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Livermore
Livermore
ZHEN

Financial Management Network Inc

SEC CIK
0001844831
Latest filing
Aug 6, 2026

The latest 13F from Financial Management Network Inc covers Q2 2026 (filed Aug 6, 2026): 211 long positions worth $696.8M. The top 10 holdings make up 41.6% of the portfolio, and the largest is iShares Core S&P 500 ETF at 9.9%. 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
24
Est. +$13.9M
Added
93
Est. +$47.6M
Reduced
83
Est. −$56.3M
Sold out
4
Est. −$1.41M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    9.9%$68.8M
  2. American Centy ETF Tr025072877
    5.1%$35.5M
  3. American Centy ETF Tr025072349
    4.3%$29.7M
  4. iShares Core S&P Mid-Cap ETF464287507
    4.2%$29.1M
  5. iShares Core S&P Small Cap ETF464287804
    3.9%$27.0M

Share of portfolio

Top 5 holdings and the other 206 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF9.9%
  2. American Centy ETF Tr5.1%
  3. American Centy ETF Tr4.3%
  4. iShares Core S&P Mid-Cap ETF4.2%
  5. iShares Core S&P Small Cap ETF3.9%
  6. Other 206 positions72.7%

Biggest buys

New and added positions, by estimated amount bought

  1. American Centy ETF Tr025072349
    +$18.3MAdded
  2. VanEck ETF Trust92189H748
    +$4.10MAdded
  3. COSTCostco Wholesale Corp
    +$3.79MNewHistory
  4. American Centy ETF Tr025072133
    +$3.35MAdded
  5. Vanguard Scottsdale FDS92206C409
    +$1.94MAdded

Largest weight increases

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

  1. American Centy ETF Tr025072349
    +2.66 pp1.6% → 4.3%
  2. COSTCostco Wholesale Corp
    +0.54 pp0.0% → 0.5%History
  3. VanEck ETF Trust92189H748
    +0.53 pp1.0% → 1.6%
  4. American Centy ETF Tr025072133
    +0.47 pp1.7% → 2.2%
  5. iShares Core S&P 500 ETF464287200
    +0.42 pp9.4% → 9.9%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. VanEck Morningstar Wide Moat ETF92189F643
    −$35.0MReduced
  2. VanEck ETF Trust92189H730
    −$6.86MReduced
  3. Capital Grp Fixed Incm ETF T14020Y409
    −$2.79MReduced
  4. NVDANVIDIA Corp
    −$1.48MReducedHistory
  5. Harbor ETF Trust41151J406
    −$969.3KReduced

Largest weight decreases

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

  1. VanEck Morningstar Wide Moat ETF92189F643
    −4.98 pp7.1% → 2.2%
  2. VanEck ETF Trust92189H730
    −0.94 pp2.6% → 1.7%
  3. Capital Grp Fixed Incm ETF T14020Y409
    −0.48 pp1.1% → 0.6%
  4. Pacer FDS Tr69374H709
    −0.23 pp1.6% → 1.4%
  5. IAUiShares Gold Trust
    −0.21 pp0.9% → 0.7%History

Metrics

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

Portfolio value
$696.8M
+$43.9M (+6.7%) vs. prior quarter
Positions
211
+20 vs. prior quarter
Top 10 concentration
41.6%
Top 10 as share of value
Turnover
8.5%
Q2 2026, one quarter
Average holding period
15.4 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 $696.8M (Q2 2026)

Q1 2021: $193.0MQ2 2021: $196.5MQ3 2021: $197.4MQ4 2021: $218.1MQ1 2022: $196.9MQ2 2022: $188.1MQ3 2022: $202.6MQ4 2022: $224.8MQ1 2023: $249.0MQ2 2023: $286.9MQ3 2023: $302.1MQ4 2023: $342.6MQ1 2024: $396.8MQ2 2024: $416.7MQ3 2024: $478.1MQ4 2024: $481.1MQ1 2025: $444.4MQ2 2025: $558.1MQ3 2025: $606.4MQ4 2025: $632.0MQ1 2026: $653.0MQ2 2026: $696.8M
Q1 2021Q2 2026
13F filings of Financial Management Network Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 2026211$696.8MiShares Core S&P 500 ETFAmerican Centy ETF TrAmerican Centy ETF Trvs. Q1 2026SEC
Q1 2026Apr 17, 2026191$653.0MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFAmerican Centy ETF Trvs. Q4 2025SEC
Q4 2025Jan 8, 2026186$632.0MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFAmerican Centy ETF Trvs. Q3 2025SEC
Q3 2025Oct 29, 2025186$606.4MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFiShares Core S&P Mid-Cap ETFvs. Q2 2025SEC
Q2 2025Jul 10, 2025176$558.1MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFiShares Core S&P Mid-Cap ETFvs. Q1 2025SEC
Q1 2025May 7, 2025153$444.4MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFiShares Core S&P Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 3, 2025160$481.1MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFiShares Core S&P Mid-Cap ETFvs. Q3 2024SEC
Q3 2024Oct 23, 2024172$478.1MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFVanEck ETF Trustvs. Q2 2024SEC
Q2 2024Jul 22, 2024149$416.7MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFVanEck ETF Trustvs. Q1 2024SEC
Q1 2024Apr 22, 2024154$396.8MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFPacer US Small Cap Cash Cows ETFvs. Q4 2023SEC
Q4 2023Jan 22, 2024136$342.6MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFPacer US Small Cap Cash Cows ETFvs. Q3 2023SEC
Q3 2023Oct 24, 2023145$302.1MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q2 2023SEC
Q2 2023Jul 28, 2023140$286.9MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q1 2023SEC
Q1 2023Apr 21, 2023126$249.0MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q4 2022SEC
Q4 2022Feb 10, 2023131$224.8MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q3 2022SEC
Q3 2022Nov 3, 2022132$202.6MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q2 2022SEC
Q2 2022Jul 11, 2022123$188.1MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q1 2022SEC
Q1 2022Apr 21, 2022115$196.9MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFAAPLvs. Q4 2021SEC
Q4 2021Jan 19, 2022130$218.1MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q3 2021SEC
Q3 2021Oct 13, 2021128$197.4MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q2 2021SEC
Q2 2021Jul 20, 2021124$196.5MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q1 2021SEC
Q1 2021May 6, 2021126$193.0MVanEck Morningstar Wide Moat ETFiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETF–SEC