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Livermore
Livermore
ZHEN

Baltimore-Washington Financial Advisors, Inc.

SEC CIK
0001555486
Latest filing
Aug 13, 2026

The latest 13F from Baltimore-Washington Financial Advisors, Inc. covers Q2 2026 (filed Aug 13, 2026): 206 long positions worth $2.67B. The top 10 holdings make up 35.4% of the portfolio, and the largest is Vanguard Morningstar Large-Cap ETF at 5.0%. Livermore has 23 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
26
Est. +$125.1M
Added
89
Est. +$71.6M
Reduced
65
Est. −$106.9M
Sold out
6
Est. −$19.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Large-Cap ETF922908637
    5.0%$133.2M
  2. Invesco QQQ Trust Series I46090E103
    5.0%$133.1M
  3. Invesco S&P 500 Equal Weight Technology ETF46137V282
    4.2%$112.4M
  4. NVDANVIDIA Corp
    4.1%$110.5MHistory
  5. iShares Core S&P 500 ETF464287200
    3.1%$82.6M

Share of portfolio

Top 5 holdings and the other 201 positions, by share of portfolio value

  1. Vanguard Morningstar Large-Cap ETF5.0%
  2. Invesco QQQ Trust Series I5.0%
  3. Invesco S&P 500 Equal Weight Technology ETF4.2%
  4. NVDA4.1%
  5. iShares Core S&P 500 ETF3.1%
  6. Other 201 positions78.6%

Biggest buys

New and added positions, by estimated amount bought

  1. Invesco Exch Traded FD Tr II46138E339
    +$43.3MNew
  2. Invesco S&P 500 Quality ETF46137V241
    +$42.8MNew
  3. Invesco Exch Traded FD Tr II46138E628
    +$29.4MNew
  4. Schwab US Dividend Equity ETF808524797
    +$17.2MAdded
  5. Vanguard Morningstar Value ETF922908744
    +$5.30MAdded

Largest weight increases

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

  1. Invesco Exch Traded FD Tr II46138E339
    +1.62 pp0.0% → 1.6%
  2. Invesco S&P 500 Quality ETF46137V241
    +1.60 pp0.0% → 1.6%
  3. Invesco Exch Traded FD Tr II46138E628
    +1.10 pp0.0% → 1.1%
  4. Invesco S&P 500 Equal Weight Technology ETF46137V282
    +0.89 pp3.3% → 4.2%
  5. CRWDCrowdStrike Holdings, Inc.
    +0.72 pp1.0% → 1.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPDR Series Trust78468R804
    −$40.0MReduced
  2. iShares Tr464287770
    −$28.3MReduced
  3. SPDR Series Trust78464A763
    −$17.9MSold out
  4. SYKStryker Corp
    −$16.4MReducedHistory
  5. HDHome Depot, Inc.
    −$5.32MReducedHistory

Largest weight decreases

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

  1. SPDR Series Trust78468R804
    −1.77 pp2.3% → 0.6%
  2. iShares Tr464287770
    −1.14 pp1.5% → 0.4%
  3. SYKStryker Corp
    −0.81 pp1.2% → 0.4%History
  4. SPDR Series Trust78464A763
    −0.77 pp0.8% → 0.0%
  5. State Street Communication Services Select Sector SPDR ETF81369Y852
    −0.51 pp2.3% → 1.8%

Metrics

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

Portfolio value
$2.67B
+$357.0M (+15.4%) vs. prior quarter
Positions
206
+20 vs. prior quarter
Top 10 concentration
35.4%
Top 10 as share of value
Turnover
5.1%
Q2 2026, one quarter
Average holding period
17.4 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 $2.67B (Q2 2026)

Q1 2021: $981.7MQ2 2021: $1.07BQ3 2021: $1.14BQ4 2021: $1.24BQ1 2022: $983.5MQ2 2022: $934.4MQ3 2022: $1.16BQ4 2022: $1.02BQ1 2023: $1.13BQ2 2023: $1.25BQ3 2023: $1.23BQ4 2023: $1.44BQ1 2024: $1.61BQ2 2024: $1.73BQ3 2024: $1.86BQ4 2024: $1.95BQ1 2025: $1.88BQ2 2025: $2.15BQ3 2025: $2.33BQ4 2025: $2.40BQ1 2026: $2.32BQ2 2026: $2.67B
Q1 2021Q2 2026
13F filings of Baltimore-Washington Financial Advisors, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 2026206$2.67BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IInvesco S&P 500 Equal Weight Technology ETFvs. Q1 2026SEC
Q1 2026May 15, 2026186$2.32BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q4 2025SEC
Q4 2025Feb 13, 2026188$2.40BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q3 2025SEC
Q3 2025Nov 12, 2025177$2.33BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q2 2025SEC
Q2 2025Aug 13, 2025171$2.15BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q1 2025SEC
Q1 2025May 14, 2025154$1.88BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IInvesco Exchange Traded FD Tvs. Q4 2024SEC
Q4 2024Jan 24, 2025153$1.95BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q3 2024SEC
Q3 2024Nov 12, 2024148$1.86BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q2 2024SEC
Q2 2024Jul 30, 2024140$1.73BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series INVDAvs. Q1 2024SEC
Q1 2024May 8, 2024126$1.61BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IInvesco Exchange Traded FD Tvs. Q4 2023SEC
Q4 2023Feb 12, 2024143$1.44BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IInvesco Exchange Traded FD Tvs. Q3 2023SEC
Q3 2023Nov 8, 2023143$1.23BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IInvesco Exchange Traded FD Tvs. Q2 2023SEC
Q2 2023Aug 9, 2023135$1.25BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IInvesco Exchange Traded FD Tvs. Q1 2023SEC
Q1 2023May 10, 2023139$1.13BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IAAPLvs. Q4 2022SEC
Q4 2022Feb 9, 2023132$1.02BVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IVanguard Morningstar Value ETFvs. Q3 2022SEC
Q3 2022Oct 31, 2022147$1.16BVanguard Morningstar Large-Cap ETFVanguard Morningstar Value ETFVanguard Scottsdale FDSvs. Q2 2022SEC
Q2 2022Aug 5, 2022125$934.4MVanguard Morningstar Large-Cap ETFInvesco QQQ Trust Series IMSFTvs. Q1 2022SEC
Q1 2022May 13, 2022145$983.5MInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFMSFTvs. Q4 2021SEC
Q4 2021Apr 8, 2022Amended135$1.24BInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFMSFTvs. Q3 2021SEC
Q3 2021Oct 20, 2021127$1.14BInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFMSFTvs. Q2 2021SEC
Q2 2021Aug 12, 2021124$1.07BInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFMSFTvs. Q1 2021SEC
Q1 2021May 6, 2021122$981.7MInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFMSFT–SEC