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Livermore
Livermore
ZHEN

G&S Capital LLC

SEC CIK
0001731448
Latest filing
Jul 10, 2026

The latest 13F from G&S Capital LLC covers Q2 2026 (filed Jul 10, 2026): 152 long positions worth $344.5M. The top 10 holdings make up 29.8% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 5.8%. 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
26
Est. +$40.5M
Added
71
Est. +$24.0M
Reduced
50
Est. −$32.2M
Sold out
7
Est. −$9.44M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    5.8%$20.1MHistory
  2. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    4.0%$13.6M
  3. Vanguard Morningstar Value ETF922908744
    3.9%$13.3M
  4. SPDR Series Trust78464A805
    3.7%$12.6M
  5. Invesco QQQ Trust Series I46090E103
    3.1%$10.8M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares S&P 500 Growth ETF464287309
    +$4.67MNew
  2. First Tr Exchange-Traded FD33739Q408
    +$4.52MAdded
  3. iShares S&P 500 Value ETF464287408
    +$3.60MNew
  4. GEVGE Vernova Inc.
    +$3.57MNewHistory
  5. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +$3.41MAdded

Largest weight increases

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

  1. iShares S&P 500 Growth ETF464287309
    +1.36 pp0.0% → 1.4%
  2. First Tr Exchange-Traded FD33739Q408
    +1.23 pp0.5% → 1.7%
  3. iShares S&P 500 Value ETF464287408
    +1.05 pp0.0% → 1.0%
  4. GEVGE Vernova Inc.
    +1.04 pp0.0% → 1.0%History
  5. KEYSKeysight Technologies, Inc.
    +0.95 pp0.0% → 1.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. DELLDell Technologies Inc.
    −$7.20MReducedHistory
  2. MUMicron Technology Inc
    −$4.73MReducedHistory
  3. First Tr Exchange-Traded FD33739Q705
    −$3.32MReduced
  4. AXPAmerican Express Co
    −$3.00MReducedHistory
  5. HIGHartford Insurance Group, Inc.
    −$2.78MSold outHistory

Largest weight decreases

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

  1. DOWDow Inc.
    −1.25 pp1.5% → 0.2%History
  2. First Tr Exchange-Traded FD33739Q705
    −1.14 pp1.3% → 0.1%
  3. PGProcter & Gamble Co
    −1.01 pp1.6% → 0.6%History
  4. HIGHartford Insurance Group, Inc.
    −0.98 pp1.0% → 0.0%History
  5. AXPAmerican Express Co
    −0.96 pp1.1% → 0.2%History

Metrics

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

Portfolio value
$344.5M
+$59.9M (+21.1%) vs. prior quarter
Positions
152
+19 vs. prior quarter
Top 10 concentration
29.8%
Top 10 as share of value
Turnover
13.2%
Q2 2026, one quarter
Average holding period
13.2 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 $344.5M (Q2 2026)

Q1 2021: $171.8MQ2 2021: $190.7MQ3 2021: $181.8MQ4 2021: $200.7MQ1 2022: $187.0MQ2 2022: $169.5MQ3 2022: $188.4MQ4 2022: $225.8MQ1 2023: $226.1MQ2 2023: $208.0MQ3 2023: $196.2MQ4 2023: $210.5MQ1 2024: $224.3MQ2 2024: $230.1MQ3 2024: $238.5MQ4 2024: $242.2MQ1 2025: $235.5MQ2 2025: $252.4MQ3 2025: $270.5MQ4 2025: $283.0MQ1 2026: $284.6MQ2 2026: $344.5M
Q1 2021Q2 2026
13F filings of G&S Capital LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 10, 2026152$344.5MSPYState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Morningstar Value ETFvs. Q1 2026SEC
Q1 2026Apr 7, 2026133$284.6MSPYVanguard Morningstar Value ETFSPDR Series Trustvs. Q4 2025SEC
Q4 2025Jan 28, 2026132$283.0MSPYSPDR Series TrustVanguard Morningstar Value ETFvs. Q3 2025SEC
Q3 2025Oct 23, 2025129$270.5MSPYSPDR Series TrustVanguard Morningstar Value ETFvs. Q2 2025SEC
Q2 2025Jul 17, 2025123$252.4MSPYSPDR Series TrustVanguard Morningstar Value ETFvs. Q1 2025SEC
Q1 2025Apr 25, 2025124$235.5MSPYSPDR Series TrustVanguard Morningstar Value ETFvs. Q4 2024SEC
Q4 2024Jan 30, 2025119$242.2MSPYState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series Trustvs. Q3 2024SEC
Q3 2024Oct 16, 2024119$238.5MState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPYSPDR Series Trustvs. Q2 2024SEC
Q2 2024Jul 30, 2024119$230.1MSPYState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series Trustvs. Q1 2024SEC
Q1 2024Apr 15, 2024121$224.3MState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPYSPDR Series Trustvs. Q4 2023SEC
Q4 2023Jan 29, 2024114$210.5MSPYState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series Trustvs. Q3 2023SEC
Q3 2023Oct 12, 2023115$196.2MSPYSPDR Series TrustState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q2 2023SEC
Q2 2023Jul 26, 2023117$208.0MSPYState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series Trustvs. Q1 2023SEC
Q1 2023Apr 21, 2023108$226.1MState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPYiShares Trvs. Q4 2022SEC
Q4 2022Jan 23, 2023105$225.8MGoldman Sachs ETF TriShares TrSPYvs. Q3 2022SEC
Q3 2022Oct 24, 202292$188.4MGoldman Sachs ETF TriShares TrSPYvs. Q2 2022SEC
Q2 2022Jul 21, 202288$169.5MSPYiShares TrSPDR Series Trustvs. Q1 2022SEC
Q1 2022Apr 15, 2022105$187.0MSPYSPDR Series TrustMDYvs. Q4 2021SEC
Q4 2021Jan 20, 2022105$200.7MSPYSPDR Series TrustFirst Tr Exch Traded FD IIIvs. Q3 2021SEC
Q3 2021Oct 19, 2021102$181.8MSPYFirst Tr Exch Traded FD IIISPDR Series Trustvs. Q2 2021SEC
Q2 2021Jul 22, 2021101$190.7MSPYFirst Tr Exch Traded FD IIISPDR Series Trustvs. Q1 2021SEC
Q1 2021Apr 15, 2021104$171.8MSPYFirst Tr Exch Traded FD IIISPDR Series Trust–SEC