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Livermore
Livermore
ZHEN

D'Orazio & Associates, Inc.

SEC CIK
0001646821
Latest filing
Jul 28, 2026

The latest 13F from D'Orazio & Associates, Inc. covers Q2 2026 (filed Jul 28, 2026): 322 long positions worth $864.1M. The top 10 holdings make up 56.2% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 17.9%. 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
47
Est. +$11.7M
Added
128
Est. +$28.5M
Reduced
113
Est. −$28.2M
Sold out
23
Est. −$5.97M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    17.9%$154.6M
  2. J P Morgan Exchange Traded F46641Q159
    5.3%$45.7M
  3. iShares Tr46434V456
    5.2%$44.9M
  4. Invesco Nasdaq 100 ETF46138G649
    4.9%$42.7M
  5. BAHBooz Allen Hamilton Holding Corp
    4.9%$42.4MHistory

Share of portfolio

Top 5 holdings and the other 317 positions, by share of portfolio value

  1. Vanguard Morningstar Total Stock Market ETF17.9%
  2. J P Morgan Exchange Traded F5.3%
  3. iShares Tr5.2%
  4. Invesco Nasdaq 100 ETF4.9%
  5. BAH4.9%
  6. Other 317 positions61.8%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Malvern FDS922020748
    +$4.89MAdded
  2. American Centy ETF Tr025072802
    +$2.56MAdded
  3. iShares Tr46436E403
    +$2.36MAdded
  4. Invesco Exch Traded FD Tr II46138E222
    +$2.31MAdded
  5. J P Morgan Exchange Traded F46641Q159
    +$2.07MAdded

Largest weight increases

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

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +0.68 pp17.2% → 17.9%
  2. UNHUnitedHealth Group Inc
    +0.66 pp1.7% → 2.4%History
  3. iShares MSCI USA Momentum Factor ETF46432F396
    +0.65 pp1.9% → 2.5%
  4. Invesco Nasdaq 100 ETF46138G649
    +0.64 pp4.3% → 4.9%
  5. iShares Tr46436E403
    +0.48 pp1.3% → 1.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Invesco Exchange Traded FD T46137V431
    −$13.0MReduced
  2. iShares Tr46434V456
    −$3.02MReduced
  3. BRK.BBerkshire Hathaway Inc
    −$1.39MReducedHistory
  4. BAHBooz Allen Hamilton Holding Corp
    −$1.36MReducedHistory
  5. J P Morgan Exchange Traded F46641Q761
    −$1.30MReduced

Largest weight decreases

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

  1. BAHBooz Allen Hamilton Holding Corp
    −2.38 pp7.3% → 4.9%History
  2. Invesco Exchange Traded FD T46137V431
    −1.48 pp1.6% → 0.1%
  3. iShares Tr46434V456
    −0.59 pp5.8% → 5.2%
  4. BRK.BBerkshire Hathaway Inc
    −0.46 pp4.4% → 4.0%History
  5. iShares Core Dividend Growth ETF46434V621
    −0.21 pp3.9% → 3.7%

Metrics

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

Portfolio value
$864.1M
+$92.0M (+11.9%) vs. prior quarter
Positions
322
+24 vs. prior quarter
Top 10 concentration
56.2%
Top 10 as share of value
Turnover
4.2%
Q2 2026, one quarter
Average holding period
15.0 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 $864.1M (Q2 2026)

Q1 2021: $357.8MQ2 2021: $387.8MQ3 2021: $410.7MQ4 2021: $433.1MQ1 2022: $414.6MQ2 2022: $376.3MQ3 2022: $341.9MQ4 2022: $422.2MQ1 2023: $385.7MQ2 2023: $428.5MQ3 2023: $445.7MQ4 2023: $558.4MQ1 2024: $620.4MQ2 2024: $650.9MQ3 2024: $702.8MQ4 2024: $678.0MQ1 2025: $656.0MQ2 2025: $708.4MQ3 2025: $756.9MQ4 2025: $782.3MQ1 2026: $772.1MQ2 2026: $864.1M
Q1 2021Q2 2026
13F filings of D'Orazio & Associates, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 2026322$864.1MVanguard Morningstar Total Stock Market ETFJ P Morgan Exchange Traded FiShares Trvs. Q1 2026SEC
Q1 2026May 7, 2026298$772.1MVanguard Morningstar Total Stock Market ETFBAHiShares Trvs. Q4 2025SEC
Q4 2025Feb 4, 2026285$782.3MVanguard Morningstar Total Stock Market ETFBAHiShares Trvs. Q3 2025SEC
Q3 2025Nov 10, 2025276$756.9MVanguard Morningstar Total Stock Market ETFBAHiShares Trvs. Q2 2025SEC
Q2 2025Aug 8, 2025277$708.4MVanguard Morningstar Total Stock Market ETFBAHiShares Trvs. Q1 2025SEC
Q1 2025Apr 17, 2025253$656.0MVanguard Morningstar Total Stock Market ETFBAHBRK.Bvs. Q4 2024SEC
Q4 2024Jan 28, 2025237$678.0MVanguard Morningstar Total Stock Market ETFBAHJ P Morgan Exchange Traded Fvs. Q3 2024SEC
Q3 2024Nov 5, 2024238$702.8MBAHVanguard Morningstar Total Stock Market ETFiShares Trvs. Q2 2024SEC
Q2 2024Aug 8, 2024216$650.9MBAHVanguard Morningstar Total Stock Market ETFiShares Trvs. Q1 2024SEC
Q1 2024May 9, 2024203$620.4MBAHVanguard Morningstar Total Stock Market ETFiShares Core Dividend Growth ETFvs. Q4 2023SEC
Q4 2023Feb 8, 2024188$558.4MBAHVanguard Morningstar Total Stock Market ETFiShares Core Dividend Growth ETFvs. Q3 2023SEC
Q3 2023Oct 11, 2023156$445.7MBAHiShares Core Dividend Growth ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2023SEC
Q2 2023Aug 4, 2023144$428.5MBAHiShares Core Dividend Growth ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2023SEC
Q1 2023Apr 24, 2023140$385.7MBAHiShares Core Dividend Growth ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2022SEC
Q4 2022Jan 26, 2023146$422.2MBAHiShares Core Dividend Growth ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2022SEC
Q3 2022Oct 14, 2022130$341.9MBAHiShares Core Dividend Growth ETFUNHvs. Q2 2022SEC
Q2 2022Aug 15, 2022115$376.3MBAHiShares TrVanguard Morningstar Total Stock Market ETFvs. Q1 2022SEC
Q1 2022May 2, 2022109$414.6MiShares TrVanguard Morningstar Total Stock Market ETFBAHvs. Q4 2021SEC
Q4 2021Feb 7, 202299$433.1MiShares TrVanguard Morningstar Total Stock Market ETFBAHvs. Q3 2021SEC
Q3 2021Nov 10, 2021777$410.7MiShares TrBAHVanguard Morningstar Total Stock Market ETFvs. Q2 2021SEC
Q2 2021Aug 4, 2021389$387.8MiShares TrBAHVanguard Morningstar Total Stock Market ETFvs. Q1 2021SEC
Q1 2021May 5, 2021385$357.8MiShares TrBAHVanguard Morningstar Small-Cap ETF–SEC