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Livermore
Livermore
ZHEN

Spearhead Capital Advisors, LLC

SEC CIK
0001718982
Latest filing
Nov 9, 2022

The latest 13F from Spearhead Capital Advisors, LLC covers Q3 2022 (filed Nov 9, 2022): 100 long positions worth $92.3M. The top 10 holdings make up 32.8% of the portfolio, and the largest is iShares Gold Trust (IAU) at 5.6%. 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
2
Est. +$61.0K
Added
22
Est. +$4.87M
Reduced
63
Est. −$496.1M
Sold out
82
Est. −$49.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. IAUiShares Gold Trust
    5.6%$5.13MHistory
  2. MSFTMicrosoft Corp
    4.7%$4.35MHistory
  3. iShares Core MSCI Emerging Markets ETF46434G103
    4.7%$4.32M
  4. AAPLApple Inc.
    2.9%$2.72MHistory
  5. KNSAKiniksa Pharmaceuticals International, plc
    2.8%$2.60MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core MSCI Emerging Markets ETF46434G103
    +$4.01MAdded
  2. iShares Tr464288414
    +$294.2KAdded
  3. LOWLowes Companies Inc
    +$98.4KAddedHistory
  4. AZOAutoZone Inc
    +$45.0KAddedHistory
  5. MCOMoodys Corp
    +$43.8KAddedHistory

Largest weight increases

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

  1. iShares Core MSCI Emerging Markets ETF46434G103
    +4.63 pp0.1% → 4.7%
  2. AZOAutoZone Inc
    +0.84 pp0.1% → 1.0%History
  3. MCOMoodys Corp
    +0.73 pp0.1% → 0.9%History
  4. MAMastercard Inc
    +0.70 pp0.1% → 0.8%History
  5. LOWLowes Companies Inc
    +0.64 pp0.1% → 0.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P Small Cap ETF464287804
    −$25.2MReduced
  2. Vanguard Morningstar Small-Cap Growth ETF922908595
    −$20.8MReduced
  3. Vanguard Morningstar Mid-Cap Growth ETF922908538
    −$20.0MReduced
  4. Vanguard Morningstar Mid-Cap ETF922908629
    −$18.5MReduced
  5. ADPAutomatic Data Processing Inc
    −$17.5MReducedHistory

Largest weight decreases

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

  1. iShares Core S&P Small Cap ETF464287804
    −2.89 pp4.2% → 1.3%
  2. Vanguard Morningstar Small-Cap Growth ETF922908595
    −2.23 pp3.3% → 1.0%
  3. Vanguard Morningstar Mid-Cap Growth ETF922908538
    −2.21 pp3.2% → 1.0%
  4. Vanguard Morningstar Mid-Cap ETF922908629
    −2.09 pp3.0% → 0.9%
  5. Invesco QQQ Trust Series I46090E103
    −1.64 pp1.6% → 0.0%

Metrics

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

Portfolio value
$92.3M
−$577.9M (−86.2%) vs. prior quarter
Positions
100
−80 vs. prior quarter
Top 10 concentration
32.8%
Top 10 as share of value
Turnover
1.3%
Q3 2022, one quarter
Average holding period
5.8 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 $828.4M (Q4 2021)

Q1 2021: $677.2MQ2 2021: $735.0MQ3 2021: $750.2MQ4 2021: $828.4MQ1 2022: $807.5MQ2 2022: $670.2MQ3 2022: $92.3M
Q1 2021Q3 2022
13F filings of Spearhead Capital Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2022Nov 9, 2022100$92.3MIAUMSFTiShares Core MSCI Emerging Markets ETFvs. Q2 2022SEC
Q2 2022Aug 10, 2022180$670.2MiShares Core S&P Small Cap ETFVanguard Morningstar Small-Cap Growth ETFVanguard Morningstar Mid-Cap Growth ETFvs. Q1 2022SEC
Q1 2022Apr 28, 2022193$807.5MiShares Core S&P Small Cap ETFVanguard Morningstar Mid-Cap Growth ETFVanguard Morningstar Small-Cap Growth ETFvs. Q4 2021SEC
Q4 2021Jan 25, 2022177$828.4MiShares Core S&P Small Cap ETFVanguard Morningstar Mid-Cap Growth ETFVanguard Morningstar Mid-Cap ETFvs. Q3 2021SEC
Q3 2021Oct 27, 2021184$750.2MiShares Core S&P Small Cap ETFVanguard Morningstar Mid-Cap Growth ETFVanguard Morningstar Small-Cap Growth ETFvs. Q2 2021SEC
Q2 2021Aug 10, 2021191$735.0MiShares Core S&P Small Cap ETFVanguard Morningstar Mid-Cap Growth ETFVanguard Morningstar Small-Cap Growth ETFvs. Q1 2021SEC
Q1 2021Apr 28, 2021185$677.2MiShares Core S&P Small Cap ETFVanguard Morningstar Mid-Cap Growth ETFVanguard Morningstar Small-Cap Growth ETF–SEC