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Livermore
Livermore
ZHEN

Rocky Mountain Advisers, LLC

SEC CIK
0001512779
Latest filing
Jul 24, 2026

The latest 13F from Rocky Mountain Advisers, LLC covers Q2 2026 (filed Jul 24, 2026): 276 long positions worth $392.5M. The top 10 holdings make up 86.3% of the portfolio, and the largest is Elevation Series Trust at 50.4%. 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
8
Est. +$1.14M
Added
35
Est. +$3.37M
Reduced
17
Est. −$1.98M
Sold out
10
Est. −$434.7K

Top 5 holdings

Share of this quarter's portfolio value

  1. Elevation Series Trust210322103
    50.4%$197.6M
  2. Elevation Series Trust210322301
    13.3%$52.1M
  3. Schwab US Dividend Equity ETF808524797
    7.1%$27.7M
  4. JPMJPMorgan Chase & Co
    4.8%$18.7MHistory
  5. Schwab U.S. Broad Market ETF808524102
    2.9%$11.4M

Share of portfolio

Top 5 holdings and the other 271 positions, by share of portfolio value

  1. Elevation Series Trust50.4%
  2. Elevation Series Trust13.3%
  3. Schwab US Dividend Equity ETF7.1%
  4. JPM4.8%
  5. Schwab U.S. Broad Market ETF2.9%
  6. Other 271 positions21.6%

Biggest buys

New and added positions, by estimated amount bought

  1. American Centy ETF Tr025072349
    +$732.4KAdded
  2. Vanguard Scottsdale FDS92206C409
    +$365.9KAdded
  3. BRK.BBerkshire Hathaway Inc
    +$350.3KAddedHistory
  4. iShares Tr46434V878
    +$303.5KNew
  5. iShares Tr46436E718
    +$302.0KNew

Largest weight increases

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

  1. Elevation Series Trust210322103
    +0.87 pp49.5% → 50.4%
  2. American Centy ETF Tr025072349
    +0.20 pp1.6% → 1.8%
  3. iShares Tr46434V878
    +0.08 pp0.0% → 0.1%
  4. iShares Tr46436E718
    +0.08 pp0.0% → 0.1%
  5. iShares Core Dividend Growth ETF46434V621
    +0.07 pp0.0% → 0.1%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. STEWSRH Total Return Fund, Inc.
    −$431.5KReducedHistory
  2. WMTWalmart Inc.
    −$407.7KReducedHistory
  3. MRKMerck & Co., Inc.
    −$262.8KReducedHistory
  4. Schwab US Dividend Equity ETF808524797
    −$235.2KReduced
  5. Vanguard High Dividend Yield Index ETF921946406
    −$147.6KReduced

Largest weight decreases

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

  1. Schwab US Dividend Equity ETF808524797
    −0.68 pp7.7% → 7.1%
  2. WMTWalmart Inc.
    −0.22 pp0.6% → 0.4%History
  3. STEWSRH Total Return Fund, Inc.
    −0.17 pp0.9% → 0.8%History
  4. MRKMerck & Co., Inc.
    −0.07 pp0.1% → <0.1%History
  5. Vanguard High Dividend Yield Index ETF921946406
    −0.06 pp0.4% → 0.4%

Metrics

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

Portfolio value
$392.5M
+$43.0M (+12.3%) vs. prior quarter
Positions
276
−2 vs. prior quarter
Top 10 concentration
86.3%
Top 10 as share of value
Turnover
0.7%
Q2 2026, one quarter
Average holding period
16.3 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 $392.5M (Q2 2026)

Q1 2021: $70.3MQ2 2021: $80.3MQ3 2021: $82.1MQ4 2021: $88.0MQ1 2022: $90.1MQ2 2022: $81.1MQ3 2022: $76.8MQ4 2022: $180.3MQ1 2023: $187.8MQ2 2023: $187.8MQ3 2023: $205.1MQ4 2023: $286.4MQ1 2024: $315.5MQ2 2024: $298.7MQ3 2024: $329.4MQ4 2024: $337.1MQ1 2025: $323.9MQ2 2025: $328.8MQ3 2025: $342.5MQ4 2025: $347.3MQ1 2026: $349.5MQ2 2026: $392.5M
Q1 2021Q2 2026
13F filings of Rocky Mountain Advisers, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 2026276$392.5MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q1 2026SEC
Q1 2026Apr 29, 2026278$349.5MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q4 2025SEC
Q4 2025Jan 21, 2026293$347.3MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q3 2025SEC
Q3 2025Oct 17, 2025277$342.5MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q2 2025SEC
Q2 2025Jul 22, 2025268$328.8MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q1 2025SEC
Q1 2025May 5, 2025269$323.9MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q4 2024SEC
Q4 2024Jan 29, 2025281$337.1MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q3 2024SEC
Q3 2024Nov 1, 2024285$329.4MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q2 2024SEC
Q2 2024Aug 6, 2024290$298.7MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q1 2024SEC
Q1 2024Apr 26, 2024307$315.5MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q4 2023SEC
Q4 2023Jan 24, 2024298$286.4MElevation Series TrustElevation Series TrustSchwab US Dividend Equity ETFvs. Q3 2023SEC
Q3 2023Oct 31, 2023292$205.1MElevation Series TrustSchwab US Dividend Equity ETFJPMvs. Q2 2023SEC
Q2 2023Jul 27, 2023294$187.8MElevation Series TrustUTFJPMvs. Q1 2023SEC
Q1 2023Apr 19, 2023294$187.8MElevation Series TrustUTFJPMvs. Q4 2022SEC
Q4 2022Feb 1, 2023303$180.3MElevation Series TrustUTFJPMvs. Q3 2022SEC
Q3 2022Oct 17, 2022320$76.8MUTFJPMSchwab U.S. Broad Market ETFvs. Q2 2022SEC
Q2 2022Jul 26, 2022304$81.1MUTFJPMSchwab U.S. Broad Market ETFvs. Q1 2022SEC
Q1 2022Apr 27, 2022310$90.1MUTFSchwab U.S. Broad Market ETFJPMvs. Q4 2021SEC
Q4 2021Feb 9, 2022312$88.0MUTFSchwab U.S. Broad Market ETFJPMvs. Q3 2021SEC
Q3 2021Oct 26, 2021306$82.1MUTFJPMSchwab U.S. Broad Market ETFvs. Q2 2021SEC
Q2 2021Jul 22, 2021302$80.3MUTFJPMSchwab U.S. Broad Market ETFvs. Q1 2021SEC
Q1 2021Apr 27, 2021298$70.3MUTFJPMSchwab U.S. Broad Market ETF–SEC