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Livermore
Livermore
ZHEN

Trademark Financial Management, LLC

SEC CIK
0002011736
Latest filing
Jul 27, 2026

The latest 13F from Trademark Financial Management, LLC covers Q2 2026 (filed Jul 27, 2026): 107 long positions worth $244.2M. The top 10 holdings make up 49.6% of the portfolio, and the largest is iShares Core S&P 500 ETF at 9.4%. 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
14
Est. +$7.36M
Added
35
Est. +$31.1M
Reduced
51
Est. −$18.9M
Sold out
9
Est. −$3.20M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    9.4%$22.9M
  2. Putnam ETF Trust746729300
    5.7%$14.0M
  3. Invesco Nasdaq 100 ETF46138G649
    5.3%$13.0M
  4. Dimensional ETF Trust25434V807
    5.2%$12.8M
  5. J P Morgan Exchange Traded F46641Q670
    5.1%$12.3M

Share of portfolio

Top 5 holdings and the other 102 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF9.4%
  2. Putnam ETF Trust5.7%
  3. Invesco Nasdaq 100 ETF5.3%
  4. Dimensional ETF Trust5.2%
  5. J P Morgan Exchange Traded F5.1%
  6. Other 102 positions69.3%

Biggest buys

New and added positions, by estimated amount bought

  1. Victory Portfolios II92647X830
    +$5.54MAdded
  2. Victory Portfolios II92647N535
    +$3.91MAdded
  3. Litman Gregory FDS Tr53700T827
    +$3.39MAdded
  4. Legg Mason ETF Invt52468L505
    +$2.57MNew
  5. Invesco Exch Traded FD Tr II46138E727
    +$2.43MAdded

Largest weight increases

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

  1. Victory Portfolios II92647X830
    +2.23 pp1.2% → 3.4%
  2. Victory Portfolios II92647N535
    +1.38 pp1.4% → 2.7%
  3. Litman Gregory FDS Tr53700T827
    +1.33 pp0.4% → 1.7%
  4. Legg Mason ETF Invt52468L505
    +1.05 pp0.0% → 1.1%
  5. Invesco Exch Traded FD Tr II46138E727
    +0.95 pp0.3% → 1.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$4.18MReduced
  2. VanEck ETF Trust92189H748
    −$2.60MReduced
  3. Morgan Stanley ETF Trust61774R841
    −$1.72MReduced
  4. Invesco QQQ Trust Series I46090E103
    −$1.27MReduced
  5. iShares Tr464288521
    −$1.09MReduced

Largest weight decreases

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

  1. iShares Core S&P 500 ETF464287200
    −2.19 pp11.6% → 9.4%
  2. VanEck ETF Trust92189H748
    −1.39 pp2.0% → 0.6%
  3. Morgan Stanley ETF Trust61774R841
    −0.98 pp1.7% → 0.7%
  4. JPMorgan Ultra-Short Income ETF46641Q837
    −0.87 pp2.6% → 1.8%
  5. IAUiShares Gold Trust
    −0.85 pp2.4% → 1.6%History

Metrics

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

Portfolio value
$244.2M
+$40.0M (+19.6%) vs. prior quarter
Positions
107
+5 vs. prior quarter
Top 10 concentration
49.6%
Top 10 as share of value
Turnover
9.9%
Q2 2026, one quarter
Average holding period
8.3 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 $244.2M (Q2 2026)

Q4 2023: $136.3MQ1 2024: $120.6MQ2 2024: $122.8MQ3 2024: $126.1MQ4 2024: $125.9MQ1 2025: $131.1MQ2 2025: $163.5MQ3 2025: $171.8MQ4 2025: $181.7MQ1 2026: $204.1MQ2 2026: $244.2M
Q4 2023Q2 2026
13F filings of Trademark Financial Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 27, 2026107$244.2MiShares Core S&P 500 ETFPutnam ETF TrustInvesco Nasdaq 100 ETFvs. Q1 2026SEC
Q1 2026Apr 27, 2026102$204.1MiShares Core S&P 500 ETFPutnam ETF TrustJ P Morgan Exchange Traded Fvs. Q4 2025SEC
Q4 2025Jan 28, 202695$181.7MiShares Core S&P 500 ETFPutnam ETF TrustJ P Morgan Exchange Traded Fvs. Q3 2025SEC
Q3 2025Oct 17, 202594$171.8MiShares Core S&P 500 ETFInvesco QQQ Trust Series IJ P Morgan Exchange Traded Fvs. Q2 2025SEC
Q2 2025Jul 31, 202588$163.5MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard World FDvs. Q1 2025SEC
Q1 2025Apr 25, 202587$131.1MiShares Core S&P 500 ETFInvesco QQQ Trust Series IJPMorgan Ultra-Short Income ETFvs. Q4 2024SEC
Q4 2024Jan 30, 202590$125.9MiShares Core S&P 500 ETFInvesco QQQ Trust Series IPacer US Cash Cows 100 ETFvs. Q3 2024SEC
Q3 2024Oct 31, 202493$126.1MiShares Core S&P 500 ETFPacer US Cash Cows 100 ETFInvesco QQQ Trust Series Ivs. Q2 2024SEC
Q2 2024Jul 30, 202486$122.8MiShares Core S&P 500 ETFPacer US Cash Cows 100 ETFVanEck Morningstar Wide Moat ETFvs. Q1 2024SEC
Q1 2024May 7, 202476$120.6MiShares Core S&P 500 ETFPacer US Cash Cows 100 ETFVanEck Morningstar Wide Moat ETFvs. Q4 2023SEC
Q4 2023Feb 13, 202486$136.3MiShares Core S&P 500 ETFVanEck Morningstar Wide Moat ETFPacer US Cash Cows 100 ETF–SEC