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Livermore
Livermore
ZHEN

NextCapital Advisers, Inc.

SEC CIK
0001616454
Latest filing
Jul 8, 2022

The latest 13F from NextCapital Advisers, Inc. covers Q2 2022 (filed Jul 8, 2022): 14 long positions worth $5.15B. The top 10 holdings make up 93.8% of the portfolio, and the largest is iShares Core S&P 500 ETF at 29.6%. Livermore has 8 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2022

Share counts compared with Q1 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
0
Added
10
Est. +$243.4M
Reduced
4
Est. −$18.0M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    29.6%$1.53B
  2. iShares Core U.S. Aggregate Bond ETF464287226
    16.1%$830.8M
  3. iShares Core MSCI Eafe ETF46432F842
    15.9%$817.5M
  4. DBX ETF Tr233051432
    7.5%$384.6M
  5. iShares Core S&P Small Cap ETF464287804
    6.8%$351.4M

Share of portfolio

Top 5 holdings and the other 9 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF29.6%
  2. iShares Core U.S. Aggregate Bond ETF16.1%
  3. iShares Core MSCI Eafe ETF15.9%
  4. DBX ETF Tr7.5%
  5. iShares Core S&P Small Cap ETF6.8%
  6. Other 9 positions24.1%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$110.1MAdded
  2. iShares Core MSCI Eafe ETF46432F842
    +$59.6MAdded
  3. iShares Core MSCI Emerging Markets ETF46434G103
    +$23.3MAdded
  4. iShares Core S&P Small Cap ETF464287804
    +$16.7MAdded
  5. DBX ETF Tr233051432
    +$13.2MAdded

Largest weight increases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +0.71 pp15.4% → 16.1%
  2. iShares Core MSCI Emerging Markets ETF46434G103
    +0.19 pp5.4% → 5.6%
  3. Vanguard Total International Bond ETF92203J407
    +0.16 pp3.3% → 3.5%
  4. Schwab US Tips ETF808524870
    +0.10 pp3.9% → 4.0%
  5. DBX ETF Tr233051432
    +0.08 pp7.4% → 7.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Short-Term Bond ETF921937827
    −$6.76MReduced
  2. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    −$5.30MReduced
  3. Vanguard Scottsdale FDS92206C102
    −$4.05MReduced
  4. Vanguard Malvern FDS922020805
    −$1.87MReduced

Largest weight decreases

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

None this quarter.

Metrics

13F metrics for Q2 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$5.15B
−$484.5M (−8.6%) vs. prior quarter
Positions
14
0 vs. prior quarter
Top 10 concentration
93.8%
Top 10 as share of value
Turnover
0.3%
Q2 2022, one quarter
Average holding period
6.0 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

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

Peak $5.69B (Q4 2021)

Q1 2021: $4.28BQ2 2021: $4.85BQ3 2021: $5.13BQ4 2021: $5.69BQ1 2022: $5.64BQ2 2022: $5.15B
Q1 2021Q2 2022
13F filings of NextCapital Advisers, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2022Jul 8, 202214$5.15BiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFiShares Core MSCI Eafe ETFvs. Q1 2022SEC
Q1 2022Apr 14, 2022Amended14$5.64BiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2021SEC
Q4 2021Jan 25, 202214$5.69BiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2021SEC
Q3 2021Nov 8, 202115$5.13BiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2021SEC
Q2 2021Oct 18, 2021Amended18$4.85BiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFiShares Core MSCI Eafe ETFvs. Q1 2021SEC
Q1 2021Apr 27, 202118$4.28BiShares Core S&P 500 ETFiShares Core MSCI Eafe ETFiShares Core U.S. Aggregate Bond ETF–SEC