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Livermore
Livermore
ZHEN

Enterprise Bank & Trust Co

SEC CIK
0001770710
Latest filing
Jul 7, 2025

The latest 13F from Enterprise Bank & Trust Co covers Q2 2025 (filed Jul 7, 2025): 135 long positions worth $267.4M. The top 10 holdings make up 45.4% of the portfolio, and the largest is iShares Core S&P Mid-Cap ETF at 7.2%. Livermore has 18 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2025

Share counts compared with Q1 2025: 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
9
Est. +$3.10M
Added
27
Est. +$2.00M
Reduced
48
Est. −$8.09M
Sold out
4
Est. −$9.41M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P Mid-Cap ETF464287507
    7.2%$19.3M
  2. MSFTMicrosoft Corp
    7.0%$18.7MHistory
  3. NVDANVIDIA Corp
    6.0%$16.0MHistory
  4. AAPLApple Inc.
    5.4%$14.3MHistory
  5. AMZNAmazon Com Inc
    3.7%$9.92MHistory

Share of portfolio

Top 5 holdings and the other 130 positions, by share of portfolio value

  1. iShares Core S&P Mid-Cap ETF7.2%
  2. MSFT7.0%
  3. NVDA6.0%
  4. AAPL5.4%
  5. AMZN3.7%
  6. Other 130 positions70.8%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Mid-Cap ETF922908629
    +$897.7KNew
  2. Vanguard Morningstar Small-Cap ETF922908751
    +$585.6KNew
  3. Dimensional Emerging Core Equity Market ETF25434V302
    +$429.3KAdded
  4. BRK.BBerkshire Hathaway Inc
    +$312.4KNewHistory
  5. BDXBecton Dickinson & Co
    +$303.7KNewHistory

Largest weight increases

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

  1. Dimensional Emerging Core Equity Market ETF25434V302
    +0.41 pp3.0% → 3.4%
  2. Vanguard Morningstar Mid-Cap ETF922908629
    +0.34 pp0.0% → 0.3%
  3. AVGOBroadcom Inc.
    +0.29 pp0.3% → 0.6%History
  4. ORCLOracle Corp
    +0.24 pp0.4% → 0.6%History
  5. Vanguard Morningstar Small-Cap ETF922908751
    +0.22 pp0.0% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Real Estate ETF922908553
    −$8.33MSold out
  2. iShares Core S&P 500 ETF464287200
    −$2.86MReduced
  3. iShares Core S&P Mid-Cap ETF464287507
    −$1.82MReduced
  4. NVDANVIDIA Corp
    −$726.4KReducedHistory
  5. Vanguard Scottsdale FDS92206C664
    −$554.6KSold out

Largest weight decreases

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

  1. Vanguard Real Estate ETF922908553
    −3.22 pp3.2% → 0.0%
  2. iShares Core S&P 500 ETF464287200
    −0.96 pp1.6% → 0.6%
  3. UNHUnitedHealth Group Inc
    −0.67 pp1.6% → 0.9%History
  4. iShares Core S&P Mid-Cap ETF464287507
    −0.46 pp7.7% → 7.2%
  5. CVXChevron Corp
    −0.26 pp1.4% → 1.1%History

Metrics

13F metrics for Q2 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$267.4M
+$8.53M (+3.3%) vs. prior quarter
Positions
135
+5 vs. prior quarter
Top 10 concentration
45.4%
Top 10 as share of value
Turnover
1.9%
Q2 2025, one quarter
Average holding period
15.6 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

18 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $310.4M (Q3 2024)

Q1 2021: $237.2MQ2 2021: $253.3MQ3 2021: $253.3MQ4 2021: $286.0MQ1 2022: $254.6MQ2 2022: $220.8MQ3 2022: $192.2MQ4 2022: $211.4MQ1 2023: $231.4MQ2 2023: $261.4MQ3 2023: $242.5MQ4 2023: $281.0MQ1 2024: $291.3MQ2 2024: $292.8MQ3 2024: $310.4MQ4 2024: $303.8MQ1 2025: $258.9MQ2 2025: $267.4M
Q1 2021Q2 2025
13F filings of Enterprise Bank & Trust Co by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Jul 7, 2025135$267.4MiShares Core S&P Mid-Cap ETFMSFTNVDAvs. Q1 2025SEC
Q1 2025Apr 9, 2025130$258.9MiShares Core S&P Mid-Cap ETFAAPLMSFTvs. Q4 2024SEC
Q4 2024Jan 13, 2025130$303.8MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFAAPLvs. Q3 2024SEC
Q3 2024Oct 8, 2024129$310.4MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFFlexshares Trvs. Q2 2024SEC
Q2 2024Jul 10, 2024121$292.8MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFFlexshares Trvs. Q1 2024SEC
Q1 2024Apr 10, 2024124$291.3MiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFFlexshares Trvs. Q4 2023SEC
Q4 2023Jan 9, 2024122$281.0MiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFFlexshares Trvs. Q3 2023SEC
Q3 2023Oct 16, 2023105$242.5MiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFFlexshares Trvs. Q2 2023SEC
Q2 2023Jul 6, 2023115$261.4MiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFFlexshares Trvs. Q1 2023SEC
Q1 2023Apr 11, 2023103$231.4MiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFFlexshares Trvs. Q4 2022SEC
Q4 2022Jan 11, 202397$211.4MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFFlexshares Trvs. Q3 2022SEC
Q3 2022Oct 6, 202286$192.2MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFVanguard Real Estate ETFvs. Q2 2022SEC
Q2 2022Jul 6, 202289$220.8MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFVanguard Real Estate ETFvs. Q1 2022SEC
Q1 2022Apr 13, 202291$254.6MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFVanguard Real Estate ETFvs. Q4 2021SEC
Q4 2021Jan 3, 202295$286.0MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFVanguard Real Estate ETFvs. Q3 2021SEC
Q3 2021Oct 4, 202196$253.3MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFVanguard Real Estate ETFvs. Q2 2021SEC
Q2 2021Jul 6, 202198$253.3MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Mid-Cap ETFVanguard Real Estate ETFvs. Q1 2021SEC
Q1 2021Apr 15, 202190$237.2MiShares Core U.S. Aggregate Bond ETFVanguard Intermediate-Term Bond ETFVanguard Real Estate ETF–SEC