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Livermore
Livermore
ZHEN

Tiff Advisory Services Inc

SEC CIK
0001271347
Latest filing
Jul 29, 2026

The latest 13F from Tiff Advisory Services Inc covers Q2 2026 (filed Jul 29, 2026): 19 long positions worth $407.9M. The top 10 holdings make up 89.6% of the portfolio, and the largest is Vanguard Total World Stock ETF at 23.2%. 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
0
Added
5
Est. +$6.52M
Reduced
12
Est. −$61.9M
Sold out
6
Est. −$11.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Total World Stock ETF922042742
    23.2%$94.4M
  2. Invesco Exch Traded FD Tr II46138E628
    11.7%$47.6M
  3. State Street Financial Select Sector SPDR ETF81369Y605
    11.1%$45.5M
  4. Vanguard Long-Term Treasury ETF92206C847
    10.1%$41.3M
  5. AAPLApple Inc.
    9.8%$39.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. GOOGAlphabet Inc.
    +$4.76MAddedHistory
  2. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +$1.40MAdded
  3. SPDR Series Trust78468R796
    +$241.5KAdded
  4. SPDR Index Shs FDS78470E106
    +$73.9KAdded
  5. SPDR Index Shs FDS78470E205
    +$47.1KAdded

Largest weight increases

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

  1. GOOGAlphabet Inc.
    +1.77 pp1.9% → 3.7%History
  2. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +0.58 pp3.3% → 3.8%
  3. SPDR Series Trust78468R796
    +0.30 pp1.0% → 1.3%
  4. SPDR Index Shs FDS78470E106
    +0.08 pp0.4% → 0.4%
  5. SPDR Index Shs FDS78470E205
    +0.06 pp0.2% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street Financial Select Sector SPDR ETF81369Y605
    −$38.1MReduced
  2. NVDANVIDIA Corp
    −$8.43MReducedHistory
  3. State Street Energy Select Sector SPDR ETF81369Y506
    −$7.60MReduced
  4. AMZNAmazon Com Inc
    −$3.10MSold outHistory
  5. VVisa Inc.
    −$2.92MSold outHistory

Largest weight decreases

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

  1. State Street Financial Select Sector SPDR ETF81369Y605
    −6.49 pp17.6% → 11.1%
  2. State Street Energy Select Sector SPDR ETF81369Y506
    −2.04 pp2.5% → 0.4%
  3. NVDANVIDIA Corp
    −0.72 pp5.9% → 5.2%History
  4. AMZNAmazon Com Inc
    −0.71 pp0.7% → 0.0%History
  5. VVisa Inc.
    −0.67 pp0.7% → 0.0%History

Metrics

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

Portfolio value
$407.9M
−$28.7M (−6.6%) vs. prior quarter
Positions
19
−6 vs. prior quarter
Top 10 concentration
89.6%
Top 10 as share of value
Turnover
1.5%
Q2 2026, one quarter
Average holding period
9.9 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 $581.0M (Q4 2025)

Q1 2021: $328.8MQ2 2021: $350.9MQ3 2021: $315.8MQ4 2021: $287.8MQ1 2022: $279.8MQ2 2022: $276.4MQ3 2022: $241.6MQ4 2022: $243.0MQ1 2023: $234.5MQ2 2023: $418.1MQ3 2023: $117.5MQ4 2023: $207.7MQ1 2024: $225.8MQ2 2024: $290.0MQ3 2024: $300.8MQ4 2024: $294.8MQ1 2025: $420.1MQ2 2025: $422.2MQ3 2025: $480.3MQ4 2025: $581.0MQ1 2026: $436.6MQ2 2026: $407.9M
Q1 2021Q2 2026
13F filings of Tiff Advisory Services Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 29, 202619$407.9MVanguard Total World Stock ETFInvesco Exch Traded FD Tr IIState Street Financial Select Sector SPDR ETFvs. Q1 2026SEC
Q1 2026May 12, 202625$436.6MVanguard Total World Stock ETFState Street Financial Select Sector SPDR ETFVanguard Long-Term Treasury ETFvs. Q4 2025SEC
Q4 2025Feb 9, 202624$581.0MState Street Financial Select Sector SPDR ETFState Street Technology Select Sector SPDR ETFVanguard Total World Stock ETFvs. Q3 2025SEC
Q3 2025Nov 6, 202522$480.3MState Street Financial Select Sector SPDR ETFNVDAVanguard Total World Stock ETFvs. Q2 2025SEC
Q2 2025Aug 8, 202518$422.2MState Street Financial Select Sector SPDR ETFVanguard Total World Stock ETFNVDAvs. Q1 2025SEC
Q1 2025May 13, 202518$420.1MVanguard Total World Stock ETFState Street Financial Select Sector SPDR ETFNVDAvs. Q4 2024SEC
Q4 2024Feb 6, 202518$294.8MNVDAState Street Financial Select Sector SPDR ETFVanguard Total World Stock ETFvs. Q3 2024SEC
Q3 2024Nov 5, 202419$300.8MVanguard Total World Stock ETFNVDAState Street Financial Select Sector SPDR ETFvs. Q2 2024SEC
Q2 2024Aug 7, 202425$290.0MVanguard Total World Stock ETFNVDAState Street Financial Select Sector SPDR ETFvs. Q1 2024SEC
Q1 2024May 10, 202421$225.8MState Street Health Care Select Sector SPDR ETFVanguard Total World Stock ETFState Street Technology Select Sector SPDR ETFvs. Q4 2023SEC
Q4 2023Feb 9, 202425$207.7MState Street Health Care Select Sector SPDR ETFState Street Technology Select Sector SPDR ETFVanguard Total World Stock ETFvs. Q3 2023SEC
Q3 2023Nov 8, 202320$117.5MState Street Financial Select Sector SPDR ETFVanguard Financials ETFState Street Technology Select Sector SPDR ETFvs. Q2 2023SEC
Q2 2023Aug 9, 202325$418.1MVanguard S&P 500 ETFVanguard Ftse Developed Markets ETFState Street Financial Select Sector SPDR ETFvs. Q1 2023SEC
Q1 2023May 10, 202322$234.5MState Street Financial Select Sector SPDR ETFState Street Energy Select Sector SPDR ETFVanguard Financials ETFvs. Q4 2022SEC
Q4 2022Feb 9, 202319$243.0MState Street Financial Select Sector SPDR ETFState Street Energy Select Sector SPDR ETFVanguard Financials ETFvs. Q3 2022SEC
Q3 2022Nov 10, 202222$241.6MState Street Financial Select Sector SPDR ETFGOOGLAMZNvs. Q2 2022SEC
Q2 2022Aug 5, 202222$276.4MState Street Financial Select Sector SPDR ETFTDGState Street Energy Select Sector SPDR ETFvs. Q1 2022SEC
Q1 2022May 10, 202215$279.8MState Street Financial Select Sector SPDR ETFNLSNVanguard Financials ETFvs. Q4 2021SEC
Q4 2021Feb 4, 202215$287.8MState Street Financial Select Sector SPDR ETFFISVTDGvs. Q3 2021SEC
Q3 2021Nov 5, 202115$315.8MState Street Financial Select Sector SPDR ETFVFISVvs. Q2 2021SEC
Q2 2021Aug 6, 202120$350.9MState Street Financial Select Sector SPDR ETFUPSTEBAYvs. Q1 2021SEC
Q1 2021May 7, 202120$328.8MState Street Financial Select Sector SPDR ETFVanguard Intl Equity Index FNLSN–SEC