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Livermore
Livermore
ZHEN

Michael S. Ryan, Inc.

SEC CIK
0001987261
Latest filing
Jul 1, 2026

The latest 13F from Michael S. Ryan, Inc. covers Q2 2026 (filed Jul 1, 2026): 57 long positions worth $200.3M. The top 10 holdings make up 74.8% of the portfolio, and the largest is State Street SPDR Portfolio S&P 500 Value ETF at 15.0%. Livermore has 13 filings on Form 13F from this institution, going back to Q2 2023.

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
6
Est. +$9.16M
Added
27
Est. +$5.20M
Reduced
16
Est. −$690.2K
Sold out
4
Est. −$8.34M

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    15.0%$30.0M
  2. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    14.5%$29.0M
  3. WisdomTree Tr97717X578
    12.5%$25.1M
  4. Vanguard Ftse Developed Markets ETF921943858
    11.1%$22.2M
  5. State Street SPDR S&P 400 Mid Cap Value ETF78464A839
    5.9%$11.9M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Ibonds 2029 Term High Yield and Income ETF46436E379
    +$5.15MNew
  2. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +$1.89MAdded
  3. iShares Tr46438G372
    +$1.80MNew
  4. iShares Tr46438G166
    +$1.51MNew
  5. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +$1.24MAdded

Largest weight increases

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

  1. iShares Ibonds 2029 Term High Yield and Income ETF46436E379
    +2.57 pp0.0% → 2.6%
  2. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +1.18 pp13.3% → 14.5%
  3. iShares Tr46438G372
    +0.90 pp0.0% → 0.9%
  4. iShares Tr46438G166
    +0.76 pp0.0% → 0.8%
  5. WisdomTree Tr97717X578
    +0.69 pp11.9% → 12.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Ibonds 2026 Term High Yield and Income ETF46436E528
    −$5.13MSold out
  2. iShares Ibonds Dec 2029 Term Corporate ETF46436E205
    −$2.67MSold out
  3. XYLXylem Inc.
    −$334.1KSold outHistory
  4. TMUST-Mobile US, Inc.
    −$204.4KSold outHistory
  5. iShares Ibonds Dec 2032 Term Corporate ETF46436E312
    −$199.6KReduced

Largest weight decreases

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

  1. iShares Ibonds 2026 Term High Yield and Income ETF46436E528
    −2.98 pp3.0% → 0.0%
  2. iShares Ibonds Dec 2029 Term Corporate ETF46436E205
    −1.55 pp1.6% → 0.0%
  3. iShares Ibonds Dec 2032 Term Corporate ETF46436E312
    −0.56 pp3.2% → 2.6%
  4. iShares Ibonds 2030 Term High Yield and Income ETF46436E122
    −0.45 pp3.1% → 2.7%
  5. iShares Ibonds Dec 2031 Term Corporate ETF46436E486
    −0.28 pp1.6% → 1.3%

Metrics

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

Portfolio value
$200.3M
+$28.6M (+16.6%) vs. prior quarter
Positions
57
+2 vs. prior quarter
Top 10 concentration
74.8%
Top 10 as share of value
Turnover
4.9%
Q2 2026, one quarter
Average holding period
11.2 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 (Q2 2023), so positions held before then are understated.

13F filings by quarter

13 quarters, going back to Q2 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $200.3M (Q2 2026)

Q2 2023: $108.2MQ3 2023: $104.8MQ4 2023: $120.5MQ1 2024: $126.7MQ2 2024: $132.0MQ3 2024: $143.5MQ4 2024: $146.9MQ1 2025: $142.9MQ2 2025: $157.4MQ3 2025: $167.6MQ4 2025: $172.9MQ1 2026: $171.8MQ2 2026: $200.3M
Q2 2023Q2 2026
13F filings of Michael S. Ryan, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 1, 202657$200.3MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFWisdomTree Trvs. Q1 2026SEC
Q1 2026Apr 17, 202655$171.8MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFWisdomTree Trvs. Q4 2025SEC
Q4 2025Jan 5, 202655$172.9MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFVanguard Ftse Developed Markets ETFvs. Q3 2025SEC
Q3 2025Oct 15, 202553$167.6MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFVanguard Ftse Developed Markets ETFvs. Q2 2025SEC
Q2 2025Jul 2, 202548$157.4MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFVanguard Ftse Developed Markets ETFvs. Q1 2025SEC
Q1 2025Apr 15, 202545$142.9MState Street SPDR Portfolio S&P 500 Value ETFVanguard Ftse Developed Markets ETFState Street SPDR S&P 600 Small Cap Value ETFvs. Q4 2024SEC
Q4 2024Jan 8, 202548$146.9MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2024SEC
Q3 2024Oct 11, 202445$143.5MState Street SPDR Portfolio S&P 500 Value ETFVanguard Ftse Developed Markets ETFState Street SPDR S&P 600 Small Cap Value ETFvs. Q2 2024SEC
Q2 2024Jul 1, 202445$132.0MState Street SPDR Portfolio S&P 500 Value ETFVanguard Ftse Developed Markets ETFState Street SPDR S&P 600 Small Cap Value ETFvs. Q1 2024SEC
Q1 2024Apr 1, 202446$126.7MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFState Street SPDR S&P 400 Mid Cap Value ETFvs. Q4 2023SEC
Q4 2023Jan 5, 202450$120.5MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFState Street SPDR S&P 400 Mid Cap Value ETFvs. Q3 2023SEC
Q3 2023Nov 1, 202349$104.8MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFState Street SPDR S&P 400 Mid Cap Value ETFvs. Q2 2023SEC
Q2 2023Jul 26, 202353$108.2MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFState Street SPDR S&P 400 Mid Cap Value ETF–SEC