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Livermore
Livermore
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Mark Stevens

SEC CIK
0000933482
Latest filing
Oct 27, 2023

The latest 13F from Mark Stevens covers Q3 2023 (filed Oct 27, 2023): 245 long positions worth $748.4M. The top 10 holdings make up 42.3% of the portfolio, and the largest is Vanguard Morningstar Value ETF at 6.7%. 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
19
Est. +$6.99M
Added
87
Est. +$24.0M
Reduced
78
Est. −$33.3M
Sold out
10
Est. −$2.66M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Value ETF922908744
    6.7%$49.9M
  2. Heartland Finl USA Inc42234Q102
    6.4%$47.7M
  3. Vanguard Morningstar Growth ETF922908736
    6.3%$47.3M
  4. VanEck ETF Trust92189H201
    4.9%$37.0M
  5. iShares Tr464288877
    4.1%$31.0M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Total Bond Market ETF921937835
    +$3.20MAdded
  2. Vanguard Real Estate ETF922908553
    +$2.80MAdded
  3. VanEck ETF Trust92189H201
    +$2.43MAdded
  4. PLDPrologis, Inc.
    +$2.22MAddedHistory
  5. iShares Tr464288877
    +$1.56MAdded

Largest weight increases

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

  1. Vanguard Total Bond Market ETF921937835
    +0.43 pp0.9% → 1.3%
  2. Vanguard Real Estate ETF922908553
    +0.37 pp<0.1% → 0.4%
  3. iShares Tr464288877
    +0.35 pp3.8% → 4.1%
  4. PLDPrologis, Inc.
    +0.30 pp<0.1% → 0.3%History
  5. VanEck ETF Trust92189H201
    +0.29 pp4.6% → 4.9%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. WMTWalmart Inc.
    −$4.01MReducedHistory
  2. Vanguard Scottsdale FDS92206C409
    −$3.97MReduced
  3. BRK.BBerkshire Hathaway Inc
    −$3.35MReducedHistory
  4. Heartland Finl USA Inc42234Q102
    −$2.16MReduced
  5. COSTCostco Wholesale Corp
    −$1.66MReducedHistory

Largest weight decreases

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

  1. Vanguard Scottsdale FDS92206C409
    −0.48 pp1.6% → 1.1%
  2. WMTWalmart Inc.
    −0.46 pp1.3% → 0.9%History
  3. AAPLApple Inc.
    −0.42 pp3.2% → 2.8%History
  4. BRK.BBerkshire Hathaway Inc
    −0.39 pp0.9% → 0.5%History
  5. RTXRTX Corp
    −0.29 pp1.2% → 0.9%History

Metrics

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

Portfolio value
$748.4M
−$28.3M (−3.6%) vs. prior quarter
Positions
245
+9 vs. prior quarter
Top 10 concentration
42.3%
Top 10 as share of value
Turnover
4.1%
Q3 2023, one quarter
Average holding period
10.4 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

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

Peak $952.4M (Q4 2021)

Q1 2021: $878.4MQ2 2021: $900.1MQ3 2021: $893.8MQ4 2021: $952.4MQ1 2022: $895.4MQ2 2022: $774.3MQ3 2022: $714.9MQ4 2022: $764.3MQ1 2023: $779.6MQ2 2023: $776.8MQ3 2023: $748.4M
Q1 2021Q3 2023
13F filings of Mark Stevens by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2023Oct 27, 2023245$748.4MVanguard Morningstar Value ETFHeartland Finl USA IncVanguard Morningstar Growth ETFvs. Q2 2023SEC
Q2 2023Jul 17, 2023236$776.8MVanguard Morningstar Value ETFVanguard Morningstar Growth ETFHeartland Finl USA Incvs. Q1 2023SEC
Q1 2023Apr 13, 2023224$779.6MHeartland Finl USA IncVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q4 2022SEC
Q4 2022Feb 3, 2023221$764.3MHeartland Finl USA IncVanguard Morningstar Value ETFVanEck ETF Trustvs. Q3 2022SEC
Q3 2022Nov 2, 2022218$714.9MHeartland Finl USA IncVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q2 2022SEC
Q2 2022Jul 13, 2022225$774.3MHeartland Finl USA IncVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q1 2022SEC
Q1 2022May 3, 2022247$895.4MHeartland Finl USA IncVanguard Morningstar Value ETFVanguard Morningstar Growth ETFvs. Q4 2021SEC
Q4 2021Jan 28, 2022262$952.4MHeartland Finl USA IncVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q3 2021SEC
Q3 2021Nov 9, 2021272$893.8MHeartland Finl USA IncVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q2 2021SEC
Q2 2021Jul 9, 2021275$900.1MHeartland Finl USA IncVanguard Morningstar Growth ETFVanguard Morningstar Value ETFvs. Q1 2021SEC
Q1 2021May 14, 2021270$878.4MHeartland Finl USA IncVanguard Morningstar Value ETFVanguard Morningstar Growth ETF–SEC