Managers / Q1 2023 · view latest →
PRECEPT MANAGEMENT LLC
CIK 0001135631 · 200 CRESCENT COURT, SUITE 1450, DALLAS, TX, 75201 · 214-880-7444
Summary
Precept Management LLC reported $82M in U.S.-listed holdings across 26 positions for Q1 2023.
The portfolio is heavily concentrated: SPY alone accounts for 22.0% of reported value.
Compared with Q4 2022, the fund opened 17 new positions and exited 3.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 57.6% · $47M
- Common Stock · 42.3% · $35M
- Other · 0.2% · $125,400
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPYSPDR S&P 500 ETF TR | NEW | +44.0K | 44.0K | +$18M | $18M |
| XLFSELECT SECTOR SPDR TR | NEW | +350.0K | 350.0K | +$11M | $11M |
| IWMISHARES TR | NEW | +45.1K | 45.1K | +$8M | $8M |
| MRNAMODERNA INC | NEW | +30.0K | 30.0K | +$5M | $5M |
| LITELUMENTUM HLDGS INC | NEW | +60.0K | 60.0K | +$3M | $3M |
| ARCCARES CAPITAL CORP | NEW | +150.0K | 150.0K | +$3M | $3M |
| PCRXPACIRA BIOSCIENCES INC | NEW | +60.0K | 60.0K | +$2M | $2M |
| IVERIC BIO INC | NEW | +100.0K | 100.0K | +$2M | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 22.03% | $18M | 44.0K |
| 2 | QQQINVESCO QQQ TRhistory → | UNIT SER 1 | 11.38% | $9M | 29.0K |
| 3 | IWMISHARES TR | RUSSELL 2000 ETF · RUS 2000 GRW ETF | 10.40% | $8M | 47.1K |
| 4 | TSLATESLA INChistory → | COM | 4.31% | $4M | 17.0K |
| 5 | AMZNAMAZON COM INChistory → | COM | 4.04% | $3M | 32.0K |
| 6 | MSFTMICROSOFT CORPhistory → | COM | 3.32% | $3M | 9.4K |
| 7 | AMDADVANCED MICRO DEVICES INChistory → | COM | 2.40% | $2M | 20.0K |
| 8 | BMEABIOMEA FUSION INC | COM | 0.76% | $620,200 | 20.0K |
| 9 | NVGSNAVIGATOR HLDGS LTD | SHS | 0.51% | $420,000 | 30.0K |
| 10 | CANTALOUPE INC | COM | 0.49% | $399,000 | 70.0K |
| 11 | ACMRACM RESH INC | COM CL A | 0.43% | $351,000 | 30.0K |
| 12 | BTMDBIOTE CORP | CLASS A COM | 0.38% | $309,500 | 50.0K |
| 13 | ROC ENERGY ACQUISITION CORP | COMMON STOCK | 0.15% | $125,400 | 12.0K |
| 14 | GDYNGRID DYNAMICS HLDGS INC | CL A | 0.01% | $8,022 | 700 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2023 | $126M | 28 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $74M | 27 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $82M | 26 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $34M | 14 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $14M | 22 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $45M | 24 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $95M | 46 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $254M | 55 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $214M | 82 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $238M | 72 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $147M | 48 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $247M | 52 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $408M | 66 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $523M | 89 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $807M | 125 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $208M | 64 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $166M | 54 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $319M | 70 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $222M | 52 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $256M | 37 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 1 additional manager.
- Precept Capital Management, L.P.028-17846
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.