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Livermore
Livermore
ZHEN

Kennicott Capital Management LLC

SEC CIK
0001863265
Latest filing
Jul 10, 2026

The latest 13F from Kennicott Capital Management LLC covers Q2 2026 (filed Jul 10, 2026): 46 long positions worth $215.9M. The top 10 holdings make up 79.1% of the portfolio, and the largest is Invesco QQQ Trust Series I at 24.8%. 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
2
Est. +$572.5K
Added
8
Est. +$9.28M
Reduced
15
Est. −$9.15M
Sold out
2
Est. −$399.3K

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco QQQ Trust Series I46090E103
    24.8%$53.5M
  2. Vanguard Morningstar Large-Cap ETF922908637
    11.2%$24.1M
  3. Vanguard Morningstar Growth ETF922908736
    10.6%$22.8M
  4. SPYSPDR S&P 500 ETF Trust
    8.6%$18.6MHistory
  5. iShares Tr46436E718
    7.0%$15.1M

Share of portfolio

Top 5 holdings and the other 41 positions, by share of portfolio value

  1. Invesco QQQ Trust Series I24.8%
  2. Vanguard Morningstar Large-Cap ETF11.2%
  3. Vanguard Morningstar Growth ETF10.6%
  4. SPY8.6%
  5. iShares Tr7.0%
  6. Other 41 positions37.9%

Biggest buys

New and added positions, by estimated amount bought

  1. Invesco QQQ Trust Series I46090E103
    +$8.53MAdded
  2. BXMTBlackstone Mortgage Trust, Inc.
    +$337.3KNewHistory
  3. TWLOTwilio Inc
    +$235.2KNewHistory
  4. CIMChimera Investment Corp
    +$224.6KAddedHistory
  5. iShares Tr464287788
    +$183.6KAdded

Largest weight increases

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

  1. Invesco QQQ Trust Series I46090E103
    +5.54 pp19.3% → 24.8%
  2. BXMTBlackstone Mortgage Trust, Inc.
    +0.16 pp0.0% → 0.2%History
  3. TWLOTwilio Inc
    +0.11 pp0.0% → 0.1%History
  4. CIMChimera Investment Corp
    +0.09 pp0.1% → 0.2%History
  5. iShares Tr464287754
    +0.03 pp0.6% → 0.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Growth ETF922908736
    −$7.09MReducedConverted for a 6-for-1 split
  2. iShares Tr46436E718
    −$756.6KReduced
  3. Invesco S&P 500 Equal Weight Technology ETF46137V282
    −$596.6KReduced
  4. MSFTMicrosoft Corp
    −$279.5KSold outHistory
  5. Vanguard Morningstar Large-Cap ETF922908637
    −$178.1KReduced

Largest weight decreases

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

  1. Vanguard Morningstar Growth ETF922908736
    −3.23 pp13.8% → 10.6%
  2. iShares Tr46436E718
    −1.66 pp8.7% → 7.0%
  3. Vanguard Morningstar Large-Cap ETF922908637
    −0.36 pp11.5% → 11.2%
  4. State Street Consumer Discretionary Select Sector SPDR ETF81369Y407
    −0.25 pp2.2% → 2.0%
  5. State Street Consumer Staples Select Sector SPDR ETF81369Y308
    −0.21 pp1.2% → 1.0%

Metrics

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

Portfolio value
$215.9M
+$32.8M (+17.9%) vs. prior quarter
Positions
46
0 vs. prior quarter
Top 10 concentration
79.1%
Top 10 as share of value
Turnover
4.8%
Q2 2026, one quarter
Average holding period
19.6 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

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

Peak $260.7M (Q3 2024)

Q1 2021: $120.7MQ2 2021: $134.5MQ3 2021: $137.7MQ4 2021: $165.6MQ1 2022: $173.2MQ2 2022: $130.6MQ3 2022: $124.3MQ4 2022: $130.9MQ1 2023: $161.7MQ2 2023: $195.0MQ3 2023: $175.3MQ4 2023: $202.5MQ1 2024: $226.1MQ2 2024: $240.5MQ3 2024: $260.7MQ4 2024: $194.5MQ1 2025: $153.3MQ2 2025: $175.3MQ3 2025: $207.2MQ4 2025: $206.2MQ1 2026: $183.1MQ2 2026: $215.9M
Q1 2021Q2 2026
13F filings of Kennicott Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 10, 202646$215.9MInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFVanguard Morningstar Growth ETFvs. Q1 2026SEC
Q1 2026Apr 20, 202646$183.1MInvesco QQQ Trust Series IVanguard Morningstar Growth ETFVanguard Morningstar Large-Cap ETFvs. Q4 2025SEC
Q4 2025Feb 13, 202647$206.2MInvesco QQQ Trust Series IVanguard Morningstar Growth ETFVanguard Morningstar Large-Cap ETFvs. Q3 2025SEC
Q3 2025Oct 31, 202549$207.2MInvesco QQQ Trust Series IVanguard Morningstar Growth ETFVanguard Morningstar Large-Cap ETFvs. Q2 2025SEC
Q2 2025Jul 16, 202549$175.3MInvesco QQQ Trust Series IVanguard Morningstar Growth ETFVanguard Morningstar Large-Cap ETFvs. Q1 2025SEC
Q1 2025Apr 17, 202542$153.3MInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFSPYvs. Q4 2024SEC
Q4 2024Jan 16, 202541$194.5MInvesco QQQ Trust Series ISPYVanguard Morningstar Large-Cap ETFvs. Q3 2024SEC
Q3 2024Oct 21, 202444$260.7MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q2 2024SEC
Q2 2024Jul 16, 202441$240.5MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q1 2024SEC
Q1 2024Apr 25, 202442$226.1MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q4 2023SEC
Q4 2023Feb 2, 202440$202.5MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q3 2023SEC
Q3 2023Nov 15, 202336$175.3MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q2 2023SEC
Q2 2023Aug 9, 202341$195.0MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q1 2023SEC
Q1 2023May 11, 202341$161.7MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q4 2022SEC
Q4 2022Feb 14, 202339$130.9MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q3 2022SEC
Q3 2022Oct 19, 202241$124.3MInvesco QQQ Trust Series IInvesco Nasdaq 100 ETFiShares Core S&P 500 ETFvs. Q2 2022SEC
Q2 2022Jul 11, 202239$130.6MInvesco QQQ Trust Series IiShares Core S&P 500 ETFSPYvs. Q1 2022SEC
Q1 2022Apr 26, 202245$173.2MSPYInvesco QQQ Trust Series IiShares Core S&P 500 ETFvs. Q4 2021SEC
Q4 2021Jan 13, 202245$165.6MSPYInvesco QQQ Trust Series IVanguard Morningstar Large-Cap ETFvs. Q3 2021SEC
Q3 2021Nov 4, 202149$137.7MInvesco QQQ Trust Series ISPYVanguard Morningstar Large-Cap ETFvs. Q2 2021SEC
Q2 2021Jul 13, 202146$134.5MInvesco QQQ Trust Series ISPYVanguard Morningstar Large-Cap ETFvs. Q1 2021SEC
Q1 2021May 20, 202146$120.7MInvesco QQQ Trust Series ISPYVanguard Morningstar Large-Cap ETF–SEC