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Livermore
Livermore
ZHEN

Brio Consultants, LLC

SEC CIK
0001747799
Latest filing
Aug 12, 2026

The latest 13F from Brio Consultants, LLC covers Q2 2026 (filed Aug 12, 2026): 164 long positions worth $853.4M. The top 10 holdings make up 55.2% of the portfolio, and the largest is Vanguard S&P 500 ETF at 10.2%. Livermore has 24 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
12
Est. +$4.65M
Added
98
Est. +$20.5M
Reduced
46
Est. −$70.5M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    10.2%$87.2M
  2. Vanguard Total Bond Market ETF921937835
    8.2%$70.1M
  3. Schwab U.S. Large-Cap Growth ETF808524300
    7.5%$63.6M
  4. Invesco Actively Managed Exc46090A804
    6.9%$58.6M
  5. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    5.9%$50.1M

Share of portfolio

Top 5 holdings and the other 159 positions, by share of portfolio value

  1. Vanguard S&P 500 ETF10.2%
  2. Vanguard Total Bond Market ETF8.2%
  3. Schwab U.S. Large-Cap Growth ETF7.5%
  4. Invesco Actively Managed Exc6.9%
  5. State Street SPDR Portfolio Developed World Ex-US ETF5.9%
  6. Other 159 positions61.4%

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$2.84MAdded
  2. Invesco Actively Managed Exc46090A804
    +$2.65MAdded
  3. Vanguard Total Bond Market ETF921937835
    +$2.20MAdded
  4. RDDTReddit, Inc.
    +$2.18MNewHistory
  5. iShares Tr464288414
    +$1.07MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +0.31 pp1.6% → 1.9%
  2. RDDTReddit, Inc.
    +0.26 pp0.0% → 0.3%History
  3. Vanguard Scottsdale FDS92206C714
    +0.12 pp4.8% → 4.9%
  4. iShares Tr464288414
    +0.11 pp0.5% → 0.7%
  5. Vanguard Mun BD FDS922907712
    +0.08 pp0.4% → 0.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Growth ETF922908736
    −$56.0MReducedConverted for a 6-for-1 split
  2. iShares Russell 1000 Growth ETF464287614
    −$5.54MReducedConverted for a 4-for-1 split
  3. Vanguard Morningstar Mid-Cap ETF922908629
    −$4.77MReducedConverted for a 4-for-1 split
  4. Vanguard World FD921910816
    −$1.43MReducedConverted for a 5-for-1 split
  5. Vanguard S&P 500 ETF922908363
    −$740.4KReduced

Largest weight decreases

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

  1. Vanguard S&P 500 ETF922908363
    −0.20 pp10.4% → 10.2%
  2. GOOGAlphabet Inc.
    −0.07 pp0.5% → 0.4%History
  3. SPDR Index Shs FDS78463X434
    −0.06 pp1.1% → 1.1%
  4. Goldman Sachs ETF Tr381430230
    −0.06 pp0.2% → 0.1%
  5. iShares Tr46434V274
    −0.05 pp1.1% → 1.1%

Metrics

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

Portfolio value
$853.4M
+$35.4M (+4.3%) vs. prior quarter
Positions
164
+12 vs. prior quarter
Top 10 concentration
55.2%
Top 10 as share of value
Turnover
3.0%
Q2 2026, one quarter
Average holding period
16.1 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 $853.4M (Q2 2026)

Q1 2021: $339.7MQ2 2021: $391.4MQ3 2021: $412.0MQ4 2021: $425.5MQ1 2022: $468.9MQ2 2022: $440.5MQ3 2022: $473.2MQ4 2022: $501.9MQ1 2023: $540.4MQ2 2023: $553.1MQ3 2023: $532.5MQ4 2023: $563.6MQ1 2024: $593.0MQ2 2024: $606.5MQ3 2024: $628.5MQ4 2024: $639.0MQ1 2025: $636.9MQ2 2025: $684.5MQ3 2025: $726.8MQ4 2025: $769.5MQ1 2026: $818.0MQ2 2026: $853.4M
Q1 2021Q2 2026
13F filings of Brio Consultants, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 2026164$853.4MVanguard S&P 500 ETFVanguard Total Bond Market ETFSchwab U.S. Large-Cap Growth ETFvs. Q1 2026SEC
Q1 2026May 6, 2026152$818.0MVanguard S&P 500 ETFVanguard Total Bond Market ETFSchwab U.S. Large-Cap Growth ETFvs. Q4 2025SEC
Q4 2025Feb 4, 2026146$769.5MVanguard S&P 500 ETFSchwab U.S. Large-Cap Growth ETFVanguard Total Bond Market ETFvs. Q3 2025SEC
Q3 2025Nov 10, 2025137$726.8MVanguard S&P 500 ETFSchwab U.S. Large-Cap Growth ETFVanguard Total Bond Market ETFvs. Q2 2025SEC
Q2 2025Aug 7, 2025134$684.5MVanguard S&P 500 ETFSchwab U.S. Large-Cap Growth ETFVanguard Total Bond Market ETFvs. Q1 2025SEC
Q1 2025Jul 7, 2025Amended119$636.9MVanguard S&P 500 ETFVanguard Total Bond Market ETFSchwab U.S. Large-Cap Growth ETFvs. Q4 2024SEC
Q4 2024Jan 24, 2025115$639.0MSchwab U.S. Large-Cap Growth ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q3 2024SEC
Q3 2024Oct 18, 2024106$628.5MSchwab U.S. Large-Cap Growth ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q2 2024SEC
Q2 2024Aug 5, 202496$606.5MSchwab U.S. Large-Cap Growth ETFVanguard S&P 500 ETFVanguard Intermediate-Term Bond ETFvs. Q1 2024SEC
Q1 2024Apr 29, 202494$593.0MSchwab U.S. Large-Cap Growth ETFVanguard S&P 500 ETFVanguard Intermediate-Term Bond ETFvs. Q4 2023SEC
Q4 2023Feb 13, 2024Amended98$563.6MSchwab U.S. Large-Cap Growth ETFVanguard S&P 500 ETFVanguard Intermediate-Term Bond ETFvs. Q3 2023SEC
Q3 2023Oct 27, 202395$532.5MSchwab U.S. Large-Cap Growth ETFVanguard Intermediate-Term Bond ETFVanguard S&P 500 ETFvs. Q2 2023SEC
Q2 2023Aug 9, 202393$553.1MSchwab U.S. Large-Cap Growth ETFVanguard S&P 500 ETFVanguard Intermediate-Term Bond ETFvs. Q1 2023SEC
Q1 2023May 4, 202390$540.4MSchwab U.S. Large-Cap Growth ETFVanguard Intermediate-Term Bond ETFPacer US Cash Cows 100 ETFvs. Q4 2022SEC
Q4 2022Feb 7, 202389$501.9MVanguard Intermediate-Term Bond ETFSchwab U.S. Large-Cap Growth ETFSchwab US Dividend Equity ETFvs. Q3 2022SEC
Q3 2022Oct 25, 202292$473.2MVanguard Intermediate-Term Bond ETFSchwab U.S. Large-Cap Growth ETFPacer US Cash Cows 100 ETFvs. Q2 2022SEC
Q2 2022Jul 14, 202279$440.5MVanguard Intermediate-Term Bond ETFSchwab U.S. Large-Cap Growth ETFSchwab US Dividend Equity ETFvs. Q1 2022SEC
Q1 2022May 4, 202277$468.9MVanguard Dividend Appreciation ETFiShares MSCI Eafe ETFState Street SPDR Portfolio Aggregate Bond ETFvs. Q4 2021SEC
Q4 2021Jan 19, 202270$425.5MVanguard Dividend Appreciation ETFiShares MSCI Eafe ETFState Street SPDR Portfolio S&P 500 ETFvs. Q3 2021SEC
Q3 2021Oct 29, 202175$412.0MiShares MSCI Eafe ETFVanguard Dividend Appreciation ETFState Street SPDR Portfolio S&P 500 ETFvs. Q2 2021SEC
Q2 2021Jul 22, 202175$391.4MVanguard Dividend Appreciation ETFiShares MSCI Eafe ETFState Street SPDR Portfolio S&P 500 ETFvs. Q1 2021SEC
Q1 2021Apr 26, 202172$339.7MiShares MSCI Eafe ETFVanguard Dividend Appreciation ETFState Street SPDR Portfolio S&P 500 ETF–SEC