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Livermore
Livermore
ZHEN

Parsec Financial Management, Inc.

SEC CIK
0001349138
Latest filing
Apr 6, 2023

The latest 13F from Parsec Financial Management, Inc. covers Q1 2023 (filed Apr 6, 2023): 295 long positions worth $2.37B. The top 10 holdings make up 37.5% of the portfolio, and the largest is Vanguard Ftse Developed Markets ETF at 9.1%. Livermore has 9 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q1 2023

Share counts compared with Q4 2022: 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
13
Est. +$4.35M
Added
88
Est. +$68.3M
Reduced
141
Est. −$51.1M
Sold out
3
Est. −$2.85M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Ftse Developed Markets ETF921943858
    9.1%$216.2M
  2. Dimensional ETF Trust25434V104
    5.0%$119.4M
  3. AAPLApple Inc.
    5.0%$118.7MHistory
  4. MSFTMicrosoft Corp
    4.2%$98.9MHistory
  5. iShares Core S&P 500 ETF464287200
    3.4%$79.9M

Share of portfolio

Top 5 holdings and the other 290 positions, by share of portfolio value

  1. Vanguard Ftse Developed Markets ETF9.1%
  2. Dimensional ETF Trust5.0%
  3. AAPL5.0%
  4. MSFT4.2%
  5. iShares Core S&P 500 ETF3.4%
  6. Other 290 positions73.3%

Biggest buys

New and added positions, by estimated amount bought

  1. Dimensional ETF Trust25434V104
    +$13.1MAdded
  2. iShares Tr46429B655
    +$3.89MAdded
  3. iShares S&P Small-Cap 600 Value ETF464287879
    +$3.52MAdded
  4. iShares Tr464288588
    +$3.51MAdded
  5. Vanguard Ftse Developed Markets ETF921943858
    +$3.00MAdded

Largest weight increases

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

  1. Dimensional ETF Trust25434V104
    +0.59 pp4.4% → 5.0%
  2. Vanguard Ftse Developed Markets ETF921943858
    +0.29 pp8.8% → 9.1%
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +0.22 pp0.8% → 1.1%History
  4. GOOGAlphabet Inc.
    +0.16 pp1.3% → 1.4%History
  5. iShares Core S&P 500 ETF464287200
    +0.15 pp3.2% → 3.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CVSCVS Health Corp
    −$4.92MReducedHistory
  2. AAPLApple Inc.
    −$2.91MReducedHistory
  3. BLKBlackRock, Inc.
    −$2.20MReducedHistory
  4. TTETotalEnergies SE
    −$2.13MReducedHistory
  5. CCitigroup Inc
    −$1.96MSold outHistory

Largest weight decreases

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

  1. CVSCVS Health Corp
    −0.35 pp0.6% → 0.2%History
  2. BLKBlackRock, Inc.
    −0.33 pp2.2% → 1.9%History
  3. JNJJohnson & Johnson
    −0.26 pp1.5% → 1.2%History
  4. EMREmerson Electric Co
    −0.25 pp1.3% → 1.1%History
  5. AMGNAmgen Inc
    −0.23 pp1.7% → 1.4%History

Metrics

13F metrics for Q1 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.37B
+$127.2M (+5.7%) vs. prior quarter
Positions
295
+10 vs. prior quarter
Top 10 concentration
37.5%
Top 10 as share of value
Turnover
2.3%
Q1 2023, one quarter
Average holding period
8.7 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

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

Peak $2.41B (Q4 2021)

Q1 2021: $1.95BQ2 2021: $2.12BQ3 2021: $2.35BQ4 2021: $2.41BQ1 2022: $2.35BQ2 2022: $2.06BQ3 2022: $2.00BQ4 2022: $2.25BQ1 2023: $2.37B
Q1 2021Q1 2023
13F filings of Parsec Financial Management, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q1 2023Apr 6, 2023295$2.37BVanguard Ftse Developed Markets ETFDimensional ETF TrustAAPLvs. Q4 2022SEC
Q4 2022Feb 6, 2023285$2.25BVanguard Ftse Developed Markets ETFDimensional ETF TrustAAPLvs. Q3 2022SEC
Q3 2022Nov 7, 2022271$2.00BVanguard Ftse Developed Markets ETFAAPLDimensional ETF Trustvs. Q2 2022SEC
Q2 2022Jul 6, 2022286$2.06BVanguard Ftse Developed Markets ETFAAPLMSFTvs. Q1 2022SEC
Q1 2022May 9, 2022300$2.35BVanguard Ftse Developed Markets ETFAAPLMSFTvs. Q4 2021SEC
Q4 2021Feb 8, 2022290$2.41BVanguard Ftse Developed Markets ETFAAPLMSFTvs. Q3 2021SEC
Q3 2021Nov 10, 2021281$2.35BVanguard Ftse Developed Markets ETFAAPLMSFTvs. Q2 2021SEC
Q2 2021Jul 26, 2021271$2.12BVanguard Ftse Developed Markets ETFAAPLMSFTvs. Q1 2021SEC
Q1 2021Apr 23, 2021260$1.95BVanguard Ftse Developed Markets ETFAAPLMSFT–SEC