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Livermore
Livermore
ZHEN

Quadratic Capital Management LLC

SEC CIK
0001697722
Latest filing
Jul 10, 2026

The latest 13F from Quadratic Capital Management LLC covers Q2 2026 (filed Jul 10, 2026): 2 long positions worth $250.1M. The top 10 holdings make up 100.0% of the portfolio, and the largest is Schwab US Tips ETF at 85.3%. Livermore has 22 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
1
Est. +$30.9M
Reduced
1
Est. −$162.4M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. Schwab US Tips ETF808524870
    85.3%$213.4M
  2. Vanguard Long-Term Treasury ETF92206C847
    14.7%$36.7M

Share of portfolio

Each position's share of portfolio value

  1. Schwab US Tips ETF85.3%
  2. Vanguard Long-Term Treasury ETF14.7%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Long-Term Treasury ETF92206C847
    +$30.9MAdded

Largest weight increases

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

  1. Vanguard Long-Term Treasury ETF92206C847
    +13.16 pp1.5% → 14.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab US Tips ETF808524870
    −$162.4MReduced

Largest weight decreases

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

  1. Schwab US Tips ETF808524870
    −13.16 pp98.5% → 85.3%

Metrics

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

Portfolio value
$250.1M
−$133.1M (−34.7%) vs. prior quarter
Positions
2
0 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
9.8%
Q2 2026, one quarter
Average holding period
21.7 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 $3.08B (Q2 2021)

Q1 2021: $2.20BQ2 2021: $3.08BQ3 2021: $3.01BQ4 2021: $2.13BQ1 2022: $1.61BQ2 2022: $1.37BQ3 2022: $1.01BQ4 2022: $850.0MQ1 2023: $699.6MQ2 2023: $683.4MQ3 2023: $754.6MQ4 2023: $800.9MQ1 2024: $663.2MQ2 2024: $546.5MQ3 2024: $631.4MQ4 2024: $377.3MQ1 2025: $388.3MQ2 2025: $245.2MQ3 2025: $323.1MQ4 2025: $391.2MQ1 2026: $383.3MQ2 2026: $250.1M
Q1 2021Q2 2026
13F filings of Quadratic Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 10, 20262$250.1MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q1 2026SEC
Q1 2026Apr 10, 20262$383.3MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q4 2025SEC
Q4 2025Jan 13, 20262$391.2MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q3 2025SEC
Q3 2025Oct 10, 20252$323.1MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q2 2025SEC
Q2 2025Jul 11, 20252$245.2MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q1 2025SEC
Q1 2025Apr 10, 20252$388.3MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q4 2024SEC
Q4 2024Jan 13, 20252$377.3MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q3 2024SEC
Q3 2024Oct 10, 20242$631.4MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q2 2024SEC
Q2 2024Jul 12, 20242$546.5MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q1 2024SEC
Q1 2024Apr 10, 20242$663.2MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q4 2023SEC
Q4 2023Jan 10, 20242$800.9MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q3 2023SEC
Q3 2023Oct 10, 20232$754.6MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q2 2023SEC
Q2 2023Jul 10, 20232$683.4MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q1 2023SEC
Q1 2023Apr 12, 20232$699.6MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q4 2022SEC
Q4 2022Jan 9, 20232$850.0MSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q3 2022SEC
Q3 2022Oct 12, 20222$1.01BSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q2 2022SEC
Q2 2022Jul 11, 20222$1.37BSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q1 2022SEC
Q1 2022Apr 7, 20222$1.61BSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q4 2021SEC
Q4 2021Jan 12, 20222$2.13BSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q3 2021SEC
Q3 2021Oct 7, 20212$3.01BSchwab US Tips ETFVanguard Long-Term Treasury ETFvs. Q2 2021SEC
Q2 2021Jul 13, 20211$3.08BSchwab US Tips ETFvs. Q1 2021SEC
Q1 2021Apr 13, 20211$2.20BSchwab US Tips ETF–SEC