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Livermore
Livermore
ZHEN

Madrona Financial Services, LLC

SEC CIK
0001578370
Latest filing
Jul 17, 2026

The latest 13F from Madrona Financial Services, LLC covers Q2 2026 (filed Jul 17, 2026): 143 long positions worth $542.6M. The top 10 holdings make up 52.5% of the portfolio, and the largest is iShares Core S&P 500 ETF at 11.7%. Livermore has 23 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
25
Est. +$10.0M
Added
54
Est. +$13.9M
Reduced
33
Est. −$6.32M
Sold out
5
Est. −$4.99M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    11.7%$63.5M
  2. Invesco QQQ Trust Series I46090E103
    8.7%$47.2M
  3. BlackRock ETF Trust09290C103
    5.2%$28.4M
  4. Defiance Quantum ETF26922A420
    4.2%$22.9M
  5. iShares MSCI Acwi Ex U.S. ETF464288240
    4.1%$22.4M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$2.57MAdded
  2. First Tr Exchng Traded FD VI33740U356
    +$1.32MNew
  3. Global X Uranium ETF37954Y871
    +$1.16MAdded
  4. Pacer US Cash Cows 100 ETF69374H881
    +$1.11MAdded
  5. iShares MSCI Acwi Ex U.S. ETF464288240
    +$955.7KAdded

Largest weight increases

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

  1. Defiance Quantum ETF26922A420
    +0.99 pp3.2% → 4.2%
  2. VanEck Semiconductor ETF92189F676
    +0.81 pp1.8% → 2.6%
  3. Global X FDS37954Y632
    +0.71 pp3.3% → 4.0%
  4. State Street SPDR S&P Biotech ETF78464A870
    +0.29 pp3.7% → 4.0%
  5. First Tr Exchange Traded FD33738R605
    +0.28 pp3.3% → 3.6%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SILASila Realty Trust, Inc.
    −$4.04MSold outHistory
  2. MSFTMicrosoft Corp
    −$1.31MReducedHistory
  3. Invesco QQQ Trust Series I46090E103
    −$947.0KReduced
  4. Vanguard Morningstar Total Stock Market ETF922908769
    −$827.0KReduced
  5. INTCIntel Corp
    −$646.6KReducedHistory

Largest weight decreases

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

  1. SILASila Realty Trust, Inc.
    −0.89 pp0.9% → 0.0%History
  2. MSFTMicrosoft Corp
    −0.84 pp4.0% → 3.1%History
  3. Invesco Exchange Traded FD T46137V472
    −0.30 pp2.9% → 2.6%
  4. Vanguard Morningstar Total Stock Market ETF922908769
    −0.18 pp1.0% → 0.8%
  5. BPREBluerock Private Real Estate Fund
    −0.16 pp0.4% → 0.3%History

Metrics

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

Portfolio value
$542.6M
+$85.7M (+18.8%) vs. prior quarter
Positions
143
+20 vs. prior quarter
Top 10 concentration
52.5%
Top 10 as share of value
Turnover
2.3%
Q2 2026, one quarter
Average holding period
13.6 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 (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 $542.6M (Q2 2026)

Q1 2021: $194.9MQ2 2021: $194.7MQ3 2021: $210.7MQ4 2021: $236.6MQ1 2022: $204.1MQ2 2022: $170.7MQ3 2022: $161.9MQ4 2022: $174.7MQ1 2023: $186.4MQ2 2023: $204.5MQ3 2023: $219.0MQ4 2023: $253.5MQ1 2024: $287.2MQ2 2024: $325.5MQ3 2024: $359.8MQ4 2024: $367.2MQ1 2025: $363.7MQ2 2025: $417.0MQ3 2025: $453.3MQ4 2025: $468.0MQ1 2026: $456.9MQ2 2026: $542.6M
Q1 2021Q2 2026
13F filings of Madrona Financial Services, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 17, 2026143$542.6MiShares Core S&P 500 ETFInvesco QQQ Trust Series IBlackRock ETF Trustvs. Q1 2026SEC
Q1 2026Apr 14, 2026123$456.9MiShares Core S&P 500 ETFInvesco QQQ Trust Series IBlackRock ETF Trustvs. Q4 2025SEC
Q4 2025Jan 22, 2026128$468.0MiShares Core S&P 500 ETFInvesco QQQ Trust Series IBlackRock ETF Trustvs. Q3 2025SEC
Q3 2025Oct 22, 2025121$453.3MiShares Core S&P 500 ETFInvesco QQQ Trust Series IMSFTvs. Q2 2025SEC
Q2 2025Jul 18, 2025114$417.0MiShares Core S&P 500 ETFInvesco QQQ Trust Series IMSFTvs. Q1 2025SEC
Q1 2025Apr 23, 2025109$363.7MiShares Core S&P 500 ETFInvesco QQQ Trust Series IMSFTvs. Q4 2024SEC
Q4 2024Jan 17, 2025110$367.2MInvesco QQQ Trust Series IiShares Core S&P 500 ETFFirst Tr Exchange Traded FDvs. Q3 2024SEC
Q3 2024Oct 17, 2024113$359.8MInvesco QQQ Trust Series INorthern LTS FD Tr IVFirst Tr Exchange Traded FDvs. Q2 2024SEC
Q2 2024Jul 19, 2024100$325.5MInvesco QQQ Trust Series INorthern LTS FD Tr IVFirst Tr Exchange Traded FDvs. Q1 2024SEC
Q1 2024Apr 19, 202499$287.2MFirst Tr Exchange Traded FDNorthern LTS FD Tr IViShares Core S&P 500 ETFvs. Q4 2023SEC
Q4 2023Jan 25, 202484$253.5MFirst Tr Exchange Traded FDNorthern LTS FD Tr IViShares Core S&P 500 ETFvs. Q3 2023SEC
Q3 2023Jan 25, 2024Amended94$219.0MiShares Core S&P 500 ETFNorthern LTS FD Tr IVFirst Tr Exchange Traded FDvs. Q2 2023SEC
Q2 2023Jul 18, 202394$204.5MiShares TrInvesco QQQ Trust Series ISPYvs. Q1 2023SEC
Q1 2023May 11, 202385$186.4MiShares TrSPYMSFTvs. Q4 2022SEC
Q4 2022Jan 18, 202378$174.7MiShares TrSPYInvesco QQQ Trust Series Ivs. Q3 2022SEC
Q3 2022Oct 14, 202273$161.9MiShares TrSPYInvesco QQQ Trust Series Ivs. Q2 2022SEC
Q2 2022Jul 27, 202277$170.7MiShares TrSPYInvesco QQQ Trust Series Ivs. Q1 2022SEC
Q1 2022Apr 20, 202278$204.1MiShares TrSPYInvesco QQQ Trust Series Ivs. Q4 2021SEC
Q4 2021Feb 10, 202274$236.6MiShares TriShares MSCI USA Momentum Factor ETFInvesco QQQ Trust Series Ivs. Q3 2021SEC
Q3 2021Nov 8, 202164$210.7MiShares TriShares MSCI USA Momentum Factor ETFInvesco QQQ Trust Series Ivs. Q2 2021SEC
Q2 2021Aug 2, 202158$194.7MiShares TriShares MSCI USA Momentum Factor ETFVanguard Index FDSvs. Q1 2021SEC
Q1 2021May 4, 202159$194.9MiShares TriShares MSCI USA Momentum Factor ETFVanguard Index FDS–SEC