# LEVEL FOUR FINANCIAL, LLC

> Institutional holdings reported to the SEC as of Q3 2021 on Form 13F. CIK 857602. Source: https://holderbook.com/funds/857602-level-four-financial-llc/

- Reported value: $229.5M
- Positions: 294
- Weight of the ten largest: 23.2%
- Filed: 2021-10-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $13.3M | 94,187 | 5.8% | 4 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $6.1M | 21,550 | 2.6% | 4 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $6.1M | 81,522 | 2.6% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $4.9M | 1,506 | 2.2% | 4 |
| VICTORY PORTFOLIOS II | [CFA](https://holderbook.com/stocks/CFA/) | $4.6M | 64,419 | 2.0% | 4 |
| ISHARES TR | [ISTB](https://holderbook.com/stocks/ISTB/) | $3.8M | 73,868 | 1.6% | 4 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $3.7M | 45,129 | 1.6% | 4 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $3.6M | 16,419 | 1.6% | 4 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $3.6M | 8,291 | 1.6% | 4 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.5M | 1,311 | 1.5% | 4 |
| VANECK ETF TRUST | [MOAT](https://holderbook.com/stocks/MOAT/) | $3.3M | 44,521 | 1.4% | 4 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.1M | 9,127 | 1.4% | 4 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $3.1M | 8,545 | 1.3% | 4 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $3.0M | 7,565 | 1.3% | 4 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $2.7M | 25,310 | 1.2% | 4 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.6M | 44,385 | 1.1% | 4 |
| VANGUARD WORLD FD | [MGC](https://holderbook.com/stocks/MGC/) | $2.4M | 15,523 | 1.0% | 4 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.3M | 7,800 | 1.0% | 4 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.3M | 13,806 | 1.0% | 4 |
| ST JOE CO | [JOE](https://holderbook.com/stocks/JOE/) | $2.2M | 51,800 | 1.0% | 4 |
| UPSTART HLDGS INC | [UPST](https://holderbook.com/stocks/UPST/) | $2.1M | 6,634 | 0.9% | 1 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $2.1M | 33,617 | 0.9% | 4 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $2.0M | 12,928 | 0.9% | 4 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $2.0M | 4,775 | 0.9% | 4 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $1.8M | 5,606 | 0.8% | 4 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.8M | 8,840 | 0.8% | 4 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $1.8M | 15,397 | 0.8% | 4 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $1.8M | 12,065 | 0.8% | 4 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.8M | 12,858 | 0.8% | 4 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.8M | 4,123 | 0.8% | 4 |
| JANUS DETROIT STR TR | [VNLA](https://holderbook.com/stocks/VNLA/) | $1.7M | 34,580 | 0.8% | 3 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.7M | 31,926 | 0.8% | 4 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $1.6M | 10,895 | 0.7% | 4 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.6M | 12,020 | 0.7% | 4 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $1.5M | 55,401 | 0.7% | 4 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.5M | 14,607 | 0.6% | 4 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $1.4M | 28,708 | 0.6% | 4 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $1.4M | 12,503 | 0.6% | 4 |
| SERVISFIRST BANCSHARES INC | [SFBS](https://holderbook.com/stocks/SFBS/) | $1.4M | 18,000 | 0.6% | 4 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.4M | 1,798 | 0.6% | 4 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $1.4M | 14,209 | 0.6% | 4 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $1.4M | 7,868 | 0.6% | 4 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.4M | 4,973 | 0.6% | 4 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $1.4M | 8,667 | 0.6% | 4 |
| VICTORY PORTFOLIOS II | [CDC](https://holderbook.com/stocks/CDC/) | $1.4M | 21,064 | 0.6% | 4 |
| VICTORY PORTFOLIOS II | [CFO](https://holderbook.com/stocks/CFO/) | $1.3M | 17,842 | 0.6% | 4 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $1.2M | 12,478 | 0.5% | 4 |
| ISHARES TR | [IDV](https://holderbook.com/stocks/IDV/) | $1.2M | 39,290 | 0.5% | 4 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $1.2M | 13,712 | 0.5% | 4 |
| VANGUARD WORLD FD | [VFH](https://holderbook.com/stocks/VFH/) | $1.1M | 12,257 | 0.5% | 4 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $1.1M | 830 | 0.5% | 4 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $1.1M | 21,302 | 0.5% | 4 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $1.0M | 15,378 | 0.5% | 4 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $1.0M | 4,405 | 0.5% | 4 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $1.0M | 9,728 | 0.4% | 4 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $999.0K | 6,189 | 0.4% | 4 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $997.0K | 3,638 | 0.4% | 4 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $994.0K | 23,060 | 0.4% | 4 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $985.0K | 16,980 | 0.4% | 4 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $983.0K | 7,720 | 0.4% | 4 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $976.0K | 5,772 | 0.4% | 4 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $969.0K | 25,830 | 0.4% | 4 |
| ISHARES TR | [DVY](https://holderbook.com/stocks/DVY/) | $961.0K | 8,377 | 0.4% | 4 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $959.0K | 2,389 | 0.4% | 4 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $957.0K | 16,793 | 0.4% | 4 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $955.0K | 7,182 | 0.4% | 4 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $940.0K | 1,939 | 0.4% | 4 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $932.0K | 9,869 | 0.4% | 4 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $926.0K | 5,077 | 0.4% | 4 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $917.0K | 2,041 | 0.4% | 4 |
| APOLLO STRATEGIC GROWTH CAPT | [APSG](https://holderbook.com/stocks/APSG/) | $909.0K | 93,175 | 0.4% | 3 |
| PPL CORP | [PPL](https://holderbook.com/stocks/PPL/) | $887.0K | 31,825 | 0.4% | 4 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $829.0K | 5,514 | 0.4% | 4 |
| FORD MTR CO | [F](https://holderbook.com/stocks/F/) | $822.0K | 58,021 | 0.4% | 4 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $816.0K | 5,514 | 0.4% | 4 |
| MODERNA INC | [MRNA](https://holderbook.com/stocks/MRNA/) | $766.0K | 1,991 | 0.3% | 2 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $748.0K | 14,960 | 0.3% | 4 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $747.0K | 10,106 | 0.3% | 4 |
| PERSHING SQUARE TONTINE HLDG | [PSTH](https://holderbook.com/stocks/PSTH/) | $728.0K | 36,954 | 0.3% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $718.0K | 16,913 | 0.3% | 4 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $716.0K | 5,119 | 0.3% | 4 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $709.0K | 15,572 | 0.3% | 4 |
| FIDELITY COVINGTON TRUST | [FTEC](https://holderbook.com/stocks/FTEC/) | $707.0K | 5,963 | 0.3% | 3 |
| CLOUGH GLOBAL EQUITY FD | [GLQ](https://holderbook.com/stocks/GLQ/) | $697.0K | 47,600 | 0.3% | 2 |
| STAR BULK CARRIERS CORP. | [SBLK](https://holderbook.com/stocks/SBLK/) | $690.0K | 28,720 | 0.3% | 3 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $689.0K | 7,269 | 0.3% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $671.0K | 251 | 0.3% | 4 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $665.0K | 3,025 | 0.3% | 4 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $665.0K | 2,691 | 0.3% | 4 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $663.0K | 7,040 | 0.3% | 4 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $663.0K | 3,032 | 0.3% | 4 |
| CDW CORP | [CDW](https://holderbook.com/stocks/CDW/) | $633.0K | 3,475 | 0.3% | 4 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $630.0K | 10,196 | 0.3% | 4 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $627.0K | 8,341 | 0.3% | 4 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $624.0K | 2,372 | 0.3% | 4 |
| THE TRADE DESK INC | [TTD](https://holderbook.com/stocks/TTD/) | $619.0K | 8,804 | 0.3% | 4 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $613.0K | 7,440 | 0.3% | 4 |
| FIRST TR EXCHANGE-TRADED FD | [FDN](https://holderbook.com/stocks/FDN/) | $611.0K | 2,589 | 0.3% | 2 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $607.0K | 1,905 | 0.3% | 4 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $598.0K | 10,025 | 0.3% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2021 | -0.9% | +0.3% | -1.1% | 99% |
| Q2 2021 | +6.2% | +8.0% | -1.8% | 99% |
| Q1 2021 | +5.4% | +6.0% | -0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2021 | $229.5M | 294 |
| Q2 2021 | $237.3M | 317 |
| Q1 2021 | $215.8M | 281 |
| Q4 2020 | $231.6M | 307 |