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Livermore
Livermore
ZHEN

Bernicke Wealth Management, Ltd.

SEC CIK
0001569863
Latest filing
Aug 11, 2026

The latest 13F from Bernicke Wealth Management, Ltd. covers Q2 2026 (filed Aug 11, 2026): 111 long positions worth $861.3M. The top 10 holdings make up 81.8% of the portfolio, and the largest is Dimensional ETF Trust at 18.8%. 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
11
Est. +$3.49M
Added
39
Est. +$19.4M
Reduced
41
Est. −$3.01M
Sold out
3
Est. −$919.4K

Top 5 holdings

Share of this quarter's portfolio value

  1. Dimensional ETF Trust25434V625
    18.8%$162.2M
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    17.4%$149.5M
  3. Dimensional ETF Trust25434V799
    9.6%$83.0M
  4. Invesco Exchange Traded FD T46137V357
    9.5%$81.8M
  5. iShares Tr464288257
    8.8%$76.1M

Share of portfolio

Top 5 holdings and the other 106 positions, by share of portfolio value

  1. Dimensional ETF Trust18.8%
  2. Vanguard Intermediate-Term Corporate Bond ETF17.4%
  3. Dimensional ETF Trust9.6%
  4. Invesco Exchange Traded FD T9.5%
  5. iShares Tr8.8%
  6. Other 106 positions35.9%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$7.10MAdded
  2. Invesco Exchange Traded FD T46137V357
    +$2.44MAdded
  3. Dimensional ETF Trust25434V625
    +$1.64MAdded
  4. Dimensional U.S. Small Cap ETF25434V500
    +$1.37MAdded
  5. J P Morgan Exchange Traded F46641Q878
    +$1.31MAdded

Largest weight increases

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

  1. Dimensional ETF Trust25434V625
    +0.59 pp18.2% → 18.8%
  2. Dimensional U.S. Small Cap ETF25434V500
    +0.46 pp7.5% → 8.0%
  3. iShares Tr464288257
    +0.30 pp8.5% → 8.8%
  4. Invesco Exchange Traded FD T46137V357
    +0.25 pp9.2% → 9.5%
  5. GOOGLAlphabet Inc.
    +0.14 pp1.1% → 1.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$490.3KSold outHistory
  2. MSFTMicrosoft Corp
    −$443.5KReducedHistory
  3. HALHalliburton Co
    −$224.3KSold outHistory
  4. PGProcter & Gamble Co
    −$211.6KReducedHistory
  5. NOWServiceNow, Inc.
    −$204.8KSold outHistory

Largest weight decreases

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

  1. MSFTMicrosoft Corp
    −0.13 pp0.9% → 0.7%History
  2. HONHoneywell International Inc
    −0.06 pp0.1% → 0.0%History
  3. COSTCostco Wholesale Corp
    −0.06 pp0.3% → 0.3%History
  4. METAMeta Platforms, Inc.
    −0.05 pp0.4% → 0.3%History
  5. PGProcter & Gamble Co
    −0.04 pp0.2% → 0.2%History

Metrics

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

Portfolio value
$861.3M
+$87.3M (+11.3%) vs. prior quarter
Positions
111
+8 vs. prior quarter
Top 10 concentration
81.8%
Top 10 as share of value
Turnover
0.5%
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 $861.3M (Q2 2026)

Q4 2025: $778.5MQ1 2026: $774.1MQ2 2026: $861.3M
Q4 2025Q2 2026
13F filings of Bernicke Wealth Management, Ltd. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 11, 2026111$861.3MDimensional ETF TrustVanguard Intermediate-Term Corporate Bond ETFDimensional ETF Trustvs. Q1 2026SEC
Q1 2026Aug 11, 2026103$774.1MVanguard Intermediate-Term Corporate Bond ETFDimensional ETF TrustDimensional ETF Trustvs. Q4 2025SEC
Q4 2025Aug 11, 2026100$778.5MVanguard Intermediate-Term Corporate Bond ETFDimensional ETF TrustDimensional ETF Trust–SEC