Skip to main content
Livermore
Livermore
ZHEN

Martin Capital Advisors, LLP

SEC CIK
0001904126
Latest filing
Jul 24, 2026

The latest 13F from Martin Capital Advisors, LLP covers Q2 2026 (filed Jul 24, 2026): 77 long positions worth $190.8M. The top 10 holdings make up 58.2% of the portfolio, and the largest is Apple Inc. (AAPL) at 20.8%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 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
5
Est. +$1.40M
Added
34
Est. +$3.51M
Reduced
16
Est. −$348.7K
Sold out
1
Est. −$236.8K

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    20.8%$39.6MHistory
  2. NVDANVIDIA Corp
    7.4%$14.1MHistory
  3. LRCXLam Research Corp
    6.2%$11.8MHistory
  4. Invesco QQQ Trust Series I46090E103
    5.1%$9.78M
  5. ISRGIntuitive Surgical Inc
    4.2%$8.06MHistory

Share of portfolio

Top 5 holdings and the other 72 positions, by share of portfolio value

  1. AAPL20.8%
  2. NVDA7.4%
  3. LRCX6.2%
  4. Invesco QQQ Trust Series I5.1%
  5. ISRG4.2%
  6. Other 72 positions56.3%

Biggest buys

New and added positions, by estimated amount bought

  1. AXONAxon Enterprise, Inc.
    +$365.0KNewHistory
  2. SLSSELLAS Life Sciences Group, Inc.
    +$340.7KNewHistory
  3. DELLDell Technologies Inc.
    +$274.0KNewHistory
  4. AMDAdvanced Micro Devices Inc
    +$237.6KAddedHistory
  5. ADIAnalog Devices Inc
    +$209.3KNewHistory

Largest weight increases

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

  1. LRCXLam Research Corp
    +2.53 pp3.7% → 6.2%History
  2. SNDKSandisk Corp
    +0.57 pp0.3% → 0.8%History
  3. AMATApplied Materials Inc
    +0.53 pp0.6% → 1.1%History
  4. AMDAdvanced Micro Devices Inc
    +0.49 pp0.3% → 0.8%History
  5. TXNTexas Instruments Inc
    +0.45 pp1.4% → 1.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ZTSZoetis Inc.
    −$236.8KSold outHistory
  2. USPHU S Physical Therapy Inc
    −$72.8KReducedHistory
  3. Invesco QQQ Trust Series I46090E103
    −$53.0KReduced
  4. TSCOTractor Supply Co
    −$49.5KReducedHistory
  5. BNYBank of New York Mellon Corp
    −$28.9KReducedHistory

Largest weight decreases

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

  1. TSCOTractor Supply Co
    −0.49 pp1.1% → 0.6%History
  2. Vanguard Scottsdale FDS92206C409
    −0.24 pp1.4% → 1.2%
  3. USPHU S Physical Therapy Inc
    −0.18 pp0.6% → 0.4%History
  4. Vanguard Morningstar Total Stock Market ETF922908769
    −0.17 pp3.7% → 3.5%
  5. ZTSZoetis Inc.
    −0.15 pp0.1% → 0.0%History

Metrics

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

Portfolio value
$190.8M
+$32.4M (+20.5%) vs. prior quarter
Positions
77
+4 vs. prior quarter
Top 10 concentration
58.2%
Top 10 as share of value
Turnover
0.3%
Q2 2026, one quarter
Average holding period
16.9 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 (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $190.8M (Q2 2026)

Q4 2021: $161.6MQ1 2022: $146.0MQ2 2022: $113.4MQ3 2022: $68.1MQ4 2022: $89.4MQ1 2023: $96.8MQ2 2023: $109.2MQ3 2023: $102.8MQ4 2023: $118.4MQ1 2024: $127.5MQ2 2024: $133.3MQ3 2024: $140.4MQ4 2024: $155.2MQ1 2025: $140.2MQ2 2025: $153.7MQ3 2025: $165.7MQ4 2025: $170.5MQ1 2026: $158.3MQ2 2026: $190.8M
Q4 2021Q2 2026
13F filings of Martin Capital Advisors, LLP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 202677$190.8MAAPLNVDALRCXvs. Q1 2026SEC
Q1 2026May 5, 202673$158.3MAAPLNVDAISRGvs. Q4 2025SEC
Q4 2025Jan 26, 202672$170.5MAAPLNVDAISRGvs. Q3 2025SEC
Q3 2025Oct 15, 202574$165.7MAAPLNVDAISRGvs. Q2 2025SEC
Q2 2025Jul 15, 202570$153.7MAAPLNVDAISRGvs. Q1 2025SEC
Q1 2025May 1, 202567$140.2MAAPLISRGNVDAvs. Q4 2024SEC
Q4 2024Jan 28, 202569$155.2MAAPLISRGNVDAvs. Q3 2024SEC
Q3 2024Oct 11, 202467$140.4MAAPLISRGInvesco QQQ Trust Series Ivs. Q2 2024SEC
Q2 2024Jul 31, 202466$133.3MAAPLISRGInvesco QQQ Trust Series Ivs. Q1 2024SEC
Q1 2024May 1, 202467$127.5MAAPLISRGInvesco QQQ Trust Series Ivs. Q4 2023SEC
Q4 2023Jan 31, 202467$118.4MAAPLISRGInvesco QQQ Trust Series Ivs. Q3 2023SEC
Q3 2023Oct 16, 202362$102.8MAAPLISRGInvesco QQQ Trust Series Ivs. Q2 2023SEC
Q2 2023Aug 14, 202363$109.2MAAPLISRGInvesco QQQ Trust Series Ivs. Q1 2023SEC
Q1 2023May 1, 202362$96.8MAAPLISRGInvesco QQQ Trust Series Ivs. Q4 2022SEC
Q4 2022Feb 13, 202360$89.4MAAPLISRGInvesco QQQ Trust Series Ivs. Q3 2022SEC
Q3 2022Oct 12, 202255$68.1MAAPLInvesco QQQ Trust Series IVanguard Morningstar Total Stock Market ETFvs. Q2 2022SEC
Q2 2022Jul 13, 202260$113.4MAAPLISRGInvesco QQQ Trust Series Ivs. Q1 2022SEC
Q1 2022May 5, 202264$146.0MAAPLISRGInvesco QQQ Trust Series Ivs. Q4 2021SEC
Q4 2021Feb 8, 202264$161.6MAAPLISRGInvesco QQQ Trust Series I–SEC