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Livermore
Livermore
ZHEN

SCS Capital Management LLC

SEC CIK
0001303159
Latest filing
Aug 6, 2026

The latest 13F from SCS Capital Management LLC covers Q2 2026 (filed Aug 6, 2026): 485 long positions worth $10.6B. The top 10 holdings make up 52.7% of the portfolio, and the largest is Vanguard Scottsdale FDS at 11.1%. Livermore has 26 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
43
Est. +$94.5M
Added
138
Est. +$425.5M
Reduced
207
Est. −$279.4M
Sold out
26
Est. −$30.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Scottsdale FDS92206C706
    11.1%$1.18B
  2. Vanguard Morningstar Total Stock Market ETF922908769
    9.0%$950.4M
  3. iShares Tr464287689
    7.5%$792.5M
  4. Vanguard Ftse Developed Markets ETF921943858
    6.1%$648.9M
  5. SPYSPDR S&P 500 ETF Trust
    4.9%$518.7MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +$94.6MAdded
  2. MSFTMicrosoft Corp
    +$68.4MAddedHistory
  3. LPLALPL Financial Holdings Inc.
    +$55.9MAddedHistory
  4. Vanguard Scottsdale FDS92206C706
    +$44.8MAdded
  5. PTCPTC Inc.
    +$37.9MNewHistory

Largest weight increases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +0.87 pp0.2% → 1.1%
  2. MSFTMicrosoft Corp
    +0.60 pp0.4% → 1.0%History
  3. LPLALPL Financial Holdings Inc.
    +0.52 pp<0.1% → 0.6%History
  4. PTCPTC Inc.
    +0.36 pp0.0% → 0.4%History
  5. ETEnergy Transfer LP
    +0.33 pp<0.1% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares MSCI USA Quality Factor ETF46432F339
    −$53.6MReduced
  2. Vanguard Whitehall FDS921946810
    −$17.7MReduced
  3. Vanguard Ftse Developed Markets ETF921943858
    −$14.0MReduced
  4. Vanguard Morningstar Total Stock Market ETF922908769
    −$12.9MReduced
  5. JNJJohnson & Johnson
    −$11.7MReducedHistory

Largest weight decreases

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

  1. iShares MSCI USA Quality Factor ETF46432F339
    −0.47 pp1.6% → 1.1%
  2. Vanguard Instl Index FD922040845
    −0.21 pp1.2% → 1.0%
  3. Vanguard Whitehall FDS921946810
    −0.20 pp0.6% → 0.4%
  4. ALNYAlnylam Pharmaceuticals, Inc.
    −0.20 pp0.5% → 0.3%History
  5. Vanguard Ftse Developed Markets ETF921943858
    −0.19 pp6.3% → 6.1%

Metrics

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

Portfolio value
$10.6B
+$1.15B (+12.1%) vs. prior quarter
Positions
485
+17 vs. prior quarter
Top 10 concentration
52.7%
Top 10 as share of value
Turnover
3.1%
Q2 2026, one quarter
Average holding period
15.1 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 (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 $10.6B (Q2 2026)

Q1 2021: $5.28BQ2 2021: $5.30BQ3 2021: $4.69BQ4 2021: $4.56BQ1 2022: $4.36BQ2 2022: $3.62BQ3 2022: $3.39BQ4 2022: $3.40BQ1 2023: $3.40BQ2 2023: $4.07BQ3 2023: $3.75BQ4 2023: $4.38BQ1 2024: $4.70BQ2 2024: $4.77BQ3 2024: $4.96BQ4 2024: $4.85BQ1 2025: $7.86BQ2 2025: $9.02BQ3 2025: $9.18BQ4 2025: $9.44BQ1 2026: $9.44BQ2 2026: $10.6B
Q1 2021Q2 2026
13F filings of SCS Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 2026485$10.6BVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFiShares Trvs. Q1 2026SEC
Q1 2026May 11, 2026468$9.44BVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFiShares Trvs. Q4 2025SEC
Q4 2025Feb 10, 2026493$9.44BVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFiShares Trvs. Q3 2025SEC
Q3 2025Nov 13, 2025511$9.18BVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFiShares Trvs. Q2 2025SEC
Q2 2025Aug 13, 2025549$9.02BVanguard Morningstar Total Stock Market ETFiShares TrVanguard Scottsdale FDSvs. Q1 2025SEC
Q1 2025May 19, 2025Amended513$7.86BVanguard Morningstar Total Stock Market ETFVanguard Scottsdale FDSiShares Trvs. Q4 2024SEC
Q4 2024Feb 14, 202569$4.85BVanguard Morningstar Total Stock Market ETFVanguard Scottsdale FDSiShares Trvs. Q3 2024SEC
Q3 2024Nov 14, 202468$4.96BiShares TrVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFvs. Q2 2024SEC
Q2 2024Oct 1, 202467$4.77BiShares TrVanguard Morningstar Total Stock Market ETFVanguard Scottsdale FDSvs. Q1 2024SEC
Q1 2024Aug 13, 2024Amended71$4.70BiShares TrVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFvs. Q4 2023SEC
Q4 2023Aug 13, 2024Amended66$4.38BiShares TrVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFvs. Q3 2023SEC
Q3 2023Nov 13, 202359$3.75BiShares TrVanguard Scottsdale FDSVanguard Morningstar Total Stock Market ETFvs. Q2 2023SEC
Q2 2023Aug 14, 202358$4.07BiShares TrVanguard Morningstar Total Stock Market ETFVanguard Scottsdale FDSvs. Q1 2023SEC
Q1 2023Aug 14, 2023Amended58$3.40BiShares TrVanguard Morningstar Total Stock Market ETFiShares U.S. Treasury Bond ETFvs. Q4 2022SEC
Q4 2022Feb 14, 202363$3.40BiShares TrVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFvs. Q3 2022SEC
Q3 2022Nov 14, 202258$3.39BiShares TriShares U.S. Treasury Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2022SEC
Q2 2022Aug 16, 202258$3.62BiShares TriShares U.S. Treasury Bond ETFVanguard Morningstar Value ETFvs. Q1 2022SEC
Q1 2022May 16, 202254$4.36BiShares TrVanguard Mun BD FDSVanguard Morningstar Total Stock Market ETFvs. Q4 2021SEC
Q4 2021Feb 14, 202249$4.56BiShares TrVanguard Morningstar Total Stock Market ETFVanguard Mun BD FDSvs. Q3 2021SEC
Q3 2021Nov 12, 202150$4.69BiShares TrVanguard Mun BD FDSiShares Trvs. Q2 2021SEC
Q2 2021Aug 13, 202148$5.30BiShares TrVanguard Mun BD FDSVanguard Morningstar Total Stock Market ETFvs. Q1 2021SEC
Q1 2021May 12, 202142$5.28BiShares TrVanguard Mun BD FDSiShares Tr–SEC