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Livermore
Livermore
ZHEN

Level Wealth Management LLC

SEC CIK
0002036775
Latest filing
Jul 28, 2026

The latest 13F from Level Wealth Management LLC covers Q2 2026 (filed Jul 28, 2026): 70 long positions worth $249.7M. The top 10 holdings make up 80.8% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 27.6%. Livermore has 8 filings on Form 13F from this institution, going back to Q4 2024.

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
6
Est. +$1.88M
Added
23
Est. +$18.1M
Reduced
18
Est. −$1.38M
Sold out
3
Est. −$678.2K

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    27.6%$68.9M
  2. Vanguard Total Bond Market ETF921937835
    16.6%$41.5M
  3. Vanguard Ftse Developed Markets ETF921943858
    11.4%$28.5M
  4. Vanguard Mun BD FDS922907746
    6.2%$15.5M
  5. iShares Tr464287150
    5.3%$13.3M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +$5.83MAdded
  2. Vanguard Total Bond Market ETF921937835
    +$5.57MAdded
  3. Vanguard Mun BD FDS922907746
    +$1.93MAdded
  4. Vanguard Ftse Developed Markets ETF921943858
    +$1.89MAdded
  5. Vanguard Total International Bond ETF92203J407
    +$1.25MAdded

Largest weight increases

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

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +1.98 pp25.6% → 27.6%
  2. COHRCoherent Corp.
    +0.23 pp0.0% → 0.2%History
  3. Vanguard Ftse Developed Markets ETF921943858
    +0.20 pp11.2% → 11.4%
  4. Invesco Exch Traded FD Tr II46138E339
    +0.17 pp0.0% → 0.2%
  5. Vanguard Ftse Emerging Markets ETF922042858
    +0.09 pp3.5% → 3.6%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Instl Index FD922040845
    −$672.6KReduced
  2. Fidelity High Dividend ETF316092840
    −$241.7KSold out
  3. NEENextera Energy Inc
    −$220.1KSold outHistory
  4. PEPPepsiCo Inc
    −$216.3KSold outHistory
  5. Schwab US Dividend Equity ETF808524797
    −$211.7KReduced

Largest weight decreases

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

  1. Vanguard Instl Index FD922040845
    −0.55 pp1.9% → 1.4%
  2. Schwab US Dividend Equity ETF808524797
    −0.13 pp0.4% → 0.3%
  3. Fidelity High Dividend ETF316092840
    −0.11 pp0.1% → 0.0%
  4. NEENextera Energy Inc
    −0.10 pp0.1% → 0.0%History
  5. Dimensional ETF Trust25434V203
    −0.10 pp1.0% → 0.9%

Metrics

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

Portfolio value
$249.7M
+$36.2M (+17.0%) vs. prior quarter
Positions
70
+3 vs. prior quarter
Top 10 concentration
80.8%
Top 10 as share of value
Turnover
0.9%
Q2 2026, one quarter
Average holding period
6.8 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 2024), so positions held before then are understated.

13F filings by quarter

7 quarters, going back to Q4 2024. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $249.7M (Q2 2026)

Q4 2024: $141.5MQ1 2025: $152.8MQ2 2025: $172.0MQ3 2025: $190.0MQ4 2025: $195.5MQ1 2026: $213.5MQ2 2026: $249.7M
Q4 2024Q2 2026
13F filings of Level Wealth Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 202670$249.7MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFvs. Q1 2026SEC
Q1 2026Apr 27, 202667$213.5MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFvs. Q4 2025SEC
Q4 2025Feb 2, 202660$195.5MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFvs. Q3 2025SEC
Q3 2025Oct 23, 202561$190.0MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFvs. Q2 2025SEC
Q2 2025Jul 29, 202561$172.0MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFvs. Q1 2025SEC
Q1 2025Apr 28, 202552$152.8MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETFvs. Q4 2024SEC
Q4 2024Jan 24, 2025Amended53$141.5MVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETFVanguard Ftse Developed Markets ETF–SEC