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Livermore
Livermore
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Phillips Financial Management, LLC

SEC CIK
0001350660
Latest filing
Aug 3, 2026

The latest 13F from Phillips Financial Management, LLC covers Q2 2026 (filed Aug 3, 2026): 291 long positions worth $1.36B. The top 10 holdings make up 51.5% of the portfolio, and the largest is iShares Core S&P 500 ETF at 11.1%. Livermore has 22 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
26
Est. +$5.84M
Added
36
Est. +$6.86M
Reduced
146
Est. −$141.3M
Sold out
18
Est. −$3.08M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    11.1%$151.3M
  2. Dimensional ETF Trust25434V872
    8.0%$109.7M
  3. Dimensional ETF Trust25434V799
    6.7%$91.8M
  4. Dimensional ETF Trust25434V864
    6.1%$83.9M
  5. Dimensional ETF Trust25434V666
    4.0%$53.9M

Biggest buys

New and added positions, by estimated amount bought

  1. Dimensional ETF Trust25434V872
    +$3.07MAdded
  2. Dimensional ETF Trust25434V864
    +$2.03MAdded
  3. Schwab US Tips ETF808524870
    +$686.9KAdded
  4. KLACKLA Corp
    +$469.8KNewHistory
  5. AMATApplied Materials Inc
    +$433.8KNewHistory

Largest weight increases

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

  1. Dimensional ETF Trust25434V872
    +0.31 pp7.7% → 8.0%
  2. Dimensional ETF Trust25434V864
    +0.20 pp6.0% → 6.1%
  3. JPMJPMorgan Chase & Co
    +0.09 pp0.6% → 0.7%History
  4. MUMicron Technology Inc
    +0.06 pp<0.1% → 0.1%History
  5. Schwab US Tips ETF808524870
    +0.05 pp0.2% → 0.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$15.2MReduced
  2. Dimensional Ultrashort Fixed Income ETF25434V591
    −$7.79MReduced
  3. iShares Core MSCI Total International Stock ETF46432F834
    −$7.74MReduced
  4. iShares Core S&P Mid-Cap ETF464287507
    −$7.44MReduced
  5. Vanguard S&P 500 ETF922908363
    −$6.34MReduced

Largest weight decreases

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

  1. Dimensional Ultrashort Fixed Income ETF25434V591
    −0.55 pp1.9% → 1.3%
  2. iShares Core U.S. Aggregate Bond ETF464287226
    −0.45 pp1.3% → 0.9%
  3. iShares Core MSCI Total International Stock ETF46432F834
    −0.34 pp2.0% → 1.7%
  4. iShares Tr46435G672
    −0.17 pp0.6% → 0.4%
  5. iShares Tr46434V282
    −0.15 pp1.4% → 1.2%

Metrics

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

Portfolio value
$1.36B
−$14.6M (−1.1%) vs. prior quarter
Positions
291
+8 vs. prior quarter
Top 10 concentration
51.5%
Top 10 as share of value
Turnover
0.9%
Q2 2026, one quarter
Average holding period
18.9 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 $1.55B (Q4 2025)

Q1 2021: $813.2MQ2 2021: $970.3MQ3 2021: $966.0MQ4 2021: $1.02BQ1 2022: $1.06BQ2 2022: $922.6MQ3 2022: $907.3MQ4 2022: $983.0MQ1 2023: $1.04BQ2 2023: $1.08BQ3 2023: $1.05BQ4 2023: $1.15BQ1 2024: $1.22BQ2 2024: $1.21BQ3 2024: $1.29BQ4 2024: $1.27BQ1 2025: $1.29BQ2 2025: $1.38BQ3 2025: $1.52BQ4 2025: $1.55BQ1 2026: $1.38BQ2 2026: $1.36B
Q1 2021Q2 2026
13F filings of Phillips Financial Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 3, 2026291$1.36BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q1 2026SEC
Q1 2026Apr 16, 2026283$1.38BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q4 2025SEC
Q4 2025Jan 26, 2026307$1.55BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q3 2025SEC
Q3 2025Oct 24, 2025305$1.52BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q2 2025SEC
Q2 2025Jul 30, 2025279$1.38BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q1 2025SEC
Q1 2025Apr 30, 2025258$1.29BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q4 2024SEC
Q4 2024Feb 10, 2025259$1.27BiShares Core S&P 500 ETFDimensional ETF TrustDimensional ETF Trustvs. Q3 2024SEC
Q3 2024Nov 7, 2024276$1.29BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q2 2024SEC
Q2 2024Aug 8, 2024271$1.21BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q1 2024SEC
Q1 2024Apr 23, 2024263$1.22BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q4 2023SEC
Q4 2023Jan 25, 2024252$1.15BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q3 2023SEC
Q3 2023Nov 9, 2023238$1.05BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q2 2023SEC
Q2 2023Aug 11, 2023236$1.08BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q1 2023SEC
Q1 2023May 8, 2023236$1.04BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q4 2022SEC
Q4 2022Jan 24, 2023225$983.0MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core MSCI Total International Stock ETFvs. Q3 2022SEC
Q3 2022Nov 8, 2022223$907.3MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares S&P 500 Value ETFvs. Q2 2022SEC
Q2 2022Jul 22, 2022104$922.6MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares S&P 500 Value ETFvs. Q1 2022SEC
Q1 2022May 6, 2022139$1.06BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Trvs. Q4 2021SEC
Q4 2021Feb 7, 202290$1.02BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2021SEC
Q3 2021Nov 9, 202190$966.0MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2021SEC
Q2 2021Aug 10, 202189$970.3MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2021SEC
Q1 2021May 17, 202185$813.2MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core U.S. Aggregate Bond ETF–SEC