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Livermore
Livermore
ZHEN

Verger Capital Management LLC

SEC CIK
0001627417
Latest filing
Jul 28, 2026

The latest 13F from Verger Capital Management LLC covers Q2 2026 (filed Jul 28, 2026): 13 long positions worth $341.4M. The top 10 holdings make up 98.9% of the portfolio, and the largest is iShares Tr at 25.8%. 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
0
Added
5
Est. +$3.89M
Reduced
8
Est. −$20.7M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Tr464288257
    25.8%$88.1M
  2. iShares Core U.S. Aggregate Bond ETF464287226
    17.2%$58.7M
  3. SPYSPDR S&P 500 ETF Trust
    14.5%$49.5MHistory
  4. iShares Core S&P 500 ETF464287200
    9.5%$32.5M
  5. iShares MSCI Eafe ETF464287465
    9.1%$30.9M

Share of portfolio

Top 5 holdings and the other 8 positions, by share of portfolio value

  1. iShares Tr25.8%
  2. iShares Core U.S. Aggregate Bond ETF17.2%
  3. SPY14.5%
  4. iShares Core S&P 500 ETF9.5%
  5. iShares MSCI Eafe ETF9.1%
  6. Other 8 positions23.9%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tips Bond ETF464287176
    +$2.73MAdded
  2. IAUiShares Gold Trust
    +$813.0KAddedHistory
  3. iShares Tr464287341
    +$265.8KAdded
  4. VanEck ETF Trust92189F106
    +$82.6KAdded
  5. Invesco Exchange Traded FD T46137V357
    +$7.02KAdded

Largest weight increases

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

  1. iShares Tips Bond ETF464287176
    +0.75 pp3.2% → 4.0%
  2. Invesco Exchange Traded FD T46137V357
    +0.05 pp0.5% → 0.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core U.S. Aggregate Bond ETF464287226
    −$10.5MReduced
  2. iShares Tr464288257
    −$6.74MReduced
  3. iShares Core S&P 500 ETF464287200
    −$1.53MReduced
  4. iShares MSCI Eafe ETF464287465
    −$909.4KReduced
  5. SPYSPDR S&P 500 ETF Trust
    −$521.2KReducedHistory

Largest weight decreases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    −3.26 pp20.4% → 17.2%
  2. iShares Tr464288661
    −0.04 pp0.5% → 0.4%
  3. iShares Inc46434G822
    −0.02 pp0.2% → 0.1%

Metrics

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

Portfolio value
$341.4M
+$2.16M (+0.6%) vs. prior quarter
Positions
13
0 vs. prior quarter
Top 10 concentration
98.9%
Top 10 as share of value
Turnover
1.1%
Q2 2026, one quarter
Average holding period
21.8 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 $341.4M (Q2 2026)

Q1 2021: $116.3MQ2 2021: $122.1MQ3 2021: $122.6MQ4 2021: $129.8MQ1 2022: $127.5MQ2 2022: $134.4MQ3 2022: $151.6MQ4 2022: $178.3MQ1 2023: $185.4MQ2 2023: $161.1MQ3 2023: $113.1MQ4 2023: $179.2MQ1 2024: $195.7MQ2 2024: $196.2MQ3 2024: $202.1MQ4 2024: $200.7MQ1 2025: $227.3MQ2 2025: $254.1MQ3 2025: $308.1MQ4 2025: $337.8MQ1 2026: $339.2MQ2 2026: $341.4M
Q1 2021Q2 2026
13F filings of Verger Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 202613$341.4MiShares TriShares Core U.S. Aggregate Bond ETFSPYvs. Q1 2026SEC
Q1 2026May 13, 202613$339.2MiShares TriShares Core U.S. Aggregate Bond ETFSPYvs. Q4 2025SEC
Q4 2025Feb 2, 202614$337.8MiShares TriShares Core U.S. Aggregate Bond ETFSPYvs. Q3 2025SEC
Q3 2025Oct 22, 202514$308.1MiShares TriShares Core U.S. Aggregate Bond ETFSPYvs. Q2 2025SEC
Q2 2025Jul 24, 202514$254.1MiShares TriShares Core U.S. Aggregate Bond ETFSPYvs. Q1 2025SEC
Q1 2025May 14, 202514$227.3MiShares Core U.S. Aggregate Bond ETFSPYiShares Trvs. Q4 2024SEC
Q4 2024Feb 3, 202514$200.7MiShares Core U.S. Aggregate Bond ETFSPYiShares Trvs. Q3 2024SEC
Q3 2024Nov 13, 202414$202.1MiShares Core U.S. Aggregate Bond ETFSPYiShares Trvs. Q2 2024SEC
Q2 2024Jul 19, 202413$196.2MiShares TrSPYiShares Core S&P 500 ETFvs. Q1 2024SEC
Q1 2024May 13, 202413$195.7MiShares Core S&P 500 ETFSPYiShares Trvs. Q4 2023SEC
Q4 2023Jan 30, 202413$179.2MiShares Core S&P 500 ETFiShares TrSPYvs. Q3 2023SEC
Q3 2023Nov 13, 202313$113.1MiShares Core S&P 500 ETFiShares TriShares Trvs. Q2 2023SEC
Q2 2023Jul 28, 202312$161.1MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Trvs. Q1 2023SEC
Q1 2023May 4, 202332$185.4MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Trvs. Q4 2022SEC
Q4 2022Feb 10, 202334$178.3MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Trvs. Q3 2022SEC
Q3 2022Oct 28, 202227$151.6MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Trvs. Q2 2022SEC
Q2 2022Oct 28, 2022Amended29$134.4MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2022SEC
Q1 2022May 4, 202212$127.5MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Trvs. Q4 2021SEC
Q4 2021Feb 2, 202212$129.8MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Trvs. Q3 2021SEC
Q3 2021Oct 29, 202112$122.6MiShares Core S&P 500 ETFiShares MSCI Eafe ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2021SEC
Q2 2021Aug 4, 202112$122.1MiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFiShares MSCI Eafe ETFvs. Q1 2021SEC
Q1 2021Apr 30, 202112$116.3MiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFiShares MSCI Eafe ETF–SEC