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Livermore
Livermore
ZHEN

Cobblestone Asset Management LLC

SEC CIK
0001994512
Latest filing
Jul 21, 2026

The latest 13F from Cobblestone Asset Management LLC covers Q2 2026 (filed Jul 21, 2026): 74 long positions worth $239.8M. The top 10 holdings make up 62.2% of the portfolio, and the largest is JPMorgan Ultra-Short Income ETF at 15.1%. Livermore has 12 filings on Form 13F from this institution, going back to Q3 2023.

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
10
Est. +$17.5M
Added
31
Est. +$27.8M
Reduced
25
Est. −$25.1M
Sold out
9
Est. −$21.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. JPMorgan Ultra-Short Income ETF46641Q837
    15.1%$36.3M
  2. iShares Core S&P 500 ETF464287200
    13.7%$32.9M
  3. J P Morgan Exchange Traded F46654Q716
    5.1%$12.3M
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    4.9%$11.8M
  5. BlackRock ETF Trust09290C103
    4.8%$11.4M

Share of portfolio

Top 5 holdings and the other 69 positions, by share of portfolio value

  1. JPMorgan Ultra-Short Income ETF15.1%
  2. iShares Core S&P 500 ETF13.7%
  3. J P Morgan Exchange Traded F5.1%
  4. State Street SPDR Portfolio S&P 500 Growth ETF4.9%
  5. BlackRock ETF Trust4.8%
  6. Other 69 positions56.3%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$11.6MAdded
  2. JPMorgan Ultra-Short Income ETF46641Q837
    +$8.62MAdded
  3. Schwab International Equity ETF808524805
    +$6.05MNew
  4. BlackRock ETF Trust09290C665
    +$4.61MNew
  5. BlackRock ETF Trust II092528835
    +$3.71MNew

Largest weight increases

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

  1. iShares Core S&P 500 ETF464287200
    +5.37 pp8.4% → 13.7%
  2. JPMorgan Ultra-Short Income ETF46641Q837
    +2.69 pp12.4% → 15.1%
  3. Schwab International Equity ETF808524805
    +2.52 pp0.0% → 2.5%
  4. BlackRock ETF Trust09290C665
    +1.92 pp0.0% → 1.9%
  5. BlackRock ETF Trust II092528835
    +1.55 pp0.0% → 1.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr46435G409
    −$5.58MReduced
  2. iShares Tr464288885
    −$5.42MSold out
  3. J P Morgan Exchange Traded F46641Q761
    −$5.07MSold out
  4. iShares Tr46435G672
    −$4.36MSold out
  5. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −$2.92MReduced

Largest weight decreases

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

  1. iShares Tr464288885
    −2.44 pp2.4% → 0.0%
  2. iShares Tr46435G409
    −2.41 pp3.7% → 1.3%
  3. J P Morgan Exchange Traded F46641Q761
    −2.28 pp2.3% → 0.0%
  4. iShares Tr46435G672
    −1.96 pp2.0% → 0.0%
  5. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −1.24 pp5.5% → 4.2%

Metrics

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

Portfolio value
$239.8M
+$17.4M (+7.8%) vs. prior quarter
Positions
74
+1 vs. prior quarter
Top 10 concentration
62.2%
Top 10 as share of value
Turnover
19.6%
Q2 2026, one quarter
Average holding period
9.0 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 (Q3 2023), so positions held before then are understated.

13F filings by quarter

12 quarters, going back to Q3 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $239.8M (Q2 2026)

Q3 2023: $121.6MQ4 2023: $135.6MQ1 2024: $147.4MQ2 2024: $154.4MQ3 2024: $166.3MQ4 2024: $153.3MQ1 2025: $171.2MQ2 2025: $190.1MQ3 2025: $218.7MQ4 2025: $222.8MQ1 2026: $222.4MQ2 2026: $239.8M
Q3 2023Q2 2026
13F filings of Cobblestone Asset Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 21, 202674$239.8MJPMorgan Ultra-Short Income ETFiShares Core S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q1 2026SEC
Q1 2026Apr 28, 202673$222.4MJPMorgan Ultra-Short Income ETFiShares Core S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q4 2025SEC
Q4 2025Jan 15, 202670$222.8MJPMorgan Ultra-Short Income ETFiShares Core S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2025SEC
Q3 2025Oct 20, 202574$218.7MJPMorgan Ultra-Short Income ETFiShares Core S&P 500 ETFBlackRock ETF Trustvs. Q2 2025SEC
Q2 2025Jul 14, 202569$190.1MJPMorgan Ultra-Short Income ETFiShares Core S&P 500 ETFJ P Morgan Exchange Traded Fvs. Q1 2025SEC
Q1 2025Apr 22, 202561$171.2MiShares Core S&P 500 ETFJ P Morgan Exchange Traded FJ P Morgan Exchange Traded Fvs. Q4 2024SEC
Q4 2024Jan 22, 202552$153.3MiShares Core S&P 500 ETFJ P Morgan Exchange Traded FState Street SPDR Portfolio S&P 500 Growth ETFvs. Q3 2024SEC
Q3 2024Oct 18, 202445$166.3MVanguard Total Bond Market ETFiShares Core S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q2 2024SEC
Q2 2024Jul 17, 202444$154.4MiShares Core S&P 500 ETFVanguard Total Bond Market ETFJPMorgan Ultra-Short Income ETFvs. Q1 2024SEC
Q1 2024Apr 18, 202444$147.4MiShares Core S&P 500 ETFVanguard Total Bond Market ETFJ P Morgan Exchange Traded Fvs. Q4 2023SEC
Q4 2023Jan 22, 202440$135.6MiShares Core S&P 500 ETFVanguard Total Bond Market ETFJ P Morgan Exchange Traded Fvs. Q3 2023SEC
Q3 2023Oct 19, 202342$121.6MiShares Core S&P 500 ETFVanguard Total Bond Market ETFiShares Tr–SEC