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Livermore
Livermore
ZHEN

Spectrum Asset Management, Inc. (NB/CA)

SEC CIK
0001632078
Latest filing
Jul 31, 2026

The latest 13F from Spectrum Asset Management, Inc. (NB/CA) covers Q2 2026 (filed Jul 31, 2026): 113 long positions worth $360.2M. The top 10 holdings make up 46.6% of the portfolio, and the largest is Wells Fargo & Company (WFC) at 9.3%. Livermore has 23 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
14
Est. +$30.5M
Added
39
Est. +$27.5M
Reduced
38
Est. −$7.45M
Sold out
8
Est. −$19.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. WFCWells Fargo & Company
    9.3%$33.7MHistory
  2. Invesco Exchange Traded FD T46137V357
    7.4%$26.8M
  3. Vanguard BD Index FDS92203C303
    6.7%$24.3M
  4. Schwab U.S. Large-Cap Value ETF808524409
    5.1%$18.3M
  5. First Tr Exchng Traded FD VI33740F730
    3.6%$12.9M

Share of portfolio

Top 5 holdings and the other 108 positions, by share of portfolio value

  1. WFC9.3%
  2. Invesco Exchange Traded FD T7.4%
  3. Vanguard BD Index FDS6.7%
  4. Schwab U.S. Large-Cap Value ETF5.1%
  5. First Tr Exchng Traded FD VI3.6%
  6. Other 108 positions67.8%

Biggest buys

New and added positions, by estimated amount bought

  1. Invesco Exchange Traded FD T46137V357
    +$10.9MAdded
  2. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +$9.48MNew
  3. First Tr Exchng Traded FD VI33740F730
    +$6.53MAdded
  4. First Tr Exchng Traded FD VI33740F714
    +$4.54MNew
  5. iShares Tr46436E718
    +$4.37MNew

Largest weight increases

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

  1. Invesco Exchange Traded FD T46137V357
    +2.88 pp4.6% → 7.4%
  2. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +2.63 pp0.0% → 2.6%
  3. First Tr Exchng Traded FD VI33740F730
    +1.65 pp1.9% → 3.6%
  4. First Tr Exchng Traded FD VI33740F714
    +1.26 pp0.0% → 1.3%
  5. iShares Tr46436E718
    +1.21 pp0.0% → 1.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ETF Opportunities Trust26923Q747
    −$10.0MSold out
  2. HONHoneywell International Inc
    −$4.01MSold outHistory
  3. AAAUGoldman Sachs Physical Gold ETF
    −$3.57MSold outHistory
  4. MDTMedtronic plc
    −$2.39MReducedHistory
  5. iShares Inc464286400
    −$826.7KSold out

Largest weight decreases

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

  1. ETF Opportunities Trust26923Q747
    −3.18 pp3.2% → 0.0%
  2. HONHoneywell International Inc
    −1.27 pp1.3% → 0.0%History
  3. WFCWells Fargo & Company
    −1.14 pp10.5% → 9.3%History
  4. IAUiShares Gold Trust
    −1.14 pp4.5% → 3.3%History
  5. AAAUGoldman Sachs Physical Gold ETF
    −1.13 pp1.1% → 0.0%History

Metrics

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

Portfolio value
$360.2M
+$45.4M (+14.4%) vs. prior quarter
Positions
113
+6 vs. prior quarter
Top 10 concentration
46.6%
Top 10 as share of value
Turnover
8.1%
Q2 2026, one quarter
Average holding period
11.2 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 $360.2M (Q2 2026)

Q1 2021: $324.4MQ2 2021: $334.0MQ3 2021: $325.4MQ4 2021: $354.6MQ1 2022: $254.9MQ2 2022: $202.5MQ3 2022: $195.4MQ4 2022: $206.3MQ1 2023: $202.0MQ2 2023: $201.0MQ3 2023: $190.4MQ4 2023: $225.8MQ1 2024: $233.2MQ2 2024: $216.2MQ3 2024: $236.4MQ4 2024: $222.6MQ1 2025: $225.1MQ2 2025: $230.1MQ3 2025: $284.4MQ4 2025: $299.8MQ1 2026: $314.8MQ2 2026: $360.2M
Q1 2021Q2 2026
13F filings of Spectrum Asset Management, Inc. (NB/CA) by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 31, 2026113$360.2MWFCInvesco Exchange Traded FD TVanguard BD Index FDSvs. Q1 2026SEC
Q1 2026Apr 22, 2026107$314.8MWFCVanguard BD Index FDSSchwab U.S. Large-Cap Value ETFvs. Q4 2025SEC
Q4 2025Jan 26, 2026105$299.8MVanguard BD Index FDSInvesco Exchange Traded FD TSeries Portfolios Trvs. Q3 2025SEC
Q3 2025Oct 23, 2025108$284.4MVanguard BD Index FDSInvesco Exchange Traded FD TSchwab U.S. Large-Cap Value ETFvs. Q2 2025SEC
Q2 2025Jul 23, 202596$230.1MiShares MSCI USA Min Vol Factor ETFInvesco Exchange Traded FD TSchwab U.S. Large-Cap Value ETFvs. Q1 2025SEC
Q1 2025Apr 16, 202584$225.1MSchwab U.S. Large-Cap Value ETFInvesco Exchange Traded FD TiShares Trvs. Q4 2024SEC
Q4 2024Jan 28, 202594$222.6MSchwab U.S. Large-Cap Value ETFInvesco Exchange Traded FD TSchwab U.S. Large-Cap Growth ETFvs. Q3 2024SEC
Q3 2024Oct 22, 202494$236.4MSchwab U.S. Large-Cap Value ETFIAUInvesco Exchange Traded FD Tvs. Q2 2024SEC
Q2 2024Jul 12, 202492$216.2MSchwab U.S. Large-Cap Value ETFIAUiShares MSCI USA Min Vol Factor ETFvs. Q1 2024SEC
Q1 2024Apr 23, 202498$233.2MSchwab U.S. Large-Cap Value ETFFirst Tr Exchng Traded FD VIFirst Tr Exchng Traded FD VIvs. Q4 2023SEC
Q4 2023Jan 25, 202488$225.8MSchwab U.S. Large-Cap Value ETFSchwab U.S. Large-Cap Growth ETFiShares Trvs. Q3 2023SEC
Q3 2023Oct 18, 202389$190.4MiShares U.S. Treasury Bond ETFSchwab U.S. Large-Cap Value ETFIAUvs. Q2 2023SEC
Q2 2023Aug 2, 202388$201.0MiShares U.S. Treasury Bond ETFSchwab U.S. Large-Cap Value ETFProShares Trvs. Q1 2023SEC
Q1 2023Apr 17, 202386$202.0MiShares U.S. Treasury Bond ETFSchwab U.S. Large-Cap Value ETFProShares Trvs. Q4 2022SEC
Q4 2022Jan 27, 202395$206.3MiShares U.S. Treasury Bond ETFSchwab U.S. Large-Cap Value ETFCVXvs. Q3 2022SEC
Q3 2022Oct 25, 202288$195.4MiShares U.S. Treasury Bond ETFProShares TrSchwab U.S. Large-Cap Value ETFvs. Q2 2022SEC
Q2 2022Jul 14, 202291$202.5MiShares U.S. Treasury Bond ETFProShares TrSchwab U.S. Large-Cap Value ETFvs. Q1 2022SEC
Q1 2022Apr 28, 2022111$254.9MSchwab U.S. Large-Cap Value ETFiShares TriShares U.S. Treasury Bond ETFvs. Q4 2021SEC
Q4 2021Feb 14, 2022123$354.6MSchwab U.S. Large-Cap Value ETFVanguard Scottsdale FDSiShares Trvs. Q3 2021SEC
Q3 2021Nov 12, 2021116$325.4MVanguard Scottsdale FDSSchwab U.S. Large-Cap Value ETFiShares Trvs. Q2 2021SEC
Q2 2021Aug 11, 2021118$334.0MVanguard Scottsdale FDSSchwab U.S. Large-Cap Value ETFVanguard Mortgage-Backed Securities ETFvs. Q1 2021SEC
Q1 2021Sep 10, 2021Amended118$324.4MSchwab U.S. Large-Cap Value ETFVanguard Scottsdale FDSVanguard Mortgage-Backed Securities ETF–SEC