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Livermore
Livermore
ZHEN

Define Financial, LLC

SEC CIK
0002021320
Latest filing
Jul 13, 2026

The latest 13F from Define Financial, LLC covers Q2 2026 (filed Jul 13, 2026): 47 long positions worth $217.8M. The top 10 holdings make up 91.4% of the portfolio, and the largest is American Centy ETF Tr at 15.1%. Livermore has 7 filings on Form 13F from this institution, going back to Q4 2024.

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
8
Est. +$3.22M
Added
33
Est. +$13.2M
Reduced
4
Est. −$105.8K
Sold out
2
Est. −$232.0K

Top 5 holdings

Share of this quarter's portfolio value

  1. American Centy ETF Tr025072877
    15.1%$32.8M
  2. Vanguard Malvern FDS922020805
    14.9%$32.4M
  3. American Centy ETF Tr025072802
    12.7%$27.7M
  4. Vanguard Morningstar Total Stock Market ETF922908769
    12.7%$27.6M
  5. Vanguard Ftse All-World Ex-US Index Fund922042775
    11.6%$25.2M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Malvern FDS922020805
    +$3.94MAdded
  2. American Centy ETF Tr025072802
    +$1.77MAdded
  3. American Centy ETF Tr025072877
    +$1.76MAdded
  4. Vanguard Ftse All-World Ex-US Index Fund922042775
    +$1.25MAdded
  5. Vanguard Real Estate ETF922908553
    +$1.07MAdded

Largest weight increases

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

  1. SYKStryker Corp
    +0.49 pp0.0% → 0.5%History
  2. AVGOBroadcom Inc.
    +0.21 pp0.0% → 0.2%History
  3. American Centy ETF Tr025072604
    +0.21 pp6.6% → 6.8%
  4. METAMeta Platforms, Inc.
    +0.17 pp0.0% → 0.2%History
  5. AMDAdvanced Micro Devices Inc
    +0.17 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464287457
    −$200.4KSold out
  2. iShares Core S&P 500 ETF464287200
    −$86.2KReduced
  3. LCTXLineage Cell Therapeutics, Inc.
    −$31.6KSold outHistory
  4. Vanguard S&P 500 ETF922908363
    −$11.0KReduced
  5. GOOGAlphabet Inc.
    −$4.95KReducedHistory

Largest weight decreases

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

  1. iShares Tr464287457
    −0.11 pp0.1% → 0.0%
  2. iShares Core S&P 500 ETF464287200
    −0.05 pp0.2% → 0.1%
  3. LCTXLineage Cell Therapeutics, Inc.
    −0.02 pp<0.1% → 0.0%History
  4. Vanguard Morningstar Value ETF922908744
    −0.01 pp0.2% → 0.2%
  5. Vanguard S&P 500 ETF922908363
    −0.01 pp0.3% → 0.2%

Metrics

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

Portfolio value
$217.8M
+$33.5M (+18.2%) vs. prior quarter
Positions
47
+6 vs. prior quarter
Top 10 concentration
91.4%
Top 10 as share of value
Turnover
0.2%
Q2 2026, one quarter
Average holding period
6.9 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 2024), so positions held before then are understated.

13F filings by quarter

7 quarters, going back to Q4 2024. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $217.8M (Q2 2026)

Q4 2024: $132.5MQ1 2025: $131.3MQ2 2025: $151.8MQ3 2025: $166.7MQ4 2025: $176.4MQ1 2026: $184.3MQ2 2026: $217.8M
Q4 2024Q2 2026
13F filings of Define Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 13, 202647$217.8MAmerican Centy ETF TrVanguard Malvern FDSAmerican Centy ETF Trvs. Q1 2026SEC
Q1 2026Apr 15, 202641$184.3MVanguard Malvern FDSAmerican Centy ETF TrAmerican Centy ETF Trvs. Q4 2025SEC
Q4 2025Jan 13, 202643$176.4MAmerican Centy ETF TrVanguard Malvern FDSAmerican Centy ETF Trvs. Q3 2025SEC
Q3 2025Oct 16, 202540$166.7MAmerican Centy ETF TrAmerican Centy ETF TrVanguard Malvern FDSvs. Q2 2025SEC
Q2 2025Jul 15, 202537$151.8MAmerican Centy ETF TrVanguard Malvern FDSAmerican Centy ETF Trvs. Q1 2025SEC
Q1 2025Apr 15, 202533$131.3MVanguard Malvern FDSAmerican Centy ETF TrAmerican Centy ETF Trvs. Q4 2024SEC
Q4 2024Jan 14, 202534$132.5MAmerican Centy ETF TrVanguard Malvern FDSVanguard Morningstar Total Stock Market ETF–SEC