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Livermore
Livermore
ZHEN

Financial Services Advisory Inc

SEC CIK
0001731221
Latest filing
Aug 3, 2026

The latest 13F from Financial Services Advisory Inc covers Q2 2026 (filed Aug 3, 2026): 69 long positions worth $399.3M. The top 10 holdings make up 61.4% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 12.5%. 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
25
Est. +$108.0M
Added
30
Est. +$89.1M
Reduced
12
Est. −$6.71M
Sold out
14
Est. −$26.9M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    12.5%$49.8MHistory
  2. iShares Core S&P 500 ETF464287200
    10.7%$42.8M
  3. iShares Core S&P Small Cap ETF464287804
    9.1%$36.4M
  4. iShares Tr464287291
    6.6%$26.5M
  5. Invesco Exchange Traded FD T46137V357
    4.7%$18.9M

Share of portfolio

Top 5 holdings and the other 64 positions, by share of portfolio value

  1. SPY12.5%
  2. iShares Core S&P 500 ETF10.7%
  3. iShares Core S&P Small Cap ETF9.1%
  4. iShares Tr6.6%
  5. Invesco Exchange Traded FD T4.7%
  6. Other 64 positions56.3%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P Small Cap ETF464287804
    +$29.5MAdded
  2. iShares Tr464287291
    +$26.5MNew
  3. iShares Core S&P 500 ETF464287200
    +$21.4MAdded
  4. SPYSPDR S&P 500 ETF Trust
    +$16.1MAddedHistory
  5. Legg Mason ETF Invt52468L505
    +$13.2MNew

Largest weight increases

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

  1. iShares Tr464287291
    +6.64 pp0.0% → 6.6%
  2. iShares Core S&P Small Cap ETF464287804
    +6.36 pp2.8% → 9.1%
  3. Legg Mason ETF Invt52468L505
    +3.30 pp0.0% → 3.3%
  4. Invesco Nasdaq 100 ETF46138G649
    +2.92 pp0.0% → 2.9%
  5. Invesco Exch Traded FD Tr II46138G664
    +2.71 pp0.0% → 2.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ProShares Tr74349Y753
    −$12.0MSold out
  2. iShares S&P 100 ETF464287101
    −$4.16MReduced
  3. Cambria ETF Tr132061862
    −$3.11MSold out
  4. Harbor ETF Trust41151J505
    −$2.82MSold out
  5. DJPBarclays Bank PLC
    −$1.76MSold outHistory

Largest weight decreases

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

  1. ProShares Tr74349Y753
    −5.71 pp5.7% → 0.0%
  2. iShares S&P 100 ETF464287101
    −2.36 pp3.3% → 1.0%
  3. Cambria ETF Tr132061862
    −1.48 pp1.5% → 0.0%
  4. Harbor ETF Trust41151J505
    −1.34 pp1.3% → 0.0%
  5. DJPBarclays Bank PLC
    −0.84 pp0.8% → 0.0%History

Metrics

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

Portfolio value
$399.3M
+$189.0M (+89.9%) vs. prior quarter
Positions
69
+11 vs. prior quarter
Top 10 concentration
61.4%
Top 10 as share of value
Turnover
11.0%
Q2 2026, one quarter
Average holding period
7.8 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 $426.2M (Q4 2024)

Q1 2021: $220.2MQ2 2021: $234.1MQ3 2021: $294.9MQ4 2021: $313.3MQ1 2022: $64.4MQ2 2022: $24.5MQ3 2022: $27.4MQ4 2022: $154.9MQ1 2023: $152.6MQ2 2023: $241.9MQ3 2023: $204.7MQ4 2023: $349.7MQ1 2024: $402.1MQ2 2024: $365.2MQ3 2024: $413.6MQ4 2024: $426.2MQ1 2025: $264.4MQ2 2025: $207.1MQ3 2025: $259.5MQ4 2025: $278.3MQ1 2026: $210.3MQ2 2026: $399.3M
Q1 2021Q2 2026
13F filings of Financial Services Advisory Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 3, 202669$399.3MSPYiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFvs. Q1 2026SEC
Q1 2026Apr 27, 202658$210.3MSPYiShares Core S&P 500 ETFiShares MSCI Acwi Ex U.S. ETFvs. Q4 2025SEC
Q4 2025Jan 30, 202664$278.3MSPYiShares MSCI Acwi Ex U.S. ETFiShares Core S&P 500 ETFvs. Q3 2025SEC
Q3 2025Nov 4, 202566$259.5MSPYiShares Core S&P 500 ETFCapital Group Dividend Valuevs. Q2 2025SEC
Q2 2025Jul 21, 202548$207.1MiShares Core S&P 500 ETFCapital Group Dividend ValueSPYvs. Q1 2025SEC
Q1 2025May 12, 202545$264.4MiShares S&P 100 ETFJ P Morgan Exchange Traded FSPYvs. Q4 2024SEC
Q4 2024Feb 6, 202553$426.2MSPYiShares S&P 100 ETFVanguard S&P 500 ETFvs. Q3 2024SEC
Q3 2024Oct 31, 202455$413.6MSPYCapital Group Dividend ValueiShares S&P 100 ETFvs. Q2 2024SEC
Q2 2024Jul 30, 202455$365.2MSPYiShares S&P 100 ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q1 2024SEC
Q1 2024May 6, 202454$402.1MSPYDIAiShares S&P 100 ETFvs. Q4 2023SEC
Q4 2023Feb 9, 202455$349.7MSPYDIASchwab U.S. Broad Market ETFvs. Q3 2023SEC
Q3 2023Oct 17, 202346$204.7MVanguard S&P 500 ETFJ P Morgan Exchange Traded FSPYvs. Q2 2023SEC
Q2 2023Jul 24, 202344$241.9MVanguard S&P 500 ETFSPYJ P Morgan Exchange Traded Fvs. Q1 2023SEC
Q1 2023Apr 18, 202333$152.6MJ P Morgan Exchange Traded FSPYVanguard S&P 500 ETFvs. Q4 2022SEC
Q4 2022Feb 15, 2023Amended31$154.9MiShares TrJ P Morgan Exchange Traded FSPYvs. Q3 2022SEC
Q3 2022Nov 3, 202212$27.4MWisdomTree TrPacer Trendpilot US Large Cap ETFState Street Health Care Select Sector SPDR ETFvs. Q2 2022SEC
Q2 2022Aug 8, 202211$24.5MWisdomTree TrPacer Trendpilot US Large Cap ETFState Street Health Care Select Sector SPDR ETFvs. Q1 2022SEC
Q1 2022May 12, 202226$64.4MInvesco Exch Traded FD Tr IIVanEck Morningstar Wide Moat ETFSPYvs. Q4 2021SEC
Q4 2021Feb 8, 202244$313.3MiShares TrInvesco S&P 500 Quality ETFVanguard Morningstar Growth ETFvs. Q3 2021SEC
Q3 2021Oct 21, 202146$294.9MiShares TrInvesco S&P 500 Quality ETFiShares Trvs. Q2 2021SEC
Q2 2021Jul 14, 202144$234.1MiShares TriShares TrVanEck Morningstar Wide Moat ETFvs. Q1 2021SEC
Q1 2021Apr 9, 202134$220.2MiShares TrSPYiShares Tr–SEC