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Livermore
Livermore
ZHEN

Burke & Herbert Bank & Trust Co

SEC CIK
0001101250
Latest filing
Aug 7, 2026

The latest 13F from Burke & Herbert Bank & Trust Co covers Q2 2026 (filed Aug 7, 2026): 246 long positions worth $403.4M. The top 10 holdings make up 29.9% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 6.3%. Livermore has 23 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
21
Est. +$8.65M
Added
43
Est. +$8.30M
Reduced
97
Est. −$8.18M
Sold out
10
Est. −$4.27M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    6.3%$25.5MHistory
  2. AAPLApple Inc.
    4.4%$17.9MHistory
  3. BHRBBurke & Herbert Financial Services Corp.
    3.9%$15.6MHistory
  4. MSFTMicrosoft Corp
    3.1%$12.7MHistory
  5. JNJJohnson & Johnson
    2.5%$9.95MHistory

Share of portfolio

Top 5 holdings and the other 241 positions, by share of portfolio value

  1. SPY6.3%
  2. AAPL4.4%
  3. BHRB3.9%
  4. MSFT3.1%
  5. JNJ2.5%
  6. Other 241 positions79.8%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares U.S. Treasury Bond ETF46429B267
    +$1.54MNew
  2. iShares Core S&P 500 ETF464287200
    +$964.6KAdded
  3. Invesco Exchange Traded FD T46137V357
    +$943.8KAdded
  4. iShares Tr464288588
    +$845.8KNew
  5. HONHoneywell International Inc
    +$723.4KNewHistory

Largest weight increases

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

  1. iShares U.S. Treasury Bond ETF46429B267
    +0.38 pp0.0% → 0.4%
  2. iShares Core S&P 500 ETF464287200
    +0.29 pp1.9% → 2.2%
  3. VanEck Semiconductor ETF92189F676
    +0.23 pp0.4% → 0.6%
  4. SPYSPDR S&P 500 ETF Trust
    +0.23 pp6.1% → 6.3%History
  5. LLYEli Lilly & Co
    +0.23 pp1.3% → 1.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$1.59MSold outHistory
  2. First Trust Dow Jones Internet Index Fund33733E302
    −$712.9KSold out
  3. ABBVAbbVie Inc.
    −$691.3KReducedHistory
  4. MSFTMicrosoft Corp
    −$636.0KReducedHistory
  5. JPMJPMorgan Chase & Co
    −$413.7KReducedHistory

Largest weight decreases

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

  1. MSFTMicrosoft Corp
    −0.51 pp3.6% → 3.1%History
  2. HONHoneywell International Inc
    −0.44 pp0.4% → 0.0%History
  3. CVXChevron Corp
    −0.37 pp1.3% → 0.9%History
  4. WMTWalmart Inc.
    −0.29 pp1.4% → 1.2%History
  5. JNJJohnson & Johnson
    −0.26 pp2.7% → 2.5%History

Metrics

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

Portfolio value
$403.4M
+$41.5M (+11.5%) vs. prior quarter
Positions
246
+11 vs. prior quarter
Top 10 concentration
29.9%
Top 10 as share of value
Turnover
3.3%
Q2 2026, one quarter
Average holding period
16.9 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 $465.3M (Q3 2025)

Q1 2021: $146.0MQ2 2021: $155.6MQ3 2021: $154.8MQ4 2021: $170.5MQ1 2022: $157.3MQ2 2022: $132.6MQ3 2022: $120.7MQ4 2022: $134.4MQ1 2023: $136.1MQ2 2023: $147.7MQ3 2023: $123.6MQ4 2023: $139.2MQ1 2024: $132.8MQ2 2024: $411.4MQ3 2024: $430.0MQ4 2024: $421.7MQ1 2025: $415.6MQ2 2025: $446.3MQ3 2025: $465.3MQ4 2025: $362.1MQ1 2026: $361.9MQ2 2026: $403.4M
Q1 2021Q2 2026
13F filings of Burke & Herbert Bank & Trust Co by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 7, 2026246$403.4MSPYAAPLBHRBvs. Q1 2026SEC
Q1 2026May 8, 2026235$361.9MSPYAAPLBHRBvs. Q4 2025SEC
Q4 2025Feb 12, 2026230$362.1MSPYAAPLMSFTvs. Q3 2025SEC
Q3 2025Nov 7, 2025238$465.3MSPYMSFTAAPLvs. Q2 2025SEC
Q2 2025Jul 31, 2025240$446.3MSPYMSFTBHRBvs. Q1 2025SEC
Q1 2025Apr 29, 2025229$415.6MSPYMSFTAAPLvs. Q4 2024SEC
Q4 2024Jan 31, 2025226$421.7MSPYMSFTAAPLvs. Q3 2024SEC
Q3 2024Oct 23, 2024229$430.0MSPYMSFTBHRBvs. Q2 2024SEC
Q2 2024Jul 16, 2024227$411.4MMSFTSPYBHRBvs. Q1 2024SEC
Q1 2024Apr 15, 2024119$132.8MBHRBSPYMSFTvs. Q4 2023SEC
Q4 2023Jan 10, 2024124$139.2MBHRBAAPLMSFTvs. Q3 2023SEC
Q3 2023Oct 16, 2023115$123.6MBHRBAAPLSPYvs. Q2 2023SEC
Q2 2023Jul 12, 2023132$147.7MBHRBAAPLMSFTvs. Q1 2023SEC
Q1 2023Apr 13, 2023132$136.1MAAPLMSFTSPYvs. Q4 2022SEC
Q4 2022Jan 11, 2023132$134.4MAAPLMSFTSPYvs. Q3 2022SEC
Q3 2022Nov 14, 2022Amended126$120.7MAAPLMSFTSPYvs. Q2 2022SEC
Q2 2022Jul 8, 2022132$132.6MAAPLSPYMSFTvs. Q1 2022SEC
Q1 2022Apr 20, 2022143$157.3MAAPLMSFTSPYvs. Q4 2021SEC
Q4 2021Jan 13, 2022150$170.5MAAPLMSFTSPYvs. Q3 2021SEC
Q3 2021Oct 8, 2021147$154.8MAAPLMSFTSPYvs. Q2 2021SEC
Q2 2021Jul 14, 2021150$155.6MAAPLSPYMSFTvs. Q1 2021SEC
Q1 2021Apr 12, 2021141$146.0MAAPLSPYMSFT–SEC