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Livermore
Livermore
ZHEN

Bridge Advisory, LLC

SEC CIK
0001847956
Latest filing
Oct 1, 2024

The latest 13F from Bridge Advisory, LLC covers Q3 2024 (filed Oct 1, 2024): 99 long positions worth $210.2M. The top 10 holdings make up 44.7% of the portfolio, and the largest is VanEck ETF Trust at 6.4%. Livermore has 16 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
4
Est. +$2.13M
Added
41
Est. +$1.37M
Reduced
50
Est. −$5.33M
Sold out
2
Est. −$1.12M

Top 5 holdings

Share of this quarter's portfolio value

  1. VanEck ETF Trust92189H300
    6.4%$13.4M
  2. iShares Trust iShares 0-1 Year Treasury Bond ETF464288679
    6.3%$13.3M
  3. PHYSSprott Physical Gold Trust
    5.9%$12.4MHistory
  4. PSLVSprott Physical Silver Trust
    4.5%$9.44MHistory
  5. iShares Tr46436E718
    4.3%$8.95M

Share of portfolio

Top 5 holdings and the other 94 positions, by share of portfolio value

  1. VanEck ETF Trust6.4%
  2. iShares Trust iShares 0-1 Year Treasury Bond ETF6.3%
  3. PHYS5.9%
  4. PSLV4.5%
  5. iShares Tr4.3%
  6. Other 94 positions72.7%

Biggest buys

New and added positions, by estimated amount bought

  1. GLDSPDR Gold Trust
    +$1.52MNewHistory
  2. American Centy ETF Tr025072877
    +$234.9KAdded
  3. Schwab U.S. Large-Cap ETF808524201
    +$207.6KNew
  4. NEENextera Energy Inc
    +$200.6KNewHistory
  5. PGProcter & Gamble Co
    +$200.4KNewHistory

Largest weight increases

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

  1. GLDSPDR Gold Trust
    +0.72 pp0.0% → 0.7%History
  2. AAPLApple Inc.
    +0.29 pp3.6% → 3.9%History
  3. VanEck ETF Trust92189H300
    +0.20 pp6.2% → 6.4%
  4. Dimensional ETF Trust25434V104
    +0.17 pp3.8% → 3.9%
  5. EDDMorgan Stanley Emerging Markets Domestic Debt Fund, Inc.
    +0.14 pp1.5% → 1.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr46436E718
    −$1.74MReduced
  2. Northern LTS FD Tr III66538R540
    −$912.7KSold out
  3. WisdomTree Tr97717X867
    −$789.4KReduced
  4. iShares U S ETF Tr46431W838
    −$401.2KReduced
  5. Schwab U.S. Large-Cap Growth ETF808524300
    −$366.8KReduced

Largest weight decreases

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

  1. iShares Tr46436E718
    −1.01 pp5.3% → 4.3%
  2. Northern LTS FD Tr III66538R540
    −0.45 pp0.4% → 0.0%
  3. WisdomTree Tr97717X867
    −0.34 pp1.5% → 1.1%
  4. DBEInvesco DB Energy Fund
    −0.22 pp1.4% → 1.2%History
  5. iShares U S ETF Tr46431W838
    −0.20 pp0.3% → 0.1%

Metrics

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

Portfolio value
$210.2M
+$7.23M (+3.6%) vs. prior quarter
Positions
99
+2 vs. prior quarter
Top 10 concentration
44.7%
Top 10 as share of value
Turnover
1.7%
Q3 2024, one quarter
Average holding period
9.6 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 $285.1M (Q3 2023)

Q1 2021: $161.1MQ2 2021: $196.2MQ3 2021: $203.0MQ4 2021: $221.2MQ1 2022: $229.0MQ2 2022: $207.5MQ3 2022: $205.1MQ4 2022: $239.5MQ1 2023: $259.0MQ2 2023: $272.6MQ3 2023: $285.1MQ4 2023: $199.4MQ1 2024: $201.5MQ2 2024: $203.0MQ3 2024: $210.2M
Q1 2021Q3 2024
13F filings of Bridge Advisory, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2024Oct 1, 202499$210.2MVanEck ETF TrustiShares Trust iShares 0-1 Year Treasury Bond ETFPHYSvs. Q2 2024SEC
Q2 2024Jul 23, 202497$203.0MiShares Trust iShares 0-1 Year Treasury Bond ETFVanEck ETF TrustPHYSvs. Q1 2024SEC
Q1 2024Apr 16, 2024101$201.5MiShares Trust iShares 0-1 Year Treasury Bond ETFVanEck ETF TrustPHYSvs. Q4 2023SEC
Q4 2023Jan 17, 2024107$199.4MVanEck ETF TrustPHYSPSLVvs. Q3 2023SEC
Q3 2023Oct 20, 2023145$285.1MVanEck ETF TrustiShares Tips Bond ETFWisdomTree Trvs. Q2 2023SEC
Q2 2023Jul 17, 2023131$272.6MiShares Tips Bond ETFVanEck ETF TrustPHYSvs. Q1 2023SEC
Q1 2023Apr 14, 2023124$259.0MiShares Tips Bond ETFVanEck ETF TrustPHYSvs. Q4 2022SEC
Q4 2022Jan 17, 2023126$239.5MiShares Tips Bond ETFPHYSiShares Trvs. Q3 2022SEC
Q3 2022Oct 17, 2022117$205.1MiShares Tips Bond ETFiShares TrPHYSvs. Q2 2022SEC
Q2 2022Jul 13, 2022117$207.5MiShares Tips Bond ETFiShares TrSPDR Series Trustvs. Q1 2022SEC
Q1 2022Apr 18, 202295$229.0MiShares Tips Bond ETFiShares TrPHYSvs. Q4 2021SEC
Q4 2021Jan 19, 202297$221.2MiShares Tips Bond ETFiShares TriShares Trvs. Q3 2021SEC
Q3 2021Oct 29, 202184$203.0MiShares Tips Bond ETFiShares TriShares Trvs. Q2 2021SEC
Q2 2021Aug 30, 2021Amended87$196.2MiShares Tips Bond ETFiShares TriShares Trvs. Q1 2021SEC
Q1 2021May 6, 202174$161.1MiShares TriShares Tips Bond ETFiShares Tr–SEC