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Livermore
Livermore
ZHEN

DBK Financial Counsel, LLC

SEC CIK
0001904822
Latest filing
Jul 21, 2026

The latest 13F from DBK Financial Counsel, LLC covers Q2 2026 (filed Jul 21, 2026): 56 long positions worth $119.2M. The top 10 holdings make up 55.8% of the portfolio, and the largest is SPDR Series Trust at 11.0%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 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. +$478.1K
Added
5
Est. +$289.8K
Reduced
39
Est. −$20.4M
Sold out
5
Est. −$6.76M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPDR Series Trust78468R523
    11.0%$13.1M
  2. SPYSPDR S&P 500 ETF Trust
    7.4%$8.83MHistory
  3. Vanguard Ftse Developed Markets ETF921943858
    6.5%$7.70M
  4. Invesco QQQ Trust Series I46090E103
    6.4%$7.60M
  5. Dimensional ETF Trust25434V401
    5.3%$6.36M

Share of portfolio

Top 5 holdings and the other 51 positions, by share of portfolio value

  1. SPDR Series Trust11.0%
  2. SPY7.4%
  3. Vanguard Ftse Developed Markets ETF6.5%
  4. Invesco QQQ Trust Series I6.4%
  5. Dimensional ETF Trust5.3%
  6. Other 51 positions63.4%

Biggest buys

New and added positions, by estimated amount bought

  1. ANETArista Networks, Inc.
    +$271.8KNewHistory
  2. Dimensional ETF Trust25434V799
    +$256.8KAdded
  3. Dimensional ETF Trust25434V732
    +$206.2KNew
  4. American Centy ETF Tr025072885
    +$24.3KAdded
  5. Dimensional ETF Trust25434V773
    +$4.83KAdded

Largest weight increases

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

  1. NVDANVIDIA Corp
    +0.47 pp1.7% → 2.2%History
  2. Dimensional ETF Trust25434V799
    +0.46 pp1.5% → 2.0%
  3. ANETArista Networks, Inc.
    +0.23 pp0.0% → 0.2%History
  4. American Centy ETF Tr025072885
    +0.20 pp0.6% → 0.8%
  5. Dimensional ETF Trust25434V732
    +0.17 pp0.0% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPDR Series Trust78468R523
    −$3.98MReduced
  2. Invesco S&P 500 Quality ETF46137V241
    −$3.36MSold out
  3. Vanguard Morningstar Total Stock Market ETF922908769
    −$2.58MReduced
  4. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −$2.19MSold out
  5. Vanguard Short-Term Bond ETF921937827
    −$1.50MReduced

Largest weight decreases

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

  1. Invesco S&P 500 Quality ETF46137V241
    −2.55 pp2.5% → 0.0%
  2. SPDR Series Trust78468R523
    −1.95 pp13.0% → 11.0%
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −1.66 pp1.7% → 0.0%
  4. Vanguard Morningstar Total Stock Market ETF922908769
    −1.25 pp3.3% → 2.1%
  5. Vanguard Short-Term Bond ETF921937827
    −0.89 pp3.6% → 2.7%

Metrics

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

Portfolio value
$119.2M
−$12.9M (−9.8%) vs. prior quarter
Positions
56
−3 vs. prior quarter
Top 10 concentration
55.8%
Top 10 as share of value
Turnover
0.6%
Q2 2026, one quarter
Average holding period
15.4 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 (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $132.1M (Q1 2026)

Q4 2021: $70.1MQ1 2022: $67.8MQ2 2022: $61.6MQ3 2022: $57.9MQ4 2022: $62.7MQ1 2023: $72.0MQ2 2023: $74.3MQ3 2023: $76.0MQ4 2023: $87.1MQ1 2024: $95.4MQ2 2024: $91.8MQ3 2024: $99.0MQ4 2024: $99.3MQ1 2025: $99.8MQ2 2025: $110.6MQ3 2025: $118.9MQ4 2025: $130.2MQ1 2026: $132.1MQ2 2026: $119.2M
Q4 2021Q2 2026
13F filings of DBK Financial Counsel, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 21, 202656$119.2MSPDR Series TrustSPYVanguard Ftse Developed Markets ETFvs. Q1 2026SEC
Q1 2026Jun 3, 202659$132.1MSPDR Series TrustVanguard Ftse Developed Markets ETFSPYvs. Q4 2025SEC
Q4 2025Jan 26, 202659$130.2MSPDR Series TrustVanguard Ftse Developed Markets ETFSPYvs. Q3 2025SEC
Q3 2025Oct 22, 202559$118.9MSPDR Series TrustVanguard Ftse Developed Markets ETFSPYvs. Q2 2025SEC
Q2 2025Jul 22, 202553$110.6MSPDR Series TrustVanguard Ftse Developed Markets ETFSPYvs. Q1 2025SEC
Q1 2025Apr 10, 202550$99.8MSPDR Series TrustVanguard Ftse Developed Markets ETFSPYvs. Q4 2024SEC
Q4 2024Jan 13, 202551$99.3MState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Ftse Developed Markets ETFSPYvs. Q3 2024SEC
Q3 2024Oct 2, 202448$99.0MState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Ftse Developed Markets ETFSPYvs. Q2 2024SEC
Q2 2024Jul 10, 202449$91.8MState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Ftse Developed Markets ETFSPYvs. Q1 2024SEC
Q1 2024Apr 15, 202449$95.4MState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Ftse Developed Markets ETFSPYvs. Q4 2023SEC
Q4 2023Jan 9, 202445$87.1MState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Ftse Developed Markets ETFSPYvs. Q3 2023SEC
Q3 2023Oct 10, 202343$76.0MState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Ftse Developed Markets ETFVanguard Short-Term Bond ETFvs. Q2 2023SEC
Q2 2023Jul 25, 202342$74.3MVanguard Ftse Developed Markets ETFVanguard Short-Term Bond ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q1 2023SEC
Q1 2023Apr 6, 202341$72.0MVanguard Ftse Developed Markets ETFVanguard Short-Term Bond ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q4 2022SEC
Q4 2022Jan 17, 202340$62.7MVanguard Short-Term Bond ETFVanguard Ftse Developed Markets ETFSPYvs. Q3 2022SEC
Q3 2022Oct 6, 202240$57.9MVanguard Short-Term Bond ETFVanguard Ftse Developed Markets ETFSPYvs. Q2 2022SEC
Q2 2022Jul 11, 202241$61.6MVanguard Short-Term Bond ETFVanguard Ftse Developed Markets ETFSPYvs. Q1 2022SEC
Q1 2022Apr 12, 202234$67.8MVanguard Short-Term Bond ETFVanguard Ftse Developed Markets ETFSPYvs. Q4 2021SEC
Q4 2021Jan 20, 202237$70.1MVanguard Short-Term Bond ETFVanguard Ftse Developed Markets ETFSPY–SEC