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Livermore
Livermore
ZHEN

SMI Advisory Services, LLC

SEC CIK
0001609008
Latest filing
Jul 9, 2026

The latest 13F from SMI Advisory Services, LLC covers Q2 2026 (filed Jul 9, 2026): 62 long positions worth $617.0M. The top 10 holdings make up 83.1% of the portfolio, and the largest is ETF Opportunities Trust at 36.6%. Livermore has 21 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. +$47.8M
Added
25
Est. +$56.7M
Reduced
20
Est. −$85.1M
Sold out
6
Est. −$43.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. ETF Opportunities Trust26923N397
    36.6%$226.1M
  2. ETF Opportunities Trust26923N512
    11.0%$68.1M
  3. iShares Russell 1000 Value ETF464287598
    10.2%$63.2M
  4. iShares Inc46434G764
    4.5%$27.5M
  5. iShares Tr464288521
    4.1%$25.3M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Inc46434G764
    +$26.3MAdded
  2. iShares Tr464288521
    +$25.3MNew
  3. State Street SPDR S&P Semiconductor ETF78464A862
    +$20.6MNew
  4. Schwab International Equity ETF808524805
    +$13.2MAdded
  5. State Street Technology Select Sector SPDR ETF81369Y803
    +$7.27MAdded

Largest weight increases

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

  1. iShares Inc46434G764
    +4.30 pp0.2% → 4.5%
  2. iShares Tr464288521
    +4.10 pp0.0% → 4.1%
  3. State Street SPDR S&P Semiconductor ETF78464A862
    +3.34 pp0.0% → 3.3%
  4. Schwab International Equity ETF808524805
    +2.15 pp0.1% → 2.3%
  5. ETF Opportunities Trust26923N512
    +1.47 pp9.6% → 11.0%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GLDSPDR Gold Trust
    −$43.2MReducedHistory
  2. Uscf ETF Tr90290T809
    −$22.8MReduced
  3. Cambria ETF Tr132061409
    −$21.2MSold out
  4. SPDR Series Trust78464A755
    −$19.9MSold out
  5. PHYSSprott Physical Gold Trust
    −$7.56MReducedHistory

Largest weight decreases

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

  1. GLDSPDR Gold Trust
    −7.99 pp8.2% → 0.2%History
  2. Uscf ETF Tr90290T809
    −3.83 pp3.9% → 0.1%
  3. Cambria ETF Tr132061409
    −3.50 pp3.5% → 0.0%
  4. SPDR Series Trust78464A755
    −3.28 pp3.3% → 0.0%
  5. PHYSSprott Physical Gold Trust
    −1.45 pp1.8% → 0.4%History

Metrics

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

Portfolio value
$617.0M
+$10.1M (+1.7%) vs. prior quarter
Positions
62
+2 vs. prior quarter
Top 10 concentration
83.1%
Top 10 as share of value
Turnover
17.1%
Q2 2026, one quarter
Average holding period
5.2 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

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

Peak $617.0M (Q2 2026)

Q1 2021: $220.3MQ2 2021: $233.3MQ3 2021: $223.3MQ4 2021: $262.9MQ1 2022: $285.9MQ2 2022: $280.2MQ3 2022: $307.5MQ4 2022: $308.6MQ1 2023: $298.7MQ3 2023: $273.9MQ4 2023: $395.3MQ1 2024: $356.3MQ2 2024: $404.4MQ3 2024: $451.7MQ4 2024: $433.4MQ1 2025: $442.2MQ2 2025: $517.5MQ3 2025: $528.6MQ4 2025: $580.3MQ1 2026: $606.9MQ2 2026: $617.0M
Q1 2021Q2 2026
13F filings of SMI Advisory Services, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 202662$617.0METF Opportunities TrustETF Opportunities TrustiShares Russell 1000 Value ETFvs. Q1 2026SEC
Q1 2026Apr 7, 202660$606.9METF Opportunities TrustiShares Russell 1000 Value ETFETF Opportunities Trustvs. Q4 2025SEC
Q4 2025Jan 13, 202659$580.3METF Opportunities TrustETF Opportunities TrustiShares Russell 1000 Value ETFvs. Q3 2025SEC
Q3 2025Oct 6, 202556$528.6METF Opportunities TrustETF Opportunities TrustGLDvs. Q2 2025SEC
Q2 2025Jul 18, 202551$517.5METF Opportunities TrustETF Opportunities TrustGLDvs. Q1 2025SEC
Q1 2025Apr 10, 202543$442.2METF Opportunities TrustETF Opportunities TrustInvesco Exch TRD SLF Idx FDvs. Q4 2024SEC
Q4 2024Jan 17, 202554$433.4MInvesco Nasdaq 100 ETFETF Opportunities TrustInvesco Exch TRD SLF Idx FDvs. Q3 2024SEC
Q3 2024Oct 7, 202456$451.7METF Opportunities TrustInvesco Exch TRD SLF Idx FDInvesco Nasdaq 100 ETFvs. Q2 2024SEC
Q2 2024Jul 15, 202459$404.4MInvesco Exch TRD SLF Idx FDInvesco Nasdaq 100 ETFSPYvs. Q1 2024SEC
Q1 2024Apr 15, 202454$356.3MSPYVanguard Intermediate-Term Bond ETFVanguard Short-Term Bond ETFvs. Q4 2023SEC
Q4 2023Jan 12, 202458$395.3MSPYInnovator ETFs TrustiShares Iboxx $ Investment Grade Corporate Bond ETFvs. Q3 2023SEC
Q3 2023Nov 14, 202343$273.9MSPYPHYSVanguard Malvern FDS–SEC
Q1 2023Apr 11, 202342$298.7MState Street SPDR Bloomberg 1-3 Month T-Bill ETFPHYSiShares Trvs. Q4 2022SEC
Q4 2022Jan 3, 202341$308.6MState Street SPDR Bloomberg 1-3 Month T-Bill ETFiShares TrPHYSvs. Q3 2022SEC
Q3 2022Oct 14, 202236$307.5MState Street SPDR Bloomberg 1-3 Month T-Bill ETFiShares TrPHYSvs. Q2 2022SEC
Q2 2022Aug 25, 202239$280.2MState Street SPDR Bloomberg 1-3 Month T-Bill ETFiShares TrPHYSvs. Q1 2022SEC
Q1 2022Apr 28, 202235$285.9MVanguard Real Estate ETFPHYSVanguard Malvern FDSvs. Q4 2021SEC
Q4 2021Jan 19, 202234$262.9MVanguard Real Estate ETFiShares MSCI Eafe ETFVanguard Malvern FDSvs. Q3 2021SEC
Q3 2021Oct 12, 202127$223.3MiShares MSCI Eafe ETFVanguard Real Estate ETFVanguard Malvern FDSvs. Q2 2021SEC
Q2 2021Jul 23, 202125$233.3MVanguard Real Estate ETFiShares MSCI Eafe ETFVanguard Malvern FDSvs. Q1 2021SEC
Q1 2021May 12, 202126$220.3MiShares MSCI Eafe ETFVanguard Real Estate ETFARK Innovation ETF–SEC