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Livermore
Livermore
ZHEN

Cardinal Point Wealth Management LLC

SEC CIK
0001869778
Latest filing
Nov 5, 2021

The latest 13F from Cardinal Point Wealth Management LLC covers Q3 2021 (filed Nov 5, 2021): 42 long positions worth $212.7M. The top 10 holdings make up 88.1% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 28.6%. Livermore has 3 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2021

Share counts compared with Q2 2021: 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
6
Est. +$1.50M
Added
12
Est. +$4.39M
Reduced
11
Est. −$2.73M
Sold out
5
Est. −$8.19M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    28.6%$60.8M
  2. PIMCO Active Bond Exchange-Traded Fund72201R775
    18.0%$38.3M
  3. iShares MSCI USA Min Vol Factor ETF46429B697
    6.7%$14.3M
  4. Vanguard Ftse All-World Ex-US Index Fund922042775
    6.5%$13.8M
  5. Ssga Active ETF Tr78467V848
    5.0%$10.6M

Share of portfolio

Top 5 holdings and the other 37 positions, by share of portfolio value

  1. Vanguard Morningstar Total Stock Market ETF28.6%
  2. PIMCO Active Bond Exchange-Traded Fund18.0%
  3. iShares MSCI USA Min Vol Factor ETF6.7%
  4. Vanguard Ftse All-World Ex-US Index Fund6.5%
  5. Ssga Active ETF Tr5.0%
  6. Other 37 positions35.2%

Biggest buys

New and added positions, by estimated amount bought

  1. PIMCO Active Bond Exchange-Traded Fund72201R775
    +$1.58MAdded
  2. Vanguard Ftse All-World Ex-US Index Fund922042775
    +$816.7KAdded
  3. Vanguard Morningstar Total Stock Market ETF922908769
    +$422.6KAdded
  4. WisdomTree Tr97717W125
    +$406.0KNew
  5. Ssga Active ETF Tr78467V848
    +$360.0KAdded

Largest weight increases

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

  1. PIMCO Active Bond Exchange-Traded Fund72201R775
    +1.36 pp16.6% → 18.0%
  2. Vanguard Morningstar Total Stock Market ETF922908769
    +1.21 pp27.4% → 28.6%
  3. Vanguard Ftse All-World Ex-US Index Fund922042775
    +0.39 pp6.1% → 6.5%
  4. Ssga Active ETF Tr78467V848
    +0.35 pp4.6% → 5.0%
  5. IAUiShares Gold Trust
    +0.25 pp4.7% → 5.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ABCLAbCellera Biologics Inc.
    −$6.82MSold outHistory
  2. ARK Innovation ETF00214Q104
    −$1.78MReduced
  3. iShares Tr464289875
    −$624.0KSold out
  4. CELLBruker Cellular Analysis, Inc.
    −$488.0KSold outHistory
  5. First Tr Exch Traded FD III33739P103
    −$285.1KReduced

Largest weight decreases

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

  1. ABCLAbCellera Biologics Inc.
    −3.08 pp3.1% → 0.0%History
  2. ARK Innovation ETF00214Q104
    −1.63 pp6.5% → 4.9%
  3. iShares Tr464289875
    −0.28 pp0.3% → 0.0%
  4. CELLBruker Cellular Analysis, Inc.
    −0.22 pp0.2% → 0.0%History
  5. First Tr Exch Traded FD III33739P103
    −0.12 pp0.4% → 0.3%

Metrics

13F metrics for Q3 2021, computed only from the numbers in the filings. Definitions below.

Portfolio value
$212.7M
−$8.64M (−3.9%) vs. prior quarter
Positions
42
+1 vs. prior quarter
Top 10 concentration
88.1%
Top 10 as share of value
Turnover
2.7%
Q3 2021, 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

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

Peak $221.4M (Q2 2021)

Q1 2021: $198.5MQ2 2021: $221.4MQ3 2021: $212.7M
Q1 2021Q3 2021
13F filings of Cardinal Point Wealth Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2021Nov 5, 202142$212.7MVanguard Morningstar Total Stock Market ETFPIMCO Active Bond Exchange-Traded FundiShares MSCI USA Min Vol Factor ETFvs. Q2 2021SEC
Q2 2021Aug 4, 202141$221.4MVanguard Morningstar Total Stock Market ETFPIMCO Active Bond Exchange-Traded FundARK Innovation ETFvs. Q1 2021SEC
Q1 2021Jul 2, 202138$198.5MVanguard Morningstar Total Stock Market ETFPIMCO Active Bond Exchange-Traded FundARK Innovation ETF–SEC