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Livermore
Livermore
ZHEN

Cascadia Advisory Services, LLC

SEC CIK
0001800724
Latest filing
Nov 12, 2021

The latest 13F from Cascadia Advisory Services, LLC covers Q3 2021 (filed Nov 12, 2021): 246 long positions worth $493.2M. The top 10 holdings make up 23.9% of the portfolio, and the largest is Vanguard S&P 500 ETF at 3.8%. 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
21
Est. +$40.4M
Added
126
Est. +$57.8M
Reduced
94
Est. −$29.0M
Sold out
14
Est. −$37.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    3.8%$19.0M
  2. SPYSPDR S&P 500 ETF Trust
    3.0%$14.6MHistory
  3. iShares Core S&P 500 ETF464287200
    2.8%$13.6M
  4. First Tr Exchange-Traded FD33733E872
    2.3%$11.3M
  5. iShares Tr464287457
    2.2%$10.8M

Biggest buys

New and added positions, by estimated amount bought

  1. Innovator ETFs Trust45782C672
    +$10.8MNew
  2. iShares Tr464287440
    +$10.1MNew
  3. iShares Tr464287457
    +$10.1MAdded
  4. iShares Russell 2000 ETF464287655
    +$7.50MAdded
  5. iShares Tr464288513
    +$4.74MAdded

Largest weight increases

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

  1. Innovator ETFs Trust45782C672
    +2.19 pp0.0% → 2.2%
  2. iShares Tr464287440
    +2.04 pp0.0% → 2.0%
  3. iShares Tr464287457
    +2.03 pp0.2% → 2.2%
  4. iShares Russell 2000 ETF464287655
    +1.45 pp0.7% → 2.1%
  5. iShares Tr464288513
    +0.93 pp0.5% → 1.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Innovator ETFs Trust45782C730
    −$10.7MSold out
  2. ProShares Tr74347R842
    −$10.1MSold out
  3. Invesco QQQ Trust Series I46090E103
    −$9.20MSold out
  4. SPYSPDR S&P 500 ETF Trust
    −$3.08MReducedHistory
  5. iShares Core S&P 500 ETF464287200
    −$2.77MReduced

Largest weight decreases

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

  1. Innovator ETFs Trust45782C730
    −2.31 pp2.3% → 0.0%
  2. ProShares Tr74347R842
    −2.17 pp2.2% → 0.0%
  3. Invesco QQQ Trust Series I46090E103
    −1.98 pp2.0% → 0.0%
  4. SPYSPDR S&P 500 ETF Trust
    −0.84 pp3.8% → 3.0%History
  5. iShares Core S&P 500 ETF464287200
    −0.77 pp3.5% → 2.8%

Metrics

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

Portfolio value
$493.2M
+$29.7M (+6.4%) vs. prior quarter
Positions
246
+7 vs. prior quarter
Top 10 concentration
23.9%
Top 10 as share of value
Turnover
13.8%
Q3 2021, one quarter
Average holding period
2.8 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 $493.2M (Q3 2021)

Q1 2021: $451.4MQ2 2021: $463.5MQ3 2021: $493.2M
Q1 2021Q3 2021
13F filings of Cascadia Advisory Services, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2021Nov 12, 2021246$493.2MVanguard S&P 500 ETFSPYiShares Core S&P 500 ETFvs. Q2 2021SEC
Q2 2021Aug 11, 2021239$463.5MSPYVanguard S&P 500 ETFiShares Core S&P 500 ETFvs. Q1 2021SEC
Q1 2021May 13, 2021225$451.4MFirst Tr Exchng Traded FD VIInnovator ETFs TrustiShares Core S&P 500 ETF–SEC