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Livermore
Livermore
ZHEN

Avantax Advisory Services, Inc.

SEC CIK
0001303042
Latest filing
Aug 8, 2025

The latest 13F from Avantax Advisory Services, Inc. covers Q2 2025 (filed Aug 8, 2025): 2,359 long positions worth $18.2B. The top 10 holdings make up 34.0% of the portfolio, and the largest is iShares Core S&P 500 ETF at 6.3%. Livermore has 18 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2025

Share counts compared with Q1 2025: 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
228
Est. +$97.5M
Added
1269
Est. +$889.1M
Reduced
821
Est. −$431.8M
Sold out
96
Est. −$45.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    6.3%$1.14B
  2. Vanguard Scottsdale FDS92206C680
    6.1%$1.11B
  3. iShares Core U.S. Aggregate Bond ETF464287226
    5.1%$919.1M
  4. Schwab US Dividend Equity ETF808524797
    4.1%$753.6M
  5. Vanguard Morningstar Value ETF922908744
    3.2%$583.4M

Share of portfolio

Top 5 holdings and the other 2,354 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF6.3%
  2. Vanguard Scottsdale FDS6.1%
  3. iShares Core U.S. Aggregate Bond ETF5.1%
  4. Schwab US Dividend Equity ETF4.1%
  5. Vanguard Morningstar Value ETF3.2%
  6. Other 2,354 positions75.2%

Biggest buys

New and added positions, by estimated amount bought

  1. J P Morgan Exchange Traded F46641Q647
    +$42.8MAdded
  2. Dimensional Emerging Core Equity Market ETF25434V302
    +$23.4MAdded
  3. Schwab US Dividend Equity ETF808524797
    +$21.1MAdded
  4. NVDANVIDIA Corp
    +$15.8MAddedHistory
  5. JPMorgan Ultra-Short Income ETF46641Q837
    +$15.7MAdded

Largest weight increases

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

  1. NVDANVIDIA Corp
    +0.46 pp1.2% → 1.6%History
  2. MSFTMicrosoft Corp
    +0.31 pp1.1% → 1.4%History
  3. J P Morgan Exchange Traded F46641Q647
    +0.23 pp<0.1% → 0.2%
  4. AVGOBroadcom Inc.
    +0.17 pp0.3% → 0.4%History
  5. Invesco QQQ Trust Series I46090E103
    +0.15 pp1.3% → 1.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Pacer US Cash Cows 100 ETF69374H881
    −$32.6MReduced
  2. Vanguard Scottsdale FDS92206C680
    −$27.8MReduced
  3. First Tr Exch Traded FD III33739N108
    −$24.5MReduced
  4. iShares Core S&P 500 ETF464287200
    −$15.1MReduced
  5. iShares Tr464288414
    −$14.3MReduced

Largest weight decreases

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

  1. AAPLApple Inc.
    −0.29 pp1.7% → 1.4%History
  2. Vanguard Morningstar Value ETF922908744
    −0.26 pp3.5% → 3.2%
  3. Pacer US Cash Cows 100 ETF69374H881
    −0.25 pp0.8% → 0.6%
  4. First Tr Exch Traded FD III33739N108
    −0.15 pp0.2% → <0.1%
  5. iShares Tr464288414
    −0.15 pp0.7% → 0.5%

Metrics

13F metrics for Q2 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$18.2B
+$1.72B (+10.4%) vs. prior quarter
Positions
2,359
+132 vs. prior quarter
Top 10 concentration
34.0%
Top 10 as share of value
Turnover
2.7%
Q2 2025, one quarter
Average holding period
16.0 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 (Q1 2021), so positions held before then are understated.

13F filings by quarter

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

Peak $18.2B (Q2 2025)

Q1 2021: $4.66BQ2 2021: $5.51BQ3 2021: $6.00BQ4 2021: $6.64BQ1 2022: $7.28BQ2 2022: $6.63BQ3 2022: $6.51BQ4 2022: $7.50BQ1 2023: $8.16BQ2 2023: $8.75BQ3 2023: $8.93BQ4 2023: $10.1BQ1 2024: $11.3BQ2 2024: $14.0BQ3 2024: $15.2BQ4 2024: $15.9BQ1 2025: $16.5BQ2 2025: $18.2B
Q1 2021Q2 2025
13F filings of Avantax Advisory Services, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Aug 8, 20252,359$18.2BiShares Core S&P 500 ETFVanguard Scottsdale FDSiShares Core U.S. Aggregate Bond ETFvs. Q1 2025SEC
Q1 2025May 6, 20252,227$16.5BiShares Core S&P 500 ETFVanguard Scottsdale FDSiShares Core U.S. Aggregate Bond ETFvs. Q4 2024SEC
Q4 2024Feb 10, 20252,179$15.9BVanguard Scottsdale FDSiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2024SEC
Q3 2024Nov 13, 20242,119$15.2BiShares Core S&P 500 ETFVanguard Scottsdale FDSiShares Core U.S. Aggregate Bond ETFvs. Q2 2024SEC
Q2 2024Aug 9, 20242,071$14.0BVanguard Scottsdale FDSiShares Core S&P 500 ETFSchwab US Dividend Equity ETFvs. Q1 2024SEC
Q1 2024May 8, 20241,639$11.3BVanguard Scottsdale FDSiShares Core S&P 500 ETFSchwab US Dividend Equity ETFvs. Q4 2023SEC
Q4 2023Feb 7, 20241,570$10.1BVanguard Scottsdale FDSiShares Core S&P 500 ETFSchwab US Dividend Equity ETFvs. Q3 2023SEC
Q3 2023Nov 8, 20231,544$8.93BVanguard Scottsdale FDSiShares Core S&P 500 ETFSchwab US Dividend Equity ETFvs. Q2 2023SEC
Q2 2023Aug 11, 20231,505$8.75BiShares Core S&P 500 ETFSchwab US Dividend Equity ETFJPMorgan Ultra-Short Income ETFvs. Q1 2023SEC
Q1 2023Apr 28, 20231,484$8.16BiShares Core S&P 500 ETFSchwab US Dividend Equity ETFJPMorgan Ultra-Short Income ETFvs. Q4 2022SEC
Q4 2022Feb 13, 20231,415$7.50BiShares Core S&P 500 ETFSchwab US Dividend Equity ETFJPMorgan Ultra-Short Income ETFvs. Q3 2022SEC
Q3 2022Nov 2, 20221,328$6.51BiShares Core S&P 500 ETFJPMorgan Ultra-Short Income ETFVanguard Short-Term Bond ETFvs. Q2 2022SEC
Q2 2022Aug 2, 20221,298$6.63BiShares Core S&P 500 ETFJPMorgan Ultra-Short Income ETFVanguard Short-Term Bond ETFvs. Q1 2022SEC
Q1 2022Apr 27, 20221,277$7.28BiShares Core S&P 500 ETFJPMorgan Ultra-Short Income ETFVanguard Short-Term Bond ETFvs. Q4 2021SEC
Q4 2021Jan 24, 20221,243$6.64BiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFSchwab US Dividend Equity ETFvs. Q3 2021SEC
Q3 2021Oct 21, 20211,175$6.00BiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFFirst Tr Exchange-Traded FDvs. Q2 2021SEC
Q2 2021Jul 29, 20211,136$5.51BiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFFirst Tr Exchange-Traded FDvs. Q1 2021SEC
Q1 2021May 13, 20211,028$4.66BiShares Core S&P 500 ETFFirst Tr Exchange-Traded FDiShares Core U.S. Aggregate Bond ETF–SEC