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Livermore
Livermore
ZHEN

L & S Advisors Inc

SEC CIK
0001392364
Latest filing
Aug 12, 2026

The latest 13F from L & S Advisors Inc covers Q2 2026 (filed Aug 12, 2026): 236 long positions worth $967.4M. The top 10 holdings make up 18.1% of the portfolio, and the largest is Apple Inc. (AAPL) at 2.7%. 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
42
Est. +$235.1M
Added
78
Est. +$77.4M
Reduced
85
Est. −$169.7M
Sold out
39
Est. −$103.9M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    2.7%$26.4MHistory
  2. NVDANVIDIA Corp
    2.2%$20.8MHistory
  3. SPYSPDR S&P 500 ETF Trust
    2.0%$19.1MHistory
  4. GOOGLAlphabet Inc.
    1.9%$18.0MHistory
  5. CATCaterpillar Inc
    1.7%$16.0MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. MSMorgan Stanley
    +$11.4MNewHistory
  2. AXPAmerican Express Co
    +$10.7MAddedHistory
  3. GLWCorning Inc
    +$10.6MNewHistory
  4. RLRalph Lauren Corp
    +$10.6MNewHistory
  5. DVNDevon Energy Corp
    +$10.1MNewHistory

Largest weight increases

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

  1. MSMorgan Stanley
    +1.17 pp0.0% → 1.2%History
  2. AXPAmerican Express Co
    +1.10 pp<0.1% → 1.1%History
  3. GLWCorning Inc
    +1.10 pp0.0% → 1.1%History
  4. RLRalph Lauren Corp
    +1.09 pp0.0% → 1.1%History
  5. DVNDevon Energy Corp
    +1.04 pp0.0% → 1.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPYSPDR S&P 500 ETF Trust
    −$29.9MReducedHistory
  2. AEPAmerican Electric Power Co Inc
    −$11.2MReducedHistory
  3. DUKDuke Energy CORP
    −$10.5MReducedHistory
  4. GILDGilead Sciences, Inc.
    −$10.5MSold outHistory
  5. MUMicron Technology Inc
    −$8.52MReducedHistory

Largest weight decreases

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

  1. SPYSPDR S&P 500 ETF Trust
    −3.40 pp5.4% → 2.0%History
  2. DUKDuke Energy CORP
    −1.38 pp1.4% → <0.1%History
  3. AEPAmerican Electric Power Co Inc
    −1.35 pp1.4% → <0.1%History
  4. GILDGilead Sciences, Inc.
    −1.32 pp1.3% → 0.0%History
  5. EQTEQT Corp
    −1.28 pp1.4% → 0.1%History

Metrics

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

Portfolio value
$967.4M
+$172.5M (+21.7%) vs. prior quarter
Positions
236
+3 vs. prior quarter
Top 10 concentration
18.1%
Top 10 as share of value
Turnover
31.1%
Q2 2026, one quarter
Average holding period
10.1 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 $1.08B (Q4 2025)

Q1 2021: $880.7MQ2 2021: $929.5MQ3 2021: $926.0MQ4 2021: $927.4MQ1 2022: $844.5MQ2 2022: $599.0MQ3 2022: $567.5MQ4 2022: $540.1MQ1 2023: $714.2MQ2 2023: $749.5MQ3 2023: $696.1MQ4 2023: $820.6MQ1 2024: $884.6MQ2 2024: $877.1MQ3 2024: $956.7MQ4 2024: $912.3MQ1 2025: $810.5MQ2 2025: $1.01BQ3 2025: $1.04BQ4 2025: $1.08BQ1 2026: $794.9MQ2 2026: $967.4M
Q1 2021Q2 2026
13F filings of L & S Advisors Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 2026236$967.4MAAPLNVDASPYvs. Q1 2026SEC
Q1 2026May 11, 2026233$794.9MSPYAAPLNVDAvs. Q4 2025SEC
Q4 2025Feb 5, 2026370$1.08BAAPLNVDAGOOGLvs. Q3 2025SEC
Q3 2025Nov 7, 2025343$1.04BGLDAAPLNVDAvs. Q2 2025SEC
Q2 2025Aug 8, 2025339$1.01BSPYNVDAAAPLvs. Q1 2025SEC
Q1 2025May 9, 2025352$810.5MSsga Active ETF TrAAPLGLDvs. Q4 2024SEC
Q4 2024Feb 12, 2025334$912.3MSPYAAPLNVDAvs. Q3 2024SEC
Q3 2024Nov 12, 2024344$956.7MAAPLNVDAMSFTvs. Q2 2024SEC
Q2 2024Aug 9, 2024323$877.1MAAPLMSFTNVDAvs. Q1 2024SEC
Q1 2024May 10, 2024332$884.6MAAPLMSFTAMZNvs. Q4 2023SEC
Q4 2023Feb 13, 2024314$820.6MMSFTAAPLMETAvs. Q3 2023SEC
Q3 2023Nov 13, 2023294$696.1MAAPLLLYMSFTvs. Q2 2023SEC
Q2 2023Aug 14, 2023302$749.5MSPYAAPLMSFTvs. Q1 2023SEC
Q1 2023May 10, 2023302$714.2MDIAAAPLGLDvs. Q4 2022SEC
Q4 2022Feb 13, 2023241$540.1MAAPLMSFTLLYvs. Q3 2022SEC
Q3 2022Nov 14, 2022234$567.5MProShares TrAAPLLLYvs. Q2 2022SEC
Q2 2022Aug 12, 2022232$599.0MSPYAAPLMSFTvs. Q1 2022SEC
Q1 2022May 11, 2022283$844.5MAAPLVanguard SHT TRM Invt GRDMSFTvs. Q4 2021SEC
Q4 2021Feb 9, 2022295$927.4MAAPLVanguard SHT TRM Invt GRDMSFTvs. Q3 2021SEC
Q3 2021Nov 9, 2021333$926.0MAAPLVanguard SHT TRM Invt GRDMSFTvs. Q2 2021SEC
Q2 2021Aug 12, 2021329$929.5MAAPLMSFTAMZNvs. Q1 2021SEC
Q1 2021May 10, 2021344$880.7MAAPLAMZNGOOGL–SEC