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Livermore
Livermore
ZHEN

GFS Advisors, LLC

SEC CIK
0001427263
Latest filing
Aug 13, 2026

The latest 13F from GFS Advisors, LLC covers Q2 2026 (filed Aug 13, 2026): 370 long positions worth $874.2M. The top 10 holdings make up 39.8% of the portfolio, and the largest is iShares Inc at 5.7%. Livermore has 24 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
175
Est. +$27.4M
Added
94
Est. +$114.1M
Reduced
101
Est. −$2.19B
Sold out
62
Est. −$175.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Inc46434G822
    5.7%$49.6M
  2. GOOGLAlphabet Inc.
    4.9%$42.8MHistory
  3. iShares Core S&P Small Cap ETF464287804
    4.5%$39.0M
  4. SPYSPDR S&P 500 ETF Trust
    4.1%$36.2MHistory
  5. BABAAlibaba Group Holding Ltd
    4.1%$36.1MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Inc46434G822
    +$23.8MAdded
  2. iShares Tr464288182
    +$9.08MAdded
  3. Vanguard Ftse All-World Ex-US Small-Cap ETF922042718
    +$7.73MAdded
  4. Palantir Technologies Inc69608A908
    +$6.66MNew
  5. Simplify Exchange Traded Fun82889N442
    +$6.40MNew

Largest weight increases

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

  1. iShares Inc46434G822
    +4.05 pp1.6% → 5.7%
  2. iShares Core S&P Small Cap ETF464287804
    +3.15 pp1.3% → 4.5%
  3. iShares Tr464288182
    +1.98 pp0.8% → 2.8%
  4. SPYSPDR S&P 500 ETF Trust
    +1.98 pp2.2% → 4.1%History
  5. iShares Tr464288257
    +1.57 pp1.9% → 3.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MOAltria Group, Inc.
    −$728.3MReducedHistory
  2. QCOMQualcomm Inc
    −$626.4MReducedHistory
  3. CRWDCrowdStrike Holdings, Inc.
    −$222.5MReducedHistory
  4. NEMNEWMONT Corp
    −$208.1MReducedHistory
  5. STZConstellation Brands, Inc.
    −$99.1MReducedHistory

Largest weight decreases

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

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    −2.58 pp2.6% → <0.1%
  2. CRWDCrowdStrike Holdings, Inc.
    −2.44 pp2.5% → <0.1%History
  3. iShares Russell 1000 Value ETF464287598
    −2.30 pp2.3% → 0.0%
  4. CAHCardinal Health Inc
    −1.88 pp1.9% → 0.0%History
  5. WTWWillis Towers Watson PLC
    −1.87 pp1.9% → 0.0%History

Metrics

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

Portfolio value
$874.2M
−$542.9M (−38.3%) vs. prior quarter
Positions
370
+113 vs. prior quarter
Top 10 concentration
39.8%
Top 10 as share of value
Turnover
12.3%
Q2 2026, one quarter
Average holding period
12.7 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 $1.42B (Q1 2026)

Q1 2021: $427.0MQ2 2021: $444.1MQ3 2021: $460.0MQ4 2021: $606.2MQ1 2022: $475.2MQ2 2022: $446.7MQ3 2022: $416.8MQ4 2022: $444.8MQ1 2023: $434.9MQ2 2023: $449.8MQ3 2023: $643.5MQ4 2023: $684.0MQ1 2024: $603.6MQ2 2024: $607.6MQ3 2024: $470.4MQ4 2024: $657.6MQ1 2025: $498.1MQ2 2025: $730.8MQ3 2025: $783.7MQ4 2025: $842.0MQ1 2026: $1.42BQ2 2026: $874.2M
Q1 2021Q2 2026
13F filings of GFS Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 2026Amended370$874.2MiShares IncGOOGLiShares Core S&P Small Cap ETFvs. Q1 2026SECSEC
Q1 2026May 11, 2026Amended257$1.42BGOOGLBABADISvs. Q4 2025SECSEC
Q4 2025Feb 11, 2026173$842.0MTSLAGOOGLSPYvs. Q3 2025SEC
Q3 2025Nov 6, 2025147$783.7MSPYDISGOOGLvs. Q2 2025SEC
Q2 2025Jul 25, 2025146$730.8MDISSPYMSFTvs. Q1 2025SEC
Q1 2025Apr 21, 2025122$498.1MDISVanguard Ftse Emerging Markets ETFBABAvs. Q4 2024SEC
Q4 2024Jan 23, 2025152$657.6MDISSPYFDXvs. Q3 2024SEC
Q3 2024Oct 29, 2024111$470.4MDISGOOGLVanguard Ftse Emerging Markets ETFvs. Q2 2024SEC
Q2 2024Jul 26, 2024201$607.6MSPYDISFDXvs. Q1 2024SEC
Q1 2024Apr 25, 2024146$603.6MDISFDXSPYvs. Q4 2023SEC
Q4 2023Jan 24, 2024152$684.0MAMZNAAPLSPYvs. Q3 2023SEC
Q3 2023Oct 19, 2023151$643.5MAMZNAAPLFDXvs. Q2 2023SEC
Q2 2023Aug 8, 2023135$449.8MAAPLAMZNFDXvs. Q1 2023SEC
Q1 2023Apr 27, 2023137$434.9MAAPLFDXAMZNvs. Q4 2022SEC
Q4 2022Jan 26, 2023134$444.8MAAPLSPYVanguard Ftse Emerging Markets ETFvs. Q3 2022SEC
Q3 2022Oct 13, 2022139$416.8MAAPLAMZNSPYvs. Q2 2022SEC
Q2 2022Jul 19, 2022136$446.7MAAPLFDXSPYvs. Q1 2022SEC
Q1 2022Apr 21, 2022152$475.2MAAPLFDXBACvs. Q4 2021SEC
Q4 2021Jan 21, 2022172$606.2MAAPLBACULvs. Q3 2021SEC
Q3 2021Nov 3, 2021170$460.0MAAPLBACTSLAvs. Q2 2021SEC
Q2 2021Jul 26, 2021151$444.1MAAPLFDXBACvs. Q1 2021SEC
Q1 2021May 3, 2021137$427.0MAAPLBACFDX–SEC