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Livermore
Livermore
ZHEN

United Bank

SEC CIK
0001697791
Latest filing
Aug 10, 2026

The latest 13F from United Bank covers Q2 2026 (filed Aug 10, 2026): 122 long positions worth $328.9M. The top 10 holdings make up 37.3% of the portfolio, and the largest is State Street Technology Select Sector SPDR ETF at 4.9%. 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
6
Est. +$1.74M
Added
49
Est. +$12.3M
Reduced
54
Est. −$11.1M
Sold out
8
Est. −$4.35M

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street Technology Select Sector SPDR ETF81369Y803
    4.9%$16.1M
  2. GOOGLAlphabet Inc.
    4.8%$15.8MHistory
  3. AAPLApple Inc.
    4.2%$13.9MHistory
  4. NVDANVIDIA Corp
    4.0%$13.3MHistory
  5. Flexshares Tr33939L795
    3.7%$12.2M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P Mid-Cap ETF464287507
    +$3.97MAdded
  2. AVGOBroadcom Inc.
    +$1.05MAddedHistory
  3. GLDSPDR Gold Trust
    +$613.7KAddedHistory
  4. PEPPepsiCo Inc
    +$533.5KAddedHistory
  5. SPGIS&P Global Inc.
    +$475.7KNewHistory

Largest weight increases

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

  1. iShares Core S&P Mid-Cap ETF464287507
    +1.29 pp1.9% → 3.2%
  2. State Street Technology Select Sector SPDR ETF81369Y803
    +1.20 pp3.7% → 4.9%
  3. MUMicron Technology Inc
    +0.50 pp0.2% → 0.7%History
  4. CATCaterpillar Inc
    +0.44 pp1.2% → 1.6%History
  5. AVGOBroadcom Inc.
    +0.43 pp0.9% → 1.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ABTAbbott Laboratories
    −$1.95MReducedHistory
  2. HONHoneywell International Inc
    −$1.66MSold outHistory
  3. NSCNorfolk Southern Corp
    −$865.4KReducedHistory
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    −$821.1KReduced
  5. INTCIntel Corp
    −$792.4KReducedHistory

Largest weight decreases

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

  1. ABTAbbott Laboratories
    −0.81 pp1.1% → 0.3%History
  2. Flexshares Tr33939L407
    −0.73 pp3.9% → 3.1%
  3. HONHoneywell International Inc
    −0.55 pp0.6% → 0.0%History
  4. MSFTMicrosoft Corp
    −0.42 pp3.1% → 2.7%History
  5. XOMExxonMobil Holdings Corp
    −0.41 pp1.3% → 0.9%History

Metrics

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

Portfolio value
$328.9M
+$28.2M (+9.4%) vs. prior quarter
Positions
122
−2 vs. prior quarter
Top 10 concentration
37.3%
Top 10 as share of value
Turnover
4.5%
Q2 2026, one quarter
Average holding period
18.5 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 $328.9M (Q2 2026)

Q1 2021: $142.5MQ2 2021: $148.4MQ3 2021: $157.7MQ4 2021: $186.5MQ1 2022: $188.6MQ2 2022: $161.0MQ3 2022: $150.2MQ4 2022: $163.0MQ1 2023: $170.7MQ2 2023: $175.6MQ3 2023: $167.3MQ4 2023: $181.3MQ1 2024: $196.7MQ2 2024: $200.4MQ3 2024: $216.8MQ4 2024: $236.7MQ1 2025: $242.0MQ2 2025: $261.3MQ3 2025: $287.8MQ4 2025: $294.9MQ1 2026: $300.6MQ2 2026: $328.9M
Q1 2021Q2 2026
13F filings of United Bank by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 10, 2026122$328.9MState Street Technology Select Sector SPDR ETFGOOGLAAPLvs. Q1 2026SEC
Q1 2026May 1, 2026124$300.6MGOOGLAAPLFlexshares Trvs. Q4 2025SEC
Q4 2025Feb 5, 2026124$294.9MGOOGLAAPLNVDAvs. Q3 2025SEC
Q3 2025Nov 12, 2025119$287.8MNVDAAAPLGOOGLvs. Q2 2025SEC
Q2 2025Jul 29, 2025116$261.3MNVDAMSFTFlexshares Trvs. Q1 2025SEC
Q1 2025May 6, 2025113$242.0MFlexshares TrAAPLFlexshares Trvs. Q4 2024SEC
Q4 2024Feb 12, 2025108$236.7MFlexshares TrAAPLNVDAvs. Q3 2024SEC
Q3 2024Nov 1, 2024103$216.8MFlexshares TrAAPLMSFTvs. Q2 2024SEC
Q2 2024Jul 23, 202494$200.4MFlexshares TrNVDAAAPLvs. Q1 2024SEC
Q1 2024May 10, 202495$196.7MFlexshares TrFlexshares TrAAPLvs. Q4 2023SEC
Q4 2023Feb 13, 202490$181.3MFlexshares TrFlexshares TrAAPLvs. Q3 2023SEC
Q3 2023Oct 27, 202389$167.3MFlexshares TrFlexshares TrAAPLvs. Q2 2023SEC
Q2 2023Aug 7, 202390$175.6MFlexshares TrFlexshares TrAAPLvs. Q1 2023SEC
Q1 2023May 12, 202386$170.7MFlexshares TrFlexshares TrAAPLvs. Q4 2022SEC
Q4 2022Feb 10, 202385$163.0MFlexshares TrFlexshares TrAAPLvs. Q3 2022SEC
Q3 2022Nov 10, 202285$150.2MFlexshares TrFlexshares TrAAPLvs. Q2 2022SEC
Q2 2022Aug 5, 202286$161.0MFlexshares TrFlexshares TrAAPLvs. Q1 2022SEC
Q1 2022May 9, 202289$188.6MFlexshares TrFlexshares TrVanguard Real Estate ETFvs. Q4 2021SEC
Q4 2021Feb 11, 202291$186.5MFlexshares TrVanguard Real Estate ETFAAPLvs. Q3 2021SEC
Q3 2021Nov 12, 202185$157.7MVanguard Real Estate ETFSPDR Index Shs FDSAAPLvs. Q2 2021SEC
Q2 2021Jul 26, 202184$148.4MVanguard Real Estate ETFAAPLFlexshares Trvs. Q1 2021SEC
Q1 2021May 12, 202182$142.5MVanguard Real Estate ETFSPDR Index Shs FDSAAPL–SEC