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Livermore
Livermore
ZHEN

Covenant Asset Management, LLC

SEC CIK
0001697717
Latest filing
Jul 20, 2026

The latest 13F from Covenant Asset Management, LLC covers Q2 2026 (filed Jul 20, 2026): 145 long positions worth $562.1M. The top 10 holdings make up 39.8% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 8.4%. 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
12
Est. +$14.4M
Added
25
Est. +$6.25M
Reduced
77
Est. −$20.2M
Sold out
8
Est. −$11.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    8.4%$47.2MHistory
  2. MSFTMicrosoft Corp
    4.4%$24.6MHistory
  3. AAPLApple Inc.
    4.1%$23.3MHistory
  4. KLACKLA Corp
    3.9%$21.9MHistory
  5. AVGOBroadcom Inc.
    3.6%$20.3MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. SOFISoFi Technologies, Inc.
    +$7.76MNewHistory
  2. MSMorgan Stanley
    +$4.83MAddedHistory
  3. APHAmphenol Corp
    +$2.93MNewHistory
  4. CRMSalesforce, Inc.
    +$949.7KNewHistory
  5. HONHoneywell International Inc
    +$406.0KNewHistory

Largest weight increases

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

  1. SOFISoFi Technologies, Inc.
    +1.38 pp0.0% → 1.4%History
  2. MSMorgan Stanley
    +0.92 pp0.6% → 1.5%History
  3. APHAmphenol Corp
    +0.52 pp0.0% → 0.5%History
  4. AGXArgan Inc
    +0.27 pp1.0% → 1.2%History
  5. CRMSalesforce, Inc.
    +0.17 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPOTSpotify Technology S.A.
    −$4.82MSold outHistory
  2. SFStifel Financial Corp
    −$4.44MSold outHistory
  3. CBOECboe Global Markets, Inc.
    −$2.71MReducedHistory
  4. NVDANVIDIA Corp
    −$2.15MReducedHistory
  5. PLTRPalantir Technologies Inc.
    −$2.09MReducedHistory

Largest weight decreases

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

  1. SPOTSpotify Technology S.A.
    −0.99 pp1.0% → 0.0%History
  2. SFStifel Financial Corp
    −0.91 pp0.9% → 0.0%History
  3. NFLXNetflix Inc
    −0.76 pp2.0% → 1.3%History
  4. CBOECboe Global Markets, Inc.
    −0.73 pp1.0% → 0.3%History
  5. MSFTMicrosoft Corp
    −0.70 pp5.1% → 4.4%History

Metrics

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

Portfolio value
$562.1M
+$74.3M (+15.2%) vs. prior quarter
Positions
145
+4 vs. prior quarter
Top 10 concentration
39.8%
Top 10 as share of value
Turnover
3.9%
Q2 2026, one quarter
Average holding period
15.7 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 $562.1M (Q2 2026)

Q1 2021: $297.1MQ2 2021: $335.0MQ3 2021: $335.5MQ4 2021: $371.0MQ1 2022: $332.4MQ2 2022: $259.9MQ3 2022: $248.4MQ4 2022: $279.2MQ1 2023: $306.7MQ2 2023: $339.3MQ3 2023: $324.4MQ4 2023: $359.3MQ1 2024: $411.7MQ2 2024: $444.8MQ3 2024: $451.0MQ4 2024: $450.8MQ1 2025: $397.7MQ2 2025: $486.6MQ3 2025: $529.7MQ4 2025: $518.9MQ1 2026: $487.8MQ2 2026: $562.1M
Q1 2021Q2 2026
13F filings of Covenant Asset Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 20, 2026145$562.1MNVDAMSFTAAPLvs. Q1 2026SEC
Q1 2026Apr 14, 2026141$487.8MNVDAMSFTAAPLvs. Q4 2025SEC
Q4 2025Jan 30, 2026140$518.9MNVDAMSFTAVGOvs. Q3 2025SEC
Q3 2025Oct 30, 2025141$529.7MNVDAMSFTAVGOvs. Q2 2025SEC
Q2 2025Jul 17, 2025140$486.6MNVDAMSFTAVGOvs. Q1 2025SEC
Q1 2025May 5, 2025134$397.7MNVDAMSFTAAPLvs. Q4 2024SEC
Q4 2024Jan 30, 2025136$450.8MNVDAMSFTAAPLvs. Q3 2024SEC
Q3 2024Nov 12, 2024141$451.0MNVDAMSFTAAPLvs. Q2 2024SEC
Q2 2024Aug 2, 2024142$444.8MNVDAMSFTAAPLvs. Q1 2024SEC
Q1 2024Apr 23, 2024134$411.7MMSFTNVDAAAPLvs. Q4 2023SEC
Q4 2023Jan 22, 2024136$359.3MMSFTAAPLNVDAvs. Q3 2023SEC
Q3 2023Oct 31, 2023136$324.4MMSFTAAPLNVDAvs. Q2 2023SEC
Q2 2023Jul 12, 2023136$339.3MMSFTAAPLNVDAvs. Q1 2023SEC
Q1 2023Apr 27, 2023143$306.7MMSFTAAPLAMZNvs. Q4 2022SEC
Q4 2022Jan 24, 2023142$279.2MMSFTAAPLAMZNvs. Q3 2022SEC
Q3 2022Nov 3, 2022131$248.4MMSFTAAPLAMZNvs. Q2 2022SEC
Q2 2022Jul 21, 2022133$259.9MMSFTAAPLAMZNvs. Q1 2022SEC
Q1 2022Apr 29, 2022135$332.4MMSFTAAPLAMZNvs. Q4 2021SEC
Q4 2021Jan 26, 2022131$371.0MMSFTAAPLTTDvs. Q3 2021SEC
Q3 2021Oct 27, 2021Amended129$335.5MMSFTAAPLSHOPvs. Q2 2021SEC
Q2 2021Jul 21, 2021131$335.0MMSFTAAPLSHOPvs. Q1 2021SEC
Q1 2021Apr 19, 2021133$297.1MMSFTAAPLAMZN–SEC