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Livermore
Livermore
ZHEN

Spectrum Management Group, LLC

SEC CIK
0001534843
Latest filing
Nov 3, 2022

The latest 13F from Spectrum Management Group, LLC covers Q3 2022 (filed Nov 3, 2022): 243 long positions worth $460.3M. The top 10 holdings make up 44.7% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 13.4%. Livermore has 8 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2022

Share counts compared with Q2 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
16
Est. +$25.3M
Added
62
Est. +$84.5M
Reduced
29
Est. −$30.1M
Sold out
17
Est. −$24.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    13.4%$61.5MHistory
  2. iShares Core S&P 500 ETF464287200
    7.4%$34.2M
  3. iShares Tr46435G425
    4.5%$20.8M
  4. AAPLApple Inc.
    3.9%$18.1MHistory
  5. State Street Technology Select Sector SPDR ETF81369Y803
    3.9%$17.7M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr46434V613
    +$11.7MAdded
  2. iShares U.S. Treasury Bond ETF46429B267
    +$9.82MAdded
  3. iShares Core S&P 500 ETF464287200
    +$6.27MAdded
  4. State Street Utilities Select Sector SPDR ETF81369Y886
    +$4.98MNew
  5. iShares Core S&P Small Cap ETF464287804
    +$4.41MAdded

Largest weight increases

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

  1. iShares Tr46434V613
    +2.54 pp<0.1% → 2.6%
  2. iShares U.S. Treasury Bond ETF46429B267
    +2.12 pp0.1% → 2.2%
  3. State Street Utilities Select Sector SPDR ETF81369Y886
    +1.08 pp0.0% → 1.1%
  4. DKSDick's Sporting Goods, Inc.
    +0.92 pp0.6% → 1.5%History
  5. iShares Core S&P Small Cap ETF464287804
    +0.92 pp0.3% → 1.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. DVNDevon Energy Corp
    −$5.81MSold outHistory
  2. SPDR Series Trust78468R556
    −$5.46MReduced
  3. State Street Industrial Select Sector SPDR ETF81369Y704
    −$5.25MReduced
  4. BXBlackstone Inc.
    −$4.76MSold outHistory
  5. XOMExxonMobil Holdings Corp
    −$4.73MReducedHistory

Largest weight decreases

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

  1. HPQHP Inc
    −1.38 pp1.4% → <0.1%History
  2. DVNDevon Energy Corp
    −1.37 pp1.4% → 0.0%History
  3. State Street Industrial Select Sector SPDR ETF81369Y704
    −1.30 pp1.3% → <0.1%
  4. SPDR Series Trust78468R556
    −1.24 pp1.6% → 0.4%
  5. BXBlackstone Inc.
    −1.12 pp1.1% → 0.0%History

Metrics

13F metrics for Q3 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$460.3M
+$35.6M (+8.4%) vs. prior quarter
Positions
243
−1 vs. prior quarter
Top 10 concentration
44.7%
Top 10 as share of value
Turnover
12.4%
Q3 2022, one quarter
Average holding period
6.2 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

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

Peak $695.4M (Q4 2021)

Q1 2021: $501.8MQ2 2021: $569.0MQ3 2021: $634.8MQ4 2021: $695.4MQ1 2022: $630.8MQ2 2022: $424.7MQ3 2022: $460.3M
Q1 2021Q3 2022
13F filings of Spectrum Management Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2022Nov 3, 2022Amended243$460.3MSPYiShares Core S&P 500 ETFiShares Trvs. Q2 2022SEC
Q2 2022Jul 29, 2022244$424.7MSPYiShares Core S&P 500 ETFState Street Technology Select Sector SPDR ETFvs. Q1 2022SEC
Q1 2022May 5, 2022321$630.8MSPYiShares Core S&P 500 ETFState Street Technology Select Sector SPDR ETFvs. Q4 2021SEC
Q4 2021Feb 3, 2022317$695.4MSPYState Street Technology Select Sector SPDR ETFiShares Core S&P 500 ETFvs. Q3 2021SEC
Q3 2021Nov 3, 2021394$634.8MSPYState Street Technology Select Sector SPDR ETFiShares Core S&P 500 ETFvs. Q2 2021SEC
Q2 2021Aug 5, 2021261$569.0MSPYState Street Technology Select Sector SPDR ETFiShares Core S&P 500 ETFvs. Q1 2021SEC
Q1 2021May 6, 2021228$501.8MSPYState Street Technology Select Sector SPDR ETFiShares Core S&P 500 ETF–SEC