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Livermore
Livermore
ZHEN

Baker Ellis Asset Management LLC

SEC CIK
0001365559
Latest filing
Jul 23, 2026

The latest 13F from Baker Ellis Asset Management LLC covers Q2 2026 (filed Jul 23, 2026): 265 long positions worth $964.1M. The top 10 holdings make up 35.2% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 8.4%. 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
21
Est. +$9.82M
Added
55
Est. +$17.4M
Reduced
98
Est. −$17.9M
Sold out
10
Est. −$4.79M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    8.4%$80.7M
  2. LRCXLam Research Corp
    4.8%$45.9MHistory
  3. STRLSterling Infrastructure, Inc.
    4.2%$40.8MHistory
  4. BRK.BBerkshire Hathaway Inc
    3.8%$37.1MHistory
  5. Vanguard Information Technology ETF92204A702
    3.1%$30.3M

Share of portfolio

Top 5 holdings and the other 260 positions, by share of portfolio value

  1. Vanguard Morningstar Total Stock Market ETF8.4%
  2. LRCX4.8%
  3. STRL4.2%
  4. BRK.B3.8%
  5. Vanguard Information Technology ETF3.1%
  6. Other 260 positions75.6%

Biggest buys

New and added positions, by estimated amount bought

  1. LINLinde PLC
    +$5.15MAddedHistory
  2. INTCIntel Corp
    +$3.18MNewHistory
  3. AMZNAmazon Com Inc
    +$2.79MAddedHistory
  4. Vanguard S&P 500 ETF922908363
    +$1.51MAdded
  5. BRK.BBerkshire Hathaway Inc
    +$1.20MAddedHistory

Largest weight increases

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

  1. LINLinde PLC
    +0.52 pp0.1% → 0.6%History
  2. INTCIntel Corp
    +0.33 pp0.0% → 0.3%History
  3. AMZNAmazon Com Inc
    +0.29 pp0.7% → 0.9%History
  4. ONOn Semiconductor Corp
    +0.25 pp0.6% → 0.8%History
  5. TKRTimken Co
    +0.22 pp0.8% → 1.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LRCXLam Research Corp
    −$2.87MReducedHistory
  2. STRLSterling Infrastructure, Inc.
    −$2.36MReducedHistory
  3. HONHoneywell International Inc
    −$1.93MSold outHistory
  4. Goldman Sachs ETF Tr381430529
    −$1.76MReduced
  5. Vanguard Morningstar Total Stock Market ETF922908769
    −$1.50MReduced

Largest weight decreases

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

  1. XOMExxonMobil Holdings Corp
    −0.43 pp1.4% → 1.0%History
  2. Goldman Sachs ETF Tr381430529
    −0.33 pp1.2% → 0.9%
  3. iShares Tr46436E718
    −0.30 pp1.3% → 1.0%
  4. Fidelity Merrimack STR Tr316188309
    −0.29 pp2.0% → 1.7%
  5. Dimensional ETF Trust25434V781
    −0.28 pp2.5% → 2.2%

Metrics

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

Portfolio value
$964.1M
+$121.6M (+14.4%) vs. prior quarter
Positions
265
+11 vs. prior quarter
Top 10 concentration
35.2%
Top 10 as share of value
Turnover
2.5%
Q2 2026, one quarter
Average holding period
17.8 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 $964.1M (Q2 2026)

Q1 2021: $463.0MQ2 2021: $510.5MQ3 2021: $519.2MQ4 2021: $566.7MQ1 2022: $558.9MQ2 2022: $481.1MQ3 2022: $458.8MQ4 2022: $516.0MQ1 2023: $558.5MQ2 2023: $588.1MQ3 2023: $556.9MQ4 2023: $623.9MQ1 2024: $671.6MQ2 2024: $663.7MQ3 2024: $706.8MQ4 2024: $679.6MQ1 2025: $693.0MQ2 2025: $728.6MQ3 2025: $812.0MQ4 2025: $831.0MQ1 2026: $842.5MQ2 2026: $964.1M
Q1 2021Q2 2026
13F filings of Baker Ellis Asset Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 23, 2026265$964.1MVanguard Morningstar Total Stock Market ETFLRCXSTRLvs. Q1 2026SEC
Q1 2026Apr 17, 2026254$842.5MVanguard Morningstar Total Stock Market ETFBRK.BLRCXvs. Q4 2025SEC
Q4 2025Jan 21, 2026260$831.0MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q3 2025SEC
Q3 2025Oct 23, 2025249$812.0MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q2 2025SEC
Q2 2025Jul 8, 2025216$728.6MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q1 2025SEC
Q1 2025Apr 15, 2025221$693.0MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q4 2024SEC
Q4 2024Jan 17, 2025215$679.6MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q3 2024SEC
Q3 2024Oct 15, 2024226$706.8MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q2 2024SEC
Q2 2024Jul 9, 2024210$663.7MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q1 2024SEC
Q1 2024Apr 17, 2024216$671.6MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q4 2023SEC
Q4 2023Jan 23, 2024216$623.9MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q3 2023SEC
Q3 2023Oct 24, 2023202$556.9MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q2 2023SEC
Q2 2023Aug 9, 2023206$588.1MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q1 2023SEC
Q1 2023May 8, 2023208$558.5MVanguard Morningstar Total Stock Market ETFBRK.BVanguard High Dividend Yield Index ETFvs. Q4 2022SEC
Q4 2022Feb 9, 2023208$516.0MVanguard Morningstar Total Stock Market ETFBRK.BVanguard High Dividend Yield Index ETFvs. Q3 2022SEC
Q3 2022Nov 14, 2022191$458.8MVanguard Morningstar Total Stock Market ETFBRK.BVanguard High Dividend Yield Index ETFvs. Q2 2022SEC
Q2 2022Jul 22, 2022201$481.1MVanguard Morningstar Total Stock Market ETFVanguard High Dividend Yield Index ETFBRK.Bvs. Q1 2022SEC
Q1 2022May 4, 2022210$558.9MVanguard Morningstar Total Stock Market ETFBRK.BMSFTvs. Q4 2021SEC
Q4 2021Jan 27, 2022207$566.7MVanguard Morningstar Total Stock Market ETFMSFTVanguard Information Technology ETFvs. Q3 2021SEC
Q3 2021Oct 15, 2021202$519.2MVanguard Morningstar Total Stock Market ETFMSFTVanguard Information Technology ETFvs. Q2 2021SEC
Q2 2021Aug 10, 2021195$510.5MVanguard Morningstar Total Stock Market ETFVanguard High Dividend Yield Index ETFVanguard Information Technology ETFvs. Q1 2021SEC
Q1 2021Apr 28, 2021188$463.0MVanguard Morningstar Total Stock Market ETFVanguard High Dividend Yield Index ETFVanguard Information Technology ETF–SEC