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Livermore
Livermore
ZHEN

Physicians Financial Services, Inc.

SEC CIK
0001665518
Latest filing
Jul 21, 2026

The latest 13F from Physicians Financial Services, Inc. covers Q2 2026 (filed Jul 21, 2026): 106 long positions worth $400.7M. The top 10 holdings make up 52.7% of the portfolio, and the largest is Apple Inc. (AAPL) at 14.8%. 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
3
Est. +$1.06M
Added
16
Est. +$1.62M
Reduced
42
Est. −$7.83M
Sold out
1
Est. −$232.0K

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    14.8%$59.2MHistory
  2. GOOGLAlphabet Inc.
    6.8%$27.3MHistory
  3. AMZNAmazon Com Inc
    6.0%$24.2MHistory
  4. NVDANVIDIA Corp
    5.2%$20.9MHistory
  5. CATCaterpillar Inc
    5.1%$20.3MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. AMZNAmazon Com Inc
    +$631.8KAddedHistory
  2. PANWPalo Alto Networks Inc
    +$468.8KAddedHistory
  3. FDXFFedEx Freight Holding Company, Inc.
    +$463.0KNewHistory
  4. GLWCorning Inc
    +$368.0KNewHistory
  5. LLYEli Lilly & Co
    +$266.3KAddedHistory

Largest weight increases

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

  1. AMZNAmazon Com Inc
    +0.40 pp5.6% → 6.0%History
  2. LLYEli Lilly & Co
    +0.30 pp1.3% → 1.6%History
  3. PANWPalo Alto Networks Inc
    +0.21 pp0.1% → 0.3%History
  4. FDXFFedEx Freight Holding Company, Inc.
    +0.12 pp0.0% → 0.1%History
  5. GLWCorning Inc
    +0.09 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. NVDANVIDIA Corp
    −$6.32MReducedHistory
  2. AAPLApple Inc.
    −$460.4KReducedHistory
  3. HONHoneywell International Inc
    −$232.0KSold outHistory
  4. CVXChevron Corp
    −$132.9KReducedHistory
  5. CATCaterpillar Inc
    −$127.8KReducedHistory

Largest weight decreases

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

  1. NVDANVIDIA Corp
    −1.28 pp6.5% → 5.2%History
  2. WMTWalmart Inc.
    −0.92 pp5.4% → 4.4%History
  3. CVXChevron Corp
    −0.63 pp2.2% → 1.6%History
  4. COSTCostco Wholesale Corp
    −0.29 pp1.9% → 1.6%History
  5. LOWLowes Companies Inc
    −0.23 pp1.5% → 1.2%History

Metrics

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

Portfolio value
$400.7M
+$35.5M (+9.7%) vs. prior quarter
Positions
106
+2 vs. prior quarter
Top 10 concentration
52.7%
Top 10 as share of value
Turnover
0.7%
Q2 2026, one quarter
Average holding period
20.7 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

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

Peak $400.7M (Q2 2026)

Q1 2021: $233.4MQ2 2021: $243.8MQ3 2021: $246.9MQ4 2021: $270.4MQ1 2022: $261.9MQ2 2022: $224.7MQ3 2022: $206.9MQ4 2022: $222.1MQ1 2023: $236.5MQ2 2023: $254.7MQ3 2023: $244.4MQ4 2023: $263.9MQ1 2024: $284.0MQ2 2024: $307.5MQ3 2024: $321.6MQ4 2024: $329.4MQ1 2025: $307.4MQ2 2025: $335.7MQ3 2025: $366.3MQ4 2025: $372.7MQ1 2026: $365.2MQ2 2026: $400.7M
Q1 2021Q2 2026
13F filings of Physicians Financial Services, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 21, 2026106$400.7MAAPLGOOGLAMZNvs. Q1 2026SEC
Q1 2026Apr 15, 2026104$365.2MAAPLNVDAGOOGLvs. Q4 2025SEC
Q4 2025Jan 21, 2026107$372.7MAAPLNVDAGOOGLvs. Q3 2025SEC
Q3 2025Oct 21, 2025108$366.3MAAPLNVDAAMZNvs. Q2 2025SEC
Q2 2025Aug 14, 2025107$335.7MAAPLNVDAAMZNvs. Q1 2025SEC
Q1 2025May 7, 2025Amended107$307.4MAAPLAMZNMSFTvs. Q4 2024SEC
Q4 2024Feb 3, 2025105$329.4MAAPLAMZNNVDAvs. Q3 2024SEC
Q3 2024Oct 31, 2024107$321.6MAAPLMSFTNVDAvs. Q2 2024SEC
Q2 2024Aug 14, 2024108$307.5MAAPLMSFTNVDAvs. Q1 2024SEC
Q1 2024May 10, 2024103$284.0MAAPLMSFTAMZNvs. Q4 2023SEC
Q4 2023Jan 26, 2024103$263.9MAAPLMSFTAMZNvs. Q3 2023SEC
Q3 2023Oct 31, 2023105$244.4MAAPLMSFTAMZNvs. Q2 2023SEC
Q2 2023Jul 26, 2023108$254.7MAAPLMSFTAMZNvs. Q1 2023SEC
Q1 2023May 17, 2023107$236.5MAAPLMSFTAMZNvs. Q4 2022SEC
Q4 2022Feb 9, 2023109$222.1MAAPLMSFTAMZNvs. Q3 2022SEC
Q3 2022Oct 19, 2022109$206.9MAAPLAMZNMSFTvs. Q2 2022SEC
Q2 2022Aug 17, 2022115$224.7MAAPLMSFTAMZNvs. Q1 2022SEC
Q1 2022Apr 22, 2022117$261.9MAAPLAMZNMSFTvs. Q4 2021SEC
Q4 2021Feb 2, 2022116$270.4MAAPLAMZNMSFTvs. Q3 2021SEC
Q3 2021Oct 27, 2021115$246.9MAAPLAMZNMSFTvs. Q2 2021SEC
Q2 2021Jul 27, 2021111$243.8MAAPLAMZNMSFTvs. Q1 2021SEC
Q1 2021May 21, 2021116$233.4MAAPLAMZNMSFT–SEC