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Livermore
Livermore
ZHEN

Abbrea Capital, LLC

SEC CIK
0001697646
Latest filing
Aug 8, 2024

The latest 13F from Abbrea Capital, LLC covers Q2 2024 (filed Aug 8, 2024): 226 long positions worth $755.3M. The top 10 holdings make up 38.5% of the portfolio, and the largest is Microsoft Corp (MSFT) at 6.0%. Livermore has 14 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2024

Share counts compared with Q1 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
4
Est. +$830.0K
Added
37
Est. +$8.99M
Reduced
156
Est. −$35.1M
Sold out
25
Est. −$8.94M

Top 5 holdings

Share of this quarter's portfolio value

  1. MSFTMicrosoft Corp
    6.0%$45.5MHistory
  2. AAPLApple Inc.
    5.8%$43.8MHistory
  3. SPYSPDR S&P 500 ETF Trust
    4.8%$36.5MHistory
  4. iShares S&P 100 ETF464287101
    4.3%$32.8M
  5. NVDANVIDIA Corp
    3.7%$27.8MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. iShares MSCI India ETF46429B598
    +$1.99MAdded
  2. iShares Inc46434G764
    +$1.58MAdded
  3. Vanguard Ftse Developed Markets ETF921943858
    +$1.31MAdded
  4. Vanguard Total Bond Market ETF921937835
    +$1.15MAdded
  5. JPMorgan Ultra-Short Income ETF46641Q837
    +$774.3KAdded

Largest weight increases

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

  1. iShares MSCI India ETF46429B598
    +0.28 pp0.2% → 0.5%
  2. iShares Inc46434G764
    +0.22 pp0.4% → 0.6%
  3. Vanguard Ftse Developed Markets ETF921943858
    +0.16 pp1.5% → 1.7%
  4. Vanguard Total Bond Market ETF921937835
    +0.15 pp1.8% → 1.9%
  5. JPMorgan Ultra-Short Income ETF46641Q837
    +0.11 pp2.1% → 2.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AAPLApple Inc.
    −$3.95MReducedHistory
  2. NVDANVIDIA Corp
    −$3.61MReducedConverted for a 10-for-1 splitHistory
  3. AMZNAmazon Com Inc
    −$2.09MReducedHistory
  4. MSFTMicrosoft Corp
    −$1.90MReducedHistory
  5. Schwab Emerging Markets Equity ETF808524706
    −$1.46MSold out

Largest weight decreases

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

  1. CRMSalesforce, Inc.
    −0.43 pp1.8% → 1.4%History
  2. VVisa Inc.
    −0.25 pp2.0% → 1.8%History
  3. Schwab Emerging Markets Equity ETF808524706
    −0.19 pp0.2% → 0.0%
  4. JNJJohnson & Johnson
    −0.13 pp1.3% → 1.1%History
  5. iShares Tr464287234
    −0.12 pp0.2% → 0.1%

Metrics

13F metrics for Q2 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$755.3M
−$3.98M (−0.5%) vs. prior quarter
Positions
226
−21 vs. prior quarter
Top 10 concentration
38.5%
Top 10 as share of value
Turnover
1.3%
Q2 2024, one quarter
Average holding period
13.5 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

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

Peak $759.3M (Q1 2024)

Q1 2021: $605.3MQ2 2021: $666.0MQ3 2021: $670.0MQ4 2021: $742.4MQ1 2022: $714.0MQ2 2022: $600.8MQ3 2022: $529.2MQ4 2022: $554.5MQ1 2023: $589.0MQ2 2023: $650.2MQ3 2023: $628.8MQ4 2023: $695.8MQ1 2024: $759.3MQ2 2024: $755.3M
Q1 2021Q2 2024
13F filings of Abbrea Capital, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2024Aug 8, 2024226$755.3MMSFTAAPLSPYvs. Q1 2024SEC
Q1 2024May 7, 2024247$759.3MMSFTAAPLSPYvs. Q4 2023SEC
Q4 2023Feb 2, 2024236$695.8MAAPLMSFTSPYvs. Q3 2023SEC
Q3 2023Oct 31, 2023225$628.8MAAPLMSFTSPYvs. Q2 2023SEC
Q2 2023Aug 1, 2023230$650.2MAAPLMSFTSPYvs. Q1 2023SEC
Q1 2023May 11, 2023227$589.0MAAPLMSFTSPYvs. Q4 2022SEC
Q4 2022Feb 8, 2023222$554.5MAAPLVanguard Malvern FDSMSFTvs. Q3 2022SEC
Q3 2022Nov 3, 2022213$529.2MVanguard Malvern FDSAAPLJPMorgan Ultra-Short Income ETFvs. Q2 2022SEC
Q2 2022Aug 2, 2022226$600.8MVanguard Malvern FDSAAPLJPMorgan Ultra-Short Income ETFvs. Q1 2022SEC
Q1 2022May 11, 2022238$714.0MAAPLVanguard Malvern FDSJPMorgan Ultra-Short Income ETFvs. Q4 2021SEC
Q4 2021Feb 4, 2022248$742.4MAAPLVanguard Malvern FDSJPMorgan Ultra-Short Income ETFvs. Q3 2021SEC
Q3 2021Nov 4, 2021245$670.0MJPMorgan Ultra-Short Income ETFVanguard Malvern FDSAAPLvs. Q2 2021SEC
Q2 2021Aug 4, 2021236$666.0MJPMorgan Ultra-Short Income ETFVanguard Malvern FDSAAPLvs. Q1 2021SEC
Q1 2021May 13, 2021226$605.3MJPMorgan Ultra-Short Income ETFVanguard Malvern FDSAAPL–SEC