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Livermore
Livermore
ZHEN

Smith Anglin Financial, LLC

SEC CIK
0001553540
Latest filing
Jul 17, 2025

The latest 13F from Smith Anglin Financial, LLC covers Q2 2025 (filed Jul 17, 2025): 209 long positions worth $1.10B. The top 10 holdings make up 66.5% of the portfolio, and the largest is WisdomTree Tr at 16.1%. Livermore has 18 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2025

Share counts compared with Q1 2025: 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
14
Est. +$277.4M
Added
75
Est. +$115.6M
Reduced
109
Est. −$319.6M
Sold out
19
Est. −$5.50M

Top 5 holdings

Share of this quarter's portfolio value

  1. WisdomTree Tr97717Y477
    16.1%$178.4M
  2. Victory Portfolios II92647X830
    8.7%$96.2M
  3. WisdomTree Tr97717W547
    8.7%$96.2M
  4. iShares Core Dividend Growth ETF46434V621
    8.5%$93.8M
  5. Victory Portfolios II92647X764
    6.9%$76.5M

Biggest buys

New and added positions, by estimated amount bought

  1. WisdomTree Tr97717Y477
    +$178.4MNew
  2. WisdomTree Tr97717W547
    +$96.2MNew
  3. Victory Portfolios II92647X764
    +$75.1MAdded
  4. iShares Tr464288653
    +$9.96MAdded
  5. Victory Portfolios II92647X830
    +$5.48MAdded

Largest weight increases

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

  1. WisdomTree Tr97717Y477
    +16.15 pp0.0% → 16.1%
  2. WisdomTree Tr97717W547
    +8.71 pp0.0% → 8.7%
  3. Victory Portfolios II92647X764
    +6.80 pp0.1% → 6.9%
  4. Invesco Exchange Traded FD T46137V464
    +0.47 pp0.6% → 1.0%
  5. iShares S&P 500 Growth ETF464287309
    +0.40 pp2.1% → 2.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Growth ETF922908736
    −$160.0MReduced
  2. American Centy ETF Tr025072885
    −$77.5MReduced
  3. Cambria ETF Tr132061706
    −$44.7MReduced
  4. iShares Core S&P 500 ETF464287200
    −$10.4MReduced
  5. Cambria ETF Tr132061201
    −$3.91MReduced

Largest weight decreases

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

  1. Vanguard Morningstar Growth ETF922908736
    −14.32 pp14.8% → 0.5%
  2. American Centy ETF Tr025072885
    −7.59 pp8.6% → 1.0%
  3. Cambria ETF Tr132061706
    −4.26 pp8.1% → 3.8%
  4. iShares Core S&P 500 ETF464287200
    −1.03 pp1.7% → 0.7%
  5. Cambria ETF Tr132061201
    −0.44 pp0.7% → 0.2%

Metrics

13F metrics for Q2 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.10B
+$160.0M (+16.9%) vs. prior quarter
Positions
209
−5 vs. prior quarter
Top 10 concentration
66.5%
Top 10 as share of value
Turnover
31.7%
Q2 2025, one quarter
Average holding period
7.7 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

18 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.10B (Q2 2025)

Q1 2021: $462.7MQ2 2021: $519.4MQ3 2021: $513.0MQ4 2021: $585.7MQ1 2022: $431.6MQ2 2022: $342.1MQ3 2022: $474.7MQ4 2022: $529.7MQ1 2023: $671.3MQ2 2023: $823.8MQ3 2023: $822.6MQ4 2023: $871.5MQ1 2024: $968.6MQ2 2024: $989.5MQ3 2024: $1.04BQ4 2024: $1.07BQ1 2025: $944.7MQ2 2025: $1.10B
Q1 2021Q2 2025
13F filings of Smith Anglin Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Jul 17, 2025209$1.10BWisdomTree TrVictory Portfolios IIWisdomTree Trvs. Q1 2025SEC
Q1 2025Apr 10, 2025214$944.7MVanguard Morningstar Growth ETFVictory Portfolios IIiShares Core Dividend Growth ETFvs. Q4 2024SEC
Q4 2024Jan 14, 2025214$1.07BVanguard Morningstar Growth ETFiShares Core Dividend Growth ETFAmerican Centy ETF Trvs. Q3 2024SEC
Q3 2024Oct 7, 2024208$1.04BVanguard Morningstar Growth ETFiShares Core Dividend Growth ETFAmerican Centy ETF Trvs. Q2 2024SEC
Q2 2024Jul 11, 2024198$989.5MiShares S&P 500 Growth ETFiShares Core S&P 500 ETFJohn Hancock Exchange Tradedvs. Q1 2024SEC
Q1 2024Apr 24, 2024201$968.6MiShares S&P 500 Growth ETFiShares Core S&P 500 ETFJohn Hancock Exchange Tradedvs. Q4 2023SEC
Q4 2023Jan 17, 2024185$871.5MiShares S&P 500 Growth ETFiShares Core S&P 500 ETFiShares S&P 500 Value ETFvs. Q3 2023SEC
Q3 2023Oct 11, 2023175$822.6MiShares S&P 500 Growth ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q2 2023SEC
Q2 2023Jul 10, 2023170$823.8MiShares S&P 500 Growth ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q1 2023SEC
Q1 2023Apr 11, 2023167$671.3MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares S&P 500 Value ETFvs. Q4 2022SEC
Q4 2022Feb 14, 2023154$529.7MiShares Core S&P Mid-Cap ETFiShares S&P 500 Value ETFiShares S&P 500 Growth ETFvs. Q3 2022SEC
Q3 2022Oct 24, 2022140$474.7MiShares Core S&P Mid-Cap ETFiShares S&P 500 Growth ETFiShares S&P 500 Value ETFvs. Q2 2022SEC
Q2 2022Jul 25, 2022130$342.1MiShares Core S&P Mid-Cap ETFiShares S&P 500 Value ETFiShares U S ETF Trvs. Q1 2022SEC
Q1 2022May 16, 2022137$431.6MiShares Core S&P Mid-Cap ETFiShares U S ETF TriShares S&P 500 Value ETFvs. Q4 2021SEC
Q4 2021Jan 31, 2022146$585.7MiShares Core S&P Mid-Cap ETFiShares U S ETF TriShares Core S&P 500 ETFvs. Q3 2021SEC
Q3 2021Oct 20, 2021135$513.0MiShares Core S&P Mid-Cap ETFCambria ETF TriShares Core S&P 500 ETFvs. Q2 2021SEC
Q2 2021Aug 10, 2021142$519.4MiShares Core S&P Mid-Cap ETFiShares Core MSCI Eafe ETFCambria ETF Trvs. Q1 2021SEC
Q1 2021Jul 8, 2021139$462.7MiShares Core S&P Mid-Cap ETFiShares Core MSCI Eafe ETFCambria ETF Tr–SEC