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Livermore
Livermore
ZHEN

Sound Portfolio Advisors, LLC

SEC CIK
0002109204
Latest filing
Aug 6, 2026

The latest 13F from Sound Portfolio Advisors, LLC covers Q2 2026 (filed Aug 6, 2026): 48 long positions worth $140.9M. The top 10 holdings make up 71.7% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 19.9%. Livermore has 3 filings on Form 13F from this institution, going back to Q4 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
6
Est. +$13.1M
Added
11
Est. +$9.41M
Reduced
18
Est. −$16.0M
Sold out
2
Est. −$408.3K

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    19.9%$28.0M
  2. Schwab Fundamental International Equity ETF808524755
    13.5%$19.0M
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    10.0%$14.0M
  4. iShares MSCI USA Momentum Factor ETF46432F396
    6.3%$8.85M
  5. Fidelity Covington Trust31609A503
    4.3%$6.10M

Share of portfolio

Top 5 holdings and the other 43 positions, by share of portfolio value

  1. Vanguard Morningstar Total Stock Market ETF19.9%
  2. Schwab Fundamental International Equity ETF13.5%
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF10.0%
  4. iShares MSCI USA Momentum Factor ETF6.3%
  5. Fidelity Covington Trust4.3%
  6. Other 43 positions46.1%

Biggest buys

New and added positions, by estimated amount bought

  1. Janus Detroit STR Tr47103U845
    +$4.50MNew
  2. VanEck ETF Trust92189F130
    +$3.67MNew
  3. iShares U.S. Treasury Bond ETF46429B267
    +$2.57MNew
  4. First Tr Exchange-Traded FD33733E732
    +$2.03MAdded
  5. iShares Inc46434G764
    +$1.72MAdded

Largest weight increases

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

  1. Janus Detroit STR Tr47103U845
    +3.19 pp0.0% → 3.2%
  2. VanEck ETF Trust92189F130
    +2.60 pp0.0% → 2.6%
  3. iShares U.S. Treasury Bond ETF46429B267
    +1.82 pp0.0% → 1.8%
  4. First Tr Exchange-Traded FD33733E732
    +1.44 pp0.2% → 1.6%
  5. iShares MSCI USA Momentum Factor ETF46432F396
    +1.39 pp4.9% → 6.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −$8.28MReduced
  2. Morgan Stanley ETF Trust61774R205
    −$4.02MReduced
  3. Schwab Fundamental International Equity ETF808524755
    −$1.30MReduced
  4. Cambria ETF Tr132061706
    −$842.2KReduced
  5. iShares MSCI USA Min Vol Factor ETF46429B697
    −$780.1KReduced

Largest weight decreases

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

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −8.17 pp18.1% → 10.0%
  2. Morgan Stanley ETF Trust61774R205
    −2.71 pp4.5% → 1.8%
  3. Schwab Fundamental International Equity ETF808524755
    −1.81 pp15.3% → 13.5%
  4. iShares MSCI USA Min Vol Factor ETF46429B697
    −1.01 pp5.0% → 4.0%
  5. Cambria ETF Tr132061706
    −0.80 pp4.7% → 3.9%

Metrics

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

Portfolio value
$140.9M
+$17.8M (+14.5%) vs. prior quarter
Positions
48
+4 vs. prior quarter
Top 10 concentration
71.7%
Top 10 as share of value
Turnover
12.4%
Q2 2026, one quarter
Average holding period
2.7 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 2025), so positions held before then are understated.

13F filings by quarter

3 quarters, going back to Q4 2025. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $140.9M (Q2 2026)

Q4 2025: $119.1MQ1 2026: $123.1MQ2 2026: $140.9M
Q4 2025Q2 2026
13F filings of Sound Portfolio Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 202648$140.9MVanguard Morningstar Total Stock Market ETFSchwab Fundamental International Equity ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q1 2026SEC
Q1 2026May 4, 202644$123.1MVanguard Morningstar Total Stock Market ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFSchwab Fundamental International Equity ETFvs. Q4 2025SEC
Q4 2025Feb 5, 202633$119.1MVanguard Morningstar Total Stock Market ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFSchwab Fundamental International Equity ETF–SEC