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Livermore
Livermore
ZHEN

FSA Investment Group, LLC

SEC CIK
0002051584
Latest filing
Jul 17, 2026

The latest 13F from FSA Investment Group, LLC covers Q2 2026 (filed Jul 17, 2026): 47 long positions worth $307.9M. The top 10 holdings make up 89.7% of the portfolio, and the largest is Schwab U.S. Large-Cap ETF at 38.8%. 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
6
Est. +$3.38M
Added
33
Est. +$38.8M
Reduced
8
Est. −$3.06M
Sold out
4
Est. −$789.1K

Top 5 holdings

Share of this quarter's portfolio value

  1. Schwab U.S. Large-Cap ETF808524201
    38.8%$119.4M
  2. Vanguard Instl Index FD922040845
    21.8%$67.2M
  3. Invesco Exchange Traded FD T46137V357
    15.7%$48.4M
  4. American Centy ETF Tr025072703
    4.6%$14.1M
  5. iShares Core MSCI Emerging Markets ETF46434G103
    3.5%$10.8M

Share of portfolio

Top 5 holdings and the other 42 positions, by share of portfolio value

  1. Schwab U.S. Large-Cap ETF38.8%
  2. Vanguard Instl Index FD21.8%
  3. Invesco Exchange Traded FD T15.7%
  4. American Centy ETF Tr4.6%
  5. iShares Core MSCI Emerging Markets ETF3.5%
  6. Other 42 positions15.5%

Biggest buys

New and added positions, by estimated amount bought

  1. Schwab U.S. Large-Cap ETF808524201
    +$7.63MAdded
  2. Invesco Exchange Traded FD T46137V357
    +$6.86MAdded
  3. Vanguard Instl Index FD922040845
    +$6.09MAdded
  4. American Centy ETF Tr025072703
    +$5.25MAdded
  5. iShares Core MSCI Emerging Markets ETF46434G103
    +$3.45MAdded

Largest weight increases

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

  1. American Centy ETF Tr025072703
    +1.19 pp3.4% → 4.6%
  2. iShares Core MSCI Emerging Markets ETF46434G103
    +1.02 pp2.5% → 3.5%
  3. Invesco Exchange Traded FD T46137V357
    +0.64 pp15.1% → 15.7%
  4. WisdomTree Bloomberg US Dollar Bullish Fund97717W471
    +0.54 pp0.0% → 0.5%
  5. Amplify Blockchain Technology ETF032108607
    +0.36 pp0.2% → 0.6%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab US Tips ETF808524870
    −$2.04MReduced
  2. iShares Flexible Income Active ETF092528603
    −$709.3KReduced
  3. IBITiShares Bitcoin Trust ETF
    −$316.5KSold outHistory
  4. TJXTJX Companies Inc
    −$227.1KSold outHistory
  5. Schwab US Dividend Equity ETF808524797
    −$210.4KSold out

Largest weight decreases

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

  1. Schwab US Tips ETF808524870
    −0.92 pp1.3% → 0.4%
  2. iShares Flexible Income Active ETF092528603
    −0.50 pp1.4% → 0.9%
  3. iShares Core U.S. Aggregate Bond ETF464287226
    −0.17 pp0.8% → 0.6%
  4. IBITiShares Bitcoin Trust ETF
    −0.13 pp0.1% → 0.0%History
  5. Vanguard Scottsdale FDS92206C599
    −0.12 pp1.2% → 1.1%

Metrics

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

Portfolio value
$307.9M
+$59.4M (+23.9%) vs. prior quarter
Positions
47
+2 vs. prior quarter
Top 10 concentration
89.7%
Top 10 as share of value
Turnover
1.4%
Q2 2026, one quarter
Average holding period
4.8 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 (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 $307.9M (Q2 2026)

Q4 2024: $114.9MQ1 2025: $117.5MQ2 2025: $135.0MQ3 2025: $160.4MQ4 2025: $164.0MQ1 2026: $248.4MQ2 2026: $307.9M
Q4 2024Q2 2026
13F filings of FSA Investment Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 17, 202647$307.9MSchwab U.S. Large-Cap ETFVanguard Instl Index FDInvesco Exchange Traded FD Tvs. Q1 2026SEC
Q1 2026Apr 22, 202645$248.4MSchwab U.S. Large-Cap ETFVanguard Instl Index FDInvesco Exchange Traded FD Tvs. Q4 2025SEC
Q4 2025Jan 13, 202638$164.0MSchwab U.S. Large-Cap ETFInvesco Exchange Traded FD TSchwab US Tips ETFvs. Q3 2025SEC
Q3 2025Oct 30, 202540$160.4MSchwab U.S. Large-Cap ETFInvesco Exchange Traded FD TSchwab US Tips ETFvs. Q2 2025SEC
Q2 2025Jul 31, 202520$135.0MSchwab U.S. Large-Cap ETFInvesco Exchange Traded FD TSchwab US Tips ETFvs. Q1 2025SEC
Q1 2025Apr 10, 202523$117.5MSchwab U.S. Large-Cap ETFVanguard Morningstar Small-Cap Growth ETFVanguard Admiral FDS Incvs. Q4 2024SEC
Q4 2024Jan 23, 202520$114.9MSchwab U.S. Large-Cap ETFVanguard Morningstar Small-Cap Growth ETFVanguard Admiral FDS Inc–SEC