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Livermore
Livermore
ZHEN

Johnson Midwest Financial, LLC

SEC CIK
0001732399
Latest filing
Nov 7, 2023

The latest 13F from Johnson Midwest Financial, LLC covers Q3 2023 (filed Nov 7, 2023): 376 long positions worth $44.7M. The top 10 holdings make up 62.9% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 13.3%. Livermore has 11 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2023

Share counts compared with Q2 2023: 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
21
Est. +$427.6K
Added
85
Est. +$379.1K
Reduced
14
Est. −$49.2M
Sold out
14
Est. −$16.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    13.3%$5.93MHistory
  2. Invesco QQQ Trust Series I46090E103
    10.1%$4.52M
  3. DIASPDR Dow Jones Industrial Average ETF Trust
    9.5%$4.24MHistory
  4. iShares S&P 500 Value ETF464287408
    8.6%$3.86M
  5. iShares S&P 500 Growth ETF464287309
    8.0%$3.57M

Biggest buys

New and added positions, by estimated amount bought

  1. AXPAmerican Express Co
    +$197.2KNewHistory
  2. WDAYWorkday, Inc.
    +$163.1KAddedHistory
  3. EQTEQT Corp
    +$129.8KNewHistory
  4. CHICalamos Convertible Opportunities & Income Fund
    +$31.6KAddedHistory
  5. RFICohen & Steers Total Return Realty Fund Inc
    +$31.4KAddedHistory

Largest weight increases

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

  1. AAPLApple Inc.
    +2.14 pp1.7% → 3.8%History
  2. BRK.BBerkshire Hathaway Inc
    +1.87 pp1.2% → 3.0%History
  3. LNTAlliant Energy Corp
    +0.86 pp0.6% → 1.5%History
  4. ARCCAres Capital Corp
    +0.56 pp0.3% → 0.9%History
  5. AXPAmerican Express Co
    +0.44 pp0.0% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares MSCI Eafe ETF464287465
    −$14.6MSold out
  2. iShares S&P 500 Growth ETF464287309
    −$10.8MReduced
  3. iShares S&P 500 Value ETF464287408
    −$10.2MReduced
  4. DIASPDR Dow Jones Industrial Average ETF Trust
    −$10.0MReducedHistory
  5. Invesco QQQ Trust Series I46090E103
    −$9.77MReduced

Largest weight decreases

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

  1. iShares MSCI Eafe ETF464287465
    −12.97 pp13.0% → 0.0%
  2. iShares S&P 500 Growth ETF464287309
    −5.16 pp13.1% → 8.0%
  3. iShares S&P 500 Value ETF464287408
    −4.45 pp13.1% → 8.6%
  4. DIASPDR Dow Jones Industrial Average ETF Trust
    −3.50 pp13.0% → 9.5%History
  5. Invesco QQQ Trust Series I46090E103
    −2.97 pp13.1% → 10.1%

Metrics

13F metrics for Q3 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$44.7M
−$68.0M (−60.3%) vs. prior quarter
Positions
376
+7 vs. prior quarter
Top 10 concentration
62.9%
Top 10 as share of value
Turnover
1.0%
Q3 2023, one quarter
Average holding period
8.1 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

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

Peak $133.3M (Q4 2021)

Q1 2021: $95.5MQ2 2021: $101.6MQ3 2021: $122.4MQ4 2021: $133.3MQ1 2022: $70.5MQ2 2022: $74.4MQ3 2022: $26.2MQ4 2022: $27.3MQ1 2023: $69.6MQ2 2023: $112.7MQ3 2023: $44.7M
Q1 2021Q3 2023
13F filings of Johnson Midwest Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2023Nov 7, 2023376$44.7MSPYInvesco QQQ Trust Series IDIAvs. Q2 2023SEC
Q2 2023Jul 20, 2023369$112.7MiShares S&P 500 Growth ETFiShares S&P 500 Value ETFInvesco QQQ Trust Series Ivs. Q1 2023SEC
Q1 2023Apr 19, 2023385$69.6MInvesco QQQ Trust Series IiShares S&P 500 Growth ETFSPYvs. Q4 2022SEC
Q4 2022Jan 26, 2023390$27.3MiShares TrFSKAAPLvs. Q3 2022SEC
Q3 2022Oct 13, 2022346$26.2MiShares TrAAPLFSKvs. Q2 2022SEC
Q2 2022Jul 18, 2022320$74.4MiShares S&P Small-Cap 600 Value ETFiShares S&P Mid-Cap 400 Value ETFiShares S&P 500 Value ETFvs. Q1 2022SEC
Q1 2022Apr 13, 2022287$70.5MiShares S&P 500 Value ETFiShares S&P Mid-Cap 400 Value ETFiShares S&P Small-Cap 600 Value ETFvs. Q4 2021SEC
Q4 2021Jan 26, 2022307$133.3MDIAInvesco QQQ Trust Series IiShares Trvs. Q3 2021SEC
Q3 2021Oct 8, 2021321$122.4MiShares TriShares S&P 500 Growth ETFInvesco QQQ Trust Series Ivs. Q2 2021SEC
Q2 2021Jul 16, 2021301$101.6MiShares Russell 2000 ETFiShares S&P Small-Cap 600 Value ETFiShares S&P Mid-Cap 400 Value ETFvs. Q1 2021SEC
Q1 2021Apr 14, 2021276$95.5MiShares Russell 2000 ETFMDYiShares S&P Small-Cap 600 Value ETF–SEC