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Livermore
Livermore
ZHEN

Must Asset Management Inc.

SEC CIK
0001806987
Latest filing
Nov 7, 2023

The latest 13F from Must Asset Management Inc. covers Q3 2023 (filed Nov 7, 2023): 21 long positions worth $40.9M. The top 10 holdings make up 83.3% of the portfolio, and the largest is Sea Ltd (SE) at 18.1%. Livermore has 11 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2023

Share counts compared with Q2 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
9
Est. +$18.7M
Added
2
Est. +$903.0K
Reduced
6
Est. −$5.87M
Sold out
11
Est. −$5.13M

Top 5 holdings

Share of this quarter's portfolio value

  1. SESea Ltd
    18.1%$7.40MHistory
  2. NENoble Corp plc
    12.7%$5.19MHistory
  3. TMDXTransMedics Group, Inc.
    12.6%$5.17MHistory
  4. STNGScorpio Tankers Inc.
    10.2%$4.19MHistory
  5. TDWTidewater Inc
    8.8%$3.59MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. TMDXTransMedics Group, Inc.
    +$5.17MNewHistory
  2. STNGScorpio Tankers Inc.
    +$4.19MNewHistory
  3. TDWTidewater Inc
    +$3.59MNewHistory
  4. HIMSHims & Hers Health, Inc.
    +$1.60MNewHistory
  5. NVDANVIDIA Corp
    +$1.38MNewHistory

Largest weight increases

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

  1. TMDXTransMedics Group, Inc.
    +12.65 pp0.0% → 12.6%History
  2. STNGScorpio Tankers Inc.
    +10.24 pp0.0% → 10.2%History
  3. TDWTidewater Inc
    +8.78 pp0.0% → 8.8%History
  4. HIMSHims & Hers Health, Inc.
    +3.91 pp0.0% → 3.9%History
  5. NVDANVIDIA Corp
    +3.37 pp0.0% → 3.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. INMDInMode Ltd.
    −$3.43MReducedHistory
  2. FROFrontline plc
    −$1.05MSold outHistory
  3. SESea Ltd
    −$994.7KReducedHistory
  4. CMBTCmb.tech NV
    −$795.7KSold outHistory
  5. Eneti IncY2294C107
    −$722.0KReduced

Largest weight decreases

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

  1. SESea Ltd
    −14.69 pp32.8% → 18.1%History
  2. INMDInMode Ltd.
    −11.76 pp15.1% → 3.4%History
  3. Eneti IncY2294C107
    −4.01 pp8.8% → 4.8%
  4. FROFrontline plc
    −2.89 pp2.9% → 0.0%History
  5. CMBTCmb.tech NV
    −2.19 pp2.2% → 0.0%History

Metrics

13F metrics for Q3 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$40.9M
+$4.61M (+12.7%) vs. prior quarter
Positions
21
−2 vs. prior quarter
Top 10 concentration
83.3%
Top 10 as share of value
Turnover
28.5%
Q3 2023, one quarter
Average holding period
2.9 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

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

Peak $198.4M (Q1 2022)

Q1 2021: $127.7MQ2 2021: $141.7MQ3 2021: $154.5MQ4 2021: $186.8MQ1 2022: $198.4MQ2 2022: $133.7MQ3 2022: $121.5MQ4 2022: $44.2MQ1 2023: $40.2MQ2 2023: $36.3MQ3 2023: $40.9M
Q1 2021Q3 2023
13F filings of Must Asset Management Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2023Nov 7, 202321$40.9MSENETMDXvs. Q2 2023SEC
Q2 2023Aug 9, 202323$36.3MSEINMDNEvs. Q1 2023SEC
Q1 2023May 12, 202315$40.2MSEPGNYEneti Incvs. Q4 2022SEC
Q4 2022Feb 7, 202313$44.2MSEPGNYATVIvs. Q3 2022SEC
Q3 2022Nov 8, 202229$121.5MSEFarfetch LtdCVNAvs. Q2 2022SEC
Q2 2022Aug 10, 202236$133.7MFarfetch LtdCVNASEvs. Q1 2022SEC
Q1 2022May 11, 202253$198.4MSEKLRHEPSvs. Q4 2021SEC
Q4 2021Feb 10, 202249$186.8MKLRAPIHEPSvs. Q3 2021SEC
Q3 2021Nov 12, 202140$154.5MKLRAPIUBERvs. Q2 2021SEC
Q2 2021Aug 12, 202132$141.7MKLRUBERLOTZvs. Q1 2021SEC
Q1 2021May 11, 202133$127.7MKLRUBERNYT–SEC

13D and 13G filings

Companies where Must Asset Management Inc. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Must Asset Management Inc. does not currently report owning 5% or more of any company.

Latest filings

10 filings on file made by Must Asset Management Inc. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Must Asset Management Inc.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
SRXHSRX Global Inc.Feb 7, 202313G/AOld format–––SEC
MYOMyomo, Inc.Feb 7, 202313G/AOld format–––SEC
KLRKaleyra, Inc.Feb 7, 202313G/AOld format–––SEC
SRXHSRX Global Inc.May 18, 202213G/AOld format–––SEC
MYOMyomo, Inc.May 18, 202213G/AOld format–––SEC
KLRKaleyra, Inc.May 18, 202213G/AOld format–––SEC
SRXHSRX Global Inc.Nov 4, 202113GOld format–New–SEC
MYOMyomo, Inc.May 11, 202113GOld format–New–SEC
KLRKaleyra, Inc.Jan 28, 202113G/AOld format–––SEC
GMEGameStop Corp.Jan 28, 202113G/AOld format–––SEC