6M | 132,434 | 0.7% | 10 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $9.5M | 41,390 | 0.7% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $5.2M | 14,443 | 0.4% | 15 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $3.9M | 9,292 | 0.3% | 6 |
| WAFD INC | [WAFD](https://holderbook.com/stocks/WAFD/) | $3.1M | 80,896 | 0.2% | 15 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.8M | 13,000 | 0.1% | 15 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $1.2M | 4,586 | 0.1% | 15 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $1.1M | 3,176 | 0.1% | 8 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $717.0K | 1,396 | 0.1% | 15 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $701.0K | 1,401 | 0.1% | 15 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $646.8K | 2,300 | 0.0% | 10 |
| WORKIVA INC | [WK](https://holderbook.com/stocks/WK/) | $509.4K | 10,500 | 0.0% | 15 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $489.1K | 459 | 0.0% | 1 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $383.1K | 1,500 | 0.0% | 1 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $375.3K | 1,000 | 0.0% | 7 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $353.6K | 1,300 | 0.0% | 15 |
| DYCOM INDS INC | [DY](https://holderbook.com/stocks/DY/) | $328.6K | 650 | 0.0% | 3 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $322.3K | 1,572 | 0.0% | 15 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $310.9K | 2,745 | 0.0% | 8 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $304.4K | 900 | 0.0% | 10 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $285.2K | 1,750 | 0.0% | 4 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $265.2K | 351 | 0.0% | 7 |
| FIRSTCASH HOLDINGS INC | [FCFS](https://holderbook.com/stocks/FCFS/) | $255.0K | 1,179 | 0.0% | 2 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $254.4K | 2,804 | 0.0% | 4 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $220.7K | 1,630 | 0.0% | 15 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $207.8K | 960 | 0.0% | 1 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $204.4K | 2,000 | 0.0% | 1 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $201.6K | 900 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.5% | +14.8% | -2.3% | 100% |
| Q1 2026 | -5.0% | -4.6% | -0.3% | 100% |
| Q4 2025 | +3.4% | +2.4% | +1.0% | 100% |
| Q3 2025 | +6.6% | +7.8% | -1.2% | 100% |
| Q2 2025 | +10.4% | +10.5% | -0.1% | 100% |
| Q1 2025 | -4.3% | -4.6% | +0.2% | 100% |
| Q4 2024 | +2.8% | +2.1% | +0.7% | 100% |
| Q3 2024 | +2.0% | +5.4% | -3.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.4B | 71 |
| Q1 2026 | $1.2B | 66 |
| Q4 2025 | $1.2B | 68 |
| Q3 2025 | $1.2B | 67 |
| Q2 2025 | $1.1B | 63 |
| Q1 2025 | $798.3M | 62 |
| Q4 2024 | $840.8M | 65 |
| Q3 2024 | $821.4M | 61 |
| Q2 2024 | $774.8M | 58 |
| Q1 2024 | $747.4M | 60 |
| Q4 2023 | $664.6M | 56 |
| Q3 2023 | $573.6M | 56 |