CPA Asset Management LLC
- SEC CIK
- 0001963967
- Latest filing
- Jul 9, 2026
The latest 13F from CPA Asset Management LLC covers Q2 2026 (filed Jul 9, 2026): 97 long positions worth $347.2M. The top 10 holdings make up 63.9% of the portfolio, and the largest is Dimensional ETF Trust at 13.5%. Livermore has 15 filings on Form 13F from this institution, going back to Q4 2022.
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.
- New
- 3
- Est. +$31.3M
- Added
- 21
- Est. +$69.2M
- Reduced
- 34
- Est. −$71.8M
- Sold out
- 5
- Est. −$1.33M
Top 5 holdings
Share of this quarter's portfolio value
- Dimensional ETF Trust25434V86413.5%$46.8M
- Dimensional Emerging Core Equity Market ETF25434V3027.8%$27.2M
- Fidelity Merrimack STR Tr3161883096.7%$23.1M
- Vanguard Scottsdale FDS92206C1026.6%$23.0M
- Dimensional U.S. Core Equity 2 ETF25434V7085.8%$20.1M
Share of portfolio
Top 5 holdings and the other 92 positions, by share of portfolio value
- Dimensional ETF Trust13.5%
- Dimensional Emerging Core Equity Market ETF7.8%
- Fidelity Merrimack STR Tr6.7%
- Vanguard Scottsdale FDS6.6%
- Dimensional U.S. Core Equity 2 ETF5.8%
- Other 92 positions59.6%
Biggest buys
New and added positions, by estimated amount bought
- Dimensional ETF Trust25434V864+$25.0MAdded
- Vanguard Scottsdale FDS92206C102+$23.0MNew
- Dimensional U.S. Core Equity 2 ETF25434V708+$19.5MAdded
- Vanguard Morningstar Growth ETF922908736+$9.05MAddedConverted for a 6-for-1 split
- Dimensional ETF Trust25434V666+$8.11MNew
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Vanguard Scottsdale FDS92206C102+6.63 pp0.0% → 6.6%
- Dimensional ETF Trust25434V864+6.15 pp7.3% → 13.5%
- Dimensional U.S. Core Equity 2 ETF25434V708+5.60 pp0.2% → 5.8%
- Vanguard Morningstar Growth ETF922908736+2.65 pp2.8% → 5.5%
- Dimensional ETF Trust25434V666+2.34 pp0.0% → 2.3%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- Vanguard Malvern FDS922020714−$13.9MReduced
- American Centy ETF Tr025072794−$8.77MReduced
- Dimensional ETF Trust25434V831−$8.36MReduced
- Fidelity Merrimack STR Tr316188309−$6.46MReduced
- Dimensional ETF Trust25434V625−$6.46MReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- Vanguard Malvern FDS922020714−4.76 pp5.2% → 0.5%
- Fidelity Merrimack STR Tr316188309−3.29 pp10.0% → 6.7%
- American Centy ETF Tr025072794−2.82 pp3.3% → 0.5%
- Dimensional ETF Trust25434V831−2.51 pp4.0% → 1.5%
- Dimensional ETF Trust25434V625−1.92 pp2.7% → 0.8%
Metrics
13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $347.2M
- +$49.1M (+16.5%) vs. prior quarter
- Positions
- 97
- −2 vs. prior quarter
- Top 10 concentration
- 63.9%
- Top 10 as share of value
- Turnover
- 22.7%
- Q2 2026, one quarter
- Average holding period
- 12.5 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 2022), so positions held before then are understated.
13F filings by quarter
15 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $347.2M (Q2 2026)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | Jul 9, 2026 | 97 | $347.2M | Dimensional ETF TrustDimensional Emerging Core Equity Market ETFFidelity Merrimack STR Tr | vs. Q1 2026 | SEC |
| Q1 2026 | May 5, 2026 | 99 | $298.2M | Fidelity Merrimack STR TrDimensional Emerging Core Equity Market ETFDimensional ETF Trust | vs. Q4 2025 | SEC |
| Q4 2025 | Jan 13, 2026 | 106 | $285.0M | Fidelity Merrimack STR TrDimensional Emerging Core Equity Market ETFIAU | vs. Q3 2025 | SEC |
| Q3 2025 | Oct 21, 2025 | 89 | $259.4M | Fidelity Merrimack STR TrDimensional Emerging Core Equity Market ETFIAU | vs. Q2 2025 | SEC |
| Q2 2025 | Jul 3, 2025 | 83 | $237.9M | Fidelity Merrimack STR TrDimensional Emerging Core Equity Market ETFDimensional ETF Trust | vs. Q1 2025 | SEC |
| Q1 2025 | Apr 21, 2025 | 84 | $227.2M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q4 2024 | SEC |
| Q4 2024 | Feb 4, 2025 | 78 | $215.2M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q3 2024 | SEC |
| Q3 2024 | Oct 22, 2024 | 77 | $207.1M | Fidelity Merrimack STR TrDimensional Emerging Core Equity Market ETFDimensional ETF Trust | vs. Q2 2024 | SEC |
| Q2 2024 | Jul 11, 2024 | 76 | $186.7M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q1 2024 | SEC |
| Q1 2024 | May 14, 2024 | 77 | $178.6M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q4 2023 | SEC |
| Q4 2023 | Jan 18, 2024 | 73 | $164.4M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q3 2023 | SEC |
| Q3 2023 | Nov 2, 2023 | 70 | $142.6M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q2 2023 | SEC |
| Q2 2023 | Jul 28, 2023 | 67 | $139.2M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q1 2023 | SEC |
| Q1 2023 | Apr 20, 2023 | 69 | $133.9M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | vs. Q4 2022 | SEC |
| Q4 2022 | Feb 7, 2023 | 64 | $130.9M | Fidelity Merrimack STR TrDimensional ETF TrustDimensional Emerging Core Equity Market ETF | – | SEC |