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Livermore
Livermore
ZHEN

Sippican Capital Advisors

SEC CIK
0001557406
Latest filing
Jul 22, 2026

The latest 13F from Sippican Capital Advisors covers Q2 2026 (filed Jul 22, 2026): 111 long positions worth $163.9M. The top 10 holdings make up 26.8% of the portfolio, and the largest is Bancorp, Inc. (TBBK) at 5.6%. 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
7
Est. +$3.98M
Added
20
Est. +$5.06M
Reduced
44
Est. −$4.94M
Sold out
3
Est. −$2.12M

Top 5 holdings

Share of this quarter's portfolio value

  1. TBBKBancorp, Inc.
    5.6%$9.15MHistory
  2. GEGeneral Electric Co
    3.4%$5.52MHistory
  3. TFINTriumph Financial, Inc.
    3.3%$5.36MHistory
  4. GOOGAlphabet Inc.
    2.3%$3.70MHistory
  5. BMYBristol Myers Squibb Co
    2.1%$3.50MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. IBMInternational Business Machines Corp
    +$2.25MAddedHistory
  2. DVNDevon Energy Corp
    +$1.43MNewHistory
  3. MTHMeritage Homes CORP
    +$942.2KAddedHistory
  4. NFLXNetflix Inc
    +$923.1KNewHistory
  5. BLDRBuilders FirstSource, Inc.
    +$802.2KNewHistory

Largest weight increases

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

  1. IBMInternational Business Machines Corp
    +1.38 pp0.2% → 1.5%History
  2. DVNDevon Energy Corp
    +0.87 pp0.0% → 0.9%History
  3. MTHMeritage Homes CORP
    +0.65 pp0.3% → 1.0%History
  4. NFLXNetflix Inc
    +0.56 pp0.0% → 0.6%History
  5. BLDRBuilders FirstSource, Inc.
    +0.49 pp0.0% → 0.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CTRACoterra Energy Inc.
    −$1.90MSold outHistory
  2. EQBKEquity Bancshares Inc
    −$1.01MReducedHistory
  3. WALWestern Alliance Bancorporation
    −$660.5KReducedHistory
  4. FANGDiamondback Energy, Inc.
    −$340.3KReducedHistory
  5. CFCF Industries Holdings, Inc.
    −$339.1KReducedHistory

Largest weight decreases

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

  1. CTRACoterra Energy Inc.
    −1.30 pp1.3% → 0.0%History
  2. XOMExxonMobil Holdings Corp
    −0.94 pp2.9% → 1.9%History
  3. CVXChevron Corp
    −0.79 pp2.5% → 1.7%History
  4. EQBKEquity Bancshares Inc
    −0.63 pp0.8% → 0.2%History
  5. FANGDiamondback Energy, Inc.
    −0.50 pp1.4% → 0.9%History

Metrics

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

Portfolio value
$163.9M
+$17.8M (+12.2%) vs. prior quarter
Positions
111
+4 vs. prior quarter
Top 10 concentration
26.8%
Top 10 as share of value
Turnover
4.6%
Q2 2026, one quarter
Average holding period
16.8 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 $163.9M (Q2 2026)

Q1 2021: $108.2MQ2 2021: $115.0MQ3 2021: $115.4MQ4 2021: $117.7MQ1 2022: $120.5MQ2 2022: $100.8MQ3 2022: $95.9MQ4 2022: $104.5MQ1 2023: $104.6MQ2 2023: $108.4MQ3 2023: $109.0MQ4 2023: $127.5MQ1 2024: $128.6MQ2 2024: $126.4MQ3 2024: $143.3MQ4 2024: $137.3MQ1 2025: $132.7MQ2 2025: $137.7MQ3 2025: $151.3MQ4 2025: $155.6MQ1 2026: $146.1MQ2 2026: $163.9M
Q1 2021Q2 2026
13F filings of Sippican Capital Advisors by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 22, 2026111$163.9MTBBKGETFINvs. Q1 2026SEC
Q1 2026Apr 23, 2026107$146.1MTBBKGETFINvs. Q4 2025SEC
Q4 2025Jan 23, 2026113$155.6MTBBKGETFINvs. Q3 2025SEC
Q3 2025Oct 27, 2025114$151.3MTBBKGENVRvs. Q2 2025SEC
Q2 2025Jul 25, 2025112$137.7MTBBKGENVRvs. Q1 2025SEC
Q1 2025Apr 28, 2025109$132.7MTBBKNVRXOMvs. Q4 2024SEC
Q4 2024Jan 23, 2025112$137.3MTBBKNVRTFINvs. Q3 2024SEC
Q3 2024Oct 28, 2024113$143.3MTBBKNVREa Series Trustvs. Q2 2024SEC
Q2 2024Aug 6, 2024113$126.4MTBBKNVRXOMvs. Q1 2024SEC
Q1 2024May 2, 2024114$128.6MTBBKNVRFidelity Tr 500 Index Ins Premvs. Q4 2023SEC
Q4 2023Jan 30, 2024117$127.5MTBBKNVRCVXvs. Q3 2023SEC
Q3 2023Oct 24, 2023105$109.0MTBBKCVXNVRvs. Q2 2023SEC
Q2 2023Aug 15, 2023102$108.4MTBBKNVRCVXvs. Q1 2023SEC
Q1 2023Jul 14, 2023100$104.6MTBBKCVXNVRvs. Q4 2022SEC
Q4 2022Jan 26, 202399$104.5MTBBKCVXABBVvs. Q3 2022SEC
Q3 2022Oct 17, 202299$95.9MTBBKCVXNVRvs. Q2 2022SEC
Q2 2022Jul 19, 2022101$100.8MTBBKCVXABBVvs. Q1 2022SEC
Q1 2022Apr 20, 2022110$120.5MTBBKCVXABBVvs. Q4 2021SEC
Q4 2021Jan 19, 2022108$117.7MTBBKNVRCVXvs. Q3 2021SEC
Q3 2021Oct 20, 2021112$115.4MTBBKNVRCVXvs. Q2 2021SEC
Q2 2021Jul 22, 2021114$115.0MTBBKNVRCVXvs. Q1 2021SEC
Q1 2021Apr 15, 2021112$108.2MTBBKNVRCVX–SEC