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Livermore
Livermore
ZHEN

KPP Advisory Services LLC

SEC CIK
0001989349
Latest filing
Jul 24, 2026

The latest 13F from KPP Advisory Services LLC covers Q2 2026 (filed Jul 24, 2026): 361 long positions worth $789.1M. The top 10 holdings make up 27.3% of the portfolio, and the largest is Invesco Nasdaq 100 ETF at 5.8%. Livermore has 13 filings on Form 13F from this institution, going back to Q3 2023.

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
31
Est. +$18.0M
Added
124
Est. +$35.0M
Reduced
157
Est. −$40.8M
Sold out
19
Est. −$9.23M

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco Nasdaq 100 ETF46138G649
    5.8%$45.5M
  2. Invesco QQQ Trust Series I46090E103
    3.1%$24.7M
  3. Vanguard S&P 500 ETF922908363
    2.9%$22.6M
  4. Invesco Exchange Traded FD T46137V472
    2.6%$20.8M
  5. John Hancock Exchange Traded47804J206
    2.6%$20.2M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard S&P 500 ETF922908363
    +$6.79MAdded
  2. SPCXSpace Exploration Technologies Corp
    +$5.44MNewHistory
  3. Franklin Templeton ETF Tr35473P884
    +$3.27MAdded
  4. WisdomTree Tr97717Y477
    +$2.72MAdded
  5. Vanguard Malvern FDS922020748
    +$2.32MNew

Largest weight increases

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

  1. Vanguard S&P 500 ETF922908363
    +0.87 pp2.0% → 2.9%
  2. Invesco Nasdaq 100 ETF46138G649
    +0.84 pp4.9% → 5.8%
  3. SPCXSpace Exploration Technologies Corp
    +0.69 pp0.0% → 0.7%History
  4. AB Active ETFs Inc00039J509
    +0.38 pp1.2% → 1.5%
  5. WisdomTree Tr97717Y477
    +0.37 pp0.3% → 0.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. TSLATesla, Inc.
    −$7.08MReducedHistory
  2. Invesco Exchange Traded FD T46137V449
    −$6.16MReduced
  3. iShares Tips Bond ETF464287176
    −$3.30MReduced
  4. Alps ETF Tr00162Q676
    −$2.42MSold out
  5. American Centy ETF Tr025072307
    −$1.84MReduced

Largest weight decreases

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

  1. TSLATesla, Inc.
    −0.92 pp1.7% → 0.7%History
  2. Invesco Exchange Traded FD T46137V449
    −0.82 pp1.7% → 0.9%
  3. iShares Tips Bond ETF464287176
    −0.49 pp0.5% → <0.1%
  4. Alps ETF Tr00162Q676
    −0.35 pp0.4% → 0.0%
  5. MSFTMicrosoft Corp
    −0.25 pp1.8% → 1.6%History

Metrics

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

Portfolio value
$789.1M
+$100.5M (+14.6%) vs. prior quarter
Positions
361
+12 vs. prior quarter
Top 10 concentration
27.3%
Top 10 as share of value
Turnover
6.8%
Q2 2026, one quarter
Average holding period
9.0 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 (Q3 2023), so positions held before then are understated.

13F filings by quarter

12 quarters, going back to Q3 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $789.1M (Q2 2026)

Q3 2023: $302.8MQ4 2023: $113.8MQ1 2024: $364.3MQ2 2024: $376.2MQ3 2024: $416.7MQ4 2024: $424.1MQ1 2025: $526.3MQ2 2025: $606.2MQ3 2025: $673.6MQ4 2025: $688.6MQ1 2026: $688.6MQ2 2026: $789.1M
Q3 2023Q2 2026
13F filings of KPP Advisory Services LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 2026361$789.1MInvesco Nasdaq 100 ETFInvesco QQQ Trust Series IVanguard S&P 500 ETFvs. Q1 2026SEC
Q1 2026Apr 24, 2026349$688.6MInvesco Nasdaq 100 ETFInvesco QQQ Trust Series IInvesco Exchange Traded FD Tvs. Q4 2025SEC
Q4 2025Feb 2, 2026328$688.6MInvesco Nasdaq 100 ETFInvesco QQQ Trust Series IiShares Core S&P 500 ETFvs. Q3 2025SEC
Q3 2025Nov 3, 2025328$673.6MInvesco Nasdaq 100 ETFInvesco QQQ Trust Series IiShares Core S&P 500 ETFvs. Q2 2025SEC
Q2 2025Jul 30, 2025Amended308$606.2MInvesco Nasdaq 100 ETFInvesco QQQ Trust Series IiShares Core S&P 500 ETFvs. Q1 2025SEC
Q1 2025Apr 23, 2025291$526.3MInvesco QQQ Trust Series IiShares Core S&P 500 ETFInvesco Exchange Traded FD Tvs. Q4 2024SEC
Q4 2024Jan 24, 2025258$424.1MInvesco QQQ Trust Series IInvesco Exchange Traded FD TInvesco Nasdaq 100 ETFvs. Q3 2024SEC
Q3 2024Nov 6, 2024260$416.7MInvesco QQQ Trust Series IInvesco Exchange Traded FD TInvesco Nasdaq 100 ETFvs. Q2 2024SEC
Q2 2024Aug 27, 2024238$376.2MInvesco QQQ Trust Series IJohn Hancock Exchange TradedAAPLvs. Q1 2024SEC
Q1 2024May 14, 2024241$364.3MInvesco QQQ Trust Series IJohn Hancock Exchange TradedPacer US Small Cap Cash Cows ETFvs. Q4 2023SEC
Q4 2023Feb 14, 2024126$113.8MAAPLMSFTTSLAvs. Q3 2023SEC
Q3 2023Nov 14, 2023216$302.8MInvesco QQQ Trust Series IFirst Tr Exchange-Traded FDJohn Hancock Exchange Traded–SEC