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Livermore
Livermore
ZHEN

Brightworth

SEC CIK
0001656666
Latest filing
Oct 28, 2022

The latest 13F from Brightworth covers Q3 2022 (filed Oct 28, 2022): 126 long positions worth $933.4M. The top 10 holdings make up 60.0% of the portfolio, and the largest is iShares Core MSCI Total International Stock ETF at 17.8%. Livermore has 7 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2022

Share counts compared with Q2 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
5
Est. +$8.60M
Added
68
Est. +$64.9M
Reduced
36
Est. −$11.6M
Sold out
7
Est. −$2.63M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core MSCI Total International Stock ETF46432F834
    17.8%$166.0M
  2. iShares Core S&P 500 ETF464287200
    16.0%$149.0M
  3. Vanguard Mun BD FDS922907746
    7.0%$65.6M
  4. State Street Technology Select Sector SPDR ETF81369Y803
    6.6%$61.7M
  5. Vanguard Total Bond Market ETF921937835
    3.4%$31.8M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Mun BD FDS922907746
    +$23.2MAdded
  2. iShares Core S&P 500 ETF464287200
    +$15.4MAdded
  3. iShares Core MSCI Total International Stock ETF46432F834
    +$6.66MAdded
  4. Vanguard Star FDS921909768
    +$5.58MAdded
  5. KOCoca Cola Co
    +$3.41MAddedHistory

Largest weight increases

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

  1. Vanguard Mun BD FDS922907746
    +2.31 pp4.7% → 7.0%
  2. iShares Core S&P 500 ETF464287200
    +0.82 pp15.1% → 16.0%
  3. Vanguard Star FDS921909768
    +0.49 pp0.9% → 1.4%
  4. iShares Tr464288414
    +0.36 pp0.0% → 0.4%
  5. KOCoca Cola Co
    +0.33 pp0.3% → 0.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Large-Cap ETF922908637
    −$4.90MReduced
  2. iShares Core MSCI Emerging Markets ETF46434G103
    −$3.09MReduced
  3. iShares Core S&P Mid-Cap ETF464287507
    −$1.05MReduced
  4. iShares Tr464288307
    −$1.03MSold out
  5. iShares Tr464289867
    −$662.0KSold out

Largest weight decreases

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

  1. Vanguard Morningstar Large-Cap ETF922908637
    −0.58 pp1.1% → 0.5%
  2. iShares Core MSCI Emerging Markets ETF46434G103
    −0.39 pp0.4% → 0.1%
  3. VZVerizon Communications Inc
    −0.26 pp1.0% → 0.7%History
  4. AMTAmerican Tower Corp
    −0.23 pp1.3% → 1.1%History
  5. VVisa Inc.
    −0.13 pp1.3% → 1.2%History

Metrics

13F metrics for Q3 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$933.4M
+$635.0K (+0.1%) vs. prior quarter
Positions
126
−2 vs. prior quarter
Top 10 concentration
60.0%
Top 10 as share of value
Turnover
1.5%
Q3 2022, one quarter
Average holding period
6.8 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

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

Peak $1.17B (Q2 2021)

Q1 2021: $1.08BQ2 2021: $1.17BQ3 2021: $1.10BQ4 2021: $1.09BQ1 2022: $986.5MQ2 2022: $932.8MQ3 2022: $933.4M
Q1 2021Q3 2022
13F filings of Brightworth by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2022Oct 28, 2022126$933.4MiShares Core MSCI Total International Stock ETFiShares Core S&P 500 ETFVanguard Mun BD FDSvs. Q2 2022SEC
Q2 2022Jul 25, 2022128$932.8MiShares Core MSCI Total International Stock ETFiShares Core S&P 500 ETFState Street Technology Select Sector SPDR ETFvs. Q1 2022SEC
Q1 2022Apr 29, 2022120$986.5MiShares Core MSCI Total International Stock ETFiShares Core S&P 500 ETFState Street Technology Select Sector SPDR ETFvs. Q4 2021SEC
Q4 2021Jan 26, 2022123$1.09BiShares Core S&P 500 ETFiShares Core MSCI Total International Stock ETFState Street Technology Select Sector SPDR ETFvs. Q3 2021SEC
Q3 2021Oct 27, 2021110$1.10BiShares Core S&P 500 ETFiShares Core MSCI Total International Stock ETFState Street Technology Select Sector SPDR ETFvs. Q2 2021SEC
Q2 2021Jul 29, 2021102$1.17BiShares Core S&P 500 ETFiShares Core MSCI Total International Stock ETFState Street Technology Select Sector SPDR ETFvs. Q1 2021SEC
Q1 2021Apr 19, 202199$1.08BiShares Core S&P 500 ETFiShares Core MSCI Total International Stock ETFState Street Technology Select Sector SPDR ETF–SEC