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Livermore
Livermore
ZHEN

Edmonds Duncan Registered Investment Advisors, LLC

SEC CIK
0001668155
Latest filing
Nov 13, 2024

The latest 13F from Edmonds Duncan Registered Investment Advisors, LLC covers Q3 2024 (filed Nov 13, 2024): 108 long positions worth $448.8M. The top 10 holdings make up 59.0% of the portfolio, and the largest is Fidelity Merrimack STR Tr at 7.7%. Livermore has 15 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2024

Share counts compared with Q2 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
6
Est. +$1.35M
Added
82
Est. +$21.6M
Reduced
5
Est. −$217.4K
Sold out
28
Est. −$7.91M

Top 5 holdings

Share of this quarter's portfolio value

  1. Fidelity Merrimack STR Tr316188309
    7.7%$34.7M
  2. Vanguard Dividend Appreciation ETF921908844
    7.7%$34.5M
  3. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    7.6%$34.0M
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    7.2%$32.3M
  5. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    7.1%$31.9M

Share of portfolio

Top 5 holdings and the other 103 positions, by share of portfolio value

  1. Fidelity Merrimack STR Tr7.7%
  2. Vanguard Dividend Appreciation ETF7.7%
  3. State Street SPDR Portfolio Developed World Ex-US ETF7.6%
  4. State Street SPDR Portfolio S&P 500 Growth ETF7.2%
  5. State Street SPDR Portfolio S&P 500 Value ETF7.1%
  6. Other 103 positions62.7%

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +$2.20MAdded
  2. Fidelity Merrimack STR Tr316188309
    +$2.14MAdded
  3. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    +$2.02MAdded
  4. Vanguard Dividend Appreciation ETF921908844
    +$1.73MAdded
  5. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +$1.72MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    +0.43 pp6.7% → 7.1%
  2. Vanguard Dividend Appreciation ETF921908844
    +0.32 pp7.4% → 7.7%
  3. State Street SPDR Portfolio Developed World Ex-US ETF78463X889
    +0.30 pp7.3% → 7.6%
  4. Vanguard Morningstar Mid-Cap Value ETF922908512
    +0.24 pp3.0% → 3.2%
  5. Dimensional ETF Trust25434V773
    +0.19 pp2.9% → 3.1%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPOTSpotify Technology S.A.
    −$408.6KSold outHistory
  2. INFAInformatica Inc.
    −$379.3KSold outHistory
  3. HWMHowmet Aerospace Inc.
    −$374.2KSold outHistory
  4. RCLRoyal Caribbean Cruises Ltd
    −$367.8KSold outHistory
  5. GWREGuidewire Software, Inc.
    −$365.3KSold outHistory

Largest weight decreases

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

  1. Vanguard Morningstar Growth ETF922908736
    −0.13 pp2.0% → 1.9%
  2. SPOTSpotify Technology S.A.
    −0.10 pp0.1% → 0.0%History
  3. INFAInformatica Inc.
    −0.09 pp0.1% → 0.0%History
  4. HWMHowmet Aerospace Inc.
    −0.09 pp0.1% → 0.0%History
  5. RCLRoyal Caribbean Cruises Ltd
    −0.09 pp0.1% → 0.0%History

Metrics

13F metrics for Q3 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$448.8M
+$38.5M (+9.4%) vs. prior quarter
Positions
108
−22 vs. prior quarter
Top 10 concentration
59.0%
Top 10 as share of value
Turnover
1.9%
Q3 2024, one quarter
Average holding period
13.1 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

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

Peak $448.8M (Q3 2024)

Q1 2021: $301.7MQ2 2021: $321.4MQ3 2021: $328.7MQ4 2021: $337.7MQ1 2022: $342.3MQ2 2022: $291.4MQ3 2022: $282.7MQ4 2022: $306.6MQ1 2023: $323.1MQ2 2023: $332.7MQ3 2023: $353.8MQ4 2023: $385.0MQ1 2024: $398.6MQ2 2024: $410.3MQ3 2024: $448.8M
Q1 2021Q3 2024
13F filings of Edmonds Duncan Registered Investment Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2024Nov 13, 2024108$448.8MFidelity Merrimack STR TrVanguard Dividend Appreciation ETFState Street SPDR Portfolio Developed World Ex-US ETFvs. Q2 2024SEC
Q2 2024Jul 16, 2024130$410.3MFidelity Merrimack STR TrVanguard Dividend Appreciation ETFState Street SPDR Portfolio Developed World Ex-US ETFvs. Q1 2024SEC
Q1 2024Apr 18, 2024137$398.6MVanEck ETF TrustVanguard Dividend Appreciation ETFState Street SPDR Portfolio Developed World Ex-US ETFvs. Q4 2023SEC
Q4 2023Jan 11, 2024133$385.0MVanEck ETF TrustState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFvs. Q3 2023SEC
Q3 2023Oct 16, 2023134$353.8MVanEck ETF TrustState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFvs. Q2 2023SEC
Q2 2023Jul 6, 2023138$332.7MVanEck ETF TrustState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFvs. Q1 2023SEC
Q1 2023Apr 12, 2023139$323.1MVanEck ETF TrustState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFvs. Q4 2022SEC
Q4 2022Jan 20, 2023135$306.6MState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFVanEck ETF Trustvs. Q3 2022SEC
Q3 2022Oct 14, 2022123$282.7MVanguard Dividend Appreciation ETFState Street SPDR Portfolio Developed World Ex-US ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q2 2022SEC
Q2 2022Jul 20, 2022127$291.4MState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q1 2022SEC
Q1 2022Apr 12, 2022142$342.3MState Street SPDR Portfolio Developed World Ex-US ETFState Street SPDR Portfolio S&P 500 Growth ETFVanguard Dividend Appreciation ETFvs. Q4 2021SEC
Q4 2021Jan 27, 2022145$337.7MState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q3 2021SEC
Q3 2021Oct 19, 2021142$328.7MState Street SPDR Portfolio Developed World Ex-US ETFState Street SPDR Portfolio S&P 500 Growth ETFVanguard Dividend Appreciation ETFvs. Q2 2021SEC
Q2 2021Jul 27, 2021140$321.4MState Street SPDR Portfolio Developed World Ex-US ETFState Street SPDR Portfolio S&P 500 Growth ETFVanguard Dividend Appreciation ETFvs. Q1 2021SEC
Q1 2021May 6, 2021129$301.7MState Street SPDR Portfolio Developed World Ex-US ETFVanguard Dividend Appreciation ETFState Street SPDR Portfolio S&P 500 Value ETF–SEC