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Livermore
Livermore
ZHEN

Balanced Rock Investment Advisor

SEC CIK
0002011851
Latest filing
Aug 14, 2026

The latest 13F from Balanced Rock Investment Advisor covers Q2 2026 (filed Aug 14, 2026): 102 long positions worth $160.3M. The top 10 holdings make up 40.1% of the portfolio, and the largest is Dimensional ETF Trust at 6.2%. Livermore has 11 filings on Form 13F from this institution, going back to Q4 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
9
Est. +$4.71M
Added
43
Est. +$8.46M
Reduced
48
Est. −$7.56M
Sold out
3
Est. −$925.0K

Top 5 holdings

Share of this quarter's portfolio value

  1. Dimensional ETF Trust25434V690
    6.2%$9.95M
  2. Morgan Stanley ETF Trust61774R841
    5.4%$8.58M
  3. PIMCO Equity Ser72201T342
    4.6%$7.32M
  4. iShares Tr46436E767
    4.2%$6.76M
  5. Invesco S&P 500 Quality ETF46137V241
    3.8%$6.07M

Share of portfolio

Top 5 holdings and the other 97 positions, by share of portfolio value

  1. Dimensional ETF Trust6.2%
  2. Morgan Stanley ETF Trust5.4%
  3. PIMCO Equity Ser4.6%
  4. iShares Tr4.2%
  5. Invesco S&P 500 Quality ETF3.8%
  6. Other 97 positions75.9%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr464288307
    +$2.93MNew
  2. Vanguard Long-Term Treasury ETF92206C847
    +$2.82MAdded
  3. Morgan Stanley ETF Trust61774R841
    +$765.8KAdded
  4. PIMCO ETF Tr72201R304
    +$683.3KAdded
  5. AAPLApple Inc.
    +$590.3KAddedHistory

Largest weight increases

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

  1. iShares Tr464288307
    +1.83 pp0.0% → 1.8%
  2. Vanguard Long-Term Treasury ETF92206C847
    +1.60 pp1.3% → 2.9%
  3. AAPLApple Inc.
    +0.38 pp0.5% → 0.9%History
  4. PIMCO Equity Ser72201T342
    +0.21 pp4.4% → 4.6%
  5. VEEVVeeva Systems Inc
    +0.18 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Emerging Markets Government Bond ETF921946885
    −$1.79MReduced
  2. Vanguard Malvern FDS922020805
    −$1.10MReduced
  3. Schwab Strategic Tr808524862
    −$676.2KReduced
  4. VanEck ETF Trust92189F486
    −$484.5KSold out
  5. iShares Tr46436E767
    −$466.3KReduced

Largest weight decreases

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

  1. Vanguard Emerging Markets Government Bond ETF921946885
    −1.26 pp1.6% → 0.3%
  2. Vanguard Malvern FDS922020805
    −0.86 pp1.6% → 0.8%
  3. Schwab Strategic Tr808524862
    −0.56 pp1.2% → 0.6%
  4. VanEck ETF Trust92189F486
    −0.34 pp0.3% → 0.0%
  5. Vanguard Total Bond Market ETF921937835
    −0.33 pp0.8% → 0.5%

Metrics

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

Portfolio value
$160.3M
+$17.8M (+12.5%) vs. prior quarter
Positions
102
+6 vs. prior quarter
Top 10 concentration
40.1%
Top 10 as share of value
Turnover
5.6%
Q2 2026, one quarter
Average holding period
8.8 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 2023), so positions held before then are understated.

13F filings by quarter

11 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $160.3M (Q2 2026)

Q4 2023: $112.6MQ1 2024: $117.2MQ2 2024: $118.9MQ3 2024: $127.5MQ4 2024: $126.4MQ1 2025: $125.4MQ2 2025: $127.4MQ3 2025: $136.8MQ4 2025: $140.7MQ1 2026: $142.6MQ2 2026: $160.3M
Q4 2023Q2 2026
13F filings of Balanced Rock Investment Advisor by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026102$160.3MDimensional ETF TrustMorgan Stanley ETF TrustPIMCO Equity Servs. Q1 2026SEC
Q1 2026May 13, 202696$142.6MDimensional ETF TrustMorgan Stanley ETF TrustPIMCO Equity Servs. Q4 2025SEC
Q4 2025Feb 13, 202692$140.7MDimensional ETF TrustMorgan Stanley ETF TrustPIMCO Equity Servs. Q3 2025SEC
Q3 2025Nov 14, 202596$136.8MDimensional ETF TrustMorgan Stanley ETF TrustPIMCO Equity Servs. Q2 2025SEC
Q2 2025Aug 14, 202596$127.4MDimensional ETF TrustiShares TrMorgan Stanley ETF Trustvs. Q1 2025SEC
Q1 2025May 12, 202589$125.4MiShares TriShares TriShares Esg Aware US Aggregate Bond ETFvs. Q4 2024SEC
Q4 2024Feb 13, 202590$126.4MiShares TriShares TriShares Esg Aware US Aggregate Bond ETFvs. Q3 2024SEC
Q3 2024Nov 13, 202488$127.5MiShares TriShares TriShares Trvs. Q2 2024SEC
Q2 2024Jul 31, 202489$118.9MiShares TriShares TriShares Trvs. Q1 2024SEC
Q1 2024May 13, 202488$117.2MiShares TriShares TrVanguard Mun BD FDSvs. Q4 2023SEC
Q4 2023Feb 13, 202493$112.6MiShares TrVanguard Mun BD FDSiShares Tr–SEC