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Livermore
Livermore
ZHEN

Studio Investment Management LLC

SEC CIK
0001893893
Latest filing
Jul 31, 2026

The latest 13F from Studio Investment Management LLC covers Q2 2026 (filed Jul 31, 2026): 181 long positions worth $591.7M. The top 10 holdings make up 48.2% of the portfolio, and the largest is Vanguard Malvern FDS at 15.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q3 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
9
Est. +$7.30M
Added
72
Est. +$11.4M
Reduced
94
Est. −$10.8M
Sold out
12
Est. −$8.53M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Malvern FDS922020805
    15.9%$93.9M
  2. Vanguard Dividend Appreciation ETF921908844
    5.7%$33.7M
  3. Vanguard Morningstar Value ETF922908744
    5.7%$33.6M
  4. Dimensional ETF Trust25434V799
    3.6%$21.3M
  5. Schwab Fundamental International Equity ETF808524755
    3.4%$20.2M

Share of portfolio

Top 5 holdings and the other 176 positions, by share of portfolio value

  1. Vanguard Malvern FDS15.9%
  2. Vanguard Dividend Appreciation ETF5.7%
  3. Vanguard Morningstar Value ETF5.7%
  4. Dimensional ETF Trust3.6%
  5. Schwab Fundamental International Equity ETF3.4%
  6. Other 176 positions65.7%

Biggest buys

New and added positions, by estimated amount bought

  1. HONHoneywell International Inc
    +$2.25MNewHistory
  2. HONAHoneywell Aerospace Inc.
    +$2.22MNewHistory
  3. Vanguard Scottsdale FDS92206C102
    +$1.67MAdded
  4. Vanguard Malvern FDS922020805
    +$850.6KAdded
  5. NKENIKE, Inc.
    +$647.2KNewHistory

Largest weight increases

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

  1. HONHoneywell International Inc
    +0.38 pp0.0% → 0.4%History
  2. HONAHoneywell Aerospace Inc.
    +0.37 pp0.0% → 0.4%History
  3. Dimensional ETF Trust25434V732
    +0.19 pp1.4% → 1.5%
  4. UNHUnitedHealth Group Inc
    +0.16 pp0.4% → 0.5%History
  5. FTNTFortinet, Inc.
    +0.12 pp0.1% → 0.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$4.63MSold outHistory
  2. XOMExxonMobil Holdings Corp
    −$1.31MSold outHistory
  3. CATCaterpillar Inc
    −$1.13MReducedHistory
  4. Vanguard Morningstar Small-Cap Value ETF922908611
    −$1.00MReduced
  5. Vanguard Morningstar Total Stock Market ETF922908769
    −$992.8KReduced

Largest weight decreases

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

  1. HONHoneywell International Inc
    −0.83 pp0.8% → 0.0%History
  2. XOMExxonMobil Holdings Corp
    −0.24 pp0.2% → 0.0%History
  3. iShares Tr46436E718
    −0.20 pp1.5% → 1.3%
  4. CVXChevron Corp
    −0.19 pp0.8% → 0.6%History
  5. NEENextera Energy Inc
    −0.18 pp1.5% → 1.3%History

Metrics

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

Portfolio value
$591.7M
+$37.1M (+6.7%) vs. prior quarter
Positions
181
−3 vs. prior quarter
Top 10 concentration
48.2%
Top 10 as share of value
Turnover
3.3%
Q2 2026, one quarter
Average holding period
17.3 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 (Q3 2021), so positions held before then are understated.

13F filings by quarter

20 quarters, going back to Q3 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $591.7M (Q2 2026)

Q3 2021: $232.8MQ4 2021: $277.7MQ1 2022: $303.4MQ2 2022: $287.9MQ3 2022: $277.7MQ4 2022: $308.4MQ1 2023: $331.2MQ2 2023: $357.4MQ3 2023: $358.1MQ4 2023: $391.9MQ1 2024: $421.4MQ2 2024: $439.5MQ3 2024: $475.8MQ4 2024: $470.3MQ1 2025: $483.8MQ2 2025: $498.1MQ3 2025: $529.8MQ4 2025: $547.3MQ1 2026: $554.6MQ2 2026: $591.7M
Q3 2021Q2 2026
13F filings of Studio Investment Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 31, 2026181$591.7MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q1 2026SEC
Q1 2026May 15, 2026Amended184$554.6MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q4 2025SEC
Q4 2025Feb 9, 2026180$547.3MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q3 2025SEC
Q3 2025Nov 7, 2025174$529.8MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q2 2025SEC
Q2 2025Jul 30, 2025173$498.1MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q1 2025SEC
Q1 2025May 14, 2025320$483.8MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q4 2024SEC
Q4 2024Feb 14, 2025330$470.3MVanguard Malvern FDSVanguard Dividend Appreciation ETFVanguard Morningstar Value ETFvs. Q3 2024SEC
Q3 2024Nov 12, 2024293$475.8MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q2 2024SEC
Q2 2024Aug 7, 2024303$439.5MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q1 2024SEC
Q1 2024May 15, 2024266$421.4MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q4 2023SEC
Q4 2023Feb 16, 2024245$391.9MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q3 2023SEC
Q3 2023Nov 15, 2023234$358.1MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q2 2023SEC
Q2 2023Aug 14, 2023223$357.4MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q1 2023SEC
Q1 2023May 15, 2023227$331.2MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q4 2022SEC
Q4 2022Feb 14, 2023202$308.4MVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFSchwab Fundamental International Equity ETFvs. Q3 2022SEC
Q3 2022Nov 14, 2022169$277.7MVanguard Malvern FDSVanguard Morningstar Value ETFVanguard Dividend Appreciation ETFvs. Q2 2022SEC
Q2 2022Aug 15, 2022193$287.9MVanguard Malvern FDSVanguard Dividend Appreciation ETFSchwab Fundamental International Equity ETFvs. Q1 2022SEC
Q1 2022May 16, 2022103$303.4MVanguard Malvern FDSSchwab Fundamental International Equity ETFVanguard Dividend Appreciation ETFvs. Q4 2021SEC
Q4 2021Feb 14, 2022104$277.7MVanguard Malvern FDSSchwab Fundamental International Equity ETFVanguard Dividend Appreciation ETFvs. Q3 2021SEC
Q3 2021Nov 17, 2021Amended104$232.8MVanguard Malvern FDSSchwab Fundamental International Equity ETFVanguard Dividend Appreciation ETF–SEC