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Livermore
Livermore
ZHEN

Raffa Wealth Management, LLC

SEC CIK
0001631073
Latest filing
Jul 27, 2026

The latest 13F from Raffa Wealth Management, LLC covers Q2 2026 (filed Jul 27, 2026): 1,591 long positions worth $793.3M. The top 10 holdings make up 69.7% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 11.3%. Livermore has 51 filings on Form 13F from this institution, going back to Q4 2013.

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
173
Est. +$4.34M
Added
649
Est. +$118.0M
Reduced
316
Est. −$7.91M
Sold out
100
Est. −$5.87M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    11.3%$89.3M
  2. iShares Tr46436E718
    8.8%$69.9M
  3. Vanguard Ftse Developed Markets ETF921943858
    7.8%$61.5M
  4. American Centy ETF Tr025072885
    7.3%$57.7M
  5. Vanguard Total Bond Market ETF921937835
    6.7%$53.5M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +$24.3MAdded
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$11.0MAdded
  3. iShares Tr464288646
    +$9.15MAdded
  4. Vanguard Total Bond Market ETF921937835
    +$7.24MAdded
  5. Vanguard BD Index FDS92203C303
    +$6.32MAdded

Largest weight increases

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

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +2.46 pp8.8% → 11.3%
  2. Vanguard Scottsdale FDS92206C102
    +0.62 pp0.4% → 1.1%
  3. Vanguard Ftse All-World Ex-US Index Fund922042775
    +0.54 pp0.4% → 0.9%
  4. SPDR Series Trust78464A656
    +0.51 pp0.0% → 0.5%
  5. American Centy ETF Tr025072885
    +0.29 pp7.0% → 7.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares MSCI Acwi Ex U.S. ETF464288240
    −$3.77MSold out
  2. Vanguard Morningstar Value ETF922908744
    −$3.18MReduced
  3. Vanguard Morningstar Growth ETF922908736
    −$1.99MSold outConverted for a 6-for-1 split
  4. Vanguard Morningstar Mid-Cap ETF922908629
    −$1.15MReducedConverted for a 4-for-1 split
  5. Vanguard Morningstar Small-Cap Value ETF922908611
    −$902.1KReduced

Largest weight decreases

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

  1. iShares MSCI Acwi Ex U.S. ETF464288240
    −0.59 pp0.6% → 0.0%
  2. Vanguard Morningstar Value ETF922908744
    −0.45 pp0.5% → 0.1%
  3. Vanguard Morningstar Growth ETF922908736
    −0.31 pp0.3% → 0.0%
  4. Vanguard Short-Term Bond ETF921937827
    −0.18 pp0.8% → 0.6%
  5. Vanguard Morningstar Mid-Cap ETF922908629
    −0.16 pp0.2% → <0.1%

Metrics

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

Portfolio value
$793.3M
+$153.0M (+23.9%) vs. prior quarter
Positions
1,591
+73 vs. prior quarter
Top 10 concentration
69.7%
Top 10 as share of value
Turnover
1.9%
Q2 2026, one quarter
Average holding period
21.4 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 (Q4 2013), so positions held before then are understated.

13F filings by quarter

51 quarters, going back to Q4 2013. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $793.3M (Q2 2026)

Q4 2013: $165.4MQ1 2014: $122.8MQ2 2014: $130.8MQ3 2014: $132.5MQ4 2014: $165.4MQ1 2015: $169.7MQ2 2015: $167.8MQ3 2015: $167.6MQ4 2015: $167.2MQ1 2016: $174.3MQ2 2016: $180.8MQ3 2016: $185.2MQ4 2016: $190.9MQ1 2017: $205.6MQ2 2017: $231.2MQ3 2017: $245.5MQ4 2017: $258.1MQ1 2018: $273.8MQ2 2018: $268.8MQ3 2018: $282.9MQ4 2018: $262.1MQ1 2019: $247.7MQ2 2019: $756.4MQ3 2019: $280.2MQ4 2019: $286.8MQ1 2020: $268.6MQ2 2020: $262.3MQ3 2020: $266.4MQ4 2020: $281.5MQ1 2021: $283.9MQ2 2021: $289.2MQ3 2021: $288.4MQ4 2021: $305.5MQ1 2022: $268.8MQ2 2022: $219.6MQ3 2022: $225.8MQ4 2022: $244.3MQ1 2023: $274.8MQ2 2023: $293.2MQ3 2023: $294.0MQ4 2023: $329.3MQ1 2024: $335.7MQ2 2024: $352.4MQ3 2024: $414.3MQ4 2024: $429.7MQ1 2025: $439.4MQ2 2025: $500.0MQ3 2025: $556.6MQ4 2025: $650.1MQ1 2026: $640.3MQ2 2026: $793.3M
Q4 2013Q2 2026
13F filings of Raffa Wealth Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 27, 20261,591$793.3MVanguard Morningstar Total Stock Market ETFiShares TrVanguard Ftse Developed Markets ETFvs. Q1 2026SEC
Q1 2026Jul 27, 20261,518$640.3MiShares TrVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFvs. Q4 2025SEC
Q4 2025Jul 27, 20261,163$650.1MiShares TrVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFvs. Q3 2025SEC
Q3 2025Jul 27, 20261,172$556.6MVanguard Total Bond Market ETFiShares TrVanguard Morningstar Total Stock Market ETFvs. Q2 2025SEC
Q2 2025Jul 27, 20261,105$500.0MVanguard Total Bond Market ETFiShares TrVanguard Morningstar Total Stock Market ETFvs. Q1 2025SEC
Q1 2025Jul 27, 20261,079$439.4MVanguard Total Bond Market ETFiShares TrVanguard Ftse Developed Markets ETFvs. Q4 2024SEC
Q4 2024Jul 27, 20261,113$429.7MVanguard Total Bond Market ETFiShares TrVanguard Ftse Developed Markets ETFvs. Q3 2024SEC
Q3 2024Jul 27, 20261,082$414.3MVanguard Total Bond Market ETFiShares TrVanguard Ftse Developed Markets ETFvs. Q2 2024SEC
Q2 2024Jul 27, 20261,151$352.4MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2024SEC
Q1 2024Jul 27, 20261,128$335.7MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2023SEC
Q4 2023Jul 27, 20261,060$329.3MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2023SEC
Q3 2023Jul 27, 20261,063$294.0MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2023SEC
Q2 2023Jul 27, 20261,071$293.2MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2023SEC
Q1 2023Jul 27, 20261,074$274.8MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2022SEC
Q4 2022Jul 27, 20261,066$244.3MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2022SEC
Q3 2022Jul 27, 20261,165$225.8MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2022SEC
Q2 2022Jul 27, 20261,131$219.6MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2022SEC
Q1 2022Jul 27, 20261,137$268.8MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q4 2021SEC
Q4 2021Jul 27, 20261,127$305.5MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q3 2021SEC
Q3 2021Jul 27, 20261,113$288.4MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q2 2021SEC
Q2 2021Jul 27, 20261,092$289.2MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q1 2021SEC
Q1 2021Jul 27, 20261,098$283.9MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q4 2020SEC
Q4 2020Jul 27, 2026912$281.5MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q3 2020SEC
Q3 2020Jul 27, 2026892$266.4MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q2 2020SEC
Q2 2020Jul 27, 2026885$262.3MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q1 2020SEC
Q1 2020Jul 27, 2026865$268.6MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q4 2019SEC
Q4 2019Jul 27, 2026742$286.8MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q3 2019SEC
Q3 2019Jul 27, 2026743$280.2MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q2 2019SEC
Q2 2019Jul 27, 2026728$756.4MDFA US Core Equity 1Vanguard Short-Term Federal-AdmVanguard Total Bond Market Index Fundvs. Q1 2019SEC
Q1 2019Jul 27, 2026718$247.7MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q4 2018SEC
Q4 2018Jul 27, 2026741$262.1MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q3 2018SEC
Q3 2018Jul 27, 2026749$282.9MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q2 2018SEC
Q2 2018Jul 27, 2026726$268.8MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q1 2018SEC
Q1 2018Jul 27, 2026708$273.8MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFVanguard Ftse Emerging Markets ETFvs. Q4 2017SEC
Q4 2017Jul 27, 2026256$258.1MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFiShares Trvs. Q3 2017SEC
Q3 2017Jul 27, 2026277$245.5MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFiShares Trvs. Q2 2017SEC
Q2 2017Jul 27, 2026397$231.2MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFiShares Trvs. Q1 2017SEC
Q1 2017Jul 27, 2026372$205.6MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFiShares Trvs. Q4 2016SEC
Q4 2016Jul 27, 2026882$190.9MVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFiShares Trvs. Q3 2016SEC
Q3 2016Jul 27, 2026869$185.2MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q2 2016SEC
Q2 2016Jul 27, 2026863$180.8MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q1 2016SEC
Q1 2016Jul 27, 2026849$174.3MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q4 2015SEC
Q4 2015Jul 27, 2026849$167.2MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q3 2015SEC
Q3 2015Jul 27, 2026842$167.6MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q2 2015SEC
Q2 2015Jul 27, 2026825$167.8MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q1 2015SEC
Q1 2015Jul 27, 2026810$169.7MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q4 2014SEC
Q4 2014Jul 27, 2026751$165.4MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q3 2014SEC
Q3 2014Jul 27, 2026745$132.5MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q2 2014SEC
Q2 2014Jul 27, 2026279$130.8MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q1 2014SEC
Q1 2014Jul 27, 2026272$122.8MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Trvs. Q4 2013SEC
Q4 2013Jul 27, 2026751$165.4MVanguard Total Bond Market ETFVanguard Ftse All-World Ex-US Index FundiShares Tr–SEC