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Livermore
Livermore
ZHEN

Gradient Capital Advisors, LLC

SEC CIK
0001727917
Latest filing
Jul 13, 2026

The latest 13F from Gradient Capital Advisors, LLC covers Q2 2026 (filed Jul 13, 2026): 179 long positions worth $431.8M. The top 10 holdings make up 36.2% of the portfolio, and the largest is iShares Core S&P 500 ETF at 9.1%. 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
9
Est. +$2.40M
Added
65
Est. +$7.90M
Reduced
65
Est. −$7.25M
Sold out
7
Est. −$2.06M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    9.1%$39.2M
  2. AAPLApple Inc.
    4.8%$20.6MHistory
  3. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    3.6%$15.6M
  4. Vanguard Scottsdale FDS92206C409
    3.3%$14.2M
  5. Dimensional ETF Trust25434V583
    3.0%$12.8M

Biggest buys

New and added positions, by estimated amount bought

  1. Dimensional ETF Trust25434V864
    +$1.12MAdded
  2. Dimensional ETF Trust25434V583
    +$971.1KAdded
  3. BRK.BBerkshire Hathaway Inc
    +$656.0KAddedHistory
  4. iShares Tr46436E718
    +$532.9KAdded
  5. XOMExxonMobil Holdings Corp
    +$505.7KNewHistory

Largest weight increases

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

  1. GOOGLAlphabet Inc.
    +0.30 pp1.9% → 2.2%History
  2. iShares Inc46434G764
    +0.19 pp0.8% → 1.0%
  3. CSCOCisco Systems, Inc.
    +0.18 pp0.5% → 0.7%History
  4. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +0.15 pp0.5% → 0.7%History
  5. XOMExxonMobil Holdings Corp
    +0.12 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LRCXLam Research Corp
    −$2.16MReducedHistory
  2. XOMExxonMobil Holdings Corp
    −$627.0KSold outHistory
  3. iShares Core S&P 500 ETF464287200
    −$389.4KReduced
  4. Schwab U.S. Mid-Cap ETF808524508
    −$339.7KReduced
  5. CEGConstellation Energy Corp
    −$305.9KSold outHistory

Largest weight decreases

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

  1. XOMExxonMobil Holdings Corp
    −0.16 pp0.2% → 0.0%History
  2. MSFTMicrosoft Corp
    −0.16 pp1.3% → 1.2%History
  3. GLDMWorld Gold Trust
    −0.15 pp0.6% → 0.5%History
  4. METAMeta Platforms, Inc.
    −0.14 pp0.9% → 0.8%History
  5. SLViShares Silver Trust
    −0.13 pp0.4% → 0.3%History

Metrics

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

Portfolio value
$431.8M
+$46.0M (+11.9%) vs. prior quarter
Positions
179
+2 vs. prior quarter
Top 10 concentration
36.2%
Top 10 as share of value
Turnover
2.3%
Q2 2026, one quarter
Average holding period
19.1 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 $431.8M (Q2 2026)

Q1 2021: $188.9MQ2 2021: $213.4MQ3 2021: $218.0MQ4 2021: $240.2MQ1 2022: $236.0MQ2 2022: $208.4MQ3 2022: $209.4MQ4 2022: $220.1MQ1 2023: $235.2MQ2 2023: $249.4MQ3 2023: $239.2MQ4 2023: $262.6MQ1 2024: $272.4MQ2 2024: $279.8MQ3 2024: $302.0MQ4 2024: $310.2MQ1 2025: $306.4MQ2 2025: $338.5MQ3 2025: $373.1MQ4 2025: $388.0MQ1 2026: $385.8MQ2 2026: $431.8M
Q1 2021Q2 2026
13F filings of Gradient Capital Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 13, 2026179$431.8MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q1 2026SEC
Q1 2026Apr 16, 2026177$385.8MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q4 2025SEC
Q4 2025Feb 6, 2026174$388.0MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q3 2025SEC
Q3 2025Oct 27, 2025167$373.1MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q2 2025SEC
Q2 2025Jul 16, 2025162$338.5MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q1 2025SEC
Q1 2025May 5, 2025155$306.4MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q4 2024SEC
Q4 2024Jan 29, 2025152$310.2MiShares Core S&P 500 ETFAAPLVanguard Scottsdale FDSvs. Q3 2024SEC
Q3 2024Oct 16, 2024148$302.0MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q2 2024SEC
Q2 2024Jul 22, 2024140$279.8MiShares Core S&P 500 ETFAAPLVanguard Scottsdale FDSvs. Q1 2024SEC
Q1 2024Apr 17, 2024139$272.4MiShares Core S&P 500 ETFAAPLState Street SPDR Portfolio Developed World Ex-US ETFvs. Q4 2023SEC
Q4 2023Feb 1, 2024142$262.6MiShares Core S&P 500 ETFAAPLSchwab International Equity ETFvs. Q3 2023SEC
Q3 2023Oct 25, 2023136$239.2MiShares Core S&P 500 ETFAAPLSchwab International Equity ETFvs. Q2 2023SEC
Q2 2023Jul 19, 2023139$249.4MiShares Core S&P 500 ETFAAPLSchwab International Equity ETFvs. Q1 2023SEC
Q1 2023Apr 18, 2023138$235.2MiShares Core S&P 500 ETFAAPLSchwab International Equity ETFvs. Q4 2022SEC
Q4 2022Feb 6, 2023133$220.1MiShares Core S&P 500 ETFAAPLSchwab International Equity ETFvs. Q3 2022SEC
Q3 2022Nov 7, 2022129$209.4MiShares Core S&P 500 ETFAAPLVanguard Malvern FDSvs. Q2 2022SEC
Q2 2022Jul 18, 2022112$208.4MiShares Core S&P 500 ETFAAPLVanguard Malvern FDSvs. Q1 2022SEC
Q1 2022Apr 29, 2022123$236.0MiShares Core S&P 500 ETFAAPLVanguard Malvern FDSvs. Q4 2021SEC
Q4 2021Jan 31, 2022121$240.2MiShares Core S&P 500 ETFAAPLJPMorgan Ultra-Short Income ETFvs. Q3 2021SEC
Q3 2021Nov 2, 2021118$218.0MiShares Core S&P 500 ETFAAPLJPMorgan Ultra-Short Income ETFvs. Q2 2021SEC
Q2 2021Aug 2, 2021118$213.4MiShares Core S&P 500 ETFAAPLJPMorgan Ultra-Short Income ETFvs. Q1 2021SEC
Q1 2021Apr 21, 2021106$188.9MiShares Core S&P 500 ETFJPMorgan Ultra-Short Income ETFAAPL–SEC