KA
Kaizen Advisory, LLC Historical SEC 13F Holdings & Archive (Q4 2018)
Kaizen Advisory, LLCCIK: 0001669336
Diversified strategyContrarian
Total reported value
$144.0M
Reporting period: 2018-12-31 · Number of holdings: 703
Kaizen Advisory, LLC disclosed 703 holdings in its latest 13F filing for the period ending 2018-12-31, with total reported value of $144.0M and a quarterly turnover rate of 32.9%.
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Personality snowflake
- Concentration
- 8.6
- Portfolio Stability
- 32.9
- Momentum
- 30.79
- Sector conviction
- 45.85
- Diversification
- 100
- Sizing Uniformity
- 66.42
Kaizen Advisory, LLC's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 47 equally-sized positions, well below its 703 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.36), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 31% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim SPY
-25.4% -$10.7M
Trim NVDA
-11.4% -$937.0K
Trim MTDR
-16.4% -$674.0K
Trim NKTREUR
-15.8% -$586.0K
Trim PATK
-15.9% -$571.0K
Trim AAPL
-2.9% -$1.2M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 703 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 13.24% | -2.28% | -25.44% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 1.76% | -0.19% | -2.92% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 1.46% | — | +10.88% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.12% | +0.10% | +9.30% | |
| 5 | MA | Mastercard Inc - A | Stock-Financials | 0.87% | +0.03% | -9.17% | |
| 6 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.86% | — | -7.57% | |
| 7 | ADBE | Adobe Inc | Stock-Tech | 0.76% | — | -10.29% | |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.75% | — | +12.26% | |
| 9 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.71% | — | -12.41% | |
| 10 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.71% | — | -10.03% | |
| 11 | TXN | Texas Instruments Inc | Stock-Tech | 0.69% | — | -10.92% | |
| 12 | FHI | Federated Hermes Inc | Stock-Financials | 0.69% | — | -16.20% | |
| 13 | ✓ | Nutri Sys Inc New Com | Stock-Other | 0.67% | — | -15.53% | |
| 14 | INTU | Intuit Inc | Stock-Tech | 0.67% | — | -12.20% | |
| 15 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.66% | — | +17.48% | |
| 16 | WM | Waste Management Inc | Stock-Industrials | 0.65% | — | -13.73% | |
| 17 | AFL | Aflac Inc | Stock-Financials | 0.65% | — | -14.12% | |
| 18 | TSCO | Tractor Supply Company | Stock-Consumer Disc | 0.64% | — | -15.25% | |
| 19 | WDFC | Wd-40 Co | Stock-Materials | 0.63% | — | -16.38% | |
| 20 | VEEV | Veeva Systems Inc-class A | Stock-Healthcare | 0.63% | -0.06% | -16.25% | |
| 21 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.61% | — | +8.07% | |
| 22 | WIREEUR | Encore Wire CORP | Stock-Other | 0.60% | — | -16.20% | |
| 23 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.60% | — | +9.52% | |
| 24 | MMS | Maximus Inc | Stock-Industrials | 0.59% | — | -16.18% | |
| 25 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.59% | — | +14.66% | |
| 26 | TCP | Tc Pipelines LP | Stock-Other | 0.59% | — | -15.85% | |
| 27 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.59% | — | +9.30% | |
| 28 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.59% | — | -13.40% | |
| 29 | PNC | Pnc Financial Services Group | Stock-Financials | 0.58% | — | -12.59% | |
| 30 | YUMC | Yum China Holdings Inc | Stock-Consumer Disc | 0.58% | — | -15.77% | |
| 31 | PAYX | Paychex Inc | Stock-Tech | 0.58% | — | -14.39% | |
| 32 | IPG | Interpublic Group Of Cos Inc | Stock-Other | 0.56% | — | -15.53% | |
| 33 | HEI-A | Heico Corp-class A | Stock-Other | 0.56% | -0.04% | -16.27% | |
| 34 | MASI* | Masimo CORP | Stock-Other | 0.56% | — | -16.23% | |
| 35 | NVR | Nvr Inc | Stock-Consumer Disc | 0.56% | — | -15.38% | |
| 36 | FAST | Fastenal Co | Stock-Industrials | 0.55% | — | -15.25% | |
| 37 | JKHY | Jack Henry & Associates Inc | Stock-Tech | 0.55% | -0.04% | -12.87% | |
| 38 | FMC | Fmc CORP | Stock-Materials | 0.54% | — | -15.05% | |
| 39 | FTV | Fortive CORP | Stock-Tech | 0.54% | -0.05% | -14.51% | |
| 40 | GNRC | Generac Holdings Inc | Stock-Industrials | 0.54% | — | -16.11% | |
| 41 | BAH | Booz Allen Hamilton Holdings | Stock-Industrials | 0.54% | — | -16.14% | |
| 42 | ZBH | Zimmer Biomet Holdings Inc | Stock-Healthcare | 0.54% | -0.06% | -14.76% | |
| 43 | XOM | Exxon Mobil CORP | Stock-Energy | 0.54% | — | +14.50% | |
| 44 | TSS | Total System Services Inc | Stock-Other | 0.53% | — | -15.32% | |
| 45 | WBC1EUR | Wabco Holdings Inc | Stock-Other | 0.52% | — | -16.39% | |
| 46 | FWRDUSD | Forward Air CORP | Stock-Other | 0.52% | -0.08% | -16.19% | |
| 47 | SCHN1EUR | Schnitzer Steel Inds Inc-a | Stock-Other | 0.51% | -0.06% | -15.85% | |
| 48 | NBTB | N B T Bancorp Inc | Stock-Other | 0.51% | — | -16.17% | |
| 49 | ✓ | Athenahealth Inc | Stock-Other | 0.51% | — | -16.45% | |
| 50 | HXL | Hexcel CORP | Stock-Industrials | 0.51% | — | -15.78% |
1–50 of 200
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Kaizen Advisory, LLC's most significant position changes for 2018-12-31: Sold out: Energen CORP; Sold out: Money Market Fiduciary; New buy: Diamondback Energy Inc (FANG); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -25.44%; Trim: Nvidia CORP (NVDA) — shares -11.43%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | +0.1% | +9.30% | Add |
| 2 | MA | Mastercard Inc - A | 0% | -9.17% | Trim |
| 3 | ADBE | Adobe Inc | — | -10.29% | Trim |
| 4 | JKHY | Jack Henry & Associates Inc | 0% | -12.87% | Trim |
| 5 | HEI-A | Heico Corp-class A | 0% | -16.27% | Trim |
| 6 | FTV | Fortive CORP | -0.1% | -14.51% | Trim |
| 7 | VEEV | Veeva Systems Inc-class A | -0.1% | -16.25% | Trim |
| 8 | ZBH | Zimmer Biomet Holdings Inc | -0.1% | -14.76% | Trim |
| 9 | SCHN1EUR | Schnitzer Steel Inds Inc-a | -0.1% | -15.85% | Trim |
| 10 | NMIH | Nmi Holdings Inc | -0.1% | -16.17% | Trim |
| 11 | FIX | Comfort Systems USA Inc | -0.1% | -16.06% | Trim |
| 12 | HWAYEUR | Tivity Health Inc | -0.1% | -16.19% | Trim |
| 13 | VSMEUR | Versum Materials Inc | -0.1% | -16.24% | Trim |
| 14 | CMA | Comerica Inc | -0.1% | -15.31% | Trim |
| 15 | FWRDUSD | Forward Air CORP | -0.1% | -16.19% | Trim |
| 16 | PKG | Packaging CORP Of America | -0.1% | -15.90% | Trim |
| 17 | BOKF | Bok Financial Corporation | -0.1% | -16.24% | Trim |
| 18 | KEY | Keycorp | -0.1% | -14.98% | Trim |
| 19 | SNDR | Schneider National Inc-cl B | -0.1% | -16.19% | Trim |
| 20 | ASB | Associated Banc-corp | -0.1% | -16.12% | Trim |
| 21 | RNST | Renasant CORP | -0.1% | -16.13% | Trim |
| 22 | HII | Huntington Ingalls Industrie | -0.1% | -15.81% | Trim |
| 23 | FCX | Freeport-mcmoran Inc | -0.1% | -14.88% | Trim |
| 24 | ✓ | Laboratory Corp. of America | -0.1% | -15.26% | Trim |
| 25 | GWB | Great Western Bancorp Inc | -0.1% | -16.26% | Trim |
| 26 | TSCUSD | Tristate Capital Hldgs Inc | -0.1% | -16.19% | Trim |
| 27 | CC | Chemours Co/the | -0.1% | -15.99% | Trim |
| 28 | SYXUSD | Systemax Inc | -0.1% | -17.44% | Trim |
| 29 | APAM | Artisan Partners Asset Ma -a | -0.1% | -15.82% | Trim |
| 30 | DLX | Deluxe CORP | -0.1% | -16.32% | Trim |
| 31 | CXOEUR | Concho Resources Inc | -0.1% | -13.32% | Trim |
| 32 | GBX | Greenbrier Companies Inc | -0.1% | -16.27% | Trim |
| 33 | STLD | Steel Dynamics Inc | -0.1% | -16.28% | Trim |
| 34 | CADEEUR | Cadence Bancorp | -0.1% | -16.52% | Trim |
| 35 | VLO | Valero Energy CORP | -0.2% | -13.20% | Trim |
| 36 | BFH | Bread Financial Holdings Inc | -0.2% | -15.88% | Trim |
| 37 | SUPN | Supernus Pharmaceuticals Inc | -0.2% | -16.61% | Trim |
| 38 | DCH | Dauch Corporation | -0.2% | -16.80% | Trim |
| 39 | ✓ | Bank Of Nt Butterfield&son L | -0.2% | -16.26% | Trim |
| 40 | LMAT | Lemaitre Vascular Inc | -0.2% | -16.01% | Trim |
| 41 | AAPL | Apple Inc | -0.2% | -2.92% | Trim |
| 42 | LBRT | Liberty Energy Inc | -0.2% | -16.67% | Trim |
| 43 | NKTREUR | Nektar Therapeutics | -0.2% | -15.84% | Trim |
| 44 | PATK | Patrick Industries Inc | -0.2% | -15.90% | Trim |
| 45 | MTDR | Matador Resources Co | -0.3% | -16.43% | Trim |
| 46 | NVDA | Nvidia CORP | -0.4% | -11.43% | Trim |
| 47 | SPY | Ss Spdr S&p 500 ETF Trust-us | -2.3% | -25.44% | Trim |
| 48 | ✓ | Energen CORP | — | EXIT | Sold out |
| 49 | ✓ | Money Market Fiduciary | — | EXIT | Sold out |
| 50 | FANG | Diamondback Energy Inc | — | NEW | New buy |
Filing History
FAQ
What is Kaizen Advisory, LLC and what type of investor is it?
Kaizen Advisory, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2018-12-31), the firm manages a tracked equity portfolio valued at approximately $144.0M, spread across 703 disclosed positions.
What are Kaizen Advisory, LLC's largest equity positions?
Based on the latest 13F filing, Kaizen Advisory, LLC's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $19.1M (13.2%)
2. Apple Inc (AAPL) — $2.5M (1.8%)
3. Microsoft CORP (MSFT) — $2.1M (1.5%)
4. Amazon.com Inc (AMZN) — $1.6M (1.1%)
5. Mastercard Inc - A (MA) — $1.2M (0.9%)
What changes did Kaizen Advisory, LLC make in its most recent portfolio filing?
In the latest reported quarter, Kaizen Advisory, LLC made 50 notable position adjustments: 1 new positions were initiated, 1 existing holdings were added to, 46 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Energen CORP; Sold out: Money Market Fiduciary; New buy: Diamondback Energy Inc (FANG); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -25.44%; Trim: Nvidia CORP (NVDA) — shares -11.43%
What sectors does Kaizen Advisory, LLC focus on?
Kaizen Advisory, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 26.0%
• Financials: 15.4%
• Health Care: 14.7%
• Communication Services: 13.7%
• Consumer Discretionary: 10.5%
• Consumer Staples: 7.8%
Investment Profile
Kaizen Advisory, LLC's portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 33 over the past 4 quarters — a shift toward more active trading.
It has added to its PFE position over the past two quarters (+$201.0K, now $703.0K), while trimming ABMDEUR over the same stretch (-$1.7M, still holding $36.0K).
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