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Livermore
Livermore
ZHEN

Commonwealth Financial Services, LLC

SEC CIK
0001536755
Latest filing
Jul 15, 2026

The latest 13F from Commonwealth Financial Services, LLC covers Q2 2026 (filed Jul 15, 2026): 317 long positions worth $744.2M. The top 10 holdings make up 45.3% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 9.4%. Livermore has 12 filings on Form 13F from this institution, going back to Q3 2023.

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
67
Est. +$198.9M
Added
126
Est. +$71.4M
Reduced
99
Est. −$214.2M
Sold out
28
Est. −$6.12M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    9.4%$70.2MHistory
  2. Invesco QQQ Trust Series I46090E103
    5.9%$43.8M
  3. iShares Core U.S. Aggregate Bond ETF464287226
    5.4%$40.3M
  4. iShares Core S&P 500 ETF464287200
    4.9%$36.8M
  5. Invesco Actively Managed Exc46090A804
    4.3%$31.7M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +$40.3MNew
  2. Invesco Actively Managed Exc46090A804
    +$31.7MNew
  3. Invesco Exch Traded FD Tr II46138E107
    +$28.8MNew
  4. Invesco Exch Traded FD Tr II46138G698
    +$23.4MNew
  5. SPYSPDR S&P 500 ETF Trust
    +$12.8MAddedHistory

Largest weight increases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +5.42 pp0.0% → 5.4%
  2. Invesco Actively Managed Exc46090A804
    +4.25 pp0.0% → 4.3%
  3. Invesco Exch Traded FD Tr II46138E107
    +3.87 pp0.0% → 3.9%
  4. Invesco Exch Traded FD Tr II46138G698
    +3.15 pp0.0% → 3.1%
  5. First Trust Rising Dividend Achievers ETF33738R506
    +1.64 pp1.9% → 3.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. First Tr Exchng Traded FD VI33740F516
    −$31.2MReduced
  2. First Tr Exchng Traded FD VI33740F805
    −$27.5MReduced
  3. First Tr Exchng Traded FD VI33740F888
    −$15.2MReduced
  4. Alpha Architect ETF Tr02072L409
    −$15.2MReduced
  5. Ea Series Trust02072L607
    −$14.6MReduced

Largest weight decreases

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

  1. First Tr Exchng Traded FD VI33740F516
    −4.70 pp5.7% → 1.0%
  2. First Tr Exchng Traded FD VI33740F805
    −4.51 pp5.4% → 0.9%
  3. First Tr Exchng Traded FD VI33740F888
    −2.49 pp3.0% → 0.5%
  4. iShares Tr464288653
    −2.21 pp2.6% → 0.4%
  5. Alpha Architect ETF Tr02072L409
    −2.12 pp3.3% → 1.2%

Metrics

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

Portfolio value
$744.2M
+$112.5M (+17.8%) vs. prior quarter
Positions
317
+39 vs. prior quarter
Top 10 concentration
45.3%
Top 10 as share of value
Turnover
32.0%
Q2 2026, one quarter
Average holding period
7.6 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 (Q3 2023), so positions held before then are understated.

13F filings by quarter

12 quarters, going back to Q3 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $744.2M (Q2 2026)

Q3 2023: $336.2MQ4 2023: $424.6MQ1 2024: $424.4MQ2 2024: $487.2MQ3 2024: $506.4MQ4 2024: $510.2MQ1 2025: $488.0MQ2 2025: $519.3MQ3 2025: $584.4MQ4 2025: $606.3MQ1 2026: $631.7MQ2 2026: $744.2M
Q3 2023Q2 2026
13F filings of Commonwealth Financial Services, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 15, 2026317$744.2MSPYInvesco QQQ Trust Series IiShares Core U.S. Aggregate Bond ETFvs. Q1 2026SEC
Q1 2026May 7, 2026278$631.7MSPYFirst Tr Exchng Traded FD VIFirst Tr Exchng Traded FD VIvs. Q4 2025SEC
Q4 2025Feb 6, 2026234$606.3MSPYInvesco QQQ Trust Series IFirst Tr Exchng Traded FD VIvs. Q3 2025SEC
Q3 2025Oct 21, 2025227$584.4MSPYInvesco QQQ Trust Series IFirst Tr Exchng Traded FD VIvs. Q2 2025SEC
Q2 2025Jul 25, 2025212$519.3MSPYFirst Tr Exchng Traded FD VIInvesco QQQ Trust Series Ivs. Q1 2025SEC
Q1 2025May 9, 2025197$488.0MSPYFirst Tr Exchng Traded FD VIInvesco QQQ Trust Series Ivs. Q4 2024SEC
Q4 2024Jan 27, 2025192$510.2MSPYFirst Tr Exchng Traded FD VIInvesco QQQ Trust Series Ivs. Q3 2024SEC
Q3 2024Oct 22, 2024194$506.4MSPYFirst Tr Exchng Traded FD VIInvesco QQQ Trust Series Ivs. Q2 2024SEC
Q2 2024Aug 13, 2024191$487.2MSPYFirst Tr Exchng Traded FD VIiShares Core S&P 500 ETFvs. Q1 2024SEC
Q1 2024May 14, 2024185$424.4MiShares Core S&P 500 ETFSPYJanus Detroit STR Trvs. Q4 2023SEC
Q4 2023Feb 14, 2024185$424.6MiShares Core S&P 500 ETFSPYJanus Detroit STR Trvs. Q3 2023SEC
Q3 2023Nov 13, 2023189$336.2MiShares Core S&P 500 ETFSPYJanus Detroit STR Tr–SEC