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Livermore
Livermore
ZHEN

Duncan Williams Asset Management, LLC

SEC CIK
0002011771
Latest filing
Jul 22, 2026

The latest 13F from Duncan Williams Asset Management, LLC covers Q2 2026 (filed Jul 22, 2026): 172 long positions worth $443.6M. The top 10 holdings make up 57.0% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 11.8%. Livermore has 11 filings on Form 13F from this institution, going back to Q1 2024.

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
24
Est. +$30.1M
Added
68
Est. +$18.1M
Reduced
45
Est. −$4.66M
Sold out
6
Est. −$3.09M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    11.8%$52.4M
  2. WisdomTree Tr97717X669
    11.5%$51.0M
  3. iShares Core S&P US Value ETF464287663
    7.0%$31.1M
  4. American Centy ETF Tr025072174
    6.7%$29.8M
  5. Fidelity Covington Trust31609A503
    4.9%$21.7M

Share of portfolio

Top 5 holdings and the other 167 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF11.8%
  2. WisdomTree Tr11.5%
  3. iShares Core S&P US Value ETF7.0%
  4. American Centy ETF Tr6.7%
  5. Fidelity Covington Trust4.9%
  6. Other 167 positions58.1%

Biggest buys

New and added positions, by estimated amount bought

  1. Fidelity Covington Trust31609A503
    +$21.7MNew
  2. American Centy ETF Tr025072174
    +$3.90MAdded
  3. WisdomTree Tr97717X669
    +$2.48MAdded
  4. Schwab US Dividend Equity ETF808524797
    +$2.25MAdded
  5. iShares Core S&P US Value ETF464287663
    +$1.31MAdded

Largest weight increases

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

  1. Fidelity Covington Trust31609A503
    +4.88 pp0.0% → 4.9%
  2. LRCXLam Research Corp
    +0.27 pp0.0% → 0.3%History
  3. Schwab US Dividend Equity ETF808524797
    +0.17 pp2.1% → 2.3%
  4. Capital Group Core Balanced14021D107
    +0.17 pp0.1% → 0.3%
  5. CIFRCipher Digital Inc.
    +0.17 pp0.3% → 0.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Invesco Exchange Traded FD T46137V472
    −$986.6KReduced
  2. XOMExxonMobil Holdings Corp
    −$858.4KSold outHistory
  3. APLSApellis Pharmaceuticals, Inc.
    −$684.1KSold outHistory
  4. NOWServiceNow, Inc.
    −$656.1KSold outHistory
  5. FTNTFortinet, Inc.
    −$654.4KReducedHistory

Largest weight decreases

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

  1. Invesco Exchange Traded FD T46137V472
    −0.36 pp1.2% → 0.9%
  2. Vanguard S&P 500 ETF922908363
    −0.30 pp2.7% → 2.4%
  3. AZOAutoZone Inc
    −0.27 pp1.1% → 0.9%History
  4. XOMExxonMobil Holdings Corp
    −0.24 pp0.2% → 0.0%History
  5. APLSApellis Pharmaceuticals, Inc.
    −0.19 pp0.2% → 0.0%History

Metrics

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

Portfolio value
$443.6M
+$82.9M (+23.0%) vs. prior quarter
Positions
172
+18 vs. prior quarter
Top 10 concentration
57.0%
Top 10 as share of value
Turnover
1.9%
Q2 2026, one quarter
Average holding period
7.7 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 (Q1 2024), so positions held before then are understated.

13F filings by quarter

10 quarters, going back to Q1 2024. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $443.6M (Q2 2026)

Q1 2024: $111.0MQ2 2024: $118.6MQ3 2024: $181.5MQ4 2024: $254.0MQ1 2025: $276.8MQ2 2025: $316.8MQ3 2025: $355.4MQ4 2025: $402.5MQ1 2026: $360.7MQ2 2026: $443.6M
Q1 2024Q2 2026
13F filings of Duncan Williams Asset Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 22, 2026172$443.6MVanguard Morningstar Growth ETFWisdomTree TriShares Core S&P US Value ETFvs. Q1 2026SEC
Q1 2026May 5, 2026154$360.7MWisdomTree TrVanguard Morningstar Growth ETFiShares Core S&P US Value ETFvs. Q4 2025SEC
Q4 2025Feb 5, 2026170$402.5MWisdomTree TrVanguard Morningstar Growth ETFiShares Core S&P US Value ETFvs. Q3 2025SEC
Q3 2025Nov 12, 2025164$355.4MVanguard Morningstar Growth ETFWisdomTree TriShares Core S&P US Value ETFvs. Q2 2025SEC
Q2 2025Jul 22, 2025Amended154$316.8MVanguard Morningstar Growth ETFWisdomTree TrSchwab US Dividend Equity ETFvs. Q1 2025SEC
Q1 2025Apr 21, 2025147$276.8MVanguard Morningstar Growth ETFWisdomTree TrSchwab US Dividend Equity ETFvs. Q4 2024SEC
Q4 2024Jan 21, 2025146$254.0MVanguard Morningstar Growth ETFSchwab US Dividend Equity ETFAAPLvs. Q3 2024SEC
Q3 2024Oct 3, 2024129$181.5MVanguard Morningstar Growth ETFSchwab US Dividend Equity ETFWisdomTree Trvs. Q2 2024SEC
Q2 2024Jul 11, 202463$118.6MVanguard Morningstar Growth ETFSchwab US Dividend Equity ETFWisdomTree Trvs. Q1 2024SEC
Q1 2024Apr 3, 202468$111.0MVanguard Morningstar Growth ETFSchwab US Dividend Equity ETFWisdomTree Tr–SEC