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Livermore
Livermore
ZHEN

Tfo-TDC, LLC

SEC CIK
0001698750
Latest filing
Aug 10, 2026

The latest 13F from Tfo-TDC, LLC covers Q2 2026 (filed Aug 10, 2026): 65 long positions worth $919.3M. The top 10 holdings make up 83.8% of the portfolio, and the largest is Vanguard Ftse Developed Markets ETF at 32.8%. 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
5
Est. +$1.97M
Added
34
Est. +$109.7M
Reduced
16
Est. −$7.73M
Sold out
12
Est. −$5.61M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Ftse Developed Markets ETF921943858
    32.8%$301.6M
  2. Dimensional U.S. Core Equity 2 ETF25434V708
    27.6%$253.4M
  3. Dimensional ETF Trust25434V799
    4.1%$38.0M
  4. iShares Tr464287622
    4.0%$36.9M
  5. Dimensional ETF Trust25434V724
    3.3%$30.4M

Biggest buys

New and added positions, by estimated amount bought

  1. Dimensional U.S. Core Equity 2 ETF25434V708
    +$46.4MAdded
  2. Dimensional ETF Trust25434V799
    +$20.3MAdded
  3. Vanguard Malvern FDS922020748
    +$18.3MAdded
  4. Dimensional ETF Trust25434V732
    +$6.66MAdded
  5. Vanguard Real Estate ETF922908553
    +$5.04MAdded

Largest weight increases

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

  1. Dimensional U.S. Core Equity 2 ETF25434V708
    +2.91 pp24.6% → 27.6%
  2. Dimensional ETF Trust25434V799
    +1.83 pp2.3% → 4.1%
  3. Vanguard Malvern FDS922020748
    +1.69 pp1.5% → 3.2%
  4. Dimensional ETF Trust25434V732
    +0.68 pp0.8% → 1.5%
  5. Vanguard Total Bond Market ETF921937835
    +0.43 pp0.4% → 0.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Ftse Developed Markets ETF921943858
    −$4.35MReduced
  2. VOYAVoya Financial, Inc.
    −$2.68MSold outHistory
  3. Dimensional U.S. Targeted Value ETF25434V609
    −$1.06MReduced
  4. Alps ETF Tr00162Q395
    −$679.2KSold out
  5. CHEChemed Corp
    −$512.3KReducedHistory

Largest weight decreases

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

  1. Vanguard Ftse Developed Markets ETF921943858
    −4.61 pp37.4% → 32.8%
  2. Dimensional U.S. Targeted Value ETF25434V609
    −0.47 pp3.4% → 2.9%
  3. iShares Tr464287622
    −0.38 pp4.4% → 4.0%
  4. Dimensional ETF Trust25434V724
    −0.38 pp3.7% → 3.3%
  5. VOYAVoya Financial, Inc.
    −0.36 pp0.4% → 0.0%History

Metrics

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

Portfolio value
$919.3M
+$183.9M (+25.0%) vs. prior quarter
Positions
65
−7 vs. prior quarter
Top 10 concentration
83.8%
Top 10 as share of value
Turnover
1.6%
Q2 2026, one quarter
Average holding period
11.2 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 $919.3M (Q2 2026)

Q1 2021: $333.2MQ2 2021: $505.6MQ3 2021: $506.0MQ4 2021: $521.5MQ1 2022: $504.7MQ2 2022: $444.2MQ3 2022: $400.3MQ4 2022: $421.3MQ1 2023: $455.9MQ2 2023: $474.1MQ3 2023: $478.5MQ4 2023: $491.2MQ1 2024: $515.6MQ2 2024: $511.4MQ3 2024: $533.1MQ4 2024: $210.6MQ1 2025: $504.2MQ2 2025: $568.2MQ3 2025: $613.5MQ4 2025: $668.2MQ1 2026: $735.4MQ2 2026: $919.3M
Q1 2021Q2 2026
13F filings of Tfo-TDC, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 10, 202665$919.3MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFDimensional ETF Trustvs. Q1 2026SEC
Q1 2026May 8, 202672$735.4MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q4 2025SEC
Q4 2025Feb 5, 202651$668.2MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q3 2025SEC
Q3 2025Oct 21, 202550$613.5MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q2 2025SEC
Q2 2025Aug 7, 202542$568.2MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q1 2025SEC
Q1 2025May 8, 202539$504.2MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q4 2024SEC
Q4 2024Feb 7, 202510$210.6MDimensional U.S. Core Equity 2 ETFDimensional ETF TrustDimensional U.S. Targeted Value ETFvs. Q3 2024SEC
Q3 2024Nov 12, 202435$533.1MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q2 2024SEC
Q2 2024Aug 15, 202449$511.4MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q1 2024SEC
Q1 2024May 14, 2024789$515.6MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q4 2023SEC
Q4 2023Feb 14, 2024Amended932$491.2MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q3 2023SEC
Q3 2023Nov 2, 20231,104$478.5MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFDimensional ETF Trustvs. Q2 2023SEC
Q2 2023Aug 14, 2023832$474.1MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFDimensional ETF Trustvs. Q1 2023SEC
Q1 2023May 3, 2023815$455.9MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFDimensional ETF Trustvs. Q4 2022SEC
Q4 2022Feb 3, 2023926$421.3MVanguard Intl Equity Index FDimensional ETF TrustDimensional ETF Trustvs. Q3 2022SEC
Q3 2022Nov 8, 2022138$400.3MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFDimensional ETF Trustvs. Q2 2022SEC
Q2 2022Jul 18, 2022502$444.2MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFDimensional ETF Trustvs. Q1 2022SEC
Q1 2022Apr 25, 2022118$504.7MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q4 2021SEC
Q4 2021Jan 21, 2022134$521.5MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q3 2021SEC
Q3 2021Nov 10, 2021157$506.0MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q2 2021SEC
Q2 2021Jul 14, 2021123$505.6MVanguard Ftse Developed Markets ETFDimensional U.S. Core Equity 2 ETFiShares Trvs. Q1 2021SEC
Q1 2021Apr 22, 2021168$333.2MVanguard Ftse Developed Markets ETFiShares TriShares Core S&P Small Cap ETF–SEC