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Livermore
Livermore
ZHEN

Sage Investment Advisers LLC

SEC CIK
0001925418
Latest filing
Jul 9, 2026

The latest 13F from Sage Investment Advisers LLC covers Q2 2026 (filed Jul 9, 2026): 98 long positions worth $148.7M. The top 10 holdings make up 43.6% of the portfolio, and the largest is Vanguard S&P 500 ETF at 14.3%. Livermore has 15 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
11
Est. +$3.88M
Added
35
Est. +$8.13M
Reduced
40
Est. −$6.16M
Sold out
2
Est. −$500.1K

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    14.3%$21.3M
  2. IAUiShares Gold Trust
    4.8%$7.15MHistory
  3. Vanguard Star FDS921909768
    4.0%$5.90M
  4. VVisa Inc.
    3.6%$5.42MHistory
  5. Vanguard Short-Term Bond ETF921937827
    3.5%$5.18M

Share of portfolio

Top 5 holdings and the other 93 positions, by share of portfolio value

  1. Vanguard S&P 500 ETF14.3%
  2. IAU4.8%
  3. Vanguard Star FDS4.0%
  4. V3.6%
  5. Vanguard Short-Term Bond ETF3.5%
  6. Other 93 positions69.8%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Short-Term Bond ETF921937827
    +$1.32MAdded
  2. ETNEaton Corp plc
    +$1.18MNewHistory
  3. IAUiShares Gold Trust
    +$1.06MAddedHistory
  4. Vanguard S&P 500 ETF922908363
    +$787.1KAdded
  5. iShares Tr464288281
    +$714.7KAdded

Largest weight increases

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

  1. Vanguard S&P 500 ETF922908363
    +1.01 pp13.3% → 14.3%
  2. ETNEaton Corp plc
    +0.79 pp0.0% → 0.8%History
  3. Vanguard Short-Term Bond ETF921937827
    +0.62 pp2.9% → 3.5%
  4. iShares Tr464288281
    +0.46 pp0.3% → 0.8%
  5. Vanguard Star FDS921909768
    +0.38 pp3.6% → 4.0%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AMDAdvanced Micro Devices Inc
    −$1.77MReducedHistory
  2. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    −$577.1KReduced
  3. Invesco QQQ Trust Series I46090E103
    −$451.4KReduced
  4. iShares S&P 500 Growth ETF464287309
    −$378.1KReduced
  5. Schwab Strategic Tr808524862
    −$355.0KReduced

Largest weight decreases

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

  1. CVXChevron Corp
    −0.97 pp3.5% → 2.6%History
  2. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    −0.65 pp2.9% → 2.3%
  3. State Street Energy Select Sector SPDR ETF81369Y506
    −0.33 pp0.7% → 0.3%
  4. Schwab Strategic Tr808524862
    −0.32 pp0.9% → 0.6%
  5. SIISprott Inc.
    −0.30 pp1.0% → 0.7%History

Metrics

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

Portfolio value
$148.7M
+$13.6M (+10.1%) vs. prior quarter
Positions
98
+9 vs. prior quarter
Top 10 concentration
43.6%
Top 10 as share of value
Turnover
4.7%
Q2 2026, one quarter
Average holding period
2.9 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

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

Peak $148.7M (Q2 2026)

Q4 2021: $77.7MQ1 2022: $75.5MQ2 2022: $63.9MQ3 2022: $63.3MQ4 2022: $70.1MQ1 2023: $74.8MQ2 2023: $74.8MQ3 2023: $72.9MQ4 2023: $82.4MQ1 2024: $87.2MQ2 2024: $88.4MQ3 2024: $95.5MQ4 2025: $133.4MQ1 2026: $135.0MQ2 2026: $148.7M
Q4 2021Q2 2026
13F filings of Sage Investment Advisers LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 202698$148.7MVanguard S&P 500 ETFIAUVanguard Star FDSvs. Q1 2026SEC
Q1 2026Apr 10, 202689$135.0MVanguard S&P 500 ETFIAUVanguard Star FDSvs. Q4 2025SEC
Q4 2025Feb 10, 202686$133.4MVanguard S&P 500 ETFIAUV–SEC
Q3 2024Nov 4, 202474$95.5MVanguard S&P 500 ETFVIAUvs. Q2 2024SEC
Q2 2024Jul 15, 202468$88.4MVanguard S&P 500 ETFVIAUvs. Q1 2024SEC
Q1 2024Apr 15, 202467$87.2MVanguard S&P 500 ETFVIAUvs. Q4 2023SEC
Q4 2023Feb 6, 202467$82.4MVanguard S&P 500 ETFVCHDNvs. Q3 2023SEC
Q3 2023Oct 10, 202361$72.9MVCVXCHDNvs. Q2 2023SEC
Q2 2023Aug 9, 202360$74.8MVCHDNCVXvs. Q1 2023SEC
Q1 2023Apr 10, 202362$74.8MVCHDNCVXvs. Q4 2022SEC
Q4 2022Feb 13, 202364$70.1MVCHDNCVXvs. Q3 2022SEC
Q3 2022Nov 14, 202258$63.3MVCHDNCVXvs. Q2 2022SEC
Q2 2022Aug 15, 202260$63.9MVCHDNCVXvs. Q1 2022SEC
Q1 2022May 10, 202268$75.5MVCHDNCVXvs. Q4 2021SEC
Q4 2021May 10, 202272$77.7MCHDNVCVX–SEC