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Livermore
Livermore
ZHEN

Independent Financial Group, LLC

SEC CIK
0000275484
Latest filing
Jul 15, 2026

The latest 13F from Independent Financial Group, LLC covers Q2 2026 (filed Jul 15, 2026): 1,546 long positions worth $5.35B. The top 10 holdings make up 23.7% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 6.4%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

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
207
Est. +$154.2M
Added
669
Est. +$493.3M
Reduced
590
Est. −$358.6M
Sold out
108
Est. −$48.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    6.4%$342.6MHistory
  2. Invesco QQQ Trust Series I46090E103
    2.7%$143.1M
  3. AAPLApple Inc.
    2.6%$141.6MHistory
  4. MUMicron Technology Inc
    2.4%$128.2MHistory
  5. AVGOBroadcom Inc.
    2.2%$119.6MHistory

Share of portfolio

Top 5 holdings and the other 1,541 positions, by share of portfolio value

  1. NVDA6.4%
  2. Invesco QQQ Trust Series I2.7%
  3. AAPL2.6%
  4. MU2.4%
  5. AVGO2.2%
  6. Other 1,541 positions83.6%

Biggest buys

New and added positions, by estimated amount bought

  1. MUMicron Technology Inc
    +$29.8MAddedHistory
  2. iShares Core S&P 500 ETF464287200
    +$20.9MAdded
  3. SNDKSandisk Corp
    +$20.8MAddedHistory
  4. MRVLMarvell Technology, Inc.
    +$13.7MAddedHistory
  5. iShares Semiconductor ETF464287523
    +$12.6MAdded

Largest weight increases

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

  1. MUMicron Technology Inc
    +1.75 pp0.6% → 2.4%History
  2. SNDKSandisk Corp
    +0.57 pp0.1% → 0.7%History
  3. AMDAdvanced Micro Devices Inc
    +0.49 pp0.4% → 0.8%History
  4. iShares Semiconductor ETF464287523
    +0.38 pp0.2% → 0.6%
  5. iShares Core S&P 500 ETF464287200
    +0.33 pp1.4% → 1.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Pgim ETF Tr69344A834
    −$25.1MReduced
  2. Janus Detroit STR Tr47103U845
    −$15.6MReduced
  3. VanEck ETF Trust92189F411
    −$14.6MReduced
  4. PLTRPalantir Technologies Inc.
    −$13.0MReducedHistory
  5. Janus Detroit STR Tr47103U753
    −$11.7MReduced

Largest weight decreases

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

  1. Pgim ETF Tr69344A834
    −0.75 pp1.7% → 1.0%
  2. PLTRPalantir Technologies Inc.
    −0.57 pp1.0% → 0.4%History
  3. Janus Detroit STR Tr47103U845
    −0.39 pp0.6% → 0.2%
  4. VanEck ETF Trust92189F411
    −0.34 pp0.4% → <0.1%
  5. Vanguard Total Bond Market ETF921937835
    −0.30 pp0.6% → 0.3%

Metrics

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

Portfolio value
$5.35B
+$890.1M (+20.0%) vs. prior quarter
Positions
1,546
+99 vs. prior quarter
Top 10 concentration
23.7%
Top 10 as share of value
Turnover
8.3%
Q2 2026, one quarter
Average holding period
16.8 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 (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $5.35B (Q2 2026)

Q1 2021: $773.2MQ2 2021: $943.4MQ3 2021: $978.6MQ4 2021: $1.21BQ1 2022: $1.23BQ2 2022: $935.9MQ3 2022: $1.10BQ4 2022: $1.16BQ1 2023: $1.25BQ2 2023: $1.45BQ3 2023: $1.54BQ4 2023: $1.87BQ1 2024: $2.18BQ2 2024: $2.50BQ3 2024: $2.72BQ4 2024: $3.01BQ1 2025: $2.91BQ2 2025: $3.63BQ3 2025: $4.17BQ4 2025: $4.48BQ1 2026: $4.46BQ2 2026: $5.35B
Q1 2021Q2 2026
13F filings of Independent Financial Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 15, 20261,546$5.35BNVDAInvesco QQQ Trust Series IAAPLvs. Q1 2026SEC
Q1 2026May 15, 2026Amended1,447$4.46BNVDAAAPLInvesco QQQ Trust Series Ivs. Q4 2025SEC
Q4 2025May 15, 20261,405$4.48BNVDAAAPLInvesco QQQ Trust Series Ivs. Q3 2025SEC
Q3 2025May 15, 20261,356$4.17BNVDAAAPLAVGOvs. Q2 2025SEC
Q2 2025May 15, 20261,286$3.63BNVDAAAPLInvesco QQQ Trust Series Ivs. Q1 2025SEC
Q1 2025May 19, 20261,174$2.91BNVDAAAPLInvesco QQQ Trust Series Ivs. Q4 2024SEC
Q4 2024Jun 12, 20261,155$3.01BNVDAAAPLAVGOvs. Q3 2024SEC
Q3 2024Jun 12, 20261,126$2.72BNVDAAAPLAVGOvs. Q2 2024SEC
Q2 2024Jun 12, 20261,087$2.50BNVDAAAPLMSFTvs. Q1 2024SEC
Q1 2024Jun 12, 20261,016$2.18BNVDAAAPLMSFTvs. Q4 2023SEC
Q4 2023Jun 12, 2026950$1.87BNVDAAAPLMSFTvs. Q3 2023SEC
Q3 2023Jun 12, 2026898$1.54BNVDAAAPLMSFTvs. Q2 2023SEC
Q2 2023Jun 12, 2026876$1.45BAAPLNVDAMSFTvs. Q1 2023SEC
Q1 2023Jun 12, 2026836$1.25BAAPLNVDAMSFTvs. Q4 2022SEC
Q4 2022Jun 15, 2026779$1.16BiShares TrFirst Tr Exchange-Traded FDPgim ETF Trvs. Q3 2022SEC
Q3 2022Jun 15, 2026744$1.10BiShares TrFirst Tr Exchange-Traded FDAAPLvs. Q2 2022SEC
Q2 2022Jun 12, 2026710$935.9MAAPLMSFTNVDAvs. Q1 2022SEC
Q1 2022Jun 12, 2026778$1.23BAAPLNVDAFirst Trust Rising Dividend Achievers ETFvs. Q4 2021SEC
Q4 2021Jun 15, 2026772$1.21BAAPLNVDAFirst Trust Rising Dividend Achievers ETFvs. Q3 2021SEC
Q3 2021Jun 15, 2026704$978.6MAAPLFirst Trust Rising Dividend Achievers ETFAMZNvs. Q2 2021SEC
Q2 2021Jun 15, 2026700$943.4MAAPLAMZNFirst Trust Rising Dividend Achievers ETFvs. Q1 2021SEC
Q1 2021Jun 15, 2026635$773.2MAAPLAMZNMSFT–SEC