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Livermore
Livermore
ZHEN

Focus Financial Network, Inc.

SEC CIK
0002010942
Latest filing
Jul 9, 2026

The latest 13F from Focus Financial Network, Inc. covers Q2 2026 (filed Jul 9, 2026): 764 long positions worth $3.23B. The top 10 holdings make up 33.8% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 9.9%. Livermore has 21 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
70
Est. +$75.6M
Added
354
Est. +$169.7M
Reduced
305
Est. −$156.0M
Sold out
35
Est. −$39.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    9.9%$319.9MHistory
  2. Schwab U.S. Large-Cap Growth ETF808524300
    4.6%$147.6M
  3. Invesco QQQ Trust Series I46090E103
    3.7%$118.6M
  4. AAPLApple Inc.
    3.0%$97.3MHistory
  5. iShares Core S&P 500 ETF464287200
    2.9%$92.5M

Biggest buys

New and added positions, by estimated amount bought

  1. T Rowe Price Exchange-Traded87283Q701
    +$20.7MAdded
  2. First Tr Exchange-Traded FD33734X200
    +$12.5MNew
  3. First Tr Exchng Traded FD VI33740F888
    +$10.8MNew
  4. SNDKSandisk Corp
    +$9.58MAddedHistory
  5. iShares Core S&P 500 ETF464287200
    +$7.89MAdded

Largest weight increases

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

  1. SNDKSandisk Corp
    +1.02 pp0.3% → 1.4%History
  2. T Rowe Price Exchange-Traded87283Q701
    +0.63 pp0.1% → 0.7%
  3. ProShares Tr74347R206
    +0.49 pp1.3% → 1.8%
  4. First Tr Exchange-Traded FD33734X200
    +0.39 pp0.0% → 0.4%
  5. Invesco QQQ Trust Series I46090E103
    +0.37 pp3.3% → 3.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab U.S. Large-Cap Growth ETF808524300
    −$12.5MReduced
  2. iShares Tr464289479
    −$12.4MSold out
  3. iShares Tr46434V456
    −$12.1MReduced
  4. Profesionally Managed Portfo74316P579
    −$8.78MReduced
  5. iShares Inc46434G764
    −$7.21MReduced

Largest weight decreases

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

  1. iShares Tr464289479
    −0.45 pp0.4% → 0.0%
  2. iShares Tr46434V456
    −0.41 pp0.4% → <0.1%
  3. Schwab US Dividend Equity ETF808524797
    −0.40 pp2.2% → 1.8%
  4. Schwab U.S. Large-Cap Growth ETF808524300
    −0.37 pp4.9% → 4.6%
  5. Profesionally Managed Portfo74316P579
    −0.37 pp0.7% → 0.4%

Metrics

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

Portfolio value
$3.23B
+$441.2M (+15.8%) vs. prior quarter
Positions
764
+35 vs. prior quarter
Top 10 concentration
33.8%
Top 10 as share of value
Turnover
6.5%
Q2 2026, one quarter
Average holding period
9.2 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 (Q1 2021), so positions held before then are understated.

13F filings by quarter

21 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.23B (Q2 2026)

Q1 2021: $854.7MQ2 2021: $751.7MQ3 2021: $749.2MQ4 2021: $683.1MQ1 2022: $1.43BQ2 2022: $1.21BQ3 2022: $1.16BQ4 2022: $1.23BQ1 2023: $1.61BQ2 2023: $1.80BQ3 2023: $1.77BQ1 2024: $2.05BQ2 2024: $2.34BQ3 2024: $2.45BQ4 2024: $2.52BQ1 2025: $2.45BQ2 2025: $2.53BQ3 2025: $2.80BQ4 2025: $2.87BQ1 2026: $2.79BQ2 2026: $3.23B
Q1 2021Q2 2026
13F filings of Focus Financial Network, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 2026764$3.23BNVDASchwab U.S. Large-Cap Growth ETFInvesco QQQ Trust Series Ivs. Q1 2026SEC
Q1 2026Apr 14, 2026729$2.79BNVDASchwab U.S. Large-Cap Growth ETFInvesco QQQ Trust Series Ivs. Q4 2025SEC
Q4 2025Jan 12, 2026725$2.87BNVDASchwab U.S. Large-Cap Growth ETFInvesco QQQ Trust Series Ivs. Q3 2025SEC
Q3 2025Oct 10, 2025738$2.80BNVDASchwab U.S. Large-Cap Growth ETFInvesco QQQ Trust Series Ivs. Q2 2025SEC
Q2 2025Jul 10, 2025704$2.53BNVDASchwab U.S. Large-Cap Growth ETFInvesco QQQ Trust Series Ivs. Q1 2025SEC
Q1 2025Apr 15, 2025684$2.45BNVDASchwab U.S. Large-Cap Growth ETFiShares Core S&P 500 ETFvs. Q4 2024SEC
Q4 2024Jan 29, 2025665$2.52BNVDASchwab U.S. Large-Cap Growth ETFiShares Core S&P 500 ETFvs. Q3 2024SEC
Q3 2024Oct 28, 2024668$2.45BNVDASchwab U.S. Large-Cap Growth ETFiShares Core S&P 500 ETFvs. Q2 2024SEC
Q2 2024Jul 22, 2024657$2.34BNVDASchwab U.S. Large-Cap Growth ETFiShares Core S&P 500 ETFvs. Q1 2024SEC
Q1 2024Apr 24, 2024626$2.05BNVDASchwab U.S. Large-Cap Growth ETFiShares Core S&P 500 ETF–SEC
Q3 2023Jul 23, 2024586$1.77BSchwab US Dividend Equity ETFSchwab U.S. Large-Cap Growth ETFAAPLvs. Q2 2023SEC
Q2 2023Jul 23, 2024589$1.80BAAPLSchwab US Dividend Equity ETFSchwab U.S. Large-Cap Growth ETFvs. Q1 2023SEC
Q1 2023Jul 23, 2024569$1.61BSchwab US Dividend Equity ETFSchwab U.S. Large-Cap Growth ETFAAPLvs. Q4 2022SEC
Q4 2022Jul 24, 2024473$1.23BSchwab US Dividend Equity ETFSchwab U.S. Large-Cap Growth ETFAAPLvs. Q3 2022SEC
Q3 2022Jul 24, 2024472$1.16BSchwab US Dividend Equity ETFAAPLSchwab U.S. Large-Cap Growth ETFvs. Q2 2022SEC
Q2 2022Jul 24, 2024479$1.21BSchwab US Dividend Equity ETFAAPLSchwab U.S. Large-Cap Growth ETFvs. Q1 2022SEC
Q1 2022Jul 24, 2024506$1.43BSchwab US Dividend Equity ETFAAPLSchwab U.S. Large-Cap Growth ETFvs. Q4 2021SEC
Q4 2021Jul 24, 2024351$683.1MAAPLInvesco QQQ Trust Series IMSFTvs. Q3 2021SEC
Q3 2021Jul 24, 2024402$749.2MAAPLInvesco QQQ Trust Series IProShares Trvs. Q2 2021SEC
Q2 2021Jul 24, 2024400$751.7MAAPLProShares TrInvesco QQQ Trust Series Ivs. Q1 2021SEC
Q1 2021Jul 24, 2024396$854.7MAAPLAMZNMMM–SEC