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Livermore
Livermore
ZHEN

Stephen J. Garry & Associates, LLC

SEC CIK
0002056402
Latest filing
Jul 24, 2026

The latest 13F from Stephen J. Garry & Associates, LLC covers Q2 2026 (filed Jul 24, 2026): 55 long positions worth $137.1M. The top 10 holdings make up 71.0% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 18.8%. 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
4
Est. +$1.28M
Added
12
Est. +$2.09M
Reduced
23
Est. −$2.67M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    18.8%$25.8M
  2. IAUiShares Gold Trust
    8.8%$12.1MHistory
  3. Vanguard Total Bond Market ETF921937835
    7.8%$10.7M
  4. Vanguard S&P 500 ETF922908363
    7.8%$10.7M
  5. Vanguard Intermediate-Term Bond ETF921937819
    6.3%$8.62M

Share of portfolio

Top 5 holdings and the other 50 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF18.8%
  2. IAU8.8%
  3. Vanguard Total Bond Market ETF7.8%
  4. Vanguard S&P 500 ETF7.8%
  5. Vanguard Intermediate-Term Bond ETF6.3%
  6. Other 50 positions50.5%

Biggest buys

New and added positions, by estimated amount bought

  1. Tema ETF Trust87975E776
    +$655.7KNew
  2. Vanguard Total Bond Market ETF921937835
    +$472.1KAdded
  3. Vanguard Intermediate-Term Bond ETF921937819
    +$408.1KAdded
  4. State Street SPDR S&P Biotech ETF78464A870
    +$390.9KAdded
  5. State Street Industrial Select Sector SPDR ETF81369Y704
    +$376.9KAdded

Largest weight increases

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

  1. Tema ETF Trust87975E776
    +0.48 pp0.0% → 0.5%
  2. iShares Russell 2000 Growth ETF464287648
    +0.38 pp2.6% → 3.0%
  3. State Street SPDR S&P Biotech ETF78464A870
    +0.37 pp0.7% → 1.1%
  4. State Street Industrial Select Sector SPDR ETF81369Y704
    +0.34 pp1.6% → 1.9%
  5. Vanguard Admiral FDS Inc921932869
    +0.23 pp3.7% → 4.0%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Growth ETF922908736
    −$993.3KReducedConverted for a 6-for-1 split
  2. iShares Core S&P 500 ETF464287200
    −$319.0KReduced
  3. BRK.BBerkshire Hathaway Inc
    −$262.7KReducedHistory
  4. Vanguard S&P 500 ETF922908363
    −$259.6KReduced
  5. SPYSPDR S&P 500 ETF Trust
    −$193.4KReducedHistory

Largest weight decreases

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

  1. SLViShares Silver Trust
    −0.29 pp0.9% → 0.6%History
  2. BRK.BBerkshire Hathaway Inc
    −0.23 pp0.8% → 0.6%History
  3. Vanguard Scottsdale FDS92206C409
    −0.22 pp1.7% → 1.5%
  4. iShares Tr464288414
    −0.11 pp1.1% → 1.0%
  5. Vanguard Mun BD FDS922907738
    −0.10 pp0.8% → 0.7%

Metrics

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

Portfolio value
$137.1M
+$12.7M (+10.2%) vs. prior quarter
Positions
55
+4 vs. prior quarter
Top 10 concentration
71.0%
Top 10 as share of value
Turnover
2.0%
Q2 2026, one quarter
Average holding period
10.1 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 $137.1M (Q2 2026)

Q4 2023: $90.3MQ1 2024: $96.6MQ2 2024: $98.8MQ3 2024: $105.2MQ4 2024: $108.3MQ1 2025: $106.9MQ2 2025: $115.7MQ3 2025: $125.2MQ4 2025: $126.1MQ1 2026: $124.3MQ2 2026: $137.1M
Q4 2023Q2 2026
13F filings of Stephen J. Garry & Associates, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 202655$137.1MVanguard Morningstar Growth ETFIAUVanguard Total Bond Market ETFvs. Q1 2026SEC
Q1 2026Apr 16, 202651$124.3MVanguard Morningstar Growth ETFIAUVanguard Total Bond Market ETFvs. Q4 2025SEC
Q4 2025Jan 16, 202651$126.1MVanguard Morningstar Growth ETFIAUVanguard S&P 500 ETFvs. Q3 2025SEC
Q3 2025Nov 12, 202551$125.2MVanguard Morningstar Growth ETFIAUVanguard S&P 500 ETFvs. Q2 2025SEC
Q2 2025Jul 23, 202547$115.7MVanguard Morningstar Growth ETFIAUVanguard S&P 500 ETFvs. Q1 2025SEC
Q1 2025May 13, 202543$106.9MVanguard Morningstar Growth ETFVanguard Total Bond Market ETFIAUvs. Q4 2024SEC
Q4 2024Feb 13, 202544$108.3MVanguard Morningstar Growth ETFVanguard Total Bond Market ETFVanguard S&P 500 ETFvs. Q3 2024SEC
Q3 2024Feb 13, 202540$105.2MVanguard Morningstar Growth ETFVanguard S&P 500 ETFIAUvs. Q2 2024SEC
Q2 2024Feb 13, 202540$98.8MVanguard Morningstar Growth ETFiShares TrVanguard S&P 500 ETFvs. Q1 2024SEC
Q1 2024Feb 13, 202541$96.6MVanguard Morningstar Growth ETFiShares TrVanguard S&P 500 ETFvs. Q4 2023SEC
Q4 2023Feb 14, 202539$90.3MVanguard Morningstar Growth ETFiShares TrVanguard Morningstar Value ETF–SEC