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Livermore
Livermore
ZHEN

CBM Financial, LLC

SEC CIK
0002055702
Latest filing
Aug 10, 2026

The latest 13F from CBM Financial, LLC covers Q2 2026 (filed Aug 10, 2026): 16 long positions worth $168.1M. The top 10 holdings make up 96.4% of the portfolio, and the largest is iShares Core MSCI Eafe ETF at 26.7%. Livermore has 4 filings on Form 13F from this institution, going back to Q1 2025.

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
2
Est. +$1.99M
Added
6
Est. +$2.92M
Reduced
8
Est. −$11.8M
Sold out
2
Est. −$584.9K

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core MSCI Eafe ETF46432F842
    26.7%$44.8M
  2. State Street SPDR Portfolio S&P 500 ETF78464A854
    16.7%$28.1M
  3. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    11.9%$20.1M
  4. iShares Core S&P Mid-Cap ETF464287507
    11.0%$18.4M
  5. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    9.8%$16.4M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core MSCI Eafe ETF46432F842
    +$1.64MAdded
  2. Vanguard Morningstar Total Stock Market ETF922908769
    +$1.09MNew
  3. Vanguard S&P 500 ETF922908363
    +$902.5KNew
  4. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$374.1KAdded
  5. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +$320.5KAdded

Largest weight increases

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

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +0.65 pp0.0% → 0.6%
  2. Vanguard S&P 500 ETF922908363
    +0.54 pp0.0% → 0.5%
  3. State Street SPDR Portfolio S&P 500 ETF78464A854
    +0.22 pp16.5% → 16.7%
  4. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +0.15 pp11.8% → 11.9%
  5. iShares Core S&P Small Cap ETF464287804
    +0.14 pp4.3% → 4.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Growth ETF922908736
    −$11.0MReducedConverted for a 6-for-1 split
  2. AMDAdvanced Micro Devices Inc
    −$360.2KSold outHistory
  3. iShares Core S&P 500 ETF464287200
    −$352.5KReduced
  4. GOOGAlphabet Inc.
    −$224.7KSold outHistory
  5. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    −$163.9KReduced

Largest weight decreases

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

  1. iShares Core S&P Mid-Cap ETF464287507
    −0.23 pp11.2% → 11.0%
  2. AMDAdvanced Micro Devices Inc
    −0.22 pp0.2% → 0.0%History
  3. iShares Core S&P 500 ETF464287200
    −0.21 pp7.7% → 7.5%
  4. GOOGAlphabet Inc.
    −0.14 pp0.1% → 0.0%History
  5. ORCLOracle Corp
    −0.12 pp0.3% → 0.2%History

Metrics

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

Portfolio value
$168.1M
+$7.82M (+4.9%) vs. prior quarter
Positions
16
0 vs. prior quarter
Top 10 concentration
96.4%
Top 10 as share of value
Turnover
3.0%
Q2 2026, one quarter
Average holding period
3.0 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 (Q1 2025), so positions held before then are understated.

13F filings by quarter

4 quarters, going back to Q1 2025. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $168.1M (Q2 2026)

Q1 2025: $123.0MQ4 2025: $147.2MQ1 2026: $160.2MQ2 2026: $168.1M
Q1 2025Q2 2026
13F filings of CBM Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 10, 202616$168.1MiShares Core MSCI Eafe ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2026SEC
Q1 2026May 12, 202616$160.2MiShares Core MSCI Eafe ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q4 2025SEC
Q4 2025Feb 19, 202616$147.2MiShares Core MSCI Eafe ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETF–SEC
Q1 2025May 21, 202513$123.0MiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFiShares Core S&P Mid-Cap ETF–SEC