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Livermore
Livermore
ZHEN

Cairn Investment Group, Inc.

SEC CIK
0001800358
Latest filing
Jul 28, 2026

The latest 13F from Cairn Investment Group, Inc. covers Q2 2026 (filed Jul 28, 2026): 65 long positions worth $226.7M. The top 10 holdings make up 49.5% of the portfolio, and the largest is Vanguard Star FDS at 11.7%. 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
3
Est. +$14.1M
Added
18
Est. +$5.15M
Reduced
16
Est. −$7.85M
Sold out
1
Est. −$256.0K

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Star FDS921909768
    11.7%$26.6M
  2. Vanguard Ftse Emerging Markets ETF922042858
    5.7%$13.0M
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    5.6%$12.6M
  4. iShares Inc464286400
    4.3%$9.81M
  5. State Street Health Care Select Sector SPDR ETF81369Y209
    4.2%$9.58M

Share of portfolio

Top 5 holdings and the other 60 positions, by share of portfolio value

  1. Vanguard Star FDS11.7%
  2. Vanguard Ftse Emerging Markets ETF5.7%
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF5.6%
  4. iShares Inc4.3%
  5. State Street Health Care Select Sector SPDR ETF4.2%
  6. Other 60 positions68.4%

Biggest buys

New and added positions, by estimated amount bought

  1. State Street Health Care Select Sector SPDR ETF81369Y209
    +$9.58MNew
  2. INGRIngredion Inc
    +$4.26MNewHistory
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +$2.91MAdded
  4. MSFTMicrosoft Corp
    +$484.9KAddedHistory
  5. Vanguard Star FDS921909768
    +$334.3KAdded

Largest weight increases

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

  1. State Street Health Care Select Sector SPDR ETF81369Y209
    +4.23 pp0.0% → 4.2%
  2. INGRIngredion Inc
    +1.88 pp0.0% → 1.9%History
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +0.74 pp4.8% → 5.6%
  4. GSGoldman Sachs Group Inc
    +0.26 pp3.8% → 4.1%History
  5. MSFTMicrosoft Corp
    +0.16 pp0.5% → 0.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BWABorgwarner Inc
    −$3.31MReducedHistory
  2. AAPLApple Inc.
    −$2.41MReducedHistory
  3. QCOMQualcomm Inc
    −$1.71MReducedHistory
  4. FFord Motor Co
    −$256.0KSold outHistory
  5. LLYEli Lilly & Co
    −$209.9KReducedHistory

Largest weight decreases

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

  1. iShares Inc464286400
    −1.11 pp5.4% → 4.3%
  2. BWABorgwarner Inc
    −1.09 pp4.3% → 3.2%History
  3. AAPLApple Inc.
    −1.01 pp4.7% → 3.7%History
  4. iShares Inc46434G814
    −0.59 pp3.7% → 3.1%
  5. VanEck ETF Trust92189F106
    −0.49 pp1.8% → 1.3%

Metrics

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

Portfolio value
$226.7M
+$25.6M (+12.7%) vs. prior quarter
Positions
65
+2 vs. prior quarter
Top 10 concentration
49.5%
Top 10 as share of value
Turnover
3.8%
Q2 2026, one quarter
Average holding period
16.4 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 $226.7M (Q2 2026)

Q1 2021: $120.1MQ2 2021: $136.3MQ3 2021: $135.1MQ4 2021: $145.2MQ1 2022: $157.1MQ2 2022: $128.6MQ3 2022: $120.0MQ4 2022: $134.3MQ1 2023: $143.7MQ2 2023: $154.4MQ3 2023: $150.8MQ4 2023: $160.2MQ1 2024: $174.2MQ2 2024: $171.4MQ3 2024: $181.0MQ4 2024: $170.2MQ1 2025: $177.0MQ2 2025: $191.5MQ3 2025: $207.8MQ4 2025: $210.7MQ1 2026: $201.2MQ2 2026: $226.7M
Q1 2021Q2 2026
13F filings of Cairn Investment Group, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 202665$226.7MVanguard Star FDSVanguard Ftse Emerging Markets ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q1 2026SEC
Q1 2026Apr 29, 202663$201.2MVanguard Star FDSVanguard Ftse Emerging Markets ETFiShares Incvs. Q4 2025SEC
Q4 2025Feb 2, 202666$210.7MVanguard Star FDSVanguard Ftse Emerging Markets ETFAAPLvs. Q3 2025SEC
Q3 2025Oct 28, 202570$207.8MVanguard Star FDSVanguard Ftse Emerging Markets ETFVanEck ETF Trustvs. Q2 2025SEC
Q2 2025Jul 17, 202568$191.5MVanguard Star FDSVanguard Ftse Emerging Markets ETFAAPLvs. Q1 2025SEC
Q1 2025Apr 25, 202566$177.0MVanguard Star FDSVanguard Ftse Emerging Markets ETFAAPLvs. Q4 2024SEC
Q4 2024Jan 23, 202568$170.2MVanguard Star FDSAAPLVanguard Ftse Emerging Markets ETFvs. Q3 2024SEC
Q3 2024Oct 17, 202467$181.0MVanguard Star FDSAAPLVanguard Ftse Emerging Markets ETFvs. Q2 2024SEC
Q2 2024Aug 6, 202465$171.4MVanguard Star FDSAAPLVanguard Ftse Emerging Markets ETFvs. Q1 2024SEC
Q1 2024Apr 15, 202465$174.2MVanguard Star FDSAAPLVanguard Ftse Emerging Markets ETFvs. Q4 2023SEC
Q4 2023Feb 14, 202464$160.2MVanguard Star FDSVanguard Ftse Emerging Markets ETFAAPLvs. Q3 2023SEC
Q3 2023Nov 6, 202360$150.8MVanguard Ftse Emerging Markets ETFVanguard Star FDSAAPLvs. Q2 2023SEC
Q2 2023Aug 1, 202365$154.4MVanguard Ftse Emerging Markets ETFVanguard Star FDSAAPLvs. Q1 2023SEC
Q1 2023Apr 24, 202364$143.7MVanguard Ftse Emerging Markets ETFVanguard Star FDSAAPLvs. Q4 2022SEC
Q4 2022Jan 11, 202372$134.3MVanguard Star FDSVanguard Ftse Emerging Markets ETFAAPLvs. Q3 2022SEC
Q3 2022Oct 13, 202270$120.0MVanguard Star FDSAAPLVanguard Ftse Emerging Markets ETFvs. Q2 2022SEC
Q2 2022Jul 28, 202276$128.6MVanguard Ftse Emerging Markets ETFAAPLVanguard Star FDSvs. Q1 2022SEC
Q1 2022Apr 26, 202272$157.1MiShares Core S&P Small Cap ETFVanguard Ftse Emerging Markets ETFVanguard Star FDSvs. Q4 2021SEC
Q4 2021Feb 8, 202269$145.2MiShares Core S&P Small Cap ETFVanguard Ftse Emerging Markets ETFVanguard Star FDSvs. Q3 2021SEC
Q3 2021Nov 9, 202171$135.1MiShares Core S&P Small Cap ETFVanguard Ftse Emerging Markets ETFVanguard Star FDSvs. Q2 2021SEC
Q2 2021Aug 12, 202172$136.3MiShares Core S&P Small Cap ETFVanguard Ftse Emerging Markets ETFVanguard Star FDSvs. Q1 2021SEC
Q1 2021May 4, 202170$120.1MiShares Core S&P Small Cap ETFVanguard Ftse Emerging Markets ETFVanguard Star FDS–SEC