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Livermore
Livermore
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Change Path, LLC

SEC CIK
0001739728
Latest filing
Aug 13, 2026

The latest 13F from Change Path, LLC covers Q2 2026 (filed Aug 13, 2026): 1,189 long positions worth $4.63B. The top 10 holdings make up 20.8% of the portfolio, and the largest is Apple Inc. (AAPL) at 2.6%. 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
131
Est. +$102.1M
Added
464
Est. +$461.9M
Reduced
565
Est. −$510.7M
Sold out
113
Est. −$88.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    2.6%$122.0MHistory
  2. Vanguard Ftse Developed Markets ETF921943858
    2.4%$113.3M
  3. Vanguard Morningstar Value ETF922908744
    2.4%$111.6M
  4. Vanguard Morningstar Growth ETF922908736
    2.2%$100.3M
  5. NVDANVIDIA Corp
    2.1%$97.0MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Growth ETF922908736
    +$83.9MAdded
  2. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$55.9MAdded
  3. BlackRock ETF Trust09290C665
    +$21.0MNew
  4. Vanguard High Dividend Yield Index ETF921946406
    +$7.63MAdded
  5. Vanguard Information Technology ETF92204A702
    +$7.21MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +1.25 pp0.6% → 1.8%
  2. BlackRock ETF Trust09290C665
    +0.45 pp0.0% → 0.5%
  3. Invesco QQQ Trust Series I46090E103
    +0.42 pp1.6% → 2.0%
  4. MUMicron Technology Inc
    +0.31 pp0.1% → 0.5%History
  5. AAPLApple Inc.
    +0.24 pp2.4% → 2.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Strategy Shs86280R787
    −$41.9MReduced
  2. iShares MSCI USA Quality Factor ETF46432F339
    −$29.7MReduced
  3. AMZNAmazon Com Inc
    −$28.9MReducedHistory
  4. American Centy ETF Tr025072604
    −$19.5MReduced
  5. Zacks Trust98888G105
    −$16.4MSold out

Largest weight decreases

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

  1. Strategy Shs86280R787
    −0.83 pp0.9% → <0.1%
  2. iShares MSCI USA Quality Factor ETF46432F339
    −0.60 pp0.7% → 0.1%
  3. AMZNAmazon Com Inc
    −0.52 pp1.7% → 1.1%History
  4. Zacks Trust98888G105
    −0.38 pp0.4% → 0.0%
  5. American Centy ETF Tr025072604
    −0.35 pp0.7% → 0.3%

Metrics

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

Portfolio value
$4.63B
+$327.1M (+7.6%) vs. prior quarter
Positions
1,189
+18 vs. prior quarter
Top 10 concentration
20.8%
Top 10 as share of value
Turnover
12.6%
Q2 2026, one quarter
Average holding period
16.4 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 $4.63B (Q2 2026)

Q1 2021: $1.32BQ2 2021: $1.62BQ3 2021: $1.70BQ4 2021: $2.03BQ1 2022: $1.93BQ2 2022: $1.85BQ3 2022: $1.66BQ4 2022: $1.82BQ1 2023: $2.03BQ2 2023: $4.01BQ3 2023: $1.39BQ4 2023: $1.56BQ1 2024: $2.51BQ2 2024: $1.97BQ3 2024: $2.94BQ4 2024: $3.26BQ1 2025: $3.34BQ2 2025: $3.82BQ3 2025: $4.10BQ4 2025: $4.12BQ1 2026: $4.31BQ2 2026: $4.63B
Q1 2021Q2 2026
13F filings of Change Path, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 20261,189$4.63BAAPLVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFvs. Q1 2026SEC
Q1 2026May 15, 20261,171$4.31BAAPLVanguard Ftse Developed Markets ETFVanguard Morningstar Value ETFvs. Q4 2025SEC
Q4 2025Feb 13, 20261,170$4.12BVanguard Ftse Developed Markets ETFAAPLVanguard Morningstar Value ETFvs. Q3 2025SEC
Q3 2025Nov 13, 20251,145$4.10BNeos ETF TrustVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFvs. Q2 2025SEC
Q2 2025Aug 12, 20251,109$3.82BNeos ETF TrustVanguard Ftse Developed Markets ETFVanguard Morningstar Growth ETFvs. Q1 2025SEC
Q1 2025May 14, 20251,056$3.34BVanguard Morningstar Value ETFNeos ETF TrustVanguard Ftse Developed Markets ETFvs. Q4 2024SEC
Q4 2024Feb 13, 20251,061$3.26BiShares TrVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q3 2024SEC
Q3 2024Nov 13, 2024942$2.94BiShares TrVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q2 2024SEC
Q2 2024Aug 14, 2024761$1.97BVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2024SEC
Q1 2024May 14, 2024873$2.51BiShares TrVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q4 2023SEC
Q4 2023Feb 9, 2024619$1.56BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFState Street SPDR Portfolio S&P 500 ETFvs. Q3 2023SEC
Q3 2023Oct 17, 2023567$1.39BiShares TrVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q2 2023SEC
Q2 2023Aug 16, 2023Amended882$4.01BiShares TrVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2023SECSEC
Q1 2023May 15, 2023789$2.03BiShares TrVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2022SEC
Q4 2022Feb 15, 2023731$1.82BiShares TrVanguard Morningstar Value ETFiShares Trvs. Q3 2022SEC
Q3 2022Nov 15, 2022693$1.66BiShares TriShares TriShares U.S. Treasury Bond ETFvs. Q2 2022SEC
Q2 2022Aug 12, 2022711$1.85BGOOGLiShares TriShares Trvs. Q1 2022SEC
Q1 2022May 13, 2022729$1.93BiShares TriShares TrVanguard Morningstar Value ETFvs. Q4 2021SEC
Q4 2021Feb 15, 2022745$2.03BSPYiShares TriShares Trvs. Q3 2021SEC
Q3 2021Nov 16, 2021687$1.70BSPYVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2021SEC
Q2 2021Aug 13, 2021669$1.62BSPYVanguard Morningstar Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2021SEC
Q1 2021May 17, 2021561$1.32BPIMCO Active Bond Exchange-Traded FundSPYInvesco Exch TRD SLF Idx FD–SEC