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Livermore
Livermore
ZHEN

Jacobsen Capital Management

SEC CIK
0001782491
Latest filing
Jul 29, 2026

The latest 13F from Jacobsen Capital Management covers Q2 2026 (filed Jul 29, 2026): 126 long positions worth $341.9M. The top 10 holdings make up 68.0% of the portfolio, and the largest is Vanguard Ftse Developed Markets ETF at 17.4%. 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
12
Est. +$3.62M
Added
55
Est. +$8.05M
Reduced
46
Est. −$4.61M
Sold out
10
Est. −$2.75M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Ftse Developed Markets ETF921943858
    17.4%$59.4M
  2. Vanguard Morningstar Growth ETF922908736
    14.3%$49.0M
  3. Vanguard Morningstar Value ETF922908744
    12.1%$41.4M
  4. Vanguard Morningstar Small-Cap Value ETF922908611
    4.6%$15.6M
  5. Vanguard Morningstar Small-Cap Growth ETF922908595
    4.2%$14.5M

Share of portfolio

Top 5 holdings and the other 121 positions, by share of portfolio value

  1. Vanguard Ftse Developed Markets ETF17.4%
  2. Vanguard Morningstar Growth ETF14.3%
  3. Vanguard Morningstar Value ETF12.1%
  4. Vanguard Morningstar Small-Cap Value ETF4.6%
  5. Vanguard Morningstar Small-Cap Growth ETF4.2%
  6. Other 121 positions47.4%

Biggest buys

New and added positions, by estimated amount bought

  1. Dimensional ETF Trust25434V203
    +$3.17MAdded
  2. Dimensional Emerging Core Equity Market ETF25434V302
    +$2.86MAdded
  3. Vanguard Intermediate-Term Bond ETF921937819
    +$694.4KAdded
  4. SNDKSandisk Corp
    +$623.0KNewHistory
  5. SPGIS&P Global Inc.
    +$600.7KNewHistory

Largest weight increases

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

  1. Dimensional Emerging Core Equity Market ETF25434V302
    +0.87 pp1.3% → 2.2%
  2. Dimensional ETF Trust25434V203
    +0.67 pp3.1% → 3.8%
  3. INTCIntel Corp
    +0.21 pp0.1% → 0.3%History
  4. Vanguard Morningstar Small-Cap Growth ETF922908595
    +0.19 pp4.0% → 4.2%
  5. SNDKSandisk Corp
    +0.18 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Ftse Developed Markets ETF921943858
    −$2.96MReduced
  2. SPGIS&P Global Inc.
    −$627.4KSold outHistory
  3. Vanguard Morningstar Growth ETF922908736
    −$491.9KReducedConverted for a 6-for-1 split
  4. ABTAbbott Laboratories
    −$326.8KSold outHistory
  5. HONHoneywell International Inc
    −$259.7KSold outHistory

Largest weight decreases

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

  1. Vanguard Ftse Developed Markets ETF921943858
    −1.57 pp18.9% → 17.4%
  2. SPGIS&P Global Inc.
    −0.21 pp0.2% → 0.0%History
  3. METAMeta Platforms, Inc.
    −0.15 pp0.8% → 0.7%History
  4. XOMExxonMobil Holdings Corp
    −0.14 pp0.4% → 0.3%History
  5. ABTAbbott Laboratories
    −0.11 pp0.1% → 0.0%History

Metrics

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

Portfolio value
$341.9M
+$45.8M (+15.5%) vs. prior quarter
Positions
126
+2 vs. prior quarter
Top 10 concentration
68.0%
Top 10 as share of value
Turnover
2.3%
Q2 2026, one quarter
Average holding period
17.7 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 $341.9M (Q2 2026)

Q1 2021: $181.3MQ2 2021: $196.0MQ3 2021: $198.1MQ4 2021: $211.4MQ1 2022: $218.0MQ2 2022: $188.0MQ3 2022: $174.7MQ4 2022: $187.6MQ1 2023: $186.6MQ2 2023: $193.8MQ3 2023: $184.3MQ4 2023: $197.8MQ1 2024: $215.6MQ2 2024: $223.8MQ3 2024: $237.6MQ4 2024: $234.9MQ1 2025: $230.2MQ2 2025: $271.6MQ3 2025: $295.1MQ4 2025: $306.1MQ1 2026: $296.1MQ2 2026: $341.9M
Q1 2021Q2 2026
13F filings of Jacobsen Capital Management by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 29, 2026126$341.9MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q1 2026SEC
Q1 2026Apr 24, 2026124$296.1MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q4 2025SEC
Q4 2025Jan 26, 2026121$306.1MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q3 2025SEC
Q3 2025Oct 27, 2025121$295.1MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q2 2025SEC
Q2 2025Jul 30, 2025116$271.6MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q1 2025SEC
Q1 2025Apr 25, 2025100$230.2MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q4 2024SEC
Q4 2024Jan 24, 202595$234.9MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q3 2024SEC
Q3 2024Oct 25, 2024102$237.6MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q2 2024SEC
Q2 2024Jul 23, 202497$223.8MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q1 2024SEC
Q1 2024Apr 25, 202492$215.6MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q4 2023SEC
Q4 2023Jan 24, 202483$197.8MVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q3 2023SEC
Q3 2023Oct 25, 202373$184.3MVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFvs. Q2 2023SEC
Q2 2023Aug 2, 202371$193.8MVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFvs. Q1 2023SEC
Q1 2023May 2, 202370$186.6MVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFvs. Q4 2022SEC
Q4 2022Feb 13, 202353$187.6MVanguard Morningstar Value ETFVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFvs. Q3 2022SEC
Q3 2022Oct 25, 202249$174.7MVanguard Morningstar Value ETFVanguard Morningstar Growth ETFVanguard Ftse Developed Markets ETFvs. Q2 2022SEC
Q2 2022Aug 2, 202255$188.0MVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFvs. Q1 2022SEC
Q1 2022Apr 21, 202254$218.0MVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q4 2021SEC
Q4 2021Feb 1, 202253$211.4MVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q3 2021SEC
Q3 2021Oct 29, 202153$198.1MVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q2 2021SEC
Q2 2021Jul 28, 202154$196.0MVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q1 2021SEC
Q1 2021Apr 15, 202155$181.3MVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFVanguard Morningstar Growth ETF–SEC