Winter & Associates, Inc.
- SEC CIK
- 0002109063
- Latest filing
- Jul 9, 2026
The latest 13F from Winter & Associates, Inc. covers Q2 2026 (filed Jul 9, 2026): 85 long positions worth $133.1M. The top 10 holdings make up 56.3% of the portfolio, and the largest is Victory Portfolios II at 13.5%. Livermore has 3 filings on Form 13F from this institution, going back to Q4 2025.
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.
- New
- 15
- Est. +$4.29M
- Added
- 26
- Est. +$31.0M
- Reduced
- 29
- Est. −$20.2M
- Sold out
- 14
- Est. −$6.32M
Top 5 holdings
Share of this quarter's portfolio value
- Victory Portfolios II92647N53513.5%$18.0M
- Pacer US Cash Cows 100 ETF69374H8816.1%$8.14M
- Dimensional ETF Trust25434V8075.8%$7.74M
- Invesco Exch Traded FD Tr II46138E3705.8%$7.67M
- Vanguard Morningstar Small-Cap ETF9229087514.9%$6.53M
Biggest buys
New and added positions, by estimated amount bought
- Victory Portfolios II92647N535+$7.96MAdded
- Invesco Exch Traded FD Tr II46138E370+$3.18MAdded
- Dimensional ETF Trust25434V807+$3.04MAdded
- Vanguard Morningstar Small-Cap ETF922908751+$2.70MAdded
- iShares Tr464289446+$2.67MAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Victory Portfolios II92647N535+4.73 pp8.8% → 13.5%
- Invesco Exch Traded FD Tr II46138E370+2.79 pp3.0% → 5.8%
- Vanguard Morningstar Small-Cap ETF922908751+1.97 pp2.9% → 4.9%
- iShares Tr464289446+1.94 pp2.9% → 4.8%
- Dimensional ETF Trust25434V807+1.74 pp4.1% → 5.8%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- Schwab Fundamental U.S. Small Company ETF808524763−$3.04MReduced
- MDYSPDR S&P Midcap 400 ETF Trust
- Vanguard Star FDS921909768−$2.65MReduced
- Vanguard Total Bond Market ETF921937835−$2.57MReduced
- WisdomTree Tr97717X669−$2.09MReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- Schwab Fundamental U.S. Small Company ETF808524763−2.32 pp4.7% → 2.3%
- Vanguard Star FDS921909768−2.32 pp5.4% → 3.1%
- Vanguard Total Bond Market ETF921937835−2.29 pp2.5% → 0.2%
- MDYSPDR S&P Midcap 400 ETF Trust
- WisdomTree Tr97717X669−1.83 pp3.5% → 1.7%
Metrics
13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $133.1M
- +$18.9M (+16.5%) vs. prior quarter
- Positions
- 85
- +1 vs. prior quarter
- Top 10 concentration
- 56.3%
- Top 10 as share of value
- Turnover
- 21.4%
- Q2 2026, one quarter
- Average holding period
- 2.9 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 2025), so positions held before then are understated.
13F filings by quarter
3 quarters, going back to Q4 2025. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $133.1M (Q2 2026)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | Jul 9, 2026 | 85 | $133.1M | Victory Portfolios IIPacer US Cash Cows 100 ETFDimensional ETF Trust | vs. Q1 2026 | SEC |
| Q1 2026 | Apr 8, 2026 | 84 | $114.2M | Victory Portfolios IIPacer US Cash Cows 100 ETFVanguard Star FDS | vs. Q4 2025 | SEC |
| Q4 2025 | Feb 13, 2026 | 82 | $108.2M | Victory Portfolios IIVanguard Star FDSMDY | – | SEC |