Choreo LLC Portfolio holdings
Choreo is a wealth management firm that grew out of the wealth arm of the accounting firm RSM and focuses on tax and financial planning for business owners, CPAs and individuals. Private equity firm Parthenon Capital agreed to buy RSM's wealth business and rename it Choreo, and the firm used the RSM US Wealth Management name until 2022; RSM said it wanted to focus on audit, tax and consulting. Private investment funds sponsored by Parthenon are its majority owner. Choreo has given investment advice since 2000, building portfolios from managers and funds chosen for each part of an asset allocation model that starts from global stock and US bond index weights. Its clients include high net worth individuals, family offices and retirement plans.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Morningstar Growth ETF
VUG
|
+$5.8M |
| 2 |
Vanguard FTSE Europe ETF
VGK
|
+$2.47M |
| 3 |
First Trust North American Energy Infrastructure Fund
EMLP
|
+$2.35M |
| 4 |
Vanguard Global ex-US Real Estate ETF
VNQI
|
+$2.25M |
| 5 |
Vanguard Morningstar Small-Cap Growth ETF
VBK
|
+$2.21M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.69M |
| 2 |
iShares Russell 1000 Growth ETF
IWF
|
+$1.64M |
| 3 |
PepsiCo
PEP
|
+$1.48M |
| 4 |
Vanguard Real Estate ETF
VNQ
|
+$920K |
| 5 |
Merck
MRK
|
+$631K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 76.44% |
| 2 | Financials | 5.01% |
| 3 | Technology | 3.97% |
| 4 | Consumer Discretionary | 2.67% |
| 5 | Consumer Staples | 2.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
iShares Russell 1000 Growth ETF
IWF
$118B
| $63.4M | 7.67% |
1,883,444
-49,904
| -3% | -$1.64M |
2014 Q1
15 quarters
|
|
|
2
Vanguard Morningstar Growth ETF
VUG
$219B
| $62M | 7.5% |
2,644,392
+252,582
| +11% | +$5.8M |
2014 Q1
15 quarters
|
|
3
iShares Russell 1000 Value ETF
IWD
$84.9B
| $45.2M | 5.47% |
363,805
+1,295
| +0.4% | +$157K |
2014 Q1
15 quarters
|
|
4
iShares Russell 1000 ETF
IWB
$47.9B
| $33.4M | 4.04% |
224,908
-197
| -0.1% | -$28.5K |
2014 Q1
15 quarters
|
|
|
5
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $29.7M | 3.59% |
110,677
-6,500
| -6% | -$1.69M |
2014 Q1
15 quarters
|
|
6
Vanguard FTSE Emerging Markets ETF
VWO
$119B
| $28.3M | 3.42% |
615,730
+42,342
| +7% | +$1.89M |
2014 Q1
15 quarters
|
|
|
7
Vanguard Morningstar Small-Cap Growth ETF
VBK
$22.3B
| $26.6M | 3.22% |
165,383
+14,045
| +9% | +$2.21M |
2014 Q1
15 quarters
|
|
|
8
Vanguard Real Estate ETF
VNQ
$38.6B
| $25.6M | 3.1% |
308,822
-10,973
| -3% | -$920K |
2014 Q1
15 quarters
|
|
9
Vanguard Morningstar Value ETF
VTV
$197B
| $22.5M | 2.73% |
211,970
+21,101
| +11% | +$2.18M |
2014 Q1
15 quarters
|
|
10
Vanguard FTSE Developed Markets ETF
VEA
$229B
| $22.1M | 2.67% |
492,302
+17,019
| +4% | +$752K |
2014 Q1
15 quarters
|
|
11
iShares Russell 2000 ETF
IWM
$76.4B
| $20.1M | 2.44% |
132,096
-1,459
| -1% | -$219K |
2014 Q1
15 quarters
|
|
12
iShares Russell 2000 Growth ETF
IWO
$13.9B
| $17.7M | 2.13% |
94,558
-2,434
| -3% | -$444K |
2014 Q1
15 quarters
|
|
13
iShares MSCI EAFE Small-Cap ETF
SCZ
$12.9B
| $17.3M | 2.1% |
268,875
-4,573
| -2% | -$288K |
2014 Q1
15 quarters
|
|
14
iShares S&P 500 Growth ETF
IVW
$73.3B
| $16M | 1.93% |
418,520
-5,040
| -1% | -$188K |
2014 Q1
15 quarters
|
|
15
iShares Russell 2000 Value ETF
IWN
$14B
| $15.4M | 1.86% |
122,508
-3,203
| -3% | -$400K |
2014 Q1
15 quarters
|
|
16
iShares Core S&P 500 ETF
IVV
$876B
| $14.8M | 1.79% |
55,191
-127
| -0.2% | -$33.3K |
2014 Q1
15 quarters
|
|
|
17
First Trust North American Energy Infrastructure Fund
EMLP
$4.23B
| $13.8M | 1.67% |
562,052
+95,629
| +21% | +$2.35M |
2014 Q2
14 quarters
|
|
18
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.5B
| $13M | 1.58% |
98,204
+15,111
| +18% | +$1.97M |
2014 Q1
15 quarters
|
|
19
iShares MSCI EAFE ETF
EFA
$77.3B
| $11.3M | 1.36% |
160,199
| – | – |
2014 Q1
15 quarters
|
|
20
Apple
AAPL
$5.18T
| $10.2M | 1.23% |
240,564
-4,056
| -2% | -$169K |
2014 Q1
15 quarters
|
|
21
Vanguard Dividend Appreciation ETF
VIG
$118B
| $9.9M | 1.2% |
97,225
+12,807
| +15% | +$1.26M |
2016 Q1
7 quarters
|
|
22
Vanguard S&P 500 ETF
VOO
$1.04T
| $9.6M | 1.16% |
39,081
+896
| +2% | +$214K |
2016 Q2
6 quarters
|
|
|
23
Vanguard Global ex-US Real Estate ETF
VNQI
$3.32B
| $9.22M | 1.11% |
152,381
+37,485
| +33% | +$2.25M |
2014 Q1
15 quarters
|
|
24
Home Depot
HD
$348B
| $9.22M | 1.11% |
48,628
+197
| +0.4% | +$34K |
2014 Q1
15 quarters
|
|
25
SEI Investments
SEIC
$12.9B
| $9.08M | 1.1% |
125,791
| – | – |
2014 Q1
15 quarters
|
|
Similar funds
Choreo LLC's Q4 2017 Portfolio in Review
As of Q4 2017, Choreo LLC held 298 positions worth $827M, up 8.5% from $762M the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Choreo LLC deployed $25.8M of net new capital in Q4 2017, opening 31 new positions and adding to 150 existing holdings. Its largest new stake was iShares Core US REIT ETF: 15,286 shares worth $758K.
By sector, the portfolio is most concentrated in Miscellaneous at 76% of assets, down from 77% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $1.69M trimmed.
- Choreo LLC's largest Q4 2017 buy was iShares Core US REIT ETF: 15,286 shares worth $758K.
- Choreo LLC added most to Vanguard Morningstar Growth ETF in Q4 2017, an estimated $5.8M increase.
- Choreo LLC's biggest Q4 2017 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.69M.
- Choreo LLC fully exited PepsiCo in Q4 2017, selling an estimated $1.48M.
- Choreo LLC's ten largest holdings make up 43% of its $827M portfolio in Q4 2017.
- Choreo LLC opened 31 new positions and closed 11 in Q4 2017.
- Choreo LLC's portfolio value rose 8.5% quarter-over-quarter to $827M.
Based on Choreo LLC's 13F filing for Q4 2017, filed 4 Jun 2020.