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Livermore
Livermore
ZHEN

Sargent Bickham Lagudis LLC

SEC CIK
0001613939
Latest filing
Jan 23, 2023

The latest 13F from Sargent Bickham Lagudis LLC covers Q4 2022 (filed Jan 23, 2023): 1,053 long positions worth $1.22B. The top 10 holdings make up 38.8% of the portfolio, and the largest is iShares Core U.S. Aggregate Bond ETF at 8.1%. Livermore has 8 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2022

Share counts compared with Q3 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
90
Est. +$8.42M
Added
207
Est. +$93.6M
Reduced
222
Est. −$73.8M
Sold out
54
Est. −$3.89M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core U.S. Aggregate Bond ETF464287226
    8.1%$98.7M
  2. SPYSPDR S&P 500 ETF Trust
    5.8%$70.8MHistory
  3. Vanguard S&P 500 ETF922908363
    5.4%$65.8M
  4. Vanguard Ftse Developed Markets ETF921943858
    4.3%$52.3M
  5. iShares Core S&P 500 ETF464287200
    3.3%$40.1M

Share of portfolio

Top 5 holdings and the other 1,048 positions, by share of portfolio value

  1. iShares Core U.S. Aggregate Bond ETF8.1%
  2. SPY5.8%
  3. Vanguard S&P 500 ETF5.4%
  4. Vanguard Ftse Developed Markets ETF4.3%
  5. iShares Core S&P 500 ETF3.3%
  6. Other 1,048 positions73.1%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Ibonds Dec 2031 Term Corporate ETF46436E486
    +$18.3MAdded
  2. Vanguard Ftse Developed Markets ETF921943858
    +$13.6MAdded
  3. SPDR Series Trust78464A763
    +$5.99MAdded
  4. Vanguard Scottsdale FDS92206C664
    +$5.12MAdded
  5. iShares Tr464288257
    +$4.97MAdded

Largest weight increases

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

  1. iShares Ibonds Dec 2031 Term Corporate ETF46436E486
    +1.50 pp<0.1% → 1.5%
  2. Vanguard Ftse Developed Markets ETF921943858
    +1.29 pp3.0% → 4.3%
  3. SPDR Series Trust78464A763
    +0.50 pp0.3% → 0.8%
  4. iShares Tr464288257
    +0.41 pp1.5% → 1.9%
  5. Vanguard Scottsdale FDS92206C664
    +0.34 pp2.6% → 2.9%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr46436E841
    −$17.5MReduced
  2. Vanguard Index FDS922908652
    −$5.57MReduced
  3. iShares Core S&P 500 ETF464287200
    −$5.40MReduced
  4. SPYSPDR S&P 500 ETF Trust
    −$4.78MReducedHistory
  5. VanEck ETF Trust92189F437
    −$2.99MReduced

Largest weight decreases

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

  1. iShares Tr46436E841
    −1.56 pp1.6% → 0.1%
  2. iShares Core U.S. Aggregate Bond ETF464287226
    −0.81 pp8.9% → 8.1%
  3. Vanguard Index FDS922908652
    −0.55 pp2.2% → 1.6%
  4. iShares Core S&P 500 ETF464287200
    −0.51 pp3.8% → 3.3%
  5. SPYSPDR S&P 500 ETF Trust
    −0.51 pp6.3% → 5.8%History

Metrics

13F metrics for Q4 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.22B
+$101.6M (+9.1%) vs. prior quarter
Positions
1,053
+36 vs. prior quarter
Top 10 concentration
38.8%
Top 10 as share of value
Turnover
6.6%
Q4 2022, one quarter
Average holding period
7.7 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

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

Peak $1.33B (Q4 2021)

Q1 2021: $1.14BQ2 2021: $1.23BQ3 2021: $1.23BQ4 2021: $1.33BQ1 2022: $1.29BQ2 2022: $1.16BQ3 2022: $1.12BQ4 2022: $1.22B
Q1 2021Q4 2022
13F filings of Sargent Bickham Lagudis LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2022Jan 23, 20231,053$1.22BiShares Core U.S. Aggregate Bond ETFSPYVanguard S&P 500 ETFvs. Q3 2022SEC
Q3 2022Oct 27, 20221,017$1.12BiShares Core U.S. Aggregate Bond ETFSPYVanguard S&P 500 ETFvs. Q2 2022SEC
Q2 2022Jul 13, 20221,100$1.16BiShares Core U.S. Aggregate Bond ETFSPYVanguard S&P 500 ETFvs. Q1 2022SEC
Q1 2022Apr 27, 2022991$1.29BiShares Core U.S. Aggregate Bond ETFSPYVanguard S&P 500 ETFvs. Q4 2021SEC
Q4 2021Jan 18, 2022999$1.33BiShares Core U.S. Aggregate Bond ETFSPYVanguard S&P 500 ETFvs. Q3 2021SEC
Q3 2021Nov 5, 2021984$1.23BiShares Core U.S. Aggregate Bond ETFSPYVanguard Index FDSvs. Q2 2021SEC
Q2 2021Jul 19, 2021962$1.23BiShares Core U.S. Aggregate Bond ETFVanguard Index FDSSPYvs. Q1 2021SEC
Q1 2021May 24, 2021970$1.14BiShares Core U.S. Aggregate Bond ETFVanguard Index FDSSPY–SEC