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Livermore
Livermore
ZHEN

Pathstone Holdings, LLC

SEC CIK
0002011612
Latest filing
Aug 13, 2026

The latest 13F from Pathstone Holdings, LLC covers Q2 2026 (filed Aug 13, 2026): 2,324 long positions worth $34.3B. The top 10 holdings make up 30.7% of the portfolio, and the largest is iShares Core S&P 500 ETF at 5.2%. Livermore has 11 filings on Form 13F from this institution, going back to Q4 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
209
Est. +$439.0M
Added
1116
Est. +$6.15B
Reduced
882
Est. −$569.7M
Sold out
90
Est. −$99.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    5.2%$1.80B
  2. SPYSPDR S&P 500 ETF Trust
    4.7%$1.61BHistory
  3. Vanguard Morningstar Growth ETF922908736
    4.0%$1.36B
  4. Vanguard S&P 500 ETF922908363
    3.8%$1.30B
  5. Vanguard Morningstar Value ETF922908744
    3.3%$1.14B

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Growth ETF922908736
    +$1.28BAddedConverted for a 6-for-1 split
  2. Vanguard Morningstar Value ETF922908744
    +$1.13BAdded
  3. iShares Core MSCI Total International Stock ETF46432F834
    +$512.1MAdded
  4. iShares Core MSCI Eafe ETF46432F842
    +$466.4MAdded
  5. iShares Core MSCI Emerging Markets ETF46434G103
    +$209.6MAdded

Largest weight increases

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

  1. Vanguard Morningstar Growth ETF922908736
    +3.69 pp0.3% → 4.0%
  2. Vanguard Morningstar Value ETF922908744
    +3.28 pp<0.1% → 3.3%
  3. iShares Core MSCI Total International Stock ETF46432F834
    +1.49 pp<0.1% → 1.5%
  4. iShares Core MSCI Eafe ETF46432F842
    +1.32 pp0.2% → 1.5%
  5. iShares Core MSCI Emerging Markets ETF46434G103
    +0.55 pp0.4% → 1.0%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CRWDCrowdStrike Holdings, Inc.
    −$99.2MReducedHistory
  2. HONHoneywell International Inc
    −$24.3MSold outHistory
  3. SPYSPDR S&P 500 ETF Trust
    −$17.9MReducedHistory
  4. iShares Core S&P Small Cap ETF464287804
    −$14.8MReduced
  5. MSFTMicrosoft Corp
    −$12.2MReducedHistory

Largest weight decreases

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

  1. SPYSPDR S&P 500 ETF Trust
    −0.95 pp5.6% → 4.7%History
  2. MSFTMicrosoft Corp
    −0.70 pp2.6% → 1.8%History
  3. iShares Core S&P Mid-Cap ETF464287507
    −0.32 pp1.9% → 1.6%
  4. iShares Core S&P Small Cap ETF464287804
    −0.19 pp1.2% → 1.0%
  5. CRWDCrowdStrike Holdings, Inc.
    −0.18 pp0.3% → 0.1%History

Metrics

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

Portfolio value
$34.3B
+$9.20B (+36.6%) vs. prior quarter
Positions
2,324
+119 vs. prior quarter
Top 10 concentration
30.7%
Top 10 as share of value
Turnover
2.3%
Q2 2026, one quarter
Average holding period
10.6 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 2023), so positions held before then are understated.

13F filings by quarter

11 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $34.3B (Q2 2026)

Q4 2023: $18.4BQ1 2024: $21.2BQ2 2024: $22.1BQ3 2024: $22.3BQ4 2024: $22.6BQ1 2025: $23.1BQ2 2025: $25.3BQ3 2025: $26.2BQ4 2025: $25.9BQ1 2026: $25.1BQ2 2026: $34.3B
Q4 2023Q2 2026
13F filings of Pathstone Holdings, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 20262,324$34.3BiShares Core S&P 500 ETFSPYVanguard Morningstar Growth ETFvs. Q1 2026SEC
Q1 2026May 11, 20262,205$25.1BiShares Core S&P 500 ETFSPYVanguard S&P 500 ETFvs. Q4 2025SEC
Q4 2025Feb 13, 20262,208$25.9BiShares Core S&P 500 ETFSPYVanguard S&P 500 ETFvs. Q3 2025SEC
Q3 2025Nov 13, 20252,326$26.2BiShares Core S&P 500 ETFSPYCRWDvs. Q2 2025SEC
Q2 2025Aug 12, 20252,162$25.3BCRWDiShares Core S&P 500 ETFSPYvs. Q1 2025SEC
Q1 2025May 15, 20252,202$23.1BSPYiShares Core S&P 500 ETFVanguard S&P 500 ETFvs. Q4 2024SEC
Q4 2024Feb 14, 20252,298$22.6BSPYiShares Core S&P 500 ETFVanguard S&P 500 ETFvs. Q3 2024SEC
Q3 2024Nov 7, 20242,311$22.3BSPYiShares Core S&P 500 ETFMSFTvs. Q2 2024SEC
Q2 2024Aug 14, 20242,293$22.1BSPYiShares Core S&P 500 ETFMSFTvs. Q1 2024SEC
Q1 2024May 13, 20242,280$21.2BSPYiShares Core S&P 500 ETFMSFTvs. Q4 2023SEC
Q4 2023Feb 14, 20242,196$18.4BSPYiShares Core S&P 500 ETFMSFT–SEC