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Livermore
Livermore
ZHEN

Sage Advisory Services, Ltd.Co.

SEC CIK
0001534378
Latest filing
Jul 22, 2026

The latest 13F from Sage Advisory Services, Ltd.Co. covers Q2 2026 (filed Jul 22, 2026): 46 long positions worth $203.2M. The top 10 holdings make up 67.3% of the portfolio, and the largest is iShares Core S&P 500 ETF at 15.0%. 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
7
Est. +$13.1M
Added
20
Est. +$11.3M
Reduced
13
Est. −$11.4M
Sold out
3
Est. −$7.51M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    15.0%$30.5M
  2. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    13.5%$27.4M
  3. Franklin Templeton ETF Tr35473P595
    7.8%$15.9M
  4. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    7.2%$14.6M
  5. Janus Detroit STR Tr47103U852
    5.7%$11.5M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$6.09MAdded
  2. DBX ETF Tr233051432
    +$4.56MNew
  3. iShares Tr464287515
    +$3.83MNew
  4. SPDR Index Shs FDS78463X509
    +$3.01MNew
  5. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +$1.39MAdded

Largest weight increases

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

  1. iShares Core S&P 500 ETF464287200
    +3.34 pp11.6% → 15.0%
  2. DBX ETF Tr233051432
    +2.24 pp0.0% → 2.2%
  3. iShares Tr464287515
    +1.88 pp0.0% → 1.9%
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +1.76 pp11.7% → 13.5%
  5. SPDR Index Shs FDS78463X509
    +1.48 pp0.0% → 1.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr46432F388
    −$3.74MSold out
  2. State Street SPDR S&P Bank ETF78464A797
    −$2.97MReduced
  3. iShares Inc464286426
    −$2.83MSold out
  4. Invesco Exchange Traded FD T46137V324
    −$2.66MReduced
  5. iShares Tr46435U853
    −$2.23MReduced

Largest weight decreases

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

  1. iShares Tr46432F388
    −2.05 pp2.0% → 0.0%
  2. iShares Inc464286426
    −1.55 pp1.6% → 0.0%
  3. iShares Tr46435U853
    −1.38 pp3.0% → 1.6%
  4. State Street SPDR S&P Bank ETF78464A797
    −1.34 pp4.0% → 2.6%
  5. Invesco Exchange Traded FD T46137V324
    −1.31 pp3.4% → 2.1%

Metrics

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

Portfolio value
$203.2M
+$20.7M (+11.3%) vs. prior quarter
Positions
46
+4 vs. prior quarter
Top 10 concentration
67.3%
Top 10 as share of value
Turnover
9.8%
Q2 2026, one quarter
Average holding period
11.1 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 $410.6M (Q1 2021)

Q1 2021: $410.6MQ2 2021: $365.2MQ3 2021: $384.7MQ4 2021: $402.7MQ1 2022: $396.4MQ2 2022: $349.4MQ3 2022: $320.9MQ4 2022: $341.8MQ1 2023: $352.6MQ2 2023: $342.9MQ3 2023: $357.4MQ4 2023: $373.3MQ1 2024: $366.3MQ2 2024: $356.2MQ3 2024: $356.2MQ4 2024: $168.5MQ1 2025: $170.2MQ2 2025: $183.6MQ3 2025: $190.7MQ4 2025: $183.6MQ1 2026: $182.6MQ2 2026: $203.2M
Q1 2021Q2 2026
13F filings of Sage Advisory Services, Ltd.Co. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 22, 202646$203.2MiShares Core S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFFranklin Templeton ETF Trvs. Q1 2026SEC
Q1 2026May 7, 202642$182.6MState Street SPDR Portfolio S&P 500 Growth ETFiShares Core S&P 500 ETFFranklin Templeton ETF Trvs. Q4 2025SEC
Q4 2025Jan 28, 202645$183.6MiShares Core S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio Developed World Ex-US ETFvs. Q3 2025SEC
Q3 2025Nov 6, 202544$190.7MState Street SPDR Portfolio S&P 500 Growth ETFiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFvs. Q2 2025SEC
Q2 2025Aug 6, 202543$183.6MiShares TrState Street SPDR Portfolio S&P 500 Growth ETFiShares Core S&P 500 ETFvs. Q1 2025SEC
Q1 2025May 6, 202541$170.2MiShares Core S&P 500 ETFiShares TriShares Core MSCI Eafe ETFvs. Q4 2024SEC
Q4 2024Feb 5, 202542$168.5MiShares Core S&P 500 ETFiShares TriShares Core MSCI Eafe ETFvs. Q3 2024SEC
Q3 2024Nov 4, 202446$356.2MiShares Core MSCI Eafe ETFiShares MSCI USA Quality Factor ETFJ P Morgan Exchange Traded Fvs. Q2 2024SEC
Q2 2024Aug 6, 202446$356.2MiShares Core MSCI Eafe ETFiShares MSCI USA Quality Factor ETFJ P Morgan Exchange Traded Fvs. Q1 2024SEC
Q1 2024Apr 26, 202448$366.3MiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFiShares Trvs. Q4 2023SEC
Q4 2023Feb 1, 202452$373.3MiShares Core S&P 500 ETFJ P Morgan Exchange Traded FJ P Morgan Exchange Traded Fvs. Q3 2023SEC
Q3 2023Nov 2, 202347$357.4MiShares Core S&P 500 ETFJ P Morgan Exchange Traded FiShares Trvs. Q2 2023SEC
Q2 2023Aug 2, 202346$342.9MiShares Core S&P 500 ETFJ P Morgan Exchange Traded FiShares Core MSCI Eafe ETFvs. Q1 2023SEC
Q1 2023May 4, 202345$352.6MiShares Core S&P 500 ETFJ P Morgan Exchange Traded FiShares Trvs. Q4 2022SEC
Q4 2022Feb 7, 202347$341.8MiShares Core S&P 500 ETFiShares MSCI USA Quality Factor ETFiShares Core MSCI Eafe ETFvs. Q3 2022SEC
Q3 2022Nov 10, 202245$320.9MiShares Core S&P 500 ETFVanguard World FDiShares MSCI USA Quality Factor ETFvs. Q2 2022SEC
Q2 2022Aug 2, 202252$349.4MiShares Core MSCI Eafe ETFiShares Core S&P 500 ETFiShares Incvs. Q1 2022SEC
Q1 2022May 4, 202250$396.4MiShares Core MSCI Eafe ETFVanguard World FDiShares Core S&P 500 ETFvs. Q4 2021SEC
Q4 2021Jan 31, 202255$402.7MiShares Core MSCI Eafe ETFiShares Core S&P 500 ETFVanguard World FDvs. Q3 2021SEC
Q3 2021Oct 25, 202158$384.7MiShares Core MSCI Eafe ETFiShares Core S&P 500 ETFiShares Incvs. Q2 2021SEC
Q2 2021Jul 14, 202154$365.2MiShares Core MSCI Eafe ETFiShares Core S&P 500 ETFiShares Trvs. Q1 2021SEC
Q1 2021Apr 27, 202150$410.6MiShares Core MSCI Eafe ETFiShares Core S&P 500 ETFVanguard Morningstar Value ETF–SEC