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Livermore
Livermore
ZHEN

Vivid Financial Management, Inc.

SEC CIK
0001802911
Latest filing
Jan 21, 2022

The latest 13F from Vivid Financial Management, Inc. covers Q4 2021 (filed Jan 21, 2022): 129 long positions worth $267.5M. The top 10 holdings make up 53.5% of the portfolio, and the largest is iShares Tr at 12.1%. Livermore has 4 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2021

Share counts compared with Q3 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
10
Est. +$3.25M
Added
47
Est. +$21.0M
Reduced
59
Est. −$8.53M
Sold out
19
Est. −$6.76M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Tr46435G425
    12.1%$32.4M
  2. State Street SPDR Portfolio S&P 500 ETF78464A854
    11.6%$30.9M
  3. iShares Tr464288877
    5.4%$14.4M
  4. iShares Tr464288885
    5.4%$14.4M
  5. iShares U.S. Treasury Bond ETF46429B267
    4.9%$13.1M

Share of portfolio

Top 5 holdings and the other 124 positions, by share of portfolio value

  1. iShares Tr12.1%
  2. State Street SPDR Portfolio S&P 500 ETF11.6%
  3. iShares Tr5.4%
  4. iShares Tr5.4%
  5. iShares U.S. Treasury Bond ETF4.9%
  6. Other 124 positions60.7%

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$3.79MAdded
  2. iShares Tr464288877
    +$2.29MAdded
  3. Schwab US Tips ETF808524870
    +$1.96MAdded
  4. iShares Tr46435G425
    +$1.93MAdded
  5. iShares Tr464288885
    +$1.73MAdded

Largest weight increases

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

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +1.50 pp10.1% → 11.6%
  2. iShares Tr46435G425
    +0.71 pp11.4% → 12.1%
  3. Schwab US Tips ETF808524870
    +0.65 pp1.0% → 1.7%
  4. iShares MSCI USA Min Vol Factor ETF46429B697
    +0.58 pp0.5% → 1.1%
  5. iShares Tr464288877
    +0.37 pp5.0% → 5.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab Strategic Tr808524714
    −$1.97MReduced
  2. BRK.ABerkshire Hathaway Inc
    −$1.23MSold outHistory
  3. iShares U.S. ETF Trust iShares Gsci Commodity Dynamic Roll Strategy ETF46431W853
    −$803.7KReduced
  4. WisdomTree Tr97717X578
    −$707.9KReduced
  5. iShares Tr464287333
    −$624.9KReduced

Largest weight decreases

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

  1. Schwab Strategic Tr808524714
    −1.08 pp3.5% → 2.4%
  2. WisdomTree Tr97717X578
    −0.59 pp3.3% → 2.7%
  3. iShares U.S. ETF Trust iShares Gsci Commodity Dynamic Roll Strategy ETF46431W853
    −0.57 pp1.2% → 0.7%
  4. BRK.ABerkshire Hathaway Inc
    −0.51 pp0.5% → 0.0%History
  5. iShares Tr464287333
    −0.40 pp2.3% → 1.9%

Metrics

13F metrics for Q4 2021, computed only from the numbers in the filings. Definitions below.

Portfolio value
$267.5M
+$23.6M (+9.7%) vs. prior quarter
Positions
129
−9 vs. prior quarter
Top 10 concentration
53.5%
Top 10 as share of value
Turnover
6.0%
Q4 2021, one quarter
Average holding period
3.8 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

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

Peak $267.5M (Q4 2021)

Q1 2021: $217.6MQ2 2021: $243.4MQ3 2021: $243.9MQ4 2021: $267.5M
Q1 2021Q4 2021
13F filings of Vivid Financial Management, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2021Jan 21, 2022129$267.5MiShares TrState Street SPDR Portfolio S&P 500 ETFiShares Trvs. Q3 2021SEC
Q3 2021Oct 19, 2021138$243.9MiShares TrState Street SPDR Portfolio S&P 500 ETFiShares U.S. Treasury Bond ETFvs. Q2 2021SEC
Q2 2021Jul 14, 2021149$243.4MiShares TrState Street SPDR Portfolio S&P 500 ETFiShares U.S. Treasury Bond ETFvs. Q1 2021SEC
Q1 2021Apr 14, 2021145$217.6MiShares TrState Street SPDR Portfolio S&P 500 ETFiShares U.S. Treasury Bond ETF–SEC