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Livermore
Livermore
ZHEN

Twele Capital Management, Inc.

SEC CIK
0001411268
Latest filing
Jul 14, 2026

The latest 13F from Twele Capital Management, Inc. covers Q2 2026 (filed Jul 14, 2026): 40 long positions worth $612.3M. The top 10 holdings make up 74.4% of the portfolio, and the largest is iShares Core S&P 500 ETF at 11.4%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

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
1
Est. +$208.4K
Added
15
Est. +$18.6M
Reduced
22
Est. −$11.7M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    11.4%$69.7M
  2. Vanguard S&P 500 ETF922908363
    10.7%$65.8M
  3. Vanguard Total Bond Market ETF921937835
    9.7%$59.2M
  4. iShares Tr464287440
    8.4%$51.3M
  5. iShares Core U.S. Aggregate Bond ETF464287226
    8.3%$51.0M

Share of portfolio

Top 5 holdings and the other 35 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF11.4%
  2. Vanguard S&P 500 ETF10.7%
  3. Vanguard Total Bond Market ETF9.7%
  4. iShares Tr8.4%
  5. iShares Core U.S. Aggregate Bond ETF8.3%
  6. Other 35 positions51.5%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Total Bond Market ETF921937835
    +$4.27MAdded
  2. iShares Tr464287440
    +$4.25MAdded
  3. iShares Core U.S. Aggregate Bond ETF464287226
    +$3.98MAdded
  4. iShares Tr46435U853
    +$1.84MAdded
  5. Vanguard Scottsdale FDS92206C409
    +$1.07MAdded

Largest weight increases

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

  1. iShares Tr46435U853
    +0.23 pp0.9% → 1.1%
  2. iShares Tr464288414
    +0.08 pp0.2% → 0.3%
  3. iShares U.S. Treasury Bond ETF46429B267
    +0.06 pp0.6% → 0.7%
  4. iShares Tr464287432
    +0.03 pp0.0% → <0.1%
  5. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +0.03 pp0.2% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$3.74MReduced
  2. Vanguard S&P 500 ETF922908363
    −$2.03MReduced
  3. iShares Core MSCI Emerging Markets ETF46434G103
    −$1.29MReduced
  4. iShares Core S&P Small Cap ETF464287804
    −$1.14MReduced
  5. Vanguard High Dividend Yield Index ETF921946406
    −$813.2KReduced

Largest weight decreases

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

  1. Vanguard High Dividend Yield Index ETF921946406
    −0.31 pp7.9% → 7.6%
  2. iShares Tr464288513
    −0.28 pp3.4% → 3.2%
  3. Vanguard Mun BD FDS922907746
    −0.11 pp0.3% → 0.2%
  4. iShares Tr464288661
    −0.04 pp0.4% → 0.3%
  5. iShares Core S&P 500 ETF464287200
    −0.04 pp11.4% → 11.4%

Metrics

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

Portfolio value
$612.3M
+$51.4M (+9.2%) vs. prior quarter
Positions
40
+1 vs. prior quarter
Top 10 concentration
74.4%
Top 10 as share of value
Turnover
2.0%
Q2 2026, one quarter
Average holding period
21.7 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 (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $791.8M (Q4 2021)

Q1 2021: $624.7MQ2 2021: $644.7MQ3 2021: $759.6MQ4 2021: $791.8MQ1 2022: $738.5MQ2 2022: $635.1MQ3 2022: $579.0MQ4 2022: $609.3MQ1 2023: $611.9MQ2 2023: $620.4MQ3 2023: $582.9MQ4 2023: $622.6MQ1 2024: $442.0MQ2 2024: $441.1MQ3 2024: $476.4MQ4 2024: $471.7MQ1 2025: $471.6MQ2 2025: $504.0MQ3 2025: $541.9MQ4 2025: $559.6MQ1 2026: $560.9MQ2 2026: $612.3M
Q1 2021Q2 2026
13F filings of Twele Capital Management, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 14, 202640$612.3MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q1 2026SEC
Q1 2026Apr 7, 202639$560.9MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q4 2025SEC
Q4 2025Jan 9, 202639$559.6MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q3 2025SEC
Q3 2025Oct 16, 202539$541.9MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q2 2025SEC
Q2 2025Jul 8, 202539$504.0MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q1 2025SEC
Q1 2025Apr 10, 202539$471.6MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q4 2024SEC
Q4 2024Jan 14, 202540$471.7MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q3 2024SEC
Q3 2024Oct 8, 202440$476.4MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q2 2024SEC
Q2 2024Jul 11, 202439$441.1MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q1 2024SEC
Q1 2024Apr 15, 202437$442.0MiShares Core S&P 500 ETFVanguard S&P 500 ETFVanguard Total Bond Market ETFvs. Q4 2023SEC
Q4 2023Jan 16, 202442$622.6MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2023SEC
Q3 2023Oct 12, 202341$582.9MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2023SEC
Q2 2023Jul 24, 202339$620.4MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2023SEC
Q1 2023Apr 25, 202340$611.9MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2022SEC
Q4 2022Jan 31, 202340$609.3MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2022SEC
Q3 2022Oct 26, 202237$579.0MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2022SEC
Q2 2022Jul 19, 202241$635.1MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2022SEC
Q1 2022Apr 14, 202241$738.5MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2021SEC
Q4 2021Jan 26, 202241$791.8MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2021SEC
Q3 2021Oct 21, 202141$759.6MiShares TriShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2021SEC
Q2 2021Jul 20, 202141$644.7MiShares Core U.S. Aggregate Bond ETFiShares Core S&P 500 ETFVanguard Total Bond Market ETFvs. Q1 2021SEC
Q1 2021Apr 20, 202143$624.7MiShares Core U.S. Aggregate Bond ETFVanguard Total Bond Market ETFiShares Core S&P 500 ETF–SEC