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Livermore
Livermore
ZHEN

Toscafund Asset Management LLP

SEC CIK
0001439289
Latest filing
Nov 13, 2023

The latest 13F from Toscafund Asset Management LLP covers Q3 2023 (filed Nov 13, 2023): 3 long positions worth $15.6M. The top 10 holdings make up 100.0% of the portfolio, and the largest is Baldwin Insurance Group, Inc. (BWIN) at 55.9%. 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
1
Est. +$128.8K
Added
0
Reduced
2
Est. −$11.8M
Sold out
1
Est. −$1.06M

Top 5 holdings

Share of this quarter's portfolio value

  1. BWINBaldwin Insurance Group, Inc.
    55.9%$8.70MHistory
  2. JXNJackson Financial Inc.
    43.3%$6.73MHistory
  3. SPWRSunPower Inc.
    0.8%$128.8KHistory

Share of portfolio

Each position's share of portfolio value

  1. BWIN55.9%
  2. JXN43.3%
  3. SPWR0.8%

Biggest buys

New and added positions, by estimated amount bought

  1. SPWRSunPower Inc.
    +$128.8KNewHistory

Largest weight increases

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

  1. SPWRSunPower Inc.
    +0.83 pp0.0% → 0.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. JXNJackson Financial Inc.
    −$10.7MReducedHistory
  2. BWINBaldwin Insurance Group, Inc.
    −$1.11MReducedHistory
  3. CRBGCorebridge Financial, Inc.
    −$1.06MSold outHistory

Largest weight decreases

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

  1. JXNJackson Financial Inc.
    −11.48 pp54.7% → 43.3%History
  2. CRBGCorebridge Financial, Inc.
    −4.16 pp4.2% → 0.0%History

Metrics

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

Portfolio value
$15.6M
−$9.90M (−38.9%) vs. prior quarter
Positions
3
0 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
0.6%
Q3 2023, one quarter
Average holding period
10.1 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 $146.8M (Q1 2022)

Q1 2021: $96.1MQ2 2021: $86.4MQ3 2021: $94.0MQ4 2021: $115.7MQ1 2022: $146.8MQ2 2022: $69.7MQ3 2022: $48.7MQ4 2022: $25.1MQ1 2023: $26.2MQ2 2023: $25.5MQ3 2023: $15.6M
Q1 2021Q3 2023
13F filings of Toscafund Asset Management LLP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2023Nov 13, 20233$15.6MBWINJXNSPWRvs. Q2 2023SEC
Q2 2023Aug 14, 20233$25.5MJXNBWINCRBGvs. Q1 2023SEC
Q1 2023May 15, 20233$26.2MJXNBWINSKWDvs. Q4 2022SEC
Q4 2022Feb 14, 20234$25.1MJXNBWINCRBGvs. Q3 2022SEC
Q3 2022Nov 14, 20228$48.7MJXNCRBGBWINvs. Q2 2022SEC
Q2 2022Aug 12, 20229$69.7MJXNBWINMTBvs. Q1 2022SEC
Q1 2022May 13, 202212$146.8MSignature BK New York N YLPLAJXNvs. Q4 2021SEC
Q4 2021Feb 14, 202211$115.7MSignature BK New York N YJXNAIRCvs. Q3 2021SEC
Q3 2021Nov 15, 20219$94.0MSCUSignature BK New York N YJXNvs. Q2 2021SEC
Q2 2021Aug 16, 202113$86.4MSCUAIRCCZRvs. Q1 2021SEC
Q1 2021May 14, 202115$96.1MSCUFCNCACZR–SEC

13D and 13G filings

Companies where Toscafund Asset Management LLP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Toscafund Asset Management LLP does not currently report owning 5% or more of any company.

Latest filings

9 filings on file made by Toscafund Asset Management LLP or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Toscafund Asset Management LLP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
NEXNNexxen International Ltd.Aug 14, 202610:00 AM ET13G/A4.30%2.40M shares−1.20 ppfrom 5.50%Below 5%Jun 30, 2025SEC
NEXNNexxen International Ltd.Nov 12, 202511:19 AM ET13G/A5.50%3.19M shares−1.80 ppfrom 7.30%Sep 30, 2025SEC
NEXNNexxen International Ltd.Aug 14, 20259:03 PM ET13G/A7.30%4.29M shares−1.30 ppfrom 8.60%Jun 30, 2025SEC
NEXNNexxen International Ltd.Feb 14, 202510:17 AM ET13G/A8.60%11.2M shares–Dec 31, 2024SEC
NEXNNexxen International Ltd.Nov 14, 202413G/AOld format–––SEC
NEXNNexxen International Ltd.Feb 13, 202413GOld format–––SEC
NEXNNexxen International Ltd.Feb 14, 202313G/AOld format–––SEC
NEXNNexxen International Ltd.Mar 1, 202213GOld format–––SEC
NEXNNexxen International Ltd.Jul 1, 202113GOld format–New–SEC