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Livermore
Livermore
ZHEN

Quantitative Investment Management, LLC

SEC CIK
0001445911
Latest filing
Aug 14, 2026

The latest 13F from Quantitative Investment Management, LLC covers Q2 2026 (filed Aug 14, 2026): 346 long positions worth $917.4M. The top 10 holdings make up 22.0% of the portfolio, and the largest is State Street Health Care Select Sector SPDR ETF at 4.4%. 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
184
Est. +$476.8M
Added
91
Est. +$189.5M
Reduced
71
Est. −$174.6M
Sold out
201
Est. −$533.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street Health Care Select Sector SPDR ETF81369Y209
    4.4%$40.4M
  2. State Street SPDR S&P Regional Banking ETF78464A698
    3.6%$33.3M
  3. State Street Financial Select Sector SPDR ETF81369Y605
    2.1%$19.4M
  4. State Street Energy Select Sector SPDR ETF81369Y506
    2.0%$18.6M
  5. JPMJPMorgan Chase & Co
    1.9%$17.4MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR S&P Regional Banking ETF78464A698
    +$33.3MNew
  2. State Street Health Care Select Sector SPDR ETF81369Y209
    +$28.2MAdded
  3. State Street Energy Select Sector SPDR ETF81369Y506
    +$18.6MNew
  4. JPMJPMorgan Chase & Co
    +$17.4MNewHistory
  5. XOMExxonMobil Holdings Corp
    +$16.9MNewHistory

Largest weight increases

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

  1. State Street SPDR S&P Regional Banking ETF78464A698
    +3.63 pp0.0% → 3.6%
  2. State Street Health Care Select Sector SPDR ETF81369Y209
    +3.23 pp1.2% → 4.4%
  3. State Street Energy Select Sector SPDR ETF81369Y506
    +2.02 pp0.0% → 2.0%
  4. JPMJPMorgan Chase & Co
    +1.90 pp0.0% → 1.9%History
  5. XOMExxonMobil Holdings Corp
    +1.84 pp0.0% → 1.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street Industrial Select Sector SPDR ETF81369Y704
    −$29.1MSold out
  2. MSFTMicrosoft Corp
    −$27.2MSold outHistory
  3. iShares Tr464287515
    −$20.4MSold out
  4. GOOGLAlphabet Inc.
    −$20.0MReducedHistory
  5. State Street Consumer Staples Select Sector SPDR ETF81369Y308
    −$17.7MSold out

Largest weight decreases

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

  1. State Street Industrial Select Sector SPDR ETF81369Y704
    −3.02 pp3.0% → 0.0%
  2. MSFTMicrosoft Corp
    −2.82 pp2.8% → 0.0%History
  3. iShares Tr464287515
    −2.12 pp2.1% → 0.0%
  4. State Street Consumer Staples Select Sector SPDR ETF81369Y308
    −1.84 pp1.8% → 0.0%
  5. GOOGLAlphabet Inc.
    −1.58 pp2.0% → 0.4%History

Metrics

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

Portfolio value
$917.4M
−$45.1M (−4.7%) vs. prior quarter
Positions
346
−17 vs. prior quarter
Top 10 concentration
22.0%
Top 10 as share of value
Turnover
70.9%
Q2 2026, one quarter
Average holding period
1.9 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 $1.74B (Q4 2023)

Q1 2021: $1.18BQ2 2021: $1.11BQ3 2021: $1.10BQ4 2021: $712.4MQ1 2022: $925.5MQ2 2022: $656.5MQ3 2022: $602.2MQ4 2022: $525.9MQ1 2023: $474.6MQ2 2023: $1.06BQ3 2023: $650.2MQ4 2023: $1.74BQ1 2024: $1.70BQ2 2024: $917.5MQ3 2024: $1.01BQ4 2024: $1.33BQ1 2025: $1.09BQ2 2025: $745.8MQ3 2025: $719.2MQ4 2025: $1.03BQ1 2026: $962.5MQ2 2026: $917.4M
Q1 2021Q2 2026
13F filings of Quantitative Investment Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026346$917.4MState Street Health Care Select Sector SPDR ETFState Street SPDR S&P Regional Banking ETFState Street Financial Select Sector SPDR ETFvs. Q1 2026SEC
Q1 2026May 15, 2026363$962.5MState Street Industrial Select Sector SPDR ETFMSFTiShares Trvs. Q4 2025SEC
Q4 2025Feb 17, 2026376$1.03BState Street Financial Select Sector SPDR ETFState Street Materials Select Sector SPDR ETFIBITvs. Q3 2025SEC
Q3 2025Nov 13, 2025322$719.2MTSLANVDAPLTRvs. Q2 2025SEC
Q2 2025Aug 14, 2025296$745.8MState Street Financial Select Sector SPDR ETFUNHMSTRvs. Q1 2025SEC
Q1 2025May 14, 2025316$1.09BState Street Energy Select Sector SPDR ETFState Street Financial Select Sector SPDR ETFState Street Consumer Staples Select Sector SPDR ETFvs. Q4 2024SEC
Q4 2024Feb 14, 2025312$1.33BState Street Health Care Select Sector SPDR ETFAVGOAMZNvs. Q3 2024SEC
Q3 2024Nov 14, 2024310$1.01BiShares TrKraneshares TrustAMDvs. Q2 2024SEC
Q2 2024Aug 14, 2024300$917.5MAMZNAAPLState Street Consumer Discretionary Select Sector SPDR ETFvs. Q1 2024SEC
Q1 2024May 15, 2024228$1.70BSPYGLDState Street Energy Select Sector SPDR ETFvs. Q4 2023SEC
Q4 2023Feb 13, 2024303$1.74BAAPLState Street Energy Select Sector SPDR ETFAMDvs. Q3 2023SEC
Q3 2023Nov 14, 2023162$650.2MSPYState Street Industrial Select Sector SPDR ETFState Street Consumer Staples Select Sector SPDR ETFvs. Q2 2023SEC
Q2 2023Aug 14, 2023264$1.06BGLDiShares IncState Street Financial Select Sector SPDR ETFvs. Q1 2023SEC
Q1 2023May 15, 2023214$474.6MPFEState Street Industrial Select Sector SPDR ETFJNJvs. Q4 2022SEC
Q4 2022Feb 14, 2023206$525.9MState Street Financial Select Sector SPDR ETFTSLAState Street Industrial Select Sector SPDR ETFvs. Q3 2022SEC
Q3 2022Nov 14, 2022265$602.2MGLDState Street Consumer Staples Select Sector SPDR ETFVZvs. Q2 2022SEC
Q2 2022Aug 15, 2022207$656.5MGLDVanEck ETF TrustState Street Consumer Discretionary Select Sector SPDR ETFvs. Q1 2022SEC
Q1 2022May 16, 2022192$925.5MSPYGLDAAPLvs. Q4 2021SEC
Q4 2021Feb 14, 2022231$712.4MState Street Industrial Select Sector SPDR ETFState Street Health Care Select Sector SPDR ETFTSLAvs. Q3 2021SEC
Q3 2021Nov 15, 2021369$1.10BiShares IncNFLXPFEvs. Q2 2021SEC
Q2 2021Aug 16, 2021376$1.11BAMZNiShares TrState Street Consumer Staples Select Sector SPDR ETFvs. Q1 2021SEC
Q1 2021May 17, 2021470$1.18BState Street Consumer Staples Select Sector SPDR ETFMSFTState Street Utilities Select Sector SPDR ETF–SEC