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Livermore
Livermore
ZHEN

Lynx Investment Advisory

SEC CIK
0002028812
Latest filing
Jul 27, 2026

The latest 13F from Lynx Investment Advisory covers Q2 2026 (filed Jul 27, 2026): 230 long positions worth $305.2M. The top 10 holdings make up 26.0% of the portfolio, and the largest is Invesco S&P 500 Quality ETF at 4.2%. Livermore has 9 filings on Form 13F from this institution, going back to Q2 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
53
Est. +$30.7M
Added
128
Est. +$62.5M
Reduced
40
Est. −$9.53M
Sold out
4
Est. −$1.63M

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco S&P 500 Quality ETF46137V241
    4.2%$12.7M
  2. AAPLApple Inc.
    3.2%$9.64MHistory
  3. iShares Tr46435G524
    2.9%$8.78M
  4. Vanguard Ftse Developed Markets ETF921943858
    2.7%$8.22M
  5. SPYSPDR S&P 500 ETF Trust
    2.5%$7.56MHistory

Share of portfolio

Top 5 holdings and the other 225 positions, by share of portfolio value

  1. Invesco S&P 500 Quality ETF4.2%
  2. AAPL3.2%
  3. iShares Tr2.9%
  4. Vanguard Ftse Developed Markets ETF2.7%
  5. SPY2.5%
  6. Other 225 positions84.6%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Ftse Developed Markets ETF921943858
    +$4.75MAdded
  2. Vanguard Ftse All-World Ex-US Small-Cap ETF922042718
    +$4.14MAdded
  3. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$3.86MAdded
  4. Vanguard Morningstar Total Stock Market ETF922908769
    +$3.77MAdded
  5. Vanguard Total World Stock ETF922042742
    +$3.57MAdded

Largest weight increases

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

  1. Vanguard Ftse All-World Ex-US Small-Cap ETF922042718
    +1.30 pp0.2% → 1.5%
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +1.21 pp0.2% → 1.4%
  3. Vanguard Ftse Developed Markets ETF921943858
    +1.20 pp1.5% → 2.7%
  4. Vanguard Morningstar Total Stock Market ETF922908769
    +1.19 pp0.2% → 1.4%
  5. Vanguard Total World Stock ETF922042742
    +1.15 pp0.1% → 1.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Profesionally Managed Portfo74316P579
    −$2.29MReduced
  2. iShares Core S&P Mid-Cap ETF464287507
    −$1.94MReduced
  3. JHGJanus Henderson Group Ltd.
    −$895.9KSold outHistory
  4. Invesco Exch Traded FD Tr II46138E362
    −$850.6KReduced
  5. ProShares Tr74348A467
    −$739.9KReducedConverted for a 2-for-1 split

Largest weight decreases

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

  1. Profesionally Managed Portfo74316P579
    −1.45 pp2.3% → 0.8%
  2. iShares Core S&P Mid-Cap ETF464287507
    −1.44 pp3.7% → 2.3%
  3. GLDMWorld Gold Trust
    −1.34 pp3.2% → 1.9%History
  4. ProShares Tr74348A467
    −1.14 pp3.3% → 2.1%
  5. Invesco S&P 500 Quality ETF46137V241
    −1.07 pp5.2% → 4.2%

Metrics

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

Portfolio value
$305.2M
+$96.0M (+45.9%) vs. prior quarter
Positions
230
+49 vs. prior quarter
Top 10 concentration
26.0%
Top 10 as share of value
Turnover
4.3%
Q2 2026, one quarter
Average holding period
6.8 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 2024), so positions held before then are understated.

13F filings by quarter

9 quarters, going back to Q2 2024. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $305.2M (Q2 2026)

Q2 2024: $135.0MQ3 2024: $138.9MQ4 2024: $146.6MQ1 2025: $150.0MQ2 2025: $153.1MQ3 2025: $167.2MQ4 2025: $183.3MQ1 2026: $209.2MQ2 2026: $305.2M
Q2 2024Q2 2026
13F filings of Lynx Investment Advisory by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 27, 2026230$305.2MInvesco S&P 500 Quality ETFAAPLiShares Trvs. Q1 2026SEC
Q1 2026Apr 24, 2026181$209.2MInvesco S&P 500 Quality ETFiShares TriShares Core S&P Mid-Cap ETFvs. Q4 2025SEC
Q4 2025Feb 5, 2026166$183.3MInvesco S&P 500 Quality ETFAAPLiShares Core S&P Mid-Cap ETFvs. Q3 2025SEC
Q3 2025Nov 6, 2025150$167.2MInvesco S&P 500 Quality ETFiShares Core S&P Mid-Cap ETFAAPLvs. Q2 2025SEC
Q2 2025Jul 18, 2025147$153.1MInvesco S&P 500 Quality ETFiShares Core S&P Mid-Cap ETFiShares Trvs. Q1 2025SEC
Q1 2025Jun 16, 2025144$150.0MInvesco S&P 500 Quality ETFiShares Core S&P Mid-Cap ETFAAPLvs. Q4 2024SEC
Q4 2024Feb 11, 2025146$146.6MInvesco S&P 500 Quality ETFiShares Core S&P Mid-Cap ETFAAPLvs. Q3 2024SEC
Q3 2024Nov 4, 2024142$138.9MInvesco S&P 500 Quality ETFiShares Core S&P Mid-Cap ETFAAPLvs. Q2 2024SEC
Q2 2024Jul 9, 2024815$135.0MInvesco S&P 500 Quality ETFiShares Core S&P Mid-Cap ETFAAPL–SEC