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Livermore
Livermore
ZHEN

Lane & Associates LLC

SEC CIK
0002018909
Latest filing
May 1, 2025

The latest 13F from Lane & Associates LLC covers Q1 2025 (filed May 1, 2025): 115 long positions worth $185.5M. The top 10 holdings make up 46.1% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 8.2%. Livermore has 10 filings on Form 13F from this institution, going back to Q4 2022.

What changed in Q1 2025

Share counts compared with Q4 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
3
Est. +$13.0M
Added
64
Est. +$9.70M
Reduced
44
Est. −$16.5M
Sold out
9
Est. −$4.47M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    8.2%$15.2M
  2. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    6.9%$12.7M
  3. Schwab U.S. Large-Cap ETF808524201
    6.2%$11.5M
  4. SPYSPDR S&P 500 ETF Trust
    6.0%$11.1MHistory
  5. iShares Tr464288885
    3.3%$6.04M

Biggest buys

New and added positions, by estimated amount bought

  1. Schwab U.S. Large-Cap ETF808524201
    +$11.5MNew
  2. iShares Core MSCI Eafe ETF46432F842
    +$3.30MAdded
  3. Schwab US Aggregate Bond ETF808524839
    +$1.25MNew
  4. Vanguard High Dividend Yield Index ETF921946406
    +$964.6KAdded
  5. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    +$819.9KAdded

Largest weight increases

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

  1. Schwab U.S. Large-Cap ETF808524201
    +6.20 pp0.0% → 6.2%
  2. iShares Core MSCI Eafe ETF46432F842
    +1.88 pp1.4% → 3.2%
  3. Schwab US Aggregate Bond ETF808524839
    +0.67 pp0.0% → 0.7%
  4. Vanguard High Dividend Yield Index ETF921946406
    +0.56 pp2.7% → 3.2%
  5. PGProcter & Gamble Co
    +0.40 pp1.2% → 1.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPYSPDR S&P 500 ETF Trust
    −$12.4MReducedHistory
  2. iShares Tr464288885
    −$1.58MReduced
  3. iShares Tr464287432
    −$1.08MSold out
  4. iShares Tr46434V407
    −$926.4KSold out
  5. iShares U.S. Treasury Bond ETF46429B267
    −$670.4KSold out

Largest weight decreases

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

  1. SPYSPDR S&P 500 ETF Trust
    −7.09 pp13.1% → 6.0%History
  2. iShares Tr464288885
    −0.75 pp4.0% → 3.3%
  3. iShares Tr464287432
    −0.56 pp0.6% → 0.0%
  4. iShares Tr46434V407
    −0.48 pp0.5% → 0.0%
  5. iShares Tr46435U713
    −0.35 pp0.5% → 0.2%

Metrics

13F metrics for Q1 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$185.5M
−$8.01M (−4.1%) vs. prior quarter
Positions
115
−6 vs. prior quarter
Top 10 concentration
46.1%
Top 10 as share of value
Turnover
11.1%
Q1 2025, one quarter
Average holding period
8.5 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 2022), so positions held before then are understated.

13F filings by quarter

10 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $193.5M (Q4 2024)

Q4 2022: $105.5MQ1 2023: $112.2MQ2 2023: $125.7MQ3 2023: $124.5MQ4 2023: $137.4MQ1 2024: $158.9MQ2 2024: $169.6MQ3 2024: $183.6MQ4 2024: $193.5MQ1 2025: $185.5M
Q4 2022Q1 2025
13F filings of Lane & Associates LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q1 2025May 1, 2025115$185.5MVanguard Morningstar Total Stock Market ETFState Street SPDR Portfolio S&P 500 Growth ETFSchwab U.S. Large-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 3, 2025121$193.5MSPYVanguard Morningstar Total Stock Market ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q3 2024SEC
Q3 2024Nov 12, 2024113$183.6MSPYVanguard Morningstar Total Stock Market ETFState Street SPDR Portfolio S&P 500 Growth ETFvs. Q2 2024SEC
Q2 2024Aug 7, 2024112$169.6MSPYVanguard Morningstar Total Stock Market ETFDimensional ETF Trustvs. Q1 2024SEC
Q1 2024Apr 12, 2024113$158.9MSPYVanguard Morningstar Total Stock Market ETFVanguard S&P 500 Value ETFvs. Q4 2023SEC
Q4 2023Apr 9, 2024102$137.4MSPYVanguard S&P 500 Value ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2023SEC
Q3 2023Apr 12, 2024105$124.5MSPYVanguard S&P 500 Value ETFSPDR Index Shs FDSvs. Q2 2023SEC
Q2 2023Apr 12, 2024101$125.7MSPYVanguard S&P 500 Value ETFSPDR Index Shs FDSvs. Q1 2023SEC
Q1 2023Apr 12, 202496$112.2MSPYVanguard S&P 500 Value ETFSPDR Index Shs FDSvs. Q4 2022SEC
Q4 2022Apr 12, 202492$105.5MSPYVanguard S&P 500 Value ETFSPDR Index Shs FDS–SEC