Financial Management Concepts Corp
- SEC CIK
- 0000883933
- Latest filing
- Feb 14, 2022
The latest 13F from Financial Management Concepts Corp covers Q4 2021 (filed Feb 14, 2022): 29 long positions worth $137.2M. The top 10 holdings make up 76.7% of the portfolio, and the largest is Vanguard Consumer Discretionary ETF at 13.4%. Livermore has 4 filings on Form 13F from this institution, going back to Q1 2021.
What changed in Q4 2021
Share counts compared with Q3 2021: 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
- 5
- Est. +$22.2M
- Added
- 9
- Est. +$13.1M
- Reduced
- 10
- Est. −$12.3M
- Sold out
- 3
- Est. −$13.7M
Top 5 holdings
Share of this quarter's portfolio value
- Vanguard Consumer Discretionary ETF92204A10813.4%$18.4M
- Vanguard Information Technology ETF92204A70212.0%$16.4M
- Schwab US Tips ETF80852487010.6%$14.5M
- Vanguard S&P 500 ETF9229083637.5%$10.4M
- Invesco Exchange Traded FD T46137V3246.9%$9.44M
Share of portfolio
Top 5 holdings and the other 24 positions, by share of portfolio value
- Vanguard Consumer Discretionary ETF13.4%
- Vanguard Information Technology ETF12.0%
- Schwab US Tips ETF10.6%
- Vanguard S&P 500 ETF7.5%
- Invesco Exchange Traded FD T6.9%
- Other 24 positions49.6%
Biggest buys
New and added positions, by estimated amount bought
- Schwab US Tips ETF808524870+$14.5MNew
- Vanguard S&P 500 ETF922908363+$8.01MAdded
- Invesco Exchange Traded FD T46137V340+$6.18MNew
- Schwab U.S. Broad Market ETF808524102+$1.50MAdded
- SPDR Series Trust78468R861+$815.2KAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Schwab US Tips ETF808524870+10.58 pp0.0% → 10.6%
- Vanguard S&P 500 ETF922908363+5.86 pp1.7% → 7.5%
- Invesco Exchange Traded FD T46137V340+4.50 pp0.0% → 4.5%
- Schwab U.S. Broad Market ETF808524102+1.09 pp0.2% → 1.3%
- iShares Tr464287515+0.57 pp0.0% → 0.6%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- iShares Core U.S. Aggregate Bond ETF464287226−$12.9MSold out
- Invesco Exchange Traded FD T46137V332−$6.75MReduced
- Vanguard Communication Services ETF92204A884−$1.96MReduced
- Invesco Exchange Traded FD T46137V316−$1.28MReduced
- Invesco Actvely MNGD Etc FD46090F100−$632.0KReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- iShares Core U.S. Aggregate Bond ETF464287226−10.30 pp10.3% → 0.0%
- Invesco Exchange Traded FD T46137V332−5.04 pp7.3% → 2.3%
- Invesco Actvely MNGD Etc FD46090F100−4.91 pp11.4% → 6.5%
- Vanguard Communication Services ETF92204A884−2.31 pp7.3% → 5.0%
- Invesco Exchange Traded FD T46137V316−0.71 pp7.2% → 6.5%
Metrics
13F metrics for Q4 2021, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $137.2M
- +$11.8M (+9.4%) vs. prior quarter
- Positions
- 29
- +2 vs. prior quarter
- Top 10 concentration
- 76.7%
- Top 10 as share of value
- Turnover
- 19.8%
- Q4 2021, one quarter
- Average holding period
- 3.4 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
4 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $137.2M (Q4 2021)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q4 2021 | Feb 14, 2022 | 29 | $137.2M | Vanguard Consumer Discretionary ETFVanguard Information Technology ETFSchwab US Tips ETF | vs. Q3 2021 | SEC |
| Q3 2021 | Nov 12, 2021 | 27 | $125.4M | Vanguard Consumer Discretionary ETFVanguard Information Technology ETFInvesco Actvely MNGD Etc FD | vs. Q2 2021 | SEC |
| Q2 2021 | Aug 6, 2021 | 28 | $123.1M | Vanguard Consumer Discretionary ETFVanguard Information Technology ETFInvesco Actvely MNGD Etc FD | vs. Q1 2021 | SEC |
| Q1 2021 | Jun 1, 2021 | 26 | $111.1M | Vanguard Consumer Discretionary ETFVanguard Information Technology ETFiShares Tr | – | SEC |