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Livermore
Livermore
ZHEN

Twin Focus Capital Partners, LLC

SEC CIK
0001387761
Latest filing
Jul 28, 2026

The latest 13F from Twin Focus Capital Partners, LLC covers Q2 2026 (filed Jul 28, 2026): 170 long positions worth $982.7M. The top 10 holdings make up 50.4% of the portfolio, and the largest is iShares Core MSCI Eafe ETF at 10.3%. 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
4
Est. +$3.23M
Added
45
Est. +$39.6M
Reduced
23
Est. −$47.8M
Sold out
6
Est. −$4.66M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core MSCI Eafe ETF46432F842
    10.3%$101.0M
  2. IAUiShares Gold Trust
    9.2%$90.3MHistory
  3. Vanguard Morningstar Total Stock Market ETF922908769
    8.3%$81.7M
  4. DELLDell Technologies Inc.
    5.7%$55.6MHistory
  5. SPYSPDR S&P 500 ETF Trust
    3.8%$37.0MHistory

Share of portfolio

Top 5 holdings and the other 165 positions, by share of portfolio value

  1. iShares Core MSCI Eafe ETF10.3%
  2. IAU9.2%
  3. Vanguard Morningstar Total Stock Market ETF8.3%
  4. DELL5.7%
  5. SPY3.8%
  6. Other 165 positions62.8%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Index FDS922908652
    +$19.9MAdded
  2. IAUiShares Gold Trust
    +$2.55MAddedHistory
  3. Harbor ETF Trust41151J505
    +$2.20MAdded
  4. Vanguard Morningstar Total Stock Market ETF922908769
    +$2.16MAdded
  5. iShares Tr46436E759
    +$1.61MNew

Largest weight increases

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

  1. Vanguard Index FDS922908652
    +2.05 pp0.5% → 2.5%
  2. Vanguard Morningstar Total Stock Market ETF922908769
    +0.39 pp7.9% → 8.3%
  3. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +0.33 pp2.5% → 2.8%
  4. iShares Semiconductor ETF464287523
    +0.23 pp0.3% → 0.5%
  5. SPYSPDR S&P 500 ETF Trust
    +0.19 pp3.6% → 3.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. DELLDell Technologies Inc.
    −$41.7MReducedHistory
  2. Profesionally Managed Portfo74316P579
    −$2.43MSold out
  3. GLWCorning Inc
    −$1.47MReducedHistory
  4. Global X FDS37954Y673
    −$863.8KReduced
  5. iShares S&P 500 Value ETF464287408
    −$728.4KReduced

Largest weight decreases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    −0.28 pp2.1% → 1.8%
  2. Profesionally Managed Portfo74316P579
    −0.28 pp0.3% → 0.0%
  3. iShares Tips Bond ETF464287176
    −0.18 pp1.5% → 1.3%
  4. Vanguard Energy ETF92204A306
    −0.16 pp0.7% → 0.5%
  5. iShares S&P 500 Value ETF464287408
    −0.10 pp0.6% → 0.5%

Metrics

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

Portfolio value
$982.7M
+$112.6M (+12.9%) vs. prior quarter
Positions
170
−2 vs. prior quarter
Top 10 concentration
50.4%
Top 10 as share of value
Turnover
4.6%
Q2 2026, one quarter
Average holding period
18.7 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 $982.7M (Q2 2026)

Q1 2021: $349.7MQ2 2021: $432.1MQ3 2021: $428.3MQ4 2021: $499.6MQ1 2022: $514.5MQ2 2022: $445.1MQ3 2022: $415.8MQ4 2022: $478.9MQ1 2023: $504.3MQ2 2023: $494.7MQ3 2023: $445.1MQ4 2023: $491.6MQ1 2024: $525.3MQ2 2024: $626.1MQ3 2024: $634.0MQ4 2024: $676.6MQ1 2025: $643.8MQ2 2025: $714.2MQ3 2025: $786.9MQ4 2025: $867.7MQ1 2026: $870.1MQ2 2026: $982.7M
Q1 2021Q2 2026
13F filings of Twin Focus Capital Partners, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 2026170$982.7MiShares Core MSCI Eafe ETFIAUVanguard Morningstar Total Stock Market ETFvs. Q1 2026SEC
Q1 2026May 14, 2026172$870.1MIAUiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2025SEC
Q4 2025Feb 17, 2026180$867.7MiShares Core MSCI Eafe ETFIAUVanguard Morningstar Total Stock Market ETFvs. Q3 2025SEC
Q3 2025Nov 12, 2025188$786.9MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFIAUvs. Q2 2025SEC
Q2 2025Aug 12, 2025167$714.2MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFIAUvs. Q1 2025SEC
Q1 2025May 13, 2025154$643.8MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFIAUvs. Q4 2024SEC
Q4 2024Feb 13, 2025141$676.6MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFIAUvs. Q3 2024SEC
Q3 2024Nov 14, 2024150$634.0MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFIAUvs. Q2 2024SEC
Q2 2024Aug 14, 2024134$626.1MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFPTCvs. Q1 2024SEC
Q1 2024May 15, 2024143$525.3MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFDELLvs. Q4 2023SEC
Q4 2023Mar 5, 2024Amended160$491.6MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFDELLvs. Q3 2023SEC
Q3 2023Nov 13, 2023163$445.1MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFDELLvs. Q2 2023SEC
Q2 2023Aug 14, 2023224$494.7MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFVanguard Malvern FDSvs. Q1 2023SEC
Q1 2023May 12, 2023220$504.3MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFVanguard Malvern FDSvs. Q4 2022SEC
Q4 2022Feb 14, 2023221$478.9MiShares Core MSCI Eafe ETFVanguard Morningstar Total Stock Market ETFVanguard Malvern FDSvs. Q3 2022SEC
Q3 2022Nov 14, 2022197$415.8MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFVanguard S&P 500 ETFvs. Q2 2022SEC
Q2 2022Aug 15, 2022204$445.1MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFSPYvs. Q1 2022SEC
Q1 2022May 13, 2022228$514.5MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFIAUvs. Q4 2021SEC
Q4 2021Feb 14, 2022226$499.6MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFiShares Core MSCI Emerging Markets ETFvs. Q3 2021SEC
Q3 2021Nov 15, 2021189$428.3MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFiShares Core MSCI Emerging Markets ETFvs. Q2 2021SEC
Q2 2021Aug 16, 2021191$432.1MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Eafe ETFiShares Core MSCI Emerging Markets ETFvs. Q1 2021SEC
Q1 2021May 12, 2021161$349.7MVanguard Morningstar Total Stock Market ETFiShares Core MSCI Emerging Markets ETFiShares Core MSCI Eafe ETF–SEC