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Livermore
Livermore
ZHEN

C-J Advisory, Inc.

SEC CIK
0001773030
Latest filing
Oct 13, 2021

The latest 13F from C-J Advisory, Inc. covers Q3 2021 (filed Oct 13, 2021): 34 long positions worth $188.8M. The top 10 holdings make up 71.6% of the portfolio, and the largest is Flexshares Tr at 18.4%. 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.

Full comparison
New
1
Est. +$204.0K
Added
21
Est. +$4.46M
Reduced
8
Est. −$578.2K
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. Flexshares Tr33939L100
    18.4%$34.7M
  2. Vanguard Morningstar Large-Cap ETF922908637
    8.5%$16.1M
  3. Flexshares Tr33939L803
    7.3%$13.7M
  4. iShares Tr464289446
    7.1%$13.4M
  5. iShares Core U.S. Aggregate Bond ETF464287226
    6.9%$13.0M

Share of portfolio

Top 5 holdings and the other 29 positions, by share of portfolio value

  1. Flexshares Tr18.4%
  2. Vanguard Morningstar Large-Cap ETF8.5%
  3. Flexshares Tr7.3%
  4. iShares Tr7.1%
  5. iShares Core U.S. Aggregate Bond ETF6.9%
  6. Other 29 positions51.9%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +$836.0KAdded
  2. Vanguard Short-Term Bond ETF921937827
    +$683.8KAdded
  3. Flexshares Tr33939L803
    +$538.5KAdded
  4. Flexshares Tr33939L100
    +$486.6KAdded
  5. iShares Core MSCI Eafe ETF46432F842
    +$411.6KAdded

Largest weight increases

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

  1. iShares Core U.S. Aggregate Bond ETF464287226
    +0.33 pp6.6% → 6.9%
  2. Vanguard Short-Term Bond ETF921937827
    +0.28 pp5.0% → 5.3%
  3. Vanguard Morningstar Growth ETF922908736
    +0.13 pp2.4% → 2.5%
  4. iShares Core MSCI Eafe ETF46432F842
    +0.11 pp5.0% → 5.1%
  5. BACBank of America Corp
    +0.11 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464288570
    −$168.9KReduced
  2. iShares Tr464289859
    −$135.5KReduced
  3. iShares Tr464288802
    −$103.3KReduced
  4. Nushares ETF Tr67092P607
    −$86.6KReduced
  5. SPYSPDR S&P 500 ETF Trust
    −$76.8KReducedHistory

Largest weight decreases

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

  1. Nushares ETF Tr67092P607
    −0.16 pp2.3% → 2.2%
  2. iShares Tr464288570
    −0.13 pp4.5% → 4.4%
  3. iShares Tr464288802
    −0.08 pp3.2% → 3.1%
  4. iShares Tr464289859
    −0.08 pp0.2% → 0.1%
  5. SPYSPDR S&P 500 ETF Trust
    −0.05 pp1.3% → 1.2%History

Metrics

13F metrics for Q3 2021, computed only from the numbers in the filings. Definitions below.

Portfolio value
$188.8M
+$2.45M (+1.3%) vs. prior quarter
Positions
34
+1 vs. prior quarter
Top 10 concentration
71.6%
Top 10 as share of value
Turnover
0.3%
Q3 2021, one quarter
Average holding period
3.0 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

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

Peak $188.8M (Q3 2021)

Q1 2021: $171.6MQ2 2021: $186.4MQ3 2021: $188.8M
Q1 2021Q3 2021
13F filings of C-J Advisory, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2021Oct 13, 202134$188.8MFlexshares TrVanguard Morningstar Large-Cap ETFFlexshares Trvs. Q2 2021SEC
Q2 2021Jul 28, 202133$186.4MFlexshares TrVanguard Morningstar Large-Cap ETFFlexshares Trvs. Q1 2021SEC
Q1 2021May 6, 202133$171.6MFlexshares TrVanguard Morningstar Large-Cap ETFFlexshares Tr–SEC