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Livermore
Livermore
ZHEN

Level Financial Advisors, Inc.

SEC CIK
0001871734
Latest filing
Jul 15, 2026

The latest 13F from Level Financial Advisors, Inc. covers Q2 2026 (filed Jul 15, 2026): 95 long positions worth $447.5M. The top 10 holdings make up 55.0% of the portfolio, and the largest is Vanguard S&P 500 ETF at 14.4%. Livermore has 20 filings on Form 13F from this institution, going back to Q4 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
5
Est. +$1.99M
Added
36
Est. +$21.0M
Reduced
32
Est. −$1.95M
Sold out
2
Est. −$427.0K

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    14.4%$64.5M
  2. Vanguard Ftse Developed Markets ETF921943858
    7.7%$34.6M
  3. Vanguard Scottsdale FDS92206C102
    6.9%$31.0M
  4. Vanguard Short-Term Bond ETF921937827
    4.1%$18.5M
  5. Dimensional ETF Trust25434V831
    4.1%$18.2M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Growth ETF922908736
    +$2.69MAddedConverted for a 6-for-1 split
  2. Vanguard Ftse Developed Markets ETF921943858
    +$2.44MAdded
  3. Vanguard Total International Bond ETF92203J407
    +$2.01MAdded
  4. Vanguard Morningstar Value ETF922908744
    +$1.72MAdded
  5. Vanguard S&P 500 ETF922908363
    +$1.46MAdded

Largest weight increases

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

  1. Vanguard Morningstar Growth ETF922908736
    +0.70 pp2.7% → 3.4%
  2. Vanguard S&P 500 ETF922908363
    +0.42 pp14.0% → 14.4%
  3. Vanguard Ftse Developed Markets ETF921943858
    +0.35 pp7.4% → 7.7%
  4. Vanguard Morningstar Value ETF922908744
    +0.31 pp2.6% → 2.9%
  5. Dimensional ETF Trust25434V732
    +0.25 pp3.4% → 3.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard World FD921910691
    −$257.4KReduced
  2. BRK.BBerkshire Hathaway Inc
    −$228.2KReducedHistory
  3. Dimensional Emerging Core Equity Market ETF25434V302
    −$216.6KReduced
  4. BABoeing Co
    −$213.8KSold outHistory
  5. GBTCGrayscale Bitcoin Trust ETF
    −$213.2KSold outHistory

Largest weight decreases

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

  1. Vanguard BD Index FDS921937793
    −0.15 pp0.9% → 0.8%
  2. PGProcter & Gamble Co
    −0.14 pp1.3% → 1.1%History
  3. American Centy ETF Tr025072356
    −0.11 pp1.9% → 1.8%
  4. Vanguard World FD921910691
    −0.11 pp0.4% → 0.3%
  5. LINLinde PLC
    −0.07 pp0.4% → 0.3%History

Metrics

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

Portfolio value
$447.5M
+$55.5M (+14.1%) vs. prior quarter
Positions
95
+3 vs. prior quarter
Top 10 concentration
55.0%
Top 10 as share of value
Turnover
0.6%
Q2 2026, one quarter
Average holding period
17.0 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 (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $447.5M (Q2 2026)

Q4 2021: $131.1MQ1 2022: $129.8MQ2 2022: $135.8MQ3 2022: $135.4MQ4 2022: $152.7MQ1 2023: $166.6MQ2 2023: $179.1MQ3 2023: $178.9MQ4 2023: $202.3MQ1 2024: $220.5MQ2 2024: $230.8MQ3 2024: $262.0MQ4 2024: $272.5MQ1 2025: $294.1MQ2 2025: $321.4MQ3 2025: $354.8MQ4 2025: $378.2MQ1 2026: $392.1MQ2 2026: $447.5M
Q4 2021Q2 2026
13F filings of Level Financial Advisors, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 15, 202695$447.5MVanguard S&P 500 ETFVanguard Ftse Developed Markets ETFVanguard Scottsdale FDSvs. Q1 2026SEC
Q1 2026Apr 10, 202692$392.1MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q4 2025SEC
Q4 2025Jan 26, 202695$378.2MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q3 2025SEC
Q3 2025Oct 15, 202594$354.8MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q2 2025SEC
Q2 2025Jul 15, 202590$321.4MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q1 2025SEC
Q1 2025Apr 10, 202585$294.1MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q4 2024SEC
Q4 2024Jan 22, 202579$272.5MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q3 2024SEC
Q3 2024Oct 10, 202475$262.0MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q2 2024SEC
Q2 2024Jul 23, 202467$230.8MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q1 2024SEC
Q1 2024Apr 19, 202472$220.5MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q4 2023SEC
Q4 2023Jan 23, 2024279$202.3MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q3 2023SEC
Q3 2023Oct 18, 2023286$178.9MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q2 2023SEC
Q2 2023Jul 14, 2023284$179.1MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q1 2023SEC
Q1 2023Apr 10, 2023245$166.6MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Ftse Developed Markets ETFvs. Q4 2022SEC
Q4 2022Jan 23, 2023288$152.7MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Short-Term Bond ETFvs. Q3 2022SEC
Q3 2022Oct 18, 2022255$135.4MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Short-Term Bond ETFvs. Q2 2022SEC
Q2 2022Aug 10, 2022Amended359$135.8MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Short-Term Bond ETFvs. Q1 2022SEC
Q1 2022Apr 8, 2022240$129.8MVanguard S&P 500 ETFVanguard Scottsdale FDSVanguard Short-Term Bond ETFvs. Q4 2021SEC
Q4 2021Jan 20, 2022283$131.1MVanguard S&P 500 ETFVanguard Short-Term Bond ETFVanguard Scottsdale FDS–SEC