Kowal Investment Group, LLC
- SEC CIK
- 0001846786
- Latest filing
- Oct 16, 2024
The latest 13F from Kowal Investment Group, LLC covers Q3 2024 (filed Oct 16, 2024): 200 long positions worth $543.6M. The top 10 holdings make up 58.7% of the portfolio, and the largest is Fidelity Merrimack STR Tr at 17.9%. Livermore has 15 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.
- New
- 24
- Est. +$59.0M
- Added
- 95
- Est. +$17.7M
- Reduced
- 75
- Est. −$58.7M
- Sold out
- 5
- Est. −$1.88M
Top 5 holdings
Share of this quarter's portfolio value
- Fidelity Merrimack STR Tr31618830917.9%$97.5M
- J P Morgan Exchange Traded F46641Q3999.4%$51.3M
- First Tr Exchange-Traded FD3369171096.5%$35.6M
- First Trust Nasdaq-100 Technology Sector Index Fund3373451026.1%$33.4M
- Fidelity Covington Trust3160923525.0%$27.2M
Share of portfolio
Top 5 holdings and the other 195 positions, by share of portfolio value
- Fidelity Merrimack STR Tr17.9%
- J P Morgan Exchange Traded F9.4%
- First Tr Exchange-Traded FD6.5%
- First Trust Nasdaq-100 Technology Sector Index Fund6.1%
- Fidelity Covington Trust5.0%
- Other 195 positions54.9%
Biggest buys
New and added positions, by estimated amount bought
- J P Morgan Exchange Traded F46641Q399+$51.3MNew
- Zacks Trust98888G105+$5.23MAdded
- iShares Core MSCI Eafe ETF46432F842+$1.25MAdded
- Fidelity Comwlth Tr315912808+$1.00MNew
- iShares Core U.S. Aggregate Bond ETF464287226+$893.9KAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- J P Morgan Exchange Traded F46641Q399+9.44 pp0.0% → 9.4%
- Zacks Trust98888G105+0.93 pp1.8% → 2.8%
- iShares Core MSCI Eafe ETF46432F842+0.22 pp1.0% → 1.2%
- Fidelity Comwlth Tr315912808+0.18 pp0.0% → 0.2%
- Zacks Trust98888G204+0.15 pp0.6% → 0.8%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- First Tr Exchange-Traded FD33733E104−$52.3MReduced
- Fidelity Covington Trust316092352−$1.00MReduced
- SPYSPDR S&P 500 ETF Trust
- Fidelity Covington Trust316092824−$685.4KSold out
- iShares Tr464288414−$577.8KReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- First Tr Exchange-Traded FD33733E104−9.66 pp10.2% → 0.6%
- First Trust Nasdaq-100 Technology Sector Index Fund337345102−0.85 pp7.0% → 6.1%
- Fidelity Merrimack STR Tr316188309−0.78 pp18.7% → 17.9%
- Fidelity Covington Trust316092352−0.58 pp5.6% → 5.0%
- iShares Tr464288414−0.21 pp1.7% → 1.5%
Metrics
13F metrics for Q3 2024, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $543.6M
- +$42.5M (+8.5%) vs. prior quarter
- Positions
- 200
- +19 vs. prior quarter
- Top 10 concentration
- 58.7%
- Top 10 as share of value
- Turnover
- 11.6%
- Q3 2024, one quarter
- Average holding period
- 9.2 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 $543.6M (Q3 2024)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q3 2024 | Oct 16, 2024 | 200 | $543.6M | Fidelity Merrimack STR TrJ P Morgan Exchange Traded FFirst Tr Exchange-Traded FD | vs. Q2 2024 | SEC |
| Q2 2024 | Aug 13, 2024 | 181 | $501.1M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Trust Nasdaq-100 Technology Sector Index Fund | vs. Q1 2024 | SEC |
| Q1 2024 | Apr 18, 2024 | 178 | $462.7M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Tr Exchange-Traded FD | vs. Q4 2023 | SEC |
| Q4 2023 | Jan 22, 2024 | 161 | $428.5M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Tr Exchange-Traded FD | vs. Q3 2023 | SEC |
| Q3 2023 | Oct 25, 2023 | 152 | $370.5M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Tr Exchange-Traded FD | vs. Q2 2023 | SEC |
| Q2 2023 | Jul 18, 2023 | 158 | $373.9M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Tr Exchange-Traded FD | vs. Q1 2023 | SEC |
| Q1 2023 | Apr 21, 2023 | 154 | $352.8M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Tr Exchange-Traded FD | vs. Q4 2022 | SEC |
| Q4 2022 | Jan 25, 2023 | 154 | $335.0M | Fidelity Merrimack STR TrFirst Tr Exchange-Traded FDFirst Tr Exchange-Traded FD | vs. Q3 2022 | SEC |
| Q3 2022 | Nov 9, 2022 | 143 | $295.3M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | vs. Q2 2022 | SEC |
| Q2 2022 | Aug 15, 2022 | 139 | $305.3M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | vs. Q1 2022 | SEC |
| Q1 2022 | Apr 15, 2022 | 126 | $327.7M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | vs. Q4 2021 | SEC |
| Q4 2021 | Feb 11, 2022 | 114 | $336.8M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | vs. Q3 2021 | SEC |
| Q3 2021 | Nov 12, 2021 | 1,043 | $316.2M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | vs. Q2 2021 | SEC |
| Q2 2021 | Aug 12, 2021 | 103 | $277.7M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | vs. Q1 2021 | SEC |
| Q1 2021 | May 12, 2021 | 96 | $247.2M | First Tr Exchange-Traded FDFirst Tr Exchange-Traded FDFirst Tr Exchng Traded FD VI | – | SEC |