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Livermore
Livermore
ZHEN

Aspiriant, LLC

SEC CIK
0001433541
Latest filing
Jul 20, 2026

The latest 13F from Aspiriant, LLC covers Q2 2026 (filed Jul 20, 2026): 400 long positions worth $4.05B. The top 10 holdings make up 64.2% of the portfolio, and the largest is iShares Core S&P 500 ETF at 15.9%. 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
76
Est. +$26.8M
Added
186
Est. +$212.1M
Reduced
84
Est. −$22.0M
Sold out
14
Est. −$9.54M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    15.9%$644.5M
  2. Vanguard Morningstar Small-Cap Value ETF922908611
    10.5%$424.2M
  3. iShares Core S&P US Value ETF464287663
    10.0%$406.0M
  4. iShares Inc464286525
    7.2%$292.5M
  5. Vanguard Dividend Appreciation ETF921908844
    5.6%$226.0M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$148.8MAdded
  2. iShares Core U.S. Aggregate Bond ETF464287226
    +$3.91MAdded
  3. Fidelity Merrimack STR Tr316188309
    +$3.84MAdded
  4. Vanguard Morningstar Total Stock Market ETF922908769
    +$3.34MAdded
  5. Engine No 1 ETF Trust29287L106
    +$3.14MAdded

Largest weight increases

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

  1. iShares Core S&P 500 ETF464287200
    +3.60 pp12.3% → 15.9%
  2. Vanguard Morningstar Total Stock Market ETF922908769
    +0.08 pp0.9% → 0.9%
  3. GOOGLAlphabet Inc.
    +0.08 pp0.6% → 0.6%History
  4. Engine No 1 ETF Trust29287L106
    +0.08 pp0.3% → 0.4%
  5. WisdomTree Tr97717W307
    +0.06 pp0.2% → 0.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Malvern FDS922020805
    −$4.10MSold out
  2. NVDANVIDIA Corp
    −$2.30MReducedHistory
  3. BRK.ABerkshire Hathaway Inc
    −$2.25MReducedHistory
  4. CSCOCisco Systems, Inc.
    −$1.46MReducedHistory
  5. WisdomTree Tr97717W315
    −$1.31MReduced

Largest weight decreases

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

  1. iShares Inc464286525
    −1.08 pp8.3% → 7.2%
  2. Vanguard Dividend Appreciation ETF921908844
    −0.27 pp5.9% → 5.6%
  3. iShares Tr464288877
    −0.26 pp2.3% → 2.0%
  4. iShares Tr464288414
    −0.13 pp0.9% → 0.7%
  5. Vanguard Malvern FDS922020805
    −0.12 pp0.1% → 0.0%

Metrics

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

Portfolio value
$4.05B
+$539.7M (+15.4%) vs. prior quarter
Positions
400
+62 vs. prior quarter
Top 10 concentration
64.2%
Top 10 as share of value
Turnover
0.8%
Q2 2026, one quarter
Average holding period
21.1 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 $4.05B (Q2 2026)

Q1 2021: $1.56BQ2 2021: $1.77BQ3 2021: $1.70BQ4 2021: $1.87BQ1 2022: $1.82BQ2 2022: $2.07BQ3 2022: $2.04BQ4 2022: $1.96BQ1 2023: $1.91BQ2 2023: $1.98BQ3 2023: $1.95BQ4 2023: $2.22BQ1 2024: $2.42BQ2 2024: $2.45BQ3 2024: $2.63BQ4 2024: $2.77BQ1 2025: $2.88BQ2 2025: $3.15BQ3 2025: $3.27BQ4 2025: $3.48BQ1 2026: $3.51BQ2 2026: $4.05B
Q1 2021Q2 2026
13F filings of Aspiriant, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 20, 2026400$4.05BiShares Core S&P 500 ETFVanguard Morningstar Small-Cap Value ETFiShares Core S&P US Value ETFvs. Q1 2026SEC
Q1 2026May 12, 2026338$3.51BiShares Core S&P 500 ETFVanguard Morningstar Small-Cap Value ETFiShares Core S&P US Value ETFvs. Q4 2025SEC
Q4 2025Jan 20, 2026319$3.48BiShares Core S&P 500 ETFiShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q3 2025SEC
Q3 2025Oct 24, 2025297$3.27BiShares Core S&P 500 ETFiShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q2 2025SEC
Q2 2025Jul 29, 2025308$3.15BiShares Core S&P 500 ETFiShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q1 2025SEC
Q1 2025Apr 21, 2025288$2.88BiShares Core S&P 500 ETFiShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q4 2024SEC
Q4 2024Jan 16, 2025287$2.77BiShares Core S&P 500 ETFiShares Core S&P US Value ETFiShares Incvs. Q3 2024SEC
Q3 2024Oct 17, 2024291$2.63BiShares InciShares Core S&P US Value ETFVanguard Mun BD FDSvs. Q2 2024SEC
Q2 2024Jul 15, 2024280$2.45BVanguard Mun BD FDSiShares InciShares Core S&P US Value ETFvs. Q1 2024SEC
Q1 2024Apr 15, 2024316$2.42BiShares IncVanguard Mun BD FDSiShares Core S&P US Value ETFvs. Q4 2023SEC
Q4 2023Jan 26, 2024307$2.22BVanguard Mun BD FDSiShares InciShares Core S&P US Value ETFvs. Q3 2023SEC
Q3 2023Oct 18, 2023280$1.95BiShares IncVanguard Mun BD FDSiShares Core S&P US Value ETFvs. Q2 2023SEC
Q2 2023Jul 19, 2023284$1.98BiShares IncVanguard Mun BD FDSiShares Core S&P US Value ETFvs. Q1 2023SEC
Q1 2023Apr 27, 2023276$1.91BiShares IncVanguard Mun BD FDSiShares Core S&P US Value ETFvs. Q4 2022SEC
Q4 2022Jan 23, 2023278$1.96BVanguard Mun BD FDSiShares InciShares Core S&P US Value ETFvs. Q3 2022SEC
Q3 2022Oct 28, 2022262$2.04BiShares IncVanguard Mun BD FDSVanguard Dividend Appreciation ETFvs. Q2 2022SEC
Q2 2022Jul 25, 2022274$2.07BiShares IncVanguard Mun BD FDSiShares Core S&P US Value ETFvs. Q1 2022SEC
Q1 2022May 6, 2022274$1.82BiShares InciShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q4 2021SEC
Q4 2021Feb 14, 2022281$1.87BiShares InciShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q3 2021SEC
Q3 2021Oct 27, 2021232$1.70BiShares InciShares Core S&P US Value ETFVanguard Morningstar Small-Cap Value ETFvs. Q2 2021SEC
Q2 2021Aug 13, 2021232$1.77BiShares IncVanguard Morningstar Small-Cap Value ETFiShares Core S&P US Value ETFvs. Q1 2021SEC
Q1 2021May 11, 2021201$1.56BiShares IncVanguard Morningstar Small-Cap Value ETFiShares Core S&P US Value ETF–SEC