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Livermore
Livermore
ZHEN

Stephenson National Bank & Trust

SEC CIK
0000941519
Latest filing
Jul 16, 2026

The latest 13F from Stephenson National Bank & Trust covers Q2 2026 (filed Jul 16, 2026): 283 long positions worth $395.0M. The top 10 holdings make up 67.1% of the portfolio, and the largest is J P Morgan Exchange Traded F at 18.3%. 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
16
Est. +$1.95M
Added
75
Est. +$10.5M
Reduced
103
Est. −$4.95M
Sold out
34
Est. −$2.42M

Top 5 holdings

Share of this quarter's portfolio value

  1. J P Morgan Exchange Traded F46641Q167
    18.3%$72.5M
  2. Vanguard S&P 500 ETF922908363
    15.7%$62.0M
  3. J P Morgan Exchange Traded F46654Q609
    13.0%$51.5M
  4. Fidelity Covington Trust31609A404
    3.3%$12.9M
  5. iShares Russell Midcap ETF464287499
    3.2%$12.6M

Share of portfolio

Top 5 holdings and the other 278 positions, by share of portfolio value

  1. J P Morgan Exchange Traded F18.3%
  2. Vanguard S&P 500 ETF15.7%
  3. J P Morgan Exchange Traded F13.0%
  4. Fidelity Covington Trust3.3%
  5. iShares Russell Midcap ETF3.2%
  6. Other 278 positions46.5%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard S&P 500 ETF922908363
    +$3.04MAdded
  2. PIMCO Active Bond Exchange-Traded Fund72201R775
    +$668.3KAdded
  3. PCGPG&E Corp
    +$644.1KNewHistory
  4. Fidelity Merrimack STR Tr316188309
    +$625.9KAdded
  5. J P Morgan Exchange Traded F46654Q609
    +$454.1KAdded

Largest weight increases

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

  1. Vanguard S&P 500 ETF922908363
    +1.06 pp14.6% → 15.7%
  2. J P Morgan Exchange Traded F46654Q609
    +0.56 pp12.5% → 13.0%
  3. PCGPG&E Corp
    +0.16 pp0.0% → 0.2%History
  4. Vanguard World FD921910873
    +0.16 pp3.0% → 3.1%
  5. iShares Russell 2000 ETF464287655
    +0.16 pp1.3% → 1.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. EVRGEvergy, Inc.
    −$528.8KSold outHistory
  2. Vanguard High Dividend Yield Index ETF921946406
    −$488.7KSold out
  3. Vanguard Morningstar Small-Cap ETF922908751
    −$374.7KReduced
  4. INTCIntel Corp
    −$345.6KReducedHistory
  5. MKSIMKS Inc
    −$240.2KReducedHistory

Largest weight decreases

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

  1. Flexshares Tr33939L407
    −0.64 pp3.0% → 2.3%
  2. J P Morgan Exchange Traded F46641Q167
    −0.37 pp18.7% → 18.3%
  3. EVRGEvergy, Inc.
    −0.15 pp0.2% → 0.0%History
  4. Fidelity Covington Trust31609A404
    −0.15 pp3.4% → 3.3%
  5. Vanguard High Dividend Yield Index ETF921946406
    −0.14 pp0.1% → 0.0%

Metrics

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

Portfolio value
$395.0M
+$44.4M (+12.7%) vs. prior quarter
Positions
283
−18 vs. prior quarter
Top 10 concentration
67.1%
Top 10 as share of value
Turnover
2.0%
Q2 2026, one quarter
Average holding period
16.4 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 $395.0M (Q2 2026)

Q1 2021: $144.1MQ2 2021: $154.1MQ3 2021: $156.4MQ4 2021: $173.0MQ1 2022: $168.1MQ2 2022: $163.9MQ3 2022: $143.4MQ4 2022: $158.4MQ1 2023: $161.2MQ2 2023: $183.1MQ3 2023: $179.0MQ4 2023: $203.3MQ1 2024: $290.5MQ2 2024: $293.3MQ3 2024: $314.2MQ4 2024: $296.3MQ1 2025: $278.2MQ2 2025: $308.3MQ3 2025: $327.5MQ4 2025: $347.0MQ1 2026: $350.5MQ2 2026: $395.0M
Q1 2021Q2 2026
13F filings of Stephenson National Bank & Trust by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 16, 2026283$395.0MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q1 2026SEC
Q1 2026Apr 17, 2026301$350.5MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q4 2025SEC
Q4 2025Jan 23, 2026310$347.0MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q3 2025SEC
Q3 2025Oct 6, 2025315$327.5MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q2 2025SEC
Q2 2025Jul 16, 2025296$308.3MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q1 2025SEC
Q1 2025Apr 23, 2025260$278.2MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q4 2024SEC
Q4 2024Jan 14, 2025274$296.3MJ P Morgan Exchange Traded FVanguard S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q3 2024SEC
Q3 2024Oct 15, 2024294$314.2MVanguard S&P 500 ETFJ P Morgan Exchange Traded FJ P Morgan Exchange Traded Fvs. Q2 2024SEC
Q2 2024Jul 30, 2024262$293.3MVanguard S&P 500 ETFJ P Morgan Exchange Traded FJ P Morgan Exchange Traded Fvs. Q1 2024SEC
Q1 2024Apr 12, 2024279$290.5MVanguard S&P 500 ETFJ P Morgan Exchange Traded FJ P Morgan Exchange Traded Fvs. Q4 2023SEC
Q4 2023Jan 31, 2024241$203.3MVanguard S&P 500 ETFFlexshares TriShares Russell Midcap ETFvs. Q3 2023SEC
Q3 2023Oct 26, 2023293$179.0MVanguard S&P 500 ETFFlexshares TriShares Russell Midcap ETFvs. Q2 2023SEC
Q2 2023Jul 14, 2023240$183.1MVanguard S&P 500 ETFFlexshares TriShares Russell Midcap ETFvs. Q1 2023SEC
Q1 2023Apr 18, 2023236$161.2MVanguard S&P 500 ETFiShares Russell Midcap ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2022SEC
Q4 2022Jan 26, 2023244$158.4MVanguard S&P 500 ETFiShares Russell Midcap ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2022SEC
Q3 2022Oct 11, 2022231$143.4MVanguard S&P 500 ETFiShares Russell Midcap ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2022SEC
Q2 2022Jul 13, 2022231$163.9MVanguard S&P 500 ETFVanguard Morningstar Total Stock Market ETFiShares Russell Midcap ETFvs. Q1 2022SEC
Q1 2022Apr 15, 2022293$168.1MVanguard S&P 500 ETFVanguard Morningstar Total Stock Market ETFiShares Russell Midcap ETFvs. Q4 2021SEC
Q4 2021Jan 24, 2022301$173.0MVanguard S&P 500 ETFVanguard Morningstar Total Stock Market ETFiShares Russell Midcap ETFvs. Q3 2021SEC
Q3 2021Oct 22, 2021269$156.4MVanguard S&P 500 ETFiShares Russell Midcap ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2021SEC
Q2 2021Jul 27, 2021236$154.1MVanguard S&P 500 ETFiShares Russell Midcap ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2021SEC
Q1 2021Apr 16, 2021233$144.1MVanguard S&P 500 ETFiShares Russell Midcap ETFVanguard Morningstar Total Stock Market ETF–SEC