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Livermore
Livermore
ZHEN

Coulter & Justus Financial Services, LLC

SEC CIK
0001841767
Latest filing
May 3, 2024

The latest 13F from Coulter & Justus Financial Services, LLC covers Q1 2024 (filed May 3, 2024): 93 long positions worth $450.3M. The top 10 holdings make up 42.4% of the portfolio, and the largest is JPMorgan Chase & Co (JPM) at 5.6%. Livermore has 10 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q1 2024

Share counts compared with Q4 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
85
Est. +$422.4M
Added
3
Est. +$18.3M
Reduced
5
Est. −$24.1M
Sold out
34
Est. −$118.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. JPMJPMorgan Chase & Co
    5.6%$25.1MHistory
  2. GOOGAlphabet Inc.
    5.4%$24.5MHistory
  3. AXPAmerican Express Co
    5.0%$22.6MHistory
  4. SYKStryker Corp
    4.7%$21.3MHistory
  5. APHAmphenol Corp
    4.3%$19.2MHistory

Share of portfolio

Top 5 holdings and the other 88 positions, by share of portfolio value

  1. JPM5.6%
  2. GOOG5.4%
  3. AXP5.0%
  4. SYK4.7%
  5. APH4.3%
  6. Other 88 positions75.0%

Biggest buys

New and added positions, by estimated amount bought

  1. JPMJPMorgan Chase & Co
    +$25.1MNewHistory
  2. GOOGAlphabet Inc.
    +$24.5MNewHistory
  3. AXPAmerican Express Co
    +$22.6MNewHistory
  4. SYKStryker Corp
    +$21.3MNewHistory
  5. APHAmphenol Corp
    +$19.2MNewHistory

Largest weight increases

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

  1. JPMJPMorgan Chase & Co
    +5.56 pp0.0% → 5.6%History
  2. GOOGAlphabet Inc.
    +5.45 pp0.0% → 5.4%History
  3. AXPAmerican Express Co
    +5.03 pp0.0% → 5.0%History
  4. SYKStryker Corp
    +4.74 pp0.0% → 4.7%History
  5. APHAmphenol Corp
    +4.26 pp0.0% → 4.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BRK.BBerkshire Hathaway Inc
    −$19.4MReducedHistory
  2. Pacer US Cash Cows 100 ETF69374H881
    −$15.7MSold out
  3. iShares Tr46434V274
    −$14.2MSold out
  4. State Street SPDR Portfolio Short Term Corporate Bond ETF78464A474
    −$13.7MSold out
  5. iShares Tr46434V266
    −$13.5MSold out

Largest weight decreases

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

  1. BRK.BBerkshire Hathaway Inc
    −11.40 pp11.6% → 0.2%History
  2. Pacer US Cash Cows 100 ETF69374H881
    −10.66 pp10.7% → 0.0%
  3. iShares Tr46434V274
    −9.60 pp9.6% → 0.0%
  4. State Street SPDR Portfolio Short Term Corporate Bond ETF78464A474
    −9.26 pp9.3% → 0.0%
  5. iShares Tr46434V266
    −9.13 pp9.1% → 0.0%

Metrics

13F metrics for Q1 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$450.3M
+$302.7M (+205.2%) vs. prior quarter
Positions
93
+51 vs. prior quarter
Top 10 concentration
42.4%
Top 10 as share of value
Turnover
47.7%
Q1 2024, one quarter
Average holding period
1.4 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 (Q4 2021), so positions held before then are understated.

13F filings by quarter

10 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $450.3M (Q1 2024)

Q4 2021: $127.3MQ1 2022: $284.6MQ2 2022: $124.4MQ3 2022: $128.6MQ4 2022: $147.2MQ1 2023: $153.3MQ2 2023: $147.4MQ3 2023: $137.5MQ4 2023: $147.6MQ1 2024: $450.3M
Q4 2021Q1 2024
13F filings of Coulter & Justus Financial Services, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q1 2024May 3, 202493$450.3MJPMGOOGAXPvs. Q4 2023SEC
Q4 2023Feb 6, 202442$147.6MBRK.BPacer US Cash Cows 100 ETFiShares Trvs. Q3 2023SEC
Q3 2023Nov 3, 202341$137.5MBRK.BState Street SPDR Portfolio Short Term Corporate Bond ETFiShares Trvs. Q2 2023SEC
Q2 2023Jul 31, 202343$147.4MBRK.BState Street SPDR Portfolio Short Term Corporate Bond ETFiShares Trvs. Q1 2023SEC
Q1 2023May 5, 202349$153.3MState Street SPDR Portfolio Short Term Corporate Bond ETFSPDR Series TrustBRK.Bvs. Q4 2022SEC
Q4 2022Feb 10, 202349$147.2MState Street SPDR Portfolio Short Term Corporate Bond ETFBRK.BSPDR Series Trustvs. Q3 2022SEC
Q3 2022Nov 1, 202246$128.6MState Street SPDR Portfolio Short Term Corporate Bond ETFBRK.BBARvs. Q2 2022SEC
Q2 2022Jul 29, 202247$124.4MState Street SPDR Portfolio Short Term Corporate Bond ETFBRK.BBARvs. Q1 2022SEC
Q1 2022May 6, 202213$284.6MSchwab U.S. Broad Market ETFiShares Core U.S. Aggregate Bond ETFSchwab International Equity ETFvs. Q4 2021SEC
Q4 2021Feb 7, 202250$127.3MBRK.BState Street SPDR Portfolio Short Term Corporate Bond ETFBAR–SEC