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Cambridge Investment Research Advisors, Inc.

SEC CIK
0001419186
Latest filing
Nov 2, 2026

The latest 13F from Cambridge Investment Research Advisors, Inc. covers Q3 2026 (filed Nov 2, 2026): 4,033 long positions worth $45.2B. The top 10 holdings make up 20.1% of the portfolio, and the largest is Vanguard S&P 500 ETF at 3.2%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2026

Full comparison

Share counts compared with Q2 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.

New
245
Est. +$275.0M
Added
1861
Est. +$2.06B
Reduced
1839
Est. −$1.53B
Sold out
255
Est. −$242.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    3.2%$1.43B
  2. AAPLApple Inc.
    3.2%$1.43BHistory
  3. NVDANVIDIA Corp
    2.8%$1.28BHistory
  4. Invesco QQQ Trust Series I46090E103
    2.1%$936.5M
  5. iShares Core S&P 500 ETF464287200
    1.9%$880.7M

Share of portfolio

Top 5 holdings and the other 4,028 positions, by share of portfolio value

  1. Vanguard S&P 500 ETF3.2%
  2. AAPL3.2%
  3. NVDA2.8%
  4. Invesco QQQ Trust Series I2.1%
  5. iShares Core S&P 500 ETF1.9%
  6. Other 4,028 positions86.8%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr46436E718
    +$93.0MAdded
  2. Invesco Nasdaq 100 ETF46138G649
    +$51.3MAdded
  3. SPCXSpace Exploration Technologies Corp
    +$46.6MAddedHistory
  4. Vanguard Ftse Emerging Markets ETF922042858
    +$38.7MAdded
  5. First Tr Exchange-Traded FD33733E690
    +$31.1MAdded

Largest weight increases

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

  1. iShares Tr46436E718
    +0.20 pp0.2% → 0.4%
  2. Invesco Nasdaq 100 ETF46138G649
    +0.11 pp0.5% → 0.6%
  3. SPCXSpace Exploration Technologies Corp
    +0.09 pp0.1% → 0.2%History
  4. Vanguard Ftse Emerging Markets ETF922042858
    +0.08 pp0.2% → 0.2%
  5. State Street Energy Select Sector SPDR ETF81369Y506
    +0.08 pp0.1% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Profesionally Managed Portfo74316P579
    −$39.7MReduced
  2. BRK.BBerkshire Hathaway Inc
    −$35.7MReducedHistory
  3. GLDSPDR Gold Trust
    −$28.6MReducedHistory
  4. State Street Technology Select Sector SPDR ETF81369Y803
    −$27.1MReduced
  5. iShares Tips Bond ETF464287176
    −$26.3MReduced

Largest weight decreases

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

  1. BRK.BBerkshire Hathaway Inc
    −0.09 pp0.8% → 0.7%History
  2. Profesionally Managed Portfo74316P579
    −0.09 pp0.1% → <0.1%
  3. TSLATesla, Inc.
    −0.09 pp0.5% → 0.4%History
  4. AMATApplied Materials Inc
    −0.08 pp0.2% → 0.1%History
  5. Vanguard Ftse Developed Markets ETF921943858
    −0.07 pp0.6% → 0.6%

Metrics

13F metrics for Q3 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$45.2B
+$616.2M (+1.4%) vs. prior quarter
Positions
4,033
−10 vs. prior quarter
Top 10 concentration
20.1%
Top 10 as share of value
Turnover
4.0%
Q3 2026, one quarter
Average holding period
20.7 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

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

Peak $45.2B (Q3 2026)

Q1 2021: $18.4BQ2 2021: $20.9BQ3 2021: $20.3BQ4 2021: $22.4BQ1 2022: $21.8BQ2 2022: $18.6BQ3 2022: $17.7BQ4 2022: $19.3BQ1 2023: $20.4BQ2 2023: $21.9BQ3 2023: $21.4BQ4 2023: $23.5BQ1 2024: $26.0BQ2 2024: $27.1BQ3 2024: $29.4BQ4 2024: $29.9BQ1 2025: $29.6BQ2 2025: $32.9BQ3 2025: $36.4BQ4 2025: $37.8BQ1 2026: $38.8BQ2 2026: $44.6BQ3 2026: $45.2B
Q1 2021Q3 2026
13F filings of Cambridge Investment Research Advisors, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2026Nov 2, 20264,033$45.2BVanguard S&P 500 ETFAAPLNVDAvs. Q2 2026SEC
Q2 2026Jul 30, 2026Amended4,043$44.6BVanguard S&P 500 ETFAAPLNVDAvs. Q1 2026SEC
Q1 2026Apr 30, 20263,924$38.8BVanguard S&P 500 ETFAAPLNVDAvs. Q4 2025SEC
Q4 2025Feb 5, 20263,812$37.8BVanguard S&P 500 ETFAAPLNVDAvs. Q3 2025SEC
Q3 2025Nov 12, 20253,715$36.4BVanguard S&P 500 ETFAAPLNVDAvs. Q2 2025SEC
Q2 2025Jul 31, 20253,608$32.9BVanguard S&P 500 ETFAAPLNVDAvs. Q1 2025SEC
Q1 2025Apr 22, 20253,495$29.6BAAPLVanguard S&P 500 ETFInvesco QQQ Trust Series Ivs. Q4 2024SEC
Q4 2024Feb 14, 20253,460$29.9BAAPLVanguard S&P 500 ETFNVDAvs. Q3 2024SEC
Q3 2024Oct 28, 20243,409$29.4BAAPLVanguard S&P 500 ETFNVDAvs. Q2 2024SEC
Q2 2024Jul 26, 20243,309$27.1BAAPLVanguard S&P 500 ETFNVDAvs. Q1 2024SEC
Q1 2024Apr 24, 20243,302$26.0BVanguard S&P 500 ETFAAPLInvesco QQQ Trust Series Ivs. Q4 2023SEC
Q4 2023Feb 9, 20243,184$23.5BAAPLVanguard S&P 500 ETFInvesco QQQ Trust Series Ivs. Q3 2023SEC
Q3 2023Oct 24, 20233,133$21.4BAAPLVanguard S&P 500 ETFiShares Core S&P 500 ETFvs. Q2 2023SEC
Q2 2023Jul 13, 20233,165$21.9BAAPLVanguard S&P 500 ETFiShares Core S&P 500 ETFvs. Q1 2023SEC
Q1 2023May 11, 20233,149$20.4BAAPLVanguard S&P 500 ETFiShares Core S&P 500 ETFvs. Q4 2022SEC
Q4 2022Feb 8, 20233,099$19.3BAAPLVanguard S&P 500 ETFiShares Core S&P 500 ETFvs. Q3 2022SEC
Q3 2022Oct 17, 20223,050$17.7BAAPLVanguard S&P 500 ETFiShares Core S&P 500 ETFvs. Q2 2022SEC
Q2 2022Jul 13, 20223,040$18.6BAAPLVanguard S&P 500 ETFVanguard Star FDSvs. Q1 2022SEC
Q1 2022May 12, 20223,156$21.8BAAPLVanguard S&P 500 ETFInvesco QQQ Trust Series Ivs. Q4 2021SEC
Q4 2021Feb 3, 20223,165$22.4BAAPLVanguard S&P 500 ETFInvesco QQQ Trust Series Ivs. Q3 2021SEC
Q3 2021Nov 2, 20213,083$20.3BVanguard S&P 500 ETFAAPLVanguard Star FDSvs. Q2 2021SEC
Q2 2021Aug 10, 20213,083$20.9BVanguard S&P 500 ETFAAPLVanguard Star FDSvs. Q1 2021SEC
Q1 2021May 7, 20212,861$18.4BVanguard S&P 500 ETFAAPLVanguard Star FDS–SEC