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Livermore
Livermore
ZHEN

Corbett Road Capital Management, LLC

SEC CIK
0001799581
Latest filing
Aug 10, 2022

The latest 13F from Corbett Road Capital Management, LLC covers Q2 2022 (filed Aug 10, 2022): 87 long positions worth $58.4M. The top 10 holdings make up 29.1% of the portfolio, and the largest is iShares Trust iShares 0-1 Year Treasury Bond ETF at 5.2%. Livermore has 6 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2022

Share counts compared with Q1 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
25
Est. +$16.9M
Added
20
Est. +$9.05M
Reduced
42
Est. −$23.5M
Sold out
31
Est. −$12.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    5.2%$3.04M
  2. Vanguard S&P 500 ETF922908363
    4.9%$2.87M
  3. iShares Core U.S. Aggregate Bond ETF464287226
    2.6%$1.53M
  4. iShares Core S&P 500 ETF464287200
    2.5%$1.47M
  5. Vanguard Information Technology ETF92204A702
    2.5%$1.43M

Share of portfolio

Top 5 holdings and the other 82 positions, by share of portfolio value

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF5.2%
  2. Vanguard S&P 500 ETF4.9%
  3. iShares Core U.S. Aggregate Bond ETF2.6%
  4. iShares Core S&P 500 ETF2.5%
  5. Vanguard Information Technology ETF2.5%
  6. Other 82 positions82.3%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    +$3.04MNew
  2. iShares S&P 100 ETF464287101
    +$1.39MNew
  3. Vanguard S&P 500 ETF922908363
    +$1.31MAdded
  4. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +$1.10MNew
  5. VVisa Inc.
    +$904.0KAddedHistory

Largest weight increases

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

  1. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    +5.20 pp0.0% → 5.2%
  2. Vanguard S&P 500 ETF922908363
    +2.52 pp2.4% → 4.9%
  3. iShares S&P 100 ETF464287101
    +2.38 pp0.0% → 2.4%
  4. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    +1.89 pp0.0% → 1.9%
  5. VVisa Inc.
    +1.67 pp0.7% → 2.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Exchange Listed FDS Tr30151E665
    −$16.9MReduced
  2. ISRGIntuitive Surgical Inc
    −$577.0KSold outHistory
  3. ASMLASML Holding NV
    −$567.0KSold outHistory
  4. TGTTarget Corp
    −$551.0KSold outHistory
  5. BLKBlackRock, Inc.
    −$520.0KSold outHistory

Largest weight decreases

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

  1. Exchange Listed FDS Tr30151E665
    −25.91 pp26.1% → 0.1%
  2. ISRGIntuitive Surgical Inc
    −0.74 pp0.7% → 0.0%History
  3. ASMLASML Holding NV
    −0.73 pp0.7% → 0.0%History
  4. TGTTarget Corp
    −0.71 pp0.7% → 0.0%History
  5. BLKBlackRock, Inc.
    −0.67 pp0.7% → 0.0%History

Metrics

13F metrics for Q2 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$58.4M
−$19.3M (−24.8%) vs. prior quarter
Positions
87
−6 vs. prior quarter
Top 10 concentration
29.1%
Top 10 as share of value
Turnover
38.2%
Q2 2022, one quarter
Average holding period
3.9 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

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

Peak $77.7M (Q1 2022)

Q1 2021: $67.2MQ2 2021: $56.6MQ3 2021: $57.7MQ4 2021: $58.3MQ1 2022: $77.7MQ2 2022: $58.4M
Q1 2021Q2 2022
13F filings of Corbett Road Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2022Aug 10, 202287$58.4MiShares Trust iShares 0-1 Year Treasury Bond ETFVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2022SEC
Q1 2022May 10, 202293$77.7MExchange Listed FDS TriShares Core S&P 500 ETFVanguard Information Technology ETFvs. Q4 2021SEC
Q4 2021Feb 4, 202296$58.3MiShares Core S&P 500 ETFVanguard Information Technology ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2021SEC
Q3 2021Nov 5, 202197$57.7MiShares Core U.S. Aggregate Bond ETFiShares Core S&P 500 ETFVanguard Information Technology ETFvs. Q2 2021SEC
Q2 2021Jul 27, 2021101$56.6MiShares Core U.S. Aggregate Bond ETFiShares Core S&P 500 ETFHartford FDS Exchange Tradedvs. Q1 2021SEC
Q1 2021Apr 26, 202199$67.2MiShares Core S&P 500 ETFiShares Core U.S. Aggregate Bond ETFInvesco Actively Managed Exc–SEC