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Livermore
Livermore
ZHEN

Thayer Financial, L.L.C.

SEC CIK
0002100981
Latest filing
Jul 8, 2026

The latest 13F from Thayer Financial, L.L.C. covers Q2 2026 (filed Jul 8, 2026): 33 long positions worth $110.0M. The top 10 holdings make up 83.0% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 16.0%. Livermore has 3 filings on Form 13F from this institution, going back to Q4 2025.

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
0
Added
15
Est. +$2.99M
Reduced
13
Est. −$803.9K
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    16.0%$17.6M
  2. Vanguard Morningstar Value ETF922908744
    14.6%$16.1M
  3. Dimensional ETF Trust25434V203
    12.1%$13.3M
  4. Capital Grp Fixed Incm ETF T14020Y409
    10.8%$11.9M
  5. Capital Grp Fixed Incm ETF T14020Y300
    6.4%$7.07M

Share of portfolio

Top 5 holdings and the other 28 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF16.0%
  2. Vanguard Morningstar Value ETF14.6%
  3. Dimensional ETF Trust12.1%
  4. Capital Grp Fixed Incm ETF T10.8%
  5. Capital Grp Fixed Incm ETF T6.4%
  6. Other 28 positions40.0%

Biggest buys

New and added positions, by estimated amount bought

  1. Capital Grp Fixed Incm ETF T14020Y409
    +$587.8KAdded
  2. Dimensional ETF Trust25434V203
    +$436.3KAdded
  3. Vanguard Morningstar Value ETF922908744
    +$412.5KAdded
  4. Vanguard Morningstar Growth ETF922908736
    +$376.7KAddedConverted for a 6-for-1 split
  5. Invesco Actively Managed Exc46090A879
    +$312.9KAdded

Largest weight increases

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

  1. Vanguard Morningstar Growth ETF922908736
    +1.14 pp14.9% → 16.0%
  2. Vanguard Morningstar Small-Cap ETF922908751
    +0.30 pp5.2% → 5.5%
  3. Vanguard Morningstar Value ETF922908744
    +0.22 pp14.4% → 14.6%
  4. Dimensional ETF Trust25434V831
    +0.12 pp3.8% → 3.9%
  5. Vanguard S&P 500 ETF922908363
    +0.10 pp0.3% → 0.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AAPLApple Inc.
    −$222.7KReducedHistory
  2. Dimensional Emerging Core Equity Market ETF25434V302
    −$159.6KReduced
  3. GLWCorning Inc
    −$145.1KReducedHistory
  4. American Centy ETF Tr025072604
    −$95.3KReduced
  5. American Centy ETF Tr025072323
    −$54.7KReduced

Largest weight decreases

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

  1. AAPLApple Inc.
    −0.19 pp0.7% → 0.5%History
  2. DUKDuke Energy CORP
    −0.09 pp0.6% → 0.5%History
  3. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −0.08 pp1.7% → 1.6%
  4. American Centy ETF Tr025072604
    −0.06 pp0.5% → 0.4%
  5. American Centy ETF Tr025072323
    −0.02 pp0.6% → 0.6%

Metrics

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

Portfolio value
$110.0M
+$12.0M (+12.3%) vs. prior quarter
Positions
33
0 vs. prior quarter
Top 10 concentration
83.0%
Top 10 as share of value
Turnover
0.8%
Q2 2026, one quarter
Average holding period
3.0 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 (Q4 2025), so positions held before then are understated.

13F filings by quarter

3 quarters, going back to Q4 2025. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $110.0M (Q2 2026)

Q4 2025: $94.6MQ1 2026: $98.0MQ2 2026: $110.0M
Q4 2025Q2 2026
13F filings of Thayer Financial, L.L.C. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 8, 202633$110.0MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFDimensional ETF Trustvs. Q1 2026SEC
Q1 2026Apr 13, 202633$98.0MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFDimensional ETF Trustvs. Q4 2025SEC
Q4 2025Jan 12, 202633$94.6MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFDimensional ETF Trust–SEC