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Livermore
Livermore
ZHEN

UBP Investment Advisors SA

SEC CIK
0001727588
Latest filing
Oct 4, 2022

The latest 13F from UBP Investment Advisors SA covers Q3 2022 (filed Oct 4, 2022): 80 long positions worth $194.2M. The top 10 holdings make up 55.1% of the portfolio, and the largest is SPDR Series Trust at 8.3%. Livermore has 8 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
1
Est. +$840.0K
Added
4
Est. +$84.5K
Reduced
27
Est. −$34.5M
Sold out
25
Est. −$11.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPDR Series Trust78468R200
    8.3%$16.0M
  2. SPDR Series Trust78464A656
    7.0%$13.6M
  3. iShares Tr464287234
    6.7%$13.0M
  4. SGOLabrdn Gold ETF Trust
    5.7%$11.1MHistory
  5. New York Life Investments Et45409B107
    5.7%$11.1M

Share of portfolio

Top 5 holdings and the other 75 positions, by share of portfolio value

  1. SPDR Series Trust8.3%
  2. SPDR Series Trust7.0%
  3. iShares Tr6.7%
  4. SGOL5.7%
  5. New York Life Investments Et5.7%
  6. Other 75 positions66.6%

Biggest buys

New and added positions, by estimated amount bought

  1. Invesco Exch TRD SLF Idx FD46138J668
    +$840.0KNew
  2. SPYSPDR S&P 500 ETF Trust
    +$42.9KAddedHistory
  3. iShares Tr464288281
    +$25.1KAdded
  4. Vanguard Ftse Emerging Markets ETF922042858
    +$10.6KAdded
  5. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +$5.96KAdded

Largest weight increases

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

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +1.07 pp3.7% → 4.7%
  2. iShares Tr464288281
    +0.57 pp2.8% → 3.4%
  3. Invesco Exch TRD SLF Idx FD46138J668
    +0.43 pp0.0% → 0.4%
  4. SPYSPDR S&P 500 ETF Trust
    +0.25 pp1.0% → 1.3%History
  5. Vanguard Ftse Emerging Markets ETF922042858
    +0.03 pp0.2% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464287234
    −$4.24MReduced
  2. SPDR Series Trust78468R200
    −$3.25MReduced
  3. iShares Inc464286392
    −$2.57MReduced
  4. SPDR Series Trust78464A656
    −$2.53MReduced
  5. New York Life Investments Et45409B107
    −$2.21MReduced

Largest weight decreases

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

  1. iShares Tr464287234
    −1.22 pp7.9% → 6.7%
  2. iShares U S ETF Tr46431W820
    −0.86 pp0.9% → 0.0%
  3. iShares Inc464286392
    −0.72 pp2.9% → 2.2%
  4. JNJJohnson & Johnson
    −0.39 pp0.4% → 0.0%History
  5. GOOGLAlphabet Inc.
    −0.37 pp0.4% → 0.0%History

Metrics

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

Portfolio value
$194.2M
−$56.1M (−22.4%) vs. prior quarter
Positions
80
−24 vs. prior quarter
Top 10 concentration
55.1%
Top 10 as share of value
Turnover
0.4%
Q3 2022, one quarter
Average holding period
6.0 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 $274.6M (Q4 2021)

Q1 2021: $244.8MQ2 2021: $270.6MQ3 2021: $257.9MQ4 2021: $274.6MQ1 2022: $258.5MQ2 2022: $250.3MQ3 2022: $194.2M
Q1 2021Q3 2022
13F filings of UBP Investment Advisors SA by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2022Oct 4, 202280$194.2MSPDR Series TrustSPDR Series TrustiShares Trvs. Q2 2022SEC
Q2 2022Oct 4, 2022Amended104$250.3MiShares TrSPDR Series TrustSPDR Series Trustvs. Q1 2022SEC
Q1 2022Apr 28, 2022100$258.5MSsga Active ETF TriShares TrTROWvs. Q4 2021SEC
Q4 2021Feb 15, 202299$274.6MiShares TrSPDR Series TrustSPDR Series Trustvs. Q3 2021SEC
Q3 2021Nov 15, 2021101$257.9MiShares TrSPDR Series TrustSPDR Series Trustvs. Q2 2021SEC
Q2 2021Jul 28, 2021108$270.6MiShares TrSPDR Series TrustSPDR Series Trustvs. Q1 2021SEC
Q1 2021May 6, 2021106$244.8MiShares TrSPDR Series TrustSPDR Series Trust–SEC