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Livermore
Livermore
ZHEN

Lutz Financial Services LLC

SEC CIK
0001737112
Latest filing
Aug 5, 2026

The latest 13F from Lutz Financial Services LLC covers Q2 2026 (filed Aug 5, 2026): 112 long positions worth $1.64B. The top 10 holdings make up 59.1% of the portfolio, and the largest is Vanguard S&P 500 ETF at 10.7%. 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
12
Est. +$3.12M
Added
39
Est. +$34.1M
Reduced
42
Est. −$3.71M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    10.7%$176.0M
  2. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    9.2%$151.8M
  3. iShares Core S&P Mid-Cap ETF464287507
    7.6%$124.6M
  4. Vanguard Total Bond Market ETF921937835
    6.6%$108.5M
  5. Vanguard Mun BD FDS922907746
    5.1%$84.2M

Share of portfolio

Top 5 holdings and the other 107 positions, by share of portfolio value

  1. Vanguard S&P 500 ETF10.7%
  2. State Street SPDR Portfolio S&P 500 Value ETF9.2%
  3. iShares Core S&P Mid-Cap ETF7.6%
  4. Vanguard Total Bond Market ETF6.6%
  5. Vanguard Mun BD FDS5.1%
  6. Other 107 positions60.7%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Mun BD FDS922907746
    +$4.77MAdded
  2. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +$3.78MAdded
  3. Vanguard Total Bond Market ETF921937835
    +$3.47MAdded
  4. Vanguard Scottsdale FDS92206C409
    +$3.19MAdded
  5. Vanguard S&P 500 ETF922908363
    +$2.93MAdded

Largest weight increases

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

  1. Vanguard S&P 500 ETF922908363
    +0.60 pp10.1% → 10.7%
  2. iShares Core S&P Mid-Cap ETF464287507
    +0.33 pp7.3% → 7.6%
  3. State Street SPDR S&P 400 Mid Cap Value ETF78464A839
    +0.18 pp4.6% → 4.8%
  4. iShares Core S&P Small Cap ETF464287804
    +0.16 pp1.6% → 1.8%
  5. Dimensional ETF Trust25434V831
    +0.12 pp1.4% → 1.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares S&P 500 Value ETF464287408
    −$265.4KReduced
  2. American Centy ETF Tr025072703
    −$251.9KReduced
  3. SPYSPDR S&P 500 ETF Trust
    −$250.2KReducedHistory
  4. State Street SPDR S&P 600 Small Cap Value ETF78464A300
    −$237.8KReduced
  5. iShares Tr464288158
    −$224.7KReduced

Largest weight decreases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    −0.14 pp1.4% → 1.3%
  2. iShares Tips Bond ETF464287176
    −0.10 pp1.0% → 0.9%
  3. American Centy ETF Tr025072703
    −0.06 pp0.8% → 0.8%
  4. iShares S&P 500 Value ETF464287408
    −0.05 pp1.5% → 1.4%
  5. iShares Tr464288158
    −0.05 pp0.4% → 0.4%

Metrics

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

Portfolio value
$1.64B
+$154.2M (+10.4%) vs. prior quarter
Positions
112
+12 vs. prior quarter
Top 10 concentration
59.1%
Top 10 as share of value
Turnover
0.2%
Q2 2026, one quarter
Average holding period
20.4 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 $1.64B (Q2 2026)

Q1 2021: $676.0MQ2 2021: $751.1MQ3 2021: $769.8MQ4 2021: $814.2MQ1 2022: $811.1MQ2 2022: $754.0MQ3 2022: $731.9MQ4 2022: $814.2MQ1 2023: $876.3MQ2 2023: $929.7MQ3 2023: $918.2MQ4 2023: $1.07BQ1 2024: $1.14BQ2 2024: $1.15BQ3 2024: $1.23BQ4 2024: $1.24BQ1 2025: $1.22BQ2 2025: $1.29BQ3 2025: $1.38BQ4 2025: $1.47BQ1 2026: $1.49BQ2 2026: $1.64B
Q1 2021Q2 2026
13F filings of Lutz Financial Services LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 5, 2026112$1.64BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q1 2026SEC
Q1 2026May 4, 2026100$1.49BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q4 2025SEC
Q4 2025Feb 6, 2026102$1.47BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q3 2025SEC
Q3 2025Nov 10, 202596$1.38BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q2 2025SEC
Q2 2025Jul 29, 202597$1.29BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q1 2025SEC
Q1 2025May 7, 202595$1.22BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 4, 202592$1.24BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q3 2024SEC
Q3 2024Oct 30, 202487$1.23BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q2 2024SEC
Q2 2024Jul 29, 202487$1.15BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q1 2024SEC
Q1 2024May 3, 202486$1.14BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q4 2023SEC
Q4 2023Feb 8, 202484$1.07BVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q3 2023SEC
Q3 2023Nov 3, 202381$918.2MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFVanguard Total Bond Market ETFvs. Q2 2023SEC
Q2 2023Aug 7, 202381$929.7MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q1 2023SEC
Q1 2023May 2, 202376$876.3MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q4 2022SEC
Q4 2022Feb 7, 202375$814.2MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q3 2022SEC
Q3 2022Oct 24, 202271$731.9MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q2 2022SEC
Q2 2022Jul 20, 202267$754.0MState Street SPDR Portfolio S&P 500 Value ETFVanguard S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q1 2022SEC
Q1 2022Apr 25, 202260$811.1MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFiShares Core S&P Mid-Cap ETFvs. Q4 2021SEC
Q4 2021Jan 19, 202264$814.2MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFVanguard Total Bond Market ETFvs. Q3 2021SEC
Q3 2021Oct 27, 202163$769.8MVanguard S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFVanguard Total Bond Market ETFvs. Q2 2021SEC
Q2 2021Jul 26, 202162$751.1MState Street SPDR Portfolio S&P 500 Value ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q1 2021SEC
Q1 2021Apr 27, 202157$676.0MState Street SPDR Portfolio S&P 500 Value ETFVanguard S&P 500 ETFVanguard Total Bond Market ETF–SEC