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Livermore
Livermore
ZHEN

River & Mercantile Asset Management LLP

SEC CIK
0001486180
Latest filing
Feb 7, 2025

The latest 13F from River & Mercantile Asset Management LLP covers Q4 2024 (filed Feb 7, 2025): 138 long positions worth $515.0M. The top 10 holdings make up 46.6% of the portfolio, and the largest is Microsoft Corp (MSFT) at 7.0%. Livermore has 18 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2024

Share counts compared with Q3 2024: 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
16
Est. +$180.9M
Added
6
Est. +$8.33M
Reduced
116
Est. −$151.4M
Sold out
15
Est. −$11.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. MSFTMicrosoft Corp
    7.0%$35.9MHistory
  2. GOOGLAlphabet Inc.
    6.4%$33.0MHistory
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    6.2%$31.8MHistory
  4. AVGOBroadcom Inc.
    6.0%$30.8MHistory
  5. FIXComfort Systems USA Inc
    4.1%$20.9MHistory

Share of portfolio

Top 5 holdings and the other 133 positions, by share of portfolio value

  1. MSFT7.0%
  2. GOOGL6.4%
  3. TSM6.2%
  4. AVGO6.0%
  5. FIX4.1%
  6. Other 133 positions70.4%

Biggest buys

New and added positions, by estimated amount bought

  1. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +$31.8MNewHistory
  2. FIXComfort Systems USA Inc
    +$20.9MNewHistory
  3. MAMastercard Inc
    +$19.0MNewHistory
  4. COSTCostco Wholesale Corp
    +$18.0MNewHistory
  5. CPRTCopart Inc
    +$17.8MNewHistory

Largest weight increases

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

  1. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +6.17 pp0.0% → 6.2%History
  2. FIXComfort Systems USA Inc
    +4.07 pp0.0% → 4.1%History
  3. MAMastercard Inc
    +3.69 pp0.0% → 3.7%History
  4. COSTCostco Wholesale Corp
    +3.50 pp0.0% → 3.5%History
  5. CPRTCopart Inc
    +3.45 pp0.0% → 3.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GOOGLAlphabet Inc.
    −$8.83MReducedHistory
  2. AMZNAmazon Com Inc
    −$8.21MReducedHistory
  3. METAMeta Platforms, Inc.
    −$6.20MReducedHistory
  4. FISVFiserv Inc
    −$4.76MReducedHistory
  5. CCitigroup Inc
    −$4.68MReducedHistory

Largest weight decreases

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

  1. GOOGLAlphabet Inc.
    −1.49 pp7.9% → 6.4%History
  2. METAMeta Platforms, Inc.
    −1.44 pp3.1% → 1.6%History
  3. AMZNAmazon Com Inc
    −1.38 pp3.5% → 2.1%History
  4. HSICHenry Schein Inc
    −0.96 pp2.2% → 1.2%History
  5. STTState Street Corp
    −0.90 pp1.3% → 0.4%History

Metrics

13F metrics for Q4 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$515.0M
+$50.6M (+10.9%) vs. prior quarter
Positions
138
+1 vs. prior quarter
Top 10 concentration
46.6%
Top 10 as share of value
Turnover
33.2%
Q4 2024, one quarter
Average holding period
8.6 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

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

Peak $1.67B (Q1 2021)

Q1 2021: $1.67BQ2 2021: $1.54BQ3 2021: $1.29BQ4 2021: $1.28BQ1 2022: $761.6MQ2 2022: $564.2MQ3 2022: $521.6MQ4 2022: $465.6MQ1 2023: $488.5MQ2 2023: $505.9MQ3 2023: $427.2MQ4 2023: $527.9MQ1 2024: $398.4MQ2 2024: $363.8MQ3 2024: $464.4MQ4 2024: $515.0M
Q1 2021Q4 2024
13F filings of River & Mercantile Asset Management LLP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2024Feb 7, 2025138$515.0MMSFTGOOGLTSMvs. Q3 2024SEC
Q3 2024Nov 4, 2024137$464.4MGOOGLMSFTAVGOvs. Q2 2024SEC
Q2 2024Aug 12, 2024153$363.8MGOOGLAMZNMETAvs. Q1 2024SEC
Q1 2024May 7, 2024189$398.4MGOOGLAMZNMETAvs. Q4 2023SEC
Q4 2023Feb 6, 2024224$527.9MGOOGLAMZNWATvs. Q3 2023SEC
Q3 2023Nov 13, 2023204$427.2MGOOGLAMZNBKRvs. Q2 2023SEC
Q2 2023Aug 14, 2023200$505.9MGOOGLAMZNMETAvs. Q1 2023SEC
Q1 2023May 9, 2023191$488.5MGOOGLWATDISvs. Q4 2022SEC
Q4 2022Feb 13, 2023189$465.6MWATCBKRvs. Q3 2022SEC
Q3 2022Nov 18, 2022Amended172$521.6MWATMCKFISVvs. Q2 2022SEC
Q2 2022Aug 12, 2022165$564.2MWATGOOGLMCKvs. Q1 2022SEC
Q1 2022May 16, 2022157$761.6MCDISGOOGLvs. Q4 2021SEC
Q4 2021Feb 18, 2022Amended153$1.28BCOCDISvs. Q3 2021SEC
Q3 2021Nov 8, 2021151$1.29BCDISOCvs. Q2 2021SEC
Q2 2021Aug 5, 2021139$1.54BCOCDISvs. Q1 2021SEC
Q1 2021May 17, 2021131$1.67BCOCLVS–SEC

13D and 13G filings

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

Current stakes of 5% or more

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

Latest filings

4 filings on file made by River & Mercantile Asset Management LLP or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by River & Mercantile Asset Management LLP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
MXCTMaxcyte, Inc.Aug 4, 20268:42 AM ET13D0.80%834.1K shares−5.30 ppfrom 6.10%Below 5%Jul 31, 2026SEC
MXCTMaxcyte, Inc.May 14, 20269:44 AM ET13D6.10%6.53M shares+0.90 ppfrom 5.20%May 13, 2026SEC
MXCTMaxcyte, Inc.Oct 24, 202511:50 AM ET13D5.20%5.50M sharesNewSep 23, 2025SEC
River & Mercantile Asset Management LLPFeb 15, 20229:55 PM ET13GOld format–New–SEC