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Livermore
Livermore
ZHEN

Gray Wealth Management Inc.

SEC CIK
0001958397
Latest filing
Feb 10, 2025

The latest 13F from Gray Wealth Management Inc. covers Q4 2024 (filed Feb 10, 2025): 132 long positions worth $263.6M. The top 10 holdings make up 49.7% of the portfolio, and the largest is Vanguard Dividend Appreciation ETF at 11.0%. Livermore has 16 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2024

Share counts compared with Q3 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
2
Est. +$625.2K
Added
75
Est. +$11.9M
Reduced
38
Est. −$1.57M
Sold out
11
Est. −$2.52M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Dividend Appreciation ETF921908844
    11.0%$29.0M
  2. Vanguard Morningstar Growth ETF922908736
    8.7%$22.9M
  3. iShares Core S&P 500 ETF464287200
    7.0%$18.4M
  4. Vanguard Morningstar Small-Cap ETF922908751
    4.0%$10.5M
  5. AAPLApple Inc.
    3.9%$10.4MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Growth ETF922908736
    +$1.85MAdded
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$1.54MAdded
  3. Vanguard Dividend Appreciation ETF921908844
    +$1.27MAdded
  4. JPMorgan Ultra-Short Income ETF46641Q837
    +$1.07MAdded
  5. Vanguard Scottsdale FDS92206C409
    +$830.3KAdded

Largest weight increases

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

  1. Vanguard Morningstar Growth ETF922908736
    +0.91 pp7.8% → 8.7%
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +0.50 pp1.0% → 1.5%
  3. JPMorgan Ultra-Short Income ETF46641Q837
    +0.36 pp1.0% → 1.4%
  4. Vanguard Scottsdale FDS92206C409
    +0.21 pp1.9% → 2.1%
  5. GOOGLAlphabet Inc.
    +0.20 pp1.4% → 1.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab US Dividend Equity ETF808524797
    −$382.4KReducedConverted for a 3-for-1 split
  2. AMDAdvanced Micro Devices Inc
    −$301.9KSold outHistory
  3. JNJJohnson & Johnson
    −$285.3KReducedHistory
  4. MRKMerck & Co., Inc.
    −$266.7KSold outHistory
  5. CICigna Group
    −$242.2KSold outHistory

Largest weight decreases

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

  1. Vanguard Health Care ETF92204A504
    −0.37 pp2.5% → 2.2%
  2. JNJJohnson & Johnson
    −0.30 pp1.3% → 1.0%History
  3. Schwab US Dividend Equity ETF808524797
    −0.17 pp0.4% → 0.2%
  4. iShares Core S&P 500 ETF464287200
    −0.16 pp7.1% → 7.0%
  5. PGProcter & Gamble Co
    −0.14 pp2.0% → 1.8%History

Metrics

13F metrics for Q4 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$263.6M
+$10.3M (+4.1%) vs. prior quarter
Positions
132
−9 vs. prior quarter
Top 10 concentration
49.7%
Top 10 as share of value
Turnover
1.6%
Q4 2024, one quarter
Average holding period
15.2 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

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

Peak $263.6M (Q4 2024)

Q1 2021: $157.7MQ2 2021: $173.6MQ3 2021: $178.8MQ4 2021: $200.8MQ1 2022: $194.0MQ2 2022: $165.1MQ3 2022: $156.6MQ4 2022: $172.5MQ1 2023: $183.2MQ2 2023: $198.8MQ3 2023: $195.1MQ4 2023: $205.4MQ1 2024: $224.0MQ2 2024: $231.8MQ3 2024: $253.3MQ4 2024: $263.6M
Q1 2021Q4 2024
13F filings of Gray Wealth Management Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2024Feb 10, 2025132$263.6MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q3 2024SEC
Q3 2024Oct 23, 2024141$253.3MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q2 2024SEC
Q2 2024Aug 9, 2024133$231.8MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q1 2024SEC
Q1 2024May 2, 2024136$224.0MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q4 2023SEC
Q4 2023Jan 31, 2024129$205.4MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q3 2023SEC
Q3 2023Oct 27, 2023131$195.1MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q2 2023SEC
Q2 2023Aug 14, 2023132$198.8MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q1 2023SEC
Q1 2023Apr 11, 2023123$183.2MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q4 2022SEC
Q4 2022Feb 13, 2023116$172.5MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Value ETFvs. Q3 2022SEC
Q3 2022Jan 3, 2023109$156.6MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q2 2022SEC
Q2 2022Jan 3, 2023111$165.1MVanguard Dividend Appreciation ETFiShares Core S&P 500 ETFVanguard Morningstar Growth ETFvs. Q1 2022SEC
Q1 2022Jan 3, 2023126$194.0MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q4 2021SEC
Q4 2021Jan 3, 2023128$200.8MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q3 2021SEC
Q3 2021Jan 3, 2023120$178.8MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q2 2021SEC
Q2 2021Jan 3, 2023119$173.6MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETFvs. Q1 2021SEC
Q1 2021Jan 3, 2023108$157.7MVanguard Dividend Appreciation ETFVanguard Morningstar Growth ETFiShares Core S&P 500 ETF–SEC