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Livermore
Livermore
ZHEN

Apella Capital, LLC

SEC CIK
0001801507
Latest filing
Jul 8, 2026

The latest 13F from Apella Capital, LLC covers Q2 2026 (filed Jul 8, 2026): 695 long positions worth $7.08B. The top 10 holdings make up 33.5% of the portfolio, and the largest is Dimensional U.S. Core Equity 2 ETF at 10.1%. Livermore has 23 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
42
Est. +$18.1M
Added
340
Est. +$256.2M
Reduced
258
Est. −$99.6M
Sold out
24
Est. −$7.14M

Top 5 holdings

Share of this quarter's portfolio value

  1. Dimensional U.S. Core Equity 2 ETF25434V708
    10.1%$713.4M
  2. Vanguard Morningstar Total Stock Market ETF922908769
    3.9%$274.7M
  3. Dimensional ETF Trust25434V864
    3.7%$258.5M
  4. Dimensional ETF Trust25434V872
    2.8%$196.1M
  5. Dimensional ETF Trust25434V401
    2.5%$179.9M

Biggest buys

New and added positions, by estimated amount bought

  1. Dimensional U.S. Core Equity 2 ETF25434V708
    +$17.1MAdded
  2. Dimensional ETF Trust25434V849
    +$13.1MAdded
  3. iShares Tr46434V613
    +$11.9MAdded
  4. Dimensional ETF Trust25434V872
    +$10.9MAdded
  5. State Street SPDR Portfolio Aggregate Bond ETF78464A649
    +$10.5MAdded

Largest weight increases

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

  1. Dimensional U.S. Core Equity 2 ETF25434V708
    +0.25 pp9.8% → 10.1%
  2. AAPLApple Inc.
    +0.17 pp1.3% → 1.5%History
  3. Dimensional ETF Trust25434V831
    +0.14 pp2.3% → 2.4%
  4. Vanguard Scottsdale FDS92206C730
    +0.14 pp1.6% → 1.7%
  5. Dimensional ETF Trust25434V849
    +0.14 pp0.9% → 1.1%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BKNGBooking Holdings Inc.
    −$8.93MReducedConverted for a 25-for-1 splitHistory
  2. NVDANVIDIA Corp
    −$7.10MReducedHistory
  3. Vanguard Short-Term Bond ETF921937827
    −$5.91MReduced
  4. UALUnited Airlines Holdings, Inc.
    −$4.49MReducedHistory
  5. Dimensional U.S. Targeted Value ETF25434V609
    −$3.82MReduced

Largest weight decreases

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

  1. Vanguard Short-Term Bond ETF921937827
    −0.20 pp1.9% → 1.7%
  2. NVDANVIDIA Corp
    −0.13 pp0.4% → 0.3%History
  3. MSFTMicrosoft Corp
    −0.10 pp0.8% → 0.7%History
  4. Vanguard Ftse Developed Markets ETF921943858
    −0.08 pp1.8% → 1.7%
  5. Vanguard Instl Index FD922040845
    −0.07 pp0.5% → 0.4%

Metrics

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

Portfolio value
$7.08B
+$341.1M (+5.1%) vs. prior quarter
Positions
695
+18 vs. prior quarter
Top 10 concentration
33.5%
Top 10 as share of value
Turnover
1.5%
Q2 2026, one quarter
Average holding period
11.4 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

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

Peak $7.08B (Q2 2026)

Q1 2021: $317.2MQ2 2021: $608.7MQ3 2021: $695.6MQ4 2021: $784.1MQ1 2022: $710.0MQ2 2022: $837.8MQ3 2022: $859.4MQ4 2022: $1.10BQ2 2023: $1.40BQ3 2023: $1.41BQ4 2023: $1.79BQ1 2024: $1.98BQ2 2024: $2.24BQ3 2024: $2.43BQ4 2024: $2.61BQ1 2025: $2.91BQ2 2025: $3.69BQ3 2025: $4.49BQ4 2025: $5.06BQ1 2026: $6.74BQ2 2026: $7.08B
Q1 2021Q2 2026
13F filings of Apella Capital, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 8, 2026695$7.08BDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFDimensional ETF Trustvs. Q1 2026SEC
Q1 2026Apr 20, 2026677$6.74BDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFDimensional ETF Trustvs. Q4 2025SEC
Q4 2025Jan 21, 2026531$5.06BDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFDimensional ETF Trustvs. Q3 2025SEC
Q3 2025Oct 17, 2025473$4.49BDimensional U.S. Core Equity 2 ETFDimensional ETF TrustVanguard Morningstar Total Stock Market ETFvs. Q2 2025SEC
Q2 2025Jul 8, 2025423$3.69BDimensional U.S. Core Equity 2 ETFDimensional ETF TrustVanguard Morningstar Total Stock Market ETFvs. Q1 2025SEC
Q1 2025Apr 10, 2025386$2.91BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFDimensional ETF Trustvs. Q4 2024SEC
Q4 2024Jan 14, 2025341$2.61BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFVanguard Total Bond Market ETFvs. Q3 2024SEC
Q3 2024Oct 3, 2024320$2.43BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFVanguard Total International Bond ETFvs. Q2 2024SEC
Q2 2024Jul 10, 2024307$2.24BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFVanguard Total International Bond ETFvs. Q1 2024SEC
Q1 2024Apr 10, 2024294$1.98BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFVanguard Total International Bond ETFvs. Q4 2023SEC
Q4 2023Jan 5, 2024292$1.79BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFVanguard Total International Bond ETFvs. Q3 2023SEC
Q3 2023Oct 10, 2023259$1.41BDimensional U.S. Core Equity 2 ETFVanguard Short-Term Bond ETFVanguard Total International Bond ETFvs. Q2 2023SEC
Q2 2023Jul 6, 2023256$1.40BDimensional U.S. Core Equity 2 ETFVanguard Total International Bond ETFVanguard Short-Term Bond ETF–SEC
Q4 2022Jan 10, 2023234$1.10BDimensional U.S. Core Equity 2 ETFVanguard Total International Bond ETFVanguard Short-Term Bond ETFvs. Q3 2022SEC
Q3 2022Oct 11, 2022213$859.4MDimensional U.S. Core Equity 2 ETFVanguard Total International Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2022SEC
Q2 2022Jul 8, 2022217$837.8MDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFVanguard Total International Bond ETFvs. Q1 2022SEC
Q1 2022Apr 11, 2022208$710.0MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Total International Bond ETFvs. Q4 2021SEC
Q4 2021Jan 13, 2022203$784.1MDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFSchwab Strategic Trvs. Q3 2021SEC
Q3 2021Jan 18, 2022Amended199$695.6MDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFSchwab Strategic Trvs. Q2 2021SEC
Q2 2021Jan 18, 2022Amended204$608.7MDimensional U.S. Core Equity 2 ETFVanguard Morningstar Total Stock Market ETFSchwab Strategic Trvs. Q1 2021SEC
Q1 2021Apr 15, 2021129$317.2MVanguard Morningstar Total Stock Market ETFVanguard Star FDSVanguard Short-Term Bond ETF–SEC