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Livermore
Livermore
ZHEN

Comerica Securities,inc.

SEC CIK
0000781875
Latest filing
Oct 26, 2023

The latest 13F from Comerica Securities,inc. covers Q3 2023 (filed Oct 26, 2023): 448 long positions worth $1.20B. The top 10 holdings make up 24.1% of the portfolio, and the largest is iShares Core S&P 500 ETF at 5.5%. Livermore has 11 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2023

Share counts compared with Q2 2023: 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
15
Est. +$21.1M
Added
128
Est. +$36.3M
Reduced
291
Est. −$229.3M
Sold out
39
Est. −$18.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    5.5%$65.8M
  2. Vanguard Intermediate-Term Bond ETF921937819
    2.9%$35.3M
  3. iShares Tr464287622
    2.7%$32.8M
  4. iShares Tr46434V613
    2.5%$30.7M
  5. iShares MSCI Eafe ETF464287465
    2.1%$25.4M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr46434V860
    +$9.50MNew
  2. iShares Tr464287432
    +$5.92MNew
  3. Invesco QQQ Trust Series I46090E103
    +$3.98MAdded
  4. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +$3.51MAdded
  5. iShares Tr464288877
    +$3.28MAdded

Largest weight increases

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

  1. iShares Tr46434V860
    +0.79 pp0.0% → 0.8%
  2. Invesco QQQ Trust Series I46090E103
    +0.53 pp1.2% → 1.8%
  3. iShares Tr464287432
    +0.49 pp0.0% → 0.5%
  4. iShares Tr464288877
    +0.37 pp0.5% → 0.9%
  5. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +0.32 pp0.2% → 0.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    −$23.0MReduced
  2. Vanguard Health Care ETF92204A504
    −$8.18MReduced
  3. Vanguard Morningstar Mid-Cap ETF922908629
    −$7.91MReduced
  4. iShares U.S. Treasury Bond ETF46429B267
    −$7.33MReduced
  5. iShares Tr46434V613
    −$6.96MReduced

Largest weight decreases

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

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    −1.39 pp2.6% → 1.3%
  2. Vanguard Health Care ETF92204A504
    −0.55 pp0.9% → 0.3%
  3. Vanguard Morningstar Mid-Cap ETF922908629
    −0.54 pp0.9% → 0.4%
  4. iShares U.S. Treasury Bond ETF46429B267
    −0.48 pp0.9% → 0.4%
  5. iShares MSCI USA Min Vol Factor ETF46429B697
    −0.40 pp1.0% → 0.6%

Metrics

13F metrics for Q3 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.20B
−$238.0M (−16.5%) vs. prior quarter
Positions
448
−24 vs. prior quarter
Top 10 concentration
24.1%
Top 10 as share of value
Turnover
4.3%
Q3 2023, one quarter
Average holding period
10.0 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 (Q1 2021), so positions held before then are understated.

13F filings by quarter

11 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.56B (Q4 2021)

Q1 2021: $1.31BQ2 2021: $1.33BQ3 2021: $1.41BQ4 2021: $1.56BQ1 2022: $1.49BQ2 2022: $1.32BQ3 2022: $1.21BQ4 2022: $1.40BQ1 2023: $1.38BQ2 2023: $1.44BQ3 2023: $1.20B
Q1 2021Q3 2023
13F filings of Comerica Securities,inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2023Oct 26, 2023448$1.20BiShares Core S&P 500 ETFVanguard Intermediate-Term Bond ETFiShares Trvs. Q2 2023SEC
Q2 2023Aug 4, 2023472$1.44BiShares Core S&P 500 ETFiShares TriShares Trvs. Q1 2023SEC
Q1 2023Apr 27, 2023471$1.38BiShares Core S&P 500 ETFVanguard Intermediate-Term Bond ETFiShares Trvs. Q4 2022SEC
Q4 2022Feb 10, 20231,510$1.40BiShares Core S&P 500 ETFVanguard Intermediate-Term Bond ETFiShares Trvs. Q3 2022SEC
Q3 2022Nov 8, 2022427$1.21BiShares Core S&P 500 ETFiShares TrVanguard Intermediate-Term Bond ETFvs. Q2 2022SEC
Q2 2022Jul 19, 2022460$1.32BiShares Core S&P 500 ETFiShares TriShares Trust iShares 0-1 Year Treasury Bond ETFvs. Q1 2022SEC
Q1 2022Apr 28, 2022491$1.49BiShares Core S&P 500 ETFiShares TriShares MSCI Eafe ETFvs. Q4 2021SEC
Q4 2021Feb 10, 2022497$1.56BiShares Core S&P 500 ETFiShares TriShares MSCI Eafe ETFvs. Q3 2021SEC
Q3 2021Nov 10, 2021490$1.41BiShares Core S&P 500 ETFiShares TriShares MSCI Eafe ETFvs. Q2 2021SEC
Q2 2021Aug 11, 2021472$1.33BiShares Core S&P 500 ETFiShares TriShares MSCI Eafe ETFvs. Q1 2021SEC
Q1 2021May 12, 2021503$1.31BiShares Core S&P 500 ETFiShares TriShares Tr–SEC