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Livermore
Livermore
ZHEN

Davidson Investment Advisors

SEC CIK
0001140771
Latest filing
Jul 21, 2026

The latest 13F from Davidson Investment Advisors covers Q2 2026 (filed Jul 21, 2026): 123 long positions worth $2.45B. The top 10 holdings make up 38.6% of the portfolio, and the largest is iShares Core MSCI Total International Stock ETF at 8.3%. Livermore has 24 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
5
Est. +$74.4M
Added
28
Est. +$70.1M
Reduced
74
Est. −$147.9M
Sold out
8
Est. −$67.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core MSCI Total International Stock ETF46432F834
    8.3%$202.5M
  2. GOOGAlphabet Inc.
    4.8%$117.4MHistory
  3. AMZNAmazon Com Inc
    4.4%$106.7MHistory
  4. AAPLApple Inc.
    4.0%$98.9MHistory
  5. TSMTaiwan Semiconductor Manufacturing Co Ltd
    3.9%$95.6MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. FDXFFedEx Freight Holding Company, Inc.
    +$23.0MNewHistory
  2. iShares MSCI USA Momentum Factor ETF46432F396
    +$16.8MNew
  3. ETNEaton Corp plc
    +$13.2MAddedHistory
  4. HONHoneywell International Inc
    +$12.0MNewHistory
  5. HONAHoneywell Aerospace Inc.
    +$11.8MNewHistory

Largest weight increases

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

  1. FDXFFedEx Freight Holding Company, Inc.
    +0.94 pp0.0% → 0.9%History
  2. ETNEaton Corp plc
    +0.70 pp1.3% → 2.0%History
  3. iShares MSCI USA Momentum Factor ETF46432F396
    +0.69 pp0.0% → 0.7%
  4. NVDANVIDIA Corp
    +0.63 pp2.6% → 3.2%History
  5. AVGOBroadcom Inc.
    +0.62 pp1.4% → 2.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$25.9MSold outHistory
  2. FDXFedEx Corp
    −$22.4MReducedHistory
  3. RTXRTX Corp
    −$17.1MReducedHistory
  4. CUBECubeSmart
    −$16.4MSold outHistory
  5. PYPLPayPal Holdings, Inc.
    −$12.1MSold outHistory

Largest weight decreases

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

  1. HONHoneywell International Inc
    −1.12 pp1.1% → 0.0%History
  2. FDXFedEx Corp
    −1.11 pp1.1% → <0.1%History
  3. RTXRTX Corp
    −0.84 pp2.1% → 1.3%History
  4. CUBECubeSmart
    −0.71 pp0.7% → 0.0%History
  5. PYPLPayPal Holdings, Inc.
    −0.52 pp0.5% → 0.0%History

Metrics

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

Portfolio value
$2.45B
+$128.6M (+5.5%) vs. prior quarter
Positions
123
−3 vs. prior quarter
Top 10 concentration
38.6%
Top 10 as share of value
Turnover
6.1%
Q2 2026, one quarter
Average holding period
16.5 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 $2.45B (Q2 2026)

Q1 2021: $1.18BQ2 2021: $1.25BQ3 2021: $1.28BQ4 2021: $1.40BQ1 2022: $1.38BQ2 2022: $1.18BQ3 2022: $1.19BQ4 2022: $1.28BQ1 2023: $1.53BQ2 2023: $1.59BQ3 2023: $1.57BQ4 2023: $1.75BQ1 2024: $1.93BQ2 2024: $1.94BQ3 2024: $2.07BQ4 2024: $2.06BQ1 2025: $2.03BQ2 2025: $2.22BQ3 2025: $2.36BQ4 2025: $2.40BQ1 2026: $2.32BQ2 2026: $2.45B
Q1 2021Q2 2026
13F filings of Davidson Investment Advisors by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 21, 2026123$2.45BiShares Core MSCI Total International Stock ETFGOOGAMZNvs. Q1 2026SEC
Q1 2026May 8, 2026Amended126$2.32BiShares Core MSCI Total International Stock ETFGOOGAMZNvs. Q4 2025SEC
Q4 2025Jan 27, 2026119$2.40BiShares Core MSCI Total International Stock ETFGOOGMSFTvs. Q3 2025SEC
Q3 2025Oct 21, 2025122$2.36BiShares Core MSCI Total International Stock ETFMSFTGOOGvs. Q2 2025SEC
Q2 2025Jul 28, 2025121$2.22BiShares Core MSCI Total International Stock ETFMSFTAMZNvs. Q1 2025SEC
Q1 2025Apr 30, 2025120$2.03BiShares TrMSFTAAPLvs. Q4 2024SEC
Q4 2024Jan 31, 2025122$2.06BGOOGAMZNiShares Trvs. Q3 2024SEC
Q3 2024Nov 13, 2024118$2.07BiShares TrMSFTAAPLvs. Q2 2024SEC
Q2 2024Jul 31, 2024116$1.94BiShares TrAMZNGOOGvs. Q1 2024SEC
Q1 2024May 13, 2024115$1.93BiShares TrAMZNMSFTvs. Q4 2023SEC
Q4 2023Feb 9, 2024114$1.75BiShares TrAMZNMSFTvs. Q3 2023SEC
Q3 2023Nov 9, 2023129$1.57BGOOGiShares TrMSFTvs. Q2 2023SEC
Q2 2023Aug 11, 2023112$1.59BAAPLMSFTAMZNvs. Q1 2023SEC
Q1 2023Aug 23, 2023Amended110$1.53BMSFTAAPLiShares Trvs. Q4 2022SEC
Q4 2022Feb 2, 202399$1.28BMSFTAAPLiShares Trvs. Q3 2022SEC
Q3 2022Nov 7, 2022100$1.19BMSFTAAPLAMZNvs. Q2 2022SEC
Q2 2022Jul 27, 202296$1.18BMSFTGOOGAAPLvs. Q1 2022SEC
Q1 2022May 12, 2022102$1.38BGOOGMSFTAAPLvs. Q4 2021SEC
Q4 2021Jan 28, 2022102$1.40BMSFTGOOGAAPLvs. Q3 2021SEC
Q3 2021Nov 3, 2021101$1.28BGOOGMSFTAAPLvs. Q2 2021SEC
Q2 2021Aug 10, 2021104$1.25BMSFTGOOGAAPLvs. Q1 2021SEC
Q1 2021May 7, 202198$1.18BMSFTGOOGAAPL–SEC