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Livermore
Livermore
ZHEN

Cobblestone Capital Advisors LLC

SEC CIK
0001033505
Latest filing
Nov 12, 2025

The latest 13F from Cobblestone Capital Advisors LLC covers Q3 2025 (filed Nov 12, 2025): 304 long positions worth $2.08B. The top 10 holdings make up 45.9% of the portfolio, and the largest is iShares Core MSCI Total International Stock ETF at 8.8%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2025

Share counts compared with Q2 2025: 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
10
Est. +$3.88M
Added
106
Est. +$20.4M
Reduced
110
Est. −$13.7M
Sold out
8
Est. −$1.98M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core MSCI Total International Stock ETF46432F834
    8.8%$184.1M
  2. iShares Tr464287150
    8.6%$178.7M
  3. iShares U.S. Treasury Bond ETF46429B267
    5.5%$114.2M
  4. AAPLApple Inc.
    4.2%$86.8MHistory
  5. Dimensional World Ex U.S. Core Equity 2 ETF25434V880
    4.2%$86.7M

Share of portfolio

Top 5 holdings and the other 299 positions, by share of portfolio value

  1. iShares Core MSCI Total International Stock ETF8.8%
  2. iShares Tr8.6%
  3. iShares U.S. Treasury Bond ETF5.5%
  4. AAPL4.2%
  5. Dimensional World Ex U.S. Core Equity 2 ETF4.2%
  6. Other 299 positions68.8%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Scottsdale FDS92206C706
    +$3.47MAdded
  2. iShares Tr464287150
    +$3.41MAdded
  3. iShares Core U.S. Aggregate Bond ETF464287226
    +$2.66MAdded
  4. Vanguard Mortgage-Backed Securities ETF92206C771
    +$2.03MAdded
  5. iShares Russell 2000 ETF464287655
    +$1.45MAdded

Largest weight increases

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

  1. iShares Tr464287150
    +0.26 pp8.3% → 8.6%
  2. Vanguard Scottsdale FDS92206C706
    +0.15 pp0.3% → 0.5%
  3. iShares Core U.S. Aggregate Bond ETF464287226
    +0.11 pp0.3% → 0.4%
  4. Vanguard Mortgage-Backed Securities ETF92206C771
    +0.09 pp0.1% → 0.2%
  5. iShares Core MSCI Emerging Markets ETF46434G103
    +0.09 pp2.2% → 2.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares U.S. Treasury Bond ETF46429B267
    −$2.42MReduced
  2. AAPLApple Inc.
    −$1.24MReducedHistory
  3. AMZNAmazon Com Inc
    −$1.01MReducedHistory
  4. DEODiageo PLC
    −$677.6KReducedHistory
  5. SHOPShopify Inc.
    −$647.8KReducedHistory

Largest weight decreases

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

  1. iShares U.S. Treasury Bond ETF46429B267
    −0.45 pp5.9% → 5.5%
  2. JKHYJack Henry & Associates Inc
    −0.28 pp1.1% → 0.9%History
  3. AMZNAmazon Com Inc
    −0.25 pp3.3% → 3.1%History
  4. MKLMarkel Group Inc.
    −0.21 pp2.0% → 1.8%History
  5. VVisa Inc.
    −0.19 pp1.9% → 1.7%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.08B
+$129.4M (+6.6%) vs. prior quarter
Positions
304
+2 vs. prior quarter
Top 10 concentration
45.9%
Top 10 as share of value
Turnover
0.8%
Q3 2025, one quarter
Average holding period
17.4 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

19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $2.08B (Q3 2025)

Q1 2021: $1.38BQ2 2021: $1.48BQ3 2021: $1.46BQ4 2021: $1.56BQ1 2022: $1.47BQ2 2022: $1.31BQ3 2022: $1.20BQ4 2022: $1.31BQ1 2023: $1.34BQ2 2023: $1.42BQ3 2023: $1.35BQ4 2023: $1.52BQ1 2024: $1.59BQ2 2024: $1.62BQ3 2024: $1.78BQ4 2024: $1.83BQ1 2025: $1.83BQ2 2025: $1.95BQ3 2025: $2.08B
Q1 2021Q3 2025
13F filings of Cobblestone Capital Advisors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 12, 2025304$2.08BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q2 2025SEC
Q2 2025Aug 1, 2025302$1.95BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q1 2025SEC
Q1 2025May 12, 2025293$1.83BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q4 2024SEC
Q4 2024Feb 5, 2025294$1.83BiShares TriShares Core MSCI Total International Stock ETFiShares U.S. Treasury Bond ETFvs. Q3 2024SEC
Q3 2024Nov 14, 2024287$1.78BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q2 2024SEC
Q2 2024Aug 6, 2024279$1.62BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q1 2024SEC
Q1 2024May 3, 2024282$1.59BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q4 2023SEC
Q4 2023Feb 9, 2024276$1.52BiShares Core MSCI Total International Stock ETFiShares TrAAPLvs. Q3 2023SEC
Q3 2023Nov 7, 2023268$1.35BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q2 2023SEC
Q2 2023Aug 1, 2023273$1.42BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q1 2023SEC
Q1 2023May 5, 2023268$1.34BiShares Core MSCI Total International Stock ETFiShares TriShares U.S. Treasury Bond ETFvs. Q4 2022SEC
Q4 2022Feb 9, 2023273$1.31BiShares Core MSCI Total International Stock ETFiShares U.S. Treasury Bond ETFiShares Trvs. Q3 2022SEC
Q3 2022Nov 7, 2022256$1.20BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Trvs. Q2 2022SEC
Q2 2022Aug 11, 2022250$1.31BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Trvs. Q1 2022SEC
Q1 2022Apr 29, 2022255$1.47BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Trvs. Q4 2021SEC
Q4 2021Feb 11, 2022261$1.56BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Trvs. Q3 2021SEC
Q3 2021Nov 10, 2021251$1.46BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Trvs. Q2 2021SEC
Q2 2021Aug 5, 2021256$1.48BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Trvs. Q1 2021SEC
Q1 2021May 13, 2021255$1.38BiShares U.S. Treasury Bond ETFiShares Core MSCI Total International Stock ETFiShares Tr–SEC