PFM Asset Management LLC
- SEC CIK
- 0001715304
- Latest filing
- Nov 12, 2021
The latest 13F from PFM Asset Management LLC covers Q3 2021 (filed Nov 12, 2021): 5 long positions worth $38.4M. The top 10 holdings make up 100.0% of the portfolio, and the largest is DBX ETF Tr at 41.5%. Livermore has 3 filings on Form 13F from this institution, going back to Q1 2021.
What changed in Q3 2021
Share counts compared with Q2 2021: 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.
- New
- 0
- Added
- 1
- Est. +$1.21M
- Reduced
- 3
- Est. −$769.2K
- Sold out
- 0
Top 5 holdings
Share of this quarter's portfolio value
- DBX ETF Tr23305115041.5%$15.9M
- iShares Tr46435G51634.2%$13.1M
- Exchange Traded Concepts Tr30150574915.1%$5.79M
- Invesco Exch TRD SLF Idx FD46138J8829.0%$3.45M
- iShares Tr46435U6630.1%$51.0K
Share of portfolio
Each position's share of portfolio value
- DBX ETF Tr41.5%
- iShares Tr34.2%
- Exchange Traded Concepts Tr15.1%
- Invesco Exch TRD SLF Idx FD9.0%
- iShares Tr0.1%
Biggest buys
New and added positions, by estimated amount bought
- iShares Tr46435G516+$1.21MAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- iShares Tr46435G516+2.40 pp31.8% → 34.2%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- DBX ETF Tr233051150−$554.6KReduced
- iShares Tr46435U663−$135.0KReduced
- Invesco Exch TRD SLF Idx FD46138J882−$79.7KReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- DBX ETF Tr233051150−1.80 pp43.3% → 41.5%
- iShares Tr46435U663−0.38 pp0.5% → 0.1%
- Invesco Exch TRD SLF Idx FD46138J882−0.37 pp9.4% → 9.0%
Metrics
13F metrics for Q3 2021, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $38.4M
- +$584.0K (+1.5%) vs. prior quarter
- Positions
- 5
- 0 vs. prior quarter
- Top 10 concentration
- 100.0%
- Top 10 as share of value
- Turnover
- 2.0%
- Q3 2021, one quarter
- Average holding period
- 2.8 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
3 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $38.4M (Q3 2021)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q3 2021 | Nov 12, 2021 | 5 | $38.4M | DBX ETF TriShares TrExchange Traded Concepts Tr | vs. Q2 2021 | SEC |
| Q2 2021 | Aug 13, 2021 | 5 | $37.8M | DBX ETF TriShares TrExchange Traded Concepts Tr | vs. Q1 2021 | SEC |
| Q1 2021 | May 13, 2021 | 4 | $25.6M | DBX ETF TriShares TrInvesco Exch TRD SLF Idx FD | – | SEC |