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Livermore
Livermore
ZHEN

Minot Capital, LP

SEC CIK
0001835714
Latest filing
Nov 13, 2024

The latest 13F from Minot Capital, LP covers Q3 2024 (filed Nov 13, 2024): 6 long positions worth $353.3M. The top 10 holdings make up 100.0% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 56.6%. Livermore has 17 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2024

Share counts compared with Q2 2024: 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
0
Added
1
Est. +$100.2M
Reduced
0
Sold out
6
Est. −$97.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    56.6%$200.1MHistory
  2. iShares Tr464288257
    29.0%$102.4M
  3. iShares MSCI Eafe ETF464287465
    7.6%$26.9M
  4. Vanguard Scottsdale FDS92206C102
    5.9%$20.8M
  5. iShares Core MSCI Emerging Markets ETF46434G103
    0.6%$2.27M

Share of portfolio

Top 5 holdings and the other 1 position, by share of portfolio value

  1. SPY56.6%
  2. iShares Tr29.0%
  3. iShares MSCI Eafe ETF7.6%
  4. Vanguard Scottsdale FDS5.9%
  5. iShares Core MSCI Emerging Markets ETF0.6%
  6. Other 1 position0.3%

Biggest buys

New and added positions, by estimated amount bought

  1. SPYSPDR S&P 500 ETF Trust
    +$100.2MAddedHistory

Largest weight increases

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

  1. SPYSPDR S&P 500 ETF Trust
    +28.55 pp28.1% → 56.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. TNLTravel & Leisure Co.
    −$75.6MSold outHistory
  2. CMCSAComcast Corp
    −$5.78MSold outHistory
  3. TDGTransDigm Group INC
    −$4.94MSold outHistory
  4. HGVHilton Grand Vacations Inc.
    −$4.92MSold outHistory
  5. ZZillow Group, Inc.
    −$4.44MSold outHistory

Largest weight decreases

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

  1. TNLTravel & Leisure Co.
    −22.41 pp22.4% → 0.0%History
  2. CMCSAComcast Corp
    −1.71 pp1.7% → 0.0%History
  3. TDGTransDigm Group INC
    −1.46 pp1.5% → 0.0%History
  4. HGVHilton Grand Vacations Inc.
    −1.46 pp1.5% → 0.0%History
  5. ZZillow Group, Inc.
    −1.32 pp1.3% → 0.0%History

Metrics

13F metrics for Q3 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$353.3M
+$15.9M (+4.7%) vs. prior quarter
Positions
6
−6 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
28.3%
Q3 2024, one quarter
Average holding period
14.3 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

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

Peak $621.2M (Q4 2021)

Q1 2021: $520.8MQ2 2021: $569.1MQ3 2021: $585.6MQ4 2021: $621.2MQ1 2022: $599.3MQ2 2022: $495.9MQ3 2022: $368.6MQ4 2022: $498.2MQ1 2023: $552.3MQ2 2023: $564.0MQ3 2023: $490.7MQ4 2023: $548.8MQ1 2024: $566.3MQ2 2024: $337.4MQ3 2024: $353.3M
Q1 2021Q3 2024
13F filings of Minot Capital, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2024Nov 13, 20246$353.3MSPYiShares TriShares MSCI Eafe ETFvs. Q2 2024SEC
Q2 2024Aug 12, 202412$337.4MiShares TrSPYTNLvs. Q1 2024SEC
Q1 2024Aug 12, 2024Amended12$566.3MSPYiShares TrTNLvs. Q4 2023SEC
Q4 2023Jan 24, 202412$548.8MSPYiShares TrTNLvs. Q3 2023SEC
Q3 2023Nov 13, 202312$490.7MSPYiShares TrTNLvs. Q2 2023SEC
Q2 2023Aug 8, 202319$564.0MSPYiShares TrTNLvs. Q1 2023SEC
Q1 2023May 15, 202321$552.3MSPYiShares TrTNLvs. Q4 2022SEC
Q4 2022Feb 13, 202320$498.2MSPYiShares TrTNLvs. Q3 2022SEC
Q3 2022Nov 1, 202219$368.6MTNLSPYiShares Trvs. Q2 2022SEC
Q2 2022Aug 11, 202219$495.9MSPYiShares TrTNLvs. Q1 2022SEC
Q1 2022May 16, 202218$599.3MSPYiShares TrTNLvs. Q4 2021SEC
Q4 2021May 10, 2022Amended18$621.2MSPYiShares TrTNLvs. Q3 2021SEC
Q3 2021Nov 5, 202117$585.6MSPYiShares TrTNLvs. Q2 2021SEC
Q2 2021Aug 10, 202116$569.1MiShares TrTNLSPYvs. Q1 2021SEC
Q1 2021May 10, 202116$520.8MiShares TrSPYTNL–SEC