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Livermore
Livermore
ZHEN

Kathleen S. Wright Associates Inc.

SEC CIK
0001908433
Latest filing
Oct 10, 2025

The latest 13F from Kathleen S. Wright Associates Inc. covers Q3 2025 (filed Oct 10, 2025): 236 long positions worth $269.7M. The top 10 holdings make up 49.3% of the portfolio, and the largest is Vanguard S&P 500 ETF at 10.7%. Livermore has 16 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q3 2025

Share counts compared with Q2 2025: 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
4
Est. +$73.1K
Added
50
Est. +$5.20M
Reduced
37
Est. −$3.40M
Sold out
13
Est. −$1.14M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    10.7%$29.0M
  2. BRK.BBerkshire Hathaway Inc
    9.1%$24.6MHistory
  3. VanEck Morningstar Wide Moat ETF92189F643
    6.2%$16.7M
  4. iShares Tr46436E718
    5.0%$13.5M
  5. Vanguard Morningstar Growth ETF922908736
    4.2%$11.3M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard S&P 500 ETF922908363
    +$1.23MAdded
  2. Dimensional U.S. Core Equity 2 ETF25434V708
    +$479.8KAdded
  3. VanEck Morningstar Wide Moat ETF92189F643
    +$458.5KAdded
  4. Vanguard Morningstar Mid-Cap ETF922908629
    +$293.4KAdded
  5. Schwab Intermediate-Term US Treasury ETF808524854
    +$275.6KAdded

Largest weight increases

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

  1. Vanguard S&P 500 ETF922908363
    +0.70 pp10.0% → 10.7%
  2. GOOGLAlphabet Inc.
    +0.24 pp0.7% → 1.0%History
  3. Vanguard Morningstar Growth ETF922908736
    +0.21 pp4.0% → 4.2%
  4. VanEck Morningstar Wide Moat ETF92189F643
    +0.19 pp6.0% → 6.2%
  5. Dimensional U.S. Core Equity 2 ETF25434V708
    +0.18 pp0.1% → 0.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr46436E718
    −$1.41MReduced
  2. ANSSAnsys Inc
    −$772.7KSold outHistory
  3. BRK.BBerkshire Hathaway Inc
    −$649.7KReducedHistory
  4. MKLMarkel Group Inc.
    −$165.4KReducedHistory
  5. PNCPNC Financial Services Group, Inc.
    −$151.1KReducedHistory

Largest weight decreases

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

  1. iShares Tr46436E718
    −0.81 pp5.8% → 5.0%
  2. BRK.BBerkshire Hathaway Inc
    −0.39 pp9.5% → 9.1%History
  3. ANSSAnsys Inc
    −0.30 pp0.3% → 0.0%History
  4. MKLMarkel Group Inc.
    −0.16 pp1.1% → 1.0%History
  5. PNCPNC Financial Services Group, Inc.
    −0.08 pp0.3% → 0.2%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$269.7M
+$13.4M (+5.2%) vs. prior quarter
Positions
236
−9 vs. prior quarter
Top 10 concentration
49.3%
Top 10 as share of value
Turnover
1.7%
Q3 2025, one quarter
Average holding period
15.0 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

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

Peak $269.7M (Q3 2025)

Q4 2021: $135.9MQ1 2022: $137.1MQ2 2022: $118.8MQ3 2022: $123.3MQ4 2022: $147.6MQ1 2023: $152.3MQ2 2023: $156.9MQ3 2023: $178.7MQ4 2023: $196.6MQ1 2024: $212.2MQ2 2024: $217.7MQ3 2024: $242.3MQ4 2024: $240.0MQ1 2025: $241.9MQ2 2025: $256.2MQ3 2025: $269.7M
Q4 2021Q3 2025
13F filings of Kathleen S. Wright Associates Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Oct 10, 2025236$269.7MVanguard S&P 500 ETFBRK.BVanEck Morningstar Wide Moat ETFvs. Q2 2025SEC
Q2 2025Jul 31, 2025245$256.2MVanguard S&P 500 ETFBRK.BVanEck Morningstar Wide Moat ETFvs. Q1 2025SEC
Q1 2025May 6, 2025252$241.9MBRK.BVanguard S&P 500 ETFiShares Trvs. Q4 2024SEC
Q4 2024Jan 27, 2025263$240.0MBRK.BVanguard S&P 500 ETFVanEck Morningstar Wide Moat ETFvs. Q3 2024SEC
Q3 2024Oct 11, 2024295$242.3MBRK.BVanguard S&P 500 ETFVanEck Morningstar Wide Moat ETFvs. Q2 2024SEC
Q2 2024Jul 18, 2024224$217.7MBRK.BVanguard S&P 500 ETFiShares Trvs. Q1 2024SEC
Q1 2024Apr 17, 2024234$212.2MBRK.BVanguard S&P 500 ETFiShares Trvs. Q4 2023SEC
Q4 2023Feb 1, 2024197$196.6MBRK.BiShares TrVanguard S&P 500 ETFvs. Q3 2023SEC
Q3 2023Oct 23, 2023194$178.7MBRK.BiShares TrVanguard S&P 500 ETFvs. Q2 2023SEC
Q2 2023Jul 20, 2023167$156.9MBRK.BVanguard S&P 500 ETFiShares Trvs. Q1 2023SEC
Q1 2023Apr 21, 2023163$152.3MBRK.BWisdomTree TrVanguard S&P 500 ETFvs. Q4 2022SEC
Q4 2022Feb 2, 2023206$147.6MBRK.BWisdomTree TrVanguard S&P 500 ETFvs. Q3 2022SEC
Q3 2022Oct 19, 2022188$123.3MBRK.BWisdomTree TrVanEck Morningstar Wide Moat ETFvs. Q2 2022SEC
Q2 2022Jul 15, 2022157$118.8MBRK.BWisdomTree TrSchwab International Small-Cap Equity ETFvs. Q1 2022SEC
Q1 2022Apr 29, 2022150$137.1MBRK.BWisdomTree TrSchwab International Small-Cap Equity ETFvs. Q4 2021SEC
Q4 2021Feb 2, 2022149$135.9MBRK.BWisdomTree TrSchwab International Small-Cap Equity ETF–SEC