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Livermore
Livermore
ZHEN

Merit Financial Group, LLC

SEC CIK
0001621225
Latest filing
Jul 20, 2026

The latest 13F from Merit Financial Group, LLC covers Q2 2026 (filed Jul 20, 2026): 2,318 long positions worth $16.1B. The top 10 holdings make up 20.4% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 2.6%. Livermore has 24 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
317
Est. +$211.9M
Added
1188
Est. +$1.63B
Reduced
766
Est. −$711.6M
Sold out
107
Est. −$57.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    2.6%$426.4M
  2. iShares Core S&P U.S. Growth ETF464287671
    2.4%$393.6M
  3. AAPLApple Inc.
    2.2%$352.9MHistory
  4. Gmo ETF Trust90139K100
    2.2%$351.7M
  5. iShares Core S&P US Value ETF464287663
    2.0%$327.9M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard World FD921910816
    +$81.7MAddedConverted for a 5-for-1 split
  2. BlackRock ETF Trust09290C103
    +$79.4MAdded
  3. AAPLApple Inc.
    +$67.9MAddedHistory
  4. Vanguard World FD921910840
    +$51.6MAdded
  5. BlackRock ETF Trust09290C665
    +$46.1MNew

Largest weight increases

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

  1. Vanguard World FD921910816
    +0.51 pp1.5% → 2.0%
  2. BlackRock ETF Trust09290C103
    +0.46 pp1.5% → 1.9%
  3. AAPLApple Inc.
    +0.33 pp1.9% → 2.2%History
  4. BlackRock ETF Trust09290C665
    +0.29 pp0.0% → 0.3%
  5. MUMicron Technology Inc
    +0.27 pp0.1% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares MSCI USA Quality Factor ETF46432F339
    −$72.1MReduced
  2. iShares Tr464288877
    −$64.8MReduced
  3. iShares Tr46435G672
    −$41.2MReduced
  4. iShares MSCI USA Momentum Factor ETF46432F396
    −$24.3MReduced
  5. BlackRock ETF Trust09290C806
    −$21.7MReduced

Largest weight decreases

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

  1. iShares Tr464288877
    −0.59 pp1.3% → 0.7%
  2. iShares MSCI USA Quality Factor ETF46432F339
    −0.48 pp0.7% → 0.2%
  3. iShares Tr46435G672
    −0.31 pp0.3% → <0.1%
  4. IAUiShares Gold Trust
    −0.18 pp0.4% → 0.2%History
  5. BlackRock ETF Trust09290C806
    −0.14 pp0.6% → 0.4%

Metrics

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

Portfolio value
$16.1B
+$2.65B (+19.7%) vs. prior quarter
Positions
2,318
+210 vs. prior quarter
Top 10 concentration
20.4%
Top 10 as share of value
Turnover
5.2%
Q2 2026, one quarter
Average holding period
14.9 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 $16.1B (Q2 2026)

Q1 2021: $955.9MQ2 2021: $1.06BQ3 2021: $955.4MQ4 2021: $1.02BQ1 2022: $1.65BQ2 2022: $3.15BQ3 2022: $2.30BQ4 2022: $2.76BQ1 2023: $2.73BQ2 2023: $3.08BQ3 2023: $3.05BQ4 2023: $3.29BQ1 2024: $4.19BQ2 2024: $4.53BQ3 2024: $4.47BQ4 2024: $5.56BQ1 2025: $6.67BQ2 2025: $8.96BQ3 2025: $10.9BQ4 2025: $12.5BQ1 2026: $13.4BQ2 2026: $16.1B
Q1 2021Q2 2026
13F filings of Merit Financial Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 20, 2026Amended2,318$16.1BVanguard Morningstar Growth ETFiShares Core S&P U.S. Growth ETFAAPLvs. Q1 2026SEC
Q1 2026Apr 15, 20262,108$13.4BVanguard Morningstar Growth ETFiShares Core S&P U.S. Growth ETFGmo ETF Trustvs. Q4 2025SEC
Q4 2025Jan 26, 20261,941$12.5BVanguard Morningstar Growth ETFGmo ETF TrustiShares Core S&P U.S. Growth ETFvs. Q3 2025SEC
Q3 2025Nov 7, 2025Amended1,782$10.9BVanguard Morningstar Growth ETFGmo ETF TrustiShares Core S&P US Value ETFvs. Q2 2025SEC
Q2 2025Jul 22, 20251,694$8.96BVanguard Morningstar Growth ETFGmo ETF TrustiShares Core S&P U.S. Growth ETFvs. Q1 2025SEC
Q1 2025Apr 9, 20251,396$6.67BiShares Core S&P US Value ETFVanguard S&P 500 ETFVanguard Morningstar Growth ETFvs. Q4 2024SEC
Q4 2024Jan 15, 20251,147$5.56BVanguard Morningstar Growth ETFVanguard S&P 500 ETFiShares Core S&P US Value ETFvs. Q3 2024SEC
Q3 2024Oct 17, 2024826$4.47BVanguard S&P 500 ETFiShares Core S&P US Value ETFVanguard Morningstar Growth ETFvs. Q2 2024SEC
Q2 2024Aug 13, 2024913$4.53BVanguard S&P 500 ETFVanguard Morningstar Growth ETFiShares Core S&P US Value ETFvs. Q1 2024SEC
Q1 2024May 6, 2024862$4.19BVanguard S&P 500 ETFVanguard Morningstar Growth ETFiShares Core S&P US Value ETFvs. Q4 2023SEC
Q4 2023Feb 6, 2024773$3.29BVanguard S&P 500 ETFSchwab US Dividend Equity ETFVanguard Morningstar Growth ETFvs. Q3 2023SEC
Q3 2023Nov 7, 2023737$3.05BVanguard S&P 500 ETFSchwab US Dividend Equity ETFVanguard Morningstar Growth ETFvs. Q2 2023SEC
Q2 2023Aug 1, 2023739$3.08BVanguard S&P 500 ETFSchwab US Dividend Equity ETFVanguard Morningstar Growth ETFvs. Q1 2023SEC
Q1 2023Apr 24, 2023628$2.73BSchwab US Dividend Equity ETFVanguard S&P 500 ETFVanguard Morningstar Growth ETFvs. Q4 2022SEC
Q4 2022Jan 13, 2023694$2.76BSchwab US Dividend Equity ETFVanguard Morningstar Growth ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2022SEC
Q3 2022Oct 31, 2022575$2.30BSchwab US Dividend Equity ETFVanguard Morningstar Growth ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2022SEC
Q2 2022Aug 8, 2022575$3.15BUPSVanguard Morningstar Growth ETFBRK.Avs. Q1 2022SEC
Q1 2022May 13, 2022380$1.65BVanguard Morningstar Growth ETFVanguard Morningstar Total Stock Market ETFUPSvs. Q4 2021SEC
Q4 2021Feb 14, 2022275$1.02BVanguard Morningstar Growth ETFVanguard Morningstar Total Stock Market ETFARK Innovation ETFvs. Q3 2021SEC
Q3 2021Oct 27, 2021264$955.4MVanguard Morningstar Growth ETFVanguard Morningstar Total Stock Market ETFARK Innovation ETFvs. Q2 2021SEC
Q2 2021Aug 16, 2021263$1.06BVanguard Morningstar Growth ETFVanguard Consumer Staples ETFARK Innovation ETFvs. Q1 2021SEC
Q1 2021May 18, 2021234$955.9MVanguard Morningstar Growth ETFVanguard Consumer Staples ETFARK Innovation ETF–SEC