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Livermore
Livermore
ZHEN

Adviser Investments LLC

SEC CIK
0001544576
Latest filing
Aug 7, 2026

The latest 13F from Adviser Investments LLC covers Q2 2026 (filed Aug 7, 2026): 645 long positions worth $10.4B. The top 10 holdings make up 51.6% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 11.1%. 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
54
Est. +$81.2M
Added
305
Est. +$559.8M
Reduced
189
Est. −$226.5M
Sold out
27
Est. −$71.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    11.1%$1.16B
  2. Vanguard Ftse Developed Markets ETF921943858
    10.3%$1.08B
  3. iShares Core U.S. Aggregate Bond ETF464287226
    8.7%$912.5M
  4. Vanguard Morningstar Value ETF922908744
    7.3%$762.7M
  5. Vanguard Ftse Emerging Markets ETF922042858
    2.7%$278.2M

Share of portfolio

Top 5 holdings and the other 640 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF11.1%
  2. Vanguard Ftse Developed Markets ETF10.3%
  3. iShares Core U.S. Aggregate Bond ETF8.7%
  4. Vanguard Morningstar Value ETF7.3%
  5. Vanguard Ftse Emerging Markets ETF2.7%
  6. Other 640 positions59.9%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +$56.7MAdded
  2. Vanguard Ftse Developed Markets ETF921943858
    +$34.6MAdded
  3. Invesco QQQ Trust Series I46090E103
    +$26.8MAdded
  4. iShares Russell 1000 Value ETF464287598
    +$24.4MAdded
  5. XOMExxonMobil Holdings Corp
    +$23.9MAddedHistory

Largest weight increases

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

  1. Vanguard Morningstar Growth ETF922908736
    +0.60 pp10.5% → 11.1%
  2. The Alger ETF Trust015564404
    +0.48 pp1.7% → 2.2%
  3. Invesco QQQ Trust Series I46090E103
    +0.28 pp0.2% → 0.4%
  4. iShares Russell 1000 Value ETF464287598
    +0.23 pp0.1% → 0.3%
  5. LLYEli Lilly & Co
    +0.20 pp0.7% → 0.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Scottsdale FDS92206C102
    −$36.9MReduced
  2. HONHoneywell International Inc
    −$28.7MSold outHistory
  3. Vanguard High Dividend Yield Index ETF921946406
    −$25.7MReduced
  4. iShares MSCI USA Min Vol Factor ETF46429B697
    −$22.8MReduced
  5. QCOMQualcomm Inc
    −$18.0MReducedHistory

Largest weight decreases

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

  1. Vanguard Scottsdale FDS92206C102
    −0.78 pp3.3% → 2.5%
  2. iShares Tr464288414
    −0.39 pp2.7% → 2.3%
  3. HONHoneywell International Inc
    −0.31 pp0.3% → 0.0%History
  4. Vanguard High Dividend Yield Index ETF921946406
    −0.28 pp0.5% → 0.2%
  5. iShares MSCI USA Min Vol Factor ETF46429B697
    −0.24 pp0.2% → <0.1%

Metrics

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

Portfolio value
$10.4B
+$1.31B (+14.3%) vs. prior quarter
Positions
645
+27 vs. prior quarter
Top 10 concentration
51.6%
Top 10 as share of value
Turnover
3.0%
Q2 2026, one quarter
Average holding period
18.1 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 $10.4B (Q2 2026)

Q1 2021: $1.24BQ2 2021: $1.34BQ3 2021: $1.34BQ4 2021: $1.49BQ1 2022: $1.55BQ2 2022: $1.48BQ3 2022: $1.42BQ4 2022: $4.02BQ1 2023: $4.17BQ2 2023: $4.57BQ3 2023: $4.59BQ4 2023: $7.01BQ1 2024: $7.43BQ2 2024: $7.58BQ3 2024: $8.01BQ4 2024: $8.12BQ1 2025: $7.93BQ2 2025: $7.99BQ3 2025: $8.80BQ4 2025: $9.15BQ1 2026: $9.14BQ2 2026: $10.4B
Q1 2021Q2 2026
13F filings of Adviser Investments LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 7, 2026645$10.4BVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2026SEC
Q1 2026May 13, 2026618$9.14BVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2025SEC
Q4 2025Feb 12, 2026601$9.15BVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2025SEC
Q3 2025Nov 10, 2025604$8.80BVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2025SEC
Q2 2025Aug 6, 2025586$7.99BVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2025SEC
Q1 2025May 13, 2025541$7.93BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2024SEC
Q4 2024Feb 12, 2025557$8.12BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2024SEC
Q3 2024Nov 8, 2024559$8.01BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2024SEC
Q2 2024Aug 12, 2024543$7.58BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2024SEC
Q1 2024Apr 29, 2024534$7.43BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2023SEC
Q4 2023Feb 1, 2024516$7.01BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2023SEC
Q3 2023Oct 11, 2023374$4.59BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2023SEC
Q2 2023Aug 4, 2023327$4.57BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2023SEC
Q1 2023Apr 26, 2023255$4.17BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2022SEC
Q4 2022Jan 19, 2023258$4.02BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2022SEC
Q3 2022Oct 14, 2022242$1.42BVanguard Total Bond Market ETFVanguard Wellington FDVanguard Mun BD FDSvs. Q2 2022SEC
Q2 2022Jul 14, 2022239$1.48BVanguard Total Bond Market ETFVanguard Wellington FDVanguard Mun BD FDSvs. Q1 2022SEC
Q1 2022May 4, 2022252$1.55BVanguard Total Bond Market ETFVanguard Mun BD FDSiShares Core S&P 500 ETFvs. Q4 2021SEC
Q4 2021Jan 31, 2022248$1.49BiShares Core S&P 500 ETFVanguard Dividend Appreciation ETFVanguard Total Bond Market ETFvs. Q3 2021SEC
Q3 2021Nov 5, 2021237$1.34BVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Mun BD FDSvs. Q2 2021SEC
Q2 2021Jul 9, 2021242$1.34BiShares Core S&P 500 ETFVanguard Dividend Appreciation ETFVanguard Mun BD FDSvs. Q1 2021SEC
Q1 2021May 5, 2021238$1.24BiShares Core S&P 500 ETFVanguard Dividend Appreciation ETFVanguard Mun BD FDS–SEC