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Livermore
Livermore
ZHEN

Covey Capital Advisors, LLC

SEC CIK
0001568891
Latest filing
Aug 4, 2025

The latest 13F from Covey Capital Advisors, LLC covers Q2 2025 (filed Aug 4, 2025): 42 long positions worth $92.9M. The top 10 holdings make up 62.9% of the portfolio, and the largest is Berkshire Hathaway Inc (BRK.B) at 10.2%. Livermore has 18 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2025

Share counts compared with Q1 2025: 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
4
Est. +$3.88M
Added
9
Est. +$2.55M
Reduced
12
Est. −$4.05M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. BRK.BBerkshire Hathaway Inc
    10.2%$9.51MHistory
  2. KKRKKR & Co. Inc.
    9.7%$9.04MHistory
  3. VVisa Inc.
    8.9%$8.24MHistory
  4. BKNGBooking Holdings Inc.
    7.0%$6.47MHistory
  5. PGRProgressive Corp
    5.8%$5.36MHistory

Share of portfolio

Top 5 holdings and the other 37 positions, by share of portfolio value

  1. BRK.B10.2%
  2. KKR9.7%
  3. V8.9%
  4. BKNG7.0%
  5. PGR5.8%
  6. Other 37 positions58.4%

Biggest buys

New and added positions, by estimated amount bought

  1. WDAYWorkday, Inc.
    +$1.32MNewHistory
  2. FCNCAFirst Citizens Bancshares Inc
    +$1.31MAddedHistory
  3. AMRZAmrize Ltd
    +$1.18MNewHistory
  4. SDHCSmith Douglas Homes Corp.
    +$704.9KNewHistory
  5. AAONAaon, Inc.
    +$676.3KNewHistory

Largest weight increases

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

  1. WDAYWorkday, Inc.
    +1.43 pp0.0% → 1.4%History
  2. FCNCAFirst Citizens Bancshares Inc
    +1.40 pp0.7% → 2.1%History
  3. AMRZAmrize Ltd
    +1.27 pp0.0% → 1.3%History
  4. BKNGBooking Holdings Inc.
    +1.09 pp5.9% → 7.0%History
  5. SDHCSmith Douglas Homes Corp.
    +0.76 pp0.0% → 0.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GOOGAlphabet Inc.
    −$1.30MReducedHistory
  2. BRK.BBerkshire Hathaway Inc
    −$1.11MReducedHistory
  3. BROBrown & Brown, Inc.
    −$448.1KReducedHistory
  4. KKRKKR & Co. Inc.
    −$222.2KReducedHistory
  5. AAPLApple Inc.
    −$205.2KReducedHistory

Largest weight decreases

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

  1. BRK.BBerkshire Hathaway Inc
    −3.17 pp13.4% → 10.2%History
  2. BROBrown & Brown, Inc.
    −1.18 pp4.2% → 3.0%History
  3. GOOGAlphabet Inc.
    −1.09 pp5.1% → 4.0%History
  4. CPRTCopart Inc
    −1.03 pp4.8% → 3.8%History
  5. AAPLApple Inc.
    −0.40 pp1.3% → 0.9%History

Metrics

13F metrics for Q2 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$92.9M
+$6.11M (+7.0%) vs. prior quarter
Positions
42
+4 vs. prior quarter
Top 10 concentration
62.9%
Top 10 as share of value
Turnover
4.5%
Q2 2025, one quarter
Average holding period
14.1 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

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

Peak $132.8M (Q2 2021)

Q1 2021: $120.5MQ2 2021: $132.8MQ3 2021: $125.2MQ4 2021: $124.6MQ1 2022: $96.6MQ2 2022: $67.8MQ3 2022: $58.9MQ4 2022: $61.4MQ1 2023: $62.7MQ2 2023: $69.0MQ3 2023: $70.5MQ4 2023: $78.8MQ1 2024: $82.8MQ2 2024: $86.7MQ3 2024: $90.6MQ4 2024: $88.0MQ1 2025: $86.8MQ2 2025: $92.9M
Q1 2021Q2 2025
13F filings of Covey Capital Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Aug 4, 202542$92.9MBRK.BKKRVvs. Q1 2025SEC
Q1 2025Apr 30, 202538$86.8MBRK.BVKKRvs. Q4 2024SEC
Q4 2024Feb 3, 202535$88.0MKKRBRK.BVvs. Q3 2024SEC
Q3 2024Nov 14, 202436$90.6MBRK.BKKRVvs. Q2 2024SEC
Q2 2024Aug 14, 202438$86.7MBRK.BKKRVvs. Q1 2024SEC
Q1 2024May 15, 202436$82.8MBRK.BKKRVvs. Q4 2023SEC
Q4 2023Feb 8, 202435$78.8MBRK.BKKRVvs. Q3 2023SEC
Q3 2023Nov 14, 202335$70.5MBRK.BVKKRvs. Q2 2023SEC
Q2 2023Aug 11, 202333$69.0MBRK.BVKKRvs. Q1 2023SEC
Q1 2023May 15, 202330$62.7MBRK.BVKKRvs. Q4 2022SEC
Q4 2022Feb 14, 202330$61.4MBRK.BKKRVvs. Q3 2022SEC
Q3 2022Nov 10, 202231$58.9MBRK.BKKRVvs. Q2 2022SEC
Q2 2022Aug 11, 202233$67.8MBRK.BKKRVvs. Q1 2022SEC
Q1 2022May 13, 202239$96.6MBRK.BKKR & Co. Inc.Vvs. Q4 2021SEC
Q4 2021Feb 4, 202237$124.6MKKR & Co. Inc.BRK.BGOOGvs. Q3 2021SEC
Q3 2021Nov 5, 202136$125.2MKKR & Co. Inc.BRK.BCVNAvs. Q2 2021SEC
Q2 2021Aug 10, 202136$132.8MKKR & Co. Inc.BRK.BCVNAvs. Q1 2021SEC
Q1 2021May 13, 202138$120.5MBRK.BKKR & Co. Inc.CVNA–SEC