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Livermore
Livermore
ZHEN

Horst & Graben Wealth Management LLC

SEC CIK
0001818207
Latest filing
Jul 22, 2026

The latest 13F from Horst & Graben Wealth Management LLC covers Q2 2026 (filed Jul 22, 2026): 205 long positions worth $760.2M. The top 10 holdings make up 46.7% of the portfolio, and the largest is State Street SPDR Portfolio S&P 500 ETF at 10.0%. 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
13
Est. +$33.6M
Added
77
Est. +$66.2M
Reduced
83
Est. −$95.4M
Sold out
3
Est. −$719.2K

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    10.0%$76.3M
  2. iShares Tr46434V613
    5.7%$43.2M
  3. BlackRock ETF Trust09290C103
    5.6%$42.6M
  4. iShares S&P 500 Growth ETF464287309
    4.7%$35.9M
  5. Schwab US Aggregate Bond ETF808524839
    4.5%$34.0M

Share of portfolio

Top 5 holdings and the other 200 positions, by share of portfolio value

  1. State Street SPDR Portfolio S&P 500 ETF10.0%
  2. iShares Tr5.7%
  3. BlackRock ETF Trust5.6%
  4. iShares S&P 500 Growth ETF4.7%
  5. Schwab US Aggregate Bond ETF4.5%
  6. Other 200 positions69.5%

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$29.3MAdded
  2. iShares Tr46434V613
    +$17.0MAdded
  3. BlackRock ETF Trust09290C665
    +$16.2MNew
  4. BlackRock ETF Trust II092528835
    +$9.80MNew
  5. iShares MSCI Acwi Ex U.S. ETF464288240
    +$4.39MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +3.86 pp6.2% → 10.0%
  2. BlackRock ETF Trust09290C665
    +2.13 pp0.0% → 2.1%
  3. iShares Tr46434V613
    +2.05 pp3.6% → 5.7%
  4. BlackRock ETF Trust II092528835
    +1.29 pp0.0% → 1.3%
  5. iShares MSCI Acwi Ex U.S. ETF464288240
    +0.54 pp2.3% → 2.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares MSCI USA Quality Factor ETF46432F339
    −$18.1MReduced
  2. iShares Tr464288877
    −$12.1MReduced
  3. iShares Tr46435G672
    −$9.28MReduced
  4. iShares Flexible Income Active ETF092528603
    −$8.22MReduced
  5. iShares Tr464287432
    −$5.90MReduced

Largest weight decreases

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

  1. iShares MSCI USA Quality Factor ETF46432F339
    −2.34 pp3.3% → 0.9%
  2. iShares Tr464288877
    −1.69 pp2.3% → 0.6%
  3. iShares Tr46435G672
    −1.29 pp1.4% → 0.1%
  4. iShares Flexible Income Active ETF092528603
    −1.16 pp1.7% → 0.6%
  5. Bondbloxx ETF Trust09789C812
    −0.88 pp2.8% → 1.9%

Metrics

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

Portfolio value
$760.2M
+$31.3M (+4.3%) vs. prior quarter
Positions
205
+10 vs. prior quarter
Top 10 concentration
46.7%
Top 10 as share of value
Turnover
12.9%
Q2 2026, one quarter
Average holding period
14.2 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 $760.2M (Q2 2026)

Q1 2021: $317.7MQ2 2021: $358.2MQ3 2021: $362.9MQ4 2021: $399.8MQ1 2022: $409.2MQ2 2022: $368.3MQ3 2022: $352.7MQ4 2022: $382.2MQ1 2023: $403.2MQ2 2023: $419.2MQ3 2023: $406.5MQ4 2023: $455.2MQ1 2024: $491.3MQ2 2024: $523.4MQ3 2024: $557.1MQ4 2024: $561.9MQ1 2025: $557.5MQ2 2025: $604.0MQ3 2025: $654.7MQ4 2025: $662.8MQ1 2026: $729.0MQ2 2026: $760.2M
Q1 2021Q2 2026
13F filings of Horst & Graben Wealth Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 22, 2026205$760.2MState Street SPDR Portfolio S&P 500 ETFiShares TrBlackRock ETF Trustvs. Q1 2026SEC
Q1 2026Apr 29, 2026195$729.0MState Street SPDR Portfolio S&P 500 ETFBlackRock ETF TrustiShares S&P 500 Growth ETFvs. Q4 2025SEC
Q4 2025Jan 27, 2026179$662.8MBlackRock ETF TrustState Street SPDR Portfolio S&P 500 ETFSchwab US Aggregate Bond ETFvs. Q3 2025SEC
Q3 2025Oct 16, 2025179$654.7MBlackRock ETF TrustiShares MSCI USA Quality Factor ETFSchwab US Aggregate Bond ETFvs. Q2 2025SEC
Q2 2025Jul 29, 2025173$604.0MiShares MSCI USA Quality Factor ETFBlackRock ETF TrustSchwab US Aggregate Bond ETFvs. Q1 2025SEC
Q1 2025Apr 30, 2025161$557.5MState Street SPDR Portfolio S&P 500 ETFiShares TrSchwab US Aggregate Bond ETFvs. Q4 2024SEC
Q4 2024Jan 24, 2025155$561.9MState Street SPDR Portfolio S&P 500 ETFiShares TrSchwab US Aggregate Bond ETFvs. Q3 2024SEC
Q3 2024Oct 21, 2024154$557.1MState Street SPDR Portfolio S&P 500 ETFiShares TrSchwab US Aggregate Bond ETFvs. Q2 2024SEC
Q2 2024Jul 23, 2024151$523.4MState Street SPDR Portfolio S&P 500 ETFiShares TrSchwab US Aggregate Bond ETFvs. Q1 2024SEC
Q1 2024Apr 22, 2024144$491.3MState Street SPDR Portfolio S&P 500 ETFiShares TrSchwab US Aggregate Bond ETFvs. Q4 2023SEC
Q4 2023Jan 29, 2024136$455.2MState Street SPDR Portfolio S&P 500 ETFSchwab US Aggregate Bond ETFiShares MSCI USA Quality Factor ETFvs. Q3 2023SEC
Q3 2023Oct 24, 2023134$406.5MState Street SPDR Portfolio S&P 500 ETFSchwab US Aggregate Bond ETFiShares MSCI USA Quality Factor ETFvs. Q2 2023SEC
Q2 2023Jul 25, 2023130$419.2MState Street SPDR Portfolio S&P 500 ETFSchwab US Aggregate Bond ETFiShares MSCI USA Quality Factor ETFvs. Q1 2023SEC
Q1 2023Apr 28, 2023131$403.2MState Street SPDR Portfolio S&P 500 ETFSchwab US Aggregate Bond ETFiShares Trvs. Q4 2022SEC
Q4 2022Jan 24, 2023126$382.2MState Street SPDR Portfolio S&P 500 ETFiShares TriShares Trvs. Q3 2022SEC
Q3 2022Oct 24, 2022123$352.7MState Street SPDR Portfolio S&P 500 ETFiShares U.S. Treasury Bond ETFiShares Trvs. Q2 2022SEC
Q2 2022Aug 1, 2022131$368.3MState Street SPDR Portfolio S&P 500 ETFiShares TriShares U.S. Treasury Bond ETFvs. Q1 2022SEC
Q1 2022Apr 27, 2022134$409.2MState Street SPDR Portfolio S&P 500 ETFiShares TriShares U.S. Treasury Bond ETFvs. Q4 2021SEC
Q4 2021Jan 20, 2022133$399.8MiShares TrState Street SPDR Portfolio S&P 500 ETFiShares Russell Top 200 Growth ETFvs. Q3 2021SEC
Q3 2021Nov 2, 2021135$362.9MiShares TrState Street SPDR Portfolio S&P 500 ETFiShares Trvs. Q2 2021SEC
Q2 2021Jul 20, 2021134$358.2MiShares TriShares U.S. Treasury Bond ETFiShares Trvs. Q1 2021SEC
Q1 2021Apr 20, 2021129$317.7MiShares TriShares Russell Top 200 Growth ETFiShares Tr–SEC