PM
Precept Management LLC Historical SEC 13F Holdings & Archive (Q3 2023)
Precept Management LLCCIK: 0001135631
Sector-focusedConcentrated strategyLong-term holder
Total reported value
$125.7M
Reporting period: 2023-09-30 · Number of holdings: 28
Precept Management LLC disclosed 28 holdings in its latest 13F filing for the period ending 2023-09-30, with total reported value of $125.7M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 89.12
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 48
- Sizing Uniformity
- 78.7
Precept Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.223 — mathematically equivalent to about 4 equally-sized positions, well below its 28 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 2.13), 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 21% 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.govNo holding changes this quarter
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 24 holdings (of 28 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 | 34.01% | — | +400.00% | |
| 2 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 28.22% | — | +241.38% | |
| 3 | AMD | Advanced Micro Devices | Stock-Tech | 13.91% | — | — | |
| 4 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 6.34% | — | — | |
| 5 | KWEB | Kranesh Csi China Internet | ETF-Emerging Markets | 4.35% | — | — | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.24% | — | — | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 2.36% | — | -76.50% | |
| 8 | MSOS | Advisorshares Pure US Cann | ETF-Other | 1.90% | — | — | |
| 9 | NVDA | Nvidia CORP | Stock-Tech | 1.04% | — | — | |
| 10 | RAMP | Liveramp Holdings Inc | Stock-Other | 0.57% | — | — | |
| 11 | PRO | Pros Holdings Inc | Stock-Other | 0.55% | — | — | |
| 12 | SNCREUR | Synchronoss Technologies Inc | Stock-Other | 0.51% | — | — | |
| 13 | APLD | Applied Digital CORP | Stock-Tech | 0.50% | — | +400.00% | |
| 14 | ACMR | Acm Research Inc-class A | Stock-Other | 0.43% | — | — | |
| 15 | CTGO | Contango Silver & Gold Inc | Stock-Other | 0.36% | — | — | |
| 16 | NVGS | Navigator Holdings Ltd. | Stock-Other | 0.35% | — | — | |
| 17 | VOXR | Vox Royalty CORP | Stock-Other | 0.33% | — | — | |
| 18 | SGML | Sigma Lithium CORP | Stock-Other | 0.26% | — | — | |
| 19 | BTMD | Biote CORP -a | Stock-Other | 0.20% | — | — | |
| 20 | GDYN | Grid Dynamics Holdings Inc | Stock-Other | 0.20% | — | — | |
| 21 | RILY | Brc Group Holdings Inc | Stock-Other | 0.16% | — | — | |
| 22 | EVLV | Evolv Technologies Holdings | Stock-Other | 0.10% | — | — | |
| 23 | ✓ | Stock-Other | 0.06% | — | — | ||
| 24 | ✓ | Stock-Other | 0.06% | — | — |
Portfolio Performance
Performance for Q3 2026
-4%
Performance Last 4 Quarters
+45.6%
- Stdev
- +24.1%
- Beta
- +1.56
- Alpha
- -2.3%
- Max Drawdown
- -11%
- Annualized Perf
- +29.8%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +3.14
- Stutzer
- +0.38
- Treynor
- +0.19
- Sterling
- +1.57
- Calmar
- +2.7
- Information Ratio
- +0.6
- Tracking Error
- +14.9%
- Stdev Down
- +9.2%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +75.8%
- Worst 12 Months
- -4.9%
- Efficiency Ratio
- +0.61
- Sharpe
- +1.21
- Stdev Sectors
- +34.6%
- Skewness
- +1.12
- Kurtosis
- +1.51
- Upside Potential
- +5.07
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2023 Q3 | 28 | $125.7M | 0 | ||
| 2023 Q2 | 27 | $73.7M | 0 | ||
| 2023 Q1 | 26 | $81.7M | 0 | ||
| 2022 Q4 | 14 | $33.6M | 0 | ||
| 2022 Q3 | 22 | $14.0M | 0 | ||
| 2022 Q2 | 24 | $44.6M | 0 | ||
| 2022 Q1 | 46 | $94.9M | 0 | ||
| 2021 Q4 | 55 | $254.0M | 0 | ||
| 2021 Q3 | 82 | $214.3M | 0 | ||
| 2021 Q2 | 72 | $238.1M | 76 | ||
| 2021 Q1 | 48 | $146.7M | 100 | ||
| 2020 Q4 | 52 | $246.7M | 92 | ||
| 2020 Q3 | 66 | $407.5M | 97 | ||
| 2020 Q2 | 89 | $522.8M | 100 | ||
| 2020 Q1 | 125 | $806.9M | 100 | ||
| 2019 Q4 | 64 | $207.5M | 76 | ||
| 2019 Q3 | 54 | $166.4M | 96 | ||
| 2019 Q2 | 70 | $318.9M | 97 | ||
| 2019 Q1 | 52 | $221.9M | 92 | ||
| 2018 Q4 | 37 | $256.3M | 100 | ||
| 2018 Q3 | 69 | $352.2M | 61 | ||
| 2018 Q2 | 77 | $333.8M | 95 | ||
| 2018 Q1 | 69 | $240.3M | 100 | ||
| 2017 Q4 | 60 | $167.7M | 91 | ||
| 2017 Q3 | 54 | $128.7M | 56 | ||
| 2017 Q2 | 69 | $163.0M | 94 | ||
| 2017 Q1 | 45 | $101.0M | 87 | ||
| 2016 Q4 | 49 | $134.8M | 0 |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
Filing History
FAQ
What is Precept Management LLC and what type of investor is it?
Precept Management 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 (2023-09-30), the firm manages a tracked equity portfolio valued at approximately $125.7M, spread across 28 disclosed positions.
What are Precept Management LLC's largest equity positions?
Based on the latest 13F filing, Precept Management LLC's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $42.7M (34.0%)
2. Invesco Qqq Trust Series 1 (QQQ) — $35.5M (28.2%)
3. Advanced Micro Devices (AMD) — $17.5M (13.9%)
4. Ishares Russell 2000 ETF (IWM) — $8.0M (6.3%)
5. Kranesh Csi China Internet (KWEB) — $5.5M (4.3%)
What changes did Precept Management LLC make in its most recent portfolio filing?
No notable portfolio changes were recorded for Precept Management LLC in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does Precept Management LLC focus on?
Precept Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 84.6%
• Consumer Discretionary: 15.4%
Investment Profile
Precept Management LLC returned an annualized 29.8% over the trailing 36 months — underperforming the S&P 500 by 2.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.56 (more volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 84.6% of the portfolio concentrated in Information Technology.
Its concentration score has risen from 52 to 89 over the past 4 quarters — a shift toward higher-conviction positions.
It has added to its QQQ position for two straight quarters, increasing it by $26.2M to reach $35.5M.
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