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Livermore
Livermore
ZHEN

Carl Stuart Investment Advisor, Inc

SEC CIK
0001910180
Latest filing
Aug 6, 2026

The latest 13F from Carl Stuart Investment Advisor, Inc covers Q2 2026 (filed Aug 6, 2026): 21 long positions worth $248.6M. The top 10 holdings make up 97.9% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 51.5%. Livermore has 21 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
2
Est. +$567.6K
Added
6
Est. +$6.68M
Reduced
8
Est. −$1.90M
Sold out
8
Est. −$2.70M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    51.5%$127.9M
  2. IAUiShares Gold Trust
    15.6%$38.8MHistory
  3. Vanguard Star FDS921909768
    13.8%$34.3M
  4. Vanguard S&P 500 ETF922908363
    11.3%$28.0M
  5. BRK.BBerkshire Hathaway Inc
    1.2%$3.03MHistory

Share of portfolio

Top 5 holdings and the other 16 positions, by share of portfolio value

  1. Vanguard Morningstar Total Stock Market ETF51.5%
  2. IAU15.6%
  3. Vanguard Star FDS13.8%
  4. Vanguard S&P 500 ETF11.3%
  5. BRK.B1.2%
  6. Other 16 positions6.6%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +$2.93MAdded
  2. Vanguard Star FDS921909768
    +$2.18MAdded
  3. IAUMiShares Gold Trust Micro
    +$1.35MAddedHistory
  4. WMBWilliams Companies, Inc.
    +$319.7KNewHistory
  5. OKEONEOK Inc
    +$248.0KNewHistory

Largest weight increases

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

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +4.11 pp47.3% → 51.5%
  2. Vanguard Star FDS921909768
    +1.14 pp12.7% → 13.8%
  3. IAUMiShares Gold Trust Micro
    +0.40 pp0.7% → 1.1%History
  4. WMBWilliams Companies, Inc.
    +0.13 pp0.0% → 0.1%History
  5. OKEONEOK Inc
    +0.10 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. IAUiShares Gold Trust
    −$1.15MReducedHistory
  2. Schwab Fundamental International Equity ETF808524755
    −$580.1KSold out
  3. Vanguard Whitehall FDS921946794
    −$566.4KSold out
  4. Vanguard Whitehall FDS921946810
    −$440.5KSold out
  5. MSFTMicrosoft Corp
    −$385.7KReducedHistory

Largest weight decreases

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

  1. IAUiShares Gold Trust
    −4.77 pp20.4% → 15.6%History
  2. Schwab Fundamental International Equity ETF808524755
    −0.25 pp0.3% → 0.0%
  3. Vanguard Whitehall FDS921946794
    −0.25 pp0.2% → 0.0%
  4. Vanguard Whitehall FDS921946810
    −0.19 pp0.2% → 0.0%
  5. MSFTMicrosoft Corp
    −0.19 pp0.4% → 0.2%History

Metrics

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

Portfolio value
$248.6M
+$19.7M (+8.6%) vs. prior quarter
Positions
21
−6 vs. prior quarter
Top 10 concentration
97.9%
Top 10 as share of value
Turnover
1.9%
Q2 2026, one quarter
Average holding period
9.4 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 (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 $248.6M (Q2 2026)

Q4 2021: $137.8MQ1 2022: $137.6MQ2 2022: $115.0MQ3 2022: $112.8MQ4 2022: $108.2MQ1 2023: $12.6MQ2 2023: $130.3MQ3 2023: $124.2MQ4 2023: $146.7MQ1 2024: $154.2MQ2 2024: $159.9MQ3 2024: $177.8MQ4 2024: $187.4MQ1 2025: $177.1MQ2 2025: $195.4MQ3 2025: $106.4MQ4 2025: $110.8MQ1 2026: $228.9MQ2 2026: $248.6M
Q4 2021Q2 2026
13F filings of Carl Stuart Investment Advisor, Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 202621$248.6MVanguard Morningstar Total Stock Market ETFIAUVanguard Star FDSvs. Q1 2026SEC
Q1 2026Apr 21, 202627$228.9MVanguard Morningstar Total Stock Market ETFIAUVanguard Star FDSvs. Q4 2025SEC
Q4 2025Feb 13, 202617$110.8MIAUVanguard Star FDSVanguard S&P 500 ETFvs. Q3 2025SEC
Q3 2025Nov 3, 202517$106.4MIAUVanguard Star FDSVanguard S&P 500 ETFvs. Q2 2025SEC
Q2 2025Jul 25, 202518$195.4MVanguard Morningstar Total Stock Market ETFIAUVanguard Star FDSvs. Q1 2025SEC
Q1 2025Apr 23, 202516$177.1MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q4 2024SEC
Q4 2024Feb 10, 202519$187.4MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q3 2024SEC
Q3 2024Oct 21, 2024Amended16$177.8MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q2 2024SEC
Q2 2024Jul 31, 202415$159.9MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q1 2024SEC
Q1 2024Apr 24, 202415$154.2MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q4 2023SEC
Q4 2023Jan 12, 202431$146.7MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q3 2023SEC
Q3 2023Oct 10, 202322$124.2MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q2 2023SEC
Q2 2023Jul 19, 202323$130.3MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q1 2023SEC
Q1 2023Apr 10, 202339$12.6MVanguard Morningstar Total Stock Market ETFOBKBRK.Bvs. Q4 2022SEC
Q4 2022Feb 13, 202325$108.2MVanguard Morningstar Total Stock Market ETFVanguard S&P 500 ETFIAUvs. Q3 2022SEC
Q3 2022Nov 10, 202224$112.8MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q2 2022SEC
Q2 2022Aug 11, 202225$115.0MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q1 2022SEC
Q1 2022May 4, 2022Amended96$137.6MVanguard Morningstar Total Stock Market ETFIAUVanguard S&P 500 ETFvs. Q4 2021SEC
Q4 2021Feb 15, 202227$137.8MVanguard Morningstar Total Stock Market ETFVanguard S&P 500 ETFIAU–SEC