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Livermore
Livermore
ZHEN

TFB Advisors LLC

SEC CIK
0001965201
Latest filing
Aug 6, 2026

The latest 13F from TFB Advisors LLC covers Q2 2026 (filed Aug 6, 2026): 190 long positions worth $227.0M. The top 10 holdings make up 33.5% of the portfolio, and the largest is Vanguard S&P 500 ETF at 7.4%. 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.

Full comparison
New
19
Est. +$6.41M
Added
93
Est. +$12.3M
Reduced
64
Est. −$3.78M
Sold out
9
Est. −$2.96M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    7.4%$16.7M
  2. Vanguard World FD921910816
    4.3%$9.82M
  3. iShares Core S&P 500 ETF464287200
    4.2%$9.50M
  4. Vanguard World FD921910840
    3.0%$6.89M
  5. Fidelity Merrimack STR Tr316188309
    2.9%$6.59M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$1.45MAdded
  2. DFTXDefinium Therapeutics, Inc.
    +$1.01MNewHistory
  3. iShares Tr464287457
    +$869.2KAdded
  4. WDCWestern Digital Corp
    +$845.7KAddedHistory
  5. Vanguard High Dividend Yield Index ETF921946406
    +$825.1KAdded

Largest weight increases

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

  1. iShares Core S&P 500 ETF464287200
    +0.51 pp3.7% → 4.2%
  2. WDCWestern Digital Corp
    +0.50 pp0.1% → 0.6%History
  3. DFTXDefinium Therapeutics, Inc.
    +0.45 pp0.0% → 0.4%History
  4. Schwab US Dividend Equity ETF808524797
    +0.33 pp0.2% → 0.5%
  5. iShares Tr464287457
    +0.30 pp0.5% → 0.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464287432
    −$824.2KSold out
  2. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −$813.2KReduced
  3. SPDR Series Trust78468R754
    −$353.3KSold out
  4. TMHCTaylor Morrison Home Corp
    −$334.4KSold outHistory
  5. Vanguard Morningstar Mid-Cap ETF922908629
    −$317.8KReducedConverted for a 4-for-1 split

Largest weight decreases

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

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −0.64 pp1.8% → 1.1%
  2. iShares Tr464287432
    −0.43 pp0.4% → 0.0%
  3. MSFTMicrosoft Corp
    −0.29 pp1.2% → 0.9%History
  4. NEMNEWMONT Corp
    −0.19 pp0.6% → 0.4%History
  5. SPDR Series Trust78468R754
    −0.18 pp0.2% → 0.0%

Metrics

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

Portfolio value
$227.0M
+$36.0M (+18.9%) vs. prior quarter
Positions
190
+10 vs. prior quarter
Top 10 concentration
33.5%
Top 10 as share of value
Turnover
3.2%
Q2 2026, one quarter
Average holding period
10.5 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 $381.8M (Q2 2025)

Q4 2022: $119.4MQ1 2023: $131.5MQ2 2023: $229.6MQ3 2023: $82.3MQ4 2023: $195.2MQ1 2024: $275.7MQ2 2024: $307.0MQ3 2024: $336.1MQ4 2024: $349.7MQ1 2025: $347.1MQ2 2025: $381.8MQ3 2025: $343.4MQ4 2025: $358.0MQ1 2026: $191.0MQ2 2026: $227.0M
Q4 2022Q2 2026
13F filings of TFB Advisors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 2026190$227.0MVanguard S&P 500 ETFVanguard World FDiShares Core S&P 500 ETFvs. Q1 2026SEC
Q1 2026Apr 20, 2026180$191.0MVanguard S&P 500 ETFVanguard World FDiShares Core S&P 500 ETFvs. Q4 2025SEC
Q4 2025Feb 13, 2026307$358.0MVanguard S&P 500 ETFVanguard World FDiShares Core S&P 500 ETFvs. Q3 2025SEC
Q3 2025Nov 4, 2025308$343.4MVanguard S&P 500 ETFVanguard World FDNVDAvs. Q2 2025SEC
Q2 2025Jul 30, 2025334$381.8MVanguard S&P 500 ETFVanguard World FDNVDAvs. Q1 2025SEC
Q1 2025May 14, 2025320$347.1MVanguard S&P 500 ETFVanguard World FDVanguard World FDvs. Q4 2024SEC
Q4 2024Jan 29, 2025320$349.7MVanguard S&P 500 ETFVanguard World FDVanguard World FDvs. Q3 2024SEC
Q3 2024Oct 31, 2024312$336.1MVanguard S&P 500 ETFVanguard World FDVanguard World FDvs. Q2 2024SEC
Q2 2024Jul 30, 2024289$307.0MVanguard S&P 500 ETFVanguard World FDVanguard World FDvs. Q1 2024SEC
Q1 2024May 3, 2024263$275.7MVanguard S&P 500 ETFVanguard World FDVanguard World FDvs. Q4 2023SEC
Q4 2023Jan 18, 2024169$195.2MVanguard S&P 500 ETFVanguard World FDVanguard World FDvs. Q3 2023SEC
Q3 2023Nov 13, 2023105$82.3MiShares TrPIMCO Enhanced Short Maturity Active Exchange-Traded FundiShares Core MSCI Eafe ETFvs. Q2 2023SEC
Q2 2023Jul 18, 2023231$229.6MVanguard World FDVanguard S&P 500 ETFVanguard World FDvs. Q1 2023SEC
Q1 2023Apr 10, 2023134$131.5MVanguard World FDVanguard World FDVanguard S&P 500 ETFvs. Q4 2022SEC
Q4 2022Feb 15, 2023126$119.4MVanguard World FDVanguard World FDVanguard S&P 500 ETF–SEC