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Livermore
Livermore
ZHEN

SWM Advisors

SEC CIK
0001874081
Latest filing
Oct 12, 2022

The latest 13F from SWM Advisors covers Q3 2022 (filed Oct 12, 2022): 24 long positions worth $106.1M. The top 10 holdings make up 96.5% of the portfolio, and the largest is Vanguard S&P 500 ETF at 39.9%. Livermore has 5 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q3 2022

Share counts compared with Q2 2022: 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. +$913.0K
Added
8
Est. +$2.93M
Reduced
2
Est. −$4.53K
Sold out
5
Est. −$2.23M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    39.9%$42.4M
  2. Vanguard Ftse Developed Markets ETF921943858
    14.4%$15.3M
  3. Vanguard Index FDS922908652
    12.1%$12.8M
  4. iShares Tr46429B655
    6.7%$7.09M
  5. iShares Tr46434V878
    6.3%$6.66M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard S&P 500 ETF922908363
    +$969.8KAdded
  2. Vanguard Index FDS922908652
    +$672.1KAdded
  3. Vanguard Ftse Developed Markets ETF921943858
    +$472.3KAdded
  4. iShares Tr46429B655
    +$462.1KAdded
  5. iShares Ibonds Dec 2025 Term Corporate ETF46434VBD1
    +$233.0KNew

Largest weight increases

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

  1. iShares Tr46429B655
    +0.69 pp6.0% → 6.7%
  2. Vanguard Index FDS922908652
    +0.67 pp11.4% → 12.1%
  3. Vanguard Short-Term Bond ETF921937827
    +0.22 pp5.8% → 6.0%
  4. iShares Ibonds Dec 2025 Term Corporate ETF46434VBD1
    +0.22 pp0.0% → 0.2%
  5. Invesco QQQ Trust Series I46090E103
    +0.22 pp0.0% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Scottsdale FDS92206C409
    −$1.01MSold out
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    −$457.0KSold out
  3. VanEck ETF Trust92189F437
    −$341.0KSold out
  4. VanEck ETF Trust92189F429
    −$214.0KSold out
  5. Invesco Exch Traded FD Tr II46138E511
    −$210.0KSold out

Largest weight decreases

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

  1. Vanguard Scottsdale FDS92206C409
    −0.92 pp0.9% → 0.0%
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    −0.42 pp0.4% → 0.0%
  3. VanEck ETF Trust92189F437
    −0.31 pp0.3% → 0.0%
  4. VanEck ETF Trust92189F429
    −0.19 pp0.2% → 0.0%
  5. Invesco Exch Traded FD Tr II46138E511
    −0.19 pp0.2% → 0.0%

Metrics

13F metrics for Q3 2022, computed only from the numbers in the filings. Definitions below.

Portfolio value
$106.1M
−$3.65M (−3.3%) vs. prior quarter
Positions
24
−1 vs. prior quarter
Top 10 concentration
96.5%
Top 10 as share of value
Turnover
2.1%
Q3 2022, one quarter
Average holding period
3.8 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

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

Peak $127.4M (Q1 2022)

Q4 2021: $114.3MQ1 2022: $127.4MQ2 2022: $109.8MQ3 2022: $106.1M
Q4 2021Q3 2022
13F filings of SWM Advisors by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2022Oct 12, 202224$106.1MVanguard S&P 500 ETFVanguard Ftse Developed Markets ETFVanguard Index FDSvs. Q2 2022SEC
Q2 2022Jul 8, 202225$109.8MVanguard S&P 500 ETFVanguard Ftse Developed Markets ETFVanguard Index FDSvs. Q1 2022SEC
Q1 2022Apr 12, 202231$127.4MVanguard S&P 500 ETFVanguard Ftse Developed Markets ETFVanguard Index FDSvs. Q4 2021SEC
Q4 2021Feb 10, 2022Amended31$114.3MVanguard S&P 500 ETFVanguard Ftse Developed Markets ETFVanguard Index FDS–SEC