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Livermore
Livermore
ZHEN

Valmark Advisers, Inc.

SEC CIK
0001380443
Latest filing
Aug 6, 2026

The latest 13F from Valmark Advisers, Inc. covers Q2 2026 (filed Aug 6, 2026): 726 long positions worth $9.42B. The top 10 holdings make up 46.1% of the portfolio, and the largest is Vanguard Ftse Developed Markets ETF at 9.2%. 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
66
Est. +$21.6M
Added
352
Est. +$402.0M
Reduced
233
Est. −$183.3M
Sold out
15
Est. −$5.30M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Ftse Developed Markets ETF921943858
    9.2%$864.0M
  2. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    6.0%$563.8M
  3. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    6.0%$563.0M
  4. State Street SPDR Portfolio S&P 400 Mid Cap ETF78464A847
    5.1%$479.6M
  5. Vanguard Malvern FDS922020805
    3.9%$369.1M

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio Short Term Corporate Bond ETF78464A474
    +$50.6MAdded
  2. Vanguard Scottsdale FDS92206C706
    +$25.3MAdded
  3. iShares Broad Usd Investment Grade Corporate Bond ETF464288620
    +$20.0MAdded
  4. Flexshares Tr33939L407
    +$16.2MAdded
  5. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +$16.1MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio Short Term Corporate Bond ETF78464A474
    +0.18 pp3.3% → 3.4%
  2. iShares Core S&P 500 ETF464287200
    +0.11 pp0.5% → 0.6%
  3. Capital Group GBL Growth EQT14020X104
    +0.09 pp0.3% → 0.4%
  4. SPDR Series Trust78464A805
    +0.09 pp2.8% → 2.9%
  5. Capital Group Equity ETF Tr14022A102
    +0.09 pp0.1% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Inc46434G764
    −$26.5MReduced
  2. SPDR Series Trust78468R200
    −$21.6MReduced
  3. State Street SPDR Portfolio S&P 600 Small Cap ETF78468R853
    −$17.9MReduced
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    −$17.4MReduced
  5. JPMorgan Ultra-Short Income ETF46641Q837
    −$12.3MReduced

Largest weight decreases

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

  1. SPDR Series Trust78468R200
    −0.27 pp0.4% → 0.1%
  2. JPMorgan Ultra-Short Income ETF46641Q837
    −0.19 pp0.5% → 0.4%
  3. Schwab US Dividend Equity ETF808524797
    −0.09 pp1.0% → 0.9%
  4. Vanguard Ftse Developed Markets ETF921943858
    −0.08 pp9.3% → 9.2%
  5. State Street Health Care Select Sector SPDR ETF81369Y209
    −0.05 pp0.2% → 0.2%

Metrics

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

Portfolio value
$9.42B
+$1.01B (+11.9%) vs. prior quarter
Positions
726
+51 vs. prior quarter
Top 10 concentration
46.1%
Top 10 as share of value
Turnover
2.1%
Q2 2026, one quarter
Average holding period
19.9 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 $9.42B (Q2 2026)

Q1 2021: $5.18BQ2 2021: $5.45BQ3 2021: $5.46BQ4 2021: $5.80BQ1 2022: $5.68BQ2 2022: $5.15BQ3 2022: $4.97BQ4 2022: $4.33BQ1 2023: $4.64BQ2 2023: $4.91BQ3 2023: $4.82BQ4 2023: $5.34BQ1 2024: $5.74BQ2 2024: $5.89BQ3 2024: $6.39BQ4 2024: $6.45BQ1 2025: $6.63BQ2 2025: $7.18BQ3 2025: $7.73BQ4 2025: $8.11BQ1 2026: $8.42BQ2 2026: $9.42B
Q1 2021Q2 2026
13F filings of Valmark Advisers, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 2026726$9.42BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2026SEC
Q1 2026May 1, 2026675$8.42BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q4 2025SEC
Q4 2025Jan 26, 2026655$8.11BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2025SEC
Q3 2025Oct 24, 2025645$7.73BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q2 2025SEC
Q2 2025Jul 23, 2025639$7.18BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2025SEC
Q1 2025Apr 23, 2025601$6.63BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q4 2024SEC
Q4 2024Jan 30, 2025590$6.45BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2024SEC
Q3 2024Oct 25, 2024581$6.39BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q2 2024SEC
Q2 2024Aug 1, 2024557$5.89BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2024SEC
Q1 2024May 6, 2024535$5.74BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q4 2023SEC
Q4 2023Feb 2, 2024494$5.34BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q3 2023SEC
Q3 2023Nov 8, 2023468$4.82BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q2 2023SEC
Q2 2023Aug 3, 2023469$4.91BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q1 2023SEC
Q1 2023May 2, 2023473$4.64BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q4 2022SEC
Q4 2022Feb 7, 2023444$4.33BVanguard Ftse Developed Markets ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q3 2022SEC
Q3 2022Nov 3, 2022411$4.97BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q2 2022SEC
Q2 2022Aug 1, 2022406$5.15BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2022SEC
Q1 2022May 10, 2022424$5.68BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q4 2021SEC
Q4 2021Feb 2, 2022403$5.80BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2021SEC
Q3 2021Nov 9, 2021386$5.46BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q2 2021SEC
Q2 2021Aug 6, 2021383$5.45BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2021SEC
Q1 2021May 4, 2021370$5.18BVanguard Ftse Developed Markets ETFVanguard S&P 500 ETFState Street SPDR Portfolio S&P 400 Mid Cap ETF–SEC