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Livermore
Livermore
ZHEN

KWB Wealth

SEC CIK
0001822236
Latest filing
Jul 10, 2026

The latest 13F from KWB Wealth covers Q2 2026 (filed Jul 10, 2026): 169 long positions worth $1.17B. The top 10 holdings make up 46.6% of the portfolio, and the largest is State Street SPDR Portfolio S&P 500 ETF at 12.9%. 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
19
Est. +$49.4M
Added
73
Est. +$163.6M
Reduced
64
Est. −$123.7M
Sold out
16
Est. −$21.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    12.9%$151.2M
  2. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    8.1%$95.0M
  3. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    7.1%$83.0M
  4. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    3.4%$39.8M
  5. Capital Group Core Balanced14021D107
    3.0%$35.1M

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$54.1MAdded
  2. Invesco Exch Traded FD Tr II46138E214
    +$23.0MAdded
  3. BlackRock ETF Trust09290C855
    +$13.5MNew
  4. Capital Group Equity ETF Tr14022A102
    +$12.5MNew
  5. Capital Group Core Balanced14021D107
    +$9.68MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +4.16 pp8.8% → 12.9%
  2. Invesco Exch Traded FD Tr II46138E214
    +1.97 pp0.1% → 2.0%
  3. BlackRock ETF Trust09290C855
    +1.16 pp0.0% → 1.2%
  4. Capital Group Equity ETF Tr14022A102
    +1.07 pp0.0% → 1.1%
  5. BlackRock ETF Trust09290C665
    +0.79 pp0.0% → 0.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BlackRock ETF Trust09290C103
    −$23.5MReduced
  2. iShares MSCI USA Quality Factor ETF46432F339
    −$16.6MSold out
  3. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −$15.9MReduced
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    −$12.9MReduced
  5. iShares Tr46435G409
    −$10.1MReduced

Largest weight decreases

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

  1. BlackRock ETF Trust09290C103
    −2.17 pp4.8% → 2.6%
  2. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −2.05 pp9.1% → 7.1%
  3. iShares MSCI USA Quality Factor ETF46432F339
    −1.64 pp1.6% → 0.0%
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    −1.45 pp9.6% → 8.1%
  5. Janus Detroit STR Tr47103U852
    −1.19 pp2.8% → 1.6%

Metrics

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

Portfolio value
$1.17B
+$158.1M (+15.6%) vs. prior quarter
Positions
169
+3 vs. prior quarter
Top 10 concentration
46.6%
Top 10 as share of value
Turnover
13.3%
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 $1.17B (Q2 2026)

Q1 2021: $523.4MQ2 2021: $521.2MQ3 2021: $563.0MQ4 2021: $601.7MQ1 2022: $600.0MQ2 2022: $519.3MQ3 2022: $501.0MQ4 2022: $526.1MQ1 2023: $542.1MQ2 2023: $632.4MQ3 2023: $623.2MQ4 2023: $693.2MQ1 2024: $743.1MQ2 2024: $727.0MQ3 2024: $767.2MQ4 2024: $806.9MQ1 2025: $828.9MQ2 2025: $822.9MQ3 2025: $904.7MQ4 2025: $1.06BQ1 2026: $1.01BQ2 2026: $1.17B
Q1 2021Q2 2026
13F filings of KWB Wealth by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 10, 2026169$1.17BState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2026SEC
Q1 2026Apr 8, 2026166$1.01BState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 ETFvs. Q4 2025SEC
Q4 2025Jan 12, 2026175$1.06BState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 ETFvs. Q3 2025SEC
Q3 2025Oct 8, 2025147$904.7MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 ETFvs. Q2 2025SEC
Q2 2025Jul 17, 2025156$822.9MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2025SEC
Q1 2025Apr 10, 2025149$828.9MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q4 2024SEC
Q4 2024Jan 14, 2025141$806.9MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2024SEC
Q3 2024Oct 7, 2024132$767.2MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q2 2024SEC
Q2 2024Jul 24, 2024129$727.0MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2024SEC
Q1 2024Apr 19, 2024129$743.1MState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q4 2023SEC
Q4 2023Jan 10, 2024129$693.2MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio Aggregate Bond ETFvs. Q3 2023SEC
Q3 2023Oct 11, 2023123$623.2MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio Aggregate Bond ETFState Street SPDR Portfolio S&P 500 ETFvs. Q2 2023SEC
Q2 2023Jul 24, 2023124$632.4MState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio Aggregate Bond ETFState Street SPDR Portfolio S&P 500 ETFvs. Q1 2023SEC
Q1 2023Apr 7, 2023119$542.1MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFvs. Q4 2022SEC
Q4 2022Feb 10, 2023111$526.1MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFvs. Q3 2022SEC
Q3 2022Nov 14, 2022104$501.0MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR S&P 600 Small Cap Value ETFvs. Q2 2022SEC
Q2 2022Aug 10, 2022103$519.3MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q1 2022SEC
Q1 2022May 10, 202290$600.0MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q4 2021SEC
Q4 2021Feb 2, 202290$601.7MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2021SEC
Q3 2021Nov 12, 202186$563.0MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q2 2021SEC
Q2 2021Aug 10, 202185$521.2MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q1 2021SEC
Q1 2021May 10, 202185$523.4MState Street SPDR Portfolio S&P 500 ETFState Street SPDR Portfolio S&P 500 Value ETFState Street SPDR Portfolio S&P 500 Growth ETF–SEC