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Livermore
Livermore
ZHEN

Summit Financial Group Inc

SEC CIK
0000811808
Latest filing
Apr 5, 2024

The latest 13F from Summit Financial Group Inc covers Q1 2024 (filed Apr 5, 2024): 190 long positions worth $281.3M. The top 10 holdings make up 27.6% of the portfolio, and the largest is Microsoft Corp (MSFT) at 4.2%. Livermore has 14 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q1 2024

Share counts compared with Q4 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
7
Est. +$1.69M
Added
33
Est. +$4.55M
Reduced
79
Est. −$5.41M
Sold out
1
Est. −$257.1K

Top 5 holdings

Share of this quarter's portfolio value

  1. MSFTMicrosoft Corp
    4.2%$11.8MHistory
  2. SPYSPDR S&P 500 ETF Trust
    3.9%$11.0MHistory
  3. Invesco Exchange Traded FD T46137V357
    3.0%$8.51M
  4. LLYEli Lilly & Co
    2.9%$8.20MHistory
  5. iShares Core S&P Small Cap ETF464287804
    2.6%$7.19M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Russell 2000 ETF464287655
    +$609.4KAdded
  2. iShares Core U.S. Aggregate Bond ETF464287226
    +$574.6KAdded
  3. SPYSPDR S&P 500 ETF Trust
    +$451.4KAddedHistory
  4. iShares Inc46434G764
    +$442.4KAdded
  5. State Street Industrial Select Sector SPDR ETF81369Y704
    +$410.0KAdded

Largest weight increases

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

  1. LLYEli Lilly & Co
    +0.57 pp2.3% → 2.9%History
  2. SPYSPDR S&P 500 ETF Trust
    +0.24 pp3.7% → 3.9%History
  3. iShares Russell 2000 ETF464287655
    +0.18 pp1.3% → 1.5%
  4. State Street Industrial Select Sector SPDR ETF81369Y704
    +0.16 pp0.6% → 0.8%
  5. iShares Inc46434G764
    +0.15 pp0.3% → 0.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464287234
    −$551.0KReduced
  2. CSXCSX Corp
    −$500.4KReducedHistory
  3. MSFTMicrosoft Corp
    −$363.1KReducedHistory
  4. iShares U.S. Treasury Bond ETF46429B267
    −$301.5KReduced
  5. iShares MSCI Acwi Ex U.S. ETF464288240
    −$257.1KSold out

Largest weight decreases

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

  1. AAPLApple Inc.
    −0.33 pp1.9% → 1.5%History
  2. iShares Tr464287234
    −0.26 pp1.3% → 1.0%
  3. iShares Core S&P Small Cap ETF464287804
    −0.22 pp2.8% → 2.6%
  4. CSXCSX Corp
    −0.19 pp1.9% → 1.7%History
  5. JNJJohnson & Johnson
    −0.15 pp2.2% → 2.1%History

Metrics

13F metrics for Q1 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$281.3M
+$20.1M (+7.7%) vs. prior quarter
Positions
190
+6 vs. prior quarter
Top 10 concentration
27.6%
Top 10 as share of value
Turnover
2.1%
Q1 2024, one quarter
Average holding period
12.5 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

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

Peak $307.2M (Q4 2021)

Q1 2021: $240.8MQ2 2021: $267.3MQ3 2021: $276.4MQ4 2021: $307.2MQ1 2022: $295.4MQ2 2022: $259.1MQ3 2022: $240.8MQ4 2022: $252.4MQ1 2023: $252.6MQ2 2023: $257.1MQ3 2023: $237.9MQ4 2023: $261.2MQ1 2024: $281.3M
Q1 2021Q1 2024
13F filings of Summit Financial Group Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q1 2024Apr 5, 2024190$281.3MMSFTSPYInvesco Exchange Traded FD Tvs. Q4 2023SEC
Q4 2023Jan 12, 2024184$261.2MMSFTSPYInvesco Exchange Traded FD Tvs. Q3 2023SEC
Q3 2023Oct 17, 2023178$237.9MMSFTSPYInvesco Exchange Traded FD Tvs. Q2 2023SEC
Q2 2023Jul 13, 2023185$257.1MMSFTSPYInvesco Exchange Traded FD Tvs. Q1 2023SEC
Q1 2023Apr 11, 2023190$252.6MMSFTSPYInvesco Exchange Traded FD Tvs. Q4 2022SEC
Q4 2022Jan 9, 2023193$252.4MMSFTSPYInvesco Exchange Traded FD Tvs. Q3 2022SEC
Q3 2022Nov 16, 2022Amended190$240.8MMSFTSPYSMMFvs. Q2 2022SEC
Q2 2022Jul 7, 2022195$259.1MMSFTSMMFiShares Core U.S. Aggregate Bond ETFvs. Q1 2022SEC
Q1 2022Apr 8, 2022210$295.4MMSFTSPYiShares Core U.S. Aggregate Bond ETFvs. Q4 2021SEC
Q4 2021Jan 10, 2022211$307.2MMSFTiShares Core S&P Small Cap ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2021SEC
Q3 2021Oct 8, 2021204$276.4MMSFTiShares Core U.S. Aggregate Bond ETFiShares Core S&P Small Cap ETFvs. Q2 2021SEC
Q2 2021Jul 6, 2021196$267.3MMSFTiShares Core U.S. Aggregate Bond ETFiShares Core S&P Small Cap ETFvs. Q1 2021SEC
Q1 2021Apr 7, 2021182$240.8MiShares Core U.S. Aggregate Bond ETFiShares Core S&P Small Cap ETFMSFT–SEC