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Livermore
Livermore
ZHEN

Gladstone Institutional Advisory LLC

SEC CIK
0001766530
Latest filing
Jul 27, 2026

The latest 13F from Gladstone Institutional Advisory LLC covers Q2 2026 (filed Jul 27, 2026): 892 long positions worth $3.16B. The top 10 holdings make up 20.4% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 2.7%. Livermore has 29 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
105
Est. +$52.2M
Added
457
Est. +$163.7M
Reduced
288
Est. −$70.0M
Sold out
42
Est. −$19.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    2.7%$84.7MHistory
  2. iShares Core S&P 500 ETF464287200
    2.6%$83.1M
  3. AAPLApple Inc.
    2.6%$82.1MHistory
  4. First Tr Exchng Traded FD VI33740F755
    2.4%$76.7M
  5. Vanguard S&P 500 ETF922908363
    2.1%$67.1M

Biggest buys

New and added positions, by estimated amount bought

  1. First Tr Exchng Traded FD VI33740F755
    +$19.4MAdded
  2. Invesco Actively Managed Exc46090A887
    +$5.69MAdded
  3. SPDR Series Trust78464A672
    +$5.01MAdded
  4. iShares Core S&P 500 ETF464287200
    +$4.90MAdded
  5. Vanguard Morningstar Total Stock Market ETF922908769
    +$3.45MAdded

Largest weight increases

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

  1. First Tr Exchng Traded FD VI33740F755
    +0.46 pp2.0% → 2.4%
  2. MUMicron Technology Inc
    +0.34 pp0.1% → 0.5%History
  3. TET1 Energy Inc.
    +0.30 pp0.3% → 0.6%History
  4. PCTPureCycle Technologies, Inc.
    +0.29 pp0.6% → 0.9%History
  5. INTCIntel Corp
    +0.20 pp0.1% → 0.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −$5.27MReduced
  2. AEMAgnico Eagle Mines Ltd
    −$5.24MSold outHistory
  3. CRWDCrowdStrike Holdings, Inc.
    −$3.49MReducedHistory
  4. Fidelity Merrimack STR Tr316188309
    −$3.42MReduced
  5. AMDAdvanced Micro Devices Inc
    −$2.94MReducedHistory

Largest weight decreases

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

  1. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −0.28 pp1.4% → 1.1%
  2. XOMExxonMobil Holdings Corp
    −0.26 pp0.7% → 0.5%History
  3. WisdomTree Tr97717Y527
    −0.22 pp1.0% → 0.8%
  4. METAMeta Platforms, Inc.
    −0.21 pp0.8% → 0.6%History
  5. Fidelity Merrimack STR Tr316188309
    −0.20 pp0.6% → 0.4%

Metrics

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

Portfolio value
$3.16B
+$463.9M (+17.2%) vs. prior quarter
Positions
892
+63 vs. prior quarter
Top 10 concentration
20.4%
Top 10 as share of value
Turnover
3.1%
Q2 2026, one quarter
Average holding period
17.2 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 $3.16B (Q2 2026)

Q1 2021: $643.4MQ2 2021: $833.1MQ3 2021: $1.02BQ4 2021: $1.29BQ1 2022: $1.48BQ2 2022: $1.26BQ3 2022: $1.28BQ4 2022: $1.42BQ1 2023: $1.54BQ2 2023: $1.64BQ3 2023: $1.54BQ4 2023: $1.78BQ1 2024: $1.82BQ2 2024: $1.92BQ3 2024: $2.05BQ4 2024: $2.16BQ1 2025: $2.15BQ2 2025: $2.42BQ3 2025: $2.60BQ4 2025: $2.65BQ1 2026: $2.70BQ2 2026: $3.16B
Q1 2021Q2 2026
13F filings of Gladstone Institutional Advisory LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 27, 2026892$3.16BNVDAiShares Core S&P 500 ETFAAPLvs. Q1 2026SEC
Q1 2026May 14, 2026829$2.70BNVDAAAPLiShares Core S&P 500 ETFvs. Q4 2025SEC
Q4 2025Feb 17, 2026788$2.65BNVDAAAPLiShares Core S&P 500 ETFvs. Q3 2025SEC
Q3 2025Oct 22, 2025784$2.60BNVDAAAPLiShares Core S&P 500 ETFvs. Q2 2025SEC
Q2 2025Aug 12, 2025753$2.42BNVDAAAPLiShares Core S&P 500 ETFvs. Q1 2025SEC
Q1 2025May 15, 2025714$2.15BAAPLWisdomTree TrSPYvs. Q4 2024SEC
Q4 2024Jan 29, 2025697$2.16BAAPLNVDAWisdomTree Trvs. Q3 2024SEC
Q3 2024Oct 28, 2024683$2.05BAAPLSPYiShares Core S&P 500 ETFvs. Q2 2024SEC
Q2 2024Aug 2, 2024661$1.92BVanguard S&P 500 ETFSPYAAPLvs. Q1 2024SEC
Q1 2024May 14, 2024641$1.82BSPYVanguard S&P 500 ETFWisdomTree Trvs. Q4 2023SEC
Q4 2023Feb 9, 2024665$1.78BSPYAAPLWisdomTree Trvs. Q3 2023SEC
Q3 2023Nov 13, 2023619$1.54BSPYAAPLWisdomTree Trvs. Q2 2023SEC
Q2 2023Aug 10, 2023629$1.64BState Street SPDR Portfolio S&P 500 ETFAAPLSPYvs. Q1 2023SEC
Q1 2023May 12, 2023657$1.54BSPYAAPLWisdomTree Trvs. Q4 2022SEC
Q4 2022Feb 1, 2023646$1.42BSPYFirst Tr Exchange-Traded FDVanguard S&P 500 ETFvs. Q3 2022SEC
Q3 2022Jan 30, 2023Amended631$1.28BSPYAAPLFirst Tr Exchange-Traded FDvs. Q2 2022SEC
Q2 2022Jan 30, 2023Amended645$1.26BSPYAAPLWisdomTree Trvs. Q1 2022SEC
Q1 2022Jan 30, 2023Amended697$1.48BAAPLSPYInvesco Exchange Traded FD Tvs. Q4 2021SEC
Q4 2021Jan 30, 2023Amended594$1.29BAAPLSPYMSFTvs. Q3 2021SEC
Q3 2021Jan 30, 2023Amended544$1.02BAAPLSPYAMZNvs. Q2 2021SEC
Q2 2021Jan 30, 2023Amended516$833.1MAAPLAMZNFirst Tr Exchange-Traded FDvs. Q1 2021SEC
Q1 2021Jan 30, 2023Amended414$643.4MFirst Tr Exchng Traded FD VIFirst Tr Exchange-Traded FDAAPL–SEC