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Livermore
Livermore
ZHEN

SFM, LLC

SEC CIK
0002064225
Latest filing
Jul 7, 2026

The latest 13F from SFM, LLC covers Q2 2026 (filed Jul 7, 2026): 69 long positions worth $195.1M. The top 10 holdings make up 62.5% of the portfolio, and the largest is Vanguard S&P 500 ETF at 22.7%. 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
10
Est. +$10.3M
Added
16
Est. +$15.5M
Reduced
37
Est. −$10.9M
Sold out
4
Est. −$1.02M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    22.7%$44.2M
  2. WisdomTree Tr97717Y527
    8.3%$16.2M
  3. Vanguard Morningstar Mid-Cap ETF922908629
    6.5%$12.7M
  4. iShares Core S&P 500 ETF464287200
    5.5%$10.7M
  5. IAUMiShares Gold Trust Micro
    4.5%$8.80MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. WisdomTree Tr97717Y527
    +$6.85MAdded
  2. Vanguard World FD921910873
    +$2.97MNew
  3. Vanguard S&P 500 ETF922908363
    +$2.63MAdded
  4. iShares Tr464287150
    +$2.35MNew
  5. American Centy ETF Tr025072349
    +$1.90MNew

Largest weight increases

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

  1. WisdomTree Tr97717Y527
    +2.66 pp5.6% → 8.3%
  2. Vanguard World FD921910873
    +1.52 pp0.0% → 1.5%
  3. iShares Tr464287150
    +1.20 pp0.0% → 1.2%
  4. American Centy ETF Tr025072349
    +0.97 pp0.0% → 1.0%
  5. Vanguard S&P 500 ETF922908363
    +0.80 pp21.8% → 22.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MSFTMicrosoft Corp
    −$1.33MReducedHistory
  2. T Rowe Price Exchange-Traded87283Q867
    −$937.8KReduced
  3. AMZNAmazon Com Inc
    −$779.6KReducedHistory
  4. METAMeta Platforms, Inc.
    −$773.3KReducedHistory
  5. VVisa Inc.
    −$587.3KReducedHistory

Largest weight decreases

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

  1. MSFTMicrosoft Corp
    −1.35 pp4.6% → 3.2%History
  2. METAMeta Platforms, Inc.
    −0.66 pp1.6% → 0.9%History
  3. Schwab US Dividend Equity ETF808524797
    −0.56 pp2.6% → 2.1%
  4. AMZNAmazon Com Inc
    −0.53 pp4.3% → 3.8%History
  5. T Rowe Price Exchange-Traded87283Q867
    −0.52 pp2.0% → 1.5%

Metrics

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

Portfolio value
$195.1M
+$29.6M (+17.9%) vs. prior quarter
Positions
69
+6 vs. prior quarter
Top 10 concentration
62.5%
Top 10 as share of value
Turnover
6.6%
Q2 2026, one quarter
Average holding period
10.0 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 (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 $195.1M (Q2 2026)

Q4 2023: $121.0MQ1 2024: $130.9MQ2 2024: $132.8MQ3 2024: $133.4MQ4 2024: $141.9MQ1 2025: $136.0MQ2 2025: $155.8MQ3 2025: $172.0MQ4 2025: $170.7MQ1 2026: $165.5MQ2 2026: $195.1M
Q4 2023Q2 2026
13F filings of SFM, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 7, 202669$195.1MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETFvs. Q1 2026SEC
Q1 2026Apr 8, 202663$165.5MVanguard S&P 500 ETFVanguard Morningstar Mid-Cap ETFIAUMvs. Q4 2025SEC
Q4 2025Jan 23, 202660$170.7MVanguard S&P 500 ETFiShares Core S&P 500 ETFMSFTvs. Q3 2025SEC
Q3 2025Oct 15, 202561$172.0MVanguard S&P 500 ETFWisdomTree TriShares Core S&P 500 ETFvs. Q2 2025SEC
Q2 2025Jul 17, 202558$155.8MVanguard S&P 500 ETFWisdomTree TriShares Core S&P 500 ETFvs. Q1 2025SEC
Q1 2025Apr 17, 202556$136.0MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Apr 17, 202559$141.9MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETFvs. Q3 2024SEC
Q3 2024Apr 17, 202555$133.4MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETFvs. Q2 2024SEC
Q2 2024Apr 17, 202555$132.8MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETFvs. Q1 2024SEC
Q1 2024Apr 17, 202555$130.9MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETFvs. Q4 2023SEC
Q4 2023Apr 17, 202557$121.0MVanguard S&P 500 ETFWisdomTree TrVanguard Morningstar Mid-Cap ETF–SEC