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Livermore
Livermore
ZHEN

Mill Creek Capital Advisors, LLC

SEC CIK
0001964962
Latest filing
May 14, 2026

The latest 13F from Mill Creek Capital Advisors, LLC covers Q1 2026 (filed May 14, 2026): 260 long positions worth $4.87B. The top 10 holdings make up 76.5% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 22.4%. Livermore has 15 filings on Form 13F from this institution, going back to Q4 2022.

What changed in Q1 2026

Share counts compared with Q4 2025: 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
15
Est. +$6.26M
Added
104
Est. +$81.6M
Reduced
71
Est. −$26.0M
Sold out
6
Est. −$1.31M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    22.4%$1.09B
  2. Vanguard Morningstar Value ETF922908744
    21.1%$1.03B
  3. iShares Core MSCI Total International Stock ETF46432F834
    9.5%$464.2M
  4. iShares Core MSCI Eafe ETF46432F842
    8.6%$419.6M
  5. iShares Core MSCI Emerging Markets ETF46434G103
    3.6%$175.0M

Share of portfolio

Top 5 holdings and the other 255 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF22.4%
  2. Vanguard Morningstar Value ETF21.1%
  3. iShares Core MSCI Total International Stock ETF9.5%
  4. iShares Core MSCI Eafe ETF8.6%
  5. iShares Core MSCI Emerging Markets ETF3.6%
  6. Other 255 positions34.7%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core MSCI Eafe ETF46432F842
    +$21.0MAdded
  2. iShares Core MSCI Total International Stock ETF46432F834
    +$11.3MAdded
  3. iShares Core MSCI Emerging Markets ETF46434G103
    +$8.07MAdded
  4. Vanguard Morningstar Growth ETF922908736
    +$6.74MAdded
  5. iShares Core U.S. Aggregate Bond ETF464287226
    +$3.89MAdded

Largest weight increases

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

  1. Vanguard Morningstar Value ETF922908744
    +0.79 pp20.3% → 21.1%
  2. iShares Core MSCI Eafe ETF46432F842
    +0.59 pp8.0% → 8.6%
  3. iShares Core MSCI Total International Stock ETF46432F834
    +0.52 pp9.0% → 9.5%
  4. iShares Core MSCI Emerging Markets ETF46434G103
    +0.32 pp3.3% → 3.6%
  5. IAUiShares Gold Trust
    +0.10 pp0.3% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Scottsdale FDS92206C102
    −$7.94MReduced
  2. JNJJohnson & Johnson
    −$2.56MReducedHistory
  3. iShares Tr464288273
    −$2.02MReduced
  4. Lattice Strategies Tr518416102
    −$1.91MReduced
  5. SPYSPDR S&P 500 ETF Trust
    −$1.57MReducedHistory

Largest weight decreases

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

  1. Vanguard Scottsdale FDS92206C102
    −0.16 pp0.3% → 0.1%
  2. SPYSPDR S&P 500 ETF Trust
    −0.10 pp1.7% → 1.6%History
  3. iShares Tr464288257
    −0.04 pp1.2% → 1.2%
  4. ABTAbbott Laboratories
    −0.04 pp<0.1% → <0.1%History
  5. iShares Tr464288273
    −0.03 pp0.4% → 0.4%

Metrics

13F metrics for Q1 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$4.87B
−$39.7M (−0.8%) vs. prior quarter
Positions
260
+9 vs. prior quarter
Top 10 concentration
76.5%
Top 10 as share of value
Turnover
0.6%
Q1 2026, one quarter
Average holding period
13.7 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

14 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $4.91B (Q4 2025)

Q4 2022: $2.41BQ1 2023: $2.72BQ2 2023: $3.10BQ3 2023: $3.01BQ4 2023: $3.38BQ1 2024: $3.68BQ2 2024: $3.93BQ3 2024: $4.15BQ4 2024: $4.16BQ1 2025: $4.13BQ2 2025: $4.51BQ3 2025: $4.86BQ4 2025: $4.91BQ1 2026: $4.87B
Q4 2022Q1 2026
13F filings of Mill Creek Capital Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q1 2026May 14, 2026260$4.87BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q4 2025SEC
Q4 2025Feb 13, 2026251$4.91BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q3 2025SEC
Q3 2025Nov 12, 2025271$4.86BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q2 2025SEC
Q2 2025Aug 11, 2025263$4.51BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q1 2025SEC
Q1 2025May 13, 2025251$4.13BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q4 2024SEC
Q4 2024Jan 29, 2025259$4.16BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q3 2024SEC
Q3 2024Nov 6, 2024249$4.15BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q2 2024SEC
Q2 2024Aug 14, 2024259$3.93BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q1 2024SEC
Q1 2024May 14, 2024240$3.68BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q4 2023SEC
Q4 2023Feb 14, 2024238$3.38BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q3 2023SEC
Q3 2023Nov 14, 2023225$3.01BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFiShares Core MSCI Total International Stock ETFvs. Q2 2023SEC
Q2 2023Aug 14, 2023239$3.10BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFiShares Core MSCI Total International Stock ETFvs. Q1 2023SEC
Q1 2023May 15, 2023248$2.72BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFiShares Core MSCI Total International Stock ETFvs. Q4 2022SEC
Q4 2022May 25, 2023Amended227$2.41BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFiShares Core MSCI Total International Stock ETF–SEC