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Livermore
Livermore
ZHEN

Ledge Wealth Management, Inc.

SEC CIK
0001927042
Latest filing
Jan 24, 2024

The latest 13F from Ledge Wealth Management, Inc. covers Q4 2023 (filed Jan 24, 2024): 62 long positions worth $257.2M. The top 10 holdings make up 60.8% of the portfolio, and the largest is Vanguard Morningstar Value ETF at 11.8%. Livermore has 8 filings on Form 13F from this institution, going back to Q1 2022.

What changed in Q4 2023

Share counts compared with Q3 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
6
Est. +$11.8M
Added
24
Est. +$16.0M
Reduced
27
Est. −$2.90M
Sold out
4
Est. −$10.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Value ETF922908744
    11.8%$30.2M
  2. iShares Core U.S. Aggregate Bond ETF464287226
    10.2%$26.1M
  3. Invesco Exchange Traded FD T46137V357
    9.6%$24.6M
  4. Vanguard Morningstar Growth ETF922908736
    7.2%$18.6M
  5. American Centy ETF Tr025072398
    5.6%$14.4M

Biggest buys

New and added positions, by estimated amount bought

  1. American Centy ETF Tr025072307
    +$10.7MNew
  2. iShares Core U.S. Aggregate Bond ETF464287226
    +$10.3MAdded
  3. SPDR Series Trust78464A201
    +$2.66MAdded
  4. HDHome Depot, Inc.
    +$724.3KAddedHistory
  5. Vanguard Morningstar Value ETF922908744
    +$415.3KAdded

Largest weight increases

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

  1. American Centy ETF Tr025072307
    +4.15 pp0.0% → 4.1%
  2. iShares Core U.S. Aggregate Bond ETF464287226
    +3.41 pp6.7% → 10.2%
  3. SPDR Series Trust78464A201
    +1.02 pp1.3% → 2.3%
  4. HDHome Depot, Inc.
    +0.28 pp0.8% → 1.1%History
  5. Vanguard Ftse Developed Markets ETF921943858
    +0.09 pp0.0% → 0.1%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Goldman Sachs ETF Tr381430529
    −$10.2MSold out
  2. AMZNAmazon Com Inc
    −$539.5KReducedHistory
  3. MSFTMicrosoft Corp
    −$417.4KReducedHistory
  4. AAPLApple Inc.
    −$252.8KReducedHistory
  5. TGTTarget Corp
    −$245.8KSold outHistory

Largest weight decreases

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

  1. Goldman Sachs ETF Tr381430529
    −4.58 pp4.6% → 0.0%
  2. Janus Detroit STR Tr47103U886
    −0.22 pp1.2% → 1.0%
  3. CVXChevron Corp
    −0.21 pp0.7% → 0.5%History
  4. iShares Tr464287341
    −0.20 pp1.1% → 0.9%
  5. Schwab US Dividend Equity ETF808524797
    −0.20 pp2.5% → 2.3%

Metrics

13F metrics for Q4 2023, computed only from the numbers in the filings. Definitions below.

Portfolio value
$257.2M
+$34.4M (+15.4%) vs. prior quarter
Positions
62
+2 vs. prior quarter
Top 10 concentration
60.8%
Top 10 as share of value
Turnover
5.7%
Q4 2023, one quarter
Average holding period
6.9 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 2022), so positions held before then are understated.

13F filings by quarter

8 quarters, going back to Q1 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $257.2M (Q4 2023)

Q1 2022: $160.8MQ2 2022: $162.7MQ3 2022: $163.3MQ4 2022: $219.1MQ1 2023: $210.9MQ2 2023: $209.3MQ3 2023: $222.8MQ4 2023: $257.2M
Q1 2022Q4 2023
13F filings of Ledge Wealth Management, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2023Jan 24, 202462$257.2MVanguard Morningstar Value ETFiShares Core U.S. Aggregate Bond ETFInvesco Exchange Traded FD Tvs. Q3 2023SEC
Q3 2023Oct 24, 202360$222.8MVanguard Morningstar Value ETFInvesco Exchange Traded FD TVanguard Morningstar Growth ETFvs. Q2 2023SEC
Q2 2023Jul 12, 202362$209.3MVanguard Morningstar Value ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Growth ETFvs. Q1 2023SEC
Q1 2023Apr 14, 202367$210.9MVanguard Morningstar Value ETFiShares Core U.S. Aggregate Bond ETFAmerican Centy ETF Trvs. Q4 2022SEC
Q4 2022Feb 3, 202373$219.1MGoldman Sachs ETF TrVanguard Morningstar Value ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2022SEC
Q3 2022Oct 18, 202265$163.3MGoldman Sachs ETF TrVanguard Morningstar Value ETFJanus Detroit STR Trvs. Q2 2022SEC
Q2 2022Jul 20, 202269$162.7MJanus Detroit STR TrVanguard Morningstar Value ETFWisdomTree Trvs. Q1 2022SEC
Q1 2022May 10, 202272$160.8MVanguard Morningstar Value ETFJanus Detroit STR TrSPDR Index Shs FDS–SEC