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Livermore
Livermore
ZHEN

Independent Advisor Alliance

SEC CIK
0001696899
Latest filing
Aug 12, 2026

The latest 13F from Independent Advisor Alliance covers Q2 2026 (filed Aug 12, 2026): 1,054 long positions worth $4.27B. The top 10 holdings make up 39.7% of the portfolio, and the largest is NVIDIA Corp (NVDA) 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
98
Est. +$39.3M
Added
406
Est. +$218.3M
Reduced
528
Est. −$3.96B
Sold out
639
Est. −$2.33B

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    11.1%$471.9MHistory
  2. AAPLApple Inc.
    6.0%$256.9MHistory
  3. ABCBAmeris Bancorp
    5.6%$239.0MHistory
  4. AMDAdvanced Micro Devices Inc
    3.9%$166.3MHistory
  5. AMZNAmazon Com Inc
    3.1%$132.0MHistory

Share of portfolio

Top 5 holdings and the other 1,049 positions, by share of portfolio value

  1. NVDA11.1%
  2. AAPL6.0%
  3. ABCB5.6%
  4. AMD3.9%
  5. AMZN3.1%
  6. Other 1,049 positions70.4%

Biggest buys

New and added positions, by estimated amount bought

  1. NVDANVIDIA Corp
    +$54.4MAddedHistory
  2. MUMicron Technology Inc
    +$20.3MAddedHistory
  3. INTCIntel Corp
    +$15.4MAddedHistory
  4. AMDAdvanced Micro Devices Inc
    +$14.6MAddedHistory
  5. SPCXSpace Exploration Technologies Corp
    +$8.52MNewHistory

Largest weight increases

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

  1. NVDANVIDIA Corp
    +7.15 pp3.9% → 11.1%History
  2. AAPLApple Inc.
    +3.64 pp2.4% → 6.0%History
  3. ABCBAmeris Bancorp
    +3.38 pp2.2% → 5.6%History
  4. AMDAdvanced Micro Devices Inc
    +3.32 pp0.6% → 3.9%History
  5. AMZNAmazon Com Inc
    +1.89 pp1.2% → 3.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    −$363.7MReduced
  2. Invesco Nasdaq 100 ETF46138G649
    −$245.3MReduced
  3. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    −$215.8MReduced
  4. SPYSPDR S&P 500 ETF Trust
    −$172.8MReducedHistory
  5. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −$163.9MReduced

Largest weight decreases

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

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    −2.98 pp3.7% → 0.7%
  2. Invesco Nasdaq 100 ETF46138G649
    −1.92 pp2.1% → 0.2%
  3. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    −1.86 pp1.9% → 0.1%
  4. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −1.57 pp1.7% → 0.1%
  5. SPYSPDR S&P 500 ETF Trust
    −1.47 pp1.7% → 0.2%History

Metrics

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

Portfolio value
$4.27B
−$5.05B (−54.2%) vs. prior quarter
Positions
1,054
−541 vs. prior quarter
Top 10 concentration
39.7%
Top 10 as share of value
Turnover
3.8%
Q2 2026, one quarter
Average holding period
18.3 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 $9.32B (Q1 2026)

Q1 2021: $1.69BQ2 2021: $1.82BQ3 2021: $1.80BQ4 2021: $2.03BQ1 2022: $2.08BQ2 2022: $1.79BQ3 2022: $1.71BQ4 2022: $817.4MQ1 2023: $2.07BQ2 2023: $2.27BQ3 2023: $2.21BQ4 2023: $2.78BQ1 2024: $2.77BQ2 2024: $2.92BQ3 2024: $2.75BQ4 2024: $7.55BQ1 2025: $3.03BQ2 2025: $3.47BQ3 2025: $3.85BQ4 2025: $4.12BQ1 2026: $9.32BQ2 2026: $4.27B
Q1 2021Q2 2026
13F filings of Independent Advisor Alliance by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 20261,054$4.27BNVDAAAPLABCBvs. Q1 2026SEC
Q1 2026May 12, 20261,595$9.32BNVDAState Street SPDR Portfolio S&P 500 ETFAAPLvs. Q4 2025SEC
Q4 2025Feb 4, 2026999$4.12BNVDAAAPLABCBvs. Q3 2025SEC
Q3 2025Nov 4, 2025945$3.85BNVDAAAPLABCBvs. Q2 2025SEC
Q2 2025Aug 11, 2025889$3.47BNVDAAAPLABCBvs. Q1 2025SEC
Q1 2025May 12, 2025813$3.03BAAPLNVDAABCBvs. Q4 2024SEC
Q4 2024Feb 7, 20251,347$7.55BAAPLNVDAState Street SPDR Portfolio S&P 500 ETFvs. Q3 2024SEC
Q3 2024Nov 13, 2024704$2.75BAAPLABCBNVDAvs. Q2 2024SEC
Q2 2024Aug 12, 2024702$2.92BAAPLNVDAMSFTvs. Q1 2024SEC
Q1 2024May 8, 2024702$2.77BAAPLMSFTABCBvs. Q4 2023SEC
Q4 2023Feb 8, 2024677$2.78BVanguard Morningstar Total Stock Market ETFAAPLABCBvs. Q3 2023SEC
Q3 2023Oct 24, 2023650$2.21BAAPLMSFTABCBvs. Q2 2023SEC
Q2 2023Jul 28, 2023667$2.27BAAPLMSFTVanguard Morningstar Total Stock Market ETFvs. Q1 2023SEC
Q1 2023May 12, 2023669$2.07BAAPLMSFTVanguard Morningstar Total Stock Market ETFvs. Q4 2022SEC
Q4 2022Feb 13, 2023421$817.4MABCBPGKOvs. Q3 2022SEC
Q3 2022Nov 4, 2022624$1.71BAAPLMSFTAMZNvs. Q2 2022SEC
Q2 2022Aug 4, 2022618$1.79BAAPLMSFTAMZNvs. Q1 2022SEC
Q1 2022May 6, 2022662$2.08BAAPLMSFTAMZNvs. Q4 2021SEC
Q4 2021Feb 11, 2022674$2.03BAAPLMSFTAMZNvs. Q3 2021SEC
Q3 2021Nov 1, 2021632$1.80BAAPLAMZNMSFTvs. Q2 2021SEC
Q2 2021Aug 12, 2021617$1.82BAAPLAMZNMSFTvs. Q1 2021SEC
Q1 2021May 14, 2021589$1.69BAAPLAMZNMSFT–SEC