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Livermore
Livermore
ZHEN

Courage Miller Partners, LLC

SEC CIK
0001482106
Latest filing
Jul 23, 2026

The latest 13F from Courage Miller Partners, LLC covers Q2 2026 (filed Jul 23, 2026): 87 long positions worth $379.0M. The top 10 holdings make up 62.2% of the portfolio, and the largest is Schwab U.S. Large-Cap ETF at 13.4%. 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
0
Added
19
Est. +$4.06M
Reduced
37
Est. −$2.92M
Sold out
5
Est. −$3.25M

Top 5 holdings

Share of this quarter's portfolio value

  1. Schwab U.S. Large-Cap ETF808524201
    13.4%$50.9M
  2. Schwab International Equity ETF808524805
    9.0%$34.0M
  3. iShares Tr46432F859
    7.6%$28.7M
  4. iShares Tr464288646
    6.4%$24.4M
  5. Schwab Strategic Tr808524862
    5.4%$20.5M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr46432F859
    +$1.18MAdded
  2. iShares Tr464288646
    +$970.3KAdded
  3. Schwab Strategic Tr808524862
    +$744.1KAdded
  4. Vanguard Total Bond Market ETF921937835
    +$674.0KAdded
  5. Invesco Exchange Traded FD T46137V357
    +$190.0KAdded

Largest weight increases

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

  1. Schwab U.S. Large-Cap Growth ETF808524300
    +0.20 pp2.3% → 2.5%
  2. Invesco Exchange Traded FD T46137V357
    +0.17 pp3.3% → 3.5%
  3. AAPLApple Inc.
    +0.04 pp0.6% → 0.6%History
  4. Vanguard Morningstar Total Stock Market ETF922908769
    +0.04 pp0.5% → 0.5%
  5. iShares Tr464287739
    +0.01 pp0.2% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GLDSPDR Gold Trust
    −$1.38MSold outHistory
  2. VanEck ETF Trust92189F106
    −$959.0KSold out
  3. BRK.BBerkshire Hathaway Inc
    −$793.1KReducedHistory
  4. SP Funds S&P 500 Sharia Industry Exclusions ETF886364801
    −$391.2KSold out
  5. Schwab International Equity ETF808524805
    −$362.9KReduced

Largest weight decreases

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

  1. GLDSPDR Gold Trust
    −0.39 pp0.4% → 0.0%History
  2. VanEck ETF Trust92189F106
    −0.27 pp0.3% → 0.0%
  3. BRK.BBerkshire Hathaway Inc
    −0.22 pp0.4% → 0.2%History
  4. Schwab US Dividend Equity ETF808524797
    −0.15 pp4.1% → 3.9%
  5. XOMExxonMobil Holdings Corp
    −0.13 pp0.5% → 0.4%History

Metrics

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

Portfolio value
$379.0M
+$24.8M (+7.0%) vs. prior quarter
Positions
87
−5 vs. prior quarter
Top 10 concentration
62.2%
Top 10 as share of value
Turnover
1.1%
Q2 2026, one quarter
Average holding period
20.5 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 $379.0M (Q2 2026)

Q1 2021: $230.2MQ2 2021: $244.7MQ3 2021: $248.9MQ4 2021: $264.3MQ1 2022: $251.9MQ2 2022: $210.6MQ3 2022: $198.4MQ4 2022: $217.1MQ1 2023: $236.2MQ2 2023: $240.0MQ3 2023: $243.8MQ4 2023: $264.3MQ1 2024: $289.2MQ2 2024: $278.0MQ3 2024: $297.5MQ4 2024: $292.1MQ1 2025: $295.2MQ2 2025: $315.4MQ3 2025: $333.5MQ4 2025: $332.1MQ1 2026: $354.2MQ2 2026: $379.0M
Q1 2021Q2 2026
13F filings of Courage Miller Partners, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 23, 202687$379.0MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q1 2026SEC
Q1 2026Apr 27, 202692$354.2MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q4 2025SEC
Q4 2025Jan 26, 202684$332.1MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q3 2025SEC
Q3 2025Oct 22, 202585$333.5MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q2 2025SEC
Q2 2025Jul 25, 202586$315.4MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q1 2025SEC
Q1 2025Apr 29, 202582$295.2MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q4 2024SEC
Q4 2024Jan 17, 202580$292.1MSchwab U.S. Large-Cap ETFiShares TrSchwab International Equity ETFvs. Q3 2024SEC
Q3 2024Oct 21, 202481$297.5MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q2 2024SEC
Q2 2024Jul 25, 202478$278.0MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q1 2024SEC
Q1 2024Apr 16, 202485$289.2MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q4 2023SEC
Q4 2023Jan 19, 202475$264.3MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q3 2023SEC
Q3 2023Oct 16, 202374$243.8MSchwab U.S. Large-Cap ETFiShares TrSchwab International Equity ETFvs. Q2 2023SEC
Q2 2023Jul 20, 202376$240.0MSchwab U.S. Large-Cap ETFiShares TrSchwab International Equity ETFvs. Q1 2023SEC
Q1 2023Apr 24, 202374$236.2MSchwab U.S. Large-Cap ETFiShares TrSchwab International Equity ETFvs. Q4 2022SEC
Q4 2022Jan 30, 202370$217.1MSchwab U.S. Large-Cap ETFiShares TrSchwab International Equity ETFvs. Q3 2022SEC
Q3 2022Oct 19, 202267$198.4MSchwab U.S. Large-Cap ETFiShares TrSchwab Strategic Trvs. Q2 2022SEC
Q2 2022Jul 18, 202270$210.6MSchwab U.S. Large-Cap ETFiShares TrSchwab Strategic Trvs. Q1 2022SEC
Q1 2022May 6, 202276$251.9MSchwab U.S. Large-Cap ETFiShares TriShares Trvs. Q4 2021SEC
Q4 2021Jan 19, 202285$264.3MSchwab U.S. Large-Cap ETFiShares TrSchwab International Equity ETFvs. Q3 2021SEC
Q3 2021Nov 5, 202184$248.9MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q2 2021SEC
Q2 2021Jul 28, 202184$244.7MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Trvs. Q1 2021SEC
Q1 2021Apr 26, 202184$230.2MSchwab U.S. Large-Cap ETFSchwab International Equity ETFiShares Tr–SEC