Financial Management, Inc.
- SEC CIK
- 0002143070
- Latest filing
- Aug 12, 2026
The latest 13F from Financial Management, Inc. covers Q2 2026 (filed Aug 12, 2026): 46 long positions worth $122.0M. The top 10 holdings make up 68.6% of the portfolio, and the largest is iShares Tr at 9.4%. 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.
- New
- 7
- Est. +$1.64M
- Added
- 29
- Est. +$4.27M
- Reduced
- 6
- Est. −$389.6K
- Sold out
- 0
Top 5 holdings
Share of this quarter's portfolio value
- iShares Tr46435G3269.4%$11.5M
- Invesco QQQ Trust Series I46090E1039.2%$11.2M
- iShares Tr46434V4568.4%$10.3M
- Franklin Templeton ETF Tr35473P8847.5%$9.16M
- State Street SPDR Portfolio Short Term Corporate Bond ETF78464A4747.1%$8.61M
Share of portfolio
Top 5 holdings and the other 41 positions, by share of portfolio value
- iShares Tr9.4%
- Invesco QQQ Trust Series I9.2%
- iShares Tr8.4%
- Franklin Templeton ETF Tr7.5%
- State Street SPDR Portfolio Short Term Corporate Bond ETF7.1%
- Other 41 positions58.4%
Biggest buys
New and added positions, by estimated amount bought
- SPDR Series Trust78468R408+$968.9KAdded
- iShares Tr46435G326+$841.0KAdded
- SPDR Index Shs FDS78463X509+$374.6KAdded
- INTCIntel Corp
- iShares Tr46434V456+$287.6KAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Invesco QQQ Trust Series I46090E103+0.98 pp8.2% → 9.2%
- First Tr Exchange-Traded Alp33737M300+0.69 pp4.4% → 5.1%
- Invesco S&P 500 Quality ETF46137V241+0.46 pp5.9% → 6.4%
- INTCIntel Corp
- Vanguard Information Technology ETF92204A702+0.19 pp0.0% → 0.2%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
Metrics
13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $122.0M
- +$15.5M (+14.6%) vs. prior quarter
- Positions
- 46
- +7 vs. prior quarter
- Top 10 concentration
- 68.6%
- Top 10 as share of value
- Turnover
- 0.3%
- 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 (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 $122.0M (Q2 2026)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | Aug 12, 2026 | 46 | $122.0M | iShares TrInvesco QQQ Trust Series IiShares Tr | vs. Q1 2026 | SEC |
| Q1 2026 | Jul 2, 2026 | 39 | $106.5M | iShares TriShares TrInvesco QQQ Trust Series I | vs. Q4 2025 | SEC |
| Q4 2025 | Jul 2, 2026 | 40 | $105.3M | iShares TrInvesco QQQ Trust Series IiShares Tr | – | SEC |