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Livermore
Livermore
ZHEN

Golden State Wealth Management, LLC

SEC CIK
0001776033
Latest filing
Jul 22, 2026

The latest 13F from Golden State Wealth Management, LLC covers Q2 2026 (filed Jul 22, 2026): 1,620 long positions worth $1.10B. The top 10 holdings make up 30.1% of the portfolio, and the largest is iShares Core S&P 500 ETF at 7.3%. Livermore has 14 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
113
Est. +$17.9M
Added
524
Est. +$115.4M
Reduced
356
Est. −$64.2M
Sold out
102
Est. −$2.28M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    7.3%$80.1M
  2. SPYSPDR S&P 500 ETF Trust
    4.9%$53.3MHistory
  3. AAPLApple Inc.
    3.2%$34.8MHistory
  4. BlackRock ETF Trust09290C103
    2.5%$27.3M
  5. iShares Core U.S. Aggregate Bond ETF464287226
    2.3%$25.6M

Share of portfolio

Top 5 holdings and the other 1,615 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF7.3%
  2. SPY4.9%
  3. AAPL3.2%
  4. BlackRock ETF Trust2.5%
  5. iShares Core U.S. Aggregate Bond ETF2.3%
  6. Other 1,615 positions79.8%

Biggest buys

New and added positions, by estimated amount bought

  1. BlackRock ETF Trust09290C103
    +$14.9MAdded
  2. iShares Core MSCI Emerging Markets ETF46434G103
    +$11.0MAdded
  3. BlackRock ETF Trust09290C780
    +$8.90MAdded
  4. Invesco Exch Traded FD Tr II46138E537
    +$5.59MAdded
  5. BlackRock ETF Trust09290C806
    +$5.05MAdded

Largest weight increases

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

  1. BlackRock ETF Trust09290C103
    +1.33 pp1.2% → 2.5%
  2. iShares Core MSCI Emerging Markets ETF46434G103
    +1.00 pp0.3% → 1.3%
  3. BlackRock ETF Trust09290C780
    +0.87 pp0.2% → 1.0%
  4. Invesco Exch Traded FD Tr II46138E537
    +0.51 pp<0.1% → 0.5%
  5. BlackRock ETF Trust09290C806
    +0.46 pp0.2% → 0.6%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. First Tr Exchange-Traded FD33734H106
    −$5.88MReduced
  2. First Trust Rising Dividend Achievers ETF33738R506
    −$5.78MReduced
  3. American Centy ETF Tr025072307
    −$4.15MReduced
  4. AB Active ETFs Inc00039J772
    −$4.10MReduced
  5. Harbor ETF Trust41151J406
    −$4.00MReduced

Largest weight decreases

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

  1. First Tr Exchange-Traded FD33734H106
    −0.90 pp2.5% → 1.6%
  2. First Trust Rising Dividend Achievers ETF33738R506
    −0.54 pp1.4% → 0.9%
  3. American Centy ETF Tr025072307
    −0.48 pp1.6% → 1.1%
  4. AB Active ETFs Inc00039J772
    −0.47 pp0.6% → 0.1%
  5. Harbor ETF Trust41151J406
    −0.40 pp1.7% → 1.3%

Metrics

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

Portfolio value
$1.10B
+$181.6M (+19.9%) vs. prior quarter
Positions
1,620
+11 vs. prior quarter
Top 10 concentration
30.1%
Top 10 as share of value
Turnover
6.6%
Q2 2026, one quarter
Average holding period
6.6 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

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

Peak $1.10B (Q2 2026)

Q1 2021: $303.3MQ2 2021: $453.2MQ3 2021: $459.8MQ4 2021: $580.8MQ1 2022: $510.1MQ4 2024: $667.5MQ1 2025: $673.0MQ2 2025: $821.8MQ3 2025: $906.2MQ4 2025: $946.8MQ1 2026: $914.8MQ2 2026: $1.10B
Q1 2021Q2 2026
13F filings of Golden State Wealth Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 22, 20261,620$1.10BiShares Core S&P 500 ETFSPYAAPLvs. Q1 2026SEC
Q1 2026Apr 28, 20261,609$914.8MiShares Core S&P 500 ETFSPYAAPLvs. Q4 2025SEC
Q4 2025Feb 13, 20261,680$946.8MiShares Core S&P 500 ETFSPYAAPLvs. Q3 2025SEC
Q3 2025Nov 3, 20251,661$906.2MiShares Core S&P 500 ETFSPYAAPLvs. Q2 2025SEC
Q2 2025Aug 6, 20251,568$821.8MiShares Core S&P 500 ETFSPYAAPLvs. Q1 2025SEC
Q1 2025Apr 24, 2025Amended1,588$673.0MiShares Core S&P 500 ETFAAPLiShares Core U.S. Aggregate Bond ETFvs. Q4 2024SEC
Q4 2024Jan 28, 20251,513$667.5MiShares Core S&P 500 ETFAAPLiShares Core U.S. Aggregate Bond ETF–SEC
Q1 2022May 19, 2022Amended306$510.1MiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFAAPLvs. Q4 2021SEC
Q4 2021Feb 14, 2022361$580.8MiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFAAPLvs. Q3 2021SEC
Q3 2021Nov 15, 2021307$459.8MiShares Core U.S. Aggregate Bond ETFiShares Core S&P 500 ETFFirst Tr Exchange-Traded FDvs. Q2 2021SEC
Q2 2021Aug 12, 2021294$453.2MiShares Core U.S. Aggregate Bond ETFiShares Core S&P 500 ETFFirst Tr Exchange-Traded FDvs. Q1 2021SEC
Q1 2021May 14, 2021199$303.3MiShares Core U.S. Aggregate Bond ETFiShares Core S&P 500 ETFAAPL–SEC