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Livermore
Livermore
ZHEN

Heron Financial Group, LLC

SEC CIK
0001803648
Latest filing
Aug 10, 2023

The latest 13F from Heron Financial Group, LLC covers Q2 2023 (filed Aug 10, 2023): 142 long positions worth $185.6M. The top 10 holdings make up 43.2% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 5.5%. Livermore has 10 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2023

Share counts compared with Q1 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
3
Est. +$697.8K
Added
47
Est. +$760.7K
Reduced
52
Est. −$3.87M
Sold out
5
Est. −$1.09M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    5.5%$10.3M
  2. Vanguard S&P 500 ETF922908363
    5.3%$9.92M
  3. iShares MSCI Eafe Min Vol Factor ETF46429B689
    4.6%$8.60M
  4. iShares Russell Midcap ETF464287499
    4.5%$8.29M
  5. iShares Russell Mid-Cap Growth ETF464287481
    4.4%$8.20M

Share of portfolio

Top 5 holdings and the other 137 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF5.5%
  2. Vanguard S&P 500 ETF5.3%
  3. iShares MSCI Eafe Min Vol Factor ETF4.6%
  4. iShares Russell Midcap ETF4.5%
  5. iShares Russell Mid-Cap Growth ETF4.4%
  6. Other 137 positions75.6%

Biggest buys

New and added positions, by estimated amount bought

  1. ProShares Tr74347X831
    +$287.0KNew
  2. BAXBaxter International Inc
    +$207.1KNewHistory
  3. WFCWells Fargo & Company
    +$203.7KNewHistory
  4. TMUST-Mobile US, Inc.
    +$101.5KAddedHistory
  5. J P Morgan Exchange Traded F46641Q308
    +$57.0KAdded

Largest weight increases

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

  1. ProShares Tr74347X831
    +0.15 pp0.0% → 0.2%
  2. AMZNAmazon Com Inc
    +0.15 pp0.6% → 0.8%History
  3. NVDANVIDIA Corp
    +0.14 pp0.3% → 0.4%History
  4. BAXBaxter International Inc
    +0.11 pp0.0% → 0.1%History
  5. WFCWells Fargo & Company
    +0.11 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares MSCI Eafe Min Vol Factor ETF46429B689
    −$491.1KReduced
  2. iShares Russell Mid-Cap Growth ETF464287481
    −$435.0KReduced
  3. iShares Russell Midcap ETF464287499
    −$392.1KReduced
  4. iShares S&P Mid-Cap 400 Value ETF464287705
    −$368.6KReduced
  5. Pacer US Cash Cows 100 ETF69374H881
    −$340.3KReduced

Largest weight decreases

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

  1. iShares MSCI Eafe Min Vol Factor ETF46429B689
    −0.39 pp5.0% → 4.6%
  2. Pacer US Cash Cows 100 ETF69374H881
    −0.19 pp1.3% → 1.1%
  3. VLOValero Energy Corp
    −0.16 pp0.8% → 0.6%History
  4. MRNAModerna, Inc.
    −0.13 pp0.1% → 0.0%History
  5. TGTTarget Corp
    −0.13 pp0.1% → 0.0%History

Metrics

13F metrics for Q2 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$185.6M
+$4.19M (+2.3%) vs. prior quarter
Positions
142
−2 vs. prior quarter
Top 10 concentration
43.2%
Top 10 as share of value
Turnover
0.8%
Q2 2023, one quarter
Average holding period
7.8 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

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

Peak $192.3M (Q1 2022)

Q1 2021: $164.8MQ2 2021: $175.1MQ3 2021: $179.5MQ4 2021: $185.6MQ1 2022: $192.3MQ2 2022: $164.8MQ3 2022: $161.8MQ4 2022: $149.7MQ1 2023: $181.4MQ2 2023: $185.6M
Q1 2021Q2 2023
13F filings of Heron Financial Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2023Aug 10, 2023142$185.6MVanguard Morningstar Growth ETFVanguard S&P 500 ETFiShares MSCI Eafe Min Vol Factor ETFvs. Q1 2023SEC
Q1 2023Apr 19, 2023144$181.4MVanguard Morningstar Growth ETFVanguard S&P 500 ETFiShares MSCI Eafe Min Vol Factor ETFvs. Q4 2022SEC
Q4 2022Feb 14, 2023128$149.7MiShares TriShares S&P Mid-Cap 400 Value ETFiShares Russell Midcap ETFvs. Q3 2022SEC
Q3 2022Oct 27, 2022132$161.8MVanguard S&P 500 ETFVanguard Morningstar Growth ETFiShares MSCI Eafe Min Vol Factor ETFvs. Q2 2022SEC
Q2 2022Jul 29, 2022138$164.8MVanguard S&P 500 ETFVanguard Morningstar Growth ETFVanguard High Dividend Yield Index ETFvs. Q1 2022SEC
Q1 2022May 12, 2022152$192.3MVanguard S&P 500 ETFVanguard Morningstar Growth ETFVanguard High Dividend Yield Index ETFvs. Q4 2021SEC
Q4 2021Feb 4, 2022147$185.6MVanguard Morningstar Growth ETFVanguard S&P 500 ETFVanguard High Dividend Yield Index ETFvs. Q3 2021SEC
Q3 2021Nov 4, 2021143$179.5MVanguard Morningstar Growth ETFVanguard S&P 500 ETFiShares MSCI Eafe Min Vol Factor ETFvs. Q2 2021SEC
Q2 2021Aug 16, 2021143$175.1MVanguard Morningstar Growth ETFVanguard S&P 500 ETFiShares MSCI Eafe Min Vol Factor ETFvs. Q1 2021SEC
Q1 2021Apr 14, 2021142$164.8MVanguard Morningstar Growth ETFVanguard S&P 500 ETFiShares MSCI Eafe Min Vol Factor ETF–SEC