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Livermore
Livermore
ZHEN

Bray Capital Advisors

SEC CIK
0001631738
Latest filing
Feb 3, 2025

The latest 13F from Bray Capital Advisors covers Q4 2024 (filed Feb 3, 2025): 256 long positions worth $369.6M. The top 10 holdings make up 38.1% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 6.5%. Livermore has 16 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2024

Share counts compared with Q3 2024: 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
2
Est. +$1.25M
Added
22
Est. +$784.8K
Reduced
68
Est. −$45.3M
Sold out
4
Est. −$767.5K

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    6.5%$24.1MHistory
  2. Vanguard Scottsdale FDS92206C409
    6.3%$23.4M
  3. AMZNAmazon Com Inc
    3.8%$14.1MHistory
  4. GOOGLAlphabet Inc.
    3.8%$14.0MHistory
  5. iShares Tr464288646
    3.4%$12.7M

Share of portfolio

Top 5 holdings and the other 251 positions, by share of portfolio value

  1. NVDA6.5%
  2. Vanguard Scottsdale FDS6.3%
  3. AMZN3.8%
  4. GOOGL3.8%
  5. iShares Tr3.4%
  6. Other 251 positions76.1%

Biggest buys

New and added positions, by estimated amount bought

  1. SNOWSnowflake Inc.
    +$926.5KNewHistory
  2. IOVAIovance Biotherapeutics, Inc.
    +$320.3KNewHistory
  3. VRTXVertex Pharmaceuticals Inc
    +$251.3KAddedHistory
  4. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$218.8KAdded
  5. ADBEAdobe Inc.
    +$150.3KAddedHistory

Largest weight increases

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

  1. SNOWSnowflake Inc.
    +0.25 pp0.0% → 0.3%History
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +0.14 pp1.4% → 1.6%
  3. Vanguard Information Technology ETF92204A702
    +0.12 pp0.7% → 0.8%
  4. IOVAIovance Biotherapeutics, Inc.
    +0.09 pp0.0% → 0.1%History
  5. iShares Tr464288638
    +0.09 pp1.2% → 1.3%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464288646
    −$7.76MReduced
  2. NVDANVIDIA Corp
    −$5.00MReducedHistory
  3. PANWPalo Alto Networks Inc
    −$3.18MReducedConverted for a 2-for-1 splitHistory
  4. AAPLApple Inc.
    −$2.75MReducedHistory
  5. MSFTMicrosoft Corp
    −$2.23MReducedHistory

Largest weight decreases

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

  1. iShares Tr464288646
    −1.67 pp5.1% → 3.4%
  2. GLDSPDR Gold Trust
    −0.49 pp0.6% → 0.1%History
  3. PANWPalo Alto Networks Inc
    −0.45 pp2.4% → 1.9%History
  4. METAMeta Platforms, Inc.
    −0.37 pp0.4% → <0.1%History
  5. MSFTMicrosoft Corp
    −0.34 pp3.2% → 2.8%History

Metrics

13F metrics for Q4 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$369.6M
−$38.6M (−9.5%) vs. prior quarter
Positions
256
−2 vs. prior quarter
Top 10 concentration
38.1%
Top 10 as share of value
Turnover
0.5%
Q4 2024, one quarter
Average holding period
15.3 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

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

Peak $408.9M (Q4 2021)

Q1 2021: $363.2MQ2 2021: $390.1MQ3 2021: $389.9MQ4 2021: $408.9MQ1 2022: $389.3MQ2 2022: $335.2MQ3 2022: $319.3MQ4 2022: $322.1MQ1 2023: $342.6MQ2 2023: $333.5MQ3 2023: $328.3MQ4 2023: $361.1MQ1 2024: $393.8MQ2 2024: $398.6MQ3 2024: $408.2MQ4 2024: $369.6M
Q1 2021Q4 2024
13F filings of Bray Capital Advisors by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2024Feb 3, 2025256$369.6MNVDAVanguard Scottsdale FDSAMZNvs. Q3 2024SEC
Q3 2024Nov 1, 2024258$408.2MNVDAVanguard Scottsdale FDSiShares Trvs. Q2 2024SEC
Q2 2024Jul 31, 2024255$398.6MNVDAVanguard Scottsdale FDSiShares Trvs. Q1 2024SEC
Q1 2024Apr 30, 2024262$393.8MVanguard Scottsdale FDSiShares TrNVDAvs. Q4 2023SEC
Q4 2023Jan 29, 2024259$361.1MVanguard Scottsdale FDSiShares TrAAPLvs. Q3 2023SEC
Q3 2023Oct 27, 2023256$328.3MVanguard Scottsdale FDSiShares TrAAPLvs. Q2 2023SEC
Q2 2023Jul 28, 2023257$333.5MVanguard Scottsdale FDSiShares TrAAPLvs. Q1 2023SEC
Q1 2023Apr 28, 2023266$342.6MiShares TrVanguard Scottsdale FDSiShares Russell 2000 ETFvs. Q4 2022SEC
Q4 2022Jan 20, 2023267$322.1MiShares TrVanguard Scottsdale FDSVanguard BD Index FDSvs. Q3 2022SEC
Q3 2022Nov 21, 2022293$319.3MVanguard Scottsdale FDSiShares TrVanguard BD Index FDSvs. Q2 2022SEC
Q2 2022Aug 1, 2022271$335.2MVanguard Scottsdale FDSiShares TriShares Russell 2000 ETFvs. Q1 2022SEC
Q1 2022May 3, 2022276$389.3MVanguard Scottsdale FDSiShares TriShares Russell 2000 ETFvs. Q4 2021SEC
Q4 2021Jan 31, 2022279$408.9MVanguard Scottsdale FDSiShares TriShares Russell 2000 ETFvs. Q3 2021SEC
Q3 2021Oct 28, 2021271$389.9MVanguard Scottsdale FDSiShares Russell 2000 ETFAMZNvs. Q2 2021SEC
Q2 2021Jul 28, 2021265$390.1MVanguard Scottsdale FDSiShares Russell 2000 ETFAMZNvs. Q1 2021SEC
Q1 2021May 3, 2021266$363.2MVanguard Scottsdale FDSiShares Russell 2000 ETFAMZN–SEC