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Livermore
Livermore
ZHEN

Trustcore Financial Services, LLC

SEC CIK
0001730322
Latest filing
Feb 13, 2023

The latest 13F from Trustcore Financial Services, LLC covers Q4 2022 (filed Feb 13, 2023): 1,036 long positions worth $1.14B. The top 10 holdings make up 53.5% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 15.8%. Livermore has 8 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2022

Share counts compared with Q3 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
68
Est. +$3.39M
Added
223
Est. +$60.1M
Reduced
216
Est. −$53.4M
Sold out
134
Est. −$2.10M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    15.8%$179.9MHistory
  2. HCAHCA Healthcare, Inc.
    6.5%$73.8MHistory
  3. iShares MSCI Eafe ETF464287465
    5.9%$66.8M
  4. iShares U S ETF Tr46431W507
    5.7%$65.3M
  5. Vanguard Morningstar Value ETF922908744
    4.4%$49.8M

Biggest buys

New and added positions, by estimated amount bought

  1. Innovator U.S. Equity Buffer ETF - October45782C771
    +$16.7MAdded
  2. iShares Tr464288257
    +$6.42MAdded
  3. Innovator ETFs Trust45782C573
    +$4.59MAdded
  4. Schwab U.S. Broad Market ETF808524102
    +$4.34MAdded
  5. Vanguard Ftse Developed Markets ETF921943858
    +$4.01MAdded

Largest weight increases

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

  1. Innovator U.S. Equity Buffer ETF - October45782C771
    +1.47 pp0.2% → 1.7%
  2. HCAHCA Healthcare, Inc.
    +1.18 pp5.3% → 6.5%History
  3. iShares Tr464288257
    +0.57 pp0.2% → 0.8%
  4. Vanguard Ftse Developed Markets ETF921943858
    +0.41 pp0.9% → 1.3%
  5. Innovator ETFs Trust45782C573
    +0.40 pp<0.1% → 0.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. First Tr Exchng Traded FD VI33740F722
    −$9.63MReduced
  2. SPYSPDR S&P 500 ETF Trust
    −$3.62MReducedHistory
  3. iShares U S ETF Tr46431W507
    −$3.62MReduced
  4. First Tr Exchng Traded FD VI33740F763
    −$3.59MReduced
  5. iShares Core U.S. Aggregate Bond ETF464287226
    −$3.45MReduced

Largest weight decreases

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

  1. First Tr Exchng Traded FD VI33740F722
    −0.86 pp1.0% → 0.2%
  2. iShares U S ETF Tr46431W507
    −0.80 pp6.5% → 5.7%
  3. AMZNAmazon Com Inc
    −0.54 pp1.1% → 0.6%History
  4. iShares Core U.S. Aggregate Bond ETF464287226
    −0.53 pp3.4% → 2.8%
  5. SPYSPDR S&P 500 ETF Trust
    −0.46 pp16.3% → 15.8%History

Metrics

13F metrics for Q4 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.14B
+$84.4M (+8.0%) vs. prior quarter
Positions
1,036
−66 vs. prior quarter
Top 10 concentration
53.5%
Top 10 as share of value
Turnover
5.1%
Q4 2022, one quarter
Average holding period
7.7 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

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

Peak $1.16B (Q1 2022)

Q1 2021: $862.8MQ2 2021: $949.4MQ3 2021: $1.01BQ4 2021: $884.6MQ1 2022: $1.16BQ2 2022: $1.07BQ3 2022: $1.05BQ4 2022: $1.14B
Q1 2021Q4 2022
13F filings of Trustcore Financial Services, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2022Feb 13, 20231,036$1.14BSPYHCAiShares MSCI Eafe ETFvs. Q3 2022SEC
Q3 2022Nov 3, 20221,102$1.05BSPYiShares U S ETF TriShares MSCI Eafe ETFvs. Q2 2022SEC
Q2 2022Jul 26, 20221,057$1.07BSPYiShares U S ETF TriShares MSCI Eafe ETFvs. Q1 2022SEC
Q1 2022May 9, 20221,057$1.16BSPYHCAiShares MSCI Eafe ETFvs. Q4 2021SEC
Q4 2021Feb 9, 2022967$884.6MSPYHCAiShares MSCI Eafe ETFvs. Q3 2021SEC
Q3 2021Nov 8, 20211,034$1.01BSPYHCAiShares MSCI Eafe ETFvs. Q2 2021SEC
Q2 2021Aug 2, 20211,069$949.4MSPYHCAiShares MSCI Eafe ETFvs. Q1 2021SEC
Q1 2021Apr 30, 2021922$862.8MSPYHCAVanguard Morningstar Value ETF–SEC