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Livermore
Livermore
ZHEN

CSM Advisors, LLC

SEC CIK
0001863523
Latest filing
Aug 14, 2026

The latest 13F from CSM Advisors, LLC covers Q2 2026 (filed Aug 14, 2026): 406 long positions worth $4.68B. The top 10 holdings make up 24.3% of the portfolio, and the largest is Apple Inc. (AAPL) at 4.3%. 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
49
Est. +$251.4M
Added
158
Est. +$472.5M
Reduced
177
Est. −$533.7M
Sold out
50
Est. −$274.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    4.3%$201.6MHistory
  2. NVDANVIDIA Corp
    3.2%$151.2MHistory
  3. AMZNAmazon Com Inc
    2.7%$125.9MHistory
  4. SPYSPDR S&P 500 ETF Trust
    2.6%$120.8MHistory
  5. GOOGLAlphabet Inc.
    2.5%$114.8MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. AAPLApple Inc.
    +$62.2MAddedHistory
  2. iShares Russell 2000 ETF464287655
    +$53.2MAdded
  3. AMZNAmazon Com Inc
    +$51.0MAddedHistory
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    +$32.1MNew
  5. ELVElevance Health, Inc.
    +$25.9MNewHistory

Largest weight increases

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

  1. AAPLApple Inc.
    +1.30 pp3.0% → 4.3%History
  2. iShares Russell 2000 ETF464287655
    +1.14 pp<0.1% → 1.2%
  3. AMZNAmazon Com Inc
    +1.08 pp1.6% → 2.7%History
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    +0.68 pp0.0% → 0.7%
  5. ELVElevance Health, Inc.
    +0.55 pp0.0% → 0.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MUMicron Technology Inc
    −$83.0MReducedHistory
  2. MSFTMicrosoft Corp
    −$44.1MReducedHistory
  3. North SQ Invstmnts T66263L825
    −$42.6MSold out
  4. CSCOCisco Systems, Inc.
    −$41.1MReducedHistory
  5. QCOMQualcomm Inc
    −$35.8MReducedHistory

Largest weight decreases

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

  1. MSFTMicrosoft Corp
    −1.21 pp2.2% → 1.0%History
  2. North SQ Invstmnts T66263L825
    −1.05 pp1.0% → 0.0%
  3. QCOMQualcomm Inc
    −0.60 pp0.6% → <0.1%History
  4. MDTMedtronic plc
    −0.57 pp0.6% → 0.0%History
  5. iShares Tr464288661
    −0.55 pp0.6% → 0.0%

Metrics

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

Portfolio value
$4.68B
+$613.0M (+15.1%) vs. prior quarter
Positions
406
−1 vs. prior quarter
Top 10 concentration
24.3%
Top 10 as share of value
Turnover
16.5%
Q2 2026, one quarter
Average holding period
10.4 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 $4.68B (Q2 2026)

Q1 2021: $711.0MQ2 2021: $1.49BQ3 2021: $1.34BQ4 2021: $1.49BQ1 2022: $1.44BQ2 2022: $1.08BQ3 2022: $902.3MQ4 2022: $1.04BQ1 2023: $1.16BQ2 2023: $1.32BQ3 2023: $1.15BQ4 2023: $1.39BQ1 2024: $1.52BQ2 2024: $1.42BQ3 2024: $1.53BQ4 2024: $2.14BQ1 2025: $1.83BQ2 2025: $3.43BQ3 2025: $3.58BQ4 2025: $3.68BQ1 2026: $4.07BQ2 2026: $4.68B
Q1 2021Q2 2026
13F filings of CSM Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026406$4.68BAAPLNVDAAMZNvs. Q1 2026SEC
Q1 2026May 15, 2026407$4.07BNVDAAAPLMSFTvs. Q4 2025SEC
Q4 2025Feb 11, 2026399$3.68BInvesco QQQ Trust Series IVanguard Morningstar Growth ETFSPYvs. Q3 2025SEC
Q3 2025Nov 14, 2025402$3.58BInvesco QQQ Trust Series ISPYVanguard Morningstar Growth ETFvs. Q2 2025SEC
Q2 2025Aug 7, 2025377$3.43BInvesco QQQ Trust Series ISPYVanguard Morningstar Growth ETFvs. Q1 2025SEC
Q1 2025May 14, 2025124$1.83BVanguard Morningstar Growth ETFSPYInvesco QQQ Trust Series Ivs. Q4 2024SEC
Q4 2024Feb 14, 2025Amended125$2.14BVanguard Morningstar Growth ETFInvesco QQQ Trust Series ISPYvs. Q3 2024SEC
Q3 2024Nov 14, 2024122$1.53BInvesco QQQ Trust Series IVanguard Morningstar Growth ETFSPYvs. Q2 2024SEC
Q2 2024Aug 14, 2024126$1.42BInvesco QQQ Trust Series ISPYVanguard Morningstar Growth ETFvs. Q1 2024SEC
Q1 2024May 15, 2024134$1.52BInvesco QQQ Trust Series ISPYVanguard Morningstar Growth ETFvs. Q4 2023SEC
Q4 2023Feb 14, 2024141$1.39BInvesco QQQ Trust Series ISPYVanguard Morningstar Value ETFvs. Q3 2023SEC
Q3 2023Nov 13, 2023136$1.15BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFSPYvs. Q2 2023SEC
Q2 2023Aug 14, 2023146$1.32BVanguard Morningstar Value ETFInvesco QQQ Trust Series IVanguard Morningstar Growth ETFvs. Q1 2023SEC
Q1 2023May 15, 2023141$1.16BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFNorth SQ Invstmnts Tvs. Q4 2022SEC
Q4 2022Feb 14, 2023130$1.04BVanguard Morningstar Value ETFNorth SQ Invstmnts TVanguard Morningstar Growth ETFvs. Q3 2022SEC
Q3 2022Nov 14, 2022128$902.3MVanguard Morningstar Value ETFVanguard Morningstar Growth ETFNorth SQ Invstmnts Tvs. Q2 2022SEC
Q2 2022Aug 11, 2022121$1.08BVanguard Morningstar Value ETFSPYiShares Core S&P 500 ETFvs. Q1 2022SEC
Q1 2022May 16, 2022125$1.44BInvesco QQQ Trust Series IVanguard Morningstar Value ETFNorth SQ Invstmnts Tvs. Q4 2021SEC
Q4 2021Feb 9, 2022155$1.49BInvesco QQQ Trust Series IVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q3 2021SEC
Q3 2021Nov 15, 2021149$1.34BInvesco QQQ Trust Series IVanguard Morningstar Growth ETFiShares Trvs. Q2 2021SEC
Q2 2021Aug 16, 2021155$1.49BInvesco QQQ Trust Series ISPYVanguard Morningstar Growth ETFvs. Q1 2021SEC
Q1 2021May 21, 202189$711.0MMSFTAAPLGOOG–SEC