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Livermore
Livermore
ZHEN

Piershale Financial Group, Inc.

SEC CIK
0001554815
Latest filing
Jul 6, 2023

The latest 13F from Piershale Financial Group, Inc. covers Q2 2023 (filed Jul 6, 2023): 269 long positions worth $156.9M. The top 10 holdings make up 96.0% of the portfolio, and the largest is State Street SPDR Bloomberg 1-3 Month T-Bill ETF at 57.4%. Livermore has 10 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2023

Share counts compared with Q1 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
9
Est. +$28.6M
Added
52
Est. +$28.9M
Reduced
9
Est. −$27.9M
Sold out
37
Est. −$144.3K

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    57.4%$90.1M
  2. Schwab U.S. Large-Cap ETF808524201
    10.2%$16.0M
  3. DIASPDR Dow Jones Industrial Average ETF Trust
    10.2%$16.0MHistory
  4. Invesco QQQ Trust Series I46090E103
    4.2%$6.65M
  5. Schwab U.S. Large-Cap Growth ETF808524300
    4.1%$6.39M

Share of portfolio

Top 5 holdings and the other 264 positions, by share of portfolio value

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF57.4%
  2. Schwab U.S. Large-Cap ETF10.2%
  3. DIA10.2%
  4. Invesco QQQ Trust Series I4.2%
  5. Schwab U.S. Large-Cap Growth ETF4.1%
  6. Other 264 positions13.9%

Biggest buys

New and added positions, by estimated amount bought

  1. Schwab U.S. Large-Cap ETF808524201
    +$16.0MAdded
  2. DIASPDR Dow Jones Industrial Average ETF Trust
    +$16.0MNewHistory
  3. Invesco QQQ Trust Series I46090E103
    +$6.62MAdded
  4. Schwab U.S. Large-Cap Growth ETF808524300
    +$6.39MNew
  5. Schwab U.S. Large-Cap Value ETF808524409
    +$6.25MAdded

Largest weight increases

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

  1. Schwab U.S. Large-Cap ETF808524201
    +10.18 pp<0.1% → 10.2%
  2. DIASPDR Dow Jones Industrial Average ETF Trust
    +10.18 pp0.0% → 10.2%History
  3. Invesco QQQ Trust Series I46090E103
    +4.22 pp<0.1% → 4.2%
  4. Schwab U.S. Large-Cap Growth ETF808524300
    +4.07 pp0.0% → 4.1%
  5. Schwab U.S. Large-Cap Value ETF808524409
    +3.98 pp<0.1% → 4.0%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −$27.6MReduced
  2. NVDANVIDIA Corp
    −$281.7KReducedHistory
  3. Victory Portfolios II92647N824
    −$18.2KSold out
  4. State Street SPDR S&P Semiconductor ETF78464A862
    −$10.4KSold out
  5. State Street Utilities Select Sector SPDR ETF81369Y886
    −$8.46KSold out

Largest weight decreases

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

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −35.34 pp92.7% → 57.4%
  2. NVDANVIDIA Corp
    −0.13 pp0.2% → 0.1%History
  3. Victory Portfolios II92647N824
    −0.01 pp<0.1% → 0.0%
  4. XOMExxonMobil Holdings Corp
    −0.01 pp<0.1% → <0.1%History
  5. State Street SPDR S&P Semiconductor ETF78464A862
    −0.01 pp<0.1% → 0.0%

Metrics

13F metrics for Q2 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$156.9M
+$30.1M (+23.7%) vs. prior quarter
Positions
269
−28 vs. prior quarter
Top 10 concentration
96.0%
Top 10 as share of value
Turnover
19.8%
Q2 2023, one quarter
Average holding period
4.6 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

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

Peak $262.2M (Q4 2021)

Q1 2021: $231.1MQ2 2021: $254.0MQ3 2021: $242.7MQ4 2021: $262.2MQ1 2022: $110.1MQ2 2022: $108.4MQ3 2022: $133.2MQ4 2022: $120.6MQ1 2023: $126.9MQ2 2023: $156.9M
Q1 2021Q2 2023
13F filings of Piershale Financial Group, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2023Jul 6, 2023269$156.9MState Street SPDR Bloomberg 1-3 Month T-Bill ETFSchwab U.S. Large-Cap ETFDIAvs. Q1 2023SEC
Q1 2023Apr 12, 2023297$126.9MState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLHDvs. Q4 2022SEC
Q4 2022Jan 13, 2023299$120.6MState Street SPDR Bloomberg 1-3 Month T-Bill ETFCTSHHDvs. Q3 2022SEC
Q3 2022Oct 26, 202211$133.2MState Street SPDR Bloomberg 1-3 Month T-Bill ETFProShares Ultrashort S&P 500AAPLvs. Q2 2022SEC
Q2 2022Jul 14, 202210$108.4MState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLHDvs. Q1 2022SEC
Q1 2022Apr 11, 202211$110.1MState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLHDvs. Q4 2021SEC
Q4 2021Jan 21, 202221$262.2MSchwab U.S. Large-Cap ETFProShares TrDIAvs. Q3 2021SEC
Q3 2021Oct 20, 202129$242.7MProShares TrSchwab U.S. Large-Cap ETFDIAvs. Q2 2021SEC
Q2 2021Jul 15, 202129$254.0MiShares S&P Small-Cap 600 Value ETFiShares S&P Mid-Cap 400 Value ETFSchwab U.S. Small-Cap ETFvs. Q1 2021SEC
Q1 2021Apr 20, 202129$231.1MiShares Russell 2000 ETFiShares S&P Small-Cap 600 Value ETFiShares S&P Mid-Cap 400 Value ETF–SEC