CIK: 0001589661
Total reported value
$213.3M
Reporting period: 2018-09-30 · Number of holdings: 103
Lehman Financial Resources, Inc. disclosed 103 holdings in its latest 13F filing for the period ending 2018-09-30, with total reported value of $213.3M and a quarterly turnover rate of 13.4%.
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Lehman Financial Resources, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.076 — mathematically equivalent to about 13 equally-sized positions, well below its 103 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 2.63), 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 30% 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.
Add IJR
+577.7% $3.6M
Trim NEE
+2.4% $1.3M
Trim OPK
-77.2% -$939.0K
Add PFE
-1.6% $1.4M
Add BRK-B
+0.2% $1.3M
Trim GM
0.0% -$371.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NEE | Nextera Energy INC | Stock-Utilities | 22.66% | -1.04% | +2.41% | |
| 2 | XIFR | Xplr Infrastructure LP | Stock-Utilities | 10.24% | -0.11% | +2.27% | |
| 3 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 4.66% | +0.30% | +0.22% | |
| 4 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 4.47% | -0.01% | — | |
| 5 | PFE | Pfizer INC | Stock-Healthcare | 4.08% | +0.41% | -1.64% | |
| 6 | BAC | Bank Of America CORP | Stock-Financials | 3.98% | -0.20% | -2.04% | |
| 7 | KBE | Ss Spdr S&p Bank ETF | ETF-Other | 2.75% | — | -0.16% | |
| 8 | CSCO | Cisco Systems INC | Stock-Tech | 2.74% | +0.18% | +1.76% | |
| 9 | BP | Bp Plc-spons Adr | Stock-Energy | 2.72% | — | -0.23% | |
| 10 | VT | Vanguard Tot World Stk ETF | ETF-Other | 2.61% | -0.10% | — | |
| 11 | WEP | Magellan Midstream Partners | Stock-Other | 2.02% | — | -1.09% | |
| 12 | CVX | Chevron CORP | Stock-Energy | 1.98% | — | +2.00% | |
| 13 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.96% | +1.66% | +577.68% | |
| 14 | BTZ | Blackrock Credit Allocation | Stock-Other | 1.77% | — | +0.01% | |
| 15 | UPS | United Parcel Service-cl B | Stock-Industrials | 1.72% | +0.06% | +1.29% | |
| 16 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.61% | +0.17% | +2.49% | |
| 17 | O | Realty Income CORP | Stock-Real Estate | 1.50% | — | -3.77% | |
| 18 | BTT | Blackrock 2030 Muni Trgt Trm | Stock-Other | 1.40% | — | — | |
| 19 | TOTL | Ss Doubleline Tr Tact ETF | ETF-Other | 1.33% | — | — | |
| 20 | EPD | Enterprise Products Partners | Stock-Energy | 1.22% | — | -1.95% | |
| 21 | 1JFD | Pimco Dynamic Credit And Mor | Stock-Other | 1.13% | — | -0.98% | |
| 22 | GM | General Motors Co | Stock-Consumer Disc | 1.02% | -0.26% | — | |
| 23 | AEP | American Electric Power Company, Inc. | Stock-Utilities | 0.89% | -0.25% | +1.24% | |
| 24 | BKK | Blackrock Muni 2020 Term Tr | Stock-Other | 0.89% | — | — | |
| 25 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.79% | +0.02% | +0.70% | |
| 26 | HDV | Ishares Core High Dividend E | ETF-Other | 0.78% | — | -2.28% | |
| 27 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.75% | +0.06% | +2.92% | |
| 28 | AAPL | Apple INC | Stock-Tech | 0.73% | +0.25% | +34.09% | |
| 29 | IBB | Ishares Biotechnology ETF | ETF-Tech | 0.68% | +0.04% | +1.52% | |
| 30 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.61% | — | -2.74% | |
| 31 | VDE | Vanguard Energy ETF | ETF-Other | 0.60% | — | — | |
| 32 | SRPT | Sarepta Therapeutics INC | Stock-Healthcare | 0.49% | +0.06% | — | |
| 33 | XOM | Exxon Mobil CORP | Stock-Energy | 0.45% | +0.08% | +28.63% | |
| 34 | DUK | Duke Energy CORP | Stock-Utilities | 0.45% | — | +1.71% | |
| 35 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.44% | -0.14% | -1.36% | |
| 36 | SLV | Ishares Silver Trust | ETF-Commodities | 0.42% | — | — | |
| 37 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.40% | +0.14% | +43.62% | |
| 38 | T | At&t INC | Stock-Comm Services | 0.36% | +0.05% | +20.96% | |
| 39 | EXC | Exelon CORP | Stock-Utilities | 0.35% | — | -1.43% | |
| 40 | HRSEUR | L3harris Technologies INC | Stock-Other | 0.35% | — | — | |
| 41 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.35% | — | +13.28% | |
| 42 | V | Visa Inc-class A Shares | Stock-Financials | 0.33% | — | +1.19% | |
| 43 | ✓ | Stock-Other | 0.31% | -0.14% | -1.23% | ||
| 44 | F | Ford Motor Co | Stock-Consumer Disc | 0.30% | -0.10% | -3.03% | |
| 45 | AABAUSD | Altaba INC | Stock-Other | 0.30% | +0.19% | +216.67% | |
| 46 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.30% | +0.30% | NEW | |
| 47 | GLD | Spdr Gold Shares | ETF-Commodities | 0.29% | — | — | |
| 48 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.29% | — | +1.05% | |
| 49 | VZ | Verizon Communications INC | Stock-Comm Services | 0.29% | +0.07% | +34.09% | |
| 50 | BA | Boeing Co/the | Stock-Industrials | 0.27% | +0.09% | +43.98% |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2018-09-30 | 103 | $213.3M | 13 | |
| 2018-06-30 | 87 | $198.4M | 8 | |
| 2018-03-31 | 81 | $195.2M | 14 | |
| 2017-12-31 | 80 | $192.5M | 19 | |
| 2017-09-30 | 68 | $196.6M | 11 | |
| 2017-06-30 | 62 | $177.7M | 11 | |
| 2017-03-31 | 62 | $180.8M | 19 | |
| 2016-12-31 | 60 | $175.5M | 15 | |
| 2016-09-30 | 56 | $173.0M | 30 | |
| 2016-06-30 | 60 | $199.2M | 13 | |
| 2016-03-31 | 61 | $187.4M | 14 | |
| 2015-12-31 | 59 | $185.6M | 27 | |
| 2015-09-30 | 493 | $196.4M | 21 | |
| 2015-06-30 | 460 | $206.5M | 10 | |
| 2015-03-31 | 442 | $217.6M | 16 | |
| 2014-12-31 | 422 | $203.7M | 27 | |
| 2014-09-30 | 435 | $191.6M | 32 | |
| 2014-06-30 | 409 | $209.9M | 16 | |
| 2014-03-31 | 413 | $193.4M | 21 | |
| 2013-12-31 | 401 | $161.8M | 20 | |
| 2013-09-30 | 391 | $156.0M | 21 | |
| 2013-06-30 | 365 | $147.8M | 17 |
Lehman Financial Resources, Inc.'s most significant position changes for 2018-09-30: Sold out: Hanesbrands INC (HN9); New buy: Vanguard Ftse All-world Ex-u (VEU); New buy: Intl Business Machines CORP (IBM); New buy: Fidelity Div ETF Rise Rates (FDRR); New buy: Oracle CORP (ORCL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IJR | Ishares Core S&p Small-cap E | +1.7% | +577.68% | Add |
| 2 | PFE | Pfizer INC | +0.4% | -1.64% | Trim |
| 3 | BRK-B | Berkshire Hathaway Inc-cl B | +0.3% | +0.22% | Add |
| 4 | AAPL | Apple INC | +0.3% | +34.09% | Add |
| 5 | AABAUSD | Altaba INC | +0.2% | +216.67% | Add |
| 6 | CSCO | Cisco Systems INC | +0.2% | +1.76% | Add |
| 7 | MRK | Merck & Co. INC. | +0.2% | +2.49% | Add |
| 8 | AMZN | Amazon.com INC | +0.1% | +43.62% | Add |
| 9 | BA | Boeing Co/the | +0.1% | +43.98% | Add |
| 10 | XOM | Exxon Mobil CORP | +0.1% | +28.63% | Add |
| 11 | MSFT | Microsoft CORP | +0.1% | +36.62% | Add |
| 12 | VZ | Verizon Communications INC | +0.1% | +34.09% | Add |
| 13 | UPS | United Parcel Service-cl B | +0.1% | +1.29% | Add |
| 14 | JNJ | Johnson & Johnson | +0.1% | +2.92% | Add |
| 15 | SRPT | Sarepta Therapeutics INC | +0.1% | — | Unchanged |
| 16 | DIS | Walt Disney Co/the | +0.1% | +30.41% | Add |
| 17 | COP | Conocophillips | +0.1% | +42.92% | Add |
| 18 | T | At&t INC | +0.1% | +20.96% | Add |
| 19 | IBB | Ishares Biotechnology ETF | 0% | +1.52% | Add |
| 20 | GILD | Gilead Sciences INC | 0% | +0.70% | Add |
| 21 | IVV | Ishares Core S&p 500 ETF | 0% | — | Unchanged |
| 22 | VT | Vanguard Tot World Stk ETF | -0.1% | — | Unchanged |
| 23 | F | Ford Motor Co | -0.1% | -3.03% | Trim |
| 24 | XIFR | Xplr Infrastructure LP | -0.1% | +2.27% | Add |
| 25 | ✓ | -0.1% | -1.23% | Trim | |
| 26 | GDX | Vaneck Gold Miners ETF | -0.1% | -1.36% | Trim |
| 27 | BAC | Bank Of America CORP | -0.2% | -2.04% | Trim |
| 28 | AEP | American Electric Power Company, Inc. | -0.3% | +1.24% | Add |
| 29 | GM | General Motors Co | -0.3% | — | Unchanged |
| 30 | OPK | Opko Health INC | -0.5% | -77.17% | Trim |
| 31 | NEE | Nextera Energy INC | -1% | +2.41% | Add |
| 32 | HN9 | Hanesbrands INC | — | EXIT | Sold out |
| 33 | VEU | Vanguard Ftse All-world Ex-u | — | NEW | New buy |
| 34 | IBM | Intl Business Machines CORP | — | NEW | New buy |
| 35 | FDRR | Fidelity Div ETF Rise Rates | — | NEW | New buy |
| 36 | ORCL | Oracle CORP | — | NEW | New buy |
| 37 | CAT | Caterpillar INC | — | NEW | New buy |
| 38 | TSM | Taiwan Semiconductor-sp Adr | — | EXIT | Sold out |
| 39 | AMGN | Amgen INC | — | NEW | New buy |
| 40 | GLW | Corning INC | — | NEW | New buy |
| 41 | AMD | Advanced Micro Devices | — | NEW | New buy |
| 42 | COST | Costco Wholesale CORP | — | NEW | New buy |
| 43 | GOOGL | Alphabet Inc-cl A | — | NEW | New buy |
| 44 | LVS | Las Vegas Sands CORP | — | NEW | New buy |
| 45 | MCD | Mcdonald's CORP | — | NEW | New buy |
| 46 | WASH | Washington Trust Bancorp | — | NEW | New buy |
| 47 | USB | US Bancorp | — | NEW | New buy |
| 48 | PEP | Pepsico INC | — | NEW | New buy |
| 49 | JPM | Jpmorgan Chase & Co | — | NEW | New buy |
| 50 | LRGF | Ishares US Equity Factor ETF | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-15 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-25 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-06 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-06 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-31 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-11 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-04 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-17 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-10 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-31 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-30 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-04-30 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-02-03 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-08 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-11 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-12-18 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-12-18 | 13F-HR | View on EDGAR |
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