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Livermore
Livermore
ZHEN

SPWM Advisors LLC

SEC CIK
0002111209
Latest filing
Jul 24, 2026

The latest 13F from SPWM Advisors LLC covers Q2 2026 (filed Jul 24, 2026): 90 long positions worth $108.2M. The top 10 holdings make up 59.7% of the portfolio, and the largest is Invesco Exchange Traded FD T at 14.9%. 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.

Full comparison
New
5
Est. +$1.96M
Added
24
Est. +$3.92M
Reduced
54
Est. −$61.8M
Sold out
8
Est. −$3.00M

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco Exchange Traded FD T46137V738
    14.9%$16.1M
  2. Fidelity Merrimack STR Tr316188309
    10.9%$11.8M
  3. American Centy ETF Tr025072877
    10.2%$11.1M
  4. Dimensional ETF Trust25434V740
    10.1%$11.0M
  5. NVDANVIDIA Corp
    2.7%$2.97MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. Invesco Exchange Traded FD T46137V738
    +$2.25MAdded
  2. SPGIS&P Global Inc.
    +$516.2KNewHistory
  3. AJGArthur J. Gallagher & Co.
    +$513.2KNewHistory
  4. NFLXNetflix Inc
    +$509.1KNewHistory
  5. Fidelity Merrimack STR Tr316188309
    +$434.9KAdded

Largest weight increases

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

  1. Invesco Exchange Traded FD T46137V738
    +3.72 pp11.2% → 14.9%
  2. Fidelity Merrimack STR Tr316188309
    +0.99 pp9.9% → 10.9%
  3. SPGIS&P Global Inc.
    +0.48 pp0.0% → 0.5%History
  4. AJGArthur J. Gallagher & Co.
    +0.47 pp0.0% → 0.5%History
  5. NFLXNetflix Inc
    +0.47 pp0.0% → 0.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BKNGBooking Holdings Inc.
    −$48.8MReducedConverted for a 25-for-1 splitHistory
  2. iShares Russell 1000 Growth ETF464287614
    −$2.56MReducedConverted for a 4-for-1 split
  3. AMATApplied Materials Inc
    −$952.9KReducedHistory
  4. SBUXStarbucks Corp
    −$925.8KSold outHistory
  5. PMPhilip Morris International Inc.
    −$549.4KReducedHistory

Largest weight decreases

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

  1. SBUXStarbucks Corp
    −0.80 pp0.8% → 0.0%History
  2. GOOGLAlphabet Inc.
    −0.54 pp2.3% → 1.7%History
  3. VanEck ETF Trust92189F791
    −0.46 pp0.5% → 0.0%
  4. AMZNAmazon Com Inc
    −0.42 pp3.0% → 2.6%History
  5. MSFTMicrosoft Corp
    −0.40 pp2.8% → 2.5%History

Metrics

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

Portfolio value
$108.2M
−$6.94M (−6.0%) vs. prior quarter
Positions
90
−3 vs. prior quarter
Top 10 concentration
59.7%
Top 10 as share of value
Turnover
5.3%
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 $115.2M (Q1 2026)

Q4 2025: $104.3MQ1 2026: $115.2MQ2 2026: $108.2M
Q4 2025Q2 2026
13F filings of SPWM Advisors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 202690$108.2MInvesco Exchange Traded FD TFidelity Merrimack STR TrAmerican Centy ETF Trvs. Q1 2026SEC
Q1 2026May 14, 202693$115.2MInvesco Exchange Traded FD TFidelity Merrimack STR TrDimensional ETF Trustvs. Q4 2025SEC
Q4 2025Feb 17, 202690$104.3MInvesco Exchange Traded FD TFidelity Merrimack STR TrAmerican Centy ETF Tr–SEC